Issuu

Again, NNPC Apologises to Nigerians, Reveals Five Vessels of Substandard Fuel Rejected Assures petrol supply will be restored next week

Udora Orizu in Abuja and Peter Uzoho in Lagos

Group Managing Director and Chief Executive Officer of Nigerian National Petroleum

Company (NNPC) Limited, Mr. Mele Kyari, yesterday apologised to Nigerians for damages caused

by the importation of substandard fuel into the country. Kyari assured Nigerians that normalcy would

return to petrol stations by next week, saying the national oil company has taken necessary steps

to restore supply in the country. Continued on page 41

FT Report: Nigeria’s Gas Ambition May Collide with Global Banks’ Plan to Cut Hydrocarbon Financing…Page 43 Thursday 17 February, 2022 Vol 27. No 9809. Price: N250

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White Paper on Ikoyi Collapsed Building: Lagos to Prosecute Developer, Fourscore Heights... Page 8

Police Report to AGF Says KyariViolated Code of Conduct for Law Enforcement Ofﬁcers How he earned loyalty of IRT operatives Marwa: His arrest a clear message of NDLEA’s commitment Chiemelie Ezeobi in Lagos, Kingsley Nwezeh in Abuja and Michael Olugbode in Abuja The police report on the suspended

Deputy Commissioner of Police (DCP), Abba Kyari, which was submitted to the Attorney General of the Federation (AGF) and Minister of Justice, Mr Abubakar Malami,

(SAN), concluded that the conduct of the police officer violated the law and code of conduct for law enforcement officers. The report maintained the

embattled officer violated the law and the code of law enforcement officers in his dealings with internet fraudster, Ramon Olarewaju aka Hushpuppi, adding that a total

of N279.120m flowed into Kyari’s younger brother’s bank account at various times. Also, more details have emerged on how Kyari earned the undying

loyalty of operatives of the elite group, the Intelligence Response Team (IRT), a relationship he was Continued on page 41

APC Governors Divided over National Convention, Choice of Consensus

Leaders now considering March Mustapha: February 26 sacrosanct

Iyobosa Uwugiaren and Chuks Okocha in Abuja The forthcoming convention of the All Progressive Congress (APC) has split governors elected under the political party into three different groups. THISDAY gathered that while the group of second term governors want the convention to hold as planned and are assiduously working towards settling for a candidate; the second group which is made up of mainly first term governors want the convention either postponed and a mechanism to return the Governor Mai Mala Buni-led Caretaker/ Extraordinary Convention Planning Committee designed so that Buni can continue. On the other hand, a third group of governors also want the convention to hold, and for Buni to continue or the convention postponed. However, THISDAY learnt that President Muhammadu Buhari met Continued on page 41

FLUTTERWAVE MAKING WAVES WITH $3 BILLION VALUATION...

Members of the Flutterwave Team in the Nigerian oﬃce. The company is currently valued at over $3 billion after raising $250 million in a Series D round. With more than 400 employees around the world including Ghana, USA, Kenya and South Africa, Flutterwave is the technology company enabling growth and creating endless possibilities for all.

FEC Okays $2.81bn for Railway Operational Materials… Page 5

THURSDAY FEBEUARY 17, 2022 •T H I S D AY

THURSDAY FEBRUARY 17, 2022 • T H I S D AY

THURSDAY FEBEUARY 17, 2022 •T H I S D AY

THURSDAY, ͹Ϳ˜ ͺ͸ͺͺ ˾ T H I S D AY

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

NEWS

AFRICA’S FIRST ALL-NATURAL FOAMING HAND SANITIZER... From L-R: Head of Service, Lagos State, Mr. Hakeem Muri-Okunola; Special Adviser, Sustainable Development Goals and Investment, Lagos State, Mrs. Solape Hammond, Managing Director, Environmental Science Hygiene, Nigeria, Mrs. Shola Adebowale; Chief Executive Oﬃcer, Environmental Science Hygiene, Nigeria, Mr. Sam Awolesi; and Attorney General and Commissioner for Justice, Lagos State, Mr. Moyosore Onigbanjo SAN, at the launch of PalmTree Hygiene, Africa’s ﬁrst all-natural foaming hand sanitizer.

FEC Okays $2.81bn for Railway Operational Materials Approves N4.96bn for NECO projects Bans use of generic domain addresses on official govt businesses Education minister flays ASUU strike Deji Elumoye in Abuja The Federal Executive Council (FEC) rose from its weekly virtual meeting yesterday with the approval of $2.1 billion for the procurement of railway rolling stocks and other operational materials as well as N4.96 billion printing contract for the National Examination Council (NECO). FEC also banned the use of generic domain addresses on official government businesses henceforth. Briefing newsmen after the meeting presided over by the Vice President, Prof. Yemi Osinbajo, at the State House, Abuja, Transportation Minister, Hon. Rotimi Amaechi, emphasised that the contract for the rail materials was necessary for the smooth running of the railway lines. He said: “I have an approval of the cabinet to procure rolling stocks, operational and maintenance equipment for the new railway projects corridors in Ibadan to Kano standard gauge and Port Harcourt to Maiduguri narrow gauge rail lines to the tune of $2,810,574,064.92, including 7.5 per cent tax. “Rolling stocks are consumables for the maintenance and operation of the railway. So, currently, anytime you hear of break down, which was discussed in the cabinet, it’s because maybe we have run out of rolling stock and we’ve also run

out of stock for the railway. “So, with this, we will replace all the rolling stock. They are essentially the consumables we use to maintain the trains, coaches and locomotives”. Also briefing, the Minister of Education, Mallam Adamu Adamu, disclosed that FEC approved a contract that would enable NECO print materials that are to be used for Senior School Certificate Examination (SSCE) at the cost of N4,965,986,573.89. According to him: “Today, the memo we presented from the Ministry of Education is a printing contract by NECO for the senior school certificate examination and the beneficiaries are nine contractors and the amount is N4,965,986,573.89. And it will be completed in eight weeks. And it is for the printing of sensitive, non-sensitive equipment and other ancillary equipment for the examination”. Commenting on the on-going strike by university lecturers, the minister said he was looking for members of the Academic Staff Union of Universities (ASUU) for declaring a one-month warning strike at a time the federal government was attending to their demands. Adamu, who expressed surprise at the industrial action, saying he had several times in the past summoned them with a view to resolving outstanding issues.

He stressed that if after several negotiations between ASUU and government, agreement was still not reached, it was no longer the fault of government. "ASUU, unfortunately, they have gone on strike and I am looking for them because all the issues are being addressed. "The last thing that happened was that our committee looked at their demands but there are renegotiations going on. They submitted a draft agreement which the ministry is looking at," he said. Adamu expressed concern that the decision by the union to go on strike was abrupt in the mid of negotiations. On the draft agreement with ASUU, he said: "A committee is looking at it. Immediately it finishes, the government is meant to announce what it had accepted.

The Senate yesterday confirmed nine nominees proposed by President Muhammadu Buhari as Commissioners of the National Population Commission (NPC) and National Electricity Regulatory Commission (NERC). The Commissioners included five for NPC while the remaining four are for NERC. The confirmation of the nominees was sequel to the consideration of two separate reports presented at plenary by the Committees on National Identity and National Population; and Power. The two separate presentations

were made by Senators Ya’u Sahabi Alhaji (Zamfara North) and Gabriel Suwam, who both Chair the respective Committees. The nominees were confirmed after the chamber considered the reports. The nominees confirmed as Commissioners of the National Population Commission included: Benedict Ukpong Effiong (AkwaIbom), Mrs. Gloria Fateya Izonfo (Bayelsa), Kupchi Patricia Ori Iyanya (Benue), Haliru Bala (Kebbi), and Eyitayo Oyekunle Oyetunji (Oyo). The four nominees confirmed as Commissioners of the Nigerian Electricity Regulatory Commission were: Dr. Yusuf Ali (North Central),

Adamu further said: "I can't give you time. I am ready to reach an agreement with ASUU now, but since I'm not the only one, I can't give you time but certainly we are going to reach an agreement very soon." The Minister also defended the discriminatory cut-off marks for southern and northern prospective Common Entrance admission candidates for Unity Schools, saying it was in line with the Federal Character principle. He said the policy would remain until such a time it is no longer necessary, saying: "I have nothing to say on that. I am not aware of any difference unless it is meant to satisfy the requirements of Federal character. I think federal character is required for the nation and it is accepted. There is nothing we can do about that. There would

come a time when it would not be necessary." On his part, Minister of Communications and Digital Economy, Ali Isa Pantami, who also briefed newsmen on FEC's approval for his ministry, declined to comment on claim by ASUU that the professorial rank awarded to him by the Federal University of Technology, Owerri (FUTO), was illegal. He however disclosed that Council approved the National Policy on the Government Second Level Domain, which he explained mandates federal public institutions, ministries, departments, agencies, and all government institutions to migrate from using generic domain in their websites and their emails to the government second level domain under government top-level domain.

FG Hinges Sugar Quota Allocation on BIP Implementation Refutes suspension of sale, production of sugar James Emejo in Abuja The federal government yesterday said going forward, the approval for raw sugar quota allocations to refineries would be strictly based on their commitment to the Backward Integration Programme (BIP) which they have signed onto.

Senate Okays Nine Commissioners for NPC, NERC Confirms executive director-nominee for NDIC Deji Elumoye and Sunday Aborisade in Abuja

Then suddenly, I heard them going on strike." Faulting allegations that he does not attend meetings with ASUU, Adamu stated: "ASUU will never say that. I always call the meeting myself. The meetings I didn't attend were those that happened when I was in hospital in Germany. "We want a peaceful resolution. The federal government is ready to meet them on all issues they have raised and if there are so many meetings and the gap is not closing, then I think it's not the fault of the government. "There is a solution to this. The negotiations are the solution and that is why I have said that I am surprised that ASUU has gone on strike." Asked if the government could reach an agreement with ASUU before the end of the 30-day strike,

Chidi Ike (South East), Mr. Nathan Rogers Shatti (North East), and Mr. Dafe Akpeneye (South South). The Red Chamber also yesterday, confirmed the nomination of Mrs. Emily Chidinma Osuji as Executive Director of the Nigerian Deposit Insurance Corporation (NDIC). The confirmation of the nominee followed the consideration of the report of the Committee on Banking, Insurance and Other Financial Institutions. Chairman of the Committee, Senator Uba Sani (Kaduna Central), in his presentation, said “the office of the Executive Director (Corporate Services) of the Corporation remains vacant following the end of the tenure of the previous occupant.”

This was just as the government also dispelled reports on an alleged suspension of sale or production of sugar in the country, a development which erroneously suggested that there was a sugar scarcity. The Executive Secretary/ Chief Executive, National Sugar Development Council (NSDC), Mr. Zacch Adedeji, said subsequent quota allocation would no longer depend on the size of refining capacity, but the extent to which operators have complied with the BIP policy which seeks to among other things limit importation of the commodity as well as create millions of jobs for Nigerians. Speaking at the formal presentation of the 2022 Presidential Approval for Raw Sugar Quota Allocations to Refineries, he said, allocations were given to operators as a way of rewarding them for efforts they have made in complying to the BIP adding “that is what the law says and that is what we are going to do going forward.” The meeting also had the operators reaffirm their commitment towards the faithful implementation of the backward integration policy. Adedeji said the stakeholders’ engagement was to further dissect and discuss critical issues bordering on the meaningful

implementation of the Nigerian Sugar Master Plan (NSMP) as well as share perspectives on emerging sectoral issues which are critical to the attainment of the sugar self-sufficiency target. The 10-year sugar roadmap which came into being on January 2013, was still far from achieving its main target of self-sufficiency though remarkable milestones had been recorded – and an extension of its implementation timeline approved according to sources. Adedeji said the council’s decision to make a public presentation of the approved presidential raw sugar quota was in furtherance of its commitment to transparency, honesty and accountability in the discharge of its duties as a government agency. He added that all BIP operators were by law mandated to operate strictly within the provisions of the master plan which is no longer a policy but now an Act of the National Assembly following its amendment in 2015. Threatening sanctions against operators, he said, “We shall no longer condone or tolerate deliberate distortion of the master plan by anyone. I wish to at this point reiterate the Council’s firm position on the supremacy of the master

plan, which we see as the Quran and Bible of the sugar sector.” The NSDC boss stressed that the council remained fully committed to making the sugar sector environment more business-friendly and transparent in its engagement with existing and prospective investors through policy formulation and technical support. He said the President Muhammadu Buhari – led administration had demonstrated its profound interest in the sector in so many ways particularly by launching the $73 million irrigation infrastructure intervention fund recently. However, commenting on a publication in some sections of the media credited to BUA Foods on the suspension of sugar sales, the NSDC boss said given the strategic importance of the sugar value chain to the Nigerian economy, the “Council wishes to state that there is no known stoppage in sugar production by any of the operators as a result of compliance issues or on the council’s mandate”. He said, “On the contrary, we wish to state emphatically, that according to our records, Flour Mills Nigeria (owners of golden sugar) is in fact the best performing BIP operator in the industry.

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NEWS

ON THE SIDELINE OF EU-AFRICAN UNION SUMMIT...

President Muhammadu Buhari receives in audience President of Guinea-Bissau, Umaro Sissoco Embalo on the sideline of the EU-African Union Summit in Brussels, Belgium... yesterday

PHOTO: Sunday Aghaeze.

COVID-19: IMF Projects $13.8trn Cumulative Global Losses by 2024 Ndubuisi Francis in Abuja The International Monetary Fund (IMF) has lamented that economic indicators have continued to point to weaker growth momentum, due to the Omicron variant and persistent supply chain disruptions. It projected about $13.8 trillion in cumulative global output losses from the COVID-19 pandemic by 2024.

According to the IMF, the Omicron variant was the latest reminder that a durable and inclusive recovery was impossible while the pandemic continues, prescribing strong global cooperation and 'extraordinary agility.' In a new article titled: "Three Policy Priorities for a Robust Recovery," the IMF Managing Director, Kristalina Georgieva

observed that considerable uncertainty remained due to the virus post-Omicron, including the durability of protection offered by vaccines or prior infections, and the risk of new variants. She said as the G20 finance ministers and central bank governors gather in Jakarta, Indonesia physically and virtually, they could take inspiration from the Indonesian

phrase, 'gotong royong' (working together to achieve a common goal). Georgieva stated: "This spirit is more important than ever as countries are facing a tough obstacle course this year. "The good news is that the global economic recovery continues, but its pace has moderated amid high uncertainty and rising risks. Three weeks ago, we cut our global forecast

Flutterwave Making Waves with $3bnValuation Raises fresh $250m Flutterwave, one of the leading technology companies, yesterday announced that it has raised $250 million in Series D funding, valuing the company at over $3 billion. A statement revealed that with the fresh capital, Flutterwave has become the highest valued African start-up. “It is a validation of African talent, innovation and its young inspiring people. It is also a huge endorsement in the growth of the business, innovation and technology landscape in Africa. “Flutterwave’s latest backers include some of the world’s most respected investors led by B Capital Group, and with participation from Alta Park Capital, Whale Rock Capital, Lux Capital, among others. Several existing investors who also participated in previous rounds also followed this round, including, Glynn Capital, Avenir Growth, Tiger Global, Green Visor Capital, Salesforce Ventures,” it stated. According to the statement, the new funds would drive Flutterwave’s ambitious expansion plan to accelerate customer acquisition in existing markets and growth through M&A; and develop complementary products while encouraging new innovations in its products and services development. “The company will share more details during the Flutterwave 3.0 event. The virtual event is billed for 18th February 2022. Since inception in 2016, the Flutterwave team has been on a mission to create endless possibilities for customers and businesses in Africa and the emerging markets. The Series D fundraise comes on the back of an impressive run of five years in which Flutterwave has processed over 200M transactions worth over $16 billion to date across 34 countries in Africa.

“It also follows a year of rapid growth for the brand which now serves over 900,000 businesses across the globe. In 2021, Flutterwave launched a range of new products including Flutterwave Market for merchants to sell their goods via an online marketplace and, most recently, Send, a remittance service that empowers customers to seamlessly send money to recipients to and from Africa. “Flutterwave has also partnered with leading global and pan-African technology and telecommunication companies such as PayPal, MTN, Airtel Africa to drive financial inclusion on the continent and create endless possibilities for customers who can build customisable payment applications through its APIs,” it added. The Founder and CEO of Flutterwave, Olugbenga Agboola was quoted to have said: “Our story is that of resilience and hard work. Our growth so far is due to the support of our customers, our partners, the banks, the public, the regulators, and importantly our people. “The Central Bank of Nigeria, under the leadership of Dr. Godwin Emefiele, laid the vision of a transformational Payment System in Nigeria, provided the framework for innovation in this space, and has continued to create regulations that have enabled us to grow and thrive. “We are grateful to them and to all the other Central Banks in all the countries where we operate. We set out to build a platform that simplifies payments for everyone and today, our solutions are used across the globe to connect Africans to the world and the world to Africans. “We are delighted that investors believe in us and our story and are committing their resources

to this belief. This latest funding demonstrates the conviction of some of the world's leading investors in both our business model, team and the Africa technology market. “It gives Flutterwave the muchneeded support to deliver on our plans to provide the best experience for our merchants and customers around the world.” On his part, Partner at B Capital, Matt Levinson, said: “At B Capital, we seek to back generational companies with broad platform potential. Flutterwave has a unique opportunity to accomplish this as the dominant payments’ infrastructure provider across Africa. “In addition to their emergence as the leading enterprise payments processor for the continent, Flutterwave is innovating at breakneck speed with novel fintech solutions for large corporates, SMEs and consumers. I’ve had the pleasure of backing this world-class team since 2017 and couldn’t be more thrilled that B Capital is leading their Series D. “Flutterwave may ultimately build one of the most consequential fintech business in the world, enabling hundreds of thousands of merchants to transact online and connect Africa to the global economy.” Also, David Glynn, Managing Partner of Glynn Capital, said: “We believe the digitization of payments globally is one of the largest and most important trends in technology. Having been investors in Flutterwave since 2017, we have had a front row seat in seeing Flutterwave establish itself as a leading payments company in Africa as it drives adoption of seamless digital payments experiences for merchants and consumers alike. “We look forward to supporting the company as it addresses its

significant growth opportunity in the years ahead.” This latest fundraising has seen Flutterwave’s valuation more than triple since its last funding round in March last year when it became one of Africa’s fastest growing Unicorn.”

to a still-healthy 4.4 per cent for 2022, partly because of a reassessment of growth prospects in the United States and China. "Since then, economic indicators have continued to point to weaker growth momentum, due to the Omicron variant and persistent supply chain disruptions. Inflation readings have been higher than expected in many economies; financial markets remain volatile; and geopolitical tensions have sharply increased." The IMF chief executive said the global community must work together to end the pandemic, navigate monetary tightening and shift focus to fiscal sustainability. She listed three policy priorities for a robust recovery, including broader efforts to fight what she described as ‘economic long-Covid’, as countries navigating the monetary tightening cycle, and the need for countries to shift their focus to fiscal sustainability.

She noted that the best defence was to move from a singular focus on vaccines to ensuring each country has equitable access to a comprehensive COVID-19 toolkit with vaccines, tests, and treatments. "Keeping these tools updated as the virus evolves will require ongoing investments in medical research, disease surveillance, and health systems that reach the “last mile” into every community. "Upfront financing of $23.4 billion to close the ACT-Accelerator funding gap will be an important down payment on distributing this dynamic toolkit everywhere. Going forward, enhanced coordination between G20 finance and health ministries is essential to increasing resilience—both to potential new SARS-CoV-2 variants, and future pandemics that could pose systemic risks," Georgieva stressed. According to her, ending the pandemic will also help address the scars from economic long-COVID.

Lumumba: Nigeria is Missing Link to Africa’s Greatness Says African leaders are hypocrites Folalumi Alaran in Abuja A former director of the Kenyan anti-corruption agency, Prof. Patrick Lumumba, has described Nigeria as the missing link to the greatness of the continent. He, however, blamed African leaders for the growing insecurity and economic problems on the continent. He specifically chastised the leaders for discussing trivialities during the recent African Union (AU) summit in Addis Ababa, Ethiopia. Speaking at the 20th anniversary of Stefanos Foundation on Wednesday in Abuja, Lumumba, blamed the challenges to Africa’s greatness on the problems of leadership structure and institutional corruption. The anti-corruption czar, who delivered a lecture on "Census 2022: Concerns for Internally Displaced Persons and Implications on the 2023 general elections " maintained that Nigeria was a missing link to Africa’s greatness. "During the two day summit, I, like many Africans, waited to hear our leaders talk about the conflict in Africa, especially, Mali, Burkina Faso, about the insurgency in Nigeria, about the conflict in Central African Republic, Eastern Congo, Northern Mozambique,

Southern Cameroon, Sudan and different part of Africa. “But I only listen to them talk about whether Israel should have an observer status at the AU. Indeed, they did not stop there; they constituted a team of African heads of states whether Israel will have an observer status at AU. I was disappointed," he stated. He noted that the proliferation of IDP camps in the region, which should ordinarily serve as a temporary base but now permanent abode for many citizens was a result of lack of empathy from the leaders. According to the professor of law, time has come for Africans to ask themselves painful and uncomfortable questions. "We Africans have been nice to each other for too long. Now the time has come when we must speak the truth in all its nakedness that it will prick our conscience. "Many times, when I think about the continent of 54 countries each of which all has a government, army, police, defence ministry, I asked myself, why is my continent so insecure? Why is my kit and kin so traumatised, brutalised and abused but those who we give the authority and power to preside our affairs enjoy security like no other? "The tragedy of Africa is not that those in leadership do not

know. They know. I can assure you that they know better than what is contained in this report because in every African government there is a unit whose only duty is on a daily basis to deal with intelligence and security. But somehow nothing happens. "In the last few months I have been watching Africa. I have seen coups in Guinea, Mali, Chad, Burkina Faso and an attempted one in Guinea Bissau and I have seen those who are in position of leadership as president and who was once surrounded by security being humbled and almost been humiliated and i asked myself that do those in position know that it can happen to them? "I want to tell you that before it becomes better in this continent, I fear it will become worst. I fear it will become worst because when one look at Africa today, there are IDPs in every corner. Camps, which was supposed to be temporary has become permanent accommodation. Those who elect are seeing the suffering. Sometimes you wonder if blood flows through their veins.” While making reference to one of the works of the late foremost, writer and author, Chinua Achebe, Lumumba wondered how Africans at every election cycle foster on themselves dictators and yet they celebrate them.

THURSDAY FEBRUARY 17, 2022 • T H I S D AY

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NEWS

COOK AND TRADE DIPLOMACY... L-R: United States of America (USA) Ambassador to Nigeria, Mary Beth Leonard; Deputy Assistant Secretary, US Department of State, Akunna Cook and the Minister of Industry, Trade and Investment, Adeniyi Adebayo during Cook's visit to the Ministry in Abuja ...yesterday

Senate Probes Abandoned N400bn Health Centre Project Initiated by Obasanjo The Senate has mandated its Committees on Health, Primary Health Care and Communicable Disease, Works, and Housing to investigate the abandoned N400 billion National Primary Health Center Project initiated by former President Olusegun Obasanjo across the 774 Local Government Areas in Nigeria. The resolution was reached yesterday, during plenary by the chamber after it considered a motion to that effect. The motion, “Need to investigate the abandoned Four Hundred Billion Naira National Primary Health Center Project”, was sponsored by Senator Yahaya Oloriegbe (Kwara Central). Oloriegbe, in his presentation, noted that the National Primary Health Center project was initiated by the administration of former President Olusegun Obasanjo in 2006. According to the lawmaker, the project was to build in each of the 774 Local Government Areas in Nigeria, a sixty (60) bed Primary Health Center to be complimented with a three-bedroom flat, doctors’ quarters, an ambulance, all basic hospital equipment and drugs. He explained that, “in order to achieve this lofty project, the federal government deducted monies from the excess crude account of all the 774 Local Government Areas on a monthly basis, warehouse the same with the then Platinum Habib Bank (now Keystone Bank) until the funds required for the actualization of the project was realized; “Aware that the Bill of Quantities for the project was prepared by

the then Federal Ministry of Works and Housing and approved by the Bureau of Public Procurement; “Further aware that despite all those professional pre-contract activities, the contract for the execution of the projects in the entire 774 Local Government Areas was awarded to Messrs Mattans Nig. Ltd without any known tendering and selection process; “Observes that Messrs Mattans Nig. Ltd Proceeded and subcontracted out the jobs to consultant and sub-contractors without any verification of capacity and capabilities to properly execute the jobs a consent of the government or its agencies involved then; “Further observes that various sums of money were released to these sub-contractors through the accounts of Messr Mattans Nig. Ltd domiciled with the then platinum Habib Bank (now Keystone Bank) to carry out the projects at the selected locations across the 774 Local Government Areas in the Country; and “Disturbed that some of these projects were commenced and abandoned at various stages while majority of them were never started despite huge sums of money released to all the sub-contractors.” Contributing, Senator Sadiq Suleiman Umar (Kwara North), said that the delivery of good health care to Nigerians was an aspect that could ensure the development of the country. He observed that the recorded successes in health care delivery in developed climes were directly tied to the quality of primary health services.

“The key policy for primary health care in Nigeria is that every ward across the country must have a functional primary health care center where people can access health care delivery to be able to take care of maternal mortality rates that we are concerned about and other related health issues,” Umar said. He lamented that the National Primary Health Center projects dispersed across the various constituencies had been abandoned by the contractors, some of whom are unknown.

“We need to take this very seriously, investigate this and make sure we know exactly what happened”, he said. On his part, Senator Matthew Urhogide (Edo South), said the merit of the National Primary Health Center project cannot be downplayed in view of its importance to health care delivery in Nigeria. He added that the project was supposed to be the basis for the establishment of primary health centers in the 774 local government areas.

Senator Biodun Olujimi (Ekiti South), said the abandoned project was a “commitment to primary health gone wrong”. Accordingly, the chamber mandated the Committees on Health, Primary Health Care and Communicable Disease, Works, and Housing to investigate the abandoned N400 billion naira National Primary Health Centre Project initiated by former President Olusegun Obasanjo across the 774 Local Government Areas in Nigeria. It resolved that the investigation must determine the status of the 100

White Paper on Ikoyi Collapsed Building: Lagos to Prosecute Developer, Fourscore Heights Property to be forfeited to state govt, to demolish two other buildings Accepts 26 out of 28 recommendations by panel Segun James The Lagos State White Paper on the recommendation by the sixman panel set up by Governor Babajide Sanwo-Olu on the collapse of a 21-storey building on Gerrard Road, Ikoyi, has accepted the recommendations of the panel report that the owners of the structure, Messrs Fourscore Heights should be prosecuted and the property forfeited to the state government. THISDAY exclusively gathered that the state government has accepted 26 out of the 28 point recommendations of the panel even as the government would be demolishing the other two structures within the promises as test showed that they were constructed with

substandard materials. The panel had recommended that, "the developer, having been negligent, should forfeit the project site to the Lagos State Government in accordance with Section 25(4) of the Revised LABSCA Regulation 2019. The Developer, Fourscore Heights Limited should be prosecuted in view of the loss of lives involved." The White Paper also stated that, "the various participants should face disciplinary action and prosecution as applicable." The government had set up a four-man committee led by the Commissioner for Special Duties, Mr. Tayo Bamgbose-Martins, an engineer, as a first step to the implementation of the report submitted by the panel, which

investigated the collapse of the structure. A number of professionals were accused of incompetence and abuse of office. The government accepted the recommendation to report them to their professional bodies. Those people included engineers, town planners and surveyors. According to the White Paper, government employees who signed documents relating to the approval of the building project are to appear before the Civil Service Personnel Management Board for disciplinary action. The paper also accepted the recommendation of the panel that three employees of the state government who were town planners be indicted for perjury, alleging that they fraudulently

Constitution Review: We'll Protect Workers’ Interests, NASS Assures NLC Removing labour from exclusive list, invitation to anarchy, labour warns

Deji Elumoye and Sunday Aborisade in Abuja The National Assembly yesterday assured Nigerian workers that their interests would be protected in the review of the 1999 constitution currently being undertaken by the federal parliament. The Chairmen, Joint Senate and House of Representatives Committees on the Review of the 1999 Constitution, Senator Ovie Omo-Agege and Idris Wase, gave the assurances when the ad hoc panel hosted a delegation of the Nigeria Labour Congress (NLC) in Abuja. The NLC delegation was led by the President, Ayuba Wabba.

The NLC boss urged the National Assembly not to transfer core labour mandates from the exclusive to concurrent legislative list. Omo-Agege assured the NLC team that his committee members would not impose their personal views on Nigerians at the ongoing constitution amendment exercise. He said the panel would be guided strictly by best legislative practices, highest ethical standards, integrity, open mindedness, and patriotism in carrying out their assignments. Omo-Agege said the desire of every Nigerian was that the ongoing process produces positive transformations to the country.

percent project funds warehoused with the then Bank PHB (now Keystone Bank); determine the level of progress and status of the projects in each of the 774 Local Government; carry-out evaluation of the consultant, contractor and sub-contractors that participated in the project; carry-out a schedule of dilapidation on the projects; and recommend ways of completing the projects nationwide. The Joint Committee was given six weeks to complete the investigation and report back to the chamber in plenary.

He added that all hands should be on deck to enable the 9th National Assembly to bequeath to the country a constitution that speaks to every citizen’s yearnings and aspirations. He said, "Some have been making the case that there should be total devolution of anything labour not limited to just the core labour issues which is also inclusive of minimum wage. "For some of us, our position is very clear on the issue of the minimum wage. That to me is a no-go area not out of fear but out of the case you have laid as to why that must remain in the Exclusive Legislative List. He noted that there was no

cause for alarm, pointing out that once an area has been covered in the Exclusive List in the Constitution, no state legislature would be able to legislate on it. He said due to importance attached to labour, the committee thought it was wise to interact with labour leaders before the final vote on the floor of both legislative chambers at the end of February. Wase, on his part, emphasised that the National Assembly was wholeheartedly committed to upholding all tenets of International Labour Organisation Conventions that Nigeria is signatory to. "The committee would not do anything that would go against

internationally acceptable labour practices," he said. Wabba went down memory lane about the introduction of the minimum wage, noting that it would be difficult to come to the rescue of the private sector if states were allowed to fix their wages? The labour leader said for the sake of national interest, security and industrial harmony, labour should not be devolved to states, adding that the reason for Nigeria's relative industrial growth and development into investors haven are largely attributed to the willingness of the country to subject itself to international labour standards, norms and practices.

contrived a report claiming that it was based on the recommendation of a consulting firm. But upon investigation, it was found that they just put the names of the consulting firm in the report. The panel stated that they lied under oath as the company denied the said report. The men have been recommended to Directorate of Public Prosecution for prosecution. For lying under oath and committing perjury, they will be tried. However, the white accepted the recommendation that the power to seal up building sites that contravenes the state property laws should reside solely with the Lagos State Building Control Agency (LABSCA) and that all other agencies which exercised such powers in the past must now channel their enforcements right through the LABCA. It however rejected the recommendation that a political appointee who was accused of "over bearing" attitude against government officials should be sanctioned. Saying that this does not have any relevance with the issue of the building collapse. The recommendation that only qualified professional should be allowed to supervise all projects was accepted by government even as it accepted the recommendation that are beyond four floors should be handled by a committee. It however said this has been increased to structures over six floors. The governor had constituted the committee after receiving the report of the Panel at Lagos House, Ikeja. It was submitted by the chairman of the panel, Mr. Toyin Ayinde, a town planner. The building collapsed on November 1, 2021.

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COMMENT

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

THE OSHODI MEGABUS INTERCHANGE SCHEME The structure can be tweaked to make it more functional and efficient, reckons Gbenga Onabanjo

he Oshodi Megabus Interchange Terminal is arguably the biggest bus terminal in the whole of West Africa, and it is equally the most audacious. Put in proper context, Oshodi is at the intersection of the Apapa-Oshodi Expressway and Agege Motor Road. It is a conurbation of about 15 motor parks with an attendant record of over 5000 buses of various shapes and sizes trooping in on a daily basis. Over one million people go through Oshodi each day in an environment that is chaotic with high energy and mass markets, and a sea of heads streaming across the landscape like swarming locusts. The site location aptly describes the huge potential and the ready market for the siting of an organised and modern bus interchange, notwithstanding the chaos. After all, according to a famous writer, it is only that uniquely Japanese ability to manage chaos into order, for example, that makes Tokyo so different from many poorer Asian cities with similar basic structure. We waited with bated breath for this chaos to be turned to order; for the tiger to be tamed and domesticated. Somehow, Governor Babatunde Fashola tamed the tiger during his regime. He brought calm and serenity to Oshodi. He even gifted them with the most celebrated children’s recreational park in Nigeria. This project was not going to be easy because of the various factors that would come into play—social, economic and environmental. As it is common with politicians, they love cranes and will do all they can within their term in office to erect landmarks and build legacy structures. That set the tone for Governor Akinwunmi Ambode to build an inclusive, ethnic and diverse structure of Megabus Terminal for the citizens of Lagos at Oshodi and those passing through. The proximity of the location to the international airport offers a tremendous opportunity to use it as a transit for tourists and international travellers to move to

IT IS QUITE OBVIOUS THAT AS IMPOSING AS THIS STRUCTURE IS, THE DESIGN AND THE EXECUTION NEEDED MORE TIME TO RESOLVE THE VERY FINE DETAILS, WHICH ARE USUALLY WHAT GIVE LIFE AND SOUL TO A PROJECT

the airport and to other parts of Lagos. Within his first and only term in office, Governor Ambode was able to deliver a Megabus station that is contemporary, audacious, bespoke, but not relatable to the chaos and busyness of the neighbourhood. The intricate but sturdy steelworks find expression with the rustic nature of the environment, but the glass and aluminium stand out as a sore thumb, akin to putting new wine in an old wineskin. The attempt at cooling the entire structure may have been misplaced, as the big open spaces can afford to attract nature to allow natural air to flow by convection. It is quite obvious that as imposing as this structure is, the design and the execution needed more time to resolve the very fine details, which are usually what give life and soul to a project. The choice and texture of the deployed materials, particularly on the floor and wall surfaces, do not lend the station to easy maintenance. Perhaps a greater sense of adventurism could have been displayed by using bright and pastel colours to throw more life to an otherwise dreary and rustic environment. The structure in its current state is a good foundation that can be tweaked around to make it more efficient, functional and socially inclusive. Numerous spaces abound that beg for maximum utilisation. Similar projects in London at Kings Cross and also in Johannesburg at Brickfields offered an opportunity for urban theorists, sociologists, town planners, architects and transformational innovators to push forth their ideas and vision to harness the peculiarities of the neighbourhoods into a fit-for-purpose and a fit-for-the-environment scheme. More deliberate studies and interventions are therefore needed to make the Oshodi interchange functional, inclusive and to cater to the diverse needs of the teeming stakeholders. Mr Onabanjo is a Lagos-based architect, environmentalist, public commentator and the chief responsibility ofﬁcer at Go-Forte Foundation

THE PLIGHT OF FARIDA Eugenia Abu presses for the passing of the gender and equal opportunities bill

t has often bothered me that 26 years after we arrived Beijing and committed to the 12 critical areas of concern for the advancement of women worldwide that we are still talking about those things that undo us as humanity and disempower us as a nation. I was a proud delegate to the Beijing 1995 women’s conference and even then, conversations about giving women a fair and equitable chance to contribute to national development were met with all manners of obstacles but as Maya Angelou famously declared “Still we arise”. As a people, Nigerians are some of the most amazing in the world, big hearted and giving, communal and charitable and brilliant to boot. But our realisation of the role our women can play in pushing the nation forward still needs a lot of work. And therein lies the plight of Farida. I tell Farida’s tale in order for us to understand the power of supporting any process that improves the plight of women in our land. Yusuf could hear the groaning from his room. He turned severally on the bed unable to sleep. His wife Maimuna sat up; her nightshirt drenched in sweat. It was difficult for her to sleep as well. It was two years ago that they had agreed to marry off Farida, their first daughter to a man, about her father’s age. Farida had expressed her displeasure and told anyone who cared to listen that she wanted to go to school. Moreover, she did not like her suitor. But no one was listening. Her Father told her she would grow to like her suitor and explained further that it was for the family.

Do you want us to die in penury? Farida looked at her mother with pleading eyes. Her mother nodded consent and looked the other way. Now Farida’s husband, Mallam Musa did not want her anymore and the reason is clear. She was now an expendable individual, used and dumped. The groans from her room were sad and harrowing. At barely 16, Farida was just a child and went on to carry a child. The entire process overwhelmed her fragile biology and destroyed her life. At the hands of a traditional birth attendant with little knowledge, she suffered the worst tear, lost her baby and ended up with Vesico Vagina Fistula. This is an opening that develops between the wall of the bladder and the vagina which leads to continuous leakage of urine. And incontinence This abnormal opening can be caused by injury from prolonged labour, surgery or an infection. This injury caused by prolonged labour often occurs in young brides carrying a baby which their bodies are not capable of dealing with. In addition to the Fistula, Farida also suffered physical violence at the hands of her husband leaving a deep scar on her leg that caused her enormous pain. Add this to the stigma, the foul smell around her and the pain of no longer going to school. At only 18, Farida’s life has been cut short, school abandoned and the money the parents got from the marriage is not enough for her treatment and repair. Today as Farida wails, her parents look at each other in regret. Vivid as this story is. It is all true!

Who will help Farida and how can we stop this violence against our daughters? Worldwide one in three girls are subjected to one form of gender-based violence or the other but Nigeria has the third highest cases of child marriage and female genital mutilation numbers, globally. Statistics show that 8% of girls aged between 15 and18 are married before age 15, while 43% are married before age 18; in addition, girls between 0 and14 years have undergone one form of genital mutilation or another. This is a huge deprivation of girls who end up like Farida, unable to help themselves or contribute to society. How many persons in Nigeria really want their daughters to end up like Farida? I doubt that there are. Scholars and Medical Doctors, Stamakos et al, writing in the Indian Journal of Surgery in 2014 capture the most important factors contributing to Obstetric Fistulas in Africa as socio-economic.; early marriage, low social status for women, malnutrition and inadequately developed socio-economic infrastructure especially in poor areas. They put the prevalence of the disease in Africa and narrow it in Nigeria to the North. I am particularly concerned that domesticating international instruments concerning women’s issues in Nigeria continue to face obstacles that are difficult to fathom. The proposed gender and equal opportunities bill have made far reaching provisions for people like Farida and her parents. One of these provisions is found in section 13 captured under the title, the rights of persons living in rural communities. This

section provides for education for both men and women living in rural areas, particularly women to enable them benefit directly from social security programmes and obtain all types of training and education both formal and informal including that relating to functional literacy and opportunities through employment and self-employment. This section also provides for access to agricultural credit and loans, marketing facilities and appropriate technology for women. Can we all see the benefit to Farida’s parents and how Farida’s sad condition could have been avoided? No one would have needed to trade a girl-child for money. The proposed bill also advocates 18 years as the age of consent for marriage. I believe that if things are in place as they ought to be Farida would today be the pride of her family, marry well, assist her family because she is educated and contribute to a healthy family life which in turn leads to national development. No nation succeeds by using only half of its resources. Nigerian women are 49.32% of the population. Times are changing and our nation must also change with the times. We must retain those parts of our culture that are positives and begin to do away with the ones that bring sorrow to people like Farida and her family. Women hold half the sky. Let us support our wives, daughters, aunt’s and friends. It is possible if we pass the Gender and Equal Opportunities Bill. Abu, a Nigerian broadcast journalist, writer, poet and media consultant, wrote from Abuja

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EDITORIAL WIKE AND THE ILLEGAL REFINERIES The stakeholders could do more to stop the follies

n the past few weeks, Governor Nyesom Wike has been battling with illegal refineries in Rivers State with claims that some rogue law enforcement and military officers are involved. He also recently told residents of the state about his helplessness. More than anything, Wike’s claims suggest the federal government is not interested in dealing with this menace that has economic, security and environmental implications. Critical stakeholders should be concerned about this lingering problem that poses a serious public health challenge. Soot, an impure mass of carbon particles resulting from the incomplete combustion of hydrocarbons and extremely hazardous to humans, is one of the costs of the spun-out activities of illegal refineries in Niger Delta. Port Harcourt, and its environs have recently come under heavy soot coverage, forcing the governor to go after illegal refineries BEYOND THE FINANCIAL in his state. As we LOSS TO THE NATIONAL highlighted recently, ECONOMY, ILLEGAL there is urgent need REFINING HAS PUSHED for the government COMMUNITIES OUT OF THEIR to launch awareness TRADITIONAL SOURCES OF programmes on LIVELIHOODS. FISHING AND the harmful effect FARMING ARE NO LONGER of producing soot from these illegal VIABLE BECAUSE OF THE EFFECTS OF THESE SHARP refining activities, as well as the danger PRACTICES of being exposed to the particles. Several reports estimate that up to 150,000 barrels of crude oil are stolen every day from the Niger Delta, with vast volumes of this ending up in illegal refining facilities across creeks in the region. As recent as 2019, the Nigeria Extractive Industries Transparency Initiative (NEITI) disclosed that 42.25 million barrels of crude oil was stolen from the country, with illegal refineries as one of its beneficiaries. Yet, the federal government has rarely shown that it understands the problem and key drivers of illegal refineries in the region. Meanwhile, the United Nations Environmental Programme (UNDP)

Letters to the Editor

Environment Assessment report of Ogoniland (which is yet to be implemented) underlined illegal oil reﬁning in the region contributes immensely to the degradation of its environment besides poor pipeline maintenance by oil companies.

B 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

eyond the financial loss to the national economy, illegal refining has equally pushed communities out of their traditional sources of livelihoods. Fishing and farming are no longer viable because of the effects of these sharp practices. The water and land of the region is polluted by this activity so much that they bear or yield no resources to its people. As a result, many rural dwellers in these communities are increasingly forced to join in the activity to sustain their lives and families. This clearly shows the government’s failure to responsibly manage the country’s oil resources to benefit its people. A potpourri of factors drives and sustains the business of illegal refining in the Niger Delta. Governor Wike highlighted collaboration between perpetrators and officials of the country’s security formations like the Nigeria Security and Civil Defence Corps (NSCDC) whom he reportedly caught in the act, and members of the military joint taskforce who allegedly look the other way for perpetrators in exchange for cash. Whatever may the motivation of the principal actors, this cannot be allowed to continue. In 2018, the Federal Ministry of Environment linked the problem of soot enveloping the city to the operation of illegal oil refineries or kpo-fire (street language for illegal oil bunkering business) and their destruction. “There is a direct correlation between the level, intensity and composition of the soot and illegal oil refinery activities, including their destruction in the Niger Delta,” the ministry concluded. But addressing the problem requires that all stakeholders work together. As the most visible and direct impact of the illegal trade, the UNEP Environmental Assessment report was detailed in its description of the level of devastation this has left on the region. We believe that the best time to move against this horrible trade was yesterday. Nevertheless, the next best time is now!

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.

ABIA AND GOOD GOVERNANCE

bia State is number one in Nigeria in numerical sequence, but in terms of developmental indices, the ‘’God’s Own State” has taken the back stage over the years. The decadence is not a recent event, rather a cumulative effect of defective political structural imbalance under the ruling Peoples Democratic Party since the emergence of the fourth republic in 1999. To put it succinctly, the state which was once famous for entrepreneurship, industries and a beehive of economic activities suddenly started deteriorating, and the resultant effect is the absence of functional public utilities, closure of industries and total neglect of infrastructural facilities such as roads, provision of potable water and electricity. Perhaps the backwardness can be traced to the short-sightedness on the part of the leaders, and this lacuna has impacted negatively on the ability of the populace to reach their fullest potential. With the dawn of a new political era, it appears that things are about to change, especially as some of the visionary leaders from the state have woken up from their slumber, and are now poised to restore the state to its former place of pride. Lest we forget, Abia State was one of Africa’s leading industrial centres in the early 70’s and 80’s with the potential to uplift Nigeria as one of the fastest growing economies in the world. Gladly among the governorship aspirants from Abia State for the 2023 governorship election is one politician whose plans for the state stand out and resonate among the people is Dr. Chidia Maduekwe who has encapsulated his vision into four cardinal subject areas known as education, energy, economy and infrastructure. Suffice it to say that these core areas in which he envisages to anchor his administration if voted into office will rapidly transform the state. This transformation will be mostly noticeable in the three centres of Umuahia, Aba and Ohafia where he intends to create as mega cities. He plans to use

the four enablers as illustrated above to jumpstart the development of these industrial cities which economies will run for 24 hours, typical of what obtains in developed countries like United States, United Kingdom, among others. The economies of these mega cities will be lubricated with electric power sourced from natural gas which is in abundant quantity in the state, but which has remained untapped over the years. There is no doubt that this vision is realisable considering that the great societies of old were built by great men and women of vision who never capitulated in the face of daunting life challenges. The names of such personages from across the globe ring bell till this day. Winston Churchill of Great Britain, Abraham Lincoln and George Washington of the United States of America, Mahtama Ghandi of India, and others too numerous to mention here. The bottom line is that these were leaders who believed in themselves and the great potential of their respective societies, and they set to work for the glory and advancement of their countries. History therefore beckons today on the great people of Abia State to answer the clarion call by joining hands with their willing leaders to rescue the state from the albatross and underdevelopment quagmire which have stunted their growth and development. As the slogan of the condensed manifesto of Dr. Chidia Maduekwe clearly stated in ‘’ The Urgency of Now’’, the situation in Abia state ‘’demands immediate response’’ and it went further to say that ‘’there is no room for margin of error’’. Simply speaking the message is already reverberating among the people of the state as there is a new awakening and consciousness that time for the muchawaited renaissance has come and on no account will the people trifle with the opportunity to restore the state to its former glory as the fastest growing indigenous commercial centre in Africa. Chukwudi Enekwechi, Kwechis19@yahoo.com

NASS AND NIGERIA’S KILLING FIELDS

avid Pilling’s piece titled, “What Is Nigeria’s Government for?” will rub on the consciences of well-meaning Nigerians for a long time to come, that “long time” being the end of this Muhammadu Buhari administration in the short term. Mr. Pilling pointed out a truth that we all chose to willfully ignore, namely, the cost of governance eats up a great chunk of Nigeria’s miserly annual budget. Thus, to function, the government is essentially a bureaucracy of patronage. With this sort of patronage, the legislature is “caged” for INEC “watchet over anyone who criticises the federal government.” Now, members of Nigeria’s National Assembly (NASS) cannot take a motion to chide the president on surreptitious actions in the country’s killing fields of the Christian North because every single member of NASS hopes to return to the so-called “Green Chamber” or “Red Chamber” in 2023. Really, according to Mr. Pilling, there is good money to be made in Nigeria’s corridors of government. Sunday Adole Jonah, Department of Physics, Federal University of Technology, Minna, Niger State

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POLITICS

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

Umeh: Buhari Has Done Far More Than PDP in the S’East Former National Shairman of the All Progressives Grand Alliance and federal lawmaker that represented Anambra Central Senatorial District, Senator Victor Umeh shares his thoughts on issues of national interest with Charles Ajunwa

our party, APGA, has now produced three successive governors in Anambra State. That is a feat, considering the massive opposition you have faced. As somebody, who has been at the centre of the battle, how do you feel? In the last gubernatorial election in Anambra State on November 6, 2021, I am very happy that despite the challenges that faced that election, we were able to win the election resoundingly. I was deeply involved in the mobilisation of the electorate to vote for APGA. I have always been in the forefront of working hard to ensure that APGA does not lose Anambra State because the party produced its first governor in its fold in Anambra State and anytime the party loses the governorship election, it would signal the end of the party. I am always desperate that APGA will ever remain alive, no matter the challenges that would be on our way. I will put all that I can muster as a human being in terms of influence and experience to support the party to win the election. Last election happened to be one that was very testy. In other words, it was knotty and we had to prepare ahead of time to put in a candidate that will win the election. There were scrambles in the beginning but we didn’t lose focus. We had our eyes on the ball. We were determined to field a candidate that would beat the other candidates in public reckoning. So, we got Professor Chukwuma Soludo to be our candidate. We stood behind him very strongly and of

four years. We have done 16 years. Peter Obi did eight years and Willie Obiano did another eight years, and now, Soludo starting four years with a possible eight-year run in office. With that, I believe the party will continue to have hope to be able to expand its frontiers and getting to other areas but if we had lost the last election, it would have been a pipe dream to think about going to other places. With this victory that has come our way, we need to go back to the drawing board and work hard to take APGA beyond Anambra State. We have been in Imo but the former governor of Imo State, Rochas Okorocha misappropriated the victory we got there and frittered it away. We pray that if we break into other territories, that we will not suffer what Okorocha foisted on the party in 2013, when he went away from the party with our victory. Umeh

course, the messages we gave resonated with the people. He was actually seen as the best candidate among the lot. We are happy that in the end, we were able to overcome all the hurdles and he won the election. APGA is firmly in control in Anambra State. At least, for the next four years, that will make it the 20th year an APGA governor will be in office, if Soludo serves the next

You talked about the challenges before the election. Initially there were doubts whether the election was going to hold with the IPOB issue. The governorship election was later conducted and it was described as one of the elections that had the brightest and best in Anambra. What was your winning strategy apart from having a roundly qualified candidate in the person of Prof. Chukwuma Soludo? Our strategy was very simple; a consistent message. We had to continuously drum it to the ears of our people that since APGA came into Anambra State in 2006, through

Governor Peter Obi and Willie Obiano, that the party has served the people of Anambra State faithfully and passionately. We have been able to drive developments in the state in various sectors. Peter Obi did well as a governor when he was with us but his case was that of somebody, who came to start afresh. The state had gone through a lot of decay before APGA emerged in 2006. Before that time, Chris Ngige, who did not win the election was declared winner in 2003 before we went to court. He tried to work for Anambra people. I will always give it to him, but the circumstances of his becoming governor couldn’t allow his efforts to endure. There were crisis between him and his godfathers. He was not settled to do any work until the court removed him. If he had stayed longer, he had the zeal to work for the good of the state but because he didn’t have the mandate of the people, we didn’t allow him to stay. We ensured that we removed him because democracy is about getting into government through the will of the people- use their votes to become whatever one wants to be in a democracy. It does not matter the great things one wants to do. If a mandate is stolen and one wants to do good things with it, it won’t go down well. We persisted and persevered in our legal struggle against him and we got him removed. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Douglas-West: ‘It’s Ijaw’s Turn to Produce the Next Governor of Rivers State’ Anglican Priest and oil magnet, Rev Asoliye Douglas-West is an aspirant for the 2023 governorship election in Rivers State. In this interview with Mary Nnah, he speaks about how the Ijaw-speaking parts of the state have been sidelined in governance and stressed that the situation should be addressed in 2023

hat is your view on zoning in Rivers State? The Constitution governing our democracy does not recognize the sanctity of zoning of hierarchical political offices, but, the zoning principle is an extra-constitutional mechanism which evolved as an appropriate response to deal with moral conscience in enthroning equity and fairness in the distribution of political benefits to satisfy sentiments relating to our ethnic diversity. No matter how contiguous our geographical affinity might be, we cannot live in denial or be pretentious about the existence of ethnic diversities just as resource endowments are diverse. Since we have found a mechanism of pooling proceeds of economic resource exploitation into a commonwealth for redistribution among the entities, therefore it is a logical corollary that high ranking political offices should yield to a negotiated zoning formula. Perhaps this was why the writers of our Constitution introduced the federal character concept as a means of invoking balance in representation and some semblance of fairness and equity in the allocation of resources among the constituent entities. Rivers State is geographically dichotomised between an upland north and a littoral south with their peculiar physical features and topographies. Four prominent linguistic groups are recognisable within the ethnic diversities that make up Rivers State, which include the Igboid tribe (Ikwerre, Etche and Oyigbo), the Ogonis (Khana, Gokhana, Tai and Eleme), the Ijaws (Kalabari, Okirika, Bonny/Opobo and Andoni/Nkoro) and the Beninoid stock (Ndoni, Ekpeye, Abua/Odual. The Igboid, Ogonis and Beninoid stocks are located in the upland north while only the Ijaw speaking ethnicities are located in the riverine south. The

our diversity, the application of the zoning principle is a pragmatic way of guaranteeing inclusiveness and social justice.

Douglas-West

threesome of Celestine Omehia, Chibuike Amaechi and Nyesom Wike, all of whom are Ikwerre speaking have ruled as governors for a consecutive totality of 16 years shared among them. Peter Odili representing the Beninoid was governor for eight years. A disregard for the zoning formula and the political expediency that enabled and enthroned Nyesom Wike as the third governor of Ikwerre speaking extraction is apparently emboldening them to enact an agenda and act a script intended to perpetuate hegemony which is unconscionable to good moral conscience, equity and fairness. If and when we recognize

Despite the heterogeneous nature of Rivers States as you have laid it out, all the governors since 1999 come from one particular area, how do you feel about that? It is rather disinteresting, disquieting and disconcerting to witness a situation where one particular ethnic group had devised a stratagem of capturing and retaining power for 16 years in Rivers State without consideration for the political well-being of other constituent ethnicities. Using the advantage of incumbency, that same ethnic group is still unjustifiably wrangling and plotting to produce a candidate for the 2023 election. I am a strong proponent of a paradigm shift where compromises and negotiations would embrace themselves in favour of a candidate from the riverine south. I stand to be corrected; the riverine Ijaws have been very patient and understanding. It is the turn of the Ijaws to produce a credible candidate to be elected and serve as the next governor of Rivers State. It will be a demonstration of bad faith and insensitivity if our brothers upland should insist on satisfying their appetite for power by presenting another candidate for the governorship election in 2023. Their argument of possessing a higher voters’ population in Obio/Akpor is untenable and dubious. What will be your agenda for the people of Rivers State if you become governor in 2023? Often times we give priority to the wrong things. I wonder why the incumbent governor finds it fashionable to expend so much resource on constructing flyover

bridges in the Port Harcourt metropolis. This appears to me as heaps of concrete clutter. Things have to be done differently to fetch different results and change the narrative about governance. There is going to be a departure from the old ways of doing things. After nearly 24years of uninterrupted democracy we can hardly perceive or feel a meaningful impact of governance positively changing lives in Rivers State. Poverty is still very pervasive. We have to create a new message that emphasises value creation as the distinctive selling proposition with focus on investing in human capacity development, inventing new ideas to modernize the economy through knowledge and eco-tourism. Human beings are the most valuable resource any society can possess and developing the capacity of human resource should form the priority of any government. It is human beings that initiate and propel the knowledge-driven economy. Human beings build and work in factories. Human beings construct the roads and bridges. Human beings cultivate the farms. With a bold determination, I have unyielding conviction that the new direction to steer the state is investment in human capital that would be armed with the capability to create ideas, invent innovation and reduce poverty. Therefore, our agenda will prioritize human capacity development and to build brand new cities that would redirect the movement of population away from a congested Port Harcourt. Research and development, Supply chain logistics, Tourism and agriculture are other critical sectors that would receive preferences in the agenda. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

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FEATURES

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

Adedayo Isaac Akinrele: Life and Times of Nigeria's Glorious Diplomat, Researcher Bayo Akinloye

r (Chief) Adedayo Isaac Akinrele, MA (Cantab), FNIFST, was born in Ondo on May 19, 1934, to illustrious parents, the Venerable Archdeacon J.F. Akinrele, MA Classics (Durham), who was the second principal of Ondo Boys High School and founder of Independence Grammar school, Oka, Ondo. His mother, Mrs. Victoria Akinrele, was born a princess from the Akinkugbe royal lineage. He had three siblings: Mr. Olufemi Akinrele, MA (Finance), Chief Frank Akinrele, (LLM) (SAN), and Chief Marshall Akinrele, MA (Cantab), were all high achievers and highly regarded members of society. He began his primary school education at St. Stephen’s School, Ondo, after which he transferred to the preparatory class of the Ondo Boys High School. In 1947 he was admitted to Kings’ College Lagos, where he was the college organist and conductor of the school choir, amongst other honours. He won many honours at the school’s festival of arts. After passing the Cambridge Higher School Certificate in 1953, he was admitted to Cambridge University’s Selwyn College, where he graduated with honours in Natural Sciences and subsequently undertook Sciences Tripos in 1957. He excelled in sports and was a long jump champion winning college competitions. Following his graduation from Cambridge University, he completed a postgraduate course in food chemistry at the Imperial College of Science and Technology in London, which led to employment as an Analytical Chemist at J. Lyons and Co. in England. Following his English Chapter, Dr Akinrele returned to Lagos to work for the Federal Institute for Industrial Research Oshodi (FIIRO). He started as a Research Officer in 1959 and became Deputy Director in 1968 before being named the first Indigenous Director in 1970, a position he held until 1976. In addition to the degrees obtained at Cambridge and Imperial College, Dr Akinrele also obtained a PhD degree in Biochemistry from the University of Ibadan whilst working at FIIRO. At FIIRO, he initiated and led research into using Nigerian raw materials for local industries. An example of this is using hardwood trees from Ondo as raw materials for pulping paper at Iwopin. He also worked with his staff to investigate the malting characteristics of Nigerian grains, sorghum, millet and maise for the beverage industry. This enabled breweries in Nigeria to substitute imported barley malt with Nigerian sorghum malt. The creation of the food product Soy-Ogi through soya bean fermentation helped create an alternative to the expensive imported Nestle products like Cerelac, which at the time dominated the baby food market. Other successful research projects conducted during his directorship at FIIRO resulted in using cocoa butter for cosmetic creams, the moulding of local laterite earth into bricks and blocks for buildings and the mechanisation of cassava processing into garri. Dr Akinrele’s projects whilst being a Director of FIIRO saved the Nigerian economy an immeasurable amount of money. His achievements at FIIRO led to his European chapter as a diplomat. Starting in 1976, he was elected as the deputy director of the Centre for Development of Industry (CDI), signing the first Lomé Convention, which was a joint project between the European Union and the group of African Caribbean and Pacific countries (ACP), aimed at the industrial development of underdeveloped regions, including areas of Europe. After completing two terms as deputy director, he was elected director in 1985, a position he held until 1990. During his period at CDI, he helped in the establishment and strengthening of industrial enterprises and oversaw the identification of viable development projects, mainly focusing on the processing of local raw materials and optimising their factors of production. He promoted joint ventures and all forms of cooperation between ACP and European Union economic operators, focusing on small and medium-sized enterprises. Under his guidance, CDI gathered and disseminated information on the industrial potential of ACP states and the economic trends of their industrial sectors. He advocated for an economic environment that would stimulate foreign investment in the African Caribbean and Pacific countries. CDI was also able to organise contacts and meetings between industrial promoters, economic and financial operators in the EU and Enterprises in the 66 ACP states. They identified possible funding sources and assisted in their mobilisation

Late Akinrele

"He promoted joint ventures and all forms of cooperation between ACP and European Union economic operators, focusing on small and medium-sized enterprises. Under his guidance, CDI gathered and disseminated information on the industrial potential of ACP states and the economic trends of their industrial sectors" for industrial projects in the ACP states. In all, during his period as deputy director and director at CDI, he assisted in creating 191 industrial enterprises in the ACP states with funds sourced from European Union partners. During his tenure at CDI, the institution’s name was changed to CDE, Centre for Development of Enterprise. This was to reflect the global economic shift from a production economy to a service economy. In 2016, CDE was incorporated into the European Union’s development framework ceasing to exist as an entity. On a professional level, Dr Akinrele’s election as Director of CDI made him at the time Nigeria’s highest-ranking diplomat. Dr Akinrele received a number of honours for his work towards international development. In November 1988, he was conferred with the title of ‘Commander of the Order of Merit’ in Senegal for his contributions to the development of agriculture and industry in Senegal. There is the Akinrele Auditorium in Lagos dedicated to him by FIIRO in honour of his achievements during his tenure as director. He is cited in Africa’s 'Who is Who?' and also in the 'Who is Who?' of Western Europe. Amongst other professional achievements and accolades at various institutions, he was president of the Nigerian Institute of Food Science and Technology and acted as the

Nigerian delegate at the Assembly of the International Union of Food Science and Technology (1976-1978). He was a founding Fellow of the Nigerian Academy of Science (1977); a member of the American Institute of Chemical Engineers (1976); fellow of the Institute of Biology, U.K. (1978-1990) and member of the Faculty Board of the Institute of Applied Science and Technology, University of Ibadan (1972-1976). He was an editorial board member of ‘Engineering and Technology’ published by the Institute of Scientific Information, Philadelphia from 1976 onwards and an editorial board member of the International Journal of Food Science and Technology, Oxford from 1989 onwards. He published 62 scientific and technoeconomic papers, inventor four industrial patents and contributed to two books on indigenous fermentation technologies. His national and international assignments were manifold. He was a member of the Council for Science and Technology (1970-1975), chairman of the National Expert Committee on Protein Rich Foods (1972-1975), and chairman of the UNIDO preparatory global consultation meeting on food processing in 1979. After completing his mandate in

Brussels, he returned to Nigeria and retired from the civil service. He spent his retirement working on projects, consulting for Nigerian and international firms and institutions. He enjoyed travelling, spending time with his family, and pursuing his hobbies. He was a member of the Cambridge Society in Brussels and the Oxford and Cambridge Club of Nigeria. He enjoyed his membership of the Lagos Motor-Boat Club, where he was an active sailor in his younger years. In his later years, he treasured the company of friends, his elder brother, Chief Frank Akinrele (SAN) and cousin, Ambassador Omotayo Ogunsulire. On Wednesdays, he could be found enjoying the breeze and regaling themselves with rib-cracking jokes in Ondo dialect. He was known to be very fond of his cigars and had a passion for acquiring Jaguars. In his younger years, he could be seen driving himself along the boulevards of Brussels and the bustle of Lagos. Dr Akinrele was also a keen musician and played the piano masterfully. Chopin and Beethoven's classics were among the musical pieces he played. He was an avid sportsman and a member of the Lagos Lawn Tennis Club as well as Chateau St. Anne International Club in Brussels. He enjoyed continuous academic pursuits and learnt to speak French fluently in his forties. He was a hard worker who also knew how to enjoy life. He fostered long-lasting relationships and was one of the most dependable and honest of men. His word was his bond. He was a very charitable Christian who attended The Cathedral Church in Lagos. Along with his brothers Chief Frank Akinrele (SAN), Chief Marshall Akinrele and friends, he pioneered the Ondo Boys Club 75 to aid their hometown's development. The project was very dear to him in his final years. His dedication to his birthplace was reciprocated with a chieftaincy award of ‘Babajoko of Ondo Land’ by the king of Ondo. He was survived by his wife Funmilayo; children Lolade, Kayode, Bisola, Yewande, Kikelomo and Rotimi; and grandchildren Angela, Arin, Alex, Olaotan, Olamipo, Akorede and Akolade. He will truly be missed.

THURSDAY FEBRUARY 17, 2022 • T H I S D AY

THURSDAY FEBEUARY 17, 2022 •T H I S D AY

T H I S D AY ˾ THURSDAY, FEBRUARY 17, 2022

BUSINESSWORLD R A T E S MONEY MARKET

A S

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

08056356325

F E B R U A R Y

S & P INDEX

1 6 , 2 0 2 2

S & P INDEX

EXCHANGE RATE

OBB

14.00%

CALL

INDEX LEVEL

565.29%

1/4 TO DATE

6.06%

N412.08/ 1 US DOLLAR*

OVERNIGHT

14.50%

1-MONTH

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–0.11%

YEAR TO DATE

– 15.66%

*AS AT LAST FRIDAY

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With 2021 Scorecard, KPMG Urges Banks to Engage Customers with Digital Channels

Emma Okonji Relying on its 2021 Africa Digital Channels Scorecard report, KPMG Nigeria has stressed the need for retail banks in Nigeria to engage their customers with more digital banking channels that will boost customer experience in today’s digital era. KPMG gave the advice at a recent webinar, where it launched its 2021 Africa Digital Channels Scorecard for Retail Banking. The KPMG Digital Channels Scorecard unveils in-depth insights

into the state of user experience on retail banks’ digital channels, and based its report on 12 retail user journeys, clustered into five journey groups in Nigeria, South Africa, Ghana, Kenya and Senegal, across four digital banking channels, namely Mobile banking, Internet banking, Unstructured Supplementary Service Data (USSD) banking, and Chat banking (Chatbot). The report offered perspectives on how well the featured banks deliver on customer preferences, user experience design principles,

and the adoption of emerging digital technologies, such as Artificial Intelligence (AI) and Analytics, to drive better engagement and experience differentiation in financial transactions. The study employed KPMG’s Digital Channels UX Assessment Framework to evaluate and benchmark user experience across selected banks in five African counties, Nigeria inclusive. The 2021 edition featured a selection of 26 banks many of whom have Pan-African footprints across

the African continent. The banks surveyed are banks with a relatively large retail customer base in their respective countries and across Africa. The report, which grouped its findings into five thematic areas: Digital Onboarding, Payments and Transfers, Digital Lending, Self-service and Customer Care, also segmented the banks into four distinct categories: Leaders, Challengers, Followers and Late Starters. The report described leaders as those banks that understood the expectations of today’s customers

and offer a wide range of capabilities across the various user journeys to facilitate a wholly digital interaction that meets customers’ expectations. It described challengers as those banks that understood customers’ digital needs but failed to deliver a user experience that is engaging for the customers. It described followers as those banks that have limited capabilities on their digital channels to deliver digital interaction. The report also described late starters as banks that are yet to deploy digital capabilities for user

journeys on one or more channels. The report findings however showed that only one bank out of the 26 surveyed banks across Africa, consistently appeared in the leaders category, while another five banks appeared in the leaders category for three anchor journeys. The report said only six, which is approximately 25 per cent of the 26 banks surveyed, operate at the experience maturity levels demanded by the new generation Continued on page 27

How Global OEMs Connive with Overseas-based Distributors to Undercut Prices in Nigeria Emma Okonji Nigerian tech startups now in their hundreds are increasingly being frustrated by global Original Equipment Manufacturers (OEMs)

who connive with some overseas based distributors to ship their products into Nigeria without paying value added tax (VAT) and allied taxes. THISDAY investigation revealed

that Oracle, Microsoft, Dell EMC, a subsidiary of Dell Technologies, lead the OEMs, which collude with overseas based distributors to bring their products through some notso-opaque channels with intent to

evade taxes thus shortchanging the Nigerian government by undercutting prices of technology products sold in Nigeria. The connivance has made many Nigerian tech startups to be

frustrated out of business because they are not able to compete with the overseas based distributors after they have creamed off 7.5 per cent VAT on their products. Nigerian tech startups and the

nation at large, some Nigerian banks and large corporates have fallen under the trick of these distributors in patronage because Continued on page 27

ATAAAS SAT ATWWE EDDNNE ES SDDAY, AY,F A MMAAR RK KE ET TDDATA E BURGUUASRTY1116, ,22002212 ONNDDSS FFGGNN BBO DESCRIPTION 11.668 FGNSB 12.75 27-APR15-AUG-2021 2023 10.301 FGNSB 14.20 14-MAR16-AUG-2021 2024 11.150 FGNSB 13.53 23-MAR11-SEP-2021 2025 12.364 FGNSB 12.50 22-JAN12-SEP-2021 2026 12.175 FGNSB 16.2884 1710-OCT-2021 MAR-2027

BILLS

OTC FX F U T U R E S

100.09 106.80

3.16 6.70

Change Change (%) (%) 0.00 -0.01

100.10 111.10

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100.67 108.57

3.13 0.00 10.22

16-Sep-21 4.00 3.15 NTB 12-May-22

3.16 0.00 0.00 4.04

100.80 104.06

3.12 0.00 11.19

30-Sep-21 NTB 9-Jun-22

3.25 3.67

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NTB 14-Jul-22 14-Oct-21

3.35 4.30

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26-Aug-21 NTB 10-Mar-22

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9-Sep-21 NTB 28-Apr-22

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CONTRACT TENOR (MONTH) 1

Contract

Current Rate ($/₦)

AUG23 252022 2021 427.24 420.93 NGUS FEB

SEP 29 422.38 NGUS MAR 302021 2022 428.93

OCT 27 2022 2021 430.63 423.83 NGUS APR

3.26 0.00 0.00 3.71

NOV 25 24 2022 2021 432.32 425.28 NGUS MAY

3.37 0.00 0.00 4.38

DEC29 292022 2021 434.02 426.73 NGUS JUN

CCPs Ps MATURITY

Discount Discount Yield Yield Change Change(%) (%)

MREPCP CPVI XXXI UNCP 13-AUG-21 2-MAY-22 UNCPCP CPIIII 27NEVE 24AUG-21 MAY-22 VAAG CP II I 27DANC 25AUG-21 MAY-22 TTNG CP V II 2631TRBH AUG-21 JUL-22 SIBP CP 2-SEPFSDH CPIVI 21 1-AUG-22

9.02 9.50

9.03 9.69

4.26 17.03

4.27 17.84 0.00 0.00

10.20 9.54

10.25 9.79 0.00 0.00

4.59 12.35

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THURSDAY, FEBRUARY 17, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

ENSURING EASE OF DOING BUSINESS…

L-R: Member of the Cabinet of the Executive Vice President of the European Union, Alejandro Cainzos,; Head of Cabinet of the Executive Vice President of the European Union, Kim Jorgensen European Union Commission(Head of Unit-DG International Partnerships) Francesca Di Mauro; President of The European Business Chamber (EuroCham) Nigeria, Mary Ojulari; European Union Ambassador to Nigeria and ECOWAS, Samuela Isopi; European Union Delegation to Nigeria and ECOWAS (Head of Trade Section)John Taylor; European Union Delegation to Nigeria and ECOWAS (Head of Cooperation) Cecile Tassin-Pelzer; and the General Manager, Arla Foods, Peter Pedersent standing behind at the meeting between the European Union and the European Business Chamber in Nigeria held in Lagos... recently

Foundation Awards N4.7 Billion Grant to Boost Free Health, Education Services James Emejo in Abuja The TY Danjuma Foundation said it has so far awarded over N4.7 billion in grants for the implementation of 336 projects around health and education across the country. This is as it further announced the disbursement of N170 million grant to fund 16 projects in health and education across the country this year. The intervention will specifically attend to urgent humanitarian emergencies arising from health and education. The foundation’s acting Chief Executive, Gima Forje, said promoting access to quality and affordable healthcare as well as improving the quality of education remained the group’s thematic focus. He said over three million Nigerians in eight states, namely, Taraba, Edo,Oyo, Niger, Akwa-Ibom, Kaduna, Bauchi, Plateau–and the Federal Capital Territory (FCT) are expected to benefit from projects funded by the foundation in 2022. He added that the interventions had impacted over 10 million lives. Forje further pointed out that the foundation’s strategies for promoting quality healthcare included

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

supporting initiatives that reduce preventable blindness and improve vision, providing resources for projects aimed at reducing the burden of neglected tropical diseases (NTDs). Others include supporting

interventions that improve access to quality maternal and child health services in underserved communities, and providing resources to experienced organisation to deliver comprehensive free healthcare services at

the grassroots where there is a dire need of access to healthcare amongst ordinary Nigerians. He said the foundation is also investing in teachers’ training with a strategic objective of contributing to

improving the quality of teaching at the universal basic education level. He said the organisation works with reputable not-forprofit partners to conceptualise life touching projects that are implemented mostly in

hard-to-reach communities across the country. The foundation in February 2019 announced the disbursement of N197 million grant to fund 24 projects in health and education across the country.

Report: Despite Rise in Cyber Threats, Businesses Still Lack Strong Identity Protection Emma Okonji The latest Microsoft’s Threat and Data Research has revealed that though threats have been rising fast over the past two years, there has been low adoption of strong identity authentication, such as multifactor authentication and password less solutions. According to the research report, only 22 per cent of Microsoft’s Cloud Identity Solution, Azure Active Directory users, had implemented strong identity authentication protection as of December 2021. Highlighting username and password theft by hackers, the report said the average price for

1,000 stolen username password pairs is around $0.97, adding that securing 400 million username and password combinations in bulk will earn a cybercriminal around $150. The report further said username and password theft are on the increase, especially in Africa where businesses are often more prone to cyberattacks than companies anywhere else in the world. It cited another report, which ranked Nigeria third in Africa, experiencing 16.7 million cyberattacks and South Africa ranked first with 32 million attacks, followed by Kenya at 28.3 million. However, the consequences of a data breach are now front of mind for 64 percent of companies in the

Middle East and Africa (MEA) according to current Microsoft-IDC research. Microsoft said its latest Threat and Data Research report would help to push organisations in Nigeria to pay closer attention to digital identities, while confirming that user identities with an additional layer of security is a key priority over the next six to 18 months for 60 per cent of businesses in MEA. The report also said in recognising the danger that comes with remote work and increased digitisation, another 75 percent of companies in MEA are actively investing in identity and access management.

Giving details on how to implement zero trust to reduce risk, Microsoft, in its report, advised organisations to prioritise implementing zero-trust practices like Multi-Factor Authetication (MFA) and passwordlessupgrades as part of a security baseline, adding that they can begin with privileged accounts to gain protection quickly, then expand from there. The report, which explained how to prevent passwords falling into the wrong hands, said enabling MFA, remained an important weapon in fighting back. According to the report, “By so doing, your organisation

mitigates the risk of passwords falling into the wrong hands. You can take this a step further by eliminating passwords altogether and, at the same time, eliminating administrative privileges through passwordless MFA. “Though passwords are a prime target for attacks, they’ve long been the most important layer of security for everything in our digital lives. People are expected to create complex and unique passwords, remember them, and change them frequently, but this is highly inconvenient, and nobody likes doing that. Ultimately, a passwordless future is a safer future.”

Stitch Secures $21m Series ‘A’ Funding to Build Infrastructure for African FinTechs Emma Okonji API Fintech company, Stitch, has secured $21 million Series ‘A’ funding round, led by The Spruce House Partnership, to support its financial infrastructure project for the African Fintech sector. The round was led by The Spruce House Partnership, with participation from PayPal Ventures, TrueLayer, firstminute capital, The Raba Partnership, CRE Venture Capital, Village Global, Zinal Growth (the investment vehicle of Checkout. com founder Guillaume Pousaz) and others, including founders of Chipper Cash, Quovo and Unit.

Announcing the feat, co-founder and CEO of Stitch, Kiaan Pillay, said: “We are incredibly fortunate to be supported by some of the best investors, founders and builders in the Fintech space globally. They are working closely with us to enable the boom we are seeing in financial technology on the continent. Across the hundreds of customers we work with, big and small, we are witnessing a record pace of development of new financial products. Our goal is to help fast-growing Fintech and embedded finance companies more easily launch increasingly innovative and tailored products, expand into new markets and optimize their solutions, so they

can grow even faster.” Also, co-founder of The Spruce House Partnership, Ben Stein, said: “We have been following startups in Africa for many years. Our diligence was very clear that this is one of the most talented teams on the continent, and we are excited to be a part of what they are building at Stitch.” The Stitch API enables businesses to easily access and link their users’ financial accounts to initiate secure bank transfers for one-click pay-ins and payouts. It also helps to access standardised and categorised transaction history and balance data, for affordability checks and income estimation assessments, as

well as verify account information and ownership, to enable faster and more user-friendly digital onboarding, and to perform fraud checks. Startups in Africa raised a record $4 billion in 2021, with the vast majority, estimated at 62 per cent going to fintechs, and Stitch serves these fast-growing businesses. Its services ranges from wallet-based companies like Chipper Cash, Luno and Zapper, to financial services providers like ImaliPay, to subscription and e-commerce players like FlexClub, to PSPs and payment aggregators like Peach and Yoco. Director at PayPal Ventures,

Ashish Aggarwal, said: “Stitch is building critical infrastructure to enable faster, easier and more secure payments across Africa. We believe they will play a significant role in contributing to the overall growth of the Fintech space in Africa, and we are excited to be investing at this important moment in their journey.” In the last quarter alone, the company saw 44 per cent Manager of Managers (MoM) customer growth and a 72 per cent MoM increase in linked financial accounts on the platform. It had 104 per cent MoM growth in payments value since its launch.

How DEEL is Enhancing HR Businesses, Changing Unemployment Narrative Emma Okonji Global compliance and payroll solution, DEEL is changing the narrative in Human Resources (HR) businesses, while helping to drive a spike in new higher-skilled jobs across Africa. This is just as new statistics shows that the growth rate of hiring in the region has increased tremendously. According to recent statistics, the number of companies hiring in the region has now risen to 800 per cent

plus, year-on-year (YoY), which is more than double the hiring rate for countries outside the continent. Also, the number of contracts jobs for software engineers in Africa grew almost five times YoY. Citing instances of growth rate of hiring in other parts of the world, a report focused on tech and remote work by DEEL, showed that the growth rate of hiring across Latin America for positions like software engineer and account executive increased by 286 per cent in the

second half of 2021. Also in the Asia Pacific continent, the growth rate of hiring stood 227 per cent between July 2021 and December 2021 while the growth rate in the North America region stood at 208 per cent. The report noted that most of the new hires were located in Argentina, Brazil and Mexico, but competitive wages are also making companies take a closer look at Peru, Colombia and the Dominican Republic. The three year old company said

that it now has enough data from over 100,000 worker contracts to start looking at trends in global hiring, adding that it is particularly fascinated about Africa and the tech hiring boom going on in the region. The report pointed out that in the past six months, the number of contractors using DEELin Africa has doubled. According to the report, “Almost 10 per cent of payroll withdrawals from contracts in Africa are in

cryptocurrency while top countries in Africa where hiring is growing include Nigeria, South Africa, and Kenya.The company’s technology offers unmatched payroll, HR, compliance, perks, benefits, and other capabilities needed to hire and manage a global team. Using a tech-enabled self-service process, DEEL’s customers can hire independent contractors and full-time employees in over 150 countries, compliantly and in minutes.”

T H I S D AY ˾ THURSDAY, FEBRUARY 17, 2022

BUSINESSWORLD

E-BUSINESS

As Global Banks Move to Assess Digital Currency With the continuous rejection of bitcoins by most Central Banks around the world, the International Telecoms Union is of the view that the recent move by most Central Banks to assess the Central Bank Digital Currency (CBDC), is a welcome development that will address global cryptocurrency fraud, writes Emma Okonji

s the world embraces a cashless approach to transactions, digital currencies are taking centre stage, according to a news letter released recently by ITU, the United Nations’ agency responsible for all matters related to Information and Communication Technologies (ICT). According to report from the ITU News Letter, “In the wake of the COVID-19 pandemic, countries are moving increasingly to introduce digital forms of fiat money issued by central banks that can be used as legal tender. To date, 68 central banks around the world have announced they are assessing central bank digital currency (CBDC), and 28 have already launched pilot CBDCs.” The Central Bank of Nigeria (CBN), in October last year, launched the country’ digital currency called eNaira. CBN Governor, Mr. Godwin Emefiele, during the launch of eNaira, said the it would support a resilient payment ecosystem, encourage rapid financial inclusion, reduce the cost of processing cash, enable direct and transparent welfare intervention to citizens, and increase revenue and tax collection. “The eNaira is Nigeria’s CBDC and it is the digital equivalent of the physical naira. As the tagline simply encapsulates, the eNaira is the same naira with far more possibilities. The eNaira – like the physical naira – is a legal tender in Nigeria and a liability of the CBN. The eNaira and naira will have the same value and will always be exchanged at one naira to one eNaira,” Emefiele said. President Muhammadu Buhari also said: “Indeed, some estimates indicate that the adoption of Central Bank Digital Currency (CBDC) and its underlying technology, called blockchain, can increase Nigeria’s GDP by $29 billion over the next 10 years. CBDCs can also help increase remittances, foster cross border trade, improve financial inclusion, make monetary policy more effective, and enable the government to send direct payments to citizens eligible for specific welfare programmes.” The Central Bank of Nigeria (CBN) digital currency, eNaira, has continued to attract the interest of Nigeria’s banking public at home and across the world, as its total downloads reached 694,000, exactly 95 days after it was launched, according to THISDAY’s report.

ENHANCING STABLE COINS THROUGH REGULATION

Stablecoins, which meaning cryptocurrencies pegged to a reference point such as the US dollar or another fiat currency, are also gaining attention as they counterbalance the volatility associated with cryptocurrencies like bitcoin. In the ITU newsletter, the Chief of Study Groups at the Telecommunication Standardization Bureau of the International Telecommunication Union (ITU), Bilel Jamoussi, said: “The key is dialogue among digital ecosystem stakeholders and regulators on lessons learned from cryptocurrency pilots. According to ITU, such conversations were held virtually during the Digital Currency Conference (DC3 Conference), which took place between 25 and 27 January, this year, as part of a joint initiative by ITU and the Future of Digital Currency Initiative at Stanford University. “Since its 2020 launch, the Digital Currency Global Initiative (DCGI) has convened top minds from industry and academia to construct a set of metrics by which to evaluate the robustness of various digital currency technologies,” Jamoussi explained, adding that the requirements are set by stakeholders with the aim of identifying potential areas of standardisation. The Digital Currency Global Initiative is a collaboration between ITU and Stanford University and its main objectives are: Conduct further research on technical architecture, security, the technical implications and challenges in deployment caused by regulatory and policy requirements for Central Bank Digital Currency

and other Digital Currencies; Construct a set of metrics by which to evaluate the robustness of various digital currency technologies against the requirements set by various stakeholders; Identify areas for standardization to enable implementation of digital currency; Organize a conference on an annual basis to share information on best practices, technical standards and lessons learned on digital currency implementation. To achieve its objectives, the activities of the Digital Currency Global Initiative are focused around three main pillars to drive the synergistic engagement, innovative use, and standardization of Digital Currencies. The Digital Currency Global Initiative is designed to provide an open and neutral platform for dialogue, knowledge sharing and research on the applications of Central Bank Digital Currency (CBDC) and other digital currency implementations.

A MOVING TARGET

Digital currencies are “very much a moving target,” according to European Commission Advisor and Leader of the DCGI’s policy and governance working group, Mr. Peter Kerstens, His group is tasked with finding policy and governance areas would benefit from international standardization. These could range from consumer protection, financial inclusion, privacy and digital identity policies to know-your-customer (KYC) issues and anti-money laundering. “A lot of regulatory and legislative work hasn’t taken place yet – and may not take place,” Kerstens said, adding that there is a lot of scope for standardization.”

ADDRESSING SECURITY

With malware and ransomware attacks growing increasingly frequent, trust and security are of chief importance when it comes to the standardization of digital currencies. Despite all the innovation happening in the crypto universe, many grey areas remain on the security front. The founder of advocacy group Security Inclusion Now and leader of the DCGI security and assurance working group, Jacques Francoeur, said: “We have yet to determine how to best protect consensus mechanisms. Today, security is very complex, costly, manual and fragmented. Though myriad security standards exist, small Fintech companies often find them nearly impossible to deal with.” According to ITU, to alleviate the challenge, Francoeur’s working group developed a security

validation platform specifically designed for digital currencies. It starts by identifying commonalities between digital currencies and understanding, which areas can be treated with a prescribed set of security controls.

MAKING DIGITAL CURRENCY STABLE

Eight promising stablecoin use cases have been studied by DCGI’s architecture, interoperability and use cases working group. According to the stablecoin work stream’s leader, Jean Marc Seigneur, who is a senior lecturer at the University of Geneva, “Having stablecoins in a cryptocurrency ecosystem brings stability to the economics of that system. On the other hand, some users may move crypto into stablecoins assuming they are all trustworthy, which is not always the case.” Both CBDCs and stablecoins offer promising avenues to build trust and confidence in the basic idea of electronic tender. “If we assume these coins are stable, they are less volatile than cryptocurrencies such as bitcoin or ethereum,” Seigneur explained, adding that users may feel more confident in using these new technologies, which allow users to transact from one part of the world to another, more easily than previous digital payment solutions. With several countries now embracing CBDCs, experts predict that CBDCs will soon start competing with cryptocurrencies, especially stablecoins.

HOW GLOBAL CRYPTO CRIME DROPPED

Reported fraud across the financial services industry in Africa has spiked however, while financial crime is on the rise, there has been a decline in illicit crypto transactions according to Eva Crouwel, Head of Financial Crime at Luno, a leading global cryptocurrency platform, who credited the source to the foremost blockchain analysis company Chainalysis, in the ITU News Letter. According to Crouwel, “The 2020 UN Report on Trade and Development, estimates illicit losses of $88.6 million each year in Africa alone. In 2019, 2.1 per cent of all global crypto transactions globally were categorised as illicit, but in 2020 the number dropped to 0.34 per cent of all global cryptocurrency transactions. This translates to roughly $10 billion globally.” Giving reasons for rise in financial crime in Africa, Crouwel said: “There is a perfect storm

of three main reasons for the rise in financial crimes across the African continent. First, financial education levels tend to be lower in Africa and combined with financial hardship caused by Covid-19, citizens are seeking good returns. Second, crypto is a new technology, so users are uncertain about how it works and how to protect themselves. Finally, personal data in Africa has not been well protected compared to Asian and European markets. This makes it easy for people with bad intentions to get hold of personal information.” Among its nine million customers across 40 countries, in around 95 per cent of Luno’s current financial crime cases, customers have been scammed. This varies from traditional ‘get-rich-quick’ scams to cases where customers are scammed into surrendering their login information to fraudsters, who sometimes pretend to be from Luno. “Luno fully supports regulation of crypto and believes that it will help to combat fraud. But the reality is that even highly regulated sectors experience financial crime, especially scams,” Crouwel said. Given that crypto is so new, crypto businesses have a significant role to play in teaching customers how to stay safe and protecting customers. Luno uses external blockchain monitoring companies and restricts crypto movements when the data indicates that customers are at risk. According to Crouwel, “Interestingly, there is no specific demographic for victims, despite widely-held perceptions that scammers target either the ignorant elderly, or young mavericks looking to make a quick buck or previously disadvantaged users.”

KEEPING CUSTOMERS SAFE

Luno recently underwent the rigorous process of independently verifying the existence of customer funds by means of a proof of reserves report prepared by Mazars South Africa. In addition, Luno conducts financial audits, security audits, audit of reserves and compliance audits. “We invest heavily in advanced technology that allows our dedicated investigations team to access real time, techdriven insights, which means we are able to respond much more quickly to behaviour that has been identified as risky. We have always said that Luno is a safe platform to secure and store cryptocurrency and we now have external validation of this,” Crouwel said. Customers also need to be alert and careful. “We also count on our customers to keep the best interest of their funds in mind when dealing with cryptocurrency. We recently embarked on an email campaign to our customers to explain the risks and what to look out for,” Crouwel said.

HOW GLOBAL OEMS CONNIVE WITH OVERSEAS-BASED DISTRIBUTORS TO UNDERCUT PRICES IN NIGERIA by patronizing them, the banks don’t have to pay VAT. The Nigerian tech community is worried, describing the development as a huge economic drain on the country and economic sabotage for some Nigerian banks and corporates to keep patronizing these OEMs and their

distributors knowing full well that the distributors are undermining the nation’s tax policy. They called on the relevant authorities to look into the anomaly and sanction companies promoting such tax evasion scheme. THISDAY investigation showed that the collusion between the

OEMs and the foreign-based distributors only applies to Nigeria. Attempts by the OEMs and their collaborators to extend the tax-evasion strategy to South Africa and Egypt, two African nations that share high GDP with Nigeria, were rebuffed by the relevant authorities

in both countries. Some of the tech startups who spoke at a seminar in Abuja recently, wondered if the Federal Inland Revenue Service (FIRS) and the Ministry of Communications and Digital Economy, the supervising ministry of the National Information Technology

Development Agency (NITDA), were aware of the ongoing economic sabotage. THISDAY gathered that some of the tech startups were already mobilizing some members of the National Association of Nigerian Students (NANS) to picket the offices of FIRS, the Ministry of

Communications and Digital Economy in order to compel them to investigate the activities of the OEMs and their collaborators. They also plan a four day shut down demonstration of the offices of the OEMS in Nigeria claiming that Nigerians have been exploited enough.

WITH 2021 SCORECARD, KPMG URGES BANKS TO ENGAGE CUSTOMERS WITH DIGITAL CHANNELS of bank customers. The report explained that the remaining 75 per cent has work to do, particularly on digital onboarding, self-service and customer care. According to the report, “While few banks support end-to-end financial transactions, with easy and seamless onboarding process,

majority of the banks surveyed do not have enough digital channels to engage new generation customers, and they have limited information for their product description, features and benefits and do not support unboarding and where they do, the services are often defective, thus indicating that such banks are yet

to realise the importance of digital onboarding as a drive of customer acquisition and growth.” Analysing the report, Partner and Lead, Digital Infrastructure at KPMG Africa, Mr. Boye Ademola, urged banks to engage customers more with the use of digital channels in onboarding their customers.

According to him, “One of the things that banks have done very well is on payments and transfers and they have invested so much in innovations for financial payments and transfers. We see banks using biometrics to authorise transactions for customers as well as management of failed transactions, but in the

area of the digital leaders category, only few banks are investing in the onboarding of customers digitally and in leveraging technology to achieve such innovations.” Giving details of the report, Associate Director, Data and Analytics at KPMG Kenya, Anastasia Kamande, advised banks

to focus more on User Centre option in order to digitally onboard more bank customers. According to her, “Only 34 per cent of Africans have bank accounts, and this calls for concern on all banks to digitise their banking processes, and create more digital channels for more customer engagements.”

THURSDAY, FEBRUARY 17, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

‘Technology Fast Re-defining Consumers, Brands Engagement’ Raheem Akingbolu Leading Marketing Communications experts have admitted that technology and shifts in societal nuances are now dictating how consumers interact with companies globally. Managing Director, Hill+Knowlton Strategies, Tokunboh Durosaro and the Chief Excutive Officer at Modion Communications,

Odion Aleobua, who made the declaration, in different interviews with THISDAY, have also advised Nigeria’s practitioners to up their games to conquer industry quacks, who are circumventing industry standard in the country. Durosaro, who compared the market before, during the pandemic, stated that the way consumers relate with brands have continued to change just as rapidly

as the way brands are utilizing PR and Marketing agencies. She said, “These changes can be attributed to advances in technology and shifts in societal nuances. These changes are gradual and may easily go unnoticed. More organisations are beginning to better understand the importance of specialisation and differentiation between services. In 2021, we saw the rise of specialized SME businesses focused

on niche services like digital communication and influencer services. In the same way, we saw larger agencies creating internal yet separate special divisions to combat competition and the trend will continue. Today, we have practitioners we call ‘portfolio practitioners, with no physical offices and little overhead costs and they are agile, hungry, and flexible in budgeting and activations to deliver results for their clients,”

Aleobua, who emphasized that the electioneering year as expected, would have an upside for the Nigeria’s Marcom industry, said, “With the dominant parties anticipating a competitive campaign process right from the primaries, there will be a strong reliance on creatives and strategic media consultants to chart winning ideas and tactics for the frontrunners. I expect this to impact significantly on ad spend especially on out-of-

home and digital media platforms,” The Modion Communications Boss, who also pointed out that Pan-Nigeria campaign drive, will increase big-ticket event marketing and experiential gigs, was quick to add that the bona-fide players in the sector as always would struggle to get briefs as gatekeepers turn consultants will likely dominate the business uptake as the proximity to the inner circle will be pivotal to winning accounts.

Ariston Repositions, Partners Juventus FC to Boost Business Raheem Akingbolu Ariston, one of the worldwide leaders in the thermal comfort industry, and Juventus, the world-renowned Italian football club based in Turin have joined forces in Africa, signing a regional partnership from February 2022. This is the third step of a successful collaboration among Ariston and Juventus that started already in China and in Indonesia during 2021. With this regional partnership the two Italian brands join their ambitions of growth and development assuring high performances thanks to their common attitude. During the presentation event, broadcasted directly from Allianz Stadium, the Juventus players

Kean, Rabiot, Szczesny and the Juventus Legend Fabrizio Ravanelli, congratulated Ariston and Juventus for the partnership. Chief Executive Officer of Ariston Group, Laurent Jacquemin, commented: “I am thrilled to announce the new step of this partnership today, rooted in Italian excellence and with a global vision and reach, to win the great challenges of the African markets. Our commitment in Africa is paramount, with over thousands of distributors & partners and a broad range of products, including Electric, Gas, Solar water heaters and boilers, which makes us today among the leaders in the territory. Teaming up with Juventus in Africa further reinforces our position”.

DIGITISING SUPPLY CHAIN…

L-R: Program Manager, Private Sector Partnerships and representatives of the Bill and Melinda Gates Foundation, Dr Stephanie Fowler; . Country Manager, LifeBank Nigeria, Ugochkwu Obiakor; Founder/Group CEO, LifeBank, Temie GiwaTubosun; Honourable Commissioner For Health, Yobe state, Dr. Muhammed Lawn Gana and Executive Secretary YODMA, Pharm Abdul-Aziz Mohammed during the signing of Memorandum of Understanding between LifeBank and Yobe State Drugs and Medical Consumables Agency to digitise supply chain in the North East held in Abuja… recently

Firms Gives Reasons for Sponsoring ‘Who Wants To Be A Millionaire’

Tricycle Owners Read Riot Acts to Impersonators, Endorse New State Chairman

Raheem Akingbolu

Gilbert Ekugbe

UP Group, a payment and financial technology company, has given the need to boost the economic power of Nigerians as the reason behind its decision to throw its weight behind popular television game show, Who Wants To Be A Millionaire. Payattitude, Payarena and HopePSBank, are the subsidiaries of the Group. It was also announced that broadcaster and master of ceremonies, Frank Edoho, will return as the host of this edition of the show, tagged ‘The Rebirth’ Delivering his keynote speech at the unveiling in Lagos, the Managing Director of UP, Agada Apochi, stated that the group’s decision to sponsor the show was borne out of the desire to educate, excite and entertain Nigerians by bringing back the game show that keeps families at the edge of their seats.

According to him, the show would help to promote knowledge acquisition and allow Nigerians to realise their economic dreams by winning cash prizes every week for 52 weeks. “We are sponsoring Who Wants to Be a Millionaire? to entertain, educate and excite Nigerians. The return of WWTBAM is coming with a bang that would create lasting memories in the audience’s minds. It is going to keep them on the edge of their seats as new millionaires emerge from the show,” he said. Also speaking, CEO, BLK HUT, Hakeem Condotti said; “As a company, BLK Hut desires to continuously deliver creative, intelligent and professional content to the market for the people and partner brands; and in the production of a brand with Who Wants To Be A Millionaire’s stature, we are able to show our range and capacity to this effect.

ESH Introduces All-Natural Foaming Hand Sanitizer Raheem Akingbolu Environmental Science Hygiene (ESH) LTD, Nigeria, a subsidiary of Environmental Science Hygiene, United Kingdom has launched Palm Tree Hygiene foaming hand sanitizer. The product is the first of its kind all-natural foaming hand sanitizer produced, manufactured, and distributed in Nigeria. The premium hand sanitizer was launched in tandem with the commissioning of ESH’s state-of-the-art factory in Lagos on Tuesday. Speaking at the launch, Chief Executive Officer, ESH LTD Nigeria, Mr. Sam Awolesi shared the inspiration for the product. “It is with humility and years of consistent research that we are proud to announce the launch of the world’s first foaming hand sanitizer, made from all-natural ingredients.”

Also speaking, Managing Director of the company, Mrs. Sola Adebowale, expressed excitement on the launch, stating that at the onset of covid-19, the company saw the need for an all-natural sanitizer that would be effective in protecting humans while also being environmentally sustainable. Commenting on the sustainability efforts of ESH, Special Adviser, Development Goals and Investment, Lagos State, Mrs. Solape Hammond, commended the initiative. “It is exciting to see another business in Nigeria that is passionate about proliferating and promoting sustainable and environmentally friendly products. With the launch of the product and the commissioning of the factory, this will bring in new jobs and diversify our economic source for GDP whilst increasing the economic viability of our country.”

The Office of Board of Trustees of Tricycle Owners and Operators Association of Nigeria (TOOAN) has sounded a note of warning to Impersonators, Interlopers and usurpers who go about hindering the activities of the association. In a statement issued to THISDAY signed by its Secretary, Adeola Adegbite, TOOAN added that the association will not hesitate to wield the big stick on these unscrupulous individuals who go about spreading false information about the association, claiming to have the backings of lawless warlords. Meanwhile, the association has endorsed Azees Abiola Istijaba as

its State Chairman, Lagos State, saying the move is in its collective efforts at returning the association to normalcy, stating that with the endorsement, the stage is now set to reorganize TOOAN in Lagos State in line with decency, obedience to constituted authority, keeping to the law of the state government and the constitution of Nigeria. The statement added: The leadership of TOOAN salutes and remains grateful to the enviable National leadership of NURTW under the Presidency of Alh. Prof. Tajudeen Ibikunle Baruwa for their wisdom, competent resolve and genuine demonstration of what leadership is all about in agreeing with our choice of Lagos State Chairman of TOOAN.”

“By our well considered choice and ultimate endorsement by NURTW, backed with a letter of Appointment to Alh. Azeez Abiola, Istijaba,” the statement read. TOOAN however implored the general public and all members of TOOAN to cooperate with the care-taker committee under the state chairmanship of Alh. Azeez Abiola, Istijaba without any bickering in order positively transform the transport sector in Lagos state. “TOOAN remains an affiliate of NURTW as this is a decision we have taken long before now without any iota of doubts until those who pride themselves as lords-above-the-law came on stage. Nonetheless, NURTW is our brother union and the terms of our

relationship as an affiliate shall remain guided by TOOAN. It was our choice, without coercion, that we voluntarily name TOOAN as TOOAN of NURTW,” the statement added. The statement also urged each true and bona-fide member of TOOAN to therefore conduct himself or herself with civility at all times. “We urge you to prove to the lawless ones that you are refined, disciplined and cultured. Show to those perpetrators of evil or crimes that you are not one of them. Be a good example of a genuine rider without any act of thuggery or hooliganism. Relate well with your passengers and project the Association in good shape,” the report advised.

NRC, Firm, Offer 20% Discount to Boost Railway Advertising Raheem Akingbolu The Nigeria Railway Corporation (NRC) in collaboration with B2YB, an advisory and consultancy firm, has officially launched its advertising platform to promote visibility for brands within train and around train stations. NRC had recently appointed B2YB to manage the commercial utilisation of its assets – within and around railway terminals, on coaches and on the right of way. The firm’s mandate includes; design,

fabrication, installation, marketing and management of advertising spaces and opportunities on all NRC property across Nigeria. In a joint statement, the two organisations described the advertising platform as the easiest, fastest and most effective way brands can reach out to their target audience. Speaking at the official launch, Director, Operations, NRC, Mr. Niyi Alli, while giving an update of corporation’s progress report and plans said, “Nigeria Railway Corporation is aimed at reducing

traffic on the road because the passenger’s rate are growing, so this is an avenue to reduce passengers stress” He also stated that “Currently, NRC conveys 15,000-20,000 daily but we are aiming for 100,000 daily.” adding that , “we are aiming towards having four stations enroute Lagos-Ibadan, having four return trips which would make it eight times daily.” Commending the impact of the new advertising platform on the country’s economy, Mr. Temitope

Ayanbade, MD, B2YB said, “B2YB is a young brand helping brands to connect with their consumers. The excitement is that it can never be over emphasized that presently, Nigeria railway can be liken to what we have in the advanced western world like the US, UK and Dubai and we are very excited about what is happening now.” He stated further that the opportunities are so enormous for brands who take advantage of the platform, noting that safety is the major concern for Nigerians.

BHM’s Finance Lead Joins Canadian Firm Raheem Akingbolu The Head of Finance and Business Administration at Black House Media, Oyindamola BenjaminBlack has left the Public Relations firm, after eight years, to take on a senior role at Canada’s leading construction supervisory and management company, Capital Paving Inc. According to a statement issued by BHM in Lagos, Benjamin-Black

joined BHM in 2013, as a Financial Accountant and quickly rose to become the head of finance, advising consultants and senior management on strategy, budgeting, planning, policies, optimisation, controls, and risk. Speaking on her exit, BHM Founder and CEO, Ayeni Adekunle said, “It is a bittersweet feeling to see Oyindamola go as she has been with us for almost a decade and made a success of transforming our business

and finance operations, helping us attain operational efficiencies and remarkable growth. I have no doubts that she will achieve great exploits at Capital Paving Inc. and I have to say that they are very lucky to have her.” “I’m looking forward to diversifying with this new opportunity at Capital Paving Inc. My father’s career as an Engineer in building and road construction has inspired me to

learn more about the construction industry and I look forward to applying my expertise to ensure growth and efficiency at Capital Paving Inc..” “I am grateful to the BHM Group team and the CEO, Ayeni for the opportunity to play a pivotal role in optimising the company’s processes and systems achieving over 100% growth, year on year, in revenue, client base and profits in the past five years,” Oyindamola said.

THURSDAY FEBRUARY 17, 2022 • T H I S D AY

T H I S D AY ˾ ,FEBRUARY 17, 2022

HEALTH & LIFESTYLE

ÜÙßÚ ÏËÞßÜÏÝ ÎÓÞÙÜ˝ Chiemelie Ezeobi ×ËÓÖ chiemelie.ezeobi@thisdaylive.com, Tel: 07010510430

Ikeja Electric’s Charitable Gesture on Valentine’s Day To commemorate Valentine’s Day, Ikeja Electric, in line with its longstanding tradition of Personal Corporate Social Responsibility donated medical consumables and jaundice treatment machine to IfakoIjaye General Hospital, Lagos, Chiemelie Ezeobi reports

e had traversed five Lagos hospitals in seven anxious hours. Sadly, we got the same cold, lethal refrain: “THERE IS NO SPACE”. Her health had reached a frightful state already, I admit. But it wasn’t irredeemable, perhaps.” The above words were that of Lagos-based academician, Dr. Dele Omojuyigbe, who narrated his horrible experience in five different hospitals in Lagos trying to rescue his wife from the cold hands of death. “My son had called me about 5am to say that the doctor would like to speak with me. My heart had skipped. I was told madam is not responding to treatment again, the doctor had said. But the doctor assured me a day before that the situation was under control. He told me her system changed suddenly. He further explained to me there is an issue with the urea and the pancreas has packed up,” he continued. “In no time, I arrived at the hospital with an official driver. I met my wife on oxygen. I was terrified. She was croaking. The entire room vibrated. Even the ante-room shook. It was terrific. I stared at her for five minutes and bowed in grief. I mourned. The nurses appealed to me to hold myself together for the sake of my children waiting at the reception. The children were Ikeja Electric Plc (IE), Nigeria’s leading Electricity Distribution company, has donated medical items to Ifako-Ijaye General Hospital, Lagos, to mark this year’s Valentine Day. This charitable gesture is in line with objectives of its Personal Corporate Social Responsibility (P-CSR). The company decided to extend such love on Valentine’s Day in line with its commitment to impact on lives by giving back to communities, customers and needy individuals through the PCSR platform. The staff of Ikeja Electric led by its Chief Executive Officer, Folake Soetan, shared gift items in the children’s ward as an expression of love to the kids, which is synonymous with the celebration. While making the donation, Soetan said: “At Ikeja Electric, it is in our DNA to always give back. That is why we continuously explore opportunities to give back to the communities we operate, through our Corporate Social Responsibility (CSR) initiatives hinged on the pillars of Health, Education and Empowerment. “While we acknowledge the efforts of government at all levels in providing health care to the citizenry, there is no doubt that they also need some level of support from the private sector as the demand is enormous. “This is why private organisations like Ikeja Electric throw their weight behind initiatives that support government and drive development.” She also mentioned the company believes that touching people’s lives in the society where it operates will further help to strengthen trust and engender mutual relationship between the company and the people they serve. According to her, “As simple as some of these acts of love might seem, they have far-reaching impact on others.” Excited to receive the gift from Ikeja Electric, management of the hospital expressed appreciation for the gesture and quality time spent in the children’s ward. The Medical Director, Dr. Bamidele Mustapha, commended Ikeja Electric and called for support for the Hospital from other well-meaning Nigerians as government cannot do it alone. For those in the know, this move by IE was not strange. Over the years, they have carried out countless PCSRs, targeting different spheres of the society that needs it. For instance in 2019, they marked Valentine’s Day with kids at National Orthopaedic Hospital, Igbobi. It provided the team opportunity to spend quality time and show love to the kids, who were recuperating in the hospital. They spent time playing and reading to the kids and also presented them with gift packs and provisions to celebrate the occasion. As once explained by IE Head of Corporate Communications, Ikeja Electric, Felix Ofulue, the

L-R: Mrs Taiwo Ibilola, Head, Administration and Human Resources, General Hospital, Ifako-Ijaye; Mrs Folake Soetan, Chief Executive Oﬃcer, Ikeja Electric (IE); Dr Bamidele Mustapha, Medical Director, General Hospital, Ifak-Ijaye; Mrs Nneka Nwosu, Business Manager, Ikeja Business Unit (IE); Mrs Olufunmilayo Ojo, Apex Nurse, General Hospital, Ifako-Ijaye during the presentation of Jaundice Treatment Machine and Medical Consumables to Ifako-Ijaye General Hospital in Lagos

IE staﬀ at the hospital during the love gesture “PCSR platform allows both the company and the employees to carry out voluntary charitable activities aimed at making impact on different spheres of the society. “Under the PCSR programme, we have the Employee Volunteer Scheme (EVS) which

enables our staff to voluntarily contribute their time and resources to the welfare of Nigerians. “This charitable gesture reflects the large-heartedness of both management and staff of Ikeja Electric, to contribute to

“Our P-CSR platform allows both the company and the employees to carry out voluntary charitable activities aimed at making impact on different spheres of the society”

the progress of our society”. Ikeja Electric further stressed that showing love goes beyond giving to people on special days only, that is why it consistently looks for opportunities to touch the lives of people and communities through its PCSR activities. “Our P-CSR platform allows both the company and the employees to carry out voluntary charitable activities aimed at making impact on different spheres of the society,” the company said. Under the P-CSR programme, IE has the Employee Volunteer Scheme (EVS) which enables their staff to voluntarily contribute their time and resources to support the society. These generous acts reflect the large-heartedness of employees of Ikeja Electric to support the undeserved in the society.

T H I S D AY ˾ ,FEBRUARY 17, 2022

NEWS

Heirs Life Introduces Annuity Campaign, Promises Retirees Guaranteed Pension for Life 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 is for people to retire without financial worries as the plan pays policyholders a guaranteed pension for life. 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 several organisations to provide the Annuity plan to their employees. 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, “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. Hence, our campaign “The Fun

FERTILITY

BACTERIAL VAGINOSIS (Part 1)

Begins at Retirement” addresses the option of planning a wholesome retirement with the benefit of the Heirs Annuity Plan,” she said. Heirs Annuity Plan pays retirees a steady amount, monthly or quarterly for as long as the annuitant lives. This way, the individual is assured of a great future even during retirement. Beyond the Heirs Annuity plan, Heirs Life has introduced a variety of interesting life assurance plans for different customers. Heirs Life continues to transform life insurance in Nigeria through its digital service delivery and by providing simple, quick, reliable, and accessible financial security plans to individuals and businesses. Heirs Life is a subsidiary of Heirs Holdings, a pan-African investment group. Alongside other products, the Heirs Annuity plan can be purchased via the company’s website www.heirslifeassurance. com and other digital channels or through the company’s accredited representatives.

he vagina is an expandable tube structure of the female reproductive system that connects the cervix to the womb (uterus). It has a function in sexual intercourse as well as serving as a passageway for the fetus during birthing and menstrual fluids during menstruation. Secretory functions are also performed by the vagina as is made up of glands that secrete little amounts of fluid that aid in vaginal cleansing and contribute to a healthy vagina. Bacteria are another aspect that contributes to a healthy vaginal environment.The vagina is made up of several bacteria collectively known as the vagina flora. In a healthy vagina, these bacteria (both good and bad) coexist in balanced amounts.

Niyi Onifade, Managing Director/CEO, Heirs Life Assurance

Boost for Maternal/Childcare as NDIC Donates Paediatric Unit to Ogun Hospital James Sowole in Abeokuta Maternal/Child Healthcare got a boost in Ogun West Senatorial District, as the Nigeria Deposit Insurance Corporation (NDIC) donated a state-of-the-art paediatric unit to a state - owned general hospital in Saala, Ayetoro, Ogun state. The project was facilitated by the Chairman of NDIC, Mrs Ronke Sokefun through her MRS Foundation, in honour of her late parents, Chief and Mrs. Anthony Akanbi and Cecilia Ibiyemi Idowu. The paediatric unit is fully equiped with two infant phototherapy machines, two baby incubators, two oxygen concentrators, and two suction machines. The donation of the facility according to findings, brought to four, the number of incubators in the government hospital in the entire Senatorial District, as two others, had earlier been installed by the state government at General Hospital, Ota. Speaking at the commissioning and handing over ceremony of the facility to the state government, the NDIC chairman also

said that the facility consists of an emergency treatment room, a 10-bed admission ward, a baby ward, a special baby care treatment room for new borns, an isolation room for those with infectious and communicable diseases. The facility, according to her, has a pharmacy, a doctor’s consulting room, chief matron’s office, a nurses’ station, a waiting room, two-room, four-bed parents’/ guardians’ accommodation, fitted with a kitchenette for parents and guardians whose children and wards are on admission. For the smooth running of the paediatric unit, Sokefun said, the facility is equipped with a backup solar powered alternative power source. She noted that, the gesture was part of the NDIC Corporate Social Responsibility (CSR) initiative to complement government’s efforts in adding value to communities and improving the welfare of the people. Sokefun said, “Out of a desire to make an impact in my immediate environment, I chose to start small. The result is what we see today.

With Dr. Kemi AILOJE drkemi@lifelinkfertility.com www.lifelinkfertility.com +2348033083580

“All around us, there exist gaps, especially with the provision of social amenities. The truth is government cannot do it all, no matter how hard it tries. It is for this reason that we must all be determined to support and give back. “Why the choice of a paediatric standalone unit? There is a saying that healthy children make a healthy nation. We have to nurture our young and that is why this project was conceptualised.” She urged the hospital management to put the facility to judicious use. Governor Dapo Abiodun in his address commended NDIC and its Chairman for their ingenuity and for keying into his administration qualitative health care services. Abiodun who was represented by his Chief of Staff, Shuaib Salisu, urged other well meaning indigenes of the state as well as organisations to emulate the gesture by adopting a primary healthcare centre, primary school and join his administration in building the future of the people together.\He said.

WHAT IS BACTERIA VAGINOSIS? Bacterial vaginosis (BV) is a condition in which the bacteria in the vaginal canal are out of balance, that is, the vaginal flora is altered. Inflammation, itching, and unpleasant vaginal discharge are the main signs of this vaginal infection.Although BV can occur without having sex, it is more common in sexually active women. Douching, as well as having a new sex partner or several sex partners, can alter the balance of good and harmful bacteria in your vagina. This increases your chances of contracting BV. THE VAGINA After the intestine, the vaginal area has more bacteria than any other part of the body. The vaginal flora is unique to each individual. Hormonal changes take place as we advance through life stages, from birth to pregnancy to menopause and our vaginal flora meets certain challenges that might disturb the vaginal flora’s natural balance of good and bad bacteria. EARLY STAGE Our vaginal is sterile at birth. The baby’s vaginal microbiome begins to populate shortly after or during delivery when they pick up bacteria from their mother, most commonly from the Bifidobacteria genus. The vaginal pH in early childhood is neutral or slightly alkaline. There is a reduction in Lactobacillus populations from childhood till girlhood, and before puberty females have smaller numbers of Lactobacillus species in comparison to other bacteria species. Before puberty, females are prone to vaginal infections, which are frequently caused by heavily perfumed bath products. Educate your young daughters to use the bathroom by wiping from front to back. Also, avoid using fragrant soaps, particularly in the vaginal area. PUBERTY The teenage years are a difficult time for young girls as their bodies experience changes

during puberty. These changes can be stressful and unpleasant for girls. The vaginal microbiome is also changing a lot at this time. The presence of large quantities of glycogen in the vaginal lining is a result of rising estrogen levels. Lactic acid is produced when bacteria of the Lactobacillus family digest glycogen. This helps to preserve the vaginal area at this difficult time.However, if the vaginal microbiome is not protected, adolescent girls’ vaginal pH levels can rise above 4.5, making them a perfect breeding ground for infections like bacterial vaginosis (BV). In women aged 15 to 44, BV is the most prevalent vaginal infection, with one in every three women suffering from it at some point in their lives. Once we reach maturity, we enter our reproductive years, which include the possibility of pregnancy, menopause, and other issues. This brings dozens of new factors into play, all of which have the potential to alter the vaginal microbiome’s balance, resulting in infection and other health issues. THE VAGINAL FLORA The term “vaginal flora” refers to a collection of bacteria that live inside the vagina. It’s also known as the vaginal microbiome or bacterial flora. The vaginal contains millions of bacteria and other microorganisms, some of which are useful and others of which are toxic. These bacteria must be kept in balance not only for vaginal health but also for a woman’s overall health.The bacteria found in the vaginal area differs from woman to woman, however the Lactobacilli species is one that they all share in common. Examples of the Lactobacilli species include; Lactobacillus reuteri, Lactobacillus rhamnosus, Lactobacillus crispatus, Lactobacillus gasseri, Lactobacillus iners and Lactobacillus jensenii. Lactobacilli are very important in the vagina because they serve to guard against microorganisms from the outside environment as well as those that reside in the vagina.It also contributes to the maintenance of a healthy vaginal pH by creating lactic acid, hydrogen peroxide, and other chemicals. Lactic acid maintains a healthy vaginal pH. The pH of the vaginal fluid is slightly acidic and should be between 3.8 and 4.5. An acidic vaginal environment keeps pathogenic germs from overgrowing and causing infections. Hydrogen peroxide and other chemicals produced by these bacteria also help to prevent harmful bacteria from overgrowing. Hence, when lactobacilli levels are low, it will affect lactic acid and hydrogen peroxide production and this will cause the vaginal flora to become unbalanced, therefore increasing the risk of acquiring vaginal infections. Itching, irritation, burning, abnormal discharge, and unpleasant vaginal odor are among symptoms that might be caused by infections TO BE CONTINUED

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T H I S D AY ˾ ,FEBRUARY 17, 2022

NEWS

Season of Love: Medplus Pharmacy Gives Back to Vulnerable Communities Mary Nnah Nigeria’s leading health and beauty retail company, Medplus Pharmacy has added colour to this year’s Valentine’s Day by making it all about the underprivileged. The company broke the status quo of the established lover’s day by spreading love to the vulnerable communities around instead. Termed “Redefining Love”, it was an advocacy campaign that aimed to put smiles on faces. Being a company that is dedicated to holistic living and love, the firm believes that love should transcend romantic relationships, even on Valentine’s Day. Hence, Medplus Pharmacy donated a percentage of its income from the sale of Vitamin C on February 14th to a Nongovernmental Organisation, Chess

in Slums Africa. Chess in Slums Africa is a social development initiative that helps children find life changing opportunities by teaching and unlocking the potential in every child, using chess educational resources and mentorship. The game has improved the mindset of children in some of Lagos’ poorest neighbourhoods. According to its founder, Babatunde Onakoya, Chess in Slums Africa started as a revolutionary project to teach the game of chess to children in one of the most dangerous slums in Nigeria (Oshodi underbridge) as a way to impact lives. The foundation has been making great strides and it has given the children an escape from the Nigerian slums. “This partnership is a way of encouraging a spirit of giv-

ing and care. In the words of Barbara De Angelis - “Love and kindness are never wasted. They always make a difference. ‘They bless the one who receives them, and they bless you, the giver.” and as John Bunyan would say ‘you have not lived today, until you have done something for someone who cannot repay you’”, he noted. Valentine’s Day 2022 was sure dynamic and inspiring because Medplus Pharmacy is moving to action by relaying the importance of being charitable. But the pharmaceutical company isn’t connecting with these vulnerable groups alone. Through partnerships with social change leaders such as Onakoya and his foundation - Chess in Slums Africa - both organisations will increase the impact and effectiveness of the campaign by collaborating to uplift more hearts

than they would have alone. This is especially critical in a pandemic era when we all need to respond to the unprecedented levels of need created. Medplus Pharmacy is a wholesale, retail and dispensing pharmaceutical organisation, established for the distribution of retailing locally manufactured and imported drugs, beauty and wellness range, with the goal of providing a holistic healthcare approach to Nigerians. The company believes wellness isn’t just physical, but should cater to the mind, and spirit. It is an organisation deeply devoted to reaching out to the vulnerable in society. This is not the first time the pharmaceutical company is supporting an NGO, however, this year it extended its corporate social responsibility to Chess in Slums Africa.

Centre to Build 350-bed Facility to Increase Access to Cancer Treatment Chiamaka Ozulumba The African Cancer Centre (ACC) is set to build a 350-bed facility for cancer research, diagnosis, training and treatment as a means to improve access to cancer treatment in Lagos State and the country. The organisation, which was founded by the late Prof. Olufemi Williams, appointed two financial advisers - PAC Capital Limited and Greenwich Merchant Bank - to raise and arrange $38.3 million funds for the first phase. The chairman, Mr. Adekunle Olumide, who spoke at the signature ceremony on Thursday, said the organisation’s mission is to increase access to cancer treatment and prevention through early detection and diagnosis. He said: “Nigerians are aware of the parlous state of cancer management in Nigeria. It was estimated in 2015 that one in every three Nigerians will develop cancer before they die at age 80 or more, suggesting that about 60 million Nigerians will die from the deadly disease. The figures in 2022 will be more depressing.” Olumide recalled that owing to poor cancer management in Nigeria the Founder and Director of the ACC, the late Prof. Olufemi Williams, conceived and spearheaded the establishment of the centre. In his remarks, he outlined that ACC is envisioned to be a world-class 350-bed centre for cancer treatment, research and training that will serve Nigeria, the West African sub-region and beyond. The mission of the centre, he listed, “will be accomplished by improving access to treatment, prevention through early detection and diagnosis, and quality care through training, cancer education, greater public awareness and enlightenment. ‘There are a number of cancer hospitals and treatment units springing up across the continent, but let me assure you that this will be a one-stop centre for cancer treatment in Nigeria and sub-Saharan Africa.” A professor of radiation therapy and oncology, Francis DurosinmiEtti, at the event, said peoples’ lifestyle was contributing to the increase in cancer cases. He said, “Basically the increase in cancer cases is because people are more aware unlike in the past when people think cancer is an attack. “These days, people are coming out, even people who have been cured are happy to come out and declare that cancer is no longer a death sentence.” Durosinmi-Etti also acknowledged that publicity on cancer is making people come out for early diagnosis and treatment while noting that the population seems to be aging unlike in the past. He emphasised: “Of course, you intend to get more cancer in elderly people. That does not mean children cannot have cancer. Some of these cancers run in families.” According to the chairman, lifestyle practice is also contributing to the increase in cancer cases. “We are all westernised now. We eat all sorts of junk foods and all these result in one cancer or the other.” However, he admitted that the likelihood of surviving cancer now has improved compared to the past with early diagnosis and treatment, improved radiotherapy services and the rest.

Senator Oloriegbe Advocates Health Insurance for Nigerians

Chess in slums kids

Rebecca Ejifoma

Lagos Gets 8 New Ambulances, Mobile Clinic Truck from Partners r3FBGGJSNT QSPWJTJPO PG TXJGU BNCVMBODF TFSWJDFT BDDFTT UP 1)$ Rebecca Ejifoma The Lagos State Government has received eight new customised state-of-the-art Mobile Intensive Care Unit (MICU) ambulances and a well-equipped mobile clinic truck from two donor partners. The partners are Global Fund (for the ambulances), an international financing and partnership organisation, and MTN Nigeria (for the mobile clinic truck) respectively. This was to help improve emergency medical services and provide primary healthcare outreach services in Lagos communities. As noted in a press release signed by the Director of Public Affairs, Tunbosun Ogunbanwo, the multi-million naira MICU ambulances are equipped with essential medical, built-in emergency equipment and gadget including main ambulance stretcher with washable mattresses, stainless steel stretcher support,

trauma kit. The truck also has urinal plastic wedge, silicone resuscitator, immobilisers, ECG, Sp02, NIBP, respiration, pulse oximeter and IV hooks which are necessary to provide first aid on-the-spot treatment, stabilising and supporting patient in transit and safe transportation of patients for further medical management. It is intended for medical outreaches and primary health care service provision in 14 local government areas in Lagos State as part of MTN’s Yello Doctor Project, which aims to strengthen primary health care (PHC) services to underserved communities across the country. Speaking at the donation ceremony in Ikeja, the Commissioner for Health, Prof. Akin Abayomi highlighted that the state government has continued to enjoy support from its development partners, donor agencies, philanthropic organisations

and well-meaning individuals who at various times donated items, resources and offered expertise in its drive to provide efficient, accessible and equitable health services to the citizenry. He commended Global Fund and MTN Nigeria for the gifts, adding that their noble gestures would further help strengthen the state healthcare delivery system and revamp emergency and public health response in the State. Abayomi added: “I would like to commend the donors for recognising the urgent need to support the government and for collaborating with us to strengthen the health care delivery system. “Indeed, this is a noble gesture that deserves commendation. We have received medical facilities that are going to help us strengthen our emergency medical response and primary health care platform, which operates like a health post.”

The commissioner explained that the new ambulances, which will be added to the fleet of ambulances in the Lagos State Ambulance Service (LASAMBUS), will go a long way in expanding the coverage area of LASAMBUS. He hinted that the health truck will bring PHC services closer to the door steps of citizens and help bridge the access gap in health care services. “We have been embarking on strengthening our medical emergency unit called the Lagos State Ambulance Service. “ LASAMBUS was extremely busy during COVID; picking up people who are in respiratory distress and bringing them to our care centres where we could resuscitate them with oxygen and keep them alive. “Our fatalities in Lagos were extremely low compared to the rest of the world. Not that we didn’t have breathless people, we did, but we were able to rescue a lot of them.”

The Chairman of the Senate Committee on Health, Ibrahim Oloriegbe, alongside members of the Healthcare Federation of Nigeria (HFN), has advocated health insurance for all Nigerians. He noted this at the Strategic Stakeholders Meeting on Draft National Policy on Incentivising the Health Service Industry and Healthcare Investments powered by HFN in Lagos. Oloriegbe bemoaned that health insurance coverage remains very poor, hence, he said there was a need to make healthcare at both public and private hospitals accessible for all. While addressing other pressing issues members of the HFN highlighted, the senator outlined, “What the government is doing is to improve the working environment. “In terms of increasing salaries, it’s not that it’s possible to increase salaries just like that because. If you say you’ll increase the salaries of doctors, what about nurses, pharmacies and so on?” “In Nigeria, the chairman continued, “our salary system is based on certain general rules that if you have this qualification, this is what you can earn”. According to the senator, the only thing you can do is improve the working environment, “which is what we are trying to do and pay those salaries that are approved to health workers generally appropriately”. He also harped on the need for incentives as stimulants for health care professionals. “That is why we also agreed here that the private sector has a role to play. If they organise better and they pay certain incentives, that will retain some of our brains to stay here.” Speaking also, the President of HFN, Dr. Pamela Ajayi, urged the government to finance the health sector aside from getting private health practitioners to be more included in government policy and programmes. Her words: “We have talked about certain policy issues that need to be changed including private sector incentives, and certain bills that need to be passed.

THURSDAY FEBRUARY 17, 2022 • T H I S D AY

T H I S D AY ˾ ˜ ͯ͵, 2022

BUSINESS/MONEYGUIDE

FG Blame Declining FoodYield on Poor Soil Fertility, Inaugurates Testing Labs James Emejo ÓØ ÌßÔË The Minister of Agriculture and Rural Development, Dr. Mohammad Abubakar, has said reiterated the federal government’s commitment to ensuring that soil resources on which agriculture depends receives special attention for sustainable food production. The minister attributed the declining yield per hectare of farm land to declining soil fertility adding that the latter cannot be managed effectively without knowing the fertility status of soil. Speaking at the inauguration of the ministry’s soil testing and Geographic Information System (GIS) laboratories, in Abuja, he said soil testing remained critical towards the government’s commitment to an agriculture-led economic diversification agenda. The minister pointed out that over the years, gaps had been identified in the way the country managed its soils which is affecting fertilizer usage and land use planning, adding that his ministry was determined

to bridge the gaps through the establishment of the National Soil Laboratory in Abuja – and the fourth in the country after Kaduna, Ibadan and Umudike. Abubakar insisted that these laboratories are necessary for the promotion of technology-driven agriculture, which is the focus of the ministry as contained in the National Agricultural Technology and Innovation Policy (NATIP). He said the laboratories, equipped with Mid-Infrared Spectrophotometer (MIR) for dry chemistry analytical procedures will further strengthen the capacity of the Department of Agriculture Land and Climate Change Management Services (ALCCMS) to evaluate good soil types for agriculture. He charged the department to embark on nationwide sensitisation of farmers on the importance and benefits of soil testing in crop and livestock production, adding that equipment has the capacity for analyzing large quantities of soil samples rapidly. The minister said, “Interpreta-

tion of soil testing results will reveal the soil fertility status and amendment needed to enhance soil fertility for increase crop output per hectare. The GIS laboratory am commissioning with the soil lab also has capacity to receive soil field data real-time for processing, analyses and mapping. “The GIS technology with its versatility will facilitate the production of soil fertility maps for different parts of the country. This will provide current information on the suitability and capability of lands for the production of different crops and land use. “The maps will provide information on crop and location specific types of fertilizer for blending by our blenders to enhance agricultural productivity and stop blind application of fertilisers in the country.” On his part, the ministry’s Permanent Secretary, Dr. Ernest Umakhihe said the equipment will put an end the blind application of fertiliser and ensure sustainable land use.

L-R: Special Adviser to the Governor of Lagos State on Parastatal Monitoring Oﬃce (PMO), Mr Afolabi Ayantayo; Permanent Secretary Parastatal Monitoring Oﬃce,Pharmacist Oke- Osanyintolu Zainab Oluwatoyin and Managing Director, Lagos State Signage and Advertisement Agency (LASAA), Prince Adedamola Docemo during PMO’s working visit to LASAA recently.

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021

Experts Endorse Vitafoam’s Products as Firm Rewards Customers Health experts endorsed the products of Vitafoam Nigeria Plc at the weekend as the Company celebrated its customers through sponsorship Valentine Day across Nigeria. The experts, who described Vitafoam’s mattresses as essential to healthy living commended the frontline manufacturer of rigid foams and other household materials for its Buy Right strategy, which enables customers to purchase mattresses that align with their weight and height. Speaking at a Customer Forum to mark 2022 Valentine Day, an Orthopedic Sleep Consultant and Trauma Surgeon, Dr Charles Uzodinma, explained that a good foam should be of an appropriate firmness to support the body

weight and shape. “ I endorse Vitafoam’s Buy Right that enables a customer to choose a mattress that aligns with his body mass and height. A quality mattress should be able to ensure that it can hug to the body continuously from head to toe and distribute evenly the pressure of the mattress and weight of the body. Vitafoam has done great in this initiative. Customers should take advantage of Buy Right to get appropriate foams.“ Uzodinma said. Corroborating him, a Pharmacist, Mr Yemi Aladeniyi noted that the essence of Vitafoam’s Buy Right was to enable customers involve sleep experts in their choice of appropriate foams. A lawyer who won the

Vitafoam contest organized for customers to mark Valentine Day, Mrs Sade Sulaiman, expressed gratitude to the Company for its customer centric policy in product development. Vitafoam’s Product Group Manager, Moses Mogbolu explained that the overriding objective of sponsoring Valentine Day was to reward customers and also tell people about the Company’s current campaign that says “we are good in bed”. “We are also showcasing Vitafoam’s unique characteristic of a pure indigenous company with products that are of global standard. We sponsored the Valentine Day across all Nigeria’s geo-political regions., ”Mogbolu said.

A3C Set to Launch Foundation to Conduct Complex Surgeries in Nigeria Gilbert Ekugbe The Commercial Director, Anaesthesia and Critical Care Consultants (A3C), Mr. Akintunde Sawyerr, has announced plans to set up a foundation to conduct complex surgeries in Nigeria. According to Sawyerr in a statement issued to THISDAY, the move would also avail opportunities to people who cannot afford to travel outside the country for medical attention, while also saving Nigeria’s hard earned currency spent on medical tourism annually. To reaffirm its commitment to delivering world class medical treatment, A3C and Reddington Hospital, Victoria Island, performed a complex surgery and care usually done in industrialised countries, to restore the hearing of a 4-year old who was born deaf. A3C, founded by Dr. Seyi Oyesola in 2015 has a primary objective of making complex surgery and care usually done in more developed countries available in Nigeria. According to the statement A3C contacted Mr. Anthony Owa a U.K and U.S trained

Ear, Nose and Throat (ENT) surgeon of Nigerian origin, who had previously done cochlear implants and other complex ENT surgical procedures in conjunction with A3C. Owa performed the surgery at The Reddington Hospital, an apex hospital in Victoria Island with the technical support of the world renowned cochlear implant company with audiological back up supplied by Dr. Barnabas Vangerwua, Francis Dagu and Med El, with the post operative auditory rehabilitation being coordinated by Yvonne Kehinde. The 4-year old child who was born without hearing, was initially referred to A3C, who in turn organised for the referral to Dr Owa. The Audiologist/CEO Nigerbell Hearing & Speech Centres LTD, distributor of MED-EL GmbH in Nigeria, Dr. Barnabas Vangerwua, undertook the audiological assessment to determine the candidacy of the patient for cochlear implant surgery. Nigerbell ensured timely supply of the implants and undertakes the rehabilitation for the patients to enhance communication with the spoken

word. The procedure took place at Reddington Hospital, Victoria Island, where a good number of surgical procedures and teaching from the mentor surgeon take place with a high level of success said the Chief Operating Officer of Reddington, Mr Emmanuel Matthews In order for these types of cases to take place with more regularity, the funding needs to be available or the cost subsidised, as only in this way can more cases be done and the skill set needed transferred effectively to Nigerian clinicians The Head of Clinical Services, A3C, Dr. Ken Adegoke, stated that the procedure had to be done before the child was 5 years old, leaving only a few months from confirmation of the diagnosis to surgery. Adegoke also siad that the child is making good progress, as MED-EL who are the manufacturer of the cochlear implant, through their Country representative highlighted the fact that the company provide full pre and post operative support to the patients to ensure that the outcomes have the maximum chance of success and achieve full potential.

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

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 ˾ ˜ ͯ͵˜ ͰͮͰͰ

Stock Market Maintains Positive Momentum, Gains N27.8bn Kayode Tokede The stock market of the Nigerian Exchange Limited (NGX) maintained its positive growth for the second consecutive day this week amid investors bargain hunting in some mid-small capitalised stocks. The overall market capitalisation gained N27.8 billion to close yesterday at N25.389trillion from N25.362 trillion the stock market opened for trading, while the

NGX All-Share Index (ASI) added 44.43basis points or 0.09per cent to close at 47,109.25 basis points from 47,064.82basis points it opened for trading yesterday. Sector performances of the NGX were negative yesterday with the NGX Industrial dropping by 0.34per cent, NGX Banking decline by 0.20 per cent, NGX Consumer Goods depreciated by 0.09 per cent and NGX Oil and Gas down by 0.04 per cent.

P R I C E S MAIN BOARD

F O R DEALS

In yesterday’s trading activities, the stock market breadth index was negative with 19 gainers against 29 losers. Learn Africa leads the gainers chart yesterday with 9.9 per cent or N0.18 increase to close at N1.99, while SCOA Plc added 9.55 per cent or N0.17 to close yesterday at N1.95. RT. Briscoe added 8.70per cent or N0.04 to close at N0.50 as Vertaskap increased by 8.70 per cent or N0.02 to close at N0.25. In

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

QUANTITY TRADED

addition, Japaul Gold rose by 8.57 per cent or N0.03 to close at N0.38 per share. On the loser chart, UPDC depreciated by 6.36 per cent or N0.07 to close at N1.03, while Regal Insurance dropped by 5.13 per cent or N0.02 to close at N0.37 per share. The likes of CI leasing dropped by 4.76 per cent or N0.18 to close at N3.50 while Prestige down by 4.44 per cent ot N0.02 to close at N0.43 per share. Chams Plc was

T R A D E D

VALUE TRADED ( N )

MAIN BOARD

A S

among the top losers yesterday after shedding 4.35 per cent or N0.01 to close N0.22 per share. In terms of activity levels, total volume and value increased by 16per cent and 117per cent respectively, as investors exchanged about 318million units of shares worth N8.26billion. Access Bank was the most actively traded stock with about 47million units of shares worth about N496million. According to analysts at

O F

1 6

InvestmentOne research, “The equities market closed northwards today due to the gains recorded in the Telco names. “Going forward, we expect investor’s sentiments to be swayed by the search for real positive returns and developments in the interest rate space. “We reiterate that this may be a great period to pick up some quality names with a medium to long-term investment horizon.”

/ 0 2 / 2 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

THURSDAY, ͹Ϳ˜ ͺ͸ͺͺ ˾ T H I S D AY

Thursday, February 17, 2022

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THISDAY AFRINVEST 40 INDEX

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Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

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THISDAY AFRINVEST 40

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ƌŽƐĞ

ďǇ

E'yͲ ^/ ŐĂŝŶĞĚ ϵďƉƐ ƚŽ ϰϳ͕ϭϬϵ͘Ϯϱ ƉŽŝŶƚƐ͕ ďƵŽǇĞĚ ďǇ ϭϭďƉƐ ƚŽ ϯϵ͕ϱϱϬ͘ϯϲ ƉŽŝŶƚƐ͘ ŽŶƐĞƋƵĞŶƚůǇ͕ zd ůŽƐƐ ŝŵͲ

ŝŶƚĞƌĞƐƚ ŝŶ Ͳϭ͘ϴй /Zd > & DdEE ;нϬ͘ϱйͿ͕ ƉƌŽǀĞĚ ƚŽ ǁŚŝůĞ ;нϬ͘ϴйͿ͕ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ ĂŶĚ ďǇ ^d E / ;нϮ͘ϮйͿ͘ ,ĞŶĐĞ͕ zd ƌĞƚƵƌŶ ƌŽƐĞ ŵŝůĚůǇ ƚŽ േϮϯ͘ϰďŶ ƚŽ േϮϬ͘ϲƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚǇ ǁĂƐ ŵŝǆĞĚ ĂƐ ǀŽůƵŵĞ ϭϬ͘ϯй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƚƌĂĚĞĚ ;ƉƌĞǀŝŽƵƐůǇ ĚĞĐůŝŶĞĚ ďǇ ϭϬ͘ϮйͿ Ϯϭ͘ϲй ƚŽ ϭϭϬ͘ϴŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ ƚƌĂĚĞĚ ƌŽƐĞ ďǇ ϴϴ͘ϱй ƚŽ േϯ͘ϭďŶ͘ dŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ŝŶĐŚĞĚ ƵƉ േϮϯ͘ϵďŶ േϮϱ͘ϰƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚǇ ŝŵͲ ďǇ ǀŽůƵŵĞ ǁĞƌĞ dZ E^ KZW ;ϭϭ͘ϵŵ ƵŶŝƚƐͿ͕ & E, ;ϭϭ͘ϭŵ ƉƌŽǀĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ŝŶĐƌĞĂƐĞĚ ϭϲ͘ϭй ƵŶŝƚƐͿ͕ ϭϭϲ͘ϱй ĂŶĚ K E K ;ϳ͘ϯŵ ƵŶŝƚƐͿ ǁŚŝůĞ ;േϮ͘ϮďŶͿ͕ ĂŶĚ ƌĞƐƉĞĐƟǀĞůǇ ƚŽ E ^d> ϯϭϴ͘ϯŵ ƵŶŝƚƐ

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

ďĞĂƌŝƐŚ ĂƐ ϰ ŝŶĚŝĐĞƐ ůŽƐƚ͕ ϭ ŝŶĚĞǆ ŐĂŝŶĞĚ ǁŚŝůĞ ƚŚĞ &ZͲ/ d

ůĂƌŐĞůǇ ďĞĂƌŝƐŚ ĂƐ Ăůů ŝŶĚŝĐĞƐ ĚĞĐůŝŶĞĚ ƐĂǀĞ ĨŽƌ ƚŚĞ &ZͲ ŝŶĚĞǆ ƌĞŵĂŝŶĞĚ ŇĂƚ͘ dŽƉƉŝŶŐ ƚŚĞ ůĂŐŐĂƌĚƐ ĂƌĞ ƚŚĞ ŽŶƐƵŵͲ

/ d ŝŶĚĞǆ ǁŚŝĐŚ ŐĂŝŶĞĚ Ϭ͘ϳй ĚƵĞ ƚŽ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ

0.5%

7.9%

1.5%

134.7%

14.1%

13.6x

21.0x

70.75

0.0%

6.8%

5.5%

19.1%

11.2%

34.0x

6.4x

26.00

-1.1%

6.2%

0.0%

24.8%

3.9%

3.9x

/ŶǀĞƐƚŽƌƐ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ƐƚƌĞŶŐƚŚĞŶĞĚ͕ ƐĞƩůŝŶŐ Ăƚ ϭ͘ϲǆ

KƵƚůŽŽŬ

ĨƌŽŵ ϭ͘ϯǆ ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ůĂƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ Ϯϰ ƐƚŽĐŬƐ

/ŶǀĞƐƚŽƌ ĂƐ ŵĞĂƐƵƌĞĚ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ͕ ĂĚǀĂŶĐĞĚ ƐĞŶƟŵĞŶƚ͕ ǁŚŝůĞ ϭϱ ƐƚŽĐŬƐ ĚĞĐůŝŶĞĚ͘ ďǇ DZ^ ;нϵ͘ϵйͿ͕ D zͲ

25.4% 27.5%

2.9%

26.85

0.0%

6.0%

6.8%

20.9%

2.8%

3.6x

0.7x

11.2%

-0.5%

4.4%

6.4%

40.4%

16.7%

13.6x

5.3x

5.9%

7.4%

1,435.00

0.0%

3.1%

-7.8%

106.8%

15.6%

27.8x

32.8x

4.2%

3.6%

0.6x

3.9%

14.9%

1.1x

3.8%

10.3%

10 Access Bank PLC 11 United Bank for Africa PLC

10.35

0.0%

2.8%

11.3%

17.0%

1.4%

2.9x

0.5x

8.2%

34.4%

8.45

-0.6%

2.2%

5.0%

19.5%

1.8%

2.1x

0.4x

6.5%

47.1% 12.8%

12 Stanbic IBTC Holdings PLC 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 19 Fidelity Bank PLC

26 NEM Insurance PLC 27 Presco PLC 28 NASCON Allied Industries PLC 29 AIICO Insurance PLC 30 TotalEnergies Marketing Nigeri

34.65

2.2%

1.5%

-3.8%

15.1%

2.1%

7.8x

1.2x

11.8%

47.50

0.0%

1.4%

-5.0%

5.3%

1.9%

43.8x

2.3x

2.3%

850.00

0.0%

2.0%

30.8%

3.4%

1.9%

19.5x

0.7x

4.9%

5.1%

-10.3%

-3.9%

12.00

-1.2%

1.8%

37.9%

5.05

-1.0%

1.1%

2.0%

127.80

0.0%

0.9%

-10.0%

36.5%

23.3%

8.7x

2.9x

35.10

0.0%

1.2%

23.8%

15.9%

4.5%

5.4x

0.8x

4.7%

18.6%

2.8x

36.3% 1.0x

-11.3% 11.5%

2.97

0.0%

0.7%

16.5%

13.3%

1.3%

2.3x

0.3x

7.4%

44.3%

2.35

-2.1%

0.5%

1.3%

9.3%

3.0%

7.2x

0.7x

9.4%

13.8%

18.00

0.0%

0.5%

3.4%

15.3%

6.3%

11.8x

1.8x

8.3%

8.5%

3.13

0.0%

0.4%

4.7%

10.3%

1.1%

0.3x

4.9%

10.95

-0.5%

0.4%

10.6%

2.4x

6.4%

65.00

0.0%

0.6%

66.7%

13.3%

6.0%

13.7x

1.7x

0.7%

7.3%

1.15

-0.9%

0.4%

19.8%

11.1%

2.3%

6.1x

0.6x

0.9%

16.4%

35.6%

18.5%

6.4x

1.1x

4.4%

15.7%

2.2x

1.0% 2.8%

7.3%

4.09

5.1%

0.3%

-9.1%

104.00

0.0%

0.3%

18.5%

14.50

0.0%

0.3%

9.8%

21.3%

6.9%

13.6x

2.7x

0.69

0.0%

0.2%

-1.4%

7.2%

1.1%

383.3x

0.7x

264.90

0.0%

0.3%

19.4%

48.0%

9.5%

5.4x

2.2x

1.6%

18.6%

0.3%

7.45

0.0%

0.2%

-5.7%

19.5%

5.5%

4.4x

0.8x

7.4%

22.8%

22.95

-0.2%

0.2%

2.0%

38.7%

16.0%

5.9x

2.1x

6.5%

17.0%

13.90

-0.4%

0.2%

-4.1%

7.8%

4.9%

30.8x

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

4.97

-0.2%

0.0%

12.4%

14.5%

2.6%

2.1x

0.3x

3.2%

14.7% 46.7%

0.87

-1.1%

0.1%

20.8%

14.1%

0.8%

3.8x

0.5x

4.6%

1.68

-1.2%

0.1%

11.3%

9.4%

0.9%

2.2x

0.4x

3.0%

62.50

0.0%

0.1%

0.0%

-28.3%

-6.1%

5.38

0.0%

2.4x

26.4% 45.6% -13.8%

0.9x T o p 10 T r a d e s b y V o l u m e Vo lum e

P ric e C hg %

A C C ESS

47.9

0.0%

M TNN

21.7

0.5%

8.7%

Z EN IT H B A N K

17.3

0.0%

0.50

8.7%

UB A

16.9

-0.6%

J A P A ULGOLD

0.38

8.6%

16.8

0.0%

R OYA LEX

0.90

8.4%

F ID ELIT YB K

16.2

0.0%

UA C N

9.80

6.5%

T R A N SC OR P

15.7

-0.9%

C OUR T VILLE

0.54

5.9%

GT C O

N EM

4.09

5.1%

M ULT IVER SE

0.22

4.8%

T ic k er

P ric e

P ric e C hg %

LEA R N A F R C A

1.99

9.9%

SC OA

1.95

9.6%

VER IT A SKA P

0.25

R T B R ISC OE

T ic k er

14.2

-1.1%

ET I

9.2

-1.2%

R EGA LIN S

9.0

-5.1%

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 T ic k er UP D C

^dK < ;Ͳϰ͘ϴйͿ ůĞĚ ůŽƐĞƌƐ͘ WƌĞǀŝŽƵƐ ĚĂǇ͕ ǁĞ ĞǆƉĞĐƚ ƚŚĞ ĐŚĂŶŐĞĚ͘ dŽŵŽƌƌŽǁ͕ ǁĞ ĂŶƟĐŝƉĂƚĞ ƐƵƐƚĂŝŶĞĚ ƉŽƐŝƟǀĞ

11.5%

6.7x

ǁĞĂŬĞŶĞĚ ƚŽ ͲϬ͘ϭϱǆ ĨƌŽŵ Ϭ͘ϭϮǆ ŝŶ ƚŚĞ ƉƌŝŽƌ ƐĞƐƐŝŽŶ ĂƐ < Z ;нϵ͘ϴйͿ͕ ĂŶĚ ,KEz&>KhZ ;нϵ͘ϴйͿ ůĞĚ ŐĂŝŶĞƌƐ ǁŚŝůĞ dZ E^ ;Ͳϴ͘ϯйͿ͕ > ^ K ;Ͳϲ͘ϳйͿ͕ ĂŶĚ >/s Ͳ ϭϵ ƐƚŽĐŬƐ ŐĂŝŶĞĚ͕ Ϯϵ ůŽƐƚ ǁŚŝůĞ ϲϲ ǁĞƌĞ ƵŶͲ

1.0x

273.50

T o p 10 G a in e r s

7.3%

9.7x

ŽŶǀĞƌƐĞůǇ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞǆ ǁĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶͲ ůŽǁŝŶŐ ƐĞůůŽīƐ ŝŶ d/ ;Ͳϭ͘ϮйͿ͕ h ;ͲϬ͘ϲйͿ͕ /Ed Z t ;Ͳ

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ

5.2%

0.8%

40 Transcorp Hotels Plc

P ric e 1.03

P ric e C hg % -6.4%

R EGA LIN S

0.37

-5.1%

C ILEA SIN G

3.60

-4.8%

P R EST IGE

0.43

-4.4%

CHA M S

0.22

-4.3%

SOVR EN IN S

0.23

-4.2%

WA P IC

0.48

-4.0%

LIVEST OC K

1.93

-3.5%

A B CTRA NS

0.32

-3.0%

F T N C OC OA

Afrinvest West Africa Limited

200.00

8.4%

ŽīƐ ŝŶ K E K ;ͲϬ͘ϴйͿ͕ E/d, ;ͲϬ͘ϮйͿ͕ ĂŶĚ 'd K ;ͲϬ͘ϮйͿ͘ 'ŽŽĚƐ ŝŶĚŝĐĞƐ ůŽƐƚ ϮϬďƉƐ ĂŶĚ ϵďƉƐ ƌĞƐƉĞĐƟǀĞůǇ ĨŽůͲ

Θ 'ĂƐ ŝŶĚŝĐĞƐ͕ ĚŽǁŶ ďǇ ϰďƉƐ ĂƉŝĞĐĞ͘

16.5%

1.5%

8.4%

t W K ;Ͳϭ͘ϱйͿ͘ ^ŝŵŝůĂƌůǇ͕ ƚŚĞ ĂŶŬŝŶŐ ĂŶĚ ŽŶƐƵŵĞƌ ŝŶŐ ŝŶĚŝĐĞƐ ĨĞůů ďǇ Ϭ͘Ϯй ĂŶĚ ϮďƉƐ ƌĞƐƉĞĐƟǀĞůǇ ĚƵĞ ƚŽ ƐĞůůͲ

ĂŶĚ d ZE ;ͲϬ͘ϱйͿ ǁĞŝŐŚĞĚ ŽŶ ƚŚĞ /ŶƐƵƌĂŶĐĞ ĂŶĚ Kŝů

5.2%

11.6%

38 Sterling Bank PLC 39 Notore Chemical Industries Ltd

0.8x

0.0%

ĚƵĞ ƚŽ ƉƌŝĐĞ ĚĞƉƌĞĐŝĂƟŽŶ ŝŶ E' D ;ͲϬ͘ϱйͿ ĂŶĚ ĂŶĚ D E^ Z ;ͲϮ͘ϮйͿ͘ ^ŝŵŝůĂƌůǇ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ĂŶŬͲ

ƟŽŶ ŝŶ E' D ;нϯ͘ϯйͿ͘

5.5x

8.6%

36 Oando PLC 37 Wema Bank PLC

D E^ Z ;ͲϮ͘ϭйͿ͕ Z ' >/E^ ;Ͳϱ͘ϭйͿ͕ K E K ;ͲϬ͘ϮйͿ͕

3.5%

0.0%

ůĂŐŐĂƌĚƐ͛ ĐŚĂƌƚ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞǆ ƐůŝĚ ϯϰďƉƐ ϵ͘ϭйͿ͕ hE/> s Z ;Ͳϯ͘ϱйͿ͕ >/E< ^^hZ ;Ͳϲ͘ϰйͿ͕

Ğƌ͕ ƵƉ ϭ͘ϴй ĚƌŝǀĞŶ ďǇ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂͲ ϭ͘ϬйͿ͕ ĂŶĚ ,KEz&>KhZ ;ͲϮ͘ϭйͿ͘ ůƐŽ͕ ƐĞůůͲƉƌĞƐƐƵƌĞ ŽŶ

15.0%

8.6%

34 Julius Berger Nigeria PLC 35 Union Bank of Nigeria PLC

ŐƌĂĚƵĂůůǇ ǁŝŶĚƐ ƵƉ͘

31.9%

3.2%

ŝŶ /Zd > & ;нϭ͘ϭйͿ ĂŶĚ DdEE ;нϬ͘ϱͿ͘ dŽƉƉŝŶŐ ƚŚĞ ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůǇ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŽĮƚͲƚĂŬŝŶŐ ŝŶ E ^d> ;Ͳ

89.4%

31.9%

3.4%

31 Custodian and Allied Insurance 32 Vitafoam Nigeria PLC 33 Unilever Nigeria PLC

Ğƌ 'ŽŽĚƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ͕ ĚŽǁŶ ϰ͘ϲй ĂŶĚ

2.1%

Divindend Earnings Yield Yield

P/BV

0.0%

ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

WĞƌĨŽƌŵĂŶĐĞ ŽĨ ƚŚĞ ƐĞĐƚŽƌƐ ǁŝƚŚŝŶ ŽƵƌ ĐŽǀĞƌĂŐĞ ǁĂƐ

38.2%

P/E

-1.5%

24 Guinness Nigeria PLC 25 Transnational Corp of Nigeria

ĐƌŽƐƐ ƐĞĐƚŽƌƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ

0.8%

ROA

26.00

22 FCMB Group Plc 23 United Capital PLC

ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

0.25%

ROE

11.40

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

8 FBN Holdings Plc 9 Lafarge Africa PLC

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

ĂŶĚ േϴ͘ϯďŶ͘

1,260.00

3 BUA Cement Plc 4 Guaranty Trust Holding Co PLC

20 AXA Mansard Insurance PLC 21 Dangote Sugar Refinery PLC

ŵĂƌŬĞƚ ƐĞŶƟŵĞŶƚ ƚŽ ƌĞŵĂŝŶ ŵŝǆĞĚ͕ ĂƐ ĞĂƌŶŝŶŐƐ ƐĞĂƐŽŶ ƉĞƌĨŽƌŵĂŶĐĞ ĂƐ ŝŶǀĞƐƚŽƌƐ ŚƵŶƚ ĨŽƌ ďĂƌŐĂŝŶƐ͘

1894.20

1 Airtel Africa PLC 2 MTN Nigeria Communications PLC

WƌĞǀŝŽƵƐ ĚĂǇ͕ ƉƌŝĐĞ ƵƉƟĐŬ ŝŶ ,KEz&>KhZ DĂƌŬĞƚ 'ƌŝƉ ^ůŝƉƐ Žī ƚŚĞ ĞĂƌƐ͘͘͘ ^/ ƵƉ ϵďƉƐ

^ŚĂƌĞ

Current Price

0.35

Brokerage

-2.8%

T ic k er

Value

M TNN

4339.6

0.5%

800.8

0.0%

P ric e C hg %

A C C ESS

496.2

0.0%

Z EN IT H B A N K

464.3

0.0%

GT C O

372.8

-1.1%

A IR T ELA F R I

293.7

0.8%

ST A N B IC

278.0

2.2%

143.1

-0.6%

UB A ET I

111.7

-1.2%

GUIN N ESS

94.0

0.0%

Asset Management

Investment Research

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

Christopher Omoh | comoh@afrinvest.com

Damilare Asimiyu| dasimiyu@afrinvest.com

THURSDAY, FEBRUARY 17, 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 15Feb-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 174.65 175.80 4.66% Afrinvest Plutus Fund 100.00 100.00 9.03% Nigeria International Debt Fund 306.55 306.55 -0.87% Afrinvest Dollar Fund 95.75 96.90 -2.72% 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 9.80% AIICO Balanced Fund 3.51 3.58 -0.71% 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 7.88% Anchoria Equity Fund 145.84 147.68 4.80% Anchoria Fixed Income Fund 1.18 1.18 3.68% 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 21.11 21.74 4.05% ARM Discovery Balanced Fund 474.90 489.22 5.26% ARM Ethical Fund 39.48 40.67 1.34% ARM Eurobond Fund ($) 1.07 1.08 -0.55% ARM Fixed Income Fund 1.02 1.02 0.64% ARM Money Market Fund 1.00 1.00 8.33% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 108.79 108.79 6.96% AVA GAM Fixed Income Dollar Naira 1,079.36 1,079.36 7.94% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.07 2.07 9.66% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.27 2.31 34.19% CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund N/A N/A N/A CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 8.62% Paramount Equity Fund 18.40 18.74 9.36% Women's Investment Fund 145.77 147.42 4.83% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 9.09% Cordros Milestone Fund 137.52 138.42 4.03% Cordros Dollar Fund ($) 111.13 111.13 0.62% 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 6.47% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 6.46% EDC Nigeria Fixed Income Fund 1,144.98 1,148.96 -2.06% 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 1,414.20 1,414.20 10.90% FBN Balanced Fund 182.01 183.38 3.85% FBN Halal Fund 116.95 116.95 8.86% FBN Money Market Fund 100.00 100.00 8.61% 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

122.72 153.76

122.72 3.88% 155.75 2.13% fcmbamhelpdesk@fcmb.com

Bid Price 1.00 3.98 1.81 1.21

Offer Price Yield / T-Rtn 1.00 7.57% 3.98 -0.57% 1.85 4.42% 1.21 0.56% 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 N/A N/A N/A Vantage Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Kedari Investment Fund (KIF) N/A N/A N/A Vantage Equity Income Fund (VEIF) - June Year End N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.55 1.58 2.74% Lotus Halal Fixed Income Fund 1,149.44 1,149.44 1.12% 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 12.52 12.61 6.19% Meristem Money Market Fund 10.00 10.00 8.49% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 101.12 101.12 8.88% Norrenberger Money Market Fund (NMMF) 100.00 100.00 8.49% 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 1.63 1.66 1.47% PACAM Fixed Income Fund 11.59 11.57 3.48% PACAM Money Market Fund 10.00 10.00 7.37% PACAM Equity Fund 1.52 1.53 5.12% PACAM EuroBond Fund 115.20 117.60 -0.04% 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 3,512.99 3,550.13 2.01% Stanbic IBTC Bond Fund 236.52 236.52 0.34% Stanbic IBTC Ethical Fund 1.33 1.35 3.08% Stanbic IBTC Guaranteed Investment Fund 315.28 315.28 0.62% Stanbic IBTC Iman Fund 245.57 249.17 1.42% Stanbic IBTC Money Market Fund 100.00 100.00 6.48% Stanbic IBTC Nigerian Equity Fund 11,292.50 11,447.80 1.64% Stanbic IBTC Dollar Fund (USD) 1.30 1.30 0.53% Stanbic IBTC Shariah Fixed Income Fund 117.43 117.43 0.39% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 107.50 107.50 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 4.28% United Capital Balanced Fund 1.41 1.43 3.59% United Capital Wealth for Women Fund 1.14 1.16 4.94% United Capital Sukuk Fund 1.08 1.08 0.96% United Capital Fixed Income Fund 1.97 1.97 0.89% United Capital Eurobond Fund 123.16 123.16 0.67% United Capital Money Market Fund 1.00 1.00 8.57% 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 13.40 13.52 1.62% Zenith ESG Impact Fund 15.32 15.48 4.83% Zenith Income Fund 22.25 22.25 1.22% Zenith Money Market Fund 1.00 1.00 6.53%

REITS NAV Per Share

Yield / T-Rtn

124.98 54.65

10.62% 8.10%

Bid Price

Offer Price

Yield / T-Rtn

14.08 135.32 106.89 19.77 23.10

14.18 138.70 109.25 19.87 23.20

0.82% 2.81% 3.16% 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

N/A N/A N/A N/A N/A N/A

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.

THURSDAY FEBEUARY 17, 2022 •T H I S D AY

THURSDAY, ͹Ϳ˜ ͺ͸ͺͺ ˾ T H I S D AY

TRIBUTE 'A Patriot to the Core!' - Princess Aderenle Adeniran-Ogunsanya I Olasupo Shasore, SAN

948 is a year that is not heralded much in global history, yet many things that would later affect the way we live were already taking place Without much notice, a radio transistor was invented, and the first computer programme was written. More significant was the passage of Mahatma Ghandi, the leader of a movement that would bring down arguably the British Empire’s most prized possession – Colonial India. At the time in Nigeria, the Cost of Living Allowance (COLA) introduced by the British government was being called into question. Under the leadership of Michael Imoudu, it had already sparked a nationwide General strike for the first time in Nigeria and inequality amongst the Europeans and the Nigerian staff that worked the lucrative coal mines in the colony was boiling over at the Coal Workers Union. At this time in faraway Manchester, England, something special was happening. Adeniran Ogunsanya, son of Prince Suberu of the Rademo Ruling House of Ikorodu, with his beautiful young British love, Ellen Joan gave birth to a baby girl, much against the odds of the time. Ogunsanya, then a law student, would later become Otunba, Queens Counsel, the first Attorney-General of Lagos State, pre-eminent frontline politician, Chairman of Nigeria Peoples Party (NPP) and much more. That girl was Princess Aderenle Oyebola AdeniranOgunsanya. She would later return to England for further studies, but on the 23 of April 1953 she got on board MV Accra with her father arriving Apapa port, Lagos barely two weeks later. This was Ogunsanya’s triumphant return with the “golden fleece’’. The family settled at Ebute-Metta in Lagos and the politics that Adeniran Ogunsanya had continued in Manchester got deeper in Lagos. As the tumultuous period leading to Nigeria’s independence from Great Britain set in, Adenrele’s father, Adeniran Ogunsanya took to politics wholeheartedly. Joining the NCNC party, he stood for and won the Suru Lere ward, beating Action Group’s Mr. Adewale Thompson. He ran again in 1959, beating Alhaji S. O Gbadamosi to become a Member of Parliament representing Ikeja and Mushin constituencies. In the meantime, ‘Derenle attended many elite schools here and abroad, Our Lady of Apostles Private School, Regan Memorial Baptist Girls Secondary School, Brentwood School for Girls in Lancashire, St Mary’s School, Baslow, Herons Field School, Chorleywood and the University of Lagos, leading to a career at Shell Nigeria Limited in the Personnel and Training departments. Aderenle would often testify that ‘politics is in my blood’. She was right. Her early environment was clearly soaked in politics and her closeness to her father ensured that her future in politics was sealed. In 1997, the then Military Head of State, General Sani Abacha authorised five political parties to contest for positions in the State and the National Assemblies. Naturally, the gesture was opposed by some. Many observers were sceptical, but cautiously optimistic that a little politics would lead to a greater participation. Thus, UNCP GNPP CNC DPN and NCPN were formed. UNCP was the largest, with accomplished and budding public figures such as Atiku Abubakar, Joe Garba, Bode Olajumoke, Funso Williams, Ali Modu Sherrif, Emeka Ojukwu, Attahiru Bafarawa Pius Anyim and others involved in its formation. Princess, or ‘Derenle, as she was fondly called (behind her back by people younger than her) stood for and won a United Congress Party (UNCP) seat at the Federal House of Representatives with the in the parliamentary elections of April 1998. She later became Deputy Governorship candidate and running mate to Chief Dapo Sarunmi under the PDP, of which she was a founding member in Lagos State. Again, she stood for election to the House of Representatives in 2003 to represent the Eti-Osa Federal Constituency under the banner of the Progressive Action Congress (PAC), which she lost to Habeeb Fasinro of the Alliance for Democracy (AD). Princess joined the Action Congress and fought tirelessly with others for its victory over PDP in 2007 which brought in Babatunde Raji Fashola, SAN as Governor of Lagos State. The height of her service was when, like her father she served in the public service of her beloved Lagos State. She was appointed Secretary to the State Government (SSG) where she as SSG was the head of the Cabinet Secretariat, working with the Permanent Secretary and her very capable team. A demanding role. Together they would organize, and deal with the constant supply of records and memoranda flowing at the legendary long and intense cabinet meetings that

Princess Aderenle Adeniran-Ogunsanya characterised the hard work and discipline of Tunde Fashola SAN administration in Lagos. Derenle as were many of us, was proud of her participation in that administration; proud of the outstanding leadership that shone a light like a compass for the Nation. She was also “SSG” (“Senior Sister to the Governor”) an affectionate sobriquet given in appreciation of her amiable and inclusive disposition. She equally served the nation in many capacities, notably as a board member of the Nigerian Broadcasting Corporation. Inclusiveness was a key part her political activism. Princess Adenrele Adeniran-Ogunsanya repeatedly denounced the suppression of voting and participation in election rights – those legal or extra-legal measures that had the practical effect of reducing the voting and participation of members of a targeted group particularly indigenous groups, or gender. She frequently spoke up about indigenous inclusion in political representation not to the exclusion of anyone else but in recognition of home and community rights, as well as against the intimidation of women voters and restrictions against allowing

eligible voters to exercise their franchise. She was vocal, very vocal about a level playing field for local and indigenous participation in politics and public office. Princess Denrenle was a proud Lagosian. She cared deeply for her roots and the welfare of the less privileged in the State and beyond. She was equally proud of her Ikorodu stock, she would often break into the community’s traditional praise: “Ikorodu Oga, Ilu Kekere Oko Ilu banta ta” She was honoured by Ikorodu and served her immediate community as the Tenigbade of Ikorodu. She also held titles from much further afield as Owu Kingdom, where she held the title of Omowomuade; Emuren, where she was Mojibade; Odomola Epe where she was the Yeye Oba and Ita Ori where she held the title of Fiwagboye. In Lagos she was founder of the Lagos State Women’s Forum, while across the country she displayed a passion for women empowerment with courage and skilful, organised leadership. I recall talking to one of her political admirers recently during condolence visits to her homestead

in Ikorodu and hearing her say about Princess that she was always positive, whatever the new political hurdle was. “Don’t worry we will do it!!” was a common refrain. She was an eternal political optimist. But there was no more time. She passed on the 25th of January 2022. Ikorodu has lost a defender; Lagos State has lost an advocate; Nigeria has lost a great patriot. Her loyalty to causes, friends and her country was well acclaimed by all. Hers was a politics of service, amply demonstrated by her effortless association with the high and the low; the young and the not so young. Princess ‘Derenle Adeniran Ogunsanya married Dr Adeniran Adeniji, who survives her as do their children Adeniran (Jr); Seun; Adeniyi and Adefola; and her siblings led by Otunba Adeniran Ogunsanya (Jr) and cousins, including Chief Adewunmi Ogunsanya, SAN. She will be sorely missed by her family, friends, associates, men, and particularly women across Nigeria for her compassion, loyalty and dedication to the purpose of politics of inclusion. That loyalty and commitment calls to mind that common adage used for the most uncommon people - she was “a Patriot to the core”.

THURSDAY FEBEUARY 17, 2022 •T H I S D AY

THURSDAY, ͹Ϳ˜ ͺ͸ͺͺ ˾ T H I S D AY

FORTY-ONE APC GOVERNORS DIVIDED OVER NATIONAL CONVENTION, CHOICE OF CONSENSUS with Ekiti State Governor and Chairman of the Nigeria Governors’ Forum, Dr. Kayode Fayemi before he travelled on the matter, and the decision they both arrived yet to be disclosed. Nevertheless, due to the development, there is palpable tension, apprehension, and misgivings in the Progressive Governors’ Forum (PGF) over the choice of a consensus national chairman for the APC as there were also indications last night that the leadership of the party had begun to consider March for a possible new date for its national convention, earlier slated for Saturday, February 26. But one of the frontrunners for the chairmanship position, Mallam Saliu Mustapha, told THISDAY yesterday that the February 26 remained “sacrosanct”. Mustapha said with the kind of energy the caretaker committee was devoting to preparations for the convention he believed they knew what to do. Mustapha told THISDAY, “I

don't want to dispute or argue over speculation, since they have not come out officially to say it will hold or it will not hold. For now, we will still retain earlier information that February 26 is sacrosanct. So, if anything is contrary to that, we will have to wait for the official channel of the party to report it to all of us.” A few weeks ago, the interim national leadership of the party was forced to fix February 26 for the convention, after pressure from the APC governors and other aggrieved stakeholders, who had expressed their displeasures over foot-dragging on the matter. A crucial meeting between Buhari and the APC governors to fine-tune the zoning of offices and other matters during the convention could not hold on Tuesday as the president met with only Fayemi on behalf of the governors. The meeting with the APC governors to fine-tune zoning, was to enable the president disclose his

preferred chairmanship aspirant to the governors and pave the way for the zoning of other National Working Committee (NWC) offices. Explaining why the meeting did not hold as scheduled, a source in the presidency told THISDAY yesterday in Abuja that Buhari told some governors, who met with him individually that there was nothing on ground to suggest that the Buni committee was preparing for the national convention. The president, who left for Brussels to attend an African Union (AU) and European Union (EU) summit, had met with some of the governors, who had arrived at the villa early for the botched meeting. The governors included Ben Ayade (Cross River), Hope Uzodimma (Imo), Yahaya Bello (Kogi), Nasir El-Rufai (Kaduna), Simeon Lalong (Plateau), and Kayode Fayemi (Ekiti). The inside source stated, “We are now looking at March for possible date for the national convention. Like

the president said, there is nothing on ground to convince us that the caretaker committee is ready for the convention on February 26. “First, the committee has not been able to come out with a zoning formula for the various positions in the party. And we cannot go into the convention without all these things well-spelt out.” Both Uzodimma and Ayade also hinted on Tuesday that the convention date was not sacrosanct. The insider explained further that the Buni committee might have deliberately been pussyfooting around the convention because they had all long planned to hold the national convention and the presidential primaries the same day. A presidency source stated, “The committee wants to also be the one to conduct the presidential primary, but conducting the national convention on February 26 means that there will be a new national executive committee in place to conduct the presidential

primaries. “This appears to be the agenda of Mai Mala Buni-led committee. As I speak with you, the APC governors and other entrenched interest groups within the party are divided on the matter “Some governors, who met with the president on Tuesday, asked him who was his preferred chairmanship candidate. But, as usual, the president refused to disclose his interest. He only requested for the list of the 12 aspirants. And their names have been forwarded to the relevant security agencies for scrutiny. “However, the near consensus is that the national chairman of the party should go to the North-central zone.” But speaking with THISDAY, Mustapha said he did not want to dispute or speculate on a new date for the convention, since the party had not come out with an official statement on the issue. He said, “If you notice, the trend in the APC, even when the

AGAIN, NNPC APOLOGISES TO NIGERIANS, REVEALS FIVE VESSELS OF SUBSTANDARD FUEL REJECTED Kyari spoke this in Abuja while addressing the House of Representatives Committee on Downstream, during an investigative hearing on the importation of methanol-blended petrol. However, in a bid to end the fuel scarcity and clear the long queues at filling station in many parts of the country, petroleum products marketing companies, under the umbrella of Major Oil Marketers Association of Nigeria (MOMAN), have extended their opening hours in their jetties, depots and filling stations to a minimum of 18 hours. Kyari said with at least 2.1 billion litres of petrol in stock, the fuel queues would end by next week. The NNPC boss disclosed that given the current situation, five other vessels conveying their next supply had been rejected and were not allowed to sail into the country’s waters because they were coming from the same shipping terminal that sent the four substandard cargos. He stressed that the current challenge was because Nigeria imported all gasoline. Kyari said, "Not a single litre of petrol is generated in the country, that means 100 per cent of petrol you see in this country is imported. Those imports are done on the basis of existing contractual arrangements that we have. It is called the direct sale- direct purchase process, which is simply with the best of practice to enable our suppliers supply products to us on agreed terms and conditions. “We have been doing this since I came on board and its part of our supply mechanism. Even if all our refineries come up today, except Dangote Refinery, we will still be in short supply of premium motor spirit (PMS), because all of our refineries can only make 18 million litres of gasoline. Consumption is certainly above 18million litres." Kyari further explained that the four cargoes that in question met all the criteria on arrival and that was why they were allowed to discharge into terminals and convey into ship. While noting that there was no way, based on the current specifications, that they would know that the PMS contained methanol, as it was not part of their requirements at the load port, Kyari assured that they have been able to trace all the volumes and quarantine them accordingly. According to him, "By law, NNPC is required to ensure energy security. Therefore, it is our responsibility to ensure that we provide energy security for this country. This company must operate within the laws of this country and this is what we have always done, and this is what we will continue to do. “For this current situation, I assure you that we have taken every necessary step to restore supply into this country. We have placed orders significant enough for us to cross into March, with at least 2.1 billion litres of PMS in our custody. The situation you are seeing today I can assure you that by next week, it will vanish. “All things being equal, because of distribution issues that we may not have control over, including the movement of trucks, otherwise, we have robust supply arrangement to make sure that we exit this issue.

"On the basis of those contracts, our suppliers bring products to us and we reconcile with them regularly. Part of those supply arrangements is to give specification to your suppliers. These specifications are bound by regulation and the latest that we are using is the one that is in place since 2006. “The current specifications we have is what is the subject of all our import arrangement. So all our partners were given those specifications and on the basis of this, those imports were made. Before a vessel leaves the load port, they have to declare that those vessels meet our specification; they will send it to the importer and confirm that it is the specification. On the basis of that, you allow the sail away of the vessel.” Speaking further, he said, "Now, once it comes to the country, two things happen. We have NNPC surveyors, who are now also required to validate that this product that we have meets the Nigerian specification. “Also we have the regulatory authority who has to conduct an independent assessment to confirm that this product meets the specification that is in consonance with the existing regulation in the country. “In case of all the problems we have seen, four of the cargoes that are particularly in question today met all the criteria on arrival and that was why they were allowed to discharge into terminals and conveyed into ship. “There is simply no way, based on the current specification, that you will know these PMS contains methanol. It is not part of their requirements at the load port. So we did not ask them to declare whether it contains methanol because it is not part of our specification. “Let me make it clear that methanol is not contamination, it is a regular addictive to PMS. In China, up to 15 per cent PMS contain methanol. On its own it is not a contamination, the key issue is handling methanol. If we knew we will not accept this. Anytime methanol comes in contact with water it emulsifies, it turns into a different chemical." Kyari lamented that one of the challenges NNPC faced was lack of tracking mechanism to track trucks leaving the depot. He said this had aided smuggling, as some of the fuel was transported to places that might not be in this country. The GMD disclosed that NNPC had filed litigation against importers of the methanol-blended PMS considering the effect of the withdrawing the products across the country. He said, "What did we do? We have put all our suppliers who are our contacts or commercial angle on notice that there would be liquidated damages that will come from this. And also it is typical practice that we compile liquidated damages that the direct supplier did not cost, he will transfer that to the next person until it gets to the originating supplier, so it is a back-to-back arrangement. “That is always done so that once you file, it will get to the last one. I do not know how many people are in the chain because this PMS supply business in one cargo you can have three sellers, you can have

two, and you may have only one.” However, a member of the House committee, Hon. Adediji Olamide, in his submission, said ignorance was not an excuse in law. Olamide said the committee would need a lot of documentation that NNPC. Earlier in his remarks, Chairman, House Committee on Petroleum Resources Downstream, Hon. Abdullahi Gaya, noted that the investigative hearing was to ensure that the culprits were brought to book as well as make recommendations towards curbing a reoccurrence of the incident. He stated that the task ahead was challenging, including examining the lessons, proffering solutions and way forward, and rejigging supply and regulating the system to make them more effective and efficient.

Oil Marketers Move to Clear Fuel Queues, Extend Opening Period to 24 hours

Meanwhile, MOMAN said where possible, its members would extend their opening hours up to 24 hours a day in high density and flagship locations where the security situation permitted. The association stated that its members "shall operate these extended hours until the excessive queues subside." The association made this known yesterday in a statement signed by its Chairman and Managing Director of Ardova Plc, Mr. Olumide Adeosun. The statement added that it was working with the regulatory authorities and the Nigerian National Petroleum Company (NNPC) Limited towards a resolution of the current fuel crisis. Adeosun said MOMAN’s subject matter experts were active contribu-

tors to the technical and commercial committees’ set up by the regulatory authorities to re-stock fuel supplies, resolve the blending of contaminated product and identify losses suffered by customers, operators and third parties. He said MOMAN members were also working with designated laboratories to double-check the quality of product (re-blended or new) before they are released into the fuels supply chain. Most importantly, Adeosun maintained that MOMAN members had committed resources towards enhanced operations and associated activities to reduce the burden of the current fuel scarcity to customers. The association urged its customers not to engage in panic buying, as it might take a few days for normalcy to return, stressing that panic buying increases the pressure on the supply chain.

NANS Condemn Attempts to Instigate Crisis, Attack NNPC

,The National Association of Nigerian Students (NANS) has condemned an alleged attempt by some unscrupulous elements to hijack the adulterated fuel saga and resultant fuel scarcity to engage in a protest aimed to instigate crisis in the country and damage the reputation of the NNPC Limited. NANS also bemoaned the serious fuel supply disruption across the country occasioned by the importation of bad petrol, allegedly, by some approved dealers of the NNPC. The students’ body, in a statement issued yesterday and jointly signed by its National President, Asefon Sunday, and Secretary General,

Adekitan Lukman, said it was in receipt of credible intelligence that certain individuals had mobilised civil society organisations (CSOs) to embark on protests to paint the NNPC leadership in bad light. While acknowledging the avoidable situation the country had been plunged into as a result of the fuel supply disruption, NANS frowned on those it claimed wanted to make political gain out of a purely operational issue, urging them to have a rethink. The statement said, "While we acknowledge the avoidable situation we are in as a country after almost six years of no queues and scarcity, we frown on those who want to make political gain out of a purely operational issue and urge those behind the attempt to put a spanner in the smooth administrative structure of President Muhammadu Buhari at the NNPC to desist forthwith. NANS was in receipt of credible intelligence that certain enemies of the Kyari leadership wanted to use the petrol scarcity as a excuse to embark on protests to paint the NNPC leadership in bad light. The association demanded a speedy resolution of all issues and the normalisation of fuel supply across the country to ameliorate the hardship being experienced by Nigerians. NANS, however, commended the directive of President Muhammadu Buhari for an inquiry into the dire fuel importation mishap, which has put a strain on the supply chain and on Nigerians, saying it hoped the inquiry would be decisive and far-reaching.

governors met the other time, is that none of them has the authority to pronounce certain things unless endorsed by the authorised organ, and that was why Governor Mai Mala Buni was the one that spoke and gave a specific date for the convention. He is the chairman of the caretaker committee. “So, I will want to restrict myself to waiting for the official right channel to instruct or to indicate where we stand. As at today, I want to believe the convention is going to take place on February 26.” Asked to rate his chances in the race, the APC national chairmanship hopeful said, “I believe my chances are very bright and the sky is the limit for me. It has been very positive. Among 11 or 12 of us, we do not see it as a do-or-die affair. We have always approached each other as brothers in this game. “In fact, I just came across two of my fellow contestants now and the way we were laughing, hugging, playing, was amazing. For us, it is a family affair that can easily be resolved, because for us, we know what it is to have gotten to this point in our journey, and we would try to see that all hands are on deck so as to come out victorious and be able to continue from the gains already recorded by the present administration ably led by President Muhammadu Buhari.”

APC Governors Bicker over Consensus Option

Ahead of the planned convention, there appears to tension and cracks in different camps of the PGF over the choice of a consensus national chairman THISDAY gathered that the cracks followed a meeting between the governors of Kebbi State and Jigawa State, Atiku Bagudu and Mohammed Badaru, respectively, who were said to have secretly presented their choice of a consensus national chairman to Buhari, without the knowledge of the other governors. It was learnt that the two governors met with the president last week, where they sold the idea of Senator Sani Musa as a consensus national chairman of the APC. But other APC governors on hearing of the meeting rejected the choice of Musa, and insisted it was not made with their consent. Buhari was said to have clearly told Bagudu and Badaru that due process should be followed in picking the consensus chairman. The president, it was gathered, further told them to meet with Buni and other members to agree on the options that met his criteria. But the crisis rocking APC, insiders said, was compounded by the inability of the convention committee to announce a zoning formula for the national convention.

POLICE REPORT TO AGF SAYS KYARI VIOLATED CODE OF CONDUCT FOR LAW ENFORCEMENT OFFICERS said to have built way back. But the Chairman/Chief Executive of the National Drug Law Enforcement Agency (NDLEA), Brig. Gen Buba Marwa (retd), has said the arrest of Kyari, was a clear message that no one would be spared in the agency’s ongoing war against illicit drug business. However, the police report frowned at Kyari's conduct in "hobnobbing with suspected fraudsters and people of questionable means in his capacity as a senior police officer and the head of the IRT. "He had also violated the provisions of the Social Media policy (SMP) for the Nigeria Police Force by responding to the FBI’s indictment on his Facebook page without recourse to laid down procedure and also by his admission of broadcasting pictures and video clips to his contacts on social media. "Similarly, he violated the Nigeria Police Code of Professional Ethics by accepting complaints on such without recourse to established protocols. His claim that he forwarded an investigation report to the office of the Inspector-General of Police was established to be untrue. "The officer again violated the Code of Professional Ethics and the Nigeria Police Act 2020 by detaining Vincent Kelly Chibuzor for over a month in the cell without valid court order, without due regards to his fundamental human rights". The report further observed that all the four witnesses brought by

Kyari, namely, Usman Ibrahim Wazin Sikiry Adekoya, Hussaini Ala and Sharon Festus, were all accomplices and formed part of the internet fraud. The report cited the advice of the AGF, which stated that a prima facie case was established against him. "That there exists prima facie case of conspiracy, collaboration, receipt, conversion, transfer and/or retention of proceeds of unlawful activities contrary to the provision of Section 15, 17 &18 of the Money Laundering (Prohibition) Act 2004 and Section 17 of the Economic and Financial Crimes Commission (Est) Ac Cap Ef Laws of the Federation of Nigeria, 2004 against DCP Abba Kyari and other suspects in view of the overwhelming evidence showing the nature of his disguised financial transactions and activities with Abbas Hushpuppl, Efe Martins, Usman Ibrahim Weazirl, Sikiru Adekoya, Hussaini Ala and Sharon Festus who are all confirmed members of international internet fraud network. "However, the Honourable Attorney-General's advice is inconclusive as to whether based on the above quoted paragraph the officer can be proceeded against by way of or administrative sanctions. This is in view of the further stated advice of the AG that; "Although the facts and circumstances of this case as contained in the case file are suggestive to money laundering offences against DCP Abba Kyarl and his accomplices

namely: Abbas Hushpuppi, Efe Martins, Usman Ibrahim Wazirl, Sikiru Adekoya, Hussaini Ala and Sharon Festus. "In order to successfully prosecute them, there is a need for a more thorough dissecting and tracing of the suspected proceeds of crime received by DCP Abba Kyari, directly or indirectly through the said accomplices.” The report revealed how members of a syndicate led by international scammer, Ramon Abass, popularly known as Hushpuppi paid N235, 120, 000 to a younger brother to Kyari, adding that the suspended police officer equally funnelled N44m to his brother’s bank account in multiple transactions. The investigation report, which was submitted to the AttorneyGeneral of the Federation disclosed that a total of N279.120m flowed into Kyari’s younger brother’s bank account at various times from the cyber scam syndicate members, notably, Efe Martins, Sikiru Adekoya, Usman Ibrahim, and Hussaini Ala. “Sikiru Adekoya has at many times received money from Hushpuppi and Efe and has equally transferred money to Usman Ibrahim. Adekoya after initial denial of having any financial transaction with both Hushpuppi and Efe Martins, eventually admitted receiving various sums of money through transfers into his GTBank. "However, he could not offer

reasonable explanations of what the sums were meant for and what he did with the monies. The network of Hushpuppi Internet fraud syndicate consists of Efe Martins as the lead coordinator, who through his company, Efe Martins Integrated Concept Ltd., has at various times transferred different sums of money to Sikiru Adekoya, Usman Waziri Ibrahim, Hussaini Ala. “A junior brother to DCP Kyari is a major beneficiary of funds from the Zenith Bank account of Hussaini Ala from where he at different times received various sums totaling N218, 120, 000. He also received the sum of N44m in multiple transactions from DCP Abba Kyari,” the report stated.

How Kyari Earned Loyalty of His Boys

However, despite his suspension, Kyari still had his hold on the operatives and called the shots under the table through his deputy, ACP Sunday Ubua, who was also seconded to Disu. The IRT, an elite unit set up by then Inspector General of Police, was to tackle high profile crimes like kidnapping and even terrorism. Headed then by Kyari, the team soon made its mark as a squad that was out to tackle crime given the constant arrests and the category of cases they busted. But Kyari did not come upon Continued on page 43

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INAUGURATION OF THE FCT SUKUK TECHNICAL COMMITTEE... L-R: Perm. Sec., Federal Capital Territory Administration (FCTA), Mr. Olusade Adesola; Hon. Iduma Igariwey representing Chairman, House Committee on FCT, Hon. Abubakar Garba Idris; Senate Minority Whip, Sen. Philip Tanimu Aduda; Director-General, Debt Management Oﬃce (DMO), Patience Oniha; FCT Minister, Malam Muhammad Musa Bello; Chairman, Senate Committee on FCT, Sen. Abubakar Kyari, at the inauguration of the FCT Sukuk Technical Committee at the FCTA Oﬃce in Abuja... recently

Atiku: I Often Contemplate Whether or Not to Contest for PDP Presidential Ticket Chuks Okocha in Abuja

A former Vice President and the presidential candidate of the Peoples Democratic Party (PDP) in the 2019 presidential elections, Alhaji Atiku Abubakar, yesterday, said he was often in a dilemma over whether or not to continue with his presidential aspiration in the current dispensation. In a narrative sent to newsmen on what he said over his comments on zoning, Atiku said, "Sometimes, when I lay down on my bed, I begin to wonder whether I should go for this thing or not, because, the challenges are just too many." The narrative titled, "What Atiku

said to ‘The Fix Nigeria Group’ on zoning and age", he said, "I have never seen this country have so many challenges at the same time. Sometimes,when I lay down on my bed, I begin to wonder whether I should go for this thing or not, because, the challenges are just too many. "All my life, I have never seen the country in such a bad situation. As far as the unity of the country is concerned, we are more divided, in fact more divided even than when we fought the civil war. We were never as divided as this. "We never had breakdown of law and order like this. When we fought the civil war, it was confined

in a particular place, every other place was peaceful and we didn’t have this kind of poverty, where even the farmer could not go the field to plant what he will eat, not to talk of commercial quantity. "So, it is daunting task for anybody to come and turn things around. And, I have heard people talk about ‘oh… we should give it to a young man, or we should not give it to an old man, we should give it to a middle aged man, and so on and so forth. "Of course, they have the freedom of speech and they can say anything. But, fundamentally, the constitution says all of us can contest. The constitution has not

barred anyone of us. There is no zoning in the constitution. There is none. I was a member of the Constituent Assembly that drafted this very constitution," he said of the challenges in Nigeria. He said "as a multi-ethnic and multi-religious country, we felt that there should be a sense of belonging,” adding that, he had a heated argument with the late Dr. Alex Ekwueme over zoning. His words: "I remember that I had a very heated argument with the late Dr. Alex Ekwueme at the Constitutional Conference. I said, ‘Alex, you want to bring in zoning, because you want to breakaway this country.’ We had very heated

TUC Mobilises Workers for 2023 Election, to Hold Political Dialogue Says FG's reasons for fuel scarcity not genuine Onyebuchi Ezigbo in Abuja Members of the organised labour movement under the umbrella of the Trade Union Congress (TUC) have said they would kick-start its political engagement for the 2023 general election with political dialogue in a few days time. The congress while reacting to the current scarcity of Premium Motor Spirit (PMS), said organised labour was not impressed with handling of the situation by the federal government just as it expressed doubt at the reasons given by government for the return of long queues at petrol stations. Speaking at a press conference in Abuja, President of TUC, Quadri Olaleye said based on current travails and pains Nigerians had been experiencing occasioned by policies of government at various levels, the TUC has decided to play an active role in the 2023 general elections. On the fuel scarcity in the country, Olaleye said the TUC was presently monitoring the situation including the actions and policy decisions of government, adding at the appropriate time will respond. "We are watching the unfolding scenario and we will respond at the right time. They are playing games with the Nigerian people," he said. Olaleye listed some of the challenges to include: "abuse and

neglect of the country’s human and natural resources, threatening unemployment, insecurity, almost N40 trillion debt, devaluation of the naira, subsidy saga". He said the purpose of the briefing was to inform Nigerians and all genuine progressives of the determination of labour movement to engage and help chat a new course for Nigeria. "We are at a critical time in this country and the silence of the organized labour can no longer be said to be golden. If we miss it at this time, the damage will be too grave to bear. "To this effect, the Congress at its National Executive Council (NEC) in Asaba, the Delta State capital early last year constituted a Political Commission whose core responsibility is to provide a platform for workers to canvass for good governance, economic and social justice in Nigeria. A comprehensive Political Education Programme to achieve the mandate has been designed and we are assiduously working towards that," he said. Olaleye said TUC plans to commence a process of organising and mobilising workers and likemind political actors for political alternative to leadership problem in Nigeria. He said the roundtable is intended to provide a platform for active political engagement of workers, retirees and veterans

in trade union movement "To broaden the conversation on the need to change the leadership recruitment process in Nigeria through ensuring that credible leaders with great potentials emerge to lead at various level. "To strengthen the democratic process and promote social democracy. To generate continuous conversations on free, fair, and credible electoral process and good governance in Nigeria," he said.

He said lack of active participation of organised labour in Nigerian politics had continued to generate a lot of concern amongst trade unionists, scholars, political class, opinion leaders and other commentators. According to the TUC president, organised labour has not successfully tapped into the opportunity provided in a liberal democracy which emphasizes grassroots participation and negotiation of interest.

debate with him and later on, I apologised to him and told him: ‘You reason better than myself. I was emotional in my reasoning. I think the zonal thing that you are proposing is a good thing. "I assure you that as far as I am concerned, I will observe and implement whatever will bring about the peace, unity and stability of this country. I met an Emir three nights ago, he is not from my state. He is from one of the other states and he said to me that, ‘You know why I support you strongly to be president?’ “What are you looking for at this age? You have married finish, you don born finish. You have everything. But my fear is that if I go and give it to a young man, he may be looking for women to marry; looking for a car to buy or a house to build. Now, what are we saying?’ I laughed. I said: ‘Well, it doesn’t follow. "God endows leadership. You can have a young thirty years old man and he will do better than an old man. So, leadership is an endowed attribute of God. We should try to look for such a person, who has been endowed," he explained." On the Electoral Act and the forthcoming presidential primary of the PDP, Atiku said, "In the draft Electoral Act, we have three options: direct, indirect and consensus. Each political party will now decide which option it will adopt. Then, we will know. “But my senses tell me that the PDP will go for the indirect

primaries, because, we believe that that is the most efficient and that is the less expensive and also it brings politically enlightened members of the party to make a very important decision for the party, on behalf of the party. "So, we still have a little bit of time to wait. Hopefully, before the end of this month, we will have the Electoral Bill signed into law." He said, what is important is that, "We have people, who are already statutory delegates, meaning, governors and former governors; senators and former senators; members of the House of Representatives and former members of the House of Representatives – who are still members of our party. Do you understand? "And then, we have elected delegates, right? Now, these elected delegates are the people that we don’t know. But we already know who the statutory delegates are. So, currently, the statutory delegates should be our targets. These are the people that we must reach out to until the party lets us know, who the elected delegates are. This is how we will form the Electoral College that will elect the candidate. I believe that, you will work towards. "Many of you are friends with members of the National Assembly; many of you are friends with current and past governors and so on and so forth. These are people that you should target or you should lobby and let them know that this is the person that is best suited for our party, if you want to rescue the country," Atiku stated.

BPE Hands over Aba Ring Fence Area to Geometric Power Ndubuisi Francis in Abuja The federal government has finally resolved the protracted mandate tussle between Geometric Power and Interstate Electric Limited, the core investor in Enugu Electricity Distribution Company (EEDC) over the Aba Ring Fence Area. The resolution was finally sealed as the Bureau of Public Enterprises (BPE), yesterday handed over the power asset to Geometric Power. BPE Director General, Mr. Alex Okoh, who conducted the handing over, noted that the ceremony signposted another notable success under the Buhari administration’s sectoral and enterprise reform programme. Okoh recalled that the protracted transaction and the related issues had posed a serious challenge for successive administrations since

2005. He stated however, that the resolution of the issues had been a top priority for the administration. In order to achieve this, Okoh said the BPE initiated a series of engagements with all the stakeholders, which led to the signing of the term sheet between Geometric Power and Interstate Electric Limited on one hand, and an agreement between the federal government, Geometric Power and Interstate Electric Limited on the principles that would guide the resolution of the licensing overlap between EEDC and Geometric Power, as well as the sale and transfer of the Asset by EEDC to Geometric Power. According to him, following the approval of the transaction by the National Council on Privatisation (NCP), the BPE (on behalf of the federal government) and Interstate

Electric Limited executed an Asset Transfer Agreement, through which they transferred their respective interests in the Aba Ring Fence Area to Geometric Power. He stated that the transaction would generate some revenue for the federal government. Okoh added that of more importance was that, "we are handing over this asset to a very tenacious investor that has made a firm commitment to transform the Aba Ring Fence Area into a model electricity supply franchise, providing quality, stable and affordable electricity to consumers, thereby unlocking the significant economic benefits of this commercial and industrial hub of the regional economy. " He stressed that while there may be a number of challenges facing the electricity sector, the

federal government had repeatedly demonstrated ample commitment to resolve these issues and to create an enabling environment that would attract and incentivise private sector capital into the sector. "I wish to thank His Excellency, President Muhammadu Buhari for his resolve to bequeath a functional power sector to Nigerians. I would also like to thank His Excellency, the Vice President for his wisdom and guidance on this transaction. I also wish to acknowledge the collaborative efforts of Geometric Power and Interstate Electric Limited in addressing the outstanding issues and bringing this transaction to a successful conclusion. "Lastly, I would like to congratulate Geometric Power on the acquisition of the Aba Ring Fence Area and wish you the very best in your future endeavours," Okoh said.

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NEWS

EVERYWHERE YOU GO, OGUN SHOPPING FOR INVESTMENTS... L-R: Ogun State Commissioner for Agriculture, Dr. Samson Odedina; Senior Business Development Manager, Orascom Construction (Egypt), Emad A. Boulos; Governor of Ogun State, Prince Dapo Abiodun; Business Development Manager Orascom Construction, Ahmed Elzoghby; Commissioner for Finance/Chief Economic Adviser, Ogun State, Dapo Okubadejo, and Senior Manager Trade & Corporate Finance Intra-Áfrican Trade initiative Afreximbank, Ayman El Zoghby during an investment meeting with the global giant in Cairo, Egypt... yesterday

FT Report: Nigeria’s Gas Ambition May Collide with Global Banks’ Plan to Cut Hydrocarbon Financing Dike Onwuamaezze The Financial Times (FT) of London has reported that Nigeria has remained firmly wedded to oil and gas and far from weaning itself off hydrocarbon as the country plans to double its daily crude oil production to four million barrels at a time of global energy transition to greener energy initiatives. The newspaper also stated that Nigeria’s gas ambitions could rub against the changing priorities of western banks and donors, which are being pressured by shareholders and governments to abandon lending to hydrocarbons projects. These were contained in a latest FT report on Nigeria titled: “Investing in Nigeria,” which stated that Nigeria looks more like “a failing state than a

superpower,” in spite of its standing as Africa’s biggest economy and most populous country. The London-based newspaper observed that, “successive administrations, both military and civilian, failed to translate the country’s enormous oil wealth and diverse talents into sustained economic development.” It added: “Instead of investing in comprehensive basic health and education, and the infrastructure, both physical and institutional, necessary for economic take-off, decades of oil money have been squandered on badly maintained white elephants, consumption and outright theft.” The FT report quoted the Managing Director of Nigerian National Petroleum Corporation, Mr. Mele Kyari, as saying that

Nigeria intended to increase its crude oil production to four million barrels per day (mbpd), up from the present volume of 1.8mbpd. Kyari said: “We do not think the world does not want oil anymore; it’s just the use of oil will change. The best companies producing the cheapest oil will still have a market. “With a competitive fiscal environment and the right regulatory framework, we know for sure investment will come in.” Speaking in the same vein, the Head of Corporate Funding at Africa Finance Corporation, Ms. Modupe Famakinwa, was quoted to have said it would be, “shortsighted to boycott gas projects when the alternative might well be worse: charcoal for cooking, diesel for home generators or coal

for power stations. Everybody is keen on renewable energy but there are so many other valuable projects. You can’t just turn gas off.” But Vice President, Prof. Yemi Osinbajo, according to the FT, argued forcefully in an article in the journal Foreign Affairs for a halt on the ban on financing fossil projects. “After decades of profiting from oil and gas, a growing number of wealthy nations have banned or restricted public investment in fossil fuels, including natural gas,” Osinbajo complained, adding that, “the transition must not come at the expense of affordable and reliable energy for people, cities, and industries.” The report also argued that the Nigerian Exchange Limited was becoming moribund and seeing a

reduction in the number of quoted companies on its platform, adding that the bourse had been struggling to attract new listings. The report stated that reduction in the number of quoted companies has remained despite the fact Nigeria’s main share index shot to a 13-year high in January 2022, to a level not seen since the 2008-09 global financial crisis. The Head of Macro Strategy at Renaissance Capital, Mr. Charles Robertson, was quoted to have said: “With oil prices recovering, it should be a good environment for Nigerian equities. But it’s hard to have a dynamic local equity market when there aren’t professional foreign investors coming in.” Similarly, the Head of Equity Research at Tellimer, Mr. Hasnain Malik, noted that the growth of

Nigeria’s equity market has remained slow despite the recovery in the oil price to above $90 a barrel. Malik explained: “It’s simply not growing that fast. When you look at the composition of what’s listed and what’s traded, it’s a market that’s dominated by banks and consumer companies, none of which are growing out of kilter with the economy as a whole.” He attributed the low trading activities on the exchange to the fact that Nigeria’s all-share index contained few large companies, such as Dangote Cement and MTN Nigeria, a big mobile telecoms company, whose majority shares are still owned by their parent companies, implying that their “shares are not nearly as heavily traded as their size would suggest.”

accurate and professionally done especially, in the business of drug control, drug abuse, trafficking, there are technicalities that you need to get sufficient knowledge of the terrain so that when you get the word out, it is gotten out accurately,because you mould the opinions of millions. It is for this reason that I urge the journalists to please take this training seriously and take full advantage of it. “While we are at it, there is an ongoing play, which we are witnessing and I have followed the role of the media even in it. It is a serious business that is ongoing. We all are responsible. We want a drug-free nation. We may not get to zero level, but definitely there is a certain minimum acceptability standard that we are all pursuing. And those given the responsibility to fight crime, which includes the matter of drugs cannot themselves be proponents of it. This message I believe we have sent abundantly clear.” Responding, Country Representative of United Nations Office on Drugs and Crime (UNODC), Oliver Stolpe, said more is still required to be done in the fight against drug abuse. He said, “I think there is still more to be done, because I still believe that most Nigerians perceive drug use as more of a failure of some sorts, of basically those people that are using drugs. “It has not yet been fully appreciated that drug use is a health condition first and foremost and it is a health condition that affects this nation much more severely than I think there is a true awareness of.”

IG Wants CJN to Enable Law Dept in Police Academy

POLICE REPORT TO AGF SAYS KYARI VIOLATED CODE OF CONDUCT FOR LAW ENFORCEMENT OFFICERS such a team by happenstance; he had groomed them from Lagos, when he was the commander in charge-of-the-state (Special Anti Robbery Squad SARS), although now disbanded. While at SARS, the team forged stronger through cracking cases but were at different times accused of extra judicial killings and other allegations of fraud and obtaining money from families of suspects to release them. The case that brought him to national limelight was that of Evans Onwuamadike, the 'Billionaire kidnapper', who was arrested by Kyari and his team. Although the ground work that led to his arrest was done by DCP Tunji Disu, who was at that time the Commander of the Lagos State Rapid Response Squad (RRS) with support from then Commissioner of Police, Fatai Owoseni, Kyari and men took the glory and promotions that came with it. But the high profile arrest was tainted by how Kyari's men allegedly re-looted the loot Evans obtained from his victims, forcefully. During the raid, the operatives were alleged to have packed both local and foreign currencies, exotic phones, designer wristwatches, jewelry, television and even glass cups. In a petition by Evans through his lawyers, he accused Kyari and men of forcibly taking N50 million from him and N5million from his wife under the pretext that he would be released on bail. Evans also deposed in the affidavit that he was dispossessed of $10,000 by the same police officers.

For each operation, the bond between Kyari and men forged stronger as they weathered one allegation after the other. It was part of measures by the police hierarchy to cut the seeming excesses of the group that IRT alongside the STS, was integrated into the Force Intelligence Bureau (FIB) headed by Ibrahim Lamorde. In spite of that move, the team was still dogged with countless petitions and allegations of human rights abuse and corruption. Yet, there was seemingly nothing much the authorities could do because of the godfathers said to be behind Kyari. But following his suspension by the PSC on the recommendation of the present IGP, Baba, over the Hushpuppi case, it seemed he was finally caged. Unbeknownst to the police hierarchy, he was still calling the shots at the IRT despite the capable hands of DCP Tunji Disu, who was detailed by the IG to take over the unit. THISDAY checks revealed that Kyari was still carrying out discreet illegal operations through his then deputy, who was as well seconded to Disu, when he assumed office. A senior officer, who spoke on anonymity to THISDAY from the force headquarters said when Ubua was questioned by the IG, he said he was forced to obey orders from Kyari, because the suspended DCP assured him he would soon be reinstated by the force. But when the NDLEA authorities briefed the IG on the case against Kyari and his men, they were all invited for questioning and Disu

said he handed over to his deputy, because he had an operation to carry out in Sokoto. This much was confirmed by the deputy, who said he carried out the operation without informing the head of the unit on the request of Kyari. The source said: "The force is at a terrible spot at the moment. How did DCP Kyari think for a moment that he would be reinstated after the FBI fiasco? Who was giving him such assurance? It was a stunned IG, who heard that he kept assuring his boys that DCP Disu would be removed and he would be reinstated. "That, however, does not exonerate ACP Ubua, who should know better than to place loyalty to man over the police force he pledged to serve. The only good thing that came out from this was that the IG finally signed the appeal by DCP Disu to allow him raise his own team and not use those inherited from his predecessor." THISDAY carried out subsequent checks on what gave Kyari such hopes that he would be cleared as usual and reinstated despite the damning allegations by FBI. Another source in the know said Kyari was parroting that the Indigenous People of Biafra (IPOB) was behind his woes. His words: "When the Hushpuppi incident happened, he reassured us that it would soon fizzle out and he would be reinstated. According to him, his woes were orchestrated by IPOB given that he had arrested some of them in different operations. "He told us that the FBI lawyer

had Igbo affiliations and was probably sympathetic to the Biafra cause. So, we shouldn't worry, because his godfathers were on top of the case to get him reinstated." But contrary to allegations that the police authorities had scrapped IRT and STS, the IG has set plans in motion to sanitise the units by posting fresh officers that would be ready to take instructions from their commander.

Marwa: Kyari’s Arrest, Clear Message NDLEA is Committed

The Chairman/Chief Executive of the National Drug Law Enforcement Agency (NDLEA), Brig. Gen Buba Marwa (retd), has said the arrest of Kyari, was a clear message that no one would be spared in the agency’s ongoing war against illicit drug business. Marwa said this on Wednesday in an address in Abuja during a training on the Sensitization on Drugs and Drug Prevention, Treatment and Care (DPTC) organised by the United Nations Office on Drugs and Crime (UNODC) for NLDEA personnel and selected journalists. He said the system could not allow those given the responsibility to fight crime, which included the matter of drugs, to themselves be proponents of it. The anti-narcotics czar said the fight against drug abuse was serious business and the agency was committed to pursuing a drug-free nation. He said: “The media has a very important role to play in our society. The business of getting information out needs to be

In a related development, the Inspector-General of Police, Mr Usman Baba, yesterday, sought the collaboration of the Chief Justice of the Federation (CJN) to enable the accreditation of the law department of the Police Academy, Kano, to participate in the law school programme. The IG made the call, when members of the force management team paid a courtesy visit to the Chief Justice of Nigeria, Justice Ibrahim Tanko Muhammad, in his office at the Supreme Court of Nigeria, Abuja. A statement by Force Headquarters said the visit was aimed at solidifying the synergy between the police and the judiciary as key players in the criminal justice system of the nation with a view to ensuring a smooth and efficient dispensation of justice. "The IG equally sought the collaboration of the CJN in accrediting the legal department of the Nigeria Police Academy, Wudil, Kano State to enable its graduates proceed for further studies at the Nigerian Law School. "The IGP emphasised that this will ensure the police have more lawyers within its pool to strengthen its prosecutorial duties and hopefully produce more Senior Advocates of Nigeria (SAN) in the future", it said. The CJN appreciated the visit which was the first of its kind ever by a sitting IG and commended Baba for his thoughtfulness, while expressing readiness to continually partner the Nigeria Police Force for seamless justice administration.

THURSDAY, ͹Ϳ˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

INTERVENTION PROJECT REPORT... L-R: Senator Shehu Sani; Panellists, Ayo Obe; Head, Tracka; Uadamen Ilevboaje, Country Director BudgIt Foundation, Gabriel Okeowo; Director, MacArthur Foundation, Kole Shettima; and an assistant PHOTO: KINGSLEY ADEBOYE commissioner ICPC, Jimoh Sulaiman, during the launching of 2021 Tracka Zonal intervention project report, held in Abuja ... yesterday

Senate Spokesman: It’s in Nigeria’s Interest for Buhari to Sign Electoral Bill Says lawmakers will not respond to president’s appointees Emmanuel Addeh in Abuja Chairman, Senate Committee on Media and Public Affairs, Senator Ajibola Basiru, yesterday maintained that it’s in the interest of the country for President Muhammadu Buhari to immediately sign the much-talkedabout electoral bill into law. Speaking on ARISE Television, THISDAY’s broadcast arm, the senate spokesman explained that the lawmakers were awaiting the direct response from the president,

rather than listening to comments made by his aides. The Minister of Justice and Attorney General of the Federation, Abubakar Malami (SAN), had hinted that the president may withhold assent from the bill if it is considered to have proposals based on personal interests. Buhari had withheld assent to the first version of the bill last year after consulting Malami and the Independent National Electoral Commission (INEC), among others,

on the bill. Although time is fast running out before the 2023 polls, the president has not made any direct comment since the bill was reworked and forwarded to him for his assent in the latest instance. Also, the President’s Senior Special Assistant, National Assembly Matters (Senate), Babajide Omoworare, had said that consultations were ongoing by the president before assenting to the bill. But the senate spokesman stated

Reps Move to Investigate State of Airports, Airlines, Agencies Juliet Akoje in Abuja The House of Representatives has mandated its Committees on Aviation, Human Rights and Commerce to investigate the state of Nigeria’s airports, activities of the airline operators and the coordinating agencies in the aviation sector. The committee are expected to report back to the House within Eight weeks. This was sequel to the adoption of a motion on the need to investigate the poor performance and high charges by airline operators in Nigeria moved by Hon. Simon Elisha Karu, at plenary on Wednesday. Karu, during his presentation noted that the constitution of the Federal Republic of Nigeria, 1999 (as amended) places aviation within the legislative competence of the National Assembly and by virtue thereof, the National Assembly enacted the Civil Aviation (Repeal and Enactment) Act, 2006 and established the Nigerian Civil Aviation Authority (NCAA) as the regulator of the aviation sector in Nigeria. He said the Federal Airport Authority of Nigeria (FAAN) is statutorily charged with the responsibility to manage commercial airports in Nigeria to provide service to the passenger, cargo airlines, create a conducive environment for efficient management of air transport services and promote economic development in the country.

Adding that airlines authority has a duty to provide customer assistance and services towards ensuring that passengers get conducive and hospitality environment as well as to get the right information relating to their bookings and adequate flight schedule amongst other duties. According to him, the International Air Transport Association (lATA) Economic Reports 2020, which states that the air transport industry in Nigeria, including airlines and its supply chain, were estimated to support $600 million of Gross Domestic Product (GDP) in Nigeria despite the enormous potential of the industry in Nigeria. "Nigerians have not enjoyed domestic air travel due to constant delays and cancellation of flights with impunity and change of airline departure time contrary to regulations of the NCAA and in contravention of International Aviation Standards, recently, the burden of domestic air-travellers in Nigerians was increased by the sudden 120 per cent increase in local airfares in the country." "The Air Traffic Controllers (ATCOs) lamented the deplorable state of the airport in Nigeria and in an interview, the controller stated that the airport authority needs at least 600 to 650 ATCOs for effective management and monitoring of the control tower as it is dangerous to have just one controller on duty," he said. He further explained that Lagos Airport had issues with the automated common user check-in platforms been shut down, on the other hand, the foreign airlines

are conducting a volume of passenger facilitation by improvising alternative platforms to check-in passengers and necessary screening, the system shutdown led to chaotic scenes in all the four international airports - Lagos, Abuja, Port Harcourt and Kano, but it was later learnt that the foreign automation company, State Information Technology Agency’s (SITA) 10-year contract with FAAN expired in May 2021.

that, as it is, the lawmakers have done their jobs as they should, explaining that the senate needs to hear directly from the president before taking any further action. “For now, we are, to use the legal term, presently functus officio. As far as the electoral bill is concerned, we have done what we thought should be done and we have transmitted it to the president. “It is now left for the president to decide. I wouldn't know, I'm not privy to what's happening in the presidency. So I wouldn't know whether he quietly ignored or loudly ignored, but what I know is that we have to wait whether he will either express assent or withhold assent. “So, I think it is only when we hear from him that we will do anything. And of course, when I heard a statement credited to the chief law officer, and I was asked for a response , my response was that I cannot join issues with an appointee of the president, until we receive direct communication from the president,” he stated. According to Basiru, it will be in the interest of the nation for the president to sign the bill so that the country can conduct credible polls

in the next set of elections. While calling on the president not to allow either personal interest or those of his aides becloud the benefits of the bill to Nigerians, Basiru noted that the document when assented to would streamline the country’s electoral processes. He added: "But I want to say that it will serve the nation well if Mr. President assents to the electoral bill today. We cannot allow personal interests of political appointees or individuals, even if elected, to stand in the way of fair, credible election in Nigeria. “There’s a correlation between good governance and genuine democratic practices that will assert the pressure on political actors to act in the well-being of the people if they are sure that in a fair , credible election, they will be rejected by the people. “So, we ask the president to allow the electoral act, which is an innovation, particularly in the area of electronic identification, also in the transmission of election results, and also ensuring that we streamline the class of election petitions. “Beyond the issue that ought to be a matter of internal affairs of political parties, because as far

as I am concerned, issues of the emergence of candidates should not be a subject matter in the electoral act. But since it has been introduced, we thought that there’s the need to streamline it and ensuring credibility,” he pointed out. The senate spokesman posited that ordinarily, the issues of primaries should be left to the parties to decide, explaining that the qualifications for contesting any political position is a constitutional matter. “And as to the issue being raised about the resignation of political appointees, for me, it is also a constitutional matter. “Whether that provision can stand in view of the constitutional requirement of qualification is also a matter for the judiciary, not even for the legislative houses. My own understanding of the law is that qualification for an office is stipulated by the constitution. “So, if a person is otherwise qualified, by the position of the constitution, can an electoral act disqualify such a person? I believe that it is in the interest of the genuine, credible, democratic majority of Nigerians that the president should sign the electoral bill into law,” he argued.

Unlawful Suspension: Industrial Court Orders OGFZAA Manager to Testify against US Firm

Alex Enumah in Abuja

A Manager with the Oil and Gas Free Zone Authority Administration (OGFZAA), Mr. Funmilayo Omosule, would on April 4, give his evidence from the United States of America (USA) in his suit challenging his suspension from the organisation. This followed the adoption of virtual proceedings by the National Industrial Court in Abuja, to resolve the over five years old legal battle against his alleged unlawful suspension. Justice Olufunke Anuwe in a ruling granted the request for virtual proceedings to fastrack resolutions of all issues surrounding the case. Counsel to the plaintiff, Dr. Tunji Abayomi, at the resumed hearing on Monday, applied to the court to invoke Order 37, Rule 2 of the

National Industrial Court to bring the legal battle to a final end. In the application, the senior lawyer lamented that the case challenging mere unlawful suspension had dragged for years, adding that it is in the interest of justice that the court should take necessary steps to resolve the suspension order. Abayomi said the plaintiff has only one witness, who is in the US for medical treatment, adding that all documentary evidence front loaded to the court by Omosule were not disputed by the defendant, hence the need for quick resolution of the matter. He maintained that the witness was fully prepared to give evidence in the matter through virtual proceedings. However, OGFZAA's lawyer, Mrs. Peace Ogbonna, did not object the accelerated hearing but said

that the delay in resolving the suspension legal battle was not at the instance of her client. Ogbonna informed the court that she also has just one witness to testify in the matter. In a brief ruling, Justice Anuwe agreed that the issue in dispute is a narrow one and does not need to suffer unnecessary delay. The judge held that the case had been ripe for hearing since 2017, adding that since parties have joined issues with each other, the court would proceed with the trial. Justice Anuwe therefore ordered accelerated hearing and fixed April 4, for definite hearing in the legal battle. Both OGFZA and Omosule had been locked in fierce legal battle to resolve the legality or otherwise of the his suspension, following his petition against some

management staff of the agency on alleged corruption. Omosule, who is the claimant in the suit is seeking for the sum of N50m as exemplary and general damages over his alleged suspension. OGFZAA had via a letter dated April 18, 2011, suspended Omosule as the manager of its Abuja office, on the grounds that he refused to comply with its letter dated December 3, 2010, which had directed him to present the originals of his credentials for verification. Omosule, however, refuted the claim of the authority, stating rather that he made available to the defendant, Certified True Copies (CTCs) of his educational certificates /credentials, including GCE ‘O Level certificates and degree certificates as instructed.

THURSDAY FEBRUARY 17, 2022˾ T H I S D AY

NEWS

Air Strikes Decimate Terror Commander, 41 Insurgents Kingsley Nwezeh in Abuja

Air strikes undertaken by Nigerian Air Force (NAF) aircraft under Operation Hadin Kai yesterday neutralised Dogo Umaru, a key terrorist kingpin loyal to the notorious terror leader, Bello Turji and 42 others. It was also gathered that the air strikes were authourised after Dogo Umaru and his cohorts were confirmed to have orchestrated series of attacks on Magama village in Jibia Local Government Area (LGA) of Katsina State which led to the death of the Magana Divisional Police Officer and wounded a Nigerian Army (NA) soldier. Dogo Umaru and his foot soldiers have been known to stage their attacks on surrounding villages from a nearby school, Tsamben Dantambara Primary School, which has since been deserted. After trailing the terrorists to another nearby primary school near Tsaunin Babare Village, two aircraft were dispatched to the location. Overhead the location, one of the aircraft engaged the terrorists in successive passes. Also, terrorists, who were seen fleeing for safety were equally mopped-up by the second aircraft. Feedbacks from the locals residing

near Tsamben Babare village revealed that 42 terrorists were obliterated in the NAF air strikes, including Dogo Umaru. Other sources revealed that several other terrorists also

sustained varying degrees of injuries as a result of the air strikes. The armed forces have, recently intensified attacks and air strikes against terrorists operating

in the North-west and North Central. Last week, air strikes by NAF aircraft in Kaduna and Niger States eliminated scores of terrorists near the Nigerian Defence Academy and along

Shadadi-Maundu respectively. Similar successsful operations were recorded in Operation Hadin Kai in the North-east. “With new platforms in their inventories as well as the

purposeful and focused leadership that abound, it is now believable that the end to the meaningless and senseless killings by these terrorists is in sight”, a security source said.

PROMOTING CORPORATE GOVERNANCE…

L-R: Associate Director, Institute of Directors of Nigeria (IoD), Jazuli A. Lawal; Registrar/ Chief Executive, Chartered Institute of Bankers of Nigeria(CIBN), Seye Awojobi; Managing Director/CEO, Development Bank of Nigeria(DBN) Plc, Tony Okpanachi; Chairman, IoD Centre For Corporate Governance, Shuaibu Idris, DBN Executive Director Finance & Corporate Services; Ijeoma Ozulumba; Ag. ED/CEO, IoD Centre for Corporate Governance, Nerus Ekezie during a visit to DBN’s Corporate Head Office in Abuja… recently

Oni Joins SDP, Urges Voters Court to Decide Whether to Quash Kanu’s Trial, April 8 Awka, Nnewi, Onitsha grounded over sit-at-home order to Shun Vote Buying VictorOgunjeinAdoEkiti After keeping supporters in suspense for weeks about his political direction, former governor of Ekiti state, Chief Segun Oni , yesterday officially announced his defection to the Social Democratic Party ( SDP) to contest the June 18 governorship election in the state. Oni, who was governor between 2007 and 2010 in the state lost the January 26 People’s Democratic Party (PDP) governorship primary to former chairman of the party, Bisi Kolawole. He had cited cases of alleged irregularities, which made him to dump the party three weeks ago. Speaking in Ado Ekiti capital on a

radio station programme,Oni revealed that the necessary paper work by the national leadership of the SDP for him to be the party’s candidate and his running mate would soon be concluded with the Independent National Electoral Commission (INEC). The Ifaki-born politician disclosed that no fewer than four aggrieved governorship aspirants in the All Progressives Congress (APC) , members of a factional group in Ekiti APC, the South West Agenda for Asiwaju 2023 (SWAGA), members of the repositioning group in the PDP and others are forming what he described as a grand collation to win the election.

Labour Gives Niger Govt 14-day Strike Notice

Laleye Dipo inMinna

Organised Labour in Niger State has said the state government is now “very rich” and is capable of meeting its financial obligations to its workers. Organised labour based its assumption on the fact that the amount accruable to the state since the third quarter of 2021 has been on the rise. It added that the Internally Generated Revenue (IGR) of the state has been on the increase since the same period. Besides, labour said that like many other states in the country Niger state benefited from “ bailout funds” from the federal

government. On the strength of the foregoing the State Action Committee dismissed the continuous no fund rhetorics of government as insincere and has given a 14-day ultimatum of an indefinite strike. In its letter to the Head of Service dated 14 February 2022, the State Joint Action Committee of the NLC demanded that “ Government should immediately resume payment of gratuities to desirable pensioners and defray the arrears of June 2020 salary (30 per cent) and also defray the backlog of Cooperatives, Endwell and Union dues debts.

Osun Govt Paid Students to Protest against NSCDC, Group Alleges Yinka Kolawole inOsogbo A civil society group in Osun State, Concerned Citizens of Osun, has claimed that the state government paid a sum of N1 million to the leadership of National Association of Osun State Students (NAOSS) to protest against the Nigeria Security and Civil Defence Corps (NSCDC) in the state. According to the group, NAOSS leadership was procured to stage the protest by the government through a Senior Special Assistant

to the Governor, saying that the demonstration against the NSCDC was politically motivated. The group in a press statement signed by its Public Relations Officer, Afeez Olakunle, said it was unfortunate that the state government is dragging students into the internal crisis rocking the All Progressives Congress (APC) in the state. It noted that the action of the students is nothing but a show of shame and display of condemnable partisanship.

Alex Enumah in Abuja and David-Chyddy Eleke in Awka Justice Binta Nyako of the Abuja Division of the Federal High Court, will on April 8, decide whether she can continue with the trial of detained leader of the Indigenous People of Biafra (IPOB), Mr. Nnamdi Kanu. Justice Nyako yesterday adjourned to the said date to deliver her ruling in the application filed by Kanu seeking to quash the charges brought against him by the federal government. This is just as the sit-at-home called by IPOB, yesterday grounded commercial activities in Onitsha, Nnewi, Awka, and other cities in Anambra State. The sit-at-home

order was observed following appearance of Kanu in court yesterday. The IPOB leader is standing trial on an amended 15 count charge bordering on alleged reasonable felony, amongst others. Although he had pleaded not guilty to all the charges, he however filed an application to quash the charges for lacking in merit and having no substance. At yesterday’s proceedings, Kanu’s lead lawyer, Chief Mike Ozekhome, SAN, before arguing the application to quash the charges and free the IPOB leader, complained bitterly that the Department of State Service (DSS), have continued to defy court’s orders that Kanu be allowed to change his clothes.

Ozekhome said, for three times, Kanu’s younger brother has been refused access to DSS facility where Kanu is being kept. More so, the lead counsel lamented that since Kanu was arrested and detained, his eye glass was seized by the DSS and has not been returned to him. “My Lord, we demand that the reading glasses of the defendant be returned to him. We can’t afford to allow him go blind,” Ozekhome stated. He also urged the court to quash, strike out and dismiss the 15-count amended charge against Kanu for being “incompetent and denying the court of jurisdiction” to entertain the 15-count amended charge. However, federal government’s lawyer, Mr. Labaran Shuaibu,

urged the court to discountenance the submission of the defendant, adding that Kanu’s deposition in some paragraphs of his application touches the substance of the case. Labaran, therefore urged the court to dismiss the application and ordered the defendant to face his trial. Meanwhile, the prosecution told Justice Nyako that the clothes brought by Kanu’s brother offended the service’ operational procedure, hence their refusal to accept the clothes. The cloth is a traditional Igbo attire with the inscription of a lion’s heart. Following the DSS statement, the judge asked Kanu, “what type of cloth do you want to wear?

2023: Demand for Regional Consideration, Threat to Nation’s Unity, Says Baraje Hammed Shittu in Ilorin Former National Chairman of the opposition, Peoples Democratic Party(PDP), Alhaji Abubakar Kawu Baraje, has said that the ongoing agitations by some regional groups in the country for the emergence of nation’s presidency come 2023 is a serious threat to the nation’s unity. Speaking in Ilorin yesterday ahead of his installation by the Emir of Ilorin, Alhaji Ibrahim Sulu-Gambari as the new Tafida of Ilorin, the PDP chieftain said that Nigeria had never been this

divided. According to him, “I know that all sections of Nigeria are fighting for recognition and all-inclusiveness and I think North Central should not keep quiet. “North Central had not produced neither the president not the vice president. However, we should not over flog it so as not to divide Nigeria”. He said: “I’ve also said it that North Central should be carried along but I had never made a follow-up in the matter since I said that long time ago because I know it is dangerous. “I only said that then to

sensitise the people. The tendency of repeating the call is what is happening now with South-east, South-west, North Central, and all other sections coming up to say it’s their turn to get the president. “I think there’s need to re-echo the need for Nigeria to be one after the next general elections. Nigeria has never been this divided. Recognition of regional thing is getting too much”. Baraje, who cleared the air on statement credited to former vice president, Alhaji Atiku Abubakar, on zoning, the Tafida of Ilorin said that the PDP constitution

had been reviewed to allow for zoning. He, however, said that the former vice president was not actually talking about zoning in the political parties but the nation’s constitution. “Zoning arrangement was not there in the PDP constitution before, but had been included in the party’s constitution that zoning should be respected for the purpose of giving a sense of belonging to all members of the party and for all inclusiveness, except and only when a resolution of NEC decides otherwise.“

2023: A’Ibom Guber Aspirant Raises the Alarm over Killing of Supporters Okon Bassey in Uyo One of the frontline gubernatorial aspirants in Akwa Ibom State, Senator Bassey Akpan, has raised the alarm over attack and killing of his supporters ahead of the 2023 general elections in the state. Senator Akpan, currently the Chairman, Senate Committee on Petroleum Resources Upstream, said the recent of such wicked act was the murder of one his

strongest supporters, Chief Bassey Emah. The senator, in a statement yesterday, therefore called on the security agencies in the state to unravel the gruesome murder of Chief Emah and other political allies and supporters in the state. Describing the murder as “one killing too many”, Senator Akpan said the death of Emah popularly known as “Emma B” must not be glossed over nor

swept under the carpet. “Without leaning on any conspiracy theory, I hereby charge the security agencies to, as a matter of urgency; do all within their powers to unravel the circumstances surrounding the needless murder of Emma B. “The perpetrators of this heinous crime, no matter their status in the society, must be brought to account and soon too”, he stressed.

He acknowledged the unquantifiable contributions of the late Chief Emah to his gubernatorial ambition in Nsit Ubium where he held fort, regretting that his murder will deprive his young family of a sustainable means of livelihood. Senator Akpan noted that Chief Emah was the third of his supporters who had been mindlessly, needlessly and fatally attacked in recent times.

THURSDAY FEBRUARY 17, 2022 ˾ T H I S D AY

NEWSXTRA

House Probes Deplorable Condition of Correctional Service Despite N165bn Udora Orizu in Abuja The House of Representatives at the plenary, yesterday mandated its Committee on Reformatory Institutions to investigate the deteriorating conditions of staff and inmates of the Nigerian Correctional Service (NCS). The lawmakers observed that the deplorable state of the service doesn’t tally with the N165 billion budget allocated to the agency in the last two years. The House also observed that the Arms Squad of the Service still parades obsolete and substandard weapons, in spite of over N1 billion budget provision for Prison Biometrics, Arms and Ammunition in the 2020/2021 Capital budget, impeding its ability to detect, prevent or respond effectively to both internal and external threats. The resolution was sequel to the adoption of a motion of urgent public importance

moved by the Minority Leader, Hon. Ndudi Elumelu. Moving the motion, Elumelu lamented the deaths of correctional officers across the country, following attacks either on escort vehicles or custodial facilities. He said the enactment of the Nigeria Correctional Service Act 2019, situates the workforce of the Service as the single most important resource available to the correctional system and prioritised the welfare of the officers and men in line with international best practices to propel them to optimal performance. According to him, despite the Act and increase in budgetary allocations to the Nigerian Correctional Service to drive its renewed mandate, the tempo and quality of the Service have remained the same if not retrogressing. Elumelu said that the staff still buy or make their uniform

till date regardless of the huge budgetary allocations provided for this purpose, saying provision of uniform for inmates is nonexistence in most Custodial Centres. He said: “In addition to allegations of non-utilisation

of budget allocations in the manner prescribed by the National Assembly and administrative incompetence of drivers of change in the rebranded Service, there are also claims of unscrupulous staff promotion, denial of rights and

benefits including hazard and duty tour allowances levelled against the management of the Service. The demoralizing effects of these allegations, given increasing evidences of susceptibility of some officers and men compromising security of

custodial facilities, might worsen violations of these facilities and current security challenges in the country. The appalling state of custodial facilities and general welfare of inmates, post NCS Act, is worrisome and requires immediate attention.”

APC Convention: Aspirants Accuse Lukman of Working TO SEE YOU… for PDP to Undermine Party NICE President Muhammadu Buhari (left) and Governor of Kogi State, Alhaji Yahaya Bello, during the governor’s visit to the President in Adedayo Akinwale inAbuja The Forum of All Progressive Congress (APC) Aspirants for 2022 National Convention has called on President Muhammadu Buhari to investigate the former Director General of Progressive Governors’ Forum (PGF), Dr. Salihu Lukman for allegedly being funded by the Peoples Democratic Party (PDP) to undermine the party. Lukman had, in a letter to the President on Tuesday accused the Caretaker/Extraordinary Convention Planning Committee (CECPC) of planning to sabotage the scheduled February 26 convention of APC. However, in another letter signed by a leading aspirant

for the position of National Youth Leader, Mr. Maxwell Yakubu Gowon, on behalf of other aspirants and addressed to the President, said the Buni-led convention committee had not done anything to suggest that the aspirants would lose confidence in the process. The group said: “We would have urged Your Excellency, in your capacity as the leader of our great party, to order an investigation of the disgraced former Director General of the Progressive PGF, Salihu Lukman to find out the extent to which he is complicit in the allegation that he is being funded by the opposition PDP to undermine the APC.

Police Arrest Three Suspected Rail Track Vandals in Abia RebeccaEjifoma Operatives of the Railway Command of the Nigerian Police Force have arrested three suspects of a syndicate that specialises in vandalising railway tracks in different parts of the country. The suspects are: Kelechi Ononiwu, 36; Kalu Egbe, 30, and Stanley 27. They were said to have engaged the police in a gun duel a few days ago before their eventual arrest on the Ameka/Mbom rail line in Abia State. The police noted that it received a distress call from a concerned citizen

that over five armed vandals were destroying rail tracks, removing rail sleepers, and loading them into a black Toyota Hiace bus. On the order of the Commissioner of Police, Railway Command, Yetunde Longe, officers of the Umuahia Railway Divisional Headquarters were immediately deployed on the scene. On arriving at the scene, the police stated that the vandals opened fire on them, adding that: “Following strong resistance from the police team, two vandals were arrested and one other sustained bullet injury.”

UNIBEN Students Protest in Solidarity with Striking ASUU Adibe Emenyonu in Benin City

Hundreds of students of the University of Benin (UNIBEN), yesterday blocked the busy Benin–Lagos Highway in a solidarity march with the Academic Staff Union of Universities (ASUU), calling on the federal government to meet the demands of the lecturers and make learning more convenient for them. The President, Students Union Government (SUG), Foster Amadin, said the students would continue the protest in support of the lecturers.

Amadin said: “This is a warning protest to air our grievances and to let the government know that we are watching, and ASUU should know we are watching and if proper measures are not taken to check this strike, the effect will not be nice. We are ready to stay here except the federal government listens to our lecturers.” Corroborating Amadin’s views, the Speaker of the SUG, UNIBEN, Dignity Amenaghawon said: “The essence of the protest is because of the ASUU strike.

Abuja…recently

2023: I‘ll Accept Calls by Nigerians to Run for President, Says Kogi Gov Kogi State Governor, Yahaya Bello has said he would not turn down calls by many Nigerians asking him to run for seat of president in 2023, declaring the calls are patriotic offers that he would accept. The governor who made this known after his visit to President Muhammadu Buhari in Aso Rock, stressed that that president was a leader who would want a qualified

successor and informing him about his intentions should not be a matter of public discussions. According to him, he had always been an advocate for capacity, performance over ethnic or other demographic quality, noting that the country needed a leader with the ability to serve irrespective of region they belong Bello noted that peradventure

the North and South divide was a determinant of who becomes the nation’s next leader, then fairness and equity must be a watchword as the total addition of years of South’s leadership as compared to the North still puts him in a qualified position to run in 2023. He asserted that in answering the question of his credentials to jostle for the number one seat of the nation, people must

refer to what was in existence in Kogi state before he took over in 2016. The governor highlighted areas of security, unity and infrastructural development as some of his administration’s success, noting that journalists were at liberty to do their independent findings or go through the various web platform of the state to access these information.

Residents Groan as Fuel Scarcity Hits Ondo Fidelis David in Akure

Residents of Akure, Owo, Ore, Ikare and Okitipupa in Ondo state have continued to groan over scarcity of remium motor spirit (PMS), otherwise known as petrol. The federal government had confirmed that the presence of adulterated petrol, was discovered in the supply chain, which it decided to withdraw from the

market, leading to fuel scarcity but residents of Ondo State said they can no longer bear the hardship. This is also coming at a time when the controversy on the petrol subsidy removal or otherwise still rages on. THISDAY observed that long queues continued to build up at the various filling stations across the state while most filling stations in the state remained locked as some were hoarding

while some do not have petrol to dispense. THISDAY gathered that in Owo, some of the petrol dealers are now selling above the official pump price as motorists continue to groan over shortage of the product. In Akure, the state capital, the situation became worse yesterday as long queues were seen at filling stations along the popular Oba Adesida road,

Alagbaka, Ilesa Garage, Oba-Ile and Ilesha-Owo highway. A resident of Ondo town, Mr Jimoh Kazeem told THISDAY that filling stations are now selling between N180 - N190 per litre. Also, an oil marketer in Akure, who preferred anonymity, told THISDAY that many of the major oil marketers do not have petrol in stock because of the rejection of the adulterated petrol supplied to them few days ago.

Public Relations Consultants Move to Boost Businesses The Public Relations Consultants Association of Nigeria (PRCAN), the sectoral trade group authorised by the Nigerian Institute of Public Relations (NIPR), Bye-Law to regulate the business of public relations consulting in Nigeria, is set to announce far-reaching reforms that would help protect the businesses of clients and companies in the sector. This was contained in a

communique issued at the end of a two-day retreat organised for chief executive officers and leaders of PRCAN memberfirms, which took place from Friday, 11th to Sunday to 13th February in Lagos. Announcing the outcome of the well-attended retreat themed, “Building Resilience for Growth-Rethinking How You Do Business”, PRCAN President, Israel Jaiye Opayemi

stated that members of the association unanimously agreed and adopted the PRCAN Practice Standards 2022 for implementation during the retreat. Opayemi noted that the PRCAN Practice Standards 2022, expected to be launched within the next few weeks, would provide ground rules for improved public relations consulting practice and bring

better value to corporate and public sector clients who engage the services of public relations consulting firms in Nigeria. Part of the reforms, according to him, is the need for clients to engage the services of PRCAN certified consultancies given the opportunities and institutional protection they stand to gain should issues arise in the contractual engagement.

First Chronicle Roundtable Holds on Wednesday The First Chronicle Roundtable organised by 21st Century Media Services, publishers of 21st Century Chronicle, comes up on Wednesday, February 23, 2022 from 10am in Abuja. Theme of the roundtable is ‘Going for Broke: Fighting Insecurity in 2022’. According to a statement signed by the online newspaper’s Editorin-Chief, Malam Mahmud Jega, two papers each will be delivered

in the morning and afternoon sessions of the roundtable. At the morning session, to be chaired by former Borno State Governor Senator Kashim Shettima, Chief of Defence Staff General Leo Irabor will speak on Armed Forces and The War Against Insecurity in 2022 while Inspector General of Police Usman Alkali Baba will speak on Nigeria Police and the Fight Against Banditry and Kidnapping

in 2022. Dr. Mairo Mandara of Children’s Investment Fund Foundation will discuss the Chief of Defence Staff’s paper while Prof Jideofor Adibe of Nasarawa State University, Keffi, will discuss IGP Usman Baba’s paper. The statement said the afternoon session from 2pm, will be chaired by Mr. Femi Adesina, Special Adviser to the President on Media and Publicity. Prof Jibrin

Ibrahim of Centre for Democracy and Development [CDD], Abuja will speak on ‘Reducing Tension as Election Year Approaches’.

THURSDAY, ͹Ϳ˜ ͺ͸ͺͺ ˾ T H I S D AY

THURSDAYSPORTS

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

0811 181 3083 SMS ONLY

Osimhen Set to Light Up Camp Nou as Barca Face Napoli Tonight

Femi Solaja with agency report Super Eagles’ striker, Victor Osimhen, will hug the global limelight tonight as he leads Napoli FC into the famous Camp Nou ground of FC Barcelona in the first leg second tier Europa League Knockout Round playoffs. But that momentum will be put to the test when Osimhen’s Napoli touch down on Camp Nou for this tasty clash. After a mid-season slump, Luciano Spalletti’s men have rediscovered their groove and are back playing some good football. The results have followed suit, with Partenopei unbeaten over 90 minutes in seven games. They also boast a decent attack that has scored in nine successive matches on the road, powering the Italian side to three wins of the last five. Osimhen, though, remains Napoli’s most potent attacker. The Super Eagles striker is the only

player to have hit double digits for the club this season, with four of his ten goals coming in the Europa League. The Catalans crashed out of the Champions League in the group stage with just two goals scored in six matches, the arrival of Xavi Hernandez not enough to revive their fortunes in a competition they have won five times. A meeting with a Napoli side currently fighting for the Serie A title would be worthy of the continent's elite club competition, and indeed the sides met in the last 16 of the Champions League just two years ago. Yet Barca instead face a real challenge in this play-off tie just to make it through to the last 16 as they try to salvage some pride in Europe and go all the way to the final in Seville in May. "It is not a favourable draw. They are one of the toughest sides we could have faced, a Champions League-level team," Xavi said when the draw was made.

E U R O PA L E AG U E KO P L AYO F F S The Catalans, who lie fourth in LaLiga a huge 15 points behind leaders Real Madrid, had appeared

in the knockout rounds of the Champions League in each of the last 17 seasons, last missing

out in 2003-04 when they played in the UEFA Cup. Barcelona was not the only highprofile name to be knocked out of the Champions League prematurely, with Borussia Dortmund also dropping down into the Europa

Europa Knockout Playoffs Barcelona Dortmund FC Sherrif Zenit Atalanta Porto RB Leipzig Sevilla

Musa, Ekong, Others Assure Nigerians of World Cup Ticket against Ghana Super Eagles Captain, Ahmed Musa, has assured football fans that Nigeria will qualify to play in the 22nd FIFA World Cup finals, holding in Qatar between 14th November and 18th December this year. The Fatih Karagumruk forward in the Turkish topflight who spoke on behalf of his teammates after a virtual meeting with Sports Minister, Sunday Dare and chieftains of the Nigeria Football Federation on Tuesday night, said: “The FIFA World Cup is the biggest football tournament in the world, and every player wants to feature there. “A good number of the players in the team now have not been there, and the few of us that have been there want to experience it again. “We just want the NFF to help us get enough fans into the Abuja Stadium for the second leg. We will go to Ghana and dig our feet and ensure we get a result. “We must admit that Ghana also want to qualify and they have a strong team. The return leg will be crucial and we are ready for the battle, but we want our fans to be in there cheering us on,”

Midtjylland Fenerbahce Eindhoven R’Wien Celtic Leicester Marseille Sp’ Prague

agree on the need to institutionalise it so that it can live after us. That's the level of commitment the Edo State government is showing,” he said and revealed other benefits of the race to the people and government of Edo State. ''The race has helped the state government to showcase the giant strides it has made and it is making

v PAOK v Sl Prague v M’ Tel Aviv v Vitesse v Bodoe/Glimt v Randers v Qarabag v P’ Belgrade

UCL RESULTS Victor Osimhen...primed to set Barcelona’s Camp Nou agog tonight with his sublime skill in PHOTO: Getty Images the Europa League knockout playoﬀs

Inter Milan 0-2 Liverpool Salzburg 1-1 B’Munich

...Ndidi Primed for His 200th Game for Leicester Tonight Nigerian international midfield enforcer, Wilfred Ndidi, is set to play his 200th game for Leicester City in the Europa Conference League against Randers FC tonight. Leicester boss Brendan Rodgers admitted yesterday that it will cost more than £50million for any of the many big teams aiming to sign the Nigerian to lure him out of the club. Aston Villa Manager, Steven Gerard is

Okpekpe Road Race Has Come to Stay, Says Edo Dep Gov Edo State Deputy Governor, Comrade Philip Shaibu has said that the world acclaimed and historic Okpekpe International 10km Road Race is returning bigger and better this year. Shaibu also reiterated the commitment of the state government towards making the race retain its historic and number one status in Nigeria nay West Africa. “The Okpekpe international 10km road race is back this year with the eighth edition and it has come to stay,” said Comrade Shaibu at the press conference Wednesday in Benin heralding this year's race. The deputy governor dismissed insinuations that he is against the organization of the race. “The race is a constant fixture in the calendar of the state just as it is in the calendar of World Athletics. Nobody, not even I, Comrade Philip Shaibu can kill the race," he added and revealed plans are in top gear to institutionalise the race. “We have had a meeting with Pamodzi Sports Marketing, the main organiser of the race and we

v Napoli v Rangers v Braga v Real Betis v Olympiacos v Lazio v Sociedad v Di Zagreb

*Europa Conference Knockout Playoffs

QATA R 2 0 2 2 pleaded Musa in the meeting with minister and the NFF chiefs. Deputy Captain, William TroostEkong added that the players are aware of the big task ahead and only wants the government to ensure that the pitch of the MKO Abiola National Stadium, Abuja is in ‘pristine condition’ for the return leg encounter against the Black Stars. “We loved the pitch of the stadium in Garoua and it helped us play some good football. We would be delighted if the Abuja Stadium is in similar condition for the second leg,” observed the Watford defender. Technical Adviser of the team, Augustine Eguavoen, who along with the Chief Coach Emmanuel Amuneke were part of the delegation to meet with some of the London-based players said: “It is always an honour to serve the country. I was impressed with the high level of discipline and commitment of the players at the AFCON in Cameroon, and I feel privileged to lead the group.

League. The Germans will face Scottish champions Rangers with Nigeria’s duo of Joe Aribo and Leon Balogun expected to be in action in this first leg at the Signal Iduna Park as the home side wait to see if Erling Haaland will play. The Norwegian, scorer of 23 goals in 21 games in all competitions this season, has missed Dortmund's last two outings against Bayer Leverkusen and Union Berlin in the Bundesliga.

in the infrastructural development of the state, both rural and urban. “It has also elevated the status of Okpekpe to a town because it is already on the map of the world as a destination of sort for sports.''. Comrade Shaibu insists the race will continue to score first as far as road running is concerned in Nigeria.

believed to have made Ndidi his summer transfer target and has been assured of the £50million by the club’s management. But despite several leading Premier League clubs including Manchester United eyeing the ace midfielder, Ndidi insists he is settled at Leicester. And he certainly wouldn’t be available cheaply after Rodgers responded to claims the ace might cost £50million by replying: “He’s worth much more than that.” Holding midfielder Ndidi is under contract at Leicester until 2024 after joining in January 2017 from Genk. According to UK’s Mirror, Ndidi who recently moved into a new house locally, has started a young family and is also considering re-joining De

Wilfred Ndidi addressing the press yesterday ahead of his 200th Leicester City appearance against Randers FC...tonight Montfort University in Leicester to complete a business and management degree, which he put on hold in lockdown. “My business degree was

on hold as at the time it was during lockdown and then my daughter came. “It is on hold but I am looking forward to it maybe next year,” stressed the Super Eagles midfielder yesterday. Ndidi has built up a good rapport in midfield alongside classy Belgian international Youri Tielemans at Leicester. Ndidi added: “I am enjoying every moment. Youri is a great player and a player I love playing with in the middle. “With his technique we both compliment each other. I am really happy because he is really doing well. “For the time I am just enjoying the moment as much as possible. We are working with each other to protect the team. “It has been really good.”

NJF READS RIOT ACT TO JUDOKAS

“Travel for Competition Without Clearance, Get Sanctioned”

R-L: Promoter of Okpekpe 10km International Road Race and Chairman Pamodzi Group, Chief Mike Itemuagbor; Deputy Governor of Edo State, Comrade Phillip Shaibu; and Director of Organisation of the race, Zak Amodu at the press brieﬁng on the 2022 Okpekpe race in PHOTO: ShengoPix Benin City... yesterday

Henceforth, any judoka who did not get the clearance of the Nigeria Judo Federation, NJF before travelling out to attend competitions would be sanctioned. President of the federation, Dr.Musa Oshodi handed out the warning on Tuesday in Lagos while addressing the media to herald the trials for the Birmingham Commonwealth Games. He was responding to a question by a journalist who wanted to know why the federation won't allow judokas travel out for competitions once they had their funds. Dr. Oshodi said it would be chaotic and a complete abuse of established process to allow athletes

travel out without clearance. "It's never done to allow an athlete who will be representing the country travel without clearance from the federation, he noted. "Even if the athletes will sponsor themselves, they must get the federation's clearance," insisted the NJF Boss. He said the clearance will not only be in the interest of the country but also in the interest of the athlete. "When the athletes travel out, the clearance covers them as bona fide Nigerians on a legitimate mission of representing their country. "With the clearance, if anything happens, the federation can activate diplomatic processes to assist them.

"As for the country, a clearance protects her image because it will make it impossible for criminal elements to take advantage of an international championship to carry out their nefarious operations." Dr. Oshodi while making reference to some judokas who travelled to Ghana recently without clearance warned that the behaviour won't be tolerated any longer. " Those who went to Ghana could be forgiven because for a long time the NJF was a pathetic organisation. "But with the new board, the narrative has changed and henceforth any judoka that travels without clearance by the federation would be sanctioned".

Thursday, February 17, 2022

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San Luga to Federal Government “There is no single day in the last two and half years that somebody will not be killed or abducted in Katsina State. It is really a state of war. It is more than conﬂict”—Wazirin Katsina, Prof San Lugga saying that relentless attacks by bandits have led to the closure of all schools in eight councils in the State

OLUSEGUNADENIYI THE VERDICT

olusegun.adeniyi@thisdaylive.com

DCP Abba Kyari and the Rot Within “H

ave you ever heard how they catch monkeys in Brazil, Julie? Let me tell you. They put a nut in a bottle and tie the bottle to a tree. The monkey grasps the nut, but the neck of the bottle is too narrow for the monkey to withdraw its paw and the nut. You would think the monkey would let go of the nut and escape, wouldn’t you? But it never does. It is so greedy it never releases the nut and is always captured. Remember that story, Julie. Greed is a dangerous thing. If you give way to it, sooner or later you will be caught.” Readers of this page are aware that I am a huge fan of the late British novelist Rene Brabazon Raymond, best known by his pseudonym James Hadley Chase. The foregoing was lifted from one of his novels, ‘The Paw in the Bottle’. The central character, eight-year-old Julie Holland, refused to heed the warning of the lenient judge in a story that ended tragically. To borrow from another Chase cliché, that is usually the way the cookie crumbles, especially for those who elevate greed above cherished principles. Anybody who has read the National Law Drug Enforcement Agency (NDLEA) and Police statements regarding the suspended Deputy Commissioner of Police (DCP) Abba Kyari must come to certain conclusions. The way a supposedly ‘Super Cop’ walked into an elementary entrapment is indeed very telling. One would imagine that someone who was already a subject of investigation and indictment by the Federal Bureau of Investigation (FBI) would be circumspect in his dealings. But greed has not only upended Kyari’s career, it has also exposed the rot within the security/ law enforcement institutions in Nigeria. Let’s be clear. In other societies, Abba Kyari would have long been released from the Force to pursue vocations where his talents were more suited: Tailoring, muscleman, showbiz etc. He was certainly not suited for law enforcement. While heading the notorious Special Anti-Robbery Squad (SARS), Kyari built a reputation for both corruption and gross human rights violations. But a well-oiled media machine and high connections within the police hierarchy and political establishment made Kyari untouchable, despite numerous allegations of impropriety against him. In 2019, both the National Human Rights Commission (a federal government agency) and Amnesty International accused Kyari and the Intelligence Response Team (IRT) he then led of illegal expropriation of proceeds of crime to the tune of hundreds of millions of Naira. The allegations were casually dismissed by the police. Such was Abba Kyari’s seeming invincibility that he could even wave off damning details from the FBI about how he was allegedly recruited and paid by an internet fraudster to deal with an opponent. In fact, his response at the time was to post a screenshot from someone else’s social

Adieu Magajin Garin It was less than three weeks ago (on 30th January to be precise) when I held him from the back, hiding behind his huge frame to see whether he would recognise me. When he began struggling to free himself, I said, “why don’t you just guess who I am?” He laughed and said, “Segun, you have just given yourself away.” It was therefore with shock that I learnt last Saturday that Hassan Dambaba, the Magajin Garin of Sokoto had passed away. Hassan was a jolly good fellow. May God comfort his family and grant him eternal rest.

DCP Abba Kyari media platform which quoted a lady as saying, ‘Abba Kyari arrested me, didn’t charge me to court but kept me to himself’. And below it, he inserted this message: ‘Hahahahaha. This is the funniest One so far, we are enjoying the Show.’ It is safe to conclude that this tragic saga may finally be coming to a grand denouement. But the fact that an officer publicly displayed as a model to his peers (having received accolades from the House of Representatives among others)

is no more than a ‘super crook’ raises questions about our country. Even before this drug scandal, the import of the ‘419’ charge for which Kyari is wanted in the United States can be drawn from the damning Department of Justice (DoJ) statement in June 2020. It read, “Foreign citizens perpetrate many BEC (Business Email Compromise) scams. Those individuals are often members of transnational criminal organizations, which originated in Nigeria but have spread throughout the world.” To now add the fact that our most decorated police officer may also be a scammer and drug dealer can only compound our image problem. While the link between law enforcement and criminal kingpins has always been hazy in Nigeria, this saga may have connected the dots. Police authorities who allowed a suspended officer to remain ‘on active duty’ are fighting back in a manner that exposes the dirty linen of law enforcement in Nigeria. The import of the Police statement is that if Kyari had not moved against the two drug smugglers reportedly cleared by NDLEA officials, we probably would never have heard these sordid tales. And for effect, the Police added that their “investigation also established that the international narcotics cartel involved in this case have strong ties with some officers of the NDLEA who are on their pay roll.” What the exchange between the Police and NDLEA suggests is that we have unwittingly created a situation in which many of our law enforcement personnel are no better than mercenaries for hire. Nothing better exemplifies this situation than what happened in Osogbo, the Osun State capital, on Tuesday. Although media focus is on the shocking outburst from the Interior Minister, Ogbeni Rauf Aregbesola against his erstwhile political godfather, the real scandal is the role of the Nigeria Security and Civil Defence Corps (NSCDC) and Police in the breakdown of law and order during the minister’s visit. Personnel of these two federal institutions expected to keep public peace have

obviously taken sides with politicians, given the statements released by their spokesmen. It is this sort of privatization (and politicisation) of security and the corruption it breeds that has foisted on us the DCP Abba Kyaris of this world. It has also engendered a situation in which Nigeria finds itself in the vice grip of criminal warlords. While the Abba Kyari drama is still on, the Economic and Financial Crimes Commission (EFCC) reportedly secured from court the final forfeiture of proceeds of corruption from a military officer. “The 24 property scattered across Kano, Kaduna, Borno and Cross River States, comprise land, shopping complex, gas station and fuel stations cumulatively valued at N10,935,000,000,” according to the EFCC. Yet this military officer with such ill-gotten wealth running into millions of dollars has no name! This is, of course, a story for another day. Meanwhile, such is the level of cynicism in the country that social media is replete with stories that the entire NDLEA expose is contrived to give Abba Kyari a ‘free pass’ so as not to be extradited to the United States. That people believe such a ridiculous proposition depicts a level of distrust harmful to any society. Abba Kyari was originally declared wanted in the United States for internet fraud, and I am sure the Americans will be even more desperate to get him. As someone who once headed the police anti-robbery and anti-kidnapping units, he must know a lot about such crimes. And given his alleged involvement in internet scams and now drug dealing, that makes him a human asset American Intelligence would love to get hold of, to mine information. I hope President Muhammadu Buhari will see that this matter is beyond the career of one man. He must take special interest in how the investigations proceed as well as the request by the United States. The tragic Abba Kyari saga is at the root of law and order in Nigeria and has international ramifications.

Atiku and the Zoning Cross

gainst the backdrop of the clamour in certain quarters that the next president should come from the southern part of the country, the disputation on (presidential) zoning by former Vice President Atiku Abubakar has continued to generate controversy. Speaking at a meeting with supporters recently in Abuja, Atiku (who is seeking the ticket of the opposition Peoples Democratic Party) said: “Fundamentally, the Constitution says all of us can run. The Constitution has not barred any one of us. There is no zoning in the Constitution; there is none.” On the face value, it is difficult to fault Atiku because there is indeed nothing in the law or for that matter convention that precludes anybody from seeking the presidency of Nigeria. The crux of the matter is whether Atiku is speaking in good faith. On 21st November 2010, the Northern Political Leaders Forum (NPLF) led by the late Mallam Adamu Ciroma settled for Atiku as the consensus candidate from the region to fly the flag of the then ruling PDP. The committee met with all Northern contenders, including General Ibrahim Babangida and Dr Bukola Saraki. Their mandate was to prune the list to one. Once Atiku was endorsed, the others were asked to withdraw, and they obeyed. The argument at the time was that the death of President Umaru Musa Yar’Adua had left a vacuum that only a northerner could fill.

Atiku Abubakar In accepting the ‘northern mandate’ and leading a campaign for then incumbent President Jonathan to shelve his bid to contest, Atiku said: “The unity of this country, equity and justice require that existing agreements freely entered into by individuals and groups be respected…We are a diverse people who recognized early in our history that national unity, fairness and equity require that we share positions

of power among our diverse peoples. That is what we call zoning/rotation of public offices.” I admire Atiku’s sagacity as a politician who is at home across the country, and I subscribe to the view that nothing stops him from seeking the presidency. I also believe that the times we are in demand that we seek the best possible hands to run our affairs regardless of where they come from or what faith they profess. But Atiku seems to suffer from a crisis of message every time he runs for presidency. Ordinarily, there is nothing wrong with zoning even when I am also aware that the current clamour by most southern politicians is hypocritical and dishonest. If they mean what they are saying, the clamour should be zone-specific: The presidency should go to the Southeast, just as the military did for the Southwest, albeit with a sleight of hand, in 1999. Overall, I agree with Atiku that in 2023 we need a president who can untangle the multitude of problems we face in the country. I also agree that attempting to stop Atiku on grounds of ethnicity, sectionalism or religion is not only illegal but antithetical to the equity we seek to promote. But Atiku should also understand that when politicians pick and choose where they stand on issues based on expediency rather than principle, they inevitably run into trouble. It is the self-serving card Atiku dealt President Jonathan 12 years ago that has now come back to haunt him.

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