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Standard Bank Report Predicts Increase in Reserves Buoyed By Domestic Oil Refinery Operation Says growth potential beset by worsening FX crisis, inflation, insecurity, others Forecasts naira to officially weaken to N1,171/$ by December James Emejo in Abuja A new report has predicted an

increase in Nigeria’s current account surplus to about 1.8 per cent of Gross Domestic Product

(GDP) in 2024, compared to an estimated 1.0 per cent in 2023.

According to the African

Markets Revealed (AMR) report for January 2024, which was published by Standard Bank, oil

production is expected to grow sufficiently to supply the Dangote Refinery with feedstock as well as

impel higher oil export volumes.

Continued on page 5

Atiku to Tinubu: You Owe Nigerians Explanation on $3.3bn NNPC Emergency Loan... Page 5 Friday, January 26, 2024 Vol 29. No 10516. Price: N400

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Lagos Mulls over Investment In Airline Operations... Page 9

Idris:Tinubu Determined to Provide Succour, Revamp Economy NLC: His policies inflicting injuries on Nigerians We have moved from N700 to N1,350/$1 Onyebuchi Ezigbo and Adedayo Akinwale in Abuja Minister of Information and National

Orientation, Mohammed Idris, has assured Nigerians that the vision of President Bola Tinubu was to provide succour for Nigerians,

revamp the economy, and return the country to prosperity.

Idris gave the assurance yesterday in Abuja at the 21st edition of

the Daily Trust Dialogue and Presentation of African of the Year Award, with the theme, ''Tinubu's Economic Reforms: Gainers and

Losers.

The minister appealed to Nigerians to give Tinubu more time to plan and realise his dream

for the country.

But Nigeria Labour Congress Continued on page 5

After S’Court Verdict, Ganduje Woos Kwankwaso,Yusuf, Shekarau to APC Says Kano will have unified one-party state Promises level playing field for new members

Ahmad Sorondinki in Kano National Chairman of All Progressives Congress (APC), Abdullahi Ganduje, yesterday, shocked his political allies and rivals alike, when he called on his estranged principal, Rabiu Kwankwaso; Kano State Governor Abba Yusuf; Senator Ibrahim Shekarau, and other opposition leaders in the state to join his party.

Ganduje, who made the call after a stakeholders’ meeting in Kano, said the idea was to enable APC use its national advantage to bring about a focused and unified one-party arrangement that would favour his native Kano State.

It was a dramatic climb down from his high horse for a man who had for some time displayed haughty and self-righteous attitudes towards opposition leaders in his state, some of whom were his political benefactors.

Holding out an olive branch to members of the opposition Continued on page 5

INAUGURATION OF IWOSAN LAGOON HOSPITAL...

L-R: Managing Director, Iwosan Lagoon Hospital, Victoria Island, Dr. Ayobami Kuyoro; Co-Founder and Chairman, Iwosan Investments Limited, Fola Adeola; Lagos State Governor, Babajide Sanwo-Olu; co-founder, and CEO, Iwosan Investments Limited, Fola Laoye; Co-Founder and Director, Iwosan Investments Limited, Oladapo Oshinusi at the recent Inauguration of the Iwosan Lagoon Hospital, Victoria Island, Lagos

Supreme Court Dismisses Appeals against Fubara, Kefas, Aliyu’s Elections... Page 16

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Atiku to Tinubu: You Owe Nigerians Explanation on $3.3bn NNPC Emergency Loan Says FG likely to repay ‘curious’ loan with $12bn

Emmanuel Addeh in Abuja Former Vice President and presidential candidate of the Peoples Democratic Party (PDP) in last year’s general elections, Atiku Abubakar, yesterday called on President Bola Tinubu to remove the secrecy surrounding the recent $3.3 billion oil-for-debt deal the federal government entered with AfreximBank.

Atiku joins a horde of other individuals and organisations like the Oslo-based Extractive Industries Transparency Initiative (EITI), which on Tuesday demanded more information on the agreement.

In a statement he personally signed, Atiku recalled that the federal government last year, precisely on August 16, 2023

through the Nigerian National Petroleum Company Limited (NNPC) secured the $3.3 billion emergency crude repayment loan, which according to the NNPC, was to help give support to the Naira and stabilise the foreign exchange market.

“The curious thing about this transaction is that up till now, the federal government continues to keep mum about it, and the only information available to the public on the mega deal is coming only through unofficial sources from the NNPC,” the former number two man in Nigeria stated.

The deal, he continued, is supposed to be a crude-forcash loan arranged by the African Export-Import Bank, while according to information

available, a Special Purpose Vehicle (APC) called Project Gazelle Funding Limited incorporated in the Bahamas is driving.

The SPV, Atiku emphasised, is the borrower while the NNPC is the sponsor, with an agreement to pay with crude oil to the SPV in order to liquidate the loan at an interest rate that is a little over 12 per cent.

“What is even more confounding about this deal is why the federal government would register a company in the Bahamas, knowing full well the recent scandal of the Paradise Papers that involved that country.

“Curiously also, Nigeria’s current barrels produced daily is 1.38 million bpd, and according to the Project Gazelle

deal, Nigeria is to supply 90,000 barrels of its daily production, starting from 2024 till it is up to 164.25 million barrels for the repayment of the loan.

“Now, this is where the details get disturbing because Nigeria’s benchmark for the sale of crude per barrel in 2024 is $77.96. A simple multiplication of that figure by 164.25 will give us a whooping $12 billion,” Atiku said.

Atiku stated that it is on this note that he is calling on the federal government to speak up on the “shady” deal.

According to him, it is inconceivable that the federal government will lead the country to take a loan of $3.3 billion with an interest rate that is not more than 12 per cent, but with estimated repayment

amounting to $12 billion.

He maintained that it will constitute a humongous differential of about $7 billion between what is in the details of the deal on paper and what indeed is the reality.

“There are questions to be answered on the integrity of this deal, and we earnestly request the federal government to talk directly on these cloudy details behind the deal.

“We therefore demand, on behalf of the ordinary people of Nigeria, that the federal government provides answers to the following questions: Has the federal government accessed the loan? “ Is the loan in the government’s borrowing plan as approved by the National Assembly? Who are the parties

Atiku to the loan, and what specific roles are they expected to play?

“What are the conditions to the loan, including tenor, repayment terms, the collateral, and the interest rate? And, lastly, why register an SPV in the Bahamas knowing the recent scandal of the country’s notoriety for warehousing unclean assets?,” Atiku queried.

IDRIS: TINUBU DETERMINED TO PROVIDE SUCCOUR, REVAMP ECONOMY (NLC) said the administration’s policies, such as fuel subsidy removal, naira devaluation, and floating of the foreign exchange market, among others, had brought untold hardship on Nigerians.

Idris said some of the palliative measures initiated by the federal government were being implemented, despite initial constraints. He noted that the governors now got about 50 per cent more of what they were getting from the federal government to equally tackle the effects of the fuel subsidy removal.

The minister stated, "The N35, 000 wage award, I know that there were some technical disruptions in the way they were implemented, but I can tell you that the president is committed to ensuring that every

kobo meant for the wage award is paid to entitled federal workers.

The federal government has insisted that it has made a commitment.

"There was also the issue of the palliatives that we talked about. Now, because fuel subsidy almost went away abruptly, there was the need to cushion that effect in the short time. Government is not saying every economic policy will be an emergency one or the one driven by palliative.

"What it sought to address was important that people have an immediate cushion to what was happening before a long term solution was proffered. So, it's not all gloomy; it's not all emergency.

“Of course, if you have an immediate shock, it is important that you have a first aid before a

long term solution is being proffered and that is being done jointly with labour itself."

Idris stressed that when the federal government was making the wage award or providing some succour, it did not stop at the federal level.

He disclosed that every state of the federation was involved because they know where the population reside and all the governors were invited.”

He added, "Today, no governor is not getting an addition of not less than 50 per cent of what he used to get. So, let us also ask the governors what they are doing with those funds.

“It is not only the federal government, the state governments are there. When the federal government gave money for the

immediate purchase of grains, it didn't do it itself, it handed it over to the state governors.

“Monies were given to them, assorted fertilisers were also bought. These were all done by the governors. The approach of Bola Ahmed Tinubu is that of inclusivity.”

The information minister said, "It is important to know the vision of President Tinubu to provide succour to Nigerians and revamp this economy, to return Nigeria to the prosperity.

“I am not saying that seven months is a short time but seven months is not enough cycle for a woman to deliver a pregnancy. So, let's give the federal government a chance, the president is desirous of making life better for Nigerians."

However, organised labour

and other concerned stakeholders disagreed on the consequences of the economic policies of the Tinubu administration.

President of NLC, Joseph Ajaero, lamented that the first three economic policies of the Tinubu administration had inflicted injuries on Nigerians, putting them through a lot of pains.

Ajaero said the situation was getting worse and it would continue to worsen until there was a policy reversal.

He pointed out that the working class and average Nigerians were the losers in the so-called reforms, as indicated in the theme of the dialogue.

He stated, “I am here representing the losers. Tinubu administration, driven by neo-liberal principles, as dictated to it by its two chief

STANDARD BANK REPORT PREDICTS INCREASE IN RESERVES BUOYED BY DOMESTIC OIL REFINERY OPERATION Essentially, a current account surplus means that a country has more exports and incoming payments than imports and outgoing payments to other countries. It is generally seen as a positive development because the current account surplus adds to a country's reserves.

The report, however, highlighted downside risk to the prediction due to the continued oil price weakness following the slowing global growth.

It said, "We forecast downward pressure for goods importation from two fronts.

"Firstly, increased oil refining from the Dangote Refinery and Nigerian National Petroleum Company Limited (NNPCL) would likely lower demand for imported petroleum products.

"Secondly, non-petrochemical goods imports (71.2 per cent of the total import bill in Q2 2023) could be hindered by poor FX liquidity and naira weakness."

The report pointed out that despite the country's growth prospects for the year, downside risks, including the worsening FX liquidity challenges, high inflation, increased insecurity, and lower crude oil production might diminish expectations.

It stated that the Nigerian economy was forecast to grow by 3.4 per cent, year on year in real terms in 2024, relative to an estimated 2.6 per cent for the preceding year.

Standard Bank hinged its optimism on anticipation for the oil sector to deliver 11.8 per cent year-on-year growth in the review period, higher crude oil production, as well as the non-oil sector's growth improving slightly to 2.9 per cent from a 2023 growth estimate of 2.8 per cent.

However, structural issues regarding liquidity and worsening insecurity stood in the way of

actualising the country's growth potential, the bank stated.

Standard Bank said crude oil production, including condensates, was expected to increase significantly to 1.59 million barrels per day (mbpd) in 2024, from an estimated 1.43 mbpd in 2023.

It said the anticipated increase might result from primarily the cumulative impact of the government's ongoing anti-crude oil theft and vandalism efforts, coupled with new production streams.

The Standard Bank report also warned that the manufacturing sector might witness a continuation of headwinds, particularly FX volatility and liquidity challenges, elevated consumer price levels, and rising interest rates during the year.

However, it stated that the commencement of operations at the Dangote refinery should boost oil refining, a sub-sector within manufacturing.

The report predicted the refinery to make up one per cent of manufacturing gross value added, thereby driving growth in the sector to 2.4 per cent year on year in 2024, from an estimated 1.4 per cent in 2023.

It also forecasted the agricultural sector to grow faster in 2024.

It said, “We expect output to increase by 2.2 per cent year on year in real terms (2023: 1.0 per cent year on year), supported by low base effects from previous periods of lower-than-average productivity due to poor weather conditions in food-producing regions.”

In the medium-term outlook, the report predicted higher economic growth for the country, noting, however, that reforms remained a hurdle to achieving desired results.

On the FX outlook, the bank predicted that the naira would weaken to N1, 171 against the US dollar by December this year.

It said, “We see the USD/ NGN pair at 1,171 by Dec 24 in the official market. The CBN is likely to keep gradually clearing its foreign currency obligations with funds from the FGN and NNPC capital raises, shifting FX liabilities away from the CBN, which would liberate FX reserves to support the market and foster investor confidence.

“Until confidence in CBN reserves returns to the market, we forecast only a gradual improvement in foreign private sector inflows.

“Under the new administration, the CBN has undertaken a series of FX reforms to rectify past policy errors. Key reforms include the elimination of multiple FX windows, the termination of the RT200 rebate and Naira4Dollar scheme, the removal of FX restrictions on 43 prohibited imported goods, and the ongoing clearance of outstanding FX obligations.”

It stated that FX reserves declined by 11.2 per cent or $4.17 billion to $32.91 billion in 2023, with inflows still limited amid outflows to finance external

obligations.

Specifically, the report stated that while the federal government received $2.25 billion of the $3 billion loan from AFREXIM, “We doubt that it can securitise $7 billion dividend receipts from the Nigerian Liquefied Natural Gas company (NLNG) for the desired five-year period.

“We infer this from the decline in NLNG dividends to the NNPC in recent years, with averages falling from $1.7 billion during 2007- 2014, to $798.5 million during 2015-2022.”

To boost FX supply, the Tinubu administration announced plans for big-ticket capital raises, including a $1.50 billion World Bank budget support facility, a $3 billion loan from AFREXIM collateralised by future NNPC oil receipts, and a $7 billion securitisation of the Federal Government of Nigeria's (FGN) dividend receipts from the NLNG. The report, among other things, predicted the government’s current account surplus to reach 1.8 per cent of GDP in 2024, up from an estimated 1.0 per cent of GDP in 2023.

It stated that oil production should grow sufficiently to supply Dangote refinery with feedstock as well as impel higher oil export volumes.

Standard Bank said in the report, “However, a key downside risk here would be continued oil price weakness due to slowing global growth. We forecast downward pressure for goods importation from two fronts.

“Firstly, increased oil refining from the Dangote refinery and Nigerian National Petroleum Company Limited (NNPCL) would likely lower demand for imported petroleum products.

“Secondly, non-petrochemical goods imports (71.2 per cent of the total import bill in Q2 2023) could be hindered by poor FX liquidity and naira weakness.

Services imports, accounting for 25 per cent of total imports, declined 14 per cent year on year in H1 2023. We foresee a further decline here, with higher traveling costs dampening demand due to persistent naira depreciation as well as longer, and, therefore, far more costly, travel routes caused by the conflicts in Sudan and Niger.”

priests, or do we call them the twin altars – the World Bank and the International Monetary Fund (IMF) – embarked on a series of economic reforms upon assuming office in May 2023.

"Some of this administration’s key economic decisions since inauguration could be summed up in the following: hike in the price of petrol, devaluation of the naira, freeing the foreign exchange market to merge all the windows, fiscal expansion, and increasing the debt stock through more borrowings "Each time they want to remove subsidy, they will tell you it is to save more money. What are you saving money for? They are borrowing more money, who will pay it? Each time they want to justify subsidy removal, they will tell you, it is to save money. Companies are closing down everyday.

"They are talking about privatisation. 99 per cent of privatised companies have disappeared. And we are sustaining it. You sold your house for N2 million and you give the buyers N10 million to repair it. That is prodigal economy.”

Ajaero added, "It took Buhari eight years to move from N260 to a dollar to N700. In only a short time, we have moved from N700 to N1, 350. It is the masses that are suffering and we are the losers.

“The fact is that inflation weakens the value of every domestic currency and as this happens, since we are still importing refined products, the fabled landing cost is pushed upwards then another lust for further PMS price hike is generated.”

On her part, former DirectorGeneral of the Abuja Chamber of Commerce and Industry (ACCI), Dr Victoria Akai, also said the policies of the present administration were aimed at repositioning the economy.

Akai stressed that one of the effects of the policies was the biting inflation and called for immediate action to tame it. She identified the removal of Nigeria’s foreign currency controls as another move that led to adverse impact on the naira.

AFTER S’COURT VERDICT, GANDUJE WOOS KWANKWASO, YUSUF, SHEKARAU TO APC parties, and inviting them to join the governing APC, Ganduje assured them of a level playing ground for new members, especially in his Kano home state.

The APC national chairman stated, "We can use that advantage to have a good control of the country politically by having a unified focus as a one-party state.

The APC is the largest party in Africa and has resolved to open its arms wide to welcome new members into it.

"There are a lot of developmental projects from the federal government that include the gas pipeline, rail line, and road from Abuja to

Kaduna to Kano that the state, as a commercial centre, will benefit from.

"The party is expecting an inflow of people from other parties to increase the number of people that will join it. We appeal to those who want to join the APC.” He specifically called on his political opponents to come over to the governing party, saying, “We are inviting Governor Abba Kabir Yusuf and his officials to join the APC party.

"We are calling on him with a loud voice and have created an enabling environment for the governor of Kano State and his party to come and join the APC

so that we make a solid and large followership.

"We are the most populated state in the country, let us make use of our population to our benefit and create a large followership in Nigeria.

"The votes of Kano State are very critical for anyone who wants to become a president of the country.

We should utilise that potential to decide who our president will be in the future.

“We work day and night to visualise Kano as a one-party state.

If Kano is converted to a one-party state, it means we can decide for Nigeria and its leadership.

“This will be in favour of the state and the party. Leave the NNPP, and come and join the APC. All the other parties should come and join the APC and make Kano a one-party state.

"We are discussing with them and from the look of things, Kano state will be a one-party state, an APC state."

Present at the meeting were Deputy Senate President, Barau Jibrin; former Majority Leader of the House of Representatives, Ado Doguwa; the 44 APC local government chairmen, as well as the state party chairman, Abdullahi Abbas.

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NEWS

Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 0809 7777 322

BLINKEN VISITS AFRICA RICE HEADQUARTERS IN ABIDJAN… United States Secretary of State,Antony Blinken (left) and President, African Development Bank Group, Dr. Akinwumi Adesina during Blinken’s visit to AfricaRice Headquarters in Abidjan, where he appraised the AfDB's work to improve Africa’s food security.

Nigeria, Morocco Hold Talks to Accelerate Work on 3 Billion Scf/Day Gas Pipeline Emmanuel Addeh in Abuja The Nigerian National Petroleum Company Limited (NNPC) yesterday announced that it had held further talks with its

counterpart from the Kingdom of Morocco to accelerate work on the planned 3 billion Standard Cubic Feet (SCF) per day gas pipeline.

In a statement by the Chief Corporate Communications Officer,

Olufemi Soneye, the national oil company said the meeting was a bid to fast-track the process of achieving the Final Investment Decision (FID) on the NigeriaMorocco gas pipeline.

The discussion, it said, held on Wednesday, January 24, 2024, on the sidelines of a meeting with the Minister of State for Petroleum Resources (Gas), Hon. Ekperikpe Ekpo, and the Moroccan Minister of

FG to Begin Evacuation of 40mw from Kashimbilla Hydropower Plant in Six Months TCN blames gas constraints for worsening power cuts Emmanuel Addeh in Abuja The federal government yesterday said that the entire 40mw Kashimbilla hydropower plant in Taraba state will in the next six months begin full evacuation, distinct from the 10mw it’s currently supplying to the national grid.

When this is done, the government said the grid would get a major boost with the addition of 30 megawatts from the power plant.

The new addition, a statement in Abuja from Bolaji Tunji, spokesman to the Minister of Power, Adebayo Adelabu, said, is expected to facilitate the development of Small and Medium Enterprises (SMEs) in Taraba and Benue states.

Surrounding communities in Taraba State, especially those displaced by the Dam construction, it stressed, are already benefitting from the 10mw currently being distributed directly from the 40mw capacity plant.

Speaking during an inspection tour of the plant in Taraba as well as the 56km, 132KV transmission line from Yandev to Makurdi in Benue state, Adelabu said the Kashimbilla power plant with its “state-of-the-art” technology which includes an automated tracking and monitoring system or SCADA, is now working effectively.

Adelabu who also visited the 132/33KV substation in Amua, Gboko Local government area, Benue state revealed that the four turbines installed in Kashimbilla power plant were working perfectly and generating 100 per cent of the

installed capacity.

The power plant, he said, has an installed capacity of 40mw, but noted that only 10mw is presently being evacuated.

Adelabu said: “This inspection visit is to ensure accelerated completion of the facilities in order to ensure the remaining 30mw is evacuated. We have begun the process and we have the assurance of the contractors that this would be completed within the next six months to one year."

Speaking further, the minister said once the evacuation infrastructure is completed, the four turbines would evacuate the 40mw effectively.

"The moment we are done with the evacuation infrastructure, the stranded 30mw will be evacuated, the entire four turbines will be working at full capacity of 10mw each to make 40mw and this will increase the generation capacity that will be evacuated into the national grid," he added.

Expressing displeasure that 30mw is stranded, the minister said it is not economically good for the country, hence the need to ensure the accelerated completion of the evacuation infrastructure.

Adelabu further stated that more effort was being geared towards improving power generating capacity across the power plants.

"We will also work on strengthening and expanding the capacity of the transmission grid so that as more power is generated, they can actually be wheeled to the grid.

“We are working on the infrastructure so that the Distribution Companies (Discos) have enough to distribute to electricity consumers," the minister noted.

The phase one of the Kashimbilla project which is in two phases, he said, is 100 per cent complete, including 2x60MVA substations in Takumand Wukari Local government areas and 2x7.5MVA substation in Donga local government area, Taraba State.

The phase two includes the construction of the 56km transmission lines, construction of 132/33KVA substation in Yandev, Benue state where the generated power will be wheeled to the national grid.

It also includes the 330KVA substation in Makurdi, construction of 2 x 60MVA substation in Ugba in Benue State, plus the associated switching stations in Zaki Biam, Anyii and Buruku in Benue state.

Also speaking, the Managing Director of Transmission Company of Nigeria (TCN), Sule Abdulazeez, said that efforts were in top gear to make sure that the 132KV transmission line from Yandev to Apir in Markudi, is completed.

"By the time that transmission line is ready, we can evacuate all the power from the Kashimbilla plant," he said.

Speaking on the 2nd phase of the evacuation, the Director, Renewable and Rural Access Department, Abubarka Ali-Dapshima said that the scope of the 2nd phase is to evacuate the 40mw completely

to the grid.

"The beautiful thing about this project is that it is a renewable energy project which has the ability to mitigate the issues of climate change, " he said.

Meanwhile, the TCN has announced that there had been a gradual decrease in available generation into the grid due to gas constraints to the thermal generating companies.

A statement by its General Manager, Public Affairs, Ndidi Mbah yesterday, said this has impacted the quantum of bulk power available on the transmission grid for onward transmission to the distribution load centres nationwide.

“TCN is doing everything possible in collaboration with stakeholders in the power sector to ensure that it continues to keep the grid intact in spite of the current low power generated into the system .

“Consequent upon the current load on the grid, load distributed to the distribution load centres have also reduced, as TCN can only transmit what is generated.

“TCN is committed to ensuring a gradual increase in electricity supply to load centres as gas improves to power available thermal plants.

“Please bear with us as we continue to work with the stakeholders in the value chain to ensure that supply through distribution companies to electricity consumers nationwide improves,” it stated.

Energy Transition and Sustainable Development, Ms. Leila Benali.

It stated that the meeting was anchored by the NNPC Ltd.’s Executive Vice President, Gas, Power & New Energy, Mr. Olalekan Ogunleye, and the Director General of the Morocco National Office of Hydrocarbons and Mines (ONHYM), Amina Benkhadra.

“The talks focused on how to drive the partnership between the two countries to accelerate the Nigeria-Morocco Gas Pipeline Project in line with the series of Memoranda of Understanding (MoUs) signed between the two countries in Abuja in 2022.

“Both parties emphasised the strategic importance of the project to the two countries and the entire African continent and the need to drive it to completion expeditiously in line with the objective of stemming energy poverty on the African continent,” the statement added.

The cooperation agreement for the 48 x 5,300Km pipeline from Nigeria to Dhakia (Morocco) and

1,700km from Dhakia to Northern Morocco, it recalled, was signed in 2017 with a capacity of 30 Billion Cubic Meter (BCM) per year, that is, equivalent of 3.0 billion standard cubic feet of gas per day.

The pipeline is expected to traverse Republic of Benin, Togo, Ghana, Cote d'Ivoire, Liberia, Sierra Leone, Guinea, Guinea-Bissau, Gambia, Senegal, Mauritania, and terminate in Morocco with a spur to Spain.

“Due to the international nature of the project, the ECOWAS Commission is saddled with the responsibility to, among other things, facilitate inter-governmental treaty and host government agreements, establishment of Pipeline Higher Authority, and alignment with AU, UN and other relevant international bodies.

“The project, among other things, will help drive the monetisation of Nigeria’s gas resources, maintain NNPC Ltd.’s energy leadership in Africa, and promote economic and regional cooperation among African countries,” the statement added.

Naira Reaches New Low on Parallel Market to N1420/$1, Slides at Official Market Daily turnover records 103.44% increase

Nume Ekeghe The Naira reached an unprecedented low yesterday of N1,420 marking a 4.03 per cent or N55 decline compared to Wednesday’s closing rate of N1,365 at the parallel market.

Also, the official Investors and Exporters (I&E) window experienced a decrease, concluding at N900.96 yesterday as opposed to N882.24, indicating a 2.12 per cent decline or a N18.72 weakening.

However, the daily turnover witnessed a notable 103.44 per cent surge in a single day. On Wednesday, the turnover was

$56.60 million, while yesterday's turnover reached $115.19 million.

Furthermore, the highest spot rate recorded yesterday was N1,399 compared to N1,313 recorded the previous day. Also, the lowest spot rate recorded yesterday was n789 compared to N700 recorded the previous day.

THISDAY spoke with a parallel market operator who said there has been an increase in demand.

Abdullahi said: “It looks like those people who speculate have started again because we have been getting calls of people buying in thousands causing scarcity which has made the prices go up.”

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NBCC 2024 ECONOMIC OUTLOOK… L-R: Vice Chairman Programmes Committee, Nigerian-British Chamber of Commerce (NBCC), Adenike Ibirogba; Chairman Programmes Committee, Tajudeen Ahmed; Deputy President, Akin Osuntoki; President, Ray Atelly, and Member Programmes Committee, Jumoke Koleoso, during NBCC's 2024 Economic Outlook session held in Lagos… recently

IMF: Six African Countries among Top Ten Global Economic Growth Spots in 2024 Projects Nigeria, S'Africa to pick up

Ndubuisi Francis in Abuja Although Africa faces economic headwinds this year, the International Monetary Fund (IMF) has projected that six of the top-10 performing economies in the world in 2024 are to come from the continent.

This optimistic projection was revealed as part of the IMF’s economic outlook for the region in 2024.

Some of the top performers were Cote d'Ivoire at 6.6 per cent and Tanzania at 6.1 per cent.

The IMF economic outlook revealed that the smaller-sized African economies were expected to contribute significantly to the overall growth trajectory, compensating for the subdued performances of heavyweight nations like South Africa and Nigeria, which jointly account for two-fifths of Africa’s $2 trillion economy.

According to the IMF, while the larger economies face hurdles, the collective vigour of the smaller

nations is anticipated to make a positive impact in a region grappling with persistent poverty and inequality.

However, the report pointed out that their smaller size won’t be enough to make up for less-stellar performances by South Africa and Nigeria, which together account for two-fifths of Africa’s $2 trillion economy.

But collectively, they are helping to make a difference in a region that remains severely challenged by poverty and inequality, it said.

“Sub-Saharan Africa’s growth prospects are brightening. Eight of the region’s top-10 biggest economies – which together account for another 40 per cent of regional GDP – will grow by a strong five per cent on average," said Bloomberg Africa Economist Yvonne Mhango.

It noted that both Cote d'Ivoire and Tanzania have done good job of diversifying their economies and attracting foreign investment.

As a result, the IMF predicted

that regional growth improving moderately to four per cent in 2024 from 3.3 per cent in 2023. And while the two heavyweights were not likely to deliver quicker output in the near term, both Nigeria and South Africa are pursuing reforms that may yield benefits over time.

The IMF forecasted growth in Nigeria picking up to about three per cent this year and next, while South Africa was projected to expand by 1.8 per cent and 1.6 per cent over the two years, up from a tepid 0.9 per cent in 2023.

According to the chief economist for Africa and the Middle East at Standard Chartered Bank, Razia Khan, “Big picture Africa, the external environment is difficult.

But reforms matter, and this will be the crux of the growth turnaround that we expect in both South Africa and Nigeria.”

Nigerian President Bola Tinubu has embarked on aggressive measures to relax the country’s foreign-exchange regime and remove

costly fuel subsidies.

South Africa, hobbled by an energy crisis, is finally making tentative progress on boosting electricity supply, which is expected to continue.

“The important point for South Africa is that we’ve probably reached the turning point. The years ahead should deliver faster growth. And that is under-appreciated," said Khan.

That is despite potential uncertainty before elections this year. The vote, likely to be held in April or May, may cost the ruling African National Congress its absolute parliamentary majority.

But it’s expected to remain the largest party in government and the ballot won’t have a major impact on policy, she said.

Still, analysts remain cautious on Africa’s outlook in the immediate future. The pick-up in growth is coming from a low base after the setbacks suffered by the region during the pandemic, straining public finances and leaving many countries struggling with heavy

AFDB, US Forge Stronger Ties to Boost Food Production Ugo Aliogo

The United States would work with the African Development Bank (AfDB) to identify opportunities to partner with the US State Department’s Vision for Adapted Crops and Soils (VACS) activities and develop an investment strategy In a statement, the US Secretary of State, Antony Blinken and Bank President, Akinwunmi Adesina, highlighted Africa’s efforts to feed itself and the world; while welcoming increased support and investments in African Initiatives.

The statement also noted that United States Secretary of State commended the AfDB Group over the exceptional efforts it was undertaking to help Africa feed itself and the world.

Blinken, who was speaking during a visit hosted by Adesina in Abidjan yesterday said: “Extraordinary work is being done to get to a place where Africa feeds itself and a place where Africa

feeds the world. I’m convinced that can happen.”

The two met at the headquarters of AfricaRice—a pan-African centre of excellence for rice research, development, and capacity building that implements Bank agricultural programmes.

In his remarks, Adesina said: “This is the first time that a US Secretary of State would visit the African Development Bank and its work. Secretary Blinken’s visit is historic and provides great momentum for our work to feed Africa.

“I applaud Secretary Blinken’s strong leadership and commitment to food security and look forward to working closely with him and the US government to advance our joint efforts to support Africa to feed itself and help feed the world.

“I applaud the work President Biden is doing for global food security. I’m delighted with the partnership we have with the US Government to help us move

forward on food security in Africa.”

The AfDB President also lauded Blinken for a new grant of $9.5 million to support the Bank’s Technologies for African Agricultural Transformation initiative (TAAT).

He averred that the grant, which was a part of the larger US Government “Feed the Future” global hunger initiative, would be used for the second phase of the Bank programme called TAAT II, to help African countries increase food production, introduce climatesmart technologies, and expand extension services.

The statement revealed that to date, TAAT has deployed climateresilient agricultural technologies and fertilizers to 13 million African farmers in 40 African countries to help boost the continent’s food production and food security, noting that the USAID grant would help expand the reach of TAAT II further.

Continuing, Blinken said: “The

African Development Bank is making the necessary investments in sustainable production in a smart effective way and along with its AfricaRice programme maximising crops and producing crops that can stand up to climate change.

“I applaud the Bank and your leadership for the powerful and inspiring impact of your initiatives.

You are setting an example for others about how a bank is run.

“The Biden administration was convinced that there is tremendous potential in investing in the production of crops that are climate-resilient and are highly nutritious including some of Africa’s neglected traditional foods.”

The statement noted that the Bank launched the AfricaRice initiative in 2018 to boost rice production, adding that it now has 28 country members across Africa with some 15 of those expecting to shortly reach rice self-sufficiency.

debt burdens.

Those have already triggered defaults in Ghana, Zambia and Ethiopia, with the IMF warning other nations remain at risk, and access to foreign capital markets is effectively closed.

Moody’s Investors Service has a negative outlook on the credit of African sovereigns because of elevated debt-refinancing risks, and because it expects slower growth in China to dampen demand for the region’s commodity exports.

Moody’s Sovereign Risk Group, notes that Africa’s ratio of debt to gross domestic product has risen to 60 per cent on average. That’s back up to the crisis levels of the early 2000s that galvanised debt forgiveness for the poorest nations.

“Many of these countries have been running twin deficits — fiscal

deficits and current-account deficits — in the post-Covid period,” he said.

“They need to access external funding at a moment when you have a wall of maturities coming due.”

Moody’s estimates about $5 billion of Eurobonds would come due in 2024 in Sub-Saharan Africa, with more than $6 billion in 2025.

That doesn’t count debts coming due to bilateral creditors like China or multilateral lenders including the IMF and the World Bank.

The recently released World Economic Situation and Prospects report for 2024 stated that in Africa, growth was projected to increase from 3.3 per cent in 2023 to 3.5 per cent in 2024, with climate crisis and geopolitical instability impacting the region

Eko Disco Chairman Advocates Increased Investment in Power Sector to Mitigate Nigeria's Energy Deficit Peter Uzoho The Chairman, Board of Directors of Eko Electricity Distribution Company (EKEDC), Dr. Dere Otubu, has emphasised the need for increased investment in the power sector to meet the growing energy demand of Nigeria.

Otubu made the call in Abuja at the Nigeria-India Business Council’s (NIBC) organised by the India Trade Mission to Nigeria.

The theme of the forum was: “Expanding Trade and Investment Opportunities Between Nigeria and India.”

The Eko Disco Chairman, who doubles as the Vice President of the NIBC, highlighted the pivotal role that sustained investments play in ensuring a robust and reliable power infrastructure.

He underscored the importance of collaborative efforts between Nigeria and India in driving advancements in the energy sector and in other sectors.

He stated that although progress had been made in reforming Nigeria's electricity industry, more capital investment was required to expand generation, transmission and distribution capacities.

"Nigeria has enormous potential in

the power sector that can be unlocked with sufficient capital injection from investors seeking long-term returns," Otubu noted.

He acknowledged the ongoing challenges faced by the power sector and stressed the urgency of adopting innovative solutions.

"The power sector is the backbone of any thriving economy, and as we witness the dynamic growth in Nigeria, it is imperative to inject more resources into power to bring about the desired growth.

“This will not only address the current energy deficit but also lay the foundation for sustainable economic development," Otubu stated.

Highlighting the market opportunities, he said only about 55 per cent of Nigerians have access to electricity, pointing out that that indicated a room for growth as more consumers get connected to the grid.

He closed by appreciating the NIBC’s Trade Mission for their visit as it will foster a sustainable trade relationship between the two nations.

Other dignitaries at the event included the Minister of Trade and Investment, Doris Uzoka-Anite; Minister of Marine and Blue Economy, Adegboyega Oyetola; and President of the NIBC, Sir Emeka Offor, among other eminent members of NIBC.

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SIGNING OF MOU OF MATCHING FUNDING AGREEMENT… L-R: Minister of state for Youth, Ayodele Olawande; Governor of Katsina State, Dr. Umaru Dikko Radda; Director General of Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr. Charles Odi, during the signing of MOU of matching funding agreement between the agency and Katsina state government in Abuja...

KINGSLEY ADEBOYE

Lagos Mulls over Investment In Airline Operations Sanwo-Olu renders stewardship at Town Hall meeting, lists scorecard in Lagos West Lagos State has mulled the idea of establishing an airline for passenger operations just as the State prepares for the groundbreaking to commence the construction of its own airport in Lekki.

Governor Babajide Sanwo-Olu disclosed the plan, on Thursday, at the Lagos West Senatorial District People’s Town Hall Meeting, where he rendered stewardship and presented a catalogue of achievements recorded by his administration in the West of Lagos.

A former Permanent Secretary and retired Auditor General for Local Government in Lagos, Pa Muhammed Hassan, believed the State was ripe to own an airline; he threw the poser to the Governor.

Responding, Sanwo-Olu noted that the plan had been in the pipeline for months, with the State already finalising the financing model for the project. What is being considered, the Governor said, is the Federal

Government’s approval and operational contingency for the airline.

This drew commendations from the citizens, who attended at the Town Hall meeting held at Balmoral Convention Centre on Sheraton Link Road, Ikeja.

At the no-holds-barred meeting, Sanwo-Olu and his Deputy, Dr. Obafemi Hamzat, mounted the stage to take feedback from the citizens, who asked difficult questions, gave an applause and shared suggestions going forward.

The Governor said the input from the public was necessary to guide his Government’s decision on planned programmes and interventions before their implementation.

Listing projects and interventions taken in Lagos West, Sanwo-Olu pointed out that his administration had completed and opened 42 new roads projects and two flyovers in the District, with the combined length

Dangote Group, NIMASA to Address Operational Concerns at 650,000bpd Oil Refinery, Ports Peter Uzoho The Nigerian Maritime Administration and Safety Agency (NIMASA) and the management of Dangote Group have agreed to set up a working committee to address operational concerns that may hinder seamless functioning of the 650,000 barrels per day capacity oil refinery and within the next 14 days.

The Director General of NIMASA, Dr. Bashir Jamoh, disclosed this yesterday, when a delegation from Dangote Ports Operations, led by its Managing Director, Mr. Akin Omole, paid a courtesy visit to NIMASA. Jamoh, said the agency was committed to ensuring that the business of the Dangote Ports and refinery were not hindered by the implementation of the regulatory instrument under the provisions of the Cabotage law.

The NIMASA boss maintained that the agency would work with Dangote Ports to also ensure that the Group did not breach any regulation of the federal government as regards Wet Cargo afreightment.

Jamoh stated, “I suggested a joint committee with membership from NIMASA and Dangote to sit

down and look at issues objectively.

Our priority is to ensure regulatory implementation does not impede the operations of Dangote Ports and by extension, Dangote Refinery.

“Though the coming on stream of the Dangote Refinery would lead to a drop in NIMASA revenue, because ships importing petroleum products would reduce drastically, thus reducing the three per cent freight levy collected by the Agency.

"However, Nigerian economic growth and long term benefit to the Nigerian masses is far better than immediate revenue for NIMASA.” Corroborating what the NIMASA boss had said, the Managing Director, Dangote Ports Operations, Omole, said his team would ensure that the refinery was not in breach of the Cabotage Act. “We talked about business being done in a way that there is no obstruction, no delay. In shipping, a day’s delay is a huge cost, we have an average of over $50,000 demurrage on a ship per day, so we want to be sure that these kinds of delays are not experienced.

"All bottlenecks, hindrances that will cause the delay will be addressed jointly and collaboratively with our team and NIMASA team,” he said.

of the infrastructure spanning over 72 kilometres.

He said last four and half years had seen Lagos taking a leap forward in its socio-economic and development trajectory, but the Governor said he was resolute in doubling his efforts to keep the State on the sustainable growth path as his second term progresses.

He said: “Over the last five months, Mr. Deputy Governor and I have been working to put a concise plan together for establishment of an airline, but we did not make the plan open because of the need to get adequate knowledge about operational procedures of airlines.

The business plan is viable and there is no issue about financing.

The conversation has gone to an advanced stage but we need to get the proper information on operations before we go ahead to implementation the plan.

“In Lagos West Senatorial District, infrastructure development has been our priority since we came in. Over the last four years, we have completed over 70 kilometres of new roads and over two kilometres of bridges. These include Pen-Cinema Bridge, Ikeja Flyover, and over 42 road we have completed in Alimosho,

Ifako, Agege, Ikeja, Mushin, Amuwo Odofin and Badagry. We also have over 30 ongoing road projects which are at various stages of completion within this district.”

Sanwo-Olu assured Lagosians that his administration would be raising the pace of its development strides, as he pledged to double the efforts to deliver twice the number of projects and programmes achieved in his first term.

The Governor said the senatorial district was also the major beneficiary of the intracity railway development projects of his administration, with Lagos West hosting major passenger hubs of Blue Line and Red Line trains.

He said the new General Hospital being constructed by his administration in Ojo axis was at advanced stage of development, saying its completion would further improve health care access in the district.

To further enhance security and safety in Lagos, Sanwo-Olu disclosed that his administration would be releasing additional patrol vehicles and work gadgets to raise surveillance and capacity of security agencies to respond to emerging threats.

He urged the citizens to be law-abiding and support measures introduced by the Government to maintain law and order. The Governor said it would not be enough to enforce obedience to laws, adding that the Government would ensure laws are fair and just to all.

He said: “We are in talks with you, the citizens, today because we believe the Government does not know it all. The feedback and inputs we are taking away from here will help us to cater for your needs and wellbeing better. On our part, we will strive to make it easier for you to be law-abiding. It is not enough to say the laws must be obeyed, we must also ensure that the laws are clear, fair and just.

“When people break the law and don’t do the right thing, they make governance a lot difficult for us. We must discharge our civic responsibility and fulfil our obligations as citizens.

When we do this, it reduces the cost of governance and saves resources that will enable us do a lot more. While we appreciate your suggestions, we are also encouraging you to ensure that all citizens do the right thing at all times.”

Commissioner for Information and Strategy, Mr. Gbenga Omotoso,

likened the event to an Annual General Meeting where stakeholders in an entity would have opportunity to discuss with the leadership, noting that the move was to engender an all-inclusive government in which citizens would have an input.

He said the Town Hall meeting would have taken off during the Governor’s first term, but for the several unanticipated occurrences, including COVID-19 pandemic, which stalled the plan.

“The conversation continues with the citizens on Lagos project. Today, Lagos West Senatorial District leads the way; other districts will take their turns of the Town Hall meeting where they will have unfettered discussions with the Governor,” Omotoso said.

The meeting was attended by various stakeholders among the Lagos electorate, including members of civil society, political parties’ supporters, people living with disabilities, youth activists, socio-cultural groups, artisans, traders and religious leaders.

Also in attendance were members of the State’s cabinet, All Progressives Congress (APC) leaders and members of Governance Advisory Council (GAC) from the senatorial district.

...Lagos Emerges 19th Best City in the World to Live, Visit, Beats Dubai, Miami Emmanuel Addeh in Abuja Lagos is the 19th best city in the world, according to the latest report of the world’s 50 best cities, which is based on the Time Out Index, created from a survey of more than 20,000 city dwellers around the world, along with its own network of editors.

But the ranking contrasts sharply with the survey carried out by The Economist Intelligence Unit’s 2023 Global Liveability report, which ranked Lagos as the fourth worst city to live in the world.

Writing on the qualities that make a city great, the report noted that some said it was all about buzzing neighbourhoods, affordable food and drink and a mighty selection of things to do, from art galleries and museums to live music and theatre.

Others, it said, highlighted things like the happiness of its locals, access to green space and strong community vibes.

“We factor in all that and more in our annual survey, which asks city-dwellers around the world to tell us what it’s like to live, work and play in their hometowns right now.

“Thanks to the opinions and insights of locals on the ground and our global network of city experts, we’re able to create a global ranking of the world’s best cities – and the 2024 results are in.

“As in previous years, the basis of the ranking remains our global survey of the people who know their city best: the locals. Working with research company Potentia Insight, we surveyed thousands of city-dwellers about the quality and affordability of food, culture and nightlife in their city.

“We also asked locals how their city makes them feel: are they happy there? Is it a beautiful place? Is it easy to make social connections? Their thousands of responses gave us a unique insight into the reality of living

in the world’s greatest cities right now,” the Time Out report stated.

According to the report, each survey respondent was asked which other city they would most like to live in, with polling also involving more than 100 well-travelled Time Out staff writers and editors, based all over the world, for their take on which cities are particularly exciting places to visit now.

On Lagos, the report said: “What makes us great: Whether you’re a staunch mainlander or from Lekki, there’s something for everyone in Lagos, Africa’s most populous city.

Posh Victoria Island continues to deliver a trifecta of swanky resorts, food haunts, and nightlife.

“Lekki is for the brunchers – make Maple Lagos your first stop.

On the mainland, Kuti’s Bistro in Ikeja, owned by the legendary afrobeat family, serves up reliably delicious food and hosts parties, karaoke and games nights.

“And then there are the beaches – hit up Oniru Beach for some fun in the sun, but be sure to bring naira for this private beach.

“For those who live for the night, Hard Rock Cafe Lagos provides a massive indoor-outdoor playground with top artists including DJ Obi (‘Obi’s House’ on Mondays), who set a Guinness World Record in 2016 for a 240-hour marathon set,” it added.

Urging travellers to visit now, the report said both the city and its suburbs are expanding – highlighting a live-work-play concept like Eko Atlantic City.

Just out of town, Epe, on the north side of Lekki Lagoon, it stressed, is experiencing a boom at the moment.

“The town is home to the legendary Oluwo Fish Market, the biggest in Lagos state, where almost all traders are women. Fittingly, there’s a giant two-fish statue in the centre of town.

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AT THE INAUGURATION OF PROJECTS IN IBADAN...

L-R: Former Senate President, Senator Adolphus Wabara; Governor Seyi Makinde; his Osun State Counterpart, Senator Ademola Adeleke and deputy Governor of Oyo, Barr Bayo Lawal, during the inauguration of 8.2km Agodi Gate-OldIfe-Alakia-Adegbayi including the underpass bridge at Onipepeye Area, Ibadan. ... yesterday

Edo Govt: Shaibu Present When Decision on Renovation of Govt House Chapel Was Taken The Edo state government has said that the Deputy Governor, Philip Shaibu, was present at the executive council meeting when the decision to renovate the government house chapel was approved.

In a statement yesterday, the Senior Special Assistant, Religious Matters and Pastor-in-Charge, Edo State Government House Chapel, Osagie Ehrunmwunse, stated that Shaibu had continued to stir controversy over the renovation of the Interdenominational Government House Chapel.

According to him, the deputy governor was trying to use sacred things such as religion to whip up political sentiments.

“In the last couple of days, we have seen posts on social media and various media outfits, suggesting that the state government has shut down the chapel and prevented people from using it as a place of worship.

“Following closely from this narrative, our dear brother, the deputy governor held an outdoor mass with some catholic faithful, clearly showing that he is the mastermind behind the persons circulating the video and the accompanying false commentary, as his actions seek to curiously authenticate their false claims.

It is unfortunate that the deputy governor has embarked on this lowly adventure, attempting to stoke

Abiodun Seeks Lafarge, Other Multinationals’ Support to Reconstruct Abeokuta-Ota-Lagos Expressway James Sowole in Abeokuta Ogun State Governor, Dapo Abiodun has called for the support of Lafarge Cement Company and other multinational companies operating along the Abeokuta-Ota-Lagos Expressway as government makes efforts to reconstruct the ever-busy road.

The governor said reconstructing the road would have multiplier effects on the socio-economic development of the state, while companies who have their base of operations along the route stand to benefit more.

The governor spoke when the management team of Lafarge Africa Plc paid a courtesy visit to his office in Oke-Mosan, Abeokuta.

Abiodun regretted the deplorable state of the road, even as he recalled the various palliative interventions by the Ogun State Government to lessen the pains of motorists.

The governor said although Ogun State had secured the permission of the federal government to reconstruct the road, the cost, which was initially put at about N70 billion, would be in the region of N150 billion or more due to high cost of asphalt, diesel and cement as a result of inflation.

He said, "It is important we sit down and identity what portion of the expanse of that road Larfarge and the likes are going to contribute because the truth is that you are one of the biggest contributors to the condition of that road.

"Your trucks are causing damages to the road. They are carrying cement and raw materials, and most of those trucks are even over-capacitating the

design of the road."

Abiodun called on the management of Lafarge to use global best practices in disposing industrial waste in their areas of operation.

Acknowledging the company's longstanding commitment to the local economy, Abiodun emphasised the crucial role of collaboration with the private sector in addressing the challenges of sustainable economic growth and job creation.

He also commended Lafarge for its impact on industrial activities, providing valuable employment opportunities for residents and fostering skills development.

Lafarge's Corporate Social Responsibility initiatives, including investments in education, healthcare, and community infrastructure, underscore its dedication to enhancing the quality of life for Ogun State residents, the governor added.

He noted that the collaboration between Lafarge and the Ogun State Government enhanced the resilience of the state during the COVID-19 pandemic.

Responding, the Chief Executive Officer (CEO) of Lafarge, Mr. Lolu Alade-Akinyemi, highlighted the company's 64-year history of contributing to the economic growth of the Ewekoro axis.

The Lafarge CEO said: “Lafarge is part of the Holcim Group, one of the world’s leading building materials giants. A commitment to the sustainable development of every community and every country in which we operate is fundamental, non-negotiable principle in our business.”

religious animosity to embarrass the government, in which he serves,” he stated.

According to him, Shaibu was present , as shown in the exco extract at the 57th exco meeting held on November 1, 2023, when approval was given for the renovation and remodelling of the government

house interdenominational chapel.

“He served as vice chairman of the council in that meeting. The project is being handled by the Edo State Public Building and Maintenance Agency,” the state government added.

The government insisted that Shaibu had full knowledge of

government’s action to renovate the chapel but rather preferred to act out a script to stir religious animosity in the State.

“But this is indeed mischief taken too far. We advise him to deploy these efforts being used for mischief to his political aspiration and not use sacred matters as materials for

his campaign.

We believe that many things may be permissible in politics but not profaning God’s name for the purpose of gaining cheap sympathy and trying to blackmail the government in which he serves as the number two citizen of the State,” Ehrunmwunse said.

Excitements as OSSAP-SDGs Unveils 100-bed Hospital in Kebbi Oghenevwede Ohwovoriole in Abuja The Office of the Senior Special Assistant to the President on Sustainable Development Goals (OSSAP-SDGs) yesterday handed over a state-of-the-art 100-bed Mother and Child Hospital to the state government for the use of several communities.

The hospital, which was commissioned by the Governor of Kebbi State, Dr. Nasir Idris, in Tsamiya village is one of the over 40 units of 100-bed Mother and Child Hospital constructed and

fully equipped across the country by the OSSAP-SDGs. In his remarks, Idris showered encomiums on the SSAP-SDGs, Princess Adejoke Orelope-Adefulire, for delivering the laudable project in Kebbi state and President Bola Tinubu for his unwavering commitment to improving the health sector.

He added that the project would help in reducing child and maternal mortality as well as improve maternal health within the state and by extension the neighbouring Benin Republic.

Idris, while expressing his

gratitude and commendation to Orelope-Adefulire, noted that the hospital will cater for the teaming population in the area, which had hitherto been underserved.

This, he said is in consonance with the people-focused disposition of Tinubu’s administration.

He added that the state government would build staff quarters to support the services at the hospital and as well as help mitigate the accommodation challenges that may be encountered by the doctors and nurses that will be encouraged in the hospital.

In her remarks, Orelope-

Adefulire said that the hospital was built and equipped to international standard.

She added that like others built across the country, the facility is fully equipped with state-of-the-art medical equipment.

According to her, the facilities include an operating theatre, labour rooms, recovery rooms, children Intensive Care Unit (ICU), private and general wards, scanning room, consultation rooms and laboratory.

Others include, ultra-scan machine; vacuum extractor delivery set; and an emergency cart with full complements.

Work on Abuja-Kano, Lagos-Ibadan Highways to Step Up as Tinubu Approves Immediate Funding Emmanuel Addeh in Abuja The ongoing work on the AbujaKaduna-Zaria-Kano and LagosIbadan highways as well as two bypasses on the Second Niger Bridge, will intensify in the coming weeks after President Bola Tinubu’s has directed the immediate release of funds for the projects.

The Minister of Works, Senator David Umahi, who disclosed this during an inspection tour of the Lafia bypass road and ‘dualisation’ of the 9th Mile (Enugu)-Otukpo-Makurdi road project in Makurdi, said that the president’s directive was meant remove any impediment to the quick completion of the three projects.

It was learnt that the 260-kilometre road is being jointly funded by the Export-Import Bank of Nigeria, which is handling 85 per cent of it, while the federal government is taking a counterpart funding of 15 per cent.

The minister, who had earlier inspected the Mararaba-Keffi reconstruction and expansion project,

said the project being carried out by China Harbour Nigeria Limited will be delivered in 48 months.

"We want to assure you that from today, things will be happening, you will be happy with the progress. I want to thank Mr. President that about three days ago, he approved that work should immediately commence in many sections of the Abuja-Kaduna-Zaria-Kano.

“It is cheering news for me because we were having some problems with funding, but the president has solved the problem and directed for the immediate release of funds so that the road will continue. " It’s the same thing with the Lagos-Ibadan highway and the second Niger Bridge two bypasses," he added.

Umahi laudsd the Benue State Governor, Hyacinth Alia and his Enugu state counterpart, Peter Mbah for settling up taskforce committees to provide security on the sites of the project.

The minister further stated that there was the need for a flyover at the beginning of the road project to reduce the traffic jam around the area to ensure the convenience of commuters.

"We noticed that there is a lot of hold-up around the beginning of the project, so I have asked them to study it, because the essence of governance is for the convenience of the people. So, if we have a lot of hold-ups there, people can’t plan.

So we have directed that we should have a flyover at the location to ease it.

"So, the road from Keffi to Makurdi has been completed and we are going to toll it. But for some modifications, we have asked the China Harbour Engineering Company to provide the service station,” he added.

While also inspecting the Mararaba-Keffi highway earlier, Umahi called for its redesign to accommodate a flyover at the Mararaba corridor, saying that

the move would ease the daily commute of citizens that reside along the corridor.

He stressed that the road which was being funded by the Nigerian National Petroleum Company Limited (NNPC) under the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme.

Also speaking, Alia who accompanied the minister to the project site, commended the president for accelerating work on the project.

He said: "From Abuja to Makurdi, the journey was four and a half hours but with this new road, it takes us three hours. That is going to help our businesses and help us to plan on plying on the route. We thank you for the pains you have taken for being here yourself.

"From this axis to Otupko, instead of taking one hour it will take you two hours, but rest assured of our continued support and collaboration which we need to do for the smooth running of the project will be done.”

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LAGOS WEST PEOPLE’S TOWN HALL MEETING...

R-L: Governor of Lagos State, Mr. Babajide Sanwo-Olu; his Deputy, Dr. Obafemi Hamzat; member, the State House of Assembly, Hon. Olukayode Ogundipe; Secretary to the State Government, Barr.

Abimbola Salu-Hundeyin; Head of Service, Mr. Olabode Agoro and Chief of Staff to the Governor, Mr. Tayo Ayinde during the Lagos West Senatorial District People’s Town Hall meeting at Balmoral Convention Centre, Sheraton Hotel, Ikeja... yesterday

Supreme Court Dismisses Appeals against Fubara, Kefas, Aliyu’s Elections Rivers governor restates commitment to governance PDP governors, Tonye Cole hail verdict Chuks Okocha, Alex Enumah in Abuja, Blessing Ibunge in Port Harcourt Relief came the way of three governors yesterday, as a five-member panel of the Supreme Court dismissed the appeals challenging their declaration as governors.

The governors whose seat were retained by the judgments of the apex court were; Siminalayi Fubara of Rivers State, Agbu Kefas of Taraba State and Ahmed Aliyu of Sokoto State.

The affirmation has brought the number of governors whose election in the 2023 general elections were affirmed by the courts to 20.

Although, the governorship election took place in 28 states of the federation, only 21 states' cases got to the apex and the only pending case is that of Adamawa State, between Senator Aishatu Dahiru Benani of the All Progressives Congress (APC) and Ahmad Fintiri of the People's Democratic Party (PDP).

Delivering judgments in separate appeals against the governors, the apex court noted that the appellants were not convincing enough to have judgments delivered in their favour.

Rivers State Governor In the first case to be decided, the five-member panel in the lead judgment delivered by Justice Ibrahim Saulawa, affirmed Fubara's election shortly after it dismissed the appeal by Mr. Tonye Cole of the All Progressives Congress (APC) for being incompetent and lacking in merit.

According to Saulawa, the appellant did not prove his allegations of overvoting, non-compliance as well as non-qualification of Fubara to contest the election.

"This appeal is grossly lacking in merit and liable to be dismissed and it is accordingly dismissed", Justice Saulawa held.

The apex court subsequently affirmed the concurrent judgments of the two lower courts which earlier dismissed the appeal for lacking in merit.

Cole, in his appeal had asked the apex court to reverse both the Court

of Appeal and tribunal judgments which had upheld the declaration of Fubara of the PDP as winner of the March 18, 2023 governorship election in Rivers State.

He insisted that the lower court erred in law when it agreed with the Rivers State Governorship Election Petition Tribunal that he did not prove his allegations against the governorship poll.

Cole had urged the apex court to allow his appeal and grant the reliefs sought which included the setting aside of the concurrent judgments of the two lower courts and declared him winner of the March 18 governorship election in Rivers State.

The Independent National Electoral Commission (INEC) had declared PDP's Fubara as governor having won majority of the lawful votes cast at the governorship poll.

Dissatisfied, APC and Cole citing alleged irregularities, non-compliance with the Electoral Act, corrupt practices amongst others, had asked the tribunal to void Fubara's election as governor.

Besides they had claimed that Fubara was not qualified to contest the election over alleged violation of the law because he had allegedly continued to sign documents as the Rivers State’s Accountant-General despite been nominated governorship candidate of the PDP. But, the tribunal in a unanimous judgment held that the allegations were not proved to warrant the grant of the reliefs sought and subsequently dismissed it.

Dissatisfied, Cole had also approached the appellate court to reverse the judgment of the tribunal, but was told he did not advance any cogent reason to warrant the Court of Appeal to deviate from the findings and conclusion of the tribunal.

While the candidate of the Labour Party (LP) withdrew her appeal shortly after it was filed, the apex court had last few days ago, dismissed the appeal by the Allied Peoples Movement (APM).

The appeal was dismissed following its withdrawal by the APM's counsel Confidence Kere.

When the case of the APM was called its counsel, Kere attempted

to adopt and argue its client's case, however Kere was cut short by the panel led by Justice Kudirat Kekere-Ekun, who pointed out that the APM lacked the legal standing to institute the appeal on the grounds that it did not take part in the actual election. Kere subsequently applied orally to withdraw the appeal and since the respondents did not object to the withdrawal, the apex court subsequently dismissed it.

However, reacting to the Supreme Court judgement, Fubara vowed to rededicate himself to governance.

This was as civil servants and residents of the State declared celebration and parties over the victory.

The governor who spoke immediately after the delivering of the government by the Supreme Court in Abuja, expressed his resolve to remain committed to the purpose for which he was elected, stressing

that he would not allow anything to distract governance.

Fubara said his triumph at the Supreme Court has laid to rest the legal battles that added to the distractions his administration grappled with in the last eight months.

"About an hour ago, the Supreme Court revalidated our mandate in the election. It is a victory for the entire State. It is important for us to note that we need this victory to consolidate the purpose of governance.

Prior, we have had a few distractions here and there.

"And the good news that came to us this morning is a refreshing strength that will encourage us to continue the good works in governance," he added.

Fubara, expressed gratitude to God for His help and to President Bola Tinubu for his fatherly role concerning the internal crisis and the litigation

against his election.

The governor also extended gratitude to the Minister of the Federal Capital Territory (FCT) whom he described as his "Oga" for all his support.

He, however, called on everyone to join hands with his administration to build a competitive State that would be reckoned with as truly prosperous in all ramifications.

"We have a dream of making it a highly competitive State that will measure, if not up to Lagos but close to becoming like Lagos. We can only achieve this in an atmosphere of peace.

"So I am calling on everyone, not just on our internal issue but those members from other parties, the issue is settled, come and let's build the Rivers State of our dream.

“We will continue to protect and provide the basic needs of governance to everyone who is doing business

and who lives in Rivers State," he added.

Also reacting to the Court judgement, Tonye Cole extended hands of fellowship to Fubara, while congratulating the governor on his victory at the Supreme Court yesterday.

Cole said he was a committed democrat and would respect the rule of law. He further commended Fubara for his victory at the Supreme Court after months of legal battle.

Cole expressed, "My dear people of Rivers state, I acknowledge the recent Supreme Court pronouncement of Governor Siminalayi Fubara's victory in the governorship election. As a committed democrat, I respect the rule of law and therefore pursue the electoral process diligently.

Continued on page 19

Court Remands Five in Kuje Correctional Center over Burning of Rivers Assembly Complex Alex Enumah in Abuja Justice Bolaji Olajuwon of a Federal High Court, Abuja, yesterday, ordered the remand of five persons at the Kuje Correctional Center, Abuja, over their alleged complicity in the burning of the Rivers State House of Assembly complex in Port Harcourt, Rivers State.

The court ordered their remand shortly after their arraignment on a seven-count criminal charge bordering on terrorism and murder.

Although, they pleaded not guilty to all the charge, the judge however, ordered that they be remanded at the Kuje Correctional Center, pending the hearing of their bail application fixed for February 2.

The five defendants are Chime Eguma Ezebalike, Prince Lukman Oladele, Kenneth Goodluck Kpasa, Osiga Donald and Ochueja Thankgod.

In the 7-count charge, the defendants were accused of terrorism offences by invading, vandalising

and burning down Rivers State House of Assembly during the wake of political crisis that rocked Port Harcourt in October last year.

Beside allegedly burning down the State House of Assembly, they were also accused of killing a Superintendent of Police, (SP) Bako Agbashim and five police informants at Ahoada community of the state.

The police informants alleged to have been killed are Charles Osu, Ogbonna Eja, Idaowuka Felix, Paul Victor Chibuogu and Saturday Edi. Government also accused them of using various cult groups, namelySupreme Viking Confraternity, Degbam, Iceland and Greenland to unleash mayhem on the people of the state and their commercial activities.

However, when the charge against them marked FHC/ABJ/ CR/25/2024 was read, they all pleaded not guilty to the offences.

Although, the immediate past factional Speaker of the Rivers State House of Assembly, Hon Edison

Ehie, was not listed in the 7-count terrorism charges, he was however represented in court by a Senior Advocate of Nigeria (SAN), Oluwole Aladedoyin on the grounds that his name featured prominently in the alleged offences.

He challenged the allegations that he was at large alongside other suspects.

Justice Olajuwon did not however allow further arguments on the grounds that he was not yet a defendant in the charge.

Shortly after the arraignment, the leader of the prosecuting team, Audu Garba applied for a date for full blown trial of the defendants.

However, a Senior Advocate of Nigeria (SAN), Lukman Fagbemi, who stood for Chime Eguma Ezebalike and Lukman Oladele, who are 1st and 2nd defendants, sought to move applications for their bail on the grounds that they have been in the police custody since last year.

The government lawyer, Audu

Garba vehemently opposed the application on the grounds that he had just been served with the bail applications and needed time to study them and file counter affidavit.

Justice Olajuwon agreed with the prosecution lawyer that the bail applications were not ripe for hearing and fixed February 2 for hearing of all bail applications.

Pending hearing and determination of the bail applications, the Judge ordered that the five defendants be taken to Kuje Prison on remand and be returned to court on the adjourned date.

Specifically, the defendants were alleged to have on October 29, 2023, at Moscow Road in Port Harcourt, conspired to commit acts of terrorism by willful destruction of public properties by invading, attacking, destroying and burning of the Rivers State House of Assembly, an offence punishable under section 26 of the Terrorism Prevention and Prohibition Act 2022.

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POLITICS

Acting Group Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com 08033025611 SMS ONLY

Bello’s Eight Years of Service to Humanity in Kogi Ibrahim Oyewale writes that Governor Yahaya Bello has made much impact in his eight-year tenure in the Confluence state despite the general perception and opinion of his perceived political opponents.

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n January 27, 2024 to be precise, the administration of Governor Yahaya Adoza Bello will come to an end and pave way for that of Ahmed Usman Ododo who had won the November 11, 2023 governorship election on the platform of the All Progressive Congress APC in Kogi State.

Bello who ventured into the state political landscape in 2015 contested for governorship primary election on the platform of the APC culminating in his becoming number one citizen of Kogi State on 27th of January 2016. The rest is history. Bello has come, saw and conquered, most importantly, he has etched his name in gold following his spectacular performance in the last eight years.

Notwithstanding the critical circumstances that brought him in as the Governor of Kogi State and litany of opposition, Bello however navigated through thick and thin in the past eight years and berthed in style with numerous successes achieved in the State.

Shortly after taking oath of office on January 27, 2016, the new administration which was tagged a “New Direction Administration” led by the young Yahaya Bello highlighted thematics areas for the government such as security of lives and property, health, education, civil service reforms and provision of infrastructures across the length and breadth of Kogi State.

Motivated by a desire to address underdevelopment in Kogi state, Bello constituted a screening committee to look at the various crises rocking the engine room of government - the Civil Service - with the aim of repositioning it. The exercise was greeted with opposition from the labour union and characterised with a lot of noise particularly fron the workers.

By and large, Bello’s administration succeeded in weeding out the bad elements and was able to raise Kogi Civil Service to a bar comparable with any State in the federation or ever more better.

This singular act has not only fetched the state accolades and receipient of international awards as the most transparent state and also for adhering strictly to Budget principles. He was also able to determine the monthly wage bill for the State against hitherto ever increase in payment of huge monthly bill .

No doubt about the fact that before the advent of Governor Bello’s administration in Kogi State, the State was known as a flash point for all forms of criminal activities such as armed robbery, kidnapping, cultism and killings.

But on assumption of office, Bello swung into action by declaring zero tolerance for crimes in the state and asked the criminals to relocate to another place as Kogi would no longer be a safe destination for them.

He marched his word with action as he donated over 150 Hilux vans to the forner Inspector General of Police, Ibrahim Idris Kpotun, to combact crimes in the state.

Not only that, he was determined to ensure the setting up of Joint Security Task Force in the state comprising all the security agencies in Kogi State in collaboration with the State government to reduce the rate of crime.

For taking critical steps to stem the high tide of insecurity in Kogi and Nigeria at large, the then Inspector General of Police, Ibrahim Kpotun recognised Bello’s efforts in fighting insecurity and subsequently became the first Governor to be so honoured with Nigerian Police award as best Governor on Security.

In the area of Agriculture, it is a known fact that Kogi is an agraian State and in line with the determination to ensure food security in the State, the Bello-led administration established the largest Rice Mill at Ejiba with capacity to employ over 2000 workers as the project also targetted to move unemployed youths out of the street .This is in addition to various agricultural programmes initiated by the new direction administration in the State.

The Health sector’s services delivery was second to none in Kogi State under the leadership of Bello in the past eight years as it received financial boost.

Having realised the importance of well-

in Anyingba. Government also upgraded the General Hospitals at Adogo in Ajaokuta Local government and Isanlu in Yagba East Local government area of the State and similarly established new General Hospital at Gegu in Kogi Local government area.

Just like the health sector, Governor Bello’s administration also made an indelible mark on the sound of time in the education sector of the State Apart from the fact that model primary and secondary schools were established across the state, it is incontrovertible fact that Bello was the first governor to establish two Universities within the four years of his second tenure in office. These are legacy projects which would outlive the administration and many citizens would live to remember.

As part of efforts to provide manpower for the growth and ever increase in the technological revolution across the globe, Governor Bello approved the establishment of the Confluence University of Science and Technology at Osara in Adavi local government area of the State during the Covid 19 era in 2020.

His Administration also championed a ‘New Direction’ agenda to promote development in Kogi State. The “New Direction Blueprint’ utilized the United Nations Sustainable Development Goals (SDGS) to address multidimensional poverty and leadership. The State received recognition at the 72nd United NationsAssembly (UNGA) for its successful implementation of the SDGS ness of the people of the State and in a bid to discourage medical tourism abroad, Governor Bello established a gigantic Reference Hospital

in Okene equipped with modern medical facilities, while he rehabilitated the Prince Abubarkar Audu University Teaching Hospital

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

Gusau: Solemn Moment for Lost Brother, Friend, Colleague Stanley Nkwocha pays tribute to ace journalist and former media adviser to Vice President Kashim Shettima, Mallam Isa Gusau, who passed on recently in London after a brief illness.

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hese aren’t the best of times for me.

Life really dealt me a devastating blow when I lost my mother and as I write this I am on my way to Owerri, Imo State, to lay her gentle soul to rest. However, all thanks to Vice President Kashim Shettima whose words of encouragement and support went a great deal in calming me.

Just as I was coming to terms with my loss, the unbelievable happened. The shocking news of the passing of my brother and friend, Isa Gusau, sent me back into an overdrive of agony and pain. The moments between that fateful day when I received news of his demise and subsequent calls confirming it were emotionally petrifying. Everything that transpired in that space of time seemed like an illusion to me.

I and SA, as I fondly called him, have been friends for almost 15 years. The relationship was not just that of friends. We were each other’s ‘Man Friday’. Our kids related well too, as we always paid each other visits whenever he was in Abuja. He loved to come over for a table tennis game, which we were fond of playing at a time.

Coincidentally, it was the Vice President who formally introduced us while he was a cabinet member back then in Borno State.

As a correspondent with LEADERSHIP Newspaper, I remember vividly my conversation with now Vice President Kashim Shettima on one occasion. “Stanley, how are you?” The Vice President, then a commissioner, had asked. “Absolutely fine Sir. And you?” I replied. “I am fine. Are you friends with Isa Gusau of Daily Trust? He is a nice gentleman. You guys need to be friends. He will call you later,” VP Shettima added, with an air of spontaneous curiosity.

And that connection became an eternal bond and friendship.

It was not about the professional relationship that we shared. It was about the most reliable confidante we both became to each

other, the unalloyed brotherliness and care.

Isa Gusau was one of the very few persons in this life I could open up to, and express my pains and worries.

He too never concealed any issue from me.

We advised each other passionately. In fact, he made my relationship with the Vice President so seamless, while ‘Oga’, as we fondly called him, was Governor. He would always speak kindly of me, and with time we both earned the trust of the VP. Indeed, Gusau was remarkable.

I learnt a lot from SA. To date, I am yet to meet someone who could match his articulation of strategies. As a master strategist, whether in a private or official capacity, Gusau was unbeatable. He was that genius I always wanted to listen to and learn from. I can never repay him for the things he taught me. His fountain of knowledge was as deep as the Nile River.

I have been praying that his demise is all a delusion. But, alas, it is no longer a cruel hoax; SA is gone. My blood from another mother is gone.

I had to force myself to write this, as each time I tried to scribble something, words kept failing me, saddled with my present ordeal.

Eventually, however, I have come to terms with reality. I have run out of denial, and there’s no shying away from the bitter truth

at this point.

How does one express the amazing essence and spirit of Isa Gusau, his selfless generosity, uncompromising belief in all that is good, and unwavering commitment to family and friends?

Words, even the very best of terms, cannot pay tribute or truly capture the sense of loss that I feel. As much as I try, the loss is there - palpable and real within me. But his exemplary life, love, as well as belief and faith in seeing the best in everything was irrepressible.

As I honour him by profoundly feeling and expressing my deepest feelings, I also remember Gusau as an amazing person who has played a unique and special role in not only my career but virtually all aspects of my life. Just as my boss, His Excellency, Vice President Shettima, pointed out in his article in which he journals his personal experience with the late Gusau, who also served him meritoriously as Media Adviser, his passing is not merely a loss for the Shettima and Zulum administrations he served with such distinction, but a profound eclipse for the wider journalistic landscape and the very fabric of public discourse in Nigeria.

Isa Gusau’s legacy transcends the confines of a mere job title. He was not just a Special Adviser; he was a symphonic blend of an astute journalist, strategic thinker and eloquent communicator.

His words, crafted with precision and imbued with a keen understanding of the human condition, served as a bridge between the complexities of governance and the aspirations of the people. He was, in essence, a translator of hope, weaving narratives that both informed and inspired.

-Nkwocha is Media and Communications Assistant to the Vice President NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY • FRIDAY, JANUARY 26, 2024

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FOCUS

Pipeline Contracts and Ethnic Blackmail Tajudeen Suleiman

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t’s a habitual fancy in most multi-ethnic and multireligious countries like Nigeria, that unscrupulous individuals or groups would seek to take advantage of the fault lines to advance their narrow and selfish interests. This is certainly the case with a group(or individual) which called itself Niger Delta Forum For Truth And Justice, whose president(if there’s anyone by that name) bears Chief Ejiroghene Marere.

In a paid newspaper advertorial published Thursday, Marere attacked Mrs Oritsemeyiwa Eyesan, the Vice President, Upstream Operations of the Nigeria National Petroleum Company Limited, for a pipeline contract awarded to Pipelines Infrastructure Nigeria Limited (PINL). According to Marere who claims to be speaking for the Urhobo people, the PINL is owned by the Olu of Warri, Ogiame Atuwatse III, and since Mrs Eyesan is Itsekiri, she must have influenced the award of the contract to favour her monarch!

In the first place, the allegations in the publication are speculative. The author did not have the correct information on what he wrote about. The Olu of Warri is not the owner of PINL. If he’s a serious-minded person not consumed by ethnic bigotry, he could have done a little research to know the owners of the company.

Instead, Marere employed the all too familiar strategy of spewing lies, half-truths and using dubious data to back his narrative. It is the perfect game plan of blackmailers: back up lies with fake data to get public sympathy and government attention.

Marere stated that a total of 112 incidents of oil theft occurred along the stretch covered by the PINL in the last quarter of 2023! How did Marere get his information because there’s no official statistics on this? Was it his group that perpetrated the criminalities?

Let us even assume the figure is factual, why did Marere choose not to mention the successes recorded by the NNPCL in combating oil theft? In a documentary posted on its X handle on January 2, the company disclosed that in the last week of December alone, 42 illegal refineries were discovered and destroyed across Bayelsa, Imo and Delta state. It also revealed that 14 illegal connections and 10 cases of vandalism were discovered in the period.

Mrs Oritsemeyiwa Eyesan, the Vice President, Upstream Operations of the Nigeria National Petroleum Company Limited Similarly, in a statement on January 23, NNPCL revealed that from Jan 13 to Jan 19 , a total of 72 additional illegal refineries were uncovered across the Niger Delta. Aside the Command-and-Control unit of the NNPCL, those responsible for the discoveries are the oil pipeline contractors which include Maton Engineering Nigeria Limited, Tantita Security Services and PINL. Those are just the most recent discoveries. The NNPCL also said earlier this month that a total of 10,166 illegal refineries and crude oil connections were destroyed since 2021. This is in spite of the dangerous operating environment created by oil thieves who engage security agents in gunfight and shoot at surveillance helicopters. Is it not to

Mrs Eyesan’s credit that pipelines surveillance is yielding fruitful results for the country?

To overlook such accomplishments on the basis of where she comes from a disservice to the Niger Delta in particular, and to Nigeria in general. To suggest, like Marere did, that a public officer overseeing such a volatile sub-sector of the industry is incompetent and corrupt because one of the surveillance companies under her watch is allegedly owned by her tribesman is cruel and barbaric.

Such a proposition economizes the truth and it’s the equivalent of what is called in local parlance “bad belle.” Marere knows his claim is not based on evidence, but a deliberate lie to achieve a preconceived agenda.

His claim that the NNPCL is set to offer the PINL a new contract exposes his motive and shows his desperation. Is Marere’s company also bidding for the alleged contract? Is the sponsored attack a ploy to frustrate PINL from getting a renewal of its contract? Is Marere’s company or those he represents likely to benefit if PINL’s contract is not renewed? It’s easy to answer all the questions in the affirmative after reading the newspaper advertorial.

His claim that “large quantum of oil production from Urhobo territories of Delta State, the ethnic group has never been factored for engagement in the pipelines surveillance contract award” is ill-motivated. Bringing Urhobo situation into the argument is a pathetic attempt to ethicize his parochial interest and dress his self-serving agenda in populist gab. Mrs Eyeson was not given her current role because she’s Itsekiri nor are companies awarded surveillance contract because of who owns them and where they come from. A company is a legal entity different from its owners.

Under the current Chief Executive Officer of the NNPCL, Malam Mele Kyari, contracts are won through competitive bidding. They may be renewed based on performance assessment and not sentiments. Kyari demands performance from his team and Mrs Eyesan, just like other members of his team, will not sacrifice excellence for mediocrity.

I have it on good authority that Mrs Eyesan does not even have any personal relationship with the

Olu of Warri to warrant any linkage. I’m sure the Olu of Warri himself would be amused at the ignorance of a man who claim to lead the enlightened people of Urohbo in the Niger Delta. Even among the Urhobo people, it is a sacrilege to lie against an innocent person, not to talk of a monach. If Marere wants an oil pipeline surveillance contract, he should bid for it and not pour his anger on an innocent public servant and the Itsekiri people.

As the VP Upstream Operations, Mrs Eyesan does not have the final call to engage a contractor involved in such sensitive national assignment as oil pipelines surveillance. Such decisions are collectively made after due diligence by relevant authorities. Such award of contracts cannot be made without the input of the president who also doubles as Minister of Petroleum Resources. Thus, to impugn the integrity of Mrs Eyeson because she’s the same ethnicity with the owners of a company engaged by NNPCL is deplorable and unfair.

It is cheap blackmail.

Marere should not ride on the goodwill of Urhobo people to advance his personal cause. Urhobo people are well represented in the government and know the proper channels to air their grievances if any. I’m certain that attacking the hard-earned reputation of a diligent public servant to promote personal agenda in the guise of ethnic interest is detestable to all decent people, including the Urhobo people Marere claimed to represent.

I implore the security agencies to consider Marere a person of interest. He threatened to inflame ethnic passion and violence if Mrs Eyesan is not sacked from her job and if PINL’s contract is renewed. It is not a threat that should be taken lightly, considering the situation in the Niger Delta. People like Marere are desperate, venomous fellows who can bring down the roof on everyone as long as it serves their narrow interests.

Recent revelation that oil thieves mount CCTV on trees to spot surveillance teams and attack them is scary, and forebode a bleak future for the country’s oil production if the threat is not eliminated. Mele Kyari, the NNPCL CEO, is amply aware of the threat and seemed to have focused attention on combating the menace.

It is in the interest of the people of Niger Delta in particular, and Nigeria in general that he succeeds.

•Suleiman writes from Abuja

NEWS SUPREME COURT DISMISSES APPEALS AGAINST FUBARA, KEFAS, ALIYU’S ELECTIONS "Regardless of the outcome, my believe in democracy and service to the remains unwavering. I accept the court decision within reservation understanding that it aligns with what God wants this time.

"Our collective goal is a conducive environment for growth. I pledge to collaborate with all well-being individuals in and out of government to revive Rivers State where commerce and development thrives and people can live harmoniously in peace. This has been my primary motivation in the political process and nothing has shaken my resolve in that regard.

"Congratulations to Governor Siminalayi Fubara on his victory and I extend my hand of fellowship to the government and people of Rivers State for a bright future," the APC guber candidate added.

Meanwhile, the Rivers State Council of the Nigeria Union of Journalists (NUJ) has felicitated Fubara, on his affirmation by the Supreme Court as the duly elected Governor of the State during the March 18 governorship poll.

The NUJ, in a statement jointly signed by its Chairman, Stanley Job Stanley and Secretary, Ike Wigodo, described the Supreme Court's declaration as a confirmation of the people's trust and mandate freely given to the governor.

It urged Fubara to be magnanimous in victory and also see his victory at the apex court as a birthday gift to him and the good people of Rivers State.

The NUJ urged the governor not to be distracted by political opponents but to focus on delivering good governance to the people of Rivers State.

Similarly, a group, Rivers Peace Initiative, said Fubara's victory does not warrant unhealthy celebration, "knowing that this is simply a resolution of a difference between brothers, so as not to fuel the feeling of loss that may result in violence."

Taraba State Governor Also, the apex court in another unanimous judgment, delivered by Justice Garba Lawal, affirmed the election of PDP's Kefas as Taraba Governor, shortly after dismissing the appeal filed by Yahaya Sani of the New Nigerian People's Party (NNPP) for being incompetent and lacking in merit.

Justice Lawal pointed out that the appellants did not provide any tangible evidence to show that the two judgments of the Court of Appeal and Taraba Governorship Election Petition Tribunal were perverse in dismissing their case.

According to Justice Lawal, the Court of Appeal was right in holding that the case of the appellants was

incompetent on grounds of incomplete transmission of the record of proceedings.

The apex court subsequently affirmed the concurrent judgments that affirmed the declaration of Kefas as winner of the March 18, 2023, governorship election in Taraba State.

The Court of Appeal, Abuja, had last November, affirmed the election of Kefas as Governor of Taraba State.

A three-member panel of the appellate court in two separate appeals had held that Kefas, was lawfully declared winner of the March 18 governorship election in Taraba State.

Delivering judgment in the appeal filed by Sani of the NNPP, the appellate court had held that the allegations of non-compliance, irregularities and other malpractices were not proved by the appellant.

In a unanimous judgment delivered by Justice Peter Affen, the appellate court faulted the appellant for dumping documents on the court, stressing that even if there was manifest incidents of malpractices or irregularities on the face of the documents, the appellant ought to have led oral evidence to support his allegations.

Besides, the court had dismissed the appeal for being incompetent and lacking in merit on grounds that the record of proceedings transmitted to the appellate court was not complete.

Earlier, delivering judgment in the cross appeal filed by the governor, the court struck out the appeal on the grounds that the petitioner was inconsistent in the reliefs sought in his petition. According to the appellate court, while the appellants had prayed for nullification of the election on grounds of non-compliance with the Electoral Act, they in another breath asked the court to pronounce them as winners of the same election on ground of scoring majority of lawful votes.

The court held that it was against the law for any litigant as in the case of NNPP and its governorship candidate to blow hot and cold at the same time.

Justice Affen further held that, having prayed that the election be nullified on account of non-adherence with the Electoral Act, the alternative prayer that, they be declared winner of the same election have no legs to stand upon. The appellate court subsequently allowed the cross appeal and struck out the petition.

A three-man panel of justices led by Justice G. A. Sunmonu of the Taraba state Governorship election petition Tribunal had on September 30 dismissed the petition filed by the NNPP and its governorship candidate for lacking in merit.

Sokoto State Governor Similarly, the apex court in another judgment delivered by Justice Tijjani Abubakar, affirmed the election of Governor Ahmed Aliyu of Sokoto State, shortly after it dismissed the appeal by Saidu Umar of the PDP. The apex court in the unanimous judgment held that the appellants did not demonstrate that the two lower courts were perverse in their judgments and did not also show evidence of miscarriage of justice.

Justice Abubakar subsequently dismissed the appeal for being incompetent and lacking in merit.

Umar and the PDP had listed nine grounds upon which they had asked the Supreme Court to set aside the concurrent judgments of the election petition tribunal and the Court of Appeal which affirmed the election of Ahmed Aliyu as Governor of Sokoto State.

INEC had in March last year declared Aliyu and his party, the APC winner of the Sokoto governorship election, having won majority of the lawful votes cast at the poll.

Dissatisfied Umar and PDP citing grounds such as malpractices, non-compliance as well as non-qualification urged the tribunal to void the election of Aliyu as governor.

On one hand, they prayed the tribunal to sack Aliyu and declare them authentic winner of the election, while on the other they had argued that the election be declared inconclusive and a rerun in about 138 polling units be ordered.

But, the three-member panel of Justices of the tribunal, led by Justice Haruna Msheila, in a unanimous judgment delivered on September 30, dismissed the petition for lacking in merit. The tribunal held that the petitioners failed to prove the six grounds formulated in their joint petition.

According to the tribunal, the grounds stated in the petition bordered on alleged ineligibility of Aliyu and his deputy to contest, falsification of certificates, variation of names, election frauds and non-compliance with electoral guidelines.

The lower court held in its judgment that the petitioners were unable to prove the allegations beyond reasonable doubt as required by law, as 70 per cent of exhibits they tendered were out of context because they relate to State Assembly elections conducted on the same day.

Dissatisfied, Umar and PDP went to the Court of Appeal, which in its own judgment affirmed the decision of the tribunal. The three-member panel of the appellate court had in a unanimous judgment, held that the appellants failed to substantiate allegations of

irregularities, noncompliance as well as non-qualification contained in their appeal.

Aliyu had won the election with about 49,000 votes, while total number of registered voters in the affected polling units where election was cancelled was put at over 85,000, total number of collected Permanent Voters Card (PVC) was put at over 82,000.

Based on the above the appellants had urged the appellate court to void the election of Aliyu, declare the March 18 election inconclusive and that the electoral umpire be ordered to conduct a supplementary election in the 138 polling units where election was cancelled.

They had presented INEC's form EC40G (incident form; showing elections were cancelled due to over-voting or disruption. In the lead judgment, the appellate court noted that the form EC40G, "shows electorates were given opportunity to vote but something went wrong culminating in the cancellation of the election".

While stating that he doesn't think it was necessary to call any person to speak again to such documents in line with Section 137 of the Electoral Act, Justice Mbaba Bassi who delivered the lead judgment, however, observed that precedence already set by the Court of Appeal and the Supreme Court in related matters demand that the appellants lead oral evidence to support the allegation of manipulation of votes through the cancellation of election in 138 polling units.

Based on this, Bassi had held that the tribunal was right in expunging evidence of non-compliance and other alleged irregularities and malpractices because the evidences were presented by incompetent witnesses.

He further held that the failure of the appellants to list and front-load the statement of the witnesses was fatal to their case.

Besides, the appellate court held that even though the appellants provided documents from INEC to prove cancellation of election in 138 polling units across the state, their failure to call witnesses from the affected polling units to speak to the documents was fatal to their case. Justice Bassi pointed out that reliance on Section 137 of the Electoral Act, 2022, was insufficient to prove cancellation without oral evidence.

On the issue of alleged certificate forgery, the appellate court similarly agreed with the tribunal that the appellants were unable to prove that the certificate submitted by the Governor and his deputy were forged.

While observing that allegations of forgery are criminal in nature and as such must be proven beyond reasonable doubt, the panel stated that failure of the appellants to provide both the forged and original certificates before the court was fatal to their case.

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NIGERIA’S ENDLESS OPPORTUNITIES FOR CORRUPTION The use of technology will help in curbing corruption, contends JOSHUA J. OMOJUWA

See page 21

IN PRAISE OF IGHODALO JOHN OWOLABI argues that Asue Ighodalo will work for Edo people if elected as governor

See page 21 EDITORIAL

ENDING THE CARNAGE IN PLATEAU STATE

22

The recent spate of abductions in the federal capital territory rekindles the need for Police reform, writes BOLAJI ADEBIYI

TERRORISTS’ SIEGE OF ABUJA Pretty Nabeehah was to graduate tomorrow from one of the nation’s foremost citadels of higher learning, Ahmadu Bello University, Zaria. Her uncle, Sherifdeen, said she was to do so ZLWK Á\LQJ FRORXUV KDYLQJ REWDLQHG D ÀUVW FODVV KRQRXU GHJUHH LQ KHU FKRVHQ ÀHOG RI VWXG\ 7KLV KRZHYHU ZLOO never be. Nabeehah was gruesomely murdered 12 days ago by terrorists who abducted her along with her four VLVWHUV DQG IDWKHU 0DQVRRU $O .DGUL\DU from their home in Bwari, a suburb of $EXMD WKH IHGHUDO FDSLWDO WHUULWRU\ 7KH dastards had demanded a N60 million UDQVRP UHOHDVLQJ $O .DGUL\DU GD\V DIWHU WKH DEGXFWLRQ WR JR ÀQG WKH PRQH\ So impatient were the outlaws to get the blood money that they killed the bright lady just two days after her father was released to search for the ransom.

7KH QDWLRQ ZDV VKRFNHG WR WKH PDUURZ by this pathetic turn of events even though abductions for ransom had become part of national life. So moved were Nigerians that crowdfunding was set up with Isa Pantami, immediate past minister of Communications and Digital Economy, and his friends pledging WKH VXP RI 1 PLOOLRQ 7KLV LV GHVSLWH the recent law that barred victims of abduction from paying ransom.

1RW D IHZ 1LJHULDQV KDG VFXͿHG WKH legislation as a piece of trash in the face of the demonstrated incompetence of the security agencies in stemming the tide of widespread crime. Anyway, eight days after the killing of Nabeehah, her four siblings regained freedom. Between the Police and the Army, a contest ensued RQ ZKR UHFRYHUHG WKH ODGLHV 7KH IDPLO\ ZRXOG ODWHU WHOO $5,6( 79 WKDW WKH ransom was indeed paid. What a shame!

7KH DEGXFWLRQ RI WKH $O .DGUL\DU family and the murder of Nabeehah were perhaps the jolt that Nyesom Wike, PLQLVWHU RI WKH )HGHUDO &DSLWDO 7HUULWRU\ needed to realise that he had been gravely distracted from his primary assignment by his struggle for power in his Rivers State homestead. While he was busy harassing Siminalayi Fubara, his successor, in faraway Port Harcourt, Abuja was overrun by outlaws who abducted residents at will and sent fears down the spine of inhabitants of the seat of the federal government. Mercifully, he is back to his beat, running from pillar to post, telling the residents that it has taken this unfortunate incident to get his ERVV 3UHVLGHQW %ROD 7LQXEX WR DSSURYH the purchase of tracking equipment required to trace terrorists who have had a free reign abducting citizens for ransom.

7KH WHUURULVWV· VLHJH RI $EXMD KDV

only reinforced the concerns about the internal security challenges in the FRXQWU\ LQFUHDVLQJO\ H[SRVLQJ WKH VXE optimal response of the appropriate agencies to the problem. It would seem the current remedies have failed and would require new ways of doing things to bring relief. Under the 1999 Constitution, as altered, the primary responsibility for internal security lies with the Police. Overwhelmed by the extremely violent nature of prevailing crimes, including insurgency, banditry, terrorism, and abduction for ransom, the federal government, in line with the Constitution, called in the military, especially the Army, to aid the Police.

7KLV KDV EHHQ WKH UHVSRQVH WR WKH ULVLQJ violent crimes, particularly since 2007.

Without a doubt, this has not abated the crimes, and there is a need to reappraise the approach.

Stretched too thin on internal security operations across the 36 states of the federation, with combat operations in the 1RUWK HDVW 1RUWK ZHVW 1RUWK FHQWUDO DQG 6RXWK HDVW WKH PLOLWDU\ ZKLFK KDV less than 200,000 personnel is incapable of holding liberated spaces. Even in a war situation, the responsibility of the military is to liberate enemy positions and yield the space for civil authorities, including the Police to hold and DGPLQLVWHU ODZ DQG RUGHU 7KH VLWXDWLRQ in the country today is that the military, rather than aid, has been forced to take over Police duties, mounting roadblocks and chasing violent criminals, not only LQ WKH EXVK EXW DOVR LQ WKH FLWLHV 7KLV LV not working and cannot work. What can work is for the Police to be made to do its work as the lead agency in the internal security network, whereby it will enforce the law and protect lives and property; the Nigeria Immigration Service will secure the borders against illegal aliens, the State Security Service will gather intelligence to nip in the bud any threat to security, and the Nigeria Security and Civil Defence Corps will continue to

guard and protect public buildings.

Although the Police have not covered themselves in glory, the solution to the problem is not to despise the institution but to seek an understanding and appreciation of its challenges to resolve them. After all, the force has the tactical squads, including the 0RELOH $QWL NLGQDSSLQJ DQG 6SHFLDO Forces to deal with the various levels of crimes. However, its decay began with its degradation under military rule, particularly from the Muhammadu Buhari regime in 1983. Unfortunately, the need to revive it since the return of FLYLO UXOH LQ KDV EHHQ KDOI KHDUWHG $ FRQVFLRXV HͿRUW KDV WR EH PDGH WR UHIRUP it. Its training curriculum has to change to meet the level of crimes, and it has to be adequately resourced with educated personnel, funding, and equipment.

In addition, there is the need to examine more realistically, the widespread quest for the decentralisation of policing in WKH FRXQWU\ $ VLJQLÀFDQW SDUW RI WKH security problems in the country arose from the centralised structure of the Police. With its headquarters in Abuja, supervising 36 state commands and WKH )&7 DV ZHOO DV D WKRXVDQG SOXV GLYLVLRQV LW LV QRW WRR GL΀FXOW WR VHH ZK\ WKH HͿHFWLYH VXSHUYLVLRQ RI R΀FHUV and men dispersed over millions of communities has become unattainable.

7KH XQVXLWDELOLW\ RI WKLV VWUXFWXUH KDV been a subject of intense national debate.

Whilst there has been apprehension over WKH SRVVLEOH PLVXVH RI VWDWH VXSHUYLVHG Police, the growing consensus has been that the disadvantages of the potential abuse of state policing do not outweigh LWV DGYDQWDJHV 7KLV ZDV ZK\ D compromise position was reached by the Governors’ Forum under the leadership of Rotimi Amaechi, then governor of Rivers State, that the states that could DͿRUG LW VKRXOG EH DOORZHG WR SURFHHG to establish their Police while those who could not, should be allowed to continue to utilise the services of the federal 3ROLFH 7KLV ZRXOG KDYH EHHQ LQ NHHSLQJ with the federal nature of the country.

With the nation’s precarious security situation, it is safe to say that it is not too late to explore this compromise by setting the machinery in motion for the alteration to the 1999 Constitution as altered to allow states to establish their Police, the same way states can now regulate electricity power supply in their domain.

Adebiyi, the executive editor of Western Post, is a member of the Editorial Board of THISDAY Newspapers

T H I S D AY

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FRIDAY JANUARY 26, 2024

JOHN OWOLABI argues that Asue Ighodalo will work for Edo people if elected as governor The use of technology will help in curbing corruption, contends JOSHUA J. OMOJUWA

NIGERIA’S ENDLESS OPPORTUNITIES FOR CORRUPTION Have you ever met anyone who made a commitment to reduce their weight, whilst keeping a freezer full of candies in their room, successfully meet their intended weight? Have you ever met a man, who decided to stop drinking alcohol, successfully carry out that desire whilst maintaining a fridge full of alcohol? When it comes to changing behaviour, intentions are never enough. If intentions were enough, most of us would attain our desires. Because we all often intend to do the right thing. The challenge, often,

is opportunity.

When you look through the papers every day, there are multiple reports of corruption across every tier, arm, and layer of government. That is the norm. Nigerians have been so inundated by corruption, no one cares about corruption reports anymore. In a way, they have become a cultural element of governance in our country.

Most Nigerians assume that almost every government official is corrupt. When you look at the numerous reports through the years, you could start to believe that Nigerians are probably amongst the most corrupt people in the world.

On that front, Nigerians are like humans elsewhere. We are not more or less corrupt than citizens of other countries. Nigerian government officials are not greedier than government officials elsewhere. They are certainly not greedier than other Nigerians. What Nigerians in government have more than other Nigerians and indeed government officials in most other countries is, opportunity.

Armed robbers, kidnappers and corrupt government officials all have something in common. Without opportunity, they are incapable of executing their crimes. The greatest factor for corruption in Nigeria is opportunity.

The system is designed to give you ample opportunities to be corrupt. This is because despite attempts to create a procurement process that eliminates corruption, many of those who were trusted to deploy that system simply saw in that an opportunity to align with the corrupt to facilitate the act. Corruption requires the connivance of several actors to be successful.

In a sense, it takes a system. When they say, “corruption is endemic,” that is what it means.

Dr Joe Abah, respected Nigerian technocrat, tweeted recently, “corruption is driven more by opportunity than by need or greed. Remove the opportunity and greed will be constrained.

On need, there are many people that have need but are not corrupt. Remove the opportunity and people will live within their means. Do you agree?” Looks like a rhetoric question to me.

Without opportunity, there is no chance to carry out the act.

I was recently stopped by a police officer in Lagos. I was wearing a regular pair of glasses

when he asked me to park. However, as he approached the car, I switched into a smart pair of glasses with its apparent mini lens. This was a situation I had anticipated. I casually made the switch as the officer watched while he walked on. By the time he got to the car, as I pressed the right side of glasses as though I had activated something, he must have suspected that we were in effect in a production.

By pressing the glasses, I wanted to see if by just pretending to record the situation, the officer would behave differently compared to if it was just the two of us without a camera. You could see his shoulders fall. His demeanour completely changed as humility appeared to descend upon him. I saw the man wilt. Even when he asked for my name, I knew he’d rather I could just go, instead of answer. Because he didn’t want anything to do with me and my “rolling” camera.

He managed to ask, “where are you from?” But we both knew he wasn’t interested in any answer as it was clear we were done. He didn’t know what to do or say, so I helped him. I said, “have a nice day my brother”, as I saved my time and his.

That experience further enhanced my belief in creating situations that reduce or eliminate bad behaviour. I denied that officer the opportunity to do whatever he liked. Knowing that there was a possibility he was being recorded completely changed his behaviour.

I have read research papers on how increased street lighting helped to reduce crime in New York City. Darkness does not just provide cover for crime, it induces it. Humans behave differently when they know they are being watched. Light, camera influence action in real life too. By merely lighting up our streets and roads and placing CCTVs around our homes - where they can be seen - we make would be criminals re-consider their decisions. These things don’t always stop crime. However, they can be useful. In our situation, the CCTVs don’t help much after the crime because we haven’t effectively intersected data collection on identity with crime solving.

They could help with preventing crimes though.

Especially by criminals who may be known to us.

Corruption in government, criminals in our society and other such evil that have engulfed us are primarily because we have refused to eliminate the opportunity for such crimes. If an immigration officer knows that the CCTV at the airport is being watched every second of the day, they’d know to behave better. If you have those CCTVs there just for the sake of having them there, they’d know and it would mean nothing.

When you give them several reports on their behaviours according to video evidence and also go on to punish the culprits, others will behave.

In government, we give individuals the power to allocate billions of naira whilst pretending to put checks and balances in place when we know that those checks are about as effective as a basket intended to collect water. When we want to drastically reduce corruption and criminality, we will advance the use of technology, relentlessly pursue a cashless society and go out of our way to empower the prosecuting agencies. Without noise, we’d have taken several steps forward in building a transparent and accountable system.

That said, do we really want to end corruption?

Omojuwa is chief strategist, Alpha Reach/ author, Digital Wealth Book

IN PRAISE OF IGHODALO It appears to me that the Morning Show deep roots in Edo, recounting 16 presenters at Arise TV, a formidable and years of traversing Benin, intricately adept team featuring my own role model, entwined with the economic tapestry Dr. Reuben Abati, and Mr. Emmanuel of Governors Adams Oshiomhole Efeni, may have embraced the ambition and Godwin Obaseki. and political aspirations of Mr. Asue The refrain of his familiarity with Ighodalo, a luminary of the Peoples Edo’s denizens echoed, punctuated Democratic Party (PDP) in Edo State. In by deeds unsung, an anthem of quiet a parley with these astute journalists on impact that need not trumpet its Wednesday, his oratory unfolded.

H[LVWHQFH :LWK D ÁRXULVK KH SDLQWHG In the court of discourse, he, with noble a canvas of readiness, vowing to bearing, declared that Governor Godwin attend to diverse sectors – from the Obaseki extended no invitation to the economic crucible to the corridors gubernatorial quest. An oath sworn, he of education, infrastructure, and a pledged allegiance solely to those who, government infused with technology in the electoral dance, would anoint him to burgeon revenue. as the shepherd of Edo State. ,Q DGGUHVVLQJ WKH ÀQDQFLDO With the alchemy of words, he labyrinth of Edo’s debts, he, with DGGUHVVHG GHWUDFWRUV KLV JD]H À[HG RQ a maestro’s touch, declared that the realm’s tribulations, envisioning debt, if wielded for developmental D PHWDPRUSKRVLV LQWR D ÀUVW ZRUOG metamorphosis, is no malady. It is the enclave. Plagued by allegations of alchemist’s elixir, and the quandary political godfatherism, he, in soliloquy, lies in its wielder. With sagacity, he proclaimed that he wasn’t summoned envisioned a judicious use, ensuring

by Governor Obaseki’s behest, for the debts metamorphosed into the

MRXUQH\ ZDV SURSHOOHG E\ KLV ÀQDO SXVK renaissance of the economy, guarding – laboring on the sovereign investment against leaks that could render them authority’s board. a nemesis.

His narrative unfurled further, In the tumult of party divisions, he, recounting the social investments as a diplomat of the political theatre, wrought, an epiphany of the dividends acknowledged misalignments. Like of uplifting lives. A conjurer of a skilled mediator, he harmonized destinies, he envisaged a journey, discord, laboring to align missteps guided by accumulated experiences and at the national and state stages. In connections, to elevate Edo State, casting whispered counsel, he traversed the LW IURP WKH WKLUG ZRUOG LQWR WKH ÀUVW -XVW familial chasms within the party, like the Arise journalists, I was carried urging unity for the greater good. away!

For me, therefore, in political Addressing the question of fealty, stratagems, Asue Ighodalo emerged Ighodalo, with the conviction of a noble as the protagonist, weaving a tale of bard, declared that he would be elected allegiance to the people, a visionary’s

by Edo’s virtuous folk; his allegiance journey from poverty to prosperity, reserved for their weal. And that he and a bard of governance, poised would toil for their elevation, rescuing to script Edo’s ascension into the them from the shackles of poverty, and HFKHORQV RI D ÀUVW ZRUOG WDSHVWU\ ,I HUHFWLQJ D ÀUVW ZRUOG HFRQRP\ given the ticket of his party, he sure To those who labeled him an ‘outsider,’ would make a marketable product! he, with unwavering resolve, dismissed the cacophony, deeming it a mere Owolabi, distraction from the veritable issues a multimedia journalist, writes from besieging the state. He proclaimed his London

22 4

T H I S D AY

FRIDAY JANUARY 26, 2024

EDITORIAL

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

ENDING THE CARNAGE IN PLATEAU STATE Culprits should be prosecuted and punished

A

to the media that times like this call for restraint in fter a few years of relative peace, the reportage (and slanting) of news so that we do Plateau State has now relapsed into not unwittingly provide platforms for purveyors full-scale violence. Despite the 24of violence and hate. It is particularly important to hour curfew declared by Governor note that giving undue prominence to incendiary Caleb Mutfwang, destructions and remarks will not in any way advance the cause of killings have continued unabated peace which we really need for us to successfully just as leaders of Christian and Islamic religious navigate this troubled season. groups are trading accusations between themselves The spiral of revenge killings started last while also same time accusing the military and December when almost 200 people were mowed some vigilante groups of taking sides in the down across several communities in Bokkos, FRQÁLFW :KDW FRPSRXQGV WKH FKDOOHQJH LV WKDW WKH Barkin Ladi and Mangu local governments. The governor hails from Mangu local government area, assailants targeted 17 communities in senseless the latest theatre of violence. and unprovoked attacks, and burning down many Since 2001, Plateau State has been embroiled houses in the area. in this ruinous crisis that has claimed thousands A major cause of the of lives. Hundreds of violence and aggravated thousands of others tension in Plateau State KDYH DOVR KDG WR ÁHH Violence keeps recurring not only in Plateau State, but indeed across the and several other theatres their homes and take across the country is over refuge in Internally country because the perpetrators always get away with their sordid act access to land, especially Displaced Persons (IDP) between nomads and since those responsible are never prosecuted and brought to justice camps. The scope of the peasant farmers. As we FRQÁLFW KDV HVFDODWHG LQ have stated repeatedly, recent weeks and is now the solution is to address assuming a dangerous T H I S D AY headlong the perennial problem of grazing rights. dimension. All sides now exploit religion as a EDITOR SHAKA MOMODU The pastoral lifestyle as an aspect of our inherited tool to mobilise large-scale support and a cloak DEPUTY EDITOR WALE OLALEYE culture has become a national security challenge to impunity, and attack opponents and innocent MANAGING DIRECTOR ENIOLA BELLO and no longer tenable. Unfortunately, successive people. At the centre of this crisis are age-long DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU administrations in the country have continued CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI emotional issues of ‘settlers’ and ‘indigenes’ which EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN WR SURͿHU WKH VDPH PHGLHYDO VROXWLRQ WKDW RQO\ require political sagacity to resolve by all critical THE OMBUDSMAN KAYODE KOMOLAFE compounds the problem. stakeholders. Sadly, community elders as well as :H PXVW KRZHYHU QRWH WKDW YLROHQFH NHHSV the political and religious leaders who ordinarily recurring not only in Plateau State, but indeed should help in bringing peace are most often the across the country because the perpetrators ones leading the rhetoric of hate that in turn ignites always get away with their sordid act since those T H I S D AY N E W S PA P E R S L I M I T E D the spiral of violence.

EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA responsible are never prosecuted and brought :H DSSHDO WR RXU UHOLJLRXV OHDGHUV WR H[HUFLVH GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, to justice. Issues of proliferation of light arms, caution in their actions and utterances. “Religious ISRAEL IWEGBU, EMMANUEL EFENI intelligence gathering and quick response to bodies should do more to preach peace, tolerance, DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, attacks and dispensation of justice for deterrence ANTHONY OGEDENGBE and harmonious co-existence than invest so much SXUSRVHV PXVW EH DGGUHVVHG GHFLVLYHO\ :LWKRXW DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI HQHUJ\ LQ IDQQLQJ WKH HPEHUV RI GLVDͿHFWLRQ SNR. ASSOCIATE DIRECTOR ERIC OJEH DQ\ FRQVFLRXV HͿRUWV LQ WKDW GLUHFWLRQ LW ZLOO EH and misleading the public”, Musa Ashom, the ASSOCIATE DIRECTOR PATRICK EIMIUHI GL΀FXOW WR EULQJ DQ HQG WR WKH VSLUDO RI YLROHQFH state Commissioner for Communication and CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI that has unwittingly turned our country into one ,QIRUPDWLRQ VDLG GXULQJ WKH ZHHN :H DOVR DSSHDO DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO ELJ NLOOLQJ ÀHOG TO SEND EMAIL: first name.surname@thisdaylive.com

Letters to the Editor Letters in response to specific publications in THISDAY should be brief (150-300 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (750- 1000 words). They should be sent to opinion@thisdaylive. com along with photograph, email address and phone numbers of the writer.

LETTERS THE SEARCH FOR A TRUE NIGERIAN Against the backdrop of both the objective and subjective conditions that have helped to shape Nigeria's political history over time and her citizens' perception of one another; it is also pertinent to seek to know who the true Nigerian is today. In a thorough search of this magnitude, we must go beyond the opaque and theoretical provisions of our conVWLWXWLRQ DV UHJDUGV WKH TXDOLÀFDWLRQ IRU 1LJHULD FLWL]HQVKLS This will help us take a philosophical trip to a workable consciousness of who a true Nigerian should be and not who we generally think he is.

To the most of us, a Nigerian is anyone that comes from any indigenous tribe within the geographical boundaries of the present Nigerian state; or one whose parents or grandparents hails from one of the many tribes in Nigeria.

This paraphrased constitutional provision helps to create our collective perception that degenerate into negative tribal relations and mutual suspicion and disharmony that we're witnessing today. $V VXFK HYHU\RQH VHHPV WR ÀUVW RI DOO WKLQN RI KLV WULEH and her welfare before the conscious realization that he's VXSSRVHG WR EHORQJ WR D PXFK EURDGHU DQG VXSHULRU D΀OLD-

tion than his tribal lineage. And this truly, could be the crux of the matter.

It is on the basis of this peripheral scope that the politics and politicking of today is hinged; albeit dangerously. Yet WKH TXHVWLRQ UHPDLQV ZKR RU ZKDW ZLOO KHOS XV WKLQN GLͿHUHQWO\" :KHQ GR ZH EHJLQ WR WKLQN SURJUHVVLYHO\ 1LJHULDQ" And what truly, do we mean by this?

7KH LGHRORJLFDO JDS DQG WKH RGLRXV SHUFHSWLRQ GLͿHUHQtials of who a true Nigerian is (vis-a-vis who he should be) as encapsulated by the Nigerian Constitution and the seemingly herculean desire to elevate such perceptions therefrom, to the possibility and practice of "thinking Nigeria ÀUVW EHIRUH WULEH LV WKLV ZULWHU V XWPRVW FRQFHUQ Agreed that adjusting our mindset to this, going forward, is no tea party; but remaining with the status quo will continue to be like the morning fog in a bright day, for progressive politics and politicking in Nigeria in many years to come.

Stories had it that one of our foremost nationalists, Chief Obafemi Awolowo, was a true believer of Nigerianess by WULEH +H VDZ KLPVHOI ÀUVW RI DOO DV D <RUXED PDQ +LV FRQtemporary, Dr Nnamdi Azikiwe, was of the opposite divide.

But the truth remains that these early nationalists' perception laid the foundation for tribal politics and political parties in Nigeria.

But there's a 'caveat' here: while the tribal politics of old 'helped' to develop the regions as it were, today's tribal politics helps only to 'develop' individual pockets and interests.

There's a gulf between the two, obviously. :KHQ ZLOO DQ $PLQX ERUQ DQG UDLVHG LQ (QXJX 6WDWH EH free to contest for an elective position with a Chukwudi in (QXJX" :KHQ ZLOO DQ 2NRULH VOHHS ZLWK WZR H\HV FORVHG LQ Kano comfortably for the whole of the 365 days in a year or 366 days in a leap year with an irresistible feeling of peace DQG SULGH DV D WUXH FLWL]HQ RI 1LJHULD" :KHQ ZLOO D %XQX from Kaduga in Borno State be accepted as a running mate in a gubernatorial election to an Olawumi in Osun State?

Answers to these probing questions encapsulate our collective dilemma today as a nation. It is obvious that tribalism and tribal politics has failed us. But should we continue with it as though all is well?

Austen Akhagbeme, Abuja

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T H I S D AY • Friday, January 26, 2024

BUSINESSWORLD R A T E S

MONEY MARKET

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A T

REPO

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

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S & P INDEX

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EXCHANGE RATE

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1-DAY

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Aircraft Checks: Airlines to Spend $3bn in 2024, May Cut Down on Operations Chinedu Eze With the fast depleting of aviation equipment, coupled with the scarcity of foreign exchange, Nigerian airlines may spend over $3 billion to conduct checks on their aircraft overseas in 2024, THISDAY has learnt.

As at last week, the number of operating aircraft was reduced to about 43 because some of the existing aircraft that were taken out for checks are still in maintenance facilities overseas due to lack of foreign exchange to ferry them back to the country.

It was learnt that as a result of FX crisis, existing aircraft due for

maintenance are grounded.

Some of the airlines that are still operating are considering closing some routes to concentrate on profitable ones, as they continue to record reduction of the number of aircraft in service.

The depreciation of the naira has made the cost of maintenance very high, as airlines, which earn revenue in the local currency must have to spend over 200 per cent of what they spent in 2015 for the same cost of aircraft maintenance overseas.

The Head of Aero Contractors Maintenance, Repair and Overhaul (MRO) Division, James Ominyi, told THISDAY that the major challenge

the airlines are facing is about conducting the maintenance of their aircraft overseas at huge cost.

He said the depreciation of the naira and the scarcity of foreign exchange, have made it very difficult to pay for the conduct of heavy checks outside the country.

Ominyi who is renowned aircraft engineer said: “It is really difficult because an airline may budget about #300, 000 for C-check but when the aircraft is opened up, there could be more work to be done and the cost of maintaining will skyrocket to about $1 million, which is equivalent to about N1.3 billion at the moment and about N350 million in 2015.”

He posited that taking aircraft out of the country remained a huge challenge because of the cost of maintenance, the cost of ferrying the equipment and cost of other logistics, adding that Nigeria does not have adequate number of aircraft maintenance facilities.

Currently there are two maintenance facilities for schedule commercial aircraft: Aero Contractors and 7Star but they cannot maintain all categories of aircraft in Nigeria’s airline fleet, which include Bombardier, Embraer, Boeing, Airbus and others.

Ominyi said many airlines reduced fleet because the grounded ones cannot be maintained, as there is

no forex to take them out and pay for their checks.

All the airlines, including Max Air, Allied Air, United Nigeria Airlines and Rano Air are facing similar challenge, which has to do with where to maintain their equipment.

They can source for foreign exchange in the banks, as some of them paid naira to the Central Bank of Nigeria (CBN) through their banks, waiting for forex, Ominyi said.

“The maintenance facilities in Nigeria can conduct major checks on Boeing 737 Classic, Bombardier Dash 8 and few others, but they do not have the approval yet to conduct heavy checks on other aircraft types. At Aero Contractors

we finish C-check within two months, if the airline that owns the aircraft makes the spares available; if not, it can last as long as six months, but if everything is available we can finish C-check in six weeks. In addition to our hangar, which we are expanding, we got approval from the Nigerian Civil Aviation Authority (NCAA) to use the Nigeria Air Force hangar at the Lagos airport. We can conduct C-check Boeing 737 classics, Hawker 125, Bombardier Dash 8. We also have approval to conduct B-check on Boeing 737 NG aircraft.

The story continues online on

www.thisdaylive.com

L-R: Risk and Compliance Officer, Leadway Capital and Trusts Limited (LCT), Oluwakemi Jenyo; Head, Business Development, LCT, Funmi Dosunmo-Ayoola; Head, Corporate Services, Leadway Holdings, Aishat Bello-Garuba; Managing Director/Chief Executive Officer, LCT, Ayodeji Wuraola; Team Lead, Trusts Services, LCT, Aisha Navi-Ogene; Photo: KOLAWOLE ALLI and Head, Trusts Services, LCT, Oliver Obi, at the Strategic Media Parley for Leadway Capital and Trusts Limited in Lagos… recently

Report: 81% Nigerian Business Leaders Laud Positive Impact of Open Financial Markets

Kayode Tokede

A report by Standard Chartered Bank has revealed that 81 per cent of Nigerian business leaders lauded the positive impact of open financial markets, stressing that the business leaders have acknowledged the impact of financial open markets.

The report tagged, “Resetting Globalisation: Catalysts for Change,” captured the various perspectives of business leaders in Nigeria and in other markets on the concept of reconstructing

the current model of globalisation and decentralised finance.

The report revealed that Nigerian business leaders are confident in the potential of decentralized finance (DeFi) in nurturing an equitable financial system - showing encouraging sentiments on innovative financial mechanisms.

According to the report, the increased connectedness of the world has led to the interdependence of financial markets, a development that has proven highly beneficial primarily

to the developed world while developing markets continue to be left behind.

“Globalisation enables small and medium businesses to access patronage from international markets. Indeed, businesses no longer need to be necessarily multinational to serve international markets as individuals can work in one country while living in another.

“However, this development has led to crisis, with one country/ market negatively affecting others in a non-linear manner. An example is the COVID-19 virus and the

subsequent oil price crash leading to reduced government revenue in the Nigerian market. On account of such situations, there is heightened demand to rethink current global structures in a manner that is equitable to all,” the report revealed.

Notably, the report disclosed that only 55 per cent of business leaders in Nigeria believe that foreign investment has been instrumental to the growth and development of the Nigerian economy.

“Additionally, Nigeria’s capital market depth exhibited significant growth, surging from approximately

6.8 per cent in 2000 to 17.1 per cent by 2018. The removal of a mandatory one-year holding period for foreign portfolio investors in 2012 spurred a remarkable surge in foreign investment in the equity market.

“Developing countries such as Nigeria often bear the brunt of climate change due to actions like environmental dumping - a side effect of globalisation. As such, Nigerian business leaders are sensitive to sustainability practices, with 64 per cent believing that a global approach is required to

solve climate change.

“The report further highlights the perspectives of business leaders in South Africa and Nigeria, where nearly 60 per cent agree on the benefits of leveraging global talent pools for local development.

Nigeria has emerged as a bubbling outsourcing hub, partly fueled by the expansion of English-speaking graduate talent pools, and set to be further developed by the National Talent Export Programme (NATEP).

The story continues online on

www.thisdaylive.com

M a r k e t d ata A s at T h u r s d ay, J a n u a r y 2 5 , 2 0 2 4 BILLS

BONDS Description Price Yield Change Updated Time (%) ^13.53 23January 101.49 12.09 -0.01 18, 2024 MAR-2025 ^12.50 2299.40 12.85 0.01 January JAN-2026 18, 2024 ^16.2884 17January 109.01 12.72 0,00 MAR-2027 18, 2024 ^13.98 23January 101.63 13.44 0,00 FEB-2028 18, 2024 ^14.55 26January 101.40 14.15 0,00 APR-2029 18, 2024

Maturity

Discount Yield

Change (%) Updated Time

Maturity

RMBL CP VI 31-JAN-24 CRSL CP II 18-FEB-24

6.52

6.54

0.00 January 18, 2024

8.97

9.04

0.00 January 18, 2024

10.37

10.50

0.00 January 18, 2024

RMBL CP VI 31-JAN-24 CRSL CP II 18-FEB-24

7.79

7.89

0.00 January 18, 2024

8.94

0.00 January 18, 2024

FLOURMILLS CP III 29-FEB-24

UACN CP VI 19-MAR-24 LFZC CP IV 16-APR-24

8.75

OTC F X F U T U R E S

CPs

FLOURMILLS CP III 29-FEB-24

UACN CP VI 19-MAR-24 LFZC CP IV 16-APR-24

Discount Yield 6.52

6.54

8.97

9.04

10.37

10.50

7.79

7.89

8.75

8.94

Change (%)

Updated Time

0.00 January 18, 2024 0.00 January 18, 2024 0.00 January 18, 2024 0.00 January 18, 2024 0.00 January 18, 2024

Contract Tenor Contract (Month) 13

13M

14

14M

15

15M

16

16M

17

17M

Current Rate ($/₦)

Updated Time

NGUS JAN 29 2025 NGUS FEB 26 2025 NGUS MAR 26 2025 NGUS APR 30 2025 NGUS MAY 28 2025

January 18, 2024 January 18, 2024 January 18, 2024 January 18, 2024 January 18, 2024

24

FRIDAY, JANUARY 26, 2024 ˾ T H I S D AY

BUSINESSWORLD

AIR WATCH

Modernised E-wing Arrival at MMIA Reopened Stories By Chinedu Eze The Federal Airports Authority of Nigeria (FAAN) has opened the recently renovated E-arrival Wing at the old Murtala Mohammed International Airport (MMIA) in Lagos for passengers’ use.

The first batch of passengers who utilised the facility were those of British Airways flight from London, and they commended the government for a well-thought-out plan to refurbish the hall.

The E-wing arrival hall of the old international airport terminal in Lagos underwent refurbishment in collaboration with the Nigeria Immigration Service (NIS) and its partners.

It was inaugurated in December of last year by the Minister of Interior, Mr. Olubunmi Tunji-Ojo. The upgraded hall aims to streamline the arrival process, providing a smoother experience for passengers, especially the elderly and those with mobility

challenges.

The first passenger to step out of the elevator into the hall was a foreigner entering the country for the first time.

He was welcomed on a red carpet and presented with a gift by the airport manager and the manager of southwest airports, Mr. Sunday Ayodele, accompanied by the Comptroller of Immigration, Lagos Airport Command, and other officials.

Passengers who had used the old arrival wing before the renovation commended the changes. They particularly liked the cultural displays representing various tribes and inscriptions of Nigerian greetings on its walls.

“I like the art work, and I hope they can maintain it. I love this, thanks to everyone for accomplishing this. There has been an improvement which is commendable we are getting there little by little but we just pray that we are able to maintain it and

improve more on it.”

During an inspection tour of the airport facilities and monitoring of vehicular traffic, the Managing Director of the Federal Airports Authority of Nigeria (FAAN), Mrs. Olubunmi Kuku, stated that the federal government planed to enhance passenger experience and infrastructure.

She mentioned that in the next few days, plans would be rolled out to eliminate the gridlock often experienced at peak periods, meetand-greet areas, and ensure order within the environment.

The MD of FAAN also assured that the runway 18R of the airport would be reopened soon, as the contractor had been instructed to return to the site.

The runway 18R was closed last year in March for routine maintenance for five weeks, and during the process, the airfield lighting was stolen.

Since then, the runway had remained closed.

A I R WATCH Much Ado About FAAN Relocation to Lagos

Naebi Dynamics to Fortify Aviation Security in Nigeria An indigenous operator in the aviation industry, Naebi Dynamic Concepts Limited, has moved to improve airport and airspace security in the country with planned deployment of modern equipment to fortify helicopter tracking services.

Naebi uses surveillance equipment and data acquisition devices to monitor movement of helicopters in Nigeria’s airspace, airports, airstrips and other areas where they land and take off.

The Company disclosed that it is acquiring information technology tracking devices, body-worn cameras, control room with complete facility rack fitted amongst other support tech equipment that would capture and relay data for helicopters flying in and out of Nigeria.

The Managing Director/Chief Executive Officer of Naebi Dynamic Concepts Limited, Mr. Chike

Stanley, stated that the move to re-fleet its equipment profile, was part of the company’s strategy to ensure it achieved its objectives on comprehensive monitoring of helicopter movement in the airspace, job creation and fulfilling its mandate of generating revenue for the Federal Government of Nigeria.

Stanley said: “Naebi Dynamic Concepts Limited will be acquiring a mobile radar to help cover low level flights from 5000 feet above sea level with high density cameras and other technological devices to be deployed to the area.”

According to him, the thrust is to contribute in increasing the nation’s Gross Domestic Product through the Ministry of Aviation; creating jobs, and reduce security risks and youth restiveness especially in the Niger Delta Region.

Speaking on the development, an official of the equipment company in the United Kingdom, known as Tensor, Mr. Martin Head, stated that its company was working with Messrs Naebi Dynamic Concepts Limited and the Federal Ministry of Aviation and Aerospace Development to achieve the tracking of helicopters in and out of Nigeria from the control room of the company.

During the meeting, the Special Advisor to the Minister on Special Projects and Duties, Mr. Christopher Omoaghe, spoke on behalf of the Ministry of Aviation and Aerospace Development, highlighting the challenges faced by the Ministry, including the provision of incorrect schedules and data, as well as the submission of falsified amounts by operators attempting to bypass the system.

Air Peace Begins Operation to Abidjan Air Peace has launched flight operations to Abidjan, the capital of Cote d’Ivoire.

The airline’s inaugural flight P47770 on B737-500 aircraft piloted

by Capt. Gerald Nmorka, touched down at Félix-Houphouët-Boigny International Airport in Abidjan and was welcomed with a ceremonial water salute.

The Management of the airline led by the Director of Flight Operations, Capt. Augustin Kamano, was received by Ivory Coast’s airport authorities, the Nigerian Embassy officials

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

in Abidjan and the Nigerian community.

Captain Kamano reiterated the commitment of the airline under the Chairmanship of Dr. Allen Onyema to bridge connectivity gap among West African countries and reduce the air travel burden for Africans.

He also hinted that the airline’s 10th regional route, which is Cotonou in Benin Republic, would be launched on January 27, 2024, adding that passengers can also fly from Abidjan to Dakar, Senegal.

He said: “Nigeria has a longstanding relationship with Ivory Coast and the launch of flights by Air Peace into Abidjan today will deepen commercial cooperation as well as solidify bilateral ties between both countries.

“Since we commenced operations in 2014, we have been on an aggressive but strategic route

expansion mission, becoming famed for our no-city-left-behind initiative which goes beyond the West Coast to include international destinations.

“The airline is committed to providing increased connectivity across key cities in the West African sub-region and promoting economic prosperity for Africans. We want to make air travel easier for the collective development of all West African countries.”

President of the Nigerian Community in Ivory Coast, Chief Michael Onwuchelu, commended the Chairman of Air Peace for his initiative to connect the African continent with air transportation.

“This is our own and we must specially support Air Peace. Côte d’Ivoire has been a hospitable country, we are all happy here. We will support our own,” Onwuchelu added.

Soludo Restates Commitment to Anambra’s Digital Revolution Agenda Anambra State Governor, Prof.

Charles Chukwuma Soludo, has restated his commitment to drive digital transformation in the state, though the Anambra’s Digital Revolution Agenda that is championed by the governor.

Soludo who restated his commitment during a virtual media briefing organised by the Anambra State ICT Agency, said his agenda for 2024 would focus on how to

leverage emerging technology to drive government activities for the good of the people.

Soludo, who was represented at the media briefing by the CEO, Anambra State ICT Agency, Chukwuemeka Fred Agbata, stressed the importance of collaboration with industry stakeholders in the state to achieve his digital transformation drive in the state.

Chinedu Eze Last week the Federal Airports Authority of Nigeria (FAAN), confirmed that it was directed to relocate its headquarters back to Lagos, where it moved from in 2020 to the Federal Capital Territory (FCT), Abuja.

The agency gave reasons for the movement and chiefly among them is that in Lagos, it has physical structure that served as its headquarters for many years and the structure is still intact. In Abuja, FAAN does not have offices as operational headquarters and was considering renting office space to accommodate its top officials.

Lagos, FAAN said, is the hub of activities where over 60 per cent of travellers are processed, “and it has the highest passenger throughput in the country and it is good that the management of the agency is located in proximity to its operational hub.”

FAAN said it loses huge resources paying allowances for its staff for movement between Abuja and Lagos every week.

Many stakeholders could not understand why aviation agencies were asked to move to Abuja when there was no structure made available for them. Some said that if such a decision was not a knee-jack reaction out of sentiment, the former Minister of Aviation, Hadi Sirika should have made sufficient plan by building befitting offices and living quarters for FAAN staff and the Nigerian Airspace Management Agency that were asked to move to Abuja.

“He had enough time to do so. He served for almost eight years. He could have dedicated the first four years to complete the structures that would house the new headquarters and would have built living quarters for them, as they have in Lagos, which has been of immense benefit to the agency and others, “a stakeholder said.

Industry expert and aviation security consultant, Group Captain John Ojikutu, expressed surprise that the decision to relocate FAAN to Lagos was eliciting such reaction and political colouration.

“Does it really matter wherever the FAAN headquarters is located if not for the political office holders to be using it as fund tracking for themselves? FAAN headquarters can be anywhere in Kano, Kaduna, Owerri, etc to do oversight over all the airports under its responsibility.

What FAAN is to the political office holders is the reason for them not wanting the airports for concessions since the year 2000 when the Act for their concessions was promulgated,” he said.

The Managing Director of Flight and Logistics Solutions Limited, Amos Akpan, told THISDAY that the protest against the relocation was politically motivated.

“Inadequate and inappropriate work environment is a serious breach of regulatory requirements for organisations in aviation industry. Scattering personnel and offices in different locations hinders coordination for time specific deliverables. Nigerian Civil Aviation Authority (NCAA) had built a suitable office in Abuja airport to accommodate her headquarters staff. FAAN did not conceive headquarters infrastructure in Abuja.

FAAN had always treated Abuja as regional management center, therefore did not provide infrastructure for her headquarters functions. Since the order to relocate to Abuja, FAAN has had to rent offices in Abuja while some key post holders shuttled between Abuja and Lagos.

The federal government should plan the relocation, provide suitable accommodation for work and residence, provide work tools that fit functions before the order to relocate.

“In my opinion, regional offices should be empowered to take decisions regarding operations and commercials with well documented guidelines. Financially, it’s expensive to have suitable infrastructure as headquarters in Lagos

not used while you rent offices for personnel in Abuja and pay hotel and inconvenience allowances to them because they have to report to work in Abuja. The Minister did not ask NCAA to relocate because they have functional infrastructure that fits purpose. The Minister will not order the Nigerian Meteorological Agency (NIMET) to relocate. The Minister will not order the Nigeria College of Aviation Technology, Zaria (NCAT) to relocate. The protesters do not have adequate information and they are pushed around by politicians. Giving ethno-political colorations to technical decisions will only set us back. We are due to demonstrate compliance on close of gaps from the last International Civil Aviation Organisation (ICAO) audit; we should not set traps for failure against ourselves,” Akpan said.

The Executive Secretary of industry think-tank, Aviation Round Table (ART) and Director of Research and Strategy of Zenith Travels, Fidel Olu Ohunayo, described the threats issued by politicians from the northern part of the country over the decision to relocate the FAAN headquarters to Lagos as silly.

“When these offices were moved from Lagos to Abuja, there was no threat and nobody was asking for consequences and the cost and rationality for moving it. Again, for me, I think the Ministry this time had no reason going on air to put out a notice in the first place and going on air to justify it. I think that could have been done quietly because for FAAN, majority of FAAN staff were already operating from Lagos.

“So, the only movement that we saw in FAAN was that of, maybe, the managers and the directors, and you could understand that everybody wanted that huge sum of money to relocate. And that was what they targeted for. And now if you are asking for relocation now, you are actually asking the same civil servant to make some money again to relocate back to their base.

And I think they should not have publicised it, and they should not have made it something of a drama.

It had to be done quietly. Because even before Mrs. OlubunmiKuku started work as FAAN Managing Director, the last MD, was operating from Lagos. He was more in Lagos than in Abuja, same with the one before him. So it shows where the state of FAAN is, and I think they will just continue in that pattern rather than do this drama that is coming up now,” he said.

Ohunayo also pointed out that the Nigerian Airspace Management Agency (NAMA) would also have the same problem because while it has operational headquarters in Lagos with an Annex, it has no structure and paid whopping amount of money to rent office outside the airport in Abuja; office, industry observers said was grossly inadequate.

“I think NAMA is also another basket case.

They are all leasing properties all over the place.

They don’t even have offices for their staff. They have already applied again for money to go and rent another building, when you have buildings in Lagos, unoccupied. Something is really wrong with our mentality. Do we want the agency to run efficiently? Do we want to save money? Or we are more concerned about the political gains that we have? It is not compulsory. If there are officers that need to be in the Abuja, so let those officers that need to be in Abuja be in Abuja. And those who have to be in Lagos, be in Lagos. Why should you go and rent extra building when you have offices in Lagos unoccupied? Why should you do that? It does not make sense.

“I think we should care about providing efficient services by these service providers, which is a problem till today. And that should be their priority, not the drama of relocation,” he added.

FAAN would save billions of naira in expenses moving its headquarters back to Lagos, he further said.

T H I S D AY ˾ FRIDAY, JANUARY 26, 2024

BUSINESSWORLD

25

AVIATION

Awala: Human-centric Innovation Will Dictate Marketing Landscape in 2024 Raheem Akingbolu As more factors, especially technology, continue to change consumer behaviour and dynamics in the marketing landscape, a marketing expert, Jolomi Awala has said understanding the latest developments in the industry, will help a marketer formulate effective strategies to boost business development and enhance brand value.

According to him, the latest developments have made imperative to staying relevant and competitive in today’s everchanging market.

Awala, who is a creative director at Ogilvy Nigeria, said at a media

parley in Lagos recently that people who master Artificial Intelligence (AI) would most likely have an edge over others as it would complement human-led survey testing, enabling cost-effective, scale-able, and speedy testing.

The expert also argued that Brands that can infuse Humanovation in 2024 would be a big hit with consumers.

Speaking from a creative marketer’s standpoint, Awala said: “In 2024, Humanovation, that is human-centric innovation, will become important. There will be a lot more human-centric messages, not only in story telling but also in story doings. Brands that can do this will be a major hit with consumers.

“Messages will no longer be just generic. Storytelling and ‘story doing’ will be anchored on kindness. Brands that are able to personalize not just their storytelling but also their story doing will be a hit in 2024. Our messages need to be more personalized. Brands need to recognize that we are human beings before human doing.”

The brand expert further stated that brand messages must live and breathe across all multidimensional touch points at the same time. He encouraged brands to approach the media with an omnichannel mindset. “There will be enhanced measurement, hyper-personalization and an omnichannel approach as brands adapt to the decline of third party cookies.”

Cybersecurity Experts Harp on Information Security in Financial Industry Emma Okonji Experts in the field of cybersecurity have stressed the need for organisations in the financial industry to maintain high level of information security awareness among employees, in order to protect the financial industry from attack on its sensitive data.

The experts stressed the need for training and re-training of employees in the financial industry, while insisting on basic knowledge for all employees to manage sensitive data that sits in the financial industry.

The panelists spoke at a

panel session on information security, organised by the Nigeria Computer Society, with the theme: ‘Information Security in the Financial Industry. Co-founder and Lead Forensic Examinar, Digital Footprint Nigeria Ltd, Dr. Robinson Tombari Sibe, said security awareness in the banking sector has been very low but that the regulator has been awaken to strengthen security in the financial sector that has a lot of data.

“The banks have been very compliant and leading the sector in that regard because they have sensitive data to protect. The Health sector is another sector

that has sensitive data, but I do not think they are very keen about compliance,” Sibe said.

CEO, Hyperspace Technologies, Oluseyi Akindeinde, called on regulatory bodies not to stifle the growth emerging technologies like Articicial Intelligence (AI), Blockchain technology and Internet of Things (IoTs) with regulation.

The immediate past President, Nigeria Computer Society, Prof.

Adesina Sodiya, said his group of researchers carried out a research recently on different categories of employees and narrowed it down to three categories of employees.

26

FRIDAY, JANUARY 26, 2024 • T H I S D AY

MARKET NEWS A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange.

A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg.

Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 24Jan-2024, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 375.84 375.84 21.28% Afrinvest Plutus Fund 100.00 100.00 10.41% Nigeria International Debt Fund 331.51 331.51 1.44% Afrinvest Dollar Fund 108.23 108.23 0.46% 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 13.25% AIICO Balanced Fund 5.57 5.69 10.04% 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 0.00% Anchoria Equity Fund 249.74 252.71 29.01% Anchoria Fixed Income Fund 1.32 1.32 2.67% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com info@anchoriaam.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 39.39 40.57 28.93% ARM Discovery Balanced Fund 785.76 809.45 18.61% ARM Ethical Fund 63.95 65.88 17.28% ARM Eurobond Fund ($) 1.11 1.11 3.11% ARM Fixed Income Fund 1.10 1.10 22.04% ARM Money Market Fund 1.00 1.00 10.66% ARM Short Term Bond Fund 1.01 1.01 9.06% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 107.03 107.03 783.00% AVA GAM Fixed Income Naira Fund 1,171.11 1,171.11 987.00% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn N/A N/A N/A AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn 2.25 2.25 10.54% CEAT Fixed Income Fund 3.66 3.76 303.77% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn 1.02 1.02 8.53% CardinalStone Fixed Income Alpha Fund CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A CHD Nigeria Bond Fund N/A N/A N/A CHD Nigeria Dollar Income Fund N/A N/A N/A CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 10.27% Cordros Milestone Fund 184.34 185.74 6.61% Cordros Fixed Income Fund 108.24 108.24 7.58% Cordros Halal Fixed Income Fund 109.96 109.96 7.98% Cordros Dollar Fund ($) 114.88 114.88 6.28% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 11.38% Coronation Balanced Fund 1.73 1.75 12.96% Coronation Fixed Income Fund 1.42 1.42 -219.34% 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 EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 12.71% Emerging Africa Bond Fund 1.11 1.11 2.24% Emerging Africa Balanced Diversity Fund 1.53 1.54 16.16% Emerging Africa Eurobond Fund 107.86 107.86 1.45% FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund N/A N/A N/A FBN Balanced Fund N/A N/A N/A FBN Halal Fund N/A N/A N/A FBN Money Market Fund N/A N/A N/A FBN Dollar Fund N/A N/A N/A FBN Smart Beta Equity Fund N/A N/A N/A FBN Specialized Dollar Fund N/A N/A N/A FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 7.96% Legacy Debt Fund 3.59 3.59 3.41% Legacy Equity Fund 3.58 3.66 29.16% Legacy USD Bond Fund 1.33 1.33 4.50% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Balanced Fund 6,407.96 6,457.78 N/A Coral Income Fund 4,019.88 4,019.88 8.08% Coral Money Market Fund 100.00 100.00 11.74% FSDH Dollar Fund 1.20 1.20 0.00%

GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.gtcoplc.bank; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Guaranty Trust Money Market Fund N/A N/A N/A Guaranty Trust Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Guaranty Trust Equity Income Fund (VEIF) N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A 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: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 21.34 21.51 16.17% Meristem Money Market Fund 10.00 10.00 12.41% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 102.89 102.89 11.39% Norrenberger Money Market Fund (NMMF) 100.00 100.00 11.56% Norrenberger Dollar Fund (NDF) ($) 102.98 102.98 10.17% 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 2.57 2.61 10.53% PACAM Fixed Income Fund 12.21 12.47 7.79% PACAM Money Market Fund 10.00 10.00 0.00% PACAM Equity Fund 2.74 2.77 26.76% PACAM EuroBond Fund 132.33 135.59 0.33% SCM CAPITAL ASSET MANAGEMENT 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 The Frontier Fund 184.81 189.92 10.47% 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 1.01 1.01 11.02% 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 5,695.74 5,744.70 14.40% Stanbic IBTC Bond Fund 256.57 256.57 4.23% Stanbic IBTC Ethical Fund 2.44 2.47 18.60% Stanbic IBTC Guaranteed Investment Fund 355.36 355.61 0.61% Stanbic IBTC Iman Fund 479.64 485.46 27.14% Stanbic IBTC Money Market Fund 1.00 1.00 11.08% Stanbic IBTC Nigerian Equity Fund 21,632.95 21,898.05 19.26% Stanbic IBTC Dollar Fund (USD) 1.47 1.47 7.18% Stanbic IBTC Shariah Fixed Income Fund 128.83 128.83 6.06% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 126.74 126.74 9.44% Stanbic IBTC Absolute Fund 5,042.75 5,042.75 9.01% Stanbic IBTC Aggressive Fund 6,458.45 6,538.44 20.03% Stanbic IBTC Conservative Fund 5,725.19 5,755.33 8.36% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 1.72 1.74 26.78% United Capital Balanced Fund 2.10 2.12 13.60% United Capital Wealth for Women Fund 1.72 1.73 20.70% United Capital Sukuk Fund 1.19 1.19 8.92% United Capital Fixed Income Fund 1.96 1.96 6.88% United Capital Eurobond Fund 124.74 124.74 5.08% United Capital Global Fixed Income Fund 1.09 1.09 9.69% United Capital Money Market Fund 1.00 1.00 10.74% Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 21.37 21.65 15.95% Zenith ESG Impact Fund 23.89 24.11 9.63% Zenith Income Fund 25.48 25.48 0.56% Zenith Money Market Fund 1.00 1.00 11.50% VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 9.93 10.03 -2.73% Vetiva Consumer Goods Exchange Traded Fund 13.88 13.98 -1.76% Vetiva Griffin 30 Exchange Traded Fund 36.49 36.69 3.04% Vetiva Money Market Fund 1.00 1.00 9.56% Vetiva Industrial Goods Exchange Traded Fund 49.45 49.65 3.25% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 147.83 149.83 0.00%

REITS NAV Per Share

Yield / T-Rtn

130.13 59.99 101.79 11.31

0.21% 0.27%

Bid Price

Offer Price

Yield / T-Rtn

21.33 750.00 889.99 25.16 42.74

23.57 750.00 889.99 25.56 43.21

44.63% 50.00% 24.13% 7.08% 13.45%

NAV Per Share

Yield / T-Rtn

108.40

0.00%

Fund Name

SFS REIT Union Homes REIT Nigeria Real Estate Investment Trust UPDC REIT

0.00%

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

I N F R AST R U CT U R E F U N D 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.

This

Weekend

FRIDAY, JANUARY 26, 2024

Group Features Editor: CHIEMELIE EZEOBI chiemelie.ezeobi@thisdaylive.com

07010510430

WEEKLY MAGAZINE

OBA ABDUL-RASAKI FAMUYIWA:

Lafarge’s Contribution to Our Community is Enormous

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COVER

Oba Abdul-Rasaki Famuyiwa: Lafarge’s Contribution to Our Community is Enormous In commemoration of its 2023 Community Day Celebration, the leading building and innovative solutions company, Lafarge Africa Plc., recently launched several CSR projects across its various host communities nationwide. This event is an annual celebration that Lafarge Africa undertakes to give back to its host communities and demonstrate its commitment to doing sustainable business in Nigeria as a responsible corporate citizen. Lafarge Africa operates in Ashaka, Gombe State; Mfamosing, Cross Rivers State, and Ewekoro, Ogun State and the community day is celebrated across all these locations. In Ewekoro, several projects were launched in each of the host communities after careful planning and collaboration with the community. One of the royal fathers in Ewekoro, the Onipapa of Papalanto Land, HRM, Oba Abdul-Rasaki Famuyiwa, says these projects have had a positive impact on the communities over the years. In an interview with MARY NNAH, Oba Famuyiwa highlights these projects and their impact on the communities over the years in Papalanto and are now equipping it. They have also provided significant support to our primary school. While the government has done its best, we must work together to support our community, and Lafarge has been a vital partner in this effort.

Although we are grateful for what they have done, we will continue to ask for more, including support for our Kabiyesi and other community leaders.

Your Majesty, could you please share some information about your background with us? am the Onipapa of Papalanto, Ewekoro Local Government, Ogun State. I was born and raised in Papalanto, where my great-grandfather founded the community many years ago. I am grateful to have had the opportunity to attend school and pursue my career elsewhere before returning to Papalanto to become the Kabiyesi of the community in 2008. Since then, we have been working together to manage and develop the area. All glory to God.

I

Share with us your experience and life in the community when you were growing.

As I mentioned earlier, I was born and raised in Papalanto. My mother owned a house here and my father has deep roots in the community. I attended primary school here before pursuing further education outside of Papalanto. After completing my studies, I worked for many years and eventually joined Lafarge, where I worked for nearly 20 years.

In 2008, I was honoured to be called upon to serve as the Kabiyesi of Papalanto. Since then, I have maintained a strong and positive relationship with the people of this community. Even those who knew Papalanto many years ago are impressed by the positive changes we have made here. Over the years, Papalanto has experienced significant growth and development. Although the community used to consist of 25 villages, we now manage around 15 villages. We welcome visitors and other ethnicities to Papalanto with open arms. We have established good relationships with local companies, colleges, and plastic industries. We are proud of the progress we have made and the relationships we have built.

Papalanto is a welcoming and thriving community, and we are grateful for all those who support us.

Let’s talk about your educational background and career growth, sir.

I have worked in the electrical department of Lafarge for 19 years. Although I didn’t attend university, I did start from technical school and have acquired every certificate necessary for my work. I have attended another technical school, as well as the Lafarge African Training Center in South Africa, where I received additional training and certification in electrical work. Throughout my career, my focus has been on electrical work.

How has the community changed since you became the Kabiyesi of Papalanto? What have been the key social and economic changes during your reign?

As I mentioned before, those who knew Papalanto before my time as Kabiyesi would recognize the significant changes that have taken place. Many people used to believe that the only place called Papalanto was the Expressway, but I am grateful to have played a role in establishing this community. Before my reign, there were only a few areas called Papalanto with limited development. There were only a few homes and one company, Benson. However, when I became Kabiyesi, we brought in several companies and initiated more development projects. Today, it can be challenging to find available land to build a house in Papalanto due to the fast-growing development.

Our community has transformed significantly and continues to do so, with the help of Lafarge, a company that has contributed to our growth as part of our host community. Evidence of their impact can be seen left and right as you come into the community, as well as in the primary schools they have helped to build. I believe that God is working with us and is in control of our progress.

I have a strong personal connection with Lafarge.

My junior brother works there, my senior brother received his education from the company, and even our children are employed there. I challenge any of the 12 host communities in Ewekoro to come forward with negative feedback about Lafarge. I stand by Lafarge’s contributions to our communities; I stand by the fact that Lafarge has done so much for our communities. While the government may not be able to do everything, Lafarge has helped us significantly and they have done far more for

Health Centre constructed by Lafarge for the Papalanto Community

HRM with one of Lafarge officials during a tour of the Health Centre us than the government has. If we feel that they could do more, we should communicate that to them directly instead of resorting to underhanded tactics or resorting to blackmail.

Speaking for Papalanto, we are grateful for everything Lafarge has done for us.

Lafarge’s projects have been a boon to many communities, but it’s concerning that they don’t seem to take the population of a community into account. Giving an equal share of resources to a village of 20 and a village of 120 is not fair.

As a responsible corporation, Lafarge should consider the population of each community and allocate resources accordingly. This would ensure that everyone benefits equally from their projects and no one is left behind.

Would you kindly provide an overview of the projects implemented by Lafarge Africa Plc. in the Ewekoro communities?

Lafarge Africa Plc. has executed various projects in the Ewekoro communities. They have trained and equipped 48 individuals from the host communities with skills and tools to start their businesses. They have granted bursaries to support 204 local students enrolled in public tertiary institutions in Nigeria.

They have distributed educational materials such as school uniforms and writing supplies to improve learning standards in public schools within their host communities. They have also provided business equipment to 192 elders residing across their host communities. The company has been involved in supplying health centres in the Papalanto community with essential equipment and medicines. They constructed a culvert in Wasinmi Alafia to improve access to the outside world and furnished staff quarters

at the Elebute community’s health centre, as well as erecting a fence around the community town hall.

They also embarked on building a 100-meter reinforced concrete road in the Alagutan community. They renovated and fenced the Egbado Ajegunle health centre and constructed staff quarters for the Itori community magistrate court. Currently, they are constructing a culvert in the Olapeleke community and extending electrification services to the newly relocated Okeoko Egbado community.

They are replacing a 330KVA transformer at the Okeoko Sekoni community and also at the Akinbo community. The company conducts medical outreach programs and other initiatives aimed at enhancing the livelihoods of the Ewekoro community members. They have distributed over 5,000 exercise books to primary and secondary schools in the host communities.

However, just because my family members and I have worked there does not mean I will not speak the truth. Lafarge is a company that has done a lot for the people in our community.

My father was employed there in 1957 as the first driver, and my elder brother attended their trading school before becoming the manager at Central Bank. He has since passed away.

I also worked at Lafarge for over 19 years and was fortunate to travel the world and receive a lot of training. My younger brother still works in Lafarge’s mechanical section today, and many of my service chiefs worked there for 30 to 35 years.

Lafarge provides many benefits to our community, including scholarship schemes, bursaries, and support for our elderly and artisans.

They have built a magnificent Health Centre

Okay, sir, tell me honestly, how the community has felt about the presence of Lafarge in this area.

I am grateful to God for creating a company like Lafarge in our community. Although there is still room for improvement, they have done a lot and provided job security to many people. Lafarge has positively impacted the lives of many people living in villages that were once unknown and now thriving, thanks to the company’s presence.

We thank God for Lafarge’s contribution to our community, which is so enormous and pray that the company continues to grow and thrive. We hope that more companies like Lafarge will come to Ewekoro so that our infrastructure and community can continue to grow.

So, are you saying that Lafarge has never had any negative perception in Ewekoro?

It is natural for some people to complain, even if they are given equal treatment. For example, even if a parent loves all their children equally, one child may still feel that they are not loved enough. Similarly, Lafarge, a company that provides funds for community projects, treats all sections equally and does not show favouritism to anyone. However, some sections may not use the project funds given to them properly and then complain about a lack of resources. When this happens, they blame Lafarge for their misuse of funds. Therefore, some individuals will always ask for more, just like Oliver Twist.

However, when communities have issues amongst themselves, they should not associate it with Lafarge.

The problems that arise within the community should not affect Lafarge. Lafarge only makes a host community if they identify valuable resources within your community, such as mineral resources.

Only then will they approve you to become part of the host community?

Ewekoro has been benefiting from Lafarge for over 20 years. I can confidently say that Lafarge has been providing them with project funds and other resources. However, it would be great if they could showcase the projects that were executed with the funds received. They must be aware of where they are investing their money.

My brother, father, and many others have worked with Lafarge for almost 35 years. Some of them are still alive and aged, while others have passed away at ages 80 to 90. I have never seen any of them taken to the hospital during that time and told that it was the cement that caused their illness.

So if they’re having their problems they should not involve Lafarge. How is it possible for a small village to have two leaders, while one section that does not benefit from the project money is now going to the media to criticize the village and Lafarge? It’s unfair to write negative things about Lafarge, which has been benefiting the community. One section out of twelve cannot continue to create problems that affect other communities. If we do so, it will bring negative impacts on those who are benefiting from Lafarge. I still have children who have the potential to benefit from Lafarge, so I do not want Lafarge to go extinct.

What advice do you have for investors looking to do business in the community?

If there are any more investors interested in Ewekoro, they are welcome. We do not engage in ‘omo onile’ practices here, so you can be assured of a safe investment. There is a rumour that visitors are not allowed to stay in Papalanto, but that is not true. Visitors have always been welcome here, even more than the locals. Investors can buy land here and leave it until they are ready to develop it. The land will remain intact and ready for development.

Ewekoro is a highly conducive area for investments.

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Gates Foundation CEO Charges Philanthropists to Increase Giving to Save, Improve Lives Chiemelie Ezeobi The CEO, Bill & Melinda Gates Foundation, Mark Suzman, has called for philanthropists to give more and give now to meet the unprecedented challenges nations across the globe face in combatting poverty, eradicating disease and fighting inequality.

The call, which was contained in his annual letter, noted that in the years since the COVID-19 pandemic struck, the world has seen a backslide in progress at a time when low-income countries have fewer resources to meet basic human needs.

And yet, there is a robust pipeline of health and technological innovations and proven solutions that could be scaled up or catalysed with the advent of additional philanthropic dollars.

“Philanthropy can take risks and help fill gaps that would otherwise be overlooked or underfunded,” Suzman writes.

“We have the opportunity to realize the full potential of philanthropy at the moment when the world needs it most”.

According to Forbes, the net worth of the world’s 2,640 billionaires is at least $12.2 trillion. Suzman points out that with just $1 billion in additional giving—a tiny fraction of that amount— philanthropists could fund a set of high-impact, low-cost

Mark Suzman interventions that could save the lives of 2 million additional mothers and babies by 2030.

With $4 billion, they could help half a billion smallholder farmers become more climate resilient and reduce greenhouse gas emissions from agriculture by 1 gigaton a year by 2030. With a little more than $7 billion, they could get vaccines to 300 million people, preventing at least 7 million deaths.

This immense potential to respond to compounding global crises and accelerate progress is why the Gates Foundation is stepping up its funding support.

Earlier this month, the Gates Foundation’s board of trust-

ees approved a 2024 budget of $8.6 billion—the largest ever—which the foundation will use to fund innovative ways to save and improve lives.

In 2022, the foundation announced its intent to increase its annual payout to $9 billion by 2026, and it is committed to spending down its endowment within 20 years of its founders’ deaths to focus on solving urgent problems now and helping set up sustainable systems for the future.

Suzman’s letter also highlights the growth and evolution of philanthropy globally, citing organisations such as the African Philanthropy Forum that is helping African donors work together to drive

inclusive, sustainable development across the continent and foundations based in countries like India, China, and Singapore are taking on more local and global problems.

“The philanthropic ecosystem looks different than it did when I started doing this work over 15 years ago, and that’s a good thing,” he writes. “Donors around the world are bringing bold vision and lived experience to complex challenges.”

Small donations made by millions of people worldwide are also having an enormous impact. Suzman underscores that nearly half the world’s countries participate in Giving Tuesday, a movement that has facilitated more than $13 billion in donations since 2012.

As Suzman writes, “Today’s world has no shortage of complex problems to be tackled or innovators ready to take them on. But without generous investment and persistent support, great ideas remain just that: ideas. If more people step up their commitments and focus their resources on the areas of greatest need, those ideas can translate to impact.”

Guided by the belief that every life has equal value, the Bill & Melinda Gates Foundation works to help all people lead healthy, productive lives. In developing countries, it focuses on improving people’s health and giving them the chance to lift themselves out of hunger and extreme poverty.

Metro and Castle Transitions into Next Phase of Development Stories by Mary Nnah Metro and Castle Limited, a fullservice real estate company with a proven track record of delivery in real estate, is poised to transition into its next phase of development ideas, which is going way harder on its mission target of building 300 housing units at its inception in 2018.According to its Managing Director /Chief Executive Officer, Mr. Abdul Adekunle Rasheed, when the company began the journey in 2018 its first five years goals and objectives were to provide 300 housing units and three retail outlets.

“Metro Group was conceived in 2018 and our ultimate goal is to provide good communities and conducive environments for people and all necessary infrastructures and facilities in place and also bridge the gap betweenfraudulentengineersand developers. We want to bridge that gap and make people feel very comfortable to invest their

Metro and Castle CEO, Abdul Adekunle money in Nigeria.”

“We are hoping and working towards delivering at least 500 housing units within the next five years while we also upscale the environment with our third retail outlet.”

“We have other things coming

in like the sports centre. We had to collapse the initial one because it was too small. It was 1, 200 square metres but now we are building it on more than 4,000 square metres.

We are going to have about three football pitches, badminton and some other things in the sports

centre. So, it is a bit more loaded than the old one”, Rasheed noted.

Expressing that Metro and Castle is striving to wrap up its firstfiveyearsgoalsandthenmove to the second phase of its community development, he noted, “We are currently conceiving new estates as I speak. We have signed a couple of joint ventures, trying to acquire one or two properties here and there and development has begun in earnest.”

Rasheed recalled that the Metro and Castle Limited was born out of a need to provide community solutions to the Nigeria environment as a whole.

“Metro and Castle was conceived out of the frustration of many individuals, mostly people in diaspora. You hear stories like we bought a house from one Nigerian developer and the house is not ready for more than two years or we got duped. I think that gave us a problem to solve. So, we are not just doing business as usual, I believe we are in the environment to solve problems.”

Caring Hearts Gives Hope to Indigent Children CoreQuality CB Limited Pioneers Excellence

Caring Hearts Heritage Initiative (CHHI), a non-governmental organisation,whichaimstogivehope to the less privileged in the society byprovidingfreeeducationthereby reducing extensively the number of children that are out of school, recently brought its beneficiaries to gather to give them hope and joy.

HeldattheRedeemedEvangelicalMission(TREM)Headquarters premises atAnthony, Lagos State, theannualend-of-yearparty/educationalcounsellingfortheindigent andout-of-schoolchildren,tagged, Project Hope and Joy, is CHHI’s was of rendering caring hearts to the less privileged children and also giving them joy and hope for a better future.

Speaking during the event, the ExecutiveDirector,CHHI,Henrietta Otoabasi-Akpan, said, “We are the organisationresponsibleforquality educationandthatiswhatwedrive in the United Nations Sustainable Development Goal. Out of the 17 goals, we are driving majorly goal

4 which is quality education and we are focusing on children from the tender age to the tertiary level from the financial disadvantage background.

Reiteratingonwhytheorganisation is focusing more on children, Otoabasi-Akpansaid,“Wefindout that when there are problems in the society - financial difficulties, economic hardship, or any form of problem - children are more vulnerable. That is why our focus is primarily on children and their education, mental and social wellbeing, after which we look at empowerment for their parents.

“We found out that parents of these children would not allow themtogotoschoolbecausetheyare using these children for economic value.Thesechildrenarevulnerable and can’t help themselves, so we endeavour to make these children go to school”, she noted.

Otoabasi-Akpan said further that Project Hope and Joy was to ensure that the indigent children

in ISO Certification for Nigerian Industries Founder CoreQuality CB Limited, Mr. Obioma Onwukwe, has said that the company stands out in Nigeria’s ISO certification scene with its client-centric focus and comprehensive suite of services.

Speakingwithjournalistsrecently inLagos,Onwukweexplainedthat thecompany’scommitmenttohigh standardsandavisionforleadership makeitareliablechoice,adding,“We empowerorganisationsforexcellence whileupholdingprofessionalismand integrity.”

HenotedfurtherthatCoreQuality CBLimitedwasfoundedinresponse totherisingdemandforlocalcertificationbodiesinNigeria,addingthatthe companyfocusesonqualitymanagement,environmentalmanagement, occupationalhealthandsafety,and various ISO standards.

“CoreQuality CB’s unique strength lies in its client-centric methodology, offering an array

of comprehensive services that go beyond the conventional scope of certification”, he added.

Tailoring solutions to diverse industries, the company offers industry-specific training, auditing, consultation, and compliance support. Notably, CoreQuality CB played a pivotal role in an IT company’s ISO 27001 certification, enhancing information security practices.

“CoreQuality CB Limited provides a comprehensive suite of services, including ISO certification, auditing, training, testing, assessment, and calibration.

We cover ISO standards such as 9001:2015, 14001:2015, 45001:2018, 27001:2022, and 22000:2018. Our tailored approach ensures clients meet industry-specific standards, offering training programs and assessmentsforeffectivemanagement system implementation.

O’SAUNDERS RETURNS WITH A BANG After a few years break from the fashion sector, talented designer, Olabisi Saunders, owner and creative director of O’Saunders, a fashion brand, is making a comeback in a grand style.

At the private viewing of her new collection, “Metamorphose”, recently in Ikoyi, Lagos, Saunders, who makes the designs from scratch by herself, starting from the creative processes to the finishing, said, “I was born into it. My mom is a fashion designer. So, it is something I was born into. Then I went to a fashion school in Ghana to study, so my Bachelor of Arts is in Fashion Designing.”

Professionally, Saunders has been a fashion designer since 2015, however, she took a break from 2019 to 2023 for medical reasons and also to find herself but now she is fully back. She made a comeback recentlywith“Metamorphose”,herveryfirstcollectionafteralongbreak.

Speaking on the motif behind her new collection, she said, “This particular collection, called, “Metamorphose”, it’s like coming out. I was inspired by the butterfly. You know a butterfly comes from the larva stage up to a full-blown butterfly. That is pretty much how my life has been since 2019 till now. I wanted to stay back and find myself, health-wise, personally and everything. I think I have and so I am out now flapping my wings as a full-grown butterfly.

While on recess for that period, Saunders was not idle even though she undoubtedly missed the industry.

“Obviously I did miss the industry and doing shows but all of these being at the back end of everything, I have been producing even while I was away. So, if you go to my store now, you will find clothes that I have produced even though I wasn’t fully into it.

On what inspires her designs, she said, “Nature, life, paintings and other things.

I paint on my pieces and most of my works are hand painted, so obviously I like any cotton-based fabric. I also love structure that is why most of the time you find me working with structure.

Saunders, who does clothing for both male and female as well as accessories, spoke of her target audience, she said, “Aconfident man or woman, who can take risks in dressing up. When you look at my collections you can tell that it is a risk-taking collection. They are not things that somebody who is on the fence can wear. So, if you follow what the society has to say about you, then I don’t think you can dress up in some of my designs.”

For her, “It is okay to sometimes take a back seat and think about yourselfandbusiness,becausesometimespeoplejustputthemselvesout there when they are not ready. But for me, I think you have to be ready because this business comes with a lot of ups and downs - financially, mentally and socially, you have to be there.

“Iamonepersonthatdoesnotlikegoingoutbutwiththiscomeback, I have to start going out because you need to network as a designer.

Another thing I am passing is that, no matter what you go through in life, the most important thing is how you come out of it.

“I want to say a big thank you to my clientele for holding it down for O’Saunders. I know a lot of people have been asking when I will come back. Well, O’Saunders is here and with a bang.”

OVER 600 INDIANS CELEBRATE THE CONSECRATION OF GEETA ASHRAM IN LAGOS Over 600 Indians in Lagos, converged at Geeta ashram Lekki, an Indian temple, to celebrate Deepotsav, “festival of lights and Bhajan sandhya the recitation of Hindu holy prayers on January 20th.

The event heralding its global programme was the consecration ceremony of a spectacular Shree Ram Temple at the exact birthplace of Lord Ram inAyodhya city situated in Uttar Pradesh, state of India, held on January 22nd.

SpeakingattheceremonywasarepresentativeofHinduSwayamsevak Sangh (HSS) Foundation Nigeria, a cultural and charitable non profit nobleorganisation,RajeevOdhranisaidLordRamisadeityworshiped by all Hindus across the globe. For all Hindus this occasion is very auspicious and a once in a lifetime moment because this temple was destroyed by invaders and is now being rebuilt legitimately.

“With universal acceptance after 550 years of long struggle for which many generations strived and many of the Indian Hindus sacrificed their lives, Odhrani explains why many Hindus admire Lord Rama who is portrayed as an ideal man, and a symbol of spiritual love and devotion. He said Lord Rama, is the seventh avatar of Vishnu and is not just a popular deity in Hinduism, but a cultural icon and moral compass whose importance transcends generations.

Also, Sharath Menon said Rama represents the divine, possessing qualities like righteousness, compassion, and selflessness. He is the manifestation of Dharma and moral law, on Earth.

Menon stated that Lord Rama, could be described as the epitome of morality, also known as ‘Maryada Purushottama,’ the perfect man who adheres to moral principles, Rama sets an exemplary standard for conduct. His unwavering commitment to truth, integrity, and devotion makes him a role model for leading a virtuous life.

HeaddedthatRama’slegendaryvictoryoverthedemonkingRavana is a potent symbol of the triumph of good over evil. This narrative not only inspires hope and faith but also motivates individuals to face their own struggles with relentless determination.

ChandraBondeunthmsaidthatmillionsrespectLordRamaandseek blessings for good health, prosperity, and success. From selflessness to loyalty, his qualities offer a handbook for leading a noble life. Chanting hisname,readingtheRamayana,orperformingritualsdedicatedtohim are considered ways to connect with the divine and seek his guidance.

Anil Naganwal noted that Lord Rama has immense significance in Hinduism, that transcends his divine origins. Generations pass, yet his tale never gathers dust. It lives on, breathed into life by a million voices onwards. Lovely Sharma expressed delight over the celebration because her birthday, January 22 would be celebrated alongside the consecration of Lord’s Ram temple Geeta Ashram.

Furthermore, ‘The Indians believe that this is not only a moment of Revival of ancient Hindu heritage and Culture but also a major Milestone in the path of India that is Bharat becoming a “Vishwa Guru” meaning a beacon for the entire world for peace and harmony with an ideology “Vasudev kutumbakam” that is world is one family.

Meanwhile, the Indian community members that attended the function included Hindus from Nepal and Pakistan also. Lord Ram is considered to be an ideal King, honest ruler, and carries complete human characteristics to guide the entire humanity to live and prosper in peace and harmony.

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IMAGES

T H I S D AY ˾ DAY Ͱʹ, ͰͮͰͲ

Photo Editor Abiodun Ajala Email abiodun.ajala@thisdaylive.com

L-R: Enugu State Commissioner for Agriculture, Mr. Nwabueze Ubru; Chairman, House of Representatives Committee on Agriculture, Adeniyi Adeyemi; and President, National Cashew Association of Nigeria (NCAN), Dr. Ojo Ajanaku, during NCAN 2024 National Cashew Day and flag-off of cashew season in Enugu…recently

L-R: Wife of Commander of 9 Brigade, Ikeja, Lagos, Mrs. Nneka Adetuyi; Assistant Inspector General of Police (AIG), Force Annex Alagbon, Idowu Owohunwa; Brigadier-General Adegoke Adetuyi of the 9 Brigade, Ikeja; and Lagos State Commissioner of Police, Fayoade Adegoke, during the send-forth party in honour of AIG Owohunwa in Lagos… recently

L-R: Osun State Governor, Senator Ademola Adeleke, presenting a gift to the state Police Commissioner, Mr. Bzigu Dali Kwazhi, while the Assistant Inspector General of Police (AIG) Zone X1 Command watches on at an event held at the Governor’s Office in Osogbo…recently

L-R: Members of Yoruba Regional Alliance of Self-Determination Group, Kamorudeen Akinyemi and Saka Saheed; Chairman of group, Chief Kunle Adesokan; and Secretary of group, George Akinola; at a news conference by the groups in Ibadan, Oyo State…recently

L-R: Risk and Compliance Officer, Leadway Capital and Trusts Limited (LCT), Oluwakemi Jenyo; Head of Business Development, LCT, Funmi Dosunmo-Ayoola; Head of Corporate Services, Leadway Holdings, Aishat BelloGaruba; Managing Director/Chief Executive Officer, LCT, Ayodeji Wuraola; Team Lead, Trusts Services, LCT, Aisha Navi-Ogene; and Head of Trusts Services, LCT, Oliver Obi, at the strategic media parley for Leadway Capital and Trusts Limited...recently PHOTO: KOLAWOLE ALLI

L-R: Chair, Scientific Conference of Paediatric Association of Nigerian Conference (PANConf) 2024, Dr. Chris Esezobor; Partner at PwC, Kunle Amida; President, Paediatric Nephrology Association of Nigeria, Dr. Uche Okafor; former President, Paediatric Association of Nigeria, Dr. Austin Omoigberale; Chief Executive Officer, AXA Mansard Health/Keynote Speaker, Tope Adeniyi; and Consultant Paediatrician, Dr. Ezra Ogundare, during the 55th Annual General Meeting and Scientific Conference of the Paediatric Association of Nigeria, held in Lagos…recently

T H I S D AY • FRIDAY, JANUARY 26, 2024

31

POLITY Wigwe’s Unquenchable Desire to Position Access, Nigeria on Global Scene Donatus Eleko

I

n continuation of Herbert Wigwe’s aggressive expansionist drive, Access Bank Zambia Limited last week, announced the completion of its acquisition of African Banking Corporation Zambia Limited (also known as Atlas Mara Zambia), after obtaining all requisite regulatory approvals.

The latest development confirmed that from Nigeria to Rwanda, Ghana, South Africa, Mozambique, Kenya, Zambia, Angola, France, United Kingdom, Botswana, Guinea, R.D. Congo, Gambia, Tanzania, Uganda, among several other countries, the expansionist adrenaline rush in Wigwe, who is the Group Managing Director of Access Holdings, has remained on the rise.

His vision is clear to all, build an African behemoth that can compete any around Western hemisphere. In this he is relentless, audacious and fearless. His passion is infectious and electrifying. His energy unmatched and the result, the rise and rise of Access Holdings.

In a string of expansion across the African continent, the bank intends to leverage the African Continental Free Trade Area agreement (AfCFTA) to expand its footprint across the continent.

Beyond the AfCFTA, under the leadership of Wigwe, Access Holdings is clearly following the path of JP Morgan of Citibank in terms of footprints, both at home and internationally.

Even his Wigwe University which is presently admitting its first set of students, would play a pivotal role in bridging the skills’ gaps in the continent and ensure that the right manpower is developed for African businesses and for the rest of the world. The Wigwe University is based on high-standard teaching quality, established to build a new generation of leaders, entrepreneurs and scientists. It is Africa’s gateway to the world of entrepreneurship, technology, innovation, and impact. Wigwe’s mission, through the Wigwe University, is to change the course of Nigeria’s future through committed and world-class faculty and globally relevant and locally impactful curricula taught through novel methods to rival the globe’s most respected universities.

Commenting on the transaction, Managing Director/Chief Executive Officer of Access Bank Plc, Roosevelt Ogbonna said, “This marks a significant milestone for Access Bank Plc as we work towards achieving our vision of being the world’s most respected African bank. We are poised for success by harmonising the robust brands, rich heritage, shared values, and best practices of both companies in creating opportunities that extend to all our stakeholders in Zambia and the SADC region.”

For his part, the CEO Access Bank Zambia, Lishala Situmbeko added, “We are extremely pleased that this transaction has come to a close.

By bringing together these two great businesses, we are creating a stronger, more competitive financial institution that will play a role in delivering on Zambia’s economic recovery.

“We look forward to leveraging the operational and cultural strengths of both businesses to benefit all stakeholders. As we continue to finalise the alignment of our products and services, we will ensure that our customers continue to enjoy the benefits of the broader product suite in the future. “Ultimately, we want to continue to deliver a holistic service offering that benefits our customers from a shared focus on financial inclusion and digital banking.”

Upon full integration of the two banks, customers would have access to a total of over 60 branches, five cash centres, eight agencies, more than 5,300 Tenga Express Agents and a network of over 160 ATMs across the country.

Corporate customers would benefit from a larger combined balance sheet, a broader international footprint and increased access to trade finance, treasury, international payments and loans via the wider distribution network of the enlarged bank which today spans three continents and 21 markets. Stakeholders would also benefit from Access Bank’s presence in the

Wigwe

key trade corridors which connect Africa with the United Kingdon, UAE, China, Lebanon, France, Hong Kong and India.

SMEs would benefit from the existing banking proposition aimed at encouraging and supporting their growth ambitions.

Additionally, the public sector would benefit from the enhanced focus on digitalisation and ease of revenue collection and the combined company would create significant opportunities for employees’ professional and career development through being part of a larger network both in the country and globally.

“Across Zambia, stakeholders will benefit from the presence of an African financial services group that, at its core, has been built on the foundation of ensuring that the communities within which it operates are better equipped to succeed.

“The merger will provide the opportunity for the combined bank’s stakeholders to benefit from Access Bank’s commitment on extending financial services to the unbanked and deepening its financial services offerings to banked customers,” they stated.

Atlas Mara Acting Managing Director Bobbline Cheembela, said, “Combining with Access Bank allows us to bring together the best qualities, capabilities and resources of both organisations. Atlas Mara’s expansive network and contribution to the public sector and capability in global markets and treasury, combined with Access Bank’s focus on SMEs and making trade finance, treasury, and corporate lending expertise available to Zambian MNCs and SMEs has not only created an industry leader, but a champion for our country.

“We now have a better rounded and

more comprehensive skill set available to us as a combined business and this enables us to better serve our customers and other stakeholders,” he added.

Few days after announcing its acquisition of African Banking Corporation Zambia Limited, Access Bank Plc also announced the signing of a definitive agreement with the Ugandan-based Finance Trust Bank Limited (FTB) and its Selling Institutional Shareholders for the acquisition of a majority equity stake in the former.

The move was expected to enable the Nigerian bank own about 80 per cent shareholding in FTB following the conclusion of customary conditions precedent.

The transaction involved Access Bank’s acquisition of a majority stake from existing shareholders and a capital injection to increase FTB’s capital base.

However, both the acquisition and planned capital boost remained subject to regulatory approvals by the Central Bank of Nigeria (CBN) and the Bank of Uganda.

Access Holdings stated in a statement issued by its Company Secretary, Sunday Ekwochi, that the transaction should be closed in the first half of 2024.

Commenting on the transaction, Wigwe, the Group Chief Executive, Access Holdings, said the development marked an important milestone for the bank, and “moves closer to the achievement of our five-year strategic plan through continued expansion into key markets.”

He said, “We are building a strong and sustainable franchise to support economic prosperity, encourage Africa trade, advance financial inclusion thereby empowering many

to achieve their financial dreams.

“The expansion to Uganda will support the realisation of our aspiration to become Africa’s payment gateway to the world.”

According to Wigwe, across Africa, there is an opportunity for the bank to expand to high-potential markets, leveraging the benefits of AfCFTA. He said AfCFTA, among other benefits, would expand intra-Africa trade and provide real opportunities for Africa.

He stated that the plan is for the bank to establish its presence in over 22 African countries as well as some strategic locations outside the continent so as to diversify its earnings and take advantage of growth opportunities in Africa.

According to him, Africa has enormous potential and there are opportunities for an African bank that is well run, that understands compliance and has the capacity to support trade and the right technology infrastructure to support payments and remittances, without taking incremental risks.

“We believe that we are best positioned to basically do all of that. Our focus is to become an aggregator in Africa and we are building a global payment gateway and providing trade finance support and correspondent banking across the continent. We are focusing on the key markets.

“The approach would always be that in the country we wish to go to, that we have the right skills. We would not just be a drop in the country in which we are present, we would make sure that we have an impactful presence in each of the major countries in which we are present.

“In doing this, we are also mindful of the country we are going to so as to make sure that it is of benefit to the bank. As we do this, we are working with our friends and partners.

“We are diversifying our earnings away from volatile markets as well and we are orchestrating our operations from the global payments gateway and ensuring that using Access Bank UK, providing corresponding services from digital platforms, the overall profitability of our franchise,” he explained.

Commenting further, on AfCFTA, he said the bank would use its digital framework to benefit from the deal.

“We think we need to continue to entrench ourselves in the local market because there is still so much work to be done.

“So, we are doing everything possible to satisfy our customers and also to ensure that our channels are adequately secured. We are also ensuring that our staff are very efficient,” the CEO said.

Also, Ogbonna, stressed that the ongoing expansion drive would position the bank to take due advantage of AfCFTA. He said, “Trade flows in East Africa revolve around key trade corridors, with Uganda being a key player in the region. With the African Continental Free Trade Agreement, these corridors will continue to expand and by deploying our best-in-class financial solutions, we are strategically positioned to deliver value for our stakeholders.

“The transaction will enable the Bank to leverage its strong experience in the gender empowerment market to support FTB’s mission to deliver innovative financial solutions to customers especially women which currently comprises about 40 per cent of its customers.”

He said, “The Bank’s African growth strategy is focused on consolidation within the key regional trade blocs to harness the full benefits of its legacy investments across the continent.

“The bank will continue to deepen its market share with a view to delivering sustainable profit across all countries of operations.”

Indeed, Wigwe has positioned Access Holdings and his Wigwe University to continue to support the growth of African businesses as well the development the desired manpower for the continent so as to deepen economic integration, attract more investments to the continent, boost trade, provide job opportunities, create a new generation of entrepreneurs and support efforts by governments across the continent to reduce poverty and increase prosperity.

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FRIDAY, JANUARY 26, 2024 T H I S D AY

BUSINESS/MONEYGUIDE

NPA, NCS to Deepen Collaboration to Drive Exports,Trade Facilitation Gilbert Ekwugbe The Nigerian Ports Authority (NPA) and the Nigeria Customs Service (NCS) have pledge to work together to deepen trade facilitation and drive exports as part of measures to support the federal governments economic diversification effort.

They made the pledge yesterday when the Comptroller General of the NCS, Bashir Adewale Adeniyi led members of his management team to NPA’s headquarters, Lagos. Doing so, they stated, will improve Nigeria’s export earnings and facilitation of export cargoes onboard ocean going vessels.

Speaking, the Managing Director of NPA, Mohammed Belo-Koko said there is a need to streamline export desks to make facilitation

of cargoes onboard vessels seamless.

The NPA boss, however, frowned at situation where Export Processing Terminals (EPTs) report to export desk at the seaports.

“We have raised the issue of export. We have seen a tremendous increase in percentage and quantity of export cargo and we appreciate that but, we still have a little problem because we have an issue of multiple export desks, “he said.

Speaking further, BelloKoko, urged the Customs CG to include the authority as part of agencies of government that would benefit from the proceeds of auctioning of overtime cargoes at the ports.

According to him, the authority expended huge funds in moving the

overtime cargoes from the seaports to the Ikorodu terminal.

“On the issue of overtime cargo, the committee was set up where Nigerian Customs led and an assessment has been done.

Everyone has gone round the port and we know the impact of overtime cargo on the activities of terminal operators. It has occupied a lot of economic space and it’s creating difficulty in clearing cargo because there isn’t space. The ports are very small, however, the auction has actually started, the bid has started and the overtime containers have been moved to some locations but in our initial discussions, we have asked that all the money Nigerian Ports Authority spends should also be considered, “ he stated

Cybersecurity Experts Harp on Information Security in Financial Industry Emma Okonji Experts in the field of cybersecurity have stressed the need for organisations in the financial industry to maintain high level of information security awareness among employees, in order to protect the financial industry from attack on its sensitive data.

The experts stressed the need for training and re-training of employees in the financial industry, while insisting on basic knowledge for all employees to manage sensitive data that

sits in the financial industry.

The panelists spoke at a panel session on information security, organised by the Nigeria Computer Society, with the theme: ‘Information Security in the Financial Industry.

Co-founder and Lead Forensic Examinar, Digital Footprint Nigeria Ltd, Dr. Robinson Tombari Sibe, said security awareness in the banking sector has been very low but that the regulator has been awaken to strengthen security in the financial sector that has a lot of data.

“The banks have been very compliant and leading the sector in that regard because they have sensitive data to protect.

The Health sector is another sector that has sensitive data, but I do not think they are very keen about compliance,” Sibe said.

CEO, Hyperspace Technologies, Oluseyi Akindeinde, called on regulatory bodies not to stifle the growth emerging technologies like Articicial Intelligence (AI), Blockchain technology and Internet of Things (IoTs) with regulation.

Bloocloud Partners Zoho Corp, Appoints New Management Michael Olugbode ÓØ ÌßÔË Bloocloud Tek Consult Nigeria has announced a strategic partnership with Zoho Corporation, a leading global provider of cloud-based business software and web-based tools.

This collaboration expands Bloocloud’s offerings and empowers Nigerian businesses of all sizes to streamline operations and optimize growth.

The company’s Managing Director/Lead Solution Architect, Dr Israel Atoe, disclosed this in a statement.

He said, “This partnership

allows us to provide tailored business management solutions to both large organizations and SMEs.” According to Atoe, “Zoho’s integrated ecosystem and Bloocloud’s expertise will help Nigerian businesses automate processes, gain realtime insights, and ultimately achieve their goals.”

Zoho’s comprehensive suite of solutions covers diverse business needs, from customer relationship management (CRM) and project management to finance, human resources, and marketing.

Bloocloud will act as a Zoho Authorized Partner, reselling subscriptions, providing consulting services, and customizing Zoho solutions for seamless implementation and ongoing support.

The company also announced the appointment of Udo Otobong as its new Managing Partner. Udo brings a wealth of experience in crafting and deploying business management solutions, CRMs, and ERPs. Previously, he held a senior position at Sage where he led partner account sales in Nigeria.

PAL Pensions Pledges Commitment to Client Satisfaction PAL Pensions, has reiterated its commitment to building upon the notable accomplishments of the previous year with the objective of client satisfaction in 2024.

PAL Pensions achieved significant milestones in the past year, showcasing its commitment to excellence.

It successfully disbursed funds to clients who chose to leverage 25 per cent of their pension savings as equity contributions towards residential mortgages.

The Acting Managing Director/Chief Executive Officer, Sa’adu Jiji in a statement, explained that the move

reinforces its commitment to improving the overall financial well-being of its clients.

“PAL Pensions also experienced substantial growth in Assets Under Management (AUM), a testament to its prudent investment strategies and steadfast commitment to delivering value to clients further solidifying its position as a trusted custodian of clients’ financial futures.”

In line with PAL’s commitment to enhancing its services and providing customers with even greater convenience, he added that the organisation recently launched the newly

designed PAL Pensions websites, RSA portal, and PADI (self-service platform) platforms designed to streamline client’s interactions with the company making it easier for them to manage their pension accounts and access valuable information.

“PAL Pensions believes that these additions will further strengthen its partnership and ensure a seamless experience for its cherished clients. We look forward to continuing to prioritise client satisfaction, innovation, and excellence in the ever-changing world of pension management,” he stated.

MARKET INDICATORS MONEY AND CREDIT STATISTICS (MILLION NAIRA) August, 2023

Money Supply (M3)

65,445,154.2

-- CBN Bills Held by Money Holding Sectors

552,553.58

Money Supply (M2)

64,892,600.61

-- Quasi Money

40,870,301.28

-- Narrow Money (M1)

24,022,299.33

---- Currency Outside Banks

2,295,309.10

---- Demand Deposits

21,726,990.23

Net Foreign Assets (NFA)

7,144,158.92

Net Domestic Assets(NDA)

58,300,995.27

-- Net Domestic Credit (NDC)

87,273,966.81

---- Credit to Government (Net)

32,511,333.17

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

54,762,633.63

--Other Assets Net

13,347,376.27

Reserve Money (Base Money

19,429,603.25

--Currency in Circulation

2,660,138.92

--Banks Reserves --Special Intervention Reserves

16,769,464.34 428,519.21

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

August 2023

Inter-Bank Call Rate

3.89

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

18.75

Treasury Bill Rate

5.13

Savings Deposit Rate

5.26

1 Month Deposit Rate

7.31

3 Months Deposit Rate

7.55

6 Months Deposit Rate

8.30

12 Months Deposit Rate

8.13

Prime Lending rate

13.99

Maximum Lending Rate

27.59

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT 29TH SEPTEMBER , 2023

The price of OPEC basket of thirteen crudes stood at $97.48 a barrel on Thursday, compared with $97.08 the previous day, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

T H I S D AY ˾ DAY, JANUARY 26, 2024

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MARKET NEWS

Popoola Pledges Technology Revamp, Listing Rules Review at World Federation of Exchanges Kayode Tokede The Group Managing Director and Chief Executive Officer, Nigerian Exchange Group Plc, Mr. Temi Popoola, yesterday highlighted various plans by the exchange group to revamp its technology infrastructure, attract listings, enhance retail investors participation and foreign capital inflows.

Popoola stated this whilst addressing leaders of exchanges

from across the globe at the working group committee meeting of the World Federation of Exchanges (WFE) hosted by Deutsche Boerse in Germany.

Speaking on attracting retail investors to the market, the GMD/CEO said, “We recognize the stark contrast between the investors currently engaged in the capital market and the vast potential represented by the 65 million banking accounts

P R I C E S MAIN BOARD

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in Nigeria. Our vision is to bridge this divide, onboarding millions into the capital market and fostering financial inclusion on an unprecedented scale.”

“Listings and foreign capital inflows have become a challenge in similar emerging markets and contributions from other CEOs of exchanges including Kenya and Egypt echoed the challenges faced by the Nigerian market. The high interest rate environment

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

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in the United States contributes to the localization of capital in the country, hence starving other riskier markets of the needed capital.

“After navigating a challenging eight years with the previous administration, we now find ourselves under a more pro-market leadership.

This shift positions NGX for renewed growth and resilience in the evolving economic landscape.”

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He explained further that, “Recognizing the importance of government advocacy historically, our strategy involves deeper intentionality to collaboration with government in enhancing listing incentives. A prime example is the prioritization of listed companies in government procurement processes. Also, working with the regulator, we intend to review our listing rules

J A N UA RY DEALS

aligning them with markets such as London to attract a more diverse array of businesses to the Exchange.”

Popoola also spoke on the investments in technology under which he stated that the Group is exploring deepening data revenue generation and engaging market infrastructure stakeholders from the CCPs to the CSDs in meaningful API conversations to further strengthen agility.

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T H I S D AY • FRIDAY, JANUARY 26, 2024

NEWS

CUSTOMS HANDS OVER SEIZED DRUGS TO NDLEA… Comptroller General of Customs, Bashir Adewale Adeniyi (L) and the Chairman/Chief Executive Officer of NDLEA, Brig Gen Mohamed Buba Marwa represented by the Agency's Director of Media and Advocacy, Femi Babafemi along with other officials of the two agencies during the handover of some seized drugs in custody of Nigeria Customs at the Tincan Port Complex, Lagos ... yesterday

Obi: State of Abuja Airport Facilities Appalling Says Tinubu’s ‘private visit’ to France shouldn’t be publicly funded Chuks Okocha in Abuja The presidential candidate of Labour Party (LP) in the 2023 general election, Peter Obi, has lamented the state of Nigeria’s national assets, especially the Nnamdi Azikiwe International

Airport, Abuja.

Obi said he was heartbroken when he visited the Abuja airport on Wednesday, because of the poor state of facilities in one of the gateways into the nation’s capital.

He explained that he watched

in horror as a disabled citizen was being carried along with his wheelchair through the staircase, as the elevator and escalator at the airport had not been functional for about three months.

Obi, who wrote on his

X-handle, wondered why public assets were overlooked by those in leadership positions.

He also frowned on the presidency’s claim that President Bola Tinubu had embarked on a private trip to France, saying there is nothing private for a

SAN: Suit against 27 Defected Lawmakers of Rivers State in Abuja Court not Struck Out Alex Enumah in Abuja A Senior Advocate of Nigeria (SAN), Dr. Olukayode Ajulo, has clarified that the suit of some Rivers State elders seeking the sack of 27 lawmakers of the state House of Assembly, who defected from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC), is still alive and pending at the Federal High Court in Abuja.

Ajulo, stated that contrary to the information in circulation, the case in suit number SUIT NO FHC/ABJ/CS/1718/2023 between Hon. Victor Okon Jumbo and 5 ORS V The President of the Federal Republic of Nigeria and 5 ORS was filed at the Federal High Court Abuja and currently before Justice Joyce Abdumalik and not before Rivers State High Court.

In a press statement issued in Abuja yesterday, the SAN observed that false information are being peddled around as regards the true position and situation of things on the matter before the Court.

According to him, "Some of the various publications circulating in the social media space are riddled with half-truths, others complete fabrication from the feverish, febrile imagination of the makers.

We wish to make it categorically clear that the contents of the said publications are absolutely false.

"To put the record straight, the above captioned suit was filed at the Federal High Court sitting at the Federal Capital Territory (F.C.T.), Abuja and not at the Rivers State High Court, sitting at Port-Harcourt as has been falsely published on various social media platforms.

"The aforesaid suit first came up on Monday the 22nd of January, 2024, before Court 7 of the Federal High Court, sitting at the Federal Capital Territory (F.C.T.), Abuja, presided by Hon.

Justice J. O. Abdulmalik.

"On the said Monday the 22nd of January, 2024, we moved two respective Exparte applications for substituted service on the Defendants and for Interim Injunctions against the Defendants. After hearing our applications and considering same, his Lordship made an Order for the substituted service of the Originating Court processes of the said suit on the Defendants."

Ajulo further disclosed that Justice Abdulmalik in her ruling had ordered all parties in the suit to "maintain status quo ante bellum, pending the hearing and determination of the Motion on Notice in the suit" and fixed February 28, 2024 for hearing.

The senior lawyer stated that the legal implication of the court’s order is that all the parties in the suit should maintain the status/position in the matter as it was before the subsisting conflict arose between the parties in the suit.

"To reiterate, there was absolutely no time that the Federal High Court sitting at the Federal Capital Territory (F.C.T.), Abuja, presided by Hon. Justice J. O. Abdulmalik ever struck out the aforesaid suit. The said suit is still life and is pending before Court 7 of the Federal High Court sitting at the F.C.T., Abuja and same will come up for hearing on February 28, 2024.

"Also, the said Hon. Justice J. O. Abdulmalik did not at any point of her Rulings on the said Plaintiffs’ applications ever decline jurisdiction to hear the Plaintiffs’ applications or the substantive suit and never cited any Judgment or Ruling of Hon. Justice James Omotosho of the Federal High Court, sitting in Abuja as fallaciously stated in some of the aforementioned publications on social media.

"Hence, we urge the general

public to utterly disregard the mendacious news making the rounds on main and social media regarding the captioned matter as the information as stated in this Press Release/ Conference is the true and reliable state of affairs as regards the suit between Hon. Victor Okon Jumbo & 5 Ors. vs. The President of the Federal Republic

of Nigeria & 5 Ors., with Suit No.: FHC/ABJ/CS/1718/2023."

The plaintiffs in the matter, led by a member of the Rivers State House of Assembly representing Bonny State Constituency, Hon. Victor Okon Jumbo, are: Senator Bennett Birabi, Senator Andrew Uchendu, Rear Admiral O.P. Fingesi, Ann Kio Briggs and Emmanuel Deinma.

sitting president.

The former governor of Anambra State wrote, “Just yesterday, I saw a heartwrenching sight of a physically challenged traveller in a wheelchair being carried up the stairs by four men, at the Nnamdi Azikiwe airport, Abuja, because neither the elevator nor the escalator had been functional, for the past three months.

“The situation becomes more disturbing when you imagine that such is happening in our nation’s capital, where our dignitaries and foreign investors travel through constantly. This was the same airport and the same day that our dear president flew out on a private visit “I have been wondering what is private for a sitting president, who is not on vacation, to embark on a publicly funded ‘private’ visit. May I humbly remind the president that he

is now a public national asset.

“Therefore, all his movements now should be public knowledge and matters of public interest.

Even when he needs a private visit, like a holiday, family gathering, etc., he should state so, which is graciously allowed.

“But private visits, like the one he has embarked on now, should be done at his expense and not at public cost. That is part of the cost-cutting measures desperately needed by the nation now.”

Obi also said, “We now require savings of sorts to deal with every little issue that requires attention, like the maintenance of small public assets.

“Otherwise, how do we explain, as a country, that for the past three months both the escalator and elevator at the domestic wing of Nnamdi Azikiwe Airport, Abuja, have remained dysfunctional?”

Clark: Wike Not Ready for Peace in Rivers Hails Fubara, Kefas over S’Court victory Sunday Aborisade in Abuja Elder statesman and leader of the Ijaw Nation, Chief Edwin Clark, has said activities of the Minister of the Federal Capital Territory (FCT), Mr. Nyesom Wike, were clear indications that he was not ready for peace in Rivers State.

Wike, the immediate past governor of the state, has been at loggerheads with his successor, Siminalayi Fubara, for some time now.

Clark, in a statement yesterday, said Wike’s actions since President Bola Tinubu intervened in the face-

off, was "no doubt a clear case of disobedience to Mr. President’s authority."

He said Wike's position on the issue of defection was that defectors must leave the party on which platform the defector got elected.

"We all know his position on defectors to another political party in the past. So, what has changed today?” he asked.

Clark further accused Wike of supporting the factional Speaker of the House of Assembly, Martins Amaewhule, when he and his colleagues, held their first plenary

somewhere in Port Harcourt and passed a motion demanding for a re-presentation of the 2024 appropriation Bill.

The Ijaw leader wondered why the factional speaker should do that when he knew that the bill had already been signed into law by the Governor.

"One would have expected that the speaker in keeping with Mr. President’s peace proclamation will first of all have prior discussion with the governor at the Government House, and not to engage in direct confrontation in the presence of the media.

"Let the truth be told to President Bola Ahmed Tinubu, Nyesom Wike is not ready for any form of peace. Therefore, I call on the President, once again, to sanction Mr. Wike and call him to order to allow the Fubara govern Rivers State peacefully.

Meanwhile, Clark has congratulated Fubara on his victory at the Supreme Court and implored him to extend the olive branch to all opponents.

He also congratulated the Governor of Taraba State, Agbu Kefas, on his victory at the Supreme Court.

Adelami Now Officially Ondo Deputy Gov, Assembly Confirms Fidelis David in Akure Ondo State House of Assembly, yesterday, screened and confirmed Mr. Olayide Owolabi Adelami as the Deputy Governor of Ondo State.

Governor Lucky Aiyedatiwa had Wednesday announced the nomination of Adelami, a former Deputy Clerk to the National Assembly as his deputy.

However, Adelami, who was confirmed at a plenary presided over by the Speaker of the House, Olamide Oladiji was sequel to the submission and consideration of

a report by the house selection committee Chaired by the Speaker, Olamide Oladiji.

Clerk of the assembly, Jaiyeola Benjamin, read the letter sent to the House by Aiyedatiwa for the consideration of the nominees for the vacant position of a deputy governor.

While submitting the report, Deputy Speaker of the assembly, Abayomi Akinruntan recommended the confirmation of the appointment of the nominees whom he affirmed had been properly screened.

Akinruntan said the nominee responded to all questions raised

by the committee in very eloquent and explicit order, noting that he had a clear understanding of the position and possess, the required academic qualifications, physically, mentally and emotionally stable and fit to accomplish the task.

The Majority leader of the House, Oluwole Ogunmolasuyi, moved the motion for the report to be considered and the nominees be confirmed and was seconded

by Felix Afe, representing Akoko North West 2.

Speaker Olamide, who ruled for the confirmation, however, congratulated the deputy governor-

designate, urging him to put in his best and pledged the assembly’s support to the executive for the people to enjoy more democracy dividend.

In his response, Adelami appreciated Aiyedatiwa for nominating him, promising not to betray his emotion and the confidence reposed in him.

He also appreciated the lawmakers for the efforts they put in place during the screening and confirmation, noting that promoting understanding between the two arms of government will be his priority.

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T H I S D AY • FRIDAY, JANUARY 26, 2024

NEWS

POSITIONING ENUGU FOR INVESTMENT...

L-R: Commissioner for Trade and Investment, Enugu State, Adaora Chukwu; President, Skipper Seil Group, Jitender Sachdeva; Governor of Enugu State, Dr. Peter Mbah; Director-General, African Development Bank, Nigeria Country Department, Lamin Barrow; and the Executive Manager, Skipper T&D, Anti Kumar Monga, during a meeting with the governor at the Government House, Enugu...yesterday

Sale of Assets: Ondo Community Asks Court to Jail Shell MD, Three Others over Disobedience of Court Order Alex Enumah in Abuja An oil-producing community in Ondo state has commenced proceedings of committal to prison against four officials of Shell Petroleum Development Company (SPDC), over the recent sale of the company's onshore assets.

Shell had last week announced the sale of its asset worth over $2.4 billion to a consortium of local companies.

The sale however is said to be in violation of the order of Justice T. B. Adegoke of a Federal High Court in Akure, made last September.

Adegoke had specifically restrained Shell from disposing any of its assets in Nigeria, pending the hearing and determination of a suit brought against it by an indigenous community in Ondo State.

The restraining order issued on September 28, was sequel to an exparte application brought by one Prince Afolabi Akinruntan and 1,215 others against SPDC, SPDC Nigeria Ltd, Shell International Company Ltd, Shell International Exploration and Production Ltd, Attorney General of the Federation AGF and Minister of Justice and the Nigerian National Petroleum Company (NNPC).

Adegoke had held that it was necessary to grant the restraining order in order "not to make nugatory the essence of this suit".

However, following the announcement of the onshore assets last week, the community on Wednesday filed the "Form 48" against shell and four of its officials.

The form 48; Notice of Consequence of Disobedience of Court Order was Brought Pursuant to Section 72 Sheriff and Civil Process Act and Order IX Rules 13(1)&(2) Judgment Enforcement Rules.

Those being asked by Justice Adegoke of the Federal High Court, Akure, to be committed to prison include; SPDC's MD, Osagie Okunbor, Country Legal Counsel, Shell Nigeria/Company Secretary, SPDC, Mrs Keibi Atemie, Head of Corporate Litigation, Shell Africa, SPDC, Ikechukwu Ekwume and Finance Director, SPDC, Jan Van Bunnik.

Part of the application read: "Take notice: That unless you obey the direction(s) contained in the Order of the Federal High Court of Nigeria made on September 28, 2023 by the Honourable Justice T.B Adegoke you will be guilty of contempt of court and will be liable to be committed to prison.”

Recall that the plaintiffs had dragged the defendants before the Federal High Court, Akure Ondo State, over alleged oil spillage caused by Shell in their community in Ondo State.

In the suit marked: FHC/AK/ CS/68/2023, the plaintiffs are seeking for the enforcement of their fundamental rights and the remediation of the environmental hazards and degradation caused by the oil spillage of Shell's ruptured pipelines.

The plaintiffs however, pointed out that Shell has indicated intention to dispose all of its assets in Nigeria as well as quit its business operations in the country.

The plaintiffs pointed out that if the court does not intervene through the grant of the exparte application, "the judgment of the court will be rendered nugatory, academic, and unenforceable, if it is favour of the plaintiffs.

While submitting that an order of mareva is apt in this circumstance, they urged the court to exercise its discretionary powers and grant the reliefs sought.

In a short ruling, Justice Adegoke, pointed out that exparte

orders are made in very special circumstances in order not to make nugatory the judgment of a court.

The judge observed that in the extant case before it, the plaintiffs are in court to claim compensation, remediation and rehabilitation of

their environment, farmland, fish ponds, engine boat machineries etc destroyed by the oil spillage, rain acid and pollution since 2011 to 2019 and which still continues by the activities of Shell, hence the need to grant the application.

DHQ: Troops in Fire-fight with Fulani Militia, Vanquish 10 Terrorists in Plateau Clash with insurgents in FCT, kill 12 extremists Recover 18 AK-47 rifles

Kingsley Nwezeh in Abuja The Defence Headquarters (DHQ) said yesterday that troops of Operation Safe Haven engaged Fulani militia in a sustained fire-fight, killing 10 terrorists.

At a media briefing in Abuja, Director, Defence Media Operations (DDMO), Maj.- Gen. Edward Buba, said the confrontation followed intelligence report that a large number of armed Fulani militia were mobilising to attack a community in Bokkos Local Government Council of Plateau State.

"Troops made contact with the violent extremists/fulani militia. Following a fire-fight, troops neutralised 10 insurgents and recovered 10 AK47 rifles, 210 rounds of 7.62mm special ammo, five mobile phones and 29 rounds of PKT ammo", he said.

He said troops arrested

suspected violent extremists and foiled Fulani militia attack on locals in Mangu and Bokkos Local Government Councils of Plateau State.

He said troops conducted raid operation and foiled kidnap incidents in Sanga, Jema’a and Kauru Local Government Councils of Kaduna State as well as Riyom Local Government Area of Plateau State.

"On January 18, 2024, following credible intelligence reports, troops conducted sting operations and arrested five suspected violent extremists/terrorists in Mangu LGA of Plateau State.

"During the operation, troops recovered five AK47 rifles with 123 rounds of 7.62mm Special ammo and two motorcycles", he said.

He stated further that on January 17, 2024, troops responded to information on a large number of armed Fulani

militia mobilising to attack a community in Bokkos LGA of Plateau State.

He affirmed that on 18 and 19 January 2024, troops with hybrid forces in a separate operations raided suspected violent extremists and insurgents hideouts in Sanga and Jama’a LGA of Kaduna State as well as Riyom LGA of Plateau State.

"During the operations, troops arrested nine suspected violent extremists and kidnappers, recovered four vehicles, one tricycle and substance suspected to be cannabis", he said.

Meanwhile, troops of Operation Whirl Punch Between January 19 and 23, 2024, in a separate offensive operations, made contact with violent extremists/insurgents in Kuje and Bwari Area Council of FCT, Akwanga and Nasarawa LGAs of Nasarawa State as well as Tafa LGA of Niger State.

"During the operations, troops

neutralised 12 insurgents and arrested six suspected violent extremists and insurgents.

Additionally, troops recovered 10 AK47 rifles, two locally fabricated guns, four Dane guns, 321 rounds of 7.62mm special, two motorcycles and knives.

"Between 17 and 20 January, 2024, troops in a separate operations, conducted fighting patrols in Bwari and Kuje Area Councils of FCT, Abuja.

"During the operations, troops arrested 10 violent extremists/ insurgents and recovered 3 AK47 rifles, 24 rounds of 7.62mm special, 241 mobile phones, substance suspected to be cannabis and the sum of N7,600.00.

"On 21 January 2024, troops while on stop and search operation intercepted and arrested 10 suspected illegal miners in Kuje Area Council of FCT, Abuja", he said.

AfDB Commits to Partnership with Enugu Gov’t on Investment, Infrastructure As Skipper Seil Group lauds Mbah’s positive steps on energy The African Development Bank (AfDB) has reiterated its commitment to partnering with the Enugu State Government in the areas of investment, infrastructure, and other projects that would attract development and transform the lives of the citizens in the state.

This was even as the President of Skipper Seil Group, a globally renowned engineering, power and infrastructure company, Jitender Sachdeva, lauded Enugu State governor, Dr. Peter Mbah, over the positive steps taken in the energy sector, assuring that the company would partner to assist the state in developing its infrastructure.

Speaking at the Government House, Enugu, on Thursday, during a meeting with the governor at the Government

House, Enugu, the Director-General of AfDB’s Nigeria Country Department, Lamin Barrow, said Nigeria was strategic to the development bank’s programmes.

He said that phase one of some of the programmes, especially in the area of Special Agro-Processing Zone (SAPZ) which was worth about $18 million had been approved.

He explained that the African foremost development and financial bank was in the process of rolling out the second phase, which would integrate the needs of Enugu State Government.

Barrow further said the phase two of the programme would support the implementation of the SAPZ project, which the state had already undertaken, pointing to agro-allied

crops such as cassava, maize, among other strategic staples where the state commands competitive advantage.

“What the SAPZ is doing is to help develop value chains for these crops, adding value to primary crops, help in reducing post-harvest losses, develop strong linkages with stakeholder farmers, training and creating financial support for the farmers’ activities, but but most importantly, driven by anchor private-sector investors”, he stated.

The DG of the AfDB also said the bank would assist the state in de-risking investment flow in its efforts to strengthen and enhance production, and drive agricultural produce beyond food security to export for the state and Nigeria in general.

On his part, Skipper Group President, Jitender Sachdeva, said

his company had already concluded plans with the governor to construct the green special agro-allied industry zone, which also falls within the AfDB’s programme.

He said the infrastructure, which the company was collaborating with AfDB to step up, would facilitate the ease of doing business in the state and ensure self-sustained green electricity for each factory operating in the state.

“We are here for you in terms of infrastructure, power, agro-processing zones, among other projects. With the kind of energy, positivity, simplicity I have seen in you, around you, I can assure you we are going to start immediately,” he concluded.

Reacting, Governor Mbah expressed excitement over the choosing of Enugu State by the AfDB and other

development partners for the second phase of the Special Agro-Processing Zone, saying his administration had already committed huge capital in the sector and would be ready to explore the opportunities AfDB presented to the state.

He assured the AfDB that Enugu had fulfilled all the pre-conditions for the project to take off.

"I want to inform you that Enugu State is ready and we have prepared all the prerequisite documentations, and all the surveys you need to be able to get started with this project.

"We have done the environmental and social impact assessments. We have identified a sizeable land that will host a Special Agro-Processing Zone, putting aside over 1000 hectares very close to the city that would be

used for the Special Agro-Processing Zone. We have also done the feasibility studies”.

While underscoring that the state has a fertile land, almost performing better than other states in the cultivation and production of soya beans, cassava, rice, maize, cashew nuts, pineapple, among other food crops, the governor reiterated the effort of his administration to continue to make the state attractive to investors and tourists.

He explained that the state was full of economic and investment opportunities, calling on investors to see Enugu as their first choice for investment in the country, and promised that the ongoing state of emergency declared on the health sector would guarantee a healthy workforce.

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T H I S D AY • FRIDAY, JANUARY 26, 2024

NEWS

NO GOING BACK ON STYROFOAM BAN AND USAGE IN LAGOS...

L-R; Managing Director, Lagos Waste Management Authority (LAWMA) Dr. Muyiwa Gbadegesin; Hon. Commissioner for The Environment and Water Resources, Mr. Tokunbo Wahab and Permanent Secretary, Office of Environmental Service, Gaji Omobolaji, during a meeting with Manufacturers Association of Nigeria (MAN) and Restaurant and Food Services Proprietor Association of Nigeria(REFSPAN)as a follow up to the recent total ban on the use of styrofoam in Lagos State held at the Ministry of The Environment and Water Resources Conference room, block 16, Secretariat Alausa, Ikeja. ... Wednesday

Ndume on CBN, FAAN Relocation: It’ll Be Unpatriotic Not to Tell Tinubu Truth Onuesoke urges FG to relocate multinational oil firms to N’Delta Sunday Aborisade in Abuja and Sylvester Idowu in Warri Chief Whip of the Senate, Ali Ndume, has replied critics of his recent comments on the planned relocation of the headquarters of the Federal Airport Authority of Nigeria (FAAN) and some departments at the Central Bank of Nigeria from Abuja to Lagos.

This was as a chieftain of the Peoples Democratic Party (PDP) and former Delta State governorship aspirant, Chief Sunny Onuesoke, has called on the federal government to relocate the headquarters of Nigeria National Petroleum Corporation (NNPC) and all multinational oil companies operating in the Niger Delta to the region.

Ndume had in an interview said the decision could have political consequences for President Bola Tinubu if not retracted.

He said his rejection of the planned relocation was borne out his patriotism and the need to tell Tinubu the truth about the whole arrangements.

Kogi West Senator, Sunday Karimi, and a former presidential spokesperson, Dr. Doyin Okupe had cautioned Ndume, saying his comments were capable of causing crisis.

But Ndume, yesterday, said it would be unpatriotic not to tell President Tinubu the truth about the happenings in the country.

Speaking on a live Television programme on Tuesday, Ndume, who is representing Borno South at the Senate, hadsaid Tinubu was being ill-advised by “Lagos boys” in the corridors of power.

“All these Lagos boys who are thinking that Lagos is Nigeria are just misinforming and advising the President wrongly,” Ndume was quoted as saying.

While Okupe and Karimi earlier disassociated themselves from the Borno lawmaker's comment, Okupe later backtracked, stating that Ndume meant well for the country.

Responding to Karimi’s comment, Ndume said he did not speak on behalf of the Northern Senators or the Senate but as a Northerner in support of the majority of Northerners and some Nigerians who were against the action of thre CBN Governor, Olayemi Cardoso, and the Minister of Aviation, Festus Keyamo.

“With all due respect, I did not speak on behalf of the Northern Senators or the Senate but as a Northerner in support of the majority of Northerners and some Nigerians who are against the action of CBN Governor and the Minister of Aviation, “A famous former American President said, patriotism means to stand by the country.’ It does not mean to stand by the president or any other public official, save exactly to the degree in which he himself

stands by the country.

“It is patriotic to support him insofar as he efficiently serves the country. It is unpatriotic not to oppose him to the exact extent that by inefficiency or otherwise he fails in his duty to stand by the country.

“In either event, it is unpatriotic not to tell the truth, whether about the president or anyone else. To announce that there must

be no criticism of the president, or that we are to stand by the president, right or wrong, is not only unpatriotic and servile, but is morally treasonable to the American public.”

He, therefore, claimed that, “What I said is my personal opinion and position.”

But Onuesoke resonated the demand with respect to the recent federal government’s order for the

relocation of the headquarters of CBN and FAAN to Lagos State.

The environmental activist, who made the call yesterday in Asaba, Delta State, said the relocation of the headquarters of the multinational oil companies from Lagos to Niger Delta region was long overdue.

“Most multinational and Nigerian oil and gas companies operating in the Niger Delta

region had relocated their headquarters and operational bases to Lagos, citing security concerns and restiveness in the Niger Delta.

“Presently, all that had changed.

The Niger Delta region is now more secure and peaceful than Lagos and other parts of the country. The Niger Delta people cannot continue to accept this kind of injustice,” hew said.

NDLEA, Customs' Synergy Strong Warning to Drug Cartels, Marwa, Adeniyi Declare Chairman/Chief Executive Officer of the National Drug Law Enforcement Agency (NDLEA), Brig. Gen. Buba Marwa (Rtd) and the Comptroller General of the Nigeria Customs Service (NCS), Bashir Adeniyi have commended the synergy between the two agencies, insisting that the collaboration is a strong warning to drug cartels that they’ll continue to lose their investments in the criminal trade.

The duo spoke at the Tincan Seaport in Lagos yesterday when the Customs CG led his team to hand over illicit drugs seized during a joint examination by NDLEA, Customs and other security agencies of containers the anti-narcotic agency had been tracking based on credible intelligence from international partners.

Marwa, who was represented at the ceremony by the agency’s Director of Media and Advocacy,

Femi Babafemi, in his remarks, said the handing over of seized illicit drugs in custody of the Nigeria Customs Service was a development that speaks volumes about the hard work and diligence of security agencies tasked with securing the territory of our country.”

He noted that the seizure was a testament that, just like the airports, the sea ports are also secured.

He said: “That we are here today doing this is a testament to the cooperation we received from the Nigeria Customs Service. This level of cooperation between NDLEA and Customs, as well as other security agencies and port stakeholders, is a strong signal to drug cartels that our ports and indeed Nigeria, will not be a haven for their criminal business.

“The synergy between Customs and NDLEA would further ensure the closing of other loopholes

that criminal elements may have capitalised on in the past years to smuggle illicit items into our country.”

He expressed appreciation to the leadership, men and officers of the Customs for the collaboration between the Service and NDLEA, not only at Tincan Port but across all areas of responsibilities where the two agencies partner to promote the interest of the country.

Marwa assured that NDLEA, Nigeria Customs and other security organisations remain committed to ensuring that the country’s territorial integrity is protected.

In his remarks, the CG Customs said the collaborative efforts with the NDLEA had proven effective in pooling resources and intelligence to safeguard the nation's borders.

He said: “In recognition of the threats and the collaborative nature of criminal activities, the NCS has

steadfastly prioritised strategic partnerships with stakeholders over the past seven months. This deliberate focus aims to harness the specialised expertise of our partners in a manner that enhances our capability to fulfil our core mandates.

“Just as criminals find strength in collaboration, government agencies must equally appreciate the advantages of working collectively to fulfil their statutory responsibilities. “ It is within this context that the ongoing collaborative efforts between the NCS and the NDLEA have consistently yielded positive results. This collaborative synergy exemplifies the effectiveness of pooling resources and intelligence, reinforcing the commitment of both agencies to safeguarding the nation's borders and protecting its citizens from the threats posed by illegal substances.”

Court Vacates Contempt Order Against Stopping IG from Arresting EFCC Chair Kingsley Nwezeh in Abuja Justice Abubakar Hussaini Musa of the Federal Capital Territory High Court yesterday vacated an earlier order of the court directing the Inspector-General of Police to arrest the Chairman of the Economic and Financial

Crimes Commission (EFCC), Ola Olukoyede, for disobeying the ruling of the court directing operatives of the commission to vacate a property at Number 6, Aso Drive, Abuja.

The judge upheld the submission of the EFCC Counsel, Rotimi Oyedepo (SAN), that Olukoyede “is

an officer of the law and respecter of the rule of law with fervent commitment towards moving the EFCC towards enhanced professionalism and accountable conducts, could not have willfully ignored or disobeyed the order of the court.

Oyedepo further told the court

that, “I am here to assure my Lord that Mr. Ola Olukoyede who is now the Executive Chairman of the EFCC, whose appointment was confirmed by the Senate of Federal Republic of Nigeria on the 18 October, 2023 and being a legal practitioner of many years at the bar may not knowingly disobey

the order of the court”.

He prayed the court to vacate the contempt proceedings against the EFCC’s boss, assuring that all the issues involved between the parties in the suit would be resolved.

Defence counsel, Adeyemi Pitan, did not object to the submissions of Oyedepo.

Responding, Justice Musa stated that “I knew that the EFCC Chairman was not aware of this, that is why I want the chairman to come”.

He, thereafter, vacated the order and purged Olukoyede of the contempt proceedings, a statement

by EFCC said.

FRIDAY JANUARY 26, 2024 ˾ T H I S D AY

37

NEWSXTRA

AVON BABY PHOTO CONTEST WINNER…

L-R: Chief Executive Officer, Avon Healthcare Limited, Adesimbo Bello-Ukiri; parents of the Avon Baby 2023 Photo Contest winner, Mr and Mrs Oluwatosin Ajayi with their baby, Ririoluwa Judith Ajayi, at the prize-giving ceremony which held in Lagos…recently

FG Moves to Secure Natural Resources, as Presidential C’ttee Meets Service Chiefs FolalumiAlaraninAbuja

The federal government has intensified efforts to secure the country’s natural resources as the presidential inter-ministerial committee held an expanded meeting with service chiefs.

The inter-ministerial committee chaired by the Minister of Solid Minerals Development, Dele Alake, met with the Security Chiefs yesterday in Abuja.

President Bola Tinubu had last week at the Federal Executive Council (FEC) established an inter-ministerial committee to draw up a blueprint for securing the country’s natural resources, including solid minerals, forests, and marine economy. The committee held its maiden meeting last Friday.

Giving highlights of the expanded meeting, Alake emphasised that the committee’s meeting with service chiefs that cut across all security

Yusuf Urges FG to Handover NCC Digital Industrial Park to Kano Ahmad Sorondinki in Kano Kano State Governor, Alhaji Abba Kabir Yusuf, has urged the federal government to hand over the NCC Industrial Pack to the state government, as part of the effort to improve Innovation Labs and Digital Fabrication Laboratories (Fablabs) in the state.

Yusuf made the call yesterday while delivering a speech at the closing ceremony of the National Council on Communications, Innovations, and Digital Economy (NCCIDE) meeting hosted by the state government.

He said the park was constructed by the previous administration and was completed 100 percent, but was yet to be launch and put to use.

According to him, “I will also seize this opportunity to make a formal request to the minister to give an order in facilitating the handing over of the NCC digital industrial park that was constructed here in Kano State and abandoned.

“This is with the view to complementing the federal government to achieve digitisation and promotion of the economy in the state.

CPFN Tasks FG on Refurbishment of Health Sector Blessing Ibunge in Port Harcourt

The National President of the Christian Pentecostal Fellowship of Nigeria (CPFN), Youth Wing, Dr. Edward Joseph, has called on the President Bola Tinubu-led federal government to refurbish the health sector in the country, a way to reduce mortality rate and citizens seeking healthcare abroad.

Joseph, who is also the General Overseer of Freedom Chariot Church, also urged the

government to disregard the recent alleged call by a renowned Islamic cleric, Sheikh Gumi, that schools and hospital be built for bandit groups in the country.

Gumi had urged President Tinubu to engage in negotiations with numerous bandit groups responsible for widespread violence across the country.

Gumi, a former military officer, also urged the government to build schools, markets and hospitals for bandits, saying that they need to have future.

agencies and Office of the National Security Adviser (ONSA) was a follow-up on the earlier one to get inputs for developing a workable

Chuks Okocha in Abuja

Ahead of the January 29 screening of the governorship aspirants of the Peoples Democratic Party (PDP) for the Eedo State governorship election, the state Deputy Governor, Philip Shaibu, yesterday submitted his nomination form to the national secretariat of the party.

The Katsina State Caretaker Committee of the Peoples Democratic Party (PDP) has stated that it’s set to mend fence with its members who were aggrieved by the electioneering and the aftermath of the 2023 general election.

As part of the reconciliation moves, the party, which rose from a two-hour strategic meeting at the headquarters of

follow-up meeting because the security agencies are going to give us the framework of execution of our mandate.”

His submission of the form, however, brought to eight the number of the governorship aspirants that would be screened on Monday.

Others that had submitted their nomination forms were Anslem Ojrzuu, Hope Akhabur, Auserinme Ighodalu, Martin’s Uhomoibhi, Omosede Igninidion (female) Umoru Hadizat (female)

and Omoregie Ogbegie Ohana.

Speaking when he submitted his form, Shaibu said he was in the race to save the state from the hands of business men as the election was for the people of the state to deicide and not for businessmen.

He explained that he had been variously intimidated, but not worried because each

time he faced intimidation, it made him stronger as in the case when he contested for the election to become the president of the National Association of Nigeria students (NANS).

Shaibu told his teeming supporters that each time, he faced such intimidation, it simply told him that victory was at hand.

Police Arrest Suspected Kidnapper in Kaduna, Recover over N2m Share of Ransom John Shiklam in Kaduna

The Kaduna State Police Command has arrested a suspected kidnapper and recovered over N2million being part of the money he got from the criminal act.

The spokesperson of the state Police Command, Mansir

Hassan, disclosed this in a statement yesterday in Kaduna.

He said police operatives attached to the Police Divisional Headquarters in Tafa, Kaduna, arrested the suspected kidnapper and recovered his share of the ransom money.

According to the police spokesperson, the suspect

offered a bribe of N1 million to the Divisional Police Officer (DPO) to free himself, but it was rejected.

Hassan said: “On January 19, at about 2200 hours, the Police Divisional Headquarters in Tafa received credible information regarding the presence of a suspicious person in Easyway

Hotel in Tafa town.”

According to the statement, operatives of the police division led by the Divisional Police Officer (DPO) stormed the hotel and arrested Bello Muhammad, 28, from Zamfara State and recovered the sum of N2,350, 000 suspected to be proceeds of kidnapping.

Adeleke : Makinde’s Performances, Huge Motivation for Other South-west Govs Kemi Olaitan in Ibadan

Governor Ademola Adeleke of Osun State yesterday said the remarkable progress in Oyo State, particularly in the areas of infrastructure and human capital, has become a source of inspiration for other South-west

states.

This is just as he described Governor Seyi Makinde as a motivation for the region’s governors, advocating for a closer developmental cooperation amongst South Western states to deepen regional integration and place

the zone on the global map Adeleke spoke in Ibadan while inaugurating the 8.2km Agodi-Gate Old Ife Road-Alakia to Adegbayi, completed by Governor Makinde.

The Osun State governor, who was the special guest of honour on the occasion, noted that the

efforts of Governor Makinde and the pace of development he has set in the state is an encouragement for the region.

He said: “The old Western Region was reputed to be the leading zone in the areas of innovations, infrastructure and good governance.”

N’Delta Group Seeks Increase Funding for Presidential Amnesty Programme Sylvester Idowu inWarri An advocacy group in the Niger Delta, South-South Reawakening Group (SSRG), has appealed to President Bola Ahmed Tinubu to increase the funding of the Presidential Amnesty Programme, to enable it achieve set goals.

The group in a statement issued yesterday and signed by the Convener of SSRG, Joseph Ambadekerimo, said the plea became necessary because of the economic realities on ground, which had eroded the objectives for which the programme was initiated.

It noted that innovation, new

approach, and result oriented strategy that have been brought to the management of the Amnesty programme by General Barry Ndiomu (rtd) called for the increased funding of the Presidential Amnesty Programme to further deepen the gains made so far.

According to SSRG in a statement, “Soliciting for more funding will equally strengthen the hands of the current leadership for purposes of maintaining the peace in the region for businesses to continue to thrive and further bolster the economy of the country for its petrodollar.

‘44.25% Increment of OAUTHC Fees is Anti-poor, Can Truncate Academic Pursuits of Students’

Katsina PDP Vows to Reconcile The Education Rights Campaign has condemned the Aggrieved Members (ERC) increment of fees at the Obafemi the party in the state yesterday, vowed to meet with all the malcontents in PDP to mend the fence with them.

Briefing journalists shortly after the meeting, the Chairman of the committee, Musa Abdulkareem Makarfi, said members of the 15-man committee would work assiduously to reconcile the peeved members to boost membership drive of the PDP in the state.

exhaustively. We have covered all the issues, all the grounds.

Certain decisions have been made, and there is going to be another

Shaibu Submits Guber Form, Says He’s Been Intimidated, But Stronger

Yinka Kolawole inOsogbo

Francis Sardauna in Katsina

strategy to effectively secure Nigeria’s natural resources, in line with the presidential mandate.

“Today, we have deliberated

Awolowo University Teaching Hospital Complex (OAUTHC), College of Nursing Sciences.

The increment, which was announced in December last

year, affects both HND and ND students of the college.

According to the details of the increment, HND fees were increased from N140, 000 to about N840, 000, while that of ND students were increased to N536, 000. In a jointly signed statement issued and made available to THISDAY yesterday

by Isaac Ogunjimi, deputy national coordinator, and Adaramoye Michael Lenin, national mobilisation officer, said these exorbitant fee hikes are anti-poor and capable of truncating the academic pursuits of students from poor and working class backgrounds.

“It is pathetic that this increment was with the full knowledge of

the Federal Ministry of Health and Social Welfare, which supervises the hospital.

“The ERC hereby demands total reversal of the fees, and urges the mass of students and staff unions to begin to organise to fight for improved funding of the college and public education in general,” they said.

PDP Rejects Passage of Amendments Bill on Local Government Council Polls in Kwara

Hammed Shittu in Ilorin

Kwara State chapter of the Peoples Democratic Party (PDP) yesterday rejected the purported passage of the amendments bill on the

local government councils’ polls by the state House of Assembly.

The House of Assembly last Wednesday passed the amendments bill on local government councils’

polls at its plenary and sent the bill for assent to the state Governor, Alhaji AbdulRahman AbdulRazaq.

A statement issued in Ilorin by the PDP and signed by the state Publicity

Secretary of the party, Mr. Olusegun Adewara, stated that the development would hinder the emergence of competent administrators at the local government councils level.

FRIDAY JANUARY 26, 2024 ˾ T H I S D AY

38

NEWSXTRA

Plateau Killings: Enough is Enough, Speaker Declares, to Meet Tinubu Police recover more bodies, parade 17

Seriki Adinoyi in Jos, Adedayo Akinwale and Juliet Akoje in Abuja Speaker of the House of Representatives, Hon. Abbas Tajudeen, has condemned the recurring attacks in Plateau State, which had resulted in the killings of many people, while several others had been rendered homeless, saying enough is enough!

In a statement issued by his

Special Adviser on Media and Publicity, Mr. Musa Abdullahi Krishi, the Speaker, who said it was devastating to read the news about renewed attacks and hostility in communities around Mangu Local Government Area of the state, said he has been scheduled to meet President Bola Tinubu on the situation.

Abbass, who expressed concerns over the unfortunate development, said he would

meet with Tinubu on the matter, while the House would take a strong position upon its resumption from the Christmas and New Year break next Tuesday.

He added that on its resumption on January 30, 2024, the House would kick-start plans to organise a security submit to find lasting solutions to the security challenges in the North and other parts of the country.

Ondo Varsity Workers Protest Unpaid N35,000 Wage Award Fidelis David inAkure Workers’ unions under the umbrella of Joint Action Committee (JAC) in Adekunle Ajasin University Akungba Akoko, Ondo State yesterday protested against the alleged failure of the State government to include them in the implementation of N35,000 palliative wage award approved

to cushion effects of fuel subsidy removal Leadership of the joint committee, which included the Joint Action Committee, comprises Senior Staff Association of Nigerian Universities (SSANU), NonAcademic Staff Union (NASU) and National Association of Academic Technologists (NAAT), said the palliative had not been received by

the staff members of the University since its payment began in Ondo State in November, 2023.

The protesters, who grounded activities at the state institution said the protest was staged to appeal to the state government to grant them the payment as other state workers have been receiving theirs except staffs of the tertiary institutions in Ondo State.

APC Importing Thugs to Disrupt, Rig Ebonyi South Senatorial Re-run, LP Candidate Alleges Benjamin Nworie in Abakaliki The Labour Party (LP) senatorial candidate for the February 3 Ebonyi South senatorial byeelection, Hon Linus Abaa Okorie, yesterday alleged that the All Progressives Congress (APC) has started importing thugs from Niger Delta to disrupt and rig the bye-election in the state.

Okorie stated this at his country home in Onicha when the people of Onicha Local Government Area organised a grand reception for him ahead of the bye-election.

He specifically accused the council Chairman of Onicha LGA, Chibuzor Uzor, for the plan, stressing that any attempt to manipulate the election would be resisted.

“As we speak, the local government Chairman of Onicha, Hon Chidiebere Uzor has imported thugs from the Niger Delta, which he did the last time which led to the death of one person. We have already reported to the security agencies. We want to assure them that if anyone is killed, the people won’t go scot-free because Onicha is a holy land.”

IDE: Heritage Energy, JV Partners Award Scholarships Heritage Energy Operational Services Limited (HEOSL) and its Joint Venture Partners in OML 30 (NNPC Exploration and Production Ltd & Shoreline Natural Resources Ltd) have presented a total of 795 scholarship awards to indigenes drawn from the 112 OML 30 host

communities during this year’s United Nations International Day of Education(IDE).

Speaking during the awards/town hall meeting, HEOSL General Manager, Government Joint Venture and External Relations, HEOSL, Adesola Adebawo, said: “We

CHANGE OF NAME

CHANGE OF NAME

I formerly known and addressed as OGUNYEMI SESAN FELIX now wish to be known and addressed as SESAN FELIX OLUWAYEMI. All former documents remain valid. The general public please take note.

I formerly known and addressed as ALE OLAMIDE ABIMBOLA now wish to be known and addressed as OLAMIDE ABIMBOLA OLUWAYEMI. All former documents remain valid. The general public should please take note.

I formerly known and addressed as ALASIRI FAUSAT AJOKE, now wish to be known and addressed as LAMIDI FAUSAT AJOKE. All former documents remain valid. The general public should please take note.

I formerly known and addressed as OGUNYEMI SESAN FELIX now wish to be known and addressed as SESAN FELIX OLUWAYEMI. All former documents remain valid. The general public please take note.

I, formerly known and addressed as MISS OGUNYEMI ABIMBOLA OLUWASEYI now wish to be known and addressed as MRS OMOTUYOLE ABIMBOLA OLUWASEYI. All former documents remain valid.

The general public should take note.

I formerly known and addressed as UZOKA CELESTINE CHUKA, now wish to be known and addressed as CELESTINE CHUKA UZOKA. All former documents remain valid.

The general public should please take note.

I, formerly known and addressed as MISS GEORGE COMFORT THOMAS now wish to be known and addressed as MRS NWORU COMFORT KALAMAMA. All former documents remain valid. The general public should please take note

I, formerly known and addressed as MISS MUONEKE CALISTA UCHECHUKWU now wish to be known and addressed as MRS CALISTA MATTHEW KARIMO. All former documents remain valid. The general public should please take note.

I, formerly known and addressed as DEBORAH EZIAKU FINE now wish to be known and addressed as DEBORAH EZIAKU AMAMBA. All former documents remain valid. The general public should please take note.

I,formerly known and addressed as TOPMAN EPHRAIM ALABO now wish to be known and addressed as TOPMAN KING DAVID. All former documents remain valid. The general public should please take note

in OML 30 have always been committed to our corporate social responsibilities(CSR), recognising the transformative power of education in shaping the future.”

He added: “OML 30 scholarship programme stands as a testament to our dedication to the well-being and progress of our 112 Host Communities in Delta State.”

Adebawo, who was represented

by Mr. Edesiri Akpomujere, stated that in 2023 alone, OML 30’s sustainability efforts include annual scholarship payment to 2,300 beneficiaries and industrial training opportunities for 130 undergraduates. He noted that since 2017, the scholarships programme has benefitted more than 3,000 deserving students.

Iwosan Lagoon Hospitals Unveils New I, formerly known and addressed as OBA OLUWAKOLADE TITI- Facility in Lagos LAYO now wish to be known and addressed as ADEBIYI OLUWAKOLADE TITILAYO. All former documents remain valid. The general public should take note.

I, formerly known and addressed as NSIDIBE OKON JAMES now wish to be known and addressed as AKANIYENE EFFIOK SMART. All former documents remain valid. The general public should please take note.

Iwosan Lagoon Hospitals, one of the largest private tertiary healthcare providers, has inaugurated a state-of-the-art medical facility in Victoria Island, Lagos State.

The Governor of Lagos State, Babajide Olusola Sanwo-Olu, unveiled the hospital, with a focus on clinical expertise and customer experience, aims to transform the medical landscape, reverse medical tourism, and deliver quality healthcare services to Nigerians.

Positioned as the Center of Excellence for Cardiology, the 27-bed multispecialty facility boasts a team of world-class healthcare experts and advanced technology-driven medical equipment, including a Catheterization Laboratory for early diagnostics and treatment of a wide range of cardiovascular conditions. The facility signifies Iwosan Lagoon’s commitment to providing world class healthcare services to Nigerians.

WORLD OF ISLAM

Edited by: MJO Mustapha Email deji.mustapha@thisdaylive.com

The Significance of Kinship in Islam Yaaseen Masvood/IslamiCity

T

he ways in which a Muslim is legislated to obey the commandments of Allah are by fulfilling his rights towards his Creator (Huqooqullah) and his rights towards fellow creations (Huqooqul Ibaad).

While many might aim to achieve excellence through the former, most people lose out with regard to the latter and Allah’s refuge is sought. Islam places equal importance to both the ways and one cannot hope to get salvation by focusing on one over the other.

Among the ways in which the latter gets executed is by maintaining his/her ties of kinship. This is highlighted through the first verse of Sura An-Nisaa where Allah says: “O Mankind, fear your Lord, Who created you from a single soul, and from it created its mate, and from the pair of them spread countless men and women, far and wide. Fear Allah, in Whose name you demand your rights and be mindful of your ties of kinship, for Allah is always watching you.” (4:1).

The fact that Allah talks about being mindful of the ties of kinship in the very first verse of this long sura speaks volumes about its importance. In addition to this fact, the emphasis on maintaining the ties of kinship can be gauged from the sunnah of reciting this verse while solemnizing the marriages. Unfortunately, the times that we are living in, has witnessed its lowest ebb in this significant characteristic of Islam.

What is disheartening and saddening is that many practicing Muslims cut a sorry figure when it comes to this aspect of Islam. Children not in good terms with their parents, disputes among siblings due to petty issues in property inheritance leading to family feuds, married ones not seeing eye to eye with their in-laws due to trivial issues and neighbours who are close relatives being intolerant with each other due to insignificant matters have all become commonplace and Allah’s protection is sought!

The Quran speaks about the significance of maintaining the ties of kinship in many places in different contexts.

In Sura Al-Baqarah, when Allah makes a mention of what constitutes piety and righteousness, He includes spending one’s wealth on one’s kinsfolk. (2:177). If one’s relatives are more entitled to one’s charity than anyone else, then what about being kind to them and striving to maintain ties of kinship? This is why our Prophet (pbuh) said: “Sadaqa given to the poor is charity while Sadaqa given to the relatives is both Sadaqa and Silah (nurturing relations), for they are the most deserving of you and your kindness and charity.”

In a similar verse in Sura An-Nisa (4:36), where Allah has commanded to single Him out in all acts of worship and be good to one’s parents, He has ordained kind treatment of relatives, male and female. In the same verse, where Allah talks about being mindful of the rights of neighbours, He has explicitly mentioned the rights of neighbours who are close relatives. Elsewhere, in sura Ar-Ra’d, Allah mentions the qualities of people of understanding in these words: “And those who join that which Allah has ordered to be joined.” (13:21).

Imam Ibn Katheer, in his tafseer of the above verse mentions that they are (those who are) good to their relatives and do not sever the bond of kinship and they are also kind to the poor and the needy generous in nature. According to Tafseer Sa’adi, upholding ties of kinship mentioned in this verse includes honouring the relatives in word and deed and fulfilling their duties, whether religious or worldly.

A few verses down the line in the same sura makes a mention of the characteristics of the wretched people of Hell fire and says about them, ‘(…they) sever the bonds that Allah has commanded to be upheld.’(13:25).

These are the people, upon whom will be the curse of Allah and therefore will be farthest from the mercy of Allah.

Similarly in Sura Muhammad, Allah asks a rhetorical question, thus: “Then is it to be expected of you, if you turn away, that you will spread mischief in the land and sever ties of kinship? These are the ones whom Allah has cursed and had made them deaf and blinded their eyes.” (47:22 and 23). In these verses, Allah makes it abundantly clear that severing the ties of kinship results in His curse. So, how can a slave of Allah keep beseeching Allah for His Mercy while not fulfilling His command to establish bonds of relationship between his near and dear ones?

When our Prophet (pbuh) rushed to his wife Khadija (radiyallahu anha) relating to her what he had experienced at the cave of Hira soon after the revelation of the first set of verses of Quran, her words to comfort him bears ample testimony to what was his commitment to maintaining ties of kinship. She said: “I swear by Allah, Allah would never disgrace you.

You keep good relations with your family, help the feeble and destitute, serve your guests generously, and assist those who deserve help.” These are truly noble words from the noblest of ladies about the noblest of men! While she could have chosen to comfort him using the relationship our Prophet (pbuh) had with Allah and his devotion to Him at the cave for months together, she chose to comfort him using his noble

character and high level of morality, highlighting his relationship with fellow human beings.

The way in which Yusuf (alaihissalaam) responded when his brothers related their misery to him after they meet him in Egypt stands out as a guidepost for such people who have been wronged by their siblings, and by extension, other relatives, for whatever reasons and decide to cut off the ties of kinship with them.

He said to them, “No reproach shall be upon you this day and Allah will forgive you.” (12:92). While he had every right to be revengeful for what they did to him by throwing him in a well, he chose to raise the moral standard by repelling evil with good behaviour, as the Quran exhorts us.

Perhaps, this is why our Prophet (pbuh) said: “The (true) maintainer of kinship is not one who merely reciprocates. The (true) maintainer is the one who reconciles ties when they are severed”. (Bukhari). A person who maintains a good relationship with kin only if they do so is not considered a true maintainer of ties, because he is only doing out of reciprocity and hence, he will not gain complete reward for it.

Among the reasons why strain in relationships occur is due to stubbornness or inability to forgive an individual who has wronged him/her. For such individuals, the story of ifk and the reaction of Abu Bakr (radiyallahu anhu) mentioned in Sura Noor stands as a beacon of light. Mistah, a close relative of Abu Bakr (radiyallahu anhu) was being provided financial assistance by him and when Abu Bakr (radiyallahu anhu) learnt that he had indulged in spreading the rumour of character assassination of his beloved daughter and our mother, Ayesha (Radiyallahu anha), he had decided to cut off the financial assistance.

At this point of time, Allah had revealed verses, “Do you not like that Allah forgives you?”. Immediately, Abu Bakr (radiyallahu anhu) said: “By Allah! I definitely want that Allah forgives me.” He not only restored the assistance but also vowed that he would not stop doing so at all. This was the highest edifice of morals which the companions of our Prophet (pbuh) had set for us to emulate.

It is worth noting that in the Arabic language, the womb, from which the ties of kinship get established, is called Rahm and is formed from the same letters from which the word, mercy, is also formed indicating a strong bondage between maintaining ties of relationship and being worthy of getting the ever-needed Mercy of Allah.

Abdullah bin Salam (radiyallahu anhu) narrates, “When the Messenger of Allah (pbuh) arrived in Madina, I went to see him and upon observing his face, I recognized that it was not the face of a liar.

The first thing that he (pbuh) said was: “O people!

Spread salam, provide food, maintain ties of kinship, perform prayer at night when people are asleep, and you will enter Paradise in peace.” From this hadith, it becomes abundantly clear that one needs to pay close attention to people-relations in order to enhance one’s chances of entry to Paradise.

In addition to these spiritual benefits that accrue due to maintaining ties of kinship, it also results in material benefits. On the authority of Abu Hurairah (radiyallahu anhu), our Prophet (pbuh) said: “Whoever loves that he would be granted more sustenance, and that his life span be prolonged, then he should unite his ties of kinship.” (Bukhari). All human beings crave for two aspects mentioned in the above hadith - long life and bountiful provisions. In this hadith, our Prophet (pbuh) has prescribed the success formula to achieve the same by maintaining ties of kinship.

It is from the beauty of Islam that it not only encourages believers to keep up the ties of relationship, considering it as a virtue but also places severe warnings for failure to do so. A strongly worded Hadith goes thus: “One who cuts ties of kinship will not enter paradise.” (Bukhari).

Once, a man came to Messenger of Allah (pbuh) and said, “Direct me to a deed which will admit me to Jannah and take me away from the Fire”. The Messenger of Allah (pbuh) said, “Worship Allah and associate no partner with Him, perform As-Salat, pay Zakat, and maintain the ties of kinship”. (Agreed upon).

Another hadith states: “Do not cut off one another, nor desert one another, nor hate one another, nor envy one another. Be you, O worshippers of Allah, brothers. It is not lawful for the Muslim to shun his brother for more than three(days).” (Tirmidhi). It should be noted that the word ‘brother’ mentioned in this hadith is not the biological brother and refers to the Muslim brotherhood and that being the case, on what grounds can a Muslim even think of cutting ties of kinship with his own siblings, blood relatives and his kith and kin?

From the above ahadith, it becomes clear that in order to enter paradise, merely fulfilling the rights of Allah would not suffice while not placing equal emphasis on the rights of creation will prove detrimental to one’s chances of entry to eternal bliss.

Hence, any lapse on taking good care of the near and dear ones should therefore be avoided.

May Allah allow us to be among those who not only strive to establish the ties of kinship and but also fulfil all the rights towards the Creation as much the rights towards the Creator.

39

THISDAY ˾ FRIDAY, JANUARY 26, 2024

FRIDAYSPORTS

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

0811 181 3083 SMS ONLY

AFCON 2023...AFCON 2023...AFCON 2023...AFCON 2023...AFCON 2023...

Cameroon’s Indomitable Lions Storm Abidjan Ahead Clash with Eagles Injured Aboubakar back in training even as history favours Nigeria to triumph Duro Ikhazuagbe Cameroon’s Indomitable Lions who prosecuted their 34th Africa Cup of Nations Group C matches in Yamoussoukro have arrived in Abidjan ahead of their Round of 16 winner-takes-all clash with the Super Eagles on Saturday.

Their Captain, Vincent Aboubakar, who suffered a thigh injury earlier this month and was even feared to miss the AFCON, has returned to training and is available for Coach Rigobert Song to select for Saturday’s epic clash with Nigeria.

The experienced Besiktas striker emerged top scorer with eight goals when he led the Lions to their fifth

AFCON triumph in 2017.

Despite Super Eagles not taking all their chances in the three matches they played in the group phase, scoring just one goal and earning another through an own-goal, history favours Nigeria to go all the way to the quarter finals at the expense of their Cameroonian rivals.

In effect, Nigeria and Cameroon have clashed in 17 competitive matches since their first of such matches in the Osagyefo Kwame Nkrumah Cup on 8th December 1962, which Nigeria won 3-1.

Of those 17 matches, Cameroon have won only 4 – three of these in the Final matches of the Africa Cup of Nations in 1984, 1988 and 2000.

Sports Minister Charges Super Eagles to Beat Cameroon Tomorrow

The Minister of Sports Development, Senator John Owan Enoh, has urged the Super Eagles of Nigeria to face the Africa Cup of Nations Round of 16 clash with the Indomitable Lions of Cameroon as serious battle that must be won.

Speaking via Zoom with the team in Abidjan, Côte d’Ivoire yesterday, the minister stated emphatically that the President Bola Ahmed Tinubu’s commitment to the national team should be rewarded with victory at the tournament.

In a statement issued by the Special Adviser (Media) to the Sports Minister, Diana-Mary Tiku Nsan, Senator Enoh reiterated the need for Super Eagles to fire on all cylinders to ensure their progress into the next round.

"I went to the Villa for something else, and the President (Tinubu) said to me that we managed to qualify.

I told His Excellency that is how we will keep going until we win the tournament. The President then asked to tell you all that now that we have passed the group stage, he (Tinubu) is banking on you all to impress him and the country even more," the Minister told the Super Eagles players and officials via Zoom.

"This actually means the President is watching the games. He is urging you to go all the way from the Round of 16. We have seen countries finishing the group stages by the whiskers, and still going on to play in the final, like Egypt did at the last AFCON in Cameroon."

Senator Enoh assured the team that Nigerians are solidly backing them to replicate the success of 2013.

"Every Nigerian is rooting for you and we believe that we can do it again. Please, let's play as a team, follow the instructions of the technical crew, and keep our eyes on the ball."

He further urged the team to shun distractions from social media, but instead use this opportunity to write their names in gold.

"Imagine winning our fourth Cup of Nations and going down in history as the team that gave the country million reasons to smile. Please do it for Nigeria, do it for our people.

Let's go to battle in our remaining games," he urged the team.

Captain of the team, Ahmed Musa, appreciated the Sports Minister for bringing words of encouragement to the team. He assured him of the team's readiness to put everything on the line to make the country proud.

The only other time Cameroon have beaten Nigeria in a competitive match was on 27th August 1989, when Francois Omam Biyick scored the only goal in Yaounde that eliminated

Nigeria from the race to the 1990 FIFA World Cup finals in Italy.

Nigeria have won nine of the other 13 matches, including a 2-1 defeat of Cameroon in the bronze

ROUND OF 16 Nigeria Angola E’Guinea Egypt C’Verde Senegal Mali Morocco

v. v. v. v. v. v. v. v.

(FIXTURES) Cameroon Namibia Guinea DR Congo Mauritania Cote d’Ivoire B’Faso S’Africa

(Sat. 27/1) (Sat. 27/1) (Sun. 28/1) (Sun. 28/1) (Mon. 29/1) (Mon. 29/1) (Tues. 30/1) (Tues 30/1)

medal-match of the 1992 AFCON; a 2-0 triumph in a 1990 FIFA World Cup qualifier in Ibadan; a 3-2 win in Yaounde in a 1970 World Cup qualifier; a 2-1 win in Monastir in a 2004 AFCON quarter-final; a 4-0 win in Uyo in a 2018 FIFA World Cup qualifier and; a 3-2 win in Alexandria in a 2019 AFCON Round of 16 clash.

More than the above, the Super Eagles presently boast the African Player of the Year in Victor Osimhen, and the Super Eagles have more familiarity with the Stade Félix Houphouët-Boigny, where they pipped Guinea Bissau 1-0 on Mondayto make sure of their place in this competition’s Round of 16.

Nigeria have reached the Round of 16 after scooping seven points,

Aboubakar unbeaten in their three matches; Cameroon were battered 3-1 by Cup holders Senegal and fought hard to overcome The Gambia in added time to make sure of a place in the knock-out rounds tomorrow.

The clash and all the remaining matches of the AFCON 2023 in Côte d’Ivoire will be aired live and in HD on Sports Premium, Sports Life and Beta Sports channels on StarTimes, as well as StarTimes-ON mobile app.

Australian Open: Djokovic Faces Sinner Test for Final Berth

Super Eagles in training yesterday ahead of the Round of 16 clash with Cameroon's Indomitable Lions on Saturday

Novak Djokovic faces the sternest test of his Australian Open title defence when he meets Italy's Jannik Sinner in the semi-finals today.

The world number one, chasing a record 25th Grand Slam title and 11th triumph in Melbourne, has not lost a match at the tournament in more than six years.

But Sinner has won two of the pair's past three meetings, beating the Serb twice in 12 days in November.

In the other semi-final, Daniil Medvedev takes on Alexander Zverev.

With his quarter-final victory over Taylor Fritz, Djokovic extended his remarkable Australian Open winning streak to 33 matches, equalling Monica Seles' tournament record set in the 1990s.

It left the 36-year-old on track to achieve more history at his favorite Slam, where on 10 previous occasions he has never failed to win the title after reaching this stage.

Razzl Honours AFCON 2023 Pledges to Fans, Dealers and Media Duro Ikhazuagbe

In fulfillment of the promise it made to its distributors, Razzl, the exclusive Official Soft Drink of the 2023 Africa Cup of Nations (AFCON), Ultimum Limited, sponsored 15 of its dealers, three free stylers and a sports journalist to the ongoing tournament in Abidjan, Côte d’Ivoire.

The delegation which departed the Murtala Muhammad International Airport in Lagos on the night of Friday, January 12, 2024 landed in Abidjan after the 80-minute flight in time to be amongst the fans that witnessed the fabulously, enchanting opening ceremony of the 34th Africa Cup of Nations inside the brand new Stade Olympic Alassane Ouattara in Ebimpe area of the commercial capital city of the Ivorians.

After watching host country Côte d’Ivoire start their campaign in flying colours against Guinea Bissau in the opening match, the Razzl delegation teamed up with supporters of the Super Eagles from Nigeria and those resident in Abidjan

to drum support for Nigeria against Equatorial Guinea the next day.

Cladded in Razzl branded t-shirts on jeans pants, the 13 men and two ladies enjoyed every moment of Eagles’ opening game with dancing and singing of popular Nigerian songs, accompanied with drumming and trumpeting.

Although most of them were not too happy with the 1-1 draw result against Equatorial Guinea, they however expressed the hope that Nigeria would make it out of the Group A that also had host Côte d’Ivoire and Guinea-Bissau, into the knockout round.

Mr. Austin Ufomba, the Chief Executive Officer of Ultimum Limited, the company producing Razzl, who at half time joined the delegation for refreshments and photo shoots, later described Côte d’Ivoire’s opening ceremony of the tournament as world-class.

The Ultimum CEO told the dealers that Razzl offered to be the Official Soft Drink partner of the AFCON 2023 because what the tournament represent resonates with that of the

drink. “Razzl resonates with this point of celebrating, about inspiring one Africa, about inspiring one continent and football. This is all that Razzl is all about.”

Ufomba further stressed that “We as soft drink gives all that go with celebration. It is our role to be an

African brand, the big African soft drink. This is why also we undertake the role of partnering this big African platform to be the best in the continent. We are just six months in the market wether in Cameroon, Nigeria or Côte d’Ivoire. We have conquered the key things whether

Managing Director and CEO of Ultimum Limited, Austin Ufomba (centre) with other Razzl staff and dealers during their sponsored trip to the AFCON 2023 in Abidjan, Cote d'Ivoire... recently

it is Cola, Orange, Grenadine, Lemon or Pamplemousse, we have conquered the soda market.”

The delegation was not limited to stadium activities alone, they were taken on sight-seeing of Abidjan, its popular places like hotels, restaurants and beaches. Most of the dealers and fans on the trip could not resist taking pictures at the Chez Rodrique resort that takes 25 minutes boat cruise off the Abidjan Port. The food and drinks there were top notch.

Speaking about their experiences in Abidjan, one of the top Razzl dealers based in Seme, Badagry, Mr Omane Moses Ogunbameru described the trip as “unexpected vacation treat for me. When Ultimum Limited promised to take some of us to AFCON 2023, I thought it was mere promise that may not happen. I was shocked when I was told to join the delegation at Ibis Hotel on Airport Road for the trip the next day. I really want to commend Razzl for this promise kept. I have really enjoyed my stay in Abidjan,” observed the Razzl top

dealer.

Similarly, Mrs Oluwatosin O. Ojuri was full of gratitude to Razzl for the experience at AFCON 2023. “This is really nice. Razzl has proved to be very reliable product. In barely six months operations in Nigeria, that Razzl has chosen to serenade us their dealers and others with sponsored trips to AFCON 2023 is really great. More grace to your firm,” stressed the owner of TeeOne Venture in Mushin, Lagos.

One of the dealers from Kaduna, Mal. Muhammadu Dan Almajiri, was also very happy with the trip to AFCON in Abidjan. “Razzl paid for my trip to and from Kaduna for the journey to Côte d’Ivoire. I am very happy with Razzl. I love football and would ordinarily not have time to come to Abidjan but Razzl made it possible.”

The dealers selected from across the country, reflected the wide distribution network of the soft drink company that made a triumphant entry into the Nigerian fizzle drinks market and has got a chunk share of it.

Friday, January 26, 2024

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African Union to Nigeria, Others “The AU declared its Decade of People of African Decent from 2021 to 2031 and the goal is to engage the member States with the global diaspora. We are hoping that the Nigerian government will declare this year as a Year of Return which will be a great opportunity for our government and the citizens to benefit from the relationship for foreign direct investments at different levels” –Secretary General, African Union Sixth Region Global (AU6RG), Macaulay Kalu, sensitising Nigeria on the benefits of diasporan relationships..

KINGSLEYMOGHALU GUEST COLUMNIST

Foreign Investment is Not A Magic Wand

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o one can – or should – be surprised by the remarkable decline of foreign capital investment in Nigeria in Nigeria’s economy in recent months and years.

The divestment of about N300 billion worth of investment by Procter & Gamble, GlaxoSmithKline, PZ, Unilever and others is simply logical from the standpoint of the business operators. But, as someone who advises some of the world’s largest institutional investors in emerging markets for a living, I believe this phenomenon calls for a more nuanced understanding of the role of foreign investment in economic growth and transformation if such investments are to be truly helpful to our economic aspirations. Outside of a role as part of a grand economic strategy, foreign investment may not serve the purpose of real economic transformation – which is a different thing from growth – whether it rises again or continues to fall. The GSM revolution in the early 2000s was a notable exception and game-changer.

Foreign investment is not just a quest for profits for investors, which is first and foremost what it seeks. It also is a barometer of external market confidence in how a country which has investment potential is managed. We must understand that “the economy” is not some stand-alone item we can separate from every other aspect of how we manage our affairs as a people and as a country. Issues of security, corruption, the courts and the rule of law, who we appoint to certain sensitive positions, all matter. So do how our public institutions are run – their strength, independence, and their effectiveness in achieving their mandates. It is the sum total of these things, together with real, knowledge-based economic management and purposeful political leadership, that determine both investor perception and how the economy performs.

Foreign direct investment (FDI) – “bricks and mortar” or equity investments in business enterprises in one country with capital from another – can create jobs. But this is more the case in some sectors such as agriculture and manufacturing, than in others such as the purely extractive plays in natural resources that have historically formed the bulk of FDI in African countries. Foreign portfolio investment (FPI) – passive investments in financial asset classes such as bonds and equities in the stock market – can help maintain or improve foreign exchange supply for a country such as Nigeria with an undeveloped value-added export economy and a dependence on a natural resource for foreign exchange inflows. This has created a problem for the value of the Naira and is a major reason foreign multinationals are exiting.

Countries with serious economic management have varying attitudes to foreign investment, depending on their overall economic development and transformation strategy. India is a rising economic power, but

Tinubu

it is highly suspicious of foreign investment and is less welcoming of it. India is more interested in outward FDI in which its companies invest abroad, than in inward foreign investment in which it is the host of FDI. China takes a similar approach of care in receiving FDI, but has generally been far more open to it than India.

In Nigeria, our political leaders have spent billions on foreign travel chasing increasingly elusive foreign investors. More work and valuable time at home creating the conditions that will attract such investors would have been a more productive investment. But the frequently misplaced efforts have been stymied by our macroeconomic distress, insecurity, and corruption. Weak physical infrastructure, capricious legal systems, absence of skilled manpower (made even worse by the seemingly endless “japa” wave of emigration), policy inconsistency (investors seek predictability), are a major challenge. The absence of adequate electricity is a foundational disincentive. Rising poverty rates have also dulled the previous attraction of our 200 million population, as the middle class is under threat of extinction and people have less disposable incomes.

Beyond our present problems, and returning to the standpoint of economic strategy which ought to guide our future outlook, lies the question: How much does FDI/FPI really matter? Does FDI cause economic growth and development? Can investment inflows from abroad play a fundamental role in economic transformation? The answer is: “It depends”. There is a widely held belief that FDI is essential for development. It certainly can play an important role, but only if some conditions are met. FDI facilitated the economic transformation of China and Singapore. But these two countries did not blithely assume

that FDI would work a miracle for them, the way we tend to in Nigeria. They approached incoming FDI from the standpoint of strategy.

They kept a firm grip on the evolution of their economies and calibrated their FDI strategies to shifts in their domestic conditions such as cheapness of labor and the availability of skilled labor.

But there is evidence that FDI does not automatically trigger productivity. It can complement, but not substitute, LOCAL factors that are essential for development. We need to understand three important things about foreign investment. The first is that the real importance of foreign investment depends on the receiving country’s prior level of development.

The economic growth impact of FDI is more in high-income developing countries than in low-income ones. In the latter, investments in secondary school education would matter more than FDI. Second, well-performing economies attract more investment than weak economies, which often experience capital flight.. Growth therefore drives FDI, rather than FDI driving growth. Third, the assumed technology-transfer benefits of foreign investment only happen when the investment is made in countries in which research and development (R & D) is a practical priority. We cannot honestly argue that this is the case in Nigeria. But it is in South Africa. In China, investment in R & D increased by 20% annually between 1999 and 2011, to more than $100 billion.

Foreign direct investment can concretely help lift a country’s economy if it is targeted at the real economy. But two most important factors must be present. These are (a) the presence of a skilled labor force and (b) infrastructure, in particular electric power, efficient seaports, and rail infrastructure. Nigeria is clearly deficient in the former, which brings back the conundrum of an education system that does not position the country for real productivity. A focus on the latter without the former cannot be transformational because there isn’t the required level of human capital to take advantage of the infrastructure projects for real wealth creation. This has been a fundamental error of economic thinking in Nigeria. The first and most fundamental condition of economic transformation is human capital. HCI (Human Capital Index) measures the contributions of health and education to worker productivity.

Nigeria has one of the lowest human capital indexes in the world, ranked at 164 out of 169 countries by the World Bank in 2020. Singapore ranked at number one. Borrowing to build roads and rail in a country with nearly 20 million school-age children out of school is to put the cart before the horse. China’s first massive investments in the 1950s, 60s and 70s were in building skilled human capital.

In order words, Singapore and China built the essential foundation before FDI could be of any real help.

Seen from this perspective, we need to return to the drawing board. Rather than a misplaced belief in the transformative power of FDI on its own, we should focus predominantly on two things – our own local

investments, combined with types of FDI, that can help address our problems of weak human capital (e.g. technical/vocational, technological, and health-services education, and building adequate energy infrastructure. This is why you will see companies like Boeing in Egypt, but not in Nigeria.

We must have a real national strategy for FDI, as well as sub-national strategies that key into national priorities in a well coordinated manner. One of the most important priorities we must pursue is the diversification of Nigeria’s seaports. Nigeria’s Southeast region, which is a major trading and industrial hub, needs at least one major seaport. This will massively boost Nigeria’s economy. We need to align FDI with a transformational paradigm shift towards competitive advantage - the ability to source raw materials from anywhere, manufacture value-added products for domestic and export markets at competitive costs, as well as information and communication technologies and a diversification from extractive industries. Investors must be offered strong protections, and we must prioritize governance and institutions. I know from personal experience that investor confidence in the independence and strength of the Central Bank of Nigeria between 2009 and mid-2014 drove high levels of FDI and FPI towards NIgeria at the time.

Finally, we must adopt a national interest stance in engaging with FDI. Nigerian leaders often pursue foreign investment as if investors are doing us a favor. This is a sure recipe for a weak negotiating hand and a failure to identify, and protect, our own national interest. Capital seeks to expand and grow.

Providing investors the opportunity to pursue that fundamental interest must be on the condition that it advances another – the national interest of the FDI host country.

Local populations must benefit from job creation, rather than investments serving the rent-seeking interests of political cabals.

And investment, domestic or foreign, must be environmentally sustainable. Just ask the impoverished people in Niger Delta’s toxic wastelands of oil spills how much they have benefitted from the “foreign investment” in the region by the oil majors.

In this context, the extraction of solid minerals in Nigeria is the next frontier. The Federal Government’s new policy stance that investments in solid mineral extraction must have -value-addition components is a step in the right direction. But we must first see that happen in real life in a country in which its security apparatus appears unable to stop illegal mining of minerals in various places. To that policy should also be added a requirement for investors to establish technical training institutes for local youth who should eventually be employed in such industries. *Prof. Moghalu, a former deputy governor of the Central Bank of Nigeria, is the CEO of the consulting firm Sogato Strategies LLC and Chairman of the Africa Private Sector Summit.

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