WEDNESDAY 27TH NOVEMBER 2018

Malami Tells IOCs to Pay $62.1bn PSC Arrears Iyobosa Uwugiaren in Abuja The Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami SAN, has asked international oil companies (IOCs) to settle their unpaid arrears of approximately $62.1

billion to Nigeria. The minister, in a statement issued yesterday in Abuja by his media aide, Dr. Umar Gwandu, said with the signing of the Deep Offshore and Inland Basin Production Sharing Contracts Act CAP D3 Law of the Federation of

Nigeria 2004 (as amended) in 2019 for oil exploration in deep offshore and inland basin, the federal government was to get more shares of the oil revenue, which the international companies did not pay. He put the estimated arrears

as at 2018 at $62.1 billion. Speaking on the media reports on the recovery fee, the minister said the matter was not about percentage of the commission to be given to the recovery agency, but of patriotic desire for the country to recover the revenue

it deserved. Noting that the five per cent commission was a reduction from what it used to be during the past administration, the minister said the five per cent proposed as success contingent fees was an unprecedented reduction from what it used

to be. “The five per cent as a recovery fee is a product of innovation introduced by the federal government upon the assumption of office of the President Muhammadu Continued on page 9

Senate Tells Buhari to End Impunity, Inaugurate NDDC Board... Page 5 Wednesday 27 November, 2019 Vol 24. No 8997. Price: N250

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FG to Fix Roads for Christmas Ndubuisi Francis, Adedayo Akinwale and Kasim Sumaina in Abuja

The federal government has set aside N36.565,012,899.66 for the rehabilitation of 123 roads across the 36 states of the federation under its post-rainy season programme designed to ease travel difficulties during the Christmas and New Year festivities, THISDAY’s investigation has revealed. Details of the 123 roads are contained in a document prepared by the Federal Ministry of Works and Housing, which forms the action plan to fix failed portions of federal highways

WORTHY AMBASSADOR... Deputy Secretary-General, United Nations, Ms. Amina Mohammed (left), and President Muhammadu Buhari during Amina’s visit to the Presidential Villa, Abuja...yesterday

godwin omoigui

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CBN Seeks Institutional Reforms to Stem Smuggling, Migration of Terrorists Urges FG to reconsider $57 oil benchmark for 2020 budget Holds MPR at 13.5%, CRR at 22.5%

Ndubuisi Francis in Abuja

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) yesterday rose from its last meeting for the year with a call on the federal government to launch institutional reforms through policies that would automate day-to-day processes

of key revenue generating and security agencies as a way of stemming smuggling, kidnapping and the migration of terrorists into the country. It also urged the federal government to reconsider the proposed $57 per barrel benchmark price for oil in Continued on page 9

CHAIRING THE INTERNATIONAL EMMYS... CEO Ebony Life Group and Chair of the 47th International Emmys gala, Mo Abudu, flanked by Lagos State Commissioner for Tourism, Arts and Culture, Shuli Adebolu and Executive Director International Academy of Television Arts & Sciences, Camille Bidermann, at the 47th International Emmys in New York... Monday

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

Senate Tells Buhari to End Impunity, Inaugurate NDDC Board Deji Elumoye in Abuja The Senate yesterday berated the executive arm of government for having two parallel management boards in place for the Niger Delta Development Commission (NDDC). While the Minister of Niger Delta Affairs, Senator Godswill Akpabio, last month inaugurated an Interim Management Committee headed by Dr. Joy Nunieh for the NDDC, the upper legislative chamber early this month confirmed 15 out of the 16 nominees sent to it by President Muhammadu Buhari for approval. The Senate has, therefore, directed the president to swearin the recently confirmed board members. The issue of the parallel boards came to the fore at the Senate plenary when the Senate President, Dr. Ahmad Lawan, read to the hearing of his colleagues the 2019 and 2020 budget proposals of the NDDC forwarded to the Senate for approval by Buhari. Hardly had Lawan finished reading the letter when the Senate Minority Leader, Senator Enyinnaya Abaribe, came under Order 43 of the Senate Standing Rules to observe that members of the NDDC board duly confirmed by the Senate were yet to assume duty. According to him, the failure to swear in the board members may threaten early consideration and quick passage

of the 2019/2020 budget of the NDDC. He added that the Interim Committee of the NDDC, led by Nunieh, is an “illegal contraption� that lacks the backing of law to defend the commission’s budget before the Senate. “Having regard to the fact that this Senate has confirmed members of the board of the NDDC and they are yet to resume office, I fear that we may run into a problem of delayed budget again since nobody will come to defend this budget. “This Senate, having confirmed the board of the NDDC, will not countenance any illegal contraption coming to represent NDDC. To prevent a late budget for NDDC that is helping Nigeria on revenue and development of the region, it will be better for us to prevent this issue from coming," he said. Lawan, while sustaining Abaribe’s point of order, said: “We are receiving the budget of the NDDC for the year 2020 at the right time. “This is the first time ever, and this is a good sign that we are operating on the same frequency with the executive arm of government; that we are in a hurry to deal with matters of the budget because it is an issue that will bring about development in the country.� Reiterating that the Senate had confirmed a 15-man Board for the NDDC on November 5, Lawan stressed that "as far as we are concerned, this Senate knows that we have confirmed

the request of Mr. President on the board membership of the NDDC, and we have communicated that." He added that the next logical thing to do by law is for the appointments of the members of the board to take immediate effect. “I believe that the executive arm of government will attend to that quickly so that we have the right people to defend the appropriation request of Mr. President�, Lawan said. The Senate president had

earlier read out a letter from Buhari for the consideration and passage of the 2019/2020 budget estimates for the NDDC. The letter dated November 21 reads: “Pursuant to Section 18(1) of the Niger Delta Development Commission Establishment Act, I forward herewith 2019/2020 budget estimates of the Niger Delta Development Commission for the kind consideration and passage by the Senate." The Senate had on November 5 confirmed 15 nominees for the board of the NDDC.

The confirmation of the16th nominee, Dr. Joy Nunieh, was, however, due to her failure to appear before the Senate committee on Niger Delta Affairs headed by Senator Peter Nwaoboshi, which earlier screened the nominees. The confirmed NDDC members include former Deputy Governor of Edo State, Dr. Pius Odubu (Chairman); Mr. Bernard Okumagba (Delta), Managing Director; Mr. Otobong Ndem (Akwa Ibom)-Executive Director,

Projects; Mr. Maxwell Oko (Bayelsa)-Executive Director, Finance and Administration; Mr. Jones Erue (Delta); Mr. Victor Ekhator (Edo); Mr. Nwogu Nwogu (Abia) and Mr. Theodore Allison (Bayelsa). Others are Mr. Victor Antai (Akwa Ibom); Mr. Maurice Effiwat (Cross River); Mr. Olugbenga Edema (Ondo); Mr. Uchegbu Kyrian (Imo); Ms. Aisha Muhammed (Northwest); Mr. Shuaibu Zubairu (North-east) and Mr. Abdullahi Bage (North-central).

WELCOME TO NIGERIA... Prime Minister of Netherlands, Mr. Mark Rutte (left), and President Muhammadu Buhari during the visit of Rutte to the Presidential Villa, Abuja...yesterday godwin omoigui

NPHCDA: 2,300 Children, 145 INEC Set for Child-bearing Age Women Lost Daily Supplementary Challenges LGAs, states over primary healthcare Iyobosa Uwugiaren in Abuja The Executive Director/ Chief Executive Officer, National Primary Health Care Development Agency (NPHCDA), Dr. Faisal Shuaib, has challenged local and state governments to be alive to their responsibilities in the management of primary healthcare across the country, saying Nigeria loses about 2,300 under-5s and 145 women of child bearing age daily. Updating editors with the activities of NPHCDA charged with the responsibility of reinvigorating and repositioning the agency and sanitizing the primary healthcare system, Shuaib said the direct responsibility of managing primary healthcare in the country lies with the local and state governments, saying its own mandate is to coordinate and carry out advocacy in support of the project. The CEO, who gave a frightening report about the state of the primary healthcare in the country, said: “The reality, despite

some progress, is that the health system in Nigeria is beset with several challenges with resultant poor health indices. ‘’Nigeria makes up only two per cent of the world’s population but accounts for 14 per cent of the global maternal death burden. One in every eight Nigerian children dies before their fifth birthday; nearly 10 per cent of new born deaths occur in Nigeria every day; Nigeria loses about 2,300 under-5s and 145 women of child bearing age.’’ Shuaib, who was appointed on January 11, 2017 by President Muhammadu Buhari, added that with 40,000 health facilities across the nation, they are with different levels of functionality: shortage of critical human resources; supply challenges; inadequate power or water supply; commodity stockouts; equipment inadequacy; weak standards/ quality, and demand for critical services. Talking about the activities of the agency, in its efforts to fulfil its mandates, the CEO explained that over

the last two years and 10 months, NPHCDA had initiated several ‘’innovative interventions’’ to revamp the agency and reposition it to effectively deliver on its mandates. ‘’These interventions cut across organisational strengthening, financial and programmatic reforms. The agency has achieved varying degrees of success in implementing the initiatives and wishes to use this opportunity to update you on the progress made so far and the plans for the future. ‘’Eradicated polio, and limited the occurrence and impact of diseases using education, immunization and other proven interventions. Improved on access to Basic Health Services -- made basic health services available by ensuring communities have access to health facilities, services and health insurance’’, he added. A parastatal of the Federal Ministry of Health with the mandate to provide technical and programmatic support to states and LGAs on the development of PHC in

Nigeria, the CEO further explained that the agency had also improved on controlling preventable diseases, by improving quality of care; ensuring basic health services are people-oriented and delivered according to established quality standards and protocols. He added that the agency had also developed highperforming health workforce: organized systems and structures to deliver effective support services through, for example, PHC guidelines, norms and enabling acts for states and LGAs, and strengthening partnerships: mobilizing and coordinating stakeholders such as Ministries, Departments and Agencies and development partners to support the implementation of PHC. Shuaib said that the vision of the agency is to finally declare Nigeria polio free; drive routine immunisation rates up to 84 per cent by 2028; provide strategic direction on primary care revitalization; improve Image, strengthen governance and accountability.

Elections in Kogi

Ibrahim Oyewale in Lokoja The Independent National Electoral Commission (INEC) in Kogi State has said that it is ready to conduct the supplementary elections for Kogi West senatorial district and Ajaokuta Federal Constituency respectively on Saturday. The state Resident Electoral Commissioner (REC), Professor James Apam, told stakeholders at a meeting yesterday in Lokoja that the court had ordered the rerun election in 22 polling units, while election would be conducted in 53 polling units where the result of election was cancelled as a result of over-voting. He assured the gathering that all the logistics for the elections were ready, adding that all non-sensitive materials were also available. Apam added that sensitive materials would be ready on the eve of election and sent to the polling units immediately. He restated the commission's commitment to use university lecturers as returning officers

and NYSC members as ad hoc staff. All the speakers at the meeting faulted the conduct of last Saturday’s gubernatorial election in Kogi State, calling on the INEC to improve on its performance in the subsequent election. Meanwhile, the Christian Association of Nigeria (CAN) has pleaded with the INEC and the security agencies to live above board in the discharge of their duties to avert the electoral fraud that marred the just-concluded gubernatorial poll in the state. CAN’s Director of National Issues, Rev. Samuel Owolabi, condemned the rate of violence, intimidation, gunshots, ballot box snatching and vote buying that marred the just-concluded governorship election in the state. "As it is now, people are demoralised to come out to vote because of fear of being killed. They no longer have confidence in INEC and security operatives. What we witnessed during the just concluded governorship election was civil war," Owolabi said.

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With Finance Bill, FG Targets 15% Tax-to-GDP Ratio Minister reports 42% shortfall in 2019 budget revenue projection

Nume Ekeghe The federal government is targeting a tax-to-Gross Domestic Product (GDP) ratio of 15 per cent by 2023, up from the six per cent it is presently, with the Nigeria Tax and Fiscal Law Amendment Bill (the Finance Bill) currently before the National Assembly, according to the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed. She told stakeholders yesterday in Lagos at PwC Nigeria’s executive session on the bill and tax strategy that the Finance Bill would also help government achieve its revenue projections in the proposed 2020 budget. The Finance Bill has five strategic objectives, which include promoting fiscal equity by mitigating instances of regressive taxation such as tax reforms for the insurance sector; reforming domestic tax laws to align with global best practices such as taxes of digital business and e-commerce, introducing tax incentives for investments in infrastructure and capital markets, among others. Also, it seeks to raise the Value Added Tax from five per cent to 7.5 per cent. The minister said: “The Nigerian economy is characterised by structural challenges that limit the country’s ability to sustain economic growth, create more jobs and achieve significant poverty reduction. “One of the biggest challenges of all is our high dependence on oil for our

economic activities, fiscal revenue and foreign exchange earnings. “In 2016, Nigeria fell into recession due to its vulnerability to oil. Although the oil and gas sector accounted for just about 10 per cent of GDP, it represented 94 per cent of export earnings and 62 per cent of government revenues (federal and state) in 2011-2015. “This narrative is changing but we still have much more to do to get to our desired revenue to GDP ratio of 15 per cent by 2023, which we anticipate to come from non-oil revenue. We must grow our tax-to-GDP ratio from the current six per cent as at 2018.� According to her, based on the non-oil revenue performance as at June 2019, the country is on track to further improve its tax to GDP ratio. “Although we are improving, we are way below the Sub-Saharan Africa (SSA) average of about 19 per cent. Ghana, for example had revenue to GDP ratio of about 14 per cent in 2018, whereas other African peers, including Cameroon and Kenya, recorded 16 per cent and 18 percent in 2018 respectively," she stated. The minister listed Nigeria's requirements for sustainable development to include resources to actualise its Economic Recovery and Growth Plan (ERGP) and other development plans, which are at risk of being underfunded. On the 2019 budget, Ahmed

said as at June 30, the actual aggregate revenue stood at N2.04 trillion. This, according to her, indicated a shortfall of 42 per cent arising from the underperformance of both oil and non-oil revenue projections. “Similarly, revenue shortfalls have been experienced since 2017, when the ERGP was launched, resulting in serious deviation from our targeted revenue and expenditure projections. “The infrastructure master plan alone requires about $3 trillion over the next 30 years

Few weeks to the end of the year, known for dry and dusty wind that reduces visibility, the Nigerian Civil Aviation Authority (NCAA) has warned pilots and airlines to strictly abide by weather reports in order to fly safely. The regulatory authority issued the advisory circular to intimate pilots, operators and other stakeholders about dust haze, known as harmattan and safety approach to adopt. NCAA said in a statement yesterday by its spokesman, Sam Adurogoye, that “this Advisory Circular AC: NCAA-AEROMET-28 dated November 12, 2019 is intended to alert pilots to the hazards associated with dust haze which is a dry and dusty wind that blows south from the Sahara across Nigeria. “This situation is expected to persist till March 2019." The agency said the advisory was in line with the Nigerian Meteorological Agency (NIMET)’s position in its Seasonal Rainfall Prediction Bulletin-2019, which noted that the cessation of the rainy season is predicted from mid-

and personal income tax act (PITA) in 2011. “Whereas businesses and the commercial environment continue to evolve, our tax laws remain static. “The Nigerian tax system was built on a progressive tax system but over the years, some of the laws have become regressive at some instances. “More so, it is best practice to accompany budgets with a finance bill that outlines how the budget will be funded, and the reality is, Nigeria must move away from relying on financing budgets from oil revenues,� Ahmed explained.

All Progressives Congress National Leader, Senator Bola Tinubu (left), and Consulate-General of the United Arab Emirates, Dr. Abdulla Al Mandoos, during Mandoos’ courtesy call on Tinubu in Lagos‌yesterday

Alerts travellers of possible flight disruption October (in the Northern part) to early December 2019 (in the Southern part). “Pilots/operators are therefore directed to note the following hazards and operational problems forthwith: air-to-ground visibility may be considerably reduced due to dust haze; aerodrome visibility may fall below the prescribed operating minima and in severe conditions, dust haze can blot out runways, markers and airfield lightings over wide areas making visual navigation extremely difficult or impossible,� NCAA stated. It also warned that flights are bound to be delayed, diverted or cancelled where terminal visibility falls below the prescribed aerodrome operating minima. “On the other hand, enumerated below are series of responsibilities for pilots, operators and air traffic controllers: pilots shall exercise maximum restraint when severe weather condition is observed or forecast by NIMET; flight crews/operators and air traffic controllers (ATC) shall ensure adherence to aerodrome weather

“Simply put, we have very low tax collection efficiency, archaic tax laws that are not evolving at commensurate pace with businesses, leakages in our revenue generation, low tax compliance rates, high level of evasion and poor tax morale to mention a few. “Fixing these issues require robust, tough, well-coordinated and multi-faceted reforms. “One of these reforms is to update our archaic tax laws, which have not been reviewed in over a decade, with the most recent amendments being the amendment of company income tax act (CITA) in 2007

LOOK IN THE DEN...

NCAA Warns Pilots, Airlines on Harmattan Haze Chinedu Eze

to sufficiently address our infrastructure deficit. “To achieve our developmental goals, we need fiscal sufficiency and buoyancy, which must come through domestic revenue mobilisation for it to be sustainable. “This brings us to very important questions: Why do we keep punching below our weight? Why is it difficult to mobilise domestic resources from our large economy to adequately invest in key developmental levers in social and physical assets such as human capital and infrastructure?

minima; all pilots shall obtain adequate departure, en-route, destination and alternate aerodromes weather information and briefing from the aerodrome meteorological office prior to flight operations; and operators shall ensure that necessary measures are put in place to cushion the effects of flight delays or cancellations on their passengers,� NCAA said. The agency added that it expected strict compliance from all stakeholders as violation of the advisory would be viewed seriously. NCAA had earlier warned pilots and airline operators to be wary of bad weather and attendant thunderstorms. The previous weather alert was in lieu of the rainy season and the need to exercise what the agency had described as “extreme caution during flight operations.� The rainy season, which is torrential, is prevalent in the Southern and Northern parts of Nigeria. It is usually accompanied by severe thunderstorms, which could impact the safety of flight operations.

House Investigates Discrepancies in Diaspora Remittances Adedayo Akinwale in Abuja The House of Representatives has ordered an investigation into the discrepancies in the actual amount of remittances made by Nigerians in Diaspora in the last three years. The House ordered the investigation following the adoption of a motion moved at the plenary yesterday by Hon. Tolulope Akande-Sadipe, on the need to ascertain Diaspora remittances and its impact on the nation's economy. She said remittances by Nigerians represented household incomes and investments from foreign economies arising mainly from the temporary or permanent movement of people to those economies and included cash and non-cash items that flow through formal channels, such as electronic wire or through informal channels, such as money or goods carried across borders. The lawmaker explained that the World Bank estimated that global remittances grew by 10 per cent from $633 billion in 2017 to $689 billion in 2018,

with developing countries receiving 77 per cent or $528 billion of the total inflows. Akande-Sadipe noted that Egypt and Nigeria accounted for the largest inflows of remittances into Africa in 2018, with Nigeria leading in terms of remittance receipts in 2017. She said a United Nations official records revealed that there were 1.24 million migrants from Nigeria in the diaspora, while the World Bank report also showed that the Indian diaspora sent a whopping $79 billion back home in 2018, making India the world's top recipient of remittances and at the growth rate of 14 per cent in inward remittances. The lawmaker said India had registered significant growth in the flow of remittances over the last three years, from $62.7 billion in 2016 to $65.3 billion in 2017, remittances reached the $79 billion mark by 2018. Akande-Sadipe said that Nigeria accounted for over a third of migrant remittances flows to sub-Saharan Africa estimated to have amounted

to $23.63 billion in 2018, and represented 6.1 per cent of Nigeria's GDP, which translated to 83 per cent of the nation's budget in 2018 and 11 times the Foreign Direct Investment (FDI) flows in the country within the period and was seven times larger than the $3.4 billion received in 2017 as foreign aid. She stated: "The estimates that migrants remitted to Nigeria could grow to $25.5 billion, $29.8 billion and $34.8 billion in 2019, 2021 and 2023 respectively and over a 15-year period, total remittances flows to Nigeria would grow by almost double in size from $18.37 billion in 2009 to $34.89 billion in 2023. "Since many transactions are unrecorded or take place through informal channels, the actual amount of remittance flows into the country is arguably higher; as in 2018, diaspora remittances to Nigeria was equal to $25 billion, representing 6.1 per cent of the GDP, which also represented 14 per cent year-on-year growth from the $22 billion receipt in 2017.�

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PAGE NINE CBN SEEKS INSTITUTIONAL REFORMS TO STEM SMUGGLING, MIGRATION OF TERRORISTS

the 2020 budget and focus on building fiscal buffers. In addition, it supported the sustained closure of Nigeria’s land borders. CBN Governor, Mr. Godwin Emefiele, read the communiquĂŠ containing these resolutions to journalists at the end of the two-day MPC meeting in Abuja. He said: “On the fiscal sector, the committee identified the need for institutional reforms through policies that would automate day-to-day processes of key revenue generating and security agencies such as the Nigerian Customs. This would provide additional advantage of stemming smuggling, kidnapping and the migration of terrorists into the country.â€? The committee, he stated, noted the lull in the futures market, suggesting that prices would remain relatively weak into the foreseeable future. “The committee, therefore, urged the federal government to reconsider its 2020 budget oil price benchmark of US$57 per barrel to build fiscal buffers,â€? he added. Giving further insight into the committee’s decisions, Emefiele said it welcomed the improvements in output growth in the third quarters of 2019, noting that the current direction of the Purchasing Managers Index (PMI) suggests stronger growth in the fourth quarters. It, however, re-emphasised the need for diversification to strengthen the productive base of the economy and reduce dependence on oil. According to the committee,

diversification has become necessary now that Nigeria has signed the African Continental Free Trade Agreement (AfCTA) and to achieve this, the federal government should continue to improve the investment climate and ease of doing business to attract Foreign Direct Investment. “Particularly, government should, as a priority, improve conditions for global auto manufacturers, including for aviation and rail industries to invest in the country," he said. The committee also commended the expansion in manufacturing output, noting that it was a direct fallout of the policy on loan-to-deposit ratio (LDR), which Emefiele said had made phenomenal impact as banks’ lending to the real sector hits N1.1 trillion between June when it was introduced and October. The committee called on the government to urge the Pensions Commission to improve the prudential requirements for pension funds to refocus their investment portfolio away from their traditional choice of government securities in favour of other viable longterm investments in real estate, manufacturing and agriculture; and indeed infrastructure. “Moreover, the committee called for strong visibility of fiscal and structural policies to improve infrastructure and investment conditions in the economy. It expressed strong optimism that the current policies of the bank (CBN), in a regime of solid fiscal and structural policy support, would yield strong dividends in closing the current negative

output gap in the medium to long term, and place the economy on a sustainable and self-sufficient path of output growth,� the MPC said. As a key pillar of economic diversification, the MPC directed the attention of the fiscal authorities to the immense potential of the gas sub-sector and the urgency to encourage horizontal integration through private sector participation. This, the committee said, would improve domestic power supply and export earnings. On price developments, the committee considered the moderate uptick in headline inflation in October, attributing it partly to an expected temporary shortfall in food supply because of the recent land border closure and rise in demand as the festive season approaches. Although it noted that the price increase was not unexpected, the committee believed that the medium-to-long-term benefits far outweigh the short-term cost. Consequently, it noted the need to drive down food prices through increased support for local production of staples foods, including rice, fish, poultry, palm oil, and tomatoes, among others. It also urged the government to follow through with a sustainable policy on backward integration in the milk industry and other priority sectors of the economy. On the impact of the recent closure of Nigerian land borders on domestic food prices, the committee said any upward price movement arising from the closure was reactionary and therefore temporary.

According to the MPC, significant investment has been made over the last three years to sustainably increase domestic food supply, citing some of the key initiatives in this direction to include: the Commodity Development Initiatives, designed to finance the agricultural value chain of 10 commodities, including cassava, cocoa, cotton, rice, tomato, poultry, livestock and dairy, fish, oil palm and maize, which received N171.66 billion in funding. The committee noted the lull in the futures market, suggesting that oil prices would remain relatively weak into the foreseeable future, and therefore urged the federal government to reconsider its 2020 budget oil price benchmark of US$57 per barrel to build fiscal buffers. The committee was confident that despite the weaknesses from the external sector, efforts to ramp up domestic production, through several measures by both the monetary and fiscal authorities, would douse the adverse effects on the domestic economy in the medium term, through the reduction of importation of food and other commodities. In its consideration to retain the key policy rates , the MPC noted the positive outcome of actions already taken by the CBN. These actions include: current policy on loan-to-deposit ratio, which has resulted in loans and advances rising by over N1.1trillion between June and October. It further noted that these actions had assisted in boosting

credit to the agricultural and manufacturing sectors, hence, the positive outcome on the gross domestic product (GDP) of 2.28 per cent in the last quarter. “The MPC is hopeful that the LDR initiative must be sustained as interest rates being paid by borrowers have so far dropped by up to 400 basis points between June and October 2019. These have happened with corresponding decline in NPLs to 6.5 per cent at end-October 2019. The MPC is, therefore, of the view that sustaining the MPR at its current level is crucial for better understanding of the unfolding impetus of growth before deciding on any probable variations. "The MPC also feels that holding its current policy position offers pathways for appraising the effect of the heterodox policies to encourage lending by the banking industry without varying the policy rate as the downside risk to growth and caution on inflation looks stable. “The MPC is also of the view that the improvements in the macroeconomic indicators such as the GDP, NPLs (non performing loans), CAR (Capital Adequacy Ratio), and the LDR Loan-to Deposit Ratio), suggest that current monetary policy stance is yielding results. “It therefore, feels that maintaining the current stance would be necessary in order to sustain the improvements. In view of the foregoing, the committee decided by a unanimous vote to retain the Monetary Policy Rate (MPR) at 13.5 per cent and to hold all other policy

parameters constant for the Cash Reserve Ratio (CRR) at 22.5 per cent, Liquidity Ratio (LR) at 30 per cent, and the Asymmetric Corridor at +200-500 basis points around the MPR . Responding to questions, Emefiele said the MPC discussed extensively on inflation, adding that it was discovered that food inflation is rising while core inflation is dropping. He called for more serious attention to food inflation as the rise in food inflation occasioned by the action is reactionary and temporary. But he noted that the negative fallout of the border closure, which is rising price is reactionary and can only be temporary. To address the situation, he said attention should be paid to output as increased food production would moderate prices. Irrespective of the temporary adverse consequences of the closure, Emefiele urged the federal government to sustain the action and ensure that the period is exploited to generate employment and ramp up domestic output. Reacting to the issue of declining foreign direct investment inflows (FDIs) into the country, he attributed the development to effects of the global market, stressing that Nigeria is not an isolated case as other emerging markets are similarly affected. He urged fiscal authorities to address structural efficiencies militating against ease of doing business in order to encourage foreign investors.

agents, which in all cases is contingent upon recovery, has never been a subject of executive contention in this matter. “It does not accord with reason and logic for the Federal Government of Nigeria to overlook, forgo and condone loss of $64 billion on account of mere five per cent fee payable upon recovery.�

Three oil producing states of Bayelsa, Rivers and Cross River had filed an action in the Supreme Court on April 27, 2019 praying, among other things the recovery and payment immediately of all outstanding statutory allocations due to them. On January 19, 2018, Trobell International (Nig) Ltd forwarded a proposal to the Office of

the Attorney General of the Federation requesting to be engaged as an agent to recover the PSC arrears. Following the approval, Trobell on April 12, 2018 engaged the services of lawyers, engineers, financial experts and petroleum experts nominated by the three state governments to work out the recovery plan.

the volume of vehicular traffic, he said the increase was most pronounced at the approach of Christmas and the New Year when people travel for family reunions, wedding ceremonies, business transactions and other activities. The minister said the meeting with the major stakeholders was aimed at building a synergy among them, stressing that with the gradual rounding off of the rainy season and the onset of dry weather, contractors would return to sites to stabilise such portions while FERMA would also escalate action in providing palliatives to damaged areas. Fashola said the presence of the Corps Marshal of the FRSC at the meeting was to brief participants on the portions of the roads on need of urgent attention based on a road safety audit it conducted, while FERMA would also make a presentation on its strategies to achieve smooth travel experience during the EMBER months. The contractors, he stressed, were expected to take note of such briefs for immediate response. Giving 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, Oyeyemi said the audit was necessary to evolve strategies to 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. According to the FRSC boss, “In line with this, 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 as a build-up to previous engagements on road audit and implementation of agreed recommendations, a survey of critical corridors was made nationwide to identify areas in urgent need of attention." He added that road traffic management during festive periods deserve adequate attention as Nigerians across board are always on the road for business, pleasure and celebration while 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. The corps marshal, who urged commuters to obey traffic rules and signs, especially on roads under construction or rehabilitation, in order to achieve sanity on the roads, however, warned that the FRSC would enforce the law on the roads during the period. He added that the corps would soon embark on mass enlightenment of the public before enforcing the law. Others who spoke at the meeting included the controllers, who gave account of the roads under their jurisdictions, a representative of FERMA who briefed on the strategy of the agency to contribute to smooth travel experience during the festive season as well as the contractors who pledged their willingness to return to their project sites. Meanwhile, the House of Representatives Committee on Works has said it is interfacing with the Ministry of Works and Housing to ensure that the roads are fixed so Nigerians can enjoy smooth ride during the Yuletide

season. Deputy Chairman of the committee, Hon. Wale Edun, in an interview with THISDAY, said: "We are interfacing with the ministry on the matter to ensure a near smooth ride during the season." Also, the General Manager, Administration, Nigerian Association of Road Transport Owners (NARTO), Atiku Zailani Ahmed, raised the alarm on the state of Nigerian roads, saying that "as owners of vehicles in Nigeria, mostly commercial vehicles, we are concerned about the roads because that is actually the infrastructure that we use to run our business." He noted that bad roads have been a persistent problem.

MALAMI TELLS IOCS TO PAY $62.1BN PSC ARREARS Buhari as against the 30 per cent and above which was the traditional fee by the previous administration. “The comparative basis is not the Lagos budget as the considerable parameter, but the amount due for the recovery which in the circumstance is approximately $62, 190, 679,793.00 as at December 2018.

“When you convert $62, 190,679, 793 billon into naira, it will give you an amount more than 20 trillion naira," he stated. According to him, by virtue of Section 162 of the Constitution of the Federal Republic of Nigeria 1999 as amended, the amount in question is more than enough for three year budget of Nigeria considering the 2020 budget of

N10.3 trillion. Malami said the focus should not be about the composition and who the recovery agents are, but that the funds belonging to the Nigerians must be recovered for the government to carry out more development projects for the benefits of the people. He added: “Above all, volume of the fees payable to the recovery

YULETIDE: FG EARMARKS N36.6BN TO REHABILITATE 123 ROADS

and major arterial roads in view

of the impending Yuletide. The Federal Road Safety Corps (FRSC) has also embarked on a road safety audit, which established the portions of federal roads that are to be fixed as Christmas and New Year festivities approach. This is coming as the Nigerian Association of Road Transport Owners (NARTO) has raised the alarm over the bad state of roads across the country. THISDAY investigations revealed that on a geopolitical basis, a breakdown of the 123 roads billed for rehabilitation or already undergoing repairs by the Federal Roads Maintenance Agency (FERMA) and contractors are North-west (11), North-east (15), North-central (16), Southeast (14), South-south (16) and South-west (51). It was gathered that the failed portions of roads with subsisting contractors will be fixed by such contractors, while FERMA handles those which currently have no ongoing contracts. Various sums of money allocated to rehabilitate roads in each of the geopolitical zones, according to THISDAY’s findings, include: North-central, N6,817,528,88.53; North-east, N4,406,323,657.02; North-west, N3,889,851,676.22; South-east, N6,326,179,112.19; South-south, N5,963,783,102.40 and South-west, N9,161,347,463.30. Some of the roads earmarked for rehabilitation in the North-central zone are the Makurdi-Alaide road; OkeneAjaokuta-Itobe road (Geregu Power Plant and Interchange to Itobe bridge) and Lokoja Shintaku-Dekina-Ayingba road (Lokoja-Geregu-Ganaja route 45). Others are Abuja-Kaduna

road at Km 4,5, 15, 16,18 and 30; Shendam-Plateau State border road in Nasarawa and Keffi-Gitata Kaduna State border, Abuja-Lokoja/Zaria at Geregu, and Kotangora-Minna-Dikko, among others. In the North-east, some of the roads include, Numan-Jalingo, Yola-Hong-Mubi, DamaturuMaiduguri, Gombe-Biu, Bauchi-Gombe State border, Jalingo-Wukari, Wukari-Benue, Damaturu-Dapchi-Bayamari and Potiskum-Ngalda-Gombe, among others. Also pencilled in for repairs in the North-West are the Dan Gwuro at Km10+859 along Kano-Zaria road, Eastern bypass Phases 1&11 road in Kano; KanoGwarzo-Katsina State-Dayi road, Sokoto-Goronyo –Dam site roadSabonBirni-Niger Republic road (route A32), and Zaria-Funtua road, among others. In the South-south, roads billed for rehabilitation are Auchi-Igarra-Ibillo, DeltaAbraka-Agbor highway, AgborAsaba Expressway-Alifekede, Benin-Asaba, Ogoono Bridge along Auchi-Okpella route, Ore-Benin road at KM 9-5 from Ofosu Bridge, Benin-Sapele, Ahoada-Omoku, Calabar-Old Odukpani–Ebrukutu Route No F-108 and Route No 90 9A4-2),and Ikot-Ekpene-Ikot Umuessien –Aba road, among others. The roads to be repaired in South-east are: Onitsha-Owerri dual carriageway (Onitsha, Mgbido and Owerri bound), Enugu-Owerri road; 9th Mile-Orokam Road- 9th Mile interchange-Orokam Benue State boundary. Billed for repairs in the South-west are IbadanOgbomosho, Ogbomosho-

Ilorin, Oyo-Ogbomosho old road, Oyo-Ogbomosho old road, Ibadan-Gbogan road, Shagamu-Mowe-Lagos road and Lagos-Ibadan Expressway, among others. However, in a move to fasttrack the roads rehabilitation and ease pressure on commuters across the country, the Minister of Works and Housing, Mr. Babatunde Fashola, last weekend rallied stakeholders into action for the annual 'Ember months'. At a meeting in Abuja with the FRSC Corps Marshal, Dr. Boboye Oyeyemi, representatives of FERMA, government contractors and the Federal Controllers of Works from the states in attendance, Fashola directed the contractors handling the various roads to remobilise to sites for special works, promising that they would receive payment before the end of the year. The minister, according to a statement by his media adviser, Mr. Hakeem Bello, 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, adding that there was the need to ensure safety for those travelling by road across the country. He said the ministry started preparing for the rainy season early in the year before the exit of the last administration, adding that inspections carried out around March and April revealed rise in water levels in some areas, failures of portions of the roads, washouts and other damages on the roads. Noting that the major challenge on the roads during the dry seasons is the spiral increase in

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COMMENT

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

LIVING WITH HIV

Communities are making the difference in the HIV response, writes Winnie Byanyima

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ommunities have always played a huge part in the response to HIV. People coming together, organizing themselves, telling truth to power and demanding their right to health. For people most vulnerable to HIV, it is no exaggeration to say that communities often make the difference between life and death. For young women and girls and for marginalised and vulnerable groups of people such as gay men and other men who have sex with men, transgender people, sex workers, people who use drugs, prisoners and migrants, the pathway to health is not always as clear-cut as it should be. Stigma and discrimination, repressive laws, ignorance and even hate, can all prevent vulnerable people from accessing life-saving prevention, treatment and care. This is where communities often step in. Communities of people living with HIV, of marginalized and vulnerable groups, of women and of young people lead and sustain the delivery of peer-to-peer HIV services, defend human rights and advocate for access to essential services. They fight every day to keep people at the centre of decision-making and implementation and help to make sure that no one is left behind. Women and girls are the backbone of care support in their families and communities, providing unpaid and often undervalued work in caring for children, the sick, the elderly and the disabled and underpinning fragile social support systems. The involvement and leadership of communities of women is vital in the response to HIV and we must support them and leverage their potential. Community-based services often support fragile public health systems by filling critical gaps; they are led by or connect strongly with women and other marginalized populations; they provide services that complement clinic-based care and they extend the reach of health care to groups that would otherwise fall through the gaps. For example, in Nigeria, the Network of people living with HIV(NEPWHAN) has over 600 support groups all over the

AT A TIME, WHEN REDUCED FUNDING IS PUTTING THE SUSTAINABILITY OF HIV SERVICES IN JEOPARDY, COMMUNITY ACTIVISM REMAINS CRITICAL. INDEED, A GREATER MOBILIZATION OF COMMUNITIES IS URGENTLY REQUIRED AND BARRIERS THAT PREVENT THEM DELIVERING SERVICES AND SEEKING FUNDS MUST BE DISMANTLED

country where members of the support groups are empowered and encouraged for peer review, experience sharing, patient literacy, ensuring treatment adherence and high-level advocacy. The Association of Positive youths living with HIV in Nigeria (APYIN) helps young people living with HIV to come to terms with their reality providing peer support and seeking increased treatment and promoting sexual and reproductive health rights of young people. The Association for women living with HIV in Nigeria (ASHWAN) as mentor mothers empower HIV-positive pregnant women to stay on treatment and provides economic empowerment, care and support for women living with HIV. At a time, when reduced funding is putting the sustainability of HIV services in jeopardy, community activism remains critical. Indeed, a greater mobilization of communities is urgently required and barriers that prevent them delivering services and seeking funds must be dismantled. Communities must have the space and power to voice their demands and write their own solutions. In 2016 world leaders signed the United Nations Political Declaration on Ending AIDS, which recognized the essential role that communities play in advocacy, participation in the coordination of AIDS responses and service delivery. Moreover, they recognized that community responses to HIV must be scaled up and committed to at least 30% of services being community-led by 2030. Most countries are nowhere near reaching that commitment and where investment in communities is most lacking, there is often weaker progress against HIV and other health challenges. Communities stand ready to play their part in building healthier and more resilient societies, but they need our support. On World AIDS Day, let’s celebrate communities, recognize the essential role they play in the response to HIV and commit to meeting the promises made to them. Byanyima is UNAIDS Executive Director

PEOPLE, BITE THE BULLET Sonnie Ekwowusi writes that people should stop shirking their responsibilities

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ntil the people decide to confront their painful situations in Nigeria with unfailing fortitude there may be no end to the Nigerian tragedy. What we are witnessing in Nigeria today is not so much that a few political misfits are mismanaging political power to the detriment of their fellow country men and women: what we are witnessing is that the people previously looked up to as the light of society have decided to remain silent in the face of bourgeoning evil. Their silence, passivity or inaction has engendered complete darkness. If you want to understand what I am talking about try to look around you now as you read this to see whether you can still find any light anywhere. The fundamental value of African communalism in the words of Prof. J .F Ade Ajayi, former Vice-Chancellor of the University of Ibadan, was to “socialize the individual to reach out beyond himself, be willing to share, and be prepared to place his interests of the community above those of self‌.â€? To Polycarp Ikenuobe, African communalism enables the individual to promote the common good and by so doing improve his well being since his well being and the common good are mutually supportive. For example, in Chinua Achebe’s Igbo cosmology, whenever there was a serious issue or issues threatening the communal existence, a wooden gong would resound in the horizon summoning villager to a village meeting to tackle the pressing problem. In my Igbo community of yesteryears, if a village path or alleyway was impassable or overtaken by bush, the villagers did not first set up communities and sub-committee to “examine the matter and make appropriate recommendationsâ€?. If a village path became impassable for any reason, a group of able-bodied young men would, in the spirit of Nzogbu,Nzogbu, Enyimba Enyi, Nzogbu‌ voluntarily mobilize themselves and come out the next day with their shovels, cutlasses and hoes to fix the bad path or alleyway.

Unfortunately in this age of unbridled individualism and militant smart-phone consumerism the Enyimba Enyi spirit is no longer lived. Driven by sheer laziness, cowardice or lukewarmness, many able-bodied young men have shrugged off their political, economic, religious and cultural responsibilities. We sweep injustices under the carpet believing that they will somehow metamorphose into justices with the passage of time or that God will work instant miracles to undo the injustices on our behalf. This may account for why we are still trapped in the same Nigerian mess. Faith without works is a dead faith. In the Old Testament, for example, one comes across human instruments such as Samuel, Saul, David, Moses, Joshua and others who voluntarily allowed themselves to be used by God as His instruments in order to bring about His work of salvation. It may have dawned on you that most of the Bible miracles were performed out of necessity when the human intelligence and human capacities must have been fully exhausted without the expected results. What I am saying? I am not saying that we should stop praying for miracles: I am simply saying that God has no need to work a miracle for something we can do for ourselves. If you cannot, for example, complain to your Local Government Council that a decomposing body of a human being is lying right in front of house, why do you expect to work a miracle and remove the dead body? Three weeks ago or so I was in Accra, Ghana. On realizing that I was from Nigeria, the driver of one of the taxi cabs I boarded did not hesitate for a moment to remind me of the Jerry Rawlings’ treatment in Ghana which in his view had brought sanity to the country. Agreed, murder is murder. You cannot spill human blood simply because you want to cleanse the Argean Stable. But you have to do the best you can always to save society from ruin. To that Ghanaian taxi driver, Rawlings’ treatment was his best at that time to salvage Ghana from ruin. Until

every Nigerian realizes that he or she has a crucial role to play in salvaging Nigeria from the doldrums of political maladies we would continue to sink low and low. The other day I was ascending the Eko Bridge, Lagos towards the Agbongbo mess and before I knew it I had counted not less 26 man-hole slabs or covers which have been stolen. That was when I appreciated the lawlessness that the new Lagos has truly become. Therefore, the people should bite the bullet. A time has come for the people to stand up and be counted. Ours is supposed to be a constitutional democracy in which sovereignty resides with the people. Therefore the people should stop shirking their responsibilities. In the past Nigerian lawyers were singled out for their outspokenness against societal injustice. Sadly enough they are being singled out today for their long titles and long robes which they believe accord them honour and respect in public. But lawyers should remember that one injustice left un-remedied begets another injustice. “One injustice anywhere is a threat to justice everywhere� (Martin Luther King Jr). We shall never be weary. We shall not surrender. We shall never get tired of reminding the men and women of our time about the following immortal words of Pastor Martin Neimoller (1892-1984): “First they came for the Socialists, and I did not speak out because I was not a Socialist. Then they came for the Trade Unionists, and I did not speak out because I was not a Trade Unionist. Then they came for the Jews, and I did not speak out because I was not a Jew. Then they came for me and there was no one left to speak for me�. If someone had told us a few months ago that Sowore would still be in the dungeon of the DSS after the man had fulfilled the stringent bail conditions attached to the order for his release, we would probably have disbelieved the person. Similarly, if Court of Appeal Justice Chioma Nwosu-Iheme had

had a premonition a few months ago that she would be a victim of the most vicious kidnap in Nigeria she probably would have dismissed the premonition as a figment of her wild imagination. Go back and re-read her ordeal in the hands of her captors. Upon sighting her official vehicle carrying a federal government plate number approaching the bad spot, her would-be kidnappers who were completely attired in police uniform, came out with their guns and halted the vehicle. They knew that an important person was inside the vehicle. They saw the fully-armed Police Orderly of Justice Nwosu-Iheme seated in the front of the vehicle. They opened fire on the Orderly and killed him instantly. Thereafter they descended on Justice Nwosu-Iheme. Thank God they didn’t kill her after collecting the ransom that was paid to secure her life. The rest is now history. Let me quickly say that with the recent abduction of Justice Nwosu-Iheme, the Benin kidnappers have established a bad precedent which other kidnappers in Nigeria are likely to follow henceforth. They now know that it is more “lucrative� to kidnap a judge. So, learned judges, be on your guard. This is our new Nigeria. How many police escorts does a big man need in today’s Nigeria to secure his life? Two? Three? Twenty? I am asking you these questions because I know a certain rich man who spends not less N5 million on police escorts alone each time he has to travel to his village. So let us do the best we can always no matter how inconsequential it may seem in the eyes of others. What is important is that we are contributing to the building of a nation. So we must not remain aloof. The hottest place in hell, we have been told, should be reserved for those who keep quiet in times of great moral crisis. Therefore we must reject the new culture of silence which has engendered the culture of passivity in today’s Nigeria. Evil truly thrives when the so-called good men sit back and do nothing.

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EDITORIAL VIOLENCE AND THE ELECTORAL SYSTEM The perks attached to political office holders must be slashed to stem the violence

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n comparison with the other elections since the country’s return to democracy 20 years ago, the governorship elections in Bayelsa and Kogi States were certainly one of the most vicious. In Kogi particularly, gun violence won the day. The statistics of the dead on election day in Kogi, put at seven, may not tell the whole story. Before, during and after the votes were cast, violence was swiftly deployed to decisively settle political scores and win the electoral argument. The chairperson of the Transition Monitoring Group, a coalition of over 400 civil rights organisations, Dr Abiola Akiyode Afolabi, said the situation in Kogi “was worrisome, given the attendant frustration and fear unleashed on various citizens who were faced with electoral intimidation, violence and killings as the case may be. The entire process was a sham and could be best described as elections programmed to fail in the sense that it fell below the standard of a credible election.” It is more bewildering that while violence was walking the streets, IT IS BEWILDERING THAT the police, sent in WHILE VIOLENCE WAS saturated numbers to WALKING THE STREETS, tamp down atrocities, THE POLICE, SENT IN were nowhere to be SATURATED NUMBERS TO seen. Some hoodTAMP DOWN ATROCITIES, lums in “fake” police and army uniforms WERE NOWHERE TO BE instead, seized the SEEN streets and scared away voters, burnt ballot boxes and drilled fear into the minds of many. But what was even brutal beyond belief–was the cold-blooded murder of a 60-year old lady, said to be a local Peoples Democratic Party (PDP) leader two days after the election when her home was deliberately set on fire. What was her offence? What is the cause of this extreme aggression in our politics? What’s behind the chaos in our elections? To be sure, the governorship elections in Kogi and Bayelsa were hardly the worst in incendiary violence, where acts of aggression were unleashed on Nigerians

Letters to the Editor

wanting to perform their civic duty. But in view of the controversy that trailed the 2019 general election as well as other stand-alone gubernatorial elections in recent years, we expected the Independent National Electoral Commission (INEC) to have learnt its lessons from past flaws and conduct these elections with every sense of responsibility.

B 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

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.

2023 PRESIDENCY: WILL THE NORTH CEDE POWER?

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023 may well give Nigerians the chance to choose between progress and status quo. But going by the way citizens are reacting to some names that are already gaining traction in the circle of presidential hopefuls, it can be assumed that in the next four years and probably beyond, the country will still be orbiting around the question of whose “turn it is” to (mal)administer it. For the liberals therefore, the possibility of the next Nigerian electioneering campaign to be based on issues that will afford Nigerians the option of electing among an array of distinguished candidates, one that proves capable of driving the needed movement towards a more advanced state, remains a pipe dream. This may continue to be the case until restructuring comes to the rescue. With contenders from all the geopolitical zones now beginning to rear their heads for the nation’s top job, the power rotation debate is on, and, it appears the North will still determine who will wear the crown. Though viewed negatively by other parts of the country, the North remains highly politically wired, being the only region no presidential candidate can do without due to its population advantage. An average northern house houses an extended family, having an average of at least five children, which proportionally increases voters who do not take their franchise for granted accordingly. The implication is simple; irrespective

esides, after the huge outcry that followed the general election where arm-wielding security personnel compromised their professional credibility in shameless partisanship, we expected a change for the better. The INEC was forthright enough then to condemn the actions of the military personnel and armed gangs who disrupted the election process particularly in Rivers and Bauchi States “resulting in the intimidation and unlawful arrest of election officials thereby disrupting the collation process…” Indeed, in October 2015, the Nigerian Army had cause to set up a board of inquiry to investigate alleged malpractices and involvement of its personnel in Ekiti and Osun States during the 2014 governorship elections. “The essence of the investigation is to prevent future unprofessional conduct by officers and men in the performance of constitutional roles. It is to strengthen Nigerian Army’s support to democratic values and structures,” said the army. But given what transpired during the recent elections, it is evident that they learnt nothing from the previous ugly experience. Sadly, the police are increasingly being drawn to ghastly partisanship. We have stated in this space repeatedly that the struggles for election in our polity are vicious and bloody because the stakes are very high. A win during an election can transform a hitherto struggling man to a life of luxury. The perks attached to the offices of politicians and other political office holders must be pruned drastically to expect a change in the desired direction. Besides, those caught employing the use of violence must be marked down and brought to justice. No election is worth dying for.

of zoning system, number of ethnic groups in Nigeria, politically, the North will always rule or decide who rules. However, in the likelihood of a division – which can easily be staged – the South may form a powerful, organized minority and the table may turn eventually. So, the 2023 Presidential election is at the moment hinged on whether the North will decide to retain power or hinge it on whom it thinks the crown fits or the South will form an organized powerful minority including alliance with sections of the North to wrestle it. The risk of such kind of political orbiting remains at the expense of National growth and development. For instance, it will be recalled that in April last year, statistics released by the Ministry of Education showed that only 28 candidates from Zamfara State, registered for the National Common Entrance Examination for Admission into the 104 Federal Government Colleges where 4,810 candidates registered for the same exams in Rivers State. In the next few years, those that make up the default population of unregistered candidate in the North will be eligible voters and their choice will majorly affect who becomes Nigeria’s President. If this pattern continues, candidates may not emerge on credentials but on sentimental appeal. This trajectory may breed a fertile ground for poverty to prosper and cause development to stagnate.

Mohammed Dahiru Lawal, PRNigeria Center, Kano

THE SOFTENING OF THE DELE GIWA POSSE

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y interest in prose, a little quirk oddity for a science student in a typical Nigerian secondary school of the 1980s, was aroused by a combination of factors that I can trace to my Indian English Language teacher at the Army Day Secondary School, Minna; my mother always faithfully giving me Sunday handouts to buy Sunday Times and the Concord paper (its green standard stood out); and the romance of journalism that the quartet of Dele Giwa, Ray Ekpu, Dan Agbese, and Yakubu Mohammed conveyed through the Newswatch weekly magazine. Wasn’t I thoroughly impressed with the travel tales of the late Dele Giwa, especially that one about his experience conversing with a Dutchman at the Schiphol who could spreek a little English and made reference to the “hand watch” (wristwatch) he was wearing? Dele Giwa had a way of making his lines clear to the reader, even to a young mind like mine; I was loving prose, no doubt about it. No wonder my best WAEC grade was in English Language (even though my Physics and Chemistry grades were at par with that of my English Language, I’d always, privately, considered those as “sidekicks”). When Dele Giwa got blown away in a parcel-bomb incident, what we heard as youngsters was that he died fighting for the truth and he was just on the verge of an important national expos that would have shocked the country; everyone had an inkling of what he was working to expose. We expected the surviving trio of Messrs. Ekpu, Agbese, and Mohammed to carry on with this vigorous, anti-establishment, pro-people kind of journalism but, well, the 1980s just petered out like that, what with SAP and all. Not long ago, this surviving trio popped up again in our nationalism journalism consciousness (after, I presume, that exhaustive battle with Jimoh Ibrahim) to do syndicated weekly columns for some national dailies; I tried to get myself interested in their 21st century worldview but I guess I have caught that activist bug long enough to wonder what has happened to these once young firebrands. The “resurrection” of this trio, the Dele Giwa posse, coincides with a time that Nigeria sorely needed pro-people advocates but, alas, the trio does soft-touch issues nowadays. Sunday Adole Jonah, Department of Physics, Federal University of Technology, Minna, Niger State

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MIDWEEKPOLITICS

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

A N A LY S I S

Niger Goes To The Poll To Elect 25 Council Chairmen, 274 Councillors

The electorate in Niger state will again troop to the polling stations on Saturday to elect chairmen and councillors for the 25 council areas and 274 wards in a likely two horse race involving the ruling APC and the Opposition PDP. Laleye Dipo writes that the electoral umpire NSIEC, the Police, Civil Defence and participating political parties say they are set for the polls

Alhaji Yahaya Abara NSIEC Commissioner in charge of Operation

Alhaji Aminu Baba Alhaji NSIEC Chairman

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24 hours before the election a policy it believes will keep them away from the prying eyes of the candidates and the participating political parties influence. The plan also include the movement of these officials and election materials to polling units “at the same time” thereby ensuring early arrival of materials and commencement of polling. While in the camps Abara said the officials would be fed and provided adequate security. Unlike in previous exercises results for councillorship will be announced at the ward headquarters while that of the chairmanship will be at the local government headquarters. “We will also paste these results on the walls at the ward and local government headquarters for everyone to see, this is one of the steps we are taking to ensure transparency and acceptability of the poll,” Abara said. In addition a journal has been produced for the documentation of information of officials, the police and the media at each polling unit, saying that “there will therefore be no way for anyone that has participated in the exercise to deny the information in the journal.” To further ensure that the polls will not be compromised NSIEC said it has customised the ballot papers and ballot boxes to the extent that a ballot paper for a polling unit cannot be used in another unit adding that, “all the officials will also be made to take oaths that they will be neutral in the handling of the election.” It was learnt that not less than 60 observer groups applied to monitor the election but so far only 20 of them have been cleared for the job by the police. State chairman of the Commission Alhaji Aminu Baba Alhaji said, “We are ready for the election everything has been put in place, we are only waiting for the D- day.” According to him polls will open at 8am and close at 4pm, “We will ensure that all that present their Permanent Voter Card vote before we close polling as long as they are on the queue.” He added that speed boats and live jackets have been provided for officials that will work in the riverine communities. Alhaji Aminu said the commission has

fter some protests by stakeholders, the Niger State Independent Electoral Commission (NSIEC) is now set to conduct elections into the 25 local governments

in the state. The election would have held some four months back but the Inter Party Advisory Committee (IPAC) in the state kicked against the timetable released by the NSIEC primarily on the ground that its members were not given enough notice, a development IPAC claimed would have given undue advantage to the two major political parties, the All Progressives Congress (APC) which is the party in government and the main opposition party, the Peoples Democratic Party (PDP). Both the electoral umpire and IPAC have since resolved their differences resulting in the election being fixed for November 30. However, as preparation for the election commenced the PDP raised an objection to the “Administrative charge” imposed on the candidates. Tanko Beji state chairman of the PDP described the N100,000 each for chairmanship and vice chairmanship candidate and N25,000 for each councillorship contestant “as illegal” and vowed that the party’s candidates will not pay. However, when the NSIEC maintained its ground backing its position with the law, the PDP and other parties that initially vowed not to pay backed down setting the stage for another battle royal between the ruling APC and the main opposition party, the PDP. On the whole, according to the Commissioner in charge of Operation of the NSIEC, Alhaji Yahaya Abara only nine political parties out of the barrage that took part in the 2019 general election a few months back will field candidates for the election. A total of 753 candidates from the nine political parties with 83 of them vying for the 25 chairmanship seats and 670 for the 274 councillorship positions are to slug it out in the election . The breakdown shows that both the ruling APC and the main challenger the PDP are contesting all the seats. Other parties that will be on the ballot include APGA, GPN and ANP. The APC controlled the 25 councils in the

last election though the PDP vehemently protested the outcome of that exercise. According to Yahaya Abara not less than 19,000 adhoc staff as well as over 60 Electoral and Assistant Electoral Officers will preside over the election which will be the second to be conducted under the present APC government in the state though not with the present crop of electoral umpires. The NSIEC is determined to make the election “ very transparent free, and fair” and has therefore put in place logistics to ensure this objective is achieved. Apart from the training of all officials that will supervise the election, NSIEC has introduced a novel idea which is the “camping” of the staff in designated areas

On the whole, according to the Commissioner in charge of Operation of the NSIEC, Alhaji Yahaya Abara only nine political parties out of the barrage that took part in the 2019 general election a few months back will field candidates for the election. A total of 753 candidates from the nine political parties with 83 of them vying for the 25 chairmanship seats and 670 for the 274 councillorship positions are to slug it out in the election

been collaborating with security agencies especially the police to provide security for voters and election materials. At a stakeholders meeting held at the Police Officers Mess Aminu Baba Alhaji dispelled the rumour that has been making the rounds that the Commission had “written and given” the candidates of a certain political party the results of the yet to be conducted election. He asked the people to shun rumour mongering as such was capable of creating unnecessary tension during and after the election. The police on its part has expressed readiness for the election but warned that it would not allow the crises that pervaded the party primaries to truncate its plan to have a peaceful election. During the primary elections according to the state police commissioner Alhaji Adamu Usman not less than 61 people were arrested and prosecuted for various offences including “sponsoring, aiding / abetting political violence” The local governments mostly affected were Rafi, Katcha Paiko, Tafa and Rijau. Reports also have it that no fewer than four people lost their lives in the crises. Adamu Usman told a stakeholders meeting ahead of the election that “this desperation displayed by aspirants and their thugs in primaries will not be tolerated on election day and after.” The Commissioner said enough personnel have been mobilised to man polling units across the state saying those that contravene the law would be arrested and prosecuted. On its part the Nigeria Security and Civil Defence Corps (NSCDC) also expressed readiness for the election as not less than 19,000 of its men have been engaged for security duties on election day. NSIEC has also assured people in areas where insurgency has played out in recent times that they have nothing to fear because “we have mobilised enough security operatives for election duties in all these areas.” As the count down begins political parties and their candidates have been criss crossing the length and breadth of the state to canvass for votes in peaceful and orderly manner. It is only expected that the peace will continue till election day and after.

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POLITICS

Olujimi’s Victory and the Impending Leadership Battle in Ekiti PDP Victor Ogunje writes that the hope of the Peoples Democratic Party, the main opposition party in Ekiti State may have been rekindled with the return of the former Deputy Governor, Abiodun Olujimi to the senate, but the party needs to manage the imminent leadership battle between her and former Governor Ayodele Fayose

Fayemi

Fayose

Olujimi

Adeyeye

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Adeyeye is an old horse in politics. He was in the youth wing of the Chief Obafemi Awolowo-led Unity Party of Nigeria (UPN) as a university student in 1979. He contested in 1999 and 2003 for the same Senatorial seat on the platform of highly popular Alliance for Democracy (AD) and lost at those two attempts. Since then, he has not contested until 2019. Though, he had held several strategic positions like Minister of State of Works and National Publicity Secretary of the Peoples Democratic Party(PDP) under Goodluck Jonathan presidency. But Olujimi has always been acting like a cat with nine lives in politics of the state. She came like an underdog in 2004 and contested a House of Representatives byeelection after the occupant, Abiodun Talabi was killed along Abuja-Lokoja highway. With the support of Governor Ayodele Fayose, Olujimi won resoundingly. Also, in an enigmatic way, Olujimi surprisingly emerged Fayose’s deputy in 2005 after his first Deputy, Abiodun Aluko was impeached. But her political carrier suffered a terrific blow in 2006 , when Fayose was impeached and he went underground until

2007 when she was made a Commissioner for Works under Segun Oni -led regime. She also played pivotal role in the second coming of Fayose in 2014 and that earned her the Senatorial ticket she got from PDP and in 2015 as a payback. Looking at these highly rich political trajectories, one could easily decipher that the duo are well equipped politically and a contest between them was expected to be keen and fierce, which is the way the Senatorial poll eventually went. What makes Adeyeye’s removal painful and excruciating are two-fold. One, he has been able to connect himself to the right caucus in the Senate and this earned him the position of spokesman of the upper chamber. He was already launching himself to national political reckoning when the judicial hammer hit him hard. Again, it was akin to a painful replay of history. In 1999, Adeyeye was the only AD Senatorial candidate that lost election. At that time, AD was a darling party in the region and whoever got the party’s ticket was sure of winning. Despite this obvious fact, Adeyeye lost to Senator Gbenga Aluko of the PDP. As things stand now, PDP members are apprehensive, because the victory for Olujimi coming at a time Fayose was out of office and enjoying little political relevance could once again put the PDP on the spot and in a precarious situation. It will require managerial skills by the leadership to prevent a repeat of the old scores between the duo, which borders on leadership contest. In actual fact, this victory will stand Olujimi in a good stead to prosecute her leadership war against his former godfather. Shortly after the 2018 governorship election, they began to jostle for the control of PDP in Ekiti. The crisis snowballed to the level that while Fayose supported the Sokoto State Governor, Aminu Tambuwal for the PDP’s presidential primary in Port Harcourt, Rivers State, Olujimi and her loyalists backed former Vice President Atiku Abubakar. As of now, the PDP in Ekoti state has been polarised into two groups. Those who supported Olujimi at that time believe that being the Minority Leader then in the Senate, she stood as the most senior office holder in Ekiti, who could mount the leadership soapbox and be accepted. But Fayose’s backers insisted that he remains the natural leader, being a former governor. However, the State Publicity Secretary of the party, Jackson Adebayo dispelled such apprehension. He said there was no section of the PDP constitution that recognises any governor or senator as a leader. He stressed that the State Chairman of the party remains the leader and the highest authority in the state hierarchy of the party. Adebayo assured that there was no cause for

alarm and that everything is well in the party. He said the PDP in Ekiti is well positioned to handle the highly volatile situation . As of now, there is no love lust between the two personalities, like it was in the past. To make matter worse for Fayose, all the founding founders of the party and large numbers of those who served as commissioners under his second term, have pitched their tent with Olujimi, thereby putting Fayose in the lurch. But Adebayo said, “There is no reason for them to fight over leadership, because they are familiar with the the party’s constitution. They know that the State Working Committee remains the leadership and nowhere was it stated that one senator or governor should be the leader. “I believe the two eminent personalities should work for the party, so that we can make our party reclaim Ekiti back in 2022 and not to be engaging in any tussle, that is not what we need now,” he said. But the highly elated Olujimi described the victory as surprising and that it had renewed her hope in the country’s democracy. Olujimi said, “I have been speechless since the Appeal Court Ado Ekiti, sitting in Kaduna upheld the decision of the tribunal to the effect that I, be returned as Senator, elected on the platform of the PDP in the last Senatorial election. “It’s a mixed feelings of relief and disbelief. However, let me thank the Almighty God, the author and the finisher of my faith for his compassion and mercy for ‘if Paul sows and Apollo waters, without the grace of God, they do so in vain’. For me, it was sheer grace, uncommon grace that spoke for me and I will never take it for granted.” Olujimi promised that she would work hard to reposition the PDP to win future elections. A thorough perusal of her statement gave a pointer to the fact that leadership contest was not her preference, but how to fortify her party ahead for 2022. But the Director General of her campaign organisation and former Ekiti state house of assembly member, Hon Bunmi Olugbade sounded daring with his fanatical belief that Olujimi, being the only Senator in the state has emerged as a natural leader. He said the leadership contest is no longer debatable. Olugbade, however, corrected the erroneous impression that Olujimi had a running battle with Fayose over control of PDP. The former state parliamentarian clarified the issue that the founding fathers of PDP actually made her a leader and that it was not an act of imposition or desperation for power as pro -Fayose members painted it.

n November 6, 2019, an uncommon event occurred in the politics of Ekiti state, which shook the state to its foundation. In a thunderbolt-like manner, the Appeal Court sitting in far away Kaduna, removed the Senator representing Ekiti South Senatorial District, Prince Dayo Adeyeye and declared his main challenger, Senator Biodun Olujimi the winner. It was one verdict that swiftly woke up Olujimi’s party, the Peoples Democratic Party (PDP) that has been in deep slumber since it lost out in the July 14, 2018 governorship election. The party’s confidence seems to have been more reinforced and rejuvenated and the members now have their eyes fixed on the next election in 2022 to be able to reclaim the state back from the All Progressives Congress (APC). But as strategic as her sudden emergence was to the party’s future, there are fears that this could renew the leadership tussle between the Senator and her estranged godfather, former Governor Ayodele Fayose. Some critical stakeholders opined that any rancour between the two most powerful PDP members could emasculate it and render the party impotent in its bid to win future elections. However, on the day of the judgement, the relocation of the Appeal Court justices from Ekiti to far away Kaduna was instructive and lent credence to the fact that something sinister was about to happen. It was generally believed that the jurists took the clandestine action to ward off pressure from interested parties. Since 2007, both Adeyeye and Olujimi have always been staunch political allies. Even during the scramble for the PDP ticket in the last governorship election in Ekiti, Olujimi stepped down for Adeyeye to be able to engage Prof Kolapo Olusola, prodded by Governor Ayodele Fayose in a serious contest in the primary. Though, the alliance was strong, but was not enough to outweigh Fayose’s political machinery within the PDP. Before the judicial crisis got to the peak, the Justice Danladi Adeck-led Election Petition Tribunal, had on September 8 ruled against Adeyeye of the APC to the consternation of the people. People were astounded because the election was a build up to the last year’s governorship election won by Governor Kayode Fayemi. People were shocked at how could Adeyeye have lost out when the APC cleared every available seat in the state and federal legislative elections in 2019. Prior to the February 23 federal legislative election, the electoral battle between Adeyeye and Olujimi was talk of the town and the reason was not far fetched. The two have enormous followership and political experience, coupled with deep financial war chest to prosecute any electoral battle.

As of now, the PDP in Ekoti state has been polarised into two groups. Those who supported Olujimi at that time believe that being the Minority Leader then in the Senate, she stood as the most senior office holder in Ekiti, who could mount the leadership soapbox and be accepted. But Fayose’s backers insisted that he remains the natural leader, being a former governor

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

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FEATURES

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

Equipping Female Entrepreneurs Chinecherem Ojiako writes that the Ladies Helpline Initiative, in collaboration with NEW Women Microfinance Bank and Digivate 360, recently launched the Africa Women Economic and Entrepreneurship Summit to empower female entrepreneurs across board

Cross section of participants

Convener of AWEES; Izehi Hannah Agunkejoye

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hemed “Unlocking new opportunities for business growth: the 2020 tech agenda�, the Ladies Helpline Initiative in collaboration with NEW Women Microfinance Bank and Digivate 360, recently launched the Africa Women Economic and Entrepreneurship Summit (AWEES) 2019, a business and economic drive for African women in business. The event which was held at NECA Building, Hakeem Balogun, Alausa, Lagos, was attended by women entrepreneurs, business owners and women trade organisations who converged on the event to receive hands-on insight, global economic trends and hacks on business positioning and global scaling from seasoned and renowned minds. Asides building mentorship network, the event was aimed at empowering and encouraging women to embrace entrepreneurship, prosper in business for the general good of the society

L-R: Ella George, Dupe Darabidan, Grace Akinosun and Esther Adeola-Balogun, all women panelists

and achieve total well-being while impacting others. Thus, the organisation is geared towards being the perfect network for budding generations of successful women entrepreneurs, as it aims to empower the businesses of female entrepreneurs to make a tremendous leap using what was learnt from the experience of other successful entrepreneurs. To do this, the group seeks to effectively influence and apply government business policies while getting exposure to various venture capital and investment opportunities. Thus, the summit focused on enhancing the business of female entrepreneurs with this year ’s objective aimed at equipping women with the key tools and mentoring that will give them an edge and nudge them higher on the scale to do their utmost best without hindrance or distraction. At the conference, the convener of

AWEES 2019 and Executive Director of Ladies Helpline Initiative, Izehi Hannah Agunkejoye said the objective of AWEES 2019 is to equip women with the crucial elements required to grow their business and generate sales leads via technology for a productive 2020. Also speaking, MD, NNEW Women Bank, Esther Adel-Balogun, said “AWEES 2019 is a great opportunity for female-led businesses to acquire real-life hacks, as used by the likes of Folorunsho Alakija to build multibillion-dollar ventures. We are glad to engage women entrepreneurs who are ready to take their business to the next level in 2020 especially as it relates to business growth and expansion through finance.� Speakers at AWEES 2019, include Grace Akinosun, MD SMEPeaks; Dupe Darabidan, Founder iStarter Hub; and Ella George, MD, Hill Bridge Consulting, were able to share insights and

experiences to women on how they can scale up their business and build flourishing businesses will outlive them. The hightlights at the event include business expansion — funding, partnerships and leverage; The Technology leverage — improving business skills; and Growth Hacking — generating more sales Insights on social media tools for business growth. The group noted that considering that many businesses in emerging economies barely scale to the heights of their global counterparts, there’s a growing need to divulge business tactics often hidden amongst the few. At the AWEES 2019, women participants underwent practical training sessions on how to: Build a robust customer base/find new clients, Build communities with groups, Get creative with mobile phones, Maximise Instagram for business and Penetrate international markets and lots more.

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FEATURES

Honour for a Detribalised Humanitarian Adibe Emenyonu writes on the exemplary humanitarian services of Chief Richard Oma Ahonaruogho to his alma mater which prompted the Governing Council and the Senate of the University of Benin to confer the honourary Doctor of Laws on him

Celebrant, Chief (Dr.) Richard Oma Ahonaruogho, presenting a book to Prof. Richard Anao, chairman of the reception

L -R: Prof. Richard Anao, chairman of the reception; Ahonaruogho and wife; honouree’s parents, Chief and Chief (Mrs) Jeremiah Ahonaruogho and another guest

Ahonaruogho (5th right) presenting books to the Law Faculty, University of Benin during the reception in his honour by the university

Honouree dancing with wife, Chief (Mrs) Mojisola Ahonaruogho at the reception of his conferment of honorary Doctor of Law by the University of Benin

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t is a truism and an incontrovertible fact that Chief Richard Oma Ahonaruogho's life in all aspects and ramifications is service to humanity, irrespective of race, nationality, tribe, religion or gender. Perhaps, it was in recognition of this fact that the University of Benin Governing Council decided to honour a man who as attested, has been a bridge builder, a philanthropist par excellent, a great ambassador, a model, and goal-getter who has never let a chance pass him by to add value to the university he attended, his professional body ((NBA), his community are unprecedented and legendary. Testimonies to this achievements are borne by his unceasing network of a robust linkage among alumni of the University of Benin, both in Nigeria and in the Diaspora. He is described as a great gift to humanity which is an eloquent testimony to the numerous award by diverse interests, including royalty and the University of Benin. For instance, while reading his profile, the University of Benin Orator, Prof. Eddy Eragbe, described Chief Ahonaruogho as "a man of several parts, who at various times in his adult life has made indelible marks and impacts in the lives of several persons in different facets of life with whom he had interfaced�. The above description no doubt appropriately captures the essence Ahonaruogho's person and indeed a resonating and resounding applause that the conferment of Doctor of Law (Honoris Causa) on him by the university became an acknowledgment of his tireless service to that ivory tower, his graduation and the numerous meritorious service in several offices he held in the alumni association, culminating in the establishment of branches in Europe and America and other countries of the world bestowing the appendage “Worldwide� to the University of Benin Alumni Association (UBAA). During a reception in honour of his new title "Chief (Dr.) Richard Oma Ahonaruogho, because

Parents of Chief Richard Ahonaruogho, cutting their 82nd and 80th birthday cake at the reception of the honorary doctorate degree in law by the University of Benin, Chairman of the occasion, Prof. Richard Anao, said throughout the greater part he new the honoree and celebrant, it has always been about his philanthropist gestures. Prof. Anao who was former Vice Chancellor of the university, disclosed that throughout his tenure as vice chancellor, Ahonaruogho was always there to help, proffer solutions adding "he is one of the greatest alumnus of the university". Continuing, the former University of Benin boss said: "The honouree today was instrumental to the grand reception organised in my honour when I completed my tenure as Vice Chancellor. He has supported indigent students not only in

Uniben but other universities. He is a very large hearted man.� In his goodwill message, the Chief Judge of Delta State, represented by Justice K. O. Obuh, noted that the period the honoree was at the Governing Council of University of Benin was a great period because he has never been ashamed to identify himself with the university. He added that it was no wonder that today he stands as the first alumni to be conferred with honorary doctorate degree of the university. There was also goodwill messages from pioneer law class, his classmates at Victory High School, Lagos; and Baptist High School, Ikeja who described the celebrant as delectable man with zeal, zest and

energy to attend alumni meetings. They also acknowledged his investments into the alumni association which no one has equal, describing him as an achiever that will go more places. Among other awards in recognition of the valuable contributions of Chief Ahonaruogho to the legal profession include NBA Merit award for outstanding contributions to the association, recipient of NBA Service award, recipient of the Distinguished Alumni award, recipient of the Plaque of appreciation for his role as Chairman of the Conference of Alumni Associations of Nigerian Universities (CAANU) among others. The celebrant also hold a chieftaincy title of High Chief Ogwatumise of Owo Kingdom conferred on him and his wife Mojisola in 2006 by His Royal Majesty, Oba David Folagbade Olateru-Olagbegi III, the Olowo of Owo Kingdom, Ondo State of Nigeria who was then the Chancellor of University of Benin. The reception celebration also coincided with the birthday of Chief Ahonaruogho parents, Chief and Chief (Mrs.) Jeremiah Ahonaruogho who turned 82 and 80 years respectively. There was also book presentations to individuals and to the University of Benin Faculty of Law by Chief Ahonaruogho. In his appreciation message, the honouree, Chief (Dr.) Richard Oma Ahonaruogho thanked those who came to celebrate with him, saying celebrations will never depart in their lives. The Chief who hail from Ughoton in Okpe Local government area of Edo State recalled an interview he granted THISDAY in 2016, reinstating that Late Chief Olasupo Moroundiya, a foremost legal practitioner had been the most influential person in his life. He said with nostalgia, “My closeness to him gave me a greater insight into life and upon getting married, I had no hesitation to join the church at which he worshiped, the First Baptist Church, Ikeja, Lagos.�

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WEDNESDAY NOVEMBER 27, 2019 •T H I S D AY

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T H I S D AY Ëž Í°ÍľËœ 2019

BUSINESSWORLD R A T E S MONEY MARKET OVERNIGHT OBB

A S

A T N O V E M B E R

REPO CALL

ͯͲ˛͎; ͯ͹˛͎;

1-MONTH 3-MONTH

14 13.50 ͯͲ˛;ͳ

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

445.38 % 0.32% 0.66%

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

1 5 , S & P INDEX 1/4 TO DATE YEAR TO DATE

2 0 1 9 8.02% ͰͲ˛;;Ϲ

EXCHANGE RATE N306.90/1US DOLLAR* ĚŠ

Quick Takes FBNInsurance Settles N5.4bn Claims

FBNInsuranceLimitedsaiditpaidoutN5.4billionclaimstoitsclients at the end of the third quarter 2019. The Managing Director/ Chief Executive OďŹƒcer of FBNInsurance, Mr.Val Ojumah, said the focus of the company was to maintain the indisputable leadership position in the life insurance sub-sector by paying claims promptly and at the same time protect the interest of its various corporate and individual clients. “Ours is a business of trust and as part of our eorts geared towards maintaining leadership position in the life insurance sub-sector, we have built a solid foundation where our clients can insure their trust by promptly paying their claims. “We have also deepened our footprints across Nigeria in our quest to serving our customers and shareholders even better than we have done in previous years. “Customer satisfaction is the fulcrum of insurance business and this inevitably builds customer loyalty and we will not fail to ensure this. We believe once FBNInsurance is able to pay customers’ claims as they arise, numerous customers and the general public will have faith to take up more life policies because they are convinced that should a claim/loss arise, FBNInsurance will be able to meet its ďŹ nancial obligations to them,â€? he added.

Guinea Insurance to Raise N8bn

BUSINESS EXPANSION

L-R: Head, Distribution and Channels Union Bank, Lola Cardoso; Chief Executive Officer, Emeka Emuwa; Commissioner for Science andTechnology, LagosState,Mr.HakeemFahm;Head,CorporateCommunicationsandMarketingUnionBank,OgochukwuEkezie-Ekaidem,andHead,Servicesand Technology Union Bank, Nath Ude, at the launch of the bank’s new branch in Lekki, Lagos‌recently ETOPUKUTT

ExpertCallsforCreative ApproachinProjectFinancing Ugo Aliogo The Executive Vice Chairman of the Ibadan School of Government and Public Policy, Prof. Tunji Olaopa, has called for more creative approach in project financing for capital projects in order to improve the huge infrastructure deficit in the country. He also stated that the country’s Gross Domestic Product (GDP) growth rate which 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 percent in the preceding quarter, was a measure of economic stability. According to him, the expansion in the GDP showed the economy was moving farther from the recession point.

ECONOMY Olaopa, who disclosed this in Lagos, during the Annual Strategists’ Dinner with the theme: ‘Role of Strategy in Forging National Cohesion organised by Institute of Strategic Management Nigeria (ISMN), said there have been a lot of significant improvement in the areas of infrastructure development. Olaopa further noted that the elements of the growth are the parameters in the Sustainability Development Goal (SDG) such as the number of school enrolment, the number of Out of School Children. He added that the real element of the growth was infrastructure, saying there was need to examine

to the extent to which investment in infrastructure was propelling greater investments that enhance capacity utilisation in economy, and minimise capital flights, “overall, what we have had is a very linear growth given the challenges we have faced.� According to him, “The power sector is yet to resolve some basic elements that are critical. But what is important is that there is a spirited effort, so what we need is an enhanced policy intelligence to do a bit more analytics which the National Economic Team is a response to. “What we have seen is that there is a lot of crude economics that needs to be refined; I think the government recognises that and the caliber of people that have been brought onboard. Government needs to be creative

in project financing because there is a limit to how far the current approach can go. “There are so many ways by which the country can grow, we are not harnessing Public Private Partnership (PPP) enough, then I think there are a whole lot of legislative hindrances that could prevent the right kind of capital to be attracted. “There is a kind of push and pull approach whereas the economy of the country is improving, we need to do a lot more in tackling security because we need a lot of foreign direct investment which has something to do with the quality of human capital. “We have a lot of highly educated people, but without Continued on page 24

Currency-in-circulation Hits N2trn Currency-in-circulation on month-on-month basis fell by 0.7 per cent to N2.00 trillion at the end of September 2019, in contrast to the growth of 0.8 per cent at the end of the preceding month. The Central Bank of Nigeria (CBN) revealed this in its economic report for October 2019. The development, relative to the preceding month, reflected the fall in both its currency outside banks and demand deposit components. According to the report, on month-on-month basis, deposits of banks and the private sector with the CBN rose, while deposits of the federal government with

ECONOMY the CBN declined, relative to the levels at the end of the preceding month. It stated that overall, aggregate deposit, at the CBN, declined by 1.7 per cent to N13.847 trillion at the end of September 2019. “Of the total deposits at the CBN, the shares of the federal government, banks and the private sector were 43 per cent, 36.1 per cent and 20.9 per cent, respectively. “Reserve money rose by 0.3 per cent to N7,000.3 billion at end-September 2019. The upward movement in reserve

money reflected, mainly, the 0.7 per cent increase in deposits of banks with the CBN. “Aggregate credit to the domestic economy (net), on month-on-month basis, grew by 4.8 per cent to N35,918.2 billion at end-September 2019, compared with the growth of 2.5 per cent and 7.0 per cent at the end of the preceding month and the corresponding period of 2018, respectively. “The development was attributed to the respective increase of 10.6 per cent and 2.6 per cent in net claims on the Federal Government and claims on the private sector,� the report explained. Relative to the level at the end

of December 2018, aggregate credit to the domestic economy (net), rose by 30.3 per cent, compared with the growth of 24.3 per cent and 1.9 per cent at the end of August 2019 and the corresponding period of 2018, respectively. Furthermore, the report noted that net claims on the federal government, on month-on-month basis, grew by 10.6 per cent to N10.452 trillion at the end of September 2019, compared with the growth of 3.4 per cent and 54.9 per cent at the end of August 2019 and the corresponding period of 2018, Continued on page 24

GuineaInsuranceplchassecuredshareholders’approvaltoincrease the company’s operating capital to N12 billion, from the present level of N4 billion. The company said it intends to achieve this through the sale of 16 billion ordinary shares of 50 kobo each to the existing shareholders.The company’s Chairman, Godson Ugochukwu at the 61st Annual General Meeting of the company held recently in Uyo, AkwaIbomsaid,“theapproval,asgivenbyourperceptiveshareholders, brings to the table, penetrating insights and sustainable fair shakes that will bolster our get-up-and-go capital structure re-organisation action plans. “Options available to us are either to: approach the capital market by way of a public oer, private placements, rights issue, book building process or other methods; inject funds into the company or consider the possibility of a merger with another company operating in the general insurance business portfolio. “In any case, the board had engaged the services of professional parties and advisors to provide matter-of-fact counsel that will engender accuracy and timely decision making especially, as we are materially mindful of the stipulated time frame given by the regulator.â€?

ITFC, Afreximbank Seal $100m Deal

TheInternationalIslamicTradeFinanceCorporation(ITFC)hassigned an agreement to provide a $100-million credit facility to the African Export-Import Bank (Afreximbank) to promote Arab-Africa trade andinvestments. ThesigningceremonytookplaceattheAfrica2019: Investment in Africa Forum recently, with Afreximbank President Prof. Benedict Oramah and ITFC CEO Hani Sombol signing on behalf oftheirtwoorganisationsinthepresenceofEgyptianPrimeMinister Mostafa Madbouly and Minister of Investment and International Cooperation Dr. Sahar Nasr.The agreement states that the facility would help ďŹ nance and de-risk trade ows between the Arab and Africa regions, thereby raising the level of trade, which currently stands at about $500 million. It will also help in leveraging other Arabian funds in support of Arab investments in Africa. .

MediaReach Unveils mediafacts

MediaReach OMD has unveiled the latest edition of mediafacts book, which it started since 2001 with the objective of organising media information in West and Central Africa region. The latest edition gives an extensive coverage of Nigeria and Ghana in English-speaking markets, as well as Cameroon and Republic of Benin in French-speaking markets and covers 19 markets in West and Central Africa. Media practitioners and companies seeking inroads into the markets in the region are better equipped as they will ďŹ nd the book useful with its in-depth media overview, covering consumption of media, ranking of stations and publications, media investment trends, top categories and advertisers, demographic understanding of consumers. It provides vital information and statisticsaboutmarketsintermsofkeyfactsandeconomicindicators.

“Now that we are actually integrating Africa to have a continental free trade area, what kind of banking and financial system do we really need to be able to move this economy, which is the largest in Africa? The question is what should be the next level for the banking sector?� Former CBN Governor,,

Prof. Chukwuma Soludo

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EXPERT CALLS FOR CREATIVE APPROACH IN PROJECT FINANCING

Shareholders’TussleHurtDisco’sPerformance

skills. We have inefficient skills especially in the lower level this is why instead of employing our people most of the multinationals bring labourers from other places. I think the approach on employability and rescaling are sufficient enough and there is a need to rethink new strategies. “You cannot be talking about embedding entrepreneurship in a graduate programme; it is far more than that. The nexus between investing in human capital and the growth of the GDP is that it is the level of employment in the economy that determines the purchasing power and the extent to which people can consume goods and pay tax.�

Chineme Okafor in Abuja

CURRENCY-INCIRCULATION HITS N2TRN respectively. “The growth in net claims on the federal government reflected the increase in holdings of government securities by the Central Bank of Nigeria. Over the level at the end of December 2018, net claims on the federal government rose significantly by 114.8 per cent, compared with the growth of 94.3 per cent at the end of the preceding month. “Relative to the level at endAugust 2019, banking system credit to the private sector rose by 2.6 per cent at end-September 2019, compared with the growth of 2.2 per cent apiece at the end of the preceding month and the corresponding period of 2018. “The development was attributed to the 1.7 per cent and 9.0 per cent increase in claims on the core private sector and claims on the state and local government, respectively. “Over the level at end-December 2018, banking system credit to the private sector grew by 12.1 per cent, compared with the growth of 9.3 per cent and three per cent at the end of the preceding month and the corresponding period of 2018, respectively,� it stated. In addition, the report noted that net foreign assets (NFA) of the banking system, on month-on-month basis, fell by 11.4 per cent to N13.911 trillion at the end of September 2019, compared with the decline of 11.1 per cent at the end of the preceding month.

The operational performances of the Abuja electricity distribution company (AEDC) is now been impacted by the lingering conflict over shareholding structure between its two investors, one of the shareholders has disclosed. The shareholder - CEC Africa Investment Limited (CECA), which claims to be the majority shareholder having reportedly funded the Disco’s acquisition alone in 2013, stated in a statement that its other partner - Xerxes Global Investment - was yet to pay its share of the acquisition expense totaling the $41 million. The statement was signed by the Managing Director of CECA, Mr. Emmanuel Katepa, and sent to THISDAY. In the statement, the investor stated that Xerxes had not shown any capacity to repay the money to CECA six years after the acquisition. Katepa, noted that he was responding to an alleged statement by Xerxes’ Chairman, Mr. Shehu Malami, who was quoted to have said that it was his goodwill that paved the way for CECA to join Xerxes in the Disco’s acquisition. He alleged that even with Malami’s reported goodwill, funding was equally important in business and as such both firms needed to raise money to acquire a 60 per cent of the Disco’s shares. “Xerxes could not but left only CECA to provide funding

for KANN to pay the initial $41 million to the Bureau of Public Enterprises (BPE) and further provided security cover for the $123 million loan KANN took from UBA. “Ambassador Shehu Malami failed to address the central issue which remains that he and his organisation are claiming shares for which they have failed to pay and show no capacity to pay,� Katepa said in the statement. He noted that it was not true that CECA prevented Xerxes

from being signatories to the bank account of the company as claimed by Malami, adding that the minutes of an October 2017 meeting of the board showed otherwise. According to him: “They (Xerxex) were struggling to organise themselves to provide the signatories and we expressed our support. They have not, to this day completed their Know Your Customer (KYC) with the bank. “Just last month, I sent Mr. Malami the entire bank statements from inception –

even when the failure to be a signatory is of his own making. There is nothing to hide and they have as much information as we have access to.� He said despite CECA’s investments and commitments to the Disco, Xerxes was making efforts to unlawfully push it out. “Xerxes should answer the question; did they fund the acquisition? Does goodwill translate to funding? The London Arbitration and the Federal High Court in Abuja all ruled in favour of CECA as

the major investor but Malami is frustrating the enforcement of our rights as the core investor in AEDC. “This is bad in promoting President Muhammadu Buhari’s ‘Ease of Doing Business in Nigeria’. It will also scare off investors from the power sector at a time when the sector needs so much Foreign Direct Investments (FDI) to provide increased, stable and constant electricity supply to the yearnings of Nigerians,� added Katepa.

PROMOTING SMES

L-R: Ondo/Ekiti Retail Cluster Head, Wema Bank, Kolawole Mustaphak; Ekiti Zonal Manager, Damilola Edewusi; Representative of Ekiti State Governor and Commissioner for Investment, Trade and Industry, Chief David Olusoga; Business Development Manager, Wema Bank, Oluwaseun Oke, and Director General, Microfinance and Enterprise Development, Ekiti, Kayode Fasae, during the Agribusiness Small, Medium Enterprise Investment Scheme held in Ekiti‌recently

BUA Targets 200,000 Tonnes of Refined Sugar in Kwara Hammed Shittu in Ilorin The Chairman/Chief Executive Officer, BUA Group of Companies, Alhaji Abdulsamad Rabiu has hinted that the planned sugar plantation and refinery in Lafiaji, in Edu local government council area of Kwara state is capable of producing over 200,000 tonnes of refined sugar and generate over 10,000 direct employments opportunities for the people of the country. He also said the project would generate 200,000 litres of ethanol and 35 megawatts of power - using the bye product of sugarcane. Rabiu stated this in Lafiaji, Kwara State on Monday, when he led the state governor, Alhaji

Abdulrahman Abdulrasaq on facility tour of the multi-billionnaira BUA Sugar refinery company. He said that, “the sugar plantation in Lafiagi and the refinery is one of the most advanced anywhere in the world with the capacity to produce 14,000 tonnes of canes per day when completed. “Kwara State is one of the states with land, water and climate and we set up our business here because we know sugar refining will succeed here.� He added that, “Instead of importing raw sugar and process it in Nigeria, we decided to establish sugar plantation and refinery in Nigeria and

Kwara State happens to be the best located state for the investment. “When completed, it will generate over 10,000 direct employments and produce over 200,000 tonnes of refined sugar together with 200,000 litres of ethanol and 35 megawatts of power - using the bye product of sugarcane.� Rabiu praised the effort of the state in attracting investments, saying, “this is the only sugar plant in Nigeria with plantation and refinery and will be completed by the end 2020.� Responding, the state governor, Alhaji Abdulrasaq said the state would support the upcoming BUA Sugar Factory

and other investors in the state to succeed by creating the right environment. AbdulRazaq said the strategies to attract and keep investors in Kwara would include sustaining the state’s peaceful environment and putting in place the necessary infrastructure and policies to ease the business climate. He commended the BUA Group for citing the sugar plant in Lafiagi, saying the facility would make the local government the richest in the north central. He said, “BUA today is the biggest investor in North Central Nigeria and we are happy that their investment is in Kwara State. I am in fact

happy that it is in Lafiagi, Edu Local Government.� He said the plant would produce about 25 per cent of Nigeria’s sugar need when it begins operation later next year and 75 per cent of the country’s sugar needs in the next 10 years. “Kwara wants to be the epicentre of sugar production in Nigeria and we are creating a peaceful environment for business to thrive,� AbdulRazaq said. He added that such investments would cut poverty rate and strengthen Kwara’s capacity to achieve the United Nations Sustainable Development Goals since the issues of water and electricity would be tackled once the factory begins operation.

Foundation Offers Budding Entrepreneurs $10,000 Grant Group Business Editor

ĂŒĂ“Ă˜Ă˜Ă‹ Ă’Ă“Ă—Ă‹ Capital Market Editor

ÙÎÎã Ă‘Ă?Ă˜Ă? Comms/e-Business Editor

Ă—Ă—Ă‹ Ă•Ă™Ă˜Ă”Ă“ Senior Correspondent

Ă‹Ă’Ă?Ă?Ă— Ă•Ă“Ă˜Ă‘ĂŒĂ™Ă–Ă&#x; (Advertising) Correspondents

Ă’Ă“Ă˜Ă?ĂŽĂ&#x; äĂ? (Aviation) ĂœĂ™Ă—Ă™Ă?Ă?Ă–Ă? ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜ (Maritime) Ă‹Ă—Ă?Ă? Ă—Ă?ÔÙ (Finance) ĂŒĂ?ĂœĂ? åÙÔÓ (Insurance) Ă’Ă“Ă˜Ă?Ă—Ă? Ă•Ă‹Ă?Ă™Ăœ Ě™(Energy) Reporters

Ă&#x;Ă—Ă? Ă•Ă?Ă‘Ă’Ă? (Money Market) Ă™Ă?Ă‹ Ă–Ă?Ă•Ă’Ă&#x;ÙÑÓĂ? (ICT)

Raheem Akingbolu Determined to produce new set of entrepreneurs in Africa, Felix King Foundation has unveiled a new initiative tagged, ‘The Startups Africa’ that will groom and reward young and vibrant African youths with great entrepreneurial ideas with $10,000 startup grant. From inception, the Foundation had launched several empowerment initiatives such Market Moni, WeProgress, WIFARM and Woman Cooperative to empower rural women and widows. The launch of ‘The Startups Africa’ in partnership with

Trinity International University of Ambassadors, Georgia, has added fillip to the already existing programmes launched to alleviate poverty, empower trade and provide employment. Speaking at the launch event, the Founder, Felix King Foundation, Dr. Felix King said, “I strongly believe in the ability of young Africans to birth the innovative business ideas that can change the world for the better.� He added, “We are willing to provide the help and support needed to actualise this. I have always believed that if you are a billionaire and all you think about is your immediate family;

how your children would attend the best schools, ride the best cars, live in the best of luxuries without a thought on how to lift others, then you are a poor person in your soul. “We are not in this project because we have a surplus. On the contrary, we are driven by our conviction and belief in the saying that “we can only rise by lifting others. Africa can only be great when we lend the hand to lift one another,� he emphasised. Explaining how the new initiative with turn out, the Founder of the Foundation said, “Today, we are formally

announcing our initiative to potentially give a $10,000 grant to the best revolutionary business idea. What you need to do to partake is, go to the Foundation website and summit your pitch with not more than 500 words about your business idea,� adding that “If your ideas is unique you are qualified to be selected for the final event in Lagos.� He said Nigeria was challenged in so many fronts and the most dangerous of the challenges has been the inability of a vast majority of the populace to be economically relevant. “Talent and skills abound

in this country. With a strong population made up of 65 percent young and able people, Nigeria should be a bustling beehive of thriving businesses and innovations. “It is important to emphasise the importance of evolving a homegrown solution to our entrepreneurial challenges. As an African with global exposure, I have a strong conviction that we don’t need the world to help us; only Africans can help develop Africa and we need to start by empowering our women in the rural communities and our teaming talented youthful population with entrepreneurial dreams.�

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Ovia, Others for Zenith Bank Tech Fair The Zenith Tech Fair is to hold in Lagos, today. Some of the dignitaries and industry experts expected at the event include the Founder and Chairman, Zenith Bank Plc, Mr. Jim Ovia; Country Director, Google Nigeria, Juliet Ehimuan-Chiazor; Country Manager, Microsoft Nigeria, Akin Binuso; Managing Director, Huawei Technologies Nigeria, Eric Zhang; and Country Managing Director, Oracle Nigeria, Adebayo Sanni; amongst others. Themed: ‘Future Forward,’ and powered by Zenith Bank Plc, the event is expected to cover conversations and exhibitions in emerging technologies, as well as a Hackathon to identify and finance innovative startups. According to a statement, conceived in the mould of global technological events such as the CES and EmTech Asia, the fair would showcase

leading technology innovations that cut across different aspects of life such as Artificial Intelligence, Quantum Computing, Machine Learning, Blockchain, Robotics, Big Data, FinTech, Augmented Reality, Data Analytics, 5G and Communication Technologies, among others. Speaking on the initiative, the Group Managing Director/Chief Executive, Mr. Ebenezer Onyeagwu noted that the event was part of the bank’s efforts to align and key into new technologies that provide innovative solutions to customers’ numerous financial challenges. According to him, “In today’s fast-changing world, we know that our customers need to perform easy, fast and secure financial transactions, wherever, whenever and however. So we need to go ‘future forward’ to provide banking services using cutting-edge

technologies and seamless processes in the best interest of our customers.� The discussions and seminars would be supported by four supersessions /Master Classes to drill down and offer participants a hands-on experience with the technologies. The event would be hosted by Ovia, who would also speak on “Catalysing Disruptive Innovation through Youth Empowerment,� as part of his efforts through the Jim Ovia Foundation to empower the Nigerian Youths through ICT. The lineup of exhibitors include Google, Oracle, IBM, Microsoft, Visa, HP, Apple, Mercedes, and many others. The exhibitors will be showcasing some of their most innovative solutions to the Nigeria public. No fewer than 2, 000 participants, 50 exhibitors, and 400 developers have signed up to attend the Conference and Hackathon.

Verve International Partners TVIO Solutions Sunday Okobi Verve International, one of the leading payments technology and Interswitch’s card business in Africa, has signed a collaborative agreement with TVIO Solutions, a strategic marketing and sales promotion agency, that develops and manages Jollofrewards.com Jollofrewards.com, according to both firms, is an online rewards platform that enables organisations to reward loyalty, acquire and retain customers. According to a statement made available to THISDAY, the CEO of Verve International Mr. Mike Ogbalu, commended the team at TVIO for such ingenuity. “It has been creatively crafted to reward the insured based on the premium paid. The platform provides various travel, leisure and lifestyle incentives that includes free flights, free spa treatment, free hotel stay, free cinema tickets, free airtime, free fuel vouchers among

others,� he said. Ogbalu noted in the statement that the rewards initiative was in line with their organisational objective of rewarding Verve card holders. He stated that through the partnership, Verve card holders would be entitled to free travel leisure and lifestyle incentives when they use their Verve card to buy or renew their insurance policies through partnering brokers. In his response, the CEO of TVIO Group, Mr. Dominic Essien, said his firm was ere excited about the opportunity to partner a successful indigenous card scheme like Verve. Another partnering brokerage firm, Messer J. Akin George and Co. Limited, who was represented by their Chief Operating Officer, Dr. Ayodeji Johnson, considered the initiative a welcome one, saying it would help to deepen market penetration in the insurance industry. He considered the 1.9million insurance policies in circulation out of 190million

population in Nigeria as too low. “Initiatives such as this will definitely cause a push in insurance sales and deepen penetration,� he added. Also, Head of Partnerships and Alliances at TVIO Solutions, Ms. Dolapo Fadeyibi, expressed excitement at the, “huge acceptability of the product by customers,� adding that “customers are free to choose any policy from any insurance company’s existing bouquet on offer through the Jollof platform.� Some of the notable brokerage firms in the consortium include J. Akin George & Limited, Stanbic Insurance Brokers, Epicure Insurance brokers among others. On the partnership, Ogbalu added that, “more so, this partnership further consolidates our service footprint across the Nigerian and African financial ecosystem and guarantees that more customers would enjoy the benefits that accrue from using a Verve card.�

Chi Limited Introduces New Product Chi Limited has introduced a new product to the Hollandia Family – the Hollandia Lactose Free Easy-to-Digest Milk, a ready-to-drink (RTD) lactose free milk. Research has shown that majority of Nigerians are lactose intolerant and are unable to digest lactose present in milk. This gives rise to symptoms varying from bloating to flatulence, nausea, cramps, diarrhea, and stooling. Most consumers may not connect these symptoms with lactose intolerance since the awareness is low. For those who are aware, they may stop taking milk, thereby losing out on all the benefits of milk, such as calcium, proteins and vitamins. Therefore, a statement explained that as part of Chi

Limited’s commitment to meet the dairy nutritional needs of consumers, the Hollandia Lactose free easy-to-digest milk was launched. Rather than eliminating milk from their food, consumers can continue to use milk, while enjoying all the nutritional benefits it offers. According to Chi Limited’s Managing Director, Mr. Deepanjan Roy, the availability of Hollandia Lactose Free Easyto-Digest Milk means that all Nigerian consumers would now be able to experience a wholesome healthy experience. “We are pleased to say that everyone can now enjoy the key nutrients found in milk that some would have otherwise missed out on. Hollandia Lactose Free Easy-to-Digest Milk delivers real dairy nutri-

tion, and because it is 100 per cent lactose free, it is easy to digest for those with lactose sensitivities,� he stated. Available in one litreLtr pack size, Hollandia Lactose Free Easy-to-Digest Milk can be purchased at Chi Shoppe, supermarkets and departmental stores, neighborhood kiosks, and markets across Nigeria. Incorporated in 1980, CHI Limited is a market leader in the food and beverage sector in Nigeria. Each of its product offerings within the juice & dairy beverages and snacks categories in which it operates are category benchmarks which are loved for their taste and high nutrition. CHI deploys the most advanced processing and packaging technology in making all its products.

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

When the Least Expected, Surprises You Pleasantly On Saturday, on my way to Victoria Island, via the Lekki Toll Gate, I was stopped by a police man. What happened? I had changed cars that morning and thinking it was my normal car, I asked my driver to pass the e-tag lane, only to be diverted. My driver had to come down from the car to remove the barriers and we moved to the main lane. In view of the fact that we had moved the barrier and had not moved, because we realized that none of us in the car carried cash, we were confused about how to proceed. We then saw a police man approaching us. He got to us and asked, what the problem was? We told him. He said, “Go ahead and pay�. We said, we had no cash, could we use POS? He said no and dipped his hand in his pocket and gave us the money to pay for our toll. I was amazed! A Nigerian police man giving you money to help you. Not harassing nor taking money from you. This was unprecedented in my view. Never hear, nor seen such a thing. He was so kind and gracious. I then took his picture and gave him a shout out on my social media platforms. The responses have been unbelievable and I am sure the posts will go viral. Many are in wonderment about the occurrence and feel hopeful that with pockets of good behavior and governance, Nigeria can and will be better. In addition to the many people who saw the post. Unbeknown to me, the MD of LCC is my friend on Facebook. So, he reached out to me, that the organization would like to commend Monday for his act of compassion and for being a good ambassador of the institution. He wanted me to come on Monday morning to help present the gift to him. This morning, I was honoured to go to their head office to meet with the top management of the organization and to present a gift from LCC and myself to Monday. The posts are still being commented on, on social media with various comments on Monday’s good behavior and LCC’s action in recognizing a good staff. The question is, when a staff has done well in your organization what do you do? Do you behave like our parents (older generation), who find it difficult to recognize good performance. In those days, when you come second, they will ask you, “Who came first? Why was it not you? Or you behave, like I have just done, by giving positive reinforcement to Monday and hoping that this reinforcement will encourage him to continue being honest and compassionate and would be an example to others. Here are some thoughts from John Waldman, CEO of Homebase and I. Match the Praise to the Effort Employees who go above and beyond may warrant some extra recognition. As Meghan M. Biro said in Forbes, “Recognition should match effort and results, or it loses meaning.� An employee who manages a difficult customer with tact and grace may warrant a quick, “Hey, good job!� from a manager on duty. Just like Monday Oyama’s praise from his employers and myself. Matching the praise to the scale of effort helps reinforce your employees’ desires to go above and beyond for your organization.

Write a Sincere Thank-You Note This old-school method of praise still makes a great impact, “saying thanks about something specific may be the ultimate reward.� It is an authentic gesture your employee will probably remember for a long time, and it also emphasizes you notice and appreciate their efforts. In the era when you and your team probably communicate by text or chat features most often, receiving a thoughtful hand-written note feels extra-special. 4. Go Public Some public praise will probably be well received like I did on social media and during today’s meeting will likely make a good impact on morale. It also sends the message to the rest of your employees that you notice and appreciate extra efforts. Give Mini-Gifts Even a small token of your appreciation may go a long way, like was done today. It’s a simple way to reinforce good behavior and make sure your employees know their extra efforts are not in vain. Go ‘Behind The Scenes’ If you have employees who do a lot of great work ‘behind the scenes,’ then make time to showcase their good work. Be Surprising Sure, everyone gets accustomed to ‘Employee of the Month’ awards, but an unexpected praise is usually more impactful. It’s like a surprise present for being a great employee. “Birthday presents are nice, but unexpected gifts make an even bigger impact. Unexpected recognition is always more powerful, too. It does not have to be anything big. Award Special Assignments Sometimes more responsibility is the best reward for star employees. A piece from the University at Buffalo suggests managers give special assignments to employees who show great initiative. While it may seem strange to reward good workers with more work, chances are they will appreciate your confidence in their abilities. Another easy way to show your appreciation is through preferential employee scheduling. Some employees may value flexibility. Give them the option to trade shifts and update their availabilities with a minimal amount of notice. Other employees may prefer stability over flexibility — especially if they have a family. For them, publishing their schedules weeks in advance will add a little predictability to their lives and their pay. Be Specific Thanking your employees for specific tasks is another good habit you should start practicing. Don’t just say ‘thanks for all you do.’ Explain why you’re appreciative. This allows for employees to revisit their triumph and makes it clear what types of value-driven behavior fuel recognition. Overall, recognizing your employees’ hard work is not just good for morals: it’s been proven to help businesses run more smoothly and aids employee retention, which in turn makes the bottom line healthy. . Marie-Therese Phido is a Sales & Mareting Strategist and Business Coach Email:mphido@elevato.com.ng Tweeter handle@osat2012 Tel: 08090158156 (text only)

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BUSINESSWORLD

ANALYSIS

Boosting Nigeria’s Capital Market Competitiveness Goddy Egene writes that the outcome of the 23rd annual conference of the Chartered Institute of Stockbrokers will boost the competitiveness of the nation’s capital market if implemented The capital market facilitates the movement of funds from surplus end to the deficit side. In other words, the market facilitates to transfer of capital from those who have it but do not need it at the moment, to those who do not have but need it, which is called capital formation. Although the Nigerian capital market has been playing this role over the years, its potential is yet to be fully tapped. While the market has in the past produced one of the top best returns on investments in the past, it has been performing poorly in the past two years. It declined by 17.8 per cent in 2018 and has so far depreciated by over 13 per cent. Whereas market fundamentals are attractive, macro-economic challenges have had their negative impact on the performance. This has affected its competitiveness In order to make the market attract more patronage and enable it play its role of capital formation adequately, the Chartered Institute of Stockbrokers (CIS) last week discussed ways to make this happen at its annual conference. The theme of the conference was: “Boosting capital market competitiveness in a challenging macro environment.� Welcoming stakeholders comprising operators, regulators, government officials and law makers among others, President of CIS, Mr. Dapo Adekoje, said theme of the conference was carefully selected to challenge their intellects in coming up with practical ideas that would trigger a quantum leap in the performance of the Nigerian economy. According to him, the institute in collaboration with other stakeholders was working out and executing various strategic actions to bring stability to our capital market, improve the national economy, and ultimately make the business more rewarding. “The CIS operates organic layers of corporate governance structure. At the apex is the Board of Fellows which comprises the past presidents, followed by the governing council, and then the management. All these groups mentioned have been very busy working out and executing various strategic actions to bring stability to our capital market, improve the national economy, and ultimately make the business more rewarding for our members,� he said. The CIS boss explained that contrary to the wrong impression that stockbrokers are only stock traders, stockbrokers worldwide are trained and recognised as the primary and most reliable experts in all areas of securities and investment business. “CIS members today are practicing in the United States of America, in Europe, and, within Nigeria, in diverse sectors like government, banking, oil & gas and in the academics, just to mention a few. Of course, the stock exchange platform remains our forte and will always be,� he said. Adekoje disclosed that CIS is recognised by their counterparts worldwide, noting that working agreements with the Chartered Institute for Securities & Investment, United Kingdom and the Association of Certified International Investment Analysts (ACIIA) ensure that their members can practice in 35 countries in the world. Lawmakers’ support One of the factors that have affected the poor performance of the market is some legislations and policies that have inhibited flow into the market. But going by the outcome of the conference, there is ray of hope as law makers who were presented pledged their support for the development of the market. For instance, the Chairman, House of Representatives Capital Market and Institutions Committee, Hon. Babangida Ibrahim, said the legislators 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.

L-R : Second Vice President, Nigeria Stock Exchange(NSE), Catherine Echeozo; President, Chartered Institute of Stockbrokers (CIS) Mr. Dapo Adekoje; Chairman, House Committee on Capital Market, Mr. Babangida Ibrahim; former Director-General, NSE, Ndi Okereke-Onyiuke; and Director, Federal Ministry of Industry, Trade and Investment, Mr. Francis Alaneme and First Vice President, CIS, Mr. Tunde Amolegbe at the 23rd annual conference of CIS in Lagos. Speaking in the same vein, 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 emphasized 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 incentivize 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. Getting, retaining right talents A very pertinent reason clients patronise a business is the presence of quality talents that render quality services. This is why the issue of getting and retaining the right talents in the nation’s capital market was discussed at the conference. The Group Managing Director of Meristem Securities Limited, Mr. Wole Abegunde, who is also a stockbroker, made a detailed presentation on how to boost talents in the market. According to him, a talent is an employee who meets performance expectations at his/her current job as well as, demonstrates the potential to perform at the next level to drive organizational/ business growth. He said attracting talented individuals is critical to an business success especially in the digital age. “It is no longer business as usual when it comes to finding and retaining the right talent. The identification, attraction, development and retention of individuals who are of particular value to the industry is key. This is in view of their high potential for the future of the Industry. Every business wants to keep great talents to stay ahead of competition,� Abegunde said. Speaking on the qualities of great talents, he said they include: intellectually smart; reliable; trustworthy; royal to the brand;committed to the organisation’s vision; versatile as a result of their high potential and one who has the potential to attain leadership position the industry. “In summary, talents are the 20 per cent who contribute 80 per cent to the business. Other employees have their place, but organisations must do their best to retain great talents,� he said. Justifying the need to attract talents, he said great talents are scarce (educational system) and

in high demand. “Competition is higher for skills that are required across various industries, such as accountants, Human Resources, hence they are highly mobile. Talents bring onboard innovative ideas that differentiates a company from competition. Talents have choices as competition has become global as a result of brain drain. Countries like Canada, Australia, New Zealand source skills from Sub-Saharan Africa,� Abegunde said. In as much as attracting talents is a major factor that can boost the competitiveness of the market, he said the way they conduct their selves as individual stockbrokers and organisations determines the brand of the industry and either attract or repel talents. “If we conduct our business with prestige, respect and candor it will naturally attract talents. Organisations must endeavor to offer good emoluments and condition of service.The ambience of our offices cannot be discountenanced,� he said. Considering the challenging environment, very few young talents may be eyiung the market at present. But Abegunde gave some tips on how to attract them to the market. According to him, investment and capital market should be part of educational curriculum from primary to tertiary institutions. He also noted that CIS must look at offering scholarships and also organise national investment competitions in educational institutions. He cited talent attraction strategies to include: building talents from within the organisation through graduate trainee programme; head hunting (lateral hires); using third party recruitment firms; employee referrals and incentives and social media. He explained that while attracting talents is the beginning, retaining those talents is a major task. “The ability of an industry/organisation to retain great talents starts from the recruitment process hence, it is important that organisations get it right by building an prestigious and attractive industry/ employer brand that piques the interest of talents to want to work in the securities industry. Organisations must use the right tools in the selection process. This would include: psychometric testing, ability tests, interviews, assessment centres etcetera;assessing both technical knowledge and behavioral competencies during the recruitment process; ensuring that potential hires are culture fit and their personal values align with the industry values; communicating your employee value proposition. That is, what is in it for the talent through your website and on your social media channels; training hiring managers on how to identify talents; creating a great experience for potential talents all through the recruitment process,� he said. Abegunde said there are specific skillsets in tehe securities market which include: portfolio managers; stockbrokers; investment advisors; financial advisors;research analysts; insurance companies; pension fund administrators(PFAs); asset management companies; private equity companies and consulting firms. “In the digital age, skills are transferable. Example, a stockbroker in a stockbroking firm can use his/ her skill set in a PFA. When thinking about a career change, people always leverage their transferable/ portable skills,� he said.

The stockbroker said having attracted the right talent to the industry, there is the need to understand the workplace generation for effective retention of such talents. “There are five generations in the workplace of today. Managing across these generations and striking a balance poses a challenge in the modern workplace. Surprisingly, this one pain point affects a multitude of dimensions within an organisation. Such as the company’s effectiveness, recruitment, retention, turnover, and compensation just to name a few. Each generation has distinct personalities and individuals within each generation share a significant number of attributes.It is important to understand each generation in the workplace so as to leverage on what appeals to them in order to build an effective retention strategy,� he said. Giving some strategies to retain talents across all generations, Abegunde said there should be an attractive employer brand, structured organization; employee appreciation programs. “Create trust so that employees become true brand ambassadors. Work life balance, flexi-work opportunity especially for digital natives. Communicate clear career path and growth opportunities, assign mentors & coaches to young employee and for baby boomers reverse mentoring. Create a fun and engaging work environment. Such as TGIF moments, music, nap rooms, collaborative work culture. Effective performance management system that incorporates setting SMART goals, regular performance feedback and transparent appraisal process. Communicate and deliver on your employee value proposition not only to prospective applicant also to current employees. Provide opportunities for training and development.Career development through job rotation & redeployment opportunities. Strengthen manager/employee relationship,good reward & recognition schemes,� he said. The stockbroker said talent management programmes help organisations to identify and retain staff with high performance and potential. “These programmes help to accelerate the development of these set of people. Incentives/ reward programs are developed to ensure their retention. The talents become potential successors in the organisation’s succession plan and they feel a sense of belonging and commitment to the organisation. Other privileges and incentives can be designed to constantly engage these set of people so that they remain in the organisation. Additional pay over and above all, off-shore trainings, special assignments, signatory to company accounts, culture & brand champions, mentors & coaches to other staff within the company, buddies to new hires. The talent management program must be attractive to non-talents to aspire to become a part of the talent pool,� he added. Abegunde stressed that the world is now a global village and people generally want to live in countries where systems work. “What we can do is to ensure we maximize the value that talents bring in their stay in the organisation and create a conducive environment and experience that helps us harness their full potential for the overall growth of all stakeholders,� he stated.

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Marland: Investment Opportunities in Nigeria are Limitless The Chairman of the Commonwealth Enterprises and Investment Council, Jonathan Marland, in this interview commended efforts by the federal government to improve the quality of infrastructure in the country. Obinna Chima brings the excerpts: What is the purpose of your visit to Nigeria? I am here in Nigeria to continue our efforts to promote trade within the Commonwealth, working with about 20 Nigerian partners some of the top businesses here and some of the states in Nigeria. We are planning the next Commonwealth Business Forum, which will take place in Rwanda and so we are looking at how we can involve Nigeria in the forum and make available networking opportunities. We are also looking at how we can help the Nigerian government and how we can develop some of the projects they are engaged in with a view to boosting investments in Nigeria. What sectors of the economy are you looking at? We are looking beyond oil and gas. Yes, we have members who are into oil and gas, but we are helping the Nigerian economy to diversify into other areas. We are also developing and working with Nigerian banks, medium-sized enterprises in helping them to develop a trade network.

people who are operating together. Nigeria is probably our strongest foothold in the Commonwealth.

Is the CWEIC bringing in investment and what exactly are you looking at? There are a lot of schemes that we would like to work with, particularly in the construction area, and if there are investment opportunities, we would work with them. Nigeria is a very big country and has a big economy, which is attractive. The CWEIC creates enterprise, investment opportunities and brings people together in a giant global network. The Commonwealth is the third of the world’s population and within it are Nigeria and other countries. So, if you could bring them together, then you have an incredibly powerful trading group, particularly if the common theme is English – which means that you do not need to translate. We have people working and have invested heavily in Nigeria and so this means that we have a common bond through the language (English) which includes 53 other countries.

Have your targets or objectives for 2019 been met? What is the CWEIC seeking to achieve in 2020? I would say if you are dealing with 53 countries, you would have some targets met and some not met. But on the whole, we are a much organised association and we have been going on for five years and so our network is increasing alongside our membership. We have met our targets but we have not been able to make enough traction with the Nigerian government as we would have liked to develop several programmes. Next year, we will have our African conference in January. We will then move to Saudi Arabia in March and then head to the India summit in the springtime, hopefully. We will be in Rwanda in June and keep moving around.

Beyond talks with member partners, do you have any discussion with the Nigerian government to support infrastructure development? We discussed with the Nigerian government and we are open to dialogue with the Akwa Ibom State and Lagos State governments and we look forward to many more joining our membership. We are hoping to have discussions with other state governments. I think one of the interesting things is how we as a network can encourage the government to continue to adopt a positive approach to business. Nigeria is looking for investors. What has to be done to attract more investments? Part of what we do is to allow the governments to showcase what is going on in their countries and so we will continue to encourage the Nigerian government as well as the state governments to start using investment opportunity programmes, which

Which countries, in your view, are interested in investing in Nigeria? India, the United Kingdom and Singapore are some of the countries that want to invest because Nigeria is a growing population with abundant opportunities, and the country is improving on its infrastructure. Therefore, most Commonwealth countries are much interested in investing. Nigeria is interested in developing its agricultural sector. Do you see investment opportunities there? We have not been approached by the Nigerian government to discuss how we can develop an agricultural programme. This is the sort of thing we do for our members and if they wish to talk about that, they know we are very happy to engage the government and state governments but they have to sort of come to the party.

Marland they can offer to international investors. You have got the airport and roads here in Lagos and these are obviously down to development plans. It is encouraging that the Nigerian government is investing in infrastructure projects. The potential is huge. I was talking with an investor recently, with a huge project in Abuja worth $3.5bn and he is looking for investors. What we do not do is bring investors. We are not a bank or a finance house but what we do is bring people together who might do it and allow them to work. We are a network organisation plugging into a very big network organisation. We bring potential investors together across the globe. In your assessment of Nigeria’s business environment, what would you tell investors about the country? The opportunities in Nigeria are huge and 10 years from now, the country will have a bigger population than the United States of America. There are many natural entrepreneurs in Nigeria. So there is the basis for Nigeria becoming this extraordinary partner but it will require infrastructure, which the current government is embarking upon. It needs much more effective business practices, and when you have that, you have greater investment;

people are worried about corruption and the employment of the rule of law. Every investor wants to know if their investment will be secured; they want to know if they get into any dispute how the rule of law is enforced. There is fundamental rule of law in Nigeria that underlines the business practice. I see Nigeria starting to do all that, which is a good thing. You would be going to another West African nation, Ghana; what would the CWEIC be doing there? It is actually my first trip to Ghana and I would be holding talks with the President of Ghana, the trade and commerce groups and individual companies as well as the minister of Foreign Affairs and International Trade. Certainly, it is a mixture of business and politics. Are you seeking to set up an office in Ghana as well? It is my first visit and obviously we will like to have offices in every commonwealth country but we can only do what we can manage. What we can do in Nigeria is to manage an office here and we have got nearly 20 members; that might increase. We have a separate board here and a group of

Can you talk about your partnership with Nigerian banks? We work with Zenith Bank. We do not have any other banks per se as members and we have a very good relationship with the city of London as our strategic partner and other major banks in the UK. Every country needs more banks because access to finance is very important for the economy of any country, no matter how small or large their population might be. What kind of reforms will you advise the present administration to look into in order to drive investment? I think that the anti-corruption programmes that the President embarked upon on assuming office is exactly the right thing to do. Investors who want to invest in a country like to see transparency. If there is less transparency, it will lead to less clarity and then you would have less confidence. Investment opportunities in Nigeria are limitless but the key thing Nigeria has to have is a clear message of what the opportunities are and what sort of environment would work for investment and rules of engagement. I think

Heritage Bank Empowers Female Entrepreneurs Heritage Bank Plc has empowered over 2000 female entrepreneurs. In order to achieve this, the bank said it went into partnership with a non-governmental organization, Prime Women Builders Foundation of Nigeria (PWOBFON) in providing skills training to the female entrepreneurs. At the graduation ceremony/ certificate award ceremony held at the Ikeja Local

Government headquarters, the MD/CEO of Heritage Bank, Ifie Sekibo said the bank was keen in cultivating real partnerships with micro, small and medium scale enterprises (MSMEs). Sekibo, who was represented by the Head, Brand Management & Sustainability, Ozena Uturu, explained that the lender was interested in initiatives that encourage people to start their own businesses and gradually

grow them into conglomerates. According to him, the partnership with PWOBFON was vital in many ways particularly in the area of job creation, economic empowerment and financial inclusion. “Apart from skills training, the women have been told the importance of record keeping in business, savings culture and the benefits of having bank accounts as a gateway

to accessing other financial services,� he was quoted to have said in a statement. Also speaking, President/ Convener Prime women Builders Foundation of Nigeria, Kemi Olofinkua, applauded the bank for its support, and urged other corporate organisations to take a cue from the lender in supporting grassroots women empowerment. She explained that through

the support from the Heritage Bank and the Ikeja Local government, the women, based on their choices, have been equipped with 15 vocational skills covering event decoration, small chops making, baking, pastries, bead making, computer training , soap making, makeup, tailoring, digital marketing, Photography, hairdressing among others. To underscore the importance

of women empowerment, the CBN had earlier set aside 60 per cent of its N220 billion MSMED Fund for providing financial services to women. According to Olofinkua, the training was important because when women are positively occupied, the level of poverty will reduce and great achievements will be recorded not only on the home front, but on several sectors of “our national life.�

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Anxiety over NUPENG, PENGASSAN’s Threat With the expiration of the ultimatum issued by the labour unions in the oil and gas industry, for the resolution of the lingering dispute between GE and ARCO Group over the non-payment of terminal benefits, there is anxiety over the inability to resolve the dispute, writes Peter Uzoho Four days have passed since the expiration of the ultimatum by the two main unions in the oil and gas sector, Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), there are still no indications that General Electric International Operations Nigeria (GEION) is moved by the unions’ threat of industrial action. In a letter jointly signed by the General Secretary of PENGASSAN, Lumumba Okugbawa; and the General Secretary of NUPENG, Olawale Afolabi, dated October 28 and addressed to the to the Minister of State for Petroleum Resources, Timipreye Sylva and Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, the unions had said they had reached their wit’s end over the inability of the concerned authorities to resolve the lingering dispute between GEION and ARCO Group Plc over the non-payment of terminal benefits and allowances. The letter dated October 28, 2019, which expired last Friday, November 22, was believed to be causing anxiety in the oil and gas industry with the unions strategising on what steps to take next. The letter, which was also copied to the Minister of Labour and Employment; and the Director General of the Department of State Services (DSS), according to the unions, was consequent upon GEION’s intransigence to resolve the dispute despite of several meetings and agreements for the company to refund taxes illegally deducted from ARCO. “We see the attitude of GEION as an affront and total disrespect to constituted authorities. It is in the light of this that the two unions are giving 14-day ultimatum, with effect from today, Monday, October 28, 2019 to all relevant authorities to compel GEION and any other concerned parties in this matter to do the needful for our members to get their final entitlement paid without further delay. “The patience of our members is at the breaking point as they see their colleagues from ARCO wallowing in deprivation and hardship after tolling for several years due to deliberate ploy of some unscrupulous individuals and organisations to elope with the fruits of their labour,� they said. As the ultimatum expired last Friday, it was unclear at the time of this report what the unions plan to do next, but information available to THISDAY revealed that subtle mobilisations were ongoing to carry out their threats. One insider said: “We don’t know if the unions will eat their words or what NNPC and those copied in the letter plan to do with the expiration of the ultimatum last Friday. “But what is clear is that GEION is not moved, one bit. Can they behave this way in the US, their home country? This is sad.� ARCO had explained to the unions that its inability to pay the benefits and entitlements of some of its members, five of whom have died while waiting, was because of the deliberate refusal of GEION to refund taxes illegally and unilaterally deducted at 10 per cent, instead of the five per cent permitted under the contract. GEION has ignored letters by FIRS that five per cent is the applicable rate. Records indicate that the FIRS had flagged significant discrepancies in remittances made by GEION between 2009 and 2015. After a reconciliation meeting between May 17 and June 21, 2019, for example, the FIRS Chairman, Tunde Fowler, wrote a letter dated August 7, 2019 in which he noted wrongful withholding taxes deducted by GEION amounting to N328,855,903.10 between 2009 and 2015. In the same letter, Fowler also noted that between 2011 and 2015, the dollar differential of withholding taxes wrongfully deducted by GEION was $1,716,976.96. Before then, in a letter dated January 14,

2019, the FIRS had given GEION a seven-day deadline to defray its liabilities or provide evidence of payment. Its letter to GEION with ref: FIRS/SCLI/ARCO/1/2019/14/1, said, “Failure to defray the above liability (225,097.11 euros; $2,626,970.38; N237,443,292.60) or provide evidence of payment within the stipulated time will result enforcement action taken against you.� The figures above do not, however, cover all the illegal deductions disputed by ARCO and for which it has repeatedly presented evidence. Sources close to the company said, for example, that the value of 12 of invoices for which GEION could not provide credit notes in 2014 stood at $563,861.05; and that the dollar value of its wrongful deductions over the years could be as high as $3million, apart from the excess in other currencies. The ultimatum by PENGASSAN and NUPENG came one month after the Ministry of Labour and Employment hosted a second stakeholders’ meeting to settle the long-running dispute. After the meeting on September 24 involving GE and ARCO, also attended by members of PENGASSAN and NUPENG, and the FIRS, it was decided in a letter dated October 4, 2019 signed by a director in the

The patience of our members is at the breaking point as they see their colleagues from ARCO wallowing in deprivation and hardship after tolling for several years due to deliberate ploy of some unscrupulous individuals and organisations to elope with the fruits of their labour

Labour Ministry, Mrs. O.U. Akpan, that, “GEION should within seven days apply to the FIRS and request for the refund of the over-deducted sums paid to FIRS as agreed during the reconciliation exercise.� Akpan also said: “All deductions made by GEION on behalf of Arco substantiated with documentary evidence with the objective of remitting to FIRS, but which were not remitted to FIRS should be refunded to Arco within three weeks.� The seven days had since expired, with GEION remaining defiant. The September 24 meeting was the second hosted by the ministry this year. The first was on May 24. Insiders familiar with the dispute said GEION has been inventing different delay tactics, including using consultants to scuttle or repudiate decisions previously reached and accepted by the parties. “They just feel they are above the law and no one can do them anything,� one source said. This assertion was confirmed when after the meeting, rather than comply, GEION in a dated October 9, 2019 addressed to the Executive Chairman of the FIRS, again asked the revenue service to review its records for details of the withholding tax remittances it made on behalf of ARCO from 2006 to 2008 in naira and dollars in order to enable it close the outstanding balances. It said it did not have information for the years, and was relying on the FIRS to provide it with the details of the taxes it remitted for the period. “As earlier communicated, we do not have information for those years, and we are relying on the FIRS to provide us with the details of the taxes we remitted for the above period,� GEION said. The FIRS on its part, responded with a letter to GEION dated October 17, 2019 wherein it requested it to respect agreement reached with the Federal Ministry of Labour and Employment. The letter signed by Dick Irri read: “I draw your attention to your commitment at the held at the Federal Ministry of Labour and Employment wherein you agreed to make request for refund on behalf of ARCO Group. The agreements are clearly summarsied in the letter by the ministry. “You are therefore requested to immediately respect your commitment by requesting for

refund on behalf of ARCO considering the fact that the time agreed has lapsed.� Nothing has been done since. A group called Coalition for Truth in Nigeria, had published an advertorial in some national newspapers, accusing GEION of using strong-arm tactics against ARCO. The group also accused the FIRS of complicity. An industry source in Nigeria said: “It appears that it’s only in Nigeria that GE thinks it can do what it likes without consequence.� In recent times, GE, its parent company, has been a subject of interest in the international media following sanctions for various infractions. It is against this background that a public affairs analyst, Andrew Osai Eke, is calling on the presidency and the National Assembly to immediately open an inquiry into the case as an opportunity to demonstrate their unwavering resolve to protect all Nigerians, and underlining its preparedness, at all times, to come to protect local investors. “While demanding the urgent, immediate and surgical attention of the presidency to this issue, we call on the National Assembly to immediately open an inquiry into the case as it represents a veritable opportunity for both houses of our national parliament to demonstrate the unwavering resolve of the first arm of government to protect all Nigerians, while underlining its preparedness, at all times, to come to the protection of our own local investors. “Our government and indeed all patriotic Nigerians must now draw a line in the sand indicating our irrevocable opposition to all fraudulent so-called foreign investors as we all, in one accord, proceed to alert Nigerians and the international community to the new reality that while being truly ready for business with the rest of the world, it is no longer business as usual in Nigeria. “Even as patriots, eager for foreign investment in our national economy, we must not equivocate in sounding it loud and clear that we find the conduct of GE, in its dealings with ARCO and its workers to be most disappointing to say the least! Indeed, such arrogant rascality bothering on brazen criminality can only serve to cast GE more in the mold of an international parasite, than a responsible multinational player and respectable global operator.�

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BUSINESSWORLD

INSURANCE

Journey Towards Insurance Recapitalisation As insurance operators count down to the recapitalisation deadline, Ebere Nwoji takes a look at how firms are faring in the exercise Barely seven months to the end of the ongoing insurance sector recapitalisation initiated by the National Insurance Commission(NAICOM), most operators are still struggling to meet the deadline. Indeed, an examination of their level of success so far, showed that only few of the existing firms have advanced in their work plans. These are mainly firms who have foreign parent bodies, few who stand on their own and who have been known to be strong and some others whose majority shareholdings are in the hands of state government. Investigation conducted by THISDAY in this regard indicated that whereas NAICOM has approved the work plan of 44 firms, it has been difficult for most of them to translate these plans into actions that would yield the desired results. It was gathered that investors appear reluctant in committing their funds. This is so because out of firms whose recapitalisation plans have been approved, no less than 80 per cent of them have chosen to raise capital through right issues and initial public offerings (IPOs). Also while they are hoping to go by the way of private placement as suggested by the regulator, the Securities and Exchange Commission (SEC) has warned that such investment in any of the insurance firms should not exceed 30 per cent, just as NAICOM said it has it would ensure that no insurance firm gets its recapitalisation through illicit process. NAICOM, had at an interactive session with shareholders on the recapitalisation update in Lagos, hinted that a total of 44 insurance firms had submitted their recapitalisation plans and had secured approval to proceed with their plans, an improvement from the initial 26 firms it approved. However, the commission, said it had foreseen that most of the firms would run back for a change of their plan because of difficulty in translating their plans into action. NAICOM Director Policy and Regulation, Mr. Pius Agboola, said though most of the 44 firms whose plans had been approved preferred capital raising through right issue and IPO, capital raising through private placement would have been their best option. He said many of them might have to come back to the commission for a review of their plans disclosing that two firms have already come back. According to him, private placement, mergers and acquisition are good ways to go, adding that in the previous exercise which took place between 2005 and 2007, a number of firms that went by the way of mergers were still doing well in the market today. He said only six firms have indicated interest to go into merger but said they are still fine tuning their plans. “Forty-four out of 58 insurance firms have submitted their recapitalisation plans to us and we have okayed their plans. Six recently submitted, we have reviewed and referred them back, two are under review, another two have not submitted mainly because of their current state of operation. “So we can say that 90 percent have submitted and are okay but there is possibility that they will come back for review of their plans because some that went for IPO two have come back for review, private placement is a good way to go also mergers and acquisition, I have seen six firms that have opted for mergers in twos.� Agboola said. He said there are some that may want to borrow money from the bank at 20 per cent interest rate, but that would not be the best option. He said for those going into mergers and other means of fund raising, NAICOM had consulted with other regulators such as the Corporate Affairs Commission, SEC, NSE, CBN for a reduction in the cost of the exercise. Meanwhile, some firms speaking with THISDAY on their level of success so far regarding the recapitalisation sounded very optimistic on their anticipated success. On the fate of Allianz Insurance Nigeria, the Regional Chief Executive Officer, Allianz

Africa Mr. Coenraad Vrolijk, said: “I just want to reiterate and confirm that Allianz will obviously make sure that Allianz in Nigeria conforms to local regulation. We will conform to the regulator’s N18 billion recapitalisation mark for composite companies. “The plan is that Allianz will add the money. We don’t want the shareholders. We have 99.6 percent ownership of Allianz in Nigeria. We will add the money I think we will be somewhere over N18 billion. As you know, these things depend on exchange rate. We will add the money before the account closes for 2019.� For Anchor Insurance, a top official in the company who did not want his name in print said: “We don’t have a problem with that. We will just complete the money before June 2020.You know the state government is there for us so they will just add up the balance so we have no shaking concerning recapitalisation�. Some other companies such as WAPIC Insurance seem not to be looking at the faces of their shareholders as the Chairman, Mr Aigboj Aig-Imoukhuede said he knew how to get the required capital without depending on the existing shareholders alone. Also with current asset base of N30.4 billion, the company seems not to be bothered as the deadline draws closer. Similarly, Custodian and Allied Insurance is one of the firms that may beat the deadline. With its current asset base of N98.1 billion, the company said it was well positioned to weather the storm as the recapitalisation deadline approaches. Other firms such as Leadway Insurance, FBNinsurance, Old Mutual both life and

Forty-four out of 58 insurance ďŹ rms have submitted their recapitalisation plans to us and we have okayed their plans. Six recently submitted, we have reviewed and referred them back, two are under review, another two have not submitted mainly because of their current state of operation

General Insurance, Royal Exchange, AIICO Insurance, INSIA Insurance, NEM among others, are not among those looking at the faces of their shareholders for fund raising. But Consolidated Hallmark Insurance Plc has gotten approval of its shareholders. But there are firms like Niger Insurance, which have very strong assets base but is currently considering capital raising. But both the chairman, Dr Stephen Dike and the Managing Director, Edwin Igbiti are very optimistic that the company would continue to meet the expectations of investors. “It is a new dawn, we want to be sincere with ourselves and that is the fact that it will not be easy but we must get there. Niger Insurance will not die, Niger Insurance is a force to reckon with we have strong reserve that will enable us pay genuine claims, we are looking at customer satisfaction because customer is kin the future is good we might have done something wrong in the past but going forward, we urge you to believe in us again we have brought down every silo, there is no silo in Niger any longer .We will address every customer’s claim but we want our shareholders to support us in all these,� Igbiti said. Guinea Insurance is currently looking for N8 billion capital to beef up its capital as a general business underwriter. Universal Insurance is among those looking at the hands of its shareholders for support to beat the deadline. This does not in any way suggest that others not mentioned in this report cannot make it, available information suggests some are still in serious discussions with their key shareholders for capital injection while some are still combing foreign markets for investors. But while this is on, NAICOM has assured stakeholders that unlike before, it will not allow any operator to meddle with funds raised from the exercise. At the end of last recapitalisation exercise that was between 2005 and 2007, shareholders and staff of a company like Investment and Allied Insurance, had alleged that the executive vice chairman of the company diverted the funds raised for the purpose of recapitalising and running the company. Till date, the company is still under NAICOM’s receivership. Against this back drop, NAICOM, said it would develop a framework that would ensure that funds raised from the recapitalisation exercise are judiciously utilised so that shareholders can have value for their money. Agboola, noted that the commission would make use of an escrow accounts with Central Bank of Nigeria (CBN) in preserving the funds. He assured that prospective investors’ funds must be protected against any future

contingencies. The insurance industry regulator, also maintained that funds raised from investors in the recapitalisation would be refunded, if the companies failed to recapitalise, adding that it would through its oversight function ensure that companies invest the funds raised in the exercise. The NAICOM director said the funds realised from the recapitalisation is expected to help stimulate the accumulation of long-term funds for infrastructural financing, job creation and an improved return on investment (RoI). Agboola, noted that at the end of the exercise, the industry would witness the emergence of a vibrant, viable and active insurance market that would bring about not only an increase in penetration but a substantial increase in the industry’s contribution to Gross Domestic Product (GDP). He said NAICOM would continue to introduce new reforms and initiatives in the march towards achieving the full potential of the industry, stressing that the insurance sector in Nigeria, with a contribution to the nation’s GDP that is less than one per cent, has underperformed its potential especially when compared with other sectors in the financial services industry. A director in the Supervision Department of SEC, Sulaiman Alhassan, had said though Nigeria was looking for direct foreign investment into the economy, its regulation could allow more than 30 per cent investment into any of the insurance firms through private placement. According to him, this is to give Nigerian masses opportunity to invest in the firms. He said any investment through private placement by either local or foreign investors should not exceed 30 per cent and that such investment should be approved by the SEC. Reacting to the situation where shareholders at extra-ordinary general meeting of some insurance firms refused to pick their right issues, Alhassan, said owners of such company should source for funds inwards to recapitalise their company. He encouraged shareholders to utilise the current opportunity of low price of insurance stocks to buy shares either to keep or sell. Some shareholders told THISDAY that though this may be the best time to invest in insurance stocks only shareholders with foresight will stake their funds in insurance stocks mainly because the sector does not encourage investors. According to the shareholders, many investors are looking for ways of disposing their insurance stocks, therefore telling such investors to buy the stocks this time to enable insurance firms raise capital is difficult.

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Sonola: Addressing Challenges in Real Sector Will Boost Capital Market The President of the Association of Asset Custodians of Nigeria, Mrs. Taiwo Sonola, in this interview speaks on the role the association has over the years played in promoting and attracting foreign investors into Nigeria. She also spoke about other issues in the market. Nume Ekeghe presents the excerpts: in maintaining good professional conduct. The member institutions are reputable entities with well entrenched internal governance structures and individual conduct processes which ensure we are able to compete in a healthy manner. Additionally, with guidance from the SEC, we have developed our internal conflict resolution procedure which we have all committed to adhere to as members. We are collaborating competitors.

The Association of Asset Custodians of Nigeria (AACN) was established 10 years ago. A decade later, how would describe the journey so far? The journey has been quite interesting and fulfilling. When the founding fathers formed the association, our influence was very limited. Majority of the capital market operators did not understand the role of a custodian. Today, we have come a long way. Most foreign as well as local clients use our services, we also facilitate a significant portion of investment transactions in the market and through our market advocacy initiatives, we have contributed to the development of the Nigerian capital market in general. Looking ahead, we intend to continue to contribute our quota. We have lined up several initiatives we intend to push with regulators, financial market infrastructures and market operators for the benefit of investors and the country as a whole. This will ensure we remain relevant in the scheme of things. I understand there are eight-member banks of AACN out of about 24 banks operating in the country. What steps are you taking to attract other banks? You are right; we have eight members. As you know, this association is for only banks that offer custody services. We can confirm that all custodian banks have formally joined the association. We are not resting on our oars though as we will be more than pleased to welcome more banks as they join the business of custody. Sonola Your eight Annual Nigerian Investors Day in London was a very successful outing. Can you tell us what you set out to achieve with the organisation of the series? Foreign investors are key to the Nigerian economy. They contribute toward improving liquidity in the capital as well as money markets. In addition, they are a major supplier of foreign exchange which contributes toward the stability of the naira. No doubt with Nigeria being a frontier market, the financial market infrastructures are still developing. We the custodians see ourselves as ambassadors of Nigeria and as having the responsibility to protect the interests of these investors in the market and what appeal to such investors are better regulations and development of market infrastructures that result in better asset protection, automation and straight through processes. Our intention for this year’s conference was to bring the regulators and market operators face to face with the investors to present their scorecards on improvement that have been made in the market since the last conference a year ago as well as the market’s plan for the future. I dare say this was achieved with a high degree of success. Looking at the themee of this year’s conference, ‘Nigeria: The Economics of the Capital Market,’ can you explain to us what that means and what factors that underscored your choice of the theme? The theme sought to highlight the various crucial aspects of the capital market in terms of their current states, topical issues, developments, action plans going forward, among others. The choice of this theme was informed by the increasing appetite that foreign portfolio investors are showing in the Nigerian capital market and the need to listen to them, keep them informed and further boost their confidence. Various presentations, panel discussions and fireside chats at the conference were all centered around the theme. Our very resourceful speakers/panelists did justice to the theme, I must say. In what ways is the AACN collaborating with other bodies, especially the regulatory agencies, to strengthen and develop the Nigerian capital market and the economy?

The AACN is very deeply committed to collaboration, not just with regulators, but also with other market participants with the intention to benefit the entire capital market ecosystem. Speaking specifically of the central bank, the association is in conversations to commence ISIN issuance for OMO treasury bills. We believe this will significantly increase Straight Through Processing (STP) rates for treasury bills. We are also collaborating with the CBN in their efforts to better regulate the market. Specifically, we helped fine-tune as well as provide periodic reporting to aid the regulator in its supervisory function of banks on investment levels in government securities. With SEC, we are collaborating on rule drafting and issuance. The most recent being rules guiding nominee companies of market operators. Collaboration with the CSCS is an example of where we do it with other market participants and there are several examples here. I will cite two. The first is our collaboration on SWIFT usage by the depository and the second is on a possible change from the current dual account structure to a single depository account structure which is current global best practice. These initiatives will help automation as well as improve STP rates. When we talk about investor and custodial services, the uniformed would think that this is an area reserved for foreigners and the rich. Can you speak more about your role in the market? To be honest, some segments of the local market already understand the important role a custodian plays. This has been helped to some extent by the regulators who in their wisdom made it compulsory for banks (for non- proprietary assets) and fund managers (for registered funds) to use custodians to hold such assets. Outside of this, we also see some private funds as well as investors using custodians to safeguard their assets despite no regulatory pronouncement on this. This shows the level of sophistication of such investors. To put it simply, the custodian’s function is to separate investment decision making from custody and post trading activities in general. This is how investors (that use the services of custodians) ensure their assets are protected. There is a glaring risk

in allowing the investment decision maker to also be the custodian of assets. This can lead to unprofessional practices at the detriment of the investor. It is therefore important for all investors to use custodians for these investment activities and this is purely for their protection. Today, we see the insurance sector not using custodians for their investments but rather building their own investment operations team which basically do internally at a very high cost what a custodian would do for them more efficiently and at a far cheaper cost. The market needs to understand the benefits we provide in safeguarding investments. Inadequate publicity is often a reason why awareness about certain sectors of the economy and even products and services are very low. What steps is AACN taking to ramp up awareness about portfolio investment and custodial services in Nigeria? The AACN firmly believes that a good product should be given the required airtime to reach the persons it is intended for. That is the reason why we do some of the things we do. The annual investors’ conference which we organise in the UK is one of the activities we organise to create awareness, not just targeted at investors and intermediaries, but also among regulators and other market operators who participate actively in the event. Another example is our 10th anniversary commemoration which we just concluded. Aside this, we also have several one to one engagements with market operators and regulators which are focused on enlightenment about some of the services and developmental initiatives we provide to the market. For example, we are a part of the SEC’s financial literary initiatives. We also work with the NSE in ensuring that new brokers are knowledgeable about custody before being granted their trading licenses. Competition in the Nigerian ďŹ nancial services industry is quite intense. How is AACN able to deal with the issue of conict of interest considering that its members are from different ďŹ nancial institutions? I think the moral ethics of the institutions that make up the AACN is a key contributor

Nigeria is frequently described as having vast economic potential which have largely remained untapped and have not translated to economic prosperity. What do you think the country should do to be on the path of sustainable growth and development? The capital market cannot be independent of other sectors of the economy. If there is no depth in the real sector, then the capital market cannot thrive, and this is our situation. So, what do we need for sustainable capital market growth? It is quite simple. Stable power, good transport system, sustainable foreign exchange liquidity and availability (for raw materials import), clear and predictable tax regime across all strata’s, suitability qualified manpower, etc. This is not rocket science. For example, the federal government has dominated the debt market at the expense of long-term corporate debt. We also know the challenges with the equities markets. If the government can address some of the issues I have highlighted above, the real sector will naturally thrive. We will then begin to see manufacturing entities spring up and flourish. This will automatically create opportunities for capital market depth over time. It’s good to note though, that the CBN has been in the forefront of trying to stimulate the economy through real sector credit growth. The CBN has through various directives compelled bank to lend more to the real sector and we believe this should translate. The return on investment in Nigeria used to be one of the highest in the world. Have you seen any signs that such an era would be back any time soon? I presume you are speaking on the equities market because the debt market is still one of the highest returns in the market. Returns are closely linked with investors’ perception of risk. Considering the Nigerian market is still quite manual, I would think the high-risk classification is justified to an extent. Coupled with this is the nonlinkage of custodians with the depository, dual account structure, lack of International Securities Identification Number (ISINs) for some instruments, lack of published insolvency laws, etc. there are many factors which impact on the perception of Nigeria as a risky market. We all want the capital market to return to the days of extremely high returns. It is however impossible for a market to have consistently high returns. To ensure we attract investors and investment capital to Nigeria, we need to focus on fixing the issues that contribute to its perception of risks. When this is done, investors will not be so fixated on extra high returns. What goals have you set for the association over the next ďŹ ve years? We have outlined several objectives we intend to achieve in the medium term. We intend to continue to work with regulators and market participants to develop the market. The key initiatives we are focused on include single depository account structure for custodians, ISINs for all market securities including OMO treasury bills, working with the depository to achieve true delivery versus payment for equities, published Insolvency laws for the country, and a few others we are still developing. Additionally, we intend to continue to enlighten the market of our role so that a significant portion of investors begin to use and benefit from our services.

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As Nigeria’s First Solar-Powered Brewery Clocks One EromoseleAbiodun who,alongwithotherjournalistsvisitedGatewayBrewery,thefirstsolarpowered brewery in Nigeria, writes that apart from the environmental considerations, using clean and renewable energy, International Breweries Plc has demonstrated its commitment to long-term investment in the country In October 2019, International Breweries Plc, a proud part of the world’s largest brewer, AB InBev, invited key stakeholders, the media, Standards Organisation of Nigeria (SON), the Federal Competition and Consumer Protection Commission (FCCPC), the Ogun State government, and the Nigeria Climate Innovation Centre (NCIC), on a factory tour of its Gateway Brewery in Ogun State, the biggest brewery in sub-Saharan Africa. Explaining the rationale, Legal and Corporate Affairs Director, International Breweries Plc (IB Plc), Michael Daramola, said the factory tour was part of the activities to mark the first year anniversary of the inauguration of the Gateway Brewery, the largest brewery in sub-Saharan Africa. It was also an opportunity to showcase Gateway Brewery’s quality assurance processes, which ensure both the quality of products that get to consumers and the safety of its employees, contractors, partners on site and its host communities. Indeed, the Gateway Brewery, built at a cost of $250 million (about N90 billion) was inaugurated on 28 August 2018. The factory tour, a year after, was a bold step by IB Plc to open up its operations to scrutiny and allow stakeholders have a firsthand glimpse of the factory’s processes. It provided an opportunity to juxtapose current realities at the factory against claims made at the commissioning a year ago. The Gateway Brewery was built, according to International Breweries Plc, with its 2025 Sustainability Goals in mind, which is in alignment with the United Nations Sustainable Development Goals (UNSGDs). The AB Inbev Group has a well-defined sustainability policy as ensconced in its ambitious 2025 Sustainability Goals. The goals include engendering smart agriculture to ensure the best ingredients for its brews. A significant portion of its raw materials, is sourced locally, thus boosting the production of such materials. Also, spent grain from its production process serves as a raw material in the production of feed for livestock farmers; providing potable water through the donation of solar-powered boreholes and water plants to its communities, use of recycled materials for packaging, and climate action to reduce greenhouse emissions. Speaking on the rationale for the goals, the Global Chief Executive Officer of AB Inbev, Carlos Brito, had said: “We are building a company to last for the next 100+ years, both globally and in Africa.� The young Nigerian managers of the Gateway Brewery, who took the party round the facility and the different production phases, showed invited stakeholders the 2,000 square metres of solar panels for power generation. This investment in green innovation makes IB Plc the first company in Nigeria to power its plant with solar. The party was also shown the facility where the brewery produces bio gas from its by-products to help power its boilers. IB Plc

Gateway Brewery, Sagamu explained during the tour that it converts the liquified natural gas it uses for its generators to gas to be used to also power its boilers. Ensuring Local content According to the brewery manager, Gateway Brewery’s usage of renewable energy through its 150kWp Grid Tied Solar Power System (first phase) that supplies part of the plant’s electricity is innovative and helps to defray some of the production costs. He said the combined heat and power system makes the plant to be one of the most energy efficient breweries in the AB InBev Africa group. On waste management, the managers said the plant operates a strict adherence to 100 per cent waste segregation, effluents treatments, recycling of its bottles and by-product recycling. Equally impressive is that valuable and uncontaminated products like spent grains, etc are sold at cheap rates to the communities for animal farming. This gesture is a form of empowering the company’s communities and forms part of the company’s objective to transform its host communities “in respect of community development, health and education, the environment and other social welfare.� The implication of an energy efficient brewery is manifold, both for the business, the economy and the environment. The businesses that will survive and post strong growth are those able to creatively navigate the power challenge in a cost-effective way. So, apart from the environmental considerations, using clean and renewable energy such as gas and solar at the Gateway Brewery, International Breweries Plc has demonstrated its innovative side, which underpins its stated

desire to continue in operation for the next 100 years and beyond. Its energy self-reliance will help it manage production costs which will, down the line, translate to a more competitive pricing of its products. Eco-friendliness, perhaps, more than any other practice, will be pivotal to business sustainability into the 22nd century and beyond. For efficiency in operations and even market share, businesses across industries have seen the wisdom in reducing their carbon footprint to become environmentally friendly and contribute to a better world – this ties in with Ab InBev’s vision of Bringing people together for a Better World. Commenting on the carbon footprint, Chief Executive Officer, Nigeria Climate Innovation Centre, Mr Bankole Oloruntoba, thanked IB Plc for the tour and commended the company for “deploying clean energy to run the brewery.� Demonstrating Sustainability According to Oloruntoba, “IB Plc has demonstrated sustainability as a strategy model under the premise of people planet and profit. Their commitment to a zero-emission production line has clearly shown the possibility of a circular model in manufacturing, I am sure this will lead the possibilities inherent in the viability of a Green economy in Nigeria and the rise of real environmental responsible companies in Africa. Their investments in alternative clean power sources is impressive but most importantly the incorporation of sustainability in their operational processes is also going to positively impact the growth of Green Jobs of the future.�

Safety of personnel and product also continues to occupy the front burner for Gateway Brewery. The insistence that the visitors go through a 20-minutes painstaking safety induction lecture clearly demonstrated this. The safety instructor revealed that the safety unit has been strengthened over the past year in terms of personnel, tools, and trainings to ensure adherence to best practices. It is in testament to this meticulousness to safety that in the one year of operation, no major accident has been recorded at the plant. The fully automated process ensures that consumers of Trophy, Hero, Budweiser, Beta Malt, Grand Malt and other products from the plant enjoy excellent quality brews. Trophy and Hero lagers recently won the 2019 Monde Selection Gold Awards, the oldest Quality Institute in the World, in validation of their quality. Zonal Coordinator/Director, Federal Competition and Consumer Protection Commission (FCCPC), Mr. Garba Shitu Ahmal, said the commission “observes I B Plc’s commitment to ensuring consumers are availed quality products with the world class production process witnessed in the plant.� The FCCPC director, however, enjoined IB Plc to work closely with its distributors to ensure such quality is not compromised at the market end. As the factory tour comes to an end with the cutting of the anniversary cake, Daramola assured that IB Plc would continue to raise the bar in terms of quality of its products, processes and its sustainability practices.

Kwara Lauds Communities on Infrastructure Development Hammed Shittu in Ilorin The Kwara State Governor, Alhaji AbdulRahman AbdulRazaq has lauded various community efforts aimed at developing the state and bridging the huge infrastructural deficits abound. He noted that the administration would continue to support such efforts in a bid to develop the state. Abdulrasaq stated this recently, in Isanlu-Isin in Isin Local Government Council Area of the state, during the annual Igbomina Day organised by Omo Ibile Igbomina group. AbdulRazaq commended

the various developmental initiatives championed by local communities and non-profit bodies, adding that such efforts contribute hugely to grassroots development. According to him, “Kwara’s infrastructural deficit is such that government alone cannot address it and as such our government would collaborate with private investors, philanthropists, corporate bodies and communities to bridge this gap and bring as much development as possible to our state.� Represented at the event by the state deputy governor,

Mr. Kayode Alabi, AbdulRazaq, said the administration would spread developmental projects to every part of the state, calling on various community bodies to partner the government in the effort. The event was also attended by Minister of Information and Culture Lai Mohammed and other prominent sons and daughters of Igbomina land. According to him, “Since this government came on board on May 29, 2019 we have been committing the meager resources to attend only to priority projects that serve the people of our state.

“There have been verifiable attempts to improve the conditions of our roads, deepen people’s access to potable water, prompt payment of salary, and various interventions in the health sector. As the 2020 budget is being prepared, I can assure you that no part of this state would be left in the cold. “We will ensure that developmental projects are spread across the state as part of a deliberate effort to open up our states for investments and collective prosperity, particularly for our traders and farmers who long for easier access to market.

“I am happy to inform you that the Kwara State Ministry of Education has just advertised bids to renovate selected schools across the state in 2020. This is part of our commitment to a greater Kwara. The Igbomina land, like other parts of the state, is definitely set to benefit from these projects. “The government has paid several counterpart funds to attract the support of various development agencies like the World Bank — a key part of a larger strategy to drive growth and human capital and infrastructural development. “Two examples of such were

the N200 million counterpart fund for Rural Access and Agricultural Marketing Project (RAAMP III) and another N60 million for community development projects. “For the latter, communities can apply to the Kwara State Community and Social Development (KWCDA) to have some micro projects sited in their areas and all they are required to do is to pay 10% of the project cost while the government will add the remaining 90 percent. This, among many others, is part of our commitment to a greater Kwara.�

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IMAGES

Group Managing Director, Nigerian National Petroleum Company (NNPC), Mallam Mele Kyari, Immediate President, Nigerian Association of Petroleum Explorationists (NAPE), Mr. Ajibola Oyebamiji and Managing Director, Asharami Energy (A Sahara Group Upstream Company), Mrs. Olajumoke Ajayi at the NAPE 37th International Annual Conference in Lagos...recently

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

The Vice Presidential candidate of the PDP, Mr. Peter Obi (left), commiserating with his boss and the PDP Presidential Candidate, HE, Alhaji Abubakar Atiku( right) over the death of his aide. Umar Pariya in Abuja... recently

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L-R: Country Director, UNAIDS, Dr Erasmus Morah; Chairman Senate Committee on Health Primary Care, Senator Chukuka Utazi and Director General, National Agency for the Control of AIDS, Dr Gamb Aliyu during the 2019 World AIDS Day press conference in Abuja...recently

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L-R: Director of Navigation Positioning and Timing in Defence Space Administration, Nigeria Navy, Rear Admirer R.O Mohammed; decorating Colonel AUDU Yusuf Mbafung, who is among the ďŹ ve Colonels promoted to the rank of Brigadier General, assisted by his wife, Mrs Blessing, After the Senior OďŹƒcer faced respective promotion boards of the Nigeria Army, Navy and Air Force at the Defence Headquarters Abuja...recently

L-R: Ogun State Police Public Relations OďŹƒcer, DSP Ade Oyeyemi; Chairman, Consolidated Chapel, Nigerian Union of Journalists, Mr. Kazeem Olowe; Chief Press Secretary to Ogun State Governor, Mr. Kunle Somorin; Public Relations OďŹƒcer, Ogun State Command, Nigerian Customs Service, Abdullahi Maiwada and Consultant to Ogun State Governor on Electronic Media, Mrs. Yinka Ogundimu, at the celebration of World Television Day in Abeokuta...recently

L-R: Group Business Editor, ThisDay Newspapers, Mr. Obinna Chima; Corporate Communications Manager, Lafarge Africa Plc, Mrs. Ginikanwa Frank-Durugbor and Managing Editor, ThisDay Newspapers, Mr. Joseph Ushigiale, during the courtesy visit by Lafarge team to ThisDay Corporate Headquarters, Apapa, Lagos... recently PHOTO: MUBO PETERS

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EDUCATION Tackling Edo State’s Humanitarian Challenges with Quality Education Edo State Governor, Godwin Obaseki, who described education reforms as one of his major achievements so far, explained why he took the initiative, the strides made so far, the outcome of his investment and the future expectations. Uchechukwu Nnaike reports

O

n assumption of office in 2016 as the Governor of Edo State, Godwin Obaseki moved swiftly to address the rot that had occurred in the education sector over the years. He said the deterioration of the public education system in the state had an extreme effect on children from poor communities, adding that the system was characterised by overworked and poorly trained teachers using outdated teaching methods which failed to prepare the children for the challenges of the 21st century. According to him, his administration discovered what he termed humanitarian crisis among youths who are not educated and as such not empowered to make the right choice. “When I realised that we had about 40,000 Edo boys and girls in Libya waiting to cross over to Europe, then I knew we had a humanitarian crisis; they were not properly trained, they are not educated and they had lost hope. If we continue this way after a while, we will not even have a state to govern. “More importantly was the social effect on the society. You go to some communities, you won’t find young people, everybody has moved to the fringe of Benin so that from there they can take off and travel. And when we looked at the data, they were not just trafficking women anymore; we had more young boys migrating regularly than women who are being trafficked.� The governor said he realised that the answer is knowledge. “If people knew and they felt they had options, they won’t opt for this dangerous option. That was why we said we need to make a lot more investment for tomorrow.� As part of his intervention in the education sector, the Obaseki administration started with the primary level, having identified basic education as the most important building block for learning and development for every human being. The determination to transform the sector birthed the Edo Basic Education Sector Transformation (Edo BEST), which has led to the successful training of over 7,000 teachers in the use of digital tools to aid learning since 2018. The teachers now prepare and deliver lessons, as well as monitor students’ performance with the mobile devices. The governor also implemented a new curriculum in public schools, which supports ICT tools. He also ensured constant reward of teachers to motivate those who show exceptional commitment to teaching the children who are the future of the state. To promote a conducive learning environment, the government, in collaboration with the State Universal Basic Education Board (SUBEB) renovated and reconstructed 230 public schools in the 18 local government areas. The work done included the addition of classrooms and restrooms, replacement of leaking roofs, repair of broken wall and flooring. In some cases, buildings were demolished and rebuilt. In a bid to engage more youths, thereby reducing school drop out rate and youh restiveness, the government also embarked on the rehabilitation of the Government Science and Technical College, formerly known as the Benin Technical College. It involved the construction of new classrooms for 400 students, new laboratories and workshops, renovation of existing buildings with internal and

Teachers at the launch of Edo BEST external fittings and a dedicated power line, which will supply power directly to the college and the University of Benin. During a visit to one of the primary schools when lesson was ongoing, THISDAY observed that the mobile device called Teachers’ Computer (TC), made the teacher’s job easier, while the pupils were eager to learn in a relaxed atmosphere. One of the teachers, Ms. Sandra Orherhator commended the state government and the SUBEB for moving teachers from the era of diaries and lesson notes to the era of using computer to teach, making teaching and learning easier. “Today, the children learn easily, you pronounce a word for them and at the count of two, they give you what you

Today, the children learn easily, you pronounce a word for them and at the count of two, they give you what you want. They pronounce, they spell, they make you happy. I feel very happy doing this job, I feel very proud becoming a teacher

want. They pronounce, they spell, they make you happy. I feel very happy doing this job, I feel very proud becoming a teacher.� Explaining the use of the teachers computer, she said, “right now we no longer make use of the diary and register, it is the TC. After the assembly in the morning, you use the TC to take attendance of pupils in the class. Even in the afternoon, we also use it to know those who came in after break and those who did not. Then all classes for the day, schedules will come that we use to teach each subject and with time. So the schedule and daily lessons are uniform in all primary schools.� It was also learnt that the device is used to track Teachers’ attendance as teachers have to clock in before 7.40am or the system will automatically declare them absent for the day. “As a teacher, when it is 7.20am you should be in school, when it exceeds 7.40am you are already late, you should know you are late for that day. You can use the TC to work, but you can use it to sign out at the end of the day.� The Headteacher of one of the schools, Mrs. Oti Osariemen said there is a central server used by the supervisors so when a teacher is not in school, the headteacher will be called to inquire about the teacher. She said the device is programmed to function within th school premises while the headteacher is close to her computer so the possibility of a teacher signing in from home is ruled out. She recalled how a child was absent from school and with the information provided by the parents, the school had to call the parents who informed the them that the child travelled to attend a burial. “The man was so happy that we noticed the child’s absence and called to find out what happened.� She added: “Anytime we admit a student here Edo BEST will send a congratulatory

message to the parents. So the parents and teachers are happy.� From the primary schools, the governor said he plans to restructure the junior secondary school so that by the time a child goes through the first nine years of learning in Edo State, the child is ready for life. “So even if you don’t have an opportunity to continue, you would have picked out something from the school system because the first six years will consolidate your ability to learn then the next three years in junior school will expose you to life. “You must leave school with a vocation so that if you don’t have the opportunity of continuing to senior school or technical school, you don’t end up being a tout as the situation was. So at the end of the day it is about human capacity, once you build the human beings then they make things happen.� He expressed delight that the government was able to pull back and recover a system that it thought was lost within a short time, adding that the educational transformation will have a positive effect across the board. To sustain the quality, Obaseki stated that teachers’ performance is constantly being monitored, while retraining is consistent. “We have field officers who go round, they have records and can tell when a teacher has not completed the lesson notes and areas of weakness, once they do, they talk to the teacher and try and help; they do what we call teachers support system. The teachers also have groups so when they spot weakness they also try and nicely help and support. There are also mandatory trainings they have to undertake so every holiday period for instance they need to take time out to go through some programmes maybe there is a change in the pedagogy or curriculum.� He said with the availability of data, education administration is now easier.

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EDUCATION

Minister Advocates Partnership for Innovations in Tackling Underdevelopment Funmi Ogundare The Minister of Education, Mallam Adamu Adamu has called on the management of Yaba College of Technology (YABATECH) to work with relevant agencies, industries and researchers to come up with ideas and innovations to tackle the prevailing challenges of underdevelopment. Adamu made this known recently at the 33rd convocation ceremony of the college, where a total of 8,411 full-time and part-time HND and ND students for the 2017/2018 academic session graduated. A breakdown of the figure showed that 148 students graduated with distinction; 1,055 had upper credit; 1,781 with lower credit and 418 had pass grade at the HND level. At the ND level, 1,009 had upper credit; 2,575 got lower credit, while 1,313 graduated with pass. In addition, three students graduated with upper credit, 10 with lower credit, while two had pass grade in the professional diploma programmes. Represented by the Director of Tertiary Education, Dr. Joel Samuel Ojo, the minister said since the focus of the current administration is to provide opportunities for the youths to create wealth and maximize their potential, all stakeholders must collaborate to transform the nation so that it can be on the list of technological advanced countries. “I have been following with keen interest the worthy contributions of the institution

Victor Ogunje in Ado Ekiti towards the development of technology and ultimately national growth. The recent selection of YABATECH as an i-hub centre by UNESCOUNEVOC is a confirmation of its capability for innovations. In addition, the institution is one of the two institutions selected for Technical, Vocational Education and Training (TVET) in Africa.� He congratulated the graduands for their achievements and encouraged them to use the knowledge they acquired at the college for the service of humanity. “It is my expectation that as you go out to the world of work, you will contribute your quota to the development of the nation and be good ambassadors of your alma mater,� he said. In his remarks, the Rector, Mr. Obafemi Omokungbe highlighted the achievements of his administration since its inauguration two years ago, saying that with the support and approval of the governing council, a five-year strategic plan was adopted for the college which focused on academic development, grant award, human capital development for staff, innovation hubs, students services, resuscitation and completion of projects, as well as security of lives and property. “Early this year, the college won the Ford Foundation project grant of $100,000 in support of development of Yaba Art Museum. The project also incorporates advocacy against sexual harassment and gender based violence. We are indeed grateful to the Ford foundation.�

UNIBEN Confers Former VC, Others with Professor Emeritus Adibe Emenyonu in Benin City The management of the University of Benin has conferred on one of its former Vice-Chancellors, Professor Emmanuel Nwanze with the title of Professor Emeritus. The conferment was made at the 45th convocation ceremony of the institution held at the Ugbowo campus. Other recipients were Professor Esosa Bob Osaze and Professor John Oamen Igene. Nwanze became the first recipient of the title from the Faculty of Life Sciences. In his remarks, President Muhammadu Buhari, who was represented by the Deputy Executive Secretary, National Universities Commission (NUC), Suleiman Yusuf, said the preference for catchment areas in admitting new students have been abolished, while directing all federal universities to ensure that every local government, all states and all geopolitical zones are represented in their admission of new students. He warned that any institution found going against his directive would be sanctioned, adding that he has directed the Joint Admissions and Matriculation Board (JAMB) and the NUC to ensure compliance commencing

BSc/HND Dichotomy No Longer Barrier to Attend Polys, Says Rector

from the 2020 admission season. Buhari said the NUC and JAMB have been directed to thereafter carry out a comprehensive student audit to ascertain compliance. “The demographics of various Nigerian universities reveal a preponderance of over localisation and over indigenisation with only a few universities including those owned by the federal government having a semblance of national institutions in terms of the national spread of their staff and student population. Universities should be more broadminded, less parochial and eschew over indigenisation. “Government expects university managers to do a lot more with less, given the economic reality confronting us as a nation today. This calls for innovative and transparent management practices. Funding is not just about the quantum of fund disbursed to universities, it also includes the judicious management of available funds to ensure that we get more mileage on whatever funds are expended.� A total of 100 graduands were awarded first class degrees, while 273 were awarded doctorate degree (PhD) out of 10,198 graduands that were awarded various diplomas and degrees.

The Rector, Federal Polytechnic, Ado Ekiti, Dr. Hephzibar Oladebeye has said the dichotomy between bachelor’s degree and Higher National Diploma holders has been largely removed by the federal government and that it is no longer a barrier from acquiring polytechnic education. Oladebeye said time has come for the country to place high premium priority on the acquisition of technical education, saying many of the diploma holders are doing far better than their counterparts from the universities. Oladebeye said this on Monday when the Dean, School of Environmental Studies, Abiodun Oyedokun presented

the laurel won by students of the Department of Quantity Surveying at the inter- school quiz competition, organised by the Nigeria Institute of Quantity Surveyors. Oyedokun said the competition involved Nigerian polytechnics and universities offering Quantity Surveying. Oladebeye commended the federal government for handling the dichotomy issue, saying that the fact that one is a polytechnic graduate doesn’t make him inferior academically and in competence to bachelor’s degree holders. “The issue of dichotomy is being handled by government and if you check the records, the entry point for both HND and bachelor’s degree is now the same. But what remains is

that HND holders are given the title of technology, while bachelor’s degree holders are called engineers, that is in the engineering field and this has to be nipped in the bud. “In actual fact, I don’t see anything in this much touted dichotomy because it could only apply when HND holders are not ready to go further. If you know you have a good grade at HND, you can easily go to university and get your postgraduate diploma and master’s degree and dichotomy will cease to happen. “So, it is only applicable to those who want to make the HND the bar of their academic careers. But largely, the dichotomy between polytechnic and university has been taken care of and it is no longer a

barrier for any person who desires higher position for himself and should not be an issue to worry about.� He commended the students for doing the polytechnic proud, saying, “this is the kind of achievement we want to hear about. While some are engaging in unprofitable ventures, you are bringing laurels that will project our image. “The governing council will celebrate this. This is a proof that we know what we are doing here. You have done the institution, me and yourselves proud with this feat.� On his part, Oyedokun said the students had earlier won the south-west quiz competition before proceeding to the national level to win another laurel.

L-R: winner of the Grand Mentor Teacher’s Award, Francis Ube, receiving his prize from the General Manager, Midstream, Seven Energy, Ani Umoren, during the 12th Teachers’ Award for Excellence in Akwa Ibom State Public Secondary Schools, organized by Inoyo Toro Foundation

Greensprings School Launches Wowbii Interactive Boards to Enhance Learning Having recognised how the digital revolution is reshaping the education industry, the management of Greensprings School is constantly adopting tools and technology for 21st century students. Since the beginning of the 2019/2020 academic session, the school has been hinting at new innovative technology meant to improve the teaching and learning experience. Preceding the introduction of virtual reality, augmented reality and the air and sea laboratories, the launch of Wowbii boards in classrooms across Greensprings campuses marks the beginning of what can be described as technology explosion. The Wowbii screens, which were initially tested at Greensprings Ikoyi Campus before scaling to

the secondary and elementary levels at the other campuses, serve as a useful learning tool for teachers and students because of its interactive features and visual displays. The Deputy Director of Education at Greensprings, Dr. Barney Wilson described the Wowbii boards as “a teacher’s best friend and an assistant to the learners.� He affirmed teachers’ readiness and curiosity to experiment with the new technology, adding that “here at Greensprings, we have teachers who are tech-savvy. Our method was to choose rooms and simply put the screens in the room to give teachers and students an opportunity to use them. “Students are technologydriven. They are using technol-

ogy at home and because they are already technical people, they no longer listen to just the teacher, they can also see immediately what the teacher is talking about.� So far, the Wowbii boards were introduced to 22 new rooms and have been well received with excitement. According to Mr. Lawal, the year 10 Economics teacher, “the students were very excited when I switched on the Wowbii screens in the morning. “Unlike the regular whiteboards, whereby I have to always wipe off my notes after every class, the Wowbii electronics boards enable me to save my notes for each class so I don’t have to start all over again. This makes me more productive, as I can always refer to my notes

from previous classes,� he added. Fikayomi, a year 10 student said, “it’s been so much fun using this board because it grabs everyone’s attention and makes learning more exciting. When we first saw it, everyone started clapping.� Reactions from other teachers revealed that the board has helped take away the abstract part of learning, making it more concrete and easy to comprehend. As Nigeria’s first thinking school, Greensprings is actively leading the charge forward in using technology and research to explore different aspects of education, while preparing students for college, career and entrepreneurship by creating business incubators and readiness centres on campus.

Tech-U Announces Resumption Date The First Technical University, Ibadan, (Tech-U) has announced the resumption date for the 2019/2020 academic session. The management of the institution in a statement

disclosed that newly admitted students are expected to come into residence on Sunday December 8, 2019, ahead of the orientation programme which is scheduled to commence

on Monday, December 9 and run till December 20, 2019. Returning students are expected back on campus by January 5, 2020. According to the Media

Assistant to the Vice- Chancellor, Mr. Wole Adejumo, registration for courses will commence on December 18, 2019, while lectures will commence on Monday, January 6, 2020.

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EDUCATION

OGS Seeks Synergy between Alumni, School Owners, Honours Generous Members Uchechukwu Nnaike The President of the Old Grammarians’ Society (OGS) of CMS Grammar School, Bariga, Lagos, Mr. Olu Vincent has called for more understanding between the old boys and the mission for greater0 development of the school. Vincent said this at the 2019 OGS Merit Award ceremony, organised to honour members who have contributed significantly to the progress of the school, activities of the OGS and the socio-economic and political development of the country. While highlighting the contributions of the old students, he said: “We can recall what happened to the school when the then government took over all the schools in Lagos State. We lost all our identity as a faith-based institution and we could not boldly vouch for all our products. It is on record the great and fantastic efforts the OGS embarked upon to reclaim our school after a long ‘battle’ in 2001 only to meet a carcass of the great CMS Grammar School. According to him, since 2001, the old boys have invested over a billion naira towards its transformation, but stressed

that “the contributions will not confer ownership on us as some old boys have erroneously believed.� While calling on the government to invest more funds in education to address the rot in the sector, he said a nation that fails to invest in education will not grow. He also emphasised the need to reinvent the discipline they had, adding that students must be brought forth in the ways and fear of the Lord. On some of projects executed by the old boys, Vincent said: ‘’We built a new ultra-modern hostel for the students, a new staff quarters, Olympic size swimming pool, a new chapel, new lawn tennis court and did the landscaping of the school and the library; and currently we are building a N250 million e-library for the school. “We are spending money again to enhance the capacity of teachers. We have a teacher training programme, N1 million every year by an old boy dedicated to training and enhancing the capacity of teachers every year. Then for the best teacher for each subject, we give an award of about N50,000 every year just to motivate the teachers. For every ‘A’ students score, we give the teacher N5,000. The teachers

are not well remunerated so the only thing we can do for them is to try and see what we can do to make them feel happy. What we are trying to do now is to have a staff quarters that can accommodate all the teachers in the school premises so that no teacher has to go anywhere for residency.� The Chairman, 2019 Merit Award Committee and Second Vice-President, Dr. Dipo Arigbede, said the ceremony was to reward those who have contributed to the oldest secondary school in Nigeria and who have contributed their quota to the development of the country and human race. “There is no other way than to honour them for their selfless service. If you are honoured in a ceremony like this, you feel fulfilled; it is a confirmation that you have contributed towards your field of endeavour and every year you see new people in every aspect of life being rewarded.� He stressed that the award is not meant for corrupt people, adding, “in the history of the OGS merit award, we have never seen corrupt people being recognised. They are self-made people who have achieved success.� One of the awardees, Mr. Biyi Otegbeye described the event

as a celebration of legacy and tradition and values. While thanking the association for the honour, he appealed to old boys who have not been supporting their alma mater to start, as the challenges are enormous and cannot be left to the government alone. “I was here 10 years ago and this place was like a decay, but coming back now to see it is a thing of joy to me and I note that these were accomplished not by government, but by the old students so I give a clarion call to everybody, all of us must have come from somewhere, whether primary, secondary or university, we should learn the culture of giving back to the society that made us whatever we are.� Another awardee, Engineer George Fajemirokun, said the award came as a surprise to him, “out of millions of old students, I was picked to be an awardee. I appreciate the efforts of my seniors, the board of trustees, the OGS president, past and present for picking me. I see myself like I have done nothing for the school in comparison to others, but I am grateful for the award. I am glad to be an old student of the school and I am proud to defend my school anywhere I am.�

KEHINDE OMORU www.kayomoru.com

LIVE WHAT YOU TEACH

Slight built Ralph (real name withheld) is a 65-year-old assistantlecturer whom I came to find had done much phenomenal youth and community work (in the west-Indies) within the sum total of his entire work-life to this present time. This morning, he accompanied a 20-year-old young person whom I shall call Anise into our unit. Tall, study, heavy-set and intense, Anise has autism, learning disabilities and a reputation for sudden, unsuspected and usually un-triggered outbursts of challenging behaviour that often times culminate in him dishing out physical onslaughts and physical injury at anyone around him. A Dynamic Individual Behaviour Strategy document exists to address his outbursts. However not one of his escalated troubled moments has passed without us applying first aid treatment to a staff member or a mate whom he has dealt a flash-of-lightening-style injury. So it is that he can vent a pinch, bite, scratch, squeeze, grab, blow - you name it on others. Tall, study, heavy-set and intense Anise appears to have eyes 360° about his head and rampages before his excesses at times are at least maybo-1 contained. Each episode of escalated behaviour results in immediate review of IBS plan. For this I continue to marvel at the expertise and dedication I continue to find within teams here. It’s all about: design or a practice, implement, evaluate, review, publish and back to the start - cyclical, innovative and progressive. The last time I tried this on just a small aspect of work I was involved in at home in 9ja; they called me names and crushed the whole endeavour. No hard feelings though. You learn to take these things in your stride and keep moving. So back to my story, everyone has been wondering why “Anise is so good with Ralphâ€?. When Ralph is on shift, it’s a given that he would be the 1:1 for Anise. It’s a silent seemingly un-negotiable staff allocation - Ralph works with Anise. A number of people have ‘shadowed’ Ralph working with Anise, got their ‘freedom’ (9ja word for achieving competency at something) but ended up being disqualified after a couple of 1:1s with Anise that’s gone wonky. So this morning whilst Anise is been seen by my colleague, I ask Ralph what makes him this perfect mentor-support worker extraordinaire that he has earned working with Anise. The following are his emulatable responses: Ëž ĂŽĂ?Ă?Ă“ĂŽĂ?ĂŽ Ă Ă?ĂœĂŁ Ă›Ă&#x;Ă“Ă?Ă•Ă–ĂŁ Ă“Ă˜ Ă–Ă“Ă?Ă? ÞÒËÞ Ă‹Ă— Ă‘Ă™Ă“Ă˜Ă‘ ÞÙ ĂŒĂ? Ó×ÚËĂ?ĂžĂ?Ă&#x;Ă– Ă“Ă˜ life. I told myself that I am not going to be just a number in life. Ëž Ă?Ă?Ă?Ă– ÞÒËÞ ĂĄĂ’Ă‹Ăž Ă—Ă‹Ă•Ă?Ă? ĂŁĂ™Ă&#x; ĂœĂ?Ă‹Ă–Ă–ĂŁ ĂŽĂ“Ă?Ă?Ă?ĂœĂ?Ă˜Ăž Ă?ĂœĂ™Ă— Ă‹ Ă˜Ă™Ă˜Ě‹Ă’Ă&#x;Ă—Ă‹Ă˜ is how much you’ve left an impactful place in someone else’s life so much so that they go on to replicate or model who you’ve been to them. Ëž Ă—Ă‹ĂŽĂ? Ă‹ Ă?ÒÙÓĂ?Ă? ÞÙ Ă‹Ă?ÞÓà Ă?Ă–ĂŁ Ă‹Ă˜ĂŽ ĂšĂœĂ‹Ă?ÞÓĂ?Ă‹Ă–Ă–ĂŁ Ă’Ă?Ă–Ăš ĂŁĂ™Ă&#x;Ă˜Ă‘ ĂšĂ?ÙÚÖĂ? evolve properly Ëž ËŤ Ă’Ă‹Ă Ă? Ă—Ă?Ă˜ĂžĂ™ĂœĂ?ĂŽ Ùà Ă?Ăœ ͳ͎͎ ĂŁĂ™Ă&#x;Ă˜Ă‘ ĂšĂ?ĂœĂ?Ă™Ă˜Ă?Ëœ Ă“Ă˜ ĂŽĂ“Ă Ă?ĂœĂ?Ă? ĂĄĂ‹ĂŁĂ? between the ages of 13 and 25 years old in my lifetime to date. Most of them have never lived with me. Ëž Ă’Ă‹Ă Ă? Ă‹Ă–ĂĄĂ‹ĂŁĂ? Ă‹Ă–Ă–Ă™Ă?Ă‹ĂžĂ?ĂŽ Ă‹ Ă?Ă—Ă‹Ă–Ă– ĂšĂ?ĂœĂ?Ă?Ă˜ĂžĂ‹Ă‘Ă? Ă™Ă? Ă—ĂŁ Ă—Ă™Ă˜ĂžĂ’Ă–ĂŁ earnings to support the poor ones through education. Ëž Ă–Ă?Ă‹ĂœĂ˜Ăž Ă Ă?ĂœĂŁ Ă›Ă&#x;Ă“Ă?Ă•Ă–ĂŁ ÞÒËÞ Ă“Ă? ĂŁĂ™Ă&#x; Ă?Ă‹Ă˜ Ă‹Ă–Ă–Ă?Ă Ă“Ă‹ĂžĂ? ÞÒĂ?Ă?Ă? ĂŁĂ™Ă&#x;Ă˜Ă‘ persons’ basic needs of shelter, clothing, security, psychological balancing, food and affirmations; you would be freeing them to go and seek their purpose. Ëž Ă’Ă?Ă–Ăš Ă?Ù×Ă? ÞÙ Ă‘Ă™ ĂŒĂ‹Ă?Ă• ÒÙ×Ă? Ă‹Ă˜ĂŽ Ă?Ă&#x;ĂŒĂ—Ă“Ăž ÞÙ ÞÒĂ? ĂŽĂ“Ă?Ă?Ă“ĂšĂ–Ă“Ă˜Ă“Ă˜Ă‘ of their parents; I even take them back home. Ëž ÖÙÞ Ă™Ă? Ă—ĂŁ Ă—Ă?Ă˜ĂžĂ?Ă?Ă? Ă?Ă‹Ă–Ă– Ă—Ă?Ëœ ËŠĂ?ËÞÒĂ?ĂœËŞ Ă‹Ă˜ĂŽ ÚÖËã ÞÒÓĂ? ĂœĂ™Ă–Ă? ÞÙ ÞÒĂ?Ă—Ë›

L-R: Mrs. Folashade Balogun; her husband, recipient of Grammarians of Honour award Dr. Adeniyi Afolabi Balogun Class Set 1973/75; and the Vice-Chancellor, University of Lagos, Professor Oluwatoyin Ogundipe, at the 2019 Merit Award ceremony, organised by the Old Grammarians’ Society at CMS Grammar School, Lagos... recently

Society Promotes Reading Culture as Lagos Demands Value Addition Oluchi Chibuzor In line with its mandate to promote the reading culture and the attainment of sustainable education development across Africa, AIFA Reading Society has stated that it is leaving no stone unturned in fulfilling the mandate. Speaking at the fourth annual AIFA Young Writers’ Award in Lagos recently, the President of the society, Professor Enase Okonedo reiterated that the society would vigorously pursue the course of making students in Lagos and Africa love reading and writing with passion. Okonedo said it is her penchant to debunk the

erroneous assertion that Africans do not love reading, adding that AIFA is poised to achieve a sustainable education development in Africa by its continuous promotion and support of reading to guarantee the future of Africa. “No developed nation survives without education, so we must not be known as people who have aversion for reading; no, we must change the narrative, such abusive tag by some persons across the globe must be refuted and we love books and must not lag behind in developmental education.� She said the organisation carefully chose the theme: ‘Re-positing Education in

Nigeria for Relevance in the 21st Century’ because it’s conspicuous that Nigeria is far below the threshold of minimum requirements set by UNESCO in funding and facilities. “We are not happy that over 13 million children are out of school, even the ones in school are not encouraged by all stakeholders for obvious reasons, most of them study under unconducive environment and lack the motivation. Thus both teachers and government must live up to their responsibilities to revive the reading and writing spirit in our children, so that they would embrace their books and jettison Facebook,� she

noted. The Lagos State Commissioner for Education, Mrs. Folashade Adefisayo, represented by the Director General, Quality Assurance, Abiola Seriki, charged school owners to embrace modern techniques and tools for learning and adding value to the students. “Please give these children the best because they are the future politicians, surgeons, engineers, administrators etc we are looking at; let them have the right values, norms and ethos today to make them focus and paint the Nigeria we all desire. We must get it all right now,� she said.

Ëž Ă˜Ă™ĂžĂ’Ă?Ăœ ÖÙÞ Ă?Ă‹Ă–Ă– Ă—Ă? ËŠĂ&#x;Ă˜Ă?Ă–Ă?ËŞ Ă™Ăœ ËŠ ĂœË›ËŞ ÞÙ ÞÒĂ?Ă?Ă? Ă™Ă˜Ă?Ă? ÚÖËã ÞÒÓĂ? ĂœĂ™Ă–Ă?Ë› Ëž ÖÙÞ Ă‹ĂœĂ? Ă?Ă™ Ă?ĂœĂ?Ă?Ëœ Ă?Ă“Ă˜Ă?Ă? ĂŽĂ™Ă˜ËŞĂž Ă?Ă–Ă“Ă˜Ă?Ă’ Ă?ĂœĂ™Ă— ÞÒĂ?Ă“Ăœ Ă?ĂžĂœĂ?Ă?Þ̋åÓĂ?Ă?Ă˜Ă?Ă?Ă?Ëœ that with little or no reservations, they tell me hideous things they have done. Ëž Ă—Ă‹ĂŁ Ă?Ă?ÙÖÎ ÞÒĂ?Ă— Ă‹Ă˜ĂŽ ĂŽĂ?Ă‹Ă– Ă™Ă&#x;Ăž ĂšĂ?Ă˜Ă‹Ă–ĂžĂ“Ă?Ă? Ă?Ă™Ăœ ÞÒĂ?Ă“Ăœ ĂŒĂ‹ĂŽ ĂŒĂ?Ă’Ă‹Ă Ă“Ă™Ă&#x;ĂœĂ?Ëœ but I’m soon seeking them out again. Ëž Ă?Ă˜Ă‘Ă‹Ă‘Ă? ÞÒĂ?Ă— Ă›Ă&#x;Ă“Ă?Ă•Ă–ĂŁ Ă‹Ă‘Ă‹Ă“Ă˜ ÞÙ Ă—Ă‹Ăš Ă™Ă&#x;Ăž Ă?ĂžĂœĂ‹ĂžĂ?Ă‘Ă“Ă?Ă? ÞÙ Ă‹Ă Ă?ĂœĂž their behaviour. Ëž ÞËÖÕ Ă?Ù×Ă? ĂžĂ’ĂœĂ™Ă&#x;Ă‘Ă’ Ă™ĂšĂžĂ“Ă™Ă˜Ă? ÙÚĂ?Ă˜ Ă?Ă™Ăœ ÞÒĂ?Ă— Ă‹Ă˜ĂŽ Ă‹Ă?ÞÓà Ă?Ă–ĂŁ Ă?ĂžĂ?Ă?Ăœ them towards their goals. Ëž ĂŽĂ™Ă˜ËŞĂž ĂĄĂ‹Ă?ĂžĂ? ÞÓ×Ă? Ă™Ă˜ ÞÓ×Ă?Ě‹ĂĄĂ‹Ă?ĂžĂ“Ă˜Ă‘ ĂŁĂ™Ă&#x;ÞÒĂ?Ë› Ă™Ă&#x; Ă—Ă&#x;Ă?Ăž Ă‹Ă?Ă?Ă?ÚÞ that you simply can’t help everybody. Ëž Ă™Ă&#x;ÞÒĂ? ÞÒËÞ Ă‹ĂœĂ? ËŠĂžĂœĂ™Ă&#x;ĂŒĂ–Ă?ĂŽËŞ ĂŒĂ&#x;Ăž Ă’Ă?ËÖÞÒã Ă’Ă‹Ă Ă? Ă‹Ă˜ Ă‹Ă—Ă‹Ă¤Ă“Ă˜Ă‘ Ă?ËÚËĂ?ÓÞã to get well quickly because age and time are in their hands. Ëž Ă™Ă?Ăž Ă™Ă? Ă—ĂŁ Ă—Ă?Ă˜ĂžĂ?Ă? ËŠĂ?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ËŞËœ ËŠĂ˜Ă?ÚÒĂ?ĂĄĂ?ËŞ Ă‹Ă˜ĂŽ ËŠĂ˜Ă“Ă?Ă?Ă?Ă?ËŞ ÑÙÞ Ă&#x;ĂšËœ went out and have made it great all over the world. Pressing just a bit more, I asked how Ralph is able to mentor Anise who has these neurological issues with no quirms. Ralph replied with one of the most thought provoking statements I’ve heard in years. He said, “people see the behaviours, I see the person that Anise is.â€? “Kay, he continues, his behaviours challenge me to deal with the situation in ways that bring him and everyone around progress.â€? Enough said.

Mrs Kehinde Omoru writes from the UK

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The Distinct Advantages of Montessori Educational Years Bola Benson

M

aking a decision on what school is best for your child is an important one at all junctions. Certainly, first steps are often important ones, choosing wisely at nursery level ensures a great foundation for all else that will inevitably follow. There are many good early years practices out there and they often share important principles. However, the Montessori approach is unique because not only does it meet all early year’s developmental goals, but it provides many peculiar advantages. The Language Factor It is important to note here that whilst many early years systems now employ a phonetic introduction to language (including jolly phonics, letter land, phonics international), Montessori has always employed a phonetic system. This is not surprising, as the entire Montessori approach is pragmatic and practical; its focus on the child using its senses; most notably its visual, tactile and auditory sense towards acquiring language. Montessori goes further towards encouraging ‘total reading’; which encourages not only the ‘decoding’ of sounds towards reading, but fosters real appreciation for the written and spoken word. From the earliest stages, there is a real sustained effort at building and enriching vocabulary, even with all other areas of the curriculum infused with language opportunities. There is language built into Mathematics curriculum, language underpins the practical life curriculum and culture curriculums. The sensorial curriculum is rich with language; specifically introducing children to adjectives in a very concrete and structured manner. The Montessori child comes away with strong language abilities; gained not merely from his language lessons but from his entire experience at a Montessori school. Sensorial Introduction to the abstract Mathematics deals with many abstract concepts, particularly the further along you get. The ability to calculate, quantify, estimate, qualify and make judgements are essential skills. The Montessori Sensorial Curriculum essentially addresses all these demands and more. It provides the foundation useful towards acquiring these skills including a sense of order, pattern recognition, logical thought, appreciation for precision and critical evaluation amongst others. Best of all, the child acquires these skills as a result of his own experience gained through his senses; the child in manipulating a longer rod can appreciate it is somehow ‘more than’ a shorter rod

he manipulates similarly. All activities are arranged to proceed from simple to complex; ensuring the child has already developed initial skills that will allow him seamlessly take on more complex ones. The language he is then given corresponds directly to his experience; allowing him properly and accurately express his ‘discoveries’. These sensorial materials are a wonderful ‘bridge’ to the more abstract world of formal mathematics and allows even young children experience areas hitherto believed to be too advanced for them, for example geometry. A child who has ‘felt’ the four corners and sides of a square or the denseness of a cube will quickly learn it has four sides and recognise its surfaces within the cube. Once armed with these relevant experiences, the child can proceed to fully grasping abstract concepts with real understanding. Mathematics Montessori believed every child has a ‘mathematical mind’. The ‘Montessori child’ has been prepared for Mathematics and the progression is wholly natural. He is aware of important concepts such as quantity, familiar with the succession and patterns therein, he can notice increase and decrease and is familiar with units of difference. He has had active experience with geometry. Even the practical life activities have acted as indirect preparation for exercises such as addition, subtraction, division and multiplication. This child will inherently understand that bigger numbers are made up of components of smaller ones and see that addition is the direct opposite of subtraction as division is to multiplication. There is a real naturalness to the learning of Mathematics which means no Montessori child goes away with a phobia for or dislike of the subject. There is no cramming of principles, rather guided experience that leads to understanding. A clear understanding means Montessori kids can then readily apply the knowledge in daily situations. With Montessori, naturally mathematical kids’ have wings to fly; able to go at their own rapid pace while those less mathematically inclined acquire all the basic skills they need to build upon. Practical Life The benefits of practical life activities, synonymous to the Montessori approach are so universally accepted by all early years practitioners that best practice in nonMontessori settings include practical life activities. Many good quality educational toys similarly mimic Montessori materials; particularly in early years. It is apparent that the developmental aims that underpins them;

independence, concentration and development of coordination are appreciated as essential building blocks for all learning. The tendency to independence is intrinsic to humans and essential to their development, a factor Montessori ensured acted as a bedrock to her approach. The curriculum entails the acquisition of many practical skills centred around care of self, care of others and care of the environment. Activities include those that aid eating and drinking, getting dressed, keeping the environment clean, using the bathroom and even grace and courtesy (basic social skills) including exchanging greetings, proper way to get past someone, accept a gift and many more. The child’s co-ordination skills are practiced through

many of these activities. Furthermore, the ability to complete activities; organise, execute and conclude, often self-chosen activities allows the child develop levels of concentration that are vital to all learning. Montessori children are encouraged to work, and allow others to do same, in an environment that fosters concentration. Again, there are many language opportunities here; as the child is given language for all the materials he works with before a presentation is made. His vocabulary is thus further broadened and his independence is positively harnessed towards his own educational journey. Culture In exposing children to culture even in the early stages of education, you provide

keys to the world. The child will utilise these keys in learning more about himself and the world around him. There are real learning opportunities in areas such as physical geography, history, arts, music and simple science. Why should we encourage children to believe a cow jumped over the moon and not let him know there are 7 continents in the world or that our world is made of land and water? As is synonymous with Montessori, these activities are introduced in a concrete fashion; allowing children learn through their senses. However, as children enter into the primary; equipped with the sensorial exploration, they are able to learn much more abstractly. Again, all the cultural materials are further enriched through

language opportunities at every level. Early, positive and informative awareness to various cultures allows for a tolerance and appreciation for others despite our differences. The Montessori child is culturally sensitive. Montessori offers a scientific, ordered and developmental approach to education. It does not offer miracles or quick fixes. Nothing actually does this and systems offering this often based upon only shallow and short term goals. Montessori works because it has been designed to do so. All these advantages Montessori brings can only be enjoyed in institutions that practice real Montessori. -Benson is the Head of The Libra House Montessori School

L-R: The Director, Training, SAP Training and Development Institute, Johann Pretorious; Sales Manager-West Africa, SAP Nigeria Limited, Titilayo Adewumi; the Chief Executive OďŹƒcer, SAP Africa, Cathy Smith, the Commissioner for Science and Technology, Lagos State, Hakeem Popoola Fahm; and the Director, Programmes Development ME North, SAP Training and Development Institute, Hussam Eddin Alkharrat, at the SAP YPP graduation event in Lagos... recently

SAP Africa Honours 26 Nigerian Graduates, Partners Covenant Varsity on Dual Study Programme As part of the public-privateacademic partnerships aimed at supporting young Nigerian talents, SAP Africa has recognised 26 outstanding Nigerian candidates who successfully completed a three-month intensive digital training and certification programme. The SAP Young Professional Programme is organised by SAP in partnership with the Deutsche Gesellschaft fĂźr Internationale Zusammenarbeit (GIZ) GmbH and hosted by Deloitte. The graduation ceremony, which held in Lagos recently, was attended by the Commissioner for Science and Technology, Mr. Hakeem Fahm, who represented Lagos State Government. In his remarks, Fahm said: “True transformation is only possible when there is a shift in mindset from the ordinary to the outstanding as exhibited by SAP with its efforts at putting an end to digital skills shortage which affects the growth and innovation potential of even the most successful global

organisations. “Around this time last year, we were all gathered here to celebrate the first crop of graduates of this programme, who have since then supported organisations to thrive in the digital era thanks to the knowledge and skills acquired from the programme. The intensity at which the SAP work-ready digital skills agenda is impacting lives is a testament to the fact that with proper grooming, African youths can indeed play active roles in the much-anticipated digital skills and technologies -dominated future economy.� The SAP Young Professional Programme, an initiative offered under the umbrella of SAP Skills for Africa, has since its launch in 2012, trained and graduated more than 990 youths across Africa and more than 2,550 talents globally. According to the Managing Director at SAP Africa, Cathy Smith, there is great urgency in equipping more African youths with digital skills, as more than 40 million

high-skilled workers will be needed globally by 2020. “Considering that youths account for 60 per cent of Africa’s unemployed, and that the continent has the largest and fastest-growing youth population in the world, it is imperative that we equip our young talent with the skills they need to be active participants in the global economy. “The overwhelming response so far, has further fuelled our organisation’s commitment to continue training programmes that will help empower the local communities by closing the digital skills gap; providing businesses with the right support system; and powering economic expansion.� Smith added: “We thank our customers and partners including Deloitte, Eta-Zuma Group, Oryx Systems Limited, Shell Nigeria and WYZE Consulting that hired recent programme graduates of the SAP Young Professional Programme in Nigeria and hereby join our efforts to enable today’s youth

for the digital era.� Graduates that form part of the Young Professional Programme undergo a rigorous selection process before embarking on the three-month full-time training programme, where they are equipped with SAP and soft skills needed to succeed in the modern workplace. This makes every graduate of the programme immediately employable in a range of public and private sector companies. Through SAP’s close partnership with its customers and industry partners, over 99 per cent of all programme graduates secure work placement upon graduation. One of the graduates from the inaugural programme in 2018, who is now employed at WYZE Consulting as SAP Presales and Delivery Consultant, Adedoyin Akande said: “Definitely, the Young Professional Programme was the major start of my career and the training equipped me with so much competence to help me kickstart my career.�

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38

CITYSTRINGS

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

In Pursuit of a Borderless Africa Chiemelie Ezeobi who was at the recently held 16th edition of Security Watch Africa Initiatives Conference in Dubai writes that the thrust of the discussion was the quest for a truly borderless Africa enhanced by collaboration and information sharing in border security management, all geared towards countering violent extremism

Cross section of participants drawn from across the African continent

W

ith the aim of identifying security problems affecting Africa and her people, discussing these problems and proffering actionable solutions, the Security Watch Africa Initiatives (SWAI) annual conference was borne about 16 years ago. Each year, the body draws from the wealth of experience of security decision makers and professionals, both within and outside the continent to facilitate the lectures. This year was no different- if anything, it gets better each year. The lecture series which was introduced in 2005 has taken the body almost round the globe in its quest to propagate African security and its complexities. This year, the lecture series which was themed “Global Security Outlook: Challenges, Impediments and Prospects for a Secured Africa�, held from November 6 to 7, 2019 at Swissotel, Al-Ghurair Centre, Dubai, United Arab Emirates, and had in attendance military and police chiefs, renowned academia and political leaders from West, Central, South and East African regions. Why the choice of Dubai? For President/ Chief Executive Officer, Africa Security Watch Initiatives, Mr Patrick Agbambu, the choice for this year's event in Dubai, was “for us to see what is on ground here and see how we can replicate same in our country�. Noting that the theme couldn’t have come at a better time that now, owing to the the threat of insecurity, both within the continent and other parts of the world, he explained that the initiative was borne out of the need to ensure security in the Africa continent and by extension, ensure its developmental process. "The future for SWAI is that we aspire that the whole of Africa will be covered and our security consciousness and awareness will improve�, he added. During the conference, there were opening remarks, keynote addresses and presentation of five papers that dwelled on African safety and security issues. The conference had two sessions which were chaired respectively, by Brigadier General Joseph Nunoo-Mensah (rtd), Chairman, Board of Trustees of Security Watch Africa Initiatives and Brigadier General Hussain Ahmed, Acting Provost Marshal, Nigerian Army, while Brigadier General Sani Kukasheka Usman (rtd), served as rappoteur. Paper Presentations The lead paper titled “Historic Perspective to Leadership and Security in Africa� was presented by Professor Wilhelmus Josephus Breytenbach, Emeritus Professor of Political Science, Stellenbosch University, South Africa, while the second paper, “Combating Terrorism and Insurgency Through Non-Kinetic Approach, was delivered by Major General Usman Shehu

L-R: SA on Creative Security, Anambra State, Vice Marshal Ben Chiobi (Rtd); Chairman, Board of Trustees SWA and former Chief of Defence Sta, Ghana, General Jospeh Nunoo-Mensah (Rtd); President/ Chief Executive OďŹƒcer, Africa Security Watch Initiatives, Mr Patrick Agbambu; and Chief of Policy and Plans of the Nigerian Army, Lieutenant General Lami Adeosun

L-R: President/ Chief Executive OďŹƒcer, Africa Security Watch Initiatives, Mr Patrick Agbambu; Stellenbosch University's Emeritus Professor of Political Science Wilhelmus Josephus Breytenbach; Prof. Samuel Tshehla, Executive Dean, Faculty of Military Science, Stellenbosch University, South Africa; Brigadier General Sani Kukasheka Usman (rtd), who served as rappoteur and Associate Professor, Stellenbosch University, Prof. Henri Fouche’ Mohammed, Chief of Civil-Military Affairs of the Nigerian Army. The third paper, “Combating Security at Sea: The African Experienceâ€? was presented by Professor Henri Fouche, an Associate Professor at Stellenbosch University, South Africa and

Chair of the Security Watch Africa Initiatives, while the fourth paper, titled, “The Effects of Irregular Migrants on National Security: The Gambian Experience� was delivered by Mr. Buba Sagnia, a former Director General, Gambian Immigration Services and member

of Security Watch Africa Initiatives’ Board of Trustees. The fifth paper, “Combating Transnational Crimes Through Counter Extremism Approach�, was delivered by Doctor Barend Prinsloo, a Senior Researcher, Security and Management

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CRIME&SECURITY Studies, North-West University, South Africa. On the award night, Governor Willie Obiano of Anambra State treated “Crime prevention, control and fighting in an emerging economy�. This was delivered by his Special Adviser on Creative Security, Air Vice Marshall Ben Chiobi (rtd). Also, Professor Samuel Tshehla, Executive Dean, Faculty of Military Sciences, Stellenbosch University, delivered a keynote address. Similarly, the Chief of Army Staff (COAS), Nigerian Army, Lieutenant General Tukur Buratai, represented by the Chief of Policy and Plans of the Nigerian Army, Lieutenant General Lami Adeosun, delivered a keynote address at the award dinner held at Radisson Blu Deira Creek, the next day, where 68 deserving individuals from security and safety agencies, media outfits, Non-Governmental Organisations (NGOs) and academia across the continent were honoured for exceptional and exemplary performances in their various fields. Despite the difference in the paper presentations, it was the general consensus that for African nations to contain the increasing insecurity plaguing the continent, member states must work together in joint border security management, as well as address issues such as religious extremism/ intolerance, bad governance, illiteracy, unemployment and poverty, which was identified as the root causes of insecurity in Africa. Also advocating for home-grown lasting solutions to tackle its problems in the continent, participants agreed that concerted efforts must be made towards the actualisation of a borderless United States of Africa by 2063, with calls for the rejection of unilateral "intervention packages" by foreign countries that were not cleared by the United Nations (UN) because such donors were self-serving and indirectly aiding criminals. Countering Insurgency: The Nigerian Example Using Nigeria as an example of how they have been countering insurgency and extremism, the Chief of Army Staff, Lieutenant General Tukur Buratai said there is a wider circle of convergence between internal security and external aggression as they now increasingly overlap. Speaking on the "role of the Nigerian Army in combating internal insecurity and external aggression: Global lessons and way forward," Buratai said fourth generation security threats transcended borders and must be tackled with multifaceted approaches. Represented by the Chief of Army Policy and Plans (CPPLANS) Lieutenant General Lami Adeosun, Buratai noted that in reality, “terrorism, insurgency, religious fundamentalism, militancy and other extreme criminalities have become a global phenomenon that transcends boundaries and are easily imported and exported by their perpetrators. Military solution is still very much part of the panacea, but is no longer the dominant solution to these myriad of challenges towards maintaining the territorial sovereignty of the state and the enforcement of law and order within the polity�. Citing Boko Haram Terrorism as an example, Buratai said estimates from the National Emergency Management Agency (NEMA) indicated that the sect has "killed between 30,000 to 100,000 people, caused the internal displacement of over two million people being accommodated in about 35 Internally Displaced Persons (IDP) camps and generated a refugee population of about 200,000 persons." However, he said current statistics showed that while "tens of thousands of the terrorists were killed, 5,475 of them were arrested and 32 bomb-making facilities/ factories have been destroyed. In addition, the number of Boko Haram fighters has been reduced significantly to less than 5,000 from the initial estimate of over 35,000 persons. "It is equally acknowledged that the army has lost officers and soldiers in the course of containing this internal security threat to the state. Clearly, through the efforts of the Nigerian Army, we are winning the war against Boko Haram. There is therefore a need for the army as well as the civil populace to realise the long-drawn nature of the engagement and the need to be persistent in the engagement of terrorists and insurgents. “There must be a determined political will by the ruling elite to fight terrorism and insurgency, which is to be based on ‘all government approach’, involving the executive, legislative and judicial arms of government.

L-R: Doctor Barend Prinsloo, a Senior Researcher, Security and Management Studies, North-West University, South Africa; Associate Professor, Stellenbosch University, Prof. Henri Fouche’; acting Provost Marshal, Nigerian Army, Brigadier General Hussain Ahmed; former Director General, Gambian Immigration Services and member of Security Watch Africa Initiative Board of Trustees, Mr. Buba Sagnia

L-R: ACP Lateef Ahmed, RRS Commander, DCP Tunji Disu and former LASEMA GM, Adesina Tiamiyu

The SWAI team drawn from Nigeria, The Gambia, South Africa and Ghana This was demonstrated by the USA in her over a decade’s pursuit and eventual hunting down of Osama bin laden. It took determination and a clear focus on the goal. "Furthermore, we must recognise that there is now a very wide area of convergence between internal security and external aggression. Modern warfare engagements are not conventional in nature. The parties are also not necessarily state actors. A lot of dynamism accompany these conflicts requiring flexibility and adaptability, by conventional troops involved. "The asymmetric nature of these engagements by non-state actors makes efforts at combating their menace very complex. In spite of these complexities, these terrorists and criminal elements have to be curtailed and their activities eliminated, by a wide range of activities with the citizenry or innocent civilians the focus of all considerations or simply people-centric operations. "We must intensify inter-state and international cooperation in the fight against

terrorism particularly in the Sahel Region of Africa. Apart from intelligence sharing on the movements and activities of insurgents and terrorists, there has to be an increase in the number of troops for joint deployments by the countries of the sub-region.� Consensus Agreement At the end of the expository lecture series, it was all agreed that Africa is indeed being confronted with myriads of safety and security challenges that need to be addressed. Succinctly put by the communique, to enhance security and economic development, African countries should make concerted efforts to actualise a borderless United States of Africa by 2063. The communique reads in part; �There is urgent need for more collaboration and information sharing in border security management; African countries need to take care of their respective border communities to enable them to be more security conscious. “The need to review international laws governing border security management

among African countries; African countries should emphasise on the importance of non-kinetic efforts in counter terrorism and counter-insurgency operations; Need to address the root causes of insecurity on the African continent such as religious extremism and intolerance, bad governance, illiteracy, unemployment and poverty. “There should be a better regional and international cooperation, coordination especially training and intelligence; African countries should have better and integrated border security management; The tracking of illicit financial flows should be intensified; African states should curb unilateral “intervention packages� by other countries, where not sanctioned by the United Nations. “To enhance security, African countries should improve on good governance, strengthen states and institutions, not weaken, corrupt or disrupt them; African countries should see terrorism and extremism as criminal issues that should be clearly defined, track and prosecute all those involved. “African states and organisations should understand the political, social, national “push� factors and regional geographical dynamics in fashioning out responses to security issues; and There should be continuous training programmes for stakeholders and security personnel such as the one organised by Security Watch Africa Initiatives.� About Security Watch Africa With a mission to bridge the gap of information that exists between security providers and security users, and between government and the governed, Agbambu said this provides an avenue for meaningful cross-fertilisation of ideas by security stakeholders. In the same vein, he noted that their vision is to see a security conscious African society, governments at all levels and in Africa’s CSR (Corporate Social Responsibility), with the end game being to see well motivated and informed security operatives in Africa. Thus, he stressed that SWAI strives to bridge the security information gap in the continent and ensure that Africans are on the cutting edge in comtemporary issues and solutions, as security and safety are everybody’s business. According to Agbambu, firstly, they seek to create security awareness and consciousness through their flagship television programme, which is being beamed to the world on Africa Independent Television (AIT) since 1997, where they extensively discuss and report security related information, issues and events against contemporary realities and experts in the industry present personal and professional opinions on the programme. Secondly, the SWAI Awards which was initiated and inaugurated in 2004, with the aim to recognise, appreciate, encourage and celebrate individuals, governments, agencies, brands and companies who have excelled in security administration, practice and governance in Africa. Thirdly, the SWAI lecture series which was introduced in 2005 and aims at identifying security problems affecting Africa and her people, discussing these problems and proffering actionable solutions. This they do by drawing from the wealth of experience of security decision makers and professionals, both within and outside the continent to facilitate the lectures.

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BUSINESS/MONEYGUIDE

Group Urges N’Assembly to Reject Budget Approval Request from NDDC’s IMC Hamid Ayodeji The National President of Ijaw Youth Council (IYC), Mr. Eric Omare has urged the National Assembly to disregard any budget approval request from Niger Delta Development Commission (NDDC) submitted by the Interim Management Committee (IMC), recently inaugurated by the Minister of Niger Delta, Chief Godswill Akpabio. Omare, in a statement, said under Section 18 of the NDDC Act 2000, only the substantive Board of the NDDC could submit a budget to the National Assembly for consideration. Section 18 of the NDDC Establishment Act, Number 6 of 2000, as amended, states that, “the Board shall not

later than 30th September in each year, submit to the National Assembly, through the President, Commander-in-Chief of the Armed Forces an estimate of the expenditure and income of the Commission during the next succeeding year for approval.� To this end, Omare said the National Assembly has a duty to defend the law. He maintained that the problem with NDDC since its inception was with non- adherence to the law establishing the Commission. According to him, “Instead of strictly complying with the law establishing NDDC, emphasis is placed on political patronage instead of using the NDDC as a platform to develop the Niger

Delta region.� The IYC president expressed regret that despite the Senate confirmation of a substantive Board for NDDC, the government has not deemed it fit to inaugurate the Board. “Given the myriad of problems in the region, we had looked forward to the inauguration of the Board, knowing that it will bring a level of sanity and stability to the Commission but unfortunately and to our surprise, the Minister of Niger Delta Affairs, Chief Godswill Akpabio set up an illegal Interim Management Committee that is not contemplated by the NDDC Act because under the Act there is no room for an interim management committee in the first place.�

Firm Launches Lab for Real Estate Stakeholders The LandWey has launched a pro-tech lab for all real estate stakeholders. The lab was expected to provide vibrant, innovative tools and technical know-how that would prove to be indispensable for every real estate player in the 21st century. Commenting on the initiative, a statement quoted LandWey’s Pro-Tech lab, Olawale Ayilara, who is the founder/CEO of Landwey stated: “Tech and all of its accompanying mechanisms is here to stay. We cannot be seen to be working against its ideals and

entrance, neither can we afford to be caught in the quagmire of obsoleteness. “We move along with the changing times; hence the birth of Prop-Tech Lab Nigeria, we realise that tech is showing its hands in virtually every sector, including real estate. “There has never been a better time to jump on tech-driven methodologies and operations, especially now as tech begins to gain ground in our sector, we have to move along its fine lines of development. “Prop-tech Lab will prove to be the opium of 21st century

real estate business, in scope, in processes, as storehouse of information, knowhow, industry innovation and market stats, study, projections, forecasts, basically everything a real estate player needs to do business smartly and tech-like in the times in which we live.� The Prop-Tech Lab Nigeria, expected to open on January 10, 2020, according to the promoters, would provide the much-needed boost in terms of practical information, innovative platforms and tools direly needed in the real estate sector in Nigeria.

Elumelu to Receive National Award The founder of The Tony Elumelu Foundation (TEF) and Chairman of the United Bank for Africa Group (UBA) and Heirs Holdings, Mr. Tony Elumelu will be conferred with the National Productivity Order of Merit (NPOM) Award by President Muhammadu Buhari, tomorrow. The honour would be in recognition of his continuous hard work and total commitment to the empowerment of youths in Nigeria and Africa. The award ceremony would be held in Abuja.

The NPOM Award was instituted by the federal government through the Ministry of Labour and Employment to honour deserving Nigerians in recognition of their hard work and excellence. In a letter from the Minister of Labour and Employment, Dr. Chris Ngige stated, “The President of the Federal Republic of Nigeria has approved the conferment of the National Productivity Order of Merit Award on you in recognition of your high productivity, hard work and excellence�. Elumelu is one of Africa’s lead-

ing investors and philanthropists, as well as the most prominent proponent of entrepreneurship in Africa. In 2010, he created The Tony Elumelu Foundation, a private-sector-led philanthropy empowering African entrepreneurs and championing African entrepreneurship on the continent. The Foundation’s flagship initiative, the TEF Entrepreneurship Programme, is a 10-year, $100 million commitment to identify, train, mentor and fund 10,000 young African entrepreneurs across 54 African countries.

L-R: Mr Abimbola Ibrahim of United Capital Trustees Ltd; Company Secretary, FSDH Asset Management Limited, Mrs Obaro Rora- Ogor; Head, Public Trust, United Capital Trustees Ltd/ Chairman of the occasion, Mrs Tadeni Balogun, and Director, FSDH Asset Management Limited, Mrs Mayowa Ogunwemimo,,at the general meeting of the Coral Growth Fund held in Lagos... 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)

Henley Business School Seeks Entrepreneurship Devt 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 inconnection with one another.

FG Urged to Support SMEs Sunday Okobi The management of Ultimate Onelove Empowerment and Investment Company Nigeria Limited, a loaning and investment and empowerment firm in Lagos, has charged the federal government, through the ministry of commerce, to constantly offer free and easy business development plans for those in the SME sector on the loans provided to

them for business. The firm also urged the government to intensify access to loans for small businesses as well as set up council to educate and supervise the growth of their businesses. These advices were offered to the government at a media briefing held in Lagos, to herald the company’s seventh year anniversary and end of the year party scheduled to hold in Lagos on December 1, 2019.

At the event, the Managing Director of the investment firm, Mrs. Lynda Eze-uneke, told THISDAY that the company has provided loans and business support to numerous SMEs in Lagos and the South-east region as well as offer them constant mentorship on proper management and growth small business, as she called on the government to complement their efforts on SMEs in the country.

Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ ÙÖÓĂ?ĂŁ Ă‹ĂžĂ? Ě‹ ͯ͹Ϲ

OPEC DAILY BASKET PRICE Ëœ Í°Íł Ͱ͎ͯ͡

The price of OPEC basket of fourteen crudes stood at $64.21 a barrel on Monday, compared with $64.56 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

41

T H I S D AY Ëž Ëœ Í°ÍľËœ Ͱ͎ͯ͡

MARKET NEWS

Global Spectrum Energy Grows Profit by 396%, Pays Interim Dividend Goddy Egene Shareholders of Global Spectrum Energy Services Plc (GSES) have hailed the performance of the firm in the year ended December 31, 2018 and nine months ended September 30, 2019. GSES, which is a marine security and logistics company, with added operational competencies in energy and engineering services in the oil and gas sector, posted a growth of 396 per cent in profit after

tax (PAT) to N548 million in 2018, up from N110.5 million in 2017. The firm ended the nine months to September 30 with a gross profit of N253.7 million while the directors recommended an interim dividend of five kobo per share. The shareholders at the annual general meeting (AGM) held on Monday in Lagos expressed satisfaction at the performance of the company, describing it as quite remarkable given the very

P R I C E S MAIN BOARD

F O R

DEALS

harsh and uncertain economic condition under which businesses operate in Nigeria. They also commended the company for the payment of an interim dividend barely 12 months after being listed on the Nigerian Stock Exchange (NSE). For instance, Yemi Adebayo said the profit growth was commendable, considering the fact that most organisations within the sector where GSES operates are still trying to find their feet in the very uncertain

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

business environment. He urged the board and management to remain focused to ensure that the performance is sustained. Similarly, Nona Awoh commended the company for the 2018 financial performance, but cautioned that the company should manage their dividend policy very in the face of capital challenges that companies currently face. He said the board should adopt a dividend policy that will enable the company build

T R A D E D MAIN BOARD

A S

up strong reserve for future capital investment and growth. In his address, the acting Chief Executive Officer (CEO) of GSES, Colm Doyle, said, the performance of the company was as a result of the competencies it demonstrated in its area of business. He said the company operates in a niche but very competitive sector of the oil and gas industry, maintaining that the good performance resulted from its policy of bringing on

O F

board the best skilled manpower. Doyle noted that GSES operational policies are derived strictly from the needs base of the clients, which is the reason the company remained a preferred partner with the international oil companies. Meanwhile, bears resurfaced as the domestic equities market recorded its first decline in six trading sessions. Consequently, the benchmark index dipped by 0.56 per cent to 26,883.33 yesterday.

2 6 / 1 1 / 2 0 1 9 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

42

˾ WEDNESDAY, NOVEMBER 27, 2019

Wednesday, November 27, 2019

Thisday Afrinvest 40 Index Sheds 0.6%

THISDAY AFRINVEST 40 INDEX

Yesterday, the Thisday Afrinvest 40 Index declined 60bps ƚŽ ƐĞƩůĞ Ăƚ ϭ͕Ϯϰϱ͘Ϯϲ͕ ĨŽůůŽǁŝŶŐ ůŽƐƐĞƐ ŝŶ ZENITH (-ϭ͘ϯйͿ͕ DANGCEM (-Ϭ͘ϯйͿ ĂŶĚ UBA (-ϰ͘ϭйͿ͘ dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵͲ

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ůĂƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ Ϯϰ͘ϱй ŽĨ ƚŚĞ ŝŶĚĞdž͘

Local Bourse Bows to Bear Pressure͙ ASI Down 0.6%

dŽĚĂLJΖƐ ƐĞƐƐŝŽŶ ĐůŽƐĞĚ ŽŶ Ă ŶĞŐĂƟǀĞ ŶŽƚĞ ĂƐ ƚŚĞ ^/ ƐŚĞĚ ϱϲďƉƐ ƚŽ ƐĞƩůĞ Ăƚ Ϯϲ͕ϴϴϯ͘ϯϯ ƉŽŝŶƚƐ͘ dŚĞ ďĞĂƌŝƐŚ ƉĞƌĨŽƌͲ ŵĂŶĐĞ ǁĂƐ ĚƵĞ ƚŽ ůŽƐƐĞƐ ŝŶ MTNN (-ϭ͘ϳйͿ͕ ACCESS (ϱ͘ϭйͿ ĂŶĚ UBA (-ϰ͘ϭйͿ͘ &ƵƌƚŚĞƌŵŽƌĞ͕ zd ůŽƐƐ ǁŽƌƐĞŶĞĚ to -ϭϰ͘ϱй ĂŶĚ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ĨĞůů ďLJ Eϳϯ͘ϲďŶ ƚŽ

Ticker

Current Price

THISDAY AFRINVEST 40

Price Change Index to Date

ROE

ROA

P/E

P/BV

Divindend Earnings Yield Yield

1,245.26

-0.60%

-15.2%

24.5%

15.5%

5.6%

5.6x

0.7x

6.9%

1

Guaranty Trust Bank PLC

29.80

0.7%

19.7%

-13.5%

-13.6%

32.9%

5.4%

4.5x

1.4x

9.2%

22.2%

2

Zenith Bank PLC

18.35

-1.3%

11.7%

-20.4%

-20.4%

24.3%

3.4%

2.9x

0.7x

15.2%

34.7%

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

9

International Brew eries PLC

10 SEPLAT Petroleum Development C

Eϭϯ͘ϬƚŶ͘ ĐƟǀŝƚLJ ůĞǀĞů ǁĂŶĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ

Price Previous Current Change Price W eightin YTD Change g

15.9%

144.00

-0.3%

8.1%

-24.1%

-22.6%

47.8%

23.1%

6.4x

2.9x

11.2%

15.7%

1,299.90

0.0%

8.4%

-12.5%

-11.9%

82.9%

26.3%

22.0x

18.2x

4.9%

4.5%

50.90

0.8%

4.3%

-40.5%

-35.0%

10.2%

4.6%

23.8x

2.5x

4.6%

4.2%

6.95

0.0%

5.5%

-12.6%

-13.1%

10.2%

1.2%

4.3x

0.4x

3.7%

23.0%

5.8%

5.4%

12.6x

0.7x

2.2%

7.9%

0.5x

12.1%

19.00

0.0%

5.2%

-2.1%

-2.1%

7.05

-4.1%

4.7%

-8.4%

-9.6%

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

6.7%

28.1%

9.30

-5.1%

5.5%

36.8%

43.1%

22.7%

2.2%

2.3x

0.5x

5.3%

42.8%

11 Access Bank PLC

4.7x

-14.9%

12 Ecobank Transnational Inc

7.00

0.0%

1.7%

-50.0%

-51.0%

13.8%

1.0%

2.3x

0.3x

13 Stanbic IBTC Holdings PLC

40.10

0.0%

2.6%

-16.4%

-16.4%

27.0%

4.0%

6.1x

1.5x

5.0%

14 Unilever Nigeria PLC

16.30

-6.6%

1.3%

-55.9%

-55.9%

3.4%

2.2%

35.4x

1.3x

9.2%

15 Lafarge Africa PLC

14.00

0.0%

2.2%

12.4%

16.7%

50.3%

23.4%

14.1x

0.6x

16 Guinness Nigeria PLC

31.00

0.0%

0.7%

-56.9%

-56.9%

4.8%

2.6%

15.9x

0.8x

5.3%

6.3%

DANGSUGAR ;ϭϴ͘ϵŵ ƵŶŝƚƐͿ ǁŚŝůĞ GUARANTY ;EϱϯϬ͘ϵŵͿ͕

17 Okomu Oil Palm PLC

49.65

0.0%

1.0%

-34.8%

-34.8%

18.3%

13.2%

8.8x

1.6x

4.0%

11.4%

18 Total Nigeria PLC

110.90

0.0%

MTNN ;EϱϮϮ͘ϬŵͿ ĂŶĚ ZENITH ;Eϰϰϳ͘ϬŵͿ ůĞĚ ďLJ ǀĂůƵĞ͘

0.8%

-45.4%

-45.4%

1.0%

0.2%

138.7x

1.5x

15.8%

0.7%

19 11 PLC

147.90

0.0%

1.2%

-20.3%

-20.3%

22.5%

10.6%

6.8x

1.4x

5.9%

14.6%

6.6%

ĨĞůů ϵ͘Ϭй ĂŶĚ ϯ͘Ϯй ƚŽ ϮϭϬ͘Ϭŵ ƵŶŝƚƐ ĂŶĚ Eϯ͘ϭďŶ ƌĞƐƉĞĐͲ ƟǀĞůLJ͘ dŚĞ ŵŽƐƚ ĂĐƟǀĞ ƐƚŽĐŬƐ ďLJ ǀŽůƵŵĞ ǁĞƌĞ UCAP

;Ϯϰ͘ϴŵ ƵŶŝƚƐͿ͕

ZENITH

;Ϯϰ͘ϭŵ ƵŶŝƚƐͿ

and

20 Flour Mills of Nigeria PLC 21 Oando PLC

Bullish Sector Performance ^ĞĐƚŽƌ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ďĞĂƌŝƐŚ ĂƐ ϰ ŽĨ ϲ ƐĞĐƚŽƌƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ ůŽƐƚ͘ dŚĞ ĂŶŬŝŶŐ ŝŶĚĞdž ůŽƐƚ ƚŚĞ ŵŽƐƚ ĂƐ price declines in ACCESS (-ϱ͘ϭйͿ͕ UBA (-ϰ͘ϭйͿ ĂŶĚ UBN (Ϭ͘ϳйͿ ĚƌĂŐŐĞĚ ƚŚĞ ŝŶĚĞdž ƐŽƵƚŚǁĂƌĚ ďLJ ϭ͘Ϯй͘ dŚĞ &Z-ICT ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ ƚƌĂŝůĞĚ͕ ĚĞĐůŝŶŝŶŐ ϭ͘Ϭй ĂŶĚ Ϭ͘ϳй ƌĞƐƉĞĐƟǀĞůLJ͕ ĨŽůůŽǁŝŶŐ ůŽƐƐĞƐ ŝŶ MTNN (-ϭ͘ϳйͿ͕ AIICO (ϵ͘ϭйͿ ĂŶĚ NEM (-ϰ͘ϴйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞdž ƐŚĞĚ Ϭ͘ϭй ĨŽůůŽǁŝŶŐ ůŽƐƐĞƐ ŝŶ DANGCEM (-Ϭ͘ϯйͿ͘ dŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚĞdž ǁĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶĞƌ͕ ƵƉ ϯϴďƉƐ ĚƵĞ ƚŽ ŐĂŝŶƐ in DANGSUGAR ;нϱ͘ϴйͿ͕ FLOURMILL

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ tĞĂŬĞŶƐ /ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ĨĞůů ƚŽ ϭ͘Ϭdž ĨƌŽŵ ϭ͘ϯdž ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ƉƌĞǀŝŽƵƐ ƐĞƐƐŝŽŶ ĂƐ ϭϳ ƐƚŽĐŬƐ ŐĂŝŶĞĚ ĂŐĂŝŶƐƚ ϭϳ ůŽƐͲ ĞƌƐ͘ dŚĞ ƚŽƉ ŐĂŝŶĞƌƐ ǁĞƌĞ REGALINS ;нϭϬ͘ϬйͿ͕ SOVREN-

2.0%

1.1%

-21.2%

-18.0%

3.6%

1.3%

14.2x

0.5x

3.85

0.0%

1.1%

-23.0%

-19.8%

14.5%

2.6%

1.7x

0.2x

16.3% 2.8% 7.1%

7.1% 60.3%

22 Fidelity Bank PLC

2.00

-1.5%

1.3%

-1.5%

-1.5%

12.5%

1.4%

2.3x

0.3x

5.5%

23 Transnational Corp of Nigeria

1.02

-6.4%

0.9%

-22.7%

-20.9%

11.7%

2.6%

5.2x

0.6x

2.9%

19.1%

24 Dangote Sugar Refinery PLC

14.60

5.8%

1.1%

-4.3%

-1.4%

19.6%

11.6%

8.7x

1.7x

7.7%

11.5%

26 FCMB Group Plc

2.01

-0.5%

0.8%

6.3%

11.7%

9.2%

1.2%

2.4x

0.2x

7.0%

41.9%

27 UAC of Nigeria PLC

7.40

1.4%

0.5%

-24.1%

-22.5%

-24.5%

-11.3%

8.2x

0.4x

8.8%

12.2%

44.4%

25 Diamond Bank PLC

28 Sterling Bank PLC

2.00

0.0%

0.6%

5.3%

5.3%

8.0%

0.8%

6.6x

0.5x

29 Presco PLC

37.85

0.0%

0.3%

-40.9%

-40.9%

5.2%

3.0%

14.0x

1.5x

5.3%

7.1%

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

18.10

0.0%

0.2%

-34.1%

-35.4%

7.6%

1.3%

32 Union Bank of Nigeria PLC

7.05

-0.7%

0.5%

25.9%

25.9%

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

100.6%

37.1%

34 PZ Cussons Nigeria PLC

15.1%

1.4x

-1.5% 8.9% 10.5%

35.5%

5.25

0.0%

0.1%

-56.6%

-57.3%

24.20

0.0%

0.2%

-30.6%

-30.6%

36 Wema Bank PLC

0.73

0.0%

0.3%

15.9%

15.9%

9.0%

0.9%

5.9x

0.5x

4.1%

16.9%

37 Beta Glass PLC

53.80

0.0%

0.2%

-21.2%

-21.2%

17.8%

12.5%

5.0x

0.8x

2.4%

20.2%

38 Dangote Flour Mills Plc

22.25

35 Chemical and Allied Products P

91.6x

0.5x

2.9%

1.1%

8.3x

8.4x

12.0%

12.0%

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

40 AXA Mansard Insurance PLC

1.69

0.0%

0.1%

-7.7%

-7.7%

9.4%

2.6%

5.8x

0.8x

;нϮ͘ϬйͿ ĂŶĚ NIGERIAN BREWERIES ;нϬ͘ϴйͿ ǁŚŝůĞ ƚŚĞ Kŝů Θ 'ĂƐ ŝŶĚĞdž ĐůŽƐĞĚ ŇĂƚ͘

18.20

44.3%

T o p 10

T ic k er

G a ine rs

P ric e

T o p 10

4.0x

T ra de s

-10.1% 3.0%

5.0% 17.1%

by V o lum e

P ric e C hg %

T ic k er

Vo lum e

P ric e C hg %

R EGA LIN S

0.22

10.0%

UC A P

24.8

1.7%

SOVR EN IN S

0.22

10.0%

Z EN IT H B A N K

24.1

-1.3%

N EIM ET H

0.67

9.8%

D A N GSUGA R

18.9

5.8%

J A IZ B A N K

0.75

8.7%

GUA R A N T Y

17.8

0.7%

LA SA C O

0.27

8.0%

FB NH

14.6

0.0%

CHA M S

0.42

7.7%

F ID ELIT YB K

12.5

-1.5%

F ID SON

3.75

7.1%

A C C ESS

12.0

-5.1%

D A N GSUGA R

14.60

5.8%

UB A

11.5

-4.1%

R OYA LEX

0.21

5.0%

T R A N SC OR P

10.8

-6.4%

J A P A ULOIL

0.22

4.8%

J A IZ B A N K

4.9

8.7%

INS ;нϭϬ͘ϬйͿ ĂŶĚ NEIMETH ;нϵ͘ϴйͿ ǁŚŝůĞ AIICO (-ϵ͘ϭйͿ͕ T o p 10

Lo s e rs

T o p 10

T ra de s

by V a lue

UNILEVER (-ϲ͘ϲйͿ ĂŶĚ TRANSCORP (-ϲ͘ϰйͿ ůĞĚ ůŽƐͲ ĞƌƐ͘ ĞƐƉŝƚĞ ƚŽĚĂLJΖƐ ůŽƐƐ͕ ǁĞ ĞdžƉĞĐƚ ŝŶǀĞƐƚŽƌƐ ƚŽ ƚĂŬĞ ƉŽͲ ƐŝƟŽŶƐ ŝŶ ĨƵŶĚĂŵĞŶƚĂůůLJ ƐŽƵŶĚ ƐƚŽĐŬƐ͕ ƉĂǀŝŶŐ ǁĂLJƐ ĨŽƌ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ͘

T ic k er

P ric e

P ric e C hg %

A IIC O

0.70

-9.1%

GUA R A N T Y

530.1

0.7%

UN ILEVER

16.30

-6.6%

M TNN

522.0

-1.7%

T R A N SC OR P

1.02

-6.4%

Z EN IT H B A N K

447.0

-1.3%

A C C ESS

9.30

-5.1%

D A N GC EM

394.6

-0.3%

N EM

2.00

-4.8%

N EST LE

280.8

0.0%

UN IT YB N K

0.65

-4.4%

D A N GSUGA R

272.7

5.8%

UB A

7.05

-4.1%

A C C ESS

112.9

-5.1%

C OR N ER ST

0.75

-3.8%

FB NH

101.1

0.0%

A F R OM ED IA

0.36

-2.7%

UB A

81.0

-4.1%

118.00

-1.7%

F LOUR M ILL

65.8

2.0%

M TNN

Afrinvest West Africa Limited

T ic k er

Value

P ric e C hg %

Brokerage

Asset Management

Investment Research

Ayodeji Ebo | aebo@afrinvest.com

Ola Belgore | obelgore@afrinvest.com

Abiodun Keripe | AKeripe@afrinvest.com

Adedoyin Allen | aallen@afrinvest.com

Oluwarotimi Ashimi | oashimi@afrinvest.com

Adedayo Bakare | abakare@afrinvest.com

43

WEDNESDAY, NOVEMBER 27, 2019 ˾ T H I S D AY

MARKET NEWS

FMDQ Securities Exchange Lists 500m Units of SFS Fixed Income Fund Goddy Egene

trust scheme under Section 160 bank. In addition, the fund may of the Investment and Securities also be invested in high quality FMDQ Securities Exchange Act 2007. The Fund, which targets short-term securities such as has approved the listing of investors, including individuals Commercial Papers and Bankers’ 500,000,000 units of N1.00 each and institutions with low risk Acceptances. FMDQ explained in a of SFS Fixed Income Fund on appetite and who are averse to its platform. The SFS Fund is high fluctuation in investment statement that from global structured as an open-ended returns, amongst others, will visibility to governance, the fixed income investment be invested in interest-bearing SFS Fund joins a host of other scheme, duly authorised and investments through any Central securities listed on the exchange registered in Nigeria as a unit Bank of Nigeria (CBN)-approved to benefit from the value-add A Mutual fund (Unit Trust) is an investment floor of the Nigerian Stock Exchange. vehicle managed by a SEC (Securities and A REIT (Real Estate Investment Trust) is an Exchange Commission) registered Fund Manager. investment vehicle that allows both small and Investors with similar objectives buy units of the large investors to part-own real estate ventures (eg. Fund so that the Fund Manager can buy securities Offices, Houses, Hospitals) in proportion to their that willl generate their desired return. investments. The assets are divided into shares that An ETF (Exchange Traded Fund) is a type are traded on the Nigerian Stock Exchange. of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, GUIDE TO DATA: etc.) and divides ownership of those assets into Date: All fund prices are quoted in Naira as at 25shares. Investors can buy these ‘shares’ on the Nov-2019, unless otherwise stated.

and tailored service which an to foster development in the FMDQ Exchange listing avails. Nigerian financial market “A formal listing ceremony to through its exchange, clearing commemorate the admittance of and depository infrastructures, this Fund on FMDQ Exchange thereby providing a seamless shall be held in due course. process and value-chain for As a systemically important the markets to execute, clear financial market infrastructure and settle their transactions,” positioned to drive innovation, FMDQ said. collaborative relationships and The Managing Director/Chief technology, FMDQ strives Executive Officer of FMDQ 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.

Exchange, Mr. Bola Onadele. Koko, recently said that the development of the exchange over the last five years was reflective of the progressive and dedicated strategic leadership provided by its board of directors, as well as the company’s ever-intensifying commitment to proactively deliver value to its stakeholders.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 146.82 149.46 -6.47% Afrinvest Plutus Fund 100.00 100.00 14.70% Nigeria International Debt Fund 298.04 298.04 10.48% 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 6.10% ACAP Income Funds 0.77 0.77 34.41% 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 11.44% AIICO Balanced Fund 2.42 2.46 9.39% 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 14.98 15.43 -9.74% ARM Discovery Fund 341.73 352.03 -4.18% ARM Ethical Fund 28.78 29.64 1.90% ARM Money Market Fund 1.00 1.00 11.23% 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 96.82 97.50 -4.32% AXA Mansard Money Market Fund 1.00 1.00 10.31% 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 1.88 1.88 13.67% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 10.54% Cordros Milestone Fund 2023 98.19 98.89 Cordros Milestone Fund 2028 100.20 101.07 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 10.77% Coronation Balanced Fund 0.92 0.92 7.20% Coronation Fixed Income Fund 1.31 1.31 17.32% 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 11.16% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 10.34% EDC Nigeria Fixed Income Fund 1,176.81 1,182.59 18.01% 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 1,249.31 1,250.40 17.09% FBN Balanced Fund 143.20 144.18 0.29% FBN Money Market Fund 100.00 100.00 11.46% FBN Nigeria Eurobond (USD) Fund - Institutional 118.62 118.92 9.02% FBN Nigeria Eurobond (USD) Fund - Retail 119.16 119.47 9.76% FBN Nigeria Smart Beta Equity Fund 129.63 131.31 -13.58% 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 11.05% Legacy Debt Fund 3.62 3.62 11.59% Legacy Equity Fund 1.09 1.11 -10.54% Legacy USD Bond Fund 1.08 1.08 4.57% 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 3,044.20 3,077.28 2.04% Coral Income Fund 3,062.68 3,062.68 11.75% FSDH Treasury Bills Fund 100.00 100.00 12.33% 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 11.57% Vantage Balanced Fund 2.19 2.21 1.38% Vantage Guaranteed Income Fund 1.00 1.00 13.44% Kedari Investment Fund (KIF) 141.46 141.61 13.21% 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 1.16 1.18 5.79% Lotus Halal Fixed Income Fund 1,113.73 1,113.73 11.77% 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 1.36 1.38 9.83% PACAM Fixed Income Fund 12.29 12.35 9.74% PACAM Money Market Fund 10.00 10.00 11.77% PACAM Equity Fund 1.06 1.06 PACAM EuroBond Fund 102.45 104.48 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 128.27 129.60 6.55% 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 12.55% 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 2,456.29 2,467.53 6.08% Stanbic IBTC Bond Fund 209.35 209.35 12.47% Stanbic IBTC Ethical Fund 0.85 0.86 -10.00% Stanbic IBTC Guaranteed Investment Fund 272.12 272.21 12.13% Stanbic IBTC Iman Fund 147.39 148.91 -9.69% Stanbic IBTC Money Market Fund 100.00 100.00 10.97% Stanbic IBTC Nigerian Equity Fund 7,535.67 7,616.29 -11.29% Stanbic IBTC Dollar Fund (USD) 1.15 1.15 6.51% Stanbic IBTC Shariah Fixed Income Fund 101.69 101.69 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 10.24 10.39 -9.26% Zenith Ethical Fund 11.23 11.38 -10.34% Zenith Income Fund 22.71 22.71 12.32% Zenith Money Market Fund 1.00 1.00 9.94%

REITS NAV Per Share

Yield / T-Rtn

5.40 118.34 53.38

-44.85% 6.46% 3.17%

Bid Price

Offer Price

Yield / T-Rtn

8.24 90.38 71.96

8.34 92.33 73.32

-17.05% -20.17% -16.19%

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

3.60 5.28 12.10 10.64 161.45

3.64 5.36 12.20 10.84 163.45

-9.84% -30.60% -17.19% -13.83% 21.39%

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.

44

WEDNESDAY NOVEMBER 27, 2019 •T H I S D AY

WEDNESDAY NOVEMBER 27, 2019 • T H I S D AY

45

46

WEDNESDAY NOVEMBER 27, 2019 ˾ T H I S D AY

INTERNATIONAL

13 French Troops Die in Mali Chopper Crash The French military has suffered one of its heaviest death tolls in decades with the loss of 13 soldiers when two helicopters crashed in Mali. The helicopters apparently collided at low altitude while preparing to attack a group of jihadists, who were being tracked by French commandos, the French general staff said on Tuesday. All those on board, including six officers and six noncommissioned officers, were killed in the crash, which took place at about 6:40 p.m (1840 GMT). The troops were part of Operation Barkhane, a 4,500-strong French force which backs up local military in the Sahel region against Islamist extremists. “These thirteen heros had only one goal: to protect us,” French President Emmanuel Macron wrote on Twitter. French troops have been posted in Mali since 2013, when they helped restore government

control over the north of the country. The region had fallen to al-Qaeda-associated militants in the aftermath of a local uprising and a military coup the previous year. Malian President Ibrahim Aboubacar Keita too paid tribute to the dead soldiers. “They died for Mali, they died for the Sahel, they died for liberty and they died for the people,” Keita said in a statement. The French are now also operating from bases in Niger and Chad against Islamist militant groups, who are currently active across the Sahel region. Monday’s operation took place in the Liptako area, in the troubled “tri-border region” where Mali, Burkina Faso and Niger meet. The French military said their commandos had been operating on the ground in the area for several days. Hours before the incident, they picked up the trail of a group of jihadists, who were in a pick-up truck and on motorbikes.

Helicopters and warplanes were called in to back up the mission. A Cougar helicopter, carrying six mountain commandos and a mission commander, joined the force to coordinate the action and to be prepared to “extract” a person from the ground, the general staff said. However, it crashed into a Tigre helicopter “while manoeuvring to prepare engagement of the enemy,” and the two helicopters crashed to the ground a short distance apart, killing all on board. As of Tuesday morning, large numbers of Operation Barkhane forces were in place for rescue operations and to secure the area, the military said. The incident comes weeks after 53 Malian soldiers and a civilian were killed in a suspected jihadist attack on a military post in the north of the country. According to newspaper Le Figaro, 23 French soldiers in total had died in Mali as of Nov. 10.

White House on Lockdown as Plane Enters Restricted Space The US Air Force scrambled jets Tuesday after reports of an unidentified aircraft in restricted airspace over Washington forced a brief lockdown in the White House. Washington airspace restrictions were severely tightened after the September 11, 2001 attacks on New York and Washington. The North Lawn of the

White House has been since been cleared, and pedestrian traffic in the area restricted. NBC reports that North American Aerospace Defense Command has tasked aircraft to respond to the security alert. Reporters trying to enter have been told there is an ’emergency,’ tweeting that agents have locked everything down and begun blocking

roads around the Capitol in Washington DC. Those already in the White House have been told to stay put, according to tweets from reporters at the scene. The Mirror reports that all government buildings are being evacuated; while reporters in the White House briefing room are tweeting that it has been locked.

Southern Africa Countries Want Single Visa System Implementation Member countries of the Southern African Development Community (SADC) on Tuesday met in Angola to assess the consolidation of security aspects for the implementation of the single visa system (UNIVISA) in the region. According to a note released

from the Angolan Foreign Affairs Ministry, the four-day meeting will also analyse the SADC juridical agreement, which establishes the single visa system implementation. SADC wants to implement a UNIVISA to allow easier movement and accessibility

of resort areas by tourists in the region and citizens of the region and to promote intraregional trade. The pilot phase of the SADC single visa system is currently being implemented by Angola, Botswana, Mozambique, Zambia and Zimbabwe.

About Half of US Citizens Support Trumps Impeachment No fewer than half of US citizens believe President Donald Trump should be impeached, while 43 per cent oppose such a measure, according to a new poll from broadcaster CNN. The poll also revealed a partisan bifurcation, which has persisted even after lawmakers held public hearings with key diplomats, who by and large pointed their fingers at the White House. The poll said Trump’s team pressured Ukraine to dig up dirt on his political rival. Independent voters were split, with some 47 per cent in favour and 45 per cent opposed

to removing the president from office, something that has never happened in U.S. history. FiveThirtyEight, a firm that amalgamates data from different polls, found that 83 per cent of the centre-left Democrats support impeachment, up from 71 per cent before the Ukraine scandal broke. Among independents, the number went up from 33 per cent to 43 per cent. Republicans are still largely supporting their president, with only 11 per cent in favour of removing Trump from office, a number which has only slightly edged higher since September.

While only a simple majority in the lower chamber, the House of Representatives, is needed to impeach a president, a two-thirds majority in the Senate is needed to remove the top elected official from the White House. Democrats control the House, but Republicans have a majority in the upper chamber. In the CNN poll, Trump had a 42 per cent approval rating, though it noted a sharp divergence between genders – 52 per cent of men approve versus 32 per cent of women. Elections are due next November.

Heavy Rains Kill 36 in DR Congo Thirty-six people died in the DR Congo capital Kinshasa after torrential overnight rains, with some swept away by landslides, a top city official said Tuesday, giving a provisional toll.

“The (provincial) interior minister has just advised of a toll of 36 dead. The search (for survivors) is continuing. The loss, in terms of property and lives, is really huge,” Kinshasa’s vice governor, Neron

Mbungu, told AFP. At least two bridges collapsed as well as a part of a major road in the capital, Mbungu said, adding that the dead included a child who was electrocuted.

47

WEDNESDAY NOVEMBER 27, 2019 ˾ T H I S D AY

NEWS

Zamfara Assembly Repeals Law Authorising Pension for Ex-governors Davidson Iriekpen with agency report The Zamfara State House of Assembly yesterday became the first state to abolish the law that allows the payment of pension and other allowances for former governors and their deputies. The spokesperson of the state’s assembly, Mustapha Jafaru, in a statement made available to journalists said the ‘abolished’ law also affects ex-speakers of the state House

of Assembly and their deputies. The development is coming days after a former governor, Abdul’aziz Yari, in a leaked letter to the state government, requested his N10 million ‘monthly upkeep’, which he said had not been paid for some months. The media aide to Governor Bello Matawalle, Yusuf Idris, yesterday confirmed that Yari had written the request. He said two days later he (Yari) also sent another letter

Gunmen Kill Police Orderly, Abduct Three Chinese in Osun Yinka Kolawole in Osogbo No fewer than three Chinese expatriates have been reportedly abducted by some gunmen in Itagunmodi, Osun State THISDAY yesterday gathered that the expatriates were said to be working at a mining site located in the town when they were apprehended by some gunmen on Monday. It was gathered that the police orderly that was attached to them was reportedly killed

of reminder demanding the payment. However, the state House of Assembly yesterday abolished the law authorising the payment of pensions to these categories of former officials. Presenting the bill before the assembly, the House Leader, Faruk Dosara, (PDP Maradun), urged his collogues to consider the ‘complete repeal’ of the law, “which provides the jamboree payment for the former political leaders of the state at the detriment of the retired civil servants who have not been paid their entitlements over the years.” According to the lawmaker,

these categories of past leaders “are collecting over N700 million annually,” which he said the present economy cannot accommodate. Seconding the motion, Tukur Birnin-Tudu, PDP member representing Bakura Local Government Area said the abolition of the law is necessary. After deliberations, the Speaker, Nasiru Magarya, pushed the process; the bill passed both first and second readings. Later, the assembly went for a committee of the whole after which the bill went for a third reading. The bill will now be sent to the governor for his

assent, the spokesman said. “With this development, all past political leaders in Zamfara will longer enjoy any entitlements unless those prescribed by the National Revenue Mobilisation Allocation and Fiscal Commission (NRMAFC),” Jafaru quoted the speaker as saying in the statement. Yari, it would be recalled had appealed to his successor, Bello Matawalle, to pay his outstanding allowance and pension. In a letter dated October 17 and addressed to the governor, Yari said he was entitled to N10 million monthly as upkeep

allowance, but that he has only been paid twice since he left office. In the letter obtained by THISDAY, Yari said the law which provides for the entitlement of former governors, deputies, speakers and deputy speakers was amended in March and that it should not be truncated. The law, which first enacted in Lagos in 2007, has seen practically all former governors except Governor of Anambra State, Mr. Peter Obi, who turned down the idea, committed their states to write laws which entitle them humongous pension and entitlements for life.

during the attack. It was also learnt that one of the expatriates, who attempted to escape, was equally shot. He was, however, said to be receiving treatment at the OAU Teaching Hospital, Ile Ife. When contacted yesterday, Public Relations Officer, Osun State Police Command, Mrs. Folashade Odoro, said she was on annual leave, but effort to get the state Police Commissioner, Abiodun Ige, to confirm the incident did not yield positive results.

Lawan: N’Assembly to Pass 2020 Budget Next Wednesday Deji Elumoye in Abuja Senate President, Dr. Ahmad Lawan, yesterday hinted that the 2020 budget proposal presented to the National Assembly by President Muhammadu Buhari on October 8, will be passed by the two chambers next Wednesday. Lawan, who spoke while receiving in audience a delegation from the Institute of Chartered Accountants of Nigeria (ICAN) who paid him a courtesy visit, said both chambers of the National Assembly may pass the 2020 budget by next week Wednesday. According to him, the Senate and House Committees on Appropriation sought a one week extension to enable them conclude work on the report of the 2020 Appropriations Bill to be laid next Tuesday. His words: “We want to pass the budget 2020 before the end of the year. Actually, today would have been the day for laying the budget, but our committees on appropriations sought for an extension by one week only. “By Tuesday next week, we expect the budget 2020 to be laid before the two chambers of the National Assembly. It is our desire to pass the budget the following day Wednesday. So we are thinking the budget would be laid on the 3rd of December, and by December 4, (on Wednesday), the Senate and the House of Representatives should be able to pass the 2020 budget.”

The Senate President also sought the partnership of ICAN with the National Assembly in ensuring accountability and transparency on the part of agencies tasked with revenue generation, collection and remittance. “We need your support in the National Assembly. We have particularly three committees that require the kind of support that you will give. First, we have the Committee on Finance. As a committee, we need the support of ICAN. Going forward, there are so many challenges that will come up in the implementation of the laws. One area we have a challenge today is the area of revenue generation, collection and remittance. “Until we are able to generate sufficient revenues, most of our hopes and aspiration will continue to give us a lot of challenges in realising them. “So we need a situation where we will continue to engage the revenue agencies. We want to see transparency in all that they do. We want to ensure that where there are challenges in terms of legislation, that we provide the intervention they require to be efficient and effective. One thing we are determined to ensure is that whatever is generated is remitted to the federation account as provided in the constitution. So, Accountants will be very fundamental in what we are going to do.”

NEW INVESTMENTS ON THEIR MINDS…

L-R: Group Managing Director of Nigerian National Corporation (NNPC), Malam Mele Kyari; Chief Executive Officer of Royal Dutch Shell Plc , Mr. Ben Van Beurden; President Muhammadu Buhari; and Minister of State for Petroleum, Mr. Timpre Sylva, during visit of CEO of Royal Dutch Shell Plc to the Presidential Villa, Abuja...yesterday

Robbers Attack THISDAY’s Executive Director, Others in Lagos Traffic Chiemelie Ezeobi THISDAY’s Executive Director and and Arise TV analyst, Mr. Emmanuel Efeni, his kids and other motorists, have fallen victims of traffic robbers who take advantage of the perennial gridlock in Lagos to attack unsuspecting motorists. Efeni and others were attacked by these traffic robbers on the long bridge along the Lagos-Ibadan Expressway yesterday morning. As was the norm in the past couple of months, motorists were stuck on the bridge due to the gridlock, when the robbers struck and dispossessed them of their belongings. Armed with sharp objects, the gang in true Gestapo-style,

broke the side mirrors of the cars stuck in the traffic and robbed the occupants of their valuables. The robbers held sway at the entire axis for several minutes before the motorists, who were tired of the assault, mustered courage and retaliated. Recounting his ordeal, Efeni said the dare-devil robbers took advantage of the traffic gridlock on Lagos-Ibadan Expressway to attack Lagos-bound commuters early on long bridge. He said: “The traffic logjam has become constant as a result of the partial closure of the Berger Bridge for the ongoing construction of the expressway. “The robbers emerged from under the long bridge to attack motorists who were literally at

a standstill. Several men with iron rods and cutlasses at about 5.15 a.m. emerged from under the long bridge and started smashing the side glasses of cars and dispossessing passengers of their valuables. “They got to my car, smashed the glass of the front passenger where my daughter was sitting and were asking in northern intonation, ‘where is the money?, bring the money”. “We were terribly frightened as they moved from car to car. It took some group of men who mobilised other drivers from their cars who came out with their spanners, cutlass and whatever they could lay their hands on to confront the thieves. “With the large number of men approaching, the robbers

took to their heels and jumped under the bridge with their loot.” This incident came barely a week after the new Commissioner of Police, Lagos State Command, CP Hakeem Odumosu, declared a state of emergency on traffic management and control in the state. One of the measures he mapped out was the review of the time for duty report for traffic officers to take care of the peak hours. He said traffic duty officers will run shifts between 10a.m. and 10 p.m. while the second shift will be 10p.m. to 10a.m., providing 24 hours coverage. This he said would ensure free flow of traffic and will also curb the menace of traffic robbery.

Another Catholic Priest Kidnapped in Enugu The harvest of kidnapping of Catholic priest seems not to have abated in Enugu State as another was abducted Monday night. The priest whose name was given as Reverend Father Malachy Asadu, was said to have been kidnapped in

Nsukka, along Imilike-Nsukka Road while he was said to be returning from a diocesan meeting held at St. Therea’s Cathedral, Nsukka. The latest abduction brought to nine the number of Catholic priests abducted in Enugu in

recent times. Two were unlucky not to have returned alive. The State Police Command has confirmed the abduction of the clergyman. Police spokesman, Ebere Amaraizu, who confirmed

the kidnap incident, said that details of the priest’s abduction were still sketchy. Amaraizu, however, said the police have commenced a manhunt for the hoodlums with a view to securing the priest unhurt.

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EFCC Arrests Kirikiri Prison Boss, Doctor over $1m Scam Kingsley Nwezeh in Abuja The Economic and Financial Crimes Commission (EFCC) yesterday said it had arrested the Comptroller of the Nigerian Correctional Service (NCoS), Kirikiri, Lagos, Mr. Emmanuel Oluwaniyi and a medical doctor, Hemesin Edwin, a Deputy Controller (DC), for their alleged involvement in the $1million scam pulled by a convicted inmate Olusegun Aroke. They were alleged to have given Aroke, a prisoner on 24year jail term, an exaggerated medical report that enabled his referral for treatment outside the prison facility. Aroke, an internet scam kingpin, was accused of masterminding a mega fraud, which he allegedly committed using a network of accomplices. According to a statement posted on the commission’s

website, the duo was arrested on Monday and they have made useful statement about their alleged involvement in the crime. The EFCC recalled that Aroke was one of the two Malaysia-based Nigerian undergraduate fraudsters arrested towards the end of 2012 at the 1004 Housing Estate, Victoria Island, following a tip-off. A native of Okene in Kogi State, the suspect, the EFCC said, had claimed upon arrest that he was a student of Computer Science at the Kuala Lumpur Metropolitan University, Malaysia. “However, investigations by the commission revealed that Aroke was the arrowhead of an intricate web of internet fraud schemes that traversed two continents. “When Aroke was arrested, a search conducted by EFCC

CJN Asks Lawyers to Desist from Addressing Journalists on Court Proceedings Inaugurates 4, 456 new lawyers Alex Enumah in Abuja The Chief Justice of Nigeria (CJN), Justice Ibrahim Mohammad yesterday frowned at lawyers who are in the habit of talking to journalists on cases pending at the courts, stressing that such actions are unethical and unprofessional as lawyers. Justice Muhammad said the legal professional is a noble profession that demands high level of integrity and honesty from practitioners, adding that cases should not be all about winning but about justice. The CJN spoke at the callto-Bar ceremony of 4, 456 law graduates of the Nigerian Law School, which held at the headquarters of the Nigerian Law School in Abuja. “Sadly, we are beginning to see a new trend in the legal profession where lawyers on so many occasions address press conferences over matters pending in courts and in some instances claiming victory for their clients on matters the Judge is yet to rule. “More worrisome is that some lawyers address the media while being fully robed. These conducts are considered unethical and unprofessional. I call on the Nigeria Bar Association (NBA) to take necessary action,” the CJN said. According to Muhammad, lawyers should at all times speak the truth to their clients and not playing to the gallery. While urging the new wigs not to forget what the calling of the legal profession is all about, the CJN emphasised that, “It is not about winning or telling a client what he or she wants to hear. It is about ensuring that justice is done to all manners of person(s)”. Muhammad added that the legal profession is known for its sanctity, integrity, honesty, objectivity, justice and the rule of law and charged them to exhibit

the highest level of professional ethics and decorum. “You must be steadfast and preserve the honour and dignity of the legal profession. I urge you to be courageous and be bold enough to thread new grounds”, Justice Muhammad said. He however enjoined lawyers to once in a while render free legal services to people who cannot afford it. “At some point as a lawyer you may be confronted by people who need legal services, but cannot afford it; try in any way possible to provide legal assistance to such persons. “Our noble profession must not be one where costs can make redress meaningless,” Muhammad added. In his remark, Director General of the Law School, Prof. Isah Hayatu Chiroma (SAN) said out of the number of candidates called to the Nigerian Bar, 147 candidates came out with first class. Chiroma said while 741 candidates graduated with second class upper, 2, 247, came out with second class lower, and 1, 321 with a pass. Chiroma assured that the Nigerian Law School will remain the gatekeeper of the legal profession and will continue in upholding the standard and integrity of the Bar. The DG stated that the Nigerian Law School, which is about 56 years of existence has had uninterrupted session as there has never been any incident of closure of the institution on account of student unrests, strike action by staff or for any other reason. Chiroma disclosed also that the Nigerian Law School had contributed to the training of the legal man-power for some African Countries and enjoined the, “New wigs” to adhere strictly to the norms and ethics of the legal profession.

operatives on his apartment led to the recovery of several items such as laptops, iPad, traveling documents, cheque books, flash drives, internet

modem, and three exotic cars – a Mercedes Benz Jeep, One 4Matic Mercedes Benz Car and a Range Rover Sport SUV. “He was eventually

convicted by Justice Lateefa Okunnu of the Lagos State High Court, Ikeja on two counts of obtaining money by false pretence, cheque cloning,

wire transfer and forgery. “He was sentenced to 12 years imprisonment on each of the two counts,” said the commission.

SIGNED AND SEALED…

President, FrieslandCampina Consumer Dairy, Mr. Roel van Neerbos (left), and Governor of Niger State, Abubakar Sani Bello in Presidential Villa Abuja, after signing the landmark dairy pact (Memorandum of Understanding) on the development of 10,000 hectares of land earmarked in Bobi Grazing Reserve, Niger State…yesterday

FUTA Expels Six Students for Bullying Colleague James Sowole in Akure The authorities of the Federal University of Technology Akure (FUTA) yesterday expelled six students of the institution for allegedly bullying of a fellow student. The expulsion of the student, the school said, was sequel to the recommendation of an investigative panel which probed the incident that took place in an off-campus hostel

on November 16, 2019. The expelled students are Popoola Olaniyi Agboola IDD/ (300L); Oluwadare Faith Tobiloba FST ( 200L); Nandi Yohanna Jessica IPE/ ( 200L); Ajuwon Tolani Emmanuella FAT/ (100L); Emmanuel Funmilayo Taiwo FAT/ (100L) and Alao Olabimpe Cecilia CSP/ (100 L) The expulsion of the students was contained in a statement issued by the institution

Deputy Director, Corporate Communications, Adegbenro Adebanjo. The statement said the expulsion was in line with the position of page 48 of the 2019/2020 Students Handbook which prescribes expulsion from university for students who engage in “physical assault or battery on another student outside the university premises.” Adegbenro said as a

consequence of their expulsion, their studentship of FUTA ceases forthwith with all its rights and privileges. According to him, the punishment meted out to the affected students is not to pander to the justifiable public outcry that greeted their ‘odious act’ but in tandem with the rules and regulations as contained in the Students Code of Conduct as stipulated in the university.

Alleged Fraud: Air Peace Boss May Lose over $14m Cash Lawyer moves to stop Onyema’s extradition to US for trial Alex Enumah The Chairman of Air Peace, a private Nigerian airline, Allen Onyema could loss up to $14million in cash if convicted by a United States court where charges of fraud have been brought against him. The sums which could be forfeited to the United States government are in three separate bank accounts in the US and Canada. The United States of America (USA) had on November 19, 2019 filed a 36-count criminal charge against Onyema and one Ejiroghene Eghagha, a director of financial in Air Peace Limited. In the charge with number: 1: 19-CR-464 filed before the United States District Court for the Northern District of Georgia Atlanta Division, the defendants were accused of committing bank fraud as well as defrauding financial institutions of deposit, which were insured by the Federal Deposit Insurance Corporation (FDIC). In count one of the charge, the defendants were accused of conspiracy to commit bank fraud, while in counts two to

four, they were accused of bank fraud. While they were also accused in counts five to eight of conspiracy and credit application fraud, in counts nine to 35, they were charged with money laundering. According to the charge, Onyema had between 2013 and 2014 used multiple foreign bank accounts including Nigerian bank accounts to purchase airplanes for the Airpeace fleet. The funds were said to have come from accounts linked to Onyema, which includes; All-Time Peace Media Communication, Foundation for Ethnic Harmony, Every Child Limited and International Center for Non-Violence. A sum of over $3m was said to have been used from the four accounts in purchase of the aircraft. The charge also stated that between 2013 and 2016, from the above accounts more than$3.8million was transferred into bank accounts in the USA into a combination of escrow, logistical and personal accounts. The acts are said to be contrary to the laws of the USA and punishable upon

conviction. “Upon conviction of one or more of the offences alleged in counts one through five, the defendants shall forfeit to the US pursuant to title 18, United States code, section 981(a)(1)(c) and title 28 United States code, section 2461(c) any property real or personal that constitute or is derived from proceeds traceable to such offences including but not limited to the following: (A) Money Judgment: A sum of money in United States currency, representing amount of proceeds obtained as a result of offences allegedly in indictment. (B) Bank funds (1)$4,017,852.51 in funds seized from JP Morgan Chase Bank account in the name of Springfield Aviation Company, LLC (2)$4,593,842.05 in funds held in Bank of Montreal Canada Account held in the name of Springfield Aviation Inc (3)$5,634,842.04 in funds held in Bank of Montreal Canada, held in the name of Bluestream Aero Services, Inc. On the grounds that the described forfeit able property as a result of any act of omission of

the defendant cannot be located, transferred, sold, deposited with a third party or beyond the jurisdiction of the court, the United States law empowers the court to seek forfeiture of any other property of the defendant that is up to the value of the forfeit able property. Meanwhile, a human rights activist Johnmary Jideobi, has approached the Federal High Court, Abuja to restrain the Attorney General of the Federation (AGF) from extraditing Onyema to the US for trial over alleged fraud. The suit was sequel to the request of the American government to have Onyema tried in the US. He also requested for an order of the court restraining any agency of government with prosecutorial powers as represented by AGF either by themselves, their servants, privies, assigns or any other person or authority acting under any concerts from attempting to use or seeking to harass, threaten, arrest or inviting or arresting Onyema in relations to Civil aviation contract he entered with American authorities through his companies.

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NEWS

Border Closure: Benin Must be Sincere with Nigeria, Says Obasanjo Former President, Chief Olusegun Obasanjo, has urged Nigeria’s neighbour, Benin Republic, to change its ways for a harmonious bilateral relationship between the two countries. Obasanjo made the remark during a news briefing yesterday in Addis Ababa , Ethiopia, on the margins of Policy Dialogue of African Business Associations on Implementing the African Continental Free Trade Area (AfCFTA) Agreements. The two-day policy dialogue was co-organised by the African Union (AU), African Development Bank (AfDB) and the African Export – Import Bank (AFREXIMBANK). Other co-organisers are The AfroChampion Initiative and the Coalition of Dialogue Africa

(CoDA). Obasanjo, who is the Chair of the CoDA Board of Directors, explained that Benin’s notoriety was not new, as Nigeria had for long been enduring the practice which undermined its economic wellbeing. “It happened when I was President of Nigeria. I called the then Benin President, Nicephore Dieudonne Soglo, to let us meet at any of our border posts over the issue. “We eventually met at Badagry (in Nigeria), where we agreed that Nigerian Customs would be stationed in Benin. “They (the Nigerian Customs) are still there. We don’t have issues with goods manufactured in Benin — they are welcome. “But as long as Benin allow dumping of goods, there will always be problem with

Nigeria,” Obasanjo said. He noted that the Economic Community of West African States (ECOWAS) was not created to allow one country to turn itself to a dumping ground. On AfCFTA, Obasanjo said that the execution of the agreements was crucial to its success and sustainability. “The intense support AfCFTA has received from various member states is a clear indication of its importance. “CoDA is highly engaged to seeking success of AfCFTA and other multilateral agreements.

CoDA work is informed and guided by the notion that no one has monopoly of ideas,” he said. He urged for more actions, beyond words, adding that with fragmented 55 markets, Africa would remain small player in global market place. In his welcome address, AU Commissioner, Department of Trade and Industry, Mr. Albert Muranga, called for a change of attitude on the continent if the goals of AfCFTA were to be attained. “A new mindset is necessary. One country should not be going west and the other

going east. All of us should be going in one direction. “For AfCFTA and our dreams of African integration to meet with success, it requires cooperation from all stakeholders,” he said. Muranga also restated the fears as espoused by members of the organised private sector on the dangers ahead of AfCFTA, assuring that such fears also enjoy the attention of the framers of the AfCFTA initiaive. According to him, such fears include stability, predictability, fairness, corruption and enabling

environment. Other participants included the Co-chair of the Executive Committee, AfroChampion Initiative, Dr Edem Adzogenu, and Chief Economist/Director, Research and International Cooperation, AFREXIMBANK, Dr. Hippolyte Fofack. Also present were the Director General of Nigeria Association of Chambers of Commerce, Industry, Mines and Awgriculture, Amb. Ayo Olukanni, and AfDB Country Manager, Ethiopia, Dr. Abdul Kamara, among others.

Buhari, Netherlands PM Pledge to Collaborate on Trade, Human Trafficking Olawale Ajimotokan in Abuja President Muhammadu Buhari and the Prime Minister of The Netherlands, Mark Rutte, have agreed to work together to deepen trade volume, private investment as well as fight human trafficking among others. Rutte is on a two-day working visit to Nigeria, and is leading a trade delegation of eight Chief Executive Officers (CEOs) of Dutch multinationals currently operating in Nigeria with huge investment portfolios in the agriculture, finance, oil and gas sectors. According to a statement signed by the Special Adviser on Media and Publicity to the President, Femi Adesina, the two leaders reached the agreement yesterday when they both met in Abuja to discuss bilateral relations between Nigeria and The Netherlands. A communiqué issued at the end of the meeting revealed that

the two leaders reviewed the progress that has been made on the implementation of the Memorandum of Understanding (MoU) on improving the bilateral relations between the two countries concluded and signed by the respective Foreign Ministers in The Hague in July 2018. ‘‘We welcome the steps that have been made to increase bilateral economic cooperation and are happy to see higher levels of bilateral trade volumes as well as private sector investments,’’ the communiqué signed by Nigerian Ambassador to the Kingdom of Netherlands, Oji Ngofa, and the Deputy Head of Mission, The Netherland Embassy in Abuja, Ewout-Jan de Wit, said. It added: ‘‘The contribution of Dutch private businesses, both global players and small, micro and medium enterprises, to the Nigerian economy is duly noted.

Senate Condemns Electoral Violence in Kogi, Bayelsa Asks IG to prosecute killers of women leader Deji Elumoye in Abuja The Senate yesterday flayed the wave of electoral violence recorded during the recent gubernatorial elections held in Kogi and Bayelsa States. It also called on the Inspector-General of Police (IG), Mohammed Adamu, to arrest and prosecute the killers of the Women Leader of the Peoples Democratic Party (PDP) in Kogi State, Mrs. Salome Abu, and held a minute silence in honour of the deceased. These resolutions were sequel to the adoption of a motion titled: ‘Curbing Electoral Violence’, sponsored by Senator George Sekibo, who quoted report of the National Human Rights Commission (NHRC) saying about 58 people were killed in 61 incidents of election violence across 22 states in the country between January and February 2015.

He observed that political thuggery increased in 2019 compared to previous elections, adding that privileged politicians use either armed thugs or security agents to disrupt smooth elections. According to him, the recent violence witnessed during and after the elections in Bayelsa and Kogi States has called to question the credibility of the electoral process in Nigeria. He said: “The resultant effect of the electoral mayhem would reduce the credibility of our electoral process and deepen hatred as well as widen the gap of our unity. “The country’s electoral management body is not strong enough to withstand the pressure exerted by the political system and the electoral misconducts that accompany it continue to threaten the deepening of democratisation process.

CAREER COACHING…

L-R: Learning and Development Manager, Nestle Nigeria, Temitope Oyadele; Head of Business, Avant Halogen, Chigbo Okeke; Transformational teacher and Therapist, The Centre for Global Enterprise, Flora Gabtnoy; Convener and Host, CareerBanters, Ifeadi Anigbogu; Head, Human Resources, AgroMall Discovery and Extension Services, Linda Ahaneku; Country Manager, (Operations and Strategy), TLScontact, Kayode Kolade; and Assistant Learning and Talent Manager, Africa, PZ Cussons, Raphael Abiodun Akinte, at CareerBanters with Ifeadi, a career coaching event held in Lagos…recently

Nigerian Performs Landmark Robotic Surgery in United States Ngozi Jibulu, Gift Soronnadi and Mariam Jimoh Fayetteville Veteran Affairs Medical Centre, North Carolina (NC), in collaboration with the Department of Defense (DoD), has broken new ground in the field of medicine and surgery by recording its first robotic surgery using the Da Vinci surgical technology. The Da Vinci surgical technology is a state of the arts technology designed to enable surgeons perform complex surgeries through minor incisions using minimally inversive technique. Da Vinci technology was approved by the FDA in 2000 as the first surgery system technology for general laparoscopic surgery in US hospitals, according to

RoboticOncology.com, and since then, the use of this cutting-edge technology by surgeons has been on the rise due to its stated effect on cost reduction. The surgeon at the console, steering this pioneer joint project is Nigerian-born prodigy and celebrated surgeon, Dr. Obinna Igwilo, who worked with a team of clinicians and other employees of the Fayetteville Coastal Healthcare system. Igwilo, a native of Abia State, Nigeria, is a pioneer of the robotic surgery, which he had been working on since 2014. He has worked with a team of clinicians and other employees of the Fayetteville Healthcare Centre. His efficiency was described by his employers as an “active engagement with the training of medical students and surgical

residents while also serving as clinical Assistant professor of surgery with Campbell University School of Osteopathic Medicines”. The surgeon’s robotic surgery would remain a historic event been the first to be performed in the 80-year-old hospital. The exploit of Igwilo in medical practice has brought pride and inspiration in the heart of both the young and old, his success and accomplishment has been recognised by his Alma mater, Ngwa High school Aba and the school has been in a festive mood. The ground breaking surgery in North Carolina by Nigeriaborn surgeon shows clear testimony of the leading role led by Nigeria doctors both at home and abroad in promoting health and also advancing the cause of humanity.

Igwilo holds the fellowships of The Royal Colleges of Surgeons (FRCS) Glasgow and Edinburgh, and American College of Surgeons (FACS). A member of SAGES Society of American Gastro-intestinal and Endoscopic Surgeons, with special surgical interests in Robotic/laparoscopic/minimally invasive surgery; Endocrine and Colorectal surgery, Igwilo has been performing robotic surgeries since 2014. A consultant General Surgeon at VAMC and WAMC, he has been cited by his employers for his “active engagement with the training of medical students and surgical residents while also serving as clinical Assistant Professor of Surgery with Campbell University School of Osteopathic medicine”

Mo Abudu Becomes First African to Chair 47th International Emmy Awards Gala The International Academy of Television Arts and Sciences had appointed the Chief Executive Officer of EbonyLife Media, Mo Abudu, as Chair of the 47th International Emmy Awards Gala, held on Monday, November 25, in New York City. She was the first African, male or female, to land the coveted role. Following her appointment as the first African director of the Academy, the move signals a change in the opportunities opening up for

television content producers on the continent. Ms. Abudu launched EbonyLIfe TV in 2013, with a mission to change the narrative about Africa. In 2014, she started EbonyLife Films, which has created the three highest-grossing films in the history of Nollywood. In 2018, EbonyLife announced a threeseries scripted deal with Sony Pictures Television, followed by an agreement with another major US studio to develop an

African science-fiction TV series. Speaking at the gala, Mo Abudu said, “These partnerships are the first of their kind between Hollywood studios and a Nigerian television company. We are happy to be at the forefront of forging these new partnerships because it is truly about sharing our local stories with a global audience - stories that are historical, authentic and progressive.” Stand-up comedian and actor Ronny Chieng, a correspondent

on The Daily Show with Trevor Noah and star of Crazy Rich Asians, will host the gala, while businesswoman, philanthropist, author and former model Iman will present the Directorate Award to CNN Chief International Anchor Christiane Amanpour. Actor Conleth Hill, known worldwide for his role as Lord Varys in Game of Thrones, will present the Founders Award to the show’s creators David Benioff and D.B. Weiss.

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NEWSEXTRA

FilmoRealty Launches PropLab.Africa Partners Microsoft in developing enterprise solution in Africa Segun James As part of moves to develop enterprise solutions that would advance the real estate and city management service industry, FilmoRealty is now collaborating and partnering Microsoft on the emerging property technology business in Nigeria. The Managing Director of FilmoRealty, Mr. Luqman Edu, disclosed this at the launching of PropLab.Africa, which highlighted two of the flagship products developed for the real estate industry - VAMP FI and Resido. According to Edu, the VAMP

Facilities Intelligence is a smart solution for data-driven facilities and asset management. The platform supports organisations by setting optimal work processes and analysing their facility’s operating costs, service performance and tenant experience. Edu said that with Resido, real estate companies could offer a user-friendly home management app - powered by VAMP FI - to their tenants and ensure that service delivery is seamless, efficient and optimal. He said: “In the lifespan on a building, 60 percent of cost of the property will be at the maintenance stage and how

VAMPFi will utilise big data analysis and predictive analytics to reduce operating cost of the property and bring better return on investment.” He said that moving forward, PropLab.Africa would continue to develop solutions and support the growing proptech ecosystem. The launch featured notable guests including - Microsoft Country Manager for Nigeria

and Ghana, Akin Banuso; ISV Lead West Africa for Microsoft 4Afrika, EduAbasi Essien; Managing Director Broll Nigeria, Bolaji Edu; General Manager, Lagos State Infrastructure Asset Management Agency (LASIAMA), Adenike Adekanbi; Founder Nigerian Proptech Association Roland Igbinoba; Senior Adviser, Dangote Industries Limited/

Aliko Dangote Foundation and FilmoRealty Board Chairwoman, Fatima Wali-Abdurrahman and Managing Partner at RDF Strategies and FilmoRealty Board Member, Nkiru Balowu. A number of the leading proptech companies were also in attendance including Estate Intel; Seso Global; Muster; Zama; GatePass; Spleet and PropertyPro. Others were Founder/CEO,

Estate Intel, Dolapo Omidire; Co-Founder/Product Lead, Muster, Ugochukwu Okoro and CEO, Seso Global, Daniel Bloch, presented on “Opportunities, Challenges and the Future of Proptech in Africa” – the first event in the CitiConnect Proptech series which will continue to be held at CitiSpace – PropLab. Africa’s co-working space located in Victoria Island, Lagos.

Gbajabiamila: We will Unearth Corruption, Mismanagement in NDDC The House of Representatives has stated that it would uncover corruption and mismanagement of funds in the Niger Delta Development Commission (NDDC) and take necessary corrective action, saying it would do so without political consideration or preference for any predetermined outcomes. The House Speaker, Hon. Femi Gbajabiamila, gave the assurance at the opening of a one-day investigative hearing by the House Committee on NDDC, when the Minister of Niger Delta Affairs, Godswill Akpabio, the Minister of State, Tayo Alasoadura, and other members of ministry appeared before the committee. He said since the establishment of NDDC in 2000 to facilitate the sustainable development of the Niger Delta; support the regeneration of ecologically damaged areas and achieve economic prosperity for the region, enormous amounts of money had been allocated to the Commission, but lamented that available evidence suggests that the significant allocations have not achieved the objectives for which they were intended.

The Speaker said ecological damage is still a clear and present danger to the people of the region, depriving them of opportunities for economic sustenance and sustainable living. He pointed out that the available transportation, healthcare and education infrastructure are still insufficient to meet the present needs of the people, stressing that after these years, the people of the region are beginning to wonder if the establishment of the NDDC has served any real purpose or made any positive impact on the lives of the people. Gbajabiamila stressed further that it was for these reasons that the House resolved to investigate the operations of the NDDC to identify the issues that have mitigated against the full achievement of the Commission’s goals. According to him, “Everything is on the table. Where corruption or mismanagement is the issue, we will uncover them and take necessary corrective action, and we will do so without political consideration or preference for any predetermined outcomes.

TECHNOLOGY-DRIVEN REAL ESTATE INDUSTRY…

R-L: Chief Visionary Officer/Managing Director, Filmo Realty, Luqman Edu; Chairman, Fatima Wali Abdurraman; and Chief Operating Officer, Tosin Durotoye, at the official launch of Proplab.Africa a subsidiary of FilmoRealty focused on developing B2B technology solution to drive the real estate industry in Africa forward, held in Lagos …recently SUNDAY ADIGUN

Police Confirm Killing of Two Personnel by Suspected Kidnappers The Adamawa State Police Command has confirmed the killing of two of its men by suspected kidnappers around Mubi, in Mubi South Local Government Area of the state. Mubi, which constitutes the Mubi North and Mubi South Local Government Areas, is a major commercial town about 194 kilometres north of the state capital, Yola, which has recently been haunted by kidnappers. Only last week, a police DPO, Ahidjo Muhammed and a businessman, Muhammadu Mbilla, were both kidnapped

in Mubi and are yet to regain freedom. A report had earlier yesterday quoted local sources as saying two police officers might have been killed and six residents kidnapped when some gunmen attacked police and civilian vehicles along Gyella Road in Mubi South LGA on Monday evening The sources had put time of the attack at between 7 p.m and 8 p.m on Monday, as the police officers were returning from Mubi police headquarters, allegedly after handing over

some suspects they picked up from somewhere. The sources said it was while the policemen were returning to their base at Gyella Road that they were ambushed by the gunmen who killed the police driver and one other policeman. Speaking on the development yesterday evening, however, the Public Relations Officer of the Adamawa Police Command, DSP Nguroje, confirmed the killing of two policemen but dismissed the part that six residents were kidnapped in the course of the Monday attack.

Nguroje told DAILY POST in a telephone interview that nobody was kidnapped on Monday, but that some police officers on general patrol saw a certain man wandering around a bush path and, considering the atmosphere of the man curious, the officers approached him. “From the explanation the man gave, the officers found that he had just escaped from kidnappers,” Nguroje said, adding that the officers then reached the decision to move into the bush to route out the said kidnappers.

I’ll Eliminate All Potholes on Ogun Township UN Supports Bill on Gender-based Inequality, Roads, Says Abiodun Regulation of Hate Speech Kayode Fasua in Abeokuta

The Ogun State Governor, Prince Dapo Abiodun, yesterday assured road users in the state that the next fiscal year would be dedicated to eliminating all potholes on township roads across the state. He said this is besides other developmental programmes earmarked by his administration for the fiscal year. Abiodun gave the assurance in Abeokuta while appraising the 2020 proposed expenditure of the Ministry of Works and Infrastructure on the 2020 Budget. The governor particularly vowed to maintain “a policy of zero tolerance for potholes on township roads across the state from the next fiscal year.” According to him, “No stone will be left unturned at ensuring that we place maximum premium on road

rehabilitation within the state going forward.” He said his administration would not be defined as an administration that allowed potholes to take over its township roads, adding that the issue of bad roads across the state would be phased out as work had begun with the most specific ones. Some of the roads earmarked for rehabilitation, according to him, include Abeokuta South and North township roads, Akute, Ifo, Ewekoro,Odeda, Obafemi Owode-Egba and Mowe-Ibafo township roads in the Ogun Central senatorial district. Others are Ijebu-Ode-AgoIwoye, Ijebu-Igbo, Ogbere-IperuSagamu, Ogijo, Odogbolu up to Remo township roads in Ogun East; Sango-Ota, Igbesa, Ado-Odo, Agbara, Ilaro-OwodeYewa, Aiyetoro, Imeko up to Idiroko township roads in Ogun West.

Buhari ratifies Beijing Protocol 2010, Montreal Protocol 2014 Olawale Ajimotokan and Kasim Sumaina in Abuja The United Nations has offered support for the Gender based Inequality Bill that seeks equal participation and and representation for women and men in all decision making and currently before the Senate. This position was made known yesterday by the UN Deputy Secretary General, Amina Mohammed, to the State House correspondents, after her meeting with President Mohammadu Buhari. Mohammed, who was a former Minister of Environment, said that the UN will support the bill, said she had also conveyed the thinking of the UN on the issue to the Senate President, Senator Ahmed Lawan.

She described the bill is an important law that will receive non-partisan support across the board. “This is about all women and Nigeria and we should bring an end to violence against women. We have a number of programmes that support countries, including what happened with the legislation, how to improve upon policies, laws, regulations that would help to protect the environment,” she said. She noted that there is an EU-UN project, which actually addresses gender-based violence. She added that given Nigeria is a recipient of some of the funding, the project would soon be launched in the country and she would be there to give her support. “It’s not for the national

level but how we would domesticate that in all the tiers of government so that you have a truly national response to laws when it comes to implementing them,” Mohammed said. On the proposed social media bill in the National Assembly, she said that globally hates speech had reached an all-time high and that many checks and balances that can put into the society and into any country to bring an end to it is welcome. She, however, said the UN was not in support of death penalty portion in the bill that originally proposed but was withdrawn on Monday. “The UN Secretary-General had also put in place a special ending on hate speech. So, there is a strategy for that now and we are looking at that globally. I think this framework is

important for multilateralism and we can go much further if we do these things together many of these issues are across borders through technologies”. Mohammed said her meeting with President Buhari touched on the many vast issues, including the humanitarian crisis in the North East and North West of Nigeria, the sixteen days of activation on gender-based violence which started on Monday, the murder of the PDP women leader in Kogi State and the resettlement of internally displaced persons (IDPs). Meanwhile President Buhari has ratified the Protocol to Amend the Convention for the Suppression of Unlawful Seizure of Aircraft (Hague Convention of 1971) (Beijing Protocol 2010).

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Insecurity: South-South Govs, IG Endorse Community Policing Omon-Julius Onabu in Asaba Delta State Governor, Dr. Ifeanyi Okowa, and his counterparts in the Southsouth, yesterday endorsed the proposal by the Nigeria Police Force for community policing as panacea for persisting security challenges in the country. The governors declared the support for grassroots policing at a one-day

South-South Nigeria Police Regional Security Summit held yesterday in Asaba, with ``Strategic Partnership for Effective Community Policing in the South-South Zone’’ as theme. In a communiqué at the end of the summit, participants, including the governors, and Inspector-General of Police, Mr Abubakar Adamu, said that the motive of community policing, which hinged on

integrating the grassroots into security management across the country was commendable. They said that the summit represented a significant redefining policing and security arrangements across the country, adding that current challenges were and should be the concern of not just government, but every citizen. Also in the communiqué signed by the IG and representatives of the

governments of Akwa Ibom, Bayelsa, Cross River, Delta, Edo and Rivers states, and read by Okowa, the participants urged the IG to design training pattern for vigilantes and neighbourhood watchers to bridge the personnel gap in the police force. According to them, the adhoc security operatives should be suitably equipped and funded and their operations should be subject to direct

Senate Prescribes Life Imprisonment for Kidnapping The Senate yesterday approved the removal of a two-month Statute of Limitation on the prosecution of rape offenders as contained in the Criminal Code Act. The Senate also endorsed a proposal that kidnappers should be jailed for life as against the provision 10 years imprisonment contained in the current law. This position of the upper chamber was sequel to its consideration of a Bill, which sought to delete the Statute of Limitation on defilement and provide for life imprisonment for kidnapping in the Criminal Code Act. The Bill titled: “A Bill for

an Act to amend the Criminal Code Act CAP C38 LFN 2004 to delete the Statute of Limitation on defilement, increase in punishment for the offences of kidnapping, remove gender restrictions in the offence of rape and for related matters, 2019,” was sponsored by the Senator representing Lagos Central, Oluremi Tinubu. Senator Tinubu, in her lead debate, said the amendment being sought was to “delete portions of Sections 218 and 221, amend the definition of rape as contained in Section 357 and increase punishment for the offence of kidnap in Section 364.”

According to her, the globally accepted aims of criminal law and the criminal justice system include deterrence, retribution, restoration, and rehabilitation of offenders. She said that the criminal justice system ought to deliver substantial justice and closure to the victim, the offender and the state. “Where a law fails to achieve any of these, it is inherently faulty, hence the need for amendment,” Tinubu said. She noted that Section 218 of the Criminal Code provided that anyone who had unlawful carnal knowledge of a girl under the age of 13 or attempted same would be guilty of a felony and liable to

life imprisonment or 14 years imprisonment respectively. “My grouse however, is with the proviso that prosecution of the offender must be commenced within two (2) months after the offence is committed. “What this does, is impose a statute of limitation on prosecution of these offences. “This bar to prosecution negates the principles of natural law, equity and good conscience,” she lamented. She insisted that Section 218 of the Code is not tenable in a country like Nigeria where investigations into cases of rape often take longer than two months.

supervision and control by the police. ``Moreover, the IG should take further proactive steps to facilitate an appropriate legal framework to enhance the operations of the vigilante groups and similar bodies,’’ the communiqué added. The participants expressed concern over declining family values, saying that many crimes were traceable to negative peer group influence, substance abuse and the absence of moral discipline, all of which could be mitigated

by good parenting and effective teaching and learning in schools. They, therefore, charged stakeholders to undertake strong advocacy for the sustenance of family values and functional education capable of promoting selfemployment for youths. They also urged state governments in the zone to ``pursue job and wealth creation as a high priority as unemployment among youths is one of the disposing factors to criminality.’’

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NEITI to Unveil Owners of Oil, Gas, Mining Assets Ndubuisi Francis in Abuja The Nigeria Extractive Industries Transparency Initiative (NEITI) will on December 12 unveil owners of oil, gas and mining assets in the country with the launch of its Beneficial Ownership Register, making Nigeria the first affiliate of the global Extractive Industries Transparency (EITI) fraternity to do so. The register will open the lid on the owners of oil wells, gas deposits and other mining sites across the country. The NEITI Director of Communications, Dr. Orji Ogbonnaya Orji made the disclosure in Abuja, yesterday at an interactive session between the visiting head of the EITI Secretariat in Oslo, Norway, Mr. Mark Robinson; civil society organisations and journalists. Giving an overview of the agency’s activities, Orji, who

represented the NEITI Executive Secretary, Mr. Waziri Adio, said the launch of the forthcoming Beneficial Ownership Register would be a milestone, which would provide facts about those behind oil, gas and mining assets. He stated that NEITI was developing a road map on open data mainstreaming, adding that it had already aligned with most of EITI’s processes, putting Nigeria in a good standing as one of the top seven performing countries out of the 52-member global organisation. The chairman of the civil societies steering committee on the NEITI Board, Kolawole Banwo in his remarks, noted that Nigeria Nigeria’s processes and performance had been adjudged satisfactory by EITI, noting that remediation which is a missing link is already being addressed.

Banwo pointed out that the challenges that needed to be addressed had been identified, noting that an application to track media issues is being developed. In his remarks, the EITI global head, Mark Robinson noted that Nigeria is one of the largest single member-country

of EITI. He stated that while in Nigeria, he had already met with the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari and the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, among others.

Robinson said his visit was fruitful with the NNPC committing to joining the EITI initiative, stressing that the work of EITI and its affiliates significantly helps address corruption in the extractive industry and free up funds for development. He observed that although

NEITI had made significant strides, there were a lot of things to go beyond the ‘satisfactory’ rating and corrective actions for the government to take. He cited the illegal extraction of oil and mining operations as well as non-remittance of oil revenues.

Women Seek to Reverse Shortfall in Representation Onyebuchi Ezigbo in Abuja Women lawmakers and activists have vowed to do something to check the dwindling number of female in elective office in the country. At a conference organised yesterday by the Policy and Legal Advocacy Centre (PLAC) with support from the Embassy of France in Abuja, women lawmakers and civil society activists resolved to join hands to advocate for a legal framework that would enable women fill the existing gap in gender representation in politics and governance in the country. Speaking on the abysmally low number of women lawmakers in the ninth National Assembly, the Minister of Women Affairs, Mrs. Paulen Tallen, described the current situation in the National Assembly as too low and unacceptable. “The number of elected women in parliament is too few and unacceptable. My heart bleeds when I look at the calibre of women we have in the county, women

that are more than capable to be there but were blatantly denied the opportunity. We have a herculean task before us ahead of the 2023 general elections,” she said. The minister, who was once a deputy governor in Plateau State, said the women must start the struggle for greater inclusion early so that what happened during the 2019 elections would not repeat itself. She lamented that women have borne the brunt of injustice of our electoral system, adding that most times when women win election, it would be upturned. She added that women would commence mobilisation early and galvanise their energies towards achieving a common goal of improving on the percentage of women occupying elective offices and critical positions in government. While recounting her experience during an election, Tallen said her life was threatened when she tried to reclaim her mandate in a court of law after being shortchanged during an election.

CONGRATULATIONS…

Former Speaker, Lagos State House of Assembly, Hon. Adeyemi Ikuforiji (right), and his friend, Peter Scott, after he bagged a Doctor of Business Administration (DBA) degree in Leadership at the Liverpool Business School, John Moores University, Liverpool, England …recently

Commonwealth Partners NO MORE to Reduce Violence against Women, Girls Ngozi Jibulu, Gift Soronnadi and Mariam Jimoh The Commonwealth has announced a new partnership with NO MORE Foundation to reduce domestic violence in member countries. The Secretary-General of Commonwealth, Patricia Scotland, recently signed a Memorandum of Understanding (MoU) with the NO MORE Foundation, which is a global movement of 1,400 allied organisations and 40 international chapters working together to stop and prevent domestic violence and sexual assault. Assistant Communications Officer, Communications Division, Commonwealth Secretariat, Snober Abbasi, said in a statement that the two parties have agreed to work together to

implement initiatives that work on the prevention of domestic violence and sexual abuse as part of wider efforts to achieve the 2030 sustainable development goals. According to the World Health Organisation (WHO), one in three women worldwide has been a victim of sexual and/ or physical violence in their lifetime, making it a leading cause of death in women and girls. Reports suggest the abuse remains largely unreported due to impunity, silence, stigma, fear and shame. The Secretary-General said: “We must say NO MORE to violence against women and girls in both words and action. “It affects everyone: women, men, children, persons with disabilities and people from sexual and gender minorities.

“It means we must involve and sensitise everyone to support vulnerable individuals, protect survivors of violence and bring perpetrators to justice. “We must do everything we can to ensure every child in our home and our community grows up in a safe environment. This is the only way to fulfill our Sustainable Development Goal commitments.” The partnership is designed to help member countries record accurate data on the prevalence of violence, deliver grassroots projects, train community leaders, educate bystanders’ responses and provide awareness resources. NO MORE Global Executive Director Pamela Zaballa said: “NO MORE is proud to partner with the Commonwealth and grateful to have this tremendous

opportunity to help end domestic violence in the 53 member countries. “We are looking forward to engaging a wide array of governmental, business, human rights and community leaders in this initiative. “Together, we can dramatically increase awareness and action to prevent violence and meet the 2030 sustainable development goals.” The partnership was announced at an event hosted at Commonwealth headquarters in London, to mark International Day for the Elimination of Violence Against Women. Officials from high commissions, businesses, human rights groups and women’s rights organisations participated at the launch of the initiative.

The Association of Licensed Mobile Payment Operators (ALMPO) is set to host the 2019 Mobile Money Conference, with the theme “Mobile Money: Beyond Payments.” The event is scheduled to hold today, November 27, 2019 at Four Points by Sheraton Hotel. Mobile money has continued to grow and serve as enabler to the realisation of financial inclusion target in Nigeria. According to data released by the Nigeria Inter-Bank Settlement System (NIBSS), Nigeria recorded 50 percent increase in mobile money transactions and added over two million new users to the existing ones in 2018. This showed a significant growth in the usage and adoption of mobile

money platform in Nigeria. However, as consumer preference for mobile money services continue to evolve, so the need to disrupt the traditional system and expand the value chain of cash in-cash out, bill payments to micro-credit and micro-savings, micro-pension, micro-insurance and agric-tech to improve users experience and grow more adoption in Nigeria. The Chairman of Association of Licensed Mobile Payment Operators (ALMPO), Mr. Chinedu Onuoha, disclosed that the objective of this year’s conference “is to forge a collaborative approach towards harnessing new initiatives and opportunity areas that will accelerate mobile money

adoption and deepen financial inclusion. “The Conference remains a platform for mobile money operators, regulators, and other stakeholders to discuss current situations, challenges and advancements of mobile money in Nigeria. “The event is expected to pull c-level participants across payment and non-payment ecosystems in Nigeria,” he said. The conference will feature discussions around “Beyond Payments: Disrupting the Value Chain to Deepen Mobile Money Adoption.” Other topics include “Beyond Payments: Enhancing Industry Synergy in the Fight against Mobile Money Fraud;” “Setting

Mobile Money Agenda for 2020;” “Harnessing New Opportunity Areas for Mobile Money Adoption in Nigeria” and a Special Presentation on “the State of Mobile Money in Nigeria”. Some of the invited speakers/ guests for the event are: Group CEO, BlueTag Group, Mr. Uzo Eziukwu (keynote Speaker); Chairperson of the 2019 Mobile Money Conference and Deputy Governor, Financial Systems Stability, Central Bank of Nigeria, Aishah Ahmad; The Executive Vice Chairman/CEO of Nigeria Communications Commission, Prof. Umar Garba Danbatta and Academic Director, Lagos Business School, Prof. Olayinka David-West.

Oil Communities Kick against Delay in Inauguration of ALMPO Announces Theme, Speakers for Mobile NDDC Board Money Conference 2019 substantive board.“As a grassroots Emmanuel Addeh in Yenagoa The leadership of the Host Communities of Nigeria (HOSCON) has written a letter to President Muhammadu Buhari over the continuing delay in the inauguration of a new Niger Delta Development Commission (NDDC) Board, maintaining that the issue was capable of causing a disruption of the fragile peace in the region. HOSCON Chairman, Dr. Mike Emuh, who disclosed this yesterday, said the host oil communities were uncomfortable with the daily reports coming from the Federal Ministry of Niger Delta Affairs under Godswill Akpabio, especially the alleged ‘illegal’ operation of an interim committee even after the screening and confirmation of a

mass movement, the leadership of HOSCON must live up to its traditional mandate of projecting and protecting the interest of all oil/gas producing communities in the Niger Delta region. It is on this mandate that we draw your attention to the current situation in the Niger Delta region. “Especially as it relates to the three-member Kangaroo Interim Management Committee (IMC) put in place by the Minister of Niger Delta Affairs, Chief Akpabio. We are disturbed that even after the screening/ confirmation of the NDDC Board members nominated by yourself, the three members still operate illegally when in the actual sense the NDDC Act 2000 does not recognise interim management,” HOSCON chairman said.

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House Investigates Security Breaches, Violence in Bayelsa, Kogi Elections Adedayo Akinwale ín Abuja The House of Representatives has reluctantly agreed to carry

out investigation on the security breaches and violence that characterised the November 16, 2019 elections in Kogi and

Dangote, Elumelu, Otudeko, Others win FG’s Productivity Award Onyebuchi Ezigbo in Abuja Africa’s richest man and President of Dangote Group, Alhaji Aliko Dangote; prominent business entrepreneurs, Tony Elemelu and Oba Otudeko have been nominated for productivity award by the federal government. Also among those to receive the prestigious National Productivity Order of Merit (NPOM) Award are 29 other individuals and organisations who have made remarkable impact in their various fields of endeavour. Addressing a press conference in Abuja yesterday to herald the 18th edition of the National Productivity Day (NPD), the Minister of Labour and Productivity, Senator Chris Ngige said the aim of the award is to stimulate productivity consciousness and reward innovation, creativity and hard work among Nigerians. He said that government is conscious of the critical place of productivity in the

realisation of the present administration’s Next Level Agenda, adding that “no nation can be self-reliant and competitive in the international market without productivity improvement in all sectors of the economy” Ngige further said that;” No nation can enhance the quality of life of its citizenry as well as be self-reliant and competitive in the international market without productivity improvement in all sectors of its economy. Productivity is indeed the most important determinant of socio-economic growth, wealth creation, employment generation and overall improved standard of living”. He said the Buhari-led administration is committed to the overall socioeconomic growth and development of the nation in order to improve the standard of living of Nigerians. The minister said that President Muhammadu Buhari would confer the awards on the recipients tomorrow in Abuja.

Court Dismisses Wind-up Proceedings against Aiteo Awards N8m against petitioner Davidson Iriekpen A Federal High Court in Lagos has dismissed a windup suit against an indigenous oil company, Aiteo Eastern Exploration and Production Company Limited (AEEPC). The court presided over by Justice Oluremi Oguntoyinbo, dismissed the wind-up suit, following an application made by AEEPC’s counsel, Mr. Emeka Ozoani (SAN), to dismiss the application following a request to withdraw the application made by A. A. Adekeye, lawyer to Charlietam International Services Limited (CISL), the petitioner in the suit. The petitioner, CISL in a suit filed through its solicitors, Anthony Enyindah, Victor Okezie and Dr Dickson Omukoro of Ntephe Smith & Wills Chamber, had urged the court to wind-up AEEPC over an alleged inability to pay N259,068,753 debt. The petitioner, a Rivers Statebased oil servicing company, in the suit numbered FHC/LA/ CS/1818/2019, accused Aiteo of failing to pay the money for services rendered to the respondent between December 2017 and March 2019. The petitioner had told the court that the application to wind-up the company was on the grounds of insolvency,

pursuant to sections 408 and 409(a) of the Company and Allied Matters Act. At the resumed hearing of the matter yesterday, Adekeye, who claimed to be representing the petitioner, informed the court that she has an undated application, seeking to discontinue the petition against AEEPC. She said: “We have a notice of discontinuance, we have served the respondents and it’s aware of the application”. In adopting the notice of discontinuance, Adekeye told the court that it was based on the Company and Allied Matters Act. Responding, AEEPC’s counsel, Ozoani who led Mr. Joseph I. Nwatu and Mrs. Mmesoma Unaeze, while admitting being served with the application, told the court that he had been served with the notice of discontinuance while in court. He, however, told the court that there was the need for parties to address the court on the petitioner’s application as the issues had been joined on the wind-up application. Ozoani also told the court that the petitioner had gone to press, especially on October 19, 2019, without a court order, a development he said had caused apprehension to the clients of the respondent and has caused his client ‘injurious falsehood’.

Bayelsa states. The Speaker of the House, Hon. Femi Gbajabiamila, however warned that the report from the findings should not make reference to any political parties involved in the elections if the report is to be considered by the House, saying such reference could be used for or against the parties involved in the court. He stated: “If you allow me, I have an amendment from here too. The rules are

hereby suspended for me to move my amendment; I have suspended the rules to make my amendment. “In the spirit of fairness, so that no sides or parties is prejudiced by this - I don’t even know if this motion will be carried, I have no idea – in the event that it is carried, there shall be no reference to any political party in the report, whether PDP is guilty, whether APC is guilty or whether SDP is guilty, there

shall be no...just the facts of what happened without reference to any political party, so that such is not used against PDP or APC in court. We will allow the courts to do their work. So, if the report contains reference to any party, that report will not be considered on the floor of this House.” The Houses decision was sequel to the adoption of a motion moved by the Deputy Minority Leader, Hon. Toby

Okechukwu, following the widespread violence witnessed during the November 16, 2019 elections in Kogi and Bayelsa states which recorded about a dozen deaths. In his lead debate, Okechukwu recalled the alleged claims by top officers of the Nigeria Police Force that the Police had prior intelligence that the elections would be violent and that fake officers were responsible for the said violence.

CALL TO BAR CEREMONY…

L-R: Chairman, Council of Legal Education, Chief Emeka Ngige (SAN); Chief Justice of Nigeria, Justice Ibrahim Tanko Muhammad; and President, Nigerian Bar Association, Paul Usoro (SAN) at the Call to Bar ceremony of 4,556 students at the Nigeria Law school, Bwari, Abuja…yesterday

Court to Decide Metuh’s Fate in Alleged N400m Fraud on February 25 Alex Enumah in Abuja Justice Okon Abang of the Abuja Division of the Federal High Court will on February 25, 2020, determine the culpability or otherwise of former Spokesman of the Peoples Democratic Party (PDP), Chief Olisa Metuh. Metuh and his company, Dextra Investment Nigeria Limited are standing trial on alleged money laundering charges. They were in 2015 arraigned by the Economic and Financial Crimes Commission (EFCC), specifically on accusation of receiving the sum of N400

million from the Office of the National Security Adviser (ONSA) without any contract. They pleaded not guilty to the charges. However, following the adoption of final written addresses by all parties in the suit yesterday, Justice Abang announced that judgment has been reserved for February 25, 2020. In arguing his final brief of argument, prosecution counsel, Sylvanus Tahir, urged the court to convict Metuh on the grounds that he had led credible evidence against the defendants. The prosecution before closing its case against the defendants,

called eight witnesses and tendered several documents to support its case against Metuh and his company. Among the documents is a bank document, which captured the details of the transactions carried out by Metuh and his company, Destra Investment Limited. However, the defendants led by Abel Ozioko and Tochukwu Onwugbufo (SAN), for the first and second defendants respectively, urged the court to dischare and acquit them on the grounds that the prosecution has failed woefully in establishing any case against him. In his defence, Metuh called 15

witnesses to prove his innocence of the money laundering charges brought against by the federal government. Metuh in his evidence maintained that the sum of N400 million received from former National Security Adviser (NSA) Colonel Sambo Dasuki (Rtd) was for a national assignment as directed by the then president, Goodluck Jonathan. However during cross examination by prosecution counsel, Sylvanus Tahir, the former Spokesman told the court that there was never an instance where Jonathan directly gave any money to him.

Sanwo-Olu: Domestic Violence, Gladday Anson Diri Crime against Humanity for Burial Sunday Ehigiator and Chiamaka Ozulumba

Lagos State Governor, Babajide Sanwo-Olu, has described domestic and sexual violence as a crime against humanity. He stated this yesterday during a walk against domestic violence led by the governor in collaboration with Lagos State Domestic and Sexual Violence Response Team (DSVRT) in commemoration of the ‘16 Days of Activism for International Day on Violence Against Women’ marked every November 25. “Lagos State Government through the Ministry of Justice and other arms of the government had used this

walk to further confirm the state government’s support for advocacy against domestic violence and child abuse. “Our advocacy is against sexual and domestic violence such as rape and all other vices that are dehumanising. Our administration by this walk has shown that we are totally against such vices. We stand against these vices and we are going to ensure that we have zero tolerance against them. That’s why we also have our Commissioner of Police here. “It is a crime against humanity. Anyone caught in the act would be prosecuted and made to face full wrath of law.

The death has occurred of Amaopusenibo Gladday Anson Diri on November 3, 2019 in Port Harcourt. He died at the age of 78 years after a brief illness. Diri worked with the Daily Times of Nigeria in the late and early 80s and rose to the position of Editor of the defunct Headlines Newspaper in its stable. He later transferred his services to the University of Port Harcourt and served as the institution’s Public Relations Officer. He was also Editor, Daily SunRays. He held the traditional title of Amaopusenibo of Opobo Kingdom. Commendation service and

interment would take place in his home town Kalaibiama Town, Opobo, Rivers State on Saturday, November 30, 2019.

Anson Diri

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WEDNESDAYSPORTS

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

Aruna Quadri Replaces Injured Wong Chun at W’Cup Femi Solaja Nigeria’s brightest table tennis star and African number one player, Aruna Quadri, was yesterday handed another opportunity to show case his talent on the global stage following a late minute entry to play at the ITTF Men’s Cup in Chengdu, China this weekend. The opportunity came following the withdrawal of Wong Chun after an ankle injury he sustained last week at another major tournament and thus ruled him out of the world event that will hold from Friday 29th November to Sunday 1st December, 2019. The international tennis body picked the experienced Nigerian who will now line up to play other top players in the world.

The ITTF.com recalled that when Wong Chun faced China’s Xu Xin at the T2 Diamond Singapore event last week, the player suffered an injury at the end of the second game. Despite the best efforts by his team and coach, the 28 year old was unable to continue. Ranked number16 in the world, he will miss out in the tournament for the first time in three years. The withdrawal has profited Nigeria’s Quadri and will compete in the group stage of the competition. The 31 year old is a regular face at top international events and is no stranger to pushing the table tennis elite to the limit. The change of baton thus meant that Quadri will be making his fifth appearance at a Men’s World

Cup and the last two editions in Disneyland Paris (2018) and Liège (2017) are his recent but his best performance however came at the 2014 edition in Dßsseldorf, where

he reached the quarter-finals stage. This year as a whole has been somewhat topsy turvy for Aruna. Starting with a round of 32 finish at the Liebherr 2019 World

Championships in Budapest, he reached the semi-finals at the ITTF World Tour Bulgarian Open in Panagyurishte. Following that, his win in Lagos at the

ITTF Challenge Plus Nigeria Open was followed by a surprising round of 16 exit at the ITTF Challenge Plus Portugal Open.

NPFL

LMC Gives Rabiu Ali Soft Landing with 12-match Ban Waiver The League Management Company (LMC), has pardoned the captain of Kano Pillars, Rabiu Ali, from serving the 12-match ban it initially imposed on him last week. The Kano Pillars strong midfielder was handed punishment following his unduly behaviour during the Super 6 played at the Agege stadium in Lagos in June this year. The League governing body had on Monday stated that the apology letter written by the player has been reviewed and has deemed it fit to pardon him but must carry out compulsory community service. “Following apology letters from Rabiu Ali of Kano Pillars, his 12-match ban has come

under review considering the community service he rendered as directed by the LMC,� reads a statement by the LMC on Monday. “After considering Rabiu Ali’s past record in the league, the remaining period of his ban is hereby commuted to a suspended sentence with effect from Matchday 6. “Rabiu Ali is however required, as part of the commutation of his ban, to contribute to community engagement & development including visiting schools to promote good virtues associated with football,� the LMC stated. His resumption will be a big boost for Pillars following their woeful performances since the beginning of the season.

2019 NSA Award Records over 35m Votes Organisers of the most prestigious and longest running sports award-The Nigerian Sports Award has announced an unprecedented entry of over 35 million votes from the general public for all the sports categories in this year’s edition which ceremony comes up Friday 29th November 2019 at Eko Hotel Victoria Island Lagos. A statement from the organisers of the award noted that this was the highest vote ever recorded by the Panel in the 8-year history of the award with votes coming from a total of 50, 470 respondents. According to the Chairman of award Panel, Dr. Kweku Tandoh, votes for this year’s edition was relatively high in all the shortlisted categories when compared with votes recorded for last year’s edition. Tandoh noted that this record entry clearly confirms that Nigerians appreciate the contribution and exploits of its sporting heroes and heroines on account of the votes

cast for the sport men/women of their choice via the platforms provided by the Sports Award. At the end of the panel session held to review the entries, 16 award categories were evaluated and these include: Footballer of the Year, Team Sports Person of the Year, Individual Sports Person of the Year, Basketball Player of The Year, Coach of the Year, Discovery of the Year, Sports Administrator of the Year. Other award categories include Racket Sports Person of the Year, Para Sports Person of the Year, Team of the Year, Discovery of the Year, Athletic Star of the Year, SportsMan of the Year Sportswoman of the Year Executive Director of the Awards, Mr. Kayode Idowu stated that all is set for the 8th edition ceremony which will feature a heavy dose of star musical performances and a glittering spread of celebrated sports men and women as well as distinguished captains of industries and other stakeholders.

L-R: Group General Manager, Operations, Rainoil Ltd. Akshay Sakena; Sport Secretary, Ikeja Country Club, Segun Aluko; Vice President, Ikeja Country Club, Igho Okor; and Head of Strategy and Business Development, Rainoil Ltd. Emmanuel Omuojine at the 2019 Rainoil Tennis Open Press Conference held at Ikeja Country Club, Lagos‌. yesterday SUNDAY ADIGUN

Rainoil Set Youths Busy with Tennis Open Rainoil Limited in partnership with the Nigerian Tennis Federation (NTF) will begin its 2019 Rainoil Tennis Open Tournament from November 29th to December 8th, 2019 at the Lagos Country Club, Ikeja, Lagos. The tournament will feature the 64 men and top 32 women that will begin their campaign from the qualifying draws and another 64 men and 32 women from the main draw. According to the Group, Executive Director of Rainoil Limited, Mrs. Godrey Ogbechie, “Rainoil has been sponsoring tennis for over 10 years now with the Rainoil Tennis Open and this competition is our contribution to both youth and sports

development using Tennis as the platform. The competition brings members together in a friendly atmosphere and gives them the opportunity to gain bragging rights and improve on their rankings.� The finals for the men and women’s teams will take place on Sunday December 8, 2019 with winners in the male and female categories going home with a total grand prize of over N5, 000, 000. Rainoil Limited is an integrated downstream oil and gas company with over 20 years business experience. A prominent player in the Nigerian industry, the company’s operations span across the downstream value chain i.e. Petroleum Product

Storage, Haulage/Distribution and Retail Sales. Our primary products include Petrol (PMS), Diesel (AGO), Kerosene (DPK), ATK (Aviation Turbine Kerosene) and Liquified Petroleum Gas (LPG). Also speaking during the press conference, the ; Board Member of the Nigerian Tennis Federation-, Mrs. Funmi Adako expressed a profound appreciation to Rainoil Limited for choosing to sponsor Tennis tournament She described the initiative as a very commendable one as it has a great chance of helping the youths discover themselves and be creative in their approach to sports. She also urged the participants to make good

use of the opportunity noting that she is convinced it would have great impact in their lives. Earlier in his opening remarks, the Sports secretary Lagos Country Club Mr. Segun Aluko thanked the Rainoil for sponsoring 2019 Rainoil Tennis Open tennis tournament being hosted by Lagos Country Club (LCC). According to him ‘’We are the foremost family club in Nigeria and are proud to host the only clay-court tournament in 2019. LCC Tennis has the largest number of junior players when compared to any other recreational club in Nigeria and this tournament provides a great platform for the continued development of tennis in Nigeria.

Fayele, Odusanya Hit Q’finals at Asoju Oba T’tennis Defending champions and top seeds David Fayele and Bose Odusanya continued their dominance in the men and women singles after qualifying to the quarterfinal stage at the 51st Asoju Oba Molade OkoyaThomas Cup holding at Teslim Balogun Stadium. Southpaw Fayele will be facing his biggest test when he battles former national junior star Joseph Osendukwu in one

of the quarterfinal matches this morning while Odusanya will have a date against Bose Akinsete Despite winning the first three games at 11-9, 11-8, 15-13 to take a 3-0 lead, Odusanya was dazed when he opponent levelled up the match with 8-11, 7-11, 8-11 to put the tie at 3-3. It was experience and her calmness that salvaged the match for Odusanya with 11-7 to record an overall 4-3 win.

Also former champion Tolu Durosimmi-Eti was tested but she came through against Aliat Adedeji. An unseeded Adedeji overwhelmed Durosimmi-Eti in the first game with 11-1 win but the experienced Durosimmi-Eti worked her way with 9-11, 11-5, 11-4, 11-6 to record 4-1over her opponent. Also in the women’s singles, Kosoko Wuraola fell to Anu Ajuwon at 2-11, 1-11, 3-11, 3-11.

Number three seed, Taiwo Williams was shown the door by unseeded Bose Oyeniyi with a 4-2 (5-11, 8-11, 6-11, 11-8, 11-8, 8-11) win in the quarterfinal. Two former champions will clash in the semi-final as Odusanya takes on DurosimmiEti while Kehinde Oyeniyi slug it out with Anu Ajuwon. The doubles events will start later today at the same venue.

Ikeja Golf Club Honours Caddies The management of Ikeja Golf Club in Lagos has said that the club is committed to the development of the caddies community as a social project. Abdulrasheed Adebisi who is the representative of the group at the club’s Executive Committee said the caddies are one of the biggest representatives of the different job clausters that golf creates and their role is strategic.

Monday November 25 was the club’s Caddy Day where they were hosted to golf event and career talk among other activities. The event was bankrolled by ICMA professional services “ Our goal was to communicate to them career options that are open to them by virtue of being around the game and helpful life hacks. “ Some of the best golfers in

the world and even in Nigeria were drawn from the caddies ranks. But today, there are administrative and other roles that their knowledge of the game have given them edges to fill,� he said. Over 50 caddies including invited representatives from Ikoyi and Dolphin golf clubs in Lagos took part in the event. Dolapo Adekanbi shot 74

gross score to lead the chase for the best caddie player of the year, while Kazeem Fadesere returned two shots behind to emerge runner up and Jimoh Eneye placed third. Adebisi said that the top five players would be given a year unrestricted access to the golf club, which would afford the hone the golf talent they have displayed.

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WEDNESDAYSPORTS

Will Nigeria Ever Be Great?

FOR THE LOVE OF GOLF ‌ L-R: Deputy General Manager, Southern Sun Ikoyi, Cliff Shiridzinodya; Overall Male Winner, AdewemimoSumonu; Head, Enterprise Sales, Enterprise Group, Globacom, Eric Nwaoma and General Manager, Southern Sun Ikoyi, Mark Loxley at the Prize-giving ceremony of Southern Sun Ikoyi 8th Annual Golf Tournament in Lagos

U E FA C H A M P I O N S L E AG U E

Ancelotti’s Future in the Air as Troubled Napoli Visit Anfield Napoli head for Liverpool tonight for a Champions League which could prove crucial to coach Carlo Ancelotti’s future at the troubled Italian club. The three-time Champions League winning coach’s second season at the Stadio San Paolo has proved to be a complicated one, after leading them to second in Serie A in his first year. His team’s fortunes have waned after the high of opening their Champions League campaign with a 2-0 win over reigning European champions Liverpool, with dressing room unrest amid friction between the players and club management. Napoli president Aurelio De Laurentiis ordered the team to be confined to a week-long training camp earlier this month after

UCL RESULTS (MATCH-DAY 5) Galatasaray Madrid Zvezda Spurs Atalanta Man City Lokomotiv Juventus

1-1 2-2 0-6 4-2 2-0 1-1 0-2 1-0

Brugge PSG Bayern Olympiacos Zagreb Shakhtar Leverkussen Atletico

Ancelotti

a 2-1 league defeat to rivals Roma saw them slip to seventh in Serie A. But as Ancelotti voiced his disagreement with the lockdown, the players all returned home after a 1-1 draw against Salzburg three days later, which stalled their bid to reach the Champions League last 16. “The relationship between the president and I is excellent and nothing changes,� Ancelotti had insisted after saying he disagreed with the ‘ritiro’ or training camp.

Film mogul De Laurentiis threatened to sell the entire squad and take legal action against the players after the dressing room revolt. And the sanctions began to fall this week amid reports Monday the players would receive hefty fines for breaking the lockdown. Gazzetta Dello Sport reported that players’ salaries for the month of November – apart from those out injured at the time – will be cut by a quarter. Brazilian Allan, who had an argument with Edoardo De Laurentiis, son of the Napoli president, will see his salary slashed by half, or 200 000 euros ($220 000). In total, players’ salaries will be cut by 2.5 million euros ($2.7 million). The club have also imposed a media silence with Ancelotti and the players refusing to speak after Saturday’s 1-1 draw against AC Milan extended their winless run to six games in all competitions, and left them 15 points behind Serie A leaders Juventus, out of the European places. However, under UEFA rules Ancelotti will be obliged to speak during a news conference at Anfield on the eve of the match,

with Napoli confirming that he will be present. “We are not satisfied with the performance and the ranking, but it is also true that we deserved more points and more luck in various games,� Ancelotti said earlier this month “The situation must be considered with a cool head.� Ex-Juventus coach Massimiliano Allegri, meanwhile, was seen in the stands at San Siro on Saturday, fuelling speculation he could be waiting in the wings. Napoli are still on course to qualify for the Champions League knockout rounds as they are second in Group E behind Liverpool, four points ahead of third-placed Salzburg with two games to play. They will reach the last 16 if they beat Liverpool or if Salzburg do not beat Genk, having failed to advance past the group stages last season. But they come up against a Liverpool side who have an eight-point advantage on top of the Premier League table and whose only loss this season came at the San Paolo. To add to their problems Napoli will be without captain Lorenzo Insigne, who hurt his elbow in Saturday’s match.

Ruiz Jr Vows to ‘Make History again’ in Rematch with Joshua Andy Ruiz Jr has vowed to “make history again� in his world heavyweight title rematch with Anthony Joshua. Ruiz Jr, 30, arrived in Saudi Arabia on Tuesday to begin preparations for the ‘Clash On The Dunes’ on 7 December. “It feels good. You know

I made history in New York and I’ll make history again in Saudi Arabia,� he said. Joshua, 30, is seeking to regain the WBA, IBF and WBO heavyweight titles after his shock defeat by Ruiz in New York in June. The bout is the first

heavyweight world title fight to take place in the Middle East and will be staged in the 15,000-seat Diriyah Arena. Work on the purposebuilt stadium only began in October but it is now close to completion. Joshua visited the arena,

which promoter Eddie Hearn described as “utterly breathtaking�, on Saturday. In June, Mexican-American Ruiz floored Joshua four times en route to a seventh-round stoppage at Madison Square Garden, handing the Briton his first defeat as a professional.

Amun, Rufai, Aluo Get Diamond Academy Award Umuahia-based Diamond Football Academy, would on December 11 bestow special award on some Nigerian football personalities during her 7th year anniversary. Topping the list of those to be honoured is former Golden Eaglets Coach, Fanny Amun who led Nigeria to win the FIFA U-17 World Cup in Japan in 1993. Amun rose to become the secretary general of the Nigeria Football Federation (NFF).

Former Super Eagles first choice keeper, Peter Rufai would also be honoured alongside “Gentle Giant�, Uche Okechukwu who was part of Nigeria’s debut squad at USA ‘94 World Cup. Seasoned sports journalist, George Aluo who is the Sports Editor of The Nigerian Xpress Newspaper cum Anchor of Sportsville, a weekly sports TV show on Channels Television is to be honoured with “Diamond

Sports Media Personality Award.� President of the Academy, Prince Martins Ilechukwu Apugo in a statement said the Academy is honouring personalities who have contributed in lifting Nigerian football in line with the core values of Diamond Football Academy. “In Diamond Football Academy, we strive for excellence and this has seen

us in less than a decade produce stars who are doing Nigeria proud in the round leather game. “We are proud to have produced the duo of Kelechi Nwakali and Samuel Chukwueze both of whom are today lacing booths for Nigeria. We are determined to discover more talents in the years ahead,� Apugo stated. Diamond Football Academy was established in 2012.

I am usually at a loss when confronted with this question. How do I answer? You look everywhere you see more than adequate potential to achieve greatness. Yet there is always something inherently inhibiting. You see an abundance of all possibilities squared off with profligacy and inbred stupidity. How do you then answer questions about the future? Let me illustrate how difficult it is to say anything about the future of our country. Last Saturday I was watching Arsenal with my seven year-old grandson who I think supports the London club mainly to humour me. Earlier in the day, he had expressed his intention to quit Arsenal and join Liverpool. I spent some time explaining to him why you don’t leave a club because it is going through a bad patch and your friends mock you. That when you belong to any organization you stay in it to make it what you want. Then the match with lowly Southampton started. We got a goal down then equalised. Seven minutes from time, my grandson asked: “Are we going to win this match?� I told him I can not say. And that made me feel sad. Our team has a better pedigree than Southampton. Collectively, Arsenal players cost about ten times more than theirs. We have some of the best players in the Premiership and yet... That is the situation that sadly reflects our country. We are lavishly blessed, extravagantly so! Almost every piece of our land is enriched with wealth- yielding resources. Our soil will grow any type of food. The Lord, I believe, created us to be a blessing to a segment of His people - the Black Race. We have more than enough share of highly endowed talents in our country. Sadly, we can’t compete with our less blessed neighbours. Despite all the blessings thrust on our nation, we have remained ‘the poverty capital of the world.’ Where did we go wrong? When did we miss our way? Would it be possible to refocus our team Sports Minister, Sunday Dare and make it secure its God given destiny? What can we do to rekindle our national fire and make it appear like a beacon of hope for everyone? First, we must find out what we can do to remedy our situation. The first step is to accept the fact that we are in very bad shape. Like Arsenal, we have lost our bearing and have slumped very badly. Our nation is floundering and dithering, and have lost our focus. Our leadership is largely insulated from our reality and appears out of its depth. Much like Unai Emery who prescribed a system that is not working, our rulers have failed to find a solution for our malaise. Their one system, fits all approach, is creating tension and worsening our condition. We are not using our best players adequately. Sometimes, we spite them to appease the idol of the tribe. And our elders are more interested in protecting their interests than in seeking national growth. We are a nation constantly in turmoil because we have failed to identify with a common goal, which we appear unable either to design or adhere to. Like Arsenal, we have lost our pride of place. Our awesome reputation has been replaced by behind-our-back-sniggers. And the Nigeria that Britain and America once feared and respected has become a beggarly nation constantly violated by carpetbaggers. And every four years, the worst of us is foisted on the rest of us. Will Arsenal be great again? Yes, it will be. It rose to greatness, forging an identity of the best football playing team in England in the process. It achieved further greatness by being the first football team in the UK to play 49 matches unbeaten. To be great again, all the club needs do is to look again at what template it followed to become great. Will our country become great? This is more difficult to answer. But I strongly believe that we can be if we strive to pull together in targeting a common goal If we concentrate more on the many things that bind us than on those little things that reflect our differences. We must stop the finger pointing that marks some as saints and others devils. We must resolve to have only our best eleven represent us and not seek refuge under a fawning demagogue of Tribe and incompetence. Our Truth must become universal and not have tribal or religious coloration. We must have space for everyone to contribute to our national development, shunning age old idiocy of the supremacy of a group. We must have a team that has Senator Shehu Sani working hand in glove with El Rufai. We must have a Jagaban that does not seek to impose his will and way on all and sundry. Our new Nigerian team must give space to everyone. We can only become great when we are all equal shareholders in Team Nigeria that is not held hostage by the worst of us. I believe we will become great again, someday. May the Lord bless our dear country Nigeria.

Wednesday November 27, 2019

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Price: N250

MISSILE

Jonathan to Lamido “Where was Lamido when Jonathan campaigned vigorously and helped the PDP to win Bayelsa governorship election in 2015 under the same President Buhari?” – Former President, Dr. Goodluck Jonathan, accusing former Jigawa State Governor of blackmailing him over the Bayelsa governorship election.

OKEYIKECHUKWU

EDIFYING ELUCIDATIONS

okey.ikechukwu@thisdaylive.com

INEC and Off-season Elections T

here is often the assumption, mistaken in my view, that there should be far less security and other challenges any time elections are taking place in only one or two states of the federation. It is easy to argue that we need not deployment tens of thousands of police and other security personnel on such occasions. But is that correct? Is it actually a waste of resources and manpower, as well as a pretense that the people so deployed are useful in determining the extent of security and the integrity of election outcomes? Are we right in inferring that the repeated cases of electoral misconduct, and even untold mayhem, which followed some off-season elections, including in particular the recent one in Kogi State, justify the view that the extra security on such occasions is unnecessary? But this argument, plausible it may seem, does not have very strong legs to stand upon. It draws its apparent strength from a failure to distinguish between the actual needs of any electoral environment and the failure of those who should secure the environment for the Independent National Electoral Commission (INEC) to perform its duties. Security is needed but it is not the duty of INEC to own an army, or command same, in the process of preparing for, conducting or managing elections. That is the job of the police and other security agencies. It is only by collaboration and synergy that things can go smoothly. This is without prejudice to the activities of political mischief makers, as well as the possibility of having compromised security personnel during some elections. Another point of interest in examining election issues in Nigeria is that there is actually more danger when elections are taking place in only one or two states. We forget that the thugs and sundry never-dowells at the disposal of many politicians in other states are largely idle when there is no election in their states. This means that many such characters are available to be recruited. Their “seasonal trade” cannot be booming in another part of the country and they will fold their hands and resolve to be of good behaviour. That is why the keepers of these “hunting dogs” will naturally be on the lookout for “customers.” Not for them the fine talk about patriotism, rule of law, electoral transparency, citizens’ right to choose, etc. Utter bunkum, they would say, if anyone cared to hear! All that they can see at such times is “business.” And any INEC official, policeman, State Security or Civil Defence who stands in their way is a challenge to their business and means of survival. It is against the background of the foregoing that one cannot reasonably deny the compelling need to beef up security, far beyond what would ordinarily be needed during any election, if such elections are taking place in only one or two states of the federation. It is also against the background of the foregoing that a blanket condemnation of either INEC, or the national security

INEC Chairman, Prof. Mahmood Yakubu establishment, for whatever happens during elections can be said to rest on a fundamental misunderstanding. While the misuse of the national security apparatus must be seen for the crime that it is, we must pay close attention to the fact that the travesty occurs at the higher levels of political leadership. That is where the threat of sack for non-compliance that hangs over most public office holders, military or not, comes from. But any discussion about the dearth of men and women of integrity who can stand up to be counted, by refusing to bow to questionable political pressures, is a matter for another day. But it is not for us to throw up our hands, or slap INEC in the back and say, don’t mind them you are very helpless in all of this. We cannot stop focusing on the ideal at all times, refusing to accept the misdeeds that are now beginning to look normal in our clime. But we must also simultaneously acknowledge that we are still in a largely immature political environment, where electoral processes, structures and templates are still far from sacrosanct. There are still far too many political actors who try by all means to influence both the processes leading to the elections and the election outcomes themselves. Yes, desperation thrives here. Yes, the violation of the peoples’ right to free choice is not yet seen for the anathema that it is. But a day will yet come…

For now, money is still generously deployed as lubricant for the desperate designs of both political aspirants and their sponsors. The internal democratic practices of the political parties themselves stink of perfidy. Party primaries are mostly grand conspiracies. This defect cuts across all the political parties, big and small. Financial settlement of persons with measurable nuisance value is still a consciously and deliberately executed programme of appeasement and agenda setting. The godfathers are still calling for the common till. Now, put all of the above together. What do you have? Do you not see a thriving leadership elite that knows anything about loyalty to the people, service delivery and positive role modelling? Do you not see a nation with the right concept of development? Is it right to carry on as if leadership and national development are all about budgets, the award of contracts, expansion of elite entitlements and allowances? Should we not be embarrassed that, after trillions of Naira and 20 years of democracy, we still have no electricity, no good roads, no security, worsening education outcomes, more privileges for former office holders and elected officials? Is it right that the budget for the National Assembly should be more than that of the ministries of education and health put together? Do you not see why it is sometimes unfair to isolate INEC and blame it for a national malaise that is enough go round the Peloponnese four time and back? Our political parties, to the extent that we insist on calling them that, are a far cry from what they should be. They make no investment in the political education of their presumed members. There manner of proceeding has put paid to the question of whether they have any interest in the people at all. All they plan for in the bid to get power is or “win” elections is (1) compromise whoever is available to be compromised, (2) take over the space where an electoral contest is to take place, if they can, (3) terrorize or subdue INEC officials, if that is the only way to determine final election outcomes, and (4) try any other thing they think they can get away with, based on their political clout. That is why our politicians and our political parties do not see any need to go around random and recondite neighbourhoods, in

We now have in our country a new the type of democracy that can best be described as “government of the people who wield the instruments for perfidious engagements, by the people with great capacity for debauchery and the enactment of the absurd, for the people who believe in nothing, live for nothing and worship plunder and power at everybody’s expense; and without regard for INEC’s Statutory duties.”

the name of asking for votes. They can, and do, invent the votes. Why should they not want a political process wherein it does not matter in the end whether the people vote for you or not; or even whether they even vote at all? But, notwithstanding all of that, I still think that it would be incorrect to say that ours is not a full blown democracy. It is! The caveat, though, is that it is perhaps one of the few democracies in existence today that operates without the people. Well, not quite, if you think seriously about it. We now have in our country a new type of democracy that can best be described as “government of the people who wield the instruments for perfidious engagements, by the people with great capacity for debauchery and the enactment of the absurd, for the people who believe in nothing, live for nothing and worship plunder and power at everybody’s expense; and without regard for INEC’s Statutory duties.” That is why we are where we are today. That is why there is a radical disconnect between the democratic enterprise, the welfare of the people and the popular conceptions of democracy elsewhere in the developed world. That is why, despite pretensions and appearances to the contrary, the Nigerian State stands in bold relief as a criminal enterprise. And it is within this environment that poor INEC is expected to perform wonders. It is within this environment that INEC is deemed to be unilaterally capable of securing the space by itself. Does the organization command an army, or is it just another institution of state that can only function effectively and efficiently in collaborative endeavours with security agencies? Can INEC perform the role of high priest in a room full of drunkards where, as a rule, it is a crime to be sober; or act sober? What do you expect of an electoral body saddled with the unenviable task to teaching table manners to angry and hungry bus conductors at Ojuelegba roundabout in Lagos? People with the slightest modicum of political table manners will starve, of course. So, how will majority of the players in this game see anyone who tries to enforce table manners, or who tries to teach “live and let live?” At one level, there are political actors who would always like to compromise INEC, so that it facilitates their violation of the rules. At another level, there are those who would like to prevent it from performing its lawful duty, even when it is determined to be objective, impartial and committed to its assigned role as neutral umpire. For a regulatory agency charged with the task of moderating the political behaviour of politicians, political parties and the citizenry, INEC faces a most unenviable assignment. That is why it is always in the line of fire for both foreseen, unforeseen and even unforeseeable events; including even bad weather in Sao Tome. It comes with the job, I guess. While admitting that the electoral body has improved in many ways since 1999, it still has some challenges – mostly exogenous and surmountable challenges.

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