MONDAY 30TH SEPTEMBER 2019

Nigeria’s Oil Revenue Threatened as India Shifts to Alternative Market FG sues firm for alleged violation of Nigerian Content Act Ejiofor Alike with agency reports Nigeria is about losing one of its major oil customers, India, as the world’s third-largest oil importer has found a new

market in cheap crude oil supplies from Iraq, according to a report yesterday by Reuters. Also after nine years of using the persuasive approach and warnings to compel oil

and gas industry stakeholders to comply with the Nigerian Oil and Gas Industry Content Development (NOGICD) Act of 2010, the federal government through the Nigerian Content Development and Monitoring

Board (NCDMB) has finally entered the legal fray by filing a suit at the Federal High Court, sitting in Warri, Delta State, against Sterling Global Oil Resources Limited, an indigenous oil producer, for

alleged violation of the Act. India oil imports from Iraq increased to a record high for the first time as it bought about 1.32 million barrels per day (bpd) of Iraqi oil in August. This was 29 per

cent higher than its August imports in 2018. Its crude oil imports from Nigeria, Angola, Cameroon and Chad, which are Continued on page 10

Businesses Anticipate Liquidity Boost as Deadline for New Lending Policy Ends... Page 8 Monday 30 September, 2019 Vol 24. No 8939. Price: N250

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Our Ordeals in Kaduna House of Horror, By Rescued Kids Alike Ejiofor with agency report

PRAYERS FOR NIGERIA @59... L-R Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler; former Head of State, General Yakubu Gowon; Deputy Senate President, Senator Ovie Omo-Agege; Vice President Yemi Osinbajo and his wife, Dolapo, during the Independence Day interdenominational church service in Abuja… yesterday

Children who were among the over 400 people rescued from captivity at the Islamic School in Kaduna State have continued to narrate their ordeals in the hands of their captors. Reuters spoke with seven victims and five parents of the victims, withholding their full names to protect their privacy. One of the victims, simply known as Jibril, said he was Continued on page 8

In Major Crackdown, Customs Shut Car Dealers Across Lagos We’re only interested in revenue recovery, says agency Coscharis, Globe Motors, Skymit, Inehmic Affordable, Carlink affected Eromosele Abiodun In continuation of its war on smuggling in line with the closure of land borders across the country, the Nigeria Customs Service (NCS) in a major crackdown yesterday shutdown some car marts

suspected to have smuggle vehicles into the country through the land borders. THISDAY gathered that members of the Comptroller General of the service’s strike force and officers attached to the Federal Operations Unit (FOU), Zone ‘A’, Ikeja

stormed the popular Berger along Apapa-Oshodi Express Road and other major car dealers’ premises across Lagos in search of smuggled vehicles and subsequently shut down the car marts until further notice. It was learnt that the car

marts were closed on the orders of the Comptroller General of the Service, Col. Hameed Ali (rtd), for allegedly retailing smuggled vehicles in the shops. The Customs Public Relations Officer, Joseph Attah, who confirmed the

development to THISDAY yesterday, however, denied that car dealers who are not involved in selling smuggled cars were shut down. According to him, “Yes a number of car marts were shutdown based on credible information that there were

smuggled vehicles in these car marts, but the sealing is just temporary. As from this week we will assess the situation and advised them accordingly as to what they should do.” Asked how many dealers Continued on page 8

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After 77 Days in Kidnappers’ Den, Siasia’s Mother Regains Freedom... Page 10

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Businesses Anticipate Liquidity Boost as Deadline for New Lending Policy Ends Obinna Chima As the deadline given by the Central Bank of Nigeria (CBN) for commercial banks to maintain a 60 per cent loan-to-deposit ratio (LDR) ends today, operators of businesses have expressed optimism about increased lending in the economy. They also described the policy as a step in the right direction. The total industry LDR stood at 57.64 per cent as at July 2019, which is just less than three per cent below the target, according to the latest CBN monthly economic report. It has been predicted that the new policy would unlock about N1.5 trillion bank lending for businesses.

The CBN had said the new LDR would be subject to quarterly review. Commenting on his expectation, the Director General, Lagos Chamber of Commerce and Industry (LCCI), Mr. Muda Yusuf, said the greatest challenge business operators have been facing over the years was access to credit, which has resulted in huge financing gaps. He added that the banks have also been focusing on attractive government securities, thereby neglecting MSMEs desperately in need of loans. “These developments created considerable distortions in the financial markets and considerably impeded

domestic investment. It created major financial intermediation issues as the banking system became largely disconnected from the investing public. The real sector investors and the SMEs were the foremost victims of this distortion. “The LCCI sees this new lending policy as a timely policy intervention to normalise the credit markets, spur economic growth and broaden the interface between entrepreneurs and the banking system. The banks will be obligated to be more tolerant of the entrepreneurs and be more creative in the creation of financial assets. The LCCI expects that the new lending policy would impact the economy

positively,� he stated. On its part, Moody's Investor Service said the policy would help to stimulate consumer lending in Nigeria. "The directive aims to stimulate lending to the real economy. To motivate small and midsize enterprise, retail, mortgage and consumer lending, loans to these sectors will be assigned a weight of 150 per cent when calculating the LDR for this purpose. "Banks that fail to meet the 60 per cent minimum LDR will pay an additional cash reserve requirement (CRR) equal to 50 per cent of their lending shortfall,� it said. It pointed out that consumer lending in Nigeria

was hampered by lack of good household credit records and weak recovery enforcement, adding that midsize banks tend to have higher exposure to consumer and that SME loans tend to report higher non-performing loan (NPL) ratios than large banks. Furthermore, the rating agency noted that the policy would support loan growth recovery in Nigeria and support banks' revenue. The Managing Director/ Chief Executive Officer, Guaranty Trust Bank Plc, Mr. Segun Agbaje, had in a recent interview on the policy on Arise Television, the broadcasting arm of THISDAY Newspaper, said: “To boost real sector, you have to lend. There is no

way you can boost the real sector without lending. So, this is just to give the banks comfort to be able to grow their loan books and not worry too much about the non-performing loans that happened as a result of that growth.� The CBN had in a circular on the directive in July, stated that “failure to meet the above minimum LDR by the specified date shall result in a levy of additional Cash Reserve Requirement equal to 50 per cent of the lending shortfall of the target LDR. “The CBN shall continue to review development in the market with a view to facilitating greater investment in the real sector of the Nigerian economy.�

Nigeria Limited or Elizade Motors. “They came and put a sticker, sealed off the place and said come to FOU in Ikeja. That was all. No information or notices. It was not as if they came and found smuggled cars in our premises. They didn’t even ask for anything. Globe Motors and Inehmic were the first place they went to around 7a.m. They came to my place in the evening. One will expect that they will at least ask for documents but nothing,

they just sealed off the place,� he said. Another car dealer whose mart was shut around Oregun said his documents were up to date. The dealer, Chukwudi Nwachukwu, said he was surprised that his stand was shut down by the service. "I was shocked when my mart was shut. I operate at Oregun and I can tell you that my documents are up to date. In fact, am printing my documents to take to FOU, Ikeja for them

to unsealed my business," he added. One of the dealers with link with a global brand told THISDAY that the company imported its vehicles through official channels and had documents to prove the legitimacy of its transactions. The source from the company said they would find out from Customs what went wrong when they honour the invitation to appear before the FOU today.

“The teachers and prefects raped boys. Those who were sexually molested were enticed with canned fish. Those of us who refused were caned,� he said, blaming a scar beside his left eye on a caning. “They used planks of wood to beat us.� He now struggles to raise his arms since his punishment for trying to escape. He was sent home for six months after that incident. His family returned him when he had healed. Jibril and Suleiman are now in a safe house on the edge of Kaduna while the authorities try to find their relatives. Their temporary home is filled with laughter as boys and teenagers, up to 17 years old, play together. Those adults who were freed are staying in a neighbouring building. At the Kaduna institution, relatives were not allowed to see boys for three months after admission and had limited visiting rights after that, parents and children said. Punishment was swift for those who talked of any abuse, the boys said. “If anyone tried to tell their family, they would be hung up from a wall or put in chains,� said 14-year-old Umar, whose grandfather sent him to the facility two years ago for

skipping school. About 40 police officers finally raided the building, acting on a complaint by an uncle who was denied access to his nephews. Police said they found several boys and men in chains. Some boys said they were shackled to broken power generators, which they dragged around, including to bed or the bathroom. Police said they expected to charge seven people, who they said ran the institution, over physical and sexual abuse allegations. Those arrested could not be reached for comment. Islamic schools, known as Almajiris, are common across the mostly Muslim dominated northern Nigeria. Muslim Rights Concern (MURIC), a local organisation, has estimated that about 10 million children attend Islamic schools in the north. Some parents defended the Kaduna institution, which charged fees of N35,000 per term. “There is no problem in this school,� said a woman who only gave her name as Zainab, wearing a Muslim veil and speaking outside the locked gates. She said she had seven children at the institution where she cooked meals and had not seen any abuse. Ahmed Balarabe, a tailor

who lives next to the site, said two of his children attended the school and he had never encountered any abuse. “It was good for them, they became calm,� he said. “They showed them how to read the Quran. I liked it.�

IN MAJOR CRACKDOWN, CUSTOMS SHUT CAR DEALERS ACROSS LAGOS were shutdown, he said, “As of now I don’t have the numbers but those not involved in any bad business were not shutdown. But I can confirm that some numbers have been shutdown. Within the week, customs will take a look at the records of each vehicle in these car marts and appropriate actions will be taken. Attah who also confirmed that no arrests were made added that the action was not taken to

inflict harm on anyone but to ensure that government gets its due revenue. “The target is not really to bring any unnecessary hardship to any individual, the idea is to see the possibility of either seizure or recovery of revenue for such vehicles,� he added. When THISDAY contacted the managing director of one of the companies affected, he said car dealing marts were stormed in a Gestapo style with four trucks load of customs officers who

pasted closure notices on their premises and asked that they report to the FOU today. “All car dealers in Lagos were shutdown, Affordable Cars Limited, Carlink Limited, InehmicAutos, Globe Motors, COSCHARIS and Skymit Motors, Arrowhead Motors, Wonder Wheels Motors, Auto Point Motors and any name that you can think of were all shutdown. Even Stallion Motors was affected. The only one I cannot confirm is Toyota

OUR ORDEALS IN KADUNA HOUSE OF HORROR, BY RESCUED KIDS hung up by his arms until bones in his shoulders broke because he had attempted to escape from captivity. Another teenager freed in Thursday’s police raid, said boys were often kept in chains and those caught stealing food were whipped until they bled. “They used car engine belts and electrical cables to flog us. “Teachers used to sexually harass us ... They tried to loosen my pants once but I fought them off and was beaten,� 15-year-old Suleiman stated.Horror stories have continued to emerge about life in the two-storey house as the authorities try to find families of the victims who had spent years at the school. Police arrested seven adults in the raid on the building, which had a sign in Arabic at the entrance declaring itself “House of Imam Ahmad Bin Hanbal for the Application of Islamic Teachings.� President Muhammadu Buhari, while reacting to the raid on the building shortly after he returned from a United Nations engagement in New York, described the school as a house of torture and place of slavery. He said his administration would not condone abuse

of fundamental rights of citizens, whether children or adults. Some parents were said to have paid fees, believing it was an Islamic school. While some described it as a good institution and dismissed talk of abuse, others saw it as a correctional facility. But police and officials of the Kaduna State government said it was not registered as either. Despite mixed accounts about its role, the abuse reported by victims has thrown a spotlight on Nigeria’s struggle to provide enough school places for its rapidly expanding population, leaving a gap for unregulated institutions that poor parents sometimes turn to. Nigeria’s population will swell from 190 million to 400 million by 2050, according to UN figures. Primary education is officially free but about 10.5 million Nigerian children aged five to 14 are not in school. Prior to Thursday’s police raid, those who made it out of the Kaduna institution were sometimes returned by families. Some parents said they needed to discipline wayward children and others said they were too poor to look after all their kids.

Kaduna State Government said there were at least 77 boys under 18 years old held there. The youngest was five. All the victims said beatings were regular and said children and men were frequently shackled. Days were dark, long and hungry: food was only served at 10 a.m. and 11 p.m. Suleiman’s elder brother sent him to the institution five months ago for skipping school. He was signed up to board while he studied Arabic and Islam’s holy book, the Quran. “They beat us everywhere in the house, even in the mosque. If you asked to speak with your family, they would shackle you,� said the 15-year-old, who showed sores, scabs and scars on his back. When Suleiman and three friends were caught trying to steal some garri, they were stripped and whipped. “When the police raided the school, the whole place was in pandemonium, we were so happy,� he said. “What I want now is to return home. I’ll be a good boy.� Jibril, now 17 and who was hung up for trying to escape when he was 10, said boys faced a stark choice: submit to regular sexual assault or be beaten. Jibril chose beatings.

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NGN NGN 50.60 556.60 10.00 120.00 24.50 308.00 1.00 16.00 0.01 0.24 NGN 1.65 14.95 0.12 1.12 0.25 2.34 CHIPLC 0.03 0.30 CORNERSTONE 0.04 0.42 HPE Nestle Nig Plc â‚Ś1,345.00 Volume: 187.291 million shares Value: N2.128 billion Deals: 2,942 As at Friday 27/9/19 See details on Page 35

% 10 9.0 8.6 6.6 4.3 % 9.9 9.6 9.6 9.0 8.7

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NEWS

After 77 Days in Kidnappers’ Den, Siasia’s Mother Regains Freedom We paid N3m to secure her release, says sibling Family mulls relocating matriarch to forestall third abduction bid Duro Ikhazuagbe Seventy-seven days after Madam Beauty Ogere, mother of former Super Eagles Chief Coach, Samson Siasia, was kidnapped from her Odoni community in Sagbama Local Government Area of Bayelsa State, the 76-year-old regained her freedom in the early hours of yesterday. Spokesman for the Bayelsa State Police Command, Asinim Butswat, a Deputy Superintendent of Police (DSP) confirmed her release yesterday. Shortly after her release, the family took Madam Ogere, who has a history of high blood pressure and was without her medication for over two months, for an immediate medical check-up. The former Super Eagles coach told THISDAY yesterday that “they are happy that their mother has returned home from the kidnappers’ den. It is only God that made that possible otherwise it would have been a different story.� Pressed to reveal how much ransom was paid to the kidnappers before his mother was freed, Siasia who admitted they paid some money, declined to give the figure.

“Yes, just like the last time, we paid some money,� he said. But one of his siblings told THISDAY that they coughed out up to N3 million for their mother’s freedom. “Right now, the most important thing for us is to get Mama to see doctors for proper check-up and treatment. After that, we will decide what to do to avoid this sort of nonsense going on around here in Bayelsa,� Siasia said. Asked if he was going to relocate his mother from the state to avoid a third attempt on her life, Siasia was affirmative on that, saying: “ Of course, we are going to take her away from here after the treatment. It appears she is no longer safe here as some people are hell bent on using her to extort money from us. There will be no third time, I can assure you on that.� Siasia expressed sadness that all through the over two months that his mother stayed with the kidnappers, the Bayelsa State Government did not make any attempt to come to the aid of his family. “What type of state government is that? We made series of efforts to

Madam Ogere get the state government to intervene and get our mother out of the kidnappers’ den, all the efforts were in vain. Those in government do not know how we went about getting her freed from the kidnappers. I don’t think this is good enough from those we elected to serve us. They promised to provide and protect us from harm,� he stated.

THISDAY further learnt that after struggling to raise the N50million ransom the kidnappers initially demanded, and which they refused to negotiate, the Siasias resorted to fasting and prayers for divine intervention. Siasia’s wife, Cassandra, who is a prayer warrior, reportedly led them in the supplication to God

to intervene in the matter from her base in the United States. “Samson’s wife is a prayer warrior, she took the matter to God in prayers and urged other members of the family to key into believing that Mama will return home safe and sound. I am really happy for the Siasia even though they still had to cough up some money before their mother could be released,� another close friend of the coach told THISDAY yesterday. Earlier in 2015, Madam Ogere was similarly kidnapped from her home in Odoni and kept for days before she was released. The family paid the kidnappers N1.5million for her freedom. Observers believed that the abduction was more pathetic because it coincided with the travail of Siasia, who was slammed with a life ban by world football governing body, FIFA. On August 16, FIFA said in a statement that the adjudicatory chamber of its Independent Ethics Committee found the 51-year-old Siasia guilty of accepting to receive bribes in relation to manipulation of matches in violation of the code of ethics of the soccer governing body.

Siasia, however, pleaded not guilty, claiming that he was not given the opportunity to defend himself against the allegations. He opted to appeal the case before CAS in the bid to clear his name from the scandal.

Victim: I Don’t Know Why they Abducted Me Again Madam Ogere told newsmen yesterday that when the kidnappers came for her, she asked them if they were not tired of kidnapping her. She said: “I don’t know why they kidnapped me again. Only God knows. It is because of Samson. It is because of Samson. They said that my son is a millionaire. That is why they are abducting me. “They did not beat me. They were buying me medicine to treat the sickness I am suffering from. When they drink garri, I drink garri with them. When they cook soup, we eat garri. Yesterday (Saturday 28) they (kidnappers) said I had stayed too long with them and I was beginning to give them trouble and they asked that I should go.�

NIGERIA’S OIL REVENUE THREATENED AS INDIA SHIFTS TO ALTERNATIVE MARKET known for its sweet crude also dropped significantly in August by 18.3 per cent which amounts to 764,500 barrels of crude oil drop as its prices rose. India became Nigeria’s biggest export destination for its crude oil from 2013 after the United States made a shift in crude oil demand by turning its attention to shale production. Statistics from the Observatory of Economic Complexity (OEC), an international trade database tool that visualises data about countries and the products they exchange, showed that from 2008 to 2018, Nigeria earned $96 billion from crude oil exports to India. However, this oil trade partnership between Nigeria and India is likely to be threatened with Iraq’s cheap oil type called Basra heavy crude, which is sold to India at a lower premium price compared to the grade’s official selling price, OSP, through tenders. The shift of its biggest oil partner due to the proximity of Iraqi’s crude to India and its cheap prices puts Nigeria’s oil sale in a precarious state. Nigeria depends on proceeds from crude oil that constitutes about 90 per cent of the country’s total revenue to finance its budget. “In the spot market,

Saudi and the UAE (United Arab Emirates) barrels are not available while Iraqi oil was easily available in spot markets at attractive prices, prompting refiners to maximise purchases of Iraqi oil,� the report said. The Organisation of Petroleum Exporting Countries (OPEC), and its allies have agreed to cut production by 1.2 million barrels per day through to the end of the first quarter of 2020, but US sanctions on Iran and Venezuela have decreased crude oil supplies. This action has enabled Iraq, OPEC’s number six oil producer, to gain its crude oil market share in India. Currently, Iraq’s crude oil output is at 4.8 million, bpd, above OPEC’s target of 4.5 million bpd, while Saudi Arabia has been producing below the targets due to attacks on its oil installations. Indian refiners are set to maximise production of very low-sulphur fuel oil (VLSFO) to supply ships from 2020 in compliance with January 1, 2019 deadline by the International Maritime Organisation (IMO) to ban ships from using fuel with more than 0.5 per cent sulphur to reduce air pollution. “Some complex Indian refiners like Reliance can even produce very low-sulphur fuel oil with high-sulphur oil like Basra

Heavy,� the report stated. Indian oil-based industries doubled Iraqi oil imports in August from the same month last year to about 1.8 million tonnes, the report hinted. This indicates that India’s crude oil demand from Nigeria is expected to reduce to accommodate Iraqi’s crude oil supplies. India is reputed to be the world’s third-biggest crude importer, meeting 83 per cent of its demand from imports from the Middle East and other countries such as Nigeria, Mexico, Venezuela and the US.

FG Sues Firm for Alleged Violation of Nigerian Content Act Meanwhile, the federal government has sued Sterling Global Oil Resources Limited for alleged violation of the NOGICD Act of 2010. It was learnt that NCDMB took legal actions against Sterling Global Oil Resources because the firm was deemed to be a serial defaulter of the provisions of the NOGICD Act and did not exploit the remediation opportunities offered to it by the NCDMB. According to court papers obtained by THISDAY, the suit is between the Federal Government of Nigeria versus Sterling Global Oil Resources Ltd, with number

FHC/WR/55C/19. The suit is being prosecuted by a private law firm, G.C Arubayi & Co for the Attorney General of the Federation, as provided under Section 174 (1) of the 1999 Constitution of the Federal Republic of Nigeria. In the five-count charge against Sterling Global, the firm was accused of refusing to maintain a bidding process in all the contracts it awarded in connection with oil activities between 2013 to 2017, thereby not giving fair opportunity to Nigerian indigenous contractors, contrary to Section 15 of the NOGICD Act and punishable under Section 68 of the Act. It was also alleged that the firm which operated Oil Mining Lease (OML) 277 and OML 280 blocks in Ndokwa-East Local Government Area of Delta State failed to locate within its project office manned by personnel to be approved by the NCDMB, in violation of Section 26 of the NOGICD Act and punishable under Section 68 of the Act. In the third charge, the firm was accused of not giving Nigerians first consideration for employment and not providing employment and training plan for Ndokwa people to cover the skill gap between Nigerians and expatriates in violation of Section 28, 29 and 30 of the

NOGICD Act and punishable under Section 68 of the Act. Sterling Global was also accused of �deploying expatriates without submitting to the NCDMB an appropriate succession plan for any position not held by Nigerians in violation of Section 31 of the NOGICD Act and punishable under Section 68 of the Act.� The fifth count stated that the company “did not obtain or receive the approval of the Board of the NCDMB before making any application for expatriate quota to the Ministry of Internal Affairs or any agency or ministry of the federal government rather you appointed 402 undeclared expatriates working on various projects in Nigeria without due approvals in violation of Section 33 of the Nigerian Content Act and punishable under Section 68 of the Act.� A senior official of the NCDMB told THISDAY that the suit was part of the intensified efforts by the NCDMB to ensure strict compliance with the provisions of the NOGICD Act by local and international operating and service companies in line with the Nigerian Content 10-Year Strategic Roadmap. The official added that the increased focus on the local firms became necessary because most Nigerian owned firms had believed

erroneously that they were exempted from the Act and they continued to engage in non-complaint acts. NCDMB had earlier moved against Heritage Energy Operational Services Limited (HEOSL), an indigenous oil producing company, for allegedly contravening the NOGICD Act. The agency had accused HEOSL of working to derail the Nigerian Content Law by frustrating local service companies working for them, through acts ranging from unilateral contracts cancellation, non/late payments of contractors’ invoices and downward review of contract rates. It also accused the company of terminating the appointment of two Nigerians in the Well Operations department because they do not want them to promote Nigerian companies and deploying non-compliant expatriates on its operations. The company was also accused of non-payment of the one per cent Nigerian Content Development Fund (NCDF) in line with Section 104 of the NOGICD Act, 2010. THISDAY, however, gathered that Heritage Energy had since executed Nigerian Content Noncompliance Remediation Activities, as a penalty for its breaches.

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COMMENT

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

VAT INCREASE AND MATTERS ARISING.

The federal government should encourage FIRS to bring more people into the tax net, argues Chike Anyaonu

T

hat the recent announcement of the proposed increase in the Value Added Tax rate from five per cent to seven-and-half per cent is generating ripples and knocks is not unexpected. The concern of those opposed to the increase, including this writer, does not only border on the rate of the increase (which is 50 per cent), but also on the justification given by government for its proposal. It is important to note that before now, the Federal Inland Revenue Service (FIRS) under the leadership of Mr Fowler had mulled over the same idea. It is therefore not in doubt that the latest product is an escalation of that particular idea up to the Federal Executive Council by the FIRS. All the same, if the idea of raising VAT, according to reports, is for the states to be able to pay the new minimum wage, then governments at all tiers must be advised to first of all start to curb wastes in governance and embrace austerity measures through which they could make and save money sufficiently. The fact is that even before now, many state governments have not been able to meet this particular obligation of payment of salaries, thereby resulting in bailout measures of some kinds in the past. Even as we speak, some state governments are owing salaries, creating serious doubt as to the capacity of those states, and indeed others to be able to pay salaries even after the proposed increase in VAT. Governors must go for a serious paradigm shift in fiscal discipline. They should not only initiate effective and efficient resource management and control mechanisms that eliminate all manner of waste in governance but also appoint experienced and talented persons into key offices. It must not be business as usual. As stated earlier, even if VAT is raised to 20 per cent many state governments will still be unable to pay salaries. The federal government will be deceiving itself by thinking that it is only an increase in VAT that will guarantee a rise in government revenue for settlement of salaries. I am to think that such spin and assumption is both funny and untenable. Value Added Tax payment is borne by the buyer, and ultimately pushes up the cost of the products. It results into inability to buy more for the buyer, or sell more for the seller. It therefore reduces volume or turnover and cripples the production end. Unless government is using it to control unending longing of Nigerians for exotic products and ostentatious lifestyles. This takes me to the fiscal reforms that have been going on in China, whose model is copiously being referred to as one that promotes both fast economic development and recovery in time of downturn. For about three years running, China has been struggling to grapple with the negative effects of her trade war with the United States of America which reportedly caused internal glut levels and forced industries to lower capacities on output. Dwindling revenues for companies also resulted in mass retrenchment of workers. Chinese government was bothered this could cause internal strife and therefore quickly reduced its VAT rate from 7.5 % to 3% at the moment. Thus, the implication is glaring sensitivity of government to the plight of China’s industrialists and citizens at large. Not only that, China is paying her old citizens of retirement age an aggregate of 700b USD to energise its economy by improving

the purchasing power of the citizens so that their industries will continue to survive. It is also investing billions of dollars to support her citizens trading beyond their boarders. A trend similar to that of China is happening in Ghana, a neighbouring West African country, where VAT rate was not only reduced recently, but also abolished in some instances. According to Ghanaian tax officials, the measure was to fast track the country’s industrial revolution and economic growth. The examples of China and Ghana alone speak volumes in terms of the benefits inherent in such measures. Here in Nigeria, not minding the crippling operating economic environment, from lack of basic infrastructure to astronomic rise in the cost of diesel and other inputs, government is proposing to increase her VAT rate. So the question is, why is Nigeria’s case different and in reverse? The answer can only be located in the corruption and squandermania tendencies in the land. A monthly FAC meeting in Abuja gives the state governors the money to fritter away in the name of monthly allocation sharing without anything on ground to show for it. People have completely lost confidence in government as there is no concrete evidence to show what it is doing with the resources available to it. This is impinging on tax collection as not many people will be willing to pay their taxes unless it becomes so compelling. To run an industry in Nigeria is not easy. Industries should be encouraged to operate at their optimal levels. Government should try to promote and encourage rapid industrial development to generate employment for the teeming unemployed youths in the country. Startups are not finding it easy to access capital, massive layoffs happening everyday are indicating that industries are bleeding badly. The proposed increase is bound to bring some negative effects on the economy. It is a sure road map to economic ruin as far as the Nigerian situation is concerned. Government must therefore not fall to the allurement of increase in revenue to further destroy a suffocating and badly battered economy. My opinion is that the federal government should drop the idea completely and give FIRS every encouragement to concentrate on its highly commendable drive to bring more tax-paying stakeholders and operators into tax rendition compliance status.

VALUE ADDED TAX PAYMENT IS BORNE BY THE BUYER, AND ULTIMATELY PUSHES UP THE COST OF THE PRODUCTS. IT RESULTS INTO INABILITY TO BUY MORE FOR THE BUYER, OR SELL MORE FOR THE SELLER

Meanwhile, all eyes are also on the recently constituted Economic Advisory Council as they settle down to address their mandate. The macroeconomic analysis of the effects of the proposal in question is under such mandate. Their advice to the president in this respect would likely determine the kind of confidence they will generate on the part of the masses. All said and done, the solace of the common man who will obviously bear the effects of the proposed increase is that the decision of the Federal Executive Council is not final. The proposal will still have to be legislated upon by the two chambers of the National Assembly. If everything else fails, I am sure that the senators and the House of Representatives members are not strangers in this country. And unless their own economy is different, there is every reason to expect that they will find a resolution and settlement on the side of the masses. Anyaonu is Director, International Center for Human Development and Rule of Law

UMPIRE OF LIBERTY

Ishmael Rufus argues that the Judiciary should be circumspect on issues of national interest

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he court proceedings leading to an order releasing the Sahara Reporters publisher and the presidential candidate of the African Action Congress (AAC) in the 2019 Election, Omoyele Sowore, should raise genuine concerns whether the gravity of the offences for which he has been charged justified his release on bail. It will be recalled that Sowore had been in the lawful custody of the DSS for 45 days following his arrest on August 3 for planning a nationwide protest tagged RevolutionNow. A day before the expiration of the period of custody, the DSS charged him with offences of treasonable felony, money laundering, terrorism and plots to overthrow President Muhammadu Buhari. A federal high court sitting in Abuja which heard arguments for and against the release of Omoyele Sowore had ordered the immediate release of Mr Sowore to his lawyer after ruling that there was no longer a valid reason to continue detaining the respondent. The prosecution counsel argued that Sowore was charged with a capital offence, conspiracy to commit treason, which by the provision of the constitution in section 161 could only be admitted to bail by

a judge of a higher court under exceptional circumstances. It added that in the interest of justice and national security, the court should make an order that the bail or otherwise of Sowore be determined by the court that will hear the criminal trial. Although the Constitution in Section 39 provides for the freedom of expression, such freedom is not absolute and it comes with its own limitations. Whether the actions of Sowore fall within such limitations will be decided by the court in due course. However, if freedom of expression is left unfettered, it is certain to be abused. Nevertheless, any restriction on a right prescribed by law must be respected by the courts to enable a person know in advance what not to do and the consequences of such disobedience. Were law to confer unfettered exercise of the right of expression, such right would be subject to serial abuse, which may result in societal anarchy. Laws ought to create a sense of responsibility on the part of citizens, government officials and law enforcement officials to enable them to know how to regulate their conduct. The supervisory functions of the courts in this regard oblige them to pay utmost attention to the principles applicable

not only to dissemination of ideas and information that are favourably received or regarded as inoffensive but also to those that are considered offensive or detrimental to the peace and order of the state. Unfettered expression of ideas may cause serious harm, hatred or contempt or excite public disaffection or incite or instigate violence or threats within or against the state. It is constitutional to discuss any grievance within the polity and criticize government policies so long as such criticism is within the limits of freedom of expression. Loose expression of views that are more particularly followed by untoward acts targeted at the volatility of a nation tend to cause general disaffection and affect the public peace and public safety. A responsible government does not have to wait until such action has found sufficient grounding before it can take steps to curtail it especially in these days of unfettered, anti-social manipulation of social media. Any government that delays action against the mismanagement of public space in an attempt to allow freedom of expression does so at its own peril. That is why it is provided in S. 39 (3) and S. 45 (1) of the Constitution that the provi-

sions of S. 39 would not invalidate any law that is reasonably justifiable in a democratic society. Nothing in sections 37, 38, 39, 40 and 41 of the Constitution shall invalidate any law that is reasonably justifiable in a democratic society in the interest of defense, public safety, public order, public morality or public health; or for the purpose of protecting the rights and freedom or other persons. It is instructive that the Abuja court held that since the charges of terrorism had already been filed against Sowore, he must deposit his international passport and other travel documents to the court to guarantee his availability for trial, an indication of the risks to national security and evasion of justice. Yet it went ahead to hand him over to his lawyer! This recalls the Nnamdi Kanu bail episode and the granting of medical leave to IMN Leader Ibrahim Elzakzak when the courts caved into undue pressure to grant supposedly justified bail only to end up in fiascos. The judiciary should not play to the gallery of media hype and other populist posturing in considering cases involving national security issues. National interest should not be trivialized. Rufus wrote from Warri

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EDITORIAL BETWEEN CBN AND BVN DEFAULTERS The BVN is a tool to fight economic and financial crimes in the country

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ith about 38.5 million bank accounts already linked to the Bank Verification Number (BVN), according to the Nigerian Interbank Settlement Scheme (NISS), a lot has been achieved in a bid to curb illegal banking transactions in the country in addition to reducing incidence of corruption. But much still needs to be done against the background that this represents just 31 per cent of the total number of bank accounts, and 53 per cent of the total number of active bank accounts in the country. Data from the NISS reveal that the total number of bank accounts as of June this year was 122.37 million while the number of active bank accounts was 72.97 million. The Central Bank of Nigeria (CBN) had in 2014 introduced the BVN policy to all commercial deposit banks across the WHY ARE SOME PEOPLE country essentially to WITH GENUINE CLAIMS check identity theft in TO THE MONEY IN THEIR the banking system. BANK ACCOUNTS AFRAID It was also designed TO PUT THEIR BIOMETRICS to address issues of money laundering, TO SUCH ACCOUNTS? aiding credit extension and boosting financial inclusion since those who cannot read or write can open and access their bank accounts with their biometric information. The policy involves capturing customers’ biometric data for financial transactions across all banking platforms. The BVN is a unique identification number for customers of banks in Nigeria. It is linked to the biometric details of customers including their fingerprints and facial images. Even though many have raised concerns about the intention, we consider the introduction of the BVN as one of the smartest ways to fight economic and financial crimes in the country and we encourage the CBN to work towards removing the legal and institutional hurdles that hamper full compliance by all

Letters to the Editor

the banks operating in the country. But the pertinent question remains: Why are some people with genuine claims to the money in their bank accounts afraid to put their biometrics to such accounts? Honest bank depositors should not shy from having the security numbers that ordinarily help to protect their funds. It is only depositors who have things to hide that would refuse BVN.

M 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

eanwhile, that CBN is planning to introduce a new mechanism called the Global Standing Instruction (GSI) which will work with the BVN of depositors to detect bad borrowers, is commendable. In a milieu where many prominent citizens have perfected the art of living off other people’s money, hopping from banks to banks to secure loans they don’t intend to pay back, the GIS will help the banks to avoid serial borrowers. The impact of taking money from banks and not paying back is felt by the larger society with serious implications for the economy. In a communique after its monetary policy committee (MPC) meeting last week, the CBN said the GSI initiative is aimed at “de-risking credit in the industry by committing bank customers to repay their loans to banks”. The MPC further noted “the increased supply of micro credit to key micro small and medium enterprises (MSMEs) and efforts through the Nigeria incentive-based risk sharing system for agricultural lending (NIRSAL) microfinance bank to extend the reach of its credit facilities across the country.” Unfortunately, there are reports that some security agencies are already tampering with some accounts that have no BVN by making illegal withdrawals. This is a serious issue that goes to the heart of the anti-corruption war of the current administration and we hope President Muhammadu Buhari will order an investigation of the allegation and deal with culprits. However, we endorse whatever legal action the federal government may take on all accounts that have no BVN. Five years is long enough for anyone to comply with the policy which essentially is meant to curb fraudulent activities in the financial system.

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.

AT 59, NIGERIA STILL GROPES IN THE DARK

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he Lugardian contraption called Nigeria has come of age. It was in 1914 that the Southern and Northern protectorates were amalgamated, and the geographical space was called Nigeria. During the colonial era, Nigerians who acquired Western education became politically conscious. So, in 1922, the first political party in Nigeria was formed following the adoption of the Clifford’s constitution. Then, Nigerians were elected into the Lagos and Calabar legislative councils. Educated Nigerians started agitating for the political emancipation of Nigeria. Dr Nnamdi Azikiwe, a political ideologue and an alumnus of Lincoln University, America led the charge for the decolonization of Nigeria. Chief Anthony Enahoro, who moved the motion for Nigeria’s independence; Nwafor Orizu, one-time senate leader; Chief Obafemi Awolowo, a former premier of Western region and UPN national leader; Alhaji Tafawa Balewa, who became our Prime Minister in 1960, and others fought relentlessly for Nigeria’s attainment of political sovereignty and freedom. Upon our attainment of statehood and political sovereignty in 1960, the departing British colonialists, who were amenable to the northern people’s political domination of Nigeria helped Alhaji Tafawa Balewa to become the Prime Minister of Nigeria in 1960. He overcame his political betters like Nnamdi Azikiwe and Obafemi Awolowo to become our prime minister. The British imperialists had clandestinely enthroned the northerners’ political hegemony and dominance of Nigeria in order to achieve their selfish and sinister goals. It’s they who institutionalized the perverse and monstrous culture of imposition of political leaders on Nigerians, which has led to the emergence of mediocre political leaders

in the country. That’s why after the collapse of the first republic and the end of the Nigeria-Biafra civil war, a political dark horse called Alhaji Shehu Shagari beat Nnamdi Azikiwe, Obafemi Awolowo, Aminu Kano, and Ibrahim Waziri in the 1979 presidential election. And Chief Olusegun Obasanjo was helped to power in 1999 by the king-makers and northern interests to placate the indignant Yoruba people over the annulled June 12, 1993 presidential election. Again, Alhaji Umaru Musa Yar’Adua, who won the 2007 presidential election, confessed that the election which brought him to office was marred by electoral fraud. We should note that Alhaji Tafawa Balewa, Chief Olusegun Obasanjo, Alhaji Shehu Shagari, and Alhaji Umaru Musa Yar’Adua, who were beneficiaries of Nigeria’s egregious culture of imposition of leaders on the populace, squandered the opportunities offered to them to transform Nigeria positively. And they couldn’t entrench enduring peace and unity in Nigeria, which is the bedrock of national development. Today, Nigeria is stuck in the mud of underdevelopment because it hasn’t been led by its best politicians since it became a politically independent. However, a country’s development is intrinsically linked to the quality of leadership provided to the citizens by its national leader. The economies of Malaysia, Singapore and other great Asian countries had been leapfrogged to a dizzying height because their leaders possess political ideologies, moral probity, and leadership qualities. A good political leader, who is a visionary, imagines the type of country he wants, and works assiduously to build that country. So, during President Muhammadu Buhari’s first coming or incarnation as our civilian President, millions of Nigerians thought him to be the Messiah who would revamp our economy, evolve our own

technological culture, which will be predicated on functional educational system and entrench peace and unity in the country. And not a few Nigerians felt that his leadership of Nigeria would be a departure from Dr Goodluck Jonathan’s uninspiring, and corrupt administration. We believed him to be the political leader who would root out corruption in Nigeria and bring sanity to our systems of doing things given his ascetic nature and distaste for corruption. However, President Buhari’s occupation of the highest political office in Nigeria has led to his demystification. Under his watch and guidance, Nigeria is steadily and progressively going to the dogs. In his first term in office, Nigeria’s economy slipped into recession. It came out of it soon after, however. Nigeria, as a country, which has oil resources and humongous population, has not witnessed rapid economic progress and technological transformation under the leadership of President Buhari. Today, owing to the mismanagement of our economy, millions of Nigerians have been reduced to sub-humans. The worsening economic situation in the country has made millions of Nigerians become vulnerable to joining terrorist groups like the Boko Haram and others. The impressionable young northern people who joined Boko Haram had been indoctrinated with distorted teachings of Islam which fire them up to levy war against the Nigerian state. Aren’t we aware that the unresolved Boko Haram incubus poses a great threat to our continued existence as one indivisible country? In addition to this, the Fulani cattle herders, who are classified as a deadly terror group should be checked; otherwise, their murderous deeds will plunge Nigeria into a huge conflagration. Chiedu Uche Okoye, Uruowulu-Obosi, Anambra State

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T H I S D AY Ëž MONDAY Ëž SEPTEMBER 30, 2019

Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

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

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

Return to Reign of Impunity

Alex Enumah writes that the increasing propensity of the Federal Government to disregard court order has enthroned a reign of impunity

Buhari

Mohammed

Buratai

Adamu

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of citizens in the country. There is no gainsaying the fact that the current administration of President Muhammadu Buhari has an unenviable human rights record reminiscent of the dark days of the military in Nigeria. According to an Amnesty International report released last year, a lot of people are said to be held in secret detention facilities, without an order of court, while few others are been kept in flagrant disobedience of court orders.

The government’s action on September 26 prompted the issuance of Form 48, a process seeking the committal to prison of the Director General of the SSS for refusing to obey the valid order of court. It is not yet clear what the court will do to the SSS DG if Sowore is not released as ordered by the court

Besides the incarceration of Nigerians, businesses and properties of citizens have been seized or locked down by the Buhari administration without recourse to the law or disregard to valid court order. A case that readily comes to mind is the refusal of the Nigeria Police to unseal the head office of the Peace Corps of Nigeria (PCN) as ordered by the Abuja division of the Federal High Court last year. Notable Nigerians that are being held by the federal government in total disregard to the rule of law or disobedience to orders of court, include former National security Adviser, Col. Sambo Dasuki (rtd.), leader of the Islamic Movement of Nigeria (IMN), Sheik Ibrahim El-Zakzaky and presidential candidate of the African Action Congress (AAC), Omoyele Sowore, just to mention a few. Sowore, Convener of #RevolutionNow Protest, was picked up in a Lagos hotel by men of the security services on Saturday, August 3 for what the DSS described as ‘crossing the line’. Before his arrest, the activist and publisher of SaharaReporters, an online news portal had threatened to call out Nigerians to join him and his group to push out the Buhari administration over alleged corruption and ineptitude. Sowore was also of the view that the election that brought Buhari to power for a second term was not credible. Though he had slated Monday, August 5, 2019 for the mass protest nationwide, but before he could do anything he was whisked away by security agencies. Within few days of his arrest, the state security service secured an order of court to keep

him for 40 days pending the conclusion of investigation bordering on treasonable felony and terrorism, as he was accused of planning to remove President Buhari through unconstitutional means. The court in granting the order to the SSS to keep Sowore for the said number of days, held that 45 days would be sufficient for the agency to conclude its investigation. While Justice Taiwo Taiwo, who granted the order, was magnanimous to assure that the detention order, could be extended at request, he warned that Sowore must not be kept beyond the first 45 days approved without the order of the court. The order made on August 8, 2019 expired on September 21, 2019 and without a fresh request for its extension, Justice Taiwo on September 24, accordingly ordered the immediate release of Sowore from detention. He said Sowore should be handed to his lawyer, Femi Falana (SAN), after Sowore must have deposited his international passport with the registrar of the court. However, days after the condition as stipulated by the court was met, the government has refused to obey the valid order of the court. Worse is the fact that the agency is denying being aware of the order of court, as well as, denying that it has been served with such order. The government’s action on September 26 prompted the issuance of Form 48, a process seeking the committal to prison of the Director General of the SSS for refusing to obey the valid order of court. It is not yet clear what the court will do to the SSS DG if Sowore was not released as ordered by the court. Over the years, no punishment includ-

r#VTJOFTTFT BOE QSPQFSUJFT PG DJUJ[FOT have been seized or locked down by the Buhari administration without recourse to the law or disregard to valid court oorder r" DBTF UIBU SFBEJMZ DPNFT UP NJOE is the refusal of the Nigeria Police to unseal the head office of the Peace Corps of Nigeria (PCN) as ordered by the Abuja division of the Federal High Court last year r"OPUIFS FYBNQMF PG CMBUBOU EJTSFgard for the judiciary was exhibited by the Nigerian Navy, with the illegal arrest and unlawful detention of 22 Nigerians by the Navy r/PUBCMF /JHFSJBOT UIBU BSF CFJOH held by the federal government in total disregard to the rule of law or disobedience to orders of court, include former National security Adviser, Col. Sambo Dasuki (rtd.), leader of the Islamic Movement of Nigeria (IMN), Sheik

Ibrahim El-Zakzaky and presidential candidate of the African Action Congress (AAC), Omoyele Sowore, just to mention a few r8JUIJO GFX EBZT PG IJT BSSFTU UIF state security service secured an order of court to keep Sowore for 40 days pending the conclusion of investigation bordering on treasonable felony and terrorism, as he was accused of planning to remove President Buhari through unconstitutional means *The order made on August 8, 2019 expired on September 21, 2019 and without a fresh request for its extension, Justice Taiwo on September 24, accordingly ordered the immediate release of Sowore from detention. He said Sowore should be handed to his lawyer, Femi Falana (SAN), after Sowore must have deposited his international passport with the registrar of the court. r)PXFWFS EBZT BGUFS UIF DPOEJUJPO

t was the beginning of another legal year at the Supreme Court and the Chief Justice of Nigeria, Ibrahim Tanko Muhammad without mincing words hammered home the message that it was time for government and their agencies in the country to observe the rule of law and obey judgment delivered by courts in the country. He warned that the court would no longer tolerate such untoward actions which has ridiculed the nation in the comity of nations. “The judiciary under my watch will strongly uphold the tenets of the constitution as the supreme law of the land. “The rule of law which is the bastion of democracy across the world will be strictly observed in our dealings and we must impress it on governments at all levels to actively toe that path,� he said. The CJN in assuring that the right of every citizen against any form of oppression and impunity would be jealously protected with the legal tools at their disposal, stressed that, “All binding court orders must be obeyed; nobody, irrespective of his or her position, will be allowed to toy with court judgments,� adding that everyone must collectively show the desired commitment to the full enthronement of the rule of law in the land. His reason was simple: flagrant disobedience of court orders or non-compliance with judicial orders is a direct invitation to anarchy in the society. Reading the mind of the CJN, one can readily come to the conclusion that the leadership of the judiciary, the third arm of government is gradually waking up to its responsibility of guaranteeing the rights

QUICK FACTS: r5IF $IJFG +VTUJDF PG /JHFSJB +VTUJDF Ibrahim Tanko Muhammad recently tasked governments at all levels and their agencies as the beginning of another legal year at the Supreme Court and the Chief Justice of Nigeria, Ibrahim Tanko Muhammad recently tasked government and their agencies at all levels to observe the rule of law and obey judgment delivered by courts. r1SFTJEFOU .VIBNNBEV #VIBSJ IBT an unenviable human rights record reminiscent of the dark days of the military in Nigeria r"DDPSEJOH UP BO "NOFTUZ *OUFSOBtional report released last year, a lot of people are said to be held in secret detention facilities, without an order of court, while few others are been kept in flagrant disobedience of court orders

as stipulated by the court was met, the government has refused to obey the valid order of the court. Worse is the fact that the agency is denying being aware of the order of court, as well as, denying that it has been served with such order r5IF HPWFSONFOU T BDUJPO PO 4FQUFNber 26 prompted the issuance of Form 48, a process seeking the committal to prison of the Director General of the SSS for refusing to obey the valid order of court r*O TQJUF PG OVNFSPVT DPVSU PSEFST for the release of Col. Sambo Dasuki (rtd.), the former NSA has remained in custody of the federal government r4IJJUF MFBEFS *CSBIJN &M ;B[[BLZ along with his wife have been in custody of the Federal Government since 2015 when they were arrested over the clash between the sect and a convoy of the Chief of Army Staff, Major General Tukur Yusuf Buraitai in Zaria, Kaduna State.

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MONDAY DISCOURSE

El-Zakzaky

Dasuki

Sowore

Malami

ing imprisonment has been meted out to government officials who have disobeyed valid court orders. For example, in spite of numerous court orders for the release of Sambo Dasuki, the former NSA has remained in custody of the federal government. Since 2015, when he was arraigned before different high courts, he has been granted bail, first by Justice Adeniyi Ademola and Justice Ahmed Ramat Mohammed, both of the Federal High Court, Abuja, as well as Justice Peter Affen and Justice Hussein Baba-Yusuf of the Federal Capital Territory (FCT) High Court. The ECOWAS Court had also in a judgment in 2017 ordered the Federal Government to release him immediately from the unlawful custody and imposed a fine of N15 million on the government but up till now all the bail orders have not been obeyed. The development forced the former NSA to boycott his further trial by the Federal Government until the government obeys the orders of the various courts regarding his bail. In a letter to the court registrar dated November 12, 2018 and titled, ‘Unabated Persecution of Mohammed Sambo (rtd) by the Federal Government of Nigeria’, Dasuki asked the court to: “absolve him of any obligation of appearing at his trial, since the office of the State Security Service, an agent of government detaining him has also refused to respect the various court order for his bail.” The former NSA stated that he was granted bail on different occasions by various courts in all the charges he is standing trial but the Federal Government had refused to obey the orders. According to Dasuki, he was re-arrested at Kuje Prison in Abuja on December 29, 2015, shortly after he perfected his bail in respect of the three sets of charges filed against him before different judges and since then he remains in custody of the SSS from where he attends his trial. Closely related to the case of the former NSA is that of the Shiite leader, Ibrahim El-Zazzaky. Like Dasuki, the Shiite leader along with his wife have been in custody of the Federal Government since 2015 when they were arrested over the clash between the sect and a convoy of the Chief of Army Staff, Major General Tukur Yusuf Buraitai in Zaria, Kaduna State. While hundreds of followers of the IMN lost their lives during the clash in 2015, double of that figure if not more have died within the last one year following escalation of crisis occasioned by the refusal of the government to obey an order of court which had ordered the release of El-Zakzaky and his wife. It should be noted that the continued protests by the Shiites daily on the streets of Abuja resulted in several clashes between the sect and security agents wherein several persons lost their lives including a serving youth corp member and a police commissioner. The clashes eventually led to the ban of the Shiites few months ago. Justice Gabriel Kolawole of the Abuja Division of the Federal High Court had on December 2, 2016 in a judgment on fundamental human right ordered the unconditional release of El Zakzaky who has been in custody since December 14, 2015. The judge apart from ordering the federal government to release El-Zakzaky

within 45 days of the judgment also awarded N25 million damages each in favour of El-Zakzaky and his wife. The judge also ordered the government to build a decent accommodation that the applicant and his family would settle into at the expiration of the 45 days to their release. The accommodation, the court held, should be anywhere in Kaduna or within the North where the IMN has their abode. Outside the judgment, Justice Kolawole warned that the continued detention of Elzakzaky if not properly managed, would further harm the battered image of the country in the international community. He also warned that the government is running a greater risk in keeping the Islamic leader in custody against his will, adding that if anything should happen to him in detention the effect would be catastrophic, just like the result of the death of late leader of the Boko Haram, Mohammed Yusuf. The court in its judgment held that the government acted in gross violation of the constitution by detaining the Shiite leader and his wife without approval of court, adding that the excuse that they are being held under protective custody is untenable. Similarly, critical stakeholders in the judiciary as well as the polity came very hard on the government when it later came out to say both Dasuki and El-zakzaky were being held in the interest of the country. President Buhari had last year, while declaring open the 58 Annual General Conference of the Nigerian Bar Association (NBA), said that, “Rule of Law must be subject to the supremacy of the nation’s security and national interest,” adding that,

“where national security and public interest are threatened or there is a likelihood of their being threatened, the individual rights of those allegedly responsible must take second place, in favour of the greater good of society.” Reacting to Buhari’s submission then, some eminent lawyers among whom are Olisa Agbakoba, A.C. Okocha both former President of the NBA and Chief Mike Ozekhome all Senior Advocates of Nigeria (SAN) did not spare the president in their individual responses. They argued that there cannot be national interest or security in a place where there is no rule of law, as the rule of law is the mother of national interest and security. Agbakoba, who said President Buhari’s statement, “Fundamentally ends democracy”, noted that the President can declare a state of emergency or even postpone elections in the country if and when he feels the security of the country has been threatened. “It is one of the most dangerous statements that has been made since the return of democracy in 1999,” he said and called on the media, NBA and other civil society organizations to challenge the president. On his part, Okocha, insisted that the executive cannot hide under the disguise of fighting corruption or national security and subsume the rule of law. “All battles against corruption, national security must be fought within the ambit of the rule of law,” he said stressing that no individual can be so powerful to stand up against the state and the security agencies. Referring to detained former National Security Adviser Col. Sambo Dasuki (rtd.) and Shiite leader, Ibrahim Elzakzaki, the former NBA President submitted that the executive cannot continue to disobey a court order for their release on bail. He said if the government must keep them for any reason; it must be by the order of court of competent jurisdiction. Similarly, senior lawyer and rights activist, Mike Ozekhome, insisted that any attempt to subject rule of law to national interest or security is an invitation to anarchy. “Once you subvert the rule of law, then the rule of thumb takes place,” he said. Ozekhome said the President’s position was wrong as it was aimed at justifying his administration’s blatant refusal to obey orders of court particularly on Dasuki and Elzakzaki. While he noted that Dasuki is being tried in relation to alleged diversion of government funds to the tune of N2.1billion, Ozekhome, however, submitted that one of the heights of corruption is the disregard and disobedience of the rule of law and the constitution by those who swore on oath to uphold it. “It is the height of corruption for the President who has taken the oath of office to willfully violate his oath of office and the provision of the constitution when the constitution provides that any law that is at variance with the constitution shall be null and void,” he said. In his reaction to the government’s refusal to obey valid court orders, Justice John Tsoho had last year discharged the National Commandant of the Peace Corps, Dickson Akoh, of all 13-count charges bordering on extortion and money laundering filed against him by the government. The Nigeria Police had, in March 2017,

slammed Akoh with a 90-count charge but later amended it to 13-count charge, after it was observed that most of the charges were repetitive. But in reaction to the suit, counsel to the defendant, John Ochogwu had argued that the Police authorities lacked moral justification to prosecute Akoh in the criminal matter, until the Police Boss obeys subsisting court orders emanating from the suit. Justice Tsoho in his ruling berated the Police boss for disobeying “orders of court of competent jurisdiction,” adding that, “The act of the complainant/respondent is a flagrant abuse of the fundamental rights of the defendant/applicant.” The judge asked Akoh to go home, until when the Police and the IGP are ready to obey court orders and unseal Peace Corps office. “Justice is not for one party, justice is a multi-edge sword. This court is mindful of Ochogwu’s written address, where he stated that, according to section 36(6b) of the 1999 constitution, that a defendant is entitled to adequate time and facilities to defend himself. “If the complainant wishes to continue with the matter, he should be ready to obey court orders. No person or institution should be seen to be above the law. “This case will continue when concrete evidences are shown that the complainant has obeyed subsisting court judgements. Also, Justice John Tsoho in a separate suit, delivered judgement on 15th January, 2018, that the National Headquarters of Peace Corps be unsealed. Earlier, Justice Gabriel Kolawole, then of the Federal High Court, had in November 2017, also ordered the Police to unseal the facilities of Peace Corps of Nigeria, while awarding N12.5 million damages against the Police. However, none of the judgements was obeyed and no valid stay of execution was obtained by the Police. Another example of blatant disregard for the judiciary was exhibited by the Nigerian Navy. The Centre Against Impunity, a civil society group, brought to knowledge of the larger public, the illegal arrest and unlawful detention of 22 Nigerians by the Nigerian Navy. Comrade Shina Loremikan, head of the organisation said 22 people were sacked, arrested and detained illegally by the navy. He said after the dismissal of one Captain Labinjo and Lt Commander Ibe Lambert and the 20 others, the armed forces was ordered by a federal high court and the Supreme Court to reinstate them, but the order has not been obeyed in the instance. However, the naval authorities have refused to obey the court orders. “The Nigerian Navy rather than comply with the said order of release surreptitiously removed all the detainees to an unknown location,” Loremikan said. The names of the detainees are Captain D.O Labinjo, Lt. Commander Sherifat Ibe Lambert, Segun Yusuf, Benjamin Gold, Petter Pulle, Pius Paul, Onoja Reuben, Adeleke Adewale, Labinjo Kehinde, Ogunmoyero Oluwaseun, Emmanuel Oputa, and Innocent Sunday, Lejoro Friday. Others are Hamza Yakubu, Master Melvin Jack, Chief Mate Adebayo Mayowa, Chief Mate Francis Onyema, Engr Godwill Umoh, Bosin Miebaka Iyala, Edu Fidelis, Richard David, and Daniel Harrison.

The administration of President Muhammadu Buhari has an unenviable human rights record reminiscent of the dark days of the military in Nigeria. According to an Amnesty International report released last year, a lot of people are said to be held in secret detention facilities, without an order of court, while few others are been kept in flagrant disobedience of court orders

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FEATURES

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 08152252325

Testimonial of Development in Rivers While achievements are hardly recorded in favour of many governors in their second term in office, the same cannot be said of Governor Nyesom Wike of Rivers State going by what he showcased in his 100 days in office, writes Davidson Iriekpen

L

ike his first four years office, the people of Rivers State have been rolling out drums lately to celebrate their governor, Nyesom Wike, on his performace in his first 100 days in office. Coming at a time when they thought that he would slow down in his second term, they are not in any way disappointed with performance. In his first four years in office, the governor embarked on and completed over 50 critical roads and sundry projects in the state, thereby reducing the suffering of his people. While this has not only earned him the nickname “Mr. Projects,� it has boosted him. For some of his critics who thought that in his second term, the governor would slow down on his performance, they were disappointed when they saw the governor ’s list of projects to be inaugurated during his first 100 days in office. These projects which are simply aimed at alleviating the suffering of the people, include the Port Harcourt Pleasure Park Cinema, RumuokwurusiElelenwo-Akpajo Road, Real Madrid Football Academy, Rumuwoji (Mile 1) Market, Fruit Garden Market, Nigerian Labour Congress House, and Dualised Birabi Street Road, among others. Coming at a time most of his colleagues are either struggling to come to terms with governance or complaining of dwindling revenue, Wike seems undaunted as he keeps churning out new projects and completing others abandoned by the immediate past administration. As part of his key projects for his second term, the governor has promised not to disappoint residents of the state is on his fight against insecurity. Recently, he launched “Operation Sting�, the state’s security outfit to secure lives and property. Also, he has equipped security agencies to fight crime. The equipment included 76 patrol/operational vehicles fitted with communication gadgets; eight armoured fitted gunboats to tighten coastal security and protect the waterways from the activities of criminals; two armoured personnel carriers for police swift response actions; 450 hand-held mobile radios to enhance communication among the security operatives and overcome the current wide gaps in intelligence gathering. As part of efforts to alleviate the suffering residents of the state go through on a daily basis, Wike during the inauguration of three roads, Bonny Street, AdakaBoro/ Elliot Henry Streets recently, promised that he would construct three major flyover bridges in the state within 16 months. He said the proposed flyover bridges are to be located at Garrison, Artillery and Rumuokoro in Port Harcourt and Obio/Akpor Local Government Areas. "We will soon flag off the construction of three flyover bridges in Port Harcourt and Obio/Akpor Local Government Areas. These three flyover bridges would be constructed simultaneously and we shall deliver them in 16months. We will remain committed to the delivery projects for our people," he said. In his first four years in office, the governor embarked on and completed over 50 critical roads and sundry projects in the state, thereby reducing the suffering of his people. This earned him the nickname Mr. Projects. As a demonstration of his love for his people, Wike does not care if the road projects are federal or not. He also does not care if the area is ‘opposition’ area or not. It was based on his performance that the people of the state put their lives at risk to ensure that he was relected

Wike and other dignitaries during the inauguration three roads, Bonny Street, AdakaBoro/Elliot Henry Streets as part of the activities to mark his ďŹ rst 100 days in oďŹƒce

Newly constructed Rumukwurusi-Elelenwo-Akpajo Road in the most turbulent election ever to take place in the Nigeria. Also, Wike has turned his attention to the education sector where massive renovation of primary, secondary and tertiary schools are ongoing and some

For some his critics who thought that in his second, the governor would slow down on his performance, they were disappointed when they saw the governor’s list of projects to be inaugurated during his ďŹ rst 100 days in ofďŹ ce

completed. Recently, he announced the abolition of all forms of fees and levies in state-owned primary and secondary schools and warned heads of schools to stop collecting fees and levies from students and pupils with immediate effect. To demonstrate his commitment to this directive, the governor has released funds for the running of the schools for the 2019/2020 academic session. The funds are to be used by the schools for registers, chalks, dusters, markers, notebooks, pens and other consumables. He also released funds for the supervision of schools for the entire 2019/2020 academic session and six Toyota Hilux vans for school supervision. He also abolished fees for examinations such as the West African Examinations Council (WAEC) and National Examinations Council (NECO) and assured parents that his administration would remain committed to the provision of quality education, which is accessible to the less privileged. The governor equally directed the state Ministry of Education, the Senior Secondary Schools Board and Universal Basic Education Board to monitor all public schools across the state to ensure compliance. He said: "Henceforth, no child either in

primary and secondary schools should pay fees and levies in any school across the state. The monies you collect from these children are just used for your personal purposes. If I hear that any school head collects any fees or levies, be they examination, NECO or WAEC fees, that school head would be sanctioned. "We shall not only dismiss the school head who collects fees or levies, we will prosecute the person involved. Government will work out grants that will be sent to the schools for their regular management and operations.� While the governor is known as Mr. Projects, there is an aspect of his performance that is not as pronounced, which, according to people in the state, is his commitment to workers’ welfare. He took over the reins of leadership at a time the morale of the state civil servants was at its lowest level. The past All Progressives Congress (APC) administration in the state owed the workers for four months. Even pensioners were owed months of arrears. But as soon has the governor mounted the saddle, he cleared the arrears and had since placed workers welfare on his top priority list. He said he had opened a line for dialogue and settlement of disputes that arise in the course of government-workers

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FEATURES relationship. The to demonstrate his love for the state workers, penultimate week, the governor inaugurated the ultra-modern secretariat of the Nigeria Labour Congress (NLC) built by his administration. The former NLC secretariat was gutted by fire in 2015 and since then, the state NLC had operated from makeshift facilities. So is the Trade Union Secretariat which is also most completed. During the inauguration, Wike said the state government embarked on the construction of the two secretariats to foster the cordial working relationship with workers in the state. "We have worked harmoniously with labour. They have not troubled this administration with unnecessary strikes. In order to build stability, we have set up a structure that will enhance the performance of labour,� he said. In order to promote professional football in the state and the country in general, Wike penultimate week unveiled the ultra-modern Real Madrid Football Academy in Port Harcourt. The complex boasts of modern equipment and all the necessary facilities needed to encourage and aid young talents to stardom. The academy which has hostels, would also boast of a secondary school for the two to go hand-inhand, according to the state government, would be tuition-free for Rivers indigenes. At the unveiling of the facility in Port Harcourt, Governor Seyi Makinde of Oyo State not only lauded the Wike for the project, but commended him for the idea behind it. "There have always been great football talents from Rivers State. Great players like Taribo West, George Finidi and Joseph Yobo. This project will create more stars. This project will allow the early discovery and harnessing of football talents in Rivers. This project will create more stars,� he said. Wike also embarked on a mission to return Port Harcourt to its Garden City status. This has pitted many residents against the government as a task force has been set up to rid the state capital of illegal trading, unauthorised motor parks and also enforce sanitation laws. While these efforts have enhanced the beauty of the city, many residents complain of harsh treatment from the task force, which has been infiltrated by hoodlums and fake officials that now fleece residents of their possessions. Already, commendations have been pouring from some of the personalities who seen what Wike is doing in his state. One of such is the Chairman of the Nigeria Governors’ Forum and Ekiti State Governor, Dr. Kayode Fayemi who on his visit to Port Harcourt recently, declared that the frequency with which Wike churns out quality projects justifies his world acclaimed name, "Mr Projects". Fayemi said though he is not in the same political party with Wike, his duty as chairman of Nigeria Governors Forum is to support, protect

His wife, Justice Suzzette Eberechi, had once testiďŹ ed to his passion when she told the people of the state that she was conďŹ dent that her husband, based on his antecedence and passion to satisfy others, would never stop his positive developmental strides

Seabed Model Primary School, Port Harcourt

Wike and his deputy, Mrs. Ipalibo Harry Banigo during the inauguration of Craft Development Centre in Port Harcourt

New Civil Servants Quarters and defend all governors irrespective of their party affiliations. He said: "We are proud of him (Governor Wike). We are proud of the work he is doing in Rivers State. He is going to continue to commission projects till September 27. That is almost 10days from now. Even if it is one project per day, it will be almost 10days. Now I understand why they refer to him as Mr. Project. "The promise that the governor made

Rivers NLC Secretariat is what he is fulfilling today. That is what government is all about. Government is about affecting the lives of our people. Governance is about improving the quality and condition of our society. Governance is about ensuring that we fulfill promises that we make to the people�. To many who have been following the governor ’s performance, it is not a surprise that Wike is determined to transform the state. His wife, Justice

Suzzette Eberechi, had once testified to his passion when she told the people of the state that she was confident that her husband, based on his antecedence and passion to satisfy others, would never stop his positive developmental strides. She said: “I know the man I am married to. He is a determined and focused man. He will continue to deliver in line with the promises he made to the people. I know he will live up to the expectations of the people.�

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MONDAY SEPTEMBER 30, 2019 • T H I S D AY

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T H I S D AY Ëž Ëœ ÍąÍŽËœ 2019

BUSINESSWORLD R A T E S MONEY MARKET OVERNIGHT OBB

A S

A T S E T E M B E R

REPO 9.29 8.23

CALL 1-MONTH 3-MONTH

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

5.50 7 8.50

Group Business Editor Obinna Chima

Email obinna.chima@thisdaylive.com 08152447875

2 7 , S & P INDEX 1/4 TO DATE

411.53% 0.05% 0.36%

YEAR TO DATE

2 0 1 9 2.81% 15.28%

EXCHANGE RATE N306.95/1US DOLLAR* ĚŠ

Quick Takes Stanbic IBTC Hosts Investor Conference

SUPPORTFOR ENTREPRENUERS

L-R: Executive Director, FATE Foundation, Adenike Adeyemi; Chairman FATE Foundation Annual Alumni Planning Committee, Toyin Bakare; Deputy Governor, Lagos State, Dr. Kadri Obafemi Hamzat and Keynote Speaker/CEO, SLOT Systems Limited, Nnamdi Ezeigbo at the 4th FATE Annual Alumni Conference held in Lagos‌recently

Report: Africa’s Digital Future Depends on 5G Spectrum Emma Okonji GSMA Association, the global body of telecoms operators has predicted in its latest report that innovative 5G services will generate as much as $5.2 billion of economic expansion, which is about 0.7 per cent of Gross Domestic Product (GDP) in sub-Saharan Africa by 2034. It, however, stressed that such huge opportunity for Africa’s digital economy would largely depend on the availability of necessary radio frequencies around 5G network, including those known as ‘millimetre wave’ frequencies that would deliver ultra-high capacity and ultra-high-speed services. The report, therefore raised the alarm that efforts by the European space industry to unreasonably constrain the use of

TELECOM these critical frequencies has 5G’s future hanging in the balance. Analysing the report, the Head of sub-Saharan Africa at GSMA, Mr. Akinwale Goodluck, said Africa must stand strong at the 2019 World Radiocommunication Conference (WRC-19) to protect its interest and secure its digital future. According to him, “5G will be an evolutionary step with a revolutionary impact, having a deeper effect on our lives than any previous mobile generation. “As mobile operators continue to expand 4G connections across the region, now is the time for African governments to lay the foundation for their 5G future by identifying the needed spectrum at WRC-19.�

The 5G mmWave spectrum is expected to be identified at an international treaty conference called the WRC-19, which would take place in Egypt, from 28 October to 22 November 2019, where 3000 delegates from over 190 nations will meet to agree on how spectrum may be used. According to the report, “European countries are determined to limit the use of this spectrum due to unfounded claims of potential interference with space services. Independent technical studies, supported by African countries and their allies in the Americas and the Middle East, have demonstrated that 5G can co-exist safely and efficiently alongside weathersensing services, commercial satellite services and others. “WRC-19 is the only opportunity for years to come for

countries across Africa to secure mmWave spectrum for future use, enabling the delivery of 5G services over the next decade.� According to Goodluck, “Africa understands the need to strike the right balance between different users of spectrum. That is why African governments have actively supported technical studies that demonstrate how 5G can operate in these frequencies without causing harm to other existing spectrum services, including weather-sensing services, in neighbouring spectrum bands.� Addressing the 5G opportunities for sub-Saharan Africa, the report stated: “In sub-Saharan Africa, the roll-out of mobile networks and services has allowed communities to leapfrog wired Continued on page 26

NDIC, Stakeholders Bemoan Constraints to Islamic Financing

Stanbic IBTC has just concluded the 10th edition of the Standard Bank West Africa Investors’ Conference (WAIC). The three-day event which held recently in Lagos was themed: “Prism of Possibilities.â€? The conference provides a platform for bringing together foreign and local institutional investors, fund managers, regulators and policy makers, bankers, businessmen and captains of industry among others, to engage and explore growth potentials and opportunities in Nigeria. Chief Executive of Stanbic IBTC Bank Plc, Dr. Demola Sogunle, said this year’s edition was geared towards deliberately showcasing investment potentialsinNigeria.Headded:“TheWestAfricaInvestors’Conferenceserves as a veritable platform to match investors to investment opportunities. The idea is to be able to showcase the potential investments inherent in Nigeria to individual and institutional investors, who are looking to invest in the dierent sectors in the Nigerian economy.â€? Thehighlightoftheopeningdayoftheconferencewasapaneldiscussion on advancing ďŹ ntech frontiers in Nigeria. According to Sogunle, this year’s edition of the conference dedicated its panel session to ďŹ ntechs due to their signiďŹ cant role in Nigerian economy. Headded:“TheNigerianďŹ nancialsystemasweknowitisbeingdisrupted with the introduction of innovative products and services. There is also the need for ďŹ ntechs to see potential areas of alignment with ďŹ nancial institutions. We hosted this panel session to create a platform for ďŹ ntechs to interact with serious minded frontier-market focused fund managers for possible areas of engagement. We also carefully chose the panelists based on their professionalism and years of expertise.

Mile 12 Market Rebranded

TheMile12internationalfoodmarket,haswitnessedaface-lifttoreect its position as centre for perishable agricultural produce in the sub-region of Economic Community of West Africa (ECOWAS). ThiswasdisclosedbytheChairman,Mile12internationalmarket,Usman Jibril, during an interview with journalists in Lagos, recently. Accordingtohim,“ThenewdevelopmentistogivethemarketanAfrican identiďŹ cation as countries like Benin Republic, Niger, Chad, Ethiopia, and Kenya and some do buy our goods here and take to Cameroon and other ECOWAS states. “Since the inception of the new market leadership, we have been able to achieved the following: unify all sections of the market irrespective of tribe or religion; cooperation with Lagos State Government; control the menace of traďŹƒc congestion and refuse management in the market; stopped the issues of street trading around the market; changed the face of the perimeter, and commenced the grading of Daramola/Fatoki street for easy ooading and accessibility by community people.â€? “Others include the control the excesses of drug abuse, smoking and other bad drug in the market,â€? he said. Goingforward,hesaidthemarketleadershipwascommittedtorebuilding all old structures in the market, into world class market. “We are able to get a big garage of our own that can contain about 100 T5 vehicles, we single-handedly did something that would help change the atmosphere of the market, without support from anybody, because we know what we should do.

AFFC Lauds Heritage Bank

The African Freestyle Football (AFFC) Championship 2019 in collaboration withWorld Freestyle Football Association (WFFA) have commended Heritage Bank Plc for its pivotal role in enhancing youth development and engendering the Nigeria’s entertainment space on the world’s stage. The 2019 African Freestyle Football Championship ended on a high note, with defending champion AbdulTiti Kone of Cote d’Ivoire emerging as African Champion once again. The event marked the second edition of the African Championship and the third annual edition of the Nigerian Championship hosted by Feet ‘n’ Tricks International Limited. This year’s edition accommodated at least 30 African countries that participated at the championship. The Chairman of AFFC, Valentine Ozigbo, who commended bank for being at the forefront of promoting freestyle football for the past two years, said Heritage Bank is “always very innovative and supportive to the cause of entertainment and youth development.

Non-interest assets Hit N186bn in June

r

James Emejo in Abuja The Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim, alongside stakeholders in the Islamic financing sub-sector have lamented the limited penetration and progress of non-interest financing in the country. Their concerns stemmed largely from emerging risks currently confronting Islamic banks as a result of underlying

ECONOMY structural economic weaknesses, inflationary trends and depreciating currencies. Speaking at the opening of the Sustainable Islamic Finance in Nigeria conference in Abuja, Ibrahim, noted that the developments were particularly worrisome as they could potentially destabilise liquidity, raise non-performing financing and erode capital. He added that foreign cur-

rency risks further posed a significant concern for regulators and Islamic banks, stressing that there exist structural challenges around liquidity management and legal accommodation in terms of existence and mechanisms for dispute resolution. This was just as the Managing Director/Chief Executive, Jaiz Bank Plc, Mallam Hassan Usman, also told THISDAY that the absence of instruments for Islamic banks to invest or manage their liquidity as well as

lack of a clear tax regime may have stifled the growth of the sector in recent years. However, quoting the Islamic Financial Services Board (IFSB) IFSB 2019 Stability Report, the NDIC boss said access to finance include; ignorance, lack of education, lack of trust, poverty, security challenges, high levels of informality in the economy and for Islamic banking- lack of awareness- all constitute issues Continued on page 26

“We have a youthful population, which we are saying is a great advantage but it is at the same time a huge time bomb that is ticking. And the global state of play is changing�

Founder/Chairman of Phillips Consulting

Mr. Foluso Phillips

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BUSINESSWORLD REPORT: AFRICA’S DIGITAL FUTURE DEPENDS ON 5G SPECTRUM infrastructure and embrace the information age much quicker and more cost effectively than in many developed countries. Building on earlier generations, 5G brings new capabilities for mobile networks to enable economic growth. 5G, coupled with mmWave spectrum, opens up the potential for low-latency, data-intensive applications that are expected to transform a wide variety of industries and use cases. “These will benefit new applications, helping the region’s transport logistics infrastructure (in-land transport hubs and seaports) and extractive industries (mining and hydrocarbon production), among others.� By enabling improvement to vital transport links in the economy, such as port logistics infrastructure, 5G is also expected to drive growth in the trade industry. Its application would also enable coordinated movement of goods and remote control of essential machinery, leading to more efficient port operations and lower costs, allowing for increased trade, the report further added. NDIC, STAKEHOLDERS BEMOAN CONSTRAINTS TO ISLAMIC FINANCING

that impede access to finance. However, he noted that since the introduction of non-interest banking in 2012, the country had witnessed the establishment of JAIZ bank, windows of Stanbic IBTC and Sterling and Islamic Micro-finance bank. But while he expressed regret over the closure of Stanbic IBTC Islamic banking window, he welcomed the recent establishment of TAJ Bank. To address inherent challenges, Ibrahim beckoned on investors to invest in the establishment of noninterest deposit money banks and non-interest microfinance banks to take care of the underserved segment of the population. In spite of the challenges highlighted, the NDIC MD disclosed that total assets of non-interest banks and windows grew modestly from N66.96 billion in 2015, to N186.46 billion as at June 30, 2019.

NEWS

Calabar Port Receives First Container Vessel Eromosele Abiodun The Calabar Port Complex, located in Cross Rivers State has received its maiden Marguisa Shipping Line’s container vessel, several years after its concession. The port has suffered patronage of container liners due to draft limitations on the channel. Currently, Calabar channel has a draft of 6.4 meters at high tide, but requires Nigeria Ports Authority (NPA) to complete the dredging to the advertised draft of 9.4 meters to attract regular and bigger tonnage. But the berthing of the MV Boreas in Calabar signified a milestone achieved through the strategic marketing of Ecomarine Terminals Limited, a terminal concessionaire in Calabar port. The vessel has length of 116.23 meters, Gross Tonnage of 6569 and Net Tonnage of 2874. Built in 2007, the vessel working for a Spain based Marguisa, came with both laden and empty containers and securely anchored at ECM Terminals at about 13.27 HRS. The General Manager, ECM, Diran Akorede, who confirmed this in a statement said, “The berthing of the container vessel at our facility recently was the crowning moment of the several marketing efforts to attract a liner service to Calabar over the years.� He acknowledged the partnership they have enjoyed with NPA over the years, especially the commitment of the Managing Director of NPA, Ms Hadiza Bala-Usman, who he noted from inception of her tenure has given priority attention to resolving some of the key challenges that have bedevilled the port.

He also emphasised the need for her to ensure the completion of the dredging. According to him, “In October last year, we had preliminary discussion with Marguisa representative on possibility of commencing calls to Calabar. To make the call viable to Marguisa, we made several concessions on rates and co-opted other stakeholders into the efforts followed with road shows to sensitise potential clients. The maiden call of the vessel was the outcome of such efforts spearheaded by Ecomarine in conjunction with Marguisa,� he stated.

Akorede said, in preparation for receipt of container vessel, the terminal has invested massively on container handling equipment from inception of the concession most of which have been idle ever since. “We are ISO certified and have well documented processes to ensure transparency and efficiency in our service delivery. “Our systems are fully automated and the facility is fully ISPS compliant. We also have paved stacking area that has remained unutilised over the years. “For us, we have been prepared from the inception and therefore

L-R: Non-Executive Director, eTranzact International Plc, Mr. Judedavid Mbamalu; Deputy Managing Director, Mr. Hakeem Adeniji-Adele; Managing Director/CEO, Niyi Toluwalope; Chairman, Mr. Wole Abegunde, and Company Secretary, Miss Oreoluwa Olukoju, at the company’s annual general meeting held in Lagos‌recently

BeTransparent,Yomi-EsanTells Perm Secs, Directors Olawale Ajimotokan and Udora Orizu in Abuja The Acting Head of Service of the Federation (HoS), Dr. Mrs Folasade Yomi-Esan, has charged permanent secretaries and directors in Ministries, Departments and Agencies (MDAs) to be prudent and accountable in the management of public funds. This, according to her, could be achieved through the establishment of stronger links between budgeting, planning and M & E for the completion of projects.

Chinedu Eze

Obinna Chima

Capital Market Editor

Goddy Egene

Comms/e-Business Editor

Emma Okonji

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

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

Nume Ekeghe (Money Market) Nosa Alekhuogie (ICT)

ECM manager therefore urged NPA to urgently complete the dredging of the channel to the advertised draft of 9.4m to ease the difficulty in attracting container vessel to the terminal. He also enjoined the ports authority to introduce a more effective incentive scheme such as the 30 per cent rebate hitherto in place before the concession. To further facilitate patronage and easy evacuation of cargoes, he said the government should ensure quick completion of the road contract from Odukpani Junction through Ikot Ekpene to Aba, already awarded to Julius Berger.

STOCK-TAKING

She made the appeal in a keynote address at an innovation conference themed: “Creating Opportunities by Leveraging Innovation for Effective Public Service Delivery and Diversification of the Economy.� The conference was organised for federal Permanent Secretaries and Director Generals/Chief Executive Officers of agencies and parastatals and heads of tertiary institutions. The acting HoS also announced the creation of a service innovation department to be headed by a Director and Service Innovation Units (SIUs)

in all MDAs. She noted that embarking on initiatives through the Project Management Team was to successfully build a robust foundation for innovation in the public service. In addition, she announced the launch of innovation competitions across the MDAs. According to her, at least one annual innovation challenge would be held to cultivate ideas and technologies, as well as for enhanced service delivery, efficiency and productivity in the public service. She stressed that the service would set in motion

Air Peace Begins Flights to Warri Group Business Editor

handled the discharge operations in the best professional manner. “As a port, our pact with Marguisa is to provide and ensure efficient service delivery, quick turnaround for their vessel and incentive scheme to support their voyage profitability. For us, the pact remains as long as the vessel continue to call our terminal,� he stated. According to him, ECM Terminal is ready to receive more container vessels with its ultra-modern cargo handling equipment. He said the Calabar Port has been plagued by the challenge of low draft due to dredging of the channel. The

Nigeria’s major carrier, Air Peace has started flight operations from Lagos to Warri, Delta State. The airline’s inaugural flight, which took off from the Murtala Muhammed Airport 2, Lagos at the weekend, touched down at the Osubi Airport, Warri at 11.15pm. The Embraer ERJ 145 aircraft piloted by Capt. Crosby Otobo and Senior First Officer Usman, were welcomed with a water guard salute by firefighters stationed at the airport. Air Peace Chief Executive Officer, Mr Allen Onyema, said the move by the airline to extend its operations to Warri was part of the its No City-Left-behind project. Onyema, who was

represented by the Manager, Ground Operations, Air Peace, Adeyemi Ayodeji, said Warri was the 16th city the airline would be flying into in Nigeria. “We want to assure our passengers that this is just the beginning. We have plans to introduce flights from Warri to Port Harcourt and also from Warri to Abuja, “ he said. Adeyemi, said the airline operates to five regional locations in West Africa (Ghana, Liberia, Sierra Leone, Gambia and Senegal) and had on July 5, 2019, began flight operations to Sharjah- Dubai in the United Arab Emirates. According to him, Mumbai in India and Guangzhou, China would soon come on board as part of the airline’s expansion

on the international routes with its fleet of B777 aircraft. He said the flight to Warri would be once daily and assured the Air Peace passengers of on-time departure and safety, which were very key to the airline’s operations. Receiving the airline’s officials were, the Chairman, Osubi Community, Paul Erugbenu and the Community Secretary, Comrade Williams Eyarunu who thanked Air Peace for extending their operations to the airport. Also, passengers onboard the inaugural flight who were given gifts various items by Air Peace to mark the inaugural flight, expressed delight with the development noting that it would make the route more competitive for the airlines thereby reducing airfares.

an innovation campaign to raise awareness on innovation, by creating an online innovation network to showcase existing innovations in the service to foster knowledge sharing. Yemi- Esan, described the public sector as the key driver of socio-economic development in the country that cannot afford to relegate its responsibility and must be alive and proactive in carrying out its functions for improved service delivery. The office of the Head of Service in collaboration with the Massachusetts Institute of Technology

(MIT), with the support of the Oil Producers Trade Section (OPTS), last week held a two-day training on “Radical Innovation,� for civil servants across the service to equip the participants with requisite skills and knowledge to drive innovation in the public sector. Also speaking at the event, the Vice Chairman, OPTS, Lorenzo Fiorillo, acknowledged the opportunity to support civil service in the provision of world class training programme, saying it would go a long way to support the civil service in achieving sustainable national development.

Lagos Restates Commitment to Food Hygiene Oluchi Chibuzor The Lagos State Government has reiterated its commitment to ensure that edible items transported across the state are done in hygienic manner. The Lagos State Commissioner for Agriculture, Mr. Gbolahan Lawal, made this known in statement signed by the Assistant Director, Public Affairs, Ministry of Agriculture, Lagos state Mr. Jide Lawal. The commissioner made the remark while receiving members of the Lagos State Perishable Goods Dealers and Sellers Association of Lagos State. Lawal, stated that the state

government was interested in forming a sustainable synergy with all stakeholders in the agricultural sector. “Government is committed towards fashioning out, along with members of the association, short and long term solutions to the inherent food transportation system in the state. “Government will look at how the sector can be overseen in order to ensure productivity of the market and promised to further engage with the association by scheduling another meeting in order to address at length issues and concerns raised during the visit,� he said.

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Ajaokuta: Group Seeks End to Steel Smuggling Chinedu Eze A non-governmental organisation, Social Integrity Network (SINET) has alleged that Nigeria has lost one million tons of steel manufacturing products and about 30,000 jobs between 2017 till date to smuggling and importation of substandard steel products. The NGO said as the federal government plan to revive

the Ajaokuta Steel company, President Muhammadu Buhari should urgently device effective policy to curb smuggling in the steel sector. According to the group, if the massive economic losses occasioned by smuggling were not halted, there might be no future for the nation’s iron and steel sector. The National Coordinator of the group, Mallam Ibrahim Isah, in a statement recently, also

advised the President to look into, “high conspiracy and connivance among Customs Officer and perpetrators of illegal acts.� He said the President must issue an Executive Order compelling the Comptroller-General to fish out corrupt officers who have been assisting importers to clear such goods, thereby hindering the age-long fight against insurgency, kidnapping and other social vices.

He said, “We cannot fold our arms and allow smuggling to take over our economy thereby subjecting us to high economic risk and massive downsizing of industrial workers. “Many local industries have collapsed due to high rate of importation of substandard products such as coloured corrugated roofing sheets, aluminium roofing sheets as well as galvanised corrugated

roofing sheets. “It is saddened to note that while the nation is gradually winning the war against smuggling through the closure of inland borders, no attention is given to seaports where containers are checked into the country without adequate inspection thereby paving ways for substandard goods as well as dangerous weapons into the nation. There can’t be significant success

without paying cognizance attention to Seaports and Creeks.� He, however, appealed to the federal government to enact a policy that would further protect the interest of the local manufacturers as well as reduce revenue evasion, which he said had made the Nigeria Customs to be losing a minimum of N1 billion to smugglers weekly.

FATE Foundation Urges Entrepreneurs to Uphold Integrity Fledgling entrepreneurs in the country have been advised to uphold integrity in their business. Speakers at the FATE Foundation’s fourth Alumni Conference that held recently in Lagos, gave the advice. Leading the guests to the

event was the Deputy Governor of Lagos State, Dr. Obafemi Hamzat, Chief Executive officer of Slot Systems Limited, Nnamdi Ezeigbo and Senior Partner, TLcom Capital LLP, Dr. Omobola Johnson amongst other distinguished guests at the event.

Delivering his keynote speech, the Chief Executive Officer, Slot Systems Limited, Nnamdi Ezeigbo, urged budding entrepreneurs to focus on building strong brand which would give them an edge in attracting investment opportunities and support from

stakeholders, especially in Nigeria, due the competitive landscape and lack of trust faced by SMEs. He was quoted in a statement to have said further: “It is important for entrepreneurs to understand their business capabilities and align it with

their business strengths, while he implored them to reengineer their process in identifying the right people that the business needs to succeed in ensuring synergy of objectives and growth. “It is important for businesses to understand their competitor’s

strength and weakness, which will help in developing innovative strategies as well as pre-empting them activities, but also key for every entrepreneur is to build strategic alliances and partnerships as strong networks helps to grow brands and businesses.�

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Equities Market Extends Losses on Continuing Bearish Trading Goddy Egene The Nigerian equities market fell by 0.09 per cent last week as investors’ sentiments remained weak despite low valuations. However, the decline last week was better than the 0.29 per cent fall recorded the previous week. Specifically, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) ended at 27,675.04, while market capitalisation stood at N13.472 trillion. Just like the NSE ASI, the NSE Industrial Goods Index and NSE Banking Index also depreciated by 1.8 per cent and 1.6 per cent respectively. However, the NSE Oil & Gas Index went up by 11.6 per cent, while the NSE Consumer Goods Index and Industrial Goods Index gained 5.0 per cent and 3.0 per cent in that order. Analysts at Cordros Capital said they still expected the market to remain pressured given global risk-off sentiments and weak domestic participation. “Nonetheless, we note that valuations remain attractive while price deterioration has resulted in expected dividend yields on some stocks rising significantly to levels on par with yields on Treasury bills. Hence, we advise that long-term investors consider appropriately timed investments,� they said. One good news that came from the market last week was that operators and regulators were introducing new and innovative processes and products that would attract more investors and deepen the market. The acting Director General of the Securities and Exchange Commission (SEC), Ms. Mary Uduk stated this, even as she noted that capital markets across the world have products and mechanisms to stimulate economic growth and development. According to her, while there many of such products in Nigeria, there were aspects that were still untapped, thereby limiting the realisation of our potential. Uduk, said for this reason that some of the processes of SEC that were previously manual and inefficient were now being automated to make the market more attractive to investors. She said: “For instance, with the dematerialisation process completed, investors no longer need to not worry about the loss or damage to their physical share certificates as they are now electronically stored. Further, the current e-Dividend system enables shareholders’ dividend to be paid directly into their bank account without the stress of dealing with physical dividend warrants. “Also, the Direct Cash Settlement protects investors from funds mismanagement by ensuring that the proceeds of their shares sales are credited directly into their own account as against that of the stockbroker. “We are equally working on ensuring that companies’ annual reports are distributed electronically thereby ensuring timeliness of information to shareholders and cost reduction to public companies.� According to her, SEC is working towards a situation where the capital market would be used to solve challenges of mispricing and non-standardisation of commodity products, as well as low foreign exchange earnings bedevilling the country’s agricultural sector. Also, the International Organisation of Securities Commissions (IOSCO) is preparing to launch its third annual World Investor Week (WIW) from to October 6. WIW is a week-long, global campaign, which aims to promote investor education and investor protection, highlighting the various initiatives of securities regulators in these two critical areas. IOSCO members will provide, in their jurisdictions, a wide variety of activities such as launching publications or services, promoting

part of checking the growth and possibly eliminating the unclaimed dividend menace in our capital market�. She added that investors were also protected through the National Investors Protection Fund (NIPF) and the Risk Based Supervision that enabled the commission to supervise operators to do the right thing. “We have a complaints management framework that enables investors to know where to complain to and how long it takes for such complaints to be resolved. “We are committed to protecting investors in the work we do. We will keep working on our rules and the possibility of amending them when the need arises, we want more transparency in the market so that investors will feel comfortable and the market can be better,� she said.

contests and organising workshops, conferences and other events. The Chair of the IOSCO Board and the Chief Executive Officer of the Hong Kong Securities and Futures Commission, Ashley Alder, said: “I welcome this third edition of the World Investor Week which evidences IOSCO’s continuous efforts and commitment to investor education and protection, encouraging new initiatives among IOSCO members and preparing them for dealing with the

challenges of increasingly interconnected and digitalized capital markets.� On her part, Uduk said SEC was determined to ensure capital market investors were adequately protected in all transactions and that was the reason why the commission had stepped up enlightenment campaigns on some of its initiatives. She said: “As you are aware, we have a number of initiatives that we have put in place to boost investors’

confidence. We have the e-dividend Mandate Management System, the Direct Cash Settlement as well as regularisation of multiple subscriptions in place. “Considerable progress has been made in the implementation of the consolidation of multiple shareholder accounts and electronic Dividend Mandate Management System (e-DMMS) as so far about 3.4bn shares have been consolidated. “Both measures were introduced as

Market turnover Meanwhile, investors traded 1.097 billion shares worth N16.693 billion in 14,717 deals last week compared with 1.272 billion shares valued at N18.750 billion that exchanged hands in 19,482 deals the previous week. However, the Financial Services industry remained the most active, recording 751.568 million shares valued at N6.414 billion traded in 8,086 deals, With that performance, the sector contributed 68.53 per cent and 38.43 per cent to the total equity turnover volume and value respectively. The Consumer Goods industry followed with 141.469 million shares worth N8.531 billion in 2,427 deals, while the third place was occupied by the Conglomerates Industry with a turnover of 101.787 million shares worth N203.242 million in 956 deals. Trading in the top three equities namely, Access Bank Plc, Nigerian Breweries Plc and Custodian Investment Plc accounted for 494.681 million shares worth N8.954 billion in 2,137 deals, contributing 45.1 per cent and 53.6 per cent to the total equity turnover volume and value respectively. At the exchange traded products segment of the market, a total of 16,253 units valued at N1.103 million were traded last in 13 deals, compared with a total of 96 units valued at N215,654.78 transacted in six deals the previous week. Similarly, the bonds market recorded a total of 36,581 units of Federal Government Bonds valued at N37.504 million traded in 16 deals last week, as against 17,761 units valued at N20.361 million transacted in five deals two weeks ago. Top price gainers and losers The price movement chart showed 22 stocks that appreciated last week lower than 38 equities in the previous week, while 42 equities depreciated in price, higher than 29 equities in the previous week. Seplat Petroleum Development Company Plc led the price gainers with 21 per cent, trailed by Continental Reinsurance Plc with 20.3 per cent. Total Nigeria Plc and Eterna Plc chalked up 20 per cent and 16.3 per cent. Nestle Nigeria Plc went up 11.1 per cent just as Transnationwide Express Plc and NCR Nigeria Plc garnered 10 per cent each. Conversely, Learn Africa Plc led the price losers with 19.4 per cent, followed by UACN Property Development Plc with 18.3 per cent, just as NPF Microfinance Plc shed 12 per cent. Stanbic IBTC Holdings Plc lost 11.3 per cent, while Cement Company of Northern Nigeria Plc went down by 9.9 per cent. Presco Plc depreciated by 9.9 per cent, while Skyway Aviation Handling Company Plc and Nigerian Aviation Handling Company Plc depreciated by shed 9.8 per cent and 9.6 per cent respectively. Consolidated Hallmark Insurance Plc and Vitafoam Nigeria Plc declined by 9.0 per cent apiece.

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Ighodalo: No Govt Can Function with Unmotivated Civil Servants The Chairman of the Nigerian Economic Summit Group, Mr.Asue Ighodalo, in this interview expresses belief that with the right dose of policies, the Nigerian economy will recover. Ighodalo, who also spoke about the forthcoming 2019 Nigeria Economic Summit, advised governments at all levels to ensure that civil servants under their employment are well trained and motivated to meet the tasks of the 21st century. Obinna Chima presents the excerpts: President Mohammadu Buhari recently constituted an Economic Advisory Council. Do you think this set of economist he has assembled can make any difference from what we have seen in the past four years? Yes, there must be a reason why Mr. President decided to have the advisory council at this time. You know historically, most presidents when they come into their second term they are able to reflect on what they did in the first term and how they can do better. They also begin to think about their legacy. The issue of the Nigerian economy not doing as well as it can, has been on everybody’s mind. So I am sure it is on Mr. President’s mind too. I was involved in a group and I spent two days with Mr. President, where we talked about the economy and private sector. So I think Mr. President is trying to ensure that he leaves a strong economy behind after his four years. And that is why he has called on seasoned economists. It is a powerful and a great team of economists. People have said will Mr. President listen; I think he will. I think he set up the team for a reason. You know, it is the prerogative of every leader to determine the advice they take, so their role is to analyse, sit with him, advise him and tell him why. His role is to look at the big picture and to determine what he thinks is in the best interest. So I think it is a good step and I think if the council stays focused and do what they need to do for the people of Nigeria, it will be a great thing. But in terms of the economy, what do you think we ought to be doing as a nation that we are not doing presently? Nigeria even from where I sit is a slightly complex country in dealing with many things and sometimes if you are not in leadership, sitting down with other leaders, you don’t get to see the full picture. So it is good for us to criticise and it is good for us to sometimes complain than to sit in our sitting room and say what we think should be the appropriate things to be done. Sometimes, I like giving leadership the benefit of doubt because I have been close to many leaders over the years and I know many leaders, particularly at the presidential level mean well. There is no leader that has gone into governance to make the people worse off, suffer more. No, they all mean well and they want to leave a good legacy. Now, how it is done is different. Part of the problem we have had in Nigeria has been the issue of effective implementation and there are many reasons for that. People blame civil servants, but if you go back historically, you will see that there was a time that civil servants were dealt with in a way that made them start losing self-esteem. If you go back to the 1975 retirement of civil servants, the best of civil servants were summarily dismissed from the service. That caused a major disaffection of more civil servants at that time. And there is no civil servant that works well if not motivated. If you look at 1975, civil servants, maybe a permanent secretary used to earn about N14,000 per annum. N14,000 in those days was about $16,000 dollars. So today, compare what a permanent secretary earns. So what is the motivation for the civil service? For you to get an effective support system, they need to be well trained, well-motivated, trusted and listened to. So we have a civil service that is not fit-for-purpose because of historical issues. So, that is why we need to deal with the civil service. So even when you have politicians and leaders who have great programmes, great ideas, the capability to implement and delivery is not that strong as it should be. I remember when Nasir El-Rufai was in the FCT, he worked with minimal civil servants. I told him at the time that that

Ighodalo is not the answer as not everybody can work without civil servants, and he did very well in the FCT, extremely well. But it is not everybody that can work without civil servants. So, what I think we should do is we look into the civil service, motivate the civil service, train the civil service, make them fit-for-purpose, and it will be easier for the politicians to implement their programmes. That is number one when you talk about things we are not doing well. I also think that we need to engage the private sector a lot more from the perspective of creating an enabling environment. Patient capital only flows to where it is welcome. If you look at the total government revenue, it cannot meet our needs, so money from somewhere else has to make up. Now, where is that somewhere else? It must come from internal savings, internal and external investments. So for people to put their money here, it must be worth the while. They are not charity, we still have a few charity organisation that bring their money, but for those who put their real money here, they need to make some profit on it, they need to know that the environment will allow the money to grow, so government should try and work harder. I know the government has been looking at it, but I think government needs to create an enabling environment where anybody that brings his or her investment into this environment feels secure and safe and they know that their investment is secure and safe. And they know also that they won’t return until they reap proper returns from those investments. Now, our body language cause those that are not in this environment to worry. So, I think there are a few things we can do differently. If our environment is attractive to that kind of capital, then you will find capital supporting government expenditure.

So government can then focus on those things that are real social issues for the real poor people and create the inclusive economy that we need and private sector money will flow into other areas of infrastructure like roads, creating jobs, so that government money can then concentrate on things like social security issues, hospital and some part of education. So, I think government is realising that and government needs to work on that. If you look at it, the Nigerian is one of the most hardworking and one of the most entrepreneurial person I know. Everywhere a Nigerian goes outside Nigeria, they excel. I have immense optimism and faith in the Nigerian capability to turn the country around. China did it, other countries did it, we can do it. It is just to put in place and start implementing some of the policies that we know are the right ones. But what do you think is making the private sector lag behind in terms of investments? There are two things, indigenous and exogenous, that is internal and external. I tell people everywhere I have the opportunity to speak that the private sector has a major role to play in the development of this country. So people that run businesses, no matter how big or how small, should run their business extremely well. They should be-cost efficient, they should train their people and businesses should be properly governed and you should look at growing your business, so it becomes a big business, a big state business or a big country business. It should be a big African business and it should be focused. So if in our own areas, we are doing excellently well, we

train our people and keep our best people, then you will see an aggregation of great companies, institutions, even at the small and medium scale level. Anywhere in the world, companies start small, then the business multiplies, that is how economies get built. That is how productivity is made stronger and that is how our GDP grows. So my talk and my comment to the private sector every time is that private sector needs to be focused. Do the things you need to do efficiently because there is still manpower regardless of where technology is going, I believe in the human capacity. So train your people, support your people, build your company, trust your people, keep good people and then incentivise them, make them part of the business and then remunerate them properly. So the businesses grow, the businesses multiply and we have a lot more Dangotes and we have a lot bigger companies. It is in my lifetime that we have a Guaranty Trust Bank, a Zenith Bank and a Dangote. So imagine if we replicated 20 or 30 of those, imagine all the people that would have been employed, all the lives that would have been touched. In Nigeria, for one person that earns salary is taking care of 20 other people at the very least, directly or indirectly. So, imagine the effect of that. So, if we kind of multiply those kind of institutions, everybody that has a good idea is able to build on their idea, one way or the other. Secondly, the government needs to create an avenue, apart from the enabling environment, where we can find easier capital. I know the central bank has a lot of intervention fund that it is trying to do, but I think we should spread it around a bit so it is easier for them to access. So, that when you are starting at a lower level, whether you go to the Bank of Industry or Development Bank, you are able to access. And you are able to identify people that would genuinely use the capital that comes to them and find a way to ensure that they pay back. I ran a scheme in my village a few years ago, where I gave N150,000 to a few market women and it was a no brainer, they went to multiply their businesses, gave me my money back and at the end of the day, I gave the money back to them to continue with their businesses. I know that there is a lot of thrive in the environment. So, on one hand, there are few things government needs to do, but on the other hand, there are many things that we also need to do in the private sector and we need to collaborate and work together, which is also the essence of what we do at the Nigeria Economic Summit Group (NESG). Our work is to speak with government, supporting government, researching, providing data and talking, so that we all can have a better economy. For instance, I am too old to go to Canada or anywhere, I am no longer interested. Over there, you will find that our children are doing better than Chinese children in school. The Nigerian child is excellently gifted, so why don’t we channel that gift to building a very strong and viable country. It can be done with good leadership at every level, national level, state level, local government level at the business level, even in the home. I keep talking about the home because the home is where the values are built. We need to start from the home -leadership at home, at the state level, even at the village level. There is leadership at every level and we need to concentrate on them. We shouldn’t point fingers in one direction. Everybody has a role to play and we should play our roles very well. Do you think the government is doing enough in the area of domestic revenue Continued on page 30

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IGHODALO: NO GOVT CAN FUNCTION WITH UNMOTIVATED CIVIL SERVANTS mobilisation? Again it depends on the tools available. I think the government truly wants to jack up the revenue base and government is doing as much as it can at this point in time. But the way I see things is that if you don’t make a bigger cake, you are not able to cut out bigger piece and what many Nigerians should start looking out is how we are going to bake a bigger cake so that we can all have bigger pieces. We need to widen the scope of the economy so that the base for revenue collection is much wider. There are many ways by which we can do it and one of the things I said is that we should build a bigger, stronger, more viable economy. Let us make it easy for people to want to do businesses in Nigeria, and then we widen the base. Once we widen the base, it is easier for you to then mobilize revenue at the domestic level. We need to support businesses, there is no other way out. There is no economy that has been built where businesses haven’t grown in every level. A man or woman that doesn’t have a job has a fallen self-esteem. Once you have a fallen self-esteem you can’t think. When you are broke, you can’t think. So, I think we need to widen our revenue base. Government is trying, it is focusing on infrastructure, but a lot more has to be done. I am a chairman of a manufacturing company. We have had a nightmare trying to clear our equipment from the port. So turn around cycles that are probably five to six days before, is now one or two months, imagine what that does to our economy? It doesn’t make sense. Now, see what that has done to the value of properties in Apapa. I was really disappointed that we didn’t resolve the Apapa port issue faster than it should have been resolved because the problems were not problems that couldn’t be resolved. So sometimes I think the response time is not as great as it should be, we’re not responding as fast as we should to things that come up. The power sector, in 2001, I was appointed during President Obasanjo’s government into the Power Implementation Reform Committee. That was when we started looking at the reform of the power sector. Our first chairman was late Chief Bola Ige, the then Minister of Power; then our next chairman was Chief Agagu. We had in that committee, Nasir El-Rufai and Liyel Imoke and some others. We were looking at the totality of Nigeria’s power problem. Then we came out with a power policy for Nigeria and we also came out with the draft of this new law. What was the issue again? Full implementation of the policy. We found ourselves today still with the power sector problems. So, if you go through any ministry, go through any departments in Nigeria and you dig up old files, you will find out that same recommendations that could have solved that problem are in place, it’s just the implementation. So we just need to take a seat back and ask ourselves, what we really want. The NESG launched a report on taxation in the ďŹ rst quarter of this year, what were the recommendations and how are you working with the government to ensure that it is implemented? We are still working on it because we have a fiscal commission and we are working with government and some Foundations, but the work isn’t complete. We know that we need to raise the tax base. We also need to look into certain areas; those things that if we increase tax may affect consumption, investment and those areas in which we think if we increase tax, they will be more revenue positive than consumption negative. So, we are still working on it and we haven’t come out with a full answer. When we complete the work, we would make it public. If you look at some of NEITI’s report, you will notice that a lot of the states cannot survive on their Internally Generated Revenue alone, they are not even to pay salaries and the standard of living in those states have remained low. How do you think they can overcome this challenge? You know I have never been a chief executive in a state before. So, I really don’t know all the problems that chief executives face. But from where I sit, I can say a few things. If you look at some states today, let us take a state like Kebbi State - I know a bit about what is happening there because governor Bagudu is my friend and has paid attention to my bank, Sterling Bank in Kebbi state. I think the governor and his cabinet would have asked: ‘where do we have comparative advantage? We are not going

and your agenda is a better Nigeria, they will listen to you. Sometimes people get the feeling that the government doesn’t like business people, I don’t think so. I think it is just that sometimes when the seat where they are, they have had their advantage on what some business people have done, they then say this is not the way an economy should grow. But I say to them that they should not throw away the baby with the bath water, the majority, 95 per cent of the Nigerian business persons are hardworking, focused and honest.

Ighodalo to sit down and wait for Abuja to bring money. We need to do something for our people. So what can we do? Rice, agriculture,’ and he focused on it. Regardless of what anybody says, the rice revolution in Kebbi state is real. And a few other states. If you go to Kaduna state, despite the occasional threat issues they have, there is an industrial revolution going on, there is focus on education. If you go to my state, Edo, since governor Oshionhole’s investment in infrastructure and a continuation by Obaseki, who also is my friend, there has been a continuation regardless of what the political issue people are talking about. In five years’ time, both Edo and Kaduna will have a highly literate children getting ready to become workforce. People will start picking their workforce from those two states very soon. And because of peer pressure, I suspect a few more governors will start copying those two governors. I hear about the things governor Makinde is doing in Oyo state, I don’t know him personally but I have read a lot about what he is doing. So if we have 10 governors, and my brother Fayemi is always thinking about what to do in his state, then if you have 10 states who are running at that pace, who can develop revenue for themselves using comparative advantage that they have, there will be peer pressure on those governors who are not doing very well. I also say Nigeria will develop from its sub-sovereigns. If the sub-sovereigns develop properly and strongly, the country will develop properly and strongly. If you look historically at Nigeria, it is unfortunate that we have the problem of 1960s, and got derailed by civil war and military takeover. But if you look at it, western region was ahead economically and politically, possibly through their introduction to western education before the rest of the country. But between 1951 and 1960, free education, the first TV station in Africa, universities, all of the infrastructure. What was the response from the east and the north? They too did education for their people, television stations, universities, industrial parks. If we had continued at that pace in the 60s, Nigeria would have been a first world country today. So if we come back today through peer pressure, the days of sharing FAAC money would be gone. People are becoming more inquisitive, they are asking more questions, so at the state level I hope it brings peer pressure and more focused people who know that they have to deliver to the people, and they will be called to account, we would have development at the sub-sovereign levels which will aggregate into sovereign. And I think it will be good for the federal government. So, the federal government should truly support what is happening at the sub-sovereigns and there should be some ranking for governors, just like being in class. It is evolving slowly and that is why I remain

optimistic; the crop of governors we have now are better than the ones we had before. There is an improvement and I hope that improvement affects the legislatures. What I just need is that Nigerians themselves should force government accountability. So I am optimistic. The recently NESG recently unveiled a new brand. What inspired that? We had an identity logo created in 1996, at the time, we were Nigeria-centric. We are having the 25th, technically the 26th, because it started in 1993, but it is 25th summit because we missed one year. So we felt it was a time to take stock. To sit back and say where are we and where do we want to go. So our new logo reflects where we want to go. If you look clearly, you will see that there is some disguised map of Africa there, so it shows our intention. Our intention is to be the foremost think-tank in Africa and one of the foremost think-tanks in the world to focus on growing and supporting the growth of economies of Africa and also contributing our quota to speaking about the development in Africa at the world stage. We are going to be the foremost think-tank and research institute. We are spending a lot on strengthening our research capacity so that we are in a position to sit with government and talk to government and we would then translate that to sitting with government in Africa and talking to them. We are talking to some state governments, the federal government and governments outside Nigeria. So we want to step on the world, but our focus will remain Nigeria to support the process of moving Nigeria to the first world, but then we would also engage with international players. We are strong at the World Economic Forum (WEF) level – WEF on Africa and international WEF. And we are involved in lot of international donor agencies like Bill and Melinda Gates Foundation, Ford Foundation, and they are supporting us. We are very active in what is happening in the north-east and we are supporting the humanitarian needs. The issue is we are not just Nigeria-centric anymore we are looking at it from a bigger stage. And also if you look further in the logo, you will see something around knowledge, which also shows that we are focused more on research. So we are an advocacy unit, a research unit, an engaging unit and our role is to support government at every level to do better, and we will continue engaging them. People have accused us of being a talk shop and we smile. If you don’t keep talking, keep engaging, keep persuading because you are not the politician, somebody won the election on some manifesto. If you want to get them to change direction into an area you think will be better for the country, you have to engage. When people know you don’t have an agenda

What policies or recommendations of the NESG have been adopted by government over the years? Again, the leaders or politicians must take the glory. All I can say is that there are certain things that we suggested to government and overtime we see them in policy, whether it was because we suggested it or because they knew about it, we are glad that it has become policy. For instance, if you look at the telecoms revolution, you look at privatisation, the attempt of power reform, attempt at energy reform, oil and gas reform, the time to broaden the tax base. There are many things over the last 25 years that we have been talking about and after we talked a while, some of those things found themselves into policy and law. So we are not laying total claim to be the proponents and advocates of those things, but we are glad that they were the things we had talked about over the years. If you look at our first green book, you will see the similarity in some of our recommendations and some government policies. We are not interested in taking glory, we are interested in making sure that things we recommend, things we suggest, things we beg, get done. In the last five to six years, we have also been working with legislature and our focus and goal here is to ensure that laws that will create an enabling environment and help businesses are enacted. So we have worked with the National Assembly and the NBA in that regard. Some of those laws have seen the light of the day, others are awaiting assent. Ours is to stay under the radar and support the process. If our support yields fruit, then let somebody else take the accolade. We are not in the business of taking accolade we are in the business of making sure that we build a viable economy. But why did you choose, “Nigeria 2050: Shifting Gears,� as the theme for the 2019 Nigeria Economic Summit? Does the NESG want to set an agenda for the government with this year’s summit? We are not setting an agenda for the government. What we are doing is engage to start the process of a conversation to help put in place a long-term development for the country. We just want to start a conversation that we think, especially if you look at it from the point that Vision 2020 terminates at the end of 2020, the Economic Recovery and Growth Plan (ERGP) also terminates at the end of 2020. So, we think it is a good time to start looking at a holistic development plan for Nigeria. Where do we want to be in 2050? Let us look at those that are in the top, where will they be in 2050, how do we get to whether they are in 2050? Those are the things Nigerians should be think of, not what Nigeria should be at its current rate of development in 2050. It is where those who are in the first world would be in 2050 and how would Nigeria plan to be there. People have said we have the plans before but it didn’t work well. True, but that doesn’t mean we should stop. We think that we can try again and we see the ingredient of focus for these plans to work well. Everybody is tired of Nigeria being a third world country especially when we have the resources and the capacity to be a first world country. Our focus is to have plans that will be in periods of five years. So after years, years we ask what have we achieved? We take stock. Do another five years, take stock. And if you look back historically, in the early 60s, late 50s, we always had development plans in Nigeria and it helped for the initial development of Nigeria. So we think it is a good time to just initiate the conversation and try to create the template for what a development plan should look like for Nigeria if Nigeria wants to be a first world country in 2050. So we are just starting a conversation and we are hoping that government will take and own the conversation.

MONDAY SEPTEMBER 30, 2019 • T H I S D AY

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IMAGES

T H I S D AY Ëž ÍąÍŽËœ Ͱ͎ͯ͡

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

Standing (Left to Right) Mr. Ayokunle Olugbenga of WAICA-Re Mr. Ernest Akpan of NNPC/CHQ ABUJA, Alhaji Sulaiman Koguna of Koguna Babura Insurance Brokers Limited; Mr. Usman M. Naziru of NNPC/CHQ GRID Imam; Shawanat Bolaji of NAPIMS; Mr. Mato Udaa Peter of NAPIMS; Sitting (Left to Right) Mr. Steve Odjugo (Facilitator); Mr. David W. Sharp, (Lead Facilitator from London); Mrs. O.O Mobolaji of NAPIM; Dr. Dan Okehi (Facilitator/ MD Brickred Consult Ltd) and Mrs. Kolawole Adejoke of Chevron Nig Ltd), at the 3-day Oshore Energy Construction and Operation Insurance Workshop in Dubai..recently

L-R: Founder/CEO of Chanja Datti Ltd, Funto BoroďŹƒce; Director General, Lagos State Records & Archives Bureau, Mrs. Bilikiss Adebiyi-Abiola; Director, Inspection & Enforcement, National Environment Standards & Regulations Enforcement Agency (NESREA), Mrs. Miranda Amachree; Corporate Aairs & Sustainable Business Director, Unilever PLC Ghana & Nigeria, Mrs Soromidayo George; and Head of Corporate Communications, Unilever Nigeria, Godfrey Adejumoh, at the Plastic Waste Management Policy Workshop held in Lagos...recently

Delta State Governor, Senator (Dr) ifeanyi Okowa (right) and the Archbishop, Metropolitan and Primate of All Nigeria (Anglican Communion), Most Revd Nicholas Okoh during the opening ceremony of the Standing Committee of the Church of Nigeria meeting in Asaba...recently

Chairman, Committee of Western Nigeria Heads of Service football festival, Mr. Seyi Akinwunmi (left); presenting the Trophy of the Football Festival to the Lagos State Deputy Governor, Dr. Obafemi Hamzat, during a courtesy visit on the Deputy Governor, by the committee, in Lagos...recently PHOTO: KOLA OLASUPO

L-R: CEO, Laurus Development Partners, Mr. Peter Young; Customer Relationship Manager, nahco aviance, Prince Al Ihekwaba; Group Executive Director, nahco aviance, Prince Saheed Lasisi; Chief Operating OďŹƒcer, nahco aviance, Mr. Herbert Odika; President, Association of Foreign Airlines Representatives in Nigeria (AFARN), Mr. Kingsley Nwokoma; Chief of Sta to the Minister of Aviation, Alhaji Idris Ibrahim; and Head, Governmental Aairs, nahco aviance, Mr. Ahmed Bashir Gulma, during the conferment of the Most Congenial Ground Handling Company of the Year Award on nahco aviance by Foreign Airlines Representatives, in Lagos...recently

L-R: University of Jos, Law set of 1984, Dr. Morgan Piwuna; Dr. Pam Adamu; Dr.(Mrs.) Comfort Otaru; Mr. Steve Abar; Mr.Mohammed U. Oloje and Mr. Isa Haruna, during a reunion dinner of University of Jos Law set of 1984 in concluded of national conference of the Nigerian Bar Association in Lagos...recently

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L-R: Corps Public Education OďŹƒcer, Federal Road Safety Corps (FRSC), Mr. Bisi Kazeem; Vice Chairman Beer Sectoral Group (BSG), Mr. Baker Magunda; Chairman, Beer Sectoral Group (BSG), Mr. Jordi Borut Bel; Corps Marshal, Federal Road Safety Corps (FRSC), Dr. Boboye Oyeyemi, and Corporate Aairs Director, International Breweries Plc, Otunba Micheal Daramola during the ‘DON’T DRINK & DRIVE’ Campaign by the Beer Sectoral Group (BSG) of MAN in partnership with Federal Road Safety Corps (FRSC) in Lagos...recently PHOTO: ABIODUN AJALA

Emir of Kano, Muhammadu Sanusi 11 and Minister of Women Aairs, Mrs. Paulen Tallen during SDG HighLevel side event at the 74th United Nations General Assembly in New York....recently

L-R: Executive Chairman, Lagos Island Local Government Area, Prince Adetoyese Olusi; Representative, Budhrani Charitable Trust, Mr. Maeshwaran; Representative of the Chairman, State Universal Basic Education Board (SUBEB) Lagos State, Mrs. Olubunmi Oteju and Vice Chairman, Hon. Wadood Bashorun; during the oďŹƒcial commissioning of Schools renovated by Budhrani Charitable Trust at Oja-Oba,Isale Eko, Lagos Island, Lagos...recently

Chairman, Trade Promotion Board and Vice-President, Lagos Chamber of Commerce and Industry (LCCI), Mr Gabriel Idahosa(Right) and Group Head, Consumer and Retail Banking, United Bank for Africa (UBA) Plc, Mr. Jude Anele, at the Press Conference organised by LCCI and the headline partner, UBA Plc, on the upcoming Lagos International Trade Fair 2019 in Lagos...recently PHOTO: DAN UKANA

R-L: Rivers State Governor, Nyesom Ezenwo Wike; Deputy Governor, Ipalibo Harry Banigo; Representative of the NLC President, Dr Comfort Okoh, Former Rivers State Governor, Sir Celestine Omehia and Chairman, NLC Rivers State, Comrade Beatrice Itubo during the Commissioning of the Rivers State NLC Secretariat in Portharcourt... recently

L-R: Chairman, Pharmaceutical Society of Nigeria (PSN), Abuja branch, Pharm. Jelili Kilani; Chairman of the Ocassion, Mr. Sam Nda-Isaiah and Editor-in-Chief, PSN Abuja branch, Dr. Abubaka Danraka, at the 2019 World Pharmacist Day celebration in Abuja...recently PHOTO: ENOCK REUBEN

L-R: Regional Sales Director, Lagos Mainland, Access Bank, Mrs. Olukemi Olayinka; Iyalaje, Kosofe market; Alhaja Sakirat Balogun; Acting Executive Secretary, Lagos State Employment Trust Fund (LSETF), Mrs. Teju Abisoye; Member, Board of Trustees, Lagos State Employment Trust Fund (LSETF) Comrade Popoola Ajayi; General Secretary to the Community Development Chairman, Kosofe LG, Mr. Segun Babatunde and Iyaloja Mile 12 market, Mrs Adesanya, during the LSETF W-Initiative Grassroot Stakeholder Engagement in partnership with Access Bank in Kosofe LG.. recently

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T H I S D AY Ëž Ëœ ÍąÍŽËœ 2019

BUSINESS/MONEYGUIDE

Cashless Policy: CBN ClarifiesTransactions at Agent Locations Nume Ekeghe The Central Bank of Nigeria (CBN) has explained that under the cashless policy, agent locations are omitted from paying processing fees or tax on cash out done. The central bank also said they would constantly take proactive measures to curb epayment fraud by continuous collaboration with banks as well as capacity building for financial institutions fraud departments. The Director, Payments Systems Management Department, who is also the Chairman of the Nigeria electronic Fraud Forum (NeFF) Mr. Sam Okojere, said this at the second general meeting of the group in Lagos at the weekend. Speaking on the charges

exemption for agency merchants, he said: “For clarity, the processing fees will only be applied on withdrawals above the prescribed thresholds. An example would be if an individual withdraws or deposits a cumulative sum of N600,000 into his/her account or all accounts in a bank in one day, the processing fee to be charge would be three per cent of the N100,000 that was in excess of the prescribed threshold of N500,000, that is N3,000 (for withdrawals) and two per cent of the N100,000, that is N2,000 (for deposits). “Likewise, if a corporate should make a withdrawal or deposit a cumulative sum of N4,000,000 into its accounts in a bank in one day, the processing fee to be charge would be five per

cent of the N1,000,000, that is in excess of the prescribed threshold of N3,000,000, which is N50,000 (for withdrawals) and three per cent of the N1,000,000, that is N30,000 (for deposits).� He added: “In addition, there will be no processing fee either under the cashless policy or tax on cash-out done at agent locations in order to encourage financial inclusion in the country.� Speaking on efforts to secure the payment system in Nigeria, he said: “NeFF is the culmination of an enormous collective effort over the years, with many institutions and individuals contributing towards its development and progress to ensure a safe and more secure payment system in Nigeria.

Fidelity, Greenhill Recycling Support Environmental Sanitation Hamid Ayodeji A waste management firm, Greenhill Recycling and Fidelity Bank Plc have organised an environmental clean-up exercise, in collaboration with the Lagos Waste Management Authority (LAWMA). The exercise was to commemorate the world sanitation day, as part of efforts to cater for a cleaner and healthier environment. Greenhill Recycling is a social enterprise that creates wealth from waste whilst generating employment opportunities for people living in the high-density, low-income areas of the Lagos Metropolis. Its innovative approach to waste management revolves around awarding redeemable Greenpoints to subscribers who

regularly present their waste for pick-up and, subsequently, recycling at its plant located at Ejigbo, Lagos. The firm recently beat over 2000 other applicants to emerge the first runner-up in the maiden edition of the Fidelity SME Funding Grants Competition, which was organized on 7th of August, 2019. For finishing second, it carted away the sum of N1 million. In line with its commitment to institutionalising the top five finalists from the competition as successful businesses, and as part of the drive towards promoting environmental sustainability, Fidelity Bank Plc LC took part in the Isolo Clean-up event, which was organised by Greenhill Recycling to mark the 2019 edition of the World Cleanup Day.

Staff and customers of the bank were on hand to clean up the streets of Isolo in the Oshodi-Isolo Local Government Area of Lagos State. The highlight of the event was the launch of the Blue Box initiative by LAWMA. The Chief Executive Officer, Greenhill Recycling, Mariam Lawani, during the sanitation scheme, pointed out that the initiative was in line with the United Nation’s Sustainable Development Goals (SDGs). According to her, the firm was committed to ensuring a clean and healthy environment in the country. Lawani said, “we need members of the community to understand that it is their civic responsibility not to indiscriminately dispose their waste.

Wema Bank Empowers Customers Wema Bank Plc has rewarded 20 of its Royal Kiddies Account customers as the financial institution announced winners of its Wema Education Awards for 2019. Following the announcement to provide education support for its customers, a total of 20 winners emerged with six coming from the bank’s Lagos region, five from South-west and three each from South-east, South-south and the northern region. Speaking at the draw held in Lagos, a statement quoted the Divisional Head, Retail Banking, Wema Bank, Dotun Ifebogun, to have revealed the commitment shown by customers of the bank’s Royal Kiddies Account. According to him, the management of Wema Bank has discovered over

the years that the annual award has carved out a niche for itself in the banking sector in Nigeria. He stated that the cash prize from the award has endeared itself to the hearts of many parents, who already have opened an account for their children aged 0 to 12 years. Ifebogun, disclosed that many of those parents usually look forward with expectations of their children being among the lucky winners. He went on to assure customers that Wema Bank would continue the children education support scheme and charged parents yet to open the account to do so. According to him, the Royal Kiddies Account allows lodg-

ment of dividend warrants and cheques in the beneficiary child’s name. As part of the benefits accruable from the account, he explained, Wema Bank charges no interest on any banker’s cheque purchased for payment of school fees for the account holder. Similarly, the Head of Brand and Marketing Communications, Wema Bank, Funmilayo Falola, said the financial institution believes that education plays a key role in the future of every child. This, she said, was the reason the bank attaches importance to Wema Education Awards. She described the award as a veritable window through which the bank supports the destiny of future champions.

Universal McCann Appoints Efienamokwu CEO Raheem Akingbolu The Universal McCann Lagos (UM) has appointed Austin Efienamokwu as Chief Executive Officer, in a move industry sources termed a major generational leadership shift. Efienamokwu, formerly Media Director & Business Head at Vizeum Nigeria, a subsidiary arm of Media Fuse Dentsu Aegis Network is a holder of MBA from Ladoke Akintola University, Ogbomosho, and a graduate of Quantity Surveying from Yaba college of Technology. The new agency head started his media advertising career

with MediaReach OMD as a management trainee and rose to become maiden country manager of the Cameroun office and later proceeded to work with Capital Media, a media agency of DDB Lagos as their Strategy Director. He however resigned his position at the media agency to take up appointment at the client’s side with Bharti Airtel Nigeria. Still poised for career satisfaction and encouraged by his passion for creative media solutions, Efienamokwu joined Vizeum as Media Director/Business Head, where he served at West Africa Hub media director overseeing launch of ABInBev’s Budweiser

in Nigeria and other international and national brands across the region until his recent appointment as the CEO of Universal McCann (An IPG Mediabrands network). His appointment at Vizeum helped to accelerate the agency’s rapid growth and drive development of services and capabilities for competitiveness. “It is to the credit of Austin Efienamokwu that Vizeum became one of the fastest growing media agency, winning several juicy media advertising businesses and awards within the Media Fuse Dentsu Aegis Network.

L-R: Executive Director, Wema Bank Plc, Mr Wole Akinleye; Chairman, Development Bank of Nigeria, Dr. Shehu Yahaya; Acting Managing Director, Financial Institutions Training Centre (FITC), Dr Olatunji Ajiboye; Non-Executive Director, FBN Holdings Limited, Mrs Cecilia Akintomide, and Executive Director, Guaranty Trust Bank Plc, Dr. Ademola Odeyemi during the 2019 Central Bank of Nigeria (CBN) / FITC Continuous Education Programme for Directors of Banks and Other Financial Institutions held in Lagos‌recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

NOVEMBER 2018 Money Supply (M3)

31,794,803.44

-- CBN Bills Held by Money Holding Sectors

6,333,064.28

Money Supply (M2)

25,461,739.17

-- Quasi Money

14,773,076.98

-- Narrow Money (M1)

10,688,662.18

---- Currency Outside Banks

1,711,763.59

---- Demand Deposits

8,976,898.59

Net Foreign Assets (NFA)

18,990,400.78

Net Domestic Assets(NDA)

12,804,402.66

-- Net Domestic Credit (NDC)

26,062,986.22

---- Credit to Government (Net)

2,980,229.66

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

7,093,619.43

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

-4,144,571.43

---- Credit to Private Sector (CPS)

23,082,756.56

--Other Assets Net

13,258,583.57

Reserve Money (Base Money

6,811,192.37

--Currency in Circulation

2,100,129.91

--Banks Reserves

4,366,259.05

Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

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

March 2018 15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

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OPEC DAILY BASKET PRICE Ëœ Í°Í´ Ͱ͎ͯ͡

The price of OPEC basket of fourteen crudes stood at $62.31 a barrel on Thursday, compared with $62.35 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

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T H I S D AY Ëž Ëœ ÍąÍŽËœ Ͱ͎ͯ͡

MARKET NEWS

Shareholders of Fidson Healthcare Approve 15 kobo Dividend, Hail Firm’s Resilience Judith Obaze Shareholders of Fidson Healthcare Plc have approved the dividend of 15 kobo per share recommended by the board for the year ended December 31, 2018, at an annual general meeting (AGM) of the company held in Lagos recently. The shareholders commended the board and management’s efforts in steering the affairs of the firm despite the challenging operating environment. They

said the efforts being made to stand the competition and deliver improved returns were highly encouraging. The company recorded an increased turnover of 15 per cent, from N14.06 billion in 2017, to N16.23 billion in 2018. However, due to increased cost of sales from 49 per cent margin in 2017 to 61 per cent and increased finance cost (up by 92 per cent), Fidson Healthcare Plc’s profit fell to N161 million. But the company said it had taken steps to improve

P R I C E S MAIN BOARD

F O R DEALS

its finance structure and had concluded a rights issue of N3 billion last June. The capital raise was towards refinancing expensive debt and working capital funding in a bid to improve its margins. Addressing the shareholders, the Chairman of Fidson Healthcare, Mr. Segun Adebanji, said company continued to leverage its World Health Organisation (WHO)certifiable factory, having recently executed a partnership with Glaxosmithkline Consumer(GSK) Plc that would see Fidson manufacture

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

QUANTITY TRADED

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for GSK’s West African operations going forward. This, he added, alongside market penetration strategy and cost optimisation are a few of many initiatives to sustain growth and return value to shareholders that the company is currently pursuing. Adebanji noted that Fidson continued to strengthen its operating facilities with expansion and retooling. ‘’Old machines and equipment have been disused and replaced with modern ones. We are currently expanding

T R A D E D MAIN BOARD

A S

our capacity utilization through increased production and contract manufacturing for other notable companies in the industry,’’ he said. He also said the company was poised to reposition the business through business realignment and useful industry collaboration in order to take advantage of the growth opportunities in the market, stressing that “We are currently expanding our capacity utilization through increased production and contract manufacturing for other notable

O F

companies in the industry.� Adebanji said the company’s capital structure received attention in the form of lowering the gearing level and we believe this would impact positively on the company’s profitability. According to high, generally, high interest rates, epileptic power supply and the unabating security challenges around the country remained major threats to the manufacturing sector and economic development in the country.

2 6 / 0 9 / 2 0 1 9 DEALS

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˾ MONDAY, SEPTEMBER 30, 2019

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THISDAY AFRINVEST 40 INDEX

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Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

dŚĞ ĞƋƵŝƟĞƐ ŵĂƌŬĞƚ ĞŶĚĞĚ ƚŚĞ ǁĞĞŬ ŝŶ ƚŚĞ ƌĞĚ ĂƐ ƚŚĞ ^/ ĚĞĐůŝŶĞĚ ďLJ Ϭ͘ϭй t-o-t ƚŽ Ϯϳ͕ϲϳϱ͘Ϭϰ ƉŽŝŶƚƐ ǁŚŝůĞ zd ůŽƐƐ ƐĞƩůĞĚ Ăƚ -ϭϭ͘ϵй͘ ŽŶƐĞƋƵĞŶƚůLJ͕ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ĨĞůů ďLJ Eϭϭ͘ϱďŶ ƚŽ Eϭϯ͘ϱƚŶ͘ dŚŝƐ ǁĂƐ ĚƌŝǀĞŶ

ďLJ ůŽƐƐĞƐ ŝŶ > ZE &Z/ (-ϭϵ͘ϰйͿ͕ h WZKW (-ϭϴ͘ϯйͿ ĂŶĚ EW&D Z& (-ϭϮ͘ϬйͿ ĂƐ ǁĞůů ĂƐ ƚŚĞ ďĞĂƌŝƐŚ ƌƵŶ ŽŶ ϯ ŽƵƚ ŽĨ ϱ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶƐ ŽĨ ƚŚĞ ǁĞĞŬ͘ ĐĐŽƌĚŝŶŐůLJ͕ ĂĐƟǀŝƚLJ ůĞǀĞů ǁĂŶĞĚ ĂƐ ĂǀĞƌĂŐĞ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ĨĞůů ϭϯ͘ϱй ĂŶĚ ϭϭ͘Ϭй ƚŽ Ϯϭϵ͘ϯŵ ƵŶŝƚƐ ĂŶĚ Eϯ͘ϯďŶ ƌĞƐƉĞĐƟǀĞůLJ͘ dŚĞ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀŽůƵŵĞ ǁĞƌĞ

Ticker

Current Price

THISDAY AFRINVEST 40

Price Previous Current Change Price Weightin YTD Change g

Price Change Index to Date

ROE

ROA

P/E

P/BV

Divindend Earnings Yield Yield

1,210.59

-0.03%

-17.5%

21.1%

18.6%

5.7%

4.8x

0.7x

7.0%

17.5%

1 Guaranty Trust Bank PLC

27.60

-1.3%

18.7%

-19.9%

-20.0%

34.8%

5.2%

4.1x

1.4x

10.0%

24.1%

2 Zenith Bank PLC

18.50

0.8%

12.1%

-19.7%

-19.7%

24.8%

3.4%

3.0x

0.7x

15.1%

32.9%

150.70

-0.9%

8.7%

-20.6%

-19.0%

51.6%

23.4%

6.5x

3.1x

10.6%

15.4%

1,345.00

0.6%

9.0%

-9.4%

-8.8%

105.8%

29.7%

22.3x

23.2x

4.3%

4.5%

52.50

0.0%

4.5%

-38.6%

-33.0%

8.5%

3.8%

29.0x

2.5x

4.7%

3.5%

5.50

0.0%

4.5%

-30.8%

-31.3%

9.4%

1.0%

4.0x

0.4x

4.7%

24.9%

14.95

-9.9%

4.2%

-22.9%

-22.9%

5.8%

5.4%

5.9x

0.6x

2.7%

16.8%

6.20

1.6%

4.3%

-19.5%

-20.5%

15.5%

1.7%

2.6x

0.4x

13.7%

38.0%

25.1%

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

12.60

0.0%

1.8%

-58.7%

-60.0%

-23.2%

-2.3%

556.60

10.0%

3.8%

-13.0%

-13.0%

13.7%

8.7%

4.0x

0.5x

3.2%

11 Access Bank PLC

7.65

-0.6%

4.7%

12.5%

17.7%

22.8%

2.2%

1.9x

0.5x

6.5%

12 Ecobank Transnational Inc

8.90

0.0%

2.2%

-36.4%

-37.8%

15.9%

1.1%

2.5x

0.4x

10 SEPLAT Petroleum Development C

3.8x

-7.2%

51.4% 39.8%

13 Stanbic IBTC Holdings PLC

38.00

-3.3%

2.6%

-20.8%

-20.8%

28.0%

4.4%

6.0x

1.5x

5.3%

14 Unilever Nigeria PLC

29.00

0.0%

2.3%

-21.6%

-21.6%

12.2%

7.5%

17.6x

2.1x

5.3%

ƵŶŝƚƐͿ ĂŶĚ & E, ;ϳϯ͘ϲŵ ƵŶŝƚƐͿ ǁŚŝůĞ E/' Z/ E

15 Lafarge Africa PLC

16.00

6.7%

2.6%

28.5%

33.3%

2.1%

0.7%

16 Guinness Nigeria PLC

34.00

-1.3%

Z t Z/ ^ ;Eϲ͘ϮďŶͿ͕ E ^d> ;Eϭ͘ϴďŶͿ ĂŶĚ ^^

0.8%

-52.8%

-52.8%

6.2%

3.5%

13.6x

0.8x

4.5%

17 Okomu Oil Palm PLC

54.95

0.0%

1.1%

-27.9%

-27.9%

18.2%

13.5%

10.3x

1.9x

5.8%

9.7%

18 Total Nigeria PLC

120.00

9.1%

0.9%

-40.9%

-40.9%

9.2%

1.8%

16.0x

1.6x

14.2%

6.2%

19 11 PLC

153.50

0.0%

1.3%

-17.3%

-17.3%

24.8%

10.9%

6.9x

1.6x

5.4%

14.6%

14.00

0.0%

0.9%

-39.4%

-36.9%

3.1%

1.1%

12.3x

0.4x

8.6%

3.85

1.3%

1.1%

-23.0%

-19.8%

14.3%

2.5%

1.7x

0.2x

^^ ;Ϯϭϳ͘ϲŵ ƵŶŝƚƐͿ͕ E/' Z/ E Z t Z/ ^ ;ϭϭϴ͘Ϭŵ

;Eϭ͘ϲďŶͿ ůĞĚ ďLJ ǀĂůƵĞ͘

20 Flour Mills of Nigeria PLC 21 Oando PLC

dŚĞ ĮƌƐƚ ƚŚƌĞĞ ƚƌĂĚŝŶŐ ĚĂLJƐ ŽĨ ƚŚĞ ǁĞĞŬ ĞŶĚĞĚ ďĞĂƌŝƐŚ ĂƐ

ƚŚĞ ^/ ĨĞůů Ϭ͘Ϯй͕ ϭ͘ϭй ĂŶĚ Ϭ͘ϯй ƌĞƐƉĞĐƟǀĞůLJ͘

1.1x

16.7% 5.7% -0.1% 7.4%

8.1% 57.2%

22 Fidelity Bank PLC

1.70

2.4%

1.1%

-16.3%

-16.3%

12.4%

1.4%

2.0x

0.2x

6.5%

50.3%

23 Transnational Corp of Nigeria

1.02

0.0%

0.9%

-22.7%

-20.9%

14.2%

3.2%

4.4x

0.6x

3.0%

22.9%

24 Dangote Sugar Refinery PLC

10.90

0.0%

0.8%

-28.5%

-26.4%

20.7%

11.4%

6.4x

1.3x

10.1%

15.7%

1.9x

25 Diamond Bank PLC

,ŽǁĞǀĞƌ͕ ŽŶ dŚƵƌƐĚĂLJ ĂŶĚ &ƌŝĚĂLJ͕ ƚŚĞ ŵĂƌŬĞƚ ŐĂŝŶĞĚ ϭϬϵďƉƐ ĂŶĚ ϯϱďƉƐ ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ E ^d> ͕ ^ W> d͕ ^^͕ /Zd > &Z/ ĂŶĚ t W K͘

26 FCMB Group Plc

1.63

1.9%

0.7%

-13.8%

-9.4%

9.2%

1.2%

27 UAC of Nigeria PLC

7.65

0.0%

0.5%

-21.5%

-19.9%

-6.9%

-3.3%

0.2x

8.6%

51.7%

0.4x

8.6%

-24.1%

2.00

0.0%

0.6%

5.3%

5.3%

8.1%

0.8%

6.6x

0.5x

29 Presco PLC

40.35

0.0%

0.3%

-37.0%

-37.0%

7.3%

4.6%

12.0x

1.5x

5.0%

8.3%

30 NASCON Allied Industries PLC

13.70

2.2%

0.3%

-23.9%

-23.9%

35.9%

12.1%

9.9x

3.4x

7.3%

10.1%

31 Forte Oil PLC

28 Sterling Bank PLC

15.80

0.0%

0.2%

-42.5%

-43.6%

48.9%

7.4%

2.5x

1.2x

32 Union Bank of Nigeria PLC

7.00

0.0%

^ĞĐƚŽƌ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ůĂƌŐĞůLJ ďƵůůŝƐŚ ĂƐ ϰ ŽĨ ϲ ŝŶĚŝĐĞƐ

0.5%

25.0%

25.0%

7.0%

1.1%

11.3x

0.9x

33 Julius Berger Nigeria PLC

18.55

0.0%

0.3%

-7.7%

-16.1%

21.8%

2.5%

3.4x

0.7x

ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ ŐĂŝŶĞĚ t-o-t͘ 'ĂŝŶƐ ŝŶ ^ W> d

35 Chemical and Allied Products P

117.5%

38.3%

;нϮϭ͘ϬйͿ͕ dKd > ;нϮϬ͘ϬйͿ͕ E ^d> ;нϭϭ͘ϭйͿ ĂŶĚ /Ed Z t ;нϱ͘ϬйͿ ďƵŽLJĞĚ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚŝĐĞƐ ƵƉ ϭϭ͘ϲй ĂŶĚ ϱ͘Ϭй ƌĞƐƉĞĐƟǀĞůLJ t-o-t͘

34 PZ Cussons Nigeria PLC

KEd/E^hZ ;нϮϬ͘ϰйͿ͕ E D ;нϳ͘ϬйͿ͕ /Zd > &Z/ ;нϴ͘ϲйͿ ĂŶĚ E Z ;нϭϬ͘ϬйͿ͘ KŶ ƚŚĞ ŇŝƉ ƐŝĚĞ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů ĂŶĚ ĂŶŬŝŶŐ ŝŶĚŝĐĞƐ ůŽƐƚ ϭ͘ϴй ĂŶĚ ϭ͘ϲй t-o-t ƌĞƐƉĞĐƟǀĞůLJ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŝĐĞ ĚĞƉƌĞĐŝĂƟŽŶ ŝŶ EE (ϵ͘ϵйͿ͕ ^d E / (-ϭϭ͘ϯйͿ ĂŶĚ ^d Z>/E' (-ϴ͘ϯйͿ͘

ŐĂŝŶĞĚ ĂŐĂŝŶƐƚ ϰϬ ƚŚĂƚ ůŽƐƚ͘ ^ W> d

;нϮϭ͘ϬйͿ͕

KEd/E^hZ ;нϮϬ͘ϰйͿ ĂŶĚ dKd > ;нϮϬ͘ϬйͿ ůĞĚ ƚŚĞ ŐĂŝŶĞƌƐ ǁŚŝůĞ > ZE &Z/ (-ϭϵ͘ϰйͿ͕ h WZKW (ϭϴ͘ϯйͿ ĂŶĚ EW&D Z& (-ϭϮ͘ϬйͿ ůĞĚ ůŽƐĞƌƐ͘ tĞ ďĞůŝĞǀĞ ƚŚĞ ďĞĂƌŝƐŚ ƐĞŶƟŵĞŶƚ ŝŶ ƚŚĞ ŵĂƌŬĞƚ ǁŽƵůĚ ƉĞƌƐŝƐƚ ĂƐ ŝŶǀĞƐƚŽƌƐ ŵĂŝŶƚĂŝŶ Ă ƌŝƐŬ-Žī ĂƉƉƌŽĂĐŚ ƚŽǁĂƌĚƐ ĞƋƵŝƟĞƐ͘

Afrinvest West Africa Limited

0.2%

-42.1%

-43.1%

0.2%

-33.3%

-33.3%

8.9% 10.8%

29.5%

27.5x

0.7x

2.1%

3.6%

8.2x

9.9x

12.5%

12.2%

0.61

0.0%

0.2%

-3.2%

-3.2%

7.8%

0.7%

5.9x

0.5x

4.9%

17.0%

37 Beta Glass PLC

59.75

0.0%

0.2%

-12.5%

-12.5%

16.8%

11.3%

6.0x

0.9x

2.4%

16.7%

38 Dangote Flour Mills Plc

22.40

0.9%

0.6%

227.0%

239.4%

-30.8%

-9.1%

39 Transcorp Hotels Plc

5.40

0.0%

0.1%

-11.5%

-11.5%

5.1%

2.6%

14.3x

0.7x

40 AXA Mansard Insurance PLC

1.70

0.0%

0.1%

-7.1%

-7.1%

9.4%

2.6%

8.6x

0.8x

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

Vo lum e

P ric e C hg %

A C C ESS

68.3

-0.6%

T R A N SC OR P

25.0

0.0%

GUA R A N T Y

22.1

3.9x

-9.4% 3.0%

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

P ric e

P ric e C hg %

SEP LA T

556.60

10.0%

T OT A L

120.00

9.1%

-1.3%

A IR T ELA F R I

308.00

8.6%

13.1

0.0%

WA P C O

16.00

6.7%

FB NH

11.0

0.0%

CHA M S

0.24

4.3%

ST A N B IC

4.8

-3.3%

F ID ELIT YB K

WA P IC

3.9

-2.9%

N A SC ON

ST ER LN B A N K

3.8

0.0%

FCM B

1.63

1.9%

Z EN IT H B A N K

3.7

0.8%

UB A

6.20

1.6%

UB A

3.5

1.6%

OA N D O

3.85

1.3%

T o p 10 T r a d e s b y V a l u e T ic k er

1.70

2.4%

13.70

2.2%

T o p 10 L o s e r s

P ric e C hg %

T ic k er

P ric e

P ric e C hg %

613.1

-1.3%

CCNN

14.95

-9.9%

A C C ESS

544.6

-0.6%

LEA R N A F R C A

1.12

-9.7% -9.7%

GUA R A N T Y

Value

7.0% 11.6%

WEM A B A N K

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ǁĞĂŬĞŶĞĚ ĂƐ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ĚĞĐůŝŶĞĚ ƚŽ Ϭ͘ϱdž ĂƐ ϮϬ ƟĐŬĞƌƐ

0.0% 0.0%

40.8%

36 Wema Bank PLC

dŚĞ /ŶƐƵƌĂŶĐĞ ĂŶĚ &Z-/ d ŝŶĚŝĐĞƐ ĂůƐŽ ĂĚǀĂŶĐĞĚ ϯ͘Ϭй ĂŶĚ ϭ͘ϰй ƌĞƐƉĞĐƟǀĞůLJ ĨŽůůŽǁŝŶŐ ďƵLJŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ

7.00 23.25

15.2%

N EST LE

206.5

0.6%

NA HCO

2.34

ST A N B IC

182.6

-3.3%

C H IP LC

0.30

-9.1%

M TNN

102.6

-1.4%

C OR N ER ST

0.42

-8.7%

NB

101.0

0.0%

UN IT YB N K

0.63

-7.4%

Z EN IT H B A N K

69.2

0.8%

C UT IX

1.60

-5.9%

FB NH

59.9

0.0%

A IIC O

0.65

-4.4%

SEP LA T

29.3

10.0%

ST A N B IC

38.00

-3.3%

T R A N SC OR P

25.1

0.0%

WA P IC

0.34

-2.9%

Brokerage

Asset Management

Investment Research

Ayodeji Ebo | aebo@afrinvest.com

Ola Belgore | obelgore@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Adedoyin Allen | aallen@afrinvest.com Oluwarotimi Ashimi | oashimi@afrinvest.com

Adedayo Bakare | abakare@afrinvest.com

37

MONDAY, SEPTEMBER 30, 2019 ˾ T H I S D AY

MARKET NEWS

NIPCO Records N1.58bn Profit after Tax, Expands LPG market Share Goddy Egene Leading downstream oil company, NIPCO Plc, posted N254 billion turnover and a profit after tax (PAT) of N1.58 billion for 2018 financial year just as it deepened its petroleum products outlets expansion and doubled its Liquefied Petroleum

Gas (LPG) market share in Nigeria. Chairman of NIPCO Plc, Chief Bestman Anekwe, stated this at 15th annual general meeting (AGM) of the company in Abuja. Based on the performance, the Board of Directors, proposed a total dividend of N563 million translating into 300 kobo per

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

cent per share ,which was unanimously approved by the shareholders. Anekwe said that improved performance was recorded in the face of the difficult environment, which had prevailed in the sector in the last few years. He said NIPCO Plc had maintained its culture of

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 26Sep-2019, unless otherwise stated.

outstanding performance and industry leadership by pursuing its major objectives. “We are yet improving on our core competencies and remain committed to our vision of being the first choice company in the oil & gas industry to all stakeholders. We have maintained a constant

expansion of our retail outlets and furthermore our company has maintained the lead in the LPG subsector by doubling the number of LPG skids and plants all over the country,” he said. He explained that their strategy and approach in venturing into the upstream sector hopefully would give

the company a competitive advantage to explore even new frontiers in the business environment. Also speaking at the AGM, Managing Director of the company, Mr. Sanjay Teotia, said conscious efforts have been put in place in preparation for the take off of the LPG production.

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: D Yield / Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 142.30 144.24 -9.55% Afrinvest Plutus Fund 100.00 100.00 12.80% Nigeria International Debt Fund 272.39 272.39 -0.30% 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 0.88 0.89 4.45% ACAP Income Funds 0.77 0.77 35.16% 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 12.35% AIICO Balanced Fund 2.37 2.41 7.00% 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 14.45 14.88 -12.91% ARM Discovery Fund 331.92 341.93 -6.93% ARM Ethical Fund 28.17 29.02 -0.23% ARM Money Market Fund 1.00 1.00 12.39% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 93.36 94.02 -7.74% AXA Mansard Money Market Fund 1.00 1.00 0.00% 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 1.86 1.86 10.92% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 13.61% Paramount Equity Fund 12.15 12.26 2.91% Women's Investment Fund 108.56 109.29 4.86% 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 11.96% Cordros Milestone Fund 2023 96.05 96.76 Cordros Milestone Fund 2028 96.98 97.86 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 12.18% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 12.07% EDC Nigeria Fixed Income Fund 1,111.33 1,117.76 11.82% 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 1,244.81 1,245.59 11.22% FBN BALANCED FUND 140.46 141.39 -1.62% FBN Money Market Fund 100.00 100.00 12.46% FBN Nigeria Eurobond (USD) Fund - Institutional N/A N/A N/A FBN Nigeria Eurobond (USD) Fund - Retail N/A N/A N/A FBN Nigeria Smart Beta Equity Fund N/A N/A N/A FIRST CITY ASSET MANAGEMENT LTD fcamhelpdesk@fcmb.com Web: www.fcamltd.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 10.72% Legacy Debt Fund 3.54 3.54 9.18% Legacy Equity Fund 1.06 1.08 -13.29% Legacy USD Bond Fund 1.07 1.07 3.80% 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 3,011.47 3,042.87 0.93% Coral Income Fund 3,009.54 3,009.54 9.82% FSDH Treasury Bills Fund 100.00 100.00 12.55% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 11.21% Nigeria Entertainment Fund 111.03 112.07 2.91% 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 10.00 10.00 12.37%

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 11.72% Vantage Balanced Fund 2.16 2.19 0.28% Vantage Guaranteed Income Fund 1.00 1.00 15.80% Kedari Investment Fund (KIF) 129.04 128.83 3.13% 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 1.17 1.19 6.30% Lotus Halal Fixed Income Fund 1,122.39 1,122.39 9.97% 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 9.91 9.99 -7.39% Meristem Money Market Fund 10.00 10.00 11.12% 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 1.29 1.31 4.98% PACAM Fixed Income Fund 11.99 12.04 7.32% PACAM Money Market Fund 10.00 10.00 12.16% 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 123.06 123.12 1.72% 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 1.03 1.03 10.45% 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 2,369.37 2,380.78 2.34% Stanbic IBTC Bond Fund 205.30 205.30 7.97% Stanbic IBTC Ethical Fund 0.84 0.85 -11.05% Stanbic IBTC Guaranteed Investment Fund 267.06 267.17 10.09% Stanbic IBTC Iman Fund 147.00 148.62 -9.90% Stanbic IBTC Money Market Fund 100.00 100.00 11.94% Stanbic IBTC Nigerian Equity Fund 7,569.30 7,651.44 -10.88% Stanbic IBTC Dollar Fund (USD) 1.14 1.14 5.62% Stanbic IBTC Shariah Fixed Income Fund 100.65 100.65 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 N/A N/A N/A United Capital Bond Fund N/A N/A N/A United Capital Equity Fund N/A N/A N/A United Capital Money Market Fund N/A N/A N/A United Capital Eurobond Fund N/A N/A N/A United Capital Wealth for Women Fund N/A N/A N/A QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 9.97 10.14 -6.11% Zenith Ethical Fund 11.22 11.39 -6.61% Zenith Income Fund 22.31 22.31 10.38% Zenith Money Market Fund 1.00 1.00 11.82%

REITS NAV Per Share

Yield / T-Rtn

5.40 117.09 53.10

-44.85% 5.40% 2.63%

Bid Price

Offer Price

Yield / T-Rtn

8.45 87.77 70.89

8.55 89.67 72.25

-15.09% -25.16% -20.02%

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

3.37 5.55 12.02 10.73 148.86

3.41 5.63 12.12 10.93 150.86

-15.64% -27.07% -17.75% -13.06% 12.68%

NAV Per Share

Yield / T-Rtn

108.34

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.

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T H I S D AY Ëž ÍąÍŽËœ Ͱ͎ͯ͡

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 ͙͖͓͓͖͓͔͓͖͑͒

Niger's Highways of Sorrows and Death Laleye Dipo writes on the trauma travellers go through while traveling on major highways that traverse Niger State, which has earned it the sobriquet ‘highways of sorrows and death’

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raveling through the major roads in Niger state one needs prayer and fasting to arrive at their destination in one piece and in good time. The situation may even be worse in the rainy season like we are in now when most of the trunk A roads have become impassable. Though the Federal Road Safety Corps (FRSC) has often blamed accidents on bad driving, lack of respect for road signs and driving codes on the part of drivers, as well as the use of unserviceable vehicles, the real cause of accidents on these roads is mostly their terribly bad state. This year alone, not less than 32 lives have been lost to accidents on the Minna- Bida road. In one case, 17 lives were lost. The statistics for other road networks are higher even as more than 15 lives were lost in one accident on the Bida - Mokwa road early in the year. The recent accident at the Dikko junction where seven lives were lost and several others injured also recorded 19 vehicles and 35 shops burnt as a result of tanker explosion, which can also be partly blamed on the bad condition of the road where the tanker laden with PMS was to park. Apart from loss of human lives occasioned by accidents on these roads, there is also the negative effect the situation has on the economy of the state. The gridlocks caused by heavy duty vehicles including tankers and trailers ensure commuters waste valuable manhour because they are always on the road for several hours. In recent time, between Paiko and Farindoki towns, a distance of less than 30 kilometers, travelers had to spend close to two hours because of broken down or overturned tankers and trailers that blocked a portion of this road. There was even a report that Governor Abubakar Sani Bello, who was going to Abuja from Minna by road, had to make a detour when not less than 200 trailers and tankers going in the same direction blocked the road because of its bad condition and refusal of the utility vehicle drivers to give way for each other at collapsed portions of the road. Suffice it to say that the state is the gateway between the North and the southern parts of the country as a result movements of vehicles to and fro both through this axis is always very heavy. It is pertinent to also note that Niger State with the largest land mass in the country has cumulatively put together the longest stretch of federal roads in the country when compared to other states. Some of the federal Trunk A roads that traverse the state include the Makera -Tegina road which has been in the worst state of disrepair since 2017, the Minna- Suleja Road, the MinnaZungeru-Tegina -Pandogari road as well as the Mokwa -Jebba, the Lapai - Lambata - Bida , Kontagora- Yauri road, the Minna- Bida road as well as the Kontagora- Rijau road. Sadly all these roads are owned by the federal government who has out of sheer negligence allowed them to deteriorate to the level they presently are. The state government especially since 2015 when the administration of governor Abubakar Sani Bello came on board had made series of pleas to the federal government to intervene in the reconstruction of these roads but if not until a recent federal executive council meeting, no serious action has been made to address the complaints of the governor. Even the planned intervention of the federal government will not affect the critical roads that have become nightmares to motorists. For instance within the first 100 days in office of Bello, the government was reported to have intervened by rehabilitating the Tegina -Kagara road, maintained the Minna-Zungeru-Tegina road as well as carried out repairs of the Minna-Kakaki-Lambata-Suleja road, thereby spending huge amount of money in the process. The most unfortunate aspect of this is that no sooner that these roads were repaired that they collapse again because of the huge number of vehicles plying them with most of these vehicles carrying goods beyond the capacity

Gridlock on the Minna - Suleja Road

Collapsed portion of the Minna - Bida road and weight the road can take. It is said by experts that some tankers carrying fuel that are supposed to carry 30,000 litres now ferry between 45,000 and 60,000 litres while other utility vehicles load more that 45 tonnes with negative effects on the roads not constructed to carry such heavy load. The sorry state of these roads has become more pronounced during this rainy season. For instance in the last two months it takes a traveler over two hours to journey from Minna to Suleja, a distance of just 85 kilometers. The state governor at a recent stakeholders meeting further lamented the sorry state of these federal roads. "On the poor state of some federal roads network in the state, which is necessitating us to spend huge resources amounting to over N2 billion on their maintenance in order to ease vehicular movements, we need

the public to understand our predicament of paucity of funds; however, we are determined to seek possible ways of managing the situation until the rains recede when work will start on complete overhaul of the roads�, Bello said. A coalition of youth groups in the state have also raised their voices against the dilapidation of these federal roads and government’s seeming insensitivity to the issue " despite the fact that we as a state contributed towards enthroning the APC federal government in 2015 and in 2019". Mohammed Saidu Etsu who serves as spokesman for the youths declared their readiness to " match on to the Federal Ministry of Works Abuja if within a reasonable time nothing is done to ameliorate the situation". Etsu alleged at a recent media briefing that "sabotage" could be responsible for the bad

state of all federal roads in the state because of lack of funding of some of the projects which contracts have been awarded giving the Mokwa- Bokani- Makera project where the bridge and a reasonable portion of the road collapsed since 2017. "The contract for the repair was awarded but as we talk to you, the job has not been done because of lack of funding.� The collapse of this particular road has further put more pressure on other roads passing through the state because motorists have to abandon them for the fairly good ones. The Niger State Coordinator of the Campaign for Democracy (CD), Alhaji Abdullahi Jabi also commenting on the state of these roads especially the Minna -Suleja axis declared: “the condition of these roads are pitiable and regrettable resulting in a lot of carnages casualties and loss of manhour". Jabi further noted that “these roads need complete reconstruction as urgently as possible because it is the gateway between Niger state and the FCT, Northwest and other parts of the country. Injury to this road is injury to every part of the country". While the state government awaits serious action from the federal government to tackle this problem, it has however taken emergency steps to save the remaining portion of the roads with its plan to check the movement of overweight vehicles through the state. Bello however assured motorists and the people of the state that his administration will continue to find solution to the problem. "In the interim, we will continue to work on the failed portions of Minna-Suleja and Minna-Bida roads. Although, most of the federal routes in the state are in very deplorable conditions having been constructed some 35 years ago, they have outlived their life span and perhaps, beyond palliative maintenance, the state government will continue to make sure that the roads are usable. “We have also given directives to the appropriate agencies to ensure strict compliance of tonnage of heavy-duty vehicles plying our roads,� Bello told a recent stakeholders forum made up of politicians, traditional rulers members of civil society groups and the academia in Minna. However, one of the planned step by government may create another crisis because some commercial vehicle drivers will flagrantly disobey the law and this will cause serious crisis of unimaginable proportion for the state and those who will see to the implementation of the policy.

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CRIME&SECURITY

L-R: Founder, Chukwuma Nwokocha Ministries, Pastor Chukwuma Nwokocha; The Nation Newspaper Senior Correspondent, Precious Igbonwelundu who won the Best Investigative Crime and Defence Reporter in West and Central Africa; and OC SARS, CSP Peter Gana, all award recipients of the 16th Africa Security Watch Awards organised by the President/CEO Security Watch Africa Initiatives, Patrick Agbambu (second left), billed to hold in November 6-7, in Dubai

THISDAY Reporter Wins Best Investigative Crime Award in Nigeria Chiamaka Ozulumba

and the Chairman Board of Trustees, SWA, General Joseph Nnuoo-Mensah (Rtd), the reporter emerged winner of the category “after a meticulous assessment of official and personal drive in support of crime fighting and provision security and safety, through deep-rooted investigative journalism in Nigeria�. Ehigiator, alongside three others from different media organisations across Africa, was in August, nominated for two categories of the awards; ‘Best Investigative Crime Reporter in Nigeria

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rime and investigative reporter with THISDAY Newspaper, Sunday Ehigiator has been announced the winner of the ‘Best Investigative Crime Reporter in Nigeria (Print)’ category for the forthcoming Africa Security Watch Awards (SWA), scheduled to hold in Dubai from November 6 to 7, 2019. According to a statement jointly signed by the International Coordinator and CEO of SWA, Patrick Agbambu,

Ehigiator

(Print)’ and ‘Best Investigative Crime Reporter in West Africa and Central Africa (Print)’ categories respectively. He eventually beat his contenders to winning the ‘Best Investigative Crime Reporter in Nigeria (Print)’. The statement further read that “the award conferment will be done at the 16th Africa Security Watch Awards, conference and exhibition scheduled to hold in November 6 and 7, 2019, at the Radisson Blu Hotel, Dubai deira Creek, United Arab Emirate.

RULAAC Condemns Bail Money, Advocates Proper Funding of Police Sunday Ehigiator

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he Rule of Law and Accountability Advocacy Centre (RULAAC) has condemned the act of receiving money from suspects by police officers, during bail application. This is just as they called on the federal government to provide adequate funding for the police as panacea for bail money collection. The Executive Director, RULAAC, Okechukwu Nwagwuma said this during a oneday civil society organisation/ media engagement themed, ‘Nigeria Police Force (NPF) Bail Process and Citizens Rights’ recently organised by RULAAC in Lagos state, in partnership with the Nigeria Policing Program (NPP). Nwanguma said the engagement was aimed at increasing public awareness on the NPF bail process, to clarify the rights of citizens, powers and duties of the police under the law. According to him, “if we do not address the root cause of corruption, which includes poor funding, welfare and equipping the police, ‘bail is free’ may only be a clichĂŠ. “You do not expect Divisional Police Officers (DPO’s), Area Commanders (AC’s) to use their salaries to run their stations.

Participants during the one-day Civil Society Organisations media engagement

Divisions run on zero budgets. This is affecting the liberty of Nigerians as bail money collection is being used as a justification to run the station. “There is no justification to deny people their liberty. The government should properly fund the police and the money should be judiciously used.� Also speaking at the event,

the President, Committee for the Defense of Human Rights (CDHR), Barr Malachy Ugwummadu said though the police may be underfunded, however, it is no justification to collect money for bail as the law of the land stipulates free bail. According to him, “I am not supporting legalising bail

money as a way of raising funds for the police. Underfunding the police should not be transferred to members of the public.� Also speaking, the Executive Director, International Centre for Human Rights Nonviolence and Safety Awareness, Barr Sarah Unobe, posited that judicial corruption on bail would

fuel bail money collection by the police. According to her, “Some people prefer to give bail money to the police rather than giving the bail money in court which is usually tedious. The court collects more money from suspects in the name of the bail condition. “Many people are inside different prisons today due to lack of capacity to meet bail conditions. Those in authorities should look into the court bail money.� Also commenting on the issue of bail, senior police officers at the event blamed lawyers and the government for bail money collection. According to them, “officers at the stations print the bail papers, arrest warrant, and any other document required to run a police station. We use our money to go to court to prosecute suspects, give money to prisons officials to convey suspects to prison and pay court clerks. “Also, on some occasions, lawyers collect money from their clients and they lie that they will give such money to the police for bail.� They however reinstate their commitment towards ensuring the eradication of paying for bail in the policing system, and thereby called on the support of all arms of the government.

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MONDAY SEPTEMBER 30, 2019 • T H I S D AY

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MONDAY SEPTEMBER 30, 2019 Ëž T H I S D AY

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INTERNATIONAL

Impeachment: Trump Faces Threat Like No Other From the moment Donald Trump became a national political figure, he has been shadowed by investigations and controversy. They have been layered, lengthy and often inconclusive, leaving many Americans scandal-weary and numb to his behaviour. And with each charge against him, Trump has perfected the art of deflection, seemingly gaining strength by bullying and belittling those who have dared to take him on. Now Trump is facing a high-velocity threat like none he’s confronted before. It has rapidly evolved from a process fight over a whistleblower complaint to an impeachment inquiry within two weeks. Much of the evidence is already in public view. A rough transcript of a phone call in which Trump asks Ukraine’s president to help investigate Democratic rival Joe Biden. The whistleblower’s detailed letter alleging the White House tried to cover up the call, and possibly others. Unlike special counsel Robert Mueller’s two-year investigation, which circled an array of people in Trump’s orbit but not always the president himself, Trump doesn’t have the benefit of distance. His words and his actions are at the centre of this investigation. “The Mueller report , it was always Manafort this and his son that. There was a cascade of players,� said presidential historian Douglas Brinkley, referring to former Trump campaign chairman Paul Manafort and Donald Trump Jr. “This was just Donald Trump and a disturbing conversation with another world leader.� So, suddenly, Washington is different and the history of Trump’s presidency has changed. By year’s end, he could become only the third American president impeached by the House of Representatives. That new reality caught Trump and his advisers off guard, according to people close to the president. If anything, they thought the specter of impeachment had been lifted after the Mueller investigation ended without a clear determination that Trump had committed a crime. The contours of that investigation played to Trump’s strengths. Mueller spent two years in silence, allowing the president to fill the vacuum with assertions that the investigation was a “hoax� and a “witch hunt.� The details of the investigation that did leak out were often complicated and focused on people in Trump’s sphere. Even Mueller’s pointed statement that he had not

Trump

exonerated Trump did not seem to stick. There was ultimately plenty of smoke, but no smoking gun. Numerous other Democratic inquiries appeared likely to meet a similar fate, including House investigation into Trump’s business dealings, his tax returns and a variety of administration scandals. For many Americans, they were one big blur of investigations without any clarity of purpose. Then the whistleblower gave the Democrats what they needed: a simple, easily explainable charge — that the president sought a foreign government’s help for personal political gain — and his words to back it up. For House Speaker Nancy Pelosi (D-Calif), and several Democratic moderates who had resisted calls for impeachment, the calculus shifted. It was now more of a risk to recoil from impeachment than charge ahead. “What we’re seeing right now is a

completely different moment in the history of this country,� said Rep. Debbie Mucarsel-Powell, D-Fla. One thing that didn’t change — at least not immediately — was the clear partisan divide over Trump’s actions, both in Washington and across the country. According to a one-day NPR/PBS NewsHour/Marist poll conducted Wednesday, 49% of Americans approve of the House formally starting an impeachment inquiry into Trump. Among Democrats, 88% approve of the investigation, while 93% of Republicans disapprove. Mike Staffieri, a retiree and Republican who lives just outside of Richmond, Virginia, said Democrats were trying to “throw enough poop at the wall and hope something sticks.� On Capitol Hill, some Trump allies concurred, confidently dismissing the impeachment inquiry as just another partisan effort to take down a president who is despised by many Democrats. That rough

France Bids Farewell to Ex-President Chirac Thousands of people on Sunday queued in Paris to bid a final farewell to France’s former president Jacques Chirac, fondly remembered as a charismatic giant of domestic and international politics despite a mixed legacy. A massive queue snaked round the Invalides complex to pay homage at Chirac’s coffin ahead of a national day of mourning on Monday and a memorial service expected to be attended by dozens of world leaders. Chirac’s death on Thursday aged 86 prompted a flood of tributes to a man whose high-profile political career spanned three decades capped by 12 years as president from 1995-2007. But it also sparked questions about how much this consummate political operator had actually achieved during a long spell in office and again threw the spotlight on a 2011 conviction for graft over his time as Paris mayor. Nevertheless, a poll in Le Journal du Dimanche newspaper showed that the French consider him to have been their best president of the modern era, alongside

Charles de Gaulle. An initial multi-faith prayer was held around the coffin in the Saint-Louis-des-Invalides cathedral at the Invalides memorial complex with close family, including his daughter Claude. His wife of six decades Bernadette, 86, was however not present. Members of the public were then allowed in to view the coffin, draped in a French flag and flanked by a picture of a waving Chirac. Thousands lined up in a queue that wound around the Invalides complex for almost one kilometre, braving rainy weather and the prospect of a long wait. Allowed to enter in small groups, some crossed themselves while others took photos and even selfies. “Chirac represented a certain era,� said Marin Menzin, 21. “If he had seen the queue today, he would have jumped into the crowd to shake hands.� The French presidency had since Thursday night thrown open the doors of the Elysee Palace for anyone wanting to write in condolence books. By the time the doors

shut on Saturday evening, 5,000 people had done so. The national day of mourning in France Monday will see a minute of silence observed in all public institutions and schools. The coffin of Chirac will at 0900 GMT Monday leave the Invalides, under a military escort through the streets of Paris, before arriving at the Saint-Sulpice church for a final memorial service attended by President Emmanuel Macron. The Elysee said some 30 heads of state and government are expected to be present, including Russian President Vladimir Putin, Hungarian Premier Viktor Orban and German President Frank-Walter Steinmeier. Former leaders who worked closely with Chirac, notably including German ex-chancellor Gerhard Schroeder, will also be there. Chirac’s successors Nicolas Sarkozy and Francois Hollande, will attend, the Elysee said. France’s current political class will all be there, including far-right leader Marine Le Pen, whose father and former far-right chief Jean-Marie Le Pen made no secret of his enmity for Chirac.

transcript of a phone call in which Trump presses Ukraine’s president, Volodymyr Zelenskiy, to work with Attorney General William Barr and personal lawyer Rudy Giuliani on an investigation into Biden? It’s just Trump being Trump, according to his backers. “You’ve heard President Trump talk. That’s President Trump,� said Sen. Ron Johnson, R-Wis. Mark Updegrove, a presidential historian and president of the LBJ Foundation in Austin, Texas, said it’s that enduring support from Republican lawmakers that currently separates Trump from Richard Nixon, who resigned in the midst of the Watergate impeachment inquiry because his party began to abandon him. “The big difference between this and Watergate is that you had both Republicans and Democrats being deeply concerned about the president being involved in criminal wrongdoing,� Updegrove said. “It was a bipartisan effort and you certainly don’t have that here.� But it is early, compared with Watergate. There were small signs that some Republicans were trying to keep some measure of distance from the president. Some GOP lawmakers fled Washington for a fall break claiming they hadn’t yet read the whistleblower’s complaint. Others said they were open to learning more about the situation. Trump’s hold on the Republican Party makes it nearly impossible to foresee a scenario in which the GOPcontrolled Senate convicts Trump if he were impeached by the Democratic-run House. The president is acutely well aware that it’s his party alone that can protect him. In the midst of the past week’s firestorm, he tweeted to Republicans: “Stick together, play their game and fight hard Republicans.� He later deleted the tweet. t $VMMFE GSPN :BIPP

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NEWS

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

Nigeria will Overcome Challenges, Say Gowon, Osinbajo Olawale Ajimotokan in Abuja A former Head of State Gen. Yakubu Gowon (rtd) and Vice President Yemi Osinbajo have stated that Nigeria will overcome its challenges and fulfill its destiny by becoming a great nation. They also asked Nigerians to support their leaders by working for the peace, unity and progress of the country. Gowon and Osinbajo delivered the message yesterday during the Independence Day Interdenominational Church Service at the National Christian Centre, Abuja. Gowon appealed to Nigerians not to be discouraged, saying the country is at the threshold of a breakthrough and the dawn of history. He said under the peoples’ collective watch and prayer, Nigeria shall recover and rise again. He remarked that in the midst of the various challenges faced by the country, Nigerians can still come together in the unity of faith to salvage the nation from its woes. “I believe Nigeria is specially favoured by God and I am confident that God who preserved it in the past will do it again if only we can continue to fervently pray and do what is right and good before Him and fellowmen and women,”Gowon said. The elder statesman noted that Nigerians must pray, saying that prayer is the key that will salvage their personal, family and national challenges. He also acknowledged the commitment of the members of the security forces in ensuring law and order, peace and stability in the country and asked them to resolve to do more to ensure the stability of the country. “I congratulate Buhari and Nigerians on the attainment of Nigeria’s 59th independence anniversary. I pray that God will preserve the country and help her fulfill and achieve her

prophetic destiny. “For the police, army and other security agencies, this is the charge; you have to make sure that by the next independence celebration, there is no disorder in this country. I strongly believe there is hope for our great nation through our collective prayers, hard work, selfless and transparent leadership, and patriotic citizenry. By the grace of God, Nigeria shall fulfill her destiny. We should not be discourage, we are at the threshold of a breakthrough and the dawn of history. Under our collective watch and prayer, Nigeria shall recover and rise again”. While delivering his message, Osinbajo said God is ready to take Nigerians to the promised land. The vice president, who quoted some verses in the Psalms to support his message, said God is the builder of the nation and also controls the destiny of nations and its people. “God has also promised us a new Nigeria, a peaceful Nigeria, a prosperous Nigeria, a Nigeria where justice, equity and fairness shall prevail – a united Nigeria, where the different tribes and tongues are not the reason for separation, but a joyful textures of our togetherness. God is ready to fulfill his promise. “We stand outside a new city, a promised land, a new Nigeria and like the spies sent by Moses, some are saying it is impossible, Nigeria cannot change, the ethnic and religious divisions are too deep, corruption cannot end, politicians are too selfish, too mischievous. Yet like Caleb and Joshua, if we, declare that these problems are merely bread for us, a new Nigeria is here. And each and every one of us, our families our friends, all of us will eat the fruits of the land. God Almighty has taken away the protection of the enemies of this nation, he has taken away their powers, the noise we hear, the turbulence that we experience,

Detained Nigerian Activist, Chido Onumah, Released Chiemelie Ezeobi A Nigerian activist, Chido Onumah who was arrested yesterday, has been released. Onumah was arrested by the Department of State Services (DSS) at the Abuja airport around 5 p.m. He was taken to the DSS office in Abuja and detained for about five hours. He was eventually released a few minutes past 10 p.m. Onumah, one of the leading advocates for the protection of whistleblowers, also doubles as the executive director, African Centre for Media and Information Literacy (AFRICMIL) and the author of We Are All Biafrans. According to reports, he was picked up at the Nnamdi Azikiwe International Airport immediately he returned from Barcelona, Spain, where he had just successfully defended his Ph.D thesis. Although he was picked up as soon as he got to the

immigration desk at the airport, he was able to make one phone call to a friend of his arrest before his number became unreachable. As at press time, no reason has been given whatsoever for his arrest by the DSS, although a cursory look at his active Twitter page showed that he was quite vocal about the government’s recent arbitrary arrests. Reacting to the arrest, the National Union of Campus Journalists (NUCJ) on their Twitter handle said: “@ nucjnigeria condemns the arbitrary arrest of one of our patron. This act is highly undemocratic and poses threat to good governance in Nigeria. @conumah is a well respected activist and journalist. “We hereby demand for his immediate and unconditional release. @conumah for some years now has been working tirelessly to contribute to nation building. Free him now.

are the last gasps of the defeated foes. The days of freedom is at the door. We reach for the new Nigeria which its builder and

maker is God. As we wait as it is declared in Psalms 46: 11,” Osinbajo said. In his remarks, the National

President of Christian Association of Nigeria (CAN) Dr. Samson Ayokunle, said that though God has assured that Nigeria

will emerge stronger, the citizens ought to be cautious in handling the matters that affect the country’s unity.

59 HEARTY CHEERS …

L-R: Delta State Governor, Senator Ifeanyi Okowa; Chief Judge of Delta State, Justice Marshall Umukoro; Hon. Victor Nwokolo; and Hon. Pat Ajudua, during the 2019 Interdenominational Thanksgiving Service to Mark Nigeria’s 59th Independence Day, at Cathedral Church of St’ Peter, Bishop-Court Asaba, Delta State…yesterday

Sowore: NBA, Ozekhome, Condemn Disobedience of Court Order Alex Enumah in Abuja Detained convener of #RevolutionNow protest, Omoyele Sowore is expected to appear in court today, to stand trial on a seven-count charge bordering on treasonable felony and money laundering. According to sources in the Federal High Court, Abuja, the suit which has been assigned to Justice Ijeoma Ojukwu has been fixed for today, September 30. Reacting, the NBA has berated the DSS for its flagrant disobedience of the order directing

the release of Sowore. The body berated the DSS for finding it convenient to approach the Federal High Court in ensuring the detention of Sowore for more than 50 days but “has since comfortably refused to comply with the order of the same court directing the release of Sowore. “This is unacceptable in a country where there are laws and a nation which Head of State recently professed at the recently concluded United Nations General Assembly to respect the human rights of citizens”,

the body said in a statement. In a related development, a Senior Advocate of Nigeria (SAN), Mr. Mike Ozekhome has faulted the alleged petition against Justice Taiwo Taiwo before the NJC, for granting bail to Sowore. He queried why the same DSS did not petition the courageous Judge when he used his same undoubted discretion to order Sowore’s detention for 45 days in the first instance. “This government is one given to cheap duplicity, irreconciliable contradictions and barefaced impunity.

“How can you petition against a Judge for exercising his discretion judicially and judiciously as permitted him by law? The Judge was right in his order. Ozekhome said if the DSS was dissatisfied with the decision of Justice Taiwo, all it should have done was to first obey the court order and then appeal against it. “It has no right or power to choose, whimsically, capriciously and arbitrarily, what order to obey and which to disobey”, he said.

At Last, PDP BoT Submits Report on House Minority Leadership to NWC Chuks Okocha in Abuja At last, the Board of Trustees (BoT) of the Peoples Democratic Party (PDP) has submitted its report of investigation over the allegations of disobedience to party directives in the elections of the minority principal officers in the House of Representatives to the National Working Committee (NWC) of the party. The report was last Tuesday submitted at the party’s national secretariat to the PDP National Chairman, Prince Uche Secondus, in the presence of the National Secretary, Senator Umar Tsuari, and the National Publicity Secretary, Kola Ologbondiyan. Before the submission of the report, there was a minor disagreement between the PDP BoT Chairman, Senator Walid Jubrin, and the BoT Secretary, Senator Adolphus Wabara. While Wabara claimed that

the report had been earlier submitted, Jubrin said the report was yet to be submitted. Speaking with THISDAY yesterday, Jubrin confirmed that the report was actually submitted last week Tuesday to the national chairman in presence of two officials of the party’s NWC. He said: “We have submitted the report to the National Chairman of our party, Prince Secondus on Tuesday.” A source in PDP corroborated Jubrin’s position and told THISDAY in confidence that the report is not of a priority to the party at the moment. The source said the party is currently interested in the pursuit of its petition at the Supreme Court where the PDP and its presidential candidate, Atiku Abubakar are challenging the election of President Muhammadu Buhari.

Another said PDP is focusing on the two governorship elections coming up on November 16 in Bayelsa and Kogi states. It would be recalled that the Chairman of the Investigative Committee and former Senate President, Senator Iyorchia Ayu, along with a member of the committee and former Senate President, Senator Adolphus Wabara, submitted the report to the PDP BoT Chairman September 9 at his Legacy Building office in Abuja. Other members of the committee included; former Senate President, Senator David Mark, a former Deputy Senate President, Senator Ibrahim Mantu and a former Deputy Speaker of the House of Representatives, Rt. Hon. Austin Opara. In the report sighted by THISDAY, the committee unanimously exonerated

Hon. Ndudi Elumelu and six others of any complicity in the nomination and official announcement of the minority leadership of the House of Representatives. The six others are: Hon. Wole Oke, Hon. Lynda Ikpeazu, Hon. Anayo Edwin, Hon. Gideon Gwadi, Hon. Toby Okechukwu and Hon. Adekoya Abdul-Majid, The committee in its recommendation, also advised PDP NWC to work with Elumelu and other minority leadership officers of the House, for a united and stronger PDP in the National Assembly, even as it admonished the leadership of the Minority Caucus in the House of Representatives to, at all times, continue to carry members of the minority caucus and the leadership of the party along, in consonance with the rules and tenets of democratic principles.

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Southern, Middle Belt Leaders Demand Explanations on Osinbajo’s Alleged Ordeal Shola Oyeyipo in Abuja Leaders from the southern and middle belt parts of Nigeria have demanded clarifications on the seeming clampdown on the person and office of Vice President, Prof.Yemi Osinbajo in recent times. Prominent leaders, including Chief E K Clark (South South),

Chief Ayo Adebanjo (South -west); Chief John Nwodo (South -east); and Dr. Pogu Bitrus (Middle Belt), in a joint statement issued yesterday and titled: ‘Rumble in Presidency: Need to Know,’ demanded explanations on the alleged humiliation of Osinbajo by some forces in the presidency. Speaking under the auspices

Bandits Kill Policeman, Seven Others in Niger Laleye Dipo in Minna Suspected bandits at the weekend killed a policeman and seven members of local security operatives in Rafi Local Government Area of Niger State. A top police source told THISDAY in Minna that the slain policeman was a ‘Constable but did not disclose his name. The bandits were said to have rustled several cattle from Kusherki village and were escaping with the animals when the incident occurred. “The policeman and local vigilante raced after the bandits in order to rescue the animals from them,” the source said. However, according to the information another set of the bandits ambushed both the policeman and the local security men and slain them. “One or two of the bandits were injured, but some members of the bandits returned later to take the injured into their enclave,” it was learnt, adding:

“We traced the blood of the injured bandits to a spot but we had to retreat for fear of another possible ambush.” Public Relations Officer, Niger State Police Command, DSP Muhammad Abubakar, when contacted confirmed the incident, saying the remains of the slain policeman and local security men have been deposited at Kagara General Hospital Mortuary. “We have mobilised more men to the area to secure the lives and property of the people,” Abubakar said. The recent incident may have signalled the collapse of the peace initiatives between the state government, security operatives on one hand and the bandits on the other. The government team had negotiated peace with the bandits in the area leading to about 23 of them promising to toe the line of peace by stopping attacks on innocent members of the public.

Nigeria, Others Lose $2bn to Pirates’ Attacks Annually, Says Naval Chief Eromosele Abiodun The Chief of Naval Staff, Rear Admiral Ibok Ekwe Ibas, has revealed that Nigeria and 15 other countries in the Gulf of Guinea are currently losing a sum of $2 billion to pirate attacks annually. The Naval Chief’s revelation was coming two months after Nigeria was rated as number one in pirate attacks in the Gulf of Guinea in a report by the International Maritime Bureau (IMB). Ibas also confirmed THISDAY’s exclusive report that Nigeria loses several millions of dollars to illegal fishing and poaching on the nation’s coastal and territorial waters. The Chief of Naval Staff, who disclosed this while speaking at the Annual General Meeting (AGM) of the Maritime Security Providers Association of Nigeria (MASPAN) over the weekend in Lagos, said the Navy’s efforts are continuously being fine-tuned to counter emerging challenges through maintenance of credible presence within the nation’s maritime domain.

Ibas, who was represented by the Flag Officer Western Command, Rear Admiral Oladele Daji, added that apart from the traditional crime of robbery and piracy that have bedevilled the maritime domain for decades, there are other emerging security threats such as sabotage of oil and gas infrastructure and marine resource theft as well as other transnational organised crimes that are being tackled by the Nigerian Navy. He also lamented that the security threats keep evolving from traditional to conventional warfare. According to him, “The maritime domain has been under threat by piracy, sea robbery, illicit trafficking, illegal unreported and unregulated fishing and marine pollution. Now we have emerging security threats within the Nigerian maritime domain that stem largely from non-military causes such as socio-economic agitations and a large army of unemployed and under-employed youths in the coastal communities, whose activities manifest through attacks on shipping.

of Southern and Middle Belt Leaders Forum (SMBLF), the group which said it has followed with keen interest, developments in the presidency as regards the office of the vicepresident in the past few days, expressed worries over what was termed “virtual stripping of the office of the VP of most functions and responsibilities.” The concerned leaders that Osinbajo has been stripped of his functions, including some that are constitutional, by fiat, adding that this development does not tally with the declaration of APC governors that all is well at the seat of power. According to SMBLF, “the office of the Vice-President

today is definitely not what it was two weeks ago. Something is definitely wrong even when we cannot place our fingers on it yet. “And this because of the opaque handling of affairs of a supposed constitutional democracy and open society in a manner reminiscent of a kingdom where things are done according to the whims and caprices of the monarch.” Contending that in a democracy, people needed to know the ways their lives are being run by those they have hired to do the job, the body drew attention to the multi-ethnic nature of Nigeria, adding that the geo-political balancing of its presidency

would make the kind of actions that have been taken against the office of the vice president attract the usual suspicion of the experiences of Ebitu Ukiwe and Oladipo Diya, if there are no explanations to the public. “In this dispensation in particular, references would be made to the treatment of Justice Walter Onoghen, Mrs. Winifred Oyo-Ita and now Prof. Osinbajo on one hand ,and Mr. Abdulrsheed Maina of Pension Reform Task Force, Prof. Usman Yusuf of NHIS and Governor Abdullahi Ganduje of Kano, on the other hand. “In order to preserve the unity of the country therefore, we demand explanation on what is happening to Osinbajo

from the Presidency and if no such is forthcoming, his functions should be restored. “We have equally noticed the unusual quiet from the Presidency on damaging allegations against the VicePresident. In any normal clime, it should not have taken more than a day for the presidency to dispel the allegations to maintain the moral standing of the VP and the integrity of the administration. “We, therefore, demand a statement from the government on the weighty allegations or an investigation to be caused. We hold our breath until the public is properly briefed,” SMBLF stated.

GOALKEEPERS…

L-R: Editor, THISDAY Newspapers, Mr. Bolaji Adebiyi; Editorial Director, Royal Media Services, Kenya, Mr. Joe Ageyo; Bill & Melinda Gates Foundation’s Moky Makura; Editor, New Telegraph, Mr. Ayodele Ojo; and Managing Editor, Standard Group Limited, Kenya, Mr. Kipkopech Tanui, during the BMGF Goalkeepers Award in New York...recently

2020-2022 MTEF/FSP: Senate Committee’s Report May Not Be Ready by Wednesday Deji Elumoye in Abuja There are indications that the report of the joint committee set up by the Senate to look into the 2020-2022 Medium-Term Expenditure Framework and Fiscal Strategy Paper (MTEF/ FSP) may not be ready by Wednesday when the one-week deadline given to it expires. The Senate had last Thursday mandated its committees on Finance and National Planning to study the MTEF/FSP documents sent to it last Tuesday

by President Muhammadu Buhari and report their findings at plenary on Wednesday. But THISDAY’s investigations at the weekend, however, revealed that the two committees may not complete their assignments within the one-week deadline and may therefore ask for more time because of the volume of work before them Sources within the committee revealed that the earliest time the joint committee’s report will be ready is Thursday or at most next week Tuesday for it to be

laid at the Senate plenary. Already, the Senate committee on Finance has swung into action as it met weekend with its counterpart in the House of Representatives. Chairman of Senate Committee on Finance, Senator Adeola Olamilekan, on Saturday met his counterpart in the House, Hon James Faleke, on how to approach the MTEF/FSP document and advice the two chambers of the National Assembly accordingly.

The meeting which lasted for over seven hours in the office of Senator Olamilekan, agreed to invite the Minister of Finance, Accountant General of the Federation, Governor of the Central Bank of Nigeria and heads of parastatals like Federal Inland Revenue Service (FIRS), Fiscal Responsibility Commission, Revenue Mobil-isation Commi-ssion, Sovereign Wealth Fund and Nigeria Customs Service to defend the projected revenue in the document.

Institute Seeks Inclusion of Change Management in Education Curriculum The Institute of Change Management (ICM) has called on the federal government to include the teaching of change management in the education curriculum at all levels. Registrar of the institute, Mr. Joseph Anetor, made the call on the sidelines of the induction of new members into the institute in Lagos. He stated that it was important that students were trained to become change agents from the

earliest stage of their education. According to him, Nigeria cannot compete effective in this current era except it has persons with change management skills as policy formulators and executor. “Change is needed by everyone in order to adapt to the challenges of an ever changing and complex society. Those who cannot drive change cannot achieve any meaningful or tangible growth,” he said.

Earlier in his keynote lecture titled: “Leading in a VUCA world: The Change Management Imperatives,” a management consultant, Mr. Tayo Ayoola, said the society was characterised by volatility, uncertainty, complexity and ambiguity (VUCA). Ayoola said contemporary society was moving at nearly the speed of lightening which required today’s professionals to keep a step ahead of the unexpected and react in a

timely manner; stay on course despite constant surprises and lack of predictability; steer one’s operations through complexity, chaos and confusion and be able to take decisive actions. The consultant urged professionals to think global but act local. He noted that success in a VUCA world would require setting laudable goals, relying on technology, being flexible as well as adaptive among others.

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Falana: DSS Not Planning to Petition NJC over Sowore’s Bail Human rights lawyer, Mr. Femi Falana (SAN), has said there is no plan by the Department of State Services (DSS) to report a Federal High Court judge to the National Judicial Council (NJC) for granting Omoyele Sowore bail. In a statement issued yesterday, Falana said the report on the

secret service petitioning the NJC against Taiwo Taiwo, the judge, who granted bail to Sowore, is false. He said it was designed to blackmail and intimidate judges in the case of the activist. “However, in a desperate bid to divert public attention from

the contemptuous conduct of the SSS the federal government has hurriedly pressurised the Federal High Court to assign the case for the arraignment of Mr. Sowore,” he said. “I wish to state without any fear of contradiction, that the federal high court is competent

Buhari Approves Deep Sea Port in Bakassi Omololu Ogunmade in Abuja Governor Ben Ayade of Cross River State has expressed appreciation to President Muhammadu Buhari over the official approval for the Bakassi Deep Sea Port. Ayade spoke with State House correspondents after a private meeting with the Chief of Staff to the President, Abba Kyari, at the Presidential Villa, Abuja. He said that the Bakassi Deep Port, started by his administration, would be of immense economic benefit to the state and Nigeria in general. Ayade said that the Super Highway, which he initiated, would provide a link between the North and Bakassi Deep Sea Port and boost transportation of farm produce.

“Every one of you should thank President Muhammadu Buhari for me; thank the Transport Minister; thank the Managing Director of Nigeria Ports Authority; thank the permanent secretary, Ministry of Transport, thank the Minister of Finance for the approval of the Bakassi Deep Sea Port. “We have got the official approval for the Bakassi Deep Sea Port Outline Business Case, which means that the Nigerian government has now officially recognised the Bakassi Deep Sea Port and has given us the impetus to go for the full business case. “The Bakassi Deep Sea Port is the only port in Nigeria that has an evacuation corridor; so you have a port in Bakassi with a six-lane super highway taking

you direct to Northern Nigeria. “So, what Cross River State is trying to do is take the Atlantic Ocean closer to Northern Nigeria; the whole idea is that the Northern part of Nigeria particularly, the North-east and North-west cannot see the desired prosperity unless they get access to the deep sea port. “Otherwise, the wonderful sesame seed we have in Borno and Yobe states lie prostrate; the solid minerals we have in the North-east is lying waste because you cannot travel 2000km to a seaport carrying such materials on road; so definitely the Super Highway will shorten all of that.” Ayade said that the Super Highway and the Deep Sea Port were supposed to be federal government’s project as they had potential to succeed.

to admit a person charged with a capital offence to bail by virtue of section 161 of the Administration of Criminal Justice Act, 2015. But in this case, Mr. Sowore has not been charged with a capital offence. “Treasonable felony is not a capital offence under section 41 of the Criminal Code. Even under the most brutal dictatorial regimes in Nigeria our courts did not hesitate to uphold the fundamental right of the victims of repression to personal liberty including those who were charged with treasonable felony.

“Having regards to the facts and circumstances of this case, the SSS cannot complain against the handling of the case by Justice Taiwo who did not even entertain our application to quash the order for Sowore’s detention for 45 days. We had wanted to show that Sowore did not engage in any terrorist activity to warrant his incarceration. “In urging Nigerians to disregard the dubious report it ought to be pointed out that Justice Taiwo has not been accused of any act of judicial misconduct in ordering the

conditional release of Sowore from unlawful custody. After all, it was the SSS counsel, Godwin Agbadua who withdrew his fresh motion ex parte motion for an order to further detain him for 20 days. “To that extent, the NJC has no power to sanction a judicial officer for exercising his/her discretion judicially and judiciously in an application for the bail of a citizen. In other words, since the NJC is not an appellate court it cannot review the order for the conditional release of Sowore from illegal custody.”

Ihedioha: Imo is Making Steady Progress Imo State Governor, Hon. Emeka Ihedioha, has enjoined the citizens of the state to exhibit diligence, resilience and patriotism in the task of rebuilding the state from the ruins the last administration plunged it into. “Let us continue to work hard. Together, we will rebuild our state,” Ihedioha said at Sam Mbakwe Internationl Airport, Owerri, when he arrived from the 74th United Nations General Assembly that was held in New York, United States of America. He noted that the state has made steady progress under his watch and would continue to witness genuine and proactive

efforts towards rebuilding the state. He described his engagements while in the United States as “exploratory and gainful,” and stated that the trip offered the state an opportunity to improve on her relationship with development partners and developed countries. Ihedioha also called on the citizens to be patient with his administration, noting that: “The Imo Community in Diaspora and our partners are appreciative of the steps we have taken so far to rebuild the state. “The trip was exploratory. We are all aware that we are working hard to get back to

both national and international reckoning, though that will take a while but the good news is that we are making steady progress.” The governor held some strategic business meetings with key multilateral agencies on the side of the General Assembly, including United Nations Development Programme (UNDP) in New York, where he received commendation from Ms. Ahunna EziakonwaOnochie, Assistant Secretary General of the United Nations and Regional Director, UNDP Regional Bureau for Africa, for his efforts at redefining governance in the state.

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Fresh Allegation of Raping Pregnant Woman Trails Fatoyinbo Senior pastor replies ex-spiritual mentors Chiemelie Ezeobi A fresh allegation of raping a pregnant woman is presently trailing the embattled Senior Pastor of Commonwealth of Zion Assembly (COZA), Biodun Fatoyinbo. This followed the exclusive interview aired by Arise TV last Thursday where two of

his former spiritual mentors admitted that they had treated several cases of rape allegations in the past when he was still running his ministry in Ilorin, Kwara State capital. In the Arise special exclusive monitored by THISDAY last Thursday, the anchor, Adesuwa Onyenokwe of Today’s Woman, had interviewed Pastor Busola

PDP: Absence of Lokpobiri, Others at Rally Sign of Crisis in APC Emmanuel Addeh in Yenagoa The Peoples Democratic Party (PDP) Youth Network, a prominent group within the party in Bayelsa State, yesterday argued that the absence of prominent party leaders and governorship aspirants under the All Progressives Congress (APC) at the party’s weekend rally was a sign of crisis within the APC. Secretary General of the group, James Oputin, said that the leading governorship aspirants of the party, Heineken Lokpobiri, Preye Aganaba, and other key players stayed away from the flag-off of the party’s rally because of the undemocratic actions of the party. He argued that the ‘controversial’ direct primary adopted by the party was marred by rigging and violence with the results for the election written at a hotel without voting. According to the PDP youths, the development contributed to the non-issuance of a certificate of return to David Lyon by the National Secretariat of the party, a sign that the APC in Bayelsa was seriously in crisis. “The APC is torn apart by injustice and bitterness as many of the supporters who observed the election believe rightly that Lyon was not elected but imposed on the

Olotu of Daughters of Deborah International Ministries (DODIM) and Pastor Emmanuel Oset of Canaan Ministries a.k.a Champion’s Church. While Olotu was a mentor, Oset on the other hand was once Fatoyinbo’s spiritual father who officially ordained him into ministry in Ilorin before his relocation to Abuja. Meanwhile, Onyenokwe, in a fresh interview on the Arise Morning Show, weekend, also revealed that there were cases that they didn’t show because

of its sensitive nature. She said one of such was that of a married woman, who alleged that the said pastor raped her in her husband’s house in Ilorin while she was pregnant. “There are cases that we cannot reveal, including one involving an alleged sexual assault of a pregnant woman. “There is a lot of cases we could have brought up when we found out. There is a woman who was pregnant for her husband at the time that this said pastor did rape her.

“That woman is still married to her husband. Can she ever publicly come out and say this is what this man did to me? She can’t because first of all, most of the young girls he has done this to are married. How many men in Nigeria are like Timi Dakolo?” However, after the Arise TV expose, Fatoyinbo has been dropping cryptic messages on his Instagram page, alluding that his accusers were targeting him in a calculated attempt to tarnish his image.

On Friday he wrote: “I think some of us were born to give more love than we will ever see in return. Do not be bothered if those who you have been a huge blessing to turn against you because of ingratitude, envy and Jealousy. Don’t even think about it for a second, don’t let who they are change who you are!” On Saturday, quoting one Genereux Philip he wrote, “People only throw shade on what’s shinning.”

party” the PDP youths said. Oputin lauded the decision of the leadership of the party to shift the commencement of its campaign earlier scheduled for Saturday to Monday (today) to avoid a clash with the opposition APC. Oputin posited that APC lacks capacity to win free, fair and credible election in Bayelsa State and called on the members of PDP to remain calm and resolute, as the party has all it takes to win November 16 governorship election. Meanwhile, Lyon, the standard bearer of the APC in Bayelsa State yesterday insisted that he was the validly elected candidate of the party and that he was only waiting for the Certificate of Return from the Independent National Electoral Commission (INEC). Speaking during the official opening of his campaign office by the Minister of State for L-R: Alake of Egbaland, Oba Adedotun Gbadebo: former President Olusegun Obasanjo; First Lady of Ogun State, Mrs Bamidele Petroleum Resources, Chief Abiodun; and Ogun State Deputy Governor, Mr. Noimot Salako-Oyedele at the church service marking Nigeria’s 59th Independence Timipre Sylva, Lyon stated Anniversary in Abeokuta…yesterday that he and his running mate were validly elected despite the non-issuance of the certificate. “If you want to know a genuine flag bearer, it is not flashing certificate of return from your political party and we don’t see it anymore. I will Bayelsa State Governor, on Friday. communities, including maiming high then this militant, almost an not flash the certificate of return Seriake Dickson, has accused The governor said that the oil and killing of those who disagree illiterate, will attempt to take over from the party as flag bearer. oil companies in the Nigeria firms were exhibiting a mafia- with them and their activities. Bayelsa State. What they have On our own, we are waiting of outsourcing terrorism to the like grip on the oil producing He noted that the activities done is to outsource terrorism to take the INEC’s certificate candidate of the All Progressives communities in the state in order of the surveillance contractors to the so-called candidate of the of return,” he said. Congress (APC), Chief David to brutally crush any likeness of were quite disturbing as they run APC, Chief David Lyon, and I Lyon, through pipeline security resistance to their activities from militia groups with thousands think in the next couple of days and surveillance contracts. the communities. of armed young men working when you see some images you The governor said that the oil According to him, the under them to inflict terror on will be appalled. firms were giving out surveillance surveillance contractors some of the society. “What has happened is that contracts to outlaws in the oil- who earn as high as N1 billion Dickson added that the the oil companies are giving producing communities created per month have been operating surveillance contractors were surveillance contracts to these and sustained by them. in the state as if they are a parallel being paid to carry out criminal young boys most of who are N500, 000 and had agreed to get Dickson made the comment government. acts of repression against the outlaws that they are creating, the CBN to explain the rationale while speaking with some editors The governor said that the producing communities since and I have said it several times behind the policy. of national newspapers on contractors’ main duty was the oil companies couldn’t carry that they are working towards But there were some reports political happenings especially to engage criminal- minded out those illegal activities directly. having a Mafia-like hold in our that the House summoned the the forthcoming gubernatorial individuals to perpetrate heinous He said, “We can’t imagine that communities, particularly in CBN governor, necessitating election in Bayelsa State in Lagos acts against the oil-bearing after I have raised the bar this Bayelsa State. Nwokolo’s clarification. He said: “The motion simply asked the CBN Governor and the Bankers’ Committee to interface with us so that we Martins Ifijeh specialised checklist and critical the electoral process. Pre-election election team is interested in can find ways and means to incident form. observers will also observe and campaigns and rallies associated curb the hardship of the policy A political advocacy group, the He said: “The vote pre-election report voter information campaigns to various political parties while on Nigerians. YIAGA Africa has deployed 48 observers will monitor issues by National Orientation Agency also observing if youths, women “We need to know how they Long Term Observers (LTO) to related to the activities of the (NOA) and other Civil Society and PWDs are also in anyway arrived at the charges and the monitor the incoming governorship Independent National Electoral Organisations. canvassing for votes.” indices used to arrive at the elections in Bayelsa and Kogi states. Commission (INEC) ranging from “At YIAGA Africa, we believe He said through the pre-election conclusion too. Our intention Revealing this in a statement recruitment and training of ad hoc and promote social justice and observation, the advocacy group on this issue is simple and it made available to THISDAY personnel, identification of polling inclusiveness, thus voter education will track early warning signs and simply aims at the possibility yesterday, the Executive Director, units, meeting with stakeholders, and campaigns targeted specifically any form of incident that can of Nigerians using the policy YIAGAAfrica, Samson Itodo said voter education and information at youths, women and Persons hinder the successful conduct of to their advantage. the observers, who are deployed to campaigns to the collection and With Disabilities (PWD) will the elections, adding that observers “By so doing, we will know each of the eight Local Government distribution of Permanent Voters be followed closely and duly will observe and report issues where it bites most through the Areas in Bayelsa State and the 21 Card, activities of political parties reported by observers during relating to hate speech campaigns, proposed interface with the Local government areas in Kogi like rallies and campaigns, activities the pre-election period. Even intimidation and harassment of any governor and his officials,” State, will observe activities and relating to security agencies and as political parties launch their electoral stakeholder and attacks Nwokolo said. other critical incidents using a incidents capable of undermining campaigns across the state, our on media or INEC officials.

CHURCH SERVICE……

Dickson: Oil Firms Outsourcing Terrorism to APC Candidate in Bayelsa

House Committee Denies Summoning Emefiele Shola Oyeyipo in Abuja The House of Representatives Committee on Banking and Currency has denied media reports that it had issued a summon to the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele over the new bank charges associated with the implementation of the cashless policy. The committee chairman, Hon. Victor Nwokolo, yesterday dispelled the purported summon, saying rather, the CBN governor was only asked to interface with the committee so that the conditions of the policy would be reduced for Nigerians in order to maximise the benefits. The House of Representatives had last week passed a resolution rejecting the two and three per cent charges respectively on any deposit or withdrawal exceeding

YIAGA Africa Deploys 48 Observers to Bayelsa, Kogi Guber Polls

MONDAY SEPTEMBER 30, 2019 ˾ T H I S D AY

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I will Succeed Buhari as President, Bakare Insists Dike Onwuamaeze The General Overseer, Latter Rain Assembly, Pastor Tunde

Bakare, yesterday reiterated that he would succeed President Muhammadu Buhari in office. He noted that that was what

RRS Arrests Five Real Estate Serial Scammers Chiemelie Ezeobi A five-member gang of serial real estate scammers, who were about to fraudulently lease out someone else’s duplex in Lekki Phase 2 to a house seeker for a sum of N4.5 million have been arrested by the operatives of the Rapid Response Squad (RRS) at the point of exchange of money and keys. The gang, which consists of Abolade Oladimeji (43), Ademola Ayo (45), Emmanuel Fabiyi (65), Ademola Hakeem (49) and Sunday Ayodele (52), were arrested in Lekki Phase 2, after almost sealing the deal for the lease of someone else’s duplex to one Mr. Obi (not real name). The suspects all of whom are real estate agents living in border towns of Lagos and Ogun states had pretended to be agents of the duplex. To expand their dragnet, the suspects had advertised the property on jiji.com with a total lease package for a year put at N4.5 million. According to the leader of the gang, Ademola Hakeem, he had been using his knowledge of computer to post for sales

and lease on various websites about non-existing landed property, apartments and buildings, adding that they lure unsuspecting people with attractive prices. In his confessional statement to the police, Hakeem disclosed that in early September, he posted a vacancy of a four-bedroom duplex in Lekki Phase 2, which attracted so many people among whom was one Mr. Obi. “Immediately he called me through the contact on the advertisement, I knew he was genuine. I mobilised my colleagues and allocated roles to each of them to make the deal seamless. “Abolade Oladimeji conducted himself as the estate lawyer. He discussed at length with our client on the legal angle as well as visitation before payment. “Ademola Ayo was in charge of taking clients on house or land inspection. Emmanuel Fabiyi, the eldest among the team played the role of a principal agent and sometimes acted as site engineer while Sunday Ayodele assisted Fabiyi to make him look like a big man who is well groomed and seasoned in the business,” he explained.

Stop Playing Deceptive Politics with LAUTECH, ASUU Tells Makinde, Oyetola Kemi Olaitan inIbadan The Academic Staff Union of Universities (ASUU) of Ladoke Akintola University of Technology, (LAUTECH), Ogbomoso chapter, yesterday warned the governments of Oyo and Osun States not to play politics with the lives and welfare of staff and students of the university. The union said in a release signed by its chairman and secretary, Dr. Biodun Olaniran and Dr. Toyin Abegunrin respectively, that the welfare of its members remained paramount in its demands and vowed to do everything at its disposal to protect its members from being exposed to economic hardship. It affirmed that the payment of salaries and accumulated arrears of allowances to its members remained paramount and would not be traded for politics between the two state governments that owned the university. ASUU had last week threatened to disrupt academic activities if Osun State Government, which it said was scheduled to pay salaries between July and December, failed to pay the outstanding August and September salaries. But the Osun State Government through its Secretary to the State Government, Prince Wole Oyebamiji, explained that ASUU was misguided by the accusation against the state, stating that Oyo State reneged on the agreement of paying salaries while it had kept faith with paying salaries

of LAUTECH Teaching Hospital workers in Osogbo. However, ASUU described the position of the Osun State Government as outright lies, deceptive assemblage of figures with a propagandist mindset. According to the union: “Now to the facts of the matter, Osun State should be ready to explain to the public, if there was an arrangement between the two states (Oyo and Osun) to pay LAUTECH salaries on six monthly basis? How faithfully has Osun State government been discharging its own share of this responsibility since 2013? Osun State should also toe the path of honour by telling the public, how many teaching hospitals service LAUTECH’s medical programme? “Who has been funding the LAUTECH Teaching hospital in Ogbomoso, Oyo State, if the Osun State Government has been funding the LAUTECH’s teaching hospital in Osogbo, Osun State? If Oyo State has not neglected the release of salary subvention to LAUTECH workers, just because the state funds the teaching hospital on Ogbomoso, Oyo state, why is Osun State hiding under the excuse that it has been paying salaries in the teaching hospital in Osogbo alone? The two teaching hospitals have their separate governing boards, their memberships are separately drawn from individuals within their states, and the financial obligations are borne separately by individual states.

he saw and said about one year, seven months ago, adding that the situation had not changed. The cleric faulted social media reports linking his presidential ambition to the alleged humiliation of Vice-President Yemi Osinbajo by “the cabal” in the Presidency. “I heard all kinds of things

on the Internet about joining the cabal. Those who pull down others to get up will never get up,” he said. He also clarified the misconceptions surrounding a video on his ultimate emergence as the 16th president of Nigeria and successor of President Buhari.

He also said that the trending video was an excerpt from a message titled “Be Grateful for Your Blessings (Part 3),” which he preached on Sunday, February 18, 2018.He wondered why that excerpt should released at this time, “a year and seven months after the statements were made, and

erroneously associated with recent developments relating to the Office of the Vice President.” Bakare noted that the clarification became necessary to ensure that truth soars high above falsehood and ensure that well-meaning Nigerians were not misinformed about his activities.

DIVINE BLESSING…

L-R: Rev. Fr. Gerald Njoku; Catholic Archbishop of Owerri, Ecclesiastical province Most Rev. Anthony Obinna, Imo State Governor, Emeka Ihedioha and his wife Ebere during the Church service to mark the 59th Independence Anniversary at Assumpta Catholic Cathedral, in Owerri...yesterday

Yoruba Summit Group Decries Buhari’s Penchant for Disobeying Court Orders Dike Onwuamaeze The Yoruba Summit Group (YSG), an umbrella body for all Yoruba groups, has described President Muhammadu Buhari’s administration penchant for persistent disobedience of court orders as an act of lawlessness and dangerous culture of tyranny. The group stated that the Department of State Services (DSS) under the Buhari’s administration has defied the order of a competent court of jurisdiction for the release of Omoyele Sowore, an activist, founder of Sahara Reporters and former presidential candidate who was called for revolution, on bail. It observed that the recent snubbing of court order was consistent with the administration’s emerging

culture of arbitrariness and subversion of the rule of law as demonstrated in the cases of former National Security Adviser Col. Sambo Dasuki, (rtd) and leader of Islamic Movement in Nigeria, Ibrahim El ZakZaky, which formed part of the script of intimidation. The group, in a press statement signed by its Chairman and Publicity Secretary, Dr. Olufemi Adegoke and Gboyega Adejumo, respectively said: “This is a dangerous affront to constitutional order and a contemptuous defiance of the rule of law. Sowore has been charged with some offences. He should be allowed to have his day in court, without any abridgment of his constitutional right to liberty. “We note, with regret, that unlawful curtailment of personal liberties, as a

weapon of repression, has been the handy tactics of the Buhari’s administration to suppress legitimate dissent. This constitutes an existential danger to the polity and a systematic erosion of democratic rights. We condemn this dangerous trend, and direct that Omoyele Sowore should be released forthwith, and have his liberty restored to answer the spurious charges preferred against him,” the group said. The YSG noted that it has identified six occasions in which the Buhari administration disobeyed critical orders from the judiciary. ‘We watch as full blown tyranny is unleashed on our nation as if we never left the obnoxious military rules of 1983 up to the jackboot rule of the Abacha days... And we are saddened. “We are also saddled with the

task of ensuring the adherence to democratic tendencies, lest the inevitable combustion that follows each and every tyrannical rule, here and elsewhere, happen also, to this Republic! “We also watch as the BBC took on the attorney general to task over Sowore charges. The whole world watched as The BBC asked the attorney general some salient questions and it is disturbing to watch him prevaricate, unable to respond to questions about his employer’s previous use of the word “Revolution” as well as his employer’s previous use of force to come into power. “Sowore’s request for revolution via placards and posts and the absurdity of charging an individual for insulting the president are simply incongruities, laughable and derisory.

Benue Senatorial Seat: Akume Appeals Tribunal Judgment Alex Enumah in Abuja In a surprise move, the Minister of Special Duties, Senator George Akume has appealed the judgment of the National and State Houses of Assembly Election Petition Tribunal against his petition challenging the emergence of Emmanuel Orker-Jev as Senator representing Benue North West. In the petition filed on September 24 at the Court of Appeal, Makurdi Division, Akume, who represents Benue State in the Federal Executive Council in the current administration is asking the appellate court to set aside the decision of the tribunal

and return him as winner of the senatorial district election. The Independent National Electoral Commission (INEC) had declared Orker-Jev of the Peoples Democratic Party (PDP) as winner of the February 23, 2019 election, having scored majority of the votes cast at the election. However, Akume and his party, the All Progressives Congress (APC), alleging irregularities and substantial non-compliance with electoral provisions and guidelines had approached the tribunal to upturn Orker-Jev’s victory and declare him as the substantive winner. Other respondents in the petition with number EPT/

BN/S/09/2019 include the PDP and INEC, who are second and third respondents respectively. Delivering judgment in the petition on September 11, the three-man panel led by Justice RO Odugu, held that the petition lacked substance and accordingly dismissed it for being incompetent and lacking in merit. The tribunal said that the petitioners failed to prove in ground two of their petition that the election was marred by irregularities and noncompliance with the Electoral Act 2010 as amended. But Akume in the 14 grounds appeal filed by his lawyer, is alleging that the tribunal erred in law when they held that

ground two of the petition was grossly incompetent and proceeded to strike it out along with position paragraphs 96-182 of the petition which contain facts in support of the allegations made in ground two of the petition. Another ground upon which the minister is seeking the setting aside of the tribunal’s judgment is his claim that the panel erred in law when it relied upon technicalities to dismiss the petition for being incompetent. According to Akume, the failure of the panel to do substantial justice in the petition occasioned a grave miscarriage of justice.

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DSS Notorious for Disobedience of Court Order, Says NBA Obey court order, Ondo group tells FG Nseobong Okon-Ekong, Martins Ifijeh, Peter Uzoho and Kayode Fasua Nigeria Bar Association (NBA) has described the Department of State Services (DSS) as a notorious agency that enjoys treating judicial process with disdain, particularly as it pertains to obeying orders of courts enforcing the fundamental rights of Nigerians. This is coming as an Ondo State pressure group, the Sunshine Liberation Movement (SLM), has urged the federal government to set free detained

politician, journalist and activist, Omoyele Sowore, in obedience to a court order that admitted him to bail. International civil rights groups in collaboration with their Nigerian counterparts have, however, adopted Sowore as a prisoner of conscience. The NBA position, which was made known in a statement by its National Publicity Secretary, Mr. Kunle Edun, referred to the “unfortunate and flagrant disobedience of the order of Hon. Mr. Justice Taiwo Taiwo of the Federal High Court sitting in Abuja directing the release

Independence Day: Ogun Gov Commends Buhari, Restates Commitment to Good Governance Idowu Sowunmi Ogun State Governor, Prince Dapo Abiodun, has called on Nigerians to give maximum support to the efforts being made by President Muhammadu Buhari to lift Nigeria out of the current economic and social malaise. Abiodun, in a statement by his Chief Press Secretary, Kunle Somorin, to mark the nation’s 59th Independence Anniversary, said Nigeria has all it takes to be a great nation, noting that Nigerians should not lose hope, but called on them to support the federal government in its efforts to improve the economy, defeat remnants of the Boko Haram insurgency as well as other security challenges in the country. “I call on Nigerians to support the present administration with prayers and work with President Buhari to end insurgency and other fault-lines that divide us as one indivisible and united country. I pray that the country would witness prosperity, peace and progress. It was a divine mandate that the President won this year’s presidential election and his efforts so far justifies the confidence reposed on him. “We have seen how he has been handling the economy: his anti-corruption campaign, food security and internal security challenges. I am confident that with his efforts, by the time we celebrate our 60th Independent

Anniversary, we shall be full of greater joy and fulfillment. All of us in public offices and those in opposition should join the President in the task of nation building,” the governor said. Abiodun also restated his administration’s commitment towards ensuring good governance by being just, equitable and fair in the distribution of the dividends of democracy across the state. He said this should also be the guiding principle for all who have been voted into offices. The governor noted that his government had put in place security trust fund, where patrol vehicles and motorcycles were purchased for security personnel to guarantee safety of lives and property, noting that the people could now sleep with their eyes closed. “Our government has put up some policies in place; we are going to improve job opportunities in the State. Recently, the Investment Promotion Council Bill was signed into law, to promote the ease of doing business and consequently improve employment opportunities for the youths. “We have set up a job portal, where the youths are encouraged to put their names for companies to have local content, so that job portal would be their primary source for the recruitment of their staff,” he added.

Nsukka Journalists Hold Annual Convention All is now set for the 2019 convention of Nsukka Journalists Foundation (NJF) scheduled to hold on Independence Day, October 1, 2019 at Ikenga Hotels & Suites, Nsukka, Enugu State. Addressing journalists during the pre-conference media chat, the chairman of the foundation, and university don, Professor Nick Idoko, said the conference, which is the second after the 2018 edition, is going to have all journalists of Nsukka extraction worldwide converge on the university town, Nsukka. He stated that the foundation will, among other things, deliberate on a potpouri of issues focusing on the development index of Nsukka cultural zone, made up of Nsukka, Igbo-Eze South, Igbo-Eze North, Udenu, Igbo-Etiti, Uzo-Uwani and Isi-Uzo Local

Government Areas. Idoko added that also of immediate concern to the group, is how to get governments at different levels to partner stakeholders to ensure equitable distribution of social amenities among the communities, stressing that as a host community of the premier University of Nigeria, the question of a special status for Nsukka will feature in the deliberations of the group. “As journalists, we report events and mould opinions that shape our society. We ask questions about the use of our commonwealth by those in positions of authority. As professionals scattered all over the world, giving voice to the societies where we live and practise, we should also ask ourselves: have we also given voice to our own people?”

Europe, Nigerian groups adopt Sowore as prisoner of conscience

on bail of Omoyele Sowore by the Department of State Security Service of Nigeria on the 24th of September, 2019, of which the bail terms have long been perfected by the detainee’s counsel.” The body of Nigerian legal practitioners said: “This is unacceptable in a country where there are laws and a nation whose Head of State professed at the recently concluded United Nations General Assembly to respect the human rights of citizens.” The NBA statement condemned the continued detention of Sowere by the DSS, saying this amounted to “violation of his constitutional rights to personal liberty and that no one person shall be deprived of his liberty without a valid court order, as provided for in Section 35 of the Constitution of the Federal Republic of Nigeria.” Expressing its disapproval of the continued detention of former National Security Officer, Col.

Sambo Dasuki (rtd), in spite of various court orders, the NBA called for the immediate release of Sowore and other Nigerians languishing in DSS detention centres without any charge. In another statement issued yesterday, NBA President, Mr. Paul Usoro (SAN), said assaults on the independence of the judiciary and legal profession by various governments around the world have increased. In a statement made available to THISDAY yesterday, as part of his take-away from the recently concluded International Bar Association (IBA) conference in Seoul, South Korea, he said while these attacks were no longer new to Nigeria, it was consoling in some sense to learn that the attacks on lawyers have progressed in other climes. The senior lawyer said: “The old methods used by attackers used to be by charging lawyers for sedition and treason. However, the

new style of charging them now is for money laundering and others such as criminal acts, all in a contrived plan to cow lawyers and degrade the independence of the profession. While this was being discussed at the conference, I thought to myself, the Economic and Financial Crimes Commission (EFCC) did not invent this wheel after all. Meanwhile, Sunshine Liberation Movement has urged the federal government to set free Sowore in obedience to a court order that admitted him to bail. The group’s President, Mr. Dipo Ajidahun, speaking with THISDAY, said the government should not lose sight to the fact that we are in a democratic dispensation and as such, court orders should not be treated with levity. Ajidahun said: “Nobody is saying the government should not prosecute anyone suspected to have committed any crime,

but the government cannot also be the judge in its own case. Since a court had justified that he should be admitted to bail, having met all the conditions attached to his trial, there is no basis for the government to assume that it knows more than the court. In a related development, international civil rights groups in collaboration with their Nigerian counterparts have adopted Sowore as a prisoner of conscience. The Human and Environmental Development Agenda (HEDA Resource Centre) in collaboration with the United Kingdom-based groups, Global Witness, Cornerhouse and Re: Common of Italy and their counterparts in Nigeria, in a statement at the weekend, said they have adopted Sowore as prisoner of conscience, a term adopted in 1961 to qualify people detained for their political beliefs.

ALL EYES ON HIGHER RETURNS …

L- R: Group Executive Director, NIPCO Plc, Abdulkadir Aminu; Director, Mr. Ramesh Kasangra; Chairman, Chief Bestman Anekwe; Managing Director, Mr. Sanjay Teotia; and Company Secretary, Mr. Paul Obi at the company’s Annual General Meeting in Abuja …recently

Police Uncover Baby Factory in Lagos, Rescue 19 Pregnant Girls Chiemelie Ezeobi Acting on the strength of information from a reliable source, detectives from Isheri Osun Police Station, weekend uncovered a baby factory at the Ikotun area of Lagos. The operatives had stormed the building at No. 14 Adisa Street Ayanwale area of Ikotun and arrested two of the traffickers, while one fled. Led by the Divisional Police

Officer, the Divisional Police Officer, CSP Chike Ibe, the operatives rescued 19 pregnant girls, aged between 15 and 28years, as well as four of the trafficked kids. Owing to the strength of information at their disposal, the operatives had rescued the kids from four different locations- No 32 Owosho Street, Governor Road, Ikotun ; No 29 Olugbeyohun Street, Olakunle Bus Stop Abaranja; No 4/6

Anomo Street, Abaranja and the address mentioned above. Preliminary investigation revealed that the pregnant women were brought to Lagos from Rivers, Cross River, Akwa Ibom, Anambra, Abia and Imo States. According to the police, the suspects who were identified as 40-year-old Happiness Ukwuoma and 54-year-old Sherifat Ipeya, did not receive formal medical training but operate as nurses.

The state police Public Relations Officer, DSP Elkana Bala, who confirmed the arrests said the command has launched a manhunt of the principal suspect Madam Oluchi, a mother of five from Mbano, Imo State. Bala said the young women were mostly abducted by the suspects for the purpose of getting them pregnant and selling the babies to potential buyers.

Cabinet List: No LG will be Marginalised, Says Oyetola The Osun State Governor, Adegboyega Oyetola, has reassured citizens of the state that his administration would ensure that every local government in the state would be fully represented in the management of the affairs of the state’s government. . Oyetola assured that those councils that did not benefitted from the list of commissioners and advisers would be adequately compensated in subsequent

appointments that would be made. He also reiterated that his administration’s commitment to the welfare and general well-being of the people of the state were manifested in the myriads of social intervention programmes he embarked on in the past 10 months. Fielding questions from journalists yester at the Government House, Osogbo, shortly after the prayer session

organised in his honour by the committee of friends to mark his 65th birthday anniversary, The governor appealed to those who were not satisfied with recent political appointments in the state to douse their anger because the government is committed to ensuring equal representation. Said he: “It is expected that in a process like this, we will have few complaints here and there, but we have followed due process

in the choice of the people that made the list and everybody that we have picked was picked based on merit. “We play politics when seeking the office. But now that we have been elected, we are facing governance. I urge all those that will be working with me in the cabinet to imbibe the same spirit. They must put politics aside and face governance so that we can deliver on our mandate.

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MONDAYSPORTS

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

AFN’s Technical Director Recalled from World Championships, Faces Probe Oduduru qualifies for 200m s’final, Okagbare back for the longer sprint Duro Ikhazuagbe Following the poor handling of the beef between double Commonwealth Games sprint champion Blessing Okagbare, Divine Oduduru and the Athletics Federation of Nigeria (AFN) leading to the initial disqualification of the two medals hopefuls from the 200m of the ongoing IAAF World Championships, the

Technical Director of the federation, Sunday Adeleye, has been recalled home from Doha, Qatar. Although both sprinters were later reinstated to the championships’ 200m following Nigeria’s appeal on why both athletes made ‘No Show’ in the 100m heat on Friday, THISDAY learnt that Sports Minister, Sunday Dare, wants the matter investigated

Ndidi on Target as Leicester Hammer Newcastle 5-0 Super Eagles midfielder, Wilfred Ndidi was on the scorers’ sheet as Leicester City’s impressive start to the season under Brendan Rodgers continued with a 5-0 thumping win which left woeful Newcastle anchored in the relegation zone. Ndidi collected the ball in the box with his back to goal, spins and scuffs a low finish into the net for Leicester’s fifth goal against Newcastle. Ricardo Pereira’s outstanding low finish set Leicester on their way before Newcastle were reduced to 10 men shortly before half-time after Isaac Hayden’s terrible challenge on Dennis Praet. Leicester made the extra man advantage count with three goals in 10 second-half minutes. Jamie Vardy beat Martin Dubravka at his near post to double the lead and, after Paul Dummett had deflected Praet’s cross into his own net to make it 3-0, headed the fourth. Leicester move back up to third in the table, where they

started the weekend, after a fourth win in five league and cup games.Rodgers’ side are two points off second placed Manchester City and seven behind leaders Liverpool, who they visit next Saturday. Rodgers will have a spring in his step when he makes his first return to Anfield since being sacked by Liverpool in 2015. This was Leicester’s 10th - and almost certainly easiest - top-flight win in 18 games since they appointed Rodgers as boss in February. Rejuvenated and full of energy, they have been transformed by the former Celtic manager who took over a team drained of confidence and starved of wins seven months ago. Only Manchester City and Liverpool have accumulated more points than Leicester in the Premier League since Rodgers’ appointment and Newcastle can count themselves fortunate not to have been on the end of an even heavier thrashing.

Rangers Limp into CONFED Group Stage Nigeria’s flag bearers, Rangers International FC yesterday made it into the group stage of the 2019 CAF Confederation Cup after edging out Gabon’s AS Pelican. Rangers won the return leg 3-1 after carrying a 2-1 deficit from the first leg in Gabon. The Nigerian side thus advanced on a 4-3 goal aggregate. It was not an easy ride for the Nigerian side that has an antelope as its emblem. Unlike the antelope that gallops, Rangers barely limped into the group stage.

It was the Gabonese that drew the first blood, scoring through Dertin Amores after barely five minutes of the kickoff to double the advantage of the visiting side That gave the Gabonese a 3-1 advantage. But Rangers fought back and scored in the 18th minute through Ifeanyi George. The goal that put aggregate scores at 3-3 came in the 51st minute through Nnamdi Egbuhor before Ibrahim Olawoyin got the winner six minutes later.

over glaring administrative lapses and violation of IAAF rules and regulations. Both athletes had informed the AFN that they would not be running in the blue ribband race in order for them to concentrate on the longer sprint where their chances of podium placement was greater. But the minister who was reported to have followed developments in Doha till the early hours of Sunday morning was said to have

ordered the recall of the TD and probably start immediate investigation to establish the extent of negligence and administrative lapses that have brought international embarrassment to the country. IAAF rules state that, unless they’re injured or sick, athletes who withdraw after a certain deadline become ineligible for the rest of the championships. Okagbare later on Saturday told Associated Press that both she and Oduduru repeatedly told the AFN

Divine Oduduru...qualiďŹ ed for today’s semi ďŹ nal of the 200m

leadership that they had no plans to run in the 100. “It’s not the first time they’ve done a thing like this,� she said. “They deal with the African Games and national championships, but this is not Africa. We’re not running at national championships. “People here take the rules seriously and we keep bending them. It’s wrong. It’s incompetency. I feel like they’re wasting my World Championships. I don’t know

Blessing Okagbare...reinstated to run the 200m heat starting today

A H E A D T O K Y O P A R A LY M P I C S

Nigeria’s Para-lifters Ejike, Kehinde Get Citi Bank Support Duro Ikhazuagbe Two of Nigeria’s world parapowerlifting champions, Lucy Ejike and Paul Kehinde at the weekend joined 41 other para athletes from around the world to form ‘Team Citi’ ahead of the 2020 Paralympic Games scheduled to hold in Tokyo, Japan. Team Citi, a diverse group partnering Citi Bank is helping to change perceptions of persons living with disabilities. Ejike and Kehinde who as ambassadors of Citi Bank are to enjoy the support of the bank to a number of competitions

including the Olympics in Tokyo as well as the African Paralympic Games in Morocco. Speaking at the event at the Corporate Headquarters of Citi Bank on Kofo Abayomi Street in Victoria Island last Friday, Executive Director of the bank, Mrs. Nneka Enwereji, said that Citi has a history of supporting the Paralympic movement, starting with Team USA at the London Paralympic Games in 2012. “Through our partnership with the International Paralympic Committee (IPC), we are committed to changing the conversation around disability

so that these athletes can be defined by their heart and strength, not their supposed limitations. “This partnership allows us to advance our shared mission of creating a more inclusive society, in this case by enabling para athletes to achieve sporting excellence,� stressed Mrs Enwereji. She admitted that the dedication and passion of Lucy and Kehinde, as well as other para-athletes “inspire us to be at our best as we at Citi help our clients to achieve their own business and personal goals, and enable progress in their

Oshoala Scores as Barcelona Overcome Sevilla Super Falcons forward, Asisat Oshoala was on target as Barcelona comfortably dispatched Sevilla in the Liga Iberdrola on Sunday. Oshoala netted the second goal of the encounter after she robbed the opposing keeper of the ball and tapped home into an empty net with three minutes left to end the encounter.

Before then, Jennifer Hermoso had given the visitor a perfect start to the game when he smashed home the opener in the 38th minute Oshola’s goal against Sevilla was the fifth for the three-time African Women’s Footballer of the Year in all competitions this season after her stunning pre-season form, netting eight goals in five games.

how many more I have. I’m 30,� Okagbare stressed in the chat with the French wire agency at the Championship in Doha. Oduduru ran 20.40 in the heat to qualify as one of the three fastest losers that made in to the semi final. The time was a far cry from his PB of 19.76 that gave him the 2019 NCAA 200m crown. Following her reinstatement yesterday, Okagbare is to open her chase for medal in Doha in the 200m this morning.

L-R: President of Paralympic Committee Nigeria (PCN), Brig. Gen. Emico Eruwa; World Para-powerlifting Champion in 72kg, Paul Kehinde; General Secretary of PCN, Suleiman Isah; Sitting: World Para-powerlifting Champion in 61kg, Lucy Ejike; Executive Director, Citi Bank Nigeria Limited, Nneka Enwereji and Assistant General Secretary Odior Ketu Sunday at the launch of Team Citi in Lagos‌last Friday

communities.� In her reaction to the support from Citi Bank, Lucy Ejike expressed her happiness with the development, stressing that she was going to give her best to her career. “I am happy to be one of the 41 ambassadors of Citi Bank from across the world. I used to train on my own and only get government’s support when it remains few months to major competitions. But now that I have Citi Bank as my sponsor, Tokyo 2020 will be one of the best Games I have ever attended,� she pledged. While appealing to other corporate bodies to emulate Citi Bank’s support for para athletes, Ejike said it is now that Nigerian athletes need support not when they return from competitions with gold medals. “This is different because other organisations only wait for when you are successful to identify with you. Citi Bank is the first sponsors to come to us before a competition; they are here at the point of our need, which is the best time to identify with an athlete,� the world champion reiterated.

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MONDAYSPORTS IAAF WORLD CHAMPIONSHIPS

New Sprint King, Coleman, Defends Himself against Missed Dope Tests Christian Coleman defended himself against criticism over his three missed doping tests after his stunning win in the World Championships 100m final. The 23-year-old blew away his rivals to win his first major title in 9.76 seconds - the sixthfastest time ever. His win came just weeks after he avoided a ban for missed tests over a technicality. He said: “It’s sad when people say the things they say when they don’t really know me.� Dreams of winning gold in Doha appeared more distant in August, when the US

Coleman

Anti-Doping Agency charged Coleman with missing three drugs tests in 12 months. However, it then withdrew the case after it was proved there had been a filing irregularity regarding the date of the first missed test. “I have proved myself over the years to be a guy who does everything the right way,� added the American, who won silver two years ago. “All I can do is focus on myself and my family. I came out with a gold medal, I’m blessed.� In the interview with BBC World, he added: “Coming from where we come from, you’re not supposed to be here and be a world champion. From Atlanta. People don’t make it outside of that bubble, especially being a black man in America.� Compatriot Justin Gatlin, who has served two doping bans, produced an exceptional display to take silver in 9.89. The 37-year-old, who made his mark on the world stage with victory in the 100m at the Athens Olympics in 2004, said he now wants another crack at Olympic gold in 2020. “It’s surreal for me, it’s like my career is in reverse,� Gatlin told BBC World. “I felt like I arrived at the beginning of my career and now I have crossed that finishing line so many times I am just thankful. “I find motivation from the fans, they still wish me well. I’ve got a few races left in me. Hopefully I’ll be in Tokyo - I don’t get a bye for that one so I’ll have to run hard.�

ZENITH WOMEN LEAGUE

Conference Phase Starts in Abuja, Ibadan The Conference phase of the ongoing Zenith Bank Women’s Basketball League is scheduled to begin today in two centres in Abuja and Ibadan respectively. Each of the two cities will host eight teams with four expected each expected to qualify for finals billed for Lagos at a date to be announced later by the Nigeria Basketball Federation. The Secretary General of the NBBF, Afolabi-Oluwayemi Olabisi said the 16 teams involved in this stage of the competition qualified from the first and second phase competitions which took place in four centres nationwide. The 16 teams have been drawn into the traditional Atlantic and

Savannah Conferences. In the Savannah Conference, new entrant, Nigerian Army Amazons who remained unbeaten after 12 games will face Kaduna Angels, Taraba Hurricanes and Adamawa Flames who all emerged from the Zaria Centre. Other teams in the Savannah Conference include Air Warriors Nigerian Customs, Plateau Rocks and Black Gold Queens. In the Atlantic Conference in Ibadan, First Bank under Lateef Erinfolami and the Peter Ahmedu tutored Dolphins Basketball Club will continue their rivalry for a place in the continue with a battle for a place in the National Final 8.

Sepp van den Berg (left) was one of the five new players Liverpool Manager Jurgen Klopp handed their first team debut against M.K. Dons

Liverpool Face Carabao Cup Expulsion as EFL Launches Ineligible Player Investigation Liverpool are at risk of being kicked out of the Carabao Cup this season after allegedly fielding an ineligible player during their 2-0 win over MK Dons. The identity of the player is still unknown, but Liverpool have confirmed that they’re working with the authorities to help identify the possible administrative issue. “The club are aware of a potential administrative issue pertaining to one of our players,� a Liverpool spokesperson told The Athletic . “ We are working with the relevant authorities in order to establish the facts of the matter and will be making no further comment until this process is complete.� If it’s found that Liverpool did breach rules over player eligibility during their 2-0 win over MK Dons then they

could face being kicked out of the competition, as Carabao Cup rules state that they can impose “ penalties by way of reprimand, fine or other penalty (or any combination thereof)â€?. This isn’t the first time that a club has been investigated for using an ineligible player during a league cup campaign, although Sunderland escaped with just a fine when they used Ji Dong-Won without the necessary clearance following his loan spell at Augsburg in 2014. Five players were handed their first-team debuts against MK Dons last week as goals from James Milner and KiJana Hoever sealed the win for JĂźrgen Klopp’s side, which included Caoimhin Kelleher, Rhian Brewster, Harvey Elliott, Herbie Kane and

Sepp van den Berg. Pedro Chirivella also made his first senior appearance in

Bayelsa Wins National Lottery Commission 5-A-Side Tourney Bayelsa State has emerged champion of the 2019 National Lottery Commission Staff Union 5-A-side football tournament, which came to a grand finale weekend in Lagos. Playing against the pretournament favourite, Benin office inside the mainbowl of the National Stadium, Lagos, the Bayelsa side went into the game with a solid game plan that saw it come from a goal down to draw level at 1-1, before going on to win the giant trophy on 8-7 penalties. In a breathless match watched by the Director-General of

Tennis Club abuzz for two weeks. The men’s tournament is known as M25+ Lagos while W25+ Lagos is for the women’s version which would be played concurrently. The 28-year-old Jomby has enjoyed success in Nigeria by clinching the Dayak Open Nigeria F2 Futures last April and will be aiming for a

National Lottery Commission, Lanre Gbajabiamila and other top directors of the agency, which regulates betting, lottery and sports betting in the country, Benin office, dictated the tone of the game, attacking the goal end of its opponents from the Niger Delta region but unable to break the deadlock. Propped up by its teeming supporters, who came all the way from Benin City to support the team, the Edo side finally got due rewards for its attacking forays, scoring the opener five minutes into the second half.

WA F U N AT I O N S C U P

Togo’s Sparrows Bring Down Home-based Eagles Femi Solaja Barely one week after Nigeria suffered a humiliating 4-1 defeat to Sparrows of Togo, Home-based Eagles also last night failed in their quest for a revenge with another 1-2 loss to the same team this time on a neutral ground in Senegal at the WAFU Nations

Cup tournament. Last Sunday, the Togolese did the unexpected, inflicting a 4-1 win over the Nigerian side in the first leg of final qualifying round of CHAN tourney that will hold in Cameroon. But as Nigeria still hope to comeback for the woeful defeat, fate pitched the two

sides together last night in the WAFU tourney with the French colonized nation coming out victorious again. Togo opened score in the 16th minute through Moise Kossivi Adjah but Nigeria restored parity in the 33rd minute through Sikiru Alimi but the Home-based Eagles conceded another goal in the

Jomby, Setkic, Garaganga Lead Stars to 2019 Lagos Open Tom Jomby of France would be making a return to seek for another glory at the 2019 Lagos Open scheduled to serve off on October 7 – 20. Bosnian Aldin Setkic, Zimbabwean Takanyi Garaganga and Benjamin Lock are also among the regular faces in the ITF World Tour that would keep the hard surface of the Lagos Lawn

over three years after spells away from Anfield on loan in Spain and Holland.

another title in Nigeria. He is however poised to face stiff competition from the likes of Setkic, who will also be making a return to the double phase $100, 000 + hospitality prize money tournament after his last appearance in 2005. Like Jomby, Setkic has won the tournament in 2015. With 27 ITF titles under his

belt, the 31- year-old Setkic is the most decorated player among the over 60 foreigners that would jostling for vital points at the former Nigerian capital. A host of Nigerian players will also be contesting for glory with Sylvester Emmanuel, Joseph Imeh, Paul Emmanuel and Mohammed Mohammed

all listed for the main draw of the first week, while for the women’s version, Oyinlomo Quadre, who undoubtedly is Nigeria’s hottest talent, will lead the quest for a memorable outing alongside Sarah Adegoke, Blessing Samuel, Aanu Aiyegbusi, Blessing Anuna, Oiza Yakubu among others.

43rd minute and stayed in deficit till the end of the half. In the second stanza, Nigeria made several efforts to restore parity again but the well organised defence line of the Togolese refused to back down. The result of the match means Togo qualify for the Cup competition while the Eagles are relegated to the Plate zone. Meanwhile, both teams will meet again in the outstanding second leg of the CHAN final qualification next week at the Stephen Keshi International Stadium in Asaba where Nigeria must score three goals without conceding to be sure of qualification into the final tournament in Cameroon next year. The Nigerian lads were finalists to Morocco as host of the last tournament.

MONDAY SEPTEMBER 30, 2019 • T H I S D AY

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Monday September 30, 2019

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MISSILE

Catholic Bishop to FG

“Anybody who cares for this country must be concerned about what is happening today regarding insecurity. What is happening in the North-east, which has crept into the North-west, South-east and South-west, is becoming alarming” – Catholic Bishop of Kaduna Archdiocese, Most Reverend Mathew Ndagoso, asking President Muhammadu Buhari to ensure protection of lives and property in the country.

ALEXOTTI OUTSIDE THE BOX

alex.otti@thisdaylive.com

My Ministry is Jucier Than Yours

L

et me start with a fairly old story which was recently repackaged and circulated on the social media. It’s about two friends; one Nigerian and the other from an Asian country. The Nigerian paid a visit to his friend who had been appointed a minister a few years earlier and was surprised at the magnificent house that his friend had built for himself. He asked him how he made the money to build such a house. The minister took him to his balcony and pointed to a well paved road. He then said, ‘90% for the road and 10% for the house.’ It did not end there because a few years later, it was the turn of the Nigerian who had now been made a Minister, to host his Asian friend, who, to his chagrin, had built an even more luxurious mansion that made that of his Asian friend look like a mere cottage. The house was finished with expensive granite, the fittings were out of this world with eye-popping Italian furniture. His befuddled guest asked him how he managed to fund such an edifice . The Nigerian then took him to his own balcony and pointed at an untarred road. He then quipped, ‘0% for the road, 100% for the house!’. This story may be one of such stories popularly referred to as “fabu” or tales by moonlight, but then fiction is often the best way to tell a true story. Just about a month ago, President Muhammadu Buhari swore in the 43 member cabinet ministers following their confirmation by the Senate. It was a celebration of some sorts for many of the appointees as they were hosted to multiple parties and receptions. Not a few organized thanksgiving services to mark their appointment. One of the ministers, name withheld, did not see any reason to celebrate. In fact, he was not happy with his posting. He was expecting an appointment to what is now known as a “juicy” ministry. A few intimate friends were even more unhappy. They had positioned themselves to take advantage of the expected position, which blew up in their faces when the minister missed the desired posting. But of course, it is not in our character to resign or decline an appointment even when we are unhappy with it. Perhaps, the few exceptions one can remember include Ochiagha Ebitu Ukiwe, Prof. Lesley Obiora, Chief Ebitimi Banigo, and Dr. Ngozi Okonjo-Iweala. One of the more remarkable ones was that of Mr. Udoma Udo Udoma. He had contested and won an election into the Senate. President Obasanjo subsequently nominated him for a ministerial position. When it turned out that he was assigned a portfolio as Minister Of State which some people refer to as Junior Minister, Mr Udo Udoma declined the appointment, preferring to remain in the Senate. He was to be nominated again in 2015 as Minister of Budget and Planning in the last Cabinet, a position he held until the end of the first term of President Buhari’s government, early this year.

Buhari

The term “juicy” seems to have gained currency since the beginning of the fourth republic. And it is not just used for appointments to the Cabinet, it also applies to the legislature. So, you would hear of appointments into “juicy” Committees in both House of Representatives and the Senate. Sometimes, the lobby to be appointed to “juicy” committees becomes so intense that some of us begin to worry what exactly is in it? How did we come by that word in the first place? What exactly do we intend to communicate? Common sense understanding of the word “juicy” points to something that has a lot of juice and therefore sweet to eat. A juicy fruit would refer to a fruit that has very succulent contents that can be squeezed out or extracted and the essence of juicing is consumption. So, even before the appointments are made, we have already taken the position that the appointee is going there to juice the ministry or committee. Expanding it further, it can be understood that the whole essence of such appointments is not service to fatherland, but extracting the sweet part of the ministry or committee for the benefit of the appointee and his cronies. This, sadly, is the understanding of both the appointees and their relations and friends. That being the case, it should not surprise us why people go into a frenzy when appointments are being made. Even President Buhari himself fell into this same juicy trap when he visited Kaduna State shortly after swearing in the ministers. Speaking at the palace of the Emir of Zazzau, Shehu Idris, during a courtesy visit on Wednesday, August 21 this year, the president was quoted to have said: “Kaduna and Kano are the only two states I gave two substantive positions in my council. So, I have appreciated your votes and paid you back by giving you Ministers of Environment and Finance.” The point here is that across the entire spectrum of the Nigerian society, there seems to be the understanding that it is neither competence nor skills that are

important in assigning responsibilities and positions to appointees of government. On the contrary , the overriding consideration is putting favoured ones where they can go to extract ‘juices’ from their positions. I believe this is at heart of the problem of this country. Until we begin to see appointments for what they are supposed to be, service, we will hardly make progress. Another issue that gives cause for concern is the manner in which functions are sliced and diced when these appointments are being doled out. One of the most intriguing ones in President Buhari’s first term was the lumping of Power, Housing and Works in one Super Ministry. The jury is still out on how that worked judging from the challenges that still face us in those three key sectors of the economy. Again, looking at the appointments this time, some of us were surprised at the merger of the Finance Ministry with Ministry of Budget and Planning. There is no gain saying that these are very large and important ministries that were separate in the first tenure of the Buhari Administration. It may be a very tough one for the minister to deal with. We were also worried that there were no economic experts in the cabinet. Granted that two of the ministers, Ministers of State for Transport and that of Budget and planning have degrees in economics, one does not see them as practitioners as such, going by what they were doing in the past. Given the enormity of the economic challenges we are facing, we expected to see more subject matter experts in the cabinet. Only recently, the National Bureau of Statistics (NBS) released its report for the second quarter of this year. One instructive point is that the economy contracted for the second time this year. While GDP growth dropped from 2.38% in Q4 2018 to 2.10% in Q1 2019, we recorded yet another drop to 1.94% in Q2, 2019. Recall that our projected growth rate for the economy for this year is 3%. It should be pointed out that this rate is just about the population growth rate, if not slightly lower. This then amounts to a negative growth in the real sense of it. It should also be of note that average daily oil production equally dropped marginally from 1.99 million barrels per day in Q1 2019 to 1.98 million barrels per day in Q2 2019. Agriculture, which has been promoted as a major diversification sector, also lost ground in Q2 2019, as it grew by 1.79%, compared to the 3.17% growth it recorded in Q1 2019. Official unemployment rate still remains at a staggering 23% with over 22 million people out of job. Revenue remains very low and our debt profile has remained at such levels that we spend over 60% of our national revenue to service debts. Poverty levels have remained high with close to half our population living below poverty line. Meanwhile, in the face of imminent economic crisis we are proposing an increase in VAT rate. Those who understand economics will tell you that you don’t increase taxes when the

economy is depressed, otherwise you will precipitate more crises. We should actually be doing the opposite. This is just one out of the several policy areas that thoroughbred economists can help the government with. We, however, commend the President for setting up an economic advisory council, headed by the erudite Prof. Doyin Salami. Those familiar with this column will recall that on October 18, 2016, yours truly had advised the President to set up an economic team. In the article titled “Mr. President, You Do Need An Economic Team” we had insisted that given the serious challenges facing the country at that time, many of which remain till today, the President needed to set up a crack team to advise him on the economy. We went further to suggest names which were sent to the President privately. I am glad that no less than three of the names we suggested made it to the list, even if it came three years late. I have no doubt that the team would do a good job given the pedigree of the members who are some of the best brains in the subject matter. It is important that the council hits the ground running immediately. Some major areas that one would expect the team to quickly brainstorm on will include such issues as dwindling revenue of the government and the ballooning national debt, its service and sustainability. They may also wish to look at the structure of the government itself and advise on how best to prune down government expenditure to the barest minimum. A situation where 70% of our budget still goes into recurrent expenditure is unsustainable. Job creation also has to be on the front burner, given the level of unemployment in the country. The issue of monetary and fiscal policies cannot be overemphasized as priority areas. Of course we had highlighted our concern with taxation earlier and we believe It should not be overlooked. They may also like to look at subsidies generally. This would include the persisting subsidies that exist in the oil and foreign currency sub-sectors of the economy. There is an agreement that even in the face of dwindling revenue, we have continued to ‘protect’ the value of the Naira against foreign currencies. Can revenue be boosted by removing the subsidies on Petroleum products and selling our hard earned foreign currency at market rates? I am sure the council will have a whole lot more on its plate but members have the appetite and experience to eat up whatever menu is placed before them. Our prayer is that the President and his government would heed the advice of the professionals appointed to the team. The President should also prepare to make some difficult decisions as one can predict that the council will come up with some news that may not sound so sweet to the ears of the President, but that is the nature of economics. Finally, please permit me to use this opportunity to wish fellow Nigerians a happy 59th independence anniversary.

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