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Ways and Means: IMF Urges CBN to Stop Full Financing of FG's Fiscal Deficits Seeks closure on securitisation of N22.7tn overdrafts Ndubuisi Francis in Abuja The International Monetary Fund

(IMF) has urged the Central Bank of Nigeria (CBN) to go beyond recent increases in the policy rate

to implement additional actions, including fully sterilising the apex bank's financing of fiscal deficits

under its Ways and Means window as well as phasing out other credit intervention programmes.

The multilateral lender also called on the Nigerian authorities to expedite action in finalising the

moves to securitise the N22.7 trillion Continued on page 56

Kyari: Fuel Smuggling Won’t Stop Until Nigeria Deals with Arbitrage... Page 5 Thursday 9 February, 2023 Vol 28. No 10165. Price: N250

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MC Oluomo: Atiku Calls on INEC to Remove Lagos REC for Partisanship... Page 53

INEC Appeals Osun Gubernatorial Election Tribunal Judgement PDP hails electoral body, says verdict tended to undermine BVAS It's improper to denigrate judiciary, APC warns Yinka Kolawole in Osogbo The Independent National Electoral Commission has appealed against the judgement of Justice T. A. Kume-

led Election Petition Tribunal in Osun State on 44 grounds.

To that extent, the Osun State chapter of the Peoples Democratic Party (PDP) has commended INEC

for initiating processes to appeal a judgement that frontally attacked the importance of the BVAS machines in the election.

But the state chapter of the All

Progressives Congress (APC), has also carpeted the PDP over its commendation of the INEC for initiating processes to appeal the judgement, saying the judiciary

should not be dragged in the mud.

INEC filed the petition yesterday at the Court of Appeal in Akure, through its lawyer, Paul Ananaba, a Senior Advocate of Nigeria.

The electoral body, according to a "Notice of Appeal" made available to THISDAY in Osogbo, sought an Continued on page 56

AGF: FG Studying Supreme Court Ruling Halting Enforcement of Cash Swap Deadline To take necessary steps before Feb. 15 Again, CBN governor meets Buhari at villa Okey Wali, Paul Usoro, Mike Ozekhome, Ahmed Raji, Konyinsola Ajayi, others, react, CSOs fault verdict Tinubu, Wike hail ruling PDP alleges fresh moves to use APC lawmakers to disrupt elections Labour Party urges Nigerians to resist plot to undermine polls Deji Elumoye, Emmanuel Addeh, Alex Enumah, Ndubuisi Francis, Adedayo Akinwale, Emameh Gabriel in Abuja, Wale Igbintade in Lagos and Blessing Ibunge in Port Harcourt The federal government, yesterday, said it was studying Wednesday’s ruling by the Supreme Court that halted temporarily the move by the federal government and Central Bank of Nigeria (CBN) to phase out the old N200, N500 and N1, 000 notes from February 10.

In a response to enquiries from THISDAY, Dr. Jibrin Umar Gwandu, who is Special Adviser to the Attorney General of the Federation (AGF) and Minister of Justice, Mr. Abubakar Malami, SAN, stated, “The federal government is studying the ruling and will take necessary steps within the context of the rule of law before the 15th day of February, 2023, when Continued on page 12

OFFICIAL LAUNCH OF MONEYMASTER PAYMENT SERVICE BANK...

L-R: MoneyMaster PSB Head of Products & Marketing, Esaie Diei; Babaoloja of Ikeja Computer Village, Niyi Olasoji; MoneyMaster PSB Managing Director, Demola Elutilo; Iyaoloja of Ikeja Computer Village, Abisola Azeez, and Nollywood actor, Victor Osuagwu, at the official launch of MoneyMaster Payment Service Bank and its flagship product, ‘Gkala’, in Lagos... yesterday

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Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 0809 7777 322, 0807 401 0580

NEWS

AT THE COUNCIL CHAMBERS...

L-R: Chief of Staff to the President, Prof. Ibrahim Gambari; SGF, Mr. Boss Mustapha, and Vice President, Prof. Yemi Osinbajo, at the Federal Executive Council meeting at the Council Chambers, State PHOTO: SUNDAY AGHAEZE. House, Abuja…yesterday

Kyari: Fuel Smuggling Won’t Stop Until Nigeria Deals with Arbitrage Says petrol price per litre would be N300 without subsidy Apologises for shortages, expects supply to normalise in one week Emmanuel Addeh in Abuja Group Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mallam Mele Kyari, on Tuesday maintained that the massive smuggling of petrol outside Nigeria’s shores would not stop until the government dealt with the current arbitrage situation.

Arbitrage is the practice of taking advantage of a difference in prices in two or more markets, the profit being the difference between the market prices at which the product is sold.

Despite Nigeria’s efforts to curb the illegal trading of its subsidised petrol in some African countries, the menace has increased in recent times, meaning that the country basically pays for petrol subsidy for its neighbours.

Although the country has an idea of the volume of fuel evacuated from the depots daily, which has been estimated to be about 64 million litres, it cannot say for sure the actual quantity consumed by its citizens since a substantial amount is taken illegally to locations outside the country.

Speaking on Channels Television last night, Kyari stated that another contributory factor to the difference in petrol price between Nigeria and its neighbours was that those countries could not afford to import fuel from Europe the way Nigeria did. He said they were, therefore, desperate for products from Nigeria.

Kyari said the pump price of petrol would be N300, if the government were to remove subsidy today, stating that the NNPC pays about N170 per litre on the fuel consumed by Nigerians.

Ironically, THISDAY recalls that in the last few weeks many Nigerians have bought the product for as much as N600 per litre, which calls into question the continued subsidy that essentially creates an avenue for marketers to profiteer.

Kyari stated, “I've made it very clear that it is practically impossible (to stop smuggling) in the arbitrage environment, and also in a situation where your neighbours are helpless, for you to say that there'll be no cross-border movement of petroleum

products.

“It is simply impossible to stop this until you are able to resolve this arbitrage issue.”

He pointed out that Nigeria was dealing with a distribution issue, stressing that NNPC has enough stock in-country.

“So definitely, what you're dealing with is a logistical challenge, rather than anything else,” Kyari said. “Once you are able to put more products into the market, deliver more than what the country needs, that is essentially what we have to do so that we can achieve that optimum level,” he argued.

The NNPC chief executive revealed that in Abuja, for instance, whereas under normal circumstances, the city got around 120 trucks of petrol daily, that figure had now climbed to 150 trucks in the last one week.

He added, “So we know that the solution is excess supply. Once we are able to do excess supply across the country, across locations, you're going to resolve this issue and that is exactly what we are doing now. We are ramping up evacuation today in many places.”

The NNPC helmsman said the daily evacuation was now 70 million litres per day nationwide. He assured that in the next one week, the petrol queues would reduce substantially.

Kyari stated that the ultimate solution was to ensure that the pipelines worked. He said it was the reason NNPC recently selected some companies to operate the facilities on a Build, Operate and Transfer (BOT) basis.

He said regarding the long petrol queues, “I believe very strongly that within the next one week it will clear.

I'm not saying that you're going to have zero queues. We know we can't guarantee that because a number of things are out of our control.

“And, of course, the market forces will determine some of these issues.

But I believe that we are going to see substantial and relative ease compared to today in the next one week.”

The NNPC head said the national oil company’s remittances to the federation account were withdrawn because they were used to offset

mounting subsidy costs, instead of waiting for the finance ministry to issue cheques every month.

He stated, “We have fiscal obligations because whatever you do, and ultimately whatever money NNPC makes is from the fiscal obligation, taxes, royalties and margin, all three as of today, because

we have not diluted the ownership of this company, all belong to the state today.

“So the only way you can do this is to hold back so that we can use that to buy the product and come and sell it to the market.”

While apologising to Nigerians for the hardship caused by the fuel

scarcity, Kyari described the situation as unfortunate, and insisted it was not meant to punish the citizens.

“First of all, I apologise on behalf of all of us who are stakeholders in the oil and gas industry,” he said.

“But I will say this is unfortunate.

It's a glitch. We are responding to this glitch. We'll resolve this and

bring succour and relief to Nigeria and there’s no doubt about it,” he stressed.

According to Kyari, when the Dangote refinery and other facilities begin operation, the source of supply will be closer to the country, and many of the current challenges would disappear.

FG Blames Profiteers for Hike in Fuel Price Directs NMDPRA to sanction erring filling stations Approves N117.721bn for Oloibiri Oil Museum, maintenance of Kano airport Upbeat Nigeria Air will commence operation soon

Deji Elumoye in Abuja The federal government yesterday formally reacted to the increase in the price of petroleum products across the country and heaped the blame on the rush by petroleum marketers to make illicit profits from the hardship of Nigerians.

The Minister of State for Petroleum Resources, Timipre Sylva, who disclosed this to newsmen after the weekly Federal Executive Council (FEC) meeting, presided over by President Muhammadu Buhari, at the State House, Abuja, also lamented the hardship the situation had forced on the populace.

There had been reports from different parts of the country indicating that most fuel stations now sell above the approved pump price of N195, but rather selling at prices ranging between N200 and N450, while many other stations are reportedly hoarding the product.

Reacting to the issue, the Minister directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to go after marketers profiteering with the current situation and sanction them.

According to him, the government was not just folding its arms while Nigerians suffer, assuring that all stakeholders in the downstream sector were working to ensure the

current crisis is brought under control.

He said: “We have reports of profiteering by marketers, and I've directed NMDPRA to sanction anybody who profiteers on this kind of situation. I mean, we cannot stand by and watch our citizens being exploited by marketers.

“But of course, I've given that directive and I don't know if it has not taken effect. I don't know the details of how far that directive has been carried out. But I'm going to still further give that directive, if that is still the situation, but definitely we are not paying a blind eye at all.”

Sylva, while explaining that the Ministry of Petroleum Resources was not in control of all the factors that had contributed to the fuel scarcity crisis assured Nigerians that all steps were being taken to end the hardship.

“This is quite unfortunate; we are not happy at all about what is going on. Every hand is on the deck. As I said earlier, the Ministry of Petroleum is not in control of all the factors that lead to scarcity in the sense that there are Forex issues as well and other issues.

“But at the moment today, there is supply, but unfortunately, we are experiencing some bottlenecks with the distribution and movement of the product to various destinations for now.

“I want to assure you that

everything is being done; the NNPC Limited, NMDPRA, the marketers, everybody's hand is on deck to ensure that this problem is resolved and to also inform you today we had a briefing from INEC and INEC has also engaged NNPC and NNPC has assured INEC that petroleum products supply to INEC will not be a problem and so that will not likely affect the election at all.”

Yesterday's FEC meeting also approved the sum of N117,721,266,733 for contracts in the Petroleum Resources and Aviation ministries.

Sylva said Council approved the sum of N117 billion for the construction of the Oloibiri Oil Museum and Research Centre in Bayelsa State.

According to him, the project, which has been on the drawing board since the early 1980s, from the era of President Shehu Shagari, would be one of the Muhammadu Buhari administration’s legacies.

“Council has approved a contract for the construction of the Oloibiri Oil Museum and Research Center to Messrs Julius Berger PLC, at the sum of N117 billion, with a completion timeframe of 30 months. This project has been on the drawing board for so long.

“The first time foundation stone was laid for this project was in the early 80s by President Shehu

Shagari. So, this actually is a major milestone and it is expected to be a major legacy of Mr. President in the Niger Delta,” he said.

On his part, Minister of Aviation, Senator Hadi Sirika, disclosed that Council approved the sum of N721,266,733.64 for the maintenance and technical support at Malam Aminu Kano International Airport, Kano.

According to him: “Today in Council, Aviation had one memo and this memorandum is a contract that was awarded to CCECC and it is for the airport maintenance and technical support at Malam Aminu Kano International Airport, Kano and… for a period of 12 months and the sum of the contract is N721,266,733.64 and the memorandum was approved”.

When asked when the national carrier, Nigeria Air, will commence flight operations, the Minister explained that the federal government was already done with the initial processes and that it is just a matter of sealing the last move in obtaining the Air Operator Certificates (AOC) and the carrier will start flying.

“Nigeria Air will soon start flying, we've got the aircrafts ready, they’re painted in the colors. We’ve crossed all the Ts and dot the Is. We’re at stage five of the AOC issuance by NCAA. Once that is done, the airline will begin to fly.

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NEWS

ADDRESSING STATE OF THE NATION...

L-R: Deputy Chief of Staff to Lagos State Governor, Mr Gboyega Soyannwo; Commissioner for Information and Strategy, Mr Gbenga Omotoso; Governor Babajide Sanwo-Olu; Commissioner for Economic Planning and Budget, Mr Sam Egube and the Deputy Governor, Dr Obafemi Hamzat, during the Governor’s address to Lagosians on the fuel shortage and currency crisis rocking the Nation, at the Lagos House, Marina, ...yesterday

Cash Shortage: Sanwo-Olu Approves 50% Reduction on Public Transport, Creates Food Palliative for Vulnerable Lagosians BRT, LAGRIDE, FMLM, LAGFERRY passengers to enjoy weeklong relief with Cowry Cards Governor permits fuel stations to operate 24hrs Hails Supreme Court ruling on currency swap Segun James Following the tension caused by persistent fuel shortage and the debacle of currency exchange by the Central Bank of Nigeria (CBN), Lagos State Government has announced palliative measures to cushion effects of the crises on residents.

Governor Babajide Sanwo-Olu, yesterday, directed 50 per cent fare reduction in all state-owned transportation services from today.

In a statement, it pointed out that passengers using BRT buses, LAGRIDE taxi-scheme, First Mile and Last Mile buses, and Lagos Ferry Services (LAGFERRY) would enjoy the palliative for the next one week, using their Cowry Cards.

The governor also gave express permission to all fuel stations operating within Lagos to commence 24-hour operations to allow residents buy fuel without having to stay in queues for hours.

The controversy over the CBN currency exchange deadline, SanwoOlu said, has had dislocation effect on Lagosians, limiting their access to cash for daily transactions and making their means of sustenance difficult.

The governor announced establishment of food banks in various parts of the state for distribution of food items to vulnerable families hit by the lingering crisis.

He said: “I have found it neces-

sary to address the good people of Lagos, following some event in our dear country. The currency exchange and the fuel situation have, no doubt, raised the tension in the land.

“I commend our dear citizens for your patience and understanding in the face of hardship that you have experienced in recent days.

Your resilience has been remarkable.

You stand firm in demonstration of your confidence in our ability to protect your interest in these

CBN Directs Banks, Others to Guard against Terrorism-related Transactions Nume Ekeghe The Central Bank of Nigeria (CBN) has directed commercial banks, other financial institutions(OFIs) under its regulation and payment service providers to search through their database in search of any transaction that could be tied to a wanted terrorist.

The apex bank in a circular signed by the Director, of Financial Policy and Regulation Department, CBN, Harry Audu, stated that one Abdul Rehman Makki, should be added to the Isil and Al-Qaida sanction list.

The circular stated: “The United

Nations Security Council (UNSC), had on January 16, 2023 listed Abdul Rehman Makki as being associated with ISIL or Al-Qaida and has accordingly been added to the ISIL (Da'esh) & Al-Qaida Sanctions List of individuals and entities that are subject to assets freeze, travel ban and arms embargo as set out in paragraph 1 of Security Council resolution 2610 (2021).”

The circular released yesterday further stated: “Further to the requirements of the provisions of Section 6 of the CBN AML/CFT Regulations, 2022 and Section 4.3 of the CBN Guidelines on Targeted Financial

Sanctions Related to Terrorism and Terrorism Financing, 2022, all financial institutions are required to immediately screen their customer database for business relationship with the designated individual and file a report to the NFIU and update their sanctions screening list to reflect the recent changes in the UNSC Consolidated Lists. This is for the immediate compliance of all financial institutions.”

Abdul Rehman Makki is the head of LASHKAR-E-TAYYIBA (LET) political affairs. He served as head of LET’s foreign relations department and member of Shura

In Kogi, Tinubu Promises to Revive Ajaokuta, Dredge River-Niger Says those who wanted to exploit naira swap hardship shamed Presidential Candidate of the All Progressivess Congress (APC), Bola Ahmed Tinubu, has said if elected into office, he would ensure revival of the Ajaokuta Steel Complex in Kogi State, in addition to other critical projects.

Speaking at the APC campaign rally in Lokoja, Kogi State, yesterday, Tinubu said his government would prioritise development of mineral resources in the North Central state, in addition to dredging the River Niger, which will allow ship to berth in inland ports.

"Hope is here. Ajaokuta resuscitation will be done. Dredging of Niger River will be done.

Agriculture will be the source of our prosperity. North Central

has the potential for great mineral industrialisation, we will work on that, " he said.

Tinubu also felicitated with the people of Kogi State and other Nigerians over the Supreme Court judgment on the currency swap impasse, saying those who wanted to take advantage of the situation have failed.

The presidential candidate said members of the opposition were counting on the unintended suffering caused by the Central Bank of Nigeria (CBN) policy to play to their advantage.

The Supreme Court had in a unanimous judgment yesterday, halted the February 10 deadline for the validity of the old higher

denomination naira notes, pending hearing on the substantive suit filed

by Kogi, Kaduna and Zamfara State governments.

The case was adjourned to February 15.

Tinubu lauded the mammoth crowd for turning up for the event in spite of the challenges,and asked them to repeat the same on the day of election, insisting that, the opposition wanted to take advantage of the people's hardship.

"They even rejoiced when you cannot sell your products. You will never see hardship in your lives.

You will see prosperity, you will see progress. This your determination, I want you to multiply it.

(governing body). He is also a member of JUD’s Markazi (Central) Team and Daawati (proselytization) team. He is brother-in-law of LET Chief Hafiz Muhammad Saeed.

Abdul Rehman Makki is wanted by the Indian Government.

UNSC had stated: “Makki was listed on 16 January 2023 pursuant to paragraphs 2 and 4 of resolution 2368 (2017) as being associated with ISIL or Al-Qaida for “participating in the financing, planning, facilitating, preparing, or perpetrating of acts or activities by, in conjunction with, under the name of, on behalf of, or in support of, “recruiting for”, “otherwise supporting acts or activities of”, and “either owned or controlled, directly or indirectly, by, or otherwise supporting” Lashkar-e-Tayyiba.”

difficult days.

“The current situation has had telling effects on States and we have taken some steps to cushion the effects on your wellbeing. To support you in weathering these stormy days, I hereby announce a 50 per cent cut in fares on all our BRT buses, LAGRIDE taxi-scheme, First Mile and Last Mile buses, and Lagos Ferry Services (LAGFERRY).

This will take effect from tomorrow (Thursday) for the next seven days.

We will push out more Cowry Cards to enable more Lagosians get onboard our services.

“I have also directed that food banks be set up in various parts of the State to cater for the vulnerable.

We have identified stakeholders and organisations that will help distribute food stuff to the vulnerable people in various communities hit by the current situation.

“By this, we are not out to solve the entire economic crisis created by the currency swap programme, but we understand this is a difficult moment for vulnerable individuals.

The relief will help until normalcy is restored.”

Sanwo-Olu disclosed that the state government had suspended the ongoing construction work on Buba Marwa Road, the dual carriageway leading to tank farms in Ijegun Egba from where 40 per cent of petroleum products were transported to other parts of the country.

The governor said the road, which was about 50 per cent completed would give unhindered

access to petrol tankers to transport products to filling stations, thereby increasing supply of petroleum products.

He said: “There have been talks between the state government and the Nigerian National Petroleum Corporation Limited (NNPCL) on the lingering fuel shortage. NNPCL demanded Ijegun Egba tank owners and operators’ unhindered access to the tank farms where about 40 per cent of petroleum products come from.

“We have been able to do that by rearranging the timing of the work on the Buba Marwa Road, the dual carriageway that leads to the tank farms. The road is about 60 per cent completed, but I have directed suspension of the construction work on the highway in order to improve supply of petroleum products.”

Sanwo-Olu hailed the Supreme Court for its pronouncement on the currency exchange crisis, stressing that the apex court’s “wise intervention” on the matter would help douse the nationwide tension.

The Governor also commended security agencies, including the Military, Department of State Services, the police, Civil Defense and Neighbourhood Watch, for being proactive and on alert to protect law-abiding residents.

He warned criminals and mischief makers, who may want to exploit the situation as an opportunity to incite violence, saying any attempt by criminally-minded individuals to breach the peace in Lagos would be counterproductive.

Ajaero: NLC Will Lead Struggle against Hardship Biting Nigerians Onyebuchi Ezigbo in Abuja Newly elected president of the Nigeria Labour Congress (NLC), Mr. Joe Ajaero has pledged to reawaken the spirit of the labour movement to become the true champions of the Nigerian people.

He said NLC would cry the cries of the Nigerian masses and jointly wage wars against all forces of impoverishment and misery, adding that, the current electricity tariff and provisioning had remained stacked against Nigerian workers and masses, adding that NLC would work with government to bring

sanity to sector.

"We urge the federal government again to review the privatisation of the electricity sector; a process both the government and all of us have agreed was mired in corruption," he said.

In his acceptance speech after being unanimously elected at the 13th Quadrennial Delegates Conference held in Abuja yesterday, Ajaero said he would be seeking deeper engagement with governments at all levels more creatively to sustain the philosophical foundations and traditions of the congress.

The soft spoken former General

Secretary of Nigeria Union of Electricity Employees (NUEE), who vowed not fail Nigerian workers and people said the leadership of the congress would seek platforms to lift them from shackles of poverty.

"We will not betray that trust!

We are committed to resolutely pursuing the interests and desire of Nigerian workers and by extension the majority of Nigerian masses.

"We, therefore, pledge our loyalty to the NLC, Nigerian workers, Nigerian masses and Nigeria. Our breathe comrades, our thoughts and our actions shall be propelled by this avowal!”

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LEAD CONTINUATION

CBN PRESS BRIEFING IN BENIN...

L-R: Director, Risk Management, Central Bank of Nigeria (CBN), Abuja, Dr. Blaise Ijebor; CBN Benin Office Branch Controller, Mr. Renner Jumbo; Edo State Commissioner for Communication and Orientation, Hon. Chris Nehikare, and the Special Adviser to the Edo State Governor on Media Projects, Crusoe Osagie, during a press briefing in Benin City... on Tuesday

AGF: FG STUDYING SUPREME COURT RULING HALTING ENFORCEMENT OF CASH SWAP DEADLINE the matter is adjourned for hearing.”

The comment came as Governor of CBN, Mr. Godwin Emefiele, again met with President Muhammadu Buhari, yesterday, at the State House, Abuja, on the currency issue. It was the second of such meetings in two days. Buhari had on Tuesday met with Emefiele, alongside Chairman of Nigeria Governors Forum (NGF), Aminu Tambuwal; Governor of Kebbi State and Chairman of Progressive Governors Forum, Atiku Bagudu; and Chairman of Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa.

The CBN governor was sighted around the office of the president few hours after the Supreme Court gave a temporary injunction restraining the federal government from banning the use of the old naira notes from tomorrow. It was not clear what Emefiele’s mission was at the seat of government, as he refused to speak with reporters during the visit.

However, mixed reactions continued to trail yesterday’s decision of the Supreme Court to temporarily halt the move to phase out the use of old N200, N500 and N1,000 banknotes from circulation from February 10.

While some senior lawyers backed the decision of the apex court, some civil society organisations (CSOs) faulted the verdict of the court.

Following the ruling, the presidential candidate of the All Progressives Congress (APC), Bola Tinubu, and Governor of Rivers State Nyesom Wike hailed the state governors for standing on the side of the Nigerian people over the cash swap policy.

They expressed satisfaction with the court ruling.

On its part, the Peoples Democratic Party (PDP) alleged fresh moves by the presidential campaign council (PCC) of APC to derail the 2023 general election and put the country's democracy in jeopardy. It also alleged that the ruling party had been intercepting and storing the new naira notes for the purpose of vote-buying.

But the Labour Party called on Nigerians to resist any attempt by the APC governors to arm-twist the CBN governor into backpedalling on the deadline for cash swap.

However, the International Monetary Fund (IMF) and the World Bank urged the CBN and the federal government to further extend the deadline.

The Supreme Court Ruling

A seven-member panel led by Justice John Okoro halted the move by the federal government to ban the old banknotes, in a ruling on an ex parte application brought by three northern states of Kaduna, Kogi and Zamfara.

The three states had specifically applied for an order of interim injunction restraining "the federal government through the CBN or the commercial banks from suspending or determining or ending on February 10, 2023, the time frame with which the now older version of the 200, 500 and 1,000 denomination of the naira may no longer be legal tender pending the hearing and determination of their motion on

notice for interlocutory injunction."

Moving the application yesterday, counsel to the applicants, Mr. A. I. Mustapha, urged the apex court to grant the application in the interest of justice and the well-being of Nigerians. He stated that the policy of the government had led to an "excruciating situation that is almost leading to anarchy in the land."

While he referred to a CBN statistics that put the number of people without bank accounts at over 60 per cent, Mustapha lamented that the few Nigerians with bank accounts could not even access their money from the banks as a result of the policy.

The senior lawyer further argued that unless the Supreme Court intervened, the situation might lead to anarchy because most banks were already closing operations.

Mustapha further argued that the Supreme Court was not only the highest court in the land, but the final court and as such had the jurisdiction to entertain any issue, including that which affects the well-being of Nigerians. He urged the court to grant the application and restrain the federal government from ending the use of the old naira notes from February 10, 2023, pending the hearing and determination of the main suit.

Ruling on the motion, Okoro held that after a careful consideration of the motion ex parte, “This application is granted as prayed. An order of Interim Injunction restraining the federal government through the CBN or the commercial banks from suspending or determining or ending on February 10, 2023, the time frame with which the now older version of the N200, N500 and N1,000 denomination of the naira may no longer be legal tender pending the hearing and determination of their motion on notice for interlocutory injunction."

The court adjourned to February 15 for hearing of the main suit.

Although, Mr. Mahmood Magaji had announced appearance for the AGF, who was the sole respondent in the suit, the panel did not hear him in the ex parte application.

The Attorneys-General and Commissioners for Justice of the three states had dragged the federal government to court challenging the demonetisation policy of the federal government, which they said had brought untold hardship on the people of their states. In the suit marked: SC/CV/162/2023 and filed on February 3, the plaintiffs sought a declaration that the Demonetisation Policy of the federation being currently carried out by the CBN under the directive of the president was not in compliance with the extant provisions of the constitution and CBN Act, 2007 and actual laws on the subject.

Besides, plaintiffs wanted a declaration that the three-month notice given by the federal government through the CBN under the directive of the president, the expiration of which would render the old banknotes inadmissible as legal tender, was in gross violation of the provisions of Section 20(3) of

the CBN Act 2007, which specifies that Reasonable Notice must be given before such a policy.

Similarly, the plaintiffs urged the court to declare that given the express provisions of Section 20(3) of the CBN Act 2007, the federal government, through the CBN, had no powers to issue a timeline for the acceptance and redeeming of banknotes issued by the bank, except as limited by Section 22(1) of the CBN Act 2007.

The plaintiffs claimed that since the announcement of the new naira note policy, there had been an acute shortage in the supply of the new naira notes in Kaduna, Kogi and Zamfara states and that citizens who had dutifully deposited their old naira notes had increasingly found it difficult and sometimes next to impossible to access new naira notes to go about their daily activities.

Plaintiffs, in addition, cited the inadequacy of the notice coupled with the haphazard manner in which the exercise was carried out and the attendant hardship same was wrecking on Nigerians, which had been well acknowledged even by the government itself.

Legal Minds React

Lawyers, who spoke on the restraining order issued by the apex court against the federal government, were unanimous that the Supreme Court’s action was ultra vires.

In their various submissions, the senior lawyers stressed that the Supreme Court, being the final court in the land, had powers to look into and resolve dispute. They, however, pointed out that the apex court had not decided on the issue, but only took a step in a matter of extreme urgency to preserve the res (subject matter, which is the change of currency).

Leading constitutional lawyer, Professor Mike Ozekhome, SAN, said the Supreme Court ruling was that “everything should be in same position. We call it status quo ante bellum. That is the state of affairs before the crisis broke out, and come back on February 15 for the court to hear the matter.

Ozekhome stated, “The Supreme Court has not decided the matter.

All it did was that in matters of extreme urgency, you can grant an interim order, even if it be ex parte to prevent the subject matter of the suit being truncated.”

But Ozekhome argued that other courts in the hierarchy of courts must “blow muted trumpets” when matters are being heard in the apex court.

He said during a programme monitored on Channels Television., “Notwithstanding the fact that a high court or Federal High Court had granted an order telling the CBN, ‘You can stop this naira swap policy on the 10th of February as you have decided to do,’ the Supreme Court today said, ‘Hello? Don’t do that’” Asked by THISDAY to comment on the fact that since the CBN was not joined in the action by the three state governments, whether the judgement was binding on the apex bank, Ozekhome said, "If you

look at the injunction granted by the Supreme Court, it says the federal government is hereby restrained through the CBN and other commercial banks from halting the further use of the N200, N500 and N1,000 notes after February 10,2023. So it (Supreme Court) makes it clear. So the argument doesn’t hold water because they included it very well.

“It says ‘an order of interim injunction restraining the federal government through the CBN or the commercial banks from suspending or determining or ending on February 10, 2023, the timeframe with which the now older version of the N200, N500 and N1,000 denomination of the naira might no longer be legal tender, pending the hearing and determination of their motion on notice for interlocutory injunction which is now adjourned to 15 February. So, they specifically mentioned the CBN.’ “Just to add that it is prejudicial at this stage to comment on the matter because it is still before the Supreme Court, but some of the issues that will definitely come up are whether in view of section 1, subsection 2 of the CBN Act which makes the CBN an independent and autonomous body, whether it can be said the CBN is part and parcel of the federal government.

“Another issue would be whether states suing the federal government through their attorneys general constitutes a dispute between states and the federation. In other words, whether the federal government, which operates through the president in section 5 of the constitution, can be equated to the Nigerian federation, which is sovereign under section 2, subsection 3 of the constitution.

“That is the federation which is sovereign and made up of 36 states and 774 local government areas of Nigeria. Is the federal government equal to the federation?

“The Supreme Court itself had held in 2017 in Attorney General of Lagos state Vs the federal government and also in 2014 in the Attorney General of Lagos state Vs the Federal Government and also in 1982 in Attorney General of the federation Vs the Attorney General of Bendel State that for a dispute to arise and for the Supreme Court to assume original jurisdiction under section 232, subsection 1, of the 1999 Constitution, it must be a dispute between the states and the federation, not versus the federal government and between states and states which involves the question of law.

“These are the issues that will come up when the legal fisticuffs start. But my advice is that since the court hearing the matter is a full constitutional court of seven justices, the Supreme Court should invite some senior constitutional lawyers as amicae curiae, that is as friends of the court, to come and discuss this issue.

“The Supreme Court, to me, should also reach out to the remaining 33 attorneys general of the federation to come in with their briefs because it’s a matter that is like the onshore/offshore oil suit of 2001, which was very contentious.

It’s a serious constitutional matter that we are facing."

On his part, Chief Okey Wali, a one-time Nigeria Bar Association (NBA) President said, "Everybody is bound by what the Supreme Court has done."

Wali added that "the law is what the Supreme Court says it is", the final court in the land, and "what they have done is to order parties to stay action until February 15.

"They have not said anything to warrant all this noise, they simply said everybody should come back and let's hear you, but in the interim everybody stay action. That is a very reasonable thing to do".

Another former NBA President, Mr. Paul Osoro, said the order the apex court gave was simply interim, "in order words, let us preserve the res so that we can hear the matter and make a proper pronouncement."

He explained that the court took the decision because what the applicants asked for was in relation to whether the currency should be changed or not.

Usoro further explained that the Supreme Court could not hear the matter before the initial timeline of Friday, "so what we will want to do is please don't change it on Friday, until we can hear that matter properly next week Wednesday and then we decide whether you have a case or you don't have a case."

According to the senior lawyer if the res (subject matter) is not preserved, there will be nothing to decide by the time the Supreme Court meets on February 15.

While also disagreeing that the Supreme Court, Mr. Ahmed Raji explained that what the Supreme Court did was "to say, look this matter has been submitted for judicial examination, therefore, both parties should not do anything that would overreach the likely judgement of the court.

"It simply said let the status quo be and don't stop the circulation of the old notes."

Raji, argued that Nigerians ought to commend the Supreme Court for attending to such national issue despite the "tight and heavy docket of the court."

He said concerning the court, "We should commend them for even adjourning to next week to hear the matter and make a final pronouncement on the issue.

“The judiciary is performing its role by examining the legality of any executive action or act and that is why in law we have the Judicial Review of Executive or Administrative actions.

"This is a dispute between state and the federal government and the only court to look into that is the Supreme Court of Nigeria and the proper thing is to make a preservative order.

"They have not determined the merit of the matter, they only preserved the subject matter."

Mr. John Baiyeshea doubted if the Supreme Court has jurisdiction to entertain the case in the first place because there was probably no direct dispute between the three states that approached the court and the federal government.

He said, "There is no doubt that the policy of the CBN in redesigning the naira, is a fiasco. So, the Supreme Court may just have acted to temporarily to stem the chaotic slide in the country."

Like others, Baiyeshea noted that the order was temporary in nature, pointing out that courts (including the Supreme Court), rarely give interim orders based on ex parte application(s) as in this case.

Baiyeshea stated, "I believe that the federal government will raise the issue of jurisdiction when the substantive motion comes up for hearing. But whichever way the Supreme Court may decide the issue of jurisdiction, the interim order granted would have achieved its purpose."

Mr. Liborous Oshoma, a lawyer and public affairs analyst, stated that the apex court had powers over any matter at all. However, he noted that the Supreme Court had not taken arguments for and against the case.

"What the Supreme Court has done is that parties should hold on, pending when the matter is heard so that a state of helplessness is not foisted on the apex court."

According to him, the case would become a mere academic exercise by the time the apex court would be hearing it on February 15, if the February 10 deadline for the expiration of old notes was not stopped.

Oshoma, however, noted that the governors who took the matter to court were being smart by not including the CBN as a party.

He also raised question as to whether the Attorney General could issue a directive to the CBN who is not a party in the matter.

He stated, "Although it can be argued that because it is directed at the federal government and the CBN reports to the presidency who represents the federal government, so by extension the CBN cannot do anything outside of what the court have said".

Stressing that the Supreme Court had not dabbled into matters that were exclusive to the executive, he said the apex court could only do so if there was reason to believe that the executive did not follow due procedure in taking the action that gave rise to a dispute.

Oshoma said, "It is only when the procedure is not followed that the Supreme Court assumes jurisdiction, or whether the federal government and CBN in exercising powers vested on them by the CBN Act, followed procedure to ameliorate the suffering of the masses."

However, a senior lawyer, Professor Konyinsola Ajayi, yesterday, said the CBN was free to carry on with the cash swap policy, despite the court ruling. He stated that the CBN, not being a party before the Supreme Court, hence the court was not expected to grant an order against a person not before it; not sued or not heard.

He said, "The CBN is free to carry on with its policy on currency redesign taken in accordance with the plenitude of its powers under both the CBN Act and Currency Control Act. It is fitting to note Continued on page 60

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

Odibo: It’s Possible is the Unifying Mantra that Energises Obidients Director of Media and Communications for the Big Tent coalition of political parties, social movements and civil society organizations for ObiDatti, Charles Odibo, in this interview with Udora Orizu, explains the essence of the Obidient mantra, “IT’S POssible,” and what it means to every progressive minded Nigerian.

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As the lyrics indicate, it speaks to the can-do spirit of the indomitable Obidients. It states that “it’s time to stand for what we believe; it’s time to stand with ObiDatti; we are saying it’s possible because if we start it, we can achieve it; all over Naija we say it’s possible. With ObiDatti, a new Naija is possible.”

Need I remind you that Nigeria is probably in the same type of dire straits as America was in 2008, when a young, largely unknown man with a funny name, Barack emerged.

Worse still he is a black man, whose stock is just about 3% of the US population. He understood he had no chance with the establishment so he knew he needed to expand the voting base to bring in the youth who are not swayed by tribe, colour or religion. He told them YES, WE CAN! It energized them. The rest is history.

Then, the recent case in nearby Kenya with William Ruto and his “Hustler Nation.”

In Kenya, hustlers refer to those - especially young people - who struggle to make ends meet in an economy that is said to be no longer working for them.

He framed the election as between “Hustlers” and “Dynasties.”

It’s the same thing Obi is doing when he charges the youth that it is possible for them to take back their country because, according to him, “those people there, they don’t know you, they don’t care about you.”

ell us about the Big Tent which is led by Professor Pat Utomi and the Coalition’s relationship with the Labour Party and its Presidential Campaign Council.

The Big-Tent Coalition for the ObiDatti Campaign led by Professor Pat Utomi, renowned activist and crusader for the common good, was created to harness the Obidient Movement’s Support Groups, 3rd Force coalitions, other Political Parties, individuals and Professionals in creating commitment and ownership of the Peter Obi project by those who don’t belong to Labour Party or any party.

We also harmonize, organize, support and coordinate Support Groups at the Polling Units, Wards and LGA levels to complement the Labour Party and Presidential Campaign Council efforts in canvassing, getting out the votes and protection of the votes.

Our door to door votes canvassing has also just begun. Big Tent, in addition, supports the Obi-Datti candidacy with key Professional Advisory in Policy Strategy Formulations for an effective issues based campaign. The BIG-TENT also has a policy strategy Think Tank group, and most importantly a complementary campaign structure.

In the Obi Movement, a common refrain in your communication is either “A New Nigeria is Possible” or simply, “IT’S Possible” which incidentally is the theme of the Peter Odibo Obi/Labour Party Manifesto. What informed this slogan?

“It’s Possible” is the central idea around which this never-been-seen before organic Obidient Movement is built. It speaks to the indomitable spirit of the nation’s vibrant youth who have chosen to take back their country, for good.

For us as an organization, what did we seek to accomplish in developing this slogan, which has turned out to be a strong battle cry?

As you know, our core audience are the Obidients (18 to 45 years, 71% of registered voters). They are also influencers and recruiters.

We recognized that the early biggest challenge that confronted the Obidients was not the sorry state of the nation.

They know. It’s the sorry state that has made them to rally behind Obi and Datti as the men they trust who can turn the tide.

But it was the psychological warfare by those who live off our common heritage, insinuating that the ever growing movement could be a flash in the pan.

Obidients needed to be re-assured.

So, above all, the slogan that must energise our base has to re-assure them to believe that this election is winnable; that it’s doable and achievable.

And it is working as you can see in the daily exponential growth of the organic movement. Then you look at the numbers.

In just three months – June to August last year, 12 million Nigerians, 8.8 million of them between 18 and 34 registered, majority of them just to vote for Obi. Our mantra, “It’s Possible” also speaks to the innate human nature to overcome challenges in order to make dreams and aspirations come true. We all have dreams and hopes but the reality is that the obstacles to achieving them are evident. ObiDatti campaign is therefore admonishing all Obidients not to give

up on their determined quest to take back Nigeria because Obi understands the journey through the maze of life and will guide us all to a new Nigeria that is possible.

But do you have any empirically verifiable evidence that this coming election can be won by the ObiDatti ticket?

Oh, sure. You don’t have to look too far. A vast majority of Nigerians who will decide who becomes Nigeria’s next President come February 25 have also emphatically stated their preference for the candidature of Peter Obi as results of five polls conducted by independent and credible pollsters between September and December 2022 have clearly shown that Obi has consistently been voted for in the surveys as the preferred choice of registered voters in the forthcoming 2023 election.

In a nutshell, based on empirical methodology used in five independent polls by four credible pollster institutions between September and December 2022, namely – ANAP/NOI; Bloomberg; We2gedaNG; and Nextier, Peter Obi, our Presidential candidate is in pole position to win the presidential election at the first ballot with a cumulative average of 41.5%, while Atiku Abubakar of PDP, Bola Tinubu of APC, and Rabiu Kwankwanso of NNPP follow behind in 2nd, 3rd, and 4th positions with 16.74%, 16.3%, and 2.7%, respectively.

A further deep-dive into the survey by the independent polling firms also show a uniform pattern of the poll results all of which conclusively showed that Obi is in commanding lead in the three geo-political zones of North Central, South-South, and South East respectively, while also maintaining a healthy second place in the South West and North East, slightly below Bola Tinubu of APC, and Atiku Abubakar of PDP, respectively.

So, tell us about the recently released “It’s Possible” radio campaign which is receiving rave reviews.

Our mantra, “It’s Possible” also speaks to the innate human nature to overcome challenges in order to make dreams and aspirations come true. We all have dreams and hopes but the reality is that the obstacles to achieving them are evident. ObiDatti campaign is therefore admonishing all Obidients not to give up on their determined quest to take back Nigeria because Obi understands the journey through the maze of life and will guide us all to a new Nigeria that is possible

Are you reasonably convinced that Nigerians trust Obi as the man they can rely on to improve their fortunes and make the country better?

Obi has shown in words and deeds that he can be trusted to keep to his words, in and out of office ever since he emerged in the public space.

His antecedents as a two-term Governor of Anambra state between 2006 and 2014 are clear testaments that he can be trusted, that he is committed, that he is competent, and above all, he is a man imbued with character, which is everything.

As Governor of Anambra State for eight years, some of his remarkable achievements included exemplary commitments to reforms and development.

Under him, Anambra state was rated the least indebted state in Nigeria by the Debt Management Office (DMO); Anambra was adjudged by the Federal Ministry of Works as the state with the best network of roads in the country having asphalted over 800 kilometres of roads; and he re-opened long-closed schools and returned Missionary schools to the original owners with a grant of N6 billion for their rehabilitation, distributing over 30,000 computers, internet access, Microsoft academies to over 500 schools.

Most remarkably, under the governance of Obi, Anambra state students for the first time achieved first place nationwide in the 2011, 2012, and 2013 WASSCE and NECO examinations; he ensured the payment of over N35 billion in outstanding pensions and gratuities in the state since 1999.

Obi’s greatest legacy in office was his financial prudence. He funded development projects without borrowing money from financial institutions nor raising bonds, and he handed over to his successor the sum of N75 billion in the form of cash, local, and foreign investments.

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Emami: Some Forces Don’t Want Tinubu to Succeed Buhari Director, Special Duties (iv) of the Presidential Campaign Council of the All Progressives Congress, Chief Ayiri Emami, in this interview says those working to sabotage the presidential flag bearer of the party, Asiwaju Bola Tinubu, are doing so because they do not want a strong willed person to succeed President Muhammadu Buhari. Adedayo Akinwale brings excerpts:

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here is so much unpalatable news coming from the APC.You have a presidential candidate in Asiwaju Bola Tinubu but the story out there is that the house is divided against itself and we have a few weeks to the election, what’s your take on this?

To me, I don’t want to believe that the house is divided against itself. There are some elements who are trying to sabotage the system, but I don’t want to believe that the house is divided against itself. If the house is divided, you can see party chieftains coming out to say, “Oh, this is what we want to do”. For me, if you cannot come out, that shows that you’re a coward, you’re just there, just trying to sabotage yourself, not even the interests of everybody. So I don’t see that as a house being divided against itself.

winning this election?

To me, I don’t even see PDP or any other party throwing money, because the economy itself, there is no money to throw around.

When there’s money to throw around, people will throw money around.

The situation today, not only in Nigeria, around the world, if you understand the situation, it is not actually friendly to throw around money but when it is necessary, you bring out money to spend. To me, instead of throwing around my money going to rallies and all those things, I will keep my money for logistics to move people, for example, the riverine area where I can move people to various communities so that they can vote. It is not only in Nigeria that we have economic issues. To throw money around will be a little bit difficult. Not peculiar to APC.

Emami

public and says it. But what we’re trying to see is that those saboteurs within should please retreat. Let’s go into a proper contest. I don’t see any problem. To me, I know that Buhari is supporting us because he had said it publicly and that is one Muslim man that I believe that once he swears by the Quran, he stands by it.

President Muhammadu Buhari is not carrying the campaign on his head as it should be of a leader of the party towards ensuring that Tinubu becomes the next president and this can be seen on a number of cases that he was not present at the campaign. How do you react to that?

To me, even his own election, it was other people that were actually championing his campaign. So, I just feel that that is his normal style. All humans are not the same.

Tinubu is a workaholic, during the 2014/2015, he did that. At a time, even during the primary somebody that was contesting, like President Muhammadu Buhari said I didn’t have money to give to the delegates. For example, if he was not the one contesting, people would have said this man is a wicked man. Then, he was the one contesting and he could make that kind of statement in the public while canvassing for votes at the campaign ground.

To me, it is his lifestyle, even if he is supporting you, it is not that type that comes out to the

One of the bedrock of elections is funding. Most of the campaign council members are in complete lack of funds, and we know that the governors are not really coming out to spend money, the party has failed to raise funds for this, thereby leaving only Asiwaju with the burden to spend money. Don’t you think this is part of the plot to frustrate Tinubu from

You are from Delta state where the PDP Vice Presidential Candidate hails from, what impact do you think Asiwaju can make?

Asiwaju will make a lot of impact, I have said it before now. The governor (Ifeanyi Okowa) is a very good friend and an elder brother. But with due respect, he has not done very well for the people. Warri is an oil city, we are in total darkness; roads are not good, very dirty, people are not happy.

So, it’s already showing that Asiwaju and Ovie-Omo Agege are making a lot of waves.

To a lot of Deltans, Tinubu is our in-law and that is working for him. So, if Asiwaju goes to South south, he is talking to his in-laws and we know he is going to do a lot for us. Even before now, he used to extend his hand of fellowship to us. When we have a problem, we run to him and he solves it.

Outside Delta, how secured is Asiwaju in terms of galvanizing votes in the whole of South-south?

As Director of Special Duties, I have done a lot of studies because sometimes I am very angry when people say (Peter) Obi is going to have votes in the South-south, it is not the way people are looking at it. There is a family in my local government. If everybody is in this party, they will be at the other party.

When some of us were in PDP, they were in the Labour Party, because (Great) Ogboru was using Labour then.

When APC came, they moved to APC and we moved with them. I thought when Obi’s Labour party is back, I thought they would move.

I organised one event, trying to sensitise people to pick up PVCs and I tried to go around the entire local government to know the members of the Labour Party, but we couldn’t find any.

Maybe one or two persons now who could not get APC tickets are there to get the ticket to contest. What I see is PDP versus APC. That’s one thing I want to still advise my people to come out and give proper support to Asiwaju because Asiwaju will definitely win. And if he wins, the North will say they are the ones that supported Asiwaju that we didn’t come out to support Asiwaju.

When (Nasir) el-Rufai was saying Obi will win South-south and South-east, to some of us, we felt pained. That means he’s not doing his study properly or maybe they are trying to even sabotage us so that at the end of the day we cannot go and start laying claims that we actually worked for Asiwaju. If not, whatever el-Rufai was saying, 80 percent of it was true.

But saying that Obi is going to win South-south, for us, it is very painful. He is somebody we respect. I don’t see Obi winning anywhere in South-douth. You can check it out.

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

Metuh: Soludo’s Security Strategy Has Produced Impressive Results A Chieftain of the All Progressives Grand Alliance in Anambra State, Pascal Metuh, in this interview with Kingsley Nwezeh speaks on Governor Chukwuma Soludo’s approach to governance, security and economy, the recent flood disaster and erosion menace in the state, among other issues.

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ou contested election to represent Idemili North and South Federal Constituency of Anambra State in the House of Representatives under the All Progressive Grand Alliance (APGA).

What was your experience like?

My experience is very typical of what is expected of elections in Nigeria with its ups and downs. However, a few occurrences was a bit shocking and this I believe is because I was now experiencing it as an actor and participant in the election itself.

My hope in the average Igbo/Idemili person and Nigeria as a whole was kind of rekindled because the process afforded me the opportunity to once again have very close contact with the electorate and when I say this, I mean the real community people, people who are against all odds still committed to justice and fairness as well as doing things the right way.

On the other hand, I also saw firsthand the fickleness of human nature especially when forced by some subliminal factors such as economic conditions beyond our control, it becomes very clear that people ignorantly could sell the future of entire generation for a mussel of bread.

This is very evident in cases of vote buying during the delegate/primary elections in which I participated as a contestant.

During that election, did you notice any area that required reforms in political party primaries?

On the issue of areas where I think that reforms will be needed in our party primary

Metuh

election process, I am very glad you asked this question because I have had the opportunity to raise same issue at many forums and meetings of key APGA party stakeholders with regards to this very important and sensitive issue.

I want to state here that there are many factors militating against the quality of primary elections conducted by most political parties in Nigeria, not only in APGA but in all the other political parties in Nigeria. If truly the aim of conducting primary elections is to enable the electorate choose the most qualified, suitable and most acceptable candidate to represent various constituencies in general

elections, then care must be taking to ensure that the process of leadership recruitment which in our case appears more important than the election itself. We hope to someday be in the position to conduct primary elections devoid of corruption and undue influence of monetary inducement on delegates.

Considering the fact that in most cases the number of persons selected as delegates does not represent up to one percent of total population of the constituency in question, it now becomes very necessary that they are selected under the most transparent process which is usually not the case. What we see is different candidates jostling for their own delegate lists to be adopted by party leadership and then imposed on the rest.

This system lends itself easily to shoddy practices which actually taints the process and produces disaffection and rancor among candidates, who were out bided or out maneuvered.

These are contestants, who should have naturally closed ranks with whoever emerged the winner and work with him or her for the success of the party ticket in the election proper.

However, this is not always the case as we see the winner and his fellow contestants wasting so much time and energy in court as result of a faulty process of selection.

For example, Idemili North and South Federal Constituency has a population of nearly a million people with over 250,000 registered voters (INEC November,2021), and the last primary election for Federal House of Representatives in which I was a contestant; my party had only about 72-member delegates to elect who represents up to a million people in the house.

I consider this not very balanced and fair and this is the reason it will be easy for a few money bag politicians to pocket the delegates and buy them over, now you have 72 people who decided for the rest most likely based on their own intestinal considerations.

This is even made more possible by the prevailing economic condition in the country.

This is also replicated in both PDP and APC during the last presidential primaries where the amount of dollars shared by each candidate determined who will be winner and who will be loser.

But lately we are glad a conversation is ongoing, many party faithful in the leadership cadre of our great party are beginning to see this as real challenge to achieving a more democratic and fair process with regards to conduct of primary elections.

To this end, we have advocated for a change in the mode of conducting primary elections from delegate system to a system that we refer commonly to as, direct congress. This is a system where registered party members are verified in their wards, and primaries conducted at the ward level where each party member queues up to vote preferred candidate using option A4 which we believe will bring more credibility, less corruption and influence of money and most importantly, more cooperation and collaboration among contestants who will most likely accept the result of primaries without resorting to court cases thereby increasing the chances of our party to win general elections.

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

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T H I S D AY ˾ AY, ͷ˜ 2023

FEATURES

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

Chimamanda Ngozi Adichie: Celebrating a New Generation of Empowered Women through WISCAR In 2008, Women in Successful Careers, WISCAR, a non-governmental organisation, was set up to focus on empowering and developing professional women to contribute to development and growth in Nigeria and indeed Africa. With the aim to help build the next generation of women leaders in Nigeria through intelligent planning and focused effort, WISCAR's motto is "Developing Women to Build A Better Nation".

Now in its 14th year, WISCAR is continuing its tradition of annual outreach and advocacy to working women aimed at developing women through leadership training and mentoring for professional development, leadership success, and overall wellbeing. Last year, they chose global icon, the award-winning Nigerian writer and women’s rights advocate, Chimamanda Ngozi Adichie, as the headliner and keynote speaker for its annual Leadership and Mentoring Conference. Chiemelie Ezeobi brings excerpts of her thoughts on the power of inclusion, how she navigates obstacles, her love for culture, admiration for WISCAR and of course her take on feminism girl, I was a feminist even without knowing what that word was. I was an observant child, and I knew there were certain things that we were excluded from just because we were women.

I would ask questions about things and activities I was deterred from doing because I was a girl, and it didn’t make any sense to me even at the time. I remember while I was arguing with a friend and I said you can’t just say someone cannot be the governor or president because they are female. The person called me a feminist, which was meant to be an insult.

The truth is that ‘feminist’ is a word that has been so misunderstood and it is easy to make a caricature out of it, but feminism is about equality and justice. It is recognizing that every human being deserves an equal opportunity and we should not exclude people from things they might be good at simply because they are female. We are no longer in a time in human evolution where physical strength is the most important thing, and it no longer makes sense to exclude women.

When I call myself a feminist, it is because I believe that people should have equal opportunities. Of course, we should recognize the fact that we are different but the idea that because you are a girl or woman, therefore, you cannot, I push against it.

You recently attended WISCAR’s 2022 Annual Leadership and Mentoring Conference as the keynote speaker. What did it mean to you to be a part of this year’s edition?

WISCAR woman is an extraordinary person and this was reflected in the welcome I received at the event. It was good and genuine, from the fashion presentation to the lady who sang in the Igbo language; a detailed effort was put in to make me feel honored.

There's something different about being celebrated at home and by women; feeling known and understood means a lot to me. I've come to see that life is about feeling appreciated, seen, known, and understood. WISCAR made me feel all those things, and most importantly, I felt like my parents were honored which meant so much to me.

As the keynote speaker, I was humbled and recognised the significant opportunity to speak to and relate with a community of people committed to women’s leadership and empowerment. I was able to understand and learn from the various experiences of those in attendance as we celebrated the new generation of empowered women that night.

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Looking at WISCAR’s 2022 Conference theme, “For the Nation: the power of inclusion”, what message can you deliver to young girls who feel that society unto whose care they have been entrusted has failed them, unlike the meaning of your name?

For those who don’t know, the name Chimamanda means “My God will never fail me”.

Although, I should clarify that my parents named me Amanda Ngozi Adichie which I thought was a pretty nice name. When I went to the U.S., several people had the same name but hearing the way it sounded with an American accent, made me feel uneasy.

At the time, I had finally gotten an agent who was sending out my manuscript to publishers and thought to myself that this would be the name I would be stuck with. One evening, in my brother’s house, it came to me like a revelation – Chimamanda. It was perfect. I remember leaping off the bed in this state of ecstatic discovery, opening my laptop, and sending my agent an email saying; “please change the name on the manuscript before you send it out.

It’s Chimamanda Ngozi Adichie.”

To young women today, I would say that we must keep pushing. We know that there are obstacles in your path just because you were born female but that is true everywhere.

It might just manifest differently but it is the same, so keep pushing. As Nigerians, we are tough, intelligent, clever, funny, and strong. I feel we shouldn’t forget that rather, we should draw from it and let it be our source of strength.

What is so inspiring is that there is a platform like WISCAR that young women can look up to and see that anything is possible.

Throughout your career, you must have faced a lot of challenges. As a WISCAR, how did you navigate through obstacles you were faced with and how did you overcome them?

One of the things that was important to me and what I would like to tell young women is to think about failure. When you fail at something, make sure you have tried everything possible.

When I started writing, I wrote a very bad poem and sent it to Prime People Magazine which does not publish poems but to my surprise, it was published. It was not until I went to the U.S. that I started doing my homework.

I went to the library and read all I needed to know about publishing and that’s how I started writing short stories. Nevertheless, my stories still got rejected which made me wonder why.

Surprisingly, I got quite a lot of rejection based on my identity rather than the quality of my writing. I was told by an agent that there was no African country in which my writing was about. I was also told that I wrote African words which no one understood and things

Chimamanda people knew nothing about. Because I was passionate, I would get up again and send out more stories to more agents until one lady took me on. I remember she said to me “I will take a chance on you.”. Now I say to myself, what’s the worst that could happen?

You just have to try. That’s how I started.

Culture seems to be important to you, and you know we have a lot of people like you, that have gone abroad, and they lose their culture. How have you been able to uphold that culture?

It hasn't been hard. I love where I come from and that is one reason I refuse to translate any Igbo statement. I am willing to give Igbo lessons to those who come to me. I am always thrilled when somebody walks up to me and says “kedu” because they learned it from one of my books. It reminds me that I am advancing the African culture globally.

On the flip side, I think one of the problems we have as a people and as a continent is that colonialism did something to us mentally.

I think it's hard for people to be in a place where there is a long history of degrading what they are. With that, it becomes easier to push away what they truly are.

My point is, I don't necessarily blame people who for example, go to the US for something and pretend they can't speak Igbo. Speaking the Igbo language and understanding my culture wasn't difficult for me because I'm proud of where I come from and it is important to me.

Also, in many ways, it has benefits for me because I'm reminded of where I come from, and I don't think there's anything more grounding for a person than to have a very clear sense of origin. I know my hometown, I know stories of my great-grandmother who was a fierce woman, and all those things

give me a kind of confidence to be in the world.

What would you tell the Nigerian child? What should we do for both our female and male children?

Do you know what I'll say? I would say that we can not necessarily switch but we can borrow. If we had two bowls that show how I'm raising my daughter and my son, I think we could borrow a bit from the daughter’s bowl and put it in the son’s bowl, and vice versa. I think even the most progressive parents still unconsciously give different messages to their sons and daughters.

I sometimes wonder what if it was borrowed just a bit, by which I mean what if we expected boys to partake in domestic work or be the caretakers when we are sick rather than the girls.

I feel like we can teach girls to do better while at the same time teaching boys to do better.

I think a lot of men are just people who don't know, weren’t told, and weren’t taught. The things they see happening, they continue. I don't believe in raising them the same. I believe that boys and girls are different but deserving of equal opportunities.

A lot of young men and women were asked about Chimamanda Adiche, and their response was in admiration of you, but they frowned at your take on feminism. Please explain what feminism means to you What is quite interesting is that I never set out to be this feminist. All I wanted to do was write and be read. As a little

"I was humbled and recognised the significant opportunity to speak to and relate with a community of people committed to women’s leadership and empowerment.

I was able to understand and learn from the various experiences of those in attendance as we celebrated the new generation of empowered women"

If you want to speak to the world about WISCAR, what would you say?

I would tell them that, if they invite you, come. I would say what I found, witnessed, and encountered. It was a very moving evening. What was most moving and personal was seeing all the women standing on the stage and holding their certificates.

I could see that there was a sort of pride and it moved me. So, I think I would say that WISCAR strongly believes in how important it is for us to become one community that empowers women. I would like to ask every WISCAR woman and every HeForShe to reach out and just tell someone else what it's like so that they can also experience it. It's a beautiful movement.

About Chimamanda Ngozi Adichie Proudly Nigerian and internationally acclaimed writer, Chimamanda Ngozi Adichie, is a highly sought-after speaker that has received numerous awards and academic recognitions from globally renowned universities across the world.

Described in the Times Literary Supplement as “the most prominent” of a procession of critically acclaimed young anglophone authors who is succeeding in attracting a new generation of readers to African literature, Chimamanda’s first novel, Purple Hibiscus (2003), won the Commonwealth Writers’ Prize, and her second novel, Half of a Yellow Sun (2006), won the Orange Prize.

Her 2013 novel Americanah won the US National Book Critics Circle Award and was named one of The New York Times’ Top Ten Best Books of 2013.

She has delivered two landmark TED talks: her 2009 TED Talk “The Danger of a Single Story” and her 2012 TEDx Euston Talk “We Should All Be Feminists”, which re-galvanised worldwide conversations about feminism and was published as a book in 2014.

“Dear Ijeawele”, or a Feminist Manifesto in Fifteen Suggestions, was published in March 2017.

Her most recent work, Notes on Grief, an essay about losing her father, has received critical acclaim.

Recently, she wowed the global community with another groundbreaking achievement as she became the first woman to represent the Dior Lady 95.22 bag.

In October 2022, she became the first African woman to receive the W.E.B Du Bois Medal, Harvard University's highest honour in the field of African and African American studies.

Notably, on December 30, 2022, Adichie became the first woman to receive a chieftaincy title in her home town of Abba, after Igwe Sir L.N Ezeh (Eze-Abba) honoured her with the title: Odeluwa, meaning the one who writes for the world.

27

T H I S D AY ˾ AY, ͷ˜ 2023

#THISISNIGERIA – Rotimi Fawole

The Chronicles of Chill: The Ides of Electoralis

T

he wheels of politicking continued to roll furiously towards the day of electoralis in Jirriah. The contenders for the Iron Throne had all chosen their Hands.

Shiwajun has Cashmoney the Shetty Man of Borry Noo as hi;, Arty Cool has Fan-Yi the King of Deltonia and Obi Wan Pitobi had Soof That Baba as his.

There was a fourth contender – Crank Wazo That Soldier Boy, one time King of Car-Knoe but the people were unsure he had chosen a Hand, as nought was heard of the matter from his camp.

Thus did the contenders traverse the four (or perhaps, six) corners of the Kingdom, seeking to make disciples of all men, women and children. In Social Mediana, the contention and lighting of gas between their supporters was frenetic. “The stench of narcotia ensconces Shiwajun,” one camp would cry, to which the others would respond, “Obi Wan kenno’be King, for he is of wretched structure,” to which others yet would reply, “Arty Cool bathest in the esoteric pools of corroupcion!” Yea, would the acolytes of Crank Wazo observe, wondering why none sought to banter their champion.

Daily, Lastus Boltammo, Gambrach’s junior councillor for enslavement and Shiwajun’s appointed shithouserist, would waltz into Twillistia singing gleefully about the maturation of a certain jungle, and how that would favour Shiwajun. Is he a zoologist or botanist or some sort of mad scientist, the people often wondered. On the Padipalian side, Dinobetes Mellitus had positioned himself as nemesis to Lastus.

The jesterful antics of Dinobetes were already known, so his shithousery was no surprise to anyone.

But indeed, Shiwajun and Artycool were the front runners. However, the Jedi followers of Obi Wan simply would not go away. Daily the Apircueans and Padipalian soothsayers showed them the route to the Iron Throne, exasperated, for they saw no way for Obi Wan Pitobi. “Beware the Ides of Electoralis, for ye shalt be taught lessons,” they warned the Pitobians.

Shiwajun struggled with speech as he sought to proselytise. His sentences frequently disintegrated into babble, despite King Shangolulu’s desertion of Gideria to serve as the Shiwajunian Whisperer. Yea, despite his lips residing in Shiwajun’s cochlea, it saved Shiwajun not. And the unchill began to bubble in the land about the seeming frailty of Shiwajun.

And in that day, Lord Mefilius, Warden of the Iron Bank of Boo Jar, proclaimed an edict across all of Jirriah.

“Citizens of Jirriah, the reign of King Gambrach cannot end without another throwback to his glorious Kingship whilst he was a man of Gunn. Thy borders have been closed, thy petrolatum is scarce, rentiers walk again among us.

Behold! Now is the time for us to repaint our Kingdom’s coin with ultramodern paint. It shall be shiny, it shall be rainbowfull and it shall be the only legal tender in the Kingdom in the 3 weeks leading up to Electoralis.

Long Live the glorious foresight and hindsight of our great King Gambrach!“ And the unchill in the land grew. For in the olden recoinage of Gambrach, there was a huge shortage in the circulatory supply of money. \Not long after, news came to

the Jirrians that the Despotic Squad Squadron (DSS) had declared Mefilius wanted, for financing the fomentation of terror. With the incoming or outgoing money, the people wondered. Yea, like another bankman that was fried, Mefilius sought refuge in a faraway land and no one knew whence he had exiled himself. The people were astounded, for the Dastardly Suffering Squad (one of their many other names) reported to the King himself. Couldst it be that Gambrach sought to reward the devotion of Mefilius with a healthy dose of wahala morghulis?

Gambrach himself put paid to these thoughts by declaring to the people that Mefilius was carrying out his wishes (why then was he ‘ranning’?) and that sufficient time had been given to the upstanding to secure legitimate swapping of outgoing for incoming coin.

And then, in a completely tangential outburst – in the future, when smileys are invented, as prophesied by the Chronicler, a shaded smiling one will be inserted at this point in the manuscript – he declared, “Jirrians shall be free to vote for whomseoever they choose!”

“But Majesty, though art an Apicurean. Surely you mean vote for Shiwajun?”

“Yes! For whomsoever they choose!”

A great rumbling was heard in the land but would you believe it, it was not the unchill of which the Chronicler has long since Chronicled. No. It was a creaking of the firmaments of all the structures in the land. As it turned out, structures had to be reinforced daily with coin. And it could not be

the coin that was routed through the Iron Bank of Boo Jar and its mushrooms, for all the vaults in all the banks in all the land were not large enough to hold it all. And to change all that structures money into the new Gambrachian coin was a project that would take the skill of a meister of the 2 Princes to manage in the short timeframe – and alas, there was only 1 Prince as Gambrach had just the one male offspring (this is a joke of the Chronicler, by the way – hehehe).

Wherefore Shiwajun went again to the Kingdom of King Dah-Poe the Abjectly Common One to speak again to the people in High Yorballian. Dah-Poe was still basking in the euphoria of his audio award from the Fugazi Orbs as overall best in Kingship in FreeKah, so he received Shiwajun in High Spirits.

Shiwajun was more sullen than usual and cried out in High Yorballian – “Why do the heathens rage and the people imagine a vain thing? The rulers of Jirriah, my fellow Apicureans no less, have set themselves and taken counsel against me, the Shiwajun of all Yorballian Lands. They have sought to break my bands asunder, ground all our chariots and are attempting to cast the coin away from me. Well, let me declare this here and now – I, who sit in the heavens of Bored Dyllon will laugh. I will have them in derision. For regardless of what they do, I shall be set as thy King upon the holy hill of Bedrock, in Boo Jar!” The people saw it, the people heard it. And there was no gaddem chill in the land!

- Rotimi Fawole is a Lawyer and Satirist.

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THURSDAY FEBRUARY 9, 2023 •T H I S D AY

T H I S D AY ˾ THURSDAY, FEBRUARY 9, 2023

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BUSINESSWORLD R A T E S MONEY MARKET

A S

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

08056356325

F E B R U A R Y

S & P INDEX

8 , 2 0 2 3

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EXCHANGE RATE

OPR

11.25%

CALL

10.25%

INDEX LEVEL

613.31%

1/4 TO DATE

-0.85%

N416.86/ 1 US DOLLAR*

OVERNIGHT

11.50%

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9.56%

1-DAY

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YEAR TO DATE

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Nigeria’s Domain Name Maintains Steady Growth, Reached 183,792 in December 2022

Emma Okonji The latest statistics released by the Nigeria Internet Registration Association (NiRA), the body responsible for managing Nigeria’s country code Top Level Domain (ccTLD), showed a steady growth in Nigeria’s .ng domain name registration and usage in the last seven months of 2022.

The statistics, which THISDAY obtained from the official website of NiRA, showed that .ng domain name registration, renewal

and restoration, grew from 178,813 in June to 183,792 in December 2022.

In July 2022, the figure grew to 180,162 and in September same year, it increased to 181,275. In November 2022, the figure increased again to 183,169, before it reached 183,792 in December 2022.

According to the statistics, the total registration, renewal and restoration of .ng domain name was 181,983 in October 2022, but the figure increased in November to reach 183,169, with a further increase to

183,792 in December 2022.

The increase in figure came from the active 2nd level domain name users, which rose from 78,704 in October to 81,607 in November, before rising again to 84,329 in December 2022.

From the statistics, fresh registration of .ng domain name in October was 6,388, renewal was 4,773, while restoration was 95. In November, fresh registration of .ng domain name was 6,177, renewal was 4,861, while restoration was 101. In

December, fresh registration of .ng domain name dropped to 6,102, renewal also dropped to 4,349, while restoration increased to 132.

The ccTLD .ng domain name is Nigeria’s identity in cyberspace, which has the .ng at the suffix of every official email address that originates from Nigeria. In the United Kingdom, all official email addresses end with .co.uk, in United States of America, they end with .com, while in South Africa, official email addresses end with .co.za.

In Nigeria, NiRA has carried out several campaigns to sensitise Nigerians on the need to populate .ng domain name.

Reacting to the increased number of active .ng domain name users in the last seven months of 2022, the President of NiRA, Mr. Mohammed Rudman, told THISDAY that Nigerians were beginning to understand the need to identify with .ng domain name for every online transaction and communication.

In his 2023 message to Nigerians, Rudman said:

“The year 2023 has started well for us at the .ng registry.

NiRA was recognised for its contributions to the growth of the internet with an award from the National Association of Computing Students (NACOS).

In 2022, the Executive Board of NiRA dropped the cost of Premium Domains, making them more accessible to individuals and businesses that were innovative in their approach to their Continued on page 31

Cotton Farmers Urge CBN to Sustain Anchor Borrowers’ Programme James Emejo in Abuja The National Cotton Association of Nigeria (NACOTAN) has urged the federal government to continue with the Anchor Borrowers Programme (ABP) particularly in cotton farming in order to sustain the gains so far achieved in the sector.

The association maintained that the sudden stoppage of the ABP in the cotton segment after two years of intervention had created problems of

continuity.

The group stated this in a communiqué issued at the end of its maiden Nigeria International Cotton Summit and Expo 2023.

However, NACOTAN on its part committed to pursuing the recoveries of loans given to cotton farmers under the ABP. The farmers also urged the CBN to fine-tune the cotton programme to run for at least five years in order realise the full impact of the intervention.

The association further stressed the need to pay the outstanding balance of input suppliers and service providers who executed their contracts fully but whose payments have been put on hold since 2020.

The communiqué, which was signed by NACOTAN Director, Administration, Mr. Ado Sule and Conference Organizing Committee, Mr. Felix Egbamuno, further committed to urgently sensitize the military and paramilitary on the need to patronize the

Cotton, Textile, and Garment (CTG) sector in their sourcing of fabrics, uniforms, and blankets for soldiers and prisoners.

It stated that the revamp of the CTG sector was significantly hinged on reducing smuggling at the country’s borders, adding that the government must provide more aggressive control at the borders by setting up an anti-smuggling task force at all border points.

Among other things, the

association stressed that the federal and state governments must as a matter of urgency, eliminate multiple taxations on CTG industries and products.

The communiqué added, “NACOTAN must as a matter of urgency, establish a working relationship (through the Malian Ambassador in Nigeria) with the Government of Mali by means of a Memorandum of Understanding (MoU), on cotton farming best practices.

“NACOTAN should follow up on the Indian High

Commissioner’s offer of training and re-training on cotton farming.

“NACOTAN must ensure that cotton farming in Nigeria is ‘rebranded’ to become competitive and therefore attractive, especially to the teeming youths of our nation.

“NACOTAN must join the follow-up effort of the initiative to establish a bilateral agreement between Nigeria and India that allows both countries to pay for goods of trade with their respective currencies.”

M A R K E T D ATA A S AT W E D N E S D AY, F E B R U A R Y 8 , 2 0 2 3 BONDS DESCRIPTION Price ^14.20 14MAR-2024 ^13.53 23MAR-2025 ^12.50 22JAN-2026 ^16.2884 17MAR-2027 ^13.98 23FEB-2028

10.362, 00 10.459, 00 10.287, 00 11.168, 00 10.386, 00

Yield 10.82 11.11 11.35 12.60 12.92

Change Updated Time (%) -0.01 January 6, 2023 -0.71 January 6, 2023 0.00 January 6, 2023 0.00 January 6, 2023 0.00 January 6, 2023

BILLS MATURITY

Discount

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NTB 26-Jan23 NTB 9-Feb23 NTB 9-Mar23 NTB 27-Apr23

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NTB 11May-23

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CPS

Change Updated Time (%) 6, -0.01 January 2023 6, 0.00 January 2023 6, -1.71 January 2023 6, 0.00 January 2023 6, 0.00 January 2023

MATURITY FDHP CP III 17-MAR-23 VHPL CP III 1-APR-23 MREP CP VI 11-APR-23

Change Updated Time (%) 6, 9.26 9.43 0.00 January 2023 6, 14.15 14.64 0.00 January 2023 6, 10.52 10.81 -0.01 January 2023

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CONTRACT TENOR Contract (MONTH) NGUS JAN 25 1 2023 NGUS FEB 22 2 2023 NGUS MAR 29 3 2023 NGUS APR 26 4 2023 NGUS MAY 31 5 2023

Current Rate Updated Time ($/₦) January 6, 469.87 2023 January 6, 472.05 2023 January 6, 474.23 2023 January 6, 476.42 2023 January 6, 478.60 2023

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THURSDAY, FEBRUARY 9, ͰͮͰͱ ˾ T H I S D AY

BUSINESSWORLD

E-BUSINESS

Nigeria and Danger of Global Tech Layoffs With layoffs by giant tech companies reaching alarming proportion, there are fears that the trend may soon hit Nigeria. This reality in addition to Nigeria 32 per cent unemployment figure should concern whoever emerges president of Nigeria in forthcoming election, writes Nosa Alekhuogie

T

he tons of quick spins of global tech giants laying off their workforce, spills a worrisome reality on the face of job security and the viability of the global tech industry.

With the global numbers of laid-off workers reaching about 75,000 plus in January alone, this global concern is set for critical preparedness in emerging tech industries like that of Africa and Nigeria to be precise. It is crucial to ascertain the degree of impact the rallying layoff trend will have on the Nigerian tech space when it eventually arrives.

There is certainly no room for extended debates about whether or not tech startups or organisations in Nigeria are being hit by the current situation. We can trace this back to 2022 when we saw several Nigeria startups jump on the layoff spin to save themselves but in 2023, experts anticipate more layoffs if the right person is not voted as the president of Nigeria in the forthcoming general elections. If the right policies and regulations are not stamped, the intensity of what will hit the Nigerian tech space will be more than crippling. It is based on this that this review will be looking at the tech enabling pointers from the documents of the three major contenders for the 2023 Nigerian Presidential Seat – Peter Obi, Bola Ahmed Tinubu and Atiku Abubakar.

NIGERIA TECH SPACE Former governor of Anambra State and the Labour Party presidential candidate, Peter Obi, sometime last year released his 72 paged manifesto titled ‘It is Possible: Our Pact with Nigerians.’ In this document, he detailed his focus for the technology sector and stressed that his government would take to exploring the tech in confronting terrorism, up-skilling young Nigerians, and expanding the Science, Technology, Engineering, and Mathematics (STEM) fields. In his drive to transition the country into a production economy, he stated that he would leap Nigeria into the 4th Industrial Revolution (4IR) through massive adoption in of tech in education, transportation, agriculture, clean energy, and public-private industrial engagements. He was also quick to mention that technology will be infused into the public policy sector which will help drive economic and social development. Obi also proposed the idea of having a national broadband as well as e-commerce map which he intends to explore in addressing the wider technological reach for young people.

Despite Obi’s articulated intentions for the Nigerian people, he still doesn’t address the core issues underling the Nigerian tech space.

What is visible are his substantive plans to infuse technology into the system and not to drive it as a running industry. To drive a system or an industry, such plans need to be guided and empowered by regulations and policies many of which Obi’s manifesto seemingly shy away from. A typical example as cited in his 72-page document, was his silence on how to increase internet access, digital inclusion, and data protection through a wholesome approach to innovations – foreign or home grown.

He failed to talk about the Nigerian Startup Bill and also, talk expressly about his plans for Intellectual Property of innovators who are going to be the star players in his consumer-toproduction transformational goal. It is important to also slice it in that Obi has refused to trend along the global tech space technologies, which are Artificial Intelligence, Blockchain, Cryptocurrency, and Extended realities. Rather what we see him do is to indirectly infuse this in his idea of technology, which is typical of what the present government did when they were campaigning in 2015.

SAVAGING NIGERIA TECH SPACE In his 80-page manifesto titled, “Renewed Hope”, Bola Ahmed Tinubu, the All-Progressives Congress (APC) presidential candidate, seems to have an elaborate plan for the Nigerian tech industry, regarding his commitment to adopting technology as a tool to tackle infrastructural, economic, and social developmental needs.

For him, with technology the country can effectively combat insecurity, multiplicity of roles, poor irrigation systems, moribund tax systems, agriculture lags, educational slags,

pipeline vandalism and others. He also stated that he would develop tech hubs and parks, which will drive increase interest of accelerators and angel investors within the space. Tinubu, being aware of the role of blockchain, mentioned that he will drive favourable policies for wider adoption of blockchain in finance, identity management, and revenue collection. He hinted that he would continue the eNaira idea and increase scholarship schemes for girls in tech.

It is easy for Nigerians to be swayed by the articulation of Tinubu’s manifesto for the Nigerian tech Industry, but it is crucial that we see look at this objectively. A lot of his intentions are not any different from what we received from past governments, in fact, what we see is a doctored manifesto that seems to address superficial issues around the Nigerian tech space.

For instance, he proposed one million tech jobs in the first two years of his administration, which is typical of the promises we have had in the past. In his manifesto, there is no clear provision for strategies by which many of his intentions will be achieved. As regards his comment on Intellectual Property, what Nigerians see is a dumped idea of reviewing legislative framework for copyright and intellectual property but what happens to him stating his implementation model expressly? On his blockchain touchpoint, it is obvious that what he did was to win over young people while denying them his full interpretation of blockchain – which a system that will only be usable by the government and not general techpreneurs. This is seen in his careful mention of crypto as an asset as opposed to it being a currency. That is, there is a foreseeable threat to crypto startups in Nigeria when he eventually wins the elections and as such startups with this business should begin to prepare ahead. In a concise approach, it is objective to state that what Tinubu is bringing on board is no newer to the system we already have.

INVESTING IN TECH For Atiku Abubakar, a one-time vice president and the current presidential candidate for People’s Democratic Party (PDP), in his 115-page manifesto titled, “A Covenant with Nigerians”, there will be a holistic approach to drive educational, economic, and infrastructural structures hung on technology and innovations. To him, this is going to be a means to further continue the injection of technology in other economic sectors. Like his counterparts, he seemingly sees technology as the best way to address insecurity needs which will increase ICT related investments.

Regarding technology adoption, Atiku

pressed in on promoting research in local science and technology through his establishment of a National Research and Innovation Fund which will have specified funding advantages for employer-based training schemes, trainers- support schemes, and grants for tech related ideas. His interest also stretched into training and empowerment in critical tech areas like renewable energy, solar and wind technologies, nanotech, and Artificial Intelligence.

Unlike others, Atiku spreads his wings into policies merger wherein he talked about compacting regulatory bodies to reduce redundant structures. In his manifesto he intends for the Trade, and Investment to embody the Trademarks, Patents, and Designs Registry (TPDR), National Office for Technology Acquisition and Promotion (NOTAP), and Nigerian Copyright Commission (NCC) to be merged into an agency concerned with Intellectual Property Rights. He also proposed the creation of a Technology Support Program (TSP) that will be funded by a Diaspora Bond.

This he hopes will produce an expansive blockchain technology and crypto policy with an income generative focus for Nigeria.

In this manifesto is another wild articulation of hopes that are like what we have experienced as a country in the past. This is because most of the proposal bench on surface ideas and for the few that held the Nigerian industry interest, it is quick to say that they lack sufficient details on implementation. For example, the merge idea of multiple agencies will further increase bureaucracy for tech startups and innovators in Nigeria as the Intellectual Property agency will run a monopoly kind of system that will further worsen what the industry is presently contending with. It is also observable that popular campaigns on infrastructural development are far-fetched in the political quarters. For Atiku, the standout idea is that of him recognising the blockchain potential, his acceptability of its monetary and generative power for the country and the people of Nigeria. This will go a long way in easing tensions around whether the ban on cryptocurrency will be lifted as these forms a part of the system.

WHY NIGERIANS SHOULD BE CONCERNED It is practical to state that most of the manifestos of these major aspirants have not clearly devised a strong and cushioning strategy for Nigerian tech players. This is because many of the listed ideas have still not dug deep into the protective corners of what facilitates a healthy tech industry both for techpreneurs and tech talents in the country.

Also, none of the aspirants clearly outlined policies and implementations to safeguard local and foreign investors instead what we find is them pushing the absorption model of winning over investors into the country. Aside from Obi who clearly gives a foreseeable hope in terms of his consumption-to-production economic strategy, what other aspirants are bringing on board are recycled ideas typical of the present government and this in no way is sufficient for techpreneurs to continue holding on to their staff.

It is also important to state that inflation and interest rates are principal drivers of the layoffs globally but even in the abrupt manifestos presented, many of which touched on these skeletally, there is no assured hope that going forward the investment ropes will be firmer for tech companies in the countries. This is because investors want to be sure of the generative potentials of their investments as well as they are concerned about the lifespan of running businesses in Nigeria. It is not enough for bills to be reviewed, what tech startups are asking for daily are policies that empower them to create and grow.

It is also alarming to identify that despite the dreamy manifestoes pushed forward by these presidential aspirants, none of them arrived at the point of up-scaling technology as a core economic diver in this present age. They all mentioned that they would infuse tech into almost all the sectors, but this infusion is a secondary motive – meaning, tech will be a secondary idea to drive the economy. This is not what is printable in other parts of the world where there are economic stability of some sort. Rather what is experienced in most of these thriving nations is the localisation of technology to advance productivity, innovation, and economic stability. If all of these are not factored into the reality of these coming rulers, what then will safeguard the tech companies when the economic realities begin to choke them the same way it is choking the big tech players like Amazon, Google, Alphabet, and others.

It therefore remains unarguable that the Nigerian tech industry will someday be hit with her share of the revolving recession. It is safe to say that even with the presidential aspirants contending for the number one seat in the country, we are only as safe as much as we can be because none of these aspirants has holistically mapped out a blueprint of maximum safety for the industry. The knowledge that the Nigeria tech industry is an emerging one also reduces the pressure on us because presently the country and the continent of Africa – seem to have the future market for technology in the coming years due to her ownership of the youngest population in the world. If this is true, techpreneurs are to consistently live within their business means while scouting aggressively for continuous growth.

T H I S D AY ˾ THURSDAY, FEBRUARY 9, 2023

31

BUSINESSWORLD

DEVELOPMENT

Examining Global Report on Human Trafficking The recently launched global report on trafficking in persons has revealed that for the first time, the number of victims detected globally decreased by 11 per cent, a reduction that is largely driven by low and medium-low-income countries, writes Ugo Aliogo

R

ecently the United Nations Office on Drug and Crime (UNODC) launched its 2022 Global Report on Trafficking in persons, which is the sixth of its kind mandated by the United Nations General Assembly in its Global Plan of Action to combat trafficking in Persons. It covers 141 countries and provided an overview of patterns and flows of trafficking in persons at global, regional, and national levels, based on trafficking cases detected between 2017 and 2021.

The Report draws upon the largest existing dataset on trafficking in persons, with information on the more than 450,000 victims and 300,000 suspected offenders detected worldwide between 2003 and 2021 while noting the role of organised crime groups as the engine behind long-distance trafficking.

UNODC in the report noted that for the first time, the number of victims detected globally decreased by 11 per cent, adding that the reduction is largely driven by low- and medium-low-income countries and due to lower institutional capacity to detect victims, fewer opportunities for traffickers to operate and some trafficking forms moving to more hidden locations less likely to be detected.

The report added that despite these factors, some regions such as western and southern Europe, Eastern Europe and Central Asia, Central and South-Eastern Europe, as well as North America, recorded an increase in detection.

NAPTIP’S POSITION

In Nigeria, the National Agency for the Prohibition of Trafficking in Persons (NAPTIP) statistics shows that 1076 cases of trafficking in persons recorded in 2018 against 1032 cases in 2020.

The report explained that COVID-19 had an important impact on trafficking flows, while noting that in sub-Saharan Africa, border closures and travel restrictions led to a 36 per cent drop in cross-border trafficking victims detected between 2019 and 2020.

It hinted that detected domestic trafficking victims increased by 24 per cent over the same period.

It further explained that the COVID-19 pandemic also accelerated a global slowdown in convictions, adding that a 27 per cent reduction in convictions was recorded globally in 2020 and sub-Saharan Africa experienced a six per cent drop in its conviction rate in 2020 compared to 2019, the observation is less pronounced in Nigeria.

The report remarked that aalthough there was a decrease in the number of persons brought into formal contact with the police and/or criminal justice system for TIP-related affairs (823 persons in 2018 compared to 701 in 2019 and 733 in 2020) as well as in the numbers of persons prosecuted (113 in 2017 versus 87 in 2020), the number of persons convicted of trafficking in persons very slightly increased with 50 convictions in 2018 and 51 convictions in 2020.

According to the report, “There was however a big drop in 2019 with only 25 convictions recorded in Nigeria for that year. Although countries in Sub-Saharan Africa and South Asia are convicting fewer traffickers and detecting fewer victims compared to the rest of the world, those regions provide a significant and increasing share of the victims identified in countries of exploitation.

“In 2020, according to NAPTIP, the main countries from which Nigerian victims were repatriated include Benin, Lebanon, Oman, Mali, and Togo. Most victims detected in sub-Saharan Africa are either citizen of the country of detection or citizens of other SubSaharan countries. However, the flows from sub-Saharan Africa are far more varied and extensive. Victims from sub-Saharan Africa are detected in the largest number of countries globally. Of the flows, most trafficked outside the region are detected in countries in North

Africa, the Middle East, and in Europe.

“The report noted that in 2020 the population of boys and men being trafficked for different purposes recorded a slightly significant increase to a total of 13 per cent and 23 per cent respectively as opposed to 3 per cent and 13 per cent in the previous years. Meanwhile, the share of women as detected victims of all forms of trafficking continued to fall (a decline of 10 percent in one year) along with drastically fewer victims of trafficking for sexual exploitation.

For the first time, trafficking for labour is slightly more detected than trafficking for sexual exploitation globally.

Although in Nigeria, NAPTIP data shows that sexual exploitation remains the first form of exploitation with 460 cases against 279 cases recorded for forced labour. NAPTIP statistics show a reduction in the number of detected female victims throughout the years: 961 in 2018, 929 in 2019, and 868 in 2020. Even so, in sub-Saharan Africa, girls and women together still make up the largest share of victims, accounting for 62 per cent of the total and more children than adults (especially girls) continue to be detected as victims.

“Female victims are also three times more likely to suffer violent forms of trafficking. An increased proportion of victims of mixed forms of exploitation (for example both women and men forced to work as maids and for other purposes), was equally underlined in the report.

EXPERT VIEWPOINT

To put the discourse in proper context, THISDAY spoke to the Country Director, Plan International Nigeria, Mr. Usie Charles Emmamuzou, who stated that the rise in human trafficking in Nigeria could be blamed on a number of factors in spite of effort to eliminate it, such as rising poverty, victim shaming, culture of silence which still pervades the society and regrettably slow prosecution and judicial processes.

He stated that NAPTIP should remain a priority for the government in terms of allocation of resources to enable the agency scale up its operations significantly.

He also noted that government and other stakeholders including the Civil Society Organisations (CSOs) can do better, and there is need to prioritise this more, while adding that people are still being trafficked

on daily basis with young girls and women being the worst hit, “a 2019 study indicates that 94 per cent of trafficked persons were women or girls.”

Emmamuzou revealed that according to the International Organisation for Migration’s (IOM) Global Victim of Trafficking Database (VOTD), which was published by Plan International, victims from Nigeria constituted 94 per cent women.

He remarked that over half of these women and girls representing 51 per cent, were 24 years old or younger at the time of registration, and eight per cent were under 18, stating that for the women and girls with data available, 85 percent of them were trafficked for the purpose of sexual exploitation.

He espoused that for the women and girls, 85 per cent of them were trafficked for the purpose of sexual exploitation, therefore called for protection of girls by all legitimate means, and perpetuators of trafficking should be punished according to the provisions of the law; that is the only way to establish deterrence for would-be offenders.

MOTIVATION

Emmamuzo posited that perpetuators abuse and exploit their victims, sexually, emotionally and physically for financial gains, noting that this is an abuse on human dignity and slavery in the 21st century because the trauma lives with the victims for the rest of their lives.

He shares a shocking revelation that many victims also fall to the antics of traffickers out of ignorance and unbridled quest for quick money-search for greener pastures, noting that they do this with the lure that in the end, they are scammed and trapped.

He added that every human-girls and boys; women and men all deserve to live in freedom and in dignity.

According to him, “The best form of defense they say is attack. Therefore, all the conditions that make it possible for people to traffic their fellow humans must be removed. It will be easier and cheaper to do so rather than reacting after the action has been committed. That said, the agency should invest more resources in the rehabilitation of victims, including those repatriated. Centers of excellence where victims are rehabilitated should be set up

to enable them (victims) return to normal life.

This will help a lot. Also, perpetuators should be tried in court expeditiously. The list of awaiting trials in Nigerian courts is regrettable. The government can set up special court for this purpose to try suspect and dispense justice.

This will go a long way to serve as deterrence to would be offenders.

“The agency should also shore up enlightenment campaign in partnership with the civil society and other relevant government agencies to educate the general public especially parents and young people on ways to avoid being victims of trafficking.

Job creation, security and enabling environment powered by the government will also help reduce people’s quest to migrate.

Once people know that the green pasture is here, there certainly will be no need searching for it elsewhere.”

BLAME FOR TRAFFICKING

The argument is that everyone has got a share of blame, so nobody is exempted. There was a period in Nigeria that was referred as the good old days, where parents were disciplinarians, training their children in a way that the society should be better for it.

No child would come home with a flashy car without any known source of legitimate income. The family unit must therefore take a hard knock for not seemingly providing the right guidance for their wards.

The Plan International Nigeria, Country Director revealed that greed has generally increased among the old and young just as the social economic climate of the country has taken a dive, pointing out the population has grown exponentially, and the governments have failed to provide the required matching infrastructure for this young population.

He added that the pressure in the system is pushing every fiber of the nation’s wellbeing which is reflecting on the level of human trafficking, all the three entities-individuals, parents (families) and government need to be upfront and work in unison for a saner society.

Continuing, he said: “The NAPTIP said it recorded 79 convictions in 2022, the highest in a single year, since it was established in 2003. But there had also been an increase in the reportage of human trafficking across and violence against persons in Nigeria. That is a great leap forward and we hope that government will give more priority through investment and budgetary allocation to stem the tide of human trafficking.”

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32 T H I S D AY WEDNESDAY FEBRUARY 9, 2023 TR

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& RE A S O

Thursday February 9, 2023 Vol 27. No 10163

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opinion@thisdaylive.com

www.thisdaylive.com

ÒRÌ‫܇‬À BÍ O LE GBÈ MÍ…

OLUSEGUN ADENIYI canvasses a quick solution to the scarcity of the naira

1

The policy is for the public good, argues JACKSON OLALI

EMEFIELE AND THE NEW NAIRA POLICY

See page 33

WHEN BIG BROTHER IS UNACCOUNTABLE There is need for an accountant-general of the federation as distinct from the accountant-general of the federal government, contends JOSEF OMOROTIONMWAN

See page 33

EDITORIAL

DEATH FROM UNLATCHEDCONTAINERS

34

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T H I S D AY

333

WEDNESDAY FEBRUARY 9, 2023

OLUSEGUN ADENIYI canvasses a quick solution to the scarcity of the naira

ÒRÌ‫܇‬À BÍ O LE GBÈ MÍ…

Continued from the backpage Three years ago, I had an interesting conversation with a top northern politician in the APC. I told him that from my reading of the president, he is someone who “could walk away from power” without showing interest in who succeeds him. “Where does that happen? Walk away from power at the highest level of government?”, the politician retorted. “I can tell you authoritatively that President Buhari is very much interested in who succeeds him.”

When the APC presidential nomination drama started last year and President Buhari met with the party’s governors asking that he be allowed to pick his successor, the man called to remind me of what he said three years ago, and I agreed he was right.

“In keeping with the established internal policies of the party and as we approach the convention in a few days, therefore, I wish to solicit the reciprocity and support of the Governors and other stakeholders in SLFNLQJ P\ VXFFHVVRU ZKR ZRXOG Á\ WKH ÁDJ RI RXU SDUW\ IRU HOHFWLRQ LQWR WKH R΀FH of the President of the Federal Republic of Nigeria in 2023,” the president told the APC governors in his address read at the meeting held on 31st May last year. And perhaps for emphasis, he reiterated: “We gave governors re-election tickets or opportunity to pick their successors; allow me pick my successor.”

Although there were suggestions at the time that the speech was out of character for Buhari and that the idea was probably conceived by power mongers who wanted to use him, I conceded to the APC top notch who told me the president would be interested in who succeeds him that he knew what he was talking about. Four days ago, this same man called me to say: “Segun, you were right about our man. You said he would walk away from Aso Rock without a care about his successor. That is precisely what he is doing right now. He is literally walking away from power without any interest about what happens after him.”

A leader uninterested in who succeeds him is not necessarily a bad idea. Especially in a milieu where politicians plot succession not to advance the public good but to feather private interest. But the danger, especially in our kind of environment, is that characters around such a leader could become undertakers for all manner of subversive schemes while pretending to be serving his interest. We saw that on the eve of the APC primaries when members of an amorphous group sat and decided that the senate president, Ahmad Lawan was the ‘consensus’ presidential candidate. This was after Buhari had publicly repudiated his earlier plea to be allowed to nominate his successor. %ULHÀQJ WKH PHGLD RQ WK -XQH ODVW \HDU WKH APC national organising secretary, Sulaiman Argungu said the party’s national chairman, Abdullahi Adamu, had announced Lawan as the consensus decision during the national ZRUNLQJ FRPPLWWHH 1:& PHHWLQJ KHOG that morning. This was just 24 hours to their national convention. Had the APC Governors not come out forcefully to challenge that planned imposition by a shadowy group who operate in the name of the president, Lawan would have been foisted on the APC as the ‘consensus’ presidential candidate.

From what the Kaduna State Governor, Nasir el-Rufai has been saying, it is the same SHRSOH ZKR WULHG DQG IDLOHG WR XQGHUPLQH the APC presidential nomination process that are now plotting to subvert the coming

general election, in pursuit of another sinister agenda.

While there is nothing to suggest that President Buhari is interested in staying EH\RQG WK 0D\ WKHVH GHVSHUDWH PHQ QR VLJQ WKDW DQ\ ZRPDQ LV DPRQJ WKHP EHQHÀW immensely from his stewardship. Those LQÁXHQFH SHGGOHUV ZKR KDYH DGYDQWDJHG themselves at our expense are the dangerous people to watch out for. With the judiciary already being dragged in to give black market orders, those who say we have entered the 1993 road to June 12 may also QRW EH IDU RͿ WKH PDUN ,W LV SUHFLVHO\ IRU WKLV reason that a quick solution must be found for the scarcity of Naira notes.

Before I conclude, let me also lend a word of caution to those who forget that regardless of whether their presidential candidate wins or loses, life will not end on February 25.

Partisanship has reached such an abnormal level that if anybody asks you, ‘Who do you think will win?’, it is not an honest question.

They are asking you to validate the person they want to win. And if your response is not in tandem with their expectation, you could become an enemy. For that reason, I have decided to keep my own counsel while waiting for the election to come and go. I am also not investing any emotion in the outcome of the poll because whoever wins, the challenges ahead are quite enormous.

However, in crucial elections, every citizen has a right to choose whoever they want. The people can also disagree on those choices without being disagreeable with one another. Daniel Darling, author of ‘A Way With Words’, admonishes that we should always strive to ensure that an election or politics do not get between us and our most important relationships, even if we have strong disagreements with people around us.

“This doesn’t mean we don’t speak out; this doesn’t mean we don’t have opinions; this doesn’t mean we don’t stand up for what’s right. But we do it in a way that honors the people around us.”

To return to the issue of the day, those who conceive or imagine the idea of interim government seek to impose arbitrary rules on our country. That these dark forces are said to be around President Buhari is why we should all be concerned. And these grave allegations are not coming from members of the opposition but rather the top echelon of the ruling party. More worrisome is that insisting on the continuation of a controversial Naira redesign policy has only compounded the woes of the people. We risk civil disorder at a very delicate period.

Yesterday, the Supreme Court gave the president and CBN a lifeline to retreat from a policy that is evidently not working as planned. The Council of State meeting scheduled for tomorrow is now very crucial.

Whatever may have been the intended EHQHÀWV WKH FRVW RI WKLV &%1 SROLF\ LQ KXPDQ and material terms is becoming increasingly GL΀FXOW WR MXVWLI\ 6RPHWKLQJ PXVW JLYH DQG very quickly too. $OO VDLG , EHOLHYH WKH <RUXED DGDJH ´ÓUuʫj bí o le gbè mí, se mí bi o se ba mí,” will serve the president. Incidentally, without knowing it, Abati spoke to this same adage in the last line of his column on Tuesday, and I adopt his proposition: “The minimum that President Buhari is obliged to do is to leave this country as he met it - a civilian democracy, even if badly wounded.”

Enough said!

Adeniyi is Chairman, THISDAY Editorial Board

There is need for an accountant-general of the federation as distinct from the accountantgeneral of the federal government, contends JOSEF OMOROTIONMWAN

WHEN BIG BROTHER IS UNACCOUNTABLE Man is basically hedonistic - he seeks pleasure and avoids pain. That partly explains why he remains in his original state where RQO\ WKH ÀWWHVW FRQWLQXH WR VXUYLYH ,Q WKH process, the strong trample on the weak at will; even without intending to do so.

We are amazed each time we hear people say that the state government sits on the allocation of their local governments. We wonder where the federal government derives the moral authority to deal with the state governments when the same federal government exists pilfering, sometimes outrightly stealing funds from the sub nationals. Look at what the federal government is doing with the Illegal Excess Crude Account. That account has

UHPDLQHG LOOHJDO VLQFH LW ZDV VR GHÀQHG E\ WKH Supreme Court of the land. In obedience to the requirements of the country’s constitution, which wants government to build its annual budget around all available revenue, the Supreme Court found that there was no need for the Excess Crude Account. It ordered that the Excess Crude Account be closed forthwith and the balance transferred to the Federation Account.

The federal government would have none of that. In its usual characteristic of picking and choosing which laws and court orders to obey and which to disobey, the federal government has since pushed the order on the Excess Crude Account aside. Whereas the Excess Crude Account is for all the federating units, the federal government has been sitting on it as a sole administrator - using the account for slush funds of all sorts. Once in a while, the federal government pulls out humongous amounts from the account to appease Cattle and Goat Rearers Associations. The federal government has so much to eat, steal and throw around while the states and local governments live in abject poverty, no thanks to our skewed federalism.

For all the Joint Accounts, the federal government is the bookkeeper and the treasurer. The balance of each account is what the federal government says it is.

For each tier of government, it is simply another day, another scandal. The federal government keeps cheating on the state government; and in turn, the state governments pounce on the local governments and in the main, most of the state governments have eaten the locals out of existence.

In all this, the ruralites are the worst for it.

Recently the Minister of State, Budget and National Planning, Clement Agba, went on air and announced that the dwarfed development of the rural areas is because the states are taking the money meant for the development of those rural areas.

The minister was right but it still seemed like catching the story halfway. A man who had the courage to say what the state governments were doing to their local governments should have completed the circle by saying what the federal government was doing to its states.

The most recent entry on this cheating page came when the federal government called the governors of the Niger Delta Oil producing

areas and quietly released to them a backlog of the 13 percent derivation that has accrued to them over a long time.

To the governors, it was a windfall. Some put their cheques into their chest-pockets and pretended that nothing happened.

Some ‘swallowed’ their own and cleaned their mouths. Nothing happened!

But one of them, the governor of Rivers State, Nyesom Wike, felt, in all conscience, the truth must be told. Before people might begin to wonder if he was printing money to be executing the projects he was commissioning all over Rivers State, he announced to the world that a good part of the money spent on projects came from President Muhammadu Buhari who has graciously released the fund accruing from the 13 percent derivation to Oil Producing States.

The bubble has now burst! Other governors are now scampering around, trying to gather old receipts showing that some projects completed some 20 years ago were executed from Buhari’s recent release! Wahala goes to town. That, however, is not our concern here.

Our concern is that the President, the federal government, and state governors are all guilty as charged. The 1999 Constitution of the Federal Republic of Nigeria stipulates that no money can be spent outside the Consolidated Revenue Fund of the Federation or the State. You cannot catch any money halfway and begin to spend it. For every debit, there must be a corresponding credit. Any revenue and expenditure that takes place after the Appropriation Act for that Financial Year has been passed, must be captured within the context of Supplementary Appropriations.

We have maintained, perhaps with monotonous regularity, that there is a mistaken impression that states go to Abuja every month to get money from the federal government. Nothing could be more wrong.

By unanimous consent, the federating units agreed long ago that in the course of the month, all the revenue accruing to the Federation should be kept in a common pool known as the Federation Account.

This money does not belong to the federal government alone. Rather it belongs to the Family known as the federating units - the federal government, the state government, the local governments, and the Federal Capital Territory, Abuja. At best, the federal government is only the eldest brother in this Union. It is the amount in this account that they go to Abuja to share every month.

All the same, it is still a capital error to leave the Federation Account in the hands of one member of the federating unit in-charge of the account. The person now called the Accountant-General of the Federation is actually the AccountantGeneral of the federal government.

In other climes, each state and the federal government has an Accountant-General.

In addition, there is a General Accounting 2΀FH *$2 ZLWK DQ $FFRXQWDQW *HQHUDO of the Federation. There is no escaping the inevitable conclusion that we now need an accountant-general of the federation as distinct from the accountant-general of the federal government.

Much as this is a bitter pill to the federal government, it remains the only way to end the present rumble in the jungle!

Omorotionmwan writes from Canada

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T H I S D AY

THURSDAY FEBRUARY 9, 2023

EDITORIAL

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

DEATH FROM UNLATCHED-CONTAINERS The regulators should be up to their responsibility

T

he Lagos State Governor, Babajide SanwoOlu may have ordered the prosecution of the driver and owner of the truck involved in the recent Ojuelegba bridge accident which claimed nine lives. But that does not answer the question of why there seems to be no solution to this recurring tragedy. The statement that the “state government has ]HUR WROHUDQFH IRU ODUJH FRQWDLQHUV WKDW IDOO RͿ WUXFNV and injure or kill citizens, who are going about their lawful businesses,” also sounds hollow. Although the state Information Commissioner, Gbenga Omotosho, has reeled out the names of people who had been convicted for such RͿHQFHV LQ WKH SDVW directive to the ministry of transportation and the Nigerian Ports Authority 13$ WR ÀQG VROXWLRQ WR the problem is somehow belated.

Instructively, barely 48 hours after the Ojuelegba tragedy, another accident occurred in Ikotun, a densely populated community within the state. Two people were killed, and four others injured when the container truck fell on tricycles. The injured are two pregnant women and two children. The Lagos 6WDWH 7UD΀F 0DQDJHPHQW $XWKRULW\ /$670$ VSRNHVSHUVRQ $GHED\R 7DRÀT VDLG SUHOLPLQDU\ LQYHVWLJDWLRQ UHYHDOHG WKDW WKH FRQWDLQHU WUXFN VXͿHUHG a brake failure before losing control of the vehicle.

Unfortunately, there have been many such accidents in recent years with dozens of lives lost.

While we commiserate with the relatives and loved ones of the victims of these serial tragedies, we once again renew our earlier call on the need to save Nigeria from the accidents usually caused by reckless drivers of container-laden vehicles that daily ply our roads.

We also reiterate our earlier suggestion that a heavyiron bar be mounted across the Ojuelegba bridge to prevent trailers and other heavy-duty trucks from

plying the bridge as it is done to the Ikeja bridge.

0HDQZKLOH WKH FLUFXPVWDQFHV RI WKHVH DFFLGHQWV are all too familiar: carelessness in latching the containers to vehicles, irresponsible driving, and pathetic regulation. We have stated repeatedly in this space that the authorities must do something about the wanton loss of innocent lives being caused by these avoidable accidents. The Federal Road Safety &RPPLVVLRQ )56& VKRXOG EH LQYROYHG LQ ÀQGLQJ D lasting solution to this problem as the lead agency on road safety administration and management in the FRXQWU\ :H DOVR XUJH WKH 9HKLFOH ,QVSHFWLRQ 2΀FHUV (VIO) across the country to be actively engaged. It is indeed ironic that while many of the agencies that man our roads harass innocent motorists and road users, they turn a blind eye to vehicles that constitute nuisance on the highways and threaten the lives of road users.

As we have argued repeatedly, what is happening on most of our highways across the country is anathema to decency in road usage while this armada of articulated vehicles will be considered primitive in more civilised societies.

The tragedy at Ojuelegba should therefore be another wake-up call for the relevant authorities and critical stakeholders. Human lives are precious, and we should not be wasting them the way we do in Nigeria.

Besides being high on alcohol or other drugs, many of these truck drivers have scant regards for road regulations as they always act as though above the law. Beyond putting on trial drivers who cause the accidents, putting preventive measures in place remains a better option for dealing with the nuisance they constitute, and the innocent lives being wasted.

And to the extent that many of these accidents can also be traced to the antics of largely compromised regulators, there is an urgent need for authorities at all levels to be more alive to their responsibilities.

Human lives are precious, and we should not be wasting them the way we do in Nigeria T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI THE OMBUDSMAN KAYODE KOMOLAFE

T H I S D AY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTOR PATRICK EIMIUHI CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO 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 PRESIDENT’S SEVEN-DAY MORATORIUM Eleven governors elected on the platform of APC met with President Buhari at the State House over the excruciating cash crunch in the country as a result of the new naira redesign policy which is making the lives of many average Nigerians unbearable.

The President rejected the wise counsel of the governors to allow the concurrent use of the new and the old notes and rather urged Nigerians to give him a seven-day grace to resolve the conundrum.

7KH ÀUVW IRXU GD\V KDYH \LHOGHG QR WUDFWLRQ RQ HDVLQJ WKH cash crunch rather the issue has become a matter of litigation by the political class across the isles, some pursuing a self-serving revanchist partisan game whilst others are YHU\ FRQFHUQHG ZLWK WKH VXͿHULQJ RI WKH PDVVHV LQ WKHLU states.

Putting the seven-day moratorium demanded by the president in the context of how other pressing state matters have dragged endlessly for months and years without any resolution, one could safely hazard what the outcome of this interregnum would be.

One recent example is the committee set up by the President to resolve the fuel scarcity which has subsisted for RYHU ÀYH PRQWKV QRZ ZLWK DOO LWV H[LVWHQWLDO H[WHQXDWLQJ headwinds for the economy and national security. The committee has not had any meeting beyond their inaugural convocation yet the scarcity has now worsened in many parts of the country, threatening the social-economic fabric of the nation.

Nigerians do not deserve to see another committee with WKH XVXDO QHEXORXV WHUPV RI UHIHUHQFH DQG RͿKDQGHG WLPHlines.

The unresolved cash crunch and fuel crisis have now metastasized into another emergency thus constituting a tripod of Sword of Damocles over the February 2023 general elections.

The third and the newest in the catalog is under the SXUYLHZ RI WKH 0LQLVWU\ RI &RPPXQLFDWLRQ DQG MXVW DV WKH CBN and the NNPC have handled the redesigned naira note and the fuel crisis with perfunctory bureaucracy reVSHFWLYHO\ WKH 0LQLVWU\ 2I &RPPXQLFDWLRQV LV ZDWFKLQJ

as almost all Point-Of-Sale (POS) platforms in the country are practically shutdown for lack of network.

0RVW RI WKH TXHXHV DW WKH JDV VWDWLRQV DUH QRW FDXVHG E\ the stations not dispensing the product but customers are locked down after almost every transaction as they are not able to make payments with the POS machines after banks have practically stripped them of liquid cash.

It would be most unfortunate for the president to set up another committee after the seven days as that would amount to taking Nigerians for granted in their most trying times.

0RVW RI WKH SROLWLFDO SDUWLHV GHPDQGLQJ QR IXUWKHU H[tension of the date set for the old naira notes to cease to be legal tender know that they do not stand any chance in the coming elections and so would rather play the role of EXWWHUÀQJHUV GLVUXSWLQJ DOO HFRV\VWHPV LQVWUXPHQWDO WR WKH election. Thank God the Supreme Court has granted some reprieve.

Bukola Ajisola, bukymany@yahoo.com

T H I S D AY ˾ THURSDAY, FEBRUARY 9, 2023

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BUSINESSWORLD

INTERVIEW

Okwuosa: We are Working with NNPC to Complete AKK Ga s P i pe l i ne Despite the challenges of inaccessibility of funding from China for the Ajaokuta-Kano-Kaduna (AKK) gas pipeline project, the Chairman and Group Chief Executive Officer of Oilserv Limited, Emeka Okwuosa, whose company is handling the project, says the project remains on track to be completed before the end of this year. Okwuosa, whose company has handled other multi-complex gas pipeline projects, also speaks on Nigeria’s energy transition, the benefits of Nigeria’s local content law to the service providers, among other issues. Ejiofor Alike presents the excerpts: Your firm has been in the forefront of gas expansion in Nigeria. What is your assessment of the sector? he oil and gas sector has come a long way and what it means is that we have a more robust industry now and far more participation of Nigerians across board - across that industry, which includes exploration and production, service delivery, financial services, and so on.

We have a more robust industry today than what we had previously and it continues to grow since the enactment of the Nigeria Oil and Gas Industry Content Development (NOGICD) Act 2010 which drives the local content capacity building, Nigerian Content Development and Monitoring Board (NCDMB), which manages the local content activities.

I can say they have actually done a lot and are still doing more to build capacity; as you can see the capacities in the service industry have improved tremendously, because the service industry is the most important in the oil and gas industry.

Enhancing the service industry is how you trickle down values in the industry to the economy of a country. So, a robust service industry means that a lot of the value is in basically developing and operating oil and gas facilities, and gas assets are domiciled within the country. Remember, it’s not just about the ownership of these assets, it’s about the services rendered as you develop these assets and you keep running these assets.

So, we have come a long way. There is also a lot of participation of Nigerians in exploration and production which is the exploration and production (E & P) sector of the country’s economy and it continues to grow. Of course, there are still some gaps in efficiency, gaps in the ability to deliver and especially local participants but there are reasons for these and there are some of them which are not an issue.

What it means, in essence, is that Nigerians have grown a lot and with the coming up of PIA (Petroleum Industry Act), which has been effective and ignited into law, it is being operationalised; you can now see us with an NNPC as transformed into NNPC Limited.

With all these implications, there are also much more implications in operation than we have in the E & P industry as well as the service industry. So, the bottomline is the industry is getting more robust as we are adapting to best practices and at the same time we are adapting to changes in the world and that’s the way it is.

of movement; so, we are doing everything to mitigate it. So, bearing all of these, the project will be delivered in 2023.

T

Currently, your major commitment is the AKK project. What is the situation presently as there are insinuations in some quarters that the AAK project is facing some financial challenges. Specifically, China, the main sponsor is said to have pulled out; what is the situation and how are you sourcing for funds to complete the project and when is the job expected to be completed?

The AKK project is a very crucial project, very important; you may wish to know that the importance is underpinned by the fact that for us to develop as a country we need energy and the most abundant source of energy to Nigeria is gas and fortunately for us, we have a lot of gas reserves in the country.

For Nigeria, we have the energy but gas is meaningless if you cannot produce and transport it. Transportation is the most important because you cannot store gas very much; you need to move gas from the point of production to the point of utilisation and be able to match the availability of

How can we utilise and maximise gas for our transition energy?

Well, it is said right that gas is what we call transition energy. Gas is in a position to enable us to meet some of the requirements of the framework of the environmental target.

In sub-Saharan Africa and the developing world, you need gas to be able to develop because our needs are different from the developed world. With that, we have to adapt and that is why we are keeping in mind the requirements of the E.S.G targets. now,

Okwuosa

gas to utilisation of gas.

So, AKK is a major part of the Nigerian gas master plan, the backbone of the transmission system of gas. As we speak, we have gone pretty far as the execution of the project is concerned.

The AKK will be finalised this year and delivered this year as work is fully ongoing and we are working closely with NNPCL as the client to have it delivered.

The project is based on a build and transfers modern. What it means is that the funding has to come from a partner. China was approached, negotiations were made, and NNPCL and the federal government met all the conditions to be able to secure the loan for the project.

Unfortunately, as we speak, nothing has come out of that, in terms of what China would bring. I am not in a position to state why, but all I can say is that all the requirements from us as a contractor from NNPCL as the owners of the project and from the federal government, including the sovereign guarantee, which the president signed and made available, everything needed by Nigeria was done.

But also I may wish to tell you that irrespective of that, NNPCL has moved in to make sure that funding does not create a problem for the project.

NNPCL has been funding this project from inception to navigate the negative impact of the non-availability of funding from China.

As I said earlier, I am not in the position to say why the China funding has not materialised; it’s not because Nigeria

failed to do what it ought to do in line with the requirements for the Chinese funding. We did all that should be done and the project is moving smoothly, as the project is not hampered much by the unavailability of financing from China and that is where we are currently and of course, in the future, we will see how it works.

Are there other challenges that may affect the completion target?

As stated earlier, the project is going to be completed before the end of 2023; the project is ongoing and of course, we have had our fair share of setbacks, the most difficult was the COVID-19 period, which impacted so much on the project.

If you recollect, there was a total lockdown from March to September of 2020 that impacted the project and thereafter the restriction of movements and travels also affected the project. But having said that, the other impact came from the huge flooding that happened in the last rainy season which cut off a lot of places where work was ongoing. It took about three months of flooding before we could resume work in some areas; we couldn’t have access until December last year because of the flood. That is it.

Also, we are not oblivious of the coming election and we know how it works in Nigeria, as we are doing everything possible so that there will be no impact of the election period on the successful project completion.

However, of course, we know few days before the election we will not be able to work because of the restriction

Security remains key in the execution of pipeline infrastructure; how are you able to overcome this?

Well, security challenges like many other challenges are things we have to live with in our country. Every country and any country has got one challenge and Nigeria is no different.

We cannot wish away the security challenges, of course, I am aware that the federal government, business operators, and individuals are all doing a lot to find a way out of these security challenges and we are hopeful that as we keep developing our democratic system we will overtime reduce the occurrence and incidence of this security issues bedevilling the country.

But as of today, we live with it and we have to find ways to mitigate it as well as find ways of living our lives irrespective of what I can call the setbacks of this occurrence.

So, in the industry, we have methods and ways to mitigate the issues by working with security agencies and stakeholders of all manners to be able to continue executing and delivering our project even with these constraints.

For us, it’s a problem that is already existing, but what I can say is that it is not stopping us from being positive and looking forward to making sure that we work to develop capacity in the oil and gas industry in Nigeria.

Don’t forget that in pipeline construction you are exposed a lot to the environment because you go through every inch of the space by building the pipeline which means you are exposed to everything, not only security but to all manner of issues. But we will deal with this because we have a methodology to work with.

How did you receive the news of your nomination as Vanguard Business Man of the year? How would the award propel your to do more in your contribution to the economic growth of the country?

I am quite happy that Vanguard deemed me qualified for the nomination as Vanguard Energy Icon. I believe it is recognition of my contribution in the oil and gas industry, especially in building capacity across the board.

The system I have built has very strong management efficiency. We have an employee base of close to 2,000 people and we contribute a lot to the national economy in many ways. Of course, I am not talking about our vendors and community and many stakeholders. What is important is that all these sum up the means of developing our country Nigeria.

As such, I am happy about this and all I will say is that it gives me more impetus to continue to work hard in developing these capacities and building up our capacities in the oil and gas industry to make Nigeria better. I would say I am happy to receive the honour as I never expected it.

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T H I S D AY ˾ AY, FEBRUARY 9, 2023

HEALTH & LIFESTYLE

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

Engaging Boys, Men in Conversation to End Female Genital Mutilation by 2030 With just seven years left to achieve the target of ending female genital mutilation, FGM, – the total or partial removal of the external female genitalia – the United Nations Children’s Fund, UNICEF, the United Nations Population Fund, UNFPA, and the Initiative for Girls Right and Health Development, IGRHD, in commemoration of the International Day of Zero Tolerance for Female Genital Mutilation, reiterated the need for boys and men in Nigeria to join the heads to phase out the age-long harmful practice. Rebecca Ejifoma writes

“W

orld will miss the target of ending FGM by 2030 without urgent action – including from men and boys,” the UNFPA and UNICEF unanimously warned as efforts to eliminate Female Genital Mutilation (FGM) in Nigeria in line with the International Day of Zero Tolerance for Female Genital Mutilation.

Observed February 6th, the theme for this year’s day is “Partnership with Men and Boys to Transform Social and Gender Norms to End FGM”.

And while international bodies also raised the alarm about the disturbing statistic that 4.3 million girls are at risk of female genital mutilation, this number is projected to reach 4.6 million by 2030. Conflict, climate change, rising poverty, and inequality continue to hinder efforts to transform gender and social norms that underpin this harmful practice and disrupt programmes that help protect girls, especially in states like Osun, Ekiti and Oyo, where FGM is most prevalent. UNICEF and UNFPA had said.

Initiative for Girls Right and Health Development in Osun In a telephone conversation with the Initiative for Girls Right and Health Development (IGRHD), Assistant Media Director Damilola Amoo described female genital mutilation as the cutting, partial or total removal of the female genitalia. Hence, she noted that it was for this cause that the not-for-profit NGO was established. “We create awareness in Osun State about the need to end FGM and other harmful practices against the female child because it is about human rights.”

Aligning with the theme of this year, Amoo said it was high time the boys and the men were enlightened about their role in saving the girls and women. “We also make the men understand that they should be decent enough not to lure another woman into promiscuity.

We have done a lot of sensitisation, awareness and campaigns to accelerate the goal of ending FGM.” Currently, IGRHD has visited schools in Osun state where it operates, empowering women and girls in their rights and reproductive health. We are not relenting. We involve not only stakeholders but also traditional leaders, religious leaders, and lawyers.

IGRHD, a grassroots non-profit focused on weakening harmful social and cultural practices affecting the sexual and reproductive health and rights of girls and women in Osun state, has flagged off a programme called “She Must Know”.

This initiative aims to train women and girls on sexual reproduction to help them make informed decisions. Amoo added: “Cutting girls traumatises them in adulthood. Once the government starts arresting and making people know that it is an offence punishable under the law, it will augment our efforts in ending FGM.” According to UNICEF and UNFPA, in a

An NGO holds sensitising market men and women against FGM in Ado Ekiti

joint statement, FGM remains widespread in Nigeria. With an estimated 19.9 million survivors, Nigeria has the third-highest number of women and girls who have undergone FGM worldwide. With the risk of cutting highest in the first five years, 86 per cent of girls are circumcised before age five, according to the National Demographic and Health Survey 2018.

However, the duo agencies noted that FGM prevalence in Nigeria is decreasing among women aged from 15 to 49 according to data from the 2021 Multiple Indicator Survey (MICS) (18 per cent to 15 per cent from 2016 to 17 and 2021). “The prevalence among girls aged zero to 14 decreased from 25 per cent to eight per cent during the same period (MICS 2021). This significant decrease in prevalence among girls aged zero to 14, NDHS of 2018 estimated, is a welcome development, given that an estimated 86 per cent of females aged between 15 and 49 were subjected to FGM before the age of five.”

UNICEF and UNFPA further noted that 12 states had a prevalence higher than the national prevalence, ranging from nine per cent in Edo to 35 per cent in Kwara and Kano. FGM, they pointed out, violates the rights of women and girls and limits their opportunities for the future in health, education and income. Rooted in gender inequality and power imbalances, it is an act of gender-based violence that harms girls’ bodies, dims their futures, and endangers their lives.

The organisations added: “Changing gender and social norms that encourage FGM is critical. Men and boys are powerful allies in the effort. Increasingly they are challenging power dynamics within their families and communities and supporting women and girls as agents of change.”

Meanwhile, the UNFPA-UNICEF global Joint Programme on the Elimination of FGM has supported over 3,000 initiatives within the last five years where men and boys actively advocate to bring an end to the practice. Since implementation began in Nigeria in 2018, UNJP has supported the engagement of 807 men’s and boys’ networks to advocate to bring an end to the practice actively.

It has done this by providing opportunities and safe spaces for critical reflection on gender discrimination, power dynamics, positive masculinities and comprehensive sexual and reproductive health education targeting men and boys. Hence, they understand the consequences of FGM. In the words of the UNFPA Resident Representative, Ulla E. Mueller, men and boys remain key partners in addressing gender inequalities and harmful practices as they all collaboratively join hands to deliver the global promise of eliminating FGM by 2030.

“Due to our collective efforts, we are

witnessing significant opposition from men and boys to FGM. Today, men and boys are more receptive to change than before. In some communities, they are more likely to disapprove of female genital mutilation and domestic violence than women and girls,” said UNICEF Nigeria Country Representative Cristian Munduate.

Activities to Stall FGM As part of a pragmatic approach towards stalling FGM, on the International Day of Zero Tolerance for FGM, UNICEF and UNFPA have unanimously called on all stakeholders to partner and engage men and boys to shift unequal power relations and challenge the attitudes and behaviours caused by gender inequality that leads to FGM. They also suggested integrating gendertransformative approaches and changing social norms into anti-FGM programmes. Invest in national-level policies and legislation protecting the rights of girls and women, including the development of national action plans to end FGM. For these organisations, February 6th reminds them of the urgent need for even more targeted and concerted efforts to turn their shared goal of ending FGM into a reality.

“We must work together with all stakeholders – including men and boys – to protect the millions of girls and women at risk and consign this practice to history,” say UNICEF and UNFPA.

Abdul Latif Jameel Health, iSono Health to Launch AI-driven 3D Breast Ultrasound Scanner for Breast Care Rebecca Ejifoma To transform breast care with automated imaging and artificial intelligence (AI), Abdul Latif Jameel Health announced a new distribution agreement with iSono Health, a medical technology company in San Francisco, US. Abdul Latif Jameel Health will become the exclusive distributor of iSono Health’s ATUSA scanner in the Global South, making it available to hundreds of millions

of women in an initial 31 countries covering the Middle East and North Africa, Africa, South Asia, and Southeast Asia.

The female-founded iSono Health is transforming breast imaging with a first-of-itskind, compact automated whole breast ultrasound system featuring a unique wearable accessory and intuitive, intelligent software for automated image acquisition and analysis.

The patented and FDA-

cleared ATUSA system is a compact ultrasound scanner that captures 3D images through automated scanning of the whole breast in just two minutes, independent of operator expertise.

The Founder and CEO, iSono Health, Maryam Ziaei, said, “This new partnership is a significant milestone in our history and an important step forward in making our ATUSA scanner accessible to millions more women across the world.

“Working with Abdul Latif Jameel Health will empower so many more women to access the healthcare they need, to improve patient experiences and to bring peace of mind.”

She noted that they have been able to develop a scanner which takes two minutes to scan and makes breast imaging painless and convenient.

“We’re very much looking forward to bringing this technology to the region and making a lasting, sustainable

impact.”

According to the World Health Organisation, breast cancer is the world’s most prevalent cancer. One in eight women will be diagnosed with breast cancer in their lifetime.

It added that access to personalised and efficient breast imaging is critical in every step of the patient’s journey from screening to detection, treatment, surgery to monitoring.

The ATUSA system is

designed to offer enhanced efficiency, consistent accuracy, and a comfortable patient experience, therefore making 3D breast ultrasound imaging accessible to patients and physicians at points of care, around the world.

The agreement will see Abdul Latif Jameel Health distribute the ATUSA scanner across the Middle East and North Africa as well as African markets including South Africa, Kenya and Nigeria.

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T H I S D AY ˾ AY, FEBRUARY 9, 2023

NEWS

Hazie Masters Club Donates to Red Cross Orphanage, Cancer Patients at LUTH

Members of Hazie Club led by High Chief Agbapuru during their visit to the Nigeria Red Cross Orphanage in Lagos and children with cancer at the Alima Atta Oncology Ward, Lagos University Teaching Hospital (LUTH), Idi-Araba

I

n line with their corporate social responsibility, members of a Lagos based fast growing social organisation, Hazie Masters Club of Nigeria, recently made donations to motherless and abandoned children at the Nigeria Red Cross Orphanage Lagos and children with cancer at the Alima Atta Oncology Ward, Lagos University Teaching Hospital (LUTH), Idi-Araba.

The club members, who were led on the courtesy visit by their president, High Chief Richard Agbapuru donated a total of N700,000 together with noddle foods, bags of rice and other things to the Lagos Chapter of the Nigeria Red Cross Orphanage located at Makoko Yaba area of Lagos.

Same day, the club was at the University of Lagos Teaching Hospital to donate N1million cheque to children being treated of cancer at the Alima Atta Oncology Ward of the hospital.

Speaking at the Red Cross Orphanage while presenting the items with some members of the Club, Agbapuru who is the Chairman/Chief Executive Officer of RichyGold International Group of Companies said the club had chosen to identify and share in what the orphanage was doing towards caring for the motherless and abandoned children.

He commended management of the orphanage

(which was founded in 1964 via an Act of Parliament) for the humanitarian services being rendered to the children many of whom lost their mothers soon after their birth or were dumped on the streets by their ‘unwanted’ mothers.

Speaking further, Hazie President explained that God has been gracious to members of the club who now have chosen to be of blessing to the children at the orphanage.

He assured that in the nearest future, the Club would do more since this maiden outing was to simply identify and establish a relationship with the orphanage.

High Chief Agbapuru encouraged management and staff of the orphanage to continue in the same Godly spirit that brought them to serve in the orphanage, reassuring that “we will support you whenever we can.”

The Chairman of the Lagos Chapter of the Nigeria Red Cross, Mrs. Victoria Adebola Kolawole who was on hand with some senior staff of the Orphanage to warmly receive Hazie members was quite excited and full of appreciation to Chief Agbapuru and his colleagues.

According to her, “what else can I say than to thank you and God for the great and wonderful gift items and huge amount

of money donated to the orphanage. “ Today is 1st of February, 2023 and it is the beginning of a new month and your Club has come to surprise us with a large heart of giving, a heart that is not thinking of itself alone, a heart that is thinking of the less privileged, the motherless and abandoned children home at the Red Cross, Lagos.

“I say a very big thank you and may the good Lord who has seen the intent of your heart surely reward every member of Hazie Club with long life and more prosperity.”

At the Lagos University Teaching Hospital, Idi-Araba, the Hazie members were similarly well received by the Deputy Director (Nursing) in charge of Alima Atta Oncology Ward, Mrs. B.R. Agbolunge and the Senior Registrar, Dr. U.O. Ibrahim. A cheque for N1million was presented by Hazie Club in support of the treatment of children with cancer at the Alima Atta Oncology Ward.

The Vice President of the Club; High Chief Anuma Amaechi while making the presentation explained that Hazie members had taken interest in the challenges of the cancer patients and remarked that the least they could do was to assist in whatever way they could afford. He promised that the Club would always assist in whatever way possible.

Receiving the cheque on behalf of the Alima

Atta Oncology Ward authorities and the cancer patients, the Deputy Director and her colleague expressed appreciation to Hazie members, saying that the children would be happy as the money would go a long way in their treatment.

A member of the Club, Mr. Tony Onwumere was at the forefront of liaising with the relevant stakeholders both at the Red Cross Orphanage and LUTH to ensure that there was a seemless visit to both places.

Management of Red Cross Orphanage and Alima Atta Oncology Ward spoke highly of him for taking out time and effort to convey the club’s intention to pay visit with some donations. He is the Managing Director of Life back Pharmaceutical limited.

It would be recalled that during Hazie Club’s end of year party last December, its leadership had promised that they would make caring for the less privileged as one of the hallmarks of the club’s activities as there is no better way of appreciating God for blessing and making some of them billionaires in their different areas of business. Apart from Agbapuru and his Vice Anuma Amaechi, on the courtesy and donation trip were Chief Obumnaeme Solex Obiudo, Tony Onwumere and Remmy Uche Mbagwu, assistant secretary of the club.

NSSFAdvocatesImprovedTransparency,AccountabilityinNigeria’sHealthcareSystem Rebecca Ejifoma Righting Our Story, a 110-page collection of short stories, poems, flash fiction and essays, is more than an anthology.

It is part of the WeNaija Literary Contest, an annual flagship programme of the Nigeria Solidarity Support Fund (NSSF) aimed at mobilising young citizens to advocate improved transparency and accountability in Nigeria’s healthcare system.

Speaking at the book launch which was held in Lagos, the General Manager of NSSF, Dr Fejiro Chinye-Nwoko defined one of its goals as reskilling and retooling the Nigerian youths.

“We know COVID-19 showed

us that the skills we have preCOVID weren’t going to last us in the future. We needed more new skills; we needed Nigerian youths beyond classroom learning to get employable skills,” says Chinye-Nwoko.

Building on its vision as an advocacy organisation for improving health outcomes in Nigeria, NSSF delivered 20 profound insights from exceptionally talented young Nigerians that envision a healthier Nigeria.

With each piece pitched from the writer’s point of view and including perspectives of Nigerian citizens on the state of the nation’s healthcare system, the NSSF GM admitted that Nigeria needed help.

She emphasised: “Righting Our Story shows Nigeria’s realities, undeniable truths straight from the horse’s mouth, lived experiences of young Nigerians. Many are presented as fiction, but it does not change the fact that Nigeria needs help.”

For Chinye-Nwoko, if a reader connects with just one of the articles in the book, their goal would have been met. “If it motivates someone to act and as a result lives are saved, or a challenge in the healthcare system is made right, then mission accomplished.”

Meanwhile, during the 30-minute panel session addressing the Gaps in Transparency and Accountability in the

Healthcare System in Nigeria, the Commissioner of Health, Ogun State, Dr Tomi Coker encouraged Nigerians to support the government through tax paying.

“His Excellency, Governor Dapo Abiodun, the principle is to look at the policies that we have in place that could affect patients’ care and patients’ safety.

“We have revamped those policies. We are making sure that we standardise we have three pillars we have stood on – infrastructure, equipment, and human resource,” she outlined.

Coker added that while the Ogun state government put health insurance in place for sustainability, “As citizens,

we urge you to support the government by paying your tax. Do your bid and hold us accountable”.

On her part, the Chief Launcher and Fellow of the Pharmaceutical Society of Nigeria (PSN), Dr Ajoritsedere Awosika harped on the need for Nigeria to emphasise systems and be accountable one to the other.

She highlighted: “Accountability is about mutual respect.

As a health worker, wherever you find yourself, anyone coming to your domain, you have to respect the patient, likewise to respect the health worker and all those caregivers in the hospital.”

Awosika, however, implored

the incoming government to do a thorough epidemiology study. “Find out the primary ailments in every area. Take a data analysis of the disease condition. Find out what is primary in every area in the country.

“The country has about 9,556 wards. Find out if these wards have facilities. See how the structure can be improved and systems can be put in place.

But most importantly, health insurance.”

She also commended NSSF, which seeks to leverage the contest to build participants’ capacity on the use of digital tools and applications to advocate for a stronger healthcare system in Nigeria.

FGM : 200 Million Women, Girls Affected Worldwide, Says NGO Kemi OlaitaninIbadan A non-governmental organisation, Hacey Health Initiative, has raised an alarm that no fewer than 200 million women and girls have been victims of Female Genital Mutilation (FGM) globally.

The Monitoring and Evaluation Officer of the organisation, Mr. Emmanuel Oni, made the disclosure in Ibadan, during a day training session for journalists and other concerned stakeholders on ways to educate the masses on dangers

associated with the cutting of female genital.

Oni while addressing the participants on the theme of the event, “Stop Cut Project”, said though efforts and engagements of all stakeholders in the last two years have gone far in helping to reduce the spread in Oyo State, more still needed to be done on why the message should still be spread further into the interior.

He added that one of the objectives of the training is to help stakeholders see how they can collaborate with the media and practitioners in the

wider spread of the anti-FGM messages.

According to him, “Every year up to three million girls are at the risk of being mutilated globally, in Nigeria the prevalence of FGM is estimated at 15.1 per cent among women and is 8.2 per cent in girls. “ FGM is a criminal offence, hence there is need for us to engage the media so they can help in spreading the message to the people in order to stop the cut. The practice of FGM poses threat to the survival, development and productivity of women and girls.

“Treatment of complications cost $1.4billion USD per year globally and is projected to rise to $2.3billion USD by the year 2047 if no action is taken.”

He maintained that with proper education and stop of the menace such a huge fund could be diverted to better use in human and infrastructural development, stating that the there is need for public knowledge about FGM and its abandonment.

The Chairperson, National Association of Women Journalists (NAWOJ), Oyo State Council, Comrade Jadesola Ajibola, in her remarks, said the association

partnered with Hacey in a bid to support the fight of FGM and save more women and girls from the harmful practice.

She lauded media practitioners, security operatives, Hacey and other stakeholders for the roles they played in the last two years to curtail the spread of FGM in the state, assuring that the association and by extension the media will not give up on the fight until the practice of FGM becomes a thing of the past.

In their separate remarks, Police Officer in charge of FGM, OC Funke Ayenigbara; a former Chairperson of Oyo

FIDA and representative of the Commissioner for Justice, Barrister Debora Collins; representative of the Iyalode and the Market women society in the state, Dr. Ayo Alaga; Oyo State Coordinator/Chairperson State Steering Committee on Female Genital Mutilation, Mrs. Balikis Olawoyin and the NSCDC officer in charge of rape and FGM related cases, Mr. Afe Olurotimi, among others, called on media practitioners to take End FGM messages to the nooks and crannies of both urban and rural areas in the state.

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THURSDAY, FEBRUARY 9, 2023 • 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 07Feb-2023, unless otherwise stated.

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

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

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A Afrinvest Dollar Fund N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 11.36% AIICO Balanced Fund 3.89 3.96 36.27% 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 8.76% Anchoria Equity Fund 154.17 155.84 6.36% Anchoria Fixed Income Fund 1.22 1.22 -0.53% 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 23.46 24.17 6.91% ARM Discovery Balanced Fund 549.15 565.70 5.36% ARM Ethical Fund 46.43 47.83 2.92% ARM Eurobond Fund ($) 1.13 1.13 0.58% ARM Fixed Income Fund 1.12 1.12 1.00% ARM Money Market Fund 1.00 1.00 10.69% ARM Short Term Bond Fund 1.04 1.04 0.70% 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 96.84 96.84 1.83% AVA GAM Fixed Income Naira Fund 1,108.44 1,108.44 -1.60% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund N/A N/A N/A Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) N/A N/A N/A CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalfif@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund Name Bid Price Offer Price Yield / T-Rtn Capitaltrust Halal Fixed Income Fund N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.01 1.01 0.87% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 12.30% Paramount Equity Fund 18.53 18.87 7.20% Women's Investment Fund 152.42 154.30 5.51% CHD Nigeria Bond Fund 108.17 108.17 10.86% CHD Nigeria Dollar Income Fund 1.06 1.06 9.16% 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 10.11% Cordros Milestone Fund 142.61 143.51 3.57% Cordros Fixed Income Fund 106.51 106.51 10.00% Cordros Halal Fixed Income Fund 103.95 103.95 6.04% Cordros Dollar Fund ($) 115.11 115.11 5.49% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn N/A N/A N/A Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn 100.00 100.00 10.52% EDC Nigeria Money Market Fund Class A 1,000,000.00 1,000,000.00 7.62% EDC Nigeria Money Market Fund Class B 1,113.96 1,116.87 0.58% EDC Nigeria Fixed Income Fund 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 12.60% Emerging Africa Bond Fund 1.08 1.08 10.17% Emerging Africa Balanced Diversity Fund 1.13 1.13 45.21% Emerging Africa Eurobond Fund 105.36 105.36 3.44% 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 1489.36 1489.36 12.54% FBN Balanced Fund 210.84 212.34 5.58% FBN Halal Fund 124.54 124.54 12.87% FBN Money Market Fund 100.00 100.00 13.67% FBN Dollar Fund 121.03 121.03 6.86% FBN Smart Beta Equity Fund 177.83 180.46 7.38% FBN Specialized Dollar Fund 105.00 105.00 9.75% 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 9.14% Legacy Debt Fund 3.54 3.54 -11.58% Legacy Equity Fund 2.08 2.13 19.85% Legacy USD Bond Fund 1.27 1.27 5.27% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1

Fund Name Coral Balanced Fund Coral Income Fund Coral Money Market Fund

Bid Price 4,354.80 3,743.40 100.00

Offer Price 4,386.60 3,743.40 100.00

Yield / T-Rtn 33.51% 8.10% 12.48%

FSDH Dollar Fund 1.14 1.14 5.81% 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 Abacus Money Market Fund N/A N/A N/A Vantage Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Kedari Investment Fund (KIF) N/A N/A N/A Vantage Equity Income Fund (VEIF) - June Year End 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 N/A N/A N/A Meristem Money Market Fund N/A N/A N/A 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) 101.57 101.57 8.88% Norrenberger Money Market Fund (NMMF) 100.00 100.00 10.81% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund N/A N/A N/A PACAM Fixed Income Fund N/A N/A N/A PACAM Money Market Fund N/A N/A N/A PACAM Equity Fund N/A N/A N/A PACAM EuroBond Fund N/A N/A N/A SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 131.80 134.14 0.05% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.00 1.00 11.03% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,794.68 3,825.76 11.95% Stanbic IBTC Bond Fund 246.14 246.14 4.49% Stanbic IBTC Ethical Fund 1.51 1.53 20.63% Stanbic IBTC Guaranteed Investment Fund 334.67 334.67 6.88% Stanbic IBTC Iman Fund 274.87 277.92 17.63% Stanbic IBTC Money Market Fund 1.00 1.00 12.91% Stanbic IBTC Nigerian Equity Fund 12,967.39 13,120.11 18.75% Stanbic IBTC Dollar Fund (USD) 1.37 1.37 6.38% Stanbic IBTC Shariah Fixed Income Fund 121.81 121.81 4.19% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 115.97 115.97 9.02% Stanbic IBTC Absolute Fund 4,604.36 4,604.36 8.23% Stanbic IBTC Aggressive Fund 3,455.79 3,499.67 24.31% Stanbic IBTC Conservative Fund 4,356.21 4,373.20 14.43% 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 1.02 1.04 6.91% United Capital Balanced Fund 1.54 1.56 12.21% United Capital Wealth for Women Fund 1.21 1.22 3.73% United Capital Sukuk Fund 1.11 1.11 10.00% United Capital Fixed Income Fund 1.97 1.97 7.48% United Capital Eurobond Fund 126.07 126.07 5.57% United Capital Money Market Fund 1.00 1.00 12.81% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 14.38 14.52 3.70% Zenith ESG Impact Fund 16.37 16.53 3.57% Zenith Income Fund 23.74 23.74 0.79% Zenith Money Market Fund 1.00 1.00 10.79% 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 4.48 4.58 11.53% Vetiva Consumer Goods Exchange Traded Fund 6.14 6.24 5.05% Vetiva Griffin 30 Exchange Traded Fund 19.76 19.96 11.69% Vetiva Money Market Fund 1.00 1.00 9.65% Vetiva Industrial Goods Exchange Traded Fund 24.38 24.58 21.90% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 140.18 142.18 -11.08% REITS NAV Per Share

Yield / T-Rtn

114.09 53.06 101.31 9.92

7.63% 3.98% -13.13%

Bid Price

Offer Price

Yield / T-Rtn

16.61 142.10 110.32 17.40 16.40

16.71 144.58 112.23 17.50 16.50

7.30% 11.36% 10.34% -1.31% 2.88%

NAV Per Share

Yield / T-Rtn

106.75

0.00%

Fund Name

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

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

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

THURSDAY FEBRUARY 9, 2023 • T H I S D AY

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GAMINGWEEK

Edited by NSEOBONG OKON-EKONG | ikotibok@gmail.com | Tel: 08114495324

How Gaming Industry Operators Are Coping with Naira Scarcity Nseobong Okon-Ekong reports that operators in the gaming industry are affected in diverse ways by the enduring difficulties in getting cash for their day-to-day transactions

I

n the last few days, Nigerians have been faced with diverse harrowing experiences arising from scarcity of petrol and change in the design of three currency denominations of the naira. The Central Bank of Nigeria (CBN) had announced that it was phasing out the old N200, N500 and N1,000 with new banknotes.

The initial date to stop using the old naira notes as legal tender was extended by another 10 days, which ends tomorrow, February 10. However, conflicting information from the CBN has led to an avoidable crisis. With the approaching national elections, beginning with casting votes to elect a new president on February 25, many have accused politicians of manipulating the banking system to mop up cash with which they intend to buy votes.

Ordinary citizens have been increasingly

frustrated as they are unable to get the new naira either from the banks or automated teller machines (ATM). Where available, the new naira notes are sold between 10 per cent and 20 per cent. For instance, point of sale (POS) operators take that much percentage from customers for transactions.

Combined with the petrol scarcity, the difficulty of getting cash to meet day-today expenses is reported in every area of the economy.

In varying degrees, operators in the gaming industry are no less affected by this crisis. Reacting to how the Naira scarcity is affecting operations, the Deputy Country Manager of PariMatch International, Mr Oyindamola Michaels, posited that the difficulty in getting cash had not hindered its business in any way.

“We are not doing retail,” he said.

This view was, however, moderated by

Mr Alexander Ezekiel, Country Manager, Melbet.

“It is sad to see the current situation Nigerians are facing due to the unavailability of cash, most especially the new notes. The conventional betting system, mostly used by the lotto and sports betting players in Nigeria, is one that requires the physical exchange of naira and kobo,” said Ezekiel. “Hence, the unavailability of the naira would heavily affect sales and operations of the business, especially for companies that heavily rely on these point of sale.”

Ezekiel justified his position and suggested ways of tiding over the current difficulties, noting that “for a smooth operation of the betting business, the process of collection and disbursement (deposit and payment of winnings) should not be disturbed.”

He added, “Conventional companies

should consider integration with payment gateways to make this process easy for players at their shops.

For Melbet, having projected into the future, we have been able to put a complete online betting system that is tested and trusted, where players can easily deposit into their wallets regardless of the time or day, and a seamless process that will allow you to withdraw your winnings into your bank account without any tussle and allow players handle their daily money demands.”

The Executive Secretary of the trade group for sports betting companies, Association of Nigerian Bookmakers (ANB), Bimpe Akingba, introduced other areas of concern that gaming industry operators are battling with. “Operators, especially online operators, don’t pay winnings by cash so the Naira scarcity isn’t affecting in that regard. However, in my opinion, those in the retail space will be affected because there will be things they need to get (minor expenditures) for operational purposes e.g fuel, photocopy or printouts, etc.,” explained Akingba.

She also pointed out that it might have reduced the number of customers, especially those who play with minimal sums like N1,000 and below, stressing that “there might also be some minor winnings which they ordinarily would have paid from their daily sales which might be difficult now since even customers have difficulty accessing cash.”

At the time of this publication, the spokesman for the apex regulatory body for the gambling industry in Nigeria, National Lotteries Regulatory Commission (NLRC), Mr Magnus Ekechukwu, said his organisation had not received complaints relating to naira scarcity either from operators or players.

He stated that “most payments are made online.”

Ekechukwu added, “Players have their gaming wallets from where they play, and to which winnings are remitted. Though many also still play at gaming centres where cash can be collected. However, we don’t have any report yet as to cash situation either with players or operators.”

ICE London Closes Today Nseobong Okon-Ekong

T

he biggest event in the global gaming industry, ICE London, closes today at ExCel in London.

This year, the three-day event is organised under the theme, ‘Create Together’. More than 35,000 gaming pioneers from over 150 countries are part of the most comprehensive and ROI-friendly networking, business and learning experience in the gaming industry.

Over 650 brands are on showcase at the event.

The international gaming platform is advertised as a gathering for ideas and meeting for the right people to exchange business plans and learn what the industry has to offer over three days of unrivalled

product discovery and connections with gaming professionals from all sectors and levels of seniority.

ICE London enables attendees to gain premier access to the latest innovations, technology solutions, regulatory updates and the expert insights needed to position brands in new and mature markets over the next 12 months.

Amusnet Interactive, an arm of Amusnet Gaming Limited, a B2B licensed igaming company founded in 2012 and a leading company delivering the top-performing and most entertaining online games, is the lead sponsor of ICE London this year. The company is delivering more than 160 titles to the digital world, including video slots, roulettes, video pokers and keno.

ADVISORY: +18 PERSONS UNDER 18 MUST NOT PARTICIPATE IN BETTING, GAMING OR LOTTERY ACTIVITY

T H I S D AY ˾ THURSDAY, FEBRUARY 9, 2023

49

GAMINGWEEK

FOR ECAST Neymar Returns from Injury as Real Madrid Hopes to Claim Record-Extending Club World Cup Title

Red Bull Kumite Defending Champion, Chux, Retains Title in High Stakes Showdown Iyke Bede was part of the recent finals of a video games championship p p sponsored p by y Red Bull The national finals of the Red mes Bull Kumite video games championship were one for the pion books as defending champion hux, Chukwudi Okoli, aka Chux, eted returned to claim the coveted uels. title after a series of virtual duels.

Chux, who now earns the rear title of first African to win nts, two consecutive tournaments, eak commenced his winning streak ting after comfortably defeating y_X Abuja-based debutant Foley_X (Folorunsho Akanbi) in the first stage of the game, winning six out sive of seven battles (three successive rounds wins). ond He advanced to the second evin stage facing off with Kid (Kevin teal Durst). The first battle was a steal for Chux. Having acquired the dexterity to manoeuvre the character Akira effortlessly to ned unlock certain features, he gained nd quick points from punishing and in inflicting damage on Kid’s Karin r). (his frequently used character). or Kid swapped Karin for Sagat, enabling him to win the und. second battle of the first round. und He ultimately lost the first round h after Chux rebounded through aggressive play. Chux advanced to the grand finale after thrashing Kid in three extra rounds of play. Chux was paired against Sheikhster (Shehu Mansur) for the third and final stage.

Relatively new to competitive video gaming, Sheikhster was noted for his brutal style throughout the tournament, leaving his opponent almost always cornered. The claim became evident after he gained a flawless victory over Lord Mo (Quaye Moses), with three straight wins in the first stage.

In the second stage, Sheikhster maintained an almost perfect

Davidson Abraham In the English Premier League, Arsenal are expected to return to winning ways after losing to relegation-threatened Everton last time, while city rivals Tottenham will travel to Leicester hoping to pick up a second win in a row. In Manchester, The Cityzens are expected to beat Aston Villa.

Vincent Kompany’s Burnely

DATE

are set to routinely pick up all three points against Preston as they hope to seal their Premier League promotion early enough.

In the Bundesliga, German champions Bayern Munich and Rivals Borussia Dortmund are expected to beat Bochum and Weder Bremen, respectively.

While Napoli is expected to easily dispatch bottom-placed Cremonense.

FIXTURE

BETTING TIPS

10 Feb 2023

Arsenal Vs Brentford

1

10 Feb 2023

Leicester City Vs Tottenham

Over 1.5

10 Feb 2023

FC Bayern Vs Bochum Weder Bremen Vs Dortmund Monaco Vs PSG

1 & Over 1.5

Clermont Foot Vs Marseille Burnley Vs Preston North End Manchester City Vs Aston Villa Napoli Vs Cremonense

2

10 Feb 2023 10 Feb 2023 10 Feb 2023 10 Feb 2023 11 Feb 2023 11 Feb 2023

Over 1.5 2

1 1 1 & Over 1.5

PROMO!!!

50 MOST

INFLUENTIAL PERSONALITIES IN GAMING

winning streak, losing one battle to Apprentice (Agbakala Chike).

With musical interludes interludes, light refreshments, and moments that spotlit the audience to air their opinions of each player, tension grew in the open space of the Old Railway Station, Ebute-Metta, Lagos, transformed into a gamer’s fantasy: the players battled in an enclosed metal cage while the audience cheered and watched the matches on various OLED screens scattered across the venue.

In less than 30 seconds, Chux reaffirmed that he was the defending champion by obliterating Sheikhster’s Ken. Having lost to Chux in the first round, Sheikhster rose from the ashes to claim victory in the first

battle but ultimately lost the second round.

The third round recorded a first win for Sheikhster as he suppressed Chux into a defensive position. The fourth round placed both in a tie after Sheikhster narrowly won.

The games would protract into a fifth, sixth, and seventh round that translated to six battle wins for Chux and three battle wins for Sheikhster. In total, Chux won five rounds (three successive wins), leaving Sheikhster with two wins.

Acknowledging the tenacity of Sheikhster throughout the game, Chux described him as exhibiting growth over time, tagging him a worthy opponent.

match.

“It was a close match The 5-2 scoreline is probably not a fair reflection, perhaps a 5-3 would have been fair, but it went pretty much how I had expected it to go. Winning the title feels pretty good, probably because this is the last major tournament for Street Fighter V, so it was really important that I won,” a visibly excited Chux admitted.

The Red Bull Kumite admitted over 100 contestants from Lagos, Abuja, and Port Harcourt. So far, there are no plans for the national winners to advance to the global stage. The international Red Bull Kumite competition was last held pre-pandemic.

Keep a date on Thursday, March 30, 2023 as G23aming Week reveals across the gaming spectrum, the ladies and gentlemen

GAMINGWEEK TEAM Nseobong Okon-Ekong ikotibok@gmail.com | 08114495324 John Bamidele amostogun@yahoo.com | 08022212236 Akeem Lasisi lasaisai@yahoo.com | 08023687884 Vanessa Obioha vaysylver@gmail.com | 08069838305 Davidson Abraham davisiano.adm@gmail.com | +971 56 744 6013

ADVISORY: +18 PERSONS UNDER 18 MUST NOT PARTICIPATE IN BETTING, GAMING OR LOTTERY ACTIVITY

THURSDAY, FEBRUARY 9, 2023 ˾ T H I S D AY

50

BUSINESS/MONEYGUIDE

BOI, AFD Sign €2.5m Grant Agreement Michael Olugbode ÓØ ÌßÔË Bank of Industry (BOI) and the French Development Agency (AFD) have signed a grant agreement for €2.5 million delegated by the Green Climate Fund (GCF) which will further their partnership to fight climate change in Nigeria.

A statement by the French Embassy in Nigeria, said France having committed more than €1.5 billion to the Green Climate Fund since 2019, it was only natural that the meeting took place at the French Embassy under the primary patronage of the French Ambassador to Nigeria and ECOWAS. Earlier on August 23rd, 2022, BOI and AFD have signed a €100m credit-line for the expansion of green finance in Nigeria. This was approved under AFD’s Transforming Financial Systems for Climate (TFSC) Programme with the Green Climate Fund (GCF), a USD650 million-Programme developed in 17 countries

for 100% climate investment projects.

The TFSC Programme focuses on financing investments that contribute to climate change mitigation or adaptation, specifically projects focused on renewable energy, low carbon and efficient energy generation, climate smart agriculture technologies, clean urban transportation and others.

With the BoI and AFD understanding the importance of mainstreaming Climate Finance within BOI’s strategy and operations; therefore, the grant agreement sets up a technical assistance scheme for BoI. Managing Director/Chief Executive Officer, Bank of Industry, Mr. Olukayode Pitan, at the grant agreement signing ceremony, said: “Given the serious threat that climate change poses to equitable and sustainable development in Nigeria, it is critical for us at BOI to take the lead in mobilizing capital for green and sustainable investment. In

addition to the line of credit, the € 2.5m Technical Assistance funds will support capacity building for BOI and its customers, thereby enabling the scaling of current efforts by BOI towards climate change mitigation and adaptation. This will contribute significantly to reducing Nigeria’s carbon foot print.”

Country Director for AFD, Mr. Xavier Muron bearing in mind the Paris Agreement, recognized BoI’s commitment to embed sustainability in its business practices to drive strategic social, economic and environmental impact in the communities the Bank serves.

Pitan acknowledged the dedication of AFD, the GCF and its strategic partners to ensure a smooth and efficient implementation of this deal.

He said: “BOI welcomes its partnership with the AFD and GCF as it continues to implement President Muhammadu Buhari’s policies with respect to climate finance.

Stanbic IBTC Restates Support for Businesses, Economy Nume Ekeghe Stanbic IBTC Bank has restated its commitment to support business growth in 2023 through its array of tailor-made financial solutions.

The bank in a statement emphasised that it will not relent in its efforts to provide accessible funding for individuals and small, medium, and large-scale enterprises to grow their businesses in the new year, thereby addressing inadequate access to capital through various financing solutions.

Targeted at businesses that need adequate funding to meet the demands of their customers, the innovative solutions provide short,

medium and long-term benefits to players across different sectors of the economy.

Speaking on the offerings, Chief Executive, Stanbic IBTC Bank, Wole Adeniyi, noted that the solutions will facilitate growth for Nigerian businesses.

He said, “After the yuletide season, there is the need to re-stock, reposition and restrategise for the new year. As a forward-thinking financial institution, Stanbic IBTC Bank has remained at the forefront of providing affordable and flexible solutions to enterprises in the country.”

Adeniyi described the Blue Blossom initiative as a unique solution for women-owned businesses to

achieve their financial aspirations.

A Blue Blossom account holder has access to loan facilities with competitive rates, business clinic sessions, and zero current account maintenance (CAM) fees with a minimum account opening balance of N20,000. It also comes with reduced loan management fees.

According to Adeniyi, “With C’Gate solution, merchants can accept payments via a USSD string, it can also be used on a POS terminal and online payment platform. Payment is effected by the buyer using unique present merchant codes and concluded with the transaction codes generated by the merchant.”

WIP Africa Delivers GreenPoint Community to 50 Subscribers Kayode Tokede Wealth Island Properties (WIP), over the weekend, allocated GreenPoint Community properties to over 50 subscribers in what the Chief Executive of the company, Tade Cash has described as a brave move by allotees.

According to him, “It is easy to invest at convenient times, but those who, despite uncertainty, still have time to invest in the future are very brave. And those are the people we have here taking advantage

of the investment offer of one of our properties, the GreenPoint Community in Epe.” More than 50 subscribers were allotted their space at the 20 acres project .that comes with a registered Deed of Assignment and Survey from the government of Lagos State.

He encouraged the them to align with the government in following requisite processes that have been stipulated, to have their building project sorted from start to finish including; abiding by accredited professionals at every stage of the

development.

“WIP Africa has a very cordial relationship with the government, and our goal is to open up this channel for our clients to take advantage of; such that they won’t fall short of the law whenever they choses to start their development.

However, we are aware, that some people have equally deep connections through family or professional affiliation, which they can explore independently as well. We would be glad to guide anyone willing seek seek support through us,” he added.

LCFE Presents Eko Gold Coin to Finance Minister In pursuit of its goal to enlist government support for the Nigerian commodities ecosystem, Lagos Commodities and Futures Exchange (LCFE), has presented the Eko Gold Coin to the Minister of Finance, Budget and Planning, Mrs Zainab Ahmed in Abuja, the Federal Capital Territory (FCT) recently.

Speaking during the presentation of the Gold Coin, LCFE’s Managing Director, Mr Akin Akeredolu-Ale, explained that Nigeria was richly blessed with over

40 different minerals types spread in more than 450 deposits across the country.

According to him, LCFE was created to ensure that the Nigerian economy could access and harness the opportunities in the solid minerals and other asset classes in the commodities ecosystem to grow the economy.

The SEC’s Director General, Mr Yuguda, commended the Minister and the Federal Government on their determination to bequeath a

vibrant commodities sector.

In response the Minister of Finance, Budget and National Planning, Mrs Ahmed expressed the commitment of the federal government to continue to improve the diversification of the economy by steadily growing other sectors, particularly the commodities trading ecosystem.

She noted the Eko Gold Coins, was one of the results of the Federal Government’s commitment towards diversification of the economy.

From left to right: MD/CEO, Wema Bank Plc, Mr. Moruf Oseni, Executive Director, Standard Chartered Bank Nigeria, Mr. Olukorede Adenowo and Deputy Managing Director, Wema Bank Plc, Mr. Wole Akinleye, during a courtesy visit, to discuss business opportunities between both financial institutions, at theWema BankTowers in Lagos...recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

AUGUST 2022 Money Supply (M3)

49,356,443.6

-- CBN Bills Held by Money Holding Sectors

50,601.36

Money Supply (M2)

49,305,842.3

-- Quasi Money

27,869,678.3

-- Narrow Money (M1)

21,436,164

---- Currency Outside Banks

2,680,236.81

---- Demand Deposits

18,755,927.2

Net Foreign Assets (NFA)

5,074,909.92

Net Domestic Assets(NDA)

27,869,678.3

-- Net Domestic Credit (NDC)

61,195,142.4

---- Credit to Government (Net)

21,001,401.5

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

40,193,740.9

--Other Assets Net

6,785,979.22

Reserve Money (Base Money

14,040,351.9

--Currency in Circulation

3,210,664.98

--Banks Reserves --Special Intervention Reserves

10,829,686.9 390,557.8

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

July 2022

Inter-Bank Call Rate

13.00

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

14.00

Treasury Bill Rate

2.76

Savings Deposit Rate

1.42

1 Month Deposit Rate

3.64

3 Months Deposit Rate

4.96

6 Months Deposit Rate

5.87

12 Months Deposit Rate

5.76

Prime Lending rate

12.10

Maximum Lending Rate

27.61

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT 24 OCTOBER, 2022

The price of OPEC basket of thirteen crudes stood at $92.17 a barrel on Monday, compared with $92.09 the previous Friday, 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).

51

THURSDAY, FEBRUARY 9, 2023 ˾ T H I S D AY

MARKET NEWS

Ponzi: Judge Sets March for Commencement of Vektr Capital Trial Kayode Tokede Justice Zainab Abubakar of the Federal High Court, Court 4, Abuja has set March 16, 2023 for the commencement of Vektr Capital Global Group trail along with two staff of the company Mr. Solomon Edet Solomon and Mr. Zakari Haruna on allegations bordering on operating as fund managers without registration by the Securities

and Exchange Commission (SEC) among others.

Justice Abubakar also directed that the two defendants be remanded in Suleija Correctional Centre pending when Mr. Zakari Haruna is able to fulfil his bail conditions.

The SEC had in March 2022 sealed up the Wuse Zone 5 office of Vektr Capital on suspicions of illegally collecting money from the

P R I C E S MAIN BOARD

DEALS

F O R MARKET PRICE

investing public to the tune of N891,000,000 while not registered with the Commission.

In the four count charge brought against the company and its promoters by the Federal Republic of Nigeria, Vektr Capital Global Nigeria Limited is alleged to have on or between the year 2021 and 2022 within the jurisdiction of the honourable court with

S E C U R I T I E S QUANTITY TRADED

VALUE TRADED ( N )

intent to defraud, conspired amongst themselves together with one Kayode Sal Viktor and your other staff to obtain the sum of over N891, 729,000 from investing public including Cordelia Ukomaka Ducke Eze and others under false pretence that they were a fund managers which you are not and thereby committed an offence contrary to Section 8 of the Advanced Fee Fraud and

T R A D E D MAIN BOARD

Fraud Related Offences Act 2006 and punishable under Section 1 (3) of the same Act. “That you M/s Vektr Capital Global Nigeria Ltd, on or between the year 2021 and 2022 within the jurisdiction of this honourable court did commit a felony to wit.

Conspired among yourselves together with Kayode Sal Viktor and your other staff to do an illegal act- to lure

AS O F

and offer for subscription an unregistered collective investment scheme valued over N891,000,000 to investing public including Cordelia Ukomaka Ducke Eze and others and thereby committed an offense contrary to and punishable under Section 516 of Criminal Code Act, Laws of the Federation of Nigeria 2004.

0 8 / 0 2 / 2 3 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

52

THURSDAY, ΁˜ ͺ͸ͺͻ ˾ T H I S D AY

Thursday, February 9, 2023

dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ /ŶĚĞdž ĚǀĂŶĐĞĚ ϯďƉ

dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ ŝŶĚĞdž ĂĚǀĂŶĐĞĚ ϯďƉ ƚŽ

THISDAY AFRINVEST 40 INDEX

Ϯ͕ϱϳϵ͘ϯϰ ŝŶĚĞdž ƉŽŝŶƚƐ ĚƵĞ ƚŽ ƉƌŝĐĞ ƵƉƟĐŬ ŝŶ E/d,

;нϬ͘ϴйͿ͕ E' D ;нϭ͘ϵйͿ͕ ĂŶĚ &/ >/dz ;нϭ͘ϳйͿ͘

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ƵŵƵůĂƟǀĞůLJ͕ ƚŚĞƐĞ ƐƚŽĐŬƐ ĂĐĐŽƵŶƚ ĨŽƌ ϴ͘ϲй ŽĨ ƚŚĞ

Price Previous Current Price Change Change Price Weighting YTD Index to Change Date

Current Price

Ticker

ŝŶĚĞdž͘ THISDAY AFRINVEST 40

2579.34

0.03%

39.1%

ROE

157.9%

ROA

25.4%

P/E

5.2%

4.8x

P/BV

Divindend Earnings Yield Yield

0.9x

5.6%

12.4%

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DŝdžĞĚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁŝƚŚŝŶ ŽƵƌ ĐŽǀĞƌĂŐĞ

ǁĂƐ ŵŝdžĞĚ ĂůďĞŝƚ ƉŽƐŝƟǀĞůLJ ƐŬĞǁĞĚ ĂƐ ϯ ŝŶĚŝĐĞƐ ŐĂŝŶĞĚ͕ ϭ ůŽƐƚ͕ ǁŚŝůĞ ƚŚĞ &ZͲ/ d ĂŶĚ Kŝů Θ 'ĂƐ ŝŶĚŝĐĞƐ ĐůŽƐĞĚ ŇĂƚ͘ KŶ ƚŚĞ ŐĂŝŶĞƌƐΖ ƐŝĚĞ͕ ƉƌŝĐĞ ƵƉƟĐŬ ŝŶ E' D ;нϭ͘ϵйͿ͕ E/d, ;нϬ͘ϴйͿ͕ ĂŶĚ

&/ >/dz ;нϭ͘ϳйͿ ĚƌŽǀĞ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ĂŶĚ ĂŶŬŝŶŐ ŝŶĚŝĐĞƐ ŚŝŐŚĞƌ ďLJ Ϭ͘ϵй ĂŶĚ Ϭ͘ϰй ƐĞƋƵĞŶͲ P ric e

P ric e C hg %

T ic k er

Vo lum e

C ON OIL

29.15

10.0%

FCM B

28.0

-7.8%

M RS

21.25

9.8%

ST ER LN B A N K

18.8

-5.0%

1.17

9.3%

T R A N SC OR P

15.8

0.7%

14.7

-0.4%

ϰďƉƐ ŽŶ ĂĐĐŽƵŶƚ ŽĨ ďƵLJ ŝŶƚĞƌĞƐƚ ŝŶ D E^ Z

T ic k er

;нϮ͘ϱйͿ͘ DĞĂŶǁŚŝůĞ ƚŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚĞdž ĨĞůů

IN T EN EGIN S

Ϭ͘ϭй ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ůŽƐƐĞƐ ŝŶ hE/> s Z ;Ͳϰ͘ϬйͿ ĂŶĚ W ;ͲϮ͘ϰйͿ͘

KƵƚůŽŽŬ

GLA XOSM IT H

6.95

6.9%

WA P IC

0.45

4.7%

GT C O

13.7

0.6%

8.9

-9.4%

UP D C

0.99

4.2%

J A P A ULGOLD

R EGA LIN S

0.31

3.3%

IN T EN EGIN S

6.9

9.3%

F ID ELIT YB K

5.4

-2.0%

NA HCO

4.7

0.6%

OA N D O

4.4

0.5%

C UT IX

2.21

3.3%

N A SC ON

11.20

2.8%

0.95

2.2%

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

T o p 10 L o s e r s

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J A P A ULGOLD

P ric e 0.29

P ric e C hg % -9.4%

FCM B

4.60

-7.8%

R OYA LEX

0.76

-7.3%

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LIN KA SSUR E

0.46

-6.1%

UA C N

9.20

-6.1%

ĚŽǁŶǁĂƌĚƐ ŐƵŝĚĞĚ ďLJ ǁĞĂŬĞŶĞĚ ŝŶǀĞƐƚŽƌ ƐĞŶƟͲ

M B EN EF IT

0.33

-5.7%

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ST ER LN B A N K A R D OVA UN IT YB N K

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Value

A IR T ELA F R I

844.3

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477.2

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343.3

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310.0

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225.8

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1.52

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16.90

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59.0

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55.7

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-3.5%

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44.7

-3.3%

0.53

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THURSDAY, ΁˜ ͺ͸ͺͻ ˾ T H I S D AY

NEWS

REVIEWING PROPOSED DRAFT OF THE CREATIVE INDUSTRY BILL...

L-R : Senior Special Assistant to the President, on Strategic Communications, Ms. Oge Modie; Director General, Budget Office, Ben Akabueze; Director General, National Center for Art and Culture, Otunba Runsewe, Director General, Nigeria Tourism development Corporation, Folorunso Coker; Head Financing and Stakeholders management Team, Nigerian Communications Commission (NCC) Mrs. Aderonke Ogunsola and SSA to the president PHOTO: ENOCK REUBEN on Country Risk Assessment and Education, Col. Felix Alaita (rtd), during the MDAs Consultation Session to review the proposed draft of the creative industry bill in Abuja ... yesterday

MC Oluomo: Atiku Calls on INEC to Remove Lagos REC for Partisanship Emmanuel Addeh in Abuja The presidential candidate of Peoples Democratic Party (PDP), Atiku Abubakar, has called on the Independent National Electoral Commission (INEC) to immediately remove its Resident Electoral Commissioner (REC) in Lagos State, Olusegun Agbaje, for alleged partisanship.

In a statement by his Special Assistant on Public Communication, Phrank Shaibu, Atiku said it was curious that Agbaje was insisting on using the Lagos State Park and Garage Management Committee, headed by transport kingpin, Musiliu Akinsanya, aka MC Oluomo, who he said was a member of the presidential campaign council of All Progressives Congress (APC).

Atiku described as watery Agbaje’s excuse that INEC would not be able to use the National Union of Road Transport Workers (NURTW) and the Road Transport Employees Association of Nigeria (RTEAN) because they had been banned in Lagos State.

The statement said, “The law is clear that only a court has the power to proscribe an organisation. That was why the federal government had to go to court to proscribe the Indigenous People of Biafra (IPOB) and the Islamic Movement of Nigeria (IMN).

“What Governor Babajide Sanwo-Olu did in Lagos State was to arbitrarily announce a ban on the activities of the NURTW because the organisation suspended MC Oluomo, the APC’s henchman. INEC must not promote illegality by working

with a partisan organisation, which is filled with APC members that are working for Bola Tinubu.”

Atiku wondered how such clearly partisan persons could be allowed to handle such a sensitive task, stressing that it is unacceptable.

The former vice president said in the statement, “How could such people be given sensitive materials to be distributed across Lagos on election day? This has already undermined the possibility of a free and fair election. INEC must sanction Agbaje for insisting on using MC Oluomo’s committee, despite protests from members of the public.”

The PDP presidential candidate recalled that Agbaje was the REC who superintended over the “fraudulent” 2018 governorship election rerun in Osun State which the United States, the United Kingdom and the European Union also discredited.

He explained, “Recall that it was Agbaje who superintended over the fraudulent and violent Osun governorship rerun which produced Gboyega Oyetola as governor. US Consul General, John Bray was spot on when he stated: 'We witnessed what appeared to be incidents of interference and intimidation of voters and heard reports of harassment or party monitors, journalists and domestic observers.’”

The statement noted that even election monitoring groups, like the Centre for Democracy and Development (CDD), dismissed the Osun rerun as “fraudulent and anti-democratic”.

It said, “Unfortunately, it is the same Agbaje, who could not ef-

fectively supervise a rerun in a few polling units that has been given the task of superintending the election in Nigeria’s largest state with over 7 million registered voters. The election is doomed to fail if INEC doesn’t do the right thing by removing him.

“We remind the INEC chairman, Professor Mahmoud Yakubu, that this will be his last general election before the end of his tenure. We ask

A Chieftain of the ruling All Progressives Congress (APC), Mr. Gbenga Olawepo-Hashim, has said the failure to heed his earlier warning that there were indication that crude and narrow interests of the various power centres would determine the outcomes of primaries rather than what was best for the country might have put the 2023 election in a critical mess that could further entrap the nation.

In a release by his media office in Abuja, Olawepo-Hashim recalled that, "On the 1st of January 2022, we warned the nation to take more than a passing interest in primaries

of the major political parties, as that is where the real decisions about 2023 elections will be made.

"We added too that the indication is that crude and narrow interests of the various power centres will determine the outcomes of Primaries rather than what is best for the country. The purchase of delegates votes like onions and tomatoes, ethnic manipulations and religious bigotry may determine choices rather than the nation's Good.”

He, however, said despite "our warning, the scenario above was the process that triumphed as the two major parties and their candidates are not too different in public perception and consideration.

for Incompetence and Bigotry”.

He stated, “It is disheartening that the Lagos REC, Agbaje, has begun to show open partisanship.

We find it curious that it is the local governments considered as opposition strongholds that were unable to get their PVCs. “Historians and analysts have described this 2023 general election as a watershed. The destiny of over 200

million people is at stake. INEC says it is ready to deliver a credible and free election, but one weak link in the chain of command can undermine the entire process.

“We call on Yakubu to remove the Lagos REC, as his credibility is seriously in doubt. Again, we call on INEC not to use the MC Oluomo-led partisan organisation to distribute ballot papers on election day.”

Naira Scarcity: CIBN, BDAN Call for Calm, Say Regulator, Banks Working to Resolve Lapses Bank shut branches in Ogun to avoid attack Unions condemn attacks on banks, workers Police ban protest, rally in Kwara Nume Ekeghe, Ugo Aliogo in Lagos, James Sowole in Abeokuta and Hammed Shittu in Ilorin The Chartered Institute of Bankers of Nigeria (CIBN) and Bank Directors Association of Nigeria (BDAN) have pleaded with Nigerians to remain calm, stating that the banks and the regulator are working to address lapses associated with the naira redesign.

The CIBN and BDAN stated this in separate statements made available to THISDAY yesterday.

The Registrar/Chief Executive, CIBN, Akin Morakinyo, stated that the had seen the plight of bank customers and passionately appealed for calm

Olawepo-Hashim: Crude Self Interest Threat to General Election

Deji Elumoye in Abuja

him to protect his legacy by removing Agbaje if he insists that MC Oluomo must be the one to handle sensitive INEC materials. This election must not only be fair but it must be seen to be fair as well.”

Atiku noted that as of Wednesday morning, over 17,000 Nigerians had signed a petition on Change.Org titled, “Remove Olusegun Agbaje as the Lagos INEC Commissioner

"To prefer anyone against the other will be based on the self interest of the voter rather than public welfare. The third major candidate despite the energy and enthusiasm of a lot of young people invested in his campaign, seems to lack depth in political economy, national security and international relations, to be able to confront the myriad of issues confronting the nation."

The former presidential hopeful averred that, "We are in a mess right now because the leadership particularly of the two major parties approached 2023 issues on account of narrow self-interests rather than national interest."

and understanding.

He said the Central Bank of Nigeria (CBN) and the banks were working assiduously to bring the situation under control.

He stated: “We sincerely empathise with the banking public on the difficulties encountered in accessing the new naira notes which heightened tension and in some cases, provoked acts of violence at different customer touch points.

“Whilst we understand the plight of bank customers, we passionately appeal for calm and understanding as the regulator (the Central Bank of Nigeria) and the operators (the banks) are working assiduously to bring the situation under control.”

He added that relevant stakeholders within the ecosystem were being engaged with a view to addressing the unintended consequences of the laudable naira redesign policy.

“We beseech the general public to eschew any act capable of exacerbating the current situation and exercise restraint while we enjoin all our members to carry on their duties with utmost professionalism and diligence,” he added.

On its part, BDAN in a statement signed by the Chairman, Board of Directors, Mr. Mustafa Chike-Obi stated that the association was making it top priority to ensure that the hardship being faced by Nigerians was not only addressed but eliminated.

He said: “We, (BDAN) empathise with members of the public at this crucial time. We are mindful of the discomfort and hardship associated with the current currency reform which has introduced the newly

designed naira notes and reduction in withdrawal limit.

“It has indeed been a difficult period for Nigerians and BDAN is making it top priority to ensure that this hardship is not only addressed but eliminated.”

“We are in constant communication with all the banks and are assured that they are all doing whatever is within their control to normalise this difficult situation. We enjoin the banking public to maintain peace, rest assured that BDAN is taking all reasonable steps to influence the structure and mechanisms that should free up bottlenecks and open channels that will speed up the resolution of the crisis.

“BDAN hopes to count on the public's patience, understanding and cooperation.”

Meanwhile, commercial banks in Abeokuta, the Ogun State capital, shut down their premises against their customers following wild protests by some youths over scarcity of new naira notes and high cost of fuel.

When THISDAY visited Lalubu Street, the Abeokuta Central Business District(CBD), Sapon, Panseke and Ibara areas of the state capital, all banks premises were under lock and key while their ATMs were also not functioning.

Many of the banks, ATMs were attacked and vandalised by the protesters on Tuesday, forcing some staff to flee through the back exit for safety.

Armed security operatives were also sighted manning the banks, especially First Bank's branches, to secure them, having received the fiercest of attacks by youths protesting

the cash and fuel scarcity in the town.

It was gathered that the resolve to close banks premises, was sequel to a statement by the Bankers Forum, which went viral on social media, directing commercial banks, not to open for business yesterday (Wednesday).

In a related development, the Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) has condemned the unwarranted attacks on banks and its workers.

It noted that in lbadan, Oyo State, there was an attack on the properties and staff of five banks. ASSBIFI, in a statement signed by the National President, Olusoji Oluwole, said the attack was a fall out from the unverified social media reports accusing banks of being the sole cause for the unavailability of the newly redesigned naira notes.

The statement also noted that ASSBIFI had in the past, warned of this happening and had raised concerns about the safety of our members’ working in banks.

Oluwole lamented that the attacks had continued unabated as their members have been constantly abused, harassed and even threatened not to come out of their premises at the close of work, adding that the most visual evidence was the video of bank staff in Asaba, Delta State, having to run for their lives through a back channel.

According to him, “While we strongly condemn any sharp practices or acts inimical to the smooth disbursement of the new naira notes, Continued on page 57

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Kogi Governor's Wife, Rashida Bello, Nephew Charged With over N3bn Fraud Kingsley Nwezeh in Abuja The Economic and Financial Crimes Commission (EFCC), yesterday, arraigned Ali Bello, a nephew of the Kogi State Governor, Yahaya Bello, before Justice Obiora Egwuatu of a Federal High Court Abuja, who remanded him over alleged N3 billion fraud.

A statement by EFCC's spokesman, Wilson Uwujaren, said Bello was docked alongside Abba Adauda, Yakubu Siyaka Adabenege, Iyada Sadat, First Lady of Kogi State, Rashida Bello (at large) on 18-count charge bordering on criminal misappropriation and money laundering to the tune of N3,081,804,654.00.

Count one of the charge read: “That you, Ali Bello, Abba Adaudu, Yakubu Siyaka Adagbenege, Iyada Sadat, Rashida Bello (at large) sometime in June, 2020 in Abuja within the jurisdiction of this Honourable Court procured E- Traders International Limited to retain the aggregate sum of N3,081,804,654.00 which sum you reasonably ought to have known forms part of proceeds of unlawful activity to wit: criminal misappropriation, and you thereby committed an offence contrary to sections 18(a), 15(20)(d) of the Money Laundering Prohibition Act, 2011 as amended and punishable under section 15 (3) of the same Act.” Count 3 read, “That you, Ali Bello, Abba Adaudu, Rashida Bello (at large) sometime in November,

2021 in Abuja within the jurisdiction of this Honorable Court procured E-Traders International Limited to transfer the aggregate sum of $570,330 to account number no; 426-6644272 domiciled in TD Bank, United States of America, which

sum you reasonably ought to have known forms part of proceeds of unlawful activity to with: criminal misappropriation, and you thereby committed an offence contrary to section 15(2)(d) of the Money Laundering Prohibition Act, 2011

as amended and punishable under section 15 (3) of the same Act.” The defendants, however, pleaded “not guilty” to all the charges preferred against them.

In view of their pleas, Prosecuting Counsel, Rotimi Oyedepo, SAN,

case.

But Justice Egwuatu adjourned the case till 13 February, 2023 and ordered that the defendants be remanded in a correctional centre pending the determination of the bail application.

PSC, Police Set Up Separate Monitoring Teams for National Polls Commission warns officers not to serve as conductor for vote buying IG appoints VP Interpol to head monitoring team Kingsley Nwezeh in Abuja The Police Service Commission (PSC) and the Nigeria Police, yesterday, announced the setting up of separate election monitoring groups as the feud between the two agencies festered.

The PSC, however, warned police personnel against misconduct during the election and to avoid being used as conductor for vote buying.

A statement by the spokesman of the commission, Ikechukwu Ani, said the commission would deploy staff monitors to the 774 Local Government Areas of the country to monitor the conduct of police officers on election duties

during the 2023 general election holding Saturday, February 25th and March 11th 2023.

It said the commission had the constitutional mandate to discipline, and exercise control over officers of the Nigeria Police Force except the Inspector General of Police, amongst other constitutional responsibilities.

The commission said it "will monitor the conduct of these officers to ensure that they operate within defined rules of engagement prescribed for officers on election duties.

"The commission believes that the success or not of the 2023 general elections largely depends on how effective and efficient the

police, the lead agency in internal security are, and to maximise the benefits of inter-agency collaboration with other security agencies," it said.

The commission further stated that, "Guidelines on police conduct during the elections will soon be released by the commission to guide policemen, who will be involved in election security.

“The commission will also release dedicated telephone numbers where Nigerians will be required to call to complain or commend police officers during the elections."

It warned that police officers found negligent or involved outright in official misconduct would be disciplined in line with the provisions of the law.

I N E C A P P E A L S O S U N G U B E R N ATO R I A L E L E CT I O N T R I B U N A L J U D G E M E N T order of the Appeal Court to set aside the whole decision of the trial Tribunal and dismiss and/or striking out the Petition for want of competence and jurisdiction.

The electoral body said, the election petition tribunal erred in law by failing to consider and rule on the various preliminary objections filed by the 1st respondent challenging the competency of the petition and jurisdiction of the Election Petition Tribunal to hear the Petition but proceeded to determine the merit of the Petition.

Former Governor of Osun State, Gboyega Oyetola, and his party, the All Progressives Congress (APC), had faulted the declaration of the candidate of People Democratic Party(PDP), Ademola Adeleke, on 17th of July, 2022, by the electoral body as the winner of the July 16th governorship election in the state.

Oyetola said APC premised their petition with reference no: EPT/ OS/GOV/01/2022, on Adeleke’s eligibility to contest and over-voting and the Tribunal on 27th January, 2023 declared Oyetola as the validly elected governor of the state.

But the appellant said the Tribunal totally misconstrued Section 47(2) of the Electoral Act 2022, which must be read purposefully, communally and holistically to arrive at the true intention of the legislature and justice.

"The lower Tribunal erred in law, when they failed to consider and rule on the various preliminary objections filed by the 1st Respondent/Appellant challenging the competency of the petition and jurisdiction of the Election Petition Tribunal to hear the Petition but proceeded to determine the merit of the Petition.

On the particulars of error, INEC stated that, "It is trite in law that preliminary objections that touch on the competency of the petition and the jurisdiction of the Tribunal is a threshold issue, which must be determined before the Tribunal can assume jurisdiction to determine the merit of the petition.

"The preliminary objections filed by the 1st Respondent Appellant were adjourned to be delivered alongside the judgment on the Petition. iii. The Honourable Tribunal ought to determine the preliminary objections of the 1st Respondent before going into the merit of the Petition. iv. Failure of the Tribunal to consider and deciding the preliminary objections

urged the court to give a trial date to enable the prosecution to prove its case.

However, defence counsel, Ahmed Raji SAN, prayed the court to grant his client bail pending the hearing and determination of the

of the 1st Respondent/Appellant amounts to a denial of fair hearing and occasioned a miscarriage of justice as the objections would have terminated the life of the Petition in limine.

"The judgment delivered by the lower Tribunal for the conduct of the Osun state Governorship Election Petition Tribunal sitting at Osogbo on Friday the 27th day of January, 2023 is a nullity. The judgment is not a complete judgment of the said Election Petition. Tribunal Member 2 was one of the members of the said Tribunal, who heard the Petition but did not reduce her judgment or opinion in writing capable of being delivered on the day fixed for the delivery of the judgment.

"Each of the members of the Tribunal must express his/her opinion in writing. The judgment is a breach of Section 294 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended). The Judgment delivered by HON. TERTSEA AORGA KUME J. was jointly signed on the last page of the judgment by the Tribunal Member 2 RABI BASHIR (Chief Magistrate).

"Section 294 (1) and (2) of the Constitution of the Federal Republic of Nigeria does not admit of joint judgments. The judgment of the Tribunal herein is incurably a nullity for being in breach of the said Section 294 (1) and (2) of the Constitution of the Federal Republic of Nigeria.”

However, commending INEC, PDP in a statement by its Caretaker Chairman, Dr. Akindele, said the electoral umpire has lived up to the expectations of Nigerians in standing up to the defence of the country's electoral system, expressing faith in higher courts to establish the supremacy of BVAS machines above any other source on accreditation of voters.

Akindele noted that the decision of INEC has put paid to the lies being sponsored by the APC in the last few days, saying mandate usurper could only try but will not succeed.

"We really do not want to respond to the cheap lies of the APC, as it is now obvious to the good people of Osun state, especially the voting public, that the mandate thieves are afraid of their shadows. It is so bad that the lies that INEC will not appeal the scandalous judgement that tried to discredit BVAS machines in our elections emanated from APC lawyers, making it clear that they

know the evil they perpetrated at the Tribunal can not stand,” he said.

On its part, the Osun APC Acting Chairman, Sooko Tajudeen Lawal, in a statement, by the party's Director of Media and Information, Chief Kola Olabisi, said there was no point for the party to cast aspersion on the institution of the judiciary as handlers of the PDP at all levels have struggled to do since the tribunal affirmed that their party rigged the July 16 election.

Lawal stated that it defied rational thinking that the judiciary, which the rudderless PDP devoted their

time to lampoon each moment, over the tribunal judgement, was the same temple to which they are running helter-skelter to for appellate reliefs.

"The sit-tight Osun PDP caretaker committee chairman's resorting to branding Justice Kume as 'a coupist' who delivered 'a Buga judgement' and whose conduct manifested 'bias and personal animosity against the person of Governor Adeleke' is a testament of lack of decorum, exposure, civility and respect for rules of law of the frustrated savage from Ondo State," he said.

"Police officers are advised to restrict themselves to providing security during the elections and should not engage in serving as conductors for vote buying or other misconducts.

"The commission will continue to hold the police accountable for its conduct or misconduct during the elections as its contribution to deepening the nation’s democracy," he said.

In a separate statement by the Force Public Relations Officer and Chief Superintendent of Police (CSP) Olumuyiwa Adejobi, the Nigeria Police said the InspectorGeneral of Police, Usman Baba, approved the setting up of an election planning, monitoring and evaluation team for deployment across the states of the federation to identify, analyse and mitigate threats as well as carry out on-the-spot assessment and appraisal of the security emplacements ahead of the 2023 general election.

It said the IG also appointed the Vice President (INTERPOL) and Head, National Crime Bureau (NCB), AIG Garba Baba Umar, as the National Coordinator of the team of experienced and seasoned police officers with vast knowledge in election security management to be assisted by other team members including the AIG Force Secretary, AIG Habu Sani, CP Election Monitoring, CP Basil Idegwu, the Force Public Relations Officer, CSP

Olumuyiwa Adejobi.

The team comprised of seven other Commissioners of Police, 15 Deputy Commissioners of Police, 30 Assistant Commissioners of Police, 30 Chief Superintendents of Police, and 16 strategic officers of other ranks.

The statement stated that, the IG reaffirmed the establishment and viability of the electoral offences desks domiciled at the State Criminal Investigation Departments (SCID) of all commands across the nation headed by the Assistant Commissioners of Police in charge of the SCID. "The IGP, while reiterating the commitment of the police to ensuring that the elections are safe, secure, credible, and in line with global best practices, tasked the team to, amongst other things, ensure the propriety of deployments, give real-time coverage of the electoral process, and safeguard against hostile external and internal influence using Interpol, anti-cybercrime and intelligence tools and assets of the Nigeria Police Force.

"The Inspector-General of Police, therefore, calls on well-meaning Nigerians, international communities and all stakeholders to support the NPF teams in all areas, particularly on intelligence sharing and regular engagements, to achieve success in the 2023 general elections," the statement stated.

WAYS AND MEANS: IMF URGES CBN TO FULLY STOP FINANCING OF FG'S FISCAL DEFICITS overdrafts extended by the CBN to the federal government to finance annual fiscal deficits.

In a statement issued after its Executive Board concluded its 2022 Article IV Consultation with Nigeria, the IMF observed recent increases in the policy rate, but encouraged the CBN to stand ready to further increase the policy rate if needed, and to implement additional actions, including fully sterilising central bank financing of fiscal deficits and phasing out credit intervention programmes.

The IMF stated: "Strengthening the CBN’s independence and establishing price stability as its primary objective is critical. Directors also urged the authorities to finalise securitisation of the CBN’s existing stock of overdrafts and emphasised that the CBN’s budget financing should strictly adhere to the statutory limits."

According to the IMF, Nigeria’s economy has recouped the output losses sustained during the COVID-19 pandemic supported by favorable oil prices and buoyant consumption activities.

It stressed: "Gross domestic product (GDP) adjusted for inflation has already reached its pre-crisis level and the third quarter of 2022 marked the eighth consecutive quarter of positive growth—despite continued challenges in the oil sector. Growth is estimated at 3 percent for 2022.

"Headline inflation declined in December 2022 for the first time in 11 months, but at 21.3 per cent remains high—driven by elevated international food prices, large parallel market premiums and monetary policy accommodation. While the Central Bank of Nigeria raised the Monetary Policy rate (MPR) by a

cumulative 500 basis points in 2022 and another 100 bps in January 2023, inflation remains above the MPR." But it stated that despite rising oil prices, the general government fiscal deficit was estimated to have widened further in 2022, mainly due to high fuel subsidy costs, adding that while the current account was estimated to have improved in 2022, foreign currency reserves declined amidst capital outflow pressures.

The global lender observed that notwithstanding the authorities’ success in containing and managing the COVID-19 infections, socio-economic conditions remain difficult.

"The spillover effects of the war in Ukraine, which have been transmitted mainly through higher domestic food prices, worsened the scarring effects of the pandemic, particularly on the most vulnerable—with Nigeria being among the countries with the lowest food security.

"The near-term outlook faces downside risks, while there are upside risks in the medium term.

Higher international food and fertilizer prices and continued widening of the parallel market premium could culminate in the de-anchoring of inflation expectations," it added.

The oil sector, it pointed out, faces downside risks from possible production and price volatility, while climate-related natural disasters, including floods pose the same risks to agricultural production.

"Further widening in sovereign premia could increase debt servicing costs. In the medium term, there are upside risks from a potential stronger reform momentum and a larger-than-expected rebound in oil and gas production," the IMF

stated.

It welcomed the broadening of Nigeria’s economic recovery, but noted that the opportunity to reap the benefits from higher global oil prices was missed even as it underscored near-term downside risks arising from elevated inflation, high debt-servicing costs, external sector pressures, and oil sector volatility.

"Looking ahead, Directors recommended decisive fiscal and monetary tightening to secure macroeconomic stability, combined with structural reforms to improve governance, strengthen the agricultural sector, and boost inclusive, sustainable growth.

"Directors highlighted the need for bold fiscal reforms to create needed policy space, put public debt on sound footing, and reduce vulnerabilities.

"They urged the authorities to deliver on their commitment to remove fuel subsidies by mid-2023, and to increase well-targeted social spending. Strengthening revenue mobilisation, including through tax administration reforms, expanding the tax automation system and strengthening taxpayer segmentation, and improving tax compliance is also a priority.

"In the medium term, Directors recommended modernising customs administration, rationalising tax incentives and raising tax rates to the levels of the Economic Community of West African States (ECOWAS).

"Directors urged decisive and effective monetary policy tightening to avoid a de-anchoring of inflation expectations. Noting recent increases in the policy rate, they encouraged the Central Bank of Nigeria (CBN) to stand ready to further increase

the policy rate if needed and to implement additional actions, including fully sterilising central bank financing of fiscal deficits and phasing out credit intervention programs," the statement added.

The IMF encouraged a continued move towards a unified and market-clearing exchange rate by dismantling various exchange rate windows at the CBN. Providing clarity on exchange rate policy would help boost investor confidence, quell capital outflow pressures, and rebuild buffers.

It also welcomed Nigeria’s intention to participate in the African Continental Free Trade Agreement (AfCfTA), the resilience of the banking sector and encouraged increased vigilance given potential risks associated with dynamic retail credit growth.

The multilateral lenders also emphasised the need to enhance the effectiveness of the Anti-Money Laundering, Combating the Financing of Terrorism (AML/CFT) framework and to avoid public listing by the Financial Action Task Force (FATF).

While welcoming the ongoing efforts to foster financial inclusion, including through the use of mobile money with appropriate regulation and supervision, the IMF highlighted the importance of improving the performance of the agricultural sector for job creation and food security.

It urged the authorities to implement governance reforms, including delivering on commitments from the 2020 Rapid Financing Instrument, adding that improving transparency and accountability in the oil sector is also key to strengthening governance.

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NEWS

MAKING NIGERIA WORK...

L-R: Chairman of United Nigeria Airlines, Prof Obiora Okonkwo, OFR, presenting a copy of his recent book 'Making Nigeria Work... Pathways to Greatness', to the Italian Ambassador to Nigeria, Mr. Stefano De Leo, after a business lunch held at Satchmo Business Lounge, The Dome, Abuja... on Tuesday

Former Lagos Commissioner Backs Atiku’s Economic Growth Projections, Says $900bn GDP, $5,000 Per Capita Income Achievable Ex-VP 'll collaborate with states to develop mining sector, says PDP Goddy Egene An economist and former Lagos State Commissioner for Finance, Dr. Mustapha Abiodun Akinkunmi has said the $900 billion gross domestic product (GDP) growth projected by former vice president and presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, was achievable.

This was just as the PDP yesterday said its presidential candidate would collaborate with states of the federation in revamping Nigeria's mining sector.

Akinkunmi, who is a non-executive director of Moody’s Group/ GCR Credit Rating Company, said having gone through the economic blue print of Abubakar and the economic strategy he plans to adopt and given his past experience of the PDP presidential candidate, Nigeria’s economy could record such growth.

Akinkunmi stated these during an interview on Global Business Report on ARISE News Channel, a sister company of THISDAY Newspapers in Lagos.

Atiku had said if voted as the next president of Nigeria, he would grow the GDP from $400 billion to $900 billion, while per capita income would grow from $2,000 to $5,000.

However, Akinkunmi who had served as principal consultant to Central Bank of Nigeria (CBN), where he developed leading indicators of economic recovery and research on sustainable and pro-growth exchange rate policy among other things, expressed confident in the ability of Atiku to deliver on his promises and projections.

He said: “Atiku Abubakar plans to work with the private sector to grow the economy. A few things he is going to do: He’s going to raise the GDP to $900 billion. Per capita income to rise to $5,000 from $2,000. How this is going to happen is when the government moves away from infrastructure-focused projects and gets the private sector involved. His government is going to be private-sector driven, according to him. The private sector would

take leadership in his government.”

Akinkunmi said although the growth would not immediate but is very feasible, saying what happened in 1999 when Abubakar was elected vice president and supervised some economic reforms, can be repeated.

“I will take you back to 1999, we have the good news of MTN of N2 trillion. MTN came after 1999, we did a lot of reforms and we are seeing the benefits of those reforms.

After 1999, many of us returned, I came in from New York City because of the growth within a couple of years. Look at what President Joe Biden did with the United States in the last two years. He has created 12 million jobs, you have more jobs in the US than anywhere else in the world today. So, it’s about the commitment. Atiku Abubakar, when he led the economic team in 1999, there was double-digit growth, so what are we talking about? The numbers are there, numbers don’t lie.

However, if you vote in someone that shouldn’t be there, but I trust the Nigerian electorate, they will do the right thing,” he said.

Asked if the current high level of Nigeria’s indebtedness would not affect the performance of the incoming administration, Akinkunmi who had done extensive software development on quantitative analysis of capital markets, revenue and payment gateway, predictive analytics, data science and credit risk management, explained that he had looked at all three leading candidates and saw that Abubakar had passed through this route before.

“Abubakar has spoken about it, and written about it that work is going to stop or reduce the debt accumulation. He is going to look at the debt strategy, understand it and he is going to get the private sector. He keeps hammering on the private sector.

‘Let's look at the key infrastructure. So what we are dealing with here, we are dealing with a major issue. We are in trouble. We need to do the right thing. We need to get the right guy. We need to get the guy that got the plan to restore Nigeria. The man has done it before.

The others have plans but I have not seen how they will get it done,”

the economist said.

Speaking on the $10 billion stimulus fund for micro, small and medium enterprises (MSMEs) proposed by Atiku, he said it would go a long way to boost that sector that was seen as the engine for any economic growth.

According to him, apart from the $10 billion fund, Atiku also plans harmonise all other SMEs windows if voted into power.

“Currently, the CBN is doing their own, the Bank of Industries is doing their own, Bank of Agriculture is doing its own, his Excellency plans to harmonise all that. He is going to look at all government enterprises that are not making enough revenue to sustain themselves and find a way to hand that over to the private sector. So the idea is that he is going to fine tune strong fiscal

discipline,” he said.

Meanwhile, the PDP has said its presidential candidate, Atiku Abubakar, would collaborate with states of the federation in revamping Nigeria's mining sector.

The spokesman of the PDP Presidential Campaign Council, Mr. Charles Aniagwu, said Atiku and his running mate, Dr. Ifeanyi Okowa, are clear that industrialisation and exploitation of mineral resources would be given priority in their administration.

Speaking on "Focus Nigeria" on AIT Policy Dialogue with the theme: "Ending Illegal Mining in Nigeria," Aniagwu added that the PDP administration would collaborate with stakeholders in the mining industry particularly the states to make the sector work for the good of the country.

According to him, it would not augur well for the federal government to seat down in Abuja and grant licences through the Ministry of Solid Minerals to an individual without determining the quantity of the particular mineral resource in the place.

"In doing so, Atiku-Okowa recognised the provision of the Minerals Mining Act of 2007 particularly Chapter 1, Part 1 which states very clearly that ownership of solid minerals is vested in the Federal Government and this means the Federal Government is saddled with a whole lot of responsibilities including the implementation of the Act. "But Atiku says that in doing that he is going to collaborate with states just as he has also said that he will devolve powers so that

in granting licences to determine who should be involved in mining activities and how such products will be marketed, that the states should be carried along.

"It is not enough to collect royalties for licences without determining the quantity of deposits in that environment, Atiku said he would not operate like that because it will not give value to the federation.

"Atiku believes that just the same way petroleum products is giving us resources and helping us run our economy, the same way solid minerals should be able to play a very critical role and for that to happen, key stakeholders must be critically involved to perform their roles to ensure the success of the sector.

Continues online

Again, Afenifere Leader Drums Support for Peter Obi Calls for financial support for Labour Party presidential candidate Sunday Ehigiator Leader of the Yoruba sociocultural group Afenifere, Chief Ayo Adebanjo, yesterday stressed the need for Nigerians to vote for the presidential candidate of Labour Party, Mr. Peter Obi, in the forthcoming election.

He said this comments while addressing members and friends of Ohaneze Ndigbo Worldwide socio-cultural group, during the tribute ceremony organised in Lagos, to honour the late President General of the Group, George Obiozor who died in December 2022, at the age of 80.

In his address, Adebanjo emphasised that the Igbo presidency shouldn’t be seen as a favour to the people from the south-east, but rather a right, which was agreed to by every tribe and enshrined in the country’s federal character.

According to him, “When the call came and they told me that George passed on, I said wow, not now!

“You see, we are in a battle to save this country from the great

oppression of many years and there are very few people who can stand up and be counted. Obiozor was one of them.

“These days, I don't fancy people who talk about a Nigeria united in peace and not in action.

“Many people, even among the Igbo, pay lip service to a united Nigeria, and they are indifferent to our oppression because they give them some fringes from the table.

Obiozor was not one of them.

“He (Obiozor) was a distinguished scholar, an ambassador par excellence, an intellectual of international repute; a qualified and distinguished Nigerian of whom, when we mention people who gave this country recognition and respect, you cannot miss George Obiozor.

“He is one of our points of pride and I believe he is not one of those who should have gone now when we are in the middle of a great battle.

“Unfortunately, you Igbos have not been giving us enough financial support. You have not been giving Obi financial support, I am challenging you openly.

“We are suffering from financial support. Those of us who are supporting Obi are poor people. I know you Igbos, you have billionaires in your midst, this is when to spend your money for a good cause.

“Obi must not suffer for anything financially in this course when you people are around. It would be a great shame and I have told you people in private and that is one of the reasons I am missing Obiozor.”

Speaking further, the elder statesman said: “Obiozor was a man of courage, a man who will call a spade a spade, very diplomatic, courageous and distinguished. I hope we would have more and more of him in Igbo land to contribute to this struggle to keep Nigeria as a united country in peace.

“It is a cause that you must fight for, don't be shy about it. I understand many of you may be saying it is your turn, it is your constitutional right, and it is not a favour. I have been saying this long ago, it is not a favour.

“And when people say thank you to me, you are thanking me for what? This is the condition under

which we came together in 1960. It is a condition our leaders, Azikiwe, Sultana and Awolowo, agreed to before we became Nigeria.

“We were not colonised as Nigeria, we were colonised as Igbos, Yorubas, Hausas, Ijaws, Ibibios and all that. We came together and we agreed that to live in peace, these are the conditions.

“And what are the conditions: The thing that binds us together must be held in rotation and autonomy for the regions. That was all the cause of restructuring that we must have.

“We must have regional, cultural, local government, education, agricultural autonomy and all that, but the only thing that could bind us together, which we agreed, is that the presidency must be held in rotation. Therefore, there is a federal character in the constitution.”

“When my people came to me and asked me to support a Yoruba man, I said no! The presidency is not between the Yoruba and the Igbos, it is a Nigerian matter and we have agreed to be having it in rotation.”

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METAVERSE FORUM...

L-R: Extended Reality Film Director and AI artist, Malik Afegbua; Head of Public Policy for Anglophone West Africa at Meta, Adaora Ikenze; Director General, Nigerian Tourism Development Corporation, Folorunsho Coker, and Senior Lecturer and XR Researcher at Lagos Business School, Dr Eugene Ohu, at the Metaverse Forum organised by Meta in Abuja…yesterday

INEC: Violence Threatening 2023 General Election National assembly flays CBN naira note policy Yiaga Africa makes case for three million disenfranchised students Sunday Aborisade in Abuja The Independent National Electoral Commission (INEC), yesterday, said violence remained a major challenge to the successful conduct of the 2023 general election.

The INEC National Commissioner, May Agbamuche, who represented the Chairman of the

Commission, Prof. Mahmood Yakubu, stated this at a one-day special hearing on "The Extent of Implementation of The Electoral Act, 2022 Ahead of The Conduct of The 2023 General Election."

Agbamuche said violence could affect the credibility of the elections especially now that the attacks were targeted at INEC facilities, saying,

"With the General Election at hand, it is important to remind you all of the Commission's commitment to free, fair and credible elections.

"Our preparation is however fraught with challenges. There is no doubt that violence and threat of violence are major challenges to credible election im 2023. Violence makes deployment for elections

Obasanjo Hosts ADC Leaders, Says Global Attention on Nigeria Party to announce possible alignment in next 72 hours James Sowole in Abeokuta Barely two weeks to the presidential election, former President Olusegun Obasanjo, yesterday, hosted a closed-door meeting with the national leadership of the African Democratic Congress (ADC), who came to seek his advice on the forthcoming election.

Led by its National Chairman, Chief Ralp Nwosu and Chairman of the party's Board of Trustees (BoT), Mani Ibrahim, the team, which included all members of the party's National Working Committee (NWC), said not only the ADC that was at a crossroads but Nigeria as a whole.

In a brief remark that preceded the closed door meeting, held at the Penthouse of Olusegun Obasanjo Presidential Library (OOPL), Obasanjo said the global community, particularly, the West African countries of Ghana, Togo and Cote d'Ivoire, were seriously concerned about what will be the outcome of the forthcoming election.

Obasanjo, who just returned from an official engagement in West African tour, emphatically declared that Nigerians must strive towards giving their best and ensuring that the forthcoming general election held.

He said some stakeholders, had suspended their activities in the sub-regional organisation, until after the Nigerian election.

"As you rightly said, we are in a critical period in Nigeria. In less than three weeks, we will be going to the poll to elect our leaders that will pilot the affairs of this country

for the next four years from May and I hope nothing intervenes.

"I have been in Togo, Ghana and Cote d'Ivoire from the beginning of the week and from there, they are concerned about what happens in Nigeria as every Nigerian knows.

Before I left Abidjan, President Alassane Quattara of Cote d'Ivoire was telling me about a position that Cote d'Ivoire is fighting for and he told me that, ‘we are putting it on hold until after Nigeria's elections’.

"So, even for them, Nigeria's elections is of utmost importance.

My belief is that for us, who are directly involved, we cannot take it any less important. Therefore, I understand why you are here. Your party is one of the most important political parties in this country, today, and it doesn't matter how things are. Therefore, I understand why you're here.

"You're also here as a family. We are all in Nigeria, we are a family and therefore, when we gather together, we can always discuss as members of the same Nigerian family. But what is of concern to Nigeria and on that note, we will now go on and talk as a member of the Nigerian family."

Speaking with journalists after the meeting, Mani said the ADC leadership, visited Obasanjo, to consult him on alignment and realignment, that would happen, before the end of this month.

Mani, who said the period for merger among political parties was over according the the Electoral Act, added that the ADC, would come up with its decision in the next 48 to 72 hours.

He said, "The time stipulated for merger by the provision of the Electoral Act, had expired. What we can do is collaboration. We have not come for a definite position but our party is looking for the way forward. We are still consulting and within the next 48 to 72 hours, we should come out clearly."

difficult particularly, where some of the attacks are targeted at INEC facilities, the electoral process and participants.

"However, the Commission has been working with security agencies and other stakeholders to establish mechanisms to understand, track and mitigate security challenges. We are working collaboratively in the context of Inter-Agency Consultative Committee on Election Security (ICCES).

"In all, we feel assured by the actions we have taken and our collaboration with the security agencies. The 2023 general election will proceed as planned. There is no plan to postpone the election.”

Nevertheless, the National Assembly has said the current naira redesign policy could affect negatively, the conduct of the forthcoming polls.

Chairman, Senate Committee on Judiciary, Human Rights and Legal Matters, who is also a member of the Joint National Assembly Committee on Electoral Matter, Senator Opeyemi Bamidele, stated this at the public hearing.

Bamidele said, "The CBN told us at the beginning of the policy that the targets were the so-called moneybags, who stashed away billions in their closets. We thought those are the people they wanted to get at.

"We have now seen that it is the ordinary man on the streets. They are sleeping in the banking hall because they cannot have access to the little money they have. We must understand the political economy of an electoral process.

"People are thinking of the money politicians would spend on vote buying, they don't know that political parties would also mobilise people to all the polling units as agents, just like the INEC would mobilise personnel also.

"Today, the CBN is assuring Nigerians that it would provide money for INEC if they need more money. Are we saying that INEC must rely on the intervention of the CBN for it to perform? If the police run into logistics problems, they would also run to CBN for selective intervention.

"We are fighting Boko Haram, if

the military authorities could not access funds from their banks, they will also need to approach the CBN for selective intervention. These are issues and as a stakeholder, the CBN is the most outstanding threat to these elections holding as scheduled.”

Meanwhile the Executive Director of Yiaga Africa, Mr. Samson Itodo, has urged the INEC to reconsider its stand on the three million students who could be disenfranchised in the forthcoming polls.

Itodo, in his submissions at the public hearing, disagreed with the position of INEC that it could not help the situation. Rather, he said the electoral umpire could appeal to the various tertiary institutions, which had slated their examinations for the period of the election to cancel such arrangement.

In his reaction, Chairman, Senate Committee on the INEC, Senator Kabiru Gaya, appealed to the INEC management and the authorities of the affected institutions to respect the rights of the students by cancelling any examination slated for the election period

NCC-CSIRT Issues Advisories to Protect Nigerians against Threat Actors Emma Okonji The Nigerian Communications Commission (NCC), through its Computer Security Incident Response Team (NCC-CSIRT) has rolled out some advisories, as cyber threat actors continue to devise means of compromising their targets.

The latest of such advisories urged users to be mindful after attackers use Microsoft OneNote attachments in phishing emails that infect victims with remote access malware, which may allow hackers to remotely access vital information on victims' devices.

The team advised users not to open files from people they do not know, not to click ‘OK’ and immediately exit the application if they receive a warning that opening an attachment or link can damage their computer or files and to promptly share an unknown email they believe to be genuine with a

security or Windows administrator to assist in determining whether the file is secure.

It had recently advised people not to open attachments in suspicious emails and to only purchase or download applications from official websites in response to the discovery of phishing malware that could gain unauthorised access to sensitive user data and download further malware.

The team reported that cybersecurity analysts at South Korea’s cybersecurity emergency response centre, discovered a NetSupport RAT malware being distributed by threat actors from a phishing website disguised as a popular Pokemon card game.

The malware is a remote access tool that easily controls its victims' Personal Computers and may allow the attackers to remotely control the compromised computer’s mouse and keyboard, access the system’s

file management and history and even execute commands allowing them to install additional malware.

According to the researcher, the CRAFTED website that spread the malware is still online. It claims to be home to a new NFT card game built around the Pokemon franchise, offering users strategic fun together with NFT investment profits.

In a related advisory, following the discovery of several phishing apps on the Google Play Store, NCC-CSIRT had also advised users not to give out sensitive information through untrusted platforms.

NCC-CSIRT’s advisory on the discovery said the apps, which have been downloaded 450, 000 times in total, can be games or investment services, but that they are designed to steal sensitive user information.

While some of the malicious apps have been removed, others are still active on the store, with the affected apps listed as Golden

Hunt, Reflector, Seven Golden Wolf Blackjack, Unlimited Score, Big Decisions, Jewel Sea, Lux Fruits Game, Lucky Clover, King Blitz, and Lucky Hammer.

According to the advisory, after installing and opening the app, it will contact a remote server which will reply with instructions on what to do. These instructions typically include phishing pages that will be displayed to unsuspecting users to collect their sensitive information.

Meanwhile, NCC-CSIRT also advised users to update their Galaxy App Store following the discovery of multiple vulnerabilities in the Samsung Galaxy App Store Application can lead to unwanted app installations and code execution. It disclosed that Ken Gannon, a cybersecurity researcher from NCC Group, discovered the vulnerabilities in the Galaxy App Store application on Samsung devices that are running Android 12 and older.

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OGUN COUNCIL OF OBAS MEETING...

L-R: Ogun State Governor, Dapo Abiodun; Chairman, Ogun State Council of Obas and Paramount Ruler of Remoland, Oba Babatunde Ajayi; Olu of Ilaro and Paramount Ruler of Yewaland, Oba Kehinde Olugbenle; Alake and Paramount Ruler of Egbaland, Oba Adedotun Gbadebo and Orimolusi of Ijebu-Igbo, Oba Lawrence Adebajo who represented the Paramount Ruler of Ijebuland, Oba Sikiru Adetona after the Statutory Meeting of the Council of Obas in Abeokuta...on Tuesday

AGF: FG STUDYING SUPREME COURT RULING HALTING ENFORCEMENT OF CASH SWAP DEADLINE that just about six weeks ago (on 02/12/22) the SCN held in the case of Adedeji & ors. v CBN that CBN is independent by law and can't be controlled by FGN.” On whether the apex court ruling could create confusion, Ajayi said, "I do not see confusion in the decision of the Supreme Court of Nigeria.

The Supreme Court, which in its wisdom stayed the hands of the litigants before it, only being the federal government, Kogi, Kaduna and Zamfara states.

"As you knowM the Supreme Court is our final court and has the final say amongst all courts, hence, we must not begin to see confusion because a high court had given an order against parties before.

"The Supreme Court is very careful not to assume original jurisdiction as it has done in this matter. The CBN is not a party and Supreme Court never allows a court to grant an order against a person not before it; not sued or not heard.

“In effect the CBN is free to carry on with its policy on currency taken in accordance with the plenitude of its powers under both the CBN Act and Currency Control Act.”

Tinubu, Wike Hail Ruling

The presidential candidate of APC hailed governors of the 36 states for what he described as standing on the side of the Nigerian people over the CBN cash swap deadline.

Tinubu, in a statement issued by Director, Media and Publicity, APC Presidential Campaign Council (PCC), Bayo Onanuga, said the governors, especially the APC governors who instituted the suit against the CBN and federal government at the Supreme Court, acted well on behalf of the hapless Nigerians who had been made to bear the brunt of the naira redesign policy.

Tinubu was quoted as saying in the statement that the governors had saved the country from a needless political and economic crisis and misery, “which have clearly become the unintended consequences of the monetary policy of the apex bank.”

The former governor of Lagos State noted that the Supreme Court ruling coincided with the advisory of the International Monetary Fund (IMF) urging for the extension of the deadline for the swap of the old naira notes, going by the problems being experienced across the country in getting the new notes.

Tinubu Stated, "I want to salute the courage of our governors and most especially the Progressives Governors in APC who acted to save our country from avoidable and dangerous political crises and social unrest which the central bank policy on new naira notes has brought on our country.

“Our country was dangerously careering toward anarchy and political and economic shutdown. But with the Supreme Court interim ruling our country has been pulled

back from the precipice. We thank our Supreme Court Justices for ruling wisely on the side of the people who have been subjected to undue agony and pains since this policy was announced."

Tinubu stressed that the federal government and relevant stakeholders could now sit down and work out a better framework on how to proceed with the new policy without causing any social and economic disruption and inconvenience to our people.

He noted that there were examples of other countries that had successfully and seamlessly changed their currencies to learn from.

Tinubu added, “Those countries give a long time, at least 12 months to effect the currency change. They do not engage in CBN-like Fire Brigade approach.

"We have seen how a good policy can be poorly implemented to cause unintended problems for the people who should be the beneficiaries.

While lessons have been learnt, we must now move on as a country and people with a Renewed Hope for a better tomorrow."

Tinubu pointed out that the sole aim of his decision to run for the position of the president of the country was to make life better and more abundant for the people, saying this is the ideal he would remain eternally committed to.

He called on the CBN to ensure that the Supreme Court ruling was effectively executed by taking all necessary steps to: (i) ensure sufficient availability of naira notes (whether old or new) and (ii) properly sensitising the public on the ruling and the consequent validity of old naira.

Wike also lauded the Supreme Court ruling, saying it saved the country's democracy.

Wike made the commendation yesterday, during the State Peoples Democratic Party (PDP) campaign flag-off rally held in Abua, Abua/ Odual Local Government Area of the state.

The governor stated, "I want to, on behalf of the Rivers State Government, commend the Nigerian Supreme Court for what they have done today (Wednesday) to save the masses of this country and to save democracy.

"Today, the Supreme Court has stopped the CBN from embarking on stopping the old Nigerian Naira notes from circulating."

The Rivers State governor noted that the intervention of the Supreme Court was timely, stressing that there are elements who are hell bent on derailing the ongoing democratic process.

The governor also declared that the Rivers State government would join the three northern states in the suit, challenging what the CBN was doing, just as he commended the governments of Kogi, Kaduna and Zamfara for the steps taken so far.

Wike stated, “And let me commend my brother states like Kogi

state, like Kaduna, like Zamfara state who took it upon themselves to go and challenge the federal government at the Supreme Court.

"I also want to say that the Rivers State government will join them in that suit to challenge what the CBN is doing. We will not support anything that will go against the masses, anything that makes the masses to suffer.”

Wike reiterated that the survival of the country's democracy rested, to a large extent, on critical agencies of government expected to live up to their statutory obligations.

He said, "I have said before, this democracy can only survive with the support of INEC, with the support of security agencies and with the support of the judiciary. With what happened today, the Supreme Court has shown that the hope of the common man lies on the judiciary."

PDP Alleges Fresh Moves to Use APC Lawmakers to Disrupt Elections

PDP alleged fresh moves by the PCC of the APC to derail the 2023 general election and put the country's democracy in jeopardy.

National Publicity Secretary of the party, Hon. Debo Ologunagba, in a statement issued yesterday, stated that there was credible intelligence of how Tinubu allegedly directed his cronies in the National Assembly to reconvene plenary and use the legislative chambers as platforms to promote incendiary speeches with a view to overheating the polity and making it appear unconducive to conduct elections in the country.

The main opposition party said the moves by the APC campaign to allegedly use certain compromised members in both Senate and House of Representatives to create tension in the polity and derail the conduct of the elections.

Ologunagba stated, "This is in furtherance of the alleged scheme by the APC presidential campaign to use all means, including APC leadership of the National Assembly, to orchestrate security situations that will justify its reported demands to postpone elections as a prelude to the derailment of the electoral process, having realised that it has no chance in the elections.

"Our party has been made aware of a deceptive design by the APC leadership in both chambers of the National Assembly to reconvene plenary under the guise of being concerned about the hardship faced

by Nigerians due to the scarcity of new naira notes induced and aggravated by the exposed sinister diversion of new naira notes by the Tinubu campaign."

The party spokesperson alleged that further information indicated that the APC campaign was reportedly intercepting new naira notes for vote buying purposes, and had also directed the APC leadership in

the National Assembly to use their legislative instruments to pressure and compromise financial institutions to succumb to their cash diversion agenda.

He added, "Nigerians can now note the real motive behind the recent statement credited to the APC leadership of the National Assembly where it attempted to justify its plan to reconvene the National Assembly at this time.

"If, indeed, the APC leadership of both chambers of the National Assembly are concerned about the biting cash scarcity, we challenge them to publicly condemn the reported plot by APC leaders and its presidential campaign to clandestinely swap a whopping N22.5 billion in old N1000 notes for new ones in Kano and Lagos states for the purpose of vote buying."

PDP also challenged the APC leadership of the National Assembly to commence an investigation into the alleged N22.5 billion fraudulent cash swap report if truly it was concerned about the suffering and anguish Nigerians are facing in accessing the new Naira notes.

Ologunagba said it was instructive to note that the Tinubu campaign was yet to deny the reported N22.5 billion cash swap for vote buying, but instead, it resorted to hauling of insults and lame diversionary claims.

Nigerians Must Resist Plot to Undermine 2023 Elections, Says Labour Party

National Chairman of Labour Party, Mr. Julius Abure, called on Nigerians to resist any attempt by the APC governors to arm twist Emefiele to backpedal his stance on the deadline for the cash swap. Abure said this yesterday, in an exclusive interview with THISDAY, after the ruling by the Supreme Court.

Abure said CBN was charged with the responsibility to make regulations on monetary policies and it was within the prerogative of the apex bank to make such decisions.

He said, "I don't see why the Supreme Court should go against what the law has clearly established.

It is within the powers of the CBN governor to regulate monetary policies in the country. And he has only exercised that power. It is a power that is exclusively reserved for the CBN and the federal government to exercise.

"That APC governors, who called themselves progressive governors, went to challenge a policy that well-meaning Nigerians have so far commended, shows that their action was born out of the fact that they want to manipulate the 2023 election with vote buying which has become a cankerworm in our political system.

"It's a deliberate attempt to compromise the 2023 elections.

I think that every right-thinking Nigerian should resist it. For us,

we have already submitted our old naira notes and we are comfortable with the policy.”

IMF, World Bank Urge CBN to Extend Deadline

In the face of the challenges associated with the cash swap, the International Monetary Fund (IMF) and the World Bank advised the CBN to consider extending the February 10 deadline earlier slated to stop the use of the old banknotes as legal tenders.

The IMF Nigeria Country Office, in a statement said, "In light of hardships caused by disruptions to trade and payments due to the shortage of new bank notes available to the public, in spite of measures introduced by the CBN to mitigate the challenges in the banknote swap process, the IMF encourages the CBN to consider extending the deadline, should problems persist in the next few days leading up to the February 10, 2023 deadline."

On its part, the World Bank in a statement yesterday, noted that “periodic currency redesigns and demonetisation of older notes are normal internationally. However, they usually involve transition periods of one year or longer so as to minimise economic disruption.

“After the CBN announced the naira redesign on October 26, 2022, with a short implementation timeframe through January 31, 2023 (now extended for a short additional period until February 10, 2023), the World Bank expressed concern about the timing and short transition period.

“This concern is based on international experience which suggests that rapid demonetisations can generate significant short-term costs, with small-scale businesses, and poor and vulnerable households, including in rural areas, being particularly affected as they are liquidity-constrained and rely heavily on day-to-day cash transactions.

“It is highly unlikely that digital payments can increase quickly enough to compensate for the shortage of new notes; according to the latest available data (from before this policy), only 45 percent of Nigerian adults had a bank account, 34 percent reported paying or receiving money digitally over the past year, and only nine percent made an in-store payment by digital means.

“In view of the apparent ongoing scarcity of new notes, and the potential adverse economic and social impacts should the shortage of cash persist, the World Bank remains concerned about the short timeframe and would encourage the authorities to consider allowing a longer period for the redesign.”

ACJHR Faults Supreme Court Ruling

A civil society organisation, African Centre for Justice and Human Rights

(ACJHR), yesterday, warned that the Supreme Court ex parte order temporarily halting the move by the federal government to ban the use of the old naira notes from February 10, could derail the credibility of 2023 election, if not vacated.

The group expressed the fears in a statement by its strategic communication consultant, Abubakar Isa, made available to THISDAY in Abuja.

It lamented that despite President Muhammadu Buhari's resolve to deliver credible polls and peaceful transition, some vested interests and greedy politicians were hell bent on ensuring this doesn't come to pass.

The group urged the CBN to file urgent preliminary objection on jurisdiction ground so that the apex court could vacate this order.

The statement read in part, "Just two days ago we hailed the high court order restraining the Central Bank of Nigeria, Godwin Emefiele and twenty-seven listed commercial banks from suspending, stopping, extending or interfering with the currency redesign terminal date of February 10th.

"This order of the court which we thought has rendered futile all behind the scene efforts especially by governors of some states to force the hand of the president to reverse the policy is being overruled by the Supreme Court.

"The behaviour of Justices of supreme court lately is quite questionable. One wonders if the judiciary is actually the last hope of the common man or last hope of the elite. We urge the Central Bank of Nigeria (CBN) to file urgent preliminary objection on jurisdiction ground so that the apex court can vacate this order."

Group: Political Parties Threatening Election Boycott Insensitive

A group, The Natives, yesterday described the threat by 13 political parties to boycott the 2023 general election if the CBN extend the deadline for the cash swap beyond February 10 as insensitive to the plights of Nigerians.

Thirteen political parties had issued the warning while addressing a press conference in Abuja, on Monday.

They said the policy would enhance the credibility of the 2023 election.

But responding in a statement issued yesterday, the President General of The Natives, Hon. Smart Edwards, condemned the action of the political parties.

The group also described the political parties as agents of sabotage, stressing that they are unmindful of the suffering of the Nigerian masses as a result of CBN current policy.

It added that no prominent and well rooted grassroots political party would support a policy implementation that was inflicting hardship on Nigerians.

Continues online

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NEWS

RESILIENCE SUMMIT…

L-R: Chief Executive Officer(CEO), Alibaba Hicuppuray3rd, Alibaba Akpobome; CEO of Stephredd Solutions and Convener of UR3; Stephanie Kadiri StephREDD, and Abu Dhabi-based International Coach Federation (ICF) certified coach, Maazza Almagthob, at the fourth edition of the Unveil, Review, Redefine and Relaunch (UR³) resilience summit in Ikoyi, Lagos…recently

Group Urges EFCC to Return Alleged Diverted NDDC Fund Udora OrizuinAbuja A civil society group in the anti-corruption fight, known as Act for Positive Transformation Initiative (APTI), has called on the Economic and Financial Crimes Commission (EFCC), to return all monies it collected from oil producing companies in the Niger Delta on behalf of the Niger Delta Development Commission (NDDC) from 2020 to date to the commission.

The group, which stated this at a media briefing yesterday in Abuja

also gave the anti graft agency a seven day ultimatum to return the funds it allegedly collected but didn’t remit, and stop further collection going forward.

The Director in charge of Research, Strategy and Programming of APTI, Mr. Kolawole Johnson, who briefed the media recalled how his organisation in collaboration with other NGOs carried out extensive research and investigation of the rot in the NDDC under previous managements which ran without a legitimate board in place.

Diri Kicks Off Third Anniversary with Inauguration of Health, Transport Projects Olusegun Samuel inYenagoa Activities marking the third anniversary of the Governor Douye Diri’s administration in Bayelsa State with the inauguration of two projects.

The projects are the Bayelsa Health Insurance Scheme (BHIS) Complex and the Bayelsa State Transport Terminal at Igbogene.

The Senator Diri administration will be three years in office on February 14.

A statement issued by the Chief Press Secretary, Mr. Daniel Alabrah, quoted the governor as saying during the 100th state executive council meeting in Government House, Yenagoa, that several other legacy projects across the state would be inaugurated by prominent Nigerians as part of

the anniversary activities.

The projects include the dual carriage way from Igbogene to the Tombia-Amassoma road, which the governor said his administration would award its second phase that would get the road to Onopa.

Governor Diri equally assured the people on the completion of the three senatorial road projects, saying the Bayelsa West Senatorial District road construction had reached Ekeremor and would also be inaugurated during the third anniversary.

According to him, “this administration does not play politics with development. For us, whether there is a refund from the federal government or not, we are going to construct these roads for the use of our people.”

Lagos First Lady Holds Parley with Professional Women Segun James

As the general election draws to a critical point, Lagos State First Lady, Dr. Ibijoke Sanwo-Olu yesterday had a sensitisation parley with women drawn from various professional organisations and groups in the state, saying it was important for all of them to get fully involved in the forthcoming general elections.

Mrs Sanwo-Olu, who said this at Lagos House, Marina, stressed that the parley became imperative in view of the need to sensitise female stakeholders to matters regarding the 2023 general elections, particularly on the proper usage of the Permanent Voters Card and the Bimodal Voter Accreditation System (BIVAS).

According to her, “As

explained by the Independent National Electoral Commission (INEC), BIVAS is a technology that integrates the three-stage voting process.

“It is an integrated device that is multifunctional in nature, which serves as Voter Enrolment Device (IVED) during voter registration, voter accreditation on Election Day and also functions as INEC Results Viewing Device (IReV Device) to be used for election results upload on Election Day.” She added that the initiative of the parley was also aimed at providing a platform for interaction between candidates and the people, thus paving the way for mutual understanding which was essential to drive inclusive growth and wellrounded development.

The statement reads: “Against the backdrop of the enabling law regulating the administration of the Niger Delta Development Commission’s funds and assets, the Federal Government through the Economic and Financial Crime Commission has since 2020 engaged in financial illegalities

that are daily shortchanging the Commission and the people of the Niger Delta region.

“Believing in the anti-corruption mantra of the federal government, a coalition of civil society organisations working with APTI launched a campaign for probity and accountability on the Niger Delta

Development Commission in the year 2020. Thus far, the campaign has merely exposed the present administration as one that only pays lip service to the war against corruption as it has failed to take any deterrent steps despite the volume of evidence presented.

Rather, the government took

advantage of the campaign to engage in systemic feasting on the Commission’s resources. The Act establishing the Niger Delta Development Commission, without ambiguity, gave the Commission the exclusive power to determine how its assets and funds are to be held and regulated.

‘Violence against Women, Men on the Increase’

GbengaSodeinde

The need for gender equality policy between women and men as a way to put a stop to violence against women and children, has been stressed.

According to the President and Founder of Women in Mining in Nigeria, (WIMIN) Janet Adeyemi, the gender inequality particularly violence against women and children still remain a source of

concern in Nigeria, as “it’s on the rise every day.”

Adeyemi spoke yesterday in Ado Ekiti, the Ekiti State capital during the Women In Mining In Nigeria Research Validation and Policy Dialogue.

The WIMIN president who was represented by the group’s Programme Coordinator, Dennis Deloraine said: “Gender equality is something we are yet to fully attain in Nigeria but from my experience

and observation, we are working and close to getting there.”

Her words: “But there is still much work to be done in the solid mineral and other sectors. Women rights are still being violated and their voices are taken away. However, this is a new dawn.

“The fight for gender equality in the mining sector is no more the women’s but a global issue.

Nobody wants to reckon or identify with a society that has no respect or

concern at the least, for its women and children.

She said the essence of the workshop was to receive expert opinions and judgment from stakeholders and actors to validate that, there is actually sexual and gender based violence in the state solid mineral sector and also to elicit commitment from the stakeholders such as Ministry of Justice and security agencies who will get certain information.

Abia Halts Move to Convert Aba into Emirate Emmanuel Ugwu-Nwogo in Umuahia

The Abia State government yesterday halted a move by some Northerners to convert the commercial city of Aba into an Emirate Council with an Emir on the throne.

The Secretary to the State Government(SSG), Mr. Chris Ezem raised the alarm over the plan in a statement he issued in Umuahia.

He said that government was aware of “a proposed coronation of one Sarki Shehu Bello II as the Emir of Aba Emirate without recourse

to government”.

“Government wishes to warn all involved in this unauthorized and illegal coronation to stop forthwith or be prepared to face the full weight of the law,” he said.

“Government hereby directs the immediate cancellation of the proposed illegal coronation as there

is nothing like Aba Emirate Council in the State,” the SSG added.

He urged all residents of Abia, especially those residing in Aba to be law-abiding, adding that the law enforcement agents have been directed to swing into action and ensure that no coronation took place.

Coalition Demands Extension of PVCs Collection in Lagos to February 12

Adedayo Akinwale in Abuja

The coalition of Civil Society Organisations (CSOs) has demanded that the Independent National Electoral Commission (INEC) extend collection of Permanent Voter Cards (PVCs) in Lagos to February 12, 2023.

The collection of PVCs came

to an end on February 5, after the electoral body had twice extended the deadline.

However, in a joint statement issued yesterday by CivicHive, Enough is Enough Nigeria, Community Life Project (CLP) and Women Advocates and Research Development Centre (WARDC), they insisted that

voters should not be penalised for INEC’s administrative lapses.

The stated: “A large number of eligible voters whose names are in the Voters’ Register turned up at INEC’s offices to collect their PVCs with their registration slips, only to be sent away empty handed by INEC officials on the grounds that their PVCs were

“Not Found” or they were “Omitted”.

“Some of those affected made multiple unsuccessful trips on different dates to INEC’s offices.

INEC assured some of these voters that their cases would be escalated and they would be contacted to pick up their PVCs.”

Sterling Bank Denies Stashing N258m New Naira Notes inVault that its operatives discovered the by the ICPC in a tweet on Tuesday 3, 2023. During the inspection,

KingsleyNwezehinAbuja

Sterling Bank yesterday denied claims made by the Independent Corrupt Practices Commission (ICPC) that it stashed N258 million of the newly redesigned naira notes in its vault at the Central Business District of Abuja.

The ICPC, had said in a statement

sum of N258 million new naira notes stashed in a vault in one of the bank’s branches in Abuja.

However, a statement by the bank’s Chief Operating Officer, Raheem Owodeyi, said the commission’s position on the matter was misleading.

It said the narrative as expressed

was not the accurate representation of events.

It gave details of “a standard regulatory monitoring exercise conducted at the CBD Abuja branch of the bank”.

It said: “A monitoring team visited the regional centre of Sterling in Abuja on February

the monitoring team observed that the bank’s Automated Teller Machines (ATMs) were dispensing all denominations of the newly designed banknotes and also allowed customers to withdraw cash Over-The-Counter (OTC) in accordance with stipulated pronouncements”.

Edo Records Five New Cases of Lassa Fever Fatalities AdibeEmenyonuinBeninCity

Edo State, in the last 24 hours, recorded three new deaths from Lassa fever, raising the total number of fatalities in the state to 23.

The Edo State Commissioner for Health, Prof. Akoria Obehi, who disclosed this to journalists in

Benin City, said the state also recorded five new confirmed cases, raising the number of infections to 160.

She said while the new cases were confirmed in Etsako West, Esan Central and Esan North East, the three new deaths were recorded in Esan North East and Etsako West.

Decrying the rising number

of infections and deaths from the disease, Prof. Akoria urged residents to support the government’s efforts at containing Lassa fever across all Edo communities by complying with preventive protocols against its spread. While reiterating the need for citizens to report early symptoms suspected to be malaria or any other

illnesses that present like malaria, the Commissioner further charged them to reach out to the disease surveillance or notification officers within their local government areas if they have been in contact with someone confirmed to have Lassa fever or suspect any symptoms of Lassa fever or any other priority disease.

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NEWSXTRA

REWARDING PERFORMANCE…

L-R:Partner, PwC Nigeria, Mr. Abimbola Banjo; Group Managing Director, Mojec International Holdings, Ms. Chantelle Abdul; Director, Mojec International Holdings, Mr. Akeem Balogun ,and Managing Director, UPDC FM Ltd, Tokunbo Lawal, at the Leadership Conference and Awards in Abuja.., recently

Immigration Seizes 6,216 Nigeria’s Voters Cards, ID Cards from Foreigners Michael Olugbode inAbuja The Nigeria Immigration Service (NIS) has seized 6,216 voter cards and Nigeria’s national identity cards from foreigners in ongoing clampdown across the country.

This clampdown is one of the

steps employed by the NIS to ensure that foreigners are not allowed to vote in the forthcoming election, even as it revealed that plans are underway to close the borders during the elections and to continue to mop both the voters cards and the national identity

cards from non-Nigerians.

Speaking during a one-day retreat organised for all state comptrollers in preparation for smooth conduct of the general election in Abuja yesterday, the Comptroller General of NIS,

Isah Idris, also disclosed that the arrested foreigners caught with the two important documents reserved for only Nigerian citizens, have been “eased out of the country.”

He explained that the voters and ID cards were intercepted

across 21 states, mostly border states due to the stepping up of surveillance by men and officers of the NIS. The CG, who also used the occasion to brief the media, noted that non-Nigerians are not

permitted to vote hence the agency is taking necessary measures to ensure the apprehension and easing out of the country of the arrested foreigners to prevention them from having anything to do with the nation’s elections.

Court Remands Apprentice Ex-Militant Leaders Petition Buhari, Seeks Ndiomu’s Suspension who Killed Master in Ondo Olusegun Samuel

FidelisDavidinAkure

The Chief Magistrate Court in Akure, the Ondo State capital, yesterday remanded a 20-year-old apprentice, Josiah Godwin, at the Olokuta Correctional Centre for allegedly killing his master, Savior Joseph, and dumping his corpse in a well at Imafon community inAkure South Local GovernmentArea of the state. The police prosecutor, Inspector Folasade Adeyemi, told the court that the suspect was charged on two-count charge of conspiracy and murder.

According to Adeyemi, the offences contravene Sections 269

of the Criminal Code, Cap. 37 Volume 1 Laws of Ondo State Nigeria 2006.

The prosecutor also prayed the court to remand the defendant at the Olokuta Correctional Centre pending the issuance of legal advice from the Director of Public Prosecutions (DPP).

However, counsel to the defendant, Friday Adeoye, did not object to the remand application issued by the prosecutor.

Ruling on the remand application, the Presiding Magistrate, Idowu Mayowa, granted the application and adjourned the case till March 17, 2023, for legal advice.

Buachi Approves N299m for NECO Payment, N15m for UTME Segun Awofadeji inBauchi

Governor Bala Mohammed of Bauchi State has approved the release of about N300 million for the payment of 2023 National Examination Council Fee NECO to all the index students in Public Secondary Schools across the State.

He also approved the payment of UTME Fee of over N15 million to 2,365 candidates who passed Mock examination conducted recently.

The Secretary to the State Government (SSG),Barrister Ibrahim Kashim while addressing journalists in, Bauchi yesterday on

the development explained that the gesture was to support education pursuit of the students to guarantee their future.

Kashim said the government was also able to offset over N800 million backlog of NECO fee under his administration’s Education Development Initiative.

On her part, the State Commissioner of Education, Dr. Jamila Muhammad Dahiru noted that the state government had approved the establishment of Emirate Council Committee on Education in a bid to reduce the rate of out of school children across the state.

Bacardi , HACEY Nigeria Collaborate on Environmental Awareness Ugo Aliogo Bacardi in Nigeria is working together with HACEY to build a programme that will lead to plant more than 300 trees in Lagos and the surrounding areas.

The goal of the new programme is to drive education on the importance of preserving the Earth’s natural assets and build awareness on how Nigerians can play a key role in building a more sustainable lifestyle.

As part of the programme,

primos from Bacardi in Nigeria would spend a full day planting trees to mark the company’s Founder’s Day initiatives and February 4th signifies 161 years since Bacardi was founded, and in 2023, primos in Nigeria are celebrating by giving back to the communities they work within.

The Commercial Director, Bacardi in Nigeria, Sanjib Sarkar, said: “Our goal at Bacardi is to build a bright future and we are on a journey to revolutionise the way we do business.”

Traditional rulers and elders from the Niger Delta have petitioned President Muhammadu Buhari over the alleged rising cases of fraud and diversion of funds under the Presidential Amnesty Programme (PSP) presided over by the Interim Coordinator, Major General Tariye Ndiomu (rtd.).

Among the allegations raised in the petition addressed to President Buhari and the National Security Adviser, Maj. Gen. Babagana Monguno (rtd.) and dated 7th of February 2023, were cases of alleged forgery of the late Professor Charles Dokubo’s signature to back dates of contracts award letters for purported to contractors.

They also accused him of alleged forgery of the former late amnesty boss, Charles Dokubo’s signature to back date contract award letters for payments to some persons within the presidency, including the President’s Nephew Mamman Daura, to fulfil his pledge of N5 billion as returns for his appointment as Amnesty Boss.”

The traditional rulers including ex-militants, youths and women under the aegis of the Coalition of Ex-Militant Leaders, and led by former General Boma Inewariku, Gabriel Atumani Victor and James Ebiaredei Collins, claimed that there was the need for the suspension of Ndiomu (rtd) to allow for proper investigations into the alleged forgery.

UTME: JAMB Cancels Registrations of 817 Candidates, Orders New Registration KuniTyessi in Abuja

The Joint Admissions and Matriculation Board (JAMB) yesterday said it has cancelled the registrations of 817 candidates in the 2023 Unified Tertiary Matriculation Examination (UTME).

The Registrar of JAMB, Professor Is-haq Oloyede, who

made this known after separate meetings with stakeholders, said the registrations were invalidated over identified infractions bordering on the use of strange biometric fingerprints in the registration process.

While saying that some registration officers in the affected 178 Computer Based Test (CBT) centres added one

of their fingerprints to complete the registration process for the candidates, Oloyede, however, said the 817 students would be given another opportunity to re-register for the examination with the centres bearing the cost.

He said: “For the students who allowed other people to add their fingers to their registration procedure, we found out that some

of them were only naive because you will hear them saying my finger was hot, and the man added his own. And you allowed him to add his own finger?

“Some of them did it deliberately for impersonation but we can’t identify those who are genuine from those who are not.

We will cancel all the registrations and ask them to re-register.

2023: Ohanaeze Endorses Obi, Says LP Candidate Best Choice for Nigeria Gideon ArinzeinEnugu Ahead of the February 25 presidential election, the apex Igbo socio-cultural organisation, Ohanaeze Ndigbo, has endorsed the presidential candidate of the Labour Party (LP), Peter Obi. Ohanaeze also insisted that going by the political culture of sharing, zoning and rotation of power which has been in existence in Nigeria,

it is the turn of the Southeast to produce a president for Nigeria in 2023.

In a statement issued by its spokesperson, Chiedozie Ogbonnia, yesterday, Ohanaeze said the choice of Obi by the Middle Belt led by Dr. Bitrus Porgu; the South-south and PANDEF led by Chief E. K Clark, and the Afenifere led by Chief Ayo Adebanjo, shows that Obi is the change agent that Nigeria needs.

“Obi is a man who with a mere force of morals, uprightness, persuasions, robust intellect and goodwill capable of transforming the political narratives of the most populous, rich but one of the most backward African countries,” Ohanaeze said.

The group noted that Obi’s track records in the period he served as governor in Anambra State between 2017 and 2014 show

that he is a purveyor of superior morals with fortitude equal to the martyrs of old.

Ohanaeze, however, pointed out that it would be needless for selfdestruction such as the sit-at-home syndrome, and destruction of public utilities in the name of agitations against perceived marginalisation to continue in the Southeast and work against Obi ahead of the general elections.

Niger Gov Directs Clamp Down on Thugs in Minna and Environs Laleye Dipo inMinna Niger State Governor, Alhaji Abubakar Sani Bello has directed the police and other security agencies in the state to immediately clamp down on thugs and other criminals that have been disturbing the peace of Minna and its environs in recent times.

The governor gave the directive in a statement made available to journalists last Tuesday evening in which he said the miscreant should be dealt with decisively.

In the statement signed by the state Commissioner for Internal Security and Humanitarian Affairs, Mr. Emmanuel Umar, the governor said the activities of the thugs have

become a threat to the lives and property of innocent people in the state capital.

The statement read in part: “Following the reoccurring incessant attacks by hoodlums with dangerous weapons, Governor Bello has authorised the police and other security agencies that anyone found with a dangerous weapon

in a public place destroying public property and attacking the police or any law-abiding citizen be met with equal force.

“He has further directed the police and other security agencies to protect themselves against any form of violence from these criminals, who have been constituting nuisance in the metropolis.”

Mbah Pledges to Collaborate with UK, Ireland, G20 Group in Service Delivery

GideonArinzeinEnugu

The governorship candidate of the Peoples Democratic Party (PDP) in Enugu State, Peter Mbah, has pledged that his administration will collaborate with members of the G20+ group to deliver quality service in the areas of health, youth

empowerment and Information and Communication Technology, (ICT) if elected in March.

Mbah gave the pledge yesterday when members of the group which is made up of professionals from Enugu who are based in the United Kingdom and Ireland, including its PRO, Chidere Attama, and Patron

of the G20+, Chris Ozongwu, paid him a courtesy visit.

The visit came days after the group donated a total of 340 doses of HPV vaccines for cervical cancer treatment to the Enugu State University Teaching Hospital, (Parklane) in collaboration with the Enugu State Primary

Healthcare Development Agency (ENSPHCDA) during this year’s World Cancer Day with the theme: ‘Close Care Gap’.

In his address, Mbah said Enugu State under his leadership would experience unprecedented growth driven by disruptive innovation, technology and revolutionary ideas.

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

0811 181 3083 SMS ONLY

Napoli President, Laurentiis, Declares Osimhen Not for Sale

Femi Solaja with agency report

Manchester United’s dream of signing Nigeria and Napoli striker, Victor Osimhen, may have to wait a little longer as the Serie A club’s President, Aurelio de Laurentiis, has insisted that the hitman is not for

sale for now.

The runaway Serie A leaders have been speculated to want to cash in on the current form of the Nigerian striker to do business with Old Trafford’s chiefs with transfer fee put in the region of £100million.

Despite Manchester United’s

plans for a massive clear out to accommodate the hefty fee expected to be paid on the former Lille of France forward, de Laurentiis insisted Osimhen is not available for transfer.

Osimhen has played a massive role in Napoli's bid to secure a first

league title since 1990, with Luciano Spalletti's side currently 13 points clear of second-placed Inter Milan.

The Nigerian forward leads the Serie A goalscoring charts having scored 16 goals in 17 appearances in the league this season.

De Laurentiis told German

newspaper Bild that he does not intend to sell the Napoli talisman.

“I can tell you that Osimhen is not for sale,” De Laurentiis announced.

“Our players are in demand, but I don't have to sell anyone.

“We don't have any debts.”

Osimhen joined Napoli from Lille in 2020 for £62.4m and has scored 45 goals in 83 matches.

His contract expires in 2025 and talks over a new deal are thought to not have taken place yet.

United are keen to sign a superstar striker in the summer, having had to rely on an injury-prone Anthony Martial and January y loanee Wout Weghorst to lead the attack.

Todd Boehly's high-spending Chelsea are also expected to enter the race for Osimhen's signature in the summer.

The Blues have been forced to use Kai Havertz as a false number nine despite splashing £323m in January.

Ligue 1 giants Paris Saint-Germain are also thought to be interested.

Napoli winger Khvicha Kvaratskhelia, who has formed a potent partnership with Osimhen, has also attracted suitors for his displays in Serie A and the Champions League.

Reigning Premier League champions p Manchester City y are believed to be monitoring the Georgian Georrgian star.

LeBron James Breaks NBA All-time Scoring Record LeBron r James has become the NBA's all-time leading scorer, passing Kareem Abdul-Jabbar's long-standing record.

Los Angeles Lakers star James hit 38 points in a 133-130 defeat by the Oklahoma City Thunder to surpass Abdul-Jabbar's mark of 38,387, set in 1989.

Abdul-Jabbar initially broke the scoring record in April 1984, eight months before James was born.

"To be able to be in the presence of a legend and great as Kareem, it means so much to me," said James.

LeBron James...becomes all-time highest scorer in the NBA after erasing Kareem Abdul Jabber’s record yesterday

Twists in Atsu’s Whereabouts: Hatayspor Claim His Location Unknown Former Chelsea and Newcastle player Christian Atsu's Turkish club have said that they cannot find him at the hospital he's reportedly been taken to.

Atsu, who plays for Hatayspor, was understood to have been rescued from a destroyed building on Monday following a 7.8-magnitude earthquake in Turkey and Syria.

The club's Vice president Mustafa Ozat had confirmed that Atsu was taken out of the rubble with injuries.

Hatayspor's club doctor Gurbey Kahveci said: “When we heard the news that "he was taken to Dortyol Hospital", we especially went and looked, but he was not there.

“At the moment we accept that Savut Taner (Sporting Director) and Christian Atsu were not found, unfortunately.”

The devastating event has seen the death toll hit 11,000, making it the deadliest earthquake for a decade.

Atsu's agent Nana Sechere also revealed that the player's location is unknown, tweeting on Wednesday morning: “Following yesterday's update from the club that, Christian had been pulled out alive, we are yet to confirm Christian's whereabouts.

“As you can imagine, this continues to be a devastating time for his family and we are doing everything we can to locate Christian.”

It comes after Atsu's team-mate Kerim Alici, a close friend, had confirmed on Turkish TV that the player had been rescued alive, which has prompted further confusion over whether the player has been found or not.

Atsu's agent Sechere, who is in London and not in Turkey with the player, has also revealed that the 31-year-old had plunged from the ninth floor of his apartment

T U R K E Y E A RT H Q UA K E

Christian Atsu...his club in Turkey claim yesterday he’s still missing after the earthquake building when the devastating earthquake hit.

He explained that 20 minutes after returning home from a poker night with team-mates, Atsu was sent plunging to the ground.

“The last I heard from him was at midnight on Sunday. Christian and his team-mates were playing poker until 3:30am at a friend's apartment,” Sechere told UK’s The Mirror.

“The journey back to his apartment was around half an hour. He returned at 4am and the earthquake started around 20 minutes later. I didn't know anything until I received a call from a club official at 5am asking if I'd heard from Christian.

“He told me Christian's building had been completely destroyed and that they couldn't get hold of him.”

Footage shared on social media by Ajansspor showed a team attempting to rescue Atsu in the village of Ekinci in the Adıyaman District.

It is claimed in the video that voices of Atsu and Sporting Director Taner Savut can be heard. Hurriyet detailed on Tuesday that there is an anxious wait to find Savut with rescue teams navigating the rubble.

Atsu was in action on Sunday for Hatayspor, scoring a goal in the seventh minute of stoppage time in a 1-0 victory over Kasimpasa.

In a message after the game, he wrote: “Important win for the team.

Happy to be on the scoresheet.”

The earthquake hit hard in Kahramanmaras, where Hatayspor are based.

Hatayspor players Burak Oksuz, Kerem Alici and Onur Ergun, as well as team officials Ekrem Eksioglu and Osman Ates, were rescued from the rubble on the first day, it was reported.

Atsu was part of the Newcastle team which won promotion back to the Premier League in 2017 after joining on loan for the season from Chelsea, and later completed a permanent move. He has also won 65 caps for Ghana.

The 38-year-old, y who needed 36 points to break the record, did so with a fadeaway jumper at the end of the third quarter and he finished the match with a career total of 38,390.

An emotional James rose both arms in celebration while 75-yearold Abdul-Jabbar, who was at the match at the Lakers home court, stood and applauded.

There was a brief break in play for a ceremony to mark the achievement, with James taking a microphone to make a speech on court.

Lagos Inaugurates Athletics Club Series Committee Members Udo-Ubong: “Competition will change face of athletics in Nigeria” Kunle Adewale In its effort at encouraging athletes from the state, Lagos State Athletics Association, (LASAA), yesterday hosted the athletes and coaches to the recently concluded National Sports Festival (NSF), to thank them for a job well done and launch of the Lagos Club Athletics Series.

Speaking at the press conference to herald the Athletics Club Series, the Chairman of LASAA, Solomon Ajao, thanked the athletes and coaches for making the state proud at the last NSF. "We will continue to provide an enable environment for the athletes to thrive. We are not perturbed by the cancellation of a number of athletic meets. We will ensure we keep working hard to put the athletes in good shape because the life span of an athlete is very short," Ajao noted.

The Lagos athletics boss noted that the association may not be very financially buoyant, but it will keep pushing at ensuring that athletes from the aquatic state not only win medals but fulfill their life dreams.

Ajao however charges the athletes to shun performance enhancing drugs as it would only bring them shame.

On his part, Nigeria’s Olympics gold medallist, Enefiok Udo-Obong, said one of the reasons for the Club Athletics Series is for clubs and coaches to be given the deserved recognition.

"We want clubs and coaches to be well recognised as against the athletes alone," Udo-Obong reasoned.

He said the Club Athletics Series is a national competition open to all cubs in Nigeria, with over N10 million in cash prizes at the end of the series.

The competition is an avenue for athletes to have their rankings improved and it is set to change the face of athletics in Nigeria, " an optimistic Udo-Ubong said.

Several athletics clubs in the country and the Republic of Benin have expressed their desire to participate in the competition.

The first leg of the four series is scheduled to kick off on February 19, at the Yaba College of Technology sports centre.

Olise, Saka in Battle for 2023 London Young Player Award Two players with Nigerian ancestry in the English Premier League, Michael Olise and Bukayo Saka, are in the battle for Men’s Young Player of the Year at the 2023 London Football Awards.

The nominees were unveiled yesterday on London Football Awards Twitter handle on social media.

Aside Olise and Saka, other

nominees for the Men’s Young Player of the Year award include; Arsenal players Gabriel Martinelli and William Saliba and Millwall’s Billy Mitchell.

Olise was also nominated for Goal of the Season category at the awards after netting a brilliant injury-time free-kick against Manchester United.

His effort against United was

recently named Premier League Goal of the Month for January.

Olise won Palace’s Player of the Month awards for November and December; picking up four assists.

He is up against Tottenham’s Son Heung-Min, Watford’s Ismaïla Sarr, Leyton Orient’s Paul Smyth and Arsenal Women’s Laura Wienroither for the London Football Awards Goal of the Season.

Other categories are Premier League Player of the Year; Manager of the Year and Community Project of the Year.

According to the organisers of the award, voting is open to the public until 1 pm on Friday February 10.

Winners will be revealed on Monday, March 13 at the Roundhouse in Camden.

Thursday, February 9, 2023

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MISSILE

Lai Mohammed to 13 Parties “These curious actions by the parties concerned is clear evidence that the opposition has turned this whole issue into a political game, preferring to make Nigerians suffer more on the altar of unconscionable political gamesmanship. Or how else can one explain the fact that these unscrupulous opposition parties do not want any action that could reduce the pains being experienced by Nigerians?”—Information and Culture Minister on the restraining order secured by 13 fringe political parties on the CBN Naira swap policy

OLUSEGUNADENIYI THE VERDICT

olusegun.adeniyi@thisdaylive.com

Òrìsà Bí o Le Gbè Mí…

L

et me begin with an apology to my non-Yoruba readers. The adage that forms the kernel of my intervention today is “Òrìsà bí o le gbè mí, se mí bi o se ba mí.” It is often used in the land of my father—to borrow a famous phrase from THISDAY editor, Shaka Momodu—especially in moments of desperation that we currently face in Nigeria.

A Yoruba adage is always difficult to translate into English without losing the embedded lessons, but this one is a supplication to the gods who promised so much yet, at the end, delivered little or nothing. And here goes my crude interpretation: ‘Deity, if you cannot improve my material condition, please do not worsen my plight’ or more appropriately, ‘please, leave me as you met me’.

I see no better expression to describe how many Nigerians feel today about President Muhammadu Buhari. After eight years in office, his promise of ‘Change’ now sounds so hollow that nobody in the administration is bold enough to use that phrase again. But the immediate challenge is the most troubling. While Nigerians have for decades been conditioned to buying fuel in the black market due to the way we mismanage our affairs, things are currently so bad that we are using money to buy money (Naira notes) to enable us to queue for fuel and pay for other services.

Meanwhile, online payments are not working effectively at a time the system is supposed to have gone cashless!

Gradually, the economy is being crippled, the livelihoods of people are being systematically destroyed and we are sleepwalking to anarchy.

In rural communities across the country, most of the stories one hears are heartbreaking.

Even the International Monetary Fund (IMF) has had to admonish the Central Bank of Nigeria (CBN) on “the hardships caused by disruptions to trade and payments due to the shortage of new bank notes available to the public.”

From markets to eateries in urban centres, transacting any business requires first buying Naira notes at scandalous rates. And you must pay before service. On Sunday, respected lawyer and security consultant, Dr Charles Omole shared an experience on Twitter that is representative of what most people are going through. “I went out with friends last night. I tried three different (bank) cards, and all failed.

I tried to transfer twice from two different banks, both failed,” Omole wrote. “In the end, I gave the manager my card and we agreed to speak tomorrow to sort out payment. Five electronic payments in one night.”

With the epileptic services on virtual payment systems, ‘Book me down’ is now a common phenomenon at Abuja eateries for people with name recognition. The not-so-known are going ‘pantless’ and ‘braless’ in banking halls to demonstrate the level to which they have been dehumanized simply to access their own money. Desperation is also pushing many into violence in theatres across the country. And with opportunistic criminals taking advantage of the situation to loot and maim, many bank branches are shutting down.

At the rate Nigeria is going, we may soon have to resort to trade-by-barter as a means of exchange, although some border communities in the North have adopted CFA francs that is, under normal circumstances, not a legal lender in Nigeria. And for those who cannot see

President Muhammadu Buhari beyond their obsession with the 2023 general election that may change nothing (we have had many elections in the past), we must let them know that this is beyond petty politics.

Nigerians are finding life rather difficult today because of the scarcity of Naira notes. Even if we concede the fantasy that this whole thing was orchestrated to checkmate vote buying, punishing ordinary people for the sins of politicians is multiple jeopardy.

President Muhammadu Buhari came to office in 2015 with a pledge to fight corruption. It required no rocket science to know where to confront the demons: putting an end to the multibillion-dollar subsidy racket in the downstream sector of the petroleum industry and tackling illicit cash transactions. Regarding the first, Buhari was vehement during his campaign that subsidy was a fraud, asking most memorably, ‘Who is subsiding who?’

The moment he got to power, not only did he

sustain the scheme, but the subsidy budgets continued skyrocketing such that today, we are borrowing trillions of Naira annually to pay for a commodity that is only available on the street at scandalous prices to motorists.

In abdicating responsibility on the issue, the president has pushed removal of subsidy till after his tenure in which case his successor would have to carry the can.

When in January 2012, the then CBN Governor, Sanusi Lamido Sanusi, launched the cashless policy in Lagos as a pilot scheme, the pledge was that it would go nationwide by 2013. While that deadline did not materialize, nobody can discount the fact that online payment has deepened in the country in the past decade. So, we can see that his successor, Godwin Emefiele was not re-inventing the wheel with his Naira redesign policy. The problem was timing: On the eve of a major election without adequate guarantee for the availability of the new Naira notes to be swapped for old ones. The window given for the implementation is also ridiculous. Most Nigerians saw these new Naira notes for the first time only mid-January. Yet, these scarce new notes were expected to have replaced all the old notes by month end!

I will not blame Emefiele. Although the CBN Act 2007 gives enormous powers to the apex bank Governor, it also recognizes that certain decisions would have political repercussions. That explains why Section 19 of the Act empowers the apex bank to issue the national currencies in “such forms and designs and bear such devices as shall be approved by the President on the recommendation of the Board.” So, the man who bears ultimate responsibility for the crisis at hand is the president. Without his approval the CBN would not have acted on the issue. He is also the one to whom Nigerians look to fix the problem. Having created incentives for bad behaviour with the scarcity of Naira notes (by accident or design), scapegoating the banks offers no solution. In any case, how many bank managers would the security people arrest?

The main concern now is that the social disruptions created from the non-availability of Naira notes and the current fuel scarcity may have also emboldened anti-democratic forces to plot all kinds of extraconstitutional power schemes that can only lead our country down

the path of chaos. At his campaign rally last week in Ekiti State, the ruling All Progressives Congress (APC) presidential candidate, Asiwaju Bola Ahmed Tinubu confirmed that there are indeed sinister plots to scuttle the election in a bid to foist on the country an interim government. “They want to provoke you to violence, so that election will be disrupted and postponed, and they can cunningly introduce an interim government, that’s their plot,” Tinubu alleged without elaboration.

For the generation too young to understand what the idea of ‘interim government’ is all about, Reuben Abati’s column on Tuesday explained how, in the early nineties, General Ibrahim Babangida imposed on Nigerians a conclave of politicians headed by a hand-picked leader, the late Ernest Shonekan. While that political fortress built on quicksand collapsed within a matter of weeks, the conditions for the crisis that followed had been firmly laid by annuling the presidential election and dragging the judiciary into partisan politics.

In Abuja today, many can draw a parallel with the past, given the questionable rulings now emanating from our courts. There are notorious Judges from whom you can seek a perpetual injunction that a pregnant woman should not be allowed to deliver her baby and it would be granted by their court!

So, how is President Buhari completely missing from this discussion? Quite simply because he has chosen to be. His statement following a meeting with the APC Governors last week said nothing. It is typical. In January 2018, I wrote that the president has most often looked aloof and distant when the occasion demanded his intervention. “Yet, what Buhari and his handlers fail to appreciate is that whenever human emotions are exhibited in a leader, people take hope. A tear for the distressed, a sigh of contrition in moments of mistakes, one heartfelt utterance of genuine grief when people are hurting are some of the attributes of a genuine leader—it is not about taking all tidings with equal indifference, as Buhari does most times” I wrote.

I have taken time to study this president since 2015. Nothing illustrates his disposition to power and the office he holds better than the legendary photo of him picking his tooth.

Continued on page 33

Amity in Simon Okeke’s Amichi

W

hen he turned 70 in January 2006, Chief Simeon Okeke hosted prominent Nigerians to a big reception in his community of Amichi, Nnewi South Local Government of Anambra State. But the ceremony also carried some historical symbolism.

The chairman of the occasion was then President Olusegun Obasanjo. As a Colonel in the Nigerian army in January 1970, Obasanjo received the instrument of Biafra’s surrender from the late Colonel Philip Effiong, in the same town of Amichi and same family compound. And because of that, prior to Obasanjo’s return journey to Amichi 36 years later as a civilian president, the late Chief Ojo Maduekwe had volunteered to draft his (Obasanjo’s) speech “and the title of that speech will be ‘New Amity in Amichi’,” according to Okeke’s recollection.

Given the activities of ‘Unknown gunmen’ in most parts of the Southeast today and the deepseated angst over Biafra, I don’t know how much ‘amity’ is still left in Amichi and it is just as well that Okeke’s book being publicly presented today in Abuja is about ‘Policing the Nigerian Police’ and not on that hot potato issue. The 87-year-old estate surveyor and respected statesman was the chairman of the Police Service Commission (PSC) between 2001 and 2006 and the book documents his experience. It is a rich collection that adds to the literature on national security in our country.

Born on 7th January 1936, Okeke had in 1961 secured a federal government scholarship to study at the College of Estate Management, University of London. Today, he is a foundation member and Fellow of the Nigeria Institution of Estate Surveyors & Valuers (FNIESV), Fellow of the Royal

Institutions of Chartered Surveyors of Great Britain (FRICS) and Member of the International Real Estate Federation (FIABCI) and Commonwealth Association of Surveying and Land Economy (CASLE).

In Okeke’s book, one can see the genesis of the seemingly intractable war of attrition between PSC and the office of the Inspector General of Police (IGP) that is being fought both in the media and the court. The book also documents the issue of poor remuneration and other challenges facing the rank and file in the police while highlighting possible solutions. With the foreword written by veteran journalist, Ray Ekpu who served in Okeke’s PSC along with others, it is a book that I recommend for those who seek a deeper understanding of the challenge of policing and how to tackle insecurity in Nigeria.

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