TUESDAY 15TH FEBRUARY 2022 by THISDAY Newspapers Ltd

Emefiele: It is Buhari’s Prerogative to Plan His Succession Says he’s focused on supporting FG’s economic recovery drive Insists it is only God that anoints leaders Obinna Chima In reaction to speculations around his purported interest in the 2023 presidential race which has seen stampede by vested parties and interest, Central Bank of Nigeria

(CBN) Governor, Mr. Godwin Emefiele yesterday said it was the prerogative of President Muhammadu Buhari to plan his succession plan in line with global best practice, for good governance and continuing peace and progress

of the country. Emefiele also stressed that he remained focused on his job, even as he has pledged to continue supporting the Buhari-led federal government’s economic recovery drive.

These formed part of a statement titled; Who is Afraid of Emefiele? from the group known as ‘FRIENDS OF GODWIN EMEFIELE,’ who disclosed that they met with the CBN governor to clarify his position on the 2023 presidential race.

Emefiele, according to the group, also warned those that had resorted to all sorts of blackmail, sponsored articles and choreographed comments on social media targeted at tainting his image, impugning his character and legacy to desist

from such act, stressing that it’s God that anoints leaders and that he would leave his faith firmly in the hands of God. The statement noted that in the Continued on page 35

Amaechi Drops Unremitted N165bn Allegation against Bala-Usman, Bases Query on Waivers to Dangote, Others… Page 10 Tuesday 15 February, 2022 Vol 27. No 9807. Price: N250

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NNPC Completes Withdrawal of Methanol-blended Petrol from Circulation... Page 8

Aregbesola Tears Into Tinubu, Accuses Him of Playing God Says Ambode’s treatment’ll be meted out to Oyetola in Osun Yinka Kolawole in Osogbo It appears the gloves are now off

for a bare knuckle fist between the Minister of Interior, Rauf Aregbesola and his estranged

godfather, Bola Tinubu, the former Osun State governor, yesterday, tore violently into Tinubu and

told him that the same treatment meted out to a former Lagos State governor, Akinwunmi Ambode,

which foreclosed his re-election bid in 2019, would be administered on his brother and Governor of Osun

State, Gboyega Oyetola. Continued on page 35

Wanted 'Super Cop,' Abba Kyari, Four Others in NDLEA Custody over Drug Dealing Police say interim investigation established strong ties between drug couriers, NDLEA officers Want drug law agency officers to investigate indicted officers

Michael Olugbode in Maiduguri and Kingsley Nwezeh in Abuja Few hours after he was declared wanted by the National Drug Law Enforcement Agency (NDLEA) over involvement in a cocaine deal, suspended Deputy Commissioner of Police (DCP) Abba Kyari was yesterday handed over by the police to the anti-narcotics agency. Kyari had solved many criminal cases and was until recently among the most celebrated police officers in the country. But he found himself in troubled waters when he was associated with Hushpuppi’s cybercrime case. An American court ordered his deportation to the United States

to be prosecuted along with Abbas Ramon, alias Hushpuppi, a request the Nigerian government was yet to respond to. A statement by the spokesman of NDLEA, Mr. Femi Babafemi, disclosed that the police handed over the erstwhile Commander of Intelligence Response Team (IRT) at the Force Intelligence Bureau of the Nigeria Police to the drug law enforcement agency. Babafemi also disclosed that alongside Kyari, four other suspects in the matter, namely, Assistant Commissioner of Police (ACP) Sunday Ubua; Assistant Superintendent of Police (ASP) Continued on page 35

DEEPENING RELATIONSHIP BETWEEN TEF AND EU... Group Chairman, United Bank for Africa (UBA) and Founder, Tony Elumelu Foundation (TEF), Mr. Tony Elumelu (left) and Executive Vice-President, European Union (EU) Margrethe Vestager, at a bilateral discussion between TEF and EU towards deepening existing relationships held in Abuja... yesterday

ASUU Adamant, Declares One-month Warning Strike, FG Says Action Illegal... Page 8

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

NEWS

DIPLOMATIC VISIT TO LAGOS HOUSE... L-R: United States Consul General Lagos, Claire Pierangelo; Deputy Assistant Secretary of State for African Aﬀairs, Ms. Akunna Cook; Lagos State Governor, Mr. Babajide Sanwo-Olu, and his Deputy, Dr. Obafemi Hamzat, during a courtesy visit to the Governor, at Lagos House, Marina... yesterday

EU Okays €820m Digital Economy Package for Nigeria Deji Elumoye in Abuja The Executive Vice President of European Union (EU) Commission, Margrethe Vestager, has disclosed that the EU has approved a threeyear digital economy package worth €820 million for Nigeria. This, she said, was part of a Global Gateway Africa-Europe Investment Package worth €150 billion announced recently by President of the EU Commission, Ursula von der Leyen. Vestager, who spoke while leading a delegation of the EU Commission on a visit to the Vice President, Prof. Yemi Osinbajo, at the State House, announced an EU-Nigeria digital economy package of at least €820 million until 2024. According to her, the package would help enhance connectivity, digitalise public services, support

entrepreneurship and build digital skills, while developing a humancentric, democratic governance framework for technology. Responding, Osinbajo welcomed the EU digital economy support, which he described as impressive noting that the use of digital technology was crucial in Nigeria's recently released National Development Plan. The vice president added that it was a relief that the EU supported the view canvassed by Nigeria that gas be considered a transition fuel as the global community moves towards net-zero emissions targets. He said: "We are relieved to hear of the EU's support on gas as a transition fuel. It's some bit of relief. Nigeria has been in the forefront of the international advocacy on the issue." Issues discussed at the meeting included the use of digital technol-

ogy, trade and investment, the importance of the energy relationship between Nigeria and the EU also featured, while a consideration of

all options for increased supply of Liquified Natural Gas (LNG) from Nigeria to the EU was agreed to, following a request from the EU.

The Senate Committee on Power yesterday dismissed a petition against Dr. Yusuf Ali, who was nominated by President Muhammadu Buhari, to represent the North-central geopolitical zone on the board of the Nigerian Electricity Regulatory Commission (NERC). The panel noted that the petition against the first class, 30 year-old PhD graduate of electrical-electronic engineering who studied at both the Cambridge and Manchester universities, lacked merit. Chairman of the Senate Committee, Senator Gabriel Suswam said during the screening of four nominees as commissioners for NERC, yesterday in Abuja, that Ali had successfully defended himself. The Senate President had on February 9, this year, forwarded President Muhammadu Buhari’s request for the confirmation of the four nominees as commissioners for the commission to the Committee on Power. While screening the 30-year old Kwara nominee Suswam said there was a petition against him.

The Senator said, "The petition says you are not from Kwara. And so as a senator from North Central, I am very worried that you are nominated to represent North Central, the people that know said you are not from north central. "You seem to be highly educated as a young man. You have a PhD under 30 years from Cambridge University, one of the best universities. "You have a distinction in nuclear energy from the same university; you also have a first class in electrical-electronic engineering first class in Manchester University. "Qualification wise we should have just asked you to take a bow and go. But we are here beyond qualification. The constitution says regarding conduct, so we now question you a little bit based on qualification." Responding, Ali said he was an indigene of the state. He said, "Indeed my father is from Osun, Ife South Local Government Area. My family immigrated to Kwara in 1983. I and my siblings we were all born in Kwara. We have lived there all

(European Union - African Union) Summit in Brussels later this week, specifically from the 17th-18th of February.

EU Announces N21bn Fund for Graduate Employment Scheme in Nigeria Eromosele Abiodun The European Union (EU) yesterday announced funding of €44 million (N21billion) for the Nigeria Jubilee Fellows Programme (NJFP) aimed at employing graduates who recently concluded the mandatory one-year National Youth Service Corps (NYSC). Executive Vice-President of the EU, Margrethe Vestager, who is currently on a working visit to Nigeria, made the announcement

during an Investment Round Table on NJFP, in Abuja. Speaking at the event, Vestager said the EU’s intervention in the scheme, which would be contracted to the United Nations Development Project (UNDP), “is the first concrete commitment that EU is making in support of youth as part of our new multiannual programme with Nigeria.” She said the programme would provide an opportunity for mentors who were already engaged in

Senate Dismisses Petition against Buhari's Nominee for NERC Job Sunday Aborisade in Abuja

The importance of a renewed Nigeria-EU partnership was noted during the meeting, including expectations for a successful EU-AU

through our lives. "In 1999, the process to make us indigenes of Kwara commenced and we have the documentation in the file attached. That was granted in 2002. All my public records in terms of the 2006 Census, my driver licence, my NIN, my PVC all have me been from Kwara," he noted. Contributing, Vice Chairman of the Committee Senator Eyinnaya Abaribe said, "we are seeing here a document from Ilorin West Local Government, confirmation of Kwara indigene." He said, "It was dated September 2002. In order words, you didn't envisage that you were going to face the Senate when this was done. "I don't think we should waste time over where he comes from, he is from Ilorin West," Abaribe said. In his ruling, Suswam said, "we want Nigerians to know that the constitution gives Nigerians the latitude." He said, "As a Senate that represents the people, I don't think we will support such a petition because the young man who is 30 who does not know any other place other than where he was

born, is from that place. "I don't know why we have become so conscientised about where someone comes from. What matters is the content you have and how well you can represent this country. "As far as we are concerned, that is a very frivolous petition and we hereby dismiss the petition on ground of lack of merit." Other nominees who were also cleared were, Mr. Chidi Ike (South East), Mr Nathan Shatti (North East) and Mr. Dafe Akpeneye (South South).

various industries, gained relevant experience and built capacity over the years to provide mentorship and support for young Nigerians. According to the vice president: “Our objective in this programme is to support the creation of new green and smart jobs, such as tech and innovation, research and development, social, telecom, agriculture and green economy, for young graduates, including women and groups living in vulnerable situations. These are exactly the types of jobs we wish to promote under the Global Gateway Initiative.” Speaking further, Vestager explained that the jubilee programme would provide a pathway for young Nigerians to gain work experience in top tier organisations, gaining relevant skills and building the right networks for the future in various sectors including information and communications technology, financial services, trade, manufacturing, agriculture and agro-processing. “Other sectors include mining, telecommunications, creative industries and technology, education, health, research and development,

and public sector institutions. “We believe that building the right skills and experiences across these sectors are important to sustain the economic growth we are experiencing.’’ Vestager expressed satisfaction that EU companies in Nigeria were already participating in the programme, even as she called on fellow development partners and the private sector to make the programme a success. “The participation of EU companies shows the mutual benefits that the collaboration between the EU and EU companies can bring to economic development of Nigeria,” she said. The EU vice president said the NJFP would build on other efforts of the EU to support young Nigerians such as its flagship programme, Erasmus which enables exchanges of students from Nigeria to EU countries, noting that between 2019 and 2021, 270 students from Nigeria have received scholarships to study in Europe. Fellows registered under the programme would receive a monthly stipend of N100,000.00 paid fully by the NJFP.

Tanko Makes U-turn, Denies Kidnapping, Killing Hanifa Ibrahim Shuaibu in Kano Abdulmalik Tanko, the school teacher, who confessed to abducting and killing his 5-year-old pupil, Hanifa Abubakar, has denied the murder charges leveled against him. When the charges were read to him and his accomplices, Tanko and 2nd accused person, Hashimu Isyaku, pleaded not guilty to the charges, except the first charge of Criminal Conspiracy.

On her part, the 3rd accused person, Fatima Jibrin, also pleaded not guilty to all the charges. Relying on Section 36 (6b) of the 1999 Constitution, the lawyer of the accused persons, Mr ML Usman, requested the prosecution to serve him with all facilities in the case within one week to prepare for accelerated hearing. The judge, therefore, granted the application and adjourned to March 2 and 3 for hearing. He, however, ordered that they

be remanded in prison custody. THISDAY gathered that the state government had filed a five-count charge against Tanko, alongside his two accomplices, Hashimu Isyaku and Fatima Jibrin, before a High Court 5 in the state. The three suspects were charged with criminal conspiracy, kidnapping, concealing/keeping in confinement a kidnapped person and culpable homicide, contrary to Sections 97, 274, 277 and 221 of the Penal Code.

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NEWS

GRIEVING WITH THE SULTANATE... L-R: Sultan of Sokoto, Alhaji Sa’ad Abubakar III; Senate President, Dr. Ahmad Lawan; Governor of Yobe State, Mai Mala Buni and Sarkin Sudan Awwal Lawal, during a condolence visit by the Senate President to the Sultan over the recent demise of the head of Sokoto Caliphate Kingmakers, Alhaji Hassan Danbaba, in Sokoto.... yesterday

House Urges Nigeria Customs to Meet N3trn Revenue Target Udora Orizu in Abuja Members of the House of Representatives Committee on Customs and Excise has mandated the Nigeria Customs Service (NCS) to ensure the agency meets its revenue target of N3.019 for the 2022 fiscal year. The Committee chaired by Hon. Leke Abejide, made this known when the Comptroller General of Customs, Maj-Gen Hameed Ali, appeared before the lawmakers to defend the agency's 2022 budget. Abejide in his remarks, said

recent circular from the Office of the Secretary to the Government of the Federation which raised the threshold service-wide for Ministries, Department and Agencies (MDAs) on contract awards, it would be unforgivable for any agency not to perform better by the end of this year. He, however, commended the NCS for exceeding the N1.678 trillion raised by the lawmakers as the 2021 revenue target for the agency, as against the sum of N1.465 trillion, the Customs

presented during the 2021 budget defence. He said though the figure was contested by the CGC and his team, saying it may be impossible, but at the end of 2021, the NCS collected the sum of N2.241 trillion. He also said members of the Committee in the Senate and House of Representatives have concluded that reasonable amount to put back into use the 13 scanners be appropriated out of the N27 billion surplus from the 2021 collections. The lawmaker tasked the

agency to improve its corporate responsibility, adding that the information they needed and assistance to tackle smugglers would be provided by the people easily when they do so. "Another area we want your budget to capture is the corporate responsibility so that communities where Nigeria Customs and even people that work with Customs can have a belonging or take ownership of the agency. “The Nigeria Army does much more of corporate social responsibil-

ity for the general public and their hosts, and other revenue generating agencies as well, and that is the reason for less reported acrimony and attacks against them. “We want to change the budget cycle of the NCS to fall in line with national budget. On this note the NCS budget should be ready from mid- November, so that we shall work it and pass every December or before embarking on Christmas and New year break." In his presentation, Ali explained that the revenue target for NCS

NNPC Completes Withdrawal of Methanol-blended Petrol from Circulation Peter Uzoho The Nigerian National Petroleum Company Ltd (NNPC) has withdrawn all the methanol blended petrol which was imported into the country about three weeks ago. The NNPC also stated that cargoes of clean petrol are arriving daily into the country to bridge the gap created by the withdrawal of the methanol blended petrol. The off-spec petrol, according to the NNPC, was imported into the country by four oil marketers through four cargoes under the company’s Direct Sales Direct Purchase (DSDP) arrangement. The four companies that were alleged to have supplied the methanol-blended petrol were: MRS which made the importation through a vessel named MT Bow Pioneer, Emadeb/Hyde/AY Maikifi/Brittania-U Consortium through vessel identified as MT Tom Hilde, Oando through a vessel named MT Elka Apollon, and Duke Oil through MT Nord Gainer vessel. Emadeb/Hyde/AY Maikifi, MRS and Oando have since denied this claim in press statements made available to the public. The product was purchased from international trader, LITASCO and delivered with MT Nord Gainer loaded through the LITASCO loading port terminal in Antwerp, Belgium. The NNPC moved to halt the situation by ensuring that the methanol blended petrol do not get to the filling stations.

In achieving this, the NNPC made sure that all the cargoes that were suspected to have methanol were quarantined, while all the trucks that have left the depots were tracked and intercepted. The NNPC also restocked the depot with cleaner fuels and sent officials to inspect all the filling stations to ensure that they do not have the petrol that had excessive methanol. In addition, the NNPC intensified efforts at increasing the supply of petrol into the market in order to bridge any unforeseen supply gap. A former Lagos State Commissioner for Transportation, Dr Kayode Opeifa, said the action taken by the NNPC in mitigating the potential crisis that would have been caused if the entire contaminated fuel had entered the Nigerian market was timely. He said: "This is what you would expect in this kind of situation. You quarantine the quantity, withdraw those in circulation and then begin investigation and that is the stage that I believe that we should be concerned with so that we don't have damages beyond what we 've had. "To that effect, as someone in the transport sector with analytical chemistry background, I think so far for the public, that is adequate. The product is withdrawn. "We need to be procedural in handling this matter. Vehicles are damaged but it's not a matter that should be handled based on emotions. We need to get answers to how it happened.

"We have regulatory agencies and they have done the needful in terms of isolation, quarantine and restock. For the general public, what is important is that the product is no longer in the market,” he said. According to him, different countries have different specs, however, there is a minimum

standard and the minimum standard was what NNPC said the particular fuel failed to meet. He said that it is not unusual to miss the specs on chemical analysis. “It is not unusual to have product defects. You have heard of car recalls, air bag recalls when they have gotten to the market.

So, the best thing is to ensure that appropriate protocols are used to address this issue. "What I think is the good news out of this whole thing that happened is that it was detected early enough, it was withdrawn within limited time and the fuel supply chain is gradually coming back to normal," he said.

in 2022 financial year was set at N3.019 trillion, consisting of N2.019 trillion for Federation; N253.23 billion for Non-Federation and N746.96 billion for Import VAT. According to him, when compared with the 2021 revenue target, the 2022 revenue target was higher by N965.42 billion or 31.98 per cent. On strategies to improve revenue generation in 2022, Ali said considering the federal government’s drive towards improved internally generated revenue, the Service was collaborating with relevant government authorities to ensure effective implementation of the Finance Act. While disclosing that three functional mobile scanners had already been installed at different Customs locations, he said subsequent to the purchase and deployment of operational vehicles, two sea-going vessels and eighteen patrol boats across Customs’ formations, would enhance the suppression of smuggling activities across difficult terrains.

ASUU Adamant, Declares One-month Warning Strike, FG Says Action Illegal Onyebuchi Ezigbo, Kuni Tyessi in Abuja and Funmi Ogundare in Lagos The Academic Staff Union of Universities (ASUU) has announced its commencement of a roll-over four-week strike beginning from yesterday. But the Minister of Labour and Employment, Senator Chris Ngige has described the four weeks warning strike as illegal vacation. In an Interview with some journalists, Ngige said ASUU's threat to embark on one month warning strike was unwarranted. Similarly, the Ministry of Education yesterday said it was not aware of the purported strike by the academic staff. The industrial action, according to ASUU, followed the failure of the federal government to fully implement the Memorandum of Understanding ( MoU) and the Memorandum of Action (MoA). Some of the union's grievances with the federal government included: Non-deployment of Uni-

versity Transparency Accountability Solution ( UTAS), non- release of the white paper by the visitation panel, Earned Academic Allowances ( EAA) and non- payment of EAA to members of ASUU OAU, illegal appointment of Dr. Isah Ali Pantami as a Professor of Cyber security by the Federal University of Technology, Owerri (FUTO), proliferation of state universities, victimisation of academics in state universities, JAMB encroachment into university autonomy, among others The president of the union, Prof. Emmanuel Osodeke who briefed journalists at the end of its National Executive Council (NEC) meeting held at the University of Lagos, Akoka, expressed concern over the non - implementation of MoA and MoU by the federal government, saying the government was yet to indicate its readiness to sign the draft agreement of the renegotiation of May 2021, to address the deteriorating conditions of Nigeria's public universities. According to him, IPPIS was,

“a cesspool of corruption which glaringly undermines the autonomy of the Nigerian university system,” saying the payment platform was unilaterally imposed by the government to further compound the multi-faceted problems in the universities. He added: "The imposition of IPPIS undermines the universal traditional of sabbatical leave system, visiting and adjunct appointments, and other essential aspects of university autonomy by attempting to integrate the financial and bureaucratic administration of the universities into the Nigerian civil service structure." Osodeke described IPPIS as incompatible with the peculiar attributes and operations of public university system, adding that many years of non-payment of earned academic allowances were triggering industrial crisis in our universities. Speaking on the appointment of Pantami as a professor of Cyber Security, by FUTO, the president argued that he was not qualified

and that his appointment violated established procedure for the appointment of professors in the university. "He is a serving minister and a lecturer, this is very wrong. NEC has directed all members and branches of our union throughout the federation not to recognise, accord or treat Dr. Isah Ali Pantami as a professor of Cybersecurity under any guide. “NEC also resolve to sanction all ASUU members who participated in the process that led to the illegal appointment in accordance with the establishment procedures of our union," the president stressed. He said the union was not insensitive to the genuine concerns about stable academic calendars in public universities, saying the blame should be put squarely at the doorsteps of those who ignored its patriotic yearnings for a development-oriented education in Nigeria. However, Ngige accused ASUU’s leadership of abandoning the Continued on page 30

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NEWS

STAKEHOLDERS’ MEETING... L-R: President, Healthcare Federation of Nigeria, Dr. Pamela Ajayi; Chairman, Senate Committee of Health, Senator Ibrahim Oloriegbe; Lagos State Commissioner of Health, Prof. Akin Abayomi; Director, PPP and Diaspora, Federal Ministry of Health, Dr. Omobolanle Olowu, and Minister of State for Health, Senator Olorunimbe Mamora, during the national stakeholders' meeting on draft national policy, incentivising healthcare service delivery industry held in Lagos... yesterday

Amaechi Drops Unremitted N165bn Allegation against Bala-Usman, Bases Query on Waivers to Dangote, Others Suspended NPA MD responds, pleads innocence to all accusations Emmanuel Addeh in Abuja The Minister of Transport, Mr. Rotimi Amaechi failed to mention the allegation of unremitted N165 billion levelled against the suspended Nigerian Ports Authority (NPA) Managing Director, Hadiza Usman, between 2016 and 2020, to the federal government, a document detailing the query and responses on the matter has shown. The document obtained by THISDAY from Ministry of Transportation sources indicated that rather, Amaechi, in the 20-point query issued to Usman, accused her of granting waivers to billionaire businessman, Alhaji Aliko Dangote, issuing exemptions to Neconde and bypassing him to communicate directly with the presidency. But in a point-by-point response to the query, sent to the perma-

nent secretary in the ministry of transport, copied the chairman, governing board, NPA, dated February 4, Bala-Usman explained that she remained innocent of all the accusations. Several reports had alleged the non-remittance of N165.3 billion “operating surpluses” to the Federation Account by the NPA under Usman, a development that led to her suspension. Amaechi, it was gathered, had thereafter written a memo to the president, recommending a ministerial investigation of the activities of the NPA under her. The administrative panel has since submitted its report. But despite the much-talkedabout N165 billion, the document mentioned waiver, rebates and tariffs granted by NPA without requisite approval in the query,

accusing Bala-Usman of acting beyond her authority as MD/ CEO of the NPA in taking and or approving the action. “In 2019, you unilaterally granted a waiver to Dangote Cement Plc on applicable tariff for export of cement/clinker based on the company’s projections to export up to 5 million metric tons annually. “The said waiver was discriminatory in nature as it was applicable to only one company operating in the sector and there was no justification as to why a selective approach was adopted,” the query read. By virtue of another letter ref No: HQ/ED/M&OP/191 dated 23 March 2021, it stated that NPA clarified to Dangote Cement that the 2019, approval was actually meant to be applicable strictly to the export of clinker and not

inclusive of cement. By in another memo dated March, 31, 2021, the document had stated that the NPA decided to extend the waiver granted to Dangote to all companies in involved in the export of clinker, raising suspicion. But in her response, Bala-Usman stated that the approval she granted for the reduction in applicable tariffs for the export of clinker was from the beginning granted to all exporters of clinker as contained in the directive noted in the memo dated June 18, 2019. She added that she “minuted” the executive director, marine and operations to implement the recommendation for all clinker exports, stressing that based on the above, it was evident that there was no discrimination or selective approach in granting the waiver

as all companies operating in the sector were granted the waiver. Usman averred that the reason for the subsequent directive in March 2021 was because she noticed in a memo dated February 5, 2021, that the marine operations directorate had not acted in line with her directive which stated that the reduction in tariff was applicable to all the clinker export. “ I therefore ‘minuted’ the following to the general manager, tariff and billing. The approval was for all clinker export to all companies,” she explained. Another point of contention, according to the document, was that pursuant to a request by Neconde Energy Limited, BalaUsman authorised vide letter dated February 28, 2019, granting an exemption to the company from the payment of cargo dues from

Rewane: Dangote Refinery Will Not Guarantee Cheaper Petrol Prices Dike Onwuamaeze The Chief Executive Officer of Financial Derivatives Company Limited (FDC), Mr. Bismarck Rewane, has advised Nigerians not to entertain the illusion that the Dangote Refinery would guarantee them cheaper supply of refined petroleum products. Rewane said the most the Dangote refinery would guarantee was improved supply of petrol in Nigeria’s domestic market, but would not affect the foreign exchange position of Nigeria significantly. He said this yesterday, during the 2022 virtual economic outlook organised by the Stanbic IBTC Group, where he projected that the refinery would become operational in the Q1 2023. Rewane said: “Nobody should expect that the Dangote Refinery is going to make petrol cheaper (in Nigeria). It is going to make it more available at any point in time. I doubt it whether he is going to collect his money in Naira because Dangote has costs. “Dangote Refinery technically and theoretically is outside Nigeria as it is situated at the export processing zone. We have a deep sea ports where the ships will take the refined products. But rather than buying from Amsterdam we will buy from Dangote and ship to Atlas Cove, Bonny and Port Harcourt. “The saving (to Nigeria economy)

is that rather than shipping a tanker from Amsterdam to Nigeria, we will be shipping it from Lekki. Another savings is because Dangote refinery is 45 percent more efficient than other refineries because of its cutting edge technology. This will further reduce the cost.” He said what would happen was that Nigeria would take 450,000 barrels and make it available to Dangote under a swap arrangement instead of giving it to refineries in Europe. The CEO of the FDC said taking the crude to Dangote Refinery would be quicker than shipping it to, and bringing the refined products from Europe. “I think that it is quite clear that it will not solve all our foreign exchange problems because it does not change things much. So, it is wrong notion to say that we spend all our money (FX) importing fuel. “No, it is our own fuel that is being refined for us abroad, which will now reside with Dangote. Apart from that I do not think that there is any much difference. The reason is that the price differential will probably be on transportation cost. It is not going to change dramatically our foreign exchange situation,” he said. Rewane also pointed out that that the Nigerian government was in a precarious financial position because, “we have a situation now where the government is desperate. There is a shortfall in government

financing cannot be fixed through subsidy removal.” He said the unsung economic reality in 2022, was that Nigeria would be the poverty capital of the world as ordinary Nigerians on the bottom of economic ladder would spend 101 per cent (sic) of their official income on foods alone. Rewane said food inflation could force many Nigerians to switch to

substitutes to actually reducing the amount of food they are consuming. “A study last year said that 25 per cent of Nigerians are consuming less in quantity than what they were consuming earlier while 50 per cent are consuming less quality than they are consuming previously. This will compromise their immune system and render them more fragile for other reasons.

“In 2015, 63 million Nigerians were gainfully employed in Nigeria. In 2020 it dropped to 31 million people that were fully employed. That is why we are having kidnapping,” he said. The CEO of StanbicIBTC Holdings, Mr. Demola Sogunle, said that the event was to discuss investment and planning as election period draws near

vessels conveying waste waters derived from OML 42 to designated disposal zones. But in her defence, Usman stated that the approval granted to Neconde Energy Ltd was based on a request made by the company stating that oil producing operations of the Nigerian Petroleum Development Company(NPDC) in partnership with the company at the facility, produced wastewater which was required to discharge at offshore. “This operation of the movement of vessels to dispose wastewater at the designated locations are non-revenue generating, hence the ship dues for these non-economic cargo being at par with economic revenue generating vessels movements was considered unjustified. “Hence, I granted the approval for the waiver to enable them effectively discharge the wastewater in line with Department of Petroleum Resources (DPR) and Nigerian Maritime Administration and Safety Agency (NIMASA) guidelines,” she pointed out. In addition, Amaechi accused Bala-Usman of unilaterally granting a waiver without recourse to the Executive Management Committee (EMC) and or board of the NPA to Messrs Port & Terminal Operators Nigeria (PTOL) in respect of its outstanding indebtedness to the NPA in the sum of $100,985,846.83 as at September 2019.

Report Foresees Interest Rate Hike, CRR Reduction Dike Onwuamaeze Proshare, Nigeria’s Economy and Financial Information Hub, has projected that the Central Bank of Nigeria (CBN) would increase rates to curb inflationary pressure on the economy. It further projected that the decline witnessed in the inflationary trend in September 2021, would continue for most of 2022, predicting that the central bank would raise its monetary policy rate (MPR) from 11.5 per cent to 12.5 per cent by Q2 of 2022. It also said the apex bank might opt to reduce its cash reserve ratio (CRR) from 27.5 per cent to between 25.5 per cent and 26.5 per cent in order to boost credit expansion and increases economic output. These projections were contained in the February edition of the Proshare Confidential titled: “2021 in the Rearview, 2022 in

the Headlamp: Opportunities and Threats in Nigeria's Pre-election Year,” which predicted that the country’s GDP would grow at 3.2 per cent. It predicted that a lower CRR would increase banking system liquidity, reduce interest rates and lower companies’ finance costs, and probably product prices. But, “cooling inflation rate would encourage higher domestic savings and investments and raise GDP growth rate and employment. A lower CRR would be more effective in stimulating economic growth in 2022 than the raft of monetary interventions in 2021.” The report, which was released yesterday added: “Tight monetary policy will result in a rise in domestic interest rates and a higher inflation rate; the inflationary knockon effects would need monetary policy intervention. Unfortunately, weak fiscal policy capacity could

upend the ability of the economy to grow GDP in a non-inflationary manner. “Typically, governments cut taxes at times of slow economic growth, but in 2022 the greater likelihood is that taxes would rise, and the federal fiscal tax net would expand. The new tax approach for the year as the federal government tries to plug the fiscal revenue gap.” Proshare said in the report that, “the country's GDP would likely grow at 3.2 per cent in 2022, which would be modest compared to the global GDP growth of 4.1 per cent in the same year, but it would be better than the 0.51 per cent at the end of 2020. “GDP growth for 2021 would settle at 4.06 per cent, given the base rate effect of negative growth in Q2 and Q3 of 2020 and the modest 0.11 per cent growth in Q4 2020. “The slower projected GDP growth rate for 2022 would occur

within a relatively high inflationary environment (recent inflation was 15.06 per cent in December 2021). The slow projected growth would reflect a negative real GDP growth below the country's population rate, meaning lower real GDP per person and frailer retail spending in the year “The slower growth of GDP in 2022 would indicate a modest increase in the various other sectors of the economy except for technology, agriculture and ICT. The fast-moving consumer goods (FMCGs) sector would see lukewarm expansion.” The Proshare Confidential called for a rethink over the perception of the sustainability of Nigeria’s public debt. It stated that market analysts appeared divided on the sustainability of the N38 trillion federal fiscal debt positions as at the end of September 2021.

TUESDAY FEBRUARY 15, 2022 ˾ T H I S D AY

NEWS

NSCDC Arrests 11 Illegal Migrants from Niger Republic, 10 Suspected Kidnappers Adibe Emenyonu in Benin City Edo State Command of the Nigerian Security and Civil Defence Corps (NSCDC) said it has arrested 11 illegal migrants from Niger Republic and 10 suspected kidnappers. The Edo state Commandant of NSCDC, Mr. Aniekan Udoeyop, who stated this yesterday, said that the suspects were arrested along the Ekpoma-Auchi road based on intelligence and distress call from the area. Addressing journalists at the command’s headquarter in Benin City. Udoeyop said that on February 11, the “Edo NSCDC command received a distressed call about the suspicious movement of some persons along the EkpomaAuchi express road” and that he promptly directed his personnel to swing into action, and in the process, the suspects were arrested. He said that investigations were still ongoing and that the illegal migrants would be returned to their country. According to him, “We will liaise with relevant security agencies and see how they can be returned back to their country. “We also arrested three of

the main culprits who brought them in under the guise of giving them lucrative jobs. I will therefore advise parents to be cautious of whom they

give their children out to. “Some of these lucrative jobs these human traffickers promise are actually not there, and it’s just their ploy to modernize

slavery”, he said. He added that the three suspected human traffickers would face the full weight of the law.

On the suspected kidnappers, the commandant said that they were arrested with exhibits including charms, machetes and other dangerous weapons,

adding that the suspects also tried to utilise their charms on the personnel of the corps, but luck ran out of them as their charms failed.

UNITED AIRLINES IS ONE…

L-R: Training Manager, United Nigeria Airlines (UNA), Babara Dan Asemah; Director of Flight Operations, Chimara Imediegwu; Director of Administation, Mr. Linus Awute; Chairman, Chief Obiora Okonkwo; Chairman, League of Airports and Aviation Correspondents (LAAC), Mr. Olusegun Koiki;Chief Operating Officer, Mazi Osita Okonkwo, and Director of Maintenance/Engineering, Allen Ihewiwa, during the one year anniversary press briefing by UNA in Ikeja, Lagos…recently KOLAWOLE ALLI

Furore as FMC Workers 2023: Southern, Middle Belt Leaders Fault Atiku on Zoning Tackle MD over Travails at EFCC, Health Ministry Chuks Okocha and Sunday Aborisade inAbuja

James Sowole in Abeokuta The controversies trailing the reappointment of the Medical Director of the Federal Medical Centre (FMC), Abeokuta, Ogun State, Prof Adewale Musa -Olomu, for second term in office, reverberated as the hospital management and some officers, engaged in accusations and counter accusations over their invitation for questioning by the anti-graft agency, the police and the Federal Ministry of Health. Some workers of the FMC were summoned by the Economic and Financial Crimes Commission (EFCC), the Commissioner of Police, Ogun State Command and the Federal

Ministry of Health, Abuja, sequel to a petition against them over allegation of corrupt practices. The petition against the workers, was written by the South-west Chairman of Inter Party Advisory Council and former Ogun State Chairman of Labour Party, Abayomi Arabambi, alleging that those fanning the embers of discord at the FMC Abeokuta were also not ‘clean’ and that they were engaging in corrupt practices. It was gathered that based on the petition, some senior staff of the FMC affected, including the Board Chairman, AbdulAziz Mahuta, had appeared before an investigative panel set up by the Federal Ministry of Health, Abuja.

The Southern and Middle Belt Alliance (SaMBA), yesterday, faulted a statement credited to Alhaji Atiku Abubakar, that the Constitution of the Federal Republic of Nigeria did not recognise the principle of zoning political offices. The middle belt and southern leaders described Atiku’s comments as disappointing and hypocritical. SaMBA stated this in a statement

by its spokesman, Mr. Rwang Pam Jnr. The former vice president had at a meeting with members of a group, ‘Let’s Fix Nigeria’ reportedly faulted the call for the Peoples Democratic Party to zone its presidential ticket to a particular region of the country. But SAMBAsaid such statement “contradicted Atiku’s previous postures as a statesman that has always demanded for equity, fairness, and justice in the country.”

The group recalled that the former vice president was in the vanguard for zoning in 2011,when he wanted to wrest power from former president Goodluck Jonathan. SaMBA also stated that Atiku had in his campaign for zoning led northern PDP leaders including Governors Aminu Tambuwal, Bukola Saraki, and Rabiu Kwankwaso, to stage a public walk out of the PDP national convention in 2015, because Jonathan had said

he would run for president then. SaMBA, while asking the former vice president what had changed, said, “The same Alhaji Atiku had on December 15, 2010, warned the leadership of the Peoples Democratic Party not to jettison, the already existing zoning of the PDP at the National Stakeholders Conference of the party in 2010, which had the present National Chairman of the party, Iyorchia Ayu in attendance.

NANS Gives Akeredolu Two-Week Ultimatum to Reverse Fee Hike Fidelis David in Akure

The National Association of Nigerian Students (NANS) has given a two-week ultimatum to the Ondo State Governor, Mr. Oluwarotimi Akeredolu (SAN) to reverse the increase in the school fees across the state tertiary institutions, particularly, that of the University of Medical Sciences, Ondo. This is coming few months

after the management of the state-owned university announced the hike in its school fees by over 100 per cent for the 2021/2022 academic session, the development which generated various divergent views from stakeholders. Addressing journalists at a press conference in Akure yesterday, the students led by Ondo NANS JCC Chairman, Comrade Omotosho Surprise, kicked against the increment,

explaining that most students who could no longer meet up with the increase have withdrawn from school. Omotosho, who explained that there was no reason for the state to increase the school fees, considering the current economic challenges the state was facing, noted that the hike in Ondo medical school fees was a notice for parents to withdraw their children.

He said: “It saddens my heart to inform you that tertiary education has been taken away from the reach of indigent citizens of the state. Chief Michael Adekunle Ajasin, the first governor of Ondo state knew the importance of education when he championed tree, fair and quality education. This legacy was sustainable until the arrival of the incumbent administration and their shocking believe that education is not meant for the poor.

yesterday convicted and sentenced an American-trained medical doctor and surgeon, Dr. John Adindu Nweke, to 27 years imprisonment without an option of fine Nweke, who also claimed to be one Senator Haruna Baba Musa, a Senator from Sokoto State, was convicted by Justice Abdulazeez

against him by the Police Special Fraud Unit (PSFU), Ikoyi, Lagos. Nweke’s journey to prison started on October 8, 2016, when he was brought before the court alongside Anike Igwe Stephen (now deceased) and Kelechi Chetachi Emenike (a cart pusher), on a five count-charge of conspiracy, money laundering, false

Among the phones fraudulently received from Konga Online Shopping Limited includes: nine Samsung phones; two blackberry phones; five iPhones; three Sunny Xperia phones and two cameras. They were also said to issuance of dud cheques which were returned due to insufficient funds.

Lagos PSFU’s Legal Department, told the court that the Convict and others committed the offences between April and May 2015, adding that the offences are contrary to Sections 8(a) and 1(1)(b) of the Advance Fee Fraud, and Section 15(1)(a)(ii)(3) of the Money Laundering Prohibition Act, 2004, as amended.

APC Chairmanship: Northern Surgeon, Nweke, Jailed 27 Years over N35m Fraud Group Drum Support for American-trainedAnka, The prosecutor, Mr. Emmanuel after pronouncing him representation and obtaining high Wale Igbintade guilty of charges conspiracy and class phones valued N35 Million Jackson, a Chief Superintendent of Mustapha A Federal High Court in Lagos obtaining by false pretence, made from an online sale outlet, Konga. Police (CSP) and Officer in Charge of John Shiklam in Kaduna

A coalition of northern groups under the umbrella of Conference of Northern Nigeria Revitalisation Group (CNNRG) has mobilised support for the election of Mallam Saliu Mustapha, as the next National Chairman of ruling All Progressives Congress (APC). The group, in a communique issued at the end of its meeting yesterday in Kaduna said: “Mustapha is the only aspirant with practical experience of party administration among other contenders for the chairmanship position. The communique jointly signed by Isah Abubakar and Salihu Danlami, noted that Mustapha is the youngest of those vying for the position and will serve as a bridge builder

between the old and the young who constitute 50 per cent of the voting population. The communique also noted the recent declaration by President Muhammadu that younger-elements should contest party positions at the forthcoming national convention, stressing that Mustapha, should be trusted with the leadership of the APC. Besides, the communique said: “Mustapha, as a first-generation Buharist, who exemplifies the qualities outlined by the President when he recently received APC National Youth Lobby Group at the State House.” The coalition added that as a former Deputy National Chairman of the defunct Congress for Progressive Change (CPC), he has a lot going for him.

Osun 2022: Your Return for Second Term Nonnegotiable, Monarchs Assure Oyetola Yinka Kolawole in Osogbo As the train of strategic engagement tour of Governor Adegboyega Oyetola of Osun moved to Ede Federal Constituency, no less than 150 loyalists of the opposition party, the Peoples Democratic Party (PDP), have defected

to the ruling All Progressives Congress (APC) in Egbedore Local Government Area of the Constituency. The defectors, who attributed their decision to the modest achievements the Oyetola-led Administration has recorded in the last three years, said they resolved to join the ruling party

so as to be part of the success story. Speaking on behalf of the defectors, Mr. Bamidele Sunday, said they were motivated to join the progressive party in the State, having seen and attested to the good works and tremendous achievements of Governor Oyetola.

This is even as Ogiyan of Ejigbo, Oba Omowonuola Oyeyode Oyesosin, Alawo of Awo, Oba Abdul-Rasaq Ajibade Abioye, and the Alayemore of Ido-Osun, Oba Aderemi Adedapo, pledged their solidarity and support for the Governor, saying his “return for second term non-negotiable.”

TUESDAY FEBRUARY 15, 2022 ˾ T H I S D AY

NEWSXTRA

Police Kill Four as Gunmen Attack Two Stations in Anambra David-Chyddy Eleke in Awka Police in Anambra have killed four members of an armed gang that attacked two police station in Anambra State on Sunday night. A source in Ekwulobia, Aguata Local Government Area told THISDAY that the armed men arrived the police station at about 8pm, but were confronted by police men on duty. “We didn’t sleep last night because of fear. Shooting started in Ekwulobia at about 8pm, and continued into the night at about 11pm,” the source said. Anambra State Police Command in confirming the attack said its operatives were able to confront and kill four of the hoodlums. Spokesperson for Anambra State Police Command, DSP Toochukwu Ikenga, in a press release, which he made available to THISDAY said: “The operatives demobilized four of the armed hoodlums and recover 17pieces of 7.62mm live ammunition for Axk 47rifle, 107 pieces of expended 7.62mm ammunition for Ak47 rifle, seven pieces of expended cartridges for pump action, 10 pieces of expended 7.62mm long for

Lar rifle, one big hammer, three phones and a wallet containing identity cards and some ATM cards.” He said: “Preliminary information reveals that one

out of the four demobilized miscreants, now late, Mr Onyebuchi Okoye “M” 34years, who led the attack on Aguata Divisional headquarters was arrested earlier on 4th

November, 2021 with a revolver pistol and six 9mm ammunition by Police Operatives. “He was charged to court for conspiracy to commit felony and unlawful possession of

firearms under section 495 of the criminal code and on 21/01/2022 was granted bail by the Court.” He also revealed that Neni police station was also attacked,

but the gunmen fled the scene due to the superior firepower of the police operatives on duty. He said both stations are intact and no arm or life was lost.

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Chairman, Honeycomb Confectionaries Limited, Mr. Tunji Olugbodi; Executive Vice Chairman, Mrs. Biyi Olugbodi; Special Guest of Honour, Mrs. Modupe Ayoade, and Senior Pastor, Triumphant Baptist Church, Akowonjo, Dr. Sunday Oladejo, at the unveiling of new products line by the company in Dopemu, Lagos… yesterday ETOP UKUTT

Rivers Community Real Estate: FCT Loses 800bn Annually, Says House Committee Gets New Monarch after 10 Years Udora Orizu in Abuja

Blessing Ibunge in Port Harcourt Finima community in Bonny Local Government Area of Rivers State was thrown into celebration yesterday, following the emergence of a new paramount ruler in Finima community almost a decade without a traditional leader. The community stool which have suffered so much threats and litigations have finally rested on Aseme Alabo Dagogo Lambert Brown, as Head of Buoye Omuso Brown Major House and Amadabo of Finima. The emergence of Alabo Aseme Brown resulted from the judgement of a competent court

of jurisdiction in Port Harcourt Suit, No. PHC/174/72 and Enugu Appeal Court Judgment of Suit, No. FCA/E/60/80, as well as a Res-adjudicate judgment of suit No. PHC/ 745/2012. Addressing the tumultuous crowd of community people who came to receive him at ancient palace of Finima, the monarch said the people of Finima will continue to follow legitimate means of conflict resolution despite threats from its neighbours. The paramount ruler noted that as the host community to several multinational companies and the NLNG, any friction will adversely affect the Nigeria’s economy.

The preliminary investigative report conducted by the House of Representatives ad-hoc Committee investigating the operations and activities of Real Estate Developers in Abuja, has showed that Federal Capital Territory Administration (FCTA) loses N800 billion annually in revenues. Chairman of the Ad-hoc Committee, Hon. Blessing Onuh, who disclosed this in Abuja at the

opening of a two-day workshop on the operations of real estate developers in the FCT, said in the short time the lawmakers had carried out its mandate, they found out that the level of impunity by developers across the sector is unprecedented. She said this is obviously not possible without the collaboration of corrupt public officers. “Take for example, a house or land is sold for N500 million, the lawyer gets his legal fees,

the agent gets his brokerage fee, the bank gets its transaction charges and the government gets nothing if the transaction is not presented for registration. And this kind of transactions go on in volumes everyday unregulated, leaving the government with the perennial struggles of meeting up its responsibility of providing a decent welfare for its staff and providing modern amenities to its people. Many of these transactions are done in cash

making the industry a safe haven for money laundering and illicit financial flows. “The committee in different oversight inspections noted with great concern many estates at different levels of completion, some 100 percent completed and occupied but developed without building approvals or without proper titles. We noticed some estates developed on green areas and lands reserved for public institutions like schools.”

Activist Sues Amaechi, IG over Alleged Harassment, Threat to Life

Alex Enumah in Abuja

Human rights activist, Onengiya Erekosima has sued the Minister of Transportation, Rotimi Amaechi and the Inspector General (IG) of Police over alleged harassment and intimidation. In the suit filed before a Federal High Court in Abuja, the Rivers State-based activist specifically accused Amaechi and his co-

defendants of threatening his life and unjustly violating his fundamental human rights. The plaintiff, who is the Founder and President of the Foundation for Peace and Non-violence in Nigeria by the suit sought for N200 million jointly and severally against the two defendants as damages/ compensation for the breach of his fundamental human rights

enshrined under Chapter IV of the Constitution of the Federal Republic of Nigeria 1999 (As Amended). The plaintiff’s lawyer, Samuel Nwosu, who filed the suit asked the court to compel Amaechi and the IGP to pay him N200 million as compensation for the harassment and intimidation he suffered in the hands of the defendants unjustly over the

years. The activist also prayed for a declaration that Amaechi’s declaration, description and tagging him as a “terrorist” without recourse to any due process of law infringed upon his fundamental rights to life, personal liberty, dignity of human person, freedom of movement, freedom from discrimination and right to private and family life.

A co-founder of Super Network Limited, Mr. Raman Obiorah Saliu, yesterday told a Lagos high court that the late Super TV Chief Executive Officer, Usifo Ataga, was stabbed seven times on the neck. He stated this during the ongoing trial of Chidinma

suspect of Ataga. According to him, Ataga was killed like a chicken and was tied up, on both hands and legs like a ram waiting to be slaughtered. Saliu, who broke down in tears while testifying before Justice Yetunde Adesanya of the Lagos High Court, sitting

aside the seven multiple stabs on Ataga’s neck, he was also stabbed in the stomach, and that there were multiple stabs on the two sides of Ataga’s ribs. Saliu, who was led in evidence in chief by the Deputy Director of Public Prosecution, DPP, Mrs. A. O. Oluwafemi, stated that the deceased was

legs like a ram waiting to be slaughtered. The witness who is the fifth prosecution witness, said that he saw a very big cut at back of his two sides of his neck, from his back to his neck as if they were going to perform surgery, when he visited the mortuary.

Police Arraign FFK’s Ex-wife Ataga Died Like Chicken, Stabbed Seven Times on the Neck, Says Witness over Alleged Attempted Murder Wale Ojukwu, the alleged murder at Tafa Balewa Square TBS, said tied up, on both hands and Igbintade

Alex Enumah inAbuja

Estranged wife of former Minister of Aviation, Chief Femi FaniKayode, Ms. Precious Chikwendu was, on Monday, arraigned at a Federal High Court, Abuja, over allegations bordering on attempted culpable homicide of his husband. Chikwendu was arraigned alongside Emmanuel Anakan, Prisca Chikwendu and Osakwe Azubuike, on a 13-count criminal charge bordering on alleged attempted culpable homicide. They were in the charge marked: FHC/ABJ/CR/1/2022, accused of attempt to stab FaniKayode with a kitchen knife on November 24, 2018 at Asokoro, within the court jurisdiction. The Police in the suit filed on January 7, further accused the defendants of committing cybercrime, intimidation to kill Fani-Kayode by use of internet, threat to kill one Lauretta in

order to cause her to leave her relationship with Fani-Kayode. They were alleged to have criminally used internet to send abusive messages with intent to bully, defame and harass her ex-husband. They were alleged to have fabricated false evidence by deposing to series of affidavits that Chief Fani-Kayode physically and sexually assaulted members of his domestics staff and causing same to be electronically published in a national daily. Ms Chikwendu was also alleged to have, through her Facebook page, referred to Fani-Kayode as “Mr Short Fuse”. She was alleged to have published a false imputation against the ex-minister “by referring to him as a person who is sexually incapacitated and that he is not the biological father of the four children she had for him as a wife.”

WAEC Releases WASSCE Result for Private Candidates 2021 Funmi Ogundare

West African Examinations Council WAEC), yesterday, announced the release of the results of the West African Senior School Certificate Examination (WASSCE) for private candidates, 2021 second series. The council is also set to commemorate its 70th anniversary celebration from March 14 to 18, 2022 during its annual council meeting, in Abuja, which will witness an endowment fund

lecture to be delivered by the former Commissioner of Education, Edo State, Prof. Ngozi Osarenren. The Head of National Office (HNO), WAEC, Nigeria, Mr. Patrick Areghan who briefed journalists said out of 52,973 candidates that registered 51,444 candidates sat for the examination. He said a total of 32,637 candidates representing 63.44 per cent obtained credits and above in a minimum of any five subjects

(with or without English Language and/or Mathematics), out of which 15,832 were males and 16,805 were females, representing 48.51 per cent and 51.49 per cent, respectively. He said 25,008 candidates representing 48.61 per cent obtained credits and above in a minimum of five subjects, including English Language and Mathematics. According to him, “of this number, 12, 272 i.e. 49.07 per cent were male candidates,

while 12,736 i.e. 50.93 per cent were female candidates. The percentage of candidates in this category in the WASSCE for private candidates, 2019 and 2020, that is, those who obtained credit and above in a minimum of five subjects, including English Language and Mathematics, were 35.99 per cent and 39.82 per cent, respectively. Thus, there is an encouraging 8.79 percent improvement in performance in this regard.”

TUESDAY FEBRUARY 15, 2022 • T H I S D AY

T H I S D AY • TUESDAY, FEBRUARY 15, 2022

COMMENT

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

NIGERIA’S LEGION OF GHOST WORKERS Kene Obiezu writes that those who reap where they did not sow should be shown the way out

t the core of every content citizenry is the relative ease of finding profitable work or doing business which go into providing the engagement that translates into employment and counts among its unique powers the ability to keep some of man`s most twisted tormentors and most vicious vices away. Gainful employment, whether this translates to working for others or staying self-employed, has always been used as a tool to measure well-being. This is because it has always been demonstrated that the level of one`s satisfaction in life at any given point has a lot to do with how well one is doing with dignified labour or at least how well one perceives one to be doing. As the statistics of unemployment continue to hit double figures in Nigeria, it has become ever more imperative, in fact a matter of life and death, for many to have their names listed in the `book of life’ somewhere, so that at the end of every month, they are able to count their account numbers as being among those that would line up to be counted to receive bank alerts. This usually means stability, necessarily less anxiety to induce sleepless nights. So, there are those who have their names in the payrolls in different state governments and those who have theirs in the payrolls of the federal government. As a country, Nigeria`s struggle to collect reliable data is as historic as it is annoying. Dependable data is often lacking and the effect of this on the Giant of Africa is that many Nigerians are left uncounted and unaccounted for in a world where everyone should count. So, in Nigeria`s civil service there are those who exist only on government payrolls, come alive only when the month ends and salary is due, and generally clog wage bills. They are many and they pose considerable challenges to everything that dignified and responsible work represents. Nigeria as a country has known depredations from many who should protect it. These depredations have assumed many forms. There are those who sabotage Nigeria simply because they are implacably disgruntled and hold out no hope of justice whatsoever. People like these are immeasurably bitter with Nigeria. There are those who do not exactly have any axe to

grind with Nigeria but absolutely and gleefully take any opportunity to grind down the country with both hands. When people like these find themselves in public office, they soon subject whatever is placed under their watch to unprecedented heists. It is through people like these that ghost workers sneak into the payrolls of government at different levels. In fact, once they get into office and have some access to determine who gets in and who stays, they act ruthlessly. Sensing the opportunity to reward their cronies, they staff government payrolls with names of the living, the dead and the fictitious. So, someone who lives in Lagos State remains on the payroll of some hapless local government in Delta State. While the person contributes next to nothing to the state by way of profitable work, at the end of the month, considerable sums of money make the journey into their accounts. All for doing nothing. There is a reason a country that is so blessed is still very far from where it is supposed to be; there is a reason a country of abundant resources continues to report ruination of catastrophic levels. Corruption is the reason. It has long been the reason. Corruption in Nigeria does not only exist at the highest levels. It trickles down. Of course, it begins from the head. But like water poured on the head, it trickles down until every part of the body is soaked. So, what obtains in Nigeria is simply that the higher the office, the more toxic the tendency to be corrupt. Thus, the one who has her name on the payroll of a local government in Delta State but never as much as visits the local government in a year is as guilty as the one who as director in any of the MDAs doles out contracts that will never be executed to their cronies.

CORRUPTION IN NIGERIA DOES NOT ONLY EXIST AT THE HIGHEST LEVELS. IT TRICKLES DOWN. IT BEGINS FROM THE HEAD. BUT LIKE WATER POURED ON THE HEAD, IT TRICKLES DOWN UNTIL EVERY PART OF THE BODY IS SOAKED

There are also wage bills that are laden with ghosts – real dead people. When pay day comes around, the living lives off the property of the dead. While the country continues to pay ghosts, work ethic remains painfully poor. It is little wonder that nothing really works. To do that effectively and comprehensively would mean that all those who reap where they did not sow in the country necessarily have to be shown the way out. keneobiezu@gmail.com

LAGOS AND INFRASTRUCTURE RENEWAL LASIAMA is ensuring the provision of quality maintenance services in the state, writes Rasak Musbau

he Lagos State Infrastructure Asset Management Agency (LASIAMA), has been at the forefront of implementing the Governor Babajide Sanwo-Olu administration’s strategy on infrastructure renewal. In the past two and a half years, the agency has implemented several projects with the aim of improving and maintaining public infrastructure assets, while also creating employment and opportunities for small/medium scale businesses to thrive. Schools’ facility management and maintenance exist to support the primary purpose of education. The core responsibility of LASIAMA in this regard is to ensure that, through the provision of quality maintenance services, teachers and students operate in an environment that is safe, healthy and responsive to education. Maintenance of the projects, which are being facilitated by the Lagos State Infrastructure Asset Management Agency, LASIAMA, are enabling the actualization of the Third Pillar of the T.H.E.M.E.S Agenda, which stands for Education and Technology. Based on Governor Sanwo-Olu’s mandate, LASIAMA has given education facilities a priority, with major and minor rehabilitation of secondary schools in the State. The renovation works, which commenced in year 2019, has so far covered more than 100 public secondary schools, spread across the state’s three Senatorial Districts. The very recent renovation works done at schools were carried out in Aiyedere Ajibola Junior and Senior High Schools, Anibaba Ketu in Kosofe, Army Children Junior High School, Epe; Randle Junior Secondary School, Apapa; Unity Junior High School, Tolu in Ajegunle; Magbon Alade Senior Grammar School, Ibeju Lekki, Ipakodo Junior Grammar School, Ikorodu, amongst others. In addition to renovation works, for the first time in Lagos State, LASIAMA piloted a six-month structured maintenance framework for recently

rehabilitated 94 public schools. There are many consequences of infrastructure improvement in the state and one of the most important of these, especially in the education sector is that teaching and learning have improved quite well. Teachers and students are now learning in a conducive and secure environment. That the health and well-being of Lagosians remain a key deliverable of the Sanwo-Olu administration’s T.H.E.M.E.S. agenda is never in doubt. Sanwo-Olu has continued to give priority attention to the rehabilitation and maintenance of General Hospitals, Maternal and Childcare Centres (MCCs) and other health institutions in the state. This is in fulfilment of his promises to give Lagosians unhindered access to quality and affordable health care services. Establishing an infrastructure standardization and guideline policy document have also assisted in the holistic implementation of the renewal of health facilities across the state. The renovation of the facilities, which was facilitated by LASIAMA, has been very extensive, highly impressive and very visible in all the Maternal and Childcare Centres (MCCs) across the state. LASIAMA has also intervened in revamping facilities at other health institutions such as the Lagos State University Teaching Hospital (LASUTH), Lagos State University College of Medicine (LASUCOM), Burns and Trauma Centre at the LASUTH Annex, Gbagada as well as renovation and upgrading of facilities at the Infectious Disease Hospital, (IDH) Yaba. Others include the infrastructure renewal at the General Hospital, Odan and Doctors Quarters in Lagos Island General Hospital, maintenance of Lagos Island Maternity Hospital, Lagos State Accident and Emergency Centre at the LagosIbadan Toll Gate and Ikorodu and Folarin Coker Staff Clinic in the State Secretariat, Alausa - Ikeja. To sustain the current tempo of public health infrastructure renewal in the state, the Sanwo-Olu administration has developed maintenance

frameworks for all the facilities. Some of the hospitals have an average of 43 non-clinical operations and maintenance employees as cleaners, security personnel, gardeners and plumbers, carpenters, including a facility manager, who has the responsibility of coordinating scheduled and unscheduled maintenance as may be required. In recent years, the requirements for fire safety have increased whereas the maintenance of the stations have been neglected. To improve the state’s capacity to fight fire incidents Governor Sanwo-Olu has approved the rehabilitation of all fire stations in the state. The projects were in two parts and covered the 16 fire stations inherited by the administration. The first was the renovation and upgrading of 13 stations, two of which were torched during the EndSARS crisis. The stations include Mobolaji Johnson Fire Station, Agege Fire Station, Ikorodu Fire Station, Sari-Iganmu Mini Fire Station, Lekki Phase II Fire Station, Ojo Fire Station, Abesan Fire Station and Ejigbo Fire Station, etc. The second involves the reconstruction of two others, in Lekki Phase 1 Fire Station and the Headquarters at Alausa. The reconstruction of the headquarters will upgrade the old bungalow structure into a storey building to provide more space for the growing personnel. The renovation has brought about considerable improvement in the working conditions of personnel. It is also ensuring effective service delivery by aiding prompt deployment of services and shortening response time to emergency locations. Investment in the Lagos State Fire and Safety Service is an illustration of the importance that the administration of Governor Sanwo-Olu attached to security of lives and property. Well-designed government buildings are an important part of communities and are intrinsic to health and success. They accommodate and facilitate the delivery of public services and

enhance the quality of the urban structure and its public spaces. Government buildings contribute to efficient functioning and urban character. They reflect the values and achievements of the community and need to be efficient, represent good value for money and demonstrate a high level of environmental stewardship. LASIAMA has been mandated by Governor Sanwo-Olu to renovate office buildings in order to increase safety, security and productivity. Extensive renovations on many office buildings include blocks four, five and 20 in the State Secretariat which houses the Ministries of Information and Strategy, Health, Works and Infrastructure, Housing and Public Service Office/Office of the Head of Service, along with of the agency for Mass Education. LASIAMA is also renovating the Offices of the Local Government Service Commission in Old Secretariat, Lagos State Drivers’ Institute (LASDRI) in Oshodi and the buildings of Radio Lagos/Eko FM, Lagos Television (LTV) building complex. Others include Public Works Corporation in Ojodu-Berger, the LAMATA headquarters in Oshodi, FADAMA Office Complex in Agege and the headquarters of Lagos State Waterways Authority (LASWA). The governor aptly describes what the agency is doing: “The continuous improvement of public sector productivity is vital to achieving my promises to Lagosians, which is why we have prioritized the modernization of Lagos State Buildings. “Government buildings play a fundamental and aesthetic role in the development and enrichment of cities including a rapidly developing state like ours. I believe good designs are essential to meeting the future environmental challenges of big cities; creating places people identify with and embrace; in addition to differentiating government buildings for easy access and identification.” Musbau is Assistant Director, Public Affairs, LASIAMA, Alausa

T H I S D AY • TUESDAY, FEBRUARY 15, 2022

EDITORIAL SEPCOL DISASTER AND NIGER DELTA The oil companies should be held to account

he National Oil Spill Detection and Response Agency (NOSDRA) has classified the latest Shebah Exploration and Production Company Limited (SEPCOL) oil spill under a tier two, which means it is beyond the capacity of a single company to handle. Since the vessel reportedly contained 60,00 barrels of crude when it caught fire, the environmental impact can only be imagined. This latest spill and attendant human and environmental losses should be treated with urgent and appropriate seriousness. It is unacceptable that previous tragedies were handled with laxity. The country cannot afford these spiralling losses. A transparent, independent investigation, with the support of respected international institutions is urgently needed. The SEPCOL Trinity Spirit Floating, Production, Storage Offloading SPILLS POLLUTE THE (FPSO) vessel WATERS AND AIR, KILL disaster only adds PLANTS, ANIMALS, to the concern of DESTROY HABITATS AND environmentalists GENERALLY AFFECT THE that these avoidable spills may not stop QUALITY OF THE CREEKS because the sector is AND OCEANS not strictly regulated by the federal government. On 5th November last year, there was a major blast at Aiteo Eastern Exploration and Production Company (AEEPCO), operator of the NNPC /Aiteo Joint Venture of Oil Mining Lease (OML) 29. The wellhead (Christmas Tree) leaked in its Santa Barbara, Southwest field, in Nembe Local Government Area of Bayelsa State. For weeks, it spewed crude oil into the water body. Most of that huge quantity of crude oil is floating all over the sea and has been carried far to all the coastal communities. The SEPCOL disaster has only compounded the problem. Indeed, the notoriously frequent blowout of crude oil facilities in the Niger Delta is a grave threat to the nation’s economy, marine ecosystem and the defenseless villagers on the coastline who depend on the sea and its feeder

Letters to the Editor

rivers for their livelihood. Oil companies should be made to bear full responsibility for their actions that harm human life and the environment. That is what obtains in most other countries. The latest blast therefore presents an opportunity for the government to defend the rights of the people and secure for them proper compensation and restoration.

T 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

TO OUR READERS Letters in response to speciﬁc publications in THISDAY should be brief (150-200 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

NNPC AND THE ADULTERATED PETROL

he circulation of adulterated petrol has continued to generate uproar in the country. The unfortunate development has led to scarcity of petrol in our major cities as queues have since returned to many filling stations in the country. The NNPC managing director, Mele Kyari, has blamed some oil marketers for the importation of the toxic fuel with high methanol content. President Muhammadu Buhari and members of the House of Representatives have called for investigation of those responsible for this act of shame. This is a welcome development. The petroleum industry has over the years become a cesspool of corruption. Nigeria is sixth largest producer of crude oil in the world. Despite its vantage position, the country’s four refineries have remained moribund with poor production capacity. These erratic refineries have continued to gulf billions of naira every year in the name of maintenance with dismal output. Last year, it was reported that over N100billion was spent on the turnaround maintenance of the four refineries. The inability of the country to have functional refineries resulted to the emergency of many importers who connived with corrupt government officials to exploit the system. Most of the fuel subsidy government pays usually goes to their pockets. If these companies

he careless nature of the operations of the petroleum sector is a direct affront to the right to life of Nigerians. Spills cover large swaths of water bodies, including swamps, rivers, estuaries in the Niger Delta. The damage done by the spills is both immediate and long term. Spills pollute the waters and air, kill plants, animals, destroy habitats and generally affect the quality of the creeks and oceans. Besides, pollution in one location in the sea exposes everyone to risk. This is so because a ﬁsh could ingest crude oil in Delta State and enters the food chain in Lagos or anywhere else in the nation. Measures the federal government wants to take to stem future occurrence are not known and have never worked, considering the increasing number of spills recorded in recent months. These companies should be held to account and compelled to do proper cleanup and pay adequate compensation to the affected communities. The federal government also needs to put indigenous oil producing companies under scrutiny because environmentalists believe they have become careless. The enactment of the Local Content Act had given room for the participation of Nigerian operators in the oil and gas industry but there are growing concerns that many hardly adhere to global best practice. The Aiteo and SEPCOL cases are being cited as examples in that regard. Meanwhile, it is disturbing that NOSDRA lacks the funds or clout to independently check the activities of oil companies. In fact, each time there is a disaster, it is the offending company that transports their regulators to the sites. This creates a serious conﬂict for those responsible for industry oversight. We therefore call on the federal government to ensure that the regulators are properly funded to ensure their independence and effectiveness.

or marketers could inflate the figures of imported fuel without qualms, one will not be surprised if they have flooded the country with toxic and unfit premium motor spirit (petrol) for our consumption. After all, these importers have become too powerful and untouchable in the country. They are billionaire cartels who can spend their last kobo to frustrate government’s efforts to get rid of their foul play. With the Petroleum Industry Act, Nigerians expect nothing less than an efficient and transparent petroleum industry. The PIA comprises set of laws intended to unbundle the sector and pave the way for more investment which among other things the building of new refineries by private investors. However, what put the cart before the horse is government’s decision to suspend subsidy removal in the next 18 months. While many view it as good move, it has dashed the hopes of having a robust petroleum industry. Subsidy is cog in the wheel of genuine desire to reforms. The circulation of adulterated PMS with its destructive consequences to our automobiles and ecosystem should serve as a wake-up call to government. Unless issues of fuel importations are fully addressed through the establishment of more private refineries, toxic petrol will always find its way to the country. Ibrahim Mustapha, Pambegua, Kaduna State

THE ISSUES IN 2023

re Nigerians ready for the 2023 elections? This is a pertinent question, I ask owing to what I see when Nigerians interact. I still see a large tilt towards sentiments, people are still concerned about where the candidate is from or how to destroy the candidate. The fundamental issues in this election will be a response to our economy. In the last 10 years, the Nigerian economy had suffered greatly both from external and internal forces. This had brought unparalleled hardship to Nigerians and the interventions of government to solve the problem. The cardinal point of our introspection should be one, the integrity of the candidate and how they fund their campaign because there is also a great correlation with corruption and two, what they will do to revitalize the job market and solve the problems of insecurity. To be able to situate the conversation around the issues is germane as this will bring solutions to most of our challenges. I must reiterate that failure to talk about the issues will be dire, as Nigeria suffers threatening unemployment rate and the economic imbalance is leading to various heinous vices in society. Nigerians should ask candidates how they intend to fix the insecurity problems and also evaluate their strategies. Also we must have very robust debates. I believe one presidential debate is not good enough; at least we should have three prior to Election Day. This I believe will bring about clarity. This is not the time to talk about candidates urinating on their bodies, we must have a culture that encourages candidates to show their medical records and the conversation about health is also sensitive because anyone can fall ill at any time. Let’s talk issues.

Rufai Oseni, rufaioseni@gmail.com

TUESDAY FEBRUARY 15, 2022 • T H I S D AY

T H I S D AY ˾ TUESDAY FEBRUARY 15, 2022

POLITICS

Group Politics Editor NSEOBONG OKON-EKONG Email nseobong.okonekong@thisdaylive.com (08114495324 SMS ONLY)

Again, AbdulRazaq, Saraki Fight Dirty Hammed Shittu writes that the camps of Governor AbdulRahman AbdulRazaq of Kwara State and Dr. Bukola Saraki are at daggers drawn to the heart of the people

AbdulRazaq

he battle for the soul of Kwara state ahead of 2003 has continued unabated as the two leading political gladiators in the state have refused to sheath their swords on who will lead the state and this has continued to generate political tension. The former Senate President, Dr. Bukola Saraki has not relaxed in his determination to reclaim the leadership of the state since he lost political power to the current leadership in the state headed by the state governor, Mallam AbdulRahman AbdulRazaq during the 2019 elections Saraki fondly called “Sai “Bukky.” by his supporters, has set all strategies on ground through his party, Peoples Democratic Party(PDP) to garner more support so as to wrestle power from he ruling APC. On the part of Governor AbdulRazaq, he has not hidden his feelings to seek reelection come 2023 and his party, the ruling APC has been working round the clock so as to ensure the status quo remains in the next elections. This present scenario has brought the two political gladiators into public domain and thereby leading to the exchange of words over the governance of the state in the bid to win the next elections. Although, strong indications have it that, a third force may also come forward to challenge the two dominant parties leadership during the poll so as to provide an opportunity for the people of the state to make a choice when the battle for the Ahmadu Bello Government House, Ilorin sets in during the next elections. While the ruling APC is leaving no stone unturned to present the incumbent Governor of the state, Alhaji AbdulRahman AbdulRazaq for second term, it is only waiting for the outcome of the national convention of the party slated for February 26. Already, the governor has taken over all the party structures in the state in order to assist him to actualize his reelection bid. Last year’s state primaries of the APC has attested to this fact. From the wards, local and state levels, executives of the party in the state are in the hands of the governor without any hindrance. The opposition, PDP in the state led by Saraki have also been embarking on membership drive and mobilisation across the wards in the state so as to help the party wrestle power from the ruling the APC. The APC primaries held at Atlantic Event centre, Ilorin was also attested to this fact as it was held in a peaceful manner and devoid of any faction in the party. Also, the recent decision of the leadership of the party to zone the governorship ticket to the Kwara north senatorial district of the state ahead of the next polls has set another agenda for the PDP to actualize its main move to reclaim power during the period under review. The development according to political pundits in the state was meant to address the feelings of the people of the Kwara North senatorial district, having been disallowed for

Saraki

many years to take governorship ticket of the state. The last time the zone took the slot was during the time of the former govenror Muhammed Shaaba Lafiaji in 1992 but it was shortlived because of military intervention. Since then, the state has been governed by the people of the Kwara Central senatorial district and the Kwara South senatorial district of the state. It will be noted further that, the former Naval officer, Late Muhammed Alabi Lawal from the Kwara Central senatorial district was elected as the govenror of the state in 1999. The former governor tried to have a second term then but the political battle between his godfather and strongman of Kwara politics, Late Dr. Olusola Saraki denied him a second term to rule the state. Instead, the scion of the godfather and former Presidential Aide to former president Olusegun Obasanjo, Dr. Saraki emerged as the governor of the state in the keenly contested governorship election of 2003 against late Alhaji Muhammed Lawal. Bukola Saraki however emerged the governor of the state during the period under review and later ruled the state till year 2011, thus completed his second term in office of eight years, thereby paving way for the second time for the people of the Kwara Central senatorial district to rule the state. After the second term in office of the former Saraki, the Share born technocrat and banking guru, Alhaji Abdulfatah Ahmed took over the mantle of leadership of the state in 2011 and ruled the state till 2019. Ahmed hails from the Kwara South senatorial district of the state. After former governor Ahmed ruled the state for second term in office, the incumbent governor of the state, Alhaji AbdulRahman AbdulRazaq who also hails from the Kwara Central senatorial district took over the mantle of leadership of the state and he has since been in charge of the state. However, in view of this development in the state, the people of the Kwara North senatorial district ahead of 2023 formed themselves into a pressure groups to agitate for the power shift in the coming elections. For past seven months, the people of the Kwara North senatorial district have been embarking on series of mobilisation

and contacts across all borders of the zone to intimate their people on the need to join the train of power shift in the state ahead of the next poll in the state. Some stakeholders of the PDP in the Kwara Central senatorial district have continued to have their reservations over the move by the leadership of the party to take the governorship ticket to the Kwara north senatorial district in view of the maximum votes in the Kwara Central senatorial. Some of them who spoke on the condition of anonymity over the development said that, taking the governorship ticket to the north this time around may be suicidal for the PDP, knowing fully that if the GovernorAbdulRazaq recontests, the people of Kwara Central may go for him as against the candidate from the North. Although, the leadership of the PDP has told north senatorial to go home and work together to bring o consensus candidate from the zone by February this year and failure to do this, the party leadership may use its sledge hammer to go for other zones to pick the governorship candidate of the party ahead of the next poll. Already, governorship aspirants from the party in the North have increased to 10. The aspirants cut across the ruling APC and the PDP and have been mapping out plans to educate and mobilize the people of the zone for the plumb position. Following the decision of the PDP to zone its governorship ticket to the Kwara north senatorial district ahead of the next general elections, the ruling APC government in the state seems not too comfortable over the purported zoning arrangement as the number three man presently in the state who is the speaker of the state House of Assembly, Rt Hon. Yakubu Salihu-Danladi hails from the Kwara North senatorial district of the state. Reports in the Kwara North senatorial district revealed that, the Speaker has been positioned to take over the leadership of the state come 2027 after the incumbent Governor might have completed his second term in office and this has brought a new twist into the political leadership of the state ahead of the next poll in the state. Although, the incumbent Governor is yet to declare his intention to run for the second term in office in the state but some stakeholders in the state especially the ruling APC have said in many fora that the Ahmadu Bello Government House,

This present scenario has brought the two political gladiators into public domain and thereby leading to the exchange of words over the governance of the state in the bid to win the next elections

Ilorin is not vacant come 2023. Moreover, in order to position the APC led government ahead of the poll, a well structured article was recently released to the media in Ilorin by the Governor AbdulRazaq’s Chief Press Secretary, Mr. Rafiu Ajakaye. It was titled, “A Note on the Kwara Journey”. Ajakaye said that, “On October 26, 2021, former senate president Bukola Saraki was on a national television to attempt a rebrand of himself ahead of the 2023 election. “In what many have called his signature conceit and the groupthink into which his beleaguered camp has sunk, the politician said the people of Kwara had misjudged his dynasty. He feels Kwara was better off in 2019 — the same truthiness his henchmen and social media kamikazes have latched onto. “American satirist Stephen Colbert defined truthiness as a situation whereby people make claims they desired to be true even when there is no evidence to support that. For the former senator and his followers, what unseated the dynasty was propaganda. “This claim, in itself, is an unforgivable crime against the people who lived the grim realities and indignities of his ironfisted rule. Nobody got anything in Kwara except through and from them. But there is a group feeling among the Sarakites — with perhaps a few exceptions — that they were never wrong and that they cannot be wrong. It is what pushes them to deny what everyone knew about the Kwara story”. He added, “2022 will see a ridiculous spike in how Sarakites ‘create their own realities’, apologies to Karl Rove. Before that happens, it is important to remind them, and anyone who may be listening to or echoing them, where Kwara was in 2019 and where it is now. “As sarakites bade public office farewell in 2019, data from the National Primary Health Care Development Agency (NPHCDA) DHIS2 platform showed that maternal mortality ratio in Kwara was 1,404.4 per 100,000 deaths. That was the second highest in Nigeria after the insurgence-wracked Borno State. Given the situation of Borno, it is only fair to say Kwara actually wore the ignoble crown. At the end of 2020, maternal mortality ratio for Kwara came down to 20.7 per 100,000 live births, the second lowest in the country after Ekiti”. Ajakaye explained that, “difference between pre-May 2019 and 2020 is leadership, its priorities, and understanding of what constitutes development. “For years, UNICEF and other development agencies left Kwara. Supplemental immunisation dropped drastically due to non-payment of counterpart funds by the state. Basic healthcare facilities collapsed statewide. As of 2019, the Kwara Primary Health Care Development Agency had just a nurse to itself. You read that well. Consequently, attendance in public primary hospitals hit a record low of just 43,936. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾TUESDAY FEBRUARY 15, 2022

POLITICS

Osun APC Crisis: Aregbesola Loyalists Under Attack Yinka Kolawole writes that a new wave of violence has engulfed Osun State as rival factions loyal to Governor Adegboyega Ouetola and Minister of Interior, Mr. Rauf Aregbesola engage in frequent fracas

Oyetola

ollowers of Mr Rauf Aregbesola, the Minister of Interior, appear to be under siege in the face off the rocking the All Progressives Congress in the State of Osun. THISDAY reports that no fewer than 16 politically motivated attacks have so far been carried out against Aregbesola’s loyalists and their property between Sunday, March 28, 2021 and Thursday, February 4, 2022. These, according to security experts, are an indication that there is a resurgent wave of political violence which if not checked could result to full blown breakdown of law and order in the state. It was noted that prior to the crisis between Governor Adegboyega Oyetola and his predecessor, Aregbesola, there was no record of political violence within the APC in Osun. But violence erupted in the party when the rift between Aregbesola and Oyetola became public. “The need to establish ‘where power is’ through suppression of opposing voice to the governor’s second term is responsible for the resurgence of political violence in the state,” said a political analyst. THISDAY noted that attacks on the Minister’s loyalists started when some hoodlums attacked Aregbesola’s Personal Assistant, Mr. Olateju Adunni, on March 28, 2021 in Osogbo. Adunni was attacked at a birthday event for Hon. Taofeek Badmus, who is representing Osogbo Constituency at the House of Assembly. According to Adunni, the leader of the hoodlums that led the attack was a known notorious thug who with his gang members have been enjoying executive protection in the state. Also, scores of members of the APC who belong to The Osun Progressives (TOP), a caucus of the party, were attacked in different parts of the state during the July 31 2021 Ward Congress of the party. The attacks were carried out by hoodlums allegedly sponsored by Governor Oyetola’s IleriOluwa camp which wanted to enforce consensus against the elective congress demanded by TOP members. During the ward congress, some members of the APC who participated in the elective ward congress in Osogbo, Iree, Ilesa, Ikire, Ife, Oyan were attacked and harassed by political hoodlums. On August 14, 2021, some members of the APC who were at the party’s secretariat in Osogbo to submit their petitions on the conduct of the ward congress to the appeal committee were attacked by hoodlums. The sitting of the appeal committee was abruptly brought to an end at past 4pm when hoodlums who had gathered at the secretariat started throwing stones at the petitioners. The hoodlums were chorusing ‘No Petition, No petition,” as they launched attack on the peaceful APC members. THISDAY noted that the majority of the hoodlums put on ‘Oyetola 4+4’ fez caps. They sneaked into the premises of the secretariat and

Aregbesola

settled behind a container where they were smoking cannabis sativa. The hoodlums fired a gunshot into the air before throwing stones at the petitioners while the security operatives at the premises of the secretariat were helpless. On the evening of August 14, 2021, the residence of the former commissioner for Youths, Sports and Special Needs, Comrade Biyi Odunlade in Ile-Ife, was attacked while his car was vandalized. The assailants had wanted to maim him but he was lucky not to be at home. On August 26, five gunmen laid siege to the house of the Youth Leader of the Salinsile faction of the APC, Mr. Abosede Oluwaseun, at Dada Estate, Osogbo. The gunmen subjected Oluwaseun and his wife to inhuman treatment before taking away his phone and the little amount of money with him. Oluwaseun was asked to deactivate his password on the phone by the gunmen before taking it way. According to him, the gunmen appeared to have come for just the phone, but needed to dramatize to make their operation look like armed robbery. Some members of the party who belong to TOP were also attacked by hoodlums in Ede during the Local Government Congress of the APC, held on September 4, 2021. On September 12, 2021, APC members who belong to TOP were attacked around 5pm at St John’s Grammar School, Oke Atan, Ilode Area, Ile-Ife, where they were holding their weekly meeting. According to eye witnesses, the thugs who were about 20 stormed the meeting with a wine colour Space Bus driven by a former youth leader of the party and motorcycles. About 15 people sustained injury in the attack that lasted for about 30 minutes, according to the victims.

On October 18, 2021, Women Leader of the APC in Boripe Local Government, Mrs. Yemisi Asiyanbola and two members of the party, Mr. Joseph Adegboye from Ward 5, Ada and Mr Gbenga were brutally attacked by thugs. Asiyanbola and the two APC members were attacked at their various houses for belonging to TOP, according to them. During the parallel State Congress of the party held at an open space hectre of land, opposite Ladsol Pure Water, Ogo-Oluwa, Osogbo, two members of the party were shot by armed political hoodlums in a massive attack launched on the party faithful on October 16, 2021. The hoodlums had attacked members of the party in attempt to disrupt the congress which produced Hon. Rasaq Salinsile as Chairman, Alhaji Azeez Adesiji as Deputy Chairman and Hon. Adelani Baderinwa as Secretary of the party. Mrs. Adedapo Atobatele and Mr. Ismail Akinyode were directly shot by hoodlums during the attack. On November 16, 2021 members of the APC who belonged to the Salinsile faction of the party were also attacked in Ipetumodu, Ife North Local Government of the state. THISDAY also gathered that the attack came after the Caretaker Chairman of the local government, Hon. Ayoola Adeyeba, stopped the APC members from holding factional inaugural meeting of the elected executives of the party in the local government. The council chairman was said to have insisted that the APC members would not hold the meeting, in spite of the notification sent to the police and Department of State Service. But Ayoola denied the allegation that he led thugs to attack the APC members. Members of The Osun Progressives (TOP) were also attacked by some gunmen during their meeting at Oranmiyan House, Osogbo on November 18, 2021. The gunmen shot sporadically, beating the APC members and destroyed canopies at the meeting. There was an attempt to disrupt the TOP meeting at Eripa, Boluwaduro Local Government, by some political thugs allegedly hired by some government officials in the local government, on January 5, 2022. Eripa Town Hall where the meeting was

The attacks were carried out by hoodlums allegedly sponsored by Governor Oyetola’s IleriOluwa camp which wanted to enforce consensus against the elective congress demanded by TOP members. During the ward congress, some members of the APC who participated in the elective ward congress in Osogbo, Iree, Ilesa, Ikire, Ife, Oyan were attacked and harassed by political hoodlums

supposed to be held was shut when TOP and the IleriOluwa faction wanted to resort to violence. However, there were gunshots in the town after the TOP members left the town hall to hold the meeting elsewhere in the town. The gunshots were reportedly fired by hoodlums to harass and intimidate the TOP members. On Tuesday, February 1, 2022, the APC members in the Salinsile’s faction were also attacked by political thugs in Ikirun during a Federal Constituency meeting. The attack was carried out at two different times on the same day by the hoodlums. Some of the thugs reportedly used ‘Oyetola 4+4 face caps. However, some of the organisers of the meeting were arrested by the police, charged to court and remanded in Ilesa Correctional Centre. The development is part of the reason why the Salinsile faction accused the Commissioner of Police, Mr. Wale Olokode of bias, arguing that the police left the real suspects to arrest the victims of the attack. Just a day after the Ikirun attack, the Caretaker Chairman of Oriade Local Government, Mr. Bunmi Obeisun, was accused of harassing members of the APC in an attempt to prevent them from holding the Federal Constituency meeting in Ijebu-Jesa, on February 2, 2022. A retired United States Navy officer, Bamidele Fagbulu, also accused Obeisun of leading hoodlums to attack him same day. Fagbulu alleged that Obeisun first slapped him before ordering the hoodlums to descend on him in front of First Bank, Market Square, Ijebu-Jesa around 11:30am. The Salinsile faction was to hold a meeting at IK Dairo Park, located around the Ijebu-Jesa Central Mosque. But the meeting could not hold as hoodlums, allegedly acting on the order of Obeisun stormed the venue of the programme and destroyed the chairs and canopies there. The development led to the suspension of the meeting. The mother of all the attacks was the one carried out on Oranmiyan House on Thursday, February 3, 2022. Gunmen, who were said to be about five in number, laid siege to the building around 5:10pm. The gunmen, according to eye witnesses, sprayed the building and the transformer outside with bullets. According to the witnesses, the gunmen threw petrol-soaked foam inside the building and on the canopies in the compound in an attempt to set the building ablaze. On the evening of that day, some members of the APC were attacked in Ifon, Orolu Local Government of the State. The APC members were attacked where they were holding their meeting at Ayetoro, opposite Carpenter Hall, Ifon. According to some of the APC members NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

TUESDAY, ͹ͽ˜ ͺ͸ͺͺ ˾ T H I S D AY

THE ALTERNATIVE

with RenoOmokri

What Is Behind The Resurgence of Coup in West Africa?

irst it was Mail, and then Chad, next was Guinea, then Burkina Faso, and now Guinea-Bissau, military coups d'état have spread all over West Africa with a domino effect that is staggering, and unflattering. What is happening? Why is this negative wind of change blowing in our sub-continent, when the rest of Africa, and even North Africa (the last coup zone frontier of the continent) has gone beyond a nascence of democracy to an entrenchment of the parliamentary system of government. It is too simplistic to blame this resurgence on corruption and maladministration. With the 7% inflation causing a shock in the stock market, America under Biden is not exactly a model of good governance. Yet, a military coup is unthinkable in the United States and England, where my good friend, Boris Johnson, has been having Naira Marley-like parties at Number 10 Downing Street (the only difference is that Naira Marley was charged to court). West Africa has its own fair share of governmental challenges, however, if we do not nail down the cause of the resurgence of coups, then no government is safe in West Africa. Why? Because the best predictor of future events is past events, and this is how it started in the sixties. It started in Togo, on January 13, 1963 when Gnassingbé Eyadéma and co. assassinated President Sylvanus Olympio. This was followed by the October 28, 1963, Christophe Soglo coup in Dahomey, now Benin Republic, which overthrew President Hubert Maga. That action which began in Togo, made the sixties an era of coups in West Africa, and we pray that the Twenty-First Century will be better for our sub-region. But we have to do more than pray. We must carry out a post-mortem, because if this coup contagion is not contained, it will become a sub pandemic. It would seem, from historical data, that Francophone West Africa has traditionally been the start of the domino. Why is that? Recent revelations coming out of Burkina Faso seem to suggest that authorities in France knew about the coup that took out Thomas Sankara and may even have ordered it. Certainly, the admission by then French President, François Hollande, that France aided Burkina Faso’s president, Blaise Compaoré, lends credence to that accusation. So, do we blame outside forces for instigating these coups? And why has Francophone West Africa been the trigger for this undesirable turn of events? Francophone West Africa is already too tied to France’s apron strings. Their currency, the CFA Franc, is both named after France and controlled (not influenced, but controlled) by France. Their trade and industry are heavily dominated by the French, as is their foreign policy.

President Nana Akufo-Addo of Ghana So, given that coups entered into West Africa’s political life through the Francophone countries and that this current ill wind also has Francophone origins, we should start to ask ourselves some serious questions. As Ian Fleming (himself a former spy) said in his novel, Goldfinger: "Once is happenstance, twice is coincidence, the third time is enemy action." Is an external enemy of West Africa behind these ugly events? That is not too far-fetched. Senegal is one of the few West African countries that have never had a military coup, and we can learn a thing or two about why they have had such political stability. The Senegalese people are not docile, like Nigerians and many other West African people. They are willing to come out in large numbers and challenge the authority that acts with impunity, and this has meant that coups have not been necessary. For example, when President Abdoulaye Wade sought an unconstitutional third term in 2012, his action triggered nationwide protests, and he was booted out in the election that he thought he was going to win. So, the first thing that must happen is that the citizens of West African nations must be alive to their responsibilities and understand that rather than being afraid of their government, it is their government that should be afraid of them. And thankfully, #EndSARS shows that Nigerians are beginning to understand this principle. But it does not end there. Yes, outside forces may or may not play a role, however, coups are less likely to happen if the regional power, which

would be Nigeria, was providing good leadership for the sub-region. Sadly, under Muhammadu Buhari, Nigeria is a follower, not a leader. Ghana has shown more leadership over the last seven years. Muhammadu Buhari appears to be more preoccupied with regime security than with regional security. I will give you an example. When Major Fernando Pereira overthrew the government of President Fradique de Menezes of São Tomé and Príncipe coup d'état in 2003, then President Obasanjo did not sit down and fold his hands or tweedle his thumbs. He did not release statements. He took action. Decisive action. President Obasanjo used a carrot and stick approach. He called the coup leaders and threatened them. He followed up his threats by having Nigerian Airforce Jets fly over the São Tomé and Príncipe Presidential palace, in a show of force. Then he negotiated with the coup leaders to give them amnesty for their act of treason, along with some financial compensation. And like magic, Nigeria, under President Obasanjo, was able to restore a democratically elected government to power. The million dollar question is this: What decisive action has Buhari taken to show these latter-day coupists that Nigeria is the regional super power, and that she will not accept or tolerate a coup? Absolutely nothing. Releasing a statement and suspending coupists from ECOWAS is not decisive. What concerns a coup plotter with ECOWAS, when he is in full control of his home government and the treasury? The weakness and ineffectiveness of Buhari is one of the reasons, if not the most teleological reason, for the resurgence of coup in West Africa. And we are seeing the same thing on a global scale. Dictators, like Putin, Kim Jong-un, and Ebrahim Raisi, have sensed weakness in President Biden of America, and that weakness has emboldened them to bare their fangs and flex their muscles, and now, the world is again on the brink of a nuclear war, with Ukraine readying itself for a possible Russian invasion. So, weakness is itself an invitation to these sorts of things, whether regionally or globally, for as Ronald Reagan once said, the only way to get peace is a “peace through strength”. It is just like a dog. Dogs can smell fear and other negative emotions, because the body secretes hormones that signal what we are feeling. That is the reason why dogs attack some people in a given situation, and refrain from attacking others in exactly the same scenario. The dogs of coup have smelled weakness in Nigeria’s Buhari and they are biting. And biting hard. And we must remember that where there are coups, civil wars often follow just like a shadow. I am not sure anyone in Buhari’s circle is thinking

that far ahead. But it is a fact. It was the coups that took place in the Mano River region that led to the internecine civil wars in first, Liberia, then Sierra Leone. So, we have to guard against a resurgence of that in our sub-region. And I do not know how Nigeria can do that with an intellectually-challenged weakling at Aso Rock. Let us face the bitter truth, we are losing ground in West Africa to Ghana. It is the sad reality that we have found ourselves in and it is not just affecting us. It is affecting the wider sub-region. The first coups in West Africa started in Francophone countries (Togo on January 13, 1963, then Benin on October 28, 1963) and gradually spread to Anglophone nations that share a border with them (Nigeria on January 15, 1966, then Ghana on February 24, 1966). Thus, it will be a mistake for Nigeria and Ghana to watch as coups once again resurge in West Africa. Obviously, Buhari and his cabal are too dense to learn from history and prevent it from repeating itself. The focus of many cabal members is how to gather as much personal wealth as they can, then borrow in Nigeria’s name to develop Niger Republic. That is why the likes of Presidents Obasanjo and Jonathan have to step up and make sure that West Africa, through the ECOWAS, does not allow these coups to stand, otherwise they may just become too close for comfort. Let us remember that history does not repeat itself. Men repeat history by not learning from it. May Buhari not be the reason Nigeria repeats a negative history. Let us also not forget that this same Buhari is the reason why our Second Republic collapsed and we entered a phase of sixteen disastrous years of military rule that culminated in that blood-thirsty rogue named Abacha, under whom Buhari served. Like a bad penny that keeps on reappearing, this same ala akoba has reappeared on our political landscape, and now not only Nigeria, but West Africa is paying the price of Nigeria’s low quality leadership.

Reno’s Nuggets If you have $20,000 in the bank and a car costs $20,000, you may have enough money to buy the car, but you don’t have enough money to aﬀord the car. Anything that will cost all your money is something that you can’t aﬀord, because you need to live after that purchase. And this applies whether the product is an iPhone, an item of clothing, or whatever. The only thing that should empty your account is either a sure banker investment or a medical emergency. But to empty your account because of a consumer item makes you a producer of poverty! #RenosNuggets #FreeLeahSharibu

Alleged Plans by APC Leadership to Impose Consensus Arrangement Stalls Form Sales Adedayo Akinwale in Abuja The All Progressives Congress (APC), yesterday, failed to commence the sale of forms to all aspirants vying for national offices ahead of the party's national convention slated for February 26. It was gathered that the halt in the sale of forms that was supposed to commence yesterday was as a result of the plots by the Caretaker/ Extraordinary Convention Planning Committee (CECPC) of the party and some governors to come up with a consensus arrangement. A group under the aegis of APC Youth Development and Solidarity Forum (APC-YDSF) had while addressing a press conference on Sunday, alleged that it has uncovered plots by Governors Mohammed Badaru of Jigawa, Atiku Bagudu of Kebbi and Dr. Kayode Fayemi of Ekiti state to impose Senator Sani Musa as the next national

chairman of the party ahead of the February 26 convention. The schedule of activities released by the party and signed by the Secretary of the Caretaker Committee, Senator John Akpanudoedehe, had hinted that the purchase of forms would take place at the national secretariat of the party in Abuja. THISDAY checks revealed that the APC governors had initially scheduled a meeting on Sunday but it was later canceled, because their inability to reach a compromise on the zoning of party offices and the consensus arrangement. It was also gathered the governors and other stakeholders of the party were engaged in high-level negotiations to come up with a unity list or a consensus arrangement. The zoning of party offices, consensus arrangement and the unity list would be fine-tuned before the closing date for submission of forms.

The aspirants eyeing positions in the National Working Committee (NWC) at the Convention were turned back yesterday due to the inability of the ruling party to commence the sale for forms. A national chairmanship aspirant, Mallam Saliu Mustapha, while reacting to the party's inability to commence the sale of forms, told THISDAY that the aspirants still awaited the caretaker committee to present a roadmap for the convention. He said he believed that the governors and the Caretaker committee were strategising and trying to come up with the best option to ensure a rancour-free convention. Mustapha stated: "We await the Caretaker Committee to give us the roadmap. I hope they will be meeting and strategizing within the caretaker and the governors, who are looking at the best option for us so that we can have a rancour-free convention.

"For me, it's a work-in-progress and we will always give them all benefit of doubts to come out with the best option for us. I don't have any negative perception about whatever is happening. I believe we are all in this together and we all want the best for our party.” Another national chairmanship aspirant, Mr. Sunny Moniedafe expressed disappointment over the delay in the sale of forms and the graveyard silence over it by the party leadership. He, however, insisted that nothing would stop the convention from holding, but added that the delay in the sale of forms were not expected. "I have been on this issue for over 20 months now and in less than two weeks to the convention, we are still asking questions. We want to know what is happening. I have been in touch with the party headquarters since Thursday and even today Monday and

they keep telling me no news. The party should tell us what is happening. "No communication from the party. We have to be told of the zoning arrangement. Nothing is happening in less than two weeks to the convention. I don't think that is fair to us,"Monidafe stated. Campaign Director General of a frontline national chairmanship aspirant from the North Central, who preferred anonymity, expressed disappointment over the development, wondering whether the party was ready for the said national convention. Similarly, four National Youth Leader aspirants and one Zonal Organising Secretary from the South-east region personally visited the National Secretariat for the purchase of their forms but left disappointed, because they couldn't purchase the forms. A highly placed member of the party, who also pleaded

anonymity said the delay in the sale of forms was to enable the caretaker committee and the governors come up with a consensus arrangement that would be acceptable by all stakeholders and interest groups at the convention. Yet another party source revealed that the party was yet to print nomination forms, let alone agree on the cost for the forms and the mode of payment. "The truth is there is no form for sale. Nobody is talking about the printing of any form here. Under normal circumstances, the party would have advertised the sale of nomination forms, indicating the cost of each office before now or have you have seen such an advert? "We are all at a loss. Nobody but the caretaker committee members can tell you the position of things. All we know is that the National Convention must hold as scheduled."

LAWYER TUESDAY, FEBRUARY 15, 2022

UT H

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WEEKLY PULLOUT

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& RE A S O

PROFESSOR OLUYEMISI ADEFUNKE BAMGBOSE, SAN

NBAWF: Building a Solid Structure to Support Nigerian Female Lawyers

TUESDAY, FEBRUARY 15, 2022 • T H I S D AY

IN THIS EDITION

R E Y W A L 2 RUA RY 15, 202 TUE SDAY, FEB

YEMISI PROFESSOR OLU

LLOUT WEEKLY PU

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Jurisdiction Over Challenging Administrative Decisions of SEC and CBN

GBOSE, SAN ADEFUNKE BAM

Page IV

a Solid g n i d l i u B : F NBAW port p u S o t e r u t c u Str yers w a L e l a m e F Nigerian

‘Nigeria Needs Innovative Legal Solutions to Drive the Economy’, Agbakogba

QUOTABLE

Page V

‘We have millions of cases currently pending in various courts…. indicting the Nigeria Police of so many crimes, that you even wonder whether we need criminals anymore when we have the Nigeria Police.’ - Kunle Adegoke, SAN

Folake Etomi Takes Over as NIWIIT Lagos Coordinator, Promises Better Regulations Page V

LAWYER

ONIKEPO BRAITHWAITE: EDITOR, JUDE IGBANOI: DEPUTY EDITOR, PETER TAIWO, STEVE AYA: REPORTERS

III THE ADVOCATE

T H I S D AY • TUESDAY, FEBRUARY 15, 2022

2023 and Zoning’s Ecosystem

s 2023 election fever rises; and as redundant as the 1999 Constitution of the Federal Republic of Nigeria (as amended) (the Constitution) seems to have become, it is still our grundnorm and the main document that governs elections in Nigeria. See Section 1(1) & (3) thereof and AGF v Abubakar 2007 8 N.W.L.R. Part 1035 Page 117 at 144 on the supremacy of the Constitution. We must therefore, not lose sight of its provisions, especially with regard to election related issues like qualification to run for elective offices. Due to space constraints, I will limit this discussion to qualification for election to the office of President, which is principally provided for by Section 131 of the Constitution, as it is one election which seems to be of utmost interest to all. Sections 131 & 137 of the Constitution The four qualifications to be met for election into office of President, are listed in Section 131 of the Constitution thus: a) citizen of Nigeria by birth (see Section 25 of the Constitution); b) at least 35 years of age; c) membership of a political party and sponsorship of the candidate by that political party; and d) education up to at least School Certificate level or its equivalent (see Section 318 of the Constitution, that is, the Interpretation Clause for further clarification of this). Section 137(1) of the Constitution goes on to provide for those things that disqualify an individual for election to the office of President; inter alia, if such individual is adjudged to be a lunatic or of unsound mind under the law in any part of Nigeria; or an undischarged bankrupt; a member of a secret society; or has been convicted or sentenced for an offence involving dishonesty, less than 10 years before the date of the election (does this suffice?); or has presented a forged certificate to INEC - see the case of PDP, Senator Douye Diri, Senator Lawrence Ewhrudjakpo v Biobarakuma Devi-Eremienyo, Lyon DavidPereworimin, APC, INEC & Ors SC.1/2020 delivered on the 13th day of February, 2020 per Honourable Ejembi Eko, JSC. Extraneous Qualifications and Disqualifications However, as the debate about candidates for President in 2023 rages on, other extraneous qualifications and disqualifications which are not included in the Constitution, have been added on; and they do not seem to be as clear cut as the provisions of the aforementioned Sections 131 and 137. They include, but are not limited to: 1. Zoning First, is the zoning of the Presidency to alternate zones, that is, South/North North/South every eight years (after two terms have been served by one zone). Aside from the time when President Jonathan breached the agreement by running for election after he completed late President Yar'Adua's term, this gentleman’s agreement has been adhered to since the coming of the Fourth Republic. In fact, so important was the issue of zoning to Northern politicians when President Yar’Adua was sick, that many didn’t want Jonathan to be sworn in as Acting President. And when Yar’Adua died, some even suggested that since it was still the turn of the North to have the Presidency, Section 146(1) of the Constitution which provides inter alia that the Vice President ‘shall’ (mandatory) hold the office of President should the position become vacant by reason of death, should be by-passed, so that a Northerner could take over, instead of then Vice President Jonathan from the South South zone assuming the Presidency; and certainly, a Northerner should run for office come 2011 (in accordance with the zoning agreement). Today, some of those same politicians are happy to dump the zoning agreement, keep the Presidency in the North instead of it going to the South, having had two terms of a President from the Northwest zone. I have heard the argument that Nigeria needs rescuing, and what is most important is the individual with the capacity to do so, and not which zone he/she comes from. My response? There are individuals from all the various Nigerian zones, who are extremely capable of undertaking Nigeria’s rescue mission. In 1999, at the inception of the Fourth Republic, the Presidency was micro-zoned to the Southwest, to compensate for the injustice done to late Chief M.K.O. Abiola GCFR who was prevented from assuming his mandate after winning the June 12, 1992 election; today, many hopefuls from the North are trying to conveniently limit the zoning agreement to this particular incident, denying the fact that it certainly goes beyond it. But, then again, many from the North argue that not only did President Jonathan take their slot in 2011, he ran again in 2015, further breaching the zoning agreement - that what is good for the goose, is also good for the gander Certainly, if zoning had been expressly provided for in the Constitution, President Jonathan would not have been able to run for office in 2011, nor would we be having this pre-2023 debate now.

ONIKEPO BRAITHWAITE onikepo.braithwaite@thisdaylive.com onikepob@yahoo.com Twitter: @TheAdvocate

The

Advocate “What do you think about this issue of zoning, my dear Readers? Should it be formalised and included in the Constitution, in order to end this perennial debate and quarrel about zoning every election season? If so, should it also be extended to Gubernatorial, Legislature and intraState elections…..Or does the concept of zoning defeat the essence of constitutional democracy…..?” Zoning is not expressly provided for in the Constitution. But, still, can this zoning arrangement be implied from the Constitution, which in its preamble states inter alia that, “…...promoting good government and welfare of all persons in our country, on the principles of freedom, equality and justice, and for the purpose of consolidating the unity of our people:…"? The answer is, Possibly. A community reading of the Preamble, Sections 14(3) & (4), 15(1), (2) & (4), and 42 of the Constitution, indicates that these provisions desire equality, equal opportunity, equity, happiness, inclusion and justice for all Nigerians. A pertinent question then to ask at this juncture, is whether this laudable goal of unity, equality and equity can be achieved, if the Presidency of the country is concentrated in only one umbrella zone of the country (the North and the South being the two umbrella zones)? I think the answer is obvious - No. The next question is, should this zoning system be replicated within the smaller subdivisions under the two large umbrella zones, on the same principles of equity, fairness, and even minority rights? That is, each time the Presidency returns to a zone, it shouldn’t return to the sub-division that held it last, but should go to the next one, turn by turn; that is, should it be micro-zoned from one sub-division to the other? Or beyond zoning to the umbrella zones of North or South, should it be elements like freedom of association and choice (Sections 38(1) & 40 of the Constitution) that come into play, in the spirit of democracy? Zoning the Presidency specifically to the Southwest in 1999, shows that not only is it possible to zone, but to micro-zone. Can every nation not adopt or develop their own home grown brand of democracy, which has the basic tenets of democracy, but also its own peculiarities as well? What do you think about this issue of zoning, my dear Readers? Should it be formalised and included

in the Constitution, in order to end this perennial debate and quarrel about zoning every election season? If so, should it also be extended to Gubernatorial, Legislature and intra-State elections? Some have even argued that not only should there be zoning and micro-zoning, the Presidency should be reduced to one five year term, to allow it to go round the different zones quicker. Or does the concept of zoning defeat the essence of constitutional democracy, and from here on out, should it be jettisoned for ‘may the best man win’ instead? 2. Religion Lately, we have been hearing Christian/ Muslim ticket and Muslim/ Christian ticket; but, no Muslim/Muslim ticket or Christian/Christian ticket. Again, can the issue of ‘religious zoning’ be implied from the Constitution? The answer to this question as far as I am concerned, is No, since we must take a cue from Section 10 of the Constitution, which prohibits the Federal or State Government from adopting any State religion. The Latin maxim “Expressio unius est exclusio alterius” comes to mind; that is, the rule that the inclusion of the one, is the exclusion of the other. In one of the few constitutional provisions that mentions religion, the secularity of Nigeria and its States, has been clearly stated in Section 10 thereof. What then, is this creation of politicians, about election tickets based on religion? It is unconstitutional, since Section 10 is clear that religion should not be brought into matters of State. Again, the same way the Southeast say they have not yet produced a President, is the same way it can be argued that the Southern Muslims have not produced a President, nor have the Northern Christians. I have heard countless arguments of how the South must produce only a Christian candidate, because the North must have a Muslim candidate on the ticket. Since the

time of General Yakubu Gowon who was a military Head of State, the North has not produced a Christian Presidential candidate, while the only Southern Muslim produced, Chief Abiola, who incidentally had a Northern Muslim as his running mate, was prevented from assuming office. It is obvious that, what this country needs presently, especially with the mess that we find ourselves in by making the huge mistake of letting religion creep into governance, is leaders that are not particularly ‘religious’, whether Christian or Muslim. Is it not better to have two non-religious Muslims or Christians on a ticket, than distribute the ticket between two Muslim/Christian fanatics, just to have a religious spread? Throughout the military era, in which we had mostly Northern Muslim rulers, religion was not the issue it has become today. It seems to me that politicians/so-called thought leaders are utilising religion as an excuse; a means to push forward their own favoured candidates, while trying to exclude others! 3. Gender Where do these extraneous considerations, which seem to cause more confusion than bring clarity into the electoral process end? Nigeria has never produced a female President, Vice President or elected Governor. And even though Section 42 of the Constitution prohibits discrimination on the basis of sex, women are not considered or taken seriously for these positions. If zoning is included in the Constitution, should gender affirmative action not also be made a part of the grundnorm? 4. Age, Physical & Mental Fitness This issue of age, physical and mental fitness, has also been raised in many conversations. Section 131 of the Constitution does not set an upper limit as far as age is concerned, only an entry point of age 35 for the office of President; nor can one predict how the health of an individual will turn out to be. We only assume that, a younger person is healthier than an older person. Late President Umaru Yar’Adua was relatively young when he assumed the Presidency, as he was a few months shy of his 56th birthday when he assumed office on May 29, 2007. But, there was already a rumour that he had passed on even before he was sworn in, so much so that a telephone recording in which he confirmed that he was still alive to then President, Olusegun Obasanjo, went viral! If my memory serves me right, the conversation went something like this: President Obasanjo: “Umaru, Umaru, are you dead?” Umaru Yar’Adua: “No, Sir!”. Similarly, Section 137(1)(c) of the Constitution only disqualifies an adjudged lunatic or individual of unsound mind. However, there are many stages of mental unwellness, between lucidity and lunacy, which can certainly inhibit an individual’s capacity/ performance; but, they are not considered in the Constitution, like Depression, Paranoia, Bipolar Affective Disorder, Narcissistic Personality Disorder, Alzheimer’s etc. Should it be made mandatory, that those vying for the office of President and Vice should undergo some form of mental and physical fitness for duty testing, and they must be of a certain physical and mental fitness, properly certified by a body of independent medical experts? This discussion also arose in the US during President Donald Trump’s tenure, when he frequently showed signs of a narcissistic personality and mental decline, and people became worried that he was too volatile to hold the codes that launched the nuclear weapons! 5. History of Performance and Corruption Is it necessary that, whether in other governance positions or the private sector, the history of the candidate’s performance in previous roles should be a factor in qualification for office? Some say it should be. Conclusion This discourse leaves me with more questions, than answers. Nevertheless, there are certain conclusions that I can categorically draw from it: 1) it is time that religion is downplayed, ignored and excluded from public matters; 2) there should be affirmative action/legislation to include women in higher political office and governance. Enough of tokenism, as far as the female gender is concerned; 3) the state of the mental and physical health of key office holders like the President, Governors and their deputies should be known; 4) it is not the exclusive preserve of any particular zone to have the Presidency of Nigeria; every zone has capable hands to lead this country.

IV LAW REPORT

TUESDAY, FEBRUARY 15, 2022 • T H I S D AY

Jurisdiction Over Challenging Administrative Decisions of SEC and CBN Facts The Appellant was registered solely for the importation, sale and distribution of petroleum products and cooking gas. Between the year 2004 and 2005, it entered into an agreement with the first to fourteenth Respondents, and many others, by way of “Memorandum of Understanding for Joint Venture (J.V.) Supplies of Industrial Fuels”. The parties, who were referred to as Joint Venture Partners (J.V. Partners), were to invest N450,000 per slot, with a promise of a monthly N40,000 return on investment on each slot. In May 2007, after the Respondents had invested in the JV, the Securities and Exchange Commission (SEC) published a Public Notice titled “Illegal Investment Scheme operated by Nospecto Oil & Gas Ltd”, and using its position as the apex regulatory body in the capital market, it stopped the business activities of the company and ensured that the Appellant’s accounts in all commercial banks were frozen. Since the directive of SEC in 2007, the billions of Naira invested by the JV Partners remained in the custody of the Central Bank of Nigeria (CBN). After several efforts at retrieving their investments from the 15th and 16th Respondents (SEC and CBN) proved abortive, the 1st to 14th Respondents filed an application at the Investment and Securities Tribunal, Suit No. OA/17/07, claiming inter alia, a Declaration that they are entitled to know the amount frozen from the Appellant’s account, and that the refusal to release the salvaged funds to them on demand is unlawful, and contrary to the statutory duty of the SEC. The Appellant, as the 3rd Respondent at the Tribunal, filed its processes, including a Notice of Preliminary Objection, wherein it urged the Tribunal to dismiss/ strike out the suit, on the grounds inter-alia, that the 1st to 14th Respondent lacked locus standi to institute the suit; the suit was an abuse of court process; and that there was no compliance with conditions precedent to activate the jurisdiction of the Tribunal to adjudicate on the matter. In its ruling on the Objection, the Tribunal relied on its earlier decision in Case No. IST/OA19/07 between NOSPECTO v SEC wherein it held that the Tribunal had jurisdiction to entertain the suit, given that the nature of the transaction carried out by the Appellant and the JV Partners is a Collective Investment Scheme, which comes within the ambit of Section 284(1)(f) of the Investment and Securities Act (ISA) 2007. Displeased with the ruling above, the Appellant appealed to the Court of Appeal. One of the issues posed for determination of that court was whether Exhibit A, the document attached to the Originating Application, established a Collective Investment Scheme/ Agreement as contemplated by the provisions of the ISA, 2007. The Court of Appeal resolved this issue against the Appellant. However, regarding the issue of jurisdiction of the Tribunal to entertain the issues as framed before it, the appellate court found that since the principal claims were against SEC and CBN, the Tribunal had no jurisdiction to determine them. Though the appeal was allowed, the Appellant was still dissatisfied with part of the decision wherein the appellate court held that Exhibit A, attached to the Originating Application established a Collective Investment Scheme in line with the provisions of the ISA. Hence, the Appellant further appealed to the Supreme Court. The 1st to 14th Respondent, who split themselves into two, filed two separate Cross-Appeals. Issues for determination The Supreme Court considered the following issues in its resolution of the appeal: Main Appeal 1. Whether Exhibit A is conclusive and valid evidence to deduce that a Collective Investment Scheme existed between the Appellant and the 1st to 14th Respondent. First and Second Cross-Appeal 2. Whether the principal claims of the Cross-Appellants against SEC and CBN falls outside the jurisdiction of the Investment and Securities Tribunal. Arguments Main Appeal The Appellant’s contention is that Exhibit A is not conclusive and valid evidence to deduce that the relationship that existed between it and the Respondents

(Pt. 103), in support of this position. Responding to the submissions above, the 1st Cross-Respondent argued that the Cross-Appellants’ suit principally seeks declarative and injunctive reliefs against the 6th and 7th Cross-Respondents who are Federal Government Agencies. Counsel argued further that the said action/reliefs (as it relates to the invested money in the frozen accounts) as instituted/ sought by the Cross-Appellants, is tantamount to the validity of the executive or administrative actions/ decisions of the said Cross-Respondents in respect of its business operations and accounts. Reliance was placed on A-G BAUCHI STATE v A-G FED (2018) 4 SC (Pt. 1) 14. Court’s Judgement and Rationale Deciding the issue in the main appeal, the Supreme Court referred to the earlier decision of the Tribunal in Case No. IST/OA/19/07, NOSPECTO v SEC, wherein the Tribunal held that the nature of the transaction resulting in the suit, is a Collective Investment Scheme. The decision of the Tribunal in that case, which was earlier in time to the present case, has not been appealed against. It remains valid until it is set aside – AKINYEMI v SOYANWO (supra). The Appellant had agreed in the referenced case, that it entered into Agreements with thousands of people in respect of the scheme; yet, it questioned Exhibit A, which embodies the same terms and conditions as the Agreements in the previous case, on the ground that the Respondents are not privy to it. The Supreme Court held that privity of contract is the relation between the Parties in a contract, which entitles them to sue each other, but it prevents a third party from doing so. Thus, the doctrine of privity of contract is all about the sanctity of contract between the parties to it, and it does not extend to others from outside - UBA Plc v JARGABA (2007) 11 NWLR (Pt. 1045) 247 SC. Applying this principle, the court found that no one was sued for breach of contract, neither did any of the claims of the Respondents relate to breach of contract. Thus, the doctrine of privity of contract was not helpful to the Appellant in this case. Further, the Supreme Court held that the Court of Appeal was right in its deduction that, Exhibit A is a “sample” of the Agreement that parties entered into. The concurrent findings made by the lower court and the Tribunal that the said transaction is a Collective Investment Scheme, cannot be faulted.

Honourable Mohammed Lawal Garba, JSC

In the Supreme Court of Nigeria Holden at Abuja On Friday, the 11th day of June, 2021 Before Their Lordships Amina Adamu Augie Uwani Musa Abba Aji Mohammed Lawal Garba Samuel Chukwudumebi Oseji Emmanuel Akomaye Agim Justices, Supreme Court SC.305/2012 Between Nospetco Oil and Gas Ltd

Appellant And

Prince Matiluko Emmanuel Olorunnimbe & 15 Ors.

Respondents

(Lead Judgement delivered by Honourable Mohammed Lawal Garba, JSC)

is that of a Collective Investment Scheme as contemplated under the Investment and Securities Act, and as such, the Tribunal cannot exercise jurisdiction to determine the suit. It argued that the relationship between parties was contractual; hence, it was the State High Court that had jurisdiction to deal with suit, relying on Sections 13, 38, 54, 152- 196 and 284(1)(f) of the Investment and Securities Act. It contended further that Exhibit A, a written agreement (which was only between it and Mrs. S.A Umar) is the basis of the Respondent’s cause of action, and that following the doctrine of privity of contract, the Respondents, who were not parties or signatories to the said Exhibit, had no locus to file the suit at the Tribunal. It relied on A-G FED v A.I.C. LTD (2000) 4 WRN 96 at 103; (2000) 10 NWRL (Pt. 675) 293 at 311. In reaction, the Respondents argued that Exhibit A must be read together with all the paragraphs of the pleadings. It was also their position that the Appellant failed to appreciate that their cause of action, arose out of the continuous refusal of the 15th (SEC) and 16th (CBN) Respondents to release

“By Section 251(1)(r) of the 1999 Constitution (as amended), the Federal High Court shall have exclusive jurisdiction over any action or proceedings for a Declaration or Injunction, affecting the validity of any executive or administrative action or decision by the Federal Government or any of its agencies”

funds salvaged from Appellant to them. It was also their position that the subsisting judgements, rulings and/or order of a court remains valid and subsisting until same is set aside - AKINYEMI v SOYANWO (2006) 13 NWLR (Pt. 998) 496. To this end, they argued that the nature of business existing between the Appellant and the 1st to 14th Respondent was the Collective Investment Scheme as contemplated under the provisions of the ISA. On the submission on their locus standi, they responded that Exhibit A, which was in Mrs. Umar’s name, buttresses the fact that the action instituted at the Tribunal was done in a representative capacity, contrary to the position of the Appellant, and that Exhibit A was a mere sample to show the wordings that established the Scheme. First and Second Cross-Appeal The Cross-Appellant’s contention was that the validity of the executive or administrative actions/ decisions of the 6th (SEC) and 7th (CBN) CrossRespondents is not being challenged, so as to make their claims fall within the jurisdiction of the Federal High Court. They contended that their claim is primarily, against the freezing of their (Cross-Appellants’) accounts. They argued further that there is an exception to the exclusive jurisdiction given to the Federal High Court by the proviso in Section 251(1)(r) of the 1999 Constitution, and that regardless of claims instituted against the Federal Government and its agencies in related subject-matter, there is no overall provision that confers exclusive jurisdiction on the Federal High Court. They relied on BRONIK MOTORS v WEMA BANK LTD (1983) 1 SCNLR 296 and ADETAYO v ADEMOLA (2010) 35 SC

First and Second Cross-Appeal In its determination of the issue raised in the first and second Cross-appeal, the court held that there is a distinction between jurisdiction over “principal claims” and “ancillary claims”; and where it is found that the court has no jurisdiction to hear the “principal claims”, then it cannot have jurisdiction to entertain the “ancillary claims” - PDP v SYLVA (2012) 13 NWLR (Pt. 1316) 85. Though the Tribunal may have exclusive jurisdiction over disputes arising from the administration, management and operation of a Collective Investment Scheme, but the “principal claims” in the application that led to this appeal were directed at SEC and CBN, which are the Federal Government Agencies. By Section 251(1)(r) of the 1999 Constitution (as amended), the Federal High Court shall have exclusive jurisdiction over any action or proceedings for a Declaration or Injunction, affecting the validity of any executive or administrative action or decision by the Federal Government or any of its agencies. Relying on the provision above, the Supreme Court took a cursory look at the Cross-Appellants’ principal reliefs sought at the Tribunal clearly touched on the executive or administrative actions of SEC and CBN, thereby establishing the relief within the provisions of Section 251(1)(r) of the Constitution and outside the ambit of the jurisdiction of the IST as contemplated by the provision of the ISA. Main Appeal and Cross-Appeals Dismissed. Representation Mumini Bamidele, Esq. with Tinuke Julius Adegoke (Mrs.), Rilwan Idris, Esq. and Fatima Birmah, Esq. for the Appellant. Debola Adeleke, Esq. with Dr. Wada Bashir, Esq.; Ebuka Nwaeze, Esq.; and B.T. Akeredolu, Esq. for the First Set of Respondents/Cross Appellants Roland Otaru, SAN with Oluwatosin Emmanuel, Esq. for the Second Set of Respondents/Cross Appellants. 15th Respondent not represented. T.O.S Fadahunsi, Esq. with A.A. Abimbola, Esq. for the 16th Respondent. Reported by Optimum Publishers Limited, Publishers of the Nigerian Monthly Law Reports (NMLR)(An affiliate of Babalakin & Co.)

T H I S D AY • TUESDAY, FEBRUARY 15, 2022

NEWS

L-R: Mr Olakunle Oladipupo, Mrs Dele Bayo-Osibo, Mrs Monisola Timi- Zacchaeus, Mrs Folake Etomi, Mrs Elizabeth Adekunle, Miss Oluwadamilola Aremu and Ms Joyce Ugbosu

Dr Olisa Agbakogba, SAN

‘Nigeria Needs Innovative Legal Solutions to Drive the Economy’, Agbakogba Stories by Steve Aya The former President of the Nigerian Bar Association, Dr Olisa Agbakogba, SAN, has stated that Nigeria is facing enormous economic challenges and needs massive revenue to meet up with its existing obligation. Agbakogba SAN, stated this in a Media chat with a select group of Journalists in his office last Tuesday.

He said that Nigeria can be best described as a man who makes N100,000 per month, but borrows N5 million every month to pay for the electricity bill, and running of the house. The senior Lawyer further stated that, "the situation is scary giving the fact that the excess crude oil account, which is like our savings, is almost empty". "As we go into another election season, it is important

LASG Commences Town Hall Community Engagements on Sexual and Gender Based Violence In a bid to address the rising cases of domestic and sexual violence in Lagos State, the Domestic and Sexual Violence Agency, (DSVA) on Tuesday held its maiden Town Hall Local Government meeting tagged ‘Its on Us to End Sexual and Gender Based Violence’ at Surulere Local Government as well as Coker Aguda, and Itire Ikate LCDA. The meeting had in attendance over 300 stakeholders drawn from Community Development Councils, Community Development Authorities, Market men and women, religious leaders, community leaders, artisans, captains of industry, as well as other relevant stakeholders. According to the Executive Secretary of DSVA, Mrs. Titilola Vivour-Adeniyi, the concept of the Town Hall meeting is to decentralise services and ensure that residents of the State, irrespective of their location, be it in the inner cities, urban and rural areas are aware of the existence of the relevant laws as well as the support services available to them; these according to her include medical, social services and partner NGOs in their communities. She added that the purpose of the community outreach, is to solidify its partnership with Local Governments as well as creation of a community response

teams who would serve as first responders, thereby opening up the referral pathway for survivors desirous of accessing justice. Vivour-Adeniyi added that, this year, DSVA is more committed to ensuring that the present administration of Governor Babajide Sanwo Olu’s zero tolerance declaration to all forms of Domestic and Sexual Violence, is attained. On his own part, the Executive Chairman of Surulere Local Government who was represented by the Vice Chairman, Hon. Dosunmu Adewale assured participants of the Local Government’s zeal and desire in ensuring all relevant stakeholders collaborate and rid out the menace of Sexual and Gender Based Violence (SGBV) out of the State. The Executive Chairman of Coker Aguda Local Council Development Area, Hon. Ibrahim Rasaq Lekan, also reiterated the same. Dr. Veronica Iwayemi of the Primary Health Care Board, as well as DSP Abimbola Williams of the Lagos State Police Command, enlightened participants on issues related to SGBV and informed them of community resources available at their disposal. The Town Hall meeting is to be held in all the LGAs as well as LCDAs, across the State.

to engage Politicians putting themselves forward for elections, on how they intend to resolve Nigeria's economic and revenue crisis." The Learned Silk then stated that his law firm, Olisa Agbakogba Legal, OAL, has developed a legal proposal that can generate a huge amount of income.

He further maintained that our trade policy and legislation are very weak, stating that with the right laws in place, the country will not be a dumping place for substandard good and services, the nation can generate well over N1trillion . Other areas where Nigeria can make good money from

with the right laws in place include Aviation, Maritime, Financial Services, Fintech, Space, Digital Economic/Ecommerce, Entertainment, Hydrocarbons, Solid Minerals, Agriculture, Land Administration/Housing, Inefficient Revenue Collection and Monies Trapped in Ministries, Department and

Agencies. Answering questions, Agbakogba SAN, maintained that "Nigeria is not a poor country, Looking at all these areas and with out any serious study, it shows that we are almost at the N1 trillion mark, and with concerted deep study, it is possible to even exceed the trillion mark".

Two NSCDC Officials Arraigned for Armed Robbery An Ikeja High Court on Wednesday remanded Amarachukwu Asonta, a 27-year-old female Officer of the Nigeria Security and Civil Defence Corps (NSCDC), and her colleague, Adebayo Ajayi, 32, were on Wednesday remanded in prison after they were arraigned over alleged armed robbery. Justice Oyindamola Ogala, of an Ikeja High Court gave the order after the duo had pleaded not guilty to a twocount charge of conspiracy and armed robbery levelled against them. The charges were proffered

against the duo, by the Lagos State Directorate of Public Prosecutions (DPP). According the Director of the Lagos State DPP, Dr Jide Martins, the NSCDC officers committed the offences at 2.20am on January 30, 2018 along Yaya Abatan Road, Ogba, Lagos. "The Defendants and others who are now at large, while armed with guns and other offensive weapons, highjacked an Iveco Container Truck with Registration No. LSR746XD. "The truck contained 1,700 cartons of Chelsea and Ac-

tion Bitters drinks valued at N2.7million, way bills, mobile phones and an unspecified amount of cash", the DPP said. Following the arraignment of the NSCDC Officers, the DPP requested that the Defendants should be remanded at the Correctional Centre. "My lord, the matter has been since 2018. The Defendants are Officers of the NSCDC. They have been evading the court, and the court issued a bench warrant for their arrest. "The first Defendant (Asonta) had to be arrested

with the aid of the NSCDC", Martins said. The offences contravene Sections 297(2)(b) and 299 of the Criminal Law of Lagos State 2015. Following the submission of the DPP, the defence counsel, Mr Dapo Daramola, informed the court that he had filed an application for the bail of the Defendants. Justice Oyindamola Ogala ordered the remand of the Defendants at the Correctional Centre, and adjourned the case until February 23 for the hearing of the bail application.

Folake Etomi Takes Over as NIWIIT Lagos Coordinator, Promises Better Regulations The new Executive of Nigeria Women in Information Technology (NIWIIT) Lagos State Chapter, last Thursday took the oath of office with Mrs Folake Etomi, serving as the new Lagos State Coordinator. Other new executive members include Edna Adeyemi, General Secretary; Joyce Ugbosu, PRO; Elizabeth Adekunle, Welfare Officer and Oluwadamilola Aremu as Special Duties Officer. In her speech, the outgoing Coordinator, Mrs Monisola Timi-Zacchaeus, encouraged the new execu-

tive to build on the activities of their predecessors. She acknowledged that there was still a lot of work to be done, and cited membership drive as one of the areas that requires attention. In her speech, the new Lagos State Coordinator Mrs Folake Etomi, thanked God for the opportunity to serve the Association, adding that both she and members of her new executive take seriously this new assignment which speaks volumes of the confidence members of the Association have in them. She pointed out that

information technology has taken over man's life, and has become the vehicle in which the economy of nations develop. She further added that she would work hard to make sure that information technology laws in Lagos State are similar to what is obtained internationally so that Lagos and Nigeria can tap from the enormous benefits in ICT. The national President of NIWIIT, Mrs Dele BayoOsibo, who inaugurated the new executives for the Lagos state chapter stated that the state chapters are

pivotal to what we do as NIWIIT, and impact has to be achieved at the state level. The event was witnessed by the Coordinator of NCS (Nigeria Computer Society), Lagos State Chapter, and other senior members of both NCS and NIWIIT. The event was a hybrid, as some exco members took their oath of office virtually. NIWIIT is the umbrella body for women actively involved in the information technology (IT) industry. It is an interest group of the Nigerian Computer Society (NCS).

#upjudicialsalaries "We therefore call upon the Federal and State Government, to live up to their obligations under the law. I also implore the Government of the Federation and the States, to urgently review the salaries and allowances of judicial officers and staff. The salaries of Justices are static, with no graduation, as in the Civil and Public Service. We have been on one salary scale, for over 10 years now.” -Honourable Justice Monica Dongban-Mensem, President, Court of Appeal, Federal Republic of Nigeria

TUESDAY, FEBRUARY 15, 2022 • T H I S D AY

INSIGHT ABUBAKAR D. SANI

XL4sure@yahoo.com

08034533892

Can ACJA/ACJL Regulate Practice and Procedure?

he public relief which greeted the enactment by the National Assembly of the Administration of Criminal Justice Act 2015, was only tempered by its limited scope in terms of courts: it is only enforceable in Federal courts as listed in the Constitution. Even though the Act has since been replicated in at least 30 States across the country, I believe that a more fundamental concern is that, to the extent both laws purport to regulate the practice and procedure of courts in criminal trials, they might be unconstitutional. This is because, as I shall presently endeavour to show, both the National Assembly and State Houses of Assembly are incompetent, under the Constitution, to enact such adjectival legislation, because the same Constitution has specifically conferred that power on the heads of courts. Before going into my reasons for holding this view, first, an . . . Overview The National Assembly derives its authority to enact adjectival statutes from Item 68 of the Exclusive Legislative List of the Constitution, read along with Paragraph 2(b) of Part III of the 2nd Schedule thereto. Whilst the first empowers the Assembly to make laws on anything that is incidental or supplemental to any of the 67-odd substantive subject- matters in the Exclusive Legislative List, the second defines such incidental or supplementary matters to include “the practice and procedure of courts of law”. As for State Houses of Assembly, the Constitution confers no comparative rule-making power on them; that function being reserved exclusively for the heads of State Courts, subject, however, to laws made by their Legislatures. More on this shortly. For now, a pertinent question is: what is practice and procedure? Meaning of Practice and Procedure According to the online source https:// legal-dictionary.thefreedictionary.com, “Rules of practice (are) certain orders made by the courts for the purpose of regulating the practice of members of the bar and others.” Another source, https://www.lexico.com defines ‘Practice’ simpliciter, as inter alia, “an established method of legal procedure”, and, “the customary habitual or expected procedure or way of doing something”. As to the difference between ‘practice’ and ‘procedure’, it appears that it depends on the particular variant of either term employed in any given case. As a noun, the online source http://wikidiff. com states that ‘practice’ means, inter alia, “the form, manner, and order of conducting and carrying on suits and prosecutions through their various stages, according to the principles of law and the rules laid down by the courts”. The same source describes the noun variant of ‘procedure’ as, inter alia, “the steps taken in an action or other legal proceeding”. It is obvious that it is the noun variants (as opposed to the verb forms) of both terms, that are applicable in the context in which they are used in the Constitution. Unfortunately, that document does not define either term – neither does the Interpretation Act. Accordingly, their ordinary grammatical meanings referenced above will have to suffice. Judicial Power Over Practice and Procedure The 1999 Constitution has specifically conferred the power to enact rules of practice and procedure, on the heads of both Federal and State courts. Examples of it’s provisions in this regard include: - Section 236 (the Supreme Court; by the Chief Justice of Nigeria, subject to an Act of the National Assembly);

- Section 248 (the Court of Appeal; by the President of that Court, subject to an Act of the National Assembly); - Section 254 (the Federal High Court; by the Chief Judge of that court, subject to an Act of the National Assembly); - Section 254F (the National Industrial Court; by the President of that court, subject to an Act of the National Assembly); - Section 259 (the High Court of the Federal Capital Territory; by the Chief Judge of that Court, subject to an Act of the National Assembly); - Section 264 (the Sharia Court of Appeal of the Federal Capital Territory; by the Grand Kadi of that Court, subject to an Act of the National Assembly); - Section 269 (the Customary Court of Appeal of the Federal Capital Territory; made by the President of that court, subject to an Act of the National Assembly); - Sections 274, 279 and 284 (the High Courts, Sharia and Customary Courts of Appeal of a State; by the Chief Judge, Grand Kadi and President of those courts, respectively, subject to laws made by the State Houses of Assembly). Purport of ACJA There is no better place to find this than Section 2(1) thereof, which provides that “Without prejudice to Section 86 of this Act, the provisions of this Act shall apply to criminal trials for offences established by an Act of the National Assembly and other offences punishable in the Federal Capital Territory, Abuja”. What of the Various ACJLs in the States? As previously noted, at least 30 State Houses of Assembly have enacted similar laws dealing with practice and procedure

“….those laws fare even worse than ACJA, in terms of their constitutional validity. This is because, unlike the latter, there is no identical or even similar constitutional provision which authorises State Houses of Assembly to enact rules of practice and procedure directly…that power is reserved by the Constitution exclusively for the heads of State courts….”

in criminal matters, within their respective jurisdictions. I believe that those laws fare even worse than ACJA, in terms of their constitutional validity. This is because, unlike the latter, there is no identical or even similar constitutional provision which authorises State Houses of Assembly to enact rules of practice and procedure directly. On the contrary, that power is reserved by the Constitution exclusively for the heads of State courts, such as State High Courts, State Customary Courts of Appeal and State Sharia Courts of Appeal, as aforesaid. It is clear that, to the extent that State Houses of Assembly enacted those laws, they have usurped the constitutional functions of the heads of State courts; accordingly, those laws are ultra vires and invalid. The case of ACJA appears to be more nuanced. Suffice it to say that, at the risk of over-generalisation, it appears that those provisions of the Act which deal with practice and procedure as defined above, ought to have been enacted by the heads of the relevant Federal courts, and not directly by the National Assembly, as is the case. My belief is anchored on the latin maxim ‘specialibus generalia derogant’ or special things derogate from general things. As applied in legislative and constitutional interpretation, this means that: “where a special provision is made to govern a particular subject-matter, it is excluded from the operation of any general provision”: ATTORNEY-GENERAL OF THE FEDERATION v ABUBAKAR (2007) All FWLR pt. 375 pg. 405 @ 524, SC: GOVERNMENT OF KADUNA STATE v KAGOMA (1982) 6 S.C.87 @ 107. In the specific context of the powers of the National Assembly to regulate practice and procedure of courts of law, while I concede that these appear to be conferred by a combined reading of Item 68 of the Exclusive Legislative List and Paragraph 2(b) of Part III of the 2nd Schedule to the Constitution, however, I hasten to add that these are general provisions which only deal with any matter that is incidental or supplementary to any of the 67 substantive items in the Exclusive Legislative List. In other words, they lack any life of their own, but are only activated by the enactment of a law on any of the 67 preceding substantive items on the Exclusive List. By contrast, the Constitution specifically confers on the heads of the Supreme Court, the Court of Appeal, the Federal High Court,

the National Industrial Court, the Sharia Court Appeal of the FCT, the Customary Court of Appeal of the FCT and the High Court of the FCT, the power and the right to enact rules of practice and procedure applicable in both civil and criminal trials in those courts. I believe the only logical inference from this, is that the makers of the Constitution intended to confer that function exclusively on the heads of those courts. I submit that to construe those provisions otherwise, would be to suggest that the Constitution gave that right to the heads of the aforesaid courts with one hand, and took it away with the other, that is, Item 68 and Paragraph 2(b) of Part III of its 2nd Schedule as aforesaid. It is trite law that no Constitution-maker will be presumed to have done that: OSADEBAY v ATT-GEN. of BENDEL STATE (1991) 1 NWLR pt. 169 pg. 525 S.C.; ATT-GEN. of THE FED. v ABUBAKAR, supra @ pg 472; S.C. Conclusion Neither the National nor State Houses of Assembly are courts of law; no Legislature is. Their role is constitutionally-restricted to law-making, whilst that of the courts is to interpret those laws. Even though this separation is not water-tight, under a Federal Constitution - in the absence of an explicit and unambiguous mandate - it has never extended to the Legislature enacting rules guiding the practice and procedure of courts. That tradition is maintained by the 1999 Constitution, which denies that power completely to State Houses of Assembly; rather, it confers it on the heads of State courts - albeit subject to laws made those Assemblies. In the case of the National Assembly, the Constitution confines the adjectival law-making power of the National Assembly to those things which are merely incidental or supplementary to its powers to enact laws on specific matters, as specified in the Exclusive Legislative List of the Constitution. In other words, that power is not self-executing. ACJA is a radical departure from this tradition. While admittedly not all it’s provisions are adjectival in purport, the vast majority of ACJA’s prescriptions pertain to practice and procedure of the courts in criminal trials. To the extent that the National Assembly purports to usurp the functions which the Constitution specifically confers on the heads of Federal courts in that regard, I believe a plausible case can be made for invalidating it’s affected provisions. The alternative is to reduce the rule-making provisions of heads of Federal courts in the Constitution, to mere dead letters.

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T H I S D AY • TUESDAY, FEBRUARY 15, 2022

IMAGES

n Saturday, February 5, 2022, a Career Biography of the 2nd Female Chief Registrar in the history of the Supreme Court of Nigeria, Hadizatu Uwani Mustapha titled, “Hadiza U. Mustapha: From Head Girl to Supreme Court” was unveiled at the Executive Hall, International Conference Centre, Abuja. Here are some of the personalities who attended the event… PHOTOS: ENOCK REUBEN Hajiya Hadizatu Uwani Mustapha, former Chief Registrar, Supreme Court of Nigeria whose career biography in form of the book, ‘Hadizatu U. Mustapha: From Head Girl to Supreme Court’ was unveiled

L-R: Chief Unveiler of the Book, Former Governor of Borno State, Senator Kashim Shettima; Hadizatu Mustapha; Her Husband, Alhaji Ibrahim Abubakar Kiru; and Deputy Governor of Borno State, Umar Usman

Editor of This Day Lawyer, Mrs Onikepo Braithwaite and Ekiti State Attorney-General and Commissioner for Justice, Mr Olawale Fapohunda, SAN

His Excellency, Deputy Governor of Borno State, Umar Usman

Senator Kashim Shettima (left) and Ambassador Haruna Wando

Former SSA Media to the former CJN, Hon. Justice Onnoghen, Mr Awassam Bassey (left) and Chief Joe Agi, SAN CEO of Havilah Group, Publisher of the Book, Mr Olanrewaju Adesuyi

Book Reviewer, Lawyer and Wife of the Governor of Kaduna State, Mrs Asia Ahmad El Rufai

Justices of the Supreme Court, Hon. Justice Uwani Abba Aji (left) and Hon. Justice Tijjani Abubakar L-R: Dr Salma Ibrahim Anas, Senator Kashim Shettima and Dr Asabe Vilita Bashir

L-R: Hajiyas Lubabatu Abdulkarim, Hadizatu Uwani Mustapha and Maryam Mohammed Ali Ndume

Hadizatu Mustapha with her Secondary School Classmates

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COVER

Professor Oluyemisi Adefunke Bamgbose, SAN

NBAWF: Building a Solid Structure to Support Nigerian Female Lawyers The Inner Bar is peopled with a negligible number of female Lawyers, and even fewer from the Academic category. As a matter of fact, Professor Oluyemisi Adefunke Bamgbose, SAN has the rare privilege of being the very first female Academic to be conferred with the exalted rank of Senior Advocate of Nigeria in 2018. In addition to her many accolades, the NBA called on her to take up the herculean task of reviving the erstwhile moribund Nigerian Bar Association Women’s Forum (NBAWF), a task she has been handling with stoical diligence. Onikepo Braithwaite and Jude Igbanoi engaged Professor Bamgbose not just on the resuscitation of the NBAWF, the journey so far and the lasting legacies being built, but on some critical professional and academic issues

ou were given an important duty by the Nigerian Bar Association (NBA), that is, the responsibility of coordinating the affairs and activities of all female Lawyers in Nigeria as Chairperson of the Women’s Forum of the NBA. What does this role entail? How has the journey been so far? What challenges have you had to face? How have you been able to surmount them? On September 7, 2019, I received a letter from the Immediate Past President of the NBA, Mr Paul Usoro, SAN, where he constituted the Executive Committee and the Council members of the NBA Women’s Forum (NBAWF). On September 17, the Executive Committee of the NBAWF was formally inaugurated by Mr Paul Usoro, SAN. I was formally inaugurated as the Chairperson of the Forum, with the Vice Chair, Secretary and Treasurer. Trite to state that the Forum which had once been in existence went into abeyance for so many years, before it was resuscitated on September

17, 2019. Generally, the role of the Forum is to pursue the interest and welfare of the female Lawyers. The Slogan of the Forum is “Empowering Female Lawyers for Success” Specifically, my role as the Chairperson is to coordinate and direct the affairs of the Forum with the cooperation of other members of the Executive to do the following: • To address matters of interest to female Lawyers • To ensure an efficient and impactful networking amongst female Lawyers • To be an influential voice as female Lawyers in the society and globally • To develop a platform that encourages female Lawyers to have a global outlook, perspective and reach • To address any other matter that affects female Lawyers The Journey So Far: NBAWF Poised to Fulfil Its Mandate

“The resuscitated NBAWF is now 30 months old. So far so good. In the 30 months….. I can say the Forum has achieved a lot from ground zero to a great height…”

The resuscitated NBAWF is now 30 months old. So far so good. In the 30 months, the grace of God, the cooperation of the other three members of the Executive, who are distinguished, experienced and respected members of the NBA; the support of the six distinguished, experienced and dynamic Council members made up of accomplished eminent professionals and personalities, who are members of the NBA drawn from the six geo-political regions of the country. I can say the Forum has achieved a lot from ground zero to a great height, because there are more heights to achieve. The Forum has spent a lot of time and resources to set a strong foundation and solid structure that will cater for the needs of the Nigerian Female Lawyer, with the aim of fostering and ensuring continuity in the future. Thera are 10 Committees with a structure made up of the Committee head, Deputy head and Coordinator and Members. Namely: - Advocacy; External; Fundraising; Media and Publicity; Mentoring; Membership; Research and Documentation; Welfare; Young Female Lawyers and Planning, which is an Ad-hoc Committee. NBAWF carried out the following: 1) NBAWF made input to the USAID Draft Protection against Sexual Exploitation and Abuse (PSEA) Policy in October 2019. 2) Participated in the Round Table on Exploring the Use of Special Measures to Improve Women’s Representation in Politics

in November, 2019. 3) Condemning & standing against Police Brutality and abuse of power on Female Lawyers in Nigeria. 4) Standing against all forms of marginalisation against women, in particular the case of the most senior Judge in Cross River State who ought to have been appointed the Chief Judge in accordance with the Nigerian Constitution and legal traditions, but was disqualified by the State House of Assembly. 5) Mentorship program for young female Lawyers in Rivers State, Oyo State and Akwa Ibom State. 6) Co-organised and Co-sponsored a parallel event at the UNCS W64 Program in New York in March 2020 (The program was however, cancelled a few days to the Conference because of the Covid-19 Pandemic. 7) Organised the 1st International Conference of the Forum to commemorate International Women’s Day, with the theme “Equality and the Female Lawyer: A Reality or a Fallacy? in March 2020. 8) Organised the 2nd International Conference – hybrid Conference with the theme “Pathway to Diversity: Challenging Blind spots and Powering up for Inclusion” in March 2021. 9) Organised webinars addressing the wellbeing of female Lawyers; future career prospects of the young female Lawyers beyond the pandemic and Inspire Lessons from the Legal Amazon in which Mrs Hairat Aderinsola Balogun OON. 10) Setting up of a working group on Domestic Violence and Work Place Bullying.

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NBAWF: Building a Solid Structure to Support Nigerian Female Lawyers 11) Facilitating the drafting of the Sexual Harassment Policy for the NBA which was unveiled at the 61st Annual General Conference of the NBA held in Port Harcourt in October 2021. 12) Written submission to the NBA on the intervention of the Association in guaranteeing the protection of Equal Dignity of Female Counsel appearing before the Federal High Court. 13) Setting up a 24/7 hotline/desk with MTN, on cases of violence against women and work place bullying. 14) Joint initiative with key Stakeholders such as the Nigerian Economic Summit Group Gender Community of Practice, for the purpose of promoting equality in law. 15) Signing of a Memorandum of Association with the New York State Bar Association (NYSBA) Women in Law Section (WILs) in August 2020, aimed at knowledge exchange & cooperation, cross promotion of events, activities and publication and speaking engagements, while recognising the advantages inherent in developing and improving understanding within the two jurisdictions, the laws relevant to women’s rights and transnational delivery of legal services. 16) Setting up an Implementation Working Group for the NBAWF – NYSBA WILs MOU. 17) Training Workshop in March 2021. 18) Meeting and discussion of possible collaboration of NBAWF with the British Nigeria Law Forum in April 2021. 19) Collating of data on all Female Judicial Officers and all Female Lecturers in Nigerian Universities, Law Schools and Institution of Higher Learning. 20) Participation at the unveiling of the NBA Sexual Harassment Policy at the NBA Conference in Port Harcourt in October 2021. 21) Launch of the NBAWF Amazon Quarterly in November 2021 on the theme “Women in Law Practice and Technology”. 22) Participation at high level Conferences with relevant Stakeholders. 23) Organised two Annual General Meetings in 2020 and 2021. 24) Collaboration with the Institute of African Women in Law on mapping women’s representation through the legal pipeline and identifying points of attrition at Bar, Bench, Academia, government agencies and law schools. 25) Preparing for the 3rd International Conference of the NBAWF, to commemorate the International Women’s Day Celebration in March 2022. Challenges One of the initial challenges was trying to find out what led to the NBAWF going moribund, before the re-inauguration in September 2019 under my leadership. Immediately after the re-inauguration, we, the Exco members, tried to find former executive members of the moribund NBAWF to interact with them. The interaction yielded positive results, as a lot was revealed. Another challenge was the NBAWF Executive members convincing female Lawyers that, NBAWF under the new administration was here to stay. Running the Forum at inception on a Zero account. This was because at inception, Council decided that the members who were less than five years at the Bar would not pay dues, and the challenge was that they form majority of the membership. The help of the parent body, went a long way in solving this initial problem. As time went on, sponsorship from Senior members of the Bar for programs was very helpful. Surmounting Approaching some members of the executive of the NBAWF that went moribund, collecting and studying documents from the Executives, discussion with members went a long way to discover the strength and weaknesses: It was not in doubt that the past executive members

Professor Oluyemisi Adefunke Bamgbose, SAN tried and achieved a lot to an extent, but NBAWF was not sustained. This information and background made the present Executive members to ensure that a sustaining structure which will be enduring is put on ground, and this, we have to the glory of God and cooperation of Council Committee heads and members, achieved this feat in putting up a structure that can be sustained. Convincing female Lawyers, this was not so difficult a task. The pedigree and experience of the distinguished Executive members, together with those of the Council members and the strong support of the parent body, the NBA, both the immediate past President, Paul Usoro, SAN and the President, Olumide Akpata; were strong factors that female Lawyers took into consideration in believing that under the watch of these persons, the NBAWF is here to stay. On the issue of running the NBAWF at inception with Zero account, the support of the parent body and goodwill of senior members of the Bar helped in the initial take off of the programs. At a later stage, the support of the current President in giving the Forum a takeoff grant, was a boost to the activities. The issue of sexual harassment is one that is everywhere - in the work place, in educational institutions, so much so that a University Lecturer of Obafemi Awolowo University was convicted and imprisoned a couple of years ago for harassing a female student. Even within our profession, some senior Lawyers are accused of harassing their female juniors, in some instances going as far as taking them out of station for cases and only booking one hotel room for the females to share with them. As a seasoned University Lecturer, why has this evil become so prevalent in tertiary institutions? Why has this evil become so prevalent

“Indiscipline of Lecturers, loose morals of Lecturers and some female Students, fear of Victimisation, laziness to study and desire of female students to buy marks with sex, lack of adequate structures /systems/ policies in tertiary institutions to handle sexual harassment cases”

in tertiary institutions? 1) Indiscipline of Lecturers 2) Loose morals of Lecturers and some female students 3) Fear of Victimisation 4) Laziness to study and desire of female students to buy marks with sex 5) Lack of adequate structures /systems/ policies in tertiary institutions to handle sexual harassment cases. • Gender Policy • Sexual Harassment Policy • System of reporting • Safe and secure way of reporting • Safe work environment • Monitoring service 6) Poor understanding/awareness/accessibility of the meaning of sexual harassment 7) Lack of commitment to structure/ policies/ actions 8) Lack of trust in the system – who handles it Do you think the laws enacted to curb sexual harassment in tertiary institutions have been effective? Shouldn’t these laws be extended to the workplace too? There’s Section 360 of the Criminal Code Act - Any person who unlawfully and indecently assaults a woman or girl is guilty and can face two years imprisonment. The Sexual Harassment Act 2020 also seeks to prevent, prohibit and redress the sexual harassment of students in tertiary educational institutions. The laws are effective to an extent. The naming and shaming is good. The inclusion on a sex offender list is good. With the laws, Lecturers do not really know how they can be detected with the many technological devices available. They are now being very careful. It is a start in the right direction. However, the laws should be extended to the work place. I really do not know why it was targeted at Tertiary institutions only. It should cover all the work places As the Chairperson of the Women’s Forum, how have you tackled sexual harassment of female Lawyers? What more can be done to stem this ugly tide, which obviously is not peculiar to Nigeria alone? (1) One of the Committees set up at inception was the young Female Lawyers Committee to address issues that are peculiar to young female Lawyers, and this includes sexual harassment and bullying. (2) Creation of a Mentor-Mentee program under the Mentoring Committee of the NBAWF, where one mentor is assigned four mentees within her State of work, to address burning issues that young female Lawyers go through. This is not limited to sexual harassment, but it extends to domestic violence, stress, child bearing and career. Quarterly reports are submitted, on ongoing

mentorship programs. (3) Creation of platforms where free discussions on experiences, are shared. (4) The NBAWF through its Advocacy Committee, facilitated the drafting of the NBA Sexual Harassment Policy which was unveiled during the NBA Conference in Port Harcourt in October 2021. (5) There is a 24/7 help desk/hotline set up by the Advocacy Committee of the NBAWF, to address the issue of sexual harassment and bullying in work place and domestic violence. (6) Holding seminars and webinars for Young Female Lawyers as to steps to take, on the issue of sexual harassment. (7) Working with the NBA Young Lawyers Forum to address the issue headlong: Organised a session at the NBA Conference on the issue of sexual harassment. (8) Membership of the NBA Sexual Harassment Policy Committee set up by the NBA President. What can be done? 1) Encouraging proper structures to be place, in all Organisations and offices. 2) Mandatory structures in all offices, and sanctions for non-provision of structures. 3) Encourage female Lawyers to speak up. This is called the ‘Sòrò soke’ philosophy. What legacy will you be leaving for your successor? I will be leaving behind: • A legacy of trust, respect and dedication to the cause of young female Lawyers. • Mentorship, inspiring others and impacting the lives of young female Lawyers. • A legacy of a solid structure and foundation, that will cater for the needs of Nigerian female Lawyers. One of my greatest joy is that NBAWF has presence in all the 125 NBA branches in Nigeria, and in the 36 States in the country. • A sacrificial, selfless service and hard work, all geared at empowering the female Lawyer for success. • A servant - leadership style. • Empowering young female Lawyers to take the initiative in assigning leadership positions to them in the forum. What other things would you like to see put in place, that you were unable to see through to the end? The fact that ALL female Lawyers in Nigeria, would be members of the NBAWF; and the structure that NBA as the parent body, would have on ground on the NBA Sexual Harassment Policy, that will eliminate sexual harassment. The general perception is that the journey of female Lawyers to the Inner Bar, is strung with many hurdles and challenges. That there are still less than 30 Lady Silks, out of over 500 men. How true is this perception, and how did you surmount yours? The perception is very true, and so obvious. cont'd on page X

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So many factors helped me overcome the hurdles and challenges that face female Lawyers, on my journey to the Inner Bar. My preparation to becoming a Senior Advocate of Nigeria, did not start when I was about to apply for Silk, or when I applied; it started right from the time I decided to become a Lawyer. They include but not limited to the following:God factor - Listening and being directed by God. This was a major factor, and the starting point. I went into Academics, because God directed me to do so. Hard work - Hard work and consistency has its rewards, and this includes success and excellence. Believing in myself - There was nothing that was taken as a stumbling block. What appeared like it, was taken as a stepping stone to greater heights. I believed in myself, and nothing was considered too difficult to achieve. Focus - In a journey to excellence, there are positive and negative distractions. Childbearing and raising children during my early academic career, were taken as positive distractions. The positive distractions were taken as one of the landmarks to achieving excellence, and were so placed in that perspective. They enabled me to focus on my work, taking it in good strides as part of achieving excellence. On the other hand, the negative distractions were handled without a shift from the main focus. Determination and Perseverance - An antidote to attaining excellence is “Never give up”. It is true that a “No” today, is not a “No” forever. The fact that a target which was set was not met, did not mean it could never be met. I applied for the rank of Silk in the year 2017, though I was shortlisted, I did not make the final list. The following year in 2018, I applied again with that philosophy in mind, and to the glory of God, I became a Senior Advocate of Nigeria that year. Discipline - It is very easy to set goals; however, without discipline it is impossible to achieve the goals, and indiscipline can never lead to excellence. It takes discipline to take steps of actions to achieve a goal. I had a leading by God to stay in academics, without distraction, I did, although it was not easy. I became the first female Senior Advocate of Nigeria, under the Academics Category. Diligence - Diligence is a virtue and antidote to excellence. Painstakingly ensuring that things were done properly, correctly and promptly, were some steps taken. Attention was given to details. For example, prompt payment of professional and membership dues of Associations and proper filing of same, were never compromised. Supportive Family - I received a lot of support and cooperation from my husband and children. An example was when I had to travel out of the country to enhance my career, and they supported me. Recently, Kwara State passed a law which provides that not more than 65% of either sex can hold political offices/high positions in Government, meaning that no matter what, there must be 35% females in key positions. This law has been reflected in the Kwara State cabinet. Kindly, comment on this move This move by Kwara State is commendable. It should be emulated in all States of the Federation. It is being done, in some other African countries. What can be done to get more women into high elective positions and governance in Nigeria? So far, the percentage of women in our Legislature (both National and State) and Executive is rather low Women must be encouraged right from primary school, to be confident of themselves. Parents, especially mothers, must encourage their children, especially the girl child, to take decisions on their own at home. Remove Stereotyping work. At all stages, encouragement should be given to females. In the University, and as the Dean of Law,

Professor Oluyemisi Adefunke Bamgbose, SAN I encouraged female law students to go for positions such as Presidents, General Secretaries, and not only as Vice President and Welfare Secretary. Encouragement of the girl – child. Education of the girl – child. Support for females. Mentorship from older influential women. Breaking gender bias, through the implementation of gender-based policies in the interest of women. Create the right and friendly environment, for women to grow in politics and governance. Need for mentoring and role models. Systematic effort by the government. Supportive policies, like the paternity leave. Combating unconscious biases. A National Gender Policy has formulated a 35% affirmative action in Nigeria, since 2006. The Policy demands that 35% of women be involved in all governance processes. The NGP is recognised, but not practised. The structures and processes to use, are not in place. This affirmative action is a constitutional provision in Rwanda. In 2013, women representation rose to 64% in Rwanda. There are structures and processes. In 2010, Senegal came up with Gender Parity Law. By 2012, the number of women in politics increased to 42. 7%. I believe in affirmative action. It is one sure way, to get women to the top. One of the biggest challenges in contemporary Nigeria is the sharp rise in domestic violence, incest and rape. What would you suggest as a lasting panacea to this hydra-headed monster? Provide adequate job opportunities for women. Devote time to the training and proper upbringing of the male gender. Sensitisation and awareness programs in rural areas, to educate the girl-child on how to protect herself. Parents should be educated

“I applied for the rank of Silk in the year 2017, though I was shortlisted, I did not make the final list. The following year in 2018, I applied again with that philosophy in mind….. I became the first female Senior Advocate of Nigeria, under the Academics Category”

to build the required confidence in their girl-children, to speak up when necessary. Many States, especially in the North are yet to domesticate the Violence Against Persons Act and Child Rights Act. It is still quite common place to find girls as young as 13 years old being given away in marriage, despite the attendant health consequences of Vaginal Fistula and others. How can the weight of the law be brought, to address this worrisome issue? Domestication of the Child Rights Act and Violence Against Persons Act in the States, are under the concurrent list. The implication is that, it is the State that can make the Laws for their respective States. It is therefore, impossible, to force a State to domesticate such a law. It is not the weight of the law, that will address this worrisome issue. Education, sensitisation and empowerment programs by Non-governmental organisations and the civil society groups, will go a long way in addressing these issues. Clerics and traditional rulers must be enlightened, on religious and cultural issues which affect the girl child. Despite the fact that many Universities are yet to have their full accreditation for Law, many of them are springing up with Law Faculties, both private and public institutions. Today, there are widespread complaints and concerns over the quality of law graduates and new wigs. Has Nigeria descended too low in educational standards, to be able to rectify these anomalies? It is not just the fault of the Universities, but also the fault of accrediting bodies who are not imposing sanctions on erring institutions. This makes other institutions to follow suit, in not following the rules. There may be complaints and concerns over some, and I stress “some” law graduates and new wigs, but it is not in all cases. For example, the products of some Universities, like the University of Ibadan, are the pride of the University, anywhere in Nigeria and the world. Conduct an interview in the Law School, and take a sample of work places; it will be attested to that the quality of students produced at the University of Ibadan, are the best. From the results in the Nigerian Law school, it is evident that UI produces very high-quality students. In addition, in the selection of Body of Senior Advocates of Nigeria Scholars (BOSAN SCHOLARS), the students of Faculty of Law, University of Ibadan ranks top amongst others. The complaints and concerns will reduce, if Law Faculties producing these types of students can improve their teaching standards,

mentoring skills, meeting the bench ,marks and the accrediting bodies must also maintain the standards. These anomalies can be rectified. It has been suggested by a few on numerous occasions that Law should be made a second degree, or in the alternative, Law School should be made a two-year program. On which side of the divide are you? There are pros and cons to suggest that law should be a second degree or in the alternative, that Law School should be made a two-year program. When law was a second degree in the University of Ibadan, I saw maturity in the way law students behaved. However, when this was stopped, students coming from A levels and some straight from secondary school, exhibited such maturity. It is my opinion that Law School should not be made strictly for 1st degree holders only. It is not a way of reducing the number of Lawyers produced. Neither should Law School be made a two-year program. Going by the success rates of young Lawyers in the country, one can confidently say that studying Law at a young age is indeed, better and advisable. Young Lawyers have enough time to learn, grow and progress on the job. Making the study of Law a second degree would discourage lots of young minds, which could amount to the profession short changing itself. I believe the study of Law as a first degree is preferable and has lots of advantages, with little or no disadvantages. Students are caught young with bare minds, which can accommodate the right teachings at that period. I believe that whatever reasons are adduced for the suggestions can, be properly reviewed and analysed. It is on record that your entire household, is comprised of Lawyers. Your husband is a Judge, yourself and all your children. Quite amazing! Was this deliberate between you and your husband, to get your children to follow in your footsteps? And how does it play out on the home front Your observation is correct and it is true, to the glory of God. My husband and I, did not influence any of the children to read Law. I believe God wanted them to be Lawyers, and I believe they saw good examples in us. On the home front, it is very interesting. We share ideas with each other. We do not always agree on all issues relating to law. As Lawyers, we argue from different perspectives. It is interesting because, there is someone in the family you can always ask for opinions on any aspect of the law. However, I must state that arguments end on issues of law. The fact that we are all Lawyers does not affect us, knowing that we have different roles in the family. Thank you Learned Silk

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FEATURES

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

Charting the Roadmap to a Circular Economy in Lagos Lagos State plans to lead the trail in circular economy in Nigeria but there are a few potholes to be filled. Vanessa Obioha reports on a recent stakeholders engagement spearheaded by agencies under the state's ministries of Environment, Economic Planning and Budget, in collaboration with Nondunna Ltd, a policy and management consulting firm

A waste disposal site

ith a growing population of over 20 million, Lagos State is one of the fastest-growing cities in the world. This makes it prone to waste generation. The state currently produces about 14,000 metric tonnes of waste that harms its economy; from environmental hazards to human health and livelihoods. Therefore, it becomes imperative that the state which prides itself as a model for other states in the country to follow begins to transition from a linear to a circular economy. How to facilitate the transition was the focus of a recent gathering of stakeholders in Lagos. Organised by the Lagos State Environmental Protection Agency and Lagos Resilience Office, agencies under the Ministries of Environment and Economic Planning and Budget respectively, and anchored by Nondunna Ltd, a policy and management consulting firm, stakeholders plumbed ways to limit waste generation and build a resilient economy. In her presentation, the Executive Director of Nondunna Ltd, Nonny Ugboma whose company is handling the project, stated the four deliverables the state hopes to achieve in implementing a circular and resilient economy. They include providing a Circularity Gap Report, content development and strategic communications, project repository and tracking dashboard, and fundable projects. Awareness and data sharing appeared to be the most challenging factors from the submissions at the meeting. A circular economy is not a popular term and may require a breakdown for people living in the grassroots. In simple terms, a circular economy refers to the conservation of natural resources and waste reduction. It is an economic model which aims to produce goods and services sustainably, limiting consumption, and waste generation.

While a linear economy extract, produce, consume and dispose of, a circular economy share, rent, re-use, repair, renovate and recycle existing products to add value. First used in the article 'The Economy of Natural Resources' in 1988, circular economy is based on three principles: eliminating waste and pollution, circulating products and materials, and the regeneration of nature. Although a new concept, many countries are already adopting it as it offers significant opportunities for more inclusive economic growth, which includes job opportunities and positive environmental practices that are directly required for sustainability. According to United Nations reports, Nigeria generates 43.2 million tonnes of waste annually. It is projected that it will generate an estimated 72.46 million tonnes of waste annually at a projected rate of 0.85 kg of waste/ capita/day by 2025. Therefore in working towards a circular economy, Ugboma underscored the need to create awareness to keep the public informed. Such awareness will require a rounded communication process. For instance, the Circularity Gap Report will keep stakeholders informed on areas where waste generation is

worse as well as engagements in tackling the issue. Ugboma highlighted that every organisation should have waste management in mind, arguing that the problem of the linear economy is in the process itself. Explaining further, Anthony Alagbile provided more insights on how the transition will happen. He revealed that the state will kick off with three local government areas: Alimosho, Oshodi and Ikeja. According to him, these areas were picked based on a "matrix that took into consideration the population size, cluster of residential areas, the variety and quantum of waste that is generated and a cluster of industries." He also noted that incentives were created to engage the younger generation digitally to fully understand the importance of waste management. While stating that Nigeria is already accustomed to a linear economy, the General Manager of LASEPA, Dolapo Fasawe, argued that plastic is not entirely a bad product but the improper disposal of it is what causes harm to the environment. "It is an economy where, from conception, you're already thinking about sustainability, and you want to know what your end-product would

"It is an economy where, from conception, you're already thinking about sustainability, and you want to know what your end-product would be. Plastic is not totally a bad thing, but when it is not properly disposed of, it clogs our drainage system and causes flooding. So, we are saying when you use plastic, reuse it, and recycle it"

be. Plastic is not totally a bad thing, but when it is not properly disposed of, it clogs our drainage system and causes flooding. So, we are saying when you use plastic, reuse it, and recycle it. You can use it up to ten times, and there are off-takers in this country; if you need a list, come to LASEPA. " However, attendees argued that more is needed to accelerate the process. They call for more engagement with other stakeholders. There were concerns also about drop-off zones for waste collection, as well as deploying the waste to wealth incentives to help in waste management. It was suggested that the 'area boys' can be used effectively in this regard. Regarding content development, a communication strategist Ayodeji Tobun assured that the approach adopted will achieve four main objectives which are to educate, inform, call to action and gamify content such that it drives engagement. He said at the core of the communication strategy is to make the circular economy an everyday language. Already, the Chief Resilience Officer, LASRO, Fola Dania disclosed that the Eko Circular Podcast will help educate residents on building a resilient economy. While using technology to solve waste management was welcomed, guests expressed concerns on data sharing as most companies are protective of their data. Therefore, even if Nondunna builds a tracking dashboard for stakeholders to help data collection from informal sectors, they fear that if the data is not made public, it will slow down requests. Despite the concerns raised, stakeholders agreed that turning Lagos State into a circular economy was the way to go considering that it presents an economic opportunity worth USD4.5 trillion. Countries like Sweden and Norway are already ahead to the extent of importing waste. Perhaps, Lagos will lead the path in the coming years.

T H I S D AY ˾ DAY FEBRUARY 15, 2022

FEATURES

Promoting Symbiotic Relationship between Nigeria, China Chiemelie Ezeobi reports that the recently held Chinese New Year Anniversary was an opportunity to examine the thriving cultural relationship between Nigeria and China while positing a way forward to ensure an enduring mutually beneficial and symbiotic partnership

or the Chinese, their New Year Festival is often commemorated as a very big deal. According to Wikipedia, the Chinese New Year is the festival that celebrates the beginning of a new year on the traditional lunisolar and solar Chinese calendar. This year, it was marked on February 1 and was tagged the "Year of the Tiger". Across the world, the Chinese community mark this festival with pomp. In Lagos, Nigeria, it was not different. Organised and hosted by the Huaxing Arts Troupe Nigeria Limited at Oriental Hotel in Lagos, it brought together the Chinese community and stakeholders. Speaking on the topic: ‘Promoting Friendships between Nigeria and China: The Benefits, Expectations, Challenges and the Way Forward’, the Minister of Information and Culture, Alhaji Lai Mohammed, said the importance of promoting friendship between Nigeria and China cannot be overemphasised. He said apart from the very strategic relations between the governments of these two countries, the need for the promotion of friendship between their citizens is even more compelling for the fact that China has the largest community of foreign nationals in Nigeria. Represented by the Director General of the Centre for Black and African Arts and Civilisation (CBAAC), Hon. Oluwabunmi Amao, the minister said it is the consensus of opinion among scholars of International relations that the relationship between the two countries dates back to the 15th Century, but it was not until 10th February, 1971 that relations between China and Nigeria was formalised with the establishment of diplomatic ties and the opening of embassies in each other’s country within the same year. With over five decades of international relations, the China-Nigeria Relations are in the areas of: politics, trade, investment, aid, technology, science, culture, education, health and military. Economic Cooperation On the economic benefits of Nigeria-China Relations, Amao said: "Both countries have increasingly realised the importance of economic cooperation between them." Adding that Nigeria has tapped into its technical assistance in the development of its infrastructures, she said China too has tapped into Nigeria’s oil and gas sector to fuel its growing industry. "In addition, Nigeria has proven to be the largest market for China’s industrial products in Africa such Textiles, Pharmaceuticals thus accounting for over a third of its total trade with West Africa. "Although accurate figures are difficult to find, it is believed that Nigeria-China trade moved from about $1.8 billion in 2003 to $13.5 billion in 2018. In this process, more Nigerians have equally established business and other relationships in China. "Going by indices at the level of Economic relations, the volume of bilateral trade between the two countries have been valued at over $50 billion in the last three years. There are about 218 Chinese companies in Nigeria and are all actively engaged in the various sectors of the economy." Infrastructural Cooperation and Development On this she acquiesced that "it is true that China’s relationship with Nigeria has helped the country Infrastructure-wise. "In specific terms, one major area of the Chinese strategic relationship with Nigeria is the building of rail infrastructure which is gradually positioning Nigeria as a modern economy with infrastructural foundation. "In recent years, the China Civil Engineering Construction Company (CCECC) has delivered four major railway projects after completion, all with a total stretch of 712km, a huge economic value that has been added to the country. "The CCECC has proven over time to be a reliable supporter of infrastructure upgrade and creation for the economy of Nigeria. Nigeria has benefited from a number of Belt and Road Initiative (BRI) projects. Notable ones include the Abuja/Kaduna Standard Gauge Rail Line linking the nation’s capital Abuja to Kaduna, a trade centre and transportation hub in North-Western Nigeria, the Lagos/Ibadan

cultural exchanges between Nigeria and China are still areas with huge and untapped potential. "I wish to assure the Chinese Government and its people that Nigeria’s Federal Ministry of Information and Culture is fully committed to ensuring that culture is properly harnessed to contribute its quota in promoting friendship and cooperation between the two countries."

Hon. Amao presenting an award on behalf of the Chinese Community to Dr. Eric Nil, the Chairman, HUAXING ART TROUPE, Nigeria, for his meritorious contribution in advancing the course of the Chinese people in Nigeria Standard Gauge Rail Line linking Lagos, Nigeria’s economic capital to Ibadan, the former administrative capital of southwestern Nigeria, and the Lagos/Kano railway, which is an ambitious project connecting the two most populous cities in Southern and Northern Nigeria. Others include new International Airport terminals in Abuja, Port Harcourt and Kano. Cultural and Educational Cooperation/ Exchanges The fields of Culture and Education are some of the areas that have featured prominently in the friendship between China and Nigeria. As of 2019, Nigeria had the highest number of African students studying in China; there were about 6,800 Nigerian students in various fields many of whom received scholarships from the Chinese Government. Culturally, even though China and Nigeria have vastly different historical experiences and cultural traditions, China has been remarkably successful in its efforts to promote Chinese culture in Nigeria, and Nigeria also benefitting in like manner. Student exchanges and the increase of Chinese media in Nigeria have been the primary mechanisms behind the increasing cultural synergy between the two countries. "For example in 2007, Nnamdi Azikiwe University, Akwa, Nigeria, established a Confucius Institute to teach the Chinese language to Nigerian students. Some years later, the University of Lagos followed suit. "The Confucius Institute is a non-profit making organisation that promotes the teaching of Chinese language and culture. It was founded as a cooperation between the Beijing Institute of Technology and some Nigerian Universities. "As business linkages between China and Nigeria have grown rapidly in recent years, the institute has been acclaimed as a successful project (Samuel Ramani, 2016). "Its success was acknowledged on June 29, 2016 when the Chinese Embassy in Abuja announced the establishment of Nigeria’s first Chinese Cultural Research Center. "The embassy also pledged to create an Igbo language institute in China to encourage Chinese university graduates to work for Chinese companies in Nigeria." Blossoming Cuisines Another very significant area the friendship between Nigeria and China has blossomed is in the area of cuisines with the presence of several Chinese restaurants across the

Nation. "In Lagos State alone, there are not less than 50 Chinese restaurants across board which enjoys a high level of patronage from both Nigerians and Chinese expatriates. "Abuja and Lagos have also played host to the Spring Festival Temple Fair at different points in time. This have in no small way deepened the cultural relationship between both countries." She disclosed. Military Cooperation and Assistance Military cooperation is yet another area of friendship that is of huge significance. According to Amao, at some point when a number of advanced nations of the world denied the sales of Military equipment and support to Nigeria, the Chinese offered to fill the void by selling Military aircraft, like fighter jets which the Nigerian Air force have been using to prosecute the war on terror as well as some Naval warships which have boosted Nigerian Navy’s operations in the nations’ maritime domain. "They have also assisted in supplying military technology and sending military trainers to assist Nigerian forces in their counter-insurgency efforts. "Additionally, in 2019, China donated about N2billion to Nigeria to support the fight against insurgency. This was in fulfilment of part of the military-to-military cooperation consummated between the two countries during their bilateral agreements and MoU on peace and security in 2018. "No doubt, these actions reaffirmed the Nigeria-China friendship and have contributed greatly to Nigerian’s positive perceptions of China," she added. Broadening Cultural, People-to-People Exchanges On the need for both countries to broaden cultural, and people-to-people exchanges to deepen their traditional friendship, she noted that "the two countries need to take into consideration the growing enthusiasm of their people for interactions; encourage friendly exchanges in Education, Culture, Health, Science and Technology, Media and other fields, and increase people-to-people exchanges to cement the social foundation for China-Nigeria friendship. "Consequently, China and Nigeria must make use of the platforms to increase mutual visits by Central and Local Governments, Art troupes (like the Huaxing Arts Troupe) and Academic groups as well as other exchanges at all levels and in all fields. "For example, people-to-people and

"The two countries need to take into consideration the growing enthusiasm of their people for interactions; encourage friendly exchanges in Education, Culture, Health, Science and Technology, Media and other ﬁelds, and increase people-to-people exchanges to cement the social foundation for China-Nigeria friendship"

FESTAC'77 @45 Whilst speaking, Amao chipped in that the Centre for Black and African Arts and Civilisation (CBAAC), a parastatal of the Federal Ministry of Information and Culture has commenced preparation to commemorate the 45th Anniversary of Second World Black and African Festival of Arts and Culture (FESTAC’77@45). "Being the Organisation established after (FESTAC’77), CBAAC is in custody of all the materials including Artefacts, Art Works, Footages of Performances and all other collections exhibited by the 59 Black and African Countries that participated in FESTAC’77. "FESTAC’77 @ 45 is designed to be a weeklong event packed with activities to showcase diverse cultural expressions and entertainment which include Music, Dance, Poetry, Folklore, Drama, traditional Cuisines/Food Fair, Arts and Craft Exhibitions, Cultural Variety Night etc. "This would afford artists and culture practitioners on both the African Continent, the Diaspora as well as other countries of the world the platform to promote and encourage their diverse creative expressions/elements, products and art forms. "We have since commenced the preparation with a number of stakeholders including UNESCO, the African Union Commission and its members states. "We therefore wish to invite the Chinese Government and community to be part of this Cultural Fiesta to once again cement bones of friendship that is already existing between Nigeria and China," she disclosed. Challenges of Nigeria – China Relations In spite of the successes recorded as a result of the friendship and bilateral relations established by the two countries, Amao said it was not without some challenges. She said: "It is important to note that the relationship has not entirely been a smooth sail with many Nigerians believing that it is no longer a Win-Win situation as claimed by China. "Firstly, there is the well circulated notion of Chinese manufacturers colluding with some Nigerian traders to produce cheap but inferior products especially pharmaceutical products, textiles, electronics, footwear etc. "Nigeria-China history is marked by solidarity, but also dented by Old and New racism. For example, in April 2020, a video emerged online of a Nigerian diplomat in China, Razaq Lawal, publicly criticising his compatriots’ maltreatment in Guangzhou by Chinese officials in the wake of COVID-19 Pandemic. It would be recalled this caused a diplomatic uproar between the two nations." Sustaining an Enduring Relationship But beyond that, stressing that both countries have had an enduring relationship, she said that as they have both come a long way "it is safe to conclude that the two countries are on an enduring relationship that is daily blossoming and growing to a huge bilateral synergy built on strong mutual benefits. "China’s investment in Africa and by extension Nigeria is phenomenal and has over time progressively transformed into Africa’s largest trading partner surpassing traditional partners such as Europe and the United States of America. "As it is, there is need for concerted efforts by both countries to ensure that gains of the friendship that have been recorded continue to blossom". Way Forward Positing the way forward, Amao said "Apart from what is already established, the two countries have huge potential for investment cooperation, which is highly complementary, especially in the field of energy, resources, and infrastructure. There is a need to develop and tap this cooperation’s potential."

XVI

T H I S D AY ˾TUESDAY FEBRUARY 15, 2022

PROPERTY & ENVIRONMENT Intercontinental Park Presents Residential, Investment Hubs Bennett Oghifo

ome rare piecies of real estate are emerging in the Lekki Free Trade Zone axis of Lagos. One of such exquisite developments is the Intercontinental Park, promoted by Aimart International, a frontline real estate and investment company. Intercontinental Park is being developed on 28 acres of land at Ibeju-Lekki, Lagos and it is conceived as a city with independent hubs for residential purpose, technology, education, and business, among every other aspects of life. At the groundbreaking ceremony of the city last week, were the Chairman of Ikorodu West Local Government Area, Hon. Olarewaju Sulaiman Kazeem; Chairman, Ibeju-Lekki Local Government Area, Hon. Abdullahi Sesan Olowa; Chairman, Aimart Board, Maj. Gen. (Rtd) Muyiwa Badewole; Managing Director, Aimart, Bukola Iluyomade; and the Head of Business and Marketing of Aimart, Mrs. Taiwo Bright, among other distinguished personalities. Managing Director, Aimart, Bukola Iluyomade said before the end of this year some of the company’s structures would be built. “We have partners like Lagos Building Investment Company (LBIC) and we’re in talks with the Federal Mortgage Bank of Nigeria (FMBN). Those are the two financial organisations backing us.” Intercontinental Park is conceived as an integrated city where investors can work, live, and play and with provision for every aspect of life. “You can get everything you need without leaving the neighbourhood. So,

that is the vision here and every section will accommodate a variety of people and projects. We are building a 5-star hotel here.” The new city is near the Dangote Refinery, and the Deep Sea Port, as well as other sturdy projects. “Eighty per cent of the foreign direct investment (FDI) coming into Lagos is in this axis Ibeju-Lekki. So, we decided to create different hubs that people will need.” Aimart, she said would develop some projects and that other investors would build what they want in their preferred hub(s). “For instance, we have the school by Holy Child of Jesus and they are doing their development. We have other investors that want to do their developments themselves. We also have our residential hub that we are going to handle, as a company.” The Chairman, Ibeju-Lekki Local Government Area, Hon. Abdullahi Sesan Olowa said Intercontinental Park is a prime investment that occupies a strategic location. “Our belief that this is New Lagos is real. From the government’s perspective, you’ve taken a strategic decision in investing here. I can tell you it is a very good investment and any other person that wants to invest, I want to urge them to quickly come here. The Deep Sea Port that we have here is the first of its kind in West Africa, and it’s two or three minutes from here (Intercontinental Park). Besides, we have so many private investors coming to invest here in the Free Trade Zone. Dangote Refinery, the single largest train in the world is also here. The founding fathers of Lagos conceived Ibeju-Lekki as the New Lagos and we’re happy that it is happening in our

Dradrock Opens Abuja Ofﬁce, Promises Customers More Value Dradrock development, a leading private developer in luxury real estate with a niche in Lagos, has set up a branch in Abuja. The office in the Central Business District, Abuja, will serve customers within and outside the Federal Capital Territory. Group Managing Director, Oladipo Idowu -Agida, said that the opening of the branch office had always been a part of the expansion drive of Dradrock’s management. Idowu-Agida added that the decision was in response to a strong demand by FCT residents keen on acquiring their first homes or investing in properties His words: “We already have a solid and customer-centric management team in place, seeing to the needs of these

customers in Abuja and its environs. “Dradrock, according to him, will launch its first project based on customer’s preference and location next month. We always pride ourselves in ensuring we acquire or go into a joint venture with the necessary documents in place. As part of our core value, ‘Integrity’ is crucial, which was one of the primary reasons we took time to step into the Abuja market. “Before our coming into Abuja, we have spent the last four years delivering premium apartments, terraces, and site and serviced estates in Lagos. The Abuja market is the first step in our expansion plans to some cities in Nigeria and even beyond. We have always seen the opportunities that abound in the Real Estate space in Abuja, and we look forward

to serving Nigerians home and abroad with the best value in this sector. Dradrock’s General Manager, Business Growth , Motunrayo Ayorinde, explained that the Abuja office “will focus on assisting investors home and abroad with market access.” “Over the last two years, there have been several requests from customers for properties and investment opportunities in Abuja. Our company is therefore ready to bridge the gap.” she added. Ayorinde disclosed that “one of the many properties we are bringing to the Abuja Real estate corridor is the award-winning Millennial Bay twin towers in Lekki Phase one. Recall that Millennial Bay won the best Architectural Design for A Multi-Residential High-rise Building in 2021.

own time. That dream is becoming a reality.” The chairman said the investments of the Lagos and federal goverments in Ibeju-Lekki are deliberate, stating that the federal government had awarded a contract for the expansion of road to Elekan area and that the Lagos government is going to build a rail line in that axis. “So, anybody looking for a place to put their money should know that Intercontinental Park is an ideal place to put your money.” According to the Chairman of Ikorodu West,

Hon. Olarewaju Sulaiman Kazeem, who said he had been a close associate of the promoters of the city, stated that he was not surprised at the emergence of Intercontinental Park and that he has confidence in them. “They started from scratch, and it is important to dream and more important to live the dream. You must be a realist; dream and pursue it.” The developers of the project said it is massive and that once it starts, they will not stop until it is complete.

L-R: Chairman, Ikorodu West Local Government Area, Hon. Olarewaju Sulaiman Kazeem; Chairman, IbejuLekki Local Government Area, Hon. Abdullahi Sesan Olowa; Head of Business and Marketing of Aimart, Mrs. Taiwo Bright; Chairman, Aimart Board, Maj. Gen. (Rtd) Muyiwa Badewole; and Managing Director, Aimart, Bukola Iluyomade, at the groundbreaking ceremony for the development of Intercontinental Park in IbejuLekki... recently

ARCON Registrar Urges Multi-Disciplinary Approach to Reduce Fire Outbreak Fadekemi Ajakaiye Good architectural design has been said to be panacea to fire incidences in Nigerian public spaces, especially markets. This was the submission made by the Registrar, Architects Registration Council of Nigeria (ARCON), Arc. Umar Murnai Saulawa at the just concluded conference organised by the Nigerian Building & Road Research Institute (NBRRI) Workshop held in last week. In his paper, ‘Fire Safety Design Considerations: A Panacea For Fire Severity Reduction In Markets’, the ARCON who lamented colossal loss of lives and properties to fire incidences, however maintained that the unfortunate occurrence could be addressed with qualitative architectural design. According to him, the primary

objective of his discourse was to enlighten Nigerians on the roles of architects and architectural designs to reduce to acceptable limits the potential for death or injury and loses to the occupants, the owners, the customers and others such as fire rescue service providers. He said, the lack of architectural designed spaces using the safety factors in the building and fire code creates environments with no restrictions to spontaneous and massive conflagrations. He said: “Most conflagrations start off with a source of heat, whilst the fuel is often the combustible goods and structures that makeup majority of the occupancy of the market; the open air in these spaces provides the oxygen, often exacerbated by winds and movement of hot air during the fires.” He noted that fire incidences

could be prevented through the deployment of passive and actives measures. The passive measures, according to him take the process of utilisation fixed, passive and immobile structures and design parameters in the prevention and containment of fires. “These measures are principal component of architectural design processes governed and dictated by the building and fire codes. This is the process of utilizing architectural design in developing buildings to ensure fire safety.” Also, Murnai added that, strict compliance to the nation’s building code should be enforced because the code delineates the process of creating an architectural drawing for a building with the necessary design measures for passive and active methods of fire safety by establishing steps and processes.

Sanwo-Olu Breaks-ground for Construction of Ojota-Opebi Link Bridge Bennett Oghifo Governor Olusola Sanwo-Olu of Lagos State recently broke-ground for the construction of a 3.89 kilometre link bridge connecting

Ojota to Opebi and other roads, included in the project. Construction of the iconic ‘Ojota-Opebi Link Bridge and Approach Roads’ project was first initiated over 20 years ago.

L-R: Managing Director Julius Berger Plc, Lars Richter; Lagos State Deputy Governor, Dr. Obafemi Hamzat; Governor of Lagos State, Mr Olusola Sanwo-Olu; Special Adviser to the Governor on Works and Infrastructure, Engr.Aramide Adeyoye; and Commissioner for Transportation, Dr Frederic Oladehinde at the groundbreaking of Legacy Project Ojota-Opebi link bridge and Approach Roads… recently

Speaking at the ceremony at the Opebi-end of the project, Governor Sanwo-Olu stated that his administration recognised the need to provide another Legacy Project by constructing the Ojota-Opebi Link Bridge and Approach Roads to connect Opebi Road from its tail-end with Lagos-Ikorodu road by Odo Iya-Alaro in order to ease the traffic situation at Opebi-Sheraton Link Road and Mobolaji Bank Anthony Way. Governor Sanwo-Olu said the flag-off demonstrates the priority his administration accorded the welfare and well-being of the people as the project will invariably reduce travel time for Lagos and Ikorodu bound traffic from Opebi, while it is also a testament of its commitment to the Greater Lagos Vision in line with the Traffic Management and Transportation Pillar of the T.H.E.M.E.S Agenda. “We have a firm conviction that the 3.89 kilometre Ojota-Opebi Link Bridge and Approach Roads will, upon completion, inject considerable life into the socio-economic activities of the thousands of people who live, do business or use the road to connect to their various destinations. “We recognise the strategic importance of road infrastructure to sustainable development, which explains our administration’s focus on the provision of road infrastructure to achieve some pre-conceived targets like reduced travel

time on our roads; (by saving important manhours that would have been otherwise lost to traffic); enhanced inter connectivity; provision of better riding surface; and elimination of traffic gridlocks while generally making life more meaningful to commuters in Lagos State. “We have committed substantial resources to the provision of quality road, waterways, and rail infrastructure to the people of Lagos and we have so far expended billions of Naira to modernise highways, upgrade our road infrastructure, complete projects inherited from the previous administration, and replace the lighting systems on our roads.” “I am excited to inform you that since the inception of this administration almost three years ago, we have shown our commitment to the continued construction and maintenance of road infrastructure by completing, commissioning and handing over 65 road projects and several other improved junctions, while more than 50 others are at various stages of completion. “This is in addition to the maintenance of over 832 roads, covering approximately 252km direct intervention in the form of Routine Maintenance and Palliatives Works on Strategic Roads (Complete and Sectional Overlay and Potholes Patching) by the Lagos State Public Works Corporation,” he said.

T H I S D AY ˾ TUESDAY, FEBRUARY 15, 2022

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

F E B R U A R Y

S & P INDEX

1 4 , 2 0 2 2

S & P INDEX

EXCHANGE RATE

OBB

9.00%

CALL

INDEX LEVEL

564.02%

1/4 TO DATE

5.82%

N413.03/ 1 US DOLLAR*

OVERNIGHT

10.75%

1-MONTH

1-DAY

–0.17%

YEAR TO DATE

– 15.85%

*AS AT LAST FRIDAY

3-MONTH

10%

MONTH-TO-DATE

0.19%

Report: Retention of N3trn Fuel Subsidy to Raise Nigeria’s Budget Deficit from 3.4% to 4.7% in 2022

Emmanuel Addeh in Abuja A new report by Renaissance Capital, a frontiers market investment bank, has projected an increase in Nigeria’s budget deficit in relation to Gross Domestic Product (GDP) from 3.4 per cent to 4.7 per cent on the back of the recent announcement of the retention of a N3 trillion fuel subsidy this year. Nigeria’s President, Muhammadu

Buhari while presenting the 2022 Budget on October 7, 2021, to the Joint Session of the National Assembly, had announced that the budget will have a deficit of about N6.25 trillion, approximately 3.39 per cent of GDP. “On the fiscal front, the delay in removing the subsidy implies a budget deficit of 4.7 per cent of GDP in FY22, on our estimate vs the government’s 3.4 per cent target, ”the report said.

Although, typically, an improvement in FX liquidity hinged on higher oil price, lubricates Nigeria’s economic engines and spurs an increase in economic activity, but in 2022, it stated that this will be undermined by an uncertain outlook for oil production. “This explains our small upward revision of our 2022 growth forecast for Nigeria to 2.9 per cent, at an oil price of $80 per barrel vs 2.8 per cent previously at $60 per barrel.

“We forecast flat growth of 2.8 per cent in 2023, as we see no significant upside catalysts, and expect a lengthy settling in of the new administration, which will place a dampener on growth, ”it added. The outlook for oil production, the report stated, remains uncertain, because it will depend on new investment in the sector and oil producers’ effectiveness in fighting decline rates, which are a function of

the underinvestment over the past couple of years. Nigeria’s total liquids production (crude and condensates) has been falling by 650kb/d since the onset of the pandemic in March 2020, to 1.47million b/d in December 2021. However, it said that total liquids production increased by 210kb/d in January to 1.68mnb/d, for the first time since July 2021. It also projected a total liquids

production at 1.71.8 million b/d, on average, in 2022, moderately up from 1.6 million b/d in 2021. In January, Nigeria’s finance minister announced that the federal government was suspending its plan to remove the petrol subsidy in July. This was seen as a response to the labour unions that threatened to strike in January in protest against plans Continued on page 26

‘NNPC’s Pre-emptive Rights on Sale of JV Assets Will “Demarket” Nigeria’s Hydrocarbons’ Emmanuel Addeh in Abuja Any plan by the Nigerian National Petroleum Company (NNPC) Limited to exercise its pre-emptive rights over the sale of the assets of its Joint Venture (JV) partners may mean nationalisation of the facilities and a “demarketing” of Nigeria’s fossil fuels, the Editorial

Board of Africa Oil & Gas Report, has posited. In the article titled “NNPC’s Grab and Grab Will Demarket the Nigerian Hydrocarbon Opportunity,” the oil and gas-centred magazine, opined that if NNPC’s intention is to take over ownership from non-investing partners through acquisition of the

rights in the JVs, it will send the wrong signal to foreign and local investors. Although still speculative, the editorial stated that if the national oil company makes good its plan, “investors around the world will mark Nigeria as a no-go area”, since the NNPC could simply exercise its pre-emptive rights after they (investors)

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N9000

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N24000

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N15000

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N14000

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N13500

must have spent millions of dollars going through the bid process. To buttress its argument, the magazine stated that in the week of January 24, 2022, speculations emerged that the NNPC had exercised its right of pre-emption of the ongoing divestment of ExxonMobil’s JV assets, located in the shallow offshore in

SIZE

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Nigeria. On the heels of those speculations, it stated that the news that the state hydrocarbon firm had received a $5 billion corporate finance commitment from the African Export Import (Afrexim) Bank to fund major investments in the country’s

upstream sector, also emerged. The company’s editorial board insisted that if NNPC’s plans for the money include pre-empting the sale of ExxonMobil’s and /or Shell’s JV assets to other parties, then it would be deeply concerning. Continued on page 29

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N18,000

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N9,500

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N23,000

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TUESDAY, FEBRUARY 15, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

REPORT: RETENTION OF N3TRN FUEL SUBSIDY TO RAISE NIGERIA’S BUDGET DEFICIT FROM 3.4% TO 4.7% IN 2022

to remove the subsidy. The petrol subsidy is estimated to have amounted to NGN1.4 trillion in 2021 (over $3 billion), which is equivalent to 10 per cent of the 2021 budget. The suspension of the plan to remove the subsidy implies that the federal government now has to make an allowance of N3 trillion, as proposed by the national oil company, in the 2022 budget for it. “This implies a wider deficit than the government was projecting of 3.4 per cent of GDP. Higher security spending is another downside risk to the budget deficit. We think a deficit of 4-5 per cent of GDP in FY22

is more likely,” the report added. With the presidential election around the corner, Renaissance Capital stated that there will be a higher degree of uncertainty, particularly around policy, ahead of the polls, compared to that of 2019 when the incumbent sought a second term. “We expect activity to remain muted in the two quarters following the election due to the transition from one administration to the next. “In Nigeria’s case, it takes several months to appoint a cabinet, as it must be representative of all 36 states. When Buhari won the presidential election in March 2015, it took him six months to

put together a full cabinet,” it said. The report listed three strong themes namely: a strong oil price; elections; and high inflation that will dominate the economic space in Nigeria in 2022. In addition, the firm said it expects Nigeria’s current account (CA) surplus to increase to 1.2 per cent in 2022 as against 0.8 per cent in 2021, a firmer FX rate of NGN465/$1 at year end 2022, but flat growth of 2.9 per cent and a budget deficit of roughly 5 per cent due to the fuel subsidy. While the pick-up in the oil price has been stronger and more persistent than expected, RenCap

explained that it still expects the “overvalued” naira to depreciate, but by a smaller rate to NGN465/$1 in contrast to its previous forecast of NGN482/$1. It stated that the Dangote refinery is set to start producing in 2H22, which should help boost manufacturing activity, saying however that uncertainty in the oil sector implies a limited contribution from this sector to growth. “We expect inflation to slow to 12.4 per cent at YE22, from 15.6 per cent a year earlier, but the risks, including insecurity, are to the upside, ”RenCap analysts noted. According to the firm, the start

of operations at the Dangote oil refinery in 3Q22, implies an increase in activity in the oil refining sector which has been on the decline for 11 consecutive quarters and by implication the manufacturing sector, which is positive for growth. Stressing that the naira is now 14 per cent overvalued as against 9 per cent a year earlier, on its Real Effective Exchange Rate (REER), the organisation maintained that the naira has a fair value of NGN482/$1 currently. “We believe that the strong oil price, which is positive for exports; and the prospect of the Dangote refinery commencing operations in

2H22, which implies FX demand for Nigeria’s biggest import, fuel, will fall, increases the likelihood of the central bank under a Buhari administration maintaining an overvalued currency, ”it added. In December, Nigeria’s lawmakers approved total spending of NGN17.1 trillion in FY22, a 4 per cent increase from the N16.4 trillion that Buhari proposed when he presented the 2022 budget proposal to the National Assembly in October. This implies a 17 per cent increase in spending, two-thirds of which will be financed with revenue and the remaining one-third with new borrowing and other proceeds.

Former Shell Lawyer Cautions Prospective Buyers Against Purchase of SPDC’s ‘Toxic’ $3bn Assets Emmanuel Addeh in Abuja A former Shell’s Legal Adviser, Madaki Ameh, yesterday weighed in on the proposed assets sale by the International Oil Company (IOC), urging prospective buyers to beware of some alleged toxic facilities being put up for sale. In a statement he titled: “Sale of Shell’s Onshore and Shallow Offshore Assets: Buyers Beware,” the ex-top Shell official explained that the company currently has several liabilities, including the N800 billion judgment against it. But one of Shell’s operating entities in Nigeria, Shell Petroleum Development Company (SPDC) had recently told the Court of Appeal, Owerri Division, Imo state, to upturn the judgement against the oil giant by a Federal High Court in the state in 2020. SPDC is appealing against the

judgement, denying the occurrence of spills on the alleged dates of the incidents before the court. SPDC argues that the court was duty bound to hear evidence to determine first if the spill occurred and the alleged cause(s) before proceeding to fix liability and compensation, which it noted didn’t happen in the case. Shell has been selling onshore and shallow water fields to Nigerian independent producers for more than a decade and is trying to find a buyer for the rest of the assets so it can focus on deep-water projects. At least five Nigerian oil and gas companies have submitted bids for the onshore oilfields in a sale that could fetch up to $3 billion, THISDAY recently reported. The company, which recently deleted “Anglo Dutch” from its name, to simply be identified as Shell, has stakes in about 19 oil

mining leases in Nigeria’s onshore oil and gas joint venture and if the judgement is upheld, it could significantly impact its efforts to sell its remaining licenses. The affected community, in Rivers state, has said that it will ask the appeals court to prevent the company from disposing of the permits while the award remains unpaid. But the former Shell lawyer and Managing Counsel, Legislative Development with SPDC, cautioned prospective investors and bidders for the onshore and shallow offshore assets belonging to the SPDC/NNPC joint venture currently on offer by the Shell Group, insisting that “they may be acquiring toxic liabilities rather than assets” Ameh, an oil and gas expert, environmental lawyer and Managing Partner, BBH Consulting, said that judging from the huge contingent liability on Shell and its parent

companies, Shell International Limited and Shell BV from the N800 billion (about $2 billion), judgment awarded against it, it would be a dead end for any company which decides to buy the assets without thorough due diligence. He recalled that given the special and general damages for what he described as the massive oil spill from its facilities in the community in January 2020, any hasty investment decision taken towards acquisition of any joint venture assets owned by SPDC at this time would be grossly counterproductive. Apart from the real risk of stepping into the shoes of Shell as judgment debtors, Ameh maintained that the technical integrity of those assets are questionable, especially if the recent experience of Aiteo from the oil spill from its Nembe facility acquired from Shell, is anything to go by. Ameh, who at different times

was also head, land acquisition and claims and head, security planning and strategy with the company before reportedly opting for voluntary early retirement in 2008 to pursue other interests, stated that the company’s practices in Nigeria, markedly differs from how it treats its hosts elsewhere. He expressed shock that the environmental practices of Shell in Nigeria are completely out of tune with the company’s practices in other parts of the globe where the company operates. The lawyer called on the board of Shell International to live up to its global posture as a fair operator and prevail on SPDC, its Nigerian subsidiary, to do justice to the impacted community. This, he stated, the IOC can do by meeting its obligations to the people, “instead of playing the ostrich through high-handed processes designed to short-change

and further impoverish the people of the Niger Delta.” He also called on the industry regulators in Nigeria to ensure the highest level of operational efficiency by multinational oil and gas companies operating in Nigeria, so that the much touted “Nigerian factor” does not further jeopardise the collective interest of host communities. If this is allowed, Ameh argued that it will not only affect the communities but also short-change the entire Nigeria, especially in a post Petroleum Industry Act (PIA) era. Justice Tijani Ringim of the Federal High Court, Owerri, Imo State, had in the judgment delivered on November 27, 2020, held that SPDC, Shell International Exploration and Production BV (SIE&P) and the NNPC were liable for oil spillage from their facility in Enugu/ Eleme local government.

NERC, FCCPC Strike Deal to Enhance Efficient Service Delivery to Electricity Consumers Emmanuel Addeh in Abuja The Nigerian Electricity Regulatory Commission (NERC) has signed a Memorandum of Understanding (MoU) with the Federal Competition and Consumer Protection Commission (FCCPC) to protect electricity consumers in the country. Chairman of the Commission, Sanusi Garba, speaking at the event in Abuja, stated that the agreement was a formalisation of processes to ensure that Nigerians get value for

money in the power sector. He noted that regulating the power sector and ensuring consumer protection was an uphill tack because of the accumulated inherited legacy problems, stressing that there was a challenge of making sure that consumers actually get quality service. Garba listed the most common complaints in the electricity sector to include issues of meter, estimated billing and lack of service, but assured that with the signing of

the MoU, concrete steps would be taken towards resolving them. “All these can be tied to the legacy issues that the industry has been battling with, and also what the reform agenda was intended to address. So the work is not done yet. “And I think the MOU we are signing today is a very important step, whereby two government agencies charged with regulating different aspects of the same Nigerian nation are coming together to collaborate in terms of synergy,

pulling our resources together,” he stated. He added that the signing of the MoU was to consolidate the area of cooperation between the two agencies in order to avoid the two regulators working against each other. “Arising from infrastructure deficit and also the challenge of the metering gap, we have a challenge of making sure that consumers actually get the service. “So, we are coming together to

make sure we find a solution. I welcome you and look forward to a productive engagement as we work over the years to ensure that consumer protection is achieved,” he noted. For his part, the Chief Executive Officer, FCCPC, Mr Babatunde Irukera, said the mutual understanding and collaboration between NERC and FCCPC in recent times had resulted in a dramatic increase in the promptness of response among players in the Nigerian

electricity market. Speaking, NERC’s ViceChairman/Commissioner, Market Competition and Rates, Musiliu Oseni, assured that Nigerians will soon experience improvements in service delivery. “Let me disclose here that in the next few weeks, the commission will be launching a customer reporting app; already it is available on apple stores for those using apple technology, and Google playstore for those using Android,” he stated.

FG, Japan to Sign $200m Power Transmission Agreement Next Month Emmanuel Addeh in Abuja The federal government through the ministry of power will in March sign a $200 million deal with the Japan International Cooperation Agency (JICA) on the implementation of transmission expansion programme. The programme is aimed at expanding the power transmission network to support the rapidly expanding industries in Lagos and

Ogun States. Speaking when he visited the Minister of Power, Mr Abubakar Aliyu, in his office in Abuja, Senior Representative, JICA, Nigeria office, Sasaki Taigo, and team lead, said their mission was to confirm the content of the loan agreement. In addition, he noted that the team was in the minister’s office to view the project memorandum of the Lagos and Ogun power

transmission system improvement work, with the relevant ministries and implementation agencies. He further said meetings with relevant authorities will commence with the aim of having the loan agreement signed in March, 2022. The transmission rehabilitation and expansion programme to be carried out by the Transmission Company of Nigeria (TCN) through the loan will be obtained from the JICA.

It is to provide about 203 kilometres high voltage transmission lines and six high voltage substations, which cover five local governments in Ogun State and one council in Lagos state with approximately 200 communities affected. The counterpart funding for compensation of Project Affected Persons (PAP), consultancy services for line route studies, environmental and social impact assessment and

environmental social management plan for the proposed JICA transmission projects in Lagos and Ogun states is reflected in the 2021/ 2022 appropriation of the ministry. In his comments, Aliyu expressed the delight of the federal government of the cooperation of the ministry and assured JICA of President Muhammadu Buhari’s resolve to ensure best practices are applied, particularly to infrastructural development in the

electricity supply industry in Nigeria. Meanwhile, Aliyu has stated that the Bureau of Public Service Reforms (BPSR) remains key to the entire governance structure of Nigeria. Speaking when he received the Director General of the BPSR, Mr. Arabi Dasuki and his team who paid him a courtesy call he chronicled the reforms in the Nigeria electricity supply industry, and assured the BPSR of cooperation.

T H I S D AY ˾ TUESDAY, FEBRUARY 15, 2022

BUSINESSWORLD

OIL & GAS

Off-spec Fuel: The Blame Game Continues... The current controversy surrounding the importation of substandard petrol, a process supervised by NNPC Limited, the sole importer, remains a source of embarrassment to Africa’s biggest oil producer. Added to that, the development has dealt a huge blow to the national oil company’s much-vaunted ‘TAPE’ agenda, a corporate policy under which the firm asked Nigerians to hold it to the highest standards of conduct, writes Emmanuel Addeh

t took a while before the authorities began to admit that there was a fundamental problem within the country’s fuel supply chain, but by the time the confirmation came, a lot of damage had already been done. First brought to mainstream media attention by THISDAY/ Arise Television, the situation has since snowballed into a national energy crisis, further compounding, confounding and indeed worsening the country’s already struggling economy. In the last few days since the controversy got into the country’s public space, it has been a long chain of buck-passing, from the sole importer (which doles out contracts under a barter arrangement), to its partners, the oil traders to the contractors themselves. In the most seemingly thoughtless of statements, head of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, easily regarded as the downstream sector’s “police”, blatantly refused to take responsibility. “Actually, I don’t want to pass blames, but I also won’t take responsibility,” Ahmed told a bewildered nation, before going on to say that a development that has clearly thrown the nation into chaos is a “ learning curve” for him.

‘TAPE’ IN TATTERS

In July 2019, at his maiden town hall meeting with the staff of the corporation at the NNPC Towers, Abuja, Group Managing Director of the NNPC, Mallam Mele Kyari presented his agenda he entitled “Roadmap to Global Excellence.” Under the roadmap, Kyari stated that NNPC’s operations under the new management would be anchored on Transparency, Accountability and Performance Excellence (TAPE). For close to three years, the NNPC has not failed to remind Nigerians that it now has a clean break from its no so enviable past, mouthing the TAPE agenda at every breathe. To throwback to that July 24, 2019 date, Kyari said that the ‘Transparency’ component of the agenda was aimed at maintaining a positive image and share the values of integrity and transparency with all stakeholders. Added to that, he noted that the ‘Accountability’ leg of the campaign would ensure compliance with business ethics, policies and regulations while ‘Performance Excellence’, would entrench a high level of efficiency anchored on efficient implementation of business processes. But with the latest happenings in the sector, that agenda, it would appear, remains currently embattled, challenged and gasping for breath. The handling of the issue, with statements from the company further confusing matters, remains largely questionable.

SEASON OF BUCK-PASSING

After days of dilly-dallying, last Tuesday, the NMDPRA finally admitted what had already attained a huge part of the country’s national conversation: the presence of bad fuel in circulation. The new agency announced that it had found methanol above national specifications in the imported products, stressing that in an attempt to withdraw the substandard petrol from circulation, there had been a disruption to the supply chain. Although THISDAY gathered that President Muhammadu Buhari had asked that the Authority’s boss should be queried, Ahmed came short of pointedly pushing the blame on NNPC’s inspectors, saying that even they (the inspectors) could not detect that there was anything wrong with the fuel. It wasn’t long before the NNPC’s head, Kyari, came

out to list those it contracted out the deal to bring in petrol into the country to. In a broadcast he did late in the night, the NNPC GMD laboured to absolve the oil company of complicity in the importation and distribution of millions of litres of off-specification fuel, which has led to long queues across the country. Disclosing that the product was imported from Antwerp in Belgium, the NNPC head ironically appeared to have unwittingly let all suspects off the hook when he stated that petrol brought into Nigeria usually does not include the test for the level of methanol content. The NNPC helmsman added that cargoes’ quality certificates issued at the loading port in Belgium, by AmSpec Belgium, indicated that the product complied with Nigerian specification. Furthermore, he maintained that the NNPC quality inspectors including GMO, SGS, GeoChem and G&G conducted tests before discharge, which showed that the cargo also met the country’s standard. “It is important to note that the usual quality inspection protocol employed in both the load port in Belgium and our discharge ports in Nigeria do not include the test for per cent of methanol content and therefore the additive was not detected by our quality inspectors,” he said. Kyari listed MRS, Emadeb/Hyde/AY Maikifi/ Brittania-U Consortium and Oando and Duke Oil, an NNPC trading arm of complicity in importing the product. “All defaulting suppliers have been put on notice for remedial actions and NNPC will work with the authority to take further necessary actions in line with subsisting regulations,” he added. But a pertinent question has been raised pertaining this last statement. Can there be a defaulter, where there is no standard for the particular substance in contention? Since the NNPC statement, there have been torrents of denials and counter-denials. All the companies accused by Kyari, bar one, Duke Oil, have denied the allegation. In separate publications, MRS, Emadeb Consortium, Brittania-U and Oando rejected the imputation by Kyari that they imported the high methanol petrol, describing it as misleading. MRS stated that it remained a responsible corporate citizen and would not be involved in the purchase, importation, distribution or marketing of substandard petroleum products in the country. “Due to the current subsidy regime, NNPC is the sole supplier of all PMS in Nigeria. Consequently, the NNPC through their trading arm, Duke Oil, supplied a cargo of PMS purchased from international trader Litasco and delivered it with Motor Tanker (MT) Nord Gainer. This vessel discharged in Apapa between the 24th and 30th of January, 2022,” the company stated. Also, Emadeb-consortium exonerated itself from having a hand in the importation of bad fuel, saying listing it among those partly responsible for the importation of the off-specification petrol by the NNPC was misleading. It pointedly told NNPC to single out Brittania-U, an initial member of the coalition, which it claimed opted out of the arrangement, instead of lumping everyone in the consortium. But in its reaction to the allegation, Brittania-U, also denied involvement in the importation of the

off-spec petrol in circulation. “Our imported products from our mother vessel, MT Torm Hilde, met all NNPC/NMDPRA product specifications, and we’re duly cleared by DPR (now NMDPRA),” it stressed. While pushing back on the allegation, Oando Plc., on its part denied any involvement, saying that its project was certified okay by the authorities. “We hereby state that Oando did not import and supply PMS that was adulterated or substandard. The PMS supplied by Oando met Nigeria’s import specification,” it argued. As the blame-shifting exercise continues, question remains: Who imported the off-spec petrol that has caused pains and embarrassment to the government and people of Nigeria? How was it possible that the firms paid by the NNPC to vet products coming into the country, failed in their duty. Will the federal government summon the courage to wield the stick anyone found to be complicit?

A HISTORY OF ADULTERATIONS

Aside the substandard diesel and kerosene processed by illegal oil refiners in the Niger Delta, which sometimes slip into the mainstream supply chain, usually in negligible quantity, no such major incident of contaminated fuel has taken place under the Buhari administration, apart from the current one. But suffice to say that Nigeria has had a handful of cases where substandard products were imported into the country in the not so distant past. Under the late Gen. Sani Abacha, in 1997, Nigeria imported foul smelling fuel, which caused serious damage to car engines and posed health challenges to many Nigerians. At the time, it was reported to have been imported into the country by Abbey Court and Glencor, but was distributed by the Petroleum Product Marketing Company (PPMC), which later expressed remorse over the incident. Eleven years later, precisely in February 2008, Oando delivered 33,000 metric tons of fuel imported from Gunvor International BV Amsterdam, a commodity trading firm in Switzerland. After several reports of damaging vehicles, Oando admitted in a press statement that the fuel was contaminated with ethanol after confirming with the supplier. Like in the current case, it slipped through the lenses of the defunct Department of Petroleum Resources (DPR) which did not test for ethanol, saying that like in the extant situation, it was not part of the specification of Nigeria grade for petrol.

AN AVOIDABLE SITUATION

Nigeria shouldn’t be boxed into this corner in the first place, if it had the refining capacity. Furthermore, the situation would probably be different if the NNPC wasn’t the country’s sole importer. Basically, the government stopped private businessmen from importing the product because it felt they could not be trusted and weren’t really transparent in their dealings. In addition, the shortage of forex in the country has ensured that dollars are only made available to the national oil company. Although in 2020,

Kyari stated that the it had nothing to gain from being the sole importer of the product and was working assiduously with the Central Bank of Nigeria (CBN) to ensure availability, nothing has changed since then. While under the Petroleum Industry Act (PIA), the NNPC has been empowered to function as a commercial entity, but the fact that it’s a sole importer will continue to impact it negatively.

WHAT IS METHANOL?

While the presence of methanol in petrol is not bad in itself, however it has to be within certain limits. “Methanol is a regular additive in petrol and is usually blended in an acceptable quantity,” the downstream sector regulator recently said, but when in excess, methanol can have damaging effects in vehicles, THISDAY learnt. It could affect components such as vehicle gaskets when the methanol content in fuel becomes higher than permitted, thereby corroding the parts. While the global average for methanol additive could be somewhere between 2 per cent to 3 per cent, the latest problematic fuel brought into the country was said to have as much as 20 per cent methanol. Experts believe that a large quantity of methanol must have been mixed in the petrol that came to Nigeria because it is cheaper, in fact being the cheapest alternative fuel in India, for instance.

CONTROL MECHANISMS FAILURE

A Petroleum Engineer, who weighed in on the matter, Bala Zaka, feels that all the three principal control mechanisms in the process of getting the quality of the imported fuel failed. “The first one is the preventive control mechanism, then the detective control mechanism and the corrective control mechanism,” he stated. Zaka noted that if preventive control mechanism was effective, it would have stopped the contamination from happening in the first place. “So, if preventive control mechanisms had been in place, the dirty fuel or adulterated fuel should have been prevented from leaving the point of loading and heading towards Nigeria. So, to that extent, at the point of prevention the preventive mechanism failed. “Between the preventive mechanism is the detective control mechanism which should have detected the wrong fuel. So, what happened was that the detective control mechanism also failed and the dirty fuel or adulterated fluid was able to get into Nigeria. “Even the corrective mechanism failed, because as an afterthought, we couldn’t prevent it from coming in. We didn’t detect it. Then when it started causing the harm, we were supposed to have corrected it, the corrective mechanism failed and that was why people started crying out,” he argued. Zaka stated that it was unfortunate that the regulatory authority and other persons concerned took more than 48 hours to give an explanation as to what happened.

WHAT NEXT?

Going by the antecedents of this government, it’s unlikely that anyone will be sanctioned for this action, or better still inaction, that has caused millions of Nigerians unbearable pain. In a few days, things will probably return to normal and Nigeria will go back to its “business as usual” mode. Will the authorities prove Nigerians wrong and mete out appropriate sanctions where necessary? That remains the million tonnes question (pun intended) waiting to be answered.

TUESDAY, FEBRUARY 15, 2022 ˾ T H I S D AY

BUSINESSWORLD

INTERVIEW

Dabiri: Lekki Port Will Reposition Nigeria as Regional Hub in Maritime Business Biodun Dabiri is a titan in the Nigerian banking & finance sector and has worked as a chartered accountant, an investment banker, a corporate finance specialist, a stockbroker, as well as a pension fund manager. As a result of his extensive experience, he is an asset to many companies where he sits on their board. He is the Lagos State Government nominated director on the Lekki Port board where he serves as chairman. He spoke to Ugo Aliogo recently on Lekki Port. Excerpts Nigerians are excited that Lekki is ﬁnally coming on stream. What impact will the Port have on the Nigerian economy when completed? efore the Board of Lekki Port was constituted, I spent some time with the original promoters of the project (Tolaram) to understand the complexities of the project especially from the financing and stakeholder management perspectives. I could see that truly, this was a unique infrastructure development endeavor, the type of which rarely succeeds in developing countries from a financing and economic contribution perspective. Being one of the single largest infrastructure investments in Nigeria with State and Federal Government equity contribution, it was clear to us that it had to be financed on a nonrecourse, project finance basis, with financing principally from the international market thus freeing both Lagos State and the Federal Governments from any addition to its foreign debt profile. We were conscious of this financing model in structuring the deal. The economic impact for Nigeria is significant with high employment potential (about 170,000 jobs will be created from port operations alone). Substantial revenues will be generated in local and foreign currency from taxes, royalties, and duties. All these, in addition to other direct and ancillary business employment and revenues, have been projected to be valued at more than $400 billion in the medium term, giving financial viability assurance throughout the 45-year concession. For Lagos State, Lekki Port is located strategically to also serve the Lekki Free Trade Zone, which is the flagship of the Lagos State Government’s industrial development initiative.

What is Lagos State Government’s shareholding in Lekki Port? Currently, Lagos State has 20 per cent. Initially, it was 18.15 per cent but given the expanded role that Lagos State was going to play in the ensuing scenario, we negotiated this amongst key promoters to 20 per cent. The Federal Government through the Nigerian Ports Authority reduced its shareholding from 20 per cent to 5 per cent while the balance is now held by international investors, Tolaram and China Harbour Engineering Company. It is pertinent to mention that Tolaram has been in Nigeria for about 40 years and promoting Lekki Port is their biggest footprint in infrastructure development. The Chairman, Mohan Vaswani, the patriarch of Tolaram must be recognized for his vision and steadfastness in the Nigerian project. China Harbour Engineering Company (CHEC) came into the picture much later but their contribution towards moving Lekki Port from the drawing board to the construction stage has been phenomenal. We had to cede significant interest to CHEC in exchange for facilitating the much-needed debt finance from China Development Bank. This move was necessary given the over 10-year funding lag that the project had suffered. In addition, CHEC themselves made a cash injection of $221 million towards their shareholding, surprisingly right in the middle of the 2020 pandemic lockdown. Apart from being a shareholder, successive Lagos State Government from Ashiwaju Bola Ahmed Tinubu, Babatunde Fashola, Akinwunmi Ambode, and now Babajide Sanwo-Olu have supported the development and growth of the project from the conception stage through to the start of construction especially during the height of the COVID-19 pandemic. I recall that Governor Sanwo-Olu personally got involved in liaising with the Federal Government and getting key approvals from the Federal Ministry of Aviation and the Nigerian Immigration Service in bringing in the Chinese technical experts as well as the new management team of Lekki Port from Beijing during the lockdown of 2020. This has no doubt kept the project timeline on course. Do you see the birth and eventual commercial operation of Lekki Port leading to an improved port system in Nigeria? Lekki Port will be a game-changer. Economic and business models have shown that it will bridge the significant gaps in our country’s marine infrastructure, especially in Lagos. The current expansion constraints on our existing port infrastructure have a somewhat invisible but significant drag on the country’s ability to expand its economy. Without mincing words, these constraints can only be dealt with properly and sustainably with technology, more contemporary thinking, and management skills if economic growth is not to be compromised. The capacity shortfall for container terminal facilities in Lagos, which was projected to be 0.8 million TEUs (Twenty-Foot Equivalent Units) in 2016 is going to increase to up to 5.5 million TEUs in 2025. This means

Dabiri that industry and commerce are slowed down to the extent of the time required to process the excess shipments. However, with the strategic location, operational flexibilities, optimized layout, and modern facilities that will be provided at the Lekki Port, a distinct competitive edge over any other port facility in the West African region will be established and hence reposition Nigeria as a regional hub in the international maritime business. Given other challenges associated with the port system in Nigeria, do you see Lekki Port navigating them to deliver a business-friendly experience to investors and other users? To provide berthing for larger vessels, which is the growing global trend in the containership sector, Lekki Port is being equipped with the best infrastructure and terminal facilities and services to attract and maintain large volume shipping line customers. Facilities at the port will include purposely designed marine infrastructure such as container, dry bulk, and liquid terminals, making it a truly multi-purpose port. In addition to this, the container terminal will be operated on a sub concession by Lekki Freeport Terminal, which are experts in managing container terminals. It is a subsidiary of CMA CGM the French global giant in maritime shipping and logistics. CMA CGM is already preparing for the commencement of operations at the Lekki Port and the objective as I understand it, is to ensure that all port users experience a world-class standard of service, which will translate to unlocking value for the investors who have supported the project through the years by standing steadfast despite the challenges due to the peculiarities of our country.

There are fears that Lekki Port may suffer the same challenges many ports in Nigeria face. What are you doing to prevent such re-occurrence, given that cargoes are usually evacuated by road? The Minister of Transportation has said that there is no plan to link the port with the rail network; how do you think this will affect the cargo evacuation? Lekki Port as conceptualized is governed by a special purpose vehicle, which has Lagos State and the Federal Government (NPA) as its shareholders. These are the two most important partners to take on this challenge of road infrastructure and His Excellency; Mr. Governor has been working hard to ensure that before the port goes into full operation, the road infrastructure will have been augmented to cope with the increased traffic. With regards to rail, the management of Lekki Port has always stressed the importance of rail connectivity for the port and in fact, President Muhammadu Buhari recently instructed that the port be connected to the railway network. During his last inspection visit to Lekki Port, I understand that the Minister of Transport stated that studies will commence to confirm the best configuration to link the port to the national railway network. I think this is an encouraging first step, which can be continued by successive administrations. How signiﬁcant is the role of technology in the commercial operation of Lekki Port? Lekki Port project has been designed and is now being constructed in line with global best practices by CHEC, which is one of the largest marine engineering contractors in the world. In

addition, we have Louis Berger as part of the WSP Group, equally one of the largest multi-disciplinary infrastructure consulting firms in the world as the project management consultant. They are responsible for contract management, design review and construction supervision thus guaranteeing efficient quality control. It is being built as a modern port with state-of-the-art equipment like Rubber Tyred Gantry cranes (RTG) which are mobile gantry cranes used in intermodal operations to stack containers and Ship to Shore (STS) cranes. The port will be equipped to handle inter-modal transportation scenarios that very few ports in Africa can handle. In-built technology to facilitate the screening and processing of shipments within 48 hours will be provided and with the highly computerized terminal operating system having a technological interface with the regulatory agencies, we expect a more efficient, seamless service to the end-user. These will be a novelty in Nigeria. The Minister of Transportation, Rotimi Amaechi was particularly concerned about the completion date when he visited the project site last year. In speciﬁc terms, tell us the completion date and how soon can we expect activity at the port? The Minister expressed such concern over 8 months ago. But he visited in January this year and was very excited at the progress. The management team led by Du Ruogang, the MD of Lekki Port has pushed hard to ensure the rapid progress of the construction work. As of the end of January, the progress of the construction was at 81% which is in line with the planned schedule and commended by the minister given the backdrop of the global pandemic. Considering where we were at the Board’s inception, we are extremely satisfied with our achievement in terms of progress and reasonably confident that we can begin to see port operations in the last quarter of 2022.

TUESDAY, FEBRUARY 15, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

AEDC Ramps Up Metering of Customers with 180,000 Devices, Launches Direct Vending Platform Emmanuel Addeh in Abuja Abuja Electricity Distribution Company (AEDC) has said that it is ramping up the metering of its customers under the Meter Asset Provider (MAP) scheme. The company had halted the MAP scheme following the launch of the National Mass Metering Programme (NMMP) by the federal government. The MAP metering programme gives customers the option of paying for a meter while the money is refunded to them through the issuance of energy credit over a period of 36 months. To get a meter under this scheme, AEDC customers are required to apply by registering on the company’s website after which a site verification is conducted, payment notification is the sent to

the customer, and finally metering of the customer’s property is executed in four steps. The company also launched an online vending platform that allows electricity customers to buy energy directly from the company’s website rather than going through third-party vendors. Chief Marketing Officer of the Company, Mr. Donald Etim, speaking at the event, said that the AEDC said the MAP scheme was in response to the efforts of AEDC to ensure that all customers are metered in line with the policy of the federal government. He added that regulated price for a single phase meter is N63,061.32 (VAT inclusive) while a three phase meter goes for N117,910.69 (VAT inclusive) The company said further that AEDC has put in place all that is required to ensure that customers

can process their application for a meter in a seamless way. “Our customers are assured of a seamless processing of their application for a meter. Customers are also assured of the fact that meters will be installed within 10 days of the receipt of their application for a meter,” he added.

On the vending platform he said: “With this platform, customers are not only assured of the elimination of extra charges such as service charge, commission and convenience fees, they are also assured of easy reconciliation of their account, 24/7 online real-time service, as well as instant value for the energy purchased from

any part of its franchise area.” Chief Technical Officer, AEDC, Oluwafemi Zacchaeus, in his intervention, explained that the relaunch of the MAP scheme was to bridge the meter demand gap after the completion of phase zero of the NMMP.

With the resumed MAPS scheme, he stated that willing customers will advance money to MAP/AEDC for the purchase of meters while they will be refunded through vending, after installation. He added that the MAPS framework will run till the commencement of the phase1 of the NMMP.

TCN Commences Full Digitisation of Old Transmission Substations Emmanuel Addeh in Abuja The Transmission Company of Nigeria (TCN) has commenced the digitisation of old transmission substations in its network, according to a statement from the organisations General Manager, Public Affairs, Ndidi Mbah. The digitisation project, she

said, is aimed at improving the automation system of old transmission substations and their connectivity with the proposed TCN system. “The scope of work for the project includes the supply, installation, configuration, testing, commissioning of Substation Automation Systems (SAS) as well

as the control and relay protection systems in the substations. “This project would further contribute to grid management and reduce system losses,” the transmission company stated. In Port-Harcourt Region alone, five substations would be digitised, Mbah said, including Afam 1, Ahoada, Yenegoa, Owerri, and

Uyo substations. A team from TCN-PMU and the General Manager ( transmission) Port-Harcourt region, formally handed the duly executed document on the digitisation project to the contractor at the Afam 1 substation, marking the beginning of the digitizatoon process for TCNs old substations.

‘NNPC’S PRE-EMPTIVE RIGHTS ON SALE OF JV ASSETS WILL “DEMARKET” NIGERIA’S HYDROCARBONS’ Specifically, the company stated that two sentences in the press release announcing the Afreximbank transaction, called for concern, namely that NNPC would be raising between $3.5 billion and $5 billion as corporate finance to fund major upstream investments and the second being the plans to take over ownership from non-investing partner through acquisition of pre-emption rights in the sample JV. According to the board, the statements appeared to confirm the speculations that the NNPC was exercising its right of pre-emption on the ongoing divestment of ExxonMobil JV assets. “If they do, we should all be worried by this proclivity of NNPC to grab and grab. For one, the Nigerian state is in dire need of investors taking

interest in any sector of its economy, ”it noted. In the ExxonMobil divestment process, the Africa Oil &Gas Report said that the preferred bidder is the dual listed Seplat Energy, Africa’s largest home-grown independent, which ran with Trident Energy, a London based explorer, backed with funding from Warburg Pincus, a leading global growth investor. The reserved bidder, it added, is a consortium involving a new Nigerian independent and a London listed explorer, Cairn Energy, who made the first commercial oil find in Senegal and has invested over $400 million in the last 12 months acquiring Shell’s brownfield assets in Egypt. “What this means is that the divestment from majors attracts the cream of global investors. NNPC just

concluded pre-empting the sale of the Chevron operated Oil Mining Leases (OMLs) 86 and 88 to Conoil Producing. “If it swoops on ExxonMobil, it will draw a pattern. It would mean that it would do the same for Shell. And what does that mean? Nationalisation? “Soon, investors around the world will mark Nigeria as a no-go area. For how do you spend over $4 million in a bidding process only to get to a pre-emption sign at the end?” it queried. Describing the recent Marginal Field Bid Round as bungled and an exercise that turned out to be the least transparent licence offering anywhere on the continent, the board stated that the last thing Nigeria needs is to be seen as a jurisdiction in which a company, from anywhere, is not

welcome to bid for assets. According to the magazine’s official position, what’s particularly noteworthy about its penchant for grabbing is that NNPC is not using them to build any capacity. It posited that NNPC will not manage the assets, adding that any excuse about “this being taken over in the interest of the state” is untrue. It added: “In the last three years, it has implemented Finance and Technical Service Agreements (FTSAs), with companies that it chooses to work the assets. Its choice of ‘partners’ for the assets it grabs points more to cronyism than the quest to help build an industrial economy. “So, NNPC takes an asset that should have gone to Conoil, a proven operator of oilfields in the last 30 years, and turns around to ‘sell’ the asset

to MRS, a far downstream player. “This time it plans to, if the speculations are confirmed, snatch victory from the jaws of Seplat, a 12-year old technically honed operator with 80,000BOPD operated production capacity and then ‘sell’ it, through an FTSA arrangement, to a company that participated in the ExxonMobil bid but lost out? “ While calling on those impacted to challenge the matters in court, the board noted that the argument that the NNPC was seeking to take advantage of the opportunity provided by the new Petroleum Industry Act (PIA) does not hold water since the national oil company is already in JVs in acreages that produce 45 per cent of the country’s crude. It continued: “It (NNPC) is also

the Concessionaire in the Production Sharing Contract (PSC) arrangements, which deliver over 39 per cent of the crude, according to the 2018 Oil and Gas Industry annual report by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). “And there is the matter of NPDC, the operating subsidiary of NNPC, which has been gifted joint venture participation in 10 Oil Mining Leases (OMLs), all of them producing.” According to the report, in 2019 alone, the Nigerian government added more to the cart and approved the transfer of OMLs 11, 24 and 98, including the operatorship of OML 116, from Federation’s interest (NNPC) to NPDC which is also the sole stakeholder in three producing OMLs and two non-producing ones.

TUESDAY, ͹ͽ˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

COVID-19: Nigeria May Not Meet March Vaccination Target, Stakeholders Say Onyebuchi Ezigbo in Abuja Nigeria's expectation to vaccinate at least 50 per cent of her eligible population against the COVID-19 virus by the end of March this year may not be realised, some stakeholders have said. The fears were expressed by stakeholders during an assessment meeting on the progress and challenges facing COVID-19 vaccination exercise in the northern states, organised by the Centre for Information Technology and Development (CITAD) in Abuja. As at February 12, 2022, the National Primary HealthCare Development Agency (NPHCDA) disclosed that 16,386,339 persons had gotten their first dose of the vaccine in the country, while 6,878,770 had received their second dose. Factors such as vaccine hesitancy, poor leadership role by some state Chief executives and rising insecurity were listed as some of the things limiting the progress of the vaccination exercise. At the meeting which had Commissioners of Health in all the northern states of Nigeria and heads of relevant agencies in attendance, participants presented their success cards as well as x-rayed the challenges and strategies to surmount them. The meeting was meant to share experiences on covid19 vaccination exercise in the states and explore ways of improving the vaccine uptake. Speaking to THISDAY on his assessment of the vaccination exercise, the Deputy Director, Macarthur Foundation in Nigeria, one of the development partners, Dayo Olaide said whereas the campaign was proceeding well, the patronage was still very low. He said a lot factors were responsible for the differences in success rate recorded by the states. "From the experiences shared here by the states, there are a couple of things that you can point to that is working well. In states where the leadership has shown commitment, we can see that just by the symbolic of the state

governors, members of the cabinet and the legislature by coming out publicly to take the vaccine, has sent the right signals to the citizens and think that has made a lot of differences in these states. "Similarly, we also found out that having a multi-stakeholder approach that is inclusive and involves traditional rulers, women organisations and members of the civil society groups, that has also enabled the vaccine drive to function well," he said. However, Olaide noted that even when the vaccine roll out was said to be proceeding well, the patronage was still very low. According to him, the need to improve on the speed of vaccination was what the stakeholders meeting intended to achieve. "For now, hesitancy remained a major challenge. We heard some states say that some of them have difficulties in accessing or getting enough vaccine but a significant number actually said there is enough vaccines in their states. “The NPHCDA has been quite innovative, going round the states to mop up vaccine doses and to make them available to those states that need them,” he added. He also noted that there has been an effective synergy between the NPHCDA and state primary healthcare boards as other ministries and agencies in the health sector. “But there is hesitancy among health workers, hesitancy among the public and some form of hesitancy among the leadership are perhaps the biggest stumbling blocks to this vaccination campaign,” he added. On whether he thinks that March target date set by federal government for the achievement of 70 percent vaccination of eligible population could be attained, he said: "Going by the figures that those states are rolling out, because it's going to be a totality of figures from these states that will tell us whether or not the target would be met. If we are hearing 12 per cent and 16 per cent in some states and some states recording about four per cent, I think the gap is quite huge.

“We are still a long way ahead and a lot more will have to be done between now and next month, March, for that high target that the government set to realise." Olaide said a lot of inefficiencies would have to be addressed, in addition to using available data to plan ahead. The Director Disease Control in Kaduna state, Hamza Ibrahim, while giving the situation report of the vaccination exercise in the state said the campaign had gone far despite initial challenges. “We are doing well because all the strategic machineries have been deployed, all the relevant agencies were also deployed to carry out the exercise. We have taken the vaccination campaign to the motor parks and religious worship centres using mobile vaccination teams. “Also all the local council chairmen have taken the lead in having themselves and their families vaccinated,” he added. Zamfara State Commissioner for Health, Aliyu Abubakar said despite security challenges confronting the state, it has been able to record an impressive performance in the vaccination campaign. He explained: "About 272,815 persons have vaccinated first dose while 72,321 persons have taken their second dose of the vaccines." He also said 16,170 persons have been given booster jabs. He further said the state had set a target to vaccinate a total of 2,216,000 persons by the end March this year. Abubakar attributed the high success rate recorded by the state to the exemplary leadership shown by the governor of the state and other top government functionaries. Organisers of the assessment meeting, described it as very successful, adding that it had enabled commissioners to compare notes to seek strategies to further improve on the vaccination drive. He said apart from regular assessment meetings, the organisation also holds training programmes for health workers within the northern states to help improve healthcare services.

ASUU ADAMANT, DECLARES ONE-MONTH WARNING STRIKE, FG SAYS ACTION ILLEGAL mediatory talks brokered by the Nigerian Inter Religious Council (NIREC) co-chaired by the Sultan Sa’ad Abubakar and President of the Christian Association of Nigeria, (CAN) Rev. Samson Ayokunle. Ngige said: "Proactively, we have been working with NIREC Nigeria Interreligious Council NIREC co-chaired by the Sultan Sa’ad Abubakar and Ayekunle, President of the Christian Association of Nigeria, CAN. "They have held two meetings with ASUU and in labour administration and labour parlance, it is allowed, it is called tripartite plus, so as the conciliator, the President has directed me with the Minister of Education and Chief of Staff to liaise with NIREC and so we are in communication with the NIREC secretariat and the Sultan himself who was attending to other issues over the week, but they have held two meetings with ASUU and which they told them to give them a chance to look into the matter fully and I have equally briefed them on the situation of things where the government group is. "So, I don’t know how ASUU has now declared a strike and call it a warning strike, there is nothing like a warning strike". The minister who said his office was yet to be officially communicated to by ASUU on their warning strike, insisted that federal government had done its own part with regard to the agreement with the university lecturers. "I was in touch with the Minister of Education last night (Sunday), they are putting up government group meeting today in their place to look at the renegotiation of the 2009 agreement which is actually

as you will call it a renegotiation of condition of service their salaries and packages and welfare renegotiation that's what they mean but 2009 agreements that is main thing, every other thing there is ancillary," he said. Ngige also exonerated government from blame on the issue of the non-approval of UTAS, saying it was the Nigeria Information Technology Development Agency (NITDA) that has authority and expertise to do so. "I wrote to ASUU conveying NITDA's report and forwarded to the Ministry of Education, forwarded to the National Universities Commission, forwarded to the Ministry of Finance, the Accountant General Office because these are the people they work with on UTAS and they have been working with them and all the tests and everything is being conducted with them. "The hard wares will be deposited and housed at the National University Commission. So they have been meeting, they have been working on it. But they said no, that they want their own to be put into place immediately and that if there is any lapses, correction will be done but NIDA says it doesn’t work that way. “You can’t accuse the government to have not done its own bit, government said it is going to use it, it is home grown, we like home grown things. "I in particular like home grown things in the Ministry of Labour, I like the Order 3 and Order 5 of the Presidential Order to be obeyed and save foreign exchange for the country. So that one is there, they are now jettisoning it," he said. Ngige also explained that the

amendment to bill on private universities had been sent it to the National Assembly. “Education is on Concurrent List, so you cannot go and gag state governments from establishing universities but you can go to the NUC Act and make the establishment of universities very stringent. So that is what is happening,” he explained. When asked the way out of the logjam, Ngige said: " They (ASUU) have to call off this their leave. They gave themselves leave by force, that is what they did, illegal leave." Also, the Director of Information and Publicity in the Ministry of Education, Mr. Ben Bem Goong, said the ministry was not aware of the purported strike by ASUU. In a phone chat with THISDAY, the director said there are procedures that must be followed before employees go on strike. These, he said were not adhered to by the academic union. He said the ministry had received several calls and visitors asking for clarification on the industrial action. "I have been in the office with the minister since morning and we are still in the office and I can assure you that till this moment, no one has informed us of any strike action. My answer to you is that the ministry is not informed and we do not know that ASUU has embarked on any strike. "There are processes and procedures that must be followed before ASUU can go on strike. They are supposed to write to the ministry and notify the minister that they are embarking on strike. But as I speak to you, there has been nothing like that and we are yet to receive any letter from them,” he added.

TUESDAY, ͹ͽ˜ ͺ͸ͺͺ ˾ T H I S D AY

Tuesday, February 15, 2022

dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ĚĞĐůŝŶĞĚ ϲϭďƉƐ dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ĨĞůů ďǇ ϭϰďƉƐ dŚĞ dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ĚĞĐůŝŶĞĚ ďǇ ϭϰďƉƐ ƚŽ ƐĞƩůĞ dŚĞ dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ĚĞĐůŝŶĞĚ ϲϭďƉƐ ƚŽ ƉƌŝŶƚ

THISDAY AFRINVEST 40 INDEX

Ăƚ ϭ͕ϲϳϰ͘ϴϵ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ƐĞůůͲƉƌĞƐƐƵƌĞ ŽŶ E/d, ;ͲϬ͘ϲйͿ͕ Ăƚ ϭ͕ϵϮϮ͘ϰϮ ƉŽŝŶƚƐ ŽŶ ĂĐĐŽƵŶƚ ŽĨ ƐĞůů ƉƌĞƐƐƵƌĞ ŽŶ /ZͲ t W K ;Ͳϭ͘ϳйͿ͕ ;Ͳϭ͘ϯйͿ͕ 'd K ĂŶĚ h ;ͲϬ͘ϳйͿ͘ ĂŶĚ dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂͲ d > & ;ͲϬ͘ϴйͿ͕ t W K ;ͲϬ͘ϵйͿ͘

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ƟǀĞůǇ ĂĐĐŽƵŶƚ ĨŽƌ ϭϯ͘Ϯй͘

dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂƟǀĞůǇ ĂĐĐŽƵŶƚ ĨŽƌ ϰϳ͘ϲй ŽĨ ƚŚĞ Ticker

ŝŶĚĞǆ͘

^/ ƵƉ ϭϭďƉƐ ĂƐ E' D 'ĂŝŶƐ ϯ͘ϯй

THISDAY AFRINVEST 40

ƌŽƐĞ

ďǇ

ŽŶ /Zd > & ;Ͳϭ͘ϳйͿ͕ h &KK ^ ;Ͳϭ͘ϱйͿ͕ ĂŶĚ 'd K ;Ͳ ϭϭďƉƐ ƚŽ ϯϵ͕ϱϱϬ͘ϯϲ ƉŽŝŶƚƐ͘ ŽŶƐĞƋƵĞŶƚůǇ͕ zd ůŽƐƐ ŝŵͲ

Ϭ͘ϴйͿ͕ ŚĞŶĐĞ ƉƵůůŝŶŐ ƚŚĞ E'yͲ ^/ ĚŽǁŶ Ϭ͘ϯй ƚŽ ĐůŽƐĞ ƉƌŽǀĞĚ ƚŽ Ͳϭ͘ϴй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ ďǇ

Ăƚ ϰϳ͕Ϭϲϲ͘ϳϳ ƉŽŝŶƚƐ͘ Ɛ ƐƵĐŚ͕ zd ƌĞƚƵƌŶ ĚĞĐůŝŶĞĚ ƚŽ േϮϯ͘ϰďŶ ƚŽ േϮϬ͘ϲƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚǇ ǁĂƐ ŵŝǆĞĚ ĂƐ ǀŽůƵŵĞ

ϭϬ͘Ϯй ĨƌŽŵ ϭϬ͘ϱй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƐůŝĚ ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ďǇ Ϯϭ͘ϲй ƚŽ ϭϭϬ͘ϴŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ

േϳϯ͘ϬďŶ ƚŽ േϮϱ͘ϰƚŶ͘ sŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ƌŽƐĞ ƚƌĂĚĞĚ ƌŽƐĞ ďǇ ϴϴ͘ϱй ƚŽ േϯ͘ϭďŶ͘ dŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ

ϴ͘ϱй ĂŶĚ Ϯϵ͘ϰй ƌĞƐƉĞĐƟǀĞůǇ ƚŽ ϯϯϴ͘Ϭŵ ƵŶŝƚƐ ďǇ ǀŽůƵŵĞ ǁĞƌĞ dZ E^ KZW ;ϭϭ͘ϵŵ ƵŶŝƚƐͿ͕ & E, ;ϭϭ͘ϭŵ ĂŶĚ േϱ͘ϳďŶ͘ ƵŶŝƚƐͿ͕ ĂŶĚ K E K ;ϳ͘ϯŵ ƵŶŝƚƐͿ ǁŚŝůĞ E ^d> ;േϮ͘ϮďŶͿ͕

5 Zenith Bank PLC 6 Dangote Cement PLC 7 Nestle Nigeria PLC

ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůǇ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŽĮƚͲƚĂŬŝŶŐ ŝŶ E ^d> ;Ͳ

;нϯ͘ϲйͿ͕ E/d, ;нϬ͘ϲйͿ͕ ĂŶĚ & D ;нϮ͘ϭйͿ͘ KŶ ƚŚĞ hE/> s Z

;Ͳϯ͘ϱйͿ͕

>/E< ^^hZ

;Ͳϲ͘ϰйͿ͕

ŽƚŚĞƌ ŚĂŶĚ͕ ƚŚĞ &ZͲ/ d ĂŶĚ Kŝů Θ 'ĂƐ ŝŶĚŝĐĞƐ ĨĞůů ĂŶĚ D E^ Z ;ͲϮ͘ϮйͿ͘ ^ŝŵŝůĂƌůǇ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ĂŶŬͲ

ϳϴďƉƐ ĂŶĚ ϮϰďƉƐ ƌĞƐƉĞĐƟǀĞůǇ ĨŽůůŽǁŝŶŐ ƉƌŝĐĞ ĚĞĐůŝŶĞ ŝŶŐ ŝŶĚŝĐĞƐ ĨĞůů ďǇ Ϭ͘Ϯй ĂŶĚ ϮďƉƐ ƌĞƐƉĞĐƟǀĞůǇ ĚƵĞ ƚŽ ƐĞůůͲ

ŝŶ /Zd > & ;Ͳϭ͘ϳйͿ ĂŶĚ K E K ;Ͳϭ͘ϲйͿ͘ ůƐŽ͕ ƐĞůůͲ ŽīƐ ŝŶ K E K ;ͲϬ͘ϴйͿ͕ E/d, ;ͲϬ͘ϮйͿ͕ ĂŶĚ 'd K ;ͲϬ͘ϮйͿ͘

ƟŽŶ ŝŶ E' D ;нϯ͘ϯйͿ͘ ƚƌŝĂů 'ŽŽĚƐ ŝŶĚŝĐĞƐ ĚŽǁŶ ďǇ ϭϲďƉƐ ĂŶĚ ϳďƉƐ ƌĞƐƉĞĐͲ

30.9%

15.0%

3.5%

5.5x

0.8x

5.2%

198.50

0.3%

7.8%

0.8%

134.7%

14.1%

13.5x

20.9x

70.75

0.0%

6.8%

5.5%

19.1%

11.2%

34.0x

6.4x

26.40

-0.8%

6.3%

1.5%

24.8%

3.9%

4.0x

5.3%

7.4%

1.0x

11.3%

25.0% 27.3%

2.9%

27.05

0.6%

6.0%

7.6%

20.9%

2.8%

3.7x

0.7x

11.3%

274.80

0.0%

4.4%

6.9%

40.4%

16.7%

13.7x

5.3x

5.9%

7.3%

1,435.00

0.0%

3.1%

-7.8%

106.8%

15.6%

27.8x

32.8x

4.2%

3.6%

-1.8%

8.4%

0.8%

6.6x

0.5x

4.0%

15.1%

10.6%

11.6%

8.4%

9.9x

1.1x

3.8%

10.1%

10 Access Bank PLC 11 United Bank for Africa PLC 12 Stanbic IBTC Holdings PLC

10.40

-1.0%

2.8%

11.8%

17.0%

1.4%

2.9x

0.5x

8.1%

34.3%

8.70

0.0%

2.2%

8.1%

19.5%

1.8%

2.2x

0.4x

6.3%

45.7%

13 Nigerian Brew eries PLC 14 SEPLAT Energy PLC 15 Ecobank Transnational Inc 16 International Brew eries PLC 17 Okomu Oil Palm PLC 18 Flour Mills of Nigeria PLC

26 NEM Insurance PLC 27 Presco PLC 28 NASCON Allied Industries PLC 29 AIICO Insurance PLC 30 TotalEnergies Marketing Nigeri 31 Custodian and Allied Insurance 32 Vitafoam Nigeria PLC 33 Unilever Nigeria PLC 34 Julius Berger Nigeria PLC 35 Union Bank of Nigeria PLC 36 Oando PLC 37 Wema Bank PLC 38 Sterling Bank PLC 39 Notore Chemical Industries Ltd 40 Transcorp Hotels Plc

34.55

0.0%

1.5%

-4.0%

15.1%

2.1%

7.8x

1.2x

11.9%

12.9%

47.80

-0.3%

1.4%

-4.4%

5.3%

1.9%

44.1x

2.3x

2.3%

850.00

0.0%

2.0%

30.8%

3.4%

1.9%

19.4x

0.7x

4.8%

12.50

0.0%

1.8%

43.7%

2.9x

5.25

1.0%

1.1%

6.1%

-10.3%

-3.9%

127.80

0.0%

0.9%

-10.0%

36.5%

23.3%

8.7x

2.9x

33.45

3.6%

1.1%

18.0%

15.9%

4.5%

5.1x

0.8x

1.0x

-10.8% 11.5% 4.9%

2.95

0.7%

15.7%

13.3%

1.3%

2.2x

0.3x

7.5%

44.6%

-4.0%

0.6%

3.4%

9.3%

3.0%

7.4x

0.7x

9.2%

13.5%

17.90

1.7%

0.5%

2.9%

15.3%

6.3%

11.7x

1.8x

8.4%

8.5%

2.98

2.1%

0.4%

-0.3%

10.3%

1.1%

0.2x

5.0%

11.05

0.5%

0.4%

11.6%

2.5x

6.3%

66.55

10.0%

0.6%

70.6%

13.3%

6.0%

14.0x

1.7x

0.7%

7.1%

1.17

0.9%

0.4%

21.9%

11.1%

2.3%

6.2x

0.7x

0.9%

16.1%

3.59

8.1%

0.2%

-20.2%

35.6%

18.5%

5.6x

0.9x

5.1%

17.9%

104.00

0.0%

0.3%

18.5%

2.2x

1.0%

13.25

0.0%

0.3%

0.4%

21.3%

6.9%

12.5x

2.5x

2.9%

8.0%

0.68

-2.9%

0.2%

-2.9%

7.2%

1.1%

377.8x

0.7x

264.90

0.0%

0.3%

19.4%

48.0%

9.5%

5.4x

2.2x

1.5%

18.6%

0.3%

7.45

-5.7%

0.2%

-5.7%

19.5%

5.5%

4.4x

0.8x

7.4%

22.8%

22.95

0.0%

0.2%

2.0%

38.7%

16.0%

5.9x

2.1x

6.5%

17.0%

13.95

6.1%

0.2%

-3.8%

7.8%

4.9%

30.9x

1.2x

26.50

0.0%

0.2%

18.6%

18.9%

2.4%

4.0x

0.8x

1.5%

25.0%

4.1%

6.05

0.0%

0.1%

2.5%

7.1%

0.8%

6.8x

0.7x

4.92

-1.6%

0.0%

11.3%

14.5%

2.6%

2.1x

0.3x

3.2%

0.87

0.0%

0.1%

20.8%

14.1%

0.8%

3.8x

0.5x

4.7%

1.71

-1.2%

0.1%

13.2%

9.4%

0.9%

2.2x

0.4x

2.9%

62.50

0.0%

0.1%

0.0%

-28.3%

-6.1%

5.38

0.0%

2.4x

T ic k er

P ric e

P ric e C hg %

GUIN N ESS

0.9x

T ic k er

Vo lum e

P ric e C hg %

F ID ELIT YB K

35.8

0.7%

10.0%

A C C ESS

33.9

-1.0%

LEA R N A F R C A

1.65

10.0%

T R A N SC OR P

32.9

0.9%

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ

UP L

2.91

9.8%

ST ER LN B A N K

24.5

-1.2%

A C A D EM Y

1.49

9.6%

GT C O

23.2

-0.8%

/ŶǀĞƐƚŽƌƐ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ KƵƚůŽŽŬ

P H A R M D EKO

1.80

9.1%

Z EN IT H B A N K

20.0

0.6%

N EM

3.59

8.1%

R T B R ISC OE

19.3

7.7%

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ͕

R T B R ISC OE

0.42

7.7%

UB A

14.8

0.0%

ĨƌŽŵ ϭ͘ϯǆ ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ůĂƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ Ϯϰ ƐƚŽĐŬƐ

C H A M P ION

2.27

7.6%

FB NH

11.9

0.0%

IKEJ A H OT EL

1.52

7.0%

H ON YF LOUR

8.7

-4.3%

ŐĂŝŶƐ ĂƐ ŝŶǀĞƐƚŽƌƐ ŚƵŶƚ ĨŽƌ ďĂƌŐĂŝŶƐ ŝŶ ƐƚŽĐŬƐ ǁŝƚŚ ǁŚŝůĞ dZ E^ ;Ͳϴ͘ϯйͿ͕ > ^ K ;Ͳϲ͘ϳйͿ͕ ĂŶĚ >/s Ͳ

ƐŽƵŶĚ ĨƵŶĚĂŵĞŶƚĂůƐ͘ ^dK < ;Ͳϰ͘ϴйͿ ůĞĚ ůŽƐĞƌƐ͘ WƌĞǀŝŽƵƐ ĚĂǇ͕ ǁĞ ĞǆƉĞĐƚ ƚŚĞ ŵĂƌŬĞƚ ƐĞŶƟŵĞŶƚ ƚŽ ƌĞŵĂŝŶ ŵŝǆĞĚ͕ ĂƐ ĞĂƌŶŝŶŐƐ ƐĞĂƐŽŶ ŐƌĂĚƵĂůůǇ ǁŝŶĚƐ ƵƉ͘

T ic k er J A P A ULGOLD C OUR T VILLE

P ric e 0.36

P ric e C hg % -7.7%

0.51

-7.3%

C UST OD IA N

7.45

-5.7%

N GXGR OUP

25.00

-5.7%

NP FM CRFB K N EIM ET H M ULT IVER SE VER IT A SKA P

Afrinvest West Africa Limited

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

< Z ;нϵ͘ϴйͿ͕ ĂŶĚ ,KEz&>KhZ ;нϵ͘ϴйͿ ůĞĚ ŐĂŝŶĞƌƐ

2.08

-5.5%

1.81

-5.2%

0.20

-4.8%

0.21

-4.5%

UP D C

1.06

-4.5%

H ON YF LOUR

3.35

-4.3%

Brokerage

T ic k er

Value

P ric e C hg %

M TNN

1672.5

0.3%

A IR T ELA F R I

647.0

-1.7%

GT C O

613.4

-0.8%

Z EN IT H B A N K

532.0

0.6%

A C C ESS

353.7

-1.0%

D A N GC EM

221.1

0.0%

N GXGR OUP

154.5

-5.7%

FB NH

133.1

0.0%

UB A

129.2

0.0%

GUIN N ESS

115.7

10.0%

Asset Management

Investment Research

Adedoyin Allen | aallen@afrinvest.com Robert Omotunde | romotunde@afrinvest.com Abiodun Keripe | AKeripe@afrinvest.com Taiwo Ogundipe | togundipe@afrinvest.com

44.8% -13.8%

10.0%

ĂĚǀĂŶĐĞĚ ǁŚŝůĞ ϭϱ ƐƚŽĐŬƐ ĚĞĐůŝŶĞĚ͘ DZ^ ;нϵ͘ϵйͿ͕ D zͲ

26.4%

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

T o p 10 G a i n e r s

ǁŚŝůĞ ϲϬ ǁĞƌĞ ƵŶĐŚĂŶŐĞĚ͘ dŽŵŽƌƌŽǁ͕ ǁĞ ĞǆƉĞĐƚ ŵŝůĚ

14.7% 47.2%

3.63

ǁĂƐ ŇĂƚ ;ƉƌĞǀŝŽƵƐůǇ Ϭ͘ϬϰǆͿ ĂƐ Ϯϯ ƐƚŽĐŬƐ ŐĂŝŶĞĚ͕ Ϯϯ ůŽƐƚ

19.5%

2.40

66.55

;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ƐƚƌĞŶŐƚŚĞŶĞĚ͕ ƐĞƩůŝŶŐ Ăƚ ϭ͘ϲǆ

5.2% 35.0%

NCR

ƟǀĞůǇ͘

16.5%

1.5%

3.4%

ƉƌĞƐƐƵƌĞ ŽŶ h^dK / E ;Ͳϱ͘ϳйͿ͕ D E^ Z ;Ͳϰ͘ϬйͿ͕ ŽŶǀĞƌƐĞůǇ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞǆ ǁĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶͲ ĂŶĚ ;ͲϬ͘ϵйͿ ƉƵůůĞĚ /ŶĚƵƐͲ Ğƌ͕ t W K ƵƉ ϭ͘ϴй ĚƌŝǀĞŶ ƚŚĞ ďǇ /ŶƐƵƌĂŶĐĞ ƉƌŝĐĞ ĂŶĚ ĂƉƉƌĞĐŝĂͲ

92.2%

30.9%

3.1%

ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ WĞƌĨŽƌŵĂŶĐĞ ĐƌŽƐƐ ŽƵƌ ĐŽǀĞƌĂŐĞ ƐĞĐƚŽƌƐ͕ ƉĞƌĨŽƌͲ

Ğƌ 'ŽŽĚƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ͕ ĚŽǁŶ ϰ͘ϲй ĂŶĚ

3.7%

Divindend Earnings Yield Yield

P/BV

0.0%

24 Guinness Nigeria PLC 25 Transnational Corp of Nigeria

ďƵǇŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ 'h/EE ^^ ;нϭϬ͘ϬйͿ͕ &>KhZD/>>

37.9%

P/E

-0.9%

ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

ŝŶĚĞǆ ƌĞŵĂŝŶĞĚ ŇĂƚ͘ dŽƉƉŝŶŐ ƚŚĞ ůĂŐŐĂƌĚƐ ĂƌĞ ƚŚĞ ŽŶƐƵŵͲ ƚǁŽ ŐĂŝŶĞƌƐ͕ ƵƉ ϭ͘ϭй ĂŶĚ ϰďƉƐ ƌĞƐƉĞĐƟǀĞůǇ ĚƵĞ ƚŽ

-1.7%

ROA

26.50

22 FCMB Group Plc 23 United Capital PLC

ďĞĂƌŝƐŚ ĂƐ ϰ ŝŶĚŝĐĞƐ ůŽƐƚ͕ ϭ ŝŶĚĞǆ ŐĂŝŶĞĚ ǁŚŝůĞ ƚŚĞ &ZͲ/ d dŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ĂŶĚ ĂŶŬŝŶŐ ŝŶĚŝĐĞƐ ǁĞƌĞ ƚŚĞ

-0.61%

ROE

11.20

E' D ;േϭϰϱ͘ϬŵͿ͕ ĂŶĚ 'd K ;േϭϯϰ͘ϴŵͿ ůĞĚ ďǇ ǀĂůƵĞ͘

ĐƌŽƐƐ ǁĂƐ ƐĞĐƚŽƌƐ ƵŶĚĞƌ ĂƐ ŽƵƌ ĐŽǀĞƌĂŐĞ͕ ǁĂƐ ŵĂŶĐĞ ďĞĂƌŝƐŚ ϰ ŝŶĚŝĐĞƐ ůŽƐƚ ƉĞƌĨŽƌŵĂŶĐĞ ǁŚŝůĞ Ϯ ŐĂŝŶĞĚ͘

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

8 FBN Holdings Plc 9 Lafarge Africa PLC

19 Fidelity Bank PLC 20 AXA Mansard Insurance PLC 21 Dangote Sugar Refinery PLC

ϵ͘ϭйͿ͕

1,250.00

3 BUA Cement Plc 4 Guaranty Trust Holding Co PLC

ƐƚĞƌĞĚ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽŶ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĂƐ ƚŚĞ ůůͲ zĞƐƚĞƌĚĂǇ͕ ďĞĂƌƐ ĞĚŐĞĚ ďƵůůƐ ĨŽůůŽǁŝŶŐ ƐĞůů ƉƌĞƐƐƵƌĞ ŝŶĚĞǆ

1922.42

1 Airtel Africa PLC 2 MTN Nigeria Communications PLC

WƌĞǀŝŽƵƐ ĚĂǇ͕ ƉƌŝĐĞ ƵƉƟĐŬ ŝŶ ,KEz&>KhZ ŽŵĞƐƟĐ ŽƵƌƐĞ ǆƚĞŶĚƐ ĞĂƌŝƐŚ DŽŵĞŶƚƵŵ͘͘͘ ^/ ;нϵ͘ϴйͿ͕ E' D ;нϯ͘ϯйͿ͕ ĂŶĚ & E, ;нϬ͘ϳйͿ ďŽůͲ ĚŽǁŶ Ϭ͘ϯй

^ŚĂƌĞ

Current Price

Christopher Omoh | comoh@afrinvest.com

Damilare Asimiyu| dasimiyu@afrinvest.com

T H I S D AY ˾ ˜ ͯͳ, 2022

BUSINESS/MONEYGUIDE

Galaxy Backbone Restores Service Outage, Assures Customers of Quality Service Emma Okonji Galaxy Backbone, the government agency hosting data services to most government agencies and providing connecting services to both the private and public sectors, has said it has resolve its service outage, which crippled connectivity services for over one week. As a result of the service outage, telecoms subscribers experienced difficulties in carrying out NIN verification process, which also affected network connectivity and data hosting services across the country. Galaxy Backbone had apologised to its customers for the service outage, and had equally promised to address the issue without delay. In a statement issued at the weekend and signed by its Head,

Corporate Communications, Mr. Chidi Okpala, the government agency said: “Galaxy Backbone (GBB) is pleased to report that the outage experienced by some of our customers earlier reported has now been completely resolved. The Managing Director and Chief Executive of Galaxy Backbone, Professor Muhammad Bello Abubakar and the entire management thank all our customers for standing by us and believing in our ability and competence to get this resolved. We are proud of the doggedness and dedication of all the engineers and application experts who worked round the clock since this issue occurred and never gave up until this was fully resolved. We also thank well-meaning Nigerians and our stakeholders who believed in our ability to get this resolved. We thank the Honourable Minister

of Communications and Digital Economy, Dr. Isa Ali Ibrahim Pantami, whose guidance, intervention and support during this period has been unwavering. “The Management of GBB would like to reiterate that the temporary outage experienced by our customers had nothing to do with any form of security breach on our Infrastructure as earlier stated on some platforms. The security of data of our customers and stakeholders is extremely paramount to us and we maintain the highest level of international standards, equipment and policies in ensuring data is kept secure at all times. During the period of this temporary outage, the organization has worked closely with its customers and all communication shared has been consistent at all levels with no contradictions.”

Heirs Life Introduces Annuity Campaign Specialist digital life insurance company, Heirs Life Assurance (HLA) has rolled out an awareness campaign for its pension-regulated Annuity Plan, promising retirees a steady income for as long as they live. The premise of the plan, the company said in a statement, is for people to retire without financial worries as the plan pays policyholders a guaranteed pension for life. According to the Managing Director, Niyi Onifade, these partnerships are testament to the confidence regulators and other partners have in the company’s capacity to fulfil its promises and its consistent delivery of service

excellence. In his words, “Last year, Lagos State Government announced Heirs Life as one of the few life insurance companies providing Annuity plan to its pensioners, demonstrating the government’s confidence in the company, which only launched last year. Since then, the company has partnered with several organisations to provide the Annuity plan to their employees. “Pensioners have every reason to live life confidently as the Annuity Plan takes care of the worries of retirement, specifically, the uncertainty of the future. We are delighted to provide Annuity to pensioners

in Nigeria. We consider this as a big win because it is an indication that our customers, regulators, and government agencies are confident in our promise of service excellence. At Heirs Life, we continue to address the specific needs of different audience segments in line with our mission to make insurance accessible to everyone.” Speaking on the campaign, the Chief Marketing Officer, Ifesinachi Okpagu, identified awareness as an important step to get more retirees signed onto this beneficial plan. “Everyone needs to understand the options open to them as they build their retirement plan.

LG Launches New Products that Combine Art and Technology Dike Onwuamaeze LG Electronics has assured that it would continue to offer Nigerians electronics that integrate technology and art elements to create a new experience that would make life more pleasurable. The assurance was given by the General Manager, Home Appliances Division at LG Electronics West Africa, Mr. Jiung

Park, who said that “consumers today deserve to live simpler, more fulfilling lives, and that’s what drives us at LG to innovate every day. We are committed to finding ways to improve life, despite the challenges we all encounter on a daily basis.” Park said last weekend that the LG utilised the recent Consumer Electronics Show (CES) 2022 to unveil varieties of technologies aimed at making

life more pleasurable, less challenging, and more convenient on a daily basis. He said that the products unveiled during the CES included LG’s OLED Evo C2 Series, PuriCare AeroTower, DualUp Monitor, Soundbar S95QR, and Washer and Dryer Pair, which “are among the lifeenhancing items featured in the new thematic campaign tagged “The Better Life You Deserve.”

Purple Makes Board Changes Purple has announced changes on its Board. This follows the retirement of Mr. Olutola Mobolurin as Chairman and Independent Director on the Board of Purple. Mr. Mobolurin served on the Board of Purple for 9 years helping it grow from a start-up to a group of companies with total assets of N25 billion and paving the way for its 2022 strategic plan to grow total assets to N75 billion in the near term. Mr. Mobolurin will continue as Advisor to the Board of Purple, as it takes necessary steps to grow its total assets. The Board of Purple has ap-

pointed Mrs. Jumoke Akinwunmi as Acting Chairman effective 1st, January 2022, continuing in her role as an Independent Director. Mrs. Olajumoke Akinwunmi has over 25 years of experience in the real estate sector as an architect, investment, and development manager. She is co-founder of Alitheia Capital Limited, a Nigeria-based investment advisory and management firm. In addition, Mrs Fiona Ahimie has also been appointed to the Board of Purple. Fiona Ahimie is the current Managing Director of FBNQuest Securities Limited,

a subsidiary of FBNQuest Merchant Bank, a subsidiary of First Bank of Nigeria Holding PLC. Before this role she was the Managing Director of African Alliance Limited a South African Investment banking firm. She has worked with Lead Capital and Stanbic IBTC Bank in varying capacities. On her part, Ms. Seyi Sowale served as the Group Chief Financial Officer and Chief Operating Officer of Purple. She remains on the Board of Purple and has now been reassigned as Executive Director Finance, Strategy and Commercials.

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

‘Our Auctioning Platform is Aimed at Redistributing Wealth’ Ugo Aliogo The Chief Executive Officer, Just Automobile and Merchanting Limited, Sola Adesanya, has stated that its auctioning platform Gavel Up is aimed at redistributing wealth in the society by turning waste to wealth and exchange goods through sales

of used items such as electrical appliances, household items, used vehicles and others. Adesanya, who disclosed this recently in Lagos during a media briefing, said the online platform provides an opportunity for people to reuse every discarded commodities, while creating wealth and providing

employment. He also noted that the organisation has offices in Lagos and Ogun States, stating that they are working to expand their services to Eastern and Southern parts of the country, “we are in the process of registering our company in Botswana, South Africa and some other African countries with the possibility of expansion.”

OPEC DAILY BASKET PRICE ˜ ͵

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zaﬁro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

T H I S D AY ˾ ˜ ͯͳ˜ ͰͮͰͰ

Stock Market Begins Week With Profit-taking in Airtel, BUA Foods Kayode Tokede Trading activities in the Nigerian Exchange Limited (NGX) stock market yesterday kicked off the week with negative sentiments as investors’ profit taking in Airtel Africa Plc, BUA Foods, Guaranty Trust Holdings Plc (GTCO) and 20 others down market capitalization by N75 billion. The overall market capitalisation value lost N75 billion to

close at N25.361 trillion from N25.436 trillion it opened for trading, while the NGX All-Share Index declined by 139.02 basis points or 0.30 per cent to close at 47,063.28 basis points from 47,202.30 basis points it opened for trading. Accordingly, the Month-toDate and Year-to-Date returns moderated to +1.0 per cent and +10.2per cent, respectively. The highly capitalised stocks that depreciated the market were

P R I C E S MAIN BOARD

F O R DEALS

Airtel Africa that dropped by 1.7 per cent to close at N1,250.00 and BUA Foods depreciated by 1.46 per cent to close at N60.90. GTCO also dropped by 0.75 per cent to close at N26.40, while Nigerian Breweries tumbled by 0.31 per cent to close at n47.80 per share yesterday. Analysing by sectors, the NGX Oil & Gas index depreciated by 0.2 per cent, NGX Insurance also dropped by 0.2per cent, as NGX Industrial Goods down by 0.1per

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

QUANTITY TRADED

cent while the Consumer Goods rose by 1.1 per cent as the NGX Banking index closed flat. Meanwhile, market breadth closed at par, as 23 stocks both advanced and declined. Guinness Nigeria, Learn Africa and NCR Nigeria recorded the highest price gain of 10 per cent each to close at N66.55, N1.65 and N3.63, per share. University Press followed with a gain of 9.81 per cent to close at N2.91, while Academy Press up by 9.56 per cent to close

T R A D E D

VALUE TRADED ( N )

MAIN BOARD

A S

at N1.49, per share. Pharma-Deko rose by 9.09 per cent to close at N1.80, while NEM Insurance gained 8.13 per cent to close at N3.59, per share. On the other hand, Japaul Gold and Ventures led the losers’ chart by 7.69 per cent to close at 36 kobo, per share. Courteville Business Solutions followed with a decline of 7.27 per cent to close at 51 kobo, while Custodian Investment lost 5.70 per cent to close at N7.45, per

O F

1 4

share. NGX Group declined 5.66 per cent to close at N25.00, while NPF Microfinance Bank shed 5.45 per cent to close at N2.08, per share. The total volume traded increased by 8.51 per cent to 338.025 million units, valued at N5.675 billion, and exchanged in 5,619 deals. Transactions in the shares of Fidelity Bank topped the activity chart with 35.821 million shares valued at N104.933 million.

/ 0 2 / 2 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

TUESDAY, FEBRUARY 15, 2022 • T H I S D AY

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

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 11Feb-2022, unless otherwise stated.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A Afrinvest Dollar Fund N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 9.65% AIICO Balanced Fund 3.49 3.56 -1.32% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 7.92% Anchoria Equity Fund 146.09 147.92 4.27% Anchoria Fixed Income Fund 1.18 1.18 3.32% info@anchoriaam.com ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 21.04 21.68 3.75% ARM Discovery Balanced Fund 474.47 488.78 5.17% ARM Ethical Fund 39.30 40.48 0.88% ARM Eurobond Fund ($) 1.07 1.08 -0.42% ARM Fixed Income Fund 1.02 1.02 0.57% ARM Money Market Fund 1.00 1.00 8.33% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 108.734 108.734 6.91% AVA GAM Fixed Income Dollar Naira 1,078.15 1,078.15 7.82% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.07 2.07 8.55% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.26 2.31 33.18% CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.02 1.02 1.10% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 9.15% Paramount Equity Fund 18.49 18.83 9.89% Women's Investment Fund 146.13 147.75 5.07% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 9.05% Cordros Milestone Fund 137.76 138.66 4.21% Cordros Dollar Fund ($) 111.10 111.10 0.60% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 6.84% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 6.80% EDC Nigeria Fixed Income Fund 1,144.61 1,148.30 -2.11% 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 8.50% Emerging Africa Bond Fund 1.01 1.01 3.75% Emerging Africa Balanced Diversity Fund 1.05 1.05 3.49% Emerging Africa Eurobond Fund 101.29 101.29 0.43% 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 Fixed Income Fund 1,413.43 1,413.43 10.91% FBN Balanced Fund 181.89 183.26 3.79% FBN Halal Fund 116.89 116.89 8.86% FBN Money Market Fund 100.00 100.00 8.98% FBN Nigeria Eurobond (USD) Fund - Retail FBN Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund FSDH ASSET MANAGEMENT LTD 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

122.70 153.96

122.70 3.84% 155.96 2.24% fcmbamhelpdesk@fcmb.com

Bid Price 1.00 4.00 1.82 1.21

Offer Price Yield / T-Rtn 1.00 7.60% 4.00 -0.18% 1.86 4.56% 1.21 0.51% coralfunds@fsdhgroup.com

Bid Price N/A N/A N/A

Offer Price N/A N/A N/A

Yield / T-Rtn N/A N/A N/A

INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 7.06% Vantage Balanced Fund 2.91 2.98 2.07% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 142.41 142.46 -8.48% Vantage Equity Income Fund (VEIF) - June Year End 1.28 1.33 2.08% Vantage Dollar Fund (VDF) - June Year End 1.07 1.07 4.03% LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.55 1.57 2.63% Lotus Halal Fixed Income Fund 1,148.34 1,148.34 1.02% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 12.53 12.62 6.32% Meristem Money Market Fund 10.00 10.00 8.58% 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) N/A N/A N/A Norrenberger Money Market Fund (NMMF) N/A N/A N/A PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.64 1.67 2.19% PACAM Fixed Income Fund 11.57 11.56 3.37% PACAM Money Market Fund 10.00 10.00 7.45% PACAM Equity Fund 1.51 1.53 4.83% PACAM EuroBond Fund 114.94 117.33 -0.27% 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 131.29 132.92 8.26% 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 1.08 1.08 10.03% 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 3,514.14 3,551.37 2.05% Stanbic IBTC Bond Fund 236.51 236.51 0.33% Stanbic IBTC Ethical Fund 1.33 1.35 3.08% Stanbic IBTC Guaranteed Investment Fund 315.23 315.23 0.60% Stanbic IBTC Iman Fund 245.07 248.65 1.21% Stanbic IBTC Money Market Fund 100.00 100.00 6.83% Stanbic IBTC Nigerian Equity Fund 11,298.55 11,454.45 1.69% Stanbic IBTC Dollar Fund (USD) 1.30 1.30 0.51% Stanbic IBTC Shariah Fixed Income Fund 117.42 117.42 0.38% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 107.48 107.48 UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 0.97 0.99 4.37% United Capital Balanced Fund 1.41 1.43 3.50% United Capital Wealth for Women Fund 1.14 1.16 4.93% United Capital Sukuk Fund 1.08 1.08 0.88% United Capital Fixed Income Fund 1.97 1.97 0.82% United Capital Eurobond Fund 123.09 123.09 0.61% United Capital Money Market Fund 1.00 1.00 7.57% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.39 13.52 1.55% Zenith ESG Impact Fund 15.32 15.49 4.89% Zenith Income Fund 22.25 22.25 1.19% Zenith Money Market Fund 1.00 1.00 5.65%

REITS NAV Per Share

Yield / T-Rtn

124.98 54.65

10.62% 8.10%

Bid Price

Offer Price

Yield / T-Rtn

14.06 135.11 106.75 19.70 23.18

14.16 138.49 109.11 19.80 23.28

0.71% 2.66% 3.03% 0.00% 0.00%

Fund Name SFS REIT Union Homes REIT

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

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Grifﬁn 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.48 5.74 18.51 1.00 21.28 161.47

4.58 5.84 18.71 1.00 21.48 163.47

19.02% 12.65% 7.72% 7.59% 9.71% 2.33%

NAV Per Share

Yield / T-Rtn

107.28

10.80%

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.

TUESDAY, ͹ͽ˜ ͺ͸ͺͺ ˾ T H I S D AY

THIRTY-FIVE AREGBESOLA TEARS INTO TINUBU, ACCUSES HIM OF PLAYING GOD Aregbesola, who spoke in Ijebu Ijesa, Osun State, while addressing party faithful and stakeholders in the state ahead of the All Progressives Congress (APC) governorship primary, was reportedly attacked by some suspected thugs, during a roadshow in Osogbo, Osun State capital. Although for the 21 minutes and 12 seconds that he spoke, Aregbesola did not at any point mention Tinubu’s name, he however made ignoble passes at him in relation to the political situation in Osun State, including how he has abused his leadership and suddenly assumed the god complex. Below are THISDAY’s transcription and translation of Aregbesola’s address, which he delivered in the Yoruba language. Excerpts: “I’m happy that we sent for you all and you honoured our invitation. Those we specifically asked to be invited here are party leaders from the ward level to the state. They are the critical stakeholders and I’m certain they are the ones here. “Although some, who are not with us would be here also – the informants to the other camps. But we’re no longer afraid of no one at this stage except God. You’re at liberty to listen to whatever we say here and go share with them over there. And I’m happy you’re here. “However, if we have to throw the cards open and start all over again, this party is ours. Let me repeat myself for clarity: this is the core Afenifere – a progressive group, that genuinely loves the people, the society and also loves itself. I’m not talking about cosmestised good. This is Awolowo’s group; it is Bola Ige’s group. It is also Baba Akande’s group, before he partly left us. “We joined you in this same group in 2004; the group we laboured in pain and anguish to put together from 2004 to 2010, November 26, before court gave us victory. This is the same group. Therefore, stop calling yourselves a faction; you are the main APC. Let me put it more succinctly, if our great leaders, who had passed on, had the opportunity of returning to

this life, it is this same party they would join. They would not join a party that is not theirs. “It would be almost impossible for Bola Ige to return to this same life and refuse to be part of this party. It would be very difficult. It would be impossible for Papa Awolowo too to come back to life and elect to join another party in Osun other than ours. It would be difficult. And those of us who are still living are also here in this same party. “There’s no latter-day member here. Everyone here started with us from day one. Even if some had left at some point, we knew why they left. There’s no one here, who did not suffer with us. That’s the summary of my submission; that they have returned to where they’ve always belonged, and to also return the party to where it should be, because we had hitherto followed the instructions of our leader, whom we thought was true to type. “We followed and served this leader with all our might. In fact, our loyalty to him had caused some people to start wondering if we were no longer Muslims. But we were with him and served him according to the admonition of our forefathers, who said when serving anyone, we should do so with sincerity and loyalty; that if you regard anyone as your principal, you must serve him wholeheartedly. “Sadly, we didn’t know that while we wished him well, he didn’t think good of us. However, because we placed him higher than where he ordinarily should be, he started to think he is our god. Unfortunately, for him, we had sworn to God that whoever compares himself to him, we’d beg Him to bring down such a fellow. “God says he does not have a rival, and if you heard what I said in Arabic, God said, ‘He is God and he didn’t have to start procreating before He’ll assume His place as God; that only humans procreate. You are the ones, who attach importance to procreation. “As God, He doesn’t need a child to dwell in his glory. He does

not need any family member or younger siblings to regale in His majesty. That He does not even need a group to be who He is. That He is God and that’s who He is. So, whoever puts himself in place of God, well, let him be his own god. “With suffering, pains and perseverance, we nurtured this party to the stage it is – with sweat, tears, blood and even lost lives. It is by God’s grace that someone like me didn’t pay the supreme price too. May those who lost their lives to the struggle find peace with the Lord. (He mentioned names of some of those who died). As tough as it was, we did not seek revenge. “We took over government on November 27, 2010 and by 28th, we announced that whoever sought revenge would be struck down by God. We only handed over to God, those who made us suffer. After we served for eight years, it wasn’t

only party members that benefitted from our administration, the entire state did. I went everywhere in Osun with projects. “However, by the time my successor was handed over to me around May or July 2018, I was told, ‘Rauf, this is the ideal successor that would stand by you. He would further showcase your efforts. He would not betray you; he would not dim the light of your glory’. That was what the person, who handed him over to me said. If the person is listening to me, it would resonate with him, if he said so or not. “But, did he do as he was vouched for? And when he reneged on these promises, did the person, who handed him over to me draw his attention to these failings? Anyway, isn’t the person the one we now see today? “Meanwhile, we are here at this station on three grounds and if we go about it honestly, we’d never

regret this. First is, God detests hypocrisy. That He is above all things, but hypocrisy, he’d never go close to. However, our prophet, Mohammed (SWA), said: ‘Assist the hypocrite and the victim of hypocrisy. “But when asked to clarify the logic behind such a statement, he answered and said, ‘Listen, it is possible for a hypocrite not to know he is one. However, those of you around should endeavour to join forces with the victim of hypocrisy to prevail over the hypocrite and that way, you would have assisted the hypocrite to change his ways. That’s the first reason we are here and once we can do that, we’d be good to go and they would be the loser. It’s God’s commandment. “Second, we are the ones looking after the people in every way possible. However, those we put into position of authority to drive the project of caring for the people, have since abdicated this

people thought the job would go to as the president then was from same geopolitical zone with him. It further quoted Emefiele to have said he, “remains humbled by President Muhammadu Buhari’s decision to grant him an unprecedented second term as CBN Governor- again without lobbying.” “Thus he will continue to remain loyal to him and the Federal Republic of Nigeria. Mr. Emefiele told us that he believes it’s the prerogative of President Muhammadu Buhari to plan his succession in line with global best practices for good governance for the continuing peace and progress of the federal republic of Nigeria, as such he will play his part to stabilise the economy for an orderly transition. “And given that it’s God that anoints leaders, he will leave his faith firmly in the hands of God. With these fundamental questions settled, it is imperative to address some of the lies and utter falsehood being peddled by blackmailers and political jobbers who see Godwin Emefiele as a threat to their ambition,” it stated. Highlighting his achievements since he assumed office in June 2014, they noted that then, his task was huge and the challenges seemed insurmountable, adding that today he has calmed the waters and put Nigeria back on the path of growth. “As you will recall there was a sharp fall in crude oil prices from 2015, which led to significant revenue shortfalls in Nigeria where crude oil represents about 95 per cent of Nigeria’s export revenue. This created major shock for the Nigerian economy, leading to a 13-month recession in 2016. “In comparison to the previous years before Emefiele became the CBN governor, the average price of crude oil from 2010 to 2014 was

Continued on page 38

WANTED 'SUPER COP,' ABBA KYARI, FOUR OTHERS IN NDLEA CUSTODY OVER DRUG DEALING Bawa James; Inspector Simon Agirgba; and Inspector John Nuhu, were driven into the headquarters of NDLEA in Abuja about 5pm yesterday and formally hand them over for interrogation and further investigation. The NDLEA spokesman stated, “The agency wishes to assure that no stone will be left unturned to ensure that all suspects already in custody and those that may still be indicted in the course of investigation will face the full weight of the law at the end of the on-going probe.” Earlier, NDLEA had declared the suspended Kyari wanted for running a drug cartel. Addressing a press conference in Abuja, yesterday, where he equally presented video evidence showing the culpability of Kyari in illicit drug business, Babafemi said Nigerians needed to be reminded of the enormity of the drug challenge the country faced and how imperative it was for all well-meaning citizens to play a positive role in curbing the illicit drug menace. He said though the war by

the present administration of President Muhammadu Buhari against drug was uncompromising, “unfortunately, some law enforcement agents who should be partners in the pursuit of the president’s mandate are at the forefront of breaking the law, as they aid and abet drug trafficking in the country. “Today, we are forced to declare one of such law enforcement agents wanted in the person of suspended DCP Abba Kyari, the erstwhile Commander of Intelligence Response Team (IRT) at the Force Intelligence Bureau of the Nigerian Police Force.” Babafemi added, “With the intelligence at our disposal, the agency believes strongly that DCP Kyari is a member of a drug cartel that operates the Brazil-Ethiopia-Nigeria illicit drug pipeline, and he needs to answer questions that crop up in an on-going drug case in which he is the principal actor. His failure to cooperate forced the hand of the agency and that is the reason for this press briefing.” He also explained, “Let me give

a synopsis of what transpired. The saga started on Friday, January 21, 2022, when DCP Kyari initiated a call to one of the NDLEA officers in Abuja at 2:12 pm. When the officer returned the call two minutes later, Kyari informed him he was coming to see him, to discuss an operational matter after the Juma’at service. “He appeared at the agreed venue of the meeting with the officer and went straight to the crux of the matter. This was it: His team had intercepted and arrested some traffickers that came into the country from Ethiopia with, according to him, 25kg of cocaine. He proposed a drug deal whereby he and his team are to take 15kg of the cocaine and leave 10kg for the prosecution of the suspects arrested with the illicit drug in Enugu. “In the meantime, the purloined cocaine will be replaced with a dummy worth 15kg. He asked the NDLEA officer to persuade men of the FCT Command to play along as well.” Babafemi continued, “By 11: 05 am on Monday, January 24, after the agency gave the officer

EMEFIELE: IT IS BUHARI’S PREROGATIVE TO PLAN HIS SUCCESSION past few weeks, there have been media reports on Emefiele’s purported interest in the 2023 presidential race, leading to some interested parties and vested interests resorting to all sorts of blackmail, sponsored articles and choreographed comments on social media targeted at tainting Emefiele’s image, impugning his character and legacy. It pointed out that the negative attacks were being sponsored by those who see Emefiele as a major threat to their political ambition. “Truth is Godwin Emefiele has not confirmed to anyone he is running for President even as he is constitutionally qualified to do so; he has been under pressure in the past few weeks as different groups have been putting up unsolicited campaign for his candidacy. “Only yesterday, as the speculation became widespread, a group of his friends under the aegis of FRIENDS OF GODWIN EMEFIELE met with him to clarify his position. Here is what he told us: “That he remains focused on his job and will continue supporting the Muhammadu Buhari-led federal government’s economic recovery drive; that in his career trajectory, right from his days as a young banker, he never asked, nor lobbied for a job, he was invited by the Board of Directors to be the Chief Executive Officer/Group Managing Director of Zenith Bank as he was an integral part of the team, led by founder Jim Ovia, that transformed Zenith Bank from a start-up to one of Africa’s largest banks with subsidiaries in Ghana, Sierra Leone, Gambia, South Africa, Dubai, China and the United Kingdom.” It further pointed out that in 2014, President Goodluck Jonathan tapped him to be the CBN Governor, a job he didn’t lobby for and in which his name was not among those being considered at that time and was not even from the geo-political zone that most

responsibility and we would never share space with such fellows. God says whoever is against the needy is His enemy. To that extent, we have to move away from these people, because we can’t because of our association with them offend God. If we stick to this, we’d prevail. The third reason is, the things we did that the people wanted, which unfortunately, this man has turned away from and which formed the pride of our government, and which has been the thrust of our party since the days of Awolowo, we would not sit by and watch a fellow, who had no clue about this task, to destroy our efforts. “We will never assist such a fellow. In a worst case scenario, we’d move away from them. Interestingly, in every group, everyone has a right to their choices. But in making those choices, you must be sure a majority of the members align

over $100/barrel and this fell to some $30 / barrel with high production costs of some $25/barrel. “Despite these challenges Emefiele’s monetary policies supported the Buhari administration and all 36 State governments, ensuring salaries were paid and much more was done, with much less, in infrastructure, steering Nigeria away from much worse outcomes while many oil producers like Kuwait, Russia, Angola and Brunei had longer lasting recessions between of 20 – 60 months,” it stated. Additionally, FRIENDS OF EMEFIELE urged critics to also understand that the second recession the country entered into in 2020 was as a result of the COVID-19 pandemic. Then, the global economy (Nigeria inclusive) was plunged into recession because of the pandemic which was unprecedented. It led to declines in economic activities and lockdown across the world. They pointed out that countries such as the United States had their Gross Domestic Product (GDP) falling in 2020 by -31 per cent in the second quarter (Q2) of that year; the United Kingdom by -19.4 per cent in Q2; European Union by -14.1 per cent in Q2 and Nigeria, with deft response of the CBN had -6.1 per cent in Q2. “As we all know the CBN supported fiscal authorities in the following areas. N100 billion health sector credit facility for operators in the sector. Today, Nigeria boasts of two world-class cancer centres in Lagos and medical tourism has reduced. “A one-year extension of a moratorium on principal repayments for CBN intervention facilities; the reduction of the interest rate on intervention loans from nine per cent to five per cent; strengthening of the loan-to-deposit ratio policy (i.e. stepped up enforcement of directive to extend more credit

to the private sector),” it stated. The group listed other measures introduced by the Emefiele-led CBN to include the creation of N400 billion target credit facility for affected households and small and medium enterprises; granting regulatory forbearance to banks to restructure terms of facilities in affected sectors; improving FX supply to the CBN by directing oil companies and oil servicing companies to sell FX to the CBN rather than the Nigerian National Petroleum Corporation and additional N100 billion intervention fund in healthcare loans to pharmaceutical companies and healthcare practitioners intending to expand/build capacity. The group added: “Despite the challenges, the CBN under Emefiele has in the last seven years maintained a developmentaloriented approach in supporting the federal government to address challenges across various sectors of the economy and has initiated far-reaching reforms. “One issue the critics have continued to raise is the issue of the rice pyramid which was recently unveiled in Abuja. But these arm chair critics have failed to understand that through the Anchor Borrowers’ Programme (ABP), an initiative that was introduced by the Emefiele-led CBN, the lives of a lot of rural farmers have been transformed. “The rice pyramid which had taken place previously in Minna, Kebbi, Gombe, Ekiti and Abuja, showed how Emefiele has used agriculture to support the federal government’s wars on insecurity. “The rice pyramids were build bag by bag in all the states the programme had been launched since December 2020, when it was first launched in Minna, Niger State. The programme held last month to unveil the world’s largest rice pyramid in Abuja was also

an initiative of the Rice Farmers Association of Nigeria (RIFAN).” It noted that from an average yield of 1.8 metric tonnes per hectare in the pre-ABP era, the initiative has increased the country’s average yield per hectare for rice paddy and maize to about five metric tonnes per hectare. Additionally, there has been a significant reduction in the country’s rice import bill, from a monstrous $1.05 billion prior to November 2015, to the current figure of $18.50 million, annually, the group noted. “Emefiele also spearheaded the creation of the Coalition Against COVID-19 (CACOVID), an initiative that brought all the private sector business leaders under an umbrella in the fight against the spread of the pandemic. “This was why in its latest Article IV Consultation released in February 2022, the International Monetary Fund praised Nigeria’s effort in fighting the spread of the virus. “There are many other measures announced by the CBN Governor which will be detailed in due course like the support to Technology, Digital innovation, the Creative Industries and the 15 Trillion Infrastructure corporation recently launched. “Apparently, those behind the sponsored negative reports are afraid of Emefiele’s towering personality and service to Nigeria. But they must understand that he cannot be stampeded any way. He is focused on delivering the mandate of the Central Bank; he is rebuilding the economy of the country through import substitution policies and using agriculture to create a new rural middle class from ground up. “Those who continue to criticise the rice pyramid are too ashamed of giving glory to whom it is due. Emefiele is focused on his unfinished job and should not be distracted,” the statement added.

the green light to play along, he and Kyari began a WhatsApp call for the rest of the day. The officer conveyed ‘their’ willingness to play the game. “At this point, Kyari disclosed that the 15kg (already taken out) was shared between the informants that provided information for the seizure and he and his men of the IRT of the Nigerian Police. According to him, the informants were given 7kg while his team took 8kg, which was already sold. He then offered to pay the NDLEA team (that is the officer and the FCT commander) by selling, on their behalf, half of the remaining 10kg, thereby further reducing the original cocaine for the prosecution to just 5kg. “At N7 million per kilogramme, the proceed from the 5kg would amount to N35 million, at the exchange rate of N570 per dollar being the black market rate for the day, January 24, 2022. In effect, he would be delivering $61, 400 to the NDLEA team. “He put pressure on our officer to wrap up the arrangement with the commander of the FCT Command to take custody of the drug and suspects from his men who were on ground in Abuja. At the time, he was speaking from Lagos, where he allegedly travelled for private business. “The next day, January 25, Kyari offered to send his younger brother to deliver the payment while his men delivered the suspects, but our officer turned down the suggestion, insisting he would rather deal with him in person and was therefore prepared to wait for him to return from Lagos.” According to Babafemi, by 5: 23 pm, Kyari was in Abuja and met with the officer at the same rendezvous where they had the first meeting. He stated that in their discussion, Kyari disclosed how his team received the information from a double-crosser who betrayed the traffickers to him, “showing a sordid connection between law enforcement agents and the drug underworld; he narrated how acting on the tip-off, his team departed Abuja to Enugu and arrested the traffickers, removed part of the consignment on his instruction and replaced same with dummies.” He also indicated how to identify the remnant of the original cocaine that would be delivered to NDLEA, five original packages marked with red dots. “The reason for this was to avoid the dummies being subjected to test,” Babafemi said. “He forwarded a picture of the marked original cocaine package,” he added. He revealed further, “According to the plan, once the 5kg cocaine has been tested in the presence of the suspects and confirmed positive, there would be no need to test the remaining ones, being dummies. “He also brought with him the money from the sale of the 5kg share of the NDLEA team, a total Continued on page 38

TUESDAY, ͹ͽ˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

INAUGURATION OF THE MEGA MEDIA COMPLEX...

L-R: Former Bayelsa State Governor and Senator representing Bayelsa West Senatorial District, Chief Seriake Dickson; Benue State Governor, Samuel Ortom, his Delta State counterpart, Dr. Ifeanyi Okowa; National Chairman, Peoples Democratic Party, Senator Iyorchia Ayu; Bayelsa State Governor, Senator Douye Diri, and his wife, Gloria, during the inauguration of the mega media complex in Yenagoa... yesterday

PDP Govs to Buhari: Sign Electoral Bill Now Without Further Delay Challenge him to address the adulterated fuel crisis now

Chuks Okocha in Yenogoa Governors of the Peoples Democratic Party (PDP) left off from their 14th meeting in Yenagoa, Bayelsa State with a charge to President Muhammadu Buhari to sign the Electoral Act amendment bill without any further delay. A communique read by the Deputy Chairman of the forum, Governor Okezie Ikpeazu of Abia State, the governors also challenged the president to immediately address the adulterated fuel crisis in the country. "Waiting to run out the 30 days is yet another sign of unwillingness by Mr. President to give Nigeria a reformed electoral framework. If there are still misgivings on any aspect of the bill, amendments may be introduced at a later stage," the PDP governors said. They also congratulated party for winning 43 out of the 62 councillorship positions in the just concluded Abuja Area Council election results. They said in spite of improve-

ments in the conduct of elections, the Gwagwalada and Abuja Area Council results showed that manipulations were still possible, while urging INEC to tighten all observed loopholes and further improve on the functioning of the BIVAS Machine for future elections. Expressing displeasure over the contaminated fuel recently supplied to Nigerians, they urged government to bring the perpetrators to account. According to the communique, "The governors frowned at the duplicity, inconsistency, insincerity of the APC-led federal government on the fuel subsidy regime, which has been badly and corruptly administered. The figures of consumption ascribed to Nigerians appear fictitious and bloated. They called for proper investigation to be conducted on this matter. "The forum welcomed the court decision on Police Trust Fund deductions from the Federation Account, a suit at the instance of Rivers State and urged the Federal Government

to stop similar unconstitutional deductions from the Federation Account." In the same vein, the PDP governors urged that the Revenue Mobilisation Allocation and Fiscal Commission should expedite action on the new allocation formula in such a way as to increase allocation to states and local government. "The Forum once again deplored the way and manner the CBN is being run as an alternate government, indeed, a government within a government. It is time to streamline its functions and processes to be constitutionally

The Economic and Financial Crimes Commission (EFCC) has secured the final forfeiture of 20 landed properties valued at over N3.7 billion belonging to a top military officer controlled through proxies, including the late Gen. Aminu Maude and others. Among the proxies are Atlasfield Integrated Services Nigeria Limited, Marhaba Events Place, Aflac Plastics and Atlasfield Gas Plant Limited. Justice N. E Maha of the Abuja Division of the Federal High Court granted the order while ruling on the application by EFCC's counsel, Cosmos Ugwu and Musa Isah. In May 2020, the court had ordered the interim forfeiture of the properties following an ex parte

application by the commission, alleging that the assets were proceeds of unlawful activities. The court, having considered the application vis-a-vis section 17 (sub-sections 1 and 3) of the Advance Fee Fraud and other Fraud Related Offences Act 2006, granted the prayers of the EFCC for an interim forfeiture. It also directed the publication of notices, alerting anyone interested in the properties to show cause why they should not be forfeited to the Federal Government, according to an EFCC's statement. In the absence of any contestation, the court ordered the final forfeiture of the properties. The forfeited properties, valued at over M3.7 billion, are located in different parts of Kano, Katsina,

rejig the framework for policing and securing Nigeria should not be missed. To this end, the Forum would set up a panel of consultants to have a thorough look at the security architecture of Nigeria and make recommendations." The governors further urged the National Assembly to transfer some items from the Exclusive Legislative list to the Concurrent list. Also congratulating their Bayelsa State counterpart, Douye Diri, on his second anniversary in office, the governors testified that he has made a positive difference for the people of the state and thanked

him for being a gracious and wonderful host. Those who attended by the meeting included Okezie Ikpeazu of Abia State, which chaired the meeting; Ahmadu Umaru Fintiri of Adamawa State, Udom Emmanuel of Akwa Ibom State, Bala Mohammed of Bauchi State, Douye Diri, host and governor of Bayelsa State, Samuel Ortom of Benue State, Ifeanyi Okowa of Delta State, Godwin Obaseki of Edo State, Ifeanyi Ugwuanyi of Enugu State, Oluseyi Makinde of Oyo State and Nyesom Wike of Rivers State.

No Excuse for Failure, Chief Judge Charges Abuja Magistracy As magistrates decry deplorable working conditions, demand urgent intervention Alex Enumah in Abuja The Chief Judge of the High Court of the Federal Capital Territory (FCT), Justice Hussein Baba-Yusuf,

EFCC Secures Final Forfeiture of General's N3.7bn Property Kingsley Nwezeh in Abuja

compliant," the communique of the meeting said. The forum also decried the opaque nature of Nigerian National Petroleum Corporation (NNPC) operations and called for accountability and reconciliation of NNPC remittances into the federation account. Thus, as the National Assembly winds down the current phase of the Constitution Review exercise, the forum urged that they revisit the issue of devolution of more powers to the states and local governments. They said, "This opportunity to

Cross River (in Calabar) and Kaduna. Specifically, they include filling stations, event centres, plazas, block industries, a truck assembly plant, polythene production factory and table water factory. Others are undeveloped property located at Rake, adjacent to Dara Orthopedic Hospital, Kano, valued at N300 million; 117 hectares of land located at Adiabo, Oduapani LG covered by Certificate of Occupancy No. OD/23/2011 dated 21/2/ 2011 in Calabar, Cross River, valued at N386 million; truck assembly at Ring Road, adjacent to AA Affa Filling Station, Kano, valued at N206 million and Marhaba Event Centre, Guda Abdulahi Road Farm Centre, Kano valued at N250 million

yesterday charged magistrates in the FCT to always give their best in the discharge of their duty of justice administration in the country. Baba-Yusuf, who warned that, "there should be no excuse for failure," emphasised that the magistracy plays a very crucial role in the administration of justice in the country, adding that, "if we must get it right it must be at the magistrate level, once we get it right at the bottom we will get it right at the top." He said this while speaking at a one-day workshop for magistrates in the FCT with the theme: “Attaining Global Best Practices in the FCT Magistracy - Challenges and Solutions.” The Abuja CJ, noted that the theme was apt ting into account that, "the FCT Judiciary is a model judicial institution where nothing short of global best practices will suffice in our collective strive for the attainment of justice through the instrumentality of our respective courts.” He described the magistrate court as an integral and critical aspect of the nation's justice institution with shared responsibilities for quick dispensation of justice.

"This is indeed an onerous task in view of the heavy docket of the magistrates who must of necessity contend with the increasing number of cases in the Federal Capital Territory as a result of growing population of the city coupled with limited resources. "In this type of atmosphere, the magistrates walk a tight rope as he has to balance the obligation to maintain best global practices in his day to day activities with obvious challenges associated with his job. "This is undoubtedly a tall task, nevertheless there is no excuse for failure," he said. He expressed optimism that the line-up of events would be of tremendous assistance to the magistrates in their quest to maintain and sustain global best practices in the art of adjudication of cases brought before them and charged them to maximise the opportunity. Earlier, the Chairman of the FCT Magistrate Association of Nigeria, Senior Magistrate, Musa Eneye, lamented the deplorable working conditions under which he and his colleagues operate. "Today, we will consider as

much as humanly possible the major impediments we face that hamper the delivery of justice, fairness and that which is legally acceptable for magistrates while proffering workable solutions which hopefully will be implemented in due course", he said. Amongst these impediments he said was the absence of a constitutional provisions to back the functions of the magistrate, poor infrastructures as well as poor welfare packages which exposes magistrates to corruption. “That magistrates are most vulnerable in the current clime of insecurity in our nation cannot be overemphasised, it is a living reality," he added. Eneye argued that the magistrates would do better if all modern tools and gadgets of technology were at their disposal in the carrying out of their lawful duties, adding that the superior courts would also be less burdened by appeals to redressed perceived wrong judgments if they are well equipped with current technology and ICT deployed in the search of cases before judgments and rulings are delivered.

TUESDAY, ͹ͽ˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

ISN CUSTOMERS FORUM ... L-R: General Manager, Diabetes Care, ISN Medical, Mrs. Ifeyinwa Chioke; wife of the winner, Amaka Ofungwu ; Managing Director, Pipette Nigeria and winner of 2021 ISN Medical Hyundia Car, Mr. Chinwuba Ezennie; and PHOTO: SUNDAY ADIGUN Managing Director, ISN Ltd. Mr. Felix Ofungwu at the ISN Medical 2021 Customers Forum in Lagos…. yesterday

Makinde Approves Balogun’s Appointment as 42nd Olubadan Kemi Olaitan in Ibadan Oyo State Governor ‘Seyi Makinde yesterday approved the appointment of Senator Lekan Balogun as the 42nd Olubadan of Ibadanland. The approval of Balogun followed a recommendation to that effect made by the Olubadan-in-Council and which was communicated to the governor. Makinde in a statement by his Chief Press Secretary, Mr. Taiwo Adisa, wished the newly confirmed

Olubadan a peaceful and eventful reign. According to him, “I am pleased to announce the appointment of the Otun Olubadan of Ibadanland, High Chief Lekan Balogun as the 42nd Olubadan of Ibadanland. “The appointment is in line with the Olubadan of Ibadan Chieftaincy Declaration, as well as the unique and time-tested tradition of our people. “On behalf of the government and good people of Oyo State, I

wish the newly confirmed Olubadan a successful reign blessed with peace and unprecedented progress.” Makinde has also approved the revocation of the amended Ibadan Chieftaincy Declaration, which regulates the selection to the Olubadan of Ibadan chieftaincy stool. The statement indicated that the governor made the revocation order, dated February 11, 2022, in line with the powers conferred on him by the Constitution of the Federal Republic

of Nigeria, 1999 (as amended), in view of the Judgements of the Oyo State High Court on February 1 and 10 as well as Sections 7, 20,26 and 30 of the Chiefs Law of Oyo State 2000. The four separate laws/White Papers approved for revocation were made public by the immediate past administration between 2017 and 2018. The statement listed the laws/ white papers to include the amended declaration regulating

FCTA Threatens Demolition of Senate President, Speaker's Official Quarters over Masterplan Violation Olawale Ajimotokan in Abuja The Federal Capital Territory Administration (FCTA) has threatened to demolish the official residences of the President of the Senate and Speaker of the House of Representatives as well as other principal officers of the National Assembly presently under construction at the Three Arms Zone in

apparent contravention of the Abuja Master Plan. The Coordinator, Abuja Metropolitan Management Council, (AMMC) Umar Shuaibu, made the threat yesterday when he appeared before the House of Representatives Ad-hoc Committee investigating the real estate sector in the FCT. The other massive structures earmarked for demolition were

those sheltering the Deputy President of the Senate, as well as the Deputy Speaker of the House of Representatives. Shuaibu said the FCTA had already issued notices to the National Assembly about the impending exercise. "There are so many buildings and structures that don't conform with our Master Plan.

Delta Govt Assures Justice for Boy Who Died after Flogging Omon-Julius Onabu in Asaba The Delta government has assured that it will follow to a logical conclusion the case of the fatal flogging of a 19-month-old pupil of a private school in Asaba to ensure justice. The boy, before his death, attended Arise and Shine Nursery and Primary School in Asaba. The government has ordered the school's closure. Commissioner for information, Mr Charles Aniagwu, said on Monday in Asaba that the state government was interested in the matter. Aniagwu told journalists, after a brief meeting with the commissioner of police in Delta, Ari Muhammed Ali, that the

government was satisfied with the police's handling of the matter. Flanked by Ali, the Commissioner for Basic Education, Mr Chika Ossai and the Commissioner for Humanitarian Services, Bridget Anyafulu, Aniagwu said every step was being taken to ensure justice. The police commissioner assured a full-scale investigation into the matter, adding that the police were awaiting the child's autopsy, which would determine the cause of the child's death. He observed that the child's mother had, after school hours, "observed that the child had some marks," which she took up the following day with the GRA Police Division in the state capital. According to him, the mother

and his teacher, who is also the school's proprietress, were immediately invited and later arrested. The teacher accused of flogging the child denied flogging the kid to death. "I flogged him as little as I can flog a child, but I didn't flog him to death," the 24-year-old suspect, Mr Emeka Joshua, son of the school's proprietress, told journalists at the police command headquarters in Asaba. Explaining why he flogged the child, Joshua stated that the little boy (victim) had "pushed another child down and that child hit his head on the ground." Meanwhile, First lady Dame Edith Okowa paid a condolence visit to the deceased's mother on Monday.

These structures and buildings are everywhere. There are some in the Three Arms Zone. "The official residences of the President of the Senate and the Speaker of the House of Representatives, don't conform with our Master Plan. They are located within the Three Arms Zone," he said. According to him they were only awaiting the go ahead order to bulldoze the affected structures having already conveyed their intention in writing to the National Assembly management. Interestingly, the approval to build the structures was granted by the same FCT Administration, which funded and supervised the construction. The approval was granted by Bala Mohammed when he was the Minister of the FCT, during Goodluck Jonathan administration. Mohammed is presently serving as the Governor of Bauchi State. The approval came on the heel of the sale of the official residences of the presiding officers of the National Assembly, located in Apo Legislative Quarters, Abuja. Since the sale of the former official quarters, the FCT Administration has been spending humongous amount of money yearly as house rents of presiding officers of the two chambers of the National Assembly. The affected structures are expected to be completed before the end of the tenure of President Muhammadu Buhari’s administration next year.

the selection to the Olubadan Chieftaincy stool, published in August 2017; the implementation of the White Paper on the review of the existing Olubadan of Ibadan Chieftaincy Declaration and other chieftaincies in Ibadan, Published

in August 2017; the approval of appointment of beaded crows for the Olubadan in Council published March 2018 and the appointment of Beaded crowns and Coronet Wearing Obas published in March 2018.

Osinbajo: Humanitarian Ministry Last Hope of Rescue for Vulnerable Nigerians Olawale Ajimotokan in Abuja Vice President Yemi Osinbajo, yesterday, described the Ministry of Humanitarian Affairs Disaster Management and Social Development as the last hope of intervention for succor and survival by the vulnerable of the society. He made the declaration at the unveiling of the Strategic Roadmap 2021-2025 developed by the Ministry of Humanitarian Affairs and Disaster Management to proffer long term solution for vulnerable citizens. Osinbajo was represented at the launch held at the State House by the Deputy Chief of Staff to the President in the Office of the Vice President, Mr. Rahman Ade Ipaye (SAN). “The Nigerian people are counting on us and in many respects for our most vulnerable citizens. This ministry is the last hope of rescue and recovery. It is my hope, therefore, that this roadmap will resolve in practical fulfillment of all our expectations,” Osinbajo said. While adding that the roadmap would be effective only to the degree of its implementation, he assured the people that the federal government would support the actualisation of the plan in every step on the way. According to the vice president, from the inception, one of the core priorities of the administration, has been the dignity and social security of all Nigerians. He said the belief that no Nigerian was left behind in the country’s march to the future warranted the establishment of the National Social Intervention Programmes to provide

critical welfare support to various vulnerable groups. “Our emphasis on engaging all Nigerians and paying specific attention to the most vulnerable is a consistent trend running through our policies and plans. Social inclusion has been a component of the economic recovery and growth plan and the national development plan,” Osinbajo said. He noted that the Ministry of Humanitarian Affairs sat at the centre of the web of the construction of social security and activist engagement to deliver social security for Nigerians. He, however, lamented that the North-east crisis, which has created an army of refugees in neigbouring countries while thousands of children that were out of school have affected the country’s ability to effectively respond to humanitarian emergencies. He noted that it was in this regard that the strategic roadmap formulated by the ministry was important given the disparate initiatives over which it has been given charge. In her remarks, the Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouq, said the roadmap, a product of widespread consultation and extensive deliberations within and outside the ministry and its agencies also introduced implementation, monitoring, evaluation, review and reporting mechanisms that would be deployed to ensure effective results delivery. She said every policy initiative and activities of the ministry’s units will be aligned with the roadmap.

TUESDAY, ͹ͽ˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

ANNUAL SCHOOLS’ CHALLENGE... L-R: Head of Exams, Test and Records, Chrisland Schools Limited, Mr. Olusegun Ogunsola; Head of Exam, WAEC, Ogba, Mrs. Osoba; teachers and students of Oritamefa Baptist Model School, Ring Road, Ibadan; Principal, Chrisland Predegree College, Mrs. Atinuke Agomoh, and Head of Special Duties, Mr. Iyke Igili, at the 2021/2022 edition of the Winifred Awosika Foundation Annual Schools’ Challenge, held at Lekki, Lagos…recently

Impeachment: Court to Hear Zamfara Deputy Governor's Suit March 10 Alex Enumah in Abuja Justice Inyang Ekwo of the Abuja Division of the Federal High Court has adjourned till March 10, 2022, for definite hearing in a suit insti-

tuted by the Zamfara State Deputy Governor, Mahadi Gusau, seeking to stop the State House of Assembly from impeaching him on account of his refusal to decamp to the All Progressive Congresss (APC).

Justice Ekwo announced the adjournment yesterday, after ordering parties in the suit to file and exchange all their processes ahead of the date. At yesterday's proceedings,

AREGBESOLA TEARS INTO TINUBU, ACCUSES HIM OF PLAYING GOD with you. “It is possible some share your ideals and it’s also possible some do not. This happened in Lagos recently. There was a governor, who wanted to seek re-election and the party declined and showed him the way out with their votes. So, the same way it was in Lagos then, is exactly the way it is in Osun today. What is good for the goose, is also good for the gander. It cannot be the turn of your younger brother now and you change the rules.” Meanwhile on the attack on Aregbesola, THISDAY gathered that the gun-wielding hoodlums, suspected to be political thugs, had waylaid his convoy and started shooting in a bid to scare away the former governor of the state and members of his entourage. THISDAY learnt that Aregbesola

had around 5:30pm stood on his open roof vehicle and waived at a large crowd of residents, who were hailing and jubilating at seeing their former governor. He continued his demonstration amid singing by his followers. Some were screaming “Sheu” as others were waiving brooms. The roadshow pulled so much crowd that there was traffic snarl along the Gbaemu-Idi-Seke road. But problems started, when Aregbesola got to Orisunbare market, close to the Old Garage,when sounds of gunshots rent the air. Jubilant residents, who were following Aregbesola scampered to safety to escape being hit by stray bullets. A team of combined security operatives from the Nigeria Security and Civil Defence Corps, Nigeria

Outcome of FCT Council Polls, Warning to APC, Says Ortom George Okoh in Makurdi Benue State Governor, Samuel Ortom, has said the outcome of the just concluded council polls at the Federal Capital Territory (FCT), was a timely warming to the ruling All Progressives Congress (APC) that time to play games with the destiny of the people was over. Ortom handed this warning while congratulating the Peoples Democratic Party (PDP) Chairmen and councilors-elect in the just concluded Federal Capital Territory(FCT) Council polls held on Saturday. The governor, in a press statement by his media aide, Mr Nathaniel Ikyur, yesterday, congratulated all the candidates of the PDP in the Saturday council polls for their show of strength and resilience. "I want to particularly congratulate the Chairmen-elect of AMAC, Christopher Zakka; Kuje, Suleman Sabo and John Gabaya of Bwari Area councils for their victories at the polls," Ortom stated. The governor, who is also the Chairman of the PDP Campaign Council for the FCT election, said,

"Yesterday’s election in the FCT is a sound note of warning to the APC that the time for playing games with the destiny of Nigeria is over. The people whose mandate we hold in trust have spoken. And I am convinced that this is just the beginning." The governor, therefore, charged the newly elected Council officials “to prepare to serve the people of your respective local government councils diligently, knowing full well that you all have the full support of the entire hierarchy of the PDP across the country. I am convinced that you will make our great party proud. "By this victory, it is a signpost that power is now returning to the people of this country,who will use it effectively in rescuing Nigeria at the centre and throughout Nigeria from the damage done to our collective psyche by the APC-controlled federal government.” Governor Ortom, however, said the party had put its legal team on the alert to look into reported electoral infractions in some councils and would not hesitate to approach the election tribunal to seek redress and reclaim its mandate.

Immigration Service and Department of State Security, who were among Aregbesola’s convoy, stepped down from the vehicles and started shooting in a bid to scare away the armed thugs. For about twenty minutes, Old Garage Area was in panic as traders and road users were distraught as a result of the gunshots from the thugs and security operatives.

counsel to the Peoples Democratic Party (PDP) and Gusaau, Chief Emmanuel Ukala, appealed to the Judge, to make a definite pronouncement on maintaining the status quo. In the alternative, the senior lawyer urged the Court to direct Chief Mike Ozekhome, counsel to Governor Mohammed Matawalle, the Chief Judge of Zamfara State and the Speaker of the Zamfara State House of Assembly, to give an undertaking for maintenance of status quo. However, in his response, Ozekhome told the Court that Chief Ukala only served him the amended Originating Summons, the motion to revive the status quo, as well as a motion for interlocutory

injunction last Friday. He argued that by the Rules of Court, he was entitled to seven days each to respond to both motions and 30 days to respond to the amended Originating Summons. He also argued that the status quo order granted in July 2021, had since expired after 14 days going by the Rules of the Federal High Court and that the said maintenance of status quo order was based on a mere letter of invitation sent to Gusaau to appear before the House to answer certain questions, and not an order against impeachment. Ozekhome further argued that as a constitutional lawyer, he cannot give an undertaking which would have the effect of preventing the Zamfara State House of Assembly

from carrying out its constitutional functions, including impeachment. Ruling on the matter, Justice Ekwo held that the application for maintenance of status quo and the other processes were not ripe for hearing. He advised both lawyers that whatever applications or grievances they might have should be taken to the next adjournment date. He therefore granted Ozekhome seven days each to respond to the two motions and 21 days to respond to the Originating Summons. He also granted Ukala time to file his responses. Justice Ekwo subsequently adjourned the matter to March 10, 2022, for definite hearing of all pending applications.

WANTED 'SUPER COP,' ABBA KYARI, FOUR OTHERS IN NDLEA CUSTODY OVER DRUG DEALING of $61,400. Our officer, however, preferred to take the money inside his car. Well, the car was wired with sound and video recorders. And the moment was documented.” The spokesman said the NDLEA had a trove of intelligence, hard facts, from chats to photos and video and a detailed transcript of the communication between Kyari and officers of the agency. He said, “This is not the place to delve into the details. But it is disheartening to hear straight from the horse’s mouth the kind of sleaze engaged in by this team of rogue law enforcement agents led by Kyari, the members of whom he described this way: ‘the boys are very, very sharp, they are very loyal.’” Babafemi said it was disheartening to hear Kyari referred to this rogue team in narrative, thus, “I do take good care of them, and this kind of work is done by only that team.” He added, “It is equally disheartening to hear him give details of another similar operation which they pulled off, three weeks ago, according to him.” He revealed, “DCP Abba Kyari was invited by NDLEA for debriefing on Thursday February 10 through two main channels because there is a whole lot of questions begging for answers. The invitation was legitimate and formal according to our protocol. But up till the close of office hours on Friday, February 11, he refused to respond. Up till this moment, he hasn’t responded.” The NDLEA spokesman said, “Kyari must be debriefed before the suspects are arraigned in court. Having failed to honour the official invitation, NDLEA has no option but to declare DCP Abba Kyari of the Nigerian Police wanted, right

from this very moment… “I must say this publicly. We are not unaware of threats to the lives of NDLEA officers involved in this investigation, even as we continue to do our best to protect our officers and men in the line of duty. “We are making this strong statement to those contemplating harmful action against NDLEA officers. They would only succeed in compounding their problems in the event of the murder of or harm to officers and men of NDLEA.” Immediately after the media briefing, the Inspector-General of Police, Mr. Usman Baba, ordered the arrest of Kyari and the other suspects. Baba also charged the NDLEA to investigate the indicted officers of the agency involved in the alleged crime. The police in a statement revealed, "In line with standard administrative procedure of the force, the Inspector General of Police ordered a high-level, discreet, and in-house investigation into the allegations. “The interim investigations report revealed that two international drug couriers identified as Chibunna Patrick Umeibe and Emeka Alphonsus, both males, were arrested at Akanu Ibiam International Airport, Enugu on the 19th of January, 2022, upon their arrival from Addis Ababa aboard an Ethiopian Airlines flight ET917. "The arrest led to the recovery of substantial quantity of powdery substance suspected to be cocaine from the two narcotic couriers. The operation, which was intelligencedriven, was undertaken by a unit of the Police Intelligence Response Team. "Although the case and the two suspects were subsequently transferred to the NDLEA on the

25th January, 2022, the findings of the in-house investigation ordered by the Inspector General of Police established reasonable grounds for strong suspicion that the IRT officers involved in the operation could have been involved in some underhand and unprofessional dealings as well as official corruption which compromised ethical standards in their dealings with the suspects and exhibits recovered." The statement signed by Deputy Force Public Relations Officer, Mr. Olumuyiwa Adejobi, a Chief Superintendent of Police (CSP), added, "Beyond this, the police investigation also established that the international narcotics cartel involved in this case have strong ties with some officers of the National Drug Law Enforcement Agency (NDLEA) at the Akanu Ibiam International Airport, Enugu who are on their pay roll. "The two arrested drug couriers confirmed that the modus is for the transnational drug barons to conspire with the NDLEA officers on duty and send them their pre-boarding photographs for identification, seamless clearance, and unhindered passage out of the airport with the narcotics being trafficked. "The two arrested drug couriers also confirmed that they have been enjoying this relationship with the NDLEA officers at the Akanu Ibiam International Airport since 2021 and had in this instant case of 19th January, 2022, been identified and cleared by the NDLEA officers as customary, having received their pre-departure photographs and other details prior to their arrival in Enugu, and were on their way out with the narcotics when they were apprehended by the police. "The police investigations report also indicted DCP Abba Kyari,

who had been on suspension for his alleged involvement in a different fraud case being investigated by the Federal Bureau of Investigations (FBI), for complicity in the allegation of official corruption, tampering with narcotics exhibit and sundry unprofessional conducts that negate the standard administrative and investigative protocols of the force as well as extant criminal laws. "It is to be emphasised that DCP Abba Kyari’s involvement in these allegation occurred while his suspension from service was subsisting", it said. "On the strength of the findings of the in-house police investigation panel, the Inspector-General of Police has ordered the immediate arrest and transfer of all the indicted police officers to the NDLEA authorities for conclusive investigation, while appropriate disciplinary actions are also being initiated against them by the Force leadership.” The police high command added: “The IGP has also formally requested that the Chairman and Chief Executive Officer of the National Drug Law Enforcement Agency should ensure the identification, arrest and investigation of the agency’s officers, who have also been found to be colluding with the international drug cartel involved in this case towards advancing the anti-narcotics agenda of the federal government. "The IGP assures the public of his administration’s commitment to upholding the tenets and values of policing in line with the agenda of ethical regeneration, restoration of professional standard, enhancement of the anti-corruption drive, respect for the rule of law and inter-agency collaboration in the drive to stabilise the internal security order of the country."

TUESDAY, ͹ͽ˜ ͺ͸ͺͺ ˾ T H I S D AY

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

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Neymar May Return as PSG Host Real Madrid

Neymar could play his first game for Paris St-Germain since November when they host Real Madrid in the first leg of their Champions League last-16 tie tonight. The Brazilian is back in training after suffering an ankle injury. Ex-Real Madrid defender

TONIGHT(9pm) PSG v Real Madrid Sporting CP v Man City

WEDNESDAY FC Salzburg v B’Munich Inter v Liverpool

Sergio Ramos is PSG's only absentee as he continues to struggle with a calf problem. "Given the players involved this could have been the final," said PSG boss Mauricio Pochettino. Pochettino's side lost in the semi-finals to Manchester City last season and the pressure is growing on the former Tottenham boss to deliver a first European title to the French side. The Qatar-owned club lost the 2020 final to Bayern Munich but before that had gone out in the last 16 in three straight seasons. Lionel Messi, who signed from Barcelona in the summer, has scored five of his seven goals for the club in the Champions

C H A M P I O N S L E AG U E

League and also netted a record 26 times against Real Madrid during his time at Barca. "PSG have been trying to win

this trophy for 50 years, so we are the challengers," said Pochettino, whose team are 13 points clear at the top of Ligue 1.

"We have so much respect for Real Madrid as one of the best teams in the world. You don't win 13 European Cups thanks to your coaches, that is down to the overall strength of the club.

"We are the challengers, a lot of effort has gone into building a squad to achieve our dream but we're still the challengers and Real Madrid are the ones who have a habit of winning the Champions League."

NGF Begins Integration of Nigerian Golfers into WHS Olawale Ajimotokan in Abuja

The Nigeria Golf Federation (NGF) has set up the modality for the integration of Nigerian amateur golfers into the World Handicap System (WHS). NGF President, Otunba Olusegun Runsewe, disclosed this yesterday after the technical committee briefed the board in Abuja. He described the process as an innovation in the history of golf in the country. The NGF President said the software will score every amateur golfer such that a 28- handicapper will now know what is expected of him in an eight or 18-hole round of golf. Runsewe said the custodian of golf, Royal and Ancient (R&A) had asked the NGF to choose 10 golf clubs to help with members to start the WHS exercise. In compliance with the directive, he said NGF had done seven clubs across the country in the past two weeks while the remaining three- Port Harcourt, Enugu and Asaba were awaiting integration. He said that Ikoyi, Kano and Ikeja that bypassed NGF by making direct contact with R &A regarding the process were referred back to the Nigerian

federation. “The Handicap system is the latest software in the whole world that will enable every Nigerian golfer to be licensed with his Handicap Document. I can assure you in the next two, three months, Nigeria will be fully integrated into the WHS system,” the NGF Boss said. Runsewe, who is the DG National Council for Arts and Culture, said Nigerian club golfers that are captured on the system will have their handicap recognized on the software in any part of the world. “About five countries in Africa have fully integrated into WHS and Nigeria has been waiting to key into it. By next week, we will send the Excel and other documents to R&A that has seen the level of seriousness from Nigeria. “Every golfer will have his own index which can be linked up to his or her telephone number. This exercise will also eliminate all forms of cheating in golf”. Apart from rating golf courses in the country, the WHS will also harp on the need for greens to comply with international best practices, particularly on their size which should be at least 400 metres square and above.

Kylian Mbappe, Neymar and Lionel Messi are all expected to feature for PSG against Real Madrid...tonight.

PHOTO: Getty Images

Ghana Fail in Bid to Field Hudson-Odoi against S’Eagles Femi Solaja with agency report

As both Nigeria and Ghana continue to pile up weapons for the two-legged World Cup playoffs scheduled for next month, the Black Stars have failed in their quests to make Chelsea winger, Callum HudsonOdoi to switch nationality from England to the West African nation. Nigeria last week succeeded in getting Leicester City winger and former England

W O R L D C U P P L AYO F F S junior international, Ademola Lookman, to switch nationality and add up to Nigeria’s ‘arms pile-up’ ahead of the likely volatile confrontation. Various sources in Ghana revealed all efforts to make Hudson-Odoi to switch to Ghana have failed. President Nana Addo Dankwa Akufo-Addo had last year commissioned both the sports

minister and the Ghana Football Association (GFA) to convince Hudson-Odoi to play for Ghana. Hudson-Odoi is leaving his options wide opened as he ponders on whether to play for England or Ghana at the 2022 World Cup in Qatar. UK’s Evening Standard shortly after Chelsea’s triumph in the FIFA Club World Cup at the weekend wanted confirmation

from Hudson-Odoi if he was sent to switch to Ghana: “I don’t know. At the end of the day, we will wait until that time comes. At the same time, I’ve just got to focus on the club until we get that far.” Hudson-Odoi was initially rumoured to have pledged to Ghana of his availability for the all-important clash with the Super Eagles of Nigeria following a meeting between his father and Technical Advisor of the Black Stars, Chris Hughton.

Okocha Excited as BetKing Hands out New SUVs to AFKON Campaign Winners Brand Ambassador of Leading sports & digital entertainment company, BetKing, Austin Jay Jay Okocha, was excited on Sunday when two of the winners of the AFKON campaign were rewarded with brand new SUVs. The campaign, tagged #ThatAFKONFeeling was launched in January as part of the company’s efforts to celebrate African football and reward BetKing customers during this year’s edition of the Africa Cup of Nations (AFCON). The glamorous car presentation ceremony which took place at Ikoyi, Lagos on Sunday had key stakeholders in attendance including Nigerian football legend and BetKing Brand Ambassador, Austin J.J. Okocha, BetKing

and KingMakers executives, and media. The cars were presented to the winners – Joseph Ezugwu from Anambra State and Ugochukwu Nwagbo from Edo State by Austin JJ Okocha and Oladipo Olasope, Chief Financial Officer, Kingmakers. Speaking at the event, Oludare Kafar, Head, BTL Marketing, Kingmakers, said, “It’s been an exciting past few weeks and we are glad to wrap up the AFKON campaign in grand style as we reward two of some of our winners with brand new car prizes. “At BetKing, we are deeply committed to celebrating African football and rewarding our customers, hence, we look forward to future initiatives such as this.”

He admitted that BetKing was searching for the third winner to collect the remaining brand new car. “As you can see, for this campaign, there is still one more brand new SUV available to be won, and we are on the search for the winner. We urge our customers to partake in this very exciting promo to stand a chance to win the third JAC SUV,” Oludare added. In addition to the cars, the three winners will also be receiving exclusive BetKing jackets officially signed by J.J. Okocha. One of the winners of the cars, Joseph Ezugwu, said, “I am beyond excited and very grateful to BetKing for my brand new SUV. Today, I truly feel like a king and I owe that to BetKing.”

L-R: Head, BTL Marketing, Kingmakers, Oludare Kafar; Winner, Ugochukwu Nwagbo; BetKing Brand Ambassador, Austin J.J. Okocha; Winner, Joseph Ezugwu; and Chief Financial Oﬃcer, Kingmakers, Oladipo Olasope, at the BetKing AFKON car presentation ceremony which held in Lagos ....recently

Tuesday, February 15, 2022

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CSOs to Buhari, Malami

‘’Nigerians will never forgive Buhari and Malami, if their coup against …the new electoral bill to become operational. Buhari–Malami have demonstrated to be unrepentant apologists of autocracy; they are insensitive to the actual public mood and interest in the electoral bill, because they want to maintain their grip on the system while dictating the electoral pace.”---ExecutiveDirector,AdoptAGoalforDevelopment Initiative,Ariyo-DareAtoye,beratingtheduo,ifBuharirefusestosignthenewbillintolaw.

TUESDAY WITH REUBENABATI abati1990@gmail.com

Supreme Court And Executive Order 10: Matters Arising

n Friday, the Supreme Court of Nigeria in a split decision voted 6-1 to nullify Executive Order 10 through which the Federal Government of Nigeria had sought in 2019, to give effect to Section 81 (3) and Section 121(3) of the 1999 Constitution, as altered by the 4th Alteration Act No. 4 of 2017, with regard to the financial autonomy of state judiciary and legislature which had been observed more in the breach by state governments and their Chief Executives. The Governors of the 36 states of the Federation had kicked against the Executive Order as an abbreviation of their rights under the 1999 Constitution. Collectively they elected to go to court, and hence asked the Court (a) to declare the Executive Order 10, unconstitutional and illegal; (b) compel the Federal Government to take up funding of capital projects for State High Courts, Sharia Court of Appeal and Customary Court of Appeal, and (c) refund to the 36 states a sum of N66 billion, being amount which they claimed to have spent on capital projects for the three courts in their respective states. To resolve the matter, the Supreme Court in addition to its panel of seven Justices invited five Senior Advocates of Nigeria (SANs) as amici curiae (friends of the Court). On Friday, the court ruled 6-1 that the Executive Order 10 is ultra vires, unconstitutional, illegal, and therefore null, void and of no effect whatsoever. Their Lordships also resolved, 4-3 that the 1999 Constitution already expressly spells out the responsibility of the states and the Federal Government concerning the funding of the State High Courts, Sharia Court of Appeal and the Customary Court of Appeal, even if it is silent on capital projects. In sum, the Supreme Court rejected the request of the Attorney General of Abia State and 35 others with regard to the aforementioned (b) and (c) parts of their prayers. Many commentators have so far tried to be diplomatic in their response to the ruling, but from the outcome as reported, it is not difficult to see that what the Supreme Court has done is to take a technical view of the matter and offer a strict interpretation of the Constitution, the powers of the President, the relationship between the states, and the limits of the Federal Government in the exercise of its powers as spelled out in the 1999 Constitution. Did the President of Nigeria actually act ultra vires? Justice Mohammed Dattijo, delivering the lead judgment declared that “This country is still a Federation and the 1999 Constitution it operates is a federal one. The Constitution provides a clear delineation of powers between the state and the Federal Government. The President has overstepped the limit of his constitutional powers by issuing the Executive Order 10. The country is run on the basis of the rule of law.” Okay. The law is what the judge says it is. The powers of the various tiers of government are defined in Sections 4, 5, and 6 of the 1999 Constitution pursuant to the doctrine of the separation of powers. Executive powers are vested in the President in Sections 5, 130, 132, 148(1), 151 such that in general, the President of Nigeria is one of the most powerful executives in the world invested literally with the status of a constitutional monarch. In Section 130 (2), he is actually described as “the \Head of State, the Chief Executive of the Federation and Commander-in-chief of the Federation.” The strong effect of the ruling by the Supreme Court in A.G. Abia and 35 ors vs. AG Federation is that there are limits to these powers, nonetheless. By seeking to enforce and extend Section 121(3) of the 1999 Constitution, the President, in other words, encroaches on the right of state governments to receive money from the Federation Account on behalf of the state judiciary and legislature and

Chief Justice of Nigeria, Ibrahim Tanko Muhammad transmit their share to them. Thus, the Federal Executive overreaches itself when it assumes it has the powers to strengthen Section 121(3) through what amounts to additional legislation. It is the duty of the legislative arm of government to make or amend laws under Section 6. EO 10 further amounts to an interpretation of the law by the Federal Government and that Executive arm of government acting as adjudicator. The powers in that regard belong to the judiciary under Section 6. So, while the EO 10 would have protected the judiciary against the rascality of state Governors riding roughshod over the judiciary and the legislature at the sub-national level, and the judiciary would have been a beneficiary of the order, their Lordships looked beyond benefit to the judiciary and took a strictly purist and technocratic view of the law. It would be wrong to assume that the judiciary has ruled against itself. If the Federal Government is allowed to overreach itself and the President permitted to usurp the functions of the legislature and the judiciary, that would be a prescription for anarchy and an endorsement of dictatorship. The lead judgment emphasizes the rule of law, separation of powers, the limits of powers and the federal principle. I would like to see the state legislatures begin to perform their oversight functions, to call over-bearing Governors to order. The judgment has also been described as victory for the Governors. It is most ironic that these same Governors are benefiting from a principle they themselves do not respect, an emphasis on the rule of law they have no regard for. In various states, Nigerian Governors are worse than tyrants. They seek to control judges, bribe them, humiliate them and violate their independence and integrity. It will be recalled that in one state, Cross Rivers State to be specific, magistrates not too long ago – January 2021- carried placards and organized protests because their salaries had not been paid for 24 months and nothing had been done to provide them good working conditions. State Governors also intervene unnecessarily in the appointment of judges, and seek to compromise them. As for the State legislatures, state Governors preside over them remotely. They behave like messiahs with the control of everything else. State

legislatures in Nigeria are in any case pathetic. The members behave like the Governors’ houseboys, especially when the Governor’s party has the majority in the House. I argue that although the 36 State Governors may have secured partial victory in the matter of EO 10 with the Federal Government, but they lack the right to claim any moral high ground. The judex may never at any time go to court to sue the state Executive arm of government, that would be strange but the abuse of privilege by state Governors actually got so bad, that in 2015, the Judicial Staff Union of Nigeria (JUSUN) went on strike for two weeks. In 2020, they shut down the courts for 64 days. State Governments hurriedly signed a Memorandum of Action (MoA), the National Judicial Council also made an appeal before the strike was suspended. JUSUN asked for financial autonomy for the judiciary. The body insisted on compliance with the Constitutional provision which places the budgets of state judiciary as a first line charge on the Constitution. They have a point.. I would also like to see the state legislatures begin to perform their oversight functions, to call over-bearing Governors to order. What the Governors do to Local governments is even worse. They rely on the powers of control conferred on the state government under Section 7 to render local councils totally ineffective. Governors decide on whether elections would hold at that level of government or not, and when they frustrate due process they appoint sole administrators or caretaker committees. They hide under the State-Local Government Joint Account and the associated committees to steal money meant for local councils. They get away with blue murder because nobody challenges them. To put the matter in perspective, the Federal Government in 2019 introduced Executive Order 10 to correct the wrong being committed by the State Governors. It also introduced through the Nigeria Financial Investigation Unit (NFIU) a set of guidelines to ensure that state Governors would no longer withdraw monies meant for local council operations from the Joint Account (Section 162 (8)). Daylight robbery of local council resources is one of the reasons the local level of government is virtually dead. The big obstacle against the attempt by the Federal Government to enforce the fiscal autonomy of the local councils was again, the law. This is relatable to the minority judgment by Justice Uwani Abba-Aji who maintained that the EO 10 was in order “because of the hankypanky and subterfuge played by state Governors against the independence and financial autonomy of state judiciary…This is not unconstitutional.” There has been a tendency to play down this minority view. On Sunday as anchor of ThisDay Live: The Sunday Talk Show, I had tried to bring up the matter with one of my guests, the legendary Chief Robert Clarke, SAN. Chief Clark had admonished me not to even mention the judge’s name not to talk of offering a summary of his position. But Justice Abba-Aji enjoys the support of Professor Itse Sagay, SAN, who deserves to be quoted at some length: “I just read the judgment” he said. “I was out of the country. I just want to say broadly that I agree with Justice Abba-Aji, the minority judgment. The reason is that the constitution makes it clear that the legislative and judicial branches of state government are to get specific sums of money from what goes to the state. And if the state governors are not making them to have it, all that the executive order has done is to facilitate the implementation of the Constitution. And that is what executive orders are supposed to do. So, the Federal Government was right and I agree with the minority judgment entirely.” What are we dealing with here: form vs substance, the law as it is vs. the law as it

ought to be? What is the minority opinion based upon? Was Justice Abba-Aji offering an opinion rather than a strict construction of the law as it is? But whatever it is, the Supreme Court is the apex Court of the land, and the majority decision carries the day, more so as it is focused on the very substance of EO 10. The Nigerian President is empowered to give orders, and in this regard, there can be a recourse to Section 315(2) of the 1999 Constitution, but this particular section states clearly that the President can only act “in conformity with the provisions of this Constitution”, certainly not in breach of it. The Buhari administration has adopted Executive Orders, the first administration to do so in Nigeria in a manner that looks like a copy-cat imitation of the American Donald Trump’s Presidency. Within the first five months of his assumption of office in 2017, Trump had signed 37 EOs! But even in the US, Executive orders are administrative handmaidens to facilitate the execution of policies within the Executive arm of government, commands to Ministries, Departments and Agencies (MDAs) as instruments of management or to prepare a framework for proposals to the legislature, but certainly not an attempt by the Executive to usurp legislative and judicial functions. To date, the Buhari administration has proclaimed more than 10 Executive Orders. A close scrutiny may reveal that most of them would pass the test. These would include EO 1: on the promotion of transparency and efficiency in the Business Environment; EO 2: On Submission of Annual Budgetary Estimates by all Statutory and non-Statutory Agencies, including Incorporated Companies wholly owned by the Federal Government of Nigeria; EO 3: Support for Local Content in Public Procurement by the Federal Government; EO 4: On the Voluntary Assets and Income Declaration Scheme (VAIDS); EO 5: to promote local content in public procurement with science, engineering and technology components, and to prohibit the Ministry of Interior from issuing visas to foreign nationals whose skills are available in Nigeria; EO 6: on assets connected with corruption and other related offences; EO 7: On Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme; EO 8: On Voluntary Offshore Assets Regulatory Scheme, EO 9: On Companies Income Tax. The problem with EO 10 as appropriately pointed out by the Supreme Court is its breach of constitutional provisions. It seems to me therefore that Executive Orders are not necessarily in themselves bad; they are good only to the extent that they are in conformity with the basic law, that is the Constitution. Every affirmation of the supremacy of the rule of law is a good sign, but all parties concerned, including the apex court must be seen to be consistent accordingly, and prepared to embark on judicial activism, beyond narrow technicality, for public good, when required to do so. The ruling under review thus throws up more questions than answers: how do we truly ensure the independence of the co-equal parts of government? How do we prevent cynical elements from violating the laws of the land because it is expedient to do so? There are many Nigerians who believe that the 1999 Constitution is the biggest problem of Nigeria and that the Constitution needs to be replaced with a people’s Constitution forged and agreed upon under a democratic dispensation. They also think that for as long as Nigeria is unable to find the political will and the right political leaders to promote unity and national loyalty, so long would the lawmakers and the judex continue to talk about the rule of law in vacuo. In that sense, the Supreme Court ruling under review has not solved any problem. It is instead, a strong reminder, of the inchoateness of the Nigerian essence.

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