MONDAY 12TH OCTOBER 2020

Stock Exchange’s Onyema Counts Benefits of CBN Policies Obinna Chima The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, has identified the Central Bank of Nigeria’s (CBN) restriction of domestic investors from participating in its open market

operations (OMO) as well as the interest rate cut as policies that have continued to buoy the stock market performance.

Onyema, who said this in a forum in Lagos at the weekend, pointed out that investors are always in search of higher returns on

investments, saying the central bank’s policies have made the stock market attractive to investors.

The NSE All-Share Index and market capitalisation both appreciated by 5.30 per cent to close the week at 28,415.31 and N14.852 trillion respectively.

Onyema explained that the Nigerian economy as well as its financial market, like every other economy in the world, had been greatly impacted by COVID -19 and the associated economic challenges.

Owing to this, the market has recorded a lot of volatility,

similar to other markets, since March when COVID-19 actually hit Nigeria.

“Since then, a number of policy changes have occurred.

And as the world is now in a recovery mood and economies are opening up, we are seeing investors react to these policy

changes. As you know, the markets are indicators of what would happen in the economy.

“So, the equities market is just reflecting that. I must say that some of the policy changes I made reference to include the Continued on page 9

Report: Nigeria’s e-Payment Transactions Hit N17.3tn in September...Page 8 Monday 12 October, 2020 Vol 25. No 9317. Price: N250

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Protesters Insist on Reforms as IG Scraps SARS New policing strategy against violent crimes coming Police brutalise marchers, ARISE TV cameraman Iyobosa Uwugiaren, Olawale Ajimotokan, Kingsley Nwezeh, Adedayo Akinwale in Abuja, Chiemelie Ezeobi and Dike Onwuamaeze in Lagos Following the dissolution

of the dreaded Special AntiRobbery Squad (SARS) in the 36 States and the Federal Capital Territory (FCT) by the Inspector-General of Police (IG), Mr. Mohammed Adamu, the #EndSARS

campaigners have insisted on extensive police reforms and the prosecution of culpable officers of the disbanded outfit.

The IG has, however, promised to constitute a

new investigation team that would involve Civil Society Organisations (CSOs) and human rights groups in the conduct of investigations into human rights violations.

The IG, who spoke

yesterday at a media briefing in Abuja where he announced the formal dissolution of SARS, said a new policing arrangement would be put in place to fill the gap created in order to

reinvigorate the fight against armed robbery, kidnapping and other criminalities.

The dissolution followed widespread protests across Continued on page 9

Akeredolu’s Victory Shows One Good Turn Deserves Another, Says Buhari APC clinches 15 of 18 LGAs to win Ondo gov poll PDP studies result as ruling party, Lawan, Fayemi, Sanwo-Olu, Abdulrazaq, Oshiomhole hail victory Winners and losers Page 19

Deji Elumoye, Adedayo Akinwale in Abuja, Nseobong Okon-Ekong, Chuks Okocha, James Sowole in Akure, Victor Ogunje in Ado Ekiti and Hammed Shittu in Ilorin President Muhammadu Buhari has congratulated Governor Rotimi Akeredolu (SAN) on his re-election as governor of Ondo State for another fouryear term, saying his victory shows that one good turn deserves another.

The Peoples Democratic Party (PDP), whose candidate, Mr. Eyitayo Jegede (SAN), came second, has, however, said it would study the result of the Independent National Electoral Commission (INEC), which yesterday

declared Akeredolu of the All Progressives Congress (APC), as the winner of last Saturday's governorship election in the state.

Akeredolu won in 15 out of the 18 local government areas in the state.

Announcing the final results, the Returning Officer and the Vice-Chancellor of the University of Ibadan, Prof.

Abel Idowu Olayinka, said Akeredolu scored 292,830 votes, while Jegede garnered 195,791 votes to emerge second.

Akeredolu’s deputy, Mr. Agboola Ajayi of the Zenith Labour Party (ZLP), could not muster a win in his local Continued on page 10

Bandits Kill 12 in Kaduna Communities... Page 5

SWEET VICTORY...

L-R: Ondo State Governor, Mr. Rotimi Akeredolu (SAN); his wife, Betty; Osun State Governor, Alhaji Gboyega Oyetola; and Lagos State Governor, Mr. Babajide Sanwo-Olu, celebrating Akeredolu’s victory at last Saturday’s governorship poll in Owo, Ondo State...yesterday

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

Bandits Kill 12 in Kaduna Communities

John Shiklam in Kaduna

No fewer than 12 people have been killed by gunmen in Kidandan and Kadai villages in Giwa Local Government Area of Kaduna state.

Several others were also said to have been injured in the attacks that took place on Friday morning and Saturday night.

A source in one of the communities said the bandits attacked Kidanda on Friday at about 11 a.m., killing three and injuring four others.

He said the attack on Kadai village took place on Saturday night.

The attack claimed nine lives while four others were critically injured.

He added that several houses, including vehicles and motorcycles, were burnt by the hoodlums.

Confirming the incident in a statement issued yesterday in Kaduna, the state Commissioner for Internal Security and Home Affairs, Mr. Samuel Aruwan, said the state government had condoled with the two communities over the incidents.

The statement added that the state government “prayed for the repose of the souls of victims who lost their lives, and also wished those that were injured a speedy recovery.”

Although the statement did give details of the casualties, it stated that some of the hoodlums were “neutralised“ during a gun duel with security operatives who repelled them.

The statement said: “The

Kaduna State Government has condoled with Kadai and Kidandan communities of Giwa Local Government Area of the state, following attacks against innocent citizens by armed bandits.

“On Friday security operatives and local vigilante successfully repelled attempts by armed bandits to attack the Kidandan general area from a neighbouring state.

“The operatives and local vigilante in the Friday gun duel neutralised an unspecified number of the armed bandits, while many escaped with varying degrees of bullet wounds.”

According to the commissioner, “on Saturday, the armed bandits - who had lost a number of their ranks to the superior firepower of the security operatives - regrouped in the said neighbouring state and advanced towards the Kidandan general area.”

He said “Ground troops and police were mobilised while the Nigerian Air Force deployed a fighter jet to the general area for an immediate offensive against the horde of bandits.”

Aruwan said further that, “The simultaneous offensives were successful as many of the bandits were neutralised and many more incurred lifethreatening injuries.

“It was while escaping from the superior firepower that some of the fleeing bandits carried out a reprisal attack on Kadai village, leading to loss of lives, and razing of houses, motorcycles, and vehicles in the village, besides the victims affected in Kidandan.”

Seven Dead, Scores Trapped in Lagos Building Collapse Chiemelie Ezeobi No fewer than seven persons were confirmed dead, nine others injured and scores still trapped under the rubble of a collapsed four-story building at No. 60 Odo Street, Obalende, Eti-Osa Local Government Area of Lagos State.

Although emergency workers are yet to put a total figure to the casualty and fatality rate, it was gathered that some persons have been rescued already.

Confirming the incident last night, the DirectorGeneral and Chief Executive Officer of the Lagos State Emergency Management Agency (LASEMA), Dr. Olufemi Oke-Osanyintolu, said the building was under construction before it partially collapsed.

He said upon arrival at the incident scene, rescue operations began immediately even though the cause of the collapse was yet to be ascertained.

“As at 6.20 pm, a total of eight persons (all male) have been extricated alive by the LASEMA Response Team and other stakeholders, and have been attended and quickly transferred to the hospital

by LASEMA Paramedics for further medical attention at Lagos Island General Hospital,” he explained.

He, however, said four other

persons- three males and one female- were initially recovered dead and handed over to the State Environmental Health Monitoring Unit (SEHMU) at the incident scene.

Noting that a rescue operation was still ongoing, he said the team has secured the incident site and was conducting head count.

According to OkeOsanyintolu, as at 7 p.m, the casualty figure stood at 15 rescued persons and seven dead.

Giving a further breakdown, he said out of the 15 injured persons, 10 were casualties who were treated for minor injuries while five severely injured persons were transferred to the hospital.

Of the dead persons, he said six men and a woman were exhumed and taken to the morgue.

He noted that joint responders were working on the site with their equipment to ensure they get to ground zero and evacuate all.

On the cause of the collapse, he said the building had been sealed by LASBCA already, yet the owner commenced clandestine operations in the early hours of yesterday morning.

“These illegal activities directly led to this unfortunate incident, which has led to the loss of life and multiple injuries,” he added.

The statement added that Governor Nasir el-Rufai, “after condoling with the communities, praised all security personnel and volunteers involved in the operation.

“He described their effort

as a gallant act of sacrifice and deep patriotism in view of the steadfastness exhibited by the operatives and local vigilante.

“The governor also appealed to the security agencies to sustain the ongoing onslaught

against armed bandits and other criminals engaged in nefarious activities.

“The governor has also gotten feedback that the ongoing operation will continue, as well as the deployment of troops and

operatives to flashpoints in the counter banditry campaign.

“Similarly, the governor has directed the Commissioner in charge of liaising with security agencies to provide him with hourly briefings on the security situation.”

SALUTING MR PRESIDENT...

President Muhammadu Buhari (left) and Gombe State Governor, Alhaji Inuwa Yahaya, during the governor's visit to the president in Abuja… recently

FG Retains Existing PSC Terms in New PIB Emmanuel Addeh in Abuja The federal government is seeking to retain the same Production Sharing Contract (PSC) terms, signed into law in 2019 by President Muhammadu Buhari, in the new Petroleum Industry Bill (PIB) before the National Assembly.

The PSC Amendment Act christened "Deep offshore and Inland Basin PSC Amendment Act, 2019," introduced a combined production and price-based royalty system to replace the productionbased royalty system, which varies according to areas of operations.

Like the existing law, the new proposed royalty regime in the PIB specifies a baseline royalty of 10 per cent for crude oil and condensates produced in the deep offshore (greater than 200 meters of water depth) and 7.5 per cent for the frontier and inland basin.

On royalties based on production, the bill pegged it per centum of the chargeable volume of the crude oil and condensates produced from the field area in the relevant month on a terrain basis.

The PIB indicated that for onshore areas, it will be 18 per cent, shallow water-up to 200-meter water depth (16 per cent), deep offshore (greater than 200 metres water depth- (10 per cent) and frontier basins were put at 7.5 per cent .

For royalties for onshore fields and shallow water fields, including marginal fields, with crude oil and condensate production not more than 10,000 barrels oil equivalent per day (Bopd), the bill noted that for the first

5,000 bopd , it will be five cent while for the next 5,000 bopd will be 7.5 per cent.

Aside from the baseline royalty arrangement, a royalty based on the applicable price of crude oil, condensate, and natural gas will apply, when the price exceeds $20 per barrel.

It said: “There shall be payable, in addition to the royalty set out in paragraph 10 of this schedule, for onshore, shallow water and deep offshore a royalty by price with respect to crude oil and condensates at the rates set out – from $0 up to $20 per barrel (0 per cent), above $20 and up to $60 (2.5per cent), above $60 and up to $100 (four per cent), above $100 and up to $150 (8.0 per cent) and above $150 (10 per cent) It continued: “Below $ 50 per barrel (0 per cent), at $ 100 per barrel ( five per cent) , above $ 150 per barrel (10 per cent).

“Between $50 and $100 per barrel and between $100 and $150 per barrel the royalty by price shall be determined based on linear interpolation.

As an example if in 2020 the price is $ 75/bbl, the royalty by price shall be 2.5 per cent) It added that at the beginning of 2021 and of each succeeding calendar year, these price levels shall be increased by two per cent relative to the values of the previous year, stressing that: "There shall be no royalty by price for frontier acreages”.

However, in contrast to the framework currently in operation in the industry, the new Petroleum Industry Bill (PIB), when passed, will introduce a new model which will involve the establishment

of Incorporated Joint Ventures (IJV), in oil exploration and production in Nigeria.

The IJV model which is expected to encourage healthy growth in the energy sector will replace the extant JV agreements, which are merely basic contracts between the Nigerian National Petroleum Corporation (NNPC) and the privately-owned oil companies.

It involves both the corporation and the oil companies contributing to the funding of operations in the proportion of their equity holdings and generally receive the produced crude oil in the same ratio.

But, the PIB's incorporated joint ventures will see the creation of a new company through which the venture will be operated, while the parties involved will be shareholders of the new company as well as appoint its directors.

Generally, the IJV model will provide better asset protection to the parties concerned as the liabilities of the venture will usually be contained in, and limited to, the JV company, rather than being borne directly by the parties directly.

As an unincorporated arrangement, each co-venturer has an undivided interest in the lease as well as all oil produced and the assets employed in oil production and currently account for more an estimated 90 per cent of the country’s daily oil production.

According to the general provisions of the second Schedule (sections 54(7) and 65(1) of the new PIB currently before the national assembly, under the principles of negotiating IJVs, each incorporated joint venture

company shall be formed under the Companies and Allied Matters Act (CAMA).

It stated that all NNPC Limited ( the company to be formed from the existing one), shall enter into negotiations with the other parties to such existing joint operating agreements with a view to, among other things, agreeing and executing a shareholders’ agreement in respect of the applicable incorporated joint venture company to carry out upstream, midstream and downstream petroleum operations.

While the IJV shall at all times be the operator of petroleum operations under each petroleum prospecting licence and petroleum mining lease that it holds, however, the PIB indicated that it may not enter into any contract or group of contracts which would have the effect of transferring, directly or indirectly, any of the functions as operator except with the approval of the commission.

On special provisions relating to IJV, the PIB stated: “No incorporated joint venture company shall be subject to the provisions of the Fiscal Responsibility Act and the Public Procurement Act. “Once incorporated, the following provisions shall apply to each Incorporated joint venture company-prior to any sale of shares in an incorporated joint venture company by any shareholder (other than NNPC Limited) of such incorporated joint venture company, such shareholder shall first offer such shares for sale to NNPC Limited at fair market value and on commercially reasonable terms.

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Report: Nigeria’s e-Payment Transactions Hit N17.3tn in September Obinna Chima The total value of transactions in the country through electronic payment (e-Payment) channels, which included Point of Sale (PoS), the Automated Clearing House (ACH) and the Nigeria Interbank Settlement System Instant Payment (NIP) rose by 5.49 per cent to N17.3 trillion in September 2020, compared with the N16.4 trillion recorded in August.

The figure also included cheque transactions.

The Chief Executive Officer, Financial Derivatives Company Limited, Mr. Bismarck Rewane, attributed the rise to the impact of COVID-19, in a report he presented at the Lagos Business School's executive breakfast session for October, a copy of which was obtained at the weekend.

He stated that the figures were obtained from Nigeria Interbank Settlement System (NIBSS).

The spike in e-banking activities was necessitated by the outbreak of the Coronavirus, which has seen more bank customers embrace alternative banking channels, as part of efforts to avoid contracting the virus.

According to the report, the figure was expected to rise to N18 trillion in the near

term, adding that the NIP has surpassed pre-pandemic levels.

This, he said, was due to the convenience associated with e-payment as well as the slow foot traffic in banking halls.

Reviewing economic activities in September, Rewane pointed out that the average oil price in the month fell by seven per cent to $41.89 per barrel, from $45.02 per barrel in August, while oil production was flat at 1.482mbpd.

Also, the amount the Federation Account Allocation Committee (FAAC) shared in September inched up by 0.84 per cent to N682 billion, while headline inflation jumped to 13.22 per cent.

Similarly, as of the end of September, the opening balance of the banking system was N400.70 billion; cash in circulation declined by 1.25 per cent to N2.37 trillion (in August) and the stock market rallied 5.9 per cent in response to lower interest rates in the decade.

“Speculative investors, foreign portfolio investors (FPI) flows trapped, and high dividend yields drawing stocks to giddy heights,” he added.

He also anticipated that third-quarter Gross Domestic Product (GDP) growth would remain negative, predicting that the rate of contraction

could slow on increased economic activities.

He predicted a GDP contraction by 3.5 per cent in the third quarter of 2020 as well as a full year contraction by 3.3 per cent.

“Slow and gradual recovery expected ahead of 2021 (1.8 per cent). The ICT sector will continue its reign in Q3 2020, the aviation and education growth to pick up on resumption of activities, especially international and

domestic flight resumption and re-opening of schools.

“Agric sector growth likely to slow on flooding and insecurity in major food-producing states.

Inflationary pressure to persist and headline inflation to maintain upward trajectory,” he projected.

He predicted that inflation rate would climb to 14 per cent in September and rise further to 15 per cent in October.

“Food sub-index will remain

the major culprit. Inflation in 2020 could rise beyond the Central Bank of Nigeria’s 14.15 per cent projection and consumer disposable income to remain suppressed,” Rewane, who is a member of President Muhammadu Buhari’s Economic Advisory Council anticipated.

In envisioning the possibility of a Joe Biden’s presidency for the United States of America, Rewane, in his assessment, said

it would bring about tax reform – increase taxes for the wealthiest Americans; will gradually shift back to free trade from current protectionist leanings; will not undermine the US Fed – with tweets and calls for rate cuts; the US will re-join the Paris Climate Agreement; US-China rapprochement; and return to multilateralism in relationship with Africa; Iran's nuclear deal will be revisited.

Don’t Rely on Oil Revenue in 2021 Budget, OPS Tells FG Dike Onwuamaeze The Organised Private Sector (OPS) of the Nigerian economy has called on the federal government not to rely much on oil revenue for the effective implementation of the proposed 2021 budget due to the usual burst and boom cycle of crude oil prices.

They also urged the federal government to use the budget to reboot the economy by aligning the budget with the Economic Sustainability Plan (ESP), which was unveiled and designed as the first line of defence to mitigate the effects of the COVID-19 pandemic.

President Muhammadu Buhari had on Thursday presented a proposed budget of N13.08 trillion to the National Assembly for the 2021 fiscal year.

But the Director-General of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Ambassador Ayo Olukanni, has raised the alarm that revenue would be one of the biggest challenges in implementing the 2021budget and advised the federal government to truly diversify the economy by paying more attention to sectors like the creative industry, agriculture, and mining and their entire value chain.

Olukanni said: “We see this budget as a continuum of the ESP, which was designed to tackle issues such as improving agricultural production, food security, provision of jobs and social safety net for the most vulnerable segment of society.”

The Director-General of Nigeria Employers’ Consultative Association (NECA), Mr. Timothy Olawale, also called on the government to block the leakages that still permeate the system in order to promote accountability and transparency, adding that “a more strategic need is to reduce the dependence on revenues from oil and strategised ways and means in stimulating the

non-oil economy to provide the needed revenue for funding of the budget,” Olawale said.

Speaking in the same vein, the Director-General of the Lagos Chamber of Commerce and Industry (LCCI), Dr. Muda Yusuf, noted that “revenue is very key and very central to the budget. If you look at the last three years there has been large variances, large negative finances in the revenue targets and it is not likely that what we will have in the 2021 budget will significantly be different.

“So, the revenue will continue to be an issue if we continue to have the economy the way it is and for as long as the private sector continues to struggle with all the challenges in the business environment,” he said.

Commenting on the debt profile of the country, Olukanni said that NACCIMA is worried by the steady rise of both domestic and foreign debt portfolios of the country.

“Under the 2021 proposed budget, N3.12 trillion has been set aside for debt servicing which represents an increase of N445.57 billion over the N2.68 trillion for 2020. This is worrisome. We might have met our debt service obligations so far. Steps must be however be taken to prevent our debt from spiraling out of control and prevent a return back to the days of our status as a debtor nation.”

In the same manner, Olawale said that NECA foresees Nigeria’s debt hitting N45 trillion by the end of 2021.

He said: By the end of year 2020, the debt profile of the country would have reached N35 trillion. Adding the N5.19 trillion anticipated in 2021, and we believe there would still be addition borrowings, which could suggest that the country could reach a N45 trillion debt mark by end of 2021.

“It is also interesting to note, that the value of the debt service in the 2021 budget is equivalent to 87.1 per cent of capital expenditure.”

IN A LEADER’S MEMORY...

Wife of a former Bayelsa State governor, Mrs. Margaret Alamieyeseigha (left), and Governor Douye Diri during the fifth memorial service for Chief Diepreye Alamieyeseigha in Amassoma community…weekend

PENCOM Workers Submit Petition against DG to Senate President Deji Elumoye in Abuja The opposition to President Muhammadu Buhari’s nomination of Ms. Aisha Umar as the Director-General of National Pension Commission (PENCOM) gathered momentum at the weekend with some workers of the commission petitioning the Senate President, Dr. Ahmad Lawan, against the confirmation of Umar and five other members of the board by the Senate.

The board members whose names were read at Senate plenary two weeks ago by Lawan include Dr. Oyindasola Oni and Umar from North Central and North East, respectively for the office of Chairman and Director-General respectively.

Others nominated as commissioners are Ms. Hannatu Musa (North-West); Mr. Clement Akintola (South-West); Mr. Ayim Nyerere (South-east) and Mr. Charles Emukowhale (SouthSouth).

The Senate South-east caucus led by the Senate Minority Leader, Senator Enyinnaya Abaribe, had last week rejected the nomination of Umar as PENCOM DG, as replacement for Ms. Chinelo Anohu-Amazu, whose appointment was terminated in 2017, two years to the end of her tenure.

The PENCOM workers under the aegis of Pension Workers

Advocacy Group, in a petition to the Lawan, asked the upper legislative chamber to stay further legislative action on the six board nominees.

The group in a two-page letter dated October 6, 2020 addressed to Lawan stressed the need for Senate leadership to direct the Senate Committee on Establishment and Public Service Matters to stay action on the confirmation of the six nominees sent to the Red Chamber by Buhari.

The petition signed by Alhaji Isyaku Abdulrahman on behalf of the concerned workers drew the attention of the Senate President to "the Flagrant Violation of Procurement Process, Abuse of office and Criminal Diversion of Public Funds by Aisha Dahir-Umar, Acting Director-General of the National Pension Commission (PenCom) and her cohorts whose nomination as Director-General was submitted by the president for confirmation by the Senate."

They maintained that proceeding with her confirmation would make a mockery of the anti-corruption crusade of the Buhari’s administration.

The petition further read in part: "Her nomination constitutes an affront on the anti-corruption stance of the federal government and transparency in public office.

"We are aware of your excellent reputation and antecedent as a fearless, brave

and astute politician who cannot sacrifice national values on the altar of greed, avarice and personal aggrandisement.

"We, the staff of the commission feel the heat of Aisha Dahir-Umar’s excesses and this has necessitated the formation of this group tasked with whistle-blowing responsibilities in order to ensure transparency, accountability and good governance structures in PenCom. "Therefore, we reject in totality, her candidacy and are confident that thorough investigations will be carried out by the distinguished Senate on her nomination. There are eminently qualified persons across the nation for the position of PenCom Director-General regardless of ethnic, religious and other orientation."

The group urged the Senate President to use his good offices to save the pension fund, which it put at over N11trillion from jeopardy.

"There is a legacy left by her predecessors and these legacies must not go down the drain.

States are doing what they like with the pension laws, amending it at will to suit the interest of state governments and not the workers who are the real targets of the scheme.

There is an absence of proper engagements with the states.

"We call for the appointment of a competent professional

regardless of ethnic orientation and creed to set us on the path of growth, sustainability and innovation. We believe she has no business directing the affairs of PENCOM. We advocate that adequate forensic investigation should be carried out. We are insiders and believe that there are more qualified candidates with a track record of proven integrity who can lead PENCOM to the next level."

The investigation further revealed that some senators from the South-west, Southeast and North Central geo-political zones had since taken a position against the confirmation of Umar, citing breach of certain provisions of the National Pension Commission Act 2014.

They argued that by virtue of the provisions of Section 20(1) and section 21(1) and (2) of the National Pension Commission Act 2014, the erstwhile DirectorGeneral of the commission, Anohu-Amazu, incidentally from Anambra State whose appointment was terminated in 2017, should be replaced by someone from South-east geo-political zone.

The provision of the Pension Act states that "in the event of a vacancy, the President shall appoint a replacement from the geo-political zone of the immediate past member that vacated office to complete the remaining tenure."

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PAGE NINE STOCK EXCHANGE'S ONYEMA COUNTS BENEFITS OF CBN POLICIES CBN policy that domestic institutional investors should stop participating in the OMO market.

“That has driven significant funds into the Nigerian Treasury Bills (NTB) market and some of those funds have found their way into the equities market. We have also seen a cut in interest rate.

“That was a significant move in support of equities as

an asset class. What investors tend to do is to look for yield.”

According to the NSE boss, since the Nigerian economy has shifted into a negative real interest rate environment, investors are now in search of investments that would give them higher yields and returns.

“Given the record dividend yield available in the

Nigerian market and given the strong fundamentals of a number of companies that are listed on the Exchange, it makes sense that as investors try to rebalance their portfolio, they would look at equities.

“There have also been a number of fiscal policies that have been very supportive of the market.

So, I commend the CBN

and the CBN Governor for their thought leadership and generally their leadership in attacking the Covid-19 and in taking measures like cutting interest.”

Meanwhile, the CBN has directed all banks operating in Nigeria to ensure full compliance with its SWIFT Universal Confirmations requirements.

The banking sector

regulator stated this in a circular posted on its website at the weekend.

“All SWIFT customers are required to provide confirmation on the outcome of all their incoming single customer payment (MT103) messages to SWIFT via Tracker, also known as Universal Confirmations.

“The confirmation should get to SWIFT within two

business days on whether the beneficiary's account has been credited, payment is rejected or pending. Please note that all financial institutions within the ecosystem will be measured on whether they confirm 80 per cent of their weekly payments,” the document signed by its Director, Banking Services Department, Sam Okejere stated.

He added: "The IG has, no doubt, demonstrated that he is responsive to public opinion. But also, and more importantly, he needs to demonstrate that the NPF under his leadership will not condone, tolerate or cover-up crime and abuse.

Accountability is key. Lack of it created the atmosphere of impunity that has protected rogue elements in the police.

“As I already mentioned elsewhere, I am forwarding some cases of corruption, killings and abuse by SARS, IRT, and STS to the IG. There are of course also cases involving the regular officers."

SARS was founded in 1992 under the then IG, Alhaji Aliyu Attah. It started with 50 officers headed by Commissioner of Police Midenda to tackle armed robbery in Lagos only.

In the process, the ARISE TV Cameraman was attacked and inflicted with a deep injury on his head by some policemen.

In an on-the-spot account posted online by ARISE TV crew presenter, Mr. Ferdinand Duruoha, he said the crew was returning from the studio, where they reported the IG of police Twitter message banning SARS, when they saw some youths protesting in Maitama.

PROTESTERS INSIST ON REFORMS AS IG SCRAPS SARS the country over extra-judicial killings, extortion and general human rights abuse by the SARS police unit.

The IG said: "As part of measures to prevent a reoccurrence of events that gave rise to the dissolution of SARS, a Citizens’ and Strategic Stakeholders’ Forum is being formed to regularly interface with Police leadership at all levels and advise on police activities as they affect the general public.

"The Force is constituting an investigation team, which shall include civil society organisations and human rights bodies to work with the police in investigating alleged cases of human rights violations."

He said the measure would enhance transparency and accountability in police services as well as providing a system of deterrence for erring police officers whose action clearly violates the rights of the citizenry.

Briefing newsmen at the Force Headquarters in Abuja, the IG said the decision to dissolve SARS followed a review of the current development and in due cognisance of the wide and legitimately held concerns of well-meaning citizens on the existence and operations of the SARS as a responsive and citizens-oriented Police Force.

"The Special Anti-Robbery Squad of Nigeria Police otherwise known as SARS is hereby dissolved across all formations, the 36 State Police Commands and the Federal Capital Territory where they currently exist," Adamu said.

He said all officers and men currently serving in the unit would be redeployed with immediate effect while new arrangements to address the offences of armed robbery and other violent crimes that fall within the mandate of the dissolved Special AntiRobbery Squad would be presented in due course.

"A citizens and strategic stakeholders’ forum will be formed to regularly interface with the leadership of the police at all levels and advice on police activities," he said.

Adamu maintained that in order to deal with the reports of crimes committed against citizens, an investigation team will be constituted, which will include civil society organisations for transparency and that culprits would be punished.

He explained that the call by cross-sections of Nigerians for the scrapping of the SARS as a unit in the Nigeria Police Force had remained under constant monitoring and due assessment by the government.

He noted that the government acknowledged the inalienable rights of citizens to freedom of association and expression in which the current agitation

is seen as a manifestation of the natural desire of citizens to participate in matters concerning policing and internal security in the nation.

"This is indeed one of the fundamental principles of community policing, which we are currently implementing,” Adamu said, revealing: "The Nigeria Police leadership has since the commencement of the protests been engaging the leadership of some Civil Society Organisations with a view to initiating meaningful and wide-ranging discussions on the subjects of their concern."

Reacting to the development, Pan Niger Delta Forum, PANDEF, welcomed it, describing the action as a positive detour from the established unheeding tendency of the Buhari administration.

“They heeded the uproar of citizens against SARS, and for once, acted promptly in disbanding the special squad, whose personnel went off their duty lines and core mandate of combating armed robbery, kidnapping and other violent crimes in the country, and virtually became a terror gang with disturbing reports of wanton misdeeds, particularly against young people, across the country”, the group stated in a press statement by its spokesman, Mr. Ken Robison.

As at press time, the clamour for President Muhammadu Buhari to address the nation and confirm SARS has been proscribed heightened as it generated over 500,000 tweets.

Also trending with over 200,000 tweets were words like ‘audio,’ a social media parlance used to depict when fake promises are made.

Describing the proscription as audio, the protesters vowed that only an Executive Order backed by law would convince them that SARS has been dissolved.

Protesters Insist on Prosecution of Culpable Officers Meanwhile, the announcement of the proscription of the SARS was met with a mixture of disbelief and scorn by #EndSARS campaigners, who have insisted on the prosecution of the culpable officials.

The group argued that the dissolution of SARS was just one of their several demands.

As articulated, by Citizens Gavel Foundation against Social Injustice, they charged the IG to follow through on their other demands, which includes publishing a list of all officers that have been found culpable in the past and then embark on transparent prosecution of

ARISE NEWS cameraman, Ogbonna Francis in a pool of blood such officers.

They also demanded justice for all victims who have suffered injustice in the past and a public enquiry on the activities of the unit in the past, as well as compensation of all verifiable victims, both dead and alive.

Charging the police hierarchy to ensure all unjust harassment and extortion of youth by the police stops, they also stressed that policemen on duty must have their name tags depicting their units as well.

They tasked the police command to ensure they outlaw the norm of guntotting policemen dressed in civil wear in unmarked vehicles while on duty.

One of the champions of the #EndSARS movement, Mr. Folarin Falana, aka Falz said: “This is just the beginning. Now is time to reform the entire Police Force.”

The Convener, Operation Sanitise, Ms. Savvy Rinu, another champion of the movement, said even though the police high command has proscribed SARS, that was the least of their problems.

She said: “Let’s all note that #EndSARS is just 10 per cent of our problem.

Next, we push for Police Reforms.”

Governance and institutional reform advocate, Dr. Joe Abah, said: “Now SARS has been dissolved and the first stage of #EndSARS achieved, we can now discuss reforms.

“All the officers from the dissolved SARS would need to undergo a psychiatric evaluation before being deployed anywhere else.

Anyone unfit or with a record of abuse should be sacked.”

BBNaija ex-housemate, Prince Enwerem said: “Merely redeploying these same officers defeats the essence of our protests because it is the officers

doing these things not SARS as a body.

“We asked to reform the police not ‘unveil’ a new unit which we do not know would be any different from what we’re fighting.”

An actress, Ms. Lota Chukwu, said: “If we see a SARS official on the street after today, are we allowed to tell them they are rogue and not fear getting harassed or losing our lives? This is the real change we’re demanding. A ban beyond a press release.”

Mr. Omoyele Sowore of #RevolutionNow said: “As earlier revealed, IG Adamu of @policeng has announced the dissolution of #SARS but it is not yet Uhuru; we must remain vigilant, strive to end the system that enables impunity too must be dismantled as well! Thank you, revolutionary citizens, keep moving!”

Among those calling for justice for youths who were either killed or abused by the police were Mr. Japheth Omojuwa, a social advocate, who said: “We want justice for those killed by the police starting with Jimoh Isiaq.”

In his reaction to the dissolution of SARS, the Executive Director, Rule of Law and Accountability Advocacy Centre (RULAAC), Mr. Okechukwu Nwanguma, dissolution of SARS announced by the IG raised concerns on the fate of the SARS operatives, who have been indicted for human rights abuse.

He said: "What remains to be seen is what the IG is planning to do with the operatives already identified for involvement in specific egregious cases of abuse, corruption and crime?

"Are the same operatives going to be pushed into the mainstream police force without an audit, or will the IG create a new squad and fill it up with the same rogue elements?"

Bakare Backs Calls for Police Reform In a related development, the Serving Overseer of the Citadel Global Community Church (CGCC), Pastor Tunde Bakare, has stated that the SARS has become a grotesque embodiment of the problem it was created to solve by habouring in its midst bloodletting gangs.

He said: “We must reevaluate, restructure, rebrand and rebuild confidence in an efficient and effective antirobbery tactical unit even as we work towards a more holistic and fundamental reconception of our security architecture on the journey to national rebirth.”

He made the call yesterday while preaching a message titled “No Peace for The Wicked” in the auditorium of the CGCC, formerly known as the Latter Rain Assembly, in which he said: “Our land is presently filled with the cry of the blood. One cannot but weep day and night for the senseless killings of innocent citizens protesting peacefully against the lawlessness of some members of the SARS who seem to be proceeding from evil to evil without any attendant consequences.”

Police Brutalise Matchers, ARISE TV Cameraman Meanwhile, hours after the IG bowed to public pressure by announcing the disbandment of the SARS, policemen Sagain applied excessive force against antiSARS protesters yesterday afternoon in Abuja.

Several protesters, including a cameraman with ARISE NEWS Channel, were brutalised by policemen, who used teargas and water cannon to break the group of campaigners around Transcorp Hilton Hotel in the Maitama area of FCT.

Duruoha said it was while the crew decided to set up the camera to interview the protesters for their view on the IG's directive that they were attacked by the policemen. ''The police brutally assaulted Francis and broke his camera and this is the result of the attack,'' Duruoha posted in the video showing Francis’s head covered in his own blood.

Adesina: I Didn't Advise Buhari against Scrapping SARS In another development, the Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, has denied a report that he advised Buhari against scrapping FSARS. Adesina in a statement issued yesterday said he never alter a word publicly or privately while the #EndSARS saga lasted because it didn't fall under his purview.

"While the FSARS saga lasted, I did not say a word on it, whether publicly or privately. Why? It was not within my brief. It rested squarely with the Nigeria Police Force, which has its own spokesman," he said.

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MONDAY, ͹ͺ˜ ͺ͸ͺ͸ ˾ T H I S D AY

NEWS

Military Takes Battle against Terrorists to Sambisa Forest, Others

Kingsley Nwezeh in Abuja

In line with the demand by the Governor of Borno State, Prof. Babagana Zulum for the military to take battle to the terrorists’ den instead of always waiting to be attacked, the military authorities said weekend that it would launch a final onslaught against terrorist hideouts in Sambisa Forest, Mandara Mountains and Lake Chad.

While declaring open the Chief of Army Staff Combined four-day Conference at Command Guest House, Maiduguri, Zulum had urged the army not to wait until terrorists attack them.

Zulum urged the Nigerian army to be proactive by taking the counter-terrorism war to Boko Haram hideouts of Sambisa Forest and Lake Chad region.

According to him, taking the war to the hideouts will expose the terrorists, their collaborators and sponsors in forests and region.

Following Zulum’s request, the Chief of Army Staff, Lt.

General Tukur Buratai, said after the conference that the Nigerian Army was set to launch "Operation Fireball" against terrorist groups, Boko Haram and the Islamic State for West Africa Province (ISWAP).

He said the operation would be the final onslaught against the insurgents.

He said the military was "approaching a crucial phase in our counter-terrorism operations in the North-east with Operation Fireball.”

He said the new operation would be extended to insurgents’ hideouts of Sambisa Forest, Mandara Mountains and the Lake Chad region.

“My recent directive on the relocation of AHQ DATOPS ( Army Headquarters Training and Operations) and AHQ DOAL (Army Logistics) to the North-east Theatre is geared towards ensuring that AHQ provides maximum support to the operation,” he said.

Buratai affirmed that he issued the Chief of Army Staff Special Order, specifically, for troops to switch over to a war

mode.

“This is necessary for the final destruction of the criminal insurgents,” he declared.

Buratai, therefore, charged

courageous and exemplary leadership to be displayed at all levels, as highlighted during the conference panel discussion.

“No excuse will be tolerated in the accomplishment of Operation Fireball objectives to end war,” he warned.

He directed war

commanders not to relent in order to maintain a positive disposition and attitude toward improving on ongoing operations.

To Avert Gas Explosions, DPR Issues New Operational Guidelines Peter Uzoho The Department of Petroleum Resources (DPR) has released guidelines for the establishment and operations of the downstream gas facilities.

The agency has faced criticisms for licensing gas plants that did not meet standards, a development, which led to Lagos gas explosions with attendant loss of lives.

The guidelines include: guidelines for the establishment and operations of LPG refilling plants and retail outlets, guidelines for establishment of auto gas re-fuelling stations and

guidelines for the establishment of gas storage and utilisation.

The Director of DPR, Mr. Sarki Auwalu, in a statement yesterday by the agency's Head of Public Affairs, Mr. Paul Osu, stated that the guidelines stipulates the minimum requirements, procedures and conditions to be fulfilled before the grant of approvals or licences for the construction, installation, modification, takeover, relocation and operations of downstream gas facilities in Nigeria.

He said that the guidelines, posted on the agency’s website, were developed to enhance gas penetration and utilisation,

enhance operational safety as well as ease of doing business in the oil and gas sector.

He said that companies intending to establish these facilities must satisfy all necessary requirements stipulated by DPR and obtain the underlisted applicable approvals - site suitability approval; Approval to Construct (ATC)/Approval to Install, and Licence to Operate.

He said that necessary amenities and equipment such as functional automated/ manual leak tester, functional fire alarm system, and mounted gas detectors,

adequate fire water storage and sprinklers, perimeter fence with fire wall amongst others must be provided in the facilities.

He stated that the objective of the guidelines was to ensure that the baseline standard regarding HSE was achieved.

Meanwhile, the DPR director while further commiserating with the victims of the recent gas fire incident in Lagos, informed that preliminary reports from DPR investigations revealed that the facility was operating without licence and was carrying out illegal operations, which resulted in the unfortunate incident.

AKEREDOLU’S VICTORY SHOWS ONE GOOD TURN DESERVES ANOTHER, SAYS BUHARI government area of origin, Ese Odo. Ajayi who hails from Kiribo in Ese Odo LGA posted 4,760 votes in his local government against APC’s 13,383 votes and PDP’s 4,680 votes.

Ajayi returned with 69,127 votes to come distant third in the contest.

With over 97,000 votes between Akeredolu and Jegede, the Ondo State governor won.

Saturday's election was the second time Akeredolu and Jegede would contest against each other for the same office.

The two SANs squared up in the 2016 governorship election, which brought in Akeredolu, as the governor, for the first term.

The breakdown of the results showed that Akeredolu won in 15 out of 18 local governments, Jegede won in three local governments while Ajayi won none.

In his address to the people of the state on his victory, Akeredolu, described his main challenger, Jegede as a worthy adversary.

Akeredolu said Jegede's participation in the electoral process was historic.

He said: "Jegede's patriotism is not in doubt. His love for the people is unassailable. He is indeed a worthy adversary.

Our state is indeed blessed for having people of his quality."

Akeredolu said the renewal of his mandate, was an eloquent testimony to the degree of acceptance the people of Ondo State have for him.

He said: "It affirms that the confidence reposed in our administration remains unshaken. It is a statement on your assessment of our performance in the last three and a half years.

"It is unequivocal, direct, inspiring and soul lifting. It is awesome. It is a reward for hard work, dedication, focus, honesty and patriotism.

"It is also a challenge to us

for rededication to service in the interest of our people. On this, we shall not relent."

He said the administration has not relented in the promises made when he was elected for the first term, adding that the achievements in various sectors, are testimonies for the dedication to serve the people.

He promised that the administration shall continue to make people its priority.

Though Jegede was not available for comments on the outcome of the election, the spokesman of his campaign organisation, Mr. Gbenga Akinmoyo, has commended the people that voted according to their conscience.

He said: "We use this medium to thank the good people of Ondo State who voted yesterday according to their conscience; thanks to the loyal members of PDP at local, state and national levels who took ownership of this project and executed it.

"This is God's project and since it remains so, "We wait, eyi ni ise Oluwa."

Meanwhile, in a statement issued yesterday by the Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, the president lauded the resounding victory of the governor at the election, noting that the votes garnered show that one good turn surely deserves another.

The president urged the governor-elect to be humble and magnanimous in victory, and serve the people of Ondo State even better than how he did in the first term.

“When you serve with heart and might, the people respond in like manner, and we can easily get to where we are headed as a country,” Buhari said.

The president commended INEC for organising a credible, free and fair election, and saluted the security agencies that ensured that orderliness was enthroned

and maintained.

He commended the people of Ondo State and the APC for keeping faith with their governor, noting: “The people know the person and party that truly serves them, and have spoken in clear voice and unmistakable terms.”

PDP to Study Results as APC, Lawan, Fayemi, Oshiomhole Hail Victory While the PDP in Ondo State said it would study the outcome of the election, the APC, the President of the Senate, Dr. Ahmad Lawan, Lagos State Governor, Mr. Babajide Sanwo-Olu, the Governor of Ekiti State, Dr. Kayode Fayemi, and Kwara State Governor, Mr. AbdulRahman AbdulRazaq, have lauded Akeredolu on his victory.

The Secretary of the APC National Campaign Council on Ondo 2020, Governorship Election and the Acting Secretary of the party, Mr. Mustapha Saliu, said in Akure yesterday that with the loss of the Ondo governorship election, the PDP has lost its capacity to win any other election in the country.

Saliu noted that the Edo and Ondo elections were two different scenarios which the PDP had earlier tailored their narratives towards.

The secretary said that the opposition PDP no longer has meaningful ideas and programmes to offer the people.

While berating PDP for not exhibiting the spirit of sportsmanship, the Secretary of the Campaign Council stressed that with the obvious outcome of the election, PDP ought to had done the needful just like APC did after the Edo State election.

However, the PDP in Ondo State yesterday said it would study the results of the election

and take an appropriate action.

The Publicity Secretary, Mr. Kennedy Peretei, stated this in Akure while speaking with journalists on the just concluded election.

Peretei, who spoke at the residence of the party's candidate in Akure urged supporters of the party to be optimistic about the party.

The PDP publicity secretary urged their supporters to be in high spirit alleging that there were pockets of violence during the election.

Also reacting to the election, the President of the Senate, Lawan, described the reelection of Akeredolu as a referendum on his first four years of stewardship.

Lawan, in a congratulatory message to Akeredolu noted that the election was a referendum on the stewardship of Akeredolu since 2016, adding that the governor has passed the examination in flying colours.

He also congratulated the ruling APC on the victory of its candidate at the election, saying the triumph is welldeserved and heart-warming.

The Senate president commended the people for their peaceful conduct at the poll, which has demonstrated their confidence in their country's democratic process.

Fayemi also congratulated Akeredolu on his re-election for a second term in office.

In a statement issued yesterday in Ado-Ekiti, Fayemi said Akeredolu’s electoral victory was an attestation to the fact that the electorate would always reward a performing leader and administration with their votes.

He also commended the people for their peaceful conduct at the poll, a situation, which he said greatly reduced the pre-election tension in the state in addition to crippling the antics of purveyors of violence.

Kwara State Governor,

RESULTS OF ONDO GOVERNORSHIP ELECTION LGAs APC PDP ZLP Akoko North-East 16,572 8,380 3,532 Akoko North-West 15,809 10,320 3,447 Akoko South-East 9,419 4,003 2,004 Akoko South-West 21,232 15,055 2,775 Akure North 9,546 12,263 1,046 Akure South 17,277 47,627 2,236 Ese Odo 13,383 4,680 4,760 Idanre 11,286 7,499 3,623 Ifedore 9,350 11,852 1,863 36,675 11,128 4405 Ilaje 13,278 9,231 1,971 Ile Oluji/Okeigbo 12,643 5,493 5,904 Irele 23,571 9,485 6,540 Odigbo 19,266 10,367 10,120 Okitipupa 6,485 4,049 3,221 Ondo East 15,977 10,627 10,159 Ondo West 15,122 8,421 1,083 Ose 35,957 5,311 408 Owo TOTAL 292, 830 195,791 69,127 ˾ ØØÙßØÍÏÎ Ìã ÞÒÏ ÒÓÏÐ ÏÞßÜØÓØÑ ʩÍÏܘ ÞÒÏ ÓÍÏ ÒËØÍÏÖÖÙÜ ØÓàÏÜÝÓÞã ÙÐ ÖÌËÎËؘ ÜÙÐ ÌÏÖ ÎÙáß ÖËãÓØÕ˲ AbdulRazaq, has also congratulated Akeredolu on his victory, saying the victory was deserving.

In a statement signed by the governor's Chief Press Secretary, Mr. Rafiu Ajakaye, the governor said: “I congratulate His Excellency, the Governor of Ondo State on his victory. It is a deserving reward for his good works.”

Lagos State Governor, SanwoOlu, congratulated Akeredolu Sanwo-Olu, who is the chairman of the APC National Campaign Council for Ondo State Governorship election, said Akeredolu’s success in the election is a validation of people's acceptance of his administration, having impacted positively in their lives during his first term in office.

Speaking yesterday at

Akeredolu's residence in Owo shortly after the INEC declared him and his running mate, Hon. Lucky Aiyedatiwa as governor-elect and deputy governor-elect respectively, the Lagos State governor said the people of Ondo State deserve commendation for coming out in large numbers to perform their civic responsibility and for defying all odds to vote for APC-led administration in the state.

A former National Chairman of APC, Mr. Adams Oshiomhole, felicitated with Akeredolu.

“With this emphatic victory, the good people of Ondo State have surely expressed their appreciation for Akeredolu’s stellar performance in the last four years. Truly, he is tested and trusted.

“I wish Akeredolu’s wisdom and God’s speed as he continues to serve as the people’s governor of Ondo and a bridge-builder,” Oshiomhole said in a statement last night.

MONDAY OCTOBER 12, 2020 • T H I S D AY

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MONDAY 0CT0BER 12, 2020 ˾ T H I S D AY

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NEWS

FG Extends Suspension of New Electricity Tariffs by One Week Onyebuchi EzigboinAbuja The federal government and the organised labour last night resolved to extend the suspension of the new electricity tariffs by one week to enable the technical committee on its review to work out modalities for the implementation of the

agreement reached on the electricity tariffs structure as well as address some grey areas of the report..

This was part of the decisions reached at the meeting between the federal government and organised labour at the Presidential Villa in Abuja.

Chairman of the Nigeria

Nigeria’s COVID-19 Cases Rise By 163 to 60, 266 Martins Ifijeh Nigeria yesterday recorded 163 new cases of COVID-19, bringing to 60, 266 confirmed cases in the country.

Announcing this yesterday, the Nigeria Centre for Disease Control (NCDC) said 51, 735

cases were discharged while 1,115 deaths were recorded.

The new cases include: Lagos, 113; Kaduna, 21; Osun, eight; Ondo, five; Oyo, five; Ogun, three; Bayelsa, two; Taraba, two; Edo, one; FCT, one; Katsina, one; Plateau, one.

#EndSARS: Ganduje Suspends Aide for Criticising Buhari Ibrahim Shuaibu in Kano Kano State Governor, Dr. Abdullahi Ganduje, has suspended his Special Adviser on Media, Mr. Salihu Yakasai, for criticising President Muhammadu Buhari.

Yakasai had lambasted Buhari for not addressing Nigerians over protests against the Special Anti-Robbery Squad (SARS) of the Nigeria Police Force.

Yakasai, who tweeted through his handle, @dawisu, had said the President has no empathy for Nigerians by his inaction.

The media aide wrote this shortly before the Inspector-General of Police (IG), Mohammed Adamu, announced the disbandment of SARS in Abuja yesterday afternoon.

Yakasai had tweeted, “I have never seen a government with zero empathy like that of President Muhammadu Buhari.

“So many times when his people are going through a difficult time and expect some sort of tap on shoulder to reassure them that he is in charge, but he failed to do so.

“The ‘I don’t care attitude’ is on another level.

“To speak to your own people

over issues that are bedevilling them has become something like a favour you are doing to them.

“Over and over again, you cannot spare five minutes to address the nation to calm them down, the same people you went to the 36 states to beg for their votes, it is heartbreaking.”

Reacting in a statement, the Kano State Government described Yakasai’s comments as “unguarded utterances”, noting that his suspension was with immediate effect.

The statement was titled ‘Ganduje Suspends Media Aide over Attack on Buhari’ and signed by the Commissioner for Information, Mr. Muhammed Garba.

The statement released yesterday partly read, “Governor Abdullahi Umar Ganduje of Kano State has suspended his Special Adviser on Media,SalihuTankoYakasaioversome unguarded utterances on the person of President Muhammadu Buhari on the social media platform.

“The state Commissioner for Information, Malam Muhammad Garba, who conveyed the governor’s directive in a statement this afternoon, said the suspension is with immediate effect.

Gunmen Kill Two Persons in Bauchi Community Two persons were killed when a gang ofgunmeninvadedGudumHausawa, a suburb of Bauchi metropolis of Bauchi State.

The attackers, who were more than 10 in number,invadedthecommunity on Saturday in a commando-like style causingpanicandscaringresidentsaway.

Itwasfurthergatheredthatattheend of the attack, two persons, a man and a young girl, were found dead.

Aresident of the community, who spoke to journalists in confidence for security reasons, said the reason for the invasion had yet to be known to the community.

He admitted that there was a minor misunderstandingamongsomepeople recently, but stated that no one could say if the invasion was linked to the rift or not.

The source appealed to the Bauchi State Governor, Senator Bala Mohammed, to, as a matter of urgency, make necessary security arrangements in the community as, according to him, the area has become notorious

for such attacks.

The Police Public Relations Officer in the state, Ahmed Wakil, confirmed that he received the information on the killings, adding that investigation had commenced to apprehend the killers as well as to get to the root of the murder.

ThePPROsaidthestateCommissioner ofPolice,Mr.LawanJimeta,onSaturday drafted armed police personnel to the area in order to maintain law and order as well as to curtail any reprisal.

Wakil, however, called on residents of the community to assist the police in its investigation by volunteering useful information that might lead to the arrest of the killers.

He said Haruna Nbula (Ward Leader of Gudun Sayawa); Hassan Hilbash of Gudun Sayawa; Elicana Samaila of Gudun Sayawa; and Jonathan Ishaya of Rafin Lumba Village in the Tafawa Balewa LGA were arrested for obstruction when police personnel drafted to the area were initially denied access by the people.

Electricity Regulatory Commission (NERC), Prof. James Momoh who confirmed the extension of the suspension of new tariffs regime at the Tripartite Committee meeting by the organised labour, the government and relevant stakeholders, said NERC was committed to ensure that the power sector works no matter what it would take.

As part of palliatives in the power sector, the federal government said it had approved six million meters to be distributed across the country.

The Minister of State for Power, Prince Goddy Jedy-Agba said one million meters were already available and that distributions would start within the week.

He disclosed that the distribution would be completed before December.

The resolution read by the Chairman of the Technical Committee and Minister of State for Labour and Employment, Mr. Festus Keyamo, said, “the committee adopted a two-phase approach to proffer solutions that would help resolve issues affecting the sector in the medium term, whilst providing relief to customers immediately.

“The immediate relief would be provided to citizens for a 2 to

3-month period (not later than December 31, 2020), being the timeline for the conclusion of an extended scope of work for the Technical Committee”.

Some of the issues to address include timeline for the distribution of the six million electricity meters being pledged by government as part of the palliative deal.

In the report of the committee, federal government accepted to procure six million meters to be distributed by the Discos to electricity consumers without metres.

It said: “six million meters will only be through local meter manufacturers and assemblers and will be targeted at creating local jobs and a new meter manufacturing sub-sector in the country”.

The report also provided for salary protection for electricity workers.

It said that government will ensure that the salaries for electricity workers are protected in the revised payment waterfall structure.

The report further states that: “Mandatory monthly publication

by Nigeria Electricity Regulatory Commission (NERC) of allowed billings in Naira for unmetered customers to make the capping regulation more effective.

“NERC will publish maximum charges in Naira for consumers

without meters (in support of the capping regulation); freezing of customer band migration during the interim period: In order to protect customers from changes in tariff during the 2-3 month period of review by the Joint Technical Committee”.

The report said that Discos will be directed to temporarily suspend customer band migration.

“This means that while Discos are expected to fulfill their Performance Improvement Plans (PIP) thereby improving the quality of service to customers, no added charges will be passed on to customers during this period. This measure is aimed at building confidence in the Service-based Tariff structure”.

Other aspects of the technical committee’s report include, the inclusion of labour representation in NERC, extensive review of key sector reforms, ground Audit of implementation across Discos, review of monitoring and evaluation mechanisms set up by NERC and the Discos.

Others are gas pricing: review mechanisms for pricing the domestic supply obligation (DSO) and the foreign exchange component(s), decentralisation of the grid.

The government is to explore ways to accelerate investment and

bring more players into the sector, drive investment and reduce costs for end-users. Options should be in addition to the Franchising and Mini-Grid regulations.

On the issue of import duty waivers for the electricity sector, the committee was mandated to investigate and recommend ways for the electricity sector to receive incentives that will reduce costs across the value chain that will impact on tariff.

Organised labour led by the President of the Nigeria Labour Congress, (NLC), Mr. Ayuba Wabba and Trade Union Congress (TUC), Mr. Quadri Olaleye demanded an inclusion of timelines for the implementation of the report.

They insisted that there should be a time line for the distribution of the six million metres promised by the federal government..

Olaleye sought to know what federal government will do with the N1.7 billion it said will be saved daily from the removal of subsidy on electricity tariff.

But the Minister of Labour and Employment, Senator Chris Ngige interjected and said that federal government is currently experiencing economic difficulties and would rather plough the savings to fund the deficit budget.

COURTESY VISIT...

Commandant, Nigerian Defence Academy (NDA), Major General Jamilu Sarham (left), and the Chief of Naval Staff (CNS), Vice Admiral IbokEte Ibas, during the visit of CNS to NDA in Kaduna...weekend

Two Dead as Hoodlums Attack Soun’s Palace in Ogbomoso Two people were reportedly killed when suspected hoodlums hiding under the guise of #End SARS protesters yesterday attacked the palace of the Soun of Ogbomoso, Oba Oladunni Oyewumi.

The attackers were said to have exchange fire with security operatives at the palace.

They also disrupted a meeting between the Minister of Youth and Sports Development, Mr. Sunday Dare; the Soun of Ogbomoso, Oba Oladunni Oyewumi, and some chiefs.

It was gathered that security operatives rescued the minister, the monarch, and other chiefs at the meeting.

It was not immediately confirmed if the hoodlums’ attack was targeted at the minister and others at the meeting.

While confirming the report, the minister lamented that the hoodlums destroyed properties in the palace.

He tweeted, “OgbomosoHoodlums, thugs and miscreants disrupt stakeholders meeting in

Soun’s palace now -invading, stoning and breaking doors, glasses. Soun, myself, and council chiefs were scurried into safety by the police and Department of State Services (DSS).

“The hoodlums broke into the palace and destroyed chairs, overturned tables, broke windows.

These were not youth or Students.

These were miscreants and thugs who saw a window of opportunity in the protest which (was) since abated. Thankfully, Soun, the chiefs, leaders of Parapo are safe.”

The minister wondered why the

Soun’s palace should be invaded, saying however that peace had been restored.

Dare added, “Ogbomoso youths are law-abiding. But hoodlums have taken over. A combined team of operation Burst from Ibadan and a unit from Iliorin are now on ground in Ogbomoso to help keep the peace, protect the peaceful and innocent and also stop criminal elements. Soun of Ogbomosho yesterday and today personally appealed to this group to stop violence.”

Ondo Poll: I’ll Make My Position Known Soon, Says Ajayi The candidate of the Zenith Labour Party (ZLP) and the deputy governor of Ondo State, Hon. Agboola Ajayi in his reaction to victory of Governor Rotimi Akeredolu in Saturday’s election, said his position would be made know later.

A statement by the Director General of his campaign

Organisation, Dr. Kola Ademujimi, said Ajayi would take “an official position on this election in the coming days.

The statement said that “On behalf of Agboola/Gboye Campaign Organisation and the ZLP, I want to formally appreciate our leaders, members of our great party and particularly the good people of Ondo state for your

support, cooperation and show of love towards our party through your votes for the Zenith Labour Party during the gubernatorial election held yesterday, Saturday 10th October, 2020.”

“I wish to specially commend the resilience, doggedness and strong determination of the National Leader of our party, Dr. Olusegun Mimiko, the

Ondo State chairman of ZLP, Joseph Akinlaja, all members of the state Executive Committee, party leaders and the good people of this state in the face of naked intimidation, harassment, threat and blatant abuse of state powers by the ruling APC government before and during the election.

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COMMENT

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

CAMA AND THE EXTRACTIVE SECTOR

Nigeria joins the league of countries with a speciďŹ c law on beneďŹ cial ownership disclosure, writes Obiageli Onuorah

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n 2013, Nigeria began its journey towards revealing the real owners of its assets in the extractive industries. By 2016, at the anti-corruption summit which took place in London, Nigeria’s President, Muhammadu Buhari made a pledge alongside other world leaders to work together towards revealing real owners of companies doing business across jurisdictions in the world. A communique issued at the end of that summit highlighted the key role that beneficial ownership (BO) disclosure will play in the fight against corruption and illicit financial flows especially in resource rich and developing countries like Nigeria. “We will enhance transparency over who ultimately owns and controls them, to expose wrongdoing and to disrupt illicit financial flows. As recent events have shown, we need to take firm collective action on increasing beneficial ownership transparency,� an excerpt of the communique read.

Further, the communique spelt out how partnerships between local and international jurisdictions will enhance and facilitate the use of BO to track incidences of corruption among collaborating countries. It specifically said: “We will support developing countries to collect beneficial ownership information and use it in public contracting and other sectors work.�

In its earliest policy brief published in May 2016, NEITI highlighted the dangers of secrecy in the ownership of extractive sector assets in Nigeria. In it, the NEITI called on the government to implement and institutionalise ownership transparency as a “systematic and more sustainable way of fighting corruption�

On the fringes, work went on towards getting a register containing real owners of companies in Nigeria’s extractive industry in place by January 1, 2020, the deadline given by the global Extractive Industries Transparency Initiatives (EITI) for all implementing countries to comply with the requirement. By December 2019, NEITI’s beneficial ownership register was in place. The register is publicly accessible on a portal linked to the NEITI website on bo.neiti.gov.ng.

The ultimate game changer, however, is the new Companies and Allied Matters Act, 2020 (CAMA 2020) signed into law by the President in August 2020. CAMA 2020 specifically required individuals and companies in sections 119-123 (Pages 70-73 of the new Act) under the caption: ‘Disclosure of persons with significant control’ to declare their ownership interests and structure.

With an established publicly accessible register of extractive companies and the recently signed CAMA Law 2020, Nigeria has once again blazed the trail of few countries with legal framework for beneficial ownership disclosure not only in its extractive sector, but for every company doing business in the country.

The EITI in its 2019 Standards required implementing countries to “document the government’s policy and multi-stakeholder group’s discussion on disclosure of beneficial ownership�. The global body further recommended that implementing countries should “maintain a publicly available register of the beneficial owners of the corporate entity(ies) that apply for or hold a participating interest in an exploration or production oil, gas or mining license or contract�. Beneficial

WITH THE SUPPORT OF THE MONITORING AND WHISTLE BLOWING ROLE OF THE MEDIA, PROFESSIONAL BODIES AND THE CIVIL SOCIETY, BENEFICIAL OWNERSHIP DISCLOSURE WILL DEEPEN AND STRENGTHEN TRANSPARENCY AND ACCOUNTABILITY IN NIGERIA’S EXTRACTIVE SECTOR, A KEY MANDATE OF NEITI

owners of extractive assets according to the NEITI are the natural person(s) who directly or indirectly ultimately owns or controls at least 5% of a corporate entity. By the CAMA Law 2020 and the NEITI register of beneficial owners of companies, Nigeria has met the above requirements demanded of it by the EITI, a milestone for the country and NEITI. As NEITI and indeed Nigeria celebrate the opportunities provided by the provisions of CAMA 2020, implementing sections 119-123 of the Act and the Requirement 2.5 (e) of the 2019 EITI Standard will need ingenuity. Section 2.5 (e) of the EITI Standard states that: “The multi-stakeholder group (MSGs) should assess any existing mechanisms for assuring the reliability of beneficial ownership information and agree an approach for corporate entities to assure the accuracy of the beneficial ownership information�. Though CAMA 2020 does not set any specific penalty(ies) for a breach of the provisions of Sections 119-123 of the law, it gives bite to the EITI requirement 2.5 which recommended that MSGs should require companies to attest to the beneficial ownership declaration form through a “sign-off by a member of the senior management team or senior legal counsel, or submit supporting documentation�.

Although recent cases like the OPL 245 (Malabu oil) are signals that where the intention is anything but noble, entities will hide or misrepresent facts and politically exposed persons and government officials may use proxies as fronts, the NEITI Act 2007 in sections 16 Subsection 3, 4 and 5 have envisaged some of these challenges and provided sanctions for misrepresentation of facts. This ranged from the fine of N30 million, to the revocation of the operational license of the company, including jail terms and fines for directors or other persons involved in the management of the company. NEITI should invoke this section of the NEITI Act when the need arises, leaning on the legal backing of Sections 2 (e) and (1) of the NEITI Act and Sections 119-123 of the CAMA Law. Furthermore, other sunshine laws in Nigeria could aid ownership transparency. They include the Nigerian Code of Conduct and Tribunal Act 1990 which requires senior government officials including politically exposed persons to disclose their assets and interests in companies; the Public Procurement Act and the Money Laundering Prevention Act which mandate banks and designated non-financial institutions to identify and verify identity of BO of accounts of legal entities carrying out financial transactions. The Bank Verification Number (BVN) requirement by the federal government has also put faces to corporate and private accounts through the use of bio-metric data.

For now, Nigeria joins the league of countries with a specific law on beneficial ownership disclosure. With the support of the monitoring and whistle blowing role of the media, professional bodies and the civil society, beneficial ownership disclosure will deepen and strengthen transparency and accountability in Nigeria’s extractive sector, a key mandate of NEITI. r0OVPSBI JT UIF "TTJTUBOU %JSFDUPS $PNNVOJDBUJPOT BOE "EWPDBDZ BU UIF /&*5*

THE 2021 BUDGET ESTIMATES The timing of the presentation is commendable, argues Boniface Chizea

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he President as was projected presented the 2021 Budget of Economic Recovery and Resilience to a joint session of the National Assembly on October 8, 2020. We must commend the timing of this presentation as it lays the foundation for the much-desired January to December Budget fiscal year. We were also able to discharge this feat last year after a long spell of inability to do so. There were great expectations about the impact of that development on our record of budget performance particularly capital budget implementation. It would be recalled that in the recent past when the budget was routinely approved after the second half of the year that the record of performance of budget implementation was abysmal. We reaped the benefits of this development as was reported by the President in the text of his budget presentation. In spite of the impact of the Covid-19 pandemic, we were for the first time in recent memory able to commence the implementation of the capital budget from the first quarter of the fiscal year with a whopping aggregate expenditure amounting to N1.2 trillion as of September 15, 2020 with all Ministries, Departments and Agencies attaining at least 50% of their capital expenditures. Capital expenditure accounts for the growth and development in any economy.

We are therefore most certainly on course for record budget implementation.

We must also point out that there is still some slack to cover with regard to the timing of the presentation of the national budget to the National Assembly if we wish to guarantee that we keep fidelity to the preferred budget year of January to December. The Fiscal Responsibility Act gives a date of end of August for the budget to be laid before the National Assembly. But we remain confident that this goal will be achieved as it has been reported that the budget implementation was a collaboration between the Executive and the Legislature. The expectation therefore is that the review and approval would be seamless

mindful of the fact that the president had also instructed that all heads of government should be on standby and on the ready for budget defense before the National Assembly committees. While we are at this it is also in order to observe that the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) were approved just the day before the budget presentation and we were duly informed as should be expected that all the assumptions in the budget were embedded in the MTEF. But the closeness of the approval of the MTEF and FSP to the presentation of the budget is problematic. Ordinarily the budget preparation should have followed well after these approvals were received to give credence to the fact that we observed due procedures in the budget preparation.

Budget 2021 has aggregate expenditure of an amount the equivalent of N13.08 trillion up from the initial estimate of N10.523 trillion for Budget 2020 before the revisions which were undertaken consequent upon the onset of the pandemic. This Budget size was based on the assumption of oil price of 40 dollars per barrel with volume sales of 1.86 million barrels per day. We hope that this assumption of volume per day lifting is aligned with the Organization of Petroleum Exporting Countries (OPEC) quota for us because as a leading member of OPEC we should lead from the front with good example of compliance for others to follow.

We must however empathize as we undertake this discussion to appreciate the dilemma of those charged with the responsibility of the preparation of the budget at this particular point in time. Sometimes we permit wishful thinking as the matter in hand is rather problematic to handle otherwise. We have encountered comments to the effect that the assumed benchmark price is ambitious, that it is better to err on the side of caution. What must be cold comfort for us is that we survived the worst ever drop in the price of oil in 2020 and we were none the worse for it.

An inflation rate of 11.95% has been assumed as well as an exchange rate of N379 to the dollar. The Central Bank we would all appreciate has to walk the tight rope of managing the psychology of the market as well as the pressure from the multilateral financial institutions for a harmonization of the exchange rates in the economy. But the projections which I consider really off in spite of the apparent agreement with the World Bank from where I stand is that of growing the economy by 3 per cent in 2021! How is that possible as I stand to be pleasantly surprised? The economy contracted by 6.1 per cent in the second quarter of this year and it does not take much to predict that we are very likely to end the year with the economic growth in the negative territory. It would therefore take some doing for us to attain a growth of 3 per cent in 2021. It is also in order to observe that even if we did so we might not even be seeing much development with that level of growth considering the fact that the population growth in the country averages 3 per cent per annum.

A deficit of N5.20 trillion has been estimated representing 3.64% of GDP contrary to the threshold of 3 per cent included in the Fiscal Responsibility Act. As the President observed during his presentation, we have to accommodate this breach considering the pandemic environment we find ourselves with the need to offer palliatives and various forms of incentives to enable businesses get back on their feet. One of the pleasant surprises we found with the implementation of Budget 2020 is the fact that it was reported that we were up to date with our debt servicing obligations including statutory transfers, the payment of staff salaries while overheads were significantly covered despite the outcry regarding debt sustainability. A total amount of borrowing of N4.28 trillion has been projected for 2021 with the debt service obligation estimated at N3.124 trillion.

We commend the government for not

making budgetary allocations for the payment of subsidy on petroleum products in the budget making definitive statement about its resolve on the matter and for the initiatives regarding aggressive mobilization of resources to help bridge the fiscal gap. As it remains a fact that for most progressive economies that recurrent expenditure is covered from proceeds from sundry taxation. We note and support the innovative stance of giving revenue targets to government owned enterprises, MDAs to help balance the prevalent mindset in budgeting which is overly focused on expenditure. Also, the resolve to provide additional safety nets to cushion the negative impacts of the reforms and to make provisions for domestic legacy debts which often accounted for the bad debts in the books of banks. And the requirement that recipients of statutory transfers are to make quarterly reports to be included in quarterly reports on budget implementation is salutary as it aids accountability.

We note the approval for the establishment of infrastructural company as promoted by the Central Bank to help bridge the yawning infrastructural gap in the country. But it is difficult to believe the report that government has established 50 new additional agencies in an era when we bemoan the skewed structure of the budget in favour of recurrent expenditure crowding out in the process growth inducing capital expenditure. We just celebrated as reported that capital expenditure in the 2021 Budget at 39% is a bit shy of the desired target of 40 per cent. We note with satisfaction the aggressive expansion of rail network across the length and breadth of this country and find particularly cheering the news that the Itakpe Ajaokuta rail line which has been moribund for 30 years has received a breath of life. We look forward to the budget details to be subsequently presented by the Honorable Minister of Finance for as the saying goes, ‘’The enemy is in the details.’’

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EDITORIAL

LAGOS GAS EXPLOSION AND MATTERS ARISING There is need to raise awareness on safety standards

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arely three weeks after a gas tanker exploded in Iju-Ishaga area of Lagos, injuring over 30 people and destroying many buildings, another explosion occurred last week in Baruwa, a densely populated suburb of Lagos. According to reports, an LPG tanker was in the process of discharging its content at a time the station’s generating set was running. The spark and the explosion which followed threw the discharging tanker across the road. Aside the loss of no fewer than five lives, 25 buildings, 16 shops, a private school building, a hotel and several vehicles/tricycles were razed.

While the Department of Petroleum Resources (DPR) has harped on the need for plant operators to take necessary measures to ensure the safety of end-users of cooking gas, it doesn’t appear as if these plants observe any safety standards of their own. That THE RELEVANT a power generating set would be AUTHORITIES NEED TO on at the time ORGANISE SENSITISATION gas was being PROGRAMMES TO ALL GAS discharged is RETAIL OUTLETS ON HOW TO the height of negligence.

OPERATE THEIR BUSINESS This much was WITH MINIMAL RISK confirmed by the Lagos State Emergency (LASEMA) Director General, Damilola Oke-Osanyintola who said that “this was an entirely avoidable incident caused by carelessness on the part of the operators.�

While we commiserate with the families of the deceased, what makes the Lagos tragedy disturbing is that in the past few years, gas explosions of different variants have claimed many lives across the country. Not long ago, a chlorine cylinder exploded at the Plateau State Water Board treatment plant at Lamingo, Dogon Karfe, Jos South local government, leaving eight people dead, among them a pregnant woman and children. Dozens of others sustained varying degrees of injuries.

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Also of increasing concerns are gas explosions of the domestic kind, mostly as a result of leaking cylinders. Ironically, this is coming amid intense campaigns on the need for Nigerians to drop kerosene for gas as a cheaper and cleaner means of cooking. In recent years, fatal explosions had been reported in Akwa Ibom, Lagos and Jigawa States. In one of the incidents, the gas escaped into the air and got to a fire point where a lady was operating a restaurant, killing people along the way. Another gas explosion at Arakale market in Akure, Ondo State was traced to an illegal gas re-filling plant which wounded many and razed many shops.

Perhaps the most sensational was the Abule Ado explosion in the Amuwo Odofin local government area of Lagos in March 2020.

It killed 23 amid large scale destruction of property. According to the Nigerian National Petroleum Corporation (NNPC), the explosion was caused when a truck rammed into a gas cylinder stacked in a gas processing plant near a vandalised petroleum gas pipeline. Six months after the tragic event, reports on investigation are still being awaited. In another incident that is typical of the carelessness often associated with many homes, a female domestic help in Epe, Lagos, turned on the gas and left to chat outside.

By the time she returned to light up the gas, the kitchen was suffused with chemical. The resultant fire and explosion sent her and neighbours scampering for safety. At least 24 people suffered various degrees of burns.

To avert these tragedies, it is important to educate households on the need to gradually replace their metal gas cylinders with fibre cylinders, which is said to be highly fire- resistant. Also, the promise to phase out and replace the gas cylinders in circulation with more advanced ones should be hastened. Some households have been using the same cylinder for upwards of three decades. That is a disaster waiting to happen.

Besides, the relevant authorities need to organise sensitisation programmes to all gas retail outlets on how to operate their business with minimal risk.

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

AISHA YESUFU: THE HIJAB-WEARING REVOLUTIONARY

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omen like Aisha Yesufu are like comets; they come once in a generation bearing the torch of truth, courage and resilience. They are lodestars, shining light on the path to a new world where humankind can thrive without chains and shackles. They are definers of the age; excellent species of their kind.

Aisha bestrides the civic landscape like a rodeo, bringing to submission revilement from traducers and hangers-on of the corrupt and oppressive political class – only with her clenched fist and dauntless voice.

The Chibok girls’ abduction of April 14, 2014 coerced Aisha out of comfort. She was among many other women, who marched on the national assembly to demand the rescue of the schoolgirls in the unwelcoming rain of April 30, 2014. I was there. I saw the power of purpose and the passion for humanity.

Many months after, as the number of those who converged on the Unity Fountain in Abuja for sit-ins withered, Aisha stood holding the candle in the blizzard of state dilatory antics and attacks.

But the question has always been: What

is her game? Who is sponsoring her? Where is she from? Who is her father? Who is her husband? What is her political leaning? Why is she doing this being a Muslim?

Well, Aisha persists in confounding the questions about her. She has thrust background to obtrusive corners and put herself up by the petard for scrutiny. She is neither a political adventurer nor an activist of fortune.

She is a woman dead to self and to whom death has no victory.

Aisha shared her philosophy on mortality in an interview with TheGuardian: ‘’When I was 10 years old, I came to the realisation that the worst thing any human being can do to me is to kill me. I don’t even know how I came about this thought. I am someone who always thinks that anything can happen.

But then, I realise that no matter what, I am going to die anyway. So, basically, dying is not really the worst thing. Death is inevitable, and as a Muslim, I believe that my life is in God’s hands. Whatever is destined to happen will occur. While growing up, I didn’t fear human beings. I have respect for people, but not fear because I know at the end of the day, there is one Supreme Being and it is only Him I fear. So, as long as I have the

right conscience with my God, I am good.’’ Defying the religious orthodoxy, Aisha, the hijab-wearing revolutionary, deconstructed the culture of silencing women in these words: ‘’First of all, I am not from the north. A lot of people always make the mistake of thinking I am from the north, though I was born and brought up in Kano. I am from Agbede in Edo State. I am an Edo woman and married to an Auchi man. Some people say a woman should not be heard, especially a Muslim woman.

But over time in history, there have been exceptional women, who stood out in the Muslim world and did a lot of things. We have people like Aisha, one of the prophet’s wives (peace be upon him), who would stand for justice and would not tolerate any form of injustice. She was very outspoken, very intelligent and very knowledgeable.

There was a time she went to war against a particular caliphate that was involved in some issues she felt wasn’t right.

Relegating women to the background is not about Islam. It’s about the culture of those involved. The woman has many places in Islam. Yes, there are some things she cannot do, but overall, her right has been given to

her and she has a lot she can do. She has a right to property, she can inherit, she can be inherited from and there is child support in case of divorce. But these are things people don’t do again; they forgot and tie things to Islam. Being a Muslim woman doesn’t mean one cannot have one’s voice out there.’’ And why does she keep going despite the minatory onslaughts? Aisha has always said she only seeks a country where ‘’the son of a nobody can become somebody without knowing anybody’’. This is it. This is why her fist is always raised high and her voice blaring from its compartment. She is not stopping. She led a protest against police brutality on Saturday in Abuja where citizens faced yet another savagery. They were gassed, assaulted and reviled.

We cannot stop. We should not stop. Not now. And never. Let the struggle of Aisha inspire us to a new epoch; a revolution against the status quo. We have nothing to lose but our papyrus chains.

We can all be Aisha Yesufu. We just need courage, strong principles, purpose, our voice and a clenched fist. r'SFESJDL /XBCVGP JT B XSJUFS BOE KPVSOBMJTU

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T H I S D AY ˾ MONDAY OCTOBER 12, 2020

POLITICS

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

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

It’s End of an Era for Mimiko as Akeredolu Triumphs in Ondo Nseobong Okon-Ekong and James Sowole write that Goveror Oluwarotimi Akeredolu of Ondo State would still have been re-elected even if his two major opponents, Mr. Eyitayo Jegede of the Peoples Democratic Party and Deputy Governor, Mr. Agboola Ajayi of Zenith Labour Party had joined forces against him. Their combined votes was not enough to stop Akeredolu

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dowu Oladapo left her Ore in Odigbo local government area home to Kiribo her homestead late afternoon on Friday.

She rounded up the business of the day early to embark on the trip. She did not want to miss out on the opportunity to vote for her favourite candidate in the Ondo State governorship election holding the next day, Saturday. Most people from Kiribo had been sufficiently sensitized on the critical nature of this particular election.

Their son, the Deputy Governor of the State, Mr. Agboola Ajayi was running for office on the platform of the Zenith Labour Party (ZLP).

Ajayi had been embroiled in a long battle with his principal, Governor Oluwarotimi Akeredolu. The people of Kiribo and the surrounding communities in Ese Odo local government area of the state were schooled to believe that Ajayi was victimized by Akeredolu for daring to ask for a fair share of the dividends of democracy for his people.

Ajayi had frequently told them that Akeredolu had made governance of the state a family affair such that state functions which ordinarily should be carried out by him on behalf of the governor were assigned to either his wife or his sons. The sidelining of the Deputy Governor coupled with the neglect of the area naturally provided good grounds for a grouse against the Akeredolu administration.

However, when the opportunity came to deploy the legal instrument of the ballot to remove Akeredolu and install Ajayi as governor, the people of Ese Odo could not garner enough votes to express their dislike of Akeredolu and what he represents. The frequent complain of the people includes the fact that for close to 15 years, they had been disconnected from the electricity national grid. They were hopeful that an Ajayi government in Ondo State would prioritise that critical need.

Seeing that they were very vociferous about this particularly need, why did their agitation not express itself through massive votes to Ajayi, at least, in his local government of origin? His poor performance at the ballot in Ese Odo was very revealing.

Ajayi could only secure 4,760 as against the 13, 383 votes scored by the APC candidate, Governor Oluwarotimi Akeredolu, while the PDP scored 4, 680 votes.

Different schools of thought have blamed the dismal performance of the two main opponents of Akeredolu, Ajayi and his Peoples Democratic Party (PDP) counterpart, Mr. Eyitayo Jegede on the widespread incidence of vote buying. The APC was alleged to be offering between N1 million and N1.5 million throughout the 3,009 polling units in 203 wards of all 18 local government areas in the state. The PDP made available N500,000 per Polling Unit, while ZLP could only muster N50,000 in each Polling Unit.

The overriding role played by money in the Ondo governorship election can’t be ascribed to one particular political party. Though there were 17 political parties on the ballot, only three-APC, PDP and ZLP- were clearly visible through representation by agents in almost every Polling unit.

Speaking on ARISE News Television Akeredolu accused Ajayi of deploying huge resources acquired from the state to give former governor Olusegun Mimiko political resurrection. Dr. Mimiko is the promoter of ZLP on whose platform Ajayi contested the election . Jegede’s campaign was believed

Akeredolu celebrating

to be funded by Alhaji Atiku Abubakar, Nigeria’s former Vice President and the 2019 presidential candidate of the PDP and Governor Seyi Makinde of Oyo State, who was the arrowhead of the PDP campaign for Jegede. Funding for Akeredolu is suspected to come directly from the coffers of the state government, augmented with generous support from the National Leader of the APC, Senator Bola Tinubu, Governor Babajide Sanwo-Olu of Lagos State and Governor

Adegboyega Oyetola of Osun State.

Leading independent election monitoring group, Yiaga Africa in its post-election assessment of the Ondo governorship election stated, “Nigerian elections are signposted with practices that compromise the freedom of choice and undermine political legitimacy.

Yiaga Africa notes with great concern the menace of vote-buying and the impunity exhibited by major political actors in procuring votes with huge amounts of cash during the

Ajayi’s desperate ambition to rule Ondo State may be his undoing. It is doubtful if he will be welcome in either the APC or PDP. Having lost in the PDP governorship primary to Jegede, many believe he should have remained in the party to build a stronger platform, but he felt he was a giant and an Iroko in Mimiko watching his back. Albeit, Ajayi’s strength was small. His seeming toughness will be tested in the coming days when the Ondo State House of Assembly its suspended impeachment process against him. For Jegede who Akeredolu has spoken kindly about, the future may require forging new political alignments in order to achieve his ambition of becoming governor of Ondo State.

As the result of the election show, he could only win in three of the 18 local governments. And even if he had an understanding with Ajayi, Governor Akeredolu would still have triumphed against their combined votes

Ondo governorship election. Across several polling units, the secrecy of the ballot was severely compromised despite attempts by polling officials to prevent voters and party agents from showing how ballot papers were marked. On election day, votes traded between N1000 and N7,000 at the polling unit.

It is Yiaga Africa’s opinion that the massive vote buying employed by political actors in the election made it difficult for voters to freely cast their ballots in the polling units where they occurred. It is disappointing that elections are largely defined by the highest bidder and spender.”

However, the organisation concluded that the incidence of vote-buying, though distasteful and not to be encouraged may not have significantly altered the outcome of the election. According to the report, “The INEC official result for the 2020 Ondo State gubernatorial election falls within the Yiaga Africa WTV estimate. Had the official results been changed at the ward, LGA or state collation centres, the official results would not have fallen within the Yiaga Africa WTV estimated ranges. Because the official results fall within the estimated ranges, governorship contestants, parties, and voters should have confidence that INEC’s official results for the 2020 Ondo gubernatorial election reflect the ballots cast at polling units. It is important to highlight that the counting process at polling units was transparent and included representatives from the three political parties that received the most votes.”

Yiaga further posted that, “INEC’s official results for turnout and rejected ballots also fall within Yiaga Africa WTV estimates. Yiaga Africa is able to estimate that turnout is 33.4% with a margin of error of ±1.3% (between 32.1% and 34.7%) while INEC’s official turnout is 32.6%. Similarly, Yiaga Africa estimates rejected ballots are 2.8% with a margin of error of ±0.3% (between 2.5% and 3.1%) while INEC’s official result for rejected ballots is 3.1%. This can be compared to the Ondo 2016 governorship turnout rate of 35% and Ondo state turnout rate of 33% in the 2019 presidential election.”

Based on reports from 97% (291 of 300) of

T H I S D AY ˾ MONDAY OCTOBER 12, 2020

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MONDAY DISCOURSE

Balloting in progress at Arogbo, Ese Odo LGA

sampled polling units, Yiaga Africa’s statistical analysis shows that the APC should receive between 48.9% and 54.1% of the vote; the PDP should receive between 31.2% and 36.6% of the vote; ZLP should receive between 10.5% and 13.3% of the votes, while no other party will receive more than 1% of the vote share.

Mr. Debo Ologunagba, the State Collation Agent of the PDP described the wide and inducement of voters with money “weaponisation of poverty.”

“It is unfortunate the governments we have both at the state and the federal levels have weaponised poverty, it is almost becoming a weapon of mass destruction,” he said.

“They have destroyed the consciousness and the ability of the people to reason positively.

“That is what you saw and witnessed in the distribution and purchase of votes They targeted the poor with N2000, N3000 and they fell for it because they are poor.”

He also said he had reservations on the conduct of the election in areas where there was violence, where INEC and security officials refused to act appropriately.

“It seemed to me that there was a collusion between some INEC officials and security agencies to create that problem,” Mr Ologunagba added.

By not mentioning the involvement of his party in the incidence of vote buying, the PDP Agent was playing the ostrich, with his head buried in the sand, while his exterior is exposed Expectedly Mr. Donald Ojogo, Ondo State Commissioner for Information and Strategy believes that the people have opted for continuity because they are confident in the direction that Governor Akeredolu is leading the state. “They know that the logical way to go is to give another four years to the governor to allow him finish what he has started in many sectors and take the state to an irreversible path of progress. Nobody is saying that Akeredolu or indeed any government can do everything. Governance is always work in progress. What no one can deny is that this administration has been able to manage the resources of the state in a prudent manner, while recording landmark achievements.”

APC’s National Publicity Secretary, Yekini Nabena signed a statement thanking the people of Ondo State for coming out enmasse to reelect Akeredolu. He said, “While we thank the Ondo electorate for voting for good governance, industrialisation, security, empowerment and general welfare of the state, we will continue to advocate for and support safe, free and credible elections that guarantee that valid votes count and the people will prevail.

“The APC particularly thanks President Muhammadu Buhari as leader of the Party and Governor Mai Mala Buni as Chairman of the Party’s Caretaker/Extra-Ordinary National Convention Planning Committee for rallying our supporters, members and leaders, particularly our governors in total support of our governorship candidate, Rotimi Akeredolu.

“We also recognise and appreciate the tireless efforts of the Ondo State APC Reconciliation Committee chaired by the Governor of Niger State, H.E. Abubakar Sani Bello and the APC Ondo State Governorship National Campaign Council chaired by the Governor of Lagos State, H.E. Babajide Sanwo-Olu. “Governor Akeredolu’s reelection is in-

Journalists in canoe being ferried from Agadagba to Arogbo in Ese Odo LGA

deed testament to the inclusiveness, genuine reconciliation and peace the Governor Mai Mala Buni-led APC Caretaker Committee has ensured among party ranks in Ondo State, other chapters and the Party in general,” he said.

Indeed the people of Ondo showed enthusiasm to carry out their civic duty. INEC disclosed that turn out was a little over 32 percent, but people did not mind the weather which became inclement for a better part of the day. The resulting rain led to extension of voting period and caused the exercise which would ended on time to drag in many areas.

Implications of Akeredolu’s Remarks on Jegede One thing that anybody cannot take away from the re-elected Governor of Ondo State, Mr Oluwarotimi Akeredolu, is his frankness and down to earth attitude. Akeredolu is one individual, who does not hide his feelings about any individual or issue. This is the main reason, his supporters, gave him an appelation of “Mr Talk and Do” during the electioneering for his second term.

For this reason and other matters that may not be known to everybody,, some people had been wondering about the likely implication of many sweet remarks that Akeredolu made about one of his opponents in the just concluded governorship election, and in fact the main challenger, Mr Eyitayo Jegede, of the Peoples Democratic Party, that emerged the first runner-up in the election.

Despite seeing Jegede as a major threat to his re-election, Akeredolu, in the heat of the campaign, described him (Jegede) as a friend and somebody eminently qualified to be the governor of the state not just once.

This remark of Akeredolu on Jegede, was not that pleasant to many of his supporters who regarded those words as cheap promotion for one’s “enemy”.

Not done yet, Akeredolu’s commendation in his speech after he was declared the winner of the poll, was also seen by many, as suggestive that the governor may have further relationship with Jegede who is not only a lawyer like the governor but share the distinction of being a Senior Advocare of Niger, as well.

In his address to the people of the state on his victory and the contest, Akeredolu, described his main challenger, Jegede as a worthy adversary.

Akeredolu said Jegede’s participation in the electoral process, was historic.

He said: “Jegede patriotism is not in doubt.

His love for the people is unassailable. He is indeed a worthy adversary. Our State is indeed blessed for having people of his quality.”

The suspicion of the people, may have also been heightened by the fact that Akeredolu, did not defer by any means, to any other candidate in the election not even those who declared support for him at the last minute of the campaign.

Though, Akeredolu in the same speech, noted that his re-election would pose more challenges for him to do more good things for the state and the people, he would need to act the talk and demonstrate his new apelation as “a talk and do” personally.

“It affirms that the confidence reposed in our Administration remains unshaken. It is a statement on your assessment of our performance in the last three and a half years.

“It is unequivocal, direct, inspiring and soul lifting. It is awesome. It is a reward for

Leading independent election monitoring group, Yiaga Africa in its post-election assessment of the Ondo governorship election stated, “Nigerian elections are signposted with practices that compromise the freedom of choice and undermine political legitimacy. Yiaga Africa notes with great concern the menace of vote-buying and the impunity exhibited by major political actors in procuring votes with huge amounts of cash during the Ondo governorship election. Across several polling units, the secrecy of the ballot was severely compromised despite attempts by polling officials to prevent voters and party agents from showing how ballot papers were marked. On election day, votes traded between N1000 and N7,000 at the polling unit. It is Yiaga Africa’s opinion that the massive vote buying employed by political actors in the election made it difficult for voters to freely cast their ballots in the polling units where they occurred. It is disappointing that elections are largely defined by the highest bidder and spender

hard work, dedication, focus, honesty and patriotism.

“It is also a challenge to us for rededication to service in the interest of our people. On this, we shall not relent,” Akeredolu said.

He said the administration, has not relented in the promises made when he was elected for the first time adding that the achievements in various sectors, are testimonies for the dedication to serve the people.

The re-elected governor would have to act the talk, because some people did not want Akeredolu’s re-election, not because his first term was a failure but because of the fear that many second term experience, is not always cheering..

Political Grave of Prominent Politicians The Ondo State governorship election may have finally dug the political grave of Mimiko, who was once revered as invincible. In times past, it would have been unthinkable that the immediate past governor of the state can be defeated anywhere in the state. But he was trounced by the APC in his backyard, in his local government. The ZLP candidate, Ajayi suffered thesame fate, losing in his local government.

Ajayi’s desperate ambition to rule Ondo State may be his undoing. It is doubtful if he will be welcome in either the APC or PDP. Having lost in the PDP governorship primary to Jegede, many believe he should have remained in the party to build a stronger platform, but he felt he was a giant and had an Iroko in Mimiko watching his back. Albeit, Ajayi’s strength was small. His seeming toughness will be tested in the coming days when the Ondo State House of Assembly resumes its suspended impeachment process against him.

For Jegede who Akeredolu has spoken kindly about, the future may require forging new political alignments in order to achieve his ambition of becoming governor of Ondo State. As the result of the election show, he could only win in three of the 18 local governments. And even if he had an understanding with Ajayi, Governor Akeredolu would still have triumphed against their combined votes.

Commendation for INEC All stakeholders in the election including the leading political parties Md their candidates commended INEC in the area of deployment of materials and coordination of the process.

Yiaga Africa commends INEC for its efforts to improve on the election day process and efforts to comply with the COVID-19 protocol with respect to providing disinfectant/hand sanitizers in all polling units. Yiaga Africa however, believes that there are opportunities for improvement in our elections and calls on INEC to conduct a post-election audit on both the Edo and Ondo governorship elections in order to enable the Commission to assess its performance, identify operational areas for improvement and drive policy reforms to effectively plan for future elections. Additionally, the National Assembly should accelerate reforms to the Electoral Act to legalize the effective deployment of technological tools to promote citizen’s participation and enhance transparency in the electoral process. The INEC Result Viewing portal deployed for the election has demonstrated how citizens’ access to polling unit results increases the integrity of the electoral process and encourages acceptability of electoral outcomes

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POLITICS

Winners and Losers in Ondo Governorship Contest Nseobong Okon-Ekong and James Sowole write that from the series of curious and exciting events that attended the Ondo State governorship contest, heroes and villains have emerged

Akeredolu

Sanwo-Olu

Mala-Buni

Tinubu

Makinde

Jegede

Ajayi

Mimiko

All Progressives Congress: On Song Again bout three weeks after it suffered a crushing and humiliating defeat in Edo State, the ruling All Progressives Congress is on song again with a decisive victory in the recently concluded Ondo governorship election. Despite an uncertain atmosphere in its governorship candidate selection process, the party was able to close ranks and those who lost in the primary were persuaded to rally round the winner.

Mending The Yobe State governor and Caretaker Chairman of the APC, Mai Mala-Buni woukd certainly count the positive outcome of the Ondo governorship election as one of his achievements. An important task of his committee is the peaceful resolution of all aggrieved persons and groups in the APC. And Ondo was looking like it was going to slip out of the hands of the APC if foul sentiments from contestants in the party’s governorship primary was not carefully managed.

Governor Olauwarotimi Akeredolu: Triumph Over Treacherous Deputy Arguably, no Nigerian governor has endured as much hostility from his deputy as Governor Oluwarotimi Akeredolu. His deputy, Mr. Agboola Ajayi constituted himself into a veritable opposition that could not be removed within his administration and sought to displace his principal by seeking the office on the platform of the Zenith Labour Party (ZLP). His clear triumph in the election, particularly against Ajayi is most reassuring. Akeredolu trounced Ajayi with over 222,000 votes. While the difference in votes between the governor and first runner-up, Mr. Eyitayo Jegede of the Peoples Democratic Party (PDP) is over 97,000.

Senator Bola Ahmed Tinubu: Back into Reckoning From being the butt of many insidious jokes following the outcome of the governorship election in Edo State, the acclaimed National Leader of the APC , Senator Bola Ahmed Tinubu quietly retreated into his shell to lick his would and restrategise. However, APC’s victory in the Ondo State governorship contest has put him back into reckoning and retooled his rumoured presidential ambition.

LOSERS Peoples Democratic Party: Truncated Ambition The attempt by the Peoples Democratic Party (PDP) to use this election as an opportunity to consolidate on its performance during the 2019 national election, when its Presidential Candidate, Alhaji Atiku Abubakar, won presidential election in Ondo State and the party also won two out three senatorial districts in the state, has been truncated. The election results may lead to further disintegration of the PDP leadership. Many fair weather politicians in the PDP will switch political party loyalty to may the ruling All Progressives Congress (APC).

emergence as the party’s candidate. With the results of the election, Ajayi,who is the incumbent Deputy Governor of the state, may eventually lose his seat as the Number Two citizen of the state. The process for the removal of the Ajayi as the deputy governor, was only suspended to avoid distractions, that it may create among stakeholders. Moreover, the result of the election would adversely affect the political future of Ajayi considering the fact that the prevailing sentiment, was that the power should go to Ondo South after the second term of Akeredolu.

But Ajayi may have lost the opportunity to ever rule the state. Though he was believed to have deployed a lot of financial resources into the contest, he has betrayed trust and is already being seen as a traitor in many circles.

A

Orimisan Aiyedatiwa: New Confidant, Trusted Ally Having been once bitten by a back-stabbing deputy, the choice of Mr. Orimisan Aiyedatiwa as running mate to Governor Oluwarotimi Akeredolu must have followed wide consultation and careful consideration. Though the governor had an expansive pool of skilled professionals and experienced politicians to choose from, picking Aiyedatiwa from the lot is a measure of the confidence and trust reposed in him as his new confidante and ally in the last lap of his administration.

Governor Babatunde Sanwo-Olu: Passed an Important Test As the Chairman of the APC National Campaign Council for the reelection of Governor Akeredolu, Lagos State governor, Mr. Babatunde Sanwo-Olu stands tall for delivering on an important assignment that the ruling entrusted into his hands. There is a good chance the APC may consider him to deploy the same diligence when he is called upon in the future.

Mai Mala-Buni: Good Result of Fence

Olusola Oke, Segun Abraham, Isaac Kekemeke and former ,Ondo APC Guber Aspirants: Buried Hatchet They were arguably the reason, the APC posted poor results in the 2019 presidential and National Assembly elections. Irreconcilable differences and widening rift had adverse effects on the APC in that election, this time around, the readiness of the likes of Olusola Oke, Segun Abraham, Isaac Kekemeke and other APC governorship hopefuls in Ondo State to embrace peace, once the party’s primary was won and lost makes all of them winners along with Governor Akeredolu.

Senator Omotayo Alasoadura, Senator Ajayi Boroffice, Pius Oyekanmi, Kayode Ajulo, Pius Akinyelure and other Eminent Ondo Sons on the APC National Radar It would have been a big disgrace on the political reputation of APC bigwigs from Ondo State like Senator Omotayo Alasoadura, Minister of State for Niger Delta Affairs, Senator Ajayi Borrofice, Dr. Kayode Ajulo, Mr. Pius Oyekanmi, director general of the Technical Aid Corps and other eminent persons from Ondo state who are big players on the national APC field had the party lost in the Ondo State governorship election. Happily, they all have a victory song in their mouth.

Governor Oluseyi Makinde: Deplered Credibility The Oyo State Governor, Mr Oluseyi Makinde is a major loser as the Chairman of the National Campaign Council for the 2020 Ondo State Governorship election for the PDP candidate, Mr Eyitayo Jegede. Equally, the election, depleted Makinde’s credibility as he was condemned for raising false alarm that the Independent National Electoral Commission (INEC) chose Prof. Eyitope Ogunbodede, the Vice Chancellor of the Obafemi Awolowo University, as the Chief Returning Officer. However, INEC denied the allegation and the commission’s explanations suggested ignorance on Makinde’s part. Also, the profile of Makinde, whose mother hails from Akure, Ondo State, would have risen higher, if Jegede and the PDP, had won the election.

Eyitayo Jegede: Suffers Big Setback Had Eyitayo Jegede won the election, he would have been the first indigene of Akure, Ondo State capital, to become a democratically elected governor in the history of the state created in 1976. The loss of Jegede also translates to the loss of the entire Akure Kingdom because the general sentiment among politicians, especially, people from the other two Senatorial districts was that the Ondo Central should wait for another 12 years to produce the governor. Jegede would have been able to play a prominent role in the 2023 Presidential Election, if he had won, that is supposing his benefactor, Alhaji Atiku Abubakar, emerges as a presidential candidate.

Agboola Ajayi: Traitor, Not to be Trusted The candidate of the Zenith Labour Party (ZLP), Mr Agbbola Ajayi, is a heavy loser in the election in view of the circumstances of his

Olusegun Mimiko: Deflated Ego The fact that the immediate past Governor of Ondo State and a National Leader of the ZLP, Dr Olusegun Mimiko, popularly called Iroko, even lost election in his Ondo West Local Government was a major minus to his political posture. For supporting Ajayi, Governor Akeredolu has never hidden his feelings that the friendship between him and his immediate past predecessor, had become strained forever.

The support that Mimiko gave Ajayi may have further widened the gap between him and some PDP governors. It was a case of deflated ego for Mimiko, who many people thought, can get whatever he wants politically in Ondo West and Ondo East. The results of the election has further reduced the polical influence of Mimiko. Some people were even of the opinion, that Iroko is dead politically. He has already been labelled as a traitor by many people, especially, those who do not like his style of politics.

Social Democratic Party: Uncertain Future The last minute declaration of the national leadership of the Social Democratic Party (SDP) under its Acting National Chairman, Dr Olu Agunloye, for the PDP, made the party and Agunloye losers in the election. The results of the election, may further scatter membership of the SDP as its governorship candidate, Peter Oyeleye Fasua, declared support for Akeredolu just like its only House of Representatives member, Hon Tajudeen Adefisoye, also worked for the APC candidate.

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

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FEATURES

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

Giving Voice to the Girl-child Chiemelie Ezeobi writes that the recently marked 2020 International Day of the Girl themed “My voice, our equal future� was quite instructive in the face of the burgeoning challenges facing the girl-child, ranging from sexual violence to gender academic disparity, early marriage and even female genital mutilation

The girl-child needs a voice

"T

eenage girls are the new leaders of our time, creating global movements for change. They are ready for the challenge. On this International #DayOfTheGirl, let’s stand together with them and for them�.

That was the apt and timely clarion made by the UN Secretary-General, AntĂłnio Guterres.

Every year on 11 October, the International Day of the Girl is marked and this year was not in anyway different, although it was marked without the usual fanfare because of the COVID-19 pandemic.

Voice for the Girl-child Since 2012, October 11 has been marked as the International Day of the Girl. The day aims to highlight and address the needs and challenges the girl-child faces, while promoting girls' empowerment and the fulfillment of their human rights. Also, UNICEF launches an annual campaign with girls to amplify their voices and stand up for their rights.

This year, the theme “My voice, our equal future�, examined the progress made since the adoption of the Beijing Declaration and Platform for Action, just as they called for all to seize the opportunity to reimagine a better world inspired by adolescent girls – energised and recognised, counted and invested in.

According to UNICEF, as adolescent girls worldwide assert their power as change-makers, the International Day of the Girl 2020 will focus on their demands to live free from gender-based violence, harmful practices, and HIV and AIDS , learn new skills towards the futures they choose and lead as a generation of activists accelerating social change.

Also, according to the United Nations (UN), the theme was targeted at getting girls to assert their power as change-makers, as they inspire, break boundaries and take charge of their own future.

Beijing Declaration In 1995, before the girls of today were even born, the fourth World Conference on Women made history for the women’s rights agenda with the adoption of the Beijing Declaration and Platform for Action was adopted, the most visionary blueprint for the empowerment of women and girls.

This was made possible by 30,000 women

Photos: Google and men from nearly 200 countries, who arrived in Beijing, China for the Fourth World Conference on Women, determined to recognise the rights of women and girls as human rights.

The conference culminated in the adoption of the Beijing Declaration and Platform for Action: the most comprehensive policy agenda for the empowerment of women.

According to the UN, it was to celebrate all of the achievements by, with and for girls since the adoption of the Beijing Declaration and Platform for Action and the passage of the Convention on the Rights of the Child in 1990, that the theme was borne.

In the years following, women pressed this agenda forward, leading global movements on issues ranging from sexual and reproductive health rights to equal pay. More girls today are attending and completing school, fewer are getting married or becoming mothers while still children, and more are gaining the skills they need to excel in the future world of work.

Today, these movements have expanded.

They are being organised by and for adolescent girls, and tackling issues like child marriage, education inequality, gender-based violence, climate change, self-esteem, and girls’ rights to enter places of worship or public spaces during menstruation. Girls are proving that if given a voice, they can change the world.

However, they noted that despite these achievements, that was not to say that many of the commitments made to girls were fulfilled. “Each year, 12 million girlsunder 18 are married; 130 million girlsworldwide are still out of school; And approximately 15 million adolescent girlsaged 15-19 have experience forced sex. “The more than 1.1 billion girls in the world have had enough. This year on International Day of the Girl, we’re sharing the stories of girls around the world are calling to uphold the commitments made nearly 26 years ago, and create a better future for all�.

Their clarion call harped on the fact that with the 25th anniversary of the Beijing Platform and Declaration for action, on this International Day of the Girl-child, “let us renew our commitment to invest in girls’ health, education and safety and put an end to harmful practices that hold girls back from reaching their full potential�.

UN Declaration of Child Rights Also tilted at protection the rights of the child,

of which girls are included, The Declaration of the Rights of the Child, sometimes known as the Geneva Declaration of the Rights of the Child was borne.

The Declaration of the Rights of the Child, is an international document promoting child rights, drafted by Eglantyne Jebband adopted by the League of Nations in 1924, and adopted in an extended form by the United Nations in 1959.

Thus, the UN adopted the Declaration of the Rights of the Child on November 20, 1959 and the Convention on the Rights of the Child on November 20, 1989 which harped on the fact that the child must be given the means requisite for its normal development, both materially and spiritually.

Despite these existing documents to protect the rights of the child, including the female child, so many challenges have hampered its 100 per cent fulfillment.

Early Marriage One of such challenges faced by the girl-child in Nigeria is early marriage. Nigeria has one of the highest child marriage prevalence rates in the world. In Nigeria, 39 per cent of girls are married off before age 18 and 16 per cent are married before they turn 15 years old.

However, according to the NDHS 2013, the number of Nigerian girls that are married before their 18th birthday is as high as 58.2 per cent.

The prevalence of child marriage varies widely across the country, but figures are as high as 76 per cent in the North-west region, compared with 10 per cent in the South-east.

Ending child marriage requires strategies for girls’ empowerment, social and cultural norms change, legal reform, and policy action.

The Child Rights Act of 2003 set the national legal minimum age of marriage at 18 years but it is yet to be ef- fectively implemented.

There are 12 Northern states that have yet to pass the bill and agree on the minimum age of marriage. To be effective, state assemblies must take the necessary meas- ures to implement the Child Rights Act, including concrete steps to execute the minimum age of mar-riage.

Along with the Child Rights Act, Ni- geria at national and sub-national levels needs to fast track the im-plementation of the Universal Basic Education act with special emphasis on girl education.

Also, according to UNICEF, Nigeria has the largest number of child brides in Africa with more than 23 million girls and women who were married as children, most of them from poor and rural communities. While data suggests a decline of nine per cent in the prevalence of child marriage since 2003, and a projected further decrease of six per cent by 2030, Nigeria’s rapid population growth means that the number of child brides will in fact increase by more than one million by 2030 and double by 2050.

Female Genital Mutilation According to reports, just over one in four girls and women (27 per cent) aged 15-49 years have undergone female genital mutilation/ cutting (FGM/C), a rate that is still lower in Nigeria than in many countries.

However, due to its large population, Nigeria has the third highest absolute number of women and girls (19.9 million) who have undergone FGM/C worldwide. While prevalence continues to drop, with a projected further five-point decline by 2030, the population explosion is expected to result in the numbers of those affected to remain unchanged by 2030.

FGM otherwise known as circumcision is an invasive and painful surgical procedure that is often performed without anesthetic on the girl-child before puberty. It is an old traditional practice still being practiced in parts of Nigeria, making it one of the 27 countries in Africa where FGM is still being celebrated.

In this circumcision, the prepuce of the girl child is removed and their clitoris may be partially or completely removed and in some cultures, they go as far as removing the labia minora while the labia majora are sewn together, covering the urethra and vagina. At the same time, a small opening is retained for the passage of urine and menstrual fluid.

But despite a law criminalising FGM, zero enforcement has been its bane. As far back as 2002, there were talks by the Nigerian legislature to outlaw FGM and impose a two year jail term for offenders, although it allows for an option of a fine of 100 dollars or the imposition of both a fine and incarceration of six months.

Finally, when the bill which is called 'Violence against Persons (Prohibition)' was passed, it seeks to prohibit female circumcision or genital mutilation, forceful ejection from home and

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FEATURES

UN Secretary-General, AntĂłnio Guterres

Minister of Women Aairs, Dame Pauline Tallen

The Director General, Centre for Black and African Arts and Civilisation, Hon. Olubunmi Amao

harmful widowhood practices.

However, despite a law clearly stating the government's position against the practice, lack of enforcement has been the bane of it. The apathy of those that should enforce this ban has been declared one of the main issues why the practice is still popular. Also, the lack of awareness of the dangers posed by FGM is another problem.

So, with the law criminalising FGM, it definitely behooves the executive to enforce the laws passed by the legislature, even as community leaders should be engaged to help raise awareness on the dangers of the age-old cultural practice.

Educational Gender Disparity In terms of equality in academic pursuit, the girl-child often comes in lacking. Although education is a basic human right and has been recognised as such since the 1948 adoption of the Universal Declaration on Human Rights, there is still an existing gender disparity that faces the girl-child. In most communities, the male child is often bestowed on the privilege to education as against the girl-child.

Some factors might be responsible for this- cultural and socio-economic reasons- that prevent the girl-child from having adequate access to education.

Culturally, the girl-child is made to stay at home and learn to tend to her family instead of attending school. Another reason is that the Nigerian tradition attaches higher value to a man than a woman, whose place is believed to be the kitchen.

The socio-economic factors that have prevented the girl-child from education on the other hand boils down to poverty, early marriage, child labour, as well as some structural and institutional factors.

Child Labour One of the traditional means of socialisation of children is through trading. However, the introduction of young girls into street trading increases the vulnerabilities of the girls to sexual harassment. Sexual abuse of young girls in Nigeria is linked to child labour.

Underage street hawking is a universal phenomenon that is not only common to Nigeria, as it is practiced in both industrialised and developing countries of the world. However, child labour, of which underaged street hawking features prominently, constitutes a serious problem.

From Kano to Anambra, Lagos, Rivers and other states of the federation, the social anomaly seems to be on the increase despite measures put on ground to ameliorate it.

Without a doubt, the consequences of underaged street hawking are far-reaching.

It has a devastating effect on the education of children who practice it as it distorts government policies on education due to high rate of out of school children. Sometimes, the underage street hawkers are drawn into delinquent actions that may even dovetail to petty robbery and then graduate into robbery.

Also, majority of such underage girls who hawk are at the mercy of rapists and traffickers.

Sometimes, these child hawkers are exposed to health challenges, accidents, stress, kidnapping, sexual abuse, and even death.

Sexual Violence Although child sexual abuse in Nigeria is an offence under several sections of chapter 21 of the country's criminal code, a survey by Positive Action for Treatment Access, revealed that over 31.4 percent of girls said that their first sexual encounter had been rape or forced sex of some kind.

Violence against children occurs in homes, families, schools, communities and other places where children should feel safe. Again, according

in all aspect of endeavours.�

Amao further said “This is a clarion call to action for radical social and political change to tear down barriers of discrimination and prejudices that continue to cause impediment to the growth of the girl child. “CBAAC enjoins government at all levels to join forces and reaffirm their commitment to end the scourge of violence against adolescent girls and to promote their empowerment in all ramifications. “This year’s celebration is a key moment for advocating with and for girls and also presents an opportunity to reimagine a world shaped by the voices, visions and solutions to drive progress towards a gender equal world.“

An out of school girl hawking ďŹ sh in Oshodi

Photo: Ayodeji Ake

to UNICEF, abuse in all its forms are a daily reality for many Nigerian children and only a fraction ever receive help.

They posited that six out of every 10 children experience some form of violence – one in four girls and 10 per cent of boys have been victims of sexual violence. Of the children who reported violence, fewer than five out of a 100 received any form of support.

The drivers of violence against children (VAC) are rooted in social norms, including around the use of violent discipline, violence against women and community beliefs about witchcraft, all of which increase children’s vulnerability.

Arts and Civilisation (CBAAC) reaffirmed its commitment to end scourge of violence against adolescent girls and to promote their empowerment in all ramifications.

According to CBAAC Director General, Hon. Olubunmi Amao, the 2020 theme is focused on the demands of the girl child to live free from gender-based violence, harmful practices, and HIV and AIDS. She noted that it is also geared to encourage them to learn new skills towards the future they choose, recognise their rights, highlight the challenges they face around the world and lead as a generation of activists accelerating social change.

She lamented that the girl child faces multiple challenges largely attributed to their age and gender. “Some ethnic biases, cultural norms, religion, societal pressure, peer group, and denial to qualitative education have all in one way or the other heightened the existing disadvantages she faces in the society, thereby preventing her from realising her full potentials,� she added.

Amao said: “It is line with these factors that the Centre for Black and African Arts and Civilisation (CBAAC) is joining the rest of the world to commemorate this year’s International Day of the Girl Child. “The centre recognises the girl child (especially the black girl) as a potential gender that contributes handsomely to the economic and political growth of the future of their respective communities, hence the need to raise awareness on issues facing them such as lack to basiceducation, nutrition, forced child marriage, legal rights and medical rights. “As a Pan-African Cultural Organisation whose mandate is to propagate the African culture in its totality, CBAAC identifies with girls all over the world and in Africa particularly, to address the challenges, biases, dangers and injustices they deal with. “Girls have the right to a safe, educated and healthy life not only through their critical formative years but also as they mature into women hood. If properly equipped, they have the potential to change the world to a more equitable and prosperous one. “As an African adage goes “if you educate a boy, you educate an individual, if you educate a girl you educate a community�. “This succinctly explains the need to protect the right of the girl child and give them voices to express their needs and rights regardless of their sex. “Girls should neither be limited nor relegated based on their gender. They should be given equal opportunity as their male counterpart

Promoting Rights of the Girl-child in Nigeria Across Nigeria, the day was celebrated by different states, groups and women bodies, all making affirmations and pledges towards the protection of the girl-child.

On her part, the Minister of Women Affairs, Mrs Pauline Tallen said the ministry has made tremendous progress in the promotion of the rights of the girl-child.

Speaking the launch of a campaign to support girl-child education and activities for the 2020 International Day of the Girl-Child, she said though there was progress, the discrimination and violence against girls and violation of their rights still persist.

She also lamented that girls were estimated to constitute the highest number of out-of-school children around the globe, thus stressing the need to promote girl-child education by all and sundry.

Harping that the effect of the COVID-19 pandemic had further jeopardised the gains recorded in the past in the programmes organised for the girl-child, she said cases of rape have escalated geometrically in the country.

She said “as we continue to widen the scope of the ministry’s partnership in delivering on the goal of the girl-child education, the occasion of the 2020 International Day of the Girl-Child is a time to support more girls in school.

The Chairperson, House of Representatives Committee on Women Affairs, Mrs Adewumi Onanuga, who spoke virtually, harped on the need for parents to support girl-child education, while the Senior Special Assistant to the President on Women Affairs, Hajia Hajo Sani, urged Nigerians to unite and tackle the challenges faced by the girl-child, especially rape.

CBAAC’s Commitment to Fight Violence against the Girl-child To mark the 2020 International Day of the Girl-child, the Centre for Black and African

Action Plan According to UNICEF, its Platform for Action specifically calls on the global community to eliminate all forms of discrimination against girls; eliminate negative cultural attitudes and practices against girls, as well as promote and protect the rights of girls; and increase awareness of their needs and potential.

They also charged all to eliminate discrimination against girls in education, skills development and training; eliminate discrimination against girls in health and nutrition; and eliminate the economic exploitation of child labour and protect young girls at work.

They are also to eradicate violence against girls; promote girls’ awareness of and participation in social, economic and political life; and strengthen the role of the family in improving the status of girls.

Also, according to Save the Children.org, in its publication tagged ‘Changing the story of the Nigerian Girl-child’ what needs to be done is a tripartite process that should involve the government, civil society organisations (CSOs) and development partners.

For the government at national and subnational levels, the organisation said they must take the lead, adding that the states that have not passed the Child Rights Act need to do so immediately and start implementation.

They further posited that since the Universal Basic Education Act 2004 mandates free and compulsory education for all children up to junior secondary level in Nigeria, government at national and sub-national level must ensure the effective implementation of this law as a key first step towards reducing early marriage.

They noted that government also needs to ensure that quality teaching and learning are taking place in all primary and junior secondary schools, as well as remove all barriers that make it difficult for young girls to go to school, including the costs associated with school attendance such as uniforms, extra school-imposed levies and transportation costs as schools must also be sensitive to cultural norms.

For the CSOs, they charged them to organise themselves by putting continuous pressure on government at national and sub-national level regarding the implementation of free and compulsory education, as well as monitor progress and tracking of resources to ensure accountability.

Also, community leaders needs to ensure that community structures continue to respond positively to all efforts encouraging girls to stay in school until at least the completion of junior secondary education.

To the development partners and donors, they charged them to put the girl-child development at the center of their development efforts, knowing that doing so will lead to rapid and lasting change.

They are also to collaborate with government at national and sub-national levels to take on these important issues, just as continual production of evidence and learning will also need to be supported by development partners.

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BUSINESSWORLD R A T E S MONEY MARKET OVERNIGHT OBB

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Group Business Editor Obinna Chima

Email obinna.chima@thisdaylive.com 08152447875

O C T O B E R

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

641.80% 2% 2.41%

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

Quick Takes Rahul De Now CEO MTN Liberia

CONFERMENT CEREMONY

L-R:VicePresident,CharteredInstituteofTaxationofNigeria(CITN),Mr.AdesinaAdedayo;President/ChairmanofCouncil,GladysOlajumokeSimplice;Special Guest of Honour/Partner and West Africa Tax Leader, Deloitte, Mr. Yomi Olugbenro; and Deputy Vice President, CITN, Mr. Samuel Olushola Agbeluyi, at the CharteredInstituteofTaxationofNigeria2020fellowconfermentceremonyheldinLagos...recentl ETOP UKUTT

Equities Investors Gain N778bn despite Profit Taking Goddy Egene Investors in the equities market last week gained N777.9 billion following continued patronage of the market.

The stock market, in the past three weeks, has recorded positive performance as investors are attracted by the currently low market valuation amidst the continued low yield environment in the fixed income space.

As a result, market capitalisation rose by N777.9 billion to close at N14.852 trillion, while the Nigerian Stock Exchange (NSE) All-Share Index rose by 5.3 per cent to close at 28,415.31. The gain would have been higher but for the profit taking that started in the middle of the week and lasted for three days.

Trading had opened the week positive on Monday with a gain of 2.1 per cent. The positive performance was sustained on Tuesday with a gain of 4.9 per

CAPITAL MARKET cent, the highest on record since April 2015. However, profit taking set in on Wednesday making the NSE ASI to close the week with a gain of 5.3 per cent to be at 28,415.31.

Apart from the index soaring to a record high, volume and value of trading also jumped by 105 per cent and 109 per cent respectively to 3.140 billion shares worth N35.372 billion exchanged in 35,099 deals from 1.532 billion shares valued at N16.901 billion that exchanged hands 17,882 deals the previous week.

Analysts at Cordros Research said they expect the market might continue to benefit as domestic investors seek alpha-yielding opportunities in the face of increasingly negative real returns in the fixed income market.

They, however, advised

investors to trade in only fundamentally justified stocks as the weak macro environment remains a significant headwind for listed companies.

Meanwhile, the Financial Services industry led the activity chart with 2.325 billion shares valued at N25.816 billion traded in 21,306 deals. The Oil and Gas industry followed with 200.567 million shares worth N1.012 billion in 1,977 deals, while the third place was occupied by the Industrial Goods industry, with a turnover of 149.200 million shares worth N3.631 billion in 2,991 deals.

Trading in the top three equities namely Zenith Bank Plc, FBN Holdings Plc and United Bank for Africa Plc accounted for 1.236 billion shares worth N15.724 billion in 9,774 deals.

In terms of price movement, 53 stocks appreciated higher than 36 equities in the previous week, while only 14 stocks depreciated,

lower than 15 equities in the previous week.

Eterna Plc led the price gainers with 32.4 per cent followed by International Breweries Plc with 21 per cent. Africa Prudential Plc and Trans-National Express Plc went up by 20.6 per cent and 19.4 per cent respectively.

FBN Holdings Plc and Access Bank Plc chalked up 19.2 per cent and 16.4 per cent in that order just as Glaxo Smithkline Consumer Nigeria Plc, NASCON Allied Industries Plc and Linkage Assurance Plc 16 per cent, 15.8 per cent, and 15.7 per cent respectively.

Conversely, UACN Property Development Company Plc led the price losers with 11.9 per cent, trailed by Tripple Gee and Company Plc and DEAP Capital Management & Trust Plc that shed 10 per cent each.

Continued on page 24

PwC Predicts 30% Unemployment Rate for Nigeria by Q4 Peter Uzoho Nigeria’s unemployment rate has been projected to hit a high of 30 per cent in the fourth quarter of 2020 amid the effect of COVID-19 on the economy, PwC has stated.

PwC disclosed this in its latest Nigeria Economic Alert, which analysed the latest unemployment figures released by the National Bureau of Statistics (NBS).

The statistical agency had in its latest Labour Force Survey, said that Nigeria’s unemployment rate was 27 per cent -four percentage points higher than the 23 per cent reported in Q3 of 2018.

PwC explained that by the survey, the unemployment rate was 29 per cent which was higher than the 20 per cent

ECONOMY recorded in Q2 of 2018, adding that when combined, 52 per cent of the labour force was either without jobs or working below their potential.

It said some of the factors that accounted for the rise in unemployment and underemployment included low level of industrialisation in the country; slow economic growth; low employability and quality of the labour force; slow implementation of the national labour policy, and lack of coordinating labour policies at the subnational level.

It estimated that the unemployment rate could reach 28 per cent in Q3, 2020 and 30 per cent by

Q4, 2020 based on its internal models.

It hinged its estimate on the assumptions that an estimated real GDP (Gross Domestic Product) of about N280,000 was required to absorb a single employed person from Q2, 2020 to Q4, 2020 due to the economic effects of COVID-19. “We assume that the GDP would shrink by 5.4 per cent IMF (International Monetary Fund)�, PwC said.

It also declared that the labour force could grow to over 80 million by Q2 of 2020.

While highlighting and analysing current policies of the federal government aimed at reducing the unemployment rate, especially government’s anticipation of 39.4million job losses by December due to the

pandemic, PwC added that the high rate of unemployment in Nigeria was not easy to solve.

Expressing the belief that there is a path forward, PwC recommended that for a start, there must a commitment to labour programmes enshrined in the NESP (National Economic Sustainability Plan) and the National Employment Policy.

It further said: “However, labour programmes are not solely enough to absorb the current stock of unemployed Nigerians, let alone new population that will join the labour force in a few years. This is where economic reforms come to play. “Fiscal labour initiatives can only complement economic re-

MTN Nigeria has announced that its Chief Marketing OďŹƒcer, Rahul De, is vacating his position to assume a new role within the MTN Group.

Eective November 1, Rahul will become Chief Executive OďŹƒcer, MTN Liberia. Rahul was appointed Chief Marketing OďŹƒcer of MTN Nigeria in 2015 and went on to drive the sustained growth of MTN’s voice and data business. Prior to his appointment in MTN Nigeria, Rahul held senior roles across India, Malaysia and Africa, driving growth and leading business transformation in hyper-competitive environments.

Expressing appreciation over Rahul’s commitment and valued service, MTNNigeriaCEO,FerdiMoolmansaid,“WethankRahulforhisunwavering dedication and commitment to ensuring that MTN Nigeria remains the market leader in our industry; and congratulate him on his new role. I know that he will continue to shine bright as he moves on from our immediate Y’ello family.�

General Manager, Business Intelligence and Strategy, Anthony Obi, will serve as the acting Chief Marketing OďŹƒcer for MTN Nigeria until a substantive appointment is made, the company said in a statement.

NNPC Retail, Others Win Awards

The Nigerian National Petroleum Corporation (NNPC Retail), KCB Bank Kenya and Ghana Union Assurance are some of the organisations that won the 2020 Africa Finance Awards. Other winners mentioned in a statement by the organisers included CreditVille, InďŹ nity Mortgage Bank Plc,Norremberger,HygeiaHMO,CrystalFinance,XymbolicDevelopment, Marvelous Mike Press, Landwey Investment, McDon Security and several others.

The 2020 edition of Africa Finance Awards, which was initially postponed due to the COVID 19 pandemic, has now been scheduled to hold in December 2020.

According to the Project Director, Africa Finance Awards, Mr. Abidemi Adesanya, “The award which is the benchmark for celebrating excellence, innovation and professionalism in Africa will honour some great brands that have been outstanding in their market segment in the course of the challenging.�

He said, “The highlights of this year’s award night include executive presentation session covering dierent sectors, red carpet, and other side attractions.â€?

SomeofthepastwinnersoftheawardwereKeystoneBankPlc,Vitafoam Nigeria Plc, La Casera, Powergas Africa, First Registrar, Pension Transitional Arrangement Directorate, Orange Insurance Brokers, Medallion Communications, International Health Management Services Limited, PAC Capital, Fast Credit, among several others.

X3M Ideas Wins Advertising Award

X3M Ideas Limited has won bronze at the Lisbon Advertising Festival for its International Women’s Day press campaign, ‘Make History Equal for Women.’ According to the organisers, X3M Ideas was the only African agency to win an award at the festival this year and was one of the 17 bronze winners in the international competition.

The agency also scored three ďŹ nalist entries which included Mum Hotline – its breathtaking integrated campaign for Mentally Aware Nigeria Initiative (MANI) and Forgiven – X3M’s widely acclaimed social media campaign for Easter, all selected by an executive jury consisting of high proďŹ le, global creative leaders such as David Kolbusz, the Chief Creative OďŹƒcer of Droga5.

The bronze winning work ‘Make History Equal for Women,’ was previously selected as one of the 62 ads from across the globe for the 2020 Great Ads for Good Exhibition; and has been celebrated lots of times in the advertising community.

Speaking on the award, Founder and CEO, X3M Ideas, Steve Babaeko said,“AsthePresidentoftheAssociationofAdvertisingAgenciesofNigeria, its part of our agenda to keep putting Nigeria’s advertising on the global stage. I am glad we won this award as this is one step in the right direction. “The Make History Equal ForWomen piece was one created with a deep sense of respect for women and we’re glad it is getting the recognition it deserves.We’realsogratefultothejuryandourcolleaguesintheadvertising industry, across the globe, for always supporting our work.

“We celebrate our customers across Africa. You are the most important to the bank.

We thank you for your loyalty to Ecobank, the Pan Africa Bank�

MD, Ecobank Nigeria,

Continued on page 24

Patrick Akinwuntan

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BUSINESSWORLD EQUITIES INVESTORS GAIN N778BN DESPITE PROFIT TAKING Academy Press Plc and Conoil Plc went down by 6.9 per cent and 5.5 per cent, just as Law Union & Rock Insurance Plc, Jaiz Bank Plc and Chams Plc shed 5.1 per cent, 4.8 per cent and 4.7 per cent in that order.

The Chief Executive Officer of the NSE, Mr. Oscar Onyema, last week identified the Central Bank of Nigeria’s (CBN) restriction of domestic investors from participating in its open market operations (OMO) as well as the interest rate cut as policies that have continued to buoy the stock market performance.

Onyema, who said this during a forum in Lagos, pointed out that investors are always in search of higher returns on investments, saying the central bank’s policies have made the stock market attractive to investors.

Onyema explained that the Nigerian economy as well as its financial market, like every other economy in the world had been greatly impacted by Covid -19 and the associated economic challenges.

Owing to this, the market has recorded a lot of volatility, similar to other markets, since March when COVID-19 actually hit Nigeria.

PWC PREDICTS 30% UNEMPLOYMENT RATE FOR NIGERIA BY Q4

forms that promote industrialisation and the growth of MSMEs in reducing unemployment. “Industrialisation and the entrepreneurial drive are crucial to solving the unemployment crisis in Nigeria; and again, both factors are preconditioned on the performance of the economy and government’s willingness to ease the process of doing business. “Finally, as a recommendation, improving the skills of Nigeria Labour Force can reduce the unemployment rate. This also depends on the educational institutions in Nigeria and the quality of the curriculum, especially in the light of STEM (Science, Technology, Engineering and Mathematics) and the fourth industrial revolution.�

NEWS

Transcorp Hotels Shops for N10bn to Enhance Operations Goddy Egene Transcorp Hotels Plc has started shopping for N9.999 billion from existing shareholders via a rights issue of about 2.659 billion ordinary shares of 50 Kobo each at N3.76 per share.

The rights issue is being made on the basis of seven new shares for every 20 shares held as at 13 July 2020. Shareholders of the company had last June approved the right issue at an extra-ordinary general meeting (EGM) in Lagos, while United Capital Securities Limited last July formally applied for the rights issue.

Speaking at the EGM, the Chairman of Transcorp Hotels Plc, Mr. Emmanuel Nnorom said: ‘�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 EGM 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 our oars but working round the clock to innovate new products and services to further delight our guests, notable of such is the

Obinna Chima

Capital Market Editor

Goddy Egene

Comms/e-Business Editor

Emma Okonji

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

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

Nume Ekeghe (Money Market) Nosa Alekhuogie (ICT) Peter Uzoho (Energy)

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, 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.�

The management of Transcorp Hotels Plc recently announced that it would be taking steps to ensure business continuity due to losses recorded a result of COVID-19 pandemic.

To this end, the hotelier said

it would diversifying its portfolio and reducing its workforce as part of its cost management initiatives. “We activated various cost-saving initiatives such as renegotiations of service contracts and restructuring of our loans‌ Despite undertaking these, it has become apparent that more fundamental changes need to be made for the business to survive,â€? Olusola said.

CAPACITYBUILDINGFORUM

L-R: Director, Strategy and Business Development, Green Eagles Agribusiness Solutions Ltd, Bola Adetayo; Chief Executive Officer,Taiwo Oluwadahunsola; Director,Agribusiness,LagosStateMinistryofCommerceandCooperatives,OsiefaAkinbayo,andManagingDirector,GreenEaglesAgribusinessSolutions Ltd,TasalaOsinowo,atthesymposiumorganisedforcooperativeinLagosbyGreenEaglesAgribusinessSolutions,heldinLagos...recently ETOP UKUTT

H. Pierson, XPLANE USA Announce Strategy Consulting Partnership H. Pierson Associates Limited and XPLANE Consulting at the weekend announced that they have entered into a strategic partnership.

The arrangement, according to a statement would see both firms combine H. Pierson’s industry-leading management consulting services with XPLANE’s world-class design-led approach to strategy development and activation.

The partnership is focused on supporting companies in Africa and select emerging market institutions. “With uncertainty, technology

and innovation playing an increasingly critical role in every aspect of business especially with the COVID pandemic, organisations across the continent are recognising that they need to more than ever before, anticipate disruptions and respond quicker to market dynamics in articulating and executing their strategies,� the statement added.

It described the H. PiersonXPLANE partnership as a powerful combination. “XPLANE’s diverse global team based out of Portland Oregon, USA, combines its strategy expertise as a Fortune-500-focused

management consulting firm, with the creative power of a design studio. “This derives from its renowned trademark as a ‘Visual Thinking Company.’ Its unique approach combines hands-on visual thinking, engaging workshops, and collaborative co-creation with stakeholders. “This is complementary to the H. Pierson team’s agile approach to focused strategy execution monitoring and evaluation, which bridges the gaps between strategy development and execution, and uniquely assures fast strategy adoption, institutionalisation and impact optimisation,� the

statement added.

Speaking on the partnership, the Executive Vice Chairman/Founder Mrs. Eileen Shaiyen, expressed delight about the partnership, saying she was optimistic that it would deliver very superior solutions to clients across Africa and select emerging markets.

While speaking on the partnership, the CEO of XPLANE, Aric Wood, said both firms were very aligned in the type of work they do. Wood added: “We are thrilled to partner with one of the continent’s leading firms, H. Pierson, to support their clients’ efforts to accelerate positive change.�

H. Pierson is a boutique management consulting firm that for over 30 years has continued to provide institutions in Africa with uncommon value-adding solutions in the areas of strategy, human resource management, learning and risk management across several sectors. On the other hand, XPLANE Consulting is one of the foremost global design consultancies that combine a unique approach of hands-on visual thinking, co-creation, and people-centred design with management consulting expertise to drive organizational transformation and bring visions to life

Union Bank Secures $40m from IFC to Boost Trade Nume Ekeghe

Group Business Editor

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 sector and your approval today shows that you also share in this mindset. We will continue

Union Bank said it has received a $40 million facility from the International Finance Corporation (IFC), a member of the World Bank Group, to boost access to finance for local business, increase international trade and help protect the country’s economy from the impact of the COVID-19 pandemic.

The facility, under IFC’s Global Trade Finance Program (GTFP),

will support Union Bank to establish working partnership with nearly 300 major international banks within the GTFP network, thereby broadening access to finance and reducing cash collateral requirements for Nigerian businesses.

The facility will enable the continued flow of trade credit into the Nigerian market at a time when imports are critical, and the country’s exports can generate much-needed foreign

exchange. According to the terms of the agreement, the GTFP would offer confirming banks partial or full guarantees covering payment risk on Union Bank’s trade-related transactions. The guarantees are transaction-specific and may be demonstrated by a variety of underlying instruments including letters of credit, trade-related promissory notes, guarantees, bonds, and advance payment guarantees.

Commenting on the devel-

opment, the Chief Executive Officer of Union Bank, Mr. Emeka Emuwa, said: “Union Bank is pleased to join the IFC’s Global Trade Finance Program.

This is a significant achievement as we continue to expand our trade financing offerings to our corporate customers. “Even in these peculiar times, we remain focused on contributing to economic growth by developing tailored solutions that help our customers harness

the teeming opportunities that still exist in the Nigerian market.�

On her part, IFC’s Country Manager for Nigeria, Ms Eme Essien Lore said: “Keeping trade moving is essential to growth and job creation, especially during the challenging economic times we are living through today. “We welcome Union Bank to IFC’s Global Trade Finance Program and value a partnership that will make a positive impact on Nigeria’s economy.�

‘Post-harvest Management, Key to Supporting Economic Growth’ Hammed Shittu in Ilorin The Chairman, House of Representatives Committee on National Planning and Economic Development, Hon. Abdulganiyu Saka Cook Olododo, has stressed the importance of effective postharvest management and value addition in Nigeria’s agricultural sector. Olododo, who represent

Ilorin East/Ilorin South Federal constituency of the Kwara State at the National Assembly stated this in Ilorin recently, during the opening ceremony of the second batch of youth training on pilot post-seasonal intervention for the people of the constituency.

According to him, “If the stakeholders can adapt to this way, there will be a greater return

in agriculture and would have a direct bearing on the economic to the country.�

He added: “One of the failures of agricultural policies for addressing developmental challenge in developing countries particularly Nigeria is the lopsidedness of concentrating efforts on production at the expenses of postharvest activities. “Yet, it is agricultural

activities such as storage and small scale processing after harvest that involves massive human engagement which creates more small scale and family based businesses. “Therefore, if agriculture is to be used for the development of the state, effective postharvest management and value addition must be put in place to complement the agricultural production

activities.�

Olododo who was represented at the event by Hon. Sahaad Babatunde stated further that the post-harvest training being organised for 40 youths in the federal constituency was meant to increase food production and to empower farmers with skills on the modern way of drying agricultural produce.

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MONDAY INTERVIEW

Czartoryski:Why Mutual Funds Investment is More Rewarding The Head of Research at Coronation Asset Management, Mr. Guy Czartoryski, in this interview speaks about the benefits of investing in mutual funds. Obinna Chima provides the excerpts: You recently released a report on the Nigerian fund management market, can you highlight some of the major ďŹ ndings?

We have been looking at the way in which Nigerians save, and this is changing profoundly. One change is that people are turning away from banks and investing in mutual funds instead. Banks used to be the default destination for savings but this is no longer the case. There are a lot of reasons for this. One is that risk-free rates, or the rates available on Nigerian Treasury Bills have fallen sharply over the past twelve months, which is one reason why banks are not offering attractive rates on savings deposits. Another reason is that banks themselves are subject to regulations that make them cautious about taking deposits if they cannot lend them on to clients, and they are also subject to a high cash reserve ratio. And there are deeper causes of the shift towards investing in mutual funds. After all, the rapid growth in mutual funds began some years ago, before treasury bill rates crashed and before the stringent loan-to-deposit ratio and cash reserve ratios were imposed. There is a cultural shift going on. Savers understand that a bank offers a guaranteed deposit but the bank also earns a spread on that deposit. By contrast, a mutual fund is required to share all its economics with its fund holders, less the fee which the fund manager charges. So the economic structure of a mutual fund has some advantages over bank deposits. People who are making long-term savings towards their retirement appreciate the difference. Another reason is fintech. Banks are traditionally associated with impressive headquarter buildings, numerous branches and paperwork, with technology being largely out of sight. They are in the process of moving over to tech-friendly platforms but fintech companies are already in the lead. Fintech appeals to a generation of bank customers and savers who expect to set up and have access accounts on their mobile phones. And they expect real-time information, engage in forums and exchange information on services and investments. Some fintech companies have proved themselves very successful at gathering savings, which creates demand for fund management services.

So, we are looking at extraordinary growth in mutual funds. The total assets under management of Nigeria’s mutual funds over the years 2015 to 2019 rose by 305 per cent and more than doubled in inflation-adjusted terms. The value of Money Market Funds rose by 11 per cent and the value of Fixed Income Funds rose by 60 per cent during the first six months of this year, and this is during a recession. A deep-rooted change in the way Nigerians save money is underway.

Comparing the mutual fund market with the stock market or even the ďŹ xed income market, which of these will you advise investors to stake their money in today?

In the first nine months of the year the Nigerian Stock Exchange All-Share Index almost broke even, and with dividends the return was actually positive. However, over the past ten years the stock market has generally delivered disappointing returns and fixed income has done much better. One reason for that was that Nigerian Treasury Bills on average yielded about two and half per cent more than inflation over the period from 2010 to 2019. Now that era is over and it appears unlikely that treasury bills yields are going to rise to levels above inflation any time soon.

So, without a safe and guaranteed source of income from Treasury Bills, savers and investors are forced to take more risk than they did before. The four key elements in risk-taking are: accepting that risk exists; learning about the risks of investing; measuring risk; and diversifying. So, for example, Money Market funds involve very little risk, fixed income funds involve a little more risk, then come Balanced Funds and Equity Funds. So, the answer to the question is that risk management is key to making successful investments.

Different savers have different acceptance of risk, depending on the time horizon of their investments and their ultimate investment

Czartoryski

goals. At Coronation Asset Management we are fortunate to partner with Cardano, a leading risk management consultancy based in the Netherlands which advises European pension funds worth hundreds of billions of Euros.

They have been providing on-ground guidance to our investment managers and continue to give daily advice. Risk management techniques have become central to our investment process.

The key skills are performance attribution, scenario modelling, back-testing and, at the end of day, judgment based on experience. So the future will look very different from the past. In the past interest rates were so generous that there was little need for sophisticated risk management. In the future savers are going to take a mixture of asset classes based on their investment horizons and acceptance of risk – in fact they are already are doing this.

The advantage of Mutual Funds is that they cater very precisely to different risk appetites.

Savers can diversify their portfolios simply by holding a number of different types of fund. And the key thing is information, because investors need to keep abreast of their performance of their funds.

In terms of regulation, what do you think the SEC should do to encourage more participation in that segment of the market?

The Securities and Exchange Commission is laying the foundations for an expanding Mutual Fund sector by getting the ground rules in place. Last December we received the ‘Amendments to Rules on Collective Investment Schemes’ which form part of the SEC’s ‘New rules and amendments to the rules and regulations of the Commission’.

The total assets under management of Nigeria’s mutual funds over the years 2015 to 2019 rose by 305 per cent and more than doubled in inationadjusted terms

These were due to be implemented by the end of last month. The basic principles are that Mutual Funds must act in their fund holders’ best interests, avoid conflicts of interest and publish data accurately and regularly. You can look across at how the National Pension Commission (PenCom) built up the stature of the pensions funds over the past two decades and see something similar happening with the SEC and the Mutual Funds. The other key agency is the Fund Managers Association of Nigeria (FMAN) which provides for free, and online, unit price performance data on Mutual Funds going back several years. The standards of disclosure are rising and this going to build confidence in the Mutual Fund industry. At the same time Mutual Funds are growing much more quickly that anyone could have predicted a year ago, and with more money coming into the system there will be demand for more fund products. The total number of Mutual Funds is around 30 but we expect this to rise quite rapidly. So, we are looking forward to the emergence of a well-regulated and competitive industry with numerous fund providers and plenty of useful and comparable information.

fund should be extremely safe. And that is because as they are taking your money, they are investing it in treasury bills, commercial paper and other assets classes. There are also fixed income fund and equity risk.

What are the risks in mutual fund investment?

A lot of the time i get this question when presenting my research reports. People would always want to find out if we can guarantee their investments, but the answer is no. In investment, you are taking different levels of risks. So, let me take a step back: When a bank says it is going to guarantee your money, which is because there is an insurance scheme in place by the Nigeria Deposit Insurance Corporation (NDIC) to guarantee your money.

So, guarantee comes with a price. Now, when you go out of a bank deposit and move into a mutual fund, is that you are getting the best of returns. The structure of a mutual fund is completely different from the structure of a bank. So, in a mutual fund you are taking on risks. That is, you are swopping a guaranteed fund for not such a great return with the bank, to a better return, but with higher risks. That is what happens when you pull out from a bank deposit and go into mutual fund. So, there are degrees of risks, but a money market

What is your medium term projection for the mutual fund market?

All already noted, we do not see a return to yields on Nigerian Treasury Bills above the level of inflation any time soon. Our outlook for the rest of the year is for sustained low interest rates while going into next year it is possible that there will be gentle pressure on rates to rise. In other words, we do not think that the steep fall in interest rates over the past year will be matched by a steep rise, far from it.

The equity market had a steep fall after January and a steep rally from April this year. We think there remains value in selected stocks and we continue to discuss this topic in our Nigeria Weekly Update in which we publish a model equity portfoliio. In the long-term we think that there are a handful of stocks that provide investors with good equity returns that are likely to result in good investment returns and we set out this argument in our publication last July, Navigating the Capital Markets. There are always investment returns if you look hard enough and are patient.

In recent times, we have seen investors shift towards investing in dollar funds and the recent dollar restrictions further heightened the trend, what can you say about that?

Dollar funds provide quite a good returns.

Over the years, if you are investing in FGN securities, over a 10-year period, let’s 2010 to 2019, you got a dollar return of 5.8 per cent on average, which is a pretty excellent return. Today, along African countries, the yields are lot less. For example – Zambia, Angola, and some other countries. The forex restrictions are part of the necessary currency management regime of the Central Bank of Nigeria. If that was not the case, we would have had a lot of capital flight, which could be difficult to manage. However, we must understand that about 40 per cent of banks’ deposits in this country are in dollar. So, the restrictions are there for a purpose

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BUSINESSWORLD

ANALYSIS

Pathway to Poverty Reduction, Economic Recovery The effective implementation of the Nigerian Economic Sustainability can provide succour to vulnerable Nigerians and set small businesses and the economy on the path of recovery, writes James Emejo

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resident Muhammadu Buhari on assumption of ofďŹ ce for a second term made a solemn commitment to lift 100 million Nigerians out of poverty over the next decade.

According to the National Bureau of Statistics (NBS), more than 83 million Nigerians are currently living below the national poverty line.

The 2019 Poverty and Inequality in Nigeria report, published in May further indicated that the poverty rate in the country stood at 40.1 per cent.

Although the federal government had since mapped out policies and programmes to deliver on the president’s promises, the unfortunate outbreak and spread of the COVID-19 pandemic globally had constrained economic progress upon which results are predicated.

Notwithstanding, the MSMEs sector of the economy had enjoyed tremendous goodwill and support during the pandemic both from the public and private sectors.

This is because of their sheer potential to stimulate economic growth and development.

However, the COVID-19 had wreaked untold Katagum hardship on small businesses as a result of the knockdowns implemented by the government to landscape which contributes high percentage to curtail the spread of the pandemic across the country. employment and GDP. Several enterprises have had to shut down while The minister stated that the survival fund which many Nigerians lost their means of livelihood to targets MSMEs and self-employed individuals, is the pandemic. a conditional grant to support vulnerable MSMEs As a response, the federal government had in meeting their payroll obligations and safeguard intervened through the Central Bank of Nigeria jobs from the shock of the COVID-19 pandemic and (CBN) N100 billion targeted facility to offer initial seeks to salvage about 1.3 million jobs nationwide palliatives to households and businesses as well while targeting an average of 35,000 individuals as other measures involving credit forbearance. per state.

But the size of the vulnerable population meant On the hand, the GOS represents one of the a lot of Nigerians may not have qualified for or federal government‘s economic support measures had access to such palliatives. to assist micro and small businesses which are However, the President Muhammadu Buhari registered in the country to enable them minimise -led administration recently flagged-off the Survival the effects of the pandemic.

Fund and the guaranteed off-take scheme, both She added that the government will leverage targeted towards assisting Micro Small and Medium on the databases of micro and small enterprises Enterprises (MSMEs) to overcome the challenges in identifying those businesses that would qualify posed by the COVID-19 pandemic. under the programme adding that the scheme will Launched by the Minister of State for Industry, save about 300,000 jobs and 100,000 MSMEs by Trade and Investment, Mrs. Mariam Katagum, the guaranteeing off-take of priority products. interventions, altogether worth N75 billion form core She said:�It is to be noted that the two schemes are part of the N2.3 trillion Nigeria Economic Sustain- expected to be implemented over an initial period ability Plan (NESP) currently being implemented of three months in order to provide immediate by the present administration to help cushion the relief from the economic impact of the pandemic. impact of the pandemic with a view to boosting “Provision has been made for 45 per cent the economy by saving existing jobs and creating female-owned businesses and five per cent for new job opportunities. those with special needs.

The minister said while the survival fund will “As I said earlier, while we are commencing the gulp N60 billion, the guarantee offtake scheme will implementation of the survival fund immediately, the cost N15 billion adding that the schemes will be Guaranteed Off-take Scheme is still being reviewed implemented over an initial period of three months in to meet current realities especially with regards to order to provide immediate relief from the economic product selection.� impact of COVID-19.

She added that mechanisms were being put in The interventions are essentially palliatives in place for effective and efficient monitoring and the form of grants to help individuals and MSMEs evaluation of the implementation matrix. navigate through the turbulent times and may not She said:�As expressly directed by Mr. President, require payback mechanisms to the government. our selection process is going to be very transparent Katagum, however noted that while the survival and we will ensure very efficient and judicious use fund scheme is expected to commence immediately, of the funds and other resources allocated to the the GOS will follow as soon as proper modalities schemes. Moving forward, we plan to give periodic are put in place to meet current realities. updates to members of the press and civil society She said the interventions are expected to impact organizations, as the programme progresses.� about 1.7 million entities and individual beneficiaries The Minister of Industry, Trade and Investment, across the country. Katagum stressed that going Mr. Adeniyi Adebayo, had in August inaugurated by recent statistics released by Small and Medium a 10-man Steering Committee, chaired by Katagum Enterprises Development of Nigeria (SMEDAN) and to develop a workable template for the execution the National Bureau of Statistics (NBS), indicating of the programme. that over 95 per cent of the 41 million MSMEs in the Commenting via his verified twitter, Adebayo country are micro businesses, the government cannot said no doubt, if properly nurtured, both the MSME afford to neglect the huge segment of economic Survival Fund, Guaranteed Off-take Stimulus Scheme

Osinbajo and N100 billion MSME Investment Fund will indeed cushion the impact of COVID-19 as well as stimulate industrial activities and secure jobs.

He added that a well-structured MSMEs sub-sector will contribute significantly to the attainment of Buhari’s aspirations to lift 100 million people out of poverty over the next decade.

Also, Vice President Yemi Osinbajo, posited that MSMEs are the engine room of the Nigerian economy, stressing that the federal government remained deeply committed to creating a more business friendly environment for them to thrive.

According to the VP, the Guaranteed Off-take Scheme fund which is a payroll support scheme will provide N50,000 in monthly salaries to staff of qualifying businesses for three months.

On his part, the Director General/Chief Executive, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Dr. Dikko Umaru Radda further clarified that the payroll support was not a loan but a conditional grant to cushion the effect of the COVID-19 pandemic on MSMEs in the country.

He said 500,000 vulnerable MSMEs will be supported in meeting their payroll obligations of between N30, 000 to N50, 000 per employee to safeguard the jobs of a maximum of 10 employees over a three-month period.

Radda, who doubles as Chairman of the Publicity and Logistics sub Committee of the National Steering Committee of the Nigerian Economic Sustainability Plan (NESP) said:�I want to assure you SMEDAN will continue to support all entrepreneurs across Nigeria towards ensuring that we achieve the MSMEs sub-sector of our dream in the areas of job creation, wealth creation and poverty alleviation.

The SMEDAN boss said MSME Survival Fund was designed to cushion the effect of the pandemic on the most vulnerable MSMEs across Nigeria, targeting 1.7 million individuals and entities across Nigeria.

He said that in addition to registered businesses, survival fund will also cater to a second category of Nigerians, the Self-employed, including service providers in the transportation sector, particularly bus/taxi drivers, rideshare drivers, auto-mechanics, artisans among others.

According to him, the guaranteed off-take stimulus scheme will protect and sustain the income of vulnerable Micro and Small Enterprises from the economic disruptions of the COVID-19 pandemic through the implementation of various initiatives

aimed at boosting the production capacities of the small businesses as well as provision of grants.

He said the main objective of the scheme is to boost production capabilities of small businesses with the view to ensuring that they remained in business.

The MSME Survival Fund is a conditional grant to support vulnerable micro & small enterprises in meeting their payroll obligations & safeguard Jobs in the MSMEs sector. The scheme is estimated to save not less than 1.3 million jobs in Nigeria and specifically impact on 35,000 persons.

The Project Coordinator and Special Adviser to the President on MSMEs (Office of the Vice President), Mr. Tola Johnson, said among other things that the survival fund scheme will start with the payroll support initiative targeted at about 100 businesses and 500,000 individuals.

He said no fewer than 100,000 MSMEs affected by the pandemic will get the sum of N50, 000 each as grant while 250,000 businesses will also benefit from free registration by the Corporate Affairs Commission (CAC). Lamenting that several MSMEs are currently not registered, he said though the registration is free for businesses, the government will pay the commission half the actual price.

He also said the transport and assistance support component of the scheme will provide a one-off payment of N30, 000 grant to about 333,000 beneficiaries.

However, Katagum, while calling for adequate sensitisation of both schemes said:�Our indicator of success will be the number of Nigerians from all walks of life, regardless of who they are, where they come from and who are able to benefit from the scheme without having to know someone. “Our Committee is working round the clock to ensure that Nigerians benefit from each scheme seamlessly. These are the very ideals which Mr. President has emphasized as dear to his heart for the MSME space in particular and the country as a whole.�

She recently directed focal persons in all the states of the federation to intensify their sensitisation efforts for Nigerians to apply for the federal government’s palliative recently unveiled to cushion the impact of the COVID-19 pandemic on the country and insisted that all states needed to be equally represented in the scheme.

Farmers Back CBN’s Policy on Repatriation of Export Proceeds James Emejo and Folalumi Alaran in Abuja The Federation of Agricultural Commodity Associations of Nigeria (FACAN) said it is in total support of the Central Bank of Nigeria’s (CBN) position on repatriation of export proceeds to boost liquidity in the foreign exchange market.

It also called on the apex bank to further strengthen the policy

to allow exporters unfettered access to their, “hard-earned foreign exchange proceeds,� going forward.

Speaking at a media briefing, FACAN National President, Dr. Victor Iyama said, “some exporters have gone underground in order to stay afloat while some will not repatriate their forex earnings and some have resulted to smuggling�.

He added: “It is our considered view that any exporter who

refuses to comply on 100 per cent repatriation of export proceeds into the country should be treated as an economic saboteur and sanctioned accordingly as we in the league of exporters are ready to enforce it.�

He argued that allowing exporters unrestricted access to their export proceed will among other things lead to increased revenue to the country, reduce smuggling activities, improve forex

earnings, reduce corruption as well as improvement in the country’s balance of trade.

Iyama said: “Exporters source for their produce from local buying agents/aggregagtors/merchants at just a little margin below the international market price as an act of sacrifice. Yet, our exporters still buy from these agents/ aggregagtors/merchants at those prices just to remain in businesses and when the proceeds of export

are repatriated through commercial banks, exporters are forced to accept the repatriated proceeds at a predetermined bank rate of say N385 to $1, while the parallel market i.e. Bureau De Change sell the foreign exchange majorly sourced from the same CBN at N465, thereby shortchanging the exporters by a margin about N80.�

He said: “The nation’s economy is therefore being deprived of the much needed foreign exchange

as a result of this obnoxious armtwisting of all repatriated funds of the exporters, Nigerians in diaspora and foreign investors.�

According to him, FACAN which comprises of 55 registered commodity associations along the value chain had over the years contributed greatly to the economic growth of the country through the generation of forex to the economy from non-oil export exchange proceeds.

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NCDMB Organises Capacity Building Programme Peter Uzoho The Executive Secretary, Nigerian Content Development and Monitoring Board, (NCDMB), Mr. Simbi Wabote, has flagged off the training of 30 trainees for the maiden American Society for Non-Destructive Testing, (ASNT) Level III Training and Certification in Nigeria.

In a statement by the Corporate Communication arm of the NCDMB, Wabote was represented at the ceremony held in Port Harcourt, Rivers State recently, by the General Manager, Capacity Building Division of the Board, Dr. Ama Ikuru.

He disclosed that the training

was informed by the need to urgently address the existing critical gaps in the ASNT Level III professionals in-country, adding that the Board was committed to train and certify 100 Nigerians in that category.

Wabote hinted that Nigeria currently has just about 11 ASNT Level II inspectors, despite the fact that Non-Destructive Testing is a high value adding activity, with versatile applications in the oil and gas industry and its linkage sectors.

He said the intent of the training was to specifically address existing in-country gaps, reduce capital flight resulting from the engagement of expatriates for the provision of Non-Destructive

Testing, (NDT) and related professional services, and to also drive train-the –trainer strategy to create viable and robust pool of NDT professionals in-country.

Other objectives of the training, he also enumerated, were to enhance the professionalism and competitiveness of Nigerians in the provision of NDT and related services in the oil and gas industry and its linkage sectors; drive the domiciliation of NDT services in-country; increase local participation and retention of industry spends in the NDT value chain; and further the attainment of the goals and aspirations of the NOGICD Act of 2010 and the Board’s 10-Year Strategic Road Map.

IBPLC Donates Transformer to Ogun Community Raheem Akingbolu Determined to address the power supply challenge in Bara community in Obafemi Owode local government area in Ogun State, the International Breweries Plc has inaugurated an electrification project that included a 300KVA ONAN oil-immersed step-down transformer and 415 V overhead distribution line to the community. The rural electrification project which is expected to have a positive multiplier impact on the lives of more than 1,000 inhabitants of households in and around Bara, was declared ready for use during an inauguration

ceremony which also saw the donation of Covid-19 palliatives attended by government officials, traditional rulers, company executives, journalists, community leaders, and representatives.

The Legal and Corporate Affairs Director, International Breweries, Temitope Oguntokun, said the N12.4 million electrification project was yet another testament of the company’s commitment to an effective and efficient corporate social responsibility to boost the economic fortunes of Bara community and environs. “Our dream of a better world drives our vision to support communities in Nigeria through our

five CSR pillars of empowerment, education, health, infrastructural support and responsible drinking.

This dream led to the vision to support the Ogun State Government to provide this power intervention to Bara community and its environs. “With today’s project, we are also demonstrating our contributions to the United Nations Sustainable Development Goals (SDGs): Goal 7: Affordable and Clean Energy; Goal 11: Sustainable Cities and Communities; SGD 3 – Good health and well-being; SDG 9: Industry, innovation & infrastructure,� she said.

The NCDMB chief commended two companies charged with the responsibility to deliver the training, namely: Jimcol Resources Nigeria Limited and Inspection & Tests Nigeria Limited.

He stated that both companies are specialists with experience in the provision of NDT training and services, and members of the American Society for NonDestructive Testing (ASNT), which is a leading certifying entity in NDT profession globally.

Speaking earlier in his welcome address, the President of the Association of NonDestructive Testing Practitioners (ANTEP), Chief Rowland Nze, felicitated with Wabote on

his recent reappointment by President Muhammadu Buhari.

Nze commended the Board’s capacity building initiative, which he said, has changed the narrative of quality control processes in the oil and gas industry by assuring an advancing level of participation of Nigerians in QA/QC and NDT protocols of the industry.

The ANTEP president asserted that the Board through its partnership with the association had empowered the practice of NDT in the Nigerian oil and gas space, noting that some companies now have investments in both advanced equipment and human resources.

He added that local practi-

tioners had invested with the confidence that first consideration would be given the association for all NDT jobs in Nigeria.

In their comments, the Chief Executive of Jimcol Resources Nigeria Limited, Mr. Ndubuisi Chijioke and his counterpart in Inspection & Tests Nigeria Limited, Mr. Sam Azoka Onyechi, both expressed delight for the Board’s ambitious initiative to fill the skill gap in the NDT industry.

Both companies expressed excitement over the opportunity to work with NCDMB and ANTEP in the human capacity development project to train and qualify 30 Nigerian NDT personnel to ASNT Level III.

Public Complaints Commission Hails EEDC The Enugu Electricity Distribution Plc (EEDC) said it was recently commended for what it described as the consistent improvement in power supply and service quality to its customers.

According to a statement, the commendation was made by the Federal Commissioner, Public Complaints Commission (PCC), Enugu State, Chidi Ekwe, when he paid a courtesy visit to the Managing Director/ CEO, EEDC, Mr. Okey Nwosu, at the company’s head office in Enugu, recently.

The Federal Commissioner who was in company of other

top officials of the Commission, said the visit was to acquaint EEDC with the workings of the Public Complaints Commission and also to synergise and collaborate with a view to achieve more towards better service delivery to Enugu State in particular, and the country at large.

He further appreciated EEDC’s Customer Service Team, who usually interface with the Commission, for the timely response to enquiries on any matter pending before it against EEDC, as well as their prompt response to invitation for further deliberation on such

matters.

Specific area of interest expressed by Ekwe was EEDC’s commitment towards ensuring availability of power supply to residential customers in the hit of the COVID-19 pandemic, when most people were observing the sit-at-home directive of the federal government, according to the statement. “We want to join your numerous customers scattered all over, of which we all are part of, to appreciate you for the improved and regular electricity supply being experienced and enjoyed at present. We urge you to keep it up.�

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ASHON, Stakeholders Move to Resolve Irregular Accounts Goddy Egene The Association of Securities Dealing Houses of Nigeria (ASHON) has said it is working closely with the Securities and Exchange Commission (SEC), the Nigerian Stock Exchange (NSE) and other key stakeholders to address the issue of irregular accounts of investors.

The move, according to ASHON is part of its efforts to ensure transparent transaction on the exchange, enhance investor protection mechanism

and uphold market integrity.

Irregular accounts are those that fall below minimum standard of disclosure for Know Your Client (KYC) and capable of distorting transparent transaction processes.

Chairman of ASHON, Chief Onyenwechukwu Ezeagu, explained that the association had begun collaboration with all stakeholders, including the Central Securities Clearing System Plc (CSCS), registrars and shareholders to ensure that the irregular accounts are

updated within the time frame set by SEC. Ezeagu urged the shareholders to liaise with their stockbrokers to provide necessary information that will enhance the conduct of their identity test. He stated that the outstanding accounts would have been resolved but for COVID-19 pandemic and its associated challenges.

He said: “The accounts which our members are currently trading on are KYC- compliant.

The issue is the old accounts.

They must be updated. This is

part of our due diligence as a global market. “We would have resolved this but for COVID-19 pandemic that has obstructed many activities globally. The situation in the market is also a factor. The case was made worse by the lockdown, social distancing, and restriction of movement. “The good thing is that we are collaborating with all stakeholders. We urge all shareholders to update their records with stockbrokers without further delay. After this exercise, account

of a shareholder that is not updated shall not be traded on.�

Only recently, ASHON announced its efforts towards expanding income streams of its members by initiating moves to enable them trade on other securities markets such as FMDQ, NASD OTC Plc, AFEX Commodities Exchange and Lagos Commodities and Futures Exchange (LCFE). “In our resolve to create new streams of income for our members, we intensified efforts through the FMDQ Committee

to establish a trading relationship with the FMDQ. The committee has submitted its final report and we are at the last stage of onboarding our members to trade on the FMDQ platform,�

Ezeagu had said.

The move was expected to reverse the current situation whereby stockbrokers are not so active in trading fixed income securities on the FMDQ , whereas the financial instrument was the hub of transaction on the NSE in the past.

EKEDC Donates Relief Items to Two Orphanages The Eko Electricity Distribution Company (EKEDC), in celebrating the 2020 Customer Service Week has donated gifts and foodstuff to two orphanages.

They are: The Arrow of God Orphanage, Ajah and The Life Changers Orphanage Home, Festac Town, Lagos.

The Disco disclosed this in a statement signed by the Company’s General Manager, Corporate Communications, Godwin Idemudia.

He disclosed that the donation was in line with the company’s corporate philanthropic ideals.

Idemudia said: “Customer Service is a fulcrum of our business as we are the interface between the customers and the electricity supply industry. “As a company that prides itself for customer centricity, we place a premium on quality of service we render to our customers as we aim for maximum customer satisfaction. “The occasion of Customer Service week offers us the

opportunity to celebrate our customers for their continuous support and understanding as well as our staff and in particular our customer service team for their diligence in attending to the needs of our customers. “To us at Eko Disco, our customers are part and parcel of our own Dream Team.�

The orphanage visit team was led by the company’s Chief Finance Officer, Joseph Esenwa; Assistant General Manager, Corporate Communications, Babatunde Lasaki, and Head of Department, Customer Service, Iyiola Ezichi, as well as other members of the customer service team.

The gift items were received by the orphanages who appreciated the kind gesture of the company and commended the team for their thoughtfulness. They called on other corporate organisations to emulate EKEDC by engaging in corporate philanthropy to support the vulnerable and less-privileged in the society.

Book on Financial Literacy Launched Oluchi Chibuzor A digital entrepreneur, Niyi Soyinka has launched a book that is aimed at encouraging financial literacy among youths in the country.

Speaking on the new book in Lagos recently, the author and the lead strategist, BIGshot Consulting Limited, Niyi Soyinka, said there was a need to improve financial literacy level among the youths considering the rate of unemployment among its active population. He said whatever policy any government is trying to implement must leverage on the financial acumen of its citizens to effectively improve viable economic activities that would lead to increase in job creation.

He, however, described financial literacy as a tool in the face of new normal that would not just strengthen an individual, but would help them make right decisions about their finances.

Soyinka, commenting further about his new book titled, “How to Earn a Fee From What You Do For Free,� said, “having experienced the paradox of being talented but broke, was determined to help young people discover, develop, deploy and duplicate their potentials in a way that serves humanity and earns them commercial value. “The book is for anyone who wants to master the business of their skills, ideas and talents or

professionals who feel stuck in their jobs hoping for the day they will escape corporate slavery.

Lessons in this stunning book will show you how to engage your passion and earn from them while on your job.�

In the last 10 years, Soyinka who has facilitated training sessions for several public and private institutions including the Federal Capital Development Agency (FCDA), Federal Mortgage Bank of Nigeria (FMBN) and Coca-Cola Nigeria, with hundreds of speaking engagements every year, according to him tours campuses across Nigeria, helping young people discover themselves, find their purpose and live their dreams to the fullest. “As a nation our unemployment rate at is high level, this can be changed if our youths understand the simple principles of turning their passion to money ventures, “ he said.

His quest for financial literacy among youths had seen him work with ENACTUS Ahmadu Bello University (ABU) Zaria, Fate Foundation’s aspiring entrepreneurs’ digital programme in partnership with Facebook Nigeria and Click-On Kaduna—a joint initiative of the Kaduna State Government, the World Bank Group and the Rockefeller Foundation to promote digital skills among young people.

CSR-IN-ACTION

L-R: Customer Service District Supervisor for Ibeju, Eko Electricity Distribution Company (EKEDC), Haleemah Yinusa, Chief Finance Officer, Joseph Esenwa, and Public Relations Officer Ifeoma Okorugbo, during the organisation’s visit to Arrow of God Orphanage, Ajah, Lagos‌recently

Minister Seeks Implementation of New Seed Act to Boost Food Security James Emejo and Folalumi Alaran in Abuja The Minister of Agriculture and Rural Development, Alhaji Sabo Nanono has directed the National Agricultural Seeds Council (NASC) to ensure that the laws governing seed administration and regulation are effectively implemented going forward.

He said it was the desire of the federal government to see that the council implement to the letter, contents of the new Seed Act 2019, which seeks among other things to boost regulation in the seeds industry and curb the menace of seed counterfeiting which had threatened food security.

The regulation further stipulates stiff penalties for infractions.

Speaking over the weekend at the 2020 Green Field Day with the theme: “Using Quality Seeds

to Mitigate COVID-19,� which was organised by the NASC, the minister said the regulation seeks to ensure that the seed sector functions effectively so that farmers have access to quality seeds and better return on investment.

Represented by Director, Federal Department of Agriculture, Mrs. Kareema Babangida, Nanono further urged farmers to always plant improved high quality seeds that will increase their productivity as well as encourage the seed entrepreneurs to continuously dedicate time and finance to research and development of new innovations.

The minister stressed that quality improved seeds were essential in the drive to revitalise the economy, adding that it is therefore necessary to make quality inputs available, scale up production of high performing

crop varieties as well as improve on extension delivery services.

He said: “The Green Field Day demonstrations is a testimony to the incredible efforts on the part of NASC and the seed entrepreneurs in ensuring availability and accessibility of multiple options of high quality improved seeds for farmers to choose from.�

He said one of such technologies is the Bt Cotton which according to him, is President Muhammadu Buhari’s priority area for economic growth through the revitalisation of the textile and garment industry.

However, Director General of the council, Dr. Philip Ojo revealed that discussion was ongoing with the Central Bank of Nigeria (CBN) and other stakeholders to facilitate the successful commencement of the Anchor Borrower Programme on wheat production projects for one million farmers.

He said the council in collaboration with security agencies had carried out sting operations in the Federal Capital Territory (FCT) where about 10 seed outlets were visited and raided adding that 360.88 kilogrammes of fake seeds were confiscated and set alight.

Ojo, further called for expedition of action on the passage of the bill for an Act to provide for the Protection of Plant Varieties (PVP), adding that supporting the development of new plant varieties is an essential response to achieving food security and agricultural sustainability in the context of climate change and agribusiness.

According to him, the development and adoption of improved seeds is instrumental to making food available and affordable for all.

NIPOST Assures Customers of Tech Innovation in Postal Services Emma Okonji The Nigeria Postal Service (NIPOST) has said it will continue to leverage technological innovation to achieve more efficiency in service delivery to its customers.

The General Manager, Lagos Zone of NIPOST, Dr. Mike Umo, who stated this during the zone’s commemoration of the 2020 World Post Day, said NIPOST deployed technology in various areas of its business.

According to him, “NIPOST has put in place International Postal

System (IPS) and integrated Postal Management System (lPMS) in order to improve access to postal services within and outside the country. Since the emergence of information and communication technology, we have continued to explore how best to utilise our network by incorporating new technologies to drive the post to sustainable growth and improving our quality of service.�

Umo, noted that while the emergence of electronic communications had caused a dramatic decrease in the number of letters sent, more parcels were being delivered daily,

due to the double-digit growth of e-commerce across NIPOST services. He explained that the importance of postal services in the socio-economic development cannot be over-emphasised in Nigeria, adding that it represents a unique asset and a true instrument for economic growth.

While highlighting different areas the NIPOST services have been impacting the people and the economy, Umo said Micro, Small and Medium Enterprises (MSME) in the country have been leveraging on NIPOST’s competitive rates to deliver goods

and services to their customers all over the world. “Our e-commerce and haulage/ logistics ventures are gradually taking centre stage in business networking. “Most importantly, we are supporting sustainable development goals by providing rural banking to the unbanked communities. Our network is an advantage to create financial services such as Post Cash and other international fund transfers to these areas. “Our counters are fully automated with improved lCT facilities for customers to transact business easily,� Umo said.

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Onne Customs Rakes in N13.1bn, Highest in 37 Years Eromosele Abiodun The Nigeria Customs Service (NSC), Area ll Command, Onne Port, Rivers State has announced that it generated a total of N13.106 billion for the month of September 2020.

The command in a statement said the revenue was the first month scorecard of the Customs Area Controller of Area II Command, Onne Port, Comptroller Auwal Mohammed, who resumed duty on the September, 01, 2020; and the highest monthly revenue generated in Area II Command since its creation over 37 years ago. Commenting on the achievement, Comptroller Auwal Mohammed said, “This feat is a combination of efforts by my very diligent officers and men who are unrelenting in the discharge of their duties. �The revenue outcome is also a confirmation of my observation on my first day in office here that I am taking over a very functional command with systems for revenue generation, trade facilitation and suppression of smuggling.�

He added, �In my interactions with officers and port users, I harped on the need for compliance and reiterated my insistence on due process at all times by everyone interfacing with customs in the course of trade. “I am whole heatedly committed to achieving maximum collection of all revenue due to government through Customs duties in Onne Port and prevent any form of leakages. “Where shortfalls are detected, I pursue uncompromising recovery through demand notice (DN) to prevent revenue loss. “While I consider our over N13 billion revenue generated as a

laudable feat, it doesn’t call for complacency on our part. It is only a reminder to do more in our national interest to support the country’s economic well being.�

In the same vein, he said the Command succeeded in processing a total of 18,085.96 Metric Tonnes (MT) of export activities with Free On-Board (FOB) value of $6,441,850.67 and N10,595,944.43. “In anti-smuggling activities, the Command recorded two (2) seizures of 13 containers comprising 400 bundles of used tyres, 100 pieces of motor radiators, 264 logs of raw hard wood, 100 pieces of car fans and 4 units of bed trailer trucks with a total Duty Paid Value of N99, 917,043.80 in September 2010. �We will continue to make this command a no go area for perpetrators of smuggling, concealments, duty evasion and any form of illegality by seizing those illegally imported and prohibited goods, arresting perpetrators and getting time prosecute in accordance with the Customs and Excise Management Act (CEMA), �Mohammed said. “Suspects whose offences fall under the purview of other government regulatory and enforcement agencies will be duly handed over for further investigations and possible prosecution, �he added.

In the area of building robust synergy between the Command and other government agencies, Mohammed said he has within one month has visited and interacted with the Nigeria Ports Authority (NPA), Onne; Nigerian Navy; Commissioner of Police, Rivers State Command; Commissioner of Police, Eastern Ports Command; Controller Nigeria Immigration Service.

WACT Unveils $15m Additional Equipment for Onne Port Eromosele Abiodun The West Africa Container Terminal (WACT) has inaugurated two new Mobile Harbor Cranes (MHCs) and two Reach Stackers, to boost efficiency and cargo handling operation at the Onne Port, Rivers State.

The company in a statement said the additional container handling equipment would further improve the already quick turnaround time for vessels calling WACT. It added the two new Mobile Harbor Cranes and handling equipment were valued at $15 million.

With the acquisition of the new cranes, WACT said it now boasts of four MHCs deployed into its operations, with one more planned to arrive in 2021.

Managing Director of WACT, Mr. Aamir Mirza in the statement said the latest set of equipment were acquired as part of the organisation’s $100 million investment announced in 2019 to significantly increase the terminal capacity. “Our equipment and infrastructure upgrade are the key enablers

for WACT to better serve her customers. Our cranes shall offer improved and higher productivity, which means shorter port stay of vessels, resulting in saving to our liner customers. We are now able to handle the next generation and larger gearless vessels. “This investment will include the deployment of reefer racks having 600+ plugs, a new workshop, larger powerhouse and 20 Rubber Tyred Gantry (RTG) cranes. All of this will result in more efficient operations and shall enable customers to take delivery of their cargo much earlier,� he said.

Mirza said with the investment, WACT has established itself as the largest and most efficient container terminal in East Nigeria.

He said the company has created 2,950 direct and indirect job opportunities in the country. “Our vision is to make WACT the gateway to East Nigeria and beyond. We believe this vision can be achieved much earlier if the government can support us by addressing some fundamental challenges like security risk because of piracy, clearance of overtime containers, improving

roads and related infrastructure that connect Onne Port to the rest of Nigeria,� he said.

The Comptroller-General of Nigeria Customs Service (NCS), Col. Hameed Ali (rtd), was quoted to have said during the commissioning of the equipment that the deployment of the new Mobile Harbor Cranes and Reach Stackers by WACT would improve efficiency and aid quick release of cargo at the port, leading to increased revenue for the government.

Represented by the Assistant Comptroller General in charge of Zone C, ACG Elton Edorhe he said, “Modern Customs is concerned about trade facilitation around the world. The deployment of these cranes will mean efficiency. More containers will be brought in and handled proficiently and that will increase revenue generation to the Federal Government coffers through Customs. “Trade facilitation is a process that is all encompassing. It is not only for one organisation. Every stakeholder must be involved.

So, we are happy that WACT is doing their part by investing

more and commissioning these new equipment.�

The Managing Director of Nigerian Ports Authority (NPA), Hadiza Bala Usman said equipment would aid efficiency, improve productivity and ensure quick turnaround of vessels at the port.

On his part, the General Manager Operations and Technical, Oil and Gas Free Zones Authority (OGFZA), Mr. Ajayi Adekunle, who lauded the management of WACT, said despite the setback caused by the COVID-19 pandemic to businesses, WACT has remained committed to the realization of the objectives of the free zone. “In the last couple of years, WACT has demonstrated that our corporate objective of taking investments in the free zone to the next level is being achieved.

The acquisition of these additional Mobile Harbor Cranes and Reach Stackers is remarkable given the serious setback that the coronavirus has brought to businesses in the free zone and the country,�

Adekunle, who represented the Managing Director of OGFZA at the crane commissioning ceremony, said.

MOD Group Appoints Oyebanjo COO Oluchi Chibuzor MOD Group, a leading education service provider has announced the appointment of Faruk Oyebanjo, as its new Chief Operating Officer (COO).

According to a statement made available by the firm in Lagos, Oyebanjo as the first COO of MOD Group would play an instrumental role in helping to guide the group’s global expansion as it widens its leadership position in the International Education industry in Sub-Saharan Africa and beyond.

The statement added that his additional responsibilities includes operationalising vision and strategy, managing capital investment across the businesses, as well as shaping business performance and growth.

It read: “Faruk brings more than 10 years of professional experience across roles in advertising and marketing communications, FMCG, information technology and international education. “Prior to moving up to management level at MOD Group as Group Operations Manager, He served across other arms of our business as interim test center administrator of MOD IELTS, corporate communications manager at MOD IELTS, brand project manager at MOD Education and Communications Manager at Westerfield College.�

He started his career in adver-

tising and marketing communications at Cross Marketing Agency having worked on nationwide BTL and ATL campaigns for several brands under the Diageo Plc Umbrella (Guinness Nigeria, Harp Larger, Red Label, Smirnoff Ice, Baileys, etc.) and Procter & Gamble (Vicks, Ariel, Oral B, Duracell, Safeguard et al).

He left the agency for the FMCG Industry as National Sales Manager for Maya Premium Vodka where he grew the wholesaler base from 47 to over 220 within the first six months.

He holds an MBA from UNILAG MBA School and also a graduate of the School of Communication, Lagos State University.

He received the Excellence Award by Nigerian Top Executives in the Advertising, Marketing and PR Industry for 2015 and the Best Use of Social Media Award at the 2012 Gidi Youth Awards among several other awards.

MOD Group is one of the largest integrated companies in International Education with operations in the United Kingdom, Ghana and Nigeria.

It serves as the holding company which comprises of MOD Education Nigeria & Ghana; MODE Education UK Limited (Student recruitment companies); MOD IELTS Nigeria (Accredited IELTS Testing Center); among others.

Covid-19: Global Insurers to Pay Estimated $110bn Claims in 2020 Ebere Nwoji A recent study on the impact of the Covid-19 on risk exposure of global insurance firms has stated that the outbreak of the virus will compel global insurers to pay $110 billion claims this year.

The report by Allianz Global Corporate and Specialty (AGCS), a business unit of Allianz Group, discovered that the Covid-19 pandemic, has reduced risk in some areas while, at the same time, changing and heightening it in others.

The Chief Claims officer of AGCS, Thomas Sepp, said the wider changes in society and industry brought about and accelerated by the pandemic were likely to have a long-term impact

on claims patterns and loss trends in the corporate insurance sector. “The growing reliance on technology, shift to remote working, reduction in air travel, expansion of green energy and infrastructure and a rethinking of global supply chains will all shape future loss trends for companies and their insurers. “Estimates vary, but the insurance industry is currently expected to pay claims related to the pandemic of as much as $110bn in 2020 according to Lloyd’s.�

Sepp, said AGCS alone had reserved about â‚Ź488 million (US$571 million) for expected Covid-19 related claims, especially for the cancellation of live events and the disruption of movie or film

productions in the entertainment industry. “We have seen claims in some lines of business, such as entertainment insurance, surge during Covid-19, while traditional property and liability claims have been subdued during lockdown periods,� said AGCS’ Global Head of Claims, Philipp Cremer.

He, however, said there was still the potential for claims to occur as factories and businesses restart after periods of hibernation, and given the longer development patterns for third-party claims in long-tail lines.

Analysing the various sectors’ experience, Cremer, said claims’ notifications from motor accidents, slips and falls or workplace

injuries slowed as more people stayed at home.

He added that with the temporary closure of many shops, airports and businesses during lockdowns across the world, AGCS also noticed a positive impact on US claims settlement from the suspension of courts and trials. “Some claimants and plaintiffs have been more open to negotiating settlements out of court rather than opting to wait a long time until their case is admitted,� a trend also highlighted in another recent AGCS publication on liability loss trends.

In general, he said claims activity was likely to pick up again following resumption of economic activity.

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Nwachukwu: We are Focused on Empowering Communities Nena Nwachukwu is the Nigeria Regional Manager at Paxful, a peer-to-peer cryptocurrency marketplace. She is overseeing the company’s localisation processes, new partnerships and recruitment efforts, while facilitating the business- and revenue growth in the region. In this interview, she speaks about its expansion plan. Dike Onwuamaeze brings the excerpts: for both teachers and students to do their jobs well and excel in their academics respectively.

That is why the passing rates for our students are high.

Paxful expanded its operations in the Nigerian market recently. What informed the decision?

The main features of our expansion in Nigeria include customised products and services for the market, closer connection to our customers, and increased brand awareness, which we plan to drive through corporate social responsibility initiatives. For example, build for people and stay connected to the streets is part of our core values at Paxful, which partly informed our decision to boost our operations in the Nigerian market.

We are also doing this in response to customers’ requests. We received several recommendations from our customers to bring Paxful closer to the Nigerian community. Being a peer-to-peer business, intel from the street is a priority to us, so our decision to expand operations in Nigeria enables us to listen to our users more carefully and to continually ensure that their concerns are satisfactorily addressed.

You were the premium sponsor of the BLOCKDeFi 2020 conference. Why did you decide to be involved in the conference?

We decided to get involved in the conference because the organisers, Blockchain Nigeria User Group, are passionate about driving Crypto adoption in Africa, which is aligned with our educational goals in Nigeria. The BLOCKDeFi 2020 conference was a great opportunity to not only achieve this, but show our commitment to the growth of the Blockchain community. The BLOCKDeFi 2020 was super enlightening as attendees had free access to experts and thought leaders delivering insights on DeFi products, upcoming policies by regulators, Crypto trading techniques, and more. We would want the mass audience to learn how these discourses will help shape the role of Africa in the future of finance.It is worthy of note that the organisers did an excellent job with the careful selection of expert-level speakers on the subject matter.

Of special note is Dr Oby Ezekwesili who delivered the lead keynote on Unpacking Blockchain and the potentials of alternative, open trustless finance. As a Senior Adviser of Africa Economic Development Policy, it was refreshing to see that she recognises the importance of Blockchain.

How secure is your platform?

Paxful is one of the safest P2P crypto platforms and we work hard on keeping it this way. At Paxful, compliance and security are top-of-mind as we work to keep the marketplace free from fraud and scammers. In March 2020 we partnered with Chainalysis to protect our users and stress the importance of regulation and compliance on P2P marketplaces like ours. Chainalysis is one of the industry’s most prominent crypto surveillance developers and regular partner of exchanges, government and private companies. It had never previously signed off a peer-to-peer client because these firms were seen as too risky to conduct business with. Paxful became the first P2P crypto marketplace they partnered with. Our internal teams work intensely to keep our marketplace safe and secure. We also try to educate our customers via webinars, videos, warnings on our platform and through our blog so they can better protect themselves.

Nwachukwu Paxful also recently announced its expansion beyond bitcoin with the addition of tether to its platform. Kindly tell us more about this?

Tether, also called USDT is a type of Cryptocurrency classified as a stablecoin. Stablecoin as the name implies keeps Cryptocurrency stable in its fiat value. With this product, we have introduced the first Cryptocurrency after Bitcoin to our platform. During the Covid-19 pandemic, we closely observed the financial downturn of most economies. Being a company that builds for people, we quickly realised it was crucial we created a product that helps our customers preserve the value of their wealth. We hope that they use Tether to hedge their funds from inflation.

The product works by enabling users to convert Bitcoins to Tether in seconds, all done automatically in their private wallets. Users can also convert Tether back to Bitcoin, and then liquidate to any fiat currency of their choice. We have also enabled peer-to-peer trading of Tether, just as we do with Bitcoin on the marketplace. #BuiltWithBitcoin project is a Paxful initiative with plans to build 100 schools in the developing countries entirely with Bitcoin. Why are you focusing on schools and how are you progressing on the project thus far?

Our objective is to empower communities by providing education, safe drinking water, and essential aid to those who need it the most—all with the power of Bitcoin. We are confident that Bitcoin is capable of providing opportunities, improving lives, and making the world a better place. All of the projects that Paxful has accomplished from building schools, water wells, to providing insurance for students, etc., have created opportunities for under-served communities. The schools are progressing and performing very well, providing quality education. Paxful also covers all schools-running costs and provides uniforms, educational supplies and even meals to some of the schools. For example, each student receives their own school supplies including stationary, pencils, and most notably, books. Usually students need to leave their handbooks and textbooks at school for use by other students, but at Paxful’s schools, each student receives their own textbooks on a permanent basis. That is also a way to build the confidence of the students. In addition, each classroom has a desk space for two to three students. Usually, schools want to accommodate as many students on one student bench, sometimes four to five students if they can fit. We realise that that is not helping a healthy teaching environment because students are not able to learn as well as they cannot be focused under such circumstances. So Paxful provides the necessary tools and opportunity

How do you intend to win over the unbanked?

Paxful aims to support efforts in bringing Clean Water, Quality Education and Financial Freedom to the regions with high concentration of the unbanked. That is why our corporate social initiatives are focused on these areas, as we see in them tools to reach and connect with those who are currently excluded from the banking systems. We are changing the world one Bitcoin at a time. We also work hard to bring financial freedom to each person and this can only be possible via financial literacy and education. We partner with leading universities and blockchain associations to bring crypto literacy to the people. Everyone should be able to handle their own financial matters so we work to teach everyone about cryptocurrencies and how they could handle their financial matters themselves. Clean water is a basic human need and in some parts of the region, it is not easy to find. For many communities around the world, access to clean water is essential for personal health and sustainable farming. By building water filtration- and catching systems, we’re not only providing safe drinking water and improve hygiene levels, but also help with farming and running water access in the communities. Currently, we’re working on two water filtration centers—a 150-liter one in Kenya and a 220-liter one in Rwanda. They’re nearly finished and we can’t wait to see how it helps the local communities to thrive. Through the #BuiltwithBitcoin initiative we are building schools across the continent and our fourth school is starting in Nigeria in October. This is the way we work on educating the continent’s next generation.

What are your plans to educate the larger audience on bitcoin as so many people are still uninformed about the industry and how it operates?

We shall be using the twin forces of continuous education and collaboration. First course of action for us is the universities. During the BlockDeFi conference I connected with several students, curious about this technology and seeking for more information. We plan to hold online conferences, webinars, and commence student workshops in different universities once it’s safe to organise offline events. Next is continued partnership with Blockchain organizations in the country. We appreciate their efforts with the groundwork achieved already and look forward to reaching a larger audience through them.

Lastly, we hope to collaborate with government and private institutions interested in providing Blockchain training or content for the public or organisations.

What should we be expecting from Paxful in the nearest future?

We are at initial stages but in summary, our Nigerian customers should expect tailored products specifically designed to resolve their issues, improved customer support and exciting updates on some features.

DBN Gets SSCI Accreditation Certificate The Development Bank of Nigeria (DBN) has received an Accreditation Certificate of Acceptance in line with Sustainable Standards and Certification Initiatives (SSCI) by the World Development Finance Forum in Germany.

The certificate was received on behalf of the Bank by Nigeria’s Ambassador to Germany, Mr. Yusuf Maitama Tuggar, who was represented by the Deputy Chief of Mission of Nigeria to Germany, Mrs. Mobolaji Sakirat Ogundaro.

The Sustainability Standards & Certification Initiative (SSCI) is a global initiative for developing and maintaining the first holistic, universally accepted, and an executable set of across-the-board sustainability standards. The standards are established by consensus among stakeholders and adopted voluntarily by the value-driven financial institutions.

According to a statement, Ogundaro, while receiving the certificate said: “This accreditation demonstrates the level of commitment by the Development

Bank of Nigeria in integrating sustainability standards in its operations and also advocating for the adoption of principles of sustainability in the financial ecosystem in Nigeria.�

The Bank’s Managing Director, Tony Okpanachi appreciated the World Development Finance Forum for the accreditation, assuring that the Bank will not relent in efforts aimed at deepening its investments in the area of sustainability.

He said: “The award shows that we’re doing something

right and the international community has acknowledged that. As part of our strategy to deepen the impact on the Nigerian economy, we have equipped our Bank with additional expertise and structures in the area of sustainability. We recognize the benefits of acceptance into an elite accreditation forum such as the Sustainability Standards and Certification Initiative (SSCI) and we do not take it for granted.�

Appreciating Ogundaro and the Nigerian Mission in Germany, the CEO, Financial

Nigeria International, Nigeria’s representative of EOSD (European Union Strategy for Sustainable Development), Jide Akintunde said: “Please I would like to offer my deep appreciation to your Excellency, for graciously representing the country and the two Nigerian financial institutions, Development Bank of Nigeria Plc and Access Bank Plc, to receive the certificates and awards on their behalf.�

The Development Bank of Nigeria was conceived by the

Federal Government of Nigeria in collaboration with global development partners to address major financing challenges facing Micro, Small, Medium Enterprises (MSMEs). Since Inception, DBN has continued to impact the economy through the provision of access to finance, capacity building initiatives for PFIs, and MSMEs, as well as derisking facilities through a credit guarantee scheme to facilitate sustainable socio-economic development of the underserved, but critical sub-sector.

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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: Member of Coalition group, Mr. EgbuďŹ Chizoba, Coordinator civil society Coalition for judiciary Reform Mr. Mazi eze Ohuru, and Mr. Felix Nwele, at the press conference on national judicial council, by civil society Coalition for judiciary in Abuja...recently PHOTO: KINGSLEY ADEBOYE

L-R: Wife of Lagos State Deputy Governor, Mrs Oluremi Hamzat; wife of the governor and Chairman, Committee of Wives of Lagos State OďŹƒcials (COWLSO), Dr Ibijoke Sanwo-Olu and Chairman National Women’s Conference, Prof. Ibiyemi Bello, during a press conference on the forthcoming 20th National Women’s Conference in Lagos...recently

L-R: Special Adviser (Communications and Strategy), Mrs Sola Salako-Ajulo; Ekiti State Commissioner for Information and Values Orientation, Mr Akinbowale Omole and Secretary to the State Government, Mr Biodun Oyebanji at the press conference announcing activities for the second year anniversary of the Dr Kayode Fayemi-led administration in Ado-Ekiti...recently

L-R: Snr Category/Channel Manager-Premium, Nigerian Breweries Plc, Chris Ibeh; National Trade Marketing Manager, Nigerian Breweries Plc, Funso Ayeni; Business Manager- Modern Trade, Nigerian Breweries Plc, Juliet Ifebueme; MD/CEO Price Pointe Wholesale Club, Tayo Williams; Regional Business Manager, Olubukola Dare; and Portfolio Manager-NAD, Kehinde Kadiri during the grand opening of Tiger Den in Lagos...recently

Senate President Ahmed Lawan (left) and Speaker of the House of Representatives, Rep. Femi Gbajabiamila, during the presentation of the 2021 Appropriation Bill by President Muhammadu Buhari to the joint session of the National Assembly in Abuja...recently

Chief of Defence Sta, Gen. Abayomi Olonisakin (left) and Ambassador of Brazil to Nigeria, Mr Ricardo Guerra De Araujo, during the latter’s visit to Nigeria’s Defence Headquarters in Abuja...recently

L-R: Katstina State Coordinator, APC Ambassadors for Good Governance, Amb. Abdulrahaman Danyo; Director General, APC Ambassadors, Nnamdi Inyekwe; National Executive member of the group, Ibiziem Tony and Nasarawa State Coordinator, Mohammed Agye, during the press brieďŹ ng by the group on good governance in Abuja...recently PHOTO: ENOCK REUBEN

L-R: Chairman, Governing Board of , Lagos State University Teaching Hospital (LASUTH), Dr. Richardson Ajayi; First Lady Lagos State, Mrs. Ibijoke Sanwo-Olu; Chief Medical Director LASUTH, Professor Adetokunbo O. Fabamwo; Commissioner for Health Lagos State, Prof. Akin Abayomi and Donor of the New Holding Bay/ High Care Unit, Hon. Idowu Osuolale Obasa, at the commissioning of the new Holding Bay/High Care Unit, at LASUTH Ikeja.. recently PHOTO: ETOP UKUTT

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CITYSTRINGS

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Six Decades After, Its Uhuru for Nigerian Coastal Road Imagine a road that was conceptualised over 65 years ago just taking off now? Segun James takes a journey on the Nigerian Coastal Road that is designed to bring the coastal regions of the nation closer

The bulldozed part of the project which passes through the biggest mangrove forest in Africa and the third largest wetland in the world

The Olu of Warri at the project site

I

magine going from Lagos to Warri in two hours; and cruising a road along the the Atlantic Shoreline and among the mangrove forest that dots the coast of the Bight of Benin? Sound far-fetched?

Not anymore.

If the first Nigerian Coastal Road project from Koko in Warri North Local Government Area of Delta state to Lekki in Lagos State now being built by the Niger Delta Development (NDDC) comes to fruition, it will be a dream come true. The original plan was for a road from the Bakassi Peninsula in the East to Lagos in the West.

For 65 years, soon after oil was first found in commercial quantity in the Niger Delta area, the Nigerian Coastal Road has been on the drawing board. But work on the strategic Nigerian Road Project has finally begun now.

Although the contract for the project was signed and sealed in 2010 between the Niger Delta Development Commission (NDDC) and Levant Construction Company, a multinational engineering company, the project only took on a fast pace recently after the completion of the engineering designs.

For the Itsekiri people of Warri, who along with their neighbours, the Ijaw and the Ilaje of the Ilaje-Ese-Odo area of Ondo state, the commencement of work on the road is a long road to walk. Although neighbours, it takes several hours of boat rides along the snaky waterways to get from one community to the other.

The Coastal Road project has been a strategic project of the Federal Government of Nigeria right from the colonial days. As the oil industry became the mainstay of the nation's economy, the need to construct the road took an urgent turn. The government had realised the need to link the two most strategic regions (the oil producing areas of the Niger Delta and Lagos, the financial powerhouse of the country) together.

Spanning a little over 200 kilometers, the Coastal Road will, in the first phase, begin from Koko in Delta State passing through Okiti-Pupa in Ondo to Ijebu Waterside in Ogun State before terminating at Epe/Lekki corridor in Lagos state. According to experts, this is the shortest route between the two economic heart beats of the nation.

Since the oil industry is the mainstay of the nation's economic lifeline and Lagos, the financial soul, bringing the two regions closer is of most urgent importance.

So what has hindered the construction of the road? According to Prince Yemi Emiko, a retired oil industry senior executive, it is the lack of political will on the part of successive federal governments that is responsible for the lack on interest on the project.

Emiko said that although the project was awarded in 2010 under the Goodluck Jonathan-led federal government, but work on the project which is now at full pace took an urgent turn under President Muhammadu Buhari.

According to him, former Governor of Delta State, Dr. Emmanuel Uduaghan pushed for,

Prince Yemi Emiko

President Itsekiri Youth Council, Mr. Isaac Wehinmi Agbateniyiro

not only the award of the contract, but the state government actually began work on the construction and spurred the federal government on, before the NDDC to over.

This was confirmed by the Managing Director of the Levant Construction, Mr. Eli Thanos who disclosed that already, 15.4 kilometer of the road has been constructed up to Ureju town. He said the project is now at a point where a bridge will be constructed to cross the Ologbo river as the project moves west.

With Koko and the Escravos oil producing areas being the main feed point for Africa's largest refinery under construction, the Dangote Refinery in Lakki, the road is considered as very important by the federal government, hence, the urgency on the construction.

The Olu of Warri, Ogiame Ikenwoli while on an inspection tour of the project expressed delight on the pace of work going on even as he urged the federal government to expedite work on the project.

The Royal Father who was accompanied on the inspection by the member of the House of Representatives representing Warri Federal Constituency and Vice Chairman of the House Committee on the NDDC, Chief Thomas Ereyitomi, said he is happy with project even as he asked the federal government to terminate the contract on the Koko shore protect project, another strategic aspect of the road project.

But the time the project is completed, Koko, the second largest Itsekiri community will be the toast of the new development of the oil producing communities belt. Koko is a fast developing town that now houses a number of oil tank farms, a modular refinery which is under construction and a university which would be dedicated to the oil and gas industry and research with a focus on engineering and marine technology, the two vital industry that feeds the region.

For the now fast developing community, the last decade has been innovative and development oriented. This has led to the building of a proposed university and other petro-allied operations. Today the oil industry

is changing fast and the shift to secondary cities is obvious and logical. The nation's major oil producing hubs are increasingly overcrowded, over polluted and over saturated.

The history of the Coastal Road has been long and uneventful. By 1955, it was clear that the Niger Delta had serious problem. The vast region was the least developed part of the southern Nigeria even though it contributes substantially to the nation's economy.

Before oil was found in its bowels, it was known as the Oil River Area by the British. It as from the region that country sources most of its timber trees. It was also responsible for all the rubbers that the country produces.

But the region was abandoned despite the wealth that comes from the bowels of the people's land.

Today, the people have soldiered on. The are now one of the most educated people in the country and highly skilled too. According to Mr. Anthony Eguando, the backbone of Warri's talent pool is the highly educated youth; and with the proposed Warri University which will be a mainly research institution, the people are looking beyond the near future.

Eguando insists that today, the Warri North axis of Delta state is opening its gates to bluecollar workers from all over the country and internationally. An unprecedented relaxation of rules in an area where most jobs outside professional and high skill ones are reserved only for indigenes.

On the role of government in developing the coastal areas of the country, Eguando said: "well, personally I felt that if the government is serious about developing koko, as part of the first national rolling plan this road was designed in 1955. And our forefathers the founders of this nation were very objective in their design approach because from Koko Port here, if all vehicles take off from Apapa, Lagos, Port Harcourt, Warri, Calabar to the north the one from Koko will get there first...

"Then number two, the Benin River you are seeing here is the deepest natural sea port in Nigeria. And the distance from here to Epe In Lagos State reduce the travel hours by

several hour. This corridor is an alternative route to the Lagos end. This road is not going to be beneficial just to the Ishekiris but to the Ondo State Ilaje communities and in less than three hours you can get to Lagos.

"I have taken a boat from here to Lagos which is approximately three hours. So we are talking on the impact on Rivers State, those coming from Rivers, Bayelsa, Owerri, Akwa Ibom, they don’t have business going through the popular Lagos-Ibadan expressway.

Maybe when you were coming into the town you saw Total Producing Company. Total has been here for close to 50 years, they have an integrated facility here. If the expatriate community or investors can take advantage of such a corridor, I am wondering what is really wrong with our government. On this corridor, you have Oghara, you have Sapele, if you have time we will go through the waterways to see what we are talking about.

"This is the next corridor, the gateway, so for me it is not enough, government should go beyond the rhetoric, both state and federal government. Unfortunately Delta State is a natural hub for development in the oil sector.

So there is no excuse for the reckless abandoned projects for a corridor that generate wealth and could generate more if thee required infrastructure are in place.�

On the road project, Eguando admitted that NDDC is actually on the project "but unfortunately you know the rot that is called NDDC. I am not a government contractor, I don’t do anything with them but my concern is this area. Look at the shore protection. I ply my trade from supervising projects in the oil and gas industry but with what we have there, the contractor that handled this project is currently a seating governor in this country.

"To the best of my knowledge he wants to go and do road in his state, he has engaged Julius Berger, is that not wickedness? So for me like the Olu Of Warri has rightly said the contract should be cancelled. He commended Levant for a job well done. I am not totally happy because I am a victim of this corrupt system. About few weeks ago my crane sank in a road leading to my yard here on a road constructed and commissioned NDDC. So that was one of the things that motivated me and I said the Olu Of Warri must come here. And we are not going to stop at this we are taking it to the next level," Eguando insisted.

This was also concurred with by the President of Itsekiri Youth Association, Mr. Agbateyiniro Weyinmi Isaac, who said "it is still surprising that the coastal road called Koko-Ogheye-lagos road was part of the first Nigeria national developmental plan initiated by chief Festus Okotiebo,the first finance minister of Nigeria.

In that master plan,it was intended to be part of the road network that was to convey goods and services to and fro the koko sea port.

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

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CRIME&SECURITY

Assessing the Operational Readiness of Naval Commands Chiemelie Ezeobi writes that to get a first hand feel of commands and units across the country, the Chief of the Naval Staff, Vice Admiral Ibok-Ete Ibas, recently embarked on a tour that cut across the Central, Eastern and and Logistics Commands in the South-south

L-R: Chief of the Naval Sta, Vice Admiral Ibok- Ete Ibas(centre) anked by Flag OďŹƒcer Commanding, Logistics Command, Rear Admiral Sileranda Lassa and Flag Lieutenant to the CNS, Lieutenant Commander John Rimfat on an inspection tour of the command in Oghara, Delta State...... DINFO NHQ

Vice Admiral Ibas supported by the Flag OďŹƒcer Commanding, Central Naval Command, Rear Admiral Saidu Garba, planting a tree....DINFO NHQ

J

ust as discipline is the bedrock of any military formation, professionalism is another important virtue that is dear to the military, as this confers on them the need to live up to their responsibility in protecting the nation's borders against external threats, while assisting with other security agencies to preserve the peace internally.

Same holds true for the Nigerian Navy (NN) under the leadership of the Chief of Naval Staff (CNS), Vice Admiral Ibok-Ete Ibas. Amidst daunting challenges, the service has lived up to the strategic mandate it emplaced on fleet renewal, infrastructural development, as well as human resource management towards a secure maritime environment for enhanced national prosperity The CNS, who has in the last five years, placed premium in transforming the navy into a service well equipped to tackle contemporary challenges is ridding on the wings of his mission statement which is ‘To deploy a naval force that is well trained, organised and highly motivated to discharge its constitutional roles professionally and efficiently for the defence of Nigeria in ensuring her economic prosperity’.

THISDAY checks revealed that credit should also be given his promulgated Strategic Directive 1, which focused on eight key priority areasoperations, fleet renewal, logistics, infrastructural development and human resource development among others, including specific tasks to be accomplished by the branches, commands, establishments and units within specified time frame. Given the success of the Strategic Directive 1, the CNS afterwards promulgated Strategic Directive 2 in 2016.

Thus, to assess the operational readiness of commands in the Central, Eastern and Logistics Commands in the South-south, the CNS recently embarked on an inspection tour.

During the tour, it was obvious the sweat poured in by the naval headquarters has paid off in addressing some of the needs of the commands through comprehensive upgrades, renovation and phased furnishing of units.

The tour started off last week Monday with an inspection of the Logistics Command in Oghara, Delta State. He was received by the Flag Officer Commanding, Logistics Command, Nigerian Navy, Rear Admiral Sileranda Samaila Lassa.

He further went on to inspect the state of their library with the FOC and the Chief Staff Officer Logistics Command, Rear Admiral Olumuyiwa Olotu, before embarking on a tree planting exercise with the Flag Officer Commanding, Central Naval Command, Rear Admiral Saidu Garba to commemorate his visit to the Logistics Command.

As part of his tour, the CNS went to the Central Naval Command Headquarters, Yenogoa, Bayelsa State and also performed the foundation laying ceremony for a medical centre with support from

The CNS supported by Commodore Patrick Eah, Commodore Bara Iyalla performing the foundation laying ceremony for a medical centre at Central Naval Command Headquarters, Yenagoa, Bayelsa State...DINFO NHQ

The CNS (ďŹ fth right) in company of senior naval oďŹƒcers inspecting a collapsed part of the jetty at the Nigerian Navy Basic Training School Onne; an evidence of environmental challenges faced by the school ...DINFO NHQ Commodore Patrick Effah, Commodore Bara Iyalla. He was received by the FOC, Rear Admiral Saidu Garba.

He also went to the Nigerian Navy Basic Training School (NNBTS), Port Harcourt, Rivers State, where he interfaced with the team and also inspected the jetty at the school.

The CNS was also at the Nigerian Defence Academy (NDA), Kaduna, where he also met with the Commandant Nigerian Defence Academy

Major General Jamilu Sarham.

During his working visit to the Logistics Command in Oghara, he highlighted that the purpose of the visit was to assess the transformation and progress made at the command, since the assumption of office by Rear Admiral Lassa as FOC. The CNS during the reception organised in his honour informed all that the last time he was at the command, he was concerned

about the future of the NN as the support required from the LOC were not forthcoming as expected with regards to sustaining the fleet, units/ establishments and considering the huge investment the federal government is expending in running the Armed Forces. He further stated noted that without robust logistics, having a functional system will be a mirage.

Months down the line, Ibas said: “I am happy to state, that, from what we see, I believe that we are on the right path. An outstanding transformation of the command and facilities.

Bravo Zulu - Keep it up".

Vice Admiral Ibas further observed, despite the huge achievements made by the command, that there are so much still begging to be accomplished. “I want believe the FOC, Command Principal Staff Officers and Commanders of Units under the command will not rest on their oars in order to sustain this remarkable and unprecedented progress made�, he added.

The CNS reminded personnel of the command on the current security challenges in the nation and called for more commitment and sacrifices from all and sundry to overcome these challenges.

Also, he called on everyone to abide by the COVID-19 established protocols promulgated by the NCDC as well as dedication toward observing social distance, regular hand washing and avoiding crowded spaces.

Places visited by the CNS during the working visit to the Headquarters Logistics Command included the newly remodeled NB Headquarters Logistics Command Tailoring Workshop, command’s library and Command’s Operations Control Room for Integrated Logistics Management.

At the Nigerian Navy Barracks Oghara, Admiral Ibas inspected the 1,722m length x 11m new asphalted road network and constructed 1,354 meters length of drainages across the barracks.

Other projects inspected were the completed three blocks of 4 x 1 bedroom accommodation of junior officers, ongoing construction of ratings transit accommodation and gymnasium where the CNS planted a tree to support the command’s Tree Planting Campaign.

At Sapele, the CNS inspected the new Nigerian Navy Garment Factory with over 160 Industrial sewing machines.

Senior officers that accompanied the CNS during the visit were Commander Operations DELTA SAFE, Rear Admiral A Akininade; FOC Central Command, Rear Admiral SS Garba; Director Project Monitoring and Evaluation Naval Headquarters, Rear Admiral NB Nagenu.

Others were Naval Provost Marshal, Commodore CE Atebi; Director Project Naval Headquarters, Commodore B Iyalla; Director Information Naval Headquarters, Commodore Suleiman Dahun; and Commander NNS DELTA, Commodore SA Adepegba.

36

T H I S D AY Ëž ÍŻÍ°Ëœ 2020

BUSINESS/MONEYGUIDE

NIWA Commences Movement of Containers from Onne to Onitsha Port Eromosele Abiodun The National Inland Waterways Authority (NIWA) has commenced the test running of moving containers from Onne Port to Onitsha River port.

Speaking during the arrival of the containers from Onne at Onitsha River Port recently, the Managing Director/CEO of NIWA, Dr. George Moghalu said, “The aim of the test run is to break the jinx and encourage partnership with the Barge Operators Association that is possible to move containers from Onne to Onitsha by water successfully

and Onitsha to Onne as well.�

He further said, “This is the first phase of the test run and the second phase will be from Lagos Ports to Onitsha River port and Onitsha to Lagos.�

NIWA, he stated, was giving exemplary leadership to all investors that moving goods on the waterways was economically viable and safe, “so that investors can key in and benefit the potentials of water transportation.�

Helso added that as part of his commitment since he assumed duty as MD was to ensure that the Onitsha port is fully functional after 42 years of construction and

commissioned in 2012 but has not been put to use.

The exercise is in preparation of the full official operation of the port, which would commence by first quarter of 2021, he said. “There is no doubt that the full operation of the River port will boost Economic activities in Anambra State and south east, create jobs and wealth for our teaming youths, reduce bottle neck in clearing goods and save money wasted in transporting containers from different port to the south east, decongest our ports in Lagos and reduce the pressure on our roads, �he said.

NB to Support SMEs in South-east with N40m Raheem Akingbolu As part of the measures to further position, the Life Lager brand, Nigerian Breweries is set to support over 200 businesses with a cumulative sum of over N40 million, in its “Chop Life� experience. In a similar vein, the brewer said the ‘Chop Life Experience’ will see Life Lager empower its consumers with cash to support their businesses.

This would be done through in-bar activations expected to span across south-eastern cities like Enugu, Aba, Uyo, Warri,

Onitsha, and Port Harcourt from September 27 to October 25, 2020. Speaking on the initiative, the National Trade Marketing Manager, Nigerian Breweries Plc, Funso Ayeni, expressed delight at the launch of the initiative saying: “As a brand, Life Lager believes in progress, and the Chop Life Experience is our way of empowering our consumers. We recognise that sometimes all we need is financial support to get our dreams off the ground, and help us progress. We share this sentiment, and we are humbled to have the opportunity to support

businesses across the southeast.�

Life Lager has had a stellar year with remarkable initiatives such as its brand re-launch, as well as the widely acclaimed lighting of the Niger Bridge and the release of its theme song titled “Chop Life� featuring Phyno and Flavour.

Unveiled on August 1, 2020, the Niger Bridge lights further established Life Lager as a truly progressive brand, while its timely message of self-preservation; “Ndu Ka� was widely praised for its relevance and significance, particularly during the lockdown period of the pandemic.

Sigma Pensions Launches Chatbot on Whatsapp Nume Ekeghe Sigma Pensions has launched an Artificial Intelligence (AI) powered chatbot named ‘Nafi’ on WhatsApp to provide real-time self-service to customers.

With this, customers can now leverage on Nafi’s real-time messaging and response to check account balance as well as make general enquiries on their Retirement Savings Account (RSA) account.

Speaking about the initiative, the Executive Director of Operations, Afolabi Folayan said: “Sigma Pensions continues to explore ways to improve our customers’ experience throughout their pension journey and interactions with us. With the launch of ‘Nafi,’ customers have the support they require literally

on their palms right from the opening of their Retirement Savings Account to enjoying a pleasant retirement life. “The ease of use and comfort of the customer has been taken into consideration in developing this App, and it will ensure you have all the relevant information you need to stay rest assured that your pension is safe and growing�.

On his part, the Chief Technology Officer, Ugonna Onuoha said the chatbot would enable response to priority customer queries in real time. Queries such as how to open an RSA with Sigma Pensions, view their RSA PIN and balance, see the unit price for fund subscribed to, check the current status of benefits applications and see the last amount contributed.

Also, he added that the easy accessibility of Nafi would help Sigma Pensions build a stable relationship with the customers without them having to seek out physical channels. “Sigma Pensions has also provided the ability for customers to complete RSA registration and the mandated bio-data recapture online via the website. The client will immediately receive confirmation of completion of the process with the newly registered RSA or notice of any missing documentation or incomplete registration. “In addition, customers can also contact Sigma Pensions through Sigma Live Chat on the website, multilingual call centres, and dedicated relationship managers and through its office branches located across Nigeria,�

Moghalu Niwa

MARKET INDICATORS MONEY AND CREDIT STATISTICS Money Supply (M3)

36,822,751.47

-- CBN Bills Held by Money Holding Sectors

3,476,121.25

Money Supply (M2)

33,346,630.22

-- Quasi Money

120,764,479.02

-- Narrow Money (M1)

12,582,151.19

---- Currency Outside Banks

2,002,026.89

---- Demand Deposits

10,580,124.31

Net Foreign Assets (NFA)

7,637,137.23

Net Domestic Assets(NDA)

29,185,614.24

-- Net Domestic Credit (NDC)

39,711,115.95

---- Credit to Government (Net)

Nume Ekeghe 9mobile has continued to reward customers with millions of naira and smartphones across the country in its mega million promo.

So far, the promo has rewarded over 59 customers with N1million each and given out 3,000 smartphones and counting to lucky winners.

The promo designed to reward

90 lucky customers with N1 million daily would also give out two smartphones every hour for 90 days and a grand prize of N10 million at the grand finale.

Speaking on the promo, the Chief Executive Officer of 9mobile, Mr. Alan Sinfield, had stated that the promo was designed to support Nigerians during the uncertain and challenging times caused by the COVID-19 pandemic.

“We realise the challenges people are faced with during this period, and we have designed this promo to help cushion the effects of the Covid-19 in Nigeria as families and individuals continue to confront the economic impact of the pandemic. “This promo also demonstrates our philosophy that customers are at the core of our business, so we continue to prioritize them in our decisions.�

Union Bank Unveils Promo Dike Onwuamaeze The Union Bank has launched its ‘Independence Promo’ meant to reward its existing and prospective customers as part of its activities to mark Nigeria’s recently celebrated 60th Independence Anniversary.

The promo, which is scheduled to run all through the month of October, would reward the first 60 customers to activate their debit

cards each weekday and spend a minimum of N1,000 with N2,000 cash back reward.

In addition, the promo offers all the Union Bank’s customers “independence from charges,� throughout this month by allowing them to “enjoy zero fees on bill payments made via the UnionMobile App or the Bank’s USSD Code, *826#. “ The Head of Retail Banking and

Digital of the Union Bank, Ms. Lola Cardoso, who spoke during the unveiling of the promo in Lagos, praised Nigerians for their indefatigable spirit and tenacity of focus despite the current tough conditions.

Cardoso explained at the promo is a part of Union Bank’s efforts to reward her customers as they celebrate Nigeria’s 60th Independence anniversary.

19,521,851.08

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

-130,189,264.87

--Other Assets Net

3,472,017.70

Reserve Money (Base Money

13,421,827.07

--Currency in Circulation

2,395,917.03

--Banks Reserves --Special Intervention Reserves

11,025,910.04 317,234.17

Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

9mobile Rewards More Subscribers

(MILLION NAIRA)

JULY 2020

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

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

OPEC DAILY BASKET PRICE Ëœ Íś Í°ÍŽÍ°ÍŽ

The price of OPEC basket of thirteen crudes stood at $40.45 a barrel on Wednesday, compared with $40.33 the previous day, according to OPEC Secretariat calculations.

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

SOURCE: OPEC headquarters, Vienna

37

T H I S D AY Ëž ÍŻÍ°Ëœ Í°ÍŽÍ°ÍŽ

NSE, DMO Restate Commitment to Vibrant Fixed Income Market Goddy Egene The Nigerian Stock Exchange (NSE) has stated its readiness to continue to provide a hybrid market for issuers, dealers and investors. The Chief Executive Officer (CEO) of NSE, Mr. Oscar Onyema, stated this at a two-day webinar on fixed income market last week in partnership with the Debt Management Office (DMO) and CSL Stockbrokers.

According to him, the exchange continues to be the foremost platform creating new types of debt instruments in Nigeria with a market capitalisation of about N16.4 trillion. “By offering capital raising opportunities and secondary trading to all classes of issuers including sovereign, subnational, corporates and supra-national bonds, the exchange facilitates the interaction between borrowers

P R I C E S MAIN BOARD

F O R DEALS

and lenders in Nigeria driving efficient allocation of capital.

With fixed income markets representing one of the largest subset of global financial markets, NSE reiterates its commitment committed to providing a hybrid market for dealers as well as institutional and retail investors to continue to access increased liquidity in fixed income securities,�

Onyema said.

He said the NSE continues

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

to deliver on its mandate to not only provide the Nigerian economy with a reliable, multiasset hub, but to facilitate financial literacy programmes that help investors gain an in-depth understanding of opportunities in various asset classes. Onyema noted that the exchange is working assiduously to ensure that investors understand the characteristics of various securities and how they are issued or traded to

T R A D E D MAIN BOARD

A S

maximize their benefits.

Also speaking, the Director General, DMO, Ms. Patience Oniha, said, “while we have always had the money market and the capital market, the fixed income market has also grown to become active today with capital raising from government, corporates and multilaterals. “This shows that our market is capable of attracting both domestic & international

O F

players for the overall good of the economy. In meeting our objectives is to finance the budget and deepen capital market activity, we remain committed to using the fixed income platform to support various aspects of the economy. We will also remain responsive to investors’ needs for portfolio diversification by expanding our fixed income market with more sophisticated debt instruments.�

1 0 / 1 0 / 2 0 2 0 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

38

MONDAY, OCTOBER 12, 2020 ˾ T H I S D AY

MARKET NEWS

Lasaco Appoints Olateju Phillips as New Chairman Goddy Egene

Insurance Plc has appointed Dr. (Mrs.) Nigerian Stock Exchange (NSE), Lasaco last Wednesday. from England and Wales. She is a Maria Olateju Phillips, as the new Assurance Plc said the appointment Phillips is a successful Chartered former Director in Keystone Bank; The Board of Directors of Lasaco chairman. In a notification to the was made at its board meeting held Accountant who holds an ACCA former Director, Lagos State Lottery A Mutual fund (Unit Trust) is an investment floor of the Nigerian Stock Exchange.

Offer price: The price at which units of a trust or vehicle managed by a SEC (Securities and A REIT (Real Estate Investment Trust) is an ETF are bought by investors.

Exchange Commission) registered Fund Manager. investment vehicle that allows both small and Bid Price: The price at which Investors Investors with similar objectives buy units of the large investors to part-own real estate ventures (eg. redeem (sell) units of a trust or ETF. Fund so that the Fund Manager can buy securities Offices, Houses, Hospitals) in proportion to their Yield/Total Return: Denotes the total that willl generate their desired return. investments. The assets are divided into shares that return an investor would have earned on An ETF (Exchange Traded Fund) is a type are traded on the Nigerian Stock Exchange. his investment. Money Market Funds report of fund which owns the assets (shares of stock, Yield while others report Year- to-date Total bonds, oil futures, gold bars, foreign currency, GUIDE TO DATA: Return. etc.) and divides ownership of those assets into Date: All fund prices are quoted in Naira as at 08- NAV: Is value per share of the real estate shares. Investors can buy these ‘shares’ on the Oct-2020, unless otherwise stated. assets held by a REIT on a specific date.

Board; Honorable Commissioner for Special Duties & Inter-Governmental Relations in Lagos State.

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 0.98 0.99 8.83% ACAP Income Funds 0.85 0.85 10.99% 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 5.02% AIICO Balanced Fund 3.25 3.35 32.58% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 1.32% Anchoria Equity Fund 113.17 113.57 9.93% Anchoria Fixed Income Fund 1.36 1.36 16.18% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 16.01 16.49 4.50% ARM Discovery Balanced Fund 366.21 377.25 6.01% ARM Ethical Fund 31.72 32.68 9.07% ARM Eurobond Fund ($) 1.15 1.16 15.51% ARM Fixed Income Fund 1.10 1.10 9.91% ARM Money Market Fund 1.00 1.00 3.83% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 109.61 110.38 14.08% AXA Mansard Money Market Fund 1.00 1.00 N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund N/A N/A N/A Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) N/A N/A N/A CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 4.92% Paramount Equity Fund 13.28 13.53 6.14% Women's Investment Fund 120.86 122.06 9.52% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 3.26% Cordros Milestone Fund 2023 114.47 114.98 Cordros Milestone Fund 2028 130.43 131.42 Cordros Dollar Fund ($) 103.10 103.10 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 3.25% Coronation Balanced Fund 1.05 1.06 13.10% Coronation Fixed Income Fund 1.64 1.64 23.34% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 3.72% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 2.43% EDC Nigeria Fixed Income Fund 1,193.63 1,207.84 7.63% 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 1,458.53 1,460.24 19.24% FBN Balanced Fund 162.55 163.79 10.71% FBN Halal Fund N/A N/A N/A FBN Money Market Fund 100.00 100.00 3.29% FBN Nigeria Eurobond (USD) Fund - Institutional 120.41 120.85 4.18% FBN Nigeria Eurobond (USD) Fund - Retail 120.44 120.87 3.70% FBN Smart Beta Equity Fund 127.16 129.13 -2.28% 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 2.80% Legacy Debt Fund 3.83 3.83 4.92% Legacy Equity Fund 1.28 1.31 13.53% Legacy USD Bond Fund 1.12 1.12 3.90% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund N/A N/A N/A Coral Income Fund N/A N/A N/A FSDH Treasury Bills Fund N/A N/A N/A GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 3.90% Nigeria Entertainment Fund 122.96 123.49 14.28%

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 3.44% Vantage Balanced Fund 2.39 2.44 9.19% Vantage Guaranteed Income Fund 1.00 1.00 7.37% Kedari Investment Fund (KIF) 152.12 152.90 6.14% 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 N/A N/A N/A Lotus Halal Fixed Income Fund N/A N/A N/A 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 1.38 1.41 13.03% PACAM Fixed Income Fund 11.87 11.84 5.03% PACAM Money Market Fund 10.00 10.00 3.17% PACAM Equity Fund 1.20 1.21 PACAM EuroBond Fund 108.54 111.18 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 120.67 123.32 -0.51% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.02 1.02 6.62% 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 13.89% Stanbic IBTC Bond Fund 210.33 210.33 5.51% Stanbic IBTC Ethical Fund 0.88 0.89 11.67% Stanbic IBTC Guaranteed Investment Fund 273.87 273.95 6.36% Stanbic IBTC Iman Fund 154.92 156.64 13.99% Stanbic IBTC Money Market Fund 100.00 100.00 3.06% Stanbic IBTC Nigerian Equity Fund 7,674.15 7,756.30 6.89% Stanbic IBTC Dollar Fund (USD) 1.21 1.21 4.28% Stanbic IBTC Shariah Fixed Income Fund 109.84 109.84 5.40% 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 N/A N/A N/A United Capital Bond Fund N/A N/A N/A United Capital Equity Fund N/A N/A N/A United Capital Money Market Fund N/A N/A N/A United Capital Eurobond Fund N/A N/A N/A United Capital Wealth for Women Fund N/A N/A N/A 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 11.15 11.28 8.49% Zenith Ethical Fund 12.31 12.42 5.92% Zenith Income Fund 24.51 24.51 7.88% Zenith Money Market Fund 1.00 1.00 3.53%

REITS NAV Per Share

Fund Name SFS Skye Shelter Fund

Yield / T-Rtn

117.93

5.15%

53.40

2.59%

Bid Price

Offer Price

Yield / T-Rtn

9.71 98.68 74.99

9.81 100.81 76.37

15.99% 4.47% -0.18%

Union Homes REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.61 4.60 13.42 1.00 12.23 198.56

3.65 4.68 13.52 1.00 12.43 200.56

5.50% -22.04% 10.35% N/A 17.53% 4.96%

NAV Per Share

Yield / T-Rtn

108.03

15.02%

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.

MONDAY OCTOBER 12, 2020 • T H I S D AY

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MONDAY 0CT0BER 12, 2020 ˾ T H I S D AY

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NEWSXTRA

Nothing Sinister about Water Resources Bill, FG Insists Iyobosa Uwugiaren in Abuja The Minister of Water Resources, Mr. Suleiman Hussaini Adamu, yesterday said that efforts were being made to douse the tension generated by the representation of the National Water Resources Bill before the National Assembly by engaging with all stakeholders across the country, insisting that there is nothing sinister about the proposed legislation.

The minister has also advised critics of the bill, particularly from the southern states, to note that most of the major water sources in the country, except those in the South-west, were from rivers Niger and Benue or from Jos-plateau or the Mambilla highlands, which are all in the northern parts of the country.

“If there is no national law to regulate them, Kebbi State can decide to build dams on river Niger; Adamawa can decide to build dams on the Benue and cut everyone else off. Then, what happens to the Niger Delta?,’’ the minister queried.

Prominent leaders from Southern Nigeria and the Middle Belt, including Benue State Governor, Mr. Ortom and Nobe Laureate, Prof. Wole Soyinka, had kicked against the bill.

Also, socio-political organisations, including

PANDEF, Afenifere, Ijaw groups and Ohanaeze Ndigbo, have condemned the bill, saying it was an attempt by the federal government to secure the lands around the rivers in southern Nigeria to resettle the herdsmen after the failed Rural Grazing Area (RUGA) initiative.

Ortom had said the provisions of the bill were at variance with the Land Use Act, and that the bill was a “disguised landgrabbing legislation designed to grant pastoralists unhindered access to river basins, adjacent marine and coastal environments across the country.”

The bill, in the past few weeks has generated ethnic, religious and political emotions - leading to recent clash among members of the House of Representatives during plenary.

The development, forced the Speaker, Hon. Femi Gbajabiamila, to direct its withdrawal and reintroduction, advising that the controversial bill should be properly gazetted in line with the rules of the House.

Expressing the concern of the federal government, the Minister of Water Resources, Mr. Suleiman Hussaini Adamu, told journalists in Abuja weekend that the government was baffled by the controversy and hot air the bill has created.

The minister feared that the controversy has the capacity to impair a once-in-a-life-time huge chance to provide a broad framework to harness the nation’s natural resources for the benefit of the greater majority of the population.

He argued that contrary to political and ethnic sentiments

that have been expressed by some commentators, the proposed law is ‘’not Buhari’s bill; it is not Fulani’s Bill and it is not RUGA’s bill’’, saying the Water Resources Bill has been turned upside down.

“I am so shocked about what people are saying. If I show you that the Water Resources Act 2004 and the new Water Resource Bill,

90 per cent of what is in this Act is what is in the bill. ‘’The only reason why we are bringing this law is that we have four laws under the water sector, which we want to consolidate into one statute”, the minister explained.

Giving history of the presentation of the bill before

the National Assembly, the minister explained that based on the recommendation of different experts set up to work on bill, the House of Representatives passed for second reading “A Bill for an Act to Establish a Regulatory Framework for the Water Resources Sector in Nigeria” in July 10, 2017.

END OF SARS TERROR...

L-R: Acting Deputy Inspector General of Police (AIG), Force Intelligence Bureau (FIB), Mr. Ibrahim Lamorde; Deputy Inspector General of Police (DIG), Logistics Supply, Mr. Aminci Baraya; Inspector General of Police (IG), Mr. Mohammed Adamu; DIG in charge of Training and Development, Mr. Lawal Sheu; and the Force Secretary, Force Headquarters , AIG Alkali Baba Usman, during a press conference on the ban of SARS in Abuja... yesterday

Disbandment SARS Laced with Insincerity, Amnesty International Alleges Ejiofor Alike Despite the disbandment of the Special Anti-Robbery Squad (SARS) yesterday, Amnesty International has said decision was laced with insincerity A statement issued by its Nigeria Director, Mrs Osai Ojigho, said the disbandment fell short of

demands for accountability and justice for abuses committed by the unit and the police in general.

She added that the decision must be supported by addressing the underlying issues that allowed impunity to thrive.

Ojigho advised that for a sustainable and long lasting change, the police authorities

must provide unhindered access to SARS and other police detention centres by oversight bodies such as Police Service Commission (PSC), National Human Rights Commission (NHRC), as well as lawyers and human rights defenders.

“Today’s announcement by the IG disbanding the infamous

SARS falls short of demands for accountability and justice for abuses committed by the unit and the police in general.

“Disbanding SARS must be supported by addressing the underlying issues that allowed impunity to thrive.

“For sustainable and long lasting change the police

HURIWA Urges Buhari to Prosecute Human Rights Violators in SARS Peter Uzoho The Human Rights Writers Association of Nigeria (HURIWA) has called on President Muhammadu Buhari to immediately constitute several judicial commissions of investigations on the activities of the disbanded Special Anti Robbery Squad (SARS), a unit in the Nigerian Police, and make recommendations on those to be prosecuted for crimes against humanity.

It said mere disbandment of SARS was cosmetic and grossly insufficient, adding that the statement from the Police hierarchy that the members of the disbanded SARS would be redeployed to other units of the police and a team set up

to investigate allegations of human rights violations by them should be taken as deception.

In a statement yesterday jointly signed by its National Coordinator, Mr. Emmanuel Onwubiko and the National Media Affairs Director, Ms Zainab Yusuf, HURIWA said nothing good will come out from an adjudication process instituted by the same institution of the Nigerian Police accused of gross human rights violations.

The Inspector General of Police (IGP) Mr. Mohammed Adamu, had yesterday ordered the disbandment of SARS, following nation-wide protest by Nigerian youths against alleged extra-judicial killings, assaults and several human rights violations carried out by

the proscribed operatives.

The rights group said it was inconceivable that the Police wants to be both the prosecutor and the judge in the case of extensive use of extra-legal killing tactics against suspects by the operatives of SARS. HURIWA dismissed the announcement as an after-thought and a subterranean attempt by the IG to set up another special anti-robbery squad through deceptive approaches.

It asked the protesters to remain vigilant “in case the Police hierarchy simply re-baptises the now disbanded SARS”.

It said it will be cosmetic and simplistic to just announce that SARS had been disbanded and that the members would be redeployed

to other policing units across the country.

HURIWA argued that such step by the Police hierarchy was not far-reaching enough since it would amount to mixing up rotten eggs with semi-rotten and fairly good eggs in the larger Nigerian Police Force.

“We are not convinced that the politically correct public statement disbanding the notorious SARS by the Inspector General of Police, Mohammed Adamu will change anything.

HURIWA further said: “At best, it is like changing the colour of an old car and failing to overhaul the engine, meaning that the vehicle will still be the same in substance and form.

ICIT Nigeria Partners Microsoft, 9Mobile on Platform Sunday Okobi A Nigerian foremost business technology solutions provider, Internet Communications and IT (ICIT) Solutions Nigeria, and tier-one Microsoft have announced their partnership with 9Mobile to launch 9Business Cloud, a top-notch e-commerce platform, where one can buy all cloud-based software packages, designed to enhance business productivity in the fast-growing

Nigerian market.

The Nigeria ICIT is an experienced information technology solutions provider with a mission to efficiently empower businesses to achieve more with less using automation.

The Managing Director of ICIT Solutions Limited Mr. Kamar Oyenuga, in a statement made available to THISDAY yesterday, said the company provides both

SMEs and enterprise level businesses with affordable and trusted managed IT services and business process automation solutions to help them operate effectively.

He added that the company’s primary goal is to help clients build systems where business productivity is optimised, profitability is increased, and peace of mind is guaranteed.

According to Oyenuga, “We

are excited to announce our partnership with 9Mobilie Nigeria to launch this firstin-class cloud solutions e-commerce platform 9Business cloud for organisations of all sizes.

“Whether you are an organisation of one or 10,000 employees, we have something for you to enable you manage and run your business from anywhere.”

authorities must take the following steps: Immediate and unhindered access to SARS and other police detention centers by oversight bodies such as Police Service Commission, National Human Rights Commission, as well as lawyers and human rights defenders.

“Immediate investigation and prosecution of all police officers

who have been accused of grave human rights violations such as extra judicial executions, torture, and other ill-treatment. “ A clear and concise timeline for the implementation of the reforms to end police atrocities is key to safeguarding trust between Nigerians and the authorities.”

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Maritime Workers Accuse Four Shipping Companies of Causing Apapa Gridlock Maritime Workers Union of Nigeria (MWUN) has named four shipping companies it said were responsible for the intractable gridlock on Oshodi-Apapa Expressway and has issued a 21-day ultimatum to the federal and state governments to call the affected companies to order, failing which members will withdraw their services from the nation’s ports.

According to a statement issued yesterday by the President-General of the union, Prince Adewale Adeyanju, the companies are MAERSK LINE, PIL (Pacific International Lines), MSC (Mediterranean Shipping Company, S.A.) and MOL (Mitsui Osk Lines).

He accused them of not having holding bays in absolute

disregard of regulations and standards which provide that a shipping company must have a holding bay before beginning operations.

The union claimed the said shipping companies deliberately delay trucks laden with containers to attract demurrage daily from already over-burdened union members, truck owners and their drivers.

The statement read in part: “It is with a sense of duty and responsibility that we wish to bring to the public space the inimical activities of some shipping industry.

“Nigerians, especially Lagosians, are living witnesses to the continuous pains, danger, suffering, and intractable gridlock that heavy-duty trucks have

been causing over the years on the Oshodi-Apapa Expressway, with its negative economic consequences.

“We cannot continue like this.

As a major stakeholder in the maritime sector, whose members and activities have been negatively affected by the gridlock on the access roads to the ports, especially in Tin-Can and Apapa ports, we

have painstakingly studied the causes of the gridlock and have identified the shipping companies responsible for the gridlock.

“These shipping companies include MAERSK LINE, PIL, MSC and MOL. They deliberately keep container-laden trucks as means of attracting demurrage payment daily from our already over-burdened members, truck

owners and their drivers.

“They operate along OshodiApapa Expressway and do not have holding bays in absolute disregard to regulations and standards which provide that a shipping company must have a holding bay before going operational.

“In consequence, these companies have converted

the major express road to their holding bays and packing lots, thereby hindering free flow of traffic.

“We are using this medium to call on the Federal Government and state government to, within the next 21 days, call these companies to order and compel them to stop using their private businesses to cause public nuisance.

No Corps Member Kidnapped in Ondo, Says NYSC The National Youth Service Corps (NYSC) has said none of the corps members deployed for the Saturday governorship election in Ondo State was kidnapped or missing.

The Director of NYSC in Southwest Area Office, Mr. Emmanuel

Attah, disclosed this yesterday in Akure.

Attah, who was in Ondo State for the poll, described the report that a corps member was kidnapped in Idanre during the election as false.

He said NYSC officials had

been receiving calls from parents and relatives of corps members serving in Ondo State based on the report.

Attah said, “No corps member was kidnapped, before, during, and after the Ondo State governorship election.

“All our corps members who were deployed as INEC ad hoc officials for the election have since returned to their respective lodges and abide and they are in good health. The report that a corps member was kidnapped is not true.”

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MONDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

Egbe: Eagles’ Loss to Algeria No Big Deal, Backs Rohr Insists: ‘Friendlies meant to try out new players’

FIFA Match Agent and Stadium Facility Expert, Ebi Egbe, insisted at the weekend that there is nothing to worry over Super Eagles 0-1 loss to reigning African champions Algeria last Friday night in Austria.

Egbe who is the CEO of Africa’s leading stadium construction outfit, Monimichelle Group, said international friendlies are played ostensibly to make a team see its weaknesses

and how to work on them.

He noted that the game against Algeria would definitely have given Rohr an insight into what to do ahead of the AFCON and World Cup qualifiers, even as he said coming hard on the team would make the players lose confidence in themselves. “We need to encourage the team...this is not the time to write them off as it would not help us. Coach Gernot Rohr and

his boys need the support and encouragement of Nigerians,� observed Egbe whose firm constructed the playing turfs of stadiums in Aba, Katsina, Makurdi, Yenegoa, and the yet to be officially opened new Onikan Stadium in Lagos.

He commended the NFF for utilizing the FIFA window to try out new players in the senior national team. “The NFF has on its part done well by putting quality friendlies

together for Rohr to try out new players. I am happy the era when Nigeria was not part of the action during FIFA international break is gone. Kudos must go to the Amaju Pinnick led board for turning things around,� Egbe observed.

He stressed that he is confident Nigerians would see the real Super Eagles when the three-time African champions face Sierra Leone next month in the double header AFCON qualifiers.

The Eagles are billed to take on Tunisia on Tuesday in another friendly during the 10-day FIFA approved international break.

Meanwhile, this morning in Austria, Rohr and his team will undergo another Covid-19 tests again before taking on the Carthage Eagles of Tunisia tomorrow.

Ramy Bensebaini’s sixthminute strike handed the Djamel Belmadi’s Desert Foxes of Algeria a slim 1-0 triumph over Nigeria

in Friday’s international friendly.

The Super Eagles would be hoping to return to winning ways against Mondher Kebaier’s team that silenced Sudan 3-0 in Rades thanks to goals from Saif-Eddine Khaoui, Wahbi Khazri and Anis Ben Slimane.

Both teams last met at the 2019 Africa Cup of Nations third-place play-off, with Odion Ighalo’s thirdminute strike handing Rohr’s men the bronze medal inside Cairo’s Al Salam Stadium.

#EndSARS

Ozil, Rashford, Rudiger, Others Join Protest against Police Brutality Before the Inspector General of Police, Mohammed Adamu announced the dissolution of the Federal Special Anti-Robbery Squad (SARS) yesterday, Arsenal’s Mesut Ozil, Manchester United’s Marcus Rashford, Ghana goalkeeper Fatau Dauda, Chelsea duo Tammy Abraham and Antonio Rudiger, as well as former African Footballer of the Year, Frederic Kanoute, have lent their voices to the protest against police brutality in Nigeria.

There have been protests in the country in the past week with citizens agitating for the scrapping of the Special AntiRobbery Squad, a unit of the Nigeria Police Force.

SARS officers have been accused of harassing, robbing and killing youths for no just reasons over the last few years.

In February, they killed a footballer in Ogun State – Tiamiyu Kazeem, who was the vice-captain of Remo Stars, a club in the Nigerian second division.

Several sports men and other youths have had very harrowing experiences with these operatives

who most times resort to extra judicial killings.

On Saturday, Arsenal legend Ian Wright joined Serie A club AS Roma in supporting the public outcry even though another citizen was killed by the police during a peaceful protest in Oyo State. “Horrible to hear what’s been going on in Nigeria. Let’s make this a trending topic everywhere #EndSARS. My thoughts go out to everyone who has been affected. #EndPoliceBrutality,�

Ozil wrote on social media. “My thoughts and prayers with all of those affected #EndSARS,�

Rashford also tweeted.

Despite his international allegiance to England, Chelsea’s Tammy Abraham who was born to a Nigerian father showed his solidarity with a broken heart emoji.

Ghana goalkeeper Fatau Dauda who won the Nigeria Professional Football League title with Enyimba in 2019, also called for an end to the killings and described Nigeria as his second home.

Adesanya, Jones in ‘War of Words’ over UFC Supremacy Despite all the famous faces and controversial characters in UFC history, no two fighters have created bigger rivalry than Israel Adesanya and Jon Jones.

The likes of Connor McGregor, Tito Ortiz, Daniel Cormier and Ronda Rousey have developed several spats over the years - yet ‘The Last Stylebender’ and ‘Bones’ have created a deep-founded hatred for one another that has dragged on for months.

According to UK’s Daily Mail, the duo could end up fighting soon with 2021 deemed to be the year when Adesanya and Jones finally match up after their ‘war of words’ on Twitter and other social media outlets.

Yet while the pair are separated from taking each other on in the Octagon, their online spats are sure to continue throughout the winter and into the new year.

Sportsmail took a look at the history of the online jibes the pair have brought out over the past year-and-a-half...

Jones claimed in a nowdeleted Instagram post: ‘But what? You’ve stepped into the ring over 100 times now and you’re still not ready!? You have a youth advantage and like four times the fighting experience. “The truth is you’re already my p***y, you love being undefeated and you’ve seen what’s happened to everyone else. It raises your stock to mention my name, you’re aware of this. “You don’t want real confrontation with me, I’m not gonna just stand there and kick-box with you. I’ve been preparing for heavyweights, right around now I would literally tear one of your arms off.�

Adesanya couldn’t resist a small dig at Jones following his last victory over Costa, though was mainly focused on the success over the Brazilian on the night in question.

He simply said: “I just wanted to f*** up Jon Jones and I still will.�

Super Eagles getting pep talks from Head Coach, Gernot Rohr ahead of Tuesday’s friendly with Tunisia in Austria

Ogunsakin Brothers Dominate 2020 CBN Jnr Tennis Championships Duro Ikhazuagbe The Ogunsakin brothers, Seun and Seyi, who played in the Boys 14 and Boys 12 events respectively were the talking points of the 2020 CBN Junior Tennis Championships which took place at the Lagos Lawn Tennis Club, Onikan, Lagos at the weekend.

Seun in particular showed so much promise that the future of tennis remains bright in the country if such lads gets good support from Corporate Nigeria.

In the final of the Boys 14 Seun Ogunsakin from Ekiti State

played against Mohammed Idris from the Federal Capital Territory (FCT), the JSS 2 student of Christ School, Ado Ekiti showed skills unbelievable from an 11-year tennis player.

His service, double hand rallies and deft touches on drop shots were amazing to the few fans inside the Centre Court of the Lagos Lawn Tennis arena. The left-handed Seun (fondly called ‘Nadal’ by his admirers) who played against another southpaw Idris, stretched the FCT player through the court until the Abuja lad could not continue due to a pulled shoulder.

Seun won the Boys 14 category

8-2.

Earlier, Seun’s younger brother, Seyi won the Boys 12 category, defeating David Edwards 6-3, 40 Love (retired).

Other winner in the boys events of the CBN Junior Tennis Championship include, David Ekpeyong who defeated Joshua Maxwell 9-1 in the Boys 16 category.

In the Girls 14, Nene Yakubu defeated Amarachi Ezeh 9-2 to win the category while Mary Udofa sent Blessing Otu packing in a stunning 9-0 result.

For the Udofa, the CBN Championship was her last outing in the junior category

L-R: Girls 14 runners-up, Amarachi Ezeh; Acting Director, Corporate Communications Dept, Central Bank of Nigeria (CBN), Mr. Osita Nwanisobi and winner, Girls 14 category, Nene Yakubu at the finals of the 2020 CBN Junior Tennis Championship in Lagos‌at the weekend

as she is stepping up to begin to play in the senior category, starting with the senior CBN Tennis Championship in Abuja next month.

She capped her brilliant outing emerging the Most Outstanding Player in the Girls’ section.

Mubarak Ganiyu was selected as the Most Outstanding Player in the Boys section.

Speaking at the end of the event, Governor of the CBN, Mr. Godwin Emefiele, commended the players for putting up scintillating performances to the delight of all present at the championship.

The CBN governor who was represented by the Ag. Director, Corporate Communications, Mr. Osita Nwanisobi, stressed that the purpose of setting up the competition as a grooming ground for the discovering of talents and nurturing them to become champions was on course. “A good number of teenage champions like Omolayo Bamidele, Rebecca Ekpeyong amongst several others were discovered in the CBN Junior Championship.

While commending organisers of the competition, the International Tennis Academy (ITA), the CBN chief executive pledged the continuous sponsorship of the youth tournament.

Nigeria first and only individual gold medalist at the Olympic Games. Assistant Commissioner of Police, Chioma Ajuwa, immediate past Deputy Managing Director of Total, Mr. Ahmadu Musa Kida and other VIPs watched the final of the junior championship.

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South Sudan President Lauds TB Joshua’s Contributions to End Country’s War Invites cleric

Segun James The President of the Republic of South Sudan, Salva Kiir Mayardit, has expressed his country’s gratitude to the General Overseer and the Founder of Synagogue Church of All Nations (SCOAN), Prophet T.B Joshua, for helping to resolve the country’s civil war.

In a letter of invitation to Prophet T. B Joshua, President Mayadrdit said: “With due respect and honour, I am privileged to write to your highly prophetic esteemed office in reference to the above-mentioned subject.”

The president said the protracted civil war in the country which had defied international intervention was resolved due to

the prophet’s intercession.

He added: “First, I would like to thank you, humble servant of the Most High God and the highest grace and anointing upon your life, and for your love and humility for coming on your prophetic and historic visit on November 12, 2019, when the nation was in a desperate situation, whereby the country was experiencing civil violent war for many years.”

He said the world organisation tried to negotiate peace, “but where human wisdom fails, God has the final answer.

“As you have prophesied, that it shall be a new beginning for the nation, and that we the leaders should overcome our divisions and our differences and come

back to develop our youngest nation in the world.

“Hence we, the government and the opposition have come together to implement the revitalised peace agreement, and now the nation is at peace followed by the formation of Revitalised Transitional

Government of National Unity (RTGONU), which signifies a new beginning indeed.

“For I am the Lord, I speak, and the word which I speak will come to pass, it will no more be postponed: Ezekiel 12: 25.

“Secondly, based on the above-mentioned reference, I want to take this opportunity to invite you again to the Republic of South Sudan to harvest what you planted. The whole nation of South Sudan is ready to receive you once again.

“Being confident of this proverb, he who began the good work will complete it until the day of Jesus Christ: Philippians 1: 6, so we are inviting you to come and complete the good work which you started”

Afenifere, PANDEF Want Killers of #EndSARS Protesters Prosecuted Deji Elumoye in Abuja The pan-Yoruba socio-cultural group, Afenifere, and its Niger Delta counterpart, Pan Niger Delta Forum (PANDEF), have called for the arrest and prosecution of all police officers involved in the killing of innocent citizens in the course of the #EndSARS protests that rocked different parts of the country in the last few days.

The two groups, while reacting yesterday to the disbandment of Police Special Anti-Robbery Squad (SARS) across the 36 states of the federation and Abuja, lauded the step taken in this regard by the Inspector-General of Police (IG), Mohammed Adamu.

Afenifere in a reaction by its spokesman, Yinka Odumakin, described the dissolution of the police anti-robbery squad as a welcome development despite the fact that agitation for its scrapping had claimed some lives.

The group, therefore, called for the immediate arrest and trial of the killer policemen of #EndSARS protesters.

Odumakin said: “It is a good thing that this responsiveness has come, but unfortunate, it was only after the police had wasted more precious lives. Those who killed those protesters must be fished out and punished.”

Also reacting, PANDEF, while welcoming the disbandment of SARS, described the IG’s action as a positive detour from the established “unheeding” tendency of the Presidnt Muhammadu Buhari administration.

The group in a statement issued by its National Publicity Secretary, Hon Ken Robinson, said the government has heeded the uproar of the citizens against SARS, and for once, acted promptly in disbanding the Special Squad “whose personnel went off their duty lines and core mandate of combating armed robbery, kidnapping and other violent crimes in the country, and virtually became a terror gang with disturbing reports of their wanton misdeeds, particularly against young people, across the country.”

Catholic Church Backs Agitation against SARS Onyebuchi Ezigbo in Abuja The Catholic Secretariat of Nigeria has asked the federal government to consider the concerns of Nigerian youths over acts of victimisation and impunity perpetrated by the Police Special Anti-Robbery Squad (SARS).

A statement issued by the Directorate of Social Communications of the Catholic Secretariat of Nigeria over the #ENDSARS campaign said there are evidences to attest to the fact that the SARS officers have turned against the citizens they were meant to protect.

“The current agitation

by Nigerian youths for the disbandment of SARS is as a result of the deep frustration and suffering the youths and other citizens have experienced in the hands of the Nigeria Police Force,” it said.

In the statement signed by its National Director of Social

Communications, Padre Mike Nsikak Umoh, the Catholic Secretariat of Nigeria said stories abound attesting to the fact that officers and men recruited for the purpose of securing the lives and property of the citizens have unfortunately turned around to be a menace to the very citizens they are paid to protect.

According to Umoh, “This in some way is a reflection of the poor value presently attached to the dignity of the human person in our country, including the value for life itself, by majority of the political office holders and those officially in charge of the instruments of maintaining peace and order in our society.

“The Catholic Secretariat aligns with this agitation by the Nigerian youths, but more so as a pathway to bettering governance in general and engendering mutual respect for citizens’ rights and dignity.

MARITIME SAFETY ON THEIR MINDS...

L-R: Consul at Lagos office of the Korean Embassy, Mr. Choi Chungsung; Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh; new Consul-General of the Korean Embassy, His Excellency, Kang Haenggu; and the Executive Director, Operations, NIMASA, Mr. Shehu Ahmed, during a courtesy visit by the envoys to NIMASA at the agency’s headquarters in Lagos ... recently

Gunmen Abduct Ex-council Vice-Chairman, Legislative Members in FCT Olawale Ajimotokan in Abuja Gunmen have struck again in Kuje, Federal Capital Territory (FCT), when they abducted a former Vice- Chairman of Kuje Area Council, Mohammed Baba; two members of the council’s legislative arm and several support staff of the council, including the Transport Officer, Special Assistant, Media, Head of Department (HoD) and Food Services.

The abduction took place last Saturday night, and was confirmed

yesterday by the FCT Police Public Relations Officer (PPRO), ASP Yusuf Mariam, confirmed the incident yesterday. She said the police authorities have initiated the efforts to rescue the abducted persons.

Baba and others were commuting on a bus to Kuje when they ran into an ambush set up by the gunmen, who abducted all the occupants before vanishing through the bush path.

It was gathered that the abducted persons were returning to Kuje after going to congratulate the new Education Secretary of the council,

Mr. Yunusa Zakari, when the incident occurred.

The Chairman of Pegi Community Development Association (PECDA), Taiwo Aderibigbe, also confirmed the incident last night, saying the identities of the other victims abducted with Baba could not be ascertained.

Meanwhile, the FCT Minister of State, Dr. Ramatu Tijjani, has condemned in strong terms the abductions of the former vice chairman of Kuje Area Council alongside some members of the council’s legislative arm by gunmen

suspected to be kidnappers.

Tijjani, who described the incident as unfortunate and heinous, however, regretted that the cases of abductions have become some rampant especially in Kuje Area Council of the Territory.

While assuring the area that the FCT Administration would take drastic measures to address the situation, she also appealed to the residents to remain calm as efforts are in place to recover all the kidnapped victims.

Private Sector Involvement in Agriculture Essential, Says FAO Michael Olugbode in Maiduguri The Food and Agricultural Organisation of the United Nations (FAO) has said the surest route for Nigeria to reach its full potential in agriculture is for the private sector to get more involved Speaking to journalists in Maiduguri, Borno State, at the weekend during the assessment of FAO interventions in the state, the new Country Representative of the UN agency, Fred Kafeero, said Nigeria has great potential

in agriculture but need the involvement of all stakeholders to achieve this.

Kafeero said: “Nigeria is a very important agricultural country. When you talk about agricultural potential, you are talking about the potential in several sub-sectors of agriculture.

“These include fisheries, as the country has both freshwater and the sea waterall these are fishery resources that could be fully harnessed and exported.

“What about the livestock sector? Nigeria has the largest herd of livestock in the Northeast sub-region.

“It has vast fertile arable land, with which various crops could be produced and processed to add more value to the system.

“When you talk of forestry resources, which are part of agriculture, Nigeria has all that.

The point is how can we mobilise each and every stakeholder to support the government in this respect?”

He noted that the government alone cannot do all the harnessing and development of the agricultural, forestry and livestock resources.

“The role of the private sector has to be incorporated in the development of agricultural and livestock resources,” Kafeero said.

He noted that the government can set the enabling environment for all of them to operate, stressing that the drivers of agriculture are the Organised Private

APC Welcomes SARS Disbandment, Calls for Swift Police Reforms Adedayo Akinwale in Abuja The All Progressives Congress (APC) has described the disbandment of the Special Anti-Robbery Squad (SARS) as a responsive decision and a major step of the President Muhammadu Buhari affirmed resolve to achieve better policing and necessary reforms.

The Deputy National Publicity Secretary of the party, Mr. Yekini Nabena, in a statement yesterday said from the recent #BlackLivesMatter social movement to other global clamours for review of police operations, particularly in regard to citizens they are empowered to protect, the need for police reforms in Nigeria is urgent and

continuous.

He said: “With the benefit of experience and public outcry over the operations of the now disbanded SARS, the APC is confident that the new policing arrangement promised by the Inspector-General of Police (IG), Mohammed Adamu, will balance the need to effectively combat armed robbery, kidnapping and

other violent crimes in the country and ensure humane, professional and accountable police operations.

“We call on Nigerians to take advantage of the Citizens and Strategic Stakeholders’ Forum which is being formed to regularly interface with the police leadership at all levels and advise on police activities as they affect the public.”

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Atiku, Lawan, NHRC Hail Dissolution of SARS Deji Elumoye, Chuks Okocha andAlex EnumahinAbuja Former Vice President Atiku Abubakar; President of the Senate, Dr. Ahmad Lawan, and the National Human Rights Commission (NHRC) have hailed the dissolution of the dreaded Special Anti-Robbery Squad (SARS) of the police force.

In a statement issued yesterday, Lawan saluted the courage of President Muhammadu Buhari for listening to the voice of the Nigerian people over their dissatisfaction with the operations of the SARS. Lawan, in the statement issued yesterday by his Media Adviser,

said with the courageous decision to dissolve the police unit, the President and his government have shown themselves as responsive to the feelings of the people.

“I am applauding the President because it is a demonstration of good leadership to yield to the demand of the populace in difficult situations like this,” he said.

Lawan also commended the Inspector-General of Police, Mohammed Adamu, for the decision and challenged him to come up with measures for the transformation of the Nigeria Police into an effective law enforcement and crime fighting agency that is also a true and respected friend of the Nigerian people.

The Senate President said the measures should fully address all the issues that earned the dissolved SARS the odium of the Nigerian people, and in particular of the articulate Nigerian youths.

Atiku has also paid tribute to the Nigerian youths for their resilience in exerting pressure on the police authorities to disband the FSARS in response to public agitations to end abuses by the anti-robbery squad.

In a statement by his media adviser, Mr. Paul Ibe, the former

vice president said, “this was the right thing to do. A system that brutally eliminates our youths is not one to hold on to, and neither can we be proud of it.

Now we can start on a clean sheet to envision an elite police unit similar to the SWAT and a comprehensive overhaul of the police and policing system that peoples-focused”.

According to Atiku, the will of the people is the bulwark of the democratic system and those in authority cannot ignore the will of

the people without undermining democracy itself.

The Wazirin Adamawa however noted that redeploying the bad eggs in SARS to other units may not augur well as they are capable of polluting those units.

NHRC also yesterday commended the federal government for what it described as, “the courage and display of mark of a listening Government through the disbandment of SARS” by the Inspector General of a Police, Mr. Mohammed

Adamu.

The commission in a statement issued yesterday by the Executive Secretary, Mr. Tony Ojukwu, noted that in line with its mandate of promoting, protecting and enforcing human rights in Nigeria, it has been monitoring reports from individual victims and the media with respect to human rights violation of innocent members of the public by operatives of the Special Anti-Robbery Squad (SARS) as well as other police units across the country.

Air Peace Takes Delivery of another ERJ-145 Aircraft Chinedu Eze Nigeria’s leading carrier, Air Peace, has taken delivery of another ERJ-145 aircraft to help boost its domestic and regional operations.

The airline, which has completed its preparation to receive its two brand new aircraft E195-E2 from Brazil-based Embraer, said the latest ERJ-145 would bring the number to eight the 50-passenger-seater aircraft in its fleet.

The aircraft, with registration number: 5N-BXF, arrived at the Murtala Muhammed International Airport Lagos late last Saturday night.

Disclosing this to journalists, spokesperson of the airline, Stanley Olisa, said the new arrival is a 50-seater aircraft, which would add to the service of the airline, as passenger traffic continues to grow after the COVID-19 lockdown.

“We are very glad to announce the arrival of our eighth Embraer 145 Jet, another addition to the fleet of our subsidiary, Air Peace Hopper,” he stated.

Olisa reiterated the airline’s commitment to ease the burden of traveling in Nigeria and beyond, disclosing that Air Peace now boasts of 26 aircraft in its fleet.

According to him, ‘’We’re also gearing up to receive two brand new 124-seat capacity Embraer 195-E2 Jets this month (October), the first set of the 13 we had ordered, with purchase rights for 17 more.”

Olisa reiterated Air Peace’s ambition to interconnect various cities in the country, calling on the flying public to expect more domestic and international destinations to be launched soon, which would include Johannesburg, London, Houston, Guangzhou, Mumbai and others.

Fatal Car Accident Claims Seven Lives in Benue George Okoh In Makurdi A fatal car accident in Gbaste town in Ushongu Local Government Area of Benue State has claimed seven lives.

According to a resident of the area, the accident occurred last Saturday evening when a truck lost its bearing and ran into a stationary salon car crushing the occupant to death It was gathered that those who died in the accident included two lecturers from the University of Mkar, two children and three others.

According to eyewitnesses, the accident happened when a trailer ran into a stationary Toyota Camry car with registration number MKD-300-NH crushing seven occupants of the car to death.

It was further gathered that the driver of the truck had a fairly used car aboard and was about dodging a police check-point when he rammed into the waiting car killing almost all the occupants in it.

It took several hours and the combined efforts of the police, officials of Federal Road Safety Commission (FRSC) and other spirited individuals to evacuate the dead whose bodies were trapped under the truck.

Chairman of Ushongo LGA, Hon. Asawa Joseph, was said

to have cut short his engagement at a reception in Makurdi to rush to the scene of the accident, where he directed that the bodies of the victims be deposited at Ostra Gum’s hospital at Ushongo town.

A search on some documents recovered from the scene of the accident identified two lecturers from the University of Mkar, Mr. Leva Joshua of Mass Communication Department, and Moses Tarnongo as victims of the accident.

When contacted, the Sector Commander of FRSC in the state, Aliyu Baba, who confirmed the accident, said seven people were killed, one person injured while four others escaped without any physical injury.

He, however, blamed the unfortunate accident on over speeding on the part of the truck driver.

Meanwhile the state Governor, Samuel Ortom, in a message delivered in a statement signed by his Media Aide, Terver Akase, sent heartfelt condolences to families of those who lost their lives in the accident.

The governor’s sympathies also go to the management, staff and students of the University of Mkar, who lost two of their lecturers in the accident, Joseph Leva and Moses Tarnongo, who died alongside with his wife and three children.

SEEKING ALTERNATIVE REVENUE SOURCES...

L-R: Permanent Secretary, Ministry of Mines and Steel Development, Mrs. Oluwatoyin Akinlade; Minister of Mines and Steel Development, Mr. Olamilekan Adegbite; and President, Mining Association of Nigeria, Mr. Muhammed Kankara, during a press briefing on the coming Nigeria Mining Week in Abuja…recently KINGSLEY ADEBOYE

Buhari Loses 100,000 to Omokri’s #UnFollowBuhari Campaign President Muhammadu Buhari has lost 100,000 Twitter followers in just three hours as bestselling author, Reno Omokri, started a hash tag, #UnfollowBuhari in Twitter.

At exactly 5 p.m. last Friday, Omokri had tweeted via his verified Twitter handle as follows: “If we all mean business with

this #EndSARS movement, let us send a strong message to General @MBuhari. He has 3.5 million followers.

“If we all stop following him and he sees his Twitter following drop by one million, he will sit up. Who is with me? Let’s go there!”

As at that time, President

Buhari had 3.5 million followers. Three hours after Omokri’s post, Buhari’s followers dropped to 3.4 million with indications to lose more followers.

Announcing the breakthrough at the weekend, Omokri, also known as #BuhariTormentor, tweeted as follows: “Dear

Nigerians, when I started the #UnfollowBuhari campaign as part of my #EndSARS protest, some laughed.

“In just one hour, we have reduced Buhari’s followers by 100,000. Never underestimate your influence. When Nigerians wake up, the government will be afraid of us!”

Military Rescues 26 KidnappedVictims, Kill Bandits in N’west Region Francis Sardauna in Katsina Troops of Operation Sahel Sanity, the anti-banditry operation of the Nigerian Army, have rescued 26 kidnapped victims and neutralised many bandits in the North-west region of the country in its determination to eradicate banditry and other nefarious activities afflicting the zone.

The acting Director of Defence Media Operations, Brig. General Benard Onyeuko, in a statement made available to journalists yesterday at the Special Army Super Camp IV in Faskari, Katsina State, said the captives

were rescued in Katsina, Zamfara and Kebbi States after intensified military operations.

According to him, “On October 6, 2020, troops deployed in Forward Operation Base Magami, while responding to a distressed call, rescued 23 kidnapped victims from fleeing bandits who abandoned the captives as the unrelenting troops were closing in on their hideout on Zauni-Jengebe road in Gusau Local Government Area of Zamfara State.

“Preliminary investigation revealed that the victims were kidnapped while on transit to

Magami market from Gusau on a passenger bus. All the rescued victims were reunited with their families while efforts are still being intensified to track the criminal gang members.”

He added that the troops while on combined aggressive clearance operation to identified bandits’ enclaves at Dankar, Kandawa, Yau yau, Hayin Yau yau, Bugaje, Zandam, Kwari Mai Zurfi, Yar Gamji, Bukuru and Jibiyawa villages of Batsari and Jbia LGAs of Katsina State, also neutralised three bandits and left many others

with varying degrees of injuries.

Onyeuko said the soldiers captured one AK-47 magazine loaded with 25 rounds of 7.62mm special ammunition and Dane gun belonging to the fleeing hoodlums during the encounter, and destroyed eight bandits’ hideouts in the area.

He stated that the anti-banditry troops acting on credible intelligence also apprehended four suspected bandits, including their leader, Mujitafa Shehu, at Kankara and Tudu villages of Kankara LGA of Katsina State.

Corporate Governance Society to Hold 2020 Annual Conference Thursday The Society for Corporate Governance Nigeria as part of its commitment to the development of corporate governance in Nigeria will hold its 2020 Annual Corporate Governance Conference.

The conference is scheduled to take place virtually on Thursday, October 15, 2020 by 11a.m. under the chairmanship of Mr. Muhammad Ahmad.

According to the President/ Chairman of the Board of The Society for Corporate Governance Nigeria, Mr Muhammad Ahmad, the theme of the 2020 Annual Corporate Governance is

“Corporate Governance in the Age of Digital Transformation”.

Ahmad added that the conference would be streamed live to viewers all over the globe.

This year’s annual conference is intended to foster discussions among key corporate governance experts who will address the issues and challenges of corporate governance in Nigeria and suggest ways for the sustenance of principles of corporate governance in the wake of technology disruptions and digital transformations.

The keynote speaker at

the conference is Dr. Evans, E. Woherem, Chairman, ChamsAccess Ltd, while the discussants include Mrs. Ndidi O. Nwuneli, Managing Partner, Sahel Consulting; Mr. Chinenye Mba-Uzokwu, Managing Director/CEO, InfoGraphics Nigeria Ltd and Mrs. Nkedilim Uwaje Begho, CEO, Future Software Resources Ltd (Futuresoft).

During the conference, the Society shall be unveiling some new publications such as: “22nd Edition of the Journal of Corporate Governance” to be presented by Professor

Chris Ogbechie; “Corporate Governance & Sustainability Reporting: A Review of the Top 30 Most Capitalized Companies on the NSE” with a foreword

by Mr. M.K. Ahmed to be presented by Mr. Ibrahim Dikko; and “Corporate Governance Regulatory Compliance in Nigeria: The Regulator, The Regulation and the Regulated” with a foreword by Mrs Ozofu Ogiemudia, Chairperson of the Technical Advisory Committee set up by the office of the senate president to advise on the CAMA Bill, to be presented by Professor Fabian Ajogwu, SAN

Ëœ ͸ ͸ ÍšÍşËœ ͺ͸ͺ͸ Ëž T H I S D AY

55

MONDAYSPORTS

A ‘Friendly’ Virus

W

ith the global pandemic yet to loosen its grip on the populace and the numbers surging again in what seems to be a second wave of infections, life has not really returned to normal as we have always known it. Sports has tried to continue with some form of activities in many areas across the world with the athletes competing inside a bubble and fans banned from stadia. This artificial control is a way to control spread of infections. However it must be said that these measures are not fool proof.

The Asian Football Confederation revealed that five players from Saudi Arabia’s Al Hilal and another from Qatar’s Al Duhail were found with the virus following tests on all teams taking part in the western region of the AFC championship tournament.

A Scottish FA statement confirmed that Stuart Armstrong test returned a positive result as they prepared for an international match. While all other members of the squad returned negative results, teammates Kieren Tierney and Ryan Christie - plus one physiotherapist

and one masseur - were all deemed to have come in close contact with Armstrong and were told to self-isolate for 10 days.

Recently, Ukraine was forced into an emergency selection after the virus affected several members of their list.

The European nation were forced to select 45-yearold Assistant Coach, Oleksandr Shovkovskiy, in their squad for the 7-1 thrashing against France after Covid-19 tore through the team.

Switzerland star, Xherdan Shaqiri, tested positive on national team duty and is out, the third Liverpool player to become infected.

Two members of Italy’s under-21 national team tested positive. Poland’s manager is positive.

An England-Scotland Under-19 friendly had to be abandoned at halftime when a coach tested positive.

A few weeks ago, local health authorities blocked Napoli from travelling to Turin to play Juventus due to a possible Covid-19 outbreak after two players, Piotr Zielinski and Eljif Elmas, tested positive. It was billed as one of the biggest clashes of the season and there is uncertainty about what will be the outcome of that decision.

Napoli had played Genoa earlier with the players of the later team having 17 people test positive for Covid-19. Not surprisingly, their next game against Torino has been postponed.

In Brazil, 16 Flamengo

Naby Keita‌fifth Liverpool player to test positive for Covid-19 players have tested positive.

Superstars Neymar and Kylian Mbappe missed a few games because they were infected, as did several Paris Saint-Germain teammates. West Ham United manager David Moyes was banished for several Premier League games to quarantine.

Leander Schaerlaeckens,

writing for Yahoo Sports says, “Clubs, and the FIFPro (players union), had understandable misgivings about releasing their players to the national teams for mere friendlies or South America’s needlessly long World Cup qualifying double round-robin — a bountiful source of income for its national federations but a slog for everyone involved. Many players will become infected as bubbles mix and circles intersect.

The argument has been made that players traveling for national team duty is not substantially different from clubs traveling continentally for competitions. But it is. Clubs form tight circles that have mostly kept out infections by testing and quarantining members who test positive. Their only real exposure comes at the hands of their opponents.

But players going off to their respective national teams scramble all of that, creating extended exposure to members of other pods.

International soccer, even when played without fans, could quickly turn into a traveling super-spreader circus.�

It is even more worrisome that a lot of Nations, including Nigeria has

sanctioned meaningless international friendlies during this pandemic.

With the burden of players already heavy with jam packed fixture list, short season, continental championships at the end of the season and the psychological trauma of the virus, it is surprising that players are not given the opportunity to rest when there is one.

The increase in matches, especially international ones where travel by players is on individual basis increases the risk of virus spread and also more infection of players.

A lot of European Teams are very well organized and create a very secure bubble in which players and officials have no contact with the outside world, but can the same be said of other countries?

Especially in Africa and Asia or South America?

Even these European countries are not fool proof.

There was a reported case of Covid-19 protocol breach in the England camp last month with two of their most promising players

dismissed from the team for failing to strictly obey the protocols. If that happened in Nigeria, would we expect the same kind of transparency and discipline? Or would we have waved it off with a meaningless vocal censure?

Thereby putting the whole team at risk?

Truth is as long as the virus remains not fully understood, and a cure or vaccine not readily available, there must be strong will to curtail it and even this means making some sacrifices we need to. While we are all eager to watch and play football, or profit from its business, there are some things that remain totally unnecessary and a big risk to humanity at the moment.

And meaningless ‘friendly’ matches I believe sit at the top of the list of those things.

* EneďŹ ok is an author, Speaker, administrator, Life coach, businessman and Nigeria’s ONLY Male two Time Olympic Medalist

Nadal Wins 13th French Open, Equals Federer’s Slam Record Rafael Nadal demolished Novak Djokovic 6-0, 6-2, 7-5 to win his 13th French Open and equal Roger Federer’s all-time record of 20 Grand Slam titles on Sunday.

For world number one Djokovic, the defeat ended his hopes of an 18th Slam and of becoming the first man since Rod Laver in 1969 to win all four majors twice.

Nadal, 34, claimed his 100th match win at Roland Garros against just two defeats since his 2005 debut.

The Spaniard, the oldest champion in Paris since Andres Gimeno in 1972, claimed the

title without dropping a set.

He finished the one-sided affair with just 14 unforced errors to his opponent’s 52. “Congrats to Novak for another great tournament. Sorry for today. We’ve played plenty of times together - one day one wins, another the other,� said Nadal. “After all the things I have been through in my career with injuries, I could not have done it without my family.�\ Nadal said he wasn’t even thinking about matching Federer’s record. “It’s been a very tough year.

Winning here means everything

to me so it’s not about equalling Roger on 20, for me today it’s just a Roland Garros victory. “Roland Garros means everything to me. I spent most of the most important moments of my tennis career here. “Just playing here is a true inspiration. The love story I have with this court and city is unbelievable.�

The 56th meeting between the world’s top two started under the roof of Court Philippe Chatrier, intensifying the echo of a crowd limited to 1,000 due to the coronavirus pandemic.

Conventional wisdom suggested that would favour

Djokovic but nobody told Nadal who broke three times in the 45-minute opening set.

The Spaniard hit 10 winners and just two unforced errors.

Djokovic’s error count was 13 with the out-of-sorts Serb even squandering three break points of his own in the fourth game.

More worrying for the world number one -- Nadal improved to 111-0 when winning the first set of best-of-five matches on

clay in his career.

It was the first opening set ‘bagel’ in a Roland Garros final since 2004 when Gaston Gaudio recovered to defeat Argentine compatriot Guillermo Coria in five sets.

Djokovic finally got on the board with a service hold in the first game of the second set but Nadal maintained his relentless push, going to a double break for 4-1 as even the Serb’s usual deft touches

on the drop shot deserted him.

Nadal wrapped up a two-set lead with his unforced error count at just six to Djokovic’s 30.

Nadal broke for the sixth time for a 3-2 lead in the third before Djokovic suddenly restored his reputation as the sport’s best returner by carving out his first break of the afternoon for 3-3.

However, there was to be no miracle recovery as a double fault handed Nadal a 6-5 lead and he took the title with an ace.

Hamilton Equals Schumacher’s Record With 91st Win Lewis Hamilton on Sunday equalled the all-time record for career Formula 1 victories by winning the Eifel Grand Prix.

The Mercedes driver’s win was the 91st of his career and he will surely break Michael Schumacher’s record soon.

Hamilton extended his championship lead over team-mate Valtteri Bottas to 69 points after the Finn retired.

Behind Max Verstappen’s Red Bull in second, Daniel Ricciardo scored Renault’s first podium since returning to F1 as a constructor in 2016.

The race had been poised for a close fight between Hamilton and Bottas before the second Mercedes hit trouble.

Hamilton, starting second, made a better start than Bottas and dived for the inside at the first corner, pushing him wide, but Bottas held his ground and recovered the lead on the inside of the second corner.

That gave Bottas control of the race, but Hamilton pressured him hard and in

the end the leader buckled.

Bottas handed the advantage back to Hamilton on lap 13, locking a wheel into Turn One and running wide, allowing Hamilton to close in and pass for the lead around the outside of Turn Two. Three laps later, the race fell further into Hamilton’s lap when a virtual safety car allowed him and Verstappen to pit for fresh tyres and retain their positions ahead of Bottas,

and two laps after that Bottas retired with a suspected failure of the MGU-H, part of the hybrid system.

Although Verstappen stole the point for fastest lap from Hamilton on the last lap of the race, Hamilton’s lead is close to three clear race victories with only six races remaining. A seventh world title - which would equal another Schumacher record - is beckoning.

Lewis Hamilton...equals Michael Schumacher’s F1 record

Rafael Nadal celebrating his 13th French Open title at Roland Garros...yesterday

Nations League: England Beat Belgium to Lead Group Mason Mount scored a deflected winner as England came from behind on Sunday to beat Belgium 2-1 in the UEFA Nations League.

Romelu Lukaku netted a penalty as the world’s top-ranked team dominated the first half at Wembley.

But after Marcus Rashford fired home his own penalty before the break, England improved and got their reward as Mount’s curler looped off Toby Alderweireld into the net.

England now sit top of League

A Group 2 before they host Denmark on Wednesday.

Elsewhere, Wales remain unbeaten in the Nations League after they were held to a lifeless goalless draw away against the Republic of Ireland.

The main talking point of an uninspiring first half was a rejected penalty appeal for Wales after Ethan Ampadu was bundled over by Republic goalkeeper Darren Randolph.

It was not until the 55th minute that either team produced a genuine chance, with the

Republic’s Shane Long wastefully heading over from close range.

James McClean was sent off for the hosts after two yellow cards in quick succession towards the end of the game and, although Wales searched hopefully for a late winning goal, neither side really deserved to win an eminently forgettable encounter.

Having won both their first two matches of this Nations League campaign, Wales remain top of Group B4 with a trip to Bulgaria to come on Wednesday.

Monday October 12, 2020

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MISSILE

Amnesty International to Police

“The announcement by the IG disbanding the infamous SARS falls short of demands for accountability and justice for abuses committed by the unit and the police in general.� – Amnesty International challenging the police to support the disbandment of SARS with addressing the underlying issues that allowed impunity to thrive.

AKINOSUNTOKUN DIALOGUE WITH NIGERIA

akin.osuntokun@thisdaylive.com

The Message from Adeboye S

everal weeks ago, I anticipated the concerns of Pastor Enoch Adeboye with this conclusion: “I have decided to broach the advocacy of restructuring this time around on account of the apparent foreclosure of any meaningful constitutional review by the status quo powers and the increasing perception of such foreclosure as the abrogation of the middle ground.

In consequence, hope and belief in restructuring is being gradually eroded and supplanted by recourse to the option of outright self determination�.

Adeboye inhabits and straddles the complex and contradictory world of faith and science, mathematics, to be precise. He was colleagues with another pentecostal church giant, Pastor Williams Kumuyi of the Deeper Life Christian missionaries, at the department of mathematics, University of Lagos, where they both served as assistant professors, before shedding the academic gown for the pastor’s cassock in the early seventies. So was Dr. D. K. Olukoya (of the sprawling and expansive Mountain of Fire and Miracles) a lecturer at the Faculty of Science, University of Lagos when he heard the call to become a minister in God’s vineyard. Given that ‘faith is the assurance of things hoped for, the conviction of things not seen’; and ÂœÂŒÂ’ÂŽÂ—ÂŒÂŽČąÂ˜Â—ČąÂ?Â‘ÂŽČąÂ˜Â?‘Ž›ȹ‘Š—Â?ČąÂ™ÂŽÂ›ÂœÂ˜Â—Â’Ä™ÂŽÂœČąÂ?‘Žȹ Œž•Â?ÂžÂ›ÂŽČąÂ˜Â?ȹ™›ŽÂ?’ŒŠÂ?’—Â?ȹ‹Ž•’ŽÂ?ČąÂ˜Â—ČąÂ&#x;Ž›’ꊋ•Žǰȹ empirical, provable, explanatory and replicable knowledge, both traditions have ÂŒÂ˜ÂŽÂĄÂ’ÂœÂ?ÂŽÂ?Čą ’—ȹ Œ˜—Ě’ŒÂ?Čą Š—Â?Čą Œ˜—Â?›ŠÂ?Â’ÂŒÂ?Â’Â˜Â—Čą over the ages. You would then wonder at the proclivity and predisposition of these scientists towards ‘spiritual conviction rather than proof’. To begin to make sense ˜Â?ČąÂ?‘Žȹ›’Â?Â?Â•ÂŽČąÂ˜Â?ČąÂ?Â‘ÂŽČąÂŒÂ˜Â—ÄšÂ’ÂŒÂ?ȹ‹ŽÂ? ŽŽ—ȹÂ?‘Žȹ ÂœÂŽÂŒÂžÂ•ÂŠÂ›ČąÂœÂŒÂ’ÂŽÂ—Â?Â’Ä™ÂŒČąÂ?›ŠÂ?Â’Â?Â’Â˜Â—ČąÂŠÂ—Â?ȹ›Ž•’Â?Â’Â˜ÂžÂœČą faith, the archetype progenitor of Judeo ‘›’œÂ?Â’ÂŠÂ—ČąÂŒÂ’Â&#x;’•’œŠÂ?Â’Â˜Â—Ç°Čą ÂŽÂœÂžÂœČą ‘›’œÂ?Ç°ČąÂŒÂ•ÂŠÂ›Â’Ä™ÂŽÂ?Čą that ‘give unto God, what is God’s and give unto Ceaser what is Caesar’s’. The applicability of this scriptural injunction is that the secular dispensation, inclusive ˜Â?Čą Â?‘Žȹ œŒ’Ž—Â?Â’Ä™ÂŒČą Â?›ŠÂ?Â’Â?Â’Â˜Â—Ç°Čą —ŽŽÂ?Čą —˜Â?Čą ‹Žȹ ’—ȹ Œ˜—Ě’ŒÂ?Čą  ’Â?‘ȹ Â?Š’Â?Â‘ČŹÂ‹ÂŠÂœÂŽÂ?Čą ‘›’œÂ?’Š—’Â?¢ȹ even if they are mutually exclusive. The rightness of one does not presuppose the wrongness of the other. It is not a zero sum equation. Yet, both callings speak and ™˜—Â?’ęŒŠÂ?Žȹ ’Â?‘ȹŠžÂ?‘˜›’Â?Â˘Ç°ČąÂŒÂŽÂ›Â?Š’—Â?¢ȹŠ—Â?Čą certitude. The word of God is immutable Š—Â?ČąÂœÂ˜ČąÂ?Â˜ÂŽÂœČąÂ?Â‘ÂŽČąÂœÂŒÂ’ÂŽÂ—Â?Â’Ä™ÂŒČąÂŽÂšÂžÂŠÂ?Â’Â˜Â—ČąÂ˜Â?ČąÂ?Â Â˜Čą plus two equals four remain eternally true.

In Adeboye, the two cultures are twinned Š—Â?ȹę—Â?ȹŠȹÂ?›ŽŠÂ?ČąÂŽÂĄÂ™Â˜Â—ÂŽÂ—Â?ÇŻČą Â‘Â’ÂœČąÂ–ÂžÂŒÂ‘Ç°ČąÂ‘ÂŽČą brought to bear in his quaint mathematical exposition and understanding of the peculiar political conundrum confronting Nigeria at the 60th Independence Day celebration ÂœÂ˘Â–Â™Â˜ÂœÂ’ÂžÂ–ČąÂŒÂ˜ČŹÂ˜Â›Â?Š—’œŽÂ?ȹ‹¢ȹÂ?‘Žȹ ÂŽÂ?ŽŽ–ŽÂ?Čą Christian Church of God and the Nehemiah ŽŠÂ?ÂŽÂ›ÂœÂ‘Â’Â™Čą —œÂ?Â’Â?žÂ?ÂŽÇŻČą ˜—Â?’ęŒŠÂ?ÂŽÂœČą Â?ÂŽÂ‹Â˜Â˘ÂŽČą “in Mathematics if you want to solve a Â™Â›Â˜Â‹Â•ÂŽÂ–Ç°ČąÂ˘Â˜ÂžČąÂ?›¢ȹ ‘ŠÂ?ČąÂ ÂŽČąÂŒÂŠÂ•Â•Čą ŽŠ•ȹ Â—ÂŠÂ•Â˘ÂœÂ’ÂœÇ°Čą then if it doesn’t work, then you move on to Complex Analysis and see whether that will help you. If that fails, you move on to Vector Analysis and so onâ€?. Just like the

Adeboye ÂŒÂŠÂžÂœÂŽČąÂŠÂ—Â?ČąÂŽÄ›ÂŽÂŒÂ?ȹ›Ž•ŠÂ?Â’Â˜Â—ÂœÂ‘Â’Â™ČąÂ‹ÂŽÂ? ŽŽ—ȹÂ?‘Žȹ theory of relativity and the atomic bomb is no longer up for debate; the revelation knowledge that comes from whoever is deemed an authentic mouthpiece of God cannot be contradicted. To do so amounts to the repudiation of belief in the existence and supernatural power of God who speaks through his prophets and ministers. As mathematician and prophet, it is on the power of these two unassailable platforms that Adeboye stood to pronounce the dire prognosis he recently gave on Nigeria. He was delivering a value free conclusion in the best tradition of the intellectual who pursues the truth to its logical conclusion regardless of the path it takes. In the spirit of intellectual engagement softened with •’Â?‘Â?ȏ‘ŽŠ›Â?ÂŽÂ?ȹ‹Š—Â?Ž›ǰȹ Â?ÂŽÂ‹Â˜Â˘ÂŽČąÂ—Â˜Â?ÂŽÂ?ÇąČąČƒ ÂŽČą all know that we must restructure. It is either we restructure or we break, you don’t have to be a prophet to know that one. That is certain – restructure or we break up. “Now, we don’t want to break up, God forbid. Some people feel that all our problems will be over if Nigeria should break up. I think that is trying to solve the problems of Nigeria as if it is a Simple Equation. The problems of Nigeria will require quite a bit of Simultaneous Equation and some of them are not going to be Linear either – forgive me I am talking as a Mathematicianâ€?.

Coming on top of similar strictures from the preeminent ranks of former President Olusegun Obasanjo, Professor Wole Soyinka, the Northern Elders Forum and Southern and Middle Belt Leaders Forum, the Muhammadu Buhari Presidency was duly spooked hence the recourse to the characteristic blind and abtruse response. In typical poorly thought through and appalling rendition, the presidency ™žœ‘ŽÂ?ČąÂ‹ÂŠÂŒÂ”ČŹČą ž‘Š›’ȹ Â?–’—’œÂ?›ŠÂ?Â’Â˜Â—Čą ’••ȹ Not Succumb To Threats And Undue Pressure “The Presidency responds to the recurring threats to the corporate existence of the country with factions Â?Â’Â&#x;’—Â?ČąÂœÂ™ÂŽÂŒÂ’Ä™ÂŒČąÂ?Â’Â–ÂŽÂ•Â’Â—ÂŽÂœČąÂ?Â˜Â›ČąÂ?Â‘ÂŽČąÂ™Â›ÂŽÂœÂ’Â?Ž—Â?Čą

to do one thing or another or else, in their •Š—Â?žŠÂ?ÂŽÇ°ČąČƒÂ?‘Žȹ—ŠÂ?Â’Â˜Â—ČąÂ Â’Â•Â•ČąÂ‹Â›ÂŽÂŠÂ”ČŹÂžÂ™ÇŻČą Â‘Â’ÂœČą is to warn that such unpatriotic outbursts are both unhelpful and unwarranted as this government will not succumb to threats and take any decision out of pressure at ŠȹÂ?’–Žȹ ‘Ž—ȹÂ?‘Žȹ—ŠÂ?Â’Â˜Â—Č‚ÂœČąÂ?ž••ȹŠĴŽ—Â?Â’Â˜Â—ČąÂ’ÂœČą needed to deal with the security challenges Â?ŠŒ’—Â?ȹ’Â?ȹŠÂ?ȹŠȹÂ?Â’Â–ÂŽČąÂ˜Â?ČąÂ?‘Žȹ ˜Â&#x;Â’Â?ČŹĹ—Ĺ&#x;ȹ‘ŽŠ•Â?‘ȹ ÂŒÂ›Â’ÂœÂ’ÂœÇŻČą Ž™ŽŠÂ?ǹȹÂ?Â‘Â’ÂœČąÂŠÂ?–’—’œÂ?›ŠÂ?Â’Â˜Â—ČąÂ Â’Â•Â•ČąÂ—Â˜Â?Čą take any decision against the interests of 200 million Nigerians, who are the ™›Žœ’Â?Ž—Â?Č‚ÂœČą ꛜÂ?Čą ›Žœ™˜—œ’‹’•’Â?¢ȹ ž—Â?Ž›ȹ the constitution, out of fear or threats especially in this hour of health crisis.

The president as an elected leader under this constitution will continue to work with patriotic Nigerians, through and in line with the parliamentary processes to ę—Â?’—Â?ČąÂœÂ˜Â•ÂžÂ?Â’Â˜Â—ÂœČąÂ?Â˜ČąÂœÂ?›žŒÂ?ž›Š•ȹŠ—Â?ČąÂ˜Â?‘Ž›ȹ impediments to the growth and wellbeing of the nation and its people.â€?

I have recalled the response at length in order to extrapolate from its quality, the poverty of the mind from which it was issued and the consequences of such incapacity for Nigeria going forward. At the eminently symbolic threshold of the golden jubilee anniversary of Nigeria’s independence, the tragic irony is having as president the most divisive, intellectually challenged and unenlightened occupant of Â?‘ŠÂ?ȹ‘’Â?Â‘ČąÂ˜ÄœÂŒÂŽÇŻČą Â‘Â’Â•ÂŽČąÂŠÂŒÂŒÂžÂœÂ’Â—Â?ČąÂ˜Â?Â‘ÂŽÂ›ÂœČąÂ˜Â?Čą posing ‘recurring threats to the corporate existence of the country, unpatriotic outbursts, dividing the nation while President Muhammadu Buhari continues to promote nation building and the unity of Nigeria’; and within one week of the ’–™˜›Â?Š—Â?Čą ÂŒÂ?Â˜Â‹ÂŽÂ›Čą Ĺ—ÂœÂ?Čą Ĺ˜Ĺ–Ĺ˜Ĺ–Čą —ŠÂ?Â’Â˜Â—ÂŠÂ•Čą milestone, President Buhari, once again, Â?›Ž ȹŠĴŽ—Â?Â’Â˜Â—ČąÂ?Â˜ČąÂ?Â‘ÂŽČąÂ’Â—ÂŒÂ˜Â—Â?›ž’Â?¢ȹ‹ŽÂ? ŽŽ—ȹ the aspiration for Nigerian nationhood and a president who has perfected the art of perennially calling that aspiration to question. “Of the total 628 cadet trainees who had resumed at the Bauchi facility as of September 23, 535 trainees joined the œŽ›Â&#x;Â’ÂŒÂŽČąÂ?Â›Â˜Â–ČąÂŽÂ’Â?‘Ž›ȹÂ?‘Žȹ ˜›Â?Â‘ČŹÂŽÂŠÂœÂ?ČąÂ˜Â›ČąÂ?‘Žȹ ˜›Â?Â‘ČŹÂ ÂŽÂœÂ?ÇŻČą —•¢ȹĹ&#x;řȹ Ž›ŽȹÂ?Â›Â˜Â–ČąÂŽÂ’Â?‘Ž›ȹÂ?‘Žȹ ˜žÂ?Â‘ČŹÂŽÂŠÂœÂ?Ç°Čą ˜žÂ?Â‘ČŹÂœÂ˜ÂžÂ?‘ǰȹ ˜žÂ?Â‘ČŹÂ ÂŽÂœÂ?Čą Â˜Â›Čą ˜›Â?Â‘ČŹÂŒÂŽÂ—Â?›Š•Ȅǯȹ —Â?ČąČƒ Â‘Â’Â•ÂŽČąÂœÂ™ÂŽÂŠÂ”Â’Â—Â?ČąÂ˜Â—Čą behalf of aggrieved senators, the Senate Minority Leader, Enyinnaya Abaribe, said Â?‘ŠÂ?Čą –Š›ǰȹÂ?Â›Â˜Â–ČąÂ?‘Žȹ ˜›Â?Â‘ČŹÂŽÂŠÂœÂ?Ç°ČąÂœÂ‘Â˜ÂžÂ•Â?Čą not have replaced, the former DG, Mrs Â‘Â’Â—ÂŽÂ•Â˜Čą Â—Â˜Â‘ÂžČŹ Â–ÂŠÂŁÂžÇ°ČąÂ Â‘Â˜ČąÂ’ÂœČąÂ?Â›Â˜Â–ČąÂ?‘Žȹ ˜žÂ?Â‘ČŹÂŽÂŠÂœÂ?ÇŻČą ÂŽČąÂœÂŠÂ’Â?Čą ÂžÂ‘ÂŠÂ›Â’Č‚ÂœČąÂŠÂŒÂ?Â’Â˜Â—ČąÂ ÂŠÂœČąÂŠČą ̊Â?›Š—Â?ČąÂ‹Â›ÂŽÂŠÂŒÂ‘ČąÂ˜Â?ČąÂ?‘Žȹ ÂŒÂ?ČąÂ?‘ŠÂ?ČąÂŽÂœÂ?Š‹•’œ‘ŽÂ?Čą Â?‘Žȹ Ž— Â˜Â–Č„ÇŻČąČƒ ÂŽÂŒÂ?Â’Â˜Â—ČąĹ˜Ĺ–ÇťĹ—ÇźČąÂŠÂ—Â?ČąÂœÂŽÂŒÂ?Â’Â˜Â—Čą Ĺ˜Ĺ—ÇťĹ—ÇźČą Š—Â?Čą ÇťĹ˜ÇźČą ˜Â?Čą Â?‘Žȹ ŠÂ?Â’Â˜Â—ÂŠÂ•Čą ÂŽÂ—ÂœÂ’Â˜Â—Čą Â˜Â–Â–Â’ÂœÂœÂ’Â˜Â—Čą ÂŒÂ?Čą Ĺ˜Ĺ–Ĺ—ĹšÇ°Čą ÂœÂ?ŠÂ?ÂŽÂœÇ°Čą Čƒ —ȹ Â?‘Žȹ event of a vacancy, the President shall appoint a replacement from the geopolitical zone of the immediate past member that Â&#x;ŠŒŠÂ?ÂŽÂ?ČąÂ˜ÄœÂŒÂŽČąÂ?Â˜ČąÂŒÂ˜Â–Â™Â•ÂŽÂ?ÂŽČąÂ?‘Žȹ›Ž–Š’—’—Â?Čą tenure.â€? And in tandem, the Nigerian Customs carried out an exercise in which in the following appointees were next in hierarchy to Comptroller General Hameed Ali, Abdullahi Babani, Mohammed Boyi (Deputy Comptroller Generals); Saidu Galadima, SM Modibbo, Uba Mohammed,

Hamza Gummi, Usman Dakingari (Assistant Comptroller Generals).

Before now and in exasperation, Colonel Dangiwa Umar had lamented “One of the swiftest ways of destroying a Kingdom is to give preference of one particular tribe over another or show favor to one group of people rather than another. And to draw near those who should be kept away and keep away those who should be drawn near� (quoting Sheikh Usman Dan Fodio). “All those who wish you and the country well must mince no words in warning you that Nigeria has become dangerously polarised and risk sliding into crisis on account of your administration’s lopsided appointments which continues to give undue preference to some sections of the country over others.

Nowhere is this more glaring than in the leadership cadre of our security services.

Mr. President, I regret that there are no kind or gentle words to tell you that your œ”Ž ŽÂ?ČąÂŠÂ™Â™Â˜Â’Â—Â?–Ž—Â?ÂœČąÂ’Â—Â?Â˜ČąÂ?Â‘ÂŽČąÂ˜ÄœÂŒÂŽÂœČąÂ˜Â?Čą the federal government, favouring some and frustrating others, shall bring ruin and destruction to this nationâ€?. In a grave indication of the nature of the mind of this government, it has taken to reducing such admonitions to the theory of envy “With so much to show and many more Œ˜–’—Â?Ç°ČąÂ™Â›ÂŽÂŽÂ—ÂœČą ž‘Š›’ǰȹ’Â?ČąÂ’ÂœČąÂ•Â’Ä´Â•ÂŽČąÂœÂžÂ›Â™Â›Â’ÂœÂŽČą that President Buhari would be the object of envy and harsh unfair challenges by politicians who failed to deliver, but continue to nurse ambitions of delighting the audience long after their curtain has been drawnâ€?.

The fact that this government conceives itself as worthy of envy is an evidence of the magnitude of the governance crisis ‹ŽœŽĴ’—Â?Čą Â’Â?Ž›’Šǯȹ Â‘Â’ÂœČąÂ’ÂœČąÂŠČą ›Žœ’Â?Ž—Â?ČąÂ Â‘Â˜ÂœÂŽČą record of achievements include taking Nigeria to the pedestal of the poverty capital of the world, of number fourteen on the failed states index amongst other atrocious indications.

As evidence of this enviable status here is the latest testimony from the British house of lords “We write to highlight urgent concerns about escalating violence ’—ȹ Â’Â?Ž›’Šȹ  ‘Ž›Žȹ ÂŠÄ´ÂŠÂŒÂ”ÂœČą •ŽÂ?Čą ‹¢ȹ Â˜Â”Â˜Čą Haram, Fulani herders and other Islamic –’•’Â?Â’ÂŠČąÂŒÂ˜Â—Â?’—žŽȹ’—ȹ ˜›Â?‘Ž›—ȹŠ—Â?ČąÂŒÂŽÂ—Â?›Š•ȏ‹Ž•Â?Čą states with reports of increasing violence ’—ȹ Â?‘Žȹ ˜žÂ?Â‘ČŹÂŽÂŠÂœÂ?ÇŻČą ‘Žȹ Â’Â?Ž›’Š—ȹ Â?Â˜Â›Â–ÂŽÂ›Čą ‘’ŽÂ?ČąÂ˜Â?Čą ›–¢ȹ Â?Šěǰȹ ’ŽžÂ?Ž—Š—Â?Čą Ž—Ž›Š•ȹ Theophilus Danjuma, whom some of us have met and spoken to, says the armed forces are “not neutral, they colludeâ€? in the “ethnic cleansingâ€? by Fulani herders.

He insists that villagers must defend themselves because “depending on the armed forces� will result in them dying� one by one. The ethnic cleansing must stop.

The state’s failure to protect its citizens is a clear breach of its obligations under the commonwealth charter in respect of human rights. There is now an urgent need (a) to ensure adequate protection Š—Â?Čą Š’Â?Čą Â?Â˜Â›Čą Â?Â‘Â˜ÂœÂŽČą œžěŽ›’—Â?Čą Â?‘Žȹ Â•Â˜ÂœÂœČą ˜Â?Čą family members and destruction of their homes and livelihood.â€?

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