MONDAY 12TH SEPTEMBER 2022 by THISDAY Newspapers Ltd

Mourners Pay Respects as Queen Elizabeth II's Funeral Procession Begins Coffin arrives Edinburgh Queen Elizabeth's coffin arrived in Edinburgh yesterday, after a six-and-a-half-hour journey from her summer home in the Scottish Highlands, past tens of thousands of mourners lining the route, many in sombre silence, some applauding

and others in tears. At the end of its slow journey through picturesque Scottish countryside, villages, small towns and cities, soldiers wearing kilts carried the coffin to the throne room of the Palace of

Holyroodhouse, Elizabeth's official Scottish residence, where it will remain overnight. In an emotional tribute to his mother on Friday, the queen's eldest son and the new monarch, King Charles, said she had begun

a "last great journey" to join Prince Philip, her husband of 73 years who died last year. Earlier, the hearse carrying the oak coffin emerged from the gates of Balmoral Castle, where she died on Thursday aged 96, at the start

of the drive to the Scottish capital, according to Reuters. Her coffin was draped in the Royal Standard of Scotland with a wreath on top made of flowers taken from the Balmoral estate including sweet peas, one of

Elizabeth's favourites. Crowds, fifteen deep in places, massed in the centre of Edinburgh to greet the cortege as it made its way to Holyroodhouse, where it Continued on page 5

Atiku Presents Policy Plans at Editors' Forum Tomorrow...

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FG Asks Court to Order Lecturers Back to Work Report: Nation’s public universities grossly understaffed Reveals some institutions have just two professors, five doctoral degree holders

Onyebuchi Ezigbo in Abuja and Dike Onwuamaeze in Lagos The federal government has referred the prolonged strike embarked upon by members

of the Academic Staff Union of Universities (ASUU) to the National Industrial Court of Nigeria (NICN) for adjudication. This followed the failure of dialogue between the union and

the Federal Ministry of Education. The government requested an order of the court for ASUU members to resume work in their various universities while the issues in dispute were being

addressed by the NICN in line with the provisions of Section 18 (I) (b) of the TDA Cap T8. LFN 2004. A statement by the Head, Press and Public Relations,

Federal Ministry of Labour and Employment, Olajide Oshundun, said the demand was contained in a referral instrument addressed to the Registrar of NICN, dated September 8,2022, and signed

by the Minister of Labour and Employment, Senator Chris Ngige. In the matter billed for mention at 9am today, the Continued on page 5

Report: Nigeria’s $15.7bn 2022 Fuel Subsidy Projection to Exceed All 36 States’ Budget Monthly stolen oil equivalent to budgets of Osun, Kwara, Ekiti NNPCL loses $700m monthly to crude oil theft Wants quick legal framework, stiffer sanction for criminals Deji Elumoye and Emmanuel Addeh in Abuja With Nigeria’s petrol subsidy bill skyrocketing in 2022, the estimates for the whole year would exceed the total expenditure by all the states of the federation in 2021, which was $9.8 billion, a new report by a member of President Muhammadu Buhari’s Economic Advisory Council and Chief Executive Officer of Financial Derivatives Company Limited (FDC), Mr. Bismarck Rewane, has indicated. The report came as the Nigerian National Petroleum Company Limited (NNPCL) yesterday maintained that crude oil theft was taking a severe toll on its performance. NNPCL disclosed that it lost 470,000 barrels of crude oil per day, which amounted to about $700 million monthly, saying this is Continued on page 5

LEAP AFRICA'S 20TH ANNIVERSARY... L-R: Chairman, Nigerian Breweries Plc, Chief Kolawole Jamodu; Founder, LEAP Africa, Mrs. Ndidi Nwuneli; Managing Director, NB Plc, Mr. Hans Essaadi, and Legal Director/Company Secretary, Mr. Uaboi Agbebaku, during the presentation of Impact Partner award to NB Plc by LEAP Africa at the LEAP Africa's 20th Anniversary Gala and Award nite celebration held in Lagos…recently

Ubah Escapes Assassins' Bullets, Security Aides, Others Killed in Deadly Attack...

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Atiku Presents Policy Plans at Editors' Forum Tomorrow The presidential candidate of Peoples Democratic Party (PDP), Atiku Abubakar, will tomorrow in Lagos appear at the Nigerian Guild of Editors' Forum to present his policy plans for the country. A statement by NGE's President, Mr. Mustapha Isah, and General-Secretary, Mr. Iyobosa Uwugiaren, yesterday, said the forum was intended for editors to interrogate the presidential

candidate on the policy options he would be presenting to Nigerians as the country prepared for the 2023 general election. The statement read, "One of the fundamental issues that featured prominently during our Editors' Training Workshops and Town Hall Meetings, held across the six geopolitical zones early this year, with the theme: ‘Media and the Task of Consolidating Nigeria’s

Democracy,’ was the need for Editors to thoroughly interrogate the democratic landscape. “This comprises the political actors: the electoral body, the candidates for elections, the security agencies, the political observers and the electorate, ahead of the 2023 general election. The whole idea is for the media to put all the political actors and other stakeholders on their toes

and provide the electorate with useful information to enable them make informed decisions before, during and after the 2023 general elections.” It revealed that letters had been sent to many political actors to be part of the engagement. It said, “We wish to invite all members of the NGE to participate in the first edition

of the Editors’ Forum on the 2023 general elections, which holds on Tuesday, September 13, 2022 at Colonnades Hotel, 21 Alfred Rewane Road, Ikoyi, Lagos by 6 pm. “The guest speaker for that day is the presidential candidate of the PDP, Alhaji Atiku Abubakar. He is expected to entertain questions from editors on his policies, programmes, as

well as the manifesto of his party. “The Guild believes that the forum offers candidates an opportunity to engage media leaders on details of their plans and programmes if elected into into office. Please, note that the event is at the instance of the NGE and solely funded by us. We, therefore, enjoin our members to fully participate in the event and be punctual."

academic staff in the services of the universities than the teaching staff they were meant to support. It said that had created “a scenario in which the tail is wagging the dog, as more expenditure is incurred in administration and routine functions than in core academic matters. “Over 70 per cent of nonteaching staff do not have a first degree, showing low professionalism or unqualified personnel in specific roles within the universities.” The committee’s report, which was submitted to the federal government on November 1, 2012, a copy of which was obtained by THISDAY at the weekend, offered insights that could help in resolving the crisis that has kept the university gates locked for almost seven months. It stated that many lecturers, including professors, shared small offices while open-air sports pavilions, old cafeteria, convocation arenas, and even uncompleted buildings were used for lectures; and in some cases, workshops were conducted under corrugated sheds or trees. The eleven-man committee’s membership included Executive Secretary of Tertiary Education Trust Fund (TETFund); representatives of the Senate and House of Representatives; Office of the Secretary to the Government of the Federation; Ministries of Education,

Finance, and Trade and Investment; National Planning Commission; National Universities Commission (NUC); and then President of ASUU, Professor Ukachukwu Aloysius Awuzie. It noted, “So much pressure is put on existing facilities mainly due to unplanned expansion of programmes” in the public universities. The committee lamented that the current enrolment into public universities in Nigeria “is a reversal of the national policy, as the current science to non-science ratio is 32:68 instead of 60:40.” In addition, “There is no relationship between enrolment and the tangible manpower needs of the nation,” the report said. It captured the state of Nigerian universities, thus, “students sitting on bare floor or peeping through windows to attend lectures; over 1000 students being packed in lecture halls meant for less than 150 students; over 400 students being packed in laboratory meant for 75 students; students cannot get accommodation, where they get they are packed like sardines in tiny rooms; no light and no water in hostels, classrooms and laboratories and that students use the bushy areas of their campus for toilet because lavatory facilities are too hazardous to use.” Other problems, according to the committee, include “broken furniture everywhere, unkempt buildings and dilapidating facilities” as well as “over-worked, untrained, and inadequate teachers, etc.” It stated that these were actually symptoms of the real problems, which “are the quality of leadership and governance in the universities.” The committee stated that some university administrators “spend millions to erect super-gates when their libraries are still at foundation level; expend millions to purchase exotic vehicles for university officers even though they lack basic classroom furnishings; spend hundreds of millions in wall-fencing and in-fencing when students’ accommodation is inadequate and in tatters.” The committee also stated that in the course of its assignment, it found that majority of the

universities in the country were, “Grossly under-staffed, rely heavily on part-time and visiting lecturers, and have under-qualified academics, and only a few of them attract expatriate lecturers but have no effective staff development programme.” It added, “Based on the available data, there are 37,504 academics in Nigerian Public Universities (in 2012) that were saddled with teaching 1,252,913 students. The teaching staff-students’ ratio is as much as 1:363 in some universities. “Instead of having 100 per cent of the academics having PhDs, only about 43 per cent do so. The remaining 57 per cent have no PhDs. “Instead of having 75 per cent of the academics between senior lecturers and professors, only about 44 per cent are within the bracket while the remaining 56 per cent are not.” The report added, “Only seven universities have up to 60 per cent of their teaching staff with PhD qualifications…there are universities in which the total number of professors is not more than five. And total number of PhDs in the whole university is not up to 30.” The committee lamented the increasing culture of visiting lectureship’ in the university system. It stated that out of a total of 37,504 lecturers, only 28,128, representing 75 per cent, were engaged on full-time basis, implying that 9,376 are recycled as visiting, adjunct, sabbatical and contract lecturers. It said, “Some academics are always on the road travelling from one university town to another and unable to meet their primary obligations with their tenure-employer. “It is making some proprietors of state universities to believe that they can run universities without any programme for academic staff development and for recruiting full-time lecturers. “No Nigerian academic is in the league of Nobel Laureates or a nominee of Nobel Prize. “There are only two registered patents owned by Nigerian academics in the last three years,” as at 2012.

FG ASKS COURT TO ORDER LECTURERS BACK TO WORK federal government asked the NICN to inquire into the legality or otherwise of the on-going prolonged strike by the ASUU leadership and members that had continued even after apprehension by the Minister of Labour and Employment. It asked the court to interpret in its entirety the provisions of Section 18 LFN 2004, especially as it applied to the cessation of strike once a trade dispute was apprehended by the Minister of Labour and Employment and conciliation was ongoing. Other requests included that the court should "Interpret the provisions of Section 43 of the Trade Dispute Act, Cap T8. LFN 2004, titled, ‘Special Provision with Respect to payment of wages during Strikes and Lock-outs,’ specifically dealing with the rights of employees/workers during the period of any strike or lock-out. “Can ASUU or any other union that embarked on strike be asking to be paid salaries even with clear provisions of the law. "Determine whether ASUU members are entitled to emoluments or ‘strike pay’ during their period of strike, which commenced on February 14, 2022, more so in view of our national law as provided in Section 43 of the TDA and the International Labour Principles on the right to strike as well as the decisions of the ILO Committee on Freedom

of Association on the Subject. "Determine whether ASUU has the right to embark on strike over disputes, as is the case in this instance, by compelling the federal government to employ its own University Transparency Accountability Solution (UTAS) in the payment of the wages of its members as against the Integrated Payroll and Personnel Information System (IPPIS) universally used by the federal government in the nation for payment of wages of all her employees in the federal government Public Service of which university workers including ASUU members are part of or even where the government via NITDA subjected ASUU abd their counterpart UPPPS university payment platform system software to integrity test (vulnerability and stress test) and they failed." The federal government further asked the court to determine the extent of ASUU's demand since the 2020 Memorandum of Action (MOA) that the union signed with government. The demands included the funding for revitalisation of public universities as per 2009 agreement, Earned Academic Allowances (EAA) payments, state universities proliferation and constitution of visitation panels, and release of white paper on the report of the visitation panels. The others were the reconstitution of the government

renegotiation team for renegotiation of 2009 agreement, which was renegotiated 2013/2014, due for renegotiation 2018/2019, and the migration of ASUU members from IPPIS to its own UTAS, which is currently on test at NITDA. Meanwhile, as parents and students of Nigeria’s public universities worry that there might be no end in sight to the disagreement between the federal government and ASUU, a report by the Committee on Needs Assessment of Nigerian Public Universities (CNANPU) that was set up by the government to carry out a detailed appraisal of the existing situation in the universities and the requirements for their transformation, revealed that Nigeria’s university system had a manpower crisis. CNANPU also reported that the physical facilities for teaching and learning in Nigerian universities were inadequate, dilapidated, over-stretched, over-crowded and used beyond their original carrying capacity. The committee noted, “Academic culture is dying very fast” in the public universities, as “library facilities and services are archaic and comatose (while) many laboratory equipment are only known to students in theory (who) never seen many of them not to talk of using them.” It also observed that there was numerically more non-

REPORT: NIGERIA’S $15.7BN 2022 FUEL SUBSIDY PROJECTION TO EXCEED ALL 36 STATES’ BUDGET in addition to security challenges that hinder oil production in some terminals. Group General Manager, National Petroleum Investment Management Services (NAPMS), Bala Wunti, made the revelation during an interview with journalists in Abuja. Rewane maintained that the petrol subsidy policy remained economically costly. The economist, in the latest edition of his monthly Breakfast Meeting report held at the Lagos Business School (LBS), noted that while between 2015 to 2020, $5.5 billion was spent on subsidy, in 2021 alone it went up to $3.8 billion, and $6.2 billion in just the first quarter of 2022. He stated that despite the increase in money available to the Federation Account Allocation Committee (FAAC), even without contributions from the oil sector, many states continued to pile up debts, with frequent defaults in salaries and pensions. The report said the huge subsidy payments would account for more than half of the N11 trillion budget deficit, which the federal government projected for 2023. In 2021, according to FDC, all the 36 states spent the equivalent of $9.8 billion, nearly half what the country would spend this year to cover the petrol subsidy payments, largely seen as opaque. It estimated that with a mere hike of the price of petrol to N215 per litre by December, the federal government could save as much as N1.25 trillion. In addition, it stated that the federal government could rake in at least N600 billion by adjusting the exchange rate to N470 per dollar, but admitted that removing subsidy could be politically undesirable. FDC suggested some pathways to fuel subsidy removal as discontinued fixing of prices, opting for gradual removal, and abandoning national uniform

pricing, stressing that subsidy administration has been largely abused. With oil theft and illegal bunkering taking as much as 400,000 barrels per day of the country’s oil production, Rewane said as much as $1.2 billion was lost to the menace every month, which was the combined budget of Osun, Ekiti and Kwara in 2021. The federal government recently put the current daily spend on maintaining the petrol subsidy at N18.4 billion for 2022. Last week, Director General of the Budget Office of the Federation, Mr. Ben Akabueze, in an interview, suggested that Nigeria might seek relief from the International Monetary Fund (IMF) if it was unable to address its fiscal challenges. Akabueze had said, “Essentially, there are two ways countries end up with the IMF. One is voluntary, when they ask IMF for help, or when things get to the grind, where they simply have no other option. “I don’t see Nigeria going to the IMF voluntarily. It’s a hot issue here in Nigeria. But the honest truth is that if we don’t address our fiscal challenges in a sensible and sustainable matter, we may end up unwillingly with the IMF.” He, however, stated that Nigeria was not at that desperate situation yet. Akabueze had added, “We are not there yet. But we could as much stop digging. There is a maxim that if you find yourself in a pit, you should stop digging and start climbing out. “If we continue to fund regressive deficits, it is tantamount to continuing to dig. If we continue to pass on reasonable opportunities to increase revenues by introducing taxes, it is tantamount to continuing digging. “Even though I said we should not cut expenditure in total, we

need to get more efficient in our spending. If we don’t do that again, it is tantamount to continuing to dig.” But continuing in the report, Rewane said the country might soon experience increased oil sales, courtesy of the contract recently awarded to ex-militant, Mr. Government Ekpemupolo, also known as Tompolo, which was worth about $1.08 billion in a month. The report also put average inflation rate for the last five years at 14.38 per cent, relative to the global average of 3.78 per cent and Sub-Saharan Africa average of 9.65 per cent. Nigeria emerged the country

with eighth highest inflation rate in Sub-Saharan Africa and 25th highest in the world, with price rises mainly driven by higher energy and food prices, the report said. FDC added that the naira had lost at least 94.87 per cent of its value in five years, crossing N715/$, before falling to N645/$ recently, and now trading at N703/$. Last week, the Organisation of Petroleum Exporting Countries (OPEC) and its allies slashed Nigeria’s production for the month by 4,000 barrels per day, to 1.826 million bpd, as against the 1.830 million bpd allocated in September. But Nigeria had even before Continued on page 51

MOURNERS PAY RESPECTS AS QUEEN ELIZABETH II'S FUNERAL PROCESSION BEGINS was met by a military guard of honour. The queen's daughter Anne, flanked by the queen's younger sons, Princes Andrew and Edward, curtsied as the coffin was carried inside by soldiers from the Royal Regiment of Scotland. "There was no way I could miss this. I would regret it for the rest of my life," Reuters quoted Eilidh Mackintosh, 62, who left her home at 6 a.m. to be sure of a good view among the large crowds on Edinburgh's famous Royal Mile, to have said. Rachel Lindsay, 24, was left in tears as the coffin passed. "It’s just very sad," she said. "I don’t think we expected it to ever happen. I just thought she’d live forever. I didn’t think it was real until I saw it." The journey from Balmoral was the first of a series of events leading up to the state funeral at Westminster Abbey in London on September 19. Her death has drawn tears, sadness and warm tributes, not just from the queen's own close family and many in Britain, but also

from around the globe - reflecting her presence on the world stage for seven decades. Wherever the cortege went, people lined the road or stopped their cars to get out and watch. At one point, it passed a guard of honour formed by dozens of tractors lined up in adjacent fields by farmers. Many watched silently in bright sunshine. Some threw flowers into the road. For others, the emotion of the moment moved them to tears. Many thousands are continuing to gather at the royal palaces across Britain, bringing bouquet after bouquet of flowers. In Green Park near London's Buckingham Palace, where some of the tributes were being taken, long lines of bouquets snake around the park allowing mourners to read the tributes. Other well-wishers have attached their messages of condolence to trees. Charles became king immediately after his mother's death and was officially proclaimed the new monarch at a ceremony on Saturday, full of pageantry and

centuries-old traditions. read more Similar proclamations are following across the United Kingdom and the other 14 realms of which Charles is now head of state, including Australia, Canada, Jamaica, New Zealand and Papua New Guinea. read more Canada's Prime Minister Justin Trudeau said parliament would be recalled on Thursday to allow members to pay tribute. The queen came to the throne following the death of her father King George VI on February 6, 1952, when she was just 25. Her coronation took place a year later. While Elizabeth's death was not totally unexpected given her age and deteriorating health, there was still a sense of shock at the news. The highly-choreographed mourning plans will continue on Monday. Charles would join the other senior royals in Edinburgh when the coffin would be taken in a procession from Holyroodhouse to the city's St Giles Cathedral for a service. There it would remain for 24 hours to allow people to pay their last respects and the new king and

members of the royal family will also hold a vigil. The day of the queen's funeral would be a public holiday in Britain, officials have announced. U.S. President Joe Biden said he would be there, although full details of the event and the attendees have not yet been released. Before that, her coffin would be flown to London and there would be a sombre procession when it is later moved from Buckingham Palace to Westminster Hall to lie in state for four days. "It goes without saying that we can expect large numbers of people," a spokesperson for Prime Minister Liz Truss told reporters. Truss, whose appointment as prime minister on Tuesday was the queen's last public act, would join King Charles as both the new head of state and prime minister tour the four nations of the United Kingdom in the next few days. read more Charles, 73, is now the 41st monarch in a line that traces its origins to the Norman King William the Conqueror who captured the English throne in 1066.

T H I S D AY • MONDAY, SEPTEMBER 12, 2022

NEWS

Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 08074010580

WHAT'S ON THEIR MINDS?... Former Military Head of State, General Abdulsalami Abubakar (left) with Governor Muhammadu Inuwa Yahaya of Gombe State, during the Governor's visit to the former Head of State at his country home in Minna, Niger State… yesterday

Evacuation Constraint Has Halted Oil Production, Storage Tanks Now Full to Brim, PENGASSAN Laments Warns oil thieves may soon migrate to Lagos Blames lack of consequence management, enforcement of intelligence reports for persistent oil theft Peter Uzoho In a fresh revelation, oil workers under the aegis of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) have declared that oil companies have been forced to stop production due to evacuation challenge and the running out of storage capacity resulting from oil theft and pipeline destruction. The revelation came at a time Nigeria was in dire need of growing its oil production in order to benefit from the current high crude oil price hovering around $100 per barrel as well as to boost the nation's foreign exchange earnings and the economy.

The Chairman of PENGASSAN, Lagos Zone, which is made up of the six South-west states and Kwara State, Mr. Eyam Abeng, told THISDAY during a phone chat while giving update on the union's nationwide rally against oil theft, that, "production can no longer continue because tanks are filled to the brim." Warning that oil thieves and vandals might soon migrate from their Niger Delta base to Lagos State, which is now an oil producing state, Abeng, however, blamed government's failure to punish identified perpetrators of oil theft and pipeline vandals through consequence management and enforcement of intelligence reports for the

Edo Has Third Highest Number of Licences for Solid Minerals Exploration, Says Commissioner Edo State has the third highest number of licences for solid minerals exploration and the state government has said it remains committed to partnering stakeholders in the mining industry to increase production in the sector. The Edo State Commissioner for Mining, Oil and Gas, Ethan Uzamere, was quoted in a statement to have disclosed this during a 2-day stakeholders’ meeting. According to him, the state government has plans to explore model Public Private Partnership (PPP) arrangements to increase productivity in the sector. According to him, “Edo has the third largest number of licenses for mining only behind Kaduna and Nasarawa. We need all stakeholders to collaborate and harness the potentials in the sector.” He noted that the stakeholders’ session was to increase investment in the sector. “This forum is an opportunity to understand where we were, where we are, and what is required to move the sector forward. “In addressing these gaps,

we must look critically into developing a state mining policy, adding value to licenses already issued to investors in Edo State and taking full advantage of the state’s security architecture to guarantee production volumes. “We are already working to reduce the number of illegal operations in the sector, taking advantage of the harmonised system of revenue and pushing for more Public Private Partnership arrangement.” The Commissioner reiterated the state government’s commitment to ensuring a well organised mineral mining sector, which is key to the diversification policies of the government as mining in the nearest future is likely to overtake crude oil exploration. “This is why efforts are being made to strengthen and improve our infrastructure and in the last few years, we have developed several critical sectors of the state economy like roads, land administration, security enhancement, electricity liberalisation, etc., in order to support the development of mining activities.”

persistent of the criminal activity. PENGASSAN is currently observing its nationwide rally against oil theft and pipeline vandalisation, which it started last week, to prevail on government at all levels and other relevant stakeholders to urgently address the menace. The union through their National President, Mr. Festus Osifo, had also given the federal government 30 days ultimatum to tackle oil theft and pipeline vandalisation challenge or risk withdrawal of their services through an industrial action by oil workers. Nigeria's performance in oil production has continued to worsen on month-on-month basis, with the poorest underproduction in 40 years recorded in August where the country produced below one million barrels per day against over 1.8 million bpd allocated to the country for the month by the Organisation of Petroleum Exporting Countries (OPEC). According to recent data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), oil production in August 2022 fell to 972,394 bpd against 1.826 bpd OPEC quota. The deficit standing around 853,606 bpd, represented more than 10 per cent drop compared to the July 2022 production of 1.083 bpd.

The last time Nigeria produced that low amount of oil was in 1983, about 40 years ago, when average production stood at 675,000 bpd, tradingeconomics. com, a reservoir of global industry information, has shown. Worried by the multiplicity of challenges bedeviling the nation's oil and gas industry and economy, including oil theft, underproduction, high production cost, insecurity, ageing and decaying infrastructure as well as sabotage of critical oil infrastructure, NUPRC had recently called for the declaration of emergency on the industry. "The imperative is on Nigeria to declare some sort of emergency for the oil and gas industry. Aside energy transition, other issues bedevil our industry — such as oil theft, security, ageing and decaying infrastructure, amongst others. All these contribute to high production costs, which must be minimised," Chief Executive Officer of NUPRC, Mr. Gbenga Komolafe had stated. However, in the chat with THISDAY, the Lagos Zonal chairman of PENGASSAN, who confirmed that oil companies now adopt non-traditional means to evacuate their product as a way of survival, since the traditional oil pipelines are no more safe for the movement of their products to the export

terminals. Most of the major oil transportation facilities including the Shell-run Trans- Forcados Pipeline (TFP) with capacity of 258,000 barrels bpd and the 180,000 bpd Trans Niger Pipeline (TNP) have been shut down for months due to constant attacks by vandals and oil thieves. Abeng said the burden of oil theft and pipeline vandalisation were impacting heavily on the operating expenditure (OPEX) of the oil producing companies, pointing out that the situation had led to the technical cost per barrel becoming so high due to the additional unsolicited costs of fixing sabotaged infrastructure. He said, "Life is all about survival. If the pipeline that is the traditional means of exporting your crude from the wellhead to terminal becomes impassable, you have to survive, and one of the ways of survival is that, you use any available means of conveying your crude, either through trucks, through badges, through gallons or any other means as long as you can convey the product from the tank to the terminal and you sell. "The reality before us is this: production today can no longer continue because tanks are filled to the brim. And if you do not pay your bills, you run out of business. But it has an impact

on the OPEX cost, that is why the technical cost per barrel is becoming so high because of this additional unsolicited costs." He said the union, having realised the current status of Lagos, as an oil producing state, was engaging the state government and the legislators through the PENGASSAN top hierarchy to draw their attention to the oil theft menace, warning that oil thieves and pipeline vandals might soon migrate to Lagos if no measures were taken to stamp out the criminality. "So, if the criminality of oil theft in the Niger Delta is not stamped out, it can migrate to affecting the production of crude in Lagos State. We also have (refined petroleum products) pipelines within Mosimi that run across the Lagos axis and today, the Nigerian National Petroleum Company (NNPC) cannot pump petrol through the pipeline because they are daily punctured," he stated. Describing oil theft and pipeline vandalisation as an "organised crime", Abeng, who explained that the activity was not done by lazy Nigerian youth, stated that it was an operation heavily funded and driven by high sophisticated tools and technology. He maintained that the Continued on page 10

Firm Laments Brain Drain in Nigeria’s Tech Sector Victor Ogunje in Ado Ekiti An Information and Technology Firm, Conclase, has regretted that Nigeria's low talents’ developing innovation and brain drain in the technology sector in the country was contributing substantially to geometric increase in poverty level and slow economic pace. The firm added that Nigeria has abysmally low number of 85,000 technology experts out of its over 200 million population, with many migrating abroad regularly to seek greener pastures on yearly basis. Speaking at an ICT seminar held in Ado Ekiti, at the weekend, the firm's Chief Executive Officer, Mr.

Adeposi Bamiduro, revealed that the company had launched an Academy to develop 5,000 talents within the next five years to bridge the existing gap in the sector. Bamiduro stated that the Conclase Academy tech school, launched on September 5, 2022, was borne out of the shortage of skilled developers available in the technology space. The CEO disclosed that the technology school was specifically designed to help new entrants learn in-demand technology skills and support upskilling moves of established software engineers in the country. He stated that the application

for Conclase Academy is open to people looking to acquire skills in in Flutter, React, Software Quality Assurance, Dotnet and Product Design, with students guaranteed internship placements and opportunity for job placements on completion of their programmes. Bamiduro said: "A report by Korn Ferry predicts that by 2030, there will be as many as 85 million unfilled tech roles, translating to over $8 trillion lost revenue annually across the globe. "Conclase is not new to the technology talent market and the shortages that exist, as we help companies like Zenith Bank, Fidelity Bank, 7Up Bottling

Company, GIG Group, Kenya’s Equity Bank, FCMB, among others, hire technology talents for their teams and projects. "Through Conclase Academy, we intend to bridge the talent gap and help as many as 500 people learn a programming language affordably before the end of 2022. A total of 5,000 to be trained in five years. "Conclase Academy has previously graduated two batches of developers in Dotnet, Flutter, Software Quality Assurance, Product Design, and Angular using a fully on-site learning model at the Conclase Technology Hub in Lagos.”

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NEWS

COURTESY VISIT TO MR GOVERNOR… L- R: Chief of Staff to the Air Officer Commanding (AOC), Air Vice Marshal N.I Ilo; The AOC Logistics Command Lagos, Air Vice Marshal Emmanuel Shobande; Lagos State Governor, Mr. Babajide Sanwo-Olu; Deputy Governor, Dr. Obafemi Hamzat; Secretary to the State Government, Mrs. Folashade Jaji and Chief of Staff to the Governor, Mr Tayo Ayinde, during a courtesy visit to the Governor at the Lagos House, Alausa, Ikeja, at the weekend.

Ubah Escapes Assassins' Bullets, Security Aides, Others Killed in Deadly Attack David-Chyddy Eleke in Awka Gunmen suspected to be hired assassin, yesterday, attacked Senator Ifeanyi Ubah, at Enugwu-Ukwu community in Njikoka Local Government Area in Anambra State, killing an unconfirmed number of policemen and other aides of the senator. A source said the unidentified gunmen attacked Ubah’s convoy, while returning from a function at his hometown, and the police operatives on the convoy immediately responded. Unfortunately, about six policemen on the convoy, according to the source, were gunned down by the non-state actors, including his media aides and others. The source suspected that the gunmen might have been trailing the senator, but there was no evidence to confirm his position. He, however, noted that the senator and a friend, who was with him, escaped from his bulletproof SUV, during the attack. Ofuji, a friend to the person with Ubah, wrote on the social media: “Guys, join me to thank God for sparing the life of my dear brother an d friend, Vin Onyeka. He was sitting beside Senator Ifeanyi Uba, in the same car when the incident happened and only God and the help of their bulletproof car saved them. “I just spoke to him and the senator now and they are in

a safe place but in low spirit. Kindly put them in your prayers as a lot of close loved ones were lost. Which way Nigeria?” Another source hinted that, the gunmen didn't look like people, who accidentally attacked the senator's convoy, rather, they seemed prepared and knew their target, and were adequately armed for the operation. "We were all at the Nkwo Enugwu-Ukwu junction, and there was nothing like danger around, until the convoy came along. Some people said the men were lurking around, and from all indication, they were receiving information about their target. "It was when the convoy came along, at the busy junction that they opened fire on it," the source said, suspecting that the senator might have sustained injury from the attack as he struggled to get out of his car while the shooting went on. "He was only saved because he was riding in a bullet proof car, and after a long shooting, he now came out of the car. We suspect that he may have been injured," the source said. A social media user, Iyke Orji, who claimed to have link to the senator said, "Sen Ifeanyi Ubah was attacked today by Hired killers in Enugwu Ukwu. It was a calculated attempt. It wasn't an impromptu stuff. "Information was gathered about the time of movement and takeoff. The policemen were about four in numbers and they

were attacked. All their arms were collected. The boys that spearheaded that attack were about nine in numbers." But another source, who pleaded anonymity, said six policemen were killed in the attack. THISDAY could not reach

The spokesperson of the Senator Rabiu Kwankwaso Presidential Campaign organisation, Mr Ladipo Johnson, has dispelled speculations that the candidate might step down for either Atiku Abubakar or Bola Tinubu. Johnson, while reacting to speculations that Kwankwaso, was considering stepping down for either Atiku or Tinubu, said: “Kwankwaso is in the race to win.” His words: “I do not know how and why people come up with these assertions and speculations? Kwankwaso cannot and will not step down for anyone.”

According tohim, Kwankwaso would contest the 2023 presidential election to the end as he joined the race of his convictions that he would make the desired change in Nigeria. “Kwankwaso is not in the race to negotiate. He has the capacity, track record for competence and the political will to lead Nigeria. Our candidate has no reason to step down. His path to victory and chances are very high. Competitive yes, but his chances are very high, considering his acceptance nationwide as a man of integrity.” He said that the party was ready for the campaigns and

at Enugwu-Ukwu, but insisted that the casualty figure remained unknown. "Yes, there was an attack at Enugwu-Ukwu today, but the casualty figure is not clear. As I speak to you, the CP has personally led a team of men to the scene, and normalcy has

been restored," he said. He promised to brief journalists on the findings of the command as soon as possible. Ubah is the senator representing Anambra South on the platform of Young Peoples Party (YPP) and is also seeking reelection.

Tinubu Congratulates Etsu Nupe on 70th Birthday, 19th Coronation Anniversary Presidential candidate of the All Progressives Congress (APC), Asiwaju Bola Tinubu, has congratulated the Etsu Nupe, Alhaji Yahaya Abubakar, on his 70th birthday and 19 years on the throne as the Paramount Ruler of the Nupe ethnic nation. He commended him for his nationalistic fervour and contributions to Nigeria's development. In a congratulatory statement by his Media Office, yesterday, in Lagos, Tinubu said the royal father, as a prominent figure in the National Council of Traditional Rulers of Nigeria, has provided leadership and deployed his knowledge and expertise meaningfully. "I'm most delighted to celebrate His Royal Highness, Etsu Nupe, Alhaji Yahaya Abubakar, CFR, on the occasion

Kwankwaso Won’t Step Down for Anyone, Says Spokesperson Chuks Okocha in Abuja

Ubah for confirmation as his line remained busy all through, and calls to his phone were not answered. Spokesperson of the state police command, DSP Toochukwu Ikenga, however, confirmed that there was an attack on men of the command

would traverse the entire country to convince Nigerians and to explain the reasons why they should support the NNPP candidate. Johnson said it was time for Nigerians to take what they read on social media with a pinch of salt, stating that as campaigns drew nearer, a lot of lies would be unleashed to confuse Nigerians. “I advice we check all information and be sure its truth before believing them. There will be a lot of campaign of calumny against politicians that are more acceptable to the people but we are ready to put such campaigners to shame,” he said.

of his 70th birthday and 19 memorable years on the throne of his forebears as the Paramount Ruler of Nupe ethnic nation. "Testimonies abound of your good deed to all and sundry irrespective of creed, colour and race. Your nationalistic fervour and contributions to Nigeria's unity and cohesion, and the development of your Nupe ethnic nation, Niger

State, Nigeria and beyond, are noteworthy. "Your past services to our dear country as an Officer of the Nigerian Army, during which you played a critical role in maintaining peace and security in Nigeria, West Africa and the world at large, are also acknowledged and highly appreciated. "As a prominent figure

in the National Council of Traditional Rulers of Nigeria, you have provided leadership and meaningfully deployed your knowledge, exposure and expertise. "I pray that Almighty Allah grants you long life, sound health and increased wisdom to continue rendering invaluable services to your subjects and our beloved country," he said.

EVACUATION CONSTRAINT HAS HALTED OIL PRODUCTION, STORAGE TANKS NOW FULL TO BRIM, PENGASSAN LAMENTS perpetrators deliberately go into the illegal operation because of their selfish greed, noting that PENGASSAN cannot fold its hands at this material point in time. The PENGASSAN chairman, however, blamed government's failure to punish identified perpetrators of oil theft and pipeline vandalisation through consequence management and enforcement of intelligence reports for the persistent criminal activity. According to him, PENGASSAN as an institution had laid out sustainable and achievable milestones towards resolving this menace, saying one of such milestones was engagement with the community as the community is the first victim and the first beneficiary. Abeng stated that the second solution put forward by the union was roundtable discussion by all stakeholders including the security agencies, traditional institutions, pressure groups and government. He further said the third solution proffered by the oil workers to address the challenge was the application of consequence management

where identified perpetrators are punished. He said the body had observed that the failure of government to punish security agents, who committed infractions when deployed to guard oil assets had emboldened them and led to the continuation of the criminal activity. According to Abeng, instead of punishing the culprits out of consequence management, they are just transferred to other locations and another batch deployed to replace them, noting that when there is no consequence management, there is this notion that it's business as usual. "So, PENGASSAN is canvassing for consequence management. Wherever there is infraction, investigate it, give everybody a fair hearing, the ones found culpable for it, let them be punished. Once there is consequence management, this trend will stop," he noted. He said the fourth solution proffered by PENGASSAN was the adoption of technology, insisting that the industry must use technology in such a way that from the wellhead to the

terminal, the product is being seen in real-time. He maintained that the industry was vulnerable in the area of enforcement of intelligence during the breaking of pipeline and stealing of product. On the rally by the union, Abeng said the Lagos Zone of PENGASSAN was in full compliance and was ready to even carry out the 30 days notice given for the withdrawal of their service whenever their national president gives the directive. He added that the Nigerian economy was bleeding as a result of the oil theft menace and was impacting on the federation's revenue, warning that if there was no improvement, there would be no money to be shared by the federal, state and local governments in October. With the capacity of producing 2.5 million bpd, Abeng lamented that Nigeria was currently struggling to produce one million barrels, not for lack of capacity to produce but because the oil is stolen at every point in time and thereby impacting the federation's account sharing done every month.

MONDAY, SEPTEMBER 12, 2022 • T H I S D AY

NEWS

OPENING SESSION OF CATHOLIC BISHOPS CONFERENCE... L-R: Catholic Bishop of Orlu Diocese, Augustine Ukwuoma; Archbishop of Owerri Ecclesiastical Province, Lucius Iwejuru Ugorji; Governor Hope Uzodinma of Imo State; his wife, Mrs. Chioma Uzodimma, and His Eminence, Peter Cardinal Okpaleke, among others, during the opening session of Catholic Bishops Conference of Nigeria at Holy Trinity Cathedral Orlu...yesterday

Atiku: Climate Change is Real, Global Flooding is Proof of It Says govt should initiate humanitarian assistance for victims Chuks Okocha in Abuja Presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, yesterday, said

climate change was real and that nothing confirmed his position better than the flooding that follows heavy rain around the world

He, therefore, called on the federal government to initiate humanitarian assistance for flood victims across the country. Atiku, in a statement, said

We Are Solidly Behind You, Mbah, PDP, Abor People Tell Ugwuanyi Urge governor to remain focused to finish strong The people of Abor communities known as Ebo-Ne-Sato in Udi Local Government Area of Enugu State have commended Governor Ifeanyi Ugwuanyi for entrenching peace and good governance in the state in spite of the nation’s economic and security challenges. According to a statement yesterday, the people of Abor, led by Hon. Barr. Tahill Ochi and other notable sons and daughters, gave the commendation during their solidarity visit to Ugwuanyi at the Government House, Enugu. They appreciated Ugwuanyi for the regular payment of workers’ salaries, the existing peace in Enugu State and the governor’s love and kindness to them in the areas of earth road paving, erosion control, school infrastructural support, security and political appointments. The Abor people declared their unflinching support for Ugwunayi, the governorship candidate of the Peoples Democratic Party (PDP) in Enugu State, Dr. Peter Ndubuisi Mbah and other candidates of the PDP for the 2023 general election. Presenting the address by the Abor communities, the President-General of Umuavulu Community, Dr. Netchy Mbaeze, told Ugwuanyi that the Abor people were at the Government House, “to thank you for your good governance in Enugu

State,” adding, “under your leadership, Enugu is now considered as the most secure state in the south-east. “Furthermore, it has become a state where peace and justice reign. Enugu State is doing very well in the area of capacity development and employment creation, especially through the Enugu Small and Medium-sized Enterprises (SMEs) Center. “Enugu State is proving to be one of the most creative states in human capacity development, empowerment and job creation. “To date, Enugu State is still one of the few states in Nigeria that pays salary as and when due, and is not owing backlog of unpaid salaries in its civil service.” Stressing that Ugwuanyi is, “a master of politics without bitterness in Nigeria," the Abor people also thanked the governor for political appointments he considered for their sons and daughters including, “Chief Barr. Tahill Ochi, Chief Barr. Matthew Obodoechi, Amb. Fidelia Njeze, Arinze Chilo-Offiah, Innocent Ugwu.” The Abor people therefore charged the governor, “to remain focused and finish as strong as the available resources of the state can carry you, and ignore the activities of those struggling to distract you from your lawful duties,” adding: “We are aware that some of those that you lent helping

hands to, including some in our own community, are probably among them. Please forgive them for they don’t know what they are doing. We know they will not succeed.” In his goodwill message, Chief Dubem Njeze specifically applauded Ugwuanyi for his humility, uncommon leadership qualities, endurance and cherished sacrifices he has made to make peace at all times in spite of the enormous powers he has as a governor. His words: “Your Excellency, you are from the lineage of great men. We know that leadership is never easy and we have never had it so good in Enugu State. “We have seen leaders in the past. I know is very easy to make trouble but great men are known for this:? Against all provocation(s) you (Ugwuanyi) always go for peace. “So, I want to thank you on behalf of Abor people for knowing all your powers as a? governor and decided to make peace at all times. “In our community, Abor, we thank a hero for the good things he know and always endeavours to do them. We also thank him for all the evil things he know and refuses to do them to his people.” The climax of the visit was the governor’s approval of the Igwe-elect of Umuavulu-Abor Community, Chief Paschal Chike Onodugo as the new Igwe of the community, amid jubilation.

Climate change was real, explained the flooding that has followed torrential downpours in towns and villages in Nigeria - like other places around the globe, confirms this. He stressed that the damage that has been occasioned on account of the floods were troubling, as public social facilities like schools and hospitals had been impacted. The PDP presidential hopeful said it might be safe to say, however, that no one carries the burden of flooding like Nigerian farmers. According to him, media reports abound of swathes of

farmlands and food crops being washed away. “The consequence of these losses by our farmers will be felt by all of us. Any hope of a bumper harvest is now diminished. This will further add to misery in our towns and villages and in our cities as food prices continue to soar. "I share in the pains of the victims of these flooding incidents, including communities that their local healthcare centers, markets and schools have been destroyed. Or, even individuals, who have been displaced. I also condole with those, who have lost their loved ones.

“Therefore, I urge governments at all levels to unveil a special humanitarian assistance programme to provide immediate succour to the affected communities. These unfortunate incidents should be a wake-up call to the urgency of our responsiveness to the issues of climate change and global warming. “It is a clarion call that nongovernmental organisations must equally harken to and place the focus of their advocacy on sensitising the vulnerable public on how to manage and mitigate disasters of global warming," he stated

2023: To Secure Victory, Peter Obi Support Group Targets Key States Emameh Gabriel in Abuja Peter Obi Support Group (POPSG), has said the victory of their principal and presidential candidate of Labour Party, Mr. Peter Obi, would likely be decided in five key states in some of the regions in the country. This is as the group declared that the 2023 polls would not be a gentleman’s game. President of the group, Mr. Felix Obaze, who also doubled as its international president, stated this in Abuja at the weekend during inauguration ceremony of the FCT chapter of the group. Obaze emphasised on the importance of supporters of the party to focus more on winning more supporters in states like Lagos, Rivers, Kano, Kaduna, Nasarawa and the FCT, whom he said were a major power house in terms of voting population. He said though while he would not rule out the

important of winning in other states, winning the identified states could swing the election to their favour. "We have 36 states in Nigeria and the FCT and we have considered these states critical, because the mass of the voting population are in these states. States like Lagos, Rivers, Kano, Kaduna, Nasarawa, FCT, are major power house in terms of voting population," he said, noting that the inauguration of the chapter was aimed at expanding the support base of the group to boost the chances of Labour Party in next year's presidential election. "The FCT chapter exco, who will mobilise thousands of Nigerians from the grassroots in the FCT for the 2023 presidential election. The body is in the 36 states of the federation, the FCT and in diaspora. “The structure is very clear. We have inaugurated states exco, who inaugurate

local government exco and down to wards and units so that the message can be taken to the grassroots," he said. He, however, called on Nigerians to get involved to avert what he described as looming disaster, noting that the people must seize power by every means. "If you don't take it by every means, you will know that Buhari era, we are living in is paradise. If we don't get involved, we will be praying to God, I wish Buhari was in government. Nigeria must be rescued and you all must be involved,” advised Obaze, who said they had placed more focus "on the youths, who have over 60 per cent of the voting population. "That's why we are capturing these critical states. If we are able to galvanise these states, while not forgetting other states, we are confident that the mandate could be delivered to Peter Obi."

T H I S D AY • MONDAY, SEPTEMBER 12, 2022

NEWS

FIGHTING THE MENACE OF ILLICIT DRUGS... L-R: Director of Intelligence, National Drug Law Enforcement Agency, Mr. Sunday Zirangey; Director of Media and Advocacy, Femi Babafemi; Chairman/Chief Executive Officer Brig. Gen. Mohamed Buba Marwa (rtd); Deputy Assistant Secretary, Africa, Middle East and Knowledge Management, US Department of State, Mr. Tobin J. Bradley; Africa Program Officer, Office of Africa and Middle East Programs, Dr. Mark Hove; and Special Assistant to the NDLEA boss, Mr. Jacob Umar, after a meeting in Washington DC…weekend

Falana: List of REC Nominees Constitutionally Defective Asks Buhari to comply with 35% affirmative action for women HEDA: INEC's inconsistency threat to elections Adedayo Akinwale in Abuja and Wale Igbintade in Lagos Human rights lawyer, Mr. Femi Falana yesterday called on President Muhammadu Buhari to withdraw the controversial nomination of four Resident Electoral Commissioners (RECs) from the Senate and ensure that the nominees were investigated by relevant security agencies. According to Falana the nomination of four out of the names of those forwarded to the Senate as RECs violated Section 154(1) of the constitution. The statement by the Senior Advocate of Nigeria (SAN), came just as the Human and Environmental Development Agenda (HEDA) has warned that the inconsistency of INEC was a threat to the 2023 elections. Falana in the statement titled "List of REC Nominees is Constitutional Defective," stated that aside constitutional infractions, the list of the nominees had also been challenged on the ground that some of them were card-carrying members of the ruling party. He stated that at least two of nominees had been alleged to be under investigation for serious electoral malpractice and should be subjected to integrity test. According to Falana instead of subjecting the nominees to integrity

test, the federal government has dismissed grave allegations leveled against them with a wave of the hand. Besides, Falana urged Buhari to comply with the decision of a federal high court, which ordered the federal government to comply with the 35 per cent affirmative action for women, and allow women to occupy 35 per cent of all appointments. The statement read: "Since 2015, President Buhari had consulted the Council of State whenever he wanted to appoint the Chairman and members of the INEC, including RECs, in strict compliance with the provisions of Section 154(3) of the Constitution of the Federal Republic of Nigeria, 1999. “On each occasion the president consulted the Council of State before submitting the names of nominees to the Senate for confirmation in line with Section 154(1) of the constitution. But for some undisclosed reasons, the president has forwarded the nominations of 14 persons for confirmation as Resident Electoral Commissioners without any prior consultation with the Council of State. "Apart from the constitutional infraction the list of the nominees has been challenged on the ground that some of them are

card carrying members of the ruling party. At least two other nominees are alleged to be under investigation for serious electoral malpractice. “Instead of subjecting the nominees to integrity test the federal government has dismissed such grave allegations with a wave of the hand. Curiously, the Minister of Information and Culture, Mr. Lai Mohammed (who had been in the forefront of the campaign for electoral reforms before 2015) said last week that, ‘as to the nominees that are being challenged by social media warriors and by some critics, I don’t think it is the business of the President to immediately throw out a nominee based on allegations which have not been proven." Falana added: "Having repeatedly assured the Nigerian people that the administrators will support INEC to conduct credible elections in 2023, we call on President Buhari to withdraw the controversial list from the Senate and ensure that the nominees are investigated by relevant security agencies. “After security clearance the president is advised to comply with section 154(3) of the constitution by consulting the Council of State with respect to the qualification and competence of the nominees. It is after the consultation that the

names of the nominees that are qualified should be presented to the Senate for confirmation. "However, in view of the opposition to the list of nominees by a number of women's groups on ground of gender discrimination it is pertinent to draw the attention of the president to the judgment delivered by the Federal High Court on April 10, 2022 in the case of Women Empowerment and Legal Aid & Ors v AttorneyGeneral of the Federation (Suit No FHC/ABJ/CS/ 2021) wherein the Honourable Justice Donatus Okorowo ordered the federal government to comply with the 35 per cent affirmative action for women, which allows women to occupy 35 per cent of all appointments. “Since the judgment is binding on all authorities and persons in Nigeria pursuant to section 287 of the constitution the president should ensure that the women in the list of nominees should not be less than 35 percent." Meanwhile, HEDA has warned that the inconsistency of INEC was a threat to the 2023 elections. The organisation in a statement yesterday, recalled that on July 18, 2022, two days after a governorship election was conducted in Osun State, the APC candidate and Governor Adegboyega Oyetola reportedly applied Bimodal Voter

Adebayo: I’ll Eradicate Poverty in Nigeria in 18 Months Deji Elumoye in Abuja Presidential candidate of Social Democratic Party (SDP), Adewole Adebayo, has promised that, within 18 months of assuming power if elected president, he would eradicate poverty in the land and boost the nation’s economic prosperity. Speaking with newsmen at the weekend, the lawyer-turned politician, stressed the need for competence, courage and character, as necessary attributes a leader must possess to help rebuild the country and restore hope to teeming hopeless Nigerians. He said: ‘’I have a plan for 30 million jobs. When people have jobs and you put people in school, you create the middle class and solve the problem of poverty. The job comes with accommodation and other incentives, then, poverty will go away." Adebayo said until there is honest and purposeful leadership, the country might just still continue to grapple with almost the challenges it is presently facing,

emphasising that only the person with capacity and capability could bring the country out of the woods. According to him, all the problems, including banditry continued to fester because of lack of sincerity of purpose by the nation’s leaders, saying, “What we call security problem in Nigeria is the regular day to day problem. In Nigeria, we have mere skirmishes from bandits. ‘’Any problem that AK47 can solve is not a problem, the government is not just serious enough to attend to the problem, there is nothing serious , the Nigerian Army is very strong . I have done my assessment, I think the Nigerian Army is using two per cent of its attention on Boko Haram. because they have seen that it is not the priority of the government. ‘’They have a lot of people, who are making money from these things and others say let me join them, because I will soon retire and they won’t pay my pension and this moron here is claiming N1 billion a week, so, let me join

them. That is what is happening. The bandits make money and the security people make money. That is what is happening.’’ Asked if his party has the requisite structure to win presidential election, he said, ‘’Legally speaking, all political parties are supposed to have the same structures, because one of the criteria by the Independent National Electoral Commission (INEC) use to evaluate whether the party will be deregister or not is that it must be present in every local government, in every ward, every state, every zone and in the FCT. ‘’I know this as a lawyer and because in the past, I rescued many political parties from such problems by helping them get offices in different places so that there will be alternatives and so that such parties do not die, so that they can be visible. ‘’In this dispensation, you can find out from INEC SDP produced the highest number of delegates, the delegates that voted in the election that produced me as

candidate were 1,708 from every constituencies in Nigeria. I scored the highest number of delegates votes more than people in the APC and PDP and whatever, in some parties they just rented a hall and that was it. “We did ward congresses in 8,800 wards; we did 774 local congresses, we did 36 states and FCT congresses and we did the national convention in International Conference Centre, Abuja. So, these are real people in their communities. The names of these people and their telephone numbers are with INEC. Every delegate that came for our election had their photographs supplied. ‘’They are not people you gather on the streets and you say they are party members. So, we have the structures but in some sense, what some people call structure is a big man somewhere, who can for four years be cooking rice and killing goats for people to come and eat for free and who can mobilise as many thugs as possible, if he needs to go the hard way.

Accreditation System (BVAS) Report for the election. It said INEC was on record to have after the statutory payments were made on July 29, 2022, issued the CTC of the BVAS' report to APC and Oyetola. HEDA stressed that APC and Oyetola served INEC their petition challenging results in 749 polling units on the account of suspected over-voting they believed took place in those polling units. It said: "INEC is alleged to, having discovered the palpable inconsistencies between figures recorded as accredited votes on the EC8A (result sheet) and the BVAS Report, tampered with the contents of the original BVAS report to protect the mandate awarded to Ademola Adeleke and PDP, at the expense of credible election, by issuing a fresh CTC to the defendants, claiming the CTC earlier issued to APC and Oyetola was incomplete and unsynchronised.

"Considering the Ekiti and Osun elections were conducted and declared on the basis of BVAS, How possible and plausible is it for INEC to have declared a winner from an unsynchronied BVAS? Considering the BVAS report issued was more than 10 days after the Osun election," it queried. HEDA as an organisation committed to fight against corruption – financial and electoral, expressed concern about the development It added: "Noting this particular serious inconsistency and those associated with the senatorial tickets attempts by the current Senate President in Yobe and Former Governor Godswill Akpabio in Akwa Ibom, INEC is charged to do better and remain consistent for a credible, free, fair and popular election in 2023." It also called on the anticorruption agencies to vigorously monitor officials of the Commission to avoid inducement and compromise of the 2023 elections.

2023: Former Katsina SSG May Dump APC for PDP Francis Sardauna in Katsina As the race to the 2023 general election gears up, there are strong indications that a former Secretary to the Katsina State Government (SSG), Dr. Mustapha Muhammed Inuwa, may defect from the All Progressives Congress (APC) to the Peoples Democratic Party (PDP). Inuwa, who contested at the recently concluded governorship primaries of the APC but lost to Dr. Dikko Umar Radda, is an astute politician in the state that has lots of followers as APC members. The erstwhile SSG had on the heels of the turnout of the primaries, accused the state APC leadership of working with other bigwigs in the party against his lifelong political ambition of succeeding Governor Aminu Bello Masari. Inuwa had alleged that some APC bigwigs in the state believed that he could not be controlled by them, hence their support for their candidate (Radda) whom he described as clueless and subservient. The last Saturday meeting between Inuwa, the state PDP governorship candidate, Senator Yakubu Lado, and some stalwarts of the party, further confirmed his

plans to dump the ruling APC for the PDP. Lado, while addressing the former SGS and his supporters said: “We are here to appeal to our elder brother (Inuwa), a political force who left the PDP for one reason or the other to come back and join our bid to rescue Katsina from its current challenges. "We are appealing to him to forgive and forget whatever wrong our party has done to him in the past that made him leave the party. We are hoping that he will join forces with the PDP soon." But Inuwa, while responding, said he would consult his political godfathers and supporters within and outside the state before deciding on his next political line of action in no distant time. The immediate past Secretary to the state government, however, vowed to work only for a competent and qualified candidate that will rescue Katsina from the current security and economic challenges in 2023. While lamenting the inability of the present APC government to tackle the prevailing security challenges bedeviling the state, Inuwa said many residents of the state could no longer afford three-square meal.

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T H I S D AY ˾ DAY SEPTEMBER 12, 2022

Acting Group Politics Editor DEJI ELUMOYE

POLITICS

Email: deji.elumoye@thisdaylive.com 08033025611 SMS ONLY

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

Ahead Presidential Campaign, Tinubu Consults APC NWC Members Three months after his emergence as the presidential candidate of the All Progressives Congress (APC), Asiwaju Bola Tinubu, last week visited the headquarters of the party in Abuja, where he met with National Chairman of the party, Senator Abdulahi Adamu and other members of the National Working Committee. Adedayo Akinwale writes

Tinubu

Adamu

is going to be the running mate to Tinubu. When the search on, speculations were already rife that the ruling party would settle for a Muslim-Muslim ticket. The christian leaders within the party immediately swung into action to prevent the move perceived as a slight on the Christians in the party and in the country at large. Christian bodies like the Christian Association of Nigeria (CAN), Pentecostal Fellowship of Nigeria (PFN), among others, did not lie low as they consistently warned against the consequences of fielding a Muslim-Muslim ticket. Their warning fell into deaf ears and at the end of the day, against all odds, Tinubu decided to pick the

he presidential candidate of All Progressives Congress (APC), Asiwaju Bola Tinubu last Wednesday visited the national headquarters of the party three months after he emerged as the standard bearer during the presidential primary of the party that took place from June 7 to 8, 2022 at the Eagle Square, Abuja. Initially, 23 aspirants bought forms, but nine withdrew shortly before the commencement of voting at the convention. Tinubu defeated former Minister of Transportation, Rotimi Amaechi; Vice President Yemi Osinbajo and 12 others to clinch the sole ticket. He polled 1,271 votes to emerge victorious at the end of the Special National Convention of the party. Following his emergence, Tinubu visited Osinbajo, Amaechi and other presidential aspirants to solicit their support in the forthcoming elections. The battle quickly shifted to the issue of who

Shettima

Omisore

former Governor of Borno state, Senator Kashim Shettima, as the Vice Presidential Candidate, a fellow Muslim from the North. Defending his choice of Shettima, the former Governor of Lagos state said his decision was not based on religion or to please one community or the other, but believed that Shettima could help him bring the best governance to all Nigerians, regardless of their religious affiliation or considerations of ethnicity or region. After scaling the hurdle of nominating his running mate, Tinubu consulted former President Olusegun Obasanjo and former military Head of state, General Ibrahim Babangida to intimate them about his ambition. However, Tinubu’s last Wednesday’s visit to the party headquarters and the subsequent meeting with the members of the National Working Committee (NWC) of the party came amid rumoured frosty relationship between himself

and the National Chairman of the party, Senator Abdulahi Adamu. Before his visit, there had been reports of rifts between Tinubu and Adamu over composition of the party’s presidential campaign council. It was speculated that while Tinubu wants to handpick key people that would deliver his message on key issues, Adamu wants his loyalists to be in charge. Tinubu who arrived at the secretariat at exactly 2:47pm was in company of Shettima,APC Director General of campaign and Plateau state Governor, Simon Lalong, the Secretary, Hon. James Faleke, Speaker of the House of Representatives, Hon. Femi Gbajbiamila, the Governor of Ebonyi state, Dave Umahi, among others. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Emerging Collaborative Engagements Promoting Obi’s Ambition Ahead of the commencement of presidential campaigns on September 28, the Peter Obi movement is showing leadership in how it intends to engage with Nigerians by introducing novel cause-related engagements for the productive and collaborative engagement of “Obidients” and other Nigerians on social issues, writes Deji Elumoye

or so long, every four years, politicians contest for votes with no attempt to understand that it’s about people’s lives, their hopes, their dreams, and their aspirations. The emergence of Peter Obi, former two-term governor of Anambra state as the Presidential candidate of Labour Party has changed all that. The nation is witnessing the first real emergence of a people’s movement that is focusing on Nigerians coming together to elect their government on the basis of the recognition that it is all about them and their future. This movement called “OBIDIENTS” is causing a shift in political organizing and engagement with support groups emerging daily to support the organic growth of what is now the Peter Obi phenomenon. In a marked departure from political grandstanding, the face of the movement, Peter Obi, is consistently elevating political discourse, not tearing at others’ throats but rather engaging in well-articulated national agenda based on a new approach to governance, an approach that underlies his perspective and future-forward positioning for the country. Against this background, one of the three pillars of the Peter Obi campaign organization, the BIG TENT for Peter Obi, led by Professor Pat Utomi, has initiated and is supporting a series of cause-related engagements for

Obi

Utomi

the productive and collaborative engagement of Obidients and other Nigerians on social issues. These include Clean Up Nigeria, to promote a culture of cleanliness of mind, body and environment;

Doctors For Peter Obi, a group of over 5000 medical doctors at home and in the diaspora currently providing medical outreach across the country; and LoveCare, designed to feed millions of people across the nation, amongst others.

The Vision of “Clean Up Nigeria,” according to Dr. Chidi Okpaluba, a member of the BIG TENT, is to “mop up and properly channel the energies of our growing Obi-dient youth population to the CLEAN UP NIGERIA project, through various socially impactful SPEAK UP & CLEAN UP activities to promote sustainably organized youth led support rallies for Peter Obi’s emergence as President.” He explained that the primary aims and objectives of Clean Up Nigeria are to create a rallying point and subject for the productive engagement of youths; create a positive neuro-association between doing good and the Obidatti campaign; serve as channel to support youth Speak-Up (Soro-Soke); and to advance and propagate developed common narratives on topical issues of national discourse as espoused by “Think Tank,” an arm of the Big Tent. The other objectives of Clean Up Nigeria, according to Okpaluba, include the need to show that the Obi presidency will be all about doing good and solving societal problems; clean up our cities and de-clog the drainages in support of the world climate month and beyond; and rid our environments of plastics waste. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

MONDAY SEPTEMBER 12, 2022 • T H I S D AY

T H I S D AY ˾ DAY ͯͰ˜ ͰͮͰͰ

FEATURES

Group Features Editor: Chiemelie Ezeobi Email: chiemelie.ezeobi@thisdaylive.com, 07010510430

As Implementation of North-east Stabilisation Development Master Plan Begins After years of devastation by the Boko Haram insurgency, the North East Development Commission, NEDC, last week launched the Stabilisation Development Masterplan for the region which will gulp the sum of N32 trillion over 10 years period. Adedayo Akinwale writes

The Managing Director of North East Development Commission (NEDC), Mohammed Alkali; the Secretary to the Government of the Federation, Mr. Boss Mustapha; and other dignitaries at the launch of the Stabilisation Development Masterplan for North-east

Kudzum bridge, along Michika -Madagali road, Adamawa State

Distribution of relief materials to ﬂood victims

He pointed out that in implementing the Humanitarian Development Peacebuilding (HDP) nexus, NEDC has covered much ground with viable, demand-driven, and impactful projects that are changing the landscape of the region. Mustapha explained that the North-east NESDMP was a holistic roadmap for recovery, stabilisation, expansion, and long-term socioeconomic development of the region. He revealed that the implementation of the North-east Development plan would gulp the sum of $80 billion, which is equivalent to N31.05 trillion over the period of 10 years. He said: "We have just learned that the cost of implementing the eleven Pillars of the ten-year NESDMP is N31.05 trillion or about US $80 Billion, which is a colossal amount. At this juncture, I wish to call on all stakeholders in the Public and Private Sectors, Development Partners, especially Donors, to garner resources and invest optimally in the richly endowed but least-exploited North-east Region. "Going forward, the federal government will swiftly approve the Regional Plan for immediate implementation by all relevant stakeholders."

n 2002, when the Jam'at Ahl as-Sunnah lid-Da'wah wa'l-Jihad, otherwise known as Boko Haram was founded by Mohammed Yusuf, little was known about the terror group. The main goal was to "purify" Islam in Northern Nigeria, believing jihad should be delayed until the group was strong enough to overthrow the Nigerian government. Yusuf, the leader of the terror group was killed in 2009. After his death, he was succeeded in July 2010 by his former second-in-command, Abubakar Shekau. Unlike the way the military was able to crush the uprising of the Maitatsine movement led by Muhammadu Marwa in 1985, Boko Haram has been able to thrive despite government onslaught. The havoc wrecked by the terror group on the region is unprecedented given that the Boko Haram insurgency no doubt has led to the death of about 350,000 deaths, displaced over 14.8 million people, and left millions needing humanitarian assistance. Establishment of NEDC It was the need to respond to the dire humanitarian needs of the people of the North-east which has been devastated by the insurgency that led to the creation of the North-east Development Commission (NEDC). The NEDC Act mandates the Commission to liaise with Federal Ministries, Departments and Agencies, States and Development Partners on the implementation of all measures approved in the Master Plan for the stabilisation and development of the

North-East Zone by the Federal Government. It also requires the NEDC to interface with Development Partners (Local or International) and NonGovernmental Organisations to ensure synergy with other Stakeholders in line with the Master Plan’. Validation of North-east Stabilisation and Development Masterplan Speaking at the meeting on validation of the North-east Stabilisation and Development Masterplan (NESDMP), the Secretary to the Government of the Federation, Mr. Boss Mustapha said in less than four years since its establishment, the Commission has made great strides towards achieving its mandate of managing funds for recovery, stabilisation, and paving a path towards long-term social-economic development of the North-east region.

In implementing the Humanitarian Development Peacebuilding (HDP) nexus, NEDC has covered much ground with viable, demand-driven, and impactful projects that are changing the landscape of the region

To the SGF, the NEDC has turned out to be one of the important projects of the President Muhammadu Buhari administration. While congratulating the Minister of Humanitarian Affairs, Disaster Management & Social Development, Sadiya Farouq and the Board and Management of NEDC for producing the NESDMP, Mustapha called for the immediate commencement of the implementation of the Master Plan with due diligence, dedication, and dexterity through the deployment of all appropriate monitoring, evaluation and coordination competencies and tools. On his part, the Chairman, NEDC, Major General Paul Tarfa (rtd), described the launch of the Master Plan as apt towards finding lasting solutions to challenges caused by the insurgents. He said the program would improve nutrition, hygiene as well as providing scholarships for people to study the remote causes of violent extremism and the way forward. Holistic Roadmap In the same vein, the Managing Director of NEDC, Mohammed Alkali said in order to achieve the aim of the establishment of NEDC, the Act provides that the Commission shall “develop a Master Plan based on the needs assessment of the zone to be known as the North-East Stabilization and Development Master Plan’’. He explained that the Master Plan is to contain programmes and schemes that promote and facilitate the physical and SocioContinued on page 21

T H I S D AY ˾ DAY ͯͰ˜ ͰͮͰͰ

FEATURES

One of NEDC ICT Resource centre in North-east Economic Development of the North-east Zone as well as provide estimates of the time and costs of implementing the programmes and schemes However, to produce a holistic roadmap that could be implemented diversely and comprehensively in the North-east, Alkali said the Commission in addition to baseline studies, conducted across the zone, consultations and engagements on the Master Plan were held at grassroots level in all the 112 LGAs in the Zone, as well as with Humanitarian, Development and Peacebuilding (HDP) Actors, CSOs/CBOs and the Private Sector at the Regional Level, Federal Legislators from the North-East, Federal MDAs, the Military, Police, Security Agencies amongst others. He said the proposed 10-year NESDMP also encapsulates relevant aspects of President Muhammadu Buhari plan, Development Plans of Member States, Sectoral Development Plans and Roadmaps of Federal Ministries, Departments and Agencies (MDA), and align with projects being executed by development partners in the zone. His words: "The validation event we are witnessing today signifies the endpoint of production of the NESDMP, a document culminating from baseline studies and robust engagements with all critical Stakeholders." "It runs from 2020 to 2030 in four implementation phases; Recovery & Stabilisation (2020 – 2021), Renewal (2022 – 2023), Expansion (2024 – 2025) and Sustainable Growth (2026 – 2030). "It consists of 11 Pillars - Peaceful Society; Leadership in Agriculture; Healthy Citizens; Educated Populace; Flourishing Trade; Productive Entrepreneurs; Purposeful Infrastructure; Industrialisation; Memorable Experience; Protected Environment; Connected Region. "Its cost of implementation is forecasted at N31.05 trillion about (USD 80 billion); substantially coming from the Private Sector. It contains over 500 Schemes/Programmes/ Projects." The Managing Director further revealed that the Commission had been executing modest projects that are necessary for humanitarian assistance, recovery, stabilisation, peacebuilding, and development of the region the interventions of the commission cut across various sectors – education, health, WASH, agriculture, transport, housing, youth empowerment, reintegration, social cohesion, and capacity building, among others. In addition to that, he said due to Nigeria's commonalities with neighbouring countries in terms of fragility and ongoing crises, the Commission is involved in some projects in the Lake Chad Region, such as PROLAC (Lake Chad Recovery and Development Project) being implemented in Nigeria, Cameroon, Niger, and Chad. Lending his voice, the Governor of Borno state and the Chairman of North East Governors Forum, Prof. Babagana Zullum said without a clear road map, no meaningful achievement could be made regardless of the enormity of resources available. Zullum was of the opinion that if the recovery and development of the regional master plan is strategically implemented, it would not only complement what the governors are doing in the states by investing in transformation projects, but also serve as tipping points for the transformation of

Distribution of hospital equipment of rice, cartons of spaghetti, gallons of vegetable oil, clothing items for men and women, mosquito nets, pairs of slippers, antiseptic soaps, blankets, mattresses, mats, children's wears, mats, mattresses and many other items. Furthermore, NEDC has provided advanced health facilities, ventilators, hospital beds, ambulances, consumables, and provision of basic therapeutic capabilities to the Tertiary Health Institutions in the region to curb the spread of Covid-29 virus. Molecular Laboratories in all the North-east States. In addition to the already provided aid, two Burn Centres were also built in Adamawa and Borno States along with various Medical Outreaches.

Newly constructed 1,000 housing units in Ngwom, Mafa Local Government of Borno State the region. He said the 11 pillars encompass all the sectors that need attention and investment to make the region be at par with the rest of the country and unleash its potential. Zullum stated: "In order for the commission to deliver on its mandate of supporting the recovery and development of the North East region of Nigeria that have been devastated by Boko Haram insurgency, which is further compounded by severe climate change, It has to be strategic and realistic realising that the resources it has its limited and insignificant percentage is time bound, and has only seven years to go." Interventions of NEDC Unlike the Niger Delta Development Commission (NDDC) that has become an ocean of corruption for the people of the region, NEDC was in haste to make a mark and intervene in the suffering of the people and stabilisation of the region. While the commission worked on its master plan, its modest achievements in the last four years have been gratifying. Housing The commission has completed 1,000 housing units in Ngwom,

Mafa local government of Borno state. The houses were commissioned by the Minister of Humanitarian Affairs Disaster Management and Social Development, Sadiya Farouq. The houses have been handed over to the beneficiaries. Also, the commission is constructing another 500 housing units in each of the remaining states to relocate and ressetke Internally Displaced Persons (IDPs). This is expected to be continually carried out in order to ease the suffering of all affected families of the region. Information Communication Technology Aside from the provision of housing units, the commission, in line with its strategic plan to improve access to Information and Communication Technology (ICT), established ICT Resource Centres in each of the six states of the region which are hosted in tertiary institutions in the states. The Commission has trained over 3,000 youths across the six North East states in ICT. 45 per cent of the beneficiaries are female. The intervention is expected to generate new and sustainable jobs for the youths of all categories cutting across a range of skills. Already, 1,800 youths have been trained in graphic design, 1,718 trained in smart phone repairs across the six states of the region. To ensure the programme gets to the target youth, the commission established 18 ICT Centres in each Senatorial zone. Health The Commission has distributed hundreds of thousands of food and non-food items in all the North-East states, namely: bags

If the recovery and development of the regional master plan is strategically implemented, it would not only complement what the governors are doing in the states by investing in transformation projects, but also serve as tipping points for the transformation of the region

Humanitarian Intervention The commission distributed relief materials across the North East states to over 500,000 households. 30,000 persons were reached with returns of food and non-food items in return communities, while over 4,500 displaced Persons benefited from emergency health intervention projects. Capacity Building The commission has trained 500 key stakeholders on Alternative Dispute Resolution; while 150 auto mechanics are currently undergoing training in Vehiclular Diagnostic Training. Also, 300 community leaders have been trained on the dangers of improvised explosives and 2,830 beneficiaries trained under NEDC environment protection plan, among others Rapid Response Intervention The Commission in its short-term developmental plan in the first quarter of 2020 is in the process of implementing over 1000 Rapid Response Intervention (RRI) Projects in Agriculture, Environment, Education, Health, Energy/Power and WASH Sectors across all the 112 LGAs in the six states of the region. Some of the projects have been completed. While many others are currently in progress with very promising results. In all, over 4000 (RRI) projects have been implemented since 2020. The commission said in the coming years, there is the hope that more projects will be approved and implemented with the same vigor and goodwill. Special Development Projects The commission has also completed a few special projects in the region. The projects are: reconstruction of three bridges along the road from Mararaba Mubi, Adamawa State to Bama in Borno State. Construction of 54km Mutai to Ngalda sector of the Gujba Ngalda Road in Yobe State; Construction of Mayo Ndaga Road in Taraba State. Reconstruction of police stations and barracks destroyed by insurgents in Garkida, Adamawa State; construction of three bridges on the Jabbi Lamba to Bele Road in Adamawa State; Rehabilitation of the Maiduguri- Bama road in Borno State; construction of three mega schools in each member state; and construction of Soro Cattle Market in Bauchi State. As soon as the implementation of the masterplan begins, the restoration of the region to its past glory and a better future is just a matter of time.

T H I S D AY • MONDAY, SEPTEMBER 12, 2022

INSPIREDLIFE

THE TRIALS AND TRIUMPHS OF BUSINESS WUNDERKINDS

with LANRE ALFRED

Herbert Wigwe… ‘The Special One’ From Lagos to Ogun, the northern part of Nigeria to the east and everywhere in between, Access Bank, under the leadership of Herbert Wigwe, has not swayed or shirked in its avowed commitment to continually strive to deliver sustainable economic growth that is proﬁtable, environmentally responsible and socially relevant, helping customers and humanity to access more and achieve their dreams. At the core of the bank operation for the past couple of years, is an apostolic devotion to corporate social responsibility activities, an accretion of which has made it a primus inter pares in the banking industry and by extension, Corporate Nigeria.

hese CSR activities span SMEs support, women empowerment, sports, tourism, education, information and communications technology and creative arts and entertainment. On Wigwe’s watch, Access bank has recorded remarkable leaps in operations and revenue from cutting-edge and futuristic banking culture. In the cutthroat terrain of Nigerian banking, Herbert rides the tides of industry thus dictating the pace of change and influencing the thought of his time. There is no gainsaying therefore, that he would command the epochs that follow and impress his name on eternity, by his dazzling strides. Herbert is cut of that proverbial rare stock that effortlessly attracts the patronage of leaders of men. However, like the very few great men and leaders of industry, Herbert did not attain his current height by sudden flight. While most of his rivals and peers slept, he toiled upwards, day and night. As head honcho of Access Bank, Herbert understands the need to abide by the company’s corporate philosophy which is to become the world’s most respected African bank thus his conscious quest to leave an indelible imprint in the sands of industry and time by shunning corruption and various unethical practices characteristic of contemporary cutthroat banking. Herbert would never engage in any act or association that would be inimical to the progress and good image of his organisation. Indeed, genius is of no country. But it is surely of a descent of men who reach such an acute unlimited excellence in their prime, that every sterling exploit afterward, savours of unprecedented brilliance. Few men are wrought of such transcendent capacity for genius as Herbert Wigwe. The top banker pulsates exceptional intellect and that singular forthrightness that imbues philosophy with logic and sound theory.

THROUGH ADVERSITY AND GRACE

Only a handful of youths in their prime could summon the courage to desert the comfort they know for the uncertainty of elusive luxuries but Herbert was remarkably different. While many of his contemporaries fixated on making money from the confusion characteristic of the business zone, he held on to the bright rally-flags of industry and hope. A real man does not passionately believe in the perfection of humankind, yet he must remain dedicated to the pursuit of perfection with intent to achieve near-perfection. The innate fear of failure, he understood, has been the result of a cowardly recline from knowledge and the manipulation of certain dangerous factors in the physical world. For a man who challenged resolve with steely grit and exploited the arduous planes of ambition and toil till he encountered grandeur at the crossroads where wild contemplation and hard work morph into triumph, Wigwe, despite being feted and idolised across the world, will not be deified by anyone simply because he turns excellence and humaneness into an art form. Unlike the proverbial lazy bone who lived to see the sun rise before his eyes were closed while the chorus of dawn becomes his lullaby, Herbert worked through dusk and dawn to actualize his heartfelt dreams of grandeur. He knew quite early in life that his average family background should inspire him to success rather than become a burden and impediment to his spirited strides to success. He understood that to learn even the quarter of a breeze, he must hold up a wet finger. According to him when he was talking about how it all started in an interview, “I think one of the greatest opportunities we had and another thing that happened to us was to be blessed with great leaders. We had very strong ethical leaders and mentors and they were Mr. Fola Adeola and Mr. Tayo Aderinokun. As young as we were in our early 20s, they gave us a plain piece of paper to run a bank and it was unheard of. “They empowered us and just let us do what we wanted to do. It created the foundation for everything that we have done. You are always a function of the people you meet, the values you see and all of that. They instilled in us most of the values we have had as adults in terms of running a bank and how we see our vision for whatever institution we had. “Those 12 years in GTBank were great years under

Wigwe the leadership of two outstanding professionals and they truly helped us. They gave us also at different points in time truly the mantle of leadership to run the bank in fairness and these where clear delegations where they did not call from oversees to question our actions. So, in a way it was a great thing. But of course, the downside is the fact that you are creating monsters who now know how to do it and that was what happened. “But we remain ever so grateful and privileged to have worked with them. So the instincts were there in terms of the desire to run an institution, but the confidence-building process truly happened there (GTbank) and having been given the opportunity to do it, it was clear to us that we could truly run a bank even as young as we were”, he said.

IMMORTAL BOND BETWEEN AIG IMOUKHUEDE AND HERBERT WIGWE

Like a lightning shaft from Eden, Wigwe proved bookmakers wrong as he painstakingly forged Access Bank’s path to its esteemed height as one of the country’s top three banks today. When Aig quit the saddle as manager of the bank, it was believed that his successor, Herbert, would act according to stereotype and commence a vicious plot to reduce and make irrelevant, his friend and predecessor but Herbert didn’t do so. This is because the bond between the two exceeds the common affiliation of colleagues and random business partners. Herbert remained loyal to Aig Imoukhuede and together, they worked to improve the fortunes of their brainchild, Access Bank. And great thanks to the loyalty and vision of Herbert, the bank has grown remarkable leaps from the great height he inherited its saddle from Imoukhuede. Unlike other bank chiefs who do not have a mind of their own, Herbert is remarkably different. He is formidable in intellect, wisdom, experience and he is truly independent. Thus

he stands tall. Little wonder the management and staff of the bank sing his praises to high heavens. Aig on his part has never grown jealous of Herbert’s success in the saddle. Rather he does his bit to encourage and assist him in running Access Bank and lifting it to greater heights. You could be forgiven for thinking the threads of their friendship was woven in the colourful fabric of ‘till death do us part.’ But unlike most mortal friends, Aig Imoukhuede and Herbert Wigwe neither rip apart nor plow through the great, deep, tightly woven fabric of loyalty that defines their friendship. Aig and Herbert are truly friends like brothers. They have come a long way as buddies and business partners. It would be recalled that when they started Access Bank years ago, pundits in the banking sector believed the bank would not thrive and survive the gruesome years, but the smart, focused men weathered the storms of contemporary banking and today, they occupy enviable positions in the league of Nigeria’s most gifted and seasoned financial Czars. Beyond the walls of commerce, Aig and Herbert maintain very robust relations. Aig and Herbert’s friendship is undoubtedly wrought with great benefits; however, they cut a different portrait from the sordid and oft reviled imagery of contemporary ‘friends with benefits.’ They have certainly come a long way since that fateful day in 2002 when they saw a unique opportunity and grabbed it, acquiring what was then a small commercial bank, Access Bank. At the time, Access Bank was the 65th largest of 89 banks in the country. It is one of the top three now.

STEPPING DOWN BEFORE HIS TIME

According to Herbert Wigwe in an interview, “I think for us, sustainability is a very important part of our business. Issues that have to do with people, planet and profits – very, very

important. So we – together with the Central Bank of Nigeria, several years ago – launched the Nigerian Sustainability Banking Principles. And I think for several years we have been at the lead of it. “Things that have to do with gender balance; we started supporting female entrepreneurs, we introduced things like the maternal healthcare scheme – things which are not very normal, in the context of the continent. “But apart from that, I think the most recent aspect – which gives us a lot of pride – is the fact that we launched a green bond. And that green bond is Climate Bond Initiative certified – it’s the first in the continent. “And the more we do these things, the more we think other corporates will take a lead – and therefore lift up the continent as far as sustainability is concerned. And I think if you keep us side-by-side, most institutions in the continent and world over, I think we’re exactly where we want to be”. It is also worthy to note that Wigwe decided to step down as the CEO of the bank two years ahead of the expiration of his tenure a rarity in this clime. Analysts pointed out that the move is the hallmark of a leader with eyes on the goal. Indeed, Herbert is a miracle-working banker. Unlike the middling marabou, his miracles aren’t deceptive in nature rather each one is an event that creates faith in his abilities as fiscal guru and bank chief. The Access Bank chief is not just administrative Managing Director (MD) but a seasoned leader. Administrators are always cheap and easy to find, and even cheaper to keep but leaders are worth their weight in gold. Leaders are risk takers and they are often in very short supply; ones with enduring vision however, like Herbert, are pure gold. This is why he is continually revered and celebrated, among his clan and league of extraordinary men in the world. He understands the rudiments of the business landscape enough to tame the odds and he has done just that. He also understands that to be a man of honour and substance requires indeterminate exploits at dawn through dusk in honest industry. Wigwe knows that honour and longevity, like celery, flourishes in the dark shade – far from the blaze of disconcerting neon lights. As the new chief executive of Access Holdings Plc, particularly one dealing with intense pressures, Wigwe relies on many things, perspective and context; and strategic counsel and courage of conviction. However, chief among them is loyalty. And in a word, that strengthens Wigwe’s relationship with peer and his underlings. A strong and dedicated leader, he brings clarity of thought and purpose to his work. He is a good listener who comes to the table not with some preset notion of distrust but rather an open mind; he asks tough questions and tries to find solutions. In today’s climate, where people spend capital avoiding blame instead of finding common ground, the qualities Wigwe brings to his job are rare. That only makes leadership like his more valuable. Despite the tempestuous tides of the global business world, Wigwe continues to navigate the storms with a sturdy and solemn resolve to remain atop and afloat. An Alumnus of the Harvard Business School Executive Management Programme (Cambridge, Massachusetts, United States of America), Wigwe has a degree in Accountancy from the University of Nigeria (Nsukka, Enugu state), an MA in Banking and Finance from the University College of North Wales (now Bangor), and an M.Sc in Financial Economics from the University of London (the United Kingdom).

ACCESS-DIAMOND BANK MERGER: GREATEST MERGER EVER

When the Board of Access Bank Plc announced it had signed a Memorandum of Agreement (MoA) with Diamond Bank Plc (“Diamond”) regarding a potential merger of the two banks that would create Nigeria and Africa’s largest retail bank by customers, not a few must have expressed doubts about the likelihood of its success. In fact, the announcement was trailed with panic withdrawals from both banks as many did not get the message being passed. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ MONDAY, SEPTEMBER 12, 2022

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

Group Business Editor Eromosele Abiodun Email oriarehu.eromosele@thisdaylive.com

08056356325

S E P T E M B E R

S & P INDEX

9 , 2 0 2 2

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

10.25%

INDEX LEVEL

613.31%

1/4 TO DATE

-0.85%

N416.86/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

9.56%

1-DAY

0.16%

YEAR TO DATE

7.64%

*AS AT LAST FRIDAY

3-MONTH

10.52%

MONTH-TO-DATE

0.44%

Despite Domestic, Global Challenges, 40 NGX Listed Companies Reported Record N6.78trn Revenue

Kayode Tokede Despite domestic and global macroeconomic challenges, a total of 40 companies listed on the Nigerian Exchange Limited (NGX) announced combined revenue of N6.78 trillion in the half year ended June 30, 2022. The combined revenue in H1 2022 is 26 per cent higher than the N5.4 trillion recorded in the same period in H1 2021. Also, the 40 companies in the period under review posted 26.3 per cent increase in profit before tax to N1.55 trillion as against N1.23 trillion in H1 2021. The 40 companies had contributed to 3.54 per cent growth in Gross

Domestic Product (GDP) in second quarter (Q2 2022) from the 3.11 per cent growth it recorded in Q1 2021 on the backdrop of low consumer’s purchasing power, double-digit inflate rate, unstable foreign exchange, hike in operating expenses and severe competition. The 40 companies comprise of: 12 banks, six petroleum marketing/ Fast-moving Consumer Goods (FCMG) companies each, three cement/ breweries manufacturing companies, four health companies, one telecommunication company, among others. According to THISDAY findings, MTN Nigeria Communications Plc, followed by Dangote Cement Plc,

Ecobank Transnational Incorporated (ETI) and Nigerian Breweries Plc recorded highest revenue during the period. MTN Nigeria Communications reported 20.07 per cent increase in revenue to N950.09billion in H1 2022 from N791.26billion in H1 2021, while Dangote Cement reported N808.04billion revenue in H1 2022, representing an increase of 17 per cent from N690.55billion in H1 2021 MTN Nigeria also leads in profit before tax in the period under review, reporting N268.64 billion profit in H1 2022 from N215.12billion in H1 2021, it was closely followed by Dangote Cement with N264.89billion profit before tax in the period under review

from N281.25 billion reported in the corresponding period. Although the banking sector contributed 31.13 per cent or N2.55 trillion to the N6.8 trillion revenue recorded in H1 2022, ETI topped the performance chart in revenue generation. ETI in the period grew revenue to N503.6billion in H1 2022, representing an increase of 15 per cent from N439.49billion in H1 2021, followed by Zenith bank that reported N404.76billion in revenue from N345.6billion in H1 2021. The six petroleummarketing companies reported N605.89billion revenue in H1 2022 from N415.16billion in H1 2021, while

profit before tax grew significantly by 151.43 per cent to N103.56billion in H1 2022 from N41.2billion reported in H1 2021. Petroleum marketing companies benefited from the increase in the price of Premium Motor Spirit (PMS), and Automotive Gasoline/grease Oil (AGO) also called diesel. Analysts at Vetiva Research in a report titled, “Nigeria H2’22 Outlook: A Strange Labyrinth,” said, “Our demand outlook suggests that we will continue to see increased oil consumption on the back of improved industrial and domestic activities, although there are some setbacks to the global macro environment that may dent economic

output, slow down growth, and in turn affect oil demand. “For more specifics, the IMF had earlier projected the world economy to grow by 4.9 per cent y/y, but with global inflation on the rise and increasing geo-political tensions in various parts of the world, global economic growth has now been revised downwards to 3.6per cent y/y. “This slowdown in world output should typically affect oil-demand, however, the overall effect is expected to be minimal, and oil demand is anticipated to remain strong throughout the year.” Continued on page 25

Multiple Charges, Corruption Cost Nigeria $250bn on Agro-exports, Says NEPZA Chinedu Eze Nigeria Export Processing Zone Authority (NEPZA) has said that government agencies at the airports have become impediment to successful import and export business in the country.

NEPZA accused government agencies, including regulators like Nigerian Quarantine Service (NQS), National Food, Drugs Administration and Control (NAFDAC), Nigeria Customs Service (NCS), Nigerian Immigration Services (NIS) and others of

mounting extortions roadblocks, harassment of exporters and introducing illegal multiple charges on export goods, costing the country about $250 billon on agro-export produce. The agency said 11 out of 16 sundry charges on export of goods

are illegal, stressing that some of these have caused international cargo airlines to prefer flying out of Nigeria empty. Managing Director/CEO of NEPZA, Prof. Adesoji Adesugba made this known in his presentation, “Aviation & Cargo Export in

Nigeria,” at the 2nd Edition of Aviation and Cargo Conference. He highlighted some challenges that are militating against import and exports in the country. Adesugba who was represented by Assistant Director, Investor Promotion, Augustine Onyekwere

said, “Among the 16 sundry charges tracked for goods coming in or departing the country via airports, only five are officially recognised. Nigeria’s import-to- export airfreight ratio imbalance stood at 87:13 from Continued on page 25

M A R K E T D ATA A S AT F R I D AY, S E P T E M B E R 9 , 2 0 2 2 BILLS

BONDS DESCRIPTION Price ^14.20 14MAR-2024 13.53 23MAR-2025 ^12.50 22JAN-2026 ^16.2884 17MAR-2027 ^13.98 23FEB-2028

Yield

103.65

11.50

101.08

13.01

98.69

12.98

110.80

13.05

103.73

13.00

Change Updated Time (%) September -0.01 8, 2022 September 0.00 8, 2022 September 0.00 8, 2022 September 0.00 8, 2022 September 0.00 8, 2022

MATURITY NTB 13-Oct22 NTB 10Nov-22 NTB 26-Jan23 NTB 9-Feb23 NTB 9-Mar23

Discount

CPS

9.00

9.08

3.90

3.93

9.80

10.18

10.00

10.44

Change Updated Time (%) September 8, 0.00 2022 September 8, 0.00 2022 September 8, -0.01 2022 September 8, 0.00 2022

10.58

September 8, 0.00 2022

10.05

Yield

MATURITY NENL CP I 24-OCT-22 FSDH CP VII 27-OCT-22 SIBP CP III 27-OCT-22 DLMG CP IV 11-NOV-22 FDHP CP III 17-MAR-23

Discount Yield 20.67 21.22 14.78 15.08 13.95 14.22 17.62 18.19 15.42 16.76

Change Updated Time (%) 8, -0.01 September 2022 8, -0.01 September 2022 8, -0.01 September 2022 8, -0.02 September 2022 8, 0.01 September 2022

OTC F X F U T U R E S CONTRACT Current TENOR Contract Rate Updated Time ($/₦) (MONTH) NGUS SEP 28 439.60 September 8, 1 2022 2022 September 8, NGUS OCT 26 2 441.81 2022 2022 NGUS NOV 30 444.01 September 8, 3 2022 2022 NGUS DEC 28 446.22 September 8, 4 2022 2022 NGUS JAN 25 448.43 September 8, 5 2023 2022

MONDAY, SEPTEMBER 12, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

PenCom Clarifies DG’s Absence at Budget Hearing James Emejo in Abuja The National Pension Commission (PenCom) has explained that the failure of its Director-General, Mrs. Aisha Dahir-Umar, to honour a recent invitation by the House of Representatives Committee on Finance was not deliberate. The Chairman of the Committee, Hon. Saidu Abdullahi, had frowned at the absence of Dahir-Umar, refusing to give audience to senior officials of the commission until the DG appeared in person to defend its 2021/2022 budget and present the 2023-2025 Medium

Term Expenditure Framework/ Fiscal Strategy Paper (MTEF/FSP). However, the management, in a statement issued over the weekend, said contrary to the belief that the DG had decided to shun the committee’s invitation to appear before it, she was actually “out of town attending an official engagement.” However, the commission’s Commissioner of Finance, the Director and Head of Accounts and the Deputy Director and Head of Financial Planning represented her at the hearing, which is the usual practice whenever the DG

is unavailable. According to PenCom, “The director-general takes invitations from the National Assembly seriously and ensures that she attends personally except when the exigencies of her office make it impossible, in which case the relevant Commissioner and Management staff of the Commission represent her.” PenCom, nonetheless, noted with satisfaction the observation by the House Committee on the quality and comprehensiveness of the reports submitted to it by the commission.

PenCom Revises Regulation on Retirement, Terminal Benefits (III)

‘Nigeria is Still an Investment Destination’ Nume Ekeghe The Managing Director/ Chief Executive Officer, Sigma Pensions, Mr. Dave Uduanu and other cooperate executives and experts have alluded that despite macroeconomic indicators, Nigeria remains a viable investment haven. This was the shared view as professionals converged to discuss, “Preserving Value in Turbulent Times,” at Sigma Pensions business roundtable in Lagos. Panelist at the roundtable were; the Chief Marketing Officer Ikeja Electric, Mr. Ugo Obi-Chukwu, Co-Founder and Managing Director, CardinalStone Capital Advisers, Mr. Femi Ogunjimi, Vice President Sahel Group, Ms. Tosin Ojo, Principal at Actis, Ms.Folaseto Akin-Olugbade and the Director Real Estate, Actis, Ms. Funke Okubadejo. Speaking on the investment climate in Nigeria, Uduanu said: “Nigeria could be at an inflection point and for us to come out stronger we have to believe in markets, especially with unifying

exchange rates.” He stated that there are huge potentials yet untapped in organising the informal sectors, technology as well using funding assets. He added: “ In terms of investments, there is a renewed focus on every alternative, whether it is real estate, or private equity. But I would like to highlight is on asset financing. Today, everybody, every school, every hospital, owns their real estate. You don’t need to own your real estate especially as the PFAs have a lot of liquidity and this liquidity can be used to finance assets.” On his part, Ogunjimi said: “I think Nigeria is definitely investable. I have a bit of a contrarian view when it comes to investments. And I think is really usually institutions of turmoil that you create generational wealth because if you have a perfect environment, it’s hard to get any kind of investment when all the problems have been solved. So the question is, how do you look at the problems we have as opportunities? I do agree that those problems create

a lot of challenges, especially for us as institutional investors but for people as individual investors, I think there are a lot of opportunities.” He added: “What we see is that it’s still going to be a good market and there are several reasons why. Number one is the number of start-ups that are coming up, still continues to increase. There are so many more people now that are willing to write $20,000 checks $50,000 checks on their $100,000 checks.” Also, Akin-Olugbade on investing in Nigeria noted that investments should be targeted towards investing in companies and products that are solutions to problems in Nigeria. She said; “Nigeria is totally investable; I think fundamentally investors should invest in businesses that are addressing the basic necessities of life.” Okubadejo harped on Careful investments and urged participants to hold value in real estate and seek for investments that offer inflation protection.

United Invests Additional $15mn in E l e c t r i c F l y i n g Ta x i M a r k e t Chinedu Eze United has announced a $15 million investment in Eve Air Mobility and a conditional purchase agreement for 200 four-seat electric aircraft plus 200 options, expecting the first deliveries as early as 2026. The airline said this marks another significant investment from United in flying taxis – or eVTOLs (electric vertical takeoff and landing vehicle) – that have the potential to revolutionize the commuter experience in cities around the world. Under the terms of the agreement, the companies intend to work on future projects, including

Group Business Editor Eromosele Abiodun Deputy Business Editor Chinedu Eze Comms/e-Business Editor Emma Okonji Asst. Editor, Money Market Nume Ekeghe Senior Correspondent Raheem Akingbolu (Advertising) Correspondents Emmanuel Addeh (Energy) KayodeTokede(CapitalMarkets) James Emejo (Finance) Ebere Nwoji (Insurance) Reporters Nosa Alekhuogie (ICT) Peter Uzoho (Energy) Ugo Aliogo (Development)

studies on the development, use and application of Eve’s aircraft and the urban air mobility (UAM) ecosystem. “United has made early investments in several cutting-edge technologies at all levels of the supply chain, staking out our position as a leader in aviation sustainability and innovation,” said Michael Leskinen, President of United Airlines Ventures. “Today, United is making history again, by becoming the first major airline to publicly invest in two eVTOL companies. Our agreement with Eve highlights our confidence in the urban air mobility market and serves as another important benchmark toward our goal of net zero carbon emissions by 2050 – without using traditional offsets. Together, we believe our suite of clean energy technologies

will revolutionize air travel as we know it and serve as the catalyst for the aviation industry to move toward a sustainable future. “United’s investment in Eve reinforces the trust in our products and services and strengthens our position in the North American market,” said Andre Stein, co-CEO of Eve. “I am confident that our UAM agnostic solutions, coupled with the global know-how we have been developing at Eve and Embraer’s heritage, are the best fit for this initiative, giving United’s customers a quick, economical and sustainable way to get to its hub airports and commute in dense urban environments. It is an unparalleled opportunity to work with United to advance the US UAM ecosystem, and we look forward to it, “he added.

Sahara Foundation Empowers 11 Social Impact Fellows With $5000 Impact Fund Oluchi Chibuzor Sahara Foundation, a corporate citizenship vehicle of energy conglomerate Sahara Group, has empowered 11 social innovators with Five thousand dollars each to further deepen their commercial viability. Speaking at the Sahara Foundation and Leap Foundation Social Innovation Programme and Award presentation 2022, held in Lagos, the Executive Director, Sahara Foundation, Pearl Uzokwe, said they would continue to support entrepreneurs in line with their mission of deepening social innovation ventures. She stressed that beyond seed funding entrepreneurs must have the right tools and mindset to manage social innovative ideas into viable commercial businesses.

She said, “So, we are partnering with organisation to ensure that these fellows are taught the rudiments that will ensure they are investment ready, commercially savvy and their mindsets are changed. It is ensuring that they infuse good governance into the ways that they run their businesses across Africa. “Looking back over the years, Sahara founders have always had it in their DNA to give back to society; how do we give back in a way we feel is good for purpose, solve, push and ensure that we are moving this continent along. It makes sense to tap into one of those ecosystems that we already understand which is entrepreneurs and to go on better, we decided to look for entrepreneurs who are not just doing well on the economic side but those who are doing good.

PENCOM DG, Aisha Dahir-Umar The National Pension Commission (PenCom) introduced administrative sanctions in the recently issued Revised Regulation on the Administration of Retirement and Terminal Benefits to guard against delays in the payment of retirement and terminal benefits. PenCom, as previously reported on this page, issued the Revised Regulation for immediate implementation by Pension Fund Administrators (PFAs). The administrative sanctions are intended to ensure that PFAs process the payment of retirement promptly. The Revised Regulation includes sanctions for PFAs that delay the submission of a retiree’s request for payment of benefits, and other infractions such as negligence in processing retirement benefits. The following are the key administrative sanctions introduced by the Revised Regulation:

DELAYS IN SUBMITTING REQUESTS FOR BENEFIT PAYMENT

The Revised Regulation provides that if a PFA delays submitting a request for payment of benefits to the Commission for approval for more than ten working days from the date of submission of relevant documents, the PFA must pay an administrative sanction of N 200,000 plus N 20,000 for each day the delay continues. An employee may access their RSA as a result of mandatory retirement, compulsory retirement, medical retirement, or temporary loss of employment/disengagement. It is mandated that PFAs should speedily process and forward applications from pension contributors/retirees who wish to access their benefits.

DELAY IN PAYMENT OF RETIREMENT BENEFITS

PFAs are required to pay a retiree or beneficiary’s benefits once PenCom has approved them. If a PFA fails to pay retirement benefits within five working days of receiving a noobjection letter from the Commission, the Revised Regulation provides that the PFA shall pay an administrative sanction of N200,000 plus N20,000 for each day the delay continues. It is important to note that before benefits are paid, each PFA must obtain a no-objection letter from PenCom. A PFA and/or PFC that pays retirement benefits without the Commission’s prior approval will face a N 1 million administrative sanction. This is in addition to refunding either the principal amount paid or the lost investment income, whichever is higher.

DISCREPANCIES IN BENEFIT PAYMENT

The Revised Regulation provides that that a PFA that pays more than the amount specified on the no-objection granted by the Commission shall be liable to refund the amount overpaid and investment income lost as a result of the transaction, unless the difference is a residual amount or a result of return on investment. Similarly, any PFA that pays an amount lower than

that specified on the Commission’s no-objection approval must pay an administrative sanction of N500,000 in addition to the differential to the retiree.

FAILURE TO ENLIGHTEN RETIREES ON THE MODES OF ACCESSING RETIREMENT BENEFITS

Periodic retirement benefits can be obtained in two ways: through Programmed Withdrawal (PW) and through Retiree Life Annuity (RLA). The Revised Regulation has mandated PFAs to properly educate prospective retirees on the differences between the two modes of receiving retirement benefits. PFAs are now required to make hard copies of the CPS Retirement Pack available to prospective retirees. The pack explains salient issues that would guide retirees and facilitate a smooth retirement process. Furthermore, PFAs are required to advise prospective retirees to visit their websites and familiarise themselves with the CPS Retirement Pack. The Revised Regulation now provides that that a PFA who fails, neglects, or refuses to inform a retiree about the features of PW and RLA to enable the retiree make an informed decision will face an administrative sanction of N 500,000.

BENEFITS COMPUTATION

There are now administrative sanctions for PFAs that are negligent in calculating retirement benefits. The new regulation provides that that any PFA that submits a request to the Commission with incorrect information that is likely to result in the accelerated depletion of a retiree’s RSA balance, must pay an administrative sanction of N 500,000. Furthermore, the PFA shall refund to the RSA both the amount that was overpaid and the lost investment income. A provision has also been made that any PFA that submits a request to PenCom with incorrect information and then requests permission from the Commission to resubmit the request must pay an administrative sanction of N 100,000 per RSA. It is critical to note that administrative sanctions were introduced to ensure that PFAs comply with the provisions of the Revised Regulation. Furthermore, the Revised Regulation provides that any violation for which no sanction was prescribed would result in an administrative sanction of not more than N 2 million. All sanctions in the regulation shall be borne by the PFA or PFC and paid from its own company funds. This piece concludes our presentations on the highlights of the Revised Regulation on the Administration of Retirement and Terminal Benefits. The first part highlighted key changes to several existing provisions while clarifying others, the second part focused on several new provisions concerning Pension Enhancement, Voluntary Contributions, and payment under the Micro Pension Plan, among other things, the third part concentrates on Administrative Sanctions for PFA violations.

T H I S D AY ˾ MONDAY, SEPTEMBER 12, 2022

BUSINESSWORLD

STATUS REPORT

Guinness: Revenue Growth, Finance Cost Reduction Bo ost Profi ts

Kayode Tokede

ith a significant increase in revenue and decline in finance cost, Guinness Nigeria Plc announced one of its best results in many years to signpost the management’s understanding of business environment and consumers’ purchasing power in Nigeria. The audited financial statement for full year ended June 30, 2022 showed about 29 per cent increase in revenue to N206.82billion from N160.42billion in 2021. The breakdown of revenue showed a 28.9 per cent increase in Nigeria’s revenue to N204.87billion from N158.95billion reported in 2021, while revenue from Export rose significantly by 33 per cent to N1.95billion from N1.47billion in 2021. The company’s high volume and value growth in 2022 half year performance was owing to post-covid surge in demand on its Guinness, Malta, RTD, Main Stream Spirit (MSS), among others. In 2022, revenue from Guinness rose by 23 per cent to N69.5billion from N56.58billion reported in 2021, while revenue from Malta rose by 74 per cent to N60.72billion in 2022 from N34.97billion in 2021. In addition, revenue from MSS rose by 34 per cent to N32.7billion in 2022 from N24.39billion in 2021, while IPS gained 19 per cent to N13.82billion in 2022 from N11.57billion in 2021.

COST OF SALES

From the loss and profit figures, cost of sales rose by 17 per cent to N134.16billion in 2022 from N114,71hillion in 2021 to positioned gross profit to N72.66billion in 2022, representing an increase of 59per cent from N45.71billion reported in 2021. To mitigate the impact of the challenging environment, the company said it took bold & deliberate price increases, sustained stakeholder engagement and continued investment in community impact. The company leveraged on gain on disposal of property, plant and equipment that rose by 502.9per cent to N1.69billion in 2022 from N280.9million in 2021 and the sale of by-products that rose by 73per cent to N665.09million in 2022 from N385.48million in 2021 to report N2.74billion non-core business income in 2022 from N1.03billion reported in 2021. Total operating expenses, thus, rose 40.3 per cent to N51.06billion in 2022 from N36.38billion in 2021. The increase in total operating expenses was driven by 43 per cent hike in marketing and distribution expenses to N37.34billion in 2022 and 33 per cent

increase in administrative expenses that moved from N10.32billion in 2021 to N13.71billion in 2022. As finance income rose by 259per cent to N1.9billion in 2022 from N529.16million in 2021, finance cost dropped by 54 per cent to N2.13billion in 2022 from N4.63billion in 2021, as the management loss on remeasurement of foreign currency balances dropped to N1.16billion in 2022 from N2.53billion reported in 2021. In all, Guinness Nigeria closed 2022 financial year with N23.67billion profit before tax, an increase of 310per cent from N5.77billion in 2021. With about 77.7per cent increase in tax expenses to N8.02billion, profit after tax hits N15.65billion in 2022, the highest declared by the multinational company. The increase in profit gave the management to reward shareholders with a dividend pay-out of 46kobo in 2022, totalled N1.01billion on 2,190,382,819 ordinary shares of 50 kobo each. The shares of Guinness Nigeria in 2022 have enjoyed a positive run since the beginning of the year. The brewery firm listed on the NGX and the second most capitalized brewery after Nigerian Breweries has gained 132.05per cent in price from N39.00 to N90.50 as of July 29, 2022 when the full year ended June 30, 2022 financial year results was released to investing public. The company enjoyed buy-interests, which drove up the market capitalization to gain N112.8 billion to stand at N198.23 billion at the close of trading on July 30, 2022, from the opening figure of N85.4billion at the beginning of trading on January 4th.

PROFIT BACKED BY GROWING ASSETS.

Guinness Nigeria grew total assets by 27 per cent to N215.66billion in 2022 from N169.41billion in 2022, following increasing in Property, plant and equipment to N97.69billion in 2022 from N94.24billion in 2021. Also, increase in Inventories to N32billion in 2022 from N21.46billion in 2021 and Cash and cash equivalents that rose by 93 per cent to N69.1billion in 2022 from N35.9billion in 2021 played critical role in driving total assets in 2022. However, total equity rose by 21.12 per cent to N89.98 billion in 2022 from N74.3billion as retained earnings hits N41.44billion in 2022 from N25.74billion in 2021. As Guinness Nigeria reported 1.8 per cent drop

in total non-current liabilities to N11.95billion in 2022 from N12.16billion in 2021, total current liabilities closed 2022 at N113.73billion from N71. 83billion reported in 2021. The 2022 performance of Guinness Nigeria revealed business expansion and growing strength in winning market share. The performance showed that the multinational company has no plans to divest it shares from Nigeria amid its growing strategic business expansion.

INCREASING EXPANSION IN NIGERIA

The management while reacting to what it described as, “some false, malicious, and misleading publication trending on some social media platforms falsely alleging that Guinness Nigeria is relocating out of Nigeria and therefore planning to sell its lkeja Brewery site. The fake news had claimed that the lkeja site sale is part of an exit plan, and this falsehood is being irresponsibly circulated by faceless persons purporting to be property agents.” Specifically, the company maintained that, “Guinness Nigeria certainly has no plans to exit Nigeria, contrary to the orchestrated false publication making the rounds. We are strong, stable, and delivering value to our esteemed stakeholders. “We would also like to clearly state that the malicious publication is not in tandem with our current expansion and investment drive, as we recently reaffirmed our long-term strategic expansion plans in Nigeria with the acquisition of an additional 25-acre commercial property in the Ogba industrial area of Lagos purchased recently in late 2021.” “Contrary to the false information being circulated by detractors, we are renewed in our efforts to serve our revered consumers and creating more job opportunities for Nigerians as seen in the new $5million additional production line recently commissioned at our Brewery in Ogba, Lagos in October 2021. The company had opened its new state-of-the-art headquarters, a modern space designed to resonate the company’s mission – ‘celebrating life, every day everywhere’ – in Ogba, Lagos. During the ceremony, Board Chair, Guinness Nigeria, Dr. Omobola Johnson, said the new headquarters would create an environment where all employees and other stakeholders feel included and able to perform at their best.

“We recognise our employees’ needs, especially after working remotely for so long. So, we have created a modern and agile workspace designed for maximum connectivity, collaboration and connection in line with the new world of work,” Johnson said. The Managing Director, Baker Magunda, revealed that the initiative reaffirmed the company’s commitment to its drive towards sustaining its long-term business goals in the country. “This re-establishes Guinness Nigeria as a forwardthinking organisation. We remain committed to developing the capacity to grow our brands and optimise performance to cater to the needs of our consumers while creating the right environment for all stakeholders to thrive. “The move represents a significant shift, not just in where we work but how we work, enabling us to eliminate boundaries, be more connected, and be more future-focused. For us, this represents ‘the future of work’. We have created an environment where all our employees feel included; our diversity and inclusion culture is enhanced and our people are empowered to maximise their full potential through effective collaborations, creativity and improved connections within the business and value chain.” Guinness Nigeria in August 2021 had announced plans to expand its operations and production capacity in Lagos, over the next few months. The country’s foremost Total Beverage Company has now completed the acquisition of 25 acres of commercial property in the Ogba industrial area of Lagos. The Managing Director Guinness Nigeria Plc, Baker Magunda in a statement reaffirming the company’s overarching strategy and expansion plans, describing it as a reflection of its belief in the Nigerian economy and ongoing commitment to the country’s development. He said: “This bold acquisition comes with an ambitious investment plan of expanding our production capacity and operations in Nigeria. We remain steadfast in our commitment to Nigeria’s growth and development while enhancing our shareholders value in the long term. It is also part of our strategy to optimize our production assets and thereby ensure improved operational efficiency leading to greater value for our shareholders”. He added, “On completion of this phase of our expansion, we will be increasing our capacity to meet the growing demand for our products while creating more opportunities for Nigerians, in addition to the over 180,000 jobs we currently support directly and indirectly in our value chain.”

MULTIPLE CHARGES, CORRUPTION COST NIGERIA $250BN ON AGRO-EXPORTS, SAYS NEPZA available statistics. The implication according to cargo agencies is loss of at least about $250 billon on agro-export produce to the country.” He identified other challenges to include lack of modern Infrastructure, lack of corporate governance, policy and regulation, high cost of aviation fuel, inadequate funding and resources, high cost of operation, insecurity, insurance and corruption.

He said the Federal Government of Nigeria in order to support the aviation industry and stimulate multiplier effects in the economy in May 2021 designated the four major international airports (Lagos, Abuja, Kano and Port Harcourt) respectively as Special Economic Zones to enable the companies operating at these airports enjoy the benefits of the free zone scheme.

He explained that SEZ are designed to accelerate investment in the aviation sector and its value chain, improve the utilisation of the airports, generate more revenues for the Federal Government as well as attract more local and foreign direct Investment and increase aviation contribution to the GDP. According to him, SEZ can grow the aviation and cargo export in Nigeria with the incentives and

concessions available in the Nigeria Free Zones with concepts like tax holidays, one stop approvals as well as 100 per cent foreign ownership of businesses. He said, “Complete tax holiday from all federal, state and local government taxes, rates, customs duties and levies, one-stop approvals for all permits, operating licenses and incorporation papers. Duty-free, tax-free import

of raw materials and components for goods destined for re-export. Duty-free importation of capital goods, consumer goods, machinery, equipment, and furniture.” He said government allows the permission to sell at 100 per cent of manufactured, assembled or imported goods into the domestic Nigerian market and meeting the 35 per cent value addition. He added, “Export duty into

the custom territory is calculated based on the value of the raw material or components used in assembling the product not on the finished product’s value. 100 per cent foreign ownership of investments is allowed. So also is 100 per cent repatriation of capital, profits and dividends as well as waiver on all import and export licenses, waiver on all expatriate quotas for companies operating

DESPITE DOMESTIC, GLOBAL CHALLENGES, 40 NGX LISTED COMPANIES REPORTED RECORD N6.78TRN REVENUE Analysts expressed that the revenue increase by listed companies showed a steady increase in macroeconomic activities, stressing that some companies are still recovering from the COVID-19 pandemic. The Managing Director, High Cap Securities Limited, David Adonri, said, “Nigeria economy still recovering from the Covid-19 pandemic and we witnessed further

disruption in the global economy due to the ongoing Russia/Ukraine war. “Apparently, Tier-1 banks benefited from the hike in interest rate in H1 2022 hence, improving gross earnings and impacting on profit. The banks were able to increase profits through stern cost reduction measures. “Their negative growth returns, in comparison to the hyperinflation bedeviling the economy, are fallout of

the general weakness of the nation’s socioeconomic fundamentals. “The industrial sector was already coming from a low base due to the lower level of activity reported for H1 2020 due to the lock down. “Hence it was possible for most of them to report higher profits for the period. Though, market activity remains weak on the NGX, as investors will continue to be

attracted to improved performance just as is being experienced in the upside in the price of companies that have reported higher profits and increased interim dividend.” On banks, performance, he said: “Tier 1 banks, Zenith, First Bank Nigeria Holdings, among others have significant increase in profit after tax but GTCO have fallen below expectations. “Meanwhile, Tier – 2 are

relatively better in terms of profit especially by Fidelity Bank and Sterling Bank while Stanbic IBTC outshine H1 2021 performance in PBT better than the previous year. It shows that Tier- 2 is catching up with the challenge and hope to meet expectations.” Reacting, analysts and Chief Operating Officer at InvestData Consulting Limited, Mr Ambrose Omordion said: “Financial

performance of the banks in H1 2022 has been mixed with more positive outings by the Tier-1 banks that control almost 60 per cent of business activities in the economy. “OPEX (Operating expenditure) was higher due hike in the cost of doing business. The operators expect an adjustment in foreign exchange to be positive for most of the Tier-1 banks which is likely before the end of the year.”

MONDAY, SEPTEMBER 12, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

FAO: Poor Quality Standards Danger to Food Security James Emejo inAbuja The Food and Agriculture Organisation (FAO) Country Representative in Nigeria and ECOWAS, Mr. Fred Kafeero, has said the organisation remained committed to ensuring the supply of safe, quality, and nutritious foods, adding that this is as important as ensuring the availability of foods and their standardisation. Kafeero insisted that poor-quality foods posed a real threat to national food security. Speaking at the one-day sensitisation workshop for highlevel policy and decision-makers and the public presentation of the National Codex Committee Procedural Manual in Abuja, the FAO country representative said it has been providing Nigeria with requisite support towards ensuring food safety and availability. Kafeero was represented at the occasion by the FAO Country

Assistant Representative, Mr. David Fehintola. He said, “FAO has been supporting the National Codex Committee (NCC) in Nigeria, which has members from all the MDAS and the Private sector through the execution of the Codex Trust Fund 2 activities with a focus on the implementation of the Codex Strategic Plan 2020-2025.” He said since the inception of CAC, FAO has worked with the World Health Organisation (WHO) in the development of international food standards, guidelines, and codes of practices to protect the health of consumers and ensure fair trade practices in the food trade using the principles of risk analysis and scientific advice provided by joint FAO/WHO expert bodies and consultations. Kafeero added, “In Nigeria, the FAO country office with support from the regional office for Africa continues to partner with the Government of Nigeria and the National Codex Committee

towards creating effective and efficient policies and strategies to eliminate hunger, food insecurity and malnutrition in the country. According to him, the NCC is saddled with the responsibility of implementing the standards of the Codex Alimentarius Commission which was established in 1963 to develop food standards, guidelines and related texts such as codes of practice under the Joint FAO/WHO Food Standards Programme. This came as the Director-General, Standard Organisation of Nigeria (SON), Mr. Farouk Salim, commended the FAO and NCC for critical roles in the elaboration of food Standards at the international level, especially at the various committees of the Codex Alimentarius Commission where standards are adopted at the national level. Represented by his Chief of Staff, Prof. Olobayo Kunle, he said NCC had also contributed to the review of the food safety policy and food safety bill in Nigeria.

L-R: The Managing Director, Nigerian Ports Authority (NPA), Mohammed Bello-Koko (left) presenting the Authority’s plaque to the High Commissioner of Namibia to Nigeria, Mr Humphrey Geiseb during a courtesy visit to the Management of NPA at the Corporate Headquarters, Lagos… recently

Eat ‘N’Go’ Investment in Nigeria Hits N26bn, Targets 200 Stores in Africa Gilbert Ekugbe The Group Managing Director and Chief Executive Officer, Eat ‘n’ Go Limited, Mr. Patrick McMichael, has stated that its investment in Nigeria has hit over N26 billion in assets. According to him, the investment is a clear demonstration of the firm’s believe and confidence in the Nigerian economy. He stated this at a press conference to celebrate its 10 years of continuous operation in Nigeria. He said over the past decade, Eat’N’Go Africa has grown to become the go-to place and onestop shop for customers looking to indulge in utmost satisfaction and fun, adding that as part of its growth trajectory, the leading Quick Service Restaurant (QSR) brand has remained consistent in the expansion of its services

to more Nigerians and Africans at large and has continued to leverage best business practices to offer exceptional values to its customers across Nigeria. He noted that since the inception of Eat’N’Go in Nigeria, the organisation has documented a significant impact on the socio-economic and human capital development within the communities they operate. “In 10 years of its existence, the brand has increased its outlets to 190 and grown across Nigeria, expanded into Kenya, and directly impacted over 4000 staff,” he added. The Eat ‘n’ Go boss expressed his delight in the firm’s achievements over the past 10 years, saying that as an organisation, it is extremely elated to celebrate this giant milestone, especially after the

economic hard-hit brought about by the pandemic. “We have scaled through the good and tough times, and we are celebrating our achievements while also learning new innovative ways to continuously satisfy our customers,” he said. The CEO also announced the success of the organisation’s CSR projects, stating that Eat’N’Go is vested in the future of the society and its human capital development. “For this reason, we are committed to taking the desired steps in ensuring that we support the underprivileged especially those within communities that have limited access to quality education. For instance, our partnership with Slum2School has provided education for over 3000 children who have been put in school,” he stated.

NIMASA, NIS Deepen Collaboration for Maritime Security The Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigerian Immigration Service (NIS) have agreed to deepen existing interagency collaboration with the signing of a Memorandum of Understanding, (MoU) on Seafarers’ Travel document amongst others. The agreement was reached when the Comptroller General of NIS, Mr. Isah Idris Jere led senior officials of the service on a working visit to the management of NIMASA. Speaking, the Director

General of NIMASA, Dr. Bashir Jamoh noted that the role of the Nigerian Immigration Service in enhancing security in the maritime domain is crucial, adding that seamless issuance of travel documents to seafarers is a key component in the nation’s quest to grow the maritime industry. According to Dr. Jamoh, “Security on land is key to achieving a safe and secure maritime domain. NIMASA appreciates the need to work closely with the Immigration Service to improve security in the maritime domain. We

need the Service to play a major role in issues of crew nationality, seafarers travel document and managing issues of stowaways, amongst others.” On his part, the NIS Comptroller General identified issuance of temporary work permits to international vessel crews as well as preventing stowaways, as areas of frequent collaboration between both organs of Government while also commending NIMASA’s automation of dockworkers registration nationwide.

T H I S D AY ˾ MONDAY, SEPTEMBER 12, 2022

BUSINESSWORLD

NEWS

LASG Harps on Collaboration, Team Work to Develop Talents Emma Okonji The Lagos State Employment Trust Fund (LSETF) has stressed the need for collaboration, teamwork and idea sharing, among persons with special tech skills in a work space community, to further develop their talents. The Executive Secretary at LSETF, Tejumola

Abisoye, gave the advice in Lagos at the weekend, during a one-day programme organised by Terawork for graphic artists, content developers, printers, copy writers, software engineers, and data analysts who are freelancers on the Terawork community platform. Abisoye who decried the state of the Nigerian Economy,

which according to her, is not growing in proportion to the high growth rate of the Nigerian population that is growing at 2.5 per cent per annum. “The Nigerian population is growing faster than the economy itself, and the economy is not able to provide enough jobs for the people. The Terawork platform therefore provides the best

opportunity to address the situation by bringing together, content developers and other persons with specialised tech skills who can deliver jobs to interested job hirers, ”Abisoye said. One of the facilitators at the #BeyondWork programme, Yinka Davies, said people must learn how to balance work

with leisure and rest, insisting that in any community where pool of talented people operate, like the Terawork platform, the freelancers must learn how to manage their work time to enable them have time for other activities that will help them develop a healthy lifestyle. Co-founder and CEO,

Terawork, Mr. Femi Taiwo, who spoke about passion and trust in a workspace community, said Terawork platform was created to address unemployment challenges and to provide avenue where job buyers could easily find skilled persons that can deliver on certain jobs, based on trust and better quality of service.

Committee Hails NEPZA on Projects Execution at Economic Zones James Emejo in Abuja The Joint Projects Monitoring Committee, which comprised of officials from the Ministry of Industry, Trade and Investment and the Nigeria Export Processing Zones Authority (NEPZA) has expressed satisfaction over the level of progress so far recorded on the 112 approved projects for the authority. The projects, captured under the NEPZA Tender Board of 2017-2021, direct Federal Executive Council (FEC) approval and the Ministerial Tender Board of Capital Projects are located at Calabar Free Trade Zone (CFTZ), Kano Free Trade Zones (KFTZ) and the newly approved Lagos and Kwara Special Economic Zones respectively. Out of the 112 ongoing projects, a total of 76 have

been completed with the CFTZ accounting for 28; KFTZ 38; Lekki SEZ 5; and Ilorin SEZ 5 while others are at different levels of completion. Some of the projects include Erosion Control Works & Rehabilitation of Collapsed Perimeter Fence at CFTZ; Construction of Emergency Exit Gates & Access Road to the Jetties at CFTZ; Re-Asphalting of the Exiting Dual Carriageway Road Network at CTFZ; Consulting Services for Masterplan & Architectural Design at Kwara SEZ; Consulting Services for Engineering & Infrastructure Design at Kwara SEZ; Quantity Surveying for Feasibility Studies at Kwara SEZ; and the Development of initial 5MW Power Plant & Electrical Reticulation within the Ilorin SEZ.

L-R: Chief Marketing Officer Ikeja Electric, Mr. Ugo Obi-Chukwu; Co-Founder and Managing Director, CardinalStone Capital Advisers, Mr. Femi Ogunjimi; Vice President Sahel Group, Ms. Tosin Ojo; Chief Executive Officer, Sigma Pensions, Mr. Dave Uduanu; Principal at Actis, Ms.Folaseto Akin-Olugbade; Director Real Estate, Actis, Ms. Funke Okubadejo; Moderator and Arise News Anchor, Rotus Oddiri and Deputy Chief Investment Officer, Mr. Wale Okunrinboye at an exclusive business roundtable hosted by Sigma Pensions in Lagos… recently

Afreximbank, Ganic Foods Sign N16.56bn Dual Tranche Export Development Facility Raheem Akingbolu African Export-Import Bank (Afreximbank), has announced, at the 2022 AfriCaribbean Trade & Investment Forum, the finalization of a lending deal with Ganic Foods Limited, which takes the form of a N16.56billion Dual Tranche Export Development Facility According to a joint statement released by the two partners, the

deal has been designed to support Ganic in its construction of a Palm Kernel Expellers plant, a Soyabean Solvent Extraction Plant, as well as a Vegetable Oils Refinery– all located within an area in excess of 50,000 square meters at Odofin-Oke Village, along Shagamu-Abeokuta Expressway, Ogun State, Nigeria. The total Project cost is estimated at N27 billion.

In financing this project, Afreximbank materially supports the development of a local substitute for imported edible oil – by locally producing high quality soya and vegetable oils – and thereby the reduction of Nigeria’s dependence on imported (and, in some cases, smuggled) edible oils. This reduced exposure to imports will also go some way to insulate Nigeria from the

pricing volatility of edible oils on international markets. This development has the capacity to bridge overall production shortfalls and address the market gap driven by demand for high value edible oil. Immediate benefits of the project include the creation of over 200 jobs (with an estimated 1,000+ indirect labours) and support for 2,000 local farmers in Nigeria– once operational.

28 T H I S D AY MONDAY SEPTEMBER 12, 2022 TR

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Monday September 12, 2022 Vol 27. No 10016

opinion@thisdaylive.com

www.thisdaylive.com

RETENTION OF HUMAN RESOURCES IN THE HEALTHCARE SECTOR The brain drain will continue until government is willing to address the problem, writes AMENZE EGUAVOEN

See page 29 OMOKRI’S OLD SONG ON MUSLIM-MUSLIM TICKET JOSEPH Y. CHIBOK argues that Omokri’s piece is mischievous

See page 29 EDITORIAL THE RETURN OF YELLOW FEVER

See page 30

It is the role of the leader to drive the culture of innovation, argues LINUS OKORIE

THE CULTURE OF INNOVATION, THE PATH WAY TO NIGERIA`S WEALTH Innovate or die. This expression holds true for any system that want to remain relevant. We live in an ever-dynamic business environment. Technology has brought about so much competition in the marketplace that there is a constant battle to stay relevant with the fast pace of changes that occur on a daily basis. The ever-newer technologies introduced into the market has made it so easy to be termed obsolete without one even realising that things have moved. Therefore, to remain relevant and competitive, it is very imperative for a culture of innovation to become ingrained within our organisations and systems. “Innovation is the implementation or creation of something new that has realized value to others.” Innovation is realized most vividly in the form of a WRRO SK\VLFDO EHQHÀW RU DLG WKDW VROYHV D problem or creates an advantage.” Innovation means stepping out of the tradition. It means new ways of doing WKLQJV ,W PHDQV GDULQJ WR EH GLͿHUHQW It means the ability to organize your thought processes to enable you bring out a service or product that can give customers another level of experience. Innovation requires strategic forgetting of your old failures and just trying it out again. The question that comes to mind then is, “can innovation become a culture?” Can innovation really become a way of life within our organisations and even our nation? Whose role is it to drive innovation within systems? It is the role of the leader to drive the culture of innovation. Once the leader becomes aware that he has the responsibility to drive the culture within his system, he begins to take proactive steps to ensure the right culture is in place. In the bid to create a culture where innovation thrives, some organisations SODFH D ORW RI HͿRUWV RQ WKH SK\VLFDO elements like artistic drawings on walls, ÀJXULQHV SK\VLFDO VSDFH UHVWUXFWXULQJ etc. While this is good in itself, it will RQO\ FUHDWH D VKRUW WHUP HͿHFW For a culture of innovation to become ingrained in any system, whether in the private or public sector, the leaders in these spaces must support, encourage and reward individuals who display: strong drive and persistence to tackle big opportunities; possess the self FRQÀGHQFH WR TXHVWLRQ VWDWXHVTXH DQ obsession for problem solving; passion for personal development; the ability to work with diverse stakeholders to generate resources needed; adaptability EDVHG RQ WKH HQYLURQPHQW WKH\ ÀQG themselves.

Research has shown that innovation thrives better in diversity. “This is particularly true for the largest companies. Among companies with more than $10 billion in annual revenues, 56% strongly agreed that diversity helps drive innovation. “Because of our diverse workforce, we’ve experienced a boost in productivity. When you can move people to contribute to their fullest, it has a tremendous impact,” noted Rosalind Hudnell, director of global diversity and inclusion at chip maker Intel. Our leaders must begin to see our diversity as a strength and leverage on that strength to create a culture of innovation within all sectors of our economy. We must begin to encourage the supremacy of ideas and not tribe because ZKHQ ZH SXOO WRJHWKHU RXU GLͿHUHQW ideas, which will be generated from GLͿHUHQW SHUVSHFWLYHV WKH FRPELQDWLRQ

Our leaders must begin to see our diversity as a strength and leverage on that strength to create a culture of innovation within all sectors of our economy. We must begin to encourage the supremacy of ideas and not tribe because when we pull together our diﬀerent ideas, which will be generated from diﬀerent perspectives, the combination of these ideas will birth a unique product that can be exchanged for value in the market place

of these ideas will birth a unique product that can be exchanged for value in the market place. Singapore was a tiny, impoverished island with a diverse population of recent immigrants. They had little shared history and no natural resources. Very few expected Singapore to survive when it became an independent country in 1965. To survive, however, their Prime Minister, Lee had to champion the integration of a culture within their country that gave them competitive advantage. Today, Singapore has become a cosmopolitan center, that is able to attract, retain, and absorb talent from all over the world. We must understand that in times of uncertainty, only individuals who set clear goals, and strategize on how the process can be improved upon to produce better results can withstand the wave of competition. To innovate requires pain, and the truth is that most people run away from any activity that requires them engaging their minds in an intense manner. You cannot as a leader LQ \RXU ÀHOG RI HQGHDYRXU DͿRUG QRW WR engage your mind in a creative way. I charge our leaders today, business leaders, social leaders and political leaders, etc., to begin to champion innovation in their spaces; to create the right atmosphere where the people WKH\ OHDG IHHO FRQÀGHQW WR JHQHUDWH communicate and implement their ideas. Great people of Nigeria, you must remember, if a person does not have a purpose for waking up, sleeping becomes interesting. Okorie is a leadership development expert spanning 27 years in the research, teaching and coaching of leadership in Africa and across the world. He is the CEO of the GOTNI Leadership Centre.

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MONDAY SEPTEMBER 12, 2022

JOSEPH Y. CHIBOK argues that Omokri’s piece is mischievous The brain drain will continue until government is willing to address the problem, writes AMENZE EGUAVOEN

RETENTION OF HUMAN RESOURCES IN THE HEALTHCARE SECTOR in service, etc. This will make it possible to identify the healthcare workforce needs that are in line with our health and GLVHDVH SURÀOH ,W LV QRW HQRXJK WR VD\ WKDW a certain number of doctors or nurses are needed according to our population and WHO recommendations. Having that information is one part of the solution, more important, is knowing the skills and specialties needed by geographical location. The rapid loss of healthcare workers has not been met with equal rate of employment instead, the government has maintained an embargo on hiring in state and national institutions. To navigate the embargo, many healthcare facilities and state governments hire healthcare workers as volunteers contributing to the high rates of underemployment and poor job security which further underscores the willingness to migrate. Assuming healthcare workers were being hired to meet the needs of the population, it would take Nigeria several years to meet the recommended healthcare workers to population ratio. Nigeria currently produces about 3,000 doctors and 14,000 nurses each year. In Abia State alone, the Nigerian Medical Association reported that at least two doctors resign each month. The limited capacity of various training institutions has contributed to the cap on number of healthcare workers produced annually. only has to ask how much of this social Many institutions are underfunded and capital would be needed to survive and have outdated facilities; while those that thrive in a country riddled with insecurity, have some additional funding are not poverty, and hunger thereby earning the accredited to take on as many students DV ZRXOG EH VX΀FLHQW WR ÀOO WKH JDSV term “the trenches” by Nigerians online. Although most highly skilled sectors When these professionals are trained and are experiencing a loss of professionals, employed, it would still take years to gain the health sector has been badly hit. the experience that is required to function This trend has existed for years, but the optimally and provide the quality of COVID-19 pandemic brought on a major healthcare that is needed now! For the active healthcare workers in the push/pull dance where human resources for health (HRH) or healthcare workers system, there is a glaring absence of a clear experienced a greater pull from the structure and path for capacity building Western world. This pull presented in the that can be tracked and evaluated. This is IRUP RI GHOLEHUDWHO\ VLPSOLÀHG PLJUDWLRQ particularly true for those who are outside policies and processes, better pay, better of residency or formal training programs. work environments, functional and In other climes, certain trainings must be equipped hospitals, security, and access to completed each year by health workers basic amenities. Unfortunately, while the in various cadres of the health system. Western world pulled healthcare workers, 7KLV WUDLQLQJ LV VSHFLÀF WR WKHLU FXUUHQW Nigeria pushed through unpaid salaries, roles, and the renewal of their licenses ULVLQJ LQVHFXULW\ VRDULQJ LQÁDWLRQ UDWHV is dependent on training completion absence of personal protective equipment thus ensuring a skill match necessary for in hospitals, and a fragile healthcare provision of quality healthcare services. In system which left healthcare workers Nigeria, Continuous Medical Education is required for practicing licenses to be vulnerable to COVID-19 infection. To improve health outcomes in UHQHZHG KRZHYHU WKHUH DUH QR VSHFLÀF Nigeria, such as life expectancy, maternal course recommendations and courses mortality, infant mortality, etc., the right taken are not tracked. A structured and quantity and mix of human capital predictable capacity building and career resources are needed in the healthcare advancement plan will contribute to sector. Presently, the country lacks a clear transparency, a clear sense of purpose and picture of its health workforce, although IXOÀOPHQW IRU KHDOWKFDUH ZRUNHUV ZKLFK some states are working to address this. would potentially translate to increased Kaduna State, for instance, has a good productivity and retention. If the government is serious about VHQVH RI LWV KHDOWK ZRUNIRUFH SURÀOH DQG is using this information to plan. Many stemming the brain drain and ensuring states remain without an idea of how the availability of healthcare workers in their health workforce is distributed. Nigeria, an intentional and multisectoral There is an immediate need to conduct a approach is vital for success. mapping of the current health workforce Dr. Eguavoen, in Nigeria to determine the number, Programmes Manager, Nigeria Solidarity spread, and type of health workers Support Fund, writes from Lagos available, by gender, age, city type, years If you were to ask any young person in Nigeria today what their plans are, professionally or otherwise, they would outline the steps they are taking to “japa” without missing a beat. The exodus of Nigerians is not limited to young professionals, though; it is happening across all cadres. Nigeria is bleeding out its workforce at an alarming rate, and by default, we are providing skilled workers at a highly subsidized rate to economies that are willing to pay the right price in terms of salaries, welfare packages, and societal packages. While migrating Nigerians will miss the social capital they gained in Nigeria—a culture that is rapidly dwindling anyway—many will gladly trade it for a chance at life. One

OMOKRI’S OLD SONG ON MUSLIM-MUSLIM TICKET Some months ago, the All Progressives Congress (APC) came up with a clever, political calculation aimed at helping it win next year’s presidential election by deciding that a northern Muslim- former Governor Kashim Shettima of Borno State- should pair with the southern Muslim candidate of Asiwaju Bola Tinubu, for the 2023 crucial presidential election. The decision certainly disconcerted a good number of Nigerians who felt that that move was not good enough given our country’s religious sensitivity. But party elders and strategists did not drop the message as a takeit or leave-it matter. They were not unaware of or unconscious of the sensitivity of the

decision they had just taken. They said what was right in their political wisdom for them WR VD\ SXEOLFO\ LQ MXVWLÀFDWLRQ RI WKH PRYH and what was not expedient for them to say publicly, they left it unsaid. +RZHYHU SDLQVWDNLQJ HͿRUWV ZHUH PDGH on the part of the party, its apparatchik and sympathisers to explain the rationale behind it. It was said that since the advent of this democratic dispensation in 1999, majority of Christians in the North East and North Central zones of the country have consistently and overwhelmingly voted PDP in most presidential elections, it will, therefore, not EH ZLVH RU SURÀWDEOH WR FKRRVH D &KULVWLDQ DV running mate to the APC candidate. It was sensibly explained that in view of this clear reality, the concession of this part of the ticket to Northern Muslims was not in any way a bid to punish the Northern Christians for their political inclination but clearly a legitimate device of a competitive political party to win a crucial political contest. No matter how painful this argument sounds to you as a patriotic Nigerian who, ordinarily, would not care about religion or region in WKH TXDOLÀFDWLRQV RI D FDQGLGDWH IRU D SROLWLFDO R΀FH RU QR PDWWHU KRZ LQVXOWHG \RX IHHO DV a Christian northerner or southerner, you cannot fault the truth of that argument. Serious political parties all over the world enter into electoral contests to win. They don’t do so to assuage bruised ego or some sentiments. It is true that in the process of political contests, LQHYLWDEOH EUXLVHV DUH LQÁLFWHG RQ VRPH persons, groups or individuals and that is why party organs or machineries exist to address so observed lapses or oversights while the party marches on with its campaign. When the logic of this APC’s violation of a convention was explained, many reasonable and liberal-minded Nigerians accepted the explanation. Those who did not fully buy the argument have been generous enough by conceding that a political party of the experience and sophistication of the APC reserves the right to live with the consequences of its decisions if some of its members and antagonists are truly convinced

that its decision is terribly wrong for the party and or country. The party has GHFLGHG WR FRXUDJHRXVO\ DQG FRQÀGHQWO\ forge ahead with its consultations, convinced of the rightness of its decision. It was not motivated by political or any other malice against any religious group or political constituency. It simply wants to win an election it thinks it has good chances of winning! The performance of its Vice-Presidential candidate, Kashim Shettima, in the recent Nigerian Bar Association Conference held in Lagos has done so much to convince earlier pessimists of its choice of a running mate, that the APC can indeed win the 2023 presidential election despite doubts of earlier belief. Some of us, therefore, think that it is this positive development for the APC and its HͿRUWV VR IDU LQ KROGLQJ XQWR LWV UHVROYH WR respect its earlier stand on the presidential running mate issue that has now created panic in the camp of her opponents, especially the PDP, which believes the party has self-destructed with the choice of Shettima. This explains why in the past few days, the PDP is strongly suspected of being the source or sponsor of the daily manufacture of groups upon groups in the name of one northern APC Christian group or the other with one and only one goal: address a press conference and call on APC to jettison the Muslim-Muslim ticket. The aim is to create hate for the APC, heat up the polity and present a scenario that the idea of a Muslim-Muslim ticket is so abhorrent especially among northern Christians that the move be given up or else the APC will eventually poison itself. As this gambit is not appearing to be working, the PDP has apparently taken possession of what looks like its last desperate trump card: use a wellknown social media warrior in its arsenal: Reno Omokri, to bring in a Biblical, Apocalyptic narrative of an End Time Islamic agenda to conquer, dominate and destroy Christianity and enslave all its practitioners on the surface of the earth for a Millennium if a political party in 1LJHULD FDOOHG $3& LV DOORZHG WR Á\ LWV Muslim presidential and Muslim vicepresidential candidate to run an election! That is the essence of Mr. Omokri’s article entitled ‘’Muslim-Muslim Ticket: Lessons From The Islamisation of Constantinople’’ published in his Tuesday column of THISDAY newspaper of September 3, 2023. No falsehood can be so blatant, so outrageous to dignify an intellectual argument. The truth of the matter is that to even Reno Omokri himself, to those he is running errands for, including Atiku Abubakar and the entire PDP hierarchy, they know that they are embarked on mischief and the misleading of the clearly gullible who can be led by the nose to believe the unbelievable. No matter what length anyone can seek to stretch the truth in an election year among a gullible people, no one can make sense in saying that the presentation of the number one or number two men of similar faith in an election is ever remotely a part of an agenda to sack other faiths from a social polity. Chibok writes from Abuja

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T H I S D AY

MONDAY SEPTEMBER 12, 2022

EDITORIAL

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

THE RETURN OF YELLOW FEVER The health authorities could do more to tame the disease

available in all primary health care centres in the he renewed spike of yellow fever is a country. It is also curable with vaccines known as 17D. wake-up call on the federal government Since we live in the tropics, and cannot completely and health authorities in the states to eliminate mosquitoes, prevention remains the most be more proactive in dealing with the potent weapon against the disease. disease. Between January and July this It is indeed a crying shame that Yellow fever still kills year, according to the Nigeria Centre for dozens of Nigerians every year. According to WHO, Disease Control (NCDC), a total of 1,179 suspected no human should die from preventable diseases, cases of Yellow fever and 14 deaths were reported and Yellow fever is one of such. What appears to be from 35 states and the Federal Capital Territory the broad cause of the spike in cases of the disease is (FCT). About 74 per cent of the reported cases were WKH FRXQWU\·V QHZ IRFXV RQ ÀJKWLQJ WKH &29,' predominantly aged 30 years and below. pandemic. That the Yellow fever scourge is returning at a The interruption of period the World Health regular mass vaccination Organisation (WHO) campaigns has contributed has rated Nigeria as mainly to the current country with the highest It is a serious indictment on health authorities in Nigeria that resurgence of the disease. monkeypox death toll of in this day and age, many of our citizens are still dying from On the continent, the FRQÀUPHG FDVHV LQ $IULFD resurgence started in makes it more disturbing. preventable diseases equatorial Africa, followed According to WHO by Cameroon where no Regional Director for fewer than 173 fatalities Africa, Matshidiso Moeti, mostly children under the age of 10 were recorded in T H I S D AY WKHUH DUH QRZ FRQÀUPHG FDVHV DQG GHDWKV IURP EDITOR SHAKA MOMODU 1990. The disease then moved to West Africa and since Monkeypox across 11 African countries. The majority DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA WKLV KDV EHHQ WKH UHJLRQ PRVW DͿHFWHG E\ <HOORZ of cases are in Nigeria, the Democratic Republic of the MANAGING DIRECTOR ENIOLA BELLO fever. To control the spread, there is an urgent need to Congo and Ghana. Of the 12 deaths, six occurred in DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU commence a massive reintroduction of the vaccination Nigeria, four in Ghana, and two in the Central African CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN programmes, especially at childbirth. This should be Republic. MANAGING EDITOR BOLAJI ADEBIYI done through enlightenment campaigns throughout Following the fatalities recorded during the 2017 THE OMBUDSMAN KAYODE KOMOLAFE the 774 local governments of the federation. All outbreak which were in dozens, more than three international travellers into Nigeria should also be million people were vaccinated in an initial emergency advised to undergo vaccination before entering the campaign, with the aim of quickly containing Yellow T H I S D AY N E W S PA P E R S L I M I T E D country. fever. However, the virus continues to spread in EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA An epidemiologist with the NCDC, Adesola Yinkaparts of the country where people remain largely GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, Ogunyele had expressed concerns that the more unprotected. That is why all the relevant stakeholders ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI children are unvaccinated, the more likely there will DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, must join hands with the government this time ANTHONY OGEDENGBE be outbreaks, especially at a time there is a lot of around. DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI demand on the health sector. When it comes to health, Fortunately, Yellow fever is a vaccine-preventable SNR. ASSOCIATE DIRECTOR ERIC OJEH a country is only as strong as its weakest link. It is a disease. A single shot provides immunity for a lifetime. ASSOCIATE DIRECTOR PATRICK EIMIUHI serious indictment on health authorities in Nigeria CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI It is important that all Nigerians get vaccinated and DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO that in this day and age, many of our citizens are still encourage their families, and neighbours to do the TO SEND EMAIL: ﬁrst name.surname@thisdaylive.com dying from preventable diseases. same. An added advantage is that the vaccine is freely

Letters to the Editor Letters in response to speciﬁc publications in THISDAY should be brief (150-300 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 (750- 1000 words). They should be sent to opinion@thisdaylive. com along with photograph, email address and phone numbers of the writer.

LETTERS A MARSHALL PLAN FOR THE NIGER DELTA 2Q WKH ZLQG\ GD\ LQ 2ORLELUL LQ ZKHQ JHRORJLVWV ÀUVW VWUXFN crude oil and they were so happy they played football with the villagers, everybody would have thought that Oloibiri and the Niger Delta region in no time would be a cynosure of all eyes. But little GLG WKH\ NQRZ WKDW WKH VWRU\ ZRXOG EH GLͿHUHQW 7KH KLJK KRSHV and expectations that heralded that day has been dashed! The increasing question asked is what is wrong with the Niger Delta? In understanding this there are many angles ranging from bureaucracy to the PIB bills to lack of regulation in the sector and to too much demands by the government. What are the oil majors claim? The oil majors have always claimed that the reason they have not developed the region is that most of the partnership agreements they signed with the government cedes all the funds for development of the region to the government. SPDC would tell you the same. It has to be understood that the oil majors always operate with a joint venture mechanism with the government. So if the oil majors keep blaming the government for the dearth of infrastructure, then the government should be held accountable because in this joint ventures the government could get as much as 70% in the stake after charges and taxes. So the government must develop a plan which I call the holistic Marshall plan for the Niger Delta.

It is crystal clear that the Niger Delta has been plundered as the ÀVKHUPHQ FDQQRW ÀVK EHFDXVH RI RLO VSLOOV DQG WKH HQYLURQPHQWDO hazards everywhere. The ticking time bomb of insurgency and insurrection holds sway which was indeed ignited by Adaka Boro in the 1960s, and now further propelled by the likes of Asari Dukobo. What the government should do is to develop an ecosystem around the Nigeria Delta that makes it a hub for the oil industry in the world. My Marshall plan would involve three cardinal points: Education: In making the Niger Delta an oil ecosystem the governPHQW VKRXOG ZRUN RQ D V\VWHP WKDW FDQ HͿHFWLYHO\ SURYLGH HGXFDtion in all the subject matter pertaining to the oil industry (currently we do not have any university that deals with Law in the oil and gas sector). Holistic institutions of international repute which can be done with a good endowment. The Petroleum Training Institute was basically for the low-end artisans in the oil industry. We need to have a university with bias for oil in all the Niger Delta states and back them up with training institutes like PTI in every region. Creation of industries and ancillary products: There are many ancillary products in the oil industry that can generate a lot of revenue ranging from petrochemical hubs to rubber industries to UHÀQHULHV 7KH JRYHUQPHQW VKRXOG LQFUHDVH WKH FDSDFLW\ RI UHÀQHULHV E\ KDYLQJ PRUH UHÀQHULHV DW OHDVW WKUHH PRUH UHÀQHULHV ZLWK D

ramped-up capacity. This would help boost the productive capacity in the region and boost trade. Also the marine economy should be revived; boat making and ship making should be enhanced and hitherto moribund ports like Koko in Warri North should be revisited. If the marine industry alone is developed it could provide up to 80,000 jobs every year and put in about $2 billion to the Nigerian economy. Health care: Health care of this region is most important. This would involve constant sensitization of the populace and developing an holistic health insurance for the people living in the region. The health care policy would ensure that everyone in the area is covered and they pay a highly subsidized monthly or yearly premium which in turn would be used to develop health care and through sensitization we could ramp-up the life expectancy in the region. The holistic health care plan would create a mix of a viable social structure and an industrial cutting edge. This would also herald the mosquito eradication program as the Niger delta is prone to mosquitoes due to its tropical rainforest. I Believe with these three holistic ideas the Niger Delta would be a beckon of hope and inspiration to other regions. Rufai Oseni, rufaioseni@gmail.com

MONDAY SEPTEMBER 12, 2022 • T H I S D AY

T H I S D AY • MONDAY, SEPTEMBER 12, 2022

This Week In Tech Tech Top 5 News 08097710984

FG TO CREATE CRYPTO-FRIENDLY FREE ZONE WITH BINANCE he Federal government has announced that it is discussing a possible partnership with Binance and Talent city for the first virtual free zone in West Africa. The unfolding partnership is a landmark development in digital finance, blockchain economy and virtual free zones. In a statement, Nigeria Export Processing Zones Authority (NEPZA) explained that it had preliminary meetings with the crypto exchange and tech infrastructure company Talent City regarding a crypto-friendly economic zone similar to Dubai’s virtual free zone. NEPZA, which helps regulate and operate free zones in the country, stated that the zone would focus on blockchain and the digital economy, making Nigeria a hub for global digital assets and promoting long-term economic growth, NEPZA stated. At the meeting, NEPZA director Sikiru Lawal, Binance Executive Director Nadeem Ladki, and Talent City CEO Luqman Edu discussed the matter. “Our goal is to engender a flourishing virtual free zone to take advantage of a near trillion-dollar virtual economy in blockchains and digital economy,’’ NEPZA’s Managing Director, Adesoji Adesugba, said. “We seek to break new grounds to widen economic opportunities for our citizens in line with the mandate of the Authority, the directive of the Honourable Minister, and the economic development agenda of President Muhammadu Buhari.” The NEPZA noted that Virtual Free Zone would be suitable for crypto businesses to flourish. It will offer tax incentives for crypto businesses and crypto-friendly laws and regulations, like Dubai’s virtual zones.

KIPPA OBTAINS SUPER AGENT BANKING LICENCE FROM CBN Kippa, a financial management and payments platform, has obtained a license from CBN to operate as a super agent. It is a payment solutions services licence which will enable Kippa to have the ability to build its network of merchants, providing them with the infrastructure and tools to offer financial products and services to their customers. Kippa merchants can now accept offline payments from customers and, more importantly, increase customer footfall, customer retention and business revenue by offering financial products and services on Kippa’s infrastructure. In a statement, the CEO of Kippa, Kennedy Ekezie-Joseph, said, “We’ve done an incredible job acquiring and onboarding merchants from all nooks and crannies of Nigeria. We aim to further empower these merchants by providing them with the tools and infrastructure to provide financial services to their customers. This is already yielding results.” Ekezie-Joseph added, “Looking at our counterparty data, merchants activated on KippaPay are in the 90th percentile of Kippa merchants regarding customer retention: so, they have more customers and a higher number of transactions per customer.” He explained that the licence allows the firm to empower all our customers with tools and infrastructure not just to accept payments but to start to offer financial services to their “end-customers.” It also allows the company to integrate with the national switches and “allows us to provide business-to-business and platform and services to other fintechs.” Executive Director of Payment Services, Toyin Albert, said, “We are excited to offer further financial services to our merchants, which align with the CBN’s broader financial inclusion strategy. We are fully aware of the existing regulatory framework and requirements and will continue to drive our initiatives to millions of Nigerians while engaging all stakeholders concerned.”

nosakhare.alekhuogie@thisdaylive.com

Nosa

Alekhuogie

Tech Personality of The Week SOLAPE AKINPELU

his week’s tech personality is Solape Akinpelu, the founder and CEO of Hervest. HerVest is a women-focused and inclusive fintech platform for the underserved and excluded women in Africa. The platform enables women to participate in savings, impact investments and credit, particularly for smallholder women farmers in Nigeria. As a financial feminist, Solape is pro SDG5 and SDG10 and believes in achieving gender equality and reducing inequality through financial literacy, technology, and access to capital. Solape is the Nigeria chapter Country Manager of Women in Tech® Global, an international organisation with a double mission: to close the gender gap and to help women embrace technology. Women in tech global is present in over one hundred countries with growing members of over 70,000. In September 2021, Solape’s led HerVest was chosen from thousands of applicants to present at the world’s number one startup launch competition at TechCrunch Disrupt. Also, HerVest is the only Nigerian startup selected to pitch alongside nineteen other global stars. APPLE LAUNCHES SERIES OF NEW PRODUCTS Apple launched a series of new products last Wednesday, as the US-based technology company aims to attract both high-spending and budget-conscious consumers through its new offerings. The new products, which include the 5G-enabled iPhone 14 series, the Apple Watch 8 Series and new AirPods, were released at its ‘Far Out’ event. The new smartphone models include the iPhone 14, iPhone 14 Plus, iPhone 14 Pro and iPhone 14 Pro Max. The iPhone 14 and iPhone 14 Plus models start from $799 and $899, respectively. The iPhone 14 Pro costs $999, and the iPhone 14 Pro Max starts at $1,099. The iPhone 14 and iPhone Pro will come with a 6.1-inch screen, while iPhone 14 Plus and iPhone 14 Pro Max will have 6.7-inch displays. Powered by the new A16 bionic chip, which Apple claims is the fastest chip ever in a smartphone, the new iPhone 14 Pro includes a new camera system with a 48-megapixel main camera. The iPhone 14 and iPhone 14 Plus will be powered by the A15 bionic introduced with the iPhone 13 series last year. Apple also revealed Apple Watch Series 8, Apple Watch SE and Apple Watch Ultra, which the latest WatchOS9 software will power. Apple Watch Series 8 delivers various health features, including a temperature sensor with advanced features for women’s health and crash detection for severe car crashes. Apple Watch Series 8 starts at $399, and Apple Watch SE at $249. Apple Watch Ultra, which starts at $799 has the best battery life of any Apple Watch, reaching up to 36 hours during normal use, the company claimed. The company

also announced the second generation of AirPods Pro. With the new H2 chip, AirPods Pro promise to enhance audio performance — including upgrades to active noise cancellation. SAMSUNG TO ENHANCE SECURITY SYSTEMS Samsung has confirmed that its security systems were attacked and some data has been stolen, but the company has said it is putting measures in place to prevent a re-occurrence. The breach, which happened in late July, affected mainly Samsung systems in the US, according to the company. While the tech giant said customers’ social security and credit card numbers weren’t affected by the incident, it admitted that other forms of personal data might have been stolen. However, in an email to customers, Samsung said security is a top priority at the company. In late July 2022, an unauthorised third party acquired information from some of Samsung’s US systems. “Around August 4, 2022, we determined through our ongoing investigation that personal information of certain customers was affected. We have taken actions to secure the affected systems, and have engaged a leading outside cybersecurity firm and are coordinating with law enforcement,” said Samsung in a statement. It added, “We want to assure our customers that the issue did not impact Social Security numbers or credit and debit card numbers, but in some cases, may have affected information such as name, contact and demographic information, date of birth, and product registration information. The information affected for each relevant customer may vary. We

trust our customers’ place in our products and services, trust that we have built up over many years.” NBS: TECHNOLOGY CONTRIBUTES MORE THAN OIL TO NIGERIA’S GDP According to the recent Gross Domestic Product (GDP) by the National Bureau of Statistics, the information and communications technology (ICT) sector contributed 18.44 per cent to Nigeria’s GDP in the second quarter of 2022. The sector saw a 6.55 per cent growth rate from Q1 2022. The contribution of the oil sector, which used to dominate the country’s GDP bottom line, fell to 6.33 per cent in Q2 2022, a position lower than its 7.42 per cent in Q2 2021 and 6.63 per cent in Q1 2022. With trade coming in second to ICT and contributing 16.81 per cent to the economy, higher than the 16.6 per cent it recorded in 2021 when the world was recovering from the pandemic and the 16.13 per cent it recorded in Q1 2022, the non-oil sector dominated the economy. According to the report, the non-oil sector contributed 93.67 per cent to the nation’s GDP in the period in review. The figure is said to be higher than 92.58 per cent in Q2 2021 and 93.37 per cent in Q1 2022. The non-oil sector’s contribution grew by 4.77 per cent from the previous rate. The non-oil sector was driven by telcos, trade, financial institutions, transportation, agriculture, and manufacturing (food, beverage and tobacco). The report also showed that economic activities picked up around telecoms and trade services after the COVID-19 pandemic and government regulations on SIM-NIN integration. Altogether, Nigeria saw a GDP growth of 3.54 per cent in Q2 2022, from the 3.11 per cent growth it recorded in Q1.

MONDAY SEPTEMBER 12, 2022 • T H I S D AY

MONDAY SEPTEMBER 12, 2022 •T H I S D AY

MONDAY SEPTEMBER 12, 2022 • T H I S D AY

MONDAY SEPTEMBER 12, 2022 •T H I S D AY

MONDAY SEPTEMBER 12, 2022 • T H I S D AY

T H I S D AY ˾ MONDAY, SEPTEMBER 12, 2022

HOMES&DESIGN

Lagos Continental Hotel Oﬀers Luxury, Life’s Elixir Lagos Continental Hotel is a 22-storey building. At 105 meters, some say it is the tallest hospitality building and the tenth-tallest skyscraper in Nigeria. It is a solid system of luxury and comfort, Bennett Oghifo writes

he 22-storey Lagos Continental Hotel is strategically located along Kofo Abayomi Street in the Central Business District of Victoria Island, Lagos. The exquisite facility is close to Lagos Creek and offers stunning views in every direction of the Gulf of Guinea on the Atlantic Ocean. Lagos Continental is home to the fivestar Intercontinental Hotel that comprises iconic club intercontinental, conference and meeting areas, a business centre, an exclusive boardroom, four restaurants and three bars. Promoters of this huge building said they infused it with 358 rooms which are veritable ways to experience luxury and comfort. There are 37 elegant Suites and a Presidential Suite. All rooms are designed for comfort and relaxation. The iconic Club Lounge is located on the 21st floor with captivating Atlantic views. “The Lounge is an exclusive haven of relaxation and comfort, offering a wide range of complimentary amenities for Lagos Continental club guests. Providing

a perfect setting for breakfast, all-day fresh canapés, afternoon tea and evening cocktails, the club caters to all the guests’ culinary needs,” the promoters said. “With a separate boardroom in the lounge, guests have the convenience to hold short meetings while taking advantage of the lounge’s privacy.” The hotel features six dynamic and innovative outlets, all with superb decor and a relaxing ambience. EKAABO is an all-day dining restaurant offering both local and international cuisine. Live cooking stations and an interactive chef-to-guest serving style place the diner at the heart of the kitchen in a restaurant designed with high ceiling skylights and delicate wall and pillar features, all overlooking a spectacular terrace fountain.

MILANO

Set in an elegant, contemporary and warm environment, guests will enjoy traditional Italian cuisine and a wide selection of wines with

authentic hospitality. The classical environment and Italian chef make it a truly memorable experience. A private dining area will enhance your personal and intimate gathering.

SOHO

This fashionable Chinese restaurant offers Hong Kong-style cuisine, from dim sum and noodles to crispy duck. With an option of private dining for intimate and special moments and an extensive wine and cocktail menu, guests can enjoy an authentic Chinese selection of dishes prepared by a Chinese chef. Soul: dining and entertainment A stylish bar and lounge, Soul comes alive in the evening with a distinctive late-night vibe and creative, delicious bites with a wide selection of exquisite high-end beer and wines by the glass, premium spirits and cocktails.

PS1SP A

poolside

restaurant

that

is relaxing and next to the Ariya terrace offers an exciting combination of cuisine, decor, and service. The PS1SP will offer guests a healthy, quick menu and a juice bar with a wide selection of the best fruits Nigeria has. The lobby cafe offers a selection of grab-and-go breakfasts, light lunches, sandwiches, and decadent pastries while serving the best afternoon tea and coffee in Lagos. There is an outdoor infinity swimming pool on the fifth floor, a health and fitness club with a state-of-the-art gym, steam and sauna rooms, full en-suite treatment rooms and a Moha beauty salon. Its grand African ballroom is designed as the largest pillar-less ballroom in Lagos. There are six smaller meeting rooms, a 24-hour business centre with wireless high-speed internet access in all public areas and rooms for hotel residents; 24-hour room service, laundry, and dry cleaning. Lagos Continental concierge does the meet and assist and transport services.

MONDAY, SEPTEMBER 12, 2022 ˾ T H I S D AY

BUSINESSSPECIAL

Editor: Obinna Chima obinna.chima@thisdaylive.com 08024557078

Awosika: Nigeria’s Power Sector Challenge Creates Huge Market Opportunities

Ibukun Awosika is the board chairman of d.light, one of the leading innovators in the distribution of solar energy. Awosika is an African entrepreneur, author, international leader and global culture shaper. She is also the Chairman and Founder of The Chair Centre Group, a leading furniture and security systems provider in Nigeria. She serves as Chairman or Board member on various Corporate and non-proﬁt boards around the world, cutting across Education (IESE Business School, Imperial Gate Schools, Pan Atlantic University), IT (Digital Jewels Limited), Manufacturing (Cadbury Nigeria Plc), Retail (House of Tara International), Financial Services (Alitheia IDF Fund LP, Nigeria Advisory Board for Impact Investing), Corporate Governance (Convention on Business Integrity), Advocacy (Women in Management, Business and Public Service, IFVI International Foundation for Valuing Impacts), among others. In this interview, she spoke about expectations from d.light, which would be oﬃcially launched in Nigeria tomorrow. Obinna Chima brings the excerpts: Can you speak to us about d.light and what the company seeks to achieve in Nigeria? .light is a global company involved in transformation of lives. That is the vision of the company - to invest its resources, its talents and its entire capital into developing solutions that would enhance the lives of people, especially people at the lower end of the pyramid. It was founded by two young men who met at Stanford Business School. One is a Canadian and the other an American. Both of them realised that they had passion and commitment to see how they could change lives. Fast forward, it’s been a long story of building and finding solutions that would change lives of people.

What other policies would you like to see from government to increase the shift to renewable energy there is a huge gap in that sub-sector? You know when you talk about solar, there are different levels in terms of how they work. There are those who produce commercial solar that can then be distributed; so that means you have a lot of panels and all that. Now, what we do at d.light are individual solutions. We are not waiting for someone to create a solar grid in the communities, we are creating a solution that you can buy for your entire village one by one. So that makes it easier to reach the last man. We are not waiting for the big project; our products are personal. You can buy – like is said, I bought solar TV, as long as there is network or service, you can buy a solar TV or fan and take to your village and give to your parents and the sun is free and available.

Now, solar is just one of the resources they use to try to solve problems. Why solar? The reason being that in a lot of areas or in the lives of many people, energy resource is a challenge. It’s a scarce item. Let’s take our country for instance: we have power issues; how do we survive? Huge investments in generators. Well, we have the “I- better-pass- my-neighbour- generators” which is small, but at the end of the day, you still need to fuel it! If you’re using diesel, you have an idea of the cost of diesel; if you’re using kerosene, you know that half the time, kerosene is scarce and is expensive, apart from the fact that it is environmentally unfriendly – actually, none of them are environmental-friendly. So as a company, part of what d.light does is to create solutions that are sustainable and earth-friendly, but also enhance the lives of the people. Now, one other leg of what we do at d.light is to make the solutions that are provided affordable for the people at that level. So, it’s not even just that you’ve invested in producing the solutions, it is that you then find how people can afford it. Hence our pay-as-you-go system; so there is a financial aspect of the business where the people who are then users or buyers of the resource get to pay a little at a time in the way they can afford over a period of time until the items are fully paid for and they can graduate from one item to the other. Two of the most developed markets for d.light products are East Africa and India. I became the global Chair of d.light in October 2019, by then, the company had existed for so many years and the investors in the vision of d.light are global, from Shell Energy; to Norfund, which is known as Norway’s National Fund; Proparco, which is a French government investment company; to private entity funds of different types. So, it is a company that has sustainability in its growth and its vision. As at last year 2021, we hit the 125 million impacts number weighing against the way companies impact lives are calculated globally. Now, one great part of the d.light model which when I became chair in 2019, became very attractive to me is its job creation model. If you go into most of the East African countries - Kenya, Uganda, Tanzania etc you would see the extensive job creation impact of d.light. First, you have the agents who are dealers for the products. Then you have loads of people involved in maintenance and repairs, which means you are an independent business running a store that has possibility of service and d.light empowers you, trains you, keeps you and certifies you as a maintenance partner for the product and all of that. Then you have a massive sales team selling the products, those that sell on commission, branded stores owned by agents and dealers. So, there is a whole pipeline. The value chain is rich and we have already built some of the structure in Nigeria. So, the attraction to Nigeria now is because of the size of its market? The market is big but there are many other things that are unattractive about the way our

Awosika market operates as well. Our power challenge is a market opportunity for a company like d.light. That is because obviously it means that you have enough people who have the need for part of the product that you supply. Interestingly, one of the major products that d.light sells are smartphones. The d.light branded smartphones are part of our future products. We have partnerships across many of the major branded phones – Samsung and Nokia in particular. But the phones are configured in a way that we use it as a transformation product to solve problems for the people at that level of the market. How do you think government can incentivise operators like d.light and others in the renewable energy space? I think they are already doing some of it in some ways to be fair to government. Until recently, the kind of duty requirements on solar-based products and all of alternative solution items was not commercially viable at all and we didn’t have the right approach. But they’ve started making adjustments. They’ve reduced the position on that. There are also quite a few initiatives from the World Bank and all of that. There are some clear initiatives from the global perspective to help countries like Nigeria in order to reach people at the bottom of the pyramid for alternative energy and for sustainability. So, some of the things this government is doing in that space and some of the global rules created some level of mitigation that help to make it a lot easier.

So your target is the rural communities? Our target is lower income individuals. There is sun in the village and the cities, so when we just say a rural market, it is not. The guy who lives in Lagos, but doesn’t have a generator shouldn’t even use a generator if he can have a solar solution. Why? Because of environmental sustainability. So, when you think about all the ESG matters, you will encourage more people to use alternate sources of energy rather than polluting sources of energy and that helps everywhere; whether you are in the city or in the village. It is about lower income. What we’ve done is to think of the entire problem chain. Firstly, innovate the product. Two, how do you deliver it? Deliver it to them at the most reasonable price. Thirdly, make sure it’s affordable for them. How is it affordable? It is pay-asyou-go. They don’t have to look for the capital to buy. They look for signing-up, proving they have the ability to be able to pay every week – they have different system: every week, every month, every day - are different options that are available and as you increase your credibility ratio in terms of your performance, you then have opportunity to get into more. Do you see this solution taking away the ‘I pass my neighbour’ generators? Yes, it replaces it. But you know that’s for energy. But as you provide the energy for them, you are also then providing them with products that they don’t even need that energy and power. In the next ﬁve years, what do you

envisage the market share for d.light would be and what’s is your strategy to make more Nigerians accept your products? Our goal would be to be the leading brand in the market because we know exactly what we are doing. We are good at what we do and the company has established processes, plants and value chain, we can do the same in Nigeria. When you think in terms of reliable solar product that is dependable anywhere in the world, you look up to d.light. We are a company with integrity and character. And everything that we do, we can be held accountable. I have given you an idea of who all our shareholders are and as a company, we are responsible. If you look at the energy sector, having studied that market as the chairman of d.light, where are we in that journey towards full adoption of renewable energy? The reality is that we are still so far from where we need to be in terms of our population and our needs. And no matter how much our government positions that this is what they’d like to do, private sector would have to drive in by getting involved in that sector. First providing the service, providing the product and its value. There are a lot of small businesses everywhere that are providing different solutions. Many houses right now are trying to have solar as a solution. There is a demand for renewable energy and we also know that some of the problems that are hindering us right now, they won’t be there forever. Business is driven by opportunities that exist created by gaps. The bottom line is that Nigeria does not have enough power generated as at now. And even if we have it, we do not have extensive distribution network to take power to the last man. You’ve talked about Kenya, Uganda, and some other Eastern countries; beyond Nigeria, are you in other West African countries? We have what we call partners in some of the other countries who are responsible for selling our products under different arrangements. So, we go into some countries directly; in some countries we go in as partnerships. We allow existing companies within the country who have the capacity to distribute and run the financial bother to sell our products in the partnership. So that’s a major part of our business. There is a massive job value chain created for the sale workforce that sells across different communities across the country. And then, there’s partnerships for maintenance and repair and all of that, and so there is knowledge that is created in training people. And we are long-term players, we are not short-term players. Like I said, we are an impact company, so for us our measures are not purely commercial. We must be commercially viable and sustainable and return value to all our investments; but beyond that is that we have a responsibility and our track record shows that of measuring the value we create in the lives of all the communities that we work with. Which is why if you look at all our shareholders, there are not companies that are driven just by money. What fuels your passion, especially as Chairman of d.light? In the past five years of my life, I made a decision that a lot of the boards I will serve on fall into what I call my developmental board season. So, I’m deliberate about choosing the organisations I work with. I was chairman of GEMS Africa. GEMS Africa is owned by GEMS Dubai and CDC. Why did I accept to do that? Education. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ MONDAY, SEPTEMBER 12, 2022

BUSINESS SPECIAL

ANALYSIS

FMBN: Deepening Housing Aﬀordability, Inclusion Nathaniel Ajene

Additionally, the Bank commissioned the bills of quantities for the building designs to ensure that costs were kept within range. From the choice of tiles and interior finishing to roofing sheets, the Bank emphasized using quality but cost-effective materials that would provide the needed comfort while leaving room at a reasonable cost and allowing beneficiaries to undertake any additional improvements at their convenience.

safe, decent, and affordable home is fundamental to a family forging a path out of poverty. All over the world, affordable shelter leads to better opportunities for children and their parents. A home helps families find better health, financial freedom, independence, stability, and security that otherwise would have remained an illusion. This is why the United Nations made providing people with access to decent and affordable housing one of the targets under Sustainable Development Goal 11. One of the notable challenges for achieving housing for all is housing affordability. It broadly means the ability of a household to own a home, paying no more than 30% of the household’s income for gross housing costs. Housing affordability comprises household income, house price, and finance terms. The confluence of low household incomes, high mortgage interest rates, and short tenors results in very low housing affordability for most Nigerians. In rare circumstances are, the cheapest newly built houses by private sector developers accessible to the majority of the population. As a leading government housing institution, the Federal Mortgage Bank of Nigeria (FMBN) has recently taken innovative steps to tackle housing affordability and boost inclusion for all segments of the Nigerian population.

ENSURING ACCESS TO AFFORDABLE HOUSING FOR ALL

A COMMITMENT TO HOUSING AFFORDABILITY On the side of affordability, the Bank’s offers are a fine blend of low-down payment requirements, affordable pricing, long tenors, single-digit interest rates, and innovative homeownership options. Let’s start with down payment, the amount required at the outset of a mortgage transaction. In a market where mortgage lenders require 30 to 50 percent equity for home loans, FMBN pegs upfront payment for its loans at a maximum of 10 percent. FMBN’s home loans N5million and below attract zero down payment. Only those above N5 million to a maximum of N15 million require a flat 10 per cent equity contribution. By removing the need for equity for loans below N5 million and drastically reviewing downwards the amount of money people need to save up and pay upfront for houses ranging from N5 million to N15 million, FMBN has lowered the bar of access to affordable housing for the majority of the Nigerian working population. As contributors to the National Housing Fund (NHF) Scheme, an essential requirement for accessing FMBN housing loans, Nigerians can get a N5 million loan without any upfront payments or a N15million loan to own a home by simply putting down N1.5 million. That is remarkable. Other FMBN loan terms and conditions are equally designed to enhance housing affordability for low to medium earners. For example, loans can be spread and paid conveniently in monthly or quarterly installments over tenors of up to 30 years. This, however, depends on the beneficiary’s age and the number of remaining years in service. The Bank’s interest rates are minimal, falling within the single-digit range of six to seven per cent per annum. This is significant considering that commercial mortgage rates range from 20 to 30 per cent and until recently, loan tenors were capped at ten years. Another equally important component of FMBN’s housing affordability strategy is its ability to innovate its products to meet the reality of the Nigerian worker’s financial situation. While inflation has steadily risen and the cost of living has skyrocketed, the incomes of civil servants who form the bulk of contributors to the National Housing Fund (NHF) Scheme have not recorded a proportionate increase. The result is that for most Nigerians, their earnings are not enough to cover the cost-of-living expenses till the next payday; talk less of setting a portion aside for a down payment. Indeed, it is a hand-to-mouth situation for even those within the senior ranks. Statistics show that in many cases, eligible civil servants, and contributors to the NHF Scheme who got

Madu

the FMBN housing loans requiring even the 10 percent revised down payment, found it an arduous task paying it up after successful profiling. To fix this, FMBN introduced a rentto-own scheme. The scheme eliminates the need for equity requirements from loan applicants. Beneficiaries, who must be registered contributors to the NHF Scheme and contribute 2.5 per cent of their monthly income for a minimum of six months, are allowed to move into FMBN-funded housing property as tenants. They can conveniently pay the house price in monthly, quarterly, or annual installments over 30 years at a single-digit interest rate of seven per cent. When they complete payment, they take full ownership of the property. House price is also a key determinant of affordability. FMBN has also demonstrated an astute understanding of the need to build homes that fall within the price tags that its target beneficiaries can afford. The Bank pays adequate attention to matching housing types to income profiles of potential off-takers, the suitability and viability of project sites, proximity to access roads, livability, and other related amenities that will ensure completed houses are quickly occupied. Investigations show

“As a leading government housing institution, the Federal Mortgage Bank of Nigeria (FMBN) has recently taken innovative steps to tackle housing affordability and boost inclusion for all segments of the Nigerian population.”

that FMBN-funded house types include apartments comprising one, two, and three bedrooms, one, two, and three semi and detached bungalows. Price tags range is as low as N3.2 million for a one-bedroom, N5.5 million for a semi-detached 2-bedroom bungalow, and to N7.5million for a 3-bedroom detached house. A recent FMBN housing project that best typifies commitment to affordable housing pricing is the National Affordable Housing Delivery Project (NAHDEP). The project is a collaboration with the Nigeria Labor Congress, Trade Union Congress (TUC), and Nigeria Employers’ Consultative Association (NECA) to meet the housing needs of workers. The three bodies are the leading unions of workers whose 2.5 percent monthly contributions to the NHF Scheme essentially power FMBN’s operations. The first phase of the scheme delivered over 1,400 housing units in twelve (12) sites across the country’s six geopolitical zones in addition to Lagos and Abuja, in batches of a minimum of 200 units per zone. The second phase is at different levels of completion and will deliver about 2,160 houses in another fourteen (14) locations. House types include finished semi-detached bungalows and 1-, 2- and 3-bedrooms in blocks of flats. To keep the prices within the N3 million, N5 million to N8.5 million range for one, two, and three bedrooms, respectively, FMBN took deliberate actions to shave off major cost elements that increase a building’s price tag. First was the cost of land. In collaboration with the labor centers, the Bank engaged state governments as stakeholders, who agreed to provide a minimum of 10 hectares of land for siting the projects as part of their contributions to affordable housing for their citizens. Some state governors even opted to provide access roads, power supply, and associated infrastructure. The state governments contributed significantly towards keeping the building’s cost within range.

FMBN has also introduced two new and innovative housing products that widen the net of people who can benefit from its services. This includes Nigerians living in Diaspora and those whose religious beliefs do not permit them to engage in interest-bearing transactions. Consider the Diaspora Mortgage Loan, which the Bank partnered with the Nigerians in Diaspora Commission (NIDCOM) to float. The loan provides economically active Nigerians in the Diaspora the opportunity to register, participate in the National Housing Fund (NHF) Scheme, and access affordable mortgage loans of up to N50 million to own a home in Nigeria. The Bank designed the product targeting Nigerians living in the Diaspora above 18 with evidence of the regular flow of income. Applicants are expected to contribute $150 (for beneficiaries earning $3,000 and below monthly) or $200 (for beneficiaries earning $3,001 and above monthly) respectively, for a minimum period of one year, after which they can apply for the mortgage loan through an accredited Primary Mortgage Bank. Key terms include a 30 per cent down payment, a single-digit interest rate of nine per cent, and a payback period of up to 10 years. The product creates a unique opportunity for Diaspora citizens to have a legal home in Nigeria that could generate income for them while preventing them from falling easy prey to relatives and friends in Nigeria. The Bank has also flagged off an alternative mortgage financing window for Nigerians opposed to interest-bearing transactions. Its introduction of a noninterest rent-to-own scheme would enable Nigerians to own their homes using a mortgage without engaging in an interestbearing transaction. FMBN developed the product to eliminate the challenges that eligible Nigerians who want to own their homes through the National Housing Fund (NHF) Scheme face because of the interest-based nature of the Bank’s existing housing products. The product uses a rentto-own model that allows beneficiaries to move into FMBN and non-FMBN funded homes and conveniently pay towards full ownership using monthly/quarterly, or annual rentals. The product’s financing structure is based on the non-interest financing contract of Ijarah Muntahia Bitamleek (Lease to Own). Under this arrangement, FMBN retains ownership of the property until the financing term ends or at any time during the lease period that the beneficiary wishes to purchase the property. The FMBN non-interest rent-to-own product is available to Nigerians who must be contributors to the National Housing Fund (NHF) Scheme. It covers both FMBN and non-FMBN funded properties with a maximum price of N15million. Beneficiaries have the options to pay to own the property in monthly/ quarterly or annual rental installments over thirty (30) years depending on their age and years in service. By prioritising affordability, expanding participation in the National Housing Fund (NHF) Scheme, and accessing affordable housing for Nigerians living in the Diaspora while providing alternative mortgage financing to those unable to leverage its housing products, FMBN is demonstrating a commendable skill. Such an approach is crucial to business resilience, achieving its mandate, and contributing its quota towards the government’s goal to meet the housing challenge. t "KFOF JT B IPVTJOH QPMJDZ BOBMZTU CBTFE JO -BHPT

MONDAY, SEPTEMBER 12, 2022 ˾ T H I S D AY

BUSINESS SPECIAL

INTERVIEW

Nwabunka: Small Businesses are Key to Driving the Economy The Chief Executive Oﬃcer and Founder of one of Nigeria’s leading NGO microﬁnance institutions, Grooming Centre, Dr. Godwin Nwabunka, spoke with Nduka Nwosu on the growth of the industry and how it is adapting to national and global demands. Excerpts: What is the over-arching philosophy behind Grooming Centre? rooming Centre is anchored on a philosophy of service, not wealth acquisition or primitive capitalism as they call it. The Centre is committed to providing solutions, empowering people, growing people and showing that above all, that a national institution can do good and pursue best practices. In a sense we are set out to show that good things can happen in Nigeria, and you do not need anybody to look over your shoulders to do the right thing A lot of times when stakeholders come to see what we are doing, they are surprised and would ask: where did you get this idea from? Having travelled all over the world, being opportune to go from the North to the East and from the East to the West; Europe, America, Asia, virtually round the world in the course of duty, my team and I have seen beautiful things and outstanding initiatives. So, we brought these ideas back home, to replicate these things with some local adaptation as it would suit our environment, and people think it is a strange thing that Nigerians can be doing something good like it happens elsewhere. What you have here is a very proud Nigerian institution, a very proud Nigeria initiative. That is what we are striving to achieve in all our endeavours, to raise the flag of Nigeria high. To engender best practice, we continuously evaluate our operations and impact from within and outside. We have done seven global ratings. We have emerged gradually from a beta-rated to an alpha rated institution. We are a global tier one institution in terms of our ratings. We were also the first institution in Sub-Saharan Africa to obtain the Client Protection Principles certification from the SMART Campaign. We became the first institution to be revalidated on the same certification two (years) ago. We have now done two validations; we just had our second validation as a gold rated client-centric institution. This is the verdict of MicroRate, a specialist global microfinance rating agency. We have done over 12 million credits and now we have over 700,000 clients, mostly women. The bottom of the pyramid is huge. Nigeria’s population is close to 200 million and most of them are at the bottom of the pyramid, including young people. We started as a one branch operation at Ejigbo, but we have grown and scaled over the years. The 30 women we recently celebrated are just a few of our members that are doing wonderful things, amazing things. Most of the time when you talk about women who are making changes or those who are making impact, you look at the top guys around Ikoyi and Victoria Island, in Abuja and the highbrow places in the country. No, we are talking about women who are basically starting life from nothing, doing the little things and then turn it into amazing things. They empower themselves; they economically grow their businesses. They empower their families; their children can go to school; they build houses and begin to impact even communities very positively; they become more confident and dignified.

Is micro credit enough to empower these traders and artisans? Microcredit is just an entry point of financial and economic empowerment. Beyond that, by giving this individual access to credit, you build hope and confidence. Her business grows, contributing to income growth at household level. It is really in the attendant effects. We asked a vital question on why a child who should be in school is hawking? The answer is rooted in poverty. If you want to deal with poverty, you must improve the livelihood of the family at the income and credit levels. You provide them the money to do business, which in turn empowers them to do other things. By increasing income levels, there’s a greater likelihood that their children can keep going to school, taking them off the road and giving them and a promising future. If you help her and she is now able to contribute to the health of the family, what does that do? It reduces child and infant mortality. Her home is much better, sanitation improves, healthcare improves, everything improves, just by providing that access to credit. There is a whole network of benefits you can trigger by giving credits especially to women. In addition, we also provide non-financial services bundled with access to credit. Business advisory, sensitization to improve health seeking behaviour, nutrition and prevention of communicable diseases, for example. What is unique about Grooming Centre in terms of vision, strategy, and luck? Again, you cannot isolate any one thing. However, real passion and desire to drive impact is especially important. Knowing what you want to do in terms of strategy and capacity, knowing what works and what does not work are very important; the team and the methodology you put in place are important. Then good fortune, timing and the grace of God, of course,

Nwabunka completes the act. Then everything comes much better together than you had envisaged. We did that very well while I was at the UN where I was the focal point for managing a programme called MicroStart and micro-credit activities. That gave me the opportunity to travel very broadly across the continent, Asia, and Latin America, seeing what the best practices were. Based on these, we were able to learn what works and what does not work. What we did was to align ourselves with those who have done it well. We don’t need to reinvent the wheel. We learned, we made friends, we networked, and we brought them in to help us kick start the business. When we went to work, they helped us to build along the way, some even providing funding, which is important to grow the business. At the time your partners came in, was it with a different notion of what the Centre was all about? We had a common understanding with regards to bringing about change by working to fight poverty, by empowering the ordinary hard-working person down the street. At the beginning, we received a lot of technical assistance from the Association for Social Advancement (ASA), which is also a non-for-profit organisation. Locally, we also received a lot of early assistance from Dr. Godwin Ehigiamusoe and LAPO, the largest microfinance bank in Nigeria. Since then, we have worked with different microfinance investment vehicles, bilateral and multilateral organisations, including the World Bank Group, where we were engaged as one of 16 initial partners in the Universal Financial Access Framework in 2016. So up to a point you drew some inspiration from these guys? Oh yes, very much, particularly from ASA. Are your business activities stretched to the North? Yes, however, it is for now confined to some states and zones because of issues of insecurity. We are not in the Northeast operationally, but we support other NGOs such as Sesor Empowerment Foundation on an annual basis and recently, the UNHCR to provide humanitarian support in the region.We are in Kano, Kaduna, Plateau, Nasarawa, Niger; our outreach currently spreads to 26 states and the FCT. Can it be said the Centre is heavy on Corporate Social Responsibility (CSR)? Yes. We operate a triple bottom line – social,

environmental and financial sustainability. Part of our social and environmental commitments mean giving back to the communities we operate in and employ people from. We have diverse programmes – the Lady Kate Okafor Scholarship, which provides scholarships for 1000 children of our members at senior secondary school level annually. We also have the University Grant Scheme, providing 150 grants a year to support research in enterprise and community development at undergraduate and postgraduate level. One of our programmes that is dear to my heart is the Grooming Talent Hunt, which we started in 2019 to provide a platform for young people in Ejigbo, where our Head Office is located. It has now grown to a massive production, with over 500 applicants from across the country annually showing their skills and talents in diverse areas. There is so much talent in this country, and we all just have to find ways of providing opportunities for the next generation to excel. We also do a lot of work with partners in health sensitisation, as I earlier mentioned – improving health seeking behaviour, nutrition and lifestyle enhancement, prevention of diseases – especially Lassa fever and more recently, CoVID-19. Apart from our contributions to CACOVID and the Lagos State government, we focused on providing information, face masks and sanitizers to those at the bottom of the pyramid, especially as they still needed to work and trade right after the lockdown in 2020. We’ve done so many other interventions over the years – building the Apakiimo Centre for Senior Citizens in Oke-Ila, Osun State to provide physiotherapy and psychosocial support, building classroom blocks and providing tuition for students in Abolarin College, Osun State, and providing support for facilities like e-libraries and science laboratories to schools like St. Francis Idimu, St. Peter’s Amizi, and so many others – local sports tourneys, community outreaches, medical drives etc. Our focus is still oriented to the bottom of the pyramid. For social impact to be effective, you also need a sustainable financial arrangement that brings in the funds. Why is the inability of beneﬁciaries to respond to loans payment very insigniﬁcant at the Centre? Women make up 99 per cent of the beneficiaries of our credit facilities - and they are more reliable with repayments, as our experience and global studies have shown. They borrow and invest the facility in their businesses. They are very sincere and prudent investors. The surpluses or profits from their investments will go to caring for their families or their children and all kinds of positive endeavours. It is a known global fact that women are good credit managers and investors. Our women constitute a major segment of our clients; that is why our recovery rate has continued to be above 90 per cent. We also employ a very client-centric approach to our service design and delivery. Feedback from the members is very important to us – we continuously engage them through focus group discussions, assemblies, and with outward calls from our 24 hr toll free line. The information we receive from them is very valuable for meeting their needs and preferences, which in turn ensures they use our services for things that generate value for them. Why do you place so much emphasis on teamwork at Grooming Centre? Life is a learning curve; every stage of life is about learning with leadership and work experience as part of the process. I am a strong believer in teamwork, in clear definition of roles,

so that every member of the team knows what is expected of that person. I have always been driven by that kind of team cooperation, looking beyond your own role but trying to see what you can do to enhance the outcome of the overall team. That has been the way I would describe my philosophy of working in teams. Grooming Centre drives the same process by clearly defining the outcomes you want, assigning roles properly, ensuring that the capacity building, structure and resources that you need to achieve those processes are given; then in terms of recognition and motivation, make sure that it is the best that get motivated. How do you deﬁne the Grooming Centre open door policy? As a leader, I have created an open-door environment so that people can come in and talk to me. By doing that, coupled with our HR policies and mechanisms, we try to foster an open and transparent working environment. You can even see our offices are open plan, and have glass partitioning, if need be, again to reinforce transparency and openness. I do not close my doors, and nobody closes his or her doors processes for conflict resolution are there. If we get stuck at one point, you go to the other point. If one person is not responding you do not get stuck, you go to the other point. By building these systems, you find out that things will grow with minimum constraints. Another mechanism that is very important to us is the succession planning, at governance, management and all levels of staffing. You must be futuristic in terms of your leadership approach and make sure you are thinking about what the enterprise will be, say in the next five years, in the next 10 years or in the next 20 years. We are already building a Grooming Centre compliant with the challenges of the future, the challenges of tomorrow. Can you further explain what you call the bottom of the pyramid theory and how it ﬁts into the Grooming Centre and its activities? Like I said, that is where the future lies, it has a whole lot of power and the inability of policy makers to recognise this leads to failure in many ways. This is because the bottom of the pyramid is where things happen. Regardless, a good policy environment will promote it and expand and multiply its positive impacts. But again, regardless of the situation, the bottom of the pyramid survives because it is dealing with the most basic and fundamental needs of life. No matter what happens you must eat, right? And if the supermarkets are closed, you will go to the nearest market and buy something. If the market is closed, you will go to your next-door neighbour’s shop to purchase your needs. Who takes care of those needs? Those at the bottom of the pyramid activities do. That Mama Iyabo, that Mama Chidi who are next door neighbours or having a shed or kiosk down the road selling rice and beans in modules, and cups, are essential workers or traders who ensure people must eat food, right? Most of us cannot do without them. When people are sick, you must buy Panadol. It is either you are buying from the big pharmacy, or you are buying it from that chemist next door. Even if you are not buying, you are buying it from that guy, that nurse, who is selling it from their homes. If you drive a car, and your tyres go down, you will need a vulcaniser. You will need to drink water no matter what. If there is no water, that mai ruwa that is a water vendor will deliver it to you with his wheelbarrow. You are dealing with the most fundamental issues that keep life going. Now, good inclusive policy can enhance all of this. Trade is such an essential activity that even when people are displaced and find themselves in a refugee camp, buying and selling go on because people must meet basic needs to survive. Small businesses are the key to driving the economy; while the big businesses are growing, it is the small ones that are supporting them with basic inputs. In such industrialised economies as China, specialisation is a given. A family unit can specialise in the manufacture of nuts while another is known for bolts. It goes on and on like that and collectively they constitute the bottom of the pyramid that feeds the big corporations or manufacturers with their basic products. And in areas where there is specialisation, one environment is known to produce screws for example or the making of a particular item that goes into the production of the total product such as a car or an aircraft. They make the spokes and supply to the bigger manufacturer that in turn supplies to the big assembly plant, all of which constitute the value chain in the production process. The national banks don’t just come within the confine of microfinance. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

MONDAY SEPTEMBER 12, 2022 •T H I S D AY

MONDAY SEPTEMBER 12, 2022 • T H I S D AY

T H I S D AY ˾ ˜ SEPTEMBER 12, 2022

BUSINESS/MONEYGUIDE

NEPC Partners NOA to Boost Non-Oil Export Drive James Emejo ÓØ ÌßÔË The Nigerian Export Promotion Council (NEPC) has established a partnership with National Orientation Agency (NOA) to further create awareness for the former’s Export4Survival campaign across the 36 States of the federation. The move is part of the council’s strategic collaboration to promote the export of Made-in-Nigerian products and thereby increase foreign exchange earnings for the country. The Executive Director/ Chief Executive, NEPC, Dr. Ezra Yakusak, who led a team of the management to the NOA, said the partnership was necessitated by the need to seek strategic collaboration with relevant government Ministries Departments and Agencies

(MDAs) in a bid to rejuvenate the nation’s fragile economy in the wake of dwindling revenue from crude oil. He pointed out that the Export4Survival initiative represented a patriotic call on all Nigerians to realise the urgency of engaging in non-oil export trade as a viable means of economic growth, poverty alleviation, industrial development and boosting our foreign exchange earnings. In a statement by Head, Corporate Communications, NEPC, Mr. Ndubueze Okeke, Yakusak said, “We must export our goods and services or perish. That is the only way the country could create jobs, create wealth and ensure a sustainable economy that guarantees prosperity for all Nigerians.” In his response, however,

the Director-General of NOA, Dr. Garba Abari, commended the council for initiating the Export4Survival campaign as part of a strategic initiative to increase the awareness of opportunities in the sector and benefits of exporting Nigerian goods and services to the overall growth of the country’s Gross Domestic Product (GDP). He said with 813 offices spread across the country, the NOA was strategically positioned to help the council drive the campaign to the 36 states of the federation as well as the 774 local government areas. Abari said, “Export4Survival is indeed strategic in finding a solution to the nation’s fragile economy. It is the only way to regain the value of the Naira as it will create wealth and job opportunities for all Nigerians.”

L-R: Corporate Affairs Director, Nigerian Breweries, Sade Morgan; ManagingDirector/CEO, Hans Essaadi; Chairman, Ikoyi Club 1938, Ademola Lawal Mumuney; Trustee, Ikoyi Club 1938, Yanju Scott, and Chairman,Nigerian Breweries Plc, Chief Kolawole Jamodu, during the launch of two uniquebespoke bars at the Ikoyi Club 1938’s main house and golf section by Heinekenin Lagos…recently

DBN to Empowers MSMEs with Free Entrepreneurship Training Nume Ekeghe Development Bank of Nigeria (DBN) Plc has announced that it is set to empower thousands of Nigerian Micro, Small and Medium Businesses (MSMEs) with free entrepreneurship program. DBN in a statement said free entrepreneurship training is part of the its efforts toward achieving its core mandate of building the capacity of small businesses to enable them to formalize and upscale. This, it stated, will essentially address the challenges some of them face in accessing funding for their businesses. The bank said the training will be held on the DBN Learning Management System (LMS), a free learning portal with

carefully curated self-paced courses that are open to all Nigerian MSMEs who are interested in acquiring the right knowledge needed to succeed in business. Speaking on the free DBN learning program for MSMEs, DBN Managing Director, Anthony Okpanachi said: “As part of our plans to strengthen our catalytic role in the Nigerian economy, we are expanding our reach to MSMEs and inviting interested Micro, Small and Medium Scale Enterprises to take advantage of our free Entrepreneurship Training Program to upscale their skills. Consequently, DBN is investing a lot of resources in driving skill acquisition across the different aspects of managing and sustaining

a successful business across sectors.’’ “I am confident that, MSMEs who take advantage of this opportunity will gain critical business skills that will pave the way for higher earnings, capacity, increased innovation, self-reliance, and most importantly, improve their ability to access funding for their businesses. “By the end of the online training session on 23rd September, 200 businesses would be selected for a physical session taking place from October 17 to 21, 2022 in Lagos and Abuja. It will provide an opportunity for businesses to practically learn and apply important principles from online training to their various businesses, “he added.

Heineken Deepens Partnership with Ikoyi Club Heineken reinforced its status as one of Nigeria’s foremost brands in bringing people together as it launched two unique bespoke bars at the Ikoyi Club 1938’s main house and golf section. The Heineken bars combine many of the attributes of the exclusive and beautiful terrace that has come to be associated with Nigeria’s longest-standing membership-only club; applying them to ensure all members are treated to elevated moments of camaraderie. Commenting on the launch, Managing Director/CEO, Nigerian Breweries Plc, Hans Essaadi said: “Today is a proud moment for our company, as it sees the most prestigious beer brand, Heineken, strengthen its partnership with Nigeria’s most

prestigious member’s club. “Our partnership with the Ikoyi Club 1938 dates back a long time. Predecessors of mine and countless number of people have come through the doors of the club, hence, we are excited about the opportunity to connect with thousands of Nigerians – who can now experience the welcoming, global nature of the brand as they go about their activities of choice. We look forward to a continued partnership built on the scaled success of both institutions.” Heineken’s choice of a premium partnership with the Ikoyi Club reiterates its world-class quality and taste for excellence. For the Club, the landmark event signals

a renewed commitment to offering members best-in-class social experiences. Speaking on the partnership, the Chairman, Ikoyi Club 1938, Ademola Lawal Mumuney, affirmed that, “Ikoyi Club 1938 is happy with the sustained commitment of Nigerian Breweries and particularly, Heineken to elevating experiences for members of the club. This partnership dates back to the earliest iterations of the Nigeria Golf Cup, so it is only fitting that today, we officially open the Heineken bar at the golf section of the club. This, coupled with the Heineken bars at the Main House all but assure a heightened experience for our members.”

Traders Association Commends EEDC for Improved Services In recognition of the remarkable improvement in power supply within the South-East Geo-political zone, traders under the aegis of South-East Amalgamated Market Traders Association (SEAMATA) have commended the management of the Enugu Electricity Distribution Company PLC (EEDC), passing a vote of confidence on the company. The commendation was conveyed in a letter addressed to the Chairman, Board of Directors, EEDC, Emeka Offor, co-signed on behalf of SEAMATA, by its

President General, Chief Gozie Akudolu and Secretary General, Alex Okwudili. The Association appreciated the very challenging business environment in which EEDC has been operating in and expressed delight that despite this, the company has consistently improved on the quality of service to its customers. “We observed that your company is not only faced with the challenges of poor payment of electricity bills, increasing rate of vandalism by unscrupulous elements, frequent collapse of the

national grid, natural disasters that affect your facilities; but in spite of all these, you were still able to tremendously improve in the supply of electricity to all the nooks and crannies of urban and rural areas across the South-East” While acknowledging that there is always room for improvement, the Association appealed to the company to not just maintain the attained feat but to surpass it order to turn out as the best and most efficient electricity distribution company in the country.

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JUNE 2022 Money Supply (M3)

48,865,823.53

-- CBN Bills Held by Money Holding Sectors

167,956.2

Money Supply (M2)

48,797,867.32

-- Quasi Money

28,405,330.1

-- Narrow Money (M1)

20,392,537.22

---- Currency Outside Banks

2,722,785.91

---- Demand Deposits

17,669,751.32

Net Foreign Assets (NFA)

6,242,394.29

Net Domestic Assets(NDA)

42,623,429.24

-- Net Domestic Credit (NDC)

57,267,178.05

---- Credit to Government (Net)

17,996,690.06

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

39,270,488

--Other Assets Net

5,566,430

Reserve Money (Base Money

11,320,304

--Currency in Circulation

3,259,269.15

--Banks Reserves --Special Intervention Reserves

11,320,303.72 384,377.56

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

June 2022

Inter-Bank Call Rate

11.10

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

13.00

Treasury Bill Rate

2.45

Savings Deposit Rate

1.38

1 Month Deposit Rate

3.48

3 Months Deposit Rate

4.55

6 Months Deposit Rate

4.97

12 Months Deposit Rate

5.30

Prime Lending rate

12.29

Maximum Lending Rate

27.61

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT THURSDAY, MAY 7

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zaﬁro (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).

T H I S D AY ˾ ˜ ͯͰ˜ ͰͮͰͰ

Gbededo: Flour Mills Has Progressively Improved in FiveYears Kayode Tokede The Vice Chairman, Flour Mills of Nigeria (FMN) Plc, Mr. Paul Gbededo has expressed that the food and agro-allied company’s performance has progressively improved in the last five years. Gbededo who was speaking to journalists at the company’s 62nd Annual General Meeting (AGM) in Lagos, said, “The company has been doing fantastically well. “Our business has been progressively

improving especially in the last five years, and for a company to achieve over N1 trillion as the topline, I think we have come of age. “Indeed, this is a very good result for the company and shareholders. We appreciate the commendation by the shareholders and shall also seriously consider their observations in growing the Company even greater. At the AGM, the Vice Chairman represented the Board Chairman, Mr. John G. Coumantaros, who

P R I C E S MAIN BOARD

F O R DEALS

announced solid performance across key business segments, with revenue growing by 51per cent. Shareholders at the meeting commended the Board of Directors and management for an impressive performance and adopted all the resolutions presented, including the payment of a dividend of N2.15kobo per ordinary share of 50kobo amounting to a total of N8.82 billion for the financial year ended March 31, 2022, an increase of 30 percent from the previous finan-

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

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cial year Shareholders in attendance reiterated their confidence in the Group’s board and management, based on FMN’s continued stellar financial performance under their leadership. Other special businesses by a special resolution voted on during the AGM include: cancellation of the Company’s unissued shares, separation of the power assets of the company, separation of the manufacturing assets of the company and raising capital to as much as N200billion.

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Also commenting on the Groups continuous investment in local content development, the Group’s Managing Director/CEO, Mr. Boye Olusanya noted: “As a leading food and agro-allied Group, we have always felt the need to be involved in all stages of the food value chain. “We believe it is crucial to securing our supply chain, as it ensures that we have total quality control over our production process and can continue to deliver the highest

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quality and nutritious products to our consumers. “And that is why we have, over the years continued to invest heavily in backward integration in accordance with the mandates of Nigeria’s Backward Integration Plan (BIP)”. The Group recorded an outstanding top-line growth across all business segments for the year with a revenue increase of 51per cent and Profit Before Tax reaching N41 billion, up from N37 billion in the prior year.

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MONDAY SEPTEMBER 12, 2022 •T H I S D AY

MONDAY, SEPTEMBER 12, 2022 • T H I S D AY

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

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 08Sept-2022, unless otherwise stated.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A Afrinvest Dollar Fund N/A N/A N/A 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 N/A N/A N/A AIICO Balanced Fund N/A N/A N/A ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 7.42% Anchoria Equity Fund 138.83 140.39 -0.30% Anchoria Fixed Income Fund 1.18 1.18 3.35% info@anchoriaam.com 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 N/A N/A N/A ARM Discovery Balanced Fund N/A N/A N/A ARM Ethical Fund N/A N/A N/A ARM Eurobond Fund ($) N/A N/A N/A ARM Fixed Income Fund N/A N/A N/A ARM Money Market Fund N/A N/A N/A AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 91.44 91.44 -5.46% AVA GAM Fixed Income Dollar Naira 1,096.20 1,096.20 9.62% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.09 2.09 2.90% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.32 2.37 9.50% CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalﬁf@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund Name Bid Price Offer Price Yield / T-Rtn Capitaltrust Halal Fixed Income Fund N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.01 1.01 5.83% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 12.22% Paramount Equity Fund 19.14 19.49 9.86% Women's Investment Fund 146.14 147.91 2.96% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 8.37% Cordros Milestone Fund 130.96 131.89 5.27% Cordros Dollar Fund ($) 111.07 111.07 5.01% CORONATION ASSETS 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 9.40% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 10.38% EDC Nigeria Fixed Income Fund 1,117.07 1,136.66 0.51% EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund N/A N/A N/A Emerging Africa Bond Fund N/A N/A N/A Emerging Africa Balanced Diversity Fund N/A N/A N/A Emerging Africa Eurobond Fund N/A N/A N/A FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund 1499.87 1499.87 11.47% FBN Balanced Fund 193.77 195.10 10.57% FBN Halal Fund 123.24 123.24 10.76% FBN Money Market Fund 100.00 100.00 10.16% FBN Dollar Fund (Retail) 125.74 125.74 5.96% FBN Nigeria Smart Beta Equity Fund 159.05 161.19 5.95% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 8.55% Legacy Debt Fund 3.56 3.56 -11.08% Legacy Equity Fund 1.88 1.91 7.90% Legacy USD Bond Fund 1.24 1.24 2.79% 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 Balanced Fund Coral Income Fund Coral Money Market Fund

4,052.32 3,616.07 100.00

4,105.98 3,616.07 100.00

5.77% 6.19% 10.48%

FSDH Dollar Fund 1.11 1.11 4.04% GUARANTY TRUST FUND MANAGERS LIMITED 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 10.10% Vantage Balanced Fund 2.93 2.97 2.88% Vantage Guaranteed Income Fund 1.00 1.00 6.00% Kedari Investment Fund (KIF) 142.68 142.68 4.01% Vantage Equity Income Fund (VEIF) - June Year End 1.23 1.27 2.20% Vantage Dollar Fund (VDF) - June Year End 1.06 1.06 0.78% 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 1.61 1.64 13.33% Lotus Halal Fixed Income Fund 1,168.15 1,168.15 6.39% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 12.05 12.13 10.61% Meristem Money Market Fund 10.00 10.00 10.76% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 102.41 102.41 9.67% Norrenberger Money Market Fund (NMMF) 100.00 100.00 11.42% 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 N/A N/A N/A PACAM Fixed Income Fund N/A N/A N/A PACAM Money Market Fund N/A N/A N/A PACAM Equity Fund N/A N/A N/A PACAM EuroBond Fund N/A N/A N/A 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 123.40 125.87 0.05% 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 1.06 1.06 9.24% 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 3,533.72 3,567.61 4.32% Stanbic IBTC Bond Fund 241.61 241.61 2.56% Stanbic IBTC Ethical Fund 1.39 1.41 11.11% Stanbic IBTC Guaranteed Investment Fund 325.82 325.83 4.05% Stanbic IBTC Iman Fund 258.17 262.01 10.69% Stanbic IBTC Money Market Fund 1.00 1.00 10.20% Stanbic IBTC Nigerian Equity Fund 11,729.26 11,889.20 7.51% Stanbic IBTC Dollar Fund (USD) 1.34 1.34 3.54% Stanbic IBTC Shariah Fixed Income Fund 119.63 119.63 2.33% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 112.06 112.06 5.34% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 0.95 0.97 7.47% United Capital Balanced Fund 1.34 1.36 2.73% United Capital Wealth for Women Fund 1.12 1.14 8.72% United Capital Sukuk Fund 1.08 1.08 4.92% United Capital Fixed Income Fund 1.91 1.91 4.32% United Capital Eurobond Fund 123.15 123.15 3.93% United Capital Money Market Fund 1.00 1.00 11.51% 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 Balanced Strategy Fund 13.61 13.73 3.17% Zenith ESG Impact Fund 15.57 15.72 6.51% Zenith Income Fund 23.09 23.09 5.20% Zenith Money Market Fund 1.00 1.00 9.45% VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 3.79 3.89 -5.55% Vetiva Consumer Goods Exchange Traded Fund 6.02 6.12 3.06% Vetiva Grifﬁn 30 Exchange Traded Fund 17.95 18.15 1.51% Vetiva Money Market Fund 1.00 1.00 9.50% Vetiva Industrial Goods Exchange Traded Fund 17.82 18.02 -10.78% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 140.60 142.60 -10.81%

REITS NAV Per Share

Yield / T-Rtn

118.56 51.93

4.66% 2.11%

Bid Price

Offer Price

Yield / T-Rtn

14.18 126.83 98.98 16.40 17.10

14.28 130.05 101.14 16.50 17.20

1.34% -0.22% -0.78% -8.42% 15.96%

NAV Per Share

Yield / T-Rtn

107.59

0.00%

Fund Name SFS REIT Union Homes REIT

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

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

MONDAY SEPTEMBER 12, 2022 •T H I S D AY

MONDAY, SEPTEMBER 12, 2022 • T H I S D AY

FOCUS

21 Years Later, Americans Still Haunted By ‘Legacy’ of 9/11 We will never forget, we will never give up, says Biden Emmanuel Addeh in Abuja In 2001, Americans watched in horror as the terrorist attacks of September 11, of that year, left nearly 3,000 people dead in New York City, Washington, D.C., and Shanksville, Pennsylvania. Twenty years later, precisely last year, they watched in sorrow as the nation’s military mission in Afghanistan – which began less than a month after 9/11 – came to a bloody and chaotic conclusion. The enduring power of the September 11 attacks is clear: An overwhelming share of Americans who are old enough to recall the day remember where they were and what they were doing when they heard the news. Yet an ever-growing number of Americans have no personal memory of that day, either because they were too young or not yet born, a Pew Research Centre Report , noted. A review of US public opinion in the two decades since 9/11 reveals how a badly shaken nation came together, briefly, in a spirit of sadness and patriotism; how the public initially rallied behind the wars in Afghanistan and Iraq, though support waned over time; and how Americans viewed the threat of terrorism at home and the steps the government took to combat it. As the country came to grips with the tumultuous exit of United States military forces from Afghanistan, the departure has raised long-term questions about the country’s foreign policy and America’s place in the world. Yet the public’s initial judgments on that mission were clear: A majority endorsed the decision to withdraw from Afghanistan, even as it criticised the Joe Biden administration’s handling of the situation. And after a war that cost thousands of lives – including more than 2,000 American service members – and trillions of dollars in military spending, a new Pew Research Centre survey found that 69 per cent of United States adults said the country had mostly failed to achieve its goals in Afghanistan. Indeed, the 9/11 attacks inflicted a devastating emotional toll on Americans. But as horrible as the events of that day were, a 63 per cent majority of Americans said last year that they couldn’t stop watching news coverage of the attacks. Americans were enraged by the attacks. Three weeks after 9/11, even as the psychological stress began to ease somewhat, 87 per cent said they felt angry about the attacks on the World Trade Centre (WTC) and Pentagon. Fear was widespread, not just in the days immediately after the attacks, but throughout 2001. The importance of 9/11 transcended age, gender, geographic and even political differences. A 2016 study noted that while partisans agreed on little else that election cycle, more than seven-in-ten Republicans and Democrats named the attacks as one of their top 10 historic events. It is difficult to think of an event that so profoundly transformed the United States' public opinion across so many dimensions as the 9/11 attacks. While Americans had a shared sense of anguish after September 11, the months that followed also were marked by rare spirit of public unity. George Bush, who had become president nine months earlier after a fiercely contested election, saw his job approval rise 35 percentage points in the space of three weeks. In late September 2001, 86 per cent of adults – including nearly all Republicans (96 per cent) and a sizable majority of Democrats (78 per cent) – approved of the way Bush was handling his job as president. Americans also turned to religion and faith in large numbers. In the days and weeks after 9/11, most Americans said they were praying more often. With the US now formally out of Afghanistan – and with the Taliban firmly in control of the country – most Americans (69 per cent) said the United States failed in achieving its goals in Afghanistan. In May 2011, the US Navy Seal launched a risky operation against Osama bin Laden’s compound in Pakistan and killed the al-Qaida leader.The public reacted to bin Laden’s death with more of a sense of relief than jubilation. In recent years, the share of Americans who point to terrorism as a major national problem has declined sharply as issues such as the

economy, the COVID-19 pandemic and racism have emerged as more pressing problems in the public’s eyes. It has now been 21 years since the terrorist attacks on the World Trade Centre and Pentagon and the crash of Flight 93 – where only the courage of passengers and crew possibly prevented an even deadlier terror attack. For most who are old enough to remember, it is a day that is impossible to forget. In many ways, 9/11 reshaped how Americans think of war and peace, their own personal safety and their fellow citizens. And today, the violence and chaos in a country half a world away brings with it the opening of an uncertain new chapter in the post-9/11 era. But yesterday, Americans remembered the 9/11 with moments of silence, readings of victims’ names, volunteer work and other tributes 21 years after the deadliest terror attack on US soil. Other communities around the country made candlelight vigils, interfaith services and other commemorations. Some Americans joined in volunteer projects on a day that is federally recognised as both Patriot Day and a National Day of Service and Remembrance. The observances followed a fraught milestone anniversary last year. It came weeks after the chaotic and humbling end of the Afghanistan war that the US launched in response to the attacks. But the event may be less of an inflection point as it remains a point for reflection on the attack that killed nearly 3,000 people, spurred a US “war on terror” worldwide and reconfigured national security policy. It also stirred — for a time — a sense of national pride and unity for many, while subjecting Muslim Americans to years of suspicion and bigotry and engendering debate over the balance between safety and civil liberties. In ways both subtle and plain, the

aftermath of 9/11 ripples through American politics and public life to this day. And the attacks have cast a long shadow into the personal lives of thousands of people who survived, responded or lost loved ones, friends and colleagues. On Sunday, President Joe Biden laid a wreath at the Pentagon; while first lady Jill Biden was scheduled to speak in Shanksville, Pennsylvania, where one of the hijacked planes went down after passengers and crew members tried to storm the cockpit as the hijackers headed for Washington. Vice President Kamala Harris and husband Doug Emhoff were also due at the National September 11 Memorial in New York, but by tradition, no political figures speak at the ground zero ceremony. It centres instead on victims’ relatives reading aloud the names of the dead. Americans remembered 9/11 with tear-choked tributes and pleas to “never forget,” 21 years after the deadliest terror attack on US soil. “For us, it was being around people who kind of experienced the same type of grief and the same feelings after 9/11,” said Nikita Shah, who was 10 when her father was killed at the World Trade Centre. Other communities around the country marked the day with candlelight vigils, interfaith services and other commemorations. Some Americans joined in volunteer projects on a day that is federally recognised. Yesterday’s event came a little more than a month after a US drone strike killed a key al-Qaida figure who helped plot the 9/11 attacks, Ayman al-Zawahri. It also stirred — for a time — a sense of national pride and unity for many, while subjecting Muslim Americans to years of suspicion and bigotry and engendering debate over the balance between safety and civil liberties. In ways both subtle and plain, the aftermath of 9/11 ripples through American

politics and public life to this day. And the attacks have cast a long shadow into the personal lives of thousands of people who survived, responded or lost loved ones, friends and colleagues. On the day, Biden marked the 21st anniversary of the attacks, taking part in a sombre wreathlaying ceremony at the Pentagon held under a steady rain and paying tribute to “extraordinary Americans” who gave their lives on one of the nation's darkest days. Sunday's ceremony occurred a little more than a year after Biden ended the long and costly war in Afghanistan that the US and allies launched in response to the terror attacks. Biden noted that even after the United States left Afghanistan that his administration continues to pursue those responsible for the 9/11 attacks. Last month, Biden announced the US had killed al-Zawahri, the Al-Qaida leader who helped plot the attacks, in a clandestine operation. “We will never forget, we will never give up,” Biden said. “Our commitment to preventing another attack on the United States is without end,” he added. The president was joined by family members of the fallen, first responders who had been at the Pentagon on the day of the attack, as well as Defence Department leadership for the annual moment of tribute carried out in New York City, the Pentagon and Somerset County, Pennsylvania. “We owe you an incredible, incredible debt,” Biden noted. In ending the Afghanistan war, the Democratic president followed through on a campaign pledge to bring home US troops from the country's longest conflict. Biden marked the one-year anniversary of the US withdrawal from Afghanistan late last month in low-key fashion. He issued a statement in honour of the 13 US troops killed in the bombing at the Kabul airport and spoke by phone with US veterans assisting ongoing efforts to resettle in the United States Afghans who helped the war effort. But Senate Minority Leader Mitch McConnell had on Thursday criticised Biden's handling of the end of the war and noted that the country had spiralled downward under renewed Taliban rule since the US withdrawal. “Now, one year on from last August’s disaster, the devastating scale of the fallout from President Biden’s decision has come into sharper focus," McConnell said. “Afghanistan has become a global pariah. Its economy has shrunk by nearly a third. Half of its population is now suffering critical levels of food insecurity," he added. But the president also remembered the words of comfort Queen Elizabeth II, who died last week, sent to the American people soon after the 2001 attacks: “Grief is the price we pay for love." Biden said those words remain as poignant as they did 21 years ago but the weight of loss also remains heavy. “On this day, the price feels so great,” Biden said. Biden has recently dialled up warnings about what he calls the “extreme ideology” of former President Donald Trump and his “MAGA Republican" adherents as a threat to American democracy. Without naming Trump, Biden again on Sunday raised a call for Americans to safeguard democracy. “It’s not enough to stand up for democracy once a year or every now and then,” Biden said. “It’s something we have to do every single day. So this is a day not only to remember, but also is a day for renewal and resolve for each and every American in our devotion to this country, to the principles it embodies, to our democracy,” he stated. Also, First lady Jill Biden spoke to a crowd at the Flight 93 National Memorial Observance in Shanksville, Pennsylvania, where she recalled the concern she had about her sister Bonny Jacobs, a United Airlines flight attendant. She said the attacks showed that “with courage and kindness we can be a light in that darkness,” according to the Associated Press (AP). “It showed us that we are all connected to one another,” said Biden, who was joined by her sister in Shanksville for Sunday's commemoration. “So as we stand on this sacred and scarred earth, a record of our collective grief and a monument to the memories that live on each day, this is the legacy we much carry forward: Hope that defies hate,” she stressed.

T H I S D AY • MONDAY, SEPTEMBER 12, 2022

NEWSXTRA

IGBOETITI LGA THANK-YOU-TOUR… L-R: Former Governor of Enugu State, Dr. Okwesilieze Nwobodo; Enugu State PDP Governorship Candidate, Dr. Peter Mbah; his running mate, Ifeanyi Ossai, and Executive Chairman, Igboetiti Local Government, Ikenna Nwodo, during a thank-you-tour of Igboetiti local government area …recently

DSS: Findings from Mamu's Investigation Mind-boggling Cautions against unguarded utterances, says court will determine course of action Kingsley Nwezeh in Abuja The Department of State Security (DSS), at the weekend, said findings from the ongoing investigation of a media consultant to the Kadunabased Islamic cleric, Sheikh Ahmad Gumi,and negotiator for the release of AbujaKaduna train passengers, Tukur Mamu, was "mind boggling". The agency, had, since the

arrest of the publisher of Desert Herald in Cairo, Egypt, executed a search warrant on his residence and offices. It also searched the residences of his relatives amid calls to charge him to court at the constitutionally stipulated time frame. A statement issued by DSS cautioned against unguarded utterances designed to distract the ongoing investigation. "The Department of State

Services (DSS) has followed, with keen observation, overzealous comments by sections of the public in view of issues relating to the arrest and investigation of Tukur Mamu. "The service wishes that it is not distracted with some of the skewed narratives pervading the media space. Instead, it requests to be left alone to concentrate on the ongoing investigations, the outcomes of which have

remained mind-boggling," it said. The statement by its Spokesman, Dr Peter Afunanya, stated: "The service will cease further comments on the subject matter since the court will determine its course. Consequently, the public is hereby enjoined to desist from making unguarded utterances and await the court proceedings." The DSS said last week after

Supreme Court Bench Depletes Further as Valedictory Service for Retired Justice Aboki Holds Thursday Alex Enumah in Abuja The number of justices at the Supreme Court of Nigeria has further reduced from 14 to 13, following the retirement of Justice Abdu Aboki, who attained the age of 70 last month. According to a statement by the apex court, Justice Aboki, bowed out of office on August 5, when he attained the mandatory retirement age of 70 years for Justices of the Supreme Court. The statement signed by the Supreme Court's Director, Press and Information, Dr. Festus Akande explained that, "the valedictory court session could not hold then due to the annual vacation of the Court." Akande observed that, "Justice Abdu Aboki was sworn-in as Justice of the Supreme Court alongside seven other distinguished jurists on November 6, 2020; thus spending a rather short period of one year and eight months on the apex court’s bench. The then Chief Justice of Nigeria (CJN), Justice Ibrahim Muhammad (Rtd) had commended President Muhammadu Buhari for appointing Aboki and the seven others stating that, "the bench of the Supreme Court is one

short of its full compliment of 21 Justices." According to Muhammad, "before now there are only 12 Justices on the bench of the Supreme Court but with the new eight Justices we now have 20 Justices." However, in less than two years, the bench has witnessed a sharp drop from 20 to 13, owing to death and retirements. This year alone, the Supreme Court so far has witnessed four retirements. First, it was Justice Mary Peter-Odili, who retired on May 13, 2022 and was quickly followed by Justice Ejembi Eko on May 23 and thirdly, the immediate past CJN, Ibrahim Muhammad, on June 27. However, while both Justices Peter-Odili and Eko, had retired based on attaining the compulsory retirement age of 70 years, the former CJN hurriedly resigned before his retirement age which was due in December next year. Although, Muhammad had cited health reasons for his premature retirement, it would be recalled that 14 Justices of the Supreme Court had protested over working conditions at the apex court which they said was deplorable in the history of the Judiciary. Following the protest and other corruption allegations,

the former CJN had then tendered his resignation letter to the president and Justice Kayode Ariwoola, who was next to him then was sworn in as CJN after his confirmation by the Senate. With the current number of 13 including the CJN, Justice Ariwoola, the workload on the final court is expected to be cumbersome. For example, for any constitutional matter to be heard, it would require the constitution of a 7-man panel. The implication is that with the current number of 13 Justices, the apex court cannot constitute two separate panels at a time. It should be noted that the next general elections is less than six months away and with several pre-election matters at various stages in the various levels of courts and all definitely ending up in the apex court, the need for appointment of more Justices cannot be more urgent. Justice Aboki was born on August, 1952 in the commercial city of Kano. He had his primary and secondary education in Kano State before proceeding to Ahmadu Bello University, Zaria where he studied Law. Upon his graduation in 1976, he proceeded to the Nigerian

Law School in Victoria Island, Lagos; and was called to the Nigerian Bar in 1977. Justice Aboki was appointed a High Court Judge in Kano State Judiciary in 1987. He was elevated to the Court of Appeal in 2006; from where he came to Supreme Court in 2020. He had served in different capacities in many Committees at different levels of Courts in the course of his career. He had equally attended several conferences and workshops where he presented scholarly papers within and outside the country. According to the statement, his, "Valedictory court session which will commence at 10:00am at the main courtroom of the Supreme Court, will be presided by the acting Chief Justice of Nigeria, Justice Olukayode Ariwoola." The remaining 13 Justices include; Justice Olukayode Ariwoola, Justice Musa Dattijo Muhammad, Justice Kudirat Kekere Ekun, Justice Inyang Okoro, Justice Chima Nweze, Justice Amina Adamu Augie, Justice Uwani Abba Aji, Justice Lawal Garba and Justice Helen Ogunwumiju. Others are; Justice I.N.M. Saulawa, Justice Adamu Jauro, Justice Tijjani Abubakar and Justice Emmanuel A. Agim.

Mamu's arrest that security agencies recovered incriminating materials including military accoutrements and large amounts in different currencies and denominations. "So far, appropriate security agencies have executed valid search warrants on Mamu’s residence and office. During the processes, incriminating materials including military accoutrements were recovered. "Other items include large amounts in different currencies and denominations as well as financial transaction instruments. While further investigations continue, Mamu will, surely, have a day in court," it said. The DSS, had last Wednesday, announced the arrest, in Cairo, Egypt, of Mamu. The agency said, in a statement that, Mamu was in its custody as "a person of interest",arrested in order to provide answers to questions relating to ongoing investigation relating to

security matters. "The Department of State Services (DSS) has been inundated with enquires in respect of the arrest or otherwise of Tukur Mamu, the self-acclaimed Kaduna train hostage negotiator. "This is to confirm that Manu, as a person of interest, was intercepted by Nigeria’s foreign partners at Cairo, Egypt on September 6, 2022, while on his way to Saudi Arabia. He has since been returned to the country, today, September 7, 2022, and taken into the service’s custody", he said. The added: "The act followed a request by Nigeria’s military, law enforcement and intelligence community to their foreign partners to bring back Mamu to the country to answer critical questions on ongoing investigations relating to some security matters in parts of the country. The public may wish to note that the law will appropriately take its course."

Imo Agog as Buhari Visits There’s currently an atmosphere of festivities and excitement in Imo State as the government and people prepare for the second official visit of President Muhammadu Buhari to the state on Tuesday, September 13, 2022. Commissioner for Information and Strategy, Hon Declan Emelumba, in a statement at the weekend by the Chief Press Secretary and Media Adviser to Governor Hope Uzodinmma, Oguwike Nwachuku, said many town union presidents, market women associations and road transport workers unions, had called in to express their gratitude to the governor for fixing the two major roads of Owerri to Orlu and Owerri to Okigwe, which had remained unmortorable for decades. While excited that the president was personally coming to commission the projects, they confessed that the new roads

had positively impacted their businesses. The commissioner reiterated that the president was expected to commission three landmark projects executed by the governor in less than three years. He listed the projects as the dualised Owerri-Orlu Road, the phase one of Owerri-Okigwe road and the rebuilt ultra modern Imo State House of Assembly Complex. According to the commissioner, every arrangement to ensure a hitch free visit of Mr. President has been put in place, as preparation reached a fever pitch on Saturday with the state government putting finishing touches to the programme for the visit. The statement noted that the visit, which is the president's second to Imo, was a sign the governor was doing well.

MONDAY, SEPTEMBER 12, 2022 • T H I S D AY

NEWSXTRA

FACILITY TOUR… L-R: HSE Supervisor, Nosak Distilleries Limited, Mr Ovie Okudor; Managing Director, Nosak Distilleries Limited, Mr Osaro Omogiade; Managing Director/Chief Executive Oﬃcer, Intercontinental Distillers Limited, Chief Patrick Anegbe; Group Executive Director, Oils & Fats, Nosak Group, Mr Osaheni Ogunbor; Group Chief Strategy Oﬃcer, Nosak Group, Mr Deji Rahman and Assistant General Manager, Nosak Distilleries Limited, Mr Tolulope Koyenikan during a business visit and facility tour to Nosak Distilleries Limited…recently

‘Akeredolu, Most Qualified to Head S'West Tinubu/Shettima Campaign C’ttee’ Fidelis David in Akure A former Commissioner for Culture and Tourism in Ondo State and member of the All Progressives Congress (APC) campaign committee, Mr Femi Adekanbi, yesterday, revealed that Governor Oluwarotimi Akeredolu, SAN, of the state, was the most qualified governor

from the South West to head the Tinubu/Shettima Presidential Campaign committee in the zone. The ruling party had created zonal directorates for the six geopolitical zones, each of whichwould be headed by a serving governor. However, multiple sources had confirmed that Akeredolu would oversee the Bola Ahmed/Kashim Shettima

Presidential Campaign in the South West. Speaking with Journalists in Akure, he expressed confidence that if Akeredolu has been pencilled in as the head of the Presidential Campaign in the zone, he would lead the party to victory in the zone. According to Adekanbi, Akeredolu, being the Chairman

UN: 212 Children Killed, Maimed in Military, Militants' Crossfires in North-east in One Year Emmanuel Addeh in Abuja The United Nations (UN) has reported that at least 212 children were killed in crossfires between the Nigerian military and several violent groups in the north-east , comprising 136 boys and 73 girls, with the sex of three victims still unknown. The UN report noted that children living in the three conflict-affected states in north-east Nigeria have continued to endure grave violations, though in decreasing numbers, mainly in the hands of Boko Haram-affiliated and splinter groups. In the third report released by the

Office of the Special Representative of the Secretary General for Children and Armed Conflicts, the UN said that efforts must be increased to protect children from violence and conflict. It said a total of 694 grave violations against 532 children were verified during the reporting period from January 2020 to December 2021. The UN added that though this represents a sharp decrease compared with the previous report during which 5,741 grave violations were verified for a three-year period, the highly volatile and rapidly evolving security situation in northeastern Nigeria continues to have a

negative impact on the protection of conflict-affected children. Stressing that the situation is reverberating across the borders in the Lake Chad Basin region , the report said that grave violations intensified within the reporting period, from 250 grave violations verified in 2020 to 444 verified in 2021. “The children of Nigeria and of the Lake Chad Basin region have to live under the constant fear and threat of grave violations against them, especially gruesome violations at the hands of Boko Haram-affiliated and splinter groups.

of APC South West Governors' Forum, was the most competent and fit to lead the campaign of the APC presidential campaign, because he was a resourceful, ingenious and practical politician and leader with the knack for getting results where others could not succeed " I can tell you that Akeredolu is the most qualified, apart from the fact that he is the Chairman of APC governors' forum. Don't forget the fact that he has been performing excellently well in that

aspect. He championed the call for Southern presidency. Majority of us in the Yoruba land believed that he's in the best position to lead the race, to champion the course. "Let me tell you that he's going to succeed in it and he's going to come out victorious in all the six states and it is a pride for us in Ondo State to have him as the head of the campaign committee. I want to appeal to all of us in the state, irrespective of our political parties, to join hands with him in ensuring that

2023: APC Zonal C’ttee Kicks Off South-south Assessment Tour Adedayo Akinwale in Abuja The All Progressives Congress (APC), has kicked off the zonal fact-finding and assessment of the South-south states in Asaba, Delta State, ahead of the 2023 general election. APC National Vice Chairman, South-south, Victor Giadom, at the weekend, led members of the zonal working committee

to interface with leaders and critical stakeholders of the party to ascertain the health of the party in the six states of the region. Giadom, in a statement, said the town hall meeting was at the behest of the national secretariat of the party, and was designed to enable firsthand understanding of issues that might inhibit the electoral

REPORT: NIGERIA’S $15.7BN 2022 FUEL SUBSIDY PROJECTION TO EXCEED ALL 36 STATES’ BUDGET then been unable to meet all of its production allocation, hitting just 1.083 million bpd in the July assessment and falling even lower to 972,000 barrels in August.

NNPCL Loses $700 million Monthly to Crude Oil Theft NNPCL lamented the heavy toll of crude oil theft on its performance, saying it loses 470,000 barrels per day, which amounts to $700 million monthly, in addition to security challenges that hinder oil production in some terminals. Wunti, while speaking with some journalists at the weekend during a tour of NNPCL facilities, said the pipelines, particularly, those around Bonny terminal, could not be operated due to the activities of criminals. He said the number of barrels stolen rose on a daily basis, saying about 270 barrels, supposed to be loaded in Bonny, are no longer going to be loaded because of theft. According to Wunti, “If you're producing 30,000 barrels a day, every month, you get 1,940 barrels. So what it means is that you can take it to 270 every four days, calculate it in a month; you will have seven cargos on a million barrels, that's seven million barrels. "When you multiply seven

million barrels by $100 that is $700 million lost per month, while about 150,000 barrels expected are differed, we are not producing due to security challenges.” He added, “The Shell Petroleum Company (SPDC) trunk line, TNP transnational pipeline, cannot be operated and this has been like this since March the 3rd that we put in this. Just take your calculator, 150,000, it means if you want to arrive at one million barrels per day, it means every week as a minimum, basically for one week alone, it’s four cargo and four cargo is four million barrels. Four million barrels formula bar or $100 is $400 million. So you can do your calculations by yourself, take whatever price you want, take this to multiply by the number of days that have been shut in since March 3." The NAPIMS general manager said Forcados was not completely secured due to some challenges, but assured that they were addressing it, and in two weeks it might be fixed. According to him, “But we also have Brass, about 100,000 barrels, which is operated by Agip and is also facing insecurity and vandalism. "Illegal siphoning of crude oil from oil facilities by criminal individuals and groups impacted negatively on revenue to all stakeholders.

He lamented that the quantity of oil delivered into these federal oil terminals in the country had been limited by the activities of pipeline vandals and organised criminals. Wunti said vandalism caused low crude oil production, interrupted gas supply, countrywide interruption of distribution of petroleum products, refineries’ downtimes, increasing instability in the oil and gas market, “but I will tell you the major thing that affects us.” He revealed, “Nigeria will suffer for it; the revenues are impacted, so we can only appeal to them to rein in themselves, the oil theft situation is regrettable. It's not going on across the whole of the Niger Delta, there are trunk lines that are more impacted on, I think the Bonny trunk line ranks highest. “Our major challenge as a country is our capability to respond and that is as a result of several factors, the terrain as well as some incapacity that we have.” Commenting on the role of technology in the effort to check illegal activities around the oil facilities in the creeks, Wunti said, “I was in the Saudi Arabia infrastructure twice, and I know what they have. It’s a digital control system; it’s different from our own. Digital control system, it's like you have the control system of all your

he comes out victorious. "He deserves to be the president of this country but he didn't move towards that path but now that we have a gigantic project before him, we have no choice than letting him lead," he stressed. While speaking on the need for various support groups to come together, Adekanbi said the merger would boost the campaign efforts of the Presidential candidate and his running mate.

assets in one place. “This is beyond the digital control system; it's also a security system and we are doing it and to tell you that this was built-in by our in-house software engineers because of the security sensitivities to it, because they are customised, the moment you give to somebody who creates that. So we use a combination of technology to integrate and synchronise and create what we are now confident and comfortable with. "In the effort of the corporation to meet its financial tasks the corporation maintained industry data on crude and all NGS production and lifting and most importantly, we ensured energy security, ensuring bulk supply of petroleum products to the nation and remit 100 per cent of this to the federation.” Speaking on synergy with other government agencies, Wunti explained that the Nigerian Midstream and Downstream Petroleum Regulatory Authority, former DPR, and the regulatory commission had issued what they called Bill of Quantity and they also handled vessel clearance and export permits, while the Federal Ministry of Trade and Industry handled the issuance of export permits. He said, "We also relate with the Nigerian Customs Service, which also helps with the export permit

and to also clear all the vessels; and the Central Bank of Nigeria processes all Nigerian Export Proceeds forms, Nigerian export supervision scheme. So, these are all the agencies we deal with, it's not an NNPC thing, we have to work through all these agencies before a ship can come in and sail". The NAPIMS general manager mentioned some of the government agencies at the terminals to include Nigerian Midstream and Downstream Petroleum Regulatory Authority; the Regulatory Commission; the Nigerian Customs at the terminal; NNPC terminal representatives; pre-shipment inspection agents; Nigerian Immigration officials; Nigerian Ports Authority; and Nigerian Port Health Authority. He stated, “Then recently, the Navy wanted to be at the terminal. In fact, we are trying to deploy them anytime from now. They also want to be at the terminals to see what is going on, because a lot of back and forth has been going on in the recent past, blaming the Navy. So, they now said they want to be there to participate physically in what's going on. "You can see what is happening, that it’s not just an NNPC thing, it is all government agencies working together to make sure that each ship that comes at any point in time has all the clearances.”

fortunes of the APC. "We are here this evening on the directive of the National headquarters of our great party, not just to visit Delta State, but to visit all the states in the South-south zone. These, we believe, will enable us at the center to understand the health of this party, things we are doing rightly and the things we ought to improve upon. "I am sure all of us here will agree that we have about five months to election, and the Independent National Electoral Commission (INEC) will on the 28th of this month lift ban on electioneering campaigns all over the country, at least, for that of the national election, the presidential election and national assembly elections," he said. Giadom emphasised that the zonal working committee was in Asaba to listen to all and will collate reports from the tour for critical evaluation of happenings in each state and fashion out ways of resolving every single issue identified. He said, "So, it means that we are getting very close to action time and it becomes important for us as a political party to come back to our respective states to critically evaluate what is happening in our respective states so that we can report to the center and be able to fashion out what will be necessary, including the messages and the things that we need to do to enable us secure victory in our respective states." Members of the committee at the meeting were Zonal Publicity Secretary, Mr. David Okumgba; Zonal Organizing Secretary, Dr. Blessing Agbomhere; Special Leader of Person with Disability, Edet Asia; Zonal Woman Leader, Mrs. Cynthia Owugha; and Zonal Youth Leader, Comrade Ebimobowei.

MONDAY SEPTEMBER 12, 2022˾ T H I S D AY

NEWS

HEALTH MATTERS ON THEIR MINDS…

L-R: Group Director, Healthcare, Informa Markets, Mrs. Solenne Singer; Commissioner for Health, Lagos State, Prof. Akin Abayomi; Deputy Governor, Ogun State, Mrs. Noimot Salako-Oyedele; Commissioner for Health, Ogun State, Dr Tomi Coker, and Medic West Africa Exhibition Manager, Informa Markets, Mr. Amogh Wadwalkar, at the opening of Medic West Africa Conference in Victoria Island, Lagos… recently ETOP UKUTT

Brazilian Returnee Excretes 92 Wraps of Cocaine at Abuja Airport Michael Olugbode in Abuja A Brazilian returnee, Okolie Nwabueze has been arrested at the Nnamdi Azikiwe International Airport, Abuja by operatives of the National Drug Law Enforcement Agency (NDLEA), for importing 92 wraps of cocaine, which he ingested and eventually excreted after days under observation in the agency’s facility.

The 53-year-old trafficker, father of two, was arrested on Friday 2nd September upon his arrival on Qatar Airline flight enroute Brazil-Doha-Abuja. According to a statement issued yesterday by the spokesman of the NDLEA, Femi Babafemi, the suspect claimed to have left Nigeria to Mozambique in 2004 and finally relocated to Brazil in 2017, where he obtained a

residence permit before deciding to import the illicit substance for a $4,000 fee. Babafemi also disclosed that a 42-year-old man, Aliyu Kwasare, has been arrested at the Mallam Aminu Kano International Airport, Kano, for attempting to export a consignment of new psychoactive substance, Akuskura, to Saudi Arabia. According to him, Kwasore, who lives in Goron Dutse area of Kano, was arrested on Monday

5th Sept. during the outward clearance of passengers on Ethiopian Airline flight to Riyadh. Babafemi revealed that in the course of the week, at the Murtala Muhammed International Airport, Lagos, no fewer than 1,099,000 tablets of tramadol 225mg were seized through inter-agency collaboration between NDLEA and the Nigerian Customs. He said the pharmaceutical

opioids packed in 50 cartons weighing 2,058.90 kilogrammes were imported from Pakistan via Addis-Ababa on Ethiopian Airways, with the consignment concealed among other noncontrolled pharmaceuticals. Babafemi said last Friday, a freight agent, Aliyu Abubakar was arrested at the NAHCO export shed of the Lagos airport over attempt to export a consignment of cannabis concealed inside bottles of

Caro white body lotion. He noted that attempts by drug cartels to export 7.805 kilogrammes of crystal methamphetamine to the United States and Australia were thwarted by NDLEA operatives attached to some courier companies in Lagos. The meth consignments were concealed in the linings of local fabric, wooden statutes, printer cartridges, handle of travel bag and cassava flakes.

A United Nations (UN) Expert, Ms. Claudia Mahler, has stated that Nigeria must implement already adopted measures to protect older persons and ensure the most vulnerable are not exposed to the ageism and age discrimination still prevalent in society. Mahler, who is an independent expert on the enjoyment of all

gave the advice in a statement at the weekend after ending a 12-day visit to Nigeria. Mahler welcomed the government’s progressive efforts in combatting poverty, security concerns, economic crisis, and gender-based inequalities faced by many older people. She said: “Despite commendable progress on legal and policy

Nigeria must implement already adopted measures to protect them and ensure the most vulnerable are not exposed to the ageism and age discrimination still prevalent in society. “Such commitment translates into the adoption of the National Senior Citizens Centre Act and the establishment of a dedicated centre at federal government level

older persons are mainstreamed in all programmes and activities.” The expert said that “the pending bill called ‘Older Persons (Rights and Privileges)’ would offer the most comprehensive legal framework ever available for older persons in the country, addressing among others, the social and economic challenges triggered by ageing.

ALGON President Tasks African Nigeria Must Implement Policies to Protect Older Persons, Says UN Expert Leaders on Climate Change MichaelOlugbodeinAbuja human rights for older persons, safeguards for older persons, to ensure that the human rights of

Ibrahim Shuaibu in Kano

The National President of the Association of Local Government of Nigeria (ALGON), Mr. Kolade Alabi,has urged Africa leaders to declare climate change as a global emergency. Alabi made the call in a made available to THISDAY in Kano over the weekend. The ALGON president, who decried the high rate of increasing dangers of climate change globally, stressed that any right-thinking person on earth has a duty towards taking actions that will protect the earth from destruction. Alabi made the call when he joined other top high powered

delegations, top Nigeria technocrats, and international experts at the African Union Summit on global centre adaptation held in Rotterdam, Netherlands. The ALGON boss, while reiterating the commitment of the association under his leadership, promised to collaborate with the international community to facilitate accelerated development at the grassroots in line with international best practice. He added that the overall focus of the summit was to explore significant opportunities for job creation in rural areas as well as to ensure increases in productivity for GDP growth and poverty reduction.

130 Unclaimed Corpses of Accident Victims Buried in Kogi Ibrahim Oyewale inLokoja

No fewer than 130 corpses of the accident victims and others left unclaimed by their families have been buried in Lokoja by the Kogi State Sanitation and Waste Management Board (KSSWMB) on Saturday. It was gathered that the deceased persons were victims of accident, robbers and kidnappers who have been deposited at the Federal Medical Centers, Lokoja for several months without families or relations claiming their corpses. The dead bodies were committed to mother earth at

Felele Cementry Lokoja, Kogi State, in accordance with the law. While speaking during the mass burial of the corpses, the General Manager Kogi of KSSWMB, Mrs. Arokoyo Elizabeth, said the board is backed by law to ensure the environment is safe for habitation, stressing that the dead bodies have stayed too long in the hospital. Arokoyo, who was represented by the Acting Secretary of the KSSWMB, Sanitarian Ajayi Olufemi, said that the dead bodies were brought to the mortuary by the Nigerian Police Force and Federal Road Safety Corps, (FRSC).

APC Chairman Petitioned over Removal of Anambra Youth Leader

David-Chyddy ElekeinAwka

National Chairman of the ruling All Progressives Congress (APC), Alhaji Abdullahi Adamu, has been petitioned over alleged unlawful removal of youth leader of the party in Anambra, Innocent Nwanta. The youth leader, who addressed journalists yesterday said he has been unduly victimised by the chairman of the party in the state, Mr. Basil Ejidike.

Nwanta, who distributed copies of his petition to the national chairman to journalists, said he has been unlawfully removed by the chairman, even though both of them were elected during the same congress. He suspects that his removal may not be unconnected to the recent defection of Senator Stella Oduah back to the Peoples Democratic Party (PDP) while he stayed back.

Police Arrest 35 Robbery Suspects in Three Months in Lagos The Police command in Lagos State yesterday said 35 suspected armed robbers were arrested between June and August in the state. The command’s Spokesperson, SP Benjamin Hundeyin, disclosed this to the News Agency of Nigeria (NAN). Hundeyin said 13 other

suspected armed robbers were killed in different parts of the state during encounters with the police within the period. He said while 37 robbery operations were foiled in different parts of the state, 32 different arms and 78 ammunition abandoned in vehicles by suspects were recovered during same period.

The image maker said that no kidnappings were recorded within the period, but 15 suspected cultists were arrested. Hundeyin said six vehicles were recovered and some of the cars handed back to their owners after proof of ownership. He noted that police officers under the command had three

attacks from members of the public during same period, with the attackers since been charged to court. “Twenty-two murder cases recorded in June, 20 in July and eight in August. We had three cult incidents recorded in June, one in July and one in August.

Court Orders Seplat Energy to Pay N1.4bn Debt Wale Igbintade

Justice Owolabi Dabiri of the Lagos State High Court has ordered one of the foremost oil and gas exploration company in Nigeria, Seplat Energy Plc to pay its outstanding indebtedness of $2,112,500.00 (N1,499,875,000 .00) to an oil servicing company,

ABM Global Resources Limited. Justice Dabiri gave the order while delivering judgement in a debt recovery suit instituted by ABM Resources Limited against Seplat in suit number LD/2457GCMW/2016. ABM Resources Limited in a bid to recover the debt owed by Seplat for materials

supplied to the oil prospecting company, had in 2016 through its lawyer, Mr. Ade Oyebanji, SAN, instituted a debt recovery suit at the Lagos State High Court Ikeja. In the amended statement of claim dated 23rd November, 2020 and filed by Ade Oyebanji , SAN, on behalf

of ABM Resources Limited, the claimant said that sometimes between 2012 and 2014, SEPLAT Petroleum Development Company Plc secured her services to supply 9-5/8 N80 VAM Top Casing Pipes and 2-7/8 N80 HCS Tubing within the space of 3years.

APC Plans to Attack INEC Office to Destroy BVAS Machines, Osun PDP Alleges Yinka Kolawole in Osogbo The Peoples’ Democratic Party (PDP) has accused the APC of plotting to attack the Independent National Electoral Commission’s (INEC) office in Oshogbo to destroy the BVAS machines used during the July 16, 2022, governorship election.

A statement that was issued in Osogbo at the weekend and signed by the State Caretaker Chairman of the PDP, Dr. Akindele Adekunle, claimed that credible reports at its disposal revealed that the arson attack is to target the strong room where the machines were kept at the

Osogbo office of the electoral commission. Adekunle said: “We have a tip off which we consider to be very credible that the APC has perfected plot to burn down the INEC’s secretariat at Osogbo. We gather specifically that the target is the strong room where the machines are

kept as well as the ICT section of the commission. “We are urging the management of INEC to strengthen security protection for its state office. This threats should not be taken lightly especially after the open declaration of insurgency on the state by Mr. Famodun.”

Emenike’s Candidacy Excites My Constituency, Says Lawmaker EmmanuelUgwu-Nwogoin Umuahia Deputy Chief Whip, House of Representatives Hon Nkeiruka Onyejeocha has said that the emergence of High Chief Ikechi Emenike as the governorship

candidate of the All Progressives Congress (APC) has elicited excitement and hope among her constituents. Speaking at a stakeholders’ meeting she hosted at her Ngodo Isuochi country home weekend, the federal lawmaker noted that the

Almighty God in this appointed time has heard the cries of Abians and has sent Emenike on rescue mission. “God knows that a time like this will come when he will use Emenike to salvage Abia,” she said, adding that God has seen the APC governorship flag bearer as a man of

high integrity and total commitment to develop Abia. Onyejeocha said that the administration of Governor Okezie has become huge disappointment to the entire state hence the need to bring in “somebody who knows what to do to take charge of Abia in 2023.”

MONDAY SEPTEMBER 12, 2022˾ T H I S D AY

NEWSXTRA

SOLIDARITY VISIT TO THE GOVERNOR…

Governor Ifeanyi Ugwuanyi of Enugu State (right) welcoming the people of Agbor communities in Udi Local Government Area of the state, when they paid him a solidarity visit at the Government House, Enugu, yesterday

FG Inaugurates National Committee against Torture Michael Olugbode in Abuja The federal government, in its determination to eliminate torture, cruel inhuman and degrading treatment in the country, has reconstituted and inaugurated the National Committee against Torture

(NCAT). The committee, which was inaugurated in Abuja by the Honourable Attorney General of the Federation (AGF) and Minister of Justice, Mr. Abubakar Malami (SAN), is expected to play a crucial role in stamping out torture and other related

vices, and to secure justice for survivors and victims. Malami pointed out that the provision of adequate funding to ease the work of the committee has become imperative since lack of funding was the bane of the previous committee. He said that the committee has been given a broad mandate to deal with issues of torture in

the country in accordance with the UN’s Convention Against Torture, and is at liberty to seek more areas to dwell if the need arises, considering the critical nature of this national assignment. The AGF said that the committee is empowered to liaise with the National Human Rights Commission (NHRC)

in discharging its mandate, especially in the area of visits to correctional service facilities, to enable it to have first-hand information on the condition of inmates. In her remarks, the Solicitor General of the Federation and Chairperson of the NCAT, Ms. Beatrice Jedy Agba, on behalf of other members of the

NCAT commended Malami for reconstituting the committee. Agba assured the AGF that the committee would be committed to implementing its terms of reference satisfactorily, particularly with respect to providing timely statutory reports as required under UNCAT and fight against the scourge with renewed vigour.

The All Progressives Congress (APC) in Kwara said it is laughable the ignorant comments made by the opposition Peoples Democratic Party (PDP) on the forensic audit report recently received by the state government. The state APC Publicity Secretary, Alhaji Tajudeen Folaranmi-Aro, said this in a statement in Ilorin.

He described as unfortunate that the PDP could not distinguish between a statutory audit and a forensic audit. “The fact that the PDP could not distinguish between a statutory audit which the Auditor General carries out, and a forensic audit, on suspicion of any fraud across government agencies, testifies to why the state was in such a big

mess under their regime. “For example, the federal government has repeatedly commissioned forensic and process audits of many of its agencies, including the NNPC, NPA, NIMASA, etc. ”These audits were not necessarily carried out by the Office of Auditor General. ”We aver that the PDP is

suffering from crass ignorance in saying that the forensic audit should have been carried out or commissioned by the Auditor General. Which law stated that? None. ”It is a claim built on pitiable ignorance by those who often beat their chest about being welleducated,” the APC spokesperson said.

Firm Pledges Financial Support for SMEs Kwara APC Mocks PDP over Comments on Forensic Audit Ayodeji Ake In commemoration of its 10th anniversary, supporting and nurturing small and medium scale businesses in Nigeria, Credo Consults Limited, has restated its commitment to provide financial support to businesses for development. Addressing newsmen virtually, Chief Executive Officer/Managing Partner of Credo Consults Limited, Somkwe John-Nwosu, noted that although the world is faced with economic hardship lately, not excluding Nigeria, his organisation would continue to facilitate mentorship for growing businesses

and young entrepreneurs. He said: “10 years is a milestone, in this time, we have trained over 50 agencies and over 1,000 individuals in over 10 cities (globally and locally), and have passed through our training sessions choosing from any of our over 200 flexible courses. We have also helped businesses access over five billion naira in government interventions and funding through our financial advisory and business planning services. However, my advice to young entrepreneurs is I know that it is everybody’s dream to be your boss however I would like to address these two notions.”

Man Rapes Daughter in Ogun James Sowole in Abeokuta Men of the Ogun State Police Command have arrested 46 years old man, Olusegun Oluwole for forcefully having carnal knowledge of his 17 years old daughter (name withheld). The arrest of the suspect was disclosed in a statement signed by the Police Public Relations Officer for the command, Mr. Abimbola Oyeyemi. He said the suspect was arrested following a complaint lodged at Ibara Police station by the victim, who came in

company of some so safe corps men and reported that while she was sleeping in their one-room apartment at Amolaso area of Abeokuta at about 11:30 pm, his father, having observed that others are fast asleep, suddenly grabbed her and forcefully had sex with her with a threat to kill her if she refused to allow him. He said: “Upon the report, the Divisional Police Officer (DPO) Ibara Division, Bernard Egbondiya, quickly detailed his detectives to the scene, where the suspect was promptly arrested.

Personal Trust MFB Opens New Head Office in Lagos We assure our customers that the Adeline Okoronkwo Personal Trust Microfinance Bank, a subsidiary of First Ally Capital, recently opened its new head office building on Ikorodu Road, Jibowu, Lagos. Prior to the opening, the bank operated from Ogunlana Drive, Surulere, which will continue to serve its clients located in Surulere and environs. Speaking during the opening event, the Chairman of the Board of Personal Trust said, Dr. Okey Nwuke, said: “We are excited about the launch of our new head office. The new office provides a comfortable environment where we can change lives and impact people and businesses economically.

exceptional customer satisfaction that has helped the company to thrive over the years, will be given increased impetus with the opening of our new office.” The Group Managing Director of First Ally Capital, Mr. Ebenezer Olufowose, in his remarks, noted that microfinance / digital banking is an important element of First Ally’s strategy. He noted that Personal Trust has been positioned as a digitally enabled microfinance bank adding that the group will continue to support the bank to ensure that its capital base is robust at all times and that Personal Trust drives innovation in its chosen segment of the financial services industry.

Crowdfunding ‘ll Accelerate Financial Inclusion, Says SEC The Securities and Exchange Obisan said that crowdfunding from regulators across jurisdictions in the country. Commission (SEC) has said that operationalising crowdfunding will accelerate financial inclusion agenda of the country and boost Micro Small and Medium Enterprises (MSMEs). This is contained in a statement by the SEC Executive Commissioner, Operations, Mr. Dayo Obisan, yesterday in Abuja.

could also increase the quantum of investible funds by unlocking the untapped capital in the economy. According to him, crowdfunding platforms are websites that enable interaction between fundraisers and the crowd. He said that crowdfunding had garnered a lot of attention

because of its potentials to further financial inclusion efforts. He said that the commission’s rules governing crowdfunding became effective on January 2021, with the main objective of “investor safety”. The executive commissioner described crowdfunding as a new phenomenon growing popularity

He noted that the platform was an innovative source of finance that provided MSMEs with start-ups. ”This is to raise awareness for Nigerians on crowdfunding as a funding mechanism for start-ups and MSMES, to enlighten them on experiences and lessons on crowdfunding from other jurisdictions.

NiMet Predicts 3-day Thunderstorms, Rains The Nigerian Meteorological Agency (NiMet) has predicted thunderstorms and rains from Monday to Wednesday across the nation. NiMet`s weather outlook released yesterday in Abuja, predicted morning thunderstorms over the northern parts, especially

over parts of Sokoto, Zamfara, Kebbi, Taraba, Kaduna, Bauchi, Gombe, Borno and Adamawa states. According to the agency, Kaduna, Katsina, Kano, Bauchi, Gombe, Sokoto and Kebbi states will experience thunderstorms in the mornings.

Other states likely to experience thunderstorms are Zamfara, Borno, Yobe, Adamawa, Taraba and Jigawa. “Rains are expected over the North Central region in the morning hours. In the afternoon and evening hours, thunderstorms are expected over Kwara, Niger, Plateau,

Kogi and the FCT. “Cloudy atmosphere is anticipated over inland and coastal cities of the South. “There are chances of rains over Lagos, Oyo, Osun, Edo, Ogun, Ondo, Ekiti, Delta, and Enugu, Anambra, Imo, Cross River and Akwa Ibom states in the morning hours.

Stakeholders Hailed Reconstruction of Ilishan-Ago Iwoye Road in Ogun James Sowole in Abeokuta A great relief has come to motorists and commuters plying the abandoned Ikenne-IlishanAgo Iwoye Road, following its ongoing reconstruction by the administration of Governor Dapo Abiodun of Ogun State. Contract for the reconstruction of the road,

which traversed three local governments of Ikenne, Odogbolu and Ijebu North, in Ogun East Senatorial District, was awarded by the immediate past administration, but was later abandoned. The abandonment of the road had been causing untold hardship to commuters, particularly residents of Irolu,

Ijesha communities and many farm settlements located along the road. The dilapidated condition of the road, before the efforts of the current administration, had been causing huge economic losses to residents of the communities linked by the road. Many farm crops got rotten

because most of their patrons were travellers, but had been forced to seek alternative routes to reach their destination. Though, only one side of the road, which was designed to be a dual carriage way is already in use, the relief being experienced by commuters going to Ago Iwoye could not be over-emphasised.

Cleric Rekindles Hope for Better Nigeria as Igbinedion Marks 88 Years admonition in Benin City, capital “Because He Lives” noted that much blessed and yet the people Adibe Emenyonu in Benin The President, Nigerian Baptist Convention, Rev. Isreal Akanji, has urged Nigerians to be hopeful and make positive utterances about the nation, saying as Jesus Christ lives, all shall be well with Nigeria. Rev. Akanji gave the

of Edo State yesterday at an Interdenominational service held to mark the 88 birthday of Chief Gabriel Igbinedion, the Esama of Benin kingdom. The Baptist Convention president, who gave his sermon on the birthday celebration theme:

though the country is presently bedeviled with all sorts of terrorism including banditry, but because Jesus Christ lives, all shall be well with Nigeria. He added: “In Nigeria, in a time we are facing so much insecurity, in a country that is so

of the country are suffering. “What has God not given to us, good rainfall; good vegetation; we can plant and eat anywhere; we plant throughout the year. Nigeria is blessed but look at the degree of insecurity; look at the way human beings are being killed.” “

MONDAY SEPTEMBER 12, 2022˾ T H I S D AY

NEWSEXTRA

COURTESY VISIT…

L-R: Executive Director, Standard Chartered Bank Nigeria and West Africa, Mr. Olukorede Adenowo; Prime Minister of the Republic of Gabon, Rose Christiane Ossouka Raponda; Managing Director/CEO, Standard Chartered Bank Nigeria and West Africa, Mr. Lamin Manjang, and Chief Executive Officer, Standard Chartered Bank Cameroon, Mr. Idrissa Kamara, at the courtesy visit to the Prime Minister of the Republic of Gabon… recently

Police Rescue Three Victims of Kidnap, Recover Vehicles in Kaduna The Police operatives in Kaduna State said they rescued three kidnapped victims, recovered arms, ammunition and operational vehicles in two different locations. The Command’s Public Relations Officer, DSP Muhammad Jalije, confirmed the development in a statement

issued yesterday in Kaduna. Jalige said the Inspector General of Police (IG) Usman Alkali Baba’s directives on rigorous visible patrols and domination of public space by Police had continued to yield the desired outcome. According to him, these accomplished feats were against the backdrop of a complaint

received on September 4, that one Yusuf Abubakar of Dorayi quarters in Kano State has been abducted. “On the same date at Barde village in Ikara LGA of Kaduna State, the abductors were demanding N50 million ransom. “On receipt of the complaint, the Commissioner of Police Kaduna State, Mr. Yekini Ayoku, directed the Divisional Police

Officer Ikara to spread his operational dragnet to ensure the victim was rescued unhurt and culprits arrested. “Consequently, on September 9 at about 2015hrs, Police Operatives attached to the Division while on intensive purposeful crime prevention patrol along Ikara- Tashan Yari road, intercepted a motorcycle conveying three persons riding in a suspicious manner.

“The operatives promptly caught up with the motorcyclists after a high-speed chase and two of the riders on sensing Police pursuit jumped off the motorcycle and fled into the bush,” he added. Jalige said the operatives upon search of the motorcycle, recovered a concealed AK47 rifle loaded with 10 rounds of live 7.62 X 39mm ammunitions. He said the identity of

the rescued man was later discovered to be the Yusuf Abubakar of Dorayi whose report of kidnap was earlier received by the Division. “The victim and the exhibits were moved to the Police Station for further investigation while the fleeing culprits are being trailed for arrest. “The victim has been medically evaluated and reunited with his family, ” he said.

A former Lagos Commissioner and a leading voice in the Asiwaju Bola Ahmed Tinubu’s Presidential Campaign Council, Mr. Dele Alake, yesterday linked source of Tinubu’s wealth to trading in foreign stocks for a long period of time. Asked if the former Lagos Governor and All Progressives Congress presidential candidate

know since he is not an expert in financial matters. “I don’t know. I’m not a finance person, and would not go into the knitty gritty of his business life,” he said. Speaking during an interview on Channels Television, which was monitored by THISDAY, the former newspaper Editor called

raised about the background and business interest of Senator Bola Tinubu. He described those questions and issues as nothing but a cooked story by opposition parties to cause distraction for the candidate of the APC. On the controversy around Tinubu’s age and name, Alake

for the downfall of their opposing parties. Go to Tinubu’s acclaimed school and you will see his name on the record books. Alake also dismissed the issue of whether the APC candidate is fit and healthy to serve as president, arguing that Tinubu is healthier than those dismissing him as being unhealthy.

‘Kebbi Boat Terminal Project to Attract Business Dele Alake Links Tinubu’s Wealth to Trading in Foreign Stocks bought own shares in any Nigerian on Nigerians not to be bothered said: “There is no proof on that. from Burkina Faso, Mali’ RaheemAkingbolu company, Alake said he didn’t about frequent questions being Political parties are always famished

Ismail Adebayo in Birnin Kebbi

The National Inland Waterways Authority (NIWA) has said it was constructing a boat terminal in Yauri waterways in Kebbi State to attract trading activities from Burkina Faso and Mali. Speaking at the official foundation laying ceremony of the terminal and commissioning of two ferries performed by the Emir of Yauri, the Managing Director/Chief Executive Officer of NIWA, Dr. George Moghalu, said the establishment of a modern boat terminal in Yauri is necessary because it is a very important gateway for Nigeria and its waterways will provide access through which people can

be transported to countries like Mali and Burkina Faso for trading. He said the proposed boats station and provision of ferry boats to Yauri waterways will facilitate trading activities between Nigeria, Mali and Burkina Faso through River Niger in the emirate. “This will facilitate trade along our corridors and as well open up our channels and we can get maximum benefits from the waterways God has given to us as a people. “Nigeria is a country that is blessed with a massive 10,000 kilometres waterways spreading across the country. What we need is to see to what extent we can exploit this opportunity.”

Heirs Holdings Graduates 54 Trainees Leading pan-African investment company, Heirs Holdings (HH) recently held the graduation ceremony for the pioneer cohort of the oraganisation’s Graduate Trainee Programme, following a rigorous six months hands-on work and learning experience. The programme is driven by Heirs Academy, a world-class learning institution, established to support professional growth and career progression across HH. Out of over 18,000 applicants, 60 trainees were inducted into the programme, with 54 young professionals graduating. The trainees completed an immersive

a six-month capacity-building programme, combining learning and direct work experience, gained while rotating across investee companies of HH, including United Capital, Transcorp Group, Avon HMO, Avon Medical Practice, Africa Prudential, Afriland Properties, Heirs Oil & Gas, Heirs Life Assurance and Heirs Insurance Limited. Iwoware Christopher, giving the valedictory speech on behalf of the 2022 cohort, was full of profound gratitude and thanks to the Academy and Management of Heirs Holdings for the opportunity.

Tolu Ibitola Writes First Book Philanthropist and public administrator Tolu Ibitola has made a debut with his first book, a memoir titled, Sprouting: A Biography of My Mind. Chief of Staff to the Ekiti State Government and the second youngest to hold such office in the country, Ibitola, who recently celebrated his 40th birthday, gives readers a glimpse into the inner workings of his mind, sharing life lessons he has learned in

his four-decade-long sojourn. Sprouting: A Biography of My Mind is a personal journal-esque book that explores a variety of relatable themes like the value of staying prepared at all times, the journey of self-discovery, the shattering pain of loss, and several others. With a distinctive style of story-telling laced with humour, the thirteen-chapter book inspires tenacity, optimism, courage, creativity and positivity.

I’ll be Fair to All, Unilorin VC-designate Pledges

HammedShittuinIlorin

The Vice Chancellor-designate of the University of Ilorin, Prof Wahab Egbewole, has pledged that his in-coming administration will be fair to all members of the university community in its dealings, and be just in all circumstances. Professor Egbewole emerged the new vice chancellor of the institution

after a rigorous exercise conducted by the Governing Council of the university. Thirteen candidates slugged out in the process, and at the end of the day, a legal luminary, Professor Egbewole, emerged victorious. Various interest groups in the university have lauded the governing council of the university for conducting a free

and transparent exercise and they have thrown their support and loyalty to the incoming vice chancellor, Prof. Egbewole. The tenure of the outgoing vice chancellor, Prof. Sulyman Abdulkareem, would come to an end on October 15, 2022. A statement issued in Ilorin yesterday by Prof. Egbewole signed by the University’s

Director of Corporate Affairs, Mr. Kunle Akogun, quoted the newly appointed vice chancellor as saying that “the University of Ilorin is greater than all of us, and we want to extend our hands of fellowship to all our colleagues who also applied for this post, and appealed that they should join hands with us to do this work collectively and in an all-inclusive manner.”

FCTA CommencesTheProsecution of N29 bn Ground Rents Debtors FCTA Director of to clear their debts or forfeit the 413 defaulting property owners Olawale AjimotokaninAbuja The Federal Capital Territory Administration (FCTA) in its determination to recover all Ground Rent debts owed it by property owners in Abuja has commenced the prosecution of the 413 defaulting titleholders, who are yet to pay their Ground Rents debt.

Information, Mohammed Sule said in a statement yesterday that the administration filed the court cases against the property owners over their failure to pay the prescribed land chargers amounting to over N29 billion He said the FCTA is seeking for an order to force the debtors

affected property, since they are recalcitrant in paying the debt, despite several appeals. He said the legal fireworks may lead to the forfeiture of the affected property to the government in line with relevant laws. The FCTAlast month announced its preparedness to prosecute about

by end of the August 2022, being the first set. Sule lashed some of the debtors for reneging in paying their outstanding Ground Rents, in spite of several appeals and warnings, thereby jeopardizing government’s effort at providing critical services to the residents.

INTERPOL Steps into Lingering NLNG-Macobarb Contract Saga BlessingIbungeinPortHarcourt

The International Criminal Police Organisation (INTERPOL), Nigeria branch, has stepped into the complaint of alleged contract scam filed by a Nigerian company, Macobarb International, against the Nigeria Liquefied Natural Gas (NLNG) company and two of its staff, one

presently retired. The Inspector General of Police (IG) had directed the Interpol to step into the matter on the petition of Macobarb International and its Chief Executive Officer, Shedrack Ogboru, seeking the intervention of the Interpol based on alleged total neglect of the Rivers State Police Command to complete an investigation they

had started as ordered by a Chief Magistrate Court in Port Harcourt. The complainants (Macobarb) had claimed that the failure of the police to submit a report had hampered further action by the court on a criminal charge brought upon the NLNG, its former Managing Director, Tony Atah and Akachukwu Nwokedi, its subsisting head of legal.

Recalled that the said court presided by Chief Magistrate Blessing Vic-Jumbo had ruled on March 15, 2022, that the Rivers State Police Command which had begun investigation on court order in a private prosecution ground and had asked the court then for many extensions of time, should have submitted its report to enable trial begin.

Police Arrest Six for Attacking Operatives in Anambra David-Chyddy Eleke in Awka The Police in Anambra State have arrested six persons who allegedly attacked operatives of the Command at the palace of Augustine Ndigwe, who has been barred from parading

himself as monarch of Awka. Police operatives had last Saturday stopped Ndigwe from holding new yam festival at his palace, while Anambra State Government had in a statement proscribed the monarch, threatening to sanction

him if he continues to parade himself as one. Meanwhile, in the statement issued yesterday, the state Police Command said its deployment to the palace was to forestall trouble as the community had been factionalised, as a result

of tussle for the traditional stool. The Command said some persons known to be allies of the proscribed monarch attacked police operatives who were at the event to forestall trouble, but have been arrested and detained.

MONDAY, ͹ͺ˜ ͺ͸ͺͺ ˾ T H I S D AY

MONDAYSPORTS

Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com

0811 181 3083 SMS ONLY

Moses Simon on Target for Third Goal of Season, Sadiq Umar Injured Duro Ikh D Ikhazuagbe b Super Eagles winger, Moses Simon, picked up from where he stopped two weeks ago after returning from injury to score his third French Ligue 1 goal of the season even as Nantes lost 2-3 at Lorient yesterday. The Nigerian international got injured and sidelined for two weeks after he suffered a muscle discomfort at Toulouse returned to action and pulled back a goal for Nantes five minutes from time to put some respectability to the away loss. His Nigerian national teammates Terem Moffi and Innocent Bonke

E U R O L E AG U E S WATC H featured for Lorient but failed to get on the scorers’ sheet. The loss leaves Nantes 15th on the log with six points from seven matches, just one point above the drop zone. Elsewhere in Europe, another Nigerian international, Sadiq Umar, was injured in the 33rd minute in his club Real Sociedad’s away fixture at Getafe on Sunday evening. He was replaced by Mohammed Ali-Cho after the match was delayed for some minutes. Club sources said Sadiq’s Injury was a

minor knee knock. Sociedad however lost the game to Getafe with a 25-metre last kick by Enes Unal to earn the hosts maximum points. In the Spanish second tier Segunda 2, fringe Super Eagles midfielder, Kelechi Nwakali was also on target for Ponferradina as they lost 1-2 at home to Real Zaragoza. Nwakali scored the equalizer but was not enough to earn his club the spoil of the day as Zaragoza netted the winner before regulation time.

Rivers Utd, Kwara Utd in Flying Starts to Continental Campaigns Remo Stars impressive in away draw with AS FAR Nigeria’s representatives in CAF’s Champions League and the Confederation Cup, Rivers United and Kwara United kicked off their campaigns in brilliant forms last night with massive wins. In Port Harcourt, three goals inside the first 45 minutes gave the Pride of Rivers people victory over Watanga FC of Liberia at the Adokiye Amiesimaka Stadium. Kenechukwu Agu scored on his debut for United. Stanley Eguma’s men came into Sunday’s CAF Champions League preliminary round 1st leg encounter on the back of what many judged to be a not too impressive preseason build up. However, Rivers United tore Watanga FC apart with two early goals in the space of 10 minutes, a bullet from Kenechukwu Agu and a cool finish by dependable left back Ebube Duru, with Paul Acquah heading home a superb third to put the game to bed in the first 45 minutes. Watanga FC improved in the second half, but it was too little too late. The impressive victory gives Rivers United a first leg advantage and will now seek to seal qualification to the next round in Monrovia, Liberia on Sunday September 18. Elsewhere in Lagos, Kwara United were also one leg into the next round of the CAF

CA F C L & C O N F E D C U P Confederations Cup preliminaries after their first leg resounding 3-0 triumph against Nigerien clubside, Douanes Niamey at the Mobolaji Johnson Arena at Onikan. The Afonja Warriors got their three goals in the first half as Paul Samson score the opener in the fifth minute before Wasiu Jimoh extended the lead for the Harmony Boys from the penalty spot in the 17th minute. Kwara who chose Lagos as their home ground began the match on the front foot, dominating the early proceedings with crisp passes and purposeful play. Their dominance soon paid off when a shot from the right spilled off the hands of the Nigerien goalkeeper and Samson Paul had a simple tap in for the host’s opener in the 5th minute. Jimoh then scored from the spot in the 16th minute to double United’s tally. His third was a blistering shot after a beautiful combination with his team mates in the 41st minute. Kwara United will take a threegoal lead to the return leg. The reversed leg is slated to take place in Niger Republic on September 17, 2022 with the winner facing holders, RS Berkane of Morocco in the next round. Remo Stars of Ikenne also fought

back gallantly to earn a decent 1-1 away draw against AS FAR in Morocco. Olamilekan equalized for Remo in the 50th after earlier conceding in the 28th minutes to the hosts.

Moses Simon...back from injury with a bang

BOWFT: Edo Queens Battle Ready for Heartland in Today’s Q’final Nasarawa FC to tackle Naija Ratels in another last eight clash Edo Queens will today face Heartland Ladies of Owerri in one of the quarterfinal matches of the Betsy Obaseki Women Football Tournament (BOWFT). The two teams are among those that secured spots in the quarterfinals of the annual tournament taking place in Benin City between September 7, 2022 and September 17, 2022. Others still in battle for preseason glory at the tournament include; Royal Queens, FC Robo, Confluence Queens, Delta Queens, Heartland Queens and Sunshine Queens. The high-flying Edo Queens had led Group B with 6 points to qualify for the quarter finals, while

Heartland FC came second in Group D of the tournament with 3 points. The much-anticipated match will be played at the University of Benin Sports Complex at 1pm. In other fixtures for the quarter finals on Monday, Nasarawa Amazons FC will clash with Naija Ratels FC at the Uniben Sports Complex by 10am. Nasarawa Amazon Football Club also sailed through to the next stage of the keenly contested tournament with six points after defeating Braveheart ladies with a whooping 10-1 score line. At the Western Boys High School Mini-Stadium in Ikpoba-Okha Local Government Area of Edo State,

Confluence Queens FC will lock horns with FC Robo by 10am, while Delta Queens will confront Royal Queens FC by 1pm. Declaring the tournament open on Thursday, facilitator of the tournament and Edo First Lady, Mrs. Betsy Obaseki said this year's edition is aimed at complementing the government’s efforts in reducing the incidence of drug abuse in the state. According to her, “While we had 12 participating teams last year, this year, we have 13 teams competing in the tournament. We will continue to grow and ensure that the vision of the tournament which is checking social vices among

Nigeria’s U19 Boys Retain African Title in Morocco

Nigeria U19 Boys Volleyball Players and FIVB Referee, Shebba Jeﬀerson at the just concluded U19 Boys African Nations Volleyball Championship in Morocco

Nigeria’s boys team, have won back-to-back the U19 Boys Africa Nations Volleyball Championship. They pummeled Egypt 3-0 (25-20, 25-18, 31-29) at the just concluded 2022 U19 Boys African Nations Volleyball Championship in Morocco yesterday. Nigeria dictated the pace in the beginning of the first set as they led Egypt by 8-3 points before the Egyptians closed the gap; the Eaglets finally got their mojo back, winning by 25-20. Nigeria resumed the second set on a high note beating Egypt by 25-18. The Egyptian began the third set on a high spirit, taking points alongside the Nigerian team. Both teams took points from 25 to 25 before Nigeria eventually won 31 -29.

VOLLEYBALL The Head Coach of Nigeria U19 Boys Team, Adekalu Adeniyi praised the relentless efforts of the players against Egypt. Adeniyi said the boys played according to instructions from the first to the third set. He dedicated the trophy to God and the Nigeria Volleyball community. An elated Adeniyi said, "Today is the happiest day of my life in 2022 because Nigeria retained the trophy we won in 2020. The players played according to the game plan from the blast of the whistle and never complained whenever they lost points. "The players have shown greatness from the first day of

the championship and exhibited a high level of discipline during the course of play. "I want to thank God Almighty for the opportunity given to me as the Head Coach to win the U19 African Nations Volleyball Championship again. For record purposes, I and Coach Sani Mohammed won the 2018 African Youth Games title, emerged Champions of the 2020 U19 Boys African Nations Volleyball Championship held in Nigeria (as assistant coach); now I am lifting the trophy as the Head Coach. "I want to also appreciate the Nigeria Volleyball Federation led by Engineer Musa Nimrod for their tremendous support to the success of the team as well as every Nigerian".

youths, especially the girl-child is realised.” Meanwhile, Royaltoms Football Club of Lagos, Braveheart Ladies FC and Fortress Ladies FC of Benin have been presented with consolation prizes after they crashed out at the group stage of the tournament. Presenting a cheque of N500, 000 each to the teams, the Permanent Secretary, Edo State Sports Commission, Mrs. Sabina Chikere commended the efforts of the teams and urged the players not to relent in their careers.

Akpeyi Switches Club in South Africa Super Eagles goalkeeper, Daniel Akpeyi, has signed a year’s contract as a free agent with South African club, Sekhukhune United. Akpeyi, 36, was released by Kaizer Chiefs at the end of last season when his contract ran out. Interestingly, the last PSL game the goalkeeper featured was against Sekhukhune on May 14, 2022. Akpeyi played 69 matches for Chiefs and even started the CAF Champions League Final against Al Ahly last year July. Former Super Eagles goalkeeper, Greg Etafia, was Akpeyi’s trainer during his search for a new club. Chippa United and Swallows were also linked with Akpeyi, but backed down over financial demands from the Nigerian goalkeeper.

Monday, September 12, 2022

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MISSILE INEC Chairman to Hackers

“Another technical concern for us is the repeated attempts to break through our cyber security system for the Result Viewing Portal. I am glad to note that all of them failed. However, while we are conﬁdent in the security solutions that we have deployed for IReV and all our web presence, we must remain vigilant and continue to strengthen our defences” – INEC Chairman, Mahmood Yakubu, revealing the futile attempt by hackers to attack the IReV portal during Ekiti, Osun polls.

MAHMUDJEGA VIEW FROM THE GALLERY

Waiting 70 Years for Throne W

aiting four weeks to see a bank alert for your monthly salary is trying enough for a Nigerian. Some people who are waiting for thrones in Nigeria, and they are not even official heirs apparent, are daily praying to God to “limit the waiting time.” So imagine a man who waited patiently for seventy years to inherit a throne once described as “the classiest preserve of royal pomp and privilege left on earth.” Charles was not exactly destitute because as Prince of Wales, he lived on a stately 3,000-acre home in Kent. He himself once called it “the most desirable bachelor pad in Europe.” He must be sad at his mother’s death but no one could be unhappy to move into Buckingham Palace, which has 52 royal and guest bedrooms, 188 staff bedrooms, 92 offices and 78 bathrooms. A story I read 30 years ago said Queen Elizabeth had more than 700 staffers in Buck House including beauticians, hair dressers, horsemen, butlers, maids, chefs and people whose duty it is to walk her Corgi dogs around the palace. Not everyone in Britain is happy with that lavish privilege. One day in the 1980s when the Civil List [i.e. Buckingham Palace’s budget] was tabled in the House of Commons, a left-wing Labour MP, a former coal miner, listened attentively as 12 million pounds was voted as the Queen’s salary and 5 million pounds for Prince of Wales. When 3 million pounds was voted as salary for Queen’s husband the Duke of Edinburgh, the MP said, “You want to pay him 3 million pounds just to kiss and cuddle the Queen?” Three years ago, Emperor Akihito of Japan abdicated his Chrysanthemum Throne for his son, Naruhito. Queen Elizabeth did no such thing. Charles was declared Prince of Wales and Heir Apparent in 1952 when his mother became Queen and he waited all these years for the throne to become vacant. If it is here in Nigeria, he would probably never get to taste it. Former President Olusegun Obasanjo once said that in Africa, if anyone is anointed as Crown Prince, rivals will ensure that he dies before the King. There was this story last week that 86 princes are jostling to occupy the Alaafin of Oyo’s stool. In contrast, no one jostled with Charles last Saturday when the Accession Council met and the Garter King of Arms proclaimed him as King Charles III. Unlike some people I know around here, Charles made very good use of his 70 year wait. Sometime in 1978, Time magazine did a cover story on him which I read as a schoolboy. It was titled A Most Uncommon Bloke. I no longer have a copy, but can recall some of the things said in that story. Prince Charles Phillip Arthur George Mountbatten Windsor was nearly 30 years old at the time and had already been waiting for the throne for 26 years.

King Charles III

He was to wait another 44 years until last Thursday when his mother Queen Elizabeth II died at the very ripe age of 96. In her 70 years on the throne, the Queen saw 15 UK Prime Ministers, 14 US Presidents and seven Popes. Charles’ best known title was Prince of Wales but the Time magazine story listed his other titles to include Duke of Cornwall and Rothesay, Earl of Chester and Carrick, Baron of Renfrew, Lord of the Isles and Great Steward of Scotland. Phew! It is like being Ciroma, Galadima, Talba, Turaki and Madawaki of Kano all at once. The story said, “If Charles Philip Arthur George Mountbatten-Windsor did not exist, who could invent him? Consider. He can pilot a jet fighter and knows enough about helicopters even to help repair them. He has skippered a Royal Navy minesweeper through North Atlantic gales… He plays an aggressive, three-plus-handicap game of polo and is a qualified paratrooper. He is a gifted amateur cellist… He has scuba-dived in the Caribbean, skied down the Alps, sambaed into the night with Brazilian beauties. A keen student of history, he can discourse persuasively on the neglected virtues of his ancestor King George III, and is host and interviewer on a TV series on anthropology.” Charles was the first member of the British royal family ever to earn a university degree. He attained senior ranks in the Royal Army, Navy and Air Force, was an Honorary Colonel of 80 Regiments and was Patron of 500 clubs, associations and charities. On the downside, he was widely described as aloof and cold. In 1992, when Princess Diana listened to another woman’s story of grief in a TV interview and said, “I can understand how you feel,” a British TV analyst said

“Hell will freeze over” before Charles ever showed empathy with anyone. That was probably an exaggeration, because Charles made some humorous remarks in his life. Such as, when announcing the results of the Queen’s Silver Jubilee Appeal fund in 1978, he said his mission was “to drag a certain amount of money screaming out of everybody’s pockets.” When he was asked if the charity programs would do something for Britain’s notorious football hooligans, Charles said, “We have not had a group identifying themselves as football hooligans apply by that name…” BBC television once showed him having lunch with a homeless former classmate. When they emerged from the restaurant, the report said “Prince Charles hopped into his car and returned to the palace while his lunch guest returned to the street.” If it is in Nigeria, people will say, “Why didn’t he dash him a house?” King Charles has inherited all Her Late Majesty’s titles. She was officially known as “Her Imperial Majesty Elizabeth Alice Louis, by the grace of God Queen of the United Kingdom of Great Britain and Northern Ireland, Queen of Canada, Australia, New Zealand, Her Other Realms and Territories and of the British Dominions Beyond the Seas… Supreme Governor of the Church of England, Defender of the Faith, Head of the Commonwealth of Nations.” Only 62 years ago, Nigeria would have been counted among those realms. Another thirteen years before that, Queen Victoria’s favourite title, Empress of India, would have been added to the tally. The Empire is much whittled down now and Charles is the Head of State of only sixteen countries including Antigua and Barbuda, Bahamas, Belize, Jamaica, Papua New Guinea, Saint Christopher and Nevis, St Lucia, Solomon

Islands and Tuvalu. Still, when Queen Elizabeth visited Nigeria for the second and, as it turned out, the last time in 2003, many people in Nigeria did not even know she was here. I was in Kaduna that day and an NTA Kaduna reporter went to the Central Market and asked a row of market women selling gari and crayfish what they thought of the Queen’s visit. One market woman asked, “Queen? Which Queen? She come Nigeria here? Ok, she is welcome.” Compare that to 1956, when the Queen first visited Nigeria. Even though I was not there, but from stories we heard from our elders, what we read in old magazines, songs made by old timers and films made by the Northern Nigeria Ministry of Information, practically no one in Nigeria would not have known of her visit. Traditional rulers from all the emirates and chiefdoms of the North converged in Kaduna and staged a durbar with hundreds of colourfully attired horses. The horsemen were in Kaduna for one month before the main event, rehearsing. In 2003 we had an interview with Ali Sarkin Mota, who drove the Queen around Kaduna during her 1956 visit. He described her as a kind and cheerful young woman who was always smiling and waving. He also said her gown filled the entire back seat of the limo. In the wake of the Queen’s death, USbased Nigerian professor Uja Anya as well as a UK-based female Iraqi journalist made unflattering comments about her and the sordid history of British imperialism. In 1956 when we were doing that durbar here and schoolchildren were waving the Union Jack and chanting “God save the Queen,” Sir Bryan Sherwood-Smith, the British colonial Governor of Northern Nigeria, was riding roughshod over us. He was so restless that he was nicknamed Mai Wandon Karfe, i.e. “the one with iron trousers” because he was thought to be incapable of sitting down. That was even the placid face because by then the end of colonial rule was in sight. Over the centuries, imperial wars of conquest, trans-Atlantic slave trade, plunder of resources and many other atrocities were committed in the name of the British Crown. How much of these we could personally blame on Elizabeth, I don’t know. The Iraqi journalist mentioned the death of a million Iraqis following the 2003 invasion and the prominent role Britain played in it. That was mostly the doing of then Prime Minister Tony “B-Liar” Blair. Even though he was Her Majesty’s Prime Minister, we do not know if, behind the scenes, the Queen admonished him during their weekly private audience. Only last week, I threw sand into the Russian gari by saying I was not a fan of the late Mikhail Gorbachev. I do not want to again throw sand into the British gari, lest I become a serial sand thrower.

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