Issuu

Gencos: Nation in Darkness Because We are Owed N1.6trn Since 2013 NBET disputes power generators’ debt claim Emmanuel Addeh in Abuja Power Generation Companies (Gencos) under the Association of Power Generation Companies (APGC) yesterday stated that the

power supply situation in the country was worsening because they were owed over N1.6 trillion since 2013. APGC's Executive Secretary, Dr. Joy Ogaji, in a briefing in

Abuja, argued that a situation where the energy dispatched by the power generators was used as an index for power generation capacity was detrimental to their survival.

In the past couple of weeks, the already bad power supply situation in the country had worsened as players in the sector continued to trade blames as to whose table the buck stops.

“We are currently owed N1.644 trillion. One of the reasons that the power plants are down is due to inefficient management of the grid,” Ogaji said. According to her, the

Gencos have exhausted all their borrowing sources, as the Central Bank of Nigeria (CBN) had reportedly warned the banks Continued on page 6

Fuel Scarcity to End in Matter of Days, Says FG... Page 6 Monday 14 March, 2022 Vol 27. No 9834. Price: N250

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APC Crisis Stalls Defection Suit against Tambuwal, Ortom, Obaseki... Page 50

Osinbajo: Buhari and I Have Not Had Any Religious Dispute in Seven Years Wants religion to be used for unity, improvement of people's lives Deji Elumoye in Abuja The vice president, Professor

Yemi Osinbajo, declared at the weekend that in the last seven years of working with President

Muhammadu Buhari, there has not been any religious dispute between them.

Osinbajo called on religious leaders to use faith to unite the country and improve the

lives of the citizens. The vice president spoke while playing host to the

Senegal-based Grand Khalifa Continued on page 6

APC Moves to Retain Buni as Interim Chairman, Bello as Acting Chair John Akpanudoedehe’s fate uncertain Group alleges fresh plot to sack Yobe gov through court injunction Party moves to have court injunction stopping convention vacated Chuks Okocha and Adedayo Akinwale in Abuja In a dramatic turn of events, leaders of the ruling All Progressives Congress (APC) may have agreed to keep Yobe State Governor Mai Mala Buni as Interim Chairman of the party’s Caretaker/Extraordinary Convention Planning Committee (CECPC), while Niger State Governor Sani Bello functions as de facto chairman, though in acting capacity while Buni remains away. Buni had travelled for medical reasons and transmitted power to Bello in writing to act as the CECPC chairman. It was gathered yesterday that the party is maintaining the letter of transition remains in force even as Buni remains interim caretaker chairman. . However, it is not clear what they would ultimately do with Buni, as there is a move by some party stakeholders to have him impeached. Also, the Continued on page 6

ACCESS BANK POLO DAY IN CAPE TOWN... L-R: Executive Director, Coronation Merchant Bank, Aigbovbioise Aig-Imoukhuede; Charl Du Plessis; Berdine Odendaal; Raj Madha and James Adams; Chairman Coronation Capital, Aigboje Aig-Imoukhuede; Doreen Wigwe; GMD/CEO, Access Bank Plc, Herbert Wigwe, and Group Deputy Managing Director, Roosevelt Ogbonna, at the cup presentation to Chukker II Team, winners of the Emily Aig-Imoukhuede Memorial Cup, during the Access Bank Polo Day held at Val de Vie Polo Club, Cape Town, South Africa…recently

Aiteo Denies Fresh Leak in its Facilities, Decries Incessant Attacks on Oil Assets... Page 10

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Fuel Scarcity to End in Matter of Days, Says FG Insists product now available across states, FCT Saraki faults 70m litre daily consumption claim Dismiss zoning arrangement for 2023 presidential poll Says he has what it takes to lead Nigeria Deji Elumoye, Chuks Okocha and Sunday Aborisade in Abuja A plan endorsed by President Muhammadu Buhari to conclusively end the current fuel scarcity around the country in a matter of days is in progress. A top presidency official who disclosed this yesterday, said in a matter of days, every state in the country would have returned

to a very low queue situation at filling stations or a completely restored situation with no long queues anymore. According to the source, the plan which was presented to the Federal Executive Council (FEC) last week, had been signed off previously by President Muhammadu Buhari before he left the country last week Sunday, with clear goals that included a conclusive determination

on the initial cause of the scarcity with attendant consequences imposed. The source explained that the plan which was drawn up by the Nigerian National Petroleum Company’s (NNPC) executives had gotten the endorsement of the president and the praise of the vice president, especially because of the 24-hour round the clock operations, including 24-hour sales in major

supply centers in the country and the 24-hour continuous loading at all depots coordinated personally by the Group Managing Director, NNPC, Mr. Mele Kyari himself with the active participation of the Director-General of the DSS, Alhaji Yusuf Bichi. The source said, "the plan is designed to do everything necessary to end the scarcity quickly and hold those responsible for it in the first

instance responsible so as to avoid a repeat. Indeed, under the Buhari administration what used to be an incessant and recurring decimal of fuel scarcity had been reduced to it barest minimum until the recent case of adulterated PMS, an incident that incurred the president's wrath.” The 24-operations also has an enforcement element with monitoring teams, "to prevent any act of sabotage and ensure

smooth operations.” "That 24-hour operation also included the direct participation and support of members of the Major Oil Marketers Association of Nigeria (MOMAN), Independent Petroleum Marketers Association of Nigeria (IPMAN) and private depot owners. "By the end of last week, the

Buhari had assured party members before departing the country for his medical trip, that he would do everything to ensure the convention holds as scheduled on March 26. Meanwhile, the All Progressives Congress Youth Development and Solidarity Network (APC-YDSN) has alleged fresh plot by some APC Governors to get a court injunction to effectively sack Buni as CECPC Chairman. The Secretary General, Mr. Tobias Ogbeh, made this allegation while addressing a press conference in Abuja, yesterday. The group said after the failed leadership change in the party, there had been concerted efforts to use the instrument of the court to achieve their objective of effecting a change in the leadership of the party. The group stated: "As we may be aware, some governors within the party have attempted to change the leadership of the APC Caretaker

Extraordinary Convention Planning Committee under Governor Mai Mala Buni. "As despicable as this might sound, there has been an attempt at effecting a change in the leadership of the party, not on the strength of the interest of the party, but in furtherance of a blind ambition towards taking over the party structure through the back door in the buildup to the 2023 general elections. "We wish to state that we have it on good authority that since the humiliation suffered by the sponsors of the failed leadership change in the party, there have been concerted efforts to use the instrument of the court to achieve their objective of effecting a change in the leadership of the party." The group warned judges and other officers in the legal profession to refuse to be used as pawns to truncate the democratic processes in Nigeria.

Continued on page 49

APC MOVES TO RETAIN BUNI AS INTERIM CHAIRMAN, BELLO AS ACTING CHAIR fate of the CECPC Secretary, John Akpanudoedehe remains uncertain in all the permutations and intrigues playing out. Just last weekend, as part of intense lobby going on in the ruling party, former leaders of the defunct Congress for Progressive Change (CPC) stormed London, where President Muhammadu Buhari is currently undergoing routine medical check-up, to persuade him to give more room to members of CPC,, one of the legacy parties that merged to form the APC before the 2015 general election, claiming they have been thoroughly marginalised in the scheme of things. Interestingly, according to observers "central London Mosque, was overtaken by Nigerians, including ministers, governors, and many high net worth people, during Friday jumat prayers. As politicians have flown to London to lobby the President ahead of 2023 elections.." Under the new arrangement, Buni officially remains the interim CECPC chair as he was never legally removed in the first place, and since he transmitted a letter to Bello to act in his absence, that automatically confers his powers on Bello. And Bello would continue in his acting role which by implication means he would be carrying out the day to day running of the party. Meanwhile some of Buni's supporters believe he may return to the country this week while others want him to remain abroad until after the convention. The Party's National Convention slated for March 26, THISDAY learnt will hold as planned. Reliable sources in the presidency disclosed these yesterday, stressing that only a properly constituted National Executive Committee (NEC) of the party can remove the Buni-led CECPC. Bello had announced a few days ago that he had taken over affairs at the APC national headquarters, disclosing that he was acting as Chairman in the absence of Buni. He has called a NEC a meeting which INEC said was out of order because the letter was not signed by Chairman Buni and the Secretary, John Akpanudoedehe In the turn of event the President's Legal Adviser may have appealed to him to allow Buni remain as interim chair while Bello continues as acting chairman. According to one of the sources, some of the president’s associates noted that by the framework of

the Party’s NEC, Buni was never removed as CECPC chairman. "You cannot even be talking of return, when he was never removed, in the first place," a presidency source said. The alleged removal of Buni had unsettled the party, causing division among APC governors and top stakeholders, with some alleging that the Yobe State governor was plotting to scuttle the party’s national convention. While some expressed satisfaction with the development, the Independent National Electoral Commission (INEC) rejected a letter inviting it to an emergency meeting of the party’s NEC, where Bello’s chairmanship was to be ratified. What has become apparent is that majority of the governors, in their bid to oust Buni by all means, failed to reckon with INEC. They thought they had succeeded, well, almost, and they had started to celebrate victory, until INEC threw a spanner in the works. The commission’s position, among other issues, led some from Buhari’s inner circle of advisers to meet with him at the weekend. Shedding light on the outcome of the meeting with the president, a source pointed out that Buhari informed those in attendance that his desire was to see that the convention was held as planned. Buhari also wanted to see a smooth, democratic and popular contest that would lead to the birth of a brand new National Working Committee (NWC) of the party, the source said. According to the source, “The president was persuaded that there was a process that needed to be followed to remove the Buni-led CECPC. The NEC of the party is the highest administrative organ of the party, which takes very important decisions in terms of removal and appointment of the party leadership. Buni was not appointed by an imperial authority with the power remove him. “Since the decision to appoint him was taken by NEC, it is only NEC that can remove him. So, Buni was never removed, in the first place. Certainly, if he personally withdraws, resigns or a NEC meeting takes place to remove him, then we can be talking about having a new CECPC chairman. “None of that has taken place; so the idea of removal does not arise. However, the party may come up with an arrangement to allow for certain processes to take place, particularly relating to conventions.

“But Buni may decide to take the back seat to allow the convention process to take place, if he does that, then fine. However, the idea of concluding that he has been removed does not arise.” Buni was blamed for withholding information from Party leaders about a court injunction stopping the party from going ahead with the convention. The Party has since set machinery in motion to have the injunction vacated this week to enable the convention hold. A faction of the APC governors was alleged to have complained bitterly to the president that Buni was not inclined to holding the convention as rescheduled, because there were no preparations on the ground to indicate so. Apparently miffed by the what he was told, the president was said to have immediately directed that Buni be removed and replaced. Buni is currently in Dubai for medical reasons and was not around to

defend himself. Another source at the meeting explained that Buhari was convinced of the need to allow Buni to to continue as interim chairman which the president was said to have accepted to save the party from danger. The source also revealed that another contentious issue that was discussed was the president’s purported endorsement of former Nasarawa State Governor, Abdullahi Adamu, for the position of APC National Chairman. There have been intense lobby for the President to drop Adamu and allow for a contested convention. Most of the other aspirants have kicked against the President's purported endorsement of Abdulahi Adamu. The lobby to drop Adamu was said to have intensified at the weekend as some governors are preparing to jet to London to mount pressure on Buhari to change his mind on Adamu.

GENCOS: NATION IN DARKNESS BECAUSE WE ARE OWED N1.6TRN SINCE 2013 to desist from lending money to them. She stated, "If you give us gas, provide forex to carry out maintenance. I have told you most of the units are down and they need money to fix them. "Give us enough money to pay our gas suppliers because it is pre-payment. But for power, it is take and pay later. There is no way that this misalignment will help us.” But Ogaji stated admitted that at the moment, the Gencos were generating an average of 4,000MW. However, the debt claim by the Gencos was immediately refuted by the Nigerian Bulk Electricity Trading Company (NBET). NBET disputed the figures quoted by the power generators, saying only companies with active gas supply and transportation contracts are paid for unutilised capacity. The Head, Corporate Communication, NBET, Henrietta Ighomrore, explained that in the country, only five power generation companies with active Gas Purchase Agreement (GPA) were entitled to be paid for unused capacity. According to her, claims that the Gencos have the capacity to generate 9,000MW are not accurate, as inspections by NBET had shown that the so-called capacity does not exist.

Earlier, Ighomrore argued that the Gencos had always been paid as and when due, explaining that in the last payment cycle alone, the Gencos were paid N38 billion for electricity distributed on the grid. According to her, NBET has paid the Gencos over 90 per cent of their invoices. She noted that the company paid the generators almost immediately remittances from the Discos were received. However, Ogaji noted that the illiquidity caused by the huge sums owed the Gencos by NBET had continued to frustrate them and render them incapable of meeting their obligations. Such obligations, she said, included Operations and Maintenance (O&M) as and when due, procurement of critical capital, spare parts and accessories, payment, and servicing of existing loans from lenders and financiers and employee- obligations. Ogaji listed foreign exchange as another challenge faced by the hydroelectric power plants, whose concession fees, she maintained were “dollarised.” She said most of the electricity generated in Nigeria came from gas-fired turbines, explaining that Gencos have consistently been dealing with unending gas-related challenges, which inhibit optimal generation.

According to her, issues of gas volume, gas quality, gas pressure and gas transportation have consistently curtailed capacity utilisation by Gencos thereby affecting generation. Ogaji stated, “Unfortunately, the unenforceable state of the contracts in the NESI and the broken cycle of payment assurance has made the enforcement of what would ordinarily be basic obligations of parties to the industry agreements, impossible. “Since 2013 when the power sector was partially privatised till date, weak and inadequate infrastructure (transmission and distribution) have continued to render inconsequential, a significant portion of the generation capacities recovered or added by Gencos through huge investments done by them to increase their respective generation capacities.” According to her, while the owners of the Gencos invested and increased generation capacity up to 13,000MW across the country, no corresponding investment and improvement was made at the transmission and distribution ends. The result, she said, was the significant stranded capacity of Gencos. Ogaji added, “The persistence of this anomaly over these years, compelled Gencos to begin to question the commercial

reasonability of continued investment in recovery or expansion of generation capacity that would end up being stranded and not utilised to transmit and distribute electricity to end users who are yearning for same.” She said the foundational agreements, which Gencos were told existed before, no longer exists, after they had commenced performance, with dire implication for power generators. Ogaji stated, “We should address the root cause and not the symptoms, for sustainability of the NESI and the power sector. “The current state of the national grid must be addressed, otherwise we will continue to always deny Nigerians their legitimate expectation of unhindered rights to reliable supply of electricity.” Checks by THISDAY revealed that all the parties’ positions were not entirely accurate. Firstly, it is wrong to claim that only five generation companies have gas supply agreement, meaning that there is no level playing field. Further checks revealed that the Gencos were being owed not only capacity charges but also for interest and energy charges as well - value which is yet to be determined. And also the forex issue is not restricted to hydros alone, but it affects gas fire and thermal plants as well.

president as a great personality, the type needed both in Nigeria and Africa. Sheikh Niass stated, “The vice president is a great personality with an exceptional character, standing on two feet: one as a political leader concerned about the progress of his people and the second, as a man of God. “Africa needs a person of your nature with very strong background in religion and politics. I pray that the Almighty Allah will upgrade you and enable you achieve your desires and aspirations because, like I said, not only Nigeria but Africa will benefit from your leadership qualities.” He added that Nigeria "is the heart of Africa and whatever

Nigeria becomes, Africa becomes." The Tijjaniya leader also expressed the group’s gratitude to Buhari for his support, while praying for his safety and that Nigeria would overcome all its challenges. Osinbajo promised to convey the Sheik’s warm greetings and appreciations to the president. He also prayed for peace in Nigeria, Africa, and the world. The Grand Khalifa of Tijjaniya worldwide and other members of the movement from across Africa had converged on Gusau, the Zamfara State capital, to celebrate the 36th International Maulid Anniversary in honour of the movement's late leader, Sheikh Ibrahim Niass.

OSINBAJO: BUHARI AND I HAVE NOT HAD ANY RELIGIOUS DISPUTE IN SEVEN YEARS of Tijjaniya Movement Worldwide, His Eminence, Sheikh Muhammadu Mahi Ibrahim Niass, at the State House, Abuja. Osinbajo described Buhari as a leader who accommodated people of different religious backgrounds, citing his relationship with the president spanning over seven years as a perfect example. According to Osinbajo, “President Buhari is a serious Muslim and I am a pastor, both of us have worked together for about seven years, we have not had any issues. “The president has shown great leadership, he has shown that he wants a country where people of different faiths live

in harmony and with love for one another.” The vice president also stressed that beyond the spiritual upliftment of individuals and communities, religious leaders should use faith to promote peace, prosperity, and development of society Osinbajo, who emphasised the importance of religion in human development, said, “We must use our faiths to promote peace and prosperity for our people. We need to work together to ensure that our people benefit from religion. “We tend to underestimate the importance of religion, despite the fact that it plays a key role in the development of the society, not just in the

spiritual aspect, but also physical. “There are many nations of the world that have benefitted from the impact of religion, both spiritually and physically. So, we must use religion in our countries (in Africa) to help our people to live better lives because in other parts of the world, leaders of faith have used religion to better the lives of the people.” Speaking further on the need for leaders of faith to close ranks for the purpose of using religion to address emerging challenges in the society, the vice president noted, “No matter what the situation may be, we in Africa must be able to sit together and talk. We must

never allow situations where we cannot sit together. “With what is going on across the world, people of faith must continue to emphasise that both major religions (Islam and Christianity) promote peace and we must allow our people to practise whatever religion they want to practise.” Osinbajo praised the leader of the group, while commending the Tijjaniya Movement for its progressive ideals and compassion for the needs of the people. Earlier in his remarks, Sheikh Niass, who spoke in French with interpretation by a spokesman, thanked the vice president for the opportunity to meet with him. He described the vice

MONDAY MARCH 14, 2022 • T H I S D AY

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Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 08074010580

AFROZON'S DUBAI SEND FORTH DINNER... L-R: Founder, Princewill Trust, Prince Tonye Princewill; Lineo Didi Kilgrow Oyebanjo; Founder, Kiza Dubai, Joe Osawaye; D'banj, and Manager, Dubai Department of Economy and Tourism, Stella FubaraObinwa, during Afrozon’s Dubai send forth dinner held at Kiza, Financial Center, Dubai...recently

Report: Nigeria will Require $100bn in 20 Years to Fix Power Supply Challenges Says movement of investors to friendlier nations pose threat to Nigeria Emmanuel Addeh in Abuja A new report by Financial Derivatives Company (FDC) Limited, a research firm which provides insights for investment decisions, has disclosed that Nigeria will require about $100 billion funding spread across the next 20 years to solve its electricity supply challenges. According to FDC, the faster and efficiently this needed funding takes place, the more the increase in investor appetite towards the sector. It stated that if Nigeria is ready to do the hard work by successfully implementing reforms, investors are willing to actively participate in the power sector through partnerships, joint ventures, training of personnel and building of transmission and distribution infrastructure. The unique factor, the report said, is that Nigerians have proven to adapt to situations quickly, thereby assuring that they will pay more with improved and reliable power supply. The document however explained that the government has to do its part first, by addressing the numerous issues pervading the sector and affecting output. “The country will require significant investments to achieve reliable power supply in the short to medium term. “The estimated amount needed is about $100 billion over the next 20 years. The government also needs to hasten its steps to close the metering gaps as about 50 per cent of the total population is still on estimated billing,” it stated. Stressing that the Nigerian economy had been heavily dependent on generators for electricity supply, given power sector data assessment from the National Bureau of Statistics (NBS), the report said that this contributes as much as 48.6 per cent of the electricity consumed by both families and enterprises across the country. Of the estimated $100 billion in investment required to bridge the gap, FDC noted that renewable energy sources are likely to form the bulk of Nigeria’s energy solutions as global warming and

climate change restrict investment in traditional energy sources. According to FDC, over 80 per cent of the 28.9 million households in Nigeria do not have access to electricity generated from the national grid, reasons being the inadequate investments and a wide infrastructure gap. The country’s power generation, it stated, is mostly thermal (80 per cent) and hydro (20 per cent) with an installed capacity of about 12,522MW while at least 40,000MW is needed to meet the country’s electricity demand. “However, monthly, the national grid struggles to provide a little over 4,200MW, which is 66.46 per cent and 89.5 per cent below the installed and potential capacity. “More so, the government privatized 11 electricity distribution companies and six generating companies while retaining 100 per cent ownership of the Transmission Company of Nigeria (TCN). “Interestingly, Nigeria, which has the lowest electricity consumption per capita in Africa, supplies power to the Republic of Benin, Congo and Niger under the West African Power Pool (WAPP) agreement for ECOWAS countries,” it stressed. FDC noted that while reflective pricing of electricity has its immediate pitfalls, the medium to long term perks are undeniable. However, it explained that are underlying structural bottlenecks including policy uncertainty, labour union issues, poor maintenance, weak implementation and monitoring culture, and abandonment have made the specific reforms in the power sector unable to yield the desired result of increasing private investments. “Business confidence is low, and investors are sceptical about the Nigerian economy. “Erratic and unexpected changes in government policies without adequate checks and balances due to weak institutions play a huge role in tapering investment inflows into this sector, hence, providing a bleak outlook for the country’s capacity to achieve nationwide electricity any time soon,” it noted. However, if these issues are

addressed in a timely and efficient manner, the report stated that “there is light at the end of the tunnel.” It listed policy uncertainty, lack of transparency, poor monitoring and implementation, inefficient industry practices as some of the challenges , pointing out that investors need to be assured that prices will reflect their cost of operations. While the immediate impact of cost reflective electricity prices is an increase in living costs for consumers, however, in the medium term, other things being equal, the report noted that power supply will increase and become more reliable.

It added that self-generation for power ultimately increases the operating costs for both households and businesses, maintaining that if this continues, the probability of an increase in divestment of resident businesses to other friendly African countries poses a huge threat to the Nigerian economy. FDC noted that for the power sector to be more efficient in power transmission and distribution, the government needs to heavily invest in high grade infrastructure and training of industry personnel. This, it stated, will substantially expand the power transmission network and capacity, allowing

distribution companies to improve reliability and supply to consumers. It called for increased investments in smart grid technology, electricity equipment and provision of adequate energy storage facilities which will significantly support the country’s electricity generation. Nigeria, it explained , currently imports a large percentage of its electricity equipment due to low output and expertise. The report said that the best place to start is by making substantial provisions for the sector in the budget for the fiscal year, rather than heavily depend on borrowings and handouts from

multilateral institutions that could worsen the country’s debt profile. “In addition, transparency in government practices within the sector that will in turn stimulate investment and taper investor scepticism are imperative. “Beyond addressing infrastructural issues, there is need for strong institutions to checkmate government policies to reduce uncertainty and increase business confidence. “Also, the government needs to encourage local business that could provide raw materials needed within the sector as this would reduce import costs and support government revenue,” it added.

FG’s Earnings from Solid Minerals Rose to N624.45bn in 13 Years Sector contributed N128bn in 2020, N2.76bn owed government Six states produce 66% of Nigeria’s solid minerals 80% of exports went to China in 2020 Emmanuel Addeh in Abuja The federal government’s earnings from the solid minerals sector climbed to N624.45 billion in the last 13 years, a new report by the Nigeria Extractive Industries Transparency Initiative (NEITI), yesterday indicated. However, NEITI revealed in the document covering the year 2020, that 2,119 companies operating in the sector in the country's solid minerals space still owed the federation over N2.76 billion in statutory annual service fees for respective mineral titles. The organisation noted that the total revenue contributions from the sector in 2020, rose to N128.27 billion, which was an increase of over 54 per cent from the N74.85 billion recorded in 2019 despite the Covid-19 pandemic. It also revealed that the sum of N8.89 billion was shared to the federating units as solid minerals revenue in 2020, stressing that 6,010 existing solid mineral titles were valid as of 31st December 2020, while 7,605 mining titles were

issued in the industry in the past five years. A breakdown of the earnings showed that the federal government received N4.07 billion (45.83 per cent), states and local governments received N2.07 billion and N1.59 billion (23.25 per cent and 17.92 per cent) respectively, while N1.16 billion (13 per cent) was recorded as derivation share. On the areas covered, NEITI stated that the independent industry report tracked and reconciled financial flows in the sector, checked quantities of minerals produced, utilised and exported in 2020. It also examined the governance and process issues in the sector, outlined key findings and made far-reaching recommendations that require urgent remedies, it added. For instance, it disclosed that 71.1 million metric tons of minerals were produced in 2020, with a breakdown showing that the production of granite, limestone, sand and laterite were the highest contributors to minerals royalty payments recorded within the period.

NEITI further disclosed that five states of the federation topped the table, contributing 66 per cent of solid minerals produced in the country that year. These included Ogun, followed by Kogi, Cross River, Edo and Bayelsa States. On companies' activities that shaped business investments in the solid minerals sector, the report identified Dangote Cement Plc as the first, followed by Lafarge Plc, BUA International as well as Dantata and Sawoe with the highest production accounting for about 64 per cent of the total mineral production volume in 2020. NEITI further disclosed that total minerals exports in 2020 was 32.99 million tons valued at $42.46 million, while China with 80 per cent of the total exports remained the major destination for Nigeria’s solid minerals exports. From the report, a total of N3.87 billion was recorded in 2020 as social expenditure, representing an increase of 49 per cent over the amount expended for the same purpose in 2019.

Besides, N5.8 million was documented as environmental expenditure by three companies in the year, while information on Community Development Agreements (CDA) was not disclosed. The report further revealed that out of Nigeria’s total Gross Domestic Product (GDP) of N152.32 trillion in 2020, the solid minerals sector contributed N686.64 billion representing only (0.45 per cent) while the sector's contribution to the country's exports during the period was a mere 0.14 per cent. The report underlined the urgent need for the government to invest aggressively towards the development of the solid minerals sector to maximise its potential for the future of Nigeria's economy. Furthermore, 26 recommendations were made, one of which was the need to commence and intensify comprehensive reforms in the solid minerals sector, starting with the establishment of a public-private-state-owned enterprise (SOE) to lead and drive investments in the sector.

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FUNDRAISING AND GALA/AWARDS... L-R: Bayelsa State Governor, Senator Douye Diri; his wife, Justice Patience Diri, and Chairman, Wayles Group of Companies, Chief Victor Egukawhore, during the fundraising and gala/awards of Government Secondary School, Odi Alumni Association held at Yenagoa…recently

Aiteo Denies Fresh Leak in its Facilities, Decries Incessant Attacks on Oil Assets Mulls total exit from Nembe trunk line

Emmanuel Addeh in Abuja Aiteo Eastern Exploration and Production Company (AEEPCO), yesterday denied reports that a new leak had been discovered at its Nembe Creek Trunk Line (NCTL) pipeline within its OML 29 facilities, describing the imputations as factually incorrect. Stressing that there is no iota of truth in any aspect of the story, which it said had been emboldened by “some of the most irresponsible journalism” on the internet, the oil company stated that there was even no attempt to verify the story with its team. A statement by the management

of the indigenous oil firm stated however, that since the last incident on its Santa Barbara well, at least there had been two attacks on its assets, leading to a shutdown of the affected lines. “AEEPCO has become aware of news now in circulation of the alleged occurrence of a fresh leak from the (NCTL pipeline within our OML 29 facilities. “This information is factually incorrect; maliciously false; disgracefully incomprehensible and, yet again, the circulation of potentially damaging falsehood orchestrated by entities whose primary preoccupation appears to consist of ill-articulated efforts

Buhari Rejoices with Ex-Foreign Affairs Minister, Olisemeka at 90, WAEC at 70 Deji Elumoye in Abuja President Muhammadu Buhari has rejoiced with elder statesman and former Minister of Foreign Affairs, Ambassador Ignatius Chukuemeka Olisemeka, on his 90th birthday. The president joined the career and political diplomats, who closely worked with him over many years, to celebrate the milestone. The president also celebrated the West African Examinations Council (WAEC) on the 70th anniversary of its establishment. The president in a statement by his Media Adviser, Femi Adesina, yesterday, felicitated with Olisemeka's family, friends and associates as they rejoice with the nonagenarian, whose imprint on Nigeria’s international relations remains strong and relevant, sustaining relations with countries, multilateral institutions and foreign investors. Buhari extolled the career diplomat’s discipline, diligence and social skills in winning and keeping friends for the country, building a strong network and inspiring younger diplomats on the value of healthy and functional relations, especially in attracting goodwill, which translates to growth and development in the highly globalised world. Also yesterday, Buhari felicitated with WAEC on the occasion of its 70th anniversary, which also coincides with the

70th annual council meeting being hosted in Abuja, Nigeria from March 14 to 18. As a proud founding member of the foremost examining board for the people of West Africa, Buhari affirms that Nigeria values the shared commitment with other Members of the Council and would continue to engage with other partners to achieve the Council’s mandate of maintaining quality educational standards that prepare the next generation to meet the challenges of the 21st century. The president noted with delight that for the last 70 years, the West African examination body has brought the Englishspeaking West Africans together to encourage academic and moral excellence through a qualitative and reliable educational assessment. As delegates to the 70th council meeting deliberate, reflect and celebrate the gains of the decades, the Nigerian leader urged them to remember the core values of excellence, integrity, professionalism, accountability and transparency, at the heart of WAEC, and stand firmly by them. The president believed that just as member-nations have survived a difficult year marked by the COVID-19 pandemic and in some countries, previous years of internal conflict, this cherished education institution would continue to thrive as a world-class examination body.

aimed at denigrating our company’s sterling industry reputation. “We confirm, unequivocally, that there is no iota of truth in any aspect of this story, the indiscriminate circulation of which has been emboldened by some of the most irresponsible journalism in the internet media. This is especially so because no attempt has been made to verify the story with us,” the firm stated. However, it noted that since the last leakage at its Santa Barbara South Well 01, the two other infractions that took place were of significantly less impact and had been duly notified to all regulatory agencies. According to Aiteo, while the first incident occurred on 31 January 2022 at the Nembe well 63L, the second was a suspected interference on the NCTL around Nembe 4 on the 11 February, 2022. Regretfully, it noted that the latter incident necessitated the shutdown of the NCTL because of the damage and disruption it occasioned to the safe transportation of its fluids and crude volumes from other injectors. Aside these occurrences, it maintained that no new incidents of any nature, specifically of the

type that is now being peddled, have occurred or been reported within its area of operations. “AEEPCO remains gravely concerned about the persistent heightened attack on our production facilities and the NCTL. These attacks appear to have escalated in intensity and effect. “All our current efforts to sustain and increase crude production are being aggressively undermined, even wiped out by the activities of economic saboteurs whose audacity continues to be growing by the day,” the company added. Aiteo disclosed that its NCTL had been targeted, with considerable success, for the sole and devastating objective of aiding crude theft. The company stated that given the level of losses, occasioned by massive oil theft, it was experiencing, as joint operator of the NNPC/AITEO JV, it is now left with the unavoidable option of actualising a total exit from the NCTL. “We are giving active and urgent consideration to this course of action because the consequences of continuing to operate in this manner now represents an existential threat

to our survival,” firm stated. It stressed that on the Santa Barbara Well 01 incident, the spillage was contained by the astute deployment of human and material resources, achieved in the face of some of the most testing environmental disaster management challenges and in a manner that attracted commendation within and outside the oil industry. Given the disruptive and far-reaching impact that such incidents can have on operations, Aiteo insisted that it was unacceptably impudent for those responsible for disseminating falsehoods to assume that the reading audience will give any active consideration to such “unfounded lies.” Conversely, it noted that what is becoming disconcertingly commonplace, is the emergence of pockets of deliberate contamination of the environment with hydrocarbon substances, for the dominant purpose of inducing or supporting spurious claims for compensatory relief. “There is a growing, uncomfortable, connection between these nefarious activities and stories of the type that have given rise to this our current public reaction.

“AEEPCO’s strong, corporate presence in the industry continues to receive recognition and endorsement such that wellmeaning participants in the sector will continue to distance our reputation and outlook from the kind of activities that these entities seek to associate with us. “ Our work ethic mandates a familiarity with industry practices which ensures that we will continue to work with sector stakeholders and regulators if and when any such incidents occur. “We therefore assert, with confidence, that no such incident has occurred that has required us to trigger these inevitable control contacts and that any such suggestion remains a part of a vicious, lawless campaign that is now currently being prosecuted against us,” Aiteo noted. As an industry leader, Aiteo restated that its dedication and commitment to its host communities which obliges it to continue to operate in a safe, regulated and transparent manner, remain unshaken. Furthermore, the company explained that it will continue to place communal welfare at the apex of its exploration activities in the Niger Delta.

Court Records Reveal Judge Didn't Accuse Zenith Bank of Bribing Judges, Lawyers Contrary to several online media publications last week, the Certified True Copy (CTC) of the judgment of Justice Olubunmi Abike-Fadipe, has revealed that there was nowhere in the judgment that the judge accused Zenith Bank Plc of bribing judges and lawyers for 11 years in order to pervert the course of justice. Justice Abike-Fadipe, on Tuesday, March 8, 2022, while delivering judgment reported to have made serious and weighty allegations against the bank. The suit marked LD/ ADR/186/2014 was between Real Integrated and Hospitality Limited as claimants while, Zenith Bank Plc and State Universal Basic Education (SUBEB) as first and second defendants respectively. In one of the publications, the judge was quoted as saying, “My recommendation is that Zenith Bank is a fraud and people must be very careful in their dealings with the bank.”

Some of the other quotes read: “Zenith Bank bribed the lawyers in the matter. This they have done for 11 years. So many lawyers and judges have been bribed in this matter just perverting justice. “What is more embarrassing, the current governor of Central Bank of Nigeria, Godwin Emefiele was the one who came to navigate and begged for the deposit. He has not been able to do anything to Zenith Bank because he was the managing director of the bank at the time of this transaction.” But after a careful study of the court's record there was nothing to prove that the judge made the said allegations. Although, it could be seen that the judge made a scathing criticism of the bank, the court however did not accuse the bank of bribing judges and lawyers for 11 years in its alleged bid to rob the plaintiff of justice as reported by the online news mediums.

It was also observed that there was nowhere in the entire judgment that Emefiele was mentioned. However, the judge’s actual comments, as contained in a judgement included: “The 1st defendant has been the beneficiary of the malevolent game of chess it plunged both claimant and the 2nd defendant into, holding the sum of N872,780,552.84 in its custody without paying interest thereon from February 17th, 2011, until February 2, 2016, when the Court ordered that the money be paid into an interest yielding account in the names of the claimant and the 2nd defendant pending determination of the suit, which order was curiously varied by the consent of all the parties on 20th September 2016 so that the money remained in the 1st defendant’s custody without interest. “The act of the 1st defendant was unconscionable and detrimental to the goodwill of the claimant and its

trade credit with its customers. It was a deliberate and malicious act against the interest of the claimant and the 1st defendant continues to enjoy the largesse in bad faith. Exhibits C4 and C5 clearly state that the funds to be transferred were to offset part of the claimant’s indebtedness for the importation of dictionaries, but the 1st defendant was impervious to this need. I therefore find and hold that the claimant is entitled to substantial damages against the 1st defendant for the injury caused to it.” The judge made the comments while granting the claimants four reliefs. The reliefs were that the 1st defendant (Zenith) was in breach of contract when on October, 7, 2011, it refused the claimant to draw from its account No. 1012465427, “despite the fact that the said account was in enough credit to cover the withdrawals sought to be made on the said date.”

MONDAY MARCH 14, 2022 • T H I S D AY

T H I S D AY • MONDAY, MARCH 14, 2022

NEWS

PASTOR PHILIP AKINOLA MARKS DIAMOND ANNIVERSARY... L-R: Former Legal Adviser Nigerian National Petroleum Company (NNPC), Dame Sena Anthony; Chairman STB Mccamn Lagos, Steve Omojafor; Celebrant, Executive Manager Zenon Petroleum and Gas Limited, Philip Mosebolatun Akinola and his wife, Mrs. Aderonke Akinola, during thanksgiving church service to mark Philip Akinola’s birthday, held in Lagos...recently

2019 Audit Query: NMDPRA Distances Self from $1.2bn Oil Royalty Deduction Udora Orizu in Abuja The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has asked the House of Representatives to demand explanation from the Nigerian National Petroleum Company (NNPC) Limited why it deducted about $1.2 billion from the federation account in 2019. The NDMPRA’s (formerly known as Department of

Petroleum Resources) position was contained in its response to the query from the office of the Auditor General of the Federation which asked the agency to recover the said money from the NNPC or face sanction. In its annual report on the federal government’s consolidated financial statements for the year ended December 31, 2019, submitted to the National Assembly on August 18, 2019,

US Consulate Supports Mentorship Programme for Young Women in STEM The United States government has expressed its commitment to support the next generation of women leaders in science, technology, engineering, and mathematics (STEM) in Nigeria by connecting them with networks and opportunities needed to advance their careers and dreams in tech fields. The TechWomen Alumni Association of Nigeria held the closing ceremony of a US Consulate supported TechWomen Nigeria Mentorship Project for emerging female leaders in STEM fields. According to a statement, for six weeks, 10 mentees aged 1830 were paired with 10 women leaders in STEM. The mentees shadowed their mentors at leading technology and STEM-related companies in Lagos, including Intel and Microsoft, and attended capacity building workshops with their peers. The closing event celebrated the graduation of the participants, who in turn shared their experiences and highlighted how partaking in the program helped them to refine their skills and boosted their confidence to advance in their various careers. Speaking at the closing ceremony of the project in Lagos, US Consul General Claire Pierangelo congratulated the young female STEM professionals on completing the mentorship program. Pierangelo highlighted the

importance of expanding young women's networks in STEM fields, encouraging them to pursue tech careers and ensuring the sustainability of the mentor-mentee model in Nigeria. “I am happy to see that our TechWomen Nigeria alumni have taken steps to replicate their exchange experience by providing mentoring opportunities for young women in STEM in their local communities,” Pierangelo said. “The U.S. government is committed to advancing the rights and participation of women and girls in the STEM fields, by enabling them to reach their full potential in the tech industry. The TechWomen and TechGirls programs are perfect examples of this commitment.” Country Account Executive for West Africa at Intel Corporation, Rita Amuchienwa, served as a mentor during the project. She described the benefits of the mentor-mentee model initiated by the TechWomen Nigeria Alumni Association. “Young women in tech can particularly benefit from mentoring as a means to build confidence, enhance skills, and set achievable career goals,” Amuchienwa said. One of the mentees, Rofiat Korodo, explained that her participation in the mentorship program has strengthened her capacity, expanded her professional networks and exposed her to top female role models in her field.

the Auditor General, Adolphus Aghughu reported the deduction of $1,278,364,595.49 by the NNPC from oil and gas royalty assessed by the DPR. The report stated: "Audit observed from the review of 2019 Joint Venture Ledger and other related records that the sum of $1,278,364,595.49 was deducted by the NNPC from the Oil and Gas Royalty assessed by the Department of Petroleum Resources (DPR) for 2019." Giving a breakdown of the deductions, the OAuGF stated: "Distribution of Mid/Downstream Cost $992,693,875.57; Repayment Agreement (RA) – Oil Royalty $215,664,380.91; Modified Carry

Agreement (MCA) –Oil Royalty $59,075,576.79 and Modified Carry Agreement (MCA) – Gas Royalty - $10,930,762.22." It stated further that, "the deductions emanated from the assessments based on the Joint Venture arrangement that NNPC has with other Operators in 2019, and No justifiable reasons were provided for the deductions of the above amount from proceeds of assessments before remittance into the Federation Account.'' The auditor general also said that in their response, the management of the DPR as it was then said the Department may have little or nothing to do in this regard because the deductions

of the amount in question were made in accordance with the directive from the Federation Accounts and Allocation Committee (FAAC), adding that it is difficult to recover the amount from NNPC. He also the then Director/CEO of DPR should be directed to provide reasons why the amount was deducted by the NNPC from the federation account revenue proceeds, recover the said amount from the NNPC, deduct the four per cent cost of collection due on the amount and forward evidence of remittance into the Federation Account to the Public Account Committees of the National Assembly.

Failure to do this, he said the agency should be sanctioned in line with paragraphs 3112 (i) of the Financial Regulations. However, when the management appeared before the Public Accounts Committee of the House of Representatives, it said the money deducted by the NNPC were for priority projects of the federal government, saying that only the NNPC would be in a position to explain the deduction. The NMDPRA claimed that the money which was supposed to enter into an account belonged to the DPR and controlled by the Accountant General of the Federation never entered into the account.

Oil Spillage: Shell Suffers Setbacks as Appeal Court Orders Deposit of N800bn Judgment Sum Restrains oil giant from selling onshore/offshore properties

Alex Enumah in Abuja

Oil giant, Shell Petroleum Development Company (SPDC) on Friday suffered a major setback in its bid to stay the execution of a judgment sum to the tune of N800 billion. The Owerri Division of the Court of Appeal, while ruling in a motion for stay of execution filed by SPDC and Shell International Exploration and Product BV, ordered the applicants to deposit the judgment sum into the interestyielding account of the Court of Appeal within 48 hours of the judgment. The appellate court in the unanimous decision delivered by Justice Rita Pemu, further ordered the applicants not to dispose of any of their assets both onshore and offshore within and outside Nigeria pending the hearing and determination of the appeal. The applicants had approached the Court of Appeal with the view of upturning a judgment of a Federal High Court, Owerri, which had found them guilty of polluting farmlands as well as rivers and

other surroundings in Ejalawa Community in Oken-Ogosu, Egbalor Ebubu/Eleme Local Government of Rivers State. Justice T.G. Ringim of the Owerri Division of the Federal High Court, had in November 2020, ordered Shell to pay the sum of N800 billion to members of Ejalawa Community being compensation for damages to their farmland and other destruction cause by Oil Spillage from the activities of Shell in the area on September 18, 2019. However, shell in the appeals marked: CA/W/498/20 and CA/ OW/490/20 respectively, also applied for a stay of execution of the judgment of the trial court. The appellate court had on February 25, adjourned ruling indefinitely on the motion for stay. In arguing the appeal, Shell's lawyer, Mr. Sonny Wogu, urged the court to stay the execution of the judgment of Justice Ringim pending the hearing and determination of his clients appeals against the judgment. This was vehemently opposed by lawyer to the respondents,

Mr. Mohammed Ndarani, who pleaded with the court to rather mandate the appellants to deposit the judgment sum in an interest account pending the final determination of the appeal. He had expressed fears that the appellants were set to close their office in Nigeria and relocate to another country, which would jeopardise the judgment if nothing was done. However, when the court reconvened on Friday March 11, 2022, it agreed with the submission of the respondents and ordered Shell Nigeria and its parent companies, Shell International Limited, London and Shell Exploration and Production B.V. Netherlands to deposit the total sum of N800 billion into an interest yielding escrow account controlled by the Court of Appeal within 48 hours of the ruling. By the ruling, Shell has up to Tuesday March 15, 2022, to comply with the order for the Court of Appeal to stay the execution of the trial court's judgment. Meanwhile, the appellate court also made another order

restraining, Shell Nigeria and its parent companies from disposing any of the assets of the company, whether onshore or offshore, pending the hearing and determination of the substantive appeal which is slated for May 5, 2022. By this order, Shell cannot sell any of its joint venture assets in Nigeria in respect of which they are already receiving bids from onshore and offshore investors and are expecting to rake in about $3 billion. Report has it that Shell over the last 10 years been disposing its onshore and shallow water fields to Nigerian independent producers. Chief Isaac Torchi and 87 others had dragged shell Petroleum Development Company Limited, Shell International Company Limited, Shell International Exploration and Production BV, Attorney General of the Federation and Nigerian National Petroleum Corporation (NNPC) over claims of oil spillage which destroyed their environment including their source of livelihood.

MONDAY MARCH 14, 2022 • T H I S D AY

T H I S D AY • MONDAY, MARCH 14, 2022

This Week In Tech Tech Top 5 News 08097710984

MTN GROUP BUYS 144 PLOTS OF DIGITAL LAND ith the race to the metaverse becoming more competitive, MTN Group announced acquiring 144 plots of digital land for an undisclosed amount in a South African virtual reality metaverse, ‘Africarare’, the first African metaverse. The digital land acquisition reinforces MTN’s decision to reposition itself as a technology company rather than just a telecommunications company, a declaration it made early last month. The company announced this in a report recently. With the purchase, MTN said it is the first African company to purchase space with an overall area of 12x12 meters. According to the statement, the investment demonstrates MTN’s commitment to supporting African innovation as it is the first company on the continent to support an initiative of this kind. Through its presence in the metaverse, MTN intends to increase its customer attractiveness through a series of experiences merged with consumer passion points, like gaming and music.

NIGERIAN FINTECH, VOYANCE RAISES $500,000 IN PRE-SEED FUNDING Voyance, a platform that helps businesses build AI infrastructure and models for data predictions, has raised $500,000 pre-seed funding to improve data unification in Africa. According to the company, the new funding will be used to build Databrick and Datarobot to help businesses stay ahead of competitors. Voyance was launched in 2019 by Ebot Tabi to build innovative solutions that help companies extract value from their data and help B2B businesses become data-driven. The new funding will enable the company to continue its product efforts to expand Data+AI to support more data sources, advanced transformations functions, ML automation, and advanced analytics. The data infrastructure company also seeks to launch its RiskOps API infrastructure to simplify and enable businesses to innovate and reduce risks while growing. The round was led by Beta Venture, with participation from Zedcrest, HoaQ, Assembly Investors, while angel investors were Fola Olatunji-David, Chidinma Iwueke, Co-founder and CEO, Ejara, Nelly Chatue-Diop, amongst others. GOOGLE LAUNCHES OPEN SOURCE HARASSMENT FILTER FOR JOURNALISTS Tech giant Google has launched an open-source anti-harassment tool called ‘Harassment Manager’. Google’s Jigsaw unit is releasing the code for an open-source anti-harassment tool. The tool, intended for journalists and other public figures, employs Jigsaw’s Perspective Application Programming Interface (API) to let users document, manage and sort through potentially abusive comments on

nosakhare.alekhuogie@thisdaylive.com

Nosa

Alekhuogie

Tech Personality of The Week

his week’s Tech personality is the Chief Executive Officer (CEO) and Co-founder, Kuda Bank, Babs Ogundeyi. Kuda bank is a Nigerian Fintech Startup that provides full banking services via its apps, allowing Nigerians with internet access to run an account and save money automatically without the burden of traditional bank charges. It is also Nigeria’s first full-service digital-only bank licensed by the Central Bank of Nigeria. The bank recently raised $55 million in Series B funding at a valuation of $500 million as it looks to expand into other African countries. Ogundeyi has audited and advised some of Africa’s largest banks and had a wealth of experience in the financial services sector.

Ogundeyi

and other licensed financial institutions from working with cryptocurrencies in February 2021 with threats of severe sanctions, crypto trading keeps surging across the nation. Hoping to curb the demand other digital tokens, the country launched its own virtual currency, the e-Naira, backed by the CBN. According to Statista, Nigeria has the highest per capita rate of crypto ownership globally, at 31.9 per cent, as a large number of the young Nigerian population uses cryptocurrencies to hedge against inflation, make transactions, and make money through trading. According to marketplace Paxful, the country saw a 210.6 per cent growth in crypto users aged 18 to 24 in early 2020, and that number has increased further. In 2021, Nigeria will be the second country globally that has the largest cryptocurrency market after the United States of America. So far, the country’s efforts have done nothing to dampen the enthusiasm for crypto among CRYPTO TRADING SURGES IN Nigerian youth as it has continued NIGERIA to build with Nigeria becoming a Nigeria has one of the highest leader in Bitcoin trading. cryptocurrency adoption rates globally despite the imposition of some of the APPLE ANNOUNCES HIGHstrictest anti-crypto regulations by the POWERED PRODUCTS AT ITS EVENT Central Bank of Nigeria( CBN). Recently, Apple revealed some Regardless of CBN banning banks

social media platforms starting with Twitter. Harassment Manager can currently work with Twitter’s API to combine moderation options like hiding tweet replies and muting or blocking accounts with a bulk filtering and reporting system. Perspective checks messages’ language for levels of “toxicity” based on elements like threats, insults, and profanity. It sorts messages into queues on a dashboard, where users can address them in batches rather than individually through Twitter’s default moderation tools. They can choose to blur the text of the messages while they’re doing it, so they don’t need to read each one, and they can search for keywords in addition to using the automatically generated queues. Harassment Manager also lets users download a standalone report containing abusive messages; this creates a paper trail for their employer or, in the case of illegal content like direct threats, law enforcement.

high-powered products at its “Peek Performance” event. The company used its first launch event of 2022 to unveil an updated iPhone SE, Apple silicon which now includes M1 extra, the Mac Studio, and Studio Display, and an upgraded iPad Air. The iPhone SE is to use the A15 Bionic, the same chip in the iPhone 13, and a 5G capacity. The iPhone SE is also the latest budget phone whose price starts at $429. It was also stated that the iPhone 13 Pro would each be available in a new variant of green; green and alpine green. Also, the all-new iPad Air, which is the first upgrade to the Air lineup since 2020, brings Apple’s powerful M1 chip, a 12-megapixel ultrawide front camera, 5G connectivity, and other updated features a similar design to the fourth-gen iPad Air starting at $599. Their newest, the Studio Display, is a 27-inch 5K display. It’s got an ultra-wide 12-megapixel camera (with centre stage support) built-in, a threemic array, and a six-speaker sound system with spatial audio support. It’s also got three USB-C ports on the back, plus one thunderbolt port. Apple says it’ll have multiple different mounting options: a tilting stand, a tilt/height-adjustable stand, and a VESA-mount option.

T H I S D AY ˾ MONDAY MARCH 14, 2022

Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

Email: nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY

M O N D AY D I S C O U R S E

Obaseki, Edo PDP and the Widening Gulf Between Adibe Emenyonu traces the origin of the multiple crises challenging harmony in the Edo State Chapter of the Peoples Democratic Party, since the party won the governorship election in 2020

Obaseki

Aziegbemi

Shaibu

n November 11, 2008, the Peoples Democratic Party (PDP) in Edo State was out of power via an appellate court judgement that ousted it’s candidate, Prof. Osariemen Osunbo which paved the way for the Action Congress (AC) as it was then, Adams Oshiomhole to emerge as the governor of Edo State. Oshiomhole, having completed eight years as governor, anointed Godwin Obaseki as his successor. Shortly after Obaseki took reign of leadership as governor, he began to have issues with his godfather, Oshiomhole and some leaders of the party over structure and who controls the party, the All Progressives Congress (APC). The differences led to the denial of 14 members-elect of the state House of Assembly in 2019 over who becomes the Speaker of the assembly and denial of the party governorship ticket by the then Oshiomhole led National Working Committee (NWC) to Obaseki for a second term. Following this development, Obaseki ran to the PDP for rescue. The party not only obliged him the ticket, but also agreed to accommodate his deputy, Philip Shaibu as running mate. The party echelon decided to systematically dump all the three aspirants contesting the party ticket, namely; Gideon Ikhile, Kenneth Imansuangbon and Omoregie Ogbeide-Ihama after what may be regarded as sell out otherwise, in the course of negotiation, one of the aspirants would have been made Obaseki’s running mate. This however, did not happen giving the speculations that the ticket was purchased by Obaseki, his Deputy and other APC sojourners who left with him to PDP. The palm of party leaders were not just greased, but that of the aspirants also to pacify them to give up their ambition. Little wonder during that period, the Governor of Rivers State, Nyesom Wike was alleged to have abused the party leaders.” In the build up to this arrangement, one of the senators of the party when asked why the party decided to take such rash decision without negotiation, his simple response was: “Edo PDP has been out of power for 12 years and this is the only opportunity left now for it to bounce back to power.” With the coast cleared, the PDP won the election and Obaseki and his Deputy were sworn in. Shortly after the victory, it began to dawn on the party leadership that they have made a grievous mistake. The early signs that they shot themselves in the foot showed when Obaseki reappointed Osarodion Ogie as Secretary to State Government (SSG) who decamped to the PDP alongside with him from APC. The second slight was the appointment of Osaigbovo Iyoha as Chief of State (CoS), another of his acolyte from APC without considering the PDP bloc that gave him it’s governorship ticket and subsequently worked for his victory.

Orbih

Ayu

This triggered the hostility with Obaseki on one side, and the party, led by the National Vice Chairman, South-south, Chief Dan Orbih thus began their journey of casting disrespectful glances at each other. The present dislike and open aspersion came to climax, when the governor publicly called for harmonisation of party positions ostensibly to accommodate those who left the APC. By the time the party realized that it should have negotiated sharing formula for appointment into political offices with Obaseki before giving him the ticket and help him to win the election, it was too late. Yes, the party got victory at the polls but peace has eluded it because of the wide gulf between Obaseki and some key party leaders. From that period till date, suspicion became the name of the game making Obaseki theory of harmonisation, a surreptitious move to take over the party machinery from them; and should they allow it to happen, they would have been finished political.. “This will amount to a tenant quitting his landlord”, a political commentator joked. To first achieve his motive, the governor first used some SWC members of the party to fight back and the first target was the party state chairman, Tony Aziegbemi who was suspended from the party. Although it took the intervention of others as well the party National Vice Chairman, (South-south), Chief Dan Orbih for Aziegbemi to be recalled, the intention worked by whipping him into line.

Since then, the state party Chairman began to distance himself from Orbih and those perceived to be “recalcitrant’ in order to avoid another suspension by agreeiing to all Obaseki’s statements on the state of the party. Although Obaseki has agreed to give some political appointments like commissioners and Special Advisers position to the ‘legacy group”, his efforts to integrate his group from APC into the PDP has continued to meet with stiff resistance. The arguments for and against harmonisation are two fold. One is the fear that allowing new comers to take up party positions already occupied in what might be seen as harmonisation by Obaseki might deal a death blow on the old bloc as that is their only source of strength and power to challenge and call the governor to order. Besides, some political analysts have also argued that already, the party positions have been occupied before Obaseki and his followers dreamt of decamping to PDP, and as such it would be proper to allow the occupants serve out their tenure; thereafter, the new comers can now come to vie for position, adding that already, a good number of them are registered members of the party. The second reason is that since the mistake had already been done, why not harmonize, after all, some positions were already conceded even though belated. It was gathered that the frustration of getting his associates from APC into the executive positions occupied by the mainstream PDP, necessitated the governor’s recent outburst on Chief Orbih during a meeting with some leaders of the party in the state. Present at the meeting were his deputy Philip Shaibu; Speaker of Edo State House of Assembly (EDHA), Marcus Onobun; Senator Matthew Urhoghide; Senator Clifford Odia; Chief Tom Ikimi; Joe Edionwele and National Youth Deputy Leader of PDP, Timothy Osadolor, among others. Obaseki said the PDP in the state was fully

Wike

harmonized. He stressed that the constitution of the party pronounces him the leader of the party in the state and the position was not up for contest by anyone. Continuing, he said: “I can’t leave PDP. I will not decamp from the PDP; we will always win any election. PDP won in the last election and we will continue to win all elections in the state and country; nothing will stop us as a party.” The governor who further noted that the forthcoming local government election in the state will set the template for next year’s national and legislative elections, urged party members to reflect on the elections and work in unity to ensure victory in the polls. “There is no division in Edo PDP. Let the party be open to accommodate others. PDP is democratic. The hallmark of democracy is ensuring that the majority has their way, as the minority can’t dictate to the people. “I heard that Chief Dan Orbih went around, saying there is no harmonization in Edo PDP. This is really irresponsible to say and an insult to members of the party, as the party has truly harmonized in the state. “PDP in Edo State is harmonized because before we made any appointment in any ward, we made sure the party at that level was harmonized. We are gathered here now as election timetable is out; harmonization has been done, appointments made and we are ready to win any election before us.” While acknowledging that politics is not about fighting but dialogue and discussion, he urged members to collaborate and unite to move the party and state forward, noting that over 539,000 members have been registered in the ongoing e-registration exercise. According to him, “These numbers are not fabricated as we have the data, pictures, emails and phone numbers of members of the party we have registered so far. You have broken records as this is the bastion of PDP in Nigeria. We have changed the face of politics in Nigeria.” “Some people went around saying people should not join our party. No true party man will do that. Those that engaged in that are not true members of the party and don’t belong to Edo PDP. If not, they will not push people away from the party.” “Our focus now is on how to engage our members, making them participate in the policy-making process of the party. We don’t need to wait for an election before we act.” Accussing detractors who sponsor disunity in the state to stop forthwith, the governor stated, “Edo is Edo, leave Edo State alone. They have tried us in battle, and have been made to know that we are battle-ready. We have been tested and trusted. We must always win elections; we must always win as a party.” NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ MONDAY MARCH 14, 2022

MONDAY DISCOURSE

APC Forges Ahead with Convention Plan Amid Crisis The All Progressives Congress has been caught in a web of leadership crisis in recent weeks. The crisis rocking the party is already threatening its national convention slated for March 26, Adedayo Akinwale writes:

Buhari

Buni

Bello

when he said Buhari, like most party leaders and members, was highly disappointed at the serial cases of deliberate efforts by Buni and his associates to block the APC Convention from holding based on alleged personal ambitions. He noted that between November 2021 and January 2022, the APC Convention had to be postponed three times because of deliberate refusal to initiate most of the processes required, such as booking the venue for the Convention and serving the statutory three weeks’ notice to INEC. Lukman pointed out that there were other serious allegations against the leadership of Buni which include the discovery that his group, since November 2022, had obtained a Court injunction against the Convention and are waiting until three or two days to the Convention before serving it on the party to succeed in blocking the March 26 APC Convention from holding. The party chieftain, in another statement alleged that Governor of Kogi State, Yahaya Bello, Hope Uzodinma of Imo State, Dapo Abiodun of Ogun State, as well as Orji Kalu were working with Buni to undermine the national convention of the party slated for March 26. According to him, There are known collaborators of His Excellency Mai Mala who have colluded with him to ensure that all attempts to organize the APC National Convention are blocked. Three

he ruling All Progressives Congress has been in the eye of the storm for some weeks now, but the crisis rocking the party reached a climax last Monday after an unexpected leadership change at its National Secretariat The change of leadership at the party secretariat was however not without drama with security agents mostly from the Nigerian Police numbering about 80 taking over the secretariat to maintain law and order. The embattled Chairman of the Caretaker/ Extraordinary Convention Planning Committee (CECPC) and the Governor of Yobe State, Mai Mala Buni was out of the country for medical reasons before the leadership change was effected. It was based on this that the Governor of Niger state, Abubakar Bello assumed the leadership of the party in acting capacity. The swift move was necessitated by the need to contain the crisis plaguing the leadership of the ruling party, which forced President Muhammadu Buhari to approve the removal of Buni and in his stead, appointed his Niger State counterpart, Bello. Afaction of theAPC governors had complained bitterly to the President that Buni was not inclined to holding the convention as rescheduled, because there were no preparations on ground. Apparently miffed by what he was told, the president was said to have immediately directed that Buni be removed and replaced. While the crisis was still raging, a former Director General of Progressives Governors Forum (PGF), Dr. Salihu Lukman fired another salvo

Akpanudoedehe

governors who are known and must also be called upon to account for their roles in undermining decisions to organize the APC National Convention are His Excellency Yahaya Bello of Kogi State, His Excellency Hope Uzodinma of Imo State and His Excellency Dapo Abiodun of Ogun State. There are other party leaders, including Senator Uzo Kalu who have actively supported His Excellency Mai Mala to undermine the decision to organise the National Convention of the party.” APC Govs Back Bello Nevertheless, after the dramatic turn of events, APC governors appeared to have already pledged their support for Bello as he assumed the leadership of the party. Following his resumption last Monday, Babagana Zulum of Borno, Babjide Sanwo-Olu of Lagos, Yahaya Bello of Kogi, Hope Uzondinma of Imo, Dapo Abiodun of Ogun, Inuwa Yahaya of Gombe, and AbdulRahman Abdulrazaq of Kwara state stormed the national secretariat of the party to show support. Bello who told journalists that the taking over of the leadership of the party has the blessing of Buhari said after the inauguration of APC state chairmen at the party Secretariat in Abuja that the governors were at the secretariat to show him support. “Most of my colleagues are here to support me to receive the report. You know the

zoning committee report is a very important one. And all the governors here are here to support me. Now, at zonal level, they can go and do their work,” he said. The Governor of Ondo state, Rotimi Akeredolu said most of the governors are resolute behind Bello to salvage the party except a few ‘Yahoo, Yahoo’ governors. He said the insidious and appalling happenings within the party in the last few months, especially under Buni, was a huge embarrassment. Akeredolu noted that without necessarily dwelling on details that are known to critical stakeholders, the path taken lately by Buni and an indivisible few, was an unenviable trajectory undeserving of the party. He said, “Succinctly, aside from feeling very delighted as a major stakeholder in the latest successful ‘Rescue Mission,’ I express my confidence in the ability and capacity of Governor Sanni Bello to take APC through. We, the governors are for the party except for the few “Yahoo, Yahoo” Governors (apologies to Salihu, former DG of the Progressive Governors’ Forum) who were hand in glove with Buni to circumvent the will of majority of our Party (APC) members. Progressive Governors in the true name, mostly all of us, are determined to see our party through these patchy parts at all cost. “ NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Lawan Raises Hope for Inauguration of NDDC’ Board The ongoing illegality of the Interim Management Committees/Sole Administrator contraptions administering NDDC since October 2019 in breach of the law, NDDC Act, has obviously become a national embarrassment. Out of grave concern for its potential negative impact on the legacy of not only President Buhari but also the nation’s 9th National Assembly, the Senate President, Dr. Ahmad Lawan, last week, in Abuja made a ﬁrm commitment to push for the inauguration of the NDDC’s substantive Board “without further delay,” writes Nseobong Okon-Ekong

ast week the Senate President, Dr. Ahmad Lawan, rose to the occasion to ensure compliance with the law, the NDDC Act, in administering the Niger Delta Development Commission (NDDC), by stating the Senate’s readiness to push for the inauguration of the Commission’s substantive Board “without further delay.” He received unending praise from the authentic Niger Delta stakeholders. According to a story in a national newspaper of March 7, 2022 titled “Senate set to deal with NDDC situation –Lawan,” the Senate President was quoted as saying that “we should also deal with the situation in the NDDC. It is long overdue. This is one interventionist agency that should be run much more efficiently. I believe now that the forensic audit is over, we should have the NDDC run properly. Let there be full-fledged management and the governing board so that our people in the Niger Delta will continue to get the attention that made the NDDC to be established in the first place.” This exemplary leadership act is in sync with the checks and balances desirable for our Presidential system of democratic governance as spelt out in the nation’s 1999 Constitution (as amended). Under the Nigerian Constitution of 1999

Lawan

Akpabio (as amended) the National Assembly is empowered to oversight activities of the executive branch of government. In particular, Section 88 (1) of the constitution (as amended), confers on the National Assembly the power of oversight into - (a) any matter or thing with respect to which it has

power to make laws, and (b) the conduct of affairs of any person, authority, ministry or government department charged, or intended to be charged, with the duty of or responsibility for - (i) executing or administering laws enacted by National Assembly, and (ii) disbursing or administer-

ing monies appropriated or to be appropriated by the National Assembly. This is why the Senate has a responsibility to push for the NDDC to be administered in accordance with the law, the NDDC Act, by working to ensure the termination of the illegal sole administrator contraption and make certain the inauguration of a substantive Board, for the benefit of the nine constituent states. In commending the Senate President, the Niger Delta Peoples’ Forum (NDPF) noted that the most salient issue concerning the administration of NDDC and which the authentic stakeholders of the Niger Delta have consistently demanded, and which even the President had promised and made commitments on is to end the illegal Interim Management / Sole Administratorship at the NDDC and inaugurate the Board of the Commission upon receipt of the forensic audit, in compliance with the law, and which promise he made to the nation on June 24, 2021 when he received the leadership of Ijaw National Congress (INC) in Aso Rock, Abuja. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ MONDAY MARCH 14, 2022

FEATURES

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

A Nation's Struggle for Inclusion of Women in Politics, Other Sectors Udora Orizu writes that almost 23 years since the return of the country to democratic rule, Nigerian women are still facing rejection by their male counterparts in all ramifications. Recently, the 2022 International Women's Day themed "Break the Bias" was dealt a painful blow as lawmakers in the National Assembly voted against all four bills for greater representation of women in politics and other sectors of the society

Tolulope Akande-Sadipe

Onanuga Oriyomi

Ogunlola Olubunmi

Beni Lar

Zainab Gimba

Olukemi Oluga

Onuh Blessing

Princess Miriam Onuoha

Lynda Ikpeazu

Khadija Abba

Nkeiruka Onyejeocha

Aishatu Dukku

fortnight ago, members of the 9th Senate and House of Representatives concluded voting on 68 proposals for alteration of the 1999 Constitution (as amended), rejecting five bills seeking to among others, increase women participation in politics. What would have been one of the lawmakers greatest achievements, yet again suffered a major setback. It's been almost 23 years since Nigeria returned to democratic rule, yet the country constantly declines in terms of stepping up push for more women inclusion in political leadership. Nigeria’s low ranking in women’s political participation is usually linked to a myriad of challenges such as culture, violence, intimidation, sexual assault and lack of internal party democracy. The Anambra Example Since 1999, the country has never had a female President or Governor. No female has been elected as Governor. However, Virginia Etiaba was sworn in as the governor of Anambra State between

November 2006 and February 2007, making her the first female governor in Nigeria’s history. Her emergence came when Peter Obi was impeached by the state legislature for alleged misconduct. Her short reign came to an end when an appeal court nullified Obi’s impeachment and thereby returned him as governor. Skewed Representation At the federal parliament, current statistics show that women constitute only 11.2 per cent of the membership in both chambers of the 9th National Assembly, with seven females in the Senate and 11 in the House of

Representatives. Out of the total 479 members of the federal parliament, only 19 were originally female members in the two chambers. But with the demise of a female senator, Rose Oko in 2020, the number had reduced to 18. In all, there are seven serving female Senators and 11 House members. The female Senators include, Oluremi Tinubu, Stella Oduah, Uche Ekwunife, Betty Apiafi, Eyakenyi Akon, Aishatu Dahiru, and Abiodun Olujimi. In the House of Representatives, the list include Nkeiruka Onyejeocha, Khadija Abba; Lynda Ikpeazu; Onuh Blessing; Princess Onuoha, Olukemi

"By rejecting the gender bills, the lawmakers had rejected the progress of Nigerian...the reason it kept failing was because the men kept on asking 'which seat do you want to take"

Oluga, Zainab Gimba, Ogunlola Olubunmi, Aishatu Dukku, Onanuga Oriyomi, Tolulope Akande-Sadipe and Beni Lar. International Women's Day The International Women’s Day (IWD) is a global day commemorated every March 8 to celebrate social, economic, political and cultural achievements made by women. It is also a time to reflect on growth towards gender equality, call for action while celebrating acts of courage and determination by women who break the glass ceiling at different endeavours. This year, to commemorate the 2022 International Women's Day, the theme was centred on "Breaking the Bias". According to to the IWD, "Whether deliberate or unconscious, bias makes it difficult for women to move ahead. Knowing that bias exists isn’t enough, action is needed to level the playing field." Every year, Nigeria joins the rest of the world on March 8th, to celebrate the Continued on page 21

T H I S D AY ˾ MONDAY MARCH 14, 2022

FEATURES

Oluremi Tinubu

Eyakenyi Akon

political, cultural, social and economic achievements of women globally. Each year, female legislators clamour for inclusion of more women in elective positions. Every Assembly to no avail, as part of their legislative agenda always promise to make efforts to allow more women to participate in politics and governance. Gender Bill Rejection at 8th Assembly It's not the first time pro-women bills were rejected by the parliament. The lawmakers voted against affirmative action during the last constitutional review by the 8th National Assembly. This took place specifically in July 2017, when the Senate voted against a proposal to alter the Constitution to provide for 35 per cent affirmative action for women in federal and state cabinets. A total of 49 of the 96 senators present during the electronic voting on the bill to further amend the 1999 Constitution supported the proposal. Despite the slight majority, however, the proposal still failed as it came short of the 73 votes required to approve the affirmative action. In Nigeria, the extant National Gender Policy (NGP) recommended 35 percent affirmative action and sought for a more inclusive representation of women with at least 35 per cent of both elective political and appointive public service positions respectively. Recent Rejection On March 8, 2021, female lawmakers in the 9th Senate and the House of Representatives yet again stepped up the push for greater representation of women in politics and other sectors of the society. The lawmakers who expressed their views at a two-day training and advocacy workshop for federal and state female lawmakers on gender responsive legislation, in Abuja, called on President Muhammadu Buhari to forward an Executive Bill to the two chambers of the National Assembly on 35 percent affirmative action. At an event organised by the Commonwealth Women Parliamentarians to commemorate the 2021 edition of the International Women’s Day, the Speaker of the House of Representatives, Hon. Femi Gbajabiamila, said the parliament would be considering amendments to the constitution to further allow women participation in politics and governance of Nigeria. Despite, the Speaker's assurance, 2022 International Women's Day, themed “Break the Bias”, was dealt a painful blow as lawmakers in the National Assembly voted against all women bills.

Stella Oduah

Aishatu Dahiru

Uche Ekwunife

Abiodun Olujimi

Before the bills were voted on March 1, the First Lady, Mrs. Aisha Buhari had made a surprise appearance in both the Senate and House chambers, on February 23, to witness the laying of the reports of the Constitution Review Committee in both chambers. The first lady, who was accompanied by the Minister of Women Affairs, Pallen Tallen and her counterpart in the Ministry of Finance and National Planning, Zainab Ahmed, was there to mobilise support for the gender bills. Gbajabiamila, while addressing the President's wife expressed optimism that the bills will be approved by the parliament. However, tale tale signs that the gender bills will be rejected were seen on the voting day in the House of Representatives, when members protested against a motion for the admittance of Mrs Dolapo Osinbajo, wife of the Vice President, Yemi Osinbajo into the chamber to observe proceedings. When the Speaker put the question on a motion to admit Mrs. Osinbajo into the chamber, majority of the lawmakers shouted "Nay". Regardless, Gbajabiamila ruled that the wife of the Vice President be admitted into the chamber to observe proceedings. But, the presence of the VP's wife didn't stop the male lawmakers from voting against all four bills. The Bill for an Act to Alter the Provisions of the Constitution of the Federal Republic of Nigeria, 1999 to Provide for Special Seat for Women in the National and State Houses of Assembly, had 208 members voting against the amendment with only 81 supporting. Similarly, the second Bill seeking for Affirmative Action for Women in Political Party Administration was equally rejected by majority of the lawmakers despite appeals of the

Speaker, Hon. Femi Gbajabiamila. Equally rejected was a provision to give a woman the right to become indigenes of their husband’s state after five years of marriage. During consideration of the Bill, PDP lawmakers Bamidele Salam from Osun state suggested that the 35 per cent affirmative action should be reduced to 15 per cent. While 195 lawmakers agreed with Salam's amendment, 107 voted against. Gbajabiamila called for repetition of the process appealing to his colleagues to support the bill as women were the ones that come out en masse to vote during elections. However his appeals were not heeded to, he thereafter vowed to expose those who voted against women Bills. The fourth Bill seeking to provide for a Minimum Percentage for Women in Ministerial or Commissioner Nominees was also rejected by the Lawmakers, despite pleas from the Speaker, Gbajabiamila, Deputy Minority Leader, Hon. Toby Okechukwu and Chairman Committee on Defence, Hon. Babajimi Benson for them to support the Bill. Gbajabiamila clearly disappointed by the development, resorted to voice vote to pass his amendment to the Bill that 20 per cent should be given to women. However, none of the gender Bills saw the light of the day in the Senate as the lawmakers all voted against them. Protest After the rejection, women groups protested at the National Assembly main gate to show their disappointment. The aggrieved women groups tackled the parliament over the outcome of the exercise, insisting on a revisit. One of the convener of the protest, Abiola Afolabi, said the women would sustain the protest until they meet with the Senate President, Ahmad

"This country belongs to all of us. 50 per cent of the country’s population is women. No women, no nation. We therefore demand that our rights be recognised; our rights as full citizen, to take leadership positions, not to die in childbirth, not to live in poverty, not to suﬀer from gender-based violence"

Betty Apiaﬁ

Lawan or Speaker Gbajabiamila to submit their demands. The House Deputy Chief Whip, Hon. Nkeiruka Onyejeocha, who was the lead sponsor of the bill seeking to create special legislative seats for women, expressed disappointment in her male colleagues who voted against the bills. Onyejeocha, speaking to journalists in Abuja, lamented that Nigerian women are hurting due to the rejection of the Bills by the male lawmakers. She recalled that from 6th Assembly, female legislators pushed for 35 per cent affirmative action to no avail. According to her, the reason it kept failing was because the men kept on asking 'which seat do you want to take'. She lamented that with the gang up, conspiracy and hatred for inclusion of more women, there's no guarantee that in the 10th assembly, it will not decline further. Joining hundreds of protesters at the National Assembly gate, the Governors’ Wives’ Forum, led by its Chairperson and wife of Ekiti State Governor, Bisi Fayemi, said by rejecting the gender bills, the lawmakers had rejected the progress of Nigerian women. Mrs. Fayemi, who was accompanied by her counterparts from Edo and Akwa Ibom States, Betsy Obaseki and Martha Udom respectively, demanded that the lawmakers rescind their decision on the bills. She said, "This country belongs to all of us. 50 per cent of the country’s population is women. No women, no nation. We therefore demand that our rights be recognised; our rights as full citizen, to take leadership positions, not to die in childbirth, not to live in poverty, not to suffer from gender-based violence. "We want our leaders in this building whom we campaigned and voted for, to recognise that Nigerian women’s lives matter. Anything less than that is totally unacceptable." Reps Rescind Decision Few days later, on women's day Gbajabiamila, after an executive session, announced that the House will rescind its decision on three out of the four rejected bills. The Speaker said the Bills, which seeks to "alter the Provisions of the Constitution of the Federal Republic of Nigeria, 1999 to provide for 35 percent affirmative action for women in political party administration; expand the scope of citizenship by registration and provide criteria for qualification to become an Indigene of a State in Nigeria," will be reconsidered in the coming weeks by the lawmakers. He said the House will be relying on the provision of the constitution to harmonise the differences between it and the Senate. Will the Gender Bills be Passed T his Time? While the House has rescinded its decision, assuring it will reconsider the bills, however their counterparts in the Senate are yet to do so. The women groups have continued their protest vowing not to stop until the Senate also rescind their decision. As Nigerian women await the lawmakers action in the coming weeks, it falls on them to ensure that they fulfill their promise to revisit the Bills and as well lobby very well to see to it that they are passed this time.

T H I S D AY • MONDAY, MARCH 14, 2022

INTERVIEW

Irabor: In Fighting Insurgency, Sometimes You Lose a War to Win It Chief of Defence Staff, Lucky Irabor, has reiterated the Nigerian Army's determination to end terrorism in collaboration with national security and defence stakeholders. In this interview with selected Editors, Irabor discusses the evolution of terrorism worldwide, noting that extremism is not unique to Nigeria. The defence chief also explained the armed forces are doing differently to fight insurgency to the finish. According to him, the armed forces are more prepared for all scenarios. Excerpts:

How have the strategies used to fight terrorism in Nigeria evolved? Some of our tactics have changed, but our vision remains the same – We want to bring an end to the beginning of all terrorism. We are achieving these in collaboration with stakeholders in national security and defence. Globally, terrorism has evolved in the last two decades. The case is not different in Nigeria. What we are doing differently is to be ahead of this evolving trend. The Armed Forces of Nigeria is more prepared for all scenarios. Unfortunately, it will do us more harm than good if we go public to reveal all we have done or what we have stopped doing or will do. The good news is that in all scenarios, Nigeria will win. Let us never forget the words of Winston Churchill, 'Success is not final, failure is not fatal: it is the courage to continue that counts.' Since the war against Boko Haram/ ISWAP started, the military has lost some major battles in the North East. What is being done to avoid future defeats? A better way to look at it is that in the last 20 years, the military has won major battles in the North-East. We have won most of our battles, and that is why we are winning the war. This is not just an opinion. It is the fact. The most recent evidence from the Global Terrorism Report confirms this. A war is made up of several battles. In a perfect world, you plan to win everything, but perfection never happens in war. Sometimes the way forward is backwards. Sometimes you lose a battle to win the war. There has been a recent wave of military takeovers in Africa? Is the military approach a remedy

loses focus. This causes government institutions to weaken, and eventually, the non-democratic take over. Some security stakeholders believe that the final stage of the war against terrorism will be faster if the country hires foreign fighters (mercenaries). Where lies the loyalty of the foreign fighter? To Nigeria or self? The men and women of the Armed Forces fight to protect Nigeria, not because they are paid to do it. It is because they, we see it as a duty. Certainly, we will continue to collaborate with other global powers and defence institutions, but we are not going to outsource our primary responsibility. What is the military leadership doing concerning complaints from some officers about injustice and unfair disciplinary procedures? There is a lot of misinformation and disinformation about the administrative codes and procedures of the Armed Forces. Like our global partners, the military does not operate with court orders. A court-martial is different from a civil court. The military has means to maintain discipline and order.

Irabor

to poor governance? First, let me make it clear that the probability of non-democratic leadership in Nigeria is zero. Rather than go back to our past, we have learnt from it. It is no longer an option. We are passing

this message down the ladder. Like Nigeria, other African countries must strengthen their democratic processes rather than subvert them. Our findings reveal that one main reason for these negative events is when a leader overstays and

How much support is the military getting from non-governmental organisations, especially on the non-kinetic approach to rebuilding peace? Just as nobody can use only one finger to write, the Armed Forces of Nigeria cannot right all the wrongs in security by itself. There is a lot of work that some of these organisations have put in, especially to protect women and children in the North East. A lot more still needs to be done on the non-kinetic approach to achieving peace.

NEWS

Ukraine Invasion: Nigeria Needs Plan for New World Order Now, Says Akinyemi Gboyega Akinsanmi A former Minister of External Affairs, Professor Bolaji Akinyemi, yesterday, told the Nigerian government to start planning for a new world order with the invasion of Ukraine by Russia, which has reportedly cost at least 2,200 lives and forced no fewer than two million out of their homes. Akinyemi, also a former Director-General of the Nigerian Institute of International Affairs (NIIA), said Nigeria “is not going to be a recognised player in the

New World Order unless its ideas and acts are backed by a military status.” He made this observation in a statement yesterday, saying the rise of China as a global superpower and the outbreak of COVID-19 had created a decline of the old world order and a scrambling for a new world order. With the decline of the old world order, Akinyemi challenged Nigeria “to join in the search for a new world order by becoming an active participant.” He acknowledged that, currently, Nigeria “is not

an active participant on the global scene, because of a lack of domestic consensus among the domestic foreign policy elite,” which according to him, did not represent the reality. He, however, said, “What is lacking is a focused dialogue by the elite. This is a situation that is easily rectified by a joint conference organised by the Ministry of Foreign Affairs, the Institute of International Affairs and the office of the Chief of Staff to the President.” The former minister insisted that, Nigeria “is not going to be a recognised player in the

New World Order unless its ideas and acts are backed by a military status. “Right now, Nigeria with a military budget of $2 billion is ranked in terms of capability as 35th in the world with 223,000 personnel. Pakistan, on the other hand, is ranked tenth with a budget of $10.3 billion, 654,000 personnel, 2200 tanks, 582 aircraft. Nigeria knows what to do,” Akinyemi said. He, therefore, tasked Nigeria “to now initiate consultations with all the countries bordering the South Atlantic Ocean towards

establishing the South Atlantic Treaty Organisation, to keep away all the superpowers in the New World Order. “Even though the call to increase membership of the Security Council of the United Nations is decades old, the recent call by the President of Turkey to overhaul the United Nations is one that Nigeria should entertain and in consultation with medium-power countries, examine the details. “Nigeria should seek to table a detailed blueprint on the paradigm of a new world order to enhance participation

by the medium-powers,” Akinyemi said. Giving more insights into the recent global dynamics, he said the characteristics of the new world order “are not known”, however, cited a scramble by medium-income states “to secure seats at the table to create a new world order.” According to him, no one wants to make the mistake of leaving the jigsaw puzzle to the two superpowers of US and China, plus a few handpicked European medium-powers and their allies.

T H I S D AY ˾ MONDAY, MARCH 14, 2022

BUSINESSWORLD R A T E S MONEY MARKET

A S

REPO

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

08056356325

M A R C H

S & P INDEX

1 1 , 2 0 2 2

S & P INDEX

EXCHANGE RATE

OBB

9.00%

CALL

INDEX LEVEL

564.02%

1/4 TO DATE

5.82%

N413.03/ 1 US DOLLAR*

OVERNIGHT

10.75%

1-MONTH

1-DAY

–0.17%

YEAR TO DATE

– 15.85%

*AS AT LAST FRIDAY

3-MONTH

10%

MONTH-TO-DATE

0.19%

How Nigeria Serviced World Bank, IMF, Other Debts with $13.1bn in 11 Years

Spent $1.3bn in first 3 months of 2021 $5.77bn paid in 2020 is highest Kayode Tokede As the federal government continue its borrowing spree and debt servicing constituting a major threat to Nigeria’s economy, it has emerged that the Central Bank of Nigeria (CBN) spent $13.1billion in 11 years to settle Nigeria’s foreign debt obligations.

The international payment data released by the CBN showed that from 2011 to 2021, the amount paid to the World Bank, International Monetary Fund (IMF), Exim Bank of China, among others for debt service and payments have continued to increase. The debt repayments, it was learnt, were made on behalf of the

federal government alone excluding 36 states and the Federal Capital Territory (FCT). THISDAY gathered that between 2011 and 2017, the CBN spent an average of $328 million on debt services and payment reaching $1.4 billion mark in 2018. In 2019, the CBN withdraw $1.34 billion for debt servicing and

payment, the international payment data revealed. Further analysis of the data revealed that in 2021, debt services and payment dropped by 63 per cent to $2.13 billion from $5.77 billion reported in 2020. The reported $5.77 billion is the highest debt services and payments recorded by the CBN, while a total

of $242.8 million was the lowest in 2013. The CBN international payment data showed that in the first three months of 2021, $1.3 billion was spent to service debts. The amount dropped to $298.9 in the next three months ending June 2021. From July to October, CBN further disclosed that a total of $606 million

was spent on service debts. A month-on-month breakdown showed that the CBN in January spent $617.5 million to service debts; it dropped by 65.45 per cent to $213.3 million in February; and dropped to $172.5 million in March. In April, the CBN disclosed that Continued on page 24

Investments in Economic Zones Hit $20bn in 30 Years, Says Minister James Emejo in Abuja The Minister of Industry, Trade and Investment, Mr. Adeniyi Adebayo, has said total cumulative investments in the country’s Free Economic Zones (FEZs) was about $20 billion over its 30 years of operations. Speaking at the inauguration of the new NEPZA Lagos Office, over the weekend, the minister said the

generous fiscal incentives associated with the free zone scheme remained a veritable source of economic development. Adebayo pointed out that the free zone scheme generated N250 billion in both foreign and local direct investments in 2021 and N35 billion in customs duty payments as well as N65 billion in local import/ backward linkage.

He added that the scheme generated N500 million in Pay as You Earn (PAYE); 25,000 in new employment and 5,000 transfer of skills. The minister said, “I must commend you all for what you have been able to achieve within a short period of time, as it goes to show that with dedication and the right mix of human capital, of which NEPZA is sufficiently

blessed, there are no limits to what can be achieved. “Our mission is to formulate and implement policies and programmes to attract investments, boost industrialisation, increase trade and exports and develop enterprises. “The Free Zone Scheme is one of the prime initiatives of the Federal Government, for diversification of

Nigeria’s economic base, in order to achieve our vision of growing the economy, creating jobs and generating wealth. I urge you not to relent in giving it your best in your service to promote the economic development of our great country, Nigeria.” Also speaking at the occasion, Managing Director/Chief Executive, NEPZA, Prof. Adesoji Adesugba

said that the choice of Lagos as its liaison office was based on pure economic considerations. He said, “Remember that 80 per cent of the special economic zones is located in Lagos and within 100 kilometers of its radius, making the city as the country’s most potent economic gateway. Continued on page 24

M A R K E T D ATA A S AT F R I D AY, M A R C H 1 1 , 2 0 2 2 BILLS

BONDS DESCRIPTION 12.75 27-APR2023 14.20 14-MAR2024 13.53 23-MAR2025 12.50 22-JAN2026 16.2884 17MAR-2027

Price

Yield

106.80 6.49 112.34 7.52 113.86 8.29 108.16 9.91 124.59 9.96

Change Updated Time (%) 4, -0.01 March 2022 4, -0.01 March 2022 March 4, 0.00 2022 March 4, 0.03 2022 4, -0.09 March 2022

OTC F X F U T U R E S

C Ps

MATURITY

Discount

Yield Change Updated Time (%)

NTB 28-Apr22 NTB 12May-22 NTB 9-Jun22 NTB 14-Jul22

3.07

3.08

0.00

March 4, 2022

3.13

3.14

0.00

March 4, 2022

3.24

3.27

0.00

March 4, 2022

3.38

3.43

0.00

March 4, 2022

NTB 11Aug-22

3.50

3.55

0.00

March 4, 2022

MATURITY

Discount Yield

Change Updated Time (%)

UNCP CP VI 2-MAY-22 NEVE CP I 24-MAY-22 DANC CP II 25-MAY-22 TRBH CP V 26-JUL-22 FSDH CP VI 1-AUG-22

8.78

8.91

0.00

March 4, 2022

16.31

16.92 0.01

March 4, 2022

8.69

8.86

0.01

March 4, 2022

11.45

11.99 0.00

March 4, 2022

8.15

8.43

March 4, 2022

0.00

CONTRACT TENOR Contract (MONTH) NGUS MAR NGUS MAR 30 30 2022 2022 NGUS APR 27 2 2022 NGUS MAY 25 3 2022 NGUS JUN 29 4 2022 NGUS JUL 27 5 2022

Current Rate ($/₦)

Updated Time

427.24

March 2, 2022

428.93

March 2, 2022

430.63

March 2, 2022

432.32

March 2, 2022

434.02

March 2, 2022

MONDAY, MARCH 14, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

HERFIDELITY PROPOSITION…

L – R: Managing Director, Practoil Limited, Bola Shagaya; Managing Director/CEO, Fidelity Bank Plc and the Chief Host, Mrs. Nneka Onyeali-Ikpe; Former Minister and Keynote Speaker at the event, Dr Obiageli Ezekwesili and MD/CEO, Eleganza Group, Mrs. Shade Okoya at the Fidelity Bank 2022 International Women’s Day Celebration/launch of the HerFidelity Proposition held in Lagos... recently

NALDA Earmarks N15bn to Support 5,000 Farmers as Buhari Okays Empowerment of 1000 Imo women in Cassava Production James Emejo in Abuja The Executive Secretary/Chief Executive, National Agricultural Land Development Authority (NALDA), Mr Paul Ikonne has said that about 5,000 farmers would each access the sum of N3 million to enable them boost productivity and sustain their farms. This would amount to a total of about N15 billion. Ikonne said the initiative, which is in collaboration with the Central Bank of Nigeria (CBN) is in form of a grant, which would be spread among beneficiaries across the country. He added that the facility is a revolving loan that would help reduce unemployment across the country. This came as the authority inaugurated the Achara-Ubo Emekuku Integrated Farm Estate in Imo State. Ikonne also said President Muhammadu Buhari had approved the empowerment of 1000 women in cassava production in the state. He said, “The good thing is that this place will turn to be a training ground for the youths in Imo State. As they pass through one year here, they will be established and we are partnering with the Central Bank of Nigeria to give them support - a grant that they will use to establish their own farms. “So for the first one year they will be here, they will get the technical knowledge, they will know how to rear their own animals and then the central bank grant comes in to support their projects.” He added that the farm would provide 600 direct employments to farmers in poultry, piggery and goatry while 200 additional farmers would be engaged in processing, packaging and export.

The NALDA boss, at the inauguration, pointed out that about 1,000 farmers will be engaged in the area of animal husbandry, processed and packaged products within the first year of the entire project.

He said, “Achara-Ubo farm is expected to take in 600 farmers, the processing and packaging section will soon start, which will take in additional 200 people and the crop section will soon start because we

have provided the tractors. “This farm will be a center that will train farmers within and outside Imo State and the 200 beneficiaries have been trained and empowered with the knowledge and they are

the first set of people to benefit from this project and as they pass out in the next six months, they will sort their own farming activities and another set of people will come in.” He said the farm activation

further reaffirmed Buhari’s passion to grow the agricultural sector as well as strengthen the rural economy adding that the president had also approved the rehabilitation of Songhai Farm.

Razia Khan: Nigeria Needs Long-term Policy Reforms to Attract FPIs Nume Ekeghe The Chief Economist and Head of Research for Africa and Middle East at Standard Chartered Bank, Ms. Razia Khan has stated that with geopolitical tension and uncertainties in the global landscape, there is an urgent need for long-term macroeconomic reforms to steer the Nigerian economy towards growth and attract foreign portfolio investments.

She added that with Federal Reserve System (FED), European Central Bank (ECB) on its way to increasing interest rates, there will be more capital flight from Nigeria, which may trigger increased interest rates from external borrowing and other declining economic variables. She said this in her keynote address at KPMG Alumni Conference 2022, where stakeholders converged to discuss, “Clarity in

Uncertain Times: Unlocking Hidden Opportunities for Businesses.” According to Razia Khan, “Right now, we face a great deal of uncertainty globally. Although the world’s central banks are reacting first and foremost, to the threat of inflation, the expectation is that from March onwards, the U.S. will have to start tightening, there’s a whole series of U.S. Fed rate hikes that are built into financial markets.

“We know that now that the European Central Bank (ECB) will likely have a tightening bias perhaps earlier the markets had been betting about. And all of this alongside the geopolitical risk alongside the uncertainty is likely to feed risk aversion in markets. “So, if we were looking for that benign scenario, where risk appetite would be strong investors would be looking for where the growth opportunities were, you will see

surplus capital being deployed from the more mature economies, growth prospects are normalizing and that going into emerging markets with growth prospects, long term growth prospects is supposed to be a lot brighter. But the problem is, in the very near term, it seems unlikely to happen.” She added that Nigeria has a big investment requirement, which should benefit from the savings of the rest of the world.

‘Giving Women Equal Access to Productive Resources can Raise Agricultural Output by 4%’ Gilbert Ekugbe t The Chairman, Access Bank Plc, Mrs. Dere Awosika, has stated giving women the same access to productive resources as men could increase yields on their farms by 20 to 30 per cent thereby raising total agricultural output in different countries by 2.5 to 4 per cent. Besides, she said if given equal access, women would reduce the

number of hungry people in the world by 12 to 17 per cent. Speaking at the Women Directors Development Committee (WDDC) webinar organised by the WDDC of Institute of Directors (IoD) Nigeria, she explained that gender inequality is a major cause and effect of hunger and poverty, saying that according to World Food Programme (WFP), it is estimated that 60 per cent of chronically hungry people are women

and girls. She added that almost 70 per cent of employed women in South Asia work in agriculture, as do more than 60 per cent of employed women in sub-Saharan Africa. “This highlights the importance of developing policies and programmes that address their needs, interests and constraints,” she advised. She explained further that less than 20 per cent of the world’s

landholders are women, saying that women represent fewer than five per cent of all agricultural landholders in North Africa and West Asia, while in sub-Saharan Africa they make up an average of 15 per cent. Also speaking, the Chairman, WDDC, Mrs. Debola Osibogun, said the programme is a core feature of the Executive Coaching Program initiated by the WDDC

of IoD Nigeria to create a platform for learning, empowerment, and development for Female leaders from all walks of life. “We are tasked to be at the frontline of advocacy programmes for female executives, that is, to develop, execute and promote programmes that would empower women leaders, and enable them acquire the relevant knowledge and skills to compete effectively in leadership, “she said.

INVESTMENTS IN ECONOMIC ZONES HIT $20BN IN 30 YEARS, SAYS MINISTER “Accordingly, this is our way of bringing NEPZA closer to our investors for sustained customer service, to continually attract and

retain investors. In addition, today’s events are a landmark as we are also commissioning the Special economic zones

security unit. “This was created to provide guard duties and enforcement services in all the zones ensuring

the sanctity of economic activities therein.” Chairman, NEPZA Board, Alhaji Adamu Fanda, said the authority

remained committed to repositioning the country in the next few years as the number one free trade zone destination in Africa.

HOW NIGERIA SERVICED WORLD BANK, IMF, OTHER DEBTS WITH $13.1BN IN 11 YEARS

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

$82.3 million was spent on debt service; it moved to $167.5 million in May, the second-highest amount spent on debt service by the apex bank in one month. In June, the amount dropped to $49.4 million; in July, it rose to $120.8 million. For August and September and October the figures reported by the CBN were $230.6 million, $169.2 million, and $85.2 million respectively. However, between November and December of 2021, the CBN revealed that $148.57 and $69.83million was spent in debt services and payment respectively. The apex bank in its economic report for the month of October 2021, maintained that debt service obligations amounted to N1,022.99 billion, compared with N440.63 billion in the second quarter of 2021. “The increase was due largely to the rise in the payment of FGN Bonds and principal repayment of promissory note,” the CBN explained. The apex bank noted that the depreciation of the naira exchange

rate also contributed to the rising debt service payments. Nigeria’s debt profile continued to snowball and its attendant cost is worrisome as members of the CBN’s Monetary Policy Committee (MPC) noted the rising burden of debt services. Meanwhile, analysts have continued to express that the global outlook remained uncertain due to rising global debt levels, lockdown measures, and sluggish global trade, stressing that the roll-out of the COVID-19 vaccines and continued implementation of monetary, fiscal, and structural policies tends to strengthen global growth prospect. Also, the Monetary Policy Committee members of the CBN continued to express concerns over increasing debt and its vulnerability to the nation’s economic growth. At the last meeting, the members cautioned on the rising government debt profile and the concentration of the funding sources and its implications for fiscal sustainability and macroeconomic stability, includ-

ing its impact on financial system performance and growth. The MPC, thus, urged the government on the need to harness other sources of revenue to reduce its dependence on oil as a single revenue source. In addition, he reiterated the need for government to seek alternative, more viable, and efficient infrastructure financing sources, in order to ease its expenditure burden rather than borrowing. A member Robert Asogwa of African Development Bank (AfDB), in his personal statement stated that: “There are however three worrisome indicators at the time of this MPC meeting including, the inflationary rise in December 2021, the surge in M3 and the persistent debt buildup which are key issues of policy concern.” He added that: “Nigeria is however not alone in the debt dilemma as the global debt levels soared above 400 percent of global GDP early in 2021, but later declined to about 350 percent of global GDP by the third quarter of 2021.

“The main challenge is the lack of debt wisdom in Nigeria and with the debt service expenditure estimated at about 35.6 percent of the projected revenue in 2022, the road to long term recovery now seems more uncertain than previously anticipated.” Another member of the MPC, Mike I. Obadan, a Professor of Economics, University of Benin, said: “Fiscal performance is worrisome in the area of revenue generation and the attendant narrow fiscal space and public debt accumulation. Besides these are other issues which shape the direction of monetary policy.” The AfDB had said debt servicing gulps more than 50 per cent of Nigeria’s revenue. The AfDB in its recent West Africa Economic Outlook, said the servicing of the country’s external debt gulped about 50 per cent of the country’s revenue. According to AfDB, the average revenue spent by West African countries on external debt servicing is 17 per cent. This is high and even higher in Nigeria, which spends about

50 per cent revenue on external debt servicing. It added that with the increasing domestic debt burden, the percentage of revenues spent on debt servicing in Nigeria was even higher. The bank said that even though the country’s debt burden had increased by as much as 128 per cent in the last eight years, Nigeria’s debt to Gross Domestic Product remained low. The low debt-to-GDP ratio notwithstanding, it added, the problem with the nation’s increasing debt burden was the high proportion of revenue spent on debt servicing. Moreover, the economic report for October 2021 explained further that: “Borrowing in the review period was anchored on the 2021 budget and the 2020 - 2023 Medium Term Debt Strategy framework. The debt profile of the FGN rose by 7.9 per cent to N33,805.84 billion at endSeptember 2021, relative to end-June 2021; driven by new borrowings for infrastructural development, COVID-19 mitigation, and fasttracking of the economy.

T H I S D AY ˾ MONDAY, MARCH 14, 2022

BUSINESSWORLD

STATUS REPORT

Lafarge Africa: Trade, Other Receivables Slow Down Revenue

Kayode Tokede

ith about 43.11 per cent increase in trade & other receivables, Lafarge Africa Plc recorded a slow growth in revenue but maintained effective finance management in finance cost and income to boost profit and shareholders return on investment. The cement manufacturing company in its audited financial statement for full year ended December 31, 2021 reported N7.2billion trade & other receivables from N5.03billion reported in 2020. Also, from the balance sheet position, the group reported 34 per cent increase in trade and other payables to N103.2billion in 2021 from N76.9billion in 2020. Trade payables are obligations to pay for goods or services that have been acquired from suppliers in the ordinary course of business. However, the group closed 2021 financial year with total assets of about four per cent increase to N526.8billion from N507.2billion reported in 2020. As total non-current assets dropped by 3.4 per cent to N390.26billion in 2021 from N404.14billion reported in 2020, total current assets rose by 33 per cent closed at N136.57 billion from N103.07 billion reported in 2020. The group’s total liabilities inched up by 0.5 per cent to N148.3billion in 2021 from N147.6billion in 2021, driven by about three per cent increase in current liabilities to N131.05billion in 2021 from N127.6billion in 2020. Total non-current liabilities, however, closed 2021 at N17.22billion, a decline of 14 per cent from N20.02billion reported in 2020. Lafarge Africa reported N378.56billion total equity in 2021, an increase of 46 per cent from N259.6billion in 2020. The interplay between current assets and current liabilities dragged the group’ working to N5.5billion in 2021 as against a deficit of N24.48billion in 2020. Consequently, the proportion of total equity/ total assets improved from 51.19 per cent in 2020 to 71.9 per cent in 2021, while total liabilities contribution to total assets dropped to 24.9 per cent in 2021 from 25.15per cent in 2020. The group’s total loans and borrowings dropped to 53.18 per cent from N49.73billion in 2020 to N23.29billion in 2021. As Long term loans & borrowing dropped by 52 per cent to N2.48billion from N5.14billion, while short-term loans & borrowings closed 2021 at N20.8billion, a decline of 53.3 per cent from N44.59billion in 2020.

PROFIT EMERGES STRONGER

For the financial year ended December 31, 2021, Lafarge Africa reported a stronger profit before tax and profit after tax, driven by growth in revenue and effective management of finance as the management cut borrowings. Lafarge’s Cement revenue grew by 27 per cent to N293.09billion in 2021 from N230.57billion in 2020, driven by revenue generated from Cement sales that grew by 26.1 per cent to N285.12 billion in 2021 from N22618 billion reported in 2020. Revenue generated from aggregate and concrete appreciated significantly by 78 per cent to N7.63billion in 2021 from N4.29billion in 2020, while revenue from “Other products that represent revenue earned from the sale of mortar” moved from N102.3million to N338.59million in 2021. Cost of sales (CoS) in 2021 was N160.5billion, an increase of 32 per cent from N121.72billion in 2020. The breakdown of Lafarge Africa’s key drives to Cost of sales revealed that the group reported N88.5billion variable costs that comprises of Fuel and power and Raw materials and consumables in 2021 from N60.85billion in 2020. Maintenance cost also grew by 368.8 per cent to N14.61billion in 2021 from N8.47billion in 2020. The company noted that: “During 2021, the group and company modified the classification of distribution costs on its products to reflect more appropriately the nature of the expense, which is consistent with the accounting policy of the group and company. Comparative amounts in the statement of profit or loss were reclassified for consistency. As a result, N52.5 billion (2020:N41.6 billion) for the Group and N47.8 billion (2020:N36.5 billion) for the Company relating to distribution costs were reclassified from cost of sales to selling and distribution costs.” Consequently, CoS/Revenue grew from 52.8 per cent in 2020 to 54.76 per cent in 2021. Selling and distribution cost grew by 24.3 per cent to N56.98billion in 2021 from n45.84billioni in 2020 as administrative expenses increased by 15.6 per cent to N21.2billion in 2021 from N18.3 billion in 2021. Major contributors to expenses were Distribution variable costs in selling and distribution that moved from N39.84billion in 2020 to N47.3billion, while Salaries and other staff related costs in administrative expenses grew significantly by 39.3 per cent

to N8.62billion in 2021 from N6.19billion in 2020. Other administrative by nature, according to the company was: “In 2020, the Company renewed an agreement with the Cross River state government to advance an amount not exceeding N2.8 billion annually as payments for all taxes, dues and levies payable in the state. “The renewed agreement, which is for a three-year period which commenced in April 2020, which effectively exempts the Company from all Cross River State and local government taxes, dues and levies during the agreed period. In line with the agreement, the Company made an advance payment of N2.8 billion, of which N2 billion relates to the current financial year. “N0.8 billion advance payment brought forward in the year, has also been amortised in the income statement in current year. These amounts have been included in the consolidated and separate statements of profit or loss and other comprehensive income as Cost of sales N0.8 billion (under Note 8 - Distribution variable cost) and Administrative expenses N2 billion (Under Note 9 – Administrative expenses)” This brings Lafarge Africa’s total operating expenses in 2021 to N78.13billion in 2021 from N64.14billion in 2020. On the heels of growth in profit, the management had proposed interim gross dividend of 100koo on every ordinary share in issue amounting to N16.11billion and proposed additional final dividend of 100kobo, amounting to N16.11billion, bringing the total to 200kobo (2020: 100K) on every ordinary share in issue amounting to a total gross dividend of N32.22billion for 2021 (2020: N16.11billion).

DISPOSAL OF PROPERTY

Other income that comprises of gain on disposal of property, plant and equipment, Government grants, Gain on disposal of investment in joint venture and Sale of scraps and other miscellaneous income closed 2021 at N687.09million from N978.15 million reported in 2020. The government had granted Lafarge Africa N381.65million in 2021 from N292.01million reported in 2020. According to the company,: “Government grants arise from below-market interest rate government loans (CBN/BOI Intervention Fund loan) obtained in July 2011 and in March 2018. There are no unfulfilled conditions or contingencies attached to these grants.” However, in the year under review,

the company reported finance income of N1.74billion from N1.18billion reported in 2020 due to N1.19billion net foreign exchange gain. The group’s finance charges dropped by 45.7 per cent to N5.28billion in 2021 from N9.7billion reported in 2020, primarily driven by 52 per cent decline on interest on borrowings that moved from N7.86billion in 2020 to N3.76billion in 2021. Therefore, the Group closed 2021 with N62.25billion profit before tax, an increase of 66 per cent from N37.57billion reported in 2020. The group tax expenses grew by 68per cent to N10.78billion to position profit for the year at N51billion in 2021 from N30.84billion reported in 2020. The management had proposed an interim gross dividend of 100kobo, amounting to N16.11billioon, payable from the pioneer profits. The Board of directors is proposed additional gross dividend of 100kobo, amounting to N16.11billion, bringing the total to 200kobo (2020: 100kobo) on every ordinary share in issue, amounting to a total gross dividend of N32.21billion for 2021 (2020: N16.11). The additional dividend proposed, if approved by shareholders, is payable from the pioneer profits and is not subject to deduction of withholding tax.

2021 FINANCIALS AND FUTURE OUTLOOK

CEO of Lafarge Africa, Khaled El Dokani in a statement said: “Our 2021 performance showed significant improvement, with net sales of +27.1per cent, recurring EBIT of +42.6per cent and net income of +65.4per cent, compared to FY 2020 results. “We are equally pleased with the progress we are making on sustainability; our use of affordable clean energy and agro-ecology footprint are in accordance with our net zero pledge journey”. On 2022 outlook, he maintained that the company is execrated good demand momentum and maintained that it would continue to maximize volume opportunities across our markets and actively manage our costs. “We will consolidate our efforts on Sustainability,” he added. Lafarge Africa has the widest footprint in Nigeria with cement operations in the South West (Ewekoro and Sagamu in Ogun State), North East (Ashaka, in Gombe State), South East (Mfamosing, Cross Rivers State) with Ready-Mix operations in Lagos, Abuja and Port Harcourt. Lafarge Africa has a current installed cement production capacity of 10.5Mtpa.

MONDAY, MARCH 14, 2022 ˾ T H I S D AY

BUSINESSWORLD

INTERVIEW

Ejiro Gray: Energy Access, Transition not Mutually Exclusive As the world continues its march towards energy transition, stakeholders maintain the need for energy access must be a critical part of the conversation, especially in developing economies. In this interview, Ejiro Gray, recently appointed Director, Governance and Sustainability at leading energy and infrastructure conglomerate, Sahara Group shares her views on the issue, among others. She spoke with Peter Uzoho Sustainability has become a global focus for governments and businesses. Is this a fad or do you see credible action in this regard? ustainability is not a fad and that is becoming more apparent to all. Our daily activities continue to pose an existential threat to the environment, the people, and the resilience of businesses across the globe. Here in Africa, the consequences of the threats are not as far removed from us as many may think. Take for instance the area of climate change. Though research has shown that Africa has contributed just about 3% of the cumulative carbon emissions (largely due to the slow pace of development in the continent), the continent is the hardest hit by climate change but the least equipped to tackle the consequences. Sustainability has not had the required level of attention until recently, is because of the competing challenges faced across the continent, such as hunger, poverty, and the infrastructure deficit which are generally thought to be more pressing issues that need to be addressed.

internal compliance reporting for effective monitoring and management at both entity and Group levels.

Developing economies mostly have argued that energy access should precede energy transition. What’s your position on this? Energy transition and energy access should not be treated as two mutually exclusive concepts. Whilst it may be true that many developing economies are still grappling with the challenges of energy access, when it comes to the sustainability of our energy sources, the transition cannot be successfully achieved without tying it to the plan to improve energy access. The success of any energy transition plan must be predicated on cost-effectiveness, economic viability, and scalability of renewable energy projects for improved access to energy, especially in technologically disadvantaged or developing economies. SDG 7 speaks to this question further buttressing the point - Ensure access to affordable, reliable, sustainable, and modern energy for all. What would you say are the most common governance infractions in the energy sector and how can they be addressed? Governance infractions cut across industries regardless of sector. No society is by nature more inclined to follow the rules than others. Infractions will abound in any sector where the regulatory framework is not effectively enforced, or the regulations do not take into adequate consideration, the economics, and peculiarities of the operating environment to create an enabling regulatory environment. Technology is an enabler for improved governance and regulatory compliance both from an operational efficiency perspective, and the enforcement perspective. So, technology, effective stakeholder dialogue, and enforcement are all required to drive compliance. Businesses often complain about the duplicity of operational requirements as one moves from one jurisdiction to another. Is there a way of pursuing harmonization whilst still maintaining standards? Each jurisdiction is unique and a sovereign state. As such, it is expected that each one will devise its rules and requirements to match its level of development as well as its economic and investment goals. However, there is room for a collaborative effort, particularly for neighbouring countries with similar economic and development goals. ECOWAS (Economic Community of West African States), the AU (African Union), SADC (Southern Africa Development Community) are all vehicles for identifying commonalities among the sovereign states, in pursuit of opportunities for the desired harmonization. There have been several net carbon emissions targets set by different businesses and governments. What needs to happen to move the world closer to low carbon emissions? The developed world needs to take greater

Gray responsibility for moving the world closer to low carbon emissions, due to their position as having contributed most significantly to historic and current carbon emissions. The developing world and for instance, much of Africa is disadvantaged, in that it is still largely reliant on fossil fuel-driven economies for its growth and development initiatives, with significant levels of untapped reserves across the continent. For this, there must be an intentional drive towards technological investments in sustainability projects, in the developing world by the developed world. This is not to absolve developing economies of the responsibility for their energy transition, but to ensure that the global drive is just and equitable. Are energy companies doing enough to champion the cause of access to clean, safe and reliable energy? Energy companies are coming into a greater consciousness of their role in the energy transition journey and are taking active steps to match their walk to their talk. At Sahara Group, our commitment to the SDGs has led to the development of the “extrapreneurship” concept, which refers to our unique strategy for creating enabling environments for entrepreneurs. The “extrapreneurship” model is propagated through projects centered on two key impact areas of Energy and the Environment. These projects seek to drive awareness and affirmative action in support of resource efficiency, sustainability, and economic development through socially and environmentally sustainable ventures. Africa appears to have a peculiar case when it comes to the energy transition. What role can leading energy conglomerates like Sahara Group play in facilitating a clear path for Africa towards energy transition?

“As a global energy conglomerate, we are no strangers to crossborder operations and regulatory compliance. We understand that this is core to our risk management and governance framework”

With vast operations across and beyond the continent, the path towards energy transition impacts every sector of our operations. Gas has been recognized as a transition fuel in the global energy transition journey. Sahara Group continues to invest in infrastructure and technology that will enhance access to gas as an option of clean fuel across Africa. Our Liquefied Petroleum Gas vessels are transforming the LPG market, facilitating seamless supply, while our existing and targeted infrastructure outlay will drive efficient storage and distribution of LPG across markets. Sahara Group is also taking a foremost position in advocacy, development of a gas utilization strategy to be balanced with investments in renewable energy projects and carbon storage projects. These plans underpin our areas of focus of resource efficiency and carbon emissions reduction in the drive for sustainability. What is the focus of Sahara Group in terms of its sustainability and governance strategy? We believe all three Environmental; Social and Governance (ESG) pillars must go hand-in-hand to build a truly sustainable organization for a sustainable planet. In driving our sustainability agenda, however, we have prioritized, for immediate attention, resource efficiency and carbon emissions reduction. Our governance strategy is founded on assurance-based enterprise risk management, supported by systems and processes, which serve as enablers for sustainable and mutually beneficial alliances across stakeholder groups. Sahara has operations across Africa, Asia, Europe, and the Middle East. What has been your experience regarding multiple governance and compliance requirements across these locations? As a global energy conglomerate, we are no strangers to cross-border operations and regulatory compliance. We understand that this is core to our risk management and governance framework and so we ensure holistic periodic compliance audits conducted by independent expert consultants across jurisdictions, always supported by

Human capital sustainability is a critical factor in creating enduring brands. After hitting your 25thanniversary milestone in 2021, what people strategy is the company putting together for the future. At Sahara Group, we are consistently implementing various development programs that ensure that top talent and high-value employees are taken through the best of the best local and international development programs. This strategy creates deliberate endless career opportunities for our people to grow and develop. We promote a collaborative and team-focused culture that is supported by diversity, equity, and inclusion. The companies, which today comprise the Sahara Group were incubated on the premise that as a budding energy conglomerate, a high level of creativity, strategic thinking, versatility, tenacity, and teamwork would be required to succeed. Over the years, our people have brought these attributes and more to bear in the growth of our business, proving that truly, “impossible is nothing” and thus stirring up a keen desire to share and develop these same attributes in younger generations of African youth. The Sahara Graduate Trainee Programme was birthed fifteen years ago and successfully implemented as a deliberate strategy, predicated on this need to restore the competitiveness of the African graduate on the world stage. In order words, we take pride in being MAD, that is, making a difference and bringing energy to life responsibly. We have since introduced The Future Project, which will be the pathway for shaping the future of Sahara along the lines of evolving innovations and realities. Sahara is one of the energy conglomerates with roots in Africa that has given the continent global competitiveness. How was this achieved and what’s the plan to sustain the Africa for Africans narrative? There was a time the world would not have imagined looking to Africa to implement global energy solutions. Today, the narrative is rapidly changing, and the Sahara Group is at the vanguard of the transformational story from Africa to the world. We are rapidly establishing our footprint across Africa and beyond, by identifying infrastructure and supply chain gaps across systems and borders. Our collaborative approach to value creation ensures that the ultimate development of the region and social impact remains at the heart of all that we do and this has earned us the right to corporate citizenship wherever we operate. Sahara subscribes to doing well and doing good as the foundation of its corporate citizenship strategy. How has this helped to drive Sahara’s contribution to sustainable development goals, especially in locations where it operates? In the words of Harvard Business School Professor, Rebecca Henderson, “Doing well and doing good are intertwined, and successful business strategies should include both.” Beyond improving shareholder value, at Sahara, we understand that the development of Africa lies primarily with Africa, and this is the focused approach we take in identifying and addressing the supply chain, infrastructure and social empowerment gaps required to drive socio-economic growth. Our development projects leverage the “extrapreneurship” model e.g. The Sahara Impact Fund, a strategic partnership between Sahara Foundation, Ford Foundation, LEAP Africa, and Impact Investment Foundation. It was established to boost the generation of ideas and solutions, which will work towards achieving the Sustainable Development Goals in a manner that results in measurable social impact.

OPI NION

T H I S D AY MONDAYMonday MARCH 20222022 1414, March, Vol 26. No 9834.

GARKI HOSPITAL IS BETTER RUN ON A PPP MODEL SEFIYA AHMAD writes that the PPP initiative at Garki Hospital is working remarkably well

See page 28 A DOCTOR’S TREATMENT FOR THE OIL CURSE Breaking free from the oil curse requires fresh leadership, contends ABU QUASSIM See page 29

UKRAINE: FOUR APPEALS, TO FOUR PRESIDENTS Diplomacy is the way forward, not bombings, writes RAJENDRA ANEJA See page 29 EDITORIAL Putting An End To Fuel Scarcity See page 30

& RE A S O

opinion@thisdaylive.com

www.thisdaylive.com

ON PLANNING FOR A NEW WORLD ORDER BOLAJI AKINYEMI urges Nigeria to join in the search for a new world order by becoming an active participant See page 28

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The contributory pension scheme remains the safest safeguard against inclement retirement weather, argues IKECHUKWU AMAECHI

NIGERIA POLICE AND CONTRIBUTORY PENSIONS

n Tuesday, February 22, 2022, the House of Representatives Committee on Pensions held a public hearing on two bills for the amendment of the Pension Reform Act 2014. :KLOH WKH ÀUVW ´$ %LOO IRU DQ $FW WR DPHQG the Pension Reform Act 2014 to provide for the exemption of the Nigerian Police Force from the Contributory Pension Scheme and for related matters, was sponsored by Hon. )UDQFLV (MLURJKHQH :DLYH WKH VHFRQG ´$ %LOO IRU DQ $FW WR DPHQG 6HFWLRQV F DQG RI WKH 3HQVLRQ 5HIRUP Act 2014 providing that a pensioner shall UHFHLYH DW OHDVW SHU FHQW RI KLV UHWLUHPHQW EHQHÀWV LPPHGLDWHO\ XSRQ UHWLUHPHQW DQG criminalise the undue delay in the payment of pension,” was sponsored by Hon Jimoh Aremu Olaifa. It was all déjà vu. The issues at stake at the public hearing are as old as the Contributory 3HQVLRQ 6FKHPH &36 LWVHOI %XW KHUH ZH ZLOO GHDO H[FOXVLYHO\ ZLWK WKH ÀUVW %LOO ZKLFK KDV WR GR ZLWK H[HPSWLRQ RI the Police from the Contributory Pension 6FKHPH &36 To appreciate the renewed agitation for exemption, certain facts have to be put in context. When the Pension Reform Act 2004 was enacted, the idea was to have a new pension scheme that is not only contributory and fully funded but also privately managed, with funds and assets based on individual accounts under third party custody. The Pension Reform Act established a mandatory CPS for workers in both the public and private sectors. The overarching goal was to ensure, XQOLNH LQ WKH 'HÀQHG %HQHÀWV 6FKHPH '%6 that everyone who has worked receives UHWLUHPHQW EHQHÀWV DV DQG ZKHQ GXH %XW WKH JRYHUQPHQW ZKLFK PRGHOOHG WKH country’s CPS after the Chilean scheme that exempted both the armed forces and the police, insisted that the police will be part of its own scheme while exempting the Army, WKH 1LJHULD ,QWHOOLJHQFH $JHQF\ 1,$ DQG WKH 'HSDUWPHQW RI 6WDWH 6HUYLFHV '66 The police hierarchy kicked, preferring H[HPSWLRQ %XW WKH IHGHUDO JRYHUQPHQW demurred, insisting that the institution was so big that it will not be in the best interest of the country to let policemen out of the pension loop. At the February 22 public hearing, proponents for the amendment argued that exempting the police from the CPS and HQVXULQJ WKDW R΀FHUV JHW WKH VDPH SHQVLRQ packages as their counterparts in the military will be a healthy shot in the arm. Hon. Waive, sponsor of the exemption bill, anchored his position on the claim that ZKLOH ´WKH KLJKHVW UHWLUHPHQW EHQHÀW RI D Deputy Superintendent of Police under this REQR[LRXV SHQVLRQ VFKHPH LV 1 PLOOLRQ and that of Assistant Superintendent of

3ROLFH LV 1 PLOOLRQ WKHLU HTXLYDOHQW LQ WKH $UP\ &DSWDLQ DQG '66 DUH SDLG 1 million and N10.3 million respectively.” So, the proposed legislation seeks to DPHQG VHFWLRQ RI WKH 3HQVLRQ 5HIRUP $FW RI WR LQFOXGH R΀FHUV RI WKH 13) DV part of the categories of persons exempted from contributory pension. To be sure, there is nothing wrong in the police calling for enhanced retirement package. There is near consensus that when it comes to issues of welfare and salaries, the police hold the wrong end of the emolument stick. Yet, they are saddled with the onerous responsibility of not only protecting lives and properties of the citizenry but also preventing, detecting and investigating FULPHV DQG SURVHFXWLQJ RͿHQGHUV ,Q VWULYLQJ to ensure there is law and order, many policemen have lost their lives, leaving EHKLQG GHSHQGDQWV WKDW DUH QRW DGHTXDWHO\ taken care of. So, the reason behind the exemption push is poignant and is not lost on many discerning Nigerians. The agitation is all about improved welfare for policemen both in and out of service. A policeman who is sure of good life in retirement is bound to put in his best in service. So, it is not only in his best interest that he secures the necessary guarantees for a better tomorrow which is what the CPS is all about but the larger society is ultimately the better for it. That being the case, the public hearing once again presented the lawmakers another XQLTXH RSSRUWXQLW\ WR UHH[DPLQH WKH fundamental issues inherent in the welfare DQG ZHOOEHLQJ RI R΀FHUV RI WKH 1LJHULD 3ROLFH Force as well as members of their families. %XW LQ GRLQJ WKLV FDUH PXVW EH WDNHQ

A policeman who is sure of good life in retirement is bound to put in his best in service. So, it is not only in his best interest that he secures the necessary guarantees for a better tomorrow which is what the CPS is all about but the larger society is ultimately the better for it

not to throw away the baby with the bath water which is what exemption from the Contributory Pension Scheme will amount to at the end of the day. This is important because exiting the CPS will not serve the ultimate goal of enhancing WKH ZHOIDUH DQG ZHOOEHLQJ RI R΀FHUV DQG PHQ of the Nigerian Police. So, travelling on that route, as enticing as it might seem, becomes counter-productive because the destination ZLOO EH WKH 'HÀQHG %HQHÀWV 6FKHPH ZKLFK was abandoned in 2004 because it had become impracticable. As Ms. Funmilayo Sadiku, a LagosEDVHG ÀQDQFLDO DQDO\VW DUJXHG UHFHQWO\ ´13)·V SRVLWLRQ RQ &36 H[HPSWLRQ PD\ sound good to the promoters, but it would result in the dismantling of the institutions, systems and processes that government had put in place in the last few years towards the implementation of the pension reform programme, in addition to unsettling the JRYHUQPHQW·V ÀVFDO SROLF\ DQG ÀQDQFLDO system stability.” Not only that, the scheme has become the cornerstone of the country’s economy – providing the needed long term investable fund, which has helped in deepening 1LJHULD·V ÀQDQFLDO VHFWRU E\ SURYLGLQJ D platform for attaining strategic programmes of government in the areas of infrastructure, housing and the development of the real sector of the economy. Recently, the National Pension &RPPLVVLRQ 3HQ&RP GLVFORVHG WKDW WKH total assets under the Contributory Pension 6FKHPH URVH E\ 1 ELOOLRQ LQ -DQXDU\ 2022. The funds rose from N13.42 trillion as of December 31, 2021 to N13.61 trillion as of January 21, 2022. According to the report, WKH SHQVLRQ RSHUDWRUV KDYH LQYHVWHG 1 trillion in federal government securities, while N2.28 trillion and N123.4 billion were invested in mutual funds. At N13.61 trillion, the total pension fund assets under the CPS represents about nine per cent of the country’s Gross Domestic 3URGXFW *'3 $JDLQVW WKH EDFNJURXQG RI federal government’s budgetary pension GHÀFLW HVWLPDWHG DW 1 WULOOLRQ DV RI -XQH XQGHU WKH 'HÀQHG %HQHÀWV 6FKHPH WKH GLͿHUHQFH EHWZHHQ WKDW HUD DQG QRZ LV OLNH life and death, literally. So, while the demand of the NPF for HQKDQFHG UHWLUHPHQW EHQHÀWV IRU WKHLU personnel cannot be faulted, it behoves the 1DWLRQDO $VVHPEO\ WR LQJHQLRXVO\ ÀQG D way of arriving at that same destination but within the ambit of the CPS because exempting police from the scheme will pile DGGLWLRQDO ÀQDQFLDO EXUGHQ RQ WKH IHGHUDO government through unsustainable pension obligations. Amaechi is the Managing Director/Editorin-Chief, TheNiche on Sunday newspaper

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T H I S D AY MONDAY MARCH 14, 2022

ON PLANNING FOR A NEW WORLD ORDER BOLAJI AKINYEMI urges Nigeria to join in the search for a new world order by becoming an active participant Under normal circumstances, this topic would be out of order as no one knows who the Presidential candidates will be, not to talk of who the next President will be. To that extent putting forward a manifesto of global proportion may be perceived as putting the cart before the horse. Circumstances in the world today DUH QRW XVXDO &RYLG 2PLFURQ now the Russian-Ukraine war, and

scene because of a lack of domestic consensus among the domestic Foreign Policy elite. I will not subscribe to this. What is lacking is a focused dialogue by the elite. This LV D VLWXDWLRQ WKDW LV HDVLO\ UHFWLÀHG by a joint conference organised by WKH 0LQLVWU\ RI )RUHLJQ $ͿDLUV WKH Nigerian Institute of International $ͿDLUV DQG WKH R΀FH RI WKH &KLHI RI 6WDͿ WR WKH 3UHVLGHQW

(Adria Fruitos for TAR).

Nigeria is not going to be a recognised player in the New World Order unless its ideas and acts are backed by a military status. Right now, Nigerian with a military budget of $2billion is ranked in terms of capability as 35th in the world with 223,000 personnel. the rise of China as a global superpower have created what amounts to a decline of the old world order and a scrambling for a new world order. The characteristics of the new world order are not known. What is clear is that there is a scramble by mediumincome states to secure seats at the table to create a new world order. No one wants to make the mistake of leaving the jigsaw puzzle to the two superpowers of USA and China plus a few handpicked European medium-powers and their allies. I urge Nigeria to join in the search for a new world order by becoming an active participant. The view widely held is that Nigeria is not an active participant on the global

Nigeria should now initiate consultations with all the countries bordering the South Atlantic Ocean towards establishing the South Atlantic Treaty Organisation to keep away all the superpowers in the New World Order. Even though the call to increase membership of the Security Council of the United Nations is decades old, the recent call by the President of Turkey to overhaul the United Nations is one that Nigeria should entertain and in consultation with medium-power countries examine the details. Nigeria should seek to table a detailed blue-print on the paradigm of a new world order to enhance participation by the medium-powers. Nigeria is not going to be a recognised player in the New World Order unless its ideas and acts are backed by a military status. Right now, Nigerian with a military budget of $2billion is UDQNHG LQ WHUPV RI FDSDELOLW\ DV WK in the world with 223,000 personnel. Pakistan on the other hand is ranked no. 10 with a budget of $10.3billion, SHUVRQQHO WDQNV aircraft. Nigeria knows what to do. · Professor Akinyemi is Former Minister of External Affair

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SEFIYA AHMAD writes that the PPP initiative at Garki Hospital is working remarkably well

GARKI HOSPITAL IS BETTER RUN ON A PPP MODEL For a large population of ordinary Nigerians living in the Federal Capital Territory, Abuja, government hospitals remain the option ZKHQ FRQVLGHULQJ DFFHVVLELOLW\ DͿRUGDELOLW\ DQG TXDOLW\ VHUYLFH 7KH\ DUH KRZHYHU often mindful of the costs, waiting time to see a doctor or have their laboratory tests conducted. Available information indicates that the population in the Federal Capital Territory KDV JURZQ IURP PLOOLRQ LQ WR million, representing an annual increase of SHUFHQW (VWLPDWHG LQFUHDVH LQ VWRRG at two million. The number of people living in the FCT has doubled in about 20 years, tasking the government’s response in the provision of infrastructure and services. To address the shortcomings of the traditional ‘general hospital’, the FCT DGPLQLVWUDWLRQ LQ JDYH RXW *DUNL

Hospital to private managers as a model WR WHVW WKH H΀FDF\ RI WKH 3XEOLF 3ULYDWH Partnership policy. Fifteen years down the line, the managers of Garki Hospital have PDGH D KXJH GLͿHUHQFH So many residents were jolted to read in the newspapers last week that the FCTA has given the management of the hospital notice to vacate the facility by April 1, 2022. The immediate implication of this sudden TXLW QRWLFH LV WKDW QR IHZHU WKDQ KHDOWK workers, among them 138 doctors, may lose their job suddenly! Many concerned stakeholders are appealing that the FCTA should examine the track record of the concessionaires rather than UXVK LQWR LVVXLQJ D TXLW QRWLFH ZKHQ PDQ\ government hospitals are plagued with lack RI UHTXLVLWH KHDOWKFDUH HTXLSPHQW WR KDQGOH complex health challenges such as knee replacement, IVF, as well as gynecological and laparoscopic surgeries. ,W LV RQ UHFRUG WKDW VLQFH *DUNL KRVSLWDO has not shut its doors for a single day and QRW D VLQJOH VWDͿ KDV EHHQ ODLG RͿ 1RW HYHQ during the peak of the coronavirus pandemic. It is clearly evident that the PPP model of which Garki Hospital, Abuja, is the exemplar, provides a clear pathway to upgrading the Nigeria healthcare sector to world best standards, especially at this time when JRYHUQPHQW ÀQDQFHV DUH VHYHUHO\ FRQVWUDLQHG Patients who have attended the hospital recently, will bear witness that the hospital is now fully digitalized. In-patient, the out-patient, the labs, the pharmacy, every department is fully computerized. Outside the issue of waiting time, the hospital has also stepped up its services to include advanced diagnostic aid, CT scan, advanced MRI with state-of-the- art tools IRU PRQLWRULQJ VXFK DV ÀEURLG VFDQ DPRQJ

others. For about 10 years, the hospital has safely delivered premature babies weighing less than one kilogramme; and from just basic fertility management to providing low–cost in vitro fertilization since 2014 with high success rates. ,Q 2FWREHU WKH *DUNL +RVSLWDO EHFDPH WKH ÀUVW LQ VXE 6DKDUDQ $IULFD WR carry out Sleeve Gastrectomy, a surgical weight-loss procedure performed by inserting small instruments through multiple small incisions in the upper DEGRPHQ %\ LPSOLFDWLRQ 1LJHULDQV should no longer seek medical tourism in view of the feat at Garki Hospital. The hospital is deliberately pursuing manpower development even as it gains recognition for advanced medical training. $OO PHGLFDO R΀FHUV DQG GRFWRUV there receive Advanced Cardiac Life Support Training, being an accredited center for WUDLQLQJ KRXVH R΀FHUV The managers of the hospital are also paying attention to manpower development. Newly graduated doctors are taking through post registration training before they become fully registered doctors. The hospital remains the only centre accredited in the whole of West Africa for Post Fellowship Diploma Training in Assisted Reproductive Technology. Indeed, it also prides itself as the only centre in West Africa to have achieved that feat and it has created opportunities for consultants from other hospitals to train and obtain their diploma from the West African College of Surgeons. With the success posted by the Nisa Premier-Garki Hospital partnership, the Infrastructure Concession Regulatory &RPPLVVLRQ LQ LQGLFDWHG WKH possibility of replicating the initiative to UHYLYH PRUH ÁHGJOLQJ KHDOWKFDUH FHQWUHV LQ Abuja. The plan entailed a world class case study of the hospital in order to ascertain the factors responsible for its success and possibly deploying and replicating the same arrangement across the country. Data from Healthy Partnerships in UHO\LQJ RQ D :RUOG %DQN UHSRUW declared the Garki Hospital as a model PPP hospital. Here a private provider manages a government structure, and a pattern where patients get higherTXDOLW\ VHUYLFHV WKDQ DW SXEOLF KRVSLWDOV at cheaper rates than other private centres. Resources available to the government are limited while many sectors are in need of intervention; roads, ZDWHU VDQLWDWLRQ UHTXLUH PXFK PRUH government attention. The PPP initiative involving Nisa Premier and the FCT in managing a once moribund Garki Hospital has proven to be amazing as a creative solution for policymakers. It is necessary for the government to speedily embrace UHYLWDOL]LQJ WKH LQVX΀FLHQW KHDOWK IDFLOLWLHV due to limited resources at its disposal and UHDOLWLHV RI WKH SRSXODFH LQ QHHG RI TXDOLW\ DQG DͿRUGDEOH KHDOWK VHUYLFHV

Hajia Ahmad writes from Abuja

T H I S D AY MONDAY MARCH 14, 2022

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Breaking free from the oil curse requires fresh leadership, contends ABU QUASSIM

A DOCTOR’S TREATMENT FOR THE OIL CURSE The oil curse is a complex disease. %URDGO\ LW GHVFULEHV WKH SROLF\ DQG economic failures that come from an over-reliance on oil. It starts with misplaced optimism when prices are high that they will stay high forever. It translates into the failure to invest the proceeds of high prices to spur a productive economy. It ends with ruined SXEOLF ÀQDQFHV ZKHQ SULFHV IDOO DQG WKH economy falls further. :H KDYH EHHQ VXͿHULQJ IURP \HDUV of low prices, compounded by the APC administration’s disastrous policies. Ordinary people are now paying the price as jobs are scarce, prices are rising,

and young men are turning to crime in desperation. Tensions in Europe are raising oil prices, but unless the next president is serious about our economic development and sets us on a new path, the respite will only be temporary. An agreement on the nuclear deal with Iran or OPEC raising production TXRWDV FRXOG MXVW DV HDVLO\ OHDG WR SULFHV falling again. In the words of John F. Kennedy, the time to repair the roof is when the sun is shining. And now is the moment for us to choose our next John F. Kennedy. One of our nation’s great strengths is its federal system. We have numerous governors throughout the FRXQWU\ WDNLQJ GLͿHUHQW DSSURDFKHV to economic development. Not only do we get the opportunity to see how GLͿHUHQW SROLFLHV ZRUN LQ SUDFWLFH but we get the opportunity to see GLͿHUHQW SROLF\PDNHUV DQG ZKR ULVH WR the top. One person and his record of achievements stands out – Dr. Abubakar %XNROD 6DUDNL Dr Saraki was governor of Kwara for eight years from 2003-2011 where he used the levers available to a state governor to spur the local economy, FUHDWH MREV DQG SURYLGH D EHWWHU TXDOLW\ of life for the people. He then continued his track record of success in the National Assembly, becoming President of the Senate, ensuring that laws were structured to encourage economic development. A theme that emerged during his time LQ GLͿHUHQW SXEOLF R΀FHV ZDV FRPELQLQJ the weight of the public sector with

WKH H΀FLHQF\ DQG FRPSHWLWLYHQHVV RI the private sector. When he started his political career, Dr. Saraki instituted partnership with private industry to rejuvenate defunct commercial ventures owned by Kwara State. Whether paving the way for the Kwara State textile industrial company to partner with a private enterprise, or attracting foreign direct investment from South Africa to collaborate with the Kwara Furniture Company, Dr Saraki knew how to generate opportunities and growth. Instead of pursuing full privatization or sticking to sluggish state-owned enterprises, he delivered the best of both worlds. Whilst in the Senate he drove through numerous acts designed to create jobs and reduce poverty, from the 1DWLRQDO 'HYHORSPHQW %DQN RI Nigeria Act to the Investment and Securities Act. Returning to the theme of ensuring that the public and private sector worked in tandem to create the most value for Nigerians, he was instrumental in the passage of amendments to Public Procurement Act, which sought to institute a bias in procurement for Nigerian manufacturers and companies. This was a part of his wider ´0DGH LQ 1LJHULDµ FDPSDLJQ with local companies and manufacturers to promote Nigerian-made goods. However, he avoided the temptation of the extreme, and still allowed the government to procure from foreign suppliers but only if all local options had been exhausted. Transitioning from RXU VWDWH KHDY\ HFRQRP\ WR DQ H΀FLHQW market economy without causing harmful disruptions to ordinary people will take the policymaking skill only gained through experience – experience that Dr Saraki has developed during his career. 7KH FRQVHTXHQFHV RI JHWWLQJ LW wrong are there for us to see. The APC administration has made some catastrophic blunders with the economy. Extreme protectionist measures such as closing the borders to goods have hurt the people and done little to genuinely encourage local industry. Estimates for the damage caused by government interventions to ban twitter are astronomical, possibly as high as USD26 billion. The tech sector is one of our nation’s most promising engines of growth and government should be behind it, not holding it back. :H FDQ·W DͿRUG WR VXͿHU DQRWKHU cycle of oil-fueled boom and bust. We need genuine economic development that properly utilizes the gift of our natural resources and channels them into productive investments. There are examples of countries, such as Malaysia, breaking free from the oil curse. +RZHYHU LW UHTXLUHV IUHVK OHDGHUVKLS with real solutions, like those introduced by Dr Saraki.

Quassim writes from Abuja

329

UKRAINE: FOUR APPEALS, TO FOUR PRESIDENTS Diplomacy is the way forward, not bombings, writes RAJENDRA ANEJA This is an appeal to President Putin to DJUHH WR D FHDVH ÀUH LQ 8NUDLQH DQG DFFHSW the suggestion of President Volodymyr Zelenskyy of Ukraine, to have a one-to-one meeting, to resolve issues. Over two and half million Ukrainian refugees, principally ZRPHQ DQG FKLOGUHQ KDYH ÁHG WKHLU KRPHV The sons and husbands of the women UHIXJHHV KDYH VWD\HG RQ WR ÀJKW WKH ZDU The refugees are now seeking shelter in unknown homes and locations in Europe. They are at the mercy of others. They are without their families, homes and money. If the war can be stopped, then these families can live together again. The war will leave permanent scars on the minds and souls of the one million children, who are moving countries and camps. Whilst the exact number of casualties on both the sides are not yet known, they would be running into thousands. Young men in both the armies, are losing their lives. They will leave families and responsibilities behind them. Soldiers on both sides, could be maimed or handicapped for life, in these bloody battles. If there is a way to save the lives of people in both countries, through a dialogue between the leaders, then it should be pursued relentlessly. The Russian missiles are striking at the military positions in Ukraine. However, they are also hitting homes, schools, hospitals, nuclear power stations, etc. Ukraine’s infrastructure, built over centuries, is crumbling. It takes years to build an elegant church or a hospital. However, it takes a missile a few seconds to rubble them. Mr. President Putin, let us preserve what the forefathers have built. Let us not destroy lives, buildings and infrastructure, created with time, patience and talent. 6R WKXV LV DQ XUJHQW UHTXHVW WR \RX 3UHVLGHQW 3XWLQ SOHDVH ÀQG DQ DOWHUQDWH solution by talking to the Ukrainian President. Let us avoid creation of women and child refugees, killing of young soldiers and destruction of cities. The second appeal is to Volodymyr Zelenskyy, President of Ukraine to guarantee that his country will remain neutral between Russia and NATO, to avoid further bloodshed. Russia’s key reason for wanting to subjugate Ukraine or unify Russia and Ukraine, is the latter’s dalliance with NATO. Granted that joining NATO and the (XURSHDQ 8QLRQ ZLOO EULQJ PDQLIROG EHQHÀWV to Ukraine like free travel across Europe, greater employment opportunities and free trade. However, if Ukraine joins NATO, allied troops and arsenal will be positioned in Ukraine. NATO will then be just 300 miles from Moscow. As World War II ended, the mistrust between the Soviets led by Stalin and the Western allies led by President Truman, resulted in the partitioning of Germany DQG WKH FROG ZDU (YHQ DIWHU WKH ´GHWHQWHµ sponsored by President Gorbachev and President Reagan, the rivalry between the superpowers has persisted. So, there is no way, that President Putin will let Ukraine survive, if he suspects that it will join NATO. President Putin has made his intentions lucid. He could bomb Ukraine to the stone age, but will not let it join NATO. The Western allies have given arms and

hardware to Ukraine, but have steadfastly refused to engage in direct battle. They realise if they do so, it will lead to a world war. Hence, they have been sensibly discreet. They condemn Russia, but refuse to battle. Mr. President, please appreciate these hard facts. Please, declare 8NUDLQH DV D QHXWUDO FRXQWU\ %XLOG \RXU country into an economic powerhouse, a tourist and business hub, like the UAE and Singapore. Make your country so tourist and business friendly, that people should not want to live elsewhere. There is no rout in this option, it is maturity and pragmatism. So, Mr. President, this is an appeal to make peace with Russia, so that the ÀJKWLQJ VWRSV WKH UHIXJHH LQÁX[ KDOWV DQG pretty Ukraine does not mutilate further. 7KH WKLUG DSSHDO LV WR 3UHVLGHQW %LGHQ of the USA. Sir, please ensure that Western leaders exercise moderation in the aggressive stances against Mr. Putin and Russia. Granted that Russia is the aggressor; Mr. Putin has never denied this. However, Russia and Ukraine have been having bilateral issues during the last two decades, including Ukraine’s desire to join NATO. It would be a mistake to isolate and corner Mr. Putin and keep disparaging him. If we want this war to end, we have to build bridges with him and keep communication channels open. We cannot use words like aggressor, invader, punishable, etc., and expect him to be reasonable. The President of a nuclear superpower like Russia, cannot be admonished like a school boy. The next World War will be a nuclear war. In a nuclear war, every nation, will get pulverised; human beings will be vaporized. Planet earth could become D ÁDPLQJ IXQHUDO S\UH 6R WKH VLWXDWLRQ should not be allowed to escalate any IXUWKHU +HQFH UHVWUDLQW LV UHTXLUHG RQ DOO sides. The fourth appeal is to President Xi of China. Senior global leaders like 3UHVLGHQW ;L DQG 3UHVLGHQW %LGHQ VKRXOG MXVW Á\ WR 0RVFRZ DQG PHHW 0U 3XWLQ as a friend, and talk him out of the war. Such appeals, instead of denunciations, could create a climate for solutions. The Vice President of the USA visited Poland, she could also have visited Moscow, to meet President Putin. Countries like China, UAE, India, etc., which have remained neutral, should form a Group and negotiate a settlement between Russia and Ukraine. When India and China were embattled LQ VL[ QRQ DOLJQHG QDWLRQV PHW LQ &RORPER IURP WR 'HFHPEHU They formulated the Colombo Proposals for China and India. All the provisions were not acceptable to both countries; nevertheless, the Colombo Group HQVXUHG D FHDVHÀUH Even the Pope or the Dalai Lama could FDOO 3UHVLGHQW 3XWLQ DQG UHTXHVW KLP WR silence the guns.

Aneja was the Managing Director of Unilever Tanzania. He also a Management Consultant.

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T H I S D AY MONDAY MARCH 14, 2022

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EDITORIAL

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

PUTTING AN END TO FUEL SCARCITY Government should deregulate the petroleum downstream sector

ike a recurrent nightmare, the notorious fuel scarcity saga descended on Nigerians again from nowhere. What started like a child’s play is now in its VL[WK ZHHN (YHQ WKRXJK WKH TXHXHV PD\ be getting shorter in Lagos and Abuja, there are indications that this problem may persist. What is more, all the relevant agencies connected with the provision of petrol appear clueless about long-term solution. As usual, all that the newly established Nigerian National Petroleum Company 113& DSSHDUV WR EH interested in is distancing itself from what has become a perennial national disgrace. For the last six decades, oil has continued to be the hope and despair of Nigerians. That explains why few people can understand how the sixth ODUJHVW SURGXFHU RI RLO LQ WKH JOREH FDQQRW ÀQG WKH product for its domestic use. As Nigerians groan daily DW ÀOOLQJ VWDWLRQV WKH VWDUN LURQ\ RI WKLV SUHGLFDPHQW is one they cannot fathom. It is as confusing as it is frustrating. Yet, resolving the logjam is not a mystery. After all, countries like Ghana and Niger, who are not in the same category as we are, seldom witness fuel scarcity. Meanwhile, Nigerians have not been told the whole truth about the current fuel scarcity. Is it as a result of imported bad fuel or the unresolved subsidy palaver? Or is it due to the fallout of the invasion of Ukraine by Russia? Whatever may be the excuse, numerous productive hours are being lost. People’s savings are getting ruthlessly depleted. The patience of the citizenry - recklessly ignored and abused by those in positions of authority - is ebbing fast. 7KH TXHVWLRQ WKDW UHPDLQV XQDQVZHUHG LV ZKHWKHU Nigerians would ever see an end to the perennial VFDUFLW\ WKDW KDV FRPH WR GHÀQH WKH PDQDJHPHQW RI the downstream sector of the petroleum industry. This

should worry the current administration, especially since there seems to be no coherent policy in place to deal with the issue in a holistic and lasting manner. )RU \HDUV WKH IDOOLQJ SULFH RI FUXGH ZDV WKH ´VDYLQJ JUDFHµ %XW WKH FRXQWU\ LV QRZ EDGO\ H[SRVHG DW D time of high crude price occasioned by the invasion of Ukraine by Russia. 0HDQZKLOH WKH UHÀQHULHV KDYH FRQWLQXHG WR IDLO LQ terms of satisfying the essence of their establishment, given that the importation of petroleum products has become a major and running routine in the economic management of the country. The reason, as often adduced by the industry experts, is that WKH UHÀQHULHV KDYH HLWKHU all broken down due to poor maintenance culture or that the installed production capacity cannot meet the evergrowing local demand for petroleum products. Yet, hundreds of billions of Naira are pumped into them every year. While it makes no sense that Nigeria FRQWLQXHV WR LPSRUW ÀQLVKHG SHWUROHXP SURGXFWV DW KXJH cost to the economy, experience has also shown that the JRYHUQPHQW LV QRW DGHSW LQ WKH H΀FLHQW PDQDJHPHQW of businesses. If anything, the tales of corruption, ineptitude, sabotage and other sharp practices in the oil DQG JDV LQGXVWU\ KDYH FRQWLQXHG WR FRQÀUP WKLV ZLGHO\ held opinion. $V ZH VWDWHG UHFHQWO\ QR VHFWRU H[HPSOLÀHV UHJXODWRU\ failure in Nigeria more than the oil and gas industry. Aside having to contend with wasting billions of Naira on importing toxic fuel that damaged several vehicles, consumers are unfairly made to bear the brunt of product VFDUFLW\ $ UHVXUJHQFH RI IXHO TXHXHV LQ VRPH PDMRU FLWLHV across the country has exposed the mess in the sector and there is need for accountability. The expectation now is that a full deregulation of the downstream sector ZLWK LPSOLFDWLRQ RI KLJK IXHO SULFH FRXOG JXDUDQWHH IXHO availability and free the funds hitherto used in subsidy payment for other development.

A resurgence of fuel queues in some major cities across the country has exposed the mess in the sector and there is need for accountability T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI THE OMBUDSMAN KAYODE KOMOLAFE

UT H

& R E A SO

T H I S D AY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTOR PATRICK EIMIUHI CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: ﬁrst name.surname@thisdaylive.com

Letters to the Editor Letters in response to speciﬁc publications in THISDAY should be brief(150-200 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (950- 1000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer

LETTERS BAMISE: ONE DEATH TOO MANY A country and a family have been left heartbroken by yet another death this time around of 22-year-old fashion designer, Ayanwole Oluwabamise, who was found GHDG LQ /DJRV DIWHU ERDUGLQJ D %XV 5DSLG 7UDQVLW %57 KHDGLQJ WR 2VKRGL IURP Chevron bus stop, Lekki on February 26,2022. Now, there is something about Lagos, Nigeria`s Centre of Excellence, that makes it an excellent centre for criminals of all shades and stripes. In Lagos, even in broad day light, criminals display their activities like wares, daring overwhelmed security operatives to bring them to book. The criminals range from petty criminals to master criminals, and they include people of all ages and sexes. There are the thugs who operate under the very nose of the government and perhaps with its nod too. They steal from people in

public transport, harass passengers when they want, collect taxes they are neither authorized to collect nor for which they are accountable to anyone. These thugs who rule many parts of /DJRV ZLWK LURQ ÀVWV FRPH DOLYH HVSHFLDOO\ during elections when politicians hire them to rig elections or brutalize and intimidate political opponents. The Lagos State Deputy Governor once described them as` brothers.’ Then there are the cultists the most vicious of which are mostly teenagers whose ruthlessness and bloodlust make one wonder when and where they lost the innocence of childhood, and if they were born with such innocence at all. There are also the pickpockets, serial rapists and the staggeringly sophisticated cybercriminals. Together, they make a city

ZKLFK SHUVRQLÀHV PRUH WKDQ DQ\ RWKHU WKH unbreakable Nigerian spirit to also typify more than any other the darkest side of the Giant of Africa. So, in Lagos, many people go out daily for to fend for themselves and run into all manner of criminals. While some live to tell truly harrowing tales, many are not so lucky. Many are not even found and thus, the body count continues to grow in Nigeria`s most sophisticated states. For Nigeria`s young people, every young person that perishes unnaturally in Lagos triggers the painful memories of October 20, 2020, when at the Lekki toll gate, the unbridled bullets of state actors seared the \RXWKIXO ÁHVK RI SURWHVWHUV ZKRVH RQO\ crime was railing against police brutality. Kene Obiezu, keneobiezu@gmail.com

KADUNA POLYTECHNIC’S UNENDING CRISIS The crisis rocking the Kaduna Polytechnic over the appointment of a new substantive rector has assumed a ridiculous dimension as the Governing Council recently recommended the Ag. Rector, Dr Suleiman Umar, for appointment as a substantive rector despite being probed by the Independent Corrupt Practices &RPPLVVLRQ ,&3& 7KH &RXQFLO OHG by Senator Mohammed Mohammed, on 1RYHPEHU KDG DSSURYHG WKH extension of another six months for Dr Umar to serve on acting capacity; an action WKDW YLRODWHV WKH 3RO\WHFKQLF $PHQGPHQW $FW ZKLFK IRUELGV VXFK H[WHQVLRQ There is the need for minister of education, 0DODP $GDPX $GDPX WR TXLFNO\ ZDGH into this impending crisis and resolve it once and for all. Musa Adamu Baba, Kaduna State

T H I S D AY ˾ MONDAY, MARCH 14, 2022

BUSINESSWORLD

NEWS

Skills Acquisition Remains Panacea for Developmental Challenges, ITF Boss Insists James Emejo in Abuja The Director General, Industrial Training Fund (ITF), Mr. Joseph Ari, has said that skills acquisition remained the only viable solution to the country’s numerous social and

other developmental challenges. But he said 54,603 highly skilled technicians had so far been graduated by the fund under the Technical Skills Development Project (TSDP) initiative, which was berthed in partnership with the Nigeria Employers

Air Peace Launches Flights to Niger Capital, Niamey Chinedu Eze Nigeria’s major carrier, Air Peace has announced the commencement of flight operations to Niamey, the capital of Niger Republic. The inaugural flight was operated on March 11, 2022, with one of the airline’s Embraer 145 jets, from its subsidiary- Air Peace Hopper. The leader of the Air Peace delegation and Director of Flight Operations, Captain Augustine Kamano, said Niamey had always been on the airline’s radar, especially as it was poised to expand its footprints across the West African coast and interconnect different cities in the sub-region. Kamano stated that Niger Republic and Nigeria are good neighbours and the airline is excited that it is serving as a strategic means of fostering the already existing positive relations, and further cementing the ties between the two countries through air travel. “We are determined to reduce the air travel burden of Africans,

and this will continue to propel our route expansion as well as fleet modernisation programme. Air Peace has accomplished so much in just seven years of operation, as we now have a network of twenty domestic routes, seven regional routes and two international destinations, including Johannesburg, which we launched in December 2020,” Kamano said. In her remarks, the Nigerian Deputy Ambassador to Niger Republic, Aisha Kabiru, emphasised that Air Peace’s entry into Niger would boost socio-cultural and economic ties between both countries and ease the burden of air travel for Nigerians and Niger nationals who connect both destinations, especially for commercial purposes. Kabiru, who thanked Air Peace for always coming to the rescue of Nigerians, citing the airline’s evacuation record, reiterated the commitment of the Nigerian Embassy in Niger to supporting Air Peace operations in the country.

Consultative Association (NECA). Speaking at a media briefing on the ITF-NECA technical Skills development in Abuja, he said most of the technicians graduated are either employed in corporate organisations or have become entrepreneurs who are also employing others. Ari, said the fund remained committed to ensuring the sustenance of the skills acquisition programme in order to transform the lives of Nigerians, and change the trajectory and narrative of technical and vocational skills development in

the country. Accordingly, he said a fresh Memorandum of Understanding (MOUs) will soon be signed with selected participating organisations to further drive the objectives of the project in the next two years. He said, “As I have often advocated skills acquisition remains the only viable solution to the numerous social and other developmental problems that have bedeviled us as a nation. However, this can only be achieved

it all stakeholders work as one, rather than in silos. “Our experience in this partnership and the successes recorded by emerging economies and developed countries of the world that have successfully transformed the economies using skills or position should be a model for us all.” He added that skills and vocational education programmes could potentially become a major antidote to unemployment, youth restiveness low disposable income, skill shortages and mismatch as well

as other socio economic challenges currently faced by our dear country, Nigeria. He said despite the numerous financial and social cultural challenges faced by the fund within 12 years of its existence, the number of participating organisations had increased over time. He explained that the institutions had risen from only about six which produced 285 highly skilled technicians in 2010 to currently 59 participating organisations and technical colleges.

Fidelity Bank launches ‘HerFidelity’ to Support Women-owned Businesses, Girls’ Academy Kayode Tokede In what has been termed a major push for breaking the gender bias in Nigeria, leading financial institution, Fidelity Bank Plc, in partnership with media entrepreneur-Linda Ikeji- celebrated the 2022 International Women’s Day (IWD) with an impressive networking event specifically for women to inspire one another, discuss pertinent challenges they face as well as proffer solutions on breaking the gender biases prevalent in the country. The high-profile event, held in Lagos featured several notable personalities including former World Bank Vice President and keynote speaker Dr. Oby Ezekwesili.

Welcoming guests to the event, the chief host and Managing Director/ CEO, Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe said: “Despite the challenges women face, we continue to play a significant role in driving the economic, social and cultural development of our communities. Indeed, a recent PwC Nigeria report indicated that 41 per cent of micro-businesses in Nigeria are run by women, with over 23 million female entrepreneurs operating in this segment. This exemplifies not only our drive as women but the immense value we bring to the table. Just imagine what we could achieve if the girl child is given the opportunity she deserves, encouraged to go to school and is judged by

her competence and not by her complements! The possibilities are endless. “In addition, we are supporting Dream Catchers Academy for Girls—a free educational and performing arts academy for orphaned and underserved girls— with the sum of 10 million naira for an IT centre at the academy as well as one year of coding training for the girls. We believe this will go a long way to assist the young ladies who need a helping hand while enhancing their knowledge in the areas of technology.” In her keynote speech, Ezekwesili, highlighted the importance of joining forces to fight gender

discrimination and inequality ravaging the country, emphasising that, “The power of collaboration and cooperation is key as implicit bias is not something you can fight alone. It requires a coalition effort. You must build your own coalition. “At every point in life, a woman must understand that she will face a major challenge because of the conditioning that society has given to itself. Therefore, build coalitions. We have the numbers and we must let the numbers work for us.” Speaking also, Ikeji stated that ‘break the bias’ means for women to question the norm, stressing that women needed to be conscious of things that hold them back from achieving their goals in life.

NIPOST, LASG Begin 20 Weeks Training Programme for Courier Operators Emma Okonji The Courier and Logistics Regulatory Department of the Nigerian Postal Service (NIPOST), in partnership with the Lagos State Ministry of Transportation, has commenced a training programme for all dispatch riders and delivery drivers in the courier and logistics business in the state. The 20 weeks training programme, which was declared open at the weekend by the Postmaster General/CEO of NIPOST, Dr. Ismail Adebayo Adewusi, seeks to instill professionalism among dispatch riders and delivery drivers, and to educate them on the rules and regulations governing courier business in the country. The training, which cuts across all states, commenced with Lagos State at the weekend, recording a large turnout of participants. Adewusi, who was represented at the opening ceremony of the training programme on Friday by the

Director, Nigerian Postal Institute, Dr. Julius Anjorin, said NIPOST and the Lagos State government had been in discussion for sometime on how best to train dispatch riders and delivery drivers in the state. The Permanent Secretary, Lagos State Ministry of Transportation, Mr. Kamar Olowoshago, said the training was designed to educate dispatch riders and delivery drivers in the courier and logistics sector. According to Olowoshago, “Overtime, people have taken interest in courier and logistics business and as the number of players increases, we saw the need to train them, because majority of them do not have basic knowledge of the courier and logistics business they are into. Lack of proper education and training have contributed to the reason why most of the dispatch riders contravene the law and also involve in sharp practices that are inimical to the growth of courier business in Nigeria.”

General Manager, Courier and Logistics Regulatory Department (CLRD), Mr. Gideon Oludotun Shonde, who expressed his joy that the training programme has commenced in Lagos, said the training would target 6,000 participants from Lagos State. “The partnership between NIPOST and the Lagos State Ministry of Transportation, is to create a synergy that will enhance courier and logistics business in the state. We have noticed reckless ridding and driving on Lagos roads and the reason for that, is because most of the drivers and riders lack proper training. As the regulator of courier and logistics business in Nigeria, we have deemed it fit to collaborate with the Drivers’ Institute of the Lagos State Ministry of Transportation, to properly train courier drivers and riders in Lagos State. We are beginning with Lagos State, with plans to take the training programme to other states of the federation, and the target is to train 6,000 of them from Lagos.

ExportTrade: NPA Flags-off Ikorodu Export ProcessingTerminal In keeping with the agenda of President Muhammadu Buhari’s administration to diversify the national economy and reduce dependence on oil exports, the Nigerian Ports Authority (NPA) has flagged off the first non-oil export processing terminal, situated in Ibeshe-Ikorodu, Lagos State. The event is coming ahead of the official launch of the 10 certified Export Processing Terminals, spread across Lagos and Ogun States. Speaking at the Ibeshe-Ikorodu facility, designated as EssLibra Terminal, the Managing Director of NPA, Mohammed Bello Koko, implored all agencies involved in the export processing value chain to deploy adequate personnel and work in synergy, to ensure efficiency and quick turnaround in the processing of export cargoes. Whilst commending the manage-

ment of EssLibra for the quality of facilities at the terminal, he assured them of the readiness of NPA to remove all impediments against the seamless handling of locally manufactured exports and agro-allied commodities. Bello Koko charged the management of the terminal to resist the temptation to veer off export processing for which the facility was built, as the rationale is to have a one stop shop where all inspection, consolidation and stuffing of exportbound cargo will be conducted in a synchronized manner in order to eliminate all the delays that hitherto rendered Nigeria’s non-oil exports uncompetitive. Speaking further, Bello Koko said the NPA management under his watch would effectively implement all government policies geared towards the promotion of exports, as well as strengthening indigenous

capacity through the promotion of local content. “We took cognizance of local content in the certification process of this terminal, and this is why I expect the host community to take ownership of this terminal and support its operations, in view of the multiplier benefits to the host community”, he said. Whilst conducting the NPA management team on a tour of the terminal, the Managing Director of EssLibra Nigeria Limited, Mr. Yemi Adunola, thanked the Authority and its technical partners, the Nigerian Export Promotion Council (NEPC), for their unalloyed support. He pledged his company’s readiness to render efficient services and a commitment to continuous improvement through sustained investments in human capital and requisite technology.

INVITATION TO NERC/BEDC CUSTOMER COMPLAINTS RESOLUTION MEETING The Management of BEDC Electricity Plc (BEDC) invites esteemed customers across our coverage areas of Delta, Edo, Ekiti and Ondo states to a 3-day Customer Complaints Resolution meeting organized by the Nigerian Electricity Regulatory Commission (NERC) geared towards creating awareness on the rights and obligations of customers as well as resolution of complaints. Date:

Wednesday, March 16th - Friday, March 18th 2022

Time:

10:00am – 4:00pm daily

Venue:

Protea Hotels, 4 Central Road, Off Sapele Road, Benin City, Edo State

The complaint resolution session will evolve into a collaborative desk where customers can have their complaints attended to with a view of resolution whilst also providing feedback for service improvements. BEDC…. Committed to serving you better Signed:

Management

MONDAY MARCH 14, 2022 • T H I S D AY

T H I S D AY ˾ MONDAY, MARCH 14, 2022

HOMES&DESIGN UBA House:

THE GLORY OF INNER MARINA

MONDAY, MARCH 14, 2022 ˾ T H I S D AY

HOMES&DESIGN

Nigeria’s Sturdy, Standalone Skyscraper UBA House on 57 Marina Road, Lagos, serves as United Bank for Africa Head Office (Nigeria and Africa). The elegant building is visible from most parts of Lagos Island, Ikoyi, and Victoria Island. It is an unmistakable landmark. Bennett Oghifo writes BA House is a standalone 22-storey skyscraper in the heart of inner Marina Road that hosts the headquarters of the United Bank for Africa. The building is one of the tallest structures in Nigeria. Most of its floors are used by UBA. A few floors are leased. Specifically, four floors are used for car parks. One floor holds a restaurant. The penthouse is for the chairman of the UBA Group.

The building has proximity to both the mainland and inner island. The tower is purpose-built to make a clear statement about the bank’s stability and undisputable huge size. It is a secure facility with access to vehicles properly designed and constructed for maximum effectiveness. Traffic into the building from ground zero is to ascend some steps at the entrance

and then elevators. There is an accessibility logo at the entrance. They have wheelchair parking at the entrance, which is automated too. Restrooms and front desks are available on each floor. Access to it by persons with disability is not a problem, as each of their needs is taken care of from the entrance to navigating the interior and its facilities. For instance, wheelchair users are

assisted by able-bodied personnel. Security is a priority consideration in the design of the building. Besides foot patrol, e-systems are installed with every space in the building covered with CCTV Surveillance. It is designed as a very corporate environment, with 24/7 electricity and security service. It is well secured, from well-dressed security men to pleasant front desk personnel. Also, there is a meet and greet waiting area.

MONDAY, MARCH 14, 2022 ˾ T H I S D AY

BUSINESSSPECIAL

Editor: Obinna Chima obinna.chima@thisdaylive.com 08024557078

Acce s s Ba n k : L everag i ng H o l dC o Structure for Expansion, Value Creation Transiting to a holding company structure will enable Access Bank Plc generate more revenue from other non-core banking business, expand its operation, remain competitive in the everchanging business environment and deliver more value to shareholders, writes Ugo Aliogo

s part of efforts to expand their operation and create more value for their shareholders, more commercial banks in Nigeria have in recent time gotten approval to convert their operations to holding company (HoldCo) structures. The banking model is expected to also help them diversify their revenue and remain competitive in the financial market. Previously, FBN Holdings, Stanbic IBTC Holdings and FCMB Group, were the three financial institutions operating holdco structures until last year when the central bank recently granted approval to Access Bank Plc, Guaranty Trust Bank and Sterling Bank and, to convert their operations to holdco. A holdco is a company set up for the purpose of making and managing (for its own account) equity investment in two or more companies, being its subsidiaries, engaged in the provision of financial services, one of which must be a bank. For Access Bank will has gotten all the required approvals to commence its holco, the financial institution believes that the move would enable to prioritise value creation, agility to create a self-reinforcing ecosystem. While Access Holdco would be the parent company in the new structure, the subsidiaries to be created under the new structure are: Access Bank Group; Access Payco Group; Access Lendco; Access Insureco; Access Real Estate, and Others (e.g., ecommerce). Precisely, there are five reasons the bank is transitioning towards a holdco and it includes value creation – to maximise revenue and value by establishing ecosystems; Agility – to enable the corporation to rapidly respond to a consistently changing market environment while maintaining oversight; to Leverage scale – that is to capture opportunities from local and global positioning to drive top and bottom-line growth; Best-in-class talent – to create an environment that would enable the corporation to hire the best and invest in innovation, entrepreneurship and leadership development, as well as to pool resources – by promote resource sharing and maximise synergies The bank is also using the wider banking model to build a self-reinforcing ecosystem that would be embedded in consumers’ lives It strongly believes that the new structure would leading to great ambitions for the institution supported by selected strong partnerships & enablers to scale and among other things, it would see the institution move from a local bank to a global brand, from banking only, to an institution that is beyond banking; from one that connects Nigeria, to one that connects the world. In addition, Access Bank would move from just touching consumers to becoming an institution that is embedded in the consumer life and from a situation where one in every two Nigerians have accounts with the bank, to one where one in every three Africans are its customers and also from being limited by the sovereign to one that is piercing the sovereign ceiling. March 22, 2022, will make it exactly 20 years after Aigboje Aig-Imoukhuede and Herbert Wigwe acquired Access Bank. Today, from being one of the smallest, most crisis-prone and obscure banks, Access Bank has evolved into a worldclass African financial institution.

Wigwe

The Chairman of the bank, Dr. Ajoritsedere Awosika, recently told shareholders that the board considered the restructuring to be the most appropriate to create strategic flexibility and diversification of the group’s revenues. Awosika said the restructuring would result in shareholders holding shares in the holdco in the same proportion as their current holdings in the bank and the bank’s shares being held wholly by the Holdco. On the justification for the restructuring, Awosika said the transition to a financial holding company was in line with considerations such as regulatory compliance, facilitation of growth and expansion in banking across Africa, diversification into permissible financial services and risk management. Awosika explained that the structure would unburden the bank from oversight functions and responsibilities of managing the subsidiaries. Also, the Group Managing Director/ CEO, Herbert Wigwe, appreciated the shareholders for their continuous support since the inception of the bank in 2002. Wigwe assured the shareholders that the board and management would remain committed to decisions that would take the bank to the next level. “The institution has grown beyond a lot of one of those things, even the very presence of your institution in several countries requires a different

organisational structure to handle all of those things. “If anybody tells you that there is one managing director who will oversee 20 or 30 countries, it’s a lie. We have to continuously evolve and create a structure that will ensure there is proper oversight over the subsidiaries,” Wigwe said. Wigwe had disclosed that he was leveraging on the African Continental Free Trade Area agreement (AfCFTA) to expand the bank’s footprints across the continent. According to him, the plan is for the bank to establish its presence in 22 African countries as well as some strategic locations outside the continent so as to diversify its earnings and take advantage of growth opportunities in Africa. Wigwe, who took over from his close friend and business partner in January 2014, has ensured that the bank maintained its growth trajectory. Today, the bank which then was ranked 65th among 89 banks operating in the country is presently one of the five largest in Nigeria in terms of assets, loans, deposits and branch network; a feat which has been achieved through a robust long-term approach to client solutions – providing committed and innovative advice. Wigwe believes that Africa has enormous potential and there are opportunities for an African bank that is well run, that understands compliance and has the capacity to

support trade and the right technology infrastructure to support payments and remittances, without taking incremental risks. “We believe that we are best positioned to basically do all of that. Our focus is to become an aggregator in Africa and we are building a global payment gateway and providing trade finance support and correspondent banking across the continent. We are focusing on the key markets. “The approach would always be that in the country we wish to go to, that we have the right skills. We would not just be a drop in the country in which we are present, we would make sure that we have an impactful presence in each of the major countries in which we are present. “In doing this, we are also mindful of the country we are going to so as to make sure that it is of benefit to the bank. As we do this, we are working with our friends and partners. “We are diversifying our earnings away from volatile markets as well and we are orchestrating our operations from the global payments gateway and ensuring that using Access Bank UK, providing corresponding services from digital platforms, the overall profitability of our franchise,” the bank CEO explained. Today, Wigwe understands that without embracing change and having foresights, banks would not be able to compete and would be left behind by their peers. This, would definitely impact customer satisfaction, operational efficiency, and revenue growth negatively. This is why he has continuously ensured that Access Bank under his watch is presently one of Africa’s leading financial services groups. He has shown a relentless pursuit for growth, but in a measured and calculated manner. “We believe that we are best positioned to basically do all of that. Our focus is to become an aggregator in Africa and we are building a global payment gateway and providing trade finance support and correspondent banking across the continent. We are focusing on the key markets. “The approach would always be that in the country we wish to go to, that we have the right skills. We would not just be a drop in the country in which we are present, we would make sure that we have an impactful presence in each of the major countries in which we are present,” he added. Specifically, the President, Association for the Advancement of the Rights of Nigerian Shareholders, Dr Farouk Umar, commended the board and management for the foresight of transforming the bank to Holdco. Umar said that Holdco structure would help in risk management and as well enable the company to diversify into other business opportunities to increase profitability. President, New Dimension Shareholders Association, Patrick Ajudua, described the Holdco structure as a welcome development that would impact positively on the bank’s bottom-line and improve shareholders’ value. Ajudua commended the management for smooth running of the affairs of the bank, urging them to ensure enhanced returns on investment for stakeholders going forward.

T H I S D AY ˾ MONDAY, MARCH 14, 2022

BUSINESS SPECIAL

INTERVIEW

Subomi Balogun: At 88, I’m Not Tired, Still Have Lots to Accomplish The Founder, FCMB, Otunba Michael Olasubomi Balogun in this interview that took place few days to his 88th birthday stressed that his life has been a miracle, adding that his path from youth had been divinely ordered. Dike Onwuamaeze brings the excerpts: When you started out as young entrepreneur many years ago, you had some ambitions. But your businesses seem to have gone beyond your expectations. How do you feel about this sir? t makes me humble. As I have always said, God is my guide and consummate supporter. I started out as a stockbroker and with due appreciation to my God, I was the first Nigerian to single-handedly set up a stockbroking firm, just as I was also the first Nigerian to set-up a merchant bank. I call it the grace of God. Let me tell you one thing. A very wellknown Nigerian who runs a financial institution, in fact, a conglomerate, once came to me and said, sir, you hardly speak for one or two minutes without referring to your God, and I smiled and said, you have said it all. Let me tell you a secret, all the businesses I have established, the good Lord had suggested them to me, and I have always been a pioneer. May be you didn’t know that I only trained as a lawyer. Subsequently, the government of the then Western Region trained me in the British Parliament to be a parliamentary draftsman. When ultimately the government of Nigeria, in fact, the leader of the Central Bank decided to set-up a development bank, and brought in the World Bank as their partner, I was just in my place when a very good friend, Gamaliel Onosede (may his soul rest in peace) came to my house (I was then living at Glover Road, Ikoyi) and said “Mike, there’s this development bank being set-up by the government and the World Bank. I am sure they will need a legal draftsman to be drafting agreements. Given your background and the fact that you seem to be multifaceted in your different interests, I think this could be a situation that will open your eyes to so many things.” He asked me to apply for that job, and I did. When we were called for interview, there were about 25 lawyers. I didn’t know what it was all about, but being a lawyer and draftsman, something just occurred to me. I had a boss in the Federal Ministry of Justice; he called me and said I pray you get the job you’re going for, because it will catapult you beyond your expectations to heights that you do not expect. I said, “sir, it’s just a bank,” but he said no, “it’s a Development Bank, and they have all sorts of branches.” The one he thought would interest me would be the activities on the Nigerian Stock Exchange; selling stocks, in addition to putting companies up for the sales of their shares. When he finished talking, I just said, thank you big brother. So I went for the interview. I was still very young, and at about the age of 30 years, I had acquired a lot of experience. When the government of Western Region was training me for parliamentary draftsmanship, in addition to the British parliament, I was sent to the City of

Balogun

“Most of the things that have happened to me were divinely ordered, and for the rest of my life, even in eternity, continue appreciating my God.”

London to train in legal drafting, so that I would not just be drafting law, but also agreements. So with all that, even though I was just a lawyer, I was keeping my ears and my interest open. In those days, if anybody was doing anything that had to do with economic development and finance, I would go on the Nigerian Television to talk about it. The venerated Mike Omolayode used to have a programme. I was always seen on that programme. A lot of business people usually watch that programme. It was to the extent that some of my friends would say, “eh! Mike, I thought you only read law, what have you got to do with finance?” I said it’s just one of those things. So many lawyers came for that interview and out of 25, I was picked. And for the life of me, I didn’t know anybody on the panel. The chairman who is now my mentor, Chief Chris Ogunbajo, was so impressed about my performance that he telephoned a neighbour of his, Mr T. K Seiko, a lawyer, and said “that your Lagos friend, the Lagos boy, Subomi is very brilliant – he was easily the best of the lawyers and we are going to recommend him.” So the late T.K Seiko telephoned me and said, “Subomi, we have just been talking about you. Do you know Chris Ogunbajo? He’s just been saying that

you came for an interview and from the number of lawyers that attended, you’re simply the best, and they’re going to recommend you.” So I said, “is it possible for you to introduce me to him, I will drive from Broad Street to come and see him?” And he said I should come. So I drove in my Peugeot and got there. I met the late Chief Ogunbanjo, my God’s chosen mentor, and he said to me, “I didn’t know you’re an Ijebu, I thought you were a Lagos boy, and I said no sir, I am an Ijebu.” He said, “well, you came for an interview and I was the chairman of the panel, I believe we’re going to recommend you.” I said thank you sir, and left. So, in my early thirties, I got another big job in a financial institution – the Nigerian Industrial Development Bank (NIDB). Not long after that, the NIBD decided to send me to the World Bank in Washington and also to Wall Street in New York, and I felt it was an opening. There, I met distinguished lawyers who were heading stockbroking firms. I met investment bankers who were there. When I returned from my training, I went to my bosses and said we should have an investment bank as our subsidiary to be raising money and doing other things. It took them some time to accept. I didn’t know what their reason was. Maybe

they thought I was ambitious, but God has his ways of opening doors for me. Suddenly, I was invited with another candidate, a chartered accountant and the first Nigerian woman to be trained as a chartered accountant, the late Mrs. Olutoyin Olakunri, and our bosses told us that both of us would be doing something about Icon Securities. All these were preparations that were being divinely made. I was just being someone who wanted to do everything by nature. So whenever I arrived at anywhere activities were going on, I showed interest. Let me tell you something: as human beings, we wish for something, but it is the good Lord that decides what will ultimately happen. So one day I called my wife and said I wanted to resign and after resigning, I decided to set-up a stockbroking firm. Why I keep referring to God is that the good Lord has done wonderful things around me. I only trained as a lawyer, I keep on saying that. I incorporated my own company known as City Securities and when many friends asked me who my partners were, I said my God. So I set-up a stockbroking firm and gravitated to capital issues. I handled the sale of UAC, Daily Times, and many others. I was the one who first brought in Coca Cola into the market. Then, during the Nigerian Indigenisation Programme, there were Continued on page 37

MONDAY, MARCH 14, 2022 ˾ T H I S D AY

BUSINESS SPECIAL

INTERVIEW

I’m grateful to God

“When I was young, I remember I wrote a paper which I gave General Ibrahim Babangida about whether to devalue the naira or not. I did it because it was like I received a vision. Today, I can only pray that it shall be well with the country because this country belongs to all of us.” four oil marketing companies. I handled three of them - Mobil, Texaco, and Total, except BP. Everybody was wondering what’s happening, and quite frankly, it was all miracle to me. And that’s why I have devoted my life to continue thanking my God and praising him. Most of the things that have happened to me were divinely ordered, and for the rest of my life, even in eternity, continue appreciating my God. City Securities was born, and went I had succeeded selling everybody’s shares, I said to myself why don’t I set-up a bank? And one of two people in the Central Bank said I was crazy. In anyway, God was projecting me and I was going. So I applied for a banking licence, singlehandedly. And my licence was refused initially and we later got it. When you established the bank, were there challenges and if yes, how were you able to navigate the thorns? I have a childish habit. Any time I want to do something, I would write it down and put it inside the Bible in my altar; I would be asking God just like I said when I wanted to start everything: “My God, show me the way. Don’t let me make wrong choices.” I would just throw myself into the arms of my maker and tell Him to help me. My whole life is a wonder to me. And I am saying it again, I only had a degree in law, but the ideas are just coming. When you talk of FCMB, I was the first to conceive the idea of Group structure. We had what I call a financial supermarket. I had a stockbroking company, a capital issue company and then we set-up the bank itself. And after that, I had an asset management company, pension management, etc. All the companies, I call them First City Group, and recently we changed the name to FCMB Group. To be honest with you, I admit that I am not the one doing all this, the ideas just come to me and I don’t understand. So I am spending the rest of my life just thanking my God and doing anything that the good Lord will guide me do. As regard challenges, I will say no one is greater than God. Once you embrace your God, whatever challenges you have would be subsumed in the divine achievements. For example, as I said earlier on, when we wanted a

licence, someone said don’t give it to him, he is a friend of Awolowo. But I prefer talking about what God has done for me rather than telling the challenges. And at 88, I am not tired. I am still wearing suits like you youngmen, because I believe the good Lord still has a lot of work to give me to do. So I have dedicated my life to serving Him. As a pioneer in this industry given what the economy is like now. What do you think can be done? I try not to talk about what somebody is doing right or wrong. Rather, I spend my quality time praying for this country. I tell you something, whenever I kneel down to pray, I, first of all, thank my God. Then I thank him for what he has done for my wife, my family, my children, the FCMB Group, then to my neighbours, and then ask God to bless Nigeria. That’s the routine I go through every day, I don’t dabble into that because ultimately, God does what he wants to do. In fact, when I was young, I remember I wrote a paper which I gave General Ibrahim Babangida about whether to devalue the naira or not. I did it because it was like I received a vision. Today, I can only pray that it shall be well with the country because this country belongs to all of us. Do you see ﬁntech companies as a threat to commercial banks? Every bank is expanding into different businesses. Quite a lot of banks have diversified into pension funds management. And technology has been a critical instrument. In our own case, capital market and normal banking will meet together. If you are trying to raise money from the capital market, we have a company that handles that, if you want to buy shares from the Stock Exchange, we have. And if you want to go into real banking, even mortgages, even as we speak, our bank is trying to help people who want to get their own homes, so we are doing everything. That was why I said I conceived the idea of Group structure and with a due sense of modesty, I think I would

be one of the people who first started the idea of Group. I called it First City Group. There are a lot of avenues a bank or a financial institution can go into. And I am encouraging the younger bankers not just to limit their activities to core banking but to go into different aspects of financial services. Truth is that what I would call financial assistance to communities is very wide, which may include what is today expressed as financial inclusion, where technology has become the vehicle. Fintech companies are merely complementing what the traditional institutions had first started. FCMB this morning, I read in the newspapersor instance, is asking people to come take money, to build their own houses, we’re getting strong into pensions, we’re asking for assets to be managed for us, we’re trying to be financial advisers. That was the idea I had, I call it financial supermarket. Any igneous banker would not just stay in mundane banking. For instance, if you go on the streets of Lagos, you will see some locals selling dollars. Some institutions have institutionalised this and added it to their banking. Let me emphasised this, there’s no end to what you can do with financial services, not just banking alone. There is hardly nothing that is not within the financial services today, which we generally call banking. I started as a capital market man and I still recall people calling me ‘Colossus’, the ‘Grandmaster’ because I dabbled into many things. I was always seen in the market. The one thing I am thankful to God for is that he has always made me a multifaceted businessman. Young CEOs should go beyond mundane banking, they should extend their tentacles, buy into other companies by acquiring their shares. Every year in commemoration of your birthday, you always have a project to tell God, thank you. This year, what is that project you want to give to humanity? Yes, that’s true. First of all, I want to thank my God for sparing my life. But please forgive me; I like to do my things quietly. The good Lord will

continue to spare our lives. I have not finished with what God has directed me for do to my neighbours. I am here to serve my God and my neighbours. I have a lot of ideas and I am going on doing them. Out of the blues, about two years ago, the University of Ibadan decided to name their conference centre and hotel in my name. I have even forgotten what I did there. I think I am subdued by the overwhelming manifestation of God’s love and all I want to be doing is praising and thanking my God for letting me do what I have been doing. And one of the things I am always afraid of, is when I talk too much, they would say, he is always calling God as if that God belongs to him alone. But I have my reasons. My whole life is a manifestation of exceeding love, and I have dedicated myself to serving Him for the rest of my life. I pray to God, He is not inviting me yet. You had a friend who went into politics and eventually became vice president, Alex Ekwueme, why were you never attracted to politics? No! I think I was being divinely propelled. I was close to Baba Awolowo, and to many people in government, including the attorney-general who opposed my licence, because he said in their council meeting, “if you give that man licence, an election is coming, he’s going to support Awolowo.” I have written all these in my book. God knows the best. You once said you love swimming, now at 88, do you still swim? By the grace of the almighty God, every home I have built, I have always had a swimming pool because I have been anticipating that by the time I get old, I will not be able to amble around, as I normally do. The one thing that has actually assisted me apart from the grace of the almighty God, is that I have been a bit restless. I try to exercise every part of my body and my cerebral capacities. Having a swimming pool is one exercise you can go into and without much stress, you can stretch your limbs because the gravity in the water will reduce the amount of energy you have to put in, but it’s still very effective, even more effective than strolling. I have always had the ambition that I will live long, and so far, the good Lord has been with me.

T H I S D AY ˾ MONDAY MARCH 14, 2022

CITYSTRINGS

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

Yahoo Plus: Nigerian Youths, Ritual Killings and Quest for Wealth As more youths get entrapped with the myth of making money through ritual killings, David-Chyddy Eleke looks at the trend, factors that fuel it and what society is doing to curb the menace

huks (not real name) was a second year student of Nnamdi Azikiwe University, Awka. He lived in a hostel in the same neighbourhood with this reporter. He was a level headed dude, whose age then can be put at between 23 and 25. He is not blessed with rich parents, and to make ends meet, he sometimes helped his fellow students to wash their clothes. During the long vacation of 2017, Chuks disappeared. He probably travelled to meet his parents like most students did, but on the commencement of the next academic year, he failed to return to continue his studies. He however visited the neighbourhood in a clean Toyota Venza SUV around November of the same year. “Chuks, you brought your parents vehicle to school to come and show off, is it not?” This reporter queried Chuks jokingly. He simply smiled wryly in an unruffled manner, and stated that the car was his. He bought drinks for his former hostel mates, and later left. Much later, one of the hotel mates to whom another marveled about the speedy transformation Chuks experienced was told: “Oga, no go kill yourself ooo. Chuks is into yahoo plus. He just bought a plot of land for N50 million at Okpuno (near Awka), and has said that once he returns again, he was going to erect a plaza there.” This reporter has however not set eyes on Chuks in the five years that has passed. Chuks is just one out of very many youths who have abandoned their education and are pursuing wealth with vigour, and doing so by every means possible, including killings and other fetish practices that involve human lives. Recently, there have been cases of such fetish practices by youths in various parts of Nigeria. In Imo State, news recently broke about a young man who was visited by his mother in a hotel. The poor woman who probably was coming to visit his son who (maybe) is in school bought fruits to be presented to him, but he ended up attempting to kill her, for money ritual. Also, in Ogun State, the news of the killing of a certain girl, identified as Rofiat by her boyfriend and his friends is still fresh too. The case of Rofiat was pathetic because she did not survive. Her head was cut off by the teenagers, and was being roasted in a clay pot, when they were apprehended by the police. In Imo, another incident, which has been dismissed as a comedy skit has still not convincingly been expunged from the memories of the people, as some youths sat in a popular roundabout in Owerri, excreting and using bread to dip in it as sauce before eating. Evolving Identity Practices like these have been named as ‘Yahoo plus’ in the Nigerian parlance. THISDAY made enquiries about the name yahoo plus, and how it evolved. Yahoo Yahoo is a popular name for internet scammers, most of who operated with laptops. It was easy to see someone with a laptop being referred to as a Yahoo Boy; several ways by which Yahoo Boys operate were identified. A student of Nnamdi Azikiwe University who preferred to be anonymous said he had friends who were into internet scams. “It is either you are into love scams, or you pose as a business magnate, with the aim of defrauding some greedy white people, through bogus proposals. The one I have seen a lot of guys do is love scams, where young boys go into dating sites, search for white women, some of them widows, some rich and unmarried. " Some just have a craving for black guys, and as the relationship blossom, the boys look for a way to rip off the women, before closing their accounts in the site and moving on.” THISDAY gathered that as more people became alert about internet scams, young boys started engaging native doctors to make charms for them to hypnotise and defraud their victims. The involvement of the native doctor it was gathered is what make their activities ‘Yahoo Plus’. “Some of these boys are told by their native

Suspected ritual killers doctors to call the names of their victims a specified number of times, and perform incantations before going to them for businesses, or making phone calls to them. "Some are asked to perform sacrifices by assembling children and buying them gifts before engaging in the activity. Sometimes, they have to buy things, put them in a plate and drop them in a crossroad at midnight, just to ensure that their victim parts with money,” the source revealed. However, those who engage in these practices may have found that it is becoming increasingly tough to get victims to part with money, so, they have resorted to other means, and sticking to the name - yahoo plus. Dependence on Charms Meanwhile, investigations around the internet have revealed some of the practices young people are into, to ensure they make wealth. Oke ite and nne ite are said to be kinds of charms prepared by young people who are on the fast lane, on the instruction of native doctors to generate wealth. It was gathered that the charms are prepared with different animals, including dog and human blood, etc. Different types of roots and herbs are combined with different drinks, all to produce Okeite or Nneite, which they believe draws unlimited wealth to them. A materials sourced from the internet stated that: “Okeite is something that you will be repairing through blood sacrifice from time to time and is something that will one day start demanding for children or young women's blood. Okeite can make a man impotent, and even eventually one day it will start demanding for your loved once. Most yahoo guys are into Okeite or Nneite. “The truth is any charm you do in this life requires steady sacrifice to keep working. Our youths are desperate and in hurry to make it in life that they forget one day they will cry. In few years to come, so many of our youths are going to die mysteriously, some will run mad, some are going to be impotent, because of Okeite. I wish I can explain more! “Just note that Okeite is bad and Evil! Okeite is just commanding your whole life

wealth (money) to come at once. Sometimes it will involve your children, if it didn't take your life or children's life, it will make your children useless, because some will command your fourth generation wealth and give it to you and later your children won’t be able to achieve anything, more than what you left for them. " Okeite is very bad! While doing this charm they will call on very wicked spirit. They will only invite very wicked evil spirits that won't forgive you if you fail your agreement!” Causal Factors Many things have been mentioned as the reason for the craving for wealth by young people. They include the showy lifestyle of rich individuals, ostentatious display of wealth by music stars and even that of religious leaders. More factors include: lyrics contained in music by some music idols, prosperity preaching by some religious leaders and the belief that God is an impossibility specialist who can do anything, including making one a millionaire overnight, Nollywood films where such messages are constantly pushed, and the failure of parental control by most homes. Counter Argument There have however been some arguments about inexistence of money rituals. Those who push these arguments believe that innocent and unsuspecting youths are only pushed into killings, while those who are into the business sell off the body parts and make a killing from its sales, while flying the kite of making money through rituals. Owner of Silverbird Group, and former Senator, Mr Ben Bruce is among those who believe that ritual cannot make anyone rich. In a tweet last week, Bruce said: “Leaders of tomorrow now engage in unimaginable crimes just to become millionaires overnight. What has suddenly gone wrong with young people who now believe that rituals involving human blood will make them rich? " So many Nigerians go missing daily, and while many are never found. Some are found dead with body parts missing. We must work to stop this trend. The narrative that poverty and unemployment get young

"I want young people to know that there is no shortcut to being wealthy without hard work. Killing a human being for ritual purposes will not make you rich overnight. It will only take you to hell"

people into ritual killings must not be accepted. He said: “I want young people to know that there is no shortcut to being wealthy without hard work. Killing a human being for ritual purposes will not make you rich overnight. It will only take you to hell." Collective Efforts Meanwhile, some people have started condemning the act, and also standing up to it. A pentecostal church in Onitsha, Grace of God Mission International, led by Bishop Paul Nwachukwu last Sunday held a prayer rally of all members of his church through the streets of Onitsha to protest money ritual related killings in the state and the country at large. “Today is a very big and great day. Grace of God youths held a rally all over the streets of Onitsha, declaring and making it loud and clear that ‘yahoo plus’, ‘mkpulummili’ (hard drugs) and every kinds of cultism shall never end in Onitsha. We prayed against the spirit of wickedness and lawlessness, praying that the youths will start to live a life that will bring glory to Christ. Honour their parents and be a blessing to the society,” he said. Some people have advocated that identified yahoo boys, be put through serious flogging just as was done with consumers of methamphetamine, popularly known as mkpurummiri, as that may be the solution. Taking to his social media handle, a user identified as Uba Nwauba said: "We flogged Mkpurummiri consumers, and today, they have all repented. Why can't we start flogging yahoo boys too. Is it because they have money and drive big cars?" Already, as a way to curtail the excesses of young people into yahoo plus, lots of higher institutions in the South-east have started joining in the fight, and taking measure to stop the trend. In 2021, Adeyemi college of Education, Ondo State stopped students from driving in the campus. In January 2022, authorities of Abia State University, Uturu, Abia State also stopped students from taking their cars into the school compound. Also, Federal Polytechnic, Nekede, Imo State has taken same step. THISDAY gathered that this step became necessary in institutions of higher learning as students, using exotic cars, and suspected to be yahoo boys now intimidate lecturers, and also distract other students from their studies, and have become role model to lots of students, who now flock after them, becoming distracted from their studies. The fear of the university authorities taking this step may be to forestall students toeing the line of Chuks, who abandoned studies in pursuit of illegitimate wealth. The fear too is that once these kind of people become the role model, the university environment may soon be devoid of people seeking knowledge, as all may join in the quest for quick wealth.

T H I S D AY ˾ MONDAY MARCH 14, 2022

CRIME

Lagos State Enforces Safeguarding and Child Protection Policies in Institutions

CRIME SITUATION REPORTS

FIRE MANAGEMENT: PREVENTION, DETECTION, AND RESPONSE TECHNICS/APPROACHES (5) Gbolahan Samuel Moronfolu

M e a s u r e s t o i m p r ov e fire protection in public buildings Education, training and information to raise awareness and cautiousness of occupants, employees and t h o s e re s p o n s i b l e f o r a c tivities in a building Education is the most effective measure to prevent f i re s i n p u b l i c b u i l d i n g s . This is important for the general public, but even more essential for personnel. Both employees and company leaders need to u n d e r s t a n d f i re r i s k s . Systematic self-auditing o f f i re p re v e n t i o n w o r k : It is important to make it d i ff i c u l t f o r a r s o n i s t s t o target the building and to c h e c k f i re p re v e n t i o n i n concealed spaces in the building. The early detection of a n y f i re i s c l e a r l y v i t a l i n public buildings. Educat i o n a n d i n f o r m a t i o n a re also important so that personnel can deal with a fire in this phase - employees should be able to put out a f i re a t t h i s s t a g e . It is important to have a u t o m a t i c f i re a l a r m s f o r

Cross section of participants at the sensitisation campaign Chiamaka Ozulumba

he Lagos State government under the aegis of the Lagos State Domestic and Sexual Violence Agency and the Office of Education Quality Assurance has commenced implementation of the State’s Safeguarding and Child Protection Programme. The one-day sensitisation program, which held on the 28th of February, 2022 at Adeyemi Bero Auditorium, Alausa was aimed at educating principals, heads of schools and school administrators on the safeguarding and child protection policy of the Lagos state government. The program was facilitated by erudite child protection experts which include the DirectorGeneral , Office of Education Quality Assurance, Mrs. Abiola Seriki-Ayeni, Mr.Taiwo Akinlami and Mrs. Modupeola Saheed Adebmabo. In her welcome address, the Executive Secretary of DSVA, Mrs. Titilola Vivour Adeniyi underscored the fact that whilst most child abuse occur within families and communities, children also experience abuse and exploitation in organisations that provide them with support and services. According to her, research has shown that physical, emotional abuse and neglect

in child focused organisations and institutions are less systematic and usually unplanned, as it stems from poor conditions, bad work practices and negligent management. She therefore noted that it is mandatory for all child centred institutions to adopt and ensure full implementation of a Safeguarding and Child Protection policy. The Director-General Mrs. Abiola Seriki- Ayeni, delivering the first paper, highlighted the need for schools to recognise the role they play in ensuring the wellbeing and safety of children, especially as children spend a significant time of their day in school. The Director-General urged participants to take advantage of the free online course “Introduction of Safeguarding and Child Protection Policy” which over 10,000 educators have successfully completed, encouraging those who haven’t taken the course to do so. Also, at the sensitisation programme, Mrs. Adebambo provided an overview of the Executive Order on Safeguarding and Child Protection programme, whilst emphasising critical measures schools should

take in ensuring the safety of their students, some of which include; safer recruitment procedures, adopting a safeguarding policy, having a designated safeguarding officer and establishing reporting, recording and feedback mechanisms. Mr. Taiwo Akinlami on his part, gave an insight into what child’s rights entail, societal and cultural perceptions of children as well as norms and beliefs that encourage child abuse. The issue of corporal punishment was also discussed, even as participants were reminded of the State Government’s No-Caning policy. A total of 400 primary and secondary schools, drawn from both public and private schools in Education District 6 were in attendance as participants were given the relevant tools required in ensuring they are able to effectively establish and implement Safeguarding and Child Protection Policy in their institutions. The program is to be implemented in all education districts, thereby reiterating Mr. Governor Sanwo-Olu’s Administration’s commitment in ensuring the safety and protection of all children in Lagos State.

early detection and equipment and training so that evacuation can start and t h e f i re b e p u t o u t o r i t s s p re a d l i m i t e d . It is important to have a h i g h l e v e l o f f i re s a f e t y in public buildings since o t h e r w i s e v i s i t o r s a re e x posed to danger. People in the building have a right to expect that those who build or lead the activities there have considered the risk of arson and taken measures to protect visitors from it. T h e l o c a l f i re a u t h o r i ties should develop their work with inspection and supervision so that better judgments can be made. The fire brigades must be w e l l p re p a re d f o r f i re s i n public buildings since in certain situations they may b e re q u i re d h e l p p e o p l e e s c a p e f ro m a f i re . -Moronfolu is a seasoned security consultant with many years of security and policing experience. FELLOW, Fourth Estate Professional Society (FFPS), he has also partaken in peace keeping operations within and outside the country and has flair for general security education.

MONDAY MARCH 14, 2022 • T H I S D AY

T H I S D AY ˾ ˜ ͯͲ˜ 2022

BUSINESS/MONEYGUIDE

‘Netcore Cloud, Axon Analytics Offer Top Digital Marketing Solutions in Nigeria’ Netcore Cloud, a leading interactive marketing solution provider and Axon analytics, a creative digital agency in Nigeria have stated that their joint venture has offered top-quality digital marketing services to customers in Nigeria in the last five years. According to the company’s Regional Vice President- Africa, Nisham Chhabra, Netcore cloud is a global Martech product company that helps B2C brands create exceptionally seamless digital experiences for customers that help in acquisition, engagement and retention. Backed by marketing automation and personalization, it has enabled four of the largest banks in Nigeria to develop a digital-first approach for their customers across email, mobile apps and social media. He said: “While banking was already moving towards digitalization, the last 18 months of the lockdown has accelerated its pace further. Millions of Nigerians have grown comfortable with the

idea of banking from the comfort of their homes. Identifying this emerging need for digital experiences, Netcore Cloud enables marketers to go digital smoothly and create exceptional consumer experiences. Armed with a full-stack growth platform for marketing, product management, growth management, and customer engagement, Netcore Cloud identifies large pools of customer data and transforms it into valuable insights in real-time to fuel every aspect of a business’s digital growth”. On his part, Netcore’s Client Success Manager, Chukwudi Nwokike, explained further that for over two decades, Netcore Cloud has been the trusted partner and a leading player in creating smooth digital experiences and solutions for Banking and Financial institutions around the globe. Today, the company stands tall in AI-powered customer retention by the largest banks in Nigeria. Several Nigerian banks, he said, have successfully delivered

unique digital consumer journeys with Netcore Cloud in the last five years since the partnership with Axon Analytics began. As a result, he said thousands of Nigerians have been benefiting from superior banking at the touch of a few buttons. While analyzing the benefits of both company’s partnership to the Nigerian digital and marketing communications industry, he said that Axon Analytics’ strong connections within the country ensures that Netcore is uniquely primed to pivot into new services and markets quickly and has shown a deft ability to expand into adjacent markets such as Insurance, Fintech, Travel, and Logistics, as well as E-commerce, recording massive successes in a short time. “The partnership between both visionary companies have quickly cemented their position as the established face of digital business solutions and paved the way for omnichannel marketing for key Nigerian sectors and industries, ”he expressed.

L-R: Wife of the celebrant, Olushola Fagade; Founder and Managing Director, Sodium Group, Abisoye Fagade and Former Deputy Governor, Lagos State, Otunba Femi Pedro, at an event hosted by Friends of Fagade Abisoye held in Lagos... recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

Alegbesogie: WhyVitafoam AcquiredVono The Finance Director, Vitafoam Nigeria PLC, Mr Joseph Alegbesogie has explained that Vono Furniture Products Limited was acquired as a strategic diversification of Vitafoam into furniture business. Vono is an indigenous manufacturer of building materials such as furniture, metal furniture, wooden furniture and soft furniture amongst others. Addressing the members of the Nigerian Institute of Builders (NIOB), Lagos State Chapter, during facility tour of Vono premises in Lagos recently, Alegbesogie explained that Vono an indigenous company had comparative advantage in the production of quality furniture at affordable prices. According to him ,Vono is

open to partnership with any professional association whose members use the company’s products and services. “ Vitafoam’s acquisition of Vono is consistent with Vitafoam’s diversification into full household materials. Vono is now the furniture arm of the Group. Vitafoam is no longer about foams alone. Our other subsidiaries are Vitapur, Vitablom, VitaVisco, Vitaparts and Vono Products. We are ready to go into strategic partnership with NIOB to ensure Nigerians get quality products at affordable prices, ”Alegbesogie said. Speaking at the facility tour, the Honorary Secretary, NIOB, Mr. Ogundare Abiodun commended Vono for its giant stride in the

production of modern building materials and expressed his Institute’s willingness to collaborate with the company for mutual benefits. “ The main purpose of our visit is to be a strategic partner with Vono furniture and be able to create awareness of its product to the general public and the processes of manufacturing the products. For any company to generate profit, it’s products and services also should be competitive, ”Abiodun said. Earlier in his presentation, Vono’s Operations Manager, Mr. Raji Shina explained that Vono was the only company in Nigeria that produces metal furniture, wooden furniture and soft furniture.

Oak Holdings Launches in Nigeria’s Financial Market The Oak Holdings, a hybrid financial institution group, has launched into the Nigerian financial industry with Oak Homes, The Oak Capital, The Oak Digital Bank and The Oak Asset Management to provide services to different clients in the financial services industry. Speaking at the launching ceremony in Lagos over the weekend, Mr. Olukayode Olusanya, Founder and Chief Executive Officer (CEO) of the group said, the company’s multiasset strategy combines different types of assets, including equities, fixed income securities, private/ mutual funds, indexing, money

market instruments among others to create a more nimble, broadly diversified portfolio for its proprietary investment objectives. Olusanya explained that Oak Homes is a leading real estate development company with its primary business in Lagos, Nigeria but it has recently made foray into the United Kingdom and the United States. He added that in addition to core real estate development, the company is also engaged in facility management, construction and infrastructure development. He said The Oak Capital is a venture capital firm with a bias for supporting underserved

start-up founders creating lasting solutions to problems in the African continent by leveraging the use of technology to promote growth of their businesses. According to the Founder, The Oak Capital seeks to back audacious, young entrepreneurs who are solving critical problems across different sectors in Africa, by providing pre-seed and seed stage funding. Citing statistics from the Credit Bureau Association of Nigeria, Olusanya said limited funding remains a critical bottleneck to the growth of small businesses in Nigeria, as only about four percent have access to credit.

Abisoye Fagade Celebrates Birthday in Grand Style Friends, colleagues, partners and family members gathered to celebrate Abisoye Fagade as he marked his birthday party on Wednesday, March 8, 2022. The star-studded event was organised by Friends of Fagade Abisoye, and held at the prestigious Civic Center, Victoria Island, Lagos. The event was well attended by Nigerian political heavyweights who showed up to support Fagade, some notable faces were; Otunba Femi Pedro, former Deputy Governor, Lagos State;

Shina Peller, Member, House of Reps; Steve Ayorinde, former Commissioner for Tourism, Arts and Culture, Lagos, and Honorable Titi Oseni-Gomez, former Ogun Speaker. Including royal fathers, Oba Francis Olusola Alao, Olugbon of Orile-Igbon in Surulere, Ogbomosho, Oyo State; Oba Abdulwasiu Omogbolahan Lawal, Oniru of Iru Land, and former Assistant Inspector General of Police (RTD), Aare Akogun Tunji Alapini.

While giving a speech at the event, Fagade announced the official launch of his foundation - OSMD Network, and pledged his support to the State. “As you already know, I have been giving back to my state and local communities in Oyo, through the Oyo Si Maa Dun project. We have trained over 10,000 people in 5years, donated over N250M to different causes, and intervened in so many areas in local governments across Ibadan.” he said.

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

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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 THURSDAY, OCTOBER 7

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

T H I S D AY ˾ ˜ ͯͲ˜ ͰͮͰͰ

NGX Gets SEC Approval to Charge 0.0375% on Fixed Income Primary Issuance Kayode Tokede The Nigerian Exchange Limited (NGX) has received approval from the Securities and Exchange Commission (SEC) to commence 0.0375 per cent fees on corporate bonds of issuers with an existing equity on the bourse. The latest notification titled: “The revised fees on fixed income primary issuance on the Exchange-non exclusive (Dual)

listing” commenced March 10, 2022,” was signed by the Chief Executive Officer, NGX regulation Limited, Tinuade Awe. According to her, “Further to the Additions to the Rules of the SEC on fixed income primary issuance fees which stipulated a new pricing structure effective November, 22,2017, notice is hereby given that, NGX has received the approval of the Commission to introduce fees

P R I C E S MAIN BOARD

F O R DEALS

for non-exclusive fixed income listings on The Exchange, which have become effective.” She added that in light of the foregoing, as from the March 10, 2022, the relevant fees for fixed income primary issuance on the Exchange are: “ 0.0375 per cent of offer size fees on corporate bonds of issuers without listed equity and 0per cent of offer size fees on exclusive listing on corporate bonds of issuers with

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

QUANTITY TRADED

existing listed equity listed on the Exchange.” Other fees unchanged by SEC is 0.05 per cent of offer size on states and Supra-nationals. Capital market stakeholders had expressed mixed feelings following the proposed plan by SEC to introduce charge on fixed income (Bonds) secondary market transactions. The Managing Director/CEO of Trust Yields Securities Limited

T R A D E D

VALUE TRADED ( N )

MAIN BOARD

A S

noted that the new fee would hike in the cost of transactions in the fixed income instruments. In his words: “Both the buyer and seller of fixed income instrument will have to pay the additional cost. Will it make prospective investors mull on the additional cost and conclude that the yield on longer attractive? These are the things we will be looking out for next year.” Also, the Chairman, Association of Securities Dealing

O F

1 1

Houses of Nigeria (ASHON), Mr Sam Onukwue said: “I do not think it’s out of place for SEC to do so.The Commission has been charging on equities all along. The proposed charges on fixed income securities should not discourage investors from the asset class.Investors have their preferences and would always weigh their risk tolerance and other fundamentals in making investment decisions.”

/ 0 3 / 2 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

T H I S D AY • MONDAY, MARCH 14, 2022

Monday, March 14, 2022 ŽŵĞƐƟĐ ƋƵŝƟĞƐ DĂƌŬĞƚ͗ ƵǇŝŶŐ /ŶƚĞƌĞƐƚ ƵŽǇƐ DĂƌŬĞƚ WĞƌĨŽƌŵĂŶĐĞ͙ ^/ ƵƉ Ϭ͘ϰй ǁͬǁ

THISDAY AFRINVEST 40 INDEX

>ĂƐƚ ǁĞĞŬ͕ ďƵůůŝƐŚ ƐĞŶƟŵĞŶƚ ďƵŽǇĞĚ ƚŚĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽĨ ƚŚĞ ĚŽŵĞƐƟĐ ďŽƵƌƐĞ ĂƐ ŝŶǀĞƐƚŽƌƐ

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ƌĞƐƉŽŶĚĞĚ ƚŽ ƐĞǀĞƌĂů ĨĂĐƚŽƌƐ ŝŶĐůƵĚŝŶŐ ƉŽƐŝƟǀĞ ĞĂƌŶŝŶŐƐ ĨŽƌĞĐĂƐƚƐ ĂŶĚ ĚŝǀŝĚĞŶĚ ĚĞĐůĂƌĂƟŽŶƐ͘ ŽŶƐĞƋƵĞŶƚůǇ͕ ƚŚĞ E'y- ^/ ĞǆƉĂŶĚĞĚ Ϭ͘ϰй ǁͬǁ ƚŽ ƐĞƩůĞ Ăƚ ϰϳ͕ϰϯϳ͘ϰϴ ƉŽŝŶƚƐ͕ zd ƌĞƚƵƌŶ ƌŽƐĞ ƚŽ ϭϭ͘ϭй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ŝŶĐƌĞĂƐĞĚ ďǇ േϵϭ͘ϬďŶ ƚŽ േϮϱ͘ϲƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚǇ ŝŵƉƌŽǀĞĚ ĂƐ ƚŚĞ ĂǀĞƌĂŐĞ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ƌŽƐĞ ϭϬϱ͘ϰй ĂŶĚ Ϭ͘ϲй ǁͬ

THISDAY AFRINVEST 40 1 Airtel Africa PLC 2 MTN Nigeria Communications PLC

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

ǁ ƌĞƐƉĞĐƟǀĞůǇ ƚŽ ϱϱϵ͘ϲŵ ƵŶŝƚƐ ĂŶĚ േϰ͘ϴďŶ͘ dŚĞ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďǇ ǀŽůƵŵĞ ǁĞƌĞ hE/dz E< ;ϱϮϴ͘ϱŵ

11 United Bank for Africa PLC 12 Stanbic IBTC Holdings PLC

units), & E, ;ϭϮϵ͘ϵŵ ƵŶŝƚƐͿ ĂŶĚ 'd K ;ϭϭϮ͘ϰŵ

13 Nigerian Brew eries PLC 14 SEPLAT Energy PLC

units) while 'd K (േϮ͘ϵďŶͿ͕ DdEE (േϮ͘ϳďŶͿ ĂŶĚ

15 Ecobank Transnational Inc 16 International Brew eries PLC

E ^d> (േϭ͘ϲďŶͿ ůĞĚ ďǇ ǀĂůƵĞ͘

17 Okomu Oil Palm PLC 18 Flour Mills of Nigeria PLC

ŝŶĚŝĐĞƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ ƚƌĞŶĚĞĚ ƐŽƵƚŚǁĂƌĚ ǁͬ

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

2034.07 1,260.00

0.48% 0.0%

ROE

9.7% 103.4% 38.1%

31.9%

15.0%

ROA

P/E

3.5%

5.4x

Divindend Earnings Yield Yield

P/BV

0.8x

0.0%

8.1%

4.6%

134.7%

14.1%

14.0x

21.7x

70.75

0.0%

6.8%

5.5%

19.1%

11.2%

34.0x

6.4x

27.00

3.8%

6.4%

3.8%

4.4x

6.0%

7.4%

20.4%

2.7%

3.5x

0.7x

11.6%

6.4%

39.2%

16.3%

12.9x

4.8x

7.3%

7.8%

1,435.00

0.0%

3.1%

-7.8%

106.8%

15.6%

27.8x

32.8x

3.5%

3.6%

11.55

0.4%

3.2%

1.3%

8.4%

0.8%

6.8x

0.6x

3.9%

14.7%

23.50

0.0%

3.0%

-1.9%

11.6%

8.4%

8.8x

1.0x

8.5%

11.4%

10.15

0.0%

2.8%

9.1%

17.0%

1.4%

2.8x

0.5x

8.4%

35.1%

8.55

0.6%

2.2%

6.2%

15.8%

1.4%

2.5x

0.4x

11.8%

39.6% 12.9%

34.50

0.0%

1.5%

-4.2%

15.1%

2.1%

7.8x

1.2x

11.8%

46.00

-0.5%

1.4%

-8.0%

7.6%

2.7%

28.9x

2.1x

3.5%

990.00

0.0%

2.3%

52.3%

8.7%

4.1%

9.0x

0.8x

4.2%

11.1%

-10.3%

-3.9%

11.00

0.0%

1.6%

26.4%

5.20

2.0%

1.1%

5.1%

140.00

0.0%

1.0%

-1.4%

36.5%

23.3%

9.5x

3.2x

31.50

2.8%

1.0%

11.1%

15.9%

4.5%

4.8x

0.7x

5.2%

20.7% 46.2%

19 Fidelity Bank PLC 20 AXA Mansard Insurance PLC 21 Dangote Sugar Refinery PLC 22 FCMB Group Plc 23 United Capital PLC 24 Guinness Nigeria PLC

2.5x

39.5% 1.0x

-2.4%

0.7%

11.8%

13.3%

1.3%

2.2x

0.3x

7.7%

0.0%

0.5%

1.3%

9.3%

3.0%

7.2x

0.7x

9.4%

13.8%

16.00

0.0%

0.4%

-8.0%

17.4%

6.9%

8.8x

1.5x

6.3%

11.3%

10.3%

1.1%

3.50

1.4%

0.5%

17.1%

12.55

2.9%

0.4%

26.8%

65.00

0.0%

0.6%

66.7%

13.3%

6.0%

13.7x

1.7x

0.7%

7.3%

1.10

0.9%

0.4%

14.6%

11.1%

2.3%

5.8x

0.6x

0.9%

17.1%

35.6%

18.5%

6.4x

1.1x

4.6%

15.7%

2.7x

0.8% 3.0%

0.3x

4.3%

2.8x

12.0%

0.3%

-9.1%

0.4%

42.4%

13.50

0.0%

0.3%

2.3%

21.3%

6.9%

12.7x

2.5x

ĂŶĚ ^ W> d ;-ϰ͘ϯйͿ͘ dƌĂŝůŝŶŐ͕ ƚŚĞ ŽŶƐƵŵĞƌ ĂŶĚ

29 AIICO Insurance PLC 30 TotalEnergies Marketing Nigeri

0.70

0.0%

0.2%

0.0%

7.2%

1.1%

388.9x

0.7x

ŝŶ h ;нϯ͘ϲйͿ͕ & D ;нϮ͘ϲйͿ ĂŶĚ DdEE ;нϭ͘ϮйͿ͘

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ǁĂƐ ŇĂƚ ĂƐ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ĐůŽƐĞĚ Ăƚ Ϭ͘Ϭǆ ĨƌŽŵ -Ϭ͘ϯǆ ƚŚĞ ƉƌĞǀŝŽƵƐ ǁĞĞŬ͕ ĂƐ ϯϰ

0.0%

0.3%

19.4%

48.0%

9.5%

5.4x

2.2x

1.6%

18.6%

7.20

0.0%

0.2%

-8.9%

19.5%

5.5%

4.2x

0.8x

7.6%

23.6%

21.90

0.0%

0.2%

-2.7%

38.7%

16.0%

5.6x

2.0x

6.8%

17.8%

13.20

-5.7%

0.1%

-9.0%

7.8%

4.9%

29.3x

1.2x

26.45

0.0%

0.2%

18.3%

18.9%

2.4%

4.0x

0.8x

1.5%

25.0%

4.0%

33 Unilever Nigeria PLC 34 Julius Berger Nigeria PLC 35 Union Bank of Nigeria PLC 36 Oando PLC 37 Wema Bank PLC 38 Sterling Bank PLC 39 Notore Chemical Industries Ltd 40 Transcorp Hotels Plc

6.20

-0.8%

0.1%

5.1%

7.1%

0.8%

7.0x

0.7x

5.07

-4.3%

0.0%

14.7%

14.5%

2.6%

2.2x

0.3x

3.4%

0.92

0.0%

0.1%

27.8%

14.1%

0.8%

4.0x

0.5x

4.3%

1.53

-1.3%

0.1%

1.3%

9.4%

0.9%

2.0x

0.3x

3.3%

62.50

0.0%

0.1%

0.0%

-28.3%

-6.1%

5.38

0.0%

T o p 10 G a i n e r s

2.4x 0.9x

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

P ric e

P ric e C hg %

T ic k er

Vo lum e

P ric e C hg %

N IGER IN S

0.22

10.0%

FCM B

932.9

1.4%

R T B R ISC OE

0.73

9.0%

Z EN IT H B A N K

29.9

1.1%

UP D C

0.99

7.6%

A C C ESS

22.5

0.0%

UA C N

10.65

6.0%

F ID ELIT YB K

19.3

-2.4%

C OR N ER ST

0.74

5.7%

UC A P

16.9

2.9%

C ON OIL

25.10

5.2%

UA C N

14.3

6.0% 0.6%

CHA M S

0.22

4.8%

UB A

14.1

27.00

3.8%

FB NH

12.2

0.4%

0.60

3.4%

SOVR EN IN S

6.4

0.0%

ƉĞƌĨŽƌŵŝŶŐ ƐƚŽĐŬƐ ĨŽƌ ƚŚĞ ǁĞĞŬ ǁĞƌĞ WZ ^ K

C H IP LC

0.65

3.2%

C OR N ER ST

5.8

5.7%

T o p 10 L o s e r s

;нϭϵ͘ϲйͿ͕ Zd Z/^ K ;нϭϱ͘ϵйͿ͕ ĂŶĚ KZE Z^d

ĞǆƉĞĐƚ ƚŽ ƐĞĞ ƉƌŽĮƚ-ƚĂŬŝŶŐ ĂĐƟǀŝƟĞƐ Ăƚ ƚŚĞ ƐƚĂƌƚ ŽĨ ƚŚĞ ǁĞĞŬ͘ EŽŶĞƚŚĞůĞƐƐ͕ ǁĞ ŵĂŝŶƚĂŝŶ Ă ďƵůůŝƐŚ

ŽƵƚůŽŽŬ ĨŽƌ ƚŚĞ ŵĂƌŬĞƚ͘

50.0%

13.0%

C OUR T VILLE

ƵŶĚĞƌƉĞƌĨŽƌŵŝŶŐ ƐƚŽĐŬƐ ĨŽƌ ƚŚĞ ǁĞĞŬ͘ dŚŝƐ ǁĞĞŬ͕ ǁĞ

25.0%

-13.8%

ƐƚŽĐŬƐ ŐĂŝŶĞĚ͕ ϯϯ ůŽƐƚ ǁŚŝůĞ ϴϱ ĐůŽƐĞĚ ŇĂƚ͘ dŚĞ ƚŽƉ

ϭϴ͘ϯйͿ͕ ĂŶĚ hW> (-ϭϰ͘ϰйͿ ǁĞƌĞ ƚŚĞ ƚŽƉ

14.3% 45.8%

GT C O

;нϭϱ͘ϲйͿ ǁŚŝůĞ >> ,> < (-ϭϴ͘ϱйͿ͕ D z < Z (-

7.9% 0.3%

264.90

31 Custodian and Allied Insurance 32 Vitafoam Nigeria PLC

T ic k er

10.5%

2.85

0.0%

ǁͬǁ ƌĞƐƉĞĐƟǀĞůǇ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ

-11.0%

2.35

1.0%

the ĂŶŬŝŶŐ ĂŶĚ AFR-/ d ŝŶĚŝĐĞƐ ƌŽƐĞ ϭ͘ϯй ĂŶĚ Ϭ͘ϲй

28.8%

2.9%

4.4%

4.09

KZE Z^d ;нϭϱ͘ϲйͿ ĂŶĚ t W/ ;нϴ͘ϳйͿ͘ ^ŝŵŝůĂƌůǇ͕

22.7%

1.1%

125.00

ŵŽƐƚ͕ ƵƉ Ϯ͘ϳй ǁͬǁ ŽŶ ĂĐĐŽƵŶƚ ŽĨ ďƵǇŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ

11.5%

0.0%

27 Presco PLC 28 NASCON Allied Industries PLC

ƚŚĞ ŇŝƉ ƐŝĚĞ͕ ƚŚĞ /ŶƐƵƌĂŶĐĞ ŝŶĚĞǆ ĂĚǀĂŶĐĞĚ ƚŚĞ

7.1%

27.00

Ϯ͘Ϯй ǁͬǁ ĚƵĞ ƚŽ ƐĞůů ƉƌĞƐƐƵƌĞ ŽŶ KEK/> ;-ϱ͘ϯйͿ

E ;-ϰ͘ϮйͿ͕ t W K ;-Ϯ͘ϭйͿ ĂŶĚ hd/y ;-Ϭ͘ϵйͿ͘ KŶ

5.1%

273.50

ǁ͘ dŚĞ Kŝů Θ 'ĂƐ ŝŶĚĞǆ ĚĞĐůŝŶĞĚ ƚŚĞ ŵŽƐƚ͕ ĚŽǁŶ

ƌĞƐƉĞĐƟǀĞůǇ ĨŽůůŽǁŝŶŐ ůŽƐƐĞƐ ŝŶ hE/> s Z ;-ϳ͘ϬйͿ͕

16.9%

1.5%

25 Transnational Corp of Nigeria 26 NEM Insurance PLC

/ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚŝĐĞƐ ĨĞůů Ϭ͘ϱй ĂŶĚ Ϭ͘ϭй ǁͬǁ

5.9%

31.9%

206.00

3 BUA Cement Plc 4 Guaranty Trust Holding Co PLC

8 FBN Holdings Plc 9 Lafarge Africa PLC 10 Access Bank PLC

WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁĂƐ ŵŝǆĞĚ ĂƐ ϯ ŽĨ ƚŚĞ ϲ

Current Price

Ticker

T ic k er

P ric e

T o p 10 T r a d e s b y V a l u e P ric e C hg %

T ic k er

Value

P ric e C hg %

R OYA LEX

1.21

-9.7%

FCM B

3491.4

1.4%

ELLA H LA KES

3.12

-9.6%

Z EN IT H B A N K

805.6

1.1%

P H A R M D EKO

1.84

-8.0%

M TNN

658.1

0.0%

LIN KA SSUR E

0.52

-7.1%

SEP LA T

381.4

0.0%

UN ILEVER

13.20

-5.7%

A C C ESS

227.8

0.0%

GUIN EA IN S

0.20

-4.8%

222.3

-0.5%

OA N D O

5.07

-4.3%

UC A P

208.5

2.9%

C UT IX

2.28

-4.2%

UA C N

152.7

6.0%

F ID SON

8.00

-4.2%

GT C O

147.7

3.8%

M B EN EF IT

0.26

-3.7%

FB NH

140.4

0.4%

MONDAY, MARCH 14, 2022 • T H I S D AY

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

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 10Mar-2022, unless otherwise stated.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A Afrinvest Dollar Fund N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund N/A N/A N/A AIICO Balanced Fund N/A N/A N/A ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 7.49% Anchoria Equity Fund 143.91 145.65 3.04% Anchoria Fixed Income Fund 1.23 1.23 7.07% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com info@anchoriaam.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 21.58 22.23 6.39% ARM Discovery Balanced Fund 482.32 496.86 6.91% ARM Ethical Fund 39.58 40.77 1.60% ARM Eurobond Fund ($) 1.06 1.06 -1.99% ARM Fixed Income Fund 1.03 1.03 1.42% ARM Money Market Fund 1.00 1.00 7.33% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 108.92 108.92 7.09% AVA GAM Fixed Income Dollar Naira 1,083.99 1,083.99 8.40% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund N/A N/A N/A Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.02 1.02 1.68% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 7.72% Paramount Equity Fund 18.66 18.99 10.87% Women's Investment Fund 145.70 147.29 4.75% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund N/A N/A N/A Cordros Milestone Fund N/A N/A N/A N/A N/A N/A Cordros Dollar Fund ($) N/A N/A N/A CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 8.57% Emerging Africa Bond Fund 1.02 1.02 5.57% Emerging Africa Balanced Diversity Fund 1.03 1.03 13.61% Emerging Africa Eurobond Fund 101.52 101.52 3.46% FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,424.27 1,424.27 10.79% FBN Balanced Fund 185.47 186.89 5.83% FBN Halal Fund 117.54 117.54 8.70% FBN Money Market Fund 100.00 100.00 8.21% FBN Nigeria Eurobond (USD) Fund - Retail FBN Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund FSDH ASSET MANAGEMENT LTD Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Coral Balanced Fund Coral Income Fund Coral Money Market Fund FSDH Dollar Fund

122.99 157.20

122.99 3.98% 159.36 4.13% fcmbamhelpdesk@fcmb.com

Bid Price 1.00 3.98 1.80 1.22

Offer Price Yield / T-Rtn 1.00 7.26% 3.98 -0.69% 1.84 3.57% 1.22 0.80% coralfunds@fsdhgroup.com

Bid Price 4,001.19 3,509.06 100.00

Offer Price 4,062.42 3,509.06 100.00

1.09

Yield / T-Rtn 2.80% 1.17% 5.87%

3.41%

INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 5.39% Vantage Balanced Fund 2.86 2.92 0.07% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 142.93 142.99 -8.15% Vantage Equity Income Fund (VEIF) - June Year End 1.28 1.32 1.61% Vantage Dollar Fund (VDF) - June Year End 1.08 1.08 4.09% 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 1.57 1.60 4.41% Lotus Halal Fixed Income Fund 1,161.96 1,161.96 2.19% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 12.67 12.76 7.45% Meristem Money Market Fund 10.00 10.00 8.70% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 103.80 103.80 10.84% Norrenberger Money Market Fund (NMMF) 100.00 100.00 8.86% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund N/A N/A N/A PACAM Fixed Income Fund N/A N/A N/A PACAM Money Market Fund N/A N/A N/A PACAM Equity Fund N/A N/A N/A PACAM EuroBond Fund N/A N/A N/A SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 132.54 134.77 8.50% 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 1.08 1.08 10.03% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,552.78 3,592.15 3.19% Stanbic IBTC Bond Fund 236.94 236.94 0.51% Stanbic IBTC Ethical Fund 1.36 1.39 5.77% Stanbic IBTC Guaranteed Investment Fund 316.58 316.58 1.03% Stanbic IBTC Iman Fund 249.98 253.65 3.25% Stanbic IBTC Money Market Fund 100.00 100.00 5.54% Stanbic IBTC Nigerian Equity Fund 11,385.86 11,547.56 2.50% Stanbic IBTC Dollar Fund (USD) 1.30 1.30 0.84% Stanbic IBTC Shariah Fixed Income Fund 117.69 117.69 0.62% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 108.01 108.01 UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 0.98 1.00 5.36% United Capital Balanced Fund 1.43 1.46 5.15% United Capital Wealth for Women Fund 1.16 1.18 6.49% United Capital Sukuk Fund 1.09 1.09 1.42% United Capital Fixed Income Fund 1.98 1.98 1.41% United Capital Eurobond Fund 123.56 123.56 1.00% United Capital Money Market Fund 1.00 1.00 6.88% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.47 13.60 2.18% Zenith ESG Impact Fund 15.48 15.66 5.99% Zenith Income Fund 22.33 22.33 1.52% Zenith Money Market Fund 1.00 1.00 5.94%

REITS NAV Per Share

Yield / T-Rtn

124.98 54.65

10.62% 8.10%

Bid Price

Offer Price

Yield / T-Rtn

14.13 135.36 107.04 20.29 22.34

14.23 138.75 109.41 20.39 22.44

1.15% 2.85% 3.31% 0.00% 0.00%

Fund Name SFS REIT Union Homes REIT

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

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.38 5.68 18.62 1.00 21.04 169.68

4.48 5.78 18.82 1.00 21.24 171.68

16.26% 11.53% 8.32% 0.00% 8.47% 7.50%

NAV Per Share

Yield / T-Rtn

107.28

10.80%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

MONDAY, MARCH 14, 2022 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

US, China Oﬃcials to Meet as Tensions Mount over Russia President Joe Biden is sending his national security adviser for talks with a senior Chinese official in Rome on Monday as concerns grow that China is amplifying Russian disinformation in the Ukraine war and may help Russia evade punishment from economic sanctions. The talks between National Security Adviser Jake Sullivan and senior Chinese foreign policy adviser Yang Jiechi will centre on “efforts to manage the competition between our two countries and discuss the impact of Russia’s war against Ukraine on regional and global security,” said Emily Horne, speaking for the White House National Security Council. The White House has accused Beijing of spreading false Russian claims that Ukraine was running chemical and biological weapons labs with US support. US officials said China was attempting to provide cover for a potential biological or chemical weapons attack on Ukrainians by the Russian military. Sullivan said on NBC’s “Meet the Press” on Sunday that when Russia starts accusing other countries of preparing to launch biological or chemical attacks, “it’s a good tell that they may be on the cusp of doing it themselves.” US: War Widening to Western Ukraine Anticipated US officials say Russia’s lethal shelling in the western part of Ukraine on Sunday, close to the border with Poland, is something that they had anticipated. “This does not come as a surprise to the American intelligence and national security community,” said US National Security Adviser Jake Sullivan during a Sunday morning appearance on CNN. “What it shows is that Vladimir Putin is frustrated by the fact that his forces are not making the kind of progress that he thought that they would make.” At least 35 people died, and 134 were wounded early Sunday when Russia fired cruise missiles at the International Centre for Peacekeeping and Security, a military base in western Ukraine. Not far from Lviv, the facility is where NATO units train with Ukrainian troops. NATO troops in Poland are a scant 25 kilometres away, prompting concern that even a misstep by Russia’s military could cause the war to widen further. “If Russia attacks, fires upon, takes a shot at NATO territory, the NATO alliance would respond to that,” warned Sullivan in an interview on the CBS network’s “Face the Nation” programme. Sullivan and officials from the National Security Council and State Department are scheduled to be in Rome on Monday to meet Chinese Communist Party Politburo Member and Director of the Office of the Foreign Affairs Commission Yang Jiechi. Hundreds Detained in Anti-War Protests in Russia Demonstrations are taking place in many locations across Russia on Sunday to protest Vladimir Putin’s unprovoked invasion of Ukraine, with more than 700 detained by police so far. OVD-Info, which monitors arrests during protests, said that, by 6:30 p.m. Moscow time, police had detained 745 people during demonstrations in 37 Russian cities. At least 353 of them had been arrested in Moscow. An AFP journalist present at a protest in Moscow witnessed at least a dozen arrests and said police were taking away anybody without press papers. AFP reported that a young woman was shouting “peace to the world” as she was taken away by two policemen. In Russia’s second city, Saint Petersburg, AFP saw multiple arrests, including a protester being dragged across the ground. The city’s central Nevsky Avenue was closed off by police, with a dozen police vans parked along the road. Last weekend, police arrested more than 5,000 protesters across Russia. Protesters risk fines and possible prison sentences by taking to the streets. Since Russia launched its invasion on

a neighbouring province destined for the mining town of Tenke, close to Kolwezi. It derailed at 11:50 p.m. (2150 GMT) on Thursday at the village of Buyofwe, about 200 kilometres from Kolwezi, “at a place where there are ravines,” into which seven of the 15 wagons fell, he said.

February 24, more than 14,200 people have been arrested in Russia for taking part in anti-war protests. Anti-war Protests Across Europe, Small Rallies in Russia Tens of thousands of people rallied Sunday in cities across Europe to protest against Russia’s ongoing war in Ukraine, with small vigils taking place in Russia as well despite a crackdown by authorities against such demonstrations. German trade unions called a protest in Berlin, where sunny weather boosted the turnout. The march led from the city’s Alexanderplatz — a large square named after Russian Czar Alexander I — to a site near the Brandenburg Gate. Many participants carried flags in the blue and yellow colours of Ukraine, while others bore banners reading “Stop the War” and “Peace and Solidarity for the people in Ukraine.” Norbert Herring, who held up a sign that read “What are you doing to your neighbour?” as the crowds filed past the Russian Embassy, said the images from Ukraine reminded him of the bombing of cities during World War II. Several participants at the Berlin protest said they were Russians ashamed about their country. “We’re against this war, so we wanted to show our solidarity,” said Aleksandra Belozerova, a Russian studying in Germany. “It’s the least we can do in this situation.” Chinese Premier to Step Down ahead of Leadership Change Chinese Premier Li Keqiang announced Friday that he would step down within a year. The message came at a press conference in which he compared the increasingly difficult task of managing the economy to climbing a high mountain with “less oxygen.” “This is the last year I will be premier,” Li, 66, said. His announcement came as no surprise because Chinese premiers and Cabinet members cannot serve more than two terms, and Li’s second term expires next year. While not unexpected, the announcement will be of interest to foreign governments and multinational companies, closely observing leadership and political changes in the world’s second-biggest economy for clues to its future direction. China’s elite groups, including party officials, military brass, and businesspeople, have changed drastically. This is partly due to President Xi Jinping’s signature anti-corruption campaign, which has gained steam since he took office in 2012 and has resulted in prison sentences for thousands of officials.

Though the latest leadership change is along predicted lines, Friday’s announcement is significant because China is now struggling with the political and economic fallout of the Ukraine war. The ruling Chinese Communist Party, or CCP, appears keen to go ahead with its succession plans without allowing the Ukraine war and other new developments to interrupt it. Russia Mounts Missile Strike Near Polish Border According to Ukrainian officials, one of Ukraine’s biggest military training bases, located 25 kilometres from the Polish border in the west of the country, was struck by Russian missiles in an attack that left 35 people dead and 134 others injured. The base at Yavoriv is only 60 kilometres from Lviv, a major hub for Ukrainian evacuees heading into Poland. NATO military instructors have also used it, but Ukrainian officials say they are still trying to establish whether any were on-site for the attack and were injured. The strike on the International Centre for Peacekeeping and Security is the westernmost attack by Russia so far and increases fears that Lviv may soon be embroiled in the conflict. More than a week ago, VOA reported that US intelligence agencies feared Belarus, Russia’s ally and a staging ground for the Russian invasion of its neighbour, might throw its troops into the war and launch attacks on Ukraine’s northwest and centre, endangering Lviv. So far, Belarus has not entered the conflict directly, and the attack on the training centre was a Russian strike. But American and European officials remain worried about Belarus. At Least 60 Dead in DR Congo Train Crash A train crash in the southeastern Democratic Republic of Congo has killed at least 60 people, the state rail company and local sources said on Saturday. “(Currently) the toll is 61 dead, men, women and children (and) 52 injured who have been evacuated,” Marc Manyonga Ndambo, director of the infrastructure at the SNCC train operator, told AFP. Local media quoted the provincial governor Fifi Masuka saying 60 people had been killed. The train was a freight service that had been carrying “several hundred stowaways,” said Manyonga said even though this was prohibited. “Some of the bodies were still trapped in the wagons that had fallen into the ravines,” he added. Manyonga said the train was made up of 15 wagons, 12 of which were empty, and was coming from Luen in

Three African Women to Receive Courage Awards Roegchanda Pascoe braved death threats while trying to ease the gang violence plaguing the Cape Flats community just outside Cape Town, South Africa. Facia Boyenoh Harris faced harassment while advocating for women’s rights and protections against sexual violence in Liberia. Najla Mangoush, a year ago, accepted the role of foreign minister in the UN-backed transitional government of Libya, a country deeply divided by a decade of civil war. These three Africans are among a dozen women being honoured by the US State Department with its 2022 International Women of Courage Awards for demonstrating “exceptional courage, strength and leadership in advocating for peace, justice, human rights, gender equity and equality … often at great personal risk and sacrifice,” according to a press statement. They will be recognised Monday at a ceremony that will bring them together virtually instead of in-person in Washington because of the pandemic. Secretary of State Antony Blinken will preside, with remarks by first lady Jill Biden. Zimbabwe Police Block Main Opposition Rallies Zimbabwe police Saturday blocked the country’s main opposition party from holding rallies ahead of March 26 elections to fill seats that have fallen vacant since the general election in 2018. The police say the rally ban in Mavhunga, about 80 kilometres east of Harare, is meant to ensure peace and stability. Police camped overnight Friday at a venue in Marondera, where the leader of Zimbabwe’s main opposition, the Citizens’ Coalition for Change, Nelson Chamisa, was supposed to address his supporters Saturday. The 44-year-old candidate later came to disperse the crowd waiting for him. “We are a party of peace, a party of the rule of law,” he said. China Records Nearly 3,400 Daily Virus Cases In Worst Outbreak In 2 Years Chinese health authorities reported nearly 3,400 COVID-19 cases on Sunday, double the previous day, forcing lockdowns on virus hotspots as the country contends with its gravest outbreak in two years. A nationwide surge in cases has seen authorities close schools in Shanghai and lockdown several northeastern cities, as almost 19 provinces battle clusters of the omicron and delta variants. The city of Jilin has been partially locked down, with hundreds of neighbourhoods sealed up, an official announced Sunday, while Yanji, an urban area of nearly 700,000 bordering North Korea, was fully closed off. China, where the virus was first detected in late 2019, has maintained a strict ‘zero-COVID’ policy enforced by swift lockdowns, travel restrictions and mass testing when clusters have emerged. But the latest flare-up, driven by the highly transmissible omicron variant and a spike in asymptomatic cases, is challenging that approach. Zhang Yan, an official with the Jilin provincial health commission, admitted Sunday that local authorities’ virus response so far had been lacking.

T H I S D AY ˾ DAY ͯͲ˜ 2022

IMAGES

Photo Editor Abiodun Ajala Email abiodun.ajala@thisdaylive.com

L-R: Director, Airworthiness Standard, Nigerian Civil Aviation Authority (NCAA), Kayode Ajibola; FASAP Coordinator of NCAA, Capt. Godwin Akosim; and Founder/Chief Executive Oﬃcer, Green Africa, Mr. Babawande Afolabi, during the media launch of Future Initiative by Green Africa in Lagos...recently PHOTO: KOLAWOLE ALLI

Founder/Publisher, Ikeanumba Africa Magazine, Mr. Ayobanna Ikeanumba (left), presenting the Lagos Female Entrepreneur of the Year award to Dr. Babington Ashaye at the launching of Ikeanumba Africa Magazine in Lagos...recently PHOTO: DARE IBIRONKE

L-R: Member, Board of Directors, Louis and Lois Academy, Captain Willy Afahame; Chairperson, Mrs. Lora Igoma, and Proprietor, Louis and Lois Academy, Mrs. Catherine Asekhauno, during the Academy bi-annual inter-house sports competition held in Ejigbo, Lagos...recently

L-R: Rasaq Bello, Yomi Adeleke, Mojeed Olomola, Musibau Salami and Ademola Oladosu all friends of Moshood Abiola Abioye at the burial ceremony of Abioye’s late mother, Alhaja Fatimoh Abioye, held in Osogbo, Osun State...recently

L-R: Lead, Corporate Services, Leadway Holdings, Aishat Bello-Garuba; Executive Secretary/Chief Executive Oﬃcer, Lagos State Security Trust Fund (LSSTF), Dr. Abdurrazaq Balogun; and Group Chief Marketing Oﬃcer, Leadway Holdings, Olusakin Labeodan, during the courtesy visit to LSSTF in Lagos...recently

L-R: Country Manager, Paramount, Bada Akintunde-Johnson; MTV Base Culture Squad Member, Ilooise Omohinmin; Chief Executive Oﬃcer, Creelo Animation Studios, Nissi Ogulu; Chief Executive Oﬃcer, Chocolate City, Abuchi Peter Ugwu; and Label Manager, Sony Music Africa, Daniel Owolabi, at the Paramount and MTV Base panel discussion at Africa NXT2022...recently

T H I S D AY • MONDAY, MARCH 14, 2022

NEWSXTRA

ABIODUN INSPECTS 19KM ATAN-LUSADA-AGBARA EXPRESSWAY... L-R: Ogun State Governor, Prince Dapo Abiodun; Managing Director, Hi-Tech Construction Company, Engr. Dany Abboud; State Commissioner for Works and Infrastructure, Engr. Ade Akinsanya, and Hi-Tech Construction Company's Project Manager, Engr. Ashton Davies, during the inspection of the 19km Atan-Lusada-Agbara expressway… yesterday

Obasanjo: I Did Not Run After Power, Power Chased After Me

James Sowole in Abeokuta

Former President, Chief Olusegun Obasanjo at the weekend said he did not run after power, but that it was power that ran after him. Obasanjo spoke in Abeokuta, while responding to some issues raised during a symposium, organised by the national leadership of the Keggites Club of Nigeria through the Unity in Diversity Forum. The lecture, which was held at the auditorium of the Olusegun Obasanjo Presidential Library, Complex, was part of activities to celebrate the 85th Birthday of the former president, who is the Eternal Grand Patron of the Kegite Club. At the symposium, two journalists, Dr. Yemi Faroumbi and Dr. Festus Adedayo as well as Prof. Chief Kolawole Kazeem, spoke on the theme: "Depreciating Cultural Values and Virtue in the Era of Social Media: Causes, Challenges and Solutions." The statement of the former president, was triggered by a former Nigerian Ambassador to the Philippines, Farounbi, who eulogised Obasanjo's as someone, who at no time ran after power. Farounbi in the lecture, pointedly said Obasanjo rejected the call for him to become the Head of State in 1976, after the coup that claimed the lives of the General Murtala Muhammed and some other military officers. Farounbi added: " He became the Military Head of State, very much against his wish I have the narrations of the events of the February 13, 1976 by highly

respected General T.Y Danjuma and others to buttress this. "I also know that he did everything possible to reject becoming the candidate of PDP and ultimately the president in 1999 elections. "I can say authoritatively because I was involved. He had no interest in pursuing power, but power was interested in pursuing him because of the much needed cultural values inherent in him. "He was like David in the Bible. He did not want to be a king, but he had the values of a king. He has demonstrated bravery by killing a bear and lion with bear hands. "God needed such a person to face Goliath. During the Civil War, when the march by First Division of Nigerian Army has been stalemated, and the 2nd Division has faded away under the burden of the failure of the ill-advised and ill-fatted attempt to attack to attack Onitsha from Asaba, across the Niger River and the 3rd Marine Commando was losing streak, General Obasanjo came as the David who destroyed our Goliath and did that vet successfully. "When1999 came and the PDP wanted a candidate that will be become a President that will make it difficult for the military to come back, General Obasanjo fitted the bill because of his character traits of bravery, courage and ability to manage men and resources. “Not only that PDP was looking for someone who will lead Nigeria as a Nigerian and truly belong to all. Again General Obasanjo fitted the bill. He did

not become President because of a lifelong ambition, but because he demonstrated rich cultural core values in assignments that he was given." Responding to the lecture, Obasanjo, who was elated by the submissions of the lecturers confirmed the position of Farounbi. He said, "At one time you (Farounbi), mentioned I was reluctant to be in political power as you said. I was trained as a

soldier. One of my trainings is that soldiering and politics don't go together and I stuck to that. " But as you rightly said while I stuck to separation between soldiering and politics, power started chasing me and I ran until I could not run out of the reach of power. "I believed that without been immodest, the fact that I was not looking for power, power was looking for me make a drought of business."

Speaking on the topic of the lecture, Obasanjo said his allegiance was for Africa and Nigeria, adding that he would not be part of anything outside them. He affirmed that the sterling values and virtue in the continent and the country, made him a Pan-Africanist and Nigeria to the core. The former president tasked the club to unite and become one, saying their unity was part of

what would be needed to make him truly eternal grand patron of the club. Obasanjo who expressed joy and satisfaction for the Kegite Club by the honour, said, the honour would not be taken for granted, stressing, "if anything that should be Nigeria, is not Nigeria, I will not be part of it. Or, if anything that should be Africa is not Africa, count me out of it. I am a pan-Africanist; I am Nigeria to the core.

Abiodun Inspects Industrial Atan-LusadaAgbara Road, Says Project Ready September Ogun State governor, Dapo Abiodun, has disclosed that the ongoing construction of the 19kilometre Atan- Lusada-Agbara road in Ado-Odo/ Ota Local Government Area of the state, will be ready for commissioning in September. Abiodun gave this disclosure yesterday after inspecting the level of work done on the industrial road. He noted that the contractor handling the project has divided it into three sections: O-6, 6-11 and 11-19 for ease of execution of the road. The governor, who expressed delight with the quality of work done so far, added that the contractor has agreed to add one mare gang to the existing one to expedite the progress of job. According to him, "one lane of the road is expected to be

completed by the end of the second quarter of this year, while the whole road project would be completed by September, 2022". While stressing the importance of the road, Abiodun said the road which was in a very bad shape for a long time, would be provided with fire station and a ambulance to take care of emergencies ranging from accidents and other unfortunate incidents, when completed. "This very road is what earned us the industrial capital of this country. Before now, the condition of this road was nothing to write home about. It was in a total and complete disrepair and rendering a lot of business moribund. Companies were closing shops and going somewhere else. Some even left the country and we thought this was not good enough.

"I made a presentation to President Muhammadu Buhari to take over the road because it is a road of economic importance and we can not claim to live up to our responsibility without taking up the repair of the road. "Apart from leading to the industrial hub of the state, the road also serves as a link to Lagos, neighbouring states and some states in the north, so, it became imperative for us to put the road in good condition", he stated. Abiodun, however, said a team to be headed by his deputy would be set up to look into the Adesola Market as well as the abandoned fly over in the axis, reiterating that his administration would complete projects that have direct bearing on the lives of the people. He further stated that his

administration had awarded the construction of Ilisan-AgoIwoye and Ilaro-Owode roads, while talks were on with the Dangote Group to construct the Papalanto-Ilaro road. The governor also restated the commitment of his administration to complete the Agro Cargo Airport at Ilishan-Remo, which according to him is expected to be completed on December this year. Earlier in his remarks, the Olodan of Odan, Oba Teslim Nosiru, said the road is very important as it serves not only the companies operating in the area but the residents. He pleaded with the state government not to forget provision of modern fire station to respond to emergency situations, after the completion of the road.

Three NGX Executive Directors Earned N755m as Compensation in 2021 Kayode Tokede Three Executive Directors of the Nigerian Exchange Group Plc (NGX) earned N754.87 million as compensation in 2021. This was disclosed in the NGX’s full year results for 2021. The amount paid to the three executive directors was a 78.41 per cent increase from the N423.12 million compensation collected by the three executive directors in 2020. The above also implied that each of the executive directors took home an average of N251.6 million

as compensation in the year under review. The 2021 full year report of the NGX explained that, “Executive compensation relates to compensation paid to Chief Executive Officer and Executive Directors who are not Board members.” The Group had three executive directors in 2021 from two and 26 management staff for the second consecutive year. On the other hand, its nonmanagement staff dropped to 176 from 241 recorded in prior year. The group executive

committee members on the NGX includes its Group Managing Director/Chief Executive Officer, Mr. Oscar Onyema; Chief Executive Officer, NGX, Mr. Temi Popoola and Chief Executive Officer, NGX REGCO, Ms. Tinuade Awe. As stated in 2021 financial year report, sitting allowances of NGX directors dropped by 4.7 per cent to N56.74 million, from the N59.55 million reported in 2020. The report stated that the remuneration paid to the board members (excluding pension and reimbursable allowances)

grew by 68.2 per cent to N811.6 million in 2021, from the N482.66 million reported in 2020. Also, the Chairman of the board, Otunba Abimbola Ogunbanjo received N6.6 million as remuneration in 2021, which was an increase of 33.3 per cent from the N4.9 million received in 2020. The highest paid board member, the MD/CEO as revealed in 2021 audited financial report earned N160.02 million as remuneration from N156.2 million in 2020. In all, salaries and allowance report by the Group rose by

2.5 per cent to N3.03 billion in 2021, from N2.96 billion in 2020. The NGX Group reported N2.25 billion in profit, representing a 22 per cent increase from the N1.84 billion reported in 2020, even as its revenue grew by 14.9 per cent to N5.78 billion from N5.03 billion in 2020. Onyema was quoted to have said the NGX Group in 2021 focused on formulating and executing the strategy of the Holding company, which includes building multiple businesses across the entire capital market value chain

with diversified revenues as well as strategic and operational flexibility. The Nigerian Stock Exchange (NSE) in 2021 demutualised to allows the Exchange to sell its shares to investors and be listed for trading. This resulted in the creation of a new non-operating holding company, the Nigerian Exchange Group Plc (NGX Group) with Onyema serving as its Group Chief Executive Officer (GCEO, The listing mandated full disclosure of the Group’s accounts to the investors and general public.

T H I S D AY • MONDAY, MARCH 14, 2022

NEWSXTRA

NGF'S QUEST FOR PEACE AND INCLUSIVE SECURITY... L-R: Special Adviser to Governor of Imo State, Hon. Jimmy Imo; Senior Fellow, Centre for Democracy and Development(CDD), Okechukwu Ibean; Chairman, Nigeria Governors’ Forum (NGF), Dr. Kayode Fayemi; Deputy Governor of Plateau state, Prof. Sonni Tyoden and NGF legal Adviser, Chijioke Chuku, during the multi-stakeholders’ meeting organised by the NGF in collaboration with the CDD in Abuja... recently

Obaseki: More than 90 Percent of Structures Erected in Edo Without Building Plan The Edo State Governor, Mr. Godwin Obaseki has flayed the indiscriminate development of structures across the state by property developers without obtaining the necessary building plan permit, noting that more than 90 percent of structures erected in the state are without a building plan. Obaseki said this when he received executive members of Nigeria Institute of Builders (NIOB), Edo State Chapter, who were on a courtesy visit at the Government House, Benin City. Obaseki, represented by his Chief of Staff, Hon. Osaigbovo Iyoha, decried the rot in the sector, reassuring that the government will continue to strengthen laws to ensure sanity in the built space. According to him, “Obtaining building plans is one aspects people take for granted when erecting their structures. The association has a lot to do in the building an eco-system, as about 75 percent of structures are not built by professionals.

The decay in the system creates loopholes leading to building collapses across the country. “The failure in the system starts from town planning as town planning seems to have been neglected. This is affecting the building industry in the

He continued: “We have strengthened our Physical Planning, Urban and Regional Development Ministry to help check this abnormality, ensuring sanity returns to the system by putting back all the standards required to avert building

collapse. “It's good you are here now, and important you come on board and have your place to contribute to the success of the built sector in Edo State.” Earlier, the Chairman of NIOB, Edo State Chapter,

Ononfa Sunday, who hailed the governor’s reforms in the sector, said the visit is to inform the governor of its one-week event which was organised to commemorate this year’s Builders Day, with the theme, “Building with Integrity.”

ASUU Challenges Minister, NITDA to Public Debate on UTAS NEC to decide on strike duration Onyebuchi Ezigbo in Abuja The leadership of the Academic Staff Union of Universities (ASUU), has said it was ready to engage the Minister of Communication and Digital Economy, Prof. Isah Patami and the Director General of the Nigeria Information Technology Development Agency, in a public debate over the integrity of the University Transparency and Accountability Solution (UTAS) salary payment platform. ASUU said their demand was neccessitated by the need to put the records straight on the grounds

2023: Northern Youths Urge Buhari to Support Jonathan for President The Northern Youths Council of Nigeria has urged President Muhammadu Buhari to support former President Goodluck Jonathan's reelection as Nigeria's president in 2023. The NYCN President, Isa Abubakar, made the appeal on Saturday night while speaking on a programme aired on ARISE TV. Abubakar said the former president has all it takes to take the country to the promised land. "I think it is a great decision for former President Goodluck Jonathan. He was a purposeful leader for the six years that he ruled the nation," he said. Abubakar added, "We believe that he has the experience to move the nation to the next level and the promised land. He is still very vibrant. While some Nigerians are still agitating for a youthful president, some youths are governors but are not doing enough to ensure that the state they govern enjoys the dividend of democracy in terms

state. Today, visit a development area, you will discover that not up to 10 percent have a building plan. The Edo State Government is working on correcting this abnormality and will want you to partner with the state to achieve this move.”

of infrastructure and welfare of its workers." He explained that Buhari should consider endorsing Jonathan if he was ready to contest the 2023 election. "We are planning to mobilise ourselves to pay him a visit to consider running for the 2023 presidential election. Jonathan has the energy and charisma to rule Nigeria," noted Abubakar. "He is peaceful, and he also ensures that his ambition doesn't cost anybody's life." The NYCN president further mentioned that Nigerian youths must be involved in politics and governance to set the country on the right trajectory. "Eighty per cent of them have refused to vote or participate in politics, which has greatly led to voters' apathy," noted the NYCN leader. "Youth activists must call the youths to order. They must engage in massive sensitisation campaigns to ensure that narratives change."

already covered in the efforts to get government to deploy UTAS as a suitable payment system in our university system. In another development, the union's National Executive Committee (NEC) met last night to decide on the next line of action on its 4-week warning strike which ends today. A credible source told THISDAY

last night that a majority of ASUU chapters, had earlier voted to continue the strike since the government had not done much to meet their demands. According to the source, NEC meeting was to consider the position of the branches and come up with a decision that would be made public today. In the statement signed by ASUU

President, Prof. Emmanuel Osodeke, the union said: "The DG of NITDA and the Minister superintending over the agency are challenged to a public discussion on any of the national media to put all matters to rest for the benefits of our students, union members and the general public." ASUU said it was not true that UTAS, has failed the integrity test conducted by NITDA as claimed

by the NITDA DG and the minister, when they spoke to journalists shortly after the Federal Executive Council meeting last week. It said from the result of the integrity test given by NITDA Technical Team, UTAS scored 529 of the 687 test areas carried, noting that there were 156 queries raised by the technical team on UTAS with just two cautions.

FUEL SCARCITY TO END IN MATTER OF DAYS, SAYS FG country had over one billion litres total PMS stock, equivalent to about a month sufficiency based on the 60 million litres per day evacuation of the PMS. “Lagos and Warri/Oghara loading zones hold the highest land stock of PMS with over 200 million litres and over 100 million litres respectively. The balance of the stock is held as Marine Stock.” The source added, "the endorsed plan also maintains the high evacuation rate: which is the total amount of stock supplied until such a time that the distribution situation is normalised. By the middle of last week, a National Filling Stations Queue Map presented to the Presidency and at FEC indicated that fuel supply had returned to normal in four states of Bayelsa, Akwa Ibom, Cross River and the FCT. "In another six states there were very small queues with mostly about ten cars at a time. Those states are Oyo, Osun, Lagos, Imo, Abia and Ebonyi. It also indicated that in 13 States there were Medium Queues of maximum 50 cars. “Those states are Delta, Rivers, Anambra, Edo, Ekiti, Kogi, Nasarawa, Bauchi, Kano, Ogun, Ondo, Sokoto and Zamfara. In the rest of the 14 States, there were still High Queues of above 50 cars at a time in the Filling Stations as at middle of last week."

Meanwhile, former Senate President, Bukola Saraki, yesterday asked the president to urgently probe the current subsidy regime in the country. He insisted that the claim by the NNPC that Nigerians consume 70 million litre of fuel per day was nothing but a scam. Saraki who spoke on Channels Television, insisted that it was not possible for the country to be paying N6 trillion on subsidy annually. According to Saraki, “It is impossible for Nigerians to consume 70 million litre of premium motor spirit (PMS) per day. We are in danger now of spending up to N6 trillion annually on subsidy just because a few people are benefitting from it. "This is a matter that requires government urgent attention. Government must take responsibility and hold people accountable. We must change the way subsidy is being managed. We must ensure that the right people, the vulnerable are the beneficiaries. We should not be subsidising for our neighbouring countries. "Drive through our petrol stations, you can't see evidence of 70 million litre daily consumption. " Even in 2020 when there was lockdown, we are still claiming that we were consuming 50 million litre daily, how is that possible? We are

not being fair to the masses. We must immediately stop smuggling of this product " Saraki said the government must conduct a research to ascertain the real consumption rate. According to him, "Egypt was in the same position with Nigeria in 2016, but they've used technology and identification system to be able to solve their own problem. If we do thorough research, we would discover that half of the fuel we are subsidising in Nigeria is just a waste. We must stop all these things. "I did a personal research as a Senator and discovered that vessels laden with fuel that were supposed to be in Nigeria, were in other parts of the world. “The crude oil price is going up now, but unfortunately, we are not going to benefit from it because the subsidy bills will go up as well." However, Saraki commended the National Assembly for rejecting the planned amendments being sought by Buhari to the new Electoral Act 2022. Addressing the highly-debated issue of zoning, the former Kwara Governor said although it was a great idea, arguing that presently, what is more important should be to find the best person for the job. “When you talk about zoning, yes, you must consider zoning, but when we talk about zoning

it can’t just be an issue of north/ south because you cannot tell me that the southwest will say they are disenfranchised in the possibility of political office; neither can you say the south-south. “But the reality is that southeast, north-east and north-central have not had presidency or vice president. But what I’m saying is, today, where the country is, with the challenges before the country, we must bring in other issues. “We did it when we wanted to look for the National Chairman of our party, we went seeking for who we felt was the best that would help the party. “There are people who can provide solutions to the problems of the country if you give them the opportunity,” he added. The former Senate President however said he was capable of leading Nigeria. He said, “I believe I have what it takes to lead Nigeria. “I am not someone who shies away from taking up challenges; I am not someone who does not know the issues or someone who does not have the energy and vibrancy to address those issues. “More importantly, I am someone that can reach out across the political divide, based on my antecedents. I am someone who can reach out across the ethnicity divide and across the religious divide,” he added.

T H I S D AY • MONDAY, MARCH 14, 2022

NEWSXTRA

BEHOLD, PATRON OF LASENA WATER… L-R: Chairman of OGC Foods and Beverages, Dr. Lance Elakama; Oba of Lagos, Oba Rilwan Akiolu and Mr. Yusuf Elakama, when directors of the company paid a courtesy visit to the Oba in Lagos and made him a patron of Lasena Water...recently

PDP: Buhari, APC Are Perfect Examples of Arrogance in Failure Chuks Okocha in Abuja The Peoples Democratic Party (PDP), yesterday, described the President Muhammadu Buhari-led All Progressives Congress (APC) administration as a perfect example of arrogance in failure. The PDP said President Buhari presides over the most rudderless, corrupt, disunited, disorganised, arrogant political party and government in the history of the country, a fact it claimed was already established by Nigerians across board. The PDP, in a statement by its National Publicity Secretary, Debo Ologunagba, stated that the party's position was predicated on the comments by President Buhari, who in his attempt to address the irreconcilable infighting in APC, fixated on the PDP – apparently discomfited by the renewed massive popularity of the PDP among Nigerians ahead of the 2023 general election. The party said the Buhari administration was a certified failure, which has brought unprecedented economic hardship, chaos, escalated insecurity, a state of anomie and hopelessness in the country in the last six years. According to the PDP, "If Mr. President were ‘present’ as President and party leader, he should have known that the party is ‘enfeebled and adrift’, plagued by ‘disunity, mismanagement and corruption’; ‘arrogance of power’ and ‘selfaggrandizement’ which he alluded to, is not the PDP but the evidently mismanaged and mutating crisis ridden APC. "It is important to educate Mr. President on the arrogance of power in his refusal

to timeously appoint an economic team or listen to wise counsel on the economy and security. This is why he completely mismanaged our national affairs and turned our nation into the poverty capital of the world and the third country with the highest level of terrorism according to the World Terrorism Index. "Such arrogance of power is manifesting in President Buhari and APC’s refusal to accept failure for the near collapse of our economy from the $550 billion economy (largest in Africa and 26th globally) handed over to them in 2015 by the PDP; the fall of the naira from about N197 to a dollar to almost N600 today and the hike in petrol price from N87 per liter in 2015 to between N300 and N400 per liter today," the PDP stated. In addition to this, the party said, "the price of diesel which is a critical component in the productive sector of the economy now stands at inconceivable N700 per liter under the APC. "Is it not arrogance of power that informed the Buhari-led APC administration to import contaminated fuel, induce agonising fuel scarcity on our citizens and yet had the effrontery to tell Nigerians that ‘heaven will not fall’ over the fuel situation? "The same arrogance of power accounted for the repeated refusal by the APC administration to obey Court Orders; for President Buhari’s repeated refusal to sign the Electoral Act Amendment Bill until he was pressured by the PDP and Nigerians as well as his constant disdain toward the people in repeatedly refusing to address the

nation on critical issues, notably during the October 2020 EndSARS protest and the advent of the Covid-19 pandemic. "The arrogance and impunity of the APC administration also accounted for its refusal to prosecute APC leaders indicted for corruption; the barefaced denial that no one was killed in the EndSARS protest despite national and international evidence of bloody massacre of our youths at the Lekki Tollgate as well as the failure

to account for the billions of naira Covid-19 Funds stolen by APC leaders," the party said. PDP said this was in addition to the recent arrogant, corrupt and criminal removal of electricity subsidy without reference to Nigerians among other thoughtless and inhumane actions of the APC government. It added that, it was ludicrous that Mr. President, who confirmed that the APC as a party of irreconcilable political warlords, was bedeviled by “the infighting

we are seeing” instead of the expected “robust debate on the issues that matter’, is looking elsewhere for a lesson in ‘disunity, mismanagement and corruption”. The party said the President had so arrogantly mismanaged the APC that it was now plagued by two illegal national chairmen, multiple structures in states; enfeebled to the extent that it could not conduct a valid national convention or produce legitimate candidates for elections, with its activities

no longer recognised by the Independent National Electoral Commission (INEC). "Since President Buhari has now agreed that government should not be a vehicle for self-aggrandisement to be held at all costs,” the PDP stated, urging him to assist his party to wind up as Nigerians were now rallying on the platform of the united, cohesive, focused and dependable PDP in their mission to rescue and rebuild our nation from the arrogance and misrule of the Buhari APC-government.

Without Stating Reason, Osinbajo Meets APC State Chairs Today Adedayo Akinwale in Abuja The Vice-President, Professor Yemi Osinbajo, is scheduled to meet with all state chairmen of All Progressives Congress (APC) at the Presidential Villa, Abuja, today. Although the reason or agenda of the meeting was not stated in the notice, THISDAY gathered that the notice of the meeting, billed

to commence at 8.pm today, Monday, March 14, was sent out by the Borno State APC Chairman and Chairman of the Forum, Mr. Bukar Dalori. The notice read in part: “The Chairman of the Forum is inviting all Chairmen/ members of Forum to a meeting with the Vice President of the Federal Republic of Nigeria as follow: Date 14th March, 2022.

Meeting point before take off to Villa is Barcelona Hotel by 8pm. Venue: Presidential Villa. Time 8:30pm.” However, the agenda of the meeting could also not be confirmed by any of the members of the forum. One of the state chairmen, who pleaded anonymity confirmed receiving the invite for the meeting, while another chairman also confirmed the

meeting but said he might not attend. Acting Chairman of the party and the Governor of Niger State, Abubakar Bello, had formally inaugurated the state chairmen last Monday at the party secretariat in Abuja, long after they were elected and kept in the lurch by the Mai Mala Buni-led leadership of the caretaker committee.

APC Crisis Stalls Defection Suit against Tambuwal, Ortom, Obaseki Adedayo Akinwale in Abuja The leadership crisis rocking the All Progressives Congress (APC), has stalled plans by the party to challenge the defection of Governors of Sokoto, Benue and Edo States to the opposition Peoples Democratic Party (PDP) ahead of their second term re-elections. Aminu Tambuwal of Sokoto state, Samuel Ortom of Benue State and Godwin Obaseki of Edo State, were elected in their first term on the platform of APC, but

defected to PDP, on which platform they secured their second terms. THISDAY gathered that the decision of the ruling party to challenge their defection was sequel to the recent Federal High Court judgement that Governor Dave Umahi, should be removed for defecting to APC having been elected on the PDP platform. Against this background, the ruling party had considered instituting a similar case against the governors and some PDP leaders, who were formerly in APC.

A party source, who pleaded anonymity said a team of lawyers, had been briefed, but action was stalled due to the ongoing leadership crisis rocking the party. The source, however, added that the legal battle would commence as soon as the leadership crisis was resolved. "It is true the party is in the process of instituting a suit against some governors, who defected from our party to the opposition PDP. The action would have since commenced but for the leadership crisis. "I can reliably tell you

that we have concluded consultations with a team of lawyers, as soon as the ongoing leadership crisis is resolved, we hope to commence the action,” the source said. It was also gathered that the party had resolved to join a former President of the Senate, Bukola Saraki in the suit. The party, sources claimed, was seeking a 30-year ban on Saraki from contesting any elective post in the country for committing the same offence of detection.

MONDAY MARCH 14, 2022 ˾ T H I S D AY

NEWS

Hushpuppi: Malami Denies Exonerating Kyari, Says He only Ordered Further Probe Kingsley Nwezeh and Alex Enumah in Abuja The Attorney General of the Federation and Minister of Justice, Abubakar Malami, SAN, yesterday, denied exonerating detained commander of the Inspector General of Police’s special Intelligence Response Team (IRT), Deputy Commissioner of Police (DCP) Abba Kyari, from alleged wire fraud for which he (Kyari) was being wanted in the United States of America. A District Court of the United States had last April issued a warrant of arrest for Kyari over his alleged involvement in a $1.1million internet scam linked to Mr Ramon Abass aka Hushpuppi and others. This comes as the Police Service Commission (PSC) said it was yet to receive the report of a fresh investigation of the Nigeria Police over allegations of fraud levelled against Kyari and his indictment by the United States District Court sitting in California. Following the order

and a formal request for Kyari’s extradition by the US ambassador in the Nigeria, the federal government two weeks

ago commenced extradition proceedings against Kyari at the Federal High Court, Abuja. Although hearing in the suit is

yet to commence as Kyari and six others were last week arraigned for drug related offences. They were arraigned on an eight count charge

bordering on alleged conspiracy, obstruction and dealings in cocaine worth 17.55 grams. Although Kyari and four of

his colleagues in the IRT pleaded not guilty to the charge, the two other civilians however admitted to the crime.

SEEKING POLITICAL INCLUSIVENESS…

L-R: Commissioner for Housing and Urban Development, Imo State and Executive Member of Hope 4 Women Development Initiative, Love Ineh; Publicity Secretary, Cynthia Agbo; President of the Group and Federal Commissioner representing Enugu State on the Federal Character Commission, Ginika Tor; Secretary and Honourable Commissioner, Ministry of Women Aﬀairs and Vulnerable Groups, Imo State, Nkechinyere Ugwu, Stakeholder, Enugu State APC, Gladys Eze; Stakeholder, Enugu State APC and Executive Member, Princess Nwankwo, at the inaugural meeting of the group in Abuja…yesterday

Abaribe Declares for Group Faults Constitution Amendment, Calls It Charade Abia Governorship Segun James The former Deputy Governor and Senator representing Abia State at the Senate, Chief Enyinnaya Abariba, has declared his interest to contest the Governorship of the state under the banner of the Peoples Democratic Party (PDP). Abaribe, who disclosed this in Lagos yesterday, admitted that this would be his fifth attempt at contesting for the office, as he insisted that his integrity and consistency would ensure that he emerge as the PDP candidate in Abia. He said that he’s the change that the state needs at this critical point in the nation’s political situation, as only a radical change would move the state forward. According to him, “the government house is meant for work, serious work. If I become the governor, I will push the federal government to implement proNigerian business policy.” Abaribe, who was the initiator

of the Made-in-Aba initiative, stressed that Abia has what it take to push the nation into the 21sr century given an environment for business to thrive. Surprisingly, Abaribe sees the former governor of Anambra State, Mr. Peter Obi’s governance style as ideal for both the federal and state governments across the nation, insisting that only a business-oriented system can move the nation forward. He told the people of Abia: “ I will continue to serve diligently. You are the reason I am here. Your mandate is the source of my strength.” He admitted that he has informed Governor Okezie Ikpeazu as the leader of the party in Abia state of his intention to contest the governorship and that what he’s presenting before the people is his integrity, adding that without it, “it would be hard to do anything for the people.”

A group, Gravitas Group for Good Governance, has faulted the recent Constitution Amendment by the National Assembly, describing it as charade. The group, in a statement issued at the weekend by its Convener, High Chief Tola Adeniyi, frowned at the autonomy given to the local government administration, saying it has turned the third tier government to an appendage of the centre government and

beggar. According to the statement, “The fraudulently created 774 local government areas in Nigeria will now be reporting directly to the unitary government headquarters in Abuja. Councillors and chairmen will henceforth be ‘elected’ by agents of the dictatorship at the centre. Chairmen of LGAs will henceforth carry their beggarbowls like the state governors to collect monthly allocation from Abuja.

“Nigeria is the only federation in the world where the centre creates or controls local government areas. Local governments, councils, counties are created by state/provincial governments all over the world. The Prime Minister of the Federation of Canada has no control whatsoever over the Toronto Metropolitan Council. The Prime Minister of the United Kingdom has no control over the London City Council. They derive their independence from

the powers granted them by the state or provincial government.” The group added that Nigerians cannot be deceived anymore, adding that: “The hidden agenda behind this local government booby-trap is to have the unitary government, which is the paymaster, to dictate the tune for piper-chairmen of local governments. More dangerous than that is the long-held desire to weaken all the constituents of the so-called federation and sustain a monster at the centre.

PVCs: Oni’s Group Warns INEC against Selective Registration Victor Ogunje in Ado Ekiti

A group supporting Governor Segun Oni’s governorship candidacy in the Social Democratic Party(SDP) for the June 18 poll, has warned the Independent National Electoral Commission(INEC) against compromising the standard in the ongoing registration for Permanent Voter Cards(PVCs) in Ekiti state.

The group under the acronym “Ekiti Bring Back Better(EBBB)”, warned the INEC staff against compromising the integrity of the commission, by engaging in what it called “selective registration”. It averred that it would be counterproductive for INEC to allegedly be capturing the supporters of a particular candidate at the expense of others, saying such rumour was rife and it has to be guard

against to infuse sanity and save the commission’s image from being tainted. Addressing journalists in Ado Ekiti, yesterday EBBB spokesman , Idowu Adelusi, said it finds the rumour that only perceived supporters of a candidate were being registered by INEC in the last minute voters’ capturing so rattling and disturbing . The EBBB spokesman alerted the INEC about alleged

clandestine moves being made by some politicians of the All Progressives Congress(APC) extraction of importing prospective voters from other states for registration, urging it to be vigilant and look out for cases of double registration. Adelusi said all eligible voters in Ekiti must be registered in the last minute rush by INEC , regardless of their political beliefs and leanings.

Man Remanded for Defiling We’re Yet to Receive Notice for Katsina LG Election, Say Police questions from has not even received an He, however, noted that 15-month-old Baby Francis Sardauna in Katsina answering journalists on the preparedness official letter from either the the command would get Adibe Emenyonu in Benin City A father, identified as Mr. Yahaya Oisamaiye, has been remanded in a correctional facility in Edo State by Justice Geraldine Imadegbelo to await the advice of the Director of Public Prosecution (DPP) over an allegation of defiling of his 15 months old baby identified as Belta Oisamaiye. Justice Imadegbelo also adjourned the case March 23, 2022. In an enrolment order by the judge in charge number B/CD/470M/2022 between Commissioner of Police versus Yahaya Oisamaye which is sequel to a motion exparte filed by the police who is the complainant/applicant in the case. She said: “The suspect is to be remanded at Oko Correctional Centre for an initial period of 14 days

pending the advice of the Director of Public Prosecution (DPP). Return date is on the 23rd day of March 2022.” The court gave the remand order after listening to I. E Ekibade for the applicant and Dan Osei Okoh (SAN), Musa Bello, Uwa Okoh and C.O. Omozugbonwen for the suspect. The charge against the suspect reads: “That you Yahaya Oisamaiye ‘m’ on or about the 7th day of February 2022, between 0500hrs – 0630hrs, at Brisbourne Iyamu Street, GRA, Benin City in the Benin Judicial Division, did have unlawful carnal knowledge of one Belta Oisamaiye ‘f’ aged 15 months and thereby committed an offence contrary to Section 4 and punishable under Section 5 (1) of the Edo State Violence Against Persons (Prohibition) Law 2021.

The Katsina State Police Command has said that it has not received an official letter from the Katsina State Independent Electoral Commission (KATSIEC) notifying it of the April 11 local governments’ elections in the state. The command’s Public Relations Officer, Superintendent Gambo Isah, disclosed this while

of the command ahead of the council polls. The Chairman of the KATSIEC, Mr. Ibrahim Bako, announced during a press conference that the state local governments election would be conducted on April 11, 2022. But Isah said: “I can’t comment on that because the Katsina State Police Command

state Independent Electoral Commission or the state government informing us of the election. “But I believe there is going to be a security council’s meeting either on Monday or Tuesday and that is where the state INEC will adequately brief the security agencies on the local government election.”

reinforcement from the InspectorGeneral of Police and other security agencies for the conduct of the election, assuring that the election would be hitch-free. According to him, “we have been conducting elections here and they are always hitch-free. So, I don’t see anything that is going to be different in this local government election.”

South-east Women Group Seeks Inclusiveness in Party Politics An assemblage of outstanding and forward-looking women of the All Progressives Congress (APC) from the South-east under the aegis of Hope 4 Women Development Initiative (H4WDI) in Abuja yesterday sought to build a strong women network that promotes inclusiveness of women in politics for higher leadership positions in the region. The leader of the group and

a Federal Commissioner at the Federal Character Commission (FCC), Hon Ginika Tor, stated that the group is designed to create a consciousness and hope for women and to assure them that their tomorrow would be better and assured. She added that their mission is to be a support system for women in politics and to empower and support women with skills, knowledge and resources in order to improve

their livelihoods to enable them effectively challenge for Leadership positions in their spheres of human endeavors. The group also is designed to mentor and coach young female politicians to aspire, emerge and win elections and to support APC south East leaders, governors and their wives in advisory capacities. According to her, members of the group stand to benefits great networking with

influential personalities, unlimited support for aspiring women in politics businesses and other professions. Notable leaders of the group with advisory capacities also include the Deputy Chief Whip of the Federal House of Representatives, Hon Nkeiruka Onyejeocha, Minister of State for Environment, Hon Sharon Ikeazor, Hon Miriam Onuoha, who is also a member of the House of Representatives.

MONDAY MARCH 14, 2022 ˾ T H I S D AY

NEWS XTRA

ASUU Challenges Minister, NITDA to Public Debate on UTAS Onyebuchi Ezigbo in Abuja The leadership of the Academic Staff Union of Universities (ASUU), has said it was ready to engage the Minister of Communication and Digital Economy, Prof. Isah Patami and the Director General of the Nigeria Information Technology Development Agency, in a public debate over the integrity of the University Transparency and Accountability Solution (UTAS) salary payment platform. ASUU said their demand was neccessitated by the need to put the records straight on the grounds already covered in the efforts to get government to deploy UTAS as a suitable payment system in our university system. In another development, the union’s National Executive Committee (NEC) met last night to decide on the next line of action on its 4-week warning strike which ends today. A credible source told THISDAY last night that a majority of ASUU chapters, had earlier voted to continue

the strike since the government had not done much to meet their demands. According to the source, NEC

meeting was to consider the position of the branches and come up with a decision that would be made public today.

In the statement signed by ASUU President, Prof. Emmanuel Osodeke, the union said: “The DG of NITDA and

the Minister superintending over the agency are challenged to a public discussion on any of the national media to put

all matters to rest for the benefits of our students, union members and the general public.”

TACKLING GENDER BIASES…

L-R: Founder, AuntLanda’s Bethel Foundation, Yolanda George-David; Lead Coach, ATC Limited, Uzo Nwani; Director, Innovation and Business Development, Mediacraft Associates, Segun McMedal; Managing Director/CEO, Financial Institutions Training Centre (FITC), Chizor Malize; Principal Consultant, NECCI Limited, Nkechi Ali-Balogun, and Executive Director, Junior Achievement Nigeria, Foluso Gbadamosi, at the FITC International Women’s Day event themed: ‘Towards Gender Equality: Combating Systematic Gender Bias for a Greater Tomorrow’ held in Lagos…recently

APC Convention: Mustapha Stop Meddling in Parties’ Internal Backs Buhari’s Call on Affairs, Olawepo-Hashim Urges INEC Members for Peace A frontline aspirant for the position of National Chairman of the All Progressives Congress (APC) Mallam Saliu Mustapha, has described President Muhammadu Buhari’s admonition to party members as proof that he is keen on making the party stronger than ever. He said in a statement issued on his behalf by his media aide Dapo Okubanjo that the President’s call for peace among feuding party members ahead of the March 26 national convention is one that resonates with him. Mustapha said: “This is exactly why we have been running a decent campaign devoid of mudslinging or any attempt to throw brickbats at anyone for exercising their right to compete for the party’s top job. “For us, the race for the position of national chairman

is not a contest for titles but of ideas and as such we have always used every opportunity to reaffirm our intention to birth an idea that was muted in the past but was never realised,The Progressives Institute (TPI). “It will be a hub of cross fertilisation of ideas between older and younger party members, a think-tank of sorts to bring up ideas and ideals of progressivism and instill them in a way that will distinguish APC from others. “We have also been consistent in pushing our plan to do things differently by ensuring that women, youth and even people living with disabilities (PLWDs) get a place of pride while not neglecting older generation of politicians in our midst in such a way that many APC members know what we stand for.”

A chieftain of the ruling All Progressives Congress (APC), Mr. Gbenga Olawepo-Hashim, has cautioned the Chairman of the Independent National Electoral Commission (INEC), Professor Mahmood Yakubu, to stop his meddlesomeness in the internal affairs of political parties which was demonstrated in the “unnecessary haste to pass judgment over who is to be

the chair of the APC and what process to follow.” In a statement released by his media office in Abuja at the weekend, the former presidential candidate explained that “INEC is not a court of law and neither is Yakubu a school principal to bark out orders to political parties that he considers as his students.” Last Friday, the INEC rejected the notice for an emergency

meeting of the APC National Executive Committee (NEC). INEC’s secretary, Rose Oriaran-Anthony, confirmed the commission’s decision in a letter dated March 9, 2022, and addressed to the party’s national chairman “The commission draws your attention to the fact that the notice for the meeting was not signed by the National Chairman and

National Secretary of the CECPC contrary to the provision of the Article 1.1.3 of the commission’s Regulations and Guidelines for Political Party Operations (2018),” said Oriaran-Anthony. But, according to OlawepoHashim, “the invitation to observe a meeting of the APC is not an occasion to give lectures on how the party should run, they were merely invited to observe.

Electoral Act: CSOs Flay Buhari’s Ministers Shopping for Court Order to Delete Section 84 Emameh Gabriel in Abuja Civil Society groups in Nigeria, under the aegis of Civil Society Partners on Electoral Reform (CiSPER), have accused some of President Muhammadu Buhari’s longest-serving ministers who want to contest elective office in 2023 of shopping for a court

to help their cause in deleting Section 84(12) of the new Electoral Act recently rejected by the Senate. The Senate had last week, in an overwhelming ‘no’ vote, threw away Buhari’s request to amend the controversial section, leaving some of his senior ministers wanting to contest

in the next general elections in a tight corner. Section 84 (12) of the Electoral Act 2022 act reads: “No political appointee at any level shall be a voting delegate or be voted for at the convention or congress of any political party for the purpose of the nomination of candidates for any election.”

CiSPER in a statement issued by the Executive Director, Adopt A Goal for Development Initiative, Ariyo-Dare Atoye, and endorsed by Centre for Liberty and Students Advocates for Development Initiative (YSAD), described the move as “an unconscionable forum shopping.”

Makinde: We’ve Put Our Enugu 2023: Nwodo Faults Ekweremadu’s ‘No Zoning’ Claim the three senatorial districts in Ekweremadu, last week, praised the unity and sense of Traditional System Back on Track Deji Elumoye and Udora Orizu the state. declared that there was no zoning purpose of NELCF, said with in Abuja The Oyo State Governor, ‘Seyi Makinde, yesterday, said his administration has been able to put Ibadan’s traditional system back on track. The governor spoke at the Church Service marking the beginning of the 2022 Ibadan Cultural Festival Week’ held at the St. Peters Anglican Church, Aremo, Ibadan, said if his administration did not resolve the crisis surrounding the stool, Ibadan would have continued to experience the same challenges each time a new Olubadan was to be installed. Makinde was quoted in statement as saying: “We have come here today to give thanks to the King of kings. No matter how much we try as mortals, nothing we try to achieve will succeed without God. “Yes, it took us some time to install the new Olubadan of Ibadanland. If not for the challenges we faced, the Ibadan

traditional system is such that the process of installation would take only one or two weeks. And when we critically looked into those challenges, we discovered that if we did not resolve them just as we have done, we will continue to experience the same challenges every time we have to install Olubadan. So, with your support, we have been able to put Ibadan’s traditional system back on track.” According to the governor, he promised members of the Central Council of Ibadan Indigenes (CCII), when they came to him, that the 2022 Ibadan Cultural Festival Week, would be celebrated with the new Olubadan on the throne. “When CCII came to meet me, they were concerned. In fact, they had already fixed the date for Ibadan Week but I asked them to shift it by one week and I promised that we would install the new Olubadan around that week.

A former Governor of old Enugu State and former National Chairman of the Peoples Democratic Party (PDP) Dr. Okwesilieze Nwodo, has faulted a former Deputy President of the Senate, Ike Ekweremadu on zoning claims, saying there was a subsisting agreement on rotation of the seat of governor among

The former governor confirmed this at the weekend, when members of Nkanu East Leaders Consultative Forum (NELCF), led by former Power and Steel Minister, Professor Barth Nnaji, visited him at his Enugu residence to seek support in their quest for the state’s 2023 governorship slot coming to Enugu East Senatorial District to be ceded to them.

arrangement for the governorship seat in the state. But Nwodo, while receiving the Nkanu East leaders, said there was an agreement for the rotation of governorship position among the three senatorial zones in Enugu State, which happened during the Sullivan Chime’s administration. The former governor, who

such bond and commitment, he would be happier if Enugu East zone considered Nkanu East for the governorship position. Recalling how the understanding was initiated, he said: “I was very happy, when under Governor Chime, we decided that we shall be rotating (Governorship) position in Enugu State.

Wife Raises the Alarm over Husband’s Deteriorating Health in SFU Detention Wale Igbintade The wife of a detained businessman, Mr. Ignatius Ukpaka, has raised the alarm over the deteriorating health of her husband in custody of the Special Fraud Unit (SFU) over a civil dispute pertaining to a landed property in Banana Island, which a Lagos State High Court has declared him owner. Addressing a press conference

in Lagos, Mrs. Uche Ukpaka disclosed that the Police arrested her husband who is suffering an underlying ailment in Lagos on March 8, 2022, under the pretext of executing a warrant of arrest. She stated that the current charge is the third time the federal government is bringing charges against her husband before the Federal High Court in Lagos, adding that two similar criminal charges over

the ownership of disputed property were struck out by the court. Mrs. Ukpaka stated that the federal government had brought a criminal charge over the land before the Federal High Court in 2014 against her husband and that the court declared the charge illegal, unconstitutional and discharged him. She further stated that surprisingly, the federal government in 2018 brought

another criminal charge over the same land against her husband and the court in 2019 similarly dismissed the charge declaring it unconstitutional and unlawful, and also discharged her husband. Mrs. Ukpaka said that to settle the issue of the ownership of the land, the husband sued the federal government and Nigeria Deposit Insurance Corporation, NDIC(NDIC) at Lagos High Court.

MONDAY MARCH 14, 2022 ˾ T H I S D AY

NEWS XTRA

NDLEA Arrests Church General Overseer with Cannabis Enroute to Nairobi Crusade Michael Olugbode in Abuja Operatives of the National Drug Law Enforcement Agency (NDLEA) have arrested the General Overseer of the Christ Living Hope Church, Rev. Ugochukwu Ekwem, with 54 sticks of drugs wrapped around his body at the Murtala Muhammed International Airport, Lagos while on his way to a three-week crusade in Nairobi, Kenya. A statement yesterday by the spokesman of the anti-narcotics agency, Femi Babafemi, said the youthful and popular preacher who has his church headquarters in Isuaniocha, Mgbakwu road, Awka in Awka North local government area of Anambra State, with two other branches in Lagos and Abuja, was arrested last Monday, during the outward clearance of passengers on Ethiopian Airlines flight to Nairobi via Addis Ababa. According to Babafemi, when tested, the 54 sticks found on the clergyman proved positive to cannabis. He subsequently confessed during preliminary interrogation that he packed the quantity of illicit

substance on his body to use during his three weeks crusade in Kenya. The spokesman of the NDLEA also revealed in the statement that on the same day, another passenger, Nnakeanyi

Chukwuka King, who arrived the airport on Ethiopian Airlines flight from Sao Paulo, Brazil via Addis Ababa was intercepted during the inward clearance of passengers at the E-Arrival Hall of the Lagos

Airport. During a search of King’s luggage, the statement disclosed that 40 parcels of cocaine concealed inside bottles of body cream with a gross weight of 9.7 kilogrammes

were recovered from him. Babafemi said three days later, “on Wednesday, another passenger on Ethiopian Airlines flight to Italy, Mr. Edo Blessing was intercepted at the Departure Hall of the airport

with 2,090 tablets of Tramadol 225mg and Flunitrazepam. The suspect who hails from Edo state but lives in Italy has claimed ownership of the recovered psychotropic substances.”

2023 ELECTIONS CONSULTATIONS CONTINUE…

L-R: Former Governor of Abia State, Senator Theodore Orji; People Democratic Party (PDP) Presidential Aspirant, Mazi Sam Ohuabunwa, and Senate Minority Leader, Senator Enyinnaya Abaribe, during a meeting in Abuja recently

I’ll Not Renege on Full Payment Chidoka: Kukah and I Were Not in US to Lobby for PDP of Workers’ Salaries, Pensions, If Reelected, Says Oyetola Kingsley NwezehinAbuja

Yinka Kolawole inOsogbo The Osun State Governor, Mr. Gboyega Oyetola, has pledged that he would not renege on full payment of workers’ salaries and pension if he is reelected. Oyetola said this yesterday during an engagement programme with members of The Triangular Group of Pensioners in Osogbo. The governor, who was represented by his Special Adviser on Civic Engagement, Mr. Olatunbosun Oyintiloye, described

those who were spreading false information that he would stop payment of full salaries as enemies of progress. He said that his priority is to see the state’s workforce happy and productive, said the era of half salaries is gone in the state. Oyetola also assured pensioners in the state that nothing would stop the payment of their monthly pension, adding that their positive contributions to the development of the state would never be forgotten.

Paramilitary Board: House Leader, Committee Chairmen Question Aregbesola Juliet Akoje in Abuja House Majority Leader, Hon. Alhassan Ado Doguwa, and some chairmen of relevant committees of the House over the weekend asked for explanations from the Minister of Interior, Mr. Rauf Aregbesola, on why the federal government is proposing to bring all major paramilitary agencies in the country under one governing board. The House members who hosted the Interior Minister are currently in the process of

passing a proposed bill from the executive seeking to create the new board. The House leader who presided over the meeting stated that it was “necessary for them to seek the explanation on some provisions of the proposed amendment in particular why the ministry wants all these large entities put under one board. “And another provision in the bill is seeking the appointment of four commissioners for the board which in our view could be a financial burden on governments.

FG Commends United Nations Information Centre for Training Journalists MichaelOlugbodeinAbuja

The Federal Government of Nigeria has commended the United Nations Information Centre (UNIC) and Media Awareness and Information for All Network (MAIN) for their commitment to advocacy, sensitisation and training of critical stakeholders, especially journalists, on the Sustainable Development Goals (SDGs). Speaking at the training of

journalists on SDGs held in Maiduguri, the Borno State capital, recently, the Senior Special Assistant to the President on SDGs, Princess Adejoke Orelope-Adefulire, expressed her appreciation to UNIC and MAIN “for facilitating this strategic initiative. It is gladdening to have us utilise this platform to engage and reaffirm your contributions as critical stakeholders and partners in advocacy and sensitisation for the achievement of the Global Goals.

A former Minister of Aviation, Mr. Osita Chidoka, at the weekend, denied travelling to the United States in company of a fiery Catholic Bishop of Sokoto Diocese, Bishop Matthew Hassan Kukah, for a Peoples Democratic Party lobby of US congressional committees. Chidoka also said to ensure credible elections in 2023, partners of the Independent National Electoral Commission (INEC), should encourage the conduct of third-

party testing of INEC technology platform to ascertain its robustness, integrity, and performance ahead of the general election. Some reports had it that the duo travelled to the US on a lobby mission for the opposition PDP. But Chidoka, in a chat with THISDAY, denied any such mission, stating, “That is false. There was no such mission.” He, however, admitted that the duo was billed to attend a conference on Nigeria’s democracy organised by John

Hopkins University. “Kukah and I were billed to attend a conference on Nigeria’s democracy organised by John Hopkins University. I was there but Kukah could not make it. It was a zoom conference watched all over the world. Kukah participated via zoom. Why would anybody say it was a lobby. I can’t understand it,” he said. The reports alleged that Kukah and Chidoka were on a mission to lobby congressional groups to

support the emergence of the PDP in 2023. The report cited sources that claimed a US-based Nigerian consultant was coordinating the lobby. The consultant was allegedly expected to lead them to Nigerian lobby groups in the United States. The Nigerian lobby groups are also expected to lead them to congressional lobby groups thatwill attend some conferences put together for the purpose on Africa and Nigeria.

Umahi’s Removal Unconstitutional, Illegal, Says Ebonyi Senator Benjamin Nworie in Abakaliki

A former Senator in Ebonyi State, Senator Julius Ucha has described the removal of Ebonyi State Governor, Mr. David Umahi and his deputy, Mr. Kelechi Igwe, as unconditional and illegal. Ucha added that the judgment of the Federal High Court in Abuja over the defection of Umahi and

his deputy would be subject to judicial interpretation by the Appellate and Supreme Courts. In a statement issued in Abakaliki, the pioneer speaker of Ebonyi State House of Assembly, noted that the 1999 Constitution and 2010 Electoral Act both as amended did not contemplate what will happen when a serving Governor defects from a political party to another.

He said: “The 1999 Constitution of Federal Republic of Nigeria (as amended) stipulates reasons for the defection and those stipulations are only applicable to members of State House of Assembly and National Assembly. There’s no provision in the constitution contemplating what will happen when a governor defects. “Therefore, I do not know why the issue of defection of

a state governor is a subject matter for litigation. The 1999 Constitution as amended has a specific provision as to how a governor can vacate his office. Those provisions are by death, resignation, and incapacitation and by impeachment on misconduct by the State House of Assembly. It is not known to law or the constitution that a governor can be removed from office as a result of defection.”

Groups Condemn Attack by Thugs on A’Ibom Speaker Okon Bassey in Uyo

Two socio political groups, Akwa Ibom Integrity Alliance and the Mandates Eye have criticised attack on the Speaker of the Akwa Ibom State House of Assembly, Hon. Aniekan Bassey, by thugs at Ibiono Ibom Local Government Area of the state. Bassey was reportedly harassed last week by some miscreants for

wearing a cap with the face of one of the gubenatorial aspirants believed to be prejudiced by people in Itu/Ibiono Ibom Federal Constituency, an area laying claim to the governorship position by micro zoning. He was said to have gone to the local government area to consult with the people over his 2023 senatorial election in the Uyo senatorial district. At

a press conference held in Uyo weekend, the groups condemned the attack and expressed concern that politicking in the area in recent times have been overshadowed by blackmails, vindictive utterances, deliberate falsehood and physical assault by hired thugs by some politicians “Worthy of mention is the physical attack on the Speaker of the Akwa Ibom State House

of Assembly, Rt. Hon. Aniekan Bassey, who was consulting delegates from Ibiono Ibom to solicit their support for his Senatorial District aspiration. “We are indeed saddened that in the 21st century, a bunch of sane human beings could constitute themselves into nuisance and go around harassing and assaulting innocent persons who do not align with their political views.

‘Drug Abuse Leads to Chronic Kidney Disease’ Ibrahim Shuaibu in Kano Chronic kidney Disease (CKD), being a debilitating ailment, is said to be one of the diseases caused by drug abuse especially among youth. This was disclosed yesterday by a Professor at the Internal Medicine department of

Aminu Kano Teaching Hospital (AKTH), Professor Aisha Nalado, during an outreach at Hassan Ibrahim Gwarzo Secondary School, organized by the hospital in collaboration with Micro Nova Pharmaceuticals. Nalado explained that the percentage of youth suffering from kidney disease is on the

rise globally, with about 50 percent of patients with chronic kidney disease in AKTH under the age of 30. She further said that the excessive abuse of drugs mostly among youth made it compulsory for the hospital to sensitise the students on the effect of drugs on their kidneys

so as to curtail the prevalence. Also speaking, a Consultant Nephrologist, Dr Ademola Babatunde, disclosed that the signs and symptoms seen on patients with chronic kidney disease include; swollen face, foamy urine, blood in urine, and frequent urination at night.

MONDAY, ͹ͼ˜ ͺ͸ͺͺ ˾ T H I S D AY

MONDAYSPORTS

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

0811 181 3083 SMS ONLY

Osimhen’s Brace Keeps Napoli in Contention for Serie A Title Super Eagles forward, Victor Osimhen, last night ensured that Napoli stayed on the heels of Serie A leaders AC Milan with both goals in an eventful 2-1 win at Verona which moved his team second. The Nigerian player who is expected to lead Super Eagles’ attack in the World Cup Play-off against Ghana later this month, struck in each half as Luciano Spalletti's men ensured they would be three points behind Milan come the end of the weekend. Inter who were one goal down at half time in Torino last night may still leapfrog Napoli to second if they upturn and with the clash. Osimhen fired Napoli in front in the 14th-minute by thumping home a perfect header from Matteo Politano's cross on a busy day in which he also forgot his protective face mask when coming out for the second half. At one point it looked as though Napoli would have to do without Osimhen for the best part of half an hour when the 23-year-old was down with a left shoulder problem following a clash with Koray Gunter. Osimhen was on the floor for two minutes and then treated pitchside while Spalletti was also deciding what to do with goalkeeper David Ospina, who just moments earlier had Federico

Ceccherini land on his hand during a goalmouth scramble and looked in serious pain. That created a real problem for Spalletti who was also without Alex Meret with a fractured vertebra and on the bench only had young stoppers Davide Marfella and Hubert Idasiak, neither of whom have ever played a Serie A match. Both carried on however and Osimhen doubled Napoli's lead in the 71st minute, meeting Giovanni Di Lorenzo's low pull back with a neat first-time finish which left Lorenzo Montipo with no chance. The match looked done and dusted but there was still time for more drama as Marco Faraoni headed the hosts back into the game six minutes later following a delightful move and a pinpoint Adrien Tameze cross. However just as Igor Tudor's team pushed for the draw Ceccherini was sent off for a second bookable offence which allowed a ruffled Napoli to close out the match. Ceccherini's sending off infuriated Verona and captain Faraoni was also shown a red card after the final whistle following livid protests directed at referee Daniele Doveri. The Nigerian has now scored nine goals in 19 matches but 13 goals across all competitions in the on-going season.

Our Edo Sports Commission Team Will Surpass Expectations, Says Yussuf Alli The newly appointed Chairman of the Edo State Sports Commission, Yussuf Alli, has assured the Governor Godwin Obaseki and the good people of the state that the team selected into the board of the commission to turn around sports in the state will surpass expectations. Speaking to reporters shortly after the board’s inauguration at the weekend, Alli said the team assembled by Governor Obaseki will turn around sports anywhere. “The team selected by His Excellency shows that he places a premium on merit above other considerations, and on behalf of our team, I am assuring the good people of Edo State that we will surpass their expectations and that of the governor,” stressed the former Commonwealth Games gold medalist and national long jump record holder. Governor Obaseki at the inauguration expressed his confidence in the new board of the Edo Sports Commission. “Yussuf Alli, the Chairman of the Edo Sports Commission has excelled, both locally and internationally. In Edo, we have to catch them young in sports. Almost a million of our young generation are under the age of 12 years. We must rethink sports and catch them young. “40 years ago, government regulated, operated and participated in sports, putting all the resources required into sports. Our emphasis today, as a government, is to continue to provide policy direction for sports,” observed the governor. He also noted that there’s lot of money outside government to finance and sustain sports. Obaseki hinted that his administration was designing

the state’s sports architecture to create new laws to regulate sports, and bring capable and competent persons to help manage the sector in the state. He further noted, “Edo State can start now to prepare for a global market in sports by identifying young talents in schools and catching them young. In five years’ time, the state can train about 10,000 to 20,000 talents and if 1,000 of these talents become global stars, the state will benefit greatly.” He expressed his happiness that Alli and board members agreed to serve the state. He urged the new chairman to separate politics from sports. “I am glad you have accepted to serve but I advise you to separate politics from sports if we must succeed in our plans. We should excel in all areas of sports as we continue to invest in sports development.” In his words, the Alli thanked the Governor and his Deputy, Phillip Shaibu, and promised that his team will give the governor and the good people of Edo State the best”. “In the history of this country, there has not been a board as big as this. This is an assurance that you want sports bar raised in the state. I want to assure you that this group will do its best to reposition sports in Edo to its rightful top position.” Apart from Alli, other board members include; Sabina Amiemenoghena Chikere (Permanent Secretary Edo State Sports Commission and Secretary to the Board), Frank Ilaboya, Anehita Emeya, Osayaba Osareren, Asue Ighodalo (Chairman, Skye Bank Plc), Uyi Akpata and Emmanuel Igbinosa.

Victor Osimhen...scored brace as Napoli continue their push to top of the Italian Serie A

Ogunsakin Retains Title as Curtain Falls on 2022 CBN Junior Tennis Duro Ikhazuagbe The 16th edition of the CBN Junior Tennis Championship came to an exciting end on Saturday with Seun Ogunsakin retaining his Boys 16 & Under title at the Lagos Lawn Tennis Club (LLTC) in Lagos. As usual, Ogunsakin had to fight back from 2-0 , 5-3 and 6-5 to defeat Ganiyu Mubarak 9-6 in a fiery contest that left tennis buffs asking for more. Ogunsakin fondly called Nadal by his fans surged through the tension created by his father/coach to win four straight games from an obviously tiring Mubarak to retain his title. In the Boys 10 & Under category, defending champion Murewa Egbeyemi showed exceptional determination to overcome the challenge of Dubem Amasiani who won the last ITA Junior Circuit tournament in Port Harcourt which Egbeyemi did not attend. It was a dogfight which lasted over an hour with some points going up to 30 solid rallies. But, once Egbeyemi broke for a 4-3 lead, he consolidated his lead and held firm to retain his title 9-5. Speaking at the closing ceremony of the 16th edition of

CBN's Corporate Communications Director, Osita Nwanisobi (right), presenting award to Murewa Egbeyemi, Most Valuable Player in the boys' category of the 2022 CBN Junior Tennis Championships concluded at the weekend in Lagos the CBN Junior Tennis Tournament, Governor of the CBN, Godwin Emefiele, said: “When the Central Bank of Nigeria conceived the idea of sponsoring the CBN-Junior Tennis Tournament in 2007, the main goals were to discover and

groom teenage talents as well as nurture potential tennis champions in four age groups (10, 12, 14 and 16).” The CBN Governor who was represented at the event by the Corporate Communications

Director of the apex bank, Osita Nwanisobi, stressed that the journey in the last 16 years has witnessed the discovery of an array of talented young boys and girls, some of whom have gone on to achieve great feats in the game locally and on the international scene. “The success recorded thus far no doubt underscores the fact that the investment has been worthwhile. Specifically, this tournament has afforded Nigerian junior tennis players the platform to dominate the West African Circuit of the International Tennis Federation (ITF) for several years. “Marylove Edward and Oyinlomo Quadre are now ranked in the top 200s in the ITF Junior world rankings and could be set for appearances at the Grand Slam Junior event. “Similarly, the likes of Joseph Imeh, Thomas Otu, Sylvester Emmanuel and Moses Emmanuel, who have dominated the senior level in Nigerian tennis are all products of the CBN Junior circuit.” He said he looks forward to having the winners participate in the CBN Senior Tennis Championships scheduled to hold later in the year.

MONDAY, ͹ͼ˜ ͺ͸ͺͺ ˾ T H I S D AY

SPORTS

LEWANDOWSKI...Waxing better with age

BENZEMA...killed oﬀ PSG with his hat trick

RONALDO...now men’s all-time highest scorer

Hat Tricks of Veterans! Lewandowski, Benzema, Ronaldo proving age just a number Duro Ikhazuagbe On Tuesday last week, 33-yearold Robert Lewandowski scored a Champions League hat-trick against FC Salzburg. The three goals were scored in just 11 minutes. The Polish international has 12 goals in the Champions League this term with 29 in the German Bundesliga. In all, Lewandowski has over 600 goals in his career for both club and country. And his is 33 years old. Twenty four hours later,

34-year-old Frenchman, Karim Benzema, fired a hat trick of goals to help leapfrog Real Madrid above visiting PSG into the quarter finals of this year’s Champions League. That hat trick moved Benzema’s tally in the Champions League to eight goals. He also has 20 goals to his credit in the Spanish La Liga this term. With his 290 goals at Santiago Bernabau, Benzema ranks fourth amongst Madrid’s all-time scorers that include Alfredo di Stefano (308),

Raul Gonzalez Blanco (323) and Cristiano Ronaldo (451) goals. Interestingly, the 37-year-old Portuguese last Saturday also chalked up his second Premier League hat-trick as floundering Manchester United defeated Tottenham Hotspur 3-2. Ronaldo etched his name in the record books as professional football’s all-time leading scorer with 807 goals! The all-time goal-scorer title in men’s football is much contested and as FIFA does not keep an

official record, but the world governing body estimates that Austro-Czech Josef Bican netted 805 goals during a career that lasted from 1931 to 1955. Ronaldo’s 12th-minute opener at Old Trafford was a superb strike from distance that helped him equal the record. The Portugal international then went past Bican with a tap-in from Jadon Sancho’s neat pass to put United 2-1 in front before powerfully heading home his third and the winner to spark

Arsenal Return to Top-four with Win over Leicester

Arsenal cruised to a 2-0 win over Leicester City in the Premier League on Sunday, as goals from Thomas Partey and Alexandre Lacazette proved to be the difference between the sides.

PREMIER LEAGUE The Gunners started brightly, with Bukayo Saka, Martin Odegaard and Gabriel Martinelli

causing the Leicester backline numerous problems. And the Gunners got their just rewards in the 11th minute when Partey rose highest at the near post to head home a Gabriel Martinelli corner.

Oshoala Wins Third League Cup with Barca Femeni Barcelona Femeni have been crowned Primera Division champions for the third season in a row, wrapping up the title in spectacular fashion with a 5-0 thrashing of Real Madrid. The reigning European champions haven’t dropped a single point in the league this season, with the Clásico at the Estadi Johan Cruyff their 24th consecutive win. There are six games of the campaign still left to play, but Sunday’s result means that Barça have an unassailable 22-point lead over second place Real Sociedad. To put their domestic dominance into context, Barça hammered La Real 9-1 when they met in San Sebastian just last month. The reverse fixture at home in October had finished 8-1.

To seal the title this week, 2021 Ballon d’Or winner Alexia Putellas and co. made light work of Real Madrid in front just over 5,400 eager fans in Catalonia. Putellas herself broke the deadlock shortly before half-time and almost immediately doubled that lead with her second. Patri Guijarro and Jenni Hermoso then ran up the score-line in the second half either side of an own goal from Blancos defender Babett Peter. Barça have unbelievably scored 130 goals in their 24 Primera matches this season, an astonishing average of 5.4 per game. They have only failed to win by three or more goals on one occasion and have also conceded just six times in those 24 games, keeping 18 clean sheets.

Jonatan Giraldez’s team have now completed the first leg of a second successive treble that was first won under predecessor Lluis Cortes in 2020/21 and remain favourites to lift both the Copa de la Reina and Champions League trophies again this season. Their Copa campaign will continue in just a few days’ time when they face Real Sociedad in the quarter-final on Wednesday. They will also resume their Champions League campaign later this month with an allSpanish two-legged quarter-final against Real Madrid. Barça cruised through the Women’s Champions League inaugural group stage back in the first half of the season, including home and away thrashings of English giants Arsenal.

The home side's dominance continued thereafter, and Partey almost doubled their lead with a wonderful side-footed effort from the edge of the box, but the ball cannoned off the upright. Leicester finally started to show some signs of life around the half-hour mark, with Kiernan Dewsbury-Hall and Harvey Barnes starting to get on the ball a bit. The latter was denied the equaliser in the 35th minute by an astonishing save from Aaron Ramsdale, who was at full stretch to tip Barnes' header round the post. Arsenal regained control at the start of the second half, running Leicester's backline ragged. And the defence did eventually collapsed catastrophically as Caglar Soyuncu (who else?) stretched out a hand to block a Partey header, gift Arsenal a penalty, and get himself a yellow card. Lacazette stepped up to convert the resulting spot kick with aplomb - slamming it into the top left corner of the net. After going two down, Leicester's heads clearly dropped and Arsenal took advantage. The victory moves Arsenal back up to fourth, one point clear of Manchester United in fifth – but the Gunners have three games in hand.

wild celebrations in the stands. It was the 59th hat trick of Ronaldo’s career and his first for United since 2008 following his return. “It was a beautiful game and a beautiful reaction from us,” United midfielder Paul Pogba told BBC Sport. “We hurt them at the right times and Ronaldo did what he does best. “He has never been a problem. When you have the best striker in history in our team, it cannot be a problem. Today he showed why he is Cristiano Ronaldo. The performance from him and all the team was very brilliant,” stressed the French star. Ronaldo’s goals have been scored for Sporting CP (the Portuguese side from where he switched to Old Trafford in 2003), United, Real Madrid, Juventus and the Portugal national team. Ronaldo holds the all-time records for most Champions League goals (140) and most international goals in men's world football (115). He’s a five-time Ballon d'Or winner. Although Czech FA has

insisted that Bican’s total was actually 821 goals following a review of his statistics, there’s no stopping Ronaldo now as he appears still in tip-top shape to continue his club career for several more seasons. Brazilian strikers Pele and Romario each scored more than 1,000 goals during their careers, but those statistics include strikes in amateur, unofficial and friendly matches. Speaking after Saturday’s hat trick, Ronaldo said on social media: “Nothing beats the feeling of being back on the pitch and help the team with goals and effort," he wrote on Instagram after the game. "We've proven once again that we can beat any team in any given day, as long as we work hard and stand together as one." To have been able to move over 70,000 fans to their feet, there is no stopping Ronaldo now even as there are speculations he’s likely to move in summer despite still having one year left on his contract at Old Trafford.

UCL Exit: Messi, Neymar Booed by PSG Fans Lionel Messi and Neymar were subjected to boos and jeers from Paris Saint-Germain fans yesterday in their first game since their dramatic Champions League collapse to Real Madrid last Wednesday. Lining up against Bordeaux in Ligue 1 on Sunday, both players were relentlessly booed by the home supporters and their every touch jeered. Kylian Mbappe -likely to move to Real Madrid on a free transfer in the summer -- escaped the home fans' wrath. At one point in the first half, the home fans booed as Messi and Neymar stood over a free kick, only to sarcastically cheer when Neymar hit his effort over the bar. Mbappe then put PSG 1-0 ahead on 24 minutes and the

home support cheered his goal. Neymar then made it 2-0 after 52 minutes, but he was then roundly whistled and did not celebrate his goal. PSG won the match 3-0 against the league's bottom club to move 15 points clear at the top and continue their march toward the Ligue 1 title. PSG's "Ultra" group, the Collectif Ultras Paris, released a statement on Twitter ahead of the match, blasting the club's direction. "Our Paris Saint-Germain deserves people who serve it, not people who are served by it. Against Bordeaux on Sunday, we will show our displeasure and we ask everyone who loves this club, who will be present, to unite with our non-violent action," it read.

Monday, March 14, 2022

UT H

& RE A SO

Price: N250

MISSILE NLC to Professional Politicians

“’2023 is the year to retire all professional politicians who campaign without commitment to any manifesto. A year to retire professional politicians who see politics as an end and not a means to serve the ordinary people of our country. A year that political campaigns will be on clearly deﬁned manifesto which must resonate with the demands of Nigerian workers and people” – NLC President, Ayuba Wabba, urging workers to sack self-centred politicians come 2023.

MAHMUDJEGA VIEW FROM THE GALLERY

All Progressives Confusion D uring birthday and get together parties during our secondary school days, Riddles and Jokes was a regular item on the program. In case students these days still do Riddles and Jokes at parties, I have one riddle suggestion for them. It is this. A Nigerian political party wants to hold a National Executive Council meeting in order to replace its Caretaker National Chairman and Caretaker National Secretary with an Acting Caretaker National Chairman and an Acting Caretaker National Secretary, who will be in office for ten days because a convention is scheduled for next week. A letter was sent to INEC to observe the daylight coup. INEC wrote back and said the letter was not signed by the substantive caretaker officials. INEC will only observe the meeting convened to sack the substantive Caretaker Chairman and Secretary if they themselves invite it. They must also give it 21 days’ notice while the convention is less than two weeks away. Any party goer who can solve this riddle will get an extra bottle of Coke. On Tuesday last week, nearly every print and online newspaper in the country used the word “confusion” in its story headline to describe the situation in APC. Maybe it was worse than that; what happened in APC was the political equivalent of an abortive coup such as we had in Nigeria in 1976, 1986 and 1990. Chairman of its Caretaker/Extraordinary Convention Planning Committee [CECPC], Yobe State Governor Mai Mala Buni, was abroad on sick leave. First thing on Monday, Niger State Governor Abubakar Sani Bello arrived at the party’s national secretariat, parked his car in Buni’s lot, sat on Buni’s chair, assumed Buni’s title and rapidly undid many of Buni’s decisions, such as membership of convention planning committees. Videos of Bello’s arrival at the secretariat showed a crowd of supporters hailing him as “Chairman!” Nigerians were forewarned because ThisDay came out with a story that morning saying Bello was set to replace Buni. At that point it was still possible to find an amicable solution. It turned out that before he left the country, Buni wrote a letter to Bello asking him to take charge of party affairs pending his return. Though the letter was widely posted in the media, Bello denied that he received it and INEC also denied receiving it. Matters however got out of hand when Kaduna State Governor Nasiru El-Rufa’i went on Channels television and made some startling claims. He said “Buni will never return” as party chairman. He accused Buni of many things, including obtaining a secret court order to truncate the March 26 convention. Which of the orders? A report in Punch last Friday said there are 206 court cases from APC state chapters that held parallel state congresses

Buni

seeking recognition as delegates before the convention can hold, so which one of them did Buni get? El Rufa’i’ forcefully said Buni’s removal as party chairman was approved by 19 APC governors and endorsed by President Buhari. This assertion was a public relations disaster for legality and internal party democracy in APC. Governors have no power under the party’s constitution to appoint or remove its officials. That 19 out of 22 of them supported the putsch is immaterial, as long as it was not endorsed by the party NEC, which they cannot now convene. Governor el-Rufa’i’s assertion that President Buhari told them to go and effect the change in the party’s leadership damaged the president’s credentials as a born-again democrat and stickler for procedure. Buhari’s case was not helped, in the public mind, by the fact that he did not proceed to UK from Kenya as earlier announced but returned home for two days. Some commentators alleged that he returned home only to support the party putsch.

Attempts by APC’s spokespersons to clarify matters only added to the confusion. Three statements they made were ambiguous and contradictory. They said Buni was not removed but that Bello is in charge, that John Akpan Udoedehe had not resigned as party secretary, even though Prof Tahir Mamman signed the letter to INEC in his place. From that point, things really got out of hand when Ondo State Governor Rotimi Akeredolu said “Yahoo Yahoo governors” in APC were supporting Buni. Akeredolu also accused “some pocket filling elements within the corridors of power to supplant the President’s will through fake letters, endorsements as well as Black Market injunction [procured since November, 2021].” Zamfara State Governor Bello Mohammed Matawalle responded by condemning Akeredolu’s “use of unprintable words.” He said it was not right for APC governors “to wash our dirty linens in the media” and that “there is no point in promoting disharmony among ourselves.” Among the strange accusations that some APC governors made was that their colleague Mai Mala Buni nurses an ambition for a higher office. To accuse a political party member of nursing an ambition is like accusing a man who attends prayers in a mosque of nursing an ambition to enter Paradise. Anyone who has no ambition has no place in a political party. It could well be that when this wind blows over, relations between APC governors would be so poisoned that they may not be able to meet again. Which may not be a bad idea because back in the Second Republic, the ruling NPN never had a visible Governors’ Forum. Its opponents however had one, the Nine Progressive Governors’ Forum of 5 UPN, 2 PRP and 2 GNPP governors, later joined by three NPP governors after the NPP/NPN Accord fell apart. NPN governors never had need for such a forum since the highly effective NPN secretariat took care of all their political needs. As a ruling party, APC is doing things

El Rufa’i’ forcefully said Buni’s removal as party chairman was approved by 19 APC governors and endorsed by President Buhari. This assertion was a public relations disaster for legality and internal party democracy in APC. Governors have no power under the party’s constitution to appoint or remove its ofﬁcials

much more crudely than NPN ever did back in the Second Republic. I cannot remember a newspaper story in that era saying President Shehu Shagari summoned NPN governors and dictated to them a consensus candidate. At NPN’s 1982 Kano convention, which Shagari could not attend because of the weather, reports said he preferred Chief Adisa Akinloye to continue as chairman against Chief MKO Abiola. Though Akinloye won, Shagari’s preferred candidate to continue as National Secretary, his old classmate Alhaji Sulaiman Takuma, was defeated by Senator Uba Ahmed. Shagari accepted the convention’s verdict and worked very closely with Uba Ahmed. NPN had something else that APC lacks, which was the regular meeting of its top executive, legislative and party leaders. Shagari hosted those meetings at State House every Monday night, which Vice President Ekwueme, Senate President Joseph Wayas, Party Chairman Adisa Akinloye, National Secretary Sulaiman Takuma [later Uba Ahmed], Senate Leader Olusola Saraki, Deputy House Speaker Idris Ibrahim and Secretary to the Federal Government Shehu Musa all attended. That meeting completely harmonized positions on all political matters. As such, it was unthinkable in the Second Republic for NPN legislators to publicly disagree with the President, for the president to veto a bill that NPN MPs supported, for NPN MPs to unanimously reject a bill that Shagari sent, for the party’s governors, ministers and MPs to be inserting self-serving amendments into the Electoral Act, for NPN governors to trade words in the media, or for anyone to attempt to take over the party’s leadership without approval of its NEC. Anyway, President Buhari moved on Saturday evening to try to clear the mess. He warned party leaders and members “to desist from name-calling and backstabbing” but did not say who did the back stabbing or who was stabbed in the back. APC, he said, should learn lessons in disunity, mismanagement and corruption from PDP, which he said is now enfeebled and adrift. He made references to dissent, intra-party discord, competing egos, infighting and distractions ahead of the convention. He blamed the media for magnifying the ruling party’s internal problems. President Buhari’s statement however stopped short of saying whether he approved of last week’s abortive caretaker leadership change, whether it should continue or whether it should be reversed. In case our young party goers turn around and say that this riddle I posed to them has no solution, I have news for them. When I complained that a homework he gave us had no solution, my Maths teacher said, “Every problem has a solution. If it does not have a solution, then it ceases to be a problem. It becomes a mystery.” We shall find out this week if the APC riddle is a problem or a mystery.

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