MONDAY 25TH NOVEMBER 2019

Appeal Court Moves to Fast-track Hearing of AMCON Cases Declares support for debt recovery drive Alex Enumah in Abuja The Court of Appeal is to establish a special taskforce to facilitate speedy hearing in cases concerning the Asset

Management Corporation of Nigeria (AMCON). It also declared its support for the corporation in its debt recovery drive as well as resolution of troubled assets.

President of the Court of Appeal, Justice Zainab Bulkachuwa, at a seminar in Abuja for justices of the Court of Appeal on the newlyamended AMCON Act 2019,

assured the corporation that measures would be put in place to eliminate any legal technicalities frustrating AMCON's cases at the appellate court.

She said the taskforce would be set up to discourage prolonged litigation under which debtors had hidden to frustrate debt repayments. The seminar was sponsored

by AMCON in conjunction with the Legal Academy. "My Lords, it is compelling to remind you that AMCON Continued on page 9

Analysts: MPC May Retain Interest Rate to Accelerate GDP Growth... Page 8 Monday 25 November, 2019 Vol 24. No 8995. Price: N250

www.thisdaylive.com TR

TODAY'S WEATHER

ABUJA 25°C-33°C

MAIDUGURI 31°C-31°C

UT H

& RE A S O

ENUGU 25°C-28°C

N

KANO 27°C-33°C

LAGOS 24C-27°C

PORT HARCOURT 20°C-30°C

Appeal against $200m Deposit on P&ID Case Not Lost, Says FG Hearing on mode of payment comes up today Alex Enumah in Abuja The federal government yesterday disclaimed a report that it had lost its appeal against the order of a British commercial court directing it to deposit $200 million as security before the court could grant a stay of execution of the $9.6 billion judgment debt awarded in favour of a British Islands firm, Process and Industrial

Developments (P&ID) Limited. Justice Christopher Butcher of the Commercial Court in London had in August awarded the sum of $9.6 billion judgment debt against Nigeria over an alleged botched gas contract between the country and P&ID. However, following Nigeria's appeal against the judgment, Continued on page 9

IPPIS: ASUU Dares FG, Mobilises for Nationwide Strike Tells members to shun enrolment

Our Correspondents

The Academic Staff Union of Universities (ASUU) is set for a showdown with the federal government over the Integrated Payment and Personnel Information System (IPPIS) and has directed its branches to shun the enrolment into the scheme, which commences nationwide today at federal universities, THISDAY investigation has

revealed. The Office of the Accountant General of Federation (OAGF) had directed all staff of federal universities to come with their credentials to their various institutions between November 25 (today) and December 5 for enrolment into IPPIS. The federal government has, however, threatened to stop salaries of workers not Continued on page 9

TIME TO CELEBRATE... L-R: Chief of Staff to the President, Malam Abba Kyari; President of the Senate, Dr. Ahmad Lawan, and Jigawa State Governor, Alhaji Muhammad Abubakar, during the wedding of the governor’s daughter in Dutse…weekend

Hate Speech Bill’s Sponsor Buckles, Proposes Removal of Death Penalty... Page 5

2

MONDAY NOVEMBER 25, 2019 •T H I S D AY

MONDAY NOVEMBER 25, 2019 • T H I S D AY

3

4

MONDAY NOVEMBER 25, 2019 •T H I S D AY

5

MONDAY, ÍşÍ˝Ëœ ͺ͸͚Π˞ T H I S D AY

NEWS

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

Hate Speech Bill’s Sponsor Buckles, Proposes Removal of Death Penalty Deji Elumoye in Abuja The sponsor of the Hate Speech Bill at the Senate, Senator Sabi Abdullahi, has bowed to public criticism of the bill and expressed his readiness to expunge the clause that provided for death by hanging as the ultimate penalty for violators of the bill. The 26-page bill, which scaled first reading at Senate plenary early this month, stipulates various jail terms, including death by hanging by violators of the provisions of the bill cited as Independent National Commission for the Prohibition of Hate Speeches (Est. etc) Bill 2019. Abdullahi, who is the Senate Deputy Chief Whip, in a statement yesterday, said he was ready to canvass for the amendment of the death penalty proposed for anyone found culpable of hate speech that leads to the death of another, when the bill is subjected to legislative input by the upper legislative chamber. The bill sponsor stated: “We have followed closely arguments for and against the hate speech bill, and seen the reason why some kicked against it. “Given the high respect which we have for Nigerians, we will make amendment to the death penalty aspect that most Nigerians objected to, so that a bill that meets their expectations is passed into law. "Clearly from the conversations, Nigerians agree that we have a problem in the

society today as a result of hate speech, which has fueled so many killings and violence, and is responsible for cases of depression and suicides.� According to him, the bill will undergo some fine-tuning to ensure that the clauses contained in its provisions to be passed into law reflect the views of Nigerians. He added that the Senate welcomes contributions and inputs by critics and supporters of the bill, as these would go a long way towards giving Nigerians the much-awaited law to address the disturbing trend of hate speech. Shedding more light on the provisions of the bill, Senator Abdullahi explained that the Independent National Commission for the Prohibition of Hate Speech to be established will guard against every act of discrimination against Nigerians by way of victimisation. The commission, according to the former Senate spokesman, will have an executive chairperson, a secretary and 12 commissioners appointed through rigorous process involving the National Council of State, the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria and the National Assembly. In order to protect the independence of the commission, he stated that the bill provides that those qualified to be appointed as members of the commission must not be: members of the National

Assembly or any government in authority at the local, state or federal levels. The federal legislator added that any person, who is a member of any political party or known to be affiliated with partisan politics, or has promoted sectional, ethnic, religious causes or openly advocated partisan ethnic positions or interest, stands disqualified from being appointed to serve on the commission. "The overall concern is to

curb violence and unnecessary loss of lives and livelihoods of Nigerians due to hate-induced violence,� Abdullahi added. Hate speech, according to him, has led to the death of many and is a major factor behind depression and suicide in Nigeria. Citing a World Health Organisation report, Abdullahi disclosed that Nigeria which is the seventh-largest country in the world “has Africa’s highest rate of depression and ranks fifth in the world frequency

of suicide.� The controversial bill which scaled first reading at the Senate on November 12 had provisions that were outrightly condemned by larger part of the society. It includes section 2(4) which has to do with Hate speech and states : "(1) A person who uses, publishes, presents, produces, plays, provided, distributes and/or directs the performance of any material, written and or visual which is threatening, abusive or insulting or involves

the use of threatening, abusive or insulting words or behavior commits an offence if such person intends thereby to stir up ethnic hatred, or having regard to all the circumstances, ethnic hatred is likely to be stirred up against any person or person from such an ethnic group in Nigeria.(2) Any person who commits an offence under this section shall be liable to life imprisonment and where the act causes any loss of life, the person shall be punished with death by hanging."

DINNER FOR THE PRESIDENT... L-R: Former president, Dr. Goodluck Jonathan; Enugu State Governor, Chief Ifeanyi Ugwuanyi; and President-General of Ohanaeze Ndigbo, Chief Nnia Nwodo, during a dinner for the former president by the state government in Enugu‌yesterday.

PDP Asks Members to Prepare for Kogi West Senatorial Extra Poll AGF’s Rule on Recovered APC mocks opposition party Chuks Okocha and Adedayo Akinwale in Abuja The Peoples Democratic Party (PDP) has asked its members to work hard to win the November 30, supplementary election for Kogi West senatorial zone. The main opposition party also expressed concerns that President Muhammadu Buhari was more interested in the continuation of the ruling All Progressives Congress (APC) in office than he was in the survival of democracy in the country. A statement by the National Publicity Secretary of the party, Mr. Kola Ologbondiyan, last night clarified that it was not boycotting the supplementary election. Rather, it charged its members and supporters in Kogi West to brace up and get ready for a triumphant extra poll. It called on all its members, supporters, citizens and voters in Kogi West to unite in readiness against any repressive forces that might attempt to forcefully invade any polling unit to disrupt electoral process or alter results as witnessed in the November 16 elections. The PDP noted that Kogi State and particularly Kogi West, remains its home and the people are not ready to stomach the kind of impunity

exhibited by the APC in the November 16 polls. It said: "Our party, therefore, charges the people of Kogi State to come prepared to vote, protect their votes and ensure that they stamp their will on the ballot despite the odds. "The PDP cautions security agents as well as officials of the Independent National Electoral Commission (INEC) not to pander to repressive forcers, who seek to subvert the will of the people, as such is capable of attracting dire consequences." The party directed its members to stay united under their leaders in the area, as they would continue to be updated of vital information ahead of the election. The INEC had last week fixed next Saturday for the supplementary poll to conclude the November 16 senatorial election in the district, which the commission had declared inconclusive. But the PDP had said it had not only lost interest in the electoral umpire's ability to be fair to all parties, but also rejected the scheduled supplementary election.

PDP: Buhari Not Concerned about Democracy Survival

The party also expressed concerns that Buhari was more interested in the continuation of the ruling All Progressives Congress (APC) in office, than he was in the survival of democracy in the country. PDP urged the president to address the issues of violence, killings and alleged alteration of election results by the APC under his watch. It advised Buhari to end all attempts to “bring the unconstitutional third term, which he cannot get, to public discourse.� The PDP made its views known via a series of tweets on its verified Twitter handle @OfficialPDPNig. It warned that if Buhari “seeks to uphold the constitution, he should have used the APC NEC meeting to directly and strongly condemn his party’s resort to violence, killing, forcible invasion of polling units and alteration of results to seize power in the November 16, Kogi and Bayelsa states governorship election, as well as the Kogi West Senatorial election.� The party said by now, the president ought to have summoned his service chiefs and ordered a presidential investigation into the violence and observed infractions in the elections.

PDP's Doomsday will Not Be Postponed, Says APC Meanwhile, the APC has described the reported boycott and the PDP’s call to postpone the Kogi West Senatorial supplementary election as a 'silly joke'. The ruling party said that PDP's doomsday would not be postponed a second time. The National Publicity Secretary of the APC, Mallam Lanre Issa-Onilu, in a statement issued yesterday said that nobody was fooled by the PDP's statement threatening to boycott the supplementary election. Issa-Onilu stated: "Nobody is fooled by the PDP's statement boycotting the supplementary election. The All Progressives Congress (APC) will not drop its guard in our quest to get a clear majority of the remaining votes in the affected units. "Why should the supplementary election be cancelled as being demanded by the PDP? Is it because the PDP has already lost the election? As the wide margin of valid votes from the November 16 exercise shows, it is clear that Dino Melaye and the PDP have lost the election."

Assets will Promote Corruption, Says HEDA

A civil society organisation, Human and Environmental Development Agenda (HEDA), has condemned the new regulation recently issued by the Attorney General of the Federation, Abubakar Malami, on the management of recovered assets. The new rule vests in the AGF the exclusive power to manage all stolen assets recovered by anti-graft agencies. But in a statement issued yesterday by its Chairman, Olanrewaju Suraju, HEDA said the new rule was tantamount to “pulling the carpet off the feet of anti-corruption agencies established by Acts of parliament.� Anti-corruption group said the new rule, which directs all anti-corruption agencies to hand over all recovered assets to the AGF, would promote corruption. “The Attorney General of the Federation and Minister of Justice, Abubakar Malami, must scrap the new Asset Tracing Recovery and Management Regulations rule,� HEDA said in the statement by Suraju. It said, “The new regulation from the Ministry of Justice attempts to substitute legal

democratic institutions with individual political whims and caprices. “The ministry should not give the impression that it is desperate to take sides with corrupt officials and institutions. “It is important to note that each law enforcement agency and anti-corruption agency has in its enabling statutes the control and management of assets seized. “The National Drug Law Enforcement Agency Act, 1989 in Section 38 also states that the secretary to the agency is saddled with the responsibility of supervising the auction of any forfeited or seized property and then the proceeds are to be paid into the Consolidated Revenue Account.� HEDA gave the AGF a 14-day ultimatum to rescind the new rule, threatening to go to court. It said, “We have the mandate to promote the interest of the public and in the event that our demand is not acceded within 14 days of the receipt of this letter, we shall without further recourse to your office institute an action in court to demand the enforcement of the Constitution.�

6

MONDAY NOVEMBER 25, 2019 •T H I S D AY

MONDAY NOVEMBER 25, 2019 • T H I S D AY

7

8

MONDAY, ÍşÍ˝Ëœ ͺ͸͚Π˞ T H I S D AY

NEWS

Analysts: MPC May Retain Interest Rate to Accelerate GDP Growth

Obinna Chima

Analysts have predicted that members of the Monetary Policy Committee (MPC), which commence their last meeting for 2019 today, will leave the benchmark Monetary Policy Rate (MPR) and other monetary policy tools unchanged to spur economic growth in the fourth quarter of the year. According to them, despite concerns of inflationary pressure and declining external reserves, which ought to have prompted the 12-member committee to take action, the committee members would prefer not to tamper with the monetary policy instruments. The two-day MPC meeting would be the 270th for the committee. The country’s Gross Domestic Product (GDP) growth rate increased to 2.28 per cent (year-on-year) in real terms in the third quarter of the year (Q3 2019), compared to 2.12 per cent in the preceding quarter, representing an increase of 0.17 per cent. According to the GDP Q3 2019 report released at the weekend by the National Bureau of Statistics (NBS), the growth rate in Q3 represented the second highest quarterly rate recorded since 2016. Similarly, there has been stability in the exchange rate as the naira has continued to trade around the band of N360 to a dollar. However, the consumer price index, which measures inflation, had risen to 11.61 per cent in October, data previously released by the NBS had shown. The uptick represented an increase of 0.36 percentage points compared to 11.24 per cent recorded in September, and the last time

inflation was at 11.61 per cent was in May 2018, when the country was recovering from recession. On the other hand, latest figures from the Central Bank of Nigeria (CBN) showed that the country’s external reserves have fallen below the $40 billion mark, as it was at $39.954 billion as at last Thursday. The latest value of the reserves showed a year-to-date depreciation by 7.25 per cent or N3.121 billion, compared with the $43.076 billion it was as at January 2, 2019. Analysts at CSL Stockbrokers pointed out: “Although rising inflation expectations remains a risk, we expect the CBN to remain on hold in the short-term: hiking rates, in recognition of increased upside risks to inflation and mounting external sector pressures would further constraint economic growth; while a rate cut is likely to intensify risks to naira stability resulting, in increased capital outflows.� Also, in their comment on the expected MPC outcome, analysts at FSDH Merchant Bank noted that the recent increase in inflation rate coupled with inflationary pressures were huge concerns for monetary authorities. “When compared with the MPR, upward movement in inflation rate narrowed real interest rate margin to +1.9 percentage points in October from +2.5 in August. “For the 364-day treasury bill, real interest rate margin, which was +3.4 percentage points in January 2019, fell to +0.9 in October, owing to falling interest rates and rising inflation. “This rules out the likelihood of a reduction in MPR at the November Monetary Policy

Committee meeting, especially given the improved 2.3 per cent GDP growth figure in the third quarter 2019,� the analysts at the Lagos-based firm said. They added that the outlook for inflation remains “bleak, given the continued land border closure, approaching festive season and proposed tax increase in addition to new taxes/charges.� Overall, inflation in October was triggered by increase in food prices, adding that an increase of 58 basis points was recorded for food inflation, which stood at 14.1 per cent in October, while non-

food inflation rate declined marginally to 8.88 per cent from 8.94 per cent in September. Also, a former bank chief executive officer, Mr. Chika Mbonu, predicted that the MPC would leave the MPR and other tools unchanged. “Inflation is ticking up, ordinarily the CBN should increase the MPR to dry up the naira, but the CBN governor has come out to say it is temporary. Reserves have fallen from as high as $45 billion to below $40 billion now. The impact of the border closure cannot be clearly articulated because of the absence of verifiable data,�

Mbonu, who is also an Arise Television analyst, added. Also, the Head, RMBN Stockbrokers Research, Mr. Gbenga Sholotan, said the MPR would be retained at 13.5 per cent in spite of concerns of inflation edging higher. CBN Governor, Mr. Godwin Emefiele, had earlier allayed concerns of inflationary pressure saying: “If inflation is up as a result of border closure, it means that as a result of the border closure, supply of certain basic items have gone down, while demand has either risen or has been flat. So demand has outstripped supply and by that you are

facing a demand-pull inflation. And I have to speak now as a Nigerian. If prices of goods have gone up because we closed the borders so that jobs can be created for our people, so that our industries can come back alive again, and prices have up by 0.3 basis points in one month, for me I am not going to lose sleep. “All we need to do is for us to work hard to boost supply, so that prices can come down because supply has to go up to be able to match demand. I don’t have any apology to people who feel the border closure has resulted in price increase.�

TALE OF TWO CITIES... L-R: Lagos State Governor, Mr. Babajide Sanwo-Olu; Consul General of Nigeria in Guangzhou, China, Mr. Wale Oloko; and the Governor of Guangdong Province, Mr. Ma Xingrui, after the signing of a twin city agreement between Lagos and Guangdong in Guangzhou, China‌recently

NACCIMA, NECA Fault Senate’s Passage of Finance Bill Chris Uba Two key members of the organised private sector (OPS), the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), and Nigerian Employers Consultative Association (NECA), have raised objections to the Finance Bill (2019) passed into law last week by the Senate, saying that it is an indication that the legislative arm along with its executive counterpart are unmindful of the hardship Nigerians are going through. NACCIMA and NECA, which spoke separately to THISDAY, said the Finance Bill, which includes increase in the value-added-tax (VAT) from five per cent to 7.5 per cent, will impact negatively on the quality of lives of Nigerians because its spiral effects, which include hike in prices of commodities, adding that economic indices do not justify any upward adjustment of the consumer tax. , President Muhammadu Buhari had in October, presented the bill to the jointsitting of the National Assembly seeking to increase VAT from

five per cent to 7.5 per cent. In its reaction to the passage of the bill, NACCIMA commended “the leadership and members of the Senate for the accelerated attention given to the Finance Bill (2019), which aims to promote fiscal equity, align local laws with global best practices, introduce tax incentives for investments in infrastructure and the capital market as well as support small businesses in line with the ongoing Ease of Doing Business reforms.� However, while noting that the bill exempts MSMEs from VAT registration, pegging it below N25 million in turnover per year, it objected to the increase in VAT. It said the country’s economic growth trajectory had not fully recovered from the 2016 economic recession, adding that the nation’s Gross Domestic Product (GDP) growth rate per quarter has been 1.74 per cent on average (not exceeding 2.4 per cent at its highest point), since the country regained positive economic growth in 2017. Also, according to NACCIMA, inflation rate is still high, and has been

revolving around 11.3 per cent since May 2018, even as double-digit inflation is still driven by high food prices, while the Food Price Index has been revolving around 13.4 per cent during the same period. Unemployment rate as at the third quarter of 2018, stood at 23.1 per cent an estimated 20.9 million people are unemployed. “With this in mind, the association counsels that an increase in the current VAT rate is certain to have multiple negative effects starting with the initial increase in the final price of goods and services; an increase in the cost of production; a rise in inflation; an erosion of the purchasing power of the average Nigerian; the reduced competitiveness of Nigerian goods and services in international markets; and a rise in unemployment as the real sector adjusts to rising costs of production,� said the National President of NACCIMA , Hajiya Saratu Iya Aliyu. “While noting the federal government’s need to fund the implementation of the national budget, especially, in line with the new minimum wage structure, the association further counsels that expanding the

tax net, implementing tax reform and ensuring robust tax administration will also increase government revenues with less negative impact on the indicators listed above. “Recent reports from the Federal Inland Revenue Service (FIRS) show that these activities are yielding fruit. To further emphasise this position, it is relevant to note that the expansion of, or the increase in the productivity of the existing tax base by 2.1 per cent will provide the same expected revenue as the proposed increase in VAT rates,� she added. On its part, NECA, which said the bill passage “came as a shock to stakeholders as they expected the Senate to take into consideration the various submissions by them,� described the bill as anti-people. The Director-General of the association, Mr. Timothy Olawale, stated “we received with shock the news that the ‘people's Senate’, without painstakingly going through various memoranda submitted by stakeholders on the Finance Bill and following the due process of law making, passed

the Finance Bill into law, thereby rubber-stamping the increase in VAT, Excise Duty and Stamp Duty amongst other anti-people provisions, with the direct consequences being Nigerians having to pay more for goods and services.� Government, he said, “especially the National Assembly, has condemned the citizenry to a life of servitude to fuel their appetite for easy life. The National Assembly is by implication asking Nigerians that are already passing through tough times economically to prepare for a more harrowing experience with eroded purchasing power in the face of rising inflation. "While an increase of 2.5 per cent may appear small, it is in fact a 50 per cent increase in VAT cost to many businesses and consumers. The negative impact will include increase in prices leading to higher inflation, less disposable income for already poor households resulting in lower consumption and a decline in GDP growth rate. Also, because input VAT on capital expenditure is not allowed as a credit in Nigeria, the cost of real investments will go up and

more people will evade the tax as compliant entities become less competitive. “The Senate is expected to be the conscience of the nation as they are representatives of the people. It is, thus, expected that the interest of the people will guide their actions. It is worrisome that the Senate will treat Nigerians and the business community with contempt by not taking into consideration their views and concerns as regards the Finance Bill, even when the Senate itself called for memoranda. It appears that Nigerians are becoming hostage to those they elected to serve them. “The only succour left is to hope that the pro-people disposition of President Buhari will rise to the defence of the people by declining assent to the bill as presently passed by the Senate, notwithstanding the fact that the bill emanated from the presidency in the first instance. The president must insist that due process be followed in the passage of the bill. The nation cannot afford to sacrifice due process and long term survival of its citizens on the altar of political expediency," he added.

9

MONDAY, ÍşÍ˝Ëœ ͺ͸͚Π˞ T H I S D AY

PAGE NINE APPEAL AGAINST $200M DEPOSIT ON P&ID CASE NOT LOST, SAYS FG the London court ordered the country to deposit $200 million as security into the court’s account while granting request to stay execution of the $9.6 billion award in favour of P&ID. The court in addition gave Nigeria up till November 25 to make the deposit but the federal government appealed the court’s decision. But a news report claimed that at the hearing of the appeal on Friday the court refused to grant Nigeria's bid to stop the deposit of the security. However, reacting to report that the government failed in its bid to stop the $200 million security deposit, the Solicitor General of the Federation and Permanent Secretary of the Ministry of Justice, Mr. Dayo Apata (SAN), said the government did not lose its appeal, adding that the report in the media was "wrong and twisted." Apata stated that parties in the suit would appear before the court today for the court's decision on whether to allow bank guarantee in place of

actual payment, adding that there are indications from Friday's proceedings that the court might accept a bank guarantee. "There is no loss of any appeal. The media reports are wrong and twisted,� Apata said, adding: "We are in court on Monday (today) again for Butcher's decision on whether he will substitute actual payment for bank guarantee. He was said to have indicated on Friday that a satisfactory bank guarantee would be acceptable to him." P&ID was reported to have claimed that Nigeria failed to avoid the deposit of $200million security required to stay the execution of the $9.6 billion judgment debt. The report added that Nigeria accordingly agreed to pay the $200 million security deposit as ordered by Justice Christopher Butcher of the Commercial Court in London in September. The report was tied to a statement from P&ID, wherein the federal government’s legal team was quoted to have said

that Nigeria has agreed to pay the security deposit. The statement read in part, “Before Justice Butcher today (Friday) in London, the Nigerian legal team acknowledged that President Buhari has authorised the steps to provide a bank guarantee for the $200m in security that was ordered by the English Court in September. “Moreover, the following steps have already been taken by the Nigerian Government: Ministry of Finance has received approval to proceed with obtaining the bank guarantee; Minister of Finance has submitted a request to the Central Bank of Nigeria to proceed with procuring the bank guarantee; the Central Bank of Nigeria has submitted a request to an unnamed foreign correspondent bank to issue the bank guarantee from London and provide the relevant information to the court.� However, Apata dismissed the report, saying parties will appear before the court today

(Monday) on the issue. P&ID had in 2012 instituted the legal battle against Nigeria in the Court of Arbitration in the UK in 2012 following Nigeria's refusal to carry on with the GSPA agreement entered with the firm in 2010. By the terms of the agreement, P&ID was to build and operate an accelerated gas development project at Adiabo in Odukpani Local Government Area (LGA) of Cross River State. The agreement required the federal government to supply natural gas from Addax Petroleum-operated Oil Mining Leases (OMLs) 123 and 67 for P&ID to refine into fuel suitable for power generation in the country. According to the terms, the initial volume of gas was about 150 million cubic feet of gas per day, which would be ramped up to about 400 million cubic feet per day during the 20-year period. P&ID alleged that after signing the agreement, the federal government reneged on its obligation after it had opened negotiations

with the Cross River State Government for allocation of land for the project. P&ID claimed that the failure of the federal government to construct the pipeline system to supply the gas frustrated the construction of the gas project and deprived it the potential benefits expected from 20 years’ worth of gas supplies. But the federal government has continued to maintain that P&ID never began the construction of the project facility for which it claimed about $40 million in preliminary expenses. The government said the firm's claim in the arbitration proceedings was mainly for loss of profit for the entire twenty-year term of the GSPA, "initially claiming the sum of US$1.9 billion and later increasing its claim to US$5.9bn. Solicitor General of the Federation had in a statement on August 16, said though the arbitral tribunal had on January 31, 2017 rendered its final award against the Ministry

of Petroleum Resources in the sum of $6.597 billion together with pre-award interest at the rate of 7% per annum effective from March 20, 2013 and post award interest at the same rate till date of payment, the government had challenged the decision. Meanwhile, the Abuja Division of the Federal High Court had on September 19 convicted and subsequently ordered the winding up of P&ID and its Nigerian affiliate, P&ID Nigeria Limited. The court also ordered the forfeiture of “the assets and properties� of the two firms to the Nigerian government. Justice Inyang Ekwo made the orders after the two firms, through their representatives, pleaded guilty to the 11-count charges of fraud, money laundering, tax evasion and other sundry charges in connection with a year 2010 contract leading to the recent controversial judgment of a British court recognising the award of $9.6bn in favour of P&ID by an arbitration panel.

the peculiarities of the university system and had benefited immensely from the peculiarities. He urged members of the union to remain steadfast and stand firm to protect public universities by not filling any form or submit their bio-data for enrolment into the IPPIS. Also speaking on the issue, the Chairman of the University of Calabar branch of ASUU, Dr. John Edor, told THISDAY at the weekend that his members would abide by the directive given by its national secretariat that they should not be "forcibly migrated into the IPPIS without smoothing the rough edges of that system of payment." "We have said that we have peculiar concepts, we have peculiar practices in the universities that are not congenial with the modus operandi of IPPIS so the university should be exempted from using IPPIS for its payment," Edor said. He said no member of ASUU would comply with the directives and that every member had been fully sensitised to ignore the proposed enrolment. According to him, any action taken by lecturers in the University of Calabar under the umbrella of the union must be in tandem with the stance of the ASUU national leadership on IPPIS.

"We have held congresses, I have released bulletins, I have released memos, I have released text messages. We are not complying with the directives of the office of the Accountant-General of the Federation that we must be forcibly migrated to IPPIS. We are not. We are not mincing words about it, we are not compromising our position with ASUU national," Edor explained. The chairman of Nnamdi Azikiwe University, Awka chapter of ASUU, Mr. Steve Ufoaroh, did not respond to text messages but the immediate past chairman of ASUU in the institution, Prof. Dennis Aribodor, told THISDAY that the effort of the federal government to force them to enrol would come to naught. The Chairman, University of Nigeria, Nsukka (UNN) chapter of the union, Dr. Christian Opata, accused the federal government of adopting dictatorial measures instead of engaging with the union and making efforts to meet their demands. “Labour strictly has to do with engagement; you have to talk to those concerned and find out measures to adopt in addressing their grievances and not these dictatorial directives coming from the federal government, � he said. Opata said it was surprising that the OAGF

would after calling for a negotiation between the federal government and the union, still go ahead to issue the IPPIS directive, maintaining that governments must meet the demands of the union or risk having a country with no university system again. “If they want us to shut down the universities, we are ready. The only thing that will suffer is the future of our children and the future of education in the country, which we all have been making efforts to improve over the years.� he said. He, however, noted that the various chapters of the union are still waiting for directives from the national level before taking any decision, adding that they do not care whenever the exercise is going to start. “ASUU is meeting at the national level because of the issue. All branches will have to wait for directives from them and the whole truth about the situation is that whether the accountant general is issuing order or not, it is not before us,� he said.

IPPIS: ASUU DARES FG, MOBILISES FOR NATIONWIDE STRIKE captured on the payment platform, designed to weed out ghost workers. While the National Steering Committee of the Congress of University Academics (CONUA), a splinter group from ASUU, had directed its members to immediately begin enrolment in compliance with the federal government’s directive, ASUU had vowed to resist the scheme. THISDAY gathered that after a protracted meeting of ASUU, which lasted throughout the weekend, the union resolved to mobilise its members for a strike should the federal government suspend their salaries for refusing to enrol into the scheme. When contacted, the National President of the Academic Staff Union of Universities (ASUU), Prof. Biodun Ogunyemi, promised to brief THISDAY at the end of the marathon meeting but he could not do so as at the time of going to the press. However, a source privy to the meeting told THISDAY that the national body was mobilising its members for a strike if the federal government suspends their salaries. Also, the Sokoto Zonal Coordinator of ASUU, Mr. Jamilu Shehu, told THISDAY that if the federal government insists on stopping the salaries

of the university lecturers for not joining IPPIS, the union's policy of ‘No Pay No Work,’ will definitely be implemented." "ASUU is determined to oppose any policy that is aimed at thwarting the educational advancement of the country. If government insists on stopping the salaries of the university staff for not joining IPPIS, the union's policy of No Pay No Work will definitely be implemented," he said. He added that IPPIS violates the provisions of the Establishment Act of all federal universities and the union viewed the claim by the OAGF that ASUU’s position against IPPIS was an endorsement of corruption as cheap blackmail and a calculated attempt to sabotage university autonomy. “Taking the next line of action depends upon the stopping of our salary by the government,� he added. The Sokoto zonal office of the union comprises Umaru Musa Yar'Adua University, Katsina; Federal University Dutsin-Ma, Katsina; Usmanu Danfodiyo University, Sokoto; Sokoto State University; and Kebbi State University of Science and Technology, Aliero. The ASUU Chairman, Usman Danfodiyo University, Sokoto, Dr. Abubakar Sabo, also said the union had

directed its members not to enroll in the IPPIS, adding that if the government compels them, they would know the next line of action to take. The Chairman of University of Ilorin chapter, Prof. Moyosore Ajao, told THISDAY that the national body had directed its members not to enroll into the IPPIS as directed by the federal government. When asked if the union would commence strike immediately, Salihu said: "Our national headquarters would deliberate on that so as to take the next line of action." Chairman of University of Ibadan chapter of the union, Prof. Deji Omole, also confirmed that the national body has directed the branch unions to boycott the government's directive. Omole said no ASUU member should appear before the Accountant General’s team until further directive of the union, noting that while ASUU supports the fight against corruption, it would resist attempt by the government to trample on university autonomy. He stated that the union's leadership was still in discussion with the federal government and helping it to develop more robust template, stating that Vice President Yemi Osinbajo, as an academic understands

APPEAL COURT MOVES TO FAST-TRACK HEARING OF AMCON CASES has a sunset date. This time constraint has made it necessary for AMCON to migrate to the enforcement gear. To accomplish its target as it approaches the sunset date, AMCON must be more proactive and ingenious in its approach towards the sooner realisation of its objectives. "It is therefore beyond doubt that for AMCON to succeed, the support of the judiciary is decisive as the distinguished judiciary is the last hope of AMCON," she said. Justice Bulkachuwa stated that the court has always supported AMCON within the bounds of the law and will continue to do so. She

urged the corporation to commence a comprehensive compilation of its nascent jurisprudence so that it will be accessible to all. She, however, enjoined her colleagues to effectively and passionately participate in the interaction, adding that their robust participation will broaden their familiarity with the new AMCON Act, "thereby engendering harmony in the implementation of the instrument based on the well informed rationalisation that will underscore our decisions." The amended AMCON Act 2019, among others, makes it mandatory for the appellate

court to decide an appeal relating to the corporation within 60 days. The new Act also mandated heads of courts to designate courts that will consider only AMCON matters; prescribe AMCON exclusive Practice Directions as well as ordering judgment debtors who decide to appeal the decision of the lower court to deposit the judgment sum before the appeal can be considered by the Court of Appeal. Also, the new law makes it an offence punishable by fine or imprisonment or both for any bank that refuses to give details of a debtor to AMCON.

The objective of the new law is to ensure that AMCON's efforts towards speedy resolution of troubled assets within its sunset date are accomplished. According to the Director General, Legal Academy, Dr Fatihu Abba, AMCON has an exposure to recover in excess of N5 trillion and unless something drastic is done this may not be realisable. He commended the amendment of the AMCON Act, which he said leaves no room for debtors who hitherto have been employing all tactics, including the court, to frustrate AMCON's debt

recovery efforts. According to him, the new law criminalises certain conducts by banks and their officials, empowers AMCON to freeze accounts of banks as well as compel banks to disclose details of obligors. "Debtors have hidden under the technicalities of the law because their appeals can drag on for eternity but the amended AMCON Act has made that technically impossible because it has prescribed 60 days within which an appeal must be heard at the Court of Appeal in relation to AMCON cases, and six months at the Federal High Court, the court of first instance," Abba said.

TOP GAINERS OKOMUOIL NEIMETH IKEJHOTEL MCNICHOLS CHAMSPLC TOP LOSERS JAIZBANK COURTVILLE LASACO

NGN NGN 5.00 55.00 0.05 0.56 0.11 1.25 0.04 0.46 0.03 0.36 NGN 0.06 0.63 0.02 0.23 0.02 0.23 WEMABANK 0.04 0.71 FIDELITY 0.09 2.00 HPE Nestle Nig Plc â‚Ś1,250.00 Volume: 239.221 million shares Value: N2.278 billion Deals: 3,585 As at Friday 22/11/19 See details on Page 33

% 10 9.8 9.6 9.5 9.0 % 8.7 8.0 8.0 5.3 4.3

10

MONDAY NOVEMBER 25, 2019 ˾ T H I S D AY

NEWSEXTRA

Senate May Pass 2020 Appropriation Bill Thursday Deji Elumoye in Abuja The N10.33 trillion 2020 budget proposal presented by President Muhammadu Buhari to the National Assembly may be passed by the upper legislative chamber on Thursday. This is with a view to bringing the budget cycle effective 2020 fiscal year to January to December from the current May to April and the passage will be coming less than two months after the budget estimate was presented by the

President to a joint session of the National Assembly on October 8. The Senate is currently working towards the realisation of the Thursday deadline for budget passage as its committee on Appropriation headed by Senator Barau Jibrin, is expected to present the budget report to the Senate at plenary tomorrow. THISDAY gathered yesterday that the Appropriation committee even extended its meeting to the weekend so as to meet the deadline of presenting

Buhari Demands Investigation on Murdered Kogi PDP Woman Leader Olawale Ajimotokan in Abuja President Muhammadu Buhari has demanded a thorough investigation of the gruesome murder of Salome Achejuh Abuh, woman leader of the Peoples Democratic Party (PDP) in Wada Aro, Ochadamu Ward in Ofu Local Government of Kogi State, after the concluded governorship election in the state . The 60- year- old woman was roasted alive when political thugs barricaded her house, doused it with petrol and set it ablaze. Buhari said the evildoers of the act must be brought to justice irrespective of whatever allegiances they hold. President Buhari expressed outrage at the gruesome murder, while also decrying whatever reason could spur anyone to take the life of another human being, particularly a woman. In a statement issued yesterday by one of his media aides, Femi

the committee’s budget report by Tuesday. A ranking Senator from the South East and member of the committee who spoke anonymously with THISDAY stressed that Tuesday’s date for the submission of the committee’s report remains sacrosanct “and this informed why we had to meet this weekend to put the report together”. He also said the committee will continue with the meeting today and ensure proper collation and harmonisation of the budget reports submitted to it by the various committees of the Senate in the last one month. The committee member further stressed that “ don’t forget that shortly after the budget presentation by Mr President and general debate on the general principles of the

bill as well as passage for second reading, the Appropriations committee met with Chairmen of the budget sub-committees on what was expected of them during budget defence sessions with Ministries, Departments and Agencies (MDAs). “We also had a two-day public hearing on the bill where stakeholders including Ministers, workers, students, civil society organisations, among others, were opportune to have input into the budget estimaye after which the committee received reports of budget defence sessions with MDAs from the respective committees now culminating in the harmonisation of the reports which we are doing currently ahead of the presentation of the report by the committee on Tuesday”, the ranking Senator said. According to him, the

Senate President, Dr Ahmad Lawan, had also reminded the committee of the need to ensure that the budget report is ready for presentation at tomorrow’s plenary, “this we are really aware of and will ensure its realisation.” THISDAY further learnt that once the budget report is laid tomorrow at Senate plenary, the Appropriation bill after its consideration within two days will pass through third reading after clause by clause consideration by the Senate before final passage hopefully on Thursday. Lawan had earlier this month hinted that the National Assembly was working towards the passage of the 2020 Appropriation bill before the end of this month. The Senate President who spoke at Senate plenary

emphasised that the Red Chamber will rely on its Appropriation committee to lay the budget report at plenary on November 26 so as to facilitate the passage of the 2020 budget on Thursday, November 28. Said he: “On the 2020 Budget we are working on, the ball is now in the court of Senate Committee on Appropriation, the last committee standing. All the committees have done their work so well within the defined parameters and we, therefore, expect the Appropriations Committee to produce the report and lay it here by the 26th of November “Ibelieve that the same thing will be done in our sister chamber, the House of Representatives, so that we are able to pass the Appropriation Bill 2020 on November 28, by the Grace of God”, Lawan had stated.

Adesina, the President charged all security agencies involved in the investigation to do a thorough and expeditious job on the matter, so that justice could be served without fear or favour. “We must learn to behave decently, whether during elections or at other times. No life should be taken wantonly under any guise, and the fact that this reprehensible act occurred two days after voting shows primitive behavior, which should not be accepted in a decent society,” the President said. He also sympathised with the family of the deceased. The President vowed that the law would catch up with the malefactors, while assuring that justice would be done. According to Buhari, the treatment visited on the PDP woman leader was pure criminality and bestiality and a descent to barbarism that has gone out of the realm of politics.

TO THE LEADER… PPPRA: Nigeria Has Six-day HOMAGE Kano State Governor, Dr. Abdulahi Ganduje (left), and National Leader of All Progressives Congress, Senator Bola Tinubu, when the governor paid a courtesy call on the former Lagos State governor at his Bourdillon, Ikoyi residence in Lagos…yesterday Stock of Kerosene Chineme Okafor in Abuja The latest ‘Petroleum Products Days Sufficiency’ report from the Petroleum Products Pricing Regulatory Agency (PPPRA) has disclosed that the volume of household kerosene available in Nigeria would last for only 6.3 days. This is just as the country is expected to host the Head of International Secretariat of the global Extractive Industries Transparency Initiative (EITI), Mr. Mark Robinson, who arrives tomorrow on a working visit that would see him hold meetings on reforms in the country’s extractive sectors. Obtained yesterday by THISDAY, the PPPRA report profiled the closing stock of petroleum products in Nigeria for the day November 21, 2019, and showed that as at that day, the country had 8,128,761 litres of kerosene in its land and marine stocks. It also disclosed that on the same day, the country had up to 2,668,918,110 litres of petrol that will last for 47.83 days; 514,937,416 litres of diesel expected to last for 37.05 days

and Aviation Turbine Kerosene (ATK) of 180,735,444 litres to last for 70.33 days. Although the federal government has scrapped subsidy on kerosene with the intention to encourage use of liquefied petroleum gas (LPG) by households, a good number of Nigerians still rely on kerosene as their energy source, especially for cooking. To buttress the sustained use of kerosene by Nigerians, the National Bureau of Statistics (NBS) stated in its October 2019 price watch for household kerosene, that the average price per litre paid by consumers for kerosene increased by 1.97 per cent month-on-month and by 2.90 per cent year-on-year to N324.72 in October 2019 from N318.46 in September 2019. NBS explained that states with the highest average price per litre of kerosene were Enugu - N368.14, Imo - N357.68, and Plateau - N354.17, while states with the lowest average price per litre of kerosene were Abuja - N253, Nasarawa - N265.61 and Kwara - N270.83.

CORRIGENDUM In the story captioned: ‘How Kidnappers Demanded N500bn from Appeal Court Judge,’ published on Friday, November 22, 2019, we inadvertently wrote that the kidnappers demanded N500bn. We have since found out that it was N5bn that they demanded. The error is regretted. – Editor

ACF Chair: Northerners will Vote for Northern Presidential Candidate in 2023 The acting Chairman of Arewa Consultative Forum (ACF), Alhaji Musa Liman Kwande, has stated that northerners will vote for a northern presidential candidate to take over from Muhammadu Buhari in 2023, irrespective of the party he belongs. Kwande stated this yesterday in Lafia, Nasarawa State capital, saying that, “I am expressing my opinion as a full fledged Northerner and a citizen of Nigeria and not that of ACF.” “Northern Nigerians who

are tested and trusted should contest for any political office with anybody from any part of Nigeria and the people should exercise their democratic franchise to vote for their candidate of choice.” Kwande said, ACF and Northern Elders Forum (NEF) are all pressure groups striving for the development of northern Nigeria in particular and Nigeria in general, just like Afenifere, Ohanaeze Ndi Igbo and others in the South-south region.

Kwande who is the Baraden -generalismo- of Lafia in Nasarawa State, however, called on northerners to strive towards developing the region by voting for people who are pro-development and not those who are self-centered. He said, “Nigeria is our country; we must unite and develop it despite being from different geographical locations. We should not relent in the pursuit of growth and development as we are blessed

with gifted people and many resources, as only Nigerians would develop the country to greater heights.” The acting ACF chairman however called on Nigerians to embrace peace and dialogue and denounce violence, which he said is against democratic norms and a treat to the federation. He called on politicians to accept election result and be statesmen and the youth to avoid being used as political thugs.

Don’t Surrender Your Independence, PDP Counsels Chuks Okocha in Abuja The Peoples Democratic Party (PDP) yesterday the leadership of the Senate to resist any forms of intimidation from the President Muhammadu Buhari to surrender its independence and pass bills and requests without statutory legislative scrutiny and oversights. The party’s position is predicated on the blanket comment credited to the Senate President, Senator Ahmed Lawan, that any request from President Buhari to the National Assembly is good for the country,

even without subjecting such requests to statutory legislative scrutiny. The PDP in a statement signed by the party’s National Publicity Secretary, Mr. Kola Ologbondiyan, described such stance as unconstitutional and unacceptable as it amounts to relinquishing statutory powers of checks and balances of the National Assembly. According to PDP, “This, our party notes, will create an alarming impression that the present National Assembly has been annexed by the executive and reduced to a rubber stamp

legislature. “The statement by the Senate President has heavily detracted from the expected independence of the legislature. It is fast eroding the confidence Nigerians have on the Senate and the National Assembly, as true representatives of the people at the national level”. The party noted that even if the Senate leadership believes in the import of any request or bill from the President, the 1999 Constitution (as amended) requires the legislature to pass such through its statutory checks and balances processes to ensure

that the content and intent are in tandem with overall national interest. Such legislative checks, PDP said are enshrined in the constitution to curtail the excesses of the executive as well as create room for democratic tenet of citizens’ participation through their elected representatives. According to PDP, “anything to the contrary is a direct suspension of our constitution, enthronement of dictatorship and a sidestepping of the legislative powers, which is capable of destroying the institution of the National Assembly.

MONDAY NOVEMBER 25, 2019 • T H I S D AY

11

12

MONDAY NOVEMBER 25, 2019 •T H I S D AY

MONDAY NOVEMBER 25, 2019 • T H I S D AY

13

14

T H I S D AY Ëž Ëœ Í°ÍłËœ Ͱ͎ͯ͡

COMMENT

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

NIGERIA AND DEFENCE PROCUREMENT

The progress in self-reliance in the defence sector should be sustained, writes Salisu Na’inna Dambatta

E

xciting times are clearly back at the Defence Industries Corporation of Nigeria (DICON), Kaduna, where activities are picking up reminiscent of its busiest era in the early 1970s. The upswing in production activities at the armament manufacturer was triggered by a directive by President Muhammadu Buhari that the armed forces and paramilitary organisations in the country procure some of their materials, including uniforms, from the organization. The recent signing of an agreement between DICON and the Nigerian Army for the local fabrication and supply of 28 units of Mine Resistant Ambush Protected (MRAP) vehicle is the latest publicised major military procurement from DICON. It represents a commendable compliance with the directive of the commander-in-chief. The fact that the vehicle was designed and built by Command Engineering Depot in collaboration with the Defence Industries Corporation of Nigeria is evidence of the determination of Nigeria to achieve substantial self-reliance in the design, fabrication and deployment of robust military equipment in-country. Recall that Malam Garba Shehu, the Senior Special Assistant on Media and Publicity to President Buhari issued a press statement saying that the president had on Friday, August 7, 2015, instructed the Ministry of Defence to prepare a plan for the establishment of a Military Industrial Complex in the country. The president gave the directive in a speech at the graduation ceremony of the National Defence College. He said Nigeria’s overdependence on other countries for critical military equipment and logistics was unacceptable. “We must evolve viable mechanisms for near self-sufficiency in military equipment and logistics production complemented only by very advanced foreign technologies,� the president said. While DICON and the research arm of the Nigerian Army are making joint efforts to achieve the goals set by the president through collaborative projects, other sister services namely the Nigerian Navy and Nigerian Air Force are treading the same path of developing or sourcing many of their needs at home. Marine and Petroleum Nigeria, an online outlet, reported that the Nigerian navy has entered into an agreement with Nigerian ship builders for the fabrication of 100 vessels. “In its bid to adequately patrol the waterways and curb illegalities in Nigeria’s maritime domain, the Nigerian navy has entered into agreements with two indigenous companies to manufacture about 100 gun boats and patrol vessels in Nigeria,� the report says. The contract indicates that various classes of vessels including gun boats, patrol vessels, ambulance boats, mass transit boats and boat houses with special adaptations for efficient naval operations were ordered. Some of the boats are 8.2 meters long, fitted with automatic

THE FACT THAT THE VEHICLE WAS DESIGNED AND BUILT BY COMMAND ENGINEERING DEPOT IN COLLABORATION WITH THE DEFENCE INDUSTRIES CORPORATION OF NIGERIA IS EVIDENCE OF OUR DETERMINATION TO ACHIEVE SUBSTANTIAL SELF-RELIANCE IN THE DESIGN, FABRICATION AND DEPLOYMENT OF ROBUST MILITARY EQUIPMENT IN-COUNTRY

grenade launchers (AGL), which are extremely versatile high velocity ammunition. The Chief of Naval Staff, Admiral Ibok-Ete Ekwe Ibas, said the locally-built vessels “contribute to Nigeria’s national security and prosperity and come at half the cost of acquiring vessels from overseas.� The Nigerian Navy has earlier built NNS ANDONI, the country’s first locally built warship. It is a 31m Seaward Defence Boat (SDB) with sufficient fire power to beat enemies at sea. The navy also built NNS KARADUWA, which is a 38.9 meter-long boat designated as SDB II. It was commissioned in December 2016 by President Buhari, roughly one year after his directive at the Defence College, Abuja. The Nigerian Navy says the vessel has a draught of 4.1m, a breath of 7.5m, a top speed of 22 knots and an endurance of 12 days at a cruising speed of 12 knots. KARADUWA can carry a crew of 37 while its weapons comprise a remote-controlled 20mm gun, six 12.7 machine guns and one 40mm AGL. In a similar inward-looking drive, the Nigerian Air Force (NAF) said on its website that it has signed an agreement with Machine Tools, Oshogbo, covering training, machining, fabrication, casting as well as research and development. It also covers the development and provision of personal, vehicular and aircraft protective equipment. The Nigerian Air Force has equally signed a Memoranda of Understanding (MOUs) with 15 universities in the country for research and development purposes. The agreements are yielding the desired results. And the Air Force Institute of Technology (AFIT) Kaduna, showcased the outcomes of its Research and Development (R&D) breakthroughs, during its 47th convocation ceremony. They included a prototype Oleo-Pneumatic Shock Absorber for Unmanned Aerial Vehicles (UAV), an Automatic Solar Tracking System and a Rocket Launcher Circuit Test Box. Others were a prototype of Light Weight Helicopter, an unmanned Hexacopter as well as the adaptation and installation of BO-105 Helicopter guns on the Bell 412 Helicopters. In its continuing bid to boost self-reliance, the NAF, using its technicians, has successfully reconfigured two demilitarised Alpha Jets in its inventory that were without weapon delivery capability into combat platforms that drop lethal ammunition. In summary, it can be seen that the Defence Industries Corporation and the military services are working with other institutions to achieve near self-reliance in the design and development of military equipment. The tempo of our national progress toward self-reliance in the defence sector should be expanded and sustained in line with the vision of President Buhari to develop “a modest� military industrial complex for our country.

IT’S THE ECONOMY, STUPID! India needs urgent steps to restore consumer confidence in the future of the economy, writes Rajendra K. Aneja*

“

We have seen many young adults coming to hospitals with hypertension and elevated sugars related to work stress and uncertainty of jobs. Even occult depression is on the rise,� wrote a renowned cardiologist to me, a few days ago. The news sent a shiver down my spine. Surely the Indian economy had not slipped so precariously? Indian GDP growth rates have slipped to around five per cent from seven/eight per cent in earlier years. The Indian economy is in a free-fall state. Poor are not eating food: A survey by the National Statistical office (NSO), reports that consumer spending has fallen after four decades. The report is alarming since overall rural demand has declined by 8.8 per cent. Rural demand for rudimentary items like salt, sugar and spices has declined by 16.6 per cent. So, villagers are eating less, since salt and sugar are a barometer to the quantum of meals that people eat. Sugar, salt and spices do not constitute a meal by themselves. The consumption of these three ingredients has declined by 14.2 per cent even in the urban areas. It only means people are becoming poor and reducing food consumption. When I was posted in Brazil with Unilever in 1994, and engaged in launching a mass markets washing powder “Ala�, for the rural areas and slums, we were able to assess the economic situation by studying salt consumption in the country. When salt consumption in a country augments, it indicates people are eating more food, living standards are improving and people have money. They could now be eating three meals a day, i.e. breakfast, lunch and dinner. It may surprise many, that people in some countries are so poor that they can afford only two meals a day, very often only breakfast and dinner. So, more salt consumption means more food being consumed and that the country is progressing. India’s growth story was fueled by agricultural productivity and rising rural incomes. Demonetisa-

tion in 2016, crippled the rural economy which principally runs on cash. Thus, agricultural labour is unemployed. These workers live a hand-to-mouth life, subsisting on daily wages. Since they have no savings, they are in deep trouble. Many small factories and ancillaries which shut down during the demonetisation, are yet struggling. Incomes in the villages have declined. Many small-scale units which had shut down due to demonetisation, have not commenced business, adding to unemployment and loss of livelihoods in the villages. Villagers have lost jobs. Unseasonal rains have also dented farm incomes. Recently, the onion crops have been destroyed in many states due to protracted rains. Unemployment was a serious problem; it is rampant in the informal sector and at around six per cent in the organized sector. A weakening of demand in the villages has a direct impact on corporate performance. The salary increments in the private sector corporations in the current year have been the lowest in the last decade. This in turn, impacts the demand for housing, cars, refrigerators and consumer durables. Urban consumers are shy of spending money on clothes, computers, or cars, since they are not sure whether they will have a job or a salary next month. The reduction in corporate taxes by five per cent is not going to fuel consumer demand. The CEO of Tata Motors has cautioned that the recent Indian Corporate Tax cut of about five per cent is insufficient to resolve the problems of the economy. Very true indeed. India had amongst the highest corporate tax rates globally. This move to reduce taxes is wise. Hopefully the corporate sector will cease the various layoffs of personnel and the closures of ancillary factories, which were in the pipelines, especially in the automobile sector. The telecom company Voda Idea has posted India

Inc’s highest ever quarterly loss of about USD5bn. Another operator, Airtel posted a loss of USD4.5 Bn for the same quarter. This is macabre. This clearly warns that one or both two telecom companies could go under. Their CEOs have already hinted that if these losses continue, the operations will not be sustainable. Thus, we are looking at job losses of up to 30,000 to 50,000, including indirect job losses, i.e., vendors, sales staff, shopkeepers’, etc., across the country. Sales of durables like cars have flopped by about 40 per cent. Retailers in malls and Hight streets confirm to me, on my market visits, that sales have declined by 15 to 30 per cent, across various categories of products in the current year. Furthermore, the banks in India are jittery as the central bank, i.e. RBI’s deadline nears to resolve defaulting companies’ loans amounting to Rs. 3.8 trillion. The banking sector was already shaky after the Non-Performing Assets issues surfaced. So, GDP growth data is being questioned. Rural demand is tapering off and companies are worried. Unemployment figures are not even available. The unfortunate fact is that there is a desperate shortage of bright economists and economy managers who can take current impasse by its horns and hammer out solutions to generate growth and jobs. India needs urgent steps, on a war-footing, to restore consumer confidence in the future of the economy. Whilst winning elections and building temples could be important to retain power, we must remember that people need to eat too, to live. The government must act quickly, to restore consumer confidence to ensure livelihoods. An entrepreneur should devote time to grow his business rather than be flummoxed in complying with regulations. Every businessman is not a thief, out to cheat the government. Businessmen are not hoods or highway robbers. They are entrepreneurs. They generate employment, revenues and provide

livelihoods. Laws should be friendly and easy to obey. This is the crucial time to reduce the rate of individual taxation, which at the highest level is 30 per cent. It is important to kick-start the economy by igniting the buying cycle. It will be smart to put more purchasing power in the hands of the consumers by rationalising the rates of income taxes to a maximum of 20 per cent and lowering the GST (Good and Service Tax), introduced in 2017, from the highest slab of 28 per cent to a maximum of 15 per cent. The government needs to urgently launch mass employment schemes in the rural areas, which provide gainful work to the rural labour. Some of these are road-building, improving agrarian infrastructure like building warehouses, canals, etc., animal husbandry, poultry farming, horticulture, etc. The people of a country cannot be taken for granted, indefinitely and all the time. We need to stop the gross mismanagement of the economy, the insouciance, and the growing narrow-centric nationalism. Till the villagers of India start buying soaps and biscuits, the Indian economy will continue to be sluggish. Mahatma Gandhi said that India’s heart beats in its villages. True. India’s economic recovery will also have to begin from its villages. “It’s the economy, stupid� is an idiom coined by James Carville, the strategist of Bill Clinton’s 1992 presidential campaign. It means that when the economy of a country, is doing well, the leader and government are appreciated for everything. But, when the economy performs horribly, they get blamed for every miniscule mishap. Governments everywhere, should remember this axiom.

Aneja is a Management Consultant and worked for 28 years with Unilever in Asia, Latin America and Africa, and the Managing Director of Unilever Tanzania

15

T H I S D AY ˾ MONDAY, NOVEMBER 25, 2019

EDITORIAL NIGERIA’S 23 MILLION CHILD-BRIDES It is time to address the menace of early marriages in the society

T

he recent disclosure by the United Nations Children’s Fund (UNICEF) that Nigeria has the second highest number of child-brides in the world should worry critical stakeholders. It is shameful that no fewer than 23 million girls and women, according to UNICEF, are married out as children in the country. We cannot be tired of drumming the point that too many children and young people are being left behind, especially when it comes to education. This is a menace that will boil over except there is a proactive action by those in authority to redress it. It is noteworthy that just last year, the United Nations Educational, Scientific and Cultural Organisation (UNESCO) reported that 30 per cent of Nigerian girls aged between 15 and 19, who should still be in school, were already married. UNESCO added that only 14 per cent of girls from low-class families in the country complete THE IMPLICATION OF A primary school. CHILD ENGAGING IN EARLY Many of these girls MARRIAGE IS THAT SHE given out in early IS CONFERRED WITH marriage are of poor RESPONSIBILITIES OF AN background where ADULT FOR WHICH SHE IS the parents struggle to provide the basic NOT PREPARED needs of the family. Among other factors responsible for child marriage are ancient cultural traditions, religious and social pressures and illiteracy. Child marriage is a manifestation of gender inequality, reflecting social norms that perpetuate discrimination. In most instances, girls forced into early marriages do not know and may have never met their groom. The act is a violation of human rights and young girls who marry as children are more likely to drop out of school and have limited independence. Sadly, in Nigeria, more than half of the underage children have husbands who are sometimes older than their fathers. The implication of a child engaging in early

Letters to the Editor

marriage is that she is conferred with responsibilities of an adult for which she is not prepared. Besides, a bride child may experience complications from pregnancy and child birth, attributed as the major causes of death among adolescent girls below the age of 19 in Nigeria. Bride children are also susceptible to HIV infections, cervical cancer and obstetric fistulas while their offspring are at increased risk for premature birth and death as neonates, infants, or children. They are also prone to domestic violence, sexual and physical abuse and are at risk of death due to early childbirth.

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

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

his arbitrary practice is the cause in elevated cases of brides, who resort to killing their supposed husbands mainly by poisoning as the marriage is not consensual and contractual as demanded by law. Though there is a public outcry against under-age marriage and attempt to prohibit it by amending section 29, sub section 4 of the constitution, the practice, however, continues with all the risks it poses. Some states and influential political figures have doggedly opposed the attempt by insisting on the status quo on the pretext of religion. We call on government to address this menace in view of its consequences on women and the social economic development of the country. A bride child is denied her right to education, thus restricting both her development and contribution to the society. It also places restriction on her labour market participation and compounds global efforts to eliminate poverty. Beyond all these, we are particularly concerned that early betrothal places child brides at risk of widowhood at early age as they are significantly younger than their husbands. That risk subjugates them to economic and social challenges for a greater portion of their lives, compared to women who get married as adults. That is aside other negative consequences. We call for more concerted efforts in dealing with the menace of child bride that has become for Nigeria another emblem of shame.

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

NIGERIA’S POPULATION CONTROL: MATTERS ARISING

P

opulation control is as old as man. Empires such as the Ancient Greek, Roman, Persian, Egyptian, etc., used various methods to checkmate their population. In the 1798, an English cleric and scholar, Thomas Robert Malthus published a widely read essay on his theory of population. He raised the alarm that the population will grow exponentially while the food supply will be linear. He posited that man would suffer undue hardship if the population was not kept in check. He discussed two major ways to keep the population in check: the preventive and positive. The preventive check was when marriage is postponed and the positive is the use of famine, disease and warfare to stem the tide in the explosive population growth. His critics contend that he was proven wrong as science and technological advancements didn’t make his prediction of doom come to pass. A critical question to ask though is whether he was entirely wrong when you take into consideration the fact that Nigeria, a country he never visited, is currently sitting on a demographic time bomb if care isn’t taken. The nation’s current population as at this year is slightly over 200 million and by 2030, there is a projection that it will hit 264 million and will cross the 300 million threshold by 2036. According to the Borgen project, it will be over a billion by 2100. The issue of population control is a very delicate and controversial issue in the country due to religious and cultural beliefs. The two dominant religions: Christianity and Islam forbid

it in its entirety, opining that children are gifts from God and He will always provide for their needs. Also, children are seen as a pension plan for the parents’ old age since the government hardly caters for the welfare of the Nigerian aged people. There have been attempts by the government to control the population especially under the Ibrahim Babangida regime which advocated for the maximum of four children. All efforts have ended up in a fiasco as the religious and cultural beliefs have an extremely stronghold on the generality of the populace. While I identify as a nominal Christian, I believe that even religion and culture should evolve in order to adapt to the dynamics of the fast changing times. I think our religious and cultural leaders should be progressive enough to evolve with the fast- paced times. The idea that children should be a source of economic security is anachronistic especially for those who live in the cities. There are hardly farms in the cities and parents work long hours in companies that they have no stake in – so there is nothing to pass on to their offspring. The offspring won’t help them out with the office work. Let us face it and be honest, Nigeria is a failed state and there is no government-backed buffer to support the needy and the vulnerable members of the society. There is no 911 to call when you are distressed. How many Nigerians know the names of their elected and appointed political representatives? They only interact once in four years when the latter doles out some miserable wad

of naira notes and other perishable foodstuff which is exhausted in less than 48 hours and then they are back to square one. The cost of raising a child well in Nigeria is astronomically here because of bad governance. In a few states like Lagos for example, primary and secondary school education is free but the quality leaves much to be desired. The difference between a child educated in a public school and private school is as wide as the chasm between Heaven and Hell. Most public school graduates can hardly string few sentences in the English language. As a small time employer of labour, I am writing from my personal experiences. The cost of most good private schools – there are private schools and private schools is so high that it is often out of the reach of the middle class. Let’s be realistic: Most Nigerians are too timid to do what it takes to bring about the much desired change and have been waiting for the imaginary messiah to come since the military struck and wrecked the governance of the country. Things will get worse as days roll by. The corruption wouldn’t stop anytime soon as well as the excruciating effects of the anti-policies by the government. The realistic thing to do in this ugly circumstances is to cut one’s coat according to one’s cloth in ensuring that you have the number of children you can conveniently cater for. Even the Bible says ‘A good man should leave an inheritance for his children’s children.’ Tony Ademiluyi, Lagos

16

MONDAY NOVEMBER 25, 2019 ˾ T H I S D AY

NEWS

Buhari Gives Ministry Marching Orders for Completion of Ajaokuta Steel Company The Minister of Mines and Steel Development, Mr. Olamilekan Adegbite, has said that President Muhammadu Buhari had given marching orders to his ministry for the completion of Ajaokuta Steel Company. Adegbite disclosed this in Abuja during an interactive session with journalists on the proposed Nigerian solid minerals downstream workshop scheduled to hold December 2. The minister who spoke through his Special Adviser on Special Duties, Sunny Ekozin, said the ministry had been working ’round the clock to actualise the ‘presidential directives’. “For the past three months, we have been doing everything possible to ensure we make progress and we are happy to let the nation know that the president has given us full backing in this assignment. “The support given by the president includes political backing to ensure that Ajaokuta works and by the grace of God it will work soon,” he said. The minister also said that part of the directives by Buhari was for the sector to solve long

intractable problems bedeviling the solid minerals and to ensure Nigeria could rely on the sector to diversify its economy. He said after articulating the problems for the past three months, the administration was on the path to harnessing the potential that abound in the minerals sector for the benefit of the people in the country. Adegbite explained that one of the steps taken was the current process of developing the Nigerian Downstream Mineral Policy. According to him, the policy is first of its kind in the history of the country. “The downstream mineral policy will trigger the nation with a clear diversification blue print in a sustainable manner, especially for the revamping of Ajaokuta steel company. “And also effective harnessing of the abundant minerals endowment spread across the 36 states and the Federal Capital Territory (FCT). “As part of the process leading to the revamping of the entire solid minerals sector, we are sensitising key stakeholders, especially large investors of this novel initiative for the

development of solid mineral downstream value chains. “This will help to create massive jobs, wealth and industrialisation. Adegbite added that the

ministry was determined and committed to ensuring that the president’s mandate was realised within the next three years. He said that the present

government would stem the exports of jobs and wealth by unwittingly exporting 35 million of unprocessed mineral products annually. The minister

pledged to open the sector to genuine indigenous and foreign investors to actively participate in the downstream licensing of mineral plants.

TWO HEARTY CHEERS …

L-R: Sekuro of Niger Delta and Amanyanabo of Okochiri Kingdom, Okrika, Rivers State, His Royal Majesty, King Ateke Michael Tom (left), and Presidential Coordinator of the Amnesty Programme, Prof. Charles Dokubo, at the 2nd Coronation Anniversary celebration of King Ateke Tom in Okrika…recently

Fashola Directs Contractors to Embark on Rehabilitation Tension in Kwara over Continued Recognition of Sacked APC Lawmaker of Roads Dike Onwuamaeze The Minister of Works and Housing, Mr. Babatunde Fashola, has directed contractors handling the various roads maintenance across the country to remobilise to sites in a move to achieve shorter travel time and better travel experience in the coming Yuletide months across the country. Fashola assured the contractors that they would receive their payment before the end of the year. He gave the directive when he presided over a result-focused meeting in Abuja, which had the Corps Marshal of the Federal Road Safety Corps (FRSC), Dr. Boboye Oyeyemi; representatives of Federal Road Maintenance Agency (FERMA); Government Contractors and the Federal Controllers of Works from the States The minister said it was expedient for the major stakeholders in the road sector to brainstorm over the issue of smooth travel experience for commuters as the Christmas and New Year festivities were around the corner. Fashola said: “Because our work is interconnected, the contractors on one hand, the FRSC, on the other hand, who are on the roads every day, managing traffic, interface with the commuters, our maintenance agency, FERMA. I thought that as we normally do every year before December, we should all meet again as we get out of the rainy season and start planning for the EMBER month. “The benefit of this season is that the weather is dry, more building and construction work can take place, quarrying will be able to progress, stabilisation work will be easy as water recedes; but the major problem of the

season will be vehicular traffic, people travelling on holidays, importers and exporters moving more goods to meet the season’s demands; all those who want to eat turkey, celebrate marriages and all of that. We must plan for those people, which is why we are here,” he said. Fashola urged contractors to intervene especially on roads that fall within the purview of their ongoing contracts or which were contiguous with their contracts so they could carry out emergency works on such roads to enable smooth travel experiences for commuters during the festive season. Oyeyemi, who gave an overview of the audit report compiled by his commission about the conditions of certain portions of the roads that need urgent attention across the country, said the audit of road conditions in the country by the FRSC was necessitated by the need to evolve strategies that would ensure that the heavy movement of citizens usually associated with the end of the year did not lead to road traffic crashes, injuries and fatalities. The FRSC boss said: “The 2019 Operation Zero was initiated to vigorously enforce road traffic rules and educate road users while embarking on strategic engineering to reduce road traffic crashes on Nigerian roads”, adding that a survey of critical corridors was made nationwide to identify areas in urgent need of attention “as Nigerians across board are always on the road for business, pleasure and celebration.” He said the repairs of the identified bad parts on the major corridors would go a long way to aid smooth vehicular movement during the festive period and consequently reduce injuries and fatality on Nigerian roads.

Hammed Shittu in Ilorin Tension now mounts in Kwara State over the purported continued recognition by the Speaker of Kwara State House of Assembly (KSHA), Hon. Yakub Danladi, of the All Progressives Congress’ (APC) lawmaker representing Ilorin East and Ilorin South’s state constituency, Hon. Abdulazeez Hassan Elewu that was sacked one month ago by the Court of Appeal. Elewu, in spite of his removal by the Court of Appeal over his

eligibility as the APC’s candidate during the last general election, has been attending legislative sitting at the assembly complex. The Court of Appeal affirmed the election of Abdulraheem Agboola as the lawmaker representing Ilorin East and Ilorin South constituency in the KSHA. The judgment, which was delivered by Justice Hamman Barkar Hkawu, ordered the Independent National Electoral Commission (INEC) to issue the PDP’s candidate, Agboola,

with certificate of return. The court based its decision on the disputed APC’s primaries which produced Suleiman Abdulsalam and was later replaced with a 28-year-old Elewu. The Appeal Court held that APC had no valid candidate for the 2019 House of Assembly elections and thereby declared the candidate with the second highest votes, which was the PDP candidate, Agboola, winner of the election. However, Danladi is yet to

swear-in Agboola as lawmaker representing Ilorin East/Ilorin South’s state constituency. THISDAY checks revealed that the entire move by Agboola to be sworn in as lawmaker proved abortive because Elewu is still in possession of the certificate of return at the expense of winner at the Court of Appeal. It was alleged that Agboola visited the INEC’s state headquarters in Ilorin to collect the certificate of return to no avail.

Amaechi Targets April 2020 for Completion of Lagos-Ibadan Railway Minister of Transportation, Hon. Chibuike Amaechi, has stated that the Lagos-Ibadan rRailway project will be completed in April 2020. This is even as he reassured that test-running of the train would commence by the end of November 2019. Amaechi reiterated that with the pace at which the contractors are currently working, he was optimistic that the completion period would be achieved.

The minister gave the hint last Saturday shortly after inspecting the project site in Ibadan, the Oyo State capital. According to him, “We are no longer giving ourselves the time; the contractors are the ones giving us time. By April next year, we should be out of this place. There is huge improvement compared to the last time we were here. The contractors have assured us that by December 20 this

year, the laying of tracks would have gotten to Ibadan station. This means that the focus will no longer be on the tracks but on the completion of the stations, communication and Signal operations, and once we achieve all that, it means we are out of Ibadan.” Amaechi said: “They are eager to complete the stations but the constraint at the moment is that the equipment have not arrived from China, and our

argument is that they should get some things from Nigeria. They are expecting pipes and other things, and they requested that we should give them one or two months to complete the stations. They equally wanted to import glasses and doors from China but we have to put pressure on them to buy those glasses and doors in Nigeria in other to quicken the time with which they would install them.”

Air Peace: America Only Goes after Law Breakers, Says Buhari’s Aide President Muhammadu Buhari’s Personal Assistant on Social Media, Lauretta Onochie, has said the United States only goes after those who flout the country’s laws and advised the Chief Executive Officer of Air Peace, Allen Onyema, to go to the United States to clear his name. The President’s aide said this in a series of tweets yesterday. Onochie said, “I do not

understand what President Buhari has to do with Mr. Onyema of Air Peace being indicted and charged in the USA. According to our AttorneyGeneral, the federal government has not even been informed of the situation. “American laws go after those who break them. What a man sows… How much has Nigeria invested in the Niger Delta amnesty programme, NDDC

and 13 per cent derivation funds? All, mostly in a black hole (sic). “Do we know the extent of poverty, ignorance and disease in the Niger Delta? Please let America too help us see how Niger Delta underdeveloped Niger Delta. Those of us from the Niger Delta who are the direct beneficiaries of the suffering that emanated from the looting of our wealth will tackle them. It

is our war that is being fought. “Laws, Nigerian or American, go after those who break them; so we must mind our business. QED! We are smarter now than ever before. Gradually, the scales of tribalism, religious affinity and political loyalty are falling off our eyes and being replaced by Nigerianism. Nigerians are not keen on tales by moonlight. Let him return to America to face his accusers.”

MONDAY NOVEMBER 25, 2019 • T H I S D AY

17

18

T H I S D AY ╦╛ MONDAY ╦╛ NOVEMBER 25, 2019

Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

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

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

When Purveyors Of Hate Speech Become Lawmakers Ojo Maduekwe writes that the proposed Hate Speech Bill may be used as a cover to attack Nigerians whose opinion or criticism of government oямГcials and policies they ямБnd oямАensive

Tinubu

Buhari

тАЬGod willing, by 2015, something will happen. They either conduct a free and fair election or they go a very disgraceful way. If what happened in 2011 should again happen in 2015, by the grace of God, the dog and the baboon would all be soaked in blood.тАЭ

5

IF BCPWF RVPUF JT DSFEJUFE UP 1SFTJEFOU .VIBNNBEV #VIBSJ JO B XJEFMZ SFQPSUFE TQFFDI CZ -JLB #JOOJZBU JO B OBUJPOBM OFXTQBQFS PO .BZ "U UIF UJNF PG UIF RVPUF #VIBSJ XBT B QSFTJEFOUJBM DBOEJEBUF PG UIF $POHSFTT GPS 1SPHSFTTJWF $IBOHF $1$ BOE IBE MPTU UIF QSFTJEFOUJBM FMFDUJPO UP UIF DBOEJEBUF PG UIFO SVMJOH 1FPQMFT %FNPDSBUJD 1BSUZ 1%1 (PPEMVDL +PBOUIBO JO XIBU XBT EFTDSJCFE BT POF PG UIF GBJSFTU FMFDUJPOT JO /JHFSJB T IJTUPSZ 5IF CBDLHSPVOE UP UIJT #VIBSJ TUBUFNFOU JT SPPUFE JO UIF TBE FWFOU PG UIF QPTU FMFDUJPO WJPMFODF *OTQJSFE CZ B MJUBOZ PG IBUF TQFFDIFT GSPN QFPQMF TVDI BT UIF GPSNFS (PWFSOPS PG PME

QUICK FACTS: r5IF 6OJUFE /BUJPOT EFGJOFT )BUF 4QFFDI BT iBOZ LJOE PG DPNNVOJDBUJPO JO TQFFDI XSJUJOH PS CFIBWJPS UIBU BUUBDLT PS VTFT QFKPSBUJWF PS EJTDSJNJOBUPSZ MBOHVBHF XJUI SFGFSFODF UP B QFSTPO PS HSPVQ PO UIF CBTJT PG XIP UIFZ BSF JO PUIFS XPSET CBTFE PO UIFJS SFMJHJPO FUIOJDJUZ OBUJPOBMJUZ SBDF DPMPVS EFTDFOU HFOEFS PS PUIFS JEFOUJUZ GBDUPS r5IF &VSPQFBO $PNNJTTJPO BHBJOTU 3BDJTN BOE *OUPMFSBODF XIJMF BDLOPXMFEHJOH IBUF TQFFDI BT BO FYUSFNF GPSN PG JOUPMFSBODF XIJDI DPOUSJCVUFT UP IBUF DSJNF CFMJFWFT UIBU iDSJNJOBM TBODUJPOT TIPVME CF VTFE BT B NFBTVSF

Lawan

,BEVOB 4UBUF "MIBKJ -BXBO ,BJUB 4FOBUPS 4IFIV 4BOJ XIP BU UIF UJNF XBT B ,BEVOB CBTFE DJWJM SJHIUT BDUJWJTU BOE %S +VOBJEV .PIBNNFE BT FMFDUJPO SFTVMUT USJDLMFE JO PO "QSJM TFFJOH UIBU UIFJS DBOEJEBUF IBE MPTU TVQQPSUFST PG #VIBSJ UPPL UP UIF TUSFFUT JO QSPUFTU 'SPN UIF CVSOJOH PG UJSFT UIF QSPUFTUT MBUFS UVSOFE JOUP TFDUBSJBO BOE FUIOJD LJMMJOHT BDSPTT UIF OPSUIFSO TUBUFT PG ,BOP ,BEVOB ,BUTJOB "EBNBXB #BVDIJ #PSOP :PCF (PNCF +JHBXB /JHFS ;BNGBSB BOE 4PLPUP 5IF QSPUFTUFST XIP XFSF OPSUIFSOFST UBSHFUFE UIPTF XIPN UIFZ UIPVHIU UP CF 4PVUIFSOFST *O SFUVSO JO QBSUT PG TUBUFT MJLF ,BOP XJUI BSFBT UIBU XFSF QPQVMBUFE CZ 4PVUIFSOT UIFSF XFSF SFQSJTBM BUUBDLT #Z UIF UIJSE EBZ QFPQMF XFSF LJMMFE *U XBT UIJT VOGPSUVOBUF FWFOU UIBU #VIBSJ XBT SFGFSSJOH UP JO UIF PQFOJOH RVPUF )JT UIFO QBSUZ UIF $1$ XPVME MBUFS NFSHF XJUI UIF "DUJPO $POHSFTT PG /JHFSJB "$/ UIF "MM /JHFSJB 1FPQMFT 1BSUZ "/11 B GBD-

UJPO PG UIF "MM 1SPHSFTTJWFT (SBOE "MMJBODF "1(" BOE UIF OFX 1%1 B GBDUJPO PG UIFO SVMJOH 1%1 UP GPSN UIF "MM 1SPHSFTTJWFT $POHSFTT "1$ *O XIBU XBT TFFO BT B IJTUPSJD FWFOU UIF "1$ XPVME HP PO UP XJO UIF QSFTJEFOUJBM FMFDUJPO 1PMJUJDBM PCTFSWFST IBWF SJHIUMZ BSHVFE UIBU UIF SVMJOH "1$ SPEF UP QPXFS PO UIF CBDL PG IBUF TQFFDI 0O +VMZ B QPQVMBS OFXT NBHB[JOF RVPUFE UIF OBUJPOBM MFBEFS POF PG UIF LFZ BSDIJUFDUT PG UIF "1$ BOE B GPSNFS HPWFSOPS PG -BHPT 4UBUF "TJXBKV #PMB "INFE 5JOVCV TBZJOH i*U JT HPJOH UP CF SJH BOE SPBTU 8F BSF QSFQBSFE OPU UP HP UP DPVSU CVU ESJWF UIFN PVU u .POUIT CVJMEJOH VQ UP UIF QSFTJEFOUJBM FMFDUJPO UIFSF IBE CFFO UBMLT PO TPDJBM NFEJB CZ TVQQPSUFST PG UIF "1$ BOE #VIBSJ PG HJWJOH UIF DBOEJEBUF PG UIF 1%1 (PPEMVDL +POBUIBO UIF i(CBHCP 5SFBUNFOUu JO SFGFSFODF UP UIF IVNJMJBUJOH PVTUJOH PG GPSNFS *WPSZ $PBTU QSFTJEFOU -BVSFOU (CBHCP XIP XBT QSFTJEFOU VOUJM IJT BSSFTU JO "QSJM CZ B GBDUJPO PG

PG MBTU SFTPSUu BOE UIBU iB CBMBODF NVTU CF LFQU CFUXFFO GJHIUJOH IBUF TQFFDI PO UIF POF IBOE BOE TBGFHVBSEJOH GSFFEPN PG TQFFDI PO UIF PUIFS u r5IF %FQVUZ 4FOBUF 8IJQ 4FOBUPS "MJZV "CEVMMBIJ 4BCJ IBT TQPOTPSFE B CJMM LOPXO BT A" #JMM GPS BO "DU UP 1SPWJEF GPS UIF 1SPIJCJUJPO PG )BUF 4QFFDIFT BOE GPS 0UIFS 3FMBUFE .BUUFST XIJDI TFFLT UP FOTVSF OBUJPOBM DPIFTJPO BOE JOUFHSBUJPO CZ PVUMBXJOH VOGBJS EJTDSJNJOBUJPO IBUF TQFFDIFT BOE UP QSPWJEF GPS FTUBCMJTINFOU PG QPXFST BOE GVODUJPOT PG BO *OEFQFOEFOU /BUJPOBM $PNNJTTJPO GPS UIF 1SPIJCJUJPO PG )BUF 4QFFDIFT r0OF PG UIF NPTU DSJUJDJTFE QSPWJTJPO PG UIF CJMM JT UIF QSPQPTFE EFBUI QFOBMUZ UP QFSTPOT GPVOE HVJMUZ PG IBUF TQFFDI

" QSPWJTJPO JO UIF CJMM XBT NBEF GPS EFBUI TFOUFODF CZ IBOHJOH GPS BOZ QFSTPO GPVOE HVJMUZ PG IBUF TQFFDI UIBU SFTVMUT JO UIF EFBUI PG BOPUIFS QFSTPO r1PMJUJDBM PCTFSWFST IBWF SJHIUMZ BSHVFE UIBU UIF SVMJOH "1$ SPEF UP QPXFS PO UIF CBDL PG IBUF TQFFDI r(FOFSBMMZ FTQFDJBMMZ EVSJOH FMFDUJPOT QPMJUJDJBOT JO /JHFSJB VTF IBUF TQFFDI BT B EJWJEF BOE SVMF UBDUJD FNQMPZJOH TBNF CFGPSF BOE EVSJOH FMFDUJPO DBNQBJHOT UP JODJUF BO BMSFBEZ EJWJEFE QFPQMF GPS UIFJS QSPGJUJOH r/JHFSJBOT BSF XJUOFTT UP IPX JU XBT IBUF TQFFDI UIBU MFE UP UIF QPTU FMFDUJPO WJPMFODF UIBU LJMMFE QFPQMF BDSPTT OPSUIFSO TUBUFT JO B TQBDF PG UISFF EBZT r*O UIF CVJME VQ UP UIF FMFD-

UIF DPVOUSZ T NJMJUBSZ GPVS NPOUIT BGUFS JU XBT BOOPVODFE UIBU IF IBE MPTU SFFMFDUJPO 5IF GJSTU SFDPSEFE FWJEFODF PG B (CBHCP 5SFBUNFOU XBT NVUFE CZ 0MVTFHVO 0CBTBOKP JO BO JOUFSWJFX XJUI KPVSOBMJTUT JO 'FCSVBSZ JO "CFPLVUB 0HVO 4UBUF "T B GPSNFS QSFTJEFOU VOEFS UIF 1%1 0CBTBOKP VTFE UP CF B TVQQPSUFS PG UIF UIFO 1%1 MFE GFEFSBM HPWFSONFOU IPXFWFS TPNF NPOUIT MFBEJOH UP UIF HFOFSBM FMFDUJPO IF CFDBNF B TUBVODI DSJUJD PG UIF +POBUIBO BENJOJTUSBUJPO BOE TXJUDIFE UP CBDLJOH #VIBSJ BOE UIF "1$ *O B WFJMFE SFGFSFODF UP XIBU PCTFSWFST XPSSJFE XBT UIF KPLFS UIF "1$ XBT TDIFNJOH TIPVME UIF QSFTJEFOUJBM FMFDUJPO HP JO UIF XBZ PG UIF 1%1 0CBTBOKP OPUFE UIBU BGUFS (CBHCP MPTU B SVO PGG FMFDUJPO CZ FJHIU QFSDFOU iIF SFCVGGFE BMM SFBTPOBCMF QFSTVBTJPO BOE QMFBEJOH VOMFBTIJOH IPSSPS JOTUFBE VOUJM OFNFTJT DBVHIU VQ XJUI IJN * CFMJFWF UIBU XF NBZ CF TFFJOH UIF SFQFBU PG (CBCHP PS XIBU UJPOT EFTQFSBUF UP XJO UIF QSFTJEFOUJBM FMFDUJPO UIF "1$ OPU POMZ FODPVSBHFE IBUF TQFFDIFT CVU BMTP FNQMPZFE IBUF TQFFDI BT BO VOTUBUFE QBSUZ QPMJDZ r*O FYUSFNF JOTUBODFT IBUF TQFFDI IBT MFE UP UIF EFBUI PG QFSTPOT r1PMJUJDBM PCTFSWFST IBWF BSHVFE UIBU UIF SVMJOH "1$ EPFT OPU IBWF UIF NPSBM SJHIU UP BEESFTT UIF JTTVF PG IBUF TQFFDI r+VTUJGJDBUJPO GPS DSJUJDJTN PG UIF CJMM IBT JUT SPPU JO UIF BSHVNFOU UIBU UIF QSPNPUFST GBJMFE UP DMFBSMZ EFGJOF IBUF TQFFDI r5IF CJMM JT CFJOH DSJUJDJTFE BT DBQBCMF PG HJWJOH BHFOUT PG UIF HPWFSONFOU BOE QVCMJD PGGJDJBMT JO HFOFSBM UIF DPWFS UP BUUBDL /JHFSJBOT XIPTF PQJOJPO PS DSJUJDJTN PG HPWFSONFOU PGGJDJBMT BOE QPMJDJFT UIFZ GJOE PGGFOTJWF

19

T H I S D AY ˾ MONDAY ˾ NOVEMBER 25, 2019

MONDAY DISCOURSE

Obasanjo

Jonathan

Sani

Mohammed

I call Gbagbo saga here in Nigeria, I hope not.” Everyone knows that the “Gbagbo saga” in Ivory Coast resulted in the humiliating ousting of the former president, and therefore, although he attempted to cleverly mask it, Obasanjo’s canvassing of the Gbagbo Treatment tied perfectly well into Tinubu’s outburst that “It is going to be rig and roast. We are prepared not to go to court but drive them out.” Generally, especially during elections, politicians in Nigeria use hate speech as a divide and rule tactic, employing same before and during election campaigns to incite an already divided people for their profiting. Nigerians are witness to how it was hate speech that led to the 2011 postelection violence that killed 800 people across 12 northern states in a space of three days. And how in the build up to the 2015 elections, desperate to win the presidential election, the APC not only encouraged it, but also employed hate speech as an unstated party policy. Late December 2014, at a news conference in Lagos that had the APCs who-is-who at the time in attendance, the then APC Presidential Campaign Organisation DG, and then governor of Rivers State, Chibuike Amaechi, endorsed the incidents of mutiny by some soldiers who had earlier protested the poor equipment in the fight against the Boko Haram insurgent group. During the incident, in flagrant disregard to their rules of operation, it was reported that the soldiers while protesting had fired gunshots into the air, creating panic in the process. Playing to the gallery, as it was the APC style, Amaechi rationalised the protest saying, “The soldiers have the right to protest for the federal government’s failure to fully equip them.” It would be difficult for the APC to argue that the use of hate speech was not a strategy or policy of the party when in November 2014, its then Publicity Secretary, and now Minister of Information and Culture, Lai Mohammed, said, “If the 2015 elections are rigged, the party will not recognize the outcome and will go ahead and form a parallel government.” APC had recognised the importance of social media in helping them win the election; so every time party stakeholders like Tinubu and Mohammed made divisive comments, hundreds of their supporters on social media would disseminate the hateful comments on several social media platforms. More than any other party in the history of elections in Nigeria, the APC took

advantage of the loosely regulated social media to incite Nigerians against the PDP, riding on the back of hate speech to claim victory in the hotly contested 2015 elections. The 2015 general election was among Nigeria’s most divisive in history. When hate speech peaked during campaign for the 2015 presidential election, the APC excused it as a means via which Nigerians were expressing their displeasure of the Jonathan-led PDP government which had become unpopular. Thinking that Jonathan would refuse to relinquish power, they were willing to milk the barrage of hate speech on social media and traditional media, and had rationalised any idea to curb the menace as an attack on free speech. When the military under Jonathan, following “intelligence reports” that some people wanted to use some newspapers as vehicles to convey “materials with grave security implications across the country”, had seized and in some cases destroyed newspapers belonging to select media houses, the APC was quick to tag that action as a war on the media. While the then government was worried about the media’s too much focus on Boko Haram, Mohammed had pontificated that any over-reporting of the group was only a mirror of the society. It did not come as a surprise that the APC saw nothing wrong with the over-reporting, and in some instances, the misinformation of the activities of the terrorist group, because it favoured their projection of the Jonathan administration as incompetent and unfit to lead Nigerians. Just as the accusation of the over-reporting of Boko Haram profited the APC, the party’s candidate, Buhari, also profited from the insecurity when he described military actions against Boko Haram members as an attack on the entire northern region. Based on these incidents, political observers have argued that the ruling APC does not have the moral right to address the issue of hate speech. When the party was still scheming to lead the country, social media was a favourite tool for its mass criticism of the party in power, and in the dissemination of propaganda materials. However, two years after winning the 2015 elections, it began toying with the idea of clamping down on social media. Recently the Minister of Information and Culture, Mohammed, said the plans by the federal government to regulate the social media was already underway and there was no going back. The Deputy Senate Whip and sponsor of the bill, Senator Aliyu

Abdullahi Sabi, has himself justified the proposed death penalty, saying that there’s no going back on the bill. Known as ‘A Bill for an Act to Provide for the Prohibition of Hate Speeches and for Other Related Matters,’ it carries an altruistic toga of national cohesion and integration by outlawing unfair discrimination, hate speeches and to provide for establishment of powers and functions of an Independent National Commission for the Prohibition of Hate Speeches. Defined by the United Nations as “any kind of communication in speech, writing or behavior, that attacks or uses pejorative or discriminatory language with reference to a person or group on the basis of who they are, in other words based on their religion, ethnicity, nationality, race, colour, descent, gender or other identity factor”, there’s a thin line between the enforcement of hate speech and infringement of a person’s freedom of speech. In extreme instances, hate speech has led to the death of persons. Again, we make reference to the 2011 post election violence where 800 people were killed. Months and weeks leading up to the election, there were several recorded hate speeches that characterised campaigns. For example, Alhaji Lawan Kaita, was quoted in 2010 as saying, “The North would make the country ungovernable if President Goodluck Jonathan wins the 2011 polls”, and Dr. Junaidu Mohammed said, “It must be a Northerner or no Nigeria…” So, the danger of hate speech has been well catalogued for Nigerians to see. As stated earlier, the problem, however, with trying to regulate the social media is that there’s a thin line between that and trampling on people’s right to free speech. Several commentators on the controversial social media bill being sponsored by Senator Sabi Abudllahi, such as associate professor of Political Science at Nasarawa State University, Jideofor Adibe, have stressed the ambiguity of the bill to clearly differentiate hate speech from offensive speech. According to Adibe, as a result of this failure to clearly define hate speech in a manner that distinguishes it from offensive speech, the bill is being criticised as capable of giving agents of the government and public officials in general the cover to attack Nigerians whose opinion or criticism of government officials and policies they find offensive. Other critics such as director of the International Press Centre, Lanre Arogundade, considers the bill as a waste of Nigeria’s resources, and a

duplication of already existing laws. Speaking in an interview with Arise TV, Mr. Arogundade said, “the fact that our senate wants to establish a national commission for the prohibition of whatever they call hate speech, and my first instinct would be to say that this will be an absolute waste of public resources,” asking that Nigeria’s national broadcasting policy be amended instead in such a way as to accommodate the regulation of the internet and social media use. During a courtesy visit to the Minister of Information and Culture, Mohammed, the Nigeria Union of Journalists (NUJ), the umbrella body for journalists in Nigeria, in an address by its president, Chris Isiguzo, stated that “the NUJ will not support this bill which if ultimately passed could be used to silence the media and perceived political opponents.” The general outcry against the bill is the death sentence attached to it. Both the UN and the United Kingdom have opposed the inclusion of the death penalty. So, a provision in the bill was made for death sentence by hanging for any person found guilty of hate speech that results in the death of another person. Justification for this criticism has its root in the argument that the promoters of the bill failed to clearly define hate speech. Also, the critics are of the opinion that the provision for death sentence should be removed from the bill, proposing other measures to curb the menace. Rather than condemning hate speech merchants to death, the burden should be placed on the social media platforms used in expressing hate speech. Focus should be on self-regulation by social media platforms, the adoption of codes of conduct accompanied by sanctions for non-compliance. Adibe in his opinion published by the Brookings Institution, suggests that a list of what constitutes hate and offensive speeches be incorporated by media organisations as “part of good journalistic practice”, with sanctions imposed on erring organisations. The European Commission against Racism and Intolerance (ECRI), while acknowledging hate speech as an extreme form of intolerance which contributes to hate crime, believes that “criminal sanctions should be used as a measure of last resort”, and that “a balance must be kept between fighting hate speech on the one hand, and safeguarding freedom of speech on the other.” According to the organisation, restrictions on hate speech should not be misused to suppress criticism of official policies, political opposition or religious beliefs.

20

T H I S D AY Ëž Í°ÍłËœ Ͱ͎ͯ͡

FEATURES

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

Anambra Flood Victims Cry for Help In Anambra, flooding has become an annual crisis. This year was not an exception, and the victims, who have also had their fair share of suffering, are calling for help from revelevant authorities. David-Chyddy Eleke who visited the areas reports

Vice President, Prof Yemi Osinbajo, Governor Willie Obiano of Anambra State and Dr Chris Ngige, during a tour of ooded Anambra communities

Flood ravaged areas of Anambra State

Ofe ood

Relief materials on the way to the ooded area

I

t is November already, so the harmattan season is supposed to have commenced. If it had, that would have signaled the end of the rainy season for the year, and water level in flood ravaged areas in Anambra State would have gone down, and flood victims who are currently holed up in various Internally Displaced Person’s (IDPs) camps would have been preparing to return to their homes to salvage what is left of their properties. This is however not so as instead, the water level in at least three local government areas in Anambra State, namely; Ogbaru, Anambra East and Anambra West council areas have continued to rise. The implication is that, instead of the IDPs preparing to go back home, more people who live in seemingly upland areas of the local government areas are being hit by the flood, forcing them to abandon their homes for the holding centres. Most worrisome is the plight of the people in the camps, as the surge in the number of displaced people has caused a shortage of virtually everything that is needed to make life a little worth living in the camp. There is shortage of space, sleeping materials, water, bathing

buckets, and many more, not to talk of food, which children in the camp now steadily cry for. As this reporter approached Atani in Ogbaru Council Area, which serves as one of the camps for displaced persons, the hunger and lack in the camp were evident as women mostly sat despondently in various corners, wearing long faces, while others were seen either washing or trying to give their children attention, all scantily clad and looking malnourished. In Ogbaru, it is not the first time of most of the IDPs to be in the camp as previous years have also seen them staying months in the camp for water to recede before they can go home. But from interactions with them, one thing has become constant every year too; "We must experience hunger in the camp every year�, one of the women who identified herself as Dora said. She added, "our condition every year has become a kind of blessing to some people. Even though we always hear that the state government has prepared ahead of time for people who will be displaced by flood, when we reluctantly move into the centres, feeding becomes a problem. If you look around, you

will not see our men, most of them have gone out to work or to access the extent of damage in our homes, and before they come back, they bring food for their wives and children. Woe betide you if you do not have a husband and you are staying here. When other families will go to one corner to eat, your children will just be looking at them and waiting for camp food which comes once a day sometimes and is never sufficient." Government Embarks on Assessment Recently,, the Anambra State Emergency Management Agency (SEMA) embarked on an assessment tour of various communities effected by flood disasters in order to ascertain water levels. The assessment, which was carried out at Ogbaru, Anambra East and Anambra West Local Government Areas, which are the three council areas affected by flood, was to help SEMA to present situation reports to the state government. SEMA, Executive Director, Mr Cyprain Agupugo who was represented by Executive Assistant to the governor on SEMA (Media), Mr Emeka Obinwa said that with rising level of water, more victims have been moved into holding centres.

He said, "The situation of things has driven many victims into the holding centres. This is what we saw at Atani and some of the victims go about their daily activities and retire to the centres. The rising level of water witnessed in recent times, has orchestrated a surge in the number of victims.� Agupugo noted that the victims were pleading for assistance, especially food items as they had exhausted those distributed to them about weeks ago. According to him, most of the areas visited have been completely submerged as houses, farmlands, churches and schools are already underwater. Attendant Effect on Academics When THISDAY enquired from some of the women how their children attend schools since after they were displaced by the flood and learnt that the education of their children has also received a big blow as a result of the flood. Most of the victims who were displaced in far away Akiri Ozizor village, and other riverine communities in the local government had only one option, which was to join other pupils in Atani primary school. Over five schools in the area have their pupils merged into one to

21

T H I S D AY Ëž Í°ÍłËœ Ͱ͎ͯ͡

FEATURES

L-R: Benue State Commissioner for Information, Culture and Tourism, Hon. Ngunan Addingi; CBN Head of Humanitarian, Rev. John Kalma; and Benue State SEMA Representative and Head of Operations Blessings Medical Team, Elisha Dokyong

Ready-to-eat-meal

Children at the Gbajimba LG camp eating the ready-to-eat Jollof Rice and Spaghetti

IDP’s taking their packs of ready-to-eat meal home

The IDP camps

be taught in Atani primary school. Displaced people who spoke with reporters including Mrs Ebele Nwachukwu pleaded with government for more aids in food items to save them and their children from starvation. She said, "The condition here is so bad that our children no longer go to school because a child here, in the holding centre was almost carried away by floodwaters on his way from school.’’ Agupugo corroborated the above, saying, "It is a sad story, the situation is really treacherous and devastating because most of this people now do

their daily activities on water. School children have been displaced and in some upland areas, you will find out that children from different schools are merged and taught together in the same school, because those living in flood ravaged area can not go to their schools." He assured victims of government’s readiness to work with relevant authorities to bring about the desired assistance to them. Appeal for Food Chairman, 2019 Flood Relief Committee,

Ogbaru LGA, Mr Nnamdi Esimai while speaking thanked the state government for making available relief materials that were distributed to victims through SEMA three weeks ago. He however lamented that more victims were increasing in the holding centres on daily basis due to the rising water level. He said, "To my surprise, rather than the water to recede, it is increasing. So, with the number of victims, they have increased to more than the original number in the camps. We plead with the state government to provide more relief materials, especially food items,

as the people have been worried and hungry." Another displaced person, Mr Sunday Ogulo, said that this year ’s flooding had become more unbearable because unlike other years, the floodwaters would have started receding by this time of the year. While pleading with government to come to their aid, he however thanked Governor Willie Obiano and Ogbaru LGA Chairman for their efforts at ensuring that affected victims were well accommodated, although he lamented that they lack in the area of feeding.

22

MONDAY NOVEMBER 25, 2019 •T H I S D AY

23

T H I S D AY Ëž Ëœ Í°ÍłËœ 2019

BUSINESSWORLD

Group Business Editor Obinna Chima

Email obinna.chima@thisdaylive.com 08152447875

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

REPO 4.43 3.71

CALL 1-MONTH 3-MONTH

Ͳ˛Ͱͳ ͜ ͜˛Ͱͳ

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

ͲͳͰ˛ͯ͜Ϲ ͎˛͎͹Ϲ Ͱ˛ͯ͡Ϲ

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

͡˛ʹ;Ϲ Ͱʹ˛ʹ;Ϲ

EXCHANGE RATE N306.90/1US DOLLAR* ĚŠ

Quick Takes Glo Sponsors Shell Cooperative Exhibition

National telecoms service provider, Globacom said it was a prominent featureattheShellStaCooperativeInvestmentandThriftSocietyLimited (COOPLAG)Trade Expo which held recently in Lagos. Globacom was the oďŹƒcial telecommunications partner of theTrade Expo for the second year running. A statement explained that t the event, Globacom displayed several of its products and services for individual and corporate customers including , teleconferencing, customized and pocket-friendly Closed User Group packages, competitive postpaid services designed to meet customer demands, broadband packages, data bundles, WiFi and MiFi bundles and devices, along with other telecoms hardware and devices. The company also used the occasion to remind customers of its ongoing ‘Recharge and Win Big’ promo, also known as, ‘My Own Don Beta’ promo. GlobacomoďŹƒcialswerealsoonhandtooerquickproductdemonstrations, respond to customer inquiries and proer solutions to customer complaints. Opening the Trade Fair on the ďŹ rst day, Shell COOPLAG President, Mr. Akinrotimi Akintomide, thanked Globacom for its sustained support for the annual Fair. According to him, the idea of the exhibition was to avail Shell COOPLAG members and other categories of visitors the opportunity to get quality products and services from manufacturers and vendors at competitive rates. Head of Oil and Gas, Enterprise Business, Globacom, Mr. Adekunle Adeleke, said the company was delighted to support the exhibition, adding that Globacom seized the occasion of the exhibition to interact with its teeming subscribers.

CIN to Induct New Members

LAGOS IS OPEN FOR INVESTMENT

Lagos State Governor, Mr. Babajide Sanwo-Olu (left), exchanging a gift with the President of China Development Bank, Mr. Quyang Weimin, at the bank’s headquarters in Beijing‌recently

SEC Engages PenCom, AMCON to Deepen Stock Market Liquidity Stories by Goddy Egene The Securities and Exchange Commission (SEC) is engaging the Pension Commission (PenCom) and the Asset Management Corporation of Nigeria (AMCON) on securities lending as part of efforts to deepen the capital market. Securities lending is the act of loaning a stock, derivative or other security to an investor or firm. Securities lending requires the borrower to put up collateral, whether cash, security or a letter of credit and PenCom and AMCON, who are major stakeholders in the market have been viewed as key to success of securities lending. Speaking at the third quarter post Capital Market Committe

CAPITAL MARET (CMC) news conference in Lagos at the weekend, the acting DirectorGeneral, SEC, Ms. Mary Uduk said the commission was discussing with PenCom on modalities which would permit Pension Fund Administrators (PFAs) to participate in securities lending. She said: “We have been engaging not only PenCom but all local institutional investors that have substantial holding of equities and the essence of having this securities lending is to actually deepen our market. All of us are contributing to our own pension accounts and these PFAs are buying equities. “What they do is to buy and

hold, they don’t sell and they hold it, so the essence of securities lending is to now to give room for them to make money and so that the money will now add up to their own contribution fund. “We have a framework which has been approved and we are encouraging the market to go into self-lending by meeting these institutional investors. Pension is the highest institutional investor in our market, they will now lend out these securities and when they lend out, it will be credited back to the pension fund account. At the end of the contract, they will get their securities back. Instead of holding the securities they are making money out of it, that is the essence. “So, we are engaging PenCom

to see it as an investment opportunity and they have bought into the idea. “We are discussing to see how they can be able to come up with their guideline based on their provision of the Act to allow securities lending to take place.� She said in addition, SEC was engaging AMCOM, which is another institutional investor in the market. It is a holistic approach to have a win-win situation in our market,� Uduk said. Speaking on unclaimed dividends, she said SEC was working hard to tackle the challenge. According to her, the unclaimed dividends, Uduk attributed the Continued on page 24

Shareholders Canvass Use of Capital Market for Infrastructure Financing The Independent Shareholders Association of Nigeria (ISAN) has stressed the need for the federal government use the nation’s capital market to address the country’s infrastructure challenges. ISAN National Coordinator, ISAN, Mr. Adeniyi Adebisi, stated this in Lagos, while speaking on the high points of the association’s forthcoming sixth triennial delegates conference and Gala Night. According to him, said there should be conscious efforts by government and stakeholders to

CAPITAL MARET open up the capital market to tackle the country’s infrastructure deficit. He said that the conference themed: “Elevating the Nigerian Capital Market for Global Visibility�, would expose the potential of the capital market in addressing infrastructure challenges. “These days and times, we believe that conscious efforts should be made to open up our capital market to the whole

wide world through which funds for infrastructural development can flow in. “When this is done and government leaves the responsibilities of infrastructure to private enterprises who will be confident that they will be able to raise any level of capital required from local and foreign sources,� Adebisi said. He stated that the conference is a three-year event that brings ISAN members and all strategic stakeholders together to address issues affecting the capital market and the economy in general.

Adebisi said the event, which would take place this Wednesday, offers an avenue to address issues that are pertinent to economic development and corporate governance. The Head, Debt Capital Markets, FBNQuest Merchant Bank Limited, Oluseun Olatidoye, had previously said the federal government could tap into the capital markets for fund, using infrastructure bonds and other long term debt securities, for the development of various

The Compliance Institute, Nigeria (CIN) is set to induct new members into the institute. The inductees would be student members who successfully completed the professional examinations and certiďŹ cations of the institute in 2019.There would also be award of prizes to deserving top performers in the examinations. Also expected at the ceremony are corporate titans from dierent sectors. SpeakingatamediabrieďŹ nginLagosrecently,thePresident,Compliance Institute of Nigeria, Mr. Pattison Binadeigha, said a total of 276 members successfully qualiďŹ ed for the award of the Institute’s compliance professional qualiďŹ cations in examinations conducted in 2019. He stated that the institute has 262 members, who took and passed the Designate, Compliance Professional (DCP) examinations, noting that the institute would be inducting six Associate, Compliance Institute, Nigeria (ACIN) who applied and got exemptions as compliance practitioners with the requisite qualiďŹ cations and experience) and eight Honorary Fellowships of Fellow, Compliance Institute, Nigeria (FCIN) CertiďŹ cations and all the certiďŹ cates will be oďŹƒcially awarded. Binadeighaexpressedhopethatthecropofprofessionalstobeinducted would help reshape the corporate compliance culture in Nigeria, Africa and the world. He said: “The skills, knowledge and expertise that they have gained will enhance their professional competencies and enable them to secure good compliance jobs and professional dignity that will help you provide value added services to their employers, thus furthering the standards and developments of the compliance profession.

Firm Launches Online Fitness Platform

Fitness Fair Nigeria Limited has launched an online platform known as ‘Choose life,’ as part of measures to improve corporate wellness and promote healthy lifestyle among Nigerians. Speaking at an event in Lagos, yesterday, the Chief Executive OďŹƒcer, Fitness Fair Nigeria Limited, Dr. Uganze Eke, said the product was borne out the work of the company in corporate wellness, adding that the entire experience was born out of a passion to see people have the tool, the knowledge and the motivation to the right things to do, “and that is what gavebirthtothenamechooselife.â€? Shesaidlifeisabalanceandadetermination to do the right thing especially in, “our environment, Nigeria is not an easy place to live in because the stress levels are high.â€? Eke decried the attitude of most Nigerians who look down on natural foods and prefer junks, stating that the challenge was on the right thing to do and most people didn’t have the right information. According to her, “People have the right information, but they don’t have access. They have money, but don’t know to connect the dots.

“The central bank is an entity within the larger entity called Nigeria. So, when you talk about interference, by virtue of the fact that the central bank is putting in place policies that would help to engender growth, policies that would help to create jobs, there is no conflict in that and in fact, it has nothing to do with the independence of the CBN�

CBN Governor, Continued on page 24

Mr. Godwin EmeďŹ ele

T H I S D AY Ëž Ëœ Í°ÍłËœ Ͱ͎ͯ͡

24

BUSINESSWORLD SEC ENGAGES PENCOM, AMCON TO DEEPEN STOCK MARKET LIQUIDITY unclaimed dividends to legacy issues. Uduk said: “Issues of unclaimed dividends are legacy issues, right now you will not get unclaimed dividends from new issues. For an instance, the new issue that have come to the market like MTN or Airtel. There will be probably no unclaimed dividend on them. But for those other ones which we are still tackling, part of issue of unclaimed dividend has to do with issue of identity management which we are doing everything to educate people on identity management. “We are engaging various stakeholders to be able to get the information we require. Item like BVN has been added to help in identity management which the capital market is also taking advantage of. The CSCS and the registrars are working together to ensure that more information from legacy shareholders are being collected to help them update the identity of shareholders in the market thereby getting them to be able to claim their dividends. SHAREHOLDERS CANVASS USE OF CAPITAL MARKET FOR INFRASTRUCTURE FINANCING

infrastructure such as housing and urban development. This, he said, enables government to free up cash to be used for public goods. He stressed that most infrastructure financing through the capital markets involve active participation of private sector operators which enhances the construction and utilisation process, given the private sector participants’ drive for efficiency and increased productivity. He explained that infrastructure bonds provide several benefits as an attractive asset class for investors. This ranges from stable, long term and predictable source of annuity to diversification for portfolio managers and investors. In terms of capital preservation, due to the low default rates and protection from inflation, it makes it a natural fit for long lasting, inflation-linked pension liabilities, with direct connection to development activities.

NEWS

NCS Plans New Roadmap for ICT Sector Emma Okonji The Nigeria Computer Society (NCS), an advocacy group in the Information and Communications Technology (ICT) sector has said it will soon release a new roadmap on ICT. The initiative is expected to redirect the sector to reflect its new nomenclature of digital economy. President of NCS, Prof Adesina Simon Sodiya, made the disclosure during a press briefing in Lagos, to announce the 2019 National Information Technology Merit Award (NITMA), organised annually by the group. Sodiya, who stressed the need for technology innovations, said the new roadmap, which would be released next month, would address the challenges of the Fourth Industrial Revolution, as it affects ICT development in the country. According to him, the roadmap would also address the issue of technology skills shortage in Nigeria, in today’s digital era and how emerging technologies like Artificial Intelligence (AI), Augmented Reality (AR), Machine Learning (ML), Internet of Things (IoTs), could be leveraged to further enhance speedy development of technology applications in Nigeria. “Let me use this opportunity to acknowledge the federal government’s renaming of the Ministry of Communications to the Ministry of Communications and Digital Economy. “This is an indication that government is truly committed

to the implementation of eGovernance and digital economy. NCS has been advocating for digital economy in the past few years, with focus on its benefits and strategies. “Digital revolution will spur development and solve current social and economic challenges in Nigeria and other African countries. NCS believes that the new name has vested critical and sensitive responsibility on the shoulders of the Minister,

Dr. Ibrahim Pantami.� Sodiya, who said innovation was key to national development, explained that innovation and commitment to the growth of the Nigerian ICT sector, were part of the criteria for honouring awardees at this year’s NITMA award, which held in Lagos. Five nominees were selected for the 2019 IT Personality of the Year, which was won by the Founder and Group Managing Director of Interswitch, a pay-

ment gateway company, Mr. Mitchell Elegbe. The Best Software Entrepreneur of the Year Award was won by the Chief Executive Officer of Union Systems Limited, Mr. Chuks Onyebuchi. Chairman, Planning and Organising Committee for NITMA 2019, Mr. Femi Williams, said: “Aligned with the vision and values of NCS, nominees and awardees emerged through the use of tested and well

established criteria, that was carried out through online voting. For NCS, it is essential to recognise excellence, hard work, exceptional accomplishments and extraordinary service to the industry and profession.� Pantami, who is a Fellow of NCS was represented at the award ceremony by the Managing Director of Nigeria Communication Satellite Limited (NIGCOMSAT), Mrs. Abimbola Alale.

KNOWLEDGE-SHARING

L-R: Company Secretary, SEPLAT, Ms Edith Onwuchekwa; Director, Mrs Ifueko Omoigui-Okauru, and General Manager, External Affairs & Communications, Dr. Chioma Nwachuku, after a lecture by Omoigui-Okauru at the NAPE conference, held in Lagos‌recently

NEPCTargets $200m Revenue from Organic Commodities James Emejo in Abuja The Chief Executive, Nigerian Export Promotion Council (NEPC), Mr. Segun Awolowo, has disclosed that the country seeks to generate over $200 million revenue in the next 10 years from the development of organic farming in seven priority commodities for export. Noting that the global organic food and drinks export market was currently worth $97 billion, he said it remained a critical market intervention and value chain linkage programme under the Zero Oil Plan (ZOP). Speaking during the signing of

the memorandum of understanding (MoU) between NEPC, Tak Integrated Agriculture Solutions Limited and Nicert Limited, Awolowo further identified the targeted commodities and their respective states of production to include ginger, produce in Kaduna, FCT, Nassarawa, Cross River and Oyo; Turmeric in Kaduna, FCT , Nassarawa, Cross River and Oyo; Sesame seed in Nassarawa, Benue Kogi, Niger, Jigawa, Katsina and FCT and Hibiscus flower which is produced in Jigawa, Kano, Bauchi, Gombe and Katsina. Others include Tiger nut from Katsina, Kaduna, Kano , Bauchi

and Gombe; Moringa Oleifera in Katsina, Kaduna, Kano, Bauchi and Gombe as well as Cashew which is produced in Abia, Kogi, Enugu, Kwara, Niger, FCT and Ogun. Represented at the ceremony represented by NEPC Director, Trade Information, Jamie Memuduaghan, Awolowo said the project which was a collaborative effort between NEPC, local farmers and the MoU partners as offtakers/exporters, was targeted at 10,000 farmers in each of the geo- political zones with an estimated 100,000 hectares of land over a period of three years.

He said the project seeks to equip farmers with the requisite skills required for organic farming through capacity building under the Good Agricultural Practices (GAP). He said the ultimate objective of the project was to contribute to the federal government policy of developing the potential of the non-oil sector of the economy through improving production and post-harvest handling of the seven priority organic products for export, with a view to expanding and increasing Nigeria’s share in the global market. Meanwhile, the Managing

Director, TAK Integrated, Kabir Usman, said the country was an agrarian country and not a crude oil nation. According to him: “This country was built on the foundation of agriculture and export and not on crude oil. What we are doing today, we are going back to our foundation. “Fifty years ago, Nigeria was known as agriculture and export nation. We were known for production of organic farming. Agriculture is the only sector that can create 100 millions of the jobs we are looking for. I’m happy that TAK is part of this initiative.�

‘Customs Should Focus on Trade Facilitation, Not Revenue Chinazor Megbolu Group Business Editor

Obinna Chima

Capital Market Editor

Goddy Egene

Comms/e-Business Editor

Emma Okonji

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

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

Nume Ekeghe (Money Market) Nosa Alekhuogie (ICT)

The Association of Nigerian Licensed Customs Agents (ANLCA) has advised the federal government to allow the Nigeria Customs Service (NCS) focus on trade facilitation and national security instead of setting annual revenue target for the service. Speaking during the national workshop organised by Association of Maritime Journalist of Nigeria (AMJON), with the theme: “AfCFTA: Boosting Nigeria’s Economy for Sustainable Development,� held in Lagos recently, the National President, ANLCA, Mr. Iju Tony Nwabunike noted that NCS

had been overstretched. He said a whole lot of challenges await the country with the planned commencement of AfCFTA unless adequate measures were put in place to tackle infrastructural challenges in Nigeria. Speaking on the, “Role of Customs Brokers in AfCFTA,� the ANLCA boss explained that the Customs must be encouraged to continue in safeguarding Nigerian territorial boundaries. Nwabunike, pointed out that trade facilitation and national security of the country should be the major duty of the Customs. “NCS should be motivated

by the executives and legislative arms of government to champion the Ease of Doing Business in furtherance to measure up with the World Customs Organisation (WCO), in line with international best practices,� he said. He posited that government should provide a benchmark as a means to make tariffs standard for operators and shippers respectively. “Nigeria is the only country where Customs is being given revenue target. Readily, Nigeria by virtue of her population and robust economy will be an attractive market from all kinds of goods under AFCFTA. But care should be

taken to avoid using Nigeria as dumping ground by other sister countries. “Local manufacturers as well as farmers should be encouraged to export their goods and services by providing the enabling environment. Customs should be encouraged to continue to safeguard Nigerian territorial boundaries and trade facilitations, and security of goods in bound and out bound the country. “Giving customs a target every year by the federal government should be discouraged. I strongly believe that the NCS has been overstretched and Nigerians seeing them as not being friendly, a situation I sincerely believe

should be revisited, allow the Customs to remain what they are supposed to be according to the standard of World Customs Organisation (WCO). Nwabunike, who also is the Managing Director, Mac Tonnel Nigeria Limited, further averred that the anticipated challenges of AfCFTA should be a wake-up call for government to encourage local manufacturers and to be sensitive to unban some goods that are not made or locally produced in the country. He, however, appealed to the government to provide a conducive environment for local manufactures in a bid for them to compete favorably with other countries in the sub-region.

T H I S D AY Ëž Ëœ Í°ÍłËœ Ͱ͎ͯ͡

25

All-Share Index Rises 0.52% as Renewed Interest Boosts Market Further Goddy Egene The rally in the equities market was sustained for the third consecutive week as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) rose by 0.52 per cent to close at 26,991.42, while market capitalisation ended at N13.027 trillion. There has been renewed interest in the equities market as investors hunt for positive real return following depressed fixed income (FI) yields since the Central Bank of Nigeria (CBN), barred individuals and domestic private firms from participating in its open market operations (OMO) auctions. The market had gained 2.04 per cent the previous week before last week’s appreciation, thereby reducing the year-to-date decline to 14.12 per cent. Out of the five trading days, the market appreciated four times. Trading had opened on a bearish note the first day of the week, falling by 0.33 per cent. However, from Tuesday, Wednesday, Thursday and Friday were positive, gaining 0.18 per cent, 0.14 per cent, 0.36 per cent and 0.44 per cent in that order. In terms of sectoral performance, the Consumer Goods Index led with 6.0 per cent, trailed by the NSE Oil & Gas Index appreciated with 2.2 per cent. The NSE Insurance Index rose 0.5 per cent while the NSE Banking Index declined by 0.9 per cent. Analysts still believe that the CBN’s policy will continue to buoy performance in the market. “We assume that the recent CBN’s policy restricting access to OMO Bills will buoy performance in the equities market,� analysts at Afrinvest (West Africa) said. Similarly, analysts at Cordros Capital Limited said: “In our view, the still compelling valuations and attractive dividends yields have driven market performance over the past few weeks, a reaction to a limited outlet for investments given recent policy directives limiting domestic participation in the FI market. In the short term, we expect that stock market will continue to benefit, especially as FI yields remain on the downtrend.� Some positive news came from the market last week that are capable of further boosting investors’ confidence. For instance, board of SEC met with stakeholders, where the chairman, Mr. Olufemi Lijadu called for more cooperation for the overall interest of Nigerian capital and economy generally. “Operators and the apex regulator have the same interest and expressed the need for all to work together in the overall interest of the market and the economy. We need money to develop our economy and to get the money we need to attract investors both local and foreign. To be able to attract them, our markets need to have the basic rules that are obtainable anywhere else in the world by aligning ourselves with best practices internationally,� he said. Lijadu said the board was ready to listen and be accessible to market operators, saying, “You are there in the market and can give us that sensitivity of what the market is feeling and can give us that direction to frame our policies in the interest of the market,� He expressed confidence about the level of knowledge and professionalism of stakeholders in the market, adding that by the time views and suggestions from the interaction were put together the market would arrive at some solutions. “We are key pillars in the ability of our country to find solutions to its developmental needs by attracting relevant funding, together we can make our country great� he added.

Similarly, Federal lawmakers and the Ministry of Industry Trade and Investments promised to work with securities dealers and other stakeholders to ensure the market plays its role of capital formation for the growth and development of the economy. The Chairman, House of Representatives Capital Market and Institutions Committee, Honourable Babangida Ibrahim, said the lawmakers were willing to enact laws that would boost operations in the market. According

to him, low investors’ confidence as well as unclaimed dividends remain the major issues affecting the growth and development of the capital market. “I want to assure you that the committee is ready to work with the CIS. The National Assembly and House of Reps in particular, is aware of the major challenges facing the capital market in recent times. As a result of that, we have already started engaging with some of the key stakeholders including the Institute on the best way

forward. I would like to appeal to the Institute to be unofficial advisers to the government and continue to monitor the activities of the government as regards policies affecting the market so as to ensure we move the capital market forward,� he said. Also speaking, the Vice Chairman, Senate Committee on Capital Market, Senator Binos Yaroe, charged the Institute to come up with policy proposals that will enhance the competitiveness of the market.

“The challenges the Nigerian capital market is facing cannot be emphasised and the economy has never been as bad as it is today and it is a known fact that the capital market is the barometer of any economy. In that regard, the National Assembly is ready to partner and support the institute to ensure that our market is more competitive,� Yaroe, who is also a stockbroker said. On his part, the Minister of Industry, Trade and Investment, Otunba Niyi Adebayo, said once CIS comes up with policy proposals to support and address Nigeria’s infrastructure challenges, the federal government would incentivise and provide the enabling environment to support this objective. “We declare our willingness to partner the CIS in ensuring the necessary enabling environment that will further stimulate and boost competitiveness in the capital market as well as ensure a coordinated and integrated approach to Nigeria’s financial sector is attainable. The best way to improve competitiveness is through a mixture of policies designed to help, improve capital market competitiveness,� Adebayo said. Market turnover Meanwhile, investors traded 1.416 billion shares worth N17.249 billion in 20,303 deals in contrast to a total of 2.084 billion shares valued at N33.867 billion that exchanged hands the previous week in 21,849 deals. The Financial Services industry remained the most traded selling 880.236 million shares valued at N8.089 billion traded in 12,488 deals, thus contributing 62.15 per cent and 46.9 per cent to the total equity turnover volume and value respectively. The Conglomerate industry followed with 283.854 million shares worth N1.587 billion in 841 deals. The third place was Consumer Goods industry with a turnover of 80.804 million shares worth N2.349 billion in 2,871 deals. Trading in the top three equities namely, UAC of Nigeria Plc, FBN Holdings Plc and Access Bank Plc, accounted for 554.855 million shares worth N4.310 billion in 4,113 deals, contributing 39.18 per cent and 24.98 per cent to the total equity turnover volume and value respectively. Top price gainers and losers The price movement chart showed that 40 equities appreciated in price during the week, higher than 39 equities in the previous week, while 23 equities depreciated in price, higher than 11 equities in the previous week. Neimeth International Pharmaceuticals Plc led the price gainers with 40 per cent, trailed by Cornerstone Insurance Plc with 35.4 per cent. Chams Plc chalked up 33.3 per cent, while Ikeja Hotel Plc garnered 31.5 per cent. Conoil Plc and Learn Africa Plc appreciated by 18.8 per cent, just as Forte Oil Plc and Ekocorp Plc went up 13.8 per cent and 10 per cent respectively. Flour Mills of Nigeria Plc and MCNichols Plc gained 9.8 per cent and 9.5 per cent in that order. Conversely, LASACO Assurance Plc led the price losers with 20.6 per cent, trailed by Jaiz Bank Plc with 11.2 per cent, just as Associated Bus Company Plc shed 8.8 per cent. Sterling Bank Plc and AIICO Insurance Plc went down by 8.5 per cent and 6.5 per cent respectively. Other top price losers included: Wema Bank Plc (6.5 per cent); Transcorp Plc (6.4 per cent); Ecobank Transnational Incorporated (6.4 per cent); NASCON Allied Industries Plc (5.7 per cent) and Unilever Nigeria Plc (5.6 per cent).

26

T H I S D AY Ëž Ëœ Í°ÍłËœ Ͱ͎ͯ͡

As Economy Maintains Resilience amid Challenges The positive Gross Domestic Product numbers achieved in the third quarter of 2019 calls for more complementary fiscal and monetary policy to enhance macroeconomic growth, writes Obinna Chima Last week, the National Bureau of Statistics (NBS) released the Gross Domestic Product (GDP) report for the third quarter (Q3) of 2019, which showed that GDP expanded to 2.28 per cent (year-on-year), in real terms, in the period under review, compared to the 2.12 per cent recorded in the preceding quarter. The latest GDP performance was the second highest quarterly rate recorded since 2016. The report also showed that aggregate GDP for Q3 2019 stood at N37.80 trillion in nominal terms, which was higher than the N33.36 trillion in Q3 2018, representing a year-on-year nominal growth rate of 13.30 per cent. The NBS stated that the growth rate was however lower relative to rates recorded in Q3 2018 by 0.28 per cent and the rates recorded in the preceding quarter by 0.71 per cent. The economy continued to be driven by the non-oil sector, accounting for 90.23 per cent of GDP while the oil sector contributed 9.77 per cent in the quarter under review. Daily oil production, however, increased to 2.04 million barrels per day (mbpd) in Q3 compared to 1.94 mbpd, representing its highest in more than three years. The real growth of the oil sector was 6.49 per cent (year-on-year) in Q3, indicating an increase of 9.40 per cent relative to rate recorded in the corresponding quarter of 2018. The sector contributed 9.77 per cent to total real GDP compared to 8.98 per cent in the preceding quarter. In real terms, the sector contributed 90.23 per cent to growth, slightly lower than the 91.02 per cent in the previous quarter. However, agriculture, which is the mainstay of the economy, contributed 29.25 per cent real GDP during the quarter, compared to 22.78 per cent in the preceding quarter. According to the NBS, industries further contributed 22.17 per cent to growth while the services sector accounted for 48.59 per cent of the GDP. But despite the cheering news from the NBS, economic growth remains weak as the country is still far from the growth target of 4.5 per cent it had set in its Economic Recovery and Growth Plan (ERGP). In addition, presently, population growth at about three per cent, remains far above the GDP growth rate, and should be a source of concern to policymakers. Furthermore, insecurity, poverty, joblessness, the country’s weak revenue base, lack of infrastructure, among others, are some of the factors that have continued to hinder economic growth in the country. To analysts at Afrinvest West Africa Limited, structural constraints, given slow pace of reforms in priority sectors and improved fiscal conditions remain a concern. They argued that the current pace of growth considering the sluggish performance of the elastic and interest rate sensitive sectors presents no respite to the high unemployment rate at 23.1 per cent and increasing level of poverty in the economy. “Notwithstanding improved growth seen in the quarter, we maintain our growth forecast for 2019 although we expect improved oil production to support growth amid slower rise in the non-oil sector. “In the agriculture sector, there is scope for improvement due to the harvest season in Q4:2019 but prolonged security issues continue to cloud performance in the sector. “We expect a tepid but sustained recovery in the manufacturing sector due to still weak but slowly improving consumer spending while growth in the trade sub-sector remains partly threatened by the FG’s decision to close the land borders and is expected to weigh on the services sector despite moderate growth in the ICT sub-sector. “In the oil sector, we expect growth to be sustained, backed by a lower 2018 base and our expectation of better output in Q4:2019. We expect growth in oil production Year-onYear, with slight Quarter-on-Quarter increase given persistent challenges to oil production. Notably, a further deterioration in security as

well as a weaker-than-expected performance in oil production and oil price are the major downside risks to our expectations,� the Lagos-based financial advisory firm stated. On their part, analysts at CSL Stockbrokers, held the view that the recent 65 per cent minimum loan-to-deposit ratio (LDR) policy by the central bank to improve lending and support growth in the real sector appears to be kicking in. The firm stated that implementation of the LDR guideline early enough in the quarter, compelled banks to lend to the real sectors and had a multiplier effect on output from both the real sectors and the financial and insurance sector and by extension aggregate economic output. “In the near term, we expect the Nigerian economy to remain in a cycle of secularstagnation, but we believe the central bank will continue to implement unconventional policies to improve economic growth in the long-term. “Although rising inflation expectations remains a risk, we expect the CBN to remain on hold in the short-term: hiking rates, in recognition of increased upside risks to inflation and mounting external sector pressures

In the near term, we expect the Nigerian economy to remain in a cycle of secularstagnation, but we believe the central bank will continue to implement unconventional policies to improve economic growth in the long-term

would further constraint economic growth; while a rate cut is likely to intensify risks to NGN stability resulting, in increased capital outflows,� CSL analysts stated. In the same vein, the Financial Derivatives Company Limited, noted that while the latest GDP figures were positive, the growth rate was still way below the ERGP target. According to the firm, the development was an indication that the economy was in need of more fiscal incentives. “The expansion in Q3 GDP can be partly attributed to the government’s anti-smuggling strategy and its positive effect on domestic production. “Output growth was further supported by the harvest season and increased activities in the construction sector,� the FDC added. It further pointed out that a breakdown of the report showed that most of the interest rate sensitive and employment elastic sectors showed slight improvement. This, it stated, suggested that various government policies were having medium term effect. “Economic growth is a function of fiscal policy and can only be complemented by monetary policy. While the Q3 GDP numbers showed that the recovery path is sustained, corporate earnings are still suffering. “The inability of companies to pass on higher costs to consumers weighed on profitability and revenue growth. Consumer demand was also constrained by low disposable income. “The economy needs more fiscal incentives to ensure that growth reaches its potential and full employment levels. “Hence, it is expedient that the CBN’s current intervention strategy is supported by more investment friendly policies in order to attract more foreign investment which is a catalyst for growth. “Fiscal policies can however be complemented by monetary policy to enhance macroeconomic stability,� the FDC added. A former bank chief executive, Mr. Chika Mbonu, said the GDP figures showed that the economy was on the path of growth, driven by positive developments in both the oil and non-oil sector.

“The growth does not take away the challenges in the economy. They are still there and even the ones that are coming shortly. “You know the Senate has just passed the second reading of the Value Added Tax Act, which basically is going to increase VAT collection from five per cent to 7.5 per cent. You would expect that when an economy is sluggish, what they should be doing should be to reduce tax rate. “We also have the issue of the implementation of the new minimum wage and there is going to be an inflation impact,� Mbonu, who is also an analyst at Arise Television added. In a recent presentation, the Managing Director, Afrinvest West Africa Limited, Mr. Ike Chioke, said there was need for the country to stop doing certain “wrong things.� Some of these he listed to include to change from a constitution that encourages indolence whereby states go to Abuja for monthly allocation; exaggerating population numbers for higher revenue share; excessive borrowing for consumption; subsidising unavailable electricity; end the paradox of borrowing while maintaining huge subsidies; and also put an end to subsidising petrol consumption. On the other hand, he called for the decentralising policing and security apparatus in the country; enforcing enrolment of primary school age children; building additional seaports away from Lagos for security and logistical efficiency; removing minerals from the exclusive list; cutting the cost of governance; and to make health insurance mandatory. In addition, he listed other growth enhancing measures the country should adopt to include leveraging annual capital expenditure allocation in partnership with private sector to target critical infrastructure development on a long-term basis; rapid adoption of technology to fast-track human capital development; driving broadband penetration by easing rights of way challenges; and prioritising and building rails to connect major commercial hubs in the country.

27

T H I S D AY Ëž Ëœ Í°ÍłËœ Ͱ͎ͯ͡

Sanwo-Olu Urges China Devt Bank to Raise Investment in Nigeria to $1bn Lagos State Governor, Mr. Babajide Sanwo-Olu, has urged the China Development Bank to increase its investment in Nigeria to $1 billion. The Governor made the request at a meeting with the bank’s President, Mr. Quyang Weimin, while speaking on Lagos State’s infrastructural needs and areas of collaboration with the Bank in Beijing yesterday. A statement explained that the Governor, who was on investment drive to China, was received by the entire management team of the bank at its headquarters. In his interaction with the bank’s management, SanwoOlu hinted that “there are huge developmental projects in Lagos the bank could support the State in developing�. “We are determined to build a 21st century economy, and infrastructural development is one of the key deliverables

for a modern economic system and society to run efficiently and effectively. “With functional infrastructure, businesses will thrive and the city will be more habitable. So, as a government, we are talking to you now about our needs and the areas of intervention where we require your support�. “Even though I know that you have to consider a lot of factors as a bank, I can assure you that you cannot get it wrong with Lagos and Nigeria as a whole. Lagos is Africa’s seventh largest economy and the most populous on the continent. The state has enjoyed political stability for 20 years and has consistently grown across key economic indices�. “If you consider these facts, you agree with me that your risk analysis will favour Investing in our State. As a development bank committed to supporting developing nations, I am certain

that your involvement in our 4th mainland bridge construction, railway projects, road construction around our free trade zone and our water projects will fittingly support the attainment of your organisational goal,� the Lagos State Governor said. In his response, Weimin said: “I have always had confidence in Lagos State and Nigeria, but your presentation today has increased my level of confidence in Lagos State and Nigeria,� adding that, “I am particularly happy that Lagos State has a vibrant and visionary leader like you who is ready to take the State forward.� He added: “I have deep interest in what you are saying and your ideas. And we look forward to supporting you. We are different from commercial banks because we are focused on development and greater good of humanity. We give loans at the lowest cost and very long loan maturity period.

H. Pierson Supports Plateau’s 5-Year Strategic Planning Execution In a bid to develop a long-term view to strategic planning for Plateau State, the Executive Governor of the state, Rt. Hon Simon Bako Lalong, recently organised a four-day retreat to unveil the broad vision for his second term in office and to kick off the policy execution for the state. At the session, the Plateau State Government made a commitment to expand investment in what it considered areas of strength, which included tourism, agriculture and mining, in order to boost job creation, revenue generation and the long-term sustainable development of the state. A statement explained that leading the functional level strategy and retreat sessions was H. Pierson Associates Limited, a leading indigenous consulting firm in Nigeria with expertise in Public Governance Advisory

and Strategic Consulting. The retreat which held at the National Institute of Policy and Strategic Studies (NIPSS), Kuru, had in attendance members of the State Executive Council (SEC), Permanent Secretaries and Heads of key government agencies and departments. Themed ‘New Imperatives for Sustaining the Rescue Agenda in the Next Level’, the Governor and members of his government made a commitment to focus less on Federal Allocation for the funding of capital projects. “Instead, the government will aim to improve internally generated revenue within the state,� the statement quoted him to have said. Executive Vice Chairman, H. Pierson Associates, Mrs. Eileen Shaiyen, while speaking on the success of the retreat stated that it was important for governments

at all levels – federal, state and local – to engage in such strategic long-term planning in order to achieve tangible growth in Nigeria. She added: “H. Pierson Associates has been deliberate about offering public governance advisory and consulting services to governments because we believe this is of crucial importance to the delivery of sustainable development in the states and the country as a whole. “This includes state medium and long-term governance strategy designs, restructuring of MDAs, conducting peer governance reviews, retreats facilitations, research and more. The better our Governments are able to perform, the faster our economic growth. With Plateau and other states we are working with, we expect to begin seeing the results in the short to mid-term.�

Old Mutual Appoints New MD Old Mutual Limited (OML) has announced the appointment of Mr Olalekan Oyinlade, as the new Managing Director for its General Insurance business in Nigeria. The appointment took effect from October 2019. Oyinlade, joined the company from Veritas Kapital Assurance Plc, where he was an Executive Director, Operations responsible for the overall business development and technical operations of the firm. Oyinlade has 22 years experi-

ence in various insurance roles including Chief Underwriter, Reinsurance Manager, among others. He specialises in direct and treaty reinsurance underwriting, commercial claims handling, as well as extensive client and brokers relationship management. A graduate of University of Lagos, Oyinlade started his professional career with Sovereign Trust Insurance Plc where he acquired considerable experience in general business underwriting and reinsurance operations.

He joined AXA Mansard Insurance Plc in February 2004 and left in 2017 as Chief Underwriting Officer with additional responsibility for the company’s distribution activities in the public & infrastructure sectors and management of the life and savings portfolio. Oyinlade, is an associate of the Chartered Insurance Institute of Nigeria (ACIIN) and that of Nigeria Council of Registered Insurance Brokers of Nigeria (NCRIB) as well as a member of Chartered Insurance Institute of London (CII).

LAPO Appoints Ikponmwosa MD/CEO Sunday Ehigiator The Board of Directors of LAPO Microfinance Bank has announced the appointment of Mrs. Cynthia Ikponmwosa as the company’s new Managing Director and Chief Executive Officer. The appointment is however,

subject to the approval of the Central Bank of Nigeria (CBN). The appointment of Ikponmwosa, who was previously the Executive Director of LAPO Corporate Services, followed the retirement of the Founder and former CEO, LAPO, Dr. Godwin Ehigiamusoe. Addressing journalists, the Chairman, LAPO

Microfinance Bank, described Ikponwosa as a founding member of the LAPO story, in its commitment to social and economic empowerment of members of the low-income households, and “she would be given every necessary support to deliver value to all stakeholders.

28

T H I S D AY Ëž Ëœ Í°ÍłËœ Ͱ͎ͯ͡

CFAN to Launch Initiative for Co-operatives Nume Ekeghe The National Co-operative Financing Agency of Nigeria (CFAN), is set to launch a Co-operative Shares Exchange initiative centred around Co-operatives in the country. CFAN, is the national financial body for all registered co-operative societies that offer financial services to their members in Nigeria. In a sensitisation workshop held in Lagos, recently, the President/Chairman, Board of Directors of CFAN, Mr. Adebola Orolugbabe, said the idea of the Shares Exchange was to have a financial instrument for the transfer, buying and selling of co-operative shares. Orolugbabe said: “CFAN intends to list the shares of viable Co-operatives that comply with laid down procedures on an OTC or BlockChain platform and to

trade these shares amongst its members. We will also use the OTC/BlockChain platform to promote and to trade approved Co-operative securities so as to raise capital in the market.� Also speaking at the workshop, the Managing Director of ePercent, Mr. Eric Olo, said the initiative would have a digital registry to maintain all the records of the co-operatives as a way of maintaining compliance for the exchange, and would be an asset management platform that ensures liquidity, risk mitigation and diversification for co-operatives on the exchange. While delivering his paper, the Chief Executive Officer of GTI Capital, Mr. Abubakar Lawal, stated that the shares exchange would create financial freedom and redistribution of wealth among co-operative societies.

Poultry Farm Records Improved Sales on Border Closure Ugo Aliogo CHI Farms Limited a member of the TGI Group has disclosed that it recently recorded an alltime sale of over 700 Tonnes of frozen poultry meat. The company attributed the improved sales volume to increased productivity and expanded capacity of the company as well as the federal and the strict implementation of the country’s land border closure that was directed by

the federal government. In a statement made available to THISDAY, the Managing Director CHI Farms, Dr. Tunji Olaitan, expressed delight about the development, saying the company was pleased with the numbers. He said: “We have invested a lot in our business processes and we are glad that the Government is taking active steps to protect the businesses in Nigeria.� The statement also stated that the border closure restricted the

importation of smuggled goods into Nigeria, noting that, “the border closure has since helped many Nigerian businesses.� The Executive Director CHI Farms, Martin Middernacht, in the statement, said CHI Farms was taking steps to invest in preparation for next year. He added that although the company’s sales are at the highest point, but there is still a market demand gap that the company would position itself to fill, “we will significantly

invest to meet the emerging demands for our quality chicken in 2020�. The Head of Sales, Chi Farms, Temim Garba, explained that the demand for CHI Farms’ chicken has grown over the last three months. “There is additional demand for our chicken and we are investing to meet this demand, especially for the upcoming festive season. Our capacity has grown and we are expectant for even more growth�, he said

Taj, Jaiz, NAHCON Explore Hajj Savings Scheme Olawale Ajimotokan in Abuja Interest in the promotion of Hajj Savings Scheme in Nigeria has continued to gather pace as two Islamic non-interest banking institutions, Taj Bank and Jaiz Bank have met the National Hajj Commission of Nigeria (NAHCON) on its feasibility. The Head, Public Affairs NAHCON, Fatima Sanda Usara, revealed that the Commission’s Chairman, Abdullahi Mukhtar Muhammad and officials from the two banks met recently on the subject. Taj Bank delegation was led by its Managing Director, Norfedelizan AbdulRahman and Jaiz by its Managing Director, Hassan Usman. AbdulRahman, lauded the hajj savings scheme initiative while assuring of Taj Bank’s readiness to deploy in Nigeria, the expertise it gathered from operating a similar programme known as the Malaysian Tabung Hajj. He explained that the high success rate recorded under the Tabung hajj enabled it to open its own bank. The team also made enquiries on Hadaya and offered advice on the need of introducing a cashless Basic Traveling Allowance

System, which the bank is willing to facilitate. In his response, Mukhtar described the hajj savings scheme as an added advantage to Taj Bank and advised the group to send a written proposal so that feasibility studies may be carried out on it. He said NAHCON plans to make the Hajj Savings scheme versatile in such a way that it can borrow, for instance, the Tabung Hajj concept and redesign it to suit the Nigerian context. A former Head of the NAHCON Hajj Savings Scheme, Ahmad Sani, noted the initiative will open investment windows in the agro-allied sector, air transport industry, housing, health and energy/power sectors. And to enable the success of the scheme, NAHCON, represented by its Director of Admin and Human Resources, Dr Ibrahim M. Sodangi, was in Indonesia for a world conference on hajj funds management, where discussions were held on Global Islamic Finance and Hajj Fund Management. In the same vein, the Islamic Development Bank also sponsored some staff of NAHCON to Malaysia towards setting a resilient base for the running of the savings scheme.

CMD toVerify, Accredit Training Firms The Acting Director-General of Centre for Management Development (CMD), Mr. Bitrus Chinoko has reiterated the agency’s readiness to start verifying training firms in the country for accreditation. Chinoko, made this known in a statement at the weekend. He said accreditation gives quality training delivery, enhance organisational performance as the sequel to higher level skills and competence. Chinoko, also noted that the accreditation was to ensure that the individuals carrying out training functions have the necessary qualifications, experience and training to do so. Also according to him, the exercise was to check

the incidence of unqualified people parading themselves as trainers and develop a culture of training that is guided by professional ethos and competence. He said the verification was a process to check the requirements of the firms to know their capability and if they should be accredited. “Any accredited firm which has gone through the process is deemed ready for business� He further stated that the said accreditation process was done once in a year and the accreditation last for five years. He said over 557 firms applied for accreditation, adding that 414 firms would be visited and they would be properly screened to get the best.

ANTI-FRAUD FORUM

L-R: Co-Founder, Digital Encode Limited, Dr. Obadare Peter Adewale; Head, Identity and Fraud management, Nigeria Interbank Settlement System (NIBSS), Olufemi Fadairo; Head, Anti-Fraud, Access Bank Plc, Ifeanyi Emefiele; Assistant Director, Oversight & Compliance Division, Payments System Management Department, Central Bank of Nigeria (CBN), Ademola Adeleke; Group Managing Director, Access Bank, Herbert Wigwe, and Cyber Security Leader, Deloitte West Africa, Tope Aladenusi, at the Access Bank’s Anti-fraud Forum held in Lagos‌recently

FG Commends Contribution of Chinese Govt to Nigeria’s Devt James Emejo in Abuja The Minister of Information and Culture, Alhaji Lai Mohammed has described as priceless, the initiative of the Chinese government granting access to Satellite TV for 1,000 villages across all 774 local governments in the country. The programme which started in 2017, had been completed and handed over to the government. Speaking at the project completion ceremony, the minister commended the initiative and assured that, “The work the Chinese government has done in Nigeria will be well utilised for

the dissemination of information.� He said: “If you make use of the channels, you will know much more about the world, government and programmes and all other programmes that will make you better citizens.� Represented by the ministry’s Director, Public Communications and National Orientation, Mrs. Priscilia Ijeoma, Mohammed said the initiative was “appreciative and it is priceless,� adding that, “What the Chinese government has done for Nigeria is priceless for the Nigerian government and we very much appreciate.� A completion certificate was consequently presented to Star-

Times for executing the project. Also speaking at the event, Chairman, House of Representatives Committee on Information National Orientation, Ethics and Values, Hon. Odebunmi Olusegun, said the initiative had brought both countries together in the areas of human capital development, adding that the level of value the access to satellite TV, which the project had brought to the villages could not be over-emphasised. Also, Economic and Commercial Counsellor at the Embassy of the People’s Republic of China, Mr. Li Yuan, expressed gratitude to the Nigerian government for

the cooperation from the start to finish of the project. He said: “China is a reliable ally of Nigeria and will continue to work with the Government of Nigeria to ensure that Nigerians in the grassroot are not forgotten.� Meanwhile, the project executors, StarTimes, assured that “All the 1,000 digital villages now have fully installed and operational digital television service comprising of two thousand sets of solar power projector TV Systems, one thousand 32-inch digital TV sets, satellite dishes and accessories within public facilities such as Schools, Youth Centres and other public areas in each village.�

Access Bank Empowers IDPs, Others Nume Ekeghe Access Bank Plc has trained internally displaced persons (IDPs), vulnerable youths and migrants including victims of insurgency in the Bogije community at the Ibeju-Lekki area of Lagos State. The initiative was done in partnership with the Web of Hearts Foundation. The bank said the intervention was part of its commitment to human emancipation while contributing to economic development in Nigeria through its skill empowerment program coordinated by the Bank’s Digitalised and Centralised Operations Group.

More than 100 people were trained in various creative activities such as fashion designing, catering, hairdressing among others. Beneficiaries were also taken through lessons on financial literacy, counselling and customer services to facilitate their successful head start in business. Similarly, sessions were organised to give psycho-social support for traumatised victims for improved mental health. Speaking at the training, the Group Head, Digitalised and Centralised Operations, Access Bank, Mrs. Sandra Okoli said the Group embarked on the project as a way of alleviating the burdens of communities

locked out of development and were marginalised. Okoli said: “At Access Bank, we place service to the community at the core of our business. We will continue to add our efforts to that of other stakeholders in the fight to eradicate poverty and empower people to build sustainable businesses, create employment opportunities and build a sustainable economy for the nation.� On her part, the Founder and CEO of Web of Heart Foundation Mrs. Bose Aggrey, while commending the bank for taking the initiative said: “We are quite excited and elated that Access Bank

has given a helping hand to the helpless, hopeless and despondent in the society. “The beneficiaries today will be taking home equipment to start up and sustain their businesses. With this, they will get financial freedom and be able to fend for themselves and their families as well as impact lives in the society.� Access Bank donated several industrial gas cookers, sewing machines, gas cylinders, hair dressing equipment to the beneficiaries of the skill empowerment program. Food items were also donated to the foundation which provided shelter for resettlement of migrants, IDPs and vulnerable youths.

MONDAY NOVEMBER 25, 2019 • T H I S D AY

29

30

T H I S D AY Ëž Ëœ Í°ÍłËœ Ͱ͎ͯ͡

Enyimba Economic City: $430m, 700,000 Jobs Coming to Abia Godwin Chukwudi The game is changing in Abia State, thanks to a man of vision, Dr. Okezie Ikpeazu and the support of the federal government of Nigeria. Enyimba Economic City (EEC) was among 52 investment deals that sailed through at the recently concluded Africa Investment Forum (AIF) held in Johannesburg, South Africa. Consequently, Abia State Governor, Dr. Okezie Ikpeazu, secured the goahead of the African Development Bank (AfDB) and a consortium of private investors and multilateral financial institutions for the investment of $430 million to fast-track the development of EEC- a pet project of the governor. The news is a big deal for Abia State and for Nigeria in general. The proposed city has all the ingredients of a great economic hub. In a post on the website of the Infrastructure Concession Regulatory Commission (ICRC) the project is described as having the potential to drive massive economic expansion of the Southeast region and by extension Nigeria. Located along Aba- Port Harcourt Highway, the city has major arterial, intercity roads connections. It is near existing sea- ports (Onne and PortHacourt) and the proposed Akwa Ibom Deep Sea Port. It has proximity to airports in Owerri, PortHacourt and Uyo, and has functional gas pipelines and boarder. It is also along the national rail line of Port Harcourt-Maiduguri. Construction of the City is already in progress. The Abia State Government, a Chinese textile manufacturer, Ruyi Group and Geometric Power Company, Aba, have signed agreements for the commencement of the new economic city, as well as roll out of uninterrupted power supply to Aba area of the state. The agreements were

Ikpeazu signed recently in Beijing, China. It took Governor Ikpeazu five visits to China to convince the Ruyi Group, the largest textile manufacturer in that country, of the workability of EEC. Prof. Bart Nnaji, the CEO of Geometric Power Company, Aba, Abia State, signed the agreement with the Ruyi Group for equity investment in the Geometric Power Company to enable the Chinese firm to mobilize immediate funds for the completion and start-off of the Geometric Power Plant at Osisioma, near Aba, Abia State. Olam International, one of the world’s leading food and agri-business companies, and others have already indicated interest in establishing factories in ECC. Governor Ikpeazu’s vision is to create a global business hub that connects the nine (9) Southeast and

South south States, build first class infrastructure in the location, including dedicated power and attract economic activities that are mainly driven by manufacturing and supported by other uses e.g. Logistics, Medical, Entertainment, Education, Lifestyle Residential etc. The target for EEC is for is to attract long term local and foreign investments, thereby integrating Nigerian businesses (manufacturing and services) into regional and global supply/ value chains. While interacting with journalists in Lagos earlier in the week, Governor Ikpeazu said he presented the EEC to investors at the just-concluded Africa Investment Forum in Johannesburg, South Africa, and it attracted varied interests from investors. Advisors and financiers of the EEC include

the African Export-Import Bank, African Development Bank, and the International Finance Corporation. In order to attract funding for Africa projects, the African Development Bank launched the inaugural Africa Investment Forum in 2018. It was the first time Nigeria was benefitting from the funding opportunity provided by the Africa Investment Forum. AIF is a marketplace for project developers, investors, borrowers, lenders, policy makers and public and private sector investors to encourage investment in Africa. Ikpeazu believes, rightly, that the EEC would boost Nigeria’s participation in the Continental Free Trade Agreement (AfCFTA) and deliver not less than 700, 000 jobs within 10 years. Governor Ikpeazu as well as other citizens of Abia State are reasonably delighted at the opportunities offered by the EEC. It is a project that would outlive Ikpeazu’s administration and confirm Abia State as the new preferred destination for investment in Nigeria. This is why the people of Abia and the Southeast must harken to the advice of their visionary son who is asking them to grab the opportunity at their doorsteps and migrate from trading to industrial manufacturing. Ikpeazu said: “The time has come for our people to move from trading to manufacturing. EEC is the vehicle through which we are going to achieve that.� The EEC will move Aba above its current state to a well-diversified economy and a modern city that would compete with Dubai where technology is the driver of industrialization. Economists believe that countries that capture the window of opportunity of global relocation of light manufacturing can grow dynamically and in one or two generations graduate into middle/ high income economies.

The ICRC said the project combines the “clear focus of the private sector and the enabling powers of the Governments at all level. Hence, it is a Private Public Partnership (PPP) of Crown Realties Plc, the Host Communities, Abia State Government and the Federal Government of Nigeria under project Made In Nigeria for Export (MINE) of Federal Government of Nigeria.� And based on that, the regulatory commission stated further: “The Federal Government has designated Enyimba Economic City a Special Economic Zone (SEZ) with Free Trade Zone Status and one of the three (3) pilots that include Kano and Lagos. It has also taken 20% equity in the project.� The First Phase of the project is fully designed, and construction has commenced while various major anchor tenant discussions are progressing well for manufacturing transfers from China, Germany and other Countries to the new city. The masterplan design of the EEC was done by Surbana Jurong of Singapore and CBRE of India in collaboration with local firms. The positioning study indicate that EEC will at capacity, provide over 700,000 jobs, urban housing of over 300,000 units and urban population of more than 1.5 Million people. It is projected that the city will provide more than 2,000industrial/ business units, with estimated annual value output of more than $5 Billion. While presenting the 2020 budget to the Abia State House of Assembly, Governor Ikpeazu said his re-election was a demonstration of the faith of the people in his administration’s ability to deliver on his promises. He re-iterated his commitment to bequeath “a bright and prosperous future for all Abians� by the time his tenure comes to an end. That prosperous future can be glimpsed from the potentials of the EEC.

Turning Organisational Challenges into Strategic Opportunities Does your organisation have a vital goal you are aiming to achieve? Are you facing strategic or tactical challenges in the process of trying to reach your goals? Texem has crafted an exceptional, valuable and game-changing executive development programme for you to be delivered by world-renowned Professor Pawan Budhwar. Budhwar, is the Associate Pro-ViceChancellor International for Aston University, Co-Editor-in-Chief of British Journal of Management. He is globally renowned for his research into the international aspects of HRM, Leadership and Strategy. He has held many visiting professorships in top business schools worldwide. Pawan regularly delivers keynotes at international and national programmes. He has received numerous awards for his research achievements and was invited to meet the Queen of England based on his impeccable academic impact. He has published several seminal books and over three hundred insightful journal articles which are used in every single continent of the world. Professor Pawan’s impressive academic credential is evidenced by his ranking as among the world’s top ten management thinkers. In the struggle for leadership in the market, your organisation should be able to establish a working strategy and execute it effortlessly across different distribution channels. This executive development programme will enable you to discover your competitive advantage and easily exploit them for your benefit.

r $PNQBOZ UFBN MFBEFST BOE Managers r "OZPOF TFFLJOH UP EFWFMPQ their leadership skills The two-day programme holds between December 11th and 12th in Lagos.

Budhwar From the programme, you will develop requisite conceptual skills and management vision to determine industry drifts, outperform the competition, and maintain corporate progress as the global economy evolves. Texem is one of the world’s top learning platforms for African executives and organisations. The platform offers highly relevant and actionable executive education programmes tailored to meet the needs of modern organisations delivered by some of the world’s top thinkers and practitioners. About the programme ‘’Turning Organisational Challenges into Strategic Opportunities for Sustainable Competitive Advantage

in Volatile Times programme,’’ is for organisations who aspire to be high performing, hope to be more agile and wish to convert challenges into opportunities faster. Nigeria’s complex socio-economic landscape, challenges are inevitable. It is, therefore, essential to turn these challenges into opportunities that will help drive profitable growth. This training is designed to develop your capacity to be more aware of yourself as a leader, your team, plus your organisational weakness.

Why should you attend this programme You will acquire insights on how to transform business models and translate strategy into sustainable profit growth during tough times. The programme will enable you to discover the best practices in strategy formulation and how to implement them in volatile times. From the programme, you will ably develop problem-solving models and drive profitable innovation. The executive training programme will also help you create and implement strategies that are successful as well as harnessing opportunities from challenges facing your organisation.

Key Themes r "OBMZTJOH PSHBOJTBUJPOBM QPTJUJPO in the industry r 4USBUFHJFT GPS FGGFDUJWF HPWFSOBODF r %FWFMPQJOH PSHBOJTBUJPOBM ĂĄFYibility when the economic climate is unfavourable r &YQMPJUJOH DPNQFUJUJPO BOE UVSOJOH it into continued innovation r "WPJEJOH MBTUJOH SFQVUBUJPO Who is this programme for; r -FBEFST XIP BSF SFTQPOTJCMF damage to your organisation. r 8IZ TPNF TUSBUFHJFT XPSL BOE for the development and implementation others fail of competitive strategy.

Why should you enrol for Texem programmes Texem designs diverse tailor-made development programmes for executives solely based on research. The platform’s purpose is to achieve your career goals and objectives; given their professional experience in both the private and public sectors, it is the perfect choice for your organisational growth. You should enrol for these programmes because they offer an excellent education, research, and consulting services partnering with world-leading institutions. Testimonials “I found this programme very, very rewarding. In the past, I thought that the matter of sustainability-only related to matters of policy, but during the training, it has been broken down into the company level. For me, there are many takeaways that I hope to begin implementing once I get back home,� CEO and Publisher Businessday, Frank Algbogun said. Also, the Executive Vice President of Greater Washington, Owolabi Awosan. who had attended one of the programme said “I cannot wait to go back to Nigeria and start implementing the perspective that I have learnt today and grow my business.� “These Executive Minds Education programme is the best I have attended so far. It was humanly perfect,� Peter Atolo Irene, Executive Director of Finance & Admin, Union Assurance stated.

31

T H I S D AY Ëž Ëœ Í°ÍłËœ Ͱ͎ͯ͡

Shell, Chevron, Dangote Emerge Top Best 100 Companies to Work in Nigeria Emma Okonji The Jobberman 2019 Report on the ‘Best 100 Companies to Work for in Nigeria,’ has been released in Lagos, where Shell, Chevron and Dangote emerged the top best three companies to work for in Nigeria, with Shell taking the lead, followed by Chevron and Dangote. Other companies that emerged after the best three, were NNPC, Nestle, Exxonmobil, MTN, Total, Andela, KPMG, Nigerian Breweries, PwC, GTBank, Unilever, Google, among others. Giving details of the criteria for selecting the Best 100 Companies to work for in Nigeria, the CEO of Jobberman, Hilda Kabushenga Kragha, said over 60,000 compa-

nies in the database of Jobberman were surveyed. According to her, two surveys in the form of external and internal surveys were conducted. While the external survey targeted at the general public, which included external respondents, the internal survey focused on employees working at different companies in different locations across Nigeria. The report was conducted online, with focus on the intrinsic and extrinsic traits that workers desire in a company. Key parameters of respondents were based on gender, age group, job location, highest level of education, job level, employment status, work experience, among others. Some of the findings of the survey report in the area of Job

satisfaction, showed that 47 per cent of respondents surveyed were likely to leave their current employer in the next six months, 35 per cent were not sure, 18 per cent don’t want to leave, 48 per cent of respondents are happy with their current job, 43 per cent are neutral and 9 per cent are unhappy with their current job. According to the survey report, 69 per cent of the total respondents felt valued for the work they do, while 22 per cent do not feel valued for the work they do. “Based on our survey findings, we were able to come out with the best 100 companies to work for in Nigeria in our 2019 report, and the outcome of our findings is what makes a good company,

Kragha said. According to her; “In the past surveys, the top 10 companies were mostly tech companies like FinTeck and Tech Start-ups, but today, the report shows that the top 20 are the most stable companies in the oil and gas sector, and in the financial sector, with few tech- driven companies. “It is an annual report where we carryout survey on companies on our database, as well as employees and job seekers. We sample their opinion about the best company they will like to work for and what informs their choices, based on our set criteria. “We asked them why they want to work for certain companies, why they will want to change job or maintain job and the kind

of benefits and work experience they get from their employers. “We all looked at the DNA of big brands in Nigeria and their operations, in order to arrive at the Best 100 Companies to work for in Nigeria.� Analysing the importance of the report, Kragha said the survey report would help employers, employees and job seekers to understand their employer, their employees and the kind of company that job seekers desire to work for. It helps employers to understand their brands and employees’ perspective about their brands, and gives them insights on how best to improve their brands. It also helps employees and job seekers to have an idea about

the company they work for or intend to work for. Giving reasons for the new shift in employee’s choice of company to work for, Kragha participants present at Jobberman Report presentation, said: “The Nigerian economy is not growing as fast as employees want it to grow, compared to opportunities that abound in the western world. “The five intrinsic characters about millennials at work place are the reflection of millennial culture. Millennials don’t want to be micromanaged, they want to dictate their own pace and growth. “Again medical care is becoming important for millennials, because people want good health security for their families and for themselves while at work place.�

Fidelity Bank Rewards More Customers in Promo Nume Ekeghe Fidelity Bank Plc has rewarded more of its customers in its ongoing ‘Get Alert in Millions (GAIM) Season 4,’ with 13 cash winners and consolidation prize winners, at the weekend. The winners who emerged from various geo-political zones, all received their cash prizes to the tune of N15 million in total and consolation prizes which included generators, televisions, refrigerators. Speaking at the prize presentation in Lagos, the Managing Director/Chief Executive Officer Fidelity Bank, Mr. Nnamdi Okonkwo, said the bank remains committed to rewarding its customers. Okonkwo, who was represented by Regional Bank Head, Ikeja branch, Fidelity Bank Plc, Mr. Ken Opara said: “The GAIM 4 is the ninth promo being conducted by the bank in the last 13 years and this is not about Fidelity Bank mobilising savings, rather it is aimed at empowering Nigerians especially our customers

which is key to the growth and development of this economy. “We recognise that it is also important to build the savings culture amongst Nigerians to elevate their status and take their business to the next level.� He added: “It is worthy to note that similar presentations are also going on in our locations outside Lagos as total of 31 winners that emerged would be presented with prizes won and a total of N1.5 million worth of airtime will be also given to 1,600 customers as weekly give away.� The 32 winners emerged at the draw which covered various geopolitical zones including Lagos, South-west, North, Abuja, South-east and the South-south. Some of the customers commended the bank. The customers, Okechukwu Darlington and Chisom Akazie, received their cash prizes electronically in the presence of representatives from the National Lottery Regulatory Commission and the Lagos State Lottery Board verifying its authenticity.

SON Upgrades SONCAP Portal for Effective Service Delivery Chris Uba The Standards Organisation of Nigeria (SON) has upgraded its online application portal for the operation of the offshore Conformity Assessment Program (SONCAP) for processing of imports into Nigeria. A statement from the office of the Director General, Osita Aboloma, disclosed that the upgrade was in view of the classification of the portal as a critical national quality and trade infrastructure. In spite of teething problems associated with such major transition of Information, Communication Technology (ICT) infrastructure, the portal according to the statement was up and running. According to the Director Product Certification, Mr. Tersoo Orngudwem, the transition of the SONCAP Portal was not only successful but

has ensured a necessary upgrade in the system to ensure optimal performance, enhance a seamless operation and more efficient service delivery to customers and stakeholders alike. He described the process as a reflection of SON’s strict adherence to FG policies to improve on local content and facilitate relevant technology transfer. Orngudwem, described the upgraded portal as a one-stop shop that provides clients opportunity to apply, check status of application, send messages to SON and receive responses as well upload evidence of payments seamlessly. Other features according to him include: profile of the work done on Clients dashboard, documents used for application are all on the Clients dashboard, No more TIN error and no more mistakes in company name etc.

COURTESYVISIT

L-R: Team Lead, Growth Segment and Primary Markets, Nigerian Stock Exchange (NSE), Olanrewaju Odufuwa; Team Lead, Capital Market Division, Morayo Adekunle; Managing Director, Honeywell Flour Mills Plc, Lanre Jaiyeola; Head, Listings Business Division, NSE, Olumide Bolumole, and CEO Foods, Honeywell Group, Alan Palmer,during a courtesy visit by the leadership of the NSE to Honeywell Flour Mills in Lagos‌recently

FG to Support Berger Paints’N2bn Factory James Emejo in Abuja The Minister of Industry, Trade and Investment, Mr. Richard Adebayo, has assured of the federal government’s support for the takeoff of the fully automated, water-based paint factory by Berger Paints Plc. He said the plant, expected to be ready in December and commissioned in the first quarter of next year, would help to “create jobs, eradicate and take ten million Nigerians out of poverty, we are looking at industrialisation and agriculture.� Speaking when he received members of the company’s board and management team, led by its Chairman, Mr. Abi Ayida, who

paid him a courtesy visit, the minister said he had a mandate to support private sector industrial growth. Adebayo said: “We are proud of what your management is doing and we are ready to support you. I am not unaware of some of the challenges facing the paint industry in Nigeria. But we are working round the clock to address them.� Earlier, the chairman had informed the minister that the plant had reached the final stage of factory acceptance testing, adding that the N2 billion investment would help create jobs for Nigerians, strengthen the naira and sustain the local paint market. He said the project was expected

to be formally commissioned in the first quarter of 2020 by the minister. Ayida, also described the plant, which he said was built to international standards, as the first of its kind in the Sub-Saharan Africa. Ayida, said the company was on the cusp of a major revolution in the paint industry with the fully automated Water-based paint factory. According to him, the plant has adequate capacity for large volume production with derived benefits of increasing local capacity, thereby reducing importation of finished products and consequently strengthening the local currency. He said: “The new fully

automated factory is expected to activate the industrialisation era of the paint sector in Nigeria as this will be the trend going forward.� He, however, appealed to the government for improved access to foreign exchange for the importation of raw materials, which according to him account for about 80 per cent of the industry’s inputs. The chairman also sought for the promotion of paint technology in the nation’s tertiary institutions by including such in school curriculum to deepen local expertise. The company which has 100 per cent indigenous ownership commenced operations in the country in January 1959.

Henley Business School Promotes Entrepreneurship Development Hamid Ayodeji Henley Business School has expressed its preparedness for collaboration with the economic stakeholders in the country. This, the institution believe would enhance the entrepreneurship in the country. The British Business School disclosed that theoretically, entrepreneurs need to be equipped and mentored in terms of business decisions, development and sustenance, adding that with the right collaboration amongst the private and public sector, entrepreneurship

would boost Nigeria’s economy. Speaking at the Launch of a new Henley Business School Alumni Committee in Lagos, the Dean of Henley Business School, Prof. John Board, explained that its interest to develop a vibrant entrepreneurship and business culture in Lagos was derived from the institutions idea that in order to build a successful business, you must be able to understand your skills and capabilities. According to him, “as an entrepreneur you should know how to apply yourself into the business in such a way it impacts

the economy positively as problem solving innovations are generated.� Board added, “We are here as a business school to connect with a much larger range of Henley Alumni so as to ensure everyone is in connection with one another. “We are also here to collaborate with disruptors of sectors in the economy such as, the creative industry, Technology and digital space as well as the other sectors of the economy.� In his remarks, the Director of Development, Alumni Relations and External Engagements, Henley Business School Alumni, Jean-Pierre

Choulet said, “We are focused on developing people so we know now is the perfect time to find our way into Eastern and West Africa. “Nigeria has a rich population of two hundred million people with 65 per cent of the people below 35, which gives it a fruitful workforce and market. “We are working towards adding value to accompany the youths from the grass root, middle class and upper class to develop themselves and be enabled to drive Nigeria’s economy towards a sustainable developed economy.�

T H I S D AY Ëž Í°ÍłËœ Ͱ͎ͯ͡

32

CITYSTRINGS

ĂœĂ™Ă&#x;Ăš Ă?Ă‹ĂžĂ&#x;ĂœĂ?Ă? ĂŽĂ“ĂžĂ™ĂœË? Ă’Ă“Ă?Ă—Ă?Ă–Ă“Ă? äĂ?Ă™ĂŒĂ“ Ă—Ă‹Ă“Ă– Ă?Ă’Ă“Ă?Ă—Ă?Ă–Ă“Ă?Ë›Ă?äĂ?Ă™ĂŒĂ“ĚśĂžĂ’Ă“Ă?ĂŽĂ‹ĂŁĂ–Ă“Ă Ă?Ë›Ă?Ă™Ă—Ëœ ͙͔͙͚͚͓͖͑͑͑͒

Tackling Water Scarcity, Sanitation in Katsina Francis Sardauna examines the roles played by Governor Aminu Bello Masari in tackling water scarcity and the impact of his recent declaration of state of emergency on the WASH sector in Katsina State

F

or all the urban and rural transformation projects ongoing in Katsina State which can be readily acknowledged and verified, Water Supply, Sanitation and Hygiene (WASH) evidently occupies a prime place in the development agenda of Governor Aminu Bello Masari-led administration. The placement of water, sanitation and hygiene as the basic necessities of life and most secured channels of ensuring healthy living among citizenry and basis for sound economic and social development of any city, community or rural settlement is incontrovertible. For this reason and perhaps more, Katsina State under the watch of Masari has gradually become a discerning reference for where a very clean and pragmatic attempt is being made to tackle water scarcity and water-borne diseases from a multidimensional point of view as against what was obtainable in the past. The state government therefore replaced high lift pumps at Ajiwa Water Works, one of the gigantic projects that engulfed billions of naira but assisted significantly in pumping of treated water from Ajiwa to Katsina metropolis and other neighbouring communities. To ensure speedy and steady supply of treated water to urban and rural communities in the state, the Masari administration repaired and replaced numerable pumps in Funtua and Malumfashi Water Works as well as the replacement of submersible pumps and power generating sets at Daura Water Works. In his drive to further boost water supply across the 34 local government areas, the "people's governor" also rehabilitated and commissioned Sabke Water Works, semi urban water supply at Dutsi and Mashi Local Government Areas to increase access to safe drinking water. Also, the Zobe Regional Water Supply Scheme Phase one is at about 90 per cent completion. The project, according to Masari would be completed around December, 2019. And when completed, access to water supply in Katsina and its environs would be enhanced significantly. The Phase 1B of the project, when completed would supply treated water from Dutsinma through Karofi, Kafin Soli, Kankia and Charanchi and to ensure the success of the project, the state government has commenced discussion with relevant stakeholders on how to fund the completion of the project. The state government in synergy with the United Nations Children's Fund (UNICEF) has constructed over 3,500 hand pump boreholes, 100 Solar Motorised and over 450 Latrines in communities, primary schools, healthcare facilities and market places across the rural areas in the state. In addition, the Malumfashi Water Works has been carefully redesigned, expanded and plans are on the pipeline to construct a new treatment plant by the Masari's administration to increase the supply of potable water to Malumfashi and Kankara Local Government Areas. As part of effort to ensure uninterrupted water supply to residents of the state, the administration is also providing constant diesel to all the Water Works and some selected Semi-Urban Schemes in the State. In the area of sanitation and hygiene, the administration has done graciously well in stemming the menace of open defecation which hitherto bedeviled the state. This among other notable achievements in the sector led to the declaration of over 3,000 communities across the 26 SHAWN Local Government Areas of the state by UNICEF Open Defecation Free (ODF). Furthermore, the state has the largest number of communities duly certified as open defecation free communities in Nigeria. The recent World Bank report on the NORM survey also indicates that Katsina State has the highest percentage of safely managed sanitation in Nigeria due to the doggedness of Masari. In order to ensure adequate provision of treated water to the growing population of the state and reduce the high-prevalence of water-borne diseases, the state government had on November 13, 2019 declared a state

Katsina stakeholders inspecting the ongoing rehabilitation of the Ajiwa Water Works

Malumfashi Water Treatment Plant of emergency on WASH sector. Speaking at the event, Masari said the achievements recorded in the WASH sector were not enough to categorically say that his administration has achieved the desired result. He said: "Considering the population growth, the weak and inefficient maintenance mechanism of our water works and associated components, there is need for a strategic plan and an implementation framework to address the declined water sanitation and hygiene service delivery in the state. Consequently, I hereby declare a state of emergency in the WASH sector and campaign against open defecation in the State, and accordingly direct as follows: "Ministry of Water Resources to propose/ establish Inter-Ministerial Steering Committees on WASH, to be chaired by myself. The relevant MDAs to Launch sector reform via the adoption of State level action plan (ODF roadmap, WASH State Investment Plan); Participate in accessing the National WASH fund at the Federal Ministry of Water Resources". He stressed that the declaration was in line with the report of Nigerian WASH Poverty

Diagnostic (2017) which indicates that 61 per cent of Nigerians have access to improved water, out of which only 31 per cent have access to improved water in their premises. According to Governor Masari, the report further indicates that access to pipe water in urban premises declined from 32 per cent in 1990 to 7 per cent in 2015. He explained further, "as we are all aware, the President and Commander in Chief of the Armed Forces of the Federal Republic of Nigeria, Muhammadu Buhari had on November 2018 declared the state of emergency in Water, Sanitation and Hygiene (WASH) Sector in Nigeria. "During the declaration, the president requested state governments to domesticate the declaration of emergency in WASH Sector in their respective states". On that note, he further affirmed that the state government set aside N5 billion for toilet rehabilitation and provision of additional hand pump boreholes to schools across the state. According to him, the state government has concluded arrangement to start rehabilitating toilets and drilling of boreholes in selected

schools across the state. “The provision of toilets and drilling of boreholes is to improve sanitary condition in schools in the state. Already government in collaboration with UNICEF has intervened in over 400 schools by providing toilets and drinking water to students and pupils. “We are aware that if we provide clean water to the public, we would have prevented 70 per cent of water borne diseases. We shall put in our best to continue supplying clean water to the entire residents of the state as we have promised during our campaigns,� he said. He however, commended development partners, particularly UNICEF for their contributions to institutions at the state and local government levels through capacity building and logistics support and urged them to sustain the tempo. Meanwhile, the unflinching efforts of the present administration in the WASH sector has drastically alleviated the spate of water-borne diseases such as diarrhea, cholera, dysentery, typhoid and polio which have hitherto bedeviled citizens due to negligence by successful administrations in the state.

33

T H I S D AY Ëž Í°ÍłËœ Ͱ͎ͯ͡

CRIME&SECURITY

The Chief of the Naval Sta, Vice Admiral Ibok-Ete Ibas (3rd from right) in a group photograph with the Amanayabo of Twon-Brass, His Royal Majesty, Chief Alfred Diete-Spi (4th from right) during the traditional father’s visit to the Naval Headquarters on Monday‌DINFO

RULAAC Calls for Re-evaluation of Laws, Policies Governing the NPF Chiamaka Ozulumba

C

iting some recent cases of anti-civic attitudes governing activities of the Nigerian Police (NP), the Rule of Law and Advocacy Accountability Centre (RULAAC) has called for the re-evaluation of laws and policies governing the police. It made this call during its recently held stakeholders meeting, involving members of the Nigerian Police and members of the Committee for Defence of Human Right (CDHR) in Lagos State. Speaking at the event, the chairman RULAAC, Mr. Okechukwu Nwanguma said investigations over the years show that the conduct and operations of the Nigerian Police mostly bear no resemblance to the requirements of the laws governing the operations of the service. Citing some cases Okechukwu noted that, "Law enforcement requires that some coercive or forceful capability exists to ensure compliance with the law as the police are authorised to use force in certain circumstance, such as effecting arrests or in self-defense. “From a human rights perspective, when police have authority to use force, including firearms, the most important principle is of proportionality using minimum force. This means that if no force is needed, for example to arrest a person, an officer should not use any force at all; if any force is used, it should be only so much as is strictly necessary to effect the arrest of that person. “The powers, functions and procedures of the Nigerian Police Force (NP) are founded on Nigeria’s 1999 constitution and regulated by law thus being the principal law enforcement agency in Nigeria, the Police exist to apply and enforce laws. “As an institution established by law within the public service, the NP is also governed institutionally by the civil service rules and financial regulations applicable to all federal institutions. “And thus, to direct the operations and management of the NPF, the Police Act empowers the Inspector General of Police to issue subsidiary legislation through regulations, standing orders, administrative instructions and circulars. All staff of the NP ought to be conversant with and have access to these applicable laws and standards.�

He however noted that in the 2006, Nigerian Police Force report, the Presidential committee on police reform acknowledged that “these important regulatory books that all officers of the NPF must acquaint themselves with are either in short supply or no longer in circulation which resulted in many young officers not being familiar with them to the detriment of their professional competence. “The Nigerian 1999 Constitution contains, among other guarantees, right to life, liberty, fair hearing and due process; prohibits torture and other cruel, inhuman degrading treatment and gives victims of human rights violations a right of access to courts for redress and remedies. “The presumption of innocence is

the foundation of Police investigation and through investigation, the Police gather evidence with which to rebut the presumption in specific cases. “But the NPF lacks the infrastructure and skills for skilled investigation and without the infrastructure and skills to support criminal investigation, the NPF is institutionally unable to respect the presumption of innocence nor maintain credible crime records. “Instead they resort to parading suspects in handcuffs and others killed by them extra-judicially, such as armed robbers to impress the general public that they are working when, at this stage the innocence of the suspects should be presumed and their human rights protected by the police." Okechukwu concluded that the leader-

ships of the NPF have acknowledged the principle that the police is created and regulated by law and that, "any form of exercise of police powers which does not strictly conform to the prescriptions of the law can have unpleasant consequences for the NPF as a corporate entity, as well as for the individual Police personnel. "Subsequent police leaderships have acknowledged the fact that abuse of police powers, abuse of due legal process and unprofessional conduct perpetuate a bad image for the NPF and corrode public trust and cooperation. "Law enforcement agencies must therefore, conduct themselves in ways that guarantee and invite public support as wrongful law enforcement methods cannot and do not encourage community collaboration and partnership�.

Increased Burglaries in Abeokuta Worries Edgal Kayode Fasua in Abeokuta

r As new Ogun CP rolls out reform measures

O

Edgal added that to that extent, he would ensure increased patrol of the state’s communities, to contain criminal elements; but he also called for the cooperation of the residents, noting that it is impossible for the police alone to track criminals. In demonstration of his commitment to community policing and safety partnership, the new Ogun CP said he had set up a new ombudsman, aimed at checkmating police excesses. He lamented that the bad eggs in the police had given the force a bad name, and that upon serious reflection, he decided to set up a Public Complaint Hot Centre at the state’s police headquarters, where aggrieved members of the public could come to lodge complaints against erring policemen and officers. "We are aware that we have bad eggs among us: just like we have good ones, we also have the bad ones. So, we want to flush out bad ones from the system. That is why I said that I am going to launch the Public Complaint Hot Centre and I am happy to inform you that I have set it up. It is a centre opened 24/7, so as to report the activities of my men and officers. "The purpose of this is to identify policemen and officers who don't want to key into safety partnership. We need to create a society where crimes are brought to a

gun State Commissioner of Police, Imohimi Edgal, has assured residents of Abeokuta, the state’s capital, that having arrived in the state, recurring cases of midnight burglaries that have been a source of worry will soon be over. Edgal, who held forte in Lagos State as Police Commissioner in the administration of former Governor Akinwumi Ambode, said he was worried when he arrived Ogun and the first briefing he got was that Abeokuta had been stalked by midnight burglars. Speaking in an interactive session with journalists at the Eleweeran police headquarters in Abeokuta, the CP said though burglary was the least of crimes he had had to surmount, he would confront the latest challenge with the same zest he deployed in Lagos to fight robberies and kidnapping. “When I arrived here, the issue of burglary was the first briefing I got, and the following night, I set out between 1am and 3am, patrolling the Abeokuta metropolis, and the first thing I noticed is that, we don’t have enough police presence in the streets. “If there are police check points at all strategic locations, anyone contemplating burglary will think twice, as he will definitely find it difficult to escape with the loot.�

tolerable level. This can only be made possible through a community-driven security network. And I want to make it clear that actions will be taken against erring police officers whose conducts contravene our philosophy of community policing.� Edgal thus listed 10 telephone lines which the Ogun State residents can call, to lodge complaints against policemen acting outside their brief. The numbers are: 07081970735, 07083817391, 08189009113, 08164684395 and 08058701189. Others are: 08058701147, 08060148672, 07080154562, 08064741658 and 08064071875. "I want to assure you that I will sanction any erring member of this force. Any policeman or woman who asks you for money before your matter is taken, just call the number. If your right is being infringed upon by a policeman, just call any of the numbers. "If you see anyone who is misbehaving, just call any of the numbers, either in your native Yoruba language or English language. I want to assure you that your complaints will be taken and actions will be carried out," he pledged. The CP also said he would soon embark on townhall meetings with communities in the state, with a view to fostering policecommunity relations.

34

IMAGES

T H I S D AY Ëž Í°ÍłËœ Ͱ͎ͯ͡

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: Vice Chancellor, Dominican University, Rev. Father Professor Anthony Akinwale; Guest Speaker, Professor Bart Nnaji; and Mrs. Blessing Mba, at the Second Distinguished Guest Lecture, titled: Let There be Light: at the University Campus Samonda, Ibadan...recently PHOTO: FELIX ADEMOLA

L-R: Head, Marketing, MultiChoice Nigeria, Tope Oshunkeye; Executive Head, Content, MultiChoice Nigeria, Busola Tejumola; Chief Customer OďŹƒcer, MultiChoice Nigeria, Martin Mabutho and Executive Head, Corporate Aairs, MultiChoice Nigeria, Caroline Oghuma during the Launch of new DStv and GOtv packages for Nigeria held in Lagos...recently PHOTO: ABIODUN AJALA

L-R: Chief Operating OďŹƒcer, Eat’N’Go Limited, Ashwine Dhanuka; Founder, Slum2School Africa, Otto Orondaam and Chief Executive OďŹƒcer, Eat’N’Go, Patrick McMichael at the Eat’N’Go 50million Naira commitment to Slum2School press brieďŹ ng in Lagos...recently PHOTO: ABIODUN AJALA

Nollywood diva, Ini Edo; AFRIFF Founder & Executive Director, Chioma Ude and Screen goddess, Uche Jombo at the closing of AFRIFF 2019 hosted in partnership with US Consulate & Access Bank in Lagos...recently

L-R: Governor of Katsina State, Aminu Masari; Governorof Kwara State, Abdulrahman Abdulrazaq; Governor of Taraba State; Dickson Darius Ishaku; Vice Chairman, Nigeria Governors Forum (NGF), Sokoto State Governor, Aminu Tambuwal; and Governor of Plateau state, Simon Lalong, during the NGF meeting on national issues at the Forum secretariat Abuja... recently

L-R: Managing Partner, Alliance Law Firm, Uche Val Obi; Executive Associate, Blessing Choko and Partner, Dr. Jude Odinkonigbo, duringthe Press BrieďŹ ng by Alliance Law Firm on the forthcoming Annual Lecture 2019 in Lagos...recently PHOTO: KOLAWOLE ALLI

L-R; Country Lead, Sustainability and Stakeholder Management, lnternational Breweries Plc, Mrs Temitope Oguntokun; Director, Legal and Corporate Aairs, Otunba Michael Daramola; Chairman, lnternational Breweries Foundation, Mr. Peter Bamkole and Company Secretary, Mr. Muyiwa Ayojimi at the media brieďŹ ng to announce the upcoming Kickstart grant, awards to successful beneďŹ ciaries in Lagos...recently PHOTO: ABIODUN AJALA

T H I S D AY Ëž Í°ÍłËœ Ͱ͎ͯ͡

35

L-R: Corporate Communication Manager, Nigerian Aviation Handling Company Plc (NAHCO), Mr. Tayo Ajakaiye; Group Managing Director/CEO, Mrs. Olatokunbo A. Fagbemi; Chairman, League of Airport and Aviation Correspondent (LAAC), Mr. Olusegun Koiki and Head of Customer Experience, NAHCO Aviance, Mr. Kelechi Amaeshi, during the LAAC Gateway Forum with GMD/CEO, NAHCO Aviance, at Murtala Muhammad Airport, Ikeja, Lagos...recently

L-R: Minister of State, Nigeria National Petroleum Corporation (NNPC), Chief Timipere Sylva; First Position of the 2019 NNPC National Science Quiz Competition, Master Oluwatobi Ojo; Chairman, Dangote Group, Alhaji Aliko Dangote and Group Managing Director, NNPC, Mele Kolo Kyari, at the ďŹ nals and grand ďŹ nale of National Science Quiz Competition organized by NNPC in Abuja...recently PHOTO: ENOCK REUBEN

L-R: Guest Speaker/ Ekiti State Governor, Dr Kayode Fayemi; Ambassador Johnnie Carson of the United States Institute of Peace (USIP); and Troy Fittrell of the US Department of State, at the lectureTwenty Years of Democratisation in Nigeria: Successes and Challenges delivered by Dr Fayemi at the USIP, Washington D.C.; United States of America...recently

L R: Managing Director/CEO, Kofsol Group, Olaosebikan Oyesola Kofoworola; Director General, SMEDAN, Dr. Dikko Umaru Radda and Senior Enterprise OďŹƒcer, Department of Planning, Research, Monitoring & Evaluation, SMEDAN, Hannah Abul, during the Signing of Memorandum of Understanding(MoU), between SMEDAN and Kofsol Concepts Nigeria Limited held at the SMEDAN headquarters, Abuja... recently PHOTO KINGSLEY ADEBOYE

The Former President of Ireland & Global Chair of Elders for Climate Change, Mary Robinson (right),and former governor of Anambra State, Mr. Peter Obi at the United Nations Foundations programme at the UN Headquarters, New York, USA...recently

L-R: President/CEO, PEARL Awards Nigeria, Mr. Tayo Orekoya; Group Chief Commercial OďŹƒcer, Dangote Industries Ltd & Member, PEARL Awards Board of Governors, Mr. Rabiu Abdullahi Umar; Board Chairman, Dr. Faruk Umar and Past President, Lagos Chambers of Commerce and Industry and Board Member, Chief Mrs. Nike Akande, at the Induction of Rabiu Umar into the PEARL Awards Board of Governors in Lagos... recently

L-R : 2nd Vice President, Nigeria Stock Exchange, Catherine Echeozo; President, Chartered Institute of Stockbrokers, Mr Dapo Adekoje; Chairman, House Committee on Capital Market, Mr Babangida Ibrahim; Former DirectorGeneral, Nigeria Stock Exchange, Ndi Okereke-Onyiuke; Director, Federal Ministry of Industry, Trade and Investment, Mr Francis Alaneme and CIS’ Ist Vice President, Mr Tunde Amolegbe at the 23rd annual conference of CIS in Lagos...recently

36

T H I S D AY Ëž Ëœ Í°ÍłËœ 2019

BUSINESS/MONEYGUIDE

‘Leveraging Technology Will Boost Economic Growth’ Nume Ekeghe The Managing Partner, Alliance Law Firm, Mr. Uche Val Obi, has stressed the need for government at all levels as well as the private sector to embrace technology, saying it is vital in enhancing Nigeria’s economy. Speaking at a media briefing recently, Obi owing to the importance of technology, his firm would be organising an event with the theme: “Leveraging Technology to Develop and Rebrand Nigeria.� He said: “This public lecture will bring together key stakeholders from across the world to discuss critical tropical themes central to the socio-economic development and industrial growth of Nigeria.

“It is part of the firm’s social responsibility aimed at giving back to the society. “When every person is captured, information gathering and retrieval become very seamless and with this information we can do a lot of things. “We can know the unbanked in the segment of the population and the banked segment of the population. “That helps you plan and resolve financial inclusion and without that you cannot plan the economy. Most of the things you see happening and the information are guessed works. “In fact, the strength of the Nigerian economy is grossly understated. That is why after all this shock you will see the economy still growing. It is

understated because we do not have the indices. There are quite a number of people doing things or oozing things that government never recognised. They are not in the net for economic planning.� He added: “So, there are a lot of productivity that are not recorded and it is also because we do not have the data. If we do have that you will find out that the size of the Nigerian economy could be several times larger than what it is today. So that it is why it is important that we invest technology.� The keynote lecture will be delivered by Leo Stan Ekeh, the Founder/Chairman of Zinox Technologies Limited. The event would be chaired by Dr. Ernest Ndukwe, the Chairman of MTN Nigeria Plc.

Investors Hail Coral Growth Fund’s Management Peter Uzoho Investors of Coral Growth Fund (CGF) have commended the Fund manager, FSDH Asset Management Limited, for its efficient and honest management of the fund since its establishment. They also advised the manager to continue investing in more securities to enable more people have access to funds to solve their financial problem. Speaking to THISDAY on the sidelines of the annual general meeting (AGM) of CGF held in Lagos, one of the unit holders, Mr. Ajao Johnny Adelakun, said: “I find the management of the fund very interesting. I’ve been in the investment since four years and I find it very interesting. “My advice to the managers is for them to invest in more projects and stocks so that those who need fund will be able to get it to solve their financial problem. “That’s what they should do going ahead. So, they should invest more, grow the fund

more, so that we can also have an increase in our dividends.� However, the Managing Director of FSDH Asset Management Limited, Olumayowa Ogunwemimo, who welcomed the advice, stated: “that’s basically what the Fund Manager is doing, trying to extract maximum value from the instruments that are invested.� Meanwhile, the Fund Manager’s Report for the year ending December 31, 2018 which was read at the meeting indicated a negative return of 1.08 per cent, but showed, however, that the Fund did out-perform the Nigerian Stock Exchange All Share Index (NSE ASI) which depreciated by -17.81 per cent in the same period. According to the report, “the Stock Market 2018 witnessed a short-lived bullish run for the first quarter in 2018 while there was a persistent bearish run for the rest of the year. The bullish run was essentially driven by expectations of bright macroeconomic outlook, as well as brilliant corporate management�.

It added: “In view of our opinion that some of the quoted stocks are trading below their fair value, we will take advantage of purchasing selected stocks with good fundamentals, take profit when the prices appreciate. In addition, in the fixed income and money market space, we will continue to look into high yielding securities�. The Coral Growth Fund established in February 2001, is an actively managed open-ended equity-based unit trust scheme that invests a maximum of 65 per cent of its assets in equity securities quoted in the Nigerian Stock Exchange and a minimum of 35 per cent in investment grade fixed income investments. The objective of the Fund is to enable investors achieve capital growth over the long term. In particular, the CGF is designed to enable investors satisfy a broad range of financial needs as it can be used as a private pension/retirement plan, investments plan, or children’s educational plan.

Unity Bank Empowers Young Entrepreneurs Hamid Ayodeji As part of efforts to promote entrepreneurship, Unity Bank Plc has disbursed grant worth N1 million to the three finalists in its ‘Corpreuneurship Challenge.’ Adebayo Abigail emerged as the winner, while Adesina Bolowatife won the second position and Jaja Opuine held on to the third position, respectively. The winner among the 10 ten finalists who pitched their business plan to a panel of judges at the Lagos State National Youths Service Corp camp (NYSC), Iyana Ipaja was given N500,000 grant whilst second position was offered granted of N300,000 and the third

position won N200,000. The sum was to enable them develop their respective businesses. Speaking at the event, the Group Head Retail and SME Banking, Unity Bank Plc, Funwa Akinmade, said the aim of the initiative was to aid skill acquisition and prepare the NYSC to be entrepreneurs and employers of labour. It is also to enable them cultivate a spirit of self-sustenance, innovation and creativity. According to him, the maiden edition of the competition, which also took place at the NYSC camps at Ogun State, Edo and Abuja, was to create the gateway for many more initiatives to boost the economy. Akinmade added:

“We are not going to merely give these entrepreneurs the funds, but also provide mentorship guidance to ensure they utilise the grant effectively as we advise them on business transactions. “We are looking to introduce this initiative to all the NYSC camps across the country so as to enhance our reach and empower entrepreneurs.� On his part, the Lagos State Coordinator, NYSC, Sunday Aroni, said efforts of Unity Bank was going to encourage youths to embrace entrepreneurship considering the fact that white collar jobs were no longer sufficient to cater for rising youth population.

Akanmu: We Must Redefine Purpose of Businesses in Nigeria Sunday Ehigiator The Executive Director, Retail Banking of First City Monument Bank (FCMB) of Nigeria, Olu Akanmu has said there is need for business entities in Nigeria to redefine their purpose in communities. Akanmu, made this disclosure recently, at the fourth chapter of the 2019 ‘Akinjide Adeosun Foundation’s Leadership Colloquium and Awards, held in Lagos.

According to him, “The purpose of business should not be about profit, profit should also have a social impact and we need to challenge ourselves in the context of a Nigeria with 92 million poor people. “Business models must be such that increase access to market and services to many more people. “We should not be contented with business just serving the top of the market and leaving 90 million Nigerians out of commercial market.

“We need to challenge ourselves with innovative business models that would task us to get our business to make profit but at the same time, deliver market and commercial assess to many more people in Nigeria, so we can have better inclusion and share prosperity in the country. “A situation for example, where only 40 per cent of Nigerians have a bank account, 60 per cent being left out of the banking system is not ideal.

L-R: Executive Director, Corporate Services, NEXIMBANK, Mr.Bala Bello; MD/CEO, Mr.Abba Bello, and Executive Director, Business Development, Hon.Stella Okotete, during the Bank’s 2020 budget presentation to the House Committee on Banking and Currency at the National Assembly in Abuja...recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

SEPTEMBER 2019 Money Supply (M3)

35,029,779.72

-- CBN Bills Held by Money Holding Sectors

7,374,356.91

Money Supply (M2)

27,655,422.82

-- Quasi Money

116,533,891.21

-- Narrow Money (M1)

11,121,531.60

---- Currency Outside Banks

1,625,047.69

---- Demand Deposits

9,496,483.91

Net Foreign Assets (NFA)

13,911,335.83

Net Domestic Assets(NDA)

21,118,443.89

-- Net Domestic Credit (NDC)

35,918,179.45

---- Credit to Government (Net)

10,452,199.38

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

11,007,422.79

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

25,465,980.07

---- Credit to Private Sector (CPS)

-14,799,735.56

--Other Assets Net

7,000,253.07

Reserve Money (Base Money

2,005,600.83

--Currency in Circulation

4,677,530.81

--Banks Reserves

317,121.43

Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

Money Market Indicators (in Percentage) Month Inter-Bank Call Rate

March 2018 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 ËœÍ°ÍŻ Ͱ͎ͯ͡

The price of OPEC basket of fourteen crudes stood at $63.68 a barrel on Thursday, compared with $62.22 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

37

T H I S D AY Ëž Ëœ Í°ÍłËœ Ͱ͎ͯ͡

MARKET NEWS

Shareholders Approve Fresh Capital for Consolidated Hallmark Insurance Goddy Egene Shareholders of Consolidated Hallmark Insurance (CHI) Plc has given approval to the board of the company to raise additional funds as part of efforts to boost its operations, play a leading role in the industry and deliver superior returns on investments. At an extra-ordinary general meeting (EGM) held in Lagos, the shareholders authorised the directors to raise additional capital of up to N1.057 billion through a

Right Issue of 2,032,500,000 units to the ratio of 1:4 at N0.52 per share. They also the authorised the directors to raise, whether by way of private/public, special offering, rights issue or a combination or any other method(s) they deem fit, additional capital of up to N4.5 billion or its equivalent whether locally or internationally or a combination of both, through the issuance of shares, long term debt, preference shares (redeemable or irredeemable), convertible and non-convertible

P R I C E S MAIN BOARD

F O R

DEALS

securities or depository receipts or any other instrument(s), whether as a standalone transaction, or a combination. Addressing the shareholders, Chairman of CHI Plc, Mr. Obinna Ekezie, said with your approval and continued support, the company would emerge a stronger and more formidable player in the sector, adequately equipped to meet the growing needs of its rapidly expanding clientele and with the ability to retain a higher proportion of risks hitherto ceded. According

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

to him, the operations of CHI Plc had since been enhanced with the earlier capital raise in 2017/2018, noting that the nine months ended September 30, 2019 attested to that. “Although the anticipated business climate is yet to be attained, additional resources deployed in operations have led to the latest results. Profit after tax (PAT) of N519.6 million was recorded during the third quarter as against the N355.9 million recorded in the

T R A D E D MAIN BOARD

A S

corresponding period of 2018, representing a 46 per cent rise. The result also revealed significant improvements in other indices. Gross premium written for the period grew by 23.7 per cent to N6.687 billion from N5.404 billion reported in September 2018. Also, total assets of the group rose to N11.159 billion from N10.821 billion during the corresponding period. There are strong indications that this trend would not only be sustained, but possibly surpassed as the financial

O F

year draws to a close,� Ekezie said. The chairman disclosed that the company was on the verge of being granted an operational licence by the National Insurance Commission(NAICOM) to operate a Micro-Life Insurance subsidiary. “Statutory deposit and licence application fee have been paid to the Central Bank of Nigeria and NAICOM respectively. The anticipated commencement date of full operations by this subsidiary is early in the new year,� he stated.

2 2 / 1 1 / 2 0 1 9 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

38

˾ MONDAY, NOVEMBER 25, 2019

DKE z͕ EKs D Z ϮϱƚŚ͕ ϮϬϭϵ ŽŵĞƐƟĐ ƋƵŝƟĞƐ DĂƌŬĞƚ͗ ZĞŶĞǁĞĚ /ŶƚĞƌĞƐƚ ŝŶ ƚŚĞ >ŽĐĂů

THISDAY AFRINVEST 40 INDEX

ŽƵƌƐĞ ƌŝǀĞ 'ĂŝŶƐ͙ ^/ ZŽƐĞ Ϭ͘ϱй t-o-t The local bourse experienced uninterrupted gains on 4 trading days save for losses recorded on Monday. Consequently, the

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

NSE All Share index rose 0.5% W-o-t ƚŽ ƐĞƩůĞ Ăƚ Ϯϲ͕ϵϵϭ͘ϰϮ points. Similarly, YTD return moderated to -ϭϰ͘ϭй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ĚĞĐůŝŶĞĚ Eϰϯ͘ϴďŶ t-o-W to close at Eϭϯ͘ϬƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚLJ ůĞǀĞů declined as average volume and

ǀĂůƵĞ ƚƌĂĚĞĚ ĨĞůů ϰϱ͘ϳй ĂŶĚ ϱϵ͘ϱй t-o-t ƚŽ ϮϴϮ͘ϳŵ ƵŶŝƚƐ ĂŶĚ Eϯ͘ϰďŶ ƌĞƐƉĞĐƟǀĞůLJ͘ dŚĞ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀŽůƵŵĞ ǁĞƌĞ h E ;ϮϮϵ͘ϭŵ ƵŶŝƚƐͿ͕ & E, ;ϭϱϯ͘ϰŵ ƵŶŝƚƐͿ ĂŶĚ ^^ ;ϭϯϭ͘ϵŵ ƵŶŝƚƐͿ ǁŚŝůĞ DdEE ;EϮ͘ϵďŶͿ͕ E/d, E< ;Eϭ͘ϳďŶͿ and h E ;Eϭ͘ϱďŶͿ ůĞĚ ďLJ ǀĂůƵĞ͘

Ticker

Current Price

THISDAY AFRINVEST 40

ŵĂƌŬĞƚ ĂƐ ƚŚĞ ^/ ŐĂŝŶĞĚ ϭϴďƉƐ͕ ϭϰďƉƐ͕ ϯϲďƉƐ ĂŶĚ ϰϰďƉƐ ƌĞƐƉĞĐƟǀĞůLJ ĨŽůůŽǁŝŶŐ ďƵLJŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ DdEE, E/' Z/ E Z t Z/ ^, E' D and E ^d> . We assume that the recent CBN͛Ɛ ƉŽůŝĐLJ ƌĞƐƚƌŝĐƟŶŐ ĂĐĐĞƐƐ ƚŽ KDK ŝůůƐ ǁŝůů ďƵŽLJ ƉĞƌĨŽƌŵĂŶĐĞ ŝŶ ƚŚĞ ĞƋƵŝƟĞƐ ŵĂƌŬĞƚ͘

ROA

P/E

P/BV

Divindend Earnings Yield Yield

0.57%

-14.4%

25.6%

15.7%

5.6%

5.6x

0.7x

6.8%

15.7%

29.40

-0.3%

19.2%

-14.7%

-14.8%

32.9%

5.4%

4.4x

1.4x

9.3%

22.5%

2 Zenith Bank PLC

18.65

0.3%

11.8%

-19.1%

-19.1%

24.3%

3.4%

2.9x

0.7x

15.0%

34.2%

144.40

-0.3%

8.1%

-23.9%

-22.4%

47.8%

23.1%

6.4x

2.9x

11.1%

15.7%

1,250.00

8.7%

8.1%

-15.8%

-15.3%

82.9%

26.3%

21.2x

17.5x

5.1%

4.7%

50.50

-1.9%

4.2%

-40.9%

-35.5%

10.2%

4.6%

23.6x

2.5x

4.6%

4.2%

3 Dangote Cement PLC 4 Nestle Nigeria PLC 5 Nigerian Brew eries PLC 6 FBN Holdings Plc 7 Cement Co Northern Nigeria PLC 8 United Bank for Africa PLC

11 Access Bank PLC

,ŽǁĞǀĞƌ͕ ĨƌŽŵ dƵĞƐĚĂLJ Ɵůů &ƌŝĚĂLJ ƚŚĞ ďƵůůƐ ĚŽŵŝŶĂƚĞĚ ƚŚĞ

ROE

1,256.12

9 International Brew eries PLC

ĚŝƉƉĞĚ ϯϯďƉƐ ĨŽůůŽǁŝŶŐ ƐĞůů-ŽīƐ ŝŶ K<KDhK/> and ^^.

Price Change Index to Date

1 Guaranty Trust Bank PLC

10 SEPLAT Petroleum Development C

dŚĞ ǁĞĞŬ ƐƚĂƌƚĞĚ ŽŶ Ă ďĞĂƌŝƐŚ ŶŽƚĞ ĂƐ ƚŚĞ ďĞŶĐŚŵĂƌŬ ŝŶĚĞdž

Price Previous Current Change Price Weightin YTD Change g

7.50

0.0%

5.9%

-5.7%

-6.3%

10.2%

1.2%

4.7x

0.5x

3.5%

21.3%

19.00

5.6%

5.2%

-2.1%

-2.1%

5.8%

5.4%

12.6x

0.7x

2.1%

7.9%

7.50

-1.3%

5.0%

-2.6%

-3.8%

0.5x

11.3%

9.40

0.0%

1.3%

-66.4%

-70.2%

-48.8%

-4.0%

549.70

0.0%

3.6%

-14.1%

-14.1%

14.4%

9.5%

3.6x

0.5x

6.8%

28.0%

10.05

-1.0%

5.9%

47.8%

54.6%

22.7%

2.2%

2.5x

0.6x

5.0%

39.6%

4.7x

-14.9%

12 Ecobank Transnational Inc

7.05

0.7%

1.7%

-49.6%

-50.7%

13.8%

1.0%

2.3x

0.3x

13 Stanbic IBTC Holdings PLC

40.00

0.0%

2.6%

-16.6%

-16.6%

27.0%

4.0%

6.1x

1.5x

5.0%

16.3%

8.6%

2.6%

5.2%

6.3% 10.3%

14 Unilever Nigeria PLC

17.45

0.0%

1.3%

-52.8%

-52.8%

3.4%

2.2%

37.9x

1.3x

15 Lafarge Africa PLC

14.30

-0.7%

2.3%

14.9%

19.2%

50.3%

23.4%

14.4x

0.7x

16 Guinness Nigeria PLC

31.00

0.0%

0.7%

-56.9%

-56.9%

4.8%

2.6%

15.9x

0.8x

17 Okomu Oil Palm PLC

43.9%

7.0%

55.00

10.0%

1.1%

-27.8%

-27.8%

18.3%

13.2%

9.8x

1.8x

3.6%

18 Total Nigeria PLC

110.90

0.0%

0.8%

-45.4%

-45.4%

1.0%

0.2%

138.7x

1.5x

15.5%

0.7%

19 11 PLC

147.90

0.0%

1.2%

-20.3%

-20.3%

22.5%

10.6%

6.8x

1.4x

5.7%

14.6%

6.5%

20 Flour Mills of Nigeria PLC

17.85

0.0%

1.1%

-22.7%

-19.6%

3.6%

1.3%

13.9x

0.5x

3.89

0.0%

1.1%

-22.2%

-19.0%

14.5%

2.6%

1.7x

0.2x

22 Fidelity Bank PLC

2.00

-4.3%

1.3%

-1.5%

-1.5%

12.4%

1.4%

2.2x

0.3x

5.4%

23 Transnational Corp of Nigeria

1.02

-1.0%

0.9%

-22.7%

-20.9%

11.7%

2.6%

5.2x

0.6x

2.9%

19.1%

24 Dangote Sugar Refinery PLC

12.75

-2.7%

0.9%

-16.4%

-13.9%

19.6%

11.6%

7.6x

1.5x

8.5%

13.2%

26 FCMB Group Plc

2.09

-4.1%

0.8%

10.6%

16.1%

9.2%

1.2%

2.5x

0.2x

6.7%

40.3%

27 UAC of Nigeria PLC

7.15

0.0%

0.5%

-26.7%

-25.1%

-24.5%

-11.3%

7.9x

0.4x

9.0%

12.6%

21 Oando PLC

7.2% 59.7% 44.6%

25 Diamond Bank PLC

ĐƌŽƐƐ ƐĞĐƚŽƌƐ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ŵŝdžĞĚ ǁŝƚŚ ƚŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚĞdž ŐĂŝŶŝŶŐ ƚŚĞ ŵŽƐƚ͕ ƵƉ ϲ͘Ϭй ĚƵĞ ƚŽ ďƵLJŝŶŐ ŝŶƚĞƌĞƐƚ in &>KhZD/>> ;нϵ͘ϴйͿ ĂŶĚ E'^h' Z ;нϵ͘ϬйͿ͘ WƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ

ŝŶ

KEK/>

;нϮϬ͘ϭйͿ͕ &KZd

;нϭϯ͘ϴйͿ͕

KZE Z^dKE ;нϯϱ͘ϱйͿ ĂŶĚ > thE/KE ;нϵ͘ϭйͿ ďƵŽLJĞĚ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ͕ ĂĚǀĂŶĐŝŶŐ Ϯ͘Ϯй ĂŶĚ Ϭ͘ϱй t-o -t ƌĞƐƉĞĐƟǀĞůLJ͘ DĞĂŶǁŚŝůĞ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ĂŶĚ &Z-ICT ŝŶĚŝĐĞƐ ĚŝƉƉĞĚ Ϯ͘Ϯй ĂŶĚ Ϭ͘ϵй ĂƐ EE (-ϱ͘ϬйͿ ĂŶĚ DdEE (Ϭ͘ϴйͿ ƌĞĐŽƌĚĞĚ ůŽƐƐĞƐ͘ &ŝŶĂůůLJ͕ ƐĞůů-ŽīƐ ŝŶ ^d Z>/E' (-ϴ͘ϱйͿ ĂŶĚ t D (-ϲ͘ϲйͿ ĚƌŽǀĞ ƚŚĞ ĂŶŬŝŶŐ ŝŶĚĞdž ĚŽǁŶǁĂƌĚƐ Ϭ͘ϵй t-o-

2.04

-1.9%

0.6%

7.4%

7.4%

8.0%

0.8%

6.8x

0.5x

29 Presco PLC

34.60

0.0%

0.2%

-45.9%

-45.9%

6.3%

3.8%

12.8x

1.3x

5.8%

7.8%

30 NASCON Allied Industries PLC

14.00

0.0%

0.3%

-22.2%

-22.2%

23.4%

8.6%

14.0x

3.3x

7.1%

7.1%

31 Forte Oil PLC

28 Sterling Bank PLC

18.10

9.0%

0.2%

-34.1%

-35.4%

15.7%

2.5%

32 Union Bank of Nigeria PLC

7.10

0.0%

0.5%

26.8%

26.8%

7.0%

1.1%

11.3x

0.9x

33 Julius Berger Nigeria PLC

19.00

0.0%

0.3%

-5.5%

-14.0%

25.0%

3.0%

2.8x

0.6x

91.6x

0.5x

2.9%

1.1%

100.6%

37.1%

8.4x

8.5x

11.9%

11.9% 17.4%

34 PZ Cussons Nigeria PLC

0.0%

0.1%

-56.6%

-57.3%

0.2%

-30.3%

-30.3%

36 Wema Bank PLC

0.71

-5.3%

0.3%

12.7%

12.7%

9.0%

0.9%

5.7x

0.5x

4.2%

37 Beta Glass PLC

53.80

0.0%

0.2%

-21.2%

-21.2%

17.8%

12.5%

5.0x

0.8x

2.4%

38 Dangote Flour Mills Plc

22.25

0.6%

224.8%

237.1%

-33.1%

-9.4%

39 Transcorp Hotels Plc

5.40

0.0%

0.1%

-11.5%

-11.5%

3.6%

1.8%

20.0x

0.7x

1.69

2.4%

0.1%

-7.7%

-7.7%

9.4%

2.6%

5.8x

0.8x

P ric e C hg %

A C C ESS

27.3

Z EN IT H B A N K

26.1

F ID ELIT YB K

ƉƌĞǀŝŽƵƐ ǁĞĞŬ͕ ĂƐ ϯϴ ƐƚŽĐŬƐ ŐĂŝŶĞĚ ĂŐĂŝŶƐƚ ϮϬ ƚŚĂƚ ůŽƐƚ͘ dŚĞ ƚŽƉ ƉĞƌĨŽƌŵĞƌƐ ĨŽƌ ƚŚĞ ǁĞĞŬ ǁĞƌĞ E /D d, ;нϰϬ͘ϬйͿ͕

ůĂŐŐĂƌĚƐ͘ /Ŷ ƚŚĞ ĐŽŵŝŶŐ ǁĞĞŬ͕ ǁĞ ĞdžƉĞĐƚ ƚŚĞ ďƵůůŝƐŚ ƐƚƌĞĂŬ ƚŽ

4.0x

40 AXA Mansard Insurance PLC

Vo lum e

(-ϮϬ͘ϳйͿ͕ dZ E^ (-ϴ͘ϵйͿ ĂŶĚ ^d Z>/E' (-ϴ͘ϱйͿ ůĞĚ

8.8% 10.5%

0.0%

T ic k er

KZE Z^dKE ;нϯϱ͘ϱйͿ ĂŶĚ , D^ ;нϯϯ͘ϯйͿ ǁŚŝůĞ > ^ K

-1.5%

5.25

T o p 10 T r a d e s b y V o l u m e

;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ĚĞĐůŝŶĞĚ ƚŽ ϭ͘ϵdž ĨƌŽŵ ϯ͘ϱdž ŝŶ ƚŚĞ

1.3x

24.30

35 Chemical and Allied Products P

W.

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ǁĞĂŬĞŶĞĚ ƚŚŝƐ ǁĞĞŬ͕ ĂƐ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ

14.8%

35.5%

20.2% -10.1%

3.0%

5.0% 17.1%

T o p 10 G a i n e r s T ic k er

P ric e

P ric e C hg %

-1.0%

OKOM UOIL

55.00

10.0%

0.3%

N EIM ET H

0.56

9.8%

15.6

-4.3%

IKEJ A H OT EL

1.25

9.6%

GUA R A N T Y

15.6

-0.3%

M C N IC H OLS

0.46

9.5%

A IIC O

12.7

0.0%

C OR N ER ST

0.84

9.1%

FB NH

12.4

0.0%

CHA M S

0.36

9.1%

UC A P

10.5

-1.8%

FO

18.10

9.0%

LA SA C O

7.1

-8.0%

N EST LE

1250.00

8.7%

J A IZ B A N K

6.8

-8.7%

C H IP LC

0.40

8.1%

NB

6.3

-1.9%

CCNN

19.00

5.6%

ĐŽŶƟŶƵĞ ĨŽůůŽǁŝŶŐ ƌĞŶĞǁĞĚ ŝŶƚĞƌĞƐƚ ŝŶ ƚŚĞ ŵĂƌŬĞƚ͘ ,ŽǁĞǀĞƌ͕ T o p 10 T r a d e s b y V a l u e

T o p 10 L o s e r s

ƚŚŝƐ ƐĞŶƟŵĞŶƚ ŵŝŐŚƚ ďĞ ƐŚŽƌƚ-lived as economic catalyst remain absent.

Afrinvest West Africa Limited

T ic k er

Value

P ric e C hg %

Z EN IT H B A N K

487.4

0.3%

T ic k er J A IZ B A N K

P ric e 0.63

P ric e C hg % -8.7%

GUA R A N T Y

460.1

-0.3%

C OUR T VILLE

0.23

-8.0%

M TNN

410.4

0.0%

LA SA C O

0.23

-8.0%

N EST LE

329.8

8.7%

WEM A B A N K

0.71

-5.3%

NB

318.0

-1.9%

F ID ELIT YB K

2.00

-4.3%

A C C ESS

276.6

-1.0%

FCM B

2.09

-4.1%

FB NH

94.0

0.0%

UN IT YB N K

0.68

-2.9%

D A N GC EM

63.0

-0.3%

D A N GSUGA R

12.75

-2.7%

UB A

44.2

-1.3%

NB

50.50

-1.9%

FO

40.9

9.0%

ST ER LN B A N K

2.04

-1.9%

Asset Management

Investment Research

Ayodeji Ebo | aebo@afrinvest.com

Ola Belgore | obelgore@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Adedoyin Allen | aallen@afrinvest.com

Oluwarotimi Ashimi | oashimi@afrinvest.com

Adedayo Bakare | abakare@afrinvest.com

Brokerage

39

MONDAY, NOVEMBER 25, 2019 ˾ T H I S D AY

MARKET NEWS

Uduk Named Fellow, 15 Professors, 215 Others Become Stockbrokers Goddy Egene

The Chartered Institute of Stockbrokers (CIS), at the weekend, named the Acting Director General, Securities and Exchange Commission (SEC), Ms. Mary Uduk and Registrar/ Chief Executive of CIS, Mr. Adedeji Ajayi, Fellows while 230 newly stockbrokers, the single

largest in the Institute’s history were inducted as Associate members. Also, the Managing Director, Central Securities Clearing System Plc, Mr. Haruna Jalo-Waziri; Head of Division, Shared Services, the Nigerian Stock Exchange, Mr. Bola Adeeko, 15 university Professors, other lecturers and some top civil servants made

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return. An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

the list of latest securities dealers in Nigeria at the investiture and induction ceremony which marked the end of the Institute’s 23rd annual conference in Lagos. Speaking on this development, the President of CIS, Mr. Dapo Adekoje who congratulated both new the fellows and associates urged them to uphold the tenets of integrity and professionalism

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 21Nov-2019, unless otherwise stated.

in order to be good ambassadors of the Institute. He explained that membership of some university dons would upscale the Institute’s research base as many of them had done several researches on the capital market. According to him, the development would enhance teaching of capital market

studies in the tertiary institution as envisioned by the Institute’s Governing Council. “For our friends joining us for the first time, the Chartered Institute of Stockbrokers was established by law, specifically Act 105 of 1992 (Laws of the Federal Republic of Nigeria) and given clear mandates to determine the standard of knowledge required

to practice as a core professional in the Securities and Investment industry in Nigeria, provide the required training, and duly certify those candidates that are deemed qualified to practice. In effect, no person can carry out core professional functions in the industry without obtaining appropriate certification from CIS,” Adekoje said.

Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 146.56 149.16 -6.65% Afrinvest Plutus Fund 100.00 100.00 14.62% Nigeria International Debt Fund 295.50 295.50 9.55% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.89 0.90 6.03% ACAP Income Funds 0.76 0.76 34.29% 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 11.59% AIICO Balanced Fund 2.42 2.46 9.01% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 14.87 15.32 -10.36% ARM Discovery Fund 340.36 350.62 -4.56% ARM Ethical Fund 28.57 29.43 1.16% ARM Money Market Fund 1.00 1.00 11.39% 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 N/A N/A N/A AXA Mansard Money Market Fund N/A N/A 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 1.94 1.94 13.76% 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 11.69% Paramount Equity Fund 12.32 12.44 4.38% Women's Investment Fund 110.06 110.95 6.38% 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 10.60% Cordros Milestone Fund 2023 98.08 98.78 Cordros Milestone Fund 2028 100.12 101.00 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 10.78% Coronation Balanced Fund 0.92 0.93 7.42% Coronation Fixed Income Fund 1.32 1.32 17.83% 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 11.20% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 10.72% EDC Nigeria Fixed Income Fund 1,175.84 1,181.42 17.91% 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 1,247.42 1,248.93 16.93% FBN Balanced Fund 142.54 143.49 -0.17% FBN Money Market Fund 100.00 100.00 11.49% FBN Nigeria Eurobond (USD) Fund - Institutional 118.52 118.83 8.93% FBN Nigeria Eurobond (USD) Fund - Retail 119.07 119.38 9.68% FBN Nigeria Smart Beta Equity Fund 129.03 130.71 -13.98% 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 11.04% Legacy Debt Fund 3.62 3.62 11.45% Legacy Equity Fund 1.08 1.10 -11.13% Legacy USD Bond Fund 1.08 1.08 4.52% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 3,027.85 3,060.42 1.49% Coral Income Fund 3,061.30 3,061.30 11.70% FSDH Treasury Bills Fund 100.00 100.00 12.40% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund N/A N/A N/A Nigeria Entertainment Fund N/A N/A N/A GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A

INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 11.27% Vantage Balanced Fund 2.18 2.21 1.20% Vantage Guaranteed Income Fund 1.00 1.00 13.46% Kedari Investment Fund (KIF) 141.25 141.40 13.04% LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.15 1.17 4.87% Lotus Halal Fixed Income Fund 1,112.48 1,112.48 11.66% 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 1.35 1.37 9.26% PACAM Fixed Income Fund 12.26 12.32 9.54% PACAM Money Market Fund 10.00 10.00 12.12% PACAM Equity Fund 1.05 1.06 PACAM EuroBond Fund 102.44 104.46 SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 127.72 129.17 6.14% 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 12.29% 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 2,441.70 2,452.75 5.45% Stanbic IBTC Bond Fund 208.96 208.96 12.26% Stanbic IBTC Ethical Fund 0.84 0.85 -11.05% Stanbic IBTC Guaranteed Investment Fund 271.76 271.85 11.99% Stanbic IBTC Iman Fund 144.84 146.31 -11.26% Stanbic IBTC Money Market Fund 100.00 100.00 10.98% Stanbic IBTC Nigerian Equity Fund 7,441.51 7,520.48 -12.40% Stanbic IBTC Dollar Fund (USD) 1.15 1.15 6.45% Stanbic IBTC Shariah Fixed Income Fund 101.61 101.61 0.00% UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.17 1.18 1.07% United Capital Bond Fund 1.72 1.72 16.28% United Capital Equity Fund 0.65 0.66 -9.09% United Capital Money Market Fund 1.00 1.00 11.29% United Capital Eurobond Fund 111.05 111.05 8.22% United Capital Wealth for Women Fund 1.06 1.07 6.15% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 10.09 10.24 -10.55% Zenith Ethical Fund 11.18 11.63 -9.56% Zenith Income Fund 22.68 22.68 12.17% Zenith Money Market Fund 1.00 1.00 9.73%

REITS NAV Per Share

Yield / T-Rtn

5.40 118.22 53.38

-44.85% 6.36% 3.17%

Bid Price

Offer Price

Yield / T-Rtn

7.87 90.19 71.24

7.97 92.14 72.59

-20.60% -20.33% -17.00%

Fund Name FSDH UPDC Real Estate Investment Fund SFS Skye Shelter Fund Union Homes REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.64 4.97 11.98 10.59 161.18

3.68 5.05 12.08 10.79 163.18

-9.04% -34.62% -17.99% -14.24% 21.20%

NAV Per Share

Yield / T-Rtn

108.40

17.40%

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.

40

MONDAY NOVEMBER 25, 2019 ˾ T H I S D AY

INTERNATIONAL

Plane Crash Kills 23 at DR Congo City Twenty-three bodies were recovered on Sunday after a small plane crashed on takeoff

into a densely populated area of Goma in the Democratic Republic of Congo, rescue

Netherlands to Resume Issuance of Schengen Visa in Nigeria Soon, Says Ngofa Nigeria’s Ambassador to the Netherlands, Oji Ngofa, has expressed optimism that the Dutch Embassy in Nigeria will resume issuance of Schengen Visas in Abuja in the shortest possible future. Ngofa told the News Agency of Nigeria (NAN) in Abuja yesterday, ahead of the visit of Prime Minister Mark Rutte of the Netherlands to Nigeria this week. In 2013, the Netherlands Embassy in Nigeria had swapped their visa application processes in Nigeria with the French Consulate-General in Lagos and the Embassy of Belgium in Abuja. Ngofa explained that following dialogues between the Nigerian Foreign Ministry and the Dutch Ministry of Foreign Affairs, the Netherlands Consulate office reopened its services in Nigeria in 2018 after closing it in 2013. He said the Netherlands trade office in Lagos has also been upgraded to a Consulate, adding that this should be a stepping stone to the issuance of visas by the Netherlands Embassy to visa applicants in Nigeria. He stressed that the issuance of

Schengen Visas to Nigerians by the Netherlands is only reciprocal as they have the ease of getting Nigerian visas directly from the Nigerian Embassy in the Hague. “We have had consular dialogues with the Dutch Ministry of Foreign Affairs and we are trying to ensure that all the obstacles towards achieving the direct issuance of visas are removed. “Because at the moment, they have outsourced the issuance of visas to the French Consulate in Lagos and the Belgium Embassy here in Abuja. “And we think that is not reciprocal because at the moment, we are offering our services to them in the Hague and we think that they should resume. “Since 2013, they closed their consulate in Nigeria that was issuing visas. Now, that has been reopened, it was part of the agenda during the visit of the Minister of Development Cooperation in July. “We have upgraded their trade office in Lagos to a Consulate and we hope that should be a stepping stone to the issuance of visas by the Netherlands to Nigerians who wish to travel to Schengen countries.

UN Committed to Promoting Welfare, Inclusion of Older Persons, Says Muhammad-Bande President of the UN General Assembly, Prof. Tijjani Muhammad-Bande says the global body is committed to promoting the welfare of the ordinary people, especially older people in the society. Muhammad-Bande said this while speaking in an interview with the News Agency of Nigeria (NAN) in Abuja, in response to a question on the legacy he hopes to leave after his one year tenure as the President of the UN General Assembly. “I think for us it’s not an issue just of legacy. I think we will continue to the very last day to do what is right in relation to what we’ve said we are going to do whether they make the headlines or not. “We want to make sure we do things that really affect ordinary people. This is what is important for us really. We just want to make sure we use the opportunity, the privilege given us. We will do everything in our power to promote that. “We have gotten a lot of support I can tell you from Nigeria and from other countries. “In fact all countries have supported us and we will do our best to push forward the agenda of inclusion, climate change, quality education, and poverty eradication,” he said. According to MuhammadBande, it is unfortunate that elderly people are often overlooked and as an intricate part of the United Nations goal on inclusion, the discourse is

of necessity. “I think it’s part of a broader conversation concerning categories of individuals that are usually excluded. “The aged suffer a certain form of disconnection. “With the UN pushing the idea of leaving no one behind, it’s important to look at those segments of society that are at times overlooked and they have challenges that are unique to them. The exclusion of the aged is an issue. “Certainly in some states there are efforts even in Nigeria to give support to the elderly. “It is an African conversation in which NGOs are also involved in West Africa and other parts of Africa also. “It is an issue concerning inclusion of categories of individuals who have been overlooked and they have real needs for support,” he added. According to the UN, On average, the poverty level for persons among the over-75 years of age, across countries of the Organisation for Economic Co-operation and Development (OECD) is 14.7 per cent, which is 3.5 per cent higher than the poverty level among 66 to 75 year-olds. The “oldest-old”, aged 80 years or over, are less able to work than younger older persons; are more likely to have spent their savings; and are most in need of age-appropriate health and long-term personal care services.

workers said. “We are up to 23 bodies now,” Goma rescue service coordinator Joseph Makundi told AFP. Goma airport official Richard Mangolopa said no survivors were expected from the disaster.

The Dornier-228 aircraft had been headed for Beni, 350 kilometres (220 miles) north of Goma when it went down in a residential area near the airport in the east of the country. “There were 17 passengers

on board and two crew members. It took off around 9-9.10 a.m. (0700 GMT),” Busy Bee airline staff member Heritier Said Mamadou said. Busy Bee, a recent company, has three planes serving routes in North Kivu province.

One of the company’s maintenance workers at the site quoted by news site actualite.cd, blamed a “technical problem.” The number of casualties on the ground was not yet known.

L-R: Access Bank Art X 2019 Prize Finalist, Christopher Nelson Obuh; Group Head Corporate Communications, Access Bank Plc, Amaechi Okobi, and Winner, Art X 2019, Etinosa Yvonne, during the presentation of AccessBank Art X Lagos 2019, in Lagos...recently KOLA OLASUPO

Cote D’Ivoire, Gambia Say Security Situation Improves with ECOMIG Operations Cote D’Ivoire and Gambia has said that security situation in their countries has improves through the help of multiple security operations and ECOWAS military intervention in Gambia. The countries disclosed this while giving their situation reports at the Second Ordinary Session of the ECOWAS Parliament held in Abuja. Hon. Muhamed Magassy, Member of the Parliament from Gambia said that the country had continued to experience political and economic stability, adding that the ECOMIG forces played an important role in ensuring peace in the country. “The Gambia continues to enjoy political and economic stability and pursues policies to promote the country as an economic gateway to Africa,

the country continue to attract offshore entities while the private sector also continue to draw more investment. “The security situation in the country continues to improve, the ECOMIG Forces continues to play an important role by ensuring peace and safety of all citizens. “The Security Service Sector Reform is progressing steadily with the first National Security Policy launched by the President of the Republic in June, 2019, drafting of a National Security Sector Strategy and a Security Sector Reform Strategy are also at an advance stage. “It is expected that the reform will transform the country’s security sector into an effective, professional forces capable of defending the supremacy of

the Constitution at all times.” He said that while the reform was ongoing, the services of ECOMIG was still needed and the county continue to count on ECOWAS and international community to provide needed resources to conclude the reforms. However, Mrs Kamara Aminata from the Cote D’Ivoire, said that the security situation in the country has improved due to the multiple security operation in the country. She said that with the new border security scheme, the country was able to prevent terrorists from coming into the country through the borders. She also noted that the Human Rights situation in the country was progressing with the establishment of the National Council on Human Rights

since 2018. “The National Security Council notes that with satisfaction the decline of the general security index, which has stabilized at 1.1 since April 2019. This improvement in the security environment is the result of multiple security operations conducted by all the defence and security forces. “A new border Security Scheme has been established to prevent terrorist threats and incursions at our borders, the president of the republic ensures the provision of the necessary resources for the implementation of this new security scheme.” News Agency of Nigeria (NAN) reports that the Second Ordinary Session of the ECOWAS Parliament which commenced on Nov. 18 will end on Dec. 14.

Bloomberg Formally Announces US Presidential Candidacy Michael Bloomberg announced Sunday he is running for president, joining the crowded field of Democrats seeking to take on his fellow New York billionaire, President Donald Trump. “I’m running for president to defeat Donald Trump and rebuild America,” Bloomberg, 77, said on his web page as

a $30 million Bloomberg ad campaign hit US airwaves. The announcement ended speculation about the intentions of Bloomberg, who for weeks has been filing paperwork to be eligible as a candidate in primary voting and registered with the Federal Election Commission. “We cannot afford four

more years of President Trump’s reckless and unethical actions,” the former New York mayor said. “He represents an existential threat to our country and our values. If he wins another term in office, we may never recover from the damage.” With a personal fortune of $50 billion, Bloomberg will

shake up the open race, with 17 candidates already vying to be the Democratic nominee to take on Trump next year. Former vice president Joe Biden leads the race ahead of left-wingers Elizabeth Warren and Bernie Sanders, with moderate Pete Buttigieg in fourth place, according to national polls.

US Supreme Court Justice Ruth Bader Ginsburg Hospitalised United States Supreme Court Justice Ruth Bader Ginsburg was admitted to hospital Friday night after experiencing “chills and fever,” the court said Saturday. Ginsburg, 86, was initially evaluated at Sibley Memorial Hospital in Washington, D.C. before being transferred to Johns

Hopkins Hospital in Baltimore in Maryland State for “further evaluation and treatment of any possible infection,” the court said in a statement. “With intravenous antibiotics and fluids, her symptoms have abated, and she expects to be released from the hospital as

early as Sunday morning,” it said. Ginsburg has been treated for cancer in a variety of forms over the past 20 years. Ginsburg was appointed to the Supreme Court in 1993 by then U.S. President Bill Clinton and was later confirmed by the

Senate by a vote of 96 to 3. U.S. President Donald Trump has filled two seats in the Supreme Court during his term — Neil Gorsuch in 2017 and Brett Kavanaugh in 2018. The appointments cemented a 5-4 conservative majority in the court.

MONDAY NOVEMBER 25, 2019 ˾ T H I S D AY

41

NEWSEXTRA

FG Pledges to Remove Impediments to Growth of Creative Industry The Minister of Information and Culture, Alhaji Lai Mohammed, has said that the federal government will remove all impediments to the growth of the creative industry, as part of the ongoing efforts to encourage the growth of the sector. The Minister gave the assurance yesterday in Lagos at the 2019 All Africa Music Awards (AFRIMA). “As we head into 2020, the successful commercialisation of the creative industry is our number 1 priority. It will create jobs, reduce crimes, be a major source of foreign exchange and thereby reduce our dependence on oil, rebrand our country

internationally and boost our GDP. “So, we in government are tackling all impediments to the industry thriving. We are making cheaper and longer term financing available for the industry, especially for infrastructural projects, like concert halls across the six geopolitical zones of the country, as recently announced by the Governor of the Central Bank of Nigeria,” he said. Mohammed said the government is providing the necessary framework through the Office of the Attorney General of the Federation to ensure that listeners of music pay for it.

In addition, he said internet data must be cheaper and owners of content must make more money from the use of their works. “The other big issue for commercialisation is the digital economy -data must be cheaper

and owners of content must make more money from the use of their works. I am sure you have been following the announcements by my colleague, the Minister of Communications, on this,” he said. The minister also said the

government is cleaning up the advertising industry and making sure proper measurement of content exist and are collated, stressing that this measure has the potential to add at least N50 billion annually to the creative sector.

The minister congratulated the organisers of AFRIMA for another successful hosting of the prestigious awards and the role they have been playing in the explosion, development and the success of African music.

PDP Elders Want Jonathan Punished over Bayelsa Election The Peoples Democratic Party (PDP) Elders Forum has called on the party’s national leadership to punish former President Goodluck Jonathan for allegedly betraying the PDP during the just-concluded governorship election in Bayelsa State. The PDP Elders Forum accused Jonathan of teaming up with the APC against the PDP, on whose platform he became the Bayelsa State Deputy Governor, Nigeria’s Vice-President and President during his political career. In a statement issued yesterday by its Chairman, Chief Benson Odoko, the PDP Elders Forum accused Jonathan of using the Bayelsa poll to negotiate with President Muhammadu Buhari not to prosecute him for alleged corruption. In the statement, Odoko alleged, “The former President, who visited President Muhammadu Buhari at the Presidential Villa in Abuja for

an undisclosed mission just before the election, kept his distance from the PDP and its members throughout the period of the campaigns leading to the election. “The forum was shocked when Jonathan and his wife donated the Aridolf Hotel to the APC as the operational contact point for visiting dignitaries of the party and as the venue for the party’s controversial primaries. “These actions of Jonathan clearly portray him as a betrayer of the PDP which gave him the platform to occupy the highest positions in the country, Bayelsa State, and millions of the PDP members just to protect his selfish interest.” It added, “The argument that Jonathan worked against the PDP because his preferred candidate, Chief Timi Alaibe, lost in the primaries was a pathetic perfidy meant to cover up the real reasons for this betrayal against Bayelsans and Nigerians.”

Fresh Crisis Hits Kano PDP Ibrahim Shuaibu inKano Fresh crisis is brewing in the Peoples Democratic Party (PDP) in Kano State over the replacement of the party’s Deputy National Chairman (North), Senator Nazifi Gamawa, which has been allegedly described as a “kangaroo selection.” Not satisfied with the selection of the party’s deputy national chairman, the Chairman of National Youth Collation for the Survival of PDP, Alhaji Salisu M. Muhammad, addressed journalists in Kano yesterday where he vehemently rejected the outcome of the selection meeting held last week in Bauchi. The group expressed dismay over what it called ‘kangaroo selection’ and unconstitutional ways of selecting new deputy national chairman without consulting members, stakeholders and even the three PDP governors of Bauchi, Taraba and Adamawa states. The youths vehemently rejected the unconstitutional process arising from the selection of the new deputy national chairman, instead of conducting the elections as provided by the party’s constitution.

“All the members of the PDP Board of Trustees, caucus and party chairmen in the zone were the ones responsible for the choice of the new deputy national chairman, but unfortunately something unconstitutional happened along the line. “The zonal PDP executives sat in Bauchi and conducted a kangaroo selection and picked Senator Nazifi Gamawa to replace late Babayo Gamawa who had earlier defected to APC,” the youths alleged. Muhammad called on the PDP national leadership to reject the unconstitutional selection of the new deputy national chairman, saying nine people aspired to the vacant position over nine months when late Gamawa resigned. “It is unfortunate that constitutional process was not followed in electing the new deputy national chairman. We wonder why a kangaroo selection process was embraced to pick Senator Nazif Gamawa as replacement to late Babayo instead of conducting an election that will include all major stakeholders. We have rejected the replacement because constitutional process was not followed.

WELL DESERVED HONOUR…

L-R: Founder of Crans Montana Forum, Ambassador Jean Paul Carteron; Deputy Secretary General, NATO, Mr. Murcia Geoana; and Chairperson of the Better Life Programme for the African Rural Woman, Hajia Aisha Babangida, during a presentation of Crans Montana Forum’s Gold Medal awards to Aisha Babangida in Brussels…recently

Rivers Govt Accredits 1,415 Private Schools In line with Rivers State Government’s desire to establish a formidable educational sector at the public and private institutions, the Committee for Accreditation and Approval of Private Schools setup by the Governor Nyesom Wike has submitted a comprehensive report to the state government. While receiving the report, Wike said he was concerned

and committed to ensuring that private schools are of approved standard with right facilities. The governor, who was represented by the Secretary to the State Government, Dr. Tammy Danagogo, added: “We have no doubt that this report will help us sanitise the educational sector to create a state with high educational standards befitting for the growth and

development of our children.” He directed the Ministry of Education to swing into necessary actions against schools denied accreditation and urged parents and national examination bodies to take note of the new development. He said the state government had further gone ahead to publish list of all affected schools in The Tide Newspaper

and THISDAY Newspaper of Monday, November 25, 2019. The Chairman of the committee, Prof. Ozo-Mekuri Ndimele, said out of a total number of 2,511 schools which applied for the accreditation, 1,415 schools were fully accredited, while 659 schools were granted interim accreditation and 437 schools were denied operational approval.

Establish Shari‘ah Courts in South-west, Muslims Tell Govs Kemi Olaitan in Ibadan Muslims in the South-west region under the auspices of Muslim Ummah of South West Nigeria (MUSWEN) have called on Governors Seyi Makinde (Oyo), Gboyega Oyetola (Osun), Dapo Abiodun (Ogun), Rotimi Akeredolu (Ondo), Kayode Fayemi (Ekiti) and Babajide Sanwo-Olu (Lagos) to establish Shari‘ah Courts in the region. The Muslims said the creation of the Shari’ah Courts in the six states of the region became necessary in order to cater for the yearnings of Muslims who are in the majority. MUSWEN made the demand yesterday in a communiqué signed by the duo of Alhaji Ishaq Kunle Sanni and Prof. Wole Abbas at the end of 4th

MUSWEN General Assembly held in Ibadan themed: “Muslim Unity and Contemporary Political Challenges in Nigeria” and made available to THISDAY. Sanni, who doubled as Chairman of the event and Abbas who is the Chairman, 4th General Assembly in the communiqué, maintained that the Shari’ah Courts when established would replace Shari‘ah panels being operated presently by Muslim organisations in the region. The organisation also insisted that institution of Hijab was sacrosanct in Islam and could not be compromised for Muslim girls and women in any part of the country, frowning at what it termed as a political lopsidedness against Muslims in the South-west and at the federal level. The communiqué also

announced the appointment of Prof. Muslih Yahya, a retired Professor of Arabic and Islamic Studies from University of Jos as the new Executive Secretary, following the expiration of the tenure of the pioneer Executive Secretary, Prof. Dawud Noibi. The communiqué read in part: “That Shari‘ah Courts should be established by governments in the South-western Nigeria in catering for the yearnings of Muslims who are in the majority to replace Shari‘ah Panels being operated presently by Muslim organisations. To ensure proper administration of justice, MUSWEN advocates urgent judicial reform, taking a cue from the principle of Islamic Judicial System. “That there have been some modest improvements in the state of the nation under the

present administration. That the federal government should intensify efforts to diversify the economy of the nation. That Muslims in the country should go about demanding for their rights in accordance with the law. “That institution of Hijab is sacrosanct in Islam and cannot be compromised for Muslim girls and women in any part of the country. That MUSWEN acknowledges the harmonious activities of the indefatigable President-General of the Nigerian Supreme Council for Islamic Affairs (NSCIA) and Sultan of Sokoto, His Eminence, Dr. Muhammad Sa’ad Abubakar CFR, mni and urges all Muslim Organisations in the South-west to cooperate with him in his efforts at piloting the affairs of Nigerian Muslim Ummah.

11 Communities Halt Female Genital Mutilation in Ebonyi Benjamin Nworie in Abakaliki Eleven communities that make up old Afikpo in Ebonyi State yesterday agreed to stop the practice of Female Genital Mutilation (FGM) in the area. The people in these communities renounced the age-long practice, describing it as harmful and obnoxious. The eleven communities

include: Itim, Ohaisu, Ibii/ Oziza, Opi, Ugwuegu, Amasiri, Ndukwe Nkpoghoro, Amogu, Amata and Unwana. The public declaration was made by these communities at Amuro-Mgbom Primary School in Afikpo during a programme organised by Ebonyi State National Orientation Agency (NOA) with support from the United Nations Children’s Fund (UNICEF).

Speaking at the programme, Chairman of Afikpo North Traditional Rulers Council, HRH Dr. Ewa Elechi, said “we have come to the climax of this solemn ceremony. Solemn in the sense that something that started many years before I was born is being destroyed today finally. Nobody is going to practice it again.” According to him, “We invited the women to destroy the tools of

FGM because they do the practice and we are happy that they have all agreed to destroy all the things they use in doing this FGM.” Also addressing the gathering, Ebonyi State Director of National Orientation Agency (NOA), Dr. Emman Abah, said FGM violates the basic rights of women and girls and seriously compromises their health and psychological well-being.

42

MONDAY NOVEMBER 25, 2019 ˾ T H I S D AY

NEWSEXTRA

Zamfara Govt Urges Police to Investigate Ex-Gov Yari for Arms Possession The Zamfara State Government has called on the police to investigate the state’s immediate past governor, Alhaji Abdulaziz Yari, over alleged arms possession as part of measures to stop banditry in the state. The call was made yesterday by the Governor Bello Matawalle’s Director-General of Press Affairs, Mallam Yusuf Idris at a news conference in Gusau, te state capital. News Agency of Nigeria (NAN) reported that the Publicity Committee of the opposition All Progressives Congress (APC) in the state had on Saturday at a press conference berated the PDP- controlled government in the state on the way and

manner Governor Matawalle is handling the affairs of the state. Idris said that the APC in the state should take the blame for allegedly using the outlawed members of the Yansakai group to kill innocent people in the state which is usually followed by reprisals. He said, “Since they (APC) claimed that there are over three million guns in circulation in the bushes of the state, Yari and his supporters should be invited by the police so that they can take them to where these firearms are so that the police can retrieve them,” Idris said. The governor’s aide, who noted that his principal had known the arts of governance

since 1992 when he represented Maradun/Bakura at the House of Representatives, assured that the peace initiative introduced by Matawalle about six months ago, had truncated the eight years of insecurity under the leadership of Yari. He said, “The political maneuvers of Yari and his supporters will not distract Gov. Matawalle from taking our state to the promised land of greatness.” On the issue of alleged N70 billion collected by Matawalle as stated by the APC, Idris said there was no such thing adding that the only loan request was for N1.5 billion which was still awaiting the approval of the state assembly.

15m People Risk Cancer in 2020, Expert Warns Victor Ogunje in Ado Ekiti An Oncologist at the Ekiti State University Teaching Hospital, Ado Ekiti, Dr. Abidemi Omonisi, has revealed that no fewer than 15 million people may suffer cancer globally in 2020, except concerted actions are taken to avert it. Omonisi warned that high incidences are expected in Africa, if concerted efforts are not taken to halt the spread.

He said it was disturbing that many of the medical workers in rural areas of Ekiti State have little knowledge about cancers and the essence of the campaign against the killer disease, saying this is slowing down the fight against the scourge. The medical expert spoke in Ado Ekiti at the weekend at a Breast and Cervical awareness programme and the launch of Ekiti Cancer Registry established in 2013.

At the programme attended by the Commissioners for Health, Dr Mojisola Yahaya Kolade; Women Affairs, Mojisola Fafure; the state first lady, Erelu Bisi Fayemi, distributed breast examination kits to women for early detection of cancer. Delivering a lecture entitled: ‘Burden of Cancer in Ekiti’, Omonisi added that cancer is not a new disease, describing it as an age long illness that had existed for over 2,000 years.

MONDAY NOVEMBER 25, 2019 ˾ T H I S D AY

43

NEWSEXTRA

Senator: I Didn’t Plagiarise Contents of Singaporean Anti-Social Media Bill Deji Elumoye in Abuja The sponsor of the social media regulatory bill at the Senate, Senator Mohammed Musa, has refuted claims that he plagiarised similar Bill recently passed into law in Singapore. The internet had been awashed at the weekend with claims that the bill entitled ‘Protection from Internet falsehood and manipulations bill 2019’, was plagiarised from a bill, which was not too long ago signed into law by the Government of Singapore. In a video broadcast released by one Frederick

Odorige of the Global Coalition for Security Democracy, he stated that the title of the Senator Musa sponsored bill was copied from the Protection from Online Falsehoods and Manipulation Bill 2019 passed on May 9, 2019 by the parliament of the Republic of Singapore and assented to by President Halima Yacob on June 3, 2019. Reacting to the allegations via his twitter handle, @ Sani313Movement, yesterday evening, Senator Musa denied the allegation. He justified the similarity of the two bills, saying “all over the world, legislation in other

jurisdictions do influence the form and substances in other jurisdictions, particularly and present the same or similar challenges of regulation”. Senator Musa cited as examples bills on Company Law Reforms, Trade Mark Legislations and Securities Regulations across the globe, adding that the problems and challenges of regulating

internet activities cuts across jurisdictions. He therefore submitted that it is inevitable that lessons be drawn from other jurisdictions in fashioning out workable solutions in Nigeria. The sponsor of the bill stressed that legislations across the globe are public documents “and national legislations do not claim right over them as to

form the basis for plagiarism over them, their effectiveness being limited to the territorial jurisdiction of each sovereignty”. Musa had on November 6 presented a bill titled ‘Protection from Internet Falsehood and Manipulations Bill, 2019’ before the Senate which passed through the first reading at plenary and stipulates a maximum penalty of three years jail term for

offenders. Odorogie had in the viral video also accused Musa of ingeniously substituting the word ‘online’ as used by the Parliament of Singapore for ‘Internet’ in the title of the bill. According to him, the other parts of the title and most of the other contents of the bill were exactly the same with that of the Singaporeans.

Buhari Sympathises with Kenya,Congo over Natural Disasters Olawale Ajimotokan in Abuja President Muhammadu Buhari has commiserated with the government and people of Kenya and Democratic Republic of Congo (DRC) over the deadly flood disasters and devastating mudslides that have ravaged some parts of two countries. . The federal government expression of solidarity with Kenya and DRC was transmitted via a statement issued yesterday by the media aide to the President, Garba Shehu. Buhari said: “The government of Nigeria sympathises with you and the victims of these deadly and devastating flood disasters and mudslides.” In separate messages of sympathy and solidarity to the leaders of Kenya and DRC, two countries most hit by the recent incidents

He expressed sadness over the loss of lives, the economic and social disruptions caused by recent natural disasters, adding that: “We are so interconnected by our common humanity that one man’s misfortune affects the joy of others because of the ligament of compassion that holds us together.” He noted that emergency management response is one of Africa’s biggest challenges of development. He called on African countries to work together to find a common strategy to minimise the human and economic impacts of these catastrophes. Buhari consoled President Uhuru Kenyatta of Kenya and President Felix Tshisekedi of Congo that the hearts and prayers of all Nigerians are with those affected by the natural disaster.

Kaduna Communities Cry out over Alleged Demolition of 300 Houses John Shiklam in Kaduna Tension has gripped some communities within the Kaduna metropolis following the destruction of over 300 houses by the Kaduna State Urban Planning Development Agency (KASUPDA). The areas are said to be marked for demolition following the illegal construction of houses. Some of the destroyed houses are still under construction while others had been completed and occupied. Addressing journalists yesterday in Kaduna, Yusuf Zomo, who spoke on behalf of the affected persons, said officials of KASUPDA stormed the communities at about 12 midnight last Saturday and started “demolishing” houses without any prior notice. THISDAY findings show that most of the houses are partially destroyed while in some cases, fences were pulled down. Zomo said personnel of

KASUPDA, accompanied by armed security agents, arrived in the communities with bulldozers, and went from place to place “demolishing over 300 houses.” He said the affected communities are Baban Saura, Anguwan Waziri, Karji, Tsohon Kamanz and Angwan Maigyero. Zomo, who spoke in Hausa language, said: “Initially, they said they didn’t want containers on the road, and the owners of containers were directed to remove them from by the roadside. ”The owners of the containers complied with the directives and removed the containers. “At about 12 midnight last Friday when everybody was asleep, they (KASUPDA officials) moved in with caterpillars and bulldozers. They were accompanied by armed security men who threatened to shoot anyone who came close to them.

CONGRATULATIONS …

L-R: Publisher, The Abuja Inquirer, Dan Akpovwa; his wife, Doris, being decorated with an award of Fellow of the Nigerian Association of Petroleum Explorationists by the outgoing President of the association, Ajibola, Oyebamiji; and Vice President, Elliot Ibie; during the association’s 37th Annual international conference in Lagos...recently KUNLE OGUNFUYI

Posterity Media Set to Present Two Books on Nigerian Media The Gatekeepers, a biographical work featuring 20 Nigerian Editors, columnists and media leaders, and Nigerian Journalism: 160 Years of Advancing Accountability, Promoting the Public Interest and Speaking Truth to Power, are set for public presentation on Tuesday, December 17. A statement issued yesterday by Posterity Media’s Founder/ CEO, Mr. O’Femi Kolawole, said the two books, published by Posterity Media, will be presented at the Lagos Oriental

Hotel, Lekki, Lagos at 11a.m. According to the statement, while The Gatekeepers, celebrates the inspiring contributions of editors to democracy and public accountability, Nigerian Journalism, a series of essays and articles by renowned Nigerian journalists and stakeholders, proffers ideas and insights on how to improve Journalism practice in Nigeria and Sub-Saharan Africa. Some of the editors featured in the books include Mr.

Olusegun Adeniyi, Chairman, Editorial Board, THISDAY; Mr. Mike Awoyinfa, veteran newspaper chief and former MD/Editor-in-Chief, The Sun; Mr. Dare Babarinsa, Editor-inChief, Gaskia Media Limited; Mr. Tokunbo Adedoja, Director, THISDAY Digital; Mr. Gbenga Omotoso, immediate past editor, The Nation; Mr. Eze Anaba, Editor, Vanguard, Mr. Don Okere, Editor, Daily Independent; Mr. Debo Abdulai, Editor, Nigerian Tribune; Mr. Seye Kehinde, Publisher/

Editor-in-Chief, City People; Mr. Azuh Arinze, Editor-in-Chief, YES International Magazine; and Mrs. Juliet Bumah, Editor, Sunday Telegraph, among others. The statement said the Governor of Lagos State, Mr. Babajide Sanwo-Olu, would be the Chief Host and Special Guest of Honour at the presentation ceremony which would be chaired by veteran journalist and former Governor of Ogun State, Chief Olusegun Osoba.

Mountain of Fire Crusade Kicks off in Abuja Mountain of Fire and Miracles Ministries, International headquarters Annex, Utako Abuja , is organising a oneday crusade, in Miracle City, Gwagwalada , along the lokoja /Kaduna express way Abuja. The General Overseer, Dr. Daniel Olukoya, will be

ministering with other anointed men of God. The theme of the crusade is “Great Deliverance Crusade.” It will start at 6a.m on Saturday, November 30. Many dignitaries from the public and private sectors will are expected at the crusade.

While in Abuja, Olukoya will attend the Pastors and Ministers Conference scheduled at the Velodrome on Friday 29, and also minister during the Sunday service at Utako. According to a press statement signed by the Overseer, Mountain of Fire

and Miracles Ministries, International Headquarters Annex, Utako, Pastor Godwin Ube , many buses have been provided to facilitate movement and ease transportation to the venue from Churches, Bus-stops and other locations

Daily Trust Agric Conference Begins Tomorrow The third edition of the Daily Trust Agric Conference and Exhibition will commence on Tuesday, November 26, 2019, at the Federal Palace Hotel, Victoria Island, Lagos, a press statement from the company disclosed this on Sunday. The statement signed by the General Manager, Business and

Strategy, Ahmed Shekarau, said the conference, with the theme “Repositioning Rice, Sugar and Dairy Production for Optimal Yield, is expected to be declared open by the Minister of Agricultural and Natural Resources, Alhaji Muhammad Sabo Nanono, and is aimed at tackling critical

issues along the rice, sugar and dairy value chains, with the view of increasing output. It said further that renowned businessman, Mr. Emmanuel Ijewere, who is a Co-chairman of the Nigeria Agribusiness Group (NABG), is expected to chair the event at which critical stakeholders like the Executive

Secretary/CEO of the National Sugar Development Council (NSDC), Dr. Latif Busari and the Executive Director/CEO, National Animal Production Research Institute (NAPRI), Zaria, Prof. C.A.M Lokpini would examine issues that are vital to the growth of the value chains highlighted.

44

MONDAY NOVEMBER 25, 2019 ˾ T H I S D AY

24 HOURS...

24 HOURS...

SERAP Petitions African Commission over Harassment of Sowore’s Sureties, Falana The Socio-Economic Rights and Accountability Project (SERAP) has sent an open letter to the Chairperson of the African Commission on Human and Peoples’ Rights, Mrs Soyata Maiga, and the commission’s members requesting them to intervene and put pressure on the Nigerian authorities and their agents to immediately end the intimidation and harassment of detained journalist and activist, Omoyele Sowore and Olawale Bakare. In the letter, SERAP asked the commission to also pressure the government to end the harassment of the detainees’ sureties and lawyers, particularly Femi Falana (SAN) who are only

defending their clients’ rights. According to SERAP, “Nigeria’s State Security Service (SSS) has stated that it would not release the activists until it is allowed to vet sureties that have already been verified by the court, implicitly harassing the sureties apparently with the aim of pushing them to disown the detained activists. Similarly, a group of apparently sponsored ‘protesters’ calling themselves ‘Save Nigeria Movement’ asked Femi Falana to ‘stop intimidating security agencies.’” In the petition dated November 22, 2019 and signed by SERAP’s deputy director, Kolawole Oluwadare, the organisation said: “The

harassment of detained activists for demanding strict compliance with court orders, and then their sureties as well as lawyers who come to their defence, shows a steady slide away from the rule of law and underscores the urgent need for the commission to insist on the restoration of respect for human rights in Nigeria.” SERAP also said: “The

harassment is emblematic of a broader pattern of official threats to and harassment of Nigerian civil society. We are concerned that rather than releasing Sowore and Bakare as ordered by the court, the Nigerian authorities are now implicitly intimidating the activists, sureties, and lawyers, particularly Femi Falana.” The letter copied to Mr. Diego

GARCÍA-SAYÁN, UN Special Rapporteur on the independence of judges and lawyers, read in part: “Apparently sponsored attacks, harassment, and intimidation of sureties and lawyers for doing their independent duties undermine and erode the integrity of the legal profession, access to justice, Nigerians’ confidence in the courts, and make a mockery

of the entire justice system. “The harassment is emblematic of a broader pattern of official threats to and harassment of Nigerian civil society. SERAP is seriously concerned that rather than releasing Sowore and Bakare as ordered by the court, the Nigerian authorities are now implicitly intimidating the activists, sureties, and lawyers.

Kogi SDP Guber Candidate Condoles with Family of PDP Women Leader Chuks Okocha in Abuja Ripples of the November 16 governorship election in Kogi State continued as the governorship candidate of Social Democratic Party (SDP), Natasha Akpoti, at the weekend paid condolence visit to the family of women leader of the Peoples Democratic Party (PDP), Mrs. Salome Acheju Abuh, who was burnt to death in Ochadamu, Ofu Local Government Area of the state. Akpoti, who paid a condolence visit to the deceased family in Abuja, described the death of Abuh as horrible, adding that nobody deserves to die in such a manner. “On behalf of the good people of Kogi State and Nigerian women, I have come here to sympathise with you. She did no wrong for supporting a candidate of her choice, even though we

are in SDP, humanity stands before party leanings. “Everyone was taken aback by the horrible death of Mrs. Abuh. Nobody deserves to die in such a horrible manner; we and the entire Nigerian women are with you to make sure justice is served. “No one should be killed in the name of democracy. We can’t believe Nigeria has deteriorated to this state, it is extremely unacceptable. “I can’t imagine the pains she went through in her last moment, calling for help until her voice was not heard, we are calling on the government to give justice to Mrs. Abuh,” she said. In his response, the husband of the deceased, Elder Simeon Seidu Abuh, described his wife death as traumatic, adding that the worst has happened to the family, as the family light has been put out.

Woman, Two Others, Arrested for Murder, Cultism Kayode Fasua in Abeokuta and Sunday Ehigiator in Lagos A 42-year-old woman, Temitope Akinola, who resides at Isote area of Shagamu, Ogun State, has been arrested by the state police command for allegedly killing her two-day old granddaughter. She allegedly killed the tot by feeding her with sniper insecticide. In a statement signed by the state police spokesperson, Abimbola Oyeyemi, a Deputy Superintendent of Police, Akinola committed the act on November 21, 2019, out of hatred for her son-in-law, and admitted to the crime. According to Oyeyemi, “On November 21, 2019, we arrested Mrs. Akinola, 42, a resident of Isote area of Shagamu, for allegedly poisoning her twoday-old granddaughter, which resulted to the death of the baby. “She was arrested when the police in Shagamu division received information after the reported death of the child. “The suspect, who has never hidden her hatred for her sonin-law, who is the father of the baby, was tending to the child

while her mother was bathing. Only for her to come back and met the lifeless body of the baby. “Upon the information, the DPO of Shagamu division, SP Okiki Agunbiade, detailed his detectives to the scene where the killer grandmother was promptly arrested. “On interrogation, the suspect admitted killing the baby because she didn’t fancy the idea of her daughter getting married to the father of the deceased. She confessed further that when she discovered that her daughter was pregnant, she made an attempt to terminate the pregnancy but her pastor warned her not to do so hence she waited for her to deliver before carrying out her ‘devilish’ intention. “She explained further that she poisoned the baby with a popular deadly insecticide. “The corpse of the baby has been deposited at Olabisi Onabanjo Teaching Hospital mortuary for autopsy, while the suspect has been transferred to homicide section of the state criminal investigation and intelligence department for further investigation and prosecution.”

BAD ROADS ON THEIR MINDS…

L-R: Director, Highways Construction and Rehabilitation, Mr. Oluyemi Oguntominiyi; Minister of Works and Housing, Mr. Babatunde Fashola; and Corps Marshal, Federal Road Safety Corps, Dr. Boboye Oyeyemi, during a meeting with Federal Controllers of Works in the 36 states, representatives of the Federal Road Maintenance Agency (FERMA) and federal government contractors in Abuja… recently

Gbajabiamila Cautions Students against Hard Drugs Adedayo Akinwale ín Abuja The Speaker of the House of Representatives, Hon. Femi Gbajabiamila, yesterday in Lagos warned students to avoid regrets in the future by staying away from hard drugs and truancy in school. The Special Adviser to the Speaker on Media and Publicity, Lanre Lasisi, disclosed this in a statement issued yesterday. Gbajabiamila, who stated this during a Health and Education initiative for students in Surulere 1 Federal Constituency in

Lagos, organised by some of his aides and other professionals under the aegis of the Gbaja Professional Volunteer Network (GPVN), said the need to take education seriously cannot be overemphasised. He said whenever he goes round to teach children, he always make sure he addresses certain things, away from academics, adding that there are certain things that are important in education beyond classroom education. The Speaker explained that the issue of drugs that has

permeated the society today is something he never hesitates to talk to the children about. He noted that it is important that the students should continue to imbibe the culture of going to school regularly, staying away from drugs, and also shun teenage pregnancy, and cultism, stressing that If only he can change the life of just one student, he would be fulfilled. “Dear students, your parents work hard to earn a living, to send you to school, it is important that you take your

studies seriously. I am here today, yes because of God’s favour, but because I went to school. If I didn’t go to school, I would not be here. So, that’s the importance of education. “On the other hand, for those who fail to listen to their parents and people like us who try to motivate them, I do not want to come around in 20 years and you tell me I wish I listened to you 20 years ago when you taught me and you tried to motivate me, but today I am begging for alms. That will never be your portion.”

Kashamu Hails Buhari over Adoke’s Arrest The governorship candidate of the Peoples Democratic Party (PDP) in Ogun State during the 2019 general election, Senator Buruji Kashamu, has commended President Muhammadu Buhari over the arrest of the former Attorney General of the Federation and Minister of Justice, Mr. Mohmammed Adoke (SAN), by the International Criminal Police in Dubai, United Arab Emirates. In a statement issued in Lagos yesterday, Kashamu said the arrest was a proof that

the fight against corruption being championed by the President Muhammadu Buhari-led administration was working. “The arrest of ex-AGF Adoke is another step in the right direction in the anti-graft war of the President Buhari-led administration. It is gratifying that the long arm of the law has caught up with Adoke in spite of his attempts to wriggle out of the intricate web of corruption that he is trapped in. It is discomfiting how people get into public

office, abuse the trust reposed in them and then turn round to avoid being held accountable for their actions and inactions. “It is good that yesterday’s men of power like Adoke are being made to account for their actions while in office. As AGF, Adoke carried on as if he was law unto himself. He acted with impunity and high degree of lawlessness. It was difficult to imagine that he was the Chief Law Officer of the Federation. How could the nation’s Chief Law Officer have engaged in unlawful acts?

Now, the day of reckoning is here; and he is running from pillar to post to avert being held to account for his deeds while in office. The law of Karma has caught up with him; what goes around comes around. “I commend and congratulate President Buhari, the INTERPOL and the Economic and Financial Crimes Commission (EFCC) on the arrest of Adoke. The move has shown that the law is no respecter of persons. People can run but they cannot hide.

Senate Committee Chair Lauds Abiodun on Performance Kayode Fasua in Abeokuta Chairman, Senate Committee on Finance, Senator Solomon Adeola, at the weekend, expressed delight at the level of rural transformation witnessed in Ogun State in “just six months” of the administration

of Governor Dapo Abiodun. Adeola spoke at the annual Oronna Festival of the Ilaro-Yewa kingdom in Yewa South Local Government Area of Ogun State. The Senator, representing Lagos State West Senatorial district, but hails from Ilaro in Ogun State,

had led five other senators to witness the 2019 Oronna, which he described as “federal governmentendorsed tourism festival.” Commenting on the performance of the Abiodun administration so far, Adeola said: “The peculiar circumstances of

your (Abiodun’s) ascension to the exalted seat of governor in Ogun State and legal challenges notwithstanding, you have so far discharged the mandate of your office creditably…with so many impactful policies and programmes.”

45

MONDAY NOVEMBER25, 2019 ˾ T H I S D AY

24 HOURS...

24 HOURS...

Buhari Has Kept His Promise to Niger Delta People, Says Dokubo The Coordinator of the Presidential Amnesty Programme, Prof. Charles Dokubo, said yesterday that President Muhammadu Buhari has kept to promises made to the people of Niger Delta towards the enhancement of peace and human capital development in the region. He gave assurance that efforts would be intensified to explore employment opportunities, avenues for self- employment and massive engagement of beneficiaries of the Amnesty Programme. Dokubo spoke yesterday at Okochiri, Okirika Local Government of Rivers State on the sidelines of a colourful

ceremony to mark the second coronation anniversary of His Royal Majesty, King Ateke Michael Tom, the Amanyanabo of Okochiri Kingdom, Okirika. He noted that the mandate of the Presidential Amnesty Programme is not only to train and empower enlisted beneficiaries, but to deepen peace in the Niger Delta region through human capital development. “If you think my major interest is empowerment of beneficiaries of the Amnesty Programme, that is just a bit of my mandate. My major work is to maintain peace and security in the Niger Delta as well as to enhance

human capital development. Empowerment is part of human capital development. I was here for empowerment about two months ago, to empower those that had been trained by King Ateke Tom. “This is a celebration of what he has done; not only celebrating the second anniversary of his becoming a king, but also the fact that in collaboration with him, we have empowered people in the community he belongs.

King Ateke Tom has been very instrumental to maintaining of peace and security in the Niger Delta; his camp is a peaceful camp and those he trained are being empowered. They don’t look at any other person; they know that they will get whatever they deserve, and that is why it is so important empowering a king in the Niger Delta”. Dokubo commended President Buhari for his conviction on the Presidential Amnesty Programme

as a vehicle to transform the Niger Delta region, expressing optimism that beneficiaries of the programme will become change agents not only for the Niger Delta, but across the country and globally. “We’ve done a lot of training. I was here recently for the graduation ceremony of our beneficiaries trained in oil and gas. The Niger Delta environment is most populated with oil and gas facilities; what

we do is to empower our youths so that our people also will be qualified to compete and have the competitive edge with the basic technology in Niger Delta. And I strongly believe that because our people feel the positive impact of the federal government’s outreach, the promises kept, they are very happy. If we keep to promises, which President Buhari has done, there will be sustainable peace in the Niger Delta”.

House Directs Julius Berger to Open Abuja-Kaduna Road Adedayo Akinwale ín Abuja House of Representatives has directed Julius Berger to as a matter of public necessity to open the completed section of the Abuja-Kaduna Expressway to motorists to ease vehicular movement. The House Committee on Works equally summoned the Permanent Secretary of the Ministry of Works and Housing, Dr. Mohammed Bukar, the Director (Highways) Construction as well as Julius Berger to brief it on the status of the ongoing works on AbujaKaduna and Zaria-Kano road projects. This was disclosed in a statement yesterday by the House Committee Chairman, Hon. Abubakar Kabir Abubakar. The committee said it has become imperative for the appropriate bodies to provide necessary explanations following a barrage of complaints coming from well meaning Nigerians travelling on this corridor. Abubakar said: “The ongoing rehabilitation and dualisation of the Abuja-Kaduma Highway is causing untold hardship to

motorists and other road users plying that road. “The partial closure of some sections has caused enormous financial and labour time losses due to road traffic congestion and long hours spent on the road.” Abubakar noted that it has been observed that the quality of life of those commuting on that has started to decline, adding that journey that normally takes four hours now takes at least nine hours. “We call on the construction company working on the road to expedite action on the project so as to complete it on time. They should immediately open up closed sections of the road they have completed to motorists so as to reduce the long hours spent travelling on the road,” Abubakar said. The committee equally called on relevant authorities such as the Federal Road Safety Corps (FRSC) and the Nigeria Police Force to provide adequate security and ensure that motorists drive within the maximum speed limit of 50 km per hour as the maximum limit allowed at construction zones.

FGC Ikot Ekpene Inaugurates 2020 Reunion Committees The alumni association of the Federal Government College, Ikot Ekpene, Akwa Ibom State, has inaugurated committees to organise its 2020 Grand Reunion next year. The inauguration ceremony, which took place in Uyo, Akwa Ibom State, was attended by alumni drawn from the Class of 1979 through the Class of 2015. The meeting was anchored by the Chairman, 2020 Grand Reunion Planning Committee, Hon. Enobong ‘Alan Hammer’ Uwah. Committees inaugurated were Protocols, Welfare and Entertainment, Media and Publicity, Finance, Medical, General Services, Awards and Gala Nite, Logistics and Security. Members of the inaugurated

committees were nominated by those in attendance. The Chairman, 2020 Grand Reunion Planning Committee stated that only alumni committed to the cause should be nominated and directed that everyone present volunteer themselves for Committee service by virtue of being on site in Akwa Ibom State. The draft programme of the 2020 Grand Reunion was presented to the gathering by the Chairman, Planning Committee and the draft programme was deliberated on with inputs from alumni. The Chairman further stated that the final list of inaugurated committees was be communicated to alumni in due course.

PROJECT INSPECTION …

Yobe State Governor, Alhaji Mai Mala Buni (middle) during the inspection of the ongoing renovation works at the Buni-Yadi General Hospital in Gujba Local Government Area of the state.....yesterday

CSIC Tasks FG on Fiscal, Geographical Restructuring Contrary to some views that Nigeria’s problem was not about geographical restructuring but fiscal federalism, a nongovernmental organisation, the Centre for Social and Inter-Ethnic Cohesion (CSIC) has said the country actually needed both fiscal and geographical restructuring. Vice President Yemi Osinbajo had recently asserted that “we do not need geographical restructuring but good governance, honest management of public resources and a clear vision for development.”

But CSIC Director of Media, Mr. Wellington Olaiya, said the country did not only need fiscal and geographical restructuring, but also a national security ideology that placed national interest far above religious, ethnic or personal interests. Urging the federal government to kick-start the process of restructuring in the country, Olaiya described the 1999 Constitution as a gross betrayal of governance trust of the founding fathers. The director, who disclosed this in Lagos while unveiling

the vision of the centre, said the current political structure is not a positive one, it places personal, religious and ethnic interests above national interests and cohesion.” CSIC, however, noted that the clamour for state creation and a review of revenue sharing allocation formula could be traceable to cash crops and natural resources like cocoa, groundnuts and oil, thus without geographical restructuring, such clamour would be a recurring challenge in the country. According to him, the centre

would promote real unity in the country by using researchbased media engagements, legal advocacy as well as partnership with other Nigerians to ensure equal access to opportunities and mass re-orientation on true federalism, cohesion and a new political system.” With its headquarters in Abuja, the centre was conceived in 2017 by some concerned minds to draw the attention of government and the citizens to policies and practices that promote sectional, religious or ethnic division with a view to resolving them.

Knight Frank Crowns New CEO in Nigeria Knight Frank, the world’s largest independent residential and commercial property consultancy, has announced the investiture of a new Senior Partner/CEO, Frank Okosun for Knight Frank Nigeria. The ceremony will hold on November 28, 2019 at Eko Hotel and Suites in Lagos, will have in attendance, corporate enterprise leaders, industry magnates, institutional stakeholders and other global real estate market personalities. Frank Okosun replaces Chief Albert Orizu, who is retiring after 36 years of meritorious service. According to a statement by Knight Frank, the new CEO is a purpose-driven, a pathfinder per excellence and quite frankly embodies the core values of the Knight Frank brand. “Colleagues in the market place locally and internationally

unanimously describe him as innovative, inspirational, committed, enduring, respectful and collaborative. He takes over the leading estate firm at a significant epoch in the history of both the firm and the profession in Nigeria. He has served as a partner in the firm for about 15 years,” the statement said. Frank is a Fellow of the Nigerian Institution of Estate Surveyors and Valuers, (FNIVS); Fellow of the Royal Institution of Chartered Surveyors (FRICS); member of the International Real Estate Federation (FIABCI); member of the International Facility Management Association (IFMA); member of the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON); and an accredited member of the Royal Institution of Chartered Surveyors ACRETM

Civil and Commercial Mediator. He holds an MBA and has attended several programme and courses at Harvard Business School relating to Real Estate Management Finance, Design & Leadership. Beyond his dexterity in applying his expertise and market knowledge to broker commercial, industrial, retail and residential property consultancy, he enjoys his leisure time as he is a member of the Metropolitan Club, Ikoyi Club and the Port Harcourt Polo Club. He is also passionate about promoting education and assisting the less privileged. He enjoys a stellar reputation for prompt and personal response to client demands, Connecting people and property, perfectly. Knight Frank Nigeria is part of Knight Frank LLP - the

world’s largest independent residential and commercial property consultancy. Established in 1965, Knight Frank can best be described as the founding fathers of transformational and integrity-based real estate practice in Nigeria. Headquartered in Akuro Campbell Street, Lagos, Knight Frank has grown to be one of the largest firms of Estate Surveyors and Valuers in Nigeria and across Sub-Saharan Africa. The firm’s growth is attributed to its high-standards of professionalism, commercial acumen and integrity. Knight Frank is highly respected and trusted by the Nigerian Institution of Estate Surveyors and Valuers, individuals, private organisations and government institutions, for its commitment to sustained standards and consistent delivery of a best-in-class service to clients.

46

Ë&#x153; ͺͽË&#x153; ͺ͸͚Π˞ T H I S D AY

MONDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

C A F P L AY E R O F T H E Y E A R

Osimhen, Ndidi, Ighalo, Join Salah on â&#x20AC;&#x2DC;African Player of the Yearâ&#x20AC;&#x2122; Shortlist Three Nigerian players are among the 30-man shortlist for the 28th edition of annual football awards, which will take place on Tuesday on 7 January 2020, at Citadel Azure, Hurghada, Egypt. The Nigerians are Odion

Ighalo (Shanghai Shenhua), Victor Osimhen (Lille) and Wilfred Ndidi of Leicester City. The CAF awards celebrate African footballers and officials who have distinguished themselves during 2019.\

FCT Minister Pledges on Para-Power Lifting World Cup Hosting Olawale Ajimotokan in Abuja The FCT Minister, Malam Muhammad Musa Bello has pledged that the FCT Administration is committed towards the successful hosting of the Para Powerlifting World Cup billed to hold in Abuja in 2020. The Minister made the pledge when members of the Main Organising Committee (MOC) for the World Cup, led by its Chairman Dr Mahmood Halilu Ahmed, paid a courtesy visit to the FCTA. Over 1,000 physically challenged athletes from over 70 countries are expected to participate in the championship, which will also serve as the qualifiers for the Tokyo 2020 Paralympic Games. He expressed delight that Nigeria secured hosting rights to the event based on her track

The list of nominees is compiled by a panel of media and technical professionals. It features several award categories for menâ&#x20AC;&#x2122;s and womenâ&#x20AC;&#x2122;s football including: African Player of the Year, Coach of the Year, Youth Player of the Year, National Team of the Year, Goal of the Year, Africa Finest XI, Federation of the Year and several new award categories which will recognise exceptional contributions to African football and inspiring individuals. The Inter-clubs Player of

the Year Award has been reintroduced and will be dedicated to honouring key actors in CAFâ&#x20AC;&#x2122;s club competitions The shortlist: Achraf Hakimi (Morocco & Borussia Dortmund), AndrĂŠ Onana (Cameroon & Ajax), Baghdad Bounedjah (Algeria& AlSadd) , Carolus Andriamatsinoro (Madagascar & Al Adalah), Denis Onyango (Uganda & Mamelodi Sundowns), Eric Maxim Choupo-Moting (Cameroon & Paris Saint-Germain), Ferjani

Sassi(Tunisia & Zamalek), Hakim Ziyech (Morocco & Ajax), Idrissa Gueye (Senegal & Paris SaintGermain), Ismail Bennacer (Algeria & AC Milan), Jordan Ayew (Ghana & Crystal Palace), Kalidou Koulibaly (Senegal & Napoli), Kodjo Fo Doh Laba (Togo & Al Ain), Mahmoud Hassan â&#x20AC;&#x153;Trezeguetâ&#x20AC;? (Egypt & Aston Villa), Mbwana Samatta (Tanzania & Genk) , Mohamed Salah (Egypt & Liverpool), Moussa Marega (Mali & Porto), Naby Keita (Guinea & Liverpool) , Nicolas Pepe (CĂ´te dâ&#x20AC;&#x2122;Ivoire &

Arsenal) , Odion Ighalo (Nigeria & Shanghai Shenhua) , Percy Tau (South Africa & Club Brugge), Pierre-Emerick Aubameyang (Gabon & Arsenal) , Riyad Mahrez (Algeria & Manchester City) , Sadio Mane (Senegal & Liverpool), Taha Yassine Khenissi (Tunisia & Esperance) , Thomas Teye Partey (Ghana & AtlĂŠtico Madrid) , Victor Osimhen (Nigeria & Lille) , Wilfred Ndidi (Nigeria & Leicester City), Wilfried Zaha (CĂ´te dâ&#x20AC;&#x2122;Ivoire & Crystal Palace) ¡ Youcef Belaili (Algeria & Ahli Jeddah)

record in the hosting of previous competitions and was excited that the FCT was chosen to host the 2020 para-powerliftig Games. Bello said the FCTA will assist in the provision of logistics such as the transportation of athletes around the city among others. He also asked the MOC to work closely with the Department of Out-door Advertising and Signage (DOAS) of the FCTA the purposes of providing access and content for outdoor advertising. Bello assured that other relevant Secretariats, Departments and Agencies of the FCTA, wiil partner the committee to ensure a memorable and hitch-free event. The Minister said that Abuja is fast becoming the sports capital of Nigeria and indeed Africa, adding that the hosting of the competition fits right into this growing profile.

NPFL: Rangers Fire Coach Benedict Ugwu 51st Asoju Oba Okoya-Thomas Cup Serves off Today Strings of uninspiring displays Cup, but â&#x20AC;&#x2DC;The Flying Antelopesâ&#x20AC;&#x2122; Victor Osimhen

and home loses have caused the management of Enugu Rangers Football Club to sack Coach Benedict Ugwu after they lost again today 2-0 to promoted Akwa Starlets in continuation of the NPFL. In a terse statement by Rangers, a new set of coaches will be named within today. â&#x20AC;&#x153;Rangers coaching crew handed indefinite suspension by the management of the team while a new crew to be named in the next 48 hours,â&#x20AC;? the club announced on their official Twitter handle. Ugwu aka â&#x20AC;&#x2DC;Surugedeâ&#x20AC;&#x2122;, who replaced Gbenga Ogunbote as Rangers coach in the off-season, qualified Rangers to the group stage of the CAF Confederation

have struggled to impress in the NPFL this season. They were 14th on the NPFL table before this weekendâ&#x20AC;&#x2122;s matches with four points from as many matches after they won one, lost two and drew one of their matches. The club begin the group phase of the Confederation Cup next Sunday when they host big-spending Egyptian club Pyramids FC. Meanwhile, Match-day 5 produced three away wins with the most remarkable the win for Starlets in Enugu. Plateau United stay on top having won on the road, while Lobi Stars remain in No 2 and Enyimba replace Wikki Tourists in third place.

School of Commerce, Zappa Mixed Rate Zenith/Delta Principalsâ&#x20AC;&#x2122; Cup High As the final of the 2019 Principalsâ&#x20AC;&#x2122; Cup Football competition organized for secondary schools in Delta State gets near, the coaches of the two finalists have rated the standard of this edition high just as both sides anticipate an explosive final. About 850 private and public secondary schools began the journey on September 30 and only four teams are standing.

The two teams that lost in the semis- Destiny International School, Ughelli and Okoti-Eboh Grammar School, Sapele - will be competing for the Third Place crown. The ultimate one is the final between Zappa Mixed Secondary School and School of Commerce. Both matches are billed to take place on Thursday November 28 at the Stephen Keshi Stadium in Asaba.

The battle for who wins the title for the fifth consecutive year begins for Bose Odusanya in the womenâ&#x20AC;&#x2122;s singles event of the 51st Asoju Oba Molade Okoya-Thomas Table Tennis Cup which serves off today at the indoor hall of the Teslim Balogun Stadium in Surulere Lagos. Also menâ&#x20AC;&#x2122;s singles defending champion, David Fayele who defied odds in 2018 to beat number one seed, Olajide Omotayo to drive home a brand new saloon car will

Odion Ighalo

be also be aiming to shield other players from cuddling the trophy this year. Already, Odusanya and Fayele have expressed their intention to hold on to the title but the players are aware of the task ahead when they admitted during the press conference to herald the commencement of this yearâ&#x20AC;&#x2122;s edition that they are ready to face the challenges. â&#x20AC;&#x153;I know it will not be easy this year considering the quality of players in Lagos but I am not also ready to

Wilfred Ndidi

surrender the title this year and that is why I have been training in the last two months in order to be in top shape. There is no doubt that the tournament gets tougher every year but nothing can stop me from retaining the title again having been holding on to it since 2015,â&#x20AC;? a confident Odusanya said. Like Odusanya, Fayele spoke with a lot of optimism that he cannot be dethroned. â&#x20AC;&#x153;I know I will retain the title because I am working hard in training

and I donâ&#x20AC;&#x2122;t see anybody stopping me. My aim is to set record in the tournament by winning as many times as possible and being a champion is not always easy but I am ready to go through this uneasy ways to make sure I emerge as champion again this year,â&#x20AC;? Fayele boasted. Players are expected to finalise their registration for the five-day tournament with matches expected to commence as well in the cadet, junior and senior categories.

Sumonu, Majekodunmi Win at Southern Sun Ikoyi 8th Annual Golf Tournament Adewemimo Sumonu emerged winner in the menâ&#x20AC;&#x2122;s category of the Southern Sun Ikoyi Annual Golf Tournament which held at Lakowe Lakes and Golf Resorts in Lagos. Funke Majekodunmi came tops in the ladiesâ&#x20AC;&#x2122; category. The stableford styled tournament which is the 8th edition concludes a series of weeklong activities commemorating Southern Sun Ikoyiâ&#x20AC;&#x2122;s 10th anniversary celebrations ensured that spectators were left thrilled with excitement as the golfers displayed spectacular show of competitiveness and sportsmanship. About 70 golfers took part in the tournament. During the prize- giving

event, winners were also announced in various competitive categories during the course of the tournament which included Nearest to the Pin and the Longest Drive hole for both male and female categories with various premium and mouthwatering prizes courtesy of the premium sponsors and Southern Sun Ikoyi. Winners also enjoy the best culinary experience at the Hotel. Speaking at the Event, General Manager, Southern Sun Ikoyi, Mark Loxley, commended the golfers, sponsors, guests and the media for taking out time to participate at this yearâ&#x20AC;&#x2122;s edition of the tournament despite the long drive and their busy

schedules whilst reiterating the hotelâ&#x20AC;&#x2122;s continued commitment to promoting golf as a sporting activity within Lagosâ&#x20AC;&#x2122;s thriving business community. â&#x20AC;&#x153;Today was a fun outing compleĂ&#x;mented by the fine weather and excellent display of sportsmanship displayed by the participating athletes of this yearâ&#x20AC;&#x2122;s edition of the tournament. â&#x20AC;&#x153;This event is not commercial, as it is in line with our annual Corporate Social Responsibility philosophy as an institution in supporting the community within which we operate, through giving back generously to the society that has supported our business and helped us grow throughout the course

of the year as proceeds from the tournament would be given to the Arrows of God Orphanage, which has been the Hotelâ&#x20AC;&#x2122;s adopted charity since it began operations in the country,â&#x20AC;? Loxley concluded. As the event came to a close, guests and participants were gifted with various specials including Weekend stays and complementary dining opportunities at Southern Sun Ikoyi, Cases of premium wines, prepaid Mifiâ&#x20AC;&#x2122;s, business and economy class tickets to various international travel destinations amongst other exciting giveaways courtesy of the various tournamentâ&#x20AC;&#x2122;s corporate sponsors.

47

Ë&#x153; ͺͽË&#x153; ͺ͸͚Π˞ T H I S D AY

MONDAYSPORTS R E M AT C H W I T H A N DY R U I Z

Anthony Joshua Lands in Saudi Arabia, Stays Positive Anthony Joshua landed safely in Saudi Arabia ahead of his rematch with Andy Ruiz Jr on December 7 and the Briton is promising to produce a performance to remember

when the pair enter the ring. Joshua, who was handed his first professional defeat by Ruiz Jr earlier this year at Madison Square Garden in New York, is fighting in a bid to reclaim the

Polo: Blue Jacket Award Highlights Georgian Cup Centenary Celebration The biggest off the pitch highlight of the celebration of the centenary of the oldest polo cup in the world, Georgian Cup, was the Legends Award Gala that paraded impressive awardees who were unanimously thrilled by the honours from both the Kaduna Polo Club and title sponsors, First Bank Plc. They were recognized for their immense contribution to the myth and the popularity of the Georgian Cup. Those decorated with the Blue Jackets on the night of legends include Nigeriaâ&#x20AC;&#x2122;s top rated professional, Bello Buba who has won the Georgian Cup a record 18 times, Bala Shehu Shagari, Amani Idi, Mohammad Babangida, Kashim Bukar, Adamu Yaro and Dawule Baba. Others include, Senator Hadi Sirika, Ibrahim Mohammed, Jamilu Mohammed, Babangida Hassan and the President of Kaduna Polo Club, Suleman Abubakar who has won the cup four times with three

NPFL RESULTS (MATCH-DAY 5) DT Force Kâ&#x20AC;&#x2122; Pillars Heartland IfeanyiUbah Rangers Wâ&#x20AC;&#x2122;Wolves Abia Warriors Enyimba Katsina Utd Akwa Utd EPL Sheffield Itâ&#x20AC;&#x2122;s

1-3 0-0 1-0 0-0 0-2 0-1 1-0 2-0 2-0 1-1

Plateau Utd Wikki Jigawa Stars Lobi Stars Akwa Starlets Rivers Utd MFM Adamawa Utd Sunshine Nasarawa Utd

3-3 Man Utd

different teams. The Blue Jacket recipients were particularly elated about the award, urging Kaduna Polo Club to make the award ceremony an annual event as an encouragement that would propel upcoming and future generations to aspire to the top in their polo careers. In recognition of the centenary anniversary of the mythical Georgian Cup, Kaduna polo boss, Abubakar said: â&#x20AC;&#x153;I am proud and humbled to celebrate this wonderful landmark which would not have been possible without the efforts of our esteem sponsors like First Bank, and others, the polo fraternity and the public that supports us. â&#x20AC;&#x153;Through the last 100 years, what has remained consistent is the high standard of polo that we have witnessed being played at the club and the commitment of everybody involved. You have all exceeded expectations and have played a crucial role in our success. â&#x20AC;&#x153;I look forward to many more exciting years of polo and on building the mutual trust and friendship among the polo fraternity that we share,â&#x20AC;? Abubakar enthused in his closing remarks. Excitement started building for the awards a year ago when the countdown to the centenary of the oldest polo cup in the world was announced by Kaduna Polo Club.

AFN Postpones Annual General Congress The Athletics Federation of Nigeria (AFN) has postponed its annual general congress earlier scheduled to hold on Thursday December 4, 2019 in Awka,Anambra State. In a letter dated Friday November 22,2019 and signed by its Secretary General, Prince Adisa Adeniyi Beyioku and addressed to all states athletics association, the AFN said it was constrained by circumstances beyond its control to postpone the congress. â&#x20AC;&#x2DC;â&#x20AC;&#x2122;On behalf of the board of the Athletics Federation of Nigeria, I am directed to inform you of the postponement of the annual general congress earlier scheduled for 4th December, 2019 in Awka,Anambra State due to circmstances beyond our control,â&#x20AC;? read the letter to the states titled :ReInvitation To Attend Annual General Congress of Athletics Federation of Nigeria, AFN. The AFN further informed the stakeholders that a new date will be communicated

to the state associations and regretted the inconveniences the postponment may have caused. It was however gathered that the postponement may have been informed by the need to adhere to the letters of the constitution of the AFN and international best practice. A chairman of one of the state athletics associations in the South South region of Nigeria who preferred not to be named said at the weekend that many of the state athletics associations were shocked when they received the message for the December 4,2019 congress. â&#x20AC;&#x153;We knew for an annual general congress to be called,the AFN constitution stipulates a 60-day notice and the notice sent to us was dated November 5 which makes it just 29 days to the December 4 date,â&#x20AC;? said the member who expressed his gratitude to the AFN for correcting its own mistake.

WBA, IBF, WBO and IBO belts and set up a unification fight in 2020 with WBC champion Deontay Wilder. The 30-year-old was all smiles on arrival with his entourage as he was met by some fans and attention now turns to avenging defeat with a performance that boxing fans will speak of for years to come. The Heavyweight division belts on the line and Joshuaâ&#x20AC;&#x2122;s credibility at stake, there is a lot of pressure on the Watford-born

fighter ahead of the rematch. But Joshua appears relaxed despite the pressure and was in high spirits as he arrived at King Khalid Airport in Riyadh. â&#x20AC;&#x2DC;Itâ&#x20AC;&#x2122;s going to be an incredible night and Iâ&#x20AC;&#x2122;m thrilled so many of my fans are going to be there, particularly from the UK,â&#x20AC;&#x2122; Joshua said. â&#x20AC;&#x2DC;Itâ&#x20AC;&#x2122;ll definitely be a night people will tell their grandchildren they were at, one of those iconic evenings of boxing. Everyone from Saudi has been brilliant to work with.â&#x20AC;&#x2122;

Now having touched down in the country, Joshua will setup his pre-fight training camp in a bid to acclimatise in the build-up to the fight. The â&#x20AC;&#x2DC;Clash On The Dunesâ&#x20AC;&#x2122;, as the fight is being dubbed, is the first World Heavyweight Boxing title fight to be held in the Middle East. Joshua and defending champion Ruiz Jr will fight at the custom-built 15,000 seat Diriyah Arena in the heart of a UNESCO World Heritage site. Victory is essential for Joshua

if he is to get his career back on track with 2020 set to be another box-office year in the heavyweight division. East contest with interest as the WBC champion is keen to agree a unification bout with the victor. The Bronze Bomber defeated Luis Ortiz in their rematch on Saturday night with a brutal knockout and so with confidence flowing, he is keen to establish himself as the undisputed heavyweight champion of the world.

Anthony Joshua on arrival in Riyald, Saudi Arabia â&#x20AC;Śyesterday

Playersâ&#x20AC;&#x2122; Union Calls for More Academies Affiliated to European Clubs The National Association of Nigeria Footballers (NANPF) has called for the establishment of more soccer academies affiliated to European clubsides in the country. In a press release by the Secretary General Austine Popo, NANPF noted that such academies would help to grow youths football in Nigeria. President of NANPF, Tijani Babangida while taking a cursory look at the Real Madrid Football Academy in Port-Harcourt praised the Rivers State Governor, Nyesom Wike, for such a laudable idea that would take Riversâ&#x20AC;&#x2122; youths

out of the street. â&#x20AC;&#x153;We want other state governors to emulate Nyesom Wike in establishing football academies attached to European clubs. This is the best way to produce worldâ&#x20AC;&#x2122;s best footballers. â&#x20AC;&#x153;Rivers state will turn out good players in the nearest future that wIll compete with the best in Europe and the rest of the world. In fact, when this happens Wike is the winnerâ&#x20AC;?, he said. Meanwhile, NANPF has commended Wike for putting a round peg in a round hole in the appointment of former

Nigeria Football Federation (NFF) Technical Committee Chairman , Christopher Green to manage the Real Madrid Football Academy in Port-Harcourt. The erstwhile Rivers commissioner for sports and NFF board member was appointed this month to handle the affairs of the academy affiliated to its parents club in Spain. Babangida explained that the best way to sustain such a project was what the governor did by appointing such a high level football official like Green and placing the academy under his direct supervision.

â&#x20AC;&#x153;What is good is good, putting the academy under the stateâ&#x20AC;&#x2122;s ministry of sports would have spelt doom for the project, Babangida emphasised. The former Super Eaglesâ&#x20AC;&#x2122; winger also praised Wike for providing high class facilities, which he said are second to non in the country and would ensure high performance of the youths. â&#x20AC;&#x153;The facilities are the best you can see anywhere in the country. We are proud of the governor and we want other governors to emulate himâ&#x20AC;?, the playersâ&#x20AC;&#x2122; union president enthused.

FCWAMCO Games Season 14 Ends in Grand Style FrieslandCampina WAMCO Nigeria Plc, maker of premium brands â&#x20AC;&#x201C; Peak and Three Crowns milk over the weekend concluded its annual tournament, FCWAMCO Games at the Agege Stadium in Lagos. The ceremony attracted an impressive spectatorship with two Nigeria ex-internationals, Victor Agali and Ifeanyi Udeze also in attendance as special guests. Competing teams comprised of Purpose Driven, Commercially Obsessed, Owners Mindset and Win Win. In the final match of the football event, Win Win defeated Purpose Driven 4-2

L-R: Former Nigerian International, Victor Agali, Sales Director, Adewale Arikawe, Specialised Nutrition Director, Dolapo Otegbayi, Managing Director, Ben Langat, former Nigerian International , Ifeanyi Udeze, and Treasury Manager, Kenneth Omeni during the final match on Saturday

on penalties after both sides played out a goalless draw at full time. The 2019 FCWAMCO Games was the 14th in the series

and in an interview with the media after the programme, the Managing Director of FrieslandCampina WAMCO Nigeria Plc, Mr Ben Langat,

who captained the MDâ&#x20AC;&#x2122;s team to defeat another management team 3-2 in a novelty match, said the objectives of the games has been fully achieved. â&#x20AC;&#x153;Every year we hold FCWAMCO Games for all our staff to participate and to create a healthy working environment because Itâ&#x20AC;&#x2122;s not about work alone but keeping fit. Hence the desire to see the staff involved in excitement, fun and motivation is very key. â&#x20AC;&#x153;Apart from keeping fit, you can see that many of the staff are here within their families and it was a privilege that many of them had photo opportunity with former Nigerian football stars, Udeze and Agali.

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢ T H I S D AY

1

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢ T H I S D AY

3

2

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢T H I S D AY

4

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢T H I S D AY

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢ T H I S D AY

5

6

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢T H I S D AY

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢ T H I S D AY

7

8

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢T H I S D AY

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢ T H I S D AY

9

10

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢T H I S D AY

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢ T H I S D AY

11

12

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢T H I S D AY

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢ T H I S D AY

13

14

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢T H I S D AY

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢ T H I S D AY

15

16

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢T H I S D AY

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢ T H I S D AY

17

18

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢T H I S D AY

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢ T H I S D AY

19

20

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢T H I S D AY

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢ T H I S D AY

21

22

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢T H I S D AY

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢ T H I S D AY

23

24

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢T H I S D AY

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢ T H I S D AY

25

26

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢T H I S D AY

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢ T H I S D AY

27

28

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢T H I S D AY

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢ T H I S D AY

29

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢ T H I S D AY

31

MONDAY NOVEMBER 25, 2019 ˾ T H I S D AY

30

NEWSEXTRA

Miyetti Allah Partners Security Agencies to Expose Criminals in Nasarawa The Chairman of the Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), Nasarawa State chapter, Mohammed Hussaini,

has said the association is partnering security agencies to expose criminals in the state. The chairman stated this yesterday in an interview with

Ayade Identifies Path to Africa’s Growth, Greatness Cross River State Governor, Prof. Ben Ayade, has urged African countries to undertake agro-industrial revolution if it must shake off the ugly tag of under-development and backwardness. Ayade was speaking as the chief host of the 2019 Africa Industrialisation Day (AID) organised by the United Nations Industrial Development Organisation (UNIDO) and the Federal Ministry of Industry, Trade and Investment, in Calabar. He said while the need to industrialise Africa has become pertinent and urgent, the continent must make sure that the right steps are taken if the objective must be achieved. According to him, “agroindustrial revolution is the first step to take. It is indeed, only agro-industrial revolution that allows you to industrialize, revolutionize your economy and yet carry the people along, because the essence of industrialisation is to create social harmony. “The problem with Africa is the extemporaneous excitement of attitude to catch up with the Western world. In the process we miss the strategic steps that are required towards growth.” He said it was against that background that his administration embarked on agro-industrial revolution through value-chain addition

to agricultural processes. “Today we have the garment factory employing over 3000 people with women constituting 85 per cent of that workforce. We have a philosophy of going from farm to fabric. So our cotton farm in Yala Local Government Area in partnership with Arewa Textile is helping to create the raw materials that we require in other to have our own knitting and our own fabrics that can turn into garments.” “That is agro-industrial revolution. “We have the Cross River State noodles factory, which depends mostly on rice, because the use of wheat has been found to have high level of gluten. Today in Cross River State, we have a feed mill. “Today, Cross River State has a factory that will be producing 24000 frozen chicken per day. As such we need a huge quantity of maize and soya beans for feed production. This will create an agricultural value chain that will create an enabling environment for you to massively cultivate new farm lands to support the cultivation of maize and soya beans, in the process creating jobs and linking people to farm and linking the farms and produce to agriculture and linking them ultimately to the industries. That is the connectivity and that is why agro-industrial revolution is always the first.

2023 Election May Be Catastrophic, Says FJP Chair Onyebuchi Ezigbo in Abuja National Chairman of the Freedom and Justice Party (FJP), Mr. Breakforth Onwubuya, has said unless genuine steps were taken to address the serious lapses witnessed in the last general elections and the just concluded governorship elections in Bayelsa and Kogi states, subsequent elections may be bloodier. Onwubuya, who spoke in an interview with THISDAY at the weekend, lamented that massive electoral fraud, thuggery, violence and voter apathy were fast becoming the order of the day in the last four years. He pointed to the incident in which a women leader of the Peoples Democratic Party (PDP) was brutally murdered and burnt during the just concluded governorship election in Kogi State, saying if nothing drastic was done to reorder things the forthcoming election in Edo State may even be bloodier.

“Both PDP and All Progressives Congress (APC) are presently involved in rigging elections. PDP started this evil plan of rigging elections in the country. APC is now trying to outsmart the PDP in rigging, having suffered many years as an opposition party. Most of the top members of APC today were former members of PDP. So they know the arts of the game. Both parties hire thugs and pay them to disrupt elections,” he alleged. He also accused the two big parties of being behind the recent wave of vote-buying as other parties did not have the money to engage in such practice. “As a party, we are saying that the way and manner elections are being conducted in Nigeria will not give room for credible leadership in our country. It is usually the highest bidder. The one who has more capacity for violence, thuggery using the military and police to perpetrate electoral fraud now wins elections.

the News Agency of Nigeria (NAN) in Lafia. According to him, the partnership is part of the collective efforts to ensure the state is rid of criminals, adding that security is everybody’s business and not that of the security agencies alone. “The efforts have yielded a lot of results, leading to the arrest of criminals across the

state. “The kidnappers that killed a man in Lafia recently, after collecting ransom from his family, were arrested by the Fulani vigilantes while trying to dispose the corpse in a bush. “The two arrested kidnappers have been handed them over to the police,” the chairman said. Hussaini also said that the association had set up

committees to expose criminal elements among the Fulanis, adding that the association would pursue the assignment to the logical conclusion. “Let me tell you, so many bad eggs among our people, the Fulanis, were exposed and apprehended.” He explained that the association was determined to redeem the image of its

members and strengthen relationship with other groups for the overall development of the stat, in particular and the country in general. The chairman called on the members of the association to continue to be law abiding and report any act of provocation on them to the appropriate authorities for prompt action.

WOMEN AFFAIR…

L-R: Wife of the Speaker, Lagos State House of Assembly, Mrs. Falilat Obasa; First Lady of Lagos State, Dr. Ibijoke Sanwo-Olu; wife of the Deputy Governor, Mrs. Oluremi Hamzat; and Prof. Ibiyemi Bello, during the cutting of the cake at thanksgiving service for the 2019 National Women’s Conference at the Church of Christ the Light, Alausa, Ikeja…yesterday

Butchers to Shut down Meat Market in Abuja Onyebuchi Ezigbo in Abuja Markets in Abuja and its environs may witness severe scarcity of meat as members of association of butchers in the Federal Capital Territory (FCT) will observe a one-day ‘no work’ to protest against the influx of unhealthy meat products from neighbouring states. THISDAY gathered yesterday that the butchers in the city plan to hold a meeting today to deliberate on how to

deal with the bad eggs among them who have been involved in the sale of contaminated meat to unsuspecting buyers. One of the butchers, who spoke to THISDAY at the weekend at the Abattoir in Kubwa, said they want use the opportunity to identity all genuine butchers, as well as sensitise them on the need to always maintain food safety standards as prescribed by the government. According to the source, some persons are in the

practice of bringing meat from slaughtered donkey, horse and even animals with diseases to sell to consumers in Abuja. He said the butchers have resolved that no animal would be slaughtered on Monday in any of its facilities in Abuja so that they can, in conjunction with relevant enforcement units at Ministry of Health, identify the source of the meat that floods the FCT markets. It was also learnt that as part of measures to ensure healthy practices at

the abattoirs, the government has directed that health officials must certify every animal fit for consumption before being slaughtered. When contacted for his comment, the Assistant Director at the Abuja office of the Vetenary Medicine and Allied Products, the agency regulating operations of abattoirs, Mr. Bashir, said the office is not aware of the plan to withdraw sale of meat products by the butchers.

Niger Gov Harps on Increase in IGR Laleye Dipo in Minna Niger State Governor, Alhaji Abubakar Sani Bello, has harped on the need for the state to lay more emphasis on how to generate more funds internally “because the future looks bleak for the global economy.” Bello made the remarks in an address at the opening of a 3 day retreat on ‘Administrative Relationship Strategic Communication and Management of Public Finance for Economic Development’ for the newly appointed members of the State Executive Council. A statement by the

governor’s Chief Press Secretary, Mary Noel Berje, quoted Bello as saying at the retreat held at the 5th Chukker Polo Club in Kaduna that the state must work towards moving away from overreliance on federal government allocation and devise other means of generating fund to strengthen the state economy “The future looks very bleak financially, and things will be tougher,” Berje quoted the governor as saying. He added: “We need to block leakages, and we must do some structural adjustments to survive the challenges of the future, and the only solution is

to move away from depending on federal allocations and raise our internally generated revenue so that federal allocation becomes just as an augmentation. Our main revenue should come from what we generate internally and what we get as FAAC should be an augmentation “We must change the narratives because we must survive. We must move our system from basically a publicly-reliance system to a private sector system.” The governor further charged the participants on financial prudence, urging then to avoid memos that “are not

relevant,” and by all means complete ongoing projects before embarking on new ones which must affect the lives of the people. Bello described the retreat as timely and informative, urging the participants to ensure they block all leakages in the system so as to improve the finances of the state. In his remarks, the Chief of Staff, Government House, Alhaji Balarebe Ibrahim, commended the governor for the initiative which he said has given the participants the opportunity to brainstorm and face the challenges of service delivery to the people

32

MONDAY NOVEMBER 25, 2019 â&#x20AC;¢T H I S D AY

Monday November 25, 2019

TR

UT H

& RE A SO

N

Price: N250

MISSILE

Matawalle to Yari

“I decided to take this action against the former governor because I observed that whenever he visited the state, there would be attacks and killing of innocent people immediately he left” – Zamfara State Governor, Bello Matawalle, threatening to arrest former Governor Abdul’aziz Yari, if the killings in the state continue.

ALEXOTTI OUTSIDE THE BOX

alex.otti@thisdaylive.com

Between the Oppressor and the Oppressee “The most potent weapon of the oppressor is the mind of the oppressed.” Steven Biko (1946-1977)

S

teven Biko was a revolutionary whose anti-apartheid struggles helped to abolish the despicable regime. As a student, he was so brilliant that on some occasions, he was promoted over and above his peers. He actually jumped some classes as his teachers realised that he was a young man endowed with very high intelligence quotient. In 1966, at the age of 20, he enrolled at the University Of Natal as a medical student. He was then the leader of the National Union of South African Students (NUSAS) which had both black and white students as members. He wasn’t very comfortable with the paternalistic approach of white liberal members of NUSAS, not because he couldn’t stand whites. As a matter of fact, he had many white friends. His problem was that the presence of white liberals in the union dampened the fight against white domination. He and other like-minds, therefore started an all black students association, called the South African Students’ Organisation (SASO) in 1968. The movement campaigned for an end to apartheid and the enthronement of democracy. Biko fought for racial equality between the black and whites and popularised the slogan “Black is Beautiful”. The year 1972, saw the formation of the Black People’s Convention (BPC), to promote black consciousness amongst South Africans. This union became so effective that the minority rulers of South Africa took notice and started a counter offensive. On many occasions, Steve Biko was harassed, intimidated and arrested on trumped up charges of subversion and attempted mutiny . In 1977, he defied the restraining order placed on him by the authorities and travelled to Cape Town from his detention camp in King Williams town. He was promptly arrested as he made his way back on August 18, 1977 by the South Africa security forces who had earlier laid ambush for him. He was shackled hands and legs and mercilessly beaten by the police. He sustained head injuries, but was denied access to immediate medical attention. After a massive outcry and pressure on the apartheid regime, the police decided to take him to a prison hospital. On September 11, 1977, he was thrown into the open back of a Land Rover truck, naked and shackled and driven about 1,190 km (740miles) to a hospital in Pretoria. A day later, on September 12, 1977, he died as a result of the injuries sustained in the hands of South African security forces. Contrary to the expectation of his white oppressors, he became even more famous in death. Many people who even though were concerned about the apartheid regime, knew very little about Steven Biko until his death; an event that led to serious uproar around the world, with many calling for an end to the South African apartheid regime. His funeral was like a carnival, attracting over twenty thousand people from across the world. Amongst many of his popular quotes is that the oppressor needs to manipulate the mind of the oppressed to succeed. How does the Oppressor do this? Another philosopher, John Henrik Clark (1915-1998) provides an answer. According to him, “to hold a people in oppression you have to convince them first that they are supposed to be oppressed.” Dr. James Kayode Fayemi is a good man. He is the governor of Ekiti State as well as the current Chairman of Nigerian Governors Forum. In the tradition of full disclosure of this column, let me state that Dr. Fayemi is my very good friend and we relate like brothers. It is a relationship that has been on for close to 25 years. In fact, he used to

Fayemi be one of us in the struggle for the emancipation of the masses until he committed “class suicide” and left the struggle for a few of us to continue, or better still, he decided to fight from within. He ran an election in 2010 against an incumbent Ayo Fayose and defeated him. In 2014, after his first term, Fayose showed up again and using the “stomach infrastructure” strategy and what is now known as “federal might” Fayose prevailed against him and completed his second term last year. Fayose’s attempt to install a successor hit a brick wall as Fayemi renewed his bid for his second term and defeated the PDP candidate in a very controversial election. The name calling, the bad blood, the street fights, in addition to Fayose’s drama, made that election stand out in the whole country. Some Nigerians were, however, stunned when photographs were released last week showing Fayemi attending the wedding of Fayose’s son. To some, that was a great show of magnanimity by Gov. Fayemi. In normal climes, that is how it should be. But the reality is that the clime here is anything but normal. While we commend Fayemi for his large-heartedness, we hasten to add that in spite of the political differences, both of them belong to the same class and any disagreements between them can always be resolved amicably. More on that later. A few weeks ago, I granted an interview in the Punch Newspapers where I had insisted that there is no fundamental difference between members of the ruling class in Nigeria. I had insisted that there were two classes of people in Nigeria, namely, the rich and the poor. I went further to argue that the promotion of artificial differences was to serve the interest of the ruling class. These differences are promoted in the name of religion, tribe, culture and sometimes, gender. Just like someone once remarked, every day, people from different geography, religion, ethnic group and culture, sit down and decide what is in their interest and also decide how to further those interests by deploying the potent weapon to realise them which is the mind of the oppressed. Unfortunately, many people, particularly the oppressed fail to understand that the only difference between the oppressor and the oppressed is economic. This was aptly captured in Karl Marx’s great works in ‘Das Kapital’. Beyond the economic factor, every other thing that is sometimes described as fault lines are man-made creations to further the interest of the oppressors. The oppressor would stoke them to achieve his purpose. When it is in the interest of the oppressor to appeal to ethnic sentiments to win votes, he

would gladly do so. If it is religion that he feels will work, the oppressor would remember that some people share the same faith with him while others do not. He would stoke religious differences and remind faithfuls that this was their turn while encouraging them to despise the infidels and unbelievers. If it is gender that would work, the oppressor would not hesitate to appeal to that sentiment. This is used more often by men, but in some instances by women. The interesting thing here is that when men appeal to this sentiment, more women tend to fall for it, even when there are women in the race. It is then you will begin to hear women castigate their fellow women calling them all sorts of names including arrogant, disrespectful, selfish, sloths etc. Many would recall that some women have made efforts to present themselves for elections in areas dominated by female voters but come out with very woeful results, compared with their male counterparts. Why is it that the Sarah Jibrils of this world hardly won elections, even in their wards? The Oppressors also understand how to manipulate the oppressed using the instrumentality of money. Many times, it is actually the money of the oppressed, commandeered either by force or legitimised by laws made by the oppressors that is used by the latter to hold the oppressed under firm control. Some of the legitimised stealing would include the current practice of huge pension and severance packages for the executive and legislators who finish their tenor of 4 or 8 years. It is only in Nigeria that someone serves for 4 or 8 years and gets to benefit from ridiculously high severance packages and pensions while those who retire after 35 years of service get paltry sums of money as pensions and the sad story is that most of them receive these packages several months and years in arrears. In some cases, the beneficiaries of these packages get recycled either into the legislator from the executive or vice versa and they begin to earn jumbo salaries again while still enjoying pensions as demonstrated recently in the country. How is this ill-gotten wealth deployed to hold down the oppressed? During election seasons, they are deployed to thugs, bribe security agencies, buy the electoral body and most recently, buy votes. In the last election this year, some votes were bought with as low as N1,000 a piece. The oppressed are excited to cast their votes for the candidates that pay them such a paltry sum. Little do they think that this means that the electorate

has sold his right for N250 a year and about N20 per month. In buying votes, the oppressors don’t want to know if you are male or female, if you are Muslim or Christian, whether you are Yoruba, Igbo or Hausa or whether you are from the North or from the South. When the price of poor leadership is going to be paid, it will know no creed, religion or gender. It is mostly the poor that would pay the highest price. It is only when the action is perpetrated by the oppressed that oppressors eventually end up paying some price. That is the case with the present menace of insecurity that has assumed alarming dimension in the country. When bandits strike, when kidnappers are on the prowl, when armed robbers are let loose, when militants get unleashed on the society; their usual targets are not the oppressed. Their targets are the oppressors. Unfortunately, Oppressors all over the world know this, but those in our country either do not know it or pretend not to know. That is why they operate as if it does not matter that close to 50% of our people live below the poverty line. That is why they do not bother that our educational system is collapsing. That is why they are unconcerned that the healthcare delivery system is in shambles. That is why with the alarming level of unemployment they sleep easy. Elsewhere, out of self-interest, the oppressors ensure that the oppressed enjoy a certain level of comfort to prevent them from turning against their oppressors. The question that the oppressed need to answer is this; how come while the oppressors are united in pursing their interests and even wine and dine together when the need arises, the oppressed are on each other’s neck, pursing primordial and disparate interests? I wish some people can wisen up. Nevertheless, the message that needs to go out to all and sundry is that history is replete with instances where the oppressed have turned on their oppressors with devastating consequences. One very clear example is the French Revolution, which took place 200 years ago. When the aristocrats of France were busy enjoying themselves and not caring a hoot about the plight of the commoners, a revolution was enacted that abolished monarchy and aristocracy in France till date. The Bolshevik revolution in Russia came from failed and exploitative leadership, which led to the emergence of Communism. The world is still reeling from the consequences of these developments. A word is enough for the wise!

To Doris Akpovwa as a Fellow of NAPE On Thursday, November 21, 2019, Mrs. Doris Akpovwa, née Lawson, was one of the six distinguished petroleum experts admitted to the fellowship of the Nigerian Association of Petroleum Explorationists (NAPE). In this male-dominated body, Doris was the only lady so honoured this year. She is a geophysicist of over 30 years standing. She started her career with Ashland Oil, now Addax in 1989 and left 5 years after to join Statoil where she spent 20 years getting to Senior management levels before quitting to start her own business. Doris and I met at the University when she joined my class some 35 years ago at the age of 15. She was easily the youngest in our set and some of us thought she was missing her way. Shortly after, she showed great resilience and intellect, graduating four years after with a degree in geology. A few years later, we were to become classmates again at the MBA class in the University of Lagos where she also excelled and passed in flying colours. She was not

done as she subsequently took time off work to travel to the prestigious Imperial College London and a year later she returned with an MSC in Geosciences. In 2008, Doris secured a British Chevening Fellowship and that saw her proceeding to the University of Reading where she studied Energy Economics. As if all those were not enough, she enrolled and qualified as a Chartered Tax Practitioner. This amazing and brilliant amazon is married to the award-winning publisher Dan Akpovwa and the marriage is blessed with three wonderful children. One must admire her self-effacing and unobtrusive carriage. In spite of her achievements, she has remained a mother, a wife, and most importantly, a human being. She loves working and mentoring children. She also publishes a children’s magazine called “Teeky” and gets involved in a lot of charity work. This column celebrates the amazing Doris Tamunotonye Akpovwa on her achievements and wishes her all the best in her busy and fulfilling life.

Printed and Published in Lagos by THISDAY Newspapers Limited. Lagos: 35 Creek Road, Apapa, Lagos. Abuja: Plot 1, Sector Centre B, Jabi Business District, Solomon Lar Way, Jabi North East, Abuja . All Correspondence to POBox 54749, Ikoyi, Lagos. EMAIL: editor@thisdaylive.com, info@thisdaylive.com. TELEPHONE Lagos: 0802 2924721-2, 08022924485. Abuja: Tel: 08155555292, 08155555929 24/7 ADVERTISING HOT LINES: 0811 181 3085 0811 181 3086, 0811 181 3087, 0811 181 3088, 0811 181 3089, 0811 181 3090. ENQUIRIES & BOOKING: adsbooking@thisdaylive.com