MONDAY 11TH JANUARY 2021 by THISDAY Newspapers Ltd

FG, Discos Miss Meter Installation Target Only 16,000 of over 1m devices installed Enugu, Benin, Ibadan, Yola Discos yet to begin deployment Emmanuel Addeh in Abuja The pact between the federal government and the power Distribution Companies (Discos) to supply and install

one million meters between last October and December did not come close to hitting target, as only 16,308 of the projected installations, representing 1.6 per cent, was done at the end

of November. Latest figures from the Nigerian Electricity Regulatory Commission (NERC), the sector’s regulator, obtained by THISDAY and released

under a table tagged: “Analysis of meter deployment across electricity distribution companies, showed that in November, Enugu, Benin, Ibadan and Yola Discos were

yet to begin deployment as of the time the data was released. With the current installation pace of about 8,000 per month, it will take at least 10 years to complete the first phase of

the one million meters, in an industry that has a deficit of over 10 million meters. In October, the federal Continued on page 10

Analysts: More Banks to Adopt HoldCo Structure to Diversify Earnings... Page 8 Monday 11 January, 2021 Vol 25. No 9409. Price: N250

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Will Buhari Surprise Nigerians with Southern Police Chief? IG's supporters lobby for tenure extension Other aspirants jostle to succeed Adamu in February Disquiet in NDLEA over chairman’s term limit Kingsley Nwezeh in Abuja As top police officers intensified their lobbying to succeed the Inspector General of Police, Mohammed Adamu, who is billed to retire in February, analysts are wondering if President Muhammadu Buhari will buck the trend by picking a Southerner as his successor.

The analysts, who spoke to THISDAY at the weekend, expressed concerns about the possibility of the president picking another Northerner to succeed Adamu, expected to retire on February 1 having spent 35 years in service, despite the clamour by Nigerians that Buhari Continued on page 10

Osinbajo Rallies Nigerians to Commit to National Unity Pays tribute to fallen military heroes, heroines Deji Elumoye in Abuja Vice President Yemi Osinbajo has emphasised the need for Nigeria to remain an indivisible entity despite the differences in religion, ethnicity, political affiliations, or other diversities among the citizenry. Osinbajo, according to a statement by his media aide,

Laolu Akande, spoke yesterday at an inter-denominational church service to mark this year's Armed Forces Remembrance Day celebration. He urged Nigerians, both home and in diaspora, to be committed to ensuring Nigeria’s unity, saying the Continued on page 10

BEHOLD OHANAEZE NEW PRESIDENT... L-R: President General-elect of Ohanaeze Ndigbo, Professor George Obiozor; Igbo leader, Chief Immanuel Iwanyanwu and Abia State Governor, Dr. Okezie Ikpeazu, celebrating Obiozor on his victory in an election to pick a new executive council for the socio-cultural group, in Owerri…yesterday

South-east Govs Pledge Support for Ohanaeze New President, Obiozor...Page 5

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

South-east Govs Pledge Support for Ohanaeze New President, Obiozor

Amby Uneze in Owerri

Governors of the South-east states yesterday pledged to work with the new President General of Ohanaeze Ndigbo, the Igbo apex socio-political organisation, Prof. George Obiozor. Obiozor emerged victorious after defeating two other contestants in the election held yesterday in Owerri. Obiozor, a former Ambassador to the United States and Israel, polled a total of 304 votes to defeat Chief Valentine Oparaocha who scored a total of 15 votes and Chief Uju Savior Okoro who had three votes. However, the position of Deputy President General was won unopposed by Obi Wali of Rivers State while Okey Emuchay from Abia State emerged the secretary-general after garnering 265 votes to defeat his rivals. Also, Eze Beatrice from Ebonyi State emerged the national treasurer; Batholomew Okorie, financial secretary; Alex Ogbonna, national publicity secretary while Ojogu Joseph Obinama is now the national legal adviser. Speaking on behalf of the South-east Governors’ Forum before the commencement of voting, Chairman of the forum and Governor of Ebonyi State, Mr. Dave Umahi, commended the outgoing President General, Nnia Nwodo, for conducting

a successful election in spite of the efforts of the Igbo detractors. Umahi stated that Southeast governors endorsed the process and would stand by the outcome of the election. He tasked the incoming executive to continue to let the same spirit of love for Ndigbo continue. The governor added that they should continue to fight for the unity of Nigeria as that according to him, will benefit Ndigbo more. He lamented that South-east governors have been singled out for castigation because "we've always supported the unity of this country. But one thing we hold very dear is our love for Ndigbo. That comes first before political party. We don't care what people say about that." Imo State Governor, Hope Uzodimma, thanked Southeast governors for playing an important role in the unity of the people. He described the electoral process and its outcome as "a new order, a new rapprochement, a new attitude and a new Igboness. "My happiness is because Igbos are together against the wishes of some people who don't wish us well. "We've always come first in everything. Why we are behind is because the spirit I'm seeing here today was absent. We must go back to

history to find our roots," Uzodimma added. Nwodo thanked Ndigbo worldwide for the support given to his executive and urged them to give same to the incoming executive. He described the absence of those who were trying to destroy the organisation as people who did not mean

well for Ndigbo. He called on "our dissenting brothers to please sheathe your swords and come back to the family." Among the prominent Igbo leaders who were present at the election were Senator Sam Egwu; Minister of Science and Technology, Dr. Ogbonnaya Onu; Chief

Emmanuel Iwuanyanwu, Chief Simeon Okeke, Prof. ABC Nwosu, Senator Ben Obi, former governor of Imo State, Dr. Ikedi Ohakim; former Minister of Foreign Affairs (State), Chief Dubem Onyia. Others were Deputy National President General, Chief Hilary Opara, Chief Chekwas Okorie, Minister

of Labour, Chris Ngige, HRM, Obi of Onitsha, Alfred Nnaemeka Anichebe; Anglican Archbishop of Enugu, Archbishop Emmanuel Chukuma; Minister of State Mine and Development, Uche Ogar; former Governor of the old Anambra State, Chief Okwesilieze Nwodo and Senator Andy Uba.

HONOURING FALLEN HEROES... L-R: Secretary to the Government of the Federation, Mr. Boss Mustpha; Chief of Defence Staﬀ, Gen. Gabriel Olonisakin and Chief of the Naval Staﬀ, Vice Admiral Ibok-Ete Ibas, during an inter-denominational church service marking the 2021 Armed Forces Remembrance Day, in Abuja...yesterday

Dangote to Leverage Expansion, New Trade Routes under AfCFTA Dangote Industries Ltd has expressed optimism that its cement expansion plan and fertiliser investments will open new trade routes for the company and Nigeria under the African Continental Free Trade Area (AfCFTA) that kicked off on January 1. Already, the cement company, despite an installed capacity of 29.3Mta in Nigeria, is targeting an expanded entity in-country and in Cameroon, while new plants will soon be ready for inauguration in Niger, Benin, Ghana, Cote d'Ivoire and Togo. The conglomerate, in a statement at the weekend, quoted the President/Chief Executive, Dangote Industries Ltd, Alhaji Aliko Dangote, as saying that Africa needs to deliberately improve its per capita consumption of cement in order to aid infrastructural development by stimulating further demand and forcing down the cost of the commodity. With the United Nations Conference on Trade and Development (UNCTAD) report for 2020 clearly stating that for the Africa Free Trade Area to work, the deficit in infrastructure should be looked into, Dangote is hoping to leverage the deficit with his cement investment in the continent. For Dangote Industries Ltd, moving goods like cement by

road from Nigeria where they are manufactured to Ghana, where there is a big market, is “unviable”, hence the need for new plants that will open multiple trade routes. Group Executive Director of Dangote Industries Limited, Devakumar Edwin, had earlier explained that the movement of products via road is expensive as the governments of Togo and Benin complained of the pollution that the trucks will bring to the environment as well as the toll on the roads. With the success of the Doula plant in Cameroon, the company is already doubling its capacity in Yaoundé and targeting three million tonnes in the country to check competition as well as earn foreign exchange. Last year, Dangote Cement’s pan-African performance was strong for all its operations in terms of margin in local currency with a few exceptions due to COVID-19. As the restrictions in many economies are lifted, the company is hopeful of improved performance and earnings. In 2011, Dangote had announced plans to invest $100 million to build a cement factory in Cameroon, in a move that would come to check monopoly and impact the economy of the country. Dangote, however, described the plant as “our

largest Greenfield project in a neighbouring country with which we not only share a boundary, but also a long history of brotherly relationship dating from our colonial days. Owing to the rich culture and history that we share, we have a better understanding of Cameroon.” He said: “Our desire to increase our investment with the phase two project is based on not only the fast growth rate of the Cameroonian economy, but also due to the warm welcome extended to us and the enabling environment created by the government of Cameroon. “Our choice of Cameroon for this multi-million-dollar investment is quite strategic. Cameroon is the largest economy in Central Africa and is well endowed with abundant natural resources. The country also enjoys political stability, adequate security and growing infrastructural development. In addition, President Biya has created an enabling environment that has continued to attract investors both from within and outside the African continent.” According to him, the desire to ensure that Africa becomes self-sufficient in cement production informed the signing of a $4.34 billion contract with Sinoma International Engineering

Company Limited, a Chinese construction giant, for the construction of 11 new cement plants in 10 African countries, and Nepal in Asia. Pioneer Country Manager, Dangote Cement Cameroon SA, Abdullahi Baba, stated that the journey in the last five years has been excellent, noting that it is not easy to oversee a project from the drawing table until full actualisation. “We came in and the market was already satisfied but we brought out high quality products at affordable prices. We are so proud at the way we have been received both by the government and the people of Cameroon and I want to say that as at today, we have become the household name and we have come to stay in the entire country. “There are so many high points for the company. The first was that we came into Cameroon with the best technology available in the industry anywhere in the world. The other was that we introduced products that were the trailblazer in Cameroon as at that time because our quality was up there.” He, however, noted that though competition has been coming up fast in the country, the firm is not relenting. “We are doing everything we can to ensure that we maintain this position, but

the key thing is the market share, the profitability and the maximising of the use of local raw materials in the production of cement. “As we continue to work on volume increase and cost reduction, our current programme of alternative fuel system for all of our plants will equally change the game. By leveraging alternative energy, we hope to bring down our cost as much as possible considering that cement production is a high-energy intensive activity,” he added. Cameroonian Minister of Mines, Industry and Technological Development, Gabriel Dodo Ndocke, stated that since Dangote Cement was established in Cameroon, accessibility to cement product, the price and the quality has been enhanced, adding that the impact of the company on the economy is huge. “Today, you can get cement everywhere and the price is accessible for everyone and the market has been opened to other investors creating job opportunities. Dangote has thrown the market open and before he came to Cameroon, our market was with just one investor in the sector. The presence of other investors has made it easy for us to get cement in a good quality and at an accessible price, ” he stated.

The firm’s Country Manager, Bertrand Thaïs Mbouck, said the cement company is completing a period of induction, going by the sustainable approach towards growth. “How I see our company is like a 20 to 25 years’ sustainable growth agenda. We have to ensure that our strategy is properly drawn and implemented by doubling our commitment, involvement, improving our attitude and everything we are doing. In essence, we are focusing on efficiency, performance and the right attitude in everything we do. “What has really surprised us in this pandemic is that in comparison with other industries, the cement industry in Cameroon has been improving with positive outcome. We tend to see growth in demand for our product compared to other industries. “What we have realised in this pandemic, people have focused on some important investments in their life like building a house, as they are not travelling like they used to do. Our team also gave us an additional edge compared to competition. Our workforce has been intensively tracing the customers, tracing the point of sale and that has given us an edge in the market,” he said.

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Analysts: More Banks to Adopt HoldCo Structure to Diversify Earnings Obinna Chima Analysts have predicted that more commercial banks will soon convert to a holding company (HoldCo) structure as they seek to diversify their revenue and remain competitive in the financial market. The analysts who spoke in separate interviews with THISDAY, also attributed the recent decision by some banks to change to holdco structure to the Central Bank of Nigeria’s (CBN) restrictive policies. Until recently, FBN Holdings, Stanbic IBTC Holdings and FCMB Group, were the three financial institutions operating a holdco structure. But the central bank recently granted approval to Guaranty Trust Bank, Sterling Bank and Access Bank Plc, to convert their operations to holdco. A holdco is a company set up for the purpose of making and managing (for its own account) equity investment in two or more companies, being its subsidiaries, engaged in the provision of financial services, one of which must be a bank. The Head of Financial Institutions Ratings, Agusto & Co, Mr. Ayokunle Olubunmi, anticipated that more banks would be applying for holdco licence “once they see that those that have gotten approval are doing well.” “Also, if the present tight monetary policy regime continues, most banks would start considering adopting holdco structure. The beauty is that you don’t have anything to lose because there are lots of opportunities in the financial system and the banks have the resources. “I see more banks up scaling some of their subsidiaries and going into holdco in the medium term. Even if you look at the global banks, a lot of them

are gradually diversifying into non-core banking business,” Olubunmi said. According to him, with the way the CBN regulation is going, the income banks get based on their traditional banking licence is getting limited. Moreover, the industry has become more competitive as more banks are being licensed, he added. “Even the lending business, we have a lot of microfinance banks getting into it. The tight monetary policy regime such as the loan-to-deposit ratio (LDR) and others, restrict the kind of businesses that they can do. “Even the merchant banks, the kind of businesses they can do are restricted. “But if you now have

a holdco structure, it enables you to venture into non-traditional banking businesses such as insurance, asset finance, among others,” he said. He recalled that during the universal banking era, the banks were able to generate revenue from other non-core banking business, saying the benefits they reaped from them is primarily what is driving it. “For example, based on the experience that GTBank had in their electronic banking business, they realised that there are lots of opportunities in the switching business; even in assets management, which is one of the reasons the bank is going for the holdCo structure.

“Also remember that another major advantage that banks have is that they have national spread. For instance, a bank that is diversifying into insurance doesn’t need to be worried about how to reach your customers. Obviously, since they have enough capital, they can attract the right talent,” he stated. On his part, the Head of Research, United Capital, Wale Olusi, who anticipated that more banks would be adopting holdco structure, said: “I think they are trying to move in line with changes in the sector. Most of them want to do fintech, asset management, among others. “The CBN regulation is a lot and so they are trying

to get other businesses that can help them weather the storm. They have the option and some of them have taken it. They can also decide not to do again in the future.” The Chief Executive Officer, Sterling Bank Plc, Mr. Abubakar Suleiman, had said the bank’s desire to operate as a holdco was driven by its plan to spin off its non-interest banking window, which became operational in January 2014 into an autonomous entity. He had said the bank believed the structure would incorporate efficiencies around operations and financing efforts to support the individual businesses in reaching full potential through increased portfolio

diversification and improved efficiency among others. On his part, GMD/CEO Access Bank, Mr. Herbert Wigwe, had said the bank was focused on building the scale needed to become a leading African bank, adding that the move to holdco demonstrates further commitment to delivering “our strategic aspirations of becoming Africa’s gateway to the world in line with our vision to be the world’s most respected African bank.” Guaranty Trust Bank had anticipated that the holdco would have greater strategic flexibility to adapt to future business opportunities as well as market and regulatory changes that is currently the case.

REMEMBERING THEIR SACRIFICES... L-R: Former President Olusegun Obasanjo; Speaker, Ogun State House of Assembly, Rt. Hon Olakunle Oluomo; Chairman, Nigerian Legion, Ogun State chapter, Taofeek Oloyede and the state Chief Judge, Justice Mosunmola Dipeolu, at a church service heralding the 2021 Armed Forces Remembrance Day, in Abeokuta...yesterday

Military Reports Killing of 50 Bandits in Zamfara, 28 Insurgents in Yobe Kingsley Nwezeh in Abuja and Michael Olugbode in Maiduguri Troops of Operation Hadarin Daji at the weekend eliminated 50 armed bandits in Kaura Namoda Local Government Area of Zamfara State, the military has said. The onslaught against the bandits comes as the Governor of Yobe State, Mai Mala Buni, commended the military over the gallantry displayed in repelling Boko Haram fighters who attacked Gujba on Saturday. A military update issued by the Directorate of Defence Media Operations (DDMO) said following intelligence, the troops, with close air support, engaged bandits in a gun battle at Kuriya village.

"In the course of the encounter, several bandits were killed in action while four soldiers sustained injuries. Human intelligence confirmed that no fewer than 50 armed bandits were killed in the encounter. "Equally, troops recovered 272 livestock from the bandits," it said. Also, troops deployed in Dunya village of Danmusa Local Government Area of Katsina State, while on routine patrol recovered 62 livestock from armed bandits who fled into the bush on sighting them. "Currently, the gallant troops have continued to dominate the theatre of operation with aggressive patrols to deny criminals freedom of action. "The military high command commends the

gallant troops for the feats recorded and encouraged them not rest on their oars until normalcy is restored to all troubled zones of the country," it stated. Meanwhile, Buni has commended the military for repelling the Boko Haram attack on Gujba on Saturday. He said the determination of the security forces in pursuing the insurgents was successful and would change the narratives in the fight against insurgency. "The resilience and gallantry of the military is highly commendable and must be appreciated to spur them to do more," he said. The governor called on Nigerians to support the security operatives in view of the security challenges in the country. Buni assured the troops

of the support of the government and people of Yobe State in combating insurgency. "The government will continue to provide the necessary support for us to have peace in the state" he said. He called on the people to provide information to government on suspicious movements in their communities.

28 Insurgents Killed in Yobe Clash The military also gave an update on the clash with Boko Haram in Gujba, Yobe State, saying 28 insurgents were killed and others injured in the gun battle. A statement yesterday by Acting Director, Defence Media Operations, Brigadier

General Benard Onyeuko, said troops of the newlylaunched Operation Tura Takaibango, a subsidiary of Operation Lafiya Dole, a military counter-insurgency operation in the North-east, has continued to obliterate elements of Boko Haram/ Islamic State's West Africa Province criminals with uncommon ferocity. Onyeuko said: “The latest encounter with the marauding Boko Haram criminals occurred on 9 January, 2021 at Gujba Local Government Area of Yobe State where the gallant troops identified and encycled a Boko Haram criminals ambush site. “The troops from HQ Sector 2 who were led by the Commander Sector 2 and later reinforced by troops from 27 TF Bde Buni

Gari and Special Forces Training School Buni Yadi, tactically outmanouevered the criminals and engaged them with superior fire power resulting in high casualty on the terrorists. “In the aftermath of the decisive encounter, 28 Boko Haram terrorists were neutralised while few others are believed to have escaped with gunshot wounds.” He added that one Boko Haram gun truck was destroyed with its occupants and another gun truck captured . He listed other equipment captured from the insurgents to include two anti-aircraft guns, 13 AK-47 rifles, four extra magazines and a vulcanizing machine. He, however, said a soldier was killed and another one wounded.

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PAGE TEN WILL BUHARI SURPRISE NIGERIANS WITH SOUTHERN POLICE CHIEF? should end the domination of Northerners as heads of the nation's military, paramilitary and security agencies. Adamu's impending retirement has triggered a simmering succession battle in the police as those eyeing the post have been lobbying the presidency, traditional rulers and tribal unions to press for their emergence. Besides, THISDAY also gathered that supporters of the outgoing IG are also lobbying for a tenure extension for him. A top official in the presidency also confided in THISDAY at the weekend that the federal government is considering a one-year tenure extension for Adamu. The succession lobby is coming as some protesting senior officers of the National Drug Law Enforcement Agency (NDLEA) have accused the Chairman of the agency, Col. Mustapha Abdallah (rtd), of flouting the directive of the Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami, to hand over after the expiration of his tenure. His tenure expired January 10, 2021 and he was expected to have handed over last Friday. Except the Chief of Defence Staff, General Gabriel Olonisakin and Chief of Naval Staff, Vice Admiral Ibok-Ete Ekwe, all other service chiefs are Northerners just like the National Security Adviser (NSA). Also heads of the Department of State Service (DSS), National Intelligence Agency (NIA), the Economic

and Financial Crimes Commission (EFCC) as well as paramilitary service such as the Nigeria Customs Service, Nigerian Immigration Service, Comptroller-General, Nigeria Correctional Service, Nigerian Security and Civil Defence Corps are from the North. The Northerner domination of the leadership has triggered the clamour for the dilution of the leadership of the agencies with candidates from the South. Going by the provisions of the Police Act that Buhari signed into law last year, whoever is to be picked as Adamu's successor must have at least four more years before retirement. Based on this, while Adamu is likely to retire with some Deputy Inspectors General of Police (DIGs) and Assistant Inspectors General of Police (AIGs), his successor is likely to be from the rank of AIG. Of this group of officers, only three have a 2025 retirement date or above. They are Dasuki Danbappa Galadanchi and Hafiz Mohammed Inuwa. The other officer, who is the only Southerner in that cadre, is Moses Ambakina Jitoboh, from Bayelsa State, who heads Border Patrol unit. Jitoboh, a former security aide to former President Goodluck Jonathan, is said to be due for retirement in 2029, having joined the police in 1994. However, amidst the jostling, the source told THISDAY that government is considering a one-year extension for the IG to enable him to conclude the ongoing police reforms,

especially in the aftermath of the #EndSARS protests. The presidency is said to be considering the tenure extension in recognition of the reform intiated by the IG, a former vice president of Interpol, as well his "mature" handling of the aftermath of the #EndSARS protests, hijacked by hoodlums, that resulted in low morale of personnel after 38 policemen were killed and police infrastructure destroyed. The source said: "Beyond the #EndSARS, the IG is being given another opportunity to help government conclude police reforms already in place. "The government is with him on community policing and the collaboration with Interpol. More importantly, the government is happy with his mature handling of the post#EndSARS challenges, the low morale of personnel, which became a problem. He handled and motivated personnel in a satisfactory manner, including promotions in collaboration with PSC". "The IG is taking capacity building of personnel seriously and responded appropriately to demands made by Nigerians to scrap SARS. He did and set up SWATT and they are about to conclude training. "He is doing a lot and since he intiated some projects, more police mobile training schools have been opened while more officers have been sent to the National Institute of Police Studies (NIPS), executive training for DIGs, AIGs and CPs, and we believe that he should be able to take these programmes to a point before

exiting." On potential successors, he said: "Nobody is saying others are not capable; there are brilliant officers but this is the tentative position (of government) for now." The lobbying to succeed the IG has, however, intensified. An extension of the IG's tenure may, however, delay the full implementation of the Police Act 2020 with regards to the position and tenure of the IG. The Police Act was signed into law by President Muhammadu Buhari on September 17, 2020 and stipulated a four-year tenure for the next IG. Adamu is billed to retire February 1 alongside the Deputy Inspector General of Police in charge of Logistics and Supplies, Aminchi Baraya; the Deputy Inspector General of Police in charge of Directorate of Intelligence and former Chairman of the Economic and Financial Crimes Commission (EFCC), DIG Ibrahim Lamorde and DIG Nkpa Inakwu. So far, contenders for the position of IG include DIG Sanusi Lemu, DIG Usman Alkali Baba, DIG Dan-Mallam Mohammed, AIG Hafiz Inuwa, AIG Garba Umar and CP Dasuki Galadanchi. Buhari has maintained a policy of extending the tenure for military and security service chiefs, including permanent secretaries beyond their retirement age or number of years in service. Those whose tenure were extended beyond their statutory period of service include the

military service chiefs, heads of Immigration, correctional service and Nigerian Security and Civil Defence Corps, among others. However, a rights activist and Executive Director, Rule of Law And Accountability Advocacy Centre (RULAAC), Okechukwu Nwanguma, warned that extending Adamu's tenure will amount to a violation of the Police Act. He said: "If he (president) does that, he will be violating the Police Act. The truth is that this IG was already in place when the Act was passed so by age he should be due for retirement. "There is no position in law that permits the president to extend the tenure of the IG even though he has been illegally extending the tenure of military and paramilitary service chiefs. "If he does that, it will be purely based on political consideration. It will not be based on any law. I know the man is a man that does not have respect for due process and the rule of law. There is nothing he will do now that will surprise anybody. "If you ask me, I will advise him to respect the law for once and allow the law to prevail. Under the Police Act, as a matter of fact, it is not the duty of the president to appoint an IG. It is the duty of the Police Council, which includes the president, governors of the 36 states, the chairman of the Police Service Commission and the sitting IG. I believe that the Police Council should sit and advise him in accordance with the law. They should not allow him to exercise that power

unilaterally. Meanwhile, there is disquiet at the National Drug Law Enforcement Agency (NDLEA) as the embattled Chairman, Col. Muhammad Mustapha Abdallah, whose tenure elapsed yesterday has allegedly refused to hand over, insisting on continuing with a controversial recruitment in disregard of Malami's directive to hand over to the next senior personnel. A statement signed by Musa Ahmed Yusuf on behalf of Concerned Officers of NDLEA, called for a presidential intervention, describing the unfolding event as a show of shame and the height of official rascality. "This act of insubordination to lawful orders from the supervisory ministry over the agency is condemnable. Abdallah's tenure ended on Sunday, January 10, 2021 but he has vowed neither to hand over nor stay action on the recruitment process. "He made good his intentions with the release of money and deployment of officers to Jos over the weekend in preparation for the screening of candidates. "This is a democratic government that operates by the rule of law. Abdallah cannot be above the law. We urge Mr. President to allow the law takes its full course. If by today, January 11, 2021, Abdallah fails to hand over, he should be arrested, all agency property collected from him and the accusations of corruption against him investigated for necessary legal action."

the armed forces, adding that they "laid down their lives in peacekeeping operations on the continent and elsewhere, paid the ultimate price in the fight against the mindless terrorism in the North-east and in defending this land from other threats to security." "It is to the memories of these heroes and heroines that we pledge in the words of our national anthem: that “the labours of our heroes past shall never be in vain. That promise that their blood, spilled on the field of battle, will not be wasted, is the burden that we, the living, bear. And it

is an onerous one indeed,” he said. Osinbajo recalled the heroism of the late Ms. Tolulope Arotile, who made history in October 2019 when she was winged as Nigeria’s first female combat helicopter pilot in the 55 years history of the Nigerian Air Force. “Although her young life was cut short in very unfortunate circumstances, Tolulope lived her dream to join the Nigerian military and along with colleagues from all parts of this nation, to defend the territorial integrity, peace and security of this nation,"

he added. According to him, the nation will always be grateful and proud of the continuing commitment of its young men and women to serving in the armed forces. He said: “This occasion is also one where we celebrate, honour and pray for the families, relations and loved ones of our fallen heroes; those who daily bear the pain and deprivation of their absence. On behalf of Mr. President and the federal government, we once again extend our sincere condolences to you. We pray that the Lord will comfort you and uphold you daily.”

are obliged to achieve their metering targets as set by the commission under the new regulation." The order added that “customer classes shall be amended to ensure that customers only pay for meters when a meter is physically installed in their premises. “The electricity bill of customers provided with a meter under the new regulatory framework shall comprise two

(2) parts – energy charge and metering service charge. The payment of metering service charge will be removed from the customer electricity bill upon the full amortisation of the meter asset over its useful life. “All faulty meters are expected to be repaired or replaced free of charge within two working days, except in instances where it is established that the customer is responsible for the damaged meter,” the

2018 regulation noted. However, that regulation was implemented in the breach, even as thousands of Nigerians who paid upfront are yet to get their meters years after.

OSINBAJO RALLIES NIGERIANS TO COMMIT TO NATIONAL UNITY nation is stronger together than being apart. Osinbajo, who was represented at the church service by the Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha, said Nigerians “must at every opportunity insist that every great multi-ethnic and multireligious nation has, through thick and thin, fought to realise the great dividends of diversity and pluralism.” He reiterated the need for Nigerians to, as a mark of honour for the sacrifices of the men and women of the armed forces, show more

commitment to the unity of the nation and the task of building a better society. “The struggle to ensure a more perfect federation is a lifelong enterprise to which each generation must resolutely commit,” he added. While paying tribute to the departed men and women of the nation’s armed forces, he stated that their sacrifices embody ultimate patriotism as they laid down their lives in the line of duty. He said: “Drawn from all across the country, these brave men and women of the armed forces have made our nation

proud and their lives show us what it means to be patriots. Each one of them reminds us of the timeless words of our national pledge: “to be faithful, loyal and honest, to serve Nigeria with all our strength, to defend her unity and uphold her honour and glory.” Osinbajo noted that the departed heroes and heroines of the armed forces “fought to preserve the freedom of the nations of the world from totalitarianism in the First and Second World Wars; to keep our Nation and its people as one in the civil war." He also praised members of

FG, DISCOS MISS METER INSTALLATION TARGET government said it had begun the free supply and installation of meters in collaboration with Discos and local meter manufacturers and contractors to supply one million units to Nigerian homes by the end of 2020. Minister of Power, Mr. Sale Mamman, had announced that President Muhammadu Buhari under the National Mass Metering Programme (NMMP), had directed a mass metering scheme for the power sector, starting immediately that month. He said under the first phase of the initiative, the government would provide funds for Discos to roll out one million meters at no cost to consumers, adding that deployment had already started in Kano, Kaduna, Lagos and Abuja. With future phases of the metering initiative expected to meet 6.5 million deficit of meters nationwide and impact an estimated 30 million consumers, the federal government, while flagging off the programme, noted that the meters will be sourced from local manufacturers and incountry stock to create jobs. “We are committed to ending

estimated billing in all forms in Nigeria, and ensuring that Nigerians pay only for the electricity they consume,” Mamman had stated. But a quick check revealed that while four Discos were yet to start installation, Abuja Disco, which had contracted 101,186 units of the devices, has installed just 8,941 to date; Benin, with a share of 90,870, distributed none while Eko, with 79,178 has fixed only 52. Enugu, with a quota of 92,381, is yet to take off. Similarly, according to NERC data released at the weekend, Ibadan, with a quota of 103,997 has installed none; Ikeja, with an allocation of 106,701 has only installed 24 devices while Jos has only fixed 345 out of 88,538 units allocated to the Disco. In addition, Kaduna only installed 117 out of 86,957 meters; Kano fixed 11 out of its 87,747 ration; Port Harcourt did fairly by installing 6,818 out of its 77,070 contracted devices while Yola has not taken off. The one-million-meter-rollout programme, which is supported by the Central Bank of Nigeria (CBN), is targeted at closing the metering gap and saving Nigerians from exorbitant

estimated billing as well as enhancing the efficiency of revenue collection by the Discos. Before the latest federal government’s intervention, NERC had approved the Meter Asset Provider (MAP) regulation no. NERC/R/112), which became effective on April 3, 2018. But even the implementation of the programme is slow, according to the latest figures from the regulator, with none of the Discos hitting 20 per cent of the target in over three years. On the MAP platform, while Benin with an allocation of 573,776 has fixed 10,148 in over three years, Yola hasn't done any metering during that period while Jos installed 3,939 out of a ration of 500,000 units in those three years. Ikeja installed 165,081 out of 1.07 million meters under the scheme; Kaduna did just 7,418 out of 450,000 and Ibadan achieved 37, 714 out of 988,915 meters contracted to it. When the MAP regulation was issued in 2018, NERC, under the order, stated that “the electricity distribution companies, in line with their licensing terms and conditions,

CORRIGENDUM

It's Tunde Ayeni, Not Tayo Ayeni In our front page story yesterday with the headline: Ayeni Accuses Okunbo of stealing, Criminal Diversion of Millions of Dollars: We erroneously referred to Mr Tayo Ayeni as former Chairman of Skye Bank which gave the impression he was the person who dragged Captain Hosa Okunbo to the Economic and Financial Crimes Commission (EFCC). The author of the petition in question against Okunbo and Ocean Marine Solution Limited is actually Mr Tunde Ayeni, a former Chairman of Skye Bank, now Polaris Bank and NOT Mr Tayo Ayeni, the owner of SKYMIT Motors Ltd. For the avoidance of doubt, Mr Tayo Ayeni is unconnected to the raging controversy, allegations and counter allegations between the two business partners. We deeply regret the mix-up in the names and advise the general public to take note. Apologies to Mr Tayo Ayeni whose name was erroneously mentioned in story for any embarrassment the mix-up may have caused him. - Editor

TOP GAINERS BOCGASES TOTAL SEPLAT ARDOVA CHAMPBREW TOP LOSERS DANGCEM DEAPCAPITAL ROYALEXCHANGE

NGN NGN 1.15 12.65 13.00 143.00 45.10 496.10 1.45 16.35 0.09 1.02 NGN 19.90 225.00 0.01 0.22 0.01 0.23 UPL 0.03 1.25 CORNERSTONE 0.01 0.62 HPE Nestle Nig Plc ₦1,505.00 Volume: 333.311 million shares Value: N3.648 billion Deals: 5,143 As at yesterday 8/01/2021 See details on Page 37

% 10 10 10 9.7 9.6 % 8.1 4.3 4.1 2.3 1.5

MONDAY JANUARY 11, 2021 ˾ T H I S D AY

NEWS

SERAP Asks Buhari to Drop Plan to Borrow Dormant Account Balances, Unclaimed Dividends Udora Orizu in Abuja Socio-Economic Rights and Accountability Project (SERAP) has sent an open letter to President Muhammadu Buhari, urging him to promptly drop the plan by the federal government to borrow about N895bn of unclaimed dividends and funds in dormant accounts using the patently unconstitutional and illegal Finance Act, 2020 and to ensure full respect for Nigerians’ right to property. Recall that the Finance Act, signed into law by Buhari last December, would allow the government to borrow unclaimed dividends and dormant account balances owned by Nigerians in any bank in the country. But SERAP in a letter dated 9 January 2021 and signed by its Deputy Director, Kolawole Oluwadare, said borrowing unclaimed dividends and funds in dormant accounts amounts to an illegal expropriation, and would hurt poor and vulnerable Nigerians who continue to suffer under reduced public services, and ultimately lead to unsustainable levels of public debt. The letter, copied to Attorney General of the Federation, Abubakar Malami, and Minister of Finance, Budget and National Planning, Zainab Ahmed, read in part: ‘’Rather than pushing to borrow unclaimed dividends and funds in dormant accounts, your government ought to move swiftly

to cut the cost of governance, ensure review of jumbo salaries and allowances of all high-ranking political office holders, and address the systemic corruption in MDAs, as well as improve transparency and accountability in public spending.’’ ‘’The borrowing also seems to be discriminatory, as it excludes government’s owned official bank accounts, and may exclude the bank accounts of high-ranking government officials and politicians, thereby violating constitutional and international prohibition of discrimination against vulnerable groups, to allow everyone to fully enjoy their right to property and associated rights on equal terms.’’ ‘’SERAP is concerned that the government has also repeatedly failed and/or refused to ensure transparency and accountability in the spending of recovered stolen assets, and the loans so far obtained, which according to the Debt Management Office, currently stands at $31.98 billion.’ ‘’We would be grateful if your government would drop the decision to borrow unclaimed dividends and funds in dormant accounts, and to indicate the measures being taken to send back the Finance Act to the National Assembly to repeal the legislation and remove its unconstitutional and unlawful provisions, including Sections 60 and 77, within 14 days of the receipt and/or publication of this letter. If we have not

COVID-19: Again, Ortom Goes into Isolation George Okoh in Makurdi Benue State Governor, Samuel Ortom, has gone into isolation due to contact with persons who tested positive for COVID-19. This is the second time the governor would go into isolation since the deadly virus hit Nigeria in February 2020. The governor had in July 2020 gone into isolation when his wife, Mrs Eunice Ortom, son, and some of the wife’s personal aides tested positive for COVID-19. The State Deputy Governor, Benson Abounu, yesterday announced that his principal, governor Ortom had again gone into self-isolation. Abounu who announced this at the Armed Forces Interdenominational service held at the ECWA Church, Makurdi,

the capital city, explained that the governor decided to go into isolation following the medical report indicating that a certain permanent secretary (whose name he refused to disclose) and his family members tested positive for the virus. The deputy governor, who is also Chairman, State action committee on COVID-19, said the governor will remain in isolation for the stipulated number of days until a test shows he is negative. “As I speak with you, the Governor has been in isolation for about 9 days and has shown no symptoms or signs of the virus. So, I am happy to inform you that by tomorrow, we should be able to certify him free and he will resume work,” he said. The deputy governor also decried the rate at which the

Sanwo-Olu to Lagosians: COVID-19 Not Hoax Lagos State Governor, Mr Babajide Olusola Sanwo-Olu yesterday warned Lagosians on the devastating effect of the raging Coronavirus (COVID-19). The governor appealed to Lagosians to take all the COVID-19 protocols seriously as COVID19 is not a glamorous disease or a hoax as some people claim it is. ”Lagosians, #COVID19 is not a glamorous disease, neither is it a hoax. You need to follow the safety guidelines to safeguard your friends and loved ones. “In the midst of increasing #COVID19 cases, we have some

good news from our Infectious Diseases Hospital.” Sanwo-olu tweeted. Earlier, the Deputy Governor of Lagos State, Obafemi Hamzat, said the second wave of COVID-19 affects people across different age groups. Hamzat said this while announcing the demise of his 37-year-old brother, who died of COVID-19. The deceased, Haroun Hamzat, who worked as a medical doctor at Orile Agege, helped a lot of patients, the deputy governor disclosed.

heard from you by then as to the steps being taken in this direction, the Registered Trustees of SERAP shall take all appropriate legal actions to compel your government to implement these recommendations in the public interest, and to promote transparency and accountability in public spending.

‘’The government cannot lawfully enforce the provisions on Crisis Intervention Fund and Unclaimed Funds Trust Fund under the guise of a trust arrangement, as Section 44(2)[h] of the Nigerian Constitution 1999 [as amended] is inapplicable, and cannot justify the establishment of these funds.

‘’SERAP notes that while targeting the accounts of ordinary Nigerians, the Finance Act exempts official bank accounts owned by the federal government, state government or local governments or any of their ministries, departments or agencies. Our requests are brought in the public interest,

and in keeping with the requirements of the Nigerian Constitution, the country’s international human rights obligations including under the African Charter on Human and Peoples’ Rights to which Nigeria is a state party, and which has been domesticated as part of the country’s domestic legislation.”

PRAYERS FOR FALLEN HEROES...

L-R: Minister of State for Works and Housing, Alhaji Abubakar Aliyu; Deputy Inspector-General of Police, Mr. Baba Alkali; Senate President, Sr. Ahmad Lawan; Minister of Defence, Major General Bashir Magashi (rtd); and Chief of Pollicy and Plan, Nigerian Army, Lt. Gen. Lamidi Adeosun, at the Jumma’at Prayer for the Armed Forces Remembrance Day celebration 2021, at the National Mosque in Abuja...recently

Insecurity: Bandits Now ExtortVillagers in Niger Laleye Dipo in Minna Fear has enveloped residents of some villages in the Shiroro Local Government Area of Niger State as bandits have adopted a new tactic of extorting villagers. The investigation revealed that to stop their being attacked and their property looted, the bandits now extort the villagers. It was learnt that not less than N5million is being demanded

by the bandits on monthly basis to stop the invasion of the communities. The negotiation according to the findings, is usually done through an intermediary who lives among the villagers who the bandits can also trust. The Iburu, Gamudu, Nasa, Nmachiko, Dnasafa, Jhazhayidna, and Galafe communities in the local government it was learnt, paid N3million through one

intermediary last November to guarantee their safety, it was learnt. It was gathered that the bandits are insisting that the balance must be paid and the money for December paid at a time. One of the community leaders who spoke on condition of anonymity said: “The bandits did not attack us in November but they have vowed to wipe us out if we do not pay the balance

and the money for November and December”. The community leader said villagers are now moving out of the area for fear of attack because they don’t have the money to pay. When contacted, the Police Public Relations Officer for the Niger State Police Command, Wasiu Abiodun, said: “It is a piece of information which we will verify and take necessary action.”

INEC: We’ll Leverage on Lessons, Challenges from US Presidential Elections

Says new electoral law will compliment commission’s desire for strong institutions Chuks Okocha in Abuja The Independent National Electoral Commission (INEC) yesterday said that it would take advantage of the ongoing electoral reforms at the National Assembly to leverage on challenges that the last presidential election in the United States could pose for elections in Nigeria. INEC National Commissioner and Chairman Information and Voter Education, Festus Okoye, who is currently acting as the chairman of the commission, said there are lots of lessons the commission have learnt from the current political debacle that occurred from the last presidential election in the United States. According to Okoye in an interview with THISDAY, he said. “We shall work assiduously to transform and build the commission to an institution that can run professionally and ethically and in the best

interest of the Nigerian people. “We recognise that individuals can make a difference and can make that difference within the institutional framework that is strong. “Some of the proposed amendments of the electoral laws will strengthen the commission and give it the muscle to deepen the use of technology in the electoral process. The amendments will strengthen the regime of internal democracy in the political parties, strengthen the commission to assess funds timely from the Consolidated Revenue Fund and make our elections more transparent. Our laws must be in tandem with societal movements and dynamics. “However, we are conscious of the fact that we need strong institutions and political players with the

requisite democratic spirit to complement the spirit of the law and the intendment of the law makers. We are confident that the new amendments will enable the commission pilot new initiatives and courageously and incrementally introduce new, creative, impactful, sustainable and acceptable innovations,” Okoye stated. Dwelling on the lessons INEC has learnt from the political debacle in the last presidential election in the United States, Okoye said: “The commission has a lot to learn from and has learnt a lot from the United States presidential election. The first lesson is that the people must take ownership of the electoral process and develop strong institutions to protect and support it. “The second lesson is that the nation comes first and the political preferences and affiliation of some of

the state actors’ pales into in significance when the democratic and electoral process is concerned. “The third lesson is that democracy and the electoral process is a work in process and each country must continue to work on it and nurture it. The fourth lesson is that advanced democracies can experience storms based on the political practices and actions of some of the operators but what is important is that the democratic process has shock absorbers to absorb challenges and proffer solutions. “The fifth is that nations must design their electoral process to suit their circumstances both geographically, historically and culturally. The sixth is that the American electoral system is anchored on the principle of voluntarism and this is the base of mandate protection,” Okoye explained.

MONDAY JANUARY 11, 2021 •T H I S D AY

MONDAY JANUARY 11, 2021 • T H I S D AY

T H I S D AY ˾ ˜ ͯͯ˜ ͰͮͰͯ

COMMENT

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

AMERICAN LESSONS TO CROSS

There are many rivers for the Biden-Harris team to cross, writes Okello Oculi

he irate invasion and ransacking of the American ‘’Capitol Building’’ (or federal parliament) was a globally televised political scandal which was relentlessly nurtured by the country’s top politician, President Donald Trump. He had combined open threats not to follow convention by leaving the seat of power if he lost the November 2020 presidential election with the assertion that he could lose the election only if the opposition Democratic Party rigged the election. In a speech before what has been characterised as ‘’domestic terrorism’’, President Trump had, like Shakespeare’s Henry V, urged his electoral army to ‘’breach’’ the walls of Capitol as legislators endorsed votes won by Joe Biden, the ‘’President Elect’’. In the run to November 6th sitting on Congress, former cabinet officials of Defence and Intelligence had published a warning against Donald Trump either raising a military coup, or declaring war against a foreign country – possibly Iran – to mobilise the over 70 million voters who had supported him to defend their slogan of ‘’Four More Years’’. Observers of American relations with Africa since 1960 must find this as the case of the dog bred on human flesh turning around to eat the owners. President Eisenhower ordered the assassination of Congo’s first Prime Minister, Patrice Lumumba barely six months after independence. WEST AFRICA magazine quoted a former British diplomat admitting shared efforts with the American Ambassador in efforts to either assassinate or overthrow Kwame Nkrumah. Nigeria’s Prime Minister, Abubakar Tafawa Balewa; Uganda’s Milton Obote; Burkina Faso’s charismatic Thomas Sankara fell. Brilliant strategists who had led successful liberation movements, notably: Amilcar Cabral in Guinea Bissau and Cape Verde, and Samora Machel of Mozambique were terminated before they would shape Africa’s development. A Senator told a BBC correspondent that the desecration of ‘’important organs of government’’ only took place in ‘’Banana Republics’’ as if the political climate pollution does not flow back into the consciousness of American citizens. Candidate and President Donald Trump showed evidence of ingesting such political poison from the country’s history. He was strongly influenced by Harry Anslinger, the head of the Federal Bureau of Narcotics who invented the practice of associating narcotic drugs with specific ethnic groups. He accused Mexicans of infecting America with ‘Marihuana’’; and the Chinese, with Heroine.

IT IS PARADOXICAL THAT AS CAPITOL HILL WAS BEING INVADED BY TRUMP’S PREDOMINANTLY WHITE SUPPORTERS, CAMPAIGNERS IN THE STATE OF GEORGIA WERE CELEBRATING HISTORIC ACHIEVEMENTS IN ELECTING INTO THE COUNTRY’S SENATE AN AFRICANAMERICAN PASTOR AND A YOUNG SON OF JEWISH IMMIGRANTS

Donald Trump built his election campaign on blaming Mexicans for crime and drugs. He failed to blame the drug barons in New York and major urban centres who controlled the lucrative trade. He did not attack the multinational corporations who were manufacturing their merchandise in China and importing them to American consumers. Labour in China was well educated, highly disciplined, and paid low wages since their education, health care and housing was provided by a socialist state. As a billionaire himself, he could not talk the language of critics of capitalists. His blame game tapped into a ‘’pool of frustrations’’ which could be channelled into the anti- African American racism by the Ku Klux Klan, and resentment of economic backwardness compared to states in the North. This bitterness was expressed by several members of the mob. There was a vigorous bitterness and rage in their rejection of Trump’s electoral defeat. American propagandists have claimed being a flagship of ‘’democracy’’ despite official denial of voting rights to Black communities. It is paradoxical that as Capitol was being invaded by Trump’s predominantly white supporters, campaigners in the State of Georgia were celebrating historic achievements in electing into the country’s Senate an AfricanAmerican pastor and a young son of Jewish immigrants. As Ms Cartwright put it, their success had broken a barrier of political backwardness in the Southern States as a result of officials removing names of African-American voters for the electoral roll. Successive American governments supported regimes in Apartheid South Africa, Brazil, Argentina, Australia, and Peru where communities of African descent are discriminated against in economic, social and political sectors. Not surprisingly, Cuba which has been exemplary in freeing Afro-Cubans from poverty and exclusion has suffered from a long tradition of hostility and subversion by American governments. The United States has been familiar with political mines planted by British colonial officials in Africa and Asia by which one sector of a country is denied development and encouraged to demand for secession after independence. In Sudan for example, the Muslim North received Western education – including hosting Khartoum University – while the Southern communities were denied education. In Nigeria, this formula was reversed. Both led to bitter civil wars. The United States, Sudan and Nigeria are suffering from this British colonial political land-mines. There are many rivers for the Biden/Harris team to cross. Jimmy Cliff, a Jamaican voice, sung that lyric.

ON RECOVERY PATH

argues that the appointment of Eﬃong Akwa as sole administrator of NDDC is in order

y far, one of the most petrifying scenes of the year 2020 in Nigeria was the rather weird sight of the former Acting Managing Director of the Niger Delta Development Commission (NDDC), Professor Kemebradikumo Daniel Pondei slumping and passing out at a public hearing in one of the hearing rooms at the National Assembly. Prof. Pondei was being grilled by the legislators about serial allegations of fraud in the NDDC even under an interim administration that was supposedly put in place to clean up the mess left behind by past managers of the commission. For many, the tragi-comedy that played out at that public hearing in the National Assembly aptly summed up what the NDDC had become under successive overseers of the affairs of the commission: on one hand, a joke and the other, a monumental tragedy for the long-suffering people of the Niger Delta. Perhaps but for the formative years of the commission, the NDDC has largely been underperforming and shortchanging the very sensitive Niger Delta region of the country. The Niger Delta Development Commission (Establishment etc.) Act of 2000 (Part II) clearly spelt out the core functions and powers of the commission to include the following: “formulate policies and guidelines for the development of the Niger-Delta area; conceive, plan and implement, in accordance with set rules and regulations, projects and programmes for the sustainable development of tie Niger-Delta area in the field of transportation including roads, jetties and waterways, health, education, employment, industrialization, agriculture and fisheries, housing and urban development, water supply, electricity and telecommunications. Cause the Niger-Delta area to be surveyed in order to ascertain measures which are necessary to promote its physical and socio- economic development; prepare master plans and schemes designed to promote the physical development of the Niger-Delta area and the estimates of the costs of implementing such master plans and schemes; implement all the measures approved for the development of the Niger- Delta area by the Federal Government and the member States of the Commission; identify factors inhibiting the development of the Niger-Delta area and assist the member States in the formulation and implementation of policies to ensure sound and efficient management of the resources

of the Niger-Delta area; assess and report on any project being funded or carried out in the Niger-Delta area by oil and gas producing companies and any other company including non-governmental organisations and ensure that funds released for such projects are properly utilised; tackle ecological and environmental problems that arise from the exploration of oil mineral in the Niger-Delta area and advise the Federal Government and the member States on the prevention and control of oil spillages gas flaring and environmental pollution….” Since the expiration of the tenure of its first Board, the NDDC has abysmally deviated from these core functions as succinctly enshrined in the Act establishing it. Progressively, the Commission became the playground for politicians, aspiring politicians and their acolytes. With their cohorts in the National Assembly, previous board members and management team at the NDDC became highly insensitive to the plight and aspiration of underdeveloped oil-bearing communities that dot the landscape and creeks of the Niger Delta. Instead of being a fulcrum for peace, safety and sustainable development in the states in the Niger Delta, the NDDC became a coven of sorts where very corrupt, shameless and obtuse politicians and technocrats brazenly and barefacedly channel the commonwealth of the people into their bustling bank accounts and then proceed to buy political and other socio-economic privileges. One credit that should be given to the administration of President Muhammadu Buhari is its dogged resolve, in spite of series of setbacks, to return the NDDC to its original mandate. Well-meaning stakeholders, including governors of the nine states in the Niger Delta region are in emphatic agreement that the first and best way to return the NDDC to relevance and fruitfulness is the forensic audit of the commission. Interestingly, President Muhammadu Buhari totally agrees hence his speedy approval for the forensic audit of the commission and further approved the halting of the inauguration of a new board that had been nominated and cleared by the Senate for the commission. You do not need to be a chieftain of the ruling All Progressives Congress (APC), a partisan politician or even an admirer of President Buhari to agree that it makes no sense to inaugurate a new board for the NDDC at a time when the overwhelming sentiment in the region is for the government to rejig the commission for enhanced productivity, starting with

a forensic audit. Given the political and social weight NDDC board members usually throw around, there is no way a thorough forensic audit can be achieved with a substantive board in place. Once the board is inaugurated, big-time contractors and their equally influential friends in the National Assembly and other powerful political corridors, who may have benefitted from the contracts being queried, would all too certainly derail the forensic audit. Like most stakeholders in the region have already said, let the commission be cleaned up, as much as possible, before a new board assumes office. It has also been noticed that some entrenched interests have been threatening fire and brimstone over the recent appointment of an interim sole administrator for the NDDC. For one, these persons keep missing the point. Neither President Buhari nor the Minister of Niger Delta Affairs, Senator Godswill Akpabio “pushed” out the last Interim Management Committee (IMC) led by Professor Pondei. If anything, both the President and Senator Akpabio fully supported the IMC to succeed even in the face of huge odds. However, like the President’s spokesman, Mr. Femi Adesina, said, the ousting of the Pondei-led Interim Management Committee became necessary as a result of a plethora of litigation against the IMC. The IMC was, in the true sense of the word, removed by the law court. Since nature abhors vacuum, the onus fell on President Buhari to appoint a seasoned accountant and administrator, Mr. Effiong Akwa as a sole administrator to run the affairs of the Niger Delta Development Commission. Effiong Akwa, who was the acting executive director, finance and administration in the ousted IMC, according to the Presidential spokesman, “is to assume headship (of the commission) till completion of the forensic audit.” Justice A.R. Mohammed of the Federal High Court in Abuja had actually issued an order restraining the Professor Pondei-led IMC from running the affairs of the commission. Following the court ruling and sequel to the decision of the federal government to halt the inauguration of a substantive board for the NDDC till after the ordered forensic audit, it became imperative for the president to rely on precedent to appoint Mr. Akwa as the interim sole administrator of the NDDC. Since its establishment, NDDC has at different times had its affairs presided over by acting, interim or sole administrators. Indeed, the first Executive Director of Finance and Administra-

tion of NDDC, Chief Timi Alaibe, following the resignation of the pioneer Managing Director, Engr Godwin Omene, and pending the appointment of another substantive Managing Director, acted as the Managing Director of the NDDC. When Senator Emmanuel Aguariavwodo was appointed and confirmed by the Senate as the substantive Managing Director, Timi Alaibe reverted to his role as the Executive Director, Finance and Administration. Again, Senator Aguariavwodo resigned his appointment to contest for the governorship of his home state, Delta and Chief Timi Alaibe again stepped in as Acting Managing Director, pending the appointment of a substantive Managing Director. Prior to Buhari’s coming to power in 2015, in the absence of a board duly constituted in line with the NDDC Act, the most senior civil servant in the NDDC took over as Managing Director in acting capacity until a board was constituted. In 2015, following the dissolution of the then board of the NDDC, Mrs. Ibim Semenitari was appointed as sole administrator from outside the commission. Similarly, an IMC was instituted for the NDDC led by Professor Nelson Brambaifa’s in February 2019. There was also the IMC led by Ms. Joi Nunieh and later the Professor Pondei led IMC in October 2019 and February 2020, respectively The choice of Mr. Effiong Akwa by President Buhari follows this well laid out precedent. The appointment has been hailed by many within and outside the Niger Delta given Mr. Akwa’s pedigree as a chartered accountant and a Lawyer with a deep understanding of the work the Forensic Audit team should do at the NDDC. Incidentally, Mr Akwa joined the ousted NDDC interim management team as a replacement for Ibanga Etang, the then executive director of finance and administration, who unfortunately, died. The good news is that the forensic audit of NDDC is now proceeding as envisaged by the federal government and the interim sole administrator, Mr. Effiong Akwa, has since his appointment returned relative peace to the commission. Quiet but speedily effective restructuring of the internal workings of the commission is on-going and profound results are being achieved. Ebiagha, a Quantity Surveyor, wrote from Port Harcourt

T H I S D AY ˾ ˜ ͯͯ˜ ͰͮͰͯ

EDITORIAL

OF CAMELS AND LAND BORDERS The flow of illegal weapons into the country is increasingly endangering lives

espite 16 months of partial closure of the country’s land borders, the impact seems fragile since the security challenges have not in any way diminished. If anything, the challenges seem to be mounting. Nothing highlights that better than the statement by the Arewa Consultative Forum (ACF) which raised the alarm that Camels are now being used to bring in rocket propelled grenades and antiaircraft guns into the country through northern borders. “The NIGERIA IS AWASH WITH question Arewa ILLEGAL SMALL ARMS AND Consultative LIGHT WEAPONS MANY OF Forum would like to ask the security WHICH WERE TRAFFICKED agencies is, where THROUGH UNMANNED are the Camels heading? The ACF BORDERS is deeply worried,” said Audu Ogbe, ACF chairman and the immediate past Minister of Agriculture. While many people question the reopening of the borders, especially at a time we are still fighting a global pandemic amid insecurity, it is also difficult for an administration that has adopted a selective approach to who has access to them to keep the borders perpetually shut. The issue of illicit arms flow, however, needs to be addressed as a national security imperative. Not long ago, President Muhammadu Buhari had lamented that the West African sub-region is not only a victim of illicit financial flows but also of human trafficking, arms and drugs, and with dire consequences on the wellbeing of the people and on national security. These, he added, had continued to fuel terrorism and the proliferation of Small Arms and Light Weapons (SALWs). His views were corroborated by then deputy head, Policy and Analysis of Munich Security Conference, Julian Voje. The challenges posed by illicit flows, particularly through Nigeria’s borders, are enormous. Nigeria has hundreds of porous borders where

Letters to the Editor

he National Universities Commission (NUC) just put out its advisory that universities in Nigeria should resume for academic activities on the 18th of January 2021. That was well-said and happily absorbed by impatient student-scholars who have realized that one full academic session will be chalked off from their schooling progression. I had a couple of phone calls from my assigned thesis advisees, just “calling to say hello” but I knew what they wanted to be sure of. Over here at the Federal University of Technology, Minna, it is known that my enthusiasm for supervising undergraduate theses knows no bound and I am the one who would go the extra length to commit my personal resources to offset the costs of field trips and data processing. At the end of the session, I usually set a target to get germane materials from the supervised theses

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illegal movements and smuggling of people and goods are done on a daily basis. Now, animals are being used as mules to smuggle in illegal weapons, and perhaps more. Indeed, besides huge losses to the economy, the borders have also aided human and drug trafficking, while fuelling terrorism and communal violence in the country. The level of insecurity and conflicts across the nation perhaps highlights the prevalence of weapons in the hands of non-state actors. Nigeria is awash with illegal small arms and light weapons many of which were trafficked through the unmanned borders. A recent research showed that out of the 857 million small arms and light weapons in the world, 500 million are illegal with 100 million found in sub-Saharan Africa. About 7.5 per cent of that is in Nigeria. The UN Regional Centre for Peace and Disarmament and the Presidential Committee on SALWS also found that 350 million of the 500 million such weapons in West Africa are in Nigeria. As the ACF noted last week the capacity of the terrorists is rising by the day and “we are not far from the moment when the terrorists will become better armed than our accredited security agencies.” Besides, the ease of access to these weapons has made individuals and communities more fortified and hence less amenable to entreaties to make peace. The increasing wave of bloody violence between farmers and herdsmen as well as the serious security challenges on the country’s highways can be traced partly to the ease to SALWs by some unscrupulous elements. This is a common phenomenon as it has resulted in breakdown of law and order in some of the failed states in Africa. The Minister of Interior, Rauf Aregbesola, said recently that the country had deployed technology called MIDAS (migration information data analysis system) in the four reopened borders to register all those crossing the borders. As it stands, such surveillance has to be extended to some of the 1400 illegal entry routes into Nigeria. This is needed to safeguard lives and property in the country.

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NUC, FG SHOULD PAY ASUU efforts published before the students are done with the one year national youth service scheme; that is surely a very optimistic target as different academic journals are constraints by varied administrative and paperinputs circumstances that impact on their stated timelines of publications. Nonetheless, at some time soon enough, the students get a call from me that such and such papers have been published in such and such local journal. That is my little confidence-boosting contribution to students’ quest for further graduate studies and it has helped some of them in their pursuits. Thus, when the calls came in wondering about the 18th January resumption date I was honest and blunt in my characteristic way, informing them that the federal government has reduced us to the status of local government education departments’ primary school teachers with backlog of months-long salary owed whilst the

government in their “magnanimity” progressively reduces the deficits in one or two-months installments. I wondered how I was going to take them out to the bush at the Gidan Kwano Campus to execute the workformat that I have designed for them before the combo ASUU strike/ COVID-19 lockdown shut universities down for one full academic year. My students know me and they know that if I feel financial pain it’d impact heavily on a negative sense on them because gifted lunch packs and drinks from me, not to talk of transport subsidy plus cost-saving contributions to field trip charges will suffer. It is 9th of January 2021 as I pen this piece and December 2020 salary has not been paid to ASUU non-IPPIS enrollees faithful; there is a backlog of withheld three-month pay still pending, not to mention January 2021 pay. On paper, the federal government “promised” to offset all claims by month-end of

January 2021. That is the catch, this “promise” that the federal government reneges on without a prick of conscience. I rightly informed my thesis advisees that university lecturers are still “hungry” and it is inconceivable to see how we’d happily welcome students back to classes and the laboratories plus the outdoors when landlords and landladies are menacing us and we are unable to send school fees over to the accounts of our charges. The NUC should impress it of the federal government to pay up all pending ASUU financial claims before the 18th of January. The idea that the NUC is “battle-ready” to take on ASUU on behalf of Muhammadu Buhari is, simply put, a non-academic stance. Sunday Adole Jonah, Department of Physics, Federal University of Technology, Minna, Niger State

MONDAY JANUARY 11, 2021 •T H I S D AY

T H I S D AY ˾ MONDAY JANUARY 11, 2021

Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

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

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

Court Cases That Will Affect Politics in 2021 Alex Enumah writes that guber election cases in Edo and Ondo states, enduring tussle for the leadership of the All Progressives Grand Alliance, matters of public concern instituted by the Nigeria Governors Forum and the Socio-Economic Rights and Accountability Project are among landmark disputes on which Nigerian courts are expected to make a pronouncement this year

Buhari

Muhammad

Malami

Fayemi

Action Peoples Party (APP), without joining its governorship candidate, Amos Areloegbe; Allied Peoples Movement (APM), excluding its governorship candidate, Igbineweka Osamuede; and Tracy Agol, without joining her political party, the New Nigeria Peoples Party (NNPP). The tribunal had on December 11, 2019 in an unanimous ruling dismissed the petition of the Action Alliance (AA) and its governorship candidate, Ukonga Onaivi, against Obaseki, PDP, and INEC, for failing to file pre-hearing notice. The tribunal last month also disclosed that it would resume hearing from January 11, 2021 in various petitions against Obaseki, his deputy, Philip Shaibu and their party the PDP over their emergence as winner of the September 19, 2020 governorship poll. Sued alongside the winners is the INEC. Chairman of the tribunal, Justice Yunusa Musa made the disclosure at the end of the pre-hearing session in Benin City, the Edo State capital. Justice Musa, assisted by Suleiman Abubakar and Stanley Olufunmilayo Stanley, who had replaced the disbanded Abdulrazak Abdulkareem-led three-member tribunal, said that hearing in the four petitions would separately be on January 11, 12, and 13, 2021.

According to him, the APP and Agol petitions would be heard on January 11, that of APM, January 12, while that of the ADP will hold on January 13. The four petitioners in their separate suits are seeking the nullification of the September 19 re-election of Obaseki and Shaibu, the pettioners who anchored their cases on alleged certificate forgery all call for fresh election that would exclude PDP, Obaseki and his running mate. The tribunal’s inaugural sitting took place on October 30, with the tribunal having 180 days from the date of filing the petitions to conclude hearing in the matters and deliver judgments, thereby dragging to the first week of April next year. The ADP and its governorship candidate in their own case are asking the tribunal to disqualify Obaseki over his controversial first-degree certificate from the University of Ibadan (UI) and nullify the votes cast for him. They prayed the tribunal to order INEC to conduct a fresh election involving all other qualified governorship candidates, excluding PDP and Obaseki. On its part, the APM is seeking the nullification of the poll over allegeded irregularities. The party further prayed for an order nullifying the entire governorship

election of September 19, 2020, in Edo State, for substantial non-compliance with the provisions of the 1999 Constitution of the Federal Republic of Nigeria, as amended, and the extant Electoral Act, 2010, as amended, thereby ordering a fresh election. Mrs Agol in her own petition claimed that the Edo Governor was not qualified to contest the September 19 election for allegedly presenting a forged/false certificate to INEC. Though not challenging the outcome of the election of the September 19 poll at the tribunal, the APC which came second at the poll is however slugging it out with Obaseki in a pre-election suit at a Federal High Court in Abuja. However, the hope of the APC to come to power outside the decision of the tribunal last week suffered double jeopardy with two separate judgments against the party. First, was a High Court in Benin City which last Thursday nullified the participation of the party in the September 19 poll on account of its deputy governorship candidate Mr. Gani Audu. The court found him guilty of giving false information to INEC and subsequently nullified his candidacy and by extension that of the governorship candidate, Pastor Osagie Ize-Iyamu and the APC in the poll. The next set back to befall the APC came Saturday barely 48 hours after the first, when Justice Ahmed Mohammed of a Federal High Court in Abuja, dismissed its suit seeking the disqualification of Obaseki and the PDP from the September 19 poll on account of alleged forgery and falsehood in the documents Obaseki presented to INEC to aid his qualification for the poll. The court held that the reliance of the plaintiffs on mere photocopies of documents Obaseki submitted to INEC was fatal to their case. However, hope is not yet lost for the APC as decisions of the lower courts can and have been set aside by the final court, the Supreme Court of Nigeria. Outside Edo, Ondo is another state to be watched in 2021. Although, three political parties and their governorship candidates had dragged INEC before the Ondo State Governorship Election Petitions Tribunal for declaring Governor Rotimi Akeredolu of the APC winner of the October governorship poll, the tribunal, however, has dismissed two out of the three petitions for failing to file the pre-trial forms. Those whose petitions were dismissed are the All Peoples Party (APP) and Action Alliance (AA). With the development,

he year 2020 was one-year Nigerians and indeed politicians will not forget in a hurry. This is so because of some landmark decisions reached, particularly by the Supreme Court of Nigeria. Two of these cases whose memory would linger for a very long time were those concerning the sack of former Imo State Governor, Emeka Ihedioha of the Peoples Democratic Party (PDP) on January 14, 2020. His seven-month reign as Chief Executive of Imo State was cut short in a controversial pronouncement by the Apex Court. Likewise, Chief David Lyon of the All Progressives Congress on February 13, 2020., the eve of his swearing-in had the carpet removed from his feet and he was left wondering what hit him, when he had already been put through the ceremonial courtesies of his assumption of office. While the case of ihedioha was a product of the election petition tribunal that of Lyon was a pre-election case that sacked the APC governor-elect on the eve of his inauguration. In the case of Imo state, the Apex Court declared the candidate of the APC, Hope Uzodinma, who came fourth in the election as winner of the poll after adding votes said to accrue to him from 388 polling units initially excluded by the Independent National Electoral Commission (INEC). However, in the case of Bayelsa, the governor-elect was sacked because his deputy, Biobarakuma Degi-Eremienyo was found to have submitted forged documents to INEC in aid of his qualification for the November 2019 governorship election. The Apex Court accordingly ordered the candidate of the PDP, Senator Duoye Diri, who came second to be sworn in as governor. And just like in the Imo and Bayelsa states court cases, issues of irregularities, electoral fraud as well as forgery have characterized petitions at the ongoing election petition tribunals which are expected to deliver their respective verdicts in April and May respectively. Going by the expected 60 days the cases would each spend at the Appeal court and another 60 days at the Supreme Court. The Edo election is expected to be put to rest by August, 2021, while that of Ondo one way or another must come to an end the following month. In Edo, four of the candidates and their parties are currently challenging the emergence of incumbent, Governor Godwin Obaseki. The petitioners include: the Action Democratic Party (ADP) and its governorship candidate, Emmanuel Iboi;

In the case of the All Progressive Grand Alliance, the leadership tussle is between the former chairman of the party, chief Victor Oye and Chief Edozie Njoku has endured. According to Njoku; himself, Hamarian Ghide and Adamu Musa were duly and overwhelmingly elected as the National Chairman, National Legal Adviser and Deputy National Chairman of APGA at the party’s National Convention on May 31. However, his election has become an issue of litigation both at the Federal Capital Territory (FCT) High Court and the Federal High Court, Abuja. Oye who was the past APGA National Chairman and some others are accused of convening a parallel EXCO stopping the Njoku-led EXCO from functioning. In the suit before the Federal High Court, Njoku is praying the court to hold that he is the authentic chairman of the party and also praying the court to restrain the INEC from recognizing any other person except himself as Chairman of APGA

T H I S D AY ˾ MONDAY JANUARY 11, 2021

MONDAY DISCOURSE

Obaseki

Ize-Iyamu

Akeredolu

Jegede

Akeredolu is only faced with the petition of the Peoples Democratic Party, and its governorship candidate, Eyitayo Jegede (SAN). The PDP and Jegede are asking the tribunal to declare them winner of the October 10 governorship election on the ground that Akeredolu was not validly nominated by his party, the APC. The PDP candidate, Jegede is also alleging that the election was marred by violence. The petitioners submitted that there was over voting in many areas, which made the votes garnered by the incumbent governor invalid. Just like the Edo situation, Chairman of the Ondo Tribunal, Justice Umar Abubakar, also announced a January date for trail to fully commence in the PDP petition. According to him, sitting will hold on Mondays to Saturdays 9:30am to 5pm. Exception on public holidays and Sundays. Counsels appearing before the tribunal agreed with the contents of the Pre-Trial report but pleaded that the number of representations which was pegged at five to reduce the crowd in the Court, be increased to 10. Outside the two recent governorship contests that are currently at the tribunal and which is believed will probably reach the Supreme Court, there seems to be no end in sight, however, in the governorship tussle in Imo State. This is following a fresh suit filed against the declaration of Uzodinma as Governor of Imo State. Although the Apex Court has consistently upheld the finality of its decision in any settled case, lawyers however are daily becoming adamant in their quest to get the Apex Court reverse some of its most recent judgments. Following its sack last January, Emeka Ihedioha had through his lawyer, Chief Kanu Agabi (SAN) attempted to make the Apex Court set aside its own judgment and return him as Governor of Imo state. The request was turned down at no cost against the appellant even when lawyers of the APC were fined heavily for a similar request in the case of Bayelsa governorship suit. In the fresh suit scheduled for hearing Monday January 11, 2021 at the Supreme Court, the appellant, Philip Umeadi (SAN) wants the Apex Court to interpret its earlier judgment which had pronounced Mr. Uche Nwosu as the rightful candidate of the APC in the March 9, 2019 governorship poll in Imo state. It would really be interesting to see what the Apex Court would do in this case today, Monday, January. Outside election matters, legal tussle over the leadership of the ruling All Progressive Congress (APC) and the All Progressives Grand Alliance (APGA) provide other area of interest. The National Executive of the APC had mid-last year sacked the Adams Oshiomhole-led National Working Committee (NWC) following alleged down turn of the fortune of the party, as well as, its near disintegration and set-up a caretaker committee to pilot the affairs of the party for a period of six months when a new NWC would be inaugurated. The Governor Mala Buni-led caretaker committee, however, could not hold a convention within the six months timeline forcing the NEC last December to extend the tenure of the committee. A dissatisfied chieftain of the party, one

Kalu Kalu is, however, challenging the dissolution of the NWC, a member of the NWC, Hilliard Eta, former National Vice Chairman South-south of the APC is currently in court over their sack. His court action has led to his expulsion from the party at the NEC meeting of December which gave the Buni-led caretaker committee another six months to organize an extraordinary convention of the APC. How these court cases turn out would go a long way in determining the fate of the APC as preparations for the 2023 general election gathers momentum in the middle of the year. In the case of the All Progressive Grand Alliance, the leadership tussle is between the former chairman of the party, chief Victor Oye and Chief Edozie Njoku has endured. According to Njoku; himself, Hamarian Ghide and Adamu Musa were duly and overwhelmingly elected as the National Chairman, National Legal Adviser and Deputy National Chairman of APGA at the party’s National Convention on May 31. However, his election has become an issue of litigation both at the Federal Capital Territory (FCT) High Court and the Federal High Court, Abuja. Oye who was the past APGA National Chairman and some others are accused of convening a parallel EXCO stopping the Njoku-led EXCO from functioning. In the suit before the Federal High Court, Njoku is praying the court to hold that he is the authentic chairman of the party and

also praying the court to restrain the INEC from recognizing any other person except himself as Chairman of APGA. If the issue is not resolved early enough it may jeopardise the chances of the party in the 2021 governorship election in Anambra State where the party has held sway for the last 16 years. Therefore all eyes are on Governor Willie Obiano of Anambra State to see how he manages Njoku and his allies in order to have a fighting chance in the impending Anambra State governorship contest. Will APGA lose Anambra, the only State where it has copious visibility? Everything now depends on how Obiano rises to the challenge. Other cases whose decisions one way or the other may affect the development of the country are two suits filed by SocioEconomic Rights and Accountability Project (SERAP). The first is against the Senate President, Dr. Ahmad Lawan and the Speaker of House of Representatives, Femi Gbajabiamila, over “their failure to publish reports of all completed public hearings and corruption probes by the National Assembly since 1999, and failure to disclose the number of probes that have resulted in any indictment of suspects, and to name such suspects.” The legal action was sequel to recent public hearings by the National Assembly on corruption allegations in ministries, departments and agencies, including the Niger Delta Development Commission (NDDC) and the Nigeria Social Insurance Trust Fund

(NSITF). Reports of several public hearings and corruption probes have remained secret, and the allegations unresolved. The rights group in the suit marked: FHC/ ABJ/CS/1065/2020, is seeking, “an order of mandamus to direct and compel Lawan and Gbajabiamila to send all reports of completed public hearings and corruption probes to appropriate anti-corruption agencies to consider if there is sufficient admissible evidence to pursue prosecution.” In the second suit against President Muhammadu Buhari and the leadership of the National Assembly, SERAP and 302 concerned Nigerians are asking the court to declare illegal, unconstitutional and unfair the recent hike in electricity tariff and fuel price because top level public officers cannot continue to receive the same salaries and allowances and spend public money to finance a life of luxury for themselves while asking poor Nigerians to make sacrifices. SERAP in the suit marked FHC/ABJ/ CS/330/2020 is praying the court for “an order directing and compelling the RMAFC to cut the salaries, allowances and other emoluments payable to President Buhari, Professor Osinbajo, Dr Lawan and Mr Gbajabiamila, in line with the current economic realities, and principles of justice, fairness, equality and non-discrimination.” Dr. Lawan is sued for himself and on behalf of all 109 members of the Senate, while Mr Gbajabiamila is sued for himself and on behalf of all 360 members of the House of Representatives. Another case of interest is the suit filed by the Nigerian Governors Forum seeking to stop the Nigerian Financial Intelligence Unit (NFIU) from implementing its recent guidelines on local government financial autonomy. The NFIU, in a guideline commencing from June 1, 2019 directed banks not to honour transactions in the joint accounts of state and local governments. According to the Intelligence Unit such accounts should only be used to distribute allocations to accounts of local governments directly. The NGF however approached a Federal High Court to challenge the directive on the grounds that the directive was illegal because it contradicted the Nigerian Constitution. The Nigeria Governors’ Forum (NGF) had on May 27, 2019, prior to the date of commencement of the regulations, instituted suit marked FHC/ABJ/CS/593/2019, before the Federal High Court in Abuja asking for an order to invalidate the regulations for being unconstitutional, null and void. The plaintiffs, through their lead counsel, Mr. Lateef Fagbemi (SAN), also urged the court to declare that by virtue of sections 4(7), 7(6)(a) and (b), 162(6) and 162(7) and (8) of the Nigerian Constitution, “the state governments are not subject to control or directive of the Nigerian Financial Intelligence Unit or any body on the terms and manner of operation of State Joint Local Government Account other than by a law passed by the states’ House of Assembly.” The Attorney-General of the Federation and the NFIU are joined as defendants in the suit. Meanwhile, the governors of the 36 states of the federation have rejected the move by the Nigeria Union of Local Government Employees (NULGE) to be joined in the suit. The case is currently before Justice Inyang Ekwo of the Federal High Court.

Issues of irregularities, electoral fraud as well as forgery have characterized petitions at the ongoing election petition tribunals which are expected to deliver their respective verdicts in April and May respectively. Going by the expected 60 days the cases would each spend at the Appeal court and another 60 days at the Supreme Court. The Edo election is expected to be put to rest by August, 2021, while that of Ondo one way or another must come to an end the following month. In Edo, four of the candidates and their parties are currently challenging the emergence of incumbent, Governor Godwin Obaseki. The petitioners include: the Action Democratic Party (ADP) and its governorship candidate, Emmanuel Iboi; Action Peoples Party (APP), without joining its governorship candidate, Amos Areloegbe; Allied Peoples Movement (APM), excluding its governorship candidate, Igbineweka Osamuede; and Tracy Agol, without joining her political party, the New Nigeria Peoples Party (NNPP). The tribunal had on December 11, 2019 in an unanimous ruling dismissed the petition of the Action Alliance (AA) and its governorship candidate, Ukonga Onaivi, against Obaseki, PDP, and INEC, for failing to file pre-hearing notice. The tribunal last month also disclosed that it would resume hearing from January 11, 2021 in various petitions against Obaseki, his deputy, Philip Shaibu and their party the PDP over their emergence as winner of the September 19, 2020 governorship poll

T H I S D AY ˾ MONDAY JANUARY 11, 2021

POLITICS

Heads May Roll in Presidency, MDAs over Disagreement between Okunbo and Ayeni Nseobong Okon-Ekong writes that an Ijaw ethnic nationality group protecting the memory of its late patriot, Chief Diepreye Alamieyeseigha, Bayelsa Natives in Nigeria and the Diaspora, among others have weighed in on the quarrel between Captain Idahosa Okunbo and Dr. Olatunde Ayeni, which is assuming wider political dimension

Osinbajo

Jonathan

Okunbo

Ayeni

Naira to buy NITEL/MTEL, Ibadan Electricity Distribution Company. Skye Bank (now Polaris Bank) was said to have run into irretrievable troubled waters owing, largely to Ayeni’s alleged fraudulent activities, but was rescued for the sake of hapless depositors by the Asset and Management Company of Nigeria (AMCON). In the recent Edo State governorship contest, Okunbo came out openly in support of the APC candidate, Pastor Osagie Ize-Iyamu. Incorporated in 2008 by Okunbo, OMS, a leading asset protection company dedicated to protecting Nigeria’s natural resources from graft and illegal activities, is also a foremost player in the global maritime industry. Okunbo, perhaps in a bid to expand his company’s operations, invited Ayeni on board and he reportedly snapped up about 35 percent stake. However, after his unceremonious ouster from Skye Bank owing to alleged money laundering and mismanagement of depositors’ funds, Ayeni approached Okunbo that he would like to sell off his shares and cease to be a director of OMS. Okunbo, who would never use gilded words to masque deceit or brandish fickle principles and statistics to conclude with a false truth, appealed to him to rescind his decision. But Tunde’s mind was already made up to sell off the shares. Documents show that Ayeni, using his company, Prime Union Investment Limited, specifically on August 15, 2018, agreed to sell his shares including the 175, 000, 000 ordinary shares in GYRO (and the 50, 000, 000 shares held by

Mrs Ayeni) to Wells Property Development Company Limited for the total sum of N2bn (Two billion Naira). A special resolution of the board of Prime Union Investment Limited, signed by Ayeni and his wife, Biola, confirmed the sale of shares mid-August 2018. Following this agreement, Capt. Okunbo, on November 26, 2018, duly authorised the transfer of N1billion to Ayeni’s Olutoyl Estate Development and Services Ltd’s Sterling Bank account. The balance was mutually agreed to be paid on a monthly instalment. The board of OMS went ahead to notify the Central Bank of Nigeria, CBN, and the Office of the Vice President per Ayeni’s resignation of his membership of the board of the OMS and its affiliate companies. While acknowledging the agreement in January 2019, the CBN stated, “Please, be informed that the resignation of Dr Ayeni from the board of your company does not in any way affect his liability, or that of Ocean Marine Solutions Limited or any of its subsidiaries/group members, to Skye Bank Plc (now Polaris Bank Limited) and, indeed, any other bank in Nigeria.” Similarly, on March 1st, the Vice President, in an acknowledgement letter titled ‘Re: Notification of Resignation and Share Divestment of Dr Olatunde John Ayeni’ signed by the Deputy Chief of Staff to the President, Ade Ipaye, applauded Capt. Okunbo’s renewed commitment to service in the agricultural, aviation and hospitality sectors of the economy, adding, “Your Company’s disclaimer as regards the said Dr. Ayeni’s activities as chairman of

Skye Bank has been duly noted and brought to the attention of His Excellency, the Vice President.” Interestingly, in a shocking volte-face after collecting his full balance, Ayeni, acutely aware of Okunbo’s illness and ongoing battle to stay alive, reportedly petitioned the EFCC through his lawyer, Femi Falana, SAN, alleging that he sold his shares under duress and, therefore, wants more money. His premise, according to sources privy to the document, was that Okunbo is wealthy enough to pay him more from the company after he had collected the agreed N2billion. Falana, a renowned human rights activist and lawyer, is said to have taken up Ayeni’s case in his bid to possess Okunbo’s business, in spite of his public posture as a defender of the defenceless looms large and someone whose crusade for social justice reverberates globally. If Ayeni was under duress to sell his shares, as he now allegedly claims, was his wife, Biola Ayeni, who co-signed, too? Thus, in a joint statement issued by the board, management and shareholders of OMS, Ayeni’s claims of still being a shareholder of the company were disproved. “Dr Olatunde John Ayeni is no longer a Director of OMS and any of its associated companies having resigned from OMS since August 2018,” the signees posited, adding that he sold and transferred all his shares and interests to Wells Property Development Company Limited for valuable consideration since 2018. As such, Ayeni, the statement averred further, had not been involved or connected in any way with the management of the OMS since the time he sold his shares and resigned from the board. However, according to the management, when Ayeni became aware in September 2020 that Captain Okunbo had health issues and was undergoing treatment in London, he “has since then started making false claims that he is still a part of OMS.” Ayeni was also accused of peddling misinformation to the Nigerian Financial Intelligence Unit, NFIU, about the spending in OMS (a company he stopped having any ties with since 2018) without a full understanding of how security companies work in Nigeria. A top official of OMS said, “Ayeni has never been part of management so he never understood how we work. It is like questioning the security vote of a state. All he was interested in was money without caring about the company. The chairman loves Ayeni like a brother and was always there to protect him against all odds not knowing he was the real devil.” The board of the company, the statement noted, has also passed a vote of confidence on Capt Okunbo but described Ayeni as “a meddlesome interloper who is seeking to blackmail Capt. Idahosa Wells Okunbo at this time of his ill-health for financial benefit.”

or a very long time, erstwhile close associates, Captain Idahosa Okunbo and Dr. Olatunde Ayeni were prevented from going at each other’s jugular by friends and family members who made every effort possible to reconcile them. But after both men, last week, decided to pull political strings and deploy their contacts in government in a show of strength, a point of irreconcilable differences appears to have been reached. Supposed allies of Okunbo and Ayeni like Vice President, Prof. Yemi Osinbajo, former President, Dr. Goodluck Jonathan, former Vice President, Alhaji Atiku Abubakar and the National Leader of the All Progressives Congress (APC), Senator Bola Ahmed Tinubu have each made cautious and courteous interventions and other forms of involvement into the costly disagreement over business interests and mega financial transactions that have generated heated divergence of opinion, possible scandals in several ministries, departments and agencies of government and have threatened to topple a delicate balance of political power in the Presidency and a few states of the South-west, which may result in the loss of thousands of jobs. Notwithstanding calls to both men, especially, Ayeni to be decorous and transparent in his account of the transaction, the former Chairman of the defunct Skye Bank (now Polaris Bank) has continued to report a version that is unswerving with his vow to play the victim, whereas incontrovertible evidence show the exact opposite. The bone of contention is the claims by Ayeni that he remains a shareholder of Ocean Marine Solutions Limited (OMS) despite documentary evidence showing he sold his shares in 2018. Ayeni is said to have waited for a time when Okunbo is down in the dumps and has been receiving treatment in a London hospital for the past three months, to churn out petitions and claims that he is still a shareholder in the company. But Counsel to Okunbo, Mr. Augustine Alegeh (SAN), a former President of the Nigeria Bar Association has stated clearly that Ayeni is being unnecessarily belligerent and outlandish in his claims that he discovered “a lot of stealing and diversion as well as gross mismanagement of large sums of money belonging to the company.” Ayeni, may be aware that his past as Chairman of Skye Bank who was accused of giving himself insider loans without collateral and which he could not pay back to Skye Bank may have returned to haunt him, has taken the fight to Okunbo, while positioning himself as the victim. The former bank chairman knows that his story will be viewed with distrust by many. He was a strong financial pillar to the Peoples Democratic Party (PDP) and was said to have doled out billions of Naira in the bid to return Jonathan as President. Ayeni allegedly borrowed tens of billions of

Supposed allies of Okunbo and Ayeni like Vice President, Prof. Yemi Osinbajo, former President, Dr. Goodluck Jonathan, former Vice President, Alhaji Atiku Abubakar and the National Leader of the All Progressives Congress (APC), Senator Bola Ahmed Tinubu have each made cautious and courteous interventions and other forms of involvement into the costly disagreement over business interests and mega financial transactions that have generated heated divergence of opinion, possible scandals in several ministries, departments and agencies of government and have threatened to topple a delicate balance of political power in the Presidency and a few states of the South-west, which may result in the loss of thousands of jobs. Notwithstanding calls to both men, especially, Ayeni to be decorous and transparent in his account of the transaction, the former Chairman of the defunct Skye Bank (now Polaris Bank) has continued to report a version that is unswerving with his vow to play the victim, whereas incontrovertible evidence show the exact opposite

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T H I S D AY ˾ ͯͯ˜ ͰͮͰͯ

FEATURES

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

A Mother’s Fight for Justice Okon Bassey writes that Mrs. Deborah Okezie, the mother of 11-year-old Don-Davis Archibong, a junior secondary school one student of Deeper Life High School, Uyo, Akwa Ibom State capital, is bent on getting justice after her son was allegedly sexually abused and molested by some senior students

Don Davis

Mrs. Deborah Okezie, the victim’s mother

mother’s love knows no bounds and for Mrs. Deborah Okezie, that love has been sorely tested recently while trying to get justice for her son, 11-year-old Don-Davis Archibong, a Junior Secondary School (JSS) 1 student of Deeper Life High School, Uyo, Akwa Ibom State capital. She recently took to social media to protest the alleged sexual abuse and molestation of her child by two senior students of the school. The Deeper Life High School, Uyo is one of the two campuses of the a co-educational secondary school owned and run by the Deeper Life Bible Church, pastored by one of Nigeria’s influential preachers, Pastor Williams Kumuyi. Matters Arising According to the aggrieved mother, her son was removed from the junior student hostel to senior students’ hostel where he was subjected to serial bullying, stigmatisation, intermittent starvation, as well as sexual abuse. Citing dereliction or negligence of duty, especially by the boarding house master and the school principal, the mother said she first confronted the school principal and she expressed surprise but promised to look into all the complaints. However, she expressed shock that it got worse as confirmed when she went to pick her son for the Christmas break and close of term on December 19,2020. She said they were kept in suspense for about two hours before the boarding master could release him and that was until she threatened to forcefully enter the hostel, in fear that maybe he had passed on and the school authority lacked the courage to inform them. When Don Davis eventually came out, he could not walk alone and he was assisted by some persons. Upon enquiry from their son for the reason for such delay to release him, he told his parent that he had been subjected to some medication that morning of December 19, 2020, to activate his strength and energise him while other students were being released to their respective parents. According to his mother, he was rushed for treatment in a private hospital in Uyo

ignore me, that I was trying to blackmail the school that is why I’m bringing it on social media, so that the whole world would see”. She alleged that the principal had removed her from the school’s whatsApp group platform for daring to bring the matter to the public. Don Davis’ Story Days after he was taken to the hospital for treatment, Don Davis with support from his mother, regaled Nigerians with his gory story in the hands of his purported victims. In a Facebook live with his mum, Don Davis said he began to suffer physical assault from one of the teachers because he was bedwetting. ''When I got to Deeper Life school, because I bedwet, Mr Akpan uses belt on me. He uses any thing he sees, even if it is iron, belt, or he can even use stone. Because I bedwet, they transferred me from JS1 dormitory to SS1 dormitory. “There were two boys named Ola and Shalom, they used to put their hands inside my anus, bring out feaces and then use that same hand to beat me. For two weeks I did not have my bath.” When asked why he didn't report the assault to the school authorities, Don Davis said Ola and Shalom, both SS1 students, threatened to kill him if he should ever report them.

Commissioner for Information and Strategy, Mr. Ini Ememobong for wounds he got from weeks of sexual molestation from his seniors believed to have assaulted him using toes and fingers to poke his anus. "They will remove his boxer and push their legs and hands into his anus. Look at a child I sent to school, he came back with a broken anus. They frequently starve and beat him up by the senior students,” she revealed in a viral video. Initial Reaction of the School Okezie, in the social media video that has gone viral, alleged that the principal of the school, Mrs Ndidi Solomon led a team of officials of the school to visit her in a private clinic in Uyo where the victim was receiving

medical attention then and pleaded with her not to escalate the matter so they can settle the medical bills for the treatment of the child, an agreement that soon went south. According to Okezie, she was forced to post the video and photos of her emasculated child on the social media in order for justice to be done. In the video she posted on facebook, Okezie lamented that the principal and the school management were desperately working to sweep the matter the carpet. “The school principal, Ndidi Solomon called me and pleaded with me not to escalate the matter, and that the school was going to pay for the treatment. Now, she has turned out to deny, and telling people that they should

Deeper Life Reacts Following the hullabaloo the surrounding the story, the authorities of the Deeper Life High School issued a statement on the incident on their stance and interim measures taken prior to a full scale investigation. The school said: “We will like to categorically restate that Deeper Life High School is built on the core values of godliness and excellence and will not tolerate any immoral act or molestation of any student. “We believe parents and guardians enrol their wards in our schools all over the country because of the strong perception that ours offers a sure-footed platform for moral armament and academic excellence. “We want to assure the general public that investigations into the case have commenced and no culprit, whether staff or student, will be spared if found culpable at the end of

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FEATURES

Former Commissioner of Education, Enobong Udeme-abasi Mbobo, who initially handled the case

Commissioner for Education, Nse Udo Essien the exercise. As an interim measure and to underscore the seriousness we attach to higher superintending values, the school principal has been suspended summarily even as further investigations continue. “We firmly assure the discerning public that the overall outcome of the investigations will be made known and appropriate disciplinary actions will be meted to all culprits in this unfortunate act that admittedly threatens to case unnecessary aspersions on a unique institution that has been a shining example to all over the years.” State Government Mediates Reacting to the Okezie’s post on facebook, the Akwa Ibom State government directed the State Commissioner for Education to investigate the matter. A statement signed by the state Commissioner for Information and Strategy, Mr. Ini Ememobong reiterated the commitment of the state government to the protection of children in the state. “The state government has noted with great concern, the complaints by a parent whose child is a student of Deeper Life College, Uyo. The complaints gleaned from social and traditional media, relate to the maltreatment and abuse of their child, which occurred at the said school”. “Consequently, the Governor of Akwa Ibom state, Mr. Udom Emmanuel has directed the Honourable Commissioner for Education to immediately investigate these complaints and take necessary action. The state government is committed to the protection of children wherever they may be within its jurisdiction.” Afterwards, the state government said the outcome on its investigations into the alleged molestation of victim would be released soon. He said the panel of inquiry up the state government by would limit itself only to the administrative aspect which it has locus standi. Ememobong said, "the investigation is ongoing . The allegation borders on criminality. Therefore, the panel of the state government by the Ministry of Education would handle only the administrative part. The part they have locus on. Very soon a full and comprehensive report will be coming out." Police Step In But in the latest development, the Akwa Ibom State government transferred the case to the police for a more discreet investigation. A statement from the Commissioner of Information and Strategy, noted that government is committed to unravelling the truth behind the sexual abuse allegation of the 11-year-old boy, stressing that any who is found of wrongdoing would be prosecuted. The state government urged members of the public to be patient since the executive council had met over the matter and the

High School, including two minors, were arraigned but six of them were eventually granted bail pending January 20, 2021 when there will be a further hearing on the case by the presiding Magistrate of the court in Uyo. Meanwhile, the magistrate therefore issued warnings to all the parties involved in the case to keep off from vulnerable media comments that may negatively affect the court proceedings. Four of the accused persons were granted bail of N500,000 while the two minors (accused senior students of the school), were released to go meet their parents. Those arraigned include Mrs. Ndidi Solomon (School Principal), other staff members include Joseph Nseabasi, Akpan Johnson, Egor Wilson, Joseph Ikenna. They were arraigned at the Magistrate’s Court based on four count charges such as sexual molestation, maltreatment, starvation, and negligence. When the case was read, counsel to the accused applied for bail for them, noting that the alleged offence is bailable.

The suspended principal, Mrs. Ndidi Solomon case transferred to the police for a thorough investigation. Emmemobong disclosed that the sexual abuse case of the 11-year-old boy had also been placed under the care of the Sexual Assault Referral Centre in Akwa Ibom for further medical investigation. He said the victim’s parents and other interested parties had given their consents for the boy to be taken to the referral centre at Immanuel General Hospital, Eket. The Information and Strategy Commissioner said the then Commissioner for Education, who has been investigating the alleged sexual abuse on behalf of the state government, was advised by the Attorney-General and Commissioner for Justice to hand over the case for the police to investigate. The commissioner of education has since been replaced by Nse Udo Essien. He revealed that apart from the police, other organisations like the United Nations Special Rapporteur on Human Trafficking, Mirabelle Center, FIDA Akwa Ibom, Sexual and Gender-based Violence Response Unit of the Ministry of Justice, Akwa Ibom State, are interested in the case.

Police Investigation Acting on the petition from the aggrieved mother, the Akwa Ibom State Police Command commenced investigation into the matter. The police, in a statement issued January 5, 2021, said Okezie, alleged that her son, Master Don-Davis Iniobong was inhumanly treated, sexually molested and suffered starvation. The petition was against Mrs Ndidi Solomon, aged 45yrs and three others. Based on the petition, the Police Public Relations Officers of the state police command, SP Odiko MacDonald said the Commissioner of Police, CP Amiengheme Andrew ordered a discreet investigation into the matter and m enjoined all parties involved to exercise restraint pending the outcome of the investigation. He assured the people of Akwa Ibom State that no stone will be left unturned in unraveling the truth, and that the outcome of the investigation will be made known to the general public. Arraignment Days after, a few staff of the Deeper Life

Demands Meanwhile, earlier, the lawyer to the parent of the boy, David Okokon of Eagle-Eyes Network Chambers, wrote to the school demanding the payment of N100 million, as compensation for the dehumanising torture and indignity that Davis was subjected to and for his medical checkup and medication. The counsel, in the letter dated December 22, 2020 equally demanded that the Deeper Life High School Idoro, Uyo to publish a public an unreserved apology to his client in two national newspapers; PUNCH, THISDAY and any other two local newspapers circulated within Akwa Ibom State and its environs. Captioned “Gross Child Abuse, Palpable Molestation, Serial Bullying, Criminal Starvation, Malicious oppression and Dubious Maltreatment of Master Don-Davies Archibong (11years old) by the Principal and Boarding Master of Deeper Life Secondary School, Uyo”, The letter reads in part, “we are solicitors for Mr and Mrs Iniobong Archibong, resident in Uyo, Akwa Ibom State hereinafter referred to as our client. We have the firm explicit and unequivocal instructions to write to you on the above subject matter. "It is indeed provocatively heartbroken, morally suicidal, religiously hypocritical that our clients’ 11-year-old son was torrentially bombarded with physical, and inhuman torture of debilitating dimensions with resultant castration of his human person, dignity, and childhood innocence. “We respectfully demand the payment of N100,000,000 within 21 days upon the receipt of this letter as compensation to assuage the dehumanising, horrendous torture and indignity our clients’ son was subjected to and for his medical checkup and medication.”

MONDAY JANUARY 11, 2021 •T H I S D AY

MONDAY JANUARY 11, 2021 • T H I S D AY

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MONDAY JANUARY 11, 2021 • T H I S D AY

MONDAY JANUARY 11, 2021 •T H I S D AY

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BUSINESSWORLD

Group Business Editor Obinna Chima

Email obinna.chima@thisdaylive.com 08152447875

Ͷ ˜ Ͱ ͮ Ͱ ͯ MONEY MARKET OVERNIGHT OBB

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Quick Takes CIBN Holds National Economic Outlook

CAPACITY BUILDING

L-R: Head, Legal Department, Asset Management Corporation of Nigeria (AMCON), Mr. Albert Nwanozie; Executive Director, Dr. Eberechukwu Uneze; Hon. Justice Inyang Ekwo of the Federal High Court, Abuja Division; Group Head, Enforcement, Mr. Joshua Ikioda, and Head, Corporate Communications Department, Mr Jude Nwauzor, at the opening day of a two-day training for FHC Legal Assistants and Court Registrars in Abuja…recently ETOP UKUTT

McKinsey Foresees Bright Prospect for Nigeria, Others’Insurance Sector Obinna Chima

ECONOMY

McKinsey & Company, a global management consultancy services company, has described the insurance sector in Nigeria and some other countries in Africa as one of the world’s hot regions for insurance penetration. The global firm stated this in a report titled: “Africa’s insurance market is set for takeoff.” It noted that steady economic growth in most countries combined with a largely underdeveloped insurance sector have positioned the continent as the second-fastest-growing region for insurance globally after Latin America. Prior to the impact of COVID-19, the insurance market was expected to grow at compound annual growth rates (CAGRs) of seven per cent per annum between 2020 and 2025, nearly twice as fast as North America, over three times that of Europe, and better than Asia’s six per cent, it stated. However, it pointed out that the pandemic which had profoundly affecting both lives and livelihoods, has seen consumers cutting back

on discretionary expenditure— including insurance—in the face of income and market volatility. “However, this impact is expected to delay rather than alter the pattern and potential of future growth. And in some cases, the crisis may accelerate existing trends—notably the shift toward digital and remote channels, which has the potential to offer new opportunities to both insurers and consumers. “We believe that a strategic approach that takes into account the unique characteristics of African markets and looks to collaborate with regulators to drive reform and safeguard consumers could unlock significant value not just for industry players but for society more broadly at this critical time. “The African insurance market’s immaturity points to significant scope for growth Africa’s insurance industry is valued at about $68 billion in terms of GWP and is the eighth largest in the world—although this is not equally distributed across the

continent.” Furthermore, the report noted that markets in the region have been inconsistent in terms of size, mix, growth, and degree of consolidation, with 91 per cent of premiums concentrated in just ten countries. South Africa, the largest and most established insurance market, accounts for 70 percent of total premiums. “In the Southern Africa region, 54 percent of premiums are for life insurance. Non-life insurance, however, plays a larger role in Anglophone West Africa, North Africa, East Africa, and even more so in francophone Africa. “The level of maturity in these six regions is low, relative to global reference countries, as measured by insurance density (premium per capita). “While most African countries have experienced double-digit insurance growth in CAGR in local currency over the last five years, this has mostly been driven by economic growth, rather than deepening market penetration,” it added. According to the report, levels of

insurance penetration in Africa are half the world average measured as a percentage of Gross Domestic Product (GDP), and premiums per capita are 11-fold lower than the world average. It further stated that the bulk of growth in Africa was likely to come from pensions and individual life insurance— which is the fastest growth line of business on the continent, although starting from a smaller base compared to non-life insurance. According to the report, while motor insurance is the largest contributor to non-life insurance—driven by requirements for a compulsory minimum level of insurance, often thirdparty liability in countries like Morocco, Kenya, Nigeria, and Egypt—accident insurance, health insurance, and property insurance have all shown faster growth in recent years. The prospects for growth in commercial lines are also good, it stated, noting that in Nigeria, for example, commercial insurance has performed strongly, with oil Continued on page 28

Equities Market Sheds N79bn on Profit-taking in Bellwether Stocks Goddy Egene The Nigerian equities market shed N78.7 billion in the first week of 2021 as a result of losses suffered by bellwether stocks due to profit-taking by investors. Having closed 2020 after a stellar run performance that pushed annual return to the highest in at least a decade, some level of profit taking was expected in the new year. Consequently, market capitalisation shed N78.7 billion to close at N20.978 trillion, while the Nigerian Stock Exchange (NSE) All-Share Index (ASI) depreciate by 0.37 per cent to close at 40,120.22.

CAPITAL MARKET Despite the decline last week, analysts said sentiments still favour the equities market as investors await dividend declaration for the year ended December 2020. “In the short term, we believe positioning for FY 2020 dividends will continue to support buying activity in the market amid negative real returns in the fixed income market even as we do not rule out intermittent profit-taking. “However, we advise investors to take positions in only fundamentally justified stocks

as the weak macro environment remains a significant headwind for corporate earnings,” analysts at Cordros Securities stated. Also, analysts at Greenwich Merchant stated that they expect sentiment to remain favorable in the equities market, noting that positive sentiment would persist amidst the unattractive fixed income yield environment. “At the same time, we think profit-taking activities will buck the uptrend observed in overvalued counters. Ultimately, we expect the market would likely trade range-bound in the coming week, as we do not foresee a strong

shift in the course of the market,” they added. In terms of market turnover, investors traded 3.394 billion shares worth N19.867billion in 26,808 deals compared with 1.806 billion shares valued at N25.966 billion that exchanged hands in 14,634 deals in last week of 2020. The Consumer Goods Industrial led the activity chart with 2.026 billion shares valued at N7.503 billion traded in 4,031 deals; thus contributing 59.7 per cent and 37.8 per cent to the total equity turnover volume and value respec-

The Chartered Institute of Bankers of Nigeria Centre for Financial Studies (CIBNCFS) in collaboration with the B. Adedipe Associates Limited are set to hold a roundtable session on the seventh National Economic Outlook, with the theme: “Implications for Businesses in Nigeria in 2021.” According to a statement, the annual event is typically held with the aim to engage all stakeholders in key sectors of the Nigerian economy and elicit implementable government policies. The forum also typically discusses topical and emerging issues in the banking industry and economy as well as their implications for businesses in the coming year. It stated that the seventh edition is particularly significant as the impact of the coronavirus pandemic on key sectors of the economy in 2021 would be examined. Furthermore, avenues on how businesses in key sectors could survive and grow despite the rough terrain would also be tackled. The virtual event scheduled to hold on Tuesday, January 19, 2021, would feature carefully selected subject matter experts who would share their insights on the preceding year as well as practicable solutions for businesses in the current year. It added that subject matter experts to feature include Dr. Doyin Salami, Chairman, Presidential Economic Advisory Council who would deliver the keynote address. Other panelists are Amb. Ayoola Olukanni, Director General, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA); Mr. Ayodeji Balogun, CEO, AFEX Commodity Exchange; Mr. Akeem Lawal, Divisional Chief Executive, Interswitch; and Mr. Johnson Seinde Samuel, MD/CEO, Infinity Paint International Limited among others would participate. Expected participants at the event include staff of financial institutions (regulatory institutions, deposit money banks, development banks, microfinance banks, insurance companies, capital market operators, etc.), academics, government ministries, departments and agencies (MDAs), NGOs and other key stakeholders in the Nigerian economy.

Tesla Market Value Crosses $800bn

Shares of Tesla Inc. jumped as much as 5.6 per cent on Friday, pushing the electric-car maker’s market capitalisation to more than $800 billion for the first time ever and inching closer to the trillion dollar club. Tesla’s stratospheric rally had helped its Chief Executive Officer Elon Musk surpass Amazon.com Inc’s top boss Jeff Bezos to become the world’s richest man, Bloomberg had reported. According to Reuters, at Friday’s trading session, Musk’s 21 per cent stake in the automaker as per Forbes contributed more than $170 billion to his net worth, dwarfing the combined market capitalisation of General Motors, Ford Motor Co and Fiat Chrysler Automobiles, the three Detroit automakers. In the previous session,Tesla’s market value crossed $774 billion, making it Wall Street’s fifth most valuable company, just behind Google-parent Alphabet Inc and ahead of social media giant Facebook Inc. The company’s fortunes is an anomaly as the 17-year-old automaker has production that is just a fraction of large rivals by sales such as Toyota Motor, Volkswagen and General Motors.

GM Changes Brand Logo

General Motors on Friday unveiled a new corporate logo, its first major logo change since 1964, as part of a new campaign to accelerate the automaker’s focus on electric vehicles (EVs). The “m” in the new GM logo is a nod to the shape of an electrical plug, Reuters quoted the company to have said. The campaign includes a previously announced $27 billion investment in EV and autonomous vehicles (AV) through 2025 and the launch of 30 new EVs by 2025-end. “There are moments in history when everything changes. Inflection points. We believe such a point is upon us for the mass adoption of electric vehicles,” said Deborah Wahl, GM global chief marketing officer. GM said it would launch a new website on January 11 that will focus on the automaker’s work across electrification and autonomous driving.

“It should be clear to all that the regulator must be allowed to perform its function without undue interference. The role of the government is not to set tariffs, it is to provide policy guidance and an enabling environment ” Minister of Powe,

Continued on page 28

Mr. Sale Mamman

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BUSINESSWORLD MCKINSEY FORESEES BRIGHT PROSPECT FOR NIGERIA, OTHERS’ INSURANCE SECTOR and gas growing at nine per cent per annum and marine and aviation at 10 percent per annum between 2014 and 2018. “In 2018, oil and gas insurance and marine and aviation insurance accounted for 34 per cent and 11 per cent, respectively, of nonlife gross premiums in that country. In Ghana, the Ghana Oil and Gas Insurance Pool (GOGIP) almost doubled from $25 million in 2016 to $48 million in 2019 and represents approximately 15 percent of total nonlife premiums in that country. “Insurance in Africa is on the move, and several trends show promise for the sector. Our analysis highlights five that will be pivotal in determining how the sector evolves in a post-pandemic world. “And where penetration is occurring, it is mostly accompanied by structural reforms. Market liberalisation and deregulation, the enforcement of compulsory insurance, increased access through wider distribution, public–private partnerships, and regulation to support innovation and access have all been shown to build consumer trust and develop more resilient insurance industries with better-protected populations in comparable markets. EQUITIES MARKET SHEDS N79BN ON PROFIT-TAKING IN BELLWETHER STOCKS

tively. The Financial Services Industry followed with 939.288 million shares worth N7.820 billion in 14,020deals, while the third place was Conglomerates Industry, with a turnover of 139.882million shares worth N182.151 million in 885 deals. Trading in the top three equities namely Champion Breweries Plc, Transnational Corporation of Nigeria Plc and Access Bank Plc accounted for 2.144 billion shares worth N6.002 billion in 1,971 deals. Meanwhile, 50 equities appreciated in price during the week while 21 equities depreciated in price. Japaul Gold Ventures Plc led the price gainers with 56.4 per cent.

NEWS

‘Nigeria Loses $450m Annually to Adoption of Foreign Cloud Computing Services’ Raheem Akingbolu The Managing Director of Cloudflex Computing Services Limited, Aderemi Adejumo has urged federal government to enforce local policy on cloud computing to safe cost and boost the economy. Adejumo, revealed that Nigeria losses $450 million yearly to the adoption and usage of foreign cloud computing services such as Amazon Web Services (AWS) and others which Nigerian banks, financial institutions and relevant agencies subscribe to on a regular basis. The expert, who made the statement while speaking on a radio programme in Lagos tagged, “Financial Matters”, sponsored by the Fidelity Bank Plc on Hot FM 93.3 Lagos, noted that Nigeria losses such a huge amount to the foreign land despite the formulation of Nigerian Cloud Computing Policy which meant to address capital flight, among other issues that retard the nation’s growth in the area of cloud computing system and services. Speaking on the programme, Adejumo said: “Cloud computing has no boundaries, it has no borders. I believe that here in Nigeria, Cloud computing is worth about $500 million a year, and 90 per cent of that is actually spent outside Nigeria, that is the

biggest challenge we have. “NITDA (National Information Technology Development Agency) at a time had the Minister of Communications and Digital Economy (Isa Pantami) as its DG, and under his leadership, they created what was called Nigerian Cloud Computing Policy (NCCP), but it wasn’t enforced. “Also, my criticism about the policy is that it doesn’t address

the core issue and the core issue is data localisation. What I mean by that is that their focus is MDAs using the cloud that was their focus. “But not the localisation of data and I say If you take the industries that are being regulated or affiliated to the Nigerian Authorities, you have got CBN, PenCom, NAICOM, NNPC, so anybody that is related to that should be under those laws and

jurisdiction because they related to Nigerian economic success. “Let’s say $500 million is being sent out of the country rather than being spent within the country, and this is so, because if you are on Cloudflex, you pay in Naira but if you are on AWS (Amazon Web Services), you pay in Dollar, so, that precious resources that are going out could be avoided. “So, that is core and the biggest issue. For me it is great that

you have former DG of NITDA, who has the great understanding now as the Minister, so greater power and wider responsibilities. I know there is a lot they are trying to do because they have many issues with right of way, issue of connectivity, issue of improving things and Cloud computing is one aspect of it, it is interwoven and if you succeed with this, you will then succeed with other things.”

CSR-IN-ACTION

L-R:ExecutiveDirector,MarineandOperations,NigerianPortsAuthority(NPA),OnariBrownand Chairman,JosepdamPortServicesNigeriaLimited,Saheed Kuteyi, during the donation of computer systems and office gadgets by Josepdam after the attack on NPA’s headquarters in Lagos during #EndSARS protestinLagos

Businessman Calls For Review of NBC Codes Sylvester Idowu in Warri The Managing Director of DAS Energy Services in Udu, Delta State, Mr. Sunny Onuesoke has called for the review of the codes of Nigeria Broadcasting Commission (NBC). He said the call became necessary to avoid the Commission’s alleged present biases against private media houses thus making it an “irregular” regulator. Onuesoke, who was reacting to question at Asaba, Delta State on the over bearing of NBC on private stations recalled that NBC, which was established by Decree 38 of 1992, to register, regulate and

control broadcasting in Nigeria, had derailed from its functions. He maintained that it was unfortunate that it has been established that the commission had derailed from its original functions by serving as an agent of government thereby beclouding its agenda of pluralism in the broadcast sector. Onuesoke, a former Peoples Democratic Party (PDP) governorship candidate in the state, explained that in order to uphold democratic principles in Nigeria, it would be pertinent to adopt the principles of the libertarian theory by reviewing the Nigerian Broadcasting Code and its application,

and create an equal competitive atmosphere for all and sundry, adding that this will be in line with the international standard that preaches against indecent content for equal opportunities and the fairness doctrine. He noted that the inability of NBC to exercise its duties independently rests on the fact that the power to issue licenses is with the President, and not the Commission, stressing that the laws erroneously gave the Commission too much powers making it a regulator and an arbitrator which made it to commit some fundamental flaws that places the country far behind other nations

in terms of positive regulation. “Does the constitution grant the power to the NBC to accuse, try and sanction the media without recourse to the law courts? Where is the constitutionally guaranteed right to fair hearing? Who determines whether an item is offensive or it is within the ambit of free speech and the right to know? Surely, the NBC’s action is highhanded and must be reversed. In a more litigious society, the law courts would have been brimming with cases against the NBC,” he stated. The PDP Chieftain argued that rather than stoke the fire of suspicion between government

and the media, NBC must be cautious in carrying out its regulatory function, adding that the responsibility of NBC is, first of all, to the people and not necessarily to any reigning government or its officials. Onuesoke who stated that NBC must not give any impression of being used for partisan ends, stated that for some time now, the Minister of Information and Culture, Alhaji Lai Mohammed whose ministry supervises the NBC has not hidden his desire to regulate social media through one form of legislation or the other under the guise of fighting fake news and hate speech.

AfDB Appoints Director Generals, Deputies for Regional Offices Peter Uzoho

Group Business Editor

Obinna Chima

Capital Market Editor

Goddy Egene

Comms/e-Business Editor

Emma Okonji

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

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

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

The African Development Bank Group (AfDB) has announced the appointment of Directors General for the East, Central and Southern Africa regions and Deputy Directors General for the East, Central, Northern, Southern and West Africa regions. According to a statement, Serge N’Guessan, was appointed Director General, Central Africa Region. As Director General, Serge will drive and ensure the operational efficiency, effectiveness and overall health of the Bank’s portfolio across the Central Africa region. He will also spearhead regional business development and investment, driving resource mobilisation across the countries under his remit and growing the business of the Bank significantly. Serge, a Canadian citizen, is a professional with over 30 years

of experience in international development and portfolio management, who has held important representation roles within the Bank for almost 10 years. Also, Nnenna Lily Nwabufo, was appointed Director General, East Africa Region, by the AfDB. In her new role, she will be responsible for leading and advancing the Bank Group’s strategic objective of achieving significant and transformational developmental impact in thirteen countries in East Africa by ensuring operational efficiency, effectiveness and an overall healthy portfolio in the region. Specifically, she will lead high-level dialogues at country and regional levels and across Bank sector complexes as well as oversee the full implementation and integration of all aspects of the Bank’s work in the region. A Nigerian citizen, Nnenna is a versatile and seasoned executive

with over 30 years’ professional experience in treasury and financial management, budget programming, planning and performance management, human resource and corporate services management, and country/regional operations. In the same vein, Leïla Farah Mokadem, was appointed Director General, Southern Africa Region of the AfDB. In the new role, she will drive high-level dialogue and Bank’s operations, ensuring the Bank operates efficiently, effectively and successfully in the relevant countries, within the region. A Tunisian national, she is a seasoned professional in International Finance. She has over 25 years of experience with multilateral development banks and international institutions. The AfDB also appointed Dr. Solomane Koné as Deputy Director General, Central Africa Region. He is a national of Côte d’Ivoire

and has been Acting Director General for the Central Africa Region since January 2020, as well as Country Manager for the African Development Bank’s Office in Cameroon. In these capacities, he was involved in high-level strategic country and regional dialogue with different stakeholders, governments, and other development partners, including co-financing arrangements and donor coordination particularly in the context of the Regional Economic and Financial Reform Program of the Economic and Monetary Community of Central Africa (PREF-CEMAC). In addition, the AfBD appointed Dr. Abdul B. Kamara as Deputy Director General, East Africa Region. A citizen of Sierra Leone, he is currently the African Development Bank Group’s Country Manager for the

Federal Democratic Republic of Ethiopia. He is a development economist with over two decades of experience in development policy research, development financing and policy work on Africa’s economic transformation and development. Malinne Blomberg, was also appointed Deputy Director General, North Africa Region. A Swedish citizen, she a seasoned finance professional with solid experience in developing strategies, providing advisory services, and executing operations for results in both the public and private sectors. She has over 15 years of experience in development finance, gained largely from serving the Bank since 2008 when she joined the Water and Sanitation Department as Financial Management Specialist and later was in charge of its Division covering West and Central Africa.

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Balogun: Why Nigeria’s Investment Environment Must Be Conducive The Chief Executive Officer of Chapel Hill Denham and Chief Investment Officer of the Nigeria Infrastructure Debt Fund Mr. Bolaji Balogun, in this interview on ‘The Morning Show’ on Arise Television spoke extensively on the need for increased investments in infrastructure in the country. Nume Ekeghe presents the excerpts:

an you speak on infrastructure in Nigeria and the investment climate amidst various headwinds like the coronavirus pandemic, oil prices and other sundry issues in the world at large? I hope that 2021 is the year the leadership of our economy recognise the importance and urgency in this market place and when also our political leaders recognise that they have to be more considerate in terms of the 200 million people who leave in this country and that is where would really like to start. Between last year and this year, we probably added another five million to six million people to Nigeria’s population and when you think of what we have added in terms of real factor investment into the economy, it is completely insignificant. And when you think about Nigeria and you understand Nigeria’s challenges, there are really fundamentally three simple ways in which you are going to lift 100 million out of poverty. The first is really investment led, which is to look at the base of infrastructure in the economy, recognise that there are weaknesses in power, weaknesses in transportation networks and we have this incredible blessing of natural gas to which we have no gas infrastructure or energy infrastructure to convert it into energy and then money. Over and above that, we have this unbelievable blessing of young and talented people and we do not have the broadband and infrastructure that young talented people feed on. So, first and foremost, we have got to do something about our infrastructure and we have got to do it like yesterday. The second issue is to recognise that people who have no financial literacy and people who do not save or invest absolutely have no chance of lifting themselves out of poverty. Financial education or financial literacy is not a complicated thing and all of our financial operators in the market plus the government must recognise that when you look at Nigeria’s low investment and savings per capita, we have to do something about it. And that even those who don’t have can save. It is really about knowledge, discipline and science. You do not have to be wealthy to save that is one of the biggest myths we have to make people aware of that you can start small with little sums you have. And you need to understand the benefits of saving early, benefits of compounding and what it can do to your wealth no matter how small. And I think it is incumbent on the people that regulate our financial services sector that every single firm that operates in Nigeria’s financial service sector be it a bank, investment bank, insurance or pension fund manager we all have obligations to contribute to financial education. If people are financially literate to a large extent, they have a chance. The third element that we are going to have to fix is to do something very urgently about Nigeria’s educational system. People who have education have hope and if there is nothing the #ENDSARS crisis thought us it is really the fact that for the very first time in Nigeria’s recent history, people are lashing out because of the hopelessness which has never happened in this country. This is a country where if you have some ability it doesn’t matter who you are or how you were born, you would have a chance. So, this is probably the first time in our economic and social history that as a nation if you are talented and prepared to work hard, it is not enough. And that is not just acceptable. So, how are we going to ensure firstly that our education system into which there is very little investment outside of paying salaries essentially prepares our children for this 21st century and how are going to ensure that every young Nigerian growing up has the ability today to understand what would help them in a primarily digital environment. You and I think of education in a traditional paradigm of when we grew up and we had to gather together under a tree or in a classroom to be taught by somebody. But have you ever thought of a mobile device as a delivery channel for education? There are young people in Nigeria today and all over the world who have never been to formal schools and are able to do things like coding because they learnt it on YouTube or able to cook and speak languages that are not their mother tongue by learning on

Balogun YouTube. So, this is an opportunity every Nigerian child must have and this is why infrastructure and broadband infrastructure is so critical. As we try to make sense of the economic outlook for 2021, I would like you to comment on the 2021 budget which the president signed into law. Do you think the budget is a realistic one especially with relations to development in infrastructure? The first thing we must come to is the reality which steers us in the face for a number of years. If you look at the numbers, this is probably our biggest budget and this budget basically translates to about six to seven per cent of the nation’s Gross Domestic Product (GDP). That means that the government as a factor of the economy is small and is becoming less and less relevant. Then, if that is the case and 94 per cent of the economy is the private sector and enterprise, what the government must do is to recognise that you have to regulate, but in regulating, you would need to get out of the way and allow private capital and private enterprise really to drive things. That is because first and foremost, not only are you insignificant because if you put N100 through the economy or government, only N23 or N24 of that N100 is going to finance development and growth; N75

Over and above that, we have this unbelievable blessing of young and talented people and we do not have the broadband and infrastructure that young talented people feed on

or N76 of that N100 is either paying government salaries for less than half a million employees or is servicing debt. So, the reality is that government’s wallet is inadequate. Once you recognise that government’s wallet is inadequate, what you must do is to behave like a market and an economy that wants to attract capital. And that capital starts of as domestic capital. You need to treat your domestic businesses well and large owners of businesses should not feel that they live in an environment where the government is against them and does not want them to prosper. That is because by the way, there are 10 million people in employment in Nigeria and government employs less than one million of them. So, who is creating the jobs? It is the private sector. So, who is doing the investments? It is the private sector and you sit there think that the government is investing in infrastructure. But if you take off all the power plants that seats in private businesses, from Shell to Dangote cement to Lafarge or MTN, Airtel, the first thing you are going to find is that they are generating far more power than is coming out of the Discos and Gencos that are part owned by the government. So, already today, with the exception of roads, airports, rails, and when you think about power and gas networks that function, broadband or transportation, the private sector is already a big factor. So, why don’t you then recognise that if I have to channel where if I spend N100 an let’s even say 20 per cent leaks and 80 per cent is going into investments and development, whereas if you put it through this government channel, 76 percent of it leaks, what do right thinking people do? I think the answer is quite clear. You have identiﬁed the challenges and solutions but what is driving the disconnect? You and I can get an ingredient to cook the same pot of stew and we might both stay in the kitchen for 30 minutes and we cook the stew but because I put pepper before the onion and oil, my stew would taste different from yours. What I would say simply is that for the first time in Nigeria’s recent economic history and probably for the first

time since the last 70s and early 80s everybody understands what the big issues are, but what we need to do is to go from an understanding of the big issue to understanding what the prioritisation of those issues are. The prioritisation of it is that you have to start off with a massive, rapid sustained investment in your nation’s infrastructure. And that the massive sustained investment in your nation’s infrastructure is typically financed in local currency because if you don’t do that, all you end up doing is impoverishing your nation. That is because you are creating all this infrastructure, you are financing it in dollars, the users are paying in naira and every year your currency is devaluing against the dollar. So, you are getting poorer and poorer and your users cannot afford to use all these beautiful infrastructures you have built. You start off with that foundation of infrastructure because infrastructure then brings investments because investors don’t build infrastructure and to a large extent, some investors will focus on infrastructure investing, but investors want to invest on top a base of infrastructure. If you bring power, it would spur manufacturing investment. You would be amazed at how power changes your agriculture from low value which is what we have today to high value because you would now have the ability to process and to preserve all of the agricultural produce you are producing. Good transportation network would bring about the ability to take the agriculture produce from farm lands to tables in the city, airports, seaports, export and thereafter turn into valuable dollars. And this blessing of agriculture that you have which is a factor of your economy that is a lot larger than oil will begin to translate to real money. And it is the same way in areas you don’t think of as investable like education. Education today is about two infrastructure elements - power and broadband. Can you imagine today how a child can get educated in this world without access to internet, it is not just feasible. And any child you are denying access to the internet in 2021 is honestly criminal like not feeding them. You need CONTINUED ON PAGE 26

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BALOGUN: WHY NIGERIA’S INVESTMENT ENVIRONMENT MUST BE CONDUCIVE

Boosting Nigeria’s Maize Output

By Ummi Kabir

Balogun thereafter turn into valuable dollars. And this blessing of agriculture that you have which is a factor of your economy that is a lot larger than oil will begin to translate to real money. And it is the same way in areas you don’t think of as investable like education. Education today is about two infrastructure elements power and broadband. Can you imagine today how a child can get educated in this world without access to internet, it is not just feasible. And any child you are denying access to the internet in 2021 is honestly criminal like not feeding them. You need to solve power and you need to solve broadband. Even in security where our nation has been so incompetent, there are three elements to security. Two are infrastructure-driven and only one is weaponry. There is intelligence and intelligence are all about listening devices and cameras. With listening devices and cameras, you would need to have electricity and broadband because if you can see things moving before they happen and also listen to understand what people are planning, to a large extent you can react. All we are doing is that we are throwing weaponry and men at security. And the most important part of the security infrastructure which actually starts with intelligence is completely defunct and it is not difficult to solve these problems. Today in the Ministry of Solid Minerals that we have this incredible blessing of minerals but they are seating under the grounds and most of them are typically in the middle of the country and they would need to get to a port where someone can pay dollars for them. So, this would need a rail network or some transportation network to ship it. Also, it is not as the mineral comes out from the ground that you would sell it, you need to add value to it and it and that would need electricity. So, every development starts on the base of infrastructure. If you look at the 36 to 38 countries that have industrialised since the end of World War 2, they all went through a rapid, sustained, accelerated, above normal investment in infrastructure for like a decade, they changed the basis and the foundation of the infrastructure platform of the economy and when you do that, it then attracts investments both private and local. So, you have to start off with infrastructure as the foundation and when you start with that foundation, you give the economy a chance. Over the years big business and industries which were large employers have disappeared and a lot can be attributed to government policies. Can you speak on policies being a detrimental effect on businesses? Policies are fundamental and foundational. If you and I look at the north 10 years ago, there were big businesses, NASCO, Peugeot Automobile Nigeria (PAN) in Kaduna, which either do not exists or there is substantial shadow. At one point in time, a business like

United Nigerian Textiles Ltd. (UNTL) used to employ over 130,000 people in this country and I am not sure there are many big businesses in Nigeria today that employ 100,000 people. Now all of these businesses were killed either by infrastructure issues that is they were providing their own infrastructure which meant their cost of production and was going up all the time or government policy left the barriers open. So, it was possible for cheaper imports produced at a bigger volume imported from china to come and destroy their businesses. We have to think about what we do from a policy framework. The first perspective is to recognise that if you don’t have, you have to be welcoming. And pardon me, I hope nobody takes offence if I use an expression like if you are a beggar, you cannot be anything but humble. What I mean by that simply is that we need investments from local businesses. When I think of who the leaders of the economy are, I don’t look to people in government, I look to the leaders of the private sector as the real heroes of our marketplace. The first thing we must do is to recognise that the investment environment must be conducive for those people to continue to put their money in here every single year and that money does not go to investments in other nations or invested in consumerism. The second element is to recognise that as a nation, there is nothing wrong with people who have either built a business or invented something or created jobs being successful. As a nation, we must not make them feel uncomfortable. When your domestic entrepreneurs are comfortable here, this would also attract international investment. Across the world today, there is somewhere around $130 trillion in investments globally and approximately 23 per cent to 25 per cent of that is attracting negative yield or zero yield. In other words, the same scenario we saw at the end of the year where our interest rate got as low as 0.35 per cent is the reality of many nations across the world and Japan is a good example. And all of these people are hunting for a home for that capital. Secondly, many of them also recognise that they need to help Africa not because it is charity but actually because it is the continent of the future. It is where the majority of the world’s youngest people live and these are all aging populations. The second thing is where so much of the world’s mineral and agricultural wealth or natural resources reside and so many of these countries require that mineral wealth either for manufacturing and other needs or they require your agriculture resources for food security. Over and above the fact that they are looking for yield, there are also logical reasons that are important for them to invest in you. The third reason is that they want to invest in you so that you all seat in your nations and you don’t migrate to them.

Maize is one of the most important staple foods in Nigeria and consumed by all in diverse ways. As a crop it can, according to the Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele, grow almost everywhere irrespective of the season in Nigeria. The crop is not only being consumed as food in all regions of the country but has also become a raw material in manufacturing and agriculturerelated businesses within and beyond the borders of Nigeria. It has grown to become a cash crop in the country especially in the southwestern part of Nigeria where at least 30 per cent of the crop land has been devoted to small-scale maize production under various cropping systems. Maize, which is grown in several regions of the world and is referred to as the world best adapted crop, has grown to become the fourth most consumed cereal ranked below sorghum, millet and rice and the third most important cereal after sorghum and millet. Recognized as one of the longest ever cultivated food crops, Maize was introduced to Nigeria in the 16th century and presently the country is the 11th largest producer of the crop in the world. It is the second largest maize producer in Africa, second only to South Africa. The demand for the crop has been on the rise due to the fact that the grain is being used for feeding poultry and also serve as the main food for many households. Maize is used industrially by flour millers, brewers, bakers of bread and confectionery and animal feed manufacturers. Despite its high production volumes, maize farming in Nigeria yields an average of 1.8 metric tonnes per hectare (MT/Ha) which is one of the lowest among the top 10 maize producers in Africa. It lags behind countries such as Egypt and South Africa where the yields are 7.7MT/Ha and 5.3MT/ Ha respectively making it difficult to totally meet the domestic and industrial maize demand. With Nigeria’s population expected to surpass 200 million by 2025, there is an expected increase in the demand for maize for both domestic and industrial consumption, presenting a golden opportunity for farmers and entrepreneurs to take advantage of. However, this opportunity will be lost if there are no right tools that could engender the growth in efficient production of the crop. One of such tools needed is the right funding, particularly for farmers to ensure that they have all that is needed to improve yield per hectare. Funding has always been a challenge for farmers as well as agriculture value chain operators in Nigeria until recently when the Central Bank of Nigeria (CBN) revived some of its agricultural financing schemes as well as new intervention funds to ensure adequate funding for the sector. Among such is the Maize Aggregation Scheme which is a working capital facility that helps Agro-businesses purchase home-grown maize. The Maize Aggregation Scheme which is under the Anchor Borrowers Programme of the CBN has so far been yielding results. Maize farmers across the country have begun the aggregation of maize as farmers in Funtua, Katsina State, last week brought over 33,000 bags (100kg) of maize showcased in pyramids. President of the Maize Association of Nigeria (MAAN), Dr Abubakar Bello, said the association was at the aggravation level where farmers brought their produce as part of their loan recovery. “For the dry season cultivation this year, CBN will support us because we want to bridge the gap created by what happened in the first six months because of COVID-19 and flooding,” Bello said. As the CBN is going to finance about 750,000 farmers with some other commodity associations, Bello said that he expects that the 2020/ 2021 season

will be a very good year for maize production in Nigeria. The MAAN president said the association is targeting about 22 states to commence the 2020/2021 dry season farming with a target of cultivating 400,000 hectares. It hopes to get as many farmers as possible to join the scheme to address the wet season shortfall. On importation of the crop, Bello said there would be no need for maize importation as the demand shortfall is expected to be met by the increased local production. This was corroborated by the Deputy Director, Development Finance Department of the CBN, Mr Elenwor Ihua, who said Nigeria has the landmass, capacity and workforce to produce enough maize that could feed the country but noted that the problem was that the country produced maize in only one season. “What has been happening is because we cultivate maize in only one season; there’s a season where you are going to harvest and there’s another season when there will be no harvest so there will be scarcity of maize. “However, with this initiative that we are carrying out with the likes of MAAN and other organisations, we intend to have at least two circles of production. We have already started preparing for the dry season by the end of December. In January we will have 750,000 hectares, that is going to be a huge boost to the market and at the end of the day, there would not be any need to import maize into the country”, Ihua said. The CBN has taken development financing a notch high in recent times because, like the fiscal authorities, it believes that diversifying the Nigerian economy will not only make her self-sufficient in food production and industrial raw materials, but also create jobs for its teeming youth population. According to Emefiele, the Bank has sustained its intervention efforts in order to help catalyse growth in critical sectors of the economy such as agriculture and manufacturing. This the Bank has done through intervention programmes such as the Anchor Borrowers’ Programme (ABP), the Commercial Agriculture Credit Scheme (CACS), the Bankers Committee Agri-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS) and recently introduced Commodity Development Initiative (CDI), which focuses on developing the value chain of ten focal commodities: Cassava, cocoa, cotton, fish, livestock/dairy, maize, oil palm, poultry, rice and tomatoes. Following successes recorded by the scheme and in line with efforts to boost food production as well as help the country avert the looming economic recession, the CBN recently disclosed that it has set aside about N432 billion to fund the value chains in nine commodities in the 2020 wet season. The Director, Development Finance Department of CBN, Yila Yusuf, said over 1.1 million farmers, cultivating over one million hectares of farmland were expected to benefit from the loans that would help to produce a collective output of 8.3 million metric tons. Yusuf said the focus on the 2020 wet season was to ensure the provision of improved seeds that would incentivise farmers to return to their farms. He maintained that the CBN adopted the value chain approach across all the commodities to ensure that every player along the entire value chain, from the farmers through to the processors, was financed. The CBN’s funding of the ABP for the 2020 season, Yusuf said, was the highest since the inception of the programme in 2015. He said the proposed funding for the nine commodities was a significant move by the CBN, considering the successes recorded in the 2019 season that contributed to shielding Nigeria from any food shortage, particularly rice. Kabir, a public affairs analyst, lives in Abuja

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Nigeria’s Need for a ‘China Strategy’ Chukwuemeka Uwanaka

major socio-economic milestone was achieved recently by China in November 2020, when the country’s South West province of Guizhou announced that its last nine impoverished counties have been lifted out of absolute poverty. What this means is that all the areas and counties of China are officially out of poverty. This achievement fits into the national aspirations of Nigeria, which is currently the country with some of the highest numbers of poor people in the world. Similar aspirations in Nigeria and other African countries have been given fillip by official platforms such as the Forum on China-Africa Cooperation (FOCAC), which takes place every three years, and provides a periodic opportunity for high level interaction between all African Union countries (except Eswatini) and China. Trade between Africa and China has grown from $1 billion in 1980 to $185 billion in 2018, making her Africa’s largest trading partner. The Chinese government pledged $60 billion in aid and loans for the continent at the last FOCAC in 2018. The complimentary construction of the African Union headquarters in Addis Ababa, Ethiopia, by the Chinese government in 2012 can be described as one of the major indicators of increased collaboration between the continent and China. The China-Africa Summit on Solidarity Against Covid-19 was established also to strengthen mutual assistance between both partners. Nigeria and China established formal diplomatic relations on February 10, 1971. Bilateral trade between both countries has risen from $384 million in 1998, to $19.27 billion in 2019. A $2.4 billion currency swap deal, valid for three years, was signed in April 2018 to improve trade relations. In Nigeria, most Chinese economic activities are visible in loans for infrastructural projects. They include the $874 million, 187km Abuja-Kaduna rail, the $1.2 billion, 312km Lagos-Ibadan expressway, the $1.1 billion Kano-Kaduna railway lines and the $600 airport terminals in the major cities of Kano, Abuja, Lagos and Port Harcourt. It can therefore be assumed that Nigeria’s approach towards China is infrastructure driven. While these investments and loans in Nigeria and the continent have been applauded, there are however strong concerns as to the sustainability of bilateral relations between both countries, given the growing level of Nigeria’s financial exposure to China. Also of concern has been the trade imbalance between both countries, with Nigeria importing ten times more than it exports to China, with Chinese cheaper imports costing Nigeria thousands of jobs in the textile manufacturing industry. The lack of a clear and readily available ‘China Strategy’ by Africa’s most populous and largest economy, means that Nigerians are not very clear on how Nigeria should engage with the world’s most populous country and second largest economy. China, in contrast has the ‘Belt and Road Initiative’ (BRI), which is the country’s global development strategy designed to harness the benefits of both international and domestic markets. The country previously had the ‘Reform and Opening-Up’ strategy initiated by Deng Xiaoping, upon assumption of office as Leader of China in 1978. Nigeria has an estimated population of 200 million and Gross Domestic Product (GDP) of $443 billion, while China consists of 1.4 billion people and GDP of $14.9 trillion. What is most visible is a troubling increase in debt. It therefore becomes essential for an attempt to be made in providing some strategic pathways that the constituent parts of Nigeria can adopt in engaging with China, especially in economic matters. China is made up of 31 provincial divisions, which can be grouped into 6 regions of North China, Northeast China, East China, South Central China, Southwest China and Northwest China. Each of these 31 provincial divisions and six regions, has what may be described as their areas of comparative advantage, which when taken together, provides the country with its socio-economic strength. Nigeria in some comparison consists of 36 states and a Federal Capital Territory, which are grouped into 6 geopolitical regions of South-east, North-east, South-west, North-west, South-south and North-central. The 36 Nigerian states and the six regions also have their own peculiarities that come together to make Nigeria what it is.

With these administrative peculiarities in mind, what then will be a strategic approach for Nigeria in its bilateral engagement with China? Attempting a strategic fit between the 6 regions of each country, may be a considered option. This will entail an assessment of the opportunities of each of the provinces and regions of China, to see how each state and region of Nigeria can make the most of such bilateral economic relations. North China is a region that has cities such as Beijing and the province of Hebei, as its constituting parts. Steel production, as well as maize, millet and wheat are some of the products that thrive in the region. Beijing, the country’s capital city and home to both government institutions and a thriving real estate market are also worthy of mention. The preponderance of agricultural activities, presence of Ajaokuta Steel Complex and location of the Federal Capital Territory, Abuja in the NorthCentral geopolitical region of Nigeria, suggests that North-Central Nigeria will be best served strategically with the North China region. The region of Northeast China has hot weather that enables the high yield growth of certain agricultural products such as millet and maize. Bailey, wheat and soybeans are also grown in the region, which also has farmers that rear large quantities of livestock such as sheep. The Armur River contains large fishing prospects. Nigeria’s North-East, North-West and parts of North-Central geopolitical regions, stand to benefit from welldesigned trade strategies with this region. The three geopolitical regions stand to benefit from partnerships that will lead to higher yield of plants such as millet, maize, soybeans and wheat, as well as management of livestock that addresses the conflict patterns between farmers and herders. The management of the Lake Chad for fishing also comes to mind. The regions’ experience with industrialization is also something that Northern Nigeria can benefit from, especially in agriculture and agro-allied based industrialisation. East China is the region by the East China Sea. It is known for high marine life productivity, as well as for its contributions to maritime and shipping traffic for the country. The region with its surrounding waters, also accounts for some of China’s oil and natural gas production. Given this region’s characteristics, the South-South geopolitical region of Nigeria may be the strategic fit for East China. Bilateral relations should therefore be developed by Nigeria Ports Authourity (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA) and Maritime Academy of Nigeria to enhance Nigeria’s fishing and maritime sectors. Such strategic approaches will reduce the incidents of illegal fishing in Nigeria, given that fishing trawlers from the Asian continent are suspected to be principal participants in the illegal fishing on Nigerian waters. The drive to develop more Seaports through the construction of Ibom Deep Seaport, Azumini Seaport, reactivation of the Eastern Ports and construction of Lekki Deep Sea Port in South-West Nigeria can be achieved from such strategic partnership. This region of China, which also contains the tourist and economic city of Shanghai, can provide partnership benefits for tourism locations such as Calabar- with the TINAPA Resort, Obudu Cattle Ranch and Calabar Free Trade Zone in perspective.

The provinces of Guangdong and Hubei are some of the provinces that make up South Central China. This region is known for its high technology, foreign trade, manufacturing, industry and its resultant transportation hub in the world’s second largest economy. It is home to megapolises and large cities. By the features of this region, both the South-West and South-East geopolitical regions of Nigeria are positioned to benefit from strategic partnerships with South Central China. Lagos, Aba and Nnewi as technological cities; Onitsha with trade; and Ogun with manufacturing; are some locations in Nigeria that can make do with the required strategic partnership developed with South Central China. The Special Economic Zones such as the Lekki Free Trade Zone and Enyimba Economic City are also well positioned in this regard. South-west China region contains provinces such as Sichuan and Yunnan, which are some of the more productive agricultural areas of the country. The region is also rich in mineral resources, and is known for textile production and hydropower. The North-Central and North-West regions that constitute the ‘food basket’ of Nigeria, source of hydropower, base for textile production- albeit in decline- and mineral resources, can definitely make do with more precise bilateral relations with Southwest China. Shaanxi and Gansu are some of the provinces that make up the region of Northwest China. The constituent parts of this region are some of the highest producing, in terms of coal, natural gas and crude oil. The region is also known for its high technology sectors such as aerospace, auto parts and electronics. Given the role that companies such as Innoson Vehicle Manufacturing Co. Ltd has played in auto manufacturing and provision of aero parts for the Nigerian Air Force, as well as proven coal exploits and deposits in Enugu, the South-East region of Nigeria constitutes a strategic fit for Northwest China. The South East of Nigeria is also rich in natural gas and crude oil. These approaches can come with its implementation limitations, and the sub-propositions explained, are by no means exhaustive. However, the goals of attaining more value in non-oil sector of Nigeria for increased job creation and socio-economic stability can be best attained through cogent strategic approaches. The Chinese economic reforms that have lifted over 800 million people out of poverty- an unprecedented feat- began in 1978 under the reforms of Deng Xiaoping. These reforms have made the major economic blocs of the world, export and trade destinations for China. They include the US (17 percent), the European Union (15.9 percent), Hong Kong (15.5 percent), Japan (6.4 percent) and the Republic of Korea (4.3 percent). With China becoming the second largest economy in the world and officially out of poverty, similar socio-economic status is envisaged for Nigeria. This proposed ‘China Strategy’ can also be made a part of the Nigeria Economic Diplomacy Initiative (NEDI) of the Ministry of Foreign Affairs, when revised. The concept of Economic Diplomacy as a part of Nigeria’s foreign policy,

was successfully made more prominent under the tenure of General Ike Nwachukwu, as Nigeria’s Foreign Affairs Minister in the 1980’s. NEDI, in its current form, does not pay sufficient attention to China, with no explicit position on what strategy documents such as the Belt and Road Initiative means for Nigeria. In all of these proposed approaches, there are also key roles for trade and investment facilitation agencies mostly under the Federal Ministry of Industry, Trade and Investment (FMITI) in Nigeria. They include the Nigeria Export Promotion Council (NEPC), Nigeria Investment Promotion Commission (NIPC), National Office for Trade Negotiations (NOTN), Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Nigeria Export Promotion Zones Authority (NEPZA) and Development Bank of Nigeria (DBN). These agencies are expected to provide advisory as well as the enabling environment for relevant Nigerian stakeholders and companies across the geopolitical regions, towards exporting fully processed and semi-processed products. To enhance successful implementation and given the geopolitical strategy recommended, the development commissions in place, as well as those being proposed for each of the regions in Nigeria, may perhaps have roles to play in making this a success. The North East Development Commission (NEDC), BRACED Commission for South-South and the proposed South East Development Commission, South West Development Commission, North Central Development Commission and other commissions proposed for each region should be encouraged to primarily take up these responsibilities. In the interim, the Governors Forum already in place for each region can take up the responsibilities, with some oversight from the Ministry of Foreign Affairs, FMITI and other relevant federal ministries. With infrastructure stock at 25 per cent of GDP, which is below the recommended 75 per cent of GDP international benchmark, the need for better infrastructure across all geopolitical regions of Nigeria, for improved economic competitiveness, cannot be faulted. Meeting such infrastructure needs mostly through loans from China is definitely not a sustainable strategy, given Nigeria’s experience with debt management. There are also more fiscally affordable options for infrastructure development. The country current debt profile stands at US$85.9 billion; and a situation where most of the non-debt government revenue being used for debt servicing, does not support more borrowing. The current one-size-fits-all approach in sourcing loans from China is unlikely to be beneficial in the long term, but bilateral economic relations can be made more strategic and symbiotic, through a geopolitical economic approach for more mutually beneficial relations. Loans collected for infrastructure projects must be amortized by the projects themselves. This approach will also enhance the perception of China as a worthy partner. Given Nigeria’s leadership position in Africa, such an informed approach can galvanize other African countries to follow suit, in developing their individual ‘China Strategy’. t6XBOBLB B QPMJDZ BOBMZTU XSJUFT UISPVHI DIVLXFLT!ZBIPP DPN

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MONDAY JANUARY 11, 2021 • T H I S D AY

MONDAY JANUARY 11, 2021 •T H I S D AY

MONDAY JANUARY 11, 2021 • T H I S D AY

T H I S D AY ˾ ˜ JANUARY 11, 2021

BUSINESS/MONEYGUIDE

‘AMCON’s Debt Bigger than FG’s 2021 Capital Expenditure’ Obinna Chima The Asset Management Corporation of Nigeria (AMCON) has disclosed that the N4.4 trillion, which is owed the corporation is bigger than the entire 2021 capital expenditure budget of the federal government of Nigeria, which stands at N3.85trillion. The amount owed the corporation is also bigger than the N3.12trillion for total foreign debt service for 2021 and personnel cost of N3.7 trillion in the federal government’s budget. Owing to this, AMCON has called on all agencies of the federal government and all stakeholders to join its debt recovery drive to guide against the huge opportunity cost of not recovering the debt on the economy. Of this figure, the government agency reiterated that its 350 obligors alone account for a whopping N3.6 trillion, which is 82 per cent of the outstanding exposure of N4.4trillion. The revelations were contained in a paper by the Group Head of AMCON Enforcement, Mr. Joshua Ikioda, presented in Abuja, which was titled: “Overview of

AMCON from Cradle to Date and the Implication of the Bad Debt to the Nigerian Economy.” He made the presentation at the just concluded 2-day training for Federal High Court Legal Assistants and Court Registrars in Abuja. The event was declared open by Hon. Justice Inyang Ekwo of the Federal High Court, Abuja, and attended by Dr. Eberechukwu Uneze and Mr Aminu Ismail both Executive Directors of AMCON as well as Hon. Justice Nkeonye Evelyn Maha also of the Federal High Court. Ikioda, stressed that the amount owed the corporation, if recovered would be enough to complete the revival of the moribund Ajaokuta Steel Company and construction of many more of such projects. “The development of the iron and steel sector as well as the electricity sector are essential ingredients to industrialisation in any country and the debt owed AMCON can do a lot in improving electricity generation and distribution as well as revival of the challenged iron and steel sector,” a statement quoted him to have said. AMCON MD/CEO, Mr.

Ahmed Kuru, in his keynote address at the beginning of the training, said the corporation could not over flog the important role the Judiciary in national development and as such remains vital to the success of AMCON. Kuru who was represented by Uneze said, “We are just a government recovery agency saddled with the responsibility of purchasing non-performing loans from Banks and ensuring it is paid back using the instrumentality of the law. Unfortunately, it did not turn out to be that easy, through the instrumentality of the courts as we encountered a lot of challenges. “The obligors get wiser by the day, deliberately causing orchestrated legal delays knowing that AMCON has a sunset date. The Act was amended in 2015 to address some of the encountered challenges, again obligors got wiser, hence necessitating another amendment in 2019 all with the single objective of recovering the loans bought from banks in order to settle our debt without recourse to taxpayers money, this outstanding exposure is not a small amount of money.

Polaris Bank to Reward Customers in Savings Promo Polaris Bank Limited is sparking up positive outlook for the new year as it plans to reveal the first set of winners of its on-going nationwide savings promotional campaign, ‘Save & Win’ in February. The sum of N26 million is on offer from the bank for lucky customers to pocket. A statement from the bank revealed that updates from its branches across the country indicated an overwhelming participation in the promo by Nigerians, consisting of existing and prospective customers of the bank. Polaris Bank commenced the nationwide ‘Save & Win’ promo campaign last November to reward and empower its loyal and prospective customers by giving away N26 million with winners picked through a transparent electronically generated process that will be supervised

by regulatory institutions. The bank seeks to raise eight millionaires who will receive N1 million each while 180 lucky customers will be rewarded with other cash gifts of N100,000 each. The promo is aimed at making millionaires of everyday Nigerians by encouraging current and prospective customers of the bank to save minimum incremental of N10, 000 monthly for any three consecutive months within the promo period, starting from November 2020 to April 2021, to qualify and be part of the winners of the promo. The first draw, which will herald the first set of winners, will be announced next month, February. On that day, the first 60 winners of N100, 000 each will emerge from the six geo-political zones, plus one millionaire. The same process will be

repeated in March while the month of April will be for the Grand-finale leading to the emergence of sixty winners of N100,000 each across the six geo-political zones and six ‘Millionaires’ of N1,000,000.00 (one million naira) each, across the six (6) geo-political zones, bringing the entire draw to a total of 188 winners. According to the statement, the Managing Director/CEO of Polaris Bank, Mr. Innocent Ike, was excited at the participation in the promo, stating that, “the essence of the initiative was to give back to customers and encourage savings amongst Nigerians.” He added that the campaign was a reward for the traders, artisans, public servants and indeed professionals who in spite of the challenging times, are able to put aside some money.

Stanbic IBTC Supports Businesses with Bouquet of Solutions Stanbic IBTC Holdings PLC, has highlighted its array of solutions to support businesses in the country to make the most of 2021. The solutions on offer are geared towards providing access to flexible funding for small, medium and large-scale enterprises thereby addressing inadequate access to capital, exposure to international markets and inherent challenges plaguing local and international trade. The solutions also allow organisations to take advantage of joint partnerships without the risk of losing capital and benefit from medium to long term investment solutions that help businesses in maximising their resources, it explained in a statement. Commenting on the offerings, Chief Executive, Stanbic IBTC Bank, Wole Adeniyi, said the solutions were designed to support SMEs and address its customers’ trade and financial

needs. “Over the years, Stanbic IBTC Holdings PLC, as Nigeria’s leading end-to-end financial services provider, has remained at the forefront of providing financial solutions to business enterprises in the country, while offering Nigerian importers access to its global presence through its Africa China Agent Proposition (ACAP),” Adeniyi said. Targeted at business owners who import goods from China or have trade dealings with China, ACAP, through Stanbic IBTC Bank, links Nigerian importers to Chinese exporters, facilitates payments and ensures the successful completion of their trade dealings. “Leveraging Stanbic IBTC’s network of Chinese agents, with client satisfaction being the cornerstone, ACAP offers a broad ecosystem of services, solutions and support, which

equips African and Chinese businesses to leverage trade and growth opportunities to drive Africa’s growth. “The ACAP solution, which has been termed ‘game-changer’, eases the cashflow worries of African importers by providing access to finance while also empowering the importers to have end-to-end visibility of the entire importation and logistic process,” Adeniyi said. Likewise, the Stanbic IBTC Trade Club offers business owners exposure to meet and trade with suppliers anywhere in the world, thus giving them the needed exposure for their businesses to thrive. With the increasing clamour for diversification of the nation’s economy from crude oil, Stanbic IBTC has also highlighted its Agribusiness solution, which is geared at providing financing options to stakeholders in the agriculture value chain.

Ahmed Kuru

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JULY 2020 Money Supply (M3)

36,822,751.47

-- CBN Bills Held by Money Holding Sectors

3,476,121.25

Money Supply (M2)

33,346,630.22

-- Quasi Money

120,764,479.02

-- Narrow Money (M1)

12,582,151.19

---- Currency Outside Banks

2,002,026.89

---- Demand Deposits

10,580,124.31

Net Foreign Assets (NFA)

7,637,137.23

Net Domestic Assets(NDA)

29,185,614.24

-- Net Domestic Credit (NDC)

39,711,115.95

---- Credit to Government (Net)

19,521,851.08

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

-130,189,264.87

--Other Assets Net

3,472,017.70

Reserve Money (Base Money

13,421,827.07

--Currency in Circulation

2,395,917.03

--Banks Reserves --Special Intervention Reserves

11,025,910.04 317,234.17

˾ ÙßÜÍÏ ̋

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

March 2018 15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT THURSDAY, 17 DECEMBER 2020

The price of OPEC basket of thirteen crudes stood at $50.78 a barrel on Thursday, compared with $50.12 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), 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) SOURCE: OPEC headquarters, Vienna

T H I S D AY ˾ ˜ ͯͯ˜ ͰͮͰͯ

Capital Bancorp Advises Investors against Ponzi Schemes Goddy Egene Capital Bancorp Plc, a diversified financial services group, has advised the investing public to be wary of companies that offer unrealistic returns on investment to defraud unsuspecting investors. The Capital Bancorp gave the advice against the backdrop of a publication that guarantees 100 per cent return on investment, being offered by a company impersonating it through a

website: capitalbancorppublicltd. com. The information is hosted on a website owned by a company called NameCheap, based in Panama. The management of Capital Bancorp said in a statement explained that only a money doubling scheme could guarantee such huge returns being offered on the website. “The management and directors of Capital Bancorp Plc call the attention of the general public, Central Bank of Nigeria (CBN)

P R I C E S MAIN BOARD

F O R DEALS

the Securities and Exchange Commission (SEC), the Nigerian Stock Exchange(NSE), NASD Plc, FMDQ Plc and other financial institutions, the Police and EFCC to a company using a website address of capitalbancorppublicltd. com. claiming to be and impersonating Capital Bancorp Plc. The website is a vehicle designed to defraud members of the public. “Those familiar with Capital Bancorp Plc will easily recognise that the offers are outside the

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

operational mode of Capital Bancorp Plc which in its 33 years of operations has never been known to offer reckless investment instruments, not even in the heydays of finance houses with colourful operators as Forum and Umanah Umanah and such-like bogus finance houses. Capital Bancorp true to its rational and professional management has always survived and indeed prospered through all the turbulent periods in the

T R A D E D MAIN BOARD

A S

financial services industry in the last 27 years,” the firm said. According to Capital Bancorp, the company, which has no physical address, has a mobile phone number, noting that that the company probably exists only on the internet as it is not in any way affiliated with or related to Capital Bancorp Plc. Capital Bancorp explained that is an ordinary and dealing member of the NSE, a participating institution in NASD Plc and registered by

O F

Securities and Exchange Commission (SEC) as issuing house and broker dealer. “We are in good standing with all our regulators and advise members of the public to investigate the bona fides of all institutions offering them services. Capital Bancorp outside its own Commercial Paper Issues, third party Commercial Paper Issues, Federal, State and Corporate Bond offerings offer no guaranteed returns on any investment,” it said.

0 8 / 0 1 / 2 0 2 1 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

MONDAY JANUARY 11, 2021 •T H I S D AY

MONDAY JANUARY 11, 2021 • T H I S D AY

MONDAY JANUARY 11, 2021 •T H I S D AY

MONDAY JANUARY 11, 2021 • T H I S D AY

MONDAY, JANUARY 11, 2021 ˾ T H I S D AY

MARKET NEWS

NSE Suspends Trading in the Shares of Thomas Wyatt Goddy Egene

The Nigerian Stock Exchange

(NSE) last week suspended trading in the shares of Thomas Wyatt Nigeria Plc having failed

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

to having failed to file its Audited Financial Statements for the year ended 31 March 2020.

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 07Jan-2021, unless otherwise stated.

According to the exchange, the suspension of trading in the shares of the company

would only be lifted upon the submission of the relevant accounts and provided the

exchange is satisfied that the accounts comply with all applicable rules.

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 ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund N/A N/A N/A ACAP Income Funds 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 100.00 100.00 1.50% AIICO Balanced Fund 3.55 3.69 -0.44% 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 0.84% Anchoria Equity Fund 135.10 135.50 24.35% Anchoria Fixed Income Fund 1.34 1.34 15.16% 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 18.46 19.01 20.50% ARM Discovery Balanced Fund 406.95 419.22 17.81% ARM Ethical Fund 34.08 35.11 17.20% ARM Eurobond Fund ($) 1.22 1.23 22.78% ARM Fixed Income Fund 1.11 1.12 11.48% ARM Money Market Fund 1.00 1.00 0.55% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.15 2.15 0.97% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.23 2.27 -42.17% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 2.18% Paramount Equity Fund 16.22 16.53 1.46% Women's Investment Fund 134.02 135.57 0.71% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 1.04% Cordros Milestone Fund 2023 130.78 131.65 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 108.87 108.87 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund N/A N/A N/A FBN Balanced Fund 188.68 190.09 0.53% FBN Halal Fund 111.54 111.58 0.01% FBN Money Market Fund 100.00 100.00 1.06% FBN Nigeria Eurobond (USD) Fund - Institutional 122.56 122.98 0.80% FBN Nigeria Eurobond (USD) Fund - Retail 122.71 123.13 0.80% FBN Smart Beta Equity Fund 152.07 154.37 0.59% 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 N/A N/A N/A Legacy Debt Fund N/A N/A N/A Legacy Equity Fund N/A N/A N/A Legacy USD Bond Fund N/A N/A N/A FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 3,807.63 3,855.44 1.36% Coral Income Fund 3,311.78 3,311.78 1.40% FSDH Treasury Bills Fund 100.00 100.00 1.79% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 1.18% Nigeria Entertainment Fund 127.37 127.90 18.35%

GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 1.08% Vantage Balanced Fund 2.90 2.96 32.49% Vantage Guaranteed Income Fund 1.00 1.00 7.50% Kedari Investment Fund (KIF) 157.02 157.98 9.61% 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 1.44 1.46 0.00% Lotus Halal Fixed Income Fund 1,155.29 1,155.29 0.16% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.64 1.68 6.83% PACAM Fixed Income Fund 12.20 12.32 8.71% PACAM Money Market Fund 10.00 10.00 1.50% PACAM Equity Fund 1.56 1.58 PACAM EuroBond Fund 108.43 110.88 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 131.18 133.55 8.39% 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 1.00 1.00 0.14% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 2,521.35 2,532.80 0.56% Stanbic IBTC Bond Fund 210.33 210.33 0.05% Stanbic IBTC Ethical Fund 0.88 0.89 0.00% Stanbic IBTC Guaranteed Investment Fund 273.87 273.95 0.08% Stanbic IBTC Iman Fund 154.92 156.64 0.06% Stanbic IBTC Money Market Fund 100.00 100.00 0.28% Stanbic IBTC Nigerian Equity Fund 7,674.15 7,756.30 -0.71% Stanbic IBTC Dollar Fund (USD) 1.23 1.23 0.11% Stanbic IBTC Shariah Fixed Income Fund 111.17 111.17 0.08% UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.38 1.41 1.19% United Capital Bond Fund 1.89 1.89 0.07% United Capital Equity Fund 0.88 0.91 1.70% United Capital Money Market Fund 1.00 1.00 1.61% United Capital Eurobond Fund 117.22 117.22 0.12% United Capital Wealth for Women Fund 1.09 1.10 0.30% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 12.39 12.52 4.52% Zenith Ethical Fund 13.69 13.81 12.08% Zenith Income Fund 25.02 25.02 0.80% Zenith Money Market Fund 1.00 1.00 1.95%

REITS NAV Per Share

Fund Name SFS Skye Shelter Fund

Yield / T-Rtn

120.74

0.00%

52.40

0.00%

Bid Price

Offer Price

Yield / T-Rtn

13.24 123.19 99.27

13.34 123.19 101.13

0.21% 1.19% -0.10%

Union Homes REIT

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

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697

funds@vetiva.com Bid Price

Offer Price

4.12

4.16

8.73%

Vetiva Consumer Goods Exchange Traded Fund

5.82

5.90

2.22%

Vetiva Grifﬁn 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund

17.77 1.00 20.79

17.87 1.00 20.99

8.54% 1.02% 1.32%

200.52

202.52

-10.15%

NAV Per Share

Yield / T-Rtn

107.71

13.11%

Fund Name Vetiva Banking Exchange Traded Fund

Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

Yield / T-Rtn

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 JANUARY 11, 2021˾ T H I S D AY

NEWSXTRA

IPPIS: Varsity Workers Threaten Three-day Nationwide Protests

Onyebuchi Ezigbo in Abuja

Non-teaching staff in the universities under the aegis of the Joint Action Committee, will on Tuesday, embark on three-day nationwide protests over the government’s handling of the Integrated Personnel and Payroll Information System, sharing formula of the N40 billion earned academic allowances and non-payment of arrears of the new minimum wage. The committee said other contentious issues that informed the decision include inconsistencies in IPPIS payment and the delay in the renegotiation of the FGN/ ASUU/SSANU 2009 Agreement. Others were the non-payment of retirement benefits to former members, non-constitution of visitation panels to universities, poor funding of universities, teaching staff usurping the headship of non-teaching units, among others.

The JAC which comprised the Non-Academic Staff Union of Educational and Associated Institutions and the Senior Staff Association of Nigeria Universities directed all its branches to mobilise the members on Monday for the rallies. The decision to embark on the protest was taken on Friday night at a meeting by the leadership of NASU and SSANU, in Abuja, where they reviewed the Memorandum of Understanding signed with the Federal Government on October 20, 2020. In a communique signed by the SSANU President, Mohammed Ibrahim, and the General Secretary of NASU, Prince Peters Adeyemi, the committee added that the unions would consider other measures, including embarking on an indefinite strike, after the protests. The JAC was expected to meet on Thursday to review the success

of the protest and deliberate on the next step. It was also gathered that the unions have notified the Minister of Labour and Employment, Senator Chris Ngige, who is the conciliator between the federal government and the unions of their intention to embark on the protests.

The federal government had in December approved N40 billion earned allowances for the four university unions and allegedly allocated 75 per cent of the amount to the Academic Staff Union of Universities, leaving 25 per cent for the other three unions. But this did not go down well

with the NASU, SSANU, and the National Association of Academic Technologists as they rejected the sharing formula and threatened to ground the universities. When asked what was being done to address the unions’ demands, the spokesman, Ministry of Labour and Employment, Mr Charles Akpan,

said he has no information on steps being taken on the issue. “When such issues come up, we as the conciliator always invite them to meetings to address their demands but I don’t have any information on what was being done on their demands,” he said yesterday.

Gunmen Storm Ebonyi Police Station, Kill Three Officers Benjamin Nworie in Abakaliki Unknown gunmen at the weekend attacked a police station in Ebonyi State, killing three officers. Two others sustained bullet wounds in the attack on Onueke Police Station in Ezza South Local Government Area of the state. It was gathered that the policemen were attacked by suspected hoodlums who stormed the police station in the night. It was learnt that the slain officers were two inspectors and one female who was relaxing in her room when the hoodlums struck. The attackers reportedly carted away two AK 47 rifles from the affected police station. Police spokesman in the state, Loveth Oda, confirmed the incident. She explained that corpses of the slain officers had been deposited in a mortuary while the two who sustained bullet wounds were receiving treatment. Odah urged the public to provide the police with information that could lead to the arrest of the attackers. “Yes, three policemen were killed in the attack. We don’t know the identity of the attackers yet;

and we are calling on the general public to provide information to the police in order to hunt down the perpetrators of this heinous crime”, Odah said. The attack was similar to the ones that happened during #EndSARS protests in the state. The state Commissioner of Police, Philip Maku reportedly visited the Onueke Police Station Saturday morning to ascertain the level of havoc done by the hoodlums. He was reported to have vowed to fish out the perpetrators. Residents of the area were living in palpable fear as policemen were said to be carrying out mass arrest in the area. Sources from the area also said that there was no misunderstanding between the police and the people of the area prior to the attack However, the Commissioner for Internal Security in the state, Mr. Stanley Okoroemegha, said the government was saddened by the incident. Okoroemegha gave security agencies forty-eight hours to brief the government on how such a breach could have occurred without any intelligence to forestall it

YES, BOSS...

Chief Executive Officer, Nigeria Export Promotion Council, Mr. Segun Awolowo (left), and the Vice President, Professor Yemi Osinbajo, in an elbow bump during a meeting on the take-off of the federal government’s Export Expansion Facility Intervention under the Economic Sustainability Plan, at the VP’s office in Abuja...recently

Again, Ekiti Imposes Curfew, Restricts Gatherings to 20 People Victor Ogunje in Ado Ekiti Barely five months it lifted the restriction slammed on Ekiti State, the state government has again imposed a curfew from duskto-dawn curfew and banned all gatherings of more than 20 people in the state with effect from Monday, 11th January, 2021 until further notice. The curfew will last between 8p.m. and 6a.m. in the morning. In a statement made available to newsmen in Ado Ekiti, yesterday, the state Commissioner for Information, Hon Akinbowale Omole, explained that the new guideline is to forestall the spread of the coronavirus in the state, adding that the is need to take proactive steps to curtail the spread of the second wave of the virus

which has been reported to be more contagious and severe than the first one. The statement stressed that the curfew would be enforced strictly except for those that can prove that they are on essential services. Reiterating the commitment of the state government to the safety of lives of people in the State, Omole said Governor Fayemi directed the imposition of the curfew to protect residents of the state from falling prey to the second wave of the pandemic that has continued to claim thousands of lives all over the world. He stressed the need for the people to strictly observe the Covid-19 protocols and abide by the curfew and new restrictions placed on public gatherings by the state government, warning

that government would enforce the new directives and recalcitrant people would be made to face the wrath of the law. Omole emphasised the need for people in the State to properly wear nose masks, wash their hands with soap and use hand sanitizer regularly, as well as keep social distance to avoid contacting the virus. According to the commissioner, there is also a ban on all public gatherings of more than twenty people while Covid-19 prevention protocol should be strictly observed even in such gatherings. Omole expatiated that, to allow faithfuls observe their religious worships, the state government each worship centre to hold a maximum of two services on Friday, Saturday or Sunday

accordingly adding that the services should however not extend beyond 2p.m. He re-emphasised “that all worship centers are expected to provide necessary facilities for hand washing, soap and hand sanitizer at the entrance and infra-red thermometers to take worshippers temperature before they are allowed in for service”. He added that “the state Covid-19 Response Committee put in place by Ekiti State Government and other relevant enforcement agencies would be going round to ensure compliance with these directives and any person or group of persons caught violating the guidelines put in place to curtail the pandemic in the state will be prosecuted and sanctioned accordingly”.

Expatriate Policy: FG to Sanction Companies Who Fail to Gunmen Attack Osun Senator Employ Nigerian Graduates during Constituency Meeting James Emejo in Abuja “We have discovered that h a v e t h e c a p a c i t y of the task force, Mr Bola Deji Elumoye in Abuja The Senator representing Osun West Senatorial District, Adelere Oriolowo, was whisked away from the venue of a constituency meeting held in Ikire, Osun State, yesterday when some unknown gunmen attacked him. The senator’s Senior Legislative Aide, Adams Adedimeji, who confirmed the development to journalists, said Oriolowo was the main target of the assassins. He said the senator had gone for a constituency meeting at Ikire town in the Irewole Local Government Area of Osun State, which is under his constituency. Oriolowo had posted on his

Facebook page that his assailants attempted to assassinate him. He wrote, “Just escaped an assassination attempt on my life and that of my entourage. To God be the glory, we are safe and alive. “God is my helper, my shelter and my fortress, I fear no evil.” Adedimeji, however, told our correspondent that his boss was rescued safely and that he was already in Osogbo, the state capital as of the time of filing this report. He said, “The meeting was already in progress when the assailant struck. They shattered the windscreen of his vehicle but he is okay now. He is already in his Osogbo home.”

The federal government has vowed to sanctions companies that fail to comply with the law guiding the employment of qualified Nigerians as understudies for expatriates. The government through the Special Ministerial Task Force on Monitoring and Enforcement of Nigerian Expatriate Business Permit and Expatriate Quota Administration noted that it has directed companies in the country to submit the Tax Identification Number, National Identification Numbers, Phone Number and Email Address of Nigerians understudying expatriates in their firms. A statement by the chairman

Ilori, yesterday to newsmen in Osogbo revealed that the decision was made after a meeting with representatives of the Nigerian Immigration Service, Nigeria Labour Congress; Nigerian Bar Association; Nigerian Society of Engineers; other professional bodies and officials of Ministry of Interior. The statement read, “Every company must submit the details of Nigerians understudying expatriates in their organisations. They must submit the Tax Identification Number, National Identity Number of each Nigerian understudying expatriates in their companies.

some of the companies are not sincere, they just want to keep renewing the permits of their expatriates at the detriment of Nigerians. We want to know whether they are circumventing the policy or they adhere to it. “The problem is that some of these companies are either not employing Nigerians at all or using school certificate holders to be understudying expatriates who are managers. How can a school certificate holder understudy a manager? “What they are aiming at is that when the time comes for the expa t r i a t e s t o e x i t , the companies will say those understudying the expatriates do not

to become managers and you will agree with them. What that means is that Nigerians will not get to such positions and the expatriates will be there forever. “How can a school cert holders succeed a manager when we have millions of Bsc holders and Master ’s degree holders. But they do that deliberately to defeat the purpose of the policy of the Federal Government.” He added that the task force would do everything to ensure that Nigerians were no longer denied the opportunities to work in companies in the country by foreigners and their collaborators.

MONDAY JANUARY 11, 2021, ˾ T H I S D AY

NEWSXTRA

LASU: Fresh Disquiet over Pro-Chancellor’s Link to PDP Accused of promoting sectional agenda Dust over TETFUND management

Funmi Ogundare Ahead of the scheduled emergency Senate meeting today, another crisis of confidence has hit the Lagos State University over alleged political partisanship of the Pro-Chancellor, Professor Adedayo Ninalowo. A cross section of leaders of the ruling All Progressives Congress (APC) in the state at the weekend expressed anti-party against the chairman of the governing council who they accused of being “PDP agent shamelessly pursuing PDP agenda”. This comes on the heels of a fresh strong-worded petition to Governor Babajide Sanwo-Olu written by a group of Lagos Elders, accusing Professor Ninalowo of fanning the embers of sectional discord with his desperation to impose “two candidates who hail from Ikorodu area like himself in

the shortlist of three”. This is besides an allegation that the attempt of the outgoing Vice Chancellor, Professor Olarenwaju Fagboun, to foist a stooge as successor is “to cover up his tracts in the past five years.” In a terse statement at the weekend, the university senate’s Principal Assistant Registrar, K. O. Okugbesan, invited the governing board to a meeting to fashion out a new roadmap to shortlist and select a new vice chancellor to take over from Professor Olarenwaju Fagboun whose tenure has ended. Earlier, in a move widely commended by stakeholders, Governor B Sanwo-Olu had voided the initial shortlist submitted by the university council following widespread complaints of “manipulations and underhand dealings”. Speaking with THISDAY, a cross-section of APC leaders

expressed the opinion that the Pro Chancellor be asked to recuse himself from the new process because “he is one of those actively colluding with PDP to undermine the interest of APC in Lagos State.” Said a prominent chieftain in Lagos East: “I wonder why Governor Sanwo-Olu continues to allow someone (Ninalowo) who worked openly against us in the

last elections and who openly supported the PDP candidate in 2019 to continue to occupy such a strategic position.” Another APC chieftain based in Ikeja traced the genesis of the confidence crisis to Professor Ninalowo’s role in the bitter APC primaries of 2018 in which he (Pro Chancellor “against the convention of the academic community, openly campaigned

for Akinwunmi Ambode’s re-election because Ambode influenced his appointment in 2015 after intense pressure. “Once the majority of us in APC in 2018 stood our grounds that Ambode was a bad product not deserving second term and Sanwo-Olu became our candidate in 2019, it is open secret that people like Ninalowo worked openly against us by giving

support to PDP. Thank God we eventually put them to shame by delivering Sanwo-Olu in that election. In fact, I can confirm to you here that it took the personal pleas and lobby of the Oba of Ikorodu and a banker-Senator to persuade Sanwo-Olu last year to renew his tenure as Pro-Chancellor due to his subversive activities in 2019.

Adoke Tests Negative of COVID, Urges FG to Ensure Tougher Restrictions Alex Enumah in Abuja Former Attorney-General of the Federation and Minister of Justice, Mohammed Bello Adoke, has urged the federal government to adopt stricter measures to contain the spread of COVID-19 in the country. Adoke who has now tested negative, said it is only through stricter measures that the government would be able tackle the spread of the virus. He had travelled for his medicals on Christmas day and was preparing to return to Nigeria when the mandatory pre-flight COVID test turned out positive a day to the trip. “I want to thank the almighty God for his mercy and grace. I did not have any symptoms at all. Five days after I was diagnosed, I was still positive. I kept on using my medication and the steaming therapy,” he said. “When I went on Friday to run another test, the report said ‘not detected but presumptive positive’. I was a bit down but I did not allow it to dampen my spirit. Today (Sunday), I have been certified negative. I am very grateful to God. “I have been a very careful person. I still don’t know how I caught the infection. I was always wearing my face

mask and using hand sanitizers. I probably caught it on the flight to Dubai or during my medicals. Whatever the case was, I thank God.” He said the government needs to be tougher on the enforcement of safety protocols and called on Nigerians to stop taking the disease lightly. “I see videos of people attending parties and breaking all the rules. Things need to change. This pandemic is getting out of hand. Except Nigerians co-operate with the government, things will keep getting worse.” According to the Nigeria Centre for Disease Control (NCDC), a total of 99,063 cases have been confirmed across the country as of Saturday night, out of which 1,350 deaths and 79,417 recoveries have been recorded. Adoke, who is currently being tried on allegations of money laundering by the Economic and Financial Crimes Commission (EFCC) at a Federal High Court in Abuja, was last month granted permission to travel for his medicals. Justice Inyang Ekwo ordered the release of his international passport so he could travel and return before the trial resumes. The trial was due to resume today, January 11.

CONDOLENCE VISIT...

Chief of Air Staff, Air Marshal Sadique Abubakar (left), with Mrs. Uduak Nsikak Eduok, widow of former Chief of Air Staff, Air Marshal Nsikak Eduok, during Abubakar’s condolence visit on the demise of former CAS in Uyo... weekend

THISDAY Reporter, Ifijeh Wins Merck Media Recognition Award for West Africa THISDAY reporter, Martins Ifijeh, has emerged the winner of the ‘Merck More than a Mother’ Africa Media Recognition Award 2020 from West African countries He won in the Online Category with his entry: ‘Heavy Metals and the Pain of Infertility’. The first and second runner ups in the category are Never Lomo of New Public Trust from Liberia and Chinedu Asaju of The Cable Newspaper. Two other Nigerians; Chioma Obinna of Vanguard and Abubakar Sulaiman of Sawaba 104.9fm won in the Print and Radio category respectively

Announcing the award weekend, the CEO, Merck Foundation, Senator Rasha Kelej, said Ifijeh’s story was instrumental in raising awareness on infertility prevention and breaking its stigma in Nigeria and across Africa. The award price is $500. Kelej, who is a member of the Egyptian Senate, said: “I am very happy to inform you that your work has been selected by our ’Merck Foundation More Than A Mother’ Awards Committee to win the first award in the Online Category from West African countries for your exceptional

coverage that helped to create awareness about infertility and breaking the stigma around it. “We sincerely appreciate your influential media work that was instrumental in raising awareness on infertility prevention and breaking stigma in your country and rest of Africa, hence, I am pleased to additionally reward you to become ’Merck Foundation Alumni’, and provide you with one year access to online educational training programme called MasterClass.” She said the offer from Merck Foundation aims to motivate

passionate journalists to continue writing and advocating for social, economic and health issues across their countries. Ifijeh, who is a fellow of the International Centre for Journalists (ICFJ), United States, is currently pursuing a PhD programme in Rutgers School of Public Health in the United States. He is a recipient of several awards, including the Nigeria Healthcare Media Excellence Award; Early Childhood Development Reporting Award in Washington DC; Nordica Media Merit Awards, among others.

Retrogressive Forces Threatening to Undermine El-Rufai, Former Kaduna Speaker Alleges John Shiklam in Kaduna A former Speaker of the Kaduna State House of Assembly, Hon. Aminu Abdulahi Shagali, has opened up on the seeming crisis brewing in the ruling All Progressives Congress (APC), in the state, alleging that “some retrogressive forces were bent at undermining Governor Nasir el-Rufai.” Addressing journalists yesterday in Kaduna, Shagali, who represents Sabon Gari constituency and was twice the Speaker of the assembly, said the retrogressive forces were determined and relentless in the wild pursuit of their agenda. The former speaker appealed to the people of the state, especially members of the APC to support the governor and save the state “from these retrogressive forces.”

“We must come together, reason together and strive together to stand by the governor,” he said. Although he did not give details of the “retrogressive forces,” THISDAY learnt that a bitter rivalry between a serving senator and a top official of the state House of Assembly, ahead of the 2023 elections is causing cracks within the party. Supporters of the two politicians have in recent time, engaged each other in a war of words on programmes on local radio stations, allegedly sponsored by the rival politicians, both of whom are said to be loyalists of the governor. According to Shagali, the foundation laid by El-Rufai since he came to power is under threat and about to be destroyed by the retrogressive forces, who,

according to him, are “purported loyalists of the governor, but are all well-armed with mischief.” He said, as a serving member and the immediate past speaker of the House of Assembly, “I have followed with deep concern recent political developments in the state.” He said, given the current scenario, “the picture is fraught with uncertainty,” stressing that the foundation laid by the governor was under threat and about to be destroyed. He said: “As a serving member and immediate past Speaker of the Kaduna State House of Assembly, I have followed with deep concern the recent political developments in Kaduna State. “The Governor of Kaduna State, Malam Nasir Ahmad El-Rufai has since 2015, demonstrated

forthrightness, courage and supreme innovation in charting purposeful development. “This can be seen in the reform of critical sectors such as education, healthcare, and security. “He has also led an economic rebirth leading to an unprecedented flow of investments into the State, and not least, the ongoing Kaduna, Zaria and Kafanchan urban renewal projects. “All these developments are taking place despite the resources constraints being faced by the state and acts of sabotage portrayed by some elements who wished to see the failure of this administration particularly when it comes to accessing resources to be used in Malam’s quest for taking the state to a greater level...

MONDAY JANUARY 11, 2021 ˾ T H I S D AY

24 HOURS...

Wike, Diri, Uzodimma Seek Better Welfare for Armed Forces

Davidson Iriekpen

Rivers State Governor, Nyesom Wike, Bayelsa State Governor, Senator Douye Diri and Imo State Governor, Senator Hope Uzodimma, yesterday called for better funding and equipping of the Nigerian Armed Forces. Wike charged the federal government to treat the Nigerian armed forces who are playing a significant part in ensuring that the civil populace enjoys a peaceful country, coupled with their commitment to safeguarding the sovereignty of the country better. He stated this at the interdenominational church service in Port Harcourt to mark the 2021 Armed Forces Remembrance Day celebration. A Special Assistant to the Governor on Media, Kelvin Ebiri, in a statement quoted Wike as saying that an annual remembrance day celebration for the armed forces was not enough to cater for soldiers who suffered injuries or paid the ultimate price while defending the country. Wike, however, advocated for special recognition for the fallen heroes as well as soldiers still diligently fighting bandits and insurgents in some parts of the country. Wike said, “It is not easy when people would say for the sake of

this country, we are willing to make sacrifices. They laid down their lives to protect us. While some of us will be sleeping, they are busy, fighting to defend the country, the sovereignty of this country. “In the course of doing that, so many died, some get injured to the point they can’t be useful to themselves again all their life. You know how painful it is that a man goes to work with the hope that he’s coming back home, but the children are later told that they have lost their dad because he went to protect the country. “So, we must have a special recognition for our fallen heroes and to those who are still in the Armed Forces fighting. See what is going on in Borno and Yobe states and all over the country; banditry, insurgencies. “So, for us, we think that the government should come up with something concrete that when they go out and fight, their families will know that there is something their parents have kept that will cater for their children.” Also, Diri said this would serve as motivation for the military in the bid to end insurgency and insecurity in the country. He stated this during the interdenominational service to mark the 2021 Armed Forces Remembrance Day at the King

of Glory Chapel, Government House, Yenagoa. His Chief Press Secretary, Mr. Daniel Alabrah, in a press release, quoted the governor as saying that January 15 was set aside in Nigeria to remember fallen heroes of the First and Second World War as well as the Nigeria Civil War. He noted that the society needs to also do enough in respecting the lives of every security personnel just as they honour the memories of fallen soldiers. His words: “The federal government is spending so much but we believe that they can still spend more in terms of equipment and better welfare for the personnel. “I also want the federal

government to look into the issue of insecurity in this country and accord it the necessary importance that it deserves. “For me, it is a day to call upon the federal and state governments to look again at what we do and ensure that as leaders our watchword should be that of justice and equity. “Much of the insurrection, the violence and the conflicts in Nigeria today are avoidable if only we respect justice and equity.” He saluted ex-servicemen that had gone through horrible experiences and thanked God for keeping them alive to witness another Armed Forces Remembrance Day.

The governor said their sacrifice and service to the nation, which include paying the supreme price, would not be in vain as his government would always recognise and celebrate them. In his sermon, Chaplain of the King of Glory Chapel, Pastor David Yala, admonished personnel of the Armed Forces to realise that their mission is not for self-recognition but that of service to become a sacrificial citizen of the nation. On his part, Uzodimma commended the armed forces for rising up to the global challenges of insecurity and for defending our territory. He gave the commendation

in his remarks at the end of the Interdenominational Church Service to mark the 2021 Armed Forces Remembrance Day Celebration held at the Government House Chapel, Owerri Imo State. The Imo governor said reports indicated that in the North-east, Nigerian soldiers are now winning the war “because the numbers of casualties are going down and the militants are being driven away.” He also commended the wives of the fallen heroes for their resilience, hard work, enterprise and ability to manage their homes irrespective of the fact that the heads of the families lost their lives in the defense of their fatherland.

Edo LaunchesVigilante Network,Tasks Members on Insecurity The Edo State Government has launched a vigilante network to strengthen the state’s security architecture to deal with rising insecurity. The vigilante network, an initiative of Governor Godwin Obaseki, is a community-led effort to galvanise local communities to partner government security agencies

to provide security and protect lives and property in the state. A lead expert on the vigilante scheme, Mr. Yusuf Haruna, said the new security arrangement is intended to co-opt key actors in local communities to secure their spaces, gather intelligence, build trust and ensure adequate security across the state.

According to him, “Working with the vigilante network, we have divided the state into strata and every team is manning their area. We don’t want criminal elements to survive in any part of Edo State. “We want to ensure that Edo is safe for our people and free of cultists and kidnappers.

Our mission is to smoke out the criminals and ensure that they are not comfortable in our communities.” He commended communities that have set up vigilantes to work collectively for their sustenance, urging more communities desirous of setting up similar outfits to approach the state government for clearance and necessary guidance.

MONDAY JANUARY 11, 2021 ˾ T H I S D AY

24 HOURS...

Falana, Nine Others Sued over Parallel #ENDSARS Panel Alex Enumah in Abuja Rights activist and senior lawyer, Mr Femi Falana, SAN, and nine others have been dragged before a Federal High Court in Abuja, over the setting up of an independent panel to probe alleged killings during the #ENDSARS protests that rocked the country for three weeks in October last year. The plaintiff, Lucky Odigie, in the suit filed on his behalf by Oghenovo Otemu, wants the court to restrain the defendants from setting up any parallel independent inquiry to probe any alleged killings of Nigerians, including security operatives and the destruction of properties following the deployment of security operatives in the wake of the #EndSARS protests in Nigeria. Those sued alongside Falana include:

Ade Atambi, Adewale Adeoye, Chino Obiagwu (SAN), Affiong Affiong, and Prof Adenike Ogushe. Others are; Mr. Y.Z Yau, Mr Malachy Ugwumadu, Miss Fatima Umar and Mr. Olumide Ogele. In the originating summons dated December 31, the plaintiff prayed the court to determine whether by virtue of the Tribunals of Inquiry Act Cap 447 LFN 1990 and all other extant federal and state laws, regulations and enactments in Nigeria, the 1st to 3rd defendants, trading under the name and style of Alliance on Surviving COVID-19 And Beyond (ASCAB) can validly and legally constitute or set up a parallel independent panel of inquiry to probe alleged killings during the #EndSARS protests in Nigeria? “Whether by virtue of the

Tribunals of Inquiry Act Cap 447 LFN 1990 and all other extant federal and state laws, regulations and enactments in Nigeria the 4th to 10th defendants can validly and legally act as members of a parallel independent panel of inquiry to probe the killings of Nigerians, including security operatives and the destruction of properties following the deployment of security operatives in the wake of the #EndSARS protests in Nigeria? He prayed for a declaration that by virtue of the Tribunals of Inquiry Act Cap 447 LFN

1990 and all other extant federal and state laws, regulations and enactments in Nigeria, the 1st to 3rd defendants trading under the name and style of Alliance on Surviving COVID-19 And Beyond (ASCAB) cannot validly and legally constitute or set up a parallel independent panel of inquiry to probe alleged killings and destruction of properties following the deployment of security operatives in the wake of the #EndSARS protests in Nigeria. He also prayed the court for an order of perpetual injunction restraining the

defendants from conducting any parallel independent inquiry to probe any alleged killings of Nigerians, including security operatives and the destruction of properties following the deployment of security operatives in the wake of the #EndSARS protests in Nigeria. In the affidavit in support of the originating summons, the plaintiff said the action of the defendants in setting up the panel of inquiry is targeted at undermining the different panels set up by the different state governors to probe the

alleged police brutalities and human rights abuses by security agents. He said the panel of the 4th to 10th defendants are targeted at turning up a report or decision that will embarrass and undermine the Federal Government of Nigeria, the different state governments, the Nigeria Police, the Nigeria Army, all the security agencies as well as the existing panels of inquiries set up by the different state governors. No date has been fixed for the hearing of the suit.

Buhari Condoles with Former House Speaker over Death of His Family Members President Muhammadu Buhari yesterday condoled with a former Deputy Speaker of the House of Representatives, Babangida Nguroje, over the loss of seven members of his family in a road accident. It was gathered that the accident happened along Akwanga-Keffi road in Nasarawa state on Saturday night. The family members were reportedly returning to Abuja from a trip to Taraba State when the tragic incident occurred. Two sisters of Nguroje, their four children and one of the in-laws of the former lawmaker all died in the accident.

In a statement, President Buhari condoled with the family of the deceased. “I am lost for words to describe such multiple deaths in a single car accident in which family members perished,” the president said in a statement, Garba Shehu, his spokesman, issued on his behalf. “I received the news of this tragedy with deep shock and grief, and wish to express my heartfelt sympathy and solidarity with you at this trying and painful moment.” He prayed to God to forgive the gentle souls of the deceased persons and comfort those they have left behind.

Kalejaye Family Loses Patriarch The Kalejaye family yesterday announced the death of their patriarch, Dr. Olabode Kalejaye. The family made this known in a statement, describing him as a treasured husband, a father like no other, grandfather beyond compare, a true friend and a dependable ally. Dr Kalejaye was Chairman of Harvest Group of Companies. “As a patriot, he lived all his life in the pursuit of the good of Nigeria. As a businessman, his honesty and integrity attracted him to partners all over the world. The bridges he built in all his relationships are enduring in the hearts of men and women alike. He was a man who knew God and served Him with his whole being. In the lives of fellow men, he was a compassionate and generous presence,” the family said in a statement. The late Kalejaye is survived by his wife of 35 years Olabisi, his three children: Tinuola, Oluwatomi and Olabode Jr; grandchildren, brothers, sisters cousins, nieces and nephews. He was a devoted servant of God and Head Pastor of ShepherdHouse Church, Lekki, as well as an accomplished

businessman and entrepreneur. “He was a loving husband, a dedicated father, a faithful brother, a cherished son, a wise mentor and a gracious friend whose generosity knew no bounds. There will be an online virtual celebration of his life on Wednesday, January 13, 2021 starting 6pm prompt. It further announced that for anybody to access the event, they should go: PastorKalejayeMemorial.com

HONOURING FORMER AG...

L-R: Enugu State Commissioner for Works, Mr. Greg Nnaji; Secretary to the State Government, Prof. Samuel Ortuanya; Deputy Governor, Mrs. Cecelia Ezeilo; former Accountant General of the state, Dr. Paschal Okolie; and his wife, Stella, at a reception in honour of the former AG, in Nze Community of Udi Local Government Area of the state ...yesterday

Your Recruitment Fraudulent, Cross River AG Tells Protesting Fake Magistrates Bassey Inyang in Calabar Protesting Cross River State magistrates yesterday acknowledged that they were illegally recruited into the state’s judiciary. In a meeting with the Attorney-General and Commissioner for Justice, Tanko Ashang, the magistrates, represented by their leaders, pleaded passionately with Governor Ben Ayade to overlook every irregularity that had existed and regularise their employments. They noted that they were merely victims of the

irregularities and appealed to the governor to exhibit a fatherly disposition towards them. Earlier, the attorney reminded the magistrates that their employment was irregular as it did not have the necessary approvals required for the engagement of any officer into the public service of Cross River State. He then challenged them to bring forward any approvals that were obtained if any prior to their engagement or take the government to court if they strongly feel they have a right. Ashang insisted that as

lawyers, it was wrong for the magistrates to blackmail government through public protest in other to coerce it into endorsing illegality. “As a member of the Judicial Service Commission I am aware of the many petitions that trailed that purported employment and the investigations that revealed that some of you do not possess the necessary certification to have been so employed in the first place,” Ashang told them. Describing the protests embarked upon by the magistrates as blackmail, he wondered why they did not

state the correct position to the public but rather choose to whip public sentiments on the matter. Ashang, however assured the magistrates that he was going to work together with the JSC to regularize all the irregularities that existed while hoping that governor Ayade will exercise his usual deep humanity and give approval to regularise their employment in “the same way he recently regularized the employment of over 2,500 staff that were smuggled into the payroll by improper means.”

Insecurity: Akeredolu Calls for Multi-level Policing System James Sowole in Akure

Olubode Kalejaye

Ondo State Governor, Mr. Oluwarotimi Akeredolu, yesterday called for multi-level policing system as the best way to secure the country. The governor also called for provision of modern equipment for the Nigerian military to help in their fight against insurgents and other criminalities in the country. Akeredolu spoke at the state Christian service in commemoration of the 2021 Armed Forces Remembrance Day celebration, held at St. Benedict Military Catholic Church, Owena Cantonment Nigerian Army,

Ondo Road, The governor, noted that the issue of state police has become more necessary than ever. He lauded the Nigerian military counter-terrorism efforts aimed at ridding the country and the state of criminal elements and criminalities. Specifically, Akeredolu appreciated the support and commitment of the military in securing the state and confronting kidnappers and other elements who are troubling the peace of the state. He charged the security agencies in the state to work together, adding that collaborative

efforts among the security agencies can only yield a better result and peace for the people. He lamented that issues of better ammunition and welfare of the security agencies must continue to be at the forefront, to better encourage and support the officers in their fight against criminalities. Akeredolu implored the security agents not to rest on their laurel, stressing that despite their concerted efforts, criminality has not abated in the state and the country at large. While reiterating the need to remember the fallen heroes and be joyful in God’s presence, the

governor said despite the loses and death of public officers in the government, the devil must be shamed. In his remark, the Brigade Commander of the 32 Artillery Bridage, Brigadier Gen. Zakari Abubakar, appreciated the commitment of Akeredolu to the 32 artillery brigade, soldiers, widows and dependents of the fallen heroes. He said the command recognised and valued the continued supports and encouragement of the governor, urging him not to be tired of supporting them.

˜ ͹͹˜ ͺ͸ͺ͹ ˾ T H I S D AY

MONDAYSPORTS

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

NPFL: Rivers Utd Unstoppable, Maintain Lead on Maximum Points Rangers, Dakkada record away wins in Kaduna, Nnewi

Duro Ikhazuagbe Rivers United FC continued their push to make a statement in the Nigerian topflight this season as they crushed visiting Kwara United 3-0 to stay on maximum nine points from three matches on top of the NPFL. Two first half goals by Ifeanyi Anamena (in the 33 minutes) and Godwin Aguda (one minute later) and the penalty by Godwin Chika in the 90th sealed the top spot for the Pride of Rivers people. Closely on the heels of United is the pair of Nasarawa and Dakkada both on seven points. Lobi and Enyimba are on six points but goals difference separated them into third and fourth on the NPFL log. However, the highlight of the Match-day three fixtures of the NPFL was the two away victories recorded by Rangers in Kaduna against Jigawa Golden Stars and the Dakkada win in Nnewi against FC IfeanyiUbah. Israel Abia was the lone goal winner in Kaduna as the Flying

MATCH-DAY THREE Rivers Utd 3-0 Kwara Utd Lobi Stars 3-0 Wolves Plateau Utd 3-0 Heartland Katsina Utd 2- Adamawa Akwa Utd 2- 1 Abia Enyimba 1-0 Wikki MFM 1-0 Sunshine Stars Jigawa Stars 0-1 Rangers IfeanyiUbah 0-1 Dakkada Nasarawa 1-1 Pillars

Antelopes break the hearts of Jigawa Golden Stars’ fans in the 79th to earn Rangers victory. In Nnewi, Nnamdi Mejuobi got the winner for Dakkada with his 29th-minute goal. At the Lafia Township Stadium, Nasarawa United wrestled a point with seven minutes to go through Adamu Hassan after Nyima Nwagua’s 48th opener for Kano Pillars. The equaliser denied Pillars victory on the road and pushed the Lafia side behind Rivers United at No 2 on the log. In Makurdi, Lobi Stars defeated Warri Wolves 3-0 with goals from Ossy Martin (first minute), Mathias Samuel (64th), and Chinonso Okonkwo (90th). Wisdom Jumbo’s 61st-minute penalty was saved by Warri Wolves goalkeeper Mustapha Aliko. After putting aside the trauma of being kicked out of the CAF Champions League by Sudanese Al Merriekh, Enyimba also kept a clean sheet in their first two matches of the season, winning both fixtures to place fifth. The People’s Elephant have Nabil Yarou to thank for his 24th minute goal. Katsina United, MFM and Rangers all won their second matches of the season. While Katsina United’s Rasheed Ahmed strikes twice (42nd and 74th minutes) against Adamawa United, Dennis Obasi’s seventh minute goal is all MFM require to claim victory in Agege.

Titleholders Plateau United were ruthless against Heartland, winning their first match of the season by three goals to

be lifted from 18th to 10th on the log. Scorers: Muhammadu Zulkifilu (19th minute), Amos Gyang (55th-minute penalty) and

Jesse Akila (60th). Plateau have now recorded four points from possible six after players and officials were placed

on half salaries for their poor start to the season that included getting knocked out of the CAF competition.

Godwin Aguda was on target as Rivers United defeated Kwara United 3-0 to stay in the summit of the NPFL...yesterday

Christian Chukwu Rains National Principals’ Cup Attracts Interests Curses on Those Wishing from Sponsors Him Dead Registration begins for maiden edition active football playing days

Christopher Isiguzo and Gideon Arinze in Enugu

with Enugu Rangers and the national team heaped curses on those wishing him dead. “As you can see, I am Former Green Eagles Captain and coach, chatting in my house with Christian Chukwu, has my friends. I did not even dispelled speculations in go to the hospital because a section of online media of any sickness. “Whoever wished me dead that he passed on at the will die before me and we weekend. Chukwu who only shall attend their burials. I celebrated his 70th birthday wonder why anybody will on Monday, January 4th, wish me dead,” observed was rumoured to have died the ex international. Chukwu was full of praises on Saturday, January 9th Speaking with THISDAY to God for saving him from at his Enugu home in the ailment that took him company with family to Europe for treatment members and friends, the sponsored by billionaire Nigerian football icon said businessman, Femi Otedola he was surprised at such with additional support news coming up barely days from both the Enugu State Government and President after his 70th birthday. ‘Chairman Chukwu’ as he of the NFF, Amaju Pinnick. He admitted to receiving was fondly called from his series of calls from his friends and well wishers all over the world who want to find out whether or not the news was true. “ I don’t know where the story emanated from. Nobody has come to speak with me or any member of my family. I only heard people saying that I was dead,” stressed the former national coach of Kenya and Lebanon. He described the story as false, noting th a t i t i s u n p ro f e s s i o n a l f o r anyone to come up with such a dastardly report without any form of Christian Chukwu ...alive and well i n v e s t i g a t i o n .

The proposed National Principals’ Cup football competition is attracting interest from many sponsors across the country as the developmental event gathers momentum. It was learnt at the weekend that reputable banks and multinationals have been calling the organisers on the modalities for the title sponsorship and other windows available in the competition. “Companies are discussing with us on what it takes to be part of the event but we are looking at the logistics of a nationwide event and

so we are not rushing into it. “All the same, we are happy about the response from the public so far but in the days ahead, the public will also see how eager we are to take off,” a member of the organizing team revealed on Saturday. The Minister of Youth and Sports, Sunday Dare, shortly before the New Year reassured stakeholders that the ministry was committed strongly to the National Principals’ Cup because of its importance. “We rely on this event to bring back the lost glory in football at age-grade level

especially now that our U-17 and U-20 teams are struggling in continental competitions,” Dare hinted. Meanwhile, the organisers of the tournament, Hideaspus in conjunction with the Federal Ministry of Sports havestarted registration for the competition tentatively expected to kick off next month. The organisers therefore enjoined all the Nigerian Public and Private Secondary Schools to commence registration in order to be eligible to participate in the inaugural edition of the National Principals’ Cup.

The official website of the National Principals Cup www.principalscup.nghas been opened to Nigeria’s public and private schools. “Interested schools have been urged to register their schools and student athletes before the portal is closed for registration at a date to be announced later. The National Principals’ Cup is a talent hunt programme aimed at bringing out young talented footballers from tender with the aim of taking them to greater heights,” stressed the statement from the organizers.

Nigerian Teenage Striker Joins Egyptian Olympic Club FC Nigerian teenage striker, Lawal Olamilekan, has been recruited by Egyptian second division side, Olympic. Club FC as the Alexandria-based side battle for promotion. Officially known as El-Olympi , the over a century-old side, acquired the services of the 19-yearold Olamilekan from Imo State-based Brighter Tomorrow Football Club under the auspices of

forward-looking manager Emeka Darlington. “Olamilekan is from the same town with late Nigerian international Rashid Yekini and he is one of the players along with Chukwudi Agor that played the Golden Eaglets that won the FIFA U-17 World Cup in Chile,” Darlington disclosed. He said he was delighted with the progress of the kid player. “I’m happy

that Olamilekan has now signed for Oly after a very rigorous test and I’m hopeful he will do well. “He was actually signed for three seasons and this will be good platform to develop his potentials; he has started so well and played his first game for the club which was very impressive.” Olamilekan opened his account with El Olympi in a home tie on Saturday

against Mansura as both sides played out a pulsating 2-2 draw at the Ezzedin Yacoub Stadium in Alexandria “Olamilekan is definitely in good hands with coach Ahmed El Kass at Olympic Club,” Darlington noted.“ Coach El Kass was a great striker in his days with Zamalek “and I’m confident, Olamilekan will learn so much from him.”

Monday January 11, 2021

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Group to Buhari

“There is no position in law that permits the president to extend the tenure of the IG even though he has been illegally extending the tenure of military and paramilitary service chiefs” – Executive Director of Rule of Law and Accountability Advocacy Centre, Okechukwu Nwanguma, warning that extending the tenure of the IG, Mohammed Adamu, will amount to a violation of the Police Act.

ALEXOTTI OUTSIDE THE BOX

alex.otti@thisdaylive.com

United States of America: The Rich Also Cry “The Nigerian government is keenly monitoring the situation in the US and may impose sanctions on specific Americans and also a travel ban on President Donald J. Trump and his family. In addition, all those connected with attempts to scuttle democracy in the US may be restricted from traveling to Nigeria. We will not stand idly by and watch the will of the American people being subverted. Meanwhile, all Nigerian citizens should avoid non-essential travels to the United States until further notice”

he opening text above was a message I received from a Nigerian friend of mine serving in the US military. For a moment, I had thought the message was actually a press release from the Nigerian government but it turned out to be a joke! Credit for today’s title goes to the Mexican telenovela, “The Rich Also Cry”. In the the early to mid 1990s the Nigerian Television Authority was showing the soap opera which immediately became so popular that people across all ages and gender would book a space where there were television sets to watch the different series of the programme. For some of us with humble beginnings, television was one luxury that only the rich could afford. The next best form of luxury then was having access to a home that had a television set. For better reception, the television boxes, yes boxes, which were typically locked up when not in use, to prevent unauthorised access, had long outdoor antennas connected to the sets. Anywhere, those long poles stood on top of or by the roofs, one could easily tell, was the home of a ‘big man’. Veronica Castro, the star of the 1979 soap, was very successful and the Mexicans exported it to the rest of the world with so much pride, pomp and pageantry. For the past four years, the world has been treated to a cocktail of entertainment, embarrassment and outright absurdity. The ‘Veronica Castro’ of this soap opera is none other than Donald Trump himself. We have been front row audience to his unbelievable antics from the time he showed up as an aspirant to the US Presidential race in 2015 to today, just days to his eventual exit from the global spotlight into inevitable relative obscurity. Trump’s emergence as a Presidential Candidate of the Republican Party still remains a mystery to pundits. There were some obviously more acceptable aspirants like Ted Cruz, Mitt Romney and the award winning neurosurgeon, Ben Carson. Yet, somehow, Trump trumped them all and emerged the candidate of choice. I have heard people ask what is in a name? Well, as in this case, one could say, ‘a whole lot’! The name ‘Trump’ has a connotation that depicts everything that Donald Trump has so far turned out to be. The dictionary says that “to ‘Trump’ is to outrank or defeat someone or something, often in a highly public way. Originally, ‘trump’ implied a deceptive form of victory involving cheating, ….. and the term ‘trumped up’, meaning something that’s been falsely made up” Trump went on to face Hillary Clinton, who emerged his Democratic Party rival in the general elections. Trump ran a vicious campaign against the highly qualified lady, insulting, abusing and making all manner of false allegations against her. Some of us felt that Trump’s conduct before and during the campaigns, was enough reason for Americans to reject him at the polls, but we were wrong. Little did we know that the mainstream Americans enjoyed and celebrated what most of the observing world felt was unacceptable, indeed very bad, behaviour. In one of the election debates in 2016, Trump was asked if he would concede defeat if he lost the election and the man simply said he would not. Again, it was strange that

Trump some whites and rural dwellers had already cast their votes before the debate and the outcome of those debates was of no consequence as far as their votes were concerned. It was shocking to to hear that Trump won the election, even with fewer of the popular votes, than Hillary Clinton, his opponent. This victory drew attention to the American constitutional provision of electoral votes versus popular votes. Donald Trump was inevitably, therefore sworn in as the 45th President of the US even with the final vote count where Hillary Clinton won the popular votes with a margin of 2.1% and actual vote differential of 2.9m. Trump had 304 of the 538 electoral votes leaving Hillary with just 234. As soon as Trump took over power, he started dismantling whatever he saw as the legacy of his Predecessor, Barack Obama. Trump carried on as if Obama was responsible for everything that went wrong with the US. One of the first victims of his scotched earth policy was the affordable healthcare act, also know as the Obama Care without a credible alternative. He went on the war path with many well meaning individuals who did not agree with him in his Demolition Derby. These included politicians, journalists, and even the international community. In addition to these were also even his own aides, whom he hired and fired with reckless abandon. He took on the North Korean and Chinese Presidents in the same gusto as he did several long time allies of the US. He took the USA out of international and multilateral organisations at will, without any care of international niceties and the implications of such actions. He pursued his so called, “America First” agenda as if it meant “America Alone”. He placed visa bans on countries at will and mercilessly separated minors from their parents in the pursuit of unwelcome visitors from what he called “shit hole countries”. Without disguising it, he supported white supremacists and in the process tacitly encouraged violence against minorities and coloured people. His self-styled nationalistic ideals unfortunately reduced America’s influence in the comity of nations. The real impact of Trump’s actions is that he ended up representing everything America hitherto publicly preached against. As 2020 approached, and with the advent of the Covid-19 Pandemic which he obviously handled so poorly, it was clear his prospects of a second term were uncertain. The Democratic Party nominated Joe Biden, a compassionate and thoroughbred former Vice President, as its Candidate to confront Trump. In his characteristic manner, Trump abused and mocked Biden from

the very beginning, and called him all sorts of names, including but not limited to “Sleepy Joe”. I could remember a video of Trump asking his supporters what it would sound like to hear that he was defeated by ‘Sleepy Joe’. He boasted that if that happened, he might have to relocate to another country. One hopes that he is packing his bags to relocate to either China or even Iran! After running a heated campaign laced with insults and abuses, the election finally came on November 3. Trump is not one that would contemplate, let alone concede, defeat. As the reality of the election results began to dawn on him, he raised hell and brimstone, made all sorts of allegations of rigging and electoral malpractices, all without supporting facts. He raised a team of lawyers to file scores of frivolous law suits in the courts across the country disputing the election. Unfortunately for him, the Judiciary painstakingly dismissed them all. Meanwhile, once Biden was sure that he had won the election, he moved quickly to begin transition arrangements. Trump ensured that the in-coming Administration did not receive any cooperation from government. It was only after much public outcry, that Trump agreed to fund the transition comittee. The electoral college met on December 14 and at the end of their voting, Biden expectedly won the election with 306 votes against against Trump’s 232 votes . Still, Trump would not concede. He employed all sorts of tactics that the world would have sworn could not happen in America. He filed more lawsuits and the more lawsuits he filed, the more he lost. Interestingly, several of these lawsuits were thrown out by judges that he himself had appointed. His desperation was to lead him to attempt rolling out the military as reported by the media. Again, that also failed. Just last Wednesday, January 6 2021, Trump mobilised thousands of his diehard supporters to disrupt the certification of the electoral college votes at the Capitol, a constitutional requirement in which the Congress approves the results to pave way for the transfer of power. Ordinarily, this certification exercise, is a mere formality, which usually does not last more than an hour. Trump had earlier tried to blackmail his Deputy Mike Pence to truncate the process since Pence, as the Vice President, constitutionally doubles as the President of Senate. As was widely expected, Pence ignored him. So much physical and psychological damage was done by Trump’s mob attack. About five lives were reportedly lost in the attack. In issuing a statement to contain his supporters, Trump shockingly treated the domestic terrorists he had created from his actions and speeches, with kid gloves. He justified their action and assured them that he loved them. It was not until this barbaric action was condemned by the whole world and he saw that his empire of sand was finally crumbling, that Trump issued a terse statement assuring an orderly transfer of power on January 20, 2021. After over four hours of violence, congress defied all odds, reconvened and completed its job, certifying Biden and Harris as winners of the 2020 election. Not a few people are intrigued, even outraged, by the whole saga. Actions that were usually associated with the poor countries of Africa, Asia and Latin America are now the hallmarks of Trump’s America! Some people have tagged what happened at the Capitol as an attempted coup. In protest, many hitherto Trump ardent supporters started jumping ship. White House staff and aides began turning in their resignations. The Police Chief at the Capitol and the Sergeant At Arms, have also resigned. Democrats and a few Republicans as well including Vermont’s Republican Governor, Phil Scott have called for Trump’s immediate resignation or impeachment,

even though he has just about 9 days to the end of his tenure. Facebook, Instagram and Twitter have all suspended his social media accounts with which he spewed hate and falsehood. The ignominious end that Trump inevitably crafted for himself and truly deserves, is playing out in a way that he never anticipated. However, I don’t see that Trump will voluntarily resign going by his antecedents. I don’t also see that the impeachment process, even if initiated, can be successfully completed, given the limited time available. But a lot of lessons must have been learnt by America and I believe that the country will need to immediately begin some democratic reforms to ensure that another Trump does not emerge in future and take America and the rest of the world for a ride, without a car. America prides itself as the beacon of democracy. But this claim is challengeable. For instance, the basic foundation of democracy is the principle of one man one vote. One can understand the reasoning behind setting up the electoral college by the founding fathers. However, one can say that even that reasoning itself, was rooted in inequality based on education and exposure. But things have since changed. I am fully convinced that it is finally time to scrap the electoral college and apply the doctrine of universal adult suffererage and equality of votes. This is the case with other democracies in the world. If this reform had been made before 2016, a Trump Presidency would probably not have happened in the first place. Closely related to this is the doctrine of Separation of Powers. A situation where the Vice President is the President of Senate negates that hallowed doctrine. If Pence had behaved like Trump or if a Ruddy Giuliani had been the Vice President, the event of the 6th of January would have left a permanent damage on America. Again, the constitutional provision requiring Congress to certify electoral votes may have a been a formality in the past, but Trump has made everyone realise that democracy could be unraveled from that simple process. Of course, if the electoral college is scrapped, there will be no votes to certify in the first place. All told the strong American institutions prevailed over strong men . The US has many firm and courageous individuals to thank for rescuing her democracy. Men and women of the Judiciary, for instance, stood their grounds and must be fully complimented for this. The military also sent a clear message that it was loyal to the constitution and not to any individual. The electoral officers refused to budge even under pressure and threatening direct phone calls from Trump. The media even yanked him off air in the middle of a press conference when it realised he was dishing out lies to the public. Many congressmen and women opted to side with the truth, instead of succumbing to hollow party loyalty. I know someone would be wondering what my interest is with America when my country has not fixed even the most basic of its challenges. My response would be that if the country from where we copied our constitution and one which we see as our model decides to slide downhill, then it means there is no hope for us. America is a role model for democracy and rule of law. The whole world is inspired and guided by the American experiment, which has lasted over two centuries. It must not fail at this time when many of the world’s countries are being drawn towards democracy and are using it to promote peace, security and economic prosperity across the world. Having successfully managed that thin line with astounding results for the rest of the world to copy and benefit. America must continue along that glorious, even if tortuous path. In the resultant sustained success of the American society, I still believe that there remains hope for the rest of us.

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