Fitch Forecasts $42bn External Reserves for Nigeria in 2021 Obinna Chima Fitch Ratings has predicted that Nigeria’s external reserves would rise to $42 billion in 2021, higher than the $35.374 billion it stood at the end of 2020. This is according to figures obtained from the
website of the Central Bank of Nigeria (CBN). In a report titled, “Depreciatory Pressures on Key Sub-Saharan African Currencies to Lessen,” the global credit rating agency hinged the forecast on its expectation that Brent crude
would average $53 per barrel, compared to the $43.1 per barrel recorded in 2020. Moreover, the agency anticipated that the CBN would allow the official naira exchange rate to depreciate further over the course of 2021, notwithstanding improved
terms of trade and foreign exchange reserves. Fitch stated, “The naira lost 8.2 per cent of its value against the dollar in 2020, and we expect the CBN to allow the official naira exchange rate to depreciate further over the course of 2021,
notwithstanding improved terms of trade and foreign exchange reserves. “Given rising oil prices in 2021, we expect forex reserves to rise to an average of around $42 billion in 2021 (around eight months of import cover), compared to $36 billion in
2020. However, this will not negate the impact of persistent depreciatory pressures on the naira, notably as a result of rising dollar demand driven by the domestic economic recovery.” Continued on page 8
Museveni Emerges Ugandan President for Record 6th Term… Page 5 Sunday 17 January, 2021 Vol 25. No 9415
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COVID-19: Govs to Meet, Consider New Safety Measures NCDC records 1598 new cases Sanwo-Olu extends resumption date for level 14 and below Obaseki suspends reopening of all schools Segun James Nigerian governors have scheduled to meet on Wednesday, January 20, to
review and consider new safety measures in view of the increasing spread of the Covid-19 pandemic. This is as NCDC announce
1,598 new infctions raising confirm total to 108943, while discharged cases stand at 85,367 and deaths 1420. As usual Lagos took the top
spot 461, FCT 206, Plateau 197, Rivers 168 etc. Chairman of the Nigerian Governors Forum (NGF) and Ekiti State Governor, Dr.
Kayode Fayemi, who hinted at the development, said the elite group would be guided by science and facts on the way forward.
This is as Governor Babajide Sanwo-Olu of Lagos State, has instructed grade level 14 Continued on page 5
761 Days to 2023 Presidential Election, Politicians Scramble for Re-alignments Emerging consensus supports southern presidency Atiku plans another run Tinubu readies his political machine Saraki's supporters say he is the bridge between North and South Governors move to choose one of their own Tobi Soniyi in Lagos and Chuks Okocha in Abuja With the 2023 presidential election exactly 761 days away from today, politicians across the two major political parties – the ruling All Progressives Congress (APC) and the opposition Peoples Democratic Party (PDP) – have already begun some deft political maneuverings and high-level horse-trading in the calculations to succeed President Muhammadu Buhari. Although the Independent National Election (INEC) has yet to declare the next presidential election open, it had last year fixed the 2023
presidential run for February 18, 2023, thereby preparing intending candidates for early groundings. In a sense, therefore, the impending exit of President Buhari, after his constitutional two terms of eight years due in 2023, has thrown the race open to all comers. Among the array of those currently positioning for the nation’s top job, a former Vice President, Alhaji Atiku Abubakar and a former governor of Lagos State, Asiwaju Bola Tinubu, stand out. Without recourse to an Continued on page 9
Catholic Knights Deplore FG’s Position on Kukah... Page 9
BANKOLE & HIS BRIDE... Former Speaker, House of Representatives, Dimeji Bankole and his new bride Aisha, daughter of Kebbi State Governor, Atiku Bagudu during their wedding in Abuja... Friday
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Museveni Emerges Ugandan President for Record 6th Term Opposition leader, Bobi Wine rejects election results, says he is under house arrest
Tobi Soniyi After repressing the opposition during an election many believed was unfairly conducted, Ugandan Electoral Commission has declared President Yoweri Museveni re-elected for a sixth term. With more than 90 per cent of the votes counted, Museveni, 76, who seized power 35 years ago is said to have received over 58 per cent of the vote from Thursday's violence-marred election. “The electoral commission declares Yoweri Museveni elected president of the republic of Uganda,” said Chairman Justice Simon Mugenyi Byabakama. However, Museveni's main rival Bobi Wine (real name Robert Kyagulanyi Ssentamu) who trailed with 34.8 percent disputed the results of the election. Wine, a reggae star and actor turned political opposition leader says he is under house arrest with security agents surrounding his residence as the electoral commission declares Museveni re-elected. Wine, 38, came second with less than 35 percent of the votes. After rejecting the electoral process as fraudulent, Wine had last Friday declared himself winner of the election. On Saturday, he said soldiers had surrounded and blocked access to his house. Wine said on Friday he had video proof of voting fraud and would share the
videos as soon as internet connections were restored. He accused Museveni of fabricating the results and called the poll “the most fraudulent election in the history of Uganda”. Wine’s representative Benjamin Katana described the announcement as “an attempt to undermine the will of the people in Uganda”. He said: “The legal framework in Uganda gives us a number of opportunities and options to which we can contest this unfair process and going through the
Supreme Court is one of the options. “We ask the people of Uganda to stand firm and work with us to explore all the options … to make sure that we stop this coup.” Under Ugandan law, the burden of proof rested with Bobi Wine. The commission has deflected questions about how countywide voting results were transmitted during the internet blackout by saying “we designed our own system.” It could not explain how it worked. “The entire process has
been conducted in the dark and it lacks transparency,” Benjamin Katana, head agent of Bobi Wine’s National Unity Platform said. “From the beginning, we were assured by the electoral commission that each candidate or their agents will receive copies of the results from the districts before they are transmitted to the national tally centre, so we are able to verify when they are reading here – and that was not done", he added. On the eve of the vote, Museveni's government,
which is notorious for its intolerance of opposition and human rights violations, cut off access to the internet and social media in the East African country fueling insinuation that the election would.not be free and fair. With the death of Robert Mugabes (Zimbabwe) and Mobutu Sese Seko (Congo DRC), Museveni still represents the surviving league of Africa's sit-tight leaders. There are also presidents Paul Biya of Cameroon and Teodoro Nguema Mbasogo of Equatorial Guinea.
A new and dangerous method for tenure elongation in Africa is third-term syndrome, involving the indiscriminate change of national constitutions, often resulting in violent conflicts, disputed elections and general political instability. Many are of the views that Wine has shown that youths can revolutionize the political ecosystem in a continent where leadership is blighted by corruption, cronyism, bad governance and marginalization of minorities, particularly youths and women.
EMPOWERING BAALES OF LAGOS CENTRAL... R-L: Chairman, Board of Directors of Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr. Femi Pedro, Senator Oluremi Tinubu presenting the key of the Mini-bus to Baale Gedegede, Chief Ayodeji Thomas, while the Chairman, Caretaker Committee of APC in Lagos State, Alhaji Tunde Balogun, looks on during the distribution of empowerment materials to the Chiefs and Baales in the Lagos Central Senatorial District, at Surulere Local Government Area, Surulere, Lagos... Saturday
COVID-19: GOVS TO MEET, CONSIDER NEW SAFETY MEASURES workers and below in the state to stay at home for another two weeks, while the state keeps an eye on the growing number pattern. In a related development, the Edo State Government has suspended the resumption of all educational institutions in the state, even as it urged stakeholders in the state's hospitality sector to ensure compliance with health and safety precautions rolled out to halt the spread of COVID-19. Speaking against the backdrop of some new measures being taken against the spread of the second wave of Covid-19 around the world, Fayemi held the view that nothing could be ruled out ultimately in the bid to stem the tide of the growing spread of the virus. Reiterating that the governors and governments in general would be guided by science and facts as obtainable on the ground, the Ekiti State governor said the Nigerian governors and the federal government were not ones to blindly adopt measures from abroad, when the circumstances
are different. According to him, “We are generally not doing badly with the management of the situation and Africa generally is doing just fine except for say, South Africa. Therefore, while we agree that there’s a need to review some of the safety measures, it might not be necessary to consider another lockdown because there’s really no need for it. “So, we will be guided by science and facts and not because others are doing something, we’d have to do it too. No! The situation, as we know it, differs from area to area; from state to state. Apart from Lagos, Kaduna and a few others, where the numbers are pretty bad, many states in Nigeria are generally doing well with the management of the virus.” More instructively, Fayemi noted that the states would have to seize the initiatives on how to stem the tide on their own without having to wait from instructions from anywhere, citing Ekiti as an example, where he has just introduced new measures based on the facts on the ground in the state.
For example, Fayemi hinted at the fact that in anticipation of the vaccines by month end, Ekiti has already begun to acquire as many freezers as possible for storage, adding that the state didn’t need to wait for any advice from any quarter to do the needful. “At the end of the day, the states would have to decided and take responsibility. I can only encourage my colleagues to do the right things at this time. No state would standby and watch its people die. So, we will have to take responsibility at the end of the day,” he stated. Meanwhile, while extending the work-fromhome order to all state public servants to Monday, February 1, 2021, as parts of efforts to curtail the spread of the second wave of the COVID-19 pandemic, Governor Sanwo-Olu said the directive excluded staff on essential duty and the First Responders. According to a statement by the Head of Service, Mr. Hakeem Muri-Okunola, the governor however urged all public servants to stay
safe and ensure continued observance of all COVID-19 protocols, including physical distancing, use of facemasks, regular washing of hands with soap and running water as well as the use of hand sanitisers. The governor also asked that the weekly duty rosters should be maintained for effective service delivery by Ministries, Departments and Agencies of the State Government.
Edo: Suspension of Schools’ Resumption Applies to All The Edo State Government has said the suspension of schools’ resumption was applicable to all educational institutions in the state. This is as the government has urged stakeholders in the state's hospitality sector to ensure compliance with health and safety precautions rolled out to halt the spread of COVID-19. The state government noted that the directive would be reviewed on February 1, 2021, when the outcome of
efforts to check the spread of coronavirus in the state would be evaluated. Secretary to the State Government, Osarodion Ogie Esq., who disclosed this in a statement, said the state government was taking drastic measures to limit the spread of the virus and protect lives and livelihoods in the state. According to him, “The Edo State Government hereby announces that the suspension of schools’ resumption is applicable to all educational institutions in Edo State, from pre-school up to tertiary institutions. “This directive subsists till February 1, 2021, when efforts to check the spread of the coronavirus (COVID-19) are to be reviewed.” He said the government is collaborating with communities and organisations on enlightenment and enforcements of new measures to ensure compulsory wearing of facemasks in public, use of hand-washing stations, restrictions on religious and social gathering and new
guidelines for operations of markets, hospitality and transport sectors. Also, on the charge to stakeholders in the hospitality sector to ensure compliance with safety protocols during a meeting of the Association of Hotel Proprietors, Edo South, held in Benin City, Health Educator, Edo State Primary Healthcare Development Agency (ESPHDA), Mrs. Irene Uabor, said the sensitisation of stakeholders was necessary to drive compliance and enforcement. According to her, the state government has rolled out guidelines applicable to the hospitality sector to check the spread of COVID-19. "There's need for all relevant stakeholders to collaborate with government to halt the spread of COVID-19. We are experiencing a very concerning twist with the new wave as more children are being infected. “There are new guidelines for the hoteliers and we want them to create a taskforce within the association to help in monitoring and compliance,” she stated.
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Shell Kicks as Rivers Seizes Assets over Refusal to Pay N182bn Judgment Debt Peter Uzoho Despite two Supreme Court judgments, Shell Petroleum Development Company of Nigeria Limited (SPDC) has refused to pay the Ejama-Ebubu community in Tai Eleme Local Government Area of Rivers State, the sum of N182 billion in judgment debt awarded damages against the oil company in an oil spill dispute. But the Royal Dutch oil giant has contested the valuation. Shell advised the community not seek to enforce the award while the injunction was in place. It added that its current valuation of the size of the debt is “overstated” and “remains in dispute” in other court proceedings. The Royal Dutch company has been involved in a longrunning legal battle with the Ejama-Ebubu community of Rivers State, which in 2010 successfully sued the company for millions of dollars in damages for polluting its land. The community has defeated several appeals filed by Shell, most recently at the Supreme Court last November. Eight years ago, at Shell’s request, First Bank had reportedly provided a guarantee to the community for the original N17 billion award. The Supreme Court in its second judgment delivered last November, had dismissed an application by SPDC seeking to set aside a N17billion judgment over oil spill. A five-man panel of the court in a unanimous ruling dismissed the Shell application for lacking in merit. Justice Centus Nweze who wrote the lead ruling in the case, marked: SC/731/2017, and read by Justice Samuel Osuji, agreed with the respondents, Ejama-Ebubu Community, that Shell’s application was an invitation to the court to overrule itself. The judge said after a thorough examination of the briefs filed by parties, he elected to uphold the preliminary objection raised by the community. He, therefore, dismissed the application and ordered parties to bear their respective costs. THISDAY recalls that when Justice Ibrahim Buba of the Federal High Court in his judgment in 2010, awarded N17 billion and 25 per cent interest charge on the principal
sum against Shell, the oil giant appealed against the judgment and applied for a stay of execution of the judgment pending the appeal. As a condition for granting the stay of execution, the court required Shell’s bankers, First Bank, to provide a guarantee of the judgment sum plus interest. This condition was complied with as SPDC quickly rushed to Appeal Court and ultimately, the Supreme Court and lost. Following another decision by the Supreme Court last November, the police and court officials on January 12, stormed First Bank’s main branch in Port Harcourt, Rivers State to enforce the judgment and confiscate its property. After losing all appeals, the oil giant has been foot-dragging on obeying the judgment of the highest court in the land. Reacting to action, the
community lawyer, Lucius Nwosu (SAN), said the “coast is clear for enforcement of the judgment of 2010.” According to him, “First Bank will not honour their guarantee because they, at their own peril, failed to get a cash backing from Shell before they issued the guarantee," the lawyer had said. "Those other cases cannot take precedence over the Supreme Court," Nwosu added. But First Bank in a statement said the action, which resulted in unspecified properties being taken, was “unjustified, illegal and a reckless misuse of the machinery of justice." According to the bank's statement, the seizure ignored an interim court ruling obtained by Shell in December that restrains First Bank from paying out any money
toward the judgment debt and prevents the community from taking steps to compel the bank to do so. First Bank has filed its own pending motion seeking to cancel the decision permitting the confiscation of its property, the statement added. While reacting to the last judgment of the Supreme Court, Ejama-Ebubu’s lawyer, Nwosu, put the total judgment debt at N182 billion. “The judgment sum as at today, with the interest running, is in the neighbourhood of N182billion,” Nwosu had said. He expressed displeasure with the alleged plot by the Central Bank of Nigeria to frustrate the execution of a garnishee order absolute the community got against the account of First Bank by the victims/judgment creditors in their bid to execute the
judgment. But Shell has disputed the amount, saying said the ruling of the apex court did not decide liability or the size of the award. It also denied responsibility for the oil spill in the community, insisting that it was caused by ‘third parties’ during the Nigerian Civil War. “The ruling of the Supreme Court did not decide liability or the size of the award, which remains in dispute in other ongoing court proceedings. “It is our position that any attempt to enforce payment should not be permitted. It is regrettable that the legal process in this case has focused for so long on procedural issues and not the merits of the case. We have always maintained that we are ready to defend this case based on the available facts.
“This spill was caused by third parties during the Nigerian Civil War, a challenging period which resulted in significant damage to oil and gas infrastructure in the region. “While SPDC does not accept responsibility for these spills, the affected sites in the Ebubu community were fully remediated. “The claimants have, at their own admission in court, materially miscalculated and overstated the value of the award previously sought in this case.” Shell also warned the community not seek to enforce the award while the injunction was in place. According to the spokesman, its current valuation of the size of the debt is “overstated” and “remains in dispute” in other court proceedings.
FASHOLA INSPECTS DAMAGED PIER OF AIRPORT LINK BRIDGE... Minister of Works and Housing, Mr Babatunde Fashola, SAN (right) inspecting damaged pier of the Airport Link Bridge at Toyota Bus Stop along the Apapa - Oshodi - Oworonshoki Expressway in Lagos State… Thursday
FITCH FORECASTS $42BN EXTERNAL RESERVES FOR NIGERIA IN 2021 The rating agency also said additional pressure would come from the World Bank, with which the federal government is in talks for a $1.5 billion loan. It explained that a key prerequisite for the funding was that Nigeria moved towards a more “unified and flexible” exchange rate regime. It stated, “While we continue to think that a free float is unlikely given its probable impact on already high inflation, we forecast that inflation will rise to 14.6 per cent in 2021, compared to an average of 13.2 per cent in 2020. It is likely that the CBN will seek to at least
partially yield to World Bank pressure and weaken the official naira rate further to mitigate the growing gaps between the official naira rate and market-determined exchange rates, including the parallel market rate.” Latest figures released by the National Bureau of Statistics show that the consumer price index, which is used to measure inflation, rose to 15.75 per cent in December 2020. “We consequently expect the naira to weaken further, ending the year at N438/$ (10.1 per cent below end-2020 levels) and averaging N408.50 (7.2 per cent
below the 2020 average),” Fitch added. For African economies generally, Fitch noted that while risk sentiment was likely to remain fragile in the short term, it anticipated that depreciatory pressure on most of Africa’s major currencies would lessen in 2021, relative to 2020. Over the medium term, Fitch said it expected emerging market (EM) currencies to be supported by the broadening of the global economic recovery, the softness of the US dollar, rising commodity prices, and prospects for an easing of trade tensions.
It explained, “However, depreciatory pressures will remain more substantial in markets such as Zambia, where there are persistent investor concerns about widening fiscal deficits and rising debt loads, and Ethiopia, where political risk is elevated. “We at Fitch Solutions expect depreciatory pressures on key Sub-Saharan African (SSA) currencies to moderate over 2021, relative to 2020. In the short term, EM currencies could face some volatility given the continued spread of Covid-19. Covid-19-related restrictions have been re-implemented in a
number of countries worldwide, while in SSA itself—and notably South Africa—the number of new Covid-19 infections has been re-accelerating. “This could present headwinds to normalcy for some economies, particularly those that will likely struggle to access and roll out vaccines, and could impact risk sentiment as well as the performance of their currencies.” Over the medium term, it predicted a more upbeat outlook for EM currencies, as they would likely be supported by the softness of the US dollar, particularly given the “Blue
Sweep” in the US, which it stated suggested that fiscal and monetary policy might remain loose for a longer period, still-elevated commodity prices, and prospects for an easing of trade tensions. “While we do not expect President-elect Joe Biden to make a U-turn on trade policy with China, we do think he will likely be less confrontational than Donald Trump,” Fitch stated. “Prospects for global trade could improve and this would in turn support currencies of countries that rely heavily on China for trade, including many SSA countries,” it added.
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Okowa Performs Groundbreaking for N15bn Tower Fabrication Firm at Issele-Uku
Omon-Julius Onabu in Asaba
Delta State Governor, Dr. Ifeanyi Okowa, has performed the groundbreaking of the multi-billion naira Tower Manufacturing and Testing, Industrial Fabrication and Hot Dip Galvanising Facility in Issele-Uku, Aniocha North Local Government Area of the state. He, however, did this with a promise that his administration would sustain its infrastructural and human capital development programmes in order to stimulate increased local and foreign investment in the state. The project, which is at the instance of DELFRASCO Industries Limited, is Public Private Partnership (PPP) initiative involving the company and the State Government through the Delta State
Investment Development Agency (DIDA). Okowa said the state was richly endowed with human and natural resources, including about 40 per cent of Nigeria's gas reserves, pointing out that his administration had put in place polices and programmes to ensure an enabling environment for investment to thrive. The governor said the coming of DELFRASCO Industries further buttresses his administration’s commitment to diversifying the economy of Delta and enhancing its business competitiveness. "Since 2015, when we came on board, we have enabled the ease-of-doing-business in Delta State through several policy initiatives, including the establishment of Delta State Investment Development
Agency (DIDA). "It is gratifying that efforts in this regard are yielding the desired dividends and, I daresay, Delta is becoming the investor’s preferred destination. I urge the private sector in Delta to take full advantage of all incentives put in place to bolster ease-of-doing-business in the state. "Aside the establishment of DIDA, we introduced measures to facilitate quick and painless access to land, harmonised the tax regime, and have accelerated infrastructural growth. With an expanding market and a vibrant youth population, any investor in Delta is sure of a handsome return on investment. "Upon completion, this will be Nigeria’s and indeed, Africa’s first and largest multi-industry local content industrial complex, providing products and services
to power, oil and gas, telecom, agriculture and other industries. "Major customers are expected to include Transmission Company of Nigeria (TCN), Nigeria LNG Train 7 Projects, EPC Contractors in Energy and Infrastructure Projects and telecom infrastructure providers. "It is envisaged to meet the present and future demand for tower manufacturing in Nigeria as well as the whole of Africa, and contribute positively to the socio-economic development of Delta State and Nigeria," he said. He listed the benefits of the new project to include becoming a hub for power transmission technology, creation of over 1000 direct jobs, generating foreign currency earnings for Nigeria through export of towers to other parts of Africa,
development and training of Nigerian manpower, amongst others. The governor stated that Delta remained Nigeria’s gas and energy capital, holding about 40 per cent of the country’s gas reserves and supplying over 50 per cent of its daily gas demand. The governor, who was in company with his deputy, Mr. Kingsley Otuaro, also lauded the landowners and entire Issele-Uku community for their support and cooperation with the state government, urging them to continue in the same spirit to enable completion of the project on schedule. Chairman of DELFRASCO Industries Limited, Chief Chukwuma Okolo, in his remarks, noted that the project was one of its kinds in Africa, with its integrated
tower fabrication testing and galvanising facilities. Dr. Thomas Inugonum, represented the Transmission Company of Nigeria (TCN), expressed delight at the take-off of the project, assuring that TCN would partner the company to ensure early completion of the project. President-General, Issele-Uku Development Union, Chief Kenneth Ofodile, thanked Governor Okowa for supporting the establishment of the project in the community, saying the people looked forward to a robust relationship with the company. The ceremony was also attended by former Deputy Governor of the state, Chief Benjamin Elue; Obi of IsseleUku, Obi Nduka Ezeagwuna and top government and private sector functionaries.
Catholic Knights Deplore FG’s Position on Kukah Onyebuchi Ezigbo in Abuja The Order of The Knights of Saint Mulumba Nigeria (KSM) has deprecated the stance of the federal government on the ‘Apologise or Ouit Sokoto’ threat issued to Bishop Matthew Hassan Kukah, the Catholic Bishop of Sokoto Diocese, by a Muslim Solidarity Forum. The Nights contended that the statement issued by the Senior Special Assistant to
the President on Media and Publicity, Mallam Garba Shehu was but a sleight underhand rebuke of the Catholic Cleric instead of his traducers. A statement by the Supreme Knight, KSM, in Nigeria, Sir Diamond Ovueraye said, "The statement was a slap on the wrist for Bishop Kukah’s traducers, whose ill-advised and unfortunate threat negates the spirit of the Nigerian Constitution and unity of the
nation". He said the security of lives and properties was a prime responsibility of the government, while lamenting that the tongue-in-cheek slant of the statement was capable of emboldening the group to perpetrating acts that could be inimical to public safety. He noted with dismay that while Shehu's statement riled on the Bishop, it was deftly apologetic and patronising
to a group that apparently demonstrated scant regards to the nation's grundnorm, which guarantees freedom of movement and the inalienable rights of every Nigerian to live in any part of the country without let or hindrance. Ovueraye also noted that a few days earlier, the federal government had through the Minister of Information and National Orientation, Alhaji Lai Muhammed, reacted vigorously
to Kukah's Christmas day Homily, warranting further elucidation from the revered Bishop. He, therefore, implored the government to always be dispassionate in assessing what it considers criticism and to always take in good faith, constructive criticisms of its stewardship. Ovueraye said in the light of the needless furore that the federal government's reaction to Bishop Kukah's Christmas day Homily had
generated, government should ensure that nothing untoward happens to Bishop Kukah and all others, who because of their love for Nigeria speak up when they see things going wrong. "Let us demonstrate that irrespective of differences in tribe, religion and culture, we are all Nigerians. We must all look out for one another and contribute to building a virile nation, which we will be proud of," he said.
761 DAYS TO 2023 PRESIDENTIAL ELECTION, POLITICIANS SCRAMBLE FOR RE-ALIGNMENTS official kick-off, both men are already putting machineries in place to actualise their dreams, as their foot soldiers are already strutting the fields in many parts of the country. However, after failing to defeat Buhari in 2019 in a fiercely contested election, Atiku faces a big hurdle, as the two main political parties are inclined towards zoning their tickets to the southern part of the country for a balance of the rotational idea to power between the north and south. Curiously, too, within the ruling APC, opposition against Tinubu also thickens by the day. Undaunted, Tinubu, his associates say, believes he has what it takes to secure his party's nomination and will not back down. Yet, there are other dark horses lurking around the parties with the hope of beating both Atiku and Tinubu to the tickets. The long list includes governors, who are preparing to join the race, and have been engaging in deft political maneuvering, crisscrossing states, forming alliances and also reaching out to politicians outside their zones, solely to have one of them emerge the next president of the country. Among the governors believed to be considering a presidential run are the Ekiti State Governor and Chairman of Nigerian Governors Forum (NGF), Dr. Kayode Fayemi; Yobe State Governor, Mai Mala-Buni, who is also the Chairman of the APC Caretaker Committee and their Sokoto State counterpart, Aminu
Tambuwal. Quietly in the race too with ongoing consultations is a former President of the Senate, Dr. Bukola Saraki, who his supporters have described as the bridge between the north and south, Muslims and Christians, young and old as well as the private and the public sectors. Also, the Minister of Transportation, a staunch loyalist of Buhari, is reportedly planning to seek his party's nomination for the presidency, banking on the Southeast appeal. Investigations have also shown that the Senate President, Dr. Ahmed Lawan as well as the Kebbi State Governor, Abubakar Bagudu, are considering the possibility of throwing their hats in the ring. Whilst the APC has not categorically admitted it, some chieftains of the party have declared that the party intends to zone the presidency to the south. Chieftains of the party in the Southwest, including a former governor of Ogun State, Chief Olusegun Osoba, said recently that the APC had an understanding that the Southwest would produce the next president. Therefore, the emerging consensus is that the next president should come from the south, either in the APC or the PDP. This, many believe, may work against Atiku. According to sources in the presidential villa, Aso Rock, the president too is favourably disposed to having a southerner succeed him. However, for each aspirant,
there are different kinds of hurdles they have to scale before eventually securing their political parties' nomination. Opposition against Tinubu is no doubt gathering momentum, mostly from within the APC, as some of the party’s stalwarts are allegedly not disposed to him. But in spite of the obvious obstacles, both Atiku and Tinubu have remained undaunted. While Atiku is believed to have continued to consult, even though he is mostly outside the country, Tinubu, who is currently also outside the country, has emerged a frontrunner and already set up political and contact groups across the country, many of whom have continued to consult for him. Clearly Tinubu is revving his political machine in readiness for the 2023 presidential bout and he is sparing no effort towards this goal. On their parts, much as the governors are constrained by the fact that they still have a mandate to fulfill as states’ chief executives, they are surreptitiously reaching out to members of the political class to build their networks. Last year, for instance, Tambuwal visited former President Olusegun Obasanjo in his Abeokuta, Ogun State home – a visit many considered was more political than social. In the same vein, Fayemi was in Kaduna State last year to deliver the 50th anniversary lecture of the Centre for Historical Documentation and Research (Arewa House), a political legacy of the late
Sardauna of Sokoto, Ahmadu Bello. The lecture, which was part of a weeklong activity that marked the golden jubilee anniversary of the centre, would later spark controversy as many of Fayemi’s political rivals considered it a good platform to leverage and that the opportunity to deliver the lecture was not by sheer happenstance. APC is planning to commence new membership registration and update of its register on January 25. While has fixed its convention in December. In both parties aspiring politicians are positioning to control how both events will play out. Meanwhile, amid continued agitations over where the two major political parties, would pick their presidential candidates from ahead of the 2023 elections, the PDP has said it would not wait or spy on the APC before deciding where its presidential nominee would come from. The PDP noted that it was the inability of President Buhari and members of the inner cabinet to respect a supposedly gentleman agreement on presidential zoning that has heated the political atmosphere in the ruling party. Speaking exclusively to THISDAY on this, National Publicity Secretary of the PDP, Kola Ologbondiyan, said the party would follow due process in the emergence of its 2023 presidential candidate and denied speculation that the PDP was spying on the APC to choose its candidate first before taking a decision.
According to Ologbondiyan, "The PDP has not reached a decision on zoning. You also asked whether the PDP is dependent on APC before picking its presidential flag bearer for the 2023 presidential election, the answer is that the PDP is not spying on the APC before picking its presidential candidate and we will not take advantage of the APC before choosing our presidential candidate. "The truth is that the PDP as a party of the people will do the necessary consultations with all the stakeholders before choosing its presidential candidate. We shall not jump the gun, because of the conservation in the APC and therefore will choose our presidential ticket holder, when the time is due." He explained that it was due to the inability of the APC leaders to keep to an agreement reached in 2014 that has sparked agitation for presidential zoning within it rank. "We are not waiting to spy on the APC to pick the presidential candidate. The agitation for the zoning of the presidential candidate of the APC is due to the failed presidential promises by President Buhari. We are not waiting for the APC to pick and then use it as an advantage. No. "There are conversations in the APC. Let’s not lose the understanding of the conservation in the APC. It is because those who worked to bring President Muhammadu Buhari to power and having seen the failure of President Buhari and all the failed promises made and cannot be actualised and are already
afraid that the same thing will happen to the agreement they made before Buhari was chosen as a presidential candidate then. "You are aware that some prominent persons in the APC are saying there was no agreement and others are saying there is an agreement on the zoning of the presidential ticket. It is this that is causing the agitation for the presidential zoning in the APC. "For us in the PDP, we have our party organs that will take decisions based on the conversations that would arise within our own political party, the only party that understands the nuances and works in tandem with the nuances of our nation. And when the time comes and at the fullness of that time, PDP will take a decision on where the presidential candidate will come from. Further mocking the APC, he said, "Who in Nigeria today is interested in joining the APC, let alone teaming up with it? For us, APC has no understanding of party politics or understanding of governance. That is why, when they heard that the PDP has gotten approval to begin membership drive, they rushed to say that they wanted to do membership drive. "They keep postponing the date. Don't be surprised that on January 25, when they said they would commence membership registration, they postpone it again, because they had no understanding on party politics and organisations," he stated TO BE CONTINUED
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JANUARY 17, 2021 ˾ T H I S D AY, T H E S U N D AY N E W S PA P E R
EDITORIAL
Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com
FG AND UNCLAIMED DIVIDENDS The use of unclaimed funds may be worth it as long as the resources are well managed
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he current move by the federal government to securitise unclaimed dividends and dormant bank account balances of up to six years may not have come to many as a surprise. With a burgeoning public debt profile, dwindling oil revenues and a global pandemic that has turned the world upside down, even as the national macroeconomic fundamentals continue to head south, something had to give. But in implementing the plan, which came at an amazing speed, the interest of owners of these unclaimed dividends and dormant accounts must be protected. Many reasons, including death, account for the failure of shareholders to claim already paid dividends after six months while dormant bank accounts occur when their owners fail to operate or make them active for some time. As of December 2019, the pool of unclaimed dividends in the Nigerian capital market stood at N158.44 billion. This figure--which may have increased by now - as well as another yet-to-be established amount in dormant accounts across the nation’s financial system will come under a trust fund, by the federal government plan. We understand the misgivings by some Nigerians but the transfer of unclaimed assets to an unclaimed funds trust fund is standard practice in many parts of the world. The move by the current administration to escheat the funds to the federal government after a dormancy period is consistent with what is done in countries like the United States of America where state governments exercise such powers. But since dividends and bank balances are private wealth of investors, there are issues of law and due process. The underlining concern is how the policy benefits the owners of these unclaimed dividends. What, for instance, are the terms of repayment?
If the aim is to help the federal government attain its developmental needs in the areas of infrastructure, health, education, power and transportation, it is a laudable idea
Letters to the Editor
Does the composition of the Governing Council of the Fund which include key stakeholders such as the Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), Nigerian Deposit Insurance Corporation (NDIC), the DMO, company registrars and shareholders etc., provide enough safeguards? These are the questions that need to be answered. But we understand why the economic managers are exploring this unconventional method to mitigate the liquidity squeeze. It is the quest to seek alternative financing windows for government activities that gave birth to the recently enacted Finance Act 2020, which captures the management of unclaimed dividends and dormant account balances as part of many other provisions intended to mitigate Nigeria's fiscal frailties and economic crunch, significantly exacerbated by Covid-19 pandemic that has now entered its second wave with more ferocity.
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S U N DAY N E W S PA P E R EDITOR SHAKA MOMODU DEPUTY EDITORS OLAWALE OLALEYE, TOBI SONIYI MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR KAYODE KOMOLAFE CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR JOSEPH USHIGIALE
T H I S DAY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI DIVISIONAL DIRECTORS BOLAJI ADEBIYI , PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTORS ERIC OJEH, PATRICK EIMIUHI ASSOCIATE DIRECTOR SAHEED ADEYEMO CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO HEAD, COMPUTER DEPARTMENT PATRICIA UBAKA-ADEKOYA TO SEND EMAIL: first name.surname@thisdaylive.com
nder the structure put in place by Finance Act 2020, a N500 billion Crisis Intervention Fund will be created. It will be funded by Special Accounts, as well as other sources approved by the National Assembly. Again, under this arrangement, unclaimed dividends and bank balances are subject to a Perpetual Trust to be managed by the Debt Management Office (DMO), with a governing council chaired by the finance minister and a co-chair of 'impeccable integrity and reputation' from the Organised Private Sector (OPS). This Perpetual Trust is a special debt owed by the Federal Government of Nigeria (FGN) to genuine shareholders and bank customers, together with the relevant yield on the borrowed funds. Against the backdrop that the government is not known to have defaulted on its public debt obligations, there may not be much to fear on this score. However, it is important to ensure that the DMO - after taking over the funds - is supportive of efforts made to trace the real owners. The fact that the money will be transferred with interest as soon as the owners are established should boost investor confidence. That way, any negative fallout is expected to be mitigated. But how this new financing window impacts the overall economy depends on what the federal government does with the money that is borrowed after six years of dormancy. If the aim is to help the federal government attain its developmental needs in the areas of infrastructure, health, education, power and transportation, it is a laudable idea. The challenge, however, is that over the years, the federal and states governments have accumulated huge domestic and foreign debts. Most were largely frittered away.
TO OUR READERS Letters in response to specific publications in THISDAY should be brief (150-200 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (950- 1000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.
THE LABOUR OF OUR HEROES’ PAST
D
ear Security Personnel, I congratulate you on the occasion of the Armed Forces Remembrance Day. Your efforts in nation-building and nationhood cannot be overemphasised. You are the strength of the country, the backbone of every government. Your place in national development cannot be quantified. Your sacrifices are worthwhile.
You are celebrated. In peace and warfare, you are there. Under the sun, in the rain, you are there. Day and night, holiday or no holiday, you are there. The executive, the legislature or the judiciary cannot function without your strength. Your roles in securing territorial integrity, internal security and the maintenance of law and order stand you out. Without you, the country would
have been overrun by enemies within and without. I salute your gallantry. Every day, you deserve to be celebrated. The Nigerian Army, I celebrate you. You are at the frontline. Nigerian Navy, thank you for your efforts on our waterways. Nigerian Air Force, you are great in the air. The Nigeria Police, thank you for ensuring internal stability. Nigerian
Correctional Service, thank you for the safe custody of erring individuals. Thank you for making them better being than they came in. The Joint Task Force, thank you for coming together for the good of our country. State Security Service, National Intelligence Agency, Nigeria Customs Service, Nigeria Security and Civil Defence Corps, Nigeria Immigration Service, Nigeria Fire Service, National Drug Law Enforcement Agency and Federal
Road Safety Corps, you are all celebrated. Thank you for keeping us safe. Thank you for staying up while we are asleep. Thank you for receiving bullets on our behalf. You are global citizens. You are celebrated globally. Your roles in the World Wars are ineffaceable. You endure all terrains. Anywhere and everywhere you find yourself is your home. You pay the ultimate price! ––Qudus Adewale Lawal, Lagos.
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THISDAY, THE SUNDAY NEWSPAPER ˾ ͯ͵˜ ͰͮͰͯ
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NEWS
Acting News Editor ÌÙãÏÑË ÕÓØÝËØ×Ó E-mail: ÑÌÙãÏÑ˲ËÕÓØÝËØ×Ó̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙטͽͺͻͽͺͽͻ ̙Ý×Ý ÙØÖã̚
Utomi Faults Buhari, Says Nigeria Better Five Years Ago Says country not poverty capital seven years ago Asks political leaders to change their behaviour
Gboyega Akinsanmi Nigeria’s leading political economist and Co-convener, National Consultative Forum, Prof. Pat Utomi at the weekend rejected a claim by the President Muhammadu Buhari administration that Nigeria is better than it met it more than five years ago. Contrary to Buhari’s standpoint Wednesday, Utomi claimed that Nigeria was not the poverty
capital of the world seven years ago, but currently had more people living in extreme poverty than any country worldwide. He expressed these concerns on Friday during a phone conversation with THISDAY on the rising inflation rate and shrinking debt to revenue ratio, which was as high as 99% in Q1 2020 and 95% in Q3 2020. Buhari had, in a selfassessment report Wednesday,
claimed that Nigeria was better than he met it more than five years ago while hosting the Executive Secretary of the Nigerian Christian Pilgrims Commission, Revd Yakubu Pam. While the dust raised by the president’s self-assessment report was yet to settle, the National Bureau of Statistics (NBS) released its Consumer Price Index (CPI) with an indication that inflation rate increased by 15.75 per cent
(year-on-year) in December 2020 compared to 14.48 per cent in November 2020. Unlike the last six years, the year-on-year inflation rate was 13.74% in 2010, the year former President Goodluck Jonathan assumed office after the death of his predecessor, President Umaru Yar’Adua. In 2011, the year-on-year inflation rate was 10.83%; 12.23% in 2012; 8.5% in 2013; 8.05% in
IN HONOUR OF FALLEN HEROES... L-R: Speaker, House of Representatives, Hon. Femi Gbajabiamila; President of the Senate, Dr. Ahmed Lawan and Vice Presisdent Yemi Osinbajo (SAN) at the Armed Forces Remembrance Day Parade at the Three Arms Zone, Abuja... Friday
2014 and 9.01% in 2017, the year President Buhari assumed office. Under Jonathan, the country’s Gross Domestic Product (GDP) was $546.7 billion in 2014, the year before Buhari assumed office. It plunged to $486.8 billion in 2015; $404.7 billion 2016; $375.7 billion in 2017; then rose to $397.2 billion in 2018 and $448.1 billion in 2019. The official data of the World Bank put Nigeria’s 2020 GDP at $250 billion, though the bank’s projection revealed that rate might be around $360 billion in 2021 and $450 billion in 2020. Confronted with these stark realities under the Buhari administration, Utomi, founder/CEO, Centre for Values in Leadership (CVL), said: “The truth of the matter is that Nigeria is not in a good shape. Nigeria is the poverty capital of the world today. But it was not seven years ago.” He, also, said Nigeria “is more divided and tense today than it was seven years ago. Nigeria has been getting progressively worse. Every government has been worse than the one before it. That is the tragedy of Nigeria.” Amid worsening socio-economic indices under Buhari’s administration, the political economist warned that national disaster was looming if the country’s political leaders did not change their behaviour in
public service. Concerned about the future of the federation, Utomi said: “I have talked about this several times. National disaster is looming. The fact is that political actors do not understand the meaning of public service any more.” In concept, the political economist argued that public service “is a place where people make sacrifices to build a greater tomorrow” contrary to the thinking of the present political leaders at virtually all levels. He lamented that the country’s political actors “always want their rewards on earth and right now even if it destroys tomorrow,” which according to him, was the reason the federation was descending into deteriorating socio-economic and political conditions. Utomi lamented: “If we look at the scramble to borrow and what it is being committed to, which is not in productive activities, we know tomorrow will be scary and perhaps most uncertain. There is no question about that.” He, however, admitted that Nigeria could still be rescued out of the woods only if political actors, irrespective of their ethnic nationalities, political leanings and religious bias, could change their behaviour in public service.
China Has Something to Hide on Covid-19’s Origin, US Insists Tobi Soniyi United States’ Secretary of State, Michael R. Pompeo, said the US would continue to call for a transparent and thorough investigation into the origin of COVID-19. He accused China of not being transparent with investigations on the origin of the disease. However, China has continued to deny any wrongdoing. The country said it did its best to alert
the world and refused to accept claim that the virus originated from China. A statement issued early morning Saturday by the US’ Department of State declared that understanding the origin of this pandemic is essential for global public health, economic recovery, and international security. He said the US had repeatedly called for a transparent and thorough investigation into the origin of COVID-19.
Pompeo said: “To assist the vital work of the World Health Organization (WHO) investigative team that arrived in China this week, the United States government is today sharing new information concerning the activities inside China’s government laboratories in 2019. “In particular, we urge the WHO to press the government of China to address the following: “Illnesses at the Wuhan Institute of Virology (WIV): The United
Sex Scandal: Ogun Monarchs Lobby Abiodun to Reinstate Commissioner Kayode Fasua in Abeokuta
Eminent personalities in Ogun State including traditional rulers have been lobbying the state governor, Mr. Dapo Abiodun to reinstate the Commissioner for the Environment in Ogun State, Mr. Abiodun Abudu-Balogun, who was suspended for alleged harassment of a teenager, THISDAY investigation has revealed. However, the Ogun State Police Command has submitted its report on the allegation, thereby putting the fate of the suspended commissioner under uncertainty. Multiple sources confided in THISDAY at the weekend that eminent personalities in the state had been reaching out “to give
the embattled ex-commissioner, a soft-landing.” The governor had suspended Abudu-Balogun following an allegation by a 16-year-old secondary school student from his Waterside council, Miss Barakat Melojuekun that she was almost raped by the commissioner. The incident, according to little Barakat, occurred inside AbuduBalogun’s bedroom, during which she was allegedly lured in to type some documents for a fee. But Abudu-Balogun swiftly denied the allegation, saying it was an attempt to rubbish his hard-earned reputation. However, the Ogun State Police Command yesterday updated THISDAY on the extent of
investigations into the riveting case. The Police Public Relations Officer, Mr. Abimbola Oyeyemi, admitted that the command “has concluded investigation in the allegation against the suspended commissioner and sent our report to the office of the Director of Public Prosecution (DPP).” Oyeyemi, a Deputy Superintendent of Police, declined to divulge the content of the police report, insisting that he would not give details about the report. Also, Chief Press Secretary to Governor Abiodun, Mr. Kunle Somorin, said the state government was only waiting for the police report before it could raise a probe panel on the alleged scandal.
States government has reason to believe that several researchers inside the WIV became sick in autumn 2019, before the first identified case of the outbreak, with symptoms consistent with both COVID-19 and common seasonal illnesses. “This raises questions about the credibility of WIV senior researcher Shi Zhengli’s public claim that there was ‘zero infection’ among the WIV’s staff and students of SARS-CoV-2 or SARS-related
viruses. “WIV Research on ‘RaTG13’ and ‘gain of function’: Starting in at least 2016, WIV researchers studied RaTG13, the bat coronavirus identified by the WIV in January 2020 as its closest sample to SARS-CoV-2 (96.2% similar). “Since the outbreak, the WIV has not been transparent nor consistent about its work with RaTG13 or other similar viruses, including possible ‘gain of function’ experiments
to enhance transmissibility or lethality. “Secret WIV Links to Military Research: Despite the WIV presenting itself as a civilian institution, the WIV has collaborated on publications and secret projects with China’s military. The WIV has engaged in classified research, including laboratory animal experiments, on behalf of the Chinese military since at least 2017.” The US insisted that the COVID-19 pandemic was avoidable.
Family Demands Justice for Slain Nigerian in S’Africa Tobi Soniyi An Abuja based businessman, Mr Abudu Olatunde Mustapha has appealed to the Nigerians in Diaspora Commission (NIDCOM) to investigate the death of his brother Abudu Adedayo Temitope who was assassinated in Johannesburg, South Africa on January 5. In a letter to the Chairperson of the NDC Abike Dabiri-Erewa, Abudu said he wrote on behalf of the family of the deceased whose death, he said, had left a vacuum in the family. According to the complaint, Temitope was shot and killed in cold blood in Johannesburg, South Africa. The complaint read: “The deceased was a native of Ogun state in Nigeria. He was 40
years old. He was buried the following day according to Islamic rites at Oliphantslei graveyard in Johannesburg, South Africa. “The sad event took place on the 5th of January, 2021. He was shot dead by an unknown gunman according to an eye witness in Delvers Street, Central Johannesburg, SA. “He was rushed to Hillbrow Community Health Center where he was attended to and was confirmed dead. The South African police were alerted and they came to the scene of the incidence. They found 2 cartridges of bullets in the environment. “The forensic expert who was also notified of the shootings and investigated the unfortunate incident took the body of the
deceased for further investigation before it was released to his friends for burial the next day.” The complainant said his brother was married and blessed with three children in Nigeria. He also left behind five siblings who are all resident in Nigeria. “We implore the commission to wade into this matter to unravel the cause of his death. He was a law abiding and peace loving Nigerian who went about his livelihood in South Africa while he lived and worked there. He had no criminal records in South Africa or when he lived in Lagos, Nigeria. The complainant asked the commission to ensure that a thorough investigation was carried out and the culprits brought to justice.
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T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ JANUARY 17, 2021
OPINION
COVID-19 R-FACTOR AND WEAK LINKS Nigeria is not doing enough as Covid-19 is festering, writes Oseloka H. Obaze
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chain is as strong as its weakest link. That cliché underlines certain assumptions, oftentimes, dangerous and egregious. As a public figure and member of the Nigeria’s attentive public, I took some measures, personal and otherwise, to protect my family, staff and myself from Covid-19. I shut my office well before FGN announced a nationwide lockdown in 2020. Thereafter, my office had zero tolerance for casual visitors; non-mask wearing guests and guests not attuned to social distancing rules. I trained my staff in preventive measures. Such measures, I knew, entailed some financial burdens. I assumed them and it all seemed to work. Personally, I wrote and commented publicly on the limitations of FGN and State governments’ Covid-19 preventive measures and our lack of a national resiliency strategy. I tried to influence proactive and preemptive policies. All these were borne out of experience from a pandemic simulation exercise I was involved in many years back at the UN. On 16 December 2020, I closed my office after a rather rough business year, bypassing the usual Christmas party. Rather, my staff and I met for 30 minutes. I wished them well, shared pies, cookies, drinks and presents and sent them away for three weeks holidays with vehement cautions to stay safe and avoid large holiday’s gatherings and Covid-19. On 22 December, I underwent a routine pre-travel Covid-19 test. The next day, 23 December, 2020 my result indicated I had tested positive for Covid-19. It was a rude shock. By any measure, I was an unlikely Covid-19 candidate. Yet all my efforts had come to naught. In reality, neither FGN nor the 36 State governments can say categorically the number of Nigerians infected with Covid-19. As per Nigeria’s R-Factor (Infection Risk Factor), NCDCs extant national figures of 107,345 confirmed cases; over 20,000 active cases; 84,535 discharged cases and 1,413 deaths are gross and grotesque underestimation of reality. They represent an outlier. These prevalent estimates are way off base, buttressed by ambivalence, skepticism and flawed public policy responses and implementation. These numbers are also not in tandem with global Covid-19 demographics. Because Nigerians are not being broadly tested, it is assumed that the national rate of infection is low - a faux premise and narrative. Of those tested, contract tracing is at best abysmal. Meanwhile, Nigerians are being infected daily in hundreds of thousands, if not millions. Many continue to die, most deaths hardly ever documented. Indeed, for every prominent Nigerian who has succumbed fatally to Covid-19, there are thousands of unknown Nigerians befallen by such fate. Hence, the high Covid-19 infection rate in Nigeria is perhaps the best kept national secret. Meanwhile, Covid-19 related ameliorative efforts
remain essentially transaction-driven. So here I was. I had joined the global league of 89.7 million Covid-19 afflicted. It was not a badge of honour. Yet as a matter of obligation, I took personal measures to make my infection public. My constituents and people close to me had the right to know. I personally did the contact tracing- reaching over 75 people to forewarn them of my status as I went into isolation and consulted my personal physicians in Nigeria and the U.S. And then of course, my wife, an Emergency Room Attending Physician in the U.S. who had been in the Covid-19 frontline from March to November 2020 at Hackensack University Hospital in New Jersey, was on hand to do the needful. Interestingly, never for once, did I consider going into any Federal or State hospital or isolation centre. My confidence in them was short, if not totally lacking. Because, I was asymptomatic, I naturally worried about my spouse. As per her possible exposure, we assumed the worst-casescenario. After consulting our physicians, she went into isolation and commenced aggressive prophylactic measures. On her return to Nigeria in early December 2020, she had tested negative. When we did our pre-travel test three weeks later, she was also negative. Yet, she tested positive eventually and like me, remain in strict isolation, as I write. COVID-19 is real and brutal. It is festering in Nigeria. As I struggled with acute and bruising challenges of Covid-19, and tried to manage anxieties amongst family, kith and kin, friends and well-wishers, the policy wonk in me analyzed the possible weak link in the chain. Where was the chink in my protective amour; the index case, from whence I contracted the virus? It could have been any source; public, church, office and less so, family. My home was almost impregnable. But then, there were statistical realities. How many Nigerians, political associates, friends, acquaintances and relatives do I interface with daily, that were Covid infected unbeknown to me? As a nation, despite our best intention and efforts, Nigeria had done poorly in her per capita testing capacity and social orientation. In the South-east and Anambra State where I reside, the pervasive cavalier mentality remains benumbing. Anambra Governorship
If most Nigerians are not testing, it’s because they can’t afford to. On 6 January 2021, when the bulk of my staff went to UNTH, Utuku, Enugu to be tested, 32 other Nigerians were tested. Twentytwo or so, I reliably gathered, tested positive on that single day. The positivity rate is well over 75 percentile. We can extrapolate those numbers into weeks, months and years
aspirants and their cohorts seemed to care less. Indeed, one governorship aspirant and I had met up close at an event two days before I tested positive. When I did, I contacted him personally by SMS to forewarn him to take precautionary measures; he ignored my communication and went about his public events, even though he knew full well he had possible exposure. And such a person wants to be the next State Governor? Go figure! Naturally, I did a mapping of my possible index case. I had narrowed it to a newly appointed staff, who tended to treat Covid-19 with benign levity and youthful exuberance; and possibly, a domestic staff. I ordered my entire staff tested, at my expense. My new staff and one other staff member tested positive. I immediately placed them in isolation and under a managed medical regime. But there was the weak link. For every unsuspecting principal, like me, it could be a domestic, a driver, security staff or an office staff. So long as you don’t control their afteroffice-hours activities, they pose the weak link in your protective chain. Untested, they pose grave danger to you, your family and community. In an unguarded moment, an unwashed hand, a sneeze, cough or whisper in close proximity without masking up, could prove lethal. But here is the upshot: Many Nigerians are unaware of their Covid-19 status. Testing is very limited and testing costs ranging from presumably free, to N15,000, N37,000 and N50,000 and millions of Naira for hospitalization are prohibitive. If most Nigerians are not testing, it’s because they can’t afford to. On 6 January 2021, when the bulk of my staff went to UNTH, Utuku, Enugu to be tested, 32 other Nigerians were tested. Twenty-two or so, I reliably gathered, tested positive on that single day. The positivity rate is well over 75 percentile. We can extrapolate those numbers into weeks, months and years. If someone were to suggest that 50 to 70% of Nigerians were Covid-19 positive without being aware, such analysis would be considered tendentious and alarmist. But that probability is plausible. If FGN plans to leapfrog a shaky COVID-19 response foundation to invest N400 billion to vaccinate 70% of Nigeria’s 200 million people, the result, will be equally dismal as were the Covid-19 unused isolation centers, hoarded palliatives, and the lackluster testing regime. The first time around, in 2020, Nigeria dodged the Covid-19 bullet. In 2021 and beyond, she might not be so lucky. There’s still time to turn back the hand of the clock, even if it means another lockdown. For now, two scenarios seem plausible; either that FGN is in utter denial or has surreptitiously opted for the herd immunity approach. ––Obaze, MD/CEO Selonnes Consult, Awka, is a public policy expert and the 2017 PDP governorship Candidate in Anambra State.
Failing State And Flailing Economy Lanre Babalola and Jeremy Gaines contend that a failing economy exacerbates insecurity
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he Financial Times of 22 December, 2020 published an article on Nigeria with the headline claiming: “Nigeria is at risk of becoming a failed state.” The sub-head read: “With kidnapping and insecurity rife, the government needs to restore trust.” The article prompted much discussion in Nigeria, with some indignantly rejecting the suggestion, while others used it to castigate the current administration. However, what got forgotten in the interpretation turf war was to ask: Does the argument over whether the government has full control of the nation’s sovereignty actually help move the country forward? Symptoms and Causes: We would maintain that such a discussion is not helpful at all, as it mistakes symptoms for causes. Insecurity, at least in the eyes of scholars, is the result of policy inadequacies. Put differently, instead of arguing over whether the state has ‘failed’ or whether Nigeria is a ‘fragile’ state, the focus should be on coming to grips with the underlying causes of the insecurity and trying to rectify them. Most scholars likewise agree that there is a direct correlation in the Global South between economic dire straits and a rise in insecurity. This, we suggest, would be a more fruitful paradigm. Let us stop looking at government in terms of finger-pointing and blaming-and-shaming, and instead look at what has not been done for the economy with a focused view on what needs to be done. The last time an economy of a country with a population equal to or greater than that of Nigeria today, which currently stands at 206 million, manifestly failed was in the then Soviet Union in 1991, which led Mikhail Gorbachev to intervene with “Perestroika” (restructuring) and “Glasnost” (openness, transparency) to bring about system change in the then moribund political and economic system. The Russian workforce in 1990 was estimated at 115 million and unemployment was reported to have risen by 12 percent or approx. 13.8 million people in 1991 alone. While no statistics on unemployment were kept, as it was officially ‘impossible’ in the Soviet Union, one must add to the figure all those
who were employed in state corporations and ministries and did not actually do anything – that is, contribute productively to the economy. In Russia, under Gorbachev, and then Yeltsin, fundamental economic and structural changes were enacted, albeit only to culminate in the current oligarchic system put in place under Putin since the turn of the millennium. Since that time, no large country has since seen economic meltdown on the scale Nigeria is currently experiencing. Let us not take as our yardstick for the economy GDP, and let us not concern ourselves again with arguments over GDP-to-debt or government revenue-to-debt issues, as again these serve only to side-track attention away from the critical question of the economy. Instead, we will take unemployment, as it directly reflects the socio-economic impact of an underperforming economy. According to Okun’s Law, in the USA for each 2.5 percent drop in GDP, unemployment rises by roughly one percent. If we assume average labour productivity in Nigeria to be 2.5 times lower than in the USA, then for each one percent fall in GDP unemployment will rise by one percent. According to World Bank estimates, Nigerian GDP fell from US$ 494bn in 2015 to US$ 448bn in 2019 or by about 9.3 percent and continued to fall in 2020. In other words, unemployment invariably went on rising. Taking Nigeria alongside a peer group of countries with similar populations and unemployment challenges, specifically youth unemployment, as captured in the table below, shows the acuity of the problem. Country Year unemployment Nigeria 2020 Brazil 2019 Pakistan 2020 Indonesia 2018
Population General unemployment Youth Youth underemployment 206m Q2: 27% 9.7% 28.2% 210m 11.9% 27.39% 223m 4.45% 8.54% 267m 4.51% 17.04%
If one looks at the table, then Nigeria is clearly performing
worst. In other words, where Nigeria is manifestly failing is economically – and it is first and foremost failing the younger half of its population, the under 25s, as is Brazil. One could go even further and say that if it were not for the informal economy, which supplies many with ‘informal’ employment, the overall economy would be in much more dire straits. In other words, the economy has failed Nigeria, and as a consequence insecurity has risen, which serves only to reinforce economic underperformance, thus leaving Nigeria in a vicious cycle. To break that cycle, Nigeria must immediately do eight things: One, boost economic activity and productivity at all levels. At present our maize farmers cannot compete internationally, just as their counterparts in rice or cassava cannot. An increase in productivity would further boost economic growth, and beneficially changes the ratio between unemployment and weak GDP, because if productivity goes up, then unemployment rises more slowly. Two, systematically adopt innovation and science, and intermediate technology coupled with digitization. For example, tractors, smartphones, and hybrid seeds would allow efficient ploughing, real-time meteorological data, and higher-yielding crops, respectively. Three, redirect and optimise use of scare resources into productive activities and avoid palliatives that merely prolong the Final Point of Collapse, and do not prevent it. They paper over a crack that simply gets wider. The same financing could be applied to boost agricultural investments. For example, the Anchor Borrowing Programme does not help the smallholder become a less-smallholder, it simply helps him sell his product. Here, effective land title and certification would offer the smallholder a means of owning collateral; and improved extension services would improve his productivity. –Babalola and Gaines are on the board of The African Politeia Institute (See concluding part of the article on www.thisdaylive.com)
T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ JANUARY 17, 2021
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LETTERS
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NIGERIA, ETHNICITY AND 2023 PRESIDENCY
f the 2023 presidency is relieved of competition and minimised to an ethnic contest, then we are consciously backtracking to the mistakes of 2015. Ethnic considerations brought President Muhammadu Buhari to power. And I am sure most Nigerians have witnessed the calamity that this current administration is. When leadership is robbed of progressive competition, competence is impaired. We will keep chasing the will-o-the-wisp of progress as a country for as long as the tribe of a citizen matters more than his antecedents, competence level and abilities. ‘’Turn-by-turn’’ presidency will only yield ‘’turn-by-turn’’ misery. Nepotism here thrives largely because a leader selected on the basis of where he represents generally seeks to protect the interest of that base he feels solidified his claim to power. It is the reason Buhari shows exceptional consideration for his ‘’political base’’. In fact, one of the murmurs among members of the All Progressives Congress (APC) – the president’s party – is that Buhari and his camp commonised the contributions of the south-west to his electoral victory in 2015 and 2019. The president feels strongly that his victory came by the hands of his fanatical followers in the north. So, we are only reinventing a broken wheel by putting more premium on where the next president should come from rather than on ‘’what he had done, what he is doing; his leadership qualities, academic background, mental state and health condition’’. And with the entitled perception that ‘’it is our turn; the president is our brother’’, nepotism is systematised. Really, why should a leadership position that defines and determines the future of the country be ethnicised? Why is there no campaign for the
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Buhari
basics of leadership? Why is there no clamour for the qualities, the credentials and competence level the next president of Nigeria should possess? Why is it always about ethnicity? Really, we are doomed to have a reprise of the indomitably failed Buhari administration, if we persist in the pursuit of ethnic-based leadership. It is revolting that presidency in Nigeria is designed in such a way that every ethnic group, particularly the predatory political class, sees it as an entitled offering that must be acquired for the sake of promoting individual and sectional interest. The base mindset of -- ‘’it is our turn to take a crunch at the cake, so pass it!’’ If ethnic-based presidency is so important to us, why can we not fragment the centre and return power to the federating units? So, every group can decide how to bake and eat their own cake. On January 6, 2021, some Igbo political leaders emerged from a meeting and asked all political parties to zone the 2023 presidency to the
south-east. Among these Igbo political leaders were a former governor who took a hiatus from prison and a former senate president facing corruption charges. I was startled. Who
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among these ones is fit to be president? Here is their statement in brief: “Hence as power is expected to rotate to the south in 2023, the meeting noted that the south-east is the only zone in the south that is yet to produce a president of Nigeria in the current democratic dispensation. “Consequently implore all the political parties to cede their presidential tickets in the 2023 general election to the south-east in the interest of justice, equity and national unity. To make good our demand and reciprocate such good faith, we have decided, as a geopolitical zone with a substantial presence in every part of the country to give a block vote and throw our full weight behind any major political party, particularly the APC (All Progressives Congress) and PDP (Peoples Democratic Party (PDP), that zones its presidential ticket to the south-east in 2023 general election.”
written by Bobi Wine titled, "The West Helped Cripple Uganda". The two submissions from Bobi seem separate like parallel lines and contradictory. It's a double speak that mirrors the praxis of every aspirant who intends to unseat an incumbent. You groaned that the West was complicit in crippling Uganda but you also want the West to serve as jury over your election. This is how often we set ourselves up as stooges for the West to toss around like coins. What Bobi is unaware of is that if per adventure Museveni is in the bad books of the West and through foreign powers he's unseated and Bobi gets installed, it's another race towards the enchainment of Ugandans, for he who pays the piper
by the north. In fact, it is a campaign fail if any candidate from the south-east preaches restructuring. The nagging fear and suspicion that the Igbo will secede from the country if they get to power is intense. So, what do we hope to benefit from Igbo presidency if we cannot have restructuring?’’ No political party should cede 2023 presidential tickets to the south-east on the basis of nothing but ‘’ethnicity’’. The process should be competitive to allow the best minds to take charge of the country – even if candidates from the south-east are specially considered. There should be less emphasis on ethnicity and more stress on competence, credentials, antecedents, and ability for leadership. And even if the south-east gets a go at the presidency, the next president should not be from the pool of the perpetuators of the region’s underdevelopment. ––Fredrick Nwabufo is a writer and journalist.
To Mai Tangle with Love
he cold hands of death on Sunday, 10th January 2021, crept in and took the life of HRH. Dr. Abdu Buba Maisharo II who was the 15th Mai Tangle of Biliri, Gombe State. The vast majority of us and the late Mai Tangle's acquaintances will attest to the fact that he was a peaceful, humble, compassionate and kind-hearted crowned head. He was indeed a revered monarch who loved his subjects with all his heart. This legend will be cherished and his legacy will play on the stage of many generations yet unborn. His quest for peace and unity in cultural diversity enamoured him to form
the "Pissi Tangale" which is translated in English as "Tangale Day". Since its inception, Pissi Day continues to enhance and promote the unity in diversity amongst the clans and dialects of the Tangale people thereby boosting the cultural image and cohesion of his kingdom. This singular act, out of his numerous achievements will not be truncated because of his demise but his legacies will endure and stand the test of time because of the wheel of sustainability that he ensured was put in place when the Mai Tangle was alive. The commitment of the late monarch to peace, unity and tolerance earned him numerous awards notably the "Gombe State for
BOBI AND THE CHRONICLES OF SAWOROIDE
read recently on social media how Ugandan Presidential aspirant Robert Kyagulanyi Ssentamu also known as Bobi Wine bemoaned the refusal of the Ugandan government to grant American election observers approval to observe the forthcoming election in Uganda. The blame he totally laid at the door step of Yoweri Museveni as symptomatic of his long history of tyranny in Uganda. In short Bobi is crying out to the world that should in case the election is marred by mass vote rigging and election irregularities as he had charged, Museveni supervised the process by ensuring there were no external umpires to serve as jury over the election. I also read the synopsis of an article
To make it clear, the ‘’struggle’’ for 2023 presidency by some south-east leaders is not in the pursuit of the Igbo interest. Rather it is in the pursuit of the interest of the ruling elite of the region. The overarching interest of the Igbo is a restructured Nigeria where every region can grow at its own pace. I argued in a previous article titled, ‘Ndi Igbo forget 2023 presidency; it’s a trap’, that restructuring is not achievable with a president of Igbo extraction and I gave my reasons. Please permit me to iterate my point here: ‘’conversely, we could forge alliances with progressive groups with the primary aim of achieving restructuring or devolution of power to states ahead of 2023. That is, we support any candidate from any section of the country who has indemnifiable commitment to restructuring. We extract that commitment. The reason for my argument is a president of Igbo extraction pushing for restructuring will be resisted
dictates the tune. This is an age-long Western playbook aptly chronicled in the Yoruba timeless thriller Saworoide. Lapite who cheated the king making process of the land of Jogbo ascended the throne only to find out that cheating the process came with a caveat which is that he would die if he ever listens to the Saworoide being played and also the consequences of sharing the kingship with someone else. Lapite ruled the people of Jogbo with iron fist and as symptomatic of many despots, he merchandised the resources of the land of Jogbo for personal gains. The people of Jogbo being aware of Lapite's faulty ascendance to the throne stole the Adé ide (brass crown) knowing that if the crown is absent
from the palace for 15 days Lapite dies. Lapite sought the assistance of Ogagun Lagata, a military officer to recover the Adé ide. Lagata brought back the brass crown but killed Lapite to ascend the throne and became worse than Lapite. Museveni has been the President of Uganda since 1986, I can tell you for free that if by sheer luck Bobi becomes the President of Uganda, he would be worse than Museveni. It is always customary of political wannabes to leverage on the hopelessness of people and incumbent tyrants to offer a glimmer of hope only to get to the position and become worse than what they condemned. ––Kehinde Oluwatosin, kehindeobabatunde@gmail.com.
Maintenance of Peace and Security Awards" in 2004. His service and dedication to God, the body of Christ and humanity, made the Bible Society of Nigeria honour him with Life-Long Service Certificate of 20 years service, from 1979-99. ECWA Church Ashaka also awarded him the Certificate of Appreciation as her adviser for six years (19952001). He was also awarded a Certificate of Philanthropic Service by ECWA Bayara LCB, Bauchi in 2003, amongst many others. His enviable profile was included in the publication of Contemporary Who’s Who by American Biographical Institute, 2004. HRH ascended the throne of his ancestors when he was presented with a Second Class Staff of Office in 2002; in that exalted position he became the third highest traditional ruler in Gombe State. He bagged a doctorate degree in Canonical Law (Honoris causa) by Pan-African Christian Theological University Inc, Abuja. He also attended the
Institute of Management and Technology, Enugu, 2004. Consequently, he was made the Chairman, Council of all Christian Monarchs in Nigeria, a position which he used to prove his exceptional leadership qualities by bridging the gap of discord and disunity in the circle of Christian monarchs in the North and Nigeria at large. HRH. Dr Abdu Buba Maisharo II was a dogged fighter, a loving father, Christ Ambassador and peace advocate. He will be fondly remembered as a monarch who fought the good fight, who finished the race and who kept his faith. While we mourn his death, we must also remember HRH would want us all to move on with our lives. As Lancelot said, "If the legends are true maybe someday we will be greeted with their greatness once more." Therefore, let's mourn with the hope that a seed shall raise from his throne who will be greater than his father. ––Samson Kefas Galadima, Gombe
Money Down The Toilet
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ometimes it's hard to get to the bottom of a government spending story but not in this case. The secret service has been spending $3000 a month on toilet facilities as a consequence of protecting Ivanka Trump and her family. Ivanka's house apparently has six toilets, one for her, her husband and one each for her three children leaving one spare for the secret service but no,
they were not allowed to use it. Of course cleaning five toilets would have been enough work for Ivanka, or her husband so I can understand why she wouldn't want to include the sixth toilet on the daily cleaning list. Some people live in a different world from most, a very privileged, entitled one. It seemed a crap way to treat the secret service. ––Dennis Fitzgerald, Melbourne, Australia
T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ JANUARY 17, 2021
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INFOGRAPH
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THISDAY, THE SUNDAY NEWSPAPER ˾ Ϳ˜ 2021
BUSINESS
Editor: Kunle Aderinokun 08033204315, 08111813084 Email:kunle.aderinoku@thisdaylive.com
A transmission station
Nigeria’s Endless Cycle of Power Failure Nigeria, a country of over 200 million people, endowed with every resource needed to generate power, including large gas deposits, hydro, solar and even wind sources, still relies on roughly 3,500 to 4,000mw of electricity for its huge population. In this report, Emmanuel Addeh asks if the country will ever achieve stable and reliable electricity supply, with what appears to be all motion, no movement by past and current players in the industry
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ixty years after Nigeria effectively gained independence from its British colonial masters, the country is yet to come close to attaining any level of sufficiency in its pursuit of reliable power for its people and their businesses. Today, it’s no longer shocking to see offices owned by electricity Distribution Companies (Discos) in several states of the federation, being powered by generating sets and some others using rechargeable lamps when customers visit to carry out transactions. In the recent past, from those who have had the full confidence of the Nigerian people, like the late Chief Bola Ige through to Prof. Barth Nnaji and then lately, Mr. Babatunde Fashola to the not so smart ones, the story of failure to transform the sector has been the same. The problems of the power sector have several layers with many different sides, but past and present governments’ attempts, mostly half-hearted, have not brought about any marked changes, save for blame games. In the Beginning Historically, the geographical space now called Nigeria was said to have had its first semblance of power in 1886 , when it had its first two power generatorsinstalledinthecolonyofLagos,followed by the first electric utility company, known as the Nigerian Electricity Supply Company, which was established in 1929. In 1951, an Act of Parliament established the
Electricity Corporation of Nigeria (ECN), while by 1962, the Niger DamsAuthority (NDA) was also established for the development of hydroelectric power. This again underwent a major change in 1972 when the ECN and NDAwere merged to create the National Electric Power Authority (NEPA), which before it was effectively liquidated, also failed to satisfy the needs of the country. With the failure of NEPA, which was fully controlled by the government, the need to unburden and unbundled the sector and allow private sector players take part arose, with the argument that indeed government should have no business in business. In 2001, the so-called reform of the electricity sectorbeganwiththepromulgationoftheNational Electric Power Policy which had as its goal the establishment of an efficient electricity market in Nigeria. It had the overall objective of transferring the ownership and management of the infrastructure and assets of the electricity industry to the private sector with the subsequent creation of all the necessary structures required to form and sustain an electricity market in Nigeria. In2005,theElectricPowerSectorReform(EPSR) ActwasenactedandtheNigerianElectricityRegulatory Commission (NERC) was established as an independent regulatory body for the electricity industry in Nigeria. In addition, the Power Holding Company of Nigeria (PHCN) was formed as a transitional
corporationthatcomprises18successorcompanies (6generationcompanies,11distributioncompanies and1transmissioncompany)createdfromNEPA. Under the Olusegun Obasanjo government, NEPAwas renamed Power Holding Company of Nigeria (PHCN) and EPSRA was enacted, to allow private investment in electricity generation, transmission, and distribution. That development effectively commenced a privatisation programme which ended in 2013 with the federal government giving up about 90 per cent of its stakes to the newly created Generating Companies (Gencos), holding on to 40 per cent of the Discos and taking full ownership of the Transmission Company of Nigeria (TCN). Ironically, NEPA, a vertical integrated utility company, in all its years of operation and billions of naira sunk into its activities could only muster a total generation capacity of less than 6,200 MW from two hydro and four thermal power plants even at its peak. Despite the several name changes and consequently, the “privatisation” of the sector, not much has happened, not much improvement has been achieved, making many Nigerians align with a former Minister of Power, Prof Chinedu Nebo, who once posited that indeed there are demons in the sector who frustrate every attempt at providing power for Nigerians. Has Privatisation Failed? Indeed, not a few Nigerians hold the view that the much touted privatisation which was seen as the panacea to the failure of the sector in the past
, has itself failed. From lowly placed Nigerians to a handful of power brokers, the consensus is that if the exercise that was consummated over seven years ago has not yielded any significant fruits in terms of power supply, then it should be reviewed. One of those who have called for an outright undoing of the programme is no other person than the current number three man in the country. Senate President, Ahmed Lawan, while decrying what appears to be the movement of a rocking chair in the sector which seems to have witnessed many activities in the past decades, without commensurate progress, called for the outright dissolution of the privatisation deal. “If we leave them (sector players) for the next 10 years, there would be no power in Nigeria. We gave them our common patrimony and they still come back as Discos and Gencos to look for money from the public. “I think it’s time for Nigeria to consider reversing the privatisation of the power sector or they should just cancel the entire privatisation process completely. “The privatisation has so far not been successful. We expected efficiency, effectiveness in power supplies but probably on both sides, maybe the purchase agreements were not adhered to on both sides. What is obvious is that the Discos particularly have no capacity at the moment to supply us power,” he said. He’s not the only top government official that has called for a review of the exercise. One item
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THISDAY, THE SUNDAY NEWSPAPER ˾ Ϳ˜ 2021
BUSINESS Nigeria’s Endless Cycle of Power Failure on the proposal that was to be submitted to the National Executive Council (NEC) under the current administration, once hinted on the move also. “Electricity supply in the country is broken down completely. Reversal is one of the recommendations we are putting forward, but we know that it has implications. The problems are many; the entire sector is broken, there is a fundamental structural problem,” the head of the committee once hinted. But it’s not as easy as snapping a finger. The issues are complex. However, NERC, the power sector regulator, vehemently disagrees with this position of cancelling or reviewing the privatisation that was concluded in 2013. The regulator argued that the federal government does not have the money to buy back the utilities and may be acting in contravention of the agreement entered with the new owners. It added that any attempt to reverse sales of the utilities will send a wrong signal to potential investors, advising that rather, a bond issue proposed for the industry to make cheap funds available for investors should be considered. The body, however admitted that the operators in the sector had not met the signed level of performance agreement reached between them and the federal government represented by the Bureau of Public Enterprise (BPE). The Blame Game Continues While Nigerians continue to live in darkness and struggle to do business with improvised sources of power, the major players, namely the Gencos, TCN and Discos continue to engage in the blame game. It is not uncommon to hear the Discos blaming the transmission company of having too weak infrastructure to wheel enough electricity to its facilities or the TCN blaming the distribution companiesoffailingtoimprovetheirinfrastructure in their over seven years of existence. On the other hand, the Gencos believe that the both the TCN and the Discos are to blame since they (Gencos) have more than enough generation, but are being impeded by the limited carrying capacity by the TCN and Discos. In addition, the Gencos say that the governing contract agreements reached with BPE prior to the takeover of the power industry on November 1, 2013, commonly called industry agreements which include the Power Purchase Agreement (PPA), the Gas SupplyAgreement (GSA), the Gas Transportation Agreement (GTA) and the Grid connection agreement have not been activated. Since the new owners took over in 2013, the Gencos posit that none of the agreements have been activated, a situation they say, has resulted in the non-payment for power generated and supplied to the national grid, as there has not been any effective power purchase agreement since 2013. On the other hand, the Discos maintain that the NERC’s target to TCN to support the evacuation of power by about 50 per cent between 2016 and 2019 and thereafter has been met with failure, since the company has performed by just about 13 per cent. “Since 2015, there has been no significant improvementintheenergygeneratedandwheeledby TCN that is finally received by Discos. It continues low and flat, only affected by a seasonal effect between the dry and rainy seasons,” the Discos stated. In the same manner, the Discos are routinely blamedforrejectingelectricityload,adevelopment that has led to what is now termed “stranded power”, even though Nigerians live almost in perpetual darkness. Celebrating Mediocrity It is now commonplace to see the ministry of power and the agencies under it clink glasses for what they term improvements, even though it’s rarely experienced in Nigerian homes. Last week, TCN gleefully celebrated what it said was the successful transmission of an all-time peak of 5,584.40MW. The TCN in a statement by its General Manager, Public Affairs, Mrs. Ndidi Mbah, explained that the “feat was” recorded by the power sector on Thursday, January 7th 2021, at 21:15hrs. “This is 24 hours after the previous peak of 5,552.80MWwasrecordedonWednesdayJanuary 6th, 2021 at 20:15hrs that was equally transmitted. This latest all-time peak transmitted, surpasses the last peak generation of 5,552.80MW transmitted by TCN by 31.60MW. “The management of TCN assures the general public that it will continue to work hard to ensure efficient transmission of power generated on the nation’s electricity grid,” the transmission
Nnaji
Fashola
Mamman
company stated. Even the Minister of Power, Mr. Sale Mamman, was ecstatic about the news, describing it as “impressive”. Tagging a 5,5840mw power transmission as “impressive” to many Nigerians, was the height of the celebration of mediocrity. That in 2021, a country of over 200 million people, sector leaders would be celebrating just over 5,000mw as an achievement when Brazil with almost the same population and conditions as Nigeria’s generates 150,000MW, according to the International Energy Agency (EIA), beats all rational imaginations. Hydroelectricity makes up the bulk of Brazil’s generating capacity, with the remainder provided by fossil fuel sources, biomass (12 GW), and small amounts of wind and nuclear. Nigeria has all these in abundance. Additionally, Indonesia’s installed capacity as of 2018 stood at 62,589MW, South Africa, with a population of approximately 52 million produces 32,000MW.Andyetnoneofthesenationsisresting ontheiroars,notevenGhanaNigeria’sneighbours with far less resources. With roughly two years to go for the current administration, many believe that rather than celebrating a miserly 5000mw, the minister, rarely seen, rarely heard, should devote more time in communicating the ministry’s achievements if any, given the misalignment in the sector and the unusual quiet that has followed the Siemens deal, since the agreement signing ceremony in July last year.
(partialandtotal)onthetransmissiongridbetween 2010 and 2020, infrastructure remains weak. For distribution, data shows that a substantial percentage of technical losses before electricity reaches the final consumer is attributable to them. Whatever the situation, the reality today is that many Nigerians do not have access to power supply and when they do it’s not reliable. The World Bank estimated as of two years ago that the country would need to connect between 500,000 to 800,000 new households to electricity sources every year between then and 2030 to be able to achieve her targets of universal access to electricity for its citizens. According to the bank, Nigeria’s inability to provide electricity to about 80 million of its people meant that it is the second country after India in the world with more of her population without electricity and the first in Sub-Saharan Africa. “With about 80 million people lacking access to grid electricity, Nigeria has the largest access deficit in Sub-Saharan Africa and the second largest in the world, after India,” the bank noted in 2018.
“We talk about decentralisation, we probably need to be thinking about it on the national grid. But one outcome is that there will be significant improvement in some grids and grid loss in some. “Again, the problem is political, we get our power based on sharing formula. Not based on use. If have the usage formula, Lagos zone will get much more power than Yola that is quite distant and removed from source of supply. “Primarily, regionalisation will improve our supply,improvelocalcompetencies,givesomegap for some people to catch up and grow. Technology is changing, moving from large scale to modular capacityintermsofembeddedgeneration,isolated distributionnetwork,convergenceintransmission network. “We need to rethink the grid. But the primary problem is elementary, managerial, capacity and investment and how much goes into the sector problem instead of financing the bureaucracy that’s wasteful and incompetent. “Lookattheleadershipstructureoftheelectricity market today, from minister downwards. Let’s have some incremental improvement before disruptive things. Regionalising the grid could be a way to take the large scale inefficiency away from the system,” he stated. He described the Siemens deal as a good move, but lamented that NERC was sidelined throughout the process, making it fail to exercise some prudency checks in it the execution. Amadi stressed that Nigeria should have commercialised, rather than privatise the power sector,likeEgyptdid,arguingthatthesectorcannot move from N20 to N40 without commensurate improvement in quality of service. “The Discos have failed in their duty because they are not able to improve services. They are not engaging their customers. We need a lot of communication,” he noted. He maintained that those, who invested in the sector, deployed short term or ‘hot funds’ into an industry that clearly requires long-term returns, noting that they are now desperate to make quick returns on their investment because of the nature of the monies put into the business. But NERC believes that pricing is one major issue that has to be dealt with in the sector before any meaningful progress can be made, stating that with good pricing, investments will naturally flow into the sector. “This is because investment follows certainty. Nobody will invest where he is going to make a loss. But where you can do your projections and see that there is a return, people will invest. “It is just pure economics and it is the same economics that applies to every business... the issue is that price drives investment. And when you attain the appropriate level of investments and achieve the economies of scale, price starts to come down. And you see in every sector this happens; it happened in telecoms,” Dafe Akpeneye, NERC’s Commissioner, Legal, Monitoring and Compliance, stated. Nigerians do not care how electricity supply gets to their homes, all they need is to be able to power on their bulbs and appliances. And all they want is to do their businesses and not spend 40 per cent on generating power on their own. That’s not too much to ask in 2021.
Facing Unpleasant Reality The Nigerian power sector is in crisis and it has been so for decades. Industry data suggests that Nigeria has just about 13,000 MW of installed generation capacity, being largely dependent on hydropowerandfossil(gas)thermalpowersources of 12.5 per cent and 87.5 per cent respectively. However, only 3,500 MW to 5,000 MW is typically available for onward transmission to the final consumer, with the extensive losses attributable to weak infrastructure and a very high occurrence of significant technical and non-technical issues through the power supply value chain. Nigeria has one of the lowest annual consumption of electricity per capita, estimated at less than 150 kWh, giving rise to the use of alternatives like standby generators, with capacity of this captive power source estimated to be as high as 14-20 GW. Theelectricitydemandinthecountry,continues to increase, while supply is dismally constant. Although, the over 20 grid-connected generating plants in Nigeria is approximately 13,000MW, many plants suffer from recurrent challenges such as maintenance and repair requirements, trips, faults, and leakages, that make them unavailable for evacuation to the national grid. The transmission segment of the electricity value chain remains fully government owned with the capacity to wheel just about 5,300MW of power or thereabout. But even at that, due to generation constraints, less than this capacity gets wheeled. Underinvestment in building new infrastructure and lack of appropriate maintenance of the current infrastructure has constrained the transmission network expansion. Although the transmission network has recorded a decline in system collapse incidents
Any Way out? Aformer Chairman of NERC, Dr. SamAmadi, has argued that part of the ways to solve the current problems in the Nigerian Electricity Supply Industry (NESI) is to break the power grid into regions Amadi explained that the development will bring about competition among the grid operators, who will thrive to outdo one another, but admitted that the problems in the sector were multi-faceted, including managerial and political issues, misalignments as well as investment challenges. He said: “There is acute and comprehensive shortages and there are issues of geography like in the north where you have sparsely populated and dispersed areas which require long lines of network. “Ifthatisnotlooped,thentotallosseswillbevery high. We have shortage of quality of transmission network, shortage of generation, meaning that we don’t even have capacity. Some 4,000 mw, potentially available and sometimes 2,300mw. “We have distribution network problems. There’s low tolerance level in the sense that if something snaps, something quickly takes it up. There’s also poor managerial capability and maintenance culture which means that we have not done any maintenance, oversight etc. for a long time. They are old problems. “Butinsolvingthem,wethinkthere’sdisruptive, disjointed approach in terms of reforms, (they) privatise this, privatise that instead of a gradual incremental managerial improvement on the managerial side and investment and project management will get underway. “If you privatise the grid, like you have with the distribution companies, where you have scarcity, a market that’s almost non-existent, then you can be sure who comes to the market and have the managerial and financial capacity to make the kind of needed investment.” As part of solving the problems, he said decentralisation could play a positive role, arguing that as it is currently constituted, much of the financing in the sector goes into funding the bureaucracy as represented by the power minister and across the entire strata.
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THISDAY, THE SUNDAY NEWSPAPER ˾ Ϳ˜ 2021
BUSINESS/ECONOMY
Charles Robertson
Bismarck Rewane
Muda Yusuf
2021: What will be the Fate of Naira? As the deadlier variant of the coronavirus signals the emergence of the second wave of the COVID-19 pandemic, the world’s oil markets brace for a harsh year 2021; with Europe slipping into another COVID-19-driven lockdown.From all indication, this dreadful wave is already showing signs of causing another shutdown of the global economy, which brought oil prices to its knees early last year. Consequently, a prolonged reign of this pandemic could lead to the worst fears of the Organisation of the Petroleum Exporting Countries (OPEC) - oil glut, in 2021. With an over 70per cent of its forex dependency on oil, this does not look good for liquidity in the foreign exchange market in Nigeria, especially as the country is losing its European oil market share to the US. Happening so early in the year, it has become imperative; to nervously take a peep into a crystal glass, to examine the level of the pressure the naira will be subjected to, in 2021. Chris Paul reports
N
aira, the national currency, was the focus of a discussion oganised by Arbiterz Media Company, in collaboration with Cordros Capital recently. Titled: The Naira in 2021: Optimizing Choices for Growth, and moderated by CNBC Africa Anchor, Wole Famurewa, the zoom conference featured Global Chief Economist, Renaissance Capital, Charles Robertson; Financial Derivatives Company, Bismarck Rewane; Head, SSA Equity Sales, Stanbic IBTC, Akinbamidele Akintola; DG, LCCI, Muda Yusuf; Lead Wealth Advisor, Artios Capital, Abiola Adekoya; President, Association of Bureau De Change Operators of Nigeria (ABCON), Aminu Gwadabe. Speaking to the theme of the programme and the role population plays in the management of liquidity, the keynote speaker, Charles Rob-
ertson, said, the underlying problem Nigeria has, is “lack of savings”. The more children you have, the fewer saving you have. Lower fertility countries such as Morocco, where it is an average of two kids per woman have lots of savings, big banking systems, and low interest rates. However, high fertility countries such as Nigeria, Congo, Angola and Burundi, are where you have high interest rates, not too much birth controls and many unorthodox policies.” Robertson emphasised that a major solution was to have cheap currency, disclosing that this was the measure the Asian countries applied in the 70s, 80s and 90s, when they had high fertility rates. According to the Renaissance Capital Global Economist, “higher fertility countries such as Kenya, Angola had double digit interest rates, while lower fertility countries in Africa or Asia, had low interest rates.” But for him, even though he be-
lieves the naira is overvalued, he does not see the Central Bank of Nigeria (CBN) allowing the naira to slide down to an exchange rate of N500 to $1; “Or, to N600, that Angola of Kazakhstan would imply…” Robertson predicted that the naira may end up at N429 per dollar by year end. Bismarck Rewane said Nigeria’s broad macro-economic thrust from 2017-2019 was based on what he called economic patriotism, import substitution and defending the naira “on the belief that inflation was a function of exchange rate passage way to applied disruption rather than all the factors put together.” “Wrongfully, they have now made it a binary choice; you either do this or you do that. Quite frankly, there are many contributory factors. I believe policy making mentality in Nigeria is changing towards the one of being compliant, one of not being a maverick country and getting away from the idea that capitalism and economic
reform are agenda of exploitation of the Nigerian economy,” he added. Rewane was confident that Nigeria would be more compliant and accepting economic reforms agenda from relevant global economic bodies. Examples of that included the removal of fuel subsidies last year. He sees Nigeria benefitting from the policy decisions “we made in 2019/2020 in terms of subsidy removals, subsidy reduction, in terms of cost reflective tariffs. In terms of accepting that investment multiplier is key to growth rather than any other strategy at this time.” Indeed, Rewane, who said a strong naira might not necessarily mean a strong economy, however, believe a strong economy will necessarily lead to a strong naira. He, therefore, predicted that, “we may see a more market-determined naira.” Unlike Robertson’s forecast for the Nigerian currency, the FDC CEO sees the naira landing on N409/410
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THISDAY, THE SUNDAY NEWSPAPER ˾ Ϳ˜ 2021
BUSINESS/ECONOMY 2021: What will be the Fate of Naira? to $1. But with the speculative or fear premium based on the fact that policy could change, he calculated that “if you add that 20per cent to N410, you may then arrive at N470-N480…” According to him on today’s fair value based on demand and supply, the naira could be going for N410. However, unpredictable policies could well push the battered naira to the realm of N470 to N480. The economic expert warned that should government continue in the line of unpredictability in policy making, the naira will remain of the N470-480. But if the government does not waiver in accepting and sustaining the reforms, N409/410, he said, “will be the sweet zone for the naira.” There is also the adjustment of rate and the issue of rates-determination. What is being required today is that you adjust the rate to cover the gap. Perhaps that was the concept that was applied to arrive at N410 from N390. But then, the managers of the economy have to accept the flexibility of the rate, which moves upwards or downwards and once that Praxis is accepted, according to Rewane. “Once market knows that the price of petrol and Diesel can move then can now adjust the rate to their own mentality, knowing that the exchange rate is not fixed,” he said. Concluding his opening thoughts on the topic, he said government must accept the flexibility of the rate and “stop rationing foreign exchange … “ In other words, the CBN should quit flip-flopping on the rates and management of forex. Akintola aligned with Robertson in the area of the exchange rate. “I don’t believe, the government will move it beyond N420 or N430.” For him, the rationale behind such policy move could include trying to manage the possibility of naira devaluation of leading higher price of petrol and also considering the issues the country has been having recently with electricity tariff. “The implication of massive devaluation could lead to a fiscal backlash for the government,” he said. The Stanbic IBTC Equity Salesman was not optimistic that government would want to move the exchange rate beyond the N420-N430 mark. According to him, Nigeria’s economy would enter the Egyptian mode, “where the flows that come into the equity market are more driven by locals as opposed to international players.” This, he pointed out, is because “we need to believe in our own market before the world believes in our market.” He believed this year may likely not see any significant equity inflows until there are some clarities in the capital atmosphere of the economy. On this score, Akintola gets it because a critical examination of the Nigerian Nollywood concept would reveal a situation, whereby Nigerians embraced this latter day local movie industry with all its flaws and that gave the business the bounce that played onto the global stage for it to be competing with the likes of Hollywood and Bollywood as the world’s third largest movie industry. Relative to Akintola’s thoughts concerning the Nigerian economy, Rewane’s technocratic position is immediately apocalyptic to the fragile socio-economic fabric of the nation at this point in her history. With insecurity, hunger and poverty ravaging the Nigerian people, it is doubtful that they will take kindly to an unhinged upward movement of the price of petrol and electricity tariffs. When Rewane said the IMF, World Bank, Paris Club and the rest of the international finance bodies will become more assertive in ensuring Nigeria apply the reforms they are forcing down the throat of the nation’s economy, it gives an impression that
Aminu Gwadabe
Akinbamidele Akintola
Abiola Adekoya
Godwin Emefiele
Rewane believes these bodies have the medicine that will give Nigeria’s economy the good health it requires to make the life of Nigerians better. In all his talk about succeeding in getting government to remove subsidy and reduce subsidy on Electricity tariff, Rewane did not mention the need for the government to get the refineries working or apply substantial energy to ensure adequate, efficient and effective in-country refining capacity. On the capital market side and considering that the market closed at about 50 per cent in 2020, Adekoya said, players were beginning to express concern that “our prices rally was a bit too hard and they don’t want to get caught up at the height of the market.” “So, they are more cautious than before as they look at something relatively more attractive that they can invest their money,” he added. That is why the mood in the market now has taken the posture of “watch and see at the moment.” Concerning the currency, investors are now tilting towards wealth preservation, according to Adekoya, as their thinking has shifted to “putting some of their assets, that are in naira, into foreign currency; hedge a bit better and diversify their portfolios a bit more. She further stated that last year witnessed a huge number of local investors eyeing foreign market as reflected in the countless number of calls she got last year “ asking me what can I do? I want to buy foreign stocks, how can I dip my toes in…” Some of Adekoya’s clients are heavy on property with not as much dollar weight as she would have wanted,
but their naira assets ring in the range of 60 per cent and above; and their cash holding was quite significant “about 30 per cent or more. Not a lot of them have any significant dollar asset because for them, property has always been a good matrix for preserving their wealth.” But she believes a lot of them are beginning to question it and looking at the type of properties they have; many of them do not have rental properties and that has now become the direction they are looking at, currently. Adekoya emphasised that “short term rentals is what they are looking at now as long-term rentals are no longer as profitable as they used to be in the past. So, a lot of them are looking at short-term rentals since they bring a lot more yield in certain areas.” Baring his thoughts on the reason why the market rallied at 50 per cent in 2020, Akintola said, “it was not because people woke up and suddenly became Nigeria Equity crazy. It was a case of we had so much cash and there was nowhere to put it.” On the morning of the programme when he found himself checking the market performance last year, Akintola found that as at September 20, 2020, only about 5 per cent of a certain part of the market was doing great, while an all-time high, would be as high as 12per cent. “However, when you look at the market with array of stocks, I think there are probably ten investable names. Names I will be personally excited to put my portfolio; so, I feel there is probably some sort of latent money in the background that can potentially chase equity,” he said. President, Association of Bureau
De Change Operators of Nigeria (ABCON), Aminu Gwadabe, affirmed that the naira has been facing “a war of attrition.” He is not happy that the foreign exchange inflow his association had anxiously awaited may not be forthcoming this year. For Gwadabe, a fixed exchange rate regime always provides unscrupulous people to divert forex “the official way to take this currency into the official market.” Most of the forex transactions in the market are ‘dry transactions’ as foreign currencies are ferreted out of the Nigerian markets to foreign countries. According to the ABCON President, between the official and parallel markets, currency valuation in Egyptian currency is about 16per cent, while Ghana’s ranges between 26per cent and 30per cent. His worry is government’s subsidy on inflows. A situation where over $100 billion would leave the country with little or no string puts pressure on the forex market in the country. And that is why the ABCON President would prefer a policy that will ensure forex is not allowed to flow out of the country just like that. In other words, Gwadabe is saying that instead of allowing you to take your forex out of the economy just like that, you would have to be mandated to take it out through export of Nigerian goods which you would sell in your country or wherever you can to make your money. Speaking on how businesses will be navigating 2021 and his view on the state of the naira, the Director General of the Lagos Chamber of Commerce and Industry (LCCI), Muda Yusuf, said the business community in Nigeria face two major challenges as far as the currency situation is concerned. “First is the issue of the depreciation of the currency. You know how import-dependent the economy is; ranging from the manufacturing to the service sector to the consumer and so forth are highly import-dependent,” he said. And so, any time these stakeholders experience a sharp depreciation in the currency, it causes lots of shocks in the industry, spiking cost of production, operations. According to the LCCI DG, “when you are in a market where purchasing power is also weak, you are forced to transfer this cost.” This unfortunate situation affects profit margins and ultimately impacts the sustainability of businesses. It is a major, but inevitable challenge that is made worse by the fact that businesses do not have much control, in terms of the currency and international pricing. Liquidity crisis in the foreign exchange market is the other daunting challenge businesses face in the country, which, according to Yusuf, is so bad. “When you make a major demand for forex, either to import equipment or to import raw materials, and you are given 10per cent or 20per cent of what you have requested, what are you going to do with that?!” For the DG, it has deteriorated to the point where, the companies do not mind paying any amount just to access the import component of their operations, “but they just can’t get it because of the liquidity crisis in the foreign exchange market.” The LCCI DG’s illustrative view of the state of the liquidity crisis the Nigerian economy faces, is a frightening prediction of what the turbulence that will hit the liquidity market and unrelenting clobbering the naira will be treated to in the days and weeks ahead. In other words, it is not about whether the nation’s liquidity market will be out of the woods this year; it is more about praying that it is not buried with the woods, by a pandemic that is scourging everything and everyone in its way.
THISDAY, THE SUNDAY NEWSPAPER ˾ Ϳ˜ 2021
21
BUSINESS/FOCUS
OMSL: As Tunde Ayeni, Capt. Hosa Okunbo Square off Former Chairman of the defunct Skye Bank, Mr. Tunde Ayeni petitions the Economic and Financial Crimes Commission, EFCC, alleging ‘company hijack’ and various financial crimes against his erstwhile buddy and business partner, OMSL Chairman Captain Idahosa Okunbo. Louis Achi examines the unfolding narratives and whether Ayeni is attempting an astute business coup or embarked on a flight of fancy?
A
boardroom coup is a sudden and often unexpected takeover or transfer of power of an organisation or company. The coup is usually performed by an individualorasmallgroup usually from within the corporation in order to seize power. In the cloak and dagger manoeuvres of the corporate world, such Machiavellian gaming is not strange. Against this backdrop, the former Chairman of the defunct Skye Bank (now Polaris Bank), Mr. Tunde Ayeni’s carefully crafted petition to the Economic and Financial Crimes Commission, EFCC, against his erstwhile friend and business partner, the hugely influential OMSL Chairman Captain Idahosa Okunbo, alleging ‘company hijack’ and other financial underhand transactions suggests a boardroom coup. What are the facts? In a petition dated December 7, Femi Falana SAN, counsel to Ayeni, asked the EFCC to investigate “gross mismanagement and criminal diversion of company funds” by Capt. Idahosa Okunbo, his business partner with whom he said hefoundedOceanMarineSolutionsLimited.Ayeni alleged that Okunbo, whom he claimed had been his partner since 2003, misled him and took over control of the company while he was undergoing a court trial, which he said had distracted him. ThepetitionersaidheandOkunbo(morefondly addressed as Capt. Hosa) invested in the Ibadan Electricity Distribution Company (IBEDC), but his partner moved the company’s account to another bank and abandoned repayment of a $100 million loan used to fund the acquisition of the power firm. Further according to Ayeni’s counsel, “Subsequently, Capt. Hosa Okunbo told our client that all accounts of the businesses that he was involved in for which he was a signatory, was being rumoured to be closed because of the trial our client was facing, and it was important for him to step aside from the Ocean Marine and its subsidiaries’ structure and hand over to him, so thathecouldprotecttheincomesourcesasthatwas the only source of income with which to fund the faithful repayment of the gross liabilities, which were well over $150 million owed to a consortium of banks led by Polaris Bank over the acquisition of the IBEDC and the YEDC DisCos as at the time. “Our client agreed to the advice and did not doubtCapt.HosaOkunbo’ssincerityandintention to act in good faith, based on the trust our client had in him as they had both been working and partnering together since July 2003. “At no point was an actual sale of his interest in Ocean Marine Solutions Ltd or any of its subsidiaries or affiliates ever discussed, but Capt. Hosa Okunbo is trying to use the gentlemen’s arrangement to forcefully take over his holdings of the Company whose monthly income is about $9 million. “However, since the suggestion was effected, our client does not receive emails and briefings from the group in respect of the businesses and finances any longer, but our client was getting the monthly allowance they had agreed to be paying themselves and his wife’s monthly allowance which was $350,000 and about N12.5 million for our client and $25,000 for his wife. “Our client has since discovered a lot of stealing and diversion, as well as gross mismanagement of large sums of money belonging to the Company. When our client confronted Capt Hosa Okunbo, he had no defence whatsoever but claimed that he had bought our client out of the Company and that he cannot complain.” Ayeni’s petitioner alleged that sometime in
Ayeni
Idahosa
2007, himself, Okunbo, JoeAikhomu, represented by his father, Admiral Augustus Aikhomu, and Gareth Dooley came together to form a company called Ocean Marine Security Limited. He said the company later changed its name to Ocean Marine Solutions Limited. According to him, Okunbo holds 46 per cent shares in the company, he, Ayeni, holds 35 per cent, Dooley holds 14 per cent, while Aikhomu held five per cent.Ayeni said himself and Okunbo acquiredAikhomu’s shares after his demise.After his death, Aikhomu, who was the founding chairman, was replaced by Okunbo as chairman. Ayeni further stated that the company incorporated four other subsidiaries and invested in Ibadan Electricity Distribution Company as well as Yola Electricity Distribution Company. He also accused his estranged partner of refusing to pay back $2 million he took from the company to fund “the current Liberian president’s election”. But ifAyeni thought his moves had impressed his erstwhile partner whose affableness and innate humility hide inner steel, it was a major miscalculation. Deploying compelling facts and comprehensive documentation, Capt. Hosa reputed to value integrity highly simply tore Ayeni’s accusatory homily to shreds.
and the general public from been misled by the false stories hereby states as follows: r 5IBU %S 0MBUVOEF +PIO "ZFOJ JT OP MPOHFS a Director of OMS and any of its Associated Companies having resigned from OMS since August 2018. r5IBU %S 0MBUVOEF +PIO "ZFOJ JT OP MPOHFS B shareholderofOMSanditsAssociatedCompanies having sold and transferred all his shares and intereststoWellsPropertyDevelopmentCompany Limited for valuable consideration since 2018. r 5IBU %S 0MBUVOEF +PIO "ZFOJ IBT OPU CFFO involved and connected in the management of OMS since 2018 when he resigned from the Board and sold his shares. r5IBU %S 0MBUVOEF +PIO "ZFOJ CFDBNF BXBSF JO September, 2020 that the Chairman of OMS Capt. (Dr.) Idahosa Wells Okunbo had health issues and was undergoing treatment in London and has since that time started making false claims that he is still a part of OMS. r5IBU UIF #PBSE PG 0.4 IBT JNQMJDJU BOE unshaken confidence in all the steps taken by Capt. (Dr.) Idahosa Wells Okunbo in managing the affairs of the company and the lofty heights to which he has taken the company. r 5IF #PBSE DPNNFOET BOE BQQSFDJBUFT $BQU (Dr.) Idahosa Wells Okunbo for his selfless and personal efforts in managing the affairs of the company and the use of his personal resources in meeting operational financial shortfall in the company. r 5IF DPNQBOZ TUBUFT VOFRVJWPDBMMZ UIBU JUT accounts are in good and correct order and its funds are intact and not missing, misappropriated or otherwise mismanaged. r 5IF #PBSE IBT QBTTFE B WPUF PG DPOàEFODF on Capt. (Dr.) Idahosa Okunbo. r %S 0MBUVOEF +PIO "ZFOJ JT B NFEEMFTPNF interloper who is seeking to blackmail Capt. (Dr.) Idahosa Wells Okunbo at this time of his ill-health for financial benefit. r%S 0MBUVOEF +PIO "ZFOJ IBT OP JOUFSFTU whatsoever in OMS and its affairs and is hereby advised to steer clear from OMS and itsAssociated Companies.”
Capt Hosa Fights Back… Reacting swiftly to the multitude of allegations against Okunbo and OMSL, through a formal press statement dated December 17, the Management of OMSL specifically stated that Ayeni was no longer a part of either OMSL or its associated companies as he resigned since in 2018 after selling all his shares. “The attention of the Board of Ocean Marine Solutions Limited (OMSL) has been drawn to several petitions written to various Government Agencies and widely circulated online, written, authored and orchestrated by Dr. Olatunde JohnAyeni, a former Director and shareholder of OMS,” the statement read in part. There is more. The statement signed by RearAdmiral Joseph Omozuya Aikhomu (Rtd.) (Director), Rear Admiral Aminu Oyone Ikioda (Rtd.) (Director), Mr. Oyelakun Oyekunle (Director), Mr. Garth Dooley (Shareholder) and Mrs. Mnena Bara-Hart (Company Secretary) emphatically described Ayeni as “a meddlesome interloper seeking to blackmail Okunbo at this time of his ill-heath for financial benefit.” In their words: “The Board of Directors of OMS with a view to setting the records straight and to prevent Government Agencies, Clients of OMS
The Back Story… Up tillAugust 2018,Ayeni and his wife,Abiola, held 30,000,000 ordinary shares of OMSL and both sat on the board of the company. But, in August 2018, the Ayenis, using an investment management firm, Prime Union Investment Limited, divested their holdings from OMSL through a board resolution. The board of Prime
UnionInvestmentLimited,solelyownedbyAyeni and his wife, also resolved at an extraordinary meeting held on August 15th, 2018, to sell the 30,000,000 ordinary shares of OMSL to Wells Property Development Company Limited for N2,000,000,000.00 (Two Billion Naira) only. Consequently, the board of OMSL at an extraordinary meeting held in Port Harcourt resolved among others that; ” Dr, Olatunde John Ayeni has agreed to sell his 5,000,000 Ordinary shares each in Ocean Marine Solutions Limited to Wells PropertyDevelopmentCompanyLimited.“Prime Union Investment Limited has agreed to sell its 30,000,000 Ordinary shares of N1 each in Ocean Marine Solutions Limited to Wells Property Development Company Limited. “Wells Property Development Company Limited has agreed to purchase the 35,000,000 Ordinary shares from both Dr, Olatunde John Ayeni and Prime Union Investment Limited including the shares held by Dr, Olatunde John Ayeni in other associated companies which consists of 37,200,000 Ordinary Shares held in PPPFM, 175,000,000 0rdmary Shares in GYRO (including the 50,000,000 Ordinary shares held by Mrs.Ayeni) for the total sum of N2,000,000,000 (two billion Naira) only. “Following the full and final payment by Wells Property Development Company Limited for the shares, both Dr. Olatunde John Ayeni and Prime Union Investment Limited hereby transfer the total 35,000,000 Ordinary shares to Wells Property Development Company Limited devoid of any encumbrance. “The company hereby approves the transfer of 5,000,000 Ordinary Shares held by Dr. Olatunde JohnAyeni to Wells Property Development Company Limited. The Company hereby approves the transfer of 30,000,000 Ordinary Shares held by Prime Union Investment Limited to Wells Property Development Company Limited.” In accordance with the resolutions made by both boards, Capt. Okunbo, on 26th November 2018, transferred the sum of N1,000,000,000 (one billion Naira) through his bank account in Central Area branch in Abuja, to Olutoyl Estate Development and Services Limited, an account owned by Ayeni. The balance, it was gathered, was fully paid and in March 2019, the Corporate Affairs Commission (CAC) in its FORM CAC 2Aapproved the transfer of 73,150,000 ordinary shares of OMSL to Wells Property Development Company Limited. However, a new dimension entered the fray when EFCC investigating the activities ofAyeni’s stewardship as the managing director of the defunct Skye Bank Plc discovered that he withdrew the sum of N29.5 billion (twenty-nine billion, five hundred million Naira) cash from the bank. According to the EFCC report, Ayeni owned up and promised to return the fund but later alleged that he invested the said money in the shares of OMSLand its subsidiaries. On his claim, followed by a petition from the office of the Vice President of the Federal Republic of Nigeria, the EFCC then invited Capt. Okunbo and OMSL to clarify the issue. After a thorough investigation, the EFCC, in a letter signed by the Director of Operations, Mohammed Umar Abba on behalf of the Ag. Chairman of the Commission exonerated Capt. Okunbo and OMSL. The letter, dated 25th June 2019 and titled Re: Investigations Activities, (EFCC/EC/GC/31/2538) read: “We wish to state that in June 2017, a petition regarding infractions by the previous Board and Management of Skye Bank was forwarded from the Office of the Vice-President, Federal Republic of Nigeria.
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THISDAY, THE SUNDAY NEWSPAPER ˾ Ϳ˜ 2021
BUSINESS/ ECONOMY
Buhari
Ahmed
2021 Budget, Economic Recovery and Fiscal Sustainability The early passage of 2021 Budget, which for the second consecutive year, effectively returns the country to the January-December budget cycle is a means to an end and not an end itself. The main challenge is how to catalyse economic recovery efforts, and budget execution to significantly contribute towards achieving fiscal sustainability as well as macro-fiscal and sectoral objectives. Ndubuisi Francis writes
I
t is an unassailable fact that Nigeria is buffeted by a deepening macroeconomic challenges, a worsening social and fiscal order. While the economic challenges grow in leaps and bounds, the resources to tackle them appear to be wearing thin. Nigeria’s second quarter 2020 gross domestic product (GDP) contracted by 6.1 per cent although it performed considerably betterthan expected in the third quarter, contracting only by 3.62 per cent, representing an improvement of 2.48 per cent points over the second quarter level. However, as the federal government begins the implementation of the 2021 Budget to return an economy that is again in a recession amid a crippling COVID -19 pandemic, it believes that the early passage of the budget will significantly contribute towards achieving fiscal sustainability as well as macro-fiscal and sectoral objectives. The nation’s economic minders expect significant improvement in macroeconomic performance by the second quarter of 2021 while implementing several measures to overcome very challenging fiscal constraints. How the 2020 Budget Fared The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, who made a virtual presentation of the 2021 Budget disclosed that as at year end 2020, N1.8 trillion had been released for capital expenditure, which represents about 89 per cent of total capital vote for the year. Out of this, up to N118.37 billion was released for COVID-19 capital expenditure. In the same vein, federal government’s retained revenue was N3.94 trillion or 73 per cent of target. FGN’s share of oil revenues was N1.52 trillion (representing 157 per cent performance, over and above the prorated sum in the revised 2020 budget) while non-oil tax revenues totalled N1.28 trillion (79 per cent of revised target). "INFE EJTDMPTFE UIBU r $PNQBOJFT *ODPNF 5BY (CIT)andValueAddedTax(VAT)collectionswere
N673.22 billion and N192.66 billion, representing 82 per cent and 68 per cent respectively of the pro rata revised targets for the period. Customs collections also stood at N410.21 billion (79 per cent of revised target). Other revenues amounted to N993.73 billion, of which Independent revenues accounted for N519.36 billion. On the expenditure side, N9.97 trillion was appropriated (excluding GOEs and project-tied loans), while N10.08 trillion (representing 101 per cent) was spent. Of the expenditure, N3.27 trillion was for debt service, while N3.19 trillion went for personnel cost, including salaries and pensions. Theministerobservedthatrelativetotherevised 2020 budget parameters, the performance of key budget parameters reflected the effects of the COVID-19 pandemic. While the revised budget was predicated on oil benchmark price of $28 per barrel (pb), actual average was $43pb, while 1.79 million barrels per day (mbpd) of the projected oil production 1.8 mbpd was recorded. Exchange rate stood at N379 to a dollar as against budgeted N360/$ while inflation ended up at 14.89 per cent in contrast to the projected 14.13 per cent. The minister noted that despite obvious challenges, budget performance was not disappointing. The 2021 Budget In 2021, oil GDP is projected to rise by 16.23 per cent year -on-year, resulting in about 1.1 percent cent increase in non-oil GDP. Based on this, real GDP is expected to rise by 3.0 per cent in 2021, while nominal GDP is expected to rise from N139,517.5 billion in 2020 to N142,694.4 billion in 2021 and then up to N151,464.4 billion in 2023. Crude oil price benchmark is at US$40 per barrel, $4 below the World Bank’s forecast of US$44pb average crude oil price in 2021 and
Energy Information Administration’s (EIA) projected $48.53 pb average Brent crude oil price in 2021. The minister said the budget was based on crude oil benchmark price of $40 per barrel, with crude oil production expected to increase from 1.8 million barrels in 2020 to 1.86 million barrels in 2021. She observed that although Nigeria has the capacity to produce up to about 2.5 million barrels per day, current production would be limited to 1.7million barrels per day, including 300,000 barrels of condensate, in compliance with the Organisation of Petroleum Exporting Countries (OPEC) quota agreements. Consumptionexpenditurein2021isprojectedto rise from N117.91 trillion in 2020 to N118.89 trillion in 2021, reflecting gradual economic recovery. Inflation is expected to remain above single digit in 2021, given structural issues impacting cost of doing business, including high food distribution cost. The N13.5 trillion budget has an aggregate revenue of N7.99 trillion (36.9 per cent higher than the 2020 projection of N5.84 trillion). In a bid to promote fiscal transparency, accountability and comprehensiveness, the budgets of 60 GOEs are integrated in the FGN’s 2021 Budget proposal. In aggregate, 30 per cent of projected revenues is to come from oil-related sources while 70 per cent is to be earned from non-oil sources.Ahmed regretted that, overall, the size of the budget has been constrained by relatively low revenues. An overview of the expenditure framework shows a projected aggregate expenditure (inclusive of GOEs and project-tied loans) of N13.59 trillion, which is 25.7 per cent higher than that of revised 2020 Budget of N10.8 trillion. Recurrent (non-debt) spending, estimated to amount to N5.99 trillion, is 44.1 per cent of total expenditure, and 13.3 per cent higher than the 2020 revised estimates (mainly reflecting increases in salaries and pensions).
The aggregate capital expenditure of N4.37 trillion is 32.2 per cent of total expenditure; and 62.9 per cent higher than the 2020 revised Budget (including the capital component of Statutory Transfers, GOEs capital and project-tied loans expenditures). At N3.32 trillion, debt service is 24.5 per cent of total expenditure, and 12.6 per cent higher than 2020 revised Budget. With GDP at N142.69 trillion, from N139.52 trillion in 2020, the minister said the deficit GDP, excluding GOEs and project-tied loans, was 3.43 per cent against 3.30 per cent in the previous year. Deficit GDP, including GOEs and project-tied loans is about 3.93 per cent, compared to 3.57 percent last year. Total revenue, including from GOEs, is about N7.99 trillion, about 36.9 percent higher than the 2020 projection of N5.84 trillion. The minister said aggregate projected revenues would be 30 percent from oil-related sources while 70% would come from non-oil sources, in line with the government decision to de-emphasise reliance on oil. expected to be available. Total federal government budget, excluding GOEs and project-tied loans was given as N11.53trillion, while total Federal Budget, including GOEs and project tied loans is about N13.59trillion; Total amount available for the budget approved by the National Assembly, excluding GOEs revenues, stands at about N6.64 trillion This amount comprises share of oil revenue (N2.01 trillion), share of dividend from the Nigeria LNG (N208.54 billion), Share of minerals and mining revenue (N2.65 billion). Share of non-oil revenue of N1.49 trillion is made up of share of company income tax (N681.7 billion); VAT (N238.43 billion); Nigeria Customs Service (N508.37 billion); share of Federation Accounts levies (N60.51billion). Revenue from government owned enterprises stands at about N2.17trillion, although there was a loss of about N825.02 billion report as a result
THISDAY, THE SUNDAY NEWSPAPER ˾ Ϳ˜ 2021
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BUSINESS/ECONOMY 2021 Budget, Economic Recovery and Fiscal Sustainability a loss of about N825.02 billion report as a result of their inability to return to the government operating surplus from 80 percent captured in independent revenue. During the year, Independent revenues is expected to be about N1.06 trillion; transfers from special levies account (N300 billion); signature bonus/renewals/early renewals oil companies operating in the country and new oil licenses to be issued during the year (N677.02 billion); domestic recoveries, assets, fines (N32.68 billion); Stamp duty (N500billion), and grants and donor funding (N354.9billion). Financing the N5.6tn Budget Deficit The total deficit in the 2021 Budget which stands at N5.6 trillion is to be financed mainly from domestic and foreign borrowings, loans and proceeds from the privatisation of public assets. Giving the details of deficit financing windows, the Minister of Finance, Budget and National Planning, Zainab Ahmed, said the government is to borrow about N2.34 trillion apiece from domestic and foreign sources. Another N709.69 billion is expected from multilateral and bilateral loan drawdowns while N205.15 billion is to be sourced from privatisation proceeds. According toAhmed, the Government-owned Enterprises and project-tied loans, represent about 3.93 per cent of the nation’s gross domestic product (GDP). Instructively, while the 3.93 per cent deficit in the 2021 Budget is in excess of the 3 per cent threshold prescribed by the Fiscal Responsibility Act (FRA), 2007, the minister said the law allows the government to overshoot the recommended levelindifficultsituations,likecurrentpressureson theeconomyasaresultoftheimpactofCOVID-19. Items in the budget with fiscal deficits, excluding government-owned enterprises (GOES and project-tied loans account for about N4.89trillion, from N4.61 trillion in the revised 2020 budget, while fiscal deficit, including GOEs and projecttied loans, stood at about N5.6trillion, from N4.98 trillion last year. Similarly, capital and project-tied loans expenditures stand at about N3.32 trillion; debt service 24.5 per cent of total expenditure, and 12.6 per cent higher than the 2020 revised budget. Ahmed noted that the N200 billion provision to retire maturing bonds to local contractors/ suppliers is 1.68 per cent of total expenditure, reflecting FGN’s continuing commitment to offset accumulated arrears of contractual obligations dating back over 10 years. The Finance Act 2020 The federal government is making a heavy capital of the FinanceAct 2020 signed into law on theDecember31,2020byPresidentMuhammadu Buhari. The Act supports the ‘2021 Budget of Economic Recovery and Resilience’, and came into effect, with the 2021 Appropriation Act, on the January 1, 2021. The finance minister reckons that the key guiding principle of the Act is to ensure that there is a balance between broader macroeconomic strategies to attract investment, grow the economy, create jobs as well as providing immediate fiscal strategies for accelerated domestic revenue mobilisation, in response to the COVID-19 pandemic and the domestic / global economic downturn. According to her, the Act adopts counter-cyclical fiscal policies in response to the COVID-19 pandemic by providing fiscal relief for taxpayers. With 14 reforms under the Act, the Minister observed that specifically, the law adopts fiscal policies to counter the negative impact COVID-19 pandemic by providing fiscal relief for taxpayers as well as ensure closer coordination of monetary, trade and fiscal policies. The Act consists of over 80 reforms in more than 14 laws, including Capital Gains Tax Act, Cap. C1; Companies Income Tax Act, Cap C21; Personnel Income Tax, Cap C49; Value Added Tax Act, Cap. VI; Nigeria Export Processing ZoneAct, Cap N107; the Oil and Gas Export Free Zone Act, Cap 05, and Industrial Development (Income Tax Relief) Act, Cap. 177. Others are the Stamp Duties Act, Cap S3; Tertiary Education Trust Fund (Establishment) Act No.16, 2011; Federal Inland Revenue Service (Establishment) Act No 13, 2007; Fiscal Responsibility Act No. 31, 2007; Public Procurement Act No.14, 2007; Companies and Allied Matters Act No. 3, 2020 and the Establishment of the Crisis Intervention Fund & Unclaimed Fund Trust Fund. Incentives TheFinanceAct2020providesforcompensation to companies for Capital Gains Tax losses of up to N10 million, while donations to any pandemic or natural disaster relief fund by the federal or any state government are tax deductible subject to a maximum of 10 per cent of assessment profit after deduction of other allowable donations. The Act also allows 50 per cent reduction in minimum tax, from 0.5 percent to 0.25 per cent of gross turnover less investment income, for companies in respect of returns for years of assessments due to a period of two years (between January 1, 2020 and December 31, 2021.
Theunclaimeddividendsandbankbalancesare subject to a Perpetual Trust under management by the Debt Management Office (DMO) until the owner or beneficiaries emerge with evidence. Can the Budget Deliver on Target? Amajor target of the federal government is to enhance economic recovery efforts, and budget execution. It believes that the early passage of the 2021 Budget for implementation from January 1 will significantly contribute towards achieving fiscal sustainability as well as government macro-fiscal and sectoral objectives. According to the finance minister, “We expect significant improvement in macroeconomic performance by the second quarter of 2021, as the federal government is already implementing several measures to overcome our fiscal constraints. “In addition to the Strategic Revenue Growth Initiatives (SRGI), we are leveraging technology and automation, plugging fiscal drainers and ensuring more effective Independent revenue monitoring.” While it looks at revenue generation as the most critical fiscal issue over the medium term in a bid to achieve a significant improvement in macroeconomic performance by the second quarter of 2021, what safeguards are in place to tame the spiraling core inflation that currently stands at 15.75 per cent with food inflation hitting 19.56 per cent?
Akabueze
Oniha
Another notable provision is the exemption from Personal Income Tax to all low income earners of minimum wage or less. It also exempts all micro and small companies earning N25 million or less as annual turnover are from Tertiary Education Tax, same as commercial airline tickets, commercial aircraft spare parts and components. Anyone or group interested in land and buildings; animal feed and hire, rental or lease ofagricultureequipmentforagriculturalpurposes is exempt from 7.5 per cent Value Added Tax at 7.5 (VAT). In addition, any small or medium sized company engaged in primary agricultural production may be granted pioneer status (tax relief) for an initial period of 4 years and an additional two years. For companies operating in the Free Trade Zones, exemption from taxes is subject to compliance with tax filing and returns obligation to the Federal Inland Revenue Service (FIRS) under section 55(1) of the Companies and Income Tax Act. The law equally provided for a reduction from 35 to 5 per cent of import duty on tractors, while mass transit vehicles for transport of more than 10 persons and trucks are to attract a cut from 35 to 10 per cent, while import levy on cars declined from 30 to 5 per cent. Other incentives include the expansion of
goods liable to excise duties to include services in the future as may be prescribed in the law or an order by the President. A new 50 percent Cost-to-Revenue Ratio has been introduced for State-Owned and Government-Owned Enterprise, with the balance of operating surplus paid to the Consolidated Revenue Fund (CRF) of the Federation on a quarterly basis. Reforms on Procurement Perhaps, to block leakages in the legislature and the judiciary, the Finance Act 2020 extended the application of the Public Procurement Act to the National Assembly as well as the Judiciary. This is in addition to the provision for electronic and virtual procurement processes, the mobilisation fee thresholds also increased from 15 to 30 per cent, while the timelines for procurement has been reduced to accelerate the procurement process. The Act also establishes a N500 billion Crisis Intervention Fund, funding by SpecialAccounts and other sources approved by the National Assembly. The Fund also comprises unclaimed dividends in a listed company and unutilised amounts in a dormant bank account outstanding for six years or more.
Analysts’Views The President of the Capital MarketAcademics of Nigeria and former finance commissioner in Imo State, Prof. Uche Uwaleke, said while other parameters underpinning the budget are realistic, those of the exchange rate and GDP are not. In an interview with THISDAY, he said: “Regarding the 2021 budget, I think the assumptions and budget parameters are realistic except for the exchange rate of N379 to the dollar that may not hold due to the on-going process of unifying exchange rates across all forex windows by the CBN, consistent with the IMF prescription. “I also think the real GDPgrowth rate projected at 3% is a little ambitious in view of the impact of COVID-19 on the economy expected to linger for some time especially against the backdrop of a second wave. This is why the recent World Bank report on Nigeria projects a GDP growth rate of 1.1% while Fitch projected 1.3% for the country in 2021. “If estimates by global energy agencies are anything to go by, crude oil price will stay above the budget reference price on the average in 2021. So, $40 per barrel appears realistic. “I wish to note that this year’s budget seems to have set the right priorities with the bulk of capital spending going to works and housing, power and transport and agriculture. For the first time in many years, the capital allocation to education and health are above that of defense. “All things being equal, the timely unveiling of the 2021 budget will facilitate its implementation in the interest of economic recovery.” In the same vein, an economist and founder/ presidential candidate of Abundant Nigeria Renewal Party (ANRP), Mr. Tope Fasua, said the 2021 Budget has no marked departure from the previous ones. He said the fiscal document does not in any way advance the nation’s economic prospects for obvious reasons because it is just a continuation of what the country has always had. He said: “It’s still an envelope budgeting system, meaning that the MDAs are asked to generally think about what they need, meaning that the MDAs are asked to generally think about what they want and work within an envelope and spend whatever that is given to them. The MDAs, of course, find ways around it and at the end of the day, most of their spending is not particularly targeted at improving the lives of the people. So the best budget that talks about benefitforpeoplewhoworkingovernmentmight not necessary be for the larger Nigeria people. “N13.5trillion or thereabout is not particularly much given that we devalued the naira by 20 per cent in the last year or more. What that means is that if you look at it in terms of real value (dollar terms), it is probably smaller than what we had last year. So, it’s not particularly going to advance economic prospect because of what is going on--COVID and the rest. “The best the country wants is to try and achieve stability and generally continue to push the entire economic vehicle along so that we don’t have a major crash. Already, we are in a recession officially. The idea is to ensure it doesn’t become a depression....Though if u ask me, we have every indication that what we are in, is an economic depression. “So I suggest a more radical approach to our budget. I will suggest that a larger amount be budgeted and always allocated for that..And also given that this one we are seeing almost 40 per cent (about N5.6 trillion) is going to be borrowed. ”Aside from that, revenue is about N7 trillion out of N13 trillion is going to be revenue generated and the rest is going to be borrowed. So it is a big problem.”
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THISDAY, THE SUNDAY NEWSPAPER ˾ Ϳ˜ 2020
THE EXECUTIVE
Yusuf
MUDA YUSUF
Lockdown Creates Tension in the Economy But for the COVID-19 pandemic, the long-awaited African Continental Free Trade Area Agreement (AfCFTA) would eventually have become a reality, last year, with trading under the scheme originally scheduled to commence on 1st July 2020. Thus the implementation date was postponed to 1st January 2021. The agreement is expected to create a Continental Free Trade Area (CFTA) for goods and services in Africa, liberalise and facilitate the free movement of people, investments and businesses across the continent. The objective of the Continental Free TradeArea (CFTA) is to integrate, diversify and industrialize African economies of about 1.3 billion people with a combined gross domestic product (GDP) of $3.4 trillion. However, the novel Coronavirus disease (COVID-19) seems to undermine these possibilities through the crippling effects that are causing a global economic crisis. On 11 March 2020, the World Health Organisation (WHO) declared COVID-19 as a pandemic, formally signaling its threat to every country in the world. This threat is not specific and isolated to international health systems, but also developed and developing economies as weak economies in Africa face the severity of the pandemic amidst the measures taken by governments such as border closure, travel bans and lockdowns that directly hinder activities necessary for economic growth and development. At a time when the AfCFTA was in its critical phase of implementation, the total or partial lockdowns enforced by most African countries in the light of global health pandemic (COVID-19) generated socio-economic crisis within the region, that dampened the enthusiasm that followed the continental trade treaty. Chris Paul had a chat with the Director General of the Lagos City Chamber of Commerce and Industry (LCCI), Muda Yusuf, on the impact of the COVID-19 pandemic on businesses and the level of preparedness of Nigeria for the AfCFTA
THISDAY, THE SUNDAY NEWSPAPER ˾ Ϳ˜ 2020
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We Can’t Allow Private Sector to Go Down
H
owareyoumanaging with the pandemic? Well, it has been challenging, at the level of the households,businesses.This is because the current conditions that we are going through in the economy has a lot to do with the pandemic; both its impact at the global and domestic levels. It has affected quite a lot of variables: economic, macro-economic and social variables. So many disruptions have happened on the back of the pandemic. So, it has made the year, really, a very challenging year. We had thought that by now, we would be exiting the pandemic; unfortunately, we are seeing a resurgence of the pandemic… but we will get over it. To what extent have you been able to adapt the core objective of the Chamber to this pandemic period we have found ourselves, especially in the area of policy paradigm? We have been engaging the government. It is not only the Lagos Chamber; other business associations have also been doing same, on the appropriate interventions to cushion the effect of the pandemic. Few months ago, the government came out with the economic sustainability plan. The total value of the content of intervention in that plan was about N2.3 trillion. And the whole idea is to intervene to cushion the impact or the effect of the COVID-19 on the economy and as you know, the economy is already in recession; partly as a result of the Covid 19 pandemic and lately as a contributory factor, result of the EndSARS protest (which happened last quarter of 2020), which also further compounded the problem we were grappling with, with the COVID. That led the government to intervene, particularly at the sectoral level. For instance, the Central Bank came up with a lot of interventions to support the health sector; the SMEs… the ministry of Finance also came up with some interventions in the area of Tax concessions. Even some States came up with some waivers in the area of Tax among others; in order to cushion the effect. Some of these measures were outcomes of the engagement the private sector have had with the government. At the State level, we also had series of engagement with the State government; with the State Governor in particular. This pandemic impacted differentsector,differently.Somesectorsweremore impacted than others. For instance, for those who are in Aviation, it was almost a total shutdown of that sector. Hotel, Hospitality and Tourism were severely impacted. Even the private investors in Education were also severely impacted. So, there were specific intervention programs for some of these sectors. The Lagos State government, for instance, set aside about a billion naira to support the Hospitality industry, just to help them get back on their feet. So, these were outcomes of the engagement the private sector have had with the governments at the Federal and State levels. In order to proactively curb the spread of the second wave, both the Federal and State governments are contemplating returning to the measures applied against the first wave last year.The Lagos State government, as you know,has banned further gatherings at social centers among others.This will affect these same businesses that are barely recovering from last year’s stringent measures against the virus. Do you not think these measures are extreme? I won’t say the measures are extreme. If any measures were extreme, you would be talking about the measures we had the first time, when we had restriction of interstate movements. Quite a lot of sectors were shut down. Remember the kind of tension it created; especially social tension, because, first of all, we are in an economy that is largely informal and secondly, a lot of people depend on daily income for survival. So, when you shut an economy, completely, for even one week, there is a way it creates a lot of tension in the economy because people have challenges in terms of basic survival. So, I believe the government, this time around; have been a bit cautious not to put in place extreme restrictions. The emphasis, for now, is more about compliance to the COVID protocols,restrictinglargegatheringsandassessing the Covid risks generally, while targeting high risk areas vulnerable to Coronavirus. That is the strategy the government is applying; and so, they are looking at large gatherings, religious gatherings, large conferences, the transportation sector, events and so forth. Largely, the government is looking at compliance: use of facemask and non-pharmaceutical interventions among others. Talking about compliance, what is your
Yusuf
assessment of the level of compliance so far and for businesses, what are the risks? The level of compliance within the corporate community is still relatively high. By corporate, I mean very structured businesses; formal sector businesses. But in the informal sector bones, compliance is very weak; there are people who still believe this COVID we are talking about is just ‘an academic exercise. It is not really here in Nigeria’ and so forth. This is because to some people, it is still not visible to them. For them, they still can’t believe until it hits them or someone close to them, they still will not believe. So, the level of compliance, in general, has been very weak and that is why I believe government is looking for better framework for enforcement. There are some legislations or policies that require enforcement for you to get result. It is not enough to depend on moral suasion, persuading people and things like that. In this environment, you need to complement it with enforcement. If you don’t enforce, you may not get result. The government is now scaling up enforcement. The Lagos State government, for instance, is threatening to invoke fines or imprisonment on violators of the Covid protocol. Those measures need to be brought on board to ensure better compliance; because it is in the interest of everybody to ensure we don’t push the government to take extreme position of shutting down the economy entirely; which I do not believe the government is keen to do.As much as is possible, government still want the economy to run, while it manages this Covid challenges. Looking at the LCCI as an institution, how are you responding to the challenges of the pandemic? The way we respond is to engage our over 2,000 members, many of which are small and medium scale enterprises. We engage them to manage the challenges of the moment; on the need to use InformationTechnology(IT)andawholelotofthat is happening. Lots if businesses are now holding their meetings online using zoom, webex and all sorts of platforms through which meetings are being held. We are encouraging businesses to minimize face to face interactions, to minimize holding meetings physically. We are also talking to businesses about strategies on how to survive the moment because these are very difficult times and we have a lot of macro-economic challenges such as foreign exchange, foreign Reserves, problems at the Port etc. Again, businesses need to go on; because if the businesses don’t go on, a lot of Lives will be at risk. This is due to the fact that this economy is still largely driven by the Private sector. Close to 85per cent survival of people are dependent on Private
sector activities. So, we cannot allow the private sector to go down. We encourage businesses to review their business model; to look at how they can forge ahead in the midst of all the challenges Covid has imposed. That is also yielding results plus the fact that people are also looking for opportunities, even, in the pandemic; because they are thriving in this pandemic, better than they used to do before the pandemic. An example is the ICT sector because a lot of businesses are now migrating to the ICT space and a lot is happening in the e- commerce area and so forth. So, there are opportunities, even, in this pandemic and we tell our members not to focus on the challenges but on the opportunities thrown by the pandemic. That is the kind of engagement we have been having with the private sector, with our members. So, we teach them how to manage the Covid risk and second, how to survive, as a business, within the challenges we currently face at this trying time.
In the last quarter of last year, the federal government opened the Landed borders after over 18 months of closure; which some industry analyst would say it’s preparatory to Nigeria’s participation in the Africa Continental FreeTrade Agreement (AfCTA). Do you believe Nigeria is ready for the AfCTA? The state of preparedness, vary from sector to sector. Those who are in production…first because of the cost of production and the challenges they face especially with infrastructure, their competitiveness level is very low. Therefore, they face high vulnerability risk within the context of the AfCFTA; because at the end of the day, the AfCFTA is more about competitiveness. Trade is all about competitiveness and if you are not competitive, there is no way you can survive in a trading environment because you now have a lot more players. So, it is the fittest that will survive. And when we say the fittest, we are talking about the most competitive in terms of cost and in terms of quality. But if you look at the service sector, our service sector is a lot more competitive. They are more dynamic, they are more creative and they are more innovative. Look at our financial services sector, for instance, they can stand shoulder to should with any financial institution anywhere in the world; not just in Africa; on account of their use of IT, electronic use of cards…Talk of any technology services you can use in financial services, our banks have them. Look at their configuration, their packaging and everything… if you go to the West African sub region, they have practically dominated the banking environment in those areas and when you see their structures they stand out. It’s like we are teaching them banking, in many of these
areas. So, imagine they have bigger opportunity around the continent, of course, that would be a huge opportunity for them. The same applies to our entertainment industry: our music industry, the movie industry… the Nollywood. Already, you have strong presence in Africa. What about broadcasting… look at what private investors are doing in broadcasting. When I was growing up, it was just NTAand Radio Nigeria we had at the time. But now, look at how many broadcast stations we have. If you go to many of these African countries, if you see the quality of their broadcast, you will realize that Nigeria is far ahead of them. Imagine that our main stations have this opportunity to have presence across Africa, we will easily dominate. It is the same thing with the Print media. It is the same thing, in many other sectors, including trading. We are fantastic Traders. Anywhere you talk of retail business, you cannot beat Nigerians. And that is why we have strong presenceacrosstheentireAfrica.EveninAsia,there are environments that are Nigerian environments where they are engaged in the business serious of exporting and importing. That is why our people are having some problems in Ghana; because they have completely taken over the retail sector there. You just can’t compete with Nigerian Traders. So, in the service area we are not doing badly. Of course, we have our challenges in the service sector. But because the constraint of infrastructure does not impact the services as it impacts the Real sector. It is easier for those in services to do a lot. It is amazing what our young people are doing with E-commerce, Instagram, a lot of small, small businesses; and they are doing great things. So, in terms of preparedness, on the whole, I will not say we are not prepared. But some sectors are more prepared than others. What that tells us now is that for those sectors that are vulnerable,thegovernmentneedstodosomething quickly about them; to support them to be more competitive, to remove the constraints they are facing, to create better policy environment for them and better infrastructure environment for them so that they can also compete; because if they are not able to compete, goods from other parts of Africa will overwhelm them; because they will not be able to survive.Alarge part, of our Nigerian industrial sector, today, is surviving because of protection. When I say protection, I am talking about high tariffs, high import tariffs or complete import ban. That is what is keeping them alive. If you relax all those protections, many of them may not be able to survive. Not because they are not good investors but because the environment for them is much more difficult.
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THISDAY, THE SUNDAY NEWSPAPER ˾ Ϳ˜ 2021
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THISDAY, THE SUNDAY NEWSPAPER ˾ Ϳ˜ 2021
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˜ ˾ JANUARY 17, 2021
28
MARKET NEWS
Zenith Bank Board Meets to Discuss Results, Final Dividend Goddy Egene
The Board of Directors of
Zenith Bank Plc will meet on Thursday 28, 2021, to discuss the audited financial
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
statements (AFS) for the year ended December 31, 2020. It is also expected that
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 14Jan-2021, unless otherwise stated.
board will consider a final dividend for the year, having paid an interim dividend of
30 kobo per share last year. According to the financial institution, audited results
would only be published after relevant regulatory approval.
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 1.28% AIICO Balanced Fund 3.58 3.73 0.55% 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 0.63% Anchoria Equity Fund 136.34 136.84 1.91% Anchoria Fixed Income Fund 1.33 1.33 0.00% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund N/A N/A N/A ARM Discovery Balanced Fund N/A N/A N/A ARM Ethical Fund N/A N/A N/A ARM Eurobond Fund ($) N/A N/A N/A ARM Fixed Income Fund N/A N/A N/A ARM Money Market Fund N/A N/A N/A 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 131.60 132.52 4.30% AXA Mansard Money Market Fund 1.00 1.00 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 1.94% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.23 2.27 18.34% 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 0.02 0.00 2.00% Paramount Equity Fund 16.59 16.91 3.78% Women's Investment Fund 135.91 137.49 2.13% 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 0.72% Cordros Milestone Fund 2023 133.08 133.97 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 108.98 108.98 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 1.55% Coronation Balanced Fund 1.21 1.21 0.41% Coronation Fixed Income Fund 1.60 1.60 0.82% 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 1,392.93 1,394.55 -0.46% FBN Balanced Fund 189.36 190.79 0.90% FBN Halal Fund 111.53 111.56 0.00% FBN Money Market Fund 100.00 100.00 0.99% FBN Nigeria Eurobond (USD) Fund - Institutional 122.75 123.11 0.95% FBN Nigeria Eurobond (USD) Fund - Retail 122.88 123.24 0.94% FBN Smart Beta Equity Fund 156.99 159.37 3.84% 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 3,843.38 3,893.34 2.33% Coral Income Fund 3,317.09 3,317.09 1.56% FSDH Treasury Bills Fund 100.00 100.00 2.01% 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 0.83% Nigeria Entertainment Fund 128.87 129.40 19.48%
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 4.50% 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 N/A N/A N/A Lotus Halal Fixed Income Fund N/A N/A N/A 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 1.62 1.65 5.26% PACAM Fixed Income Fund 12.21 12.33 8.82% PACAM Money Market Fund 10.00 10.00 1.50% PACAM Equity Fund 1.58 1.59 PACAM EuroBond Fund 108.52 110.99 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 132.31 134.60 8.40% 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 0.28% 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 N/A N/A N/A Stanbic IBTC Bond Fund N/A N/A N/A Stanbic IBTC Ethical Fund N/A N/A N/A Stanbic IBTC Guaranteed Investment Fund N/A N/A N/A Stanbic IBTC Iman Fund N/A N/A N/A Stanbic IBTC Money Market Fund N/A N/A N/A Stanbic IBTC Nigerian Equity Fund N/A N/A N/A Stanbic IBTC Dollar Fund (USD) N/A N/A N/A Stanbic IBTC Shariah Fixed Income Fund N/A N/A N/A 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 1.41 1.43 3.21% United Capital Bond Fund 1.89 1.89 0.16% United Capital Equity Fund 0.91 0.93 4.61% United Capital Money Market Fund 1.00 1.00 1.49% United Capital Eurobond Fund 117.35 117.35 0.23% United Capital Wealth for Women Fund 1.09 1.10 1.03% 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 12.50 12.63 5.41% Zenith Ethical Fund 13.87 14.00 13.57% Zenith Income Fund 24.09 24.09 0.50% Zenith Money Market Fund 1.00 1.00 1.94%
REITS NAV Per Share
Fund Name SFS Skye Shelter Fund
Yield / T-Rtn
120.87
0.11%
52.46
0.11%
Bid Price
Offer Price
Yield / T-Rtn
13.00 123.81 97.61
13.10 123.81 99.73
-1.65% 1.70% -1.63%
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
Yield / T-Rtn
4.26
4.30
12.10%
Vetiva Consumer Goods Exchange Traded Fund
5.94
6.02
4.37%
Vetiva Griffin 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund
17.96 1.00 20.51
18.06 1.00 20.71
9.66% 0.87% -0.06%
196.36
198.36
-11.86%
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
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.
A
WEEKLY PULL-OUT
17.1.2021
SHADE OKOYA The Elegant Entrepreneur Behind Eleganza’s Enterprise Dr. Folashade Okoya of the famous Eleganza dynasty and the youngest wife of industrialist and business mogul, Chief Rasaq Akanni Okoya, is a woman of many parts. She is beautiful, brilliant, industrious, hard-working, fashionable, and resourceful. Her entrepreneurial spirit is second to none. With over 20 years’ experience within the Eleganza conglomerate, she has learned the ropes and gradually becoming a business tycoon running the Eleganza’s factory with multiple lines of productions. Funke Olaode unveils the unique world of Okoya, the deputy managing director of Eleganza Industrial City Limited ASSISTANT EDITOR OLUFUNKE OLAODE/funkola2000@gmail.com
54
THISDAY, THE SUNDAY NEWSPAPER ˾ ͯ͵˜ ͰͮͰͯ
COVER
Meet Nigeria’s Elegant, Enterprising and Effervescent Entrepreneur
T
he sprawling Eleganza Industrial City Limited situated on 35 acres of Land on Lagos-Epe Expressway cannot be easily missed. Gigantic and expansive, it is a multibillion-naira business estate where household items of various types are manufactured. As you enter the premises the humming of industrial machines of various sizes can be heard churning out finished products. The factory is manned by expatriates and Nigerians totalling 3,000 workers. In the midst of the sprawling industrial estate is where Folashade Okoya can be found. To an outsider, she is a socialite whose life revolves around fashion and parties. But beyond opulence and extravagance which her status attracts as a wife of a billionaire, here lies a woman with business acumen having learnt the ropes under an industrious husband. Folashade is an intelligent and hard-working wife and mother for whom her busy schedules have not led to the neglect of being a parent and also her responsibility to domestic obligations. She has built a commendable bridge of good relationships not just with her family but also across society. Folashade is a well-educated, trained, and experienced senior-level manufacturing executive with a specialization in project management, quality assurance, marketing, sales distribution, material, and logistic human resources administration and management, encompassing technology-based applications. Born in Lagos on 25 April 1977 into the family of the late Alhaji Taju and Alhaja Nimota Adeleye, from ljebu Ode in Ogun State. The business magnate began her early education at St. Bernadette Nursery and Primary School, Lagos after which she proceeded to Awori Comprehensive High School, graduating in 1991. The well-grounded woman of substance proceeded to Lagos State Polytechnic, Isolo where she read Banking and Finance. She capped it with a BSc in Sociology from the University of Lagos graduating in 2004 and was later honoured with an honorary Doctor of Science in Business Management and Corporate Leadership by the senate of European American University. The same year, she bagged the ‘Most Valuable Business Executive’ of the year from the board of trustees and the advisory council of the International Centre for Corporate Leadership for African and Blacks in Diaspora and Accolade International Marketing Limited. She has been bestowed with various awards and chieftaincy titles such as the Bewaji of Lagos, Otun Aare lyalaje of Ajiranland, Yeye Oge of Epe Land, Ajisewa of Oke Ona Egba, patron of FADAN, Fashion Designers Association of Nigeria, among others. Since she plunged herself into the many areas of business, holding various positions including managing director of Eleganza Fashion Products Limited, Eleganza Cruise and Travels Limited, as well as a member of the board of directors of Eleganza Group and RAO Investment Property Company Limited, Folashade’s transformation from being a famous pretty face to top-grade business executive, has been a classic example of brains meeting opportunities. Folashade’s endowments have activated to peak performance by her responsibilities at Eleganza Group. She set a record in the company by producing over 300,000 cartons of the company’s flagship product in a month and consistently achieving over 100 per cent of monthly production target for over five years, reducing the production of waste level and losses from over 2.5 per cent to less than 0.5 per cent without compromising quality and GMP practices, reducing overall factory running and plant maintenance expenses by over 45 per cent and at the same time maintaining high efficiency through strategic optimization. She has successfully restructured the company organogram which led to an overwhelming effective performance. Actively motivated the software development department to develop widely accepted accounting, human resources, and electronic filling software solutions thereby fundamentally increasing the company’s software productions, exceeded the company’s revenue target by over 50 per cent, pioneered the establishment of an efficient product packaging, materials and warehousing processes and procedures achieving a zero-level record of product theft. She explains: “Eleganza is a family business that has been around for close to five decades. The whole idea of the newly established EICL is to have household items in one compound. Not only that, we want to be able to give Nigerians and the West African countries what we produce locally at an affordable price. One of the dreams of the chairman, and my husband, Alhaji Rasaq Okoya, is to see that items produced in the new industry become a household name.” What does she think makes EICL tick? “It is the quality and standard. When you look at all the items mentioned, they are manufactured
locally and Eleganza is the only company doing this in Nigeria. Our new products are modernday items different from the Eleganza of old. The quality still remains the same and customers get value for their money. It is affordable. In terms of personnel working in the factory, we have both experienced expatriates and Nigerians. “We are planning to push beauty products for ladies and babies into the Nigerian market very soon. We have over 21 designs of soap that we want to push into the market as well. The beauty of it is that anything my chairman sets out to do, he does it in a unique way,“ reveals Folashade. She adds, “My husband who is the chairman is a workaholic who is passionate about what he does. What keeps him going is to see his products in every household. This keeps him motivated to do more. I shop in Europe and I know sometimes it costs 200 Euro to get a chair. You can imagine getting the same standard in less than N3, 000 locally. So, Eleganza is about touching lives positively.” Praising her husband for his commitment to serve humanity, Folashade notes: “Eleganza is synonymous with charity. These days, many of my husband’s activities revolve around religion and service to humanity through his philanthropy. These cut across the various sectors of society. At various times, he has supported medical establishments and hospital homes by donating lifesaving equipment. “His contributions to the manufacturing sector and the economy of Lagos are Folashade with husband, Rasaq Okoya. immeasurable by giving employment to thousands of people. We have over 2,000 under our employment. He has also assisted many people in establishing various business ventures. We organize an annual pilgrimage for Moslems and feed over 2,000 underprivileged every week. “My husband strongly believes in quality education and has a foundation in his name. Several undergraduates have benefited from his Alhaji Akanni Okoya Scholarship Awards across the country.” How would she assess Nigerian career women? “I am impressed with the way women are going,” she answers. “They are wonderful and industrious. Nigerian women of these days don’t sit at home like the women of yesteryears. I am lucky to belong to the generation of hard-working women. It means you can become somebody if you are focused and work on your dreams. With little or nothing, if you have a passion for something and you do it with dedication and commitment, the sky is just the beginning.” Folashade is married to one of the richest entrepreneurs in the world. How is life like being married to a billionaire? “It is awesome. It is wonderful,” she enthuses. “The marriage has been smooth. I have been enjoying my marriage. He is my best friend. One good thing about him is that he doesn’t lie. When I met him, he said if you wanted the marriage to work, I had to learn the ropes. Learning the ropes means I have to imbibe and embrace hard work. He is a workaholic and every moment with him has been wonderful.” “He is my friend and role model. He is a wonderful man. He is very industrious. If he doesn’t have the foresight, I won’t be here doing what I am doing now.” Fair, tall, elegant, and a head-turner, she could pass for a 25-year-old damsel. She is a mother of four. When she is not in the factory supervising workers or at home with her family, Folashade is either reading, jogging, making friends, or on a trip. “My children also keep me busy. When I am not in the company of my children, I love to sleep a lot,” she confesses.
THISDAY, THE SUNDAY NEWSPAPER ˾ ͯ͵˜ ͰͮͰͯ
55
ENTERTAINMENT
Cast orf original Sex and the City
Mo Abudu
The (Un)Charismatic Return of Tunde Ednut
I
t was supposed to be a grand comeback to Instagram after his account was deleted by the social media platform in December. A user reported it as spam since 2018. To an extent, it was. Tunde Ednut, music artiste and social media influencer announced his return to the platform on Sunday amidst fanfare. He strolled into the platform majestically with a dapper picture of himself and a new username @kingtundeednut to signal his royalty. Celebrities like music artiste and producer Don Jazzy, Nollywood actress Yetunde Bakare were among those who campaigned to followers to follow Ednut’s new Instagram handle. Within four hours, he gained 500,000 followers, expanding his ego to a new height. To keep the momentum, Ednut announced giveaways for his fans which included a car and N1m cash. His target was to reach one million followers. But like an action thriller film, Instagram pulled a surprising stunt on Ednut, suspending his account again as he hit the one million mark on Wednesday. Within minutes, he was a trending topic on Twitter. Tweets such as Instagram 2-0 (the 0 referring to Ednut) were ubiquitous. Bakare who had earlier posted a shot of Ednut’s profile page deactivated her comments section when users bombarded her with questions about the account. The account was later restored but the followers, posts, likes? Vanished. As of the time of filing this report, the account is yet to boast of any post or follower. His ordeal was celebrated by his detractors who relished every second of schadenfreude. Ednut, known for his bluntness, use of foul language, and acerbic statements has acquired more enemies than his mink coats. Not a few see him as a bully and a failed musician. His loyal fans, however, are stuck on him like glue. Ednut’s encounter with the social media platform is among the recent trend by big techs. Following the attack on America’s Capitol Hill by some of President Donald Trump’s supporters, Facebook, Twitter, and other platforms banned the president on their platforms over concerns that his posts were inciting violence. Twitter
Entertainment Feed
Tunde Ednut
Stories by Vanessa Obioha particularly fuelled Trump’s emergence and was his main digital megaphone. For long, there have been calls to control Trump’s influence on the platform as many deemed his information misleading and inaccurate. However, by these platforms banning Trump, a dangerous shift of political power has emerged. The power is no longer in the hands of the content producer but in the hands of the platform owners. Free speech is no longer free and not regulated by the government but by big tech oligarchs. Like Trump, Ednut may have to find another digital megaphone or will he make another effort to reclaim his kingdom? Mo Abudu Insists ‘Òlòturé’ is Not Ovuorie’s Life Story The unfolding copyright infringement drama between media mogul Mo Abudu and investigative reporter Tobore Ovuorie over Abudu’s Netflix film ‘Òlòturé’ took another twist recently. Following a lengthy interview by Ovuorie, detailing how the film depicted the trauma she went through investigating the sex trafficking report that was published in Premium Times in 2014, Abudu did a nearly 10-minute video on Instagram, denying the claims and insisting that the ‘Òlòturé’ is not the life story of Ovuorie while accusing the reporter of blackmail and extortion. Thus, she is ready to go to court or have an appropriate conversation but will not succumb to threats. “If there is one thing I stand for, it’s about integrity, working hard, and standing up for what I believe in. We’ve not exploited Tobore or anyone else and we will not be exploited. The facts are clear. We have everything in writing. And we’re prepared to defend ourselves against baseless attacks and legal challenges. We will not be intimidated because of the financial success of ‘Òlòturé’.” The EbonyLife Films founder also claimed they both had an understanding before the release of the film which included a five per cent proceeds to Ovuorie’s organisation and a pre-screening of the movie. Before contacting Ovuorie, Abudu said she reached out to Premium Times, her employer at the time. “Premium Times Services Limited, publishers of Premium Times has disclosed
that journalist Tobore Ovuorie cannot lay claim to the copyright over the investigative report which belongs to them. According to the Premium Times editor-in-chief, Mr Mojeed, only the media company and their partner on that project, Zam Chronicles, can lay claim to the copyright of that report based on Nigeria’s copyright law. We sought and obtained the rights from Premium Times, the owners of the story. As such, we fulfilled our legal obligations and do not take kindly to suggestions stating otherwise.” Abudu went on to share text messages between her and Ovuorie, indicating that the two had a somewhat cordial relationship. She disclosed that she had financially assisted Ovuorie when the latter lost her dad. The media entrepreneur reiterated that ‘Òlòturé’ “is a story inspired by true events and involving the work of scriptwriters, the development of characters and locations, situations, and occurrences that were created by our writers. Certain incidents in ‘Òlòturé’ are similar to what happened to Tobore and this is why she was given credits. But it could never be her life story as claimed.” In a statement last Wednesday, Ovuorie fired back at Abudu, saying she was never given full disclosure from the onset. “EbonyLife claimed that the right to use my life story was legally obtained from my erstwhile employer – Premium Times. Unfortunately for them and as I had earlier informed them through my lawyers, the human trafficking investigation in my story had commenced prior to my employment with Premium Times. “It is disheartening that Aunty Mo could mention that she got the right to my lifestory from my ex-employer. I am in shock that she would claim that I was contacted prior to the movie in one breath and in another that the story is not about me but about several other faceless journalists who had done what I did but did not publish experiences. “If EbonyLife had given me full disclosure from the beginning, we would not be where we are, at this point. ‘Òlòturé’ is an adaptation of my work and life-story. I experienced the investigation, the process, and the risks, upon which the movie is based. I also single-handedly authored the publication the movie relied on,” she
insisted. She clarified that she never asked Abudu for money, thus, the cash gift the media mogul sent to her during her father’s passing, in hindsight, now calls for scrutiny. “Aunty Mo’s claim that I am doing this because of money and because ‘Òlòturé’ travelled far is another deliberate attempt at mischief. The question is whether the decision to tag this movie a fiction was a deliberate attempt at maximizing profit? The allusion to the fact that my claim for compensation was outrageous when I am claiming infringement of intellectual property rights, shows that a lot needs to be done in terms of re-orientation for the entertainment landscape in Nigeria,” she argued. With the back and forth between the two parties, the war on ‘Òlòturé’ is not likely to end soon. Kim Cattrall Still Takes the Shine in Sex and the City Reboot Many headlines that carried the news of the HBO production Sex and the City reboot (including this one) focused on one key character, Kim Cattrall who is not part of the comeback plan. Cattrall played Samantha Jones one of the lovable characters of the show which aired its last episode 17 years ago and followed the lives of four female friends living their lives in New York. Cattrall’s absence resurrects an age-old feud between her and the show’s leading character Sarah Jessica Parker. According to a New York Post report in 2017, there was off-screen tension between Cattrall and her co-stars particularly Parker. In 2018 when Cattrall lost her brother, Parker sent condolences to her which the former rejected in an Instagram post that clearly stated that Parker wasn’t her friend or family. With Cattrall not part of the 10-episode reboot by HBO Max titled, ‘And Just Like That…,’ fans of the show wonder if it’s worth watching. The new series will follow Parker, her co-stars Kristin Davis and Cynthia Nixon as they navigate love and friendship in their 50s. They will also serve as executive producers alongside Michael Patrick King. The actresses will reportedly earn over $1m for each episode. Production for the half-hour series is set to begin in New York City in late spring.
COVER 2 A
WEEKLY PULL-OUT
17.1.2021
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MONDE TWALA USING MAMA TO CHANGE AFRICA’S IMAGE Can music influence the outlook of Africa? The Senior Vice President and General Manager of ViacomCBS Networks Africa, Monde Twala, believes with music awards platforms such as MTV Africa Music Awards (MAMA), it is possible. Vanessa Obioha writes.
n the last few years, the African music industry has broken barriers and occupied a glowing spotlight on the international scene. Be it the popular Nigerian Afrobeat or the hip-hop sounds from South Africa and Uganda, the sounds of Africa are getting louder every day with each breath and rhythm. Much of this is due to the penetration of smartphones and access to internet services. World Bank reports showed that mobile broadband coverage on the continent is now at 70 per cent of the population. What this means is that more and more Africans can now stream and buy music through their mobile phones. The result of that is the expansion of international music companies and services into the continent and a slew of international collaborations with African artistes. Despite the growing popularity of African music, few governments have shown willingness to invest in the music industry. To these ones, music is still a pastime, something to listen to when spirits are low and dance to when the gods open the floodgates of material and spiritual blessings. But for the Senior Vice President and General Manager of ViacomCBS Networks Africa, Monde Twala, whose music channel MTV Base played a pivotal role in promoting African music beyond the continent, music has an immense power to unify and inspire communities. “It’s this power that we all have to harness and use, to elevate youth culture across our amazing and talented continent,” Twala said in a recent chat. “This is very much a shared responsibility between the public sector, the music industry, and artists. We need to recognise the enormous potential of fostering collaboration, to grow the continent’s music industry through sustainable partnership. In addition to ViacomCBS Networks Africa, the industry has led the charge in growth and investment through these partnerships ranging from telcos, and tech leaders, as well as independent and mainstream record labels and platforms.” Such partnership was recently seen when Twala and his coGeneral Manager and SVP of the network Craig Paterson announced the return of the MTV Africa Music
ASSISTANT EDITOR OLUFUNKE OLAODE/funkola2000@gmail.com
T H I S DAY, T H E S U N DAY N E W S PA P E R ˾ JANUARY 17, 2021
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COVER 2
How One Man Intends to Echo AfricanVoices Awards (MAMA), a platform that not only recognises and rewards African music talents but also provides opportunities for international collaborations. The company recently partnered with the Ugandan government to hold the 2021 edition in Kampala, Uganda virtually after a four-year hiatus. “The MAMA in partnership with Uganda, the Pearl of Africa, is a great example of an event that creates powerful platforms and opportunities to drive cultural collaboration and a bridge between our continent’s music industry and attracting international investment, accolades and recognition. The purpose of the MAMA is to elevate and showcase African talent and culture beyond the continent and encourage global interest and investment.” The choice of Uganda is in a way an opportunity to change perceptions of the continent. Most African governments are sometimes cast in a bad light because of political conflicts and human rights abuses. Uganda, for instance, has been embroiled in political tumult lately as musician Bobi Wine seeks to end the decades’ long rulership of 76-year-old President Yoweri Museveni in an election scheduled for January 14, 2021. There have been reports of violence in the country and the latest arrest of Nigerian artistes who performed at an unauthorized concert left a bad taste in the mouths of many Nigerians. Twala, however, envisioned the 2021 MAMA as a unifying platform that will expand and showcase Africa on a global platform and talent from that country in a bid to change perceptions of the continent. He said, “The MAMA has long shown its commitment to bringing diverse cultures, African and international artistes and society together to unify, create hope and inspiration. There could not be a more powerful or important time than now to bring the MAMA to life in celebration of the continent, to bring excitement, to unify, and to support music, cultural unification, and youth from across Africa. “Hosting the MAMA in Uganda will enable an opportunity to celebrate Africa globally and provide a platform for our incredible talent while unearthing incredible up and coming talent and creating opportunities for skills development workshops and education.” Twala, a South African, is not new to the business of music having worked 20 years in the broadcast and music industry in South Africa. Before he assumed his new position, Twala was the Vice
President of ViacomCBS Networks Africa’s BET, Youth, and Music brands. He was responsible for driving the development and growth of iconic music, youth and entertainment brands BET, MTV, MTV Base, and MTV Music24, across the African continent. He joined the company in 2016, the year the last MAMA was held. With his vast experience, he is convinced that African music will continue to grow at a phenomenal rate. “Even if Africans are listening to international artistes like Drake, the moststreamed artiste on Deezer, a music streaming platform is Algerian rapper, Soolking.” A key focus of the upcoming MAMAs is African youths. Having seen enormous creativity and activism from African youths in a very challenging year, a special award, Generation Change Award is dedicated to young people who are making an impact on society and their communities. “One-fifth of the world’s youth population lives in Africa according to the United Nations, with a median age of 15. Young Africans are driving change in society, they are championing culture and actively standing up for what they believe in. The MAMA represents a great platform for a young audience with the intent to shape culture, inspire positivity and elevate excellence,” stated Twala.He continued: “We are all united through music. Music brings people together and empowers the youth, who are the leaders of tomorrow. The MAMA in Uganda is an amazing opportunity to celebrate both youth culture and Africa’s musical talent. Awards platforms like the MAMA are key to nurturing new musical talent and ensuring that we also inspire the next generation of African stars who will journey on to become the best in the world.” Through the network channel MTV Base and other programmes such as ‘MTV Shuga’, ‘Isono’ on BET Africa, Twala opined that VCN Africa will “continue to break borders, give a voice to the youth across the continent, and shine the light on African talent, through authentic African storytelling and music culture.”
Twala
“Hosting the MAMA in Uganda will enable an opportunity to celebrate Africa globally and provide a platform for our incredible talent while unearthing incredible up and coming talent and creating opportunities for skills development workshops and education.”
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THISDAY, THE SUNDAY NEWSPAPER ˾ ͯ͵˜ ͰͮͰͯ
HighLife Inside the World of Nigeria’s Most Stylish Pastor, Siju Iluyomade
Iluyomade
T
he days are long past when men and women of God wore the faith under a robe of impoverishment and monotonous vestments. Present-day overseers of Christian assemblies, especially, have taken to showing the way in all walks of life. Siju Iluyomade is a case study. A lawyer, public speaker, activist, and pastor, Dr. Siju Iluyomade is unlike most people in the courtroom, podium, or pulpit. Easily striding back and forth across the bridge established by both sides of the religious and non-religious outlooks, Iluyomade has managed to be relevant to both: spiritual enough to be the light to the world, and contemporary enough to inspire everyday people. Since she hit the ground running with her Arise Women Conference, the 56-year-old has raised the bar all over the country on the identity of women as capable members of humanity, their upliftment and empowerment, and the truth about their being “...the hand that rocks the cradle (that) rules the world.” For many, Dr. Siju Iluyomade is the super-stylish wife of Pastor Idowu Iluyomade (also known as Pastor ID), a senior pastor at the Redeemed Christian Church of God City of David Parish,Victoria Island, Lagos. In truth, Iluyomade’s fashion sense and sheer magnetic presence are enough to convince one that she is ‘other’—that is, that she is different, a natural-born leader and pillar of change and transformation. And this is what she has done with her faith-based non-governmental organisation (NGO) for women empowerment and Handmaidens Women in Leadership Series (HWILS), Arise Women.
There are speculations circulating regarding the figure behind a Nigerian airline, Ibom Air. The airline is the state property of Akwa Ibom, something that Governor Emmanuel Udom waxed merry about during its launch in 2019: that his Akwa Ibom is the only state with its own airline and airport. However, folks with better insider information have alleged that the airline is, for all intents and purposes, the property of prominent Nigerian oil and gas magnate, Akanimo Udofia. Akanimo Udofia (alias AK-47) is the managing director of Desicom Engineering, a frontline company with interests in the “provision of innovative Engineering, Procurement and Construction (EPC) solutions for Nigeria’s oil and gas industries.” Udofia was educated at the University of Uyo, obtaining a degree in Business Administration) and Harvard University (MBA). These qualified him to take over Desicom Engineering from his father, Obong
with KAYODE ALFRED ͮͶͯͯʹ͵ͳͷͶͮ͵˜ E-mail: kayflex2@yahoo.com
...Amazing lifestyles of Nigeria’s rich and famous
Is Billionaire Businessman, Akanimo Udofia, Behind Ibom Airline?
Udofia
Asuquo Udofia, and eventually raised it into an A-list company, servicing multinational toppers of the energy
sector, like Royal Dutch Shell and Chevron. The man lives in such comfort and style that he had already begun to traverse the clouds in his private jet long before his peers realised that one could own a private jet! Thus, one does not need the twittering of little media birds to see the width of Udofia’s wealth or spy the depth of his influence. With such width and depth, Udofia is reportedly able to clasp hands with Akwa Ibom governor, engage in tête-à-tête, and play the role of a chief adviser all day long. Those in the thick of things have stated that this same Akanimo Udofia was able to deliver with Ibom Air, and has been the backbone of the whole gig. Of course, others (who are tight with the billionaire) deny his participation in the establishment and operation of Ibom
Exclusive! How Bolu Akin-Olugbade Made Peace with Olu Okeowo Before His Death ÒÏ ÜÏ×Ù ÏÑßØ ÝÙÌË ÙØØÏÍÞÓÙØ The great black bee of death has stung one of the nation’s top tycoons into eternal silence. Popular man of wealth Bolu Akin-Olugbade is no more. Like a mirage that suddenly morphs into reality, like distant rumours of war transforming into loud drumbeats of blood, life’s great leveller came without warning and stole away the scion of the Olugbade family. As what was thought to be a generic malady of age metamorphosed into a COVID-19 infection, hopes remained high that the big-time lawyer would pull through. After all, he was being treated to on-the-clock attention with the best medical care money can buy. The optimism soon gave way to resignation as the clock of existence tolled the last hours for the patron saint of Rolls-Royce in Nigeria. Sources indicated that Bolu still got to say his last words to Ladun, his wife of four decades, and some of his kids before he closed his eyes in eternal sleep. Renowned for his sagacity, loyalty, and kindness, perhaps the late industrialist
had a premonition that he was not long for this world. In the face of impending mortality, quarrels and betrayals fade into insignificance. Only a lifetime of love, the knowledge of a lasting legacy, and the warm light of enduring friendships are worth holding on to at the eleventh hour. Hence, the move to reconcile with his great friend-turned-rival, Sir Olu Okeowo, a few weeks ago. Bolu Akin-Olugbade, the Ààr Ona-Kakanfo of Òwu Kingdom shared many things in common. They had billions in their bank accounts, Rolls-Royces and Limos in their garages, mansions in choice locations. They also shared an enviable friendship, and, later, a frosty cold war. So pronounced was their tiff for the past few years that whenever one entered a public function where the other already was, the temperature of the place would instantly drop to freezing point. Many people had tried to play peacemaker but their efforts met with brick walls and locked gates.
Okeowo
It took the intervention of former Ogun State Governor, Aremo Segun Osoba, to mend the rope of friendship of these two prominent sons of Yorubaland. The two of them sheathed their swords, promised to let bygones be bygones, and promptly resumed their brotherhood. Unknown to everyone at the reconciliation meeting which took place in Banana Island, Ikoyi, Lagos on December 21, this was Bolu’s last salute to a bosom friend.
Fit as a Fiddle: Tinubu Shuts Down Rumours of Illness
Tinubu
Amidst rumours that several political and billionaire Nigerian bigwigs have been infected with COVID-19, many media houses and bloggers were jittery with anticipation. Some of these had gone so far as to point the finger and name names, including All Progressives Congress (APC) chieftain, Asiwaju Bola Ahmed Tinubu, in the Has-Coronavirus list. Tinubu responded, doing so in sublime fashion: with a picture worth a thousand words. Tinubu has brought the reports of his ill health to an end. This he did when he uploaded a picture showing him sit between the monarch of Ikateland, Oba Saheed Ademola Elegushi, and Lagos State Head of Service, Hakeem Muri-Okunola (HMO). Smiling alongside Elegushi and HMO, Tinubu is obviously vacationing—not languishing in a London hospital as rumours claimed. Recall that Tinubu has been the subject of the COVID-19
malaise since top political shots fell victim to it in 2020. The buzz increased to a new decibel at the close of the year, some folks even said they had seen Tinubu receive treatment at a hospital in France. Later, the rumours adjusted the location of Tinubu’s purported confinement, that he had been moved to—or had always been in—London, still receiving treatment for COVID-19. Although Tinubu’s family and friends did their bit to rebut the claim, the rumours only now began to subside because of the photo showing a ruddy Tinubu with Oba Elegushi and HMO. It remains a thing of conjecture as to whether the rumours will continue to taper off, or some other ‘news’ will emerge to contradict Tinubu’s evident top health condition. In the meantime, Asiwaju Bola Ahmed Tinubu is as fit as a fiddle.
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THISDAY, THE SUNDAY NEWSPAPER ˾ ͯ͵˜ ͰͮͰͯ
HIGHLIFE
Golden Era as Ibinabo Fiberesima Turns 50
It is a golden period for veteran Nollywood star and former President of the Actors’ Guild of Nigeria, Ibinabo Fiberesima, as she clocks 50 with a youthful shine. Ever dazzling, ever brilliant, the native of Port Harcourt, Rivers State, celebrated her birthday beaming and proud. Fine and fabulous are apt words to describe Ibinabo Fiberesima as she entered the golden age class. Still a stunning bundle of gorgeousness after many years on the silver screen, Fiberesima’s first step into her golden years is troubling the waters of social media. Leaving aside her stylish dress that glittered almost as much as she did, Fiberesima’s characteristic smile was on and left behind an aftertaste of goodwill and appreciation. But she has been lighting up every room she enters since 1991, during and after the Miss Nigeria beauty pageant. After she came third at the 1991 Miss Nigeria, the path to greatness was paved
Fiberesima
for Ibinabo Fiberesima. Between that time
and 1998, she participated in several similar pageants, coming up top in most of them, especially at Miss Wonderful in 1997. Thereafter, the stage was set for Fiberesima’s acting career. Since the early 2000s, Ibinabo Fiberesima has been featured in many Nigerian blockbusters, including Letters to a Stranger, Camouflage, A Night in the Philippines, and several more. It hasn’t been roses and wine for Ibinabo Fiberesima since she became a celebrated filmmaker. Like moths to flames, there have been troubling times that threatened her freedom, reputation, career, even her life. From being the face and figure of beauty in the late 1990s to climbing the heights of Nollywood to being AGN’s president, Ibinabo Fiberesima has come a long way. Fifty hurrahs for beauty, talent, and grace.
Aare Rasaq Akanni Okoya at 81
Rumble in a House as Obasa Sacks Four Aides After seemingly unending travail after travail, Lagos State House of Assembly Speaker, Rt. Hon. Mudashiru Obasa, has done a bit of ‘house cleaning.’ Perhaps, the year 2021 will bring as few troubles as possible, unlike 2020. According to recent reports, Obasa fired four of his aides including his Chief of Staff, Saka Fafunmi. The others are Tolani Abati, Chief Press Secretary; Hon. Dayo Famakinwa, Special Adviser on Political Affairs; and Oladimeji Oriyomi, Special Adviser on Research. Some folks commented that Obasa’s move is not as simple as others claimed as it may affect his media reach, political
Obasa
bridge, among other things. Perhaps, some political analysts have
Osaro Onaiwu Loses Mom Like fireworks propelled into the sky, leaving lasting impressions in the eyes and hearts of observers, a life well lived has similar effects. And this is how renowned politician and socialite, Osaro Onaiwu, chooses to remember his mother, who recently passed away at the age of 92. The entire Onaiwu Dynasty of Orovie, the Benin Kingdom in Edo State, has published the news of
the departure of the Onaiwu matriarch, Deaconess A.U. Onaiwu, onto glory. According to the report, the renowned teacher began her eternal rest on December 10, 2020, leaving behind a good name that future generations will be honoured to share. The renowned politician, entrepreneur, socialite, and Director General of the Peoples Democratic Party (PDP) Governors’ Forum, Earl Osaro Onaiwu, is her son—which goes to show
observed Obasa simply intends to begin 2021 with a fresh team. Others have noted—even though no evidence for it—that Obasa is simply rooting out gaps in his arsenal. The year has only begun, so there is much to come which will shed light on this laying off of heavy-duty staff. To be sure, the year 2020 was not a bed of roses for Obasa. Such was the burden of the office that there was even a threat of impeachment. So, nobody knows where it stings like the man wearing the crown. Which may have something to do with Fafunmi and co. facing the firing squad—or nothing at all. the width of her branches. The late Onaiwu was a prominent character in Orovie, Ovia North East Local Government Area. Married to Pa. Samuel Imahiyerobo (now late), Mama was partly responsible for overseeing the affairs of the Onaiwu clan. Because her husband was an education inspector, and she was an educationist, it didn’t take too long before the Onaiwu house was renowned for its progressiveness. One can see the efforts duly spent on Osaro Onaiwu. It is thus no surprise that the entire Onaiwu Dynasty will spare nothing in the funeral rites of their deceased matron.
Imo PCC Commissioner, Chief Willy Amadi’s Sex Scandal It is iconic Edo State lawmaker, Patrick Obahiagbon, that popularised the Biblical lamentation: “...Thy glory, o Israel, is slammed upon high places, how art the
Retraction: Who’ll Save Aremo Oniru? Ï ÒÏÜÏÌã ÜÏÞÜËÍÞ ÞÒÏ ÝÞÙÜã ÍËÚÞÓÙØÏΘ ˩ ÒÙ˪ÖÖ ËàÏ ÜÏ×Ù ØÓÜßˣ˪ áÒÓÍÒ áËÝ ÍËÚÞßÜÏÎ ÓØ ÙßÜ ÚÜÓØÞ ËØÎ ÙØÖÓØÏ ÚßÌÖÓÍËÞÓÙØÝ ÙÐ ÏÍÏ×ÌÏÜ ͓͑˜ ͓͓͑͑˛ ÒÏ ËÜÞÓÍÖÏ áËÝ ØÙÞ ÚÜÙÚÏÜÖã àÏÞÞÏΘ ËØÎ ÞÒßÝ ÎÓÎ ØÙÞ ÜÏÚÙÜÞ ÞÒÏ ÐËÍÞÝ ËÌÙßÞ ÞÒÏ ÒËÚÚÏØÝÞËØÍÏ ËÝ áÏ ÓØÞÏØÎÏβ Libellingandvilificationarenot—andhave ØÏàÏÜ ÌÏÏØ̐ÙßÜ ÎÏÝÓÑØ˛ àÏÜã ÒÓÝ Ëã ÚßÌÖÓÍËÞÓÙØ ÓÝ ÓØÞÏØÎÏÎ ÞÙ ÓØÐÙÜ× ÙÜ ÏÎßÍËÞϘ ÜÏÚÙÜÞÓØÑ ÐËÍÞÝ ËÝ áÏ ÐÓØÎ ÞÒÏײ Òßݘ áÏ ËÜÏ ØÙÞ ÙßÞ ÞÙ ÎÏÐË×Ï ÙÜ ÝÖËØÎÏÜ ÞÒÏ ÜÏÚßÞËÞÓÙØ ÙÐ ÜÏ×Ù ÏÑßØ ØÓÜߘ ËØÎ ×ÏËØ ÒÓ× ØÙ ÒËÜײ Ï ÒÏÜÏ Ìã ËÚÙÖÙÑÓÝÏ ÐÙÜ ËØã ÎË×ËÑÏ ÞÒÏ ËÜÞÓÍÖÏ ÒËÝ ÍËßÝÏÎ ÒÓײ
mighty fallen! Tell it not in Gath, publish it not in the streets of Ashkelon, lest the daughters of the Philistines rejoice, lest the daughters of the uncircumcised exult.” The Federal Commissioner, Imo State Office of the Public Complaint Commission (PCC), Chief Willy Amadi, is the subject of much sermonising, censure, and confusion after a viral video seemed to have shown him in a steamy position with two ladies. The clip lasts a mere 12 seconds but has already cast aspersions on the commissioner to last a decade. The viral video showing him bare-chested with a golden crucifix, portraying a satisfied at the end of a session of passion. According to reports, the video was leaked via WhatsApp but later removed since it violates the terms and conditions of the messaging platform. In the hours since the video was made public, Chief Amadi has come under heavy condemnation bringing his office and family into disrepute. All things being equal, a storm is
Amadi
coming for Chief Willy Amadi—the same storm that came for every other government official caught in a scandalous position.
Okoya
A
t the end of the day, there is something unique in all of us. To say that there is—and there will ever be—only one Aare Rasaq Akanni Okoya is to oversimplify the truth. At 81, Chief Rasaq Okoya is still as smooth, charming, and unreservedly progressive as a man half his age. It has become something of a custom to celebrate his birthday at the beginning of every year, precisely January 12. In truth, the man deserves all the accolades accorded him, having paid his dues earlier on in his life—and continues to do so. The title of ‘number one Nigerian industrialist’ has always gone to Chief Okoya, mostly because he built one of the most solid, stable, and unshakeable enterprises in the country: the Eleganza group. This reputation was not easily acquired. Chief Rasaq Okoya was born in Lagos at a time when Nigerians traded in pounds and had their own brand of troubles, chiefly an economy that was still in its infancy. But good and forwardthinking parents paved the way for him, allowing him to apprentice at the family tailoring business, and learn the basics of financial management. The young Okoya took to marketing and sales as fish to water and soon began to operate beyond the boundaries of the country. The best evidence of Chief Okoya’s business genius is his Eleganza group, which he built from the ground up from the same source of inspiration he always had: his family. According to what has long passed into legends, Okoya started Eleganza by buying jewellery for his first wife, Kuburat Okoya. Realising that the costs were a bit overboard, he did the unthinkable: he bought machines and started his own jewellery-cutting business. Eleganza has only grown in width and depth since then. Any wonder the name Aare Rasaq Akanni Okoya is heavily featured on front pages of newspapers all over the country, every New Year? At 81, Chief Okoya is a name unto himself: a good and honourable name.
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THISDAY, THE SUNDAY NEWSPAPER ˾ ͯ͵˜ ͰͮͰͯ
LOUD WHISPERS
with JOSEPH EDGAR (09095325791)
Osagie Ehanire – Are You on Vacation? Bro, it looks like you have travelled to an exotic beach with your family for vacation while your house is on fire. While wearing shorts there and displaying your bow legs, your colleagues in the medical world have all gone crazy with mercantilism. Are you not seeing the crazy bills they are giving Nigerians to save their lives? I have seen someone holding a bill of N36m and another N20m and they are both wondering if it was not better to have just stayed at home to fight this covid with orogbo and kai-kai. My dear health minister, your doctors have all gone rogue and their association is just there announcing with glib the death of their colleagues and joining
moribund NLC to be looking for a minimum wage instead of them to fight for common PPE for their colleagues nationwide. What is the matter with these people? Are they mad or something? Can’t they see that this pandemic is taking us out? They now form themselves into a band of medical mercenaries and charging N200,000 per home visit. Mr. Minister, you are even charging VAT for the COVID-19 test! What is the matter with you? Oga, please, I really don’t want to be abusive and insulting but I am really struggling to hold myself. I do a COVID-19 test for my son and I was charged VAT” VAT! After the N50,000. So if I am testing for my whole family of seven how much will I pay and
now you will be saying Nigerians are not testing? Why would they test when the cost of testing can cure Ebola in Liberia? Stories abound of all sorts of unethical play by your people, selling negative results, changing positive to negative. Some even pay to get positive so they can go on a 14-day leave. My brother, I don’t know what you are doing o but it looks like you no dey house. With only about 20,000 active cases and we are shouting tsunami. If a country of 200 million people cannot provide adequate care for 20,000 people then our problem no be COVID-19 at all. Covid just take advantage. Our problem dey somewhere else. Oga, please come back from vacation and sit up. Thank you.
Ehanire
Kukah
Biden
Museveni
MATTHEW HASSAN KUKAH – NOT A STRAND OF HIS HAIR This kind of fight my mama used to be an expert in it. After I have gone to look for trouble and they want to beat me, I will run to my mother and hide behind her big bum. I will never run to my papa o. That one will just throw me out and they will give me the beating of my life. But my mama will say, let a strand of his hair be missing and you will see what I did in the civil war and everybody in Shomolu that time will be afraid as nobody want Mama Calabar wey be soldier problem. So Father Kukah don go find trouble and the trouble don come. I don’t know if he has run to hide behind anybody’s bum because that would be against his vows but a lot of bums have come up to offer him refuge. My brother FFK has jumped into the fray and even the federal government has also tried to calm tempers. This Muslim Solidarity people are mean o. They say the baba should apologise or leave town, this is not the way to handle things like this. I don’t want to jump in like my brother FFK, you know my mama just die taking away my major source of protection so I have to tread carefully. You see my Muslim brothers, Baba Kukah did not say anything so wrong to warrant this mobile fatwah. I wonder why you guys cannot engage him rationally and fight him back logic for logic. All this gra-gra and motor park fighting is not good and leads to nothing. So please issue your own statement and ask him categorically
apart from all this talk since 1980 what exactly he has done for the country. Ask him if he is not part of the problem. In fact, ask him if he has not seen what other reverend fathers have done in the world and not just to be talking and talking up and down. In fact, yab him that all this talk he never even get promotion to be Archbishop of Nigeria, talkless of Pope. After all he and Pope na the same seminary dey go. Tell him say no be him mates be canon and saints that even me, Duke of Shomolu, if I join Catholic today, I go make saint before am because all the yellow women will vote for me. You can abuse him finish, even ask am if he can give woman belle but to say he should leave any territory in Nigeria you no fit. You no get the power and you no fit try am and that is why we are saying touch his hair and let’s see – that is how they say it in Shomolu before everybody run away before the fight. Me sef don talk and don run away o. This Nigeria sef, it is a huge reality TV series, I tell you.
first appointed one tall black Yoruba boy that is not even fine sef to work in his Treasury. Now he has appointed one Yoruba girl from Kogi. Please, we do not accept these appointments as they do not reflect our true federal character. There is no balancing. Is he saying that in that America there is no Ibibio man or someone from Zango Kataf to appoint so that we will be better represented? That man that went to sue Twitter the other time will not come out now o. How can Biden slap our country like this? Please, if he doesn’t make amends and pull back from this confusing road, I will advise our president, the father of Federal Character not to attend or even send a congratulatory message to him. I am even regretting staying up late looking at the videos of the hoodlums in a bid to identify some of them especially the ones that went from Shomolu.
JOE BIDEN – WHERE IS THE FEDERAL CHARACTER? This Joe Biden is a tribalist o. No wonder the people storm Capitol to stop his emergence. I have been saying it that all the jobless people in America cannot just be entering bus and go and carry table and chair for Pelosi office. Biden wants to cause confusion in Nigeria with all these appointments. He has so far gone against the Federal Character principle and appointed only three Yoruba people to his cabinet. He
YOWERI MUSEVENI – OLD WARHORSE SEEKS SIXTH TERM We have been assailed with all the gory stories that are happening on the eve of the elections in Uganda. These people will sha never learn. Still playing from the same script. This gorimapa wants to run for a sixth term and has been trampling on all of the rights of the average Ugandan to achieve this inordinate ambition. I sha like to use the phrase – inordinate ambition. I just saw a very troubling video of the wife of the opposition leader being assaulted and stripped naked by agents of the authorities. Why for
Akin-Olugbade
heaven’s sake would someone in his right senses want to do a sixth term in this day and age? What does he even have to offer with his big head? Why are African leaders so so shallow in their thinking and outlook? The ones that will not want to overstay will put their stooges so that they can be ruling from the back. I think the AU should step in and not recognize the election or Museveni with his mustache if he wins. The state should be declared a pariah state so that this would send a strong signal to the rest of Africa. Meanwhile, madam opposition, you are tying wrapper and only pants and go to war, you sef na wah. BOLU AKIN-OLUGBADE’S PASSING It was just a few days ago that I was having a WhatsApp chat with Dr. Segun Akin Olugbade his younger brother and his name was mentioned. Dr. Segun had sent me a clip of their father sitting at the right-hand side of Chief Obafemi Awolowo – you know my new play is titled Awo. This clip led us to having some light banter as to why his brother grew in so much wealth and he went the other way to be a technocrat. I love engaging with Dr. Segun as he always has some very strong logic with a clear understanding of the issues that pervade this our country. This was just four days to the sad passing of his mercurial brother. I had engaged with the late business icon just once on the phone. In looking for money for my play, Aremu, I had got Dr. Segun’s
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LOUD WHISPERS number from someone who had sworn me to secrecy. But immediately I called and mentioned my name, Dr. Segun said, “Ohh I know you, Duke of Shomolu! I read your column and I think you are the best to come out of Africa.” Don’t mind me, he didn’t say that oh. Anyway, we met up and we spoke and he gave me his brother’s numbers. I called him and he picked at the first ring. That was strange for a man of that stature to pick at the first ring. Some people, two years now I still dey call oh. They have changed NIN number and I still dey call. We spoke extensively of Owu land and the role he was playing in its development. He also talked about issues of national importance and was kind enough to say – I am sorry I will not be supporting this at this time. I thanked him for not posting me as others would do even as I carried my wahala go find another person. But he didn’t end the relationship like that oh as he started sending me riddles on WhatsApp. He will say guess the answer and I will be asking myself, that this one does not know that I am inside go-slow on top Oyingbo bridge and he will be inside Rolls Royce and be asking me a riddle. I will say I don’t know the answer sir and he will laugh and tell me the answer. I will say yes sir, I should have known that. Then he will disappear again only to come back after a few weeks with another set of riddles. That was my encounter with him. I didn’t find him stuffy or any of that. But if my engagement with Dr. Segun, which is more robust is anything to go by, then I must conclude that the late Bolu Akin Olugbade was indeed a warm and nice gentleman. This cock did not crow well as I think very sincerely that once again, Nigeria had lost a leading light. Let me seize this opportunity to wish the family God’s total guidance at this time. God bless you all. BABAJIDE SANWO-OLU – WHAT EXACTLY CAN I SAY? It was last Wednesday evening, I was about to bury my head in a hot bowl of water with garlic, ginger, and aboniki balm when the call came. It was my friend Edi Lawani who said Edgar, it Is not the ginger or the garlic, it is the steam. Nothing I have not heard. Nigerians are just doing everything possible to stay alive. Well, that is how the phone kept ringing and I picked. The voice said, is that the Duke of Shomolu, I say yes. Hoping it was not NCDC. My son had just passed the COVID-19 test and I was hoping they were not calling to say the wrong result like they have been doing in some cases. I said yes oh it is me and he said I have a message from His Excellency Governor Sanwo-Olu on the passing of your mother. Kai, I jump up. I was naked as in stark naked, na Eddie say for the thing to work I must be naked with my balls hanging out. I say sorry sir, what did you say and he say I have a message for you from His Excellency. Now guys listen: in this my small life I have received calls from governor before o. Ambode has called me twice but this one touch me because I yab the man during election. I say he wear labu-labu trouser and I say I stand for Ambode. Even a day before I don yab am for TheCable asking him what is happening in Lagos with COVID-19. So this call touch me. Call it anything, he touch me. I then remember that duchess was beside me and he go dey look down on me, so I put the phone on speaker and say, “Ehn, what were you saying?” and the man repeat and duchess shout kai. Tell him we need
Sanwo-Olu
Adeniran
palliative oh. I ignore. I say please help me greet His Excellency, tell him that my head is swelling and that my mother’s last words were “God bless Sanwo-Olu.” He laughed and said he will convey the message. I say thank you so so much for this call because it came at the right time. You see my egbon Bode for Duke Summit had just called me an embarrassment who has lost relevance as a result of my position on some issues on the WhatsApp group. So His Excellency calling me a
few hours after really gave me a boost because that statement got to me. Anyway, life must continue. We move. Thanks, your Excellency. Let me even ask, have you ever eaten afang before? Let me send it to you. ADE ADEFEKO’S DIPLOMATIC LICENCE This my egbon has just been announced Honorary Consul of Botswana in Nigeria. No wonder if you follow him on Instagram you will be seeing his picture with so many big
CSP ALIYU – A WELLDESERVED PROMOTION My brother from another mother, CSP Aliyu of the X Squad has just been promoted to full CSP by the police. Na me he first call o. He was so elated that we were both shouting CSP! CSP! CSP! This is a well-deserved promotion which tells me that all hope is not lost. I first met Aliyu when I was robbed and the then CP of Lagos Edgal had asked him to handle my case. In no time he had apprehended all suspects which included some members of Lastma. Yes oh! It was a combined team of police, Lastma, and guguru-defence that robbed me that Sunday morning under the bridge at Ojota. They took me
Aliyu
to an ATM and withdrew all my money and left me stranded. It was my brother Chike that transferred money to me before I got home. Edgal was livid and gave Aliyu marching orders. Aliyu did wonders and since then we have become blood brothers. So when he got his promotion he called and I have been so happy like say na me them promote. The man is just such a hard worker that you cannot see this in any other way than the fact that he is being rewarded for his dedication. Afang for you bro. Send location, abeg no share with DPO Alausa o; that woman don show me tire. I don run.
people in South Africa. Ade has posed with Mandela, Tutu, all of them o. He will just be smiling and walking with them from the plane to the football field to the dentist and even to the farm. Remember he is a big boy with Olam, the people who are doing agricultural revolution in Africa. Ade speaks eleven international languages and has a huge networking reach hence this his new assignment which will make it easy for me to run by the time the Sokoto people slap Kukah and FFK carry out his threat. Ade go just give me visa to Botswana, the land of the yellow virgins with exposed breasts. Yes na. Why do you think I am so excited that my friend who I last saw at the Wheatbaker and he bought me a bottle of Coke and he say, “Edgar no drink pass Coke oh,” and I say my brother no worry na takeaway sef so they will not charge you service charge and he hug me – is now an international diplomat? Ade comes from a rich pedigree in banking. He was the very first that I modelled my sales career after. He was bold, confident, and sassy. I used to love his suits and he showed me the way very early. He and Francis Okumagba. He left banking quite early and has done so well for himself that he today more than deserves this appointment. Well done, bro, and more quick wins for you. Sha stay safe. NEW VILLAGE HEADMASTER MISREPRESENTS OUR HERITAGE It was the actor who portrayed Prince Dagbolu in the classic TV series who first told me about the revival of this beautiful masterpiece. He had come to my sister’s house, the beautiful Gloria Etim and on his way out had mentioned that he was going to camp for the shooting of the Village Headmaster. Then my brother Yemi Shodimu also announced that he was part of the cast. On further information, I was made to understand that the massively talented Wale Adenuga was the producer. My excitement knew no bounds. We all grew up with Village Headmaster. It delineated our nationalism with very strong characters interpreted by hugely talented casts. Jab Adu, Dejumo Lewis, Ibidun Allison, and the rest really brought the series to life. Mr. Adenuga did excellently well by assembling the very best in modern-day acting but lost it when he tried to situate the play in modernday Nigeria. I was crestfallen when I saw the promo. He had gone to a dirty place that was looking like Mowe to shoot. Instead of some serene village along the Atlantic coast. In trying to infuse modernity he killed it in my estimation. I expected a period piece. Placed in the old Oja village complete with its old-time ethos and values. So that modern-day Nigerians would reconnect to our proud past and see how Nigerians lived. In his haste to commercialize and pander to the yearnings of the millennials, he lost the plot. I have yet to view the whole series, so I hold my breath. But if the promo is what will come, I am unhappy. He sha try abi. BANKE ADENIRAN – A SHOUTOUT You know you have a friend when something hits you. Banke was Erelu’s best friend. They grew up together in Ibadan and Erelu was always going on about her friend Banke. Well when Erelu passed, she stood and showed the depth of her friendship. This is just to say thank you to the very beautiful lady even as I wish her well. God bless you.
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Adebayo Adeoye bayoolunla@gmail.com; 08054680651
Businessman Kola Karim’s Elevation
Oba Elegushi
Oba Saheed Elegushi in Joyous Mood
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or debonair monarch, Oba Saheed Ademola Elegushi and his adorable Queen, Olori Sekinat Aramide, January 3, 2021, will go down as most unforgettable. On that day, their adorable daughters, Princess Sofiat, 17, and Princess Soliat, 16, both made them proud during their Walimatul Quran graduation at the popular The Monarch, an event centre, in Lekki, Lagos. At the well-attended event, which was held in accordance with the COVID-19 protocols, the young princesses wowed the guests, including the guest speaker, Sheikh Farouq Sulaiman Onikijipa, with the beautiful recitation of some verses of the holy Quran. In attendance were close family members and notable friends of the Elegushi, including Lagos State Head of Service, Hakeem MuriOkunola; Oba Omogbolahan Lawal, the Oniru of Iruland; Lagos State Commissioner for Home Affairs, Prince Anofi Elegushi and business mogul, Taiwo Afolabi to mention a few. Meanwhile, Society Watch also learnt that the royal father’s joy was further buoyed by the admission of his first child, Sofiat, into one of the Ivy League universities in the United States of America. The girl, it was learnt, has completed all her admission processes and will be moving down to the United States in a couple of days, to commence academic activities.
When billionaire Harry Akande died at 77 on December 5, 2020, many of his family members, friends, and business associates were thrown into mourning and it was not unexpected considering his towering status in life. But in the midst of the tearful moments, one of the thoughts in the inner recesses of some prominent citizens in Ibadan, Oyo State was finding another worthy “son of the soil,” who could step into his large shoes as Agbaoye, the highest honorary chieftaincy title in Ibadan, which he was bestowed with until he breathed his last on that fateful day. For more than a month, the seemingly tortuous search for a fitting replacement for the chieftain, who must be very wealthy, powerful, and influential had gone on. But at last, after wider consultations, Kola Karim, a shipping magnate and stupendously wealthy boss of Shoreline Natural Resources, has been unanimously chosen as the next receiver of the distinguished title. His selection, Society Watch gathered, seems to go down well with all, considering his class and social eminence, which all come
Karim
with the age-long honorary traditional title. A source privy to the rigorous
selection process disclosed to Society Watch that Karim, one of the youngest tipped for the title, became the popular choice based on his influence and connection that go beyond the shores of Africa as well as his almost unmatched generosity. For Karim, therefore, it is the icing on the cake. The billionaire is an astute and visionary businessman with a vast business empire and substantial investments in many key sectors of the economy. By virtue of his rare accomplishments, he is one of few Nigeria’s businessmen who can rub shoulders with other top businessmen around the globe. A man gifted with the Midas touch, he never wavered, even when he was being hounded by the powers that be. Karim, also the Chairman of the board of directors of Costain (West Africa) Plc, Nigerian Ropes Plc, serves as a director of seven other companies, including Shoreline Power Company Ltd, Shoreline Energy International Ltd, Ecobank Nigeria Plc, Schlumberger Testing & Production Services Nigeria Ltd, Trans Amadi Facilities Ltd, Grange Education Ltd, and African Eagles Plc.
Quorum Energy Boss, Lukman Lawal, Shames Naysayers Those who know Abiola Lukman Lawal, CEO/Managing Director of Quorum Energy Logistics, will attest to the fact that he is a stickler for excellence. So, to his far-flung fans, it didn’t come as a surprise that his chain of businesses, particularly the aviation and logistics business, has taken the industry by storm shortly after its launch. Any time he has the opportunity to talk about his humble beginning, he is always quick to say that he learnt the ABC of doing business, which includes foresightedness, steadfastness, courage, and adaptability to changes, from other magnates. Perhaps, the above are all that steadied his feet, following the crash of one of the helicopters in the fleet of Quorum Aviation, Bell 206BIII in Ikeja, Lagos in August
2020. At that time, many naysayers, especially those with a sense of schadenfreude, had gone to town thinking Lawal had hit rock bottom. But he was able to triumph over his adversity. It will be recalled that his aviation firm secured its Air Operators’ Certificate, OAC, in 2018, after scaling through five rigorous stages with the Nigerian Civil Aviation Authority, NCAA. Before founding his own company, the shrewd businessman had held management positions in firms such as Oando PLC, where he was an executive director, Gas & Power Division; chief strategy officer & executive vice president, CAMAC Energy Inc, a U.S.based energy company engaged in the exploration, development, production, and distribution of oil and gas.
Lawal
Super Cop, Hakeem Odumosu’s Unreported Humanness
Odumosu
His face does not strike you as a tough cop. But if you underestimate him because of his gentle mien you do that on your own peril. Lagos State Commissioner of Police, Hakeem Odumosu does not strike you as the no-nonsense, aggressive persona instead, he
comes across as a quiet, media shy, humble, yet assertive man. But be careful not to let the calm exterior fool you. The tall lanky police chief possesses all that it takes to bring crimes to its barest minimum in the state: brains, intelligence, experience as well as strategy. Indeed, since he took over the reins of policing the state from the ex- Commissioner of Police, in 2019, he has been a thorn in the flesh of the undisciplined elements in the state, while also ensuring peace and security of lives in the state. The Ogun State born super cop, who shares in the vision of the state governor, Babajide Sanwoolu, to stamp out crimes from the state, is one of the quintessential law enforcement officers in the country, having proven the stuff he is made of with handling of high-profile police assignments
across the country. Beyond this, what many don’t know about the well -educated policeman is his act of generosity, which our source described as rare among his contemporaries in the Police Force. “In fact, his love for humanity is almost second to none, ’’ a source disclosed. Society Watch gathered that the graduate of English Language from the Ahmadu Bello University, Zaria has been at the forefront of philanthropy, but loathes making noise about it, believing that “If you want to help the needy, leave your camera at home”. Our source hinted that in line with his wonted fellow-feeling and abiding commitment to helping the needy, he singlehandedly fed thousands of prisoners across the state during the yuletide.
THISDAY, THE SUNDAY NEWSPAPER ˾ JANUARY 17, 2021
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MILESTONE
Alaafin’s 50 Years of Staying the Course Celebrating 50 years on the throne after surviving many battles, has shown that Oba Lamidi Adeyemi is a cat with nine lives, writes Kemi Olaitan
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his past week, the Alaafin of Oyo, Oba Lamidi Olayiwola Adeyemi 111, celebrated his 50 years on the throne thus becoming the longest reigning Alaafin in the history of the ancient town. He was given his staff of office on Thursday, January 14, 1971, by the then Military Governor of Western State, Brigadier Robert Adeyinka Adebayo. No Alaafin has celebrated 50 years on the throne as the nearest was Alaafin Siyanbola Onikepe Oladigbolu, who reigned from 1911 to 1944, while Alaafin Adeniran Adeyemi II, the father of the present Alaafin only ruled from 1945 to 1955. Alaafin Atobatele Atugba reigned between 1837 and 1859, Alaafin Alowolodu Adeyemi ruled from 1876 to 1905 while the shortest reign was that of Alaafin Amodo, who was on the throne only between 1833 and 1835. For the five decades Oba Adeyemi has been on the throne of his forefathers, his image has continued to loom large while making tangible and intangible impacts, which the ancient town, Yorubaland and indeed Nigeria as a whole will find difficult to forget. It certainly could not have been different as he was born into royalty. His father while preparing him for the future ensured that he did not live with him but rather sent him out to live with prominent Nigerians within the Yorubaland. Oba Adeyemi has seen the entrance and exit of 21 governors, namely, Major General Adeyinka Adebayo (August 1966 – April 1971), Brigadier General Christopher Oluwole Rotimi (April 1, 1971 – July 1975), Admiral Akintunde Akinyooye Aduwo (July 1975 – August 1975), Colonel David Medayese Jemibewon (March 1976 – July 1978), Colonel Paul Tarfa (July 1978 -October 1979), Chief Bola Ige (October 1, 1979 – October 1, 1983), and Dr. Victor Omololu Olunloyo (October 1, 1983 – December 31, 1983). Also, Lt. Col. Oladayo Popoola (January 4, 1984 – September 1985), Col. Adetunji Idowu Olurin (September 1985 – July 1988), Col. Sasaenia Oresanya (July 27, 1988 – August 1990), Col. Abdulkareem Adisa (September 1990 – January 1992), Chief Kolapo Olawuyi Ishola (January 2, 1992 – November 17, 1993), Navy Capt. Adetoye Oyetola Sode (December 9, 1993 – September 14, 1994), and Col. Chinyere Ike Nwosu (September 14, 1994 – August 22, 1996). Other governors of the State comprised Col. Ahmed Usman (August 22, 1996 – August 1998), Comm. Pol. Amen Edore Oyakhire (August 16, 1998 – May 28, 1999), Alhaji Lam Adesina (May 29, 1999 – May 28, 2003), Senator Rashidi Adewolu Ladoja (May 29, 2003 – May 28, 2007; he was impeached in January 2006 but got reinstated in December 2006), Chief Adebayo Alao-Akala (January 12, 2006 – December 2006; and May 29, 2007 – May 29, 2011), Senator Abiola Ajimobi (May 29, 2011 – May 29, 2019) and Mr. Oluseyi Abiodun Makinde, who was four years old when he ascended the throne (May 29, 2019 till present – he is the incumbent governor). A no-nonsense traditional ruler loved and hated, whatever the case may be, Oba Adeyemi can only be described from the angle one looks at him. One writer once described him thus, “To beat him on debate floor, you must be tough intellectually. To defeat him in the boxing ring, the opponent must be prepared to absorb many of his double fists jabs. There is much to say about Ikubabayeye.” Not shy to fight for what he believes is his right, the first class royal father has engaged in many battles leaving many wondering where he derives his strength. One of such is his often insistence that the Alaafin must be the Permanent Chairman of the state Council of Obas and Chiefs. From Western State, old Oyo State to the present Oyo State, Oba Adeyemi would not care to fight any government that would not accede to this. During the present political dispensation, the monarch had it rough under the administration of Otunba Adebayo Alao-Akala despite the fact that they started on a good note. At the beginning, the relationship between them was so cordial. Indeed, the governor did not hide his favouritism for the Alaafin as the Permanent Chairman of the Council of Obas and Chiefs, probably knowing the political influence the monarch wields in the state, he handled the issue with utmost caution. The cordial relationship between the monarch and the then governor was so much that there was hardly any event that Alao-Akala went that Alaafin was not present. Oba Adeyemi was seen many times at the Governor’s Office to give royal backing to the governor such that at the end of the day Otunba Alao-Akala inaugurated the monarch as the Permanent Chairman of the Council. Oba Adeyemi in his speech at the occasion of the inauguration and expansion of the Council held at the House of Chiefs, Parlianment Building, Agodi, Ibadan, said, “ I must add that the two last regimes of Alhaji Lam Adesina and Rashidi Ladoja also had the privilege to do what we are witnessing today, but they opted not to act. “In January 2008, through a letter APO13/VOL.57/32, dated January 31, 2008, I also send a letter on the enlargement of the council to the sitting governor, where I repeated my previous position and the need for the entire 33 local government areas in the state to have representation in the council. “I also went ahead to tell the governor of the sad turn of events in Oyo Sstate as some Obas in the state have continued to fight over irrelevant seniority issue, while our brother Obas in the neighbouring Osun State had gone far in
Alaafin...50 years on the throne perfecting a seemingly workable and smooth system. “I told the governor that the 19 member council hitherto in place could not serve the interest of our people. I went the whole hog to recommend those who should be in the council both on permanent basis and those who should rotate. Happily, the governor acceded to our request leading to today’s event.” This was not to last as towards the tail end of the administration, the relationship became that of cat and mouse with the monarch raising the alarm that the governor wanted to kill him, which was eventually dismissed by the police and Otunba Alao-Akala. The climax was with less than a month to leave office, Alao-Akala, announced that the Alaafin was no longer Permanent Chairman of the Council of Obas and Chiefs in the state. The state government through the House of Assembly passed a law that introduced rotation of the office of Chairman between the Alaafin and his two rivals, the Olubadan of Ibadanland and the Soun of Ogbomoso. At that time, many people believed that the measure was in response to the Oba Adeyemi’s support for the Action Congress of Nigeria (ACN) during the April 2011 elections against the then ruling Peoples Democratic Party (PDP) with the governor gunning for a second term. Besides fighting for his right, the Alaafin is one monarch who is not afraid to air his views on developments in the country. While he writes letters to those in power, Oba Adeyemi also speaks out at any time for those in government to do what is right. While speaking at the launch of a book by the Nigerian Tribune titled, “70 Years of Progressive Journalism”, at the International Conference Centre, University of Ibadan, in December 2019, he raised the alarm that Yorubaland was in danger and decried governance collapse in the country. He said, “Today in Zamfara and Yobe States, the governments are now subjected to banditry. And they are encouraging these bandits, giving them money. How can government give bandits money? That is a collapse of governance and government. If you are a student of constitution, you must believe Awolowo’s views. Well, I am not a politician but I understand politics. I don’t do partisan politics, because I want to be progressive. “In the entire Nigeria, when Awolowo started his free
primary education, we felt it would not work. He started it. He came out with the position that in the next 30 to 40 years, the Western Region will be 60 years ahead of other areas in education. If you pass out of primary school, you go to Teacher Training College and if you pass out, you would be given automatic admission to university. That was the reason they established the University of Ife (now Obafemi Awolowo University.) “Now our graduates are roaming the streets. There is no index of people who are out of school. Just three days ago, Governor Abdullahi Ganduje said Kano had the largest number of out-of-school children. How can we have stability in the country, when half of the country is governed by illiterates? Banditry has taken over the governance. Surely, there cannot be peace in the country. “You said you have technically defeated Boko Haram. What is the technicality in defeat? Either we agree we have not been able to subdue them and admit it. Now, they are quoting United Nations figures for us and our government is telling them we are not under America or United Kingdom but we are going there to take loan. Surely, something must be done to take a cue from Chief Obafemi Awolowo. If he was not an angel, then, he must be on the right side of God.” Similarly, when the 8th National Assembly through the Senate introduced the Hate Speech Bill, code-named the National Commission for the Prohibition of Hate Speech Bill 2019, seeking death penalty for anyone found guilty of any form of hate speech that results in the death of another person, Oba Adeyemi was one of those who came out to challenge the lawmakers. The monarch challenged lawyers and other professionals to shoot down the bill, describing the death penalty as too harsh a punishment for abuse. According to him, “If I have not killed anyone and I give an opinion that is contrary to the government’s, will it be sufficient reason for me to be hanged? Where are the lawyers in Nigeria? Can’t they speak up? Nobody is speaking up. If you don’t want to be criticised, then, you don’t have to be in government.” With agility of a younger fellow, one cannot but pray that long may Oba Lamidi Adeyemi reign and to continue to be relevant in all of his interventions.
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PERSPECTIVE
The Next President of Nigeria John Paul
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vents recently unfolding in one of the world’s oldest and unarguably, most stable democratic nation drive home the fundamental leadership roles in evolutional development of any country. It calls for critical evaluation of individual persona with recourse to a given task. For the first time in history, United States’ post-election turmoil almost imperiled its democracy save for the well- entrenched institutions and a healthy dose of ideologically-oriented and nationalistically-inclined actors. A commentator, Angela Rye in an interview concluded that, a prejudiced consideration fueled rabid determination to annihilate any affiliation to the Obama presidency that political actors and agents overlooked requisite background checks and available records of his replacement. This discretional inability bequeathed Donald Trump to America and with him, the consequences of Trumpism on American Presidency, America’s global rank and America’s unity and coercion. The kind of 2016 election incaution which ushered Trump into the white house is an inflexible bane across some other countries of the world, especially Nigeria. As a country, Nigeria has been unlucky with transformational leadership at the topmost echelon and for this reason, most Presidents and administrations barely settle to work before their incompetence, vague vision and inadequate strategy manifests. Since ever, the natural reaction has been to seek replacements without due thought for the quality of such replacement. At best, replacements are mostly considered in ethnic and religious stead to the detriment of records, competence, character and capacity- the central thrust of this piece. Meanwhile, the question as to the attributes and expectations from the next President of Nigeria is beyond necessitation, an imperative determinant factor sin-qua-non to economic emancipation, social etiquette and political reform. It inadvertently bears a strategic template critical to resonating the country’s decaying system. For decades, Nigeria continued to see the rise and fall of hope for a country of our dreams and one impoverished by sheer lack of leadership capacity and disadvantaged by the declining inability of the public to set standards for its onboarded and onboarding leaders. This state-of- affairs portray and portend fundamental challenges to upsetting our current inertia, unlocking our enterprise spirits and setting the country on the path to impacting the world economically and socio-politically. Nigeria is a household name. As the largest in Africa and regrettably the 30th largest economy in the world, its potentially gigantic economy is widely recognized along a line of great significances that only an excellent leadership can unlock. Yet, a trait of declining economy and social instability undermining developments has been Nigeria’s common feature, a situation which is not limited to particular tenurial leadership or regime but resonates around and along our faulty or non-existent recruitment process. It was bad leadership that shifted Nigeria’s focus to oil revenue from being agriculture-dependent nation. Consequently, the fluctuating crude oil prices in the market among
Remember, Singapore as we know it today was not like this. In the 1960s, there was racial tension that led to several destructions and countless fatalities; the economy was in comatose and unstable and without natural resources, high unemployment and huge housing deficit. In the midst of all these, Singapore had to decide its own fate and today, it sits in the comity of the most developed countries in the world. Leadership made all the differences
Buhari other factors consistently flops visioning efforts at stabilizing the country’s economic mainstream, thereby portending it as victims of monolithic economy. Analysts had for umpteenth time forecast downturns, and there seems to be no end in sight. According to the United state Aid for International development- USAID (September 22, 2020), Nigeria’s economic potential is constrained by ‘structural issues’ such as, inadequate infrastructure, tariff and non-tariff barriers to trade, obstacles to investment, lack of confidence in currency evaluation, and limited foreign exchange capacity. Financial Times UK in a December 22, 2020 editorial also described Nigeria as “close to becoming a failed state” sighting an economy plagued with terrorism, illiteracy, poverty, banditry, and kidnapping. Evolving thesis from assertions therein, Nigeria’s extant challenges are apparently caused by ineffective leadership. Other attributable factors include unemployment, inflation, government/monetary policies, etc. Apparently, a replete of cluelessness, parochial, uninspiring, attitudinal debauchery and selfishness forms the kernel to which ineffective leadership marred development in Nigeria. Lack of transparency to critical financial and other information key to economic development, accountability, absence of political will, overbearing political interest, looting and diversion of public funds, and lack of projectable economic foresights, gave rise to corruption and corrupt practices in the country, leaving behind infrastructural decay, insecurity, low power supply and investment drive. However, the mendacious effect of the country’s security upheavals is so manifesting. It left many believing the country is too big to be governed by one man, putting the thresholds at the mercy of diverse ethnic interests. Nigeria’s slacked security architecture is because of bad governance, unemployment, poverty, inequitable distribution of national wealth and illiteracy. At the moment, Nigeria harbors the world’s second most deadly terrorist groups-Boko-Haram insurgency (global terrorism index 2019), among its variables such as Bandits and kidnappers. As a matter of fact, the rising insecurity poises emergent threats to National continuity, unless crucial checkmate measures are put in place. And while billions of Naira is lost daily to Boko-haram attacks, the perplexing tension of bandits and kidnappers held the economy to ransom. Moreover, it transcends beyond crime, hunger holds sway. The cost of living is high due to inflationary measures and demand compendium. Statistics shows a very high percentage of Nigerian populations living below minimum of dietary energy consumption (amount of food that should be taken in order to sustain energy). But then, this piece does not dwell on these challenges or the causes, it focuses only on an ambience of revival remedy which is sacrosanct, as stipulated by financial time UK. Remember, Singapore as we know it today was not like this. In the 1960s, there was racial tension that led to several destructions and countless fatalities; the economy was in comatose and unstable and without natural resources, high unemployment and huge housing deficit. In the midst of all these, Singapore had to decide its own fate and today, it sits in the comity of the most developed countries in the world. Leadership made all the differences. There is this anecdote in the British Navy that says, “Anyone can captain a ship when it is sitting safe in the harbor but out at sea, where things get dangerous, you need a real leader”. Nigeria is currently at sea and things are dangerous and requiring a leadership that can plough through the prevailing realities to make something useful out of almost nothing. Having said
this, we must look forward to the leadership that can overcome Nigeria’s lingering socioeconomic and political hiccups from what they know, what they do and what they are. To bring to a halt, a starring and glaring security upheaval in the country, true leadership serves right. We need true leadership to strengthen institutions and rejig relevant anti-graft agencies so as to wind down the menacing corruption and its practices. To move from where we are to where we want to be, we need a leader who will stay and act true to a course; a leader chosen by the people, from the people, and for the people as inscribed in the concept of democracy. True leader who will act with integrity and in doing so, establish public trust. True leader who will genuinely value the people by transitioning power to authority. A leader infatuated with assisting the citizenry realize their full potentials by inspiring excellence and rewarding creativity. As the next election cycle beckons, it is time to rise from the boredom vicinity of perpetual complaints, bitterness, and dislocations and confront head on, the numerous cankerworms eating deep into our National socioeconomic and political fabrics. It is time to collectively sieve-out strategic templates that cushions developmental quagmires plunging the entire nation to the abyss. We must unite to collectively saddle Nigeria’s next proclivity on a pathfinder literarily certified on character, competent and capacity to contextualize necessary pathways of National prosperity. And to achieve this, we must be religiously committed to setting a template for the next Nigerian President from both personal attribute and the strategic planning ends. One is unsure if the emerging reality will be patterned in a manner that will accommodate the required attributes considering that the various political platforms are visibly hesitant to leave their unproductive “comfort zones”. Nonetheless, one must take-on the power of the plebiscite’s presumed destiny and find the defiance required to initiate and sustain the gradations necessary to bring about the required leader and leadership. Of course, there is the problem of lack of ideology as has been seen with the ease with which major beneficiaries of erstwhile political marriages abruptly switch beds based on projection that do not regard quality and which do not see beyond one electoral cycle; such alliances and partnerships have brought us this low and we cannot continue this way and expect a change of fortune as a people and as a country. We must, irrespective of position of engagement, social status or religious affiliation, properly situate our desires to the extent our interest must be subordinate to the far-reaching nationalistic and futuristic interest. This way, we would have unlearned our false realities and accepted the facts of the status quo with a view to not resist change owing to the fear of the unknown. In the words of Ellen Johnson Sirleaf, “Africa is not poor, it is poorly managed” and it follows logically to conclude that for Nigeria to shed the toga of the world’s poverty capital, it is incumbent that the next president must be one who knows the way, goes the way and who has the emotional intelligence, acuity and acumen to show others the way Unfortunately, we have all reduced the choosing our leaders especially, the President to a political party, and lately, ethnoreligious contest which are an antithesis to the realization of the Nigeria we seek. Not a few talk about availing support based on verifiable achievements, track- record, and other grounded and tested leadership rubrics including a roadmap or an audacious but implementable manifesto. We must be concerned about the existing realities of our country, the origin of the decay we see everywhere, the palpable poverty in our societies, the system that produces and sustains the status-quo as well as the philosophy that sustains the entire ecosystem. Put differently, there is seemingly a major way to achieve the desired turnaround, a shift or a complete change in trajectory that will make us fall in love with the flower as well as the roots so that when autumn comes, we shall not be bereft of the ideas of what is required. Nothing resonates more than the reality of those that fail to recognize this hiatus which is destroying value through ego or dogmatic dispositions that foist charlatans and sustains the impending disaster. Never has the Nigerian State seen such a chasm between and amongst its citizens, a disparity amplified by poverty and the explosive and unexplained wealth of certain individuals who a few months ago belonged to the class of the extremely impoverished. And the fallout has been the oppressed loathing themselves and amazingly comfortable attacking, denigrating and tyrannizing the oppressed like themselves and in the process disparaging any prime attribute professed and promoted with a view to getting our leadership enlistment parameters correctly. In the final analysis, it does not matter what the path is, the key to success is adapting to the needs of the future and making the necessary change to survive chaperoned by someone who knows the what, the why, the how and the why not. The alternative is that Nigeria will become a mantle in a museum that will talk about the wasted past akin to that of the “dinosaurs that were left behind.” –––John Paul (Believer of a New Nigeria) Pauljohnk5@ gmail.com.
ARTS & REVIEW A
PUBLICATION
17.01.2021
HOPE, OMOOBA SHYLLON SEES, IN THE SIGNS OF THE TIMES Cover continued on Page 66-67 Shyllon
EDITOR OKECHUKWU UWAEZUOKE/ okechukwu.uwaezuoke@thisdaylive.com
T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ JANUARY 17, 2021
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HOPE, OMOOBA SHYLLON SEES, IN THE SIGNS OF THE TIMES For Africa’s leading renowned art collector Omooba Yemisi Shyllon, it’s not all gloom and doom in the visual arts scene. The future glimmers with opportunities and promise, he tells Okechukwu Uwaezuoke
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ere is the first rule before Omooba Yemisi Shyllon’s stately presence: the interviewer, poised with his pen and notebook, must have his wits about him. Otherwise, chances are that he risked losing the thread of this conversation. For it is the portly 68-yearold’s stock in trade to be both eclectic and encyclopaedic in his discussion of any subject matter. True, his renown as Nigeria's – if not Africa’s – leading art patron may be more often talked about in the media. Still, his polymathic credentials – burnished by his membership of the Nigerian Bar Association as well as his being a fellow of such professional bodies as the National Institute of Marketing of Nigeria, Institute of Directors- Nigeria, Nigerian Institute of Management, Chartered Institute of Stock Brokers, Nigerian Society of Engineers and the Chartered Institute of Marketing of the UK – tend to assert themselves in the course of a prolonged conversation. It is not surprising, therefore, that the Abeokuta prince, who held court from his seat behind a large desk facing the camera and his interviewer that sunny afternoon, looked more cerebral than regal in his blue-tinted rimless spectacles and coffeecoloured native dress and green fez cap. As for the paintings and sculptures behind him, they were eloquent testimonies of his decades-long passion for collecting art. Ditto the large art-suffused office and OYASAF premises, located in the choicest residential section of the Lagos mainland neighbourhood, Maryland. OYASAF? That’s the often-used acronym for Omooba Yemisi Adedoyin Shyllon Art Foundation, a Lagos-based non-profit organisation which the art collector established in 2007. The foundation, which is basically an extension of Shyllon's penchant for art, has been assiduously seeking to promote the appreciation and study of Nigerian art and artists wherever they may be found globally. For besides regularly organising art exhibitions and public lectures on arts and culture, it annually hosts and sponsors artists, scholars, curators and art historians from outside Nigeria. The beneficiaries of this annual fellowship programme – numbering 17 so far – were drawn from the US, Germany, Switzerland, Austria, South Africa, Kenya and Ghana. Among OYASAF’s many landmark legacies are the nowrested annual art entrepreneurship workshop in collaboration with the University of Lagos, the endowment of The Yemisi Shyllon Professorial Chair at the University of Port Harcourt, the donation of life-sized sculptures to such public spaces as the Freedom Park in Lagos Island, the University of Lagos and the University of Ibadan as well as the publication of two books and an art journal. More recently, about a thousand artworks from its collection were donated to the Yemisi Museum of Art at the Pan-Atlantic University in Ibeju-Lekki, Lagos, which won the Apollo Magazine’s Museum Opening of The Year 2020. Back to the interview, Omooba Shyllon was arguing that the world, which had the benefit of hindsight from historical antecedents, ought not to have been caught “pants down” by the COVID-19 pandemic. That was only a preface to his answer to a question bordering on the significance of these times for the visual arts sector. Hadn’t it indeed been a significant time for the creative industry! Things surely would no longer continue in the same familiar old ways. New ways had to be devised to keep the creative mills turning. As part of these new ways, Shyllon identified the production process of artworks as well as their sales and publicity.
OYASAF premises in Maryland, Lagos Talking about production, the fact that “artists now have more time to work” – as he observed – paves the way to an added impetus to sourcing newer art materials. The production process has, in other words, become more pliant in deference to these dire times. During the lockdown, not a few artists could have been constrained by their inability to access conventional art materials. For sales and publicity, activities seem to have shifted to virtual platforms. Shyllon noted that, because physical exhibitions have been largely curtailed, the social media in particular and the internet, in general, have provided opportunities for artists to interact with their collectors. Leading local and international art auctions were also known to have been held online last year. For the artists, this implies cheaper ways and more effective ways to publicise their work. Even gallery exhibitions, some of which were online, have been better publicised during this period. Meanwhile, so much seems to be hurtling downhill with horrifying speed and many untapped potentials in the visual arts scene still lurk in the fringes of the industry’s consciousness. These untapped potentials, Shyllon added, could be found both in the secondary and post-secondary schools. An example was a 21-year-old Osun State-born artist, Isaac Adedokun Oyedele, whose ballpoint drawing of the US President Donald Trump went viral. The drawing eventually caught the attention of President Trump, who described him as a “wonderful artist” and urged him not to give up on his dreams. “Not only did I see it @ Doks_Art, I think it is fantastic. You are a wonderful artist, never
give up your dream!” Trump tweeted. Also, it is doubtful if there is still any credible artist in the Lagos art scene, who hasn’t heard about Shyllon. Besides the fact that his OYASAF is hyperactive on the social media, the art collector follows virtually every artist – both upcoming and established – on Instagram. His passion for collecting art, he’d often corroborated in different interviews, has since grown to become an obsession. He even constructed new storage facilities beside a recreational area behind his residence to house his newer collections. And to imagine that this was a predilection he traces back to the late 1970s, during his undergraduate years at the University of Ibadan! Recognised in 2016 as Africa’s largest collector, he ranks among the world’s top 100 art collectors. Now, it began to make sense why he would root so much for unearthing untapped potentials that he collaborated with Professor Peju Layiwola to organise annual art workshops at the University of Lagos. This also explains why he remains an ardent fan of the bi-annually-held Harmattan Workshop at the Delta State town of Agbarha-Otor. Then, there was this highwattage idea of his: lock up artists as housemates à la Big Brother Naija reality show, provide them with materials and imagine the outstanding result. A longtime advocate of art as a stimulus for tourism, he decried the fact that the authorities were yet to fully tap into this potential goldmine.
ART-ICLES
MCSN Approved as Collecting Society for Musical Works Yinka Olatunbosun
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he Nigerian Copyright Commission (NCC) has granted to the Musical Copyright Society Nigeria Ltd/Gte (MCSN) the renewal of its licence to continue to operate as a Collective Management Organisation (CMO) in accordance with the provisions of the Copyright Act, Cap C.28 Laws of the Federation of Nigeria 2004 and the Copyright (Collective Management Organisation) Regulations 2007. The renewal of MCSN’s approval to continue to operate as a CMO
or collecting society for musical works and sound recordings was conveyed by a letter dated 22nd December 2020 from the NCC. It was reported that certain powerful user organisations which rely heavily on the exploitation of copyright materials, particularly musical works and sound recordings are refusing to respect the laws of copyright in Nigeria or pay appropriate copyright royalties and fees. With the renewal of MCSN’s approval or license to operate as a CMO in addition to its being the largest owner, assignee and exclusive licensee of copyright in musical works and sound recordings within the provisions of the relevant sections of the Copyright Act 2004 as interpreted and affirmed by the Supreme Court of Nigeria,
Nigerian creators of intellectual property and their counterparts around the world are full of expectations of great rewards for their creativity coming out of Nigeria. On its part, the NCC has given assurances that anyone exploiting copyright protected works in any form prescribed by the laws is made to fully comply with the law by obtaining and paying adequate compensation for the exploited works or rights. The Commission also assures that no rogue CMO would be allowed any space within the Nigerian copyright system. Reacting to the development, MCSN expresses its deep appreciation to the Director General of the NCC, Mr. John Ohi
Asein, the Governing Board, Management and entire staff of the Commission for the grant of the renewal of its approval to operate as a CMO and the assurances given by the NCC for a transformed copyright landscape to create prosperity for owners and holders of copyright and other stakeholders. MCSN has thrown its doors wide open for all creators of musical works, sound recordings and other genres of copyright interests for a robust and harmonious engagement for the realisation of the greater goal of creating prosperity for all creatives. MCSN assures everyone in the sector, both creators and users, that there would be a fair deal for all.
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THROUGHART,DAMILOLAOPEDUN SERVES TRUE HUMANITY From his recently-opened new art space in a Lagos mainland neighbourhood, talented Lagos-based artist Damilola Opedun hopes to launch a moral revolution. Okechukwu Uwaezuoke reports
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STTV Studio 2, Damilola Moses Opedun named the studio space, which was officially opened yesterday (on Saturday, January 16). TSTTV? It is the abbreviation of The Seed of The True Vine, a non-profit organisation that that focuses on the welfare and education of slum-dwelling children. The space, acquired since July 22 last year, is located along Ajayi Aina Street in the Lagos mainland neighbourhood of Gbagada. “ [It is] very close to the Deeper Life Church headquarters,” explains Opedun, who says he owes it all to the help of the Almighty and the largesse of Kolapo Olaleye, a man he calls his role model in the Christian faith. “We hope in this new year to build a wooden structure in Makoko for the children and that will be the studio One to enable us have more impact on the community in the area of education and poverty alleviation.” Talking about the stilt town Makoko, Opedun is convinced that he had been given a “divine assignment” to impart on the slum community. Hence, his regular visits to the Lagoon-based shanty since January 2015. From that time till date, he had consistently held regular art classes for its children with the hope of transforming their minds and lives through art and the precepts of the Holy Scriptures. These art classes, which initially A section of the TSTTV studio vising his son, who was about to sit for a university were as many as thrice weekly, soon tapered off to entrance examination, on how to use the answers to just once a week – on Saturdays – when he got marthe leaked examination questions he had bought for ried on Saturday, April 25 that year. him. “That was the day I understood the problem of Months before these classes could take off officially, our country,” he says. “It is the corrupt family unit precisely in September 2014, Opedun had visited the and bad upbringing of children that has led to the community’s elders to seek their consent so to speak. decadence we see in our society today. He had arrived this floating slum, where he hoped to “Since that day, I vowed to dedicate my life in the impact on its residents through art, equipped with his service of building good moral values in anybody palette, brushes and a clear vision. When he eventuI come in contact with, especially those within my ally got the nod of the elders – after their probable sphere of influence. This has since earned me the discrete investigations – he was set for his mission. nickname ‘pastor ’ among my peers. So, when the “This vision has now become a thriving NGO that students came, I saw an opportunity not only to continues to be a blessing to the not-so-privileged train them in the arts, but also an opportunity to children living in this slum,” he enthuses. positively change Nigeria within my sphere. This Besides the NGO, which was named The Seed of free training of higher institution, students, students True Vine Foundation, he also developed a body of from orphanages and the talented children of my works he titled “Makovenice”. This title was derived neighbours has continued from 2016 till date.” from the prefixing of the northeastern Italian city of It was also during the NYSC programme that the Venice with the first two syllables of the community’s 2010 Auchi Polytechnic graduate met the inspiraname. “I was inspired to create this body of work, tional artist Sam Ovraiti. It was Ovraiti, who first which unearths the diamond in the rough of an drew his ignited his interest in the power of art. almost discarded land,” the artist says about the body Subsequently, he began to see the links between of works. “[I also want] to show the beautiful side to art and spirituality after he watched the American the famous ‘slum’ and to become a voice for them, a singer and actress Beyonce Knowles-Carter in a bridge between them and the intellectual world, to YouTube video talk on an Oprah Winfrey Show give them the deserved attention and assistance.” about the help she gets from a spiritual being, called Then, in 2016, a group of starry-eyed students Sasha Fierce. Added to this were the inspirations he from the Yaba College of Technology’s art departgot from many quotes of the – credited to prominent ment came calling at his residence, soliciting for an people – bordering on the supremacy of spirituality internship programme in his studio. These students, over tangible dealings. who he recalled were about six in number, claimed Opedun deems himself lucky to have been brought that they were inspired by keenly watching him on up by parents, who not only recognised his talents social media. “They were so certain that I would be of but also encouraged his childhood dreams of becomblessing to them if I accept them.” ing an artist. “They both made sure I lacked no art Opedun gladly welcomed these young acolytes, materials and encouraged me to pursue my desire of with whom he started working in earnest in a small becoming a professional artist,” he recalls. compound at 10, Olufeyisan Street in the Lagos Lingering doubts about art being his calling were Lagoon-front neighbourhood Oworonsoki. dispelled after his primary and secondary school Flashback to his National Youth Service Corps education in Ibadan. So, it surprised no one that he year. He was living with this family in 2011, in whose was enrolled at the Auchi Polytechnic, where he house he had a first-hand experience of a corrupt eventually became the best graduating student at the family unit. He overheard the father of the house ad-
Opedun
in 2010. It was during his post-graduation years that he developed a predilection for the soft pastel medium, which earned him an award the Pastel Society of America’s annual juried exhibition. But, he would later adopt the oil paint medium as his number one choice because of the limitations of the pastel medium. The oil paint medium, he discloses, allows him an unhindered expression. A regular in the local exhibition circuit, the 37-year-old has been a part of the Mydrim Gallery’s annual The Generation: Future Masters Series art exhibition right from its inception. He was featured in October 2015, as an “Up and Coming Nigerian Pastelist”, in a website: www.howtopastel.com, run by one Gail Sibley and one of his paintings appeared in a popular French art magazine. Two years later, he participated in the juried 45th annual exhibition of The Pastel Society of America, where his work won The Jack Richeson & Co. Silver Award.
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JA Ϳ˜ ͺͺͯ ˾ THISDAY, THE SUNDAY NEWSPAPER
INTERNATIONAL Ohanaeze Ndigbo and Nigeria’s Foreign Policy, 1960-2020: Professor George Obiozor’s New Leeway
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hanaeze Ndigbo is the association of all Igbo socio-cultural groups at home and abroad. In terms of foreign policy concentricism, the association is the epicentre. In terms of vertical relationships, it is the apex organisation. As the organisation at the crescendo, emphasis is generally placed on uniting all Igbo sociocultural groups to seek protection of their community interests in Nigeria where it is strongly believed that they have been marginalised in the political governance of Nigeria. The Ohanaeze Ndigbo, established in 1976 as a non-political party, comprises the five Igbo States (Imo, Anambra, Enugu, Ebonyi and Abia) and the indigenous communities in Rivers, Delta, Cross River, Akwa Ibom, Kogi and Benue States. Apart from the main objective of unifying all Igbo people, emphasis is also placed on rapid economic growth and development of Igbo land. Under the umbrella of the Ohanaeze Ndigbo are the World Igbo Summit Group (WISG), established in 2006, the Indigenous People of Biafra (IPOB), Igbo Leadership Development Foundation, etc. And true enough, many Igbo people in the Diaspora fund several development projects back home. Their language, also called Igbo, is spoken in many countries where the population of Igbo indigenes is also important. These countries include Cameroun, Barbados, Belize, and Trinidad and Tobago. What is particularly noteworthy about the Ohanaeze Ndigbo is that its members have been actively engaged in the political governance at different levels, but are not happy that there has not been an elected Igbo person as president. For instance, Dr. John Nwodo, the immediate past President General of the Ohanaeze Ndigbo, told his successors, led by Professor George Obiozor, in his valedictory speech in Owerri, the Imo State capital, that the Obiozor administration must remain committed to the ‘radical re-visitation to the constitutional structure of Nigeria imposed on the country by the military.’ He put it differently thus: one of the first things his own administration addressed while in office was ‘the skewed political structure of Nigeria which left Ndigbo... with the lowest number of States and Local Governments in the Federation. Because of this, we got the lowest allocation of federally-collected revenues.’ And perhaps more significantly, ‘this situation has also jaundiced our states and local governments financially and prevented them from embarking on more developmental efforts than they are doing now.’ The nature of the challenges before Professor Obiozor cannot but therefore be tasking. In this regard, how does Professor Obiozor go about his mandate as a diplomatic scholar? In which way can he impact on the polity and bring succour to the Igbo communities around the world? We will address the matter from a foreign policy perspective.
NdigboandForeignPolicy
The involvement of the Igbos in Nigeria’s foreign policy processes has been quite interesting since 1960 for various reasons. First, who really was Nigeria’s first Foreign Minister? This question is necessary because Dr. Jaja Anucha Wachukwu, a royal prince of Ngwaland, is considered by many political and academic observers as Nigeria’s first Foreign Minister. For instance, Ambassador Victor Chibundu has written that Dr. Wachukwu was Nigeria’s first Foreign Minister. More recently, Dr. Wachukwu, who trained in the University of Dublin, Trinity College, the leading Irish university founded in 1592, was honoured by his alma mater and referred to again as Nigeria’s first Foreign Minister. These references are very misleading scholarly research purposes. True, Dr. Wachukwu was nominated to be the first Foreign Minister, but because of the disagreement arising from crisis of personality, Prime Minister Abubakar Tafawa Balewa refused to accept him for consideration as Foreign Minister in 1960. It was not until April 1961 that the various appeals to the Prime Minister began to receive consideration and that Dr. Wachukwu would become the Foreign Minister as from July 1961. The question in this regard is who was the Foreign Minister before Dr. Wachukwu assumed duty as Foreign Minister? Without whiff of doubt, Dr Wachukwu, born on January 1, 1918 and died on 7 November 1996, was very intelligent. He won many scholarships and prizes in schools and colleges. He had many firsts: the first Nigerian Speaker of the House of Representatives of Nigeria,1959-1960. He was the first Nigerian Ambassador and Permanent Representative to the United Nations. But he was
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e-mail: bolyttag@yahoo.com
Prof. Obiozor not the first Foreign Minister of Nigeria. Alhaji Abubakar Tafawa Balewa, who considered Dr. Wachukwu as arrogant, was not only the Prime Minister, but also Nigeria’s first Foreign Minister. And true enough again, is the problem really that of arrogance? Jaja Wachukwu was a pan-Africanist, a statesman, a humanitarian, a lawyer who defended and saved Nelson Mandela from death penalty during the Rivonia Trial. The experiential knowledge and international exposure of Jaja Wachukwu probably made him to behave in a manner that gave the impression of arrogance, an arrogance that actually gave Nigeria her foundation of international concern and prestige. He was the one who argued in 1963 to the admiration of everyone that Article 2 (7) of the United Nations Charter on non-intervention in affairs that fall under the domestic preserve of sovereign states could not apply to Nigeria simply because of the obnoxious policies of segregation and apartheid in Southern Africa. As argued by Jaja Wachukwu, apartheid could not be an exclusive domestic question of South Africa. In fact, Jaja Wachukwu came up with the policy of ‘no compromise with apartheid’ and the right of Nigeria to intervene in Togo in 1963, following the assassination of Sylvanus Olympio, who was considered a good and reliable friend of Nigeria. Thus, there is no disputing the fact that Dr. Jaja Wachukwu, as an Igbo man, has considerably impacted on Nigeria’s foreign policy. In the eyes of American diplomats, he was specially seen as a man of honour to whom respect must always be given. For instance, in a note written by Ambassador Owen W. Roberts, who was US political Officer to Nigeria in 1964-1965, Ambassador portrayed Roberts portrayed Dr. Wachukwu as a very strong personality: ‘Nigerians, whatever their tribe, are a very strong, very assertive group. Foreign Minister Jaja Wachukwu was a surprise for many American diplomats because he considered himself as having a status equivalent to the British, French, German, or Russian Ministers. Wachukwu demanded that attention and respect... Senior US echelons weren’t used to dealing with Africans as assertive and as strong minded as the Nigerians were...Ambassador Mathews was not the kind of person to go in and tell Prime Minster Balewa or Foreign Minister Jaja Wachukwu how to do things...’ Consequently, the arrogance of Dr. Wachukwu should always be seen more in the context of Ndigbo contributions to nation-building, than in the context of an Indigbo arrogance. The arrogance is a challenge for the proponents
Promotion of Igbo language and culture cannot be a difficult challenge beyond seeking funding for provision of language training facilities. However, when we espy the foreign policy attitudinal dimensions, the issue of how Igbo leaders often behave can also be an impediment to the attainment of the aims and objectives of the Ohanaeze Ndigbo.The bastardisation and destruction of intellectual discipline at the NIIA by the Ike Nwachukwu-led Governing Council, by particularly forcefully protecting Igbo interest to the detriment of national interest, and to the extent of having to write direct letters to assessors of candidates for professorial appointments, breaching the rule of confidentiality, can only speak volumes. Also covering up acts of serious misconduct on ethnicgrounds cannot but remain a critical challenges before Professor Obiozor. Although the aims and objectives of the Ohanaeze Ndigbo are quite patriotic and commendable, their implementation must never be given any iota of Ike Nwachukwu character, especially if other Nigerians are to give their own patriotic support. We congratulate Professor George Obiozor for a well-deserved elevation
of white supremacy. Consequently, the point of essence is really not about the nitty-gritty of the contributions made by the Igbo people as part and parcel of the Ohanaeze Ndigbo, but the need to underscore the point that there have been many of them appointed as Foreign Ministers of Nigeria. With the observation made above that Jaja Wachukwu was not Nigeria’s first Foreign Minister, requires differentiating between and among three categories of Foreign Ministers: Minister of Foreign Affairs, Minister of State for Foreign Affairs, and Acting or supervisory Minister of Foreign Affairs in order to be able to appreciate the place of the Ohanaeze Ndigbo in the foreign policy processes, and particularly the challenges before Professor George Obiozor as the new President General of the Ohanaeze Ndigbo. The appellation, Minister of Foreign Affairs, generally refers to the substantive first diplomatic agent and representative of Nigeria outside of Nigeria. Any international issue or questions in which Nigeria is interested fall under his competence. Unlike a Minister of Foreign affairs, a Minister of State for Foreign Affairs has responsibility for specific questions and subjects to manage, such as international organisations (Commonwealth, African Union, etc). The difference between the two Ministers is at the level of the two prepositions: of and for. Even though Ministers of State have been given a full ministerial status and can participate in cabinet meetings in Nigeria, a Minister of State for Foreign Affairs cannot take priority before a Minister of Foreign Affairs in the comity of Foreign Ministers. Even when there are two Foreign Ministers, there must also be the first and the second. Explained differently, has Nigeria a Minister of Petroleum Resources under President Muhammadu Buhari (PMB) apart from himself? As at today, and since 2015, there is none. Nigeria has had a Minister of State operating under PMB as supervisory Minister of Petroleum Resources. This is the situational reality in Nigeria. With these clarifications, it should be noted that whenever there was no appointed Minister of Foreign Affairs, there was also someone acting that position. The specific case of Dr Martins Uhomoibhi, then Permanent Secretary, but became supervisor of the Foreign Ministry in the absence of a Minister for, or Minister of, Foreign Affairs, is a case in point. Consequently, in terms of Ministers of Foreign Affairs, there have been twenty-eight appointed Ministers of Foreign Affairs since 1960. The notion of Minister of Foreign Affairs is used here to cover both ‘Commissioner’, as used under the Yakubu Gowon for Okoi Arikpo or ‘external affairs’ as used in the time of Professor Bolaji Akinwande Akinyemi. Dr. Jaja Wachukwu was Nigeria’s second Foreign Minister but the first Igbo man to be so appointed. The second Igbo man to be so appointed was Chief Emeka Anyaoku who was briefly the Minister of Foreign Affairs in 1983. Major General Ike Nwachukwu was the third Igbo man to be so appointed. He was Foreign Minister two times: 1987-1989 and 1990-1993. He was followed by Ambassador Ignatius Olisemeka in 1998-1999. The Ohanaeze Ndigbo has only produced two women Foreign Ministers: Dr (Mrs) Ngozi Okonjo-Iweala in 2006 and Mrs Joy Ogwu, Professor of International Relations, in 2006-2007. The other two Ndigbo men appointed as Nigeria’s Foreign Ministers were the late Chief Ojo Maduekwe, 2007-2010 and Mr Geoffrey Onyeama from 2015 to date. This means that the Ohanaeze Ndigbo has produced Foreign Ministers nine times out of the twenty-eight times of opportunity that have existed. This represents 32.14%. If we remove the two cases of when Prime Minister Tafawa Balewa acted as Foreign Minister and when Dr. Martin Uhomoibhi supervised the Foreign Ministry, the percentage will be 34.61. The North has similarly produced Foreign Ministers nine times: Tafawa Balewa, 1960-1961; Nuhu Bamali, 1965-1966; Joseph Naven Garba, 1975-1978; Ibrahim Gambari, 1984-1985; Rilwanu Lukman,1989-1990; Baba Gana Kingibe, 1993-1995; Sule Lamido, 1993-2003; and Aminu Wali, 2013-2015. This observation does not factor in the fact that General Yakubu Gowon was his own Foreign Minister in 1966-1967 before the appointment of Okoi Arikpo as Commissioner for External Affairs. The Yoruba have only had four opportunities: Henry Adefowope,1978-1979; Bolaji Akinyemi, 1985-1987; Oluyemi Adeniji, 2003-2006; and Olugbenga Ashiru, 2011-2013, thus representing 14.28%. The rest, 17.44%, is shared by all other communities. Coming back specifically to Ohanaeze Ndigbo, their contributions in the foreign policy processes cannot be limited to ministerial levels. They have also been involved in other capacities and this brings us to the case of Professor Obiozor, who was not a Foreign Minister, but a diplomatic scholar, politician and diplomat and now an Ohanaeze activist.
Obiozor:WhichLeewayNow?
George Obiozor as an academic scholar, trained at the Institute of African Studies, Albert Schweitzer College, and graduated in 1969 from the University of Puget Sound, a private university affiliated with the United Methodist Church in Tacoma, Washington. He obtained his doctorate degree in International Relations from the University of Columbia and joined the Nigerian Institute of International Affairs (NIIA) as a Senior Research Fellow in 1984. He rose to become the Director General of the institution. Read full article online - www.thisdaylive.com
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Editor:Olawale Olaleye mail:wale.olaleye@thisdaylive.com, SMS: 08116759819
IN THE ARENA
Southeast governors briefing the media on the state of play
Weighing the Southeast ‘Amotekun’ After resolving the constitutional and conceptual fog surrounding the establishment of a regional security outfit, the Southeast governors have set forth. But, do related jitters and concerns here have merit? Louis Achi asks
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hen plucky governors of the Southwest geopolitical zone established Amotekun, a quasi-regional security outfit last year, after shrill opposition from the Northern-dominated federal government, some analysts forgivably might have assumed the coast was clear for others to follow suit. Recall that even the Attorney General of the Federation, Malami declared Amotekun an illegal child a few days after the Yoruba had held the naming ceremony. Now, the Southeast region, unsettled by same increasing security nightmare recently formed a joint security outfit to tackle the zone’s rising security challenges. But the nation’s history garbs both regions in different perceptual robes, a scenario which sits pretty nicely with drivers of the fluid political dynamics of a nation in the throes of uncertain change. In the face of significant national security failure, mere opposition to the establishment of regional security structures, though unconstitutionalised yet, accentuates the absurdity of operating a centralised police force in a presumptive federation. Last week, Governor David Umahi of Ebonyi State and chairman of South-East Governors Forum, proclaimed that governors and leaders of the zone have finally formed a joint security outfit to tackle security challenges. He spoke from his Umunaga Uburu country home in Ohaozara Local Government Area, after a related Security Council meeting, saying the name of the outfit would soon be announced. His words: “We have commenced the circulation of uniforms and vehicles to be used by the newly formed security outfit. Training and re-training of its personnel have commenced and we assure the people that all efforts are
being put in place to secure life and property.” Apparently, as the regional and even national insecurity spiraled, the South-Easterners, trailing the Southwest, urged their governors to save them from shadowy, violent intruders, who had made life miserable for them in their ancestral homes. Criminal elements attack their targets with unbelievable ease with little response from the police and other security agencies. The raiding of villages and communities by bandits and other armed gangs worsened and led to loss of many lives, farm produce and other assets. Perhaps, shaken out of their inaction, the regional governors under the chairmanship of the Ebonyi State governor, resolved to establish a security network for the region. But since the move was mooted, the Inspector General of Police (IGP), Mohammed Adamu, had striven to head it off and cage it – canvassing community policing instead. It appeared the Southeast governors were almost being seduced with IGP’s dodgy homily. Part of the deal was that the community members would be trained by the police to secure their areas. But the arrangement did not go down well with the people of the Southeast, who saw it as a subtle plot to divert the regional initiative and retain command and control of the new outfit from the backdoor. Even Ohanaeze kicked against subsuming the new security structure under federal police. The governors ultimately got the message. The Southeast regional governors’ move appears astute given that the crying regional security vacuum was, willynilly about to be filled with by a structure being created by the Indigenous Peoples of Biafra (IPOB) – so-called Eastern Security Network (ESN). But as IPOB is a proscribed organisation, it would be foolhardy to be seen to fraternise with it.
It could also be recalled that previous efforts to establish a joint regional security body for the region did not succeed due to the partisan dissonance in the ranks of the zone’s governors. Now, all this appears to be history. Another important dimension to this latest development must not be glossed over. Since, after the Civil War fought to stop the secession of Biafra ended 50 years ago, any issues associated with the zone often generate extra sensitivity. Today, the region is one of the most militarised in Nigeria while crime is ratcheting up. Against this background the body language of the governors or security modus operandi, or political signaling must deliberately not suggest that an embryonic republic is afoot. Those are the kind of gestures – whether real or imaginary – a jittery federal government is always on the lookout for. This is the difference between the Southeast and Southwest regions, notwithstanding that they are operating the same security template. More, although the state governors are assumed to be the chief security officers of their various states – in reality they are not. This amplifies the absurd fact that the current security architecture of the country is flawed – where Abuja calls the security shots. The governors are glorified chief security officers, who lack authority to a large extent. No governor can effectively give directives to his state Commissioner of Police especially, when the Commissioner has a counter view or different instruction from Abuja. This scenario rubbishes the entire so-called chief security officer insignia of governors. Also to tighten up any loose ends, the region’s state parliaments should enact requisite legislations to undergird the joint security structure. With this footing, Southeast’s ‘Amotekun’ can get cracking.
P O L I T I CA L N OT E S
O
Father Kukah
Kukah’s Safety Is Important!
ne of last week’s debates, which bordered on the safety of the Catholic Bishop of Sokoto Diocese, Matthew Kukah, should not have come up at all, if it were a different scenario. Kukah had accused the Jama’atu Nasril Islam (JNI), an umbrella body of Muslim groups, of inciting violence against him over the Christmas message. The situation soon assumed a new scale, when the Muslim Solidarity Forum (MSF) warned Kukah to “quickly and quietly leave” Sokoto, because Kukah’s “innuendos and parables” were against Islam and its adherents, and as such, provocative.
Although the presidency later waded in through a statement by Garba Shehu, President Muhammaadu Buhari’s spokesperson and asked that Kukah be left alone. “Under Nigeria’s Constitution, every citizen has the right to, among others, freedom of speech and expression, the right to own property and reside in any part of the country and the right to move freely without any inhibitions.” Even without the presidency’s intervention, Kukah’s basic rights shouldn’t be in contention, much less his safety. However, given the unceasing insecurity in different parts of the country, with the north leading the chart, Kukah’s safety, therefore, becomes sacrosanct and a priority for the government. This, it must ensure without reservations.
THISDAY, THE SUNDAY NEWSPAPER ˾ JANUARY 17, 2021
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BRIEFINGNOTES
Tasks Before Obiozor For Ambassador George Obiozor, the new President General of Ohanaeze Ndigbo, it is not going to be a tea party, writes Emmanuel Ugwu
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fter series of intrigues, scheming and even distractions from pseudo groups, the apex Igbo socio-cultural organisation, the Ohanaeze Ndigbo, successfully elected a new set of executives on Sunday, January 10, 2021. The election, which took place in Owerri, Imo State, led to the emergence of Ambassador George Obiozor as the new President General of Ohanaeze Ndigbo. He polled 304 votes as against 15 collected by his only challenger, Chief Valentine Oparaocha. The emergence of Obiozor as the new helmsman of Ohanaeze did not surprise observers of the Ohanaeze transition process. In the run up to the poll, it was quite glaring that Obiozor was the choice of the South East governors, who usually called the shots in such matters. The Governor of Imo State, Senator Hope Uzodinma, saw Obiozor’s candidacy, as a personal project and did not encounter any difficulty convincing the other governors to support his choice. After all, it was indeed the turn of Imo State to produce the Ohanaeze President General following the zoning principle, which has been strictly observed over the years. At the starting block in the race to succeed Chief John Nnia Nwodo, there were eight candidates – all from Imo. But the disagreements over the composition of the electoral committee headed by a former Ohanaeze president, Gary Igariwey and the perceived undue influence of the governors led some candidates to abandon the race at various stages. The three major contenders, Professor Chidi Osuagwu, Dr. Joe Nworgu and Dr. Chris Asoluka, were said to have changed their minds and did not bother to return their nomination forms. Other possible strong candidates, Goddy Uwazuruike, Chukwunyere Nwebo and Uju Okoro ran the race till the day of election before dropping out. It took this threesome a long time to measure their strengths against the favoured candidate of the powerful governors. Thus, the handwriting on the wall became very vivid to the candidates by the time they got very close to the ballot box. They had no other choice than to withdraw from the race and discontinue their challenge of Obiozor, leaving Chief Oparaocha as the only opponent standing. Perhaps, Oparaocha should have as well stood down and allowed Obiozor to be returned unopposed as the pattern of voting later proved. Obiozor polled 100 per cent votes cast by delegates from four out of the seven states that make up Ohanaeze Ndigbo. He cleared all the 47 votes from Abia, 53 from Ebonyi, 42 from Imo and 21 from Rivers while he dropped lone single vote from Anambra’s 42, Delta’s 18, Enugu’s 41. From Ohanaeze affiliate associations and Ohanaeze Diaspora delegates Obiozor received 43 votes leaving Oparaocha to pick just 12 votes. Having emerged as the leader to pilot the affairs of Ohanaeze over the next four years, Obiozor is expected to hit the ground running. Though arduous, the tasks before him are clearly cut out. As with the end of every contest, there must be winners and losers and Obiozor should not pretend that his emergence enjoyed the backing of the entire Igbo nation, which extends to Rivers and Delta States in the South-south geopolitical zone. He should therefore take the olive branch to his opponents. He needs the cooperation of all and sundry to avoid distractions from aggrieved individuals and interest groups that might attempt to supplant Ohanaeze. First and foremost, Obiozor should work hard and assert the authority of Ohanaeze as the credible authentic voice
Obiozor being declared winner of the election of Ndigbo and once it takes a stand, every individual and groups should fall in line. Contrary to the thinking in some quarters, the authority and influence of Ohanaeze Ndigbo is not confined to the geographical area occupied by the five component states of the South East zone (Abia, Anambra, Ebonyi, Enugu and Imo) but also to Delta and Rivers States that have indigenous Igbo population, as well as Igbos in the Diaspora. The Igbo in Delta and Rivers yearn for a sense of belonging and Obiozor must not give them any cause to feel marginalised just as Igbos feel in the broader Nigeria context. It is a fact that the Ndigbo are republican in nature and find it hard to subscribe to single chain of leadership. This explains why sometimes a group or two could raise a voice and attempt to counter Ohanaeze Ndigbo, when it takes a stand on national issues on behalf of Igbos. Even though some groups challenging Ohanaeze’s authority could be amorphous they always manage to create the erroneous impression in the public space that “Ndigbo are not united”. If the expression of divergent opinions on any issue is a true measure of unity then Ndigbo are no less united than other ethnic nationalities in Nigeria. Presently, the Igbo nation is seething with much anger due to perceived marginalisation and discrimination in national affairs especially, since the inception of the present administration of President Muhammadu Buhari. This cry of marginalisation and other injustices being perpetrated against Ndigbo have all snowballed into the separatist agitation being championed by the Indigenous People of Biafra (IPOB) led by Mazi Nnamdi Kanu. No doubt, the agenda of IPOB enjoys immense popularity among the youth population of Ndigbo, who bear the blunt of the marginalisation policies. Obiozor’s predecessor was not popular with youths, because of his stance against the separatist agenda of IPOB. It, however, behooves Obiozor to strike a balancing act of dousing the agitation for Biafra self-determination by making the federal authorities to jettison every vestige of policies and actions that fan the embers of marginalisation of Ndigbo in national affairs. The Igbo demands are varied and pertinent. They include
a chance to produce the president of Nigeria come 2023, restructuring/true federalism, equalisation of states as it affects the South East zone, which has five states as against six in South-south Southwest, North Central, North East and seven in North West. This imbalance in the number of states ranks high in the items of perceived marginalisation of the zone. It’s left for the new leadership of Ohanaeze to work with the political leaders and interest groups especially, the state governors to find a way of prioritising the Igbo demands and actualising them. While working closely with the South East Governors Forum, Obiozor must steer Ohanaeze in such a way that would not be seen as being led by the nose by the governors. States’ chief executives are in most cases guided by personal and party interests, when taking collective decisions that affect the Ndigbo. Ohanaeze has over the years acquired the image of being regarded as elitist. So, the new Ohanaeze leadership is expected to take the organisation closer to the people and make the governors put the Ndigbo interest first and pursue it effectively irrespective of their political affiliations. It is a tall order but Obiozor can achieve it by deploying his diplomatic skills of negotiation and persuasion. The professor of international relations would never lack in such skills, acquired and honed over the years of serving the nation as Director General, Nigerian Institute of International Affairs (NIIA), Lagos, Nigeria’s Ambassador to the United States, High Commissioner to Cyprus and Ambassador to Israel. Ndigbo yearn for security not only in their home states but also in other parts of Nigeria where they reside and make their living. The idea of setting up a regional security network akin to the Amotekun in the Southwest was championed by the immediate past Ohanaeze leadership but the South East governors became the wet blanket just at the point of giving birth to the security outfit. But with IPOB coming forward to setup the South East Security Network thereby taking the shine off the governors, they have now seen the need to stop being politically correct and work for the interest of the people, whose affairs they preside over.
NOTES FOR FILE
COVID-19: States Must Take The Initiative
Fayemi
It has become evident that a majority of Nigerians are largely their own problems. The under-reported deaths rate in the country today as a result of the spread of the second wave of Covid-19 attests to the fact that the believability of the virus is still at the lowest ebb. It is confounding, therefore, to note that in spite of the deaths of prominent people so far announced especially, the rate of their passing, Nigerians still
hold parties entertaining large crowds; they still go to the beaches and hold all manner of parties, carrying on as though life was normal. The time has come, perhaps, for the states to take the initiatives and help curb the current rate of spread through some measures pending the arrival of the vaccines. It is commonplace that the nation cannot afford another lockdown for obvious reasons, chief of which is the weak economy, which is already in
its second recession in a few years. But it would not be out of place for states, whose governors are ‘sensible and reasonable’ (and not those helping to promulgate the narrative that Covid-19 is hyped) to proscribe social gatherings of all kinds for now. Although this addresses the economy too, saving lives at this juncture should not be subject to any debate. Let the states show strength and leadership now!
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CICERO/TRIBUTE
Kanu
In this report, Segun James pays homage to Rear Admiral Ndubuisi Kanu, a former governor of Lagos State, who passed away in the week, due to complications from Covid-19 virus
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or Rear Admiral Ndubuisi Kanu, a Nigerian trained naval officer, one of the best of his time, whose vow was to defend the country from external aggression at all costs, death arising from Covid-19 complications was cruel. For a man, who was active during the Nigerian civil war of 1967 to 1970, when he took up arms as a naval officer of the Biafran Army, falling to the Covid-19 sword was heartbreaking. Kanu had a rare privilege of fighting both for the Nigerian Armed Forces and the rebel Biafran army, because of his unique seamanship. He became one of the first ex-Biafran soldiers to be recalled into the Nigerian Armed Forces. Unlike others, his days as a Biafran soldier was never counted against him as he not only regained his position in the Navy, he was deemed a nationalist at the end of the war that he was reabsorbed into the Nigerian Navy and became the first Igbo military brass after the war to be elevated to a Commodore and later an Admiral of the Nigeria Navy. But it was not his standing as a warrior that distinguished him, what stood him out was his work for the actualisation of democracy in the country. As a soldier, he believed that the military has no business in politics. Even though he held political appointments in his days as a soldier, he was more of a sailor than a politician. Since then,
he has devoted his time to political causes and human rights activities. No wonder after he left the military, Kanu although became political; he never joined politics or became a politician. At great risk to his safety, Kanu as a leader of the opposition NADECO fought his former colleague, General Sani Abacha to a standstill in the battle to actualise the June 12, 1993 election, presumably won by the late Chief Moshood Abiola. Born in Abia State on November 3 1943, he joined the Nigerian Navy and was sent to India for cadet officer training. His naval career included positions in Personnel, Logistics and Training. In July 1975, as a lieutenant commander, he was appointed a member of Murtala Muhammed’s ruling Cabinet, the Supreme Military Council and was later appointed military governor of Imo State in March 1976 during the military regime of General Olusegun Obasanjo, soon after it was created by the General Murtala Mohammed government. He was the first military governor after the decree that established the state from part of the old East Central State. He was transferred to become governor of Lagos State in 1977, leaving office in July 1978. Although he was Governor for barely one year, he left indelible development marks in the development annals of Lagos State. Kanu’s appointment came soon after the capital of Lagos was moved from Lagos Island to Ikeja. He had the unique opportunity of developing a
state capital from the scratch. With his successor, Navy Captain Lawal, they laid the foundation that was later built upon by Chief Lateef Jakande as governor. As governor of Lagos, Kanu was a development colossus. He never discriminated in his effort to develop the state. Projects were evenly distributed, expertly executed and of high quality. Projects were executed for Lagosians and Lagos State. Although he was from the old Imo State, he was more of a Lagosian than an Igbo man. No wonder that he lived and died in his beloved Lagos State, including earning the epithet, Action Governor, the title the people of Lagos reserved for governors they deemed to have performed. After he retired, he joined the pro-democracy movement and played a leading role in the agitation for the actualization of the annulled June 12, 1993, presidential election. He was Chairman of the Ohaneze Transition Caretaker Committee (OTC) and was a top National Democratic Coalition (NADECO) chieftain and became Chairman of the coalition in 2013. As his death continues to send shockwaves across the nation, eminent leaders of thought, statesmen, women and leaders of the civil society under the aegis of Project Nigeria Movement led by Elder statesman, Prof Ben Nwabueze (SAN) have condoled with his family. Kanu was a veteran of the struggle for the restoration of Democracy in Nigeria in the 90s.
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An Egba, Ogun State-born billionaire businessman, Bolu Akin-Olugbade, died last week after battling complications with from Covid-19. But he lived an enviably good life. Segun James writes
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e was a quintessential showman yet not in the show business. His signature style was the Roll Royce, the British luxury vehicle that exudes class. Dr. Bolu Akin-Olugbade exuded class in all its ramifications. All though he denied being a billionaire in dollars, the worth of his collections of Rolls Royce runs into billions of Naira. Bolu as he was called, was wealth personified. According to reports, he died of COVID-19 complications. Born into opulence and wealth, Akin-Olugbade was a lawyer, industrialist, and business mogul, whose tentacles spread to the oil and gas industry, banking and manufacturing. He died on Wednesday, 14th of January 2121. The son of one of the nation’s first republic political leader, Bolu Akin-Olugbade never waited on his father’s wealth. As a 28-year old, he had already bought his first car, a Rolls Royce to the consternation of his father, Babatunde Akin-Olugbade, a typical Egba Laywer and traditional leader in Owu, where President Olusegun Obasanjo comes from. While the elder Olugbade never believed in open and ostentatious display of wealth and opulence, his son, who had never held or sought any political appointment, insisted on being his own man. After all, he could account for his wealth. Following the death of his father, he inherited the title Aare Onakakanfo of Owu Kingdom which he held till he died. On being rich and wealthy, AkinOlugbade once said: “People call themselves billion-
aires in Nigeria today, but that is chicken feed. “If you have $5million today, you are a billionaire in naira. So, the word billionaire is abused in Nigeria. People call me a billionaire but I am not worth a billion dollars. I am not even near it, because I am worth only ($250million, and half of that I hold in cash because I believe in cash. “For example, if you have a big house in Ikoyi today, you are a billionaire in naira, even when you do not have cash. Cash is king”, he said. Unlike many rich folks in the country, AkinOlugbade opined that he did not owe any bank money anywhere in the world and that most Nigerian billionaires are debtor naira billionaires. “In fact, Forbes Magazine only publishes the share value and not the liabilities of Nigerian dollar billionaires. In Nigeria, a company should be worth only 10 times the dividends payment and a property should be worth only 10 times the rental value,” he added. Bolu, who was a prince of Owu and whose father was the Balogun of Owu Kingdom, was born on April 2, 1956. He attended the elitist Corona School, the first private school in the country and Kings College, Lagos. He later traveled to London to further his education at the University of London. He got his Bachelor of Law degree from that university in 1978 and his Master’s Degree in Law from the University of California in distinction for Corporate and International Business Transaction Law from 1980 to 1981. Akin-Ogunbiade later proceeded to the prestigious Cambridge University, where he got his PhD in Company Law. He bought his first signature Rolls Royce in 1984.
Akin-Olugbade
...Beyond the Rolls Royce Known majorly for his love for Rolls Royce, the late Bolu Akin-Olugbade was also a politician, who once aspired to lead the country, writes Tobi Soniyi
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es, Bolu Akin-Olugbade, who died of complications arising from Covid-19 infection loved Rolls Royce and he bought not less than ten before he died. He died on Wednesday, January 13, 2021. But beyond the Rolls Royce, there was more to Bolu known only to his close associates and relatives. As a young man in his 30s, Bolu took interest in politics. Not many remember that he once sought to contest for the office of the president of the Federal Republic of Nigeria. During the Ibrahim Babangida botched transition programmes for which the General was nicknamed Maradona, Bolu threw his hat into the ring. While the late Chief MKO Abiola was preparing for the presidential election that eventually cost his life, his kinsman from Owu in Abeokuta, Boluwatife Akin-Olugbade was also preparing to run for the presidency from Ogun State. The introduction of the Option A4 electoral system by the National Electoral Commission (NEC) led by Humphrey Nwosu meant that Abiola and Bolu would have to slug it out in Ogun State. Both were registered members of the Social Democratic Party. The option A4, also known as the open ballot system, adopted for the 1993 presidential elections, required candidates to go back to their states to begin the process. Abiola was forced back to Ogun State, where Bolu was already on the ground aspiring to be president. Following interactions by elders and other party loyalists, Bolu eventually agreed to step down for Abiola. He did not only step down, he also committed his resources to the Abiola Campaign. He was one of the few, who didn’t come to the campaign to collect money; he spent his money and time for the Abiola campaign. If Babangida had not annulled the election, many had expected that Abiola would reward Bolu with a key appointment. This was not to be. The rest is history. It was not clear whether his experience during the period or what Abiola was subjected to that persuaded Bolu to change his mind about politics. He consequently stayed away from politics. Instead, he channelled his energy into developing his business. And he succeeded.
Rolls Royce-Phantom He didn’t just stay away from politics; he also distanced himself from the social media and chose a private life. Until his death, Bolu Akin-Olugbade was the Aare Onakakanfo of Owu Kingdom. He was also the Chairman of Owu Empowerment Foundation Board. His father, an equally very rich man in his days, Babatunde AkinOlugbade, was Balogun of Owu Kingdom. He gave his children including Bolu the best education
money could afford. Besides, Bolu too had a successful law practice and majored in property development, construction and manufacturing, among others. Until his death, Akin-Olugbade was the chairman of Bolu Akin-Olugbade Limited and Chairman GMT Limited. He made money but didn’t spend it alone. He was a philanthropy, who didn’t make noise about helping those in need.
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T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ Ϳ˜ ͺͺ
Tribute to My Father, Prof. Oloruntimehin, My Iconic Role Model Jumoke Adenowo “You can teach what you like, but you can only reproduce your own kind.“ umbaba,“ the intellectual icon who dedicated his Magnum Opus “The History of the Segu Tukulor Empire” to “Funmi and little Jumoke.” Now I reflect, and I see that your love for me was so unalloyed, you re-christened yourself in your identity as my father. I on my part was unimaginably proud of you, and everything about you, including your book; every guest to our house was invited to “see the book my Daddy wrote.” You would tell me with tears in your eyes how you felt when you first held me in your arms and decided that “this one must be protected and pampered with love,” and thus the name “Olajumoke.” You were so proud that I looked so much like you. You would say, “You look so much like me Jumoke, you are lucky your dad is a handsome man,” and I would roll my eyes inwardly at your “modesty”. You took me everywhere with you. I wouldn’t even let you go without me anyway. We would go on international trips together and our myriad road trips; singing to the Carpenters and your French artistes (till now my limited French is rendered in your second arrondissement accent.) You were my best friend, and so your closest friends became my uncles and daddies, and lately my “besties.” Thank you for choosing such amazing men as Prof iyanda and your Mentor Bishop Olajide as your friends, Dad. They have been such an amazing support over the years. I treasure the privilege I have to access such wisdom seasoned by several decades of experience. You often said I looked out for you like a mother, and indeed we had this special bond. There are so many stories about our bond that I would need yet another book to write about them all. I remember when I was just three and you wanted to surprise Mum and I by arriving two days earlier from Europe and I suddenly announced in the pantry (while you were still three floors below and out of sight) “Daddy mi ti de!” Mum brushed my announcement aside because you weren’t expected for two more days. I just knew. I felt your presence and I saw in my spirit your car pulling up, and mere minutes later you walked into our third floor flat on Phillipson Road and I was delirious with joy. I thank God for the gift He gave me in you. Indeed, you reproduced your own kind. If I am considered precocious, you were the epitome of precocity. You were indeed a kingmaker and that’s my moniker today. I am passionate about the youth and they flow with me today because that’s what you modelled to me. You were not a gerontocrat. You didn’t need to invoke your age to make your point. Who listens to a two-year old’s opinion? Who apologises to a five-year old? You did. You respected and affirmed young people and so do I, now. You forgot to tell me that there were heights unattainable to a woman, so when I left your aegis and life tried to tell me what I couldn’t do simply because I had the “disability.” of being female, it was too late. So, I mentor other women fearlessly as you mentored me. Thousands of fathers have told me how inspired they were to be more intentional parents to their daughters because of my words about you heard by 115 million souls on CNN: “Fathers who believe in their daughters bring up more confident, assertive daughters.” You made it clear you respected me and reciprocally I had to be that person you could respect. You maintained that no other child could know you like I did because I spent the most time with you, being an only child for so many years. Perhaps you were right. You had a special code; a signature whistle you called me with. We had our coded French words with which we secretly communicated. We played together, from shadow boxing to piggy backing me and even my friends would join in.
“J
Leaning towards African traditional architecture, my research took me into the Journal of the Historical Society of Nigeria, only to discover that every other article was either authored by you, written about you or reviewed by you
Prof. Oloruntimehin and his daughter Jumoke Adenowo
Prof. Oloruntimehin One day, one of my friends sighed. “Jumoke,” she said, “I wish your daddy was my daddy.” I was a toddler at three, when you taught me how to swim at the UI Staff Club, and we were there almost every weekend. I toured the world with you from the age of two and the early exposure to those great edifices made me the architect I am today. By your admission, you later over-compensated for what you saw as my “privileged position”, the fact that I had you all to myself as the only child for almost nine years , but you and I sorted it out in the end, didn’t we, Dad? Yet there was one path you followed that you and I never thought was possible I could replicate, but God surprised us both. After failing to persuade me to consider a PhD following the distinction in my master’s in architecture and my insistence not to follow yours and mum’s footsteps in academia, your sense of fulfilment was obvious when I was appointed a Visiting Professor and Guest Laureate of the Chair of Architecture at The Technical University of Munich in 2019. You were proud of the rigour of the German decisionmaking process, you were proud of the fact that even the Bavarian Ministry of Education was involved in approving my appointment, and typical of your vast intelligence, I didn’t escape a lecture on the different “states” in Germany. You were following up with the structure of my lectures, for the first time you became a “helicopter dad.” It was this foray into academia that gave me a glimpse of your towering intellect. Leaning towards African traditional architecture, my research took me into the Journal of the Historical Society of Nigeria, only to discover that every other article was either authored by you, written about you or reviewed by you. I came face to face with the fact that my father was a true intellectual icon and I sent you a message from Munich in the
Oloruntimehin and his daughter Jumoke dead of night. I was in awe. Despite your health worn frail from battling cancer, when the Germans decided to pay me an unprecedented visit in Nigeria in November 2019 and also visit my alma mater University of Ife, you came to Lagos even in your physical frailty and dazzled the visiting German faculty with your brilliance. You had an amazing time, rubbing minds with foremost Art Historians and Oxford scholars in the delegation. Still, you wanted to do more, you told me how much you would love to join the delegation on their “pilgrimage” to Ife if not for the limitations of your health. Your sacrifice completely overwhelmed me, Dad. Is there nothing you couldn’t, wouldn’t do for your children? You are my role model in integrity, in universal philanthropy, in my work ethic, in striving for excellence, in being an aesthete and an epicurean, in courage, in forthrightness (oh how I wish I skipped that particular gene in these fake climes we find ourselves), in guilelessness, in fearlessness and in parenting. I thank you. My sons thank you. My husband thanks you. The millions who have been impacted by my life globally thank you. The cancer didn’t win, Dad, you wanted to sleep. Like you whispered to me in your last moments “even if I sleep all will be well.“ I need to let you know all is indeed well. Dad, you can rest. Good night, Jumbaba. I thank God for the rare privilege to be with you at the end, like I promised I would. And I testify that by His Mercy and Grace you are in a better place. Prof. Benjamin Olatunji Oloruntimehin was Dean, Faculty of Arts, University of Ife, Ile Ife (now Obafemi Awolowo University); pioneer Dean, Faculty of Humanities, and Chairman Committee of Deans, Ajayi Crowther University, Oyo State; President of the Nigerian Academy of Letters and President of Historical Society of Nigeria. He passed away December 18,2020, aged 81.
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ENGAGEMENTS
THISDAY, THE SATURDAY NEWSPAPER ˾ JANUARY 17, 2021
with ChidiAmuta e-mail:chidi.amuta@gmail.com
The Trump Aftermath
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n exactly three days from now, Donald John Trump will fade into the grey silhouette of America’s presidential history. He may stage a delusionary grand exit and stride out through the front door of the White House. More appropriately, he could choose instead to sneak out through the back exit under cover of darkness. Either way, Mr. Trump is about to walk into the anonymity of powerlessness. Perhaps, the tattered ego of an amateur tyrant had no better exit rehearsal than the serial infamy of the last four years of American history. Trump’s retreat to his Florida estate or Trump Tower in New York may no longer interest front page editors of major US newspapers. Clearly, what is easily the most consequential and controversial tenure in the White House will come to an unflattering end in a matter of days or hours. This manner of exit would be in direct reversal of what the flamboyant ego of Donald Trump would have desired. But history is what it is. In many ways, the untidy end of the Trump presidency was foretold. He is leaving in a slightly nastier storm than he came, having raked up clouds of disaster and turbulence all along a four year trail. I take it that in opting for Trump in 2016, the adventurous exceptionalism of the American spirit wanted to try something outside the humdrum correctness of normal Washington politics. The adventure and experiment has turned out a rather costly error. Let us make no mistake about it. Trump never wanted to be like a normal American president. Instead, he aimed to be an American ‘strong man’ president in the mould of the dictators he publicly admired (Vladimir Putin, Kim Jung Un, Tayeb Erdogan etc.) But even in his preferred model of elected autocrats and tin-god despots, he scored poorly. He lacked the intellect to craft a coherent personality cult let alone develop a coherent populist agenda. In other places where autocracy and one -man misrule manage to be tolerated, Trump would not have made much news. His feeble attempts to encroach on the institutions of state would have been passed off as amateurish or covered up by conniving officialdom. But in America, with over 200 hundred years of democracy and institutional integrity, Mr. Trump was an embarrassing interloper kept perennially in check by resilient institutions no matter how desperately he tried to weaken them. Strictly speaking then, on the scale of proper autocrats and recognized despots, even elected ones, Trump may pass as a mere apprentice. He cold not degrade American democracy to the illiberal tradition that we see in Russia and Hungary nor did he have the guile to graduate to elective absolutism. But in the eyes of his followers, he became something of a crude religious icon, which made him ultimately dangerous. Invading the Capitol with hooded goons and ‘official’ mobs may not be so earth shakingly novel . We have seen that nearer home. Converting the army, FBI, the police, Federal Reserve, public account agencies into extensions of the presidential fiefdom are areas that Mr. Trump dared not venture into because of the integrity of those institutions. Elevating the first family into co-rulers and outlaws was much easier and fits into the familiar pattern of unchecked sovereigns. Converting the ruling party into a private populist movement of the president, his family and friends is a familiar trait of dictators. Similarly, a private craving for the outward trappings of absolute monarchy are natural temptations of leaders deluded into power obsession. Trump once openly expressed a desire to have military parades as massive as the annual displays in Pyongyang and Beijing or reminiscent of Tsarist Russia or imperial France. The superfluous negatives of the Trump presidency come from a more fundamental source. He woefully failed to recognize and ran counter to the uniqueness of America as a nation. America has a quality which it shares with no other nation: it is a nation founded purely on a creed, an idea. At the center of that creed is freedom and democracy, a decisive departure from the stifling monarchism of old Europe from which America’s founders were fleeing. The men and women who fled Europe to found and embrace the new free world of America were all attracted by the central creed of freedom and democracy which America came to symbolize. Successive American governments have incrementally grown that creed by preserving, strengthening, respecting and upholding its defining values. Donald Trump rode on the back of democracy and freedom to assume power only to subvert the American ideal. For four years, he privatized the institution of the presidency, sought to subvert the supreme court, to privatize the Republican party, blackmail the legislature especially senators and congress men and women who differed with his policies. Methodically, Trump divided the nation he vowed to ‘make great again’ by appealing to base sentiments of race and nativism by using sustained falsehood. Under the guise of immigration control, Trump instituted a regime of reckless discrimination against immigrants and persons who did not fit into his narrow definition of what an American should look like. Avicious immigration control policy saw children held in inhuman cages and adults incacerated in sub human border detention facilities. In a nation built mostly by the labour of immigrants, armed officials knocked on doors to arrest and deport ‘illegal’ immigrants sometimes for routine paperwork infractions. Gradually, he cultivated a tribe of white supremacists, red necks and violent racists who felt entitled to the ownership of classic America. Under the guise of partisanship, Trump presided over a nation divided along racial, class and religious lines. The Moslem ban, the sponsorship of rabid Zionism and the blatant abuse and harassment of blacks were all aspects of an unequalled divisive
Trump...impeached twice within a term of office as President governance strategy. Donald Trump’s America has been a tragic devaluation of the relative security and social peace that had come to be associated with that country. Social unrest, riots and thinly disguised race riots became the order of Trumpian America. Rival gangs and armed fanatical groups emerged. Proud Boys, Q-A-Non, MAGA were activated to boldly disturb the peace only to be countered by Black Lives Matter in a contest for the soul of America. The police became the official enforcer of a divisive administration, sometimes executing young blacks in cold blood on the streets of American cities. By and large, a bigoted president that openly identified with white supremacist and extremist terror mobs became the greatest threat to national security. The high point of this ill -fated strategy was the promotion of the falsehood that the presidential elections of November 2020 were rigged against him. This culminated in last week’s storming of the Capitol by a motley assemblage of officially enabled violent mobs. In the aftermath of this brazen invasion of the citadel of democracy, the national security apparatus has snapped back into life in a bid to ensure that next week’s inauguration of a new president is not marred by another violent invasion of pubic spaces especially the Capitol, venue of the historic event. As of the time of this writing, well over 20,000 fully armed National Guard and other combat troops are swarming all over Washington DC. The Capitol and most of official Washington is now a virtual fortress, cordoned off by 7 foot perimeter fence work and wearing the look of a combat zone. The total number of troops mobilized to secure the city and ‘holy places’ of democracy far outnumber the total number of US troops on active deployment in Iraq, Afghanistan and Syria put together. The National Mall which is the usual meeting ground of all Americans who troop out every four years to celebrate the inauguration of a new president as a festival of democracy, has been closed to the public. The tragic symbolism of the massive troop deployment in Washington this week is a sad commentary on the sad state of American democracy that Donald Trump has created. These troops are marshaled not against a foreign force but instead against American citizens newly weaponized by the toxic theology of Trumpism. Even the optics of this warlike deployment - the Capitol as a war front- is in itself a humiliating derogation of the founding creed of America as a land of the free. Under the violent threat of Trump’s vicious populism, the usual dividing line between friend and foe that defines every war is now blurred. Trump’s mobsters have come to view fellow Americans as adversaries. Perhaps there are concessions that need to be granted here in favour of Trump’s villainous brand of misguided conservatism. The over 70 million Americans that voted for Trump in the 2020 presidential election represent a significant voice of endorsement for his viewpoint and policy slant. Perhaps these people love the unsightly wall of steel along the southern border. Perhaps they have benefited from the relaxation of corporate regulations that have made billionaires richer in America. Perhaps there are Americans who detest the fact that America is essentially a nation of immigrants and children and grand children of immigrants from Donald and Melania Trump to Kamala Harris, from Barack Obama to Collin Powell and from Henry Kissinger to Arnold Schwarzneger. Perhaps, there is a narrow definition of American nationalism that seeks to exclude Indian Americans, African Americans, Latino Americans and Asian Americans all of whom have joined forces to make the United States what it is. Trump’s supporters need to have their voices heard but not through violent intimidation and rowdy mob eruptions that limit the freedom of the majority. Yet the outcome of the 2020 presidential election represents a democratic rejection of this alternative viewpoint and its prime
salesman. To ignore this democratic verdict and exploit the division of perspectives within a national dialogue and use it as an instrument for the weaponization of a mob is the greatest disservice of the Trump presidency to American democracy. Yet, this ravaging and rampaging populism has unfortunately become the hallmark of Mr. Trump’s legacy. We must, however, go beyond the narrow confines of the myopia of the Trump era to reflect on the general challenges which it has thrust on global democracy. The questions are many. For instance, does democracy have a way of punishing an errant leader when his policies threaten the very survival of democracy itself and even the very nation? Ordinarily, the electoral process and the fact of periodic elections is the opportunity which a democracy has to pass judgment on and punish an errant leader. While Donald Trump fiercely marketed his ultra conservative nationalism, the 2020 presidential election delivered a clear verdict on his performance on the job. All the institutions of democratic America- the people, the state electoral circuits, the state courts, the Supreme Court and the electoral college mechanism- all returned a verdict of ‘failed’ on Donald Trump. Even after his mob invasion of the Capitol, his overt incitement of mob violence on the Capitol and the legislative branch has earned Trump a second impeachment, a historic first in American history. Corporate America has followed suit with damning sanctions ranging from ostracism, social media blackout to business blacklists and withdrawal of credit lines, support services and patronage for the Trump organization. The lesson is clear: democracy as a system, the state that it supports and the capitalist economy that underwrites the costs of the system have a combined lever to punish those whose actions threaten the entire system. Trump is abuot to feel the weight of the consequences of his politics of bad manners. The weapon of congressional impeachment by the House, while deserved, is clearly insufficient to bury the threat of Trump to the stability and security of the American political system. He has grown a dangerous but substantial support base. That base habours beliefs and groups that threaten the future of America as a diverse society. Even out of office, the possibility that a publicity hungry and egotistic Trump will continue to fan the embers of his decadent nationalism and racism will remain alive. In that mode, he could become a veritable source of political headache for the incoming Biden administration and the Democrats. The ultimate remedy is to proceed with a Senate conviction of Trump which will disqualify him from future contests for political office as well as strip him of the benefits and immunities of a former president. That Senate conviction, followed by a series of criminal prosecutions for his numerous infractions, should settle the Trump factor in the future of America’s politics. Such a line of action would also be in the interest of a reformed Republican party by clearing the path for more decent aspirants to vie for the presidency in future election cycles. The response of corporate America to the Trump misadventure has demonstrated a significant aspect of the political economy of democracy. Capitalism thrives best in an atmosphere of credible democratic practice. When democracy goes toxic and unleashes the forces of instability and insecurity, it poisons the market and constricts opportunities for profit. The high priests of the free market must also be advocates of free and fair elections as well as supporters of responsible behavior by those who the political system throw up to run the affairs of state. The larger issues such as freedom of free speech, fair competititon and regulatory fairness are all contingent on a fair and stable democratic space. Donald Trump has tempted the captains of industry to spell these out in rather stark terms unlike before. If indeed he was a proper capitalist, he should have seen the present dire consequences coming. The impending obliteration of the Trump effect will perhaps be most pronounced in the international space. The emergence of Trump was the deadliest blow to the liberal international order instituted at the end of the Second World War. The bedrock of that order was the establishment of the United Nations, the Bretton Woods institutions of mutual economic assistance and a whole gamut of multilateral mutual assistance programmes and agencies. Trade (WTO), healthcare (WHO), cultural and scientific cooperation (UNESCO) and nuclear non- proliferation and NATO were all guaranteed by the post war world order. With time, the liberal international order attained a consensus around the contention that liberal democracy and its supporting base of free markets was the most beneficial system for the advancement of the welfare of our common humanity. The beacon and guarantor of that world order was the United States whose power, influence and global leadership in war and peace was axiomatic. Trump’s emergence saw a reversal of this logic and a shrinkage of the United States from some of its global leadership responsibilities. He withdrew the US from WHO, WTO and shredded most strategic multilateral and bilateral trade agreements between the United States and its allies(TPP, NAFTAetc). He reduced the presence in and contribution of the US to NATO. The gaps he created emboldened Russia and China and considerably weakened Europe. Joe Biden now has his work well cut out both domestically and internationally. He needs to heal the wounds of a divided America at home and restore confidence in US credibility and leadership abroad. He needs to rescue America from the death grip of an unrelenting virus and salvage most of its citizens from the imminence of poverty and destitution. The shining city upon a hill is now almost a squalid hamlet in a valley of death! Trump’s sunset is America’s opportunity to embrace a sunrise under the experienced hands of Joe Biden.
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THISDAY, THE SATURDAY NEWSPAPER ˾ JANUARY 17, 2021
THE ALTERNATIVE
with RenoOmokri
Bishop Kukah and The Very Strong Judaeo-Christian Influence on Islam
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s a result of the threats that have been made by certain persons against Matthew Hassan Kukah, the Catholic Bishop of Sokoto Diocese, I find it necessary to refresh the memories of the belligerents, who sadly, are at the highest levels of certain faiths. Their recent comments have shown that they do not know their history. If they did know their history, they would not have taken the approach that they took. Much of the inability of persons who practice the three Abrahamic faiths of Judaism, Christianity and Islam to coexist is due to the fact that many of the adherents of these faiths do not really understand their religion and its history. Conflict is more likely between Muslims and Jews or Christians, than between Christians and Jews. And sadly, much of this conflict is due to politics, rather than religion. However, many adherents do not know that, because it is easy for political leaders to misuse religion in furtherance of their political agenda. And when this happens, many religionists are often unable to see that they are being manipulated. They just flow with the motion of the manufactured ocean. The truth is that, whether we like it or not, each of these religions has a lot in common. And while I do not believe in Islam or Prophet Mohammed, or that Muslims and Christians worship the same God, I do know that they have very intertwined origins. For example, almost every name that is considered holy in Islam, with the exception of the names Mohammed, Hassan, AbÙ Bakr (two names, which many Muslims join together to make Abubakar), and a few others, are of Jewish or Christian origins. Below are some examples. Idris is the Arabic version of Enoch Nuh is the Arabic version of Noah Ibrahim is the Arabic version of Abraham Lut is the Arabic version of Lot Ishãq is the Arabic version of Isaac Ya’qub is the Arabic version of Jacob Musa is the Arabic version of Moshe (Moses) HãrÚn is the Arabic version of Aaron Yusha is the Arabic version of Joshua Ayyob is the Arabic version of Job Daud is the Arabic version of David Sulaimãn is the Arabic version of Solomon Ilyas is the Arabic version of Elijah Al-yasa is the Arabic version of Elisha Hizqil is the Arabic version of Ezekiel Yunus is the Arabic version of Jonah Zakariyyã is the Arabic version of Zechariah Jibril is the Arabic version of Gabriel Yahya or Yahaya is the Arabic version of John the Baptist Yusuf is the Arabic version of Joseph And Maryam (the only woman mentioned by name in the Quran) is the Arabic version of Mary. (Other women were referenced, but not by name). She has a whole chapter named after her in the Quran (ãyãt Mariam). So, why does the Quran make reference to Jewish and Christian saints and prophets? I do not know. However, what I do know is that one of the first persons prophet Mohammed consulted after his angelic visitation, was a man named Waraqah ibn Nawfal. Waraqah was not only a Christian, he was also a priest, who had an Arabic version of the Scriptures (The Bible and other Jewish books). He was also well versed in Hebrew script. Umm al-mu’minÍn (the mother of the faithful) Aisha, testified that Waraqah assured prophet Mohammed that the angel who spoke to him is the same angel that spoke to Moses. According to Islamic sources, Prophet Mohammed himself could not read or write. However, with the fact that Waraqah identified the source of his revelation as the same with that of Moses, which also agrees with the Quran, there was bound to be an interplay between Judaism, seeing as Moses was the founding prophet of Judaism (not Abraham). But that is not all. Culturally, there are a lot of similarities between Muslims and the oldest Christian nation on Earth, Ethiopia. This is a nation I have been to nine times, and each time I visit, there is something different to learn. In Scripture, modern-day Ethiopia is not referred
Reno with Bishop Kukah in 1999 to as Ethiopia. When you see the word Ethiopia in the Old Testament, it is referring to Cush or Black Africa. Ethiopia comes from the word Ethiope, which is the old word for a Black man. If you are familiar with Shakespeare’s writings, you will notice that he uses the word Ethiope to describe Black men. Modern-day Ethiopia is always referred to as Sheba in the Old Testament (1 Kings 10, 2 Chronicles 9, Job 1:15). In the Quran, modern-day Ethiopia is known as Saba. When you go to Ethiopia, you will be amazed, or perhaps even shocked, at the similarities between Ethiopian Orthodox Christianity and Islam. Yet, the Ethiopians have been worshiping in their unique manner for centuries BEFORE Mohammed was born. How come the similarities? Who learned from who? If you hate facts and are a religious extremist, please stop reading NOW! The similarities between Ethiopian Orthodox Christianity and Islam arose because when the Quraysh clan of Mecca persecuted Prophet Mohammed and the first Muslims, the Muslims fled to Ethiopia where the Ethiopian Christians gave them asylum and militarily protected them from the Quraysh. When the Quraysh sent emissaries to appeal to the Negus (Christian King of Abyssinia, as Ethiopia was then known) to hand over the Muslims to the Meccans, the Negus refused. They were surprised, because they had brought expensive gifts as presents (bribes) for him. The Negus had read from Ayat Maryam in the Quran, and according to him, the only major difference between Islam and Christianity is that the Muslims viewed Christ as a Prophet, not as the Son of God, which He is according to the articles of the Christian faith. The first Muslims stayed in Ethiopia. While there, they learnt from their African hosts. ‘Now, let me correct a misconception many people have. The first Hijra of Muslims was NOT to Medina. Seven years before Medina, the followers of Prophet Mohammed (SAW) were given asylum from enemies by Christians in ancient Ethiopia. Situate this with the threats made by certain persons against Bishop Kukah. Again, I ask if they know their own history. Now, I urge you to either visit Ethiopia, or research how Ethiopian Orthodox Christians dress, how they worship and how they commune with each other. The whole idea of what we call Christian worship in Europe, America, and in colonised South American, Asian and African nations, like Nigeria, is alien, and often repugnant to Ethiopian Christians. Believe it or not, if an Ethiopian becomes a Pentecostal modernist Christian, maybe because of their sojourn abroad, their family often rejects them and cuts them off. In Ethiopian Orthodox Tewahedo Christianity, men and women do not mingle in the temple. They sit separately. They enter the church via separate entrances. Whilst in church, the women must cover all parts of their bodies, and only their faces will be visible. Their hair must not be visible. Sound familiar? When I saw them praying at the 1000-year-old rock
hewn church of Lalibela, they prayed like Muslims, or so I thought. They had eyes opened, but looking down, or ahead, with arms outstretched. I asked the Liqa kähnät (officiating priest) why they prayed like Muslims, and the man looked at me and calmly told me that they have been praying in this manner, undisturbed, for 2000 years, ever since the Ethiopian eunuch of Acts 8:26-39 brought the Christian faith from Israel to the ancient kingdom of Aksum. Mind you, this was over 600 years before Prophet Mohammed was born. You will never find Ethiopian Christians contravening 1 Corinthians 14:34, as is now very common in Western Christendom and African Pentecostalism. They do not modernise their brand of Christianity. They do not adjust Scripture to suit the times. They adjust the times to suit Scripture. At this stage, permit me to establish this fact: It is possible to be a Christian without believing in Mohammed, but it is impossible to be a Muslim without believing that Christ is a Prophet of God (Prophet, not Son). And for those Christians who may immediately dislike Muslims for this, try and understand where they are coming from. Read Deuteronomy 18:15. In fact, more Muslims bear the Name of Christ, than Christians. When you see a Muslim bearing Isa, he is bearing the Name of the Christian Messiah of the world, Yeshua, who some also call JESUS. Let me end by saying that Muslims who know their history will never harbour animosity towards Christians. True Christians have always shown love to others. And this continues till today, and in proof, I will quote the Muslim Governor of Nigeria’s Borno state, Professor Babagana Zulum, who said (and this is a quote): “In the midst of challenges with the Boko Haram insurgency, countries from the west have shown more concern for the plight of Borno people than rich Arab nations whose people share similarity of religion and culture with the majority of Borno citizens. We have made several efforts, written and visited embassies of Arab countries, especially those that are rich and not dealing with crises, but obviously, majority of the Arabs do not care about our situation, neither do they support us.” I hope those who threatened Kukah have read the above words from Governor Zulum.
Reno’s Nuggets
Dear church boy, Better to marry a beautiful wife who can’t pray, as long as she shares your faith. Don’t let anyone fool you into marrying a prayer Queen you are not attracted to. You can teach your wife how to pray. But you can’t teach her how to be beautiful! If she has both, then all the better. Marriage is not a sacrifice. It is a blessing. Don’t sacrifice your physical needs because you want to be a good church boy. Take a while to look at the wives of prominent pastors. When you are happy in the bedroom, you are likelier to be powerful on the pulpit #FreeLeahSharibu #RenosNuggets
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THISDAY, THE SUNDAY NEWSPAPER ˾ ͯ͵˜ ͰͮͰͯ
NEWSXTRA
Customs Flouts Buhari’s Directive, Shuts Nigeria-Niger Border $ZDLWV GLUHFWLYH IURP SUHVLGHQF\ 7UDGHUV DFFXVH FXVWRPV RIÀFLDOV RI H[WRUWLRQ Francis Sardauna in Katsina The Nigeria Customs Service (NCS) yesterday shut Nigeria’s border with Niger Republic at Jibia, Katsina State less than 48 hours the Nigerian Immigration Service (NIS) reopened it in line with the directive of President Muhammadu Buhari. Consequently, the decision of the customs service sparked mild protest among traders in communities around the border, alleging that the customs officers closed the border to continue their illegal activities in the area. THISDAY uncovered the contravention of Buhari’s directive yesterday during a visit to the border post at Jibia, Jibia Local Government Area (LGA), Katsina State. On December 16, 2020, Buhari approved the immediate reopening of four major land borders in Nigeria after 15 months of outright closure that stoked stern criticism across Africa. While he directed immediate reopening of the land borders, the president did not approve the importation of rice, poultry and other counterfeit products. Consistent with Buhari’s directive, the Comptroller General of Immigration (CGI), Mr. Muhammed Babandede had on
Thursday directed the immediate reopening of the Nigeria-Niger border. Babandede conveyed this directive in a three-paragraph circular addressed to the Katsina State Comptroller of the Immigration Service. Babandede was quoted in the circular saying the federal government “has directed the Nigeria Immigration Service to reopen all land borders in the country but with strict adherence to Presidential Task Force protocols on COVID-19 pandemic.” Consequently, there was ceremonial reopening of the border on Thursday which was well-attended by traders within and outside the country, including the Deputy Comptroller of Immigration in charge of the border, DCI H. Ibrahim, customs officers and police at the frontier of the border. During the visit to the border post yesterday, however, THISDAY observed that the officials of the customs service restricted human and vehicular movement across the border post while its main entrance was under lock despite the directive of the president. THISDAY, also, observed that the operatives of the customs service denied traders and travellers entry and exit at the
APC Extols Akande at 82 Adedayo Akinwale in Abuja The All Progressives Congress (APC) has congratulated the former Interim National Chairman of the party and former Governor of Osun State, Chief Adebisi Akande on his 82nd birthday. The ruling party said his progressive leadership laid the foundation for the party’s electoral victories in the 2015 general election. The Secretary of the Caretaker/ Extraordinary Convention Planning Committee of the party, Senator John Akpanudoedehe, stated this in a statement issued yesterday. He said Akande’s pivotal and progressive leadership laid the foundation for the electoral victories in the 2015 general election, most significantly the historic election of
President Muhammadu Buhari, which unseated an incumbent president for the first time in an election in Nigeria. Akpanudoedehe said Akande “has remained a father figure in the polity and a unifier in times when the APC needed a voice of reason to settle differences within the party. “Akande is an elder statesman, grassroots politician, astute administrator and staunch advocate of progressive politics and governance. “The APC is proud to note that Akande’s many achievements are as a result of his sincerity of purpose and personal sacrifices he has exhibited in positions of authority he has occupied at state, national and party levels,” he added.
MultiChoice Brings Back Step up Campaign MultiChoice Nigeria has brought its step up campaign offer to its DStv and GOtv customers this January. The firm revealed the plan in a statement quoting its Chief Customer Officer, Martin Mabutho The firm said the step up campaign offered all active and disconnected DStv Compact, Confam and Yanga customers the opportunity to pay for a package a step above their current package and get a boost to view programming on the next higher package. The statement said customers on GOtv Jolli and Jinja could upgrade to enjoy GOtv Max for less at a special discount
of N2, 999 instead of N3, 600 per month. It added that all the upgrades “are scheduled to happen within 48 hours and will be available from Thursday, 14 January till Wednesday, 31 March 2021. “Through the step up and Max for Less campaign offers, we are giving our DStv and GOtv customers something to get excited about this January,” said in his statement. Mabutho said: “We started this special offer back in 2019 as a way of giving customers on the lower packages a chance to enjoy quality video entertainment on our higher DStv and GOtv packages for less.
border town. It equally observed that there was restriction of movement as checking of goods and vehicles remained in place at more than 20 checkpoints mounted by armed customs and police officers along Katsina-Jibia highway. The customs service, however, justified its action on the ground that it had not received a formal
directive from its supervising ministry to reopen the border. An official of the customs service, who spoke private with THISDAY, said security agencies at the border post were still expecting official directives to reopen the border. He said: “We heard about the reopening of the land borders from the news, but we are still waiting
for directives from our head office in Abuja. We can not just open the border like that. “As you can see, when the border was closed, the federal government introduced Joint Border Patrol which comprises Army, Immigration, Police and Customs. So, we must receive an official letter from our head office as
members of border drill before we will open it,” the customs officer said anonymously. Concerned about the conflicting directives, some traders in separate interviews in Jibia yesterday lamented endless extortions by customs officers, claiming that the customs officers closed the border to continue with their illegalities in the area.
FAREWELL TO LATE VETERAN. . . L-R: First son of late Gbolabo Ogunsanwo, former Editor of Sunday Times, Bayo; his brother, Babajide; former Ogun State Governor, Chief Olusegun Osoba; Bola Ogunsanwo, daughter of the deceased, and her brother, Femi at the Christian wake keep service for late Gbolabo Ogunsanwo in Lagos... recently
LASU Staff Seek Dissolution of VC Selection Committee Gboyega Akinsanmi The Joint Council and Senate Selection Committee charged with shortlisting candidates for the position of vice chancellor of Lagos State University has already predetermined its report, the institution’s senior staff members have alleged. Consequently, the staff members have asked the state governor and Visitor to LASU, Mr. Babajide Sanwo-Olu to dissolve the selection committee for alleged bias. They made these allegations in separate engagement with THISDAY at the weekend, claiming that the members of the selection committee had their own preferred candidate for the position of the vice chancellor. They also alleged that the selection committee, which comprises representatives of the Senate and Governing Council, had breached the directive of the visitor in its
operation, thereby calling for its immediate dissolution. One of the staff members, who spoke with THISDAY anonymously, explained that what led to the cancellation of the first process was the irregularities and flagrant violation of the guidelines advertised in the newspapers. He noted that it was on this ground that the governor “investigated and evaluated the whole process. He also discovered some irregularities, which informed his decision to cancel the process in the first place.” After the cancellation, the source explainedwhythevisitortotheinstitution calledforafreshprocess,whichaccording to him, suggested that everything about the first process could no longer stand when the new process commenced. Anotherseniorstaffsaidafreshprocess “means there will be a new advert. A fresh process means there will be a shortlisting. A fresh process, also, means there will be a new
interview and a new selection committee in place.” However, he lamented that the same set of selection committee, which handled the first process, “is in place to implement the new process,” which he said, contravened the directive of the visitor of the institution. He added that acting in contravention to the visitor’s directive “is a major concern. It is a concern because they already have established open bias against some candidates contesting for the office of vice chancellor. “The selection committee has shortlisted candidates that are not qualified so that they have their people in the list of shortlisted candidates. The same people are implementing the new process, which the governor directed. “This is a great concern that the selection committee is not going to be fair. The committee can not come up with a fair report. The true
outcome of the first process showed that Prof. Ibiyemi Olatunji-Bello was ranked first. But the committee placed her in the fourth position.” Under the new process, the source claimed that he was told that the selection committee had concluded plans “to shortlist 10 candidates and resolved to place Prof. Ibiyemi Olatunji-Bello in the 7th position irrespective of her performance.” From all indications, the source disclosed to THISDAY that nearly all members of the selection committee “are working to actualise the plan of the immediate past Vice Chancellor, Prof. Olanrewaju Adigun Fagbohun. So, the committee cannot be fair in its decision.” Also, Concerned Staff of LASU has petitioned the governor, alleging that some form of compensation had been given to some Senate members on the committee for acting in line with the predetermined report.
PETAN: Elemelu’s OML 17 Acquisition, a Strategic Move Chris Paul The Petroleum TechnologyAssociation of Nigeria (PETAN) yesterday said Tony Elumelu’s acquisition of Shell’s OML 17 was a bold strategic move for the oil and gas industry in the country. PETAN’s President, Emeka Ene made this remark in a statement he issued yesterday. He said the bold move to acquire OML 17 “is certainly strategic from
the industry perspective.” According to him, three megatrends have emerged from the impact of the global pandemic including deglobalisation, capital flight and digitalisation. He said: “While we in Africa and Nigeria specifically may appear helpless, this scenario presents opportunities to grow from the inside-out. “With this context investment in idle assets becomes
an essential path to generating near team growth in an industry that has flat-lined over the last five years. “Nigeria was only able to attract less that 5 percent of the over 74 billion dollars in FDI that flowed into Africa. The answer lies within and the OML 17 acquisition creates new opportunities for growth. “The major concern is that the Nigerian investor recognises that the acquisition places a burden to utilise 100 per cent local services companies to develop the asset and
not fall into the trap of believing that multinational companies are the way to go when Nigeria companies large and small have proved competence, delivered technology and operational excellence even at times of grave economic and environmental constraints.” Rather than seek credible companies locally, he said there “is a tendency to circumvent the provisions of the Local Content Act through MOUs with fronts and briefcase operators.
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Buhari’s Govt Still Laced with Massive Frauds, Say TI, CISLAC Lament inter-agency rivalry among ACAs
Gboyega Akinsanmi Despite its emphasis on antigraft war, the federal government under President Muhammadu Buhari is replete with massive fraud, looting and corruption, Transparency International (TI) and its national chapter, Civil Society Legislative Advocacy Centre (CISLAC) have alleged. The organisations have, also, claimed that the control of lucrative asset recovery ‘business’ of asset freezes, confiscations and repatriations has caused inter-agency rivalry among anti-corruption agencies (ACAs). TI’s Head of Nigeria Office, Mallam Auwal Rafsanjani made these claims in an exhaustive review of Buhari’s anti-graft programmes in 2020. Pointing out institutional and political flaws that laced the fight, Rafsanjani faulted the federal government’s claims that it had recovered assets worth billions of dollars. He disclosed that assets worth billions of dollars were recovered “without accounting who manages these assets, how these assets are utilised and what prevents the re-looting of looted assets. “While the federal government rightly claims some success in international asset recoveries, the domestic asset recovery regime is not accountable to anyone and is subject to political and personal abuse. “The control of lucrative asset recovery ‘business’ of asset freezes, confiscations and repatriations has therefore caused inter-agency rivalry among ACAs saddled with the responsibility of fighting
corruption.” He pointed out the arrest and subsequent suspension of the Acting Chair of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, for alleged office abuse and insubordination is a symptom of the long overdue reforms in anti-corruption agencies. Despite Buhari’s emphasis on antigraft fight, Rafsanjani alleged that the previous year witnessed massive fraud that dominated the disbursement of whoppingsumsdonatedtomitigatethe health and socio-economic impacts of COVID-19 on governments, individuals and households, While some cases are being investigated, TI’s national helmsman noted that the civil society was shocked “to witness gross abuse and incompetence in the distribution of the pandemic relief. “The secrecy that dominated accountability of the administration and disbursement of the funds exposed the extent of susceptibility of Nigeria’s systems and institutions to unchecked mismanagement, looting and corruption,” Rafsanjani said. He acknowledged that the federal government inaugurated Presidential Task Force on COVID-19 response saddled with specific responsibility to coordinate donations for efficient and impactful spending, among others. He, however, alleged that membership formation of the task force did not take into cognisance representatives from the media and other credible organisations working on anti-corruption, transparency and accountability in governance, which according to him, depicted a deliberate flout of proactive measure to ensure
Amorka Council of Chiefs Suspends Mbanaso Tobi Soniyi The Executive Secretary of Anambra State Judicial Service Commission Mr. S.U.S. Mbanaso has been Expelled from the Amorka Council of Chiefs. The Amorka Council of Chiefs in a statement signed by nine village heads out of the 10 present at the meeting which took place on January 9, 2021, agreed to withdraw the chieftaincy title conferred on Mbanaso due to alleged gross misconduct. According to the statement, sequel to the series of activities aimed at destabilizing Amorka community and the unity among the people over time allegedly exhibited by Mbanaso after the conferment of a chieftaincy title on him, which caused disunity in Amorka community in Ihiala Local Government Area of Anambra State; a committee was set up to look into the said allegations against him. The committee recommended that he be expelled outrightly from the council. The statement said: “But Mbanaso was given an oppor-
tunity to defend himself, and after stating his defence to the allegations, the Amorka Council of Chiefs thereafter suspended him instead of outright expulsion to know whether he will change from his destabilizing activities. “Instead of Mbanaso to turn a new leaf, he rather resorted to intimidating the Amorka Council of Chiefs and the President General of the Amorka Town Union with his new job as the Executive Secretary of the Anambra State Judicial Service Commission, Awka.” The statement alleged that he (Mbanaso) incited some elements in Amorka against the traditional stool and the President General of the Amorka Town Union which caused division in Amorka. “Therefore, today being the 9th day of January 2021, the Igwe of Amorka and the Amorka Council of Chiefs hereby withdraw the chieftaincy title conferred on Mbanaso from him and henceforth ceases to be addressed as a chief in Amorka Community. All rights and privileges accorded to Mbanaso as a chief in Amorka are hereby withdrawn,” the Amorka Council of Chiefs stated.
Demand compliance with entitlements prescribed by RMAFC
judicious utilisation and distribution of funds. As a result, he explained that the country witnessed unanticipated citizens’ agitation, outburst and resultant unrest that metamorphosed in looting of the illegally diverted Covid-19 palliative at all levels. TI’s national helmsman cited
different footages showing aggrieved citizens re-looting the diverted and stocked palliatives in secluded warehouses across the country to buttress his claim. He wrote: “Despite the glaring impacts of the pandemic on citizens’ livelihoods with resultant financial incapacitation and poor
purchasing power, palliatives were obstructed from getting to them, and information of their existence was never made known to the citizens of the affected communities. “This validated the worries by civil society organisations (CSOs) over lack of transparency and accountability that
dominated the Covid-19 donations, expenditures and distribution of palliatives. “The unrest has even added to the widespread insecurity all over the country and has exposed lack of transparency and accountability on the side of the police and the defence establishment.
A GIANT STRIDE . . . L-R: Group Managing Director, Nosak Group, Mr. Thomas Oloriegbe; Executive Director, Engineering & Technical Services, Terraworks Limited, Mr. Sesan Agbelusi; Executive Director, Commercial & Corporate Services, Terraworks Limited, Mr. Desmond Kajetan; Executive Chairman, Nosak Group, Dr. Toni Ogunbor and Managing Director/CEO, Terraworks Limited, Mr. Ntai Bagshaw, at the unveiling of Alpha Mall and Terraworks’ corporate headoffice in Ogudu GRA, Lagos... Friday
North Not Satisfied with Buhari’s Performance, Says NYLF Daji Sani in Yola The Northern Youth Leaders Forum (NYLF) yesterday revealed that the north was not satisfied with the performance of President Muhammadu Buhari, especially his handling of security challenges in the north. NYLF, a coalition of 42 youth organisations in the north, recommended the National Leader of All Progressives Congress (APC), Senator Bola Ahmed Tinubu, among others, for the 2023 presidential contest. NYLF’s National Chairman, Mr. Elliot Afiyo made this disclosure during an interactive session with journalists in Yola, the Adamawa State capital. Also at the session, Afiyo
disclosed that six presidential aspirants had directly sought the support of the forum for the 2023 presidential contest, though claimed that it had not promised to support any of the aspirants. He said the forum supported and voted for Buhari in 2015 not because they considered him as the best candidate for the North, but because he was the best candidate to be used to chase out former President Goodluck Jonathan. In 2019, he observed that the coalition knew that the presidential candidate of Peoples Democratic Party (PDP), Alhaji Atiku Abubakar would definitely win the election, but would not be allowed due to what he described as political conspiracy against him. He said: “We decided as a
forum, not to waste our resources, time and energy to support him. We could not also campaign for Buhari because we were not happy or satisfied with the performance of his administration, especially the security situation in the north.” Afiyo, Secretary-General of the Association of West African Monarchs, noted that the forum directed and supported its state chapters in the areas of mobilisation and election of individual candidates instead of parties. He said: “That was why PDP won in some states and APC also won in other states. Many people did not understand the political mathematics and scheming that resulted in the victory and defeat. But we knew what we did.” Afiyo said the only asset the
northerners “are left with in a political dispensation in Nigeria is political supremacy and power because of its collective determination, political unity coupled with their numerical strength.” He said: “In NYLF, we believe Northwest has produced two presidents and a vice president. We believe it is the turn of the Northcentral or Northeast to produce the president or vice president, which must be fully endorsed and supported by the Northwest. “We have over two million of our members from the Northwest. We have all agreed not to support any candidate from the zone in 2023 in the best interest of the north.
MDCAN: PhD Not Mandatory for VC Appointment Seriki Adinoyi in Jos The Medical and Dental Consultants’ Association of Nigeria (MDCAN) has called on the Lagos State Governor, Mr. Babajide Sanwo-Olu to disregard the argument that holding a PhD should be a requirement for appointing the next Vice Chancellor of Lagos State University. The association, in a statement issued yesterday by its National President, Prof. Ken Ozoilo said there were eight vice chancellors currently serving in federal and state universities without holding doctoral degrees. MDCAN, an affiliate of Nigerian Medical Association and
West Africa’s largest specialist medical association, therefore dismissed the argument that a candidate must necessarily hold the degree to qualify for the position. Ozoilo said the professional and academic qualification to be employed, as a clinical lecturer in the university system in Nigeria, “is the Fellowship of National Postgraduate Medical College of Nigeria (NPMCN) or its equivalent. “The fellowship along with evidence of academic productivity forms the basis of promotion of clinical lecturers up to the professorial cadre. “Possession of PhD for Clinical Lecturers is optional
(non-obligatory) and does not apply as criteria for employment nor for career progression of clinical lecturers in the Nigerian University system as expressly restated by the National Universities Commission (NUC) vide circular ref: NUC/ES/138/ VOL.63/53 of 3rd of March 2020.” MDCAN’s national president revealed several fellowship holders “are currently serving as vice chancellors in different federal and state universities in Nigeria. “These include the current President of the Nigerian Medical Association (NMA), Prof Innocent Ujah, a Consultant Obstetrician and Gynecologist, the VC of the Federal University of Health
Sciences, Otukpo who does not hold a PhD. “Prof Bello Shehu, a Consultant Neurosurgeon, is also VC of Federal University, Birnin Kebbi. He is a Fellow of the National Postgraduate Medical College of Nigeria, and does not hold a PhD. “Prof Aliyu Usman El-Naferty, a Consultant Obstetrician/ Gynecologist is the current VC of the Gombe State University; he is a fellow and does not hold a PhD. “Prof Chigozie Ogbu, is a Consultant Pediatrician, does not hold a PhD, and is the Vice Chancellor of the Ebonyi State University,” Ozoilo revealed in its statement.
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SUNDAYSPORTS
Edited by: Duro Ikhazuagbe email:Duro.Ikhazuagbe@thisdaylive.com
PREMIER LEAGUE
Semi Ajayi on Target as West Brom Earn First Win Under Allardyce Duro Ikhazuagbe with agency report
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igerian international, Semi Ajayi scored his second English topflight goal of the 2020/21 season yesterday as West Bromwich Albion defeated Wolverhampton Wanderers 3-2. The Super Eagles defender’s goal in the 52nd minute drew West Brom level at 2-2 before Matheus Pereira’s penalty sealed first victory for Sam Allardyce at the Molineux. Penultimate Saturday, Ajayi was on target as West Brom defeated Blackpool in the FA Cup. He now has three goals in all competitions this season. West Brom nominated Ajayi for Man of the Match award along with scorer of the opening and third goal Matheus Pereira and Kyle Bartley. The win was a big relief for Big Sam who failed to win any of his first five matches since replacing the sacked Slaven Bilic. But the former England manager was finally able to celebrate after a pulsating Black Country derby at Molineux. Pereira put Albion ahead from the spot before goals from Fabio Silva and Willy Boly put Wolves in the driving seat at halftime. Ajayi equalised after the interval and Pereira’s second penalty sealed West Brom’s first win in eight league games. Albion remain second bottom of the table after their second league victory this term, but are now just three points from safety. Wolves are winless in six league games and have not beaten the Baggies in 10 years. It was the first time these two local rivals had
met since 2012 when West Brom won 5-1 at Molineux and this was an equally memorable success for the visitors. West Brom were hit by Covid-19 last week, forcing keeper Sam Johnstone and winger Matt Phillips into self-isolation after positive tests. David Button replaced Johnstone in goal, while new signing Robert Snodgrass made his Albion debut in Phillips’ absence. Wolves had won just one of their eight league games since Mexico striker Raul Jimenez suffered a fractured skull against Arsenal in November. They fell behind in the eighth minute with a self-inflicted wound. Boly caught Callum Robinson with a rash challenge and, after a VAR review confirmed the foul was just inside the area, Pereira stepped up to convert the penalty. That made it nine consecutive league games in which Wolves had fallen behind. Silva’s leveller came in the 38th minute when Albion failed to clear a Romain Saiss cross and Boly’s deft backheel found the teenage forward, who slotted home from close-range. Sloppy defending was Albion’s downfall again as Wolves went in front five minutes later. Joao Moutinho’s corner wasn’t cleared by Jake Livermore and Boly slammed his shot past Button from seven yards. Boly was the first Wolves player to concede a penalty, assist a goal and score a goal in the same Premier League game since Adlene Guedioura in 2011 – also against West Brom at Molineux. Elsewhere, Chelsea defeated Fulham 1-0 while Leeds fell 0-1 to Brighton. West Ham similarly defeated Burnley 1-0.
Semi Ajayi (left) celebrating his equalizing goal against Wolves...yesterday. West Brom won the game 3-2
Eunisell Renews Rivers Utd Shirt Sponsorship
Host Cameroon (yellow and red jerseys) won the opening game of the delayed CHAN yesterday in Yaounde
Cameroon Opens Delayed CHAN with Win over Zimbabwe Nine months after it should have started, the African Nations Championship (CHAN) finally kicked off on Saturday as host nation Cameroon defeated Zimbabwe 1-0 inYaounde. Playing in Group A, Salomon Banga scored the match-winner 18 minutes from time as the defender showed good agility to score with an overhead kick. With FIFA President Gianni Infantino, CAF’s new Honourary President,Issa Hayatou and Cameroon’s PrimeMinister,JosephNgute,watchingon,Cameroon dominated large swathes of the game only to be let down by their shooting accuracy. Zimbabwe goalkeeper Ariel Sibanda kept his side in the game but was fortunate that several Cameroon efforts were straight at him. Later on Saturday, Burkina Faso and Mali can go top should either register a large win when the duo meet, also inYaounde. The CHAN was originally scheduled to take place inApril last year but was postponedone month earlier as coronavirus swept the globe. The sixth edition of the event for players based
in their own domestic league is one of the largest football tournaments to take place anywhere in the world since the pandemic began. Sixteen teams are playing in four groups of four,with the final taking place on 7 February, and stadiums can be filled up to 25 per cent of their capacity because of Covid-19 concerns.
Nigeria’s second representatives in this year’s CAF Confederation Cup,Rivers United FC have received a boost with Eunisell, the country’s largest independent chemicals and oil & gas production solutions company, renewing its sponsorship for the 2020/2021 season. Eunisell is the longest standing front-ofshirt sponsor in Nigeria’s professional football league. The renewal comes following Rivers United’s impressive start to the season in which they have won their opening two matches and on the verge of qualifying for the group stage of the CAF Confederation Cup. Speaking on the latest development, Eunisell’s Group Managing Director, Chika Ikenga, emphasised the importance of the company’s commitment to the future of professional football in Nigeria. In a statement, the GMD noted that the company’s participation, through sponsorship, will not only benefit Rivers United and the team’s growing number of fans, but sets the standard for the private sector’s involvement in Nigeria’s national sport. “Our participation, through sponsorship, will not only benefit Rivers United and the team’s growing number of fans but sets the
standard for the private sector’s involvement in Nigeria’s national sport. “Our vision from the outset has been to help lift the standard of professionalism in football here at home. That takes long-term financial commitment and time,” observed the Eunisell GMD. He continued: “Port Harcourt is one of Eunisell’s principal markets and to be able to show visible and meaningful support for the local team, Rivers United, is important to us. “A significant percentage of our staff and customers live in the oil and gas hub, so we are proud of our involvement and active support.” Ikenga emphasised that the relationship between the company and the club has been for over six years, through the club’s‘peaks and valleys’performances in the past few seasons, adding that Eunisell is in it for the long haul. “Rivers United has proved that by digging deep and staying focused, a team can rise steadily and regain their place at the top of the league. We admire the club’s management and players’ resolve - they made a commitment to us last year and indeed in previous years that the company would be proud of their performance, and that we are.”
Nigeria National League to Kick off January 30 Nigeria championship’s second tier, the Nigeria National League,will commence its 2020/2021 Season on Saturday, January 30th, 2021. This decision was reached at the Annual General Meeting of the league,which held in the Ebonyi State capital,Abakaliki on Friday. Chairman of the NNL and Member of the Executive Committee of the Nigeria Football Federation (NFF), Senator Obinna Joseph Ogba and his board presided overproceedingswherethedrawsforthegroupingsand fixtures were made in the presence of representatives
of the 46 teams involved. Dr Ayo Abdulrahaman, Head of the AITEO Cup competition,represented the NFF General Secretary, Dr Mohammed Sanusi, at the occasion. GROUPINGS NorthernConference(A1):El-KanemiWarriors,EFCC FC,NAFFC,OyahSportsFC,RararaFC,SokotoUnited FC, Aklosendi FC, Gombe United FC, Green Berets FC, Mighty Jets FC, FC Taraba Northern Conference (A2):NigerTornadoes FC, Road Safety FC, DMD FC,
Malumfashi FC, Kebbi United FC,Yobe Desert Stars, Zamfara United FC, Kogi United FC, ABS FC, Real Stars FC. Southern Conference (B1):Go Round FC, Stores FC,3SC,Dynamite FC,Delta Force FC,Nilayo FC,Nnewi United FC,Vandrezzer FC,Ekiti United FC, rovers FC, Giant Brillars FC,Akajobi FC. Southern Conference (B2):Bendel Insurance, Joy Cometh FC, Crown FC, J. Atete FC, Apex Krane FC, RemoStarsFC,IbomYouthFC,FCOneRocket,Godosky FC, Bayelsa United FC, Abia Comets FC, Jossy FC, Gateway FC.
SUNDAY JANUARY 17, 2021 • T H I S D AY
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“The truth of the matter is that Nigeria is not in a good shape. Nigeria is the poverty capital of the world today. But it was not seven years ago.”
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– Co-convener, National Consultative Forum, Prof. Pat Utomi rejecting the claim by President Muhammadu Buhari that Nigeria is better now than he met it more than five years ago.
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Drilling against All Odds
I
f I’m honest, there has not been much to cheer about Nigeria in recent times. As someone who always tries to keep a positive attitude towards life — a disposition that makes me celebrate little successes here and there — I’ve found it very hard to cope. The news is always about one abduction or another, Boko Haram attacks, banditry and whatnot. More so, the second wave of COVID-19 is hurting so badly, taking away precious medical personnel and further crushing our extremely stretched and perennially inadequate medical facilities. It has so disrupted the education system we don’t even know when our students will write exams or graduate anymore. It can be overwhelming. The economy? Don’t go there. We have ended up in another oil-led recession. An already struggling economy was hit on all fronts by the pandemic. Oil prices quickly went to the ground. Oil production followed suit. Forex inflow naturally went in tow. The inevitable result of forex scarcity in an import-dependent country such as ours is currency devaluation. Public finance is the biggest victim: we are now borrowing almost every kobo we spend. The little revenue we earn is going almost entirely into debt service. The world’s biggest economies are also in pandemic-induced recession and facing huge public debts, but they are strong enough to withstand the storm. We are not. In this dry season for good news, though, there are still things to cheer. I am delighted at the take-off of the Lagos-Ibadan rail service. In years to come, we will look back and say “thank God we built this rail”. When the Kaduna-Abuja rail — conceived by President Olusegun Obasanjo, started by President Goodluck Jonathan and completed by President Muhammadu Buhari — started operations in 2016, little did we know how important it would become. I am also glad that the Second Niger Bridge project has not been truncated, unlike the Third Mainland Bridge that was abandoned in the Second Republic for political reasons before Gen. Ibrahim Babangida decided to complete it. There is also some cheerful news on the economic front: the acquisition of the 45 percent interest of Shell, Total and ENI in OML 17 by Heirs Holdings and Transcorp through their associated company, TNOG Oil and Gas Limited, which was announced on Friday. It is good news for several reasons. First of all, I thought the deal was not going to be concluded because of the prevailing global economic situation. Where would the finance — about $1.1 billion — come from in this dry season? That was remarkable. As difficult as things are, there are still big players and big financiers who are ready to take a bet on the Nigerian economy as well as the global oil market which has been quite unsteady. It is also a thing of pride that another Nigerian company has taken control of the operatorship of yet another major oil asset. Those who have followed my writings in the last 15 years know that it is something I have been passionate about. We keep talking about “resource control” when, in real life, it is foreign companies that are in control of exploring and drilling the oil. We are only thinking about revenue sharing when we are actually outsiders in the upstream sector. The 45 percent stake acquired by Heirs Holding, chaired by Mr Tony Elumelu, is the
Elumelu joint highest held by a Nigerian company in a JV partnership. This is a good piece of news to celebrate in this dry season. OML 17, located in Rivers state, is a prolific lease with six producing fields. Current production is about 27,000 barrels per day, according to the press statement announcing the deal. There are estimated 2P (proven and probable) reserves of 1.2 billion barrels and an additional one billion barrels (possible). The biggest Nigerian company upstream, as things stand, is Seplat, chaired by Dr ABC Orjiako, which does around 50,000 b/d. Seplat holds 45 per cent stake in the three leases they bought from Shell and 40 per cent in the one they acquired from Chevron. They have a fifth one after swallowing Eland Oil and Gas Ltd. Nigerian companies are benefitting big from divestments. However, it is not enough for TNOG Oil and Gas Ltd to take advantage of the divestment by Shell and its JV partners. The real challenge is to make a success story of it — to prove that Nigerian companies can run things well. Under Mr Austin Avuru, Seplat moved from 20,000 b/d to 50,000 b/d. While I was very sad and embarrassed at the untidy strategic alliance agreement (SAA) between the Nigerian Petroleum Development Company (NPDC) Ltd and Atlantic Energy Drilling Concepts (AEDC) Ltd — run by Jide Omokore and Kola Aluko — which allegedly ripped Nigeria off by billions of dollars, I am proud Seplat has made a success of its own operations. Let’s say the cup is half full. The challenge for Elumelu and his team, therefore, is to make an outstanding success of this golden opportunity. Shell and its partners are exiting onshore production as part of their long-term strategic plan to focus on offshore, but while some will take a dim view of that, I would say I am glad it is a Nigerian company that took over the asset. Shell could put its interest for sale and another foreign company, with all the leverage to attract the necessary finance, would come and take it. But increasingly, Nigerian companies are playing in this field and that has always been my wish. As icing on the cake, TNOG Oil and Gas Ltd must now go and succeed. That will be the biggest statement. Commenting on the acquisition on Friday, Elumelu spoke glowingly of his “very clear
vision” of “creating Africa’s first integrated energy multinational, a global quality business, uniquely focused on Africa and Africa’s energy needs”. He said the acquisition of such “a high-quality asset” with significant potential for further growth “is a strong statement of our confidence in Nigeria, the Nigerian oil and gas sector and a tribute to the extremely high-quality management team that we have assembled”. As an indigene of the Niger Delta region, he added, “I understand well our responsibilities that come with stewardship of the asset [and] our engagement with communities”. I must say that Elumelu is one Nigerian entrepreneur I admire a lot and I have never hidden it. Why? He is not pursuing his own success alone but also wants to make a success of others. This is not something you can easily say of most Nigerian or African billionaires. His initiative, the Tony Elumelu Foundation Entrepreneurship Programme, is reputed as the largest African philanthropic initiative committed to empowering African entrepreneurs and entrepreneurship on the continent. In 2015, he ushered in the “Decade of the African Entrepreneur” by committing $100 million to the entrepreneurship programme “to empower 10,000 entrepreneurs across the continent”. The goal is that the 10,000 entrepreneurs will collectively create one million jobs and generate $10 billion during the 10-year period. So far, the foundation says it has trained, mentored and funded over 9,000 young African entrepreneurs across 54 African countries through its entrepreneurship programmes. It provides capacity-building support, advisory and market linkages to over one million Africans through its digital networking platform, TEFConnect. This is very much in line with Elumelu’s “Africapitalism” philosophy — the idea of positioning the African private sector as the engine for growth and empowerment as well as prioritising social and economic wealth creation. The OML 17 acquisition comes with its own challenges, though. One is the local community dynamics in Rivers state, which might have discouraged Shell and its partners in the first place, but it would appear that was what Elumelu was referring to when he said he is from the Niger Delta and understands “engagement with communities”. There is also a growing global action to reduce dependence on fossil fuels. This is expected to negatively affect the future of crude oil. But many also argue that oil will always be relevant in the energy mix. As of today, it is still the most traded commodity, dusting steel, soya beans, iron, corn, gold, copper and aluminium, among others. I conclude. Yes, the acquisition of 45 percent stake in OML 17 by Heirs Holdings and Transcorp is a major addition to indigenous operatorship in Nigeria’s upstream oil sector. This is some good news in these harsh times, more like riding against the tide. Yes, Elumelu has continued to show ambition as he expands his interests in the economy. I am happy for him. Yes, this is some cheery news at a time we are battling with recession and insecurity in Nigeria. However, my parting shot would be a warning: there is still a lot of work to do. The ultimate is for Elumelu and his team to make a major statement with a world-class performance with this new asset. Fly the Nigerian flag higher!
And Four Other Things… SUPER SPREADERS There has been an alarming spike in COVID-19 cases and deaths in Nigeria since the turn of the year. The timing of the upsurge cannot but be linked to the festive season when Nigerians threw caution to the ocean and went on a partying spree. I understand there was a “big boys” party at a popular members-only club in Lagos and quite a number of those who attended are now COVID-positive, many high-profile casualties. We all need to be reminded that COVID remains on the rampage. Nigerians are not immune — contrary what we think about ourselves. And I will keep saying this: observing safety measures is not just about you; it is also about protecting others. Judgment. TAMING HARM-OTEKUN The rate at which Amotekun — the fledgling outfit set up to tackle insecurity in southwestern Nigeria — has been committing brutality and carrying out extra-judicial killings is becoming very worrisome. It seems there is something oppressive about the average Nigerian who holds a gun or wields some authority to use force. The notion that creating an armed security outfit at state level is the ultimate solution to insecurity is something that needs more rigour. As long as it is Nigerians that will populate and operate these outfits, there are no assurances that anything significant will change beyond the nomenclature. I hope we won’t have #EndAmotekun protests soon. Ominous. BIRDS OF A FEATHER Have you been following the story of how two businessmen, Mr Tunde Ayeni and Capt Idahosa Okunbo, are fighting each other over share ownership in Ocean Marines Solutions Ltd (OMS), a company they co-founded years ago? It seems to me that they outfoxed each other. I know it’s not funny but I just can’t help laughing at the self-incriminating disclosures by both sides. It got more amusing with another interesting story that happened during the week. Mohammed Ahmadu, a suspected kidnapper, was kidnapped by his rivals! He had to pay a ransom of N1.5 million to the rival group, allegedly led by one Buba Babu, before he was released. Birds of a feather. Nigeria! TRUMPED AND THRASHED A week after inciting his political thugs to invade the Capitol and stop the congressional certification of Vice-President Joe Biden’s victory, President Donald Trump was impeached for a record second time by the House of Representatives. Although it is now left for the Senate to convict and remove him from office — and this is unlikely because of time constraint and priorities — it is comforting that the lawmakers have set a precedent all the same. Trump, a far-right president, has written himself into the annals of American democracy. His story will be taught in American history classes in the next 200 years and beyond. He did not come quietly — neither did he leave quietly. Eccentric.
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