WEDNESDAY 27TH MARCH 2024

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Tinubu: We Must Treat Kidnappers as Terrorists, They're Cowards

Zamfara is under serious Siege, gov laments Warns local insecurity may be threat to entire north Kukah to FG: Interrogate persons with claims of ties with bandits Gumi says meeting with security agents productive, without animosity

Deji

CBN Doubles Down on Monetary Tightening, Again, Raises MPR to 24.75% to Curb Inflation

Increases merchant banks’ CRR to 14% from 10% Urges FG to address food insecurity, implement agricultural policies to improve supply Apex bank seeks to expedite banks’ recapitalisation

Cardoso insists all verified FX backlogs settled, $2.4bn ineligible, security agencies probing dubious transactions

Says CBN won’t restrict dairy firms from FX market Naira appreciates to N1,350/$1

www.thisdaylive.com Wednesday 27 March, 2024 Vol 29. No 10577. Price: N400 TRUTH & REASON Says it will be embarrassing to have refineries without feedstock Ekpo calls for more investment in gas infrastructure Lokpobiri, yesterday urged heads of agencies and top civil servants to minimise unnecessary bureaucracy in the petroleum ministry to make the oil and gas sector more competitive. Speaking at the opening of the ministry’s retreat in Abuja, tagged: “Building Synergy for Enhanced Development in Oil and Gas Sector”, the minister explained that the event was a follow-up to the one organised by the presidency last year, which bordered on how key performance indicators will be achieved. Present at the event were the heads of the Nigerian National Continued on page 12 Petroleum Company Limited NNPC (NNPC), the Nigerian Upstream Lokpobiri Seeks Reduction of Bureaucracy in Petroleum Sector, Eyes $5bn in Bonga North Project Emmanuel Addeh in Abuja The Minister of State Petroleum Resources (Oil), Senator Heineken ZAMFARA UNDER SIEGE BY BANDITS... Zamfara State Governor, Dauda Lawal (L) being welcomed by President Bola Ahmed Tinubu, during the governor's visit to the Presidential Villa, Abuja..... yesterday PHOTO: GODWIN OMOIGUI Continued on page 12 Continued on page 12 the Monetary Policy Rate (MPR), the benchmark interest rate by 200 basis points to 24.75 per cent, from 22.75 per cent. government to come to his aid.
Elumoye, Chuks Okocha and Kingsley Nwezeh in Abuja President Bola Tinubu, yesterday, condemned what he described as the ‘reprehensible acts’ perpetrated by kidnappers across the country, declaring that individuals involved in such despicable crimes must be treated as terrorists. This was as the Zamfara State Governor, Dauda Lawal, has said the state was under the siege of banditry and kidnapping, and therefore pleaded with the federal
NUPRC Meets with Crude Producers, Refineries’ Owners, Wants Full Adherence to Domestic Supply Policy... Page 6 Okuama:
Invasion of His Country Home in Kiagbodo and Father's Ughelli House...
34 Ndubuisi Francis, James Emejo in Abuja and Nume Ekeghe in Lagos The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) yesterday resolved to raise
Clark Laments Army
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NAtiONAL ASSEmbLy ViSitS WtO...

NACCIMA Writes Edun, Cardoso, Says Govt Borrowing from Banks Blocking Private Sector Access to Credit

Urges

govt minimise insatiable borrowing disposition Seeks sectoral limits on public borrowing, bond issuance, others

James Emejo in Abuja

The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), has expressed concerns over the burgeoning rate of public sector borrowing from domestic banking institutions which has continued to

rise unsustainably.

The association said government’s involvement in the banking sector had resulted in a crowding-out effect, whereby private sector entities are currently “facing exorbitant barriers to accessing finance, which in turn stifles their capacity for growth and contribution to the national

Niger Assembly Asks State Governor to Pullout of AEDC

Laleye Dipo in Minna

Barely one week after Niger State Governor, Alhaji Mohammed Umaru Bago, announced that his administration has domesticated the Electricity Act and established an Electricity Regulatory Commission, the State House of Assembly has unanimously decided that the State should pull out of the Abuja Electricity Distribution Company (AEDC)

The House in the unanimous resolution yesterday, also passed a vote of no confidence in the AEDC, the distribution company presently supplying electricity to the state.

The action of the lawmakers followed their inability to reach a common ground on how to improve electricity supply to the state during a meeting with the Chief Operating Officer of AEDC Mr. Chijioke Okwuokenye when he appeared before the House at plenary.

The lawmakers had told the AEDC Official that the poor electricity supply to the state was unacceptable especially when the state sits 60 per cent of electricity generating organisations, adding that "you

cannot be at the river bank and wash your hands with sputum."

The lawmakers wanted to extract a commitment from the Chief Operating Officer that the AEDC would guarantee a minimum of 18 hours supply of electricity to the state which he could not guarantee.

Responding to the submissions of the lawmakers, the Chief Operating Officer said AEDC was prepared to supply 24 hours of electricity to the state so long as the consumers were ready to pay for it.

According to him, "we buy this electricity and we have to pay to be able to buy next time.”

He argued further that consumers in the State were owning AEDC N3 billion describing the debt as huge.

The Speaker, Alhaji Abdulmalik Sarkindaji, who did not preside at yesterday’s plenary told the management of the distribution company that since the consumers in the state could not meet up with their contractual agreement in the area of payment as the reason for the present poor power supply, the State was ready to pull out of the AEDC controlled States.

economy”.

The group’s position was contained in a letter dated March 13, 2024, which was addressed to both the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun and the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, and signed by the National President, NACCIMA, Mr. Dele Kelvin Oye.

The association further noted that over-subscription of government debt instruments, at rates that eclipse the 21 per cent mark for treasury bills and even loftier premiums for state bonds, was “reflective of an economic milieu in urgent need of recalibration and judicious policy intervention”.

NACCIMA in its correspondence, titled, “Strategic Imperatives for Redressing Financial Disparities and

Augmenting Economic Viability in Nigeria”, pointed out that while the association acknowledged the difficult challenges inherited by the current administration, “We also believe that opportunities exist for Nigeria to explore new ways of addressing the challenges of the current global economic climate”. It stated that the current inflationary impact on economic stability and purchasing power of Nigerians, called for robust and multifaceted policy responses. The group commended the efforts of the Finance ministry as well as the strides of the CBN to mitigate inflationary pressures. The association however noted that "This must be underscored by a synergistic approach where monetary policy is buttressed by prudent fiscal mandates.

“The CBN, in strategic alignment with the Ministry of Finance, must architect a cohesive blueprint to minimize the inflationary effect of monthly FAAC allocations and the insatiable borrowing proclivities of the public sector.

“Such a regime would release significant capital within the banking system, thus enabling more optimal allocation of resources and extension of credit to private enterprises at more competitive rates for entrepreneurial innovation and investment.”

NACCIMA proffered several recommendations to boost economic growth among others.

It said the CBN should consider multiple tools in addition to Monetary Policy Rate (MPR) and CRR to manage inflationary effect arising from increased FAAC allocations,

adding that zero coupon stabilisation bonds and vouchers could be issued for FAAC allocations instead of cash.

The association said public and private sector liquidity management should be addressed on a sectoral basis, and called for the establishment of a robust forward pricing exchange rate mechanism to facilitate investment planning, stability and long-term economic prosperity. It further recommended for sectoral limits on public sector borrowing and bond issuance as well as public sector debt repayments from excess FAAC allocations in order to free up funds for the real sector.

It added that a public sector debt redemption programme will result in interest rate reduction as well as reduce aggregate borrowing costs for government.

National Assembly Seeks WTO Collaboration on Digital, Marine Economies

Sunday Aborisade in Abuja

Nigeria's delegation to the ongoing 148th Assembly of the Inter-Parliamentary Union (IPU), led by the President of the Senate, Godswill Akpabio, has sought the collaboration of the World Trade Organisation (WTO) in the area of digital and marine economies.

Akpabio, stated this while addressing journalists at the WTO headquarters, shortly after a courtesy visit to the Director General of the global body, Dr. Ngozi Okonjo-Iweala, in her office in Geneva, Switzerland,

on Monday.

A statement yesterday, by the Akpabio Media Office, explained that the delegation was at the WTO on a courtesy call and to looked for areas of collaboration with the organisation in the various sectors of the economy for the overall benefit of Nigerians.

Akpabio said, "We used our attendance at the IPU to pay courtesy visit to one of Nigeria's very costly export to the world, Dr. Ngozi Okonjo Iweala who is the Director General of the WTO.

"We came to thank her for the job she is doing for the world and

Value Re-Orientation: NOA to Establish Citizens’ Brigade in Schools

As part of efforts to address the problems affecting Nigerian children and youths, the federal government has mulled an initiative that would promote good value system in schools across the country.

The government also said it was the process of developing a national policy on parenting to help address various societal malaise including insecurity, broken marriages, lack of adherence to our national values and ethics.

thank her staff for supporting and standing by her to succeed. We, in Nigeria are very proud of her.

"We had discussions on the various developmental programmes of the WTO and we noticed that there were spaces where Nigerians can become major players.

"We discussed issues affecting trade back home in Nigeria and ways in which the National Assembly can assist in removing barriers, through legislation for the benefit of our people.

"We also talked about issue of regulations concerning digital economic contents, illegal fishing along the coastal states of Cross River, Rivers, Akwa Ibom and Bayelsa states.

because we have seen a space here for Africa to thrive in business and in trade," Kalu added.

Speaking in the same vein, the WTO chief, described the visit of the Senate president and the deputy speaker, to her office as "a huge honour.”

She said, "We were able to talk on those things we are doing at the WTO that would help make a material difference for Nigerians.

He also said the agency was interfacing with producers of carton films and media organisations to ensure that the content of carton programmes reflect some of our core national values.

"As I speak with you, we have already commenced the process of curating the type of local contents that our children should be watching which should be reflective of our national values.

“In addition, the NOA is in the process of establishing Citizens Brigades in Secondary and Primary schools.

Speaking yesterday, at the multistakeholders’ workshop on parenting programmes in Nigeria supported by Parenting For Life Long Health and Global Parenting Initiative, University of Oxford held in Abuja, the Director General, National Orientation Agency (NOA), Mallam Lanre Issa-onilu, said the agency was in the process of establishing Citizens Brigades in Secondary and Primary schools.

"The plan in the short term, is to establish 1000 per state in the 36 states and the Federal Capital Territory (FCT) making 37,000 citizens brigades promoting the contents of the National Values Chatter in the first instance," he said.

The DG explained that the core purpose of the initiative “was to familiarise our children from their formative stage with the promises that Nigeria is making to them and the commitments that they in turn owe to the country and their fellow citizens.

"In this way, we intend to develop children who are values-conscious. Our advocacy on the National Values Chatter emphasises the centrality of responsible parenting.

Issa-onilu said the NOÀ has decided to re-evaluate its strategies for carrying out its programmes and campaigns, adding that it has identified seven thematic areas of intervention with the acronym CLHEEAN (Crime, Lawlessness, Health, Education, Environment, Abuse and Narcotics).

According to him, the CLHEEAN project is a community centred project deliberately intended to address these challenges with the intent to collaborate closely with local partners and international agencies to initiate impactful solutions that will improve on the quality of parenting.

“It is intended that the contents of the National Values Chatter will form part of our schools’ curriculum throughout the period of schooling from primary to tertiary level.”

"We spoke on how the Nigerian women could benefit from the recent programmes funded by the organisation was also discussed.

"The establishment of a digital trade portal, where-in, all trade information could be accessed by our people top our discussion with the WTO.

"The deliberations were fruitful and we are confident that with our support in all of these, Nigerians would be the better for it."

In his brief remarks, the Deputy Speaker of the House of Representatives, Benjamin Kalu, said, " our best export to the world, took her time to bring us up to speak on the various innovations and initiatives of the WTO and what Africa and Nigeria stand to benefit from.”

"We are going back more refreshed

"We spoke of recent programme that we launched in some development programmes, from the standards and trade facilities to help in improving sanitary and vital sanitary standards for some of the crops in Nigeria, so that it helps in diversifying the economy to even fisheries and illegal mining of the waters of Nigeria.

"A lot of things on the table have already been discussed. I am honoured by this visit and I am home-sick."

The Chairman of the Senate Committee on Local Content, Senator Natasha Akpoti-Uduaghan, advocated for export opportunities for Nigeria.

She urged Okonjo-Iweala to help facilitate access to global markets for Nigerian businesses, and enhance export capabilities to bolster economic growth and diversification.

She further expressed concerns about her desire to see Nigeria take advantage of the opportunities that African Growth and Opportunity Act (AGOA) and Centre for the Promotion of Imports from Developing Countries (CBI) offer, respectively.

THISDAY • WEDNESDAY, MARCH 27, 2024 5 NEWS Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 0809 7777 322, 0807 401 0580
L-R: Senator Asuquo Ekpenyong, Senator Natasha Akpoti-Uduaghan; Senate President/Executive Committee member of IPU, Godswill Akpabio; Director General of the WTO, Dr. Ngozi Okonjo Iweala; Deputy Speaker, House of Representatives, Benjamin Kalu; and Senator Jimoh Ibrahim, after a courtesy call on the WTO chief in Geneva, Switzerland...yesterday

Pull-Out CeremOny in hOnOur Of mr. Onyema...

NUPRC Meets with Crude Producers, Refineries’ Owners, Wants Full Adherence to Domestic Supply Policy

emmanuel addeh in Abuja

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday met with crude oil producers as well as refineries’ owners in Nigeria in a bid to ensure full adherence to Domestic Crude Oil Supply Obligation (DCSO) as enunciated under section 109(2) of the Petroleum Industry Act (PIA).

The section compels crude oil producers in the country under the Oil Producers Trade Section (OPTS) and the Independent Petroleum Producers Association (IPPG) to reserve a portion of total crude produced to local refineries instead of exporting all the commodity.

Refineries’ owners have con-

sistently complained about the non-availability of crude oil for their facilities, resulting in redundancy and huge losses.

But at the stakeholders’ engagement on the implementation of the DCSO, the Chief Executive of the NUPRC, Mr Gbenga Komolafe, told the oil producing companies that the commission had received complaints, which he said were concerning.

“The complaints received so far from within commission, oil producers and Dangote refinery that are of concerns to the commission include: Inability to factor in the provisions of the law while executing contractual agreements. This has resulted in some companies being reluctant to allocate a portion of their production

to domestic refineries.

“Change in vessel nomination under 24 hours to laycan, inability to provide the required financial instrument / backing prior to loading, delay in expected time of arrival of vessels resulting in production cut which is inimical to our national budgetary targets.

“Frequent change in laycans for crude oil allocated to domestic refineries and delays at loading terminals after the arrival of the loading vessel,” he said.

He reminded the companies of section 109 of the PIA 2021, which mandates the allocation of a portion of crude oil produced by their respective companies to domestic refineries in operations.

In recognising the significance of the mandate in fostering the growth and sustainability of Nigeria’s domestic refining capacity, the NUPRC stated that the commission had been diligently working alongside the companies to ensure the effective implementation of this mandate.

“It is essential to acknowledge that the successful implementation of the DCSO requires careful coordination, collaboration, and proactive problem-solving among all stakeholders involved.

“Therefore, today's meeting is convened with a specific objective in mind: to review the status of implementation of the mandate outlined in Section 109 of the Petroleum Industry Act (PIA).

AfDB Approves $50m Loan to Support Climate Change Resilience, Improve Livelihoods in Yobe

“This includes a comprehensive examination of the challenges and complaints raised by all stakeholders involved in the allocation and offtake process,” Komolafe stated. He noted that the aim was to identify and address the challenges effectively, with the ultimate goal of ensuring a seamless and efficient allocation process by the oil producers and offtake by the domestic refiners, in strict adherence to statutory requirements and operational best practices.

The NUPRC chief executive stated that while it is natural to encounter challenges, particularly during the initial stages of implementing DCSO, the commission was closely monitoring all developments to safeguard against any adverse impacts on national production and to prevent any violations of the DCSO provisions.

Komolafe explained that although a committee had been set up with representatives of the commission, other stakeholders as well as the Dangote petroleum refinery, to

come up with a framework that will ensure hitch-free implementation of the DCSO provisions, it was necessary for to also have a discussion with the chief executives since the bulk stops at their desk.

According to him, there is the need for constructive dialogue to examine the causes of the issues and solutions on how to mitigate future re-occurrence with immediate effect.

“As a regulator, our priority is to uphold the integrity of the DCSO framework while fostering a conducive environment for the sustainable growth of Nigeria's oil and gas industry. “We remain dedicated to working closely with all stakeholders to overcome challenges, mitigate risks, and ensure compliance with statutory requirements,” he said.

Komolafe stated that by March 28, the committee driven by the NUPRC is expected to look at the issues and come up with a clear mandate that will resolve all the challenges.

Sets up Committee to establish new framework for implementation Commission schedules 29.8m barrels for supply to local market in 5 months State

The Board of Directors of the African Development Bank Group (AfDB) has approved a $50 million loan for the Yobe State Environmental and Climate Change Action Project (ECCAP).

The loan is to enhance climate change resilience, boost food security and improve livelihoods for over 3.5 million people in northeast Nigeria.

In a statement, the multilateral institution noted that the project cost was estimated at $101.34 million with the AfDB providing a $50 million loan while the Arab Bank for Economic Development in Africa (BADEA) was expected to provide $30 million in co-financing.

Speaking during the Board of Directors’ approval of the project, AfDB President, Dr. Akinwumi Adesina, said the project would help tackle general insecurity, climate vulnerability, food insecurity and build resilient livelihoods.

“This is a very practical and granular project that tackles the issues of insecurity, more generally vulnerability, but also food security, and restoration of the degraded environment. It is all about how we build resilient livelihoods. This is a project that shows how we can do that in an integrated way,” he added.

The Director General of the Bank’s Nigeria Country Department, Lamin Barrow, said: “With the key interventions in afforestation and reforestation

contributing to carbon sequestration, this green project will help reduce vulnerability to climate shocks, build the resilience of the target population and boost Nigeria’s efforts to meet its African Forestry Landscape Restoration Initiative goal to restore 4 million hectares of land degraded by climate change, a regional and global public good, and Sustainable Development Goals 13 and 15 targets.”

China

For his part, the Director of the Bank’s Agriculture and Agro-Industry Department, Martin Fregene, said: “The ECCAP project is not a typical livelihood support project; it seeks to fill a gap to ensure sustainability in livelihood-enhancing projects.

“The project will lead to the improvement of the vegetative cover of the state with more than 20 million established trees over ugo aliogo

Continues online 120,000 hectares and will train selected youth and women to set up 3,560 new MSMEs that will process and market new products using raw materials from trees, such as neem oil, and introduce improved clean cooking stoves and clean cooking technologies targeting 10 percent of the population.”

Files WTO Dispute against US over Discriminatory Subsidies

ndubuisi francis in Abuja

China has initiated dispute settlement proceedings against the United States of America at the World Trade Organisation (WTO) over 'discriminatory subsidies' to safeguard its interests in the electric vehicle (EV) industry, the Chinese mission stated yesterday.

This was confirmed by the WTO.

China said it was contesting "discriminatory subsidies" under the United States Inflation Reduction Act that it said resulted in the exclusion of goods from China and other WTO countries.

The wide-ranging law provides billions of dollars in tax credits to help consumers buy electric vehicles

and companies produce renewable energy, as President Joe Biden aims to decarbonise the mighty U.S. power sector.

"Under the disguise of responding to climate change, reducing carbon emission and protecting environment, (these subsidies) are in fact contingent upon the purchase and use of goods from the United States, or imported from certain particular regions," said the Chinese mission.

The mission noted that it was launching the proceedings, "to safeguard the legitimate interests of Chinese electric vehicle industry and to maintain a fair level playing field of competition for the global market."

According to Reuters, a WTO official confirmed that a request from China for dispute consultations on the matter had been received, without providing details.

In Beijing, a spokesperson for China's Ministry of Commerce said it urged Washington to, "promptly correct discriminatory industrial policies, and maintain the stability of the global industrial and supply chains for new energy vehicles."

There was no immediate response from the Office of the U.S. Trade Representative in Washington to a request for comment.

WTO rulings on trade disputes are supposed to take six months after an adjudication panel is set up but often take longer.

FG, OPS Commit to Addressing Post-harvest Losses with Cold Chain Technology

Gilbert ekugbe

The Federal Ministry of Agriculture and Food Security and the organised private sector (OPS) have announced plans to strengthen partnerships and collaborations in their bid to address post-harvest losses in the country by deploying cold chain technology.

The Minister of Agriculture and Food Security, Sen. Abubakar Kyari, yesterday, at the opening ceremony of the sixth West African cold chain summit and exhibition, lamented that post-harvest losses remained a pressing concern in Nigeria, with estimates suggesting that up to 40 per cent of Nigeria's agricultural produce was being lost annually due to inadequate storage and transportation facilities.

According to him, the alarming statistics represented not only a substantial economic loss to farmers, but also posed a grave threat to food security and nutrition in the nation.

The Minister pointed out that cold chain infrastructure, encompassing refrigeration, transportation and storage facilities, plays a crucial

role in preserving the quality and nutritional value of agricultural produce from farm to fork, stressing that the Nigerian government was committed to fostering partnerships and collaborations with both public and private stakeholders to strengthen Nigeria's cold chain networks.

He bemoaned that despite Nigeria's agricultural abundance, millions of Nigerians continue to suffer from food insecurity and malnutrition, perpetuating a cycle of poverty and deprivation.

"As we strive to build a resilient cold chain infrastructure, we must also prioritise interventions aimed at improving access to nutritious food, promoting dietary diversity, and addressing the underlying determinants of malnutrition," he said.

He added, "As we convene to deliberate on the challenges and opportunities within the cold chain sector, it is imperative to underscore the pivotal role that cold chain infrastructure plays in safeguarding the integrity of our agricultural produce and ensuring food security for our populace.

6 WEDNESDAY, MARCH 27, 2024 • THISDAY NEWS
L-R: Chairman, Association of Securities Dealing Houses of Nigeria (ASHON), Sam Onukwue; Group Chief Executive Officer (GCEO), Nigerian Exchange Group Plc (NGX Group), Temi Popoola; (Wife) Annette Onyema; outgoing GCEO NGX Group, Oscar .N.Onyema, OON FCS; former Chairperson, NGX RelCo, Erelu Angela Adebayo; Group Chairman, NGX Group, Alhaji (Dr.) Umaru Kwairanga; MD/CEO, Central Security Clearing System (CSCS) Plc, Haruna Jalo-Waziri; Hafsat Rufai, Director, Securities and Exchange Commission (SEC), Lagos Office, Hafsat Rufai; Ag. CEO, Nigerian Exchange Limited (NGX), Jude Chiemeka; President/Chairman of Council, Chartered Institute of Stockbrokers (CIS), Oluwole O. Adeosun, FCS; MD/CEO, NG Clearing, Farooq Oreagba and former Interim CEO, NSE, Emmanuel Ikhazoboh, during the Pull-Out Ceremony in honour of Mr. Onyema as he completes his tenure as GCEO of NGX Group.
govt will contribute $4.52m in counterpart funding
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Insurance Assets Hit N2.67 Trillion as Oil & Gas Drives Industry's Growth

Emejo

Total insurance industry assets increased to N2.67 trillion and capitalisation of N851 billion in 2023, the National Insurance Commission (NAICOM) disclosed yesterday.

The sector performance recorded significant rise in the review period driven mostly by oil and gas and fire insurances, contributing 27.3 per cent and 24.1 per cent respectively.

Gross Premium Written (GPW) grew to N1.003 trillion, representing about 27 per cent growth compared

to the N790 billion in 2022

According to the Market Performance Report, Q4, 2023, released by the commission, Non-Life business accounted for 61.3 per cent of all premiums written during the year, while the Life segment contributed 38.7 per cent, valued at N388.1billion.

The report showed that the market also recorded a retention of about 87.7 per cent for the Life business, just about 54 per cent for Non-Life, while the aggregate market average retention stood at 66.7 per cent during the same period.

Also, the Life business recorded

about 95 per cent of net claims to the total recorded claims during the year while the market average stood at about 71.4 per cent of the N536.5 billion gross claims reported in 2023.

It said, “In a direct reflection to the “no-premium no-cover” policy

of the Commission, the outstanding premium continue to decline, posting a 1.6 per cent as outstanding of all the premiums generated in the market during the period."

The industry sustained its progressive trend of positive market performance at the close of the year.

Climate Change: Lagos Govt Alerts Residents in Vulnerable Location of Possible Flooding

Segun James

Barely two weeks to the commencement of heavy rainfall, Lagos State Government has warned residents living on flood plains of major rivers and drainage channels to be on the alert and ready to relocate to higher grounds when the need arises.

The State Commissioner for the Environment and Water Resources, Mr. Tokunbo Wahab gave the warning during a press conference at Ikeja, on Seasonal Climate Predictions (SCP) to annually alert Lagosians of the predicted rainfall patterns and its socio-economic implications for the people of the State.

While highlighting the flood plains areas such as Owode, Iwaya, Makoko, Badia, Ijora, Isaalu, Pota, Shibiri, among others, the Commissioner stated that the state government would continue to notify such residents at the appropriate time.

The government anticipated a more than normal amount of rainfall during the 2024 rainy season with unprecedented 1936.2mm of predicted rainfall.

He stressed that the average annual rainfall amount predicted for 2024 was 1936.2mm which was greater than the long-term average of 1721.48mm

with the onset date expected to be the first week of April and ceasing in the first week of December.

The Nigerian Meteorological Agency (NiMET), had on 20th February 2024, released this year’s Seasonal Climate Prediction (SCP) which is a forecast of the expected rainfall and temperature patterns spanning the entire country.

According to the Commissioner, the rainy season was expected to start in the first week of April and cease in the first week of December, while the average annual rainfall amount predicted is 1936.2mm and greater than the long-term average of 1721.48mm.

Speaking specifically, Wahab stated, "Lagos State is expected to experience normal to above normal rainfall, the same is reflective of neighbouring Ogun State."

He added that the low-lying areas of Agiliti, Agboyi, Itowolo and Ajegunle communities in, "Lagos State are being closely monitored with respect to the likelihood of Ogun River flooding as well as all other river basins in the State.”

The Commissioner said, "The Lagos State Signage and Advertisement Agency (LASAA) has been put on high alert to make sure advertising

and communication agencies comply with regulations on the safety of billboards and telecommunication masts to prevent the incidences of telecommunication mast collapse caused by the high wind speed, expected during the onset and cessation of every rainfall season.

"This puts all emergency response organisations, traffic management organisations and other emergencyrelated organisations on high alert to

help lessen the detrimental effects of thunderstorms and associated rains in the State.

"It is occasionally normal to have flash floods when it rains, which will percolate or drain off rapidly. It is only when flooding remains on the roads for hours that we can report that such places are flooded.

"Another contributory factor to flooding is the rise in Lagoon level. Anytime there is high tidal move-

ment, it may ‘lock up’ the discharge points of drainage channels and until it recedes, there will be no discharge.

“Such occurrences also cause backflows, resorting to flooding.

But as soon as the Lagoon recedes, all the generated storm water will immediately be discharged and our roads will be free.

"The pro-active administration in the State, in response to the above phenomena, has strengthened

the Flood Early Warning Systems (FEWS) to deliver reliable, timely and effective flood information at appropriate response times.

"We will step up our enlightenment efforts to sensitise and advise communities in coastal and low-lying wetland areas of the State, to move upland to avert needless loss of lives and property, when the need arises.

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UNODC Report: HIV Prevalence in Nigerian Prisons, Twice National Average

Ndubuisi Francis in Abuja

Although Nigeria appears to be edging closer to controlling the HIV epidemic, inmates in Nigerian prisons are two times more likely to be living with the virus than people in the community, a National HIV Assessment study conducted by the United Nations Office for Drugs and Crime (UNODC), has revealed

The study was under the leadership of the National Agency for the Control of Aids (NACA) and

in cooperation with the Nigerian Prisons Service (NPS), the Federal Ministry of Health, Heartland Alliance International and the United States Agency for International Development (USAID) and the Joint United Nations Programme on HIV/AIDS (UNAIDS).

The study which was a segment component of the broader Nigeria HIV and AIDS Indicator and Impact Survey (NAIIS), was conducted among 2,511 people in prison with the aim to provide

Moghalu Briefs EU on Nigerian Economy, Named Fellow of AIA

Emmanuel Addeh in Abuja

President of the Institute for Governance and Economic Transformation (IGET) and CEO of Sogato Strategies LLC, Abuja, Prof. Kingsley Moghalu, at the invitation of the European Union (EU) Delegation to Nigeria, has briefed the diplomatic missions of the member countries in Nigeria on the Nigerian economy.

The event which took place at the EU Mission in Abuja, was chaired by Zissimos Vergos, Deputy Head of the EU Delegation to Nigeria and ECOWAS.

reliable data on prevalence of HIV/ AIDS and tuberculosis as well as on the availability of health services in prisons.

According to the study, the prevalence in prisons was 2.8 per cent compared to 1.4 per cent in the general population.

Covering twelve prisons across the six geopolitical zones of the country, the finding indicated that HIV prevalence was more than twice higher among women (6.9 per cent).

Generally, older people are more likely to live with HIV and tuberculosis and close to one out of six women aged 45 years or older is living with HIV.

and quality of health services.

Less than 66 per cent of the respondents reported the availability of HIV testing, hepatitis prevention and treatment, sexual and reproductive health services and any harm reduction services.

Only 37 per cent of respondents were satisfied with the quality of services received at the prison health facility.

"Keeping communities at the centre of the HIV response, especially the most vulnerable and marginalised, such as people in prisons and other closed settings, is among the surest ways for Nigeria to leave no one behind in ending the AIDS epidemic as a public health threat by 2030," said Dr. Erasmus Morah.

It also dealt with foreign exchange pressures, foreign investment, manufacturing and productivity, as well as steps taken by the government of Nigeria to meet the challenges.

The former Deputy Governor of the Central Bank of Nigeria (CBN) also made recommendations on

It had in attendance ambassadors and senior diplomats of 19 EU countries represented in Nigeria –Austria, Belgium, Bulgaria, Czech Republic, Denmark, Finland, France, Germany, Greece, Italy, Hungary, and Netherlands. Others are Poland, Portugal, Romania, Slovakia, and Sweden. The event, according to a statement in Abuja, was held against the backdrop of economic reforms introduced by the administration of President Bola Tinubu and the cost of living crisis that has resulted as a consequence. Moghalu’s briefing, titled “Nigeria’s Economy in 2024: Prospects and Challenges”, included an independent assessment of the present inflationary trend in the economy.

specific steps the EU countries can take to support Nigeria’s economic recovery.

A robust dialogue between Moghalu and the European diplomats followed his briefing, the statement said.

Moghalu was also recently the keynote speaker at the LEADERSHIP Newspapers 2024 Conference and Awards with the theme “An Economy in Distress: Which Way Forward?”.

Separately, Moghalu was one of 24 distinguished Nigerians, mostly former Ministers of Foreign Affairs, retired Foreign Service Officers who served as Ambassadors, Professors of International Relations, and two retired military generals with extensive International security experience, who were inducted as Fellows of the Academy of

International Affairs, Nigeria at the Academy’s official inauguration yesterday at the Ministry of Foreign Affairs in Abuja.

The event was chaired by former Military Head of State Gen. Dr. Yakubu Gowon, while Prof. Benedict Oramah, President of the African Export Import Bank (Afreximbank), delivered the keynote address and was also inducted as Honorary Fellow of the Academy.

The Academy of International Affairs (AIA) is a private think tank founded by former External Affairs Minister, Prof. Bolaji Akinyemi. Its purpose is to provide advice to the federal government as well as insight and education to the Nigerian public, civil society and the private sector on international affairs in order to strengthen Nigeria’s standing in the world.

Among the study population, 28 per cent of women and 76 per cent of men reported that consensual sex happened while in prison, it stated.

Injecting drug use is another highrisk factor and the study estimated that 2.5 per cent of people in prisons inject drugs.

This figure was up to 25 times higher than in the general population, according to a recent UNODC survey on drug use in Nigeria.

HIV and tuberculosis prevalence differ by regions.

Prisons in the North Central region had the highest HIV prevalence (7.1 per cent) while prisons in the Southern regions had the highest positive tuberculosis cases, with 71 per cent in South-South region and 63 per cent in South-East region.

Implementing prevention interventions in prison setting appear crucial, as well as improving the availability

Underscoring the importance of the study by UNODC, Morah pointed out that, according to the new UNAIDS global AIDS update report, titled " Communities at the Centre", launched in Eshowe, South Africa on Tuesday, 16 July 2019 by the Executive Director, a.i. of UNAIDS, Gunilla Carlsson, key populations and their sexual partners now account for more than half (54 per cent) of new HIV infections globally.

Key populations include people who inject drugs, gay men and other men who have sex with men, transgender people, sex workers and prisoners. According to the report, less than 50 per cent of key populations were reached in 2018 with combination HIV prevention services in more than half of the countries that reported data.

10 WEDNESDAY, MARCH 27, 2024 • THISDAY
James in Abuja and Ebere Nwoji L-R: Deputy Manager, Sustainability, NUIMS-NNPC, Dan Roy Bako; Chief Executive, CSR-in-Action, Bekeme Olowola; Manager, Sustainability, NNPC Group, Fatima Dalhatu; Deputy Manager, Sustainability, NUIMS-NNPC, Ebitimi Tabai; and Lead Analyst, Sustainability Research/Strategy, NNPC Group, Aliyu Dikko; at the Sustainability Awareness Session for NNPC Group’s Sustainability Ambassadors, Ikoyi, Lagos... recently.
WEDNESDAY MARCH 27, 2024 • THISDAY 11

Shettima to Public Relations Experts: Reinvent Nigeria's Story with Truthful Narratives

PR professionals meet to assess communication as tool for social order

Vice President Kashim Shettima has charged public relations professionals in the country to serve as guardians of truth and national integration through effective communication in the face of a growing threat by purveyors of disinformation.

Shettima, who spoke yesterday, in Abuja, when he declared open the maiden edition of National Spokespersons Summit organised by the Nigerian Institute of Public Relations (NIPR), and the Federal Ministry of Information and National Orientation, emphasised the critical

The committee also reversed the asymmetric corridor around the MPR from +100/-700 basis points to +100/-300 basis points.

Also, while it retained the Cash Reserve Ratio (CRR) of deposit money banks (DMBs) at 45.0 per cent, the central bank however jerked up the CRR for Merchant Banks (MBs) from 10 per cent to 14 per cent, and left the Liquidity Ratio (LR) unchanged at 30.0 per cent.

The MPC decision came just as the naira appreciated on the parallel market yesterday to close at N1,350/$1, compared to N1,400 it closed on Monday.

On the official Nigerian Autonomous Foreign Exchange (NAFEM) window, the naira appreciated by N25.09 to close at N1,382.95/$1, compared to N1,408.04 on Monday.

The governor, who said the state had become something else as a result of the frequent attacks by bandits, called for more military presence and security formations in the state.

Making this disclosure yesterday while speaking with newsmen after meeting with President Tinubu at the State House, Abuja, Lawal warned that the insecurity in Zamfara portended threat to the entire north.

At the same time, the Bishop of the Sokoto Catholic Diocese, Matthew Kukah, who expressed concern over the spate of kidnappings across schools in the country, and said the abduction rate could have psychological effect on the children, has advised the federal government to start interrogating persons with claims of ties with bandits.

But the controversial Islamic cleric, Sheikh Ahmad Gumi, yesterday, confirmed his interaction with security agencies, stating that he was not only treated with courtesy during the questioning, the meeting was productive and without animosity.

The president, however, made the declaration at the State House, Abuja at a Ramadan dinner with members of the federal judiciary led by the Chief Justice of Nigeria (CJN), Justice Olukayode Ariwoola.

Reiterating the government’s resolve to defeat banditry, Tinubu said those who resorted to kidnapping children were cowards, incapable of confronting the might of the Nigerian Armed Forces.

He said: "We must treat kidnappers as terrorists. They are cowardly. They have been degraded. They look for soft targets. They go to schools and kidnap children and cause disaffection.

“We must treat them equally as terrorists in order to get rid of them, and I promise you we will get rid of them."

On the review of salaries of judicial officers, the president pledged that his administration would continue to implement necessary reforms to improve the welfare and working conditions of judicial officers.

''I recognise that the judiciary has one of the most unrewarded responsibilities. They are yet to modernise equipment and recordkeeping, and their progress towards improvement is slow.

''When you look at the career path of a judicial officer, they cannot practice the vocation for which they were trained after retirement.

role image-building and narrative construction play in maintaining social order.

The two-day summit with the theme, "Change Narrative, Change Society," which had in attendance spokespersons from both public and private sectors seeks to address the challenges of communicating in an era of information overload.

The Vice President who was represented at the event by Senior Special Assistant to the President on Media and Communications (Office of the Vice President), Mr. Stanley Nkwocha, said, "Through your commitments and sacrifices,

Daily foreign exchange turnover also increased by 10.73 per cent to $245.58 million from $221.80 million on Monday.

Addressing journalists at the end of a two-day meeting of the MPC in Abuja, CBN Governor, Mr. Olayemi Cardoso, said the decisions of the committee further underlined the urgency on the part of the apex bank to, “bring inflation under control to ensure that the purchasing power of ordinary Nigerians is restored in the short to medium term.”

This is the second consecutive rates hike by the reconstituted MPC led by Cardoso.

The latest round of policy tightening comes as a surprise to many analysts who has predicted that the apex bank would possibly hold the rates at their levels before

''While the framers of the law may have their reasons, I perceive this differently and see this from a fair compensation angle that should benefit all,'' the president stated.

Tinubu expressed gratitude to the judiciary for their dedicated service to the nation, acknowledging their role in upholding the respectability of the judicial arm of government.

"We will continue to support one another and bring Nigeria to that glorious dawn,'' the president further said.

Earlier, Ariwoola commended the president for the honour of hosting judicial officers to a Ramadan dinner, his commitment to judicial reforms, and for improving the welfare of judicial officers in the country.

"May the Lord continue to bless you and your administration. Let your ship land and berth beautifully. We shall continue to pray for your administration because there are many good things in the pipeline for Nigerians," he prayed.

He commended the administration for achieving a significant milestone by appointing a full complement of 21 justices to the Supreme Court, a feat he described as unprecedented.

Also, speaking, the Attorney-

Petroleum Regulatory Commission (NUPRC), Nigerian Nuclear Regulatory Authority (NNRA), Petroleum Training Institute (PTI), among others.

Lokpobiri cautioned against turning the event to another talk show, explaining that the targets set for the ministry by President Bola Tinubu, including ramping up crude oil output must be met and surpassed.

According to the minister, the solution to Nigeria’s economic problems in the short-term lie within the oil and gas industry, from where he said Nigeria gets up to 90 per cent of its FX earnings.

He expressed optimism that the targets set for this year were achievable and could be surpassed, given the right attitude and a conscious effort to stamp out everything that reduces competition.

“Of course, the target is very clear, and I believe that we have done it before, and I believe that we are going to do it again. When I was appointed as minister, the president

the voices of the misrepresented and the misunderstood are amplified, and the vision of a better tomorrow is brought to fruition." Shettima stressed the immense responsibility spokespersons hold as the voice of their "organisations or principals, representing their values, visions, missions, and aspirations to the public."

Cautioning against the threat of misinformation, he stated: "You are not only the spokesperson, a gatekeeper of truth, but also a defender of the public at the mercy of fake news merchants and their impressionable mercenaries.

the meeting and allow the effects of the previous policy adjustments permeate the system.

During its February 27, 2024 meeting, the first to be superintended by Cardoso, the apex bank had jolted the markets and beat analysts’ expectations when it raised the Monetary Policy Rate (MPR) by a whopping 400- basis points to 22.75 per cent, from 18.75 per cent – at a period of biting economic hardship occasioned mainly by the removal of fuel subsidy and floating of the Naira.

The bank had also adjusted the asymmetric corridor around the MPR to +100/-700 basis points from +100/-300 basis points, and further raised the CRR of DMBs to 45 per cent from 32.5 per cent as well as retained LR at 30 per cent.

General of the Federation and Minister of Justice, Lateef Fagbemi, expressed gratitude to the president for forwarding the executive bill titled: "Judicial Office Holders, Salaries and Allowances, etc, Bill 2024" to the National Assembly.

Highlighting the stagnant state of judges' salaries and emoluments since 2007, Fagbemi commended the president's courage, determination, and compassion in taking decisive action.

''It takes a man with a great heart, determination, and consideration to do what the president did. More than 300.3 per cent increase has been given to the judges. The president has done his own part, never mind that the bill is still with the National Assembly.

''In my short stay as the AttorneyGeneral, I have come to observe that anything that concerns the judiciary, you are very much interested in it, and I thank you for your abiding interest in the judiciary,'' Fagbemi further said.

Lawal: Zamfara Under Serious Siege

Zamfara State Governor, Dauda Lawal, has said hisstate was under

said to me, Lokpobiri, your number one priority is to ramp up crude oil production. That’s our number one Key Performance Indicator (KPI). The president is looking up to us to see whether we are meeting our targets as a ministry,” he added.

He stressed that if crude oil production is raised, then Nigeria will invariably raise revenue and meet all its obligations, pointing out that it would be a shame when all the refineries in the country come on stream and there is no feedstock for them.

“Part of the challenge I am afraid of is whether, even if we finish fixing our refineries, whether we will have feedstock. It will be very embarrassing that when we finish fixing the refineries in Port Harcourt, Warri, Kaduna and the Dangote refinery, Bua come on stream and a couple of multiple refineries have signed, there’s no feedstock.

“Let me also say here that I have signed a couple of modular refineries that I don’t know who

"We can never win the war against misinformation and disinformation unless our responses to them are timely and evidence-based," he warned. "You are a pillar of the nation's security framework."

The Vice President lauded President Bola Tinubu's commitment to citizen engagement, saying, "This is an invitation for you to partner with us in crafting the right narratives to change the Nigerian story and reinvent our society."

Shettima, also urged spokespersons to be inclusive, saying, "Always leave a seat empty for any group to join your table and don't treat

The MPR is the rate at which commercial banks borrow from the central bank and often determines the cost of funds in the economy, and remains a key barometer for investors.

However, Cardoso, who read the committee’s communique yesterday, said the meeting focused on the current inflationary pressures and the need to anchor inflation expectations as well as ensure sustained exchange rate stability.

He said the committee was faced with the option of either progressing with its tightening cycle or hold, to observe the impact of the previous rate hike and adjustment of CRR.

According to him, after reviewing the balance of risks and the nearterm inflation outlook, members were convinced of the need to

the siege of banditry and kidnapping, and therefore pleaded with the federal government to come to his aid.

Speaking with newsmen, Lawal said he came to brief Tinubu on the security situation in the state, because if nothing was done to arrest the situation, the whole of the north would be in trouble.

Lawal said the state had become an epicenter of banditry and had recently recorded several cases of attacks in a few local governments, despite efforts by the state to end criminal activities.

The governor said he had requested for more military personnel as well as the equipment that would enable the officers to function effectively in tackling the situation.

According to him, “There have been several attacks in some of the local government communities. I feel as a responsible governor, I should make this known to Mr. President, who is pleased with the discussion we have.

“We are looking for more military personnel as well as the equipment for them to be able to function effectively and take care of the security

Continued on page 37

their owners are. But I also want you to know, as I didn't know you before I signed your license, I don’t want to know you before I get to cancel it. I am doing it because we need to liberalise the entire process.

“Part of what we are expected to reduce bureaucracy to the barest minimum so that nobody needs to know the minister before getting documents signed. It is also our obligation to see how we can create the best environment for investors to come in,” he explained.

He noted that since the Tinubu government came in, it had embarked on a campaign to rekindle the confidence of global investors in the country, emphasising that a key mandate of the ministry is to ensure that the fiscal and regulatory frameworks are globally competitive.

“We have a couple of investments laid out this year. I'm seeing the situation where we're going to surpass the target. And we are going to surpass it. We have investments. In Bonga North alone, we have over $5 billion of investment this

anyone as inconsequential because their views don't align with yours."

He expressed hope that the summit would, "strengthen the enthusiasm of all spokespersons to bridge divides, inspire commitment, and induce actions that drive the change we desire."

On his part, Minister of Information and National Orientation, Alhaji Mohammed Idris, emphasised the pivotal role effective communication plays in shaping perceptions and fostering trust.

According to him: "Nigeria, a diversely blessed and vibrant country, grapples with the need to create

progress with the tightening cycle.

Specially, the CBN governor pointed out that members noted the continued rise in headline inflation, driven largely by food prices occasioned by supply shortages and high cost of logistics and distribution.

He said addressing food insecurity remained key to containing current inflationary pressures and therefore, called for the full implementation of the federal government’s agricultural policies and programmes to improve food supply.

The CBN further advised for broader fiscal consolidation particularly on the improvements of tax collection and tax-to-GDP ratio.

The committee particularly commended ongoing efforts of the federal government towards addressing food insecurity, including the provision of various palliatives, release of grains from the strategic reserves, distribution of seeds and fertilisers, as well as farm implements for dry season farming.

The MPC also noted with satisfaction the level of stability achieved in the foreign exchange market in the last few weeks, attributing it to the impact of the apex bank’s recent policy actions and reforms, as well as increased transparency in the market.

The committee further commended efforts of the central bank in offsetting verified foreign currency obligations, an action it believed would greatly enhance investor confidence and attract foreign investments to the country.

Furthermore, the MPC reviewed developments in the banking system and concluded that the industry was safe, sound and stable, adding that the CBN should sustain its surveillance and ensure compliance of banks with existing regulatory and macroprudential guidelines.

The MPC further urged the central bank to expedite action on the recapitalisation of banks to strengthen the system against potential risks in an increasingly globalised world.

Cardoso, however, assured that

year. There are companies that have agreed to invest this year. But we will ensure that our environment is globally competitive,” he added.

Also speaking, the Minister of State Petroleum (Gas), Ekperikpe Ekpo, noted that since the conclusion of the presidential retreat, the pivotal step culminated in the signing of a performance bond with the president.

He observed that Nigeria, endowed with over 208TCF in proven gas reserves, should not be grappling with energy poverty, noting that it was imperative for all stakeholders to collectively confront the challenges head-on.

“First and foremost, we must prioritise infrastructure development to support the exploration, production, processing, and distribution of gas. This includes investments in gas pipelines, Liquefied Natural Gas (LNG) facilities, and gas processing plants to ensure efficient transportation and monetisation of our gas resources.

“By expanding our gas infra-

Shettima

a cohesive national identity; one that transcends ethnicity, religion, and political affiliations, crafting a compelling national narrative becomes paramount as we strive to live up to our vast potential.”

the current contractionary policy stance of the apex bank may not be long-drawn out as the CBN expects moderation in inflation from May.

He said the MPC would adjust according to the response from its current intervention.

He further insisted that the apex bank had cleared all valid and verified FX backlogs inherited by the current leadership adding that about $2.4 billion remained invalid for payment.

He added that security agencies were currently looking into some of the dubious FX claims with a view to prosecuting the culprits.

He also stressed that the central bank was not oblivious of the impact of interest rate hikes on the economy adding that its successes in the moderation of FX rates was also translating in the reduction of lending rates and costs in the economy.

He said the CBN’s interventions in the FX market may be minimal or non-existent once it achieves the required stability it craves.

Further commenting on the CBN’s lifting forex restriction on dairy products and its impact on the local market, Cardoso maintained that no one should be constrained from accessing the FX market to make purchases, emphasizing the bank’s policy on openness and transparency of FX transactions.

He said, “This is a situation where as far as the central bank is concerned, we observed that it is important that our operations are as open and transparent as possible. Because it is this lack of transparency that drives people away from the market.

“Where the market feels that there's something that isn't quite right or there are distortions, there's a tendency for them to hold back. And one of our objectives, as I've said a number of times, is to ensure that we regulate the market in such a way that it is open and transparent.

“We observe that in this particular case, only six companies are allowed

Continued on page 36

structure network, we can enhance access to gas markets, stimulate investment in upstream exploration and production activities, and create new opportunities for economic growth and diversification,” he stated.

According to him, ensuring the widespread penetration of gas nationwide is essential to realising its full potential as a transition fuel, which entails not only increasing domestic gas production but also promoting the adoption of gas as a cleaner alternative for power generation, industrial processes, transportation, and household use.

Earlier, the Permanent Secretary in the ministry of petroleum, Nicholas Ella, explained that the ministry was committed to not just increasing production, but ensuring full-scale transformation within the sector. He said the retreat aimed at bringing together directors and heads of agencies was designed to strengthen synergy, promote unity and serve as an avenue for dialogue.

twelve 12 WEDNESDAY, MARCH 27, 2024 • THISDAY T I nubu: We Mu ST Tre AT K ID n A pper S AS Terror ISTS , T H e Y 're Co WA r DS Lo K pob I r I See KS r e D u CTI on of b ure A u C r ACY I n p e T ro L eu M Se CT or, eY e S $5bn I n b ong A n orTH p roje CT C bn Doub L e S Do W n on Mone TA r Y T I g HT en I ng, Ag AI n, rAIS e S M pr T o 24.75% T o Curb Inf LATI on
WEDNESDAY MARCH 27, 2024 • THISDAY 13

Ondo APC Aspirants Gear Up for April Primary Ahead of 2024 Guber Poll

Fidelis David reports that the stage appears set for next month’s a ll Progressives Congress’ primaries ahead of the 2024 governorship poll in Ondo State.

The race to the November 16, 2024 governorship election in the sunshine state is gathering momentum as all roads that lead to the election look literarily unpredictable.

For now, at least 20 aspirants of the ruling All Progressives Congress (APC) have registered their readiness to battle the incumbent governor, Lucky Aiyedatiwa, in the primary election holding next month.

Unfortunately, among all the political parties in the state, APC has more aspirants than other parties.

APC Aspirants

For now, those jostling under the platform of APC to take over from Aiyedatiwa, whose tenure ends on February 24, 2025 include former Commissioner for Finance in the State, Mr Wale Akinterinwa; former member of the House of Representatives, Hon Mayowa Akinfolarin; former member who represented the State on the Governing Board of the Niger Delta Development Commission (NDDC), Olugbenga Edema; two-time governorship candidate in the state (2012 and 2016), Olusola Oke; former Director of Finance at the Nigerian Defence Academy, Brigadier-General Olumide Ohunyeye (rtd), business mogul and incumbent Senator representing Ondo South Senatorial District, Jimoh Ibrahim.

Others include the Executive Director (Engineering and Technical Services) at Niger Delta Power Holding Company Limited, Engr. Ifeoluwa Olusola Oyedele; APC National Vice Chairman (Southwest), Isaac Kekemeke; former President of the Nigeria Medical Association (NMA), Prof. Adedayo Faduyile; Dr Paul Akintelure, Mr. Olusola Iji, Hon. Jimi Odimayo and Mr. Matthew Oyerinmade, among others.

Fears are, however, rife among the aspirants that the choice of President Bola Tinubu, who is believed to have a vested interest in who becomes the next governor, could be the deciding factor.

Lucky Aiyedatiwa

On December 27, 2023, Lucky Aiyedatiwa was sworn-in as governor of Ondo state following the death of his principal and former governor, Oluwarotimi Akeredolu and thus, by law, Aiyedatiwa is expected to complete the joint tenure of late Akeredolu and himself by February 2025.

Besides, Aiyedatiwa is also eligible to contest the November 16 governorship poll in the state and perhaps, with his ambition, he’s leaving

no stone unturned to secure the parties ticket.

No Automatic Ticket

However, The declaration by the national secretariat that there will be no automatic ticket for the governor, has also piled pressure on Aiyedatiwa, who is now seeking endorsement from the public.

Six members of the House of Representatives caucus of the APC from Ondo State recently wrote to President Tinubu about Aiyedatiwa, alleging that he was creating a crisis in the party in the state and exhibiting disdain for his late predecessor, Oluwarotimi Akeredolu.

The open letter to President Tinubu was signed by six lawmakers, namely, Adesida Abiodun Cornelius (Akure North/South), Timehin Adelegbe (Owo/ Ose), Festus Ayodele (Ileoluji-Okeigbo/ Odigbo), Ojogo Donald (Ilaje/Ese-Odo), Odimayo Okunjimi (Okitipupa/Irele), and Adegboyega Adefarati (Akoko South West/South East).

However, the lawmaker representing Ondo East/Ondo West federal constituency in the House of Representatives, Abiola Makinde in his reaction said that while there is a known aspirant among the six that wrote the letter, all of them were supporting different aspirants.

Late Akeredolu’s Wish

Besides, last Tuesday, the governor formally declared his intention to contest the governorship seat declaring that his late principal had always wished that he (Aiyedatiwa) succeeds him.

“Distinguished citizens and party faithfuls, I must re-echo what our late leader had always wished for in his life time. It was his wish that I succeed him, not in death though, as the next Governor of the State. He was a courageous and visionary leader who had no time for pretense and so he expressed this wish at different fora in both public and private.

“All was with one conviction and implicit confidence in me to carry on the torch of accelerated development which he lighted first in 2017 and later renewed under a joint ticket for both of us in the 2021 gubernatorial election.

Exploiting Akeredolu’s Name

Unfortunately, few hours after the statement, Richard Olatunde, the former Chief Press Secretary to the late Governor, warned Aiyedatiwa, to stop exploiting the deceased governor’s name for political gain.

Olatunde emphasised that both Akeredolu’s family and his ardent supporters across the state strongly object to Governor Aiyedatiwa’s deceptive tactics, stating that the narrative regarding the alleged wish of Akeredolu, for Governor Aiyedatiwa to succeed him has gone too far to be disregarded.

“This narrative began even before our leader was laid to rest. Out of respect and utmost rever-

Less than 24 hours after endorsing Aiyedatiwa’s governorship bid on behalf of Ondo State Assembly, some members of the Assembly passed a vote of no confidence on the Speaker, Hon Olamide Oladiji. The Speaker in his goodwill message, during Aiyedatiwa’s official declaration assured the governor of the support of the members of 18 out of the 26 members of the Assembly in getting the ticket of APC and winning the main election in November. However, 13 members of the Assembly, in a statement distanced themselves from the endorsement, describing the statement of the speaker as embarrassing and disappointing.

ence for our late Governor, we chose not to engage with those spreading this narrative. While we acknowledge that the political atmosphere in the state is intensifying, we want to unequivocally state that the late Governor did not anoint or express a desire for Aiyedatiwa to succeed him. On the contrary, the relationship between the late Governor and Governor Aiyedatiwa became strained and distant until his passing.

“Despite attending to official matters and meeting people from Akure, the late Governor intentionally kept Mr. Aiyedatiwa, who was the deputy governor at the time, away from him in Ibadan. Our late Governor was deeply disappointed and regretful of certain behaviours and character traits displayed by Mr. Aiyedatiwa during his health challenges, which ultimately led to his passing.

“We have also observed the circulation of a video recorded during the swearing-in ceremony of the late Governor and Mr. Aiyedatiwa as Governor and deputy governor, respectively. Undoubtedly, our late Governor had high hopes for Mr. Aiyedatiwa. The late Akeredolu never concealed his intentions.”

Vote of No Confidence

Also, less than 24 hours after endorsing Aiyedatiwa’s governorship bid on behalf of Ondo State Assembly, some members of the Assembly passed a vote of no confidence on the Speaker, Hon Olamide Oladiji.

The Speaker in his goodwill message, during Aiyedatiwa’s official declaration assured the governor of the support of the members of 18 out of the 26 members of the Assembly in getting the ticket of APC and winning the main election in November.

However, 13 members of the Assembly, in a statement distanced themselves from the endorsement, describing the statement of the speaker as embarrassing and disappointing.

The lawmakers who signed the statement include, Oluwole Ogunmolasuyi (Majority Leader), Moyinolorun Taiwo Ogunwumiju (Parliamentary Secretary), Oluwarotimi Fasonu (Chief Whip), Olajide Oguntodu (Minority Leader), Raymond Daodu (Deputy Minority Leader), and Akinsuroju Nelson, Akomolafe Temitope, Ifabiyi Olatunji, Agbulu Akeem, Christopher Ayebusiwa, Atinuke Witherspoon, Biola Oladapo and Afe Felix.

politics Acting Group Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com (08033025611 SMS ONLY ) 14 THISDAY • WEDNES DaY M a RCH 27, 2024 , 2024 NOTE: Interested readers should continue in the online edition on www.thisdaylive.com
Aiyedatiwa Akinterinwa Oke
WEDNESDAY MARCH 27, 2024 • THISDAY 15

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Poor Electricity, Water Scarcity, Harsh Weather Aggravate

Hardship for Anambra Residents

While the rest of the country is protesting about the economic hardship occasioned by rising cost of commodities, for residents of Anambra State, the hardship is further aggravated by poor electricity supply, water scarcity and the hotness of the weather, reports David-Chyddy Eleke

In Anambra, poor epileptic supply of electricity by the Enugu Electricity Distribution Company (EEDC) has remained a cause for concern to residents. Investigation by THISDAY has however shown that the poor distribution has also come with its attendant problems, like shortage of water. With public water supply being a thing of the past in Anambra, families rely on boreholes drilled in their compounds for water supply. But with the low voltage supplies by EEDC recently, many families now resort to commercial water vendors for their supply.

While most parts of Anambra have remained in perpetual darkness, other parts that are privileged to witness power supply can only get low voltage that seems far too low to power their water sumos, or any other household appliances.

The high cost of fuel and gas, have also limited many commercial water sellers from engaging in the business, making it hard for families to access water for their use. In many instances, many water vendors no longer sell water, while the few who do, sell at very exorbitant prices for containers, and in most cases are usually far aware from the residences of those who need them.

For example, in Okpuno area of Awka, most residents who live in high rise buildings, but can not afford to pump water using their private boreholes, have to rely on public boreholes, most of which are in far away locations.

A resident, Mrs Rose Obasi said: "In all the 10 years I have stayed in Awka, I have never experienced this level of suffering. Almost throughout this term, my children have been going late to school. The reason is that they wake up and go to fetch water every morning, before they can come back and prepare for school, time has already gone. The stress they undergo to take water up to the third storey building where we stay is another work. We are really suffering, and I don't know when this will come to an end.

Another resident of the area, Mrs Ifeoma Eke decried the impact of the current situation on women and children who are saddled with the responsibility of fetching water for household use.

"We now need to leave everything we have to do to go and look for water anywhere we see it. In many places, you buy it, one jerrican for 50 naira. You can imagine the impact of the stress on every family. The children are out looking for water when they are expected to get busy with their home works," Eke bemoaned.

A final year student of Nnamdi Azikiwe University, Awka, Amara Chukwudi, was full of frustrations over the situation which had made them to spend unnecessarily searching for water. "I bathed this morning with sachet water. There was light and we could not find any means of pumping water in our hostel. Remember the price of petrol is equally unfriendly. Nigeria is fast becoming unhabitable".

A mother of three, Mariam Zaidu, also shared a discomforting tale about the water challenge.

"More regrettably, this is happening at a time that heat is too much. My children could not sleep yesterday. At the same time, power supply had dropped drastically. We need urgent government intervention, honestly," she concluded.

In Onitsha, the densely populated commercial capital of Anambra State, electricity consumers have expressed worry over poor supply of electricity and called for withdrawal of licence from the power distribution firm, Enugu Electricity Distribution Company (EEDC).

Some of the consumer's who spoke to THISDAY claimed that at this critical period of economic crisis where hyper inflation of goods and services was the order of the day, EEDC has contributed in diminishing their economic fortunes through unnecessary power outage for long hours.

Mr. Oseka Ifeajuna, a businessman who owns a cold room in Onitsha an interview disclosed that Nigeria does not want to grow as an economic giant because of selfish interests of owners of power distribution firms.

He reasoned that if the Federal Government under the then President, Goodluck Jonathan had considered some foreign electricity giants,

poor electricity supply in Nigeria would have been a thing of the past.

He lamented that high cost of fuel has also contributed to downturn of his business as he has no other alternative to survive in his cold room business.

Mr. James Onyedika, a barber criticised both the Federal Government and power distribution company, EEDC for short changing Nigerians economically.

Onyedika said that the Federal Government and the EEDC were contributing to mass poverty in the country through their policies and actions.

He described the Federal Government and power distribution company as ” agents of darkness who don’t want like to exist in the country”. He said that skilled youths are being suffocated in Nigeria under the present administration.

“This government is hypocritic. They don’t want poor people to survive in this country. How can you ask people

to engage in one skill or the other, but at the end come up with one policy to cage the same people you pretend to be helping?”

He called for the withdrawal of the operating licence of EEDC, saying: ”It is highly unfortunate that a power distribution company managed by an Igbo man is contributing to poverty in the South East knowing that Igbos are industrious people who own several businesses and could be easily affected by poor supply of electricity.”

On one hand is the harsh weather condition recently unleashed upon the people. Though the hotness of the weather seems different from other years, but it is believed that the nonavailability of electricity has made it even worse.

A resident, Mr Bala Usman lamented that: "It is even worse that EEDC is denying us electricity at this time when the weather is so hot. With the level of heat we are experiencing, and nonavailability of power, I'm afraid, we're headed for the worst. Things have gone so bad, and we pray that this does not trigger a high level of emission of emotion from the people, especially with the current protest on hardship."

Some of the consumer's who spoke to THISDAY claimed that at this critical period of economic crisis where hyper inflation of goods and services was the order of the day, EEDC has contributed in diminishing their economic fortunes through unnecessary power outage for long hours

Reacting to the poor power supply, the EEDC has insisted that it has the power to supply electricity in the entire South East zone, but stated that the supply of gas has been a major challenge.

In a press release by the spokesperson of the organisation, Mr Emeka Ezeh, EEDC said: "We wish to inform our esteemed customers that the current state of power supply within its network which has resulted in a drop in supply availability is due to low power generation caused by gas constraints to the thermal generating companies.

"This situation is beyond us, and this is not peculiar to EEDC. This development has resulted in low generation, leading to a reduction in the quantum of daily megawatt hour (MWH) of energy allocated to distribution companies nationwide.

"Consequently, the Transmission Company of Nigeria (TCN), which is our primary source of power supply is constrained, as they only transmit what is generated and have resorted to System Load-shedding to forestall possible system collapse.

"This situation has equally impacted the quality of service to our customers, as we are contending with very low energy allocation wheeled to us by the TCN for distribution to our customers. A situation that has left us load-shedding available power to ensure it goes round."

Meanwhile, as things stand, with the current rate of the dollar to Naira, which has remained high, the procurement of gas supply may remain high for a long time, and this will continually affect the allocation of power to EEDC, for onward distribution to end users, a d also affect the purchase of fuel by families to power their generators.

FEaturEs Group Features Editor: Chiemelie Ezeobi
chiemelie.ezeobi@thisdaylive.com, 07010510430 16 THISDAY • WEDNES Day M a RCH 27, 2024 2024
Children returning from searching for water in Okpuno, Awka

Umar: Facilitating Trade in Katsina without Compromising Economy, National Security

As part of efforts to put an end to the menace of smuggling, the Katsina Area Command of the Nigeria Customs Service in recent times has engaged in a renewed discernible effort of aggressive anti-smuggling operations thereby tightening the state’s land borders against nefarious activities of the economic saboteurs.

The command under the stewardship of Comptroller Muhammed Umar, is deploying all necessary tools and revolving strategies to ensure that the core mandates of the Service of revenue generation, facilitation of legitimate trade and suppression of smuggling amongst others are vigorously and professionally achieved.

This is because actualising the functions of revenue generation and legitimate trade facilitation depends solely on how smuggling activities are aggressively suppressed to the barest minimum, and the synergy among security agencies operating within and outside border communities.

To substantiate this synergy, Comptroller Umar, on assumption of office on 13th September, 2023, embarked on a familiarisation tour to Governor Dikko Umaru Radda and heads of all security formations in the state where he beseeched their support and cooperation to actualise the Nigeria Customs Service's mandates in the state.

He also visited the Jibia-Magama and Jibia-Maje border Stations in Jibia local government area, Dankama border in Kaita local government and Birni Kuka border Station in Mashi local government area of the state and held interactive sessions with chairmen of the councils, leaders of various business associations, traditional and religious leaders.

This life-driving interactive session was equally held in Babban-Mutum, Kongolam, Zango and Mai’Adua border stations located in Baure, Daura, Zango and Mai’Adua local government areas where participants unanimously agreed to support the NCS in tackling smuggling and other transborder crimes for economic growth and development.

After the first-of-it-kind familiarity tour, Comptroller Umar incontinently swung into action by embarking on whirling and sustainable anti-smuggling strategies aimed at eradicating all forms of bottlenecks militating against economic development in the state in order to boost revenue generation.

His efforts in actualising the core mandates of revenue generation, facilitation of legitimate trade and suppression of smuggling and protection of the society, has made the Command to be known for not only intercepting contrabands, but also arresting and prosecuting the men behind the mask for economic prosperity.

This knack of exposing those behind the smuggling activities through strenuous operations and ensuring their timely prosecution as well as pressing for their conviction at the courts obviously become an impediment to the economic saboteurs. This led to the crippling of the smugglers’ nefarious activities in all border communities in the state.

The anti-smuggling combatant's revolving tactics, transparency and operational principles in stemming the transborder crimes being orchestrated by the criminals has led to the blockage of all the 12 border stations in the state in accordance with the Federal Government's directive on border closure.

Unarguably, trans-border crimes such as smuggling and proliferation of small arms and light weapons have been suppressed in the 12 border communities, thereby paving the way for improved legitimate trade facilitation and protection of lives and properties in the hitherto smugglers epicentres.

These frantic efforts of Comptroller Umar and the ongoing aggressive patrol by the antismuggling operation unit of the command are yielding tremendous results, and has translated into the seizure of numerous uncustomed goods or contrabands across the state.

For instance, barely six months of his stewardship, the command has intercepted

national security

369 contrabands and generated the sum of over N1.132 billion in 2023 fiscal year despite the challenges of banditry and border closure with the neighbouring Niger Republic.

The 369 contrabands seized by the command, included but not limited to used vehicles, tyres, second-hand clothing, vegetable oil, and foreign parboiled rice, with a Duty Paid Value (DPV) of N553,339,240.00 in its ongoing anti-smuggling operations across the nooks and crannies of the state.

Although the N1,132,831,484.75 revenue generated within the period under review was a shortfall from the 2023 revenue target of N1,304,548,912.93 given to the Command, it indicated an improvement in revenue by N299,110,632.35 from N832,946,852.40 revenue generated in the preceding year (2022).

Interestingly, this improved revenue represents 87.8 per cent of the revenue target issued to the command by the federal government in spite of the security challenges bedevilling the state. The Command is also ensuring compliance with the border closure directive by strictly adhering and enforcing the principles guiding it.

Speaking on the revenue generated within the period under review while decorating 30 newly promoted officers of the command, Comptroller Umar said he made significant progress in fostering synergy with other security agencies in the state for intelligence

gathering and improved operations within and outside the border corridors.

He explained that the Command has a cordial working relationship with the State Government, traditional institutions, religious leaders, border communities, and other stakeholders in the trade supply chain and would continue to facilitate trade without compromising economy and national security.

He said: “Since my assumption to office as the Customs Area Controller, the Katsina Command has continued to collaborate and develop good working relationships with the State Government, traditional institutions, border communities and other stakeholders in trade.

“The Command has made progress in fostering synergy with other sister security agencies for intelligence and enhanced operations. However, despite the challenges of banditry and border closure with the Republic of Niger, the Command’s revenue collection for the 2023 fiscal year amounted to N1,132,831,484.7 only.”

According to him, the command wouldn't have recorded the numerous achievements without the support of the Comptroller General of Customs, Bashir Adeniyi, MFR, his management team, officers and men of the Command and other Units of the Service.

However, another strategy adopted by Comptroller Muhammed Umar in suppressing the menace of smuggling is the resuscitation of the Customs Community Consultative Forum in border communities in the state.

The revitalisation of the consultative forum enabled the Service and members of border communities in the state to rub minds on sustainable ways of stemming smuggling

The command under the stewardship of Comptroller Muhammed Umar, is deploying all necessary tools and revolving strategies to ensure that the core mandates of the Service of revenue generation, facilitation of legitimate trade and suppression of smuggling amongst others are vigorously and professionally achieved

and other transborder crimes for improved economic activities.

It also served as a viable and veritable platform for men and officers of the Service to sample relevant opinions of border communities and proffer solutions which further deepened genuine economic activities across the state.

The customs community consultative forum apart from resolving issues in border communities, features periodic engagement with leaders of business associations, traditional and religious leaders within the border frontiers.

These exceptional performances of Comptroller Umar in less than six months of his stewardship, has stemmed the impunity and the flagrant abuse of the federal government policies by ardent smugglers, who used to operate at the border with dexterity and reckless abandon at the risk of officers' lives.

His achievements within a shortest period of time is testified by residents of border communities, including former President Muhammadu Buhari, traders, traditional and religious leaders. They showered encomiums on the seasoned officer with vast experience in various Customs formations, units and departments.

Former President Buhari lauded Comptroller Muhammed Umar, for vigorously promoting community inclusion in his preventive antismuggling strategy. He praised the inter-agency cooperation and collaboration, which according to him, increases the prospects of security agencies defeating criminal elements.

Buhari, who showered the encomiums on the Customs chief when he received him on a courtesy call at his country home in Daura, said Umar has greatly tackled the activities of smugglers and enhanced customs/community relationship in the state.

Speaking during the visit, Comptroller Umar said he stopped by at the former President's abode to intimate him about recent customs activities under his watch and enjoy the wise fatherly counsel from the elder statesman.

Umar told the former President that since assumption of office in the state, the Nigeria Customs Service has been enjoying cordial relationship with traditional rulers, community leaders and members of the business community in the state

For the District Head of Babban-Mutum, Alhaji Haruna Abdullahi, Umar is an astute custom Comptroller who is facilitating trade without compromising economy and national security.

He said: “This Comptroller (Umar) has proven to us that the Nigeria Customs Service personnel are not our enemies, rather they are here in Katsina to promote legitimate trade and address the issue of smuggling.”

Also, the Chairman of Jibia Local Government, Alhaji Bashir Maitan, while describing the Customs Comptroller as a unifier and a dedicated officer, urged traders and other residents of the border community to unite and work with the customs personnel for effective border management.

He said the Magama border is strategic to Nigeria Customs Service operations, and all borders around it represent a strategic gateway to not just trade and economic development but also for national security management.

On his part, a trader in Birnin Kuka border community, Ibrahim Shehu, said border communities in Katsina State now have cordial working relationships with the Nigeria Customs Service due to the unwavering commitment and determination of Comptroller Umar.

The traversing of 12 border communities in Katsina state by Comptroller Muhammed Umar, and other revolving operational strategies are yielding tremendous results because transborder crimes such as smuggling, trade of small and light weapons and importation of uncustomed goods had significantly reduced in the state.

These transformative efforts of Umar have enhanced security, improved legitimate trade facilitation and boosted revenue generation in the state without compromising economy and national security.

features 17 THISDAY • WEDNES Day M ar CH 27, 2024 2024
Comptroller Umar Francis Sardauna examines the efforts of the Katsina Area Command of the Nigeria Customs Service in facilitating trade, suppressing smuggling and other transborder crimes without compromising economy,

ProPerty & environment

Super Mall Poised to Spice-up Shopping Experience in Surulere, Lagos

Bennett Oghifo

A new shopping facility known as Super Mall is evolving in the Akerele axis of Surulere, Lagos that is set to redefine how people will meet their daily needs, including hardcore entertainment.

There is more. Investors in the Mall are sure of high returns on investment (ROI), according to the Managing Director/Chief Executive Officer, Median Infrastructural Development Company Engr. Olumide Akinsanya, promoter of the mall.

According to Akinsanya, as commercial real estate, malls have “extremely high returns, but the investment is quite large,” adding that the Super Mall is

very big, as it is a proper mall.

The Super Mall is being built where the Super Plaza used to stand. “We call it Super Mall because it has always been a center called Super Plaza. And we feel that redeveloping that into a mall becomes a Super Mall and it’s truly going to be super. The industry is waiting to be tapped, to expand.

“And what I’m happy about is the influx of what I would call the second generation of retail. This second generation of retail seems determined to stay, irrespective of the economy.

Akinsanya said malls in Nigeria are less than 20, with over 200 million people. “Nigeria can still conveniently accommodate a thousand malls without even

beginning.”

The recent upsurge and revolution in the mall industry, he said, started with the mall in Lekki, “which is quite commendable. And very few people have been able to throw their hat into the ring. While the return is good, as far as commercial real estate is concerned, the investment requirement is very huge.

“And you see very few Nigerians playing in that sector. Extremely few Nigerians play in that sector. Most of the big players are still foreigners.

“It has become extremely challenging now because of the local currency volatility. I will not say devaluation. I will say the volatility of our local currency.

“In most cases, most of the investors that partner with us are unable to take their funds out of the country. So that has made it very difficult for investments to come in, for expansions to take place. So those of us that are local players are taking the bull by the horn.

“We are Nigerians, we have nowhere to go. And we also see the opportunity in that. You know, the foreigners will not develop us.

“They will assist us, but they are here to make money too. If it wasn’t a profitable venture, you will see foreigners come here. But because it’s profitable, that’s why you see foreigners come to Nigeria to want to come and play in the retail sector.

“So now that the appetite has gone south, very low, a few of us locals, and our followers, believe that there’s only one Nigeria and we must still make things happen here. So we’ve thrown our hats into the ring. A few people like myself are still making sure that this is still happening.

“And that’s the reason why we have the Super Mall in Surulere. We’ve, on our own, taken up the Tropicana model in Uyo, Akwa Ibom and we’ve turned it around, we’ve made it what it is today. It’s been running, this is the third year. “And that shows that if that

can happen, then we can do it here. We believe that the Super Mall in Surulere will surpass that.”

He said the first generation of retail was in the days of Kingsway, Leventies, and the like. And we had them across the country. And in 1984, by the time we had the structural adjustment programme, similar to what’s happening today, everyone of them took off.

“And a generation of Nigerians did not experience what we experienced when they used to take our hand and we went for Father Christmas. We were waiting for the train ride to Father Christmas and we cried and all of that they missed.

“But they were also going abroad and were seeing malls. So by the time the first new generation mall came back, that’s about 12 years ago, if I’m not mistaken, or thereabouts, it was like, wow, that’s the ninth wonder of the world. So you could see people from Ibadan coming to Lagos just to come and see.

“That means that our population was hungry for something. We were hungry for that. And the old energy was being put into it.

“Developers were looking at it. Investors were looking into it. And this started coming up. “By 2016, there was a nose-

dive. That is quite unfortunate, but then that’s a reality. There was a nosedive from 2016. So if you look at the number of malls that sprang up before 2016 and between 2016 and now, it’s a far cry from each other. This is because of the fact that dollar investors became shy, because you cannot earn dollars in rent, but you build in dollars.

“Even when you now earn in Naira, you cannot exchange it in the official market and remit your loan back. So you are taking a dollar loan, you are earning Naira, and the Naira keeps going down, and the dollar keeps going up in terms of the value you get from it. So it’s been a struggle.

“So what we are looking at is to devise our own way of ensuring that we invest our Naira and we earn our Naira. Which is what is happening today. We have devised our model to continue to be in the market, to continue to offer people the quality that they deserve. The upside of it is the fact that the new generation of supermarkets that came in, post-2010 and the rest of it, have improved the offerings to the people. Now, every neighbourhood has one form of supermarket or another, they offer something that you can compare to what you see in the international sphere. And equally, we realised that there is also a mix.

ESVARBON Will Enforce Act for Seamless Asset Valuation, Says Fatokun

The new Chairman of the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON), Chief Dosu Fatokun has said they would enforce the Act setting up the Board to ensure there is proper valuation of assets and regulation of real estate and facility management practice in the country.

Fatokun stated this after a formal handing over ceremony by the immediate past Chairman, EVS Gershom Henshaw, in Abuja, recently.

Fatokun said he would

build on the legacies of his predecessors, and that he would “want to see whether we’re occupying, effectively, the legal space given to us by Decree 24, 1975, that is, CAP 111. That is the law that confers recognition to ESVARBON. “We are supposed to supervise, nurture a number of academic disciplines, professional disciplines. For example, property management, facility management. So, I want to see how effective we have been occupying that space. If you look at the Nigerian economy today, if there’s anything that gives us joy is that the Nigerian

Stock Exchange has been doing well since the past one year, in fact over 100% increase, look at the capitalization that’s the total investment in exchange. This total capitalization represents land and buildings, land and machinery that are invested in this economy. If you look at our setup, we have a lot to do. We cannot only value them for a number of purposes, we also have to manage them. So I want to see how far we are registering our presence in these aspects. For example, MTN went to exchange last year, the same thing with transcorp power.

Beyond Neglect: Building a Culture of Preventative Maintenance

Nigeria grapples with a persistent challenge – a poor maintenance culture. This attitude of neglecting upkeep, from public infrastructure to personal belongings, has farreaching consequences.

The Association of Facilities

Management Practitioners, Nigeria (AFMPN) calls for a collective effort to reverse this trend and build a culture of preventative maintenance. The high price of neglect, the effects of a poor maintenance culture are undeniable. Dilapidated roads lead to accidents and economic disruptions. Unmaintained buildings become safety hazards. Neglected public utilities like water and sanitation systems fail, impacting public health. The financial burden is significant – constant repairs

Lagos Charges Officers on Increased Responsibilities After Promotion

The Lagos State Government has urged Eligible Officers in the ongoing Year 2024 Promotion Exercise to be prepared for more responsibilities that are expected to come with their anticipated position.

The Chairman, Civil Service Commission Mrs. Olubunmi Fabamwo gave the advice on Tuesday at the opening cer-

emony of the physical sessions of the Year 2024 Promotion Exercise, Revised Structured Training Programme organised by the Civil Service Commission for those eligible, at the Adeyemi Bero Auditorium, Alausa Ikeja.

The chairman underscored the importance of understanding that promotions to higher Grade Levels, also comes with proportionate increase

in responsibilities, and urged the officers not to only aspire for career progression but to take cognisance of the added duties and obligations that accompany such advancement. She encouraged participants to utilise the training sessions as opportunities to hone their skills and acquire the necessary knowledge to excel in their prospective roles after promotion.

end up costing more than proactive maintenance. A Shared Responsibility Addressing this issue requires a multi-pronged approach, from government agencies to professional associations to facility managers to the general public.

Government Agencies: Government must allocate adequate budgets for planned maintenance and establish clear policies with enforcement mechanisms. Prioritizing preventative measures over reactive repairs is crucial.

Professional Associations: AFMPN, along with other professional bodies, can play a vital role in knowledge sharing and advocacy. Educational workshops and seminars can equip facility managers and the public with best practices.

Nola Mentors Entrepreneurs on Building Sustainable Business

An expert and chief executive of Veritasi Homes, Adetola Nola has mentored no fewer than 20 entrepreneurs on building sustainable businesses at an exclusive mentorship session held in Lagos. The session, aimed at empowering entrepreneurs for business growth, provided a unique opportunity for entrepreneurs to

engage in targeted conversations with Nola - who has pioneered several successful businesses.

“Entrepreneurs play a major role in building Nigeria’s economy and I am passionate about empowering them to realize their full potential,” he said.

He expressed his commitment to supporting the entrepreneurs, stating that for years now, the initiative has focused on creating

avenues for entrepreneurs to learn and share their knowledge and experiences.

“It was designed to provide a platform for entrepreneurs to openly discuss their challenges and receive practical guidance on dealing with the complexities of running a business,” he said.

“I look forward to what the participants will do with the insights they’ve gained from this program.”

THISDAY • WEDNES Day M a RCH 27, 2024 , 2024 18
Super Mall’s prototype The new Chairman, Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON), Chief Dosu Fatokun; the Vice Chairman, Pst. Stephen Jagun; and the immediate past Chairman, EVS Gershom Henshaw, during the formal handing over ceremony in Abuja… recently
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e ditor Abiodun Ajala e mail abiodun.ajala@thisdaylive.com 19 THISDAY • WEDNES Day MARCH 27, 2024 2024
Photo
L-R: Guests at a book presentation, Dr. Lance Elakama, Enakhe Abu Agbonoga, and Enakhe Stan Atekhame; the author, Abdulahi Enakhume (standing at the rear); former Minister of Environment, Abdullahi Hassan Mohammed; Vice Chancellor of Summited University, Offa, Kwara State, Alhaji R.A. Ebiti; and former House of Representatives Member, Alhaji Jide Jimoh, at the presentation of the book ‘Law of Wills and Flowers of Paradise’ at the NIIA, Victoria lsland in Lagos...recently PHOTO: DaN UKaNa Commander, Area C Police Command, ACP Ayoola Oladunni, explaining to the Lagos State Commissioner of Police, Fayoade Adegoke, and others during the commissioner’s visit to the Command on the demolition of the dilapidated police building at the Police Barracks in Surulere...recently PHOTO: LagOs sTaTe COmmaND L-R: Head of Human Resources, 9 Payment Service Bank (9PSB), Alex Ohai; Head of Sales and Strategic Partners, 9PSB, Kunle Isiaka; Head of Rosebay Schools, Mrs. Irede Daniels; Team Lead, Marketing Communications, 9PSB, Inemesit Ekong; and Group Head, Business Development and Strategy, 9PSB, Akeem Salam, during the Global Money Week Mentorship and Financial Literacy programme held at the Rosebay Schools, Lekki Phase 1, Lagos...recently L-R: Director, Family Health Department. Federal Ministry of Health and Social Welfare, Dr. John Ovuoraye; Director-General, National Orientation Agency (NOA), Mallam Issa Onilu; and Head of Advocacy Global Parenting Initiative, Dr. Isang Awah, during a parenting programme tagged: ‘Scaling Positive Parenting to Reduce Violence Against Children in Sub-Saharan Africa in the context of the Triple Threat of COVID -19, Conflict and Climate Crises’, held in Abuja...recently PHOTO: aYO aJaYi L-R: Osun State Deputy Governor, Prince Kola Adewusi; state Governor, Senator Ademola Adeleke; and the Timi of Edeland, Oba Munirudeen Adesola, during the foundation-laying ceremony of Hajj camp in Osogbo, Osun State...recently L-R: Director, Corps Welfare and Health Services, National Youth Service Corps (NYSC), Mr. Omotade Ayodele Folorunso; Chief Executive Officer, Zeenab Foods, Mr. Victor Ayemere; Director, Skill Acquisition and Entrepreneurship Development, NYSC, Mrs. Ngozi Nwatarali; NYSC Director-General, Brigadier-General Yushau Dogara Ahmed; Director, Special Duties, NYSC, Mrs. Bona Fasakin; and Director, Planning, Research and Statistics, NYSC, Alhaji Ahmed Wada Ikaka, during the 2024 NYSC SAED stakeholders’ meeting and debriefing of SAED Schedule Officers held in Abuja...recently

SONNY ARAGBA-AKPORE argues the exercise is for the good of the people

NIGERIA AND SIM CARD REGISTRATION

While some Nigerians bicker and are uncomfortable with the Subscriber Identification Module (SIM) card registration, and integration with the National Identity Numbers (NINs) it should be noted that the country is not alone in this exercise even when it appears to be a late comer.

Indeed, Nigeria is a late starter in this regard.

Although, we must admit that there have been bottlenecks and complexities dogged by inconveniences dotting the process, the exercise is for the general good of the people.

But victims of barred SIM cards seem to have

limited understanding as to why the exercise was introduced at all.

In reality, government has advanced several reasons for the exercise primarily linked to security challenges and activities of criminal elements in the society.

Financial crimes through SIM swap underlines why government imposes SIM registration to protect consumers. Kidnapping for ransom, banditry and threats to lives via telephone are also strong reasons for the exercise.

It is also means of verifying the identity of a SIM user and safeguarding both the user’s identity and mobile line from SIM related crimes.

Besides curtailing crimes, the sim registration strengthens capacity of law enforcement agencies to tackle criminal use of mobile phones by checkmating activities of criminals.

This equally helps in identity verification process and thus enables more secured transactions and interactions using mobile devices to boost confidence and participation in the digital economy.

Nigeria took a decision to go beyond just the SIM card registration but to link such SIM cards to their National Identity Numbers (NINs).

In December 2023,the regulator,Nigerian Communications Commission (NCC) ordered Mobile Network Operators (MNOs) to disconnect and bar Subscribers whose SIM cards were not linked to their NINs by February 28,2024.

By that date, no fewer than 42million subscribers were disconnected and barred from their various networks. Government took the decision of this linkage in order to minimize criminal activities and other vices perpetrated via telecommunications networks. The country occupies an unenviable cybercrime position in global crime index.

So in order to curtail and address all of these challenges, government said, register your SIM card so we know who owns which line especially now that terrorism and kidnapping for ransom have become a major revenue avenue for alleged criminals.

Barring improperly registered SIM cards was a long route taken by the Nigerian Communications Commission (NCC). Through several deadline

extensions, the integration of SIM card to NIN data began in December 2020 and was officially closed on April 4, 2022 after which MNOs were consequently directed to suspend services through one way barring to SIMs not associated with NIN with effect from that date.

An official explained that “In this regard, SIMs not associated with NINs were partially barred for outgoing calls and subsequently removed after integrating them to their NINs.”

And under the Know Your Customer (KYC) drive, quite a number of subscribers NINs were unverified against the KYC records associated with the SIM and require regularisation including subscribers with over 100 SIMs (and in some cases more than 10,000) associated with NINs that are unverified and as such the identities of the actual SIMs users cannot be ascertained.

“This has grave national security implications, necessitating the robust verification requirements and subsequent barring of these SIMs to ensure as may be required and cleanup of the sim registration database, “ another official explained. Elsewhere in the world, no one gets connected to any network on arrrival without proper documentation including biometrics, passport photos, fingerprints and others.

For instance, in major economies like the United Kingdom, the United States, Canada, Japan,China and others, no visitor gets connected to any network without proper documentation including biometric identification.

So Nigeria is not alone in the quest for proper identification of subscribers and users of telecommunications services.

African countries with mandatory SIM registration laws include Algeria, Angola, Benin, Botswana, Burkina Faso, Burundi, Cameroon, Central African Republic, Chad, Congo, Côte d'Ivoire, Democratic Republic of Congo, Egypt, Equatorial Guinea, Eritrea, Ethiopia, Gabon, Gambia, Ghana, Guinea, Guinea-Bissau, Kenya, Lesotho, Liberia, Libya, Madagascar, Malawi, Mali, Mauritania, Mauritius, Morocco, Mozambique, Niger, Nigeria, Rwanda, Sao Tome and Principe, Senegal, Seychelles, Sierra Leone, Somalia, South Africa, South Sudan, Sudan, Swaziland, Tanzania, Togo, Tunisia, Uganda, Zambia, and Zimbabwe.

Amidst the widespread adoption of this law on the continent, critics have challenged the strategy especially because it has not adequately curbed the challenges that it intends to tackle stating that the risks of SIM card registration, outweigh any possible benefits.

In South Africa, the Right2Know Campaign took telecom operators—MTN, Cell C and Telkom— to court on the transparency in handling data provided during SIM registrations. Pre-paid SIM cards are preferred by many mobile phone users. Even at that, Mobile Network Operators have adopted the KYCs module in many African countries. And the government of Nigeria has gone beyond the KYC by Insisting that all subscribers link their SIM card to the National Identification Number (NIN).

Is there any problem with this?

Many Nigerians think there is but this writer has a different opinion.

The NCC has been in the process of SIM registration since 2011 but some subscribers thought it was a huge joke until the NCC came hard on barring nearly 42million unconnected subscribers to verified NINs ,after which everyone saw the regulator as serious.

Aragba-Akpore is a member of THISDAY Editorial Board

The sharing of rice among students of Nasarawa State University reveals the poverty in the land, contends

PLIGHT OF THE NIGERIAN STUDENTS

Two students of the Nasarawa State University Keffi were trampled to death and dozen others injured when the sharing of palliatives provided by the government became deadly on Friday 21st March 2024. Bright futures smoldered painfully and prematurely as a sharing formula failed, and a stampede flared, the strongest flexing their muscle. In many ways, it was a metaphor for what Nigeria has become today—a survival of the fittest.

Students of the University had obviously got wind of the distribution and gathered to receive their portions. News of the palliative and proposed distribution had no doubt traveled from mouth-to-mouth like wildfire among the hungry students.

There were bags of rice, of course, whatever was left of what was given, given the propensity of those in power in Nigeria to help themselves first before leaving the scraps for the dogs milling around the foot of the table. There was a planned distribution point and a crowd of students was expected to gather.

So, rationally some chaos should have been expected.

Because the university, like many others in Nigeria, is porous and prone to instances of insecurity and improper identification, the ‘students’ coming for the rice would have included a healthy handful of miscreants and street urchins from the University environment. Some more unruly students would have been expected to feature heavily too.

So, some disturbances would have expected given that many Nigerians have trouble with crowding and crowd control, not to talk of historically poor crowd etiquette.

Many Nigerians prefer a free-for-all than to stand in a queue and wait for anything. The many sharp corners cut around the country have confirmed to many Nigerians that it is only crumbs that come to those who wait.

According to reports, the students overpowered the security men at the gate and broke through the venue of the sharing, resulting in a stampede.

Those in charge of the distribution could have devised other equitable means rather than let students gather in a less than dignified manner and trample each other to death. It was certain that not everyone would get the rice. So, troublemakers likely took advantage of the situation to foment trouble. In the process, bright lights were cruelly put out, breaking the hearts of many families.

Palliatives have become a thing in Nigeria because the country is struck in a rut of poverty and frustration where the only thing happening is that government policies routinely fail. Following the removal of the

fuel subsidy and the soaring costs of goods and services, palliatives were devised to paper over the cracks.

But corruption, which trails everything in Nigeria has trailed it too. Dissatisfaction has quickly followed. Early this year, primary school teachers in the Federal Capital Territory downed tools for more than a month. Their grouse was that while palliatives were given to their secondary school counterparts, they were shunned.

The conclusion from the heartbreaking tragedy in the Nasarawa State University Keffi is that Nigeria’s half-hearted measures at tackling hardship in the country is now breeding death. A window has also been opened into the incredible slug that school life has become for many students in Nigeria’s public universities.

Even before the prices of goods and services soared beyond reach, students in many universities were living from hand to mouth. Beyond having to buy usual school stuff, school, there were also the astronomical costs of compulsorily buying textbooks authored by their lecturers, and submitting assignments. Now, there is death too, stalking them, right on their campuses where their minds are supposed to be illuminated for the next stages of their life journey.

The discontent that has been swirling through Nigeria since 1999 has been especially marked in the young, who include many Nigerian students. They swelled the ranks of the EndSARS protesters in 2020. During the last general election, as the Labour Party and Peter Obi, its infectiously popular candidate, made an unlikely push for the country’s highest office, many young people, including numberless Nigerian students, were central to the struggle to liberate their country.

As things have consistently failed to look up in the country, many young people with means have fled the country, preferring everywhere else but the place they call home. While the terrifying turn of events would worry everyone in power elsewhere, those here can afford to look away.

The corridors of power in Nigeria have a history of aloofness to the plight of Nigerian students. In 2022, while Nigerian undergraduates ground out eight months of an interminable Industrial action by university lecturers, many members of the government saw nothing wrong in picking up nomination forms of the All Progressives Congress, with each valued at over a million Naira.

It is doubtful that the deaths in NSUK will cause any seismic changes in the course of events in the country. Beyond perfunctory and even hypocritical memorials and boring speeches, it is doubtful that serious attention will be given to the dead.

While Nigeria marks several more gravestones as stations in its improbably sorrowful journey, may the families draw what little comfort they can from the fact that their children died not as perpetrators of the crimes Nigeria has foisted on people, but while seeking food to keep body and soul together.

3 THISDAY WEDNESDAY MARCH 27, 2024
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20

Email peter.ishaka@thisdaylive.com

THE NIMC AND DATA PROTECTION

The data breach must be investigated and the culprit brought to justice

In the wake of public anxiety over the security of personal information of enrolees, the National Identity Management Commission (NIMC) last week ordered an investigation in respect of allegations of unauthorised access to the personal data of citizens in the commission’s database. “NIMC reaffirms its unwavering dedication to safeguarding, securing, and responsibly managing the data entrusted to us,” the NIMC director general and chief executive officer, Abisoye Coker-Odusote said. But only after a private company was revealed to be selling the personal data of Nigerians online.

We may need to remind the NIMC that every country is now mindful of how to protect information that could compromise the security of their citizens and when such is breached, they make efforts at damage limitation. That we don’t see such seriousness in our country is where the problem lies. In 2011, for instance, there was a publication on the internet of the names and personal details of some 60 agents of Nigeria’s State Security Service (SSS), including that of its then Director General, Ekpenyong Ita. The leaked details included mobile phone numbers, contacts, and bank account numbers. Nobody was held to account for that serious national security breach.

being fingered.

The NIMC scandal is a serious national security breach that should attract the attention of the Presidency

Perhaps of all the interests at stake in the governance of the digital world, the right to privacy is of utmost importance. Article 17 of the International Covenant on Civil and Political Rights declares that no one shall be subjected to arbitrary or unlawful interference with his privacy, family, home, or correspondence. It is a fundamental right enjoyed by all members of the human community. Yet, according to reports, the National Identity Numbers (NINs) of more than 100 million Nigerians and other personal data may have fallen into wrong hands. A shadowy organisation, XpressVerify.com, which is not one of the commission’s licensed partners, is

Letters to the Editor LETTERS EDITORIAL

The anxiety is being heightened by fear of possible misuse of personal details of Nigerians by unauthorised persons. Indeed, the fear is that this sensitive information could fall into the hands of criminals and fraudsters, including ‘Yahoo boys,’ who are notorious for committing all manner of crimes, like identity theft and bank frauds. These are facilitated through the use of the internet. Such personal information details in their hands will be boon to their criminal businesses. Over the years, these fraudsters have wrecked many individuals and groups in society by taking advantage of the rise in online transactions, e-commerce, and the electronic messaging system to commit various crimes. The NIN is more like the DNA of an individual. There are no two persons with the same set of fingerprints, palm prints, or retina in the world.

In recognising its importance, the Central Bank of Nigeria (CBN) had in 2014 introduced the Bank Verification Number (BVN) policy to all commercial deposit banks across the country essentially to check identity theft in the banking system. The CBN has also mandated all bank customers to link their NINs and BVNs to their bank accounts and ordered some restriction on those who did not comply since March 4 this year. Besides, in the last few months all the telecoms’ networks have also directed all their clients to link up their Subscribers Identification Module (SIM) cards with their NINs. It is largely to aid national security. Many of the unregistered SIMs are reportedly among those being used for fraudulent activities, including kidnappings. What all these efforts at data gathering presupposes is that Nigerians can trust the agencies concerned with their personal details.

The NIMC scandal is a serious national security breach that should attract the attention of the presidency. There is need for a serious investigation to unravel what happened and who to hold accountable.

Letters in response to specific publications in THISDAY should be brief (150-300 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (750- 1000 words). They should be sent to opinion@thisdaylive. com along with photograph, email address and phone numbers of the writer.

NASIR RUFAI'S NEW POLITICAL MOVEMENT

Nasir El-Rufai, former FCT minister and the immediate past governor of Kaduna State has remained silent since he left office last year. His failure to scale the screening of National Assembly as ministerial nominee has further alienated him from the Tinubu's government. It could be recalled the upper chamber which initially screened El-Rufai later rejected him citing security report against the former governor. But El-Rufai was unmindful of the appointment. When his name was featured prominently in ministerial list, it seemed, he had plan to go back to school. No wonder, he remained quiet as Nigerians missed his voice when the government he helped to install pursues some policies believed to be harsh. One must have expected El-Rufai to comment on some vexed national issues as fuel subsidy removal and the floating of the naira. These twin policies have caused untold hardship to Nigerians. Surprisingly, in a dramatic twist, El-Rufai has suddenly resurfaced, albeit controversially.

It started with his visit to the National headquarters of Social Democracy Party (SDP). He also hosted National Security Adviser Nuhu Ribadu in his house. In a quick succession, he paid another visit to the suspended Bauchi Senator, Abdul-Ningi. These series of visits have elicited suspicions from political analysts. Daniel Bwala, former spokesperson of Atiku/Okowa 2023 campaign organization stated that El-Rufai is planning to decamp to SDP and challenge Tinubu in 2027 general elections. However, Muyiwa Adekeye, spokesperson for the former governor, says the recent visit of his principal to the headquarters of the SDP in Abuja was without any political colouration. Besides, others speculate that the former presidential candidate of Labour Party, Peter Obi is being tipped as another possible decampee to the third force being mulled by Nasir Rufai.

While 2027 general elections is still far away, El-Rufai strategic meeting is still fishy. As the saying goes, there is "no smoke without fire". El-Rufai is one of the best brains

the country can parade. He came to limelight in 1999 when President Olusegun Obssanjo appointed him as Director General, Bureau of Public Enterprises. Under the Obasanjo privatization policy , El-Rufai supervised the sales of hundreds of public companies . During his stint as FCT minister, he spearheaded the transformation of the federal capital, and stepped on toes of some powerful forces.

Will El- Rufai’s third force dislodge Tinubu in 2027? In politics, nothing is impossible. If El-Rufai decides to ditch APC, it may not be unconnected with the humiliation he suffered during his screening in the senate and the inability of President Tinubu to save his head. In addition, El-Rufai may have been disappointed by Tinubu's administration policies and programs which generated discordant tunes among Nigerians.

Ibrahim Mustapha, Pambegua, Kaduna State

4 THISDAY WEDNESDAY MARCH 27, 2024
T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITOR WALE OLALEYE MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN THE OMBUDSMAN KAYODE KOMOLAFE T H I S D AY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, 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 21

Whitney Adeniran’s Death: Stadium Rented by Chrisland

Aprosecution witness in the Lagos government’s case against Chrisland School says the stadium the embattled school rented lacked emergency facilities.

A government official, Mr Jubril Yakubu, told the Ikeja Division of the Lagos High Court that “there was no need for it (the emergency facility)” during the ongoing trial of some Chrisland personnel.

The Lagos government alleged the school and the staff of negligence over the death of a student,

Reprieve came to the way of a security guard, Mustapha Muhammed, charged with the murder of a labourer, Victor Amussu, as he was discharged and acquitted by the Ikeja Division of the Lagos High Court.

Muhammad has been in prison custody since 2021.

Delivering judgment, Justice Oyindamola Ogala noted that the prosecution did not prove the murder charge beyond a reasonable doubt.

On October 14, 2021, at No 8/10 Rasaq Tayo Street, Ikorodu, Muhammad was alleged to have killed Amussu with a kitchen knife.

The judge highlighted elements

Whitney Adeniran, during an inter-house sports competition that was held at the Agege Stadium.

The government had filed a criminal charge against the school, its principal, vice principal and two others for the death of Whitney on March 31, 2023.

However, during cross-examination by the third defendant’s counsel, Mr Olukayode Enitan (SAN), the third prosecution witness, a deputy director with the Laogos Ministry of Youth and Social Development, Yakubu told the court that the government owns the sports facility.

When asked if establishing and ensuring proper

that must be present before a plea of self-defence can avail the defendant, including that “there must be reasonable apprehension of death or grievous harm” and that “it was necessary to use force at that time.”

The judge added that the force used by the “defendant must be proportionate to the force used or imminently threatened against him and reasonable in the circumstance.”

Justice Ogala explained that one element of self-defence is that the force used by the defendant must be proportionate to the force used or threatened to be used in the circumstance.

She said in the instance of the case, the deceased and the defendant both received stab wounds and that the defendant’s testimony was also that Amussu pinned him down while the deceased assaulted and stabbed him.

The judge noted that the prosecution, however, failed to offer any credible evidence regarding the proportionality of retaliatory action in the light of the defendant’s danger and fear.

The judge said the court believes that from the facts presented before it, there was indeed a threat to the life of the defendant and the said threat was met with the necessary,

medical facilities to treat emergencies was part of the work of the Lagos sports commission, he responded, “No.”

Earlier in the cross-examination, he was asked to read the Official Gazette of Lagos State No. 9 volume 50, which was admitted as an exhibit. He said the law of Lagos created the commission, noting that law No. 4 states the commission’s function will be to establish and maintain clean fields and premises for holding sports competitions, marches, etc.

Yakubu admitted that Agege Stadium is one of the recreational centres.

reasonable, and commensurate retaliation by the deceased, which unfortunately led to the death of the deceased.

She said the court found that the plea of self-defence would avail the defendant and “so holds.”

The judge also said the court found that the prosecution had not proved its case against the defendant. Subsequently, Justice Oyindamola, after citing various authorities, declared the defendant not guilty of the one-count charge of murder.

The judge acquitted Muhammad and ordered that the defendant be released from prison custody.

In his testimony, Yakubu told the court that he had an official meeting in 2023 with Chrisland School personnel and added that there were minutes and video recordings of what happened in that meeting.

After listening to his evidence, with the agreement of counsel to all parties, Justice Ogala adjourned further proceeding to April 18, 2024.

Whitney, a JSS 2 of the elite school, was allegedly electrocuted during the school’s inter-house sports held at Agege Stadium on February 9, 2023.

Whitney’s father accused the school management of negligence that led to the untimely death of his daughter, who left home that day hale and hearty.

and conspiracy to launder funds obtained through unlawful activity.

The prosecution counsel, Suleiman, told the court that the duo of Adekunle and Ayodeji, along with Odunayo Rashidat Popoola (at large) and Afolabi Olushola Sunday, aka ‘Asiwaju Something’, who was also at large between September 21, 2023, and October 4, 2023, in Lagos, conspired. They were said to have committed a felony: transferring property derived from an illegal act, to the tune of N2,737,784,800.00, from the unlawful activity of

Wale igbintade

The Standards Organisation of Nigeria (SON) has arraigned two businessmen, Afam Ike and Steve Onyechi, at the Lagos Division of the Federal High Court. They were accused of conspiracy to repackage and sell counterfeit X-Pression hair extensions/attachments.

The duo were arraigned on charges of repackaging, dealing in and possessing counterfeit hair products.

The prosecuting counsel, Yusuf Lawan, said the defendants, traders at Balogun Market, Lagos Island, were arrested with fake ‘Rich Braid’ brand of X-Pression

Afolabi Olushola Sunday to disguise its illegal origin.

Akeem Adekunle, sometime in June 2023 in Lagos, persuaded “one Esther Titilayo” to open an Access Bank account to promote Afolabi Olushola Sunday in carrying on with Stealing,” EFCC alleged.

They pleaded not guilty to the three counts charge.

Following their plea, the prosecution counsel, Suleiman, prayed the court for a trial date and urged the court to remand the defendants in prison custody pending the

determination of the charge.

However, the first defendant’s counsel, Grace Adenubi, prayed for the case to be dismissed so that she could file a bail application, which the court declined.

The second defendant’s counsel, Catherine Nwagbara, has yet to file bail applications. She prayed for a short date for her to file and serve the prosecution with the bail application.

Justice Ijelu adjourned the case for trial until May 6, 2024, and ordered the defendants to be remanded in prison custody.

productions on December 2, 2022.

Yusuf, an assistant chief state counsel in the Federal Ministry of Justice, said the defendants imprinted a false X-Pression (Rich Braid) trademark on the counterfeit extensions. He said the aim was to deceive buyers into believing that the products were genuine attachments.

The defendants pleaded not guilty to the charge.

Justice Ogazi granted them bail for N1.5 million each with two sureties, who must be senior civil servants or land owners.

Justice Friday Ogazi adjourned the case until July 3, 2024, for trial.

Wale igbintade

Justice Akintayo Aluko of the Federal High Court in Lagos has recused himself from hearing multiple suits filed by factions of the Incorporated Trustees of the Divine Homes Residents Association (ITDH) Lekki, Lagos.

Justice Aluko withdrew from hearing the suit following an oral application made by counsel to one of the parties, Chief Abdullai Tony Dania, asking the judge to recuse himself from the matter.

At the resumed hearing suit numbered FHC/L/CS/642/2022, between Tunde Adisa Friday vs Incorporated Trustees of the Divine Homes Residents Association, and FHC/L/CS/1136/2023, between Honourable Uche Nwabuze Vs. Tunde Adisa Friday, respectively, Chief Dania alleged that the judge was biased against his clients.

He argued that even if the court wants to investigate the capacity of counsel to represent the parties, it should be at the time of filing the suit in June 2023 and not the updated status of the Incorporated Trustees of the Divine Homes Residents Association in 2024, more so when the same suit is a substantive issue pending before both Justice Lifu and

B RIEFLY

Justice Lewis-Allagoa, both of the Ikoyi Division of the Federal High Court. Dania further informed the court that there was no suit before the court when the judge delivered Judgment on the suit on January 5, 2024, even though the suit was originally assigned to a substantive judge, but that Justice Aluko heard the matter on January 5, 2024, as a vacation judge, whereas, there was no urgency in the case.

However, Barr Daniel O. Yeri, who announced an appearance for the same ITDH, vehemently opposed Dania and urged the court to go on with the business of the day, which was the hearing of all applications before the court.

Yeri also informed the court that he had filed Form 48, contempt of court, against Dania and his clients. He submitted that members of the BIT-DHRA BOT who briefed Dania had been suspended and removed because they lacked the authority to brief Dania as members of the OT of IT-DHRA.

Ruling on the issue, Justice Aluko, after taking submissions from counsel, recused himself and ordered that the case files of the two suits be returned to the administrative judge of the Federal High Court for re-assignment to another judge.

Lagos Judges Embark on One-Week Easter Break

The Chief Judge of Lagos State, Justice Kazeem Alogba, has announced a one-week Easter break for judges from March 29 to April 5.

The court will resume work on April 8.

The announcement was made in a public notice signed on his behalf by the Chief Registrar of the Lagos Judiciary, Tajudeen Elias.

The statement said, “Arrangements have been made for urgent cases during the Easter vacation as each judge shall deal with all urgent applications related to any substantive case already assigned to him/her. “Any urgent application (the substantive cause of which has not already been assigned) will be dealt with by the judge to whom the application is specifically assigned.”

Crime&Punishment
Emergency Facilities,
Court Remands Businessmen over Alleged N2.8bn Money Laundering SON Arraigns Traders for Counterfeiting Hair Extension Court Acquits Security Guard of Murder, Says He Killed in Self-defence Judge Recuses Self from Estate Excos’ Suit Two businessmen, Akeem Adekunle and Kayode
to
prison custody for alleged conspiracy and money laundering of N2.8 billion. Justice Ismail Ijelu of the
Division of the Lagos High Court, on Monday, ordered that the defendants be remanded in a correctional facility following the arraignment by the Financial Crimes Commission (EFCC).
an amended
charge bordering on laundering funds
Lacked
Official Tells Court
Olusola Ayodeji, have been ordered
be remanded in
Ikeja
The EFCC arraigned them on
three-count
THISDAY • Wednesday, m a rC h 27, 2024 22

Amid MPC Tightening Stance, Currency in Circulation Hits Historic N3.69tn

Kayode Tokede

Amid the aggressive tightening stance of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), currency in circulation reached historic high of N3.69 trillion February 2024.

This represents an increase of N43.07 billion or 1.18 per cent Month-on-Month (MoM) from N3.65 trillion reported in January 2024, and N443.38 billion or 13.64 per cent Year-on-Year (YoY) from N3.25 trillion reported February 203.

Currency in circulation refers to the amount of cash–in the form of paper notes or coins–within a country that is physically used to conduct transactions between consumers and businesses.

The CBN in its latest money and credit statistics, revealed that currency in circulation closed December 2023 at N3.65 billion from N1.39 trillion reported January 2023.

When the CBN governor, Mr. Olayemi Cardoso resumed office September 2023, currency in circulation sttod at N2.76 trillion and it added N892.01 billion to close last year at N3.65 trillion.

The apex bank in November 2023 had said the old naira notes will remain legal tender beyond December 31, 2023 — and no longer have a deadline.

The money and credit statistics also revealed that currency outside banks as of February 2024 stood at N3.41 trillion, representing a growth

of N130.54 billion or 3.98 per cent from N3.28 trillion reported by the CBN in January 2024.

Analysts attribute the spike in currency in circulation to fear factor of cash crunch of 2023, among other factors.

Speaking, the Vice President, Highcap Securities Limited, Mr. David Adnori, stressed that bank customers are still confused over the administration of physical currency in Nigeria.

Commenting, the Chief Operating Officer of InvestData Consulting Limited, Mr. Ambrose Omordion said the spike in currency outside the bank is vastly because of the spill over effect of the cash crunch and that average Nigerians are hoarding the new notes and are not depositing

Nume Ekeghe

In a bid to bolster cybersecurity measures within the banking sector, the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN), has urged banks to establish an assurance community comprising Information Security, Internal Audit, Internal Control/Systems Control, Compliance, and Risk Management departments.

This recommendation was made during ACAEBIN’s Annual General Meeting and Retreat

held in Abuja, as detailed in the communique issued at the conclusion of the event.

Themed, “The Role of the Internal Auditor in Promoting Stability in the Financial Services Sector and National Economic Growth,” the weeklong retreat saw a gathering of industry stakeholders keen on addressing challenges and exploring opportunities within the banking sector.

Notable discussions included the implications for the economy and the Central Bank of Nigeria

(CBN) efforts to stimulate economic growth in line with the mandate of President Bola Ahmed Tinubu’s administration’s economic objectives.

Chairman of ACAEBIN, Prince Akamadu, highlighted the timeliness of the conference theme amidst the economic challenges facing Nigeria. He emphasized the pivotal role of the banking industry and the proactive stance required from members of the third line of defense, particularly the Internal Audit Function, in supporting the Central Bank’s

in the banks because of distrust in electronic banking. He said: “The increase in currency outside the banking system is something that is expected largely because of how the naira redesign policy was implemented. An average Nigerian recall what we suffered and because it was suspended till December, a lot of people are preparing themselves for what would happen in December and most people are hoarding the new notes.”

Also, he noted that because Nigeria recently had an election, there are a lot of funds still circulating in the economy and that confidence in electronic banking has not returned to pre-policy.

While there has been a significant

initiatives.

Speaking with journalists during the Conference, the Chairman of ACAEBIN, Akamadu, explained that the conference theme “resonates deeply with the challenges and opportunities the banking industry is currently facing and by extension the economy.”

He said, “The past one year has witnessed a series of challenges in our economy which has impacted the living conditions of the generality of Nigerians and the banking industry is at the centre

surge in the currency in circulation, the country’s economic growth has been tepid, with Nigeria’s economic growth rate for 2024 projected to be around 2.9per cent and 3.1per cent, having one of the slowest growth rates in West Africa.

Inflation has been a significant concern, with the headline inflation rate jumping 31.70per cent in February 2024 from 29.9 per cent reported January 2024, according to the National Bureau of Statistics (NBS). At the CBN’s second Monetary Policy Committee (MPC) meeting in 2024, the monetary policy rate (MPR) was increased by 200 basis points, elevating it to a historic high of 24.75per cent to combat inflation and foster economic stability.

This pivotal adjustment signifies a major shift from the previous rate of 18.75per cent, which had been in effect since the MPC’s meeting on July 24th and 25th, 2023.

The announcement, made by CBN Governor, highlights the central bank’s proactive approach towards monetary tightening amidst challenging economic conditions.

This unprecedented move has not only set the MPR at its highest level to date but also reflects the CBN’s determined effort to address the persistent economic pressures.

The decision has garnered praise from the International Monetary Fund (IMF), which commended the MPC’s resolve to tighten monetary policy further by increasing the policy rate to 24.75 per cent.

of the developments. As members of the third line of defence (the Internal Audit Function), we are expected to be proactive in our approach and support the efforts of the Central Bank of Nigeria in addressing the current challenges in the financial sector. For us to continue to play our part as valued stakeholders, it is pertinent that we take a critical look into the future and equip ourselves with those critical skills and resources that would enable us to perform our functions well, not just as gatekeepers but also as valued

advisors to our organisations and the industry at large.”

Akamadu underscored the importance of equipping banking professionals with essential skills to serve as both gatekeepers and advisors.

He further addressed the critical role of the banking sector in Nigeria’s economy, noting the retreat’s contribution to discussions on addressing foreign exchange challenges and curbing fraudulent activities through enhanced Know Your Customer mechanisms.

BUSINESS WORLD Group Business Editor Eromosele Abiodun Email oriarehu.eromosele@thisdaylive.com 08056356325
23 RATES AS AT M AR ch 26,2024 MONEY MARKET REPO S & P INDEX S & P INDEX EXCHANGE RATE OPR 11.25% CALL 19.12% INDEX LEVEL 611.31% 1/4 TO DATE -0.07% N795.28/ 1 US DOLLAR* OVERNIGHT 11.50% 1-MONTH 16.25% 1-DAY 0.03% YEAR TO DATE 0.48% *AS AT M ONDAy, J ULy 24, 2023 3-MONTH 15.75% MONTH-TO-DATE -0.7% ACAEBIN Advocates Collaboration among Banking Departments to Enhance Cybersecurity BONDS DESCRIPTION Price Yield Change (%) Updated Time ^13.53 23MAR-2025 94.69 19.68 0.02 March 26, 2024 ^12.50 22JAN-2026 90.26 19.02 0.49 March 26, 2024 ^16.2884 17MAR-2027 92.30 19.83 0.00 March 26, 2024 ^13.98 23FEB-2028 84.26 19.95 0.01 March 26, 2024 ^14.55 26APR-2029 85.19 19.23 0.00 March 26, 2024 Market data a s at t uesday, March 26, 2024 BILLS MATURITY Discount Yield Change (%) Updated Time NTB 11-Apr24 13.00 13.07 -0.01 March 26, 2024 NTB 9-May24 14.20 14.45 0.00 March 26, 2024 NTB 6-Jun24 16.25 16.79 -0.01 March 26, 2024 NTB 11-Jul24 15.10 15.80 -0.01 March 26, 2024 NTB 8-Aug24 15.50 16.44 -0.01 March 26, 2024 OTC FX FUTURES CONTRACT TENOR (MONTH) Contract Current Rate ($/₦) Updated Time 13M NGUS MAR 26 2025 –March 26, 2024 14M NGUS APR 30 2025 –March 26, 2024 15M NGUS MAy 28 2025 –March 26, 2024 16M NGUS JUN 25 2025 –March 26, 2024 17M NGUS JUL 30 2025 –March 26, 2024 CP S MATURITY Discount Yield Change (%) Updated Time LFZc cP IV 16-APR-24 20.96 21.22 0.00 March 26, 2024 MTNN cP VII 14-MAy-24 18.64 19.11 -0.01 March 26, 2024 UNcP cP VI 20-JUN-24 18.44 19.28 0.00 March 26, 2024 DUFIL cP III 25-JUL-24 18.53 19.74 -0.01 March 26, 2024 FDhc cP VI 2-AUG-24 16.49 17.51 -0.01 March 26, 2024 THISDAY • W EDNESDAy, M A Rch 27, 2024

Akinjo: Government Needs to Prioritise Development Efficient Ecosystem that Supports Infrastructure Financing

In this interview with Ugo Aliogo, Head of Infrastructure Fund and Senior Vice President, Coronation Group, Oladele Akinjo, stressed the need for government to prioritise the development of an efficient and robust ecosystem that supports infrastructure financing and development in Nigeria. He also speaks on how the Coronation infrastructure fund can support the government’s effort to bridge infrastructure deficit and the role of private sector investment. Excerpts

We will like to start by asking you to tell us about you and what you do at Coronation Group

My name is Oladele Akinjo. I am the Head of Infrastructure Fund at Coronation. I am also a Senior Vice President within the Group.

Can you tell us the primary reasons why governments alone cannot bridge the infrastructure deficits in Nigeria?

Well, you only have to look at the statistics. For instance, if you look at the National Integrated Infrastructure Master Plan (NIIMP), as a country we are required to spend about $2.3 trillion, translating to $150 billion per annum, between 2020-2043. That is a significant amount of capital expenditure that is required to bridge infrastructure deficits. Of course, we know governments alone cannot fund this. The allocation for capital expenditure was about N7.23 trillion down from N7.9 trillion in the 2023 budget. There are several reasons why government alone, and I am not sure there is any country globally, where government alone finances infrastructure. Quite the contrary, if you look at advanced countries and market-based economies, infrastructure development is led by the private sector from ownership to financing to operatorship. But to answer your question, our biggest challenge is scarce resources. The government resources are constrained and while this administration is taking all the right measures to address this, it will take time before we start seeing the positive impact of these measures. It means that the private sector must step in, now more than ever in complimenting the government’s efforts, not only in bridging infrastructure deficits, but ensuring that there is an integrated and comprehensive effort to compliment a lot of the ongoing policies and initiatives of the government. As a strong member of the organized private sector, Coronation has and will continue to support the government’s efforts. Through the launch of our infrastructure fund, we hope to play an even more important role in supporting the government’s efforts to bridge the infrastructure deficit in Nigeria.

Is there a role private sector investment can play in supplementing the government’s efforts to bridge the infrastructural deficit?

The role of private sector cannot be over emphasized especially because Nigeria is a market-based economy. There are several roles that the private sector can play. For example, the pension funds represent a significant pool of liquidity providers who have and will continue to provide funding for infrastructure development through infrastructure fund managers like Coronation Infrastructure. There are also infrastructure managers like Coronation Infrastructure Fund and private equity funds who mobilise both local and international funding for investment in infrastructure projects. In the last 6-7 years, a number of private sector players and initiatives from infrastructure fund managers to infrastructure credit enhancement agency have played a critical role in this regard. In addition, private sector participation allows for risk sharing, particularly under a PPP model, with the government. As private sector participant, we bring our expertise to bear in identifying, mitigating and derisk project risks. We also ensure project bankability, which hampers a lot of private sector investment particularly in sub-Saharan Africa. So, from capital mobilisation to risk sharing, bringing our expertise to bear in ensuring project bankability, the private sector has a lot of role to play in infrastructure development in Nigeria.

Are there specific policy measures that governments can implement to create conducive environment for private sector participation in infrastructure projects?

We cannot overemphasize the role of the right policies and a sound regulatory environment. For example, we have seen how the Pension Reform Act of 2004, which introduced the contributory pension scheme, has transformed the pension funds in Nigeria. The Pension Fund Administrators are now one of the largest sources of funding both for the private sector and the government in infrastructure financing. You see that by just that policy, the government has been able to transform that sector and mobilize private sector funding in a way that can be deployed into infrastructure and other spaces.

What I think the government needs to prioritize is the development of an efficient and robust ecosystem that supports infrastructure financing and development in Nigeria. This policy could be in the form of an efficient PPP law and framework, further deepening of the rule of law and sound administration of judgment, empowering the private sector to originate and develop infrastructure projects as it relates to the government

plan such as the NIIMP. This government can do this by setting up project bankability funds and other incentives to drive private sector participation in this space. Furthermore, we want to see more of policies such as the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme across other sectors. These are just some of the ways the government can deepen private sector participation in bridging the infrastructure deficits in Nigeria. We also look forward to government support in deepening our capital markets especially as it relates to secondary market trading for long-term debt instruments such as the infrastructure fund.

Can you elaborate on the potential risks and opportunities associated with investing in infrastructure, particularly in the current economic climate?

There are risks inherent in virtually every investment you make. Here at Coronation, our job is to articulate as comprehensively as possible short to long-term risks and proffer mitigations for our customers. As with every environment, there are a number of risks when you are investing long term in infrastructure projects. Market risk is one of them as we have seen changes in the global economy over the last three, four years. And that is not limited only to Nigeria, it is across the world. So, for us as an infrastructure manager, a major part of our investment process is the level of due diligence we carry out for every investment as we try to articulate as much as possible all the risks that are inherent in that project and in the sector as well as the country that we would be investing. We try to develop a robust due diligence framework that cuts across market risks, political risk, demand risk and foreign exchange risk, socio-political risk, business, finance risk and so on. As an infrastructure manager, our job is to articulate these risks. Profile mitigations to them and ensure that we create processes and legal framework to protect us and our investors if the risk ever crystalise. We heard of the launch of Coronation Infrastructure Funds, what is it about, and what has motivated its launch at this particular time?

Our mantra here at Coronation is to create a legacy of sustainable wealth in Africa. We recognize that infrastructure plays a critical role in economic development. So last year, we decided to set up a N200 billion infrastructure fund. It is specifically a fund that targets investments in six sectors. And these sectors we call it Trust with an E. The sector includes Telecommunication, real estate, utilities with a special focus on water and waste infrastructure,

social infrastructure, transportation, and energy. These are sectors that are critical for galvanizing economic prosperity anywhere in the world. The idea for us at Coronation Infrastructure Fund is one, to complement the effort of the government in bridging the significant infrastructure deficit that we see in the market, but also create an attractive asset class for investors to desire stable, long-term investment over a long period of time. Inflation has been a major issue, globally not just in Nigeria. Savvy investors are therefore looking for alternative assets that they can invest that guarantees them stable return over a long period in a manner that allows them to outperform inflation. That is the opportunity we are offering investors by inviting them to participate and invest in Coronation Infrastructure. It is a great opportunity for investors who want to help build infrastructure, empower communities, create jobs while earning stable and attractive return over a long period of time.

Given the growing interest in infrastructure investments, how will the Coronation Infrastructure Fund differentiate itself in the market and create value for investors?

Coronation, as a Group, is one of the most diverse financial services groups in Nigeria today. Our offering cuts across insurance to stockbroking, capital market, as well as banking. We are promoted by one of the most accomplished business leaders in Nigeria, Mr. Aigboje Aig- Imoukhuede. We have a dedicated board and investment committee members who have over 100 years of combined experience in investing in and managing infrastructure projects globally. We also have one of the most effective corporate governance in Nigeria as evidenced by our A rating from Agusto and GCR as an investment manager. We strongly believe that these unique qualities set up apart in how we source deals, identify opportunities, finance projects and management of our portfolios. We have also developed a pipeline of strategic partners to enable us to find the right transactions to finance and derisk our portfolios where necessary. Investors can rest assured that our track record as an investment manager puts us in a unique position in how we manage their fund especially when it comes to risk management, deal structuring and financing as well as portfolio management.

Are there specific sectors or types of infrastructure projects that Coronation Infrastructure Fund is targeting and what factors will influence your investment decisions in these areas?

We prioritize investment in the T.R.U.S.T.E sectors: Transportation, Real Estate, Utilities (with emphasis on Water and Waste Infrastructures) Social Infrastructure, Telecommunication and Energy Sectors. These are the sectors that we think play an important role in the economic development of our country and poised for significant growth over the next few years. However, beyond these sectors there are several other considerations we bring to bear before we invest including understanding the critical problem your company/project is trying to solve, track record and experience of promoters and management, all other issues around project bankability. We also assess your policy around Environmental, Social and Governance (ESG) framework. How are you operating and how do you deal with the communities in which you operate? We also consider things like women empowerment and your policy around labor management in your business Corporate Social Responsibility (CSR) and how you empower the communities in which you operate. For us at Coronation Infrastructure Fund, the financial return is just one of the factors, but not the

only factor, we consider before we invest in any company or project.

Infrastructure projects can be complex and then subject to various risks. How will Coronation approach risk management and ensure resilience of the infrastructure investment portfolio?

We are very big on ensuring that we apply the right risk framework in all our investments. Because we are investing for 10 years, 15 years, we see ourselves as taking risks similar to what the shareholders of the business will take. So, we have a very comprehensive risk management framework that ensures that one, we identify the right transaction and ensure it’s a bankable project, secondly we carry out an exhaustive due diligence covering every aspect of the investment and finally, enact a comprehensive portfolio management process to ensure we support the growth of our portfolio companies over time. We also have a very robust and independent investment committee. The members of that investment committee are accomplished individuals who collectively have over 100 years of experience of investing in infrastructure projects. So, we will leverage on their experience significantly in how we approach risk management. In some cases, we work with independent parties to help us assess those risks. So, where we need to work with the independent legal counsel to help us look at the legal risk involved. Same as technical consultant to help us look at the technical risk involved as well as commercial advisor to help us look at the commercial terms and tax implication of what we are doing. We will rely on those experts in how we make our decisions. And then a robust risk framework that is governed and overseen by our investment committee are also in place to guide us for every investment that we make. There is a lot of scrutiny at every stage.

We work with our portfolio companies in a way to help them grow and develop. We don’t want to invest in a way that our finances put a strain on the businesses or the ability to meet their business goals. hence a key cardinal part of our investment is structuring our financing in a way that it doesn’t encumber the ability of the companies to grow or where necessary raise new financing for expansion or next phase of growth.

Given the global financial crisis, the infrastructure deficit, what opportunity does Coronation Infrastructure Fund see in emerging markets like Nigeria? Are there plans to approach investment opportunities, particularly across Africa?

Africa is rich in abundant resources which invariably means there is significant opportunity for investors who believe in Africa and can successfully navigate the terrain. Our goal here at Coronation is to find and finance investment opportunities that we believe have the potential to transform African lives. So, whilst this fund is majorly focused on Nigeria, we are actively looking at opportunities across sub-Saharan Africa as long as the project is bankable and fits within our investment criteria and we see a lot of opportunities across every sector in Africa. For example, we are seeing a lot of investment appetite within the renewable energy space in Africa as the continent continues to grapple with the challenges of reliable and cheap power. We also see a lot of opportunities within the transportation sector. There are a lot of countries in Africa talking about building corridors that connect countries. The private sector will have to mobilize a significant part of the financing required to fund such a noble initiative.

We also see a renewed interest within Africa’s solid minerals. For instance, as the world transitions from fossil fuel cars to EVs, many of the minerals needed to produce them, including cobalt, lithium, manganese are available in Africa and will require significant amount of Africa-led private sector participation. We at Coronation want to be at the forefront of capital mobilization and deployment especially as Africa plays at important role in energy transition over the next decade.

Looking ahead, what are the fund long-term goals and aspirations for each investment, infrastructure investment portfolio?

We have a 20 billion series one offer currently opened to investors who are looking to tap into these unique opportunities and are looking for a stable return. But we are not stopping there. Our aspiration is to continue to attract global funding to finance investments across Africa. Our mantra at Coronation is to build a legacy of wealth creation for Africans and Africa. We believe through the launch of Coronation Infrastructure Fund, we have taken another step towards this goal and we are calling on partners to join us as we embark on this interesting and transformative journey.

24 BUSINESSWORLD I N T ERv IEW THISDAY • W EDNESDay, MaRch 27, 2024
Akinjo

Obasanjo, Stakeholders Appraise CPS 20 Years After

After 20 years of the implementation of Contributory Pension Scheme (CPS) in Nigeria, stakeholders including former President Olusegun Obasanjo whose regime instituted the scheme, evaluated it’s performance at a gathering in Lagos. Ebere n woji captures their assessment of the scheme

On June 25th this year, it will be exactly 20 years the 2004 Pension Reform Act which gave birth to the Contributory Pension Scheme (CPS) was signed into law.

As such, Nigerian workers and pensioners stand to celebrate 20 years of liberation from old age poverty as a result of retirement without benefits as well as hopelessness and fear of retirement which in the past had compelled many to falsify their true age during the regime of Defined Benefit Scheme (DBS). A major advantage of CPS over DBS is its funded nature which keeps a worker’s retirement benefit intact waiting for his last day in active service either in private or public sector employment.

The CPS in Nigeria has witnessed various stakeholders’ appraisal of its successes and failures.

The latest appraisal came from the originator of the scheme, former President Olusegun Obasanjo in whose regime the Nigeria’s pension system was reformed and the Pension Reform Act 2004 enacted establishing the CPS and its supervisory agency the National Pension Commission(PenCom) which initially licensed seven PFAs, which was later increased to 21.

ExiSting PFAS

The existing 21 Pension Fund Administrators and Pension Fund Custodians(PFCs) are: Access Pensions Ltd, ARM Pension Managers Ltd, Crusader Sterling Pensions Limited, FCMB Pensions Limited, Fidelity Pension Managers Limited, Guaranty Trust Pension Managers Ltd, Leadway Pensure PFA Ltd, Nigerian University Pension Management Company (NUPENCO), NLPC Pension Fund Administrators Limited, Nurrenberger Pensions Limited, NPF Pensions Fund Administrators Limited, Oak Pensions Limited, Pension Alliance Limited, Premium Pension Limited, Radix Pension Managers Limited, Stanbic Pension Managers Limited, Tangerine APT Pensions Limited, Trustfund Pensions Limited, Veritas Granville’s Pensions Limited.

In the 20 years of CPS, these firms have harvested the existing N19.5 trillion assets from over 10 million contributors and are currently kicking hard to sweep all informal sector operators into pension net through the Micro pension scheme.

The Pension Fund Custodians in Nigeria are; First Pension custodian Nigeria Limited, UBA Pensions Custodian Limited, and Zenith Pensions Custodian Limited .

The companies have prudent and judicious management and investment of contributors’ funds amassed wealth for the various contributors within the period under review.

ObASAnjO’S ASSESSmEnt

Enthralled by the speedy growth and quantum of assets accumulated by the pension sector within these two decades, former President Obasanjo during an interview with the Chief Executive Officer of umbrella body of all PFAs and PFCs, the Pension Fund Operators Association of Nigeria (PenOp), Mr Oguche Agudah, said that when his administration instituted the pension reforms and pushed to have a bill to reform the way pension administration was done in Nigeria, he did not think that the assets would grow this quickly and have the positive effect it has had so far.

He said one of the major reasons for the reform was te pain of seeing so many pensioners queuing up to collect their pensions during his first term in office, especially military men who had served the Nation. With this in mind, he said he had resolved to see how the government could make pension management and administration private sector driven and move in line with global best practices.

Asked why his administration chose CPS for Nigeria, He said ,“It’s simple, we saw what other countries were doing and felt it was good for us and so we copied it and adopted it. There is no harm in copying if we see what other countries are doing and it’s good for them, we can adopt it.”

According to him, what the pension industry needed to do is to see how the pension assets that have been saved over the years could help more in national development, especially infrastructure investments in a safe and sustainable manner that would not jeopardise people’s pensions. Obasanjo spoke in an interview with Agudah as part of the activities to mark twenty years of pension reforms in Nigeria.

nUPCPS ASSESSmEnt

Obasanjo’s appraisal came on the heels of another

appresal of CPS by an important actor in the scheme, the National Union of Pensioners Contributory Pension Scheme (NUPCPS).

According to them, the CPS was the best thing that has happened to Nigeria’s Pension administration.

The NUPCPS members stated this when they paid a courtesy visit to Agudah in his office. The pensioners who were represented by their executives from various states of the federation confessed that the CPS was framed in the best interest of pensioners if implemented to the later.

They said the CPS had eliminated fraud, had given them certainty of payments of pensions, and has also allowed them to be able to plan.

The pensioners however, said there were aspects of the CPS that could be improved upon, and called on the PenOp CEO to engage other stakeholders to ensure that these aspects were looked into.

Some of the new developments they wanted, are; constant engagement with the pensioners by the industry, the enhancement of their pensions and more transparency in terms of how their returns were shown to them.

The pensioners said thet are the reason the industry exists and that all workers in the pension space have the pensioners to thank for their jobs.

Aguda commended the pensioners for giving their service to their country and their organisations in their twilight years adding that the pension industry and the country needed to tap from wealth of experience that they had gathered over the years.

He assured the pensioners that the pension industry was committed to the welfare of the pensioners, would continue to listen and engage with them so often to understand their complaints.

He assured them that the PFAs were working daily to ensure the best outcome for pensioners.

Late in 2023, PenCom and PenOp had appraised the performance of the sector and described the period as years of gainful reforms in Nigeria’s pension system.

They admitted that it has not been wasted 20 years, but years of reforms and achievements. They however noted that one of the major challenges of the scheme over the years has been the need to get Nigerians see the value of financial planning through pension savings.

They recalled that the condition of pensioners during the pre Contributory Pension Scheme (CPS) era was nothing desirable.

They recalled that pensioners were nothing better than destitutes in different corners of the country, where they cluster to wait endlessly to collect their meager benefits .

The situation, they said, continued for many years until in June 2004 when the former President Olusegun Obasanjo instituted a massive reform in the pension sector having adopted the prevailing CPS.

CPS And itS ObjECtivES

The CPS which is contributory in nature is fully funded and is privately managed and ensures that every one who worked in Nigeria receives his retirement benefits

as at when due. It covered all employees in public and private sector but exempts all workers who have three years or less to retire and persons covered by the provisions of section 291 of the constitution of Federal Republic of Nigeria 1999. The main objective of the CPS is to ensure that every person that worked in either the public or private sector in Nigeria receives his or her retirement benefits as and when due.

REtiREmEnt bEnEFitS PAid

Aguda told the pensioners that in the past 15 years, Pension Fund Administrators (PFAs) have paid a total sum of N1.63 trillion to retirees in both public and private sectors under both programme withdrawal.

He said the above figure was paid to 442,000 Nigerians who retired from services in various employments in the country during

the period.

Agudah said out of the N1.63 trillion lump sum paid on both life annuity and programme withdrawal, in the second quarter 2023 total life annuity payment stood at N665.1 billion .This according to him was received by 111.708 applicants. He said in third quarter 2022, a total of N595.22 billion was paid to 102,696 applicants as annuity lump sum.

He said in third quarter 2019, a total of N386.30 billion was paid as annuity life lump sum to 71,214 applicants while in the third quarter 2015, a total of N101.96 billion was paid to 20,615 applicants and in third quarter 2011, N1.51 billion was paid to 331 applicants as annuity.

iSSUES in CPS mAnAgEmEnt

Also speaking, PenCom Head of Survillance department, Dr Ehimeme Ohioma said the three key issues in pension management which all PFAs must not joke with were adequacy, sustainability and service delivery.

According to him, pension payment must be adequate for retirees to solve their problems.

He however said for pension payment to be adequate, workers and their employers must contribute adequately because a worker’s contributions determine his payment at retirement. He said the pension system must be sustained to ensure continuity .

He said to ensure that continuity, the managers must ensure that in this period of inflation, return on investment was above inflation.

He said this could be done through right choice of investment instruments and windows.

On service delivery, Ohioma said pension administrators must bear in mind that there must always be complaints from the contributors.

He said this being the case, it behoves operators and regulators to ensure that the complains were perfectly treated.

25
WORLD
THISDAY • W EDNESDAy, M A R C h 27, 2024
BUSINESS
INSURANCE

Diri’s BayelsaPRIME: Democratising Education, Delivering Results

One year after launch, Governor Douye Diri’s basic education reform has shown that change is possible if states make the necessary investment, writes g ilbert Ekwugbe

As the cool harmattan breeze, mixed with soothing stream-fog from the Nun river, enveloped Agbere Community in the morning of 11, March 2024, all seven teachers in the state-owned primary school were already in school.

The time was 7.15am. Visibility was still low and the morning was cold but the teachers braved the weather to “mark-arrival,” a term they use to describe the process of clocking in with their governmentissued teacher-tablets.

“It was not like this in the past,” says Mrs. Evelyn Ekiegha Ekese, the headteacher of the school, which caters to the learning needs of over 200 children.

In Bayelsa, government primary school teachers now have to arrive for work at between 7.15am and 7.45am or be regarded as late.

“There was a time, not too long ago, when most teachers in our schools would always be late. Some did not even show up at all, while others were simply not teaching even when in school.

“Back then, all a teacher had to do was to pacify the headteacher. There were loopholes in the system that were being exploited. But things have changed since BayelsaPRIME was introduced by the government.

“Imagine teachers now talking about meeting KPIs in government primary schools,” Mrs. Ekese says jokingly as she settles into her small office by 8.10am.

February 2024 marks the first anniversary of the commencement of BayelsaPRIME (Bayelsa Promoting Reform to Improve and Modernize Education) the basic education reform inspired by Governor Douye Diri’s vision of improved literacy and numeracy among pupils, as well as enhanced school management.

A visible mark of the programme’s impact is the complete overhaul of school management style which has taken place. This has led to drastic improvement in teacher punctuality and attendance, availability of data for policy making, shift in classroom management philosophy and quality assurance.

“We are no longer in an era where people falsify their school attendance or lesson completion rates and get away with it,” says Mrs. Ekese.

“These days, everything is monitored remotely, so even if a teacher reaches an illegal agreement with a headteacher, the system will still expose that teacher because data is collected remotely,” she adds, pointing to the sophisticated government issued-smartphone and apps that she uses to manage her school.

DEMocRaTISIng

EDucaTIon

Beyond engendering punctuality and helping teachers to become more effective, BayelsaPRIME is pupil-centred.

Classroom activities are centered on how pupils can assimilate what they are taught; and the quality of lessons is the same, be it in the most hard-to-reach swampy communities of Sagbama local government area, or the more cosmopolitan townships of Yenagoa, the state capital.

“What we are learning here in the small village of Agbere, is what those in the townships are learning at the same time,”Mrs. Ekese confirms.

For the first time, teachers in villages cannot complain about not having the textbooks to prepare compelling lesson notes to meet the needs of their pupils,” she says.

Each teacher in the BayelsaPRIME system receives the same research-based quality instructional guides which they deliver to their pupils and have the liberty to incorporate elements that will enable their pupils to digest the lessons.

Pupils are involved in the teaching and learning process. Teachers engage pupils to speak to each other and carry out other activities just to ensure that learning objectives are achieved.

Also, BayelsaPRIME is designed in such a way that even hard-to-reach schools which do not have the requisite number of classrooms or teachers are catered for through an innovative model referred to as the “Progressive School Model.” Here special measures are taken to ensure that no child misses out on the opportunity to learn.

Just two weeks ago, on International Women’s

“There was a time, not too long ago, when most teachers in our schools would always be late. Some did not even show up at all, while others were simply not teaching even when in school.”

Day, one of the talking points at Bayelsa State Universal Basic Education Board was how creatively Governor Diri has democratised quality basic education service delivery through BayelsaPRIME.

Children in remote areas have access and girls who make up circa 45% of the pupil population in government primary schools are benefiting from the life-changing education.

“What makes us really happy is that we are seeing results from the perspective of the pupils and parents are testifying to the changes they are seeing among the children,” Mrs Ekese notes. Measurable Impact

Just 19 weeks after BayelsaPRIME was launched in four local government areas, a measurement and evaluation exercise was conducted to assess the impact of the programme on children and the school system. A total of 60 schools were selected for the activity: 32 BayelsaPRIME schools and 28 non-BayelsaPRIME schools.

The outcome reflects the importance of reform and the impact it can have on a system if well managed.

Pupils in schools where the reform has been implemented showed significant gains in average reading fluency. They gained between 7.5-9.8

“Back then, all a teacher had to do was to pacify the headteacher. There were loopholes in the system that were being exploited. But things have changed since BayelsaPRIME was introduced by the government.”

cumulative words per minute, more than those in the comparison group.

All grades performed better on average — for example, Primary 6 pupils read 25 words more per minute while Primary 2 and 4 more than doubled their expected outcomes.

Progress was also made in decreasing the number of non-readers. Overall, the share of non-readers in schools where the reform was implemented decreased. Primary 1, 2 and 6 saw the greatest decrease, with Primary 1 dropping by 21% while Primary 2 dropped by 10%.

As expected, with increased reading fluency came increased comprehension to the pupils. Every grade showed improvement with comprehension questions. Primary 6 saw the largest gains, with test scores increasing by 22% points.

The case is quite different in the control schools as literacy and numeracy skills did not see the same level of improvement as what was observed in schools which have adopted BayelsaPRIME.

Stakeholders have continued to respond to the learning outcomes that have been achieved. “There has been a significant improvement in reading fluency. From my engagement with the teachers, I have come to understand this,” Peter Bilia, a schools supervisor said.

A parent noted that “My child has improved significantly, especially in the area of mathematics.”

In the interim, there are medium-to-long term plans to scale up the programme to the other local government areas in Bayelsa State.

As the programme expands to new schools, and increases the rate at which it is effectively used by headteachers and teachers, it will keep delivering learning gains to pupils.

An innovative basic education programme, BayelsaPRIME is transforming government primary schools into powerful institutions of learning. It is upskilling and equipping teachers with digital tools and skills relevant to their work, deploying a curriculum that helps children learn faster.

BayelsaPRIME currently caters to over 51,000 pupils across 216 schools.

26 BUSINESSWORLD FEATURE W EDNESDAy, M A Rch 27, 2024 • THISDAY
Pupils in a government primary school in Yenagoa A higher primary school teacher providing more insights to a pupil during a lesson A teacher engaging her Early Childhood Care Development & Education (ECCDE)
WEDNESDAY MARCH 27, 2024 • THISDAY 27

Opara Seeks Renewed Focus on Ethics, Professionalism in Banking Industry

President of the Chartered Institute of Bankers of Nigeria (CIBN), Ken Opara, has issued a rallying call for the banking sector to prioritize ethics and professionalism amidst growing challenges and controversies.

Opara emphasised the urgent need for a renewed commitment to ethical standards within the financial services industry. He highlighted recent instances of unethical behavior and regulatory violations that have tarnished the reputation of the banking sector, undermining public confidence and trust.

Also, the institute announced plans to establish a banking school aimed at advancing professionalism and ethical standards within the banking and financial sectors during the hybrid 2024 Graduates’ Induction and Prize Awards Day held in Lagos over the weekend. Opara said: “In recent years, the financial services industry has faced numerous challenges and controversies that have underscored the critical need for a renewed focus on ethics and professionalism. Instances of unethical behaviour, regulatory violations, and breaches of trust have tainted the reputation of the industry and weakened public confidence. High-profile cases of misconduct and infractions have not only resulted in financial losses but have also injured the reputation of financial institutions and professionals.”

“In response to this challenge, the Institute has implemented a mandatory annual Ethics Compliance Certification Programme, which is being deployed through the CIBN eLearning Platform for staff of banks. The purpose of this certification is not only to address specific cases of misconduct but also to ensure that the practice of banking in Nigeria aligns with global standards as prescribed by the Global Banking Education Standards Board (GBEStB). By fostering a culture of ethical conduct and continuous learning, we can uphold the integrity of our profession and enhance trust and confidence in the financial services sector. L-R:

LASG,Verve Forge Ahead with Solution-based LAG ID Partnership

Lagos State and Verve Card, in collaboration with the Lagos State Residents Registration Agency (LASRRA), have advanced their partnership aimed at enhancing the LASRRA card, known as LAG ID, into a smart card capable of serving identification and payment functions.

With the involvement of Sterling Bank, the partnership has maintained its momentum, with the distribution of hundreds of thousands of LAG IDs to Lagos State residents ongoing.

The Verve-Lagos State Residents Registration Agency

(LASRRA) partnership has enabled an upgrade of the LASRRA card (known as LAG ID) into a smart card, enabling residents to use their cards for identification and payments. The partnership, also involving Sterling Bank, has continued to make progress as hundreds of thousands of the LAG IDs have been distributed to residents of Lagos State.

In a statement, Verve, a payment card and digital token brand, reaffirms its commitment to continued collaborating with the Lagos State Government in developing cutting-edge solutions to enhance the digital payment

experience for both Lagos residents and Verve cardholders.

Managing Director at Verve International, Vincent Ogbunude said: “At Verve, we are dedicated to working with Lagos government and empowering Lagos residents through strategic partnerships that redefine their digital payment experience. By leveraging partnerships, we are providing residents with cutting-edge payment solutions that enhance convenience, security, and accessibility, ultimately shaping a brighter financial future for all.”

IBEDC Partners SIPTEO to Crack Down on Energy Theft

Kemi Olaitan in Ibadan

The Ibadan Electricity Distribution Company (IBEDC) Plc, has assured of its commitment to intensify campaign against energy theft within its network area.

The Chief Key Accounts Officer of the distribution company, Mr. Johnson Tinuoye, who made the disclosure in a statement, said IBEDC will do this in collaboration with the Federal Government Special Investigation and Prosecution Task Force on Electricity Offences (SIPTEO), to actively pursue investigations and legal actions against individuals and businesses involved in energy theft.

According to him, IBEDC identified and recorded over 1,459 cases of energy theft between January and February 2024, stating that these cases

include various offenses such as meter bypass and illegal meter tampering resulting in significant financial losses amounting to hundreds of millions of naira for the company.

He maintained that the escalating figures have prompted a strategic partnership with SIPTEO, a federal government agency dedicated to expediting the investigation and prosecution of offenders within IBEDC’s franchise.

Tinuoye emphasized that under the Electricity Act, energy theft is now recognized as a criminal offense carrying severe penalties including imprisonment.

He stated further that two individuals were apprehended for stealing energy through meter bypass and illegal connections, noting that their cases have been formally charged to court for

prosecution.

“We want to send a clear message to our customers that energy theft will not be tolerated. Our collaboration with the Federal Government Special Investigation and Prosecution Task Force on Electricity Offences underscores our commitment to ensuring a fair and just electricity distribution system. Energy theft not only undermines the integrity of our operations but also deprives IBEDC of the revenue necessary to provide quality services to our customers”, Tinuoye said.

He urged customers to refrain from engaging in any form of energy theft, emphasizing that the consequences can be severe, as there is no room for negotiation with the SIPTEO task force team which is actively patrolling and investigating instances of energy theft for prosecution.

9PSB Mentors Students on Financial Discipline

9 Payment Service Bank (9PSB), a digital payment service bank reaffirmed its commitment to allinclusive financial services as it extended its financial literacy and mentorship programme to Rosebay Schools, Lekki Phase 1 in Lagos State to mark this year’s Global Money Week theme, “Protect Your Money, Secure Your Future”

In a statement, the Group Head, Business Development and Strategy at 9PSB, Akeem Salam, emphasised that to earn money one must engage

in a productive activity by working for an organisation, offering services, running a self-employed business, or conducting investment ventures that will yield returns at a stipulated period.

He states: “To make money, one must understand and define his or her purpose in life, identify your niche where you can perform excellently by creating value through your services and people will be willing to pay. For you to know how important money is, this week has been dedicated globally to

raising awareness about financial literacy, targeting children like you to raise your consciousness on how to protect your money and secure your future,” Salam remarked.

“The future is not too far from now, you need to start planning and investing your money, and your parents and teachers need to help you begin the journey. The most important thing now is to ensure you start saving, be consistent and disciplined, so you will not have to regret tomorrow,” he added.

Money Market Indicators (in Percentage)

The price of OPEC basket of twelve crudes stood at $81.30 a barrel on Tuesday, compared with $79.70 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

business/ MOn e YG ui D e • Monetary Policy Rate - 13% MARKET INDICATORS • Source - CBN MONEY AND CREDIT STATISTICS (M i LL i O n n A i RA) NOvEMbER, 24 Money Supply (M3) 72,014,274.74 -- Cbn bills Held by Money Holding sectors 1,245,804.25 Money supply (M2) 71,331,641.40 -- Quasi Money 45,146,611.59 -- narrow Money (M1) 26,185,029.81 ---- Currency Outside Banks 3,081,255.46 ---- Demand Deposits 23,103,774.40 net Foreign Assets (nFA) 32,212,549.50 net Domestic Assets(nDA) 58,300,995.27 -- net Domestic Credit (nDC) 39,801,725.20 ---- Credit to Government (net) 32,511,333.17 ---- Memo: Credit to Govt. (net) less FMA 0.00 ---- Memo: Fed. and Mirror Accounts (FMA) 0.00 ---- Credit to Private Sector (CPS) 59,737,156.08 --Other Assets net 4,720,308.20 Reserve Money (base Money 22,908,392.34 --Currency in Circulation 3,347,716.33 banks Reserves 19,560,676.02 special intervention Reserves 0.00
Month December 2024 Inter-Bank Call Rate 16.99 Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR) 18.75 Treasury Bill Rate 8.93 Savings Deposit Rate 5.28 1 Month Deposit Rate 7.24 3 Months Deposit Rate 7.56 6 Months Deposit Rate 8.42 12 Months Deposit Rate 9.75 Prime Lending rate 14.17 Maximum Lending Rate 26.62
OPEC DAILY b ASKET PRICE As At 24t H JA nu ARY , 2024 28 W e D nesDAY, M A R CH 27, 2024 • THISDAY
Prime Minister of Grenada, Dickon Mitchell and Chairman, Optiva Capital Partners, Franklin Nechi, at the exclusive pre- opening ceremony for the newly completed Six Senses Five-Star Resort in Grenada, ...recently

Stock Market Sustains Downward Trend, Decline by N104bn

The domestic stock market yesterday closed on a negative note as the overall capitalization fell by N104 billion, following investors profit-taking in the stock of MTN Nigeria Communications (MTNN) Plc and 23 others.

The drop in the stock market is coming amid Monetary Policy Committee of the Central

Bank of Nigeria (CBN) further raising the Monetary Policy Rate (MPR) by 200basis points to 24.75 per cent and tweaked the asymmetric corridor around the MPR to +100/-300 from +100/-700.

However, Cash Reserve Ratio (CRR) and Liquidity Ratio (LR) for Commercial banks were left unchanged at 45.0 per cent and 30.0 per cent, respectively. Meanwhile

the CRR of Merchant bank was raised 400bps to 14.0 per cent.

The NGX All-Share Index dropped by 183.88 per cent or 0.18 per cent, to close at 103,952.47 basis points. Similarly, the overall market capitalisation value lost N104 billion to close at N58.776 trillion.

The market negative performance was driven by price depreciation in large and me-

dium capitalised stocks which are; MTNN, United Capital, FBN Holdings (FBNH), PZ Cussons Nigeria and Access Holdings. Investor sentiment, as measured by market breadth closed positive as 27 stocks advanced, while 24 declined. Abbey Mortgage Bank recorded the highest price gain of 10 per cent to close at N2.42, per share.

Consolidated Hallmark Holdings followed with a gain of 9.92 per cent to close at N1.44, while Juli rose by 9.80 per cent to close at N8.63, per share.

May & Baker Nigeria appreciated by 9.69 per cent to close at N6.00, while International Energy Insurance rose by 9.63 per cent to close at N1.48, per share.

On the other hand, UPDC

led the losers’ chart by 9.87 per cent to close at N1.37, per share. United Capital followed with a decline of 8.75 per cent to close at N21.90, while Sovereign Trust Insurance lost 8.33 per cent to close at 44 kobo, per share.

FTN Cocoa Processors lost 8.00 per cent to close at N1.61, while Livestock Feeds depreciated by 7.82 per cent to close at N1.65, per share.

PRICES FOR SECURITIES TRADED ASOF MARCH /26/24

mARKET NEWS
29 WEDNES DAy, mA Rch 27, 2024 • THISDAY
MAIN BOARD DEALS MARKET PRICE qUANTITy TRADED vALUE TRADED ( N ) MAIN BOARD DEALS MARKET PRICE qUANTITy TRADED vALUE TRADED ( N )
WEDNESDAY, MARCH 27, 2024 • THISDAY MARKET NEWS 30 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. 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 25Mar-2024, 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 Coral Balanced Fund 6,064.95 6,110.42 20.64% Coral Income Fund 4,076.01 4,076.01 8.33% Coral Money Market Fund 100.00 100.00 16.71% FSDH Dollar Fund 1.21 1.21 4.89% 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 NILL NILL NILL Vantage Balanced Fund NILL NILL NILL Vantage Guaranteed Income Fund NILL NILL NILL Kedari Investment Fund (KIF) NILL NILL NILL Vantage Equity Income Fund (VEIF) - June Year End NILL NILL NILL Vantage Dollar Fund (VDF) - June Year End NILL NILL NILL 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 1,226.35 1,226.35 4.05% Lotus Halal Fixed Income Fund 1.92 1.96 23.42% Lotus Halal Equity Exchange Traded Fund 28.54 31.55 144.17% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund NILL NILL NILL Meristem Value ETF NILL NILL NILL Meristem Growth ETF NILL NILL NILL Meristem Fixed Income Fund NILL NILL NILL Meristem Dollar Income Fund NILL NILL NILL Meristem Money Market Fund NILL NILL NILL 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) 100.00 100.00 12.05% Norrenberger Money Market Fund (NMMF) 104.84 104.84 6.84% NORRENBERGER DOLLAR FUND (NDF)-----($) 104.88 104.88 10.77% NORRENBERGER TURBO FUND (NTF)-----(N) 103.33 103.33 13.38% 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 10.00 10.00 0.00% PACAM Fixed Income Fund 12.61 12.90 630.75% PACAM Money Market Fund 2.72 2.77 17.15% PACAM Equity Fund 2.60 2.63 20.62% PACAM EuroBond Fund 147.84 150.94 11.88% SCM CAPITAL ASSET MANAGEMENT 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 The Frontier Fund NILL NILL NILL 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 NILL NILL NILL Skye Shelter Fund* NILL NILL NILL Union Homes REIT NILL NILL NILL 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 1.00 1.00 14.65% Stanbic IBTC Bond Fund 257.73 257.73 3.15% Stanbic IBTC ETF 30 Fund 1.49 1.49 7.20% Stanbic IBTC Ethical Fund 130.25 130.25 6.48% Stanbic IBTC Guaranteed Investment Fund 128.74 128.74 9.50% Stanbic IBTC Imaan Fund 5,116.50 5,116.50 8.88% Stanbic IBTC Money Market Fund 11.33 11.33 54.84% Stanbic IBTC Nigerian Equity Fund 5,477.79 5,524.70 10.02% SIAML PENSION 40 550.20 550.20 -23.26% Stanbic IBTC Dollar Fund (USD) 2.35 2.38 14.25% Stanbic IBTC Shariah Fixed Income Fund 357.43 357.68 1.19% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 430.80 436.20 14.21% Stanbic IBTC Absolute Fund 19,336.96 19,570.21 6.59% Stanbic IBTC Aggressive Fund 933.00 933.00 86.60% Stanbic IBTC Conservative Fund 5,952.68 6,026.48 10.63% UPDC REIT 5,607.06 5,631.25 6.07% 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 Money Market Fund 1.00 1.00 12.26% United Capital Sukuk Fund 1.21 1.21 9.31% United Capital Fixed Income Fund 1.98 1.98 6.47% United Capital Nigerian Eurobond Fund 125.86 125.86 5.30% United Capital Global Fixed Income Fund 1.10 1.10 7.66% United Capital Equity Fund        1.59 1.61 17.21% United Capital Balanced Fund 2.00 2.01 8.09% United Capital Wealth for Women Fund 1.64 1.65 14.97% 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 19.92 20.16 8.00% Zenith ESG Impact Fund 22.39 22.57 2.69% Zenith Income Fund 25.94 25.94 2.41% Zenith Money Market Fund 1.00 1.00 14.36% VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 10.03 10.13 141.44% Vetiva Consumer Goods Exchange Traded Fund 16.22 16.32 176.26% Vetiva Griffin 30 Exchange Traded Fund 38.27 38.47 104.48% Vetiva Money Market Fund 1.00 1.00 11.35% Vetiva Industrial Goods Exchange Traded Fund 48.25 48.45 101.19% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 147.83 149.83 3.05% REITS Fund Name NAV Per Share Yield / T-Rtn SFS REIT 0.00 0.00 Chapel Hill Denham Nigeria Infrastructure Debt Fund 114.00 N/A info@anchoriaam.com 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 359.02 359.02 19.45% Afrinvest Plutus Fund 332.99 332.99 0.00% Nigeria International Debt Fund 100.00 100.00 13.70% Afrinvest Dollar Fund 109.13 109.13 1.28% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 15.08% AIICO Balanced Fund 5.24 5.32 3.39% 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 0.00% Anchoria Equity Fund 227.72 230.45 17.64% Anchoria Fixed Income Fund 1.17 1.17 -7.25% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 37.75 38.89 23.58% ARM Discovery Balanced Fund 767.71 790.86 15.89% ARM Ethical Fund 63.94 65.87 17.27% ARM Eurobond Fund ($) 1.12 1.12 2.53% ARM Fixed Income Fund 1.11 1.11 7.30% ARM Money Market Fund 1.00 1.00 13.21% ARM Short Term Bond Fund 1.02 1.02 8.67% Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 109.7 109.7 5.89% AVA GAM Fixed Income Naira Fund 1,097.63 1,097.63 -1.86% 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 NILL NILL NILL AXA Mansard Money Market Fund NILL NILL NILL 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 NILL NILL NILL Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) NILL NILL NILL CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalfif@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund Name Bid Price Offer Price Yield / T-Rtn Capitaltrust Halal Fixed Income Fund N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.04 1.04 9.01% 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 NILL NILL NILL Paramount Equity Fund NILL NILL NILL Women's Investment Fund NILL NILL NILL CHD Nigeria Bond Fund NILL NILL NILL CHD Nigeria Dollar Income Fund NILL NILL NILL CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 14.76% Cordros Milestone Fund 110.09 110.09 9.72% Cordros Fixed Income Fund 111.60 111.60 8.90% Cordros Halal Fixed Income Fund 116.04 116.04 6.29% Cordros Dollar Fund ($) 187.14 188.49 8.20% 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 1.00 1.00 13.04% Coronation Balanced Fund 1.56 1.57 -0.60% Coronation Fixed Income Fund 1.30 1.30 0.09% 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 NILL NILL NILL EDC Nigeria Money Market Fund Class B NILL NILL NILL EDC Nigeria Fixed Income Fund NILL NILL NILL 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 NILL NILL NILL Emerging Africa Bond Fund NILL NILL NILL Emerging Africa Balanced Diversity Fund NILL NILL NILL Emerging Africa Eurobond Fund NILL NILL NILL 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 Money Market Fund 100 100 16.10% FBN Bond Fund 1589.83 1589.83 2.74% FBN Dollar Fund 126.12 126.12 1.78% FBN Halal Fund 137.73 137.73 3.01% FBN Specialized Dollar Fund 114.34 114.34 2.20% FBN Balanced Fund 301.59 303.93 11.53% FBN Smart Beta Equity Fund 277.18 281.16 11.46% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 14.15% Legacy Debt Fund 1.34 1.34 4.62% Legacy Equity Fund 3.39 3.39 -23.51% Legacy USD Bond Fund 3.32 3.39 19.83% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn

NTIC: Bridging Arts and Science Through Fair

Arts and science are disciplines essential in the human community, but many have argued that one is more important than the other. Michael Olugbode reports that the Nigerian Tulip International College, through a recently organised science, technology, engineering, arts, and mathematics fair with thousands of students in Abuja in attendance, showed that variety is the soul of a community

The argument as to which is superior between science and art has always been there and may perhaps never be resolved. Those who believe science is superior argue that science is much more important than art and see anyone who claims otherwise as extremely deluded. They argue that without art, people will still survive and live. But without science, all these smartphones, fast communication, air travel, the internet and any modern technologies we take for granted, which make our lives easier, would never exist. They see science as necessary for the advancement of society. It is the application of knowledge to solve problems and create new products, services, and technologies. Science has been at the core of humanity’s progress since the dawn of time. It has improved our quality of life, provided us with better health care, created longer-lasting and more efficient energy sources, helped us understand the universe better, and given us a greater understanding of the human body. They would further argue that, in contrast, art is primarily about expression and creativity.

While it can be thought-provoking and beautiful, it does not necessarily provide tangible benefits like science does. Arts does not have the same problem-solving or research capacity as science. It does not give us new tools or technologies to improve our lives and does not take us any closer to answering questions about how the universe works or why we exist. They would conclude that science is much more useful and important than art because it provides tangible benefits that have shaped our world. It answers our questions and helps us understand the natural world in ways that art cannot. It can potentially make our lives easier, healthier, and more fulfilling. Art may bring beauty and meaning to life, but science is essential for advancing our civilisation.

The relationship between art and science is a captivating and complex interplay that has fascinated thinkers, creators, and scholars throughout history. However, seemingly distinct disciplines, such as arts and science, are more interconnected than one might initially perceive. Arts, often associated with creativity, imagination, and aesthetic expression, and science, characterised by logic, observation, and empirical evidence, share a profound connection that transcends their apparent differences. Together, they form a symbiotic relationship, influencing and enriching one another in ways that push the boundaries

of human understanding and creativity.

Art and science, at their core, are both methods of inquiry into the nature of the world. While science seeks to understand and explain phenomena through rigorous observation, experimentation, and analysis, art explores the world through subjective interpretations, emotions, and sensory experiences. Both disciplines strive to make sense of the world and communicate their findings to others, albeit through different means.

The arts refer to expressing or applying human creativity and imagination through visual arts (painting, sculpture, drawing), performing arts (music, dance, theatre), literature, film, and more. They encompass a wide range of disciplines and forms of expression, reflecting subjective interpretations, emotions, aesthetics, and cultural contexts. Artistic endeavours often aim to evoke sensations, provoke thought, convey ideas, or communicate experiences, providing a means for individuals to explore and express their perceptions and perspectives of the world.

On the other hand, science is a systematic and empirical approach to understanding the natural world. It involves the study of the structure,

Otti Initiates Total Remodelling of Schools in Abia

Emmanuel Ugwu-Nwogo

in Umuahia

Governor Alex Otti’s initiative to remodel primary and secondary schools in Abia would transform the education sector, the Senior Special Assistant to the Governor on Due Process, Dr. Oluebube Chukwu, said. Chukwu disclosed this in a chat with journalists in Umuahia, saying that the initiative announced last week after the meeting of the State Executive Council would help revolutionise the entire Abia education sector. He described the move as strategic, given that education is indispensable in the quest to build a modern and better Abia. The SSA applauded Otti for the well-thought-out policy initiative, noting that a wellfunctioning education system will significantly impact Abia’s economic growth and overall

development. According to him, equipping Abians with the right skills and knowledge would enable them to be competitive on the global stage in this era of globalisation.

Chukwu, also the founder of Oluebube A. Chukwu Foundation, stated that no other form of empowerment could compare to giving Abia children a sound education, which the governor is committed to achieving.

“A good education teaches one skills as well as broadens one’s horizons to gain better perspective and also helps in inspiring creativity, innovation that could make the state a major player in the global economy.

“Education helps people think, feel and behave in a way that contributes to the success and improvement, not only on the personalities

of individuals but also their communities as well as the entire state,” he said

During his recent media chat, Otti explained that the school remodelling initiative resulted from his government’s resolve to stop the education system in the state from going down.

He stated that 170 primary and 51 secondary schools across the state have been slated for remodelling in the project’s first phase to conform to the 21st-century standard.

Otti said by year’s end, all schools in Abia were expected to have received some rehabilitation, including the provision of modern teaching and learning tools and materials.

The governor further stated that teachers would receive the right skills and knowledge to teach the relevant subjects Abia children need to survive in a global environment.

behaviour, and processes of the physical and natural world through observation, experimentation, and analysis. Science relies on rigorous methodologies, logical reasoning, and the scientific method to formulate and test hypotheses, develop theories, and uncover knowledge about the workings of the universe. Scientific disciplines encompass physics, chemistry, biology, astronomy, psychology, and many others, intending to advance human understanding, make predictions, and solve practical problems.

Over 1,000 students from over 50 schools in Abuja attended the fair, as well as dignitaries from the Federal Ministry for Sports Development, Federal Ministry for Education, Ministry of Science and Technology, Secretary to Education, and National Mathematical Centre, parents, school administrators, and representatives in the technology and art industry.

The Managing Director of NTIC, Fevzullah Bilgin, stated that art and science are important.

He said NTIC had been providing quality education for the past 25 years, “and we understand the significance of creativity and innovation in the learning process. The STEAM fair manifests our commitment to providing a platform for students to showcase their talents and explore their interests in scientific and artistic fields.”

He noted that the NTIC STEAM fair had been

an annual event until the COVID-19 pandemic struck in 2020 and 2021. “We are grateful that we have all overcome that phase, not only in Nigeria but also in the world in general.”

He also mentioned that science “is the bedrock of human understanding, a relentless journey to unravel the mysteries of the universe,” noting that scientists uncover the fundamental laws that govern our world through meticulous observation, experimentation, and analysis. From the microscopic intricacies of cells to the vast expanse of the cosmos, science provides us with the tools to comprehend the intricacies of existence.

Moreover, the scientific process is inherently creative, according to Bilgin, noting that it demands curiosity, imagination, and the courage to question established norms. In this way, science and art share common ground, as both are fueled by the innate human desire to explore the unknown and make sense of our surroundings.

Bilgin added that art, in its myriad forms, is the language of emotion and expression. Whether through painting, sculpture, music, or literature, artists communicate the intangible aspects of the human experience. Art captures the essence of our thoughts, feelings, and perceptions, transcending the limitations of language.

However, he said remarkably, the creative process in art mirrors the scientific method. Artists experiment with colours, textures, and sounds to evoke specific emotions or convey particular messages. The fusion of science and art is evident in digital art, where technology becomes the canvas, bridging the gap between the tangible and the virtual.

He admitted that technology, the driving force behind the modern age, serves as the catalyst for innovation. It transforms abstract ideas into tangible realities, shaping the way we live, work, and interact. From the printing press to the internet, technological advancements have propelled humanity forward, breaking down barriers and connecting us in unprecedented ways. Moreover, technology and art often intertwine to create breathtaking possibilities. Virtual reality, augmented reality, and interactive installations blend the boundaries between the physical and digital realms, offering new avenues for artistic expression and immersive experiences.

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

Stanbic IBTC Adopts Schools to Boost Education, Sustainable Development

Funmi Ogundare

Stanbic IBTC has adopted four schools across the country as part of its Adopt-a-School programme, aimed at enhancing education and fostering sustainable development in communities.

The schools selected include Methodist School, Mbiafun Nkwono Ikono, Akwa Ibom State; Aramoko District School, Aramoko Ekiti State; Magin Rafi Model Primary School Tudun Wada, Sokoto; and Mala Kachallah Model School, Maiduguri Borno.

As part of the transformative exercise, Stanbic IBTC renovated and rebuilt classroom blocks, provided modern and conducive learning environments, furnished classrooms, established computer laboratories, and provided necessary digital resources to empower students.

It created an inclusive and

supportive educational ecosystem by providing 10-seater workstations and renovating toilet blocks, ensuring the provision of the required resources for the students.

Stanbic IBTC showcased its commitment to sustainable construction practices by prioritising passive cooling and ventilation techniques, water conservation through rainwater harvesting, construction of water-efficient plumbing systems, and installing energyefficient appliances and lighting solutions in the facilities.

In addition, Stanbic IBTC prioritised the sustainable use of local resources to minimise emissions from transportation and support the local economy.

The Chief Executive Officer of Stanbic IBTC, Dr. Demola Sogunle, underscored the initiative’s strategic importance, saying that the organisation’s commitment to adopting these

schools reflects its dedication to implementing Environmental, Social, and Governance strategies as part of its core business practices.

“We believe in promoting sustainability and making a positive impact on communities,” he stated, describing education as a cornerstone for societal development.

By adopting these schools, “we are not only contributing to the United Nations Sustainable Development Goal (SDG) 4 but also investing in the future of these communities,” said Sogunle.

He reiterated Stanbic IBTC’s commitment to responsible corporate citizenship.

“Our goal is to make a lasting positive impact on communities through our initiatives and enabling sustainable and thriving environments for generations to come,” Sogunle explained.

31 THISDAY • WEDNES Day M a RCH 27, 2024 2024
Education
One of the student exhibitors explaining his invention to dignitaries at the fair

FOREIGN DESK

Taiwan Conducts Missile Drills Amid China Military Intrusions

Taiwan conducted an air defence test on Tuesday deploying US-made Patriot missiles and its anti-aircraft artillery systems, saying it will ramp up training in the face of Chinese military “intrusions” around the self-ruled island.

Beijing claims Taiwan as part of its territory and has said it will not rule out using force to bring the island under its control.

Chinese warplanes and ships maintain a near-daily presence around the island, as Beijing has ramped up military pressure against Taipei using what experts say are “grey zone” actions — tactics that stop short of outright acts of war.

Taiwan’s Air Force Command said it conducted an exercise between 5:00 and 7:00 a.m. (2100-2300 GMT Monday) that included the island’s domestically made Sky Bow and U.S.-made Patriot surface-to-air missiles along with army and navy units.

Taiwanese President Tsai Ing-wen rejected China’s claim over the island, causing Beijing to cut all high-level communications since she came into power in 2016.

Tuesday, Tsai oversaw the handover of two domestically made warships — both Tuo Chiang-class corvettes — at Suao port in northeast Yilan county.

New Zealand Links Parliament Hacking to China-Backed Group

New Zealand said Tuesday a Chinese statesponsored hacking operation targeted New Zealand’s parliament in 2021, an allegation that came a day after the United States and Britain took actions in response to their own attacks by China-backed hacking groups.

New Zealand’s Government Communications Security Bureau (GCSB) said it linked malicious cyber activity against the country’s parliament to the group Advanced Persistent Threat 40, which the GCSB said is linked to China’s Ministry of State Security.

“The use of cyber-enabled espionage operations to interfere with democratic institutions and processes anywhere is unacceptable,” Minister Responsible for the GCSB Judith Collins said in a statement.

China’s Embassy in Wellington rejected New Zealand’s accusations, calling them “groundless and irresponsible.”

Trump Faces Gag Order in New York Hush Money Criminal Case

Donald Trump on Tuesday was hit with a judge’s gag order sought by prosecutors in his upcoming criminal trial involving hush money paid to a porn star, restricting him from publicly commenting about witnesses and court staff.

Ahead of the former U.S. president’s trial, which is scheduled to begin April 15 in the New York state court, Justice Juan Merchan granted a request for the order made last month by Manhattan District Attorney Alvin Bragg’s office.

The prosecution sought an order blocking Trump from “making or directing others to make” statements about witnesses concerning their role in the case and from commenting on court staff and prosecutors other than Bragg himself.

Silencing Trump was necessary because of his “longstanding history of attacking witnesses, investigators, prosecutors, judges and others involved in legal proceedings against him,” prosecutors said.

Trump’s lawyers argued that a gag order would violate his right to free speech under the U.S. Constitution’s First Amendment, leaving him defenceless against attacks by political opponents over the case.

Ship’s Collision Crashes Major US Bridge After Mayday Call

Pilots of the cargo ship that crashed into a major bridge in the U.S. city of Baltimore, Maryland, issued a mayday call shortly before the structure collapsed into a river, enabling authorities to save lives, according to the state’s governor.

“We can confirm that the crew notified authorities of a power issue,” Maryland Governor Wes Moore told reporters Tuesday morning, hours after the incident. Moore said the Singapore-flagged container ship Dali had no power before smashing into one of two main columns supporting the Francis Scott Key Bridge and causing the bridge to collapse.

Moore said the crew’s warning enabled transportation officials to quickly halt traffic along the interstate highway crossing over the bridge. “These people are heroes. They saved lives last night,” the governor said. The ship’s crew also dropped its anchors in a futile attempt to avert the disaster.

Even so, eight people on the bridge,

reportedly all part of a construction repair crew filling highway potholes, were believed to have plummeted into the Patapsco River during the incident, which occurred at 1:30 a.m. Tuesday.

UK Court: Assange Can’t Be Extradited Until US Rules out Death Penalty

A British court ruled Tuesday that Julian Assange can’t be extradited to the United States on espionage charges unless U.S. authorities guarantee he won’t get the death penalty, giving the WikiLeaks founder a partial victory in his long legal battle over the site’s publication of classified American documents.

Two High Court judges said they would grant Assange a new appeal unless U.S. authorities give further assurances within three weeks about what will happen to him. The ruling means the legal saga, which has dragged on for more than a decade, will continue — and Assange will remain inside London’s high-security Belmarsh Prison, where he has spent the last five years.

Judges Victoria Sharp and Jeremy Johnson said the U.S. must guarantee that Assange, who is Australian, “is afforded the same First Amendment protections as a United States citizen, and that the death penalty is not imposed.”

The judges said that if the U.S. files new assurances, “we will give the parties an opportunity to make further submissions before we make a final decision on the application for leave to appeal.” The judges said a hearing will be held May 20 if the U.S. makes those submissions.

US Sanctions Assad Supporters over Drug Trafficking

The U.S. Treasury Department sanctioned 11 people and companies on Tuesday that it said were involved in illicit financial transfers and drug smuggling in support of the government of Syrian President Bashar al-Assad.

Many of those sanctioned were involved in the trade of the highly addictive amphetamine captagon, which is illegally trafficked throughout the Middle East and Europe, the Treasury Department said in a statement.

Syria has become the world’s leading producer of the powerful drug, and its trade has helped bolster the Assad government’s coffers during the country’s long-running civil war.

“The revenue from the illicit Captagon trade has become a major source of income for the Assad regime, the Syrian armed forces, and Syrian paramilitary forces,” the Treasury Department said in a statement.

Those sanctioned include a Syrian national called Taher al-Kayali, who allegedly operates a company that purchased vessels to smuggle captagon and hashish.

Maya Exchange Company, another Syriabased firm, is alleged to have facilitated “millions” of dollars of illicit transactions to benefit the Syrian government.

China Files WTO Dispute Against US over ‘Discriminatory’ EV Subsidies

China began dispute settlement proceedings against the United States at the World Trade Organization on Tuesday,

accusing Washington of “discriminatory” electric vehicle subsidies.

The subsidies, starting this year under the 2022 Inflation Reduction Act, render U.S. car buyers ineligible for tax credits ranging from $3,750 to $7,500 if certain battery components were made by Chinese, Russian, North Korean or Iranian manufacturers.

China’s permanent mission to the WTO said the policies are “under the disguise of responding to climate change,” but are “in fact contingent upon the purchase and use of goods from the United States, or imported from certain particular regions.”

According to a spokesperson for China’s Ministry of Commerce, Beijing has urged Washington to “promptly correct discriminatory industrial policies and maintain the stability of the global industrial and supply chains for new energy vehicles.”

In an online statement, the Ministry of Commerce said the subsidy restrictions excluded Chinese products but also negatively impacted the global supply chain and fair competition in the EV market.

Suicide Bombing Kills 5 Chinese Citizens in Pakistan

Police in northern Pakistan said Tuesday that at least five Chinese nationals and their local driver were killed when a suicide bomber rammed his explosives-laden car into their convoy.

The attack occurred on the main highway linking Pakistan to China.

Beijing swiftly denounced what it called a terrorist attack and demanded that Pakistani authorities bring the perpetrators to justice.

Local police officer Bakht Zahir told VOA an investigation into the “suicide blast” was underway.

No group immediately claimed responsibility for one of the deadliest attacks on Chinese nationals in recent years. Pakistani President Asif Ali Zardari condemned the attack and conveyed his condolences to the victims’ families and the government in neighbouring China.

Ex-President Bolsonaro

Stayed at Hungarian Embassy After Revelations of Coup Investigation

Lawyers for former Brazilian President Jair Bolsonaro are denying speculation that their client may have been attempting to evade arrest when he stayed at the Hungarian embassy for two nights last month.

The New York Times reported Monday on its website that Bolsonaro stayed at the embassy between February 12 and 14, highlighted by security camera video depicting Ambassador Miklós Halmai greeting the former president when he arrived at the embassy, Bolsonaro walking in the parking lot at various times, and ending with footage of him leaving the embassy. His lawyers issued a statement late Monday saying Bolsonaro was invited to stay at the Hungarian embassy to maintain contacts with officials of “the friendly country” and to share “updates on the

political situation of both nations.” They said any other interpretation about the visit is “fictional” in nature.

Bolsonaro is a close ally of Hungarian Prime Minister Viktor Orban, a fellow leader of a global far-right movement. Bolsonaro’s stay at the embassy came days after investigators seized his passports and arrested two of his aides on suspicion they plotted to ignore his loss to Luiz Inacio Lula da Silva in the 2022 presidential election and keep Bolsonaro in office.

Brazil’s foreign ministry summoned Halmai Monday night to explain why he hosted Balsonaro at the embassy.

UNICEF: Climate Change Leaves ‘Dire Situation’ for 45 Million African Children

The United Nations children’s fund says there is a “dire situation” in several eastern and southern African countries, where at least 45 million children are dealing with severe food insecurity made worse by climate change.

In a statement, Eva Kadilli, the UNICEF director for eastern and southern Africa, said millions of people are living through multiple and often overlapping crises intensified by the 2023-24 El Nino weather phenomenon, one of the strongest on record.Christiane Rudert, a nutrition adviser for UNICEF in eastern and southern Africa, told VOA that many countries in her region have very high rates of child stunting or acute malnutrition. She said the rates are getting worse because of extreme weather patterns associated with climate change, such as a prolonged heat wave and droughts.

South Sudan Opposition Parties Criticize New Election Laws

A new electoral regulation in South Sudan has received harsh criticism from opposition parties, which see the move as a way to lock them out of the forthcoming general election, which will be a first for the world’s youngest nation.

Key opposition parties in South Sudan have branded the contentious electoral law a government scheme to prevent them from participating in the upcoming December elections.

The Coalition of Opposition Parties petitioned the country’s Political Party Council Monday, demanding revocation of the $50,000 registration fee imposed on parties seeking to field candidates in the upcoming polls.

The world’s youngest nation is set to have its first democratically elected government in December this year.

But parties like the People’s Progressive Party, SSOA, Coalition of Opposition Parties, and United People’s Party now see the new registration fee as an attempt by the government to stifle democracy and restrict opposition parties’ participation in the polls.

Opposition politician Lam Akol is the leader of the National Democratic Movement (NDM) and had challenged President Salva Kiir in the first election held in 2010 when South Sudan was seceding from Sudan.

by BayO aKINlOyE
32 WEDNES Day, MaRch 27 2024 • THISDAY

Signing the enugu State univerSity of Medical and applied ScienceS teaching hoSpital Bill...

Nigeria to Kick-start ‘Roll Out Malaria Vaccines’ Initiative in Kebbi, Bayelsa States

onyebuchi ezigbo in Abuja

The federal government has announced that it would commence the ‘roll out of malaria vaccine’ in Kebbi and Bayelsa States this year after which the initiative would be deployed in the other parts of the country.

As part of renewed effort to eradicate the malaria scourge in the country, the government promised to work hard to reduce the prevalence of the disease to 10 per cent by 2025.

Speaking at a Media Chat organised by the National Malaria Elimination Programme (NMEP) in Abuja, yesterday, the National

Coordinator of the Programme, Dr. Godwin Ntadom, said government was targeting to achieve 10 per cent reduction in malaria prevalent in Nigeria by 2025.

He said the target could be achieved through hard work by the government and with the support of the media and other partners.

"We are working hard to achieve the set target of reducing malaria by 10 per cent prevalence by 2025. Not only that we have worked so hard to reduce malaria prevalence to a point where it will no longer be public health challenge. Some countries like Cape Verde have recently achieve this and it not impossible for Nigeria to achieve

this also,” he added.

Responding to a question on the latest prevalent rate of malaria in Nigeria, the Coordinator said although the government was yet to conclude report on malaria cases in 2023, there was every indication that malaria prevalence was on the decline going by the report of previous years.

Speaking on intervention programmes being implemented by government to curtail malaria scourge in the country, the Coordinator said the government has deployed new strategies including the provision of anti-malaria medicines.

"We distribute nets and we have

started seasonal malaria chemopreventive treatment especially in the northern part of the country where malaria prevalence is high and we have received very good commendation.

“I must tell you that the mortality in that region has reduced as a result of the interventions," he said.

The Coordinator said since malaria cases normally increases during raining season, adding that the ministry was intensifying the intervention programmes in order to halt malaria incidence.

He said the ministry was also distributing malaria nets in the other parts of the country.

"We are ensuring that children

Optiva Capital Delivers on Promise to Clients with Completion of Five-Star Resort in Grenada

The Chairman of leading investment immigration company, Optiva Capital Partners, Mr. Franklin Nechi, over the weekend joined the leaders of the Caribbean countries and other global captains of industry at an exclusive pre-opening ceremony for the newly-completed luxurious fivestar resort, Six Senses La Sagesse, easily the best hotel in Grenada. The resort was developed by Range Developments, a leader in luxury developments in the Caribbean, and one of the elite global partners of Optiva Capital for exclusive and bespoke investment opportunities for Nigerians and Africans across investment immigration, investment services and advisory, and international real estate.

Dignitaries at the high-profile event where Nechi was the only African invited to the occasion included the Prime Minister of Grenada, Dickon Mitchell; Prime Minister of Saint Kitts and Nevis, Terrance Drew; Governor General of Grenada, Cecil La Grenade; and Mohammed Asari, Chairman, Range Development.

According to a statement, others were the Chief Executive Officer of Six Senses International, Neil Jacobs; and Chief Operating Officer

of Intercontinental Hotel Group, Jorge Apaez.

The five-star resort, Six Senses La Sagesse enjoys a pride-of-place setting between the ocean and a protected cove on the southern part of the island, known for its spice and relaxed lifestyle. Suites and villas extend across 38 acres (15 hectares) within the natural topography of the land, with great effort given to ensuring space, privacy, and uninterrupted views over the turquoise sea.

Influenced by the region’s traditional architecture, the design language mimics a Caribbean village bursting with variety along the lagoon promenade and beach, with natural walkways through the gardens maintaining the connection to Grenada’s “Spice Island” heritage.

“With the completion of Six Sense resort Grenada on schedule by Range Developments, an award-winning developer of luxury resorts, Optiva Capital Partners has demonstrated its capacity to deliver on its promise to clients on Citizenship by Investment in Grenada,” the statement added.

In his reaction, Nechi restated that delivering on its promise to clients further deepens relationships

between Optiva Capital and its elite global partners for the benefit of their clients.

Grenada boasts one of the most appealing and robust Citizenship-byinvestment (CBI) programs globally. It maintains strong diplomatic ties with the US, the UK, and the EU.

Gaining access to the USA is not the only benefit one gets from obtaining a Grenada passport, it also gives visa-free travel to 143 countries including all countries of the European Union, United Kingdom, Singapore, Russia, and China.

Grenada stands out as one of the Caribbean nations offering a citizenship program that grants its citizens the opportunity to obtain an E-2 visa. By acquiring an E-2 visa, holders of a Grenada passport can reside in the United States indefinitely. As a citizen of Grenada, you will enjoy the benefits of the USA TREATY with Grenada, enabling you to establish a business, reside, and work in the USA alongside your family. You can also live and work in Grenada as a second home with zero hassles on global income tax, wealth tax, or inheritance tax.

“To get a Grenada passport, there

are two options, invest $220,000 in a government-approved real estate project. The property must be held for a minimum of five years before it can be sold or you make a non-refundable minimum donation of $150,000 to the National Transformation Fund.

“Optiva Capital Partners, the largest provider of second citizenship and residency services in Africa has assisted thousands of families in obtaining second citizenship and residency from Grenada and many other Caribbean countries, and also permanent residency programmes in USA, Canada, Portugal, and Greece,” it added.

The company has 21 branches across the country and provides excellent investment immigration, investment advisory, wealth management services, and international real estate for its esteemed clients who have trusted them with their investment immigration needs for over 13 years.

Working with its elite global partners, Optiva Capital has helped many families with their immigration and global access needs over the years and “has consistently done this with utmost diligence and professionalism.”

who are vulnerable segments of the society get adequate preventive treatment. In the same vein, we also provide preventive treatment for pregnant women,” he added.

The Coordinator further disclosed that the ministry of health was planning to introduce preventive treatment among school children on a pilot basis.

Speaking on the high cost of malaria drugs, he said “most of the drugs are imported,” adding that given the exchange rate variations the increase in prices were expected.

He however said malaria drugs are cheaper in government hospitals.

The Coordinator further revealed

that the malaria vaccine which Nigeria has subscribed to would soon be deployed in Kebbi and Bayelsa states as a pilot exercise.

Earlier in his remarks, the Head Advocacy Communication and Social Mobilisation of NMEP, Raphael Onyilo, highlighted the objectives of the interactive session, which according to him was to disseminate the right information on malaria prevention, diagnosis and treatment.

Also speaking, during the event, the Director, Programme Management, Oyeleke David tasked the media to sensitise the public on how to combat the health menace of malaria.

Wale igbintade

In light of Apostle Johnson Suleman's recent remarks alleging a generational curse afflicting the family of the late Access Bank Group Chief Executive Officer, Herbert Wigwe, the family has issued a response to rectify and counter the inaccuracies put forth in the video.

The family, labelled Suleman's assertions, as unsubstantiated and potentially detrimental.

They stressed the importance of religious figures exercising prudence and avoiding provocative statements that may intensify the anguish of those in mourning. In a rebuttal to Suleman's claims, a close member of the Wigwe family challenged the accuracy of his narrative.

While acknowledging the tragic loss of Herbert's elder brother, Osita in a car accident 27 years ago, the family member explained that the other individual referred to as Naomi who passed in a car crash involving then minister, Dapo Sarumi in 2000, in Apostle Suleman's sermon was not a sibling

of Herbert, but a distant cousin. Expressing profound sorrow over the dissemination of the erroneous account in mainstream media and social networking sites, the family appealed for restraint and empathy from both religious leaders and the general public during this period of deep mourning.

"In the wake of recent events, the family earnestly seeks the backing and prayers of the Nigerian community, emphasising the importance for pastors to prioritise providing comfort over engaging in conjecture or baseless assertions that could exacerbate existing distress," the statement added.

Wigwe alongside his wife Chizoba, first son Chizi and former Chairman of the Nigerian Exchange Limited, Bimbo Ogunbanjo, all met their end in the ill-fated flight that crashed along the California- Nevada border.

Herbert was dedicated to philanthropy, nation building, advocacy for children literacy and art.

More importantly, his commitment to Christian faith and active involvement in spreading the gospel were exemplary.

NEWS
THISDAY • WEDNESDAY, MARCH 27, 2024 33
To reduce malaria prevalence to 10% by 2025
L-R: Chief of Staff to the governor of Enugu State, Barr. Victor Udeh; Clerk to the Enugu State House of Assembly, Dr. Emma Udaya; Special Adviser (Legal) to the governor, Barr. Osinachi Nnajieze; governor of Enugu State, Dr. Peter Mbah; Speaker, Enugu State House of Assembly, Hon. Uchenna Ugwu; and the Secretary to the State Government, Prof. Chidiebere Onyia, during the signing the Enugu State University of Medical and Applied Sciences Teaching Hospital Bill into law by the governor at the Government House, Enugu, Tuesday.
We're
Under Generational
Wigwe's Family
Not
Curse,
Replies Apostle Suleman

LAi MOhAMMed ViSitS SAnwO-OLu...

Governor of Lagos State, Mr. Babajide

Okuama: Clark Laments Army Invasion of His Country Home in Kiagbodo and Father's Ughelli House

Sunday Aborisade in Abuja

Elder statesman and leader of the Ijaw nation, Chief Edwin Clark, has lamented the unprovoked invasion of his country home in Kiagbodo and his father's home in Ughelli, both in Delta State.

Clark, who raised the alarm at a Press Conference at his Abuja residence, said the soldiers forcefully broke into the two residential buildings allegedly in search of fleeing perpetrators of the Okuama massacre where senior and junior military personnel were gruesomely murdered recently.

He demanded the establishment of a commission of enquiry to probe the entire incidence.

Clark wondered why the Delta State Government was not being carried along in the military operation in the area, claiming that the attacks on his country homes would have been averted if the state government was part of the exercise.

He said, "A strong commission of enquiry should be set up by the Delta State Government to find out, who are the real perpetrators of the heinous crime."

The septuagenarian narrated how the destructive attacks were carried out on his home and that of his father.

"At about 6pm on Saturday, 23rd March, 2024, I got a telephone call from someone who identified himself as the commanding officer in the Nigerian Army, Division in Port Harcourt.

"He (the Army officer) said that a tracker of the Nigerian Army, had tracked one Mr. Vote, the community chairman of Okuama Community, whom the Army was looking for in respect of the killings of the 17 men of the Nigerian Army, to a house

in Ughelli.

"He (the commanding officer) said he and the military men had broken into the house, ransacked it, before they were informed that the house belongs to me, that he was very sorry and apologising to me on behalf of the Army.

"In my usual way and as a leader who is expected to condone as much as possible, I accepted his apology wholeheartedly, but told him that I do not own a house in Ughelli, that the house he is referring to, could be my father’s.

"I went on to sympathise with the Nigerian Army over the gruesome murder of the soldiers, an action I had condemned severally the moment I heard of it in the news.

"I assured him that we will all work within our powers to avail the security agencies with any available information that would unravel the whole thing and bring the perpetrators to book.

"We ended the discussion on a cordial note. It was not long after that, I was inundated with calls from my home, Kiagbodo, telling me how the army had invaded my country home by land and by air.

"That they came in about five trucks loaded with armed soldiers numbering between 30 and 40. They broke my house, used their legs to break open all the doors in the compound including the security door to my sitting room which was locked because I reside in Abuja.

"At the same time, flying their drone within the premises. Some of them went to the buildings behind the main house, and also broke all the doors that were locked. They matched out my staff living in those buildings, including lecturers at the university; made them to sit on bare ground.

"They also broke into my late brother, Ambassador Akporode Blessing Clark’s house, a man who served this country internationally in various capacities, including as Nigeria’s Permanent Representative to the United Nations and Permanent Secretary, Ministry of Foreign Affairs, as both of us share the same premises.

"They brought out his son almost naked, as the young man was taking a bath, when they stormed the house.

"All their phones were seized. The people had to identify themselves, and told them whose house it was, before they asked for my telephone number, which they said they will pass to their ‘oga’, before they all departed.

"One would have expected that at this juncture, a call could have been put to the Governor of Delta State, to inform him of what happened. "I immediately called back the commanding officer to tell him of the actions of his men. And he said he was aware, and that was why he called to apologise.

"Before continuing, let me play the devil’s advocate by stating that the army may not know that the house they went to in Kiagbodo is my country home.

"However, I feel very uncomfortable to conclude this recent incident with such theory, when I recall how men of the Tactical Squad of the Nigeria Police, attached to the Office

of the Inspector General of Police, on 4th September, 2018, at about 12 noon, stormed my house in Abuja in a bus load, fully armed.

"They came with a Search Warrant from a Magistrate Court in Abuja, bearing Mrs. Helen Clark, but with the address of my house on it, that they had come to search the house; that they had information that arms from the Niger Delta were being stock piled there.

"I identified myself, and told them that there was no one named Helen Clark, living with me in the house. I spoke with the then Deputy Inspector General of Police, Operations. But they insisted on carrying out their search.

"With a very clear conscience, I allowed them to go ahead with their mission. They took their time to search every space in the compound, including my bedroom, but found nothing incriminating.

"They wrote their report to that effect. I asked to be given a copy of the report, but the men who came for the search informed me that a copy can only be given to me if I went to their office.

"I detailed two persons to accompany them to their office, but they refused to give them the copy. I was told that I had to apply formally. I asked my lawyer to apply, which he did, till date, I do not have a copy of that report.”

FG Moves to End Gas Flaring in Nigeria by 2030

Michael Olugbode in Abuja

The federal government is moving to ensure that gas flaring ends in the country by 2030, with the Ministry of Environment and the National Oil Spill Detection and Response Agency (NOSDRA) saying it plans to ensure alignment with the aspiration.

The Minister of State for Environment, Dr Iziaq Salako made known the decision yesterday in Abuja at the national stakeholders engagement meeting on methane mitigation and reduction in Nigeria's oil and gas sector.

Methane, a potent greenhouse gas with significant warning potential compared to carbon dioxide, poses a major threat to the health and wellbeing of current and future generations and climate protection goals.

Reducing methane emissions,

especially in the oil and gas sector, according to experts will strengthen climate action and unlock benefits for public health, food security, and economic development.

Salako, in his speech, said practical steps were being taken to address methane emissions in the country. He noted: "Collaborative efforts of government institutions have led to the development of methane guidelines. In addition, the Federal Ministry of Environment through the National Oil Spill Detection and Response Agency will be commencing the periodic review of the plans of international and indigenous oil companies to ensure they stay on course to end routine gas flaring by latest 2030.

"Furthermore, Nigeria is poised to embark on methane reduction projects that will enable Nigeria's commitment to methane reduction and meeting net zero emissions by

Legal Experts Call for Amendment of NDDC Act to End Generated Controversies

One of the keynote speakers, Mr. Ebun-Olu Adegboruwa (SAN), who presented the topic: ‘Repositioning Legal Services for Optimal Impact in The Public Sector’, said: “We want to also ensure performance is also enshrined in the Amendment Act, especially in the aspect of abandoned project. That’s what I meant by ensuring proper amendment of the NDDC Act.

area should also be entitled to it (appointment). This formed the basis of discussion at the recent retreat organised for members of the Directorate of Legal Services of the NDDC held in Lagos recently.

“For abandoned project, there should be an amendment on the NDDC Act since there are now claims of other states producing oil for instance Anambra, Kogi, Lagos and others. Such amendment should be able to verify such status and decide whether to include or exclude them in the management board, and also, I

anticipated that the amendment will take care of appointments into the board because the current law agree on rotation among the oil-producing states. There are states that are producing oil that have never emerged as the managing director of the NDDC. I mean those matters should be specified and not left to the issue of doubt.”

The Senior Advocate of Nigeria frowned at the scale of corruption in the commission, lamenting that nobody has been prosecuted or arrested for any abandoned project.

“And it is a fact that those abandoned projects number in their thousands. I gave an example of a community in Ilaje Local Government Area (Aiyetoro), Ondo State, where shoreline embankment project was

awarded in billions of naira and paid. But nothing was done in the community, and it has been washed away. I believe the NDDC has been presently empowered by the National Assembly to perform on the mandate of the people of the Niger Delta area, to ensure that this present administration of the NDDC will abolish corruption and wastages, and prevent issues of abandoned projects, as well as collaborate with the Economic and Financial Crimes Commission (EFCC) and ICPC to prosecute those who have collectively stolen our collective patrimony and have not performed the task given the status of the personalities involved in the present NDDC,” the legal expert said.

2060. It is, therefore, reassuring to see initiatives such as the project methane mitigation and reduction in Nigeria's oil and gas sector, which is being initiated with today’s event. "This national stakeholders engagement event is expected to serve as a platform to discuss the complexities of methane mitigation and reduction within Nigeria’s oil and gas industry.”

The minister pointed out that President Bola Tinubu is committed to environmental sustainability and climate action in line with the multilateral environmental agreements that Nigeria is party to.

The Permanent Secretary of the ministry, Mahmud Kambari, said it was necessary to address methane emissions in the oil and gas industry as the stakes and opportunities are high.

Kambari said: “Let's harness our collective expertise, innovation,

and resources to drive sustainable development, foster economic growth, and enhance energy security in Nigeria and beyond.

"As we engage in today's discussions, let us be guided with openness and inclusivity. challenge assumptions, and explore creative solutions that align with the principles of equity, justice, and environmental integrity."

In his remarks, the Executive Director of the Africa Policy Research Institute, Dr Olumide Abimbola, noted that there was a need to address the pressing impacts of methane emissions on climate and environment.

Abimbola, who was represented by Chibuikem Agbaegbu, stated that methane, a potent greenhouse gas, poses a significant threat to both the health of our planet and the well-being of current and future generations.

EKEDC Appoints Rekhiat Momoh Acting CEO

The Eko Electricity Distribution Company (EKEDC) yesterday, announced the appointment of Mrs. Rekhiat Momoh, as its Acting Chief Executive Officer.

She assumed office yesterday. Her appointment, according to a statement yesterday, followed the redeployment of its erstwhile MD/CEO, Mrs. Tinuade Sanda back to WPG Ltd, the core investor who seconded her to Eko Disco.

“Mrs Momoh has been in the power sector for more than 31 meritorious years. She has risen through the ranks in the power sector from the days of NEPA, PHCN and now Eko Disco, receiving several excellence awards,

commendations and medals along the way.

“A consummate marketing professional by training, she holds an MBA from Lagos State University. She's a fellow of several professional bodies including Nigeria Institute of Management, National Institute of Marketing of Nigeria and several others. She has attended several leadership and management courses and training programmes both locally and internationally.

“We have great confidence in her ability to perform this role effectively and take the company to greater heights,” the statement added.

34 WEDNESDAY, MARCH 27, 2024 • THISDAY NEWS
Sunday Okobi Legal experts have called for a proper amendment of the Niger Delta Development Commission (NDDC) Establishment Act “because of the controversies which the Amendment Act has generated. They stated that it should be made public through the amended Act of the commission if the appointment into the NDDC should be strictly to the region, or whether people from the non-oil producing
Sanwo-Olu (right) making his remark when Alhaji Lai Mohammed (left) led the management team and Advisory Board of Bruit Costaud on a courtesy call, at the Lagos House, Ikeja, ... yesterday.

NIGEr DEltA MINIStEr ON wOrkING vISIt tO IMO GOvErNOr...

L-R: Deputy Governor of Imo State, Lady Chinyere Ekomaru; Governor Hope Uzodimma of Imo State and Minister of Niger Delta Development, Engr. Abubakar Momoh, when the minister and his team paid a working visit to Governor Uzodimma at the Government House Owerri... yesterday.

PDP to 26 State Chairmen: Your Tenures Expire Soon

Abducted Edo chair regains freedom after 11 days in captivity

The National Working Committee (NWC) of the Peoples Democratic Party (PDP), yesterday, served notice to 26 states party Chairmen whose tenure of offices have expired or would be expiring soon.

This came as the kidnapped chairman of the party in Edo State, Tony Azigbeme, has been released by his abductors Giving notice to the state party chairmen, National Organising Secretary of the party, Umar Bature,

said, "We are here to review the tenure of about 26 states, in terms of ward, local government and State. “If you recall most of the current executives in the states were elected four years ago, where Congress were conducted on a staggered basis due to the COVID-19 issues.

"We have about four-five states that their tenure has expired from the ward to the state, that is Edo, Bayelsa, Gombe and Rivers State, there are others which are staggered. So in order not to Create vacuum or go into crisis, that is why we have called this meeting.

“Also, we have issues and crisis in these states we decided to call you for this meeting to interact with you on the way forward pending when the NEC will seat and decide on all these," he explained.

According to Bature, "Also, if there are vacancies due to death and resignation, please don't replace any name, don't fix another person for issues that will come up latter. If this meeting decides that everybody will go as caretaker, leave the EXCO the way they are.

"After the elections we expected the state chapters to give us their

reports, that is the post 2023 election result. A lot of the states have not submitted their reports and we need those reports to be compiled for the next NEC meeting."

On the internal crisis rocking the party, he said there were lots of agitations coming from party members, and advised that some members be suspended.

"Suspend this, suspend that, you are the ones that are in charge of those states. You are to tell us who did anti-party and who did not do anti-party, based on that, NEC will take decision. Write to us and

Rivers Crisis: Wike Loses More Supporters to Fubara

Blessing Ibunge in Port Harcourt

The Minister of Federal Capital Territory (FCT), Nyesom Wike, might be facing serious leadership challenge, as some of his close supporters have started pulling out of his camp to enlist support for Governor Siminalayi Fubara.

tell us what transpired, no matter what happened," he said.

Meanwhile, Aziegbemi, chairman of the Edo PDP, has been released from captivity.

On March 15, Aziegbemi was kidnapped at the GRA area of Benin city, Edo State, while returning from a meeting with Godwin Obaseki, Governor of Edo.

The kidnappers reportedly contacted the family of the PDP chair to demand the sum of N500 million as ransom.

But in the early hours of yesterday, Aziegbemi reunited with

his family after he was released.

In a statement by Clem Aziegbemi, released on behalf of the family, the PDP leader was released unhurt.

“As a member of the Aziegbemi family, we say thank you all for your great show of love and solidarity with us all through the period of the abduction of our beloved son, brother, cousin, and leader, Dr Tony Aziegbemi.

“Thank you, all… We are most grateful for all your valuable contributions through prayers and steadfastness. God bless,” he said.

For instance, one of his close allies, and member representing Ikwerre/Emohua Federal Constituency at the House of Representatives, Hon Boniface Emerengwa, recently pledged loyalty to the government of Fubara.

suring them that his government would never be distracted from delivering on its promises to Rivers people.

Fubara, too, had accepted the pledge from Emerengwa and other political big wigs in the state, as-

Other National Assembly lawmakers, who paid solidarity visit to the governor at the Government House, Port Harcourt, Monday evening, included Anderson Allison (APC-Okrika/Ogu/Bolo), Boma

Tinubu Approves Dualisation of Ado-EkitiIkere-Akoko Road After Students’ Protest

Gbenga Sodeinde in Ado Ekiti

Barely a day after hundreds of students and staff of the Federal Polytechnic, Ado Ekiti, staged a protest to show anger on the deplorable state of the Ado-Ekiti-Ondo/Abuja road network, the federal government has approved commencement of its dualisation.

Senate Leader, Opeyemi Bamidele, made the disclosure yesterday in Ado-Ekiti via a statement.

According to him, the federal government had approved the dualisation of the said road network which is about 31 kilometer long.

He said the construction work on the road project would commence soon.

The Federal Polytechnic, Ado road is also a linkingimportant institutions such as the State Government College, Ado-Ekiti, the Federal Silos Centre, the State Cargo Airport under construction, and Afe Babalola University, Ado-Ekiti, ABUAD, and its 400-bed Multi-System Hospital.

The protesters, in their large numbers had Monday prevented both commuters and motorists alike, from passing across the road, thereby causing heavy traffic congestion, which made all road activities to be on a standstill for the greater part of the day.

But, Bamidele who recounted how thousands of students of the polytechnic trooped out to protest the deplorable condition of the road, listed Ado-Ekiti-Ikere-Akoko road, a 31-kilometre highway that connects Ekiti State to Federal Capital Territory through Ondo, Edo and Kogi States as approved for construction by President Tinubu.

According to the senate leader, the protesting students did not know the federal government had already awarded the contract to dualise the 31-kilometre road.

The highway, according to Bamidele, was equally captured in the 2024 Appropriation Act purely enacted to implement strategic infrastructure projects that would create limitless opportunities for Nigerians across 36 states of the federation.

Bamidele, who spoke about the road reconstruction during a feedback session with one of the country’s foremost legal icons and Chancellor of Afe Babalola University, Ado-Ekiti (ABUAD), Aare Afe Babalola in Ado Ekiti added that, “The Ado-Ekiti-IkereAkoko, one of the 12 federal roads connecting Ekiti State to Kogi, Kwara, Ondo and Osun States, has suffered neglect even before democratic transition in 1999.

"Among others, the roads include Ifaki-Otun road, Ifaki-Ilasa-Omuo

road, Ado-Ikere road, Ado-Ijan-Ikare road, Ado-Iyin-Aramoko road, Aramoko-Efon-Ijebu Jesa road, Efon-Iwaraja and Otun-Erinmope-Odo Owa road.”

Bamidele revealed that the dualisation of the Ado-Ekiti-IkareAkoko road was captured in the 2024 Appropriation Act and its reconstruction would commence before the end of this financial year.

Goodhead (PDP-Asari Toru/Akuku Toru), Awaji-Inombek Abiante (PDP-Andoni/Opobo/Nkoro) and Umezuruike (Labour-Port Harcourt I).

Emerengwa explained that he was throwing his total support and loyalty to the Fubara administration because it was undisputable that the governor was both the leader of the PDP and the state.

Emerengwa said he had come to the realisation that it was unnecessary and futile to continue to struggle and fight over who controls the party and leads the State when the party and the nation's constitutions were clear on the issue.

The former chairman of Ikwerre Local Government Area said Rivers people had made their choice through their votes and gave their mandate to governor Fubara.

According to him, having secured electoral victory on March 18, 2023, affirmed by the Supreme Court, Fubara had become the number one citizen of the state.

You Can’t Underestimate Power of Word as Stabiliser, Shettima Warns

Olawale Ajimotokan in Abuja Vice-President Kashim Shettima has said the power of a word to stabilise or disrupt a nation, could not be underestimated.

He said this yesterday at the opening of the 1st National Spokespersons Summit, organised by the Nigerian Institute of Public Relations (NIPR) and the Ministry of Information and National Orientation.

He noted that the maiden summit of spokespersons was a timely intervention in a world where lies and propaganda vied for dominance amid the complexities of daily existence.

According to him, the summit was an invitation to spokespersons to partner the government in crafting the right narratives to change the Nigerian story and reinvent the society.

Kano Court Sentences Chinese National to Death By Hanging for Killing Girlfriend

A Kano High Court has sentenced a Chinese National, Frank GengQuangrong, 47, to death by hanging for stabbing his Nigerian suitor Ummukulsum Sani, 22, to death.

In his judgment, yesterday, Justice Sanusi Ado-Ma’aji, said the prosecution counsel had proven its case beyond reasonable doubt that the defendant’s testimony was inconsistent.

The judge concluded that the defendant intentionally killed the deceased by entering her home without invitation.

Justice Ma'aji explained that the defence counsel, Barrister Muhammad Dan'azumi, could not establish a claim of self-defence, as the stabbing occurred in the neck extra-judicially.

The judge further recommended that the Committee of Prerogative of Mercy may look into the Quangrong's case if they so wished, by the provisions of Section 113 of the Administration of Criminal Justice Law, Kano 2019, as prayed by Defense Counsel Barrister Muhammad Dan'azumi.

In response to the judgment, the Kano State Attorney General, Bar-

rister Haruna Isa Dederi, described it as a landmark decision for the state.

Defence counsel, Muhammad Dan'zumi, stated his intention to appeal the decision at the Court of Appeal, citing grounds for appeal found in the judgment.

Geng-Quangrong committed the offence on September 16, 2022, at Janbulo Quarters, when he stabbed Sani with a knife in her house over a disagreement. The victim was rushed to the Murtala Muhammad Specialist Hospital Kano, where she was confirmed dead by a medical doctor.

“Each one of us is as good as our image. This image can be reversed or distorted, but that's the essence of image-building. The stories revolving around each person or entity are derived from the conversations about and surrounding them.

“This reality makes those charged with speaking for them just as powerful as the subjects they represent. This makes you the most powerful force in the maintenance of social order. So, I am truly honoured to join this gathering of the shapers of the world as we know it.

“In the life of a nation, the power of a single word to stabilise or disrupt cannot be underestimated. Therefore, it is crucial that as we exchange ideas, as we share knowledge, and as we build relationships, we do so within a framework of order, not chaos,” Shettima said.

The vice-president said as a government, they recognised that falling prey to false narratives and targeted agendas was inescapable as they were usually aimed at undermining and misrepresenting one’s ideas or perceptions.

He stressed that the importance of diligent and objective communication was never more evident than when confronted with the deceptive tactics of fake news merchants, who dedicate their lives to casting shadows on noble efforts and aspirations to inform and enlighten the world.

He, however, reiterated President Bola Tinubu’s belief in citizen communication and engagement that Nigerians must by right and necessity be well-informed, accurately and in a timely manner, considered the most practical antidote to the waves of partisan and sectional agendas promoted by hacks invested in tearing the nation apart.

NEWS THISDAY • WEDNESDAY, MARCH 27, 2024 35
Ahmad Sorondinki in Kano Chuks Okocha in Abuja and Adibe Emenyonu in Benin City

9TH EDITION OF THE AGROFOOD...

Tinubu Appoints Maj-Gen Laka National Coordinator for Counter-Terrorism Centre

FG mulls new strategy as ministers, service chiefs, others meet Slain military personnel for burial today

Deji Elumoye and Kingsley Nwezeh in Abuja

President Bola Tinubu has approved the appointment of Major-General Adamu Garba Laka as the new National Coordinator of the National Counter-Terrorism Centre under the Office of the National Security Adviser.

Also, yesterday, the federal government, said it was working on a new counterterrorism strategy, following the state of insecurity in

the country.

This position was disclosed as ministers, service chiefs, military Joint Task Force Commanders gathered in Abuja in furtherance of government's decision to evolve a new approach to the fight against insurgency.

At the same time, the Nigerian Army has said the remains of the 18 military personnel killed in Okuama community in Delta State, would be buried today at the National Cemetery, Abuja, at 3pm. This was disclosed in a statement

Otti: Our Economic Programme Structured to Achieve Balanced Economic Development

Emmanuel Ugwu-Nwogo in Umuahia

Abia State Governor, Alex Otti, has expressed his commitment to implement a holistic development agenda, saying the economic programme of his administration "is structured to achieve balanced development" of the state.

He stated this at the flag-off ceremony of the 11km Nunya-Eluama road in Isuikwuato Local Government, off Enugu Port Harcourt expressway.

The event, which attracted many stakeholders from Isuikwuato, including the former Chief of Army Staff (COAS), Lt Gen Azubuike Ihejirika, underscored the importance of the abandoned road to the economic growth of the area.

Otti said his government was being "very strategic" in its approach to governance in order to carry every segment of the state along and achieve even development.

He noted that aside from the road reconstruction projects going

to bring in dairy products, milk products and its derivatives, only six and we believe that this is only oligopolistic at its best and that in any case, we should not constrain anybody that wants to come to the foreign exchange market to purchase foreign exchange from doing so.”

He said, “It is not our responsibility. It's not our job to do that. We should leave the market open, and transparent and let those who are in a position to deal in a particular area do so. Certainly, we will not ban them from the foreign exchange

on simultaneously in Umuahia and Aba, he had entered the rural communities to extend the infrastructure development to them.

The Abia governor explained the necessity for improving the rural infrastructure as location of some ventures were specially suited for the rural communities while some could only thrive in the urban centres.

"For us, every part of Abia is important in the new Abia," he said, adding that with good infrastructure in the rural areas, farmers would have easy access to the cities to market their produce.

Otti assured the people of Isuikwuato that the Nunya-Eluama road connecting the communities to the rest of Isuikwuato and linking them to the Enugu-Port Harcourt expressway, would be reconstructed to the highest quality in the next 12 months or less.

In his remarks, Ihejirika expressed his excitement that the long abandoned road was going to be reconstructed to ease the the consuming rigours that people encounter on the road.

market. We will not restrict that market to just six players we will not do so.”

Meanwhile, a former Commissioner for Finance in Imo State and Director of the Institute of Capital Market Studies (ICMS) at Nasarawa State University, Keff (NSUK), Prof. Uche Uwaleke, has urged the MPC of the CBN to adopt an incremental approach to MPR tightening.

Reacting to the outcome of yesterday's meeting of the MPC, Uwaleke, who is Nigeria’s first professor of capital market, observed that the challenge currently facing

posted on the Nigerian Army’s X handle on Tuesday.

However, Tinubu, in a statement by his Media Adviser, Ajuri Ngelale, expected General Laka to bring his vast experience into this critical role to effectively remove security threats through pre-emptive, proactive, and diligent counter-terrorism coordination.

Laka had served in various capacities in the North-East, Nigeria, where he deployed tactical means to degrade terrorist groups.

He also served in Sierra Leone and the Democratic Republic of Congo under the United Nations and was part of the Nigerian contingent in the US AFRICOM exercise in Senegal.

He holds master's degrees in National Security from the National Defence University, Pakistan, and in International Affairs and Strategic

Studies, Nigerian Defence Academy.

Meanwhile, speaking at the 2nd Edition of the Chief of Defence Staff Joint Task Force Commanders Conference 2024 at the Defence Headquarters, the Minister of State for Defence, Bello Matawalle, said the meeting which included ministers, service chiefs, military commanders and former service chiefs, was designed to develop a new strategy to contain insecurity.

"You know the situation in the country. This conference indicates the seriousness of government and the armed forces and we assure Nigerians that what we are doing here is to model a new security strategy so that we can confront the enemies of this country. As you can see, all the theatre commanders are here.

“All the service chiefs are here including ministers and minister of foreign affairs, minister of interior so

that we can develop a new strategy to tackle the insecurity bedeviling this country," he said.

The minister stated that the gathering served as "an opportunity to note significant strides we have made in safeguarding the lives and properties of our citizens as well as reflecting on lessons learnt from errors made in our various theatres of operations.

"The constantly revolving dynamics of the security challenges we are facing require corresponding strategies that will incorporate a holistic and integrated approach to warfare where synergy among our services is paramount," he emphasised.

In his remarks, the Chief of Defence Staff, Gen Christopher Musa, said the conference "provides an avenue for comprehensive evaluation of the implementation of the

decisions reached during the maiden conference and other emerging issues, with a view to addressing the threats to our national security.

"Importantly, I would like to recognise the uncommon sacrificed of the officers and men who were killed in Okuama, in Delta State, as well as express my earnest gratitude to all personnel of our Armed Forces," he said.

He said the conference themed:

"Consolidating Operational Successes Across all Theatres of Operation" underscored the critical importance of jointness, cooperation collaboration in our collective resolve towards addressing multidimensional challenges to our national security.

"The insecurity in our country is mutating, resilient and cannot be treated in isolation of the prevailing challenges in the global security environment.

ECOWAS Seeks Improved Collaboration to Curb Humanitarian Crisis in West Africa

Michael Olugbode in Abuja

The Economic Community of West African States (ECOWAS), has called for improved collaboration among member states to help ease the suffering of persons displaced by worsening humanitarian crisis in West Africa.

The Commissioner, Human Development and Social Affairs, ECOWAS, Prof. Fatou Sarr, made the call yesterday while addressing representatives of member states at the opening of a three day workshop on ECOWAS Response to Persons of Concern (PoCs-IDPs, Refugees, Returnees, Stateless People, Asylum Seekers and their Host

the Nigerian economy was not just inflation, but stagflation, admonishing that the MPC should equally have regard to growth concerns in its future meetings.

Uwaleke, noted that much as tightening was necessary at this time in view of elevated inflation, the MPC should tighten policy incrementally and in a measured manner that optimises the CBN's policy tool kit without undue reliance on the monetary policy rate.

He said: "The decision by the MPC to increase the MPR by 200 bps makes it a total of 600 bps in

Communities holding in Abuja Sarr, who was represented by the Director Humanitarian and Social Affairs, Dr. Sintiki Ugbe said, “In 2024, the data and information collated from the region, have shown that population displacement resulting from varied humanitarian events, especially conflicts, have contributed enormously to the worsening of the humanitarian situation.

“Key figures shared by United Nations High Commissioner for Refugees (UNHCR) on displacement as of December 2023 show that 6,919,306 are forcibly displaced of which 6,284,384 are IDPs, 634,922 are Refugees & Asylums seekers. UNHCR 2024 report, has put the

just one month if one adds the 400 bps delivered in February.

"This is in addition to a very high CRR of 45 per cent representing sterilised Bank deposits.

"This development is now driving undue pressure by banks on the CBN's Standing Lending Facility and increasing cost of funds generally.

"The CBN should recognise that the challenge currently facing the Nigerian economy is not just inflation but stagflation and to this end should equally have regard to growth concerns in future meetings of the MPC."

figures of stateless population in the region at over 931,000," she said.

On the worsening situation, she said, “In response to the increasing humanitarian events in the region, the ECOWAS Commission has constantly developed and reviewed its strategies in collaboration with member states and relevant partners in line with its principal mandate of assisting member states to reduce the suffering of populations affected by humanitarian emergencies and affected communities.

"In this regard, the Humanitarian and Social Affairs Directorate has developed an inclusive strategy where member states and relevant partners determine the humanitarian needs of our populations as well as the affected communities.

"This gives ownership to the member states and affords ECOWAS the opportunity to coordinate and monitor the implementation of the assistance to the utmost benefit of the affected communities and populations.”

Yusuf Nominates Kwankwaso's Son, 3 Others as Commissioners

Ahmad Sorondinki in Kano

Kano State Governor, Abba Kabir Yusuf, has nominated Mustapha Rabiu Kwankwaso, son of the former New Nigeria Peoples Party (NNPP) presidential candidate, Rabiu Musa Kwankwaso, along with three others, as Commissioners. He has also sent the list to the State House of Assembly for confirmation.

Speaker of the Kano State House of Assembly, Jibril Falgore, who confirmed the nomination at plenary, said the screening of the commissioner-nominees would begin early next week.

Others on the list included Adamu Aliyu Kibiya, Usman Shehu Aliyu, and Abduljabbar Garko. Yusuf had warned all the commissioners that their appointments were based on six months probation.

"I am reminding you that your appointment is on probation of six months period after a monitoring and evaluation team under my headship will be monitoring the performances of the Ministries," he then said.

He however, promised to reward the best-performing commissioners, while those who underperformed would be pulled out of his government.

36 WEDNESDAY, MARCH 27, 2024 • THISDAY NEWS
R-L: Martins Maerz, founder, Fairtrade Messe (organisers of the show); Alexander Isiong, president, Organisation for Technology Advancement of Cold Chain in West Africa; Olusegun Obasanjo, former Nigerian president; Paul Maerz, MD, Fairtrade Messe; and Odion Aleobua, Nigerian partner, CEO, Modion Communications, at the opening ceremony of the 9th edition of the Agrofood and Plastprintpack, in Lagos, ... yesterday.
CBN Dou B le S Dow N o N Mo N e TA rY T I g HT e NIN g, Ag AIN , rAIS e S MP r To 24.75% To Cur B I N fl ATI o N

Alake Lauds $600 Million Iron-Ore Mining, Processing Facility in Kaduna

Folalumi Alaran in Abuja

The Minister of Solid Minerals Development, Dele Alake, yesterday declared value addition as the irreducible standard for mining operations in the country.

Speaking during an inspection tour of the gigantic $600 million

African Natural Resources and Mines Limited (ANRML) facility, in Kaduna state, that hosts the mining and processing of magnetite iron-ore, the minister hailed the tenacity and foresight of the investors to build what is touted as one of the biggest foreign investments in the mining sector.

According to Alake, the company aligns with his vision of value addition and beneficiation through its processing of iron-ore, urging other mining companies to take a cue from it. He restated the position of the federal government to refrain from granting mining licenses to companies without requisite plans for value addition. Drawing parallels between the experience of ANRML and the economic situation in the country, the minister asserted that the same ingredients of resilience, courage and laying of a solid foundation that the made the company a success

Fubara Approves N80.8bn for Fresh Road Projects in Rivers

The Siminalayi Fubara-led Rivers State Government has approved the sum of N80,886,404,836 for the construction of the 33.5km long Elele-Omoku Road project.

The approval of the fund was made yesterday, at the State Executive Council meeting presided by Fubara, alongside his Deputy, Prof Ngozi Odu.

At the meeting, the council approved a 24-month completion period for the project which is expected to traverse three local government areas of the State, including Ikwerre, Emohua and Ogba/Egbema/Ndoni.

Speaking with journalists immediately after the meeting, the Permanent Secretary of the Ministry of Works, Mr Atemea Briggs, said the project will be funded from the savings made from the Internally

situation.

Generated Revenue (IGR) of the State Government.

Briggs said: "The project starts from Elele to Umudioga, Egbeda and Ubumini to Omoku. The total length of the project is 33.5 kilometres. There is an existing road there which is just 7.3 meters width, but the government wants to ‘dualise’ this road.

"The proposed road width now is 7.8 meters to be asphalted fully with a road shoulder of 2.5 meters width.

I will like to mention that along this road, we have several kilometres of low land, wherein to build a road shall require replacement, filling of the ground by more than 3 meters high."

According to Briggs, the contractor can only be achieved through hydraulic sand-filling and using laterite.

He said: "The road is also having a bridge of 99 meters long to be built

side-by-side the existing one between Egbeda and Omoku. The cost of the project is N80,886,404,836.45k only. It is awarded to Craneburg Construction Company. The delivery period is 24 months."

On his part, the Commissioner for Information and Communications, Joseph Johnson, reiterated that the 33.5km Elele-Omoku Road project will be funded with savings from the IGR, a payment method that will also be adopted for the phase two of the Trans-Kalabari Road project.

Furthermore, he stated: "Council also will be setting up a five-man committee made up of commissioners of Agriculture, Urban Development, Permanent Secretary of Lands and Surveyor-General of the State to deal with the issues of land grabbing.

"All that will be put together

within the week, and council will also provide all the necessary requirements for that committee to conclude its job within record time.

"It is important that I mention that the money for the construction of the 33.5km road is from our savings. This is important because most people will be asking what we are doing with our IGR.

"These are money we will use, accrued from our savings. This approach is what this government will be adopting to fund the phase two of Trans-Kalabari Road project, which will soon commence."

In her clarification, Acting Director- General of the State Bureau of Public Procurement, Ine Briggs, said that all the road projects being undertaken by the government scaled through due diligence and quality assurance and had been certified for delivery to Rivers people.

T I nubu: We Mu ST Tre AT K ID n A pper S AS Terror ISTS , T H e Y 're Co WA r DS is clear that the federal government at the highest level knows what is going on, at least, the intelligence community has an idea.

“Zamfara has become the center of banditry as we speak today, and if nothing is done in Zamfara State, I don't think we will be able to solve the situation in the entire northern Nigeria."

He confirmed that the abducted Kuriga school children and few other victims of banditry were rescued in Zamfara State thereby spurring the state to be more proactive to change the narratives.

“Most of the guys or the girls kidnapped in Kaduna State, ended up in Zamfara State. That is not good for us, and therefore, we're doing everything to change the narratives and that is one of the reasons I came to see the president today.

"That is why I am here today. I have informed Mr. President and I have his assurance that something drastic will be done to take care of the situation as soon as possible," he said.

Lawal noted that governors did not have control over the Nigerian

military and the police, hence it remained the responsibility of the federal government to issue directives to police and security personnel.

He said, “As you are fully aware, we as governors, we don't have control over the military as well as the police. It is the responsibility of the federal government.

“Therefore, at any point, we need to inform Mr President so that we can get his blessing either to direct them or to do something else that will help them take care of that situation."

He also explained that the Community Protection Guard recently launched by the Zamfara State government was intended to collaboratively work with the military and the police, adding that they had a better understanding of the terrain.

Lawal noted that, “Like you rightly pointed out, last month, we launched what we call the Community Protection Guard and these are people that are well-trained to take care of the security situation, together

with the security operatives.

"They go out on their own on operation, they go together, either with the military or the police. And let me say this, these people are expected to understand the terrain better than even the military and the police."

Kukah to FG: Interrogate Persons with Claims of Ties with Bandits

The Bishop of the Sokoto Catholic Diocese, Matthew Kukah, has expressed concern over the spate of kidnappings in schools, saying the federal government must start interrogating persons with claims of ties with bandits.

Kukah, who raised questions about federal government’s failure to investigate individuals claiming ties with bandits, said the abduction rate could have psychological effect on the children.

In an interview on a television programme in Abuja, Kukah, said, “It

“There are key Nigerians, who are saying openly that they know more than they think the rest of us know, and I think that it is the business of the federal government to find out those who claim to know where the bandits are, those who are collaborating with the bandits.”

Gumi: Meeting with Security Productive

Controversial Islamic cleric, Sheikh Ahmad Gumi, yesterday, confirmed his interaction with security agencies, stating it was not only productive, but also without animosity.

He however, did not confirm the reason the security invited him to a meeting but said only the innocent was above the law.

story are critical factors guiding the economic restructuring of the present administration, expressing optimism that it will culminate in economic transformation.

" I want to use you, the African Natural Resources and Mines Ltd., as a concrete example of what can happen when you set your mind to it. We have set our minds in this administration and invariably in Nigeria to achieve success, that's why Mr. President is restructuring the economy.

“When this company started seven years ago, we saw one of the foundations through the video documentary, the amount

of concrete that went in to erect a foundation, just to carry a giant edifice. That's what we are going through. When we get through the gestation period, the results will manifest, and it will herald prosperity," Alake added.

In her submission, the Minister of Industry, Trade and Investment, Dr. Doris Azoka-Aniete, also lauded the company for its giant stride in iron ore production and processing. She stressed that the company will be part of the nation's efforts to scale up local steel manufacturing and local manufacturing of automobiles through the Nigeria Automotive Industry Plan.

Edo: We Have Secured 40 New Licenses for Solid Minerals, Ready for Investors

Obaseki says children’s literacy, numeracy rates now at 70%

The Edo State Government has said that it has secured 40 new licenses for solid mineral deposits in the state through Associates Mining and Investment Company, a Special Purpose Vehicle (SPV) promoted by the state government.

The Commissioner for Mining and Energy, Hon. Enaholo Ojiefoh, who disclosed this in a chat with journalists, said the state took the bold step to acquire the licenses so that it is not short-changed in the drive for industrialisation.

He noted that the state will rent the licenses to interested private investors to exploit the mineral deposits in the state.

He said: “Upon getting the licenses, we went back to the drawing board. We engaged with the Community Development Associations (CDAs) in the communities where these solid minerals are found.

“Between December and January this year, we have received not less than 14 visitors, who are all interested in bringing their money in.

“The governor has asked that this has to be transformed into money. So, we are looking at industrialisation. A Commodities Trading and Mineral Analysis Centre is being completed in Dangbala in Akoko Edo. We have had to train our staff working with a research team from the universities.

“We have professors in geology, geophysics, industrial chemistry and biochemistry working with us on the project. We have staff across the state working on identifying more minerals also.

“We have deposits of kaolin in Ubiaja, in Edo Central Senatorial district of the State. We have gypsum in Warrake as well. The state is blessed and we are looking to drive investment with these deposits.”

Meanwhile, the Edo State Governor, Mr. Godwin Obaseki, has said children’s literacy and numeracy rates in the state are now at 70 per cent, and at par with their peers in Europe and Asia.

Obaseki, who spoke in a chat with journalists, noted that the 70 per cent is far more than the national percentage which is 30 per cent.

The governor said this was achieved by building a resilient education system over the past seven and half years through the Edo State Basic Education Sector Transformation (EdoBEST) programme.

He explained that when his administration came on board, the state’s educational system had collapsed, which necessitated the urgent need for a holistic reform in the education sector to tackle learning poverty by leveraging technology to improve learning outcomes.

Blessing Ibunge in Port Harcourt
Continues online
Mines Limited (ANRML) facility, in Kaduna State...yesterday

ALTERNATIVE FUNDING ON THEIR MINDS…

L-R: Vice Chairman, Capital Market Correspondents Association of Nigeria (CAMCAN), Mr. Friday Ekeoba; Managing Director, Splitar Limited, Folagbade Adeyemi; Chairperson, CAMCAN, Mrs. Chinyere Joel-Nwokeoma; and Head Marketing & Corporate Communications, VFD Group, Muyiwa Olowoporoku, during the CAMCAN Quarterly Forum hosted by VFD Group in Lagos…yesterday

NSCDC Uncovers 10 Illegal Refineries, Arrest Five Suspects in Rivers

Again, EFCC Arrests Five for Illegal Mining Activities in Kwara

Operatives of the Nigerian Security and Civil Defence Corps (NSCDC) have uncovered 10 illegal oil bunkering sites in a forest at Odagwa community, Etche Local Government Area of Rivers State.

Similarly, operatives of the Ilorin Zonal Command of the Economic and Financial Crimes Commission (EFCC) have again arrested five persons for possession and conveyance of three truckloads of assorted solid minerals mined without licence.

community where so many illegal constructed oil reservoir was uncovered.

However, during a visit to the sites yesterday by the officials of

Few weeks ago, the General Officer Commanding, 6 Division, Nigerian Army, Major General Jamal Abdussalam, led a team to a different section of the same

Gunmen Kidnap Islamic Cleric in Kogi

Ibrahim Oyewale inLokoja

Suspected gunmen have abducted the Chief Imman of Iyara Sheikh Quasim Musa at his residence in Iyara, Ijumu Local Government Area of Kogi State.

This development , it was gathered has sent jitters to the spines of the residents of the town since Monday night as they can no longer sleep with their two eyes closed.

THISDAY learnt that the Islamic cleric was Kidnapped on Monday night outside his house at Ilukpa area of Iyara, the headquarters of Ijumu Local Government Area.

Eye witness account explained that the gunmen who came in a commando style started shooting sporadically before taking their victim to an unknown destination.

A family source, who spoke to journalists on condition of anonymity, said they are yet to get any information from the Kidnappers.

The family source said: “Dear compatriot sons and daughters of Iyara land, it is sad to announce to you all that our Community had its own share of the current insecurity bedeviling of nation on Monday 25th, March 2024.

Ondo Amotekun Dismisses Three Officers

Fidelis David in akure

The Ondo State Security Network Agency codenamed Amotekun has dismissed three of its officers for alleged professional misconduct.

The state Commander of the corps, Adetunji Adeleye, announced this yesterday in Akure while parading seven suspects for stealing.

Adeleye said: “We want to inform the public that we have three of the Amotekun personnel that had gone through the normal process of corps marshall and had been dismissed today for professional misconduct and

we will ensure that adequate punishments even after the dismissal are given to them.

The three dismissed officers would be prosecuted in line with the regulations guiding the corps.

According to him, “we have seven suspected criminals and we want to inform the public that you should assist us so that we can assist you too. Out of the seven suspects, we have three that were arrested for human trafficking cases and we have four others that were arrested for house breaking and we were able to retrieved all the items stolen from their operation, which would be handover to the rightful owners.

NB Cooperative Alleges Attempts to Sell Property

The Nigerian Breweries Plc Senior Staff Multiple Purpose Society has raised the alarm over attempts by some persons to forcefully dispose the property belonging to their members.

In a statement ,the association said it has discovered some surreptitious moves being taken by some unscrupulous persons representing the developer, to wrongly dispose or alienate their property, made up of 35 units of four bedroom detached buildings belonging to their registered members and 10plots of land belonging to the cooperative, situated at Pearl Nuga Court Estate in Sangotedo,off Lekki Epe Expressway, Lagos State.

According to the association, ownership of the property was confirmed by the judgement of Honourable Justice O. Opesanwo delivered on 29/11/2022 between the registered trustees of Nigerian Breweries Cooperative and two others versus CMB Building Maintenance and Investment Company Limited and two others.

The association said it was using the opportunity to warn and inform members of the public to disregard any offer for sale, alienation, mortgage, change and any other dealings whatsoever regarding any of the said properties in Pearl Nuga Court Estate aforementioned.

Rivers State Command of the NSCDC, five suspects were arrested at the scene of crime.

Speaking with journalists at the illegal oil sites in

Odagwa, Monday evening, the spokesperson of the NSCDC, Rivers, Superintendent Olufemi Ayodele, said the successful discovery of over 10 illegal

refineries with an estimated 500,000 litres of crude oil contained in about 50 illegally constructed reservoirs was based on credible intelligence.

NISER: Digital Policing ‘ll Enhance Effective Crime Control in Nigeria

Yinka Kolawole in Osogbo

A landmark research on “Digital Policing and Crime Control” conducted by the Nigerian Institute of Social and Economic Research (NISER) has revealed that crime would be reduced to the barest minimum with deployment of digital technologies in policing.

This was made public yesterday at the institute’s monthly seminar series. In the presentation of the outcomes of the research, which was carried out in Lagos and Oyo State Police Commands, it was stated that digital policing would enable the police to accomplish better

outcomes which included increasing the productivity and effectiveness of the Nigeria Police Force (NPF), simplifying the activities of the force, and hastening the accomplishment of officers’ work.

The presenter, who is a Research Fellow in the Social Policy Department, NISER, Dr. Peter Tomoloju, revealed further that deployment of digital technologies in policing would enhance the security of the police and that of the citizens discouraging crime for the fear of detection and arrest, raising the credibility of the police force, increasing citizens’ belief in the police.

Mbah Signs Bill to Establish Teaching Hospital in Enugu North

Gideon Arinze in enugu

Enugu state governor, Peter Mbah, yesterday, signed the Enugu State University of Medical and Applied Sciences (SUMAS) Teaching Hospital Bill 2024 into Law.

The governor promised to expedite action for the establishment of a teaching hospital that will provide quality training and healthcare services in the Enugu North area of the state and the state in general. “What we have done by signing into law the Enugu State University of Medical

and Applied Sciences Teaching Hospital Bill is that we now have in place a legal framework to immediately begin to put in place all that is required to upgrade SUMAS to a teaching hospital,” he said. “This is part of our campaign promises, and we are committed to delivering on that expeditiously,”. He assured the governing council and the Management of SUMAS of his continued support, adding that his administration would equally be counting on their pedigree and contacts to bring the teaching hospital to fruition in record time.

Ex-Kwara Finance Commissioner Faults EFCC over Declaration, Denies N411m Fraud

Hammed ShittuinIlorin

A former Finance Commissioner in Kwara State, Hon. Ademola Banu, has filed an application/motion at the Federal High Court, Ilorin, to vacate the bench warrant for his arrest by the Economic and Financial Crimes Commission (EFCC), arguing that the facts presented to the court by the EFCC were untrue and misleading. Banu also denied alleged authorization of the payment of sum of N411 million to travel agency for chartered flight for former Governor Abdulfatah Ahmed.

David-Chyddy Eleke in awka

Heavy rainfall last Monday evening has washed off a road in Ochanja area of Onitsha, Anambra State, which was recently constructed and inaugurated by the state

Governor, Prof Chukwuma Soludo.

A viral video of the road by a resident of the area showed a badly damaged road, while the person who made the video said the area was a newly constructed and launched road in Onitsha.

Recall that the EFCC had on Friday, February 23, 2024, filed charges against a former Governor of Kwara State, Mr. Abdulfatah Ahmed and Hon. Ademola Banu, who served as Commissioner for Finance during his administration, over offences bordering on alleged money laundering in the case number: FHC/IL/18C/2024 (FRN vs. Abdulfatah Ahmed & Anor.)

During the court session presided over by Justice Evelyn Anyadike, the EFCC informed the court that Banu jumped administrative bail granted to him by the commission and all efforts to reach him proved abortive.

Rainfall Washes Off Newly Constructed Road in Anambra

But the state Governor, Prof Chukwuma Soludo, in a statement issued by his Press Secretary, Mr. Christian Aburime, described the video as misinformation.

He said: “We categorically state that these claims are not true.

“Following the heavy rainfall on March 25, 2024, which uprooted trees, downed electrical poles, and damaged public infrastructure across the state, a section of the OchanjaIweka road, currently under construction, was also impacted.

Bauchi to Provide Best Strategic Plan for Women Access to Reproductive Services

Segun Awofadeji inBauchi

The Bauchi State Government yesterday reiterated its commitment to provide the best needed policy and strategic plan aimed at ensuring that every woman has access to high quality sexual and reproductive health services in the state.

The state Governor, Bala Mohammed, disclosed this yesterday at the dissemination meeting of Women’s Integrated Services for Health (WISH) project at the Banquet Hall at the

Government House, Bauchi, saying the implementation of the project underscores the commitment of his administration in excellence in reproductive healthcare intervention. The governor, who was represented by the Secretary to the State Government (SSG), Ibrahim Mohammed Kashim, observed that through implementing rigorous quality assurance measures, the state can ensure that all family planning services provided meet the highest standard of safety, effectiveness, and patient-centered care.

World Bank Session: CCDI, UW to Highlight Challenges of Oil Theft in Nigeria

Sunday Okobi

The Centre for Convention on Democratic Integrity (CCDI), a non-governmental organisation operating in Nigeria and Maryland, United States, with United Nations Consultative Status and University of

Washington will jointly hold a session on ‘Sustainable Energy Security in Nigeria: Issues, Challenges and Prospects’, during the spring meetings of World Bank and IMF Boards of Governors meetings that will hold between April 15 and 20, in Washington DC, United States.

In the statement jointly issued by the Permanent Representative of CCDI, Olufemi Aduwo, and Professor Dan Schwart, a director of Clean Energy, University of Washington, the objectives are to highlight the challenges of oil theft and international dimension, and how to tackle this menace and the prospects available to potential investors.

Also, the Nigerian-American and the current Deputy Secretary of Treasury, United States, Wally Adeyemo, will deliver a keynote message at the session.

wedn e Sday march 27, 2024 • THISDAY 38 new S

Ikpeba Recalls How Dream Team Went from ‘Useless’ to Olympic Champions

Former Super Eagles forward, Victor Ikpeba, has recalled how Nigeria made history by becoming the first African country to win Olympic men’s football gold after the Dream Team were described by their own fans as “useless”.

“Our preparations before arriving in the United States weren’t particularly good. We lost to Togo in Lagos, and our supporters kept on saying we were useless,” Ikpeba told FIFA.com

“We landed in Tallahassee in Florida, where we faced some logistical problems. It wasn’t easy, but we kept believing thanks to the fact that we had a squad filled with top players like Austin Jay Jay Okocha, Nwankwo Kanu and Taribo West.

The 1997 CAF African Player of the Year said winning Olympic Gold was a remarkable achievement.

“It was a truly unforgettable tournament. I was thrilled to take part in it, represent Nigeria and, in particular, to emerge victorious,”

he said.

“When I look back on it, I realise just what an amazing achievement it was.

“We went on an extraordinary run by beating Mexico 2 0 in the quarter finals, Brazil 4 3 in the semis and Argentina 3 2 in the final.

“I can picture myself 28 years ago with that gold medal dangling around my neck. I was ever so proud of that feat and to be a member of the very first African side to be crowned Olympic champions.”

Georgia Make History Qualifying for Euro 2024

Georgia created history by reaching their first major tournament with a penalty shootout win over Greece in their Euro 2024 play-off yesterday.

Home substitute Nika Kvekveskiri scored the winning penalty, squeezing his effort past the outstretched arm of Greece keeper Odysseas Vlachodimos.

The 4-2 shootout success, which came after a tight and tense goalless draw, sparked joyous scenes in Tbilisi.

Georgian supporters ran on to the pitch to congratulate their players, having seen the national side - which played its first match in 1990 when still part of the Soviet

Union - qualify for a major tournament at the 15th attempt.

Fans climbed on the crossbar of one of the goals and kneeled on the pitch in celebration.

Georgia will join Turkey, Portugal and the Czech Republic in Group F at this summer's finals.

A cagey match, which saw only one shot on target in normal time, eventually burst into life in the extra period.Greece defender Konstantinos Mavropanos hit the home bar with a powerful header from a corner, but a sloppy pass from the West Ham player seconds later let Georgia in.

Georges Mikautadze raced through before being forced out wide, but his cutback found Zuriko Davitashvili, whose low shot was well saved by visiting keeperPenaltiesVlachodimos. were needed to separate the teams and Lech Poznan midfielder Kvekveskiri, 31, converted the decisive one after Greece's Giorgos Giakoumakis put his spot-kick wide.

The Euro 2024 finals will begin on Friday, 14 June at the Allianz Arena in Munich.

The tournament concludes on Sunday, 14 July, with the final at the Olympiastadion in Berlin.

Top UK Coaches Confirm for 2nd FCV Gladiator Football Camp

Arrangements have been concluded for the kick-off of the 2nd FCV Gladiator Camp taking place at Grange School Lagos from April 1 to 5.

Also, the three top UK school football coaches expected to tutor the participants have also been confirmed to be in attendance at the event.

Former Leicester City defender Grant Brown as well as Ex-Ipswich Town’s star Ashley Foulger and Australia-born Liam Merrick are the technical crew of FCV International Academy expected to be in charge of proceedings at the one-week camp with former Super Eagles star Mutiu Adepoju acting as mentor for the participants.

Grant's playing career boasts a remarkable 18-year stint as a defender, accumulating nearly 600 appearances. His journey started at

Leicester City, followed by 13-years at Lincoln City, notably, becoming Lincoln City's highest appearance holder, amassing an impressive 407 league outings. Grant possesses a UEFA A License and he joined FCV International Football Academy in 2016 and has since assumed the role of Head of Football.

Foulger transitioned from a playing career which saw him represent Ipswich Town, Northampton Town, Peterborough United, and MK Dons; he redirected his passion into coaching, amassing over a decade of invaluable experience.

Currently working towards his UEFA B Licence, Ash's coaching journey has taken him across the globe, shaping talents in Finland, Hong Kong, Albania. He served as the FCV’s steadfast goalkeeping coach and he is a vital part of the Football Department.

Merrick joined FCV back in 2018, transitioning from his homeland of Australia to pursue his passion for football in England. His debut season saw him play a pivotal role in FCV's triumph in the National Alliance League, a feat accompanied by the prestigious title of Player of the Year for the 2019/20 season.

BELLINGHAM THE SAVIOUR...

Jude Bellingham (right) scored stoppage-time equaliser that prevented England from slipping to a second successive Wembley defeat as defensive errors nearly cost them dearly in the 2-2 friendly against Belgium. Youri Tielemans two goals had looked set to hand Belgium their first win in England before Bellingham’s face-saving equaliser.

World Athletics Hails Okpekpe Race Organiser and its Partners

Re-certifies the 10km road race as gold label event

World Athletics has hailed Pamodzi Sports marketing, organisers of the world-class Okpekpe international 10km Rad Race for its positive contributions to road running in the world.

The world governing body for the sport also recertified the status of the race as a gold label event following the reclassification of label

and road running generally.

“World Athletics is grateful to your organisation and partners for the continuous support you give to road running,” wrote the world governing body on the certificate.

Okpekpe international 10km road race is the first world-class road race to hold in Nigeria following its classification as as a bronze label race in 2015, eight years after World Athletics began the classification of road races in the world.

and its sponsors/partners made the Okpekpe race the best in the West African sub-region and certainly unrivalled in Nigeria.

“This honour belongs to our sponsors and partners as rightly acknowledged by World Athletics. Without them, we would not have become the first label road race in West Africa.

The Director-General of the National Institute for Sports, Professor Olawale Moronkola, has urged newly admitted students of the Institute to instill virtues of teamwork, discipline and integrity in order to sustain the reputation of the Institute.

Speaking during the matriculation of 270 students made up of professional for certificate course, Diploma and Advance Diploma courses, Professor Moronkola charged them to be ready to learn by embracing the challenges that lies ahead.

“Today marks not just the beginning of an academic journey for our new students, but also reaffirms our commitment to nurturing talents and fostering excellence in the field of sports."

He further asserted “You stand at the threshold of an incredible journey. As you are formally admitted as NIS students, you are not just joining an academic institution, you are becoming part

of a legacy. A legacy of excellence, determination and resilience.

“The path ahead may be demanding, but it is also filled with opportunities to grow, learn and excel. Embrace the challenges, for it only through that you will discover your true potentials."

He assured them that "Our curriculum has been meticulously designed to provide our students with a holistic education that encompasses both the theoretical and practical aspects of sports. “I urge you to take advantage of the resources and facilities that are available to you. I encourage you to strive for excellence in every of your endeavors."

Meanwhile, the newly elected Students Union Government has been urged to cooperate with the Management of the Institute to make the citadel greater. This was the assertion of the DG during the swearing in of the Union led by Omefe Michael Kanayo who was elected last week.

a message on the certificate of classification of Okpekpe's status as a gold label race, World Athletics thanked the organiser and partners of the race for supporting the

Napoli said yesterday it is "astonishing" Inter Milan's Francesco Acerbi has not been punished for alleged racist comments against their player Juan Jesus.

Italy defender Acerbi, 36, was accused during the side's 1-1 draw earlier this month, with Jesus briefly halting play to speak to the referee.

But the case was dismissed by a Serie A sports judge on Tuesday because of a lack of evidence.

As a result, Napoli said they will not take part in anti-racism initiatives.

"We find it astonishing," said the Italian club in a statement.

"The principle of the greatest

The Okpekpe race is the first to have its course measured by a World Athletics certified course measurer and the first to become a member of AIMS.

The Race Director, Zack Amodu, said the Edo State government

likelihood of an event, which exists in sports justice and which appears clear from the dynamics of the incident and the apology offered on the pitch, simply vanishes in this judgement.

"Napoli will no longer take part in anti-racism and antidiscrimination initiatives run by football institutions that are merely symbolic, but we will continue to organise them ourselves, as we have always done, with renewed conviction and determination."

Acerbi withdrew from the Italy squad for friendlies against against Venezuela and Ecuador last week following the allegations.

A statement from the Italian federation said Acerbi had said there was "no defamatory, denigrating or racist intent" to his comments.

Judge Gerardo Mastrandrea suggested Acerbi's comments to Brazilian defender Jesus may have been offensive but could not say whether they were of a racist nature because of a lack of evidence.

"Without calling into question the good faith of the Napoli player, it appears to have been perceived only by 'offended' footballer without the support of any external evidence, be it audio, video or even testimonial,"

The 10th edition of the race will hold on May 25 this year and Amodu says it will be the best ever yet.

“We know we keep raising the bar with every edition and our recertification as a gold medal race is a confirmation of that but we are determined to make the 10th edition really special, it will be a celebration of 10 years of excellence.”

“We say thank you to the government and people of Edo State who provided the enabling environment including the road for the race, Nigerian Breweries, brewers of Zagg energy malt drink and Amstel Malta, our CSR partner, Petralon Energy, Development Bank Plc, Dan Oil as well as our broadcast partners Supersport and African Independent Television, AIT. The media also deserve a special mention as they have projected Okpekpe, a rural community, host town of the race, to the world and has helped make Edo State a destination for sports,” said Amodu.

the ruling said.

But Napoli responded: "If what happened on the pitch 'is certainly compatible with the expression of offensive comments by the Inter player, who does not deny that they were offensive and threatening', then why was Acerbi not sanctioned in any way?

"If, as the judgement itself reads, 'there was certainly proof of an insult', why did the sports judge decide to take no action to punish the responsible party?

"We find that even more astonishing."

Acerbi is free to play in Inter's first game after the international break on Monday against Empoli.

WEDNESDaySportS Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY THISDAY • WEDNESDAY MARCH 27, 2024 39
NIS DG Tasks 270 Matriculating Students on Virtue of Integrity Napoli to Boycott Anti-racism Initiatives in
Over Acerbi Ruling
Protest
Label, World Athletics Elite Label, World Athletics Gold Label and World Athletics Platinum Label.
event
road races in 2024 into four categories viz World Athletics
In

MISSILE

Ganduje to APGA, Anambra

“Anambra is not making the progresses needed. Anambra has had Peter Obi, Obiano and now Soludo all from APGA as its governors and that is 25 years of political dislocation for this state. They need to join the ruling political party and they will be happy and better for it. Why should Anambra continue to live in isolation...” --APCNationalChairman,AbdulahiGanduje,counselsAPGA.

MagnusONYIbe

Murder of Soldiers and Policing

In August 2023, a military Mi-171 helicopter on a rescue mission and conveying the soldiers that had been ambushed by suspected bandits along Zungeru-Tegina highway was shot down. Although the military high command did not admit the narrative making the rounds that the aircraft was brought down by non state actors wreaking havoc on harpless Nigerians and brazenly daring the military, unfortunately the death toll on the path of the military was quite high at 23 during the ambush and perhaps more fatalities from the downed helicopter.

As an aftermath of the helicopter crash, Airforce spokesman, Edward Gabkwet stated that: “The aircraft had departed Zungeru primary school enroute for Kaduna but was later discovered to have crashed near Chukuba village in Shiroro local government area of Niger state. ”Before the dust raised by that dastardly act could settle, the blood cuddling killing of seventeen officers and men of the 181 amphibious battalion on a peace mission to Okuama community, Delta state occurred.

For the reason of ethics, I will not go into the gory details of the dastardly acts of the criminal elements that perpetrated the heinous crime, but suffice it to say, that the onslaught against the army by non state actors is worrisome and must be condemned by all men/women of goodwill.

The Minister of Defence, Alh. Mohamed Badaru Abubakar summed up the horrific incident thus:

“The tragic incident underscores the immense sacrifices made by our servicemen and women in the defence of our nation,”

Now, my late father who passed away in 1970 while on active service was in the military.

He was in the medical corp after being trained during world war ll as a paramedic. Upon being decommissioned after the war, he was in-charge of one of the Dispensaries-government medical facilities- in the rural areas of midwest region of Nigeria in the 1960s.

When the 1967-70 war broke out, he was recommissioned into Nigerian army where he served until he passed away in December 1970.

The details above are provided to underscore the fact one has been and remains part of the military family.

Arising from the foregoing narrative anything that affects the military in any way, negative or positive affects me.

It is in light of the above and undercored by the love and respect that l have for our men/women in uniform, that l make bold to state that the killing of the military in Okuama is one too many.

As such, as a nation we must get to the root cause of the strange occurrence and not allow it to be swept under the carpet as were the cases in Odi, Bayelsa state in 1999 and Zaki-Biam, Benue state in 2001 hence the reoccurrence on the 14th of this month in Okuama, Delta state.

Back in the days, the military was rarely seen in public until its incursion into politics after the war. Why is it that

Since 1970, that the military has been co-mingling with civilians as leaders of government, the public, especially the nefarious non state actors that go by the name of bandits, have become so contemptuous of the military to the extent that they have become too daring and the military has become such an easy prey for them to launch attacks and get away unscathed.

Lately there has been a rise in brazen criminal acts against the military such as attacking military camps in crisis ridden locations to even daring to invade army barracks and taking a couple of them away as hostage for ransom in Kaduna, to the recent bizarre slaughtering that took place in Okuoma community.

Apparently, staging attacks against the military and reprisal actions against the communities of the perpetrators go back to the days of colonial rule as unearthed and documented in a recently published article titled: “118 Years After Satiru” by Dr Chidi Odinkalu, a former Nigerian human rights commission chairman, who is currently a teacher of law at Tufts university, Massachusetts, USA

He wrote: “118 years after Satiru: Remarkably, the Okuama incident occurred in the month of the

118th anniversary of the extermination of Satiru… A dispassionate Board of Inquiry must get to the root of how these soldiers met their unconscionable fate, who was responsible, and how they were deployed on the mission that consumed their young lives. It is time to turn the page on this cycle of escalation, retribution and bloody reprisal that has prospered for 118 years since Satiru.”

Equally, Mr Lasisi Olagunju, a master story teller’s narrative about attacks on the military and the catastrophic consequences to host communities citing centuries old examples in the USA and Yoruba land are quite instructive.

He wrote in a piece recently published in the mass media titled: “Murder And Vengeance ln Okuama”

“All through military history, those whose hens break soldiers’ pot of medicine always suffer mass loss of eggs. You heard that young soldier who went online to vow a revenge of the killings? I heard him and felt a chill at the cadence in his carefully chosen words: “We take good things to good people, bad things to bad people. Since you don price, you must collect.” That does not sound like a hollow boast from a lone wolf. If you think it is, scroll back to August last year when bandits killed scores of soldiers in Niger State. The Chief of Defence Staff, General Christopher Musa, uttered these words in August 2023: “When you have to bury your own, you feel very pained. I call on all commanders and troops all over Nigeria that we must avenge this. Those who did this and those who continue to kill our men wherever they are, we will smoke them out.” The young soldier issued his promise of revenge in poetry; the CDS’s pledge of vengeance was in plain prose. Those who wreaked the latest havoc in Delta should have listened to Musa’s unleavened words of last year. If they had taken heed and followed the word and the law, there would not have been this hackneyed talk about another deathly journey to Odi and a deadly detour to Zaki-Biam” True patriots who really want to see an end to the seeming denigration of the military and utter disrespect for the men/women who throw themselves in harm’s way so that we can be unhurt, by the outlaws ravaging our country must read Odinkalu’s treatise and Olagunju’s folkloric submissions and strive towards implementing the individual recommendations of the duo which go straight to the taproot of the crisis of viciously attacking and murdering of members of the military by outlaws and the consequences ,of which Odi, Zaki-biam and now Okuama communities are victims and symptoms of a system or military doctrine of becoming engaged in internal policing duties that has gone awry.

The proposition above is implicit in the fact that government at both the national and subnational levels, have come to a realization that the menace of the outlaws who are testing the might of our military can no longer be discountenanced. So they must be fished out and dealt with accordingly.

But there is always a collateral damage to the larger society as the agent provocateurs of the heinous crimes always literarily melt into the thin air with their host communities left with the burden of being decimated and thus becoming a grave yard for largely innocent souls who die prematurely for the sins they did not commit.

In light of the above, although Nigerians often stand tall behind the military in their moments of discomfiture such as the Okuama tragedy, it should be careful not to draw the ire of the public by the reprisal actions that it is alleged to have taken in Odi, Zaki-Biam and now Okuama.

The precarious position in which the military in Nigeria is currently caught up is analoguos to the situation with the Israeli Defense Force, IDF, which in counter attacking Hamas militants who invaded and killed 120 Israelis and took some of them hostage in November is currently being vilified by her closest allies, the USA and major European countries for going overboard in its destruction of Palestine and her estimated 2.2 million population with over 30,000, so far reportedly killed by the IDF.

Sadly, but fortuitously, the murder of our dear soldiers in Okuama via ambush is another justification for the military to yield internal security activities back to the police.

It is striking that the current leaders of government at the federal and state levels have after quibbling about the viability and sustainability of the decentralization of the police force, have agreed just last month on the need to restructure the police either as state or community police which is an issue that they had been disagreeing on since 1999,during the watch of president Olusegun Obasanjo who first mooted it.

The inconvenient truth is that military is actually trained to kill and not settle quarrels between feuding communities which is what it has been compelled to be doing owing to our perculiar circumstances of enthroning military rule in 1966 and the subsequent disempowerment of the police force.

The practice all over world is that when the military engages, it is to kill and maim. So it must have been finding it difficult to act in typical military fashion on the occasions that it has been attacked by surprise from unsuspecting quarters by armed militias.

Moreover, the exposure to circumstances during which the military can not truly act as valiantly and gallantly as it is trained to do, but only bare its fangs after her men/women have been killed in horrific manners, must stop because it is devaluing, diminishing and demoralizing the men/women in uniform in the eyes of the polity.

Clearly, it is when the police is unbundled and trained to be in tune with current dynamics of crime and its control in our society, that the military can go back to the barracks and attack only our external attackers which is the role constitutionally assigned to our armed forces.

In the USA from where we got the franchise for presidential system of democracy, most of the lawmakers are ex members of the military or former prosecutors.

That underscores the high respect that is accorded the military because of the criticality of the work that they do.

How come the opposite applies in our clime if something is not fundamentally wrong?

I have made the case via other media interventions that it is a failure to nip in the bud banditry in the hinterland that is the reason that the merchants of violent deaths of innocent citizens are now knocking on the doors of the seat of political power in Abuja. It is also my view that the military got involved in internal security because the police got overwhelmed, and that happened because over the years, the police has been underfunded and undertrained, by omission or commission.

A typical example lies in the fact that non state actors that have taken up arms against our country are better armed with more sophisticated weapons and appear to be even more strategic and tactical based on the level of success that they have recorded when they turn their guns against our military leveraging the element of surprise. How is it that they were able to shot down a helicopter detailed to recue the wounded and return the remains of the dead? Apart from the advantage of their sophisticated weaponry, is it not possible that the military deployed a helicopter to a theatre of war without air cover or reconnaissance?

As a commentator recently pointed out, the deployment of ordinary drones (same type that photographers use to cover social events) could have helped gather intelligence to prevent the danger that the helicopter downed in Niger state and the fallen soldiers in Okuama in Delta state ran into and resulted in their untimely death.

It would appear that having been doing internal security duties for too long, the military may be losing its basic instincts and its reflexes might have become blunted having become acclamatized with the suboptimal environment in which they have been operating as internal security guards instead of men/ women of war and valour.

As the common aphorism goes: ‘the chicken has come home to roost for political leaders ’ hence the bi-partisan and united position that has been taken by president Bola Tinubu and governors across the political divide to take another look at the police as it is currently operated with a view to radically changing it to suit the current dynamics in our society.

Undoubtedly, the decision is driven by the incidents of increased bandits and marauders attacks nationwide that have been made more manifest by the recent kidnapping and killings in the suburbs of Abuja which is too close for comfort for those in the seat of power at the center.

In fact, it has become too foolhardy to continue to play politics with security, hence the sudden by-partisan interest in rijiging our country’s security system via deregulation of the police and with a view to restoring it to its traditional role of primarily in-charge of internal security.

Before now, the outlaws that are supposed to have been warded off or reined in have been ruling the roost in our forests because they have remained unchallenged in that space.

It is John Rohn, the American, entrepreneur, author and motivational speaker that once counseled:

“If the WHY is powerful, the HOW is easy.”

Obviously it had dawned on both the leadership and followership why it is time for a paradigm shift in policing, so given the creative capacity of man’s mind, how to do it should not be difficult.

Little wonder that my friend, Solid Minerals development minister, Dr Dele Alake has commenced the process of changing the dynamics of policing by the setting up of Mining Marshalls in collaboration with the Ministry of lnterior.

It was an elated Alake that unveiled the marshals last week in the following words:

“Today’s event of unveiling and formally handing over the specially trained and selected civil defence structure to engage illegal miners and sanitise our mining environment was also part of what we conceived at the inter-ministerial committee chaired by me,”

Continuing Alake said:

“I am very happy to let the public know that from the outset we said, we are going to tackle insecurity in the mining sector and the first batch of the security apparati is what we are launching today.”

By and large, following the introduction of Mining Marshals to prevent the theft of our natural resources, the unbundling of policing services in Nigeria is somehow afoot.

As the conventional wisdom goes, the journey of a thousand miles starts with one step.

Hopefully, the marshals would grow and become formidable enough to occupy our vast forests where the mines and other forest resources abound and flush out the bandits who have made our forests their lair.

TRUTH & REASON Wednesday, March 27, 2024 Price: N400 Printed and Published in Lagos by THISDAY Newspapers Limited. Lagos: 35 Creek Road, Apapa, Lagos. Abuja: Plot 1, Sector Centre B, Jabi Business District, Solomon Lar Way, Jabi North East, Abuja . All Correspondence to POBox 54749, Ikoyi, Lagos. EMAiL: editor@thisdaylive.com, info@thisdaylive.com. TELEPhoNE Lagos: 0802 2924721-2, 08022924485. Abuja: Tel: 08155555292, 08155555929 24/7 ADVERTiSiNG hoT LiNES: 0811 181 3085 0811 181 3086, 0811 181 3087, 0811 181 3088, 0811 181 3089, 0811 181 3090. ENQUiRiES & BooKiNG: adsbooking@thisdaylive.com
Badaru Abubakar
G u EST COL
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