WEDNESDAY 24TH FEBRUARY 2021

Zenith Bank Shows Resilience as Profit Hits N231bn Declares N2.70 final dividend Goddy Egene Zenith Bank Plc yesterday released its audited results for the year ended December 31, 2020, showing earnings growth despite the challenging

operating environment.

The bank's net interest stood at N299.682 billion, up from N267.031 billion in 2019, while net fee and commission income was N79.332 billion as against N100.106 billion

in 2019. Impairment charges rose from N24.032 billion to N39.534 billion.

Profit before tax (PBT) grew by 5.2 per cent from N243.294 billion to N255.861 billion, just as profit after tax (PAT) rose

by 10.4 per cent to N230.565 billion from N208.843 billion in 2019.

The board has proposed a final dividend of N2.70 per share, to bring the total dividend to N3.00 having paid

an interim dividend before.

Loans and advances improved from N2.306 trillion to N2.779 trillion, while customers’ deposits rose from N4.262 trillion to N5.339 trillion. Total assets

rose from N6.347 trillion to N8.481 trillion in 2020.

Commenting on the results, analysts at Cordros Securities said Zenith Bank’s performance Continued on page 10

Restricting Cryptocurrency Trading in Nigerians’ Best Interest, Says Emefiele... Page 8 Wednesday 24 February, 2021 Vol 26. No 9453. Price: N250

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ACF, CAN Berate Gumi over Divisive Comments on Banditry... Page 5

We Saw Hell in Kidnappers’ Den, Freed Victims Narrate Ordeal

Govs vow to resist disintegration 13 killed, 40 others injured in rocket attack on Maiduguri Scores of terrorists killed as military clears Borno communities Kingsley Nwezeh, Michael Olugbode, Emmanuel Addeh in Abuja and Laleye Dipo in Minna Some of the freed 53 passengers kidnapped by terrorists while travelling in a Niger State governmentowned NSTA bus in Niger

State have continued to narrate their experiences in the kidnappers’ den.

The passengers recently regained their freedom following the intervention of the state government.

Narrating his experience Continued on page 9

At $66, Soaring Oil Price Reinforces Imminent Hike in Petrol Cost

House investigates alleged breach of local content in $2.6bn AKK project Emmanuel Addeh and Adedayo Akinwale in Abuja The increase in the pump price of petrol has become imminent as Brent crude oil, against which Nigeria’s oil is benchmarked, was up $1.10, or 1.7 per cent, closing at $66.34 a barrel yesterday.

It had earlier hit a high of $66.79 mainly prompted by optimism over the COVID-19

vaccine rollouts and lower output.

The gains by the commodity, whose sales supply a large percentage of Nigeria’s foreign exchange has continued even as the country awaits the outcome of the meeting between President Muhammadu Buhari and state governors over the pricing of Continued on page 10

COLLABORATING ON ACCESS TO PORTS...

Managing Director, Nigerian Ports Authority, Ms. Hadiza Bala-Usman (left), and Lagos State Governor, Mr. Babajide Sanwo-Olu, after a meeting on the new call-up system for access to Apapa ports in Lagos...yesterday

Court Nullifies SEC’s Suspension of Oando’s AGM...Page 5

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NEWS ACF, CAN Berate Gumi over Divisive Comments on Banditry

Group News Editor Ejiofor Alike

Email Ejiofor.Alike@thisdaylive.com, 08066066268

Onyebuchi Ezigbo in Abuja and John Shiklam in Kaduna The Arewa Consultative Forum (ACF), Southern Kaduna Peoples Union (SOKAPU) and the Christian Association of Nigeria (CAN), yesterday lashed out at an Islamic cleric, Sheikh Ahmad Gumi, over inciting comments on the fight against banditry, depicting Christian soldiers as the ones killing bandits.

“In the military, there are Christians and Muslims; the Christians in the military are the ones killing you (bandits) to cause problems,” Gumi was heard saying in a video of his address to bandits in one of the camps he visited.

He had also, on a live TV programme, said bandits were not interested in killing people and that the “few” they killed were “accidental.”

“And you call them killer herdsmen; how many people do they kill?

“When they kill, it is mostly accidental, may be somebody they took who is sick. But tell me who they have killed? How many? Few,” Gumi said during the interview.

In their separate reactions, ACF, SOKAPU and CAN described Gumi’s utterances as divisive and inciting.

Spokesman of the ACF, Mr. Emmanuel Yawe, called on the cleric to watch his utterances else he may gain the confidence of the bandits and lose the confidence of the people.

Yawe said: “I don't think he is right by saying the bandits killed few people and accidentally.

“Where did he take the count to know that bandits kill only a few people? Gumi started a wonderful and laudable programme of dialogue with the bandits.

“If he does not watch his words, he may gain the confidence of the bandits but lose that of the general public that has been unjustifiably terrorised by the bandits.

“For Gumi to succeed in his self-appointed task, he needs the confidence of the two - bandits

and society.”

Also commenting on the utterances of the Islamic cleric in the video, the ACF spokesman said the easiest way to destroy a country was to take a fight from civilians into the military.

He stated that a fight between Christians and Muslims in the army would destroy the army and the country.

“Even if Christian and Muslims civilians are killing each other, we should not introduce the fight to men who are legally armed to fight,” he said.

He called on the people who could influence Gumi to advise him to desist from making inciting comments so as not to set the country ablaze.

CAN also described the statement by Gumi that bandits were being attacked by Christian soldiers as a bad omen.

The association labelled the comment as reprehensible and capable of causing disunity in the country.

Special Assistant to CAN President, Pastor Adebayo Oladeji, wondered if such comments by Gumi will not polarise the military along religious divides.

"If anyone said it was the Christian soldiers who are attacking bandits, that is a bad omen. We still want to believe that Sheik Gumi was quoted out of context.

"But if it is true, then, the unity and peace of the country are being threatened. Such a grave allegation is ungodly, divisive, unpatriotic, ill-wind and reprehensible," he said.

CAN said bandits were being pampered with money being made available to them because highly respected politicians and religious leaders are speaking for them.

He added: "Is Sheik Gumi trying to polarise the military along the religious divides? Is he inciting the bandits against Christians? Is Gumi saying that the Muslim soldiers are on vacation in the ongoing war against terrorists, murderous herdsmen and bandits?

"If what Gumi reportedly said was attributed to a Christian

leader, the security operatives would have invited him or declared him wanted. Do we truly have sacred cows in the polity now? Was that the reason why the lopsided appointments of the security chiefs were in favour of one religion at the expense of Christianity?"

Also, the Kaduna State Chairman of CAN, Rev. Joseph Hayab, said the divisive utterances of Gumi had raised doubt about the sincerity of his preaching and mediation.

Hayab noted that the statement of Gumi that Christian soldiers are the ones killing bandits is inciting and divisive.

Hayap stated that the military should not be presented as a Christian-versus-Muslim institution.

He called on patriotic Nigerians to condemn this and not allow anyone to promote such division in the military.

“The video in circulation came to us as a shock because when

some of us were celebrating Gumi's intervention with the bandits then this video came out.

“Though the sheikh has tried to explain or prove that the message was as a result of a report he got from an army personnel who came to report to him what was happening some years back, but a careful listening to the words Sheikh Gumi used in that the video has further increased our fears and suspicion,” he said.

Hayab added that the man who complained to Gumi might have given him a one- sided report, saying that “since he said he will report to a higher authority, Gumi needs to tell Nigerians if his statement to the bandits was a confirmation he has gotten from the military authorities that Christian military men are killing Fulani and Muslim.

“Another issue of concern is the haste at which he is calling for amnesty for the bandits and

comparing them with other militants.

“My fear is that we will not have a situation where a bandit who kidnapped and raped our wives and sisters will tell his father to play the role of a good Samaritan by bringing her back to us acting like someone who truly cares.”

The spokesman of the Southern Kaduna Peoples Union (SOKAPU), Mr. Luka Binniyat, said Gumi's utterances should be of concern to Nigerians.

“Gumi is on a strange and bizarre project; he is saying what is absolutely a contradiction to reality,” he stated.

According to him, in Kaduna State, especially in Southern Kaduna and Birnin Gwari Local Government Area, there are mass graves doting the landscape as a result of banditry.

“Their propensity for violence and bloodletting is daily documented and made public through a press statement by

Kaduna State Commissioner of Internal Security, Mr. Samuel Aruwan,” he said.

He added that in two months, no fewer than 50 persons had been killed by armed herdsmen.

He said the bandits had sacked over 100 communities in Southern Kaduna and are occupying most of them.

“To us in SOKAPU, the actions of Gumi should be of great concern to this country because he lives in Kaduna State and is very aware of the murderous nature of the people he has chosen to suddenly become their spokesman and negotiator-in-chief,” he said.

He added that from the video, which has stirred anger and resentment among SOKAPU members, what Gumi was doing was to brainwash the armed criminals to select only Christians as their targets.

“He is pitching the Muslim military against their Christian counterparts,” he said.

FOR REFORM OF THE GAMBIA...

Former President Goodluck Jonathan (left) and Minister for Tourism, The Gambia, Mr. Hamat Bah, during a dinner hosted by the Goodluck Jonathan Foundation in honour of delegates from parties for constitution reforms in The Gambia in Abuja...recently godwin omoigui

Court Nullifies SEC’s Suspension of Oando’s AGM Obinna Chima A high court at the Federal Capital Territory yesterday nullified Security and Exchange Commission’s (SEC) indefinite suspension of Oando Plc’s Annual General Meeting (AGM), two years ago, ruling that shareholders of the company have the rights of association as well as to assemble and hold an AGM. The judgment followed a suit filed by Mr. Patrick Ajudua, an Oando shareholder, who challenged SEC’s suspension order.

The disgruntled shareholder had filed that the directive of the SEC suspending Oando's AGM was in breach of his rights to freedom of association as guaranteed under Section 40 of the Nigerian Constitution and Articles 9, 10 & 11 of the African Charter on Human and Peoples Rights.

A statement by the company stated that Ajudua has since

been hailed as a saviour of Oando’s shareholders following his big win.

In a hearing presided by Justice O. A Musa, all pleadings filed were granted in favour of Ajudua.

Justice Musa ordered: “[Mr.] Patrick as a member and shareholder of Oando has a right and freedom of association and assembly with other shareholders and right to receive information at the AGM; [and I] declared the May 31, 2019 letter of SEC to Oando sanctioning its management, as unconstitutional, null and void, and violation of Engr.

Patrick’s fundamental right to fair hearing and his human right to receive information on the affairs of Oando and his interest and shares in Oando.”

In addition, the judge declared an order, “setting aside the directive of SEC suspending/postponing indefinitely the AGM of Oando in violation, breach

and contravention of Patrick’s right and freedom of association and assembly with other shareholders and right to information from other shareholders and Oando Plc, an order restraining SEC and Oando from interfering with, disrupting and or interfering with the Engr.

Patrick’s constitutional right of association, assembly and right to receive information from other shareholders and members of Oando Plc at the postponed 2019 AGM.” Furthermore, the judge ruled that, “an order of injunction restraining SEC from acting and /or taking any steps pursuant to its letter of 31st May 2019 or interfering in any manner whatsoever with Directors lawfully appointed by the Engr. Patrick and shareholder; and an order directing Oando to convene and hold AGM of Oando plc within 90 days of the order of the Court in compliance with the provisions

of CAMA.” AGM’s are an important platform for the protection of the shareholders of a company. They are also a legal requirement for all publicly listed companies the world over. Usually the main agendas for an AGM include a review of a company’s affairs and financial statements, shareholder engagement with Directors of the company to review performance, the appointment of auditors, to name a few.

By being listed on the Nigerian Stock Exchange (NSE) a company is by virtue owned by her shareholders, thus ultimate control and the destiny of a company should lie in the hands of said shareholders. Section 81 of the Companies & Allied Matters Act ascribes to every member of an incorporated company, who has fully paid for his or her shares, a right to attend all the shareholders’ meetings of such a company; and to speak

and vote at such shareholders’ meetings.

According to Ajudua, SEC denied him these rights over the last two years.

Commenting on the outcome of the suit, Ajudua said: “A win for me is a win for all shareholders. The lingering delay in resolution of the conflict have brought untold hardship, financial difficulty & loss of capital appreciation on our investment.

“Therefore, the shareholders received this judgment with high sense of humility & praying that all hands must be on deck to move the company forward. We plead with the regulators & others to give peace a chance & allow for harmonious resolution of the conflict. The shareholder community will continue to protect their investment, ensure high compliance with code of corporate governance & ensure integrity of company operating in the capital market.”

Since the suspension of Oando’s 2019 AGM shareholders have been kept in the dark on the company’s affairs – specifically corporate initiatives and financials.

According to a July 2020 statement issued by Oando, the suspension of the AGM had also resulted in the inability of the company’s Directors to lay before the shareholders for approval, the Company’s 2018 Audited Financial Statements; inability to appoint auditors to hold office for the 2019 financial year; and the inability of the Company to meet its FYE 2019 NSE Filing of Accounts obligation due date of March 31, 2020; amongst others.

The 2019 suspension of Oando’s AGM by SEC was not the first time as the regulator had in 2018, taken same actions but the oil and gas company had fought back and the suspension was dropped, and the AGM held then without a glitch.

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Restricting Cryptocurrency Trading in Nigerians’ Best Interest, Says Emefiele ICPC, NFIU back apex bank Deji Elumoye and Udora Orizu in Abuja The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has said that the CBN acted in the nation's best interest by ordering banks, non-banking and other financial institutions not to facilitate trading and dealings in cryptocurrencies.

Emefiele, while briefing a joint Senate Committee on Banking, Insurance and Other Financial Institutions, ICT and Cybercrimes, and Capital Market, on its directive banning cryptocurrency trading, described the operations of cryptocurrencies as dangerous and opaque.

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Nigerian Financial Intelligent Unit (NFIU), which also addressed the joint committee, said cryptocurrency was being used as a channel for funding violence and terrorism in Nigeria.

Emefiele said the use of cryptocurrency contravened the law, adding that the fact that cryptocurrencies are issued by unregulated and unlicensed entities, made it contrary to the mandate of the CBN, as enshrined in the CBN Act (2007)

that empowers it as the issuer of legal tender in Nigeria.

Emefiele, who also differentiated between digital currencies, which apex banks can issue, and cryptocurrencies issued by unknown and unregulated entities, stated that the anonymity, obscurity, and concealment of cryptocurrencies made them suitable for those who indulge in illegal activities such as money laundering, terrorism financing, purchase of small arms and light weapons and tax evasion.

Citing instances of investigated criminal activities that had been linked to cryptocurrencies, he stated that the legitimacy of money and the safety of Nigeria’s financial system were central to the mandate of the CBN. “Cryptocurrency is not legitimate money because it is not created or backed by any central bank.

“Cryptocurrency has no place in our monetary system at this time and cryptocurrency transactions should not be carried out through the Nigerian banking system,” he said.

Emefiele faulted arguments that the CBN’s actions were inimical to the development of FinTech or a technology-driven payment system.

On the contrary, he noted that the Nigerian payment system, boosted by reforms driven by the CBN has evolved over the past decade, surpassing those of many of its counterparts in emerging frontier and advanced economies.

While urging that the issue of cryptocurrency be treated with caution, the CBN governor assured the committee that the bank would continue its surveillance and deeper understanding of the digital space.

He stated that the ultimate goal of the CBN was to do all within its regulatory powers to educate Nigerians on emerging financial risks and protect the financial system

from the activities of currency speculators, money launderers, and international fraudsters.

In his presentation, the Director-General of the Securities and Exchange Commission (SEC), Mr. Lamido Yuguda, said there was no policy contradiction between the CBN directive and the pronouncements by the SEC on cryptocurrencies dealings in Nigeria.

He said the SEC made its pronouncement at the time to provide regulatory certainty within the digital asset space due to the growing volume of reported flaws.

Prior to the CBN directive, he said the SEC, in 2017, had cautioned the public on the

risks involved in investing in digital and cryptocurrency.

He added that the CBN, Nigeria Deposit Insurance Corporation (NDIC) and the SEC between 2018 and 2020 had also warned on the lack of protection in investments in cryptocurrency.

Yuguda said following the CBN directive, the SEC had suspended the admittance of all persons affected by CBN circular into its proposed regulatory incubatory framework in order to ensure that only operators in full compliance with extant laws and regulations were admitted into the framework for regulating digital assets.

Similarly, the Chairman

of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Prof. Bolaji Owasanoye (SAN), highlighted the risks inherent in investing in virtual assets and cryptocurrencies in Nigeria.

He explained that cryptocurrencies posed serious legal and law enforcement risks for Nigeria due to its opaque nature and illicit financial flows.

He added that the current move by the federal government to link National Identification Numbers with SIM cards attested to the fact that terrorists, kidnappers, bandits and perpetrators in illegal acts had relied on the shield provided by anonymity to commit crimes.

FG Set to Roll out Digital Switch Over in 31 States

Iyobosa Uwugiaren in Abuja

With N9.4 billion paid to stakeholders, including service providers, approval by the Federal Executive Council (FEC), and with 31 states to cover, the Minister of Information and Culture, Alhaji Lai Mohammed, has said the federal government has no more excuses for not rapidly rolling out the Digital Switch Over (DSO).

The minister, at the inauguration of the ministerial task force saddled with the responsibility of driving the DSO project, said the process could create over one million jobs in the next three years.

He stated that as part of the federal government’s efforts to maximise the opportunities inherent in the process, it reviewed the Broadcast Code to protect local jobs and production.

He added that the federal government has also started the process of introducing worldclass Audience Measurement and Media Monitoring to deliver on the potential one-billion-dollar TV and online advertising revenue market and ensure that the DSO ecosystem delivers value to the economy.

Mohammed listed the additional benefits of the DSO process to include manufacturing alone creating between 40,000 and 50,000 jobs because digitisation requires all homes to have a set-top-box or smart TV. Mohammed said: ‘’TV production alone can create 200,000 jobs. Digitisation will make it possible to have at least 180 state channels, 30 regional channels, and at least 10 national channels, catering for local music, news, film, children programming, and sports, among others. ‘’This will create better competition because with the audience measurement and

media monitoring system put in place, you can now measure which programmes people are watching so that value is rewarded.’’

According to him, with DSO, film production can generate 350,000 to 400,000 jobs and just as Nollywood moved from VHS tapes to VCD and DVD, it will now, with digitalisation, move to Push and Subscription Video-OnDemand on the Set-Top-Boxes and online, thus curbing piracy, making distribution cheaper, easier, and further enriching film producers.

Mohammed said as an extension to the booming production business, another 200,000 jobs could be created as Nigeria grew the capacity to meet the quality demand of fullyindigenous content creations, expected to bring back the over $100 million currently exported to South Africa, Europe, and the United States by Nigerian producers.

On distribution, he said to supply the market with SetTop-Boxes, TVs, and dongles required for internet connection, the country would need at least 100,000 wholesalers, retailers, electricians, installers, marketers, and payment solution providers in order to cover the entire country. ‘’TV and online advertising can create a further 50,000 jobs: The concept of advertising will become more local than national because you can target customers at the bottom of the income bracket with products specific to their needs and location. ‘’And, of course, fast-moving consumer goods will have more forensic proof of their customers and what they watch and where they are. Finally, with a successful DSO, the problem of internet connection to every home will finally be solved’’, the minister explained.

CDS UNDERGOES SCRUTINY...

L-R: Minister of Defence, Maj. Gen. Bashir Magashi (rtd); Senior Special Assistant to the President on National Assembly Matters (Senate), Senator Babajide Omoworare; and Chief of Defence Staff-Designate, Maj. Gen. Lucky Irabor, at the screening of the service chiefs in Abuja…yesterday julius atoi

Auditor-General Indicts MDAs for Improper Spending of N105.66bn James Emejo in Abuja The office of the Auditor-General for the Federation (AuGF) has expressed concerns over irregularities and weaknesses in financial regulations across ministries, departments and agencies (MDAs) of government, especially in the disbursement and utilisation of public funds.

The AuGF said transparency and accountability in government financial management systems could not be over-emphasised, particularly given the country's rapidly dwindling revenues as well as its impact on annual budget.

The auditor general, in the latest annual report on the financial conduct of public institutions, which was obtained from its website, lamented that a total sum of N105.66 billion had been expended by MDAs in breach of extant rules and regulations.

The development came amidst reforms undertaken by the Buhari administration to instill sanity in the public procurement and finance system.

The report stated that N18.36 billion had been awarded for contracts with disregard to the

Public Procurement Act. The AuGF also expressed concern over the persisted inherent weaknesses in the system despite his previous recommendations to the Minister of Finance, Budget and National Planning as well as the Accountant General of the Federation for prompt actions.

The latest audit assessment stressed the need for authorities to enforce strict compliance with legislations, rules and regulations across all MDAs. It said the Public Accounts Committees of both chambers of the National Assembly should look deeply into the issues raised in the report and ensure the reports and resolutions of the legislature on these matters are forwarded to the executive for implementation.

It added that clear sanctions should also be imposed on erring officers going forward.

The audit revealed that revenue amounting to N54.69 billion was not remitted to government coffers by agencies.

It stated that while 18 revenuegenerating agencies failed in their statutory obligations of remitting revenue generated to the Consolidated Revenue Fund

(CRF), 17 other MDAs failed to either deduct or remit deductions by way of Value Added Tax (VAT), Withholding Tax (WHT), Pay As You Earn (PAYE) and Stamp Duties.

The audit, among other things, found that 72 payments, amounting to N23.48 billion, were made by 43 MDAs in violation of extant rules.

It stated that irregularities and failure to comply with regulations in the spending of public funds could result in the misapplication or misappropriation of funds.

Moreover, 25 MDAs awarded 52 contracts totaling N18.36 billion, in violation of the Public Procurement Act, 2007, the audit added.

The AuGF said: "The violation ranges from disregard to due process, irregularity in payment for contracts, excessive pricing of procurements, payment for services not rendered, payment in full for uncompleted projects and other similar infractions."

The report also warned that a breach of the Procurement Act and other weaknesses in procurement processes may be deliberate means to siphon public funds.

It said while the amounts involved in the infractions should be recovered into government coffers, sanctions in sections of the Procurement Act should apply against erring officers.

It added that erring MDAs should be denied budget appropriations as well as the affected accounting officers being surcharged.

Some of the agencies indicted by the audit report for breaching due process, financial mismanagement, and non-compliance with financial regulations, among others, included the National Agency for Food and Drugs Administration (NAFDAC), Federal Ministry of Finance, National Identity Management Commission (NIMC), the Bank of Industry (BoI), Financial Reporting Council of Nigeria (FRCN) and the Nigerian Social Insurance Trust Fund (NSITF).

Others are the Nigerian Maritime Administration and Safety Agency (NIMASA), Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Petroleum Products Pricing Regulatory Agency (PPPRA) and the Federal Ministry of Works and Housing.

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FREEDOM AT LAST… Some of the passengers of Niger State Transport Authority kidnapped by bandits released recently savour their freedom

WE SAW HELL IN KIDNAPPERS’ DEN, FREED VICTIMS NARRATE ORDEAL in an interview with ARISE NEWS Channel, the broadcast arm of THISDAY Newspapers, one of the freed victims said they could neither sleep nor drink water.

He said the bandits subjected them to serious torture, threatening to kill them.

“You can’t sleep the way you want, wake up the way you want, eat the way you want. Even drinking water was a problem. They will be beating you and shooting guns up and down,” he said.

According to him, “The bandits insisted that it’s either they should come and bail us all or they will kill all of us.”

He disclosed that they trekked for 24 hours in the bush and could only stop when they asked them to stop.

“Before you match the brake, they started shooting.

It was when they shot the car that I just stopped,” the freed victim said in a narration of how he was captured.

He noted that he was pressing his phone when he just felt the bullet on his head. “They said I should continue moving with them.”

The freed kidnap victim also disclosed that the bandits complained that they are homeless and their cows stolen and wondered why the government should ask them to leave the bushes without giving them anything.

Another victim also disclosed that the bandits were always communicating with some people.

He said: “There are people they were always communicating with.

They said that whatever we wanted to do, we must take permission from them.

Whatever you wanted to do, they would ask you what are you going to do? Or they will call you and say, ‘come here, do you have money to bail yourself?’

“They will ask you how much? Do you have N5million? Most of us will say, no that the highest we can give you people is N100, 000 or N150, 000. Before you know it, they will just beat you.

“I thank God, but they seriously beat me and my friend.”

According to him, the bandits started beating them on Friday.

“On Saturday morning, around I.30am, they asked

my friend and me to wake up and they carried us to one place and they asked us ‘can you bail yourself’ and while we were asking them how much, before we knew it, they started beating us.

“Then one of their leaders came out and asked them to stop beating us and they asked us to return.”

He also narrated his experience on Saturday night when the elderly one among the bandits was communicating with someone outside and the gunmen asked all the victims to lie down, while they were waiting for instructions from outside.

Govs Vow to Resist Disintegration But Nigeria Governors’ Forum (NGF) yesterday attributed the worsening insecurity in the country to a calculated effort to destroy Nigeria, vowing not to spare any effort to frustrate the attempts at dismembering the country.

Its Chairman and Ekiti State Governor, Dr. Kayode Fayemi, who led his colleagues on a visit to Minna to sympathise with Niger State Governor, Mr. Sani Bello, over the security crisis in the state, including the abduction of 17 pupils of Government Science College, Kagara, and 15 others said, governors would fight to save the country.

He spoke just as the military high command yesterday said troops, on the orders of the Chief of Army Staff, Maj. Gen. Ibrahim Attahiru, have cleared Marte and other towns occupied by terrorists in Borno State.

The military also debunked claims that the terrorists hoisted their flags in the seized communities.

Fayemi stated that the country was witnessing terrorism, and rallied all stakeholders to defeat it.

He said: "The agenda is to destroy the Federal Republic of Nigeria; let's not make any mistake about it. That is the ultimate agenda. We will fight this agenda with every fibre in our body and indeed we will fight it in order to save our country.

"What we are witnessing is terrorism; there is no other name for it. Yes, we may call it banditry; we may call it kidnapping; these are remnants of the actors of the North-east that have found themselves in other

parts of the country whether they are known as ISWAP, or Albanawi faction or known as Shekau people, they are remnants of what we are still dealing with in that part of the country."

He charged Nigerians not to give up hope, saying: "Even in these difficult times, we must put all our efforts together, demonstrate resilience, reassure our people not to give up hope because we can only defeat terrorism collectively not in isolation."

According to him, what Nigerians want is to sleep with their two eyes closed and not to trade blame or engage in a circle of lamentations.

Fayemi, therefore, expressed the need for everyone to come together as a country instead of engaging in a blame game either as leaders or citizens.

He also called for an improved relationship among the security agencies, adding: “The nation's security institutions need to come together; there should be better coordination, better sharing of intelligence and a concerted arrangement and synergy that will enable us to defeat this menace."

He said the governors had identified with the struggle of the people of Niger State in the last two weeks.

"We feel your pains we feel your fears and anxiety," he stated, adding that the situation is not peculiar to the state.

In his remarks, Bello described the visit of his colleagues as a morale booster to the government and people of the state, saying the kidnap of the schoolchildren is an agenda to stop people from going to school, which will fail.

Bello urged the federal government to work with the states to find a lasting solution to the problems of insecurity in the country.

On the delegation were the Plateau State Governor, Mr. Simon Lalong; Sokoto State Governor, Hon. Aminu Tambuwal; Kwara State Governor, Alhaji AbdulRahman AbdulRasak and their Nasarawa State counterpart, Alhaji Abdullahi Sule.

13 killed, 40 Others Injured in Rocket Attack on Maiduguri Meanwhile,

residents

of Maiduguri were left scampering for safety as multiple rockets were launched into the troubled birthplace of the terrorist group, Boko Haram.

As at the time of filing the report last night, a team of security, military, Civilian JTF and humanitarian workers were still combing the town for corpses even as the injured were assisted to the hospital.

An initial count of corpses has it that 13 persons were lost even as over 40 persons were reportedly injured.

The major casualties were recorded at a football pitch in Gwange near the House of Late Maj. Gen. Mamman Shuwa, who was one of the earlier casualties of insurgency in the state.

At the football pitch, nine boys who were playing football early evening were killed by the shot rocket.

Many others were injured at the football pitch by the rockets, which many said were 10 in number fired simultaneously.

Other parts of the town were not spared the rocket launch believed to have been shot to destabilize the town, paving the way for a massive attack by the insurgents.

At Adam Kolo part of the town, the rocket killed four persons and injured many others.

Multiple sources said four persons were killed in the explosion in the area, which also resulted in injuries to many others.

One of the sources said a Mercedes Benz parked in the area was totally destroyed.

He said that the corpses were removed and taken to the State Specialist Hospital.

He said those that were injured were equally assisted to the hospital to be treated.

When our correspondent drove to the place about 6:30 pm to have a clearer picture of happenings, the entire area was cordoned off by Civilian JTF and some soldiers.

Many people were seen fleeing into other parts of the town with the fear that it may be a prelude to further attacks.

One of those that spoke said: “This is strange, in all the years of the attack on Maiduguri, we have not seen such massive rockets landing on us.

“We just need to flee into town for it is getting dark and we do not know what lies ahead.”

The military had to push

the insurgents who were stationed around the town away with air bombardment to stop the town from getting infiltrated by the insurgents.

One of THISDAY’s top security sources, who was contacted said he could not talk as he was still involved in getting those injured to the hospital and getting the town secured from infiltration.

All attempts to get the military and other security agencies to talk on the incident officially was unsuccessful as messages sent to their known spokesmen were not replied, and calls to their mobile lines were not picked.

Scores of Terrorists Killed as Troops Clear Borno Communities The military high command, however, said earlier yesterday that troops on the orders of the Chief of Army Staff, Maj. Gen. Ibrahim Attahiru, have cleared Marte and other towns occupied by terrorists in Borno State.

THISDAY learnt that scores of terrorists were killed during the battle while land mines designed to hinder the movements of troops were destroyed.

Marte, a local government area in the troubled state was recently reported to have been attacked and taken over

by Boko Haram.

Addressing troops of the Nigerian Army Super Camp 9, Dikwa, Borno State last weekend, Attahiru had directed them to clear the insurgents from the areas within 48 hours.

But the Nigerian Army said Attahiru led troops to clear the towns of insurgents.

Army spokesman, Brig.

Gen. Mohammed Yerima, told THISDAY that Attahiru led troops to rid Marte and other towns of insurgents.

He said claims that insurgents hoisted a flag in Marte were unfounded.

"Were they there? The chief of army staff was there himself. Was he not there by himself? He went there with troops and cleared everything; so, is it this morning that they will say insurgents hoisted their flag?

Were they there?

"We have to work to build this nation and not to bring it down," he said.

Yerima said Attahiru led the troops in order to boost their morale.

"This is an incident that

happened and the chief of army staff was there by himself. He boosted their morale. He changed the deployment.

"Don’t allow anybody to bamboozle you. If there is any development, I will let you know," he said.

One of the leaders of Civil Joint Task Force in Borno State, Baba-Shehu AbdulGani, also confirmed to THISDAY that Boko Haram has been pushed back from Marte LGA. Abdul-Gani said the soldiers were in Marte and had taken control of the local government area.

He said: “I can tell you that the troops of the Nigerian Army are now in Marte and there is no more sight of the terrorist group.”

The army chief had given the troops 48 hours to clear areas around Marte, Chikingudu, Wulgo, Kirenowa.

“You must not let this nation down. Go back and do the needful and I will be right behind you. You should rest assured of all the support you require in this very onerous task.

“You are aware of the recent attack on Dikwa and Marte, you should not allow this to happen again; go after them and clear these bastards,” he had stated.

The COAS had commended the efforts of the troops in the fight against Boko Haram.

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WEDNESDAY, ͺͼ˜ ͺ͸ͺ͹ ˾ T H I S D AY

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NEWS

Senate Confirms Ex-service Chiefs as Ambassadors House approves new military top brass Deji Elumoye and Udora Orizu in Abuja The Senate yesterday confirmed the nominations of former Chief of Defence Staff (CDS), Gen. Abayomi Olonisakin (rtd); former Chief of Army Staff, Lt. Gen., Tukur Buratai (rtd) as well as his Navy and Air Force counterparts, Vice Admiral Ibok Ekwe Ibas (rtd) and Air Marshal Sadique Abubakar (rtd), along with a former Chief of Defence Intelligence, Air Vice Marshal Mohammed Usman (rtd), as non-career ambassadors.

However, there was a mild drama at the Senate plenary as Senate Minority Leader, Senator Enyinnaya Abaribe, kicked against the confirmation.

He had queried the nonconsideration of the petition

that was written against the nominees by the Senate Committee on Foreign Affairs during the screening of the nominees.

The confirmation was a sequel to the consideration of the report of the Senator Mohammed Bulkachuwa-led Senate Committee on Foreign Affairs, which screened the five nominees.

President Muhammadu Buhari, in a letter to the Senate and read at plenary on February 10 by President of the Senate, Dr. Ahmad Lawan, had sought the consent of the Senate chamber to appoint the former service chiefs as non-career ambassadors.

The Senate Committee on Foreign Affairs was thereafter given two weeks to screen the nominees and report back to

plenary.

Presenting the report, Bulkachuwa said the nominations of the former service chiefs were in line with section 171 of the 1999 Constitution as amended.

Bulkachuwa, however, said the committee received petitions against their nominations but the petitions were dismissed.

The senator, while urging his colleagues to confirm the nominees said they were knowledgeable and articulate in their responses to the questions directed at them.

Soon after the report was laid, Abaribe raised a point of order and drew the attention of his colleagues to a petition against their confirmation.

Abaribe had asked

House of Representatives at the plenary yesterday confirmed the president’s nominees for the headship of the military.

The service chiefs approved by awaiting Senate’s concurrence are Chief of Defence Staff (CDS), Maj. Gen. Lucky Irabor; Chief of Army Staff, Maj. Gen. Ibrahim Attahiru; Chief of Naval Staff, Rear Admiral Awaal Gambo; and Chief of Air Staff, Air Vice Marshal Isiaka Amao.

The confirmation followed a unanimous adoption of the report laid by the chairman of the screening committee set up to screen them.

The Chairman of the committee, Hon. Babajimi Benson, said the nominees were thoroughly screened by the lawmakers.

Bulkachuwa to explain why the petitions against the former service chiefs were dismissed.

He said: ''I’m looking at page three and I want the chairman to give us some little explanations. On the petitions from two persons, the first petition from a guy called Dickson, that the committee would have given us a little inclining on the petition and the reason why it was dismissed. That first petition borders on the integrity of the Senate. ''That this Senate took a resolution that these men should be removed as heads of the security apparatus in Nigeria and three times we took that decision here. For this same people to be brought back to us to be confirmed for another appointment, the

Senate is under obligation to look at the resolution they had taken before going ahead.''

Intervening, Lawan dismissed Abaribe's position, saying that the petition lacked merit.

According to him, the former service chiefs were nominated as ambassadors and not as service chiefs hence the petition is different from what they are nominated for.

The nominees were thereafter confirmed after a motion to that effect was moved by the Senate Leader, Senator Yahaya Abdullahi, and seconded by Abaribe.

income growth, the bank’s cost-to-income ratio (ex-LLE) settled higher at 54.3 per cent (2019 50 per cent). Also, profitability was stronger, with PBT settling 5.2 per cent higher. However, PAT was 10.4 per cent higher, on account of a 26.6 per cent decline in income tax expense,” they said.

As a testament to the superlative performance and in recognition of its track record of excellent performance, Zenith Bank was voted as Bank of the Year (Nigeria) in

The Banker's Bank of the Year Awards 2020, Best Bank in Nigeria in the Global Finance World's Best Banks Awards 2020 and Best Corporate Governance 'Financial Services' Africa 2020 by the Ethical Boardroom.

Also, the bank emerged as the Most Valuable Banking Brand in Nigeria, for the fourth consecutive year, in the Banker Magazine "Top 500 Banking Brands 2021" and Number One Bank in Nigeria by Tier-1 Capital in the "2020 Top 1000 World

Banks" Ranking published

by The Banker Magazine.

Similarly, the bank was recognised as Bank of the Decade (People's Choice) at the ThisDay Awards 2020, Retail Bank of the year at the 2020 BusinessDay Banks and Other Financial Institutions (BOFI) Awards, and Best Company in Promotion of Good Health and Well-Being as well as Best Company in Promotion of Gender Equality and Women Empowerment at the Sustainability, Enterprise and Responsibility (SERAS) Awards 2020.

with the Local Content Act. Usman, who represented the Group Managing Director (GMD), Malam Mele Kyari, said although Brentex/CPP is the main contractor, the NNPC does not dictate how the company delivers the contract or who it engages in the execution of the contract.

Also speaking, the Executive Vice Chairman, Brentex Nigeria Ltd, Mr. Sani Abubakar, said Brentex is a 100 per cent- owned Nigerian company, which was awarded the gas pipeline contract in line with local content laws.

Abubakar said: "We are here to say the facts, naked facts. I didn't know the larger aspect of this hearing was about my relationship. I am starting with myself. If we have known, our responses would have been more pronounced."

Briefing journalists at the end of a meeting, the Lead Solicitor of Local Content Advocacy and Monitoring Group, Mr. John Lebor, called on the House to compel NNPC and a Chinese Company, CPP Consortium to take away China Content from the $2.6 billion Ajaokuta- AbujaKaduna-Kano Gas Pipeline Project (AKK) to promote Nigerian local content.

Lebor said the Group was going to petition President Muhammadu Buhari to call NNPC to order to ensure that the project reflects Nigeria's local content to avoid capital flight, stressing that Nigerian companies were folding up and the $2.6 billion can help resuscitate them.

He noted that at the award of that project, NNPC and BPP insisted that there must be a local content company with the capacity and Bablinks

Nigeria Limited was the company that has that local content capacity in the sense that they have done a lot of pipeline projects in Warri with Shell and they are one of the best in the country.

Lebor stressed that Brentex Consortium, being a company without experience in oil and gas pipeline entered into partnership with Bablinks.

He added: "The due process document that was produced by the Bureau for Public Enterprise that was taken to the Federal Executive Council to approve this contract, clearly specified that Brentex should be responsible for procurement of the pipelines while Bablinks should be responsible for construction and engineering services. So as technical partners, after they entered the agreement, they now removed Bablinks.

"If Bablinks was not part of the due process, there would have been no local content that the contract would have been awarded.

So, because of the impact of that, it means that we went to China. Remember that the Brentex Consortium brought in the Chinese Company CPP because they claimed to be the company financing but when they came in, fraudulently they told NNPC we don't have the money, bring in the Chinese government.

So, CPP was used to bring in the Chinese Government.

The Chinese Government now offered loans to us at inhumane sovereign guarantee."

Lebor insisted that China is not doing Nigeria a favour, because the money borrowed to execute the project would be paid back within 10 years.

House Approves New Military Top Brass In another development, the

ZENITH BANK SHOWS RESILIENCE AS PROFIT HITS N231BN was impressive.

They said they had expected that the combination of a slowdown in business activities due to the pandemic and continual sterilisation of funds by the Central Bank of Nigeria (CBN) would result in weak income generation.

“However, the bank was resilient during the period, with this positive performance ultimately propelled by the strong balance sheet management and much-reduced tax expense,” they said.

Cordros Securities said

as witnessed all through 2020, non-interest income (NII) generation was strong, settling 8.5 per cent higher at N251.75 billion, explaining that the strong growth recorded was supported by expansions in foreign exchange (FX) revaluation gains (+276.4 per cent to N43.44 billion) and gains on investment securities (+3.3 per cent to N121.68 billion).

“This expansion in NII, alongside the growth in net interest income, led to a 7.7 per cent increase in operating income to N511.89 billion,”

the analysts said.

They noted that operating expenses(OPEX) growth was moderate, as the bank continued to focus on cost management in the face of moderate gross earnings growth.

“Opex grew by 10.4 per cent to N256.03 billion, with the most pressure exerted by other operating expenses (+16.9 per cent to N102.76 billion) such as information technology (IT) and maintenance costs.

Consequent to the Opex growth relative to operating

AT $66, SOARING OIL PRICE REINFORCES IMMINENT HIKE IN PETROL COST petrol tomorrow.

The Nigerian National Petroleum Corporation (NNPC), the sole importer of the product, had last week assured the nation that there would be no increase in February until negotiations with labour were concluded.

However, the corporation had told the labour and government’s negotiating teams that the expected open market price of the product was N206 per litre.

As at that time, the oil price at the international market was $63.

But the corporation has continued to bear the extra cost as the product is still being sold between N165 and N168 per litre.

On Monday, the Minister of Labour and Employment, Dr Chris Ngige, said the meeting scheduled to discuss the issue would determine the next line of action, stressing that the governors needed to be carried along.

When the oil price hit $60 and the landing cost of petrol estimated at N186.33 per litre, the Minister of State, Petroleum Resources, Mr. Timipre Sylva, had asked the country to prepare to bear the pains of the expected increase.

The federal government had said it had deregulated the downstream sector, and that prices would thenceforth be tied to among others, to the international price of crude oil.

However, yesterday’s crude oil price rise was partly as a result of information that shale oil producers in the southern United States could take at least two weeks to restart the more than two million barrels per day (bpd) of crude output that shut down because of cold

weather, as frozen pipes and power supply interruptions slowed their recovery.

Goldman Sachs Commodities Research had raised its Brent crude oil price forecasts by $10 for the second and third quarters of 2021, citing lower expected inventories, higher marginal costs to restart upstream activity and speculative inflows.

The Wall Street bank expects Brent prices to reach $70 per barrel in the second quarter from the $60 it predicted previously and $75 in the third quarter from $65 earlier.

Meanwhile, the leaders of the OPEC+ alliance, Saudi Arabia and Russia may once again clash over oil supply management ahead of another crucial meeting of the group next week.

OPEC’s top producer and de facto leader, Saudi Arabia, would likely prefer the March 3-4 meetings to decide that the OPEC+ coalition holds production flat in April, Bloomberg has reported.

However, the key Saudi partner in the deal, Russia, will likely be pushing for further easing of the production cuts, especially as Russian Deputy Prime Minister Alexander Novak said earlier this month that the global oil market was balanced and that the current price of oil reflected this market situation.

Therefore, the two leaders of the pact are once again going into an OPEC+ meeting with diverging views on how to manage supply to the market.

“Oil producers need to remain extremely cautious as uncertainty on the market is still very high, Saudi Arabia’s Energy Minister, Prince

Abdulaziz bin Salman, said last week.

Saudi Arabia, through its extra cut of one million barrels per day (bpd) in February and March, has helped the efforts of the OPEC+ alliance to tighten the oil market in the first quarter, while demand is still relatively weaker, especially outside Asia.

The extra Saudi cut has been one of the factors that have supported the oil price rally in recent weeks, however, analysts reckon more OPEC+ members, especially Russia would likely push for a more aggressive easing of the cuts from April.

House Investigates Alleged Breach of Local Content in $2.6bn AKK Project Meanwhile, the House of Representatives Committee on Nigerian Content Development and Monitoring has commenced the probe of alleged violation of the Local Content Act by Brentex Consortium in the ongoing construction of the $2.6 billion Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project.

The committee chaired

by Hon. Legor Idagbo, has summoned the Corporate Affairs Commission (CAC), Bureau of Public Procurement (BPP) and Infrastructure Concession Regulatory Commission (ICRC) to appear before it at the next sitting.

He directed NNPC, Brentex/CPP, Bablinks to bring all documents related to the contracts as well as all agreements between parties involved within one week for further legislative action.

The committee also directed the Clerk to write to CAC to provide it with details of owners of the companies involved in the project contract.

An advocacy group, Local Content Advocacy and Monitoring Group, had in a letter dated February 2, 2021, addressed to the Speaker, Hon. Femi Gbajabiamila, alleged breach of local content in the award/execution of the Kaduna -Kano section of the Ajaokuta to Kaduna gas pipeline project awarded to Brentex/CPP Consortium.

The letter read: "Mr. Speaker, we wish to draw your very esteemed attention to the implicit violation of the Nigeria Local Content Act in the ongoing execution of the 40"×318.6 Km (BVS12Kaduna-Kano Section) of the Ajaokuta to Kaduna to Kano Gas Pipeline Project (AKKP) Segment 2 being a contract awarded by the NNPC on behalf of the Nigerian government in 2015 to Brentex CPP." The petitioners alleged that some Chinese companies were brought in to lay the pipes that could have been done

by Nigerian operators.

It was based on this petition that the companies involved and the Nigeria National Petroleum Corporation (NNPC) were invited to appear before the committee.

In his presentation at the meeting, the NNPC Chief Operating Officer (COO), Gas and Power, Mr. Yusuf Usman, said the contract was awarded to the Brentex/CPP consortium, which brought in Bablink Resource Limited, adding that all the terms of the contract have complied

WEDNESDAY FEBRUARY 24,2021 ˾ T H I S D AY

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NEWS

Gunmen Set Ablaze Abia Police Station, Kill Policeman, Free Detained Suspects The Abayi Police Station in Aba, the commercial hub of Abia State was burnt down by yet-to-beidentified gunmen in the early morning hours of yesterday.

The attackers also burnt all the operational vehicles parked within

the premises of the police station.

The Police Public Relations Officer in the state, Mr. Geoffrey Ogbonna, who confirmed the incident, said the gunmen numbering over 100 had attacked the police station from a nearby

compound with the intention of taking over the station.

The Police spokesman added that the attackers who freed some suspects in the police station threw petrol into the station before gaining entrance into the facility.

He said some policemen on

duty engaged the hoodlums in a gun battle, which resulted in the death of one policeman and some casualties on the side of the hoodlums, while many of them fled with bullet injuries Ogbonna revealed that some of the hoodlums had

been arrested by the police, while a manhunt had been launched for those at large.

He urged all health facilities in the state especially in Aba to report anybody with suspected bullet injuries that come

for treatment to the police.

He said, “Hospitals can give treatment to people with suspected bullet injures to revive them, but they should do well to report such a person to a nearby police station.”

Farmers Tackle Lalong over Claim on AK-47 Rifle Chuks Okocha in Abuja and Seriki Adinoyi in Jos Plateau State chapter of All Farmers Association of Nigeria (AFAN) yesterday berated Governor Simon Lalong over his statement that farmers and herders bear AK-47, insisting that farmers in the state do not bear AK-47 as claimed by the governor.

Describing the governor’s accusation as unfortunate, Chairman of the association, Mr. John Wuyep told journalists that the governor was wrong in his claim.

Wuyep was reacting to a statement made by Lalong, who had earlier yesterday lamented the proliferation of arms amongst herders and farmers in the country.

Lalong, who is also the Chairman of the Northern

Governors Forum spoke on a live TV programme, where he said, ““At the time there were farmers-herdsmen clashes here (in Plateau), we arrested people, farmers also had AK-47 and the herdsmen were also holding AK-47 too. But if you want all of them not to hold AK-47 again, you must put deliberate efforts to curtail the influx of light arms and secondly find ways to take these people away from the old type of farming and then introduce them to the modern system.”

But reacting to the statement, Wuyep said, “Carrying AK-47 is a big offence; farmers in Plateau are law-abiding, they go about their business peacefully. So far in Plateau, there has been no case of any farmer caught with AK-47 or any weapon.”

Buhari Reiterates Commitment to Lift 100m Nigerians Out of Poverty Deji Elumoye in Abuja President Muhammadu Buhari has assured that his administration’s commitment to lift 100 million Nigerians out of poverty will be pursued with vigour.

According to him, the government’s ambitious policy of lifting 100 million Nigerians out of poverty did not come by accident or “something we just bumped into,” but a deliberate one that will be pursued with remarkable grit and determination.

Speaking yesterday at a meeting with the Presidential Economic Advisory Council (PEAC), which was also attended by Vice President Yemi Osinbajo at the Presidential Villa in Abuja, the President, in a statement issued yesterday by his Media Assistant, Malam Garba Shehu,

agreed with the council that the country required a poverty reduction strategy that will usher in a “rapid, sustained, sustainable and inclusive economic growth.

Speaking after the presentation of the report on national poverty reduction strategy, developed by the PEAC, Buhari requested the PEAC to present the document to the Federal Executive Council (FEC) today as part of the consultation process.

He also agreed with the council that this ambitious programme of lifting 100 million Nigerians out of poverty is a challenging one, but one that can be achieved.

The President wondered what became of the nation in the past, “with all the resources available to it” that no such coordinated, holistic agenda on poverty reduction was ever contemplated.

...Launches Strategy to Combat Cyber Crimes President Muhammadu Buhari has expressed concern over the rising wave of the activities of cyber criminals, which is giving his administration some concerns.

The president said yesterday at the launch of the National Cybersecurity Policy and Strategy 2021 in Abuja that the growth and development of the internet had caused a rise in the threats posed by cyber criminals, online financial fraudsters and cyber terrorists.

H e a d d ed that like several other countries, the growth and

development of the internet is accompanied by significant problems.

He said: “We are witnessing a rise in threats posed by cybercriminals, online financial fraudsters, and cyber terrorists who use the Internet to cause apprehension. We are also observing a surge in the use of the internet and social media for the propagation of hate speech, fake news and seditious messages, as well as the risks of breaches to personal information and government sensitive data. It is almost impossible to overstate the challenges.”

PROMOTING NON-OIL EXPORTS…

L:R: Chief Executive Officer, Nigeria Export Promotion Council (NEPC), Mr. Segun Awolowo; Governor of Kano State, Dr. Abdullahi Umar Ganduje; his deputy, Hon. Nasiru Gawuna; and Managing Director, Nigeria Export Processing Zones Authority (NEPZA), Prof. Adesoji Adesugba, during a visit to the Kano Free Trade Zone… recently

Bandits Kidnap Mother-in-law of Katsina Business Mogul, Mangal Francis Sardauna in Katsina Bandits yesterday invaded Matazu Local Government Area in Katsina State and kidnapped Hajiya Rabi Muntari, the mother-in-law of renowned multi-billionaire businessman, Alhaji Dahiru Barau Mangal.

The incident, according to a family member, Zaiyanu Muntari, who spoke with THISDAY, occurred at the early hours of yesterday when the fierce-looking hoodlums stormed the residence of the septuagenarian at Sha’iskawa in Matazu metropolis.

THISDAY reliably gathered that the gunmen had before then abducted the father-in-law of her son, one Buhari Muntari in Katsina town.

He said the brigands upon arriving the residence, started shooting sporadically in the air to scare away people in the community before whisking away the 70-year-old mother in-law of the Katsina-based business tycoon.

According to him, “the bandits came to Matazu town, at ungwar Sha’iskawa to be precise around 1am today (Tuesday) and moved

straight to the residence of our mother, Hajiya Rabi Muntari.

They forcefully broke into her room and abducted her to unknown destination.

“Hajiya Rabi is the mother-in-law of Alhaji Dahiru Barau Mangal, who is a renowned Katsina business Mogul”.

He tasked the state security agents to secure her release so that she could be reunited with her aged husband, whom he said is passing through some pains at the moment.

He equally called for a special

surveillance in the area as the people now live in constant fear and trepidation due to the perennial blackout they have been experiencing for the past one month.

When contacted, the spokesman of the State Police Command, SP Gambo Isah, claimed ignorance of the incident but promised to find out from the Division Police Officer in charge of Matazu Local Government Area and brief THISDAY. However, he had not responded as at press time.

Lagos to Acquire 24% Stakes in Trade Fair Complex,TBS Ndubuisi Francis in Abuja The Lagos State government has agreed to take up 24 per cent shares in the Lagos International Trade Fair Complex (LITFC) and the Tafawa Balewa Square (TBS) Complex, as the federal government finalises arrangements for the concession of some of its assets in the second quarter of this year.

According to a document presented by the Bureau of Public Enterprises (BPE) at

an investors’ forum in Abuja yesterday, the process for the concession of the two complexes would commence soon.

At the event organised by the BPE, its Director-General, Mr. Alex Okoh, who presented the document, said: “The concession process is expected to commence during the second quarter of 2020.”

He said the federal government would be obligated to renew the concession provided all concession terms were met

by the concessionaire.

“Lagos State has agreed to take up 24 per cent shares of the concession Special Purpose Vehicle in exchange for the requisite equity contribution in the redevelopment investment programme.”

Okoh said the TBS and LITFC had previously been given out but the government had to terminate the concessions.

“This was in view of the fact that the former concessionaire acted contrary to the expectations

guiding the development of those iconic and legacy facilities in Nigeria,” he stated.

Okoh said the expectation of the federal government in undertaking the concession of the LITFC was that it should be able to catalyse business in the West African sub-region.

This, he stated, should be through strategic trade exhibitions that project the vast potential of the industrial axis of Lagos and Ogun States.

South-west PDP Caucus Affirms Return of Olafeso, Others as Zonal Exco The South-West Caucus of the Peoples’ Democratic Party (PDP) has affirmed its support for the return of the Dr. Eddy Olafeso led Zonal Executive Committee of the party and called on delegates from the zone to elect them.

A communique signed by the Zonal Secretary, Hon. Daisi Akintan, and the Chairmen of Lagos, Osun, Ogun and Ekiti States, Mr. Adedeji Doherty, Hon.

Sunday Bisi, Dr. Sikirulai Ogundele and Mr. Bisi Kolawole respectively, at the end of a meeting in Lagos yesterday called on the Oyo State Governor, Mr. Seyi Makinde to desist from causing division in the party by creating parallel executive committees in some states.

The communique read: “We, the members of the Zonal Caucus of the party in the South West, pursuant to Section 27(5) as

amended in 2017, here gathered and deliberated on the fortunes of the party and particularly with emphasis to place it on sound footing in our zone and resolves as follows“That we stand firmly by the resolutions of the Ibadan meeting of March 12, 2020, affirming the return of Dr. Eddy Olafeso as the Zonal Chairman, Rev. Bunmi Jenyo as Zonal Secretary, among others, believing

that as matured and sincere party members, resolutions and agreements are sacrosanct and must always be respected.

“That sequel to the above, we are committed to respecting the zoning agreement, as conclusively agreed to at the meeting and furthermore endorsing thecandidatureofDr.EddyOlafesoand all other members of his executive or new additions injected into the list by leaders of the respective states.

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WEDNESDAY FEBRUARY 24, 2021 • T H I S D AY

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T H I S D AY • WEDNESDAY, FEBRUARY 24, 2021

COMMENT

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

THE SLEEPING OPPOSITION PARTIES Sonnie Ekwowusi urges the opposition to be alive to their responsibilities

F

or all you know, the final horse-trading and strategic build-up for the 2023 election have begun in earnest. But unfortunately the opposition political parties are nowhere to be seen in the scheme of things. Where have the opposition political parties gone? For weeks now, the ruling party All Progressives Congress (APC) has been busy validating or revalidating its membership list in order to enlarge the party’s membership base in readiness for the 2023 election. The pertinent questions remain: Why are the opposition political parties so silent? Why are they reluctant in contributing to good governance and nation-building by at least constructively engaging the ruling party in meaningful dialogue on the challenges facing the nation at the moment especially the increasing poverty and the heightened insecurity of lives and property in Nigeria?.

With the exception of the leading opposition party Peoples Democratic Party (PDP) and its Atiku Abubakar who speak out from time to time, the rest opposition political parties and their respective presidential hopefuls in the last presidential election have been in political comatose since 2019.

You will recall that it was the consistent superb and robust opposition put up by the APC in the wake of the 2015 general election that endeared her to the hearts of many Nigerians. This eventually culminated in the party winning the 2015 presidential election. But unfortunately President Buhari and the APC failed to live up to public expectation. In 2015 the APC and Mr. Buhari clinched power under the veiled mantra that they had vowed to fight and eliminate corruption in Nigeria. But paradoxically instead of fighting corruption as promised, the APC and President Buhari himself became so corrupt that the people vowed to vote them out in 2019. But shockingly enough, the APC and Mr. Buhari bounced back to power in 2019 no thanks to the master strokes of INEC chair Prof.

Mahmoud Yakubu (little wonder Prof. Mahmoud has been re-appointed as INEC Chairman) and the controversial 9/11 Supreme Court judgment.

Consequently in the last six years, Nigeria has overtaken India as the poverty capital of the world with statistics showing that 89 million people live in abject poverty. If you are in doubt and need corroboration, just take a studied look around you. If you do, you will realize that poverty itself is walking the streets of Nigeria. So, it is true that Nigeria has overtaken India and is currently the poverty capital of the world. Besides, the inflationary rate in Nigeria as of January 2021 was 16.47%. I guess it has increased further this February and will increase again in the coming months. President Buhari promised that he would “lift 100 million Nigerians out of poverty over the next 10 years and set them on the path to prosperity”. How? He failed to tell us. So, the phrase” lifting 100 million Nigerians out of poverty” is just a convenient catchphrase to give the impression that the government is doing something. But the truth of the matter is that such a catchphrase is not synonymous with economic prosperity. It is obvious that the ‘sending money” theory (over-borrowing and reliance on foreign aid) and other things embraced by the Buhari government cannot even lift two million Nigerians out of poverty not to talk of 100 million Nigerians.

Considering the forgoing therefore, the APC should be voted out in 2023. We need to inject new blood into the political blood stream of Nigeria. We need competing opposition political parties so as to enable the people make choices between these competing political parties and their competing political candidates at periodic elections. This is the beauty of democracy. If a political party cannot deal effectively with contemporary problems affecting the people; if it cannot promote the welfare of the people, it should be voted out at periodic elections to

WE NEED VIABLE AND INCORRUPTIBLE OPPOSITION PARTIES TO DEMONSTRATE SOME LEVEL OF COMMITMENT TOWARDS BUILDING A NEW NIGERIA

enable a new political party to emerge and tackle those problems. For example, the PDP was voted out in 2015 for its failure in power. In the same vein, the APC should be shown the red card in 2013 for its failure in power. Constitutional democracy confers the right to choose among the competing sets of political parties to run the government. But if this right is lost in Nigeria, genuine democracy will be lost; the will of the people will be truncated; tyranny will be enthroned paving the way for APC one-party totalitarianism.

But unfortunately as I earlier said, the opposition political parties in Nigeria have not been showing signs that they are ready to step into the badly worn shoes of the APC. In plain language, the opposition is weak.

It is unprepared for leadership otherwise how can you explain that with only 670 days to the 2023 presidential election (of course discounting the year 2023 which is the election year) the opposition political parties have not started galvanizing and erecting political structures, at least, to win the confidence of the people that they are credible and strong alternatives to APC and PDP. The impression being conveyed by the opposition parties and their respective presidential flag bearers is that there are opportunistic political parties who only jump out to make some noise a few months to the election to see what goodies they can get. This is sad.

I have just finished reading the magnum opus entitled: Opposition Political Parties and Promotion of Good Governance In Nigeria: Demystifying the Role of Peoples Democratic Party under All Progressives Congress-led Government. It is authored by the trio of Anthony Itumo, Chinyere Ndukwe and Victor C. Amagwula. In this work, the authors state that one of the greatest challenges facing the growth of democracy in Nigeria is lack of vibrant opposition. The authors opine that instead of using the opposition party structure as a platform to advocate for good governance and socio-political well-being of Nigerians, members of the opposition use their opposition parties as springboards to satisfy their vaulting selfish political ambition. The authors cite PDP as an example. They say that aside the “political injury” suffered by the party in 2015, the internal anti-party wrangling and the constant defection to APC by the selfish members of the party have weakened the party tremendously.

I cannot agree less with the aforesaid authors. One may be tempted to excuse the PDP for being weak due to the seemingly unending peculiar internal crisis constantly rocking the party and thus preventing the party from biting as it should. But one cannot find excuses for other opposition political parties. Why do these parties disappear from the political space after each election only to reappear again at the dawn of another election? For example, Prof. Kingsley Moghalu’s Young Progressive Party (YPP) positively impacted on many Nigerians during the 2019 presidential election campaigns. But no sooner after the 2019 election was won and lost than Moghalu and his party withdrew into their respective cocoons. I had thought that, given its pedigree as a party of young progressive minds, the YPP should have remained in the political space to be charting many courses in preparation for the 2023 general election. Jimi Agbaje is a governorship candidate loved by the Lagos electorate. But his undoing, in my view, is that he only wakes up whenever the Lagos governorship election is approaching. Since 2017 Pat Utomi, Olisa Agbakoba, Oby Ezekwesili, Ghali Umar Naaba, Femi Falana and others have been threatening to float a movement that would later metamorphose into a mega credible opposition party, but, somehow the project has been suffering multiple setbacks. A few weeks ago, the Pat Utomi gang issued a new threat to float a mega political party. We need viable and incorruptible opposition parties to demonstrate some level of commitment towards building a new Nigeria.

HAPPY BIRTHDAY NSIKAK ESSIEN Lanre Arogundade celebrates Nsikak Essien, a veteran journalist, at age 70

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t was a near tussle. Tunji Bello, National Concord’s Political Editor and strong insider in Publisher M.K.O Abiola’s presidential campaign had wanted me to be part of the mobilization for MKO across the country.

As a fellow students’ union activist during our campus activism days and a good friend he had not hesitated to nominate me to be part of the pre-campaign mobilisation across the country telling the caucus that I would be a useful asset in the area of youths, having been NANS president. On the basis of his recommendation, I was to lead a team to the North West part of the country.

I told my Editor, Nsikak Essien and his mien suggested disapproval. Apparently, he didn’t want some of his key line editors (I was Features Editor) to have divided attention between politics and journalism.

With the trip to the North West looming, he cleverly offered me an assignment to travel to Port Harcourt for an investigative report on a brewing crisis over the appointment of an Acting Chief Judge for Rivers State under Governor Ada George. He asked me to let Tunji know.

Invariably the decision was mine and I opted for the Port Harcourt trip. Editor Nsikak was excited.

“You know Amakiri now. The journalist that they shaved his head, he would be your contact”.

Amakiri was at the airport to welcome me and I was highly excited to meet the journalist whose name we had severally cited as evidence of military brutality during campus agitations. Lateef Jakande’s contribution to journalism as documented by Lade Bonuola,

included mobilising Gani Fawehinmi and Olu Onagoruwa to take up the case of Amakiri, then the Rivers Correspondent of The Observer, after Military Governor Diete-Spiff ordered his head shaved with a broken bottle for writing a critical story about him on his birthday!

Amakiri shrugged off my excitement with a smile, provided contacts and loomed in the shadows as I conducted interviews. One early morning he took me to observe developments around the government house and my ears were assaulted by strange shrieks. They were the voices of civil servants who regularly held morning devotions since Ada Gorge was a reverend. “That is the joke and nonsense that happen here on work days”, he lamented. It was another evidence for me that so-called Nigerian leaders know that religion remains the opium of the masses, which they regularly serve while they engage in abuse of office through ‘Jesus Christ our Lord’ or through ‘Mohammed our Lord’ as Fela sang.

I returned from Port Harcourt boasting of good stories and was glad Nsikak made the journey possible. But his stance only reflected an inner journalistic belief that though the political interests and influence of publishers cannot be wished away, news media and journalism can earn credibility if they stick to professionalism.

As I wrote before, National Concord under Nsikak Essien did not become a rabid megaphone of MKO or his political party - the Social Democratic Party (SDP). For every MKO or SDP story on the

front page, he insisted that there must be a story on or about the opposition National Republican Convention (NRC). The front page of National Concord under him was actually a study in diversity and journalism of social relevance as the four or five stories would usually include politics or governance, science, business, foreign news and sports. There were human angle reports too to which I contributed by way of news features – a kind of storified news analysis that made the front pages livelier.

He embraced the idea of twice daily editorial conference. At the morning session, the news editor would hint about the lead story while the line editors reported on what they had from their desks.

Never the one to hold back his feelings, the meeting would end abruptly in quarrel if he felt there were no good stories and the quarrel might continue during the evening session if he still felt unsatisfied.

On such occasions he would say: “my friend, we are here to work, we are here for serious business”.

But whenever the stories flowed satisfactorily, there would be gist and laughter although such occasions were not many. The editorial conferences were truly serious business. We would discuss and agree on the headlines. Meanwhile, in between quarrels and banters, he would talk about the qualities that would make one a better person and leader especially planning your day or schedule ahead, as he always did, with his pens (what a collection he used to parade) and diary serving as permanent companions. Actually, I rank Nsikak as high as T.A. Arogundade (my father), Gani Fawehinmi, Beko Kuti, Owei Lakemfa,

Ayo Arogundade (my brother), etc., in terms of being highly organised. I remain an aspirer.

Niskak worked hardest and drove others to work harder. “Hard work does not kill otherwise my boss (referring to MKO) would have died”, he once said.

He extended that philosophy to the business arena by encouraging reporters and line editors to generate adverts so that the newspaper can survive while the concerned journalists earn extra income through ten to twenty percent discounts.

Nsikak’s focus however was good journalism and he encouraged it. I recall how he exclaimed when I first published freelancer Louis Odion’s article on the Features page: “He’s such a damn good writer”.

Louis of course became a staff and star at National Concord. That focus also reflected in the house style of National Concord, which shunned verboseness and required that a sentence must not be more than 32 words. News came out in short free flowing paragraphs.

The university of journalism that National Concord under him constituted was shut down by Abacha’s bloody regime in 1994 thus terminating an exciting journey in journalism for me. But I’m glad that Nsikak has continued to feature in the University of Media Development of which the International Press Centre (IPC), has been a faculty for about two decades by serving as impactful resource person at few of our training programmes.

I join in celebrating a great journalist and Nigerian.

Arogundade is Director, International Press Centre, Lagos

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T H I S D AY • WEDNESDAY, FEBRUARY 24, 2021

EDITORIAL ON MAGASHI’S CALL FOR ‘SELF-DEFENCE’ The security and safety of the citizenry remain the primary responsibility of government

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gainst a backdrop of rising polarisation in the country following violent attacks that have triggered calls for reprisals, the Defence Minister, Bashir Magashi, has asked Nigerians not to be cowards, urging them to confront the bandits. His exact words: “It is the responsibility of everybody to keep alert and to find safety when necessary. But we shouldn’t be cowards. At times, the bandits will only come with about three rounds of ammunition, when they fire shots, everybody runs. In our younger days, we stand to fight any aggression. I don’t know why people are running from minor things like that. They should stand and let these people know that even the villagers have the competency and capabilities to defend themselves.”

That the nation quivers under threats of all colouration, with sundry mischief makers coming now and then to contribute whatever they can to create a climate of fear is not in doubt. But even at that, we do not expect a government to surrender cheaply to criminals. At a time when public confidence is rapidly THE CALL BY MAGASHI shifting to sectional and regional security IS AN ADMISSION THAT arrangements, the THE GOVERNMENT CAN NO LONGER GUARANTEE call by Magashi is an admission that the THE SECURITY OF LIFE federal government AND PROPERTY FOR CITIZENS AND RESIDENTS can no longer guarantee the security IN NIGERIA of life and property for citizens and residents in Nigeria. Yet the security and safety of all people in Nigeria remain the primary responsibility of the federal government.

Nothing can be more irresponsible than a call by the Defence Minister of a country that citizens should defend themselves against criminal gangs bearing arms. The pertinent question that arises

from his statement is: When and how did we sink so low as a society?

With Nigeria gradually descending to the Hobbesian state of nature where life is “nasty, brutish and short”, Magashi’s call can only further worsen the situation. The rule of law, as opposed to that of the jungle, presupposes that anybody accused of a crime, however heinous, is entitled to a fair trial before punishment could be meted if found guilty.

But now we can understand why more Nigerians are shunning the instrumentality of the law in the settlement of disputes. Because the state is not only powerless, it is showing in words (like Magashi’s) and deeds (ongoing negotiations with bandits for the release of students abducted from their school) that it has surrendered power to criminals.

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T H I S DAY EDITOR BOLAJI ADEBIYI DEPUTY EDITOR YEMI AJAYI, DAVIDSON IRIEKPEN, MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR KAYODE KOMOLAFE CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR JOSEPH USHIGIALE

T H I S DAY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI DIVISIONAL DIRECTORS BOLAJI ADEBIYI, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTORS PATRICK EIMIUHI, SAHEED ADEYEMO CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO HEAD, COMPUTER DEPARTMENT PATRICIA UBAKA-ADEKOYA

s we have said in the past, there is an urgent need to review the Police operational strategy with a view to enhancing its intelligence gathering capacity. Most of the crimes that are now commonplace could be nipped in the bud if police operatives have their ears to the ground. But how can they when their conducts make them repugnant to public confidence? Complaints are rife that information given to the police in confidence sometimes finds their way to the ears of criminals, who in turn hunt down the informants.

Yet public confidence is crucial if the police are to obtain vital information that would lead to the detection of crime. Through regular intelligence training and massive deployment of modern technology, it is possible to make policing duties more effective.

Without any doubt, the most pressing challenge facing the nation today is that of insecurity. But advocating that Nigerians should defend themselves against criminals is an admission that the federal government has failed without accepting responsibility. With Nigeria gradually sliding to chaos, there is need for a more coherent strategy to deal with the criminal gangs that have now practically seized power across the country.

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Dealing With Gender-Based Violence

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ccording to the United Nations, gender-based violence (GBV), interchangeably used with violence against women or at times domestic violence, is any act of violence that results in or is likely to result in physical, sexual or psychological harm or suffering to women/ young girls, including threats of such acts, coercion or arbitrary deprivation of liberty whether occurring in private [domestic] or public life. GBV is a global phenomenon and not limited to Nigeria.

It occurs in various cultures, and affects people irrespective of their economic status.

The primary targets of gender-based violence are women and adolescent girls. They also suffer exacerbated consequences as compared with what men endure. As a result of gender discrimination and their lower socio-economic status, women have fewer options and less resources at their disposal to avoid or escape abusive situations and to seek justice.

GBV can be physical, sexual or psychological. It can also be in the form of neglect and abandonment and economic disempowerment. It includes, but not limited to, such acts as slapping, kicking, stabbing, shooting, hitting, pouring of acid or any other corrosive substance on victim and, of course, murder. Other forms are harmful traditional practices and female genital mutilation.

Perhaps, the most common form of GBV is rape. Rape is having sex with a woman without her consent. Today, the rape epidemic in our society reflects the extent to which women’s human rights are flagrantly being threatened. Our laws and collective attitudes toward this weapon of domination and repression call to question not only our sense of justice but our level of civilization. Like a scourge, the regular

cases of reported rape in the country’s media and confirmed statistics from some states are threatening to smother the essence of the society.

Each day, the media is awash with weird stories with varying degrees of ludicrousness; from child defilement to the rape of old women.

Nobody, not even infants are safe from the evil rampage of these randy felons on the prowl.

Domestic violence is also a common aspect of GBV. These days, it is not unusual for husbands to turn their spouses to punching bags and oftentimes vent their anger and frustrations on the latter. They label their wives as witches whenever they experience downturn in their economic lives or lose their jobs.

Consequently, the wives suffer for the situations they did not partake in creating in the first place. In most cases, the charlatans turned prophets and spiritualists are the major culprits. Similarly, if a woman earns more than the man, there may be conflicts in the home leading to domestic violence because the man may be feeling inferior and may believe the only way to assert his authority in the home is by becoming violent.

In Lagos State, statistics have shown that 30% of girls from age 15-49 have become victims of gender-based violence, either sexually, physically and emotionally, but most prevalently sexual violence. 2020, in particular, ushered in a spike in GBV. This, probably, is due to the COVID-19 pandemic and its attendant effects on peoples’ sources of livelihood.

For instance, at the peak of the pandemic, before the lockdown, reported cases of domestic violence in the state were relatively low compared to when the lock down was implemented. In the first half 2020, the Lagos Police Command recorded 32 cases of sexual -based

violence in the state. It was also reported that one in every four girls before attaining the legal age of sexual consent have been a victim of sexual violence. And this has spanned amidst the pandemic.

In view of the evil it portends and dangers associated with it, the administration of Mr. Babajide Sanwo-Olu has demonstrated sufficient resolve to frontally confront the social vice in the state. In the forefront of the war against GBV is the wife of the State Governor, Dr Ibijoke Sanwo-Olu, who has declared zero tolerance to all forms of genderbased violence.

Currently, diverse methods geared towards eradicating the monstrous crime of gender- based violence are being deployed by Dr. Ibijoke Sanwo-Olu, with the support of relevant government’s agencies, in a renewed onslaught against sexual and gender Based violence in the state.

With the active role of the Ministries of Women Affairs and Poverty Alleviation (WAPA), Youth and Social Development, Justice, Education, Health and Information and Strategy, Lagos State Judiciary, the State Police Command as well as the Lagos State House of Assembly, the government is battling GBV through a multi-dimensional approach.

This includes legislation, public enlightenment campaigns and proper implementation of existing laws against GBV among others.

Many GBV usually lack the courage to seek legal redress on the violation of their rights due to lack of positive response from the society as the problem is often dismissed as a private one even by law enforcement agents and the fear of being exposed to more intense forms of abuse.

Omolara Otuyemi, Ministry of Information and Strategy, Alausa, Ikeja

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WEDNESDAY FEBRUARY 24, 2021 •T H I S D AY

WEDNESDAY FEBRUARY 24, 2021 • T H I S D AY

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T H I S D AY ˾ WEDNESDAY FEBRUARY 24, 2021

MIDWEEKPOLITICS

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

Boosting PDP’s Capacity for the Job Ahead in Anambra David-Chyddy Eleke reports that a governorship aspirant of the Peoples Democratic Party, Mr Valentine Ozigbo has given the party a boost in its quest to win over Anambra State in the forthcoming governorship election

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hough there are several political parties in Nigeria, just four of them have enough roots in Anambra State to be able to win the governorship contest, which comes up on 6th November 2021.

The Peoples Democratic Party, PDP is one of such political parties, and it is fighting hard to ensure it takes over the state, after it left power about 15 years ago.

Preparations towards the contest have been building up, but all the parties with the prospect to win the state have also acknowledged that there are several challenges facing them in their quest. At a South-east stakeholders meeting of the PDP held in January this year, the chairman of the party in the state, Mr Ndubuisi Nwobu lamented that the party was faced with numerous challenges, including lack of logistics that would aid its victory in the election. Nwobu lamented that the party in the state principally needs vehicles to run around, and that currently, he and members of his executive committee use their personal funds to run the party, including paying their staff members.

During the stakeholders meeting, Nwobu lamented the poor funding of the party, insisting that it is resisting the temptation of going cap in hand to beg for funds, and that such challenge was capable of costing the party victory in the forthcoming election. He charged the aspirants to help make donations that can be used in the running of the party secretariat, also stating that the party in the state was in need of buses and vehicles that could help it function efficiently.

In what looked like boosting the party for victory, frontline aspirant of the party in the forthcoming gubernatorial election, Mr. Valentine Ozigbo, has donated eight Toyota Sienna vehicles to the party officials for grassroots mobilisation and other party activities. Ozigbo who branded the vehicles also specified which party officials the vehicles were assigned to. They include; Chairman of the party in the state, Vice Chairman, Secretary, three zonal chairmen of the three senatorial zones in the state, the women’s and youth leaders respectively.

Ozigbo also promised to hand out N400,000 quarterly for the maintenance of the donated vehicles. The presentation, which took place at the PDP secretariat, Awka, the Anambra State capital, was in fulfillment of his earlier promise to support the party with vehicles.

Speaking during the event, Ozigbo said, the respect he had for the party leadership was part of the reason for the donation. He called for a more united party and sacrifice by every member of the PDP to dethrone the ruling party in the state. “This gesture is as a result of my deep affection, love and commitment for the party, and the need for PDP to take over Agu-Awka (Government House), come November 2021,” he said. He called on other PDP aspirants and other stakeholders to emulate the gesture, by supporting and donating to the party for which they use its platform, even as he pledged more support and contribution to the party.

Valentine Ozigbo (left) handing over the vehicles to the Anambra State PDP Chairman, Chief Nwobu

Ozigbo assured that anything needed to win the November 6 election, would not be in short supply, and promised to donate more vehicles to other party officials. He urged the state chairman, Hon. Ndubuisi Nwobu to ensure the vehicles were maximally used to achieve their purposes, insisting that the PDP was the only party to redeem Anambra, and Nigeria, at large.

The gesture spread a wave of excitement among members of the party as the state party secretariat immediately came alive. The keys

to the vehicles were presented to the officers in charge, just as the pledged to ensure that it would be used to ease movement before and during the election. The PDP seems to be the most enthusiastic about the forthcoming governorship election, as they hope for victory. With the unity that now exists in the party, and the belief that even though the state is predominantly a PDP state, division and rancor had previously cost the party victory in the past, they have every reason to be happy about the new found unity.

Frontline aspirant of the party in the forthcoming gubernatorial election, Mr. Valentine Ozigbo, has donated eight Toyota Sienna vehicles to the party officials for grassroots mobilisation and other party activities. Ozigbo who branded the vehicles also specified which party officials the vehicles were assigned to.

They include; Chairman of the party in the state, Vice Chairman, Secretary, three zonal chairmen of the three senatorial zones in the state, the women’s and youth leaders respectively. Ozigbo also promised to hand out N400,000 quarterly for the maintenance of the donated vehicles. The presentation, which took place at the PDP secretariat, Awka, the Anambra State capital, was in fulfillment of his earlier promise to support the party with vehicles. Speaking during the event, Ozigbo said, the respect he had for the party leadership was part of the reason for the donation. He called for a more united party and sacrifice by every member of the PDP to dethrone the ruling party in the state

Commending Ozigbo, the chairman of the party in the state, Chief Ndubuisi Nwobu, lauded Ozigbo for his unalloyed support to the party, noting that the vehicles would have psychological effect on the masses upon seeing the vehicles, adding that their psyche will immediately see a united party, and would speak volume of how active and alive the party is in the state. He noted that no candidate can win the governorship election without a strong party, stressing the need for party stakeholders to invest, re-energize the party.

Nwobu also expressed appreciation over the gifts, assuring that the party would use the vehicles to galvanize grassroots support for the party, even as he assured that the party would make good use of the donated vehicles to achieve the envisaged goals. He encouraged Ozigbo to sustain his grassroots movement to every part of the state, and enjoined him to keep interacting with the people and stakeholders of the party.

Ozigbo is among the over 15 governorship aspirants of the party, who are angling for the ticket of the PDP for the governorship election in Anambra State, which has been slated for 6th November this year.

Other very powerful aspirants who Ozigbo would square up against are; Dr Obiora Okonkwo; chairman of United Nigeria Airlines, Hon Chris Azubogu; member representing Nnewi North, Nnewi South and Ekwusigo federal constituency in the House of Representatives, Mr Godwin Ezeemo; a serial entrepreneur and business mogul, Dr Godwin Maduka; a US based medical doctor and owner of Las Vegas Pain Institute among others.

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T H I S D AY ˾ WEDNESDAY FEBRUARY 24, 2021

POLITICS

‘Nigerians Have Resorted to Clannish Satisfaction’

GOVERNANCE IN PHOTOS

Nseobong Okon-Ekong writes that the second term inaugural speech of Governor Oluwarotimi Akeredolu of Ondo State is filled with warnings that challenges Nigerians to believe in the country again

L-R: Governors Dapo Abiodun of Ogun State, Seyi Makinde of Oyo State, Oluwarotimi Akeredolu of Ondo State, Adegboyega Oyetola of Osun State and Dr. Kayode Fayemi of Ekiti State during the South West Governors Security Meeting, at Governor’s Office Ibadan, Oyo State

Akeredolu

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overnor Oluwarotimi Akerredolu of Ondo State has lamented what he described as daily attack on the National Consciousness is being attacked on a daily basis. “This,” he said, “is a great national pain.”

Speaking at his inauguration as Governor of Ondo State for a second term at the International Centre for Culture and Events (The Dome), Igbatoro Road, Akure on Tuesday, Akeredolu regretted that “rather than our nation, Nigerians are more inclined to ethnic nationalism.

We have resorted to clannish satisfaction in place of nation building. We are gradually and unconsciously replacing national patriotism with sectional activism.”

Rather than blame anyone for this unfortunate state of affairs, the Ondo Governor faulted the flawed structure of the country. He said, “Our very faulty and twisted federalism is responsible.”

He posited that things were so bad that “even those with palpable national passion and patriotism are today, gradually tilting to the unintended ethnic nationality cabin. Most Nigerians are losing faith in our ‘Unity in Diversity’ sloganeering. He however noted that all hope was not lost.

“There is an opportunity,” he said, “to restore national consciousness through True Federalism, which he declared hurts none, but pays all.

In part, Akeredolu’s speech was a reaction to the Inaugural Lecture delivered

by President of the African Development Bank, Dr. Akinwunmi Adesina which he labelled a Document of Hope. Commenting on the Adesina lecture, Akeredolu noted. “Today has been a very thrilling one of delightful moments. Moments of self-appraisal that have further lit up our hopes and brightened our collective minds.

The day has indeed, provided yet another path for national self-reassessment by the vintage Dr Akinwunmi Adesina. We salute you. Like many others here and even beyond, I am particularly not surprised by your very brilliant and scholarly submissions and delivery that are laced with passion for a new Nigeria.

Truly, you have, among others, provided yet another bastion for national fortification, cohesion just as you have laid a fresher path to unity in our land. Your treatise is nothing but the Document of Hope for a better tomorrow. But we are more than

convinced, hopeful, full of confidence, and enthused beyond doubts that our today desires the contents of your lecture for a better tomorrow because our yesterday ignored it. Without necessarily repeating the contents of your Document of Hope, I am not inclined to joining the incurable pacifists who have found no comfort in a fading National Consciousness. Our National Consciousness is being attacked on a daily basis. This is a great national pain. Rather than our ntion, Nigerians are more inclined to ethnic nationalism.”

Insecurity, according to Akeredolu is the most potent threat to national belief. “We have allowed a sustained, non-beneficial stagnation for too long in our approach, the consequences are increasingly becoming more daring. The time to act is now, not tomorrow. As leaders, the choices we make create the path to our desires.

We cannot pretend that all is well when indeed, more things are going wrong.”

Citing an example of the approach adopted by the South-western states, the Ondo Governor who is the Chairman of the Forum of South-west Governors explained that it “is not targeted at any ethnic nationality or business. But we are against criminality and we shall fight criminality with every legal means. It is in the interest of our collective wellbeing.

All we require is the support and understanding of all federating units, including the Federal Government. The simple truth is that we have lived in self-denial amid an excruciating pain that is almost cancerous now. Notwithstanding our challenges today, my firm belief in the Nigerian Project is strengthened by my own fact of a true Nigerian. That I desire a more united Nigeria with every ingredient of freedom, rule of law, patriotism, love, mutual respect and harmony is an understatement. And I am prepared to fight for it legitimately for the benefit of all.”

Akeredolu expressed happiness at the presence of the Chairman, National Caretaker and Extraordinary Convention Planning Committee of the All Progressives Congress (APC), the Governor of Yobe State, His Excellency, Mai Mala Buni. Your Excellency and other vLued guests. He assured everyone that “these disturbing moments are surmountable if only we can be patriotic and courageous enough to confront them through the lens of dynamism.”

L-R: MD/CEO of Median Infrastructure Development Company Limited Engr. Olumide Akinsanya, Governor of Akwa Ibom State, Mr. Udom Emmanuel, Wife of the Akwa Ibom State Governor, Dr. Martha Udom Emmanuel on a tour of the Tropicana Mall in Uyo after its grand opening

L-R: British High Commissioner to Nigeria, Catriona Laing,Speaker, House of Representatives Rep. Femi Gbajabiamila and Rep. Nwauba Henry after a meeting between the Speaker and British High Commissioner at the National Assembly

Ekiti State Governor, Dr Kayode Fayemi consoling Mrs Omolola Olawunmi, widow of Flight Sergeant Olasunkanmi Olawunmi, one of the victims of Sunday’s Air Force plane crash, in Ado-Ekiti

T H I S D AY ˾ ͰͲ˜ ͰͮͰͯ

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FEATURES

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

Engaging the Media in Canvassing for Protection of Civilians During Conflict To enhance, improve and strengthen the media reportage on Human Rights, Protection of Civilians and Civilian Harm Mitigation in various theatre of operations, the Civil Society Legislative Advocacy Centre with the support from Open Society Initiative for West Africa, recently held a media training on Protection of Civilians and Civilian Harm mitigation in Nigeria, Chiemelie Ezeobi reports

CISLAC Program Manager, Mr. Salaudeen Hashim flanked by media participants at the civilian protection training

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ccording to reports, 40 operations launched by the Armed Forces in the last five years has largely increased militarisation of the civil space, which further threatens civilian protection and dwarfs equal opportunities. In such conflict situation, tens of thousands of civilians suffer loss of life and grave injury, especially when it deals with insecurity.

Presently in Nigeria, about 2.5 million people are displaced and 10 million people are in need of humanitarian assistance.

This is where Protection of Civilians (PoC) is important. Protection for the civilian population is a basic element of humanitarian law that states that all civilians and all those not taking part in the fighting must on no account be attacked and must be spared and protected. In fact, the 1949 Geneva Conventions and their 1977 Additional Protocols contain specific rules to protect civilians.

Although the concept of protection of civilians has been progressively introduced to a wider audience, however, within the framework of conflict operations, the full implementation of this principle is hindered by a number of shortcomings, such as the limited understanding of roles and responsibilities, and the lack of clear methods and guidelines.

Thus, to underscore the urgency in achieving a policy framework for PoC, the Civil Society Legislative Advocacy Centre (CISLAC) with the support from Open Society Initiative for West Africa (OSIWA), recently held a one-day media training on Protection of Civilians (PoC) and Civilian Harm Mitigation in Nigeria.

Objectives According to CISLAC Program Officer (Defence and Security), Bertha Ogbimi, the objectives of the training was to enhance, improve and strengthen the media reportage on Human Rights, Protection of Civilians and Civilian Harm Mitigation in various theatre of operations; enable media practitioners employ journalism principles based on impartiality, balance and responsibility while, at the same time, they (media) are conscious of need to gather adequate data on civilian threats in various theatres of operations.

has further deepened trust deficit between the citizens (state and non-state) and security institutions – Amotekun now caught in the web of extra-judicial killings and torture.

Noting that the serum is Protection of Civilian and Civilian Harm Mitigation and it lies with the ability to establish respect (local cultural sensitivities), establish community liaison, apply gender dynamics, adaption strategies – rules of engagement and the use of force, Hashim, while clarifying the concept why it’s difficult to protect civilians, noted that the principle of distinction (civilian and combatant) was borne out of perceived failure to discern (2018 ICRC report Rules of restraint in war) culture of socialisation; state centric focus on regime and not citizens (protectors and perpetrators) and lack of accountability in designing and administering protection of civilian and Executive Director, Civil Society Legislative Advocacy Centre (CISLAC), Auwal Ibrahim CISLAC Program Manager, Mr. Salaudeen civilian harm mitigation.

Given the principle of precaution and Musa Rafsanjani Hashim destruction, he noted that given the zero Africa continent and if Nigeria begins interest of security agents, there is need to legislate and begin to design in-house to tame reflationary power of discretion, Civilian Harm During Conflicts Civilian harm during conflicts can come mechanism that works, it will help de- while under legal compliance, he posited in form of death, injury, property loss velop Civilian Harm Mitigation (CHM) for cure relational defect given that law can cure relational deficit and impose (homes, businesses, livestock), civilian infrastructure. infrastructure damage (schools, hospitals, He said: “Because we are pushing for sanction for non compliance. water treatment facilities), loss of livelihood legislation, it becomes imperative to engage Why a PoC-CHM Regime? and psychological trauma. with the media, so that they can actually Expatiating on the PoC- Civilian Harm The causes are often when civilians are take this forward as a medium to begin caught in between crossfire, when they to influence decision makers in terms of Mitigation (CHM) regime, Hashim noted that providing adequate protection is a live in proximity to military targets, use how they go forward from here.” of force at checkpoints and during raids, He held that since PoC is new, his daunting task that needs the closest use of indirect fire in populated areas, organisation felt that the media ought possible coordination to be effective.

He said: “Stakeholders have a role to use of inappropriate weapon systems, to be brought into the conversation and targeting errors or mistaken identity on allow them to understand the concept as play on civilian casualties. It is vital that the basis of faulty intelligence and lack well as get deeper into the ingredients their knowledge and contributions are of preparation for civilian presence on that the law should actually begin to be factored into our discussion of protection issues. There is often a lack of clarity the battlefield. advocated for.

Essentially, even when principles of “PoC is new, so if Nigeria goes on to and common understanding about PoC IHL are rigorously applied, harm to put that policy framework in place, it and how to achieve it. Civilians are civilians may nevertheless occur as a becomes the first in the whole of Africa the people most at risk during armed direct consequence of the use of force. to do so. And I think that those within conflict, and military as well as other “This ‘incidental harm’ while not illegal the regime and corridors of power will armed non state actors operations have must be minimised, investigated, and want their name to go down well in faced significant challenges in protecting civilian populations effectively appropriately addressed by security history.”

“In some situations, security forces forces,” Hashim declared.

According to him, one of the reasons why POC is so important in various plan, prepare, and conduct operations Protection of Civilians theatre is because of the horrendous specifically to protect civilians. In others, According to Hashim, Protection of consequences conflicts have on civilians, they support the protection of civilians with Civilians (PoC) is new in the whole of adding that the venom of civilian harm offensive, defensive, and stability activities

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FEATURES

Infographics on Civilian Protection

to have access to documents, such as the POC policy, to ensure actors incorporate the protection of civilians into legal documents for necessary action. This will largely strengthen parliamentary oversight on the activities of the Armed Forces with protection of civilian optics.

that may primarily be conducted for other purposes besides civilian protection.”

Protection of Civilians in International Humanitarian Law Speaking on protection of civilians in International Human Law (IHL) and law of armed conflict, Hashim noted that the foundational basis for protection is the application of national law Section 43-45 CFRN 1999 which ensures that the International Human Rights Law (IHRL) is applicable all times either in peace and conflict times; foundation for civilians receiving protection from their government and other actors; and violators should be prosecuted.

Essentially, IHL is the baseline to regulate legal behavior for armed forces during armed conflict and ensures constant care to spare civilians from harm.

The fundamentals of IHL provides room for accountability given that during operations, it ensures that civilians are distinguished from combatants, feasible precautions and proportional use of force are taken.

Engaging the Media The media over the years have been globally acknowledged as the watch dog of the society and their information/ monitoring roles considered a sine qua non for democracy and good governance.

The role of the media in creating awareness and changing narratives cannot be overemphasised; a factor CISLAC cannot overlook, thus, its recent engagement of the media in its campaign to get legislation that would enhance protection of civilians in crisis periods.

The group opined that since human rights are key to protection, there is a vital need for effective monitoring, reporting, and investigation of human rights abuses in the field, just as it stressed that the media has a role to play in advocating for a legal framework on the issue of PoC and Civilian Harm Mitigation.

According to CISLAC Program Manager (Defence and Security), Mr. Salaudeen Hashim, who acknowledged the challenges facing the media, he said the media is a reflection of every larger society and of course, every sector and profession in this country has got its own challenge.

He added “We cannot ignore the successes the media has recorded over the years. Post-independent Nigeria, the media has been very strategic and has come thus far, and I think that is not arguable and I think they’ve indeed provided a whole lot of contribution in terms or national development.

“I think the media has a whole lot to play in terms of influencing and advocating for a legislation on Protection of Civilians and that is why we believe in using different of their own contacts to push this conversation going forward.”

On the need for the media, he said they are needed to - understand the notion of protection and relational defect in conflict situation- seeing protection from an obligation/mandate to protect rather than from a moral perspective; highlight gaps and risks associated physical protection of civilian, human right violation with more emphasis on the use of non lethal means such as rape, hunger, force, lack of access to relief, health, freedom; also understand that the state are the primary agents of

protectors and perpetrators – increased belligerent behaviours; enhance state capacity for human security over the concept regime security we only a law can cure the defect – oversight, sanction, and compliance.

Coordination by TWG To coordinate all these, the importance of Technical Working Group (TWG) comes to bear. The TWG are a wide range of actors involved in POC-CHM and since each actor deals with protection in different way – legal framework, civilian threat (risk) assessment, negotiators, operational, public and mission wide information sharing, oversight and planning, data gathering and monitoring, they effectively coordinate more to understand the inter-related roles of implementing the POC-CHM regime They also cooperate across functions as an important pre-requisite for good protection work; take action to protect civilians, which should be planned in consultation with stakeholders with a view to empowering them and supporting the mechanism by taking ownership; and at the same time, create a robust platform for political advocacy to give birth to a framework on POC-CHM. Earlier Collaborations Meanwhile, as part of earlier collaborations last year December, CISLAC sought partnership with the National Human Rights Commission (NHRC) on Civilian Protection Policy. CISLAC led by its Executive Director, Auwal Musa Rafsanjani, made this call during an advocacy visit to the NHRC, which was aimed to secure the partnership of the NHRC, to agree on a right-based approach to protect civilians and engage a framework on civilian harm mitigation.

“Providing adequate protection is a daunting task,” Mr Rafsanjani said. “It is a task that needs the closest possible coordination to be effective. The parliament has an oversight role to play on civilian casualties. It is vital that their knowledge and contributions are factored into discussion of protection issues”, he added.

CISLAC, with support from Open Society Initiative for West Africa, OSIWA, has been mobilising champions within government, military, and civil society to advance policies and practices that minimise civilian harm. Going beyond rhetorics, CISLAC in conflict-ridden loca-

tions is deeply engaged with communities in several LGAs to help civilians develop self-protection strategies.

This is one of many collaborations with the Nigerian government to develop a national civilian protection legislation that put civilians at the heart of counterinsurgency operations in the country.

In light of this, the team from CISLAC also paid a visit to the House Committee Chair on Army, Hon. Adulrazak Sa’ad Namdas under the auspices of the project “Strengthening Capacity, Advocacy and Local Engagement on Protection of Civilian and Civilian Harm Mitigation Legislation in Nigeria”, supported by OSIWA. According to Rafsanjani, CISLAC believes that parties to armed conflict have a responsibility to prevent civilian harm, adding that CISLAC does this by assessing the causes of civilian harm in conflicts, craft practical solutions to address that harm and advocate for the adoption of practices that can improve the well-being of civilians caught in conflict.

Recognising the power of collaboration, he said CISLAC with support from OSIWA engage with civilians, governments, militaries, and international and regional institutions to identify and institutionalise strengthened protections for civilians in conflict.

“There is often a lack of clarity and common understanding about PoC and how to achieve it. Civilians are the people most at risk during armed conflict, and military operations have faced significant challenges in protecting civilian populations effectively,” Rafsanjani added.

Parliamentary Oversight In fact, there have been incidences in the past where military operations led to the death of civilians, such that the 8thAssembly had to set up a committee to look into the situation and investigate whether concepts of operations in various theatres were keeping up with the rules of engagement, or if it was an issue of negligence. But credit-wise, the 9thAssembly has remained the most responsive to civilian harm and are working tirelessly to ensure the causality rate of civilians during military operations is brought to a minimal level with a framework that is consistent and harmonised with contents already available prior to its emergence in 2016.

According to CISLAC, the POC policy provides an entry points, hence the need

Journey to PoC Advocacy According to CISLAC, the journey of advocating for the adoption of the POC policy started in 2016, and has gone through several layers of review engagements and consultations with diverse stakeholders, including the Office of the Attorney General of the Federation, international organisations, civil society organisations, security agencies, the Inter-Ministerial Committee on the North East, and the diplomatic community.

As at now, they noted that the NHRC and the Minister of Justice are currently championing the policy.

In a communique issued last year

by CISLAC in conjunction with Center for Civilians in Conflict (CIVIC) at the Parliamentary Interface on PoC and CHM in Nigeria ruminated why the policy seem to have stalled. In their observations, the group noted that providing adequate protection is a daunting task that needs the closest possible coordination to be effective.

Stressing that the parliament has an oversight role to play on civilian casualties, the meeting resolved that the Security Committee Chairmen will popularise, own, and sponsor a bill on Protection of Civilians using the content of the POC policy as a guide to ensure consistency with its intent, sustainability, and support from both internal and external stakeholders; the legislation on the Protection of Civilians will be a priority agenda item for the relevant defence and security committees considering that it saves the nation huge resources in various theatres, improves civil-military relations, and strengthens trust between security agencies and citizens – which leads to intelligence-led security.

They further noted that there should be continuous dialogue with security agencies using the POC policy as an instrument to ensure the lives of civilians are protected during operations in compliance with human rights standards. This can be achieved through timely adoption of the policy and possible accompanying legislation on POC; there should be more inter-agency and ministerial coordination around the protection of civilians, and it should be given national attention considering the increased number of fatalities recorded by civilians over the enforcement of the COVID-19 protocols. All national security agencies should prioritise protection of civilians and endeavor to minimise the negative effect of conflict on civilians.

Essentially, they posited that the curve of fatalities and insecurity can be flattened if adequate mechanisms are adopted within a protection framework, which inspires safe spaces within operations of the military. This will largely influence internal military practice, doctrine, regulations, and engagements.

By and large, there is need for all stakeholders to be deeply engaged with communities in conflict-ridden locations to help civilians develop self-protection strategies.

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WEDNESDAY FEBRUARY 24, 2021 •T H I S D AY

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BUSINESSWORLD

Group Business Editor Obinna Chima Email obinna.chima@thisdaylive.com 08152447875

ͯ ͷ ˜ Ͱ ͮ Ͱ ͯ MONEY MARKET OVERNIGHT OBB

REPO 20.50 20

CALL 1-MONTH 3-MONTH

18 18 21

S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE

563.13% - 0.32% - 5.55%

S & P INDEX 1/4 TO DATE YEAR TO DATE

- 15.98% - 15.98%

EXCHANGE RATE N379/1US DOLLAR* ̩

Quick Takes WIEN, REAN Host Women in Energy

LEADERSHIP RETREAT

L-R: Former Director General, NIMASA, Dr. Dakuku Peterside; Director General, Standards Organisation of Nigeria (SON), Mallam Farouk Salim, and former Director General, SON, Joseph Odumodu, during a leadership retreat in Calabar…recently

West African Unique Banking Identification Underway Dike Onwuamaeze The immediate past Director General of the West African Monetary Institute (WAMI), Dr. Ngozi Egbuna, has disclosed that the institute is collaborating with the African Development Bank (AfDB) and the African Export Import Bank (Afreximbank) to create mechanisms that would improve economic and financial integration of West African subregion and also provide strong platform for effective functioning of the Africa Continental Free Trade Area (AfCFTA) agreement.

These mechanism includes the bid to create a single unique banking identification system for the entire West African Monetary Zone that would be modeled after the Nigeria’s Biometric Verification Number, which tracks every bank customer’s activities within the country’s banking system.

Egbuna, revealed this during an interview on AriseXchange, a programme monitored on Arise

ECONOMY News Channel, a sister company of the THISDAY newspaper.

She explained: “We have also applied for funding, which we hope to receive, to enable us create unique bank identification like the Nigeria’s BVN for the sub-region.

The whole idea is that once you are ‘Ngozi Egbuna’ here, you are ‘Ngozi Egbuna’ throughout the ECOWAS sub-region so that one cannot be ‘Ngozi Egbuna’ here and ‘Egbuna Ngozi’ there.

“You have to be identified uniquely, which is a sort of knowing who is who within the sub-region. It is a fantastic project that the AfDB is going to give us funding for.”

She also stated that the payment platform the institute was developing in conjunction with the Afreximbank would enable participants under the AfCFTA to buy and pay for goods and services from any African country in their respective local currencies.

This would relieve participants the trouble of looking for third party currency to pay for their transactions, conserve foreign reserves, resolve the corresponding banking issues and formalise the informal cross border trading activities.

Egbuna added: “We thought that the way to go is quoting and trading in our local currencies and approached the Afreximbank, which incidentally was looking to do that type of business.

“The Afreximbank took us on as the pilot zone to put up the payment system platform that will enable the common people on the street to quote and trade in their local currencies.

“By the special grace of God it will go live at the end of March 2021 and when it becomes realistic will be spread out across Africa.

Incidentally the African Union has taken it onboard because they know how important payment and settlement is.”

She described the journey toward the financial integra-

tion and attainment of a single monetary zone for the sub-region as a work in progress although it has failed to achieve two previous deadlines for its take off. The first two deadlines were 2005 and 2009, while the 2015 deadline was overtaken by the ECOWAS’s directive in 2014 that enjoined the institute to focus on the single currency agenda of the sub-region.

However, the institute has gone far in the area of financial integration, especially with the issue of capital market integration.

It has also gone as far as, “setting up bank and non-bank’s supervisors as well as a college for the insurance sector operators so that we exchange information and from time to time to know what is new and what is going on in the financial scene.”

“We also have the financial stability report that we publish which shows you the activities of the financial industry and the Continued on page 24

‘Policy Harmonisation Needed to Stabilise Market’ Goddy Egene As the equities market continues to slide, a stockbroker, Mr. Rotimi Fakayejo, has said that harmonisation of policies among regulators in the financial sector was needed as a long-term solution to achieve stability.

After gaining N8 trillion in 2020 and N1.1 trillion in January 2021, the stock market has suffered persistent decline since February. The sudden bearish trend despite impressive dividends declaration by some companies, has been attributed to profit-taking and uptick in yields in money market instru-

CAPITAL MARKET ments.

For instance, in December 90-day, 180-day, 360-day Open Market Operations (OMO) bills were at 0.3 per cent, 0.5 per cent and 1.03 per cent respectively.

However, these rates have jumped to 7.5 per cent, 8.5 per cent and 10 per cent in that order in February, a development that is attracting investors back to the fixed income market and partly contributing to the bearish equities market.

Speaking on the development, Fakayejo said if there was harmonisation of policies

among the regulators, sudden change in market directions and instability would not happen.

The stockbroker therefore called for harmonisation of policies.

He explained that foreign portfolio investors, who played a major role in the past by stabilising the market, would not return soon following the instability of the exchange rate.

“There is no portfolio investor who will bring in dollar at the present rate and since they usually play short-term and in the next one year exchange the dollar for about N500. They won’t want to do that. So if you see a situation the exchange is stable,

then we can see an influx of foreign investors. But as much that(stable exchange rate) is not in place, we going to see them stay back and even not considering this economy at all for now,” he Fakayejo said.

Speaking on the rise in the yield environment, the Chief Executive Officer (CEO) of Blackstone Capital Limited, Dr. Lizzie Kings-Wali, said: “Whilst the rising inflationary pressure may not shift Central Bank of Nigeria’s (CBN) appetite for a low rate environment, aimed at stimulating credit to the Continued on page 24

The Women in Energy Network (WIEN) in collaboration with the Renewable Energy Association of Nigeria (REAN) have concluded plan to host the International Women in Energy symposium with the theme: ‘Light Up Africa.’

The programme, a virtual symposium, is scheduled to hold on March 13,2020,aspartofactivitiestomarkthisyear’sInternationalWomen’s Day (IWD).

Speaking to journalist via a virtual platform recently, the Publicity Director, WIEN, Charlotte Essiet and the Head of Communications, REAN,ChiomaOme,saidtheprogrammewouldbringtogetherwomen in energy across Africa. This, they said would yield initiatives that would extend their footprint to new frontiers and increase women’s talent contribution to light up Africa.

The President of WIEN, Ms. Funmi Ogbue, said celebrating IWD, in partnership with REAN, would bring together the women in energy across Africa to collaborate on a S.M.A.R.T gender inclusion action plan, signing a charter to commit to the action items within a certain timeline.“We are kicking-off a week long activities, starting up with the Light Up Africa with women pledge.

“Leveragingonthe2021globalIWDtheme,theorganiserswillencourage CEOs of key companies and government officials in Nigeria to do a photo supporting IWD theme and post on their social media handles using #Lightupafrica#chosetochallenge#.

“Stakeholders will be asked to choose from a couple of key themes presented by the organisers to make public commitments to drive positive change and monitor progress towards gender equality in the energy industry and a gender equal Africa.”

Another initiative WIEN will be embarking on, Ogbue noted, would be the ‘Supernova girl’ initiative to encourage and motivate young girls to study related subjects and aspire to come into the energy industry, adding that it plans to embark on school visits to enlighten them on the importance of STEM and why the girl child should join the energy space and light up Africa.

CRC Credit Bureau Wins Award

CRC Credit Bureau Limited (CRC) has been named the Best Credit Bureau in Nigeria by Capital Finance International (CFI.co), a print journal and online resource reporting on business, economics and finance with its headquarters in London.

The CFI.co judging panel stated in their report that, “CRC Credit Bureau helps lenders make informed decisions with a nationwide repositoryofconsumerandcorporatecreditinformationthatcovers more than 95 per cent of the domestic credit industry.”

Thereportstated:“CRChasweatheredCOVID-19withsteelyresolve, achievingreturnsonparwithexpectationsandisanticipatingcontinued improvement. “The Bureau is grateful for lessons learned in 2020 and for the impetus to propel its digital transformation. It now serves clients more through digital channels, which has created greater market access.

“CRC has become more data focused with the ability to add value in multiple segments and drive markets with better products and stronger analytics.”The report showcased CRC’s mission to make every individual living in Nigeria stay on top of their credit history through their various products/services and digital platforms that make access to credit information easier than ever.

Huawei Records Slight Growth

Chinese telecom equipment maker, Huawei Technologies, which is struggling under United States sanctions saw slight growth in its annual performance, helped by significant levels of confidence from its customers.

Huawei was confronted with, “extraordinary difficulties” last year, though operations were relatively stable, with partners continuing to support the company, rotating Chairman Ken Hu said at the Mobile World Congress on Tuesday.

According to Bloomberg, the telecom equipment maker was put on an export blacklist by former US President DonaldTrump in 2019 and barred from accessing critical technology of US origin, affecting the company’s ability to design its own chips and source components from outside vendors.

“Strategic partnership with AAAM will facilitate the implementation of the Bank’s Automotive programme which aims to catalyse the development of the automotive industry in Africa as the continent commences trade under the African Continental Free Trade Area”, President of Afreximbank,

Prof. Benedict Oramah

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BUSINESSWORLD WEST AFRICAN UNIQUE BANKING IDENTIFICATION UNDERWAY financial sector at any given time.

“Moreover, in 2012 the AfDB gave us funding on grant to develop payment infrastructure in four of our countries, namely Gambia, Guinea, Liberia and Sierra Leone. That was to bring them up to the online real time settlement system that we have in all the other countries. And so every country as at December 2016 went live that is why we can have cheques and POS in all of our countries. We put in modern state of art facilities in all these countries,” she said.

The former director general said the institute was enjoying the support of the governors of central banks who are mirroring and seeing what is going on and have even extended the payment window to operate in the T24 and other payment system architecture within the central banks.

“It is going on well and once it goes on live it will be a game changer for the AfCFTA and trades within the continent,” she said.

‘POLICY HARMONISATION NEEDED TO STABILISE MARKET’

private sector and mobilising capital formation at reasonable cost, the perennial challenge of weakening naira is a major domino variable that often compromise the stance of the CBN and broader Monetary Policy Committee (MPC) in transiting Nigeria to a sustainably low rate environment.”

According to her, the CBN may be stuck between a rock and a hard surface, advising that the naira should be allowed to depreciate naturally and find an equilibrium in a guided liberal market, whilst the CBN pursue a sustainably low interest rate to reduce the cost of capital.

“Notwithstanding the inflationary implications of this position, maintaining a low cost of capital for all economic units - government, businesses, and household, is sine qua non for inclusive and sustainable growth of the Nigerian economy,” Kings-Wali said.

Group Business Editor

Obinna Chima

Capital Market Editor

Goddy Egene

Comms/e-Business Editor

Emma Okonji Asst. Editor, Money Market Nume Ekeghe Senior Correspondent

ËÒÏÏ× ÕÓØÑÌÙÖß (Advertising) Correspondents

Chinedu Eze (Aviation) ÜÙ×ÙÝÏÖÏ ÌÓÙÎßØ (Maritime) James Emejo (Finance) Ebere Nwoji (Insurance) Chineme Okafor (Energy) Emmanuel Addeh (Energy) Reporters

ÙÝË ÖÏÕÒßÙÑÓÏ (ICT) Peter Uzoho (Energy)

NEWS

FG, Lawmakers Urged Not to Politicise PIB Okon Bassey in Uyo The federal government and members of the National Assembly have been urged to handle the grey areas in the Petroleum Industry Bill (PIB) without politicising the issues.

Former Minister of Lands, Housing and Urban Development, Chief Nduese Essien who made the call recently, while speaking with journalists in Uyo, stressed that the interests of oil producing states in the Niger Delta region should be highly protected in the bill.

He identified major grey areas in the bill to be addressed to include the review of oil bloc allocation, payment of gas flare penalty and the strict definition of the status of host communities among others.

He insisted that without the federal government and National Assembly addressing the areas, the essence of the PIB would be defeated.

According to him, the bill if not properly handled might create confusion and hamper its implementation.

Essien, decried a situation where most of the oil blocs are owned by persons from non-oil producing states whereas those from oil bearing communities have not benefited.

The former House of Representatives member from Akwa Ibom State regretted that there’s no issue about the bill vesting the ownership and management of petroleum resources on the federal government.

He noted that such provision to vest ownership and management on the federal government came into being at the peak of the civil war as a stop gap measures.

Essien regretted that successive governments after the war bestowed the ownership and management of petroleum resources almost exclusively on people from non-oil producing communities and top military brass as well as their cronies.

“I have taken a look at the PIB, the first thing that caught my attention was the very first sentence which states the property and ownership of petroleum within Nigeria and its territorial waters, continental shelves and exclusive economic zones is vested in the government of the federal republic of Nigeria “There is no problem with this as the intention was to spread the resources to all parts of Nigeria.

This provision actually came into being at the peak of the Nigeria civil war, to pull resources at the time for the execution of the civil war.

“But by the end of the civil

war successive military governments bestowed the ownership and management of petroleum resources almost exclusively on people from non-oil producing areas through the allocation of oil blocs.”

He added: “The oil blocs went to top people in military and civilians who were connected with the military.

“The people so bestowed did not have the technical nor financial competence as it was a technical knockout attained through the possession of political authority.

“These people invited technical partners with financial resources to exploit the petroleum and cart away the benefits without consideration for the host communities,” Essien lamented He observed that such ownership which had existed for a long time had misled people into believing that they are the real

owners of petroleum, positing that the PIB would not make any meaning if it does not address the ownership issue and get the people who bear the brunt of environmental hazards involved in petroleum exploitation process.

On the issue of the host community status Essien said the bill should clearly state whether a host Community is a village, a community, local government or state This, he said becomes necessary because some state governors have usurped the benefits of the host communities and appropriated those benefits for the entire state thereby worsening the status of such communities.

“The PIB should come out with a clear definition of host community. Failure to specify who the host community is, will merely create confusion and hamper the implementation of the bill,” Essien further advised.

He further stated that the bill should also address the issue of gas flaring penalty payment, saying it’s an absurd that the payment was not specifically targeted at the host communities who bear the brunt of years of environmental hazards and pollutions on daily basis.

“You can imagine that the oil companies that are exploiting the petroleum resources do so with gas flaring occurring in the area of production, then the companies are penalised to pay for gas flaring and such penalty is shared to everybody in Nigeria. This is the most absurd situation.

“What’s the justification for making it to be shared to all parts? So PIB should look into such areas and be able to address the inconveniences and the causes of disaffection that has always let to disruptions and the rest of it.” Essien declared.

NAICOM Expresses Concern over Growing Offshore Reinsurance Ebere Nwoji The Commissioner for Insurance, Mr. Sunday Thomas has expressed concern that indigenous insurance firms are fast losing underwriting businesses in oil, gas and aviation sectors.

This, he attributed to lack of appropriate technology.

Thomas, therefore advised insurance underwriting firms operating in Nigeria, to invest significantly in technology to propel their operations in the industry.

Thomas, who spoke at a recent insurance conference in Lagos, said the industry must as a matter of priority invest significantly in technology so

as to make meaningful impact in the industry.

The NAICOM boss, lamented the declining participation of local insurance firms in big ticket businesses due to lack of appropriate technology, adding that, “the market must emulate technology to move forward.”

Apparently worried by this development, he said, “insurance companies are losing underwriting businesses in oil, gas and aviation sectors.”

“The industry must invest handsomely in technology which is one of our key drivers for developing the market.

“Institutions should be prepared to digitalise their processes, procedures and

systems in order to make their operation seamless and real time,” he added.

The NAICOM boss stated that the Commission was investing heavily in automating its processes and expects nothing less from insurance institutions.

“As business owners and as businesses spring up, we must ensure that we put the right processes in place in trying to manage our assets and ensure that we have more strategic thinking,” he added.

Thomas, noted that more businesses were being reinsured abroad, thereby further eroding the capacity of the local market.

“More businesses especially

in the aviation sector and oil and gas are now being reinsured abroad.

“Of more concern is the declining participation of life companies in the annuity business which is the emerging business for our industry.

“These are the areas where the industry can impose itself on the economy through the control of funds for national development; unfortunately, we are missing it,” he said.

The Commissioner further advised members of the insuring public not to discard insurance as part of measures to cut cost in the face of the harsh economic situation.

He said: “It is good to reduce

cost but in terms of insurance, people should ensure that all assets are adequately insured.

“It is good to have a good risk management framework as well as be able to manage our insurances and assets.

“Many are left with the option of cutting cost, however, not all cost cutting will measure success and some might even end up hurting our businesses.”

Thomas, however, said the insurance industry has proven its relevance in the affairs of the economy.

“Risk is part of our business endeavors and the best thing is to evaluate and see what part of the risk you can transfer,” he said.

NDPR Has Demystified Refining in Nigeria, Says DPR The Department of Petroleum Resources (DPR) has said an indigenous oil company, the Niger Delta Petroleum Resources Limited (NDPR), has demystified local refining of petroleum products.

This is as the regulator urged Nigerians to invest in the downstream oil and gas sector to boost crude oil production capacity of the country.

Director of DPR, Auwal Sarki, spoke to journalists at Ogbele community in Ahoada-East local government area of Rivers State shortly after an inspection by DPR team of ongoing expansion work of Ogbele Refinery operated by

NDPR, recently.

The DPR team, accompanied by top officials of the NDPR, also visited the Ogbele oil and gas well-heads, flow station and power station.

Sarki stated that with the success story of the Ogbele Refinery, there are hopes that it would no longer be difficult for Nigerian refineries to be brought back to work or their production capacity improved.

He added: “The essence of this visit is to confirm the capacity of a Nigerian company to be a fully integrated oil and gas company.

“We came here, observed and confirmed that NDPR is fully

integrated oil and gas company; from well-head to crude oil and gas production, to crude oil and gas processing and refining, to distribution and marketing.

“These confirmed that the country is ready and we have a company that has made the difference but has become gamechangers in the business. We are delighted.”

He added: “Currently, the capacity of this company is 11,000 barrels per day and we see the potentials for it to be increased.

This is just to say that the issue of refining in Nigeria had been demystified.

“If can have this capacity,

refine this capacity and produce the products, then there is not something difficult to bring back the refineries to work or improve the existing capacity.

“The NDPR started with 1,000 barrels per day capacity, it increased with 5,000 and additional 5,000. Who knows?

“This has the potentials to game-change the entire products supply in the country because the volume the produce will provide a lot of security especially in terms of diesel and other essential products that we consume.”

Sarki said Nigeria could attain self-sufficiency in gas processing and refining, create wealth and

value and strengthen production security.

He said the DPR would offer required license to investors in the oil sector, adding that DPR’s interest “is to see money from royalty not from penalty to guarantee business and open opportunity”.

“The private sector should invest in this initiative because our observation today, confirmed that this refinery is a masterpiece that has increased production of crude and other essentials.

“Starting with initial production of 1,000 barrels per day; today, they clocked 11,000 barrels per day.

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CIBN, NIBSS Introduce e-Payment Certification Programmes Hamid Ayodeji The Chartered Institute of Bankers of Nigeria (CIBN) in collaboration with Nigerian Interbank Settlement Systems Plc (NIBSS) have introduced professional certification programmes on electronic payments for financial service providers and institutions.

Both organisations disclosed that the programme was designed to enhance the electronic payment skills and knowledge of financial practitioners in order to equip them with efficient tools

and information required to upscale innovation and services.

Speaking to journalists at a media briefing in Lagos, yesterday, the Chief Executive Officer, Chartered Institute of Bankers of Nigeria, Mr. Seye Awojobi, said the initiative is an international programme, well grounded in the local realities of the Nigerian e-payment industry and captures the current dynamics, as well as aspects of digital financial services practices.

“This programme would set the standards for e-payment expertise in Nigeria; foster a

category of high performing professionals in the industry and build a resilient, safe and secured payment technology driven platform.

“The curriculum for the programme adequately covers recent methods required, which are in line with global practices.

“The introduction of the scheme cannot be more timely than now considering the COVID-19 pandemic, which created serious disruptions in our professional and personal lives,” he added.

On his part, Chief Executive

Officer, Nigerian Inter-Bank Settlement Systems Plc, Premier Oiwoh explained that the introduction of the programme would determine the capacity and work experience criteria required to recognise beginners, intermediate and advanced.

“It would create a growth roadmap for fledging e-payment workers, including the unemployed who has the desire to make a career in the electronic sector.

“Also, it would enable us continue to tackle the issue of insecurity within the financial

technology payment and banking space,” he added.

The institutions also noted that in order to maintain a certification credential, the practitioners must earn some recertification credits over a three year span and valid for three years after it has been issued.

The CIBN last week has reintroduced its mentoring scheme. The initiatives aims at up-scaling the leadership capacity and productivity of workers within the financial and banking sector.

Speaking during the virtual

forum, Director General, Securities and Exchange Commission, Lamido Yuguda, had explained that mentoring schemes are essential for the sustenance and development of the sector as it is built upon values such as trust and professionalism.

“These values can be taught. But are reinforced when practiced by the senior co-workers and emulated by junior colleagues. Such initiatives enable workers to avoid being distracted by the material, prestigious and monetary incentives the space presents.

STI Settles N13.3bn Claims in Five Years Ebere Nwoji Sovereign Trust Insurance (STI) Plc said it has in the past five years paid a total of N13.3 billion to its policyholders.

The company, in a statement said the claims were paid out between 2016 and 2020, adding that the payments underscored its strong financial ability and undeterred commitment to guarantee peace of mind to all its customers as they go about their businesses without fear on a daily basis.

The company, defined claim as a reimbursement from the insurance company when the insured has suffered a loss that is covered under an insurance, insisting that it paid a total of N13.3billion in the past five years.

Giving the breakdown of the payment, Managing Director Sovereign Trust Insurance, Olaotan Soyinka, said the breakdown of the claims showed that energy insurance ranked number one with N4.2 billion, while fire insurance came in second with N3.1 billion. In addition, motor insurance ranked third with N3.036 billion as general accident came fourth with N1.3 billion.

Also, marine was fifth on the table with N1.2 billion while construction all risk insurance (CAR & Engineering) was the sixth.

Commenting on the company’s claims history, Soyinka said: “It is in the policy of the company to pay all genuine claims promptly.

Claims payment is one of the paramount reasons for our being in business.” “We take claims payment as a priority in our company and that is why

we have remained trusted by our clientele and our broker partners who have continued to do business with us over the past years.”

He said insurance is about building trust and confidence, “and that is why customers who benefit from STI service go ahead to recommend it to other customers without our knowledge.”

He added that the company has built capacity to continually meet customers’ obligations in terms of offering quality products and settling all genuine claims promptly to the satisfaction of customers.

Soyinka said to achieve excellence in customer service, “the company has invested heavily in technology that ensures customers from any part of the world are able to file their claims, track the processing and get paid without a one- on-one encounter with STI staff.” According to him, this applies to all lines of the business, except for those that requires loss adjusters’ involvement and in some other occasions where the claims process gets complicated for some extenuating reasons.

Commenting also on the intent of the organisation as regards claims settlement, Executive Director, Technical Operations Jude Modilim, said, “the company is committed to settling genuine claims and there is no compromise to that as long as the “Ts” and the “Is” have been properly checked and certified. Genuine claims settlement in Sovereign Trust Insurance Plc is a major focus of our operations and we do not pay lip service to it.

African Alliance Pays N967m Claims in 40 Days Ebere Nworji The African Alliance Insurance said it paid a total of N967 million claims to its customers in the first 40 days of this year.

The company said this was in fulfillment of its obligations to its customers.

The Managing Director/Chief Executive Officer of the company, Joyce Ojemudia, disclosed this in a statement.

She explained: “For us at African Alliance, we are poised to continue our renewed commitment to fulfilling our stated obligations to our stakeholders.

“Paying claims as due, therefore, is non-negotiable. Indeed, the bedrock of a sustainable insurance business is a mutually beneficial arrangement where the insured and the insurer both stick to their obligations to each other without fail.”

She gave a breakdown of the payment across the company’s business lines saying, “between the first of January and now, we have paid about N148.2 million to 155 individual life customers, N307.5 million to 141 Group Life claimants, N124.1 million to 168 Takaful claimants not forgetting some N387.3 million paid to our annuitants.

“We won’t shirk our responsibilities; we have promised to

remain with our customers for life, we will not relent on our oars as we continue to excite our policyholders,” she said.

African Alliance had in the last quarter of 2020, announced payments of over N2.3 billion in claims in line with its continued drive for customer satisfaction.

Incorporated in 1960, African Alliance Insurance is one of Nigeria’s oldest and indigenous life insurer.

CAP, Portland Paints Shareholders Approve Merger Goddy Egene The plan by Chemical and Allied Products (CAP) Plc and Portland Paints and Products Nigeria (PPPN) Plc to combine their respective businesses received a major boost last week as shareholders of the two paints company have approved the merger.

The approval was given at the court-ordered meeting (COM) in Lagos, which was also hosted virtually online, which set the final phase of the merger on its concluding processes.

According to the scheme of merger approved by the shareholders, shareholders of PPPN will receive one CAP share for

every eight ordinary shares of PPPN or a cash consideration of N2.90 for every PPPN share.

The cash consideration represented 41 per cent premium on the last trading price of PPNN on October 23, 2020, being the last trading day before the announcement of the merger.

Subsequently, PPPN will be dissolved without being wound up, delisted from the NSE and its shares registration at Securities and Exchange Commission (SEC) withdrawn.

Managing Director, CAP, Mr. David Wright, said the business combination would scale up post-merger CAP from its second position in the paints industry to the first position.

He said the merger would lead to many benefits for the company and its stakeholders including expanded product offering, increased owned brand portfolio, diversified revenue base and broader distribution capabilities, all which will enhance customer satisfaction and lead to greater returns to shareholders.

Wright said the merger was a value-maximising opportunity to shareholders as well as holding out enormous opportunities for customers and other stakeholders.

According to him, the enlarged CAP will control about 15 per cent of the Nigerian paints market, the largest by any company in the highly fragmented sector while enhancing its leadership with 26

products offerings, an all-inclusive product portfolio that includes decorative, industrial, marine and protective paints as well as distribution network of 91 stores across 32 states of the federation.

The MD noted that CAP which plays in the premium and standard paints and coatings with globally recognised brands such as Dulux and Caplux, has enviable track record as a pioneer, having pioneered the colour centre concept in Nigeria in 2005, alongside other innovations.

He expressed optimism that the merger between CAP and PPPN would be concluded before the end of this quarter,

having received all preliminary regulatory approvals.

Wright added that the completion of the merger will impact substantially on the post-merger CAP with access to more capital, opportunity to invest in its human resources, a stronger balance sheet and stronger footing as a leading paints company in Africa.

He said CAP will continue to explore opportunities for future growth through different routes including internal growth drives and acquisitions, assuring that the company as well positioned to maintain its leadership.

On her part, MD of PPPN, Mrs. Bolarin Okunowo, said the company supported the merger because of the value offerings

including shareholder value creation, enlarged entity, enhanced decorative paints business and increased retail footprints.

According to her, PPPN holds a 35-year record of manufacturing and selling industrial, marine, decorative and protective paints for the construction and oil and gas industries in Nigeria, pointing out that the company’s flagship, Sandtex, is renowned for its exceptional quality for residential commercial and industrial buildings.

She said the merger would create opportunities for shareholders and stakeholders on both sides as the two companies have complementary synergies that would lead to greater returns.

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Ibadan Welcomes 4G LTE Service from 9mobile 9mobile has announced the deployment of its 4G Long Term Evolution (LTE) network to Ibadan.

According to a statement, the launch of 9mobile’s 4G service in Ibadan, the Oyo State capital, was expected to empower residents of the city to achieve more as they leverage the 4G-grade quality of internet connectivity from 9mobile.

With this development, 9mobile’s 4G LTE, which is currently available in many cities across Nigeria, would enhance the experience of using all data-powered services and apps in Ibadan and open a world of opportunities for residents of the city.

Commenting on the 4G launch, Chief Commercial Officer, 9mobile, Stjepan Udovicic, was quoted to have said with the launch of the 4G LTE service in the city, 9mobile would empower more people and businesses by enabling them to achieve their full potential through technology and superfast connectivity.

It will fuel community advancement through technology in Ibadan, he added.

“We are pleased to empower Nigerians with world-class internet connectivity, and we are excited to add the historic city of Ibadan to the growing list of cities already enjoying our 4G LTE network.

“We appreciate customers believing in us and having us as their network of choice.

We will continue to provide them with the most innovative services and world-class 4G network,” Stjepan added.

“To enjoy our brand new 4G network in the area, new customers can enjoy extra value data plans including: 2GB plus free social media at N500, valid for three days; 7GB plus free social at N1, 500 valid for seven days, and 3.5GB free data for streaming for the first 7days upon purchasing data plans of N1, 000 and above,” he added.

Speaking further on the launch, Stjepan assured Nigerians that 9mobile would continue to expand its nationwide 4G coverage while constantly building innovative ways aimed at improving the lives of Nigerians.

“We are committed to making 4G service available to more cities across the country.

9mobile is becoming Nigeria’s network of choice for effective and reliable 4G. “We will continue to support Nigerians to realise their full potentials,” he assured.

With the launch of the 4G service in Ibadan, 9mobile customers can now enjoy the most optimised wireless 4G broadband and smartphone experience anywhere in Ibadan.

Female Entrepreneurs Urge Govt to Improve Business Environment James Emejo in Abuja Female entrepreneurs under the umbrella of the NECA’s Network of Entrepreneurial Women (NNEW) have advised the federal government to enhance the current investment atmosphere in the country by removing existing impediments.

The entrepreneurs particularly appealed to the government to intervene in the issues of multiple taxation and high electricity bills which are currently constraining businesses and eroding profitability. Speaking at the February entrepreneurship forum with the theme: “Pushing through Barriers in 2021,” Chairperson of NNEW Abuja chapter, Mrs. Amina Zanna Ibrahim, also pointed out that lack of adequate funding remained a major obstacle to the growth of entrepreneurship in the country, and called on the government to save the situation. She told THISDAY that the quarterly

forum allows business women both members and non-members to network, share ideas and information and linkages as well as challenges and opportunities to help advance their businesses.

She said, among other things, that, “The association connects you to funding sources and opportunities and gives you market access where to advertise our products.

“We also collaborate with one another to achieve our business objectives. Members also get a lot of information on how to run your businesses successfully and every week we have interactive session on our WhatsApp group where we are told how to run start and grow our businesses.”

In addition, Ibrahim said the group also embarks on monthly training and provides linkages to government sources, “things that ordinarily you don’t have access to.”

She added: “And we are women helping women and it’s a very beautiful network and I encourage any business person to join. It’s a place to be.”

Also speaking at the forum, National Assistant/ Publicity Secretary, NNEW, Mrs. Ngozi Alichi, said the programme was conceptualised for the month of February to put the women who are significantly entrepreneurs, in the state of mind they all needed to be and to be able to carry through 2021.

She said: “People exited 2020 with different tales of woes because they didn’t expect COVID-19 that was a significant part of the year and here we are again.

“It might not be all rosy all the way but there’s something we can do and that is is the knowledge and understanding we have come to get here today.”

According to her, the event had resource persons talk to

participants on mental health, “because the state of the mind is very important in how far we can go in whatever we do and with all the pressure that are in the society and the woman being the primary recipient of it all, I dare say that it’s important we talk to ourselves about mental health and how we can handle it to be in the best frame of mind to succeed in 2021”.

She said: “We are also women who are minded on running our businesses very well and so we are having FIRS come to talk to us on things we need to know on taxation so that we are the good citizens that we want to be.

“So, we are raising rounded women who are going to leave a great legacy or pass on great legacy to the next generation.”

The event was organised to help women entrepreneur build alliances for exponential growth and be mentally prepared for great success in 2021.

Oilserv Founder Finances Road Construction, Donates N4m to Church Peter Uzoho The Founder and Chairman of Oilserv Group, Mr. Emeka Okwuosa has donated a road he financed the construction as well as N4 million cash gift to the All Saints Cathedral Church, Onitsha, Anambra State as part of his philanthropy.

The long stretch road which connects the cathedral and the bishop court was named Sir Emeka Okwuosa Drive, in appreciation of Okwuosa’s contribution to the church and its environs including sponsoring the building of the road.

The Okwuosa Drive was among the newly-completed projects at the church which were all inaugurated recently.

Speaking at the occasion, the Executive Director, Sir Emeka Okwuosa Foundation, Mr. Azuka Okwuosa, said the gesture was to fulfil his principal’s avowed partnership with the church to ensure its growth.

He said Okwuosa had not looked back in his philanthropic gestures in the areas of helping the less privileged in society, adding that the foundation had been engaged in exposing the unemployed to skill acquisition and provision of healthcare delivery system.

The executive director who personally donated N1 million in support of his boss, stated that over the years, the foundation has been at the forefront of touching lives through provision of basic amenities to communities and scholarship schemes.

He stated that the foundation would continue to be supportive of the activities of the church and play a leading role in the Anglican Communion.

“We are here to appreciate this address by the Primate of the Church of Nigeria, nothing will pledge or donate here will be enough.

“We are all Christians, the only message that really touched my heart here is in the area of one dying of the sake of Christ.

“The foundation will continue to play a leading role particularly in the Anglican Communion, the Church of Nigeria as a whole and the body of Christ,” Okwuosa said.

Last year, at the hit of the adverse effect of the COVID-19 pandemic, the foundation donated food items and medical supplies to communities in three states in the country to help cushion the effect of the pandemic-induced lockdowns.

During the period, the Foundation had delivered thousands of bags of rice and tons of yam tubers to a number of communities in Rivers, Abia and Anambra States as it toured selected communities across the country with food palliatives for families impacted by the lockdown.

The Oilserv Group and Sir Emeka Okwuosa Foundation had declared that it became necessary to rise in support of the government and the Nigerian National Petroleum Corporation (NNPC) in the collective effort to contain the spread of the disease and also palliate the impact on Nigerians.

FBNInsurance, Firm Launch Health Insurance Product Ebere Nworji FBNInsurance, and a member of the SANLAM group, said it is partnering Collinson, a global leader in travel, international health insurance and assistance solutions to launch SmartHealth International, an international health insurance product for critical medical conditions.

The companies said they would through the partnership programme address the health insurance gap in the Nigerian market.

The two firms noted that the SmartHealth International would deliver a suite of new affordable health insurance products aimed at Nigerian employers desirous of protecting and giving peace of mind to its employees and their families.

According to FBN, the product which has been approved by NAICOM, was designed to complement local healthcare cover by providing cover for treatment abroad should an employee or family member develop a critical medical condition that cannot be adequately treated in Nigeria.

FBNInsurance, said it wish to ride on its leadership position in Nigerian Life insurance market to deliver products that would help its customers enjoy the peace of mind that comes from managing the risks of everyday life through the introduction of a health insurance proposition to complements its portfolio strategy.

“With national presence in strategic geographical locations across the country, FBNInsurance will market SmartHealth International across Nigeria, whilst partnering with Collinson to leverage its in-house international insurance and assistance expertise to provide international access to an extensive network of Collinson certified medical providers,” said the Managing Director of FBNInsurance, Mr. Val Ojumah.

He said understanding the drivers for affordability, was important at a time when provision for adequate healthcare and peace of mind has never been more top of mind.

He maintained that SmartHealth International is an affordable solution for the treatment of complex and critical care treat-

ments, adding that the proposition has been designed to cater for specific critical complex medical events such as cancer and those requiring renal, orthopaedic and neurosurgery, as well as serious trauma injuries sustained in road traffic accidents. “These collectively are the primary medical conditions for which Nigerians are currently leaving the country to seek medical care abroad,” he observed.

He explained that each case would be individually case managed and assessed, working closely with attending doctors in conjunction with Collinson’s expert international medical team.

He, however, said everything depends on the level of cover purchased, but added that eligible policyholders will be flown to South Africa, India or the UK, and even North African countries, where Arabic speaking is required.

Speaking about the Launch, the FBNInsurance boss said “At FBNInsurance, one of our primary objectives is to help people, businesses and communities get back on their feet when the unexpected happens and it has never been more pertinent than now to offer

our customers more choice and peace of mind when it comes to their healthcare.

“We are delighted to be launching this proposition in partnership with Collinson.

Our teams have collaborated to develop a unique and affordable international healthcare solution that not only caters for critical medical conditions that cannot be adequately cared for in Nigeria, but also delivers innovation locally across health insurance product design,” he stated.

Also speaking, Head of Insurance at Collinson, Lawrence Watts, said “Our health and the health of our loved ones has never been more top of mind and so Collinson is proud to be partnering with FBNInsurance to give their Nigerian clients access to optimum international healthcare whilst maintaining value for money.”

He noted that at a time when the demands of even the best of healthcare systems globally are under pressure, it’s vital to provide healthcare alternatives to consumers, particularly in markets where we have identified a gap between domestic and international cover.”

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Nigerian Idol Season Six Commences in March Emma Okonji The Nigerian Idol will reopen on March 14, 2021, on DStv and GOtv, with a grand prize of N50 million, a brand new car, in addition to other prizes.

The organisers of the show, MultiChoice Nigeria, announced the Nigerian Idol season six at a virtual press conference to officially unveil plans for the season.

Nigerian Idol Season 6 will premiere on March 14, with a special airing of the most memorable and entertaining moments from the auditions, which took place late last year. The main episodes will air weekly starting Sunday, March 28.

Speaking during the conference, the Chief Customer Officer of MultiChoice Nigeria, Mr. Martin Mabutho said, “This season of Nigerian Idol is like nothing you have ever seen.

In line with our promise to always bring the best and most entertaining content to our customers, we have put together a show that we are sure will have viewers on the edge of their seats.

“Nigerian Idol is famed for producing superstars and this season, we are going even bigger, with the grand prize and with everything

else. We can’t wait to show you all we have planned.”

Africa Magic Channel Director, Wangi Mba-Uzoukwu, said: “We believe that this season, Nigerian Idol will produce a fresh crop of talent who will be well grounded to conquer both the local and global music scene.

“This year, we received over 3,600 entries and I thank our outstanding judges for painstakingly reviewing every participant to ensure we got the best from the pool of entries.”

Mba-Uzoukwu further said the company would be following strict COVID-19 guidelines and would implement the necessary safety measures including social distancing, wearing of masks and daily temperature checks for the duration of the show.

MultiChoice Nigeria had previously unveiled creative entrepreneur, Obi Asika, singer Seyi Shay and celebrity DJ Sose as the judges for the show.

The mix of judges with distinct experiences and backgrounds is one the organisers say will bring a dynamism to the show that the contestants will undoubtedly benefit from.

This season of the show will be hosted by popular media personality, IK Osakioduwa

NEPZA Urges CBN to Expedite Approval of Offshore Banking James Emejo and Folalumi Alaran in Abuja The Managing Director/ Chief Executive, Nigeria Export Processing Zones (NEPZA), Prof. Adesoji Adesugba, has called on the Central Bank of Nigeria (CBN) to fastrack approval for the establishment of offshore banking to enhance the operation of free trade zones in the country.

He emphasised the challenge of accessing foreign exchange faced by operators in the zones as a result of absence of offshore banking.

Speaking when he guided the Minister of Trade, Industry and Investment, Mr. Niyi Adebayo on an inspection tour of the Kano Free Trade Zone (KFTZ), he said although the authority was in touch with the CBN committee

saddled with the responsibility of ensuring that the off-shore banking comes to fruition, “but we are, however, soliciting the intervention of the minister for approval to be given without further delay.”

In a statement by Head, Corporate Communications, NEPZA, Mr. Martins Odeh, Adesugba said, the African Continental Free Trade Area Agreement (AFCTA) presented the country with an exceptional life line to reboot its economy.

He said there was no better time to take advantage of the lofty opportunities provided by the agreement for countries in Africa to seamlessly trade among themselves.

He added that all enterprises operating in the country’s 44 zones were being galvanised to use the trade agreement which

commenced January 1 to stay competitive and relevant.

The NEPZA boss said the visit of the minister was a clear indication that the federal government was keen on utilising the zones as a gateway to swiftly revamp the economy.

He said: “The recent approval of N35.4 billion by the federal government for the improvement of electricity infrastructure in both Kano and Calabar free trade zones remains a stride that shows President Muhammed Buhari’s confidence in the scheme’s ability to fast track the country’s industrialisation.

“The authority remains grateful to both the president and the minister for this great feat.

As can be seen, the Kano FTZ remains viable in spite of the power challenge.”

On his part, however, the

minister described the Kano free trade zone as one of the flagships of the country’s economic zones scheme, adding that NEPZA had done a lot to keep the operations in the zone going.

Adebayo said the authority must be supported to carry out its mandate effectively.

He added that the federal government was committed to repositioning the scheme to make the zones attractive, more profitable and competitive in order to maximally draw from the benefits accruable from the AFCTA. On the planned concession of the Kano and Calablar zones, the minister urged investors and operators in the two public zones not to fret, adding that their interests would be protected during the negotiation of both deals.

Jaiz Bank Unveils Hajj Savings Scheme in Northeast, Others James Emejo and Folalumi Alaran in Abuja Jaiz Bank Plc has launched the National Hajj Savings Scheme in the North-east and South-eastern parts of the country.

The scheme seeks to make it easier for all Muslims in Nigeria to go to Saudi Arabia to perform one of the pillars of Islam, the Hajj.

Speaking during the launch, the bank’s Managing Director/Chief Executive, Mr. Hassan Usman, described the initiative as a significant milestone for all stakeholders in the hajj ecosystem in the country.

Represented by the bank’s Divisional Head, Corporate Services, Ismaila Adamu, the MD said the importance of the scheme emanated from the fact that right “from planning, funding to actual operations, the scheme has the potentials to positively affect every act and actor in the process.”

He said: “With such a scheme in place, intending pilgrims that do not have the wherewithal can gradually plan and actualise their dream without stress by saving gradually.”

In a statement, Usman added that even those who do not live long enough to complete their savings might still in, “Allah’s infinite mercy receive the reward for hajj because they are pilgrims by bringing intention (niyyat) and action (amal) together.”

Jaiz Bank and the National Hajj Commission of Nigeria (NAHCON) in collaboration with the Muslim Pilgrims Welfare Board of the respective regions had recently flagged off the sensitisation and awareness campaign for the programmein Adamawa, Taraba and Ebonyi States, respectively.

The ongoing launch and sensitisation of HSS had already been flagged off in parts of the Northcentral, Northwest, Southwest and Southsouth.

Chairman of National Hajj Commission of Nigeria, Zikrullah Kunle Hassan, who earlier flagged-off the launch in Abakaliki, Ebonyi, Taraba and Adamawa States, thanked the governments of the respective states for buying into the scheme.

He said HSS has several benefits amongst which is to assist the less privilege to save money overtime to go to hajj and also to earn profit on their savings.

According to him: “You don’t have to sell your farmland to go to hajj as the scheme will make hajj fare affordable.”

Also, Chairman, Ebonyi State Muslim Pilgrims Welfare Board, the launch of HSS was significant as it will make it easier for Muslims to go to Hajj.

“You dont have to sell your items to go to Hajj.

Ebonyi has fully integrated into the scheme and ready to work with NAHCON,” he said.

Tripple Gee’s Nine-month Profit Soars by 205% Goddy Egene Tripple Gee & Company Plc, a manufacturer of financial instruments, secure and commercial documents, defied the challenging operating environment to record an improved financial performance for the nine months ended December 30, 2020.

The firm reported revenue of N1.544 billion for the period, up from N1.01 billion in 2019.

This led to an operating profit of N131.7 million, compared with N32.869 million in the corresponding period of 2019. Profit before tax grew from N35.481 million to N109.020 million, indicating a jump of 207 per cent. Similarly, profit after tax jumped by 205 per cent to N76.314 million from N24.997 million.

The performance was a good development for the shareholders of the company who are likely to get dividend at the end of the financial year to March 31, 2021.

The Chairman of Tripple Gee & Company Plc, Mr. Sam Ayininoula, had last September assured shareholders of its continuation to diversify and expand its business for improved performance and return on investment.

Ayininuola, who spoke at the 30th annual general meeting (AGM) held in Lagos, had noted that Tripple Gee had put in place

measures to ensure the continuity of its business operations without compromising the safety of the work force and clients.

“The company will continue to pursue its diversification and expansion of business plans even as we keep a close watch on the industry both locally and globally.

“With the advent of the COVID -19 Pandemic a new normal has been created in business environment and this has necessitated a re-think of processes by industry players that will not only survive but emerge stronger thereafter,” he said.

Ayininuola said since Mrs. Adebimpe Giwa, was appointed the managing director (MD), she had been taking several giant steps which had impacted positively on the business of the company.

“Her tenacity and doggedness in marketing and management are highly commendable,” he said.

Speaking, the MD said the despite the present challenging operating environment, the company had a very bright prospects given the expansion plans being embarked upon.

According to her, the company will introduce 3D printing with the objective of revolutionising the packaging business for the manufacturing world.

DBN to Celebrate International Women’s Day The Development Bank of Nigeria (DBN) has announced that it is joining the world in amplifying the voice and advocating for gender equality and the rights of women in Nigeria and all over the world by hosting an event to celebrate this cause.

According to a statement, the celebration which would be held on March 8, will reveal the social, economic, cultural, and political achievements of women in different spheres of human endeavor. Therefore, in line with this year’s theme, “Choose to Challenge,” participants would draw attention to issues of gender parity and the difference individuals can make in making the world a better place for all.

“To this end, accomplished women professionals across various spheres of human callings like Mojolaoluwa Aderemi Makinde, the Head, Brand, and Marketing of Sub Saharan Africa Google; Layla Othman C.E.O L & N Kitchen and Interiors; Nkem Okocha, Andrew Alli CEO South Bridge and Amina Oyagbola Founder WISCAR together With Funke Okpeke, MD/CEO of IT a renowned Company, MainOne as Keynote Speakers, will share their wealth of experience and

the challenges that they have to deal with to brace it to top,” the statement added.

Topics such as: The Cost of Exclusion, Challenging Gender Stereotypes and Promoting Inclusive Growth; “Inclusivity of Women; Gaining Grounds or Whitewashing; Taking a Precursory look at Gender Politics in the Workplace and Society,” amongst others will be discussed extensively.

International Women’s Day is a global event celebrating the social, economic, cultural, and political achievements of women. The event also marks a call to action for accelerating gender parity. It is usually celebrated worldwide with groups coming together to recognise and celebrate women’s achievements and their resilience.

The DBN reiterated its commitment to continue to lend its voice to gender equality and empowerment.

Excited about the event, the Managing Director/CEO of the Bank, Tony Okpanachi, was quoted to have said: “Women have proven over the years how resourceful and dependable they can be, and in some cases have paid the ultimate price for the good of others.

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BUSINESSWORLD

PERSPECTIVE

Analysing Financial Accountability Trends at FMBN John Terhemen Ikyaave

Generally, in the business world, financial statements are important because they provide a snapshot of an institution’s status at a particular point in time, giving insight into its performance, the status of the business, debt position, and result of its operations, cash flow, and overall conditions. Essentially, shareholders need this information to make informed decisions about their equity investments.

This also applies to the FMBN as a publicly owned housing development finance institution.

The bank’s shareholders – the Federal Government of Nigeria (FGN), which holds a 50 per cent shareholding valued at N2.5 billion; the Central Bank of Nigeria (CBN), which holds a 30 per cent shareholding valued at N1.5 billion and the Nigeria Social Insurance Trust Fund (NSITF) with a 20 per cent shareholding stake valued at N1 billion need to be kept abreast of facts regarding the bank’s operations in order to make decisions on its future.

No where is this information critical than the drive by the FMBN Management for the N500 billion recapitalisation of the bank.

While housing industry stakeholders including FMBN owners generally agree that the current N5 billion capital base of the FMBN is grossly insufficient for an apex mortgage institution and gives it little financial roots to leverage funding to drive its affordable housing delivery mandate, the financial books are a critical foundation as a basis for acting. And it is promising that the FMBN Management understands the necessity to tidy up its finances as a prerequisite for doubling the pressure on government to act.

As a development finance institution with the mandate to seek for funds from the capital markets – local and abroad – potential FMBN partners and investors also require this information as a baseline for their decisions – to invest or not to engage.

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igeria’s Financial Regulation stipulates that government agencies must prepare and submit their annual audited accounts and management reports to the Auditor General of the Federation (AuGF) not later than 31st May, of the following year.

When chief executives of public institutions prioritise accountability and transparency in the management of public assets in compliance with regulatory provisions, they do not only help to build stakeholder-wide trust, they also engender growth and spur national development.

In a recent report by the former Auditor General for the Federation (AuGF), Anthony Ayine, 65 agencies have never submitted audited accounts since they were set up; 76 others last submitted theirs in 2010; 51 bodies complied with the requirements for 2016; and only 149 audited statements for the 2015 financial year were submitted in 2017.

The perennial breach of financial rules, which are designed to foster public trust in the handling of public funds, by government agencies is a serious and worrisome practice that deserves concerted efforts by all relevant stakeholders to tackle.

But those with the biggest responsibility of fixing this problem are the Chief Executives of these agencies and their management teams.

Truth be told, some of them inherited years of unaudited accounts from their predecessors.

The problem is that instead of working hard to clear the backlog and bring their financial positions up to date, many have done little to correct the anomaly and are rather piling up more and more years of unaudited accounts.

This is not acceptable and should not be allowed to continue.

The fact that this breach of financial rules has made several headlines recently, owing to the increasing oversight and engagement of Chief Executives of these public institutions by the National Assembly, demonstrates to a refreshing degree the seriousness with which stakeholders are treating the matter and the justified public outrage.

The FMBN as an Outlier in Accountability However, it is important to note that there are some outliers. Some agencies have taken remarkable steps to clear the backlog of their financial statements and are on course to bring their books up to date as required by the financial regulations.

A good example is the Federal Mortgage Bank of Nigeria (FMBN).

Like many other public institutions, FMBN has had its fair share of periods where for years the bank failed to comply with financial regulations.

In fact, as of April 2017, when the current management team that is led by Ahmed Musa Dangiwa came on board, the bank’s financial statements for the period 2013 to 2016 were outstanding. Those who ran the nation’s apex mortgage bank during this period failed in their statutory duty of ensuring that they rendered annual audited accounts to the regulatory authorities as required by law.

What has set FMBN apart from other public institutions with similar histories of inherited unaudited accounts rests on the prompt and positive action that it took early on to fix the problem. In what can be termed a good contrast, the new FMBN Management recognised the importance of complying with the financial regulations and set-in motion an institutional machinery towards clearing the backlog not long after it came on board. This was the right and proper thing to do.

Public analysts, stakeholders in the housing industry and those who monitor closely recent developments at the FMBN attest to the new direction of transparency and accountability at the FMBN. It is most likely on the back of this confidence that the bank was quick to issue a public rebuttal to some news reports that misconstrued what transpired when Dangiwa made a presentation to the House Committee on Public Accounts.

Some of the news stories had inaccurately reported that FMBN has five-years of unaudited accounts and wrongly claimed that the House Committee “chided” FMBN over the unaudited accounts.

In the rebuttal, which was published as an

Dangiwa advertorial in about three papers, the FMBN had boldly called out the reports as wrong and inaccurate. The bank proceeded to explain that the management had upon resumption of office in 2017, set up a Financial Accounts Taskforce with the mandate to clear the four-year backlog, which it inherited, to ensure that the bank’s financials are brought up to date as part of a strategic turnaround plan for the FMBN. The statement further added that between 2017 to date, FMBN financial statements for the period 2013 – 2018, have been prepared, approved by the Board, and submitted to all regulatory authorities as stipulated by law including the office of the Auditor General of the Federation and the Central Bank of Nigeria It also added that the financial statement for the year 2019, has already been approved

by FMBN Board and was being signed-off for submission to CBN for approval and other regulatory authorities, while it has already commenced the preparation of the audit of 2020 Financial Statements, which are statutorily

The automation of financial reporting would help to improve audit readiness, promote reliable consolidation of financial statements, team sharing and optimised collaborations, electronic review and monitoring while ensuring transparency and credibility of financial data. The entire process of preparing accounts becomes faster and reports can be generated instantly at the click of a button

due for submission by May this year.

It is also important to state that contrary to the insinuation that the members of the House Committee on Public Accounts “chided” FMBN, the members of the panel actually commended the current management for the remarkable progress that it has recorded in updating the bank’s financials.

Furthermore, it stated that contrary to the insinuation that the members of the House Committee on Public Accounts “chided” FMBN, the members of the panel actually commended the current management for the remarkable progress that it has recorded in updating the bank’s financials.

That FMBN could come out with such a strong rebuttal, without fear of being put on the spot by the quoted regulatory authorities, proves that the bank has indeed done its work.

This is more so, when the public is yet to see any of such authoritative responses from other agencies that have been mentioned publicly for non-compliance to the fiscal rules.

FMBN’s new management style, its proactive approach to transparency and accountability and confidence in responding to public inquiry about its management of public finances is not only historic, but also exemplary and deserves commendation.

Firstly, the Dangiwa-led management team has cleared the 4-year backlog of unaudited accounts for the period 2013 – 2016, signaling a sharp break from the past.

Secondly, under its time in office, the team has demonstrated a willingness for financial accountability by preparing and submitting its financial accounts for the 2017 and 2018, to regulatory authorities, while that for 2019 is already approved and awaiting sign off. With work already started on the 2020 financial, FMBN now appears set to have up to date financial statements within this year.

Financial Accounts as a Business Growth Necessity It is refreshing to note that the new FMBN Management Team acknowledges the business imperative of having up to date financial statements, moved with speed to correct the past and has now succeeded in re-setting standards for the bank’s financial accounting going forward.

Other agencies should take a cue from the bank and step up.

New FMBN Core Banking Platform The recent approval by the Federal Executive Council (FEC) for the FMBN to procure and deploy a Core Banking Software to drive its operations is yet another positive development in this regard. The implementation of the software will modernise the bank’s operations, digitize financial reporting, and help to consolidate ongoing efforts by the Dangiwa-led management to bolster transparency in the bank’s operations.

The implementation of the banking system would be significant and far reaching. Once operational, it would help the FMBN to create an integrated technology-driven platform to activate its operations.

On the back of the digital service provisioning eco-system, the bank would then tackle the many systemic challenges that it has had to contend with over the years due to the largely manual nature of its operations.

Top on the list is fixing the longstanding inability of the Bank to update, in real-time, subscribers’ monthly contributions to the National Housing Fund (NHF) Scheme. Second is that the system would help to redress is the time it takes for subscribers to access credit from the bank and in the process upgrading the overall customer experience of NHF subscribers.

Of particular note is the FinTrak Finance Module. Once implemented it will aid the bank to keep proper records of its financial transaction of payments and receipts, general ledger, etc that will provide the base for financial reporting.

The automation of financial reporting would help to improve audit readiness, promote reliable consolidation of financial statements, team sharing and optimized collaborations, electronic review and monitoring while ensuring transparency and credibility of financial data. The entire process of preparing accounts becomes faster and reports can be generated instantly at the click of a button.

In conclusion, while the public angst against agencies that are not in compliance with Nigeria’s financial rules is justified, care must be taken to isolate and commend outstanding chief executives that are making a difference. The Arc. Dangiwa led Management Team at the FMBN have done a remarkable job and are deserving of applause. t*LZBBWF JT B IPVTJOH QPMJDZ BOBMZTU CBTFE JO "CVKB $POUBDU &NBJM IPVTJOHUPEBZ!HNBJM DPN

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Goldman Raises Q3 Oil Price Forecast to $75bpd Emmanuel Addeh in Abuja with agency report Goldman Sachs Commodities Research has raised by $10 its Brent crude oil price forecasts for the second and third quarters of 2021, citing lower expected inventories, higher marginal costs to restart upstream activity and speculative inflows.

The Wall Street bank expects Brent prices to reach $70 per barrel in the second quarter from the $60 it predicted previously and to $75 in the third quarter from $65 earlier.

“We believe this faster rebalancing during what was expected to be the dark days of winter will be followed by a

Aquatic Foods to Drive Healthy Diets, Experts Say Oluchi Chibuzor A new policy brief on ‘Harnessing aquaculture for healthy diets’ by the Global Panel on Agriculture and Food Systems for Nutrition (GLOPAN) —with research contributions from WorldFish— has been launched, with experts highlighting the critical role of aquatic foods in responding to the global call to action for a sustainable and resilient transformation of global food systems.

They noted that fish and other aquatic foods are among the most traded food commodities globally. The value of aquatic food production—through aquaculture alone—was $264 billion in 2018. The fastest growing agricultural sub-sector, its global production was projected to reach 105 million tons per year by 2029.

A report at the end of the forum showed that aquaculture has potential to accelerate economic growth, provide employment opportunities, improve food security, and deliver an environmentally sustainable source of good nutrition for millions of people, especially in low- and middle-income countries.

If managed sustainably, aquaculture could provide a viable means to support capture fisheries alongside more sustainable practices and help reduce our reliance on terrestrial protein sources.

It further noted that aquatic foods are a rich source of protein, omega-3 fatty acids, and micronutrients.

“Their production through aquaculture is key to support the provision of healthy diets for many who lack access to nutritious foods. For many people living in low and middle-income countries, aquatic foods are already the most accessible and affordable animal-source food.

Compared to other animal source foods, they offer multiple nutritional benefits and are produced at a lower environmental cost,” the experts added.

WorldFish Director General Dr. Gareth Johnstone said, “Aquatic foods offer a critical solution for the two billion people worldwide who suffer the triple burden of malnutrition, with women and children poised to benefit most.

widening deficit this spring as demand rebounds faster than supply, setting the stage for a tight physical market,” Goldman said in a note.

Reuters quoted the bank as saying that it now expects global oil demand to reach 100 million barrels per day (bpd) by late July 2021 versus its previous expectation of August 2021.

Oil prices rose on Monday as the slow return of U.S. crude output that was cut by frigid conditions raised concerns about supply just as demand rebounds.

Goldman expects the freeze in Texas to lead to a 1.5 million bpd global deficit this month and cut output by 0.2 million bpd

in March due to infrastructure damage and missed completions.

An agreement to hike production by the Organisation of the Petroleum Exporting Countries (OPEC) and its allies in the upcoming March meeting will not be bearish for prices as supply is set to lag, Goldman said.

It expects a 0.5 million bpd increase in quotas in April, with Saudi Arabia reversing its unilateral 1 million bpd cut, and continues to expect moderate exports from Iran this year.

“The key uncertainty for now is at which price level producers finally ramp-up activity... we are raising our marginal cost assumption by $5 per barrel to $60 per barrel Brent for the

remainder of 2021,” it added.

Meanwhile oil prices rose yesterday as the slow return of U.S. crude output cut by frigid conditions served as a reminder of the tight supply situation, just as demand recovers from the depths of the COVID-19 pandemic.

Brent crude was up 51 cents, or 0.8 per cent, at $63.42 a barrel by 0945 GMT, after gaining nearly 1 per cent last week. U.S. oil rose 45 cents, or 0.8 per cent, to $59.69 a barrel, having fallen 0.4 per cent last week.

Abnormally cold weather in Texas and the Plains states forced the shutdown of up to 4 million barrels per day (bpd) of crude production along with

21 billion cubic feet of natural gas output, analysts estimated.

Oilfield crews will probably take several days to de-ice valves, restart systems and begin oil and gas output. U.S. Gulf Coast refiners are assessing damage and may take up to three weeks to restore most of their operations, analysts said, though hampered by low water pressure, gas and power losses.

“With three-quarters of fracking crews standing down, the likelihood of a fast resumption is low,” ANZ Research said in a note.

For the first time since November, U.S. drilling companies cut the number of oil rigs operating

due to the cold and snow enveloping Texas, New Mexico and other energy-producing centres.

OPEC+ oil producers are set to meet on March 4, with sources saying the group is likely to ease curbs on supply after April given a recovery in prices, although any increase in output will likely be modest given lingering uncertainty over the pandemic.

“Saudi Arabia is eager to pursue yet higher prices in order to cover its social break-even expenses at around $80 a barrel while Russia is strongly focused on unwinding current cuts and getting back to normal production,” said SEB chief commodity analyst Bjarne Schieldrop.

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EDUCATION AAUA: Tackling the Burden of Truck Accidents The Adekunle Ajasin University, Akungba Akoko (AAUA), Ondo State, had been overburdened by auto accidents in the university community. Stakeholders in the community explained to James Sowole why all hands must be on deck to avert future occurrence

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major feature when approaching entrance of higher institutiions in Nigeria, that are sited along highways, are speed breakers of different shapes and sizes. Initially, speed breakers, are usually erected at both ends of the road few metres to the main entrance, but more are added as concentration of students increases around the school areas as many of them, live in private hostels, built around such areas.

The speed breakers are erected to force motorists to drive at a very slow speed, to allow pedestrians comprising students, staff and other members of the public to gain access into the school premises through the main gate, while driving or walking.

These speed breakers are responsible for traffic congestions spanning for as long as 100 metres on daily basis as one approaches school from both end of the highway, depending on the time of the day and events, being hosted by the institution.

In some cases however, the erection of the speed breakers, do not presupposes total absence of auto accident near schools’ gates due to the topography and wideness of the road when motorists are approaching the school areas. Another cause of the accidents, which in number of cases result in fatality, is the nature of existing structures like markets and commercial properties, around the school areas.

These two reasons on a number of times, are responsible for auto mishaps, involving articulated trucks at Akungba Akoko Community, which hosts the Ondo State-owned Adekunle Ajasin University, Akungba Akoko (AAUA), in Akoko South West Local Government. Whenever there is an accident, reactions from students’ community, in most cases, always lead to closure of schools and consequent disruption of academic calendar.

In the last five months, the university town, has recorded no fewer than three accidents involving articulated trucks and which had claimed almost 20 lives including that of students of AAUA. On December 11, 2020, two trucks collided and went up in flames in front of the AAUA main entrance killing two persons, while the latest one happened on January 23, 2021, opposite the school gate, few days after the students resumed for examination, following a long break occasioned

by COVID-19 and strike by Academic Staff Union of Universities (ASUU).

Prior to the two accidents, the driver of a rice- laden truck on October 30, 2020, lost control and rammed into the market at Ibaka area of the university town, killing about nine persons while several others, were injured just as properties worth millions of naira , were destroyed.

The January 23, 2021, accident that killed many people, including some AAUA students, happened in similar manner as the driver of a trailer, labelled Dangote Cement, coming from Obajana in Kogi State and descending the notorious Okerigbo Hill from Ikare end of the road, lost control due to break failure and rammed into shops opposite the school.

According to the Ondo State Sector Command of the Federal Road Safety Corps and the state command of the Nigeria Police, no fewer than nine persons including some students, lost their lives while several people were injured in the accident. However, it was gathered that the death toll increased later.

In the latest accident , it was a pathetic moment for the AAUA community, the Akungba Akoko community and the families and friends of those who lost their lives in the unfortunate incident, particularly the students who just resumed for academic activities, after several months of staying at home.

The most pathetic part of the incident was the case of Ogini family, which lost four members to the crash; Kelvin Ogini, a graduate of Public Administration of the institution, who operated a small cyber café opposite the school to make ends meet, his brother and sister Ayokunke and Oluwaseun respectively, who were still students of the university, were reportedly crushed to death by the ill-fated cement-laden truck.

Kelvin’s siblings were said to have joined him in the shop, on the fateful day to assist him before they were crushed to death on the spot by the truck. It was gathered that the mother of the three siblings, collapsed and died immediately,

Front view of Adekunle Jason University Akungba Akoko

Scene of the accident she heard of the incident.

Apart from Ogini’s siblings, a former Student Union President of the university, Adesomoju Samuel popularly known as ‘Sampraise’ was another victim. Adesomoju, was identified at the hospital morgue by his colleagues.

The death of Adesomoju, who hailed from Okitipupa in Okitipupa Local Government Area of the state. Sampraise, as popularly called by his fellow students, was a 500 level students of Faculty of Law, who ought to have completed his studies, but for the long break caused by COVID-19 and ASUU strike.

Sequel to the recurring accidents with its attendant consequences, many stakeholders have been calling on both the federal and the state governments to find a lasting solution to the sloppy Okerigbo Hill, that often led to break failures, when trailers are descending and which was the main cause of accidents involving articulated trucks in the university town.

Being a traditional community, some people were however, of the opinion that some evil spirits were dwelling in the areas which needed to be appeased.

In line with their beliefs, some old women of the community engaged in traditional acts of spiritual cleansing of the community against evil spirits and bad luck. The aged women therefore, trooped out in their numbers holding brooms and chanting songs of ‘enough is enough’ .The women who earlier converged on the Palace of Alale of Akungba, went straight to the hilly

part of the community sweeping away diabolical spirits believed to be the cause of the continuous predicament. Some traditionalists, also approached the palace for permission to appease the gods of the land for spiritual cleansing.

Equally, Christian and Muslim faithfuls in the town held several sessions of prayers and fasting, with the belief that “the demons behind the rampant accidents”, would be curbed.

However, some people believed that it was the topography of the road and recklessness of the truck drivers and faulty condition of the trucks that usually caused the problem and there was a need for the government to redesign and reconstruct the road to save lives of the people.

One of the survivors of the fatal crash, who identified himself as Adekunle Ademola, explained that he survived the accident by a miracle . The 27-year-old business man explained that the trailer, which was descending the sloppy road from the Ikare end towards the university gate area with full speed after losing control, faced him and he managed to maneuver to the other lane.

In spite of crossing to the other side of the road, Ademola stated that the truck still crushed his jeep.

According to him, “some occupants in my vehicle, were removed from the wreckage after the windscreen was broken by sympathisers.”

He however, said he came out of the badly damaged vehicle unhurt.

Also, a pathetic story was narrated by 23-year-old Miss Anuoluwa Olorunfemi, who lost her mother,

Mrs Caroline Olorunfemi to the accident. She said her late mother, who was a petty trader, narrowly escaped being a victim of the previous road crash in the area and in order to prevent being a victim in the future, she moved her stall away from the scene of the previous accident to a new place where she perceived would be safer, but it was at her new shop, that death came through the evil trailer. Bothered by the accident, the AAUA management, swung into action and took some temporary measures. The management in a circular, signed by the Acting Registrar, Mr. Opeoluwa Akinfemiwa, directed that the main gate should be closed with immediate effect advising staff and students to make use of the Sports Center gate, Guest House gate, Eastern gate and two small gates (i.e the one leading to the Works and Services Department and the one leading to the Student Union building).

As a mark of respect for the departed students, the examinations scheduled to start on January 24, 2021, was postponed.

Describing the accident as a tragedy to the host community, the management of the university and the Nigerian students at large, the Acting Vice Chancellor, Professor Olugbenga Ige, said it was painful that some students were involved and sadly, they lost their lives for coming to school to learn and be educated.

“The last one that happened, we had to constitute a committee whose recommendations we have implemented. The committee recommended that roadside trading should be banned and the community market should be relocated and it was complied with.”

While proffering a lasting solution to the incessant trailer accident, Ige said the hilly route of the community, near the Institution should be stepped down. He also suggested that heavy-duty trucks should be barred from plying the route.

The much expected, however happened on January 24, 2021, sequel to the unabated students protest. The university was closed indefinitely and all students directed to vacate the school premises immediately, thus disrupting the 2019/2020 first semester examination. As part of measures to forestall further accident involving trailers, a truck barrier was erected across the narrow road few metres to the gate of the university to prevent a thorough fare of heavy trucks along the university gate.

One month after the accident, the first semester examination, would start today, January 23.

Speaking with THISDAY, the Public Relations Officer of the institution, Mr. Victor Oluwapelumi, said measures have been put in place to ensure a hitch free examination.

According to him, the main gate will remain closed as alternative entrances identified when the latest accident newly happened, would remain in use, adding that other pedestrian entrances have also been opened, to ensure easy access of students and staff into the school premises.

Akinpelumi disclosed that as part of measures to reduce students’ influx to the roadside markets, that are usually affected in case of accidents, the university has the intention of building a mammy market within the school premises.

He said the State Governor, Mr. Oluwarotimi Akeredolu, had visited the sloppy side of the road with some persons suspected to be contractors, probably with the aim of reconstructing the portion of the road.

Meanwhile, the traditional ruler, the Alale of Akungba, Oba Isaac Ajimo, who expressed worry over the sad occurrence, confirmed several efforts of all sectors of the community in finding solution to the troubling situation, but the efforts were yet to yield any outcomes. He promised to engage the authorities and stakeholders on the matter in order to achieve the desired solution.

According to the monarch, “what is happening in Akungba is the ugly side of urbanisation without expansion. The heavy traffic inter- regional road from Lagos to Abuja that passes through the narrow road in our town and the hilly topography of our location, is mainly responsible for the incessant accidents.

“We have been engaging all stakeholders from the state government, Federal Road Safety Corps (FRSC), university community, youths and other elements in the society and we won’t relent.”

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EDUCATION

STEM: Foundation FUTO Master Plan for Medical Gives Scholarship to School Underway, As VC Decries Female Students Land Encroachment, Speculation Funmi Ogundare

Seven female students have benefitted from the Osaide for Girls in Science and Engineering Foundation scholarship award, aimed at promoting and advancing the education of young people in the area of Science Technology Engineering and Mathematics (STEM). Four were drawn from the secondary category, while three from the university.

They are; Miss Esohe Idemudia and Purity Eloghosa Edegbe of St.Maria Goretti Girls Grammar School, Franca Osaigbovo of Oba Akenzua Secondary School, Mercy Osawonyi of Imaguero Girls Secondary School, all in Benin Edo State.

Others in the university category include; a Chemical Engineering student, Miss Esther Imhande, Civil Engineering student of Jasmine Aizenosa Nosa-Ehima, as well as Hephzibah Chidimma Maduka, a postgraduate student, all from University of Benin.

Speaking during the virtual meeting to commemorate the first year anniversary of the foundation, tagged, ‘Journey So Far’, held recently, the founder, Dr.Patricia Opene-Odili recalled how it all started two years ago when the foundation discovered that a lot of girls especially in Benin were dropping out of school due to lack of funding.

“I thought and prayed about how I could reach out

and support the girls in Benin.

In 2020, we decided to fix the programme for February 14, to show love to the girls on Valentine’s day.”

In her remarks, the President of Association of Professional Women in Engineering (APWEN), Mrs. Funmilola Ojelade congratulated the recipients of the scholarship saying that the initiative is what the association has been passionate about and to impact the lives of young girls.

“This year, is the first anniversary. It was done out of love for the recipients of the award and their education, “ she said, while appealing to them to take advantage of it and be fervent in their studies.

Vice Chairman, APWEN Benin Chapter, Mrs. Queeneth Kingsley-Omoyibo thanked the founder for the opportunity given to the girls saying that their lives have been transformed.

“The girls are doing well in school. During the Covid-19, one of the beneficiaries wrote a book titled’ Irreparable Loss’, and another had gotten a Council of Registered Engineers in Nigeria (COREN) certification,” she said while advising them to continue to face their studies.

The National Technical Secretary of APWEN, Dr. Imhade Okokpujie promised that the foundation, aside paying their tuition, will also create an opportunity for their mentorship and send them literatures that would enhance their studies.

Amby Uneze in Owerri The Vice Chancellor of the Federal University of Technology, Owerri (FUTO), Professor Francis Eze has decried the activities of land speculators and encroachment among the host communities and land grabber as the reoccurring issue militating against the full development of the institution’s master plan especially as it affects the realisation of its medical school.

He said the institution had no doubt brought huge development to the host communities in terms of social change, education, capacity building, etc, adding that as an agent of change, the transformation of the host communities and their inhabitants since the relocation of the university to its permanent site in 1993, should not be disregarded.

Eze, whose five-year tenure would be coming to an end in about two months’ time, denied selling any land belonging to the

university to anybody as alleged by host communities, stressing that, “our original position is that FUTO does not have the power to cede any land to anybody.”

According to him, FUTO has a master plan and the location for the medical school is at the Avu axis. We have started putting up structures for a medical school and that is my involvement as vice chancellor. I will not allow FUTO land to be taken away by people.

There are many needs for the medical school and we are eager to pursue it to its full realisation.

On the issue of the federal government approving about 1,000 hectares to be ceded to the host communities, the VC said it was a proposal initiated by the university’s governing council which is yet to be concluded, adding that it is currently being deliberated by a committee involving the Imo State government through the state’s Commissioner for Lands, Survey

and Physical Planning, Attorney General and Commissioner for Justice, as well as FUTO to study the proposal and report back to the government.

“It is unfortunate that anybody from Imo State is against our expansion. The Governor and the Minister of State for Education are trying to assist us realise our goals. What the host communities’ attorney, Chief Sam Anokam is driving at, is his personal interest. It is the pressure from the host communities that the governing council proposed a certain part of the land to host communities.

The VC enumerated areas his administration had made in assisting the host communities including, providing cassava processing plant, construction of their roads, giving employment to them, among others.

He also described as false the allegation that FUTO VC refused to give out land to host communities as ordered by the federal government.

“There is nothing like

that. It is like a battle between darkness and light.

Yes, I have interest and that interest is to develop FUTO and project it as a place of excellence. We have not returned any inch of FUTO land to anybody. There is no committee involving the institution’s director of works and its physical planning counterpart, to give out any land to host communities.

“The land we have is not even enough, but the governing council proposed to cede about 1,000 hectares out of 4,500 hectares of FUTO land back to the host communities. That is only a proposal and not finality. No land has been given out already. We want the committee set up by the state government on the issue to conclude on the governing council’s proposal and as soon as that committee is through with her work, it will submit her report to the Governor who will eventually contact the federal government to implement on the issue,” he stated.

Gradely Inaugurates Online Virtual Learning Platform Oluchi Chibuzor In an effort aimed at bridging the gap created by the Covid-19 pandemic in the education sector, Gradely, a personalized learning platform has launched its virtual application that will provide real-time data and feedback.

The launch, is in line with necessary government education schemes in entrenching and deepening the usage of technology in Nigerian schools.

Speaking at the programme, held weekend, in Lagos, the State Commissioner of Education, Mrs. Folashade Adefisayo, noted that Covid-19 hastened what they were doing and thinking about as technology created the new normal. She said the state was totally prepared to benefit from it.

“The Virtual Learning Innovation System, which is a digital learning App produced

by Gradely Technology Innovation System, is indeed in line with the T.H.E.M.E.S Agenda of Governor Babajide Olusola Sanwo-Olu’s administration which encourages technology to be fused into the education system of the state to achieve smart digital learning.”

“Before now we have adopted technology in

teaching our pupils in Lagos State through the EkoExcel initiative of the state government, aimed at transforming teaching and learning in all government’s primary schools across the state using innovative technology devices and data driven platforms. That is where the world is going, and as we all know, it is part of the strategy of the present administration to ensure that we use education and technology to improve our welbeing in the state. We must continue to deploy technology to teach and to learn in our classrooms,” she stressed.

The firm said it would continue to seek collaborations to make the platform an engaging-user experience.

To do this, it will provide the tools, content and people that support the learning process of every student as it is their belief that with more real-time data and feedback on the learning process, teachers and schools will notice each individual’s learning gaps and fill those gaps in more efficient ways.

Emphasising on the App, the Founder and CEO, Mr. Boye Oshinuga, said the firm had been able to employ the services of certified educationists to ensure that contents meet necessary quality assessment and standards.

Recipients of Osaide for Girls in Science and Engineering Foundation scholarship award, during the first anniversary of the foundation, held in Edo State, recently

NOWA Reiterates Commitment to Boost Student’s Academic Excellence Hammed Shittu in Ilorin Naval Officers Wives Association(NOWA) has reiterated its commitment to ensure academic excellence of the students of Navy schools across the nation so that they could be a future reference point for academic attainments.

The immediate past National President of the association, Dr. Theresa Ibas made this known, recently, in Kwara State, during the official commissioning a 12- room storey building built by the association for the students of the Navy Secondary School, Offa.

She said the provision of modern facility in the area of good accommodation for students would no doubt

enhance their academic learning and boos their academic output.

She added that, there was no investment in education that is too small to boost the academic excellence of the students.

Ibas said the assocation has been working round the clock to construct modern accommodation for navy schools in the country so as to boost their academic learning.

According to her, “the acute shortage of accommodation at NOWA secondary school in Offa has motivated the association to embark on the construction of the facility in order to assist the students to have a good accommodation.”

The former president

who lauded the support of various philanthropists and other stakeholders to the association said the support has gone a long way in helping the association to achieve its numerous objectives.

While calling the spirited organisations and stakeholders- to express such support to the new president of the association, Hajia Nana Gambo, Ibas said the development would assist the association to continue to contribute more towards the growth of eduction and economic development of the nation.

She also lauded the people of Offa community for providing peaceful environment for the Navy Secondary and Nursery

Schools in the town to thrive.

She noted that, the development has continued to assist the students to learn without fear, thereby increasing their academic excellence.

Earlier, the Olofa of Offa, Oba Mufutau Gbadamosi Esuoye lauded the efforts of Navy authorities in the development of the town.

Represented by High Chief, Ojomu of Offa, Bayo Akinola said the people of Offa would continue to partner with stakeholders that would move the town forward and would not relent in its efforts to support the school so as to move the education of the students forward.

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T H I S D AY ˾ FEBRUARY 24, 2021

EDUCATION

Fedpoly, Bauchi Collaborates with ATBU, Matriculate 240 Students Segun Awofadeji in Bauchi The Federal Polytechnic, Bauchi, has formally commenced running degree programme in collaboration with the Abubakar Tafawa Balewa University (ATBU), Bauchi, with the matriculation of 240 students.

Speaking at the programme, held recently, the Rector of the polytechnic, Sanusi Gumau, described the matriculation as historic being the first of its kind in the institution’s 42 years academic sojourn, adding that the 240 students were admitted in its Schools of Engineering Technology and Environmental Technology.

“For the first time we are witnessing our first set of degree students, spread across our Schools of Engineering Technology and Environmental Technology, in affiliation with the prestigious Abubakar Tafawa Balewa University, Bauchi, being matriculated.

“This is like a dream come true. When I assumed office as the sixth substantive rector of the polytechnic, I nursed the idea of expanding our tentacles in line with the fulfillment of our mission of achieving global

competitiveness in technological training, through the provision of capable human resources, infrastructural facilities and participate in national and international linkages.

“Words will always fail me in acknowledging the big-brother role the ATBU played and is still playing in fast tracking the processes leading to the successful realisation of our affiliation with it. “ He thanked the management of the ATBU, while assuring that the polytechnic will fulfill its part of the bargain.

“The polytechnic is up to the task as it is equipped with adequate equipment, manpower and laboratories which are the prerequisites for training degree students. They came to this conclusion following the comments and submissions of the resource verification team from the National Universities Commission (NUC), “Gumau stressed.

He said that the new Polytechnic Act empowered the institution to provide full and part-time courses of instruction and training to produce not only middle level but also high level manpower in technology, applied science, commerce, management

and other fields that are relevant to the country’s development.

The Vice Chancellor of ATBU, Professor Muhammad Abdulazeez, said the university had no cause to be disappointed in the collaboration with the polytechnic.

Represented by Professor Mansur Malumfashi, Professor Abdulazeez declared that students matriculation was a cardinal requirement for qualifying any admitted student as a bonafide member of a university or indeed any tertiary institution.

“As the tradition demands, we are here today to perform this pre requisite function in order to formally admit you into the main stream of Abubakar Tafawa Balewa University community.

Let me, therefore, congratulate you for this special opportunity. You can only appreciate the special chance you have when you consider the great number of qualified persons like you who are unable to secure admission and get registered into a university.

He, however, warned that the university has zero tolerance for social vices and would, therefore, not hesitate to deal decisively with any students or group of students found wanting.

In another development, no fewer that 63 students of Abubakar Tafawa Balewa University (ATBU), Bauchi, have benefitted from the Federal Government scholarship , aimed at ensuring that that they complete their academic programme.

The Vice Chancellor, Professor Muhammadu Ahmad AbdulAzeez, who received the scholarship award letters on behalf of the students, recently, in his office at the Gubi Campus, commended the Federal Ministry of Education for the gesture, saying it would greatly help indigent students who make the list.

He assured them that the university would organise an orientation seminar for the beneficiaries on how best to utilize the money given to them.

The Director/Secretary of Scholarship Board, Federal Ministry of Education, Mrs Ndajiwo Asta Hamma Joda, commended the staff and students for putting in their best and urged them to do more.

Joda whonspoke through the Executive officer one of the Ministry, Mallam Chiroma Mohammed, explained that 70 ATBU students won the award in the 2018 competition.

L-R: Public Relations Manager, Tolaram Group, Omotayo Abiodun; Director, Kings and Queenies Zenith Schools, Mr. Adetona Kingsley Omobolaji; winner of Kellogg’s Superstars Scholarship 2.0, Felix Sarah; Special Adviser to the Speaker on Budget and Finance, Mr. Lukman Oyewole Lawal and Marketing Manager, Kellogg’s, Mr. Darlington Igabali during the presentation of cash award to the winners of Kellogg’s superstars in Lagos...recently PHOTO: SUNDAY ADIGUN

KEHINDE OMORU www.kayomoru.com

After the Horse is Bolted...

Coronavirus is presently not trotting, it is in a bolt. However, the good thing is that it is no longer quite a runaway horse. Rather, it is galloping on a saddler’s harness albeit at moderate speed indeed.

By pure happenstance, it is a daily privilege to go by a country stable for the singular reason that you get to see live at least one horse ridden past.

These horses are breathtakingly majestic in their gait, yet obedient to the directions of their riders big and small. With the harness and the voice, they wait for cars to drive past, then pick up their swagger, pace or saunter, and move on.

So by way of taking stock, as we have now moved past the anniversary of the first worldwide COVID-19 lockdown, I have a sense that we are beginning to have and somewhat hold the reins of this deadly virus and illness. But of course this ‘have and hold’ is as relative to the individual as it is to the point and place you are at in time as you read me.

In the past few months of having the privilege to administer the SARS-CoV-2 Antigen Rapid Qualitative Test to people and myself, every detail has been quite an experience. Although I acknowledge the greater risks to being closer to asymptomatic persons, testing has been a blessing in the way it has enabled me to develop all forms of pertinent skills, clinical as well as interpersonal, in this testing exercise.

On the other hand, and I feel more importantly, it has enabled the first hand experience of being invited into the varied thoughts and emotions of people towards this pandemic. We are indeed all only human after all! Not a race I have interacted with is: unafraid of; prepared for; unruffled by or undaunted by COVID-19.

People have come in expressing their different spiritual takes on the ‘pandemicness’ of SARS-Cov-2 and the COVID-19 infection. This reminds me of a famous Nigerian-literature figure ‘Brother Jero’. I can assure you, as I continue to hear it that, there is a general consensus within brothers’ and sisters’ Jero across different religious grounds that - The Eternal God is at work, spelling out His Pre-Eminence, in order to, according to the voices of my testers: ‘reclaim His world’, ‘re-align human minds to essentials’ and ‘release fresh knowledge to tackle the appearance of emerging pathogens. Dis one no be sprawling House of God matter any longer.

One thought-provoking allusion Hugh who is originally from Jamaica made, sticks to my mind - ‘The Eternal God now seeks to make man’s heart his place of residence. ‘If it were not so’, he justified, ‘why are the sprawling halls of worships empty for over a year now and God is seemingly nonplussed about its wasting?’

But not quite, God’s sanctuaries are not wasting! At least, this is my current opinion, and you are free to agree or disagree with me.

All around me, His children have innovated its use to demonstrate that God will live in the affairs of men who allow/invite Him to do so.

The temple curtain ripped apart when Jesus breathed His last; to reveal its setting that was erstwhile known only to the chief priests.

One such current innovation I have experienced is church being used virtually 12/7 as centre for the Pfizer-BioNTech’s Covid-19 vaccination. In fact the beauty of one of such is that with a qualified doctor on site-on shift, fresh vaccinates come into the worship hall to sit two metres apart and rest for 15 minutes, to be monitored for any form of anaphylactic reaction before exiting for their homes.

No one needs to tell you that God is there; experientially for a solid 15 minutes you feel His comforting, healing, peaceful presence. Like the Trinity IS, you feel the sense that the church at that moment is filled with: The Godhead, the Sars-COVID-2 dilemma and every day people. Yet in that 15 minutes wait He touches your COVID ridden body!

Have you invited God into that problem you’re undergoing yet?

Omoru is a freelance writer, education, health and social care advocate

Stanbic IBTC Awards Scholarship to Successful Postgraduate Programmes: UTME Candidates Edo State Varsity Uzariue Funmi Ogundare Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has awarded scholarships to successful candidates in the 2019 and 2020 University Tertiary Matriculation Examinations (UTME) conducted by Joint Admissions and Matriculation Board (JAMB).

The scholarship award worth N34.8 million, was part of the bank’s effort aimed at encouraging hardwork and academic excellence among the 87 beneficiaries who were drawn from the 36 states of the federation and the FCT. The beneficiaries comprised of 39 candidates who participated in the 2019 UTME and another 48 candidates drawn from the 2020 UTME. Brilliant but Physically challenged candidates were among them.

Speaking at the virtual presentation of the scholarship, held recently, the Chief Executive, Stanbic IBTC Holdings PLC, Dr. Demola Sogunle, noted that the prosperity of the nation and its citizens was hinged on the educational development of the youths.

He added that the bank remained determined to provide the necessary support to brilliant students.

According to him, “Stanbic IBTC appreciates the fundamental role education plays in transforming society, which is why we have chosen to institute the scholarship to encourage hard work and academic excellence among Nigerian students who desire tertiary education. The scholarship will enable them to pursue and realise their dreams of academic excellence.”

The scholarship, Sogunle

said, will be disbursed to the 87 students in yearly tranches for a period of four academic years, adding that after the first tranche, subsequent disbursements will be subject to them maintaining at least a second-class upper grade and evidence of good conduct confirmed by their institutions.

The chief executive stated that an Education Trust Funds will be set up for the beneficiaries which will be accessed through the education trust accounts.

In 2019, the bank had announced its scholarship scheme to support, reward and encourage students who had excelled in their academic pursuit.

Sogunle said the initiative was in line with its commitment to value-driven corporate social investments, designed to contribute to youth’s educational development, adding that the

programme was introduced as part of the financial institution’s 30th anniversary celebration.

The beneficiaries thanked the bank for its the gesture. A beneficiary, Master Omogbolahan Hammed-Saruk Omogbolaha who spoke on behalf of the beneficiaries, said the scholarship would allow them focus on their education, while assuring that they would continue to strive for academic excellence to justify their selection.

Education has remained a key focus area for Stanbic IBTC. The bank has continued to play a leading role in transforming lives through education. Other scholarship initiatives organised by the financial institution include those awarded to indigent children who have suffered limb losses, under its signature CSI initiative tagged ‘Together4ALimb’.

Gets NUC’s Approval Edo State University Uzairue, formerly Edo University Iyamho, has scored another academic milestone with the commencement of admission into its postgraduate programme for the 2020/2021 academic session, after securing the approval of the National Universities Commission (NUC).

The commencement of the postgraduate programme is sequel to the graduation of two sets of students and a resource verification visit to the university by the NUC in November 2020.

The management of the institution, in a statement made available to THISDAY, said it secured approval for postgraduate Diplomas, Masters and Doctors of Philosophy

in Economics, History and International Studies; and Political Science. Others are; Biochemistry, Computer Science, Microbiology and postgraduate diplomas, Masters in Accounting.

“With this, graduate students from around the country are advised to visit its website for more details and procedures to obtain the postgraduate admission form for the commencement of their programmes. The university has well-equipped laboratories/ studios, as well as conducive classrooms for teaching and learning, as well as a flexible fee payment structure for students intending to study in the Edo State University, Uzairue Postgraduate School.”

WEDNESDAY FEBRUARY 24, 2021 • T H I S D AY

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T H I S D AY ˾ ͰͲ˜ ͰͮͰͯ

CITYSTRINGS

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Ending Gas Flaring in Nigerian Communities Some communities in the Niger Delta region and others have been forced to live with the tumultuous effects of gas flaring on their health and environment. Recently, hope beckoned with the disclosure

by Minister of state for Petroleum, Mr. Timipre Sylva, that Nigeria will join the global community in achieving complete elimination of gas flaring by 2025. Chiemelie Ezeobi reports

I

n some Niger Delta communities, they often don't know the difference between day and night because of the flares from gas, which releases black soots into the sky. Over the years, the affected host communities have decried the effect of such gas flares on their environment and health.

Their fears are legitimate as constant exposure to air pollutants released by gas flaring have been linked to cancer and lung damage, as well as neurological (central and peripheral nervous system) and reproductive problems.

Effects on Environment, Humans Given that gas flaring occurs when crude oil is extracted from underground and natural gas is brought to the surface, it emits powerful climate forcers and dangerous air pollutants like black carbon, methane, and volatile organic compounds, which is dangerous to health.

These gas flares are killing crops, polluting water and damaging human health, just as it makes the weather perpetually hot for host communities.

Projections for Nigeria Given the harm gas flaring portends, Minister of state for Petroleum, Mr. Timipre Sylva, vowed that Nigeria will join the global community in achieving complete elimination of gas flaring by 2025.

Sylva made the disclosure at a public hearing on ‘Need to End Gas Flaring in Nigeria and Harness Associated Gas in Nigeria’ organised by the House of Representatives Joint Committee on Gas Resources, Environment and Climate Change.

Speaking at the hearing, the minister said the issue of gas flaring is something that the ministry takes very seriously, noting that Nigeria has however reduced gas flaring to eight per cent.

“We believe, with all the programmes lined up, that we are on course to achieve complete elimination of gas flaring by 2025. We take the issue of gas flaring in the ministry very seriously,” Sylva said.

Corroborating Sylva’s statement, the Group Managing Director (GMD) of NNPC, Mr Mele Kyari, in his presentation, revealed that the corporation is executing a number of projects to make sure that gas flare is taken out completely, adding that increasing the flaring penalty is not the solution, given that it is better to create commercial tanks that will enable companies invest in the flare which can be converted into money.

“Two things must happen: one is to put the enabling infrastructure which we are doing immensely. We are building major trunk lines that will receive the flared gas that you are seeing today. We are connecting most parts of this country to the gas network so that people can convert this gas to power industries and they are all within sight.

“Just to put it in perspective, by the end of March, we have what we will call the quarry cluster for flared gas. It makes about 200 million cups of gas. By the end of March, this will vanish because once we end connecting all the lines, automatically, it goes away. ”No matter how much penalty you put, if the cost of penalty is cheaper than developing, people will continue to flare and pay the penalty. You can raise the penalty to any number and what it does is that it will completely make the people not to invest in anything,” Kyari said.

The Chairman, Joint Committee of the House on Gas Resources, Environment and Climate Change, Hon. Mutu Nicholas, stated that Nigeria loses over $750 million in annual revenue from flared gas.

Nicholas explained that the gas that is being flared is feedstock for other industries, which if properly harnessed would stimulate economic growth, create jobs, and provide income for midstream companies and earn revenue for government through taxes.

The lawmaker lamented that efforts by Nigerian government to stop gas flaring have been inadequate and ineffective since 1979 when Nigeria made the first legislative attempt to address the problem of gas flare.

He said: ”Gas flare is a malady that we must work together to eliminate at the shortest time possible; because of its all-round adverse effects on the environment and socio-economic well-being of the people of Niger Delta region, as well as on the fiscal measures of the federal government. At current estimates

by PricewaterhouseCoopers (PwC), Nigeria

Gas flaring

Buhari

Sylva

loses over $750 million in annual revenue from flared gas. ”Zero-fiare gas deadlines have routinely shifted to future dates. We thus commend government for the 2018 Gas Flare regulation which imposes the penalty of $2.00 per million standard cubic feet (MMSCF) of gas flared.

Still, we would like to stress the need for compliance with the provisions of the penalty regime. Since the gas flare regulation was released in 2018, this committee has received reports on flare volume discrepancies.”

global flare-out by 2030 whilst committing to a national flare-out target by year 2020.

But one project that will aid the eradication of gas flaring is the Ajaokuta-Kaduna-Kano Gas Pipeline Project. The $2.8 billion gas pipeline project of President Muhammadu Buhari, it is believed will aid the ending of gas flare.

The 614km Ajaokuta-Kaduna-Kano project is expected to add 3,600MW of electricity to the grid when completed and also supply industrial clusters with constant power.

At a technical workshop last year, with the theme: “Gas Utilisation in Nigeria: Challenges, Opportunity and Outlook,” organised by Society of Petroleum Engineers (SPE), Lagos Branch, the Director of the Department of Petroleum Resources (DPR), Mr. Ladan Mordecai Lawan revealed that Nigeria had 200.79 trillion cubic feet of gas reserves. This quantity places Nigeria as a gas-producing nation because of its potential gas reserves which were more than its crude oil reserves.

Represented by the Deputy Manager, Gas Division of DPR, Mr Olawale Ogunsola, he said national gas reserves rose to 200.79 trillion cubic feet as of January 1, 2019. Giving a breakdown, he revealed that Nigeria produces daily 1.2 billion standard cubic feet (scf) with 41 per cent of the daily production exported while 48 per cent went to the domestic market, and 11 per cent was being flared.

“From this, it is obvious that the country has a gas resource in abundance. In the global ranking, Nigeria is number nine in terms of reserves. But the country’s gas production and utilisation are still low,” he said.

According to reports, the Ajaokuta–Kaduna– Kano natural gas pipeline is also designed to pave the way for the development of three-based Independent Power Plants (IPPs) in Abuja (1350MW), Kaduna (900MW) and Kano (1350MW) respectively.

AKK Pipeline will transport up to 3.5 billion cubic feet of natural gas a day from various gas gathering sites in Southern Nigeria and process at Ajaokuta will produce Liquefied Petroleum Gas (LPG) used largely for domestic cooking, while the remaining dry gas will be transported to supply feedstock for new power plants and petrochemical plants at Abuja, Kaduna and Kano.

Commitment to Change the Narrative Expressing commitment to change the narrative given the many unfruitful conversations in the past, the Speaker of the House, Hon. Femi Gbajabiamila, affirmed the 9th House’s dedication to the cause through legislative action such as bills and oversight functions.

He said: ”The conversation about gas flaring in Nigeria has been going on for a long time. Unfortunately, those conversations have not yielded the desired results. We have not managed to end the environmental damage that results from gas flaring, and we are still deprived of the economic benefits of full utilisation of gas resources in our country.

In this 9th House of Representatives, we intend to do everything we can to change this narrative.”

Host Communities The President of host communities, Chief Benjamin Tamaranebi, in his presentation, lamented that they are suffering from the emission of poisonous substances into their environment, by oil and gas industry. He further appealed to all stakeholders to be partners in progress, so as to create a win-win situation for the oil companies, government and host communities.

Flaring Reduction Project The policy position of the FG is that gas flaring is unacceptable, thus, it has initiated a number of actions to reaffirm its commitment to ending the practice of gas flaring. Specifically, the FG has ratified the Paris Climate Change Agreement, and is a signatory to the Global Gas Flaring Partnership (GGFR) principles for

This project, which is a section of the TransNigeria Gas Pipeline (TNGP), will enhance natural gas supply through pipe from the South to the North of the country. It will originate from Ajaokuta in Kogi State, traverse Abuja (FCT), Niger State, Kaduna State and terminate in Kano State and can transport about 2.2 billion cubic feet of gas daily.

The project will be linked to the EscravosLagos Pipeline System II (ELPS II) and (OB3) gas pipeline currently under construction, thus doubling the capacity to over three billion cubic feet of gas per day.

Oil and gas experts have identified reduction of flared gas, monetisation of the abundant gas resources locked up due to infrastructure deficit and increase in the use of domestic gas as some of the impacts of the project when completed.

The Department of Petroleum Resources (DPR)’s statistics shows that Nigeria has over 200 trillion standard cubic feet (Tscf) of gas reserves. This figure was as of January 2020.

Sadly, in 2018, the country flared no less than 324 billion standard cubic feet of gas, which can generate 2,500 megawatts (Mw) of power. Aside this, it can attract $3.5 billion investments in the country, according to the DPR. With the coming on stream of the AKK, these benefits can be reaped.

The project, which is a 40-inch by 614km pipeline, has capacity to transport 2.2Bcf/ of natural gas per day and will unlock the domestic market. Aside from this, it will supply gas to generate 3,600Mw of power to the national grid. It is also said to be capable of helping to revitalise over 232 industries.

In the area of job creation, the government said over one million jobs would be created; fertiliser, methanol and other gas-based industries will generate employment and facilitate balanced economic growth. It is also expected that the project will revitalise the textile industry which used to boast of over three million jobs in parts of the country.

Other moribund industries along transit towns in Kogi State, Abuja, Niger State, Kaduna State and Kano State are expected to come alive when the project is completed. Also, it will have significant job creation potential, foster the development and utilisation of local skills and manpower, technology transfer and promote local manufacturing.

Using the current Gross Domestic Product (GDP), approximately $1billion per annum will be generated and in the pipeline’s useful life of 30 years, a conservative cumulative gain to GDP of $30 billion is expected, according to government.

The project will supply gas to three Independent Power Plants (IPPs) in Abuja with combined output of 1350Mw, Kaduna (900Mw) and Kano (1350Mw). These benefits are huge by any standard. With improvement in power generation and distribution, businesses are expected to thrive and new ones are expected to come on board and take away from the pool of jobless Nigerians.

When completed in two years as planned, the country will also earn more foreign exchange given the fact that the AKK is a significant part of the ambitious pipeline project designed to supply gas to Europe through the proposed Trans Sahara Gas Pipeline (TSGO) and the Nigeria Morocco Gas Pipelines. By the time the project is integrated into these two other projects, Nigeria will earn more foreign exchange and shore up its foreign reserves, which has been depleted as a result of the sharp drop in the price of crude oil.

At the inauguration of the AKK project, Buhari urged the private sector to champion the efforts for optimal use of the nation’s gas resources, insisting that the private sector has what is required to create a petrochemical hub aimed at resurrecting the manufacturing industry and putting the country on the path of increased self-sufficiency.

According to the Independent Petroleum Marketers’ Association of Nigeria (IPMAN ) National Vice-President, Alhaji Abubakar Maigandi, well-meaning Nigerians have started taking advantage of the gas project.

“Now there are states such as Kaduna and Kano that have started constructing LPG filling stations. They are targeting the AKK plant as their source of energy. When the project gets to Kano and Kaduna, it will impact on other northern states. Normally, the transportation of gas increases the rate.

When it is being pushed down, the cost will reduce and it will lead to gas availability,” he said.

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IMAGES

L-R: Ojora of Ijora, Oba AbdulFatai Aromire; Chairman, Ajeromi-Ifelodun Local Government, Hon. Fatai Ayoola; Lagos State Governor, Mr. Babajide Sanwo-Olu and Attorney General/Commissioner for Justice, Mr. Moyosore Onigbanjo (SAN) during the ground-breaking ceremony for the rebuilding of the Magistrate Court in Council Secretariat, Ajeromi Ifelodun Local Government...recently

Photo Editor ÌÓÙÎßØ ÔËÖË Email ËÌÓÙÎßØ˛ËÔËÖË̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙ×

R-L: Commander of Eastern Fleet of the Nigerian Navy, Rear Adm. Perry Onwuzulike, wife of Chief of the Naval Staff, Hajia Isha Gambo, wife of the fromer Chief of the Naval Staff, Mrs Theresa Ekwe-Ibas and others, during the inauguration of Navy Officers’ Wives Association Secondary School at the Atimbo Barracks in Calabar... recently

Chief of Army Staff, Maj.-Gen Ibrahim Attahiru takes salute, during his visit to the special troops in Dikwa, Borno...recently

L-R: Oshimili North Local Government Chairmanship Aspirant, Hon. Innocent Esewezie; Chairman PDP Campaign council, Hon. Pat Ajudua and Commissioner for Basic and Secondary Education, Mr. Patrick Ukah, during the PDP Campaign Rally at Okpanam, Delta State...recently

L-R: Chairman, All Progressive Congress (APC) Enugu State, Dr Ben Nwoye; member, APC Enugu State Registration and Revalidation Committee, Mrs Sally-Williams Chinedu; Chieftain, APC Enugu, Mrs Ada Ogbu and representative of committee chairman, Chief Michael Ugwa, during the revalidation of members registration at Nara community, Nkanu-East LGA Enugu State...recently

L-R: Managing Director, Portland Paints and Products, Mrs. Bolarin Okunowo; Chairperson, Esosa Balogun; Shareholder Proxy, Mr. Mathew Akinlade; and the Company Secretary, Mr. Olamide Osundolire at the Portland Paints and Products Court Ordered Meeting held in Lagos...recently

L-R: Former Chairman, Iponri Housing Estate Residence Association,Surulere, Elder Moses Ojo; Chief Imam of Iponri Central Mosque, Mr Gazali Adepoju; former Secretary of the Estate, Mrs Akin Taylor; Member, Alhaji Adebule Olatunji, Immediate Past Chairman, Alhaji Kolawole Osho, and another member, Alhaji Olabule Olatunji, during the 8th Day Special Prayer for the former Governor of Lagos State, Alhaji Lateef Jakande in Lagos...recently

T H I S D AY ˾ ͰͲ˜ 2021

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BUSINESS/MONEYGUIDE

Ahmed: FG Committed to Eradicating Malnutrition, Food Insecurity Nume Ekeghe The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has reiterated the federal government’s commitment to tackling food insecurity and malnutrition across Nigeria.

She also noted that the implementation of the National Food Summit Dialogue was critical to the achievement of the Medium-Term National Development Plan (MTNDP) and Nigeria’s Agenda 2050.

In her opening remarks at the dialogue on the United Nations’ (UN) food system summit held yesterday, she stated that the output of various food dialogues would form a critical component for the conclusion of the MTNDP and Nigeria Agenda 2050, and

would, as well, contribute to the achievement of sustainable development goals (SDGs) in Nigeria.

Speaking on the essence of the Nigeria National Food Systems Dialogues (NNFSD), Ahmed said: “The NNFSD is required to improve nutrition security, reduce hunger and prevalence of malnutrition in line with the national food and nutrition policy for Nigeria.

“It is envisioned to create more inclusive, healthier food systems and encourage a collaborative approach towards building a sustainable food system.

“In recent years, Nigeria has shown a clear commitment to the eradication of malnutrition.

This is happening through the adoption and domestication of

policies and strategic plans, which emphasise increased reliance on domestic funding; and a wellcoordinated multi-sectoral and multi-stakeholders approach (comprising government, CSOs, private sector and donors); backed by sustained highlevel political commitment,” she said.

She added: “These include the national strategic plan of action for nutrition, the national policy on food and nutrition, the innovative national social investment programme (which includes the home-grown school feeding programme), the basic health care provision fund, and the National Council on Nutrition, and the development of various food and nutrition sector plans.”

Expert Cautions against Cryptocurrency Trading Nume Ekeghe ËØd Dike Onwuamaeze The Chief Executive Officer, Global Analystics, Mr. Tope Fasua has highlighted the risks in trading in cryptocurrencies.

He also revealed that presently, 60 per cent of central banks across the globe are under pressure to issue sovereign digital currency.

Fasua disclosed this yesterday, at the February edition of the Finance Correspondents Association of Nigeria (FICAN) monthly forum in Lagos, where he spoke on ‘Ban on Cryptocurrency-related accounts in Nigeria and concerns of global central banking.’

He also said although no banker to the government would support cryptocurrency, they have no option than to begin to issue their own Central Bank Digital

Currency (CBDCs).

Fasua said: “The anonymity of cryptocurrencies means it is a heaven for criminality. You would see that a lot of criminals went into it and a majorly also steal people’s wallet. There is an enormous amount of stealing in the crypto world compared to stealing in the fiat currency world and they try to move into cryptocurrencies to try and obliterated their trail.

“About 78 per cent of issued bitcoin are either lost, hoarded leaving less than four million bitcoin to be shared amongst future market and possess a lot of risks also.” According to him, about five countries, namely -China, Ecuador, Senegal, Tunisia and Singapore - have issued digital currencies in a bid to give alternatives to their citizens who

seek easier currency conversion.

Fasua stated that the proponents of the cryptocurrency believe that there was a need to push back and do something different, which would mimic the attributes of a gold-backed currency in view of durability and scarcity, but better than the current system by being smart, secure and not possible for central banks to issue at will.

He added: “If it started as a rebellion, then you must think of the incentive for the global economy to sign on to that rebellion with you against the devil they know. This then means that until there is global acceptance of the currencies, it will continue to be easy to create panic in the crypto world and big players can dump the currency when they have achieved gains.

…Bitcoin’s Price Tumbles after US Regulator’s Concern Bitcoin tumbled Tuesday from its record-breaking run after US Treasury Secretary Janet Yellen warned that the, “highly speculative” unit could be used for “illicit” purposes.

At about 1500 GMT, the digital currency slid 12.57 percent to $47,946, while rival ethereum declined 15 percent to $1,539.

Tesla boss Elon Musk — whose company has invested heavily in bitcoin — tweeted Saturday that the prices of both cryptocurrencies “seem high”.

Yellen hit out Monday over bitcoin, claiming it was inefficient and required a vast amount of energy — and she expressed fear

it was used for “illicit” reasons.

“I don’t think that bitcoin… is widely used as a transaction mechanism. To the extent it’s used, I fear it’s often for illicit finance,” the AFP quoted her to have said at an event hosted by the New York Times.

“It’s an extremely inefficient way of conducting transactions. And the amount of energy that’s consumed in processing those transactions is staggering.

“But it is a highly speculative asset, and I think people should beware. It can be extremely volatile, and I do worry about potential losses that investors in

it could suffer.”

Tuesday’s slump came after bitcoin had blazed a recordbreaking trail to peak at $58,350 on Sunday.

The total value of all bitcoin had surpassed $1.0 trillion on Friday.

One week ago, bitcoin blasted past $50,000 after Musk’s electric carmaker Tesla revealed it had invested $1.5 billion in the unit.

Bitcoin also vaulted higher in recent weeks after corporate giants — including investment fund BlackRock, New York bank BNY Mellon and credit card titan MasterCard — embraced the digital unit.

FG Urged to Sell Moribund Ajaokuta Steel Company Sylvester Idowu ÓØ ËÜÜÓ The Chairman and Managing Director of Energy Services Limited, Chief Sunny Onuesoke has appealed to the federal government to sell the moribund Ajaokuta Steel Company and allow private sector expertise restructure it for the benefit of Nigerians.

He said no Nigerian will be happy after visiting the Ajaokuta Steel Company and see investments of more than $8bn rotting away.

“I went there, I cried and asked what exactly is the problem?”

he said.

Onuesoke who spoke to newsmen in Warri after a private tour of the premises of the steel complex, recently, lamented that Ajaokuta steel Company that had reached 98 per cent completion as far back as 1994 had not produced a single steel till date, while Government is wasting huge sum of over N2 billion for payment of staff salaries every year for doing nothing.

He recalled that the federal government budgeted N3.9 billion in 2016 and N4.27 billion in 2017 for the resuscitation of the moribund Ajaokuta Steel Company,

despite an earlier business case in the last administration showing that the complex could only work if properly privatised. He added that there was also a humongous budget on it in 2018.

“So why would anyone continue to pump money into an enterprise that is unproductive? Why do government keep promoting, paying staff salaries, pensioning and retiring them? Why do government spend appropriation budget on maintenance of plant that is not working? How do you maintain a non-commission plant?

Onuesoke queried.

Ahmed

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JULY 2020 Money Supply (M3)

36,822,751.47

-- CBN Bills Held by Money Holding Sectors

3,476,121.25

Money Supply (M2)

33,346,630.22

-- Quasi Money

120,764,479.02

-- Narrow Money (M1)

12,582,151.19

---- Currency Outside Banks

2,002,026.89

---- Demand Deposits

10,580,124.31

Net Foreign Assets (NFA)

7,637,137.23

Net Domestic Assets(NDA)

29,185,614.24

-- Net Domestic Credit (NDC)

39,711,115.95

---- Credit to Government (Net)

19,521,851.08

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

-130,189,264.87

--Other Assets Net

3,472,017.70

Reserve Money (Base Money

13,421,827.07

--Currency in Circulation

2,395,917.03

--Banks Reserves --Special Intervention Reserves

11,025,910.04 317,234.17

˾ 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 AS AT MONDAY, 22 FEBRUARY 2021

The price of OPEC basket of thirteen crudes stood at $62.00 a barrel on Monday, compared with $61.30 the previous Friday, according to OPEC Secretariat calculations.

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

SOURCE: OPEC headquarters, Vienna

41

T H I S D AY ˾ ͰͲ˜ ͰͮͰͯ

FMDQ Exchange Admits Parthian Partners’N20bn Commercial Paper Goddy Egene FMDQ Securities Exchange has registered the Parthian Partners Limited N20 billion Commercial Paper (CP) Programme to its platform as part of its efforts to assist corporates access funds from the debt capital market (DCM).

The DCM has continued to witness significant activity among corporates seeking a viable avenue to raise capital to meet their financing needs.

According to the FMDQ, the registration of the CP programme strategically positions Parthian Partners Limited to raise short-term finance from the DCM with speed at a time in the future when it determines suitable, through CP issues within the CP Programme limit. Parthian Partners provides competitive wholesale brokerage services in the African over-thecounter (OTC) markets, and trades in Federal Government of Nigeria (FGN)bonds and treasury bills,

P R I C E S MAIN BOARD

F O R DEALS

state government bonds, local contractor bonds, orporate bonds and eurobonds, providing regular market updates and liaising with market participants and regulators in the African markets to provide independent research on the African fixed income market.

FMDQ said in support of the growth and revitalisation of the Nigerian economy, it championed the resuscitation of the CP market to provide corporate and commercial businesses with the

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

QUANTITY TRADED

VALUE TRADED ( N )

opportunity to meet their shortterm funding requirements, whilst building their profiles within the Nigerian DCM. “In addition to its commendable and efficient registration process, FMDQ Exchange, through its quotation service, will provide stakeholders and market participants with credible and real-time information as part of the exchange’s commitment to facilitate transparency in the fixed income market space,” it said.

Meanwhile, trading in the

T R A D E D MAIN BOARD

A S

equities market closed in the green yesterday following buying interest in Zenith Bank Plc (+4.8 per cent), Flour Mills of Nigeria Plc (+6.2 per cent) and Guaranty Trust Bank Plc(+0.8 per cent). As a result, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) appreciated by 0.03 per cent to close at 40,164.86.

Zenith Bank Plc yesterday released its audited results for the year ended December 31, 2020, announcing a profit before tax

O F

(PBT) of N243.294 billion, up from N255.861 billion. Profit after tax (PAT) rose by 10.4 per cent to N230.565 billion from N208.843 billion in 2019. Trading activity improved as volume and value advanced 16.8 per cent and 7.6 per cent to 338.0 million shares and N3.8 billion respectively. The most traded stocks by volume were FBN Holdings Plc (64.6 million shares), Zenith Bank (52.7 million shares) and Transcorp (42.0 million shares).

2 3 / 0 2 / 2 0 2 1 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

42

WEDNESDAY, FEBRUARY 24, 2021 ˾ T H I S D AY

MARKET NEWS

Chams Plc Appoints Oloketuyi, Bakare as Directors Goddy Egene

Chams Plc has approved the Bakare as non-executive an astute and seasoned banker Executive Officer of Wema appointment of Mr. Olusegun directors effective 18th of and accountant. He served as Bank Plc. Mrs. Bakare is a The Board of Directors of Oloketuyi and Mrs. Olamojiba February, 2021. Oloketuyi is Managing Director and Chief seasoned and distinguished A Mutual fund (Unit Trust) is an investment floor of the Nigerian Stock Exchange.

Offer price: The price at which units of a trust or vehicle managed by a SEC (Securities and A REIT (Real Estate Investment Trust) is an ETF are bought by investors.

Exchange Commission) registered Fund Manager. investment vehicle that allows both small and Bid Price: The price at which Investors Investors with similar objectives buy units of the large investors to part-own real estate ventures (eg. redeem (sell) units of a trust or ETF. Fund so that the Fund Manager can buy securities Offices, Houses, Hospitals) in proportion to their Yield/Total Return: Denotes the total that willl generate their desired return. investments. The assets are divided into shares that return an investor would have earned on An ETF (Exchange Traded Fund) is a type are traded on the Nigerian Stock Exchange. his investment. Money Market Funds report of fund which owns the assets (shares of stock, Yield while others report Year- to-date Total bonds, oil futures, gold bars, foreign currency, GUIDE TO DATA: Return. etc.) and divides ownership of those assets into Date: All fund prices are quoted in Naira as at 22- NAV: Is value per share of the real estate shares. Investors can buy these ‘shares’ on the Feb-2021, unless otherwise stated. assets held by a REIT on a specific date.

lawyer with almost 20 years’ experience in the corporate world.

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 158.47 160.06 -2.04% Afrinvest Plutus Fund 100.00 100.00 3.06% Nigeria International Debt Fund 350.87 350.87 -12.04% Afrinvest Dollar Fund 113.69 113.69 0.37% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 1.05 1.07 16.62% ACAP Income Funds 0.63 0.63 -13.35% 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 0.34% AIICO Balanced Fund 3.35 3.51 -5.66% 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 N/A N/A N/A Anchoria Equity Fund N/A N/A N/A Anchoria Fixed Income Fund N/A N/A N/A 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 18.65 19.21 2.83% ARM Discovery Balanced Fund 409.81 422.16 2.36% ARM Ethical Fund 35.25 36.31 4.55% ARM Eurobond Fund ($) 1.19 1.20 -2.21% ARM Fixed Income Fund 1.03 1.04 -7.73% ARM Money Market Fund 1.00 1.00 1.22% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.04 2.04 -37.26% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.18 2.22 -19.38% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 1.35% Cordros Milestone Fund 2023 129.04 129.90 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 110.05 110.05 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 1.28% Coronation Balanced Fund 1.17 1.18 -2.67% Coronation Fixed Income Fund 1.48 1.48 -6.71% 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 1.30% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 1.54% EDC Nigeria Fixed Income Fund 1,154.07 1,156.57 -3.84% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bonds Fund 1,345.02 1,345.02 5.84% FBN Balanced Fund 184.11 185.44 -1.90% FBN Halal Fund 109.96 109.96 4.24% FBN Money Market Fund 100.00 100.00 1.64% FBN Nigeria Eurobond (USD) Fund - Institutional 123.49 123.49 3.01% FBN Nigeria Eurobond (USD) Fund - Retail 123.63 123.63 3.01% FBN Smart Beta Equity Fund 151.05 152.97 -0.08% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 1.14% Legacy Debt Fund 3.89 3.89 0.58% Legacy Equity Fund 1.59 1.62 4.29% Legacy USD Bond Fund 1.14 1.14 0.70% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund N/A N/A N/A Coral Income Fund N/A N/A N/A FSDH Treasury Bills Fund N/A N/A N/A GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 0.80% Nigeria Entertainment Fund 128.00 128.53 18.89%

GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 1.29 1.29 50.00% Vantage Balanced Fund 2.74 2.81 19.68% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 156.34 156.85 0.61% Vantage Dollar Fund (VDF) - June Year End 1.08 1.08 5.11% 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 1.38 1.40 0.69% Lotus Halal Fixed Income Fund 1,137.59 1,137.59 1.27% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.61 1.64 7.38% PACAM Fixed Income Fund 12.20 12.32 -0.32% PACAM Money Market Fund 10.00 10.00 1.25% PACAM Equity Fund 1.58 1.60 0.35% PACAM EuroBond Fund 109.22 111.85 -0.20% 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 127.89 130.61 6.50% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.01 1.01 0.95% 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 3,141.90 3,168.70 -2.28% Stanbic IBTC Bond Fund 226.43 226.43 0.70% Stanbic IBTC Ethical Fund 1.16 1.18 -0.85% Stanbic IBTC Guaranteed Investment Fund 296.60 296.61 0.66% Stanbic IBTC Iman Fund 215.20 217.77 -1.54% Stanbic IBTC Money Market Fund 100.00 100.00 1.48% Stanbic IBTC Nigerian Equity Fund 10,011.75 10,150.31 -4.62% Stanbic IBTC Dollar Fund (USD) 1.24 1.24 0.88% Stanbic IBTC Shariah Fixed Income Fund 111.67 111.67 0.53% UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.39 1.41 1.76% United Capital Bond Fund 1.91 1.91 0.85% United Capital Equity Fund 0.90 0.92 4.32% United Capital Money Market Fund 1.00 1.00 2.43% United Capital Eurobond Fund 118.06 118.06 0.84% United Capital Wealth for Women Fund 1.08 1.10 -0.24% United capital Sukuk Fund 1.02 1.02 2.07% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +2349031100041 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 12.22 12.33 3.00% Zenith Ethical Fund 13.50 13.61 10.50% Zenith Income Fund 24.16 24.16 0.77% Zenith Money Market Fund 1.00 1.00 1.53%

REITS NAV Per Share

Yield / T-Rtn

121.58 52.64

0.70% 0.46%

Bid Price

Offer Price

Yield / T-Rtn

12.99 121.58 96.13

13.09 121.58 97.94

-1.75% -0.13% -3.26%

Fund Name SFS Skye Shelter Fund Union Homes REIT

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

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 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

3.92 5.78 17.33 1.00 18.98 176.47

3.96 5.86 17.43 1.00 19.18 178.47

3.59% 1.62% 5.90% 0.40% -7.46% -20.06%

NAV Per Share

Yield / T-Rtn

108.05

13.11%

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.

43

WEDNESDAY FEBRUARY 24, 2021 ˾ T H I S D AY

NEWSXTRA

Abia Kicks as Adeyemi Abuses Ikpeazu Says Kogi senator needs psychiatric evaluation

Deji Elumoye and Udora Orizu in Abuja There was mild drama at the Senate plenary yesterday as Senator Smart Adeyemi representing Kogi West, deviated from chamber rules while contributing to a motion on the urgent need for the restoration and revalidation of the Safe School initiative in Nigeria.

Adeyemi, after making his contribution in support of the motion, changed the topic, describing Abia State Governor,

Dr. Okezie Ikpeazu, as a drunk.

But in a swift response, the Senate Minority Leader, Senate Enyinnaya Abaribe asked the Kogi senator to tender an apology to the Abia State governor.

The Abia State government, in a statement issued by the Commissioner for Information, Mr. John Okiyi Kalu, described Adeyemi as “village idiot” when requires psychiatric evaluation.

Adeyemi, who is the Chairman of the Senate Committee on Aviation, was apparently responding to

a social media post linked to Abaribe, who is from Abia State, which allegedly insulted Kogi State Governor, Mr. Yahaya Bello.

Adeyemi said that Abia State people are unfortunate to be governed by a “champagne-drinking governor”.

The senator, while commending some governors in their fight against insecurity, however urged them to do all that they can, because Nigeria is such a large nation, adding that the federal government alone cannot police all the schools.

He said, “In some states of

APC Chieftain Urges Other Govs to Adopt Ayade’s Crime-busting Blueprint A chieftain of the All Progressives Congress (APC) in Cross River State, Mr. Goddy Akpama has applauded Governor Ben Ayade’s handling of security issues in the state.

He said in a statement issued yesterday in Calabar that Cross River State is now one of the safest states in the country where people sleep with their eyes closed.

Akpama urged other state governors to copy Ayade’s methods in tackling insecurity in their states.

According to him, “news of insecurity across Nigeria has gained currency in recent times with terrorism, banditry, armed

robberies, kidnapping, rape, ritual killings, topping the headlines.

“These societal vices seemed to have spiralled out of control in most parts of the country after the #EndSARS protest that almost brought the country to its knees.

“Surprisingly, Cross River State which was one of the worst hit by the #EndSARS protest and accompanying crime wave is at the moment one of the safest places to be in Nigeria.

“Now, across the state, people can sleep with their doors open and their eyes closed, as they are more assured of their security now than any other time.”

He attributed this in part

to the setting up of a crime bursting outfit, Operation Akpakwu, by the governor, which has given criminals, especially kidnappers and armed robbers a bloody nose in recent months.

“The effectiveness of the security outfit directly under the watch of Governor Ayade who is the Chief Security Officer of the state has led to the busting of the dens of some of these criminals who have been arrested and prosecuted, if not gunned down during shootouts with a few of them that had violently resisted arrest.

Nigeria today, where we have highly intelligent people, highly educated people, very enterprising people; like Abia, they are governed by drunkards. ‘’The governor of Abia is a champagne-drinking man. Abia people are impoverished more than ever before. Abia people are unfortunate.’’

But the Senate President, Dr. Ahmad Lawan cautioned the lawmaker against the use of abusive language.

Reacting, Abaribe denied making

the statement, Adeyemi made reference to.

Abaribe expressed shock over Adeyemi’s “drunkard” comment and urged him to apologise to Ikpeazu.

He said: “Mr President I will like to make a clarification. Unfortunately, what has happened here today is one of the problems that you see on social media. I never made any comments on the governor of Kogi State. Never!

“What has happened is what we see going on today. People write

something and tag your name to it. And if you don’t ask question, you will not know whether you actually said it or not. And I see so many things tag to me but I don’t talk. The last time I saw Nuhu Ribadu, I also spoke to him. Something was tagged to his name that was very deleterious. I’m very surprised that my good friend and colleague decided to open up on the governor of Abia for something I never said.”

The Sun Editor, Babafemi, Appointed NDLEA’s Director of Media The National Drug Law Enforcement Agency, (NDLEA), has appointed the Editor, Saturday Sun, Mr. Femi Babafemi as the agency’s Director of Media and Advocacy.

The appointment, which takes immediate effect will enable the new appointee leverage on his almost two and a half decades’ experience in journalism, media and strategic communications to lead the publicity and advocacy campaigns of the agency as envisioned by its new Chairman and Chief Executive, Brig. Gen. Mohammed Buba Marwa (rtd).

The Sun Publishing Limited has since approved a leave of absence

for him to enable him take up the national assignment.

Babafemi holds a Master’s degree in Public and International Affairs from the University of Lagos and a Bachelor of Arts in English Language from the Obafemi Awolowo University, OAU, Ile-Ife. Besides, he holds certificates in Communication Strategies, Royal Institute of Public Administration (RIPA), London, 2008; Managing People for Strategic Advantage, Lagos Business School, Pan-African University, Lagos, 2009; and Effective Public Relations Planning, The Management School, London, 2011.

Babafemi who joined The Sun in 2003 as a pioneer staff left as Deputy

News Editor in 2008 when he joined the Economic and Financial Crimes Commission (EFCC) as the agency’s Head of Media and Publicity.

He returned to The Sun in April 2012 as an Assistant Editor and promoted Deputy Editor in June 2013.

In January 2017, he was appointed the substantive Editor of Saturday Sun. With over 24 years postgraduation experience in journalism, media and public relations, communication strategies and reputation management, Babafemi started his career in the pen profession in the defunct National Concord.

WEDNESDAY FEBRUARY 24, 2021 ˾ T H I S D AY

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NEWSXTRA

Apapa Gridlock: Lagos, NPA Talk Tough, to Impound Trucks on Highways Segun James Lagos State Government and the Nigerian Ports Authority (NPA) have recorded a major progress in an effort to proffer lasting solution to the menace of trucks causing gridlocks in Apapa.

With effect from next Saturday, movement of trucks in and out of

the Lagos seaports will now be organised through a transparent electronic call-up system that will be based on first-come-first-serve basis.

With the new system, no container-laden truck is expected to enter Apapa corridor without clearance from the call-up platform.

According to a statement

Makinde Reopens Shasha Market, Victims to Get Palliatives Governor Seyi Makinde of Oyo State yesterday ordered the reopening of the Shasha market, a decision, he said, was taken in the best interest of the traders and for peace and harmony between the Yoruba and Hausa communities.

The market was shut down barely two weeks ago after the bloody clash that ensued following the death of a cobbler.

Makinde gave the directive for the reopening of the market yesterday during a peace meeting held with the leaders of the Hausa and Yoruba communities of Shasha at the House of Chiefs, Secretariat, Agodi, Ibadan.

He said the decision to reopen the market was informed by the need for survival for the traders in the light of the declining economic situation.

He added that due to the economic situation and the peculiarities associated with the state, the reopening of the market became imperative.

While addressing the HausaFulani, he said, “Considering the economic situation and the peculiarities we have with us, we will immediately reopen the

Shasha market. They will bring bulldozer to the market today (Tuesday).”

“When my brother governors visited Seriki Shasha palace, while we were working around, I realised that both the people I saw at Seriki’s place and those I met at Baale’s place were not happy because they have been deprived of doing their job.

“If you look at Oyo State, even when the COVID-19 was at its peak, I decided not to shut our market places because I know and also explained to the leadership of the country at the national level that in our state, we have people that the proceeds from what they get today will determine if they will eat tomorrow or not.

“Since peace has more or less returned to the market and the community, we have given the go-ahead that the market should be repealed.

I have also given instructions for some palliative works to be done. I have instructed that solar light be installed in the market any time of the day or night, we will see what is going on in the market.

Delta, Consortium Sign Asaba Airport Concessioning Agreement Process very transparent, says Okowa

Omon-Julius Onabu in Asaba

A 30-year concession agreement on the Asaba International Airport, Delta State, was yesterday signed between the state government and the Asaba Airport Company Limited, as the state Governor, Dr. Ifeanyi Okowa, described the bidding process leading to the final agreement as “very transparent.”

The Asaba airport concession deal, which is worth over N28 billion, is for 30 years with N100 million payable to the state per annum and a possible escalation at five percent every five years, the governor disclosed.

“The bidding process was rigorous but transparent, and the state government was convinced that the final outcome was what was best for the people and the economy of the state in the long run, as the state government was realistic about its inability to operate an airport to the desired international standards,” the governor said at the signing ceremony.

Okowa said the journey to the concession agreement signing ceremony began in November 2015, when he set up a Project

Steering Committee headed by his Senior Policy Adviser, Prof Henry Monye, “with the mandate to shop for a consortium of concessionaire operators/ investors with the technical and financial capabilities to redevelop, finance, design, operate, maintain and manage the Asaba airport for the Delta State Government.”

He noted that the airport, which was conceived and begun construction by the Governor Emmanuel Uduaghan administration, had suffered a setback when the country’s aviation regulatory authority downgraded the airport, compelling an upgrade by his new government.

According to Okowa, “As we may be aware, this airport was conceived and built by the previous administration of Dr. Emmanuel Uduaghan not only as a passenger airport but one that will tap the vast economic potential accruable from the proximity to the eastern commercial cities of Onitsha and Nnewi, and be a hub for export of agricultural and manufactured goods.

issued yesterday by the Lagos State government, any truck that flouts the electronic roster and park along Apapa corridor will be impounded by the Taskforce already set up by the Lagos State government.

The development was disclosed yesterday when Governor Babajide Sanwo-Olu received the NPA Managing Director, Ms. Hadiza Bala Usman, in audience at the State House, Alausa.

Sanwo-Olu expressed optimism on the transparent electronic

call-up system, saying the move was the beginning of the end of Apapa gridlock.

He said the call-up platform would be complemented with virtual dashboards that will be placed in strategic locations around the seaports, where all stakeholders will monitor scheduling of container movement.

The governor praised NPA for the innovative approach towards tackling the truck menace around ports, pledging that the state government would sustain the

effort with strict enforcement of traffic regulations along the Apapa corridor.

He said: “This is the beginning of a better journey time for our citizens within the Apapa seaports and environ. This electronic system has limited interface with security operatives and unions, which usually cause the gridlock problem. It will be a simple case of possessing electronic clearance.

If you don’t have it, you don’t have any reason to be around the seaports.

“In enforcing the new regulations, we are deploying more than enough towing vehicles to impound erring trucks. The huge amount to be paid as fine for flouting the call-up system will be a deterrent for drivers not to repeat it. The stakeholders need to understand we are serious about ridding Apapa of the menace that has brought pains to our citizens living and doing businesses along the corridor.”

PIB ON THEIR MINDS…

L-R: Group Executive Director, Strategy, Capital Projects and Portfolio Development, Dangote Industries Limited, Devakumar Edwin; Chairman, Senate Committee on Petroleum (Upstream), Senator Albert Bassey; Co-Chairman, Senator James Manager, Member, Senate Committee on Gas, Senator Sabo Mohammed Nakudu; Chairman, Senate Committee on Petroleum Downstream, Senator Mohammed Tahir Monguno, during the Joint Committee on Petroleum Industry Bill’s visit to Dangote Oil Refinery in Lekki, Lagos… yesterday

Govs May Opt for Dialogue with Bandits Laleye Dipo in Minna The Nigeria Governors’ Forum (NGF) may opt for dialogue with the bandits terrorising the various parts of the country.

Chairman of NGF and Governor of Ekiti State, Dr. Kayode Fayemi gave the hint yesterday in Minna, Niger State, when he led a delegation of the forum on a sympathy visit to Governor

Abubabkar Sani Bello.

Speaking during the visit, Fayemi said: “We also need to explore other avenues side by side with whatever the security institutions are doing if that means engaging in dialogue We may not have a choice. We may have to do that, anything to help us to deal with this immediate crisis and then to begin to address on a much more longer time basis, the root causes of

this social dislocation responsible for what we are witnessing, all around us.

“We don’t want to come here on a cycle of lamentation. That’s not our job. Yes, we want to be compassionate. Yes, we want to be sympathetic. We want to feel the pain of our people because our first responsibility as governors as enshrined in the Nigerian constitution is the security and

welfare of our people, but we don’t want to lament because the citizens want us to fix the problem.

Our people just want us to find a permanent solution to this cycle of violence, insurgence, banditry, criminality, and brigandage in our country.”

In his response, Bello said that he was fully in support of adopting kinetic and non-kinetic approaches to curb the banditry.

PDP Intervenes in Ortom, Mohammed Feud Chuks Okocha in Abuja The leadership of the Peoples Democratic Party (PDP) has waded into the war of words between the Governors of Benue and Bauchi States, Samuel Ortom and Bala Mohammed.

Ortom had raised the alarm, accusing Mohammed of profiling him for possible assassination by armed Fulani herders, as he contended that by repeatedly accusing him (Ortom) of instigating hatred against armed

herders in the country, the Bauchi state governor was putting his life in danger.

Ortom, who spoke in Makurdi while reacting to the recent media outburst by Mohammed, also alleged that the Bauchi State governor’s unrelenting support for herders to carry AK-47 riffles for self-defence clearly indicated that the governor was supporting the mindless killing of Nigerians by armed herders.

The Benue State governor, who also said he did not want

to join issue with his Bauchi State counterpart, however, said: “Since he has chosen to continue to vilify, intimidate and blackmail me, and since it is said that silence is consent, I am compelled to respond.”

Governor Mohammed of Bauchi State last week explained the comment he made about Fulani herdsmen carrying AK47 rifles for self defence in a statement issued by his Senior Special Assistant (SSA) on media, Mr Mukhtar Gidado.

He said the primary objective of his comment was to avert the dangerous prospect of a nation-wide backlash and generalisation of the Fulani people as criminals.

Announcing the party’s intervention in the war of words between the governors, the National Publicity Secretary of PDP, Kola Ologbondiyan assured Nigerians that it has waded into the rift between Ortom and Muhammed.

Airopay, Access Bank, ARISE TV, Yesufu Nominated for GAGE Awards Sunday Okobi The GAGE Awards 2021 has finally opened its portal for voting for digital practitioners, including ARISE TV Online, that emerged from the 20 categories, and after two months of intense nominations, the final lists of nominees in the various categories have been released.

Announcing the commencement of voting, the Convener of the

GAGE Awards, Mr. Johnson Anorh, disclosed that it was not an easy task pruning down over 15,000 nominations as Nigerians made their choice on who best served them in 2020, using the digital platforms.

“The numbers have been overwhelming as in less than 24 hours, as we have had over 1.4 million website visits,” he said.

He disclosed that the nominees for the Banking App of the Year

are Vbank, GTBank, Zenith Bank, Access Bank and Alat by Wema Bank, while the nominees for Data Service Provider of the Year are MTN, Airtel, Globacom, Swift Networks and 9Mobile. The Breakout App of the Year category nominees are Airopay, WhotAfrica, Zoom, TiKTok, and Clubhouse.

Also, Online Comedian of the Year nominees are Mr. Macaroni, Lasisi Elenu, Sydney Talker, MC Lively, and 2019 winner, Taaooma,

while Influencer of the year category nominees are Aisha Yesufu, Tomike Adeoye, Erica Nlewedim, Nengi Hampson and Pamilerin.

Anorh further disclosed that the nominees for Entrepreneur of the Year are Charles Oyakhilome(CEO,Airopay); Shola Akinlade and Ezra Olubi(Founder, Paystack); Tope Awotona(CEO, Calendly); Babs Ogundeyi (CEO, Kuda Bank), and Chijioke Dozie, (CEO, OneFi and Carbon).

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24 HOURS...

24 HOURS...

Niger Denies Knowledge of Alleged Ransom Demand By Kidnappers of School Boys Laleye Dipo in Minna The Niger State Government has denied knowledge of any demand for ransom by the bandits who kidnapped 42 people from the

Government Science College, Kagara in the state.

Parents of the students were alleged to have contributed N2.7million, which they reportedly sent to the bandits that kidnapped

PSC: Policemen’s Misconduct Responsible for #EndSARS Protests Malami calls for greater collaboration between police, commission Kingsley Nwezeh in Abuja The Chairman, Police Service Commission (PSC) and retired Inspector General of Police (IG), Mr. Musiliu Smith, has attributed the #EndSARS protests to the misconduct of officers of the Nigeria Police Force.

This is coming as the Minister of Justice and Attorney General of the Federation (AGF), Mr. Abubakar Malami (SAN), yesterday called for a harmonious working relationship between the Nigeria Police and the PSC. Speaking yesterday at a retreat organised in Abuja by the IG and his police management team, Smith decried the level of misconduct in the police force saying his office was always inundated with complaints from

Nigerians.

“We are always having a lot of complaints from the members of the public against police officers.

I believe that #EndSARS resulted from serious misconduct of some of our personnel.

“I want to advise that we review the arrangements we are making for investigating such cases. Let’s ensure that investigations are thoroughly conducted and whoever is the police officer that has been indicted will be punished according to the law.

If we are doing that, some of the public complaints will go down.”

Smith, commended the IG for organising the retreat, which he said would enable the PSC and the police leadership rub minds and chart new ways of moving the police institution forward.

Insecurity: Senate Probes Alleged Mismanagement of N2bn Safe School Fund Deji Elumoye and Udora Orizu in Abuja The Senate yesterday directed its Committee on Basic Education to carry out a holistic investigation into what happened to the over N2 billion budgeted for the Safe School Initiative (SSI) program, with a view to bringing to book the culprits.

The upper legislative chamber also urged the federal government to collaborate with the various state governments in order to restore, revive and revalidate the SSI in Nigeria.

It also called on the federal government to collaborate with the state and and local government to urgently design and implement a workable arrangement for the deployment of special security

personnel in schools in Nigeria.

These resolutions were sequel to the adoption of a motion entitled “Urgent Need for The Restoration and Revalidation of the Safe School Initiative in Nigeria,” which was sponsored

by Senator Adi Odey Stephen.

Stephen said the Senate is aware that the SSI was launched to promote security and safety of schools, pupils, student, teachers, as well as facilities in 2014.

He expressed concerns that the unfortunate increases in the insecurity crisis in the country, with the advanced target at schools in diverse locations, have exposed the unimaginable decadence and dilapidation in the schools in Nigeria, drawing inference from the footages from the school environments.

Uzodimma: Why I Invited Military to Orlu Deji Elumoye in Abuja Governor Hope Uzodimma of Imo State yesterday justified the recent invasion of Orlu town by soldiers saying he invited the military to ensure safety of lives and property.

He also stressed that he has nothing personal against his predecessor, Senator Rochas Okorocha.

Uzodimma, who spoke with reporters after meeting with President Muhammadu Buhari at the Presidential Villa, Abuja, said he invited the military to Orlu to avoid total breakdown of law and order in the area.

According to him, when

sporadic shooting and killings persisted in Orlu and the police became overwhelmed, he had no choice but to alert the President on the need to send military to help in stopping the mayhem.

“On the issue of bringing the military to Imo State, you recall, during the #EndSARS protests, a lot of property were damaged in Imo State, police stations were burnt down, soldiers were killed, their rifles removed from them.

And immediately after the ENDSARS, we thought it was over then issues of kidnapping, where you know, a Catholic Bishop was kidnapped and eventually killed.

And these militants come out and begin to shoot.

their wards.

The money was reportedly sent through an intermediary.

According to an audio conversation between the spokesman of the bandits and the intermediary, which has gone virile, the bandits reportedly rejected the money which they said was too meagre.

However, the Secretary to the State Government, Alhaji Ibrahim Ahmed Matane, told THISDAY that the state government was not aware that the parents took such steps.

“In fact we have told the parents not to pay any money to anybody for the release of the students,” Matane said.

According to the audio tape, the spokesman of the bandits doubted if it were the parents that contributed the money because in the past people sent to pay ransom to them had always shortchanged them.

The spokesman therefore asked the intermediary to forward the names and telephone numbers of the parents so that they would have

direct contact with them.

“The boys are hungry; I don’t care if all of them die,” the bandits’ spokesman said in the audio.

The spokesman of the bandits requested that they should hasten the negotiation because if any of the boys die he would be buried in the forest.

On the decision of the government not to pay ransom the bandit said if the government pays ransom or not, “we have the money to buy the weapons we need”.

Matane, while reacting to the audio, explained that it was only a threat because they know negotiation for the release of the boys has reached advanced stage.

“That is the same thing they did with the NSTA victims family but we told them not to pay and they did not pay”, the government scribe said Asked at what level the negotiation has reached, Matane said “We have gone very far” adding that they could be released in 10 hours, or 15 hours.

STRATEGISING AHEAD OF 2023…

L-R: Oyo State Governor, Mr. Seyi Makinde; Chieftain of Peoples Democratic Party (PDP), Ambassador Omolade Oluwateru; former deputy governor of Oyo State, Ambassador Taofeek Arapaja; former deputy governor of Osun State, Erelu Olusola Obada and former governor of Osun State, Prince Olagunsoye Oyinlola, during the PDP South West Caucus meeting at Government House, Agodi, Ibadan... yesterday

OPEC Mourns Ex-Saudi Arabia Petroleum Minister,Yamani Emmanuel Addeh in Abuja The Organisation of Petroleum Exporting Countries (OPEC), yesterday expressed sadness over the death of a former Saudi Arabian Minister of Petroleum and Mineral Resources, Sheikh Ahmed Yamani, who passed away at the age of 90.

Secretary General of the organisation, Dr. Sanusi Barkindo, in a condolence message, said that Yamani was an outstanding icon of the world of oil and the leading light in OPEC during his

eventful years as a minister and OPEC leader.

Describing him as a true OPEC legend, a man who bestrode the meeting rooms and corridors of OPEC, and the global oil industry, during his almost quarter of a century as minister of oil of the Kingdom of Saudi Arabia, Barkindo said that his tenure represented the longest period of service for an OPEC minister.

He added that between March 9, 1962 and October 5, 1986 when he was minister, Yamani was part of many of the pivotal moments

that shaped the organisation’s history.

Quoting Daniel Yergin in his seminal book on the oil industry, “The Prize”, Barkindo noted that “To the global oil industry, to politicians and senior civil servants, to journalists and to the world at large, Yamani became the representative, and indeed the symbol of the new age of oil,” Born in Mecca, Saudi Arabia, in 1930, Yamani earned a bachelor’s degree in law at Cairo University in 1951, a

master’s degree in law at New York University in 1955 and graduated from Harvard Law School in 1956.

Only six years after graduating from Harvard, he took up the reins of his country’s petroleum ministry.

In April 1962, he flew to OPEC’s new headquarters in Geneva to attend the fourth meeting of the OPEC conference, his first as new minister, and it proved to be an early test of his resilience and foresight.

Ambassadorial Portfolio Can’t Stop ICC Investigation of Ex-Service Chiefs, Says PDP Chuks Okocha in Abuja The Peoples Democratic Party (PDP) yesterday berated the All Progressives Congress (APC) leadership in the Senate for ‘betraying Nigerians’ by clearing the former military Services Chiefs for ambassadorial portfolios despite reports of crime against humanity committed under their command.

The party, however, insisted that the clearance would not stop the investigation and possible prosecution of the accused commanders by the International Criminal Court (ICC) for crime against humanity, which preliminary steps have already commenced by the ICC. In a statement issued by the National Publicity Secretary of the PDP, Kola Ologbondiyan, he

said: “It is indeed horrendous that the APC leadership in the Senate could choose to betray Nigerians by rushing to clear the accused ex-service chiefs in a desperate attempt to grant them diplomatic immunity and shield them from investigation and prosecution for the atrocities committed against Nigerians under their command.

“Though it is a public knowledge that the current APC

Senate leadership is a mere rubber stamp and contrivance being used to endorse atrocious policies and suppress the will of the people, however, descending to the level of aiding and abetting crime against humanity by attempting to confer diplomatic immunity on the accused ex-commanders is to say the least despicable.”

Apologise to Bauchi People, Deputy Speaker Tells Ortom Segun AwofadejiinBauchi Following the statement by the Governor of Benue State, Mr. Samuel Ortom describing his counterpart in Bauchi State, Senator Bala Mohammed as a terrorist, the Deputy Speaker of the Bauchi State House of Assembly(BAHA), Hon. Danlami Ahmed Kawule, who is also representing Zungur/ Galambi Constituency has urged Ortom to apologise to the people of Bauchi State for making the alleged

derogatory statement.

The Deputy Speaker who stated this yesterday during an interview with journalists in Bauchi, said that the citizens of the state as well as the Peoples Democratic Party (PDP) in the state are not happy over the strain in relationship between the two PDP governors who are supposed to be working towards the unity of the nation.

He maintained that leaders in the country should refrain from making utterances that have the capacity

to heat up the polity, pointing out that no nation can progress in a state of chaos.

“As far as I am concerned, Governor Ortom needs to apologise to the people of Bauchi State for tagging Governor Mohammed as a terrorist because Bauchi people are not terrorists neither is the governor.

Such statement should not come out from the mouth of a leader who happens to be a mouth piece of the people who everybody look forward to as a role model”

“For him to say that if you cannot follow the law in Benue State, go to Bauchi State and pick AK-47 is very dehumanising. What does Governor Ortom mean by such a statement? That statement is an abusive word. We are not happy over this development because Bauchi State is the most secured place in the country where other neighbouring states who are bedeviled by insecurity come to settle”

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WEDNESDAY FEBRUARY 24, ͺ͸ͺ͹˾ T H I S D AY

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WEDNESDAYSPORTS

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Super Eagles far from World-class Status, Says Rohr Femi Solaja with agency report With six appearances at the greatest sporting event on the planet, the FIFA World Cup, Super Eagles Head Coach, Gernot Rohr, has said that the Nigerian senior team is still very far to be counted among those that could win the

coveted trophy.

The Franco-German gaffer said yesterday that the current crop of players are far from been world beaters and could only try to make impressions.

Since Super Eagles debuted at USA ‘94 where they were eliminated by finalist, Italy in the second round, the team again 1998, 2002 and 2014 editions matched the mark.

Eagles have only missed appearance at the 2006 finals in Germany since the debut 27 years ago.

But Rohr who spoke with NewsCentral insisted Super

RESULTS Gernot Rohr...Super Eagles Coach

Eagles cannot win the global tournament because many of the players are not playing in top clubs.

“We are not ready to win the World Cup yet for several reasons. Take France as an example, they are the world champions at the moment, where are they playing? They are playing in PSG, Bayern Munich. Four of them are world champions at their clubs also.

“So when you have so many of your players from your country playing in the best clubs, so the probability that you also have one of the best teams in the world is very big.

“So what we have in Nigeria for example, we have our players in Fulham, in West Bromwich. It’s not Bayern Munich, Liverpool, Manchester United or Barcelona.

But the other ones have their players there. So it would be a miracle if we actually win the World Cup,” he pointed out.

Rohr led Nigeria to the last World Cup in Russia where Eagles lost out in the group phase to finalist Croatia and Argentina.

He was recently handed a new two-year deal and could lead the three-time African champions to next outing at the global tournament in Qatar in 2022.

Rohr also said newly invited players like Matthew Yakubu and Sebastian Osigwe did not get the chance to feature in the 2022 Africa Cup of Nations qualifiers against Sierra Leone in November because the games were competitive.

He however handed debuts to Frank Onyeka and Kevin Akpoguma, who switched his allegiance from Germany to Nigeria.

“We tried in the last few friendlies and even the international games in Benin City and in Freetown, we had some new players,” he continued.

“We had some players who

decided to come with us, leaving, for example, Germany U20, U23 like Akpoguma who decided to come with us, it is fantastic.

“But they need the time to come in and it’s not easy in a few training sessions only to find exactly the right way to play with the team, it’s easier for the other ones who were with us in the World Cup and played with us in the AFCON. “We have to try to invite better players, friendlies are good for that to see them.

When they are friendlies it is not for the result we are playing, we want to see new faces.

Atletico 0-1 Chelsea Lazio 1-4 B’Munich

Falcons Hammer E’Guinea 9-0 to Win Turkish Women’s Cup Nigeria emerged as the first African side to claim the Turkish Women’s Cup on their first-ever appearance after humiliating Equatorial Guinea 9-0 yesterday.

The nine-time Africa Women’s Cup of Nations winners opened their outing on a high, with a 1-0 win over CSKA Moscow before edging Uzbekistan by the same scoreline to inch closer to the crown.

Randy Waldrum made three changes to his side, starting Charity Adule, Christy Ohiaeriaku and Uchenna Kanu ahead of Halimatu Ayinde, Tochukwu Oluehi and Francisca Ordega.

Needing just a draw to seal the title, the Super Falcons were seeking to end on a high as Uchenna Kanu set up Glory Ogbonna to open the scoring, with a long-range effort after just nine minutes.

Three minutes later, Toni Payne was brought down in the area to gift Nigeria a penalty and Asisat Oshoala stepped up to convert from the spot before grabbing

her brace with another penalty in the 13th minute.

Some 13 minutes later, Chidinma Okeke’s long pass from the right found Oshoala and the Barcelona striker raced past the opponents’ defence to net her third and her side’s fourth of the match.

Waldrum’s side maintained their ruthless form as Payne teed up Kanu to net a fifth of the match in the 36th minute before Ogbonna’s cross was headed in by debutant Charity Adule two minutes later.

Three minutes from the half-time break, Payne grabbed her first goal in the green and white colour of Nigeria when she fired past goalkeeper Emiliana Nchama Ndong for a seventh of the match.

Before the restart, Waldrum made four changes, bringing on Mariam Ibrahim, Gift Monday, Ramat Abdulkareem and Esther Sunday as replacements for Ihezuo, Okeke, Payne and Kanu.

Akwa Utd Banking on Ndifreke’s Magic against Enyimba in Aba Akwa United’s right-back, Etim Mathew, has expressed confidence that the Promise Keepers have the wherewithal to conquer Enyimba International when the two teams will face each other on NPFL Match-day 12 today in Aba. Elsewhere in the Nigerian topflight, wounded Rivers United FC will take on Warri Wolves in another rescheduled Match-day 12 fixture at the Delta State Polytechnic Sports complex in Ozoro.

The Pride of Rivers lost their bid to remain in continental campaign to fellow NPFL side Enyimba in a 5-4 shootout at the Adokiye Amiesimaka Stadium in Port Harcourt last Sunday.

Now they are back to throw everything into winning a silverware in the domestic scene.

Back to Akwa United, Etim, an NPFL winner with Enugu Rangers in 2016, believes the quality of players and the technical depth in Akwa United are added advantages for them to win any match they play

irrespective of the venue.

“We are gradually beginning to get it right despite our slow start and the confidence in and around our team at the moment is such that we can comfortably take on any team in the NPFL and come out with a positive result.

“We have played against some tough teams already in the league this season and we have gotten some good results. I don’t think Enyimba will be different. “The truth is, we are not going to Aba for sight seeing, as a team, we are going there to fight for all three points and we believe it’s very possible,” he noted.

Etim, who is a key player in Coach Boboye’s team, insists he and his team-mates are determined to put in their best to ensure the Promise Keepers achieve their aim this season.

“We have a vibrant technical crew and some of the best players in this league.

Sometimes, we challenge ourselves as players to be more consistent and ready to give one hundred percent in every match we play.

Super Eagles...not yet world-classed team yet

Morocco 2021: Golden Eaglets Opponents to Emerge Today Five-time world champions Nigeria’s Golden Eaglets will know their U-17 Africa Cup of Nations group phase opponents today when the draw holds at the Monotel Dar El Barka Hotel in Nouakchott, Mauritania.

The ceremony, which will be conducted by CAF’s Director of Competitions, Samson Adamu,

will commence at 13hrs GMT (2pm Nigeria time) and will be broadcast on CAF’s digital platforms.

Fatai Amoo’s charges made sure of a place in the finals after reaching the final of the WAFU B U-17 Tournament staged in Togo last month, where they lost 2-3 to Cote d’Ivoire’s Baby

Elephants.

Both teams are flying WAFU B’s flag at the competition scheduled to take place next month in Morocco between March 13th and 31st.

Hosts Morocco, Algeria (North Africa); Cameroon, Congo (Central Africa); Uganda, Tanzania (East Africa); Zambia,

South Africa (Southern Africa); Cote d’Ivoire, Nigeria (WAFU B) and; Mali, Senegal (WAFU A) are the teams qualified for the finals and whose names will be in the pots this afternoon.

Nigeria won the FIFA Cadet World Cup in 1985, 1993, 2007, 2013 and 2015.

N AT I O N A L P R I N C I PA L S ’ C U P

Govt College Kaduna to Arrive Lagos Today for Opener Igbobi College battle-ready to make wave at Agege Stadium Players and officials of Government College, Kaduna are expected to arrive Lagos today for the opening match of the National Principals’ Cup football competition slated for Friday.

The Kaduna boys have a date with Igbobi College, Lagos in the opening match of the developmental competition slated to take place at the Agege Stadium on Friday morning (11am).

A total of 18 players and three officials are expected to arrive Lagos together with the Principal of the school today.

The competition is a project of the Federal Ministry of Youth

and Sports in conjunction with the marketing consultants and organisers of the event, Hideaplus Limited and the event is open to all secondary schools in the country.

The Minister of Sports, Sunday Dare, has reassured stakeholders that the ministry was committed strongly to the National Principals’ Cup because of its importance.

Dare said: “We expect this event to bring back the lost glory in football at age-grade level especially now that our U-17 and U-20 teams struggle in continental competitions.”

The Managing Director of Hideaspus, Tony Pemu, said all

arrangements have been concluded for a very exciting Kick off of the tournament.

Pemu said: “We have been on this for close to one year and we expect a good take off on Friday after which the preliminaries will start across the states of the federation.

“I want to thank the Minister of Sports, Dare, for his huge support and fatherly role played as we go about this project. We want to use the event to serve as feeder tournament for the age grade competitions especially the U-15 and U-17 competitions.”

Meanwhile, Igbobi College

players have intensified training ahead of the opening match of the event billed for Friday.

The school football team in the past two weeks has stepped up preparation at the school’s football pitch.

Former internationals like Henry Nwosu, Haruna Ilerika, Stephen Keshi, Adokiye Amiesimaka, Samson Siasia, Victor Ikpeba, Tajudeen Disu, Joseph Dosu, Franklin Howard, Paul Okoku, Chris Anigala, Godwin Odiye and Sam Bazuaye are some of the products of the Principals’ Cup competition.

Tiger Woods Hospitalised with Multiple Leg Injuries from Car Crash Tiger Woods was hospitalized after being involved in a singlecar accident in Los Angeles on Tuesday morning. According to his agent, Mark Steinberg, Woods suffered “multiple” leg injuries.

“He is currently in surgery,” Steinberg told Golf Digest, “and we thank you for your privacy and support.”

Woods, 45, was in California for a two-day content shoot with Golf Digest/GOLFTV after serving as host for the PGA Tour’s Genesis Invitational over the weekend.

Pictures surfaced on social media of Woods smiling with Dwayne Wade and David Spade at Rolling Hills Country Club on Monday, but with his movement still restricted, he did not hit balls or play any holes.

The shoot involved Woods giving on-course lessons to a number of celebrities, but he mostly provided instruction and hit a few putts. He was in good spirits on Monday but did not arrive to the course for the second day of shooting.

On Sunday, Woods told CBS’ Jim Nantz that he was awaiting the results of an upcoming MRI before he could ramp up practicing and training for a return to competition.

Woods last competed alongside his son at the PNC Championship, which finished on Dec. 20 in Orlando.

He then underwent a microdiscectomy procedure to remove a pressurized disc fragment that was pinching a nerve. It was his fifth back surgery overall and the first since

his spinal fusion in April 2017.

Tiger Woods in auto crash in Los Angeles

Wednesday February 24, 2021

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MISSILE

Adeyemi to Ikpeazu “In some states of Nigeria today, where we have highly intelligent people, highly educated people, very enterprising people, like Abia, they are governed by drunkards. The governor of Abia is a champagne drinking man” – Senator representing Kogi West, Smart Adeyemi, berating Governor Okezie Ikpeazu of Abia State for his poor performance.

MAGNUSONYIBE Okonjo-Iweala, Biden and Trump I GUEST COLUMNIST

n response to my piece entitled “Coup In The Capitol Hill And The Divided States of America” which was focused on the insurrection by extremists who stormed the Capitol on January 6, a security expert in the USA was so riled by my reference to the country as “Divided States of America (DSA)” that he literarily called me out.

He was critical of my uncomplimentary tagging of the USA as DSA. He did not give a hoot about my explanation that the title was apt as the USA had become so divided as evidenced by the 81m people that voted for Joe Biden who won the presidency, versus the 74m that voted for Donald Trump, that got defeated in the 3November, 2020 presidential elections in the USA and refused to accept defeat.

Tried as l did , he failed to be persuaded by my explanations that the pattern of the votes and behavior of the electorate suggested a huge division amongst Americans that bayed for Trump and those that kicked against him numbering up to 7 million more than those for him.

I also strived to no avail to sway my traducer away from his impertinence into accepting that a consequential fall out of the deep rift amongst voters in the USA is what snowballed into the 6 January storming of the Capitol by the insurrectionists intent on disrupting the procedures by the legislators from the 50 states of the union who had assembled to certify Joe Biden’s win in the electoral college votes.

My assailant was so peeved that instead of paying attention to my justification of the title, he questioned my locus standi for commenting on the seeming collapse of democracy in the country that prides herself as the bastion of liberal democracy and leader of the free world.

In his view , what right do l have to poke fun or comment on the status of the democracy in the almighty USA, particularly when l’m a citizen of Nigeria that is yet to figure out what the practice of democracy as a system of government is about ,how much more practice it in purity.

I ignored his asinine remark because l had concluded that the fellow who was trying to bully me must be a Trumpist.

Since l felt he must be living in denial , my response to him was simple and presented in the following manner : The brutal and savage attack on legislatorssenators and congressmen/women - by Trumpists and other political extremists during a joint session of Congress under the chairmanship of then Vice President Mike Pence in the process of certifying the electoral college votes from the 50 states affirming Joe R. Biden as the 46th president of the USA , was enough to demystify the world’s most powerful democracy. And it certainly did for me.

I reminded him of how un-American the invasion of the Capitol, the symbol of USA democracy is, and what a blithe on the country’s democracy credentials , the savage action of trying to over turn Joe Biden’s victory represents to lovers of democracy or its adherents like me world wide. I drew his attention to the fact that some democracy devotees like my good self that had become champions of democratic system of governance in my country of which the USA was the poster child or mascot, are still trying to pull ourselves out of the trauma and depression of seeing the Capitol, which had never been attacked until the British set the legislative seat of power on fire on 24 August , 1814 when it invaded the USA during the country’s struggle for independence . I then proceeded to bring to his notice , how bewildered and crest fallen l

Okonjo-Iweala was seeing the physical siege and desecration of the symbol of democracy by the extremists on the fateful 6 January, 2020.

That’s in addition to the fact that it was so absurd to me that then president of the USA, mr Trump was caught on tape trying to compel an official in charge of elections in one of the states to arbitrarily award him votes that he did not earn. l then added that the shenanigans were really so appalling and jarring to me that a seating president would invite state government officials to the White House where he would attempt to bully them into skewing electoral votes in their respective states in his favor.

Finally , l informed my interrogator that given that we practice presidential system of government in Nigeria , the bad example set on 6 January in the USA was bound to rub off negatively on politics in my country , hence l expressed my displeasure via the article that was deemed offensive to him.

I have no idea if he was assuaged or persuaded by my submission, but l’m convinced that the points that l made were enough for him to ponder and perhaps aid him in getting off his high horses.

On a personal note, the very critical reasons for writing the piece is that l was anxious to see the back of Donald Trump from the White House as the 45th president of the USA , principally because his administration, amongst other local and international perfidies and arbitrariness , was blocking the appointment of our own amazon -Ngozi Okonjo-lweala as the next president of the World Trade Organization,WTO. Here is how Okonjo-Iweala described in a recent media interview, her ordeal in the hands of Trump when she was vying to be the Director General of the WTO : “I think I was quite surprised when that came (opposition from Trump) because there was no indication that there was any problem with the US. “I had two good interviews with the authorities and with the administration so it was a surprise.

But that’s the way life works. When things happen, you take them in your stride and you move on.

“It was absolutely wonderful when the Biden/ Harris administration broke that logjam. They joined the consensus and gave such a strong endorsement to my candidacy. They joined the other 163 members to endorse my candidacy.”

Unlike Okonjo-lweala, l’m not surprised

that Trump opposed her candidacy and my pessimistic prognosis is derived from the fact that the same Trump had also referred to Nigeria as a ‘ shit hole’ country , affirming his racist tendencies, inclinations and attitude towards members of black and brown communities and even extending to Africans on the continent.

By also trying to literarily kill the dream of kids born in the USA also known as DACA (a lot of them Nigerians) via a policy of preventing them from getting a secure pathway to becoming citizens if their parents were not bonafide American citizens,Trump revealed that he lacked empathy or exposed his meanness.

Now ,contrary to former president Trump’s abrasive leadership style, president Biden has amongst a slew or deluge of reversals of Trump’s obnoxious policies, resuscitated DACA that was introduced via executive order under the watch of the 44th president of the USA , Barack Obama whom he served with as Vice President . The policy which espouses 8 years time lag to get to citizenship by immigrants is poised to be one of president Biden’s biggest hurdles to scale , perhaps second in importance to the Affordable Care Act(ACA)otherwise known as Obamacare that was under threat of cancellation by Trump, but also currently receiving parliamentary attention .

It is amazing how the 46th president, Biden is such a contrast to the 45th , Trump.

While Biden is an empathetic and liberal leader with a mission to unite white and black as well as blue and red Americans, even as he seeks to reignite America’s sparkle as a force for good all over the world, Trump was a champion of white supremacy to the extent that he did not only divide Americans, but ostracized people from major parts of the world as he tangoed or faced- off with China , lran , North Korea and even some countries in Europe-a continent with a preponderance of countries that are joined in the hips with America.

Under president Biden’s leadership , the USA has just donated a whopping $4b to COVAX- a World Health Organization , WHO co-ordinated fund for sourcing COVID-19 vaccines in support of people in under resourced countries worldwide.

Compare and contrast such Biden’s public spiritedness with Trump’s -the man who as the president of the USA,the wealthiest country in the world-only donated ventilators that were no longer needed in the USA to African countries including Nigeria. Perhaps the gesture by mr Trump is a demonstration or in furtherance of his reckoning that only crumps are good enough for Africans that he disdainfully referred to as people from ‘shit hole’ countries.

His racist tendencies were not restricted to just blacks in America, but he was projecting it far beyond. With his America First mantra , ex president Trump espoused and promoted the insularity of the USA by projecting to the vulnerable members of the global society that the USA is no longer ‘their brothers keepers’ , yet he wanted to have influential control over Africa Development Bank, ADB, the World Health Organization, WHO, the World Trade Organization,WTO and other Breton wood institutions.

How do l know that ?

Under president Trump’s watch , the USA had tried very hard to torpedo Akinwunmi Adesina’s bid for re-election as African Development Bank, ADB president. The ADB president was accused of financial malfeasance by a USA representative on the board of the bank. But after several internal probes and a repeated probe by an independent panel absolved him of any malpractice, the USA had no choice but to capitulate by accepting

Akinwunmi Adewunmi’s re-election .

By the same token , the WHO, Director General, Tedros Adhanom Gbebreyesus was clobbered

by Trump over his alleged mismanagement of covid-19 pandemic, and allegedly for pandering to the Chinese , according to Trump’s reckoning.

His only escape from Trump’s racist cudgel is because the Make America Great Again, (MAGA)exponent lost his re-election bid to mr Biden who has now offered the Ethiopia born DG of WHO, a new lease of life by returning the USA to the global health organization as a major donor .

Characteristically, Trump and his administration’s streak for literarily sticking dagger into the heart of Africans became manifest once again when he constituted a stumbling block on the path of our own amazon , Ngozi Okonjo-Iweala as she was vying for the role of Director General for WTO. Even after 163 countries had endorsed the Harvard and MIT-ivy league institutions-educated development economist for the job, the USA under Trump’s presidency remained a lone dissenter and a clog in the wheel of progress as he threw his weight and that of the USA behind South Korea’s trade minister , Yoo Myung-hee.

Obviously, America’s public policy under former president Trump had become stuck like a bull trying to walk on quicksand that it needed to be rescued by a regime with a more robust and accommodating world view.

Fortuitously ,it is not only the WTO logjam that has been eased up, the Biden/Harris administration has for all its intents and purposes practically started untangling the administrative nooses that the immediate past president Trump’s administration tied the system down with in pursuit of his America First and Make America Great Again, (MAGA) mantra.

As an administration on a rescue mission, team Biden/Harris now looks like a lawn mower in a garden that had been left unattended to by an irresponsible and perhaps reckless homeowner/ tenant or at best a snowmobile clearing up the pathways after a snowstorm in the manner that the blizzard that recently hit the USA is being cleared up , particularly in the fossil fuel rich state of Texas.

Without a shred of doubt, the reputation of the USA as the epitome of democracy sunk , as my faith in the unequalled, unparalleled , indisputable and towering position of the that country as the face of democracy in this century symbolized by the Statue of Liberty whose imposing presence in New York habor beckons visitors to the great, USA, the land of the free and where all humans can be what they can be irrespective of their color or creed , was questioned by that 6 January invasion of the Capitol by those that l have, perhaps mockingly described as coup plotters.

Incidentally, l’m not alone in tagging the USA as the Divided States of America, DSA after the abhorrent behavior put up by right wing politicians and extremists who are essentially Trump supporters.

Fareed Zakaria, a CNN anchor for the talk show Fared Zakaria GPS had shortly after my article also titled his special report on the 6 January breakdown of law and order in the Capitol as “The Divided States of America- What’s Tearing Us Apart” a documentary which was broadcast on CNN , 29 January. rOnyibe, an entrepreneur, public policy analyst ,author, development strategist, alumnus of Fletcher School of Law and Diplomacy, Tufts University, Massachusetts, USA, is a former commissioner in Delta state government

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