MONDAY 28TH MARCH 2022

10 Banks Rake in N39.4trn Deposits Despite Sustained Incursion by Fintechs Kayode Tokede A total of 10 commercial banks that have so far released their full year 2021 financial results reported N39.4 trillion as customers’ deposits, which was an increase of 17.6 per cent compared with the

N33.47 trillion reported in 2020, amid the sustained battle for customers between the banks and financial technology (fintech) customers.

The figures were compiled

by THISDAY, from the 2021 full year results of the banks submitted to the Nigerian

Exchange Limited (NGX). The banks considered were those that have so far released their financial results.

The Ecobank Transnational Incorporated, Access Bank, Zenith Bank Plc, United Bank for Africa Plc (UBA), and Guaranty Trust Holding Plc

were major tier-1 banks that contributed to the N39.4trillion customers deposit in the year under review.

On the other hand, the tier-2 banks included Fidelity Bank Plc, Stanbic IBTC Holdings, FCMB group, Sterling Bank Plc and Wema Bank Plc.

Data gathered from the banks’ results revealed that ETI, a pan-African bank, led others in term of customer deposits in the year under review, given its banking operations in 13 African countries. Precisely, while ETI grew its deposits from customers by 13 per cent to N8.28 trillion

in 2021, up from N7.32 trillion in 2020, Access Bank’s deposit from customers increased by 24.5 per cent to N6.95 trillion in 2021, higher than the N5.59 trillion the bank reported in 2020.

As gathered from its 2021 Continued on page 5

Nigerian Governors in Dubai for Investment Drive... Page 5 Monday 28 March, 2022 Vol 27. No 9848. Price: N250

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2023: South-east PDP Backs Southern Governors’ Stance on Zoning of Presidency... Page 10

Kaduna Airport Attack: PDP, Afenifere Knock Buhari, Raise the Alarm House Minority Caucus demands investigation Chuks Okocha, Deji Elumoye and Udora Orizu in Abuja The Peoples Democratic Party

(PDP) and the pan-Yoruba sociopolitical organisation, Afenifere, yesterday criticised the President Muhammadu Buhari administration

for Saturday’s invasion of the Kaduna International Airport by bandits. PDP said the development was a clear confirmation that the

command and control structure of the country's security under Buhari and the All Progressives Congress (APC) had collapsed.

The Minority Caucus in the House of Representatives equally expressed shock at the brazen invasion and takeover of the

airport by terrorists. The caucus, in a statement by its leader, Continued on page 5

Buhari: Our Unity at Convention Signposts Victory in 2023 Polls Deji Elumoye, Chuks Okocha, Adedayo Akinwale, Sunday Aborisade, Emameh Gabriel, Udora Orizu in Abuja, Victor Ogunje in Ado Ekiti, Segun Awofadeji in Gombe and Ibrahim Shuaibu in Kano President Muhammadu Buhari, yesterday, said the unity of purpose displayed by the leadership of the All Progressives Congress (APC) at its national convention on Saturday was indicative of the party’s promising success in the 2023 general election.

Buhari congratulated the newly elected APC national chairman, Senator Abdullahi Adamu, and the 79-member National Executive Committee (NEC) elected at the convention. But he blamed the media for reporting imaginary division within the ranks of the ruling party.

Adamu, who emerged through a consensus arrangement, also took a swipe at the Peoples Democratic Party (PDP) in his acceptance speech, saying the Continued on page 5

SIGNED, SEALED AND DELIVERED...

L-R: Chairman, Caretaker, Extraordinary Committee and Governor of Yobe State, Mai Mala Buni; newly elected National Secretary, APC, Iyiola Omisore, National Chairman , Abdullahi Adamu and President Muhammadu Buhari at the swearing - in of the newly elected APC Executives, held at Abuja ...yesterday GODWIN OMOIGUI

Universities in Total Shutdown, as SSANU, NASU Begin 2-Week Warning Strike... Page 48

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Nigerian Governors in Dubai for Investment Drive Chuks Okocha in Abuja Fourteen Nigerian governors have arrived Dubai, United Arab Emirate (UAE) for an Annual Investment Meeting, starting tomorrow, March 29.

The gathering is expected to witness a highly engaging interaction, which is to be anchored on behalf of the Nigerian governors by the Emirates foreign ministry of foreign affairs and international corporation headed

by Sheik Abdallah and assisted

by Walid of AIM. This is a product of a monthlong interaction between the chairman of the NGF, John Kayode Fayemi, and His Excellency, Ambassador Abdallah, who

personally gave his commitment to ensuring a direct interface between Nigerian governors and strong business conglomerates in the United Arab Emirates.

A statement by Abdulrazaque Bello-Barkindo, the Head of Media and Information at the Nigeria Governors’ Forum (NGF), stated that, "Beginning from Tuesday, AIM global leaders debate.

Abia State governor, Okezie Ikpeazu will have a business to government meeting with SALIC at the investment hub in Dubai.

“Ikpeazu will also meet with Abu Dhabi Fund for Development, Markaz, Elite Agro, and Sharaf Group Investment.

He is also expected to grace the

AIM startup adware’s to acquire a comparative advantage with startup companies in Abia State.

"Bayelsa State governor, Duoye Diri, who has already been in Dubai since Saturday, will be meeting with El Sewedy Electric. In another business to government meeting also facilitated by Dubai foreign ministry, Diri will be meeting AMEA power and he will also be at the humanitarian summit among other meetings. Governor Diri will finalise his activities by attending the closing ceremony and Dubai declaration of the World Investment Forum."

Also, the statement added that expected to commence high-level business to government

investment quest is the Niger State Governor, Abubakar Sani Bello, who is seeking $184 million investment into his state by first meeting AIM's high-level networking group. He is concentrating on presenting his state potential as an agricultural industrial processing zone, where it is expected that huge sums will be plowed into agriculture infrastructure.

The Sokoto State Governor, Aminu Tambuwal, is also expected to arrive in Dubai Tuesday, where he is expected to ameliorate issues relating to the Sokoto State cement industry, livestock production, housing construction, and upliftment of construction of the state of the

art medical facility, equipment, and ICT. This improvement in manufacturing, construction, agriculture, and health will attract $388 million into Sokoto State.

The chairman of NGF, Fayemi, who has been at the forefront of this arrangement and worked side by side with the foreign ministry in Dubai and the AIM management team will arrive Tuesday to join the Global leaders' debate and grand opening ceremony. He will be meeting with international business conglomerates in the national marine and dredging industry and will seize the opportunity to meet with Saudi Fund for development.

Nine other governors will

be pitching their states in two presentations each before selected international business personalities, who have indicated willingness to bring foreign direct investments into Nigeria within the shortest possible time. These activities are being coordinated by a team from the NGF led by the Executive Director, Research, and Strategy, Dr. Abdulateef Shittu.

In promoting this business sojourn, the Director-General of the NGF, Asishana Okauru,said, “I am convinced that this trio will be of immense benefits to the various states and Nigeria as a whole, because it is packed with content that will eventually translate into economic growth.”

prevailed upon to step down, pleaded with all aspirants to “show maturity and good sportsmanship and accept the outcome of this convention with grace.”

He stressed that even though they did not achieve their ambitions at the convention, a good number of them would still serve the party and the country in several other positions of responsibility.

The APC national chairman said, “We are, however, satisfied that APC has fulfilled its covenant with the Nigerian people. Of the three main pillars of its promises to the Nigerian people in 2015, that is, security, economy and anti-corruption, much progress has been recorded in all three areas and many more.

“APC is set to do much, much more when Nigerians continue to bestow on us their love, support and confidence in next year’s general election.”

Adamu said no administration

had the record of APC in the provision of critical infrastructure, which was hitherto considered impossible in the country. He listed such projects to include “the Second Niger Bridge, complete rehabilitation of the Lagos-Ibadan dual carriageway, the Lagos-Ibadan express rail, the Abuja-Kaduna express light rail, the Ajaokuta-Kaduna-Kano pipeline…”

Adamu took the oath of office and oath of allegiance at 12:22pm yesterday at an event witnessed by Buhari, Osinbajo, Lawan, Speaker of the House of Representatives, Femi Gbajabiamila, Attorney General the Federation and Minister of Justice, Abubkar Malami, governors, and other members of the party.

He called on all aggrieved members of APC to put their differences aside and work for the interest of the party.

Adamu thanked the president

BUHARI: OUR UNITY AT CONVENTION SIGNPOSTS VICTORY IN 2023 POLLS opposition party is sad and disappointed at the success of the ruling party’s national convention.

He spoke yesterday after the new National Working Committee (NWC) of APC was sworn in.

The new national chairman argued that PDP and other opposition elements had expected to make a political fortune from an anticipated crisis-ridden convention. He said the ruling party had fulfilled its covenant with Nigerians.

The accusation came as Adamu’s strongest rival and former governor of Nasarawa State, Senator Tanko Al-Makura, also said the successful convention had put APC’s enemies and naysayers to shame.

Similarly, Osun State Governor Adegboyega Oyetola said at the weekend that the successful outcome of Saturday’s national convention of APC was proof that the party would remain in power beyond 2023.

Lagos State Governor, Mr. Babajide Sanwo-Ou; his Ekiti State counterpart, Dr. Kayode Fayemi; and President of the Senate, Dr. Ahmed Lawan, congratulated Adamu and other members of the new NWC as well as the zonal executives of APC on their election.

But the PDP leadership, yesterday, mocked APC for allegedly imposing as its chairman a man arraigned in court on 149-count charge bordering on fraudulent award of contracts and stealing of public funds estimated at N15 billion.

However, Buhari, in a release by his spokesman, Mallam Garba Shehu, stressed that the intraparty unity display during the convention had put the ruling party on a firmer footing for victory in the forthcoming general election.

The president returned to the convention ground at Eagle Square, Saturday morning, along with the vice president, Professor Yemi Osinbajo and the senate president, to witness and celebrate the inauguration of the newly elected party executives. He said the smooth conduct of the election had raised the prospect of a mouth-watering APC victory next year.

Buhari stated in the release, “The APC convention hosted this weekend sets the scene for an APC victory in the presidential and general elections next year. It is a victory over naysayers, who believed the party was divided but are now disappointed.

"We believe that it is equally a victory for the president who has ensured unity across all party positions; and it is a victory for the voters of Nigeria, who can now be assured of a smooth succession to new leadership in 2023.

“What the convention made clear was how the media has been peddling fake news of division, when the hard reality of unity, cohesion, and, indeed, personal warmth between members of the party’s leaders – incoming and outgoing – was evident for all to see.

"Of course, the blame for this mindset ought rightly to go to the opposition, who in all these years had done the work to only divide the country, leading to all manner of separatist agitations.

But this is not the wish, nor is it in the character of the citizens, as was clear for everyone to see at the Eagle Square.

"When their fake news of disunity was undone by the facts, some in the opposition could not help themselves but take to the newspapers and the airwaves to find another way to

shore up their reputations. That some of the APC’s new leadership were once in the opposition was the new line to take to the media, somehow suggesting that those who have left one party should not hold positions in another. Yet, do the Scriptures not teach us of the virtue of sinners who repent and change their ways?

"What the Scriptures say less is of sinners who repent, change their tune, and then choose to re-sin in full public view by returning to their former ways. Given that most important leaders of the opposition PDP first left the party before they returned to it, we might expect the media to ensure criticism of them is damning and absolute. It is incredulous that anyone would consider them trustworthy or acceptable candidates for any public office.

"The stage is now set for the APC primary elections later this year, when the party’s new flag bearers will emerge. No doubt, some will attempt to argue the

impossible – that an APC primary election is a source of division while an opposition primary election is a source of consensus.

“But the good voters of Nigeria can see through such acrobatics and know the facts that, when the contests for 2023 come, APC offers a track record of success and leadership, while the opposition has only decades of failure and complicity in response."

Speaking after he was sworn in, Adamu said, “As we conclude this very successful convention of our great party, I know that our opponents in PDP and other opposition parties are now sulking, wearing long faces of sadness, bewilderment and dismay.

“They had been hoping and praying to make a fortune out of our misfortunes. They were also hoping and praying to capitalise on assumed failures of our party to reap political benefits.”

Adamu, who emerged through a consensus arrangement after all the other six contestants were

Continued on page 6

10 BANKS RAKE IN N39.4TRN DEPOSITS DESPITE SUSTAINED INCURSION BY FINTECHS financial statement, Zenith Bank reported 21 per cent increase in deposit from customers to N6.47 trillion, from N5.34 trillion in 2020, while UBA grew its customers' deposits by 12.2 per cent to N6.4 trillion in 2021, from N5.68 trillion in 2020 and GTCO’s customers deposit rose by 14.3 per cent to N4 trillion in 2021, from N3.51trillion in 2020.

For Fidelity Bank, the financial institution led the league of tier-2 banks in terms of customers’ deposits in the 2021 financial year, reporting N2.02 trillion in the year under review, from N1.69 trillion in 2020. It was followed by Stanbic

IBTC Holdings which reported N1.56 trillion customers deposit in 2021, up from N1.33 trillion in 2020; while the FCMB Group grew its customers’ deposit by 24 per cent to N1.56 trillion in 2021, up from N1.26 trillion in 2020.

In addition, Sterling Bank reported 27.1 per cent growth in customer deposits to N1.21 trillion in 2021, up from N950.8 billion in 2020, as Wema Bank reported N927 billion in 2021 from N804.87 billion in 2020.

Analysts noted that the granting of payment service bank (PSB) license to some telcos was going to create an aggressive market in term of

customer deposits.

Similarly, commercial banks are facing severe competition in terms of customer deposits with the continuous expansion by fintechs such as Flutterwave, Paystack, PiggyVest, Kuda, among others.

To the Vice President, Highcap Securities Limited, David Adnori, banks are going to be more aggressive in winning customers with mouthwatering promo, adding that the economy stands to benefit as more people would join the financial inclusion objective of the Central Bank of Nigeria (CBN).

Also, finance expert, Mr. Rotimi Fakayejo said the

double-digit growth in customer deposits by banks revealed that more people needed to be engaged in savings.

According to him, “Fintechs have tremendous advantages over banks. They are mostly tailored to meet the needs of the younger demographic, and they have had a lot of media buzz that has for the most part trended positively in their favour.

“Their main strength revolves around the innovations that are closely associated with their brands. But, it’s highly unlikely that Fintech startups will replace commercial banks any time soon, for a number of reasons.”

Among the incidents cited by the Yoruba group were the sacking of communities in Kaduna, Niger, and Enugu states by terrorist, leading to loss of lives, burning down of property, and forceful takeover of people’s possessions.

According to Afenifere, “It is a matter of serious concern that these security infractions happened at a time that government kept assuring us that it was on top of the situation.

Some of these attacks by terrorists even occurred in broad daylight, that of Kaduna airport and that of Enugu, for instance.”

It asserted that for terrorists to have the audacity to attack an airport, despite all the available security apparatus, meant there was hardly anywhere safe in the country.

Afenifere maintained, "The federal government should immediately allow states to set up their own police forces, empower the existing security agencies, and stop treating terrorists with kid gloves. These must be done immediately so that Nigeria does not go the Afghanistan way."

The House Minority Caucus called for an urgent investigation to discover the remote and immediate

circumstances leading to the security breach at the Kaduna airport.

The lawmakers said the horrific development was another frightening commentary on the apparent collapse of national security and intelligence gathering coordination under the APC administration.

The statement said, "The Minority Caucus is deeply concerned and alarmed by the manifest lack of capacity by the APC administration to secure our nation to the extent that a strategic international airport in our country could be invaded and taken over by terrorists.

Airports, especially international airports across the world, are usually highly secured areas. Therefore, the circumstances that allowed for the invasion of the Kaduna International Airport speak volumes about the failure of the APC administration.

"The attack on the airport at the time when our roads, railways and communities are being overrun by bandits, kidnappers and invaders has heightened fear across the country as well as sent a very worrisome signal to the international community regarding the safety of our airports and the worsening insecurity in Nigeria.

KADUNA AIRPORT ATTACK: PDP, AFENIFERE KNOCK BUHARI, RAISE THE ALARM Hon. Ndudi Elumelu, called for urgent and comprehensive investigation into the circumstances leading to what it called an apparent compromise of security at the airport, which paved way for the breach.

The PDP, in a statement by its National Publicity Secretary, Debo Ologunagba, said the alarming invasion of the airport by terrorists at a time outlaws, kidnappers, and marauders had taken over the highways and railways heightened security concerns and fears that nowhere was safe in the country under APC. According to PDP, “The refusal and failure of Buhari and the APC to take action on the airport attack but continued to jamboree in Abuja in the name of a national convention reveal and confirm that the Buhari administration has conceded sovereignty over parts of the country to terrorists.”

The main opposition party said Buhari’s nonchalant disposition to the grave security challenge was an indication that his administration was “unable, unwilling and or complicit in this particular attack as well as various other acts of terrorism in the country.”

PDP stated that it was “indefensibly suspicious that while an international airport in the country was under attack by over 200 terrorists, with many Nigerians being held hostage and traumatised, President Buhari and the APC continued in their carnival in Abuja without acknowledging or expressing concern.”

It wondered, "Is this not a case of ‘Buhari fiddles while Nigeria burns?’”

The party also said, "The APC government has failed, become numb to violence against our citizens, and can no longer perform its primary duty under Section 14 (2)(b) of the Constitution of the Federal Republic of Nigeria 1999 (as amended), which provides that ‘security and welfare of the people shall be the primary purpose of government.’”

The party argued that Buhari’s failure to address the Kaduna airport attack was consistent with his characteristic abdication of duty at critical times, recalling how in January, the president cancelled his scheduled visit to Zamfara State, a state it claimed was daily traumatised by terrorists.

PDP alleged, "By that action,

Mr. President allowed shared sovereignty with terrorists over a part of the territory of the Federal Republic of Nigeria. This acquiesce emboldened the terrorists to now expand their control to the international airport in Kaduna, ostensibly with the possibility of using it to import arms and ammunition as well as coordinate terrorist activities in our country.

"One of the main features or determinants of sovereignty is the ability of an authority to impose taxes, enforce collection, control commercial activities as well as exit and entry points, including airports.

“Under President Buhari, terrorists have established sovereignty in substantial parts of the country, especially in the Northwest and North-east regions, where terrorists execute laws and impose penalties, collect taxes, control commercial and transportation activities and now take control of an international airport with grave negative consequences to our national image in the world.

"Our country has never had it this bad with such a weak, uncoordinated, and clueless president with an inhumane,

visionless and propaganda-driven political party like the APC.” PDP stressed that Nigerians should rally round its members in their mission “to rescue the nation from the precipice and restore the unity and security of her people.”

On its part, Afenifere stated that the airport invasion by suspected terrorists was another indication of the deteriorating security situation in the country.

Afenifere, in a statement by its National Publicity Secretary, Mr. Jare Ajayi, frowned on the incident, which happened on the very day the ruling APC was holding its national convention in Abuja. It warned that some people seemed to be bent on re-enacting the Afghanistan situation in Nigeria.

The group called on all those who believed in freedom, peaceful co-existence, personal liberty, true knowledge, and progress to rise up and ensure people who should act acted promptly.

Afenifere listed some security infractions that took place between Friday and Saturday in parts of the country and regretted that it was as though the country was at war, especially, in those areas where the unfortunate incidents occurred.

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T H I S D AY • MONDAY, MARCH 28, 2022

NEWS BUHARI: OUR UNITY AT CONVENTION SIGNPOSTS VICTORY IN 2023 POLLS and leaders of the party at all levels, as well as members of the party nationwide for electing them into offices of responsibility and promised to discharge his duty with diligence.

He said while he acknowledged the onerous responsibility that had been placed on their shoulders as an executive, they would work hard to ensure that expectations were met and the party was not disappointed.

To those, who lost in the contest, Adamu said, “I wish to also congratulate the great party men and women, who also aspired to occupy these national offices of our great party. They did not succeed this time but in God’s time, many of them will yet realise their ambitions to serve our party and country in many other positions of responsibility.

“As politicians, we are not strangers to gains, losses and disappointments with the outcome of every political contest. Let us show maturity and good sportsmanship and accept the outcome of this convention with grace. Our party needs all hands on the steering wheel so that together we can steer the ship of state through the inclement weather of our divisive national politics to the promised land.”

He charged APC members to renew their faith in the party and its leadership at all levels and remain patriotic.

On reconciliation, he said, “We need to commit to the resolution of our crisis within the confines of our party constitution. We must resist the temptation to blow every minor personal disagreement into a major party crisis. It is time for us to do things differently. When we quarrel, we open our flanks to our rival political parties that are only too eager to exploit them for their own benefit.

“I promise you here and now that we shall heal any wounds in our party; we shall effect lasting reconciliation among our members, and we shall go into the next general election as a strong and united party. I offer my hands of friendship to all our members.

I want to assure you that my colleagues and myself will run an open-door policy to all members of the party.

“Together, let us rise and march towards the sunrise in our party and in our country. The time has come for us to show statesmanship to arrive at the new dawn. The time has come for us to be patriotic in words and deeds. The time has come for us to affirm our being the party of the people, for the people and by the people.”

He urged the media to address the tone, content, and standard of reporting, appealing to them to take a cue from the late Dr. Nnamdi Azikiwe, Chief Obafemi Awolowo, Malam Abubakar Imam, Alhaji Alade Odunewu and other media pioneers, who upheld “the patriotic spirit of the founding fathers of their profession.”

Adamu, a founding member of PDP, two-term PDP governor of Nasarawa State, and secretary, Board of Trustees of the PDP, before emerging senator under the PDP, defected to the APC at the twilight of the ex-President Goodluck Jonathan administration in 2014.

The new National Secretary of the party, Senator Iyiola Omisore, was also a PDP senator for Osun East from 2003 to 2011.

The list of politicians with PDP foundation in control at the APC NWC is long and include Festus Fuanter (Plateau State), Deputy National Secretary; Muazu Bawa Rjau (Niger State), National Vice Chairman, North-central; Mustapha Salihu (Adamawa State), National Vice Chairman, North-east; Barr Ahmed El-Marzuk (Katsina State), National Legal Adviser; Uguru Matthew Ofoka (Ebonyi State), National Treasurer; Senator Abubakar Maikafi (Bauchi State), National Auditor; Dr Betta Edu (Cross River State), National Women Leader; Barr F.N. Nwosu

(Abia State), National Welfare Secretary; and Nze Chidi Duru (Anambra State), Deputy National Organising Secretary.

Jigawa State Governor and chairman of the convention committee, Bello Matawalle, said, five positions were contested out of the 35 national officers and only few on the zonal level, out of the whole 78 positions.

Almakura, Salihu Mustapha, Mohammed Etsu, Abdulaziz Yari, Sani Muhammed, and George Akume were the six chairmanship aspirants, who stepped down for Adamu after a consensus agreement was reached just hours before the convention proper.

Al-Makura: We Disappointed Naysayers, Enemies Former Governor of Nasarawa State, Senator Tanko Al-Makura, said APC disappointed naysayers and put the enemies of the party to shame with the successful conduct of its national convention.

Al-Makura, in a statement, congratulated Adamu, who emerged new national chairman of the party.

The statement said, "In displaying our first-rate problemsolving, dispute resolution, and organisational aptitude through a rancour-free and smooth national convention, our party has, once again, disappointed the naysayers and put the enemies of the party to shame.

"With the national convention done and dusted, I have no doubt that our great party is now well-repositioned and good to go into the 2023 elections with confidence, as I have no doubt that the new leadership has all it takes to navigate our party to victory in 2023 and beyond."

Oyetola: Successful Outing is Proof We’ll Remain in Power Beyond 2023 Osun State Governor Adegboyega Oyetola, at the weekend, said the successful outcome of Saturday’s national convention of APC was proof that the party would remain in power beyond 2023. Oyetola was happy everything went well, despite negative expectations of pessimists He expressed confidence in the ability of the new National Secretary of the party and representative of Osun State in the National Working committee (NWC), Senator Iyiola Omisore, to deliver, even as he congratulated the party’s National Chairman, Senator Abdullahi Adamu.

The Osun State governor, who said the peaceful conduct of the convention was a sign that the ruling party was united, formidable and remained indivisible, also held the view that Adamu would bring his wealth of experience to bear in the administration and management of the party’s affairs.

Oyetola, in a statement yesterday by his Chief Press Secretary, Mr. Ismail Omipidan, expressed confidence in the existing unity in APC. With this he said the party would remain in power beyond 2023, by the grace of God, and thanked Buhari for providing the right leadership.

The governor stated, "First of all, I must thank our leaders in the South-west for their support for our own Senator Iyiola Omisore.

This is a great thing for us in Osun APC and I must thank other contestants for conceding and accepting to withdraw from the race.

“I commend them for the bold step, just as I assure them of our support in their time of need. I have no doubt in the capacity of Otunba Omisore to deliver and take our party to a greater level.

"As you can see, the peaceful atmosphere here and the seamless conduct of the convention, is a

testimony to the strong unity that exists in our party. It is an attestation to the fact that we have our ways of resolving issues without necessarily resorting to conflict.

"Contrary to the negative expectations of some people, the convention went peacefully.

The security operatives have done wonderfully well. I am really proud of what has happened today (Saturday). It is a sign that our party is united, formidable and remains indivisible.

"In achieving all these, I must personally commend the leadership quality provided by President Muhammadu Buhari, who always advocates harmony and peace in the party. It is natural to have disagreement, but what is important is the ability to have a workable mechanism to resolve any crisis without necessarily resorting to rancour."

Expressing in confidence in the ability of Omisore to deliver and contribute to the growth of the party through his new position, the governor said Omisore would deploy his political sagacity, leadership qualities and experience, which he acquired in public and private sectors, towards building a virile and healthy party at the centre.

Sanwo-Olu Congratulates New Party Leadership Lagos State Governor, Mr. Babajide Sanwo-Olu, congratulated the newly elected national chairman of APC, Senator Abdullahi Adamu, and other members of the NWC as well as zonal executives of the ruling party. Sanwo-Olu charged the Adamu-led NWC to work tirelessly with APC leaders and stakeholders to make the ruling party stronger for it to retain power in 2023 at the federal level and win more states in addition to the 22 states currently governed by the party.

The governor commended Buhari for his fatherly and leadership role in ensuring that that APC national and zonal executives emerged through a consensus arrangement. He noted that many aspirants, especially, the national chairmanship aspirants, stepped down, because of the respect they had for Buhari and other leaders of the party.

Sanwo-Olu, who was excited with the outcome of the convention, also commended the aspirants, who voluntarily stepped down for members of the NWC and zonal executives at the six geo-political zones to emerge through a consensus arrangement.

Sanwo-Olu, who was Chairman, Finance Committee for the APC National Convention, praised over 7,000 delegates from 36 states and the Federal Capital Territory (FCT), Abuja, for participating in the convention.

He also congratulated the representatives of Lagos State in the National Working Committee (NWC), Mr. Dayo Israel, who was elected APC National Youth Leader as well as former Lagos State Commissioner for Information and Strategy, Mr. Lateef Ibirogba, who emerged South-west Zonal Organising Secretary.

The governor implored the new executives to work hard with APC national, zonal and state executives, as well as party leaders and members for victory of the ruling party in Lagos State, South-west and Nigeria, at large, during the 2023 general election.

Fayemi Rejoices With Adamu, Others, Lauds Buni on Successful Tenure Ekiti State Governor and Chairman, Nigeria Governors’ Forum, Dr Kayode Fayemi, congratulated the newly elected

national executives of APC under the chairmanship of former Nassarawa State Governor, Senator Abdullahi Adamu, on their emergence at the party’s just concluded national convention.

Fayemi lauded the APC national caretaker committee headed by Yobe State Governor, Mai Malla Buni, for organising a successful national convention aimed at strengthening the party ahead of the 2023 general election.

In a statement shortly after the new executives were inaugurated, Fayemi said he was happy the party’s convention held successfully, despite initial anxieties, divergent interests and opinions of members over what they considered the best way moving forward.

He congratulated Adamu, the national Secretary, Omisore, and other elected NWC members, whose elections were ratified at the convention, and wished them success in the task of repositioning APC as the undisputable number one political party in the country with attendant electoral fortunes.

He urged the new national officers to look beyond the various opposition expressed by individuals or groups to their aspirations ahead of the convention, saying it is normal in any democratic setting. He urged the new executives to hit the ground running by reaching out to aggrieved party members and running an inclusive administration.

Lawan: Integrity, Experience Earned Adamu APC Chairmanship President of the Senate, Dr Ahmad Lawan, while congratulating Abdullahi Adamu on his emergence as the new national chairman of APC, said integrity and experience earned him the position.

Lawan, in a congratulatory message on Sunday, reiterated that Adamu's victory at the national convention was a testimony to the tremendous respect he enjoyed across the polity for his integrity, experience and leadership capacity.

Lawan said, "I heartily congratulate His Excellency, Senator Abdullahi Adamu, on his emergence as the National Chairman of the All Progressives Congress (APC) from the just concluded National Convention of our great party.

"The unanimous affirmation of Senator Adamu's candidature at the convention is a testimony to the tremendous respect that he enjoys across the polity for his integrity, experience and leadership capacity. I share this common belief in his suitability for piloting the affairs of our great party from this very important juncture.

"Senator Adamu's antecedents as a political leader and astute administrator show that our party has made a great choice in his election as our National Chairman."

The senate president also congratulated other members of the newly inaugurated NWC and zonal officers of the party on their elections and urged them all to do their best to deliver their mandates and live up to the great expectations of the teeming members of APC across and outside of Nigeria.

The senate president said the people of Yobe State were extremely proud of Buni for his achievements while he was chairman of the CECPC of the APC.

Gbajabiamila: We Remain One Big Family Speaker of the House of Representatives, Hon. Femi Gbajabiamila, said the way things turned out at the convention were proof the party remained

one big family. Gbajabiamila said this while congratulating Adamu on his emergence as chairman at the party's national convention on Saturday.

Gbajabiamila also congratulated other elected members of the party's NWC, such as Deputy National Chairman (North), Senator Abubakar Kyari; Deputy National Chairman (South), Chief Emma Eneukwu; National Secretary, Otunba Iyiola Omisore and the six vice chairmen, among others.

The Speaker, in a congratulatory message, reiterated that Adamu's emergence through a consensus arrangement proved that APC was one big family, where its members resolved their differences amicably.

He, however, tasked the new chairman and the other members of the NWC to put heads together to transform the party ahead of the 2023 general elections, He expressed optimism in the ability of Adamu and his NWC members to rally round APC members and other Nigerians to take the party to victory.

Yahaya Excited over Convention Outcome, Hails Buhari Gombe State Governor, Alhaji Muhammadu Inuwa Yahaya, expressed excitement over the outcome of the party’s national convention, which elected former Nasarawa State governor, Abdullahi Adamu, as National Chairman. Yahaya also hailed President Muhammadu Buhari for provided the much-needed leadership.

In a statement issued by his Director General, Press Affairs, Ismaila Uba Misilli, the governor also felicitated with other national and zonal officers of the APC, who were elected.

Inuwa, particularly, praised the leadership, direction, and guidance of Buhari, which, he said, facilitated the consensus arrangement that produced the leaders of APC. The statement said, "The maturity displayed at the convention has demonstrated the spirit of unity of purpose and strong will of our members as well as indivisiblity of the force of our great party.

"Special appreciation must go to our leader and amiable President Muhammadu Buhari, GCFR, for providing leadership and guidance that saw to the successful and rancour-free conduct of the convention."

The governor also praised the caretaker/extraordinary national convention planning committee, headed by Governor Mai Mala Buni of Yobe State, for successfully superintending over the affairs of APC within the period of its stewardship and for strengthening unity, understanding and camaraderie among party faithful.

We’re Equal to the Task, Says Ganduje Kano State Governor Abdullahi Ganduje said the party had the necessary capability to succeed in the conduct of its national convention. In a statement yesterday, Ganduje said the exercise had made the party more united and stronger.

“And we are sure we are equal to the task. It is also a great success if you look at the procedures followed in order to come up with this exercise. I know you are aware that President Muhammadu Buhari has advised us to go on consensus," Ganduje said.

To effectively comply with Buhari's advice, the governor said, "We undertook a lot of consensus in this exercise."

He explained that in areas where consensus did not work, they had to go into election with all the proper procedures for election.

"You can see that they have counted votes and some

announcements were made.

Winners have already emerged as winners," he said.

Ganduje appreciated that at the end of the exercise, "We have come up with a new brand of leadership.”

Your Chairman is Battling Alleged Corruption, Opposition Mocks PDP, yesterday, mocked APC over its choice of Abdullahi Adamu as national chairman, saying he is battling corruption allegation. The opposition party said Adamu had been arraigned in court on a 149-count charge of alleged fraudulent award of contracts and stealing of public funds estimated at N15 billion.

PDP described the APC event as a convention of lies, celebration of illegality, corruption and arrogance in failure, adding that any leadership birthed through such process can only be overtly corrupt, debauch and illegal.

In a statement by its National Publicity Secretary, Debo Ologunagba, PDP said it was clear that with the combination of the corrupt, deceitful and rudderless Buhari-led APC government and the illegitimate Adamu-led party leadership, corruption, economic hardship and rudderless movement in the APC government would worsen in the country in the remaining one year of the APC in government.

PDP said the composition of the APC national leadership was a clear confirmation that Buhari had never been committed to the fight against corruption as well as his willingness to further open the national vaults to ravenous treasury looters in APC. It challenged members of the APC national leadership, particularly, Adamu, to come clean on corruption charges against them.

PDP stated, "The new APC chairman should inform Nigerians why he was not courageous enough to submit himself to trial at the Federal High Court, Lafia, Nasarawa State, rather than hide under technicalities. Senator Adamu should, therefore, come clean to Nigerians on the said case before parading himself as a saint.

"It is, therefore, pathetic to see Senator Adamu showboating on stage to impress his puppet master by attempting to denigrate other Nigerians and our great party, the PDP. "Our party has only pity for Senator Adamu and does not intend to confer him an undue relevance with a response. Senator Adamu should, however, be conscious of the fact that time does not run against the state in criminal matters. He should, therefore, not have any illusion that being an APC chairman will avail him a perpetual cover.

"It was appalling to see APC leaders come out one after the other at their national jamboree to spew out lies and false performance claims on the economy, infrastructure and security even in the face of biting economic hardship, high cost of living, excruciating fuel emergency, lingering crisis in the education sector and escalated insecurity that was happening real time and simultaneously when the ridiculous claims of achievement were being made.

"Is it not shameful that while APC leaders were lying on stage in Abuja, terrorists were busy attacking the Kaduna International Airport, located in an APC-controlled state?"

The PDP, however, restated its cautions that the APC NWC did not have the legitimacy of office as the process that produced it under the Caretaker/ Extraordinary Convention Planning Committee (CECPC) remained unconstitutional and flawed.

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

DIPLOMATIC VISIT...

L-R: Italian Deputy Head of Mission to Nigeria, Tarek Chazli; Spanish Ambassador, Juan Sell; European Union Ambassador, Samuela Isopi; Minister of State Petroleum Resources, Chief Timipre Sylva; French Ambassador, Emmaunelle Blatmann and Portuguese Ambassador to Nigeria, Luis Barros, during a courtesy call on the minister, in Abuja… recently

A'Ibom Tackles ExxonMobil over Alleged Move to Sell Govt’s Assets Without Its Consent Files action to stop sale

Okon Bassey in Uyo Akwa Ibom State government has criticised Mobil Producing Nigeria (MPN) Unlimited, a subsidiary of ExxonMobil over its recent attempt to sell off some of the state’s assets even when there was a pending court case.

Speaking during an interaction

with journalists in Uyo, at the weekend, the Akwa Ibom State Attorney General and Commissioner for Justice, Mr. Uko Essien Udom, disclosed the state government had filed a suit to prevent Mobil from proceeding with the assets sale.

He described the move as upsetting and unbecoming of

a responsible corporate citizen.

The state government said it was most irresponsible that the international oil company (IOC) did not inform the state government, a critical partner, of the intention to carry out such major activity on its shared assets.

ExxonMobil recently informed

NEITI: Three Companies Paid 94.6% of Mining Industry's Social Expenditure in 2020 Emmanuel Addeh in Abuja Only three companies paid 94.6 per cent of the total N3.887 billion social expenditure in the mining sector in 2020, the latest report from the Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed.

The document listed Dangote Plc, Lafarge-Wapco as well as First Patriots as the three out of the 29 entities that submitted their social spending, as being responsible for the N3.48 billion of the N3.887 billion payment.

Detailing the data in its Solid Minerals Audit for the year under review, the Dr. Ogbonnaya Orji-led organisation noted that while Dangote paid N2.18 billion, representing 56.36 per cent, Lafarge-Wapco made a payment of N1.260 billion, while First Patriots paid N219.9 million.

Some other companies which provided documents on their social spending during the period, according to NEITI, included: CCECC, Nigeria Limited, which paid out N49.2 million or 1.7 per cent and Triacta which expended N35.5 million or 0.92 per cent of total spending.

In all, the 29 companies spent N376.5 million on their mandatory social obligations and N3.495 billion on non-mandatory social spending, to hit a total of N3.87 billion.

Similarly, three separate entities paid N5.7 million as environmental expenditure, including Mother Cat, Rock Bottom and Solid Unit, Nigeria.

Out of the 102 recorded as carrying out operations in the mining industry, only 29 complied with providing details

of their social spending for audit, NEITI stated.

The Extractive Industries Transparency Initiative (EITI) requires an audit of social payments, environment, quasi fiscal expenditures, the contribution of extractive sector to the economy and environmental impact of extractive activities as part of the content of the report.

The organisation explained that social payments are payments or contributions by extractive companies to promote the development and foster better partnerships with host communities.

“These payments can be mandatory (mandated by law or contractual obligations) or nonmandatory (i.e., discretionary) and can be made either in cash or in kind,” it noted.

On the other hand, it explained that environmental expenditure are payments by companies to the government related to the environment, while quasi fiscal expenditures are calculated if state-owned enterprises participate in the sector.

“The social expenditure in 2020, based on data received from 29 companies, was N3.87 billion, representing an increase of 49 per cent compared to the 2019 figure.

“There is still much to be done by the regulatory agencies to ensure all companies in the industry abide by the social expenditure commitments they signed in the Community Development Agreements (CDAs) before commencing operations,” NEITI stated.

In terms of employment, NEITI noted that of the 29 companies which provided information on the development, it found that 5,820 workers were hired in the sector, 86 per cent of which were males and 14 per cent females.

NEITI observed that despite large quantities of barite in the country, cutting across Nasarawa, Plateau, Taraba, Benue, Ebonyi and Cross River, many Nigerian companies still import the mineral.

Despite the social spending, many host communities complain of being badly treated by the companies operating in their areas, with their operations resulting in the devastation of the environments and sometimes leading to lead poisoning.

the general public that it had reached an agreement to sell its equity interest in Mobil Producing Nigeria Unlimited to Seplat Energy, a Nigerian independent oil and gas company, through its whollyowned subsidiary Seplat Energy Offshore Limited.

President, ExxonMobil Upstream Oil and Gas, Liam Mallon had in a statement explained: “This sale will allow us to prioritise competitively advantaged investments in our strategic assets, and it supports the Nigerian government’s efforts to grow its oil and gas operations.

“We value the relationships we have spent decades building with the government and people of Nigeria, which will continue as we maximise the value from our deepwater operations.

"When finalised, the sale will include the Mobil Development Nigeria and Mobil Exploration Nigeria equity ownership of Mobil Producing Nigeria Unlimited, which holds a 40 per cent stake in four oil mining licenses, including more than 90 shallow-water and onshore platforms and 300 producing wells."

To Udom, the attempt to sell-off some of the assets, some of which were shared between

the duo and the alleged plans by the company to relocate from the state would further frustrate the outcome of the initial court case.

He added: "Mobil has not formerly informed the state government that they are selling and leaving. Everything we heard were from the press, which is most irresponsible for any corporate citizen. There's been no direct contact with us. That's an action that may frustrate the outcome of a pending court case.

"Akwa Ibom State Government had to enter a court case restraining Mobil from continuing with the proposed sale of its assets and that's because there is a pending litigation between Mobil and the government of Akwa Ibom State.

“The attempt to sell its asset, some of which may include assets belonging to Akwa Ibom State was handled in a manner that is rather upsetting.

"Mobil has been in Akwa Ibom State for several years and the relationship has been very good until recently. The fact that they'll attempt to sell in a surreptitious manner without any discussion with the government of Akwa Ibom State is very distressing and not to be expected of a responsible

corporate citizen.”

Giving an insight into why ExxonMobil may have dragged the state government to court in the first instance, Udom said, "All the land in Akwa Ibom belong to government, the government gives out certificate of occupancy (CofO). Some of the certificates of occupancy purportedly old have been revoked.

“They actually sued Akwa Ibom government challenging the revocation of some of the CofOs and the matter is pending and its continuing "It is therefore a big surprise to us that in the pendency of these law suits, they went ahead and attempted to sell some of the assets and leave.

“That is why we have the order, stopping them from continuing the sale and removing any asset from Akwa Ibom State.

The sell-out cannot be allowed to proceed because when you have parties contesting ownership of an assets, all those things would be kept in abeyance.

"The court has the right to keep what is called, ‘subject matter of litigation.’ Any attempt by either of the parties to deplete the asset or sell or dispose of them would be resisted by the court. It is contemptuous actually,” he stressed.

At 36% Completion, FG Wants Work on 10-storey NUPRC Building Fast-tracked Emmanuel Addeh in Abuja The federal government at the weekend urged Julius Berger, the contractors handling “The Barrel”, the multi-billion-naira new office building belonging to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), to speed up work on the project.

The government explained that this should be done in time before President Muhammadu Buhari’s exit from power next year as earlier agreed.

Minister of State, Petroleum Resources, Chief Timipre Sylva, who led a team to assess the level of work, along with the Chief Executive of the NUPRC, Mr. Gbenga

Komolafe, stated that although the government was satisfied with the quality of work, but the pace had been unnecessarily slow.

Located at the strategic Central Business District of the Federal Capital Territory (FCT) Abuja, the 10-storey building which was approved by the Federal Executive Council (FEC) in 2020, was initially scheduled for completion in 24 months.

It spans 4,150 sqm with the main building itself occupying a total ground floor area of approximately 48,400 sqm, comprising a basement and a penthouse.

Sylva noted that although some progress had been made, it was important for the project to be

completed before May 29 next year, stressing that the 36 per cent work already carried out should have been higher by now.

“In 2020, there was a time frame that was presented to the FEC that this project was going to be completed in 24 months, counting from the time. That means that you have done more than half of the time that was given to us by the FEC. “From the time it passed through FEC and the actual laying of the foundation is a little bit blurry.

Coming to see where the project is at now is even more disturbing.

I can see that a lot of work is going on and the quality of work, but you must pay attention to speed,” he told the contractors.

Reminding the Managing Director of Julius Berger, Dr. Lars Richter, that the nation was in an electioneering era, he stressed that the intention was for Buhari to inaugurate the project which he started, adding that the projection was that the construction would get to the roofing level at the end of this year.

“Then I can see very clearly that this project is not meant for the president to commission. But that definitely is not the intention, so I want you to bear this in mind and to do everything that you think is possible within the constraints of your professional ethics to ensure that this project gets to completion within the timeframe that was approved

by FEC.

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MOU BETWEEN NCX AND CSCS...

L-R: Divisional Head, Business Technology and Digital Innovation, Central Securities Clearing System (CSCS) Plc, Mr. Tobe N. Nnadozie; Head Business and Operations, Nigeria Commodity Exchange (NCX), Ms. Salamatu Jubril-Adeniji; Interim Coordinator, NCX, Mr. Elenwor Ihua; Divisional Head, Sales and Business Development, CSCS Plc, Mr. Adeyinka Shonekan; Head, Abuja Office, CSCS Plc, Ms Jameela Tafida-Sambo; and Head Shared Services, NCX, Mr. Adekunle Kolawole Adeniji; during the signing of MoU between NCX and CSCS in Abuja...recently

US: Disclosure of Companies’ Beneficial Owners Key in Tackling Illicit Financial Flow Identifies real estate sector as major conduit Alex Enumah in Abuja The United States of America (USA) has observed that for the fight against Illicit Financial Flow (IFF) to record any meaningful success, countries and governments of the world must embrace policy of Disclosure of Beneficial owners of companies established in their respective country, just as it identified the real estate sector as a major toll for criminals in moving their proceeds of crimes.

The Director, Financial Transparency and Regulatory Policy, Office of Terrorist Financing and Financial Crimes, US Department of Treasury, Young Lee, who made the remark during US Foreign Press Center Virtual

Briefing on US Anti-corruption efforts, argued that, “corruption thrives in the financial shadows in shell corporations that disguise owners' true identities, in offshore jurisdictions with lax anti-money laundering regulations, and in complex structures that allow the wealthy to hide their income from government authorities.”

Speaking on the theme, “Curbing Illicit Finance,” Lee disclosed that criminals all over the world have formed the habit of hiding their identities behind corporate structures and laundering their illicit proceeds through real estate.

The director further pointed out that this illicit finance, if not tackled, was capable of undermining and impairing good governance and

Our Inactivity in Politics Placed Us in Pitiable Condition, Says TUC President Ugo Aliogo The President of Trade Union Congress (TUC), Mr. Quadri Olaleye, has stated that the inactivity of the union in politics has put its members in a pitiable condition, especially in the area of implementation of minimum wage.

Olaleye disclosed this at a media briefing in Lagos yesterday, to inaugurate the south-west political commission that would be saddled with the responsibility of sensitising members of the public on the 2023 elections.

He also stated that part of the agenda was that the congress would roll out an agenda that is sellable, adding that the TUC would make use of its numbers.

He said the TUC had earlier convened a political round table with the theme: “The Role of Organised Labour in Promoting Participatory Democracy and Good Governance in Nigeria: Perspectives on 2023 General Elections” in Abuja recently.

“The round table provided a platform that elicited conversations on varied political, social, and economic challenges facing the country and the task before the Labour Movement in providing solutions through a working people political alternative to perennial leadership problems in Nigeria,”

he said.

TUC president, who spoke about the danger of workers staying away from politics and expressed the commitment of the leadership of the Congress not to waste the opportunity provided in a liberal democracy again.

Olaleye revealed the readiness of his leadership to mobilise members of TUC, Nigerian Workers, and the masses in general to change the political leadership narrative in Nigeria for transformative governance and social justice.

According to him, the TUC would not be part of the group that would destabilise the peace of the country.

He recalled that the Department of State Services (DSS) had warned of a sinister plan to stoke violence in parts of Nigeria, particularly the North-Central region.

Continuing, he said: “The TUC want a situation whereby in the 2023 elections, all workers will be fully mobilised to go to the polls and elect the best candidate for their agenda.

“2023 is very important to the working class of this country; so on that note we are going to inaugurate the electoral commission of the six States and part of their responsibilities is to engage politically on behalf of the trade union congress of Nigeria.

any country, as well as threatening national security and prosperity.

He stated that as part of curbing illicit finance, the US introduce some legislations such as the Anti-Money Laundering Act, 2020 and the Corporate Transparency Act (CTA).

"This legislation passed with bipartisan support was the culmination of many years of effort to address one of the most significant deficiencies in the US AML regime. That is the lack of a nationwide requirement to disclose information about the actual people who own or control companies, also known as the beneficial owners of at the time

of company formation.

"This was a deficiency highlighted by the Financial Action Taskforce in its 2016 assessment of the US regime, and was one of the main reasons we received the lowest possible rating for the immediate outcome related to preventing legal entities and arrangements from misuse, from money laundering financing and making sure that beneficial ownership information is made available to competent authorities without impediments", he said.

According to him, under the CTA, certain US and foreign companies are required to disclose their beneficial owners to FinCEN,

the US Financial Intelligence Unit, at two key points: when they are formed or registered in the United States, and when their beneficial owners change.

In addition, he said the CTA also requires certain types of financial institutions in the US, like banks and securities broker dealers, to collect and verify beneficial ownership information when legal entities open up new accounts at their institutions in order to conform those regulations to the framework of the CTA. "Financial institutions and other private sector organizations must undertake robust due diligence and actively seek to avoid corrupt

clients and counterparties to keep our financial systems secure," he added.

Other efforts, he said the US has deployed in curbing illicit finance and which other countries of the world can emulate, was the pursuit of transparency of the US real estate market.

He said, "Lack of transparency into certain parts of the real estate market is a significant regulatory gap that bad actors have been able to exploit. For example, one NGO study published in 2020 estimates that approximately $2.3 billion has been laundered through the US real estate market over the previous five years".

2023: South-east PDP Backs Southern Governors’ Stance on Zoning of Presidency Wike declares intention to contest for president in 2023 Chuks Okocha in Abuja, George Okoh in Makurdi and Blessing Ibunge in Port Harcourt The Peoples Democratic Party (PDP) in the South-east geopolitical zone has aligned with the position of the Southern Governors’ Forum that the next president of Nigeria should come from the southern part of the country.

This is just as Governor Nyisom Wike of Rivers State has declared his intention to run for the office of the President of Nigeria in the 2023 election, under the PDP. Furthermore, the PDP southeast also directed that the existing zoning patterns in states and constituencies of the zone must be strictly observed and adhered to in every state and constituency of the zone.

According to a statement, briefing newsmen after the Zonal Executive Committee (ZEC) meeting of the PDP, held in Enugu, and attended by the leader of the party in the south-east and Governor of Enugu State, Rt. Hon. Ifeanyi Ugwuanyi, his Abia State counterpart, Dr. Okezie Victor Ikpeazu, the National Secretary of the Party, Senator Sam Anyanwu, members of the State and National Assemblies, members of PDP

National Executive Committee (NEC), Board of Trustees (BOT) members, among others, the National Vice Chairman (South East), Chief Ali Odefa, disclosed that it was unanimously agreed that the PDP should zone the presidency of the Federal Republic of Nigeria to the southern part of the country ahead of the party primaries.

Odefa added that the PDP south-east stands with the resolution of the Southern Governors’ Forum, “that the Office of the Presidency should be zoned to the southern part of Nigeria”.

On the issue of zoning at the state and constituency levels in the zone, the PDP National Vice Chairman stated: “We said where there are zoning patterns they must be strictly observed and adhered to in every state and constituency.”

Odefa added: “We also went ahead to make interventions for our members who are holding political and elective positions in Anambra State who didn’t defect to other political parties in the time of the election but stood by the party (PDP) in times of bad weather, that they should be given support to return back to their various offices”.

He, therefore revealed that

the zonal leadership of the party would make a presentation to the National Working Committee for assistance in that regard.

Wike Declares Interest to Contest for Presidency Meanwhile, Wike has declared to run for the office of the President of Nigeria in the 2023 election under the PDP. Wike who made this known when he visited his Benue State counterpart, Samuel Ortom at the Government House in Makurdi, yesterday, said he was making his intention to contest for presidency known for the first time in Benue.

He argued that he was the best Nigerian for the job, boasting that the PDP would remove the APC from power.

“To remove APC from power, I’m the person who can tell them enough is enough. We must take this power and I’m ready to take it for PDP. God is with us that’s why APC keeps failing every day,” he added.

Wike also urged stakeholders to give him their mandates and not to sell their votes, assured that he has the capacity to, “face this evil government.

“He queried those founding fathers who ran away from the party and still want to be recognised, saying,” by the time you ran away, you sold your share as a founding father so you can no longer retain your position of founding fathers.

“I stood for this party; I work for this party since 1998. I have nowhere to run to and that’s why anything that happens to this party I take personally. I have never relented.

“In 2015, those who ran away made us lose election, today, they are crying but some of us stood and said PDP will not die.

“Some people want to use Nigeria to buy back their personal business, they talk about private sector. Mention the private business that survive. Is it banks that your father had? Everybody is an employer of labour. Even in my house I have 50 people who feast from me.

“They should stop deceiving us.

I have performed as a governor and carry my shoulders high anywhere. I have the capacity to face this evil government. Just give me the mandate. I will speak the truth to power and nothing but the truth. I have the capacity to move this country forward,” he said.

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CSR TO THE RESCUE ...

L-R: President Rotary Club, Jeremiah Adie; District Head of Gwarinpa, Chief. Umar Bayero; Primary School Head Teacher, Mrs. Ekechukeu Elizabeth, and District Governor, Mr. Ayoola Oyedokun, during the club donation of modern toilet facility to Gwarinpa LEA Primary School in Abuja... recently

SERAP Writes INEC, Seeks Details of Privacy, Security of Election Data Chuks Okocha in Abuja The Socio-Economic Rights and Accountability Project (SERAP) has urged the Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu, to,

“widely publish the details of safeguards and mechanisms put in place to protect the privacy and security of election information and data in the custody of INEC, including in its servers, databases and other electronic formats.”

OML 13: NNPC, NOSL Set to Begin Exploration Work in Akwa Ibom First oil expected by year-end Peter Uzoho The Nigerian National Petroleum Company (NNPC) through its upstream subsidiary, the National Petroleum Development Company (NPDC) and Natural Oilfield Services Limited (NOSL), an indigenous operator, would commence exploration work on the Oil Mining Lease (OML) 13 by end of 2022.

In a statement yesterday, the partners disclosed that the first oil from the asset would be achieved by the end of 2022.

OML 13 is a large block in Akwa Ibom State, Nigeria's oil rich Niger Delta and is reported to hold in-place volumes of over 900 million barrels of oil and 5 trillion cubic (tcf) of gas.

The Managing Director of NOSL, Dr. Anthony Chukwueke, was quoted to have disclosed this on Friday, during an inspection of the exploration site in company of the Managing Director of NPDC, Ali Zarah; Governor of Akwa Ibom State, Mr. Udom Emmanuel, and Managing Director, Sterling Oil Exploration and Energy Production Company (SEEPCO) Limited, Mr. Mohit Barot, amongst others.

The exploration on the asset is coming nearly three years after the signing of the Financing and Technical Services Agreement between NNPC and SEEPCO for the development of OML 13.

The agreement with SEEPCO was for a period of 15 years while the $3.15 billion ceiling funding would be provided by SEEPCO with a 10-year capital investment period and five years for cost recovery, according to the Group Managing Director of NNPC, Mallam Mele Kyari.

Kyari had explained then that the deal was intended to help boost the nation’s crude oil reserves and daily oil production to 3 million barrels per day (bpd) He said the acreage had over 926 million stock tank barrels (mmstb) and 5.24 tcf of oil and gas reserves, respectively, adding that first oil of about 7,900 bpd was expected from the project by the second quarter (Q2) of 2020, while production was expected to peak at 94,000 bpd and 542 Mmscf/d within four years.

However, stakeholders at the inspection of the exploration site, said the exploration had dawned a new sunshine in boosting the economy of the state and the nation.

According to them, the latest development opened a gateway of opportunities in the Nigerian oil and gas industry to the local communities by significantly unlocking employment opportunities, empowerment and development projects, as well as creating a great growth milestone for the state and a breakthrough for the host Local Government Areas (LGAs).

Speaking during the inspection at Atabrikang Fields, Eastern Obolo LGA, Chukwueke said OML 13 was determined to play its role in the oil and gas industry in Nigeria.

The NOSL boss stated that the company and its partners have plans to optimise the by-products of oil including petrochemical, fertilizers and polymers plants in future.

He explained that in the long run, such endeavours would minimise the import dependency of the country, save forex exchange and increase earnings by exporting the products to different parts of the world.

SERAP also wants the Commission, to “clarify whether any third-party is involved in the collection, control and use of election information and data, the legal rules and processes guiding the choice of any such third party.”

SERAP also urged him to, “clarify the other location or locations where election information is stored apart from Abuja, and the details of any third-party who has access to such a database, the safeguards and contingency plans put in place by INEC to address any threats to the privacy and security of election information.”

In a Freedom of Information request dated 26 March, 2022, and signed by SERAP’s Deputy Director, Kolawole Oluwadare, the organisation stated that, “Ensuring adequate safeguards and mechanisms to protect the privacy and security of election information and data would improve the ability of INEC to effectively discharge its constitutional and statutory

duties.”

SERAP added: “This would also help to remove risks of attack and unlawful interference by any unauthorised person with election information and data.”

SERAP also demanded that INEC should, “Widely publishing the details of safeguards and mechanisms of election information and data would also contribute to improving the sanctity and integrity of the electoral process, and public trust and confidence in the process.”

The letter, read in part: “Putting in place adequate technological security measures to prevent unauthorised access to election information and data would improve the credibility of the electoral process and the enjoyment of people’s right to participate in their own government.”

“As an institution, which collects, controls and uses election-related information and data in the discharge of its constitutional and statutory duties, INEC has a

legal responsibility to ensure adequate protection of such information and data from threats and vulnerabilities to attack or interference.

“Any interference by unauthorised third-party in election information and data may be used for corrupt, political and other unlawful purposes, and would expose election systems to fraud and meddling, as well undermine the right to participation and the country’s democratic system.

“The right of people to participate in their government is a fundamental feature of any democratic society, and any infringement of privacy and security of election information and data would strike at the heart of representative government.”

It added: “We would be grateful if the recommended measures are taken within seven days of the receipt and/ or publication of this letter.

If we have not heard from you by then, SERAP shall consider appropriate legal

actions to compel INEC to comply with our request in the public interest.

“SERAP notes that voter registration systems and voting systems are the most vulnerable and susceptible to manipulation by corrupt politicians and other actors.

“As the experiences in other countries have shown, election information is often susceptible to unlawful interference by corrupt politicians and other actors, which can be damaging to the integrity of the electoral process and democratic practices.”

“The experiences of other countries demonstrate the need for INEC to take effective and transparent measures to ensure and protect the privacy and security of election information and data, which would protect the integrity of the country’s democracy.

“Any privacy or security weakness in any component of any of the election systems can be easily exploited to cast doubt on the integrity of the electoral process.”

Grant Modular Refineries’ Licences in Niger Delta, Group Tells FG Blessing Ibunge in Port Harcourt The Ogoni Liberation Initiative (OLI) has urged the federal government to grant licences to operators of modular refineries in the Niger Delta as a way to reduce unemployment rate in the region.

The group also stated that by granting the licences, the illegal oil refining operators would be transformed into cooperative, which would benefit the government, adding that crime rate would reduce and the country would generate more revenue as operators pay taxes to the government like other oil multinational companies.

President of OLI, Dr. Douglas Fabeke made the call yesterday, at the end of a stakeholders’ meeting of the Ogoni host

community, held in Port Harcourt.

Fabeke who lauded the efforts of the federal and Rivers State government in tackling the menace of illegal refinery, stressed that modular refineries, if legalised would end the economic sabotage experienced in the country.

He said: "To reduce these illegal refineries, for example, Niger Delta states are oil states; government should set a platform that will be easier for private investors and private sector partners to come into oil and gas industries, setting up modular refineries, giving them licences and reducing the procedures that can be easier for investors to come into this business.

"We already have a proposal we sent to the government and

our proposal is coupled with industrial fabrication for modular refineries. That means we can build the modular refineries here and also fabricate the part and this will create more jobs.

"Like in Ogoni, we don't have a modular refinery and the Eleme Petrochemical Refinery is not working. The government cannot manage its refineries, Nigeria should not be a country where fuel becomes a problem, there is no need to import fuel because we have the crude oil.

"Government should bring up a policy that will enable individuals to go into modular refinery and also refine our oil here. It is also going to reduce the burden and cost on the government by so doing this, it will reduce unemployment.

"Now you have destroyed

all the illegal refineries and bunkering, the boys are on the streets, they will actually enter into another crime because they want to survive, they have seen money.

“So, if government can implement that proposal that each of the states in the Niger Delta should have a refinery, it would create a platform that will be easier for investors to come in and invest."

The group advised other Niger Delta states to emulate steps taken by Rivers government in fighting illegal refinery activities which has reduced the air pollution for some time now.

"There was a time that the federal government planned to build six modular refineries in Niger Delta, and Government cannot do this thing by themselves,” he added.

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T H I S D AY ˾ MONDAY MARCH 28, 2022

17 Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

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

M O N D AY D I S C O U R S E Has the APC Walked into a Booby Trap at Its Convention?

Nseobong Okon-Ekong writes that the All Progressives Congress may have set itself up for a self-defeating litigation with its recent national convention

Displayed ballot boxes

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ith ballot boxes lined up and properly marked for commencement of the voting procedure, which was announced many times by comperes at the Eagle Square, Abuja, while emphasizing on how the over 7000 delegates at the much-anticipated 2022 national convention of the ruling All Progressives Congress (APC) would vote, it was a shocking abrupt and complete reversal of the advertised and evident position when actual voting did not take place in many instances. The order of the day (or night) was clear to everyone present as the voting area was clearly marked out and cordoned with clear signages stating where delegates from the various states were expected to cast ballots for their favourite candidates in the election into the National Executive Committee (NEC) of the APC. Section 82(3) of the Electoral Law states “The election of members of the executive committee or other governing body of a political party, including the election t fill a vacant position in any of the aforesaid bodies, shall be conducted in a democratic manner and allowing for all members of the party or duly elected delegates to vote in support of a candidate of their choice.”

It was over six hours past the advertised arrival time of 3:15pm of President Muhammadu Buhari when he finally made his way into the venue for proper commencement of the convention. Political pundits ascribed this to the hard work needed to arrive at a consensus for all the offices up for grabs at the convention. However, at the end of the day, many dissenting voices managed to rise above the flat monotone of the Governor of Jigawa State, Abubakar Badaru, as he affirmed the election of candidates through a voice vote, starting with the office of the National Chairman of the APC, which is now occupied by Senator Abdullahi Adamu, a former governor of Nasarawa State.

Although, Governor Abdullahi Sule of Nasarawa State campaigned vigorously for national chairmanship of the APC to come to his home state, his choice was his predecessor, Senator Tanko Al-Makura, who was an early starter in the race. Adamu was not in the picture at all. His sudden interest appeared to be a well-orchestrated plan to foist an agenda by a section of the country to retain its hold on power. First, he was given

the assignment of heading APC’s National Reconciliation Committee in the last quarter of last year.

Unlike other contestants for the office, that assignment which was funded by the National Secretariat of the APC gave Adamu the advantage of not spending his own money. As he was going round the country on that mission, he was also selling himself.

Eventually when he made public his intention, he made the necessary contacts, which enabled him to describe himself as a ‘bridge builder.’

Adamu, a complete contrast to the character he claims, cannot be said to have created relationships across the lines of conflict, neither is he known to forge ties across borders, cultures and religions or help to improve communications.

Rather, about the time he was tasked with the job of reconciling aggrieved APC members, Adamu, who until his recent election as National Chairman of the APC, represented Nasarawa West in the Senate showed open hostility to the Southern region of the country. He famously said it was wishful thinking and not practical for the Southern region to think the presidency in 2023 will be

zoned to them.

Often accused by the opposition of promoting a Northern agenda, President Buhari, who was instrumental to Adamu’s emergence through coercion, which is being coloured as respect for Mr. President may have perfected a plan to have a Northerner succeed him, whether from the APC or the opposition Peoples Democratic Party (PDP).

It was Buhari who also stepped in and installed Governor Mai Mala Buni of Yobe State as Chairman of the party’s Caretaker and Extraordinary Convention Planning Committee (CECPC), for an initial period of six months, which eventually lasted for 18 months-a period taken snatched from a Southerner, Adams Oshiomhole-and allowed to run till the term of the Southerner was effectively over.

It did not matter how many persons opposed the CECPC for being a contraption not recognized by the laws of the APC. They were brow-beaten to withdraw their case against the party from the courts.

While it may be argued that the APC is going in a different direction, there is a strong notion that the ruling party is following the trail of the main opposition, PDP, by electing its National Chairman from the North Central. The next line of action expected of the APC to further its grand Northern agenda is to throw its presidential contest open to aspirants from all regions of the country. In the event that party is not able to produce a Northern presidential candi-

Adamu, a complete contrast to the character he claims, cannot be said to have created relationships across the lines of conflict, neither is he known to forge ties across borders, cultures and religions or help to improve communications.

Rather, about the time he was tasked with the job of reconciling aggrieved APC members, Adamu, who until his recent election as National Chairman of the APC, represented Nasarawa West in the Senate showed open hostility to the Southern region of the country. He famously said it was wishful thinking and not practical for the Southern region to think the presidency in 2023 will be zoned to them

date, it will acquiesce with a northern PDP presidential candidate, particularly, if the opposition presidential candidate is either Alhaji Atiku Abubakar of Governor Aminu Tambuwal of Sokoto State.

Disagreeing with this notion, a campaigner for Vice President Yemi Osinbajo to become President in 2023, Dr. Kayode Ajulo, who is a constitutional lawyer based in Abuja said the party is “extremely cautious of every section of the Electoral Act 2022.”

“The fear of every provision of the Act is the beginning of wisdom for the ruling party, I have the privilege information that an Adhoc compliance team was set up to monitor all their action and omission before and during the convention. For instance, political appointees were disallowed to vote, some were even ejected from some state stands. For instance in Ondo State and other states some were directed to resign their appointments. Those that presented themselves for election must come with the acknowledgement of their resignation letter indicating that they’re no more a political appointee. Honestly, I feel vindicated as I slate the leadership of the party for adhering to rule of law.”

Continuing his justification of the processes of the 2022 APC national convention, Ajulo said, “On the issue of consensus, all the posts were duly contested for as there are voting and resolution even where there’s no opposition, those that withdrew were asked to come with a duly signed letter of withdrawal and or come to the podium for open declaration. It’s a brighter day ahead and a good omen for democracy.”

Apparently, he was not aware of some scenario, like the one from Adie Ferdinand Atsu, a contestant from Cross River State, who disowned Barrister Alphonsus Eba Ogar “and his reckless comments about my withdrawal from the contest for Deputy National Welfare Secretary. He didn’t speak for me or with my consent.”

Barrister (Mrs.) Helen Boco Effiom also claimed she did not step down for any aspirant. “We are here to be voted for by his Grace. Please disregard any rumour going around.”

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

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T H I S D AY ˾ MONDAY MARCH 28, 2022

FEATURES

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

Families, Businesses Suffer as Power Supply Deteriorates For weeks, the already bad power supply situation in the country has further deteriorated.

Emmanuel Addeh writes that as the worsening state of affairs continue to persist, Nigerians, both rich and poor are bearing the brunt in diverse ways

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o say that power supply in Nigeria is in a parlous state would be just expressing the obvious. Although Nigeria’s electricity supply crisis is not a recent development, what is different now is the scale of blackouts nationwide.

This has been further exacerbated by the fact that the ready alternatives in the past, like diesel and petrol, used in powering generators in homes and offices are hardly available these days due to multiplicity of factors.

The Perfect Storm The latest prolonged darkness all over the country has been caused by a number of factors, mostly due to the absence of foresightedness, lack of planning, general chaos in the power sector and maybe, the little “beyond our control” part.

From waning gas supply resulting from problematic contracts, to gas supply chain disruption due to vandalism and then drop in hydropower plants water supply, the issues are multifarious.

Aside the aforementioned, there’s also the debts owed the Generation Companies (Gencos) and of course the double collapse of the national grid in 24 hours, creating the perfect storm for the sector.

Cacophony of Reasons However, the Nigerian Electricity Regulatory Commission (NERC) insists that the worsening power situation in the country was caused mainly by the vandalism of the country’s gas supply assets.

Chairman of the Commission, Sanusi Garba, noted that the country lost at least 1,000 megawatts to the challenge, but dismissed the position expounded by the Executive Secretary of the Association of Power Generation Companies (APGC), Dr Joy Ogaji, that Gencos were unable to make more power available because they were owed N1.64 trillion.

He stated that although the Gencos were owed legacy debts, those indebtedness had nothing to do with their current operations, maintaining that if at all there had been temporary delays in payment in the normal course of business, it shouldn’t lead to the generators stopping business for any reason.

Furthermore, Garba noted that whereas the thermal plants which supply 80 per cent of the country’s electricity was supposed to buffer the fall in generation from the hydro plants in the past, due to water management issues, they have not been able to do so this year, due to the inability of gas companies to supply the commodity.

“The reality is that normally at this time of year when generation in the hydro plants are down, the gas plants which currently contribute about 80 per cent of the generation capacity, will ramp up to cover the shortfall in generation of hydros.

“Unfortunately, at this time of the year when the gas plants are supposed to improve generation, we have had a number of multiple events that contributed to their lack of capacity to deliver on the shortfall of generation,” he disclosed.

But the Managing Director of the Nigerian Bulk Electricity Trading Company (NBET) Plc, Dr Nnaemeka Ewelukwa, said that NBET had settled the power Gencos to the tune of approximately N3.5 trillion from the total invoices of N4 trillion issued by the electricity generators.

Through NBET, a Special Purpose Vehicle (SPV) set up by the federal government to act as intermediary between power generators and distributors, Ewelukwa noted, close to 90 per cent of the total indebtedness had been offset. This, he said should be able to keep the Gencos afloat.

“To be very clear, the indebtedness is about one third of that (N1.64 trillion). The government like I said, through NBET has paid close to 90 per cent of what is owed generation companies.

So the current debt, just to be clear, is about one third of that. That’s about N555 billion,

Power grid

Photo: GOOGLE

excluding interest,” he argued.

Managing Director of the Transmission Company of Nigeria (TCN), Mr Sule Abdulaziz, admitted that there have been some issues with the grid, attributable to the fact that “most of the generation stations that are generating light have one issue or the other.”

“Most of the issues are related to the lack of gas. Some of the units out there have no gas to put them on. Some are on general maintenance, whereas we have one or two issues of vandalism.

“A line was vandalised and we lost three units at Okpai. So all these contributed to the number of megawatts that are coming to the grid. For almost two, three years in this country, what we normally have every day is around 5,000 megawatts. Sometimes it will go down to 4,000 megawatts or 3,500 megawatts.

“But with this situation we are in now, the megawatts have run down to almost 3,000 megawatts and 3,000+ megawatts.

“Now the grid is very fragile. It cannot stand all these changes. And unfortunately on Monday, we had system disturbances, meaning that the grid went down. The same thing happened on Tuesday,” he stated.

Struggling Grid Throughput last week Nigeria’s power

grid continued to struggle, hitting another downtime , barely 24 hours after it witnessed a similar system collapse, thereby worsening the nationwide blackout. Usually, the grid suffers collapse when there’s no alignment between generation, wheeling or transmission and distribution.

In one fell swoop, generation dropped from 3,000 megawatts earlier to 1,758 megawatts, leaving just 12 Gencos in operation out of the possible 25. This happened a day after the national power grid had earlier collapsed on Monday, causing a nationwide outage after a loss of 1,100 megawatts from a 3,700MW peak generation earlier recorded.

Furthermore, an analysis of the 12 power plants operating before the grid system collapsed indicated that they only generated 1,758MW before the system went off.

Blackouts Weigh on Estate Residents As it is, the problem has already started telling on even the middle class which ordinarily could afford their basic needs without qualms. Their estate managers are demanding more and tensions may soon heighten.

In one of such places in Abuja, the managers have started adjusting for the funding of alternatives to the traditional power supply system, even as diesel prices

"In one fell swoop, generation dropped from 3,000 megawatts earlier to 1,758 megawatts, leaving just 12 Gencos in operation out of the possible 25. This happened a day after the national power grid had earlier collapsed on Monday, causing a nationwide outage after a loss of 1,100 megawatts from a 3,700MW peak generation earlier recorded"

skyrocket and petrol scarcity prevails.

An Assistant Facility Manager at Apo 2 Estate, in the capital city, Adams Abubakar, in a letter to residents of the estate, noted that according to ability to afford it, the residents should either pay for 14 hours alternative power supply or sign up for the 24 hour-supply which will come at a higher rate.

“We wish to inform you that based on calls and messages received from residents of both estates, we have more residents who have agreed to sign up for the 14-hour generator running time. Therefore, we shall run the generators from 6:00pm - 8:00am daily only when there is no power supply to the estate from AEDC. “A diesel deposit in the sum of N100,000.00 would therefore be required from residents who signed up for the 14 hour option.

“Residents who have requested for 24 hour generator running hours are required to make a diesel deposit in the sum of N150,000.00.

However, it should be noted that we would require a minimum number of 35 residents and maximum of 70 residents to sign up for the 24 hour option.

“All residents who have decided to opt out of the generator services are expected to pay a flat rate of N20,000.00 for generator powering of the common areas.

“For us to meet up with diesel purchases, it is expected that all residents must pay their deposits as and when due. The records of cost of diesel and diesel purchases will be communicated as usual,” the manager stressed.

According to him, at any point in time the diesel cost increases or reduces, a review of the cost for the generator running hours will be conducted.

A separate letter relayed by the facilities managers at Brains and Hammers, also in Abuja, appealed to residents to back up any Continued on page 19

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T H I S D AY ˾ MONDAY MARCH 28, 2022

FEATURES

President Buhari of the supply options with payment of the allocated amount.

“Please in the spirit of togetherness let us try and pay our dues to prevent any inconveniences,” the managers pleaded.

THISDAY learnt that while those staying in the estate were paying N50,000 per month for diesel for 24 hours before now, but presently they are expected to pay N150,000.

In Victoria Bay 3 Estate, Lekki, Lagos, those in charge of the estate, THISDAY gathered, have also alerted residents to an increase in the cost of electricity dues to rising diesel prices.

“Sequel to the engagements with the estate's executive committee in regards to the need for an increase in cost of power tariff, the management of Dream Court Facility Management Company Ltd would be increasing the electricity tariff to N158 (all inclusive) rate per kilowatt hour effective tomorrow Wednesday 16th March, 2022.

“The current tariff of N99 was computed in August 2021 when the price of diesel was at about N300 per litre and EKEDC tariff was at N52.81 (Vat exclusive). “ However, EKEDC has increased tariff per kilowatt effective September, 2021 from N52.81 to N54.81 (Vat exclusive) and the cost of diesel today has skyrocketed from N300 per litre in August, 2021 to N750 per litre as at today 15th," the letter stated.

TCN and the Blame Game In attempting to explain the worsening situation, a statement signed by the General Manager, Public Affairs, TCN, Mrs Ndidi Mbah, accused the Gencos of not generating enough electricity to be transmitted by the company.

TCN notified its customers that the current load shedding being experienced nationwide was as a result of very low power generation made available by the Gencos for wheeling through the transmission grid to Distribution Companies (Discos) nationwide.

The company noted that presently, the cumulative generation nationwide is low and generation companies have attributed this to several factors including poor gas supply.

Other challenges, it stressed, include low generating units of generating companies, scheduled and unscheduled maintenance, all of which have caused most power generating companies to limit their generation, and sometimes not generate at all.

A summary of the power generating profiles in the last two months, for instance, the statement said, clearly shows that 14 gas-powered generating stations were either not generating at all or had limited generation at various times within the period, further depleting the quantum of power generation available for transmission into the grid on a daily basis.

TCN stated that except cumulative power generation increases considerably for it to transmit to distribution companies nationwide, it will be left with no choice than to continue to shed load.

Killing Them Softly!

From Abuja to Lagos, Calabar, Ondo to Zamfara, the stories of pain to individual families and businesses caused by the prevailing blackout has been the same, especially with the unbearable heat waves.

Added to that, in the not so distant past, entire families have been wiped out by the wrong use of generating sets in Nigeria. Many of the families have been impacted by the inhalation of carbon emissions, leading to instant deaths.

Minister of Power, Abubakar Aliyu Even in the Federal Capital Territory (FCT) and its environs, where people expect some form of stability in electricity supply, residents have been complaining over the worsening electricity supply.

Coupled with the atmospheric temperature, the situation has become increasingly intolerable, with the rains hardly intervening to soften the harsh weather in most parts of the country.

Small shop owners in the Lugbe area of Abuja, for instance, say that beside having to contend with the unbearable heat at home without electricity, they now have to live with making less sales.

Elizabeth Ochayi, who sells ice drinks has lost her source of livelihood since the development started.. Even to fuel her small generator has been a problem since she’s hardly able to access petrol.

She said: "The power supply situation in Lugbe presently is pathetic. Before now, we could have electricity supply for up to 18, 20 hours per day, but now it is terrible to the extent that sometimes we don't have for days," Besides, residents have complained that despite the blackouts, the power distributors have continued to issue crazy bills, without justification.

A resident of Warri, Delta State, Mrs Jane Okorodudu, who lamented the depreciating level of power supply in the city, stated that apart from her cold room business that has continued to suffer, finding sleep in the night because of the heat wave has been difficult. “ For the past one month, it has been especially bad. In Jakpa road for example, it is so bad that we have not seen light in the last two weeks. My friend is a tailor in the area. Now, she has to run generators throughout the day. And customers are not ready to pay more for services rendered and problems with her customers have been brewing.

In my kind of business, which is running of a cold room, it has been horrible. We can’t even bring in new stock because there’s no light. To have frozen fish, you have to have days of consistent power supply. So, it’s affecting sales.

“Even buyers are complaining because they too in their restaurants and bars, their customers are complaining. There’s no money, no fuel, no electricity, nothing.

So, once you have your business capital complete these days, you need to thank God,” she stated.

The Rich Also Cry In a rare outburst last week, businessman and Chairman Heirs Holdings, Mr. Tony Elumelu, also bemoaned the worsening state of public infrastructure, including the state of power supply and rising inflation in Nigeria.

The founder of the Tony Elumelu Foundation, a platform which promotes entrepreneurship in Africa, maintained that Nigerians should be “vocal” about the way they are governed and hold their leaders more accountable.

The usually reticent businessman who chairs the Board of the United Bank for Africa (UBA) argued that being endowed with huge natural resources, the country should not be in its current decrepit state.

In the last couple of weeks, the state of basic supplies like electricity and petrol have worsened as Nigerians have been spending more time in the queues to buy petrol and businesses and homes suffer due to prolonged blackouts.

The nationwide fuel scarcity started after it was discovered that some cargoes of imported products had excess methanol content, which had started damaging motorists' cars before it was noticed.

An attempt to withdraw the off-spec fuel has since disrupted the country’s product supply chain, resulting in the lingering situation that has lasted over a month.

Furthermore, the already bad state of power supply in the country has in the last weeks worsened , with the authorities blaming shortage of gas and dipping water levels at the country’s hydropower stations for the development.

In addition, the prices of goods and services, have recently skyrocketed, with diesel increasing by about 300 per cent in the last number of weeks and airline operators threatening to stop their services due to the galloping aviation fuel prices.

But Elumelu, who narrated the ordeal of some of his colleagues at work on his Twitter handle, noted that apart from the economy, Nigerians are now afraid as a result of the bad security situation.

“This morning, I am listening to my colleagues at the office bemoan the very pressing issues that they face everyday in this country, and how things have been getting worse and worse - no electricity for five days, hikes in the price of diesel, frightening food inflation, etc.

“How can a country so rich in natural resources have 90 per cent of its citizens living in hardship and poverty? I have often said that access to electricity is critical for our development, alleviation of poverty and hardship. And speaking of security, our people are afraid! businesses are suffering,” he said.

The businessman who holds a controlling interest in Transnational Corporation (Transcorp), added: “Elections are comingsecurity and resources need to be everyone’s agenda-let’s be vocal for our nation’s priority.

“Evil prevails when good people are silent. We need to be vocal about 2023. Let’s focus on Nigeria. Demand and advocate for leaders that deliver. In 2023, Nigeria

"It’s unclear when Nigerians will begin to have reliable power supply, but what has become abundantly clear is that it may take a miracle for the Muhammadu Buhari administration to make any significant improvement in the sector in just about one year left of his administration"

must be on a strong trajectory for progress and development,” he concluded.

Emergency Meeting Without Emergency Results In government’s usual reactive manner, weeks after the power supply situation deteriorated, the Minister of Power, Mr Abubakar Aliyu, last week called for an emergency meeting of stakeholders, to, as it were, resolve all the outstanding issues.

At the meeting which had in attendance a delegation from the Gencos, TCN, NBET, Niger Delta Power Holding Company (NDPHC), Nigerian National Petroleum Company (NNPC) Shell and other stakeholders in the power value chain, the minister was said to have advised that stakeholders must work together to make electricity more stable.

“This meeting was summoned to address the current electricity situation in the country which we see not happy about. We must find a solution so that Nigerians will have electricity.

I want us to have the patience to talk to each other, not blaming each other,” he was quoted as saying.

Aliyu maintained that the Nigerian government will not relent in its effort to make sure that improvements in the power sector are sustained and built upon so that the electricity supply improves across Nigeria.

But not much improvements have been experienced since the meeting. The minister and his team have also received flaks for being reactive , rather than being on top of the happenings in the sector.

For instance, the excuse that water had dipped at the hydropower stations and was therefore affecting national electricity supply, people believe, does not hold water (no pun intended).

Since ordinarily, that reduction in the water levels at the plants should have been envisaged, it is believed that supply from thermal assets should have been ramped up as a buffer.

In addition, to allow the shutting down of various gas-powered generation plants for maintenance simultaneously at a time that it was projected that water-powered facilities will depreciate markedly due to the vagaries of the seasons, smacked of lack of planning.

Governors Meet Following the national outrage promoted by the blackouts, the governors of the 36 states have scheduled a meeting for Wednesday this week to discuss the energy crisis in the country.

Head, Media and Public Affairs at the Nigeria Governors’ Forum (NGF) Abdulrazaque BelloBarkindo, in a statement said that plans to finish major power projects across the states will also be part of discussions.

“As a reaction to the lingering power sector ineffectiveness of the last couple of weeks, power projects’ delivery across the states will dominate their conversation when governors meet on Wednesday.

“The governors have sought the attendance of the minister of power, , according to an invitation issued to all governors by the Director General of the Nigeria Governors’ Forum, NGF, Mr Asishana Bayo Okauru, today (Friday),” it stated.

It’s unclear when Nigerians will begin to have reliable power supply, but what has become abundantly clear is that it may take a miracle for the Muhammadu Buhari administration to make any significant improvement in the sector in just about one year left of his administration.

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MONDAY, MARCH 28, 2022 • T H I S D AY

INTERVIEW

Danlami Hayyo: More Northern Children are Embracing Education Via KaLMA Programme In this interview with Ugo Aliogo, the Executive Chairman of the Kano State Universal Basic Education Board (SUBEB) Dr. Danlami Hayyo, speaks on the impact of the Kano Literacy and Maths Accelerator (KaLMA) Programme. Excerpts: target children) was collected across Wudil and Dawakin Tofa. These assessments found that for this set of children, the number to read a simple Hausa paragraph had increased by 16 percentage points over the January-March period. The number of children who could answer a simple subtraction sum increased by 23 pupils, while the number of children who could answer ‘yes’ or ‘no’ to simple, written questions in English increased by 30 pupils. The results were similar for girls and boys across all subjects.

What’s the KaLMA Project all about?

The Kano Literacy and Maths Accelerator (KaLMA) pilot project was launched in October 2019 by the Kano State Universal Basic Education Board, Ministry of Education, and Sa’adatu Rimi College of Education in collaboration with the British Council and Teaching at the Right Level (TaRL) Africa with funding from the Foreign, Commonwealth and Development Office (FCDO). The programmes focus was to build foundational Maths, Hausa, and English literacy skills for over 37,000 Primary 4 to Primary 6 pupils in two entire local government areas, Dawakin Tofa and Wudil in Kano State, Nigeria.

The Kano Literacy and Maths Accelerator (KaLMA) programme was an educational programme organised through a collaboration by the Foreign, Commonwealth and Development Office (FCDO), Teaching at the Right Level (TaRL) Africa and the British Council. The programme was funded through UK Aid and aimed to improve literacy and numeracy among primary four to primary six pupils, by piloting the teaching at the Right Level approach in Kano.

What is the focus of KaLMA in line with improving literacy in the North, considering the large number of out-of-school children?

The motivation for KaLMA is a recognition that North-West Nigeria faces an ongoing issue of low learning outcomes and a desire to address this large-scale problem. Findings from the Nigeria Education Data Survey (2015) and the Education Sector Support Programme in Nigeria (ESSPIN) Composite Survey (2012 and 2016) indicate low attainments in literacy and numeracy, along with declining trends.

The ESSPIN Composite Survey 3 Gender and Inclusion Report, 2016 also points to gender gaps in learning outcomes, with boys significantly outperforming girls on all tests except P2 numeracy.

It recognises that acquiring foundational skills is key to a good basic education. And that If students fall behind on basic literacy and numeracy in the lower primary grades, it is difficult for them to catch up later.

The learning needs of the many children who are the first generation in their families to attend a school or who enter the school system without having gained early-learning skills requires a targeted approach to foundational literacy.

While several early grade reading interventions have started to show positive results (e.g., the Reading and Numeracy Activity (RANA) and Northern Education Initiative Plus (NEI+), a gap remains for Primart 4 to 6 children who do not receive enough foundational skills support. As a result, high numbers of children continue to be at risk of graduating from primary school without basic reading and numeracy skills. North-West Nigeria, therefore, needs a remedial intervention that focuses on foundational skills for Primary 4 to 6 children, so they can acquire the basics and have a chance to engage adequately with their schooling.

What’s the Kano State Universal Basic Education Board’s role in KaLMA? The inputs of Kano SUBEB were considered in the conceptualisation phase of KaLMA, and project work plans co-designed with SUBEB to foster local ownership throughout. Examples of coordination are engaging SUBEB in the choice of sites for project engagement and all aspects of KaLMA’s Monitoring, Evaluation, Research and Learning (MERL). The SUBEB has been a key partner that provided the enabling environment for KaLMA implementation.

How much effort is Kano SUBEB putting into improving basic education?

Kano SUBEB is currently putting much effort to improve universal basic education in the state. In practical terms, these include effective collaboration with development partners to accept and implement relevant innovations towards improving teaching and learning in the state; regular monitoring and mentoring visits to LGEAs and frequent mobilisation and sensitisation of communities through the SBMCs, traditional authorities, citizen and women’s groups to improve pupil attendance and participation in basic education, among others.

What impact do you think the KaLMA will have on the growth of education in Kano?

As a model for the development of early literacy

Hayyo and numeracy, KaLMA has significant potential for improving the quality of basic education.

Likewise, the state – for whom improving learning outcomes in basic education is a priority, while putting into consideration the fact that the efforts to develop technical skills, jobs and better livelihoods have to be grounded in the broad base of basic numeracy and literacy.

The project helps to facilitate the development of wider capabilities like problem-solving, processing information, communication skills and team-working. A key learning from the project is that evidence-based remedial education approaches, such as Teaching at the Right Level (TaRL), delivered within government systems and by state personnel, can improve pupils’ foundational learning.

KaLMA research and learning show that a scalable and sustainable TaRL delivery model, when designed collaboratively and carefully, can improve pupils’ foundational skills in northern Nigeria. In the KaLMA pilot phase implemented between October 2019 and December 2021, over 37,000 P4 to P6 pupils gained foundational literacy (Hausa and English) and Maths skills.

How do you scale the programme’s impact on improving education in Kano?

Key to the project’s success has been fostering and maintaining close relations with relevant government agencies, in particular, the Kano SUBEB and local education authorities in the two participating local government areas.

Working with the public education system at state and local levels has enabled the sharing of impactful endline results, positioning KaLMA well in relation to government-led plans for scale up to other LGAs in Kano.

An initial step to sustaining and scaling up the impact of KaLMA has been to get government (including UBEC, SUBEB and State MoE) buyin to the process. This has been done through building awareness of the problem by presenting easy-to-understand assessment data that highlights the need for basic skills and presents KaLMA evidence as a potential solution. Others are connecting SUBEB officials to both children and the power of the approach by getting them back into the classroom to practise the TaRL approach

themselves, continually evaluating how these activities work with government officials to update them as appropriate.

Towards the end of project implementation, and at the request of the Kano government, a scale-up meeting was held to discuss SUBEB plans for the extension of the KaLMA programme to other LGAs in the state. This signals both Kano’s vote of confidence in the TaRL approach and its commitment to scaling up this ‘catch up’ intervention to address the large foundational skills’ learning gap that exists. Should this go forward as intended, it will mean many more primary school pupils in Kano State benefitting from the opportunity to acquire these basic skills.

What is the Kano State Universal Basic Education Board?

The State Universal Basic Education Board (SUBEB) is a policy reform measure of the Federal Government aimed at rectifying distortions in basic education. The State Universal Basic Education Board (SUBEB) is an offshoot of UBEC. It is established to address the inequality in educational opportunity at the basic level and improve the quality of its provision. The policy stipulates that education shall be free and compulsory.

What necessitated the creation of KaLMA? Before the outbreak of COVID-19 in March 2020, Kano State was taking measures to address the challenge of equipping children with literacy and numeracy skills. The results from the baseline of this programme, conducted in January 2020, confirmed the important need for foundational skills-focused programmes in upper primary (P4-P6): only seven per cent of children could read a basic paragraph in their home language Hausa; three per cent were able to respond ‘yes’ or ‘no’ to simple, written questions in English, and just four per cent were able to solve a simple two by two subtraction problem.

In late March 2020, the day before schools closed, a rapid assessment was conducted to assess whether learning gains had been made during the initial KaLMA implementation period. Teachers assessed children, and the data of 6,835 children (a sample of the total

What did KaLMA try to achieve, and why was it important?

The programme is rooted in teaching at the right level, evidence and approach. This approach involves assessing children on foundational skills and grouping them by learning level rather than age or grade level for two hours per day when they focus on foundational skills in reading and arithmetic. The programme also piloted two innovations: student teacher facilitation and a dual language approach to English learning.

The dual-language approach to foundational skills in English deploys the children’s home language to assist their learning of an additional one. In KaLMA, Hausa is used as a bridge to learning the English language. Examples include using the L1 (Hausa) for initial engagement in a task that later transitions to English (L2) or using bilingual flashcards and storybooks. It plays out in the classroom as follows: picture reading – children first say in Hausa what they see in a picture, for example, a market scene, through a vocabulary-focused activity using the words for basic fruits and vegetables, which activity is then extended into English. Another activity is a word-building game where children are given a set of letter cards to form words in Hausa. They then play the game in English.

The dual-language approach is consolidated by listening and doing – children are given an oral instruction to respond to by performing a related action, e.g., ‘stand up. The activity is first done in Hausa, then in English.

What was the biggest obstacle faced implementing KaLMA, and how was it overcome?

Due to COVID-19 related school closures, the programme was put on hold from April to December 2020 and resumed in schools in January 2021. During school closures, the KaLMA team pivoted the programme to support the Kano government’s endeavours to help children continue learning from home. A package of remote support including radio broadcasts, text messages, automated voice messages, and a toll-free line was developed to provide Home-Based Learning assistance to families in Wudil and Dawakin Tofa. This also included foundational reading and mathematics worksheets, activity text messages, and ongoing radio broadcasts. During school closures, educators were also supported with continuing professional development (CPD) delivered through WhatsApp, text messages and AVM in Maths and English. The STEP materials, developed by the British Council, were deployed for the English CPD for their contextual relevance.

What was the programme able to accomplish?

Foundational Maths, Hausa and English Literacy skills were provided for 37,000 Primary 4 to 6 pupils in Dawakin Tofa and Wudil LGAs in Kano.

KaLMA also supported the state government in its education-in-emergency response. This included repurposing KaLMA materials and existing British Council, TaRL Africa, and other open educational resource materials to suit the delivery of remote learning to the home environment. KaLMA also provided training and capacity building support for 1,196 teachers, 255 head teachers, 181 schools within two LGAs, 96 student teachers, 50 school support officers and 33 master trainers.

Now that the programme is over, what comes next?

The KaLMA project will live on in a continuation project named ‘Partnership for Learning for all in Nigeria (PLANE)’.

T H I S D AY ˾ MONDAY, MARCH 28, 2022

21

BUSINESSWORLD R A T E S MONEY MARKET

A S

REPO

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

08056356325

M A R C H

S & P INDEX

2 5 , 2 0 2 2

S & P INDEX

EXCHANGE RATE

OBB

9.00%

CALL

4%

INDEX LEVEL

564.02%

1/4 TO DATE

5.82%

N413.03/ 1 US DOLLAR*

OVERNIGHT

10.75%

1-MONTH

6%

1-DAY

–0.17%

YEAR TO DATE

– 15.85%

*AS AT LAST FRIDAY

3-MONTH

10%

MONTH-TO-DATE

0.19%

Dangote Cement, Seplat, NB, 10 Others OPEX Up 17% on Inflationary Pressure, Unstable FX

Kayode Tokede On the back of hike in inflation rate, unstable foreign exchange market, among others factors, Dangote Cement, Seplat Energy Plc, Nigerian Breweries and 10 others most valued companies on the Nigerian Exchange Limited (NGX) reported 17 per cent increase in Operating Expenses (OPEX), analysis of their 2021 results has revealed.

The 13 companies reported a whooping N2.05 trillion OPEX in 2021 as against N1.76 trillion reported in 2020 financial year. Analysis of the companies performance revealed that Nigerian Breweries Plc, followed

by MTN Nigeria Plc and Lafarge

Africa recorded the highest OPEX in 2021 A breakdown revealed Nigerian Breweries reported total OPEX of N123.55billion in 2021, an increase of 37.4 per cent from N89.9billion reported in 2020. MTN Nigeria’s OPEX grew by 21.9 per cent to N505.3billion in 2021 from N414.6billion in 2020.

Lafarge Africa Plc reported N78.13billion OPEX in 2021, an increase of 21.82per cent from N64.14billion reported in 2020, while Dangote Cement’s grew its OPEX Dangote Cement Plc by 19.6 per cent in 2021 to N256billion from N214.06billion reported in 2020.

The National Bureau of Statistics

(NBS) recently announced that Nigeria’s inflation rate closed 2021 at 15.63 per cent from 16.47 per cent reported in January 2021.

The bureau had disclosed that the country’s inflation rate hits all-time high in March 2021 to 18.17 per cent, while all items (12 Months Avg. Change) closed 2021 at 16.73 per cent.

Besides inflationary pressure, the marginal increase in Naira/US dollar exchange rate in the official market also resulted in the hike in general prices of goods and services in the year under review.

According to the Central bank of Nigeria (CBN), Naira at the Investors & Exporters Foreign Exchange (I

& EFX) was trading at an average price of N413.49/Dollar from N380/ Dollar when it opened for trading in 2021.

Also, the NBS disclosed that the average price paid by consumers for Premium Motor Spirit (petrol) increased by 0.04 per cent on year-on-year basis to N165.77 in December 2021 when compared to the valued in December 2020, which is N165.70.

Although the retail price of Automotive Gas Oil (Diesel) paid by consumers presently sells for N350 a litre and more in other states, as commodity increased by 28.97 per cent on a year-on-year basis from a lower cost of N224.37 per litre

recorded in November of last year to a higher cost of N289.37 per litre in December 2021.

Meanwhile, analysts have expressed that cost of buying diesels and trucks materials in the period under review have increased significantly, a major factors also contributing to cost of goods and services distribution.

In a chat with THISDAY, analyst at PAC Holdings, Mr. Wole Adeyeye stated that the operating expenses of most companies increased significantly in 2021, driven mainly by higher input costs.

According to him: “The upsurge was witnessed in inputs sourced locally (especially raw materials

& consumables, fuel and power consumed, distribution expenses, among others). In addition, most listed companies complained about the depreciation of Naira as it raised cost of imported raw materials during the period.

“The high cost of imported raw materials and inputs sourced locally resulted in lower profitability of some listed companies, especially those who found it difficult to pass the cost to the final consumers.”

Commenting on the growth in OPEX, the Chief Executive officer, MTN Nigeria, Karl Toriola said: “On the costs side, we made good Continued on page 24

NAICOM Sustains Drive to Meet Growth Target as Insurers Grows Assets by N1.17tn Ebere Nwoji The National Insurance Commission (NAICOM), is relentless in its efforts to achieve its target for insurance operators in the country to grow annual insurance premium to N6 trillion by the year 2030 from the present level of N630 billion, THISDAY checks has revealed.

Following NAICOM’s relent-

less effort, the sector’s assets has witnessed massive growth reaching N2.14 trillion within the past six years.

Latest data released by the umbrella body of insurance underwriters, the Nigeria Insurers Association (NIA) showed that in the past five years the insurance sector has grown it’s assets by N1.17 trillion.

While addressing journalists at a media forum held in Uyo Akwa Ibom State recently, the commissioner for insurance, Mr Sunday Olorundare Thomas said his N6 trillion projection for the sector was hinged on notable developmental initiatives already embarked upon by the regulator to stimulate the sector.

The NIA data revealed that the

sector had successfully grown it’s total assets to N2.14 trillion in 2021.

According to the umbrella body of insurance underwriters, underwriters’ total assets between 2016 to 2021 rose from N974.09 billion in 2016 to N2.14 trillion in 2021, showing an increase of N1.17 trillion.

According to NIA, insurance companies recorded tremendous

growth on their assets within the period siting Leadway Assurance Limited, which increased its total assets by N357.13 billion between 2016 and 2020, moving from N166.06 billion to N523.19 billion.

Also, FBNInsurance Limited also increased its total assets by N129.63 billion between 2016 and 2020, from N29.51 billion to N159.14 billion; AIICO Insurance Plc increased its

by N120.52 billion from N75.82 billion to N196.33 billion; Custodian Life Assurance Limited, recorded N73.67 billion assets increase from N24.67 billion to N98.34 billion and Cornerstone Insurance Plc, achieved N18.11 billion growth from N18.37 billion to N36.48 billion.

On its part, NEM Insurance Continued on page 23

M A R K E T D ATA A S AT F R I D AY, M A R C H 2 5 , 2 0 2 2 BILLS

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

Price

Yield

108.73 4.45 111.47 7.80 111.39 9.10 107.26 10.15 123.05 10.26

Change Updated Time (%) 25, -0.02 March 2022 25, -0.01 March 2022 March 25, 0.00 2022 March 25, 0.00 2022 March 25, 0.00 2022

OTC F X F U T U R E S

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3.07

3.08

0.00

March 25, 2022

3.13

3.14

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March 25, 2022

1.88

1.89

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March 25, 2022

2.88

2.91

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March 25, 2022

NTB 11Aug-22

3.18

3.22

-0.49

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Discount Yield

Change Updated Time (%)

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

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0.00

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16.12

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-0.01

CONTRACT TENOR Contract (MONTH) NGUS MAR 30 1 2022 NGUS APR 27 2 2022 NGUS MAY 25 3 2022 NGUS JUN 29 4 2022 NGUS JUL 27 5 2022

Current Rate ($/₦)

Updated Time

427.24

March 25, 2022

428.93

March 25, 2022

430.63

March 25, 2022

432.32

March 25, 2022

434.02

March 25, 2022

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MONDAY, MARCH 28, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

L-R:National Secretary, Foursquare Gospel Church, Rev Abayomi Oyinloye; Managing Director, Leadfort Insurance Brokers,Mr Muhammed Yakubu; President,Lifeforce Solutions, ,Mrs Taiwo Tella Ndukwe; Honouree, Prof Tajudeen Yusuf; Founder, Heat Finance and Investments, Chief. Henry Ationu; and Managing Director,Bluewaters Insurance Brokers, Mr. Sunday PHOTO: ETOP UKUTT Malomo, at the University of Lagos Actuarial Science and Insurance Class of 1989 alumni luncheon in honour of Prof. Tajudeen Yusuf in Lagos recently

NEPZA Boss: Nigeria to Generate $461bn from Lagos Free Zone in 45 Years Gilbert Ekugbe The Managing Director, Nigeria Export Processing Zone Authority (NEPZA), Prof. Adesoji Adesugba, has projected that the Lagos Free Zone is expected to generate over $461 billion in the next 45 years for the country.

Adesugba, who stated this on the sidelines of the inspection of the Lekki deep seaport by the President Muhammadu Buhari in Lagos, also stated that investment expected to be realised from the free zone would hit $3.5 billion both from the Lekki port and the free zones.

According to him, the Lagos free zones is one of the biggest free zones in the world at the moment, stressing that the impact of the lekki port would avail Nigeria the opportunity to berth the biggest vessels in the world.

In his words: “This is one of the biggest free zones that we have at the moment. This is the first of its kind in this part of the world.

The impact of this free port is that with the kind of size this deep sea port we have here, it can accept the biggest vessels in the world.

12,000 TEUs is the biggest and it is four times the size that can berth in Apapa and the multiplier effect is phenomenon. We expect from the investment that we have in this free zone upwards to $3.5b billion that is the port and the free zones. The

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

projection is that in 45 years, we will be doing $461 billion. We are going to have thousands of Nigerians working here. The effect on the Gross Domestic Product (GDP) is going to be awesome and it will open the doors for those who want to have their factories in the free zones.”

He added: “Nigerian goods will be competitive and we will be able to employ more people in Nigeria instead of them looking

for greener pastures abroad. With the free passage of goods in Africa due to AfCFTA, we need to be very competitive. Free zones are now being constructed outside the shores of Nigeria in Benin Republic, Togo and Ghana. This zone will take a lot of steam of those free zones to make us our goods more competitive.”

Also speaking during the visit, the Chief Executive Officer, Lekki Port LFTZ Enterprise Limited,

Mr. Du Ruogang, expressed the profound appreciation of the company to the President for the visit and the immense support the project has received since its inception, stating that the team remains committed to delivering the project as scheduled.

Ruogang further assured that the company is working round the clock to complete the construction as scheduled by September to

ensure that commercial operations commence by the fourth quarter of 2022.

“We are indeed very pleased and grateful to His Excellency, the President of the Federal Republic of Nigeria, President Muhammadu Buhari on the visit to Lekki Port today; this day will remain a memorable one in the history of this Port, we sincerely thank the President and all the dignitaries that

accompanied here today even as we look forward to having them soon for the official commissioning,” he said.

On his part, the Managing Director of Lekki Freeport Terminal, the terminal oprator for the Port, Mr Denrick Moos, assured that the port operation would be a worldclass and efficient one leveraging technology in the automation of its processes.

FG Seeks Increased Private Sector Intervention in Nigeria’s Health Care Sector Dangote, Aig-Imoukhuede, Wigwe adopts PHCs Gilbert Ekugbe The federal government has tasked the Organised Private Sector (OPS) on the need to increase their investment drive in the nation’s health care sector.

The Vice President, Federal Republic of Nigeria, Prof. Yemi Osinbajo, at a two day summit organised by the Ministry of Health in conjunction with the National Primary Healthcare Development Agency (NPHCDA) tagged, “Reimagining primary healthcare in Nigeria,” stated the need for increased private sector investment as a key driver to addressing challenges to the efficient and effective running of the Nigerian health system.

He lauded the efforts of the NPHCDA and the Private Sector Health Alliance of Nigeria through its Adopt-a-Health Facility Programme (ADHFP) initiative, and other private sector leaders for undertaking the

enormous task of building a truly equitable and accessible healthcare system.

The Minister of Finance, Mrs. Zainab Ahmed, highlighted the need for collaborative effort between public stakeholders & private sector leaders towards a sustainable health care system in Nigeria.

She also focused on the need for sustainable healthcare funding through sin taxes and mandatory health insurance. The Minister of Health, Dr. Osagie Ehanire and the Executive Director and Chief Executive Officer, NPHCDA, Dr. Faisal Shuaibu reiterated that PHC remains the foundation and first line of defence for an effective health system.

The “Hour of Commitment”, coordinated by the Minister of Finance, was the high point of the summit, with landmark commitments made by private sector titans such as Alhaji Aliko Dangote represented by

Ms. Zouera Youssoufou, Managing Director, Aliko Dangote Foundation, who made a personal commitment to adopt one PHC in all forty-four LGAs of Kano state.

At the two-day summit, the role of the private sector was highlighted in delivering quality and accessible healthcare in Nigeria.

The Founder & Chairman of The Aig-Imoukhuede Foundation, Mr Aigboje Aig-Imoukhuede, committed to adopt one PHC in in each of the nineteen LGAs in Edo State with an additional four LGAs to be decided by the Honourable Minister of Finance who chaired the Commitment Session, On his part, the Chief Executive Officer, Access Group, Mr. Herbert Wigwe, through the Herbert Wigwe Foundation, committed to adopting one PHC in all 23 LGAs in Rivers State.

The former Minister of Health, and Global Director for Health,

Nutrition and Population at the World Bank Group, co-founder of PSHAN, Prof. Muhammad Ali Pate, also stated during his panel session that he would be adopting one PHC in Misau LGA of Bauchi State.

The Chief Executive Officer of the Private Sector Health Alliance of Nigeria, Dr. Tinuola Akinbolagbe expressed gratitude to the directors of PSHAN and other business leaders for their unprecedented generosity and solidarity. “With a total of 91 PHCs adopted out of our target of 774, we have achieved approximately 15% of our target in one day which marks an incredible stride.” She encouraged members of the organized business sector to follow suit so that PSHAN could fulfil its commitment to supporting the NPHCDA and making primary healthcare accessible to all Nigerians.

The ADHFP is a multi-impact

initiative that aims to provide a world class PHC in each of the 774 LGAs in Nigeria. Under the strategic leadership of the founding directors, PSHAN is committed to supporting the provision of quality accessible primary healthcare to all Nigerians through the Adopta-Health Facility Programme (ADHFP).

In attendance were the Vice President of the Federal Republic of Nigeria, Prof Yemi Osibajo, the Ministers of Finance and Health, Chairman of the Nigerian Governors Forum, Governors, Members of the National Assembly, International developmental partners, The US Ambassador to Nigeria and other members of the diplomatic corps, the Sultan of Sokoto and other Royal Fathers, Alhaji Aliko Dangote GCON, Mr. Aigboje Aig-Imoukhuede CON, Members of the Judiciary, MDAs and other relevant stakeholders in the health sector.

IoD, University of Lagos Partner to Build Manpower for Economic Devt Gilbert Ekugbe The Institute of Directors (IoD) has partnered the University of Lagos to build skills and manpower required to achieve rapid socioeconomic development for Nigeria.

The president, IoD, Mrs. Ije Jidenma, at a high delegation visit from the University of Lagos, explained that would be most delighted to collaborate with the University of Lagos to help effectively build manpower with the right mindset and practical

orientation that will accelerate the process of socioeconomic development in Nigeria.

She said the Institute has made significant and highly impressive strides working closely with the government, corporate organisations, bilateral chambers and diplomatic missions to raise the standards of corporate governance and leadership in both the private and public sectors.

“We are determined to make significant difference in our country. We equip our directors

through training, capacity building and ethical orientation that will contribute greatly to business and enterprise development,” she said According to her, over the years, the Institute has taken its place as the perfect professional body in Nigeria with a mandate to cater for and represent directors in their individual capacities across the various sectors of the economy.

“Our collaborative drive with the University of Lagos is borne out of the need to tap into the diversity of viewpoints often incubated in

the University ecosystem, because this is where intellectualism resides.

This is where idea thrives and so many things that can lead us into the transformational and innovative solutions,” she said.

Earlier, the Vice Chancellor, University of Lagos, Mr. Oluwatoyin Ogundipe, said the visit was to seek collaboration with IoD especially in the area of training.

“We have our University of Lagos Business School which is doing well. We want to have that collaboration to have your

own customized programme that we can run along with you. We also thought that there are some directors in the affairs of running the school who would need your expertise in training and manpower development, so there is also a need for us to register with IoD so that we will able to have that handshake from town to gown.

We look forward to having a collaboration with you that will even lead to having a Memorandum of Understanding (MoU) to strengthen the relationship, “he said.

T H I S D AY ˾ MONDAY, MARCH 28, 2022

23

BUSINESSWORLD

STATUS REPORT

Access Bank: Diversification Drives Profitability, Dividend

A

ccess Bank Plc’s diversified business strategy in 17 markets has yielded significant growth in non-core and core businesses, leading to 40 per cent and 51per cent increase in profit before tax and profit after tax in 2021, respectively.

The Group, guided by a robust risk management framework, grew its business cautiously and recorded sound prudential ratios despite challenging market conditions.

With the growth in profits, the lender hit an all-time high total dividend payout to shareholders to pose as one of the most profitable banks in the continent.

On the Earning Per Share that gained 52.2 per cent to N4.58 in 2021 from N3.05 reported in 2020, the board proposed a final dividend of N0.70 per share as against N0.55 per share in 2020 and equates to a dividend yield of 7.14 per cent based on the last closing price of N9.95 per share as at March 25th, 2022.

The board had paid shareholders interim dividend of N0.30 kobo per ordinary share of 50 kobo each (H1 2020: 25Kobo) on the 35,545,225,622 issued ordinary shares of 50k each, bringing total dividend payout to shareholders in financial year ended December 31, 2021 to N1.00 as against N0.80 paid to shareholders in 2020.

The lender currently has a presence in over 17 markets, providing banking services to over 45 million customer base, and making it Africa’s largest lender by customer base.

Access Bank has subsidiaries across Sub-Saharan Africa and Europe, providing financial and banking services. The Bank’s subsidiaries include Access Bank (Gambia) Limited, Access Bank (Sierra Leone) Limited, Access Bank (Zambia) Limited, Access Bank (UK) Limited, Access Bank (Ghana) Limited, Access Bank (D.R. Congo), Access Bank (Rwanda) Limited, Access Bank (Guinea) Limited, Access Bank (Kenya) Limited and Access Bank (Mozambique) Limited.

The Bank also has representative offices in China, Lebanon, India and United Arab Emirate (UAE).

Access Bank remains well-positioned to maximize opportunities, given its significant traction in Nigeria, across Africa and the world at large.

In 2021, the Bank relied heavily on its robust technology (digital platforms) to deliver uninterrupted services to customers in addition it continued its African expansion project, though cautiously.

As of 2021, Access Bank has about 2,921 Automated Teller Machines (ATMs), about 74,612 Point of Sales (PoS) terminals, and 735 branches.

The figure keeps increasing by the day and shows the sheer scale of digital footprint following more acquisition in Africa.

This is in addition to the Bank’s existing commitment to sustainable business practices and demonstration of its ability to re-engineer the face of Africa by engaging

in transactions, processes and partnerships that enable future generations to meet their needs.

GROSS EARNINGS, PROFITS NEW HIGH

The 2021 financial year results showed substantial growth in Gross Earnings that gained 27.1 per cent to N971.89 billion from N764.7 billion reported in 2020.

The growth in gross earnings was driven by growth in interest income and non-interest income as the bank was more aggressive in creating risk assets, especially through its digital and retail-based products, which bolstered fees and commission income.

The bank recorded an interest income growth of 23per cent to N601.70 billion in 2021 from N489.22billion in 2020, buoyed by the uptick in income from investment securities that gained 31.7 to N203.68 billion in 2021, while income from loans and advances to customers grew by 16.4 to N370.82billion from N309.54billion reported in 2020.

The growth across these income lines offset the sole decline in cash and balances with banks that dropped by 20.9 per cent to N9.46 billion in 2021 from N11.96 billion reported in 2020.

Interest expense also increased by 32.8per cent to N300.24 billion in 2021 from N226.3billion in reported in 2020, with a significant spike in the cost of deposit from customers that grew by 41.1 as the bank took on more expensive term deposits to meet its obligations.

Consequently, the bank’s Current Account Savings Account (CASA) mix deteriorated to 58.4per cent in 2021 from 64.6per cent in 2020.

So, the group reported 15 per cent increase in net interest income to N301.46billion in 2021 from N262.95billion reported in 2020.

Similar to other Tier-1 peers, Access bank’s non-interest income grew significantly by 34 to N370.09 billion in 2021 from N275.5billion in 2020, supported by 48 per cent increase in other operating income to N65.9billion, including the bargain Purchase from acquisition in the period of N2.5billion and recoveries from written off loans, a 36 per cent increase in fee and commission income to N159.2billion in 2021 on the back of increased adoption of channels and velocity of transactions. In addition to factors that contributed to the Group’s non-interest income was 27 per cent increase in net trading income to N145billion in 2021 on the back of efficient treasury activities.

This growth in non-funded income further supported the funded income growth, leading to a 21.1 per cent expansion in operating income.

In the year under review, Access Bank’s

Operating expenses (OPEX) increased by 14per cent to N371.14 billion in 2021 from N326.5billion reported in 2020, driven by the high inflationary environment, exchange rate movement and the enlarged franchise following the recent acquisitions across Africa.

AFRICAN EXPANSION DRIVES OPEX

OPEX from the new subsidiary in Guinea and recent acquisition in Botswana, Mozambique, South Africa and Zambia was N25.3billion. Taking this into consideration, OPEX grew by six per cent to N345.8billion.

Other major contributory lines to spikes in OPEX include – personnel expenses that gained 32.2 per cent to N96.71 billion; deposit insurance premium increased by 32per cent to N20.44 billion; AMCON levy rose by 17.1 per cent to N41.51 billion and non-cash depreciation and amortization charges rose by 12.3 per cent to N42.15 billion in 2020.

Given the more significant year-on-year expansion in operating income than expenses, the bank’s cost-to-income ratio improved to 58.8 per cent from 63.4 per cent in 2020. Cost of risk also grew by 25 basis points to two per cent on the back of the increase in impairments on loan.

From the profit & loss figures, the bank recorded a profit before tax growth of 40.3per cent to N176.70 billion in 2021 from N125.9 billion reported in 2020.

However, profit for the year notched up higher by 51.1per cent to N160.22 billion in 2021 from N106.01 billion in 2020, given the 17.2 per cent drop in lower income tax expense to N16.48 billion from N19.91billion paid to tax agencies in 2020.

SIGNIFICANT ASSETS GROWTH

On the backdrop of expansion in 17 markets, the Group remained strong and resilient with total assets of N11.7trillion in 2021, a growth of 35per cent from N8.7 trillion 2020.

Customer Deposits totaled N7trillion in 2021 from N5.6trillion reported in 2020, reflecting the impact of the group’s continuous and deliberate deposit mobilization. CASA account deposits stood at N4.1trillion in 2021 from N3.6trillion in 2020, accounting for 58 per cent of customers deposits.

According to the bank: “This is largely as a result of leveraging innovative digital technology and financial inclusion to mobilize sustainable low-cost deposits.”

“UK and Ghana jointly accounted for 66 per cent (Dec: 2020: 85 per cent) of total subsidiaries deposits. The decline in contribution was on the back of deposit growth from other subsidiaries.”

Net Loans and Advances totaled N4.4trillion in

2021 from N3.6trillion, reflecting the Group approach to mitigate concentration risk.

FCY exposure further declined by 616 basis points to 19.7 per cent from 25.9 per cent of the total loan portfolio in the period, due to significant LCY loan portfolio acquired during the business combination done within the year and deliberate efforts at mitigating currency risk.

Loan to funding ratio declined to 50.8 per cent in 2021 from 54.2 per cent on the back of the increase in funding base.

As assets quality remained stable despite macro pressures, the group Non-Performing loans (NPL) ratio stood at four per cent in 2021 4.3 per cent.

Basel 2 Capital Adequacy Ratio (CAR) stood at 24.5 per cent in 2021 from 19.6 per cent in 2020, remaining well above the regulatory minimum of 15 per cent.

Liquidity ratio in the period stood at 51 per cent from 46 per cent, and it remained well in excess of the regulatory minimum.

DISCIPLINED IMPLEMENTATION OF STRATEGY

The Group Managing Director, Access Bank, Mr. Herbert Wigwe in a statement said: “2022 is pivotal for our franchise, as we conclude our 2018-2022 corporate strategic plan.

“In the year, we will focus on a disciplined implementation of our strategy to drive efficiency and operational excellence across all segments, expand revenue and increase profitability, with enhanced focus on risk management practices and a disciplined cost containment structure.

“As we go into our next 5-year strategy cycle, we are realigning the franchise for growth, by transitioning into a Holding Company (HoldCo).

“This will enable us to unlock and capture available non-banking opportunities in the market, that would lead to the diversification of our earnings, drive efficiency, and grow scale while maintaining our moderate risk management approach.

“Having met regulatory requirements and obtained the Court Sanction, we expect the HoldCo to become operational in the first half (H1) of 2022. This will lead to the delisting of Access Bank Plc’s shares on the Nigerian Exchange (NGX) and listing of Access HoldCo shares.”

However, analysts at Cordros research stated that the bank’s increasingly strong financial performance and the corresponding increase in payout to shareholders lend credence to our positive outlook on the bank.

“We envisage positive price reactions in the short to medium term. The bank is also one of the fastest-growing banks nationwide, with an increasing footprint across Africa. This, coupled with the strong execution of its digitization and retail-led strategy in the Nigerian market informs our view of a positive growth trajectory.”

NAICOM SUSTAINS DRIVE TO MEET GROWTH TARGET AS INSURERS GROWS ASSETS BY N1.17TN recorded an increase of N16.64 billion from N14.53 billion to N31.17 billion; Mutual Benefits Life Assurance, N16.46 billion from N36.18 billion to N52.64 billion; Mutual Benefits Assurance Plc, recorded N13.74 billion from N16.58 billion to N30.32 billion; Linkage Assurance Plc, recorded N13.55 billion growth from N20.33 billion to N33.88 billion while African Alliance Insurance Plc, grew assets by N12.66 billion from N41.35 billion to N54.02 billion.

Others are: FBN General Insurance Limited, which grew

it’s assets by N9.9 billion from N6.06 billion –toN15.96 billion, NSIA Insurance Limited, grew by N8.97 billion from N13.15 billion N22.12 billion; Custodian & Allied Insurance Limited, grew by N8.14 billion from N29.68 billion to N37.82 billion, Anchor Insurance Company Limited, grew by N7.74 billion from N5.78 billion to N13.55 billion and Coronation Insurance Limited, by N7.56 billion from N20.59 billion toN28.15 billion.

Unitrust Insurance Company Limited grew by N7.18 billion from N11.54 billion to N18.72 billion and

sovereign Trust Insurance Plc, by N5.32 billion from 9.511 billion to N14.83 billion.

NAICOM said unaudited Gross Premium Income (GPI) for the insurance industry stood at N630.36 billion in 2021, as against audited N514 billion recorded in 2020.

The Head, Corporate Communications and Market Development, NAICOM, Rasaaq Salami, informed that the industry also paid net claims of N238.05 billion in 2021 with sector’s total assets hitting N2.139 trillion.

Salami, said NAICOM would

deepen the use of insurance as a strategic tool for stimulating growth in other facets of the economy and ultimately generate revenue for the government.

Given this performance Thomas has called on Nigerians to report underwriting companies that fail to pay genuine claims to policyholders as and when due.

Thomas, said there was an urgent need to rewrite Nigerians’ poor perception about insurance to increase uptake of insurance products.

He disclosed that the Commis-

sion was planning to start ranking insurance firms based on the number of claims filed and settled yearly.

The Commissioner lamented that though the industry was moving ahead in claims payments, the activities of some operators remained a task.

He said, “Claims payment has always been one aspect the industry has been battling with. We all agree that we cannot claim ignorance of the fact that the industry is paying huge claims even though activities of a few amongst the operators are jeopardising the efforts of the

majority. We had before now, agreed to start ranking companies on the number of claims received and settled every year and we intend to make the ranking a public knowledge for the insurance consumers. It is always an issue that puts the entire industry on the edge.”

He explained that the commission has been implementing various market developmental initiatives to lift the insurance sector to a global standard through risk-based supervision framework, digital capabilities and others.

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BUSINESSWORLD

NEWS

Amaechi: Buhari Delighted With Pace of Work at Lekki Port Eromosele Abiodun The Minister of Transportation, Rotimi Amaechi has disclosed that President Muhammadu Buhari is delighted at the pace of the construction work on the Lekki Deep Sea Port.

Amaechi stated this while responding to questions from the media shortly after the visit of the President to the port located at the Lagos Free Zone, Ibeju Lekki in Lagos.

The President was received at the port site by top management of the promoters of the project - Lekki Port LFZ Enterprises Limited (LPLEL) led by the Chairman of the board, Mr. Biodun Dabiri; Director, Alhaji

Olabode Oyedele; the Managing Director, Du Ruogang; Managing Director - Africa, Tolaram, Mr. Haresh Aswani and the former Chairman of the company and former Governor of the Central Bank of Nigeria (CBN) Chief Joseph Sanusi among others.

During the tour, President Muhammadu Buhari commended the efforts of the Minister towards making the Lekki Deep Sea Port a reality and directed him to consult and bring up a memorandum to the Federal Executive Council (FEC) to link the facility with the railway network.

Speaking on the purpose of the President’s visit to the project, the

Minister stated that the visit affirms the commitment and support of President Muhammadu Buhari’s administration to ensure timely delivery of the port.

Amaechi explained further that he is confident that the commencement of operation of Lekki Port would strengthen Nigeria’s maritime sector to meet the ever-growing demands

for goods transported by sea and will also position the maritime hub for the West African sub-region and even up to the Central African Republic.

“I can confirm that President Muhammadu Buhari is delighted with the progress of work done on the project, I am also happy, and I am sure everyone is happy that the project is going on as scheduled, and

we are looking forward to the official commissioning and commencement of operations,” said Amaechi.

Also speaking during the visit, the Chief Executive Officer, Lekki Port LFTZ Enterprise Limited, Mr. Du Ruogang, expressed the profound appreciation of the company to the President for the visit and the immense support the project has

received since its inception, stating that the team remains committed to delivering the project as scheduled.

Ruogang further assured that the company is working round the clock to complete the construction as scheduled by September to ensure that commercial operations commence by the fourth quarter of 2022.

MTN Boss Backs Nigeria to Clinch World Cup Qualification Chief Executive Officer, MTN Nigeria, Karl Olutokun Toriola has charged the Nigerian Super Eagles to make the country proud.

He urged the team to clinch a ticket to the FIFA 2022 World Cup after the Super Eagles played a goalless draw in the first leg of the qualifier against Ghana at the Baba Yara Sports Stadium in Kumasi, Ghana. The Ghanaians were the more dangerous side, dominating possession for large parts of the game, but the Eagles’ defence stood resolute with fine performances from Francis Uzoho and Leon Balogun.

Ahead of the return leg on March 29, 2022, the MTN CEO urged the team to make the nation proud. “The tie is finely poised, and we have all to play for in the return leg. We are relentlessly backing our Super Eagles to clinch the qualification ticket. The entire nation is behind them and we are also rooting for them,” Toriola said.

Recall that in September 2021, MTN Nigeria, signed a three-year agreement with the NFF valued at 1.5billion Naira to become the Official Communications Partner of the Super Eagles and other national teams.

Air Peace Deepens Safety Standards with Fourth IOSA Renewal Chinedu Eze Nigeria’s major carrier, Air Peace, has received its fourth International Air Transport Association Operational Safety Audit (IOSA) certification, which signifies that the airline was successful in the globally recognised and rigorous safety audit.

Spokesman of Air Peace, Stanley Olisa disclosed this in a statement at the weekend.

He stated that the new certification has, once again, exemplified the airline’s commitment to global best practices in aviation safety.

“Air Peace is unwaveringly committed to observing the highest standards of safety in its operations and the consecutive success in the IOSA audits is a testament to this commitment. For us, safety comes first for both our passengers and staff. We cannot compromise on this”, Olisa stressed.

He expressed the airline’s resolve

to continue to comply with best safety standards and promised more seamless connectivity, strategic route expansion to meet the flying public’s travel needs, and a consistent fleet modernisation.

Olisa commended IATA for continuously ensuring that stakeholders in the aviation sector worldwide, comply with established safety standards, while noting that safety is at the heart of the industry.

Air Peace had set a record when it obtained its first IOSA barely two years into its operations and was, subsequently, inducted as a member of the International Air Transport Association (IATA).

The airline leads Nigeria’s aviation industry with 20 domestic routes, seven regional routes and two international destinations while it operates an increasing modern fleet of 35 aircraft, including five brand new E195-E2s and 5 Airbus 320s.

UNVEILING BRAND AMBASSADOR…

L-R: Co-founder and Chief Information Officer at Quidax, Morris Ebieroma; Quidax Brand Ambassador and Founder/Chief Executive Officer of Mavin Records, Michael Collins aka Don Jazzy; Co-founder/Chief Executive Officer at Quidax, Buchi Okoro and Co-founder/Chief Technology Officer at Quidax, Uzo Awili, at the unveiling of Quidax Brand Ambassador in Lagos… recently

MainOneTakes Fibre Infrastructure to Lagos Free Zone to Support Businesses Emma Okonji MainOne, West Africa’s connectivity and data centre solutions provider, has expanded its fiber optic network infrastructure to the Lagos Free Zone in Lekki.

MainOne, in partnership with the Lagos Free Zone, launched its fibre optic network infrastructure at the zone recently, in order to support businesses with fast speed broadband internet connectivity.

Being the first private free zone in Nigeria, the Lagos Free Zone aims to be the preferred investment hub in Nigeria with best-in-class infrastructure, facilities and services.

The launch of MainOne’s fibre network infrastructure at the Lagos

Free Zone, came on the heels of the recent visit of President Muhammadu Buhari to launch the largest fertilizer plant in Africa at the Lekki Free Zone, where businesses are currently shifting to for expansion.

MainOne’s fibre network infrastructure, which has already been deployed within the axis, is expected to support businesses that are currently springing up in the zone, with direct, reliable, and secure network connectivity with access to data centre services, allowing for increased productivity and network speeds of world-class standards.

Speaking at the launch, the Chief Executive Officer of MainOne, Funke Opeke, said the hub powering the entire fibre network infra-

structure at the Lagos Free Zone, has the capacity of 10 Gigabytes per second from day one, with plans to grow it to one Terabyte per second over the years as the number of businesses increase in the zone. She said MainOne invested heavily in the deployment of the fibre network infrastructure in the zone, which is a combination of multiple repeater towers, special licence radios, resilient radio links and fibre optic network connectivity.

The Chief Technical Officer, MainOne, Anil Verma, said: “The partnership between MainOne and Lagos Free Zone will provide strategic value to forward-thinking businesses who seek to enjoy the ease of doing business. Organisa-

tions at the Zone will experience increased speed, security, and connectivity in ‘The New Frontier’ with MainOne. Customers will also enjoy access to local data centres and other local and global service providers through the MainOne data center with connections directly from the Zone.”

The Chief Technical Officer, Lagos Free Zone, Nikhil Khandelwal, stated that the partnership with MainOne for the provision of high-speed fibre optic network at the Lagos Free Zone (LFZ), would provide an efficient technological backbone for spearheading our drive towards delivering enhanced ease of doing business to our tenants.

FG Enlists Navy Support to Identify Pipelines Hampering Bonny Seaport Kasim Sumaina in Abuja The federal government has enlisted the support of the Nigerian Navy to identify pipelines that may hamper the building of the Bonny Deep Seaport in Rivers State.

The Minister of Transportation, Mr. Chibuike Rotimi Amaechi, who made this known when the Nigerian Navy led by the Chief of the Naval Staff, Vice Admiral Awwal Gambo, paid him a courtesy call in Abuja, said a place has already been chosen to build the seaport.

Amaechi noted that there’s a place government have chosen to build the seaport and want to make sure there are no pipes in that location and enroute the location by vessels. According to him, We will be glad if they can work with us to identify where the pipes are in Bonny, so that we know where they are The Minister also said the Transportation ministry is prepared to work with the Nigerian Navy to achieve maritime security in the country and will be glad to assist if it is within the authority he presides over.

Earlier, the Chief of Naval Staff, Vice

Admiral Awwal Gambo, reiterated the need for on the ground presence of an effective team of the Nigerian Navy at all seaports across the nation.

Gambo hinted that credible intelligence has it that, “since we left the ports about 1996, the proliferation of small arms and light weapons into our country is scary. But again, at every importation of fertilizer making materials or explosives for mining sites, the Navy had to be invited.”

Also Gambo said; “If NPA invites us at every opportunity to come and inspect these consignments and also

ensure that they get to the destinations they are meant for and they are not diverted, then why not have us at the ports so that when the containers come in, they are not broached in the ports and subsequently after the inspection, we make sure they get to the right destination.

“But it has not gained the necessary traction but I have written again to see that there is need for that especially with the establishment of the Office of the National Coordinator on Small Arms and Light Weapons by the Office of the National Security Adviser.”

DANGOTE CEMENT, SEPLAT, NB, 10 OTHERS OPEX UP 17% ON INFLATIONARY PRESSURE, UNSTABLE FX progress with our expense efficiency programme through which we realised N25.1 billion in cost savings, representing a 1.5pp margin impact.

However, the continued effects of Naira depreciation on lease rental costs, acceleration in our site rollout, and the ongoing COVID-19 related expenditure resulted in operating expenses increasing by 21.9per cent.”

Similarly, some analysts believe regulatory levy by Asset Management Corporation of Nigeria (AMCON), and Nigeria Deposit Insurance Corporation (NDIC), were primarily drivers in commercial banks OPEX in 2021.

Extract from the commercial bank 2021 financial year report revealed that Access bank reported 13.08 per cent increase in OPEX to N371.14billion from N326.51billion reported in prior year, while Zenith

Bank grew its OPEX by 13.08 per cent to N289.5billion in 2021 from N256billion in 2020.

In his reaction, Head, Financial institutions, Agusto & Co, Mr. Ayokunle Olubunmi had attributed hike in commercial banks OPEX to increasing cost of operating environment, and regulatory costs.

According to him: “Hike in operating expenses differs from banks to banks. AMCON levy and NDIC premium also contribute to OPEX of banks. Dont forget that double-digit inflation rate and fall in the Naira this year impacted on banks expenses. Since banks are not operating in isolation, of course it is expected to affect their OPEX in the period.”

In addition, CEO, Centre for Promotion of Private Enterprise (CPPE), Dr Muda Yusuf explained to

THISDAY that inflationary pressures remain a key concern in the Nigerian economy, both for businesses and the citizens.

He highlighted that implications of high inflation rate include escalation of production and operating costs for businesses, leading to erosion of profit margins, drop in sales, decline in turnover and weak manufacturing capacity utilization, high food prices which impacts adversely on citizens welfare and aggravates poverty.

He further stated that Weak purchasing power, which poses significant risk to business sustainability and price volatility, which undermines investors’ confidence are major implications of high inflation pressure.

He explained that the major drivers of inflation and cost in the economy include exchange

rate depreciation, which has a significant impact on headline inflation, “especially the core sub index and liquidity challenges in the foreign exchange market impacting adversely on manufacturing output.”

He added, “High transportation costs affecting distribution costs across the country. This is also reflected in the huge differential between farm gate prices and market prices; monetization of fiscal deficit (CBN financing of deficit) is highly inflationary because of the liquidity injection effects on the economy. This becomes worrisome when statutory thresholds are exceeded and high transactions costs at the nations ports increases production and operating costs of businesses.”

To tame the current inflationary pressure, he urged government

to reform the foreign exchange market to stabilize the exchange rate and reduce volatility and address foreign exchange liquidity issues through appropriate policy measures.

Others are: “Address the security concerns causing disruption to agricultural activities, address the challenge of high transportation cost, reduce fiscal deficit monetization to minimize incidence of high-powered money in the economy, reduce import duty on intermediate products and raw materials for industries to reduce production costs, especially in the light of the sharp depreciation in the exchange rate and address concerns around high energy cost.”

Chief operating officer of InvestData Consulting Limited, Mr. Ambrose Omordion, however, called on the federal government to

improve more on enabling business environment to reduce the burden of companies operating in the country.

He expressed further that companies’ performance of 2021 highlighted improvement when compared to 2020 financials when the COVID-19 pandemic ravaged the global economy.

He noted that despite the challenges, the management of these companies have understudied inflationary pressure and weaken Naira to enhance profitability and dividend payout to shareholders.

According to him: “This is not the first time business managers have seen a hike in inflation and weaken the Naira at the foreign exchange market. They have effectively managed their businesses and grow profitability despite the challenges.”

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‘NCC’s Presence at ITU Will Enhance Nigeria’s Digital Transformation Agenda’ Emma Okonji Nigerian Communications Commission’s (NCC’s) vast experience as a long-standing member of the International Telecommunication Union (ITU) has served as a booster to the Commission in its effective implementation of government policies, and in stimulating regulatory initiatives focused on advancing Nigeria’s digital transformation, the NCC has said.

Executive Vice Chairman of NCC, Prof. Umar Garba Danbatta, stated this while addressing global actors in the Information and Communication Technology (ICT) industry at the ongoing Session of the ITU Council taking place in-person at the ITU Headquarters in Geneva, Switzerland, from March 21-31, 2022.

Speaking at the Council session, Danbatta said the challenges posed by the COVID-19 pandemic underscore the important role that ICT will continue to play in ensuring peace, security and prosperity around the world. “It is as a result of the enabling experiences in the ITU ecosystem that Nigeria continue to be active and forward-looking regarding the activities of the ITU as the leading organ of the United Nations (UN) in the area of ICT,” Danbatta said.

He emphasised that, as a longstanding member of Council, Nigeria has utilised ICT as a driver of socioeconomic development not just for herself, but also for the benefit of the sub-region and the continent, given its role as a founding member and flagship promoter of the West African Telecommunications Regulators

NAHCO Secures Qatar Airways Contracts Emma Okonji Nigerian Communications Commission’s (NCC’s) vast experience as a long-standing member of the International Telecommunication Union (ITU) has served as a booster to the Commission in its effective implementation of government policies, and in stimulating regulatory initiatives focused on advancing Nigeria’s digital transformation, the NCC has said.

Executive Vice Chairman of NCC, Prof. Umar Garba Danbatta, stated this while addressing global actors in the Information and Communication Technology (ICT) industry at

the ongoing Session of the ITU Council taking place in-person at the ITU Headquarters in Geneva, Switzerland, from March 21-31, 2022.

Speaking at the Council session, Danbatta said the challenges posed by the COVID-19 pandemic underscore the important role that ICT will continue to play in ensuring peace, security and prosperity around the world. “It is as a result of the enabling experiences in the ITU ecosystem that Nigeria continue to be active and forward-looking regarding the activities of the ITU as the leading organ of the United Nations (UN) in the area of ICT,” Danbatta said.

Assembly (WATRA). “Over the years, as a member of ITU, Nigeria has chaired World Radiocommunication Conference (WRC)-15; chaired ITU Council Standing Committee on Administration and Management

(SC-ADM), in 2019 and 2022; as well as chaired the Ad-Hoc Committee on ITU Regional Presence”, the EVC said to underscore the strategic, symbiotic relationship between Nigeria and ITU.Reinforcing the

intensity of his assertion on the contribution of Nigeria in ITU, Danbatta said, “Nigeria had also chaired ITU-Standardization (ITU-T) Study Group 20 Regional Group for Africa; served as Vice Chairman,

ITU-T Study group 20; served as Vice-Chair, ITU-T Study Group 12; Vice-Chair, ITU-Development D Study Group 2; as well as provided Financial Support to ITU Headquarters Building, among others.”

CRC Credit Bureau Appoints Adesalu MD of Subsidiary CRC Data and Analytic Nume Ekeghe CRC Credit Bureau Limited has announced that it has appointed Ademola Adesalu as the Managing Director of its newly established subsidiary, CRC Data and Analytics Limited. The company in a statement said, “This appointment, effective January 1, 2022, is in furtherance to CRC operating under a group structure with diversified business

interests in credit reporting, and data & analytics. The newly established subsidiary, CRC Data & Analytics Limited is committed to accelerating data-driven outcomes across lines of businesses, developing faster results, deeper insights, heightened decisions, and ultimately, business development through self-service analytics and data science.

“Mr. Ademola Adesalu will oversee the growing team of data

analytics experts and manage the processes and people responsible for accurate data collection, processing, modeling and analysis. He brings to the company his wealth of experience in advanced data modeling, predictive modeling and analytical techniques to interpret key findings from company data. Businesses can leverage these insights into initiatives that will solve problems and support business outcomes.”

Speaking on the new appointment, Group Managing Director/CEO of CRC Credit Bureau Limited, Dr. ‘Tunde Popoola, stated: “Ademola Adesalu has been an integral part of CRC’s growth since its inception in 2008. He led the team that set up our infrastructure solution in 2008 and has brought a wide-ranging data-backed experience focused around several key industries making him the best man for the job.”

NPDC/NOSL to Employ 5,500 Youths, Commences Operation in A’Ibom December 2022 Okon Bassey in Uyo Akwa Ibom State Government has said that about 5,500 youths would be employed at the commencement of operations of SevenOil Fields handled by Nigerian Petroleum Development Company and Natural Oil field Service Limited (NPDC/ NOSL) located in the state by the end of 2022.

The State Governor, Mr Udom Emmanuel dropped the hint weekend

during an inspection of NPDC & NOSL Oil & Gas Exploration in OML-13 site, at Atabrikang Fields, Eastern Obolo Local Government Area of the state.

The governor expressed satisfaction with the pace of work ongoing at the project site executed in partnership with NPDC, a subsidiary of the Nigerian National Petroleum Corporation (NNPC) and NOSL, a subsidiary of Sterling oil.

“Today (Friday) was for me to come and assess the level of work done, most times when we make statements because people are so used to political statements they probably thought that we were just talking politics, I believe that today Eastern Obolo has seen tremendous progress, “he stated.

In his remarks, the Managing Director, NPDC, Ali Zarah, thanked Akwa Ibom State Government for a peaceful atmosphere to operate as a

company and assured of bringing development to the community as well as mutual benefits for all.

Also speaking, the Chief Executive Officer, Sterling Oil, Mr. Mohit Barot, said the company has created over 1,000 jobs for youths in the area, and assured of completing the project, adding that Sterling Oil is active in 18 locations and operational at Eastern Obolo, ONNA and Mkpat Enin local government areas.

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T H I S D AY MONDAY MARCH 2022 Monday 28 28, March, 2022 Vol 27. No 9848 TR

See page 28 THE WORLD MUST UNITE TO STOP THE UKRAINIAN WAR Global leaders must keep their cool and try to resolve issues peacefully, writes RAJENDRA ANEJA See page 28 EDEVBIE AND THE RIVERINE COMMUNITIES FRED EDOREH canvasses support for Edevbie’s agenda on development of the riverine areas

See page 29 ASUU STRIKE AND NIGERIAN YOUTHS The youths deserve better attention, argues TEMITOPE TAIWO

See page 29 EDITORIAL ASUU AND PUBLIC UNIVERSITIES See page 30

& RE A S O

N

opinion@thisdaylive.com

www.thisdaylive.com

FUTURE FOOD SYSTEM: ROLE OF BUSINESS, SCIENCE AND INNOVATION TIMI OLUBIYI canvasses the need to regulate genetically modified foods

UT H

Oil and gas assets should be exploited responsibly with emphasis on maintenance, writes DAMILOLA ADE-ODIACHI

RESPONSIBLE OIL PRODUCTION AND DECOMMISSIONING Nigeria’s Oil and Gas Industry faces a crisis that stakeholders are only just paying attention to; responsible oil production and decommissioning.

It is a threat that has lingered since the very dawn of oil production in Nigeria. At its core, it involves three questions.

One, what will become of the heavy-duty equipment used to extract petroleum resources once they have been exhausted?

Two, what happens to the environment once the season of exploitation is over? Three, who will bear the cost of solving these two issues?

These three questions will determine the path Nigeria’s oil and gas industry follows.

What is decommissioning? No oil production DVVHW RQVKRUH RU RͿVKRUH EH LW D ZHOO D WHUPLQDO or a pipeline lasts forever. According to the hyperbolic decline rate reservoir model, an oil well has a 20-30 year lifespan. Upon reaching the end of its productive season an oil site should be restored to its original condition through the removal of infrastructure used during operations, environmental remediation and land restoration to account for any spills or pollution that has occurred over the years of production.

Operators must plug well bores with cement to prevent ground water contamination; storage tanks, well heads, waste handling pits, processing equipment and pump jacks must be removed as stipulated by the Environmental Guidelines and Standards for the Petroleum Industry. This process is known as decommissioning.

Decommissioning is only a part of the responsible production process. Oil and Gas assets should be exploited responsibly with heavy emphasis on maintenance. Original equipment manufacturer maintenance stipulations, local regulations and international best practices should be adhered to.

Why must we decommission oil and gas assets? ` If oil wells are not properly decommissioned, and oil resources are not exploited responsibly a range of negative externalities arises.

Abandoned wells are an environmental problem, a health hazard and a public nuisance.

They have been linked to several instances of ground water contamination, polluting water sources with carcinogenic materials like benzene, a chemical which is believed to cause aplastic anaemia and leukaemia.

These wells also emit methane, a gas which has 80 times more global warming potential WKDQ FDUERQ GLR[LGH RYHU WKH ÀUVW \HDUV DIWHU LW UHDFKHV WKH DWPRVSKHUH :KHQ RLO ÀHOGV DUH not properly decommissioned, they continue to pollute the air with methane and contaminate ground water from which local populations derive potable water in perpetuity.

Waste generated by oil exploitation is toxic and must be removed. If it is not removed the hazardous materials continue to pollute the land, reduce the health outcomes of local populations and completely interfere with their ability to make a living. This is especially true because many communities in the Niger Delta are rural DQG UHO\ RQ ÀVKLQJ DQG IDUPLQJ WR HDUQ D OLYLQJ 7KHVH WZR DFWLYLWLHV EHFRPH GL΀FXOW ZKHQ

abandoned oil wells are spewing poison into VRLO DQG SROOXWLQJ ULYHUV 1LJHULD DOUHDG\ VXͿHUV IURP WKH HͿHFWV RI ODSVHV LQ WKH UHVSRQVLEOH RLO production process.

What is international best practice on decommissioning and environmental remediation post oil production?

Decommissioning is a costly process. For example, the British Government has estimated WKH FRVW RI GHFRPPLVVLRQLQJ À[HG installations and plugging 7000 oil wells in the North Sea basin to be $150 billion. According to Wood Mackenzie, the cost of decommissioning works worldwide will be about 104.5 billion US dollars by 2030. As a result of the high cost of decommissioning and post production environmental remediation, oil companies are expected to estimate the amount the process might come to. Following this, they’re expected to put money aside to cover this expense.

This can be done in a number of ways. The company can obtain a letter of credit from a bank which ensures that all decommissioning costs are covered. This is standard operating procedure in the United Kingdom where operators are encouraged to enter a Decommissioning Security Agreement.

In some cases reserve trust funds are established for decommissioning. These are funded by a IUDFWLRQ RI WKH UHYHQXH UHFHLYHG RU WKH SURÀW PDGH IRU HDFK EDUUHO RI RLO SURGXFHG DW HDFK ÀHOG 7KLV fund would accumulate over time and would be available for funding decommissioning and environmental remediation activities after the life of the asset. This fund is also usually reported in WKH RSHUDWRU·V ÀQDQFLDO UHSRUWV These processes are enshrined by the international accounting standards, laws and conventions. In addition to this, they are observed by international oil companies all over the world.

How is decommissioning practiced in Nigeria?

Nigeria has laws, regulations and guidelines that protect the environment and lay out the process for responsible oil production which

Abandoned wells are an environmental problem, a health hazard and a public nuisance. They have been linked to several instances of ground water contamination, polluting water sources with carcinogenic materials like benzene

HQGV ZLWK HͿHFWLYH GHFRPPLVVLRQLQJ 7KHVH include the petroleum industry Act, and the Environmental Guidelines and Standards for the Petroleum Industry in Nigeria. However, a quick look at the state of the environment in the Niger Delta shows that these laws, regulations and guidelines, have been ignored, and that enforcement is weak.

Does the recent divestment round by the IOCs change anything?

Recently, International Oil Companies operating in Nigeria have been divesting from their onshore and shallow water assets. In the last decade alone IOCs have exited their ownership of 26 Oil Mining Licenses. Shell Petroleum Development Company (SPDC) has parted ways with OMLs 4, 17, 18, 29, 38 and 42. Chevron has sold its shares in OMLs 83 and 85 with further plans to sell OMLs 82, 86, and 88. Total has also made plans to let go of its Nigerian Onshore and Shallow water projects. Recently, Exxon Mobil announced that it plans to sell its entire Nigerian shallow water and onshore portfolio to Seplat Energy. It is a move that has attracted the intense attention of the Nigerian National Petroleum Company (NNPC).

One of the biggest concerns industry stakeholders have about the divestment strategy being executed by International Companies is the question of responsibility. Oil production comes with environmental degradation. Nigeria has not been without its fair share of oil spills over the years. According to the National Oil Spill Detection and Response Agency there were 4,919 oil spills between 2015 and March 2021. Many of them are yet to be properly cleaned up, and their sites are yet to be completely remediated. Oil companies have a duty to execute these projects but what happens when there is a change of ownership? Does the liability remain with the original facility operator or is it transferred to WKH QHZ RZQHU RI WKH RLO ÀHOG" ,Q DGGLWLRQ WR WKLV who bears the cost of the decommissioning of the asset, the new owner or the old owner? Clarity is needed on historic operator liability and current operator liability for decommissioning.

7KHUH DUH PDQ\ ÀHOGV LQ 1LJHULD WKDW UHTXLUH immediate decommissioning or will do so in the near future. The federal government must shed OLJKW RQ ZKHUH WKH ÀQDQFLDO OLDELOLW\ OLHV DQG impose on the liable party the duty of investing in the activities required to achieve responsible RLO SURGXFWLRQ DQG HͿHFWLYH GHFRPPLVVLRQLQJ Around the world there is evidence of provisions international oil companies make towards ensuring the safety of the environment.

The same measures should be applied in Nigeria as well. If there have been funds set aside for environmental remediation and decommissioning then stakeholders have the duty to audit the application of the funds.

Ade-Odiachi is Communications and Client Services Manager, IPMC

329

T H I S D AY MONDAY MARCH 28, 2022

The youths deserve better attention, argues TEMITOPE TAIWO FRED EDOREH canvasses support for Edevbie’s agenda on development of the riverine areas

EDEVBIE AND THE RIVERINE COMMUNITIES 2ORURJXQ 'DYLG (GHYELH ZDV HPSKDWLF when he declared his interest: that when HOHFWHG DV *RYHUQRU KH ZRXOG SD\ DWWHQWLRQ WR WKH GHYHORSPHQW RI ULYHULQH FRPPXQLWLHV ´:H FDQQRW DFKLHYH DQ\ PHDQLQJIXO GHYHORSPHQW LI ZH GR QRW SD\ PRUH DWWHQWLRQ DQG GHYRWH PRUH UHVRXUFHV WR RSHQLQJ XS FRQQHFWLQJ DQG LQWHJUDWLQJ WKH ULYHULQH FRPPXQLWLHV LQ RXU GHYHORSPHQW SURFHVV µ KH VDLG ´5LYHULQH FRPPXQLWLHV DUH D JUHDW DVVHW WR DQ\ QDWLRQ DQG GHYHORSLQJ WKHP PHDQV GHYHORSLQJ WKH QDWLRQ 7KH\ SUHVHQW JUHDW YDOXHV IRU DJULFXOWXUH ÀVKHULHV transportation, processing industries, FRPPHUFH DQG PDQ\ PRUH µ Our experience in Delta and many RWKHU SDUWV RI 1LJHULD LV WKDW WKH ULYHULQH FRPPXQLWLHV KDYH DOZD\V EHHQ OHIW RXW LQ GHYHORSPHQW 7KH VLWXDWLRQ KDV SUHVHQWHG serious inequity in human and economic GHYHORSPHQW OHDYLQJ PDMRULW\ RI WKH SHRSOH PRVWO\ LQ SRYHUW\ DQG ORZ VWDQGDUG RI OLYLQJ 7KH XVXDO H[FXVH LV WKDW EHLQJ ULYHULQH WKH WHUUDLQ LV H[SHQVLYH WR GHYHORS 7KH DGGHG QHJDWLYH LPSDFW LV WKDW EHLQJ XQGHYHORSHG LW EHFRPHV GL΀FXOW WR GUDZ LQ LQIUDVWUXFWXUH ZKLFK DOVR PDNHV LW GL΀FXOW IRU LQYHVWRUV WR JR LQ WR GULYH LQGXVWULDOLVDWLRQ ZKLFK LQ WXUQ DOVR PDNHV LW GL΀FXOW WR FUHDWH PHDQLQJIXO employment opportunities and platforms for enterprise. ´:H QHHG WR UHYHUVH WKLV RXWORRN ,W LV WUXH WKDW WKH ULYHULQH DUHD LV H[SHQVLYH WR GHYHORS but we must also recognise that the same ULYHULQH DUHDV SURYLGH D VLJQLÀFDQW SRUWLRQ RI WKH VWDWH DQG QDWLRQDO UHYHQXH WKURXJK WKHLU oil and gas deposits, agricultural and marine UHVRXUFHV )URP ZKRP PXFK LV WDNHQ PXFK DOVR VKRXOG EH JLYHQ ´7KH WUXH V\PERO RI DQ\ QDWLRQV· FLYLOLVDWLRQ DQG JURZWK LV LQ WKH SROLWLFDO ZLOOLQJQHVV DQG DELOLW\ WR GHYHORS LWV ULYHULQH and inner communities. Some of the most EHDXWLIXO FLWLHV LQ WKH ZRUOG DUH LQ ULYHULQH communities. Take Miami, take Tennessee, WDNH &ROXPELD UHJLRQV LQ WKH 86 WDNH 9HQLFH LQ ,WDO\ ([DPSOHV DERXQG :H KDYH WKH 7KLUG 0DLQODQG %ULGJH DQG WKH\ DUH SODQQLQJ D )RXUWK DQG )LIWK 0DLQODQG %ULGJH LQ /DJRV 7KH\ DUH DOO ORQJ EULGJHV RYHU ZDWHU (YHQ GHVHUW UHJLRQV OLNH 'XEDL KDYH DOVR EHHQ GHYHORSHG DV ZRUOG FHQWUHV ,W DOO VKRZV WKDW WKHUH LV QR WHUUDLQ WKDW FDQQRW EH GHYHORSHG What is required is understanding their YDOXH DQG KDYLQJ WKH ZLOOLQJQHVV WR LQYHVW in meeting their needs to integrate them HͿHFWLYHO\ LQ WKH GHYHORSPHQW SURFHVV ´:H PXVW WKHUHIRUH EH ZLOOLQJ WR VSHQG PRUH PRQH\ WR GHYHORS DQG PRUH UREXVWO\ FRQQHFW RXU ULYHULQH FRPPXQLWLHV ZLWK RXU XSODQG DUHDV WR LQWHJUDWH RXU GHYHORSPHQW architecture. ´7KLV ZLOO HQDEOH WKH SHQHWUDWLRQ RI PRUH physical and social infrastructure to make LW HDV\ DQG DWWUDFWLYH IRU LQYHVWRUV DQG industries to go in. This will support greater RXWSXW LQ DJULFXOWXUH DQG ÀVKHULHV LPSURYH WUDQVSRUWDWLRQ DQG FRPPHUFLDO DFWLYLWLHV DQG SURYLGH RSSRUWXQLWLHV IRU MREV DQG ZHDOWK creation in the area. ´:H UHFRJQLVHG WKLV HDUO\ LQ &KLHI -DPHV Ibori’s administration and that led to the FRQVWUXFWLRQ RI WKH 2PDGLQR %RPDGL DQG $ERK EULGJHV %HIRUH WKHQ PDQ\ RI WKH ULYHULQH FRPPXQLWLHV ZHUH WHUULEO\ FXW RͿ and it looked like they were not part of our world. With those bridges, there has been fair measure of connection.

´*RYHUQRU ,IHDQ\L 2NRZD KDV EXLOW RQ WKDW and contributed fairly in connecting some of the communities, but so much more still needs WR EH GRQH /LIH LQ WKH ULYHULQH FRPPXQLWLHV LV VWLOO D IDU FU\ IURP ZKDW LW VKRXOG EH µ (GHYELH KDV LW DOO PDSSHG RXW ZLWK D KXJH SODQ WR SURYLGH D FRDVWDO URDG FRQQHFWLQJ 2NR to Abala area in Delta North and linking it up to Patani in Delta South. The plan means SURYLGLQJ DQRWKHU PDMRU DUWHU\ RI FRQQHFWLRQ DQG GHYHORSPHQW LQ 'HOWD 6WDWH Added to the major coastal road is the QHHG WR DOVR SURYLGH D QHWZRUN RI URDGV linking the hundreds of inner communities LQ WKH ULYHULQH DUHDV ZKLOH DOVR LPSURYLQJ RQ ULYHU QDYLJDWLRQ DQG WUDQVSRUWDWLRQ 7KLV LV included in the plan.

His plans also include deliberate action

WR UHDFWLYDWH RSHUDWLRQV LQ :DUUL SRUW DQG UHYDPS WKH .RNR DQG %XUXWX SRUWV It is indeed a tragedy that these ports KDYH EHHQ DOORZHG WR ZDOORZ LQ LQDFWLYLW\ RU XQGHU FDSDFLW\ XWLOLVDWLRQ DQG (GHYELH VD\V deliberate action would be taken through SDUWQHUVKLS ZLWK WKH SULYDWH VHFWRU DQG QHJRWLDWLRQV ZLWK WKH IHGHUDO JRYHUQPHQW DQG YDULRXV PDULQH DXWKRULWLHV WR EULQJ WKHVH ports back to life. %HIRUH QRZ WKH IHGHUDO JRYHUQPHQW VDZ UHDVRQV WR LQYHVW LQ WKH GHYHORSPHQW RI ULYHU EDVLQV DQG ZH KDG 1LJHU 'HOWD DQG %HQLQ 2ZHQD DV SDUW RI WKH 5LYHU %DVLQ GHYHORSPHQW DXWKRULWLHV At last, it has been seen that the intention ZDV QRW DFWXDOO\ WR GHYHORS WKH DUHDV LQ WHUPV of infrastructure but only mostly to exploit the ZDWHU UHVRXUFHV RI WKH UHJLRQV WR LPSURYH RQ agricultural output during the great drought LQ WKH 6DKHO UHJLRQ 7RGD\ WKH ULYHU EDVLQ authorities are no longer functioning.

We must therefore take our destiny in our hands in recognition that it is our duty to GHYHORS RXU RZQ VSDFH WR SURYLGH DQG HTXLS our people with the necessary capacity to ZLGHQ WKHLU KRUL]RQ DQG HOHYDWH WKHLU VWDQGDUG RI OLYLQJ WKURXJK DFFHVV WR URDGV JUHDWHU interaction and exchange with wider world and opportunities for greater enterprise, industrialisation, power supply, commerce, access to new technologies, digitization, and employment opportunities.

7KLV LV ZK\ WKH (GHYELH DJHQGD IRU WKH GHYHORSPHQW RI WKH ULYHULQH DUHDV RI 'HOWD 6WDWH LV SURIRXQGO\ LPSHUDWLYH

Edoreh, a veteran journalist and social commentator, writes from Lagos

ASUU STRIKE AND NIGERIAN YOUTHS The Nigerian education system keeps frustrating ambitions and aspirations with the frequent culture of disruptions to the process of acquiring knowledge. Recently, WKH $FDGHPLF 6WDͿ 8QLRQ RI 8QLYHUVLWLHV $688 DQQRXQFHG DQ DGGLWLRQDO WZR PRQWKV VWULNH WR HQVXUH WKH JRYHUQPHQW stops reneging on agreements with the union. The latest episode calls for concern and a rethink: this is the 16th strike since Nigeria’s return to democracy in 1999.

Despite these actions, there is little to show for it. $Q\RQH IROORZLQJ WKH GHYHORSPHQW wouldn’t be entirely surprised with 7KH &DEOH UHSRUW RQ WKH HͿHFW DQG possibilities of the actions. According to WKH FRPSUHKHQVLYH UHSRUW WKH QXPEHU RI WLPHV $688 KDV JRQH RQ VWULNH LQ WKH last 23 years is enough to earn a student a bachelor’s degree in an uninterrupted academic setting.

In the Nigerian context, strike is seen as WKH ODVW UHVRUW ZKHQ DOO RWKHU HͿRUWV KDYH SURYHG DERUWLYH ,W LV FRPPRQ NQRZOHGJH that the only language the Nigerian JRYHUQPHQW XQGHUVWDQGV LV VWULNH +RZHYHU WKLV DFWLRQ FRPHV ZLWK VRPH XQSOHDVDQW HͿHFWV RQ WKH DͿHFWHG VHFWRU $688 VWULNHV KDYH GRQH PRUH KDUP WKDQ good on the education sector with students bearing most of the accruing costs.

As a result of the regular strikes, most VWXGHQWV UHVRUW WR YHQWXULQJ LQWR WRZQ IRU opportunities to earn stipends. Some of them end up securing employment with big organizations. A situation that makes education less interesting and sets them in a tight corner when classes resume from industrial action.

Aside the increasing rate of school GURSRXWV QRW D IHZ FLWL]HQV KDYH ORVW KRSH in the Nigerian education system. Parents ZKR FDQ DͿRUG WR VHQG WKHLU FKLOGUHQ abroad for education are now doing so DQG WKRVH ZKR FDQQRW DͿRUG WKH ELOOV UHJLVWHU WKHLU FKLOGUHQ LQ SULYDWHO\ RZQHG XQLYHUVLWLHV LQ WKH FRXQWU\ ,Q DQ $XJXVW UHSRUW WLWOHG $688 )* ELFNHU RYHU XQIXOÀOOHG DJUHHPHQW SXEOLVKHG E\ 7KH *XDUGLDQ 1LJHULD ORVHV 1 WULOOLRQ SHU DQQXP WR RYHUVHDV VWXGLHV 1HLJKERXULQJ :HVW $IULFDQ FRXQWULHV VXFK DV *KDQD 8JDQGD DQG %HQLQ 5HSXEOLF ZKR ZHUH formerly not at par with Nigeria in the area of standard education now come across as EHWWHU DOWHUQDWLYHV IRU 1LJHULDQV VHHNLQJ quality education on the African continent. )URP WKH 1RUWK WR WKH 6RXWK WKH conclusion on attendance of federal and VWDWH RZQHG XQLYHUVLWLHV LV WURXEOLQJ (YHU\RQH EHOLHYHV FKLOGUHQ RI ORZHU citizens make up the mass of students attending these institutions. $SDUW IURP WKH DIRUHPHQWLRQHG HͿHFWV of long winding academic interruption, the quality of education dished to student is far from laudable. Regular strikes rob RͿ DFDGHPLF WLPH IURP VFKRRO FDOHQGDUV and upon resumption, academics tend to rush academic work which might mean forgoing important part of the course work.

8OWLPDWHO\ WKLV KDV D NQRFN RQ HͿHFW RQ the intellectual capacity of the student.

Embarking on strike causes students to spend more time than the statutory GXUDWLRQ LQ VFKRRO 7KLV KDV DQ HͿHFW RQ the employment pattern where age is an LPSRUWDQW FRQVLGHUDWLRQ IRU HQWU\ OHYHO jobs.

Increase in youthful crime and

immorality is not unrelated to the LQFHVVDQW $688 VWULNHV 7KH VD\LQJ ´DQ LGOH KDQG LV WKH GHYLO·V ZRUNVKRSµ DSWO\ describes the preoccupation of some youth while schools are shut. Lack of YLVLRQ DQG PLVVLRQ PDNHV D KDQGIXO RI youth wander about with no direction.

Thus, engaging in all sorts of illegal EXVLQHVVHV OLNH F\EHU FULPH JDPEOLQJ fraudulent acts, etc.

7KH IHGHUDO JRYHUQPHQW DQG $688 KDYH EHHQ DW ORJJHUKHDGV RYHU WKH IDLOXUH RI WKH IRUPHU WR IXOÀOO VRPH RI WKH DJUHHPHQWV it made as far back as 2009. The lecturers complained that most of their demands are yet to be met. The agreement includes: breakdown of lecturers’ salary structure, ORDQV SHQVLRQ RYHUWLPH DQG PRGHUDWLRQ of examinations.

One pertinent demand from the agreement is the allocation of at least 26% of Nigeria’s annual budget to the HGXFDWLRQ VHFWRU %XW $688 QDWLRQDO president, Prof. Emmanuel Osodeke, says WKH GHPDQG UHPDLQV XQPHW ´$OO RXU DJUHHPHQWV ZLWK WKH JRYHUQPHQW DOO WKHVH \HDUV KDYH DOZD\V FRQWDLQHG WKH FODXVH WKDW JRYHUQPHQW VKRXOG SURJUHVVLYHO\ increase the allocation to the sector, so that we can get to the international standard of 26% allocation to the sector.

8QIRUWXQDWHO\ LQVWHDG RI XV PDUFKLQJ IRUZDUG ZH DUH PDUFKLQJ EDFNZDUGµ The 2009 agreement also emphasized WKH IXQGLQJ IRU UHYLWDOL]DWLRQ RI SXEOLF XQLYHUVLWLHV DQG WKH LQFRQVLVWHQFLHV LQ the Integrated Payroll and Personal ,QIRUPDWLRQ 6\VWHP 3D\PHQW ,33,6 among other concerns.

Certainly, there are structural and funding issues that need to be tackled GHFLVLYHO\ E\ WKH JRYHUQPHQW EXW $688 members also need to look inward DQG GHYHORS FUHDWLYH ZD\V WR JHQHUDWH UHYHQXHV ZLWKRXW VROHO\ UHO\LQJ RQ WKH JRYHUQPHQW IRU IXQGLQJ It’s glaring that the economic situation of the country can no longer sustain the FXUUHQW V\VWHP LQ JRYHUQPHQW RZQHG XQLYHUVLWLHV +RZHYHU D V\VWHP WKDW ZLOO ease this payment processes should be put in place with top priority to quality education.

7KH 1LJHULDQ \RXWK GHVHUYHV EHWWHU

Taiwo, a media executive, writes from Lagos

2 28

T H I S D AY MONDAY MARCH 28, 2022

TIMI OLUBIYI canvasses the need to regulate genetically modified foods

FUTURE FOOD SYSTEM: ROLE OF BUSINESS, SCIENCE AND INNOVATION The common social concerns are high mortality rate, poverty and malnutrition in the country. But for the concerns that bother on health, the advice is usually to reduce fats, cholesterols and sugar intake, improve on nutrition and good diet, do not smoke, and so on to avoid health issues. However, the fact is food is about health and healthy living, but less is heard about the need to promote organic food eating, in a world where innovation is now widespread in Agric-Business and farming, with the genetically engineering of crops and foods. *HQHWLFDOO\ 0RGLÀHG *0 IRRGV DUH IRRGV WKDW DUH SURGXFHG IURP JHQHWLFDOO\ PRGLÀHG organisms (GMO) that have had their DNA altered through genetic engineering. *HQHWLF PRGLÀFDWLRQ DOVR NQRZQ DV JHQHWLF engineering, simply means having the DNA RI FURSV DQG IRRGVWXͿV DOWHUHG XVLQJ JHQHV from other plants or animals to achieve VSHFLÀF DLPV 6FLHQWLVWV WDNH WKH JHQH IRU WKH desired trait in one plant or animal, and they insert that gene into a cell of another plant or animal. So, with this in mind, the natural ways of growing crops and even mating by animals can be bypassed for commercial and EXVLQHVV JDLQV 7KLV FRQFHSW LV TXLWH GLͿHUHQW from the conventional gestation period and natural farm harvest time.

Scientists take the gene or seed for a GHVLUHG WUDLW FRORXU ÁDYRXU WH[WXUH HDUO\ maturation, greater yield and bigger output) in one plant or animal, and they insert that gene into a cell of another plant or animal to SURGXFH WKH VSHFLÀF DQG GHVLUHG UHVXOWV , DP PDGH WR XQGHUVWDQG WKDW WKH EHQHÀWV RI WKLV innovation in agriculture include better taste, D ORQJHU VKHOI OLIH EHWWHU QXWULWLRQ DQG TXDOLW\ LQFUHDVHG SURÀW IRU JURZHUV YLUXV DQG LQVHFW UHVLVWDQFH KHUELFLGH WROHUDQFH DQG LQFUHDVHG food yield to alleviate hunger. Furthermore, WKH NH\ EHQHÀW RI WKLV WUHQG LV PDLQO\ IRU multiple productions of food, though many ÀVK RU FKLFNHQ FDQ PDWXUH PRUH TXLFNO\ with this innovation as well, with the hope of lowering costs, with fewer environmental resources (such as water and fertilizer). The big question and concern are who regulates this process in the country? A place where VKRUWFXWV GXPSLQJ SURÀWHHULQJ DW HYHU\ cost are the order of the day, this should be a FDXVH IRU FRQFHUQ , KDYH VHHQ ÀUVW JHQHUDWLRQ products such as oranges without seeds, corn with less harvesting period, plastic-looking tomatoes, bananas and plantains looking like toys, chicken ready for consumption in three months and a host of others mainly due to commercialization. The main motive LV IRU SURÀWDELOLW\ RI WKH EXVLQHVVHV WKDW DUH involved in the enhanced food production.

Enhanced food production through JHQHWLFDO PRGLÀFDWLRQ RI WKH IRRGV PD\ EH everywhere considering the economic woes, shrinking disposable income and the poor DͿRUGDELOLW\ RI PDQ\ %XW LV WKHUH DQ\ TXDOLW\ checks or control on all these genetically PRGLÀHG IRRGV WKDW DUH IUHHO\ DYDLODEOH in the markets? Who monitors the health implications if any? Businesses may just be feeding the poor, the hungry with this process ZLWKRXW DQ\ VFLHQWLÀF FKHFNV ,Q IDFW PDQ\ consuming these foods may not necessarily be aware of the makeup of the foods or be aware that they are actually consuming genetically PRGLÀHG IRRGV $ TXLFN VXUYH\ WR XQGHUVWDQG the viewpoints of consumers on genetically PRGLÀHG IRRGV LQGLFDWHG WKDW PDQ\ ZHUH unaware of the concept in agriculture or

farming. In fact, a large number close to 90% of those surveyed have no idea what the concept means. The answer from most of them was” I am just hearing about it for the ÀUVW WLPHµ 7KLV LV WKH NH\ UHDVRQ IRU WKLV SLHFH to bring awareness to the growing trend of IRRGV WKDW DUH JHQHWLFDOO\ PRGLÀHG DQG WKH need to provide guidelines, improve food safety, to avoid potential harm and cases of unknown sicknesses in the world and indeed Nigeria. Though the concept could make food available commercially and could make for better yield compared to traditional breeding, the important thing is the quality control DQG WKH QHHG WR FHUWLI\ LW ÀW IRU FRQVXPSWLRQ before production on commercial scale.

Because like all new technologies, such foods may also pose some risks, both known and/ or unknown.

In a country where many shun moral and ethical values much is expected from the Research Institutes, National Agency for Food and Drug Administration and Control, (NAFDAC), Consumer Protection Council and other sister agencies to regulate, control and set standards for genetically PRGLÀHG IRRGV $OWKRXJK WKHUH KDV EHHQ QR HYLGHQFH RI GHWULPHQWDO RU WR[LF HͿHFWV IURP WKH XVH RI JHQHWLFDOO\ PRGLÀHG IRRGV in the country, the truth is that no one can predict all its consequences. Currently, the public knowledge is weak and farmers, food retailers, restaurants and caterers rarely inform customers or consumers of the foods, crops or ingredients, they deal with, or that it FRQWDLQV JHQHWLFDOO\ PRGLÀHG RUJDQLVPV RU not, because currently, no law compels them to do so.

Even though the production of genetically PRGLÀHG IRRGV LQYROYHV WDPSHULQJ ZLWK nature, the entrepreneurs, businesses and farmers involved in such production claim that these foods are safe and have no side HͿHFWV &RQYHUVHO\ LQ P\ RSLQLRQ JHQHWLFDOO\ PRGLÀHG IRRGV UHSUHVHQW D VLJQLÀFDQW innovation and commercial breakthrough in the Agric-Business, therefore to a high degree, DEXQGDQW KDUYHVWV DQG SURÀWDELOLW\ PD\ MXVW be the key drive, so there is need to regulate.

6R HͿHFWLYH UHJXODWLRQV VWDQGDUG guidelines and the need to have genetically PRGLÀHG IRRG UHJXODWLRQV LQ WKH FRXQWU\ is expedient. I am just concerned and I think many too should be, over the safety of the food we consume and the health implications because majority are poor and ZKDW LV DͿRUGDEOH PLJKW QRW EH ULJKW IRU consumption. Nevertheless, genetically PRGLÀHG IRRGV KDYH HQWHUHG RXU IRRG EDVNHW largely via imports or due to cultivation of JHQHWLFDOO\ PRGLÀHG IRRG FURSV LW LV VWLOO ULJKW for the apex food regulators in the country to carry out safety assessment because this is central in ruling out fear, uncertainty, and doubt (often shortened to FUD) in consumers and citizenry going forward.

In conclusion, government and the regulators must set up a system for regulating both domestically produced and imported JHQHWLFDOO\ PRGLÀHG IRRG SURGXFWV EHFDXVH Australia, Brazil, the European Union and RWKHUV GR UHJXODWH JHQHWLFDOO\ PRGLÀHG food, Nigeria needs to do so too without exceptions.

Dr. Olubiyi is an Entrepreneurship & Business Management expert

Global leaders must keep their cool and try to resolve issues peacefully, writes RAJENDRA ANEJA

THE WORLD MUST UNITE TO STOP THE UKRAINIAN WAR The war in Ukraine continues its inhuman and tragic trajectory. Children, women and soldiers DUH G\LQJ 7KH UHIXJHHV DUH ÁRZLQJ RXW RI 8NUDLQH like a swollen river. Four million people have ÁHG DV UHIXJHHV +RZHYHU PLOOLRQ 8NUDLQLDQV are yet at home bearing the brunt of the missiles.

Homes, buildings, schools, hospitals, shopping malls, are being razed to the ground. Generations of younger people across the world had not seen the devastation that a war can wreak, except in World War II movies. Now we see pain, ruin and anguish on our televisions, round the clock.

We are confronted with the dire possibility of a QXFOHDU FRQÁDJUDWLRQ 7KHUH FDQ EH QR YLFWRUV LQ a nuclear combat. The last time the world came close to a nuclear World War was in October 1962, during the Cuba missile crisis. President John Kennedy had quarantined all shipments to Cuba and asked Soviet First Secretary Mr. Nikita Khrushchev to remove Soviet missiles from Cuba. Fortunately, good sense prevailed on all sides. Russia removed its missiles from Cuba and the USA removed its missiles from Turkey.

Now, Russia has categorically asserted that it will resort to nuclear weapons, if it perceives an existential threat. This statement has shell-

proxy war between NATO and Russia. The Ukraine war should not become a struggle between the superpowers, that is, Russia and the USA, fought on Ukrainian soil, using Ukrainian soldiers and pillorying Ukrainian citizens as battering rams.

Nor should Ukraine become an ideological battle ground between the pro-democracy western nations and the erstwhile communist countries like Russia and China. The Ukraine war should not become a battle for superpower supremacy. Unfortunately, Ukraine will lose the most and will be crippled on this political chessboard.

The world is not on the same page on the Ukraine war. As the Financial Times (24 0DUFK SRLQWHG RXW ´1RW IRU WKH ÀUVW time, the west is mistaking its own unity for a global consensus. One misleading measure is at the UN. In the organisation’s last tally earlier this month, 141 of 193-member states condemned Vladimir Putin’s blatant violation of international law. But the 35 that abstained account for almost half the world’s population. That includes China, India, Vietnam, Iraq and South Africa. If you add those that voted with Russia, it comes to more than half.”

President Biden should Painting the war in ideological colours, as D ÀJKW EHWZHHQ GHPRFUDF\ DQG ROLJDUFKLHV play the role of an elder RU GHVSRWLVP ZLOO RQO\ DGG IXHO WR ÀUH 6LJQLÀFDQWO\ PDQ\ RI WKH IRUPHU FRPPXQLVW statesman in this conflict. like Russia, China, Vietnam, As one of the tallest leaders countries have followed pragmatic, pro-capitalist polices from the 1990s in capital formation, of the world, he should monetary policy and international trade. refrain from taking sides in There is no iron economic curtain between western and the former communist this conflict. President Biden the countries. So, there is no need, to drumbeat ideological victories. should be the peacemaker.

A protracted war in Ukraine, will have And, the peacemakers are UDPLÀFDWLRQV DFURVV FRXQWULHV LQFOXGLQJ RQ the prices of oil, raw materials, commodities always blessed and supply chains. We live in a globally interdependent world now. Events in any part of the world, have an immediate and shocked the whole world. The fact is, that never cascading impact on all parts of the world. before, has the world been closer to another Global leaders must keep their cool and try World War, as of now. to resolve issues peacefully. This is the essence Mr. Volodymyr Zelenskyy, the President of of leadership. President Biden should bring Ukraine has publicly stated that the country will Russia and Ukraine to a conference table not join NATO. President Putin should relent in and help them to resolve issues cordially.

WKH ZDU HͿRUW +H FDQ VHHN DSSURSULDWH JXDUDQWHHV He visited Poland. He could have stopped from Ukraine, including a parliamentary at Moscow also, to persuade Mr. Putin to endorsement. After that, he should recall his end the war. Calling President Putin, a war troops. criminal or a butcher, is not going to create an The Ukraine war is now being increasingly environment for talks or peace. perceived as a West versus Russian engagement.

The conscience of mankind is being Ukraine is being condensed to a proxy sheared. Yet, there is no concerted endeavour battleground between NATO and Russia. Going by leaders of various nations to forge a team by the ferocity and frequency of NATO and to visit Ukraine and Russia, to talk to the western reprimands of Russia, it would appear warring sides and negotiate a settlement. that it is them battling Russia, not Ukraine. An It would be useful if the Western group of observer of the war commented, “Going by the QDWLRQV IRFXVHG RQ HQVXULQJ D FHDVHÀUH bonhomie of the NATO nations at Brussels on the rather than taking sides in this ugly battle.

24 March, it appeared that they were bonding at We need to realise that the Ukraine war D ÀHVWD WKHUH ZDV QR VHULRXVQHVV &RQVLGHULQJ is not a game-exercise. It is a rotten, bloody the number of the dead and displaced in Ukraine battle. People are dying. Women are turning DQG 5XVVLD D PRUH VRPEHU PRRG ZDV H[SHFWHG into widows. Children are becoming orphans. perhaps, even a minute of silence for those who We cannot be cavalier about human life. have lost lives in this dastardly war.”

President Biden should play the role of an If the war continues for some more months, HOGHU VWDWHVPDQ LQ WKLV FRQÁLFW $V RQH RI WKH Ukraine is in danger of becoming another tallest leaders of the world, he should refrain Vietnam. In the Vietnam war, whilst American IURP WDNLQJ VLGHV LQ WKLV FRQÁLFW 3UHVLGHQW troops fought on the ground, the Viet Cong had Biden should be the peacemaker. And, the the support of other Communist nations like peacemakers are always blessed.

China and the USSR. In the Ukraine war, Russia LV ÀJKWLQJ XSIURQW +RZHYHU DOO WKH 1$72 Aneja countries are suppling missiles and equipment was the Managing Director of Unilever to Ukraine, whilst refraining from direct Tanzania. He is an alumnus of Harvard Business engagement. So, Ukraine is de facto becoming a School, and a Management Consultant

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T H I S D AY MONDAY MARCH 28, 2022

EDITORIAL

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

ASUU AND PUBLIC UNIVERSITIES ASUU should look beyond a sorely disappointing government

T

he federal government may, now, not be able to release the volume of funds needed to service its agreement with the Academic 6WDͿ 8QLRQ RI 8QLYHUVLWLHV $688 WKDW ODVW week extended its current nationwide strike E\ HLJKW ZHHNV %XW WKH KXJH WUXVW GHÀFLW that exists between them and the protracted argument about the appropriate salary payment platform have pushed farther any prospect for peace and resolution of this unfortunate crisis. The last nationwide strike lasted almost one calendar year. With politics now taking the centre-stage in the prelude to the 2023 general election, this warning strike could HDVLO\ EHFRPH LQGHÀQLWH We urge the federal government to consider the implications on the future of our country.

These strikes have FRQWULEXWHG VLJQLÀFDQWO\ to the decline in the quality of graduates of our public universities. The hurried academic calendars allow for little attention to serious studies. That is why our public universities have continued to go down the ladder of academic ranking, even among their peers in Africa. But we understand WKH SRLQW EHLQJ PDGH E\ $688 HYHQ LI ZH GRQ·W DJUHH ZLWK WKHLU PHWKRG 8QGHU IXQGLQJ WKH HGXFDWLRQ VHFWRU RYHU WKH \HDUV KDV KDG FROODWHUDO GDPDJLQJ HͿHFWV RQ the country, such that our universities have now become grotesque carcasses of their former glorious selves. But the lecturers are part of the problem: Commercialisation of academic grades and poorly written handouts, delayed dissertation, award of questionable degrees and all manner of unwholesome practices have combined to practically ruin university education in Nigeria.

7KH ZHDN ÀQDQFLDO FRQGLWLRQV LQ WKH XQLYHUVLWLHV DUH exacerbated by the current crippling economic crisis D΁LFWLQJ WKH QDWLRQ <HW EHVLGHV SHUVRQQHO FRVWV IXQGV are required to rehabilitate dilapidated facilities, purchase consumables and aid research. However, dealing with the challenge of thin liquidity requires more than seasonal strikes by both the academic and non-academic VWDͿ ZKLOH WKH IHGHUDO JRYHUQPHQW PXVW DOVR XQGHUVWDQG

the primacy of constant dialogue, especially given the FXUUHQW UHDOLWLHV ,JQRULQJ RU EODFNPDLOLQJ $688 ZLOO not resolve the problem, but the lecturers must also be realistic in their demands.

While we support the clamour for increased funding, we nonetheless think that given the dwindling resources of government, the tertiary institutions need to think out RI WKH ER[ DQG ÀQG PRUH FUHDWLYH VROXWLRQV WR WKH SUREOHP Elsewhere, universities have explored several ways of raising money to fund their operations. In this regard, ours need not reinvent the wheel. The common avenues include donations, endowments, professional chairs, gifts, grants, and consultancy services. We note that many of our universities have embarked on these, but their performance needs to be stepped up. Clearly, much more work must be done to shore up internally generated revenue to wean the universities of their virtual total dependence on government funding. More importantly, the administrators also need to manage their resources prudently and transparently. Part of the challenge in several cases has been misappropriation of funds kept in their care.

2YHUDOO ZH PXVW ÀQG EHWWHU ZD\V RI À[LQJ WKH XQLYHUVLW\ V\VWHP EURNHQ ÀQDQFH LQ 1LJHULD 7KLV LV HVVHQWLDO WR UHVROYLQJ WKHLU SHUSHWXDO ÀQDQFLDO FULVLV DQG to ensure that our graduates compete globally in the knowledge world. As a way of addressing the problems, we believe it is time these alternative sources of funding were devised. Government could help spread the risks DURXQG 7KHUH FRXOG EH ÀQDQFLDO DVVLVWDQFH IRU SRRU EXW bright students in form of scholarships and bursaries, but the issue of tuition must be addressed immediately. But we need the right policies that would provide alternative sources of funding, attract quality academic and nonDFDGHPLF VWDͿ SURYLGH QHFHVVDU\ WHDFKLQJ DLGV DQG ensure conducive learning environment for students. The best universities in the world attract the best academics and supply global employment market. But someone must bear the cost.

Ignoring or blackmailing ASUU will not resolve the problem, but the lecturers must also be realistic in their demands T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI THE OMBUDSMAN KAYODE KOMOLAFE

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

Letters to the Editor 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.

LETTERS KAGORO AND THE KNIVES OF TERROR Since the turn of the new millennium, residents of Kaduna State, Nigeria`s center of learning, have been forced to learn the hard way the true cost of being Nigerian, and being from a country where life JURZV FKHDSHU E\ WKH GD\ FKHDSHQHG E\ D FRQÁXHQFH RI IDFWRUV WKDW should ordinarily have no place in any serious civilization.

For residents of Southern Kaduna especially, the horrors have been all too real. People have been cut down in their thousands even as homes have been razed to send one of Nigeria`s most iconic states spinning on the tail of credible allegations of ethnic cleansing and religiously motivated killings.

The knives recently descended on Kagoro, a community in Kaura Local Government Area of Kaduna State, when gunmen armed with sophisticated weapons and an insatiable bloodlust pounced, killed about 34 people, razed over 200 houses, 32 shops and vandalized about three vehicles and 17 motorcycles. The dead also included two military personnel. These savage attacks happened on Sunday March DQG ÀQJHUV KDYH VLQFH EHHQ SRLQWHG DW )XODQL KHUGVPHQ ZKR were supposedly on a mission to avenge the death of a herder and 30 cows as well as the burning of about four motorcycles just days before the attack.

Why do these attacks keep occurring in Kaduna State? What exactly has so shattered the peace of the state that residents can no longer

sleep with their two eyes closed?

It is not just the attacks within the state that frighten. The KadunaAbuja expressway has recently become a conveyor belt for bandits who have also sculpted a specialty out of attacking schools in the state and abducting students for ransom.

To be sure, the Kagoro killings were not isolated incidents. Every QRZ DQG WKHQ GLVWXUEDQFHV EUHDN RXW LQ GLͿHUHQW SDUWV RI WKH VWDWH DV GLͿHUHQW FRQÁLFWLQJ LQWHUHVWV KDYH FODVKHG That nothing substantial and sustainable has been done for many \HDUV WR VWHP WKH ÁRZ RI EORRG WKDW KDV EHHQ ÁRZLQJ WKLFNO\ LQ WKH state at the hands of criminal elements continues to reduce the entire security architecture in the state, and by extension, Nigeria, to dust.

The reality is that one of Nigeria`s most iconic states continues to harvest deaths and other vile criminal activities almost every week and no serious measures have been or are being taken to stop the surge. The government must do more. Both the state and the federal JRYHUQPHQWV PXVW GR PRUH IRU WKH ORQJ VXͿHULQJ SHRSOH RI 6RXWKHUQ Kaduna. It appears there are people within the state whose occupation and preoccupation it has become to perpetrate and perpetuate WHUURU LQ WKH VWDWH 7KRVH ZKR GR WKHVH PXVW EH ÀVKHG RXW Kene Obiezu, keneobiezu@gmail.com

IN PRAISE OF ABBASS MASANAWA 'HVSLWH DOO WKH FKDOOHQJHV 0U $EEDVV 8PDU 0DVDQDZD KDV ZHDWKHUHG WKH VWRUP and positioned the Nigerian Security Printing and Minting Company in ways that are unprecedented. There is no better way to describe Mr.Masanawa than a cat with QLQH OLYHV ZKR LV GHWHUPLQHG DJDLQVW DOO RGGV WR PDNH D GHVLUHG GLͿHUHQFH 6LQFH KH DVVXPHG R΀FH DV WKH PDQDJLQJ GLUHFWRU KH KDV GHPRQVWUDWHG GHWHUPLQDWLRQ DQG YLsion -_two key instruments needed to sanitize the NSPM. He fashions out development initiatives that can make the Nigerian security printing compete with its counterparts around the world. He has championed several capacity development programmes for the organisation.

He has impacted on his people in Kastina State in no small measure. In the area of education, he gave free exercise books, mathematical sets, uniform and sandals to pupils in the public schools in Kastina state and evirons. He has provided boreholes, street lights, potable water as well as cash donations to widows, among other people-oriented programmes. He has empowered youths in the state with the donation of tricycles, bicycles and other valuable materials. In the area of advocacy, he organized series of seminars for the youths aimed at encouraging them to shun violence and embrace peace, having made them to understand that only in the environment of peace and harmony would there be meaningful development. As the political train moves to the 2023 general election, there are calls from several people for Mr. Masanawa to contest the governorship poll. We wish him well. He has paid his dues.

Anjorin Adeolu, anjorin.adeolu@yahoo.com

MONDAY MARCH 28, 2022 • T H I S D AY

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This Week In Tech Tech Top 5 News 08097710984

CANCER DETECTION SMART BRA BUILT IN NIGERIA Smart bra device has been built for the early detection of breast cancer.

Nigerian robotics engineer, Kemisola Bolarinwa, with a team of researchers at Nextwear Technology, stated that the prototype contains small ultrasound sensors that scan the breasts and reveal any tumour’s location.

The bra is lined with battery-operated ultrasound sensors, which is synced with a mobile or web application and have been programmed to show the results if the tumour is benign (harmless) or malignant (harmful).

She further explained that the technology would help reduce the number of women who lose their lives to breast cancer.

She added that the smart bra device would be of great advantage to Nigeria and Africa as a whole.

The researchers hoped that the device could improve breast cancer diagnosis in sub-Saharan Africa, where women undergo long processes to access screening services.

While speaking to SciDev.Net, Bolarinwa stated that her inspiration to create the device came from the need to save the lives of women and girls affected by breast cancer.

She further stressed that the smart bra must be worn on the breasts for a maximum of 30 minutes for the result to show.

The app also has an interface to transmit the result to a doctor.

While women currently have to go to the doctor to be screened for breast cancer, they could use the device safely from the comfort of their homes and results can be transmitted to a doctor.

A

GOOGLE INTERNET CABLE ENTERS AFRICA TO IMPROVE CONNECTIVITY An undersea internet cable owned

by Google has arrived in Lomé, Togo.

The massive fibre optic cable will be Google’s first to run from Africa to Europe and is expected to bring internet connectivity to millions of people across both continents.

In a joint statement, the Togolese government and Google said the ‘Equiano cable’, named after Nigerian-born writer and abolitionist Olaudah Equiano, would create improved high-speed and affordable internet access to millions of people in Togo and West Africa.

The cable is also set to have landings in Nigeria and Namibia before a final landing in Cape Town, South Africa. It is expected to be fully in service later this year.

Google, which first announced the project in 2019, has said the cable would have about 20 times more network capacity than a previous cable built to serve this region. It is the company’s third private international underwater cable and first in Africa.

Togo will be the first to benefit and the cable is expected to reduce internet prices by 14 per cent by 2025, according to an Africa Practice and Genesis Analytics assessment commissioned by Google.

FACTSPACE WEST AFRICA PARTNERS AW FREE FOUNDATION TO TACKLE MISINFORMATION One of the leading fact-checking organisations in Africa, FactSpace West Africa, has partnered AfricaWeb (AW) Free Foundation to expand the fight against misinformation, disinformation,

nosakhare.alekhuogie@thisdaylive.com

Nosa

Alekhuogie

Tech Personality of The Week SIM SHAGAYA

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his week’s tech personality is the Founder and Chief Executive Officer of uLesson Education Limited, Sim Shagaya.

Shagaya is a Nigerian media and technology entrepreneur. He is the founder and former CEO of one of West Africa’s largest electronic commerce website Konga.com and founder of E-Motion Advertising, a leading outof-home media company acquired in 2019 by Loatsad Media.

The uLesson app was built to make education available to learners across Africa and offer students in the primary, junior and senior secondary school a holistic learning experience and those preparing for WASSCE, JAMB, NECO, and GCE Exams.

Students can access lessons via streaming or use the Secure Digital (SD) cards to download and store the content. This allows the students to study remotely, removing challenges around internet access limitations and costs.

In 2014, he was named in Forbes’ list of ‘10 Most Powerful Men in Africa’.

Sim Shagaya has always been tied to digital innovation as a technology industry veteran. He began his career consulting for digital media and online retail companies, brokering investments in Nigerian telecoms, and leading Google into sub-Saharan Africa.

fake news and propaganda in Africa.

In a joint statement by the companies, the partnership seeks to leverage AW’s reach of 4 million multilingual visitors per month across three regions of Africa and its wide network of multilingual journalists to verify, fact-check and widely publish verified information in multiple languages across Africa.

FactSpace West Africa and AW platforms across West, Central and East Africa would introduce newly developed digital features that would, among others, rate the accuracy of the information, including claims by public officials, institutions, etc.

According to the Director and Managing Editor, FactSpace West Africa, Rabiu Alhassan, the collaboration seeks to ensure millions of Africans online get access to verified information while ensuring purveyors of misinformation are held accountable.

Among other activities, FactSpace West Africa and AW Free Foundation would organise fact-checking training for journalists, whistleblowers, CSOs and the general public to develop their fact-checking skills.

“In sub-Saharan Africa, journalists and whistleblowers’ exposure to misinformation and disinformation, if left unaddressed, could further undermine the precarious foothold of independent media on the continent,” Alhassan said.

RUSSIA LAUNCHES INSTAGRAM CLONE, ROSSGRAM FOLLOWING

BAN Today, Russian developers launched an Instagram clone called Rossgram after the well-known American photo-sharing app was banned in the country.

The social network developed by Alexander Zobov and Kirill Filimonvo looks similar in design to Instagram, right down to the logo colours going by pictures on its site.

According to a statement on its website, this new social network has a familiar and understandable interface, rich features, and simple working conditions.

The Russian analogue of Instagram will be launched with familiar functionality and mobile applications for Android and iOS. It will also have additional monetisation tools for users, paid access to content, crowdfunding function, referral program, etc. Access will be open first to investors, sponsors, and the media, before opening to bloggers and other users in April 2022.

Russia banned the Instagram app on March 14, following the country’s move to declare the platform’s parent company, Meta, an “extremist organisation” under Russian law.

THRIVEAGRIC RAISES $56.4M TO BOOST FOOD SECURITY A technology-driven agricultural company, ThriveAgric, has raised $56.4 million in debt funding from local commercial banks and institutional investors.

The Nigerian-based startup also

raised a co-investment grant of $1.75 million from the USAID-funded West Africa Trade & Investment (Trade Hub).

According to the company, this is to boost food security across Nigeria.

Trade Hub is a USAID-funded initiative to co-invest with the private sector to generate new private investment, create new jobs, and increase the value of regional and international exports in West Africa.

ThriveAgric empowers farmers in Nigeria to sell their products to Fast-moving consumer goods (FMCGs) and food processors, leveraging its proprietary technology to access finance and improve productivity and sales to promote food security.

The technology, an agricultural operating system (AOS), works entirely offline, dispatches USSD to farmers, and powers Android apps used by field agents to help digitally collate creditworthy farmers and gather relevant farm data.

The company supports Africa’s agriculture sector by assisting over 140,000 smallholder farmers in producing high-quality grains.

Harvests, including maize, rice and soybeans, are stored in many of the company’s 450+ warehouses in Bauchi, Jigawa, Kaduna, Kano and Katsina before being commoditised and offered to local and global trade markets at a premium price.

This project is expected to create 1,000 jobs for others involved in the agricultural value chain, including warehouse managers.

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T H I S D AY ˾ MONDAY, MARCH 28, 2022

HOMES&DESIGN CIVIC CENTRE TOWERS:

Glitters, Warms Victoria Island Skyline

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HOMES&DESIGN

The Inspiring Spire in Lagos Skyline The Civic Centre Towers is a 16-floor office building with an unmistakable spire. In daylight, the highrise glows, exudes deep blue colour and at other times a shade of blue. Bennett Oghifo writes

T

he glass and aluminium facade of the Civic Centre Towers gives it a magical feel of one solid monument that keeps heads turning and eyes fixed on it.

It stands tall and firmly rooted on a choice part of the very popular Ozumba Mbadiwe Avenue, Victoria Island, Lagos, where high profile developments nestle. It faces Adetokunbo Ademola road, which hosts the 1004 Estate and other landmark buildings.

This iconic building is located next to an equally sturdy sister facility called the Civic Centre, complete with a boat club

and where upscale events are held.

The Civic Centre Towers, a facility for strictly blue-chip companies, was officially opened for use in 2015.

On July 20, 2018, the Civic Centre Towers and the Civic Centre were lit up in red to mark the 50th anniversary of the Special Olympics alongside 225 iconic landmarks across the world.

The tower is an office development established in one of the best locations for prime office facilities. It is right beside Falomo, which means great access to Ikoyi, which can also be accessed directly by boat. It is also

near Lagos Island and the mainland, and it is in the middle of Ozumba Mbadiwe Road, which means great access to Victoria Island and Lekki Epe Express.

The building is believed to be fully occupied with tenants, including Deloitte, acting as the anchor for the project.

Spread out over 15 floors, it will provide up to 8,096sqm of prime lettable office space with individual floor spaces ranging from 342sqm to 682sqm. The tower is surrounded by many amenities, including the

Oriental Hotel, a helipad, Radisson Blu Hotel, Four Points Hotel, a jetty, and other prominent developments like The Wings.

The developer, Quantum Luxury Properties (QLP), which Jim Ovia chairs, is a real estate investment company focused on making proprietary real estate investments in West Africa. According to the firm, the Civic Centre Towers is owned by Quantum Capital Partners (QCP), a generalist private equity firm focused on investing primarily in West Africa, with selective consideration for wider sub-Saharan Africa investments.

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BUSINESSSPECIAL

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

Zenith Bank: Beating Market Expectations

Zenith Bank under the leadership of Ebenezer Onyeagwu has continued to churn out positive results as can be seen from its recently released full year 2021 financial statement, writes Dike Onwuamaeze

Z

enith Bank Plc recently announced its financial results for the year ended December 31, 2021, showing impressive performance despite a challenging macroeconomic environment aggravated by the coronavirus (COVID-19) pandemic.

The bank recorded a double-digit growth of 10 per cent in gross earnings which rose to N765.6 billion from N696.5 billion reported in the previous year.

According to the bank’s audited financial results for the 2021 financial year presented to the Nigerian Exchange Group (NGX), the Group achieved 10 per cent year-onyear (YoY) growth in gross earnings on the back of 23 per cent YoY growth in non-interest income from N251.7 billion to N309 billion and a two per cent YoY growth in interest income from N420.8 billion to N427.6 billion.

Also, Zenith Bank’s profit before tax (PBT) grew by 10 per cent from N255.9 billion to N280.4 billion in the current year under review. The increase in PBT was due to growth in the bank’s top-line and very strong management of the treasury portfolio that increased efficiency, resulting in a drop in interest expense by 12 per cent from N121.1 billion in 2020 to N106.8 billion in the year under review. This further led to a seven per cent increase in net interest income of N320.8 billion in 2021, from N299.7 billion in 2020.

Its customer deposits increased by 21 per cent, growing from N5.34 trillion in the previous year to N6.47 trillion in 2021.

The growth in customer deposits came from both corporate and retail customers.

For instance, while retail deposits grew by N146 billion from N1.72 trillion in 2020 to N1.87 trillion in 2021.

The Group’s continuous drive for retail deposits combined with the strategic rebalancing of its funding base helped to reduce the cost of funding from 2.1 per cent to 1.5 per cent in the current year.

Although operating expenses grew by 13 per cent YoY, growth remained below the inflation rate, and the Group improved its Earnings per Share (EPS) which grew by six per cent from N7.34 to N7.78.

In addition, Zenith Bank’s total assets also increased by 11 per cent, growing from N8.48 trillion in 2020 to N9.45 trillion in 2021, mainly driven by growth in customer deposits. With the steady recovery in economic activities, the Group prudently grew its gross loans by 20 per cent, from N2.9 trillion in 2020 to N3.5 trillion in 2021, with moderated non-performing loan (NPL) ratio from 4.29 per cent to 4.19 per cent YoY. Furthermore, the results showed that the Group recorded impressive liquidity and capital adequacy ratios of 71.6 per cent and 21 per cent, which remained above regulatory thresholds of 30 per cent and 15 per cent respectively.

In 2022, the Group intends to consolidate on the gains achieved in the previous year in all business segments and combine leadership in the industry, innovation and technology to drive improved performance and deliver enhanced returns to all stakeholders.

As a testament to its commitment to its shareholders, the bank has announced a proposed final dividend pay-out of N2.80 per share, bringing the total dividend to N3.10 per share.

Rated on key parameters such as asset quality, profitability and return to investors, Zenith Bank’s track record has remained impressive as an industry leader.

In addition, the bank places a premium on its core business strategy anchored

Onyeagwu

on people, technology and service, to create value for its numerous clientele.

Zenith Bank has continued to distinguish itself in the Nigerian financial services industry through superior service offerings, unique customer experience and sound financial indices.

The bank remains a clear leader in the digital space with several firsts in deploying innovative products, solutions and an assortment of alternative channels that ensure convenience, speed and safety of transactions.

The bank has been making significant progress in its retail banking drive, as evidenced by remarkable growth in transaction volumes and value across its digital platforms and strong growth in customer acquisition.

Also, as part of efforts to entrench itself in the retail segment of the market, the bank recently re-introduced its Zenith Bank Beta Life Promo Season 2. The initiative is a bi-weekly raffle promo wherein the bank would give gifts worth N150,000 each to 20 customers from February 1, 2022 to January 31, 2023. The raffle draws hold on the second and fourth Friday of each month.

To qualify, customers are expected to simply open a Zenith Bank account; fund the account with a minimum of N5,000 for the period; request and collect a Zenith Bank Debit Card (virtual or physical).

The promo is open to new and existing Zenith Bank customers that maintain a minimum deposit of N5,000 for the period; request and collect a Zenith Bank Debit Card (virtual or

physical) and download and register on the Zenith Bank Mobile App or register for *966# EazyBanking.

“If you do not have a current or savings account with us, or have a dormant or zero balance account, this is the best time to open an account, fund or reactivate your account to win exciting rewards every week.

Rewards will be allocated to the winning accounts chosen via raffle draw by our computer program designed specifically for the purpose of the Promotion.

“The random selection and allocation of Prizes to the respective Winning Customers will be verified by external auditors. Customers must maintain an active account with N5000, get a card and register for USSD or download the mobile app to become a winner. You can open an account by just dialing *966# on your phone and following the prompts, or you can open an account on our website,” the bank stated.

This is possible. However, you are encouraged to make additional deposits in subsequent weeks.

The savings promo is one out of the numerous introduced by the Group Managing Director/Chief Executive Officer of Zenith Bank, Mr. Ebenezer Onyeagwu to ensure the financial institution retains its leadership position in the industry.

This followed its recent introduction of an Artificial Intelligence (AI) powered Chatbot on WhatsApp named ZIVA (Zenith Intelligent Virtual Assistant), which enables customers to perform financial transactions and enjoy realtime customer service from their mobile

phones.

With this solution, customers would be able to enroll by simply adding the bank’s verified WhatsApp mobile number 07040004422 on their mobile devices, agree to the legal terms of use and then initiate a conversation.

This product provides the convenience for the bank’s customers to interact and transact on a 24 hours basis on the encrypted WhatsApp platform, it added.

The bank further explained that with the capability to respond to chats/queries anchored on the existing WhatsApp platform, customers would be able to open new accounts, receive instant transaction notifications, check their balances on the go, transfer funds and top up airtime. They would also be able to confirm cheques, pay bills, apply for loans, block their accounts, and request mini statements, amongst other banking services.

Commenting on the AI banking solution, Onyeagwu said: “The launch of ZIVA is driven by the need for additional secured channels of communication with our customers as we deepen our retail penetration.”

Speaking further on the WhatsApp chatbot, Onyeagwu noted that, “since the behavioural pattern of the modern customer dictates that they want to engage with brands over the channel of their choice, it was really important for us as a leading financial services institution and a pioneer of several technological innovations in the financial services industry to implement this solution in order to continue to create value for our teeming customers who incidentally were already using WhatsApp as a primary channel of communication.”

Onyeagwu is a vastly experienced banker and financial expert who has trained in reputable institutions of learning in Nigeria, the United Kingdom and United States of America. An accounting graduate from Auchi Polytechnic where he obtained the Ordinary National diploma in 1984 and Higher National Diploma in 1987, Onyeagwu qualified as a Chartered Accountant in 1989 while he was still undergoing the compulsory National Youth Service Corp (NYSC) and was named a Fellow of the Institute of Chartered Accountants of Nigeria (FCA) in 2003. He is an alumnus of the prestigious University of Oxford, England, from where he obtained a Postgraduate Diploma in Financial Strategy, and certificate in Macroeconomics. He also undertook extensive executive level business education in Wharton Business School of the University of Pennsylvania, Columbia Business School of Columbia University, the Harvard Business School of Harvard University (all in the United States) and Lagos Business School of the Pan African University, Nigeria.

Clearly, Zenith Bank’s commitment to world-class service standards has led to several product innovations, including the Zenith Timeless Account”, which allows Nigerians aged 60 years and above bank for free, the “Zenith Save4me a high-interest target savings account and the deployment of contactless payments and QR on ATM points, amongst others.

The bank has continued to distinguish itself in the Nigerian financial services industry through superior service offerings, unique customer experience and sound financial indices. It remains a clear leader in the digital space with several firsts in the deployment of innovative products, solutions and an assortment of alternative channels that ensure convenience, speed and safety of transactions.

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BUSINESS SPECIAL

INTERVIEW

Okpala: Fuel Subsidy Removal Should Be Done Gradually Nonso Okpala is the Group Managing Director/Chief Executive Officer, VFD Group, which is an industry-agnostic proprietary investment company with portfolio of over 40 businesses across different sectors and geographies, creating innovative products and solutions for the African market. In this interview, he speaks about certain issues on the economy. Excerpts: 5IF GFEFSBM HPWFSONFOU SFDFOUMZ EFGFSSFE UIF JNQMFNFOUBUJPO PG UIF 1FUSPMFVN *OEVTUSZ "DU XIJDI XBT EFTDSJCFE BT B HBNF DIBOHFS GPS UIF FDPOPNZ XIBU JT ZPVS UBLF PO UIBU t is a necessary step that needs to be taken and we will only be able to defer it for so long. Eventually, actions must be taken.

In your opinion, how best do you think the fuel subsidy conundrum can be resolved?

Firstly, it is not one that can be solved easily, and it should be treated that way. The ideal situation would be a complete removal of the subsidy considering the cost implications on the economy and already thin government revenues.

However, the implication on the average Nigerian is bound to be more telling than imagined and should be considered too. A gradual removal would do well to ease Nigerians into the cost implications of the decision.

I

8JUI UIF DPVOUSZ HSBEVBMMZ FOUFSJOH BO FMFDUJPOFFSJOH TFBTPO XIBU BEWJDF XJMM ZPV HJWF QPMJDZNBLFST UP FOTVSF UIBU UIF FDPOPNZ EPFTO U TVGGFS With the current situation of things, policymakers will do well to keep an eye on the macroeconomic indicators, particularly inflation which is set to remain on the rise in the coming months. Unless measures are put in place to cushion the effects of the drivers and drags of inflation and other variables, the economy will likely suffer.

8IBU BSF UIF LFZ ESJWFST PG UIF TUSPOH

performance of the market has slowed down just as corporate announcements have slowed. In January when there was a flurry of activities, the ASI returned over 9%. By February, market return had slowed to sub 2% and MtD return currently stands at just +0.07%.

as at end of January 2022.

8IBU BSF UIF FYQFDUBUJPOT GSPN 7'% (SPVQ JO Currently we are building Africa’s first truly diverse business ecosystem. Looking ahead, one of our key aspirations is to be a global proprietary investment firm listed on one of )PX DBO UIF QPTJUJWF USFOE JO UIF TUPDL the world’s leading exchanges, and we are NBSLFU CF TVTUBJOFE already in the process of building this. This Sustaining the positive trend in the market year, we are focusing on expansion along key will be a tall order given that the key drivers strategic pillars. We will be deepening our of market activity are either waning or non- Energy and Power Sector play with additional existent even. From what we have witnessed investments, while we also seek to expand our so far this year, only corporate actions have African footprint with cross border expansion impacted the market positively and that trend into new markets. Another critical outlook for will probably remain so in the near term. the year is to support our portfolio companies’ expansion plans for increased contribution to $BO ZPV UFMM VT BCPVU ZPVS EJHJUBM CBOL the bottom-line 7 CBOL BOE IPX JU JT EPJOH JO UIF NBSLFU We have designed a roadmap to take us there, In 2019 we launched the Vbank app, a with industry and cross boarder expansion plans fully digital bank that offers a wide range of staggered along the way, and I am positive financial products and services to professionals that given our trajectory and the support of and entrepreneurs across all sectors. Some our stakeholders, we will achieve this. of its features includes proximity payments, advanced & smart budgeting, debit card 5IF PUIFS UJNF ZPV TBJE ZPV XFSF BJNJOH management, QR Code, recurring transactions, BU PCUBJOJOH B DPNNFSDJBM CBOLJOH MJDFOTF Okpala among others.

8IFSF BSF ZPV PO UIBU SBMMZ XF IBWF TFFO JO UIF TUPDL NBSLFU There has been remarkable growth across Our aspiration for a commercial banking TJODF UIJT ZFBS key metrics and impressive feedbacks via user license remains in the works. We are actively Corporate actions on some of the large ratings and reviews on the app stores. We have engaging key stakeholders to map out the cap stocks in the market have been key to recorded over 350,000 in registered customers, best way of achieving this. We are considering the performance of the market so far in over N8.75bn in customer deposits, monthly the most efficient option to execute this and the year and is expected to a key driver of average transaction count and value has also we will keep our stakeholders abreast of market activities. Expectedly, the monthly grown by c.15000% and 2700% respectively developments.

BUSINESS SPECIAL

PERSPECTIVE

Fixed Income Funds and Potential for Healthy Investment Portfolios Oladele Sotubo

nvesting is a way to secure your plans for financial security now and in the future. There will be times when there is an economic downturn and rising inflation. In periods like this, you might want to make extra income to meet your medium to long-term financial goals.

However, the ever-increasing cost of living means that your savings alone is not enough.

These days, you need aggressive savings and smart investments to maintain your standard of living.

Your financial goal might be to diversify investments, secure a steady income, save for a future need, preserve principal or minimise taxes. Irrespective of what it is, you would need a fixed-income fund to achieve your financial goals. There are several investment options and the first step will be to choose a plan that suits your needs and helps you fulfil your financial goals.

Why You Need Fixed-Income Fund Fixed-income funds such as unrestricted low-risk mutual funds would help you preserve capital, secure a steady stream of income, and achieve your medium to long-term financial goals.

I

Sotubo

This investment instrument is a type of mutual fund investment. It is administered by a professional asset manager who pools together funds from you and other investors and invests them in the best investment interest of you and the

investors. It preserves your principal investment and provides regular income in the form of fixed interest payments.

This is a great investment tool if you’re looking to generate fixed income while still protecting your capital.

The best part about investing in a fixed-income fund is the benefits that you get, especially when you have a clear financial vision. Such a vision implies that you receive a steady income while maintaining a low-risk appetite.

The fixed-income funds are known to be less susceptible to macroeconomic risks, such as economic downturns or inflations.

They also allow you to diversify your portfolios.

When you invest in a diversified portfolio of fixed-income securities, you get to secure a more stable source of income than other high-risk-based investments. You would also help lower portfolio volatility over time.

Another benefit of the fund is that it allows you to preserve your capital, unlike other investment tools where it’s likely that you lose your capital. If you are looking to preserve your capital, fixed-income securities are a good place

to start investing.

Investing with the Right Partner The leading asset manager in Nigeria, Stanbic IBTC Asset Management, offers you quality financial advice on profitable investments. Stanbic IBTC Asset Management manages your investment risks by investing across a diverse range of assets thus avoiding concentration of risk.

Funds from the stable of Stanbic IBTC Asset Management are managed by a team of expert fund managers with experience in economic volatility and effective risk management who work to get you maximum returns on investment.

They manage the portfolio in a way that ensures the funds are adaptable and secured during economic changes.

With an investment in Stanbic IBTC fixed-income funds, you can continue to generate revenue despite market volatility or changes in the economic situation.

The Stanbic IBTC fixed-income fund is available on the Stanbic IBTC Mobile App and online platforms and you can make investments and manage your funds at your own convenience 24/7. t 4PUVCP JT UIF $IJFG &YFDVUJWF BU 4UBOCJD *#5$ "TTFU .BOBHFNFOU

Alliance Place Raises the Bar in Energy Savings, Employee Productivity Alliance Place office building in Lagos, Nigeria, has raised the bar in sustainable value delivery and enhanced workplace satisfaction for its broad range of environmentally conscious tenants.

Tenants at the eco-friendly office building at Ikoyi, including Mastercard and Selectium (Hewlett Packard Enterprises), report enhanced staff productivity, a reliable power supply, and a 30 percent reduction in energy bills.

A statement explained that Alliance Place, a signature green project of Africa Capital Alliance

(ACA), one of the leading drivers of sustainable office buildings in Nigeria, received final EDGE certification in September 2020, after achieving 23 per cent energy savings, 32 per cent water savings, and 22 per cent less embodied energy in materials.

Hewlett Packard Enterprises, operated by Selectium, believes that renting space at Alliance Place was a good choice that fits the company’s sustainability goals.

“We leased office space at Alliance Place because we wanted an eco-friendly work environment that has a reliable

power supply, is comfortable, and work-friendly. At many levels, we believe we made the right choice,” Ejike Onyenokporo of Hewlett Packard Enterprise said.

“We have seen a significant reduction in our energy bills of up to 30 percent. The well-ventilated spaces, lighting system, and general comfortable ambiance have contributed towards improved staff productivity and satisfaction,” he added.

Mastercard, an Alliance Place client since 2019, said the daylighting features of the office spaces positively impact employee

productivity by reducing eye strain and improving mood.

“Alliance Place stands out from other prime office buildings because despite being on a busy road, it is still serene as though the noise is filtered,” Eyinsan Towne, the facility coordinator, Mastercard said.

Alliance Place features a light and airy ground floor reception area and has seven floors of flexible office space. The office building uses resource-efficient design features and technologies to reduce its environmental impact and lower operating costs.

This includes a reduced window-to-wall ratio, higher thermal performance glass, a variable refrigerant flow (VRF) system, and energy-saving lighting. It also uses low-flow faucets and water-efficient water closets and urinals in all bathrooms to boost efficiency in water use.

Other features include in-situ reinforced concrete slab for the floor, steel sheets on steel rafters for the roof, solid, dense concrete blocks for internal and external walls, and plasterboards on metals studs for interior walls, while

aluminum profile cladding was used for exterior walls.

EDGE (Excellence in Design for Greater Efficiencies) is an innovation of the IFC, a member of the World Bank Group.

EDGE empowers developers of residential and commercial buildings to deliver resourceefficient buildings in a fast, easy, and affordable way. EDGE is a key part of IFC’s efforts to lead a sustainable future by encouraging construction developers worldwide to build a safer climate and currently in use in over 140 countries.

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MONDAY, MARCH 28, 2022 • T H I S D AY

MILESTONE

P h i l i p A ki n o l a @ 6 0 : A C i t i ze n S t i l l Passionate about Nigeria’s Transformation Celebrating six decades of his life on earth, clergyman and Acting Chief Operating Officer of Zenon Oil, Philip Akinola, has only one desire: to raise an army of Christians that will transform Nigeria, Vanessa Obioha writes

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his is the loveliest I have ever been celebrated,” said clergyman and Acting Chief Operating Officer of Zenon Oil, Philip Akinola, as a group of his colleagues came in with gifts on his 60th birthday. That was on March 9. From the expression on his face, it was evident that their presence and presents were unexpected. All he could mutter was “wow” and “thank you.”

Since he marked his birthday, Akinola has been inundated with gifts and goodwill messages. On March 12, he hosted friends, colleagues, family, and church members to an intimate celebration at the Redeemed Christian Church of God (RCCG) Peace Assembly parish in Victoria Island, Lagos.

The outpour of love for Zenon Oil COO, who heads the RCCG Potter’s House in Ebute Metta, was no different. One by one, friends, family and colleagues extolled him. They described him as a man of integrity, humility, dedication, hardworking and full of love for mankind.

Donning a blue attire and flanked by his wife, he was seen either nodding in agreement, smiling or laughing at what a speaker was saying. There were times he looked as if he was on the verge of tears, but the waterfalls were not flowing from a sorrowful source but one filled with happiness and gladness. It was no wonder that after the ceremony ended, Akinola danced as David danced to the melodious songs of the church’s choir.

As happy and contented Akinola appeared to be, it was unfathomable that he once was suicidal. When he confessed at the ceremony, not a few were stunned.

“It was the first time my siblings would hear about it,” he said.

The fifth child of his parents, Akinola recalled he was a sensitive and curious child. Although he was not born with a silver spoon in his mouth, he was well cared for. Therefore, he considered the suicidal thought g as a ploy p y of the enemy to derail him from his purpose. p p However, a sermon changed g his life.

“In church, I heard g with the lyrics y a song that Jesus loves little children like me. It g sounded strange because all I could y head was hear in my that I was unloved,” he recounted.

Today, y Akinola uses p his experience to draw p close to God. people “I believe that there is no life that God cannot change,”

L-R. Former Legal Adviser Nigerian National Petroleum Company NNPC, Dame Sena Anthony, Chairman STB Mccamn Lagos, Sir. Steve Omojafor, Celebrant Executive Manager Zenon Petroleum and Gas Limited, Pastor Philip Mosebolatun Akinola his wife Assistant Pastor, Mrs. Aderonke Akinola during Thanksgiving Church Service to mark 60th birthday of Pastor Philip Akinola held at RCCG Peace Assembly in Lagos… recently MUBO PETERS said Akinola. “We may have missed it in one way or the other, but then when we realise that we can get back on our feet and focus, g life, we will discover that desire a meaningful l y p i k up.” p” you can always pick Born in a small village g called d Il Ilora in Oyo o God’s G State, Akinola’s life is one full of grace.

He admitted that he wanted d a better life p His father was than his parents offered. H w a petty a farmer, and his motherr was trader. He recalled that they the couldn’t afford a radio or TV, but h he was w always children n’s programme p curious about the children’s on the radio at the timee and a wished he was as privileged p g as them. the So when his older sister sisteer ttook him to Osun to continue his p pr rim primary school education, Akinola did no not miss the familiar environment of IIlor Ilora.

“There was the temptatio p on tto run back temptation to my y mother, but in Osun, I h had friends that were more enlightened,” g ”h he noted.

The clergyman gy studie ed Sociology studied and Anthropology p g gy for his h Bachelor’s degree g and Industrial So Sociology for his master’s. He got g bo both degrees from the University y o of Ife (now known as Obafem mi Awolowo Obafemi University). y Today, y Akinola hass ov over 30 years of experience p in hum ma resources, human consulting g and ma anag g management.

He has consulted fo or companies for such as Agrov g vog g Limited, Agrovog Parker Drilling g Ni Nigeria Ltd., and Forte Oil. 1984 is si ign g significant to Akinola in m ma many ways.

Apart p from b bein being the year, he gained g ad dm admission into the unive ersi university.

It was the year y r h he became born-aga g born-again.

As a stud den he was student, committed to co om the vineyard of God o under the u Evangelical Christian Fellowship.

His faith did not waver when w he graduated from the fro om university y aand moved There, he was to Lagos. g Th involved in the actively in nvo

services of the New Realm Baptist Church, Ojo. Later, he joined RCCG in 2003. He has been with the church since then, serving in different capacities.

As a missionary, Akinola has been to many remote areas in the country, offering solace and the word of God. He reiterated that he deliberately chose to live a life of impact.

“I always tell my congregation that life is meaningless unless it is impacted. One area I have chosen to make an impact is sharing Christ with people and the dimension it could change their lives,” he explained.

He added that he believed so much in transformational ministry. This penchant for transformation led him to convene the Covenant Keepers Network (CKN), a group committed to righteousness, national development and social justice. The group kick-started the Congress on Christian Ethics in Nigeria (COCEN).

“It was during my consulting years in the 80s and 90s. Back then, you had to give bribes and all of that, and I was not into that.

Unknown to me, some people were watching me in church,” said Akinola explaining the genesis of the network and the congress. “So when I was told about COCEN, I abandoned all that I was doing to join the campaign.

We were so passionate about transforming the country.”

At first, COCEN was getting the right support as they spread through every nook and cranny of the country, raising men and women with Christian ethics and values. The mission was to raise an army of incorruptible leaders. Foundations such as the Rockefeller, Ford noticed them and threw their weight behind them.

“They saw that we were ready to cause a turnaround of events in the country,” he added. “I was moving all over the country, having meetings, and we were ready to start a mass grassroots mobilisation of people.”

One of the areas of concern for COCEN was how the custodians of Christendom had missed it.

“Commercialisation of the gospel was going on. For society, we had all the issues of examination practices, corruption in all the places and everything that you can talk about, and there are Christians there. And we were ready to say that we wanted to begin to hold ourselves accountable,” Akinola stressed.

“And people that wanted to stand for the truth, we were ready to support them. We were to galvanise ourselves and have that strength to be able to see what can be done to pull down the monster called corruption.”

CKN was so influential at the time that it drew the attention of former Head of State Gen. Yakubu Gowon.

“It was through the group that he started Nigeria Prays because he started his own like that, and they were moving with us each time we had a rally,” he recalled.

The first COCEN was held in 1997 in Abuja and had about 2,000 delegates from all over the country, with international observers also in attendance. However, COCEN could not go as far as Akinola wanted because of the sanctions the United States placed in Nigeria at the time.

With no grants coming in, Akinola found himself stranded. Again, his goodwill paved the way for him, and he bounced back to his feet.

While Akinola is active in his pastoral work, he is still concerned about the transformation of Nigeria. No one understands this better than the missionary Prof. Gary Maxey. In his message at the birthday celebration, Maxey stated that Akinola’s passion for Christian ethics in Nigeria has not subsided over the years.

“I am convinced that if Philip had the podium instead of me, he would be telling us that there has never been a time in the history of Nigeria when it was more important for us to individually and collectively arise and actively engage in facing down evil and corruption, in fighting bribery, examination malpractices and human trafficking, and in demanding justice and fairness in every nook and cranny of this country,” Maxey pointed out. “Philip does not believe — as many of us seem to — that the moral and ethical decadence around us is inevitable and beyond our control.”

Akinola affirmed that his assertion was right.

“Christianity has been bastardised. And this happened because there was a shift in the message on the pulpit, which is all about prosperity without looking into the tenets of Christianity,” he further noted. “We judge people now by their affluence. So the church has a problem, society has a problem too.”

He argued that as much as there are many retreats, he cannot see any impact because people return to their old selves when they leave the praying ground.

The paramount thing for Akinola now is to galvanise as many people as people who are willing to stand for the truth and work towards the country’s transformation.

“Christians need to rise. We cannot sit idle.

Evil triumphs when good people sit down and do nothing,” he warned. “If we can have the right kind of Christians in political leadership, there will be transparency in governance. The goal is now for us to encourage them to begin influencing their spheres of life.”

MONDAY MARCH 28, 2022 • T H I S D AY

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T H I S D AY ˾ MONDAY MARCH 28, 2022

42

CITYSTRINGS

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

Tackling Maritime Crimes in the Gulf of Guinea through Operation Obangame Twelve years into the exercise to collaboratively fight against piracy and all maritime crimes by the navies in the Gulf of Guinea, Nigeria has shown much commitment to the success of the safety of the nation's waterways. Blessing Ibunge, who covered this year's 2022 Operation OBANGAME EXPRESS, which had navies from over 32 countries, reports on the successes recorded

Chief of the Naval Staff, Vice Admiral Awwal Z Gambo; the Flag Officer Commanding Central Naval Command, Rear Admiral Idi Abbas; Principal Staff Officers from Naval Headquarters, Abuja, and officers from United State African Command, during the official flag-off of the 2022 Exercise OBANGAME EXPRESS

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n Friday March 11, 2022, there was an official flag-off ceremony of Exercise OBANGAME EXPRESS held onboard NNS Thunder. This year's exercise witnessed participants from about 32 countries onboard their various war ships within their country's area of responsibilities.

This year's exercise was hosted by Senegal, an African country.

The multinational maritime exercise, now in its twelveth year, was birthed on the need for Gulf of Guinea (GoG) navies and the Coastguards to cooperate for regional maritime safety and security in the furtherance of the Yaounde Code of Conduct.

The exercise was also designed to improve regional collaboration through joint operations and intelligence sharing, as well as harmonise legal frameworks to enhance the collective capabilities of GoG nation's against maritime crimes.

The exercise, from its inception in 2010, has grown in both complexity and in accomplishment.

Participating Nations Starting out with just nine participating nations in a centralised exercise, OBANGAME EXPRESS has now moved to de-centralised events with about 32 participating nations and about 100 individually evaluated events.

Participating nations include Angola, Belgium, Benin, Brazil, Cabo Verde, Cameroon, Canada, Cote d’Ivoire, Democratic Republic of Congo, Denmark, Equatorial Guinea, France, Gabon, Gambia, Ghana, Guinea, Guinea-Bissau, Italy, Liberia and Morocco.

Others are Namibia, Netherlands, Niger, Nigeria, Poland, Portugal, Republic of Congo, Sao Tome and Principe, Senegal, Sierra Leone, Togo, and the United States.

The significant part of this year's exercise was the presence of the US Coast Guard and Her Majesty Canadian Navy ships in the Exercise in Zone E and F respectively.

This development underscores the importance of Exercise OBANGAME EXPRESS in building requisite human capacity that would foster better understanding and burden sharing especially in a fast changing operating environment.

Inter-agency Collaboration Some of the related agencies that were observers during the exercise, include, Nigerian Customs Service, Nigerian Immigration Service, National Drug Law Enforcement Agency (NDLEA), Nigerian Air Force, Nigerian Police Force, Ministry of Justice, Economic and Financial Crimes Commission (EFCC), National Agency for the Prohibition of Trafficking in Persons (NAPTIP) and Nigeria Security and Civil Defence Corps (NSCDC).

Nigerian Navy's Commitment The exercise according to the Chief of Naval Staff, Vice Admiral Awwal Gambo, has positively impacted on the Nigerian Navy's readiness for

Wooden boat with illegally refined petroleum products apprehended during l Obangame Express exercise

rescue of man overboard, etc.

Meanwhile, the Nigerian Navy during the exercise, arrested two troika vessels carrying out illegal fishing within five nauctical miles along the GoG, a Cotonu wooden boat loaded with suspected illegally refined petroleum products, alongside seven suspects who were conveying the products.

Also, during the navy's operation within Bonny axis on Wednesday night, a tanker ship loaded with petroleum products was arrested alongside 13 suspects.

According to Olusanya Bankole, the Fleet Commander, Central Naval Command and Officer in Tactical Command of Exercise Obangame Express 2022, who spoke during the arrest, that the Cotonu Boat with seven suspects onboard Some of the suspects arrested by navy patrol during the exercise along Sam Brerio River were arrested along Sam Brerio River Mouth.

Bankole who also revealed that the vessels Mouth were apprehended within the Central Naval Command Area of Responsibility of Nigerian combat operation through training "According to United Nations Conference on Navy, disclosed that the tanker ship was arrested while exposing other maritime related Trade and Development (UNCTAD), the African in Bonny water.

He stressed that the crime committed by the agencies onboard to the benefits Continental Free Trade Area has the potentials of inter-agency cooperation and to boost Intra-African trade by 33 per cent and suspects was economic sabotage to the country, international collaboration. cut the continent's trade deficit by 51 per cent. assuring that the navy will continue to protect Recall that last year, the Interna"It is expedient that Gulf of Guinea nations the nation's wealth by stopping every illegal tional Maritime Bureau (IMB) and create a safe and secure maritime environment to businesses in the sea.

Bankole revealed "The exercise recorded Defence Web acknowledged the boost Maritime Trade and Commerce. It is thus significant reduction in piracy and envisaged that Nigeria and indeed the Nigerian some arrest; the navy arrested and handover to the concern agency for further investigation armed attacks against shipping in Navy provide a lead role in this regard.

"EXERCISE OBANGAME EXPRESS 2022 and possible prosecution. During our time at the GoG in 27 years. And recently, IMB report shows that Nigeria has presented that ample opportunity for the the sea we made four arrests, over 20 persons Nigerian Navy to work together with regional were arrested and they have been handed over exited the IMB piracy list.

THISDAY, who was onboard this and friendly foreign navies in the spirit of the to the prosecuting agencies".

The fleet commander stressed that in order for year's exercise, observed that the Yaounde Accord".

Gambo who appreciated the US Government Nigeria to maximise its effort, the Chief of Naval Nigerian Navy deployed 10 ships, two helicopters and maritime domain through the US Africa Command and other Staff approved the conduct of the exercise in the awareness assets, as well as elements international partners for facilitating and sustaining Central Naval Command Area of Responsibility.

Bankole explained "because the central Naval of the Special Boat Services (SBS) for the exercise over the years, said "the Nigerian Navy under my watch remains committed to Command has most of the offshore asset; Oil the exercise. eradicating act of criminality in the nation's and Gas asset and national strategic asset of the maritime domain and by extension the Gulf of Nigerian Navy, they are dominated in the central Flag-off Ceremony During the flag-off ceremony at Guinea for legitimate soci-economic activities to Naval Command area of responsibility.

"So our area of exercise covers the whole area the jetty in Onne, in Eleme Local thrive for the well-being of our people". of command area of responsibility and the fringes Government Area of Rivers, the Chief NNS Thunder and Achievements Recorded of the whole area of command and Eastern Naval of Naval Staff, Vice Admiral Awwal Command because alot of activities are going Gambo, noted that the major objectives during the Exercise Just as the exercise was ongoing, it was expected on. So the exercise basically is for training, for of the exercise was to improve security in the GoG and synergies between that the navy should also be on duty at its area synergy and for us to test our men.

"We have done many exercises on human of responsibility in the sea. The formation was GoG navies and allied friends.

"This year's exercise is particularly expected to deal with all forms of maritime crime, trafficking, drug trafficking, anti piracy, illegal, instructive considering the effort of ranging from human trafficking, drug trafficking, unreported and unregulated fishing. It's going our governments at operationalising oil theft (transporting illegal oil products), large to be days of active training in collaboration the African Continental Free Trade scale illegal fishing on the sea, sea pirates, arms with our friends from other agencies. But at the smuggling and arm trafficking, operation on same time as we are training, we are actually Agreement. on operation on patrol.

"Our Chief of Naval Staff has given a candid instruction that at any particular point in time there must be at least two naval ships to respond to any eventuality. As we are doing this now, most of the bases are being policed. The CNS has zero tolerance for every form of illegality in the Nigeria waters."

"It is expedient that Gulf of Guinea nations create a safe and secure maritime environment to boost Maritime Trade and Commerce. It is thus envisaged that Nigeria and indeed the Nigerian Navy provide a lead role in this regard"

T H I S D AY ˾ MONDAY MARCH 28, 2022

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CRIME

Technology-driven Policing: NPF Rescue Me Application Upgraded, Says IG r...Encourages Nigerians to take advantage of its Crime Reporting Features

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IG Baba with their details and having access to a variety of features including emer-

gency services, crime reporting, navigation, ambulances services, amongst others.

The application also has an emergency button which when depressed alerts operatives at the Nigeria Police National Command and Control Centre who would immediately send out the required assistance to victims irrespective of their locations within the country.

The Inspector-General of Police while encouraging members of the public to download the application into their carry along gadgets, and input some required information for improved services and their personal safety, reiterated that his administration is poised to exploring the use of cutting-edge technology to take combatting crime and responding to emergency situations to an entirely new level.

Meet New Lagos Police Command Spokesperson

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P Benjamin Hundeyin, has assumed duty at the Lagos State Police Command as the new Police Public Relations Officer.

SP Hundeyin holds a BA (Hons) in English Language from the Lagos State University and an MSc in Legal Criminology & Security Psychology from the University of Ibadan.

He also holds a Certificate in Civil-Military Coordination from the Martin Luther Agwai International Leadership and Peacekeeping Training Centre, Jaji, Kaduna State.

He is equally an Associate of the Nigerian Institute of Public Relations (NIPR), Member of the International Public Relations Association (IPRA) and an Associate of the Chartered Institute of Personnel Management of Nigeria (CIPM).

Hundeyin was one-time PPRO at the Zone 2 Command Headquarters, Onikan Lagos and was a member of the Nigerian contingent

BANDITRY, IMPLICATIONS ON THE SOCIETAL ECONOMY AND PREVENTION STRATEGIES (2) Gbolahan Samuel Moronfolu

The Rescue Me process he Inspector-General of Police, IG Usman Alkali Baba has confirmed an upgrade of the Nigeria Police Force crime reporting mobile application known as ‘NPF Rescue Me’ application.

According to acting Force Public Relations Officer, Force Headquarters, CSP Olumuyiwa Adejobi, this application is valuable to effectively report emergencies, criminal activities, and professional misconducts of police officers, for rapid and immediate reaction by operatives of the Nigeria Police Force (NPF).

The IG emphasises that the NPF Rescue Me App, which is a great improvement, redefines security and personalizes policing, enabling android and ios users to download the app from the various app stores, registering

CRIME SITUATION REPORTS

SP Hundeyin to the United Nations Peacekeeping Mission in Darfur, Sudan (UNAMID) in 2020.

Until his recent appointment, he was the

Administration Officer at the Force Public Relations Department, Force Headquarters, Abuja.

He can be reached on 07062606717 or benjamin@hundeyin.com.

Concept of Banditry Conceptually, banditry is a derivative of the term bandit, meaning an unlawful armed group terrorizing people and confiscating their properties. It is synonymous with the establishment of gang groups who use small and light weapons to carry out attacks against people.

In this regard, banditry could mean a set-up criminal activity deliberately designed and carried out for personal gains. Due to the complex nature of bandits' activities, Egwu (2016) described banditry as a practice of stealing cattle and animals from herders or raiding of cattle from their ranches. In the same vein, banditry is reflected in criminal escapades like cattle rustling, kidnapping, armed robbery, drug abuse, arson, rape and the brazen and gruesome massacre of people of agrarian communities with sophisticated weapons by suspected herdsmen and reprisal attacks from surviving victims, a development that has been brought to the front burner of national security (Uche & Iwuamadi, 2019).

However, where the term banditry is connected to rural community, it implies a group of rural outlawed involved in illicit activities such as raiding of villages, kidnappings and cattle rustling for primitive accumulation of wealth. Thus, bandits are gang groups terrorizing and dispossessing local people or travelers of their valuable items or properties such as merchandise, money, cattle, camel, and sheep, among others. They operate within and along rural borders with the assistance of their local collaborators including in some cases, state agents deployed to work for the safety and security of the people (Abdullahi, 2019).

Nigeria’s current general insecurity challenge has been compromised by avoidable conflicts that have become a common issue in recent times. This has become more worrisome especially when the impoverished segments of the Nigerian masses are finding it increasingly hard to avoid starving to death. Resources that could have been used to modernize the agricultural sector, build industries and infrastructure to create employment, have been consumed by budget for a fight against insecurity and in the rehabilitation of displaced and injured citizens.

It will not be out of place to say that the current wave of general insecurity is fueled by poverty which has made national security threat a more complex issue for the government and has prompted huge allocation of the national budget to security (Achumba, Ighomereho & Akpor- Robaro, 2019). No region has been spared the vicious scourge of conflict though their prevalence and intensity have not been the same in occurrences across the length and breadth of the nation. The current situation is further intensified by elements of globalization, natural disasters, proliferation of weapons and light arms, corruption, executive lawlessness and so on.

The activities of bandits directly affect the seven states of northwestern Nigeria – Jigawa, Kaduna, Kano, Katsina, Kebbi, Sokoto and Zamfara – and is fast spreading to states in the north-central region, particularly Niger State. Emerging evidence alludes to the increasing nexus between bandits and terrorists in Nigeria’s northwest through recruitment tactics and the mutual deployment of logistics and arms, combined with the region’s geographical advantage for carrying out attacks and a similar mastery of the political economy of ‘kidnap for ransom’, used to fund criminal enterprises. Estimates put the number of bandits at about 50,000, spread across scores of gangs ranging in size from 10 fighters to over a thousand.

Mass kidnappings and brutal

raids on civilians in vulnerable villages by bandits are driving a humanitarian crisis. In September 2021, bandits placed a levy of twenty million naira (about US$50,000) on five villages to avoid their attacks. At least 1,126 villagers were killed as a result of these tactics from January to June 2020. In early January 2022, at least 200 villagers were reportedly killed by bandits in Zamfara state, in one of the region’s worst recorded atrocities. While these attacks pose threats to food security in rural areas, failures to bring killers to justice also fuels feelings of impunity, according to reports

by Amnesty International.

In what appears lately as a shifting geography of violence, attacks have been concentrated in villages and semi-urban areas of major towns and cities in Sokoto State. In less than a week, over 40 persons were kidnapped in December 2021 in Wurno, a small local government area in the state. The vicious attack on villages is becoming overwhelming for the vulnerable residents and spreading like a wild fire’. On 6 December 2021, 23 persons died after bandits shot at a bus carrying travellers from Sokoto to Kaduna in an attack at Gidan Bawa village in Isa local government area of Sokoto State.

Insecurity in Nigeria has reached an alarming proportion showing its ugly head in various facets of our national life. Lives are lost on daily basis, population depleted, businesses in comatose, investments are nose-diving, multinationals closing shops and vacating the country, unemployment soaring and the populace in fears. Clearly, it poses a threat to governance and economic growth in troubled nations. Banditry in Nigeria can be largely attributed to ineffective law enforcement in Southern Nigeria and ungoverned spaces in Northern Nigeria.

According to Stewart (2019), the economic costs of insecurity are enormous. People who joined the fighting forces, who are killed or flee, can no longer work productively; schools, power stations, and roads that are destroyed reduced the productive capacity of the economy.

Further, displacement of people reduces the production of exports, thereby reducing foreign exchange earnings, import potentials and consequently further constraining output, leading to a decline in employment and earnings.

The menace remains a threat to governance and economic growth in Nigeria. Despite government’s burgeoning recurrent expenditure on internal security both at the National and State levels, individuals in their various rights, work places and houses spend heavily to provide security for their personal lives and properties. Despite these efforts, the menace keeps exacerbating. Thus in almost all parts of the country, there exist some levels of insecurity.

We have seen instances of ethnic conflicts in some parts of the North, kidnapping in almost all parts of the country, but prominent in SouthSouth and south-West, militancy and pipeline vandalisation activities in the Niger delta, terrorism and religious extremism by Boko Haram in North East, agitations for selfdetermination by IPOB (Indigenous People of Biafra) and MASSOB (Movement for the Actualisation of the Sovereign State of Biafra) in South East, herdsmen disturbances in the North and Central, ritual killings in the South West and East and other political and economic disturbances. These disturbances and insecurities in its various forms affect economic growth.

-Moronfolu is a seasoned security consultant with many years of security and policing experience. FELLOW, Fourth Estate Professional Society (FFPS), he has also partaken in peace keeping operations within and outside the country and has flair for general security education.

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T H I S D AY ˾ ˜ ͰͶ˜ 2022

BUSINESS/MONEYGUIDE

FG Appoints 5 Agencies to Train 50,000 N-Power Beneficiaries Olawale Ajimotokan ÓØ ÌßÔË The federal government has approved the engagement of four of its agencies to train 50,000 non-graduate N-Power beneficiaries.

The approval was given to National Institute of Transport Technology (NITT), Industrial Training Fund (ITF), National Institute for Hospitality and Tourism (NIHOTOUR) and the Hydraulic Equipment Development Institute (HEDI) following the Federal Executive Council held on Wednesday. The shortlisted agencies will train the beneficiaries for nine months.

In her presentation, the Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouq said

that the ministry was coordinating the implementation of the National Social Investment Programme (NSIP) in line with its mandate of alleviating poverty, social inclusion and youth empowerment.

“This N-Build is under the N-Power cluster of programmes managed by NSIP and it targets unemployed non-graduates. This proposed training is a continuation of N-Build training that started in 2017 with every batch of N-Power trainees.

The proposed training programme entails months of in-centre class training, six months for apprenticeship, post apprenticeship, mentorship with provision of starter packs and assessment leading to the award of National Board for Technical

Education (NBTE) certification.

The N-Build apprenticeship programme will be coordinated across the 36 States and FCT and centres in almost 350 Local Government Areas.

NIHOTOUR will provide professional and technical skills upgrade training programmes for the beneficiaries in baking, cooking/catering, house- keeping and mixology as well as all areas of hospitality and tourism directly and indirectly connected to it, while ITF will train beneficiaries in electrical, masonry, plumbing and carpentry.

NITT will handle training services in automobile and agritech tracks while HEDI will empower beneficiaries in welding and fabrication, electrical fittings and plumbing.

Oyiegbu Applauds Fidelity Bank, Says Odogwu Bitters Will Creates 5,000 Direct Jobs The Chief Executive Officer Cubana Group, Mr Obinna Oyiegbu shas applauded Fidelity Bank Plc for its support towards the establishment of his new initiative, of Odogwu Bitters stressing that the new company will create over 5,000 direct jobs in five years.

He who stated this during a chat with select journalists in Lagos, disclosed that about N20 billion would be invested in the company within the next two years.

Iyiegbu who is popularly known as Obi Cubana stressed that the company would also create tens of thousands of indirect jobs through local sourcing of raw materials, haulage and packaging.

According to him, “The project is funded by Fidelity Bank. For the first phase, N2 billion was approved. But we are looking at injecting additional N20 billion into the business within the next 24 months.”

Oyiegbu, who has already made a name in the hospitality industry and real estate, said he decided to go into bitters production to bridge the gap in the industry.

“What we want to achieve with Odogwu Bitters is to luxuriate bitters. Bitters is usually consumed by those in the lower stratum of the societal ladder.

But we want to change that, we want to improve the quality of bitters so much that those in the

upper echelon of the society will desire it. We deploy high quality technology to blend it and we have even added some other ingredients such as honey and ginger to improve its quality, yet the price is at par with others in the market,” Oyiegbu said.

Speaking on the impact of the new product on the economy, Oyiegbu said the new product would add to the country’s Gross Domestic Product (GDP) and also generate foreign exchange.

“Our marketing strategy is such that Odogwu Bitters will be sold in major countries of the world. Already, we are making plans to sell it in the USA, United Kingdom, South Africa and other countries.

Africa Prudential Reports Gains from Diversification Strategy Africa Prudential recorded significant success in its diversification into digital technology solutions provider in 2021 while reinventing its traditional registrar business.

These were among the key messages delivered by the company’s leadership at its 9th annual general meeting held in Abuja.

Despite significant macroeconomic headwinds, including double digit inflation and a weaker Naira, the company recorded 71 per cent growth in registrar maintenance fees in 2021 while adding 19 new clients in the associated business line.

Over the same period, Africa Prudential hit significant milestones in its digital technology

business, culminating in a 58 percent rise in revenues in the business line.

Overall, gross revenues increased by 0.4 per cent to N3.5 billion despite the 12 per cent decline in interest income as the non-interest income lines strengthened, while profit before tax was up 1.3 per cent to N2 billion. The firm maintained its dividend payout at 50 kobo per share for the year 2021, the same payment as in the year 2020.

Speaking at the Annual General Meeting, the Chairman of the Board of Directors, Mrs Eniola Fadayomi said, “amid a slow economic recovery but still challenging business environment, the 2021 performance reflects

the impact of deliberate efforts to diversify the business and to deploy business solutions to strengthen our business and that of our clients for superior value creation.

Commenting on the 2021 performance, Mr Obong Idiong, CEO of Africa Prudential said, “the 2021 performance provides further evidence of the success of our evolution as a business solutions provider even as we strengthen our traditional Registrar Business for superior value creation to our customers.

Revenue from digital technology business has risen from 1 percent of total revenues in 2019 to 18 percent in 2021, amid an expanding clientele across the public and private sector space.”

Itel Rewards Customer with Brand New Car in Ibadan Kemi Olaitan in Ibadan Mobile phone manufacturer, Itel has presented a brand new car to a winner of its Big Day scratch and win promo, Oyewole Adeyinka.

Adeyinka was rewarded with a brand new Hyundai Sonata car after making a purchase of Itel A58 smartphone in February, keying into the company’s sales promotional offer.

The Southwest Zonal Coordinator, National Lottery Regulatory Commission (NLRC), Mr. Tayo Fasuhanmi, while speaking at the presentation, held at Solat

Electronics Store, Mokola, Ibadan, enjoined Nigerians to always verify from the commission the authenticity of most promotional sales from corporate organizations to prevent being swindled by suspected fraudster.

He explained that the commission was involved in the process of the raffle draw, affirming that the process was fair, transparent and in line with regulatory standard. Fasuhanmi said the Commission was involved from the beginning of the process, stating that the commission is currently handling many cases of customers who have fallen

victims of fraudulent promo by some organisations.

The Marketing Manager, Itel Nigeria and West Africa (Region 1), Mr. Oke Umurhohwo, in his remarks, said the Itel brand remained customer centric with a regular reward system for customers, adding that it would not relent in providing services and products that would help every Nigerian enjoy better life.

While urging Nigerians to take advantage of its new Easter sales promo, Umurhohwo noted that the company enjoys ensuring that customers are satisfied with her products.

L-R: Vice President, Junior Chamber International (JCI), Ikeja, Oluwakemi Arowolo; ; Operations Manager, Vono Furniture Products Limited, Raji Shina; Commercial Director, Vitafoam Nigeria PLC, Sola Owoade and President, JCI, Ikeja, Ayoola David during facility visit of JCI Ikeja Executive Members to Vono Furniture Products Plant in Lagos...recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT THURSDAY, OCTOBER 7

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

45

T H I S D AY ˾ ˜ ͰͶ˜ ͰͮͰͰ

Onyema: NGX Group Repositioned for Growth Post Demutualisation Kayode Tokede The Group Managing Director and Chief Executive Officer, Nigerian Exchange Group Plc (NGX Group), Mr. Oscar N. Onyema, OON yesterday said the Group is repositioned for growth amid the completion of the demutualization of the Nigerian Stock Exchange.

Speaking virtually during the

Group’s 2021 financial year investor and analyst presentation, he said the Group is focused on revenue diversification, optimization of profitability, and building a platform business to drive the increase in recurring income.

He added that the Group is also positioned to invest in new strategic opportunities, support achievement of strategic goals

P R I C E S MAIN BOARD

F O R DEALS

of its subsidiaries, and increase resilience across the Group. He explained that the focus on executing deals and transactions to scale business, raising capital, and optimal corporate governance structures are part of the plans of the non-operating Holdco to optimize growth.

According to Onyema, the revenue of NGX Group is made up of dividends and treasury

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

QUANTITY TRADED

investment income. “Dividend income is generated from dividends paid by the subsidiaries, and associates companies of the group, while the treasury investment income includes income from bonds, treasury bills, and fixed deposits.”

Speaking further, the Group’s Chief Financial Officer, Cyril Eigbobo, said, the NGX Group’s gross earnings grew to N6.78

T R A D E D

VALUE TRADED ( N )

MAIN BOARD

A S

billion from N6.02 billion, resulting in a 13 percent increase. He added that the group’s profit before tax (PBT) increased by 25.4 percent to N2.39 billion while its profit after tax (PAT) rose by 22.2 percent to N2.25 billion from N1.84 billion recorded in the corresponding period of 2020.

According to him, the jump in the Group’s revenue which rose

O F

2 5

by 14.9 percent from N5 billion recorded in 2020 to N5.8 billion in 2021, was driven by a 24.8 percent growth in listing fees which grew to N757.4 million as against N606.9 million in 2020, 4.9 percent growth in its treasury investment income and a 2.1 percent growth in the transaction fees which rose to N2.9 billion from N2.8 billion recorded in 2020.

/ 0 3 / 2 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

46

MONDAY, MARCH 28, 2022 • T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

Myanmar Junta Vows to ‘Annihilate’ Coup Opponents Myanmar’s junta will “annihilate” coup opponents, army chief Min Aung Hlaing said Sunday as the military staged a show of force on the anniversary of its bloodiest crackdown so far on democracy protests.

According to a local monitoring group, the Southeast Asian country has been in chaos since a putsch in February 2021, with more than 1,700 people killed in crackdowns on dissent.

Across the country, “People’s Defence Force” fighters -- often armed with homemade or rudimentary weapons -- regularly clash with junta troops. Some analysts suggest the military has struggled to respond effectively to their hit-and-run tactics.

Fighting has also flared with more established ethnic rebel groups along the Thai and Chinese border.

Presiding over the annual parade that showcased tanks, truck-mounted missiles, artillery and troops on horseback, Min Aung Hlaing told some 8,000 assembled security personnel that the army would not let up.

The military will “no longer negotiate... and annihilate until the end” groups fighting to overturn its rule, he said ahead of the Armed Forces Day procession in the army-built capital Naypyidaw.

Jets flew overhead, trailing the national flag’s yellow, red and green, while state media showed women lining the streets leading to the parade ground to give flowers and place garlands on the marching soldiers.

In the commercial hub, Yangon, around a dozen anti-junta flashmob protesters set off flares and shouted slogans, according to footage posted on social media.

Others called on social media for residents to switch off their lights at home in a national “power strike” on Sunday evening.

Gang War: El Salvador’s Congress Approves State of Emergency El Salvador’s congress has approved a state of emergency requested by President Nayib Bukele to combat a wave of gang-related killings over the weekend.

Local media reported that about 50 people had been killed, a scale of violence that has not been seen for years.

Bukele had announced the request in his social media accounts and taunted those who opposed the measure, saying: “Is the opposition coming out to defend the gang members?”

The decree suspends constitutional guarantees of freedom of assembly and loosens arrest rules for as much as 30 days.

While Bukele has tried to project a tough attitude on crime, the country’s enormously powerful street gangs have proved a doubleedged sword for him.

In December, the US Treasury said Bukele’s government secretly negotiated a truce with leaders of the gangs. That contradicted Bukele’s denials and raised tensions between the two nations.

The US government alleges Bukele’s government bought the gangs’ support with financial benefits and privileges for their imprisoned leaders, including prostitutes and cellphones.

The explosive accusations cut to the heart of one of Bukele’s most highly touted successes in office: a plunge in the country’s homicide rate.

The president responded sarcastically via Twitter to the accusations. “Cell phones and prostitutes in the prisons? Money to the gangs? When did that happen? Didn’t they even check the date? How can they put out a such an obvious lie without anyone questioning them?”

Bukele vehemently denied the accusation when it was reported in August 2020 by the local news site El Faro.

Al-Shabab Increase Suicide Bombers’ Attacks in Somalia Al-Shabab extremists in Somalia are getting “bolder” in their attacks and have increased using suicide bombers wearing homemade explosives in what security experts call a “change in tactics.”

from 1995 to 2000, according to her CGTN profile.

She moved to China in 2001 and joined state broadcaster CCTV the following year, then she was the China correspondent for CNBC Asia for nine years before returning to CCTV in 2012. She was the anchor of a business program on CGTN, the state broadcaster’s international arm.

The Islamist militant group mounted one of its deadliest attacks Wednesday, targeting elections at the regional presidential palace in Beledweyne town around 300 km north of Mogadishu.

Forty-eight people were killed, and more than 100 others wounded.

Among the dead was a member of parliament, Amina Mohamed, a vocal critic of the government, who was on the campaign trail when she was targeted and killed by a suicide bomber wearing an explosive vest.

Hours earlier, two Shabab militants breached the heavily fortified compound at Mogadishu’s airport, where presidential elections are scheduled to take place. Offices for the UN, Western embassies and the African Union peacekeeping mission are in the same area.

For more than a decade, al-Shabab has been fighting the UN-backed Somali government in Mogadishu, and during its violent campaign, it has used a range of tactics that include intimidation and use of violence.

But in recent months, al-Shabab increased attacks in which individual suicide bombers deliver explosives and detonate them on selected targets with precision to inflict the greatest possible damage, security experts told VOA Somali service.

In November of last year, Abdiaziz Mohamud Guled, a critic of al-Shabab, was killed in Mogadishu in a suicide attack carried out by a man wearing a vest.

In January 2022, former Somali government spokesman and now lawmaker Mohamed Ibrahim Moalimuu survived a similar attack on his car by a man wearing a suicide bomb. Militants also carried out several other attacks in the same way.

“So, this shows a change of tactics from using vehicles and armed raids to more individual suicide bombers,” said former Somalia National Intelligence and Security Agency (NISA) chief Abdullahi Mohamed Ali. “For them [al-Shabab] deploying suicide bombers, who strike intended targets, is cheaper, effective, and easier strategy.”

US Envoy Not Confident Iran Nuclear Deal is Imminent US Special Envoy for Iran Robert Malley said on Sunday he was not confident that a nuclear deal between world powers and Iran was imminent, dampening expectations after 11 months of talks in Vienna that have stalled.

The failure of efforts to restore a 2015

accord, which would curb Tehran’s nuclear program in exchange for lifting tough sanctions, risks spiking tensions in the Middle East, leading to more harsh Western measures and further increasing world oil prices, analysts say.

“I can’t be confident it is imminent...

A few months ago, we thought we were pretty close as well,” Malley said at the Doha Forum international conference.

“In any negotiations, when there are issues that remain open for so long, it tells you something about how hard it is to bridge the gap.”

His assessment of the negotiations in Vienna to revive a 2015 nuclear accord came after Kamal Kharrazi, a senior advisor to Iran’s Supreme Leader Ayatollah Ali Khamenei, said a deal could come soon.

“Yes, it’s imminent. It depends on the political will of the United States,” Kharrazi told the conference.

Chinese Court to Try Chinese Australian Journalist Next Week A Chinese Australian journalist who has been held in China since August 2020 will be tried next week, the Australian government said Saturday.

Cheng Lei, who was a prominent journalist for China’s state-run international network CGTN, was initially detained and later formally arrested on suspicion of supplying state secrets overseas.

The Chinese government has notified Australia that her trial will be held on Thursday, Australian Foreign Minister Marise Payne said in a statement posted online.

“We expect basic standards of justice, procedural fairness and humane treatment to be met, in accordance with international norms,” the statement said.

The National Press Clubs of the United States and Australia and the journalist’s former CGTN colleagues and friends wrote open letters last year calling for her immediate release.

“Cheng Lei’s yearlong detention is an assault on journalism and on human rights,” a US National Press Club statement said.

Australia has raised concerns about Cheng’s welfare and detention conditions.

Payne’s statement said that government officials last visited her on March 21.

They have asked to be allowed to attend the trial.

Cheng was born in China and graduated from the University of Queensland. Before becoming a journalist, she worked as an accountant and financial analyst in Australia for Cadbury Schweppes and ExxonMobil

China Finds Second Black Box of Crashed Plane: Report Recovery crews on Sunday found the second black box -- the flight data recorder -- from the wreckage of a China Eastern Airlines Boeing 737-800 jet that crashed into a mountainside in southern China, state media reported.

Flight MU5735, with 132 people on board, was en route from the southwestern city of Kunming to Guangzhou on the coast on Monday when it plummeted from cruising altitude at about the time when it should have started its landing descent.

There had been little hope of finding any survivors. In a late-night news conference on Saturday, officials announced that all people on board, including nine crew members, have been confirmed dead.

The crash was the deadliest air disaster in mainland China since 1994, when a China Northwest Airlines flight from Xian to Guangzhou crashed, killing all 160 people on board.

The cause of the China Eastern crash remains unknown.

The other black box -- the cockpit voice recorder -- was found on Wednesday and sent to Beijing for examination by experts.

Blinken Reassures Allies Ahead of Iran DealUS Secretary of State Antony Blinken has sought to reassure a wary Israel and its Gulf Arab allies that the Biden administration is committed to their security ahead of the possible renewal of global powers’ international nuclear deal with Iran.

Blinken made the comments shortly before joining his counterparts from Israel and four Arab countries at a special gathering where the Iranian nuclear deal was expected to top the agenda.

Israel and many of its neighbours are fiercely opposed to the deal, which they believe will embolden and enrich Iran.

“When it comes to the most important element, we see eye-to-eye,” Blinken told reporters at a news conference with Israel’s foreign minister. “We are both committed, both determined that Iran will never acquire a nuclear weapon.”

The Biden administration has been working to renew the 2015 nuclear deal, which placed curbs on Iran’s nuclear programme in exchange for billions of dollars in sanctions relief. With support from Israel, the Trump administration withdrew from the deal in 2018, causing it to unravel.

Although Iran has since raced ahead with its nuclear program, Israel and Gulf Arab countries are deeply concerned about restoring the original deal. Israel fears it does not include enough safeguards to prevent Iran from developing nuclear weapons. Both Israel and its Gulf allies also believe that relief from economic sanctions will allow Iran to step up its military activities across the region, including support for hostile militant groups.

Blinken said the US believes that restoring the nuclear deal “is the best way to put Iran’s program back in the box it was in.”

He added: “Our commitment to the core principle of Iran never acquiring a nuclear weapon is unwavering.”

He also vowed to cooperate with Israel to counter Iran’s “aggressive behaviour” across the region.

47

MONDAY, MARCH 28, 2022 • T H I S D AY

MARKET NEWS A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange.

A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg.

Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 24Mar-2022, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A Afrinvest Dollar Fund N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 8.34% AIICO Balanced Fund 3.47 3.53 -2.05% 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 6.83% Anchoria Equity Fund 142.85 144.52 1.27% Anchoria Fixed Income Fund 1.21 1.21 5.78% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com info@anchoriaam.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 20.82 21.45 2.64% ARM Discovery Balanced Fund 476.71 491.09 5.66% ARM Ethical Fund 39.81 41.01 2.19% ARM Eurobond Fund ($) 1.06 1.06 -2.12% ARM Fixed Income Fund 1.03 1.03 1.63% ARM Money Market Fund 1.00 1.00 6.97% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 109.05 109.05 7.22% AVA GAM Fixed Income Dollar Naira 1,088.37 1,088.37 8.84% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.11 2.11 11.83% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.28 2.33 19.28% CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.03 1.03 2.00% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 6.75% Cordros Milestone Fund 138.35 139.26 4.66% Cordros Dollar Fund ($) 111.66 111.66 4.80% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 8.09% Emerging Africa Bond Fund 1.02 1.02 5.94% Emerging Africa Balanced Diversity Fund 1.04 1.04 14.22% Emerging Africa Eurobond Fund 101.67 101.67 3.61% FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,429.64 1,429.64 10.53% FBN Balanced Fund 186.07 187.48 6.17% FBN Halal Fund 117.88 117.88 8.22% FBN Money Market Fund 100.00 100.00 8.10% FBN Nigeria Eurobond (USD) Fund - Retail FBN Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund FSDH ASSET MANAGEMENT LTD Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Coral Balanced Fund Coral Income Fund Coral Money Market Fund

123.15 156.90

123.15 4.07% 159.04 3.96% fcmbamhelpdesk@fcmb.com

Bid Price 1.00 3.98 1.78 1.22

Offer Price Yield / T-Rtn 1.00 6.69% 3.98 -0.52% 1.82 2.34% 1.22 0.99% coralfunds@fsdhgroup.com

Bid Price 3,979.11 3,516.87 100.00

Offer Price 4,041.96 3,516.87 100.00

Yield / T-Rtn 2.26% 1.40% 6.71%

1.09

1.09

0.78%

INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 4.27% Vantage Balanced Fund 3.02 3.08 5.62% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 139.21 139.21 -10.56% Vantage Equity Income Fund (VEIF) - June Year End 1.26 1.30 0.16% Vantage Dollar Fund (VDF) - June Year End 1.08 1.08 2.70% 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 1.49 1.51 3.30% Lotus Halal Fixed Income Fund 1,164.13 1,164.13 2.38% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 12.34 12.44 4.69% Meristem Money Market Fund 10.00 10.00 8.44% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 103.57 103.57 9.41% Norrenberger Money Market Fund (NMMF) 100.00 100.00 8.03% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.63 1.66 1.69% PACAM Fixed Income Fund 11.67 11.67 4.25% PACAM Money Market Fund 10.00 10.00 7.25% PACAM Equity Fund 1.45 1.47 0.76% PACAM EuroBond Fund 113.97 116.52 -1.03% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 129.91 132.16 7.43% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.02 1.02 9.49% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,516.57 3,556.70 2.16% Stanbic IBTC Bond Fund 237.34 237.34 0.68% Stanbic IBTC Ethical Fund 1.35 1.37 4.62% Stanbic IBTC Guaranteed Investment Fund 317.27 317.27 1.25% Stanbic IBTC Iman Fund 250.67 254.51 3.56% Stanbic IBTC Money Market Fund 100.00 100.00 4.75% Stanbic IBTC Nigerian Equity Fund 11,512.98 11,677.22 3.65% Stanbic IBTC Dollar Fund (USD) 1.31 1.31 1.04% Stanbic IBTC Shariah Fixed Income Fund 117.85 117.85 0.75% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 108.27 108.27 UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 0.98 1.00 5.20% United Capital Balanced Fund 1.42 1.45 4.39% United Capital Wealth for Women Fund 1.15 1.17 5.96% United Capital Sukuk Fund 1.09 1.09 1.71% United Capital Fixed Income Fund 1.99 1.99 1.67% United Capital Eurobond Fund 123.81 123.81 1.21% United Capital Money Market Fund 1.00 1.00 6.08% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.47 13.60 2.16% Zenith ESG Impact Fund 15.54 15.72 6.40% Zenith Income Fund 22.37 22.37 1.70% Zenith Money Market Fund 1.00 1.00 5.80%

REITS NAV Per Share

Yield / T-Rtn

122.07 53.16

1.55% 0.82%

Bid Price

Offer Price

Yield / T-Rtn

14.11 134.04 106.12 20.43 22.19

14.21 137.39 108.44 20.53 22.29

1.00% 1.84% 2.41% 0.00% 0.00%

Fund Name SFS REIT Union Homes REIT

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

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.34 5.59 18.45 1.00 21.07 168.73

4.44 5.69 18.65 1.00 21.27 170.73

15.14% 9.74% 7.32% 6.88% 8.60% 6.90%

INFRASTRUCTURE FUND

Fund Name NAV Per Share Yield / T-Rtn Chapel Hill Denham Nigeria Infrastructure Debt Fund 107.28 10.80% 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.

FSDH Dollar Fund

48

T H I S D AY • MONDAY, MARCH 28, 2022

NEWSXTRA

MEETING OF SOUTH EAST ZONAL EXECUTIVE COMMITTEE...

Governor of Enugu State and Leader of the Peoples Democratic Party (PDP) in the South East geo-political zone, Rt. Hon. Ifeanyi Ugwuanyi (7th left), Governor of Abia State, Dr. Okezie Victor Ikpeazu (6th right), the PDP National Secretary, Senator Sam Anyanwu (6th left), the National Vice Chairman of the PDP (South East), Chief Ali Odefa (7th right), others, during the meeting of the Zonal Executive Committee (SEC) of the Party, held in Enugu, yesterday

Universities in Total Shutdown, as SSANU, NASU Begin 2-Week Warning Strike Afenifere urges Buhari to address challenges in education sector Deji Elumoye and Onyebuchi Ezigbo in Abuja Federal universities in the country would witness total shutdown of activities following the resolve by the Senior Staff Union of Universities (SSANU) and Non Academic Staff Union of Universities (NASU) to respectively commence a twoweek warning strike.

Their counterpart, the Academic Staff Union of Universities (ASUU) had been on a two-month roll-over strike to compel federal government to meet its demands.

In a statement yesterday by the Joint Action Committee (JAC) of SSANU and NASU, the unions explained: "Having waited for too long, this is to inform you that government has not responded nor reacted to our demands as at this moment.

"In view of the nonchalant attitude of government to our demands, this is to direct our members in all the universities and inter university centres throughout the country to commence a warning strike by midnight of Sunday, March 27, 2022, in the first instance as earlier conveyed to the federal government in our letter.

"Please know that the two weeks warning strike should be comprehensive and total as no concession should be given under any guise."

The statement jointly signed by the National President of SSANU, Mohammed Ibrahim and General Secretary of NASU, Mr. Adeyemi Peters, directed all union members to adhere strictly

to the industrial action, adding that it was mandatory for all branches of SSANU and NASU. The two unions had earlier given the federal government notice of warning strike through a letter to the Ministry of Labour and Employment, dated March 16, 2022.

JAC had in a letter addressed to the Minister of Labour and Employment, Senator Chris Ngige, who is the Conciliatorin-Chief and dated March 16, 2022, accused the government of insincerity in its implementation of the Memorandum of Understanding (MoU) and Memorandum of Action (MoA) reached with the government in October 2020 and February 2021 respectively.

The letter, signed by Ibrahim and Adeyemi, had given the federal government up till March 27th, to address its demands or face an initial two-weeks strike.

The JAC of the two nonteaching staff of SSANU and NASU in the letter titled: "Looming Industrial Action and Notice of Warning Strike," recalled the contents of the MoU and MoA reached with the federal government on October 20th, 2020, and February 25th, 2021, respectively and concluded that the federal government has not been sincere with the implementation of the agreements The unions further recalled the letter to the government on the same subject matter dated March 1, 2022, regretting that nothing came out of it despite the fact that JAC gave a 21-day ultimatum for the grievances of members to be addressed.

The two unions also said they are ready to present their preferred mode of payment, the University Peculiar Personnel & Payroll System (U3PS), which they said would address all the challenges unions were passing through in the payment of their salaries.

The U3PS according to Ibrahim, is a system that accommodates the peculiarities in the Nigerian university system.

"The system handles all employees’ financial records in a hassle-free, automated fashion.

This includes employees’ salaries, bonuses, deductions, net pay, generation of pay-advice and other financial reports using accounting best practices ices.

“U3PS seeks to essentially automate those micro administrative tasks performed by accountant general office and

bursars of federal institutions, thereby giving the office the mental bandwidth to focus on the macro,” they added.

Meanwhile, the Pan-Yoruba socio-political organisation, Afenifere, has appealed to President Muhammadu Buhari to tackle challenges facing the nation’s education sector.

The group recalled the assertion made by Buhari at the 2022 convocation ceremony of the National Open University (NOUN) which took place in Abuja on March 26th.

According to a statement by Afenifere, Buhari had in a speech delivered on his behalf by the acting Permanent Secretary, Ministry of Education, Mr. David Gende, said the root-cause of crises in Nigeria could be traced to ignorance.

In his words: “It is common

knowledge that the root cause of the recorded crises of nationhood we experience in Nigeria is as a result of ignorance which can only be through the provision of education.”

The group while lauding the president for acknowledging that challenges of nationhood that the country was facing could be traced to lack of proper education, however asked the federal government what it was doing about said problem.

Afenifere said: “It is on record that the education sector suffers the most under this administration. At no time in the history of the country had education been battered as much as it is under this government. In February, the Ministers of Education and Labour, Adamu Adamu and Chris Ngige, visited President

Buhari in a London hospital to wish him quick recovery.

The visit occurred at a time that university lecturers were on strike.

“There was no report that the education crisis that was hot then and now was discussed - let alone resolved during the visit.

"As at the time of writing this, ASUU is still on strike just as some other unions in the tertiary education sector are threatening to go on strike as well. No indication at all that the matter is of interest in any way to the government.

"How then are we to take the President’s declaration at NOUN convocation serious?".

It, therefore, called on Buhari to use the remaining 14 months left for him in office to reverse the ugly fate that has bedeviled the country in all spheres of life.

Omokri Shortlisted as Africa's Business Influencer of the Year Reno Omokri, former presidential aide under President Goodluck Jonathan's administration, has been shortlisted as Business Insider's Business Influencer of the Year.

According to a post on the renowned publication's website, the award honours an individual who has contributed thought-provoking content to the business community.

The award winner will

be decided through votes.

Voting for the Business Insider Africa Awards starts on March 21 and will close on April 3 via https://africa. businessinsider.com/awards/ business-influencer-of-the-year/ ydmv0wz "One of the world’s biggest business publications, Business Insider, has nominated me, amongst others, for the Business Influencer of the Year Award,"

said Omokri. "I urge all my followers and subscribers and everyone who has benefited from #RenosNuggets and my masterclasses to please vote for me."

Other individuals nominated for the list are Tony Elumelu, Chairman of Heirs Holdings; Vusi Thembekwayo, an entrepreneur; Dr. Ola Brown, co-founder of Flying Doctors Nigeria; and Victor Asemota,

an entrepreneur.

Omokri is a bestselling author and human rights activist.

Omokri is also the vice president of Joe Trippi and Associates, a US political consulting firm.

He is also the founder of the Free Leah Sharibu movement, a media campaign advocating for the freedom of a Christian schoolgirl abducted from school

by Boko Haram on February 19, 2018.

It's Unconstitutional for EFCC to Seize Passport of Nigerians Under Investigation, Says PDP Chieftain Sylvester Idowu in Warri Former Delta State Gubernatorial Aspirant on the platform of People's Democratic Party (PDP), Chief Sunny Onuesoke has described as unconstitutional the Economic And Financial Crimes Commission (EFCC’s) of the passports of Nigerians under their investigation.

Reacting to seizure of

passports by Nigeria Security agencies in recent times, Onuesoke in a statement yesterday argued that EFCC has no constitutional right to seize passport of those under their investigation stressing that it is only the court that can issue such an authority.

The PDP chieftain maintained that the action of EFCC impounding passports of those

they are investigating was tantamount to infringement on their rights to freedom of movement which call into question Nigeria’s commitment to fundamental democratic principles and how it could cause reputational damage to the country at home and on the international stage.

He noted that a situation in which government agencies take

actions, constitutional or not, lawful or otherwise, based on their whims and caprices, is a dangerous, dictatorial, autocratic, unacceptable practice which must be discouraged, because it has no place in a constitutional democracy.

According to him, “The Passport (Miscellaneous Provisions) Act 2004 in Section 6 defines Passport as “a document

of protection and authority to travel issued by the competent Nigerian officials to Nigerians wishing to travel outside Nigeria.” And, while the Act doesn’t provide for seizure of passports, Section 5 thereof provides for instances in which an individual’s passport may be cancelled or withdrawn.”

He said though in certain circumstances, Section 45 of

the Constitution provides for restrictions on and derogation from fundamental rights, including that of freedom of movement, it is definitely not a ‘carte blanche’ for Government agencies to unilaterally seize people’s passports, simply because such agencies are able to abuse their powers and/or act ultra vires their powers and get away with it.

49

T H I S D AY • MONDAY, MARCH 28, 2022

NEWSXTRA

LEVERAGING TECH INVESTMENTS TO DRIVE POST-PANDEMIC RECOVERY...

Edo State Governor, Mr. Godwin Obaseki (left), with other panelists at the 20th edition of the Doha Forum with the theme, ‘Transforming for A New Era,’ in Qatar.

Electoral Act Amendment: Falana Accuses Malami of Forum Shopping, Manipulating Court to Issue Conflicting Orders Alex Enumah in Abuja The dust raised by the recently amended Electoral Act may probably take a long time to settle following controversial issues generated by its passage.

The latest is the accusation made by senior lawyer, Mr. Femi Falana, that the Attorney General of the Federation (AGF) and Minister of Justice, Mr. Abubakar Malami, was allegedly engaging in "Forum Shopping" to get Section 84 (12) deleted from the Electoral Act. President Muhammadu Buhari had while signing the amended bill to law, requested the National Assembly to delete Section 84 (12) from the Act on claims that it violated the Nigerian Constitution.

The said section had bars political appointees from voting or being voted for at the conventions or congresses of political parties.

While the provisions have since been receiving commendations and condemnations, the court within a space of one month has given three different and conflicting orders in suits brought before them to determine the

legality or otherwise of the section.

Firstly, a Federal High Court in Abuja, presided over by Justice Inyang Ekwo had while ruling in an exparte application temporarily barred the federal government and its agents from, "refusing to implement the duly signed Electoral Act or in any manner howsoever withholding the said Act from being put to use or failing to or refusing in any manner howsoever from enforcing the provisions of the said Electoral Act, 2022 including the provisions of Section 84(12) of the said Act pending the determination of the motion on notice for interlocutory injunction filed in this suit."

The court also temporarily restrained the lawmakers and other defendants in the suit from giving effect to the directive of Buhari to delete or remove the provisions of Section 84(12) of the Electoral Act, 202 on the ground that it is unconstitutional Justice Ekwo in the exparte granted on March 7, had also ordered the plaintiff to serve the Originating Summons and the

NGOs Partner Rivers to Domesticate National Youth Policy Blessing Ibunge in Port Harcourt A coalition of non-governmental organisation (NGO) is now working with the Rivers State Ministry of Youth Development to ensure the domestication of the National Youth Policy.

The coalition, including Youth Alive Foundation, Relief International Africa, Centre for Development Supportive Initiative and others had a meeting at the weekend, with the state Commissioner for Youth Development, Ohia Prince Obi, on strategy to achieve success on the adoption of the policy in the state.

Receiving the NGOs in his office, Obi noted that the idea was a welcome development.

He noted that Rivers State had made effort to have a draft domesticated document on the policy, assuring that the process would be actualised.

Speaking with THISDAY at the end of the meeting, Chamberlin Etukudor, Communication Associate with Youth Alive Foundation, explained that the purpose of the meeting was to have a discussion with key stakeholders

on how to ensure the adoption of the national youth policy.

"We are aware that the state has a drafted copy, they are in a draft stage of adopting the national youth policy and we wanted to discuss with the Ministry the modality to ensure that this draft copy is reviewed and approved by the Executive Council.

"We want to see action being taken to ensure the speedy implementation of the national youth policy.”

Etukudor revealed that, "In terms of implementation, some of the states are yet to adopt the national youth policy. A state like Akwa Ibom are yet to adopt it, Lagos state has their own domesticated version of the national youth policy, though it had not yet been formally released. Kano does not have adoption.".

On his part, Green Isaac, Executive Director of Relief International Africa, said "We need to review the policy, look at gray areas of the policy and that will entail putting a working committee that is from the NGOs and the government, so that we sit down together and work out a policy.

motions on the defendants within 3 days and adjourned the hearing of the motion for interlocutory injunction to March 21.

Next, another Federal High Court, this time in Ibadan, presided by Justice Agomoh, had dismissed a suit filed by Chief Oyewole Bolanle for want of jurisdiction and the plaintiff's lack of locus standi to institute the suit.

The suit which had the Attorney General of the Federation as sole defendant sought the nullification of the said section as well as its deletion from the Electoral Act. Lastly, barely 24 hours later, precisely March 18, another Federal High Court in Umuhia, presided by Justice Evelyn Anyadike, nullified the said section and subsequently ordered the AGF to forthwith delete the said offensive section for being in violation of the Constitution.

However, reacting, Falana lamented that just when the leadership of the judiciary was trying to stamp out issue of conflicting orders of courts of coordinate jurisdiction, it was the office of the AGF that appeared to be perpetuating it on this occasion.

According to him the two suits filed in Ibadan and Umuhia were not only similar in all respect but had the AGF as the sole defendant.

"It is doubtful if the similarities in the two cases can be said to be mere coincidence. However, the Attorney-General of the Federation, the Defendant in both cases did not draw the attention of both Ibadan and Umuahia Judicial Divisions of the Federal High Court to the fact that the Abuja Judicial Division of the same Court had, on March 7, 2022, restrained himself, President Buhari, National

Assembly and the Independent National Electoral Commission from refusing to implement the provisions of Section 84(12) of the Electoral Act, 2022.

"Neither did the AttorneyGeneral disclose to the Umuahia Judicial Division of the Federal High Court that the Ibadan Judicial Division had struck out a similar case for want of locus standi.

“In any case, since the case pending at the Ibadan Judicial Division of the Federal High Court was well reported in the print and electronic media the Judge sitting in the Umuahia Judicial Division ought to have struck out the fresh case before her as it constituted a gross abuse of court process," he said.

Falana further pointed out that while the AGF pretended not to know about the order of interim injunction granted by the Federal High Court, Abuja, he

had announced the plan of the federal government to comply with the judgment delivered in the Umuahia case as soon as possible.

He maintained that if Malami goes ahead to delete Section 84(12) of the Electoral Act, "he would be liable to be committed for contempt ex facie curiae as the Abuja Judicial Division of the Federal High Court has restrained him and other defendants from enforcing the provisions of the said Electoral Act, 2022 including the provisions of Section 84(12) of the said Act pending the determination of the motion on notice for interlocutory injunction."

He stressed that unless the valid and subsisting order of the Federal High Court, Abuja, was set aside either by the trial Judge or an appellate court the AGF cannot DELETE section 84(12) of the Electoral Act.

Obaseki: Edo Leveraging Tech, Agric Investments to Drive Post-pandemic Recovery Hails mothers for their sacrifice, exploits in nation- building The Edo State Governor, Mr. Godwin Obaseki, at the weekend, said the state was sustaining investment in largescale agricultural production and leveraging technology and innovative potential of its youthful population to ensure food security and drive the state’s post-COVID-19 pandemic recovery plan.

Obaseki disclosed this when he joined other world leaders and policymakers, at the 2022 Doha Forum in Qatar, to speak on innovations to solve large-scale economic shocks resulting from the COVID-19 pandemic and other critical challenges facing the world economy.

The governor was among the panelists at the 20th edition of the Doha Forum with the theme, ‘Transforming for A New Era.’ Other panelists included H E Kandia Kamissoko Camara, Minister of Foreign Affairs of Ivory Coast; Charles Murito, Director, Sub Saharan Africa, Government Affairs and Public Policy, Google; Wale Adeosun, Chief Investment Officer, Kuramo Capital Management, and Ken Njoroge, Founder, Cellulant.

Obaseki, who noted that the

main effect of COVID-19 in Edo State was the disruption of livelihoods and small businesses, disclosed that the war in Ukraine had further exposed the inadequacies of the global food system.

He noted, “For us in Edo State, we didn’t suffer much from the infections or mortality rate of the COVID-19 because of the very young population we have in Nigeria and Edo State.

The infection wasn’t so high and the mortality wasn’t as bad as we get from malaria or other diseases.

“What really affected us was the disruption of livelihoods and with the lockdowns, a lot of small businesses were seriously affected and but the availability of technology as a response sprung up new opportunities for small businesses in particular.

“In terms of our healthcare response, we realized the opportunities for investment in the healthcare space and the participation of the private sector in healthcare delivery. Before now, the bulk of healthcare investment was left to the government, even though the private sector is a key provider of healthcare services.”

Obaseki continued: “For small and medium businesses because they had been drained of capital as a result of the lockdown, it further showed the importance and necessity to reinvest in that segment of the economy. So, small businesses became a viable sector to invest money because most of them began to use technology for service delivery and production.

“This opened an opportunity for other key investments that came out as a result of the COVID-19, which is investments in technology and tech startups.

“As a lot of our young people began to invest and take opportunities in the tech space, we found companies outsourcing work to young people in Nigeria and Edo State, with many of our young people earning in foreign exchange for writing codes and programmes for companies abroad.

So, that’s another area we found significant investment.”

On ensuring food security, the governor stated, “The Ukrainian war, for me, has created a real alarm for our food systems.

With the increase in food prices, particularly, wheat, staples and grains, and the rise in energy prices,

we as a government, have realized that we now have to put in a lot of resources and time in agriculture, and large-scale agricultural projects.

“Fortunately, in Edo State, we have started investment in palm oil and have rolled out programmes where we could bring in serious investment into large scale oil palm production as the trigger for large scale investment in agriculture.”

“So, the opportunities that we see in the next three years is to first secure our food supplies by food production and then utilise technology and focus on smaller businesses,” Obaseki added.

Also, Murito said Africa’s young population, which covers a third of the world’s population, should be empowered to fill the future jobs locally and internationally.

Earlier, Sheikha Al Mayassa bint Tamim bin Hamad Al Thani said Qatar looks forward to exploring ways to partner with Africa and discuss business opportunities that can empower the continent.

Meanwhile, Obaseki, has hailed mothers for their immense sacrifice in ensuring a strong family unit and contributing to progress in workplaces in the quest towards nation-building.

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NEWSXTRA

PRESENTATION OF MOBILE NUCLEAR DETECTION SYSTEM… L-R: Assistant Regional Security Officer, US Consulate, Jonathan Dvorak ; Commissioner of Police, Explosive Ordinance Disposal(EOD) Command, Shetima Zannah and U.S. Department of Energy's Office of Nuclear Smuggling Detection Deterrence Sustainability Manager, Steward Voit, during the presentation of mobile nuclear detection system vans and equipment ABIODUN AJALA valued over $2 million to the Nigeria Police Force's Explosive Ordinance Disposal Command in Lagos...weekend

2023: APGA Maps Out Strategies, Says It will Do Better than 2019 Onyebuchi Ezigbo in Abuja The National Chairman of the All Progressive Grand Alliance (APGA), Chief Victor Oye, has said the party has begun to work out strategies on how to improve its performance in 2023, saying the party would do better than it did in 2019.

As one of the 18 political parties recognised by the Independent National Electoral Commission (INEC) to participate in next year's general election, APGA boss said the party was yet to decide on the issue of fielding a presidential candidate.

Oye said part of the efforts was to streamline its activities and ensure that the party guidelines for the primary elections conform strictly with party's constitution and the new Electoral Act. Speaking to THISDAY at the weekend on the outcome of the national executive meeting (NEC) convened to review operations and plans for

future elections, Oye said one of key focus was to fashioning out best ways to organise a rancour-free, fair and credible primary elections.

He said members of the NEC met to ratify guidelines and timetable for electoral activities ahead of the 2023 elections.

"Many decisions were reached at APGA's NEC meeting, some of which included the strategies on how to win the 2023 elections; how to organise a free, fair primaries and how to move the party forward generally.

"We also used the opportunity to review the Anambra State governorship election, 2021 and used the opportunity to commend the new governor of the state, Professor Charles Soludo and also the outgone governor, Chief Willie Obiano, for a job well done in the eight years of his administration,” he said.

On the 2023 elections, Oye said: "We are confident that in the 2023 general election,

APGA will perform better than it did in 2019", adding that although some politicians were jostling to run for the presidency using APGA ticket, the party was waiting for the commencement of the sale of forms for respective elective offices, before it can know those in serious contention.

"We have not reached the

stage of knowing, who these persons are. When we get to the bridge we will cross it," he said On the recent arrest and subsequent release of Obiano by the EFCC, Oye said that agency’s handling of the matter was condemnable, because the leaking of a video showing the ex-governor

The Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN) has warned that the livestock industry in the country might soon go bankrupt as a result of banditry, cattle rustling, kidnapping and the activities of many outlawed groups operating across the country that always attack, maim, or kill pastoralists without any just cause.

The warning was contained in a communiqué issued yesterday in Abuja, by the socio-cultural organisation at the end of its National Executive Council (NEC) meeting with its electoral committee members.

The communiqué was signed by National President of MACBAN, Alhaji Hussein Bosso and National Secretary Baba Ngelzarma.

The meeting held at the National Mosque, Abuja, on Friday had in attendance chairmen and secretaries from the 36 states and Abuja and one Ardo from each state as well as the representative of the Sultan of Sokoto, representative Emir of Kano, representative Emir of Zazzau, and representative Emir of Katsina.

The breeders expressed serious concerns over the continuous displacement of thousands of pastoralist families as a result of cattle rustling, banditry and other

and order and that it applies law and order in the execution of its assignment," he said.

According to him, Obiano had performed very well in office and as such, if the agency had anything against him, it should follow the dictates of law, which stated that an accused was treated as innocent until proven guilty.

2023: Abaribe Fights Dirty, Challenges Abia PDP over Zoning As Enugu monarchs endorse Ekweremadu Sunday Aborisade in Abuja Senate Minority Leader, Senator Enyinnaya Abaribe, has said the Abia State chapter of the Peoples Democratic Party (PDP) had no right to stop his ambition to contest next year's governorship election on the grounds of zoning.

Abaribe, who is representing Abia South Senatorial District in the National Assembly,

stated this in a statement yesterday in Abuja.

He was reacting to the decision of the PDP state chapter that the 2023 governorship slot had been zoned to Abia Central and Abia North Senatorial District.

The Senator, in the statement personally signed, quoted relevant sections of the Nigeria's Constitution to declare that nobody had the

Banditry May Ruin Livestock Industry, MACBAN Warns Olawale Ajimotokan in Abuja

wearing shots and drinking water while in the custody of EFCC did not portray the agency as a fair and objective body, ready to abide strictly to rule of law.

"This doesn't speak well of our laws. It smacks of irresponsibility and indecency.

NEC appealed to the EFCC to ensure that it maintains law

forms of insecurity across the country. The association vowed to give maximum support to government and security agencies to deal with the outlaws and bandits.

It also decried the excessive use of force on innocent pastoralists by security agencies and the confiscation of their livestock in the guise of arresting criminals, saying security men should be restrained from going overboard in discharge of their duties.

MACBAN also said it was concerned that the enactment of anti-open grazing laws by some states in southern parts of the country amounted to placing economic sanctions

and social warfare against pastoralist livelihoods.

It expressed appreciation to the Sultan of Sokoto for showing support regarding the plight of pastoralists in the country and assured that it would do whatever it takes to restore dignity and address issues affecting pastoralists with all the seriousness it deserves.

It also urged the Sultan to summon a Fulbe National Conference involving pastoralists leaders, the Fulbe intelligentsia and other critical stakeholders to address the issues of insecurity, economic empowerment and the negative media profiling of Fulbe in most of the national social and mainstream media.

right to stop his dream of becoming the next governor of Abia State.

The statement read: "My attention has been drawn to a document signed by the Abia State Chairman of the Peoples Democratic Party, Dr. Alwell Asiforo purporting that the Abia State PDP has zoned the governorship seat to Abia North and Abia Central.

"I wish to assure all Abians, who are desirous of an end to imposition in Abia State to disregard the purported zoning for the following reasons: While any member of PDP has the right to support anybody for any elective position in Nigeria, it cannot be to the exclusion of any other member.

"It is obvious that the statement was merely formulated to exclude me from the contest. By virtue of section 42(2) of the Constitution of the Federal Republic of Nigeria 1999 as amended, no person or body can exclude Senator Enyinnaya Abaribe (Nma Agha Ndigbo) from contesting and winning the 2023 elections in Abia State.

"All PDP members and Abia citizens are therefore urged to remain calm and participate in the forthcoming congresses and primaries

where your voice will be heard. We will dismantle the cabal that wants to keep Abians subjected to further years of imposition. It is only Abians that will decide who will be their Governor in 2023," Abaribe insisted.

Meanwhile, a former deputy President of the Senate, Senator Ike Ekweremadu, has vowed not to disappoint the people of Enugu State if elected their governor in 2023.

Ekweremadu gave the assurances when he received traditional rulers of Enugu West Senatorial District, his constituency, who paid him a solidarity visit at his Enugu residence.

A statement on Sunday by his media aide, Uche Anichukwu, explained that the development came as the royal fathers gave him their royal blessings and the “Ofo”, which symbolises authority, truth, and justice, describing him as a tested and trusted leader.

The senator said time was ripe to apply the experience, friendship, partnership, and global contacts he acquired over the years through the opportunities given to him

by Enugu people to the transformation of Enugu to a model state.

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DISCOURSE

Harvard Economist Sees Emefiele as the Next Obasanjo Oliver McPherson-Smith

I

t’s not very often that a sitting central bank governor is lauded by throngs of singing and dancing supporters, but backers of CBN governor Godwin Emefiele may have just made history at this weekend’s APC national convention. The political theatre, whether organic or facilitated, is a quirky tribute to a technocrat whose celebrity status usually doesn’t stretch past the Davos city limits.

In a crowded field of candidates for the APC’s presidential nominee, however, it’s unsurprisingly necessary to pull out all the stops to get ahead of the pack.

Emefiele, for his part, has so far kept silent on whether he will formally run.

While others are quick to throw their hats in the ring, the CBN governor appears to be taking the route of a diligent-but-humble public servant who may be pressured into running. Although that path above the fray is well-trodden, Emefiele’s powerful, current position has ruffled plenty of feathers. In February, Premium Times ran an editorial calling on Emefiele to either resign and run, or remain in his post and repudiate any electoral ambitions. Similarly, just days ago the main opposition party, the PDP, offered a 21-tweet salute accusing Emefiele of having “desecrated the sanctity of his office as CBN Governor.” If the governor were to formally enter the arena of partisan politics, there would be intense pressure upon him to resign his tenure as the country’s top banker.

Emefiele

Aside from his powerful post, why does Emefiele draw so much lightning? The APC is expected to select a candidate from the South for the 2023 ticket (some say the south west, specifically, but that remains to be confirmed). Born in Delta state,

Emefiele is described as having “a candidature with South South and Igbo background.” His professional experience is also strong. He came to the apex bank with 20 years’ of experience in the private sector, most notably as managing director of the household name

Zenith Bank. Additionally, appointed under PDP president Goodluck Jonathan in 2014, Emefiele has worked with (and survived in his post under) governments led by both major parties.

This mix of fortuitous zoning happenstance, noteworthy private sector experience, and political longevity at the height of national politics makes Emefiele a serious contender.

But no one plays in the big league for that long without controversy.

Over the years, Emefiele has faced accusations of impropriety, lawlessness, and mismanagement. And that’s all before he was considered a potential presidential candidate.

The glaring lacuna in Emefiele’s resume is electoral success. Rotimi Amaechi and Nasir El-Rufai—potential rival candidates within the APC—have both proven that they can win elections at the state-level. Is it necessary? Well, both Umaru Yar’Adua (Katsina) and Goodluck Jonathan (Bayelsa) won gubernatorial elections before winning the presidency. But both Olusegun Obasanjo and Muhammadu Buhari served in unelected national-level positions, before eventually prevailing in nation-wide polls. If the APC ticket will indeed be led by a candidate from the south, could Emefiele be the next Obasanjo?

•Oliver McPherson-Smith, an Harvard Economist, writes from the USA

FEATURE

Agriculture: Nigerians in the Throes of Rising Food Prices and Hunger Prisca Ihekwoaba

H

istorically, society has evolved from subsistence through to a modernised era. This has come with peculiar challenges, and Nigeria is no exception.

Household upkeep used to come from the farms and sometimes a level of batter as the needs were usually basic. Modernisation with the attendant new knowledge necessitated more alternatives with increased costs.

A realistic view would be to match the increased demand with more and better production. Unfortunately, this has become impossible in our nation, which is riddled with corruption- the nation is replete with a litany of tales of stolen and diverted or outrightly embezzled agricultural intervention funds.

Corruption in agricultural production poses problems for large and small landholders around the country. Corruption issues affect land title and tenure, credit availability, quality of supplies, water allocation, marketing and the development of agric-businesses.

Corruption widens the already yawning gap between the rich and the poor in many states of Nigeria. It inhibits social and economic developments, negatively impacting attempts by international and regional development institutions to fight hunger and famine coherently and systematically.

High frequency of labour mobility, limited

Minister of Agriculture and Rural Development, Dr. Mohammed Abubakar involvement of input agencies, and intricacies of technology transfer lead to poor harvest.

Nepotism is another issue to tackle. A typical case will be comparing the tenure of the one-time minister of agriculture, Prof.

Adesina, with all the other former ministers

of agriculture.

There is also inefficiency. Often, Nigerians are told stories of racketeering in the distribution of farm inputs like fertilisers, seedlings and irrigation equipment. Offering land clearing services at the wrong season with poor earning power. Some of the lowest wages in Africa are paid in Nigeria, with large segments of the population unemployed and underpaid. Suffice to say that a nation without agricultural and food subsidies cannot properly feed its population. The resultant effect of a weak economy and earning power makes it mandatory that goods and services become competitive as demand and supply forces drive the market. Prices usually settle at an equilibrium point where it is usually beyond the reach of the common man.

The scourge of insurgency in the food basket of Nigeria in the North Central and North East has almost rendered farming activities inactive. Where cultivation is done, harvesting is impossible in most cases. This leads to the loss of revenue to the point where the farmer cannot return to the farm. The poor road infrastructure and the low rail penetration make even the poor harvest difficult to be distributed. The near or total breakdown of the security architecture contributes in no small way to this unfortunate situation.

There is also a dearth or absence of storage and processing facilities.

The near or total absence of genetically

modified foods in Nigeria as a result of perceived safety issues, regulatory problems and suspected health challenges means that more and better quantities of food cannot be produced over a shorter period to address the ever-increasing food demand as a result of the rapidly growing population.

The low health indices with the resultant poor health of large segments of the farming population mean that a lot of man-hours is lost, leading to low yields.

There is also the menace of middlemen.

The age-long role of middlemen in trade, exchanges and commodity businesses are all too well known. The farmer is poor, barely able to carry on farming activities. He is left with no choice but to hand his harvest to a middleman who will then be saddled with the responsibilities of packing, storing, preserving and transporting the same to the cities and market centres all over the nation.

He then becomes the ultimate determinant of pricing the goods with a strong desire to exploit and maximise profit. The consumers left with little or no choice must then find a way to pay these exorbitant prices even at the expense of reducing the quality and quantity of these food items.

The government needs to overhaul farming activities and harvest handling for things to change for its people.

•Ihekwoaba O. Prisca writes from Lagos. priscamammi@gmail.com

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MONDAY MARCH 28, 2022 ˾ T H I S D AY

53

NEWS

Group Urges Emefiele to Run for Presidency in 2023 Another wants APC to adopt him as consensus candidate Ugo Aliogo Nigeria Patriot Quest (NPQ) has urged the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele to join the race for the presidential seat.

The group in a statement made available to THISDAY by its Co-coordinator, Ahmed Tijani, said they would continue to make the call because Nigeria is now at a crossroads and would require the care and nurture of a man like Emefiele to take the country to the promised land of rapid development.

This just is another group, The Centre for Integrity and Good Governance (CIGG), has demanded the adoption of Emefiele as the presidential candidate of the All Progressives Congress (APC) in the 2023 elections.

CIGG, in a press statement issued by its Convener, Mr. Waheed Aderibigbe and Co-convener, Mr. Obinna Ukariaku, congratulated Alhaji Abdullahi Adamu on his emergence through consensus as the National Chairman of the APC. It urged Adamu and the APC leadership to chart a

new path in the recruitment process of the party’s flagbearer in the 2023 Presidential election by overlooking those it called “professional politicians”, all of

whom have failed the nation in the past.

Speaking on the reasons for calling for Emefiele to run for the presidency, the NPQ noted in the

past two decades, Nigerians have entrusted their fate in the hands of professional politicians with barely anything to show for it.

“If we must be honest to

ourselves, we can say without any fear of contradiction, which the professional politicians have succeeded in running the nation aground. We have witnessed a

relay race of politicians handing over the baton of leadership from one uneventful administration to the other. Our patience is totally exhausted,” the group said.

CAREER BUILDING IN FOCUS…

L-R: Principal Consultant, NECCI Limited, Nkechi Ali-Balogun; Managing Director/CEO, Financial Institutions Training Centre (FITC), Chizor Malize; Group Head, Strategic Brand Management and Communications, Polaris Bank Limited, Nduneche Ezurike; Founder, WILAN Global, Abosede George- Ogan and Managing Consultant, iamaCHAMP Limited, Abiola Salami, at the Employee Market Place (EMP) event themed: ‘Millennial Women in the Workplace: Building Career Resilience Post-Pandemic,’ in Lagos..recently

Police, PDP Trade Words Committee Member Advises PDP to Adhere to Zoning over Arrest of Governor’s Aide in Kwara Chuks Okocha in Abuja

Hammed ShittuinIlorin

Kwara State Police command and the opposition party, Peoples Democratic Party(PDP) in the state yesterday traded words on the purported arrest of the Senior Special Assistant (SSA) to the state governor, Alhaji Abdulrahman Abdulrazaq on Rural Mobilization, Mr. Musibau Esinrogunjo.

Esinrogunjo, was alleged to have assaulted a Traffic Warden while on duty on Ahmadu Bello way on March 16,2022 on his way to the Government House Ilorin, while a weed suspected to be Indian hemp and an ammunition found in his vehicle during a search consequently conducted.

But while the Police in a statement yesterday signed by Police Public Relations Officer (PPRO), Mr. Ajayi Okasanmi said that Esinrogunjo was not arrested for alleged possession of hard drug

and ammunition but for assault and traffic offence, the state branch of PDP called for the prosecution of the governor’s aide, adding that the matter should not be swept under the table.

A video clip on how the governor’s aide was allegedly caught by policemen with a cartridge and substance suspected to be hard drug had gone viral on social media.

Okasanmi said in a statement that the viral video in question was posted by a “mischievous individual” to achieve a result still unknown to the Command.

The statement read:“What actually transpired in the day was that, the man in the video later identified to be one Musibau Esinrogunjo was caught committing a traffic offence by driving against traffic, thereby causing a serious traffic hold-up at NYSC Secretariat junction, Ahmadu Bello Way, Ilorin.

As the zoning debate father momentum, a member of the PDP 37-man Zoning Committee, Nze Fidelis Oluchukwu has sent a memoranda to the committee, stating that for PDP to dump zoning at this crucial moment is to render the party prostrate and dead without conscience.

He also reminded members of the committee how former Vice president, Atiku Abubakar;

former senate president, Bukola Saraki and Aminu Tambuwal, all presidential aspirants in 2015 walked out on President Goodluck Jonathan because of zoning.

He said in the memoranda to his colleagues in the 37-man Zoning Committee that: “It is pertinent to recall that, in 2015, His Excellency Atiku Abubakar, Distinguished Senator Olusola Saraki, Rt Hon Aminu Tambuwal and others stormed out of the PDP in protest, in opposition to

continued Jonathan Presidency.”

Quoting George Bernard Shaw, Ozichukwu said: “The most tragic thing in the world is a man of genius who is not a man of his words, a man of honour. And the legendary Marcus Tullius Cicero lent his eternal voice, that, “ Ability without honour is useless.”

Ozichukwu, who is a former National Vice Chairman of PDP went back to history to justify why the PDP must zone the PDP presidential ticket to the South

said that in his book, Rotational Presidency, Anthony A Akinola opined that “A constitution must address the history and ethnological realities of a nation.

It was in recognition of the ethnological factors of Nigeria,... that the defunct NPN constructed a model of ‘Zoning’ designed to alternate the geo-ethnic origin of the party’s presidential, vice presidential and chairmanship candidates from one election to the other.”

2023: Group Mobilises Young Nigerians against ‘Recycled Politicians’ Seriki Adinoyi in Jos An inter-ethnic pressure group, We2geda has decried the poor accountability of past political leaders in Nigeria who only make promises but never fullfil them, calling on electorate to unite against such recycled politicians that have never been accountable to Nigerians in 2023.

Addressing the press during the official inauguration of We2geda in Jos, Chairman,

Board of Trustees of the youth group drawn from across religious divides, Alhaji Hussaini AbdulKarim said it was unfortunate and disheartening that after elections, elected leaders shun the electorate that voted them to power, and refuse to be accountable to them.

He said the group was being inaugurated across all the geopolitical zones to sensitize Nigerians against politicians that only abandon them to their

fate after elections, adding that it was high time youths took over governance from these recycled politicians.

He added that the choice of Jos for the inauguration was made considering that it is a melting point for all Nigerians.

AbdulKarim said: “If in every electoral ward We2geda brings 250 persons of like minds, Nigeria will produce the best of leaders, not the ones that will take us for granted.”

In an opening remark, Hon Shina Peller said: “The official launch of We2geda as meant to mobilize youths and technocrats to have a rethink on electing political leaders in 2023, and to caution them to have a new way of seeing politics.

Represented by Adebo Jonathan, Peller said: “Respect is reciprocal; our leaders do not expect us to respect them when they don’t live up to their obligations towards us.”

Nigerian Women Urged to Osun 2022: Don’t be Distracted by Opposition’s Antics, Oyetola Urges Electorate State Conference of Artists the state, urged them not to be ,we tasked all our members at Engage in Global Market Yinka Kolawole in Osogbo Designers, House and Spraying agitated, but to remain resolute, all level to employ door-to-door Michael Olugbode inAbuja Nigerian women have been urged to engage competitively in the intra-African trade and in the global market place.

Delivering a speech at the International Trade Centre (ITC) hosted training workshop on ‘Trade Competitiveness, Export Readiness and Visibility: Diagnosing and Supporting Women Businesses to Maximise the Opportunities in the African Continental Free Trade Area (AFCFTA)’, in Abuja, the National Coordinator, Nigerian Network of Women Exporters of Services (NNWES), Nkiru Okpala-Perkins said the programme was designed to aid women to identify their business strengths and weakness; and pick up power-tools that would support their economic growth, guide them in engaging competitively in the intra-African trade and indeed, the globe market place.

She said the programme is coming at a time when it is

imperative that women must be at the frontline of trade.

Okpala-Perkins noted that the International Trade Centre (ITC) in Geneva, a joint agency of the United Nations, and the World Trade Organisation (WTO), has developed the ‘SheTrades’ African Continental Free Trade Area (AfCFTA) Project for African Women in Business, with Nigeria being a beneficiary of it, and “we are here to ensure its smooth implementation.”

Okpala-Perkins explained that the major objectives of the SheTrades AfCFTA project are to help women have increased understanding of the AfCFTA, and the opportunities related to their countries and sectors; create awareness and better understanding of export requirements, procedures, and solutions; have proper assessment of their company’s readiness to enter regional markets, become aware of the potential export strategies and gain insight into their business weaknesses and strengths.

Osun State Governor, Gboyega Oyeola, has urged the electorate in the state not to fall for the antics of the opposition parties, who he said are out to distract them ahead of the July 16 governorship election in the state.

Oyetola stated this during an engagement programme organised by the state Civic Engagement Centre for Osun

Painter yesterday in Osogbo.

Represented by his Special Adviser on Civic Engagement, Mr. Olatunbosun Oyintiloye, the governor also urged members of his party, All Progressives Congress (APC) and the electorate to remain focus on the task of his reelection bid.

Oyetola, who noted that APC is still intact and indivisible in

unflinching and committed to the task ahead, noting that the mission is achievable and accomplishable.

The governor urged the party members to continue to educate the populace on the need for stability, sustainability and continuity of his people-oriented style of governance.

“As election is approaching

strategy to remind the electorate why our administration should be given a second chance to complete its developmental agenda for the state.

“Osun State APC is strong and indivisible. I want to appeal to our members as well as the electorate not to be deceived or distracted by deceit made by opposition parties.

Governorship Candidate, Running Mate Dump PDP for NNPP in Kano Ibrahim Shuaibu in Kano Kano State Chapter of People’s Democratic Party (PDP) was thrown into confusion yesterday following the exit of its candidate in 2019 governorship election, Abba Kabir Yusuf and his running mate, Comrade Aminu Abdulsalam Gwarzo, to the New Nigeria Peoples Party (NNPP).

The Kwankwasiyya faction dominated the PDP in the state, and their exit may have reduced the political fortunes of the platform as the nation marched towards the 2023 General election.

Yusuf lost the governorship battle to Dr. Abdullahi Umar Ganduje, the incumbent governor of the state in the run-off three years ago.

The former governorship candidate’s defection to the

NNPP came on the heels of rumour of alleged plot by his political godfather, Rabiu Musa Kwankwaso to join the party on March 30.

At a brief, but elaborate ceremony at his Diso Ward in Gwale Local Government area of Kano State, Yusuf said PDP has failed the people of Kano and its leader in the state, Rabiu Kwankwaso, despite massively voting for the party in 2019.

He explained that there is no difference between his former party, and the ruling All Progressives Congress (APC).

The former governorship candidate said his decision to dump the opposition party was sequel to the yearning of his teeming supporters.

Also, the running mate,Gwarzo defected to NNPP at his Gwarzo ward yesterday.

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NEWS XTRA

Two Drug Dealers Excrete 165 Wraps of Cocaine in NDLEA’s Custody Michael Olugbode in Abuja

Two drug traffickers, Mr. Elvis Iro (53), and Mr. Christian Uwaezuoke (42), have excreted a total of 165 wraps of cocaine following their arrest at the Nnamdi Azikiwe International Airport, Abuja, by operatives of the National Drug Law Enforcement Agency, NDLEA. According to the Spokesman of the NDLEA, Mr. Femi Babafemi, the two excreted the drugs which they ingested while under observation in the agency’s custody.

Babafemi revealed that Elvis, who is a father of four children, hailed from Abiriba, Ohafia Local Government Area of Abia State, was arrested on Saturday, March 19, upon his arrival on board Ethiopian Airline flight from

Addis-Ababa for ingesting 65 pellets of cocaine weighing 1.376 kilogrammes.

He said that Elvis claimed during preliminary interrogation that he was an interior decorator but had to go into drug trafficking because he needed money to start a coffee business, take care of his family and stock his newly acquired shop with curtain materials/accessories in Lagos.

He said he would have been paid $1,000 on successful delivery of the drug in Abuja.

Another passenger on the same flight, Uwaezuoke was also arrested on arrival for ingesting 100 pellets of cocaine with a total weight of 2.243 kilogrammes.

He also said that Uwaezuoke, who hailed from Ojoto, Idemili South Local

Government Area of Anambra State, claimed that he was a businessman dealing in baby’s wears before venturing into

A 92-year-old third substantive Registrar of the then University of Ife, (now Obafemi Awolowo University), Ile Ife, Osun State, Chief Alex Ajayi, has described as a gross debasement of the Ivory Towers the recent attack on OAU by protesters over the tussle on the appointment of a new Vice Chancellor, Prof.

Adebayo Simeon Banire.

Ajayi, who was at different times OAU’s Governing Council member and registrar, posited that appointment of a VC in any federal institution is by merit, and can’t be predicated on ethnicity and other sentiments.

The first graduate of Ado Ekiti metropolis stated this in a chat with journalists in Ado Ekiti, Ekiti State, yesterday over the attack by indigenes and traditionalists of Ile Ife on the university over the appointment of a new vice chancellor.

The attack was said to have been propelled by the intention of some Ile- Ife indigenes to have one of the professors from that town appointed as the VC. In his view, Ajayi described the assailants as myopic and barbaric with their unwarranted action, saying federal universities appoint their VCs based on merit and not by pandering to narrow sentiment.

Benjamin Nworie in Abakaliki

A presidential aspirant of the Peoples Democratic Party(PDP), Sam Ohuabunwa has said that he is most qualified than other aspirants to succeed President Muhammadu Buhari in 2023.

Ohuabunwa, who stated this in Abakaliki noted that they will resist any plot to deny Igbos presidency in 2023.

“The plot will not work.

God Himself will not sanction injustice. I am still hopeful that

Ajayi, therefore, urged Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, to swiftly intervene and rein in on those he described as “uninformed attackers,” and prevent them from defiling the school that commands high regard nationally and globally.

He said: “For 10 years, 19661976, I was appointed by the military government of late General Aguiyi Ironsi and Lt Col Adekunle Fajuyi of the Western Region as a pioneer member of the statutory governing council of the university and also invited by the university into the administration to act as deputy registrar/acting registrar in 1969.

Pro-Chancellors Canvass Strict Regulation, Control of Private Universities

Yinka Kolawole in Osogbo

The Chairman, Committee of Pro-Chancellors of State-owned Universities in Nigeria (COPSUN), Mallam Yusuf Alli, at the weekend canvassed for strict regulation and control, and if possible, a moratorium should also be placed on the establishment of private universities in the country.

Alli stated this at the end of the 6th biennial conference of the Committee of Pro-Chancellors of State-owned Universities in Nigeria held at the Osun State University, Osogbo, where the stakeholders reviewed the state of university education in Nigeria and proffered the way forward.

The chairman, who is the pro-chancellor of the Osun State University in a communique issued and signed by him, noted that the recommendation was borne out of the reality that the creation of new private universities that currently totaled 99 has not added any value to the enrolment of students or access of the same to university education in Nigeria.

He reminded as well as cautioned the federal government that the continuous establishment of private universities in the country without strict regulation would be dangerous to the existence of private universities.

Alli also pointed out that in

Nigeria, the establishment of state-owned universities has become a ‘constituency project.’

Every local government area and state seek to establish and own a university.

According to him “The proliferation of state universities at the same time that the existing ones are not adequately funded run against the grain. State government should, therefore, support their institutions to deliver quality education. Adequate funding will facilitate and promote research development and position the university as the real engine for knowledge generation, innovation, and overall national development.”

Betta Edu Emerges Youngest National Women Leader The All Progressives Congress (APC) has made history again as a youth-friendly political party as its convention produced the youngest National Women Leader, Dr. Betta Edu from Cross River State, who is 36 years old.

In a keenly contested election, Edu scored 2,662 votes to defeat her closest rival, Helen Boco who scored 117.

Ahead the general election, Edu has the big mandate of leading from the front and rallying women to get more involved in party politics.

And her quote prior to her election is an indication that she is not unaware of the tasks ahead. “We need women at all levels, including the top, to change the dynamic, reshape

the conversation, to make sure women’s voices are heard and heeded, not overlooked and ignored. The Interest of Nigeria Women remains my major interest and priority,” she had said.

Reacting to her victory, Edu thanked delegates from all the states, party leaders from Cross River and thanked specially Governor Ben Ayade for the support and confidence in her.

She also thanked all the party leaders from the South-south and APC women young and old for the support. She promised to bring women together and ensure their unity as they trudge on to the next level.

According to a statement, the new women leader is a

Thursday, March 17, to buy the hard drug for $10,000 and returned on Saturday, March 19, when he was arrested.

He said he sold his land in his village and took loans from friends to be able to raise money to buy the drug.

2023: I’m Still Working Hard to Realise My Presidential Ambition, Says Ohuabunwa

Attack on OAU Grossly Desecrates Varsity System, Says Ex-Registrar

Victor Ogunje in Ado Ekiti

drug trafficking.

Uwaezuoke disclosed during preliminary interrogation that he traveled to Addis Ababa on

goal-getter who is driven by her strong belief in excellence, integrity, hard work, resilience, diligence and effective execution.

“She is an excellent manager whose competence and ingenuity have laid credence to the capacity of the Nigerian woman to achieve success when given the necessary education and challenged with the developmental assignments.

Edu was born on 27th of October 1986. She hails from Ibalebo village in Abi Local Government Area, Cross River State. Betta completed her secondary education at Federal Government Girls College, Calabar, she is a graduate of medicine and surgery from the University of Calabar.

wise counsel will still prevail as most God-fearing Nigerians are in support of justice. They support a shift to the East and

by God’s grace, it will happen.”

The presidential aspirant also denied insinuations that Igbo presidential aspirants had lost steam and were fizzling out of their presidential race.

He said: “It’s not true, that Igbo presidential aspirants have lost steam and are not consulting and campaigning again. Yesterday, I was in the

South-east. On Thursday, I was in Delta and I met with the PDP caucus there. On Monday, I will be going to Oyo and from Oyo, to Kwara. We are moving.

“It’s just that we don’t have the resources the way Tinubu has. He has so much money and if he coughs, everybody hears about it. But we are doing much more than he does. Our move is towards the delegates, because we are not in the general elections

yet. It’s the PDP delegates we are focusing on now; we are not entertaining the general public.

“Therefore, we are strategic in our moves. It’s not true that Igbo presidential aspirants are not doing anything about their ambition. If anybody is not moving, I am moving and strategising. I must tell you that in the last two or three weeks, I have done so much to ensure I clinch the PDP Presidential ticket.

2023: Sultan Cautions Politicians against Desperation Segun Awofadeji in Bauchi

As the 2023 electioneering approaches in Nigeria, the Sultan of Sokoto, Alhaji Muhammad Saad Abubakar III, has warned politicians against playing politics of do-or-die.

The Nigerian Muslim supreme leader gave the warning while speaking during the closing ceremony of the 36th Qur’anic Recitation Competition at the Abubakar Tafawa Balewa International Stadium in Bauchi

at weekend.

The Sultan, while appealing to politicians not to take politics as a must-win game, reminded them that it is only God that gives power to whom he wishes and takes it from any person He so wishes at anytime.

Abubakar, who advised politicians to be mindful of how they treat the electorate, said they were voted to serve the masses and not for the masses to serve them.

According to him, “By 2023,

the politicians will be up in their normal game, but please, play politics with the fear of the Almighty Allah, knowing that He is the only one who gives power to whom He wants at the time, and takes it away from you when He wants.

“So, do not make it a do-ordie affair because Allah already knows who is going to be a leader in 2023 whether at state or federal level, but we don’t know because we are mere mortals.”

55

MONDAY, ͺ΀˜ ͺ͸ͺͺ ˾ T H I S D AY

MONDAYSPORTS

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

0811 181 3083 SMS ONLY

Beyond Pride, N5bn at Stake as Super Eagles Battle Ghana for World Cup Ticket Free bus rides for fans to fill up 60,000 MKO Stadium to cheer Eagles

Duro Ikhazuagbe Beyond the prestige of making Ghana suffer a back-to-back absence from the biggest stage of global football, Nigeria’s Super Eagles stand to reap a bountiful $12million (about N4.996billion) if they defeat the Black Stars in the second leg of the 2022 World Cup playoff in Abuja tomorrow.

Going by the 2022 FIFA World Cup price money, if Eagles who played a goalless draw with the Black Stars last Friday in Kumasi, are able to surmount the hurdle posed by Ghana, they stand to get $10million for taking part in the group stage of Qatar 2022.

There is additional $2million for the Nigeria Football Federation (NFF) to help prepare

Ahmed Musa: Eagles Fully Focused on 'Crucial 90 Minutes' Nigeria’s Super Eagles are fully concentrated on Tuesday’s FIFA World Cup Qatar 2022 playoff duel with Ghana’s Black Stars, with the players determined to put up a performance that will earn Nigeria a seventh appearance at football’s biggest houseparty since her 1994 debut.

Captain Ahmed Musa said yesterday: “All the players, including myself, want to go to the World Cup. For me, it is very important because it

Ahmed Musa

could be my last World Cup. I enjoyed the last two finals that I participated in, Brazil 2014 and Russia 2018. I want to experience it again. Most of the players in the present squad have not been to the World Cup and they desire to be there.

“We all know it won’t be easy.

Ghana will come here to do battle but we are ready for whatever they turn up with. I will not say more than that,” observed the Fatih Karagumruk forward in the Turkish Lig. Ghana paced the pitch but Nigeria created more chances in a high-octane first leg at a paroxysmic Baba Yara Stadium in Kumasi on Friday. Both teams failed to score in a 0-0 scoreline.

Joseph Ayodele-Aribo, Emmanuel Dennis and Moses Simon came close and Moroccan referee Rédouane Jiyed only annulled his own decision for a penalty kick in favour of Nigeria after a VAR review indicated an earlier infringement.

Nigeria has the distinct advantage to pull through to Qatar at the Moshood Abiola National Stadium, with the Eagles to play in front of a capacity 60,000 fans after the Nigeria Football Federation secured a go-ahead from the Confederation of African Football for maximum capacity.

Access Bank Backs Women’s T20 Invitational Cricket Tourney Nigeria’s leading bank, Access Bank Plc has thrown its weight behind the NCF Women’s T20I Invitational Tournament starting today at the Tafawa Balewa Square Cricket Oval in Lagos.

President of the Nigeria Cricket Federation (NCF), Uyi Akpata, said the partnership means a lot to the vision of the federation and will help drive the inclusion goal for the female gender to a new height in the sport.

“We are glad that a brand like Access Bank finds what we are doing as a good avenue to express their women’s empowerment agenda and connect with the broader African communities where they operate.

It’s a win-win for all parties, but more importantly, as a federation, I am very glad that we can reach more people with our goal, with Access Bank behind us.”

Group Head, Corporate Communication of Access Bank, Amaechi Okobi, said that the Bank finds alignment between what the cricket federation has outlined and what the bank has as its values.

“As a Pan-African Bank, we always get excited when we see

opportunities to connect with more of our customers across the continent. We have five African countries converging for this event and the thing they have in common, apart from the game they have come play, is Access Bank,” he added.

Ghana, Sierra Leone, The Gambia and Rwandan cricket teams have all arrived Lagos and had practice rounds ahead of the weeklong Women’s T20 Invitational Tournament that would be concluded on Sunday April 3rd, 2022.

Akpata said that the game is an expression of the growing interest being shown by female gender for the game of cricket.

“We have a growing number of female cricket players, the biggest we have had in the history of the game and it is driven by our renewed developmental agenda. And this event only goes to underscore the pattern and sustain the path we are on.

The opening match is between Nigeria and Sierra Leone, at 9:30am this morning to be followed by a Ghana, Rwanda tie later in the day.

the team for participation in the first Mundial to hold in the Middle East between November and December later this year.

Further progress for Eagles in the course of the tournament means more cash coming into the coffers of the NFF. The 2022 FIFA World Cup prize money pool has increased by 80 per cent compared to when Brazil hosted the 2014 edition won by Germany. Eagles crashed out to France in Brasília in the second round.

The Black Stars who failed to qualify for the 2018 edition

in Russia missed out of the $9.5million pocketed by the Super Eagles.

With the goalless draw from the first leg in Kumasi last Friday, the Super Eagles will need to up their game to put smiles on the faces of football-loving Nigerians.

Already, the NFF has secured the go-ahead of CAF to fill up the Moshood Abiola National Stadium to its 60,000 capacity on Tuesday.

The federation confirmed yesterday that a committee set up by the Federal Ministry of

Youth and Sports and including officials of the NFF has concluded plans to give free bus ride to willing fans to the venue on match day.

Communications Director of the NFF, Ademola Olajire, hinted yesterday that buses will be available at places such as Keffi, Auta Balefi, Masaka, Maraba, Nyanya, Orozo, Kurudu, Jikoyi, Suleja Madalla, Zuba and DeiDei. “There will also be buses from Kubwa, Gwagwalada, Kuje, Lugbe, Mpape, Life Camp, Eagle Square, Old Parade Ground, Area 3, Kabusa, Apo Mechanic

and Gwarinpa, all heading to the Moshood Abiola National Stadium.

The last time both countries were involved in a FIFA World Cup qualifying was in 2001, when they finished 0-0 in Accra and Nigeria swept aside their visitors 3-0 in Port Harcourt in July 2001 to qualify for Korea/ Japan.

Nigeria has been at every FIFA World Cup finals since 1994, bar the 2006 edition in Germany, and reached the Round of 16 in USA 1994, France 1998 and Brazil 2014.

Super Eagles at training ahead of Tuesday’s winner-takes-all clash with Black Stars of Ghana

Igoche Mark: My Board Set to Correct Decay in Domestic Basketball Duro Ikhazuagbe Factional President of the Nigeria Basketball Federation (NBBF), Igoche Mark, has described the decay in domestic basketball as the reason he came out to run for the top post of the federation.

Mark was elected president in a parallel election reportedly supervised by the sports ministry in Abuja on January 31. Same day in Benin City, the Edo State capital, incumbent NBBF President, Musa Amadu-Kida, was also re-elected, with world body FIBA officials in attendance.

IG, as the promoter of Mark Mentors Basketball Club is fondly called insisted at a media session in Lagos at the weekend that the rot was alarming and needed drastic measures to arrest the situation.

“The decay in Nigerian basketball has been alarming in the last four years, that’s why I joined the race for the election and January 31, I got elected NBBF president in Abuja. It’s a heavy task, but it’s doable,” began Mark.

To get the groove back on track, Mark stressed that his focus now would be on grassroots

Igoche Mark...dreams better future for domestic basketball development of the game.

“We want to focus on grassroots basketball development, we have the talents but we don’t harness them. If we had eight NBA Drafts last time, it means we have the talents. Then why is it not impacting on the local scene? That’s the problem and

reason we want to focus on the grassroots.

“What’s killing the game here is lack of facilities. Playing on hard surfaces isn’t good, it shortens the careers of the players. We want to bring back age-grade events and the local leagues; without the local leagues, we can’t progress,” reasoned the factional NBBF President.

Pointing at former Players’ representative on the last NBBF board, Ejike Ugboaja who was seated by him at the press conference, Mark said “Ejike Ugboaja was drafted from the local league to the NBA. If we had a sustainable league, only God knows how many players would have made it like Ejike.”

He added, “I know players who were forced to retire from basketball, not because they are old, but because of inactivity in the last five years. We have very good players who left to become labourers and casual workers, but they could have gone farther in the game if they were given the opportunity.

“That’s what politics does, so I think it’s time we stopped this. My dream was to play in the NBA but I couldn’t, but I’m

here to help the players achieve that. And with that, I’ll be much fulfilled.”

Mark dismissed insinuations that he was planted by some godfathers to further destabilise the basketball sector, adding that he came on board to help revive and reposition the sport.

“For anybody to think that I was planted by some people in the 21st century is wrong. Nobody pushed me when I started, why is it now,” he queried.

On the legitimacy of his board, after world body FIBA reportedly endorsed Ahmadu-Kida’s board, Mark replied, “There was only one election that took place and that’s the one that followed the ministry’s guidelines. I don’t know where another (election) came from.

“FIBA is foreign, they don’t dictate what happens in Nigeria.

The ministry is the custodian of sports in Nigeria and basketball isn’t an exception. What the ministry says is what we will hold in Nigeria. For the past years, we didn’t see FIBA in Nigeria.

The new face of basketball is like a moving train. Soon, you’ll see our efforts in moving Nigerian basketball forward.”

TR

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MISSILE Soludo to IPOB, Others

“Every Monday sit-at-home must end in Anambra. Normal activities must resume in earnest. With the sit-at-home, the South-east economy is sinking gradually. It is high time we came back to our senses and do the right thing. Any market leader who fails to mobilise traders in his market will be sanctioned; and any trader who fails to open his shop for business every Monday will also face sanction…”

– Anambra State Governor, Chukwuma Soludo, warning the sit-at-home adherents to stop it.

MAHMUDJEGA VIEW FROM THE GALLERY

Slow Motion Consensus

T

hose of us who watched the convention of the ruling APC on live TV on Saturday evening to Sunday morning/early afternoon were flabbergasted by its protracted character. New Chairman Abdullahi Adamu read his acceptance speech at noon on Sunday, having sat through the jostling and horse-trading for 30 hours. All the delay was attributable to the fact that, except for the all-important post of chairman, maneuvers to achieve “consensus” candidates were carried out only when delegates were already seated, waiting to cast their ballots.

At one point the masters of ceremony were pointing to one shed, saying anything to do with consensus and withdrawal should be directed to that shed, while the main shed should be left for election committee members.

Some contestants who were alleged by their state party chairmen to have withdrawn from the race stormed the podium and loudly denied it. One young man who was contesting for youth leader wept as he announced his withdrawal. Yet another aspirant for zonal youth leader chided the party for ignoring the youth as he withdrew.

Why didn’t they do all of that before they arrived at the convention venue, as PDP did late last year? Sure APC is much larger than PDP, if the number of states controlled by it is anything to go by. If we are to believe APC’s registration figures that 41 million people, more than a third of all the adults in Nigeria, are its members, than surely it is a large organization. The stakes are also much higher in occupying the ruling party’s national and zonal offices, not the least because the senior offices are often accompanied by chairmanship of important federal agencies. APC also helped itself by amending its constitution to transfer the election of zonal officers to zonal party chapters, thus reducing the number from last night’s 78.

Even though rumours flew around for many weeks in political circles and in the news media that President Muhammadu Buhari preferred Senator Abdullahi Adamu as party chairman, it was only last Wednesday that Buhari met with the aspirants and asked them to concede to Adamu. He had met with APC governors a few hours earlier.

They, apparently, were the ones that urged him to meet with the aspirants, because he preferred the governors to carry out his wishes while he remained in the background.

Buhari had learnt the hard way that giving instructions to APC governors in the background, without showing his hand, was open to dangerous misinterpretation and overzealousness, as happened with the abortive coup against the Caretaker Chairman, Mai Mala Buni. The push to throw out the CECPC leadership was publicly attributed to Buhari’s mandate, and from London he had to issue a statement denying the act and chided the governors responsible for the clumsy deed.

Still, by the time Buhari met with the

Adamu

chairmanship aspirants, it was quite late in the day and many of them had been running around the country, mobilizing support and erecting huge billboards.

One former aspirant said yesterday that he spent over N100million, and he wasn’t even among the leading aspirants. It was only on Saturday morning that Senator George Akume wrote a half-hearted letter conveying the decision of six aspirants to quit the race. Akume was on slippery ground because he is a serving Buhari minister. It looked like he cajoled the others to withdraw, lest he incurred the president’s political wrath. Otherwise Akume was qualified to be party chairman, as a former permanent secretary, governor, senator and minister.

Ever the calculating strategist, Asiwaju Bola Tinubu wanted Akume as chairman in case he himself wins the party’s presidential ticket later this year and is saddled with a Muslim-Muslim ticket.

Yet, in terms of political experience and apparent character strength, APC could not have produced a chairman better than Senator

Abdullahi Adamu. As students back in the late 1970s, we read a lot about him when, as NPN Chairman in the old Plateau State, he really gave NPP’s Governor Solomon Lar a good run for his money. Since then Adamu has been a federal minister, twoterm state governor, the first chairman of Nigeria Governors’ Forum and three-term senator. It is a political career record almost without equal in this Republic, plus his firm disposition and very sharp intellect.

APC however had a rough time enforcing its consensus list with respect to the second most important party post, i.e. national secretary. It took hours of cajoling, right there on convention ground, in full view of live TV cameras, before former Minister of Communications Adebayo Shittu was dragged to the podium to step down for Senator Iyiola Omisore. Aremo Segun Osoba firmly clutched Shittu’s hands as he dragged him to the podium, profusely apologised to him “on behalf of the Southwest and the Yoruba nation” and showered encomiums on him.

While Osoba spoke, Shittu’s face was the most ashen that I have seen in a long time.

When it was his turn to speak, Shittu said he was very angry because he “was taken for granted,” probably meaning he was not properly lobbied to withdraw for Omisore.

A younger contestant from Shittu’s native Oyo State however said something equally telling. He said traditionally, the Southwestern state that is not APC-controlled is given the first shot at the top available national party office. Oyo is the only non-APC controlled state in the region.

One thing that Osoba said, which Shittu also confirmed, was that in 2015 Buhari appointed him minister without recommendation from the party in the region.

If that was the case, why should Shittu be angry now, when he is paid back in the same coins of party non-consultation? In any case, there is a good strategic reason for not making him the national secretary, which no one wanted to talk about publicly.

It is the sensitive factor of religion. Shittu is a Muslim, for that matter a well-known

The biggest gaffe of the long night was when chairman of the electoral committee, Jigawa State Governor, Mohammed Badaru Abubakar, declared “Abdullahi Adamu Aleiro” as the chairman, mixing his name up with another senator, former Kebbi State Governor, Mohammed Adamu Aleiro. Kogi State Governor Yahaya Bello jumped to his feet, rushed to Badaru and whispered in his ears, prompting him to correct the mistake

Muslim activist. Religion is not supposed to be a potent political factor in the Southwest but party leaders in the region must still be wary, lest they open themselves to media blackmail.

They might however stumble into blackmail of another sort, since new National Secretary Iyiola Omisore has serious controversies hanging on his neck.

Opponents could be relied upon to look for weak links in the APC leadership chain, and Omisore could be one of such.

Besides, he managed to dislodge the man earlier touted to be the Buhari-approved consensus candidate, so trouble may come from various directions.

The biggest gaffe of the long night was when chairman of the electoral committee, Jigawa State Governor Mohammed Badaru Abubakar, declared “Abdullahi Adamu Aleiro” as the chairman, mixing his name up with another senator, former Kebbi State Governor Mohammed Adamu Aleiro. Kogi State Governor Yahaya Bello jumped to his feet, rushed to Badaru and whispered in his ears, prompting him to correct the mistake. It always looked like Badaru was not properly briefed, because after securing the withdrawal of opponents, he regularly declared an aspirant elected even before he asked delegates to affirm the choice, as the law requires. PDP men watching the event must have believed that their babalawo was at work. They were disappointed that Yahaya Bello’s youthful Kogi mouth was not sealed by the charm, so that a legal trap awaited APC down the line.

Sometime after midnight, a long motorcade of flashy SUVs lined up and President Buhari left the convention ground. Minutes later, another, slightly shorter line of SUVs again lined up and Vice President Yemi Osinbajo also left Eagle Square. I was tempted to ask: with the big masquerades gone, why should anyone stay up all night at the venue? They returned Sunday morning in time for the swearing in of the new party officers.

Party leaders must be pondering by now the lessons to be learnt ahead of the next party convention to choose the presidential flag bearer. Much more is at stake during the upcoming convention. Election of party leaders is really the business of the party and its members but in choosing presidential candidate, the party must weigh every aspect of Nigeria’s political history, psychology, media mischief and international ramifications of the choice.

Logistically speaking, it looks like straight forward voting for the aspirants would be smoother than this back and forth cajoling to achieve consensus. Besides, it satisfies the urge of many aspirants to test their popularity.

It also gives the elected officers/candidates greater moral authority to say they won the contest, instead of facing allegations that they were imposed. Because in the end it amounts to the same thing; if the president and most state governors agree to support a particular aspirant, who can stop him?

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