SATURDAY 29TH MARCH 2024

Delta Killing: DHQ Declares Eight Suspects Wanted, Embarks on Enhanced Operations

CBN Sets New Hurdles for Banks,

Separates new capital base from shareholders’ fund

Capital adjustments to affect new applications for banking licenses submitted after April 1, 2024.

Mandates compliance within 2 years, demands implementation plan

Access Bank will need to raise N248.18bn, FBNH – N248.66bn, Zenith – N229.25bn, GTCO –N361.81bn, UBA – N384.18bn

Buhari, Sanwo-Olu, Fubara, Others Greet Tinubu at 72

Deji

Elumoye in Abuja

and Blessing

Ibunge in Port Harcourt

Former President Muhammadu

Buhari, Governor Babajide SanwoOlu of Lagos and his Rivers State counterpart, Siminalayi Fubara, have greeted President Bola Tinubu as he turns 72 years old today.

While wishing Tinubu good health and long life in order for the country to benefit from his “excellent leadership”, the former president also hailed successor’s efforts towards solving nation's problems.

In a message, Buhari commended Tinubu for making “sustained efforts to overcome the many problems of the country,” while wishing him many happy returns of the day.

“My family and I pray to God that you remain healthy and happy and continue to work for the betterment of the country. Happy birthday to you!” he said.

Sanwo-Olu described Tinubu as a courageous, audacious, and passionate leader, who is committed to the progress, growth, and development of Nigeria.

He said Tinubu was worth celebrating for his contribution to

national development, noting that the president, since assuming office, has demonstrated unparalleled patriotism, integrity, honesty, and courage in the task of steering the ship of Nigeria in the right direction.

In a statement by his Special Adviser, Media and Publicity, Mr. Gboyega Akosile, Sanwo-Olu said Tinubu has provided honest and transparent leadership in Nigeria by taking bold decisions to address challenges militating against the prosperity of Nigeria and Nigerians.

He further described the president as a visionary and master strategist whose democratic credentials are scholarly materials for study in political economy. and people of the state have felicitated with President Bola Tinubu, on his 72nd birthday.

Fubara, in a message by his Chief Secretary, Nelson Chukwudi, also described Tinubu as a devout and selfless leader, an advocate of peace and unity, and a bridge builder that has engendered the growth of democracy in Nigeria.

He recalled Tinubu’s leading role in the rebirth of democracy through the instrumentality of the National Democratic Coalition (NADECO),

during the days of the military junta.

“You are a hardworking and people-oriented leader, committed

to promoting peace, upholding the unity of the nation and improving the welfare of Nigerians through quality service delivery and good governance

as enunciated in your 'Renewed Hope Agenda'.

“The policies and programmes of your administration are testament

of your commitment to ensuring the growth and transformation of the nation under your leadership,” he added.

The Minister of Works, David Umahi, yesterday expressed satisfaction over the quality and pace of work being carried out on the Lagos-Calabar Coastal highway.

The first phase of the new 700km highway is expected to run through the nine coastal states, beginning from Victoria Island. It has five lanes on each side of the dual carriageway and a train track in the middle. The superhighway is being built by Hitech Construction Company.

The minister described the highway as one of the most critical projects in the works sector and an important national economic pillar.

Umahi revealed that the federal government was interfacing with all host states along the highway to provide the needed land for the establishment of economically viable towns along the infrastructure to enable close communities reap the full economic benefits associated with the facility.

He said the that dredging processes, excavation works, dewatering and sand-filling as well as placement of crushed stone base, cement stabilisation of the base course, drainage works and culverts, among other processes, were progressing satisfactorily. The first phase of the highway is to be completed within 36 months.

According to the minister, provision

has been made for a train station at the Ikorodu junction of the road, which will also provide a link to the Ikorodu-Sokoto highway, a statement the Director Press and Public Relations, Ben Goong.

Also speaking during the inspection tour, Chairman of the Senate Committee on Works, Senator Barinada Mpigi and the Chairman House Committee on Works, Akin Alabi on behalf of their colleagues promised the support of the National Assembly in the area of funding through appropriation.

Conducting the minister and members of the National Assembly as well as other relevant stakeholders through several kilometres of the

stretch of the road, Federal Controller of Works, Lagos state, Olukorede Kesha, promised the minister that she will monitor the project to ensure that the job is delivered to specification and in record time.

DELTA KILLING: DHQ DECLARES EIGHT SUSPECTS WANTED, EMBARKS ON ENHANCED OPERATIONS

At the same time, foremost lawyer, Femi Falana, SAN, told the armed forces not to bungle the probe of the recent killing, because they lack power to arrest, detain, investigate and charge civilian suspects with any offence whatsoever.

Nonetheless, the military listed the following as suspected culprits in the killing of the soldiers in Delta State: Prof. Ekpekpo Arthur, Andaowei Dennis Bakriri, Akevwru Daniel Omotegbo (a.k.a Amagben), Akata Malawa David, Sinclear Oliki, Clement Ikolo Ogenerukeywe, Reuben Baru, and Igoli Ebi.

Speaking at a media briefing in Abuja, where photographs of the suspects were released, Director, Defence Media Operations (DDMO), Maj Gen Edward Buba, stated, "We must never allow what happened in Delta State to ever repeat itself again.

"That is why we are releasing these pictures, including the woman. If we have to place a bounty, we will do it. We must never allow what happened in Delta State to ever repeat itself again. We are deployed across the country for a reason.

"To protect and ensure peace. Where there is escalation, we are to contain

it. That is why we are releasing these pictures, including the woman, if we have to place a bounty, we will do it."

But Musa, who spoke at the end of the Second Edition of the Chief of Defence Staff Joint Task Force Commanders Conference 2024 at the Defence Headquarters in Abuja, said the security forces were constitutionally empowered to protect Nigerians and democracy.

He said, "Nigerians should expect enhanced operations, professionally conducted with the mind of safeguarding Nigeria internally and externally, especially the human rights of Nigerians and every citizen in Nigeria.

"All we have done is to reassess our operations and see what we are not getting right and fine-tune it. That is why you saw former defence chiefs and theatre commanders in attendance to share ideas on what they have and you know we are operating in a very fluid environment.

"All we are saying is, trust the armed forces. The Armed forces of Nigeria are here to protect you, to protect our democracy and to ensure that Nigeria is fully secure.

"Nigerian Armed Forces are for

Adelabu, disclosed these to journalists, yesterday, in Lagos, after touring Egbin Power Plant and its facilities as part of his routine official visits to power firms in the country.

The minister spoke just as the Chief Executive Officer of Egbin Power Plc, Mr. Mokhtar Bounour, lamented the huge revenue losses being suffered by the company because of under-capacity generation as its capacity dropped to about 400 megawatts (MW) due to shortage of gas and the N1.4 trillion owed it by the federal government.

However, Adelabu explained that his visit to the power plant was to know how the federal government would support the power generating plants to strengthen their output, admitting that forex sourcing had been major constraints to effective maintenance and sustainability of the power generation facility.

"Once we have seen what we have on ground now and the critical need for spare and tools for maintenance, we would be able to liaise with CBN to prioritise FX allocation to the power sector," the minister said.

He added, "This will ensure that we are able to ramp up capacity in terms of generating output, it's not only peculiar to power plants, it's across all the generating plants. They need forex for them to be able to maintain the turbines and replace the tools and the spares.

"This has been a major issue. I'm going to take a step to ensure I liaise

with the foreign exchange authority in CBN to see how they can prioritise FX allocation to the power generating companies."

Adelabu said he also visited the 1,300mw installed capacity power plant to seek more understanding with them.

He acknowledged that the federal government was owing the power Gencos a lot of money.

He pointed out that Egbin Power Plant tops the list of the creditors, noting that the government would not want the debt to cripple the company's operations.

For being magnanimous enough to continue operating and generating power despite the challenges, Adelabu also announced that the federal government was prioritising paying down all the outstanding debts owed Egbin and others.

"And I've assured the management that effective April, we will start paying that money as a form of incentive and part of encouragement to continue to have them in operation," he said.

Admitting that gas constraints had been an impediment to almost all the power plants, the minister informed that his ministry had already had conversation with the Minister of Petroleum (Gas) to try to resolve the gas to power supply challenge.

He said the government was also meeting with the gas suppliers to

Nigeria. We are here to protect Nigerians together. The efforts we are making, we are not making them alone. We need the support of Nigerians.

"You saw our men being buried yesterday and you saw the president there himself. This is what we are talking about, commitment. We must come together to defeat this menace, these terrorists that don't mean well for Nigeria."

Falana: Don’t Bungle Probe of Killings

Legal luminary, Femi Falana, SAN, told the armed forces to realise that they could not arrest, detain, investigate and charge civilian suspects with any offence whatsoever.

According to Falana, “In Dr Issa Perry Brimah v Nigerian Army, Justice Ijeoma Ojukwu held that, ‘It must be stated here without equivocation that the defendant (Nigerian Army) has no right to declare the plaintiff wanted without following the appropriate procedure.

“The judge further said the defendant cannot arrest the plaintiff arbitrarily without making a formal Emmanuel Addeh in Abuja

FG PLANS LIAISING WITH CBN TO PRIORITISE FX ALLOCATION TO BOOST POWER GENERATION

plead with them to understand that government was prepared to start paying down all the debts owed them.

"Like I mentioned earlier that we are going to make some cash injections in terms of payment. We are going to give them some guarantee debt instrument, and we are also looking at ways of allowing them access to Nigeria gas wells which would be used to defray the outstanding debt of gas suppliers.

"We would start seeing the impact in April when we start paying these loans, I've had meetings with the Minister of finance and minister of budget planning and they have given me the promise that we are going to look for funds to start paying these," Adelabu stated.

He described Egbin Plant as the best power plant in the sub-Saharan Africa with six turbines of 1,320mw, noting that the plant was established 40 years ago.

He expressed his excitement about the maintenance culture of the power facility, which he said, was result of the huge investment made by the present owner to sustain the plant and ensure it continues to produce and generate power on a continuous basis.

“We received a delegation led by the Hon Minister of Power. The message is clear. They care about power generation, they care about the industry and Nigeria, the care about the community and it 100 per cent aligns with our strategy.

report to law enforcement agency with the mandate to enforce law and order. “Otherwise, it would transmute to self-help. The duty of the defendant is to make a formal report to the appropriate authority, like the police, and await the outcome.”

Citing yet another case, Falana said, “In Miss Grace Anita Paul v. The Chief of Army Staff, the Army, Inspector General of Police, and the Nigerian Police Force, the Federal High Court held that the Nigerian Army lacks the power to arrest, investigate and hold in custody, anyone who is not subject to the Armed Forces Act or any other military law.

“Justice Taiwo Taiwo, on Wednesday, warned the military not to usurp the powers of the Nigerian Police under Sections 4 and 84 of the Police Act, which empowers the police to detect

and investigate crime.”

Falana warned against arbitrariness and strong-arms tactics by the military authorities in the attempt to solve the recent killings in Delta State.

He stated, “We have also read the eight people alleged to be involved in the cruel murder of the soldiers have been declared wanted by the Defence Headquarters. It is trite law that the police and security agencies lack the power to declare any suspect wanted without a court order.

“In Benedict Peters v Economic and Financial Crimes Commission, a high court in Abuja ruled that the Economic and Financial Crimes Commission lacks (EFCC) the powers to declare anyone wanted without obtaining a court order or charging the suspect with an offence.”

According to Falana, “The presiding

CBN SETS NEW HURDLES

judge, Justice Othman Musa, ruled that though the EFCC could declare as wanted persons who fail to honour its invitation for investigation, it could only do so if it obtains a court order for that purpose.

“So, the decision of the Defence Headquarters to declare the murder suspects wanted is completely illegal.

“Let the federal government direct the Defence Headquarters to hand over the investigation of the suspects involved in the gruesome murder of the 17 officers and soldiers. It ought to be pointed out that murder is not a military offence to warrant investigation by the Defence Headquarters.

“If the federal government fails to call the Defence Headquarters to order, the case concerning the tragic murder of the soldiers will be completely bungled.”

FOR BANKS, RAISES CAPITAL THRESHOLDS TO N500BN, N200BN, OTHERS

new capital base of N50 billion for banks with regional licenses.

The fresh capital hurdles were disclosed in a statement issued by CBN acting Director, Corporate Communications Department, Mrs. Hakama Sidi Ali, adding that all fresh

capital requirements are to be satisfied by March 31, 2026. The central bank also pegged the new minimum capital for merchant banks at N50 Billion, while non-interest banks with national and regional authorisations are mandated to raise

their capital thresholds to N20 billion and N10 billion, respectively.

The development came days after the CBN urged the financial

Umahi

PHOTO: NAIRAMETRICS

DHQ:

COURTESY VISIT TO THE CBN GOVERNOR..

L-R: Mr. Mohamed Mustapha

Assistant Secretary

and UN Resident/Humanitarian

NNPC Plans Replacement of over 5,000km Dilapidated Pipelines in 3 Years

Lokpobiri says insecurity poses threat to sustenance of energy infrastructure

Emmanuel Addeh in Abuja

The Nigerian National Petroleum Company Limited (NNPC) yesterday said that it plans to replace almost all the over 5,000 pipelines network scattered across the country in the next three years.

Nigeria currently transports a large portion of its fuels through tankers and other inefficient means, considerably raising the cost of production and by extension the pricing of products.

Speaking at the 2024 edition of the Society of Petroleum Engineers Oloibiri Lecture Series and Energy Forum (SPE OLEF) held in Abuja, the NNPC Group Chief Executive Officer, Mr Mele Kyari, explained that pipelines remain the most efficient and cost-effective way of transporting petroleum products.

He stated that a Build, Operate and Transfer (BOT) mechanism had already been kicked off to ensure that the process is completed by 2027, stressing that trucking products by road remains a critical challenge to the oil and gas sector.

“The cheapest way of transporting petroleum is by pipelines and that

is why particularly our NNPC network of pipelines permeating all over the geopolitical zones, about 27 locations and over 5,000 kilometres of pipelines across the country, are being revamped.

“We have commenced a BOT process, where nearly all the pipelines will be replaced over a period of three years. As we do this, we are also reinforcing the ability of the network to deliver products to locations. We are already putting these capabilities to work. This is something that must be done.

“Otherwise, we will continue to use trucks which constitute a major challenge to our roads, especially the pressure it places, and it’s already work in progress,” he revealed.

Kyari’s keynote address was themed: "Stability in the Energy Sector: Integrated Strategies for Infrastructure, Transportation and Security."

To bridge the energy access gap in Nigeria, Kyari said NNPC was working on developing the right infrastructure to deliver oil and gas to drive prosperity for Nigerians.

"We are committed to developing gas infrastructure across the country.

We are dedicated to investing in critical infrastructure to enhance economic prosperity by supplying gas to the domestic market, targeting at least 8 billion cubic meters," Kyari added.

He listed some of the infrastructural projects being undertaken by the NNPC to help bridge the energy access gap in Nigeria to include the Obiafu/Obrikom/Oben (OB3) and Ajaokuta-Kaduna-Kano (AKK) pipelines, adding that they are designed to enhance the nation’s gas supply network.

On the global front, Kyari said NNPC was working on expanding gas supply to the international market primarily through the NLNG Train 7 project, while efforts were also being made to kick off Train 8 as well as the various floating LNG initiatives.

The GCEO called for support in leveraging Nigeria's abundant gas resources for economic prosperity, emphasising the need to bridge access gaps in electricity and clean cooking fuel.

Also speaking, the Minister of State, Petroleum (Oil), Senator Heineken Lokpobiri, stressed that there is an ongoing robust approach

by the government to revamp the energy sector, not only domestically but extending it to the international community through friendly competition of energy supply to the international market.

He opined that integrated strategies for infrastructure development means taking advantage of the abundant fossil fuel to save against the future, while considering transitioning into other renewable energy sources, such as solar and wind, to diversify Nigeria’s energy mix.

Represented by the Director, Upstream at the Ministry of Petroleum, Kamoru Busari, he stressed that there was the need to implement new policy directives that will promote cost efficiency in local content development, eliminate barriers to investments and incentivise foreign investment and partnerships.

“The government is setting the pace as practical steps in infrastructure are being taken to increase local refining capacity by ensuring the existing refineries come on stream, while ensuring that more attention is paid to modular refineries as quick wins to complement the increase in domestic refining capacity towards

World Bank Group Releases New Data to Boost Investment in Emerging Markets

Ndubuisi

The

The

Two separate reports are being provided for the first time ever.

The International Bank for Reconstruction and Development (IBRD), a member of the World Bank Group is sharing sovereign default and recovery rate statistics

dating back to 1985. This information will help credit rating agencies and private investors gain a deeper understanding of IBRD's credit risk.

At the same time, the International Finance Corporation (IFC) is providing private sector default statistics broken down by internal credit rating.

The report provides insights that could help private sector investors feel more confident about investing in emerging markets.

In his remarks, World Bank Group President Ajay Banga, said: “We believe our proprietary information should be a global public good and sharing it will provide transparency and inspire investor confidence.

“The publication of this data is aimed at one goal: getting more private sector capital into developing economies to drive impact and create jobs.”

The WBG President had early Sunday revealed that the World Bank Group had mobilised $41 billion of

private capital for emerging markets and raised another $42 billion from the private sector for bond issuance last year, with both totals to be eclipsed this year.

The World Bank Group analyses complement statistics produced by the Global Emerging Markets Risk Database Consortium (GEMs), a group of 25 multilateral development banks and development finance institutions that pools similar data and publishes them as a combined resource for public use.

The consortium releases sovereign and private sector default statistics annually. Earlier this week, the consortium expanded the materials they publish to include private sector recovery rates disaggregated by country income, regions, and sectors.

To ensure the quality of the information, IBRD staff spent more than a year recovering and cleaning sovereign default data covering the period 1985 to 2023. These statistics are unique to IBRD

due to its global portfolio and long historical record.

Similarly, IFC’s private sector default statistics have been compiled over nearly 40 years and published as a standalone report to respond to the urgent need of investors for emerging market insights. In time, these statistics might also be combined with other data from development institutions and published through the GEMS Consortium.

The IFC's private sector portfolio had a low default rate of 4.1 per cent from 1986 to 2023, suggesting the untapped potential and resilience of private sector investments in emerging markets.

For investments rated as "weak" by IFC's internal rating system, the default rate was only 2.6 per cent during the period between 2017 and 2023, indicating that even investments considered higher risk can perform better than could be expected.

energy self-sufficiency,” he stated.

According to him, insecurity remains one of the most critical challenges in the oil and gas sector and still poses a threat to ramping up production despite government efforts.

“Over the years insecurity has

posed as one of the most pressing challenges to stability in the Nigerian energy sector. There have been cases of pipeline vandalism, oil theft, and sabotage, that have caused significant threat to the sustenance of our energy infrastructure and smooth operations,” he stated.

Petroleum Ministry Ends Retreat, Pledges to Implement Deliverables

Emmanuel Addeh in Abuja

The Ministry of Petroleum Resources has ended a three-day oil and gas sector retreat with a commitment to implement the ministerial deliverables set for the ministry and its agencies by President Bola Tinubu in November, 2023. The Retreat with the theme: “Building Synergy for Enhanced Development in the Oil and Gas Sector”, started on Tuesday, 26 and ended on Thursday, 28 March, 2023 in Abuja, according to a statement from the Deputy Director of Press, Oluwakemi Ogunmakinwa.

Following Tuesdays’ keynote addresses by the two ministers overseeing the ministry, Senator Heineken Lokpobiri, and Ekperikpe Ekpo respectively, Ogunmakinwa stressed that yesterday’s session witnessed robust brainstorming.

She added that there were syndicate sessions on topical industry issues by experts in the ministry and the various agencies within its purview, all aimed at developing the oil and gas sector.

In his closing remarks, the Permanent Secretary, Ministry of Petroleum Resources, Nicholas Ella, said the gathering epitomised collaboration, expertise, and a shared dedication to ushering in transformative change within Nigeria's oil and gas sector.

“As we conclude this retreat, let us look to the future with optimism and determination. Our deliberations have laid the groundwork for tangible progress and sustainable development within the oil and gas sector”, he noted.

He expressed confidence that continued collaboration, innovation, and strategic focus would ensure the realisation of the shared vision of a thriving and resilient industry that drives economic growth, enhances energy security, and fosters social prosperity for all Nigerians.

“Fundamentally, what we are all looking at is the prosperity of the average Nigerian on the street. If we have enough production of crude and of gas that can serve the generality of Nigerians.

Tinubu Appoints Abdullahi Bello as Chairman of Code of Conduct Bureau

Deji Elumoye in Abuja

President Bola Tinubu has approved the appointment of Dr. Abdullahi Usman Bello as Chairman of the Code of Conduct Bureau (CCB), pending his confirmation by the Nigerian Senate. The President, according to a statement issued yesterday by his Media Adviser, Ajuri Ngelale, anticipates the new Chairman, upon confirmation by the Senate, will lead the Bureau with utmost

integrity toward the realization of its mandate of maintaining high standards of public morality in the conduct of government business and ensuring that the actions and behaviour of public officers conform to the highest standards of morality and accountability.

Bello is a consummate professional with more than 25 years of work experience in consulting, banking, law enforcement, financial services, and academia.

Fall,

General

Coordinator; Ms. Amina J. Mohammed, Deputy Secretary-General of the United Nations and Chair of the United Nations Sustainable Development Group; Mr. Olayemi Cardoso , Governor, Central Bank of Nigeria; Mr. Muhammad Sani Abdullahi, Deputy Governor, Economic Policy, Central Bank of Nigeria; and Mrs Elsie Attafua, United Nations Resident Representative during a courtesy visit to the CBN Governor last Tuesday

2024 CHRISM MASS CELEBRATION..

N'Assembly Pledges Adequate Budgetary Provision for N1.067tn Lagos-Calabar Coastal Highway

Sunday Aborisade in Abuja

The National Assembly has assured the Ministry of Works of adequate budgetary provision for the completion of the Lagos-Calabar Coastal Highway which has a contract sum of N1.067 trillion

The Chairman, joint National Assembly Committee on Works, Senator Barinada Mpigi, gave the assurance when he led members of the joint National Assembly Committee on Works on oversight visit to some selected federal highway projects in Lagos.

The Coastal Highway is an interstate highway that is proposed to traverse about nine states along the

coastal shoreline of the country.

The 750km highway, handled by Hitech Construction Africa Limited will start from Lagos, and would terminate in Cross River, with a spur to the North Central part of Nigeria.

Mpigi, expressed the National Assembly’s support for speedy completion of the work, and appreciated the level of work done so far.

“The coastal road is real and is life and I can testify that the ministry is doing the right thing. And with the expectant period, it is achievable, he said.

On his part, Chairman House Committee on Works, Akin Alabi, said the House of Representatives

would work with the Senate President, Speaker of the House of Representatives and the the two committees on appropriation for adequate funding of the road.

Alabi said, “We are going to work with both the Senate President, the Speaker and the committees on appropriation to make sure funding is not what will delay the project.

“We have seen it over and over again in this country, where you have great intention when you want to begin a project, but along the line, you will run into trouble.

“But this is a project everyone is committed, both the Executive and the Legislature and it must be delivered. We must make sure that

every fund released are accounted for it.

“This is the kind of project, a legacy project that will put smile on people’s faces and we are all committed to achieving it,” Alabi said.

Also, the Minister of Works, Sen. Dave Umahi, commended the commitment of the contractor, Hitech Construction Company on the level of work so far achieved.

Umahi said, “We commend Hitech. We are very confident that this project which is 700 kilometres, the phase two will be executed successfully under President Tinubu.

“As a former governor of Lagos,

Fertiliser Production, Export Capacity

he even acquired the right of way for the coastal highways but could not get a contractor at that point to start it.

“He is a man that is very committed to development. We are submitting everything about this project to the President and he will be relating with national assembly in terms of funding. “Whatever funds that the national assembly will give us will be properly utilised.

” When we construct roads under the renewed hope of the president, it will last for hundred years. He is the father of concrete technology in the country, ” Umahi said.

Umahi added that when lands along the corridors of the coastal highways are acquired by government, it would be a gold mine and it would help to pay back for the funding of the project.

The Managing Director Hitech, Mr Dany Abboud, said that the company was committed to finishing the project within the stipulated time. “We assure you that we are fully committed to do this project as per the directives of the Federal Government through the ministry of works to do it within 36 months. It will be hopefully and willingly done within 36 months if not before,” he said.

30,000 Students Benefit from Ogun Educash Transfer, Says Commissioner

James Sowole in Abeokuta

Ndubuisi

The

African

The

The expansion will include the

of a third urea fertilizer production line and a new shipping terminal at Indorama’s facilities in Port Harcourt. The new production line is expected to have an annual capacity of 1.4 million metric tons of urea, one of the most widely used fertilisers worldwide.

Indorama’s two operational

Nume Ekeghe

The official market witnessed a remarkable surge in trading activity yesterday, with the daily turnover reaching an all-time high of $857 million.

The daily turnover also

urea fertiliser lines serve Nigeria’s domestic market, supporting the country’s agricultural sector, which accounts for a quarter of its GDP and employs about a third of its labor force.

The new production line and terminal, which will help meet growing global demand for fertilizer, are expected to create up to 8,000 direct and indirect jobs in Nigeria.

“The African Development Bank is proud of its continued partnership with Indorama, the IFC and other lenders on this critical project as it is aligned with our strategic priorities to Feed Africa and Industrialize Africa while generating significant development outcomes in Nigeria” said Ousmane Fall, Acting Director of Industrial and Trade Development Department at the AfDB.

Speaking on the development, Manish Mundra, Group Director for Africa, Indorama Corporation said, “The establishment of this

increased by 106.1 per cent to $857.78 million from $416.10 million on Wednesday.

This is as the naira continued to appreciate against the dollar at the parallel market but marginally declined at the official window.

The naira gained at the parallel

fertilizer plant underscores Indorama’s unwavering commitment to Nigeria’s industrial growth, economic diversification, and leveraging its strategic geographic location.

"This landmark financing represents a pivotal moment in Nigeria’s journey towards becoming a major player in the global fertilizer market.

"With the addition of this third line, Nigeria is prepared to significantly ramp up its export capacity, thereby enhancing its position as a key exporter of fertilizers to Africa and the world.

"Furthermore, the establishment of this fertilizer plant will not only address critical issues such as broader food security but will also stimulate agricultural growth and create employment opportunities in Nigeria.”

The AfDB loan follows a strategy to support investment in private sector development to promote the growth of the real sector.

The $75 million senior loan is part of a $ 1.25 billion facility arranged by the International Finance Corporation (IFC). The financing package includes a $215.5 million loan from IFC’s own account, a $94.5 million loan through the Managed Co-Lending Portfolio Program (MCPP), and $940 million in parallel loans mobilized from other development finance institutions and commercial banks, such as the African Development Bank, Bangkok Bank, British International Investment, Citibank, Deutsche Investitionsund Entwicklungsgesellschaft (DEG), DZ Bank, Emerging Africa Infrastructure Fund (EAIF), Rand Merchant Bank, Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), Export-Import Bank of India (India Exim Bank), Export-Import Bank of Korea (KEXIM), the Standard Bank Group, Standard Chartered Bank, and the United States International Development Finance Corporation (DFC).

The Ogun State Government has said that no fewer than 20,000 students in tertiary institutions across the country have so far benefited from the ongoing Educash transfer of N50,000 to cushion the current economic crisis.

In the same vein, it stated that 10,000 indigent students in both primary and secondary schools across the state, have also benefitted from the N10,000 cash transfer.

This was disclosed by the Commissioner for Education, Science and Technology, Prof Abayomi Arigbabu, after monitoring the cash transfer to public primary and secondary schools at the Ogun West Senatorial District .

According to the commissioner, by the end of next week, more students would have benefited from the gesture at both the tertiary and secondary/primary levels, even as he promised that all students captured would be paid.

He said: "I can tell you that for the one of the tertiary institutions, we have done 20,000 as at today, and the total for the tertiary institution beneficiaries is a little bit less than 50,000. Hopefully, by the end of next week, we will have reached half of that, which is about 25,000 beneficiaries.

where we have a little bit less than 8,000. We have tried to make sure we are targeting between the range of 45 per cent to 50 per cent in all the schools," he said.

Arigbabu also said that the state government would not entertain cash payment during the ongoing exercise to students in public primary and secondary schools.

He noted that the government would still avail any parent without a bank account an opportunity to do so as long as they have already been captured for the educash payment.

"We are not going to pay cash to anybody; we are not going to handle cash. We are going to pay through the account. If that person doesn't have an account, they need to open an account because it is difficult to trace cash transactions.

"Today, as we have gone out, if I say I have paid 100 people, how will you confirm that? But, the one we have done through transfers, you can see it through bank statements and the alerts they receive.

"We want to avoid anything that will make us pay cash. We won't even pay cash, I can assure you.

market yesterday for the eighth consecutive day closing at N1,300/$1 compared to N1,320 it closed on Wednesday signifying N20 gain.

On the official Nigerian Autonomous Foreign Exchange (NAFEM) window, the naira

marginally depreciated by N8.94 to close at N1,309.37/$1, compared to N1,300.43/$1 on Wednesday.

Also, the highest spot rate yesterday was pegged at N1,392.39 while the lowest spot rate recorded was N1,250.

"I want to assure those who have not received theirs, for instance, Olabisi Onabanjo University (OOU), a list of a little bit over 12,000 was sent to us. As we speak now, we have paid just a little less than 6,000.

“The same thing at Tai Solarin University of Education (TASUED),

"Those who have not opened account, if the name was captured and sent to us, that is for primary and secondary beneficiaries, what we can do for that person is to allow him or her to open a bank account and send the details to us.

"For parents whose children were selected in the primary and secondary as a result of indigence, we will look into that particular case. If we have a parent that has no account, we will allow him/her to open an account and send it to us," he said

L-R: Dean, Maryland Deanery, Very Rev. Anthony Fadairo; Rev Msgr Patrick Yinka Obayom; Archbishop of the Metropolitan See Lagos, Most Rev. Dr. Alfred Adewale Martins; and Mgsr. John Aniagwu, at the 2024 Chrism Mass celebration, by the Catholic Archdiocese of Lagos, at the Holy Cross Cathedral, Lagos...yesterday. KOLAWOLE ALLI

Tinubu to Religious Leaders: Refrain From Cursing, Denigrating Nigeria in Your Sermons, Pray Instead

Stresses that Nigeria can achieve desired advancement through unity Traditional rulers pledge unwavering support for govt's move to refocus the nation CAN, NSCIA support current move to return peace and stability to Nigeria

Deji Elumoye in Abuja

President Bola Ahmed Tinubu has called on religious leaders to refrain from vilifying or denigrating the nation in their sermons.

Speaking during Ramadan Iftar with traditional rulers and religious leaders at the State House yesterday, the President, according to a release issued by his Media Adviser, Ajuri Ngelale, emphasized the important role of religious leaders in shaping public opinion and fostering a sense of unity among citizens.

He urged the leaders to be more constructive in their criticism of those in elective positions.

According to President Tinubu: "The love of the nation is in your hands. Pray for our country. Educate our children. The sermons we preach to the members of our churches and mosques are important.

''Do not condemn your own nation. As a Yoruba man and as our fathers will say, ‘no matter how slippery the bottom of your child is, you must leave the beads there.’

''Leave the beads there. This is your country; do not condemn it in sermons, do not abuse the nation.

The President also declared that his administration is determined to turn Nigeria’s challenges into prosperity.

He reiterated that no terrorist can defeat the collective will of Nigerians, no matter how hard they try to prey on innocent citizens.

President Tinubu urged traditional and religious leaders to forge a strong bond with the government to defeat terrorism, banditry, kidnapping, and other forms of criminality in the country.

''Yesterday in Abuja, I attended the burial of the 17 soldiers killed in action at Okuama, Delta State. I saw

UN Identifies Corruption, Insecurity as Obstacles to Doing Business in Nigeria

Dike Onwuamaeze

Beyond harsh regulatory frameworks, infrastructure deficit, and bureaucratic bottlenecks, Country Representative for United Nations Office on Drugs and Crime (UNODC), Dr. Oliver Stolpe, has identified corruption and insecurity as major obstacles to doing business in Nigeria. Stolpe stated this yesterday in Lagos during the “LCCI Stakeholders’ Engagement Session on Ease of Doing Business (EoDB).”

The UNODC country representative pointed out that corruption and insecurity caused additional $500 million cost to liner services that passed through the Gulf of Guinea, especially within the Nigerian and Sao Tome and Principe corridors.

He disclosed that a survey by UNODC and National Bureau of Statistics (NBS) in 2019 revealed that N675 billion was recorded in 2019 as petty bribes paid by Nigerians, adding that half of this sum was collected on Nigerian roads, which was an additional cost to operators in the transport and logistics sector of the economy.

According to Stolpe, “Insecurity and corruption are factors that affect the ease of ease of doing business in Nigeria and foreign direct investment.

“Now, the issue of crime and corruption from business perspective

is first and foremost simply an additional cost that you have to calculate and that makes it high because unpredictable events are very hard to calculate.

“When we look specifically at the shipping industry it is estimated that the shipping industry at the Gulf of Guinea, which is Principe and Nigeria corridor, incurs an additional $500 million due to insecurity in the Gulf of Guinea due to increased freight rate and additional security and staff related costs that shipping companies incur in order to secure their vessels.”

Although insecurity incidence in the Gulf of Guinea had significantly reduced, Stolpe said “as at last year I was still hearing that the insurance companies have not reduced the rates for people who are doing shipping in the Gulf of Guinea because of the persisting fear of attacks since many of these things have to do with fear.

“Moving on to the issue of bribery, the National Bureau of Statistics and our office conducted the second national corruption survey in 2019.

“Here we were measuring household survey and were looking predominantly at what is referred to as ‘petty’ corruption that involved N675 billion in 2019. About half of those bribes were collected on the roads. That was a huge addition to operators in transport industry.”

their pregnant wives and little kids."

While supporting the notion that leadership is meant for changes, the President, however, posited that next election in the country will be an opportunity to effect such changes but not through condemnation.

His words: "Leadership is meant for changes. Yes, this leader is bad, fine. Wait until the next election to change him, but do not condemn your country. Do not curse Nigeria. This is a beautiful land".

In his comments about the current challenges the nation faces, President Tinubu said even those developed nations went through similar situations and that there is no nation across the world today that is not facing challenges.

He, however, assured them that if the nation works together as one, the current challenges will be gone and the desired nation will be achieved.

“Yes, we are challenged, that is true, no nation that is not currently challenged, one way or the other, but it is with God-given talents and

resolve of all of us to say that we will overcome the challenges and turn it to prosperity. By the grace of God we will, we will turn it around. There’s a very bright light at the end of the tunnel.

“I believe it also that somewhere in the eye of the storm, is some corner of calmness and joy for those who will serve with faith and determination.

“We’ve seen the challenges of insecurity, yes many nations go through it. Some of those prosperous nations today, if they look back, they will find in history of their nations, blood on their snow. They fought battles to be what they are.

“Maybe our beautiful weather, our rich land, our loving parents have spoiled us. They didn’t wean us early enough from breast feeding, so every minute we have to cry of hunger. We didn’t forget our childhood. But we will believe in the prosperity and the love and care of that woman, the mother, Nigeria.

“So, I’m with you, no matter the degree of the lamentation, my own

is don’t give up. As long as we are determined to change our country, it is our own to change. Nobody, all these America, Britain France and others, they can’t love us better than ourselves.

“We can drive on good roads like they have in their infrastructure, we can have first class education. We give you the assurance, as a government that you will be our priority, but not because of you, but because of your children. Who do we hand over to”, he said.

The President, who acknowledged the birthday wishes and goodwill extended to him on the occasion, reminded the leaders that his birthday on March 29, 2024, coincided with Good Friday.

According to him: "I have earned the honour of having my birthday fall on Good Friday, and I pray that on this Maundy Thursday, you all shall return to your homes safely. May God guide and keep you and your families in good health, and lift your spirits".

Different speakers at the dinner expressed gratitude for the opportunity to come together in the spirit of Ramadan to share a meal with the President and renew the bonds of friendship that unite the nation.

Vice-President Kashim Shettima emphasized the pivotal roles of religious and traditional rulers in promoting peace and unity, urging them to continue to ‘‘build bridges that transcend ethnic and religious divides.’’

He expressed delight that the nation’s economy is on a rebound, noting the strengthening of the naira against the dollar.

''The President means well for the nation, and he has continued to redefine the meaning and concept of modern leadership.

''For many years, fuel subsidy was an albatross. The President took a bold decision from day one, and he hit the ground running. Now the economy is turning the corner," the Vice-President said.

Binance Executives File Fundamental Rights Suit against NSA, EFCC

Alex Enumah in Abuja

The detained executive of Binance, Mr Tigran Gambaryan, has filed a fundamental human rights violation suit against the National Security Adviser (NSA) Nuhu Ribadu, and the Economic Financial Crimes Commission (EFCC).

The fundamental rights suit was filed alongside the firm's Africa Regional Manager, Mr Nadeem Anjarwalla, who was now at large.

While the two executives were arrested and detained by the federal government on February 26, Anjarwalla was said to have escaped from custody on March 22, few days after they filed the fundamental rights enforcement suit.

Gambaryan, in the originating motion dated and filed March 18, is challenging his continued detention by the federal government.

The suit before Justice Inyang Ekwo of the Federal High Court, Abuja, was filed by his lawyer, Mr Olujoke Aliyu.

Gambaryan and Anjarwalla, in the suits marked: FHC/ABJ/ CS/356/24 and FHC/ABJ/

CS/355/24, sued the Office of NSA (ONSA) and EFCC as first and seconnd respondents.

They sought same reliefs.

Gambaryan, a US citizen overseeing financial crime compliance at the crypto exchange platform, in his application, sought a declaration that his detention and seizure of his international travel passport, contravened Section 35 (1) and (4) of 1999 Constitution (As Amended).

He said the act amounted to a violation of his fundamental right to personal liberty as guaranteed by the constitution. He also sought an order directing the respondents to release him from their custody and return his international travel passport with immediate effect.

Gambaryan equally sought an order of perpetual injunction restraining the respondents and agents from further detaining him in relation to any investigation into or demands from Binance.

The official, who sought an order for the respondents to issue a public apology to him, also prayed for the cost of the action on a full

indemnity basis.

In a statement in support of the suit, Gambaryan said he was an American citizen who visited Nigeria on February 26, along with fleeing Nadeem Anjarwalla, as a representative of Binance, to honour the invitation of the ONSA and EFCC to discuss issues relating to Binance in Nigeria.

Giving an 11-ground argument as to why his application should be granted, he said he and his colleague, Anjarwalla, dutifully attended the meeting.

He said after the meeting the two of them were detained by the respondents and had remained in detention since then.

He said he did not commit any offence during the meeting, and neither was he informed in writing of any offence he personally committed in Nigeria at any other time.

“The only reason for his detention is because the government is requesting information from Binance and making demands on the company,” Gambaryan said. He added that he was not

a member of the Board of Directors of Binance.

When the two suits were called yesterday, T.J. Krukrubo, SAN, appeared for Anjarwalla and Gambaryan.

Krukrubo told the court that though the respondents were served two days ago, they were not represented in court.

The senior lawyer, however, drew the attention of the court to their notice of withdrawal of legal representation for Anjarwalla filed on March 26.

Although Krukrubo did not give details on why they were withdrawing their legal representation, this might not be unconnected with the disappearance of the applicant in custody.

Ekwo said having withdrawn their legal representation, “it means that the applicant has no legal representation and requires that the matter be adjourned for the applicant to seek legal representation and for the respondents to be given an opportunity to come to court.”

Ekwo adjourned till April 8 for further mention.

CUSTOMARY COURT OF APPEAL, OGUN, GETS NEW PRESIDENT...

L-R: Secretary to the Ogun State Government (SSG), Mr. Tokunbo Talabi; Ogun State Deputy Governor, Engr. (Mrs.) Noimot Salako-Oyedele; Governor Dapo Abiodun; the Chief Judge of Ogun State, Justice Mosunmola Dipeolu and Justice Adebisi Femi-Segun, after her swearing-in as the substantive president, Customary Court of Appeal, Ogun State, on Thursday.

Wigwe's Fearless Legacy: Access Holdings Makes History, Generates N2.59tn Gross Earnings, N729bn PBT

N167.68 billion declared in 2022.

The Group’s Net Interest Income also demonstrated strong performance, soaring by 93.5 per cent YoY to N695.4 billion, compared to N359.6 billion in the previous year. The yield on earning assets also rose remarkably from 9.2 per cent in 2022 to 12.8 per cent.

Access Holdings’ Loans and Advances expanded by 60.5 per cent to N8.9 trillion, accompanied by an improvement in the non-performing loan ratio, which decreased to 2.8 per cent from 3.2 per cent in 2022.

The group closed the year with N2.18 trillion in shareholders’ funds, marking a significant 77.5 per cent growth from N1.23 trillion in FY 2022.

The holdings’ on the Nigerian Exchange Limited (NGX) recorded a robust growth in its Profits Before Tax (PBT) posting a healthy N729 billion, representing 33 5per cent year-on-year (YoY) increase from

Commenting on the performance, Acting Group Chief Executive Officer, Access Holdings, Bolaji Agbede, in a statement said: “The group’s strong performance in 2023 reflects our commitment to delivering value to our shareholders and stakeholders amidst challenging operating environments.

NNPC Spokesman Wins NIPR’s Oil, Gas Award, Lauds Kyari

Emmanuel Addeh in Abuja

The Chief Corporate Communications Officer of the Nigerian National Petroleum Company Limited (NNPC), Mr Olufemi Soneye, Wednesday night won the Distinguished Spokesperson in Oil & Gas award, organised by the Nigerian Institute of Public Relations (NIPR).

Soneye was appointed the spokesman of the national oil company on October 18, last year, and has since then driven its brand penetration, strategic communications initiatives, and stakeholder management.

Soneye, who received the award at the event in Abuja, dedicated it to the Group Chief Executive Officer of the NNPC, Mele Kyari, stressing that he was humbled by the honour.

“I am deeply honoured and grateful to receive the NIPR Spokesperson of the Year award in Oil and Gas. This recognition means a great deal to me, and I am truly humbled by the acknowledgment of my efforts in representing NNPC Ltd.

“I would like to dedicate this award to the Group Chief Executive Officer of NNPC Ltd., Mr Mele Kyari, whose unwavering support and guidance have been instrumental in shaping my role as a spokesperson.

“Additionally, I extend my heartfelt appreciation to the entire corporate communications team for their collaborative efforts and dedication to excellence. This award is for the whole team,” Soneye, who was represented by the Head, Relationship

& Stakeholder Management, NNPC, Mrs. Oluwakemi Olumuyiwa, said. He stated that the award serves as a motivation to continue striving for excellence in representing NNP, the sector and upholding the highest standards of communication.

The National Spokesperson' Awards held at the International Conference Centre is the highest honours celebrating Nigeria's outstanding image makers in corporate communications, public affairs, politics, media, advocacy, among others.

Soneye is a seasoned journalist with both full-time and freelance experience at some of the world’s most respected publications in Nigeria, Australia, and the United States of America.

A former president of the Nigerian Media Practitioners, Washington, DC, Soneye is a member of reputable bodies, including the Nigeria Union of Journalists (NUJ) National Association of Black Journalist, Society of Professional Journalists, and the Guild of Corporate Online Media Publishers.

Chairperson of the awards jury, Prof. Mabel Evwierhoma, while speaking at the event, stressed that winners and nominees were painstakingly picked after a thorough vetting process.

She described it as a highly competitive process, explaining that three persons emerged in each of the 20 categories that were up for grabs. She also encouraged those who did not win this time not to stop forging ahead with their calling.

“The significant growth in our earnings is a testament to the resilience, strategic focus, and efficiency of our team, and reflects the diversity of our offering across banking, pension, insurance, and payments driven by robust risk management, best-in-class corporate governance, and cutting-edge technology.

“As we look ahead, we remain committed to driving sustainable growth, consolidating our footprint, and accelerating the attainment of our 2027 strategic objectives,” the acting Group CEO stated.

Access Holdings’ regulatory ratios strengthened in 2023 as Capital Adequacy Ratios for the Group, and its flagship subsidiary, Access Bank, stood at 19.01 per cent and 21.09 per cent, respectively. The Liquidity Ratio remained robust at 51.8 per cent, well above the regulatory threshold.

“As we reflect on the results of 2023, characterised by robust growth, strategic acquisitions, and expansion into key trade hubs, I am excited about the prospects for Access Bank. “Our relentless focus on customercentricity, digital innovation, and

operational excellence has positioned us strongly to capitalise on emerging opportunities. As we enter the consolidation and efficiency phase of our Africa and international expansion strategy, we remain committed to driving sustainable growth, enhancing shareholder value, and delivering exceptional banking experiences to our customers across Africa and beyond,” the Managing Director, Access Bank, Roosevelt Ogbonna, remarked on the bank’s accomplishments.

Access Holdings’ other subsidiaries also posted strong results, as Access

Pensions Limited recorded a 75 per cent growth in gross revenues, amounting to N12.3 billion, while hydrogen payment services posted an operating income of N2.1 billion and a PBT of N161 million.

Access Holdings Plc acquired Megatech Insurance Brokers Ltd. (now known as Access Insurance Brokers Ltd.) and successfully completed a $300million capital injection into Access Banking Group, which acquired several entities, including Finibanco Angola S.A., and select Standard Chartered Bank operations in Africa.

US Court Documents Reveal Rapper Diddy Attempted to Engage Producer in Gay Sex

Alex Enumah in Abuja

Court documents sighted yesterday by THISDAY revealed that embattled music icon and rapper Sean "Diddy", attempted to engage his producer, Rodney "Lil Rod" Jones in "Gay Sex".

Jones in the legal suit with number 24-1457, filed last month is accusing Diddy, his son, Justin Combs and 10 others of sexual assault, trafficking, fraud, and cover up of breach of the Trafficking Victims Protection Act (TVPA) amongst others.

The plaintiff who had worked with Diddy on his most recent record, "The Love Album: Off the Grid," had instituted the legal action over alleged abuse he suffered in the course of his work.

"Throughout his time living

with Mr. Combs, Mr. Jones was the victim of constant unsolicited and unauthorized groping and touching of his anus by Mr. Combs. These events took place in LA, NY, FL, and the United States Virgin Islands", the documents stated.

The plaintiff in addition disclosed that as part of efforts at engaging him in gay sex, Diddy had capitalized on the fondness of Jones of another music producer, Steven Aaron Jordan (“Stevie J”).

According to the plaintiff's lawyer, Tyrope Blackburn, "Mr. Combs used access to Stevie J, and his knowledge of Mr. Jones admiration of Stevie J to groom and entice Mr. Jones to engage in homosexuality.

"Mr. Combs went so far as to share a video of Stevie J anally penetrating

a Caucasian male without a condom. This was done to ease Mr. Jones’ anxiety concerning homosexuality". He added that Diddy had explained the situation as a normal practice in the music industry, adding that, "look even Stevie J is doing it.”

Meanwhile, the plaintiff stated that Diddy also attempted to groom him in order to pass him off to his friends, including Cuba Gooding Jr. "As evidenced by a video, of which screenshots are imbedded below, Cuba Gooding Jr. began touching, groping, and fondling Mr. Jones’ legs, his upper inner thighs near his groin, the small of his back near his buttocks and his shoulders.

"Mr. Jones was extremely uncomfortable, and proceeded to lean away from Mr. Gooding Jr.

He rejected his advances and Mr. Gooding Jr. did not stop until Mr. Jones forcibly pushed him away".

Plaintiff, further disclosed that the rapper, On or about July 2, 2023, in California, had a "listening party" at his home. He said that the event which began at 7 pm, had Diddy requesting for female sex workers.

"In addition to sex workers, there were at least five women in the crowd that were under the age of sixteen. Mr. Combs forced all the women to drink laced DeLeon liquor. Upon information and belief, Mr. Combs laced the liquor with ecstasy.

"Mr. Combs did not check the identification of any of these underage girls. The presence of these underage women made Mr. Jones very uncomfortable.

CBN SETS NEW HURDLES FOR BANKS, RAISES CAPITAL THRESHOLDS TO N500BN, N200BN, OTHERS

institutions to expedite action on the recapitalisation to strengthen the financial system.

The banking industry apex regulator, in a circular addressed to commercial, merchant, and non-interest banks and promoters of proposed banks, which was signed by the CBN Director, Financial Policy and Regulation Department, Mr. Haruna Mustafa, further mandated the banks to meet the new minimum thresholds within 24 months commencing from April 1, 2024, and terminating on March 31, 2026.

The recapitalisation plan which was initially disclosed by the CBN Governor, Mr. Olayemi Cardoso, in his address to the Annual Bankers’ Dinner in November 2023, was to enhance banks' resilience, solvency, and capacity to continue supporting the growth of the Nigerian economy.

The CBN had urged the banks to consider injecting fresh equity capital through private placements, rights issues and/or offers for subscription; mergers and acquisitions (M&As);

and/or upgrade or downgrade of license authorisation to enable them to meet the new capital requirements.

Furthermore, the circular disclosed that the minimum capital shall comprise paid-up capital and share premium only, adding that the new capital base shall not be based on the shareholders’ fund.

The bank added that additional Tier 1 (AT1) capital shall not be eligible for meeting the new capital threshold.

Notwithstanding the capital increase, banks are to ensure strict compliance with the minimum capital adequacy ratio (CAR) requirement applicable to their license authorisation.

The CBN warned that in line with extant regulations, banks that breach the CAR requirement shall be required to inject fresh capital to regularise their positions.

The circular further clarified that the minimum capital requirement for the proposed banks shall be paid-up capital, and shall apply to all new

applications for banking licenses submitted after April 1, 2024.

However, the CBN said it would continue to process all pending applications for banking licenses for which a capital deposit had been made and/or an Approvalin-Principle (AIP) had been granted.

The bank added that the promoters of such proposed banks would make up the difference between the capital deposited with the CBN and the new capital requirement no later than March 31, 2026.

Meanwhile, the central bank has directed all banks to submit an implementation plan (clearly indicating the chosen option(s) for meeting the new capital requirement and various activities involved with their timelines) no later than April 30, 2024.

The apex bank also said it would monitor and ensure compliance with the new requirements within the specified timeline.

With the CBN stipulating that existing banks’ minimum capital

shall comprise paid-up capital and share premium only, this means that banks can no longer include their retained earnings which would normally be added to compute banks’ shareholders’ funds.

Accordingly, based on this new computation of the paid-up capital and share premium, banks with international banking licences such as Access Bank which currently has a minimum capital of N251.81 billion, would have to raise N248.19 billion to meet the new capital requirement of N500 billion.

In the case of other international banks such as Ecobank, it currently has a minimum capital of N353.51 billion, but would have to raise N146.49 billion; First Bank of Nigeria Holdings (FBNH) Plc with N251.34 billion, will need to raise N248.66 billion; FCMB with N125.29 billion, will need to raise N374.71 billion; GTB with N138.19 billion, will need to raise N361.81 billion; and Fidelity Bank with N115.31 billion, will need to raise N384.70 billion.

www.thisdaylive.com opinion@thisdaylive.com

GRIEVING FROM THE FRONT Efforts to comprehensively deal with violent crimes must be intensified, writes

Bolaji Adebiyi

BINANCE STAFF ESCAPE: WILL THINGS CHANGE?

The escape of the Binance executive is embarrassing. But there is nothing to suggest it will not happen again, writes

Joshua J. Omojowa

EDITORIAL

THE MENACE OF MARKET FIRE

ODE TO PEOPLE’S PRESIDENT

Today, I celebrate a timeless doyen of democracy and an astute mentor of many leaders, President Bola Ahmed Tinubu, GCFR. By global standards, Asiwaju is truly a man of the people and the visionary of our times, who devoted his life to pursuing the greatest goods to the greatest number of people. This has been the core of his heart and life from when he was a boardroom guru in the 1980s to when he joined partisan politics in the 1990s.

Born on March 29, 1952, Asiwaju’s foray into politics in 1991 was never a mistake, though it came cost dearly. As a Senator of the Federal Republic of Nigeria, I celebrate how with the people rather than dining with the military oligarchy that annulled the outcome of the June 12, 1993 presidential election ostensibly won by Chief M.K.O Abiola (now of blessed memory), an annulment that set our fatherland back to the pre-colonial era.

Asiwaju stressed forth his hands across Benue and Niger, and together, they rescued Nigeria from the hands of the regressives.

At 72, as the President of Nigeria, Asiwaju has brought rare conviction and passion to the business of public governance, courageously daring the forces of regression and tirelessly pursuing the interests of over 227 million regardless of their faith, ideology and race. The task is truly daunting, but the victory is undoubted. Only within 10 months of Asiwaju’s ascendancy to the presidency, we have started witnessing the dawning of economic restoration and the ray of political renaissance under his watch.

At 72, as the President of Nigeria, Asiwaju has brought rare conviction and passion to the business of public governance, courageously daring the forces of regression and tirelessly pursuing the interests of over 227 million regardless of their faith, ideology and race

I also celebrate how Asiwaju teamed up with the progressives to establish the National Democratic Coalition, a movement of likeminds challenged the regime of the late tyrant, General Sani Abacha; mobilised support for the restoration of democracy to our fatherland and campaigned for the recognition of Chief M.K.O Abiola as the winner of the June 12 presidential election. And this conviction and pursuit eventually earned him exile from the land of his birth. Yet, he was undaunted in his quest to see his fatherland liberated from the era of locusts that pitched us against the comity of nations.

I celebrate how Asiwaju returned to Nigeria in 1998 when the darkest into the abyss of extinction after the people. The end of the dark era culminated in his election as the third civilian governor of Lagos

State in January 1999. Though faced with diverse heinous challenges at the inception, Asiwaju came out strong and victorious, setting Lagos on the path of irreversible progress, reforming the coastal state to a globally competitive smart city and turning it to a constant destination of strategic investment. And the world can no more look away from Nigeria just because of the pro-people reforms he carried out in Lagos.

Asiwaju’s quest for the greatest goods for the greatest number of people pushed him to national politics, the kind of venture that consumed the nationalists and patriots who lived challenged the traditional forces that fought for the soul of our fatherland on the platform of the defunct Action Congress, and it did not entirely produce an enviable outcome. He later switched to the Action Congress of Nigeria, and banished the regressive elements from the six states of the South-west. Full of hope,

As I nostalgically so far, I remember his labour and toiling for our fatherland, even when most misunderstood. I remember his undying passion to lead the path to a greater nation, even when the future looks so bleak and always unsure. I remember his utter commitment to a movement of patriots and progressives eternally sworn to rescue our fatherland from the claws of the ageless vultures and the blood-thirst beaks of mindless hawks that always Despite their ferocity, he eventually subdued the enemies of our souls, even right in the midst of inferno they set ablaze for us all.

That is the reality in our fatherland today. Asiwaju is at the forefront of that reality. And we are all witnesses to this history, even from its making to its maturation. Now, as he graciously turns 72 on this auspicious day, I cannot, but earnestly pray God grants him longer life and inner strength to steadily paddle the ship of our nation to the coast of endless ecstasy.

Heartiest 72nd Birthday, my leader and mentor.

•Senator Bamidele, Leader of the 10th Senate, writes from Abuja

OPEYEMI BAMIDELE pays tribute to President Bola Tinubu at 72

Editor, Editorial Page PETER ISHAKA

Email peter.ishaka@thisdaylive.com

EDITORIAL

THE MENACE OF MARKET FIRE

The authorities should enforce the fire codes and regulations

Alarmed by the spate of market fires in the country, the National Association of Nigerian Traders (NANTs) has expressed concerns that trillions of Naira worth of goods and property are lost annually to these tragedies. Indeed, we have had more than enough fire outbreaks that ought to have warranted the entrenchment of various forms of mechanism by the operators of these markets to reduce occurrences. Most irksome is that some of the incidents culminating in colossal damage were caused by the careless attitudes of individuals. What compounds the tragedy is that in many of the instances, authorities only offer sympathy visits and pronouncements of support, which were hardly backed up with concrete measures.

Perhaps what makes these losses haunting is that most traders do not insure their goods.

are also available here, but they are rarely enforced. Indeed, in many markets, there are limited access points through which fire fighters and emergency personnel could gain entrance to put off fire before it spreads. Yet, what all the recent developments point to is that there is a need for better appreciation of the challenge posed by fire outbreaks so that the authorities can begin to fashion how to deal with them.

It is important to make allowances for a possible outbreak of fire by ensuring the availability of fire-fighting equipment in such facilities.

Making such allowances is indeed part of urban planning

Many of the fire outbreaks have been linked to factors such as fuel storage, power surge, illegal connection of electricity, carelessness due to lit matches or forgotten candle lights, stoves, cookers, and gas cylinders in the markets as well as ignorance of safety procedures. Beyond the usual lamentations, it is imperative to ask whether serious consideration is ever given to the inevitability of fire outbreaks in many of these markets and indeed in private and public buildings. In many countries, it is not just enough to design and construct buildings, it is also important to make allowances for a possible outbreak of fire by ensuring the availability of fire-fighting equipment in such facilities. Making such allowances is indeed part of urban planning.

We are aware that such codes and regulations

DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH

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

To reduce the increasing regularity of fire outbreaks and the attendant dangers to lives and property, it is important to step up advocacy on the issue; conduct regular fire drills in markets and other public buildings; enforce existing fire codes and raise the profile and the resources available to our fire services. It has also become increasingly important that traders should get their shops and goods insured. That is the only way they could recover goods lost to fire disasters.

The Controller General, Federal Fire Service, Jaji Abdulganiyu has been proactive in public enlightenment campaigns. “Only a few traders and shop owners are enlightened and cultured enough to appreciate the importance of obtaining and installing fire protection devices like hydrant, water sprinkler systems, smoke alarms, fire extinguishers, fire blankets,” Abdulganiyu wrote in a recent newspaper article. “The Federal Fire Service is willing to train the market security guards as fire wardens at the National Fire Academy so that first aid firefighting can be learnt and prep them for eventualities relating to fire hazards.”

We call on the federal, state, and local governments to come up with sound and effective mechanisms to protect our markets from fire incidents. Stringent measures should also be put in place to punish any individual or group which carries out any activity resulting in an inferno.

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

NIGERIA AND LIST OF TERRORISM SPONSORS

sponsoring terrorism in Nigeria. No drums were rolled out with the list, and every objection will be spent even before it is voiced. This is because Nigeria is not yet home and dry on the issue of combatting terrorism. Indeed, every vestige of vigilance is still needed.

Slowly but steadily, Nigeria is putting names to its nemeses, naming its shamers and perhaps maiming their memories. The country appears ready to move on from what is surely one of its darkest chapters,

On Monday, 18 March 2024, following the directives of the federal government, the Nigeria Sanctions Committee released a list of those accused of sponsoring terrorism in the country. The list which contains nine individuals and six companies has apart by terrorism, but the fact that there could be more where it came from means that the days of terrorism may yet be numbered in the country.

In 2021, the UAE was said to have handed over to the Federal Government a list of those sponsor-

ing terrorism in the country. Nigerians immediately expected the names to be made public, but it was never done, as the list soon became one of the sorest points in a country where terrorism continued to do irreparable harm.

and information, power. The traumatized victims of the Kaduna train attack in 2022 should know those who sponsored their nightmare. The children of Baptist High School Chikun, Kaduna State, who spent months in horrifying captivity should know The villages of Southern Kaduna which have since lost count of their dead and missing should know those determined to annihilate them.

The list which had gathered dust after the previous administration preferred to shield it, perhaps in obeisance to parochial interests, should now give Nigeria a leverage in the war against terrorism.

cause of the rupture. Knowing why something is broken and how it was broken aids repair and even reparation. Nigeria’s confrontation with terrorism

their pain, anguish, and distress. This kind of victiming, putting names to faces and faces to names.

The child who has lost both parents and limbs to terrorism should know at whose word and will were razed and teachers beheaded should be able to pinpoint with certainty those responsible for their broken dreams.

Lists like this often become tiny lips of light, piercing hitherto impenetrable darkness and illuminating stories and sorrow. Nigeria is one gigantic station of stories and sorrows and to illuminate its struggle and validate its sorrows, more lists like these are needed.

The list of the those who have sabotaged the country economically is needed. Oil thieves, fuel subsidy scammers and even internet fraudsters should be included. The callous champions of Nigeria’s corruption should also have ample space to write their

names in infamy. There should also be a list for the saboteurs of Nigeria’s democracy. All those whose death marks appear on the corpse of democracy in the country should feature on that list. Coup plotters, corrupt members of the executive, judiciary and legislature, and of course, all those who have scuttled previous elections in the country should all have notable mentions.

fore, and engenders becoming. People and things often grow into the names they bear. In other words, their names. That is the power of a name.

A name also imputes responsibility, implicates people for accountability, and unravels impunity.

In naming those who sponsor terrorism in the country, the current administration has shown that it may just have enough to elide the execrable excesses of the previous administration. It is a good sign because government is worse when it is governed by secrets and long shadows.

•Kene Obiezu, keneobiezu@gmail.com

RATES AS AT MARCH 28,2024

Customs Agents to FG: Terminal Operators Monopoly, Lack of Economic Regulator Fuelling Unwholesome Practice at Ports

Eromosele Abiodun

Customs agents in the country have called on the federal government to urgently review Nigeria Ports privatisation peocess, which they said was done without legal framework and economic Regulator.

The lack of legal framework, they stated, has made doing business in Nigerian ports cumbersome, lengthy and bedeviled with unwholesome practice, a development that has made the Ports the most expensive within West African sub-region.

The President of the National Council of Managing Directors of Licensed Customs Agents (NCMDLCA), the umbrella body of customs agents in the country,

Lucky Amiwero, stated this in a petition to President Bola Tinubu.

According to the agents, “We are more concerned about the process of privatizing Nigerian Ports without legal framework and economic Regulator, which has constituted hindrance, that resulted to: gridlock on our roads, no holding bays, No trailer parks, no Government warehouses in the Ports, No regulator to check the private monopoly of the Terminal Operators, these components where excluded from the Port privatization process.

“The Holding Bays that existed before 2005 within and around the Ports, was ceded out as land space to terminal operators, without providing alternatives, all the spaces used for

various activity to enhance port activities, was ceded to Terminal Operators, forcing the Trucks, lorries to use the available Port access road to hold empty containers and wait as holding bay, awaiting access to the Port to load clients consignment. There are no government warehouse to place government cargoes , No trailer Parks , no Economic Regulator, no holding bay, duplication of charges and charges not tied to service is prevalent in our port system.”

The Nigeria port system, they added, was created to serve the economy and meet the needs of Port users in a manner, which is economically and environmentally sustainable.

“However, After 19 years in to the

lease agreement Tagged concession, there is the need to ascertain, if the objective of the Port Privatization, deceitfully Tag concession has been realized, in line with objective of the Bureau of Public Enterprises (BPE) , putting in mind the provision of Section 7(c ) of the Port Act 38 of 1999. The provision of Section 7-(c) of the Port Act clearly states:

Ensure the efficient management of port Operation, Optimal allocation and use of resources, diversification of sources of revenue and guaranteeing returns on its investment in order to contribute effectively to the well-being to Nigeria n society, “they said.

The agents stressed that the exclusion of the three components:

Legislative Framework, Commercial/ Economic Port Regulator and concession, from the inception of the port privatization process in 2005, created room for the present hindrance in the system, “the principle of concession was jettisoned, there is no provision of concession in Nigerian Ports Authority Act 38 of 1999, but only lease agreement for five years, as contained in Section 25-(2). The impediment makes our port one of the most expensive in the Globe, which gave the Terminal Operators and Shipping Companies advantage to manipulate and control the Ports System, that lead to bottleneck, Gridlock on port access roads, high cost of clearance and extreme private

monopoly to the detriment of the economy.”

The agents therefore called on the federal government to set up a committee address the hindrance and impediment in the port system which attract high clearance cost, bottleneck, inconsistency and charges not tied to service collected by various organization. They added, “The lengthy and cumbersome process excludes Nigerian Port as A load center, preferred Port or transshipment hub, due to the complexities inherent in our Port system, which makes our port the most expensive in the globe.”

Chinedu Eze

Travel agents have expressed optimism and joy that airfares on international destinations are beginning to come down as the appreciation of the Naira over dollar has started reflecting on the International Air Transport Association (IATA) exchange rate, which is the bench mark that foreign airlines use to determine their fares.

The General Managing Director,

Flinchglow Holdings Limited and immediate past President of National Association of Nigeria Travel Agencies (NANTA), Mr. Bankole Bernard, told THISDAY in an exclusive telephone interview that airfares are going down because it is a reflection of what is going on in the foreign exchange market.

He said in determining the exchange rate, IATA depended on the Central Bank of Nigeria (CBN) rate.

This, he added, has brought relief stressing however that the cost of tickets is still high because $1,000 ticket is N1.3 million as at Wednesday, March 27, 2024.

Bernard who operates some of the biggest travel agencies in Nigeria, said another relief is that foreign airlines are beginning to open up their lower inventories or cheap fares to Nigerian travellers, which were hitherto closed because of the drastic depreciation of the Naira, exacerbated by the inability

of the operators to repatriate their revenues from the country.

He added that even when the fares were high, Nigerians were still travelling, “and now that the fares are coming down more Nigerians will travel. The planes that are leaving Nigeria are always full because Nigerians are passionate about travelling. Now, what we are gaining as travel agents is that we are no more buying tickets from outside because when the fares were high in Nigeria and the

lower inventories were open in other countries, we were buying tickets through other countries because they were cheaper there but very costly in Nigeria. Airlines were opening up their lower inventories outside Nigeria and we were buying in foreign currency. Naira was not favourable to the airlines. So, we are getting our market share back. Planes are filled up with passengers every day.”

THISDAY learnt that Qatar Airways is the only airline that most

of the time operates two flights a day from the nation’s busiest airport, the Murtala Muhammed International Airport (MMIA), Lagos.

Bernard explained that one of the reasons why airfares in Nigeria are high compared to other countries in West and Central Africa is because the taxes paid by airlines that operate to Nigeria are high.

NiMet: Effective

Early Warning System Will Boost Food Security

Stories By Chinedu Eze

The Director General and Chief Executive Officer of Nigerian Meteorological Agency (NiMet), who is also the Permanent Representative of Nigeria with World Meteorological Organisation (WMO), Professor Charles Anosike, has said that effective early warning system, equipping farmers with the knowledge of weather patterns and seasonal forecasting could boost food security and ensure adequate protection from climate disasters.

Anosike was speaking recently as a panelist during the USAID Global Food Security Strategy Country Plan launch in Abuja. The panel

discussed the role of development partners and Nigerian MDAs in ensuring food security.

Anosike said that Nigeria is presently facing food security challenges, which requires a new way of thinking by integrating weather and climate related factors into the entire agricultural value chain. According to Anosike, “NiMet is working with partners to mainstream weather and climate information in the agricultural value chain. We are using co-production mechanism to facilitate our seasonal climate prediction. NiMet ensures appropriate understanding and use of weather information by stakeholders to improve planning

and strategic decision making. Our annual Seasonal Climate Prediction (SCP) is a climate action -early warning tool that gives an outlook of weather and climate variability in upcoming months within the year. It highlights rainfall patterns and temperature variability.”

Continuing, Anosike said: “Unpredictable rainfall patterns and extreme events can trigger competition for food and water. Declining agricultural outputs can lead to loss of income and exacerbate food insecurity. Temperature changes affect crop growth and yield, and can also destroy crops during post processing and transportation.”

NGO Donates Cash, Gifts to Families of Deceased Firefighters

The families of two firefighters who died in active service have received cash donations to support the education of their children from primary polytechnic education.

A Non-governmental Organization (NGO), the Women Rescue and Firefighting Forum (WRFFFORUM) made the cash donation and other gifts to the deceased families over the weekend at the FAAN Rescue and Firefighting Unit, MMIA, Lagos. President of the NGO, Mr. Frank Osadebe said the NGO’s aim was to give hope and succour to the victim’s family, provide education, safety training to schools and organizations, support and advocacy for fire service women.

According to him, they have been able to put smiles on the faces of bereaved family of firefighters who risked their lives saving others.

“We want to be able to help those that are bereaved while in service or she rescuing people and their children who are not able continue with school or who are not able to help themselves in life, we try to come to their aid and see what we can do for them. We have been able to help some persons, one of them has a disabled leg, we are also trying to fix that too,” Osadebe said.

According to Osadebe, they are collaborating with the Federal Ministry of Humanitarian Affairs to reach many Nigerians in need

AIR WATCH

Evaluating Kuku 100 Days After

Chinedu Eze

On December 18, 2023, the newly appointed Managing Director of the Federal Airports Authority of Nigeria (FAAN), Mrs. Olubunmi Oluwaseun Kuku, met with the top officials of the agency and media to unveil her plans on how to sustain the efforts of her predecessors and also carve a niche for the organisation and move it forward.

of support, assistance and rescue in the event of emergencies or death.

Secretary of the Women Rescue and Firefighting Forum, Ms. Isebor Amaka, called on well-meaning Nigerians and organizations to come to the aid of one of the daughters of a deceased firefighter who is physically challenged and need surgery on her legs.

“We just want Nigerians to help her fix her leg, the earlier we do it, the better. I know we can all do it because you have been doing it and we want to say thank you for the ones you have done already,” Amaka said.

She urged Nigerians to be their brother keepers and support those in need.

Boeing Announces Board, Management Changes

President and CEO of Boeing, Dave Calhoun has announced his decision to step down as CEO at the end of 2024, and he will continue to lead Boeing through the year to complete the critical work underway to stabilise and position the company for the future.

Board Chair Larry Kellner has informed the board that he does not intend to stand for re-election at the upcoming Annual Shareholder meeting. The board has elected Steve Mollenkopf to succeed Kellner as independent board chair. In this role, Mollenkopf will lead the board’s process of selecting Boeing’s next CEO.

In addition to these changes, Stan Deal, Boeing Commercial Airplanes President and CEO, will retire from the company and Stephanie Pope has been appointed to lead BCA, effective today.

“It has been the greatest privilege of my life to serve Boeing,” said

Calhoun in a letter to employees.

“The eyes of the world are on us, and I know that we will come through this moment a better company. We will remain squarely focused on completing the work we have done together to return our company to stability after the extraordinary challenges of the past five years, with safety and quality at the forefront of everything that we do.”

In addition to these changes, Boeing Commercial Airplanes President and CEO, Stan Deal, will retire from the company and

Stephanie Pope has been appointed to lead BCA.

“It has been the greatest privilege of my life to serve Boeing,” said Calhoun in a letter to employees.

“The eyes of the world are on us, and I know that we will come through this moment a better company. We will remain squarely focused on completing the work we have done together to return our company to stability after the extraordinary challenges of the past five years, with safety and quality at the forefront of everything that we do.”

Heirs Technologies to Drive Digital Transformation with IT Services Delivery

Emma Okonji

Heirs Technologies, which has core values for excellence, enterprise and execution, is set to address the Business-to-Business (B2B) segment of organisations’ operations with its Information Technology (IT) services delivery that will enable organisations to focus more on their core business.

Group Business Editor

Eromosele Abiodun

Deputy Business Editor

Chinedu Eze

Comms/e-Business Editor

Emma Okonji

Asst. Editor, Money Market

Nume Ekeghe

Senior Correspondent

Raheem Akingbolu (Advertising)

Correspondents

Emmanuel Addeh (Energy)

KayodeTokede(CapitalMarkets)

James Emejo (Finance)

Ebere Nwoji (Insurance)

Reporters

Peter Uzoho (Energy)

Ugo Aliogo (Development)

The technology service delivery company said it has three core areas, through which it would support organisations for profitability and growth in today’s digital era. It listed the three core areas to include IT Consulting, Managed Services and Business Process Outsourcing.

Announcing its readiness to provide IT services to organisations at a press conference in Lagos on Wednesday, the MD/CEO of Heirs Technologies, Mr. Obong Idiong, said through its IT Services delivery, Heirs Technologies would empower Africa’s digital transformation through innovative and locally tailored solutions. According to him, Heirs Technologies has multiple strategies to achieve its implementation goals.

“We are partnering with foreign technology solution providers like Infosys, Daon, Microsoft, Huawei, Cisco, HP, Dell, Oracle, among others to bring emerging technology solutions to Nigeria and loacalise them in such a way that will help organisations in

Nigeria and other African countries to address identified local challenges,” Idiong said.

Addressing Business Process Outsourcing (BPO) as its core area of service delivery, Executive Director at Heirs Technologies, Mr. Anant Rao, said the company would be providing IT BPO services involving a range of technology-based solutions to clients that would enable organisations to focus on their core business functions, while leveraging specialised experts and resources. The BPO services, according to him, involves IT talent outsourcing, Solutions delivery team, Business process optimization, and Technical support services. He said Heirs Technologies has all it takes to deliver IT Managed services and BPO services to organisations, amid growing competition of IT services providers in Nigeria.

Chairman, Heirs Technologies, Dr. Fumbi Chima, who spoke passionately about the company’s i-Academy, said the academy remained Heirs Technologies’ training institute, dedicated to enhancing technical proficiency across the Group companies and external recruits, designed to build talent pipeline of resources committed to rendering exceptional service delivery for its three business lines- OEM Support, Business Process Outsourcing and Managed Services that would enable it achieve its revenue targets.

What is special about her appointment is that she was the first woman appointed as Managing Director of FAAN, which is like an octopus with about 24 airports under its management. What was also discernible on the day she addressed the organisation’s officials was her youthful looks, reinforcing President Bola Ahmed Tinubu’s inclination to appoint young men and women to handle strategic agencies of government.

That was over100 days ago and so much has happened since then. Within the period, feedbacks from workers and other industry stakeholders revealed that Mrs. Kuku has kept the agency on a good pedestal and from what she has done so far, there is brimming hope that FAAN will experience unprecedented transformation, as indicated by the foundation she had laid so far.

Within this period also, she was able to weather the storm of the relocation of the headquarters of FAAN from Abuja to Lagos through strategic information management; when Nigerians were made to know that it was the right decision to safe the agency from going bankrupt and also to improve the output of the personnel.

After almost one year under reconstruction, Mrs. Kuku was able to reopen the 3.9-kilometre Runway 18R/36R at the Murtala Muhammed International Airport (MMIA), Lagos used mainly for international operations.

During the closure of the runway, many international airlines had complained about the inconvenience of landing at the alternative runway, Runway 18L, known as the domestic runway, as they burn more fuel taxing from the international terminal to the runway.

The reopening of the international runway eased heavy traffic on the domestic runway, as all the flights were using only one runway before then and encountered delays while landing and taking off.

In order to witness first-hand the operations at the international terminal of the Murtala Muhammed Airport, Lagos, the country’s busiest gateway, the Managing Director went on inspection of activities at the terminal during peak hours and discovered the chaos going on, which she made efforts to stop. She was able to deploy security operatives at strategic locations at the facility to ensure that those who are not travelling do no access the terminal in order to avoid congestion.

She also directed that VIP vehicles which hitherto blocked the entrance to the terminal were kept at bay, while the drop off zone rule was strictly adhered to avert vehicular congestion at the entrance of the terminal.

In the last 100 days, Mrs. Kuku had spearheaded the successful completion of the training of 201 officers and men of Aviation Security (AVSEC) in the training and retraining programme. She established the Emergency Operations Centre (EOC) at the Lagos and Abuja airports to attend to critical exigencies in the course of operational activities. She has also seen to the provision of communication equipment, including 3000 units of hand-held radios (walkie-talkie-) as critical equipment for security operatives inside and outside airport terminals, to ensure efficient communication among the operatives. Before the recent procurement, only 300 units were in operation.

The Management Director of FAAN in February made a debut at the Airport Council International (ACI) Africa and succeeded in repositioning Nigeria to its prime place. Nigeria is one of the countries with the highest number of airports in Africa.

According to the Director, Public Affairs and Consumer Protection, FAAN, Obiageli Orah, Mrs. Kuku, made a momentous debut at the 71st Airports Council International (ACI} Africa Board Meeting, Regional Committee Meetings Regional Conference and Exhibition, held in Cairo, Egypt, noting that her attendance marked a significant milestone for her leadership and the strategic advancement of FAAN.

“During the conference, Mrs. Kuku actively engaged in exclusive sessions tailored for airport chief executives and board members. These discussions revolved around governance, regulatory frameworks, and setting strategic directions for airports across the continent, emphasising collaborative governance

models for enhanced operational efficiency and sustainability.

“A key focus of Mrs. Kuku’s attendance was fostering relationships with fellow CEOs and exploring potential partnerships to leverage innovative technologies for revolutionizing airport operations, passenger experiences, and safety standards.

“Under her guidance, collaborative discussions centered on integrating cutting-edge technology within airport ecosystems. Topics ranged from biometric screening to advanced baggage handling systems and digital passenger services, all aimed at establishing new benchmarks for passenger service excellence,” the Director said.

Back in Nigeria, Kuku recently hosted the unveiling of the reopened now Bola Ahmed Tinubu International Airport, Minna after massive rehabilitation in collaboration with the Niger state government.

The new facility is being expanded to accommodate cargo terminal and related facilities, while FAAN had revamped the passenger terminal, the runway and extended infrastructure.

During the reopening of the airport, Mrs. Kuku said, ““At FAAN, one of our key aspirations is to help grow Nigeria’s economy through the facilitation of exports. We believe that with some investments in the right areas, we can put a huge dent in the N3.6trillion worth of perishable goods lost annually. Therefore, we are excited that the Niger State Governor has promised to complete the cargo and international terminals within a short time. We encourage him to do so as we cannot wait to assist the ambitions of the state to be the biggest food producer and food exporter in the country.

“President Tinubu’s commitment to progress, innovation, and excellence is evident in all his policies and programmes and at FAAN, we are happy to have partnered with the equally visionary leadership of the Niger State Government, ably-led by Governor Bago, on the project.

Kuku had also stated at the Minna airport that the Nigerian economy and revenue drive would receive boost when the proper investments are made into the exportation of food and other perishables via air transportation, adding that FAAN had done much to improve infrastructure at the airport.

“The overhauling of the runway and construction of the passenger terminal in a very short timeline was a daunting task that required much expense and synergy between all parties involved. I am indeed grateful that this project will forever be seen as a symbol of our nation’s dedication to advancing infrastructure, enhancing connectivity, and fostering economic growth. We believe that the Bola Ahmed Tinubu International Airport, Minna, will serve as a gateway to the world, facilitating trade, tourism, and collaboration on a global scale,” she said.

Mrs. Kuku, as commonly stated, has kept the flag flying, but Nigerian airlines and travellers would want FAAN to install airfield lighting at many airports that currently do not have the facility so that flights can land there in the night. FAAN is also expected to reinforce airport security to further secure the airports. Many stakeholders believe that with the pace recorded so far, Mrs. Kuku would actualize her set goals in the long run.

Of FAAN and Deplorable State of Airport Facilities

Chinedu Eze writes that the Federal Airports Authority of Nigeria lacks the freedom of innovation to manage the deplorable state of airport facilities

One of the major challenges the Federal Airports Authority of Nigeria (FAAN) is facing is that it earns profitable revenue from four airports and deploys the revenue to manage 24 airports.

From its lean earnings, the agency still pays 50 per cent compulsory remittances to the federal government, and this explains why many of the airports under its management do not have airfield lighting. This also explains why many of the airports do not have state-of-the-art facilities and this also explains why it takes a long time for the agency to rehabilitate airport infrastructure that have become obsolete or broken down.

Inside sources told THISDAY that FAAN does not have adequately trained staff because many of them do not undergo training as at when due because of paucity of funds. In many departments, especially in the technical areas, the agency is short staffed. This is why there are fewer Aviation Security (AVSEC) personnel at the central search at the E and D gates of the Murtala Muhammed International Airport (MMIA), Lagos the busiest gateway in Nigeria. Because of paucity of AVSEC staff, all the X-ray machines are not manned effectively, even at peak hours and that is why passenger processing takes a long time. From 5:00 pm in the evening, passengers can stand for over one hour waiting to be screened by security officials. Compared to other airports in Africa, no Nigerian airports is among the first 10 best airports in Africa and Nigeria has 24 airports under FAAN management in addition to the about five airports built and managed by the state government. Functionality is what characterises a good airport. That is why the airport in Togo is said to be better than any Nigerian airport. Katoka International Airport, Accra is rated higher than MMIA.

A former private jet charter operator told THISDAY that modern international airports have effective Internet that any passenger who has boarding pass easily connects to. There should be enough seats at the departing passengers lounge and conveniences (lavatories) are well maintained and enough to adequately service passengers.

“But at the Nigerian airports there are no toilet roles, even when there are the toilet attends will unfold it and give you a little, as if they are doing you a favour. In addition to that they will also be soliciting for money. When you see them, they look hungry and sometimes unkept. All these are what nonNigerian passengers see and write us off. And there have never been any efforts to

correct these lapses, as Managing Directors of FAAN come and go and as Ministers of Aviation come and go,” the operator said.

INTERFERENCES

FAAN is the aviation agency that suffer the greatest interference from the Ministry of Aviation. FAAN officials told THISDAY that many decisions and actions in FAAN are taken directly from the Ministry of Aviation; that the former Minister of Aviation simply micromanaged the agencies, especially FAAN. “You can come in and see some people installing equipment at the international terminal of the Lagos airport. You make inquiries and you find out that the Managing Director is not aware of that. They will tell

you they got approval from the Ministry. So, the Managing Director is not even free to manage the airport. He or she must resort to the Ministry to get approval for most things. Now, most of our earnings go to them. Recently because of the dollar and naira disparity, everybody is now eyeing the revenue of FAAN, even as we are already paying the compulsory remittances,” a FAAN official said.

Some FAAN officials are of the view that FAAN can effectively manage the airports if it is given some levels of autonomy enshrined in the Act and not arbitrary decision taken by the President of the time. They said FAAN should be run as a corporate organization with members of the board and transparent management.

“We know our airports are not operating with the global standard, but that is where we see ourselves. All those airports they cite as examples are run differently. You can go and check. We are just the children of the Ministry. Ministry is our mother that tells us what they do, but instead of giving us food to eat; they take the ones we have got. It is a pity,” another FAAN official said.

FAAN/STATE AIRPORTS

Some state governments had built airports and when they realised that they would not be able to fund its maintenance, they hand them over to FAAN through the approval of the Ministry of Aviation.

To this end, the Managing Director of Flight and Logistics Solutions Limited, Amos Akpan urged state governments not to embark on building airports when they know they do not have the resources to manage them. Airports have to be viable to sustain their operations and they need high calibre personnel to maintain and run them.

The story continues online on www.thisdaylive.com

Onyejeocha Champions Nigeria’s Interest at ILO Session

Emameh Gabriel writes about the engagements of Nigeria’s Minister of State for Labour and Employment, Hon Nkeiruka Onyejeocha, at the just concluded annual session of the International Labour Organization in Geneva, Switzerland.

The 350th session of the International Labour Organisation (ILO) wrapped up in Geneva, Switzerland, on Friday, March 15, 2023, following two weeks of intensive discussions on crucial labour issues.

The session provided a platform for member- states to address critical labour and other key issues that jointly affect them.

Nigeria’s Minister of State for Labour and Employment, Nkeiruka Onyejeocha, played a pivotal role in representing the nation’s interests and advocating for key priorities.

The conference prioritised strengthening the global response to child labour, a significant concern for many countries.

Discussions also focused on ensuring adherence to the updated ILO Declaration on Fundamental Principles and Rights at Work (2022). This declaration emphasises core labour principles like freedom of association, elimination of forced labour, and non-discrimination.

The session also reviewed progress on the ILO Action Plan for Gender Equality (2022-2025), which aims to bridge the gender gap in the workplace, one of the key areas the Minister has strongly advocated for in the last decade in the parliament.

Additionally, updates were provided on initiatives like the Global Coalition for Social Justice, highlighting the importance of international cooperation in addressing labour challenges.

Furthermore, the conference addressed concerns regarding democratisation within the ILO’s governance structure and the ratification of amendments to its constitution. Discussions also addressed labour rights violations in specific countries, including Belarus, Myanmar, Venezuela, Russia, Ukraine, Nicaragua, and Bangladesh.

During the conference, Onyejeocha in her usual stance, ensured that Nigeria’s perspective was heard. On the sideline of the event, she advocated for several key priorities that align with President Bola Tinubu’s administration’s goals, which include the call for the ILO’s increased support in developing youth employment programmes and skills development initiatives in Nigeria.

This focus aligns with the administration’s recognition of youth as a critical driver of national development.

The Minister, who on behalf of Government of Nigeria, congratulated Gilbert Houngbo as the first African DG of the ILO after over 100 years of its establishment, assured him of President Tinubu’s support and cooperation on strategic partnership.

She also commended his achievements, including promoting social justice and fighting inequalities in the world of work.

She commended the ILO’s successful implementation of programmes in Nigeria, particularly those focused on youth employment, a key priority for the current administration.

During her meeting with the DG, the Minister announced Nigeria’s candidacy for re-election to the ILO governing body for the 2024-2027 triennium. The governing body is the executive council of the ILO and plays a vital role in shaping its policies and programmes. The Minister believes Nigeria’s re-election would solidify the country’s voice within the organisation and enable it to contribute more effectively to global labour issues.

“Nigeria is the second highest African contributor to the ILO budget (next to South Africa), thus the need to be more involved and strategically placed in

the ILO. We therefore specially request that more Nigerian professionals to be employed into the ILO to bridge the under-representation of Nigeria in the

ILO workforce, both locally and internationally”.

She emphasised the need for “increased efforts” to establish social

security programmes for Nigerians.

Social security provides a safety net for citizens, particularly those facing unemployment, illness, or old age.

Onyejeocha did not stop there, she highlighted Nigeria’s underrepresentation within the ILO workforce and requested increased opportunities for Nigerian professionals. This aligns with the desire for a more inclusive and representative in ILO. She also proposed upgrading the ILO office in Abuja to a “Decent Work Office” serving Englishspeaking West African countries.

She said “this would strengthen the ILO’s presence in the region and enhance its ability to support member states”.

Onyejeocha emphasised Nigeria’s commitment to partnering with the ILO to promote decent work and social justice for all Nigerians. This commitment aligns with the ILO’s core objectives of creating a fair and just global labor market.

On his part, Director-General of the ILO, Houngbo, commended Onyejeocha’s leadership and expressed appreciation for Nigeria’s contributions to the organization. He pledged ILO’s continued support for Nigeria’s development efforts, particularly regarding youth employment and social security.

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

At 52, Benson Soldiers on with Exceptional Lawmaking

Udora Orizu pays tribute to ranking Chairman of the House of Representatives Committee on Defence, Hon Babajimi Benson, as he clocks 52 on Saturday.

The member representing Ikorodu Federal Constituency of Lagos State in the House of Representatives, Hon Babajimi Benson, will turn 52 on Saturday, March 30, 2024 and is serving his third term in the Green Chamber of the National Assembly.

At this age that comes with fragility and number of years in the parliament that triggers complacency, the undoubtedly cerebral lawmaker is proving economists wrong as far as the Law of Diminishing Marginal Utility assumes.

The law of diminishing marginal utility explains that as a person consumes an item or a product, the satisfaction or utility they derive from the product wanes as they consume more and more of that product.

Rather, JB (as he’s popularly called) is giving more meaning to the saying that: “The older the wine, the sweeter it is”, through quality legislation, representation and of course, oversight, being the cardinal duties as well functions of a legislator and the legislature.

Just as it was in his first and second tenures between 2015 and 2023 when he was relatively young, within the ruby to golden jubilee, the two time Chairman of the House Committee on Defence has continued to wax stronger in the performance of his constitutional, national and constituency duties with ‘uncommon grit’ (Apologies to Senate President Godswill Akpabio).

Benson, as a matter of fact needs no introduction to many Nigerians, having served and led in critical areas of the socio-economic spheres.

He chaired the House Committee on Banking and Finance, Sub-Committee on Habitat, Deputy Chairman, Committee on Delegated Legislation; member of Committees on Works and currently chairing the Defence Committee from June 2019 to date.

But, for some others who may not know, Benson was born in 1972 in Ikorodu, Lagos State; studied law at the Lagos State University; graduated in 1994 with an LLB and attended the Nigerian Law School in 1995 and bagged

a Bachelor of Law (Honours).

He then proceeded to obtain an LLM in Comparative International Business Law at the London Guildhall University graduating with a Merit in 1999 and capped it up with a Master of Business Administration (MBA) from Warwick Business School (UK).

A member of the Nigerian Bar Association and the International Bar Association, he worked variously as a Legal Officer in the General Counsel Division at the United Nations Headquarters, New York; in-house Legal Counsel at Ecobank; Deputy Manager (Legal), Lead Bank PLC; Non-Executive Director at the Lekki Freetrade Zone and Company Secretary (Strategy, Legal & Corporate Governance), Lagos State Development & Property Corporation (LSDPC).

Armed with that rich high profile public as well as private sectors experience and the crave to serve his people and nation better, Benson was first elected into the House of Representatives to represent Ikorodu Federal Constituency in 2015, re-elected in 2019 and again returned at the 2023 general election on the platform of the All Progressives Congress (APC).

Consolidating and even thriving as if to surpass his previous legislative outings, the lawmaker who retained his Defence Committee Chairmanship position, a feat rarely attained

except in justification of the proverb that: “the reward for hard work is more” resumed his third term with advancing age on impressive ground.

To mention but a few, in the preceding tenure, Benson sponsored the Good Samaritan Bill, Constitution of the Federal Republic of Nigeria, 1999 (Alteration) Bill, 2020 to address the need for defined periodic population census in Nigeria, Electric Power Sector Reform Act (Amendment) Bill, 2020, Constitution of the Federal Republic of Nigeria, 1999 (Alteration) Bill, 2020 to alter the minimum educational qualification for aspirants into political office and National Icons, Symbols Legacy Agency Bill, 2020, a Bill for an Act to Amend the Armed Forces Act, Cap. A20, Laws of the Federation of Nigeria, 2004 to Foster Collaboration Between the Armed Forces and Other Security Agencies.

He was not lacking in motions either as he moved the motion to commemorate the World Teachers Day and celebration of Nigerian Teachers, where the Best Teacher in Nigeria 2019, Mrs. Agnes Elusakin of Oriwu College, Ikorodu was honoured by the Speaker of the House, Hon. Femi Gbajabiamila and members of the House; laid a petition before the House against the Accountant General of the Federation for his refusal to pay salaries and pension arrears of officers, who retired from the Federal Civil Service between 2012 and 2020.

The lawmaker also left indelible marks in the area of representation particularly that of constituency project with launching of the iCare Foundation project, a Food Bank idea conceptualised to cater for the aged, widows, needy and vulnerable; establishing a community radio in his Ikorodu constituency, the radio, IKD 106.1FM and securing employment and empowering many of his constituents.

-Orizu writes from Abuja

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

Olajide Olutuyi @50: Appraising His Transformative Leadership, Transition to Social Entrepreneurship

As Social Entrepreneur, and Co-founder of the Samuel Olutuyi Foundation, Olajide Olutuyi, marked his golden jubilee on March 27, 2024, Sunday Ehigiator x-rays his giant strides in the corporate world, transformative leadership sojourns, and selfless acts of philanthropy to the society

Only a few have been able to epitomise the spirit of transformative leadership and unwavering commitment to societal progress like Olajide Olutuyi.

From humble beginnings to becoming a beacon of hope and inspiration, Olutuyi’s journey is a testament to the power of resilience, vision, and a deep-seated desire to effect positive change.

Olutuyi’s metamorphosis into a social entrepreneur and development analyst is a tale of passion, purpose, and perseverance.

EARLY YEARS

Born into the family of High Chief Samuel Olagoke and Deaconess Celina Olubunmi Olutuyi from Irun-Akoko, Ondo State, Olutuyi’s early years were shaped by a rich tapestry of cultural heritage and familial values.

Despite the challenges of frequent relocations due to his father’s professional duties, Olutuyi’s upbringing instilled in him a profound appreciation for his roots and a sense of duty towards societal progress.

His educational journey traversed diverse landscapes, from elementary schools in Kaduna and Warri to secondary institutions in Delta State. It was during his teenage years that Olutuyi’s entrepreneurial spirit began to take root while working with his dad.

A STINT IN THE CORPORATE WORLD

After completing his education, including a Bachelor of Technology degree from the Federal University of Technology, Akure (FUTA), Olutuyi ventured into the family business, Top-Olax Nigeria Limited and Kay-Precious Nigeria Limited, where he honed his entrepreneurial skills and spearheaded ground-breaking initiatives for the company.

He then embarked on a career in Financial Accounting. His role as a Financial Accountant provided him with valuable insights into the intricacies of corporate finance and business management.

Yet, his ambitions transcend conventional accounting norms. This impelled him to pursue further education in the non-profit sector, acquiring a Certificate in Social Impact Leadership from the renowned HAAS School of Business at the University of California, Berkeley, USA.

In parallel with his career pursuits, Olutuyi emerged as a respected development analyst, contributing insightful perspectives on Nigeria’s socio-political landscape through his columns in prominent publications such as Business Day Nigeria and Financial Nigeria.

His thought-provoking analyses and pragmatic solutions have earned him accolades and recognition as a thought leader in the field of development analysis.

He is pursuing another Master’s degree in Nonprofit Administration from Louisiana State University.

A LIFE OF SERVICE

Despite his success in the corporate world, Olutuyi’s ambitions transcended mere profit-making. He recognized the immense potential for entrepreneurship to drive social change and economic development, particularly in underserved communities. Thus, he embarked on a journey of social entrepreneurship, leveraging his business acumen and resources to address pressing societal issues.

Driven by a deep-seated desire to make a tangible difference in the lives of others, he embarked on a journey of social advocacy and community development. His foray into politics in 2002 marked the beginning of a new chapter, where he sought to leverage his influence for grassroots empowerment and inclusive governance

Despite facing setbacks and challenges in that political adventure, Olutuyi remained undeterred in his pursuit of social change. His impactful endeavours, including volunteering, supporting non-profit organizations, and championing grassroots movements, underscored his unwavering commitment to uplifting marginalized communities and promoting sustainable development.

Olutuyi recognised the importance of community service early on in life; according to him “It was during

my NYSC where I embarked on a community service project that I first had the fulfilment of adding values or making an impact.”

The community development project is a program of the National Youth Service Corps that Olutuyi believes should be made mandatory and fully expanded. He opines that Nigeria needs selfless citizens more than ever.

On migrating to Canada Olutuyi aside from volunteering for a local Church in Toronto volunteered as a Bookkeeper for a community non-profit organization in Ajax, Ontario taking public transportation that takes him about 45 minutes each way.

Moving from there he transitioned into non-profit executive and board volunteering. He served as Secretary of the Yoruba Foundation Calgary from 2008 to 2012, Director and Treasurer for the Independent Living Resources Centre, Calgary (ILRCC) from 2012-2013 and Director and Treasurer of Calgary Quest School from 2012 to 2015 where he managed over $ 1 million in operational budget and over $10million in capital budget. He also served as the Director of the international service committee from 2020-2022 on the board of the Rotary Club of Calgary Heritage Park.

Olutuyi, speaking at a Rotary event in downtown Calgary, admitted that one of the greatest things he has learned in his living in the diaspora is how active community service and volunteering can build a society. In December 2021, the Global Goodwill Ambassadors Foundation recognised him for his outstanding humanitarian work.

CELEBRATING OLUTUYI @50

As Olutuyi celebrates his milestone 50th birthday, his legacy resonates far beyond the confines of boardrooms and political arenas. He stands as a shining example of visionary leadership, social responsibility, and unwavering commitment to the common good. His journey from entrepreneur to social advocacy and development analyst serves as a beacon of hope for future generations, inspiring them to harness their potential for the betterment of society.

As the co-founder of the Samuel Olutuyi Foundation, he spearheaded transformative initiatives aimed at uplifting individuals and

“As Olutuyi hits the golden age he firmly believes that in a world marked by transience, only a life defined by impact holds greater value and trumps all other pursuits, and he is determined to pursue that path.”

communities across Nigeria. Among these initiatives are the Water for Education Project (WAFEP), the Petty Traders Grant, the Womanpreneuer Grant and the Apprenticeship Grant amongst others, each designed to address specific socio-economic challenges and empower marginalized groups.

And in 2023 the Civic Engagement Essay Competition for Secondary schools was introduced. His works with the foundation have earned him names like philanthropist by admirers and by those whose lives have been impacted by the organisation he leads.

However, Olutuyi does not consider himself anything like that. In his words, “I am not even close to anything like a philanthropist”. Olutuyi identifies as a social entrepreneur, persistently seeking solutions to address pressing social issues that will reshape the fabric of his local communities.

With his network, he has been able to secure collaboration from the Rotary Clubs of Calgary on some of the Foundation’s projects and some other private organisations. He believes with more collaboration more can be done.

As Olutuyi continues to evolve in his role as a social entrepreneur and development analyst, his legacy resonates far beyond the realms of business and finance. He stands as a beacon of hope and inspiration for aspiring entrepreneurs and social advocates, demonstrating the transformative power of visionary leadership and unwavering commitment to societal progress.

THE WAFEP

The Water for Education Project (WAFEP) stands as a flagship initiative of the Samuel Olutuyi Foundation, driven by Olutuyi’s vision to ensure access to clean water and enhance educational opportunities in underserved communities. Recognizing the critical link between water accessibility and educational attainment for the girl child, WAFEP seeks to provide sustainable water solutions to schools in rural areas, thereby improving sanitation, hygiene, and overall learning environments

Through strategic partnerships, WAFEP has successfully implemented water infrastructure projects in communities, particularly in South West Nigeria. These projects include the installation of borehole water systems, and sanitation facilities, ensuring safe and healthy water for the communities. By addressing the fundamental need for clean water, WAFEP enhances educational outcomes and promotes health and well-being within communities.

THE ‘WOMANPRENEUR’

In addition to WAFEP, the Samuel Olutuyi Foundation has provided support to small-scale traders and women entrepreneurs through the Petty Traders Grant and the Womanpreneur

Grant, respectively. Recognising the vital role of micro-enterprises in driving economic growth and poverty alleviation, these initiatives provide financial assistance and capacity-building support to aspiring entrepreneurs, particularly those from disadvantaged backgrounds.

The Petty Traders Grant offers inventory funding to very small-scale women traders whose inventory is not more than N100,000 enabling them to expand their businesses and improve their livelihoods. By providing capital and entrepreneurial skills, the grant empowers individuals to create sustainable sources of income and contribute to local economic development.

Similarly, the Womanpreneur Grant targets women entrepreneurs, who often face unique challenges in accessing financial resources and business opportunities. Through mentorship programs, networking events, and financial assistance, the grant equips women with the tools and resources needed to launch and grow successful businesses. By empowering women entrepreneurs, the initiative not only promotes gender equality but also fosters economic empowerment and social inclusion

Overall, Olajide Olutuyi’s initiatives through the Samuel Olutuyi Foundation exemplify his dedication to creating positive change and uplifting communities. Through innovative solutions and strategic partnerships, these initiatives address pressing socio-economic challenges and empower individuals to realise their full potential.

As Olutuyi continues to expand the reach and impact of these programs, his legacy of leadership and service continues to inspire others to make a difference in the world.

A CALL ON NOA, OTHER

As Olutuyi commemorates his birthday, he expresses a desire for the National Orientation Agency and other relevant organizations to lead efforts in promoting the importance of volunteering among younger Nigerians. He believes that volunteering not only benefits communities but also enhances personal growth by expanding networks and boosting career prospects.

THE VISION

Regarding the future of the Samuel Olutuyi Foundation, Olutuyi envisions the establishment of a social enterprise akin to a thrift store. Here, individuals can contribute their gently used items for resale, with the foundation overseeing the sales process.

The proceeds generated would then be reinvested into local communities. This innovative approach fosters job creation and facilitates access to quality, affordable goods for those with limited income. Furthermore, the profits derived from this venture would be channelled back into community development initiatives.

As Olutuyi hits the golden age he firmly believes that in a world marked by transience, only a life defined by impact holds greater value and trumps all other pursuits, and he is determined to pursue that path.

Two of The WAFEP Projects initiated and inaugurated by the Samuel Olutuyi Foundation

THISDAY AFRINVEST 40 INDEX

Thisday Afrinvest Index up 0.8%

Thisday Afrinvest 40 index gained 0.8% to print at MTNN (+0.9%), GTCO (+1.0%), and ZENITH 23.3% of the index.

Bulls Hold Sway Ahead of Easter Break ASI up 0.3%

Yesterday, gains in MTNN (+0.9%), TRANSCORP (+4.4%), and ACCESSCORP (+2.1%) propelled the NGX-ASI up by 0.3% to 104,562.06 points, as mar-

YTD return increased to 39.8% (previously: 39.5%)

and value traded increased by 34.7% and 36.6% to

5AccessHoldingsPLC24.502.08%5.2%5.8%5.8%20.5%1.5%3.2x0.5x8.5%31.0% 6UnitedBankforAfricaPLC28.000.72%5.3%9.2%9.2%39.5%3.9%1.9x0.6x5.0%51.6% 7DangoteCementPLC686.700.00%8.2%114.7%114.7%32.2%13.5%26.1x6.9x4.9%3.8% 8SEPLATEnergyPLC3,370.000.00%4.7%45.9%45.9%4.7%2.4%16.7x0.8x3.4%6.0% 9LafargeAfricaPLC38.052.84%3.6%20.8%20.8%12.0%8.0%12.0x1.4x5.0%8.4% 10EcobankTransnationalInc24.501.66%2.8%17.2%17.2%26.9%1.2%1.3x0.4x2.1%75.7% 11TransnationalCorpofNigeria14.204.41%3.3%64.0%64.0%11.9%3.0%39.2x4.6x0.4%2.6% 12FBNHoldingsPlc35.551.28%7.1%51.0%282.3%23.0%2.2%4.2x0.8x1.4%24.1% 13FidelityBankPLC10.000.50%1.7%-7.8%-7.8%25.1%1.8%3.3x0.7x5.0%30.6% 14NestleNigeriaPLC900.100.01%1.4%-18.2%-18.2%-14.4%-10.1% 15StanbicIBTCHoldingsPLC56.00-3.45%1.4%-19.6%-19.6%31.5%3.4%5.3x1.6x6.3%19.0% 16BUAFoodsPLC379.900.00%3.0%96.4%96.4%44.9%16.9%60.1x26.2x1.3%1.7% 17OkomuOilPalmPLC243.000.00%1.4%-6.5%-6.5%57.6%27.9%11.0x5.9x1.9%9.1% 18DangoteSugarRefineryPLC52.00-2.07%1.0%-8.8%-8.8%-58.9%-13.5%7.9x2.9%-11.7% 19NigerianBreweriesPLC29.354.63%0.8%-18.5%-18.5%-87.5%-15.0%4.8x3.5%-43.6% 20AXAMansardInsurancePLC5.700.00%1.0%3.6%3.6%40.8%11.2%4.1x1.4x2.1%24.5% 21NASCONAlliedIndustriesPLC52.550.00%0.8%-2.2%-2.2%57.3%19.2%5.0x5.1x2.0%19.9% 22FCMBGroupPlc8.50-3.95%0.9%14.9%14.9%25.5%2.5%1.8x0.4x2.8%55.5% 23FlourMillsofNigeriaPLC39.000.00%0.9%18.0%18.0%9.6%1.6%8.5x0.8x5.8%11.8% 24InternationalBreweriesPLC4.45-3.68%0.7%-7.3%-7.3%-37.7%-9.3%1.0x-39.6% 25GereguPowerPLC1,000.000.00%1.8%150.6%150.6%155.8x55.4x0.9%0.6% 26SterlingFinancialHoldingsCo5.400.00%0.9%25.9%25.9%2.8% 27PZCussonsNigeriaPLC38.008.57%0.9%42.3%42.3%-43.2%-43.1% 28UnitedCapitalPLC23.200.43%0.6%0.9%0.9%22.9%1.6%12.2x2.3x7.7%8.2% 29ChapelHillDenhamManagement114.000.00%0.6%0.0%0.0%13.9% 30TranscorpHotelsPlc97.900.00%0.8%39.5%39.5%6.9%3.7%160.9x15.0x0.6% 31PrescoPLC231.500.00%0.5%19.9%19.9%67.6%20.0%7.6x4.1x4.2%13.1% 32MultiverseMiningandExplorat15.300.00%0.4%-17.6%-17.6%41.4%6.8%153.2x4.0x0.4%0.7% 33GuinnessNigeriaPLC49.600.00%0.3%-24.8%-24.8%-42.1%-11.2%2.1x-25.2%

34BUACementPlc143.200.00%0.5%47.6%47.6%17.4%6.6%69.9x12.6x1.4%1.4%

Across our coverage sectors, performance was Oil & Gas Insurance and Banking indi-

35TotalEnergiesMarketingNigeri346.500.00%0.3%-10.0%-10.0%24.3%3.2%9.1x2.1x7.6%11.0%

36OandoPLC11.60-3.33%0.2%10.5%10.5%3.2%3.8x26.2%

37WemaBankPLC8.506.25%0.3%51.8%51.8%22.7%1.2%4.7x0.9x3.7%21.4%

38JuliusBergerNigeriaPLC66.009.73%0.3%53.5%53.5%15.6%2.2%8.3x1.0x3.8%12.1%

39UnileverNigeriaPLC16.750.00%0.1%13.2%13.2%12.0%6.9%9.6x1.3x1.5%10.4% 40NotoreChemicalIndustriesLtd62.500.00%0.0%0.0%0.0%-309.2%-40.0%15.5x-125.6%

the AFR-ICT and Industrial Goods indices improved by 0.3% and 0.1% accordingly, buoyed by buy interest in MTNN (+0.9%), WAPCO (+2.8%), and (+4.6%) and PZ (+8.6%) pushed the Consumer Goods index up 10bps.

Outlook

breadth, improved to 0.34x from 0.04x in the pre-

TickerPricePriceChg%

The Alternative Bank,TKTech Africa Collaborate on $500m Digital Sukuk

Nume Ekeghe

The Alternative Bank and TK Tech Africa are set to transform the landscape of financial technology and non-interest banking in Nigeria through their innovative $500 million Digital Sukuk initiative.

This partnership is pioneering the use of blockchain technology for the issuance, trading, and settlement of Sukuk bonds, championing ethical and Sharia-compliant investments in the country.

The Group Head of Structured Trade & Commodities Finance at The Alternative Bank, Gbenga Awe in a statement emphasised the

bank’s foremost position as a bank-tech, leveraging its digital innovations and competencies in the financial services sector.

Awe underscored the bank’s efforts to create wealth by developing digital products for everyone interested in commodities and precious metals. According to him, the initiative will allow anyone to invest in the commodities market through tokenized alternative assets, providing unprecedented flexibility and accessibility.

Speaking on the transformative nature of this collaboration, Founder and CEO of TK Tech Africa, Oludamola

Akindolire, said; “We are setting a new benchmark for financial innovation in Africa, offering an ethical investment avenue through the synergy of Islamic finance and blockchain technology.”

He highlighted the initiative’s target demographic as urban middle- to high-income Nigerians aged 25 to 60, highlighting its role in fostering inclusive economic growth.

Managing Director and CEO of the NASD OTC Securities Exchange, Eguarekhide Longe, expressed optimism about the initiative’s potential, stressing the importance of raising awareness for its success.

Zero Waste: APM Terminals Apapa Recycles Used Lubricants, Discarded PPEs

APM Terminals Apapa has begun the recycling of used lubricants and discarded Personal Protective Equipment (PPE) such as boilersuits and reflective jackets. This is in partnership with Kevron Consulting, certified by the relevant authority in Lagos State.

The terminal made this known on Wednesday, ahead of the International Day of Zero Waste celebrations on March 30.

Health and Safety Manager, Felix Ugwuagbo said, “We understand the need to monitor the disposal of our used lubricants after their use. We do not want to contribute to environmental degradation and have our used lubes end up in the waterways, clogging the drains or further

used for transportation contributing to air pollution.

“We are partnering with Kevron Consulting in this regard. Now our used lubricants are safely evacuated from the terminal, treated and then recycled into other purposes or in some cases, safely disposed of.

“Same applies to our discarded PPEs. We encourage our employees to hand over their torn/unusable reflective jackets, boilersuits etc in exchange for new ones. These discarded PPE are then handed over to a partner organisation that washes, treats and recycles them into rags which are used by for cleaning purposes within our terminal.”

Terminal Manager, Steen Knudsen, said, “The ESG

Strategy of the AP-Moller Maersk Group, of which we are a part, is to achieve net zero greenhouse gas emissions by 2040. This means reducing our environmental footprint on solid waste which contribute to these gas emissions.

“As a business, we will continue to identify areas of continuous improvement and opportunities, to promote sustainable patterns in our consumption and operations by recycling our waste. It is important to partner with companies with different areas of expertise to complement our efforts to ensure that together, we reduce the environmental footprint of our businesses.”

Cornerstone Insurance Applauds IPE’s Advanced Selling Program

In a remarkable convergence of industry leaders, the International Institute of Productivity and Entrepreneurship (IIPE) orchestrates a transformative experience at the Cornerstone Insurance Management Retreat. Amidst the prestigious gathering at the Lagos Travel Inn, top directors and senior managers of Cornerstone Insurance PLC, alongside IIPE representatives, bask in the illuminating insights of the Advanced Selling Program.

A pivotal moment arrives as the spotlight turns to the captivating discourse on the last day of retreat on Evolutionary Leadership as a Sales Tool. The audience, enraptured by the facilitator’s profound elucidation, witnesses a paradigm shift in understanding the indispensable

role of evolutionary leadership in navigating the intricacies of modern sales dynamics.

In a brief exchange with the press, Executive DirectorAfrica Strategic Studies, IIPE, Paul Jide Peters reiterated the institute’s mission: “Enabling Global Prosperity through High Productivity”

He said further, “At the core of our mission lies a simple yet powerful belief: High Productivity is the key to unlocking global prosperity. We envision a world where every individual, regardless of background or circumstances, has the opportunity to thrive and contribute m eaningfully to society at large.”

The Managing Director of

Cornerstone, Mr Steven Alangbo, emphasised emotional connection in salesmanship during the interactive session.

The session pulsated with fervent discussions, thoughtprovoking inquiries, and a deluge of insightful contributions. The palpable enthusiasm hinted at a promising trajectory for IIPE and its esteemed cohort of professionals and experts, signalling their unwavering resolve to make a revolutionary impact and emerge as the pre-eminent productivity learning institution on the African continent. The Institute is one of the federal government approved and accredited institutions of higher learning with an innovative learning hub in Texas,USA.

Cardiologist Sheds Light on Making Healthier Choices in Cooking Oil

Renowned cardiologist, Dr Monisola Adanijo has emphasized the significance of checking labels when purchasing cooking oil.

“Consumers should pay attention to the composition of fats in cooking oils. This can have a significant impact on heart health.” Advised Adanijo

According to her, one aspect consumers should consider is the ratio of polyunsaturated fatty acids (PUFAs) to saturated fatty acids. PUFAs, such as omega-3 and omega-6 fatty acids, are beneficial for heart

health. Consumers should look for oils with higher levels of PUFAs.

She notes that consumers should be wary of the saturated fat content listed on cooking oil labels, as excessive consumption of saturated fats can increase cholesterol levels and the risk of heart disease.

“Choosing oils with lower levels of saturated fats is advisable,” warns Dr. Adanijo

“On a beautiful Saturday morning, I find myself strolling down the aisle of the grocery store in my neighborhood and as I approach the section dedicated

L-R: Chief Technology Officer of Coronation Registrars Limited, Mr. Bolaji Odumos; Stockbroker, City Code, Mr.Fakrogha Charles; Coronation Merchant Bank’s Chief Economist, Chinwe Egwim; Acting Chief Executive Officer, Nigeria Exchange Group, Mr.Jude Chiemeka, at the 2024 Global Money Week Event in Lagos... recently

to cooking oils, I am greeted by an array of options. The shelves are lined with bottles of various shapes and sizes, each boasting its enticing combination of benefits.

“As I approached the end of the aisle, my gaze fell upon the label of Golden Terra Soya Oil—a standout option for health-conscious consumers. With an impressive content of 5 times more polyunsaturated fatty acids (PUFAs) compared to many other cooking oils, the brand presents itself as a favourite for those prioritizing heart health.

Money Market Indicators (in Percentage)

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

Africa Prudential Shareholders Approve N0.45 Dividend

Kayode

Tokede

The shareholders of Africa Prudential Plc, yesterday approved the board of directors N0.45 per ordinary share of 50 kobo each payout dividend for 2023 financial year at its 11th Annual General Meeting (AGM).

The meeting was conducted virtually in accordance with Section 11 of the Business Facilitation Act, which permits public companies to hold AGMs electronically. During the AGM, shareholders of the a leading share registration firm listed on the Nigerian Exchange Limited (NGX) approved the recommendation of the Board of Directors for a full-year dividend of N0.45 kobo per share, translating into N900 million shareholders return on investment. Addressing stakeholders during

the meeting, the Chairman of Africa Prudential, Chief (Mrs) Eniola Fadayomi, stated, “The Company remains focused on continuous transformation.

“Our total assets grew to N22.9 billion, representing a 19 per cent increase over the previous year’s figure of N19.2 billion. This growth is a testament to the priority we place on meeting shareholders’ expectations.”

She further added, “In line with our transformation journey, the launch of our new investment solution product, INVEARN, a one-stop shop for your capital market needs, highlights how we continue to find new ways to deliver value that creates a positive impact within the capital market space.”

On outlook for 2024, she said, “Africa Prudential is historically a company that has gained

brand recognition in the share registration, investors relations management and digital solutions services with close to five decades of exceptional experience in the Nigerian capital market. Our services are technology-driven and highly customer centric.

“The company is committed on leveraging the use of technology solutions to deepen the company’s customer service experience in year 2024, in the expectations

of better returns on investment to the shareholders of the company.”

The Managing Director/ Chief Executive Officer of Africa Prudential, Catherine Nwosu, spoke on the company’s achievements, said, “We have made good progress with our ambition by actively pursuing strategic partnerships and collaborations to expand our market reach and offerings.

PRICES FOR SECURITIES TRADED ASOF MARCH /28/24

Nigeria Experiences Another Nationwide Blackout as Power Grid Collapses Again

Michael Olugbode in Abuja

and Peter Uzoho in Lagos

Nigeria's comatose power grid has recorded another collapse, plunging homes and business in the country into blackout. THISDAY gathered that the grid collapse occurred yesterday at 16.28 hours.

The collapse happened few hours after the Minister of Power, Mr. Adebayo Adelabu visited Egbin Power Plant in Lagos, the largest thermal generating plant in the country with 1,300 megawatts installed capacity.

Due to gas shortage, Egbin's generation has plunged to a meagre 400mw, far below its 1000mw current deliverable capacity and 1,300mw installed capacity.

The minister as usual, recounted the challenges of the sector, which included gas supply shortage and huge federal government debts to power plants, which runs into trillions of naira.

But alerting electricity customers under its network, the Eko Electricity Distribution Company (EKEDC) in a power update sent to the subscribers, said it was working with its partners to restore supply.

EKEDC said: "Dear valued customer, kindly be informed there was a system collapse at 16.28 hours, which has resulted in a loss of power across our network.

"We are currently working with our partners as we hope for speedy restoration of the grid. We will keep you updated as soon as power supply is restored. Kindly bear with us".

The Transmission Company of Nigeria (TCN), the wholly government-owned company that manages the grid, confirmed the system collapse, in a short message to THISDAY, last night.

The Public Affairs Manager of TCN, Ndidi Mbah, said: "Grid collapsed 16.28pm. Presently, the southern part has been fully

restored. The eastern part has been partially restored, and the northern part has also been partially restored. However, restoration is still ongoing and will be completed within the hour."

She was, however, silent on the cause of the incident and the extent of impact in terms of numbers.

Nigeria, with over 220 million population, struggles to generate, transmit and distribute 4000mw to the entire population despite series of reforms and capital injections into the sector.

Meanwhile, the Economic Community of West African States (ECOWAS) has decried the paucity of electricity in rural West African communities, stating that it stands at paltry 10 per cent as of 2023.

The regional bloc said this was

notwithstanding the general increase in electricity from 45 per cent in 2019 to an average of 53 per cent in 2023 in the sub-region.

ECOWAS Commissioner of Infrastructure, Energy & Digitalisation, Mr Sediko Douka, made the disclosure yesterday at the weekly press conference of the regional bloc in Abuja.

He said: “The energy sector, which is one of ECOWAS's main areas of action, has an installed production capacity of 25,421 GW, distributed as follows: 77 per cent thermal, 22 per cent hydro, 1 per cent solar/wind.

“The rate of access to electricity has increased from 45 per cent in 2019 to an average of 53 per cent in 2023. Despite this increase, there were significant disparities as the

electricity access rate in rural areas is standing at only 10 per cent,” he said.

He lamented that the electric sector also faced a low level of intra-regional electricity exchanges which he put at 9 per cent.

The ECOWAS commissioner said electricity prices in the West African region remain very high (0.24 USD = 150 FCFA/kWh), negatively impacting economic development, especially industrial development.

He said to address these challenges: “ECOWAS set up specialised agencies in the field of energy, namely, the West African Power Pool (WAPP) in Cotonou, Benin, the Regional Electricity Regulatory Authority (ERERA) in Accra, Ghana, the Centre for

Renewable Energy and Energy Efficiency (ECREEE) in Praia, Cape Verde, and the West African Gas Pipeline Authority (WAGPA) in Abuja, Nigeria.”

Douka also disclosed that other measures taken by ECOWAS to address the challenges include the implementation of the WAPP master plan for regional power generation and transmission facilities for 20192033: 75 regional projects worth $$36 billion to build 23,000 km of power interconnection lines and generate 16,000 MW.

Other interventions, he said were the launching and operationalisation of the regional electricity market in 2018, the promotion of renewable energies, and electricity access programmes for both on-grid and off-grid networks.

Onyebuchi Ezigbo in Abuja

The federal government has approved the disbursement of N25 billion from the Basic Healthcare Provision Fund to enhance delivery of health services to the vulnerable population.

The money which is meant to provide healthcare services at the grassroots level as well health insurance for the vulnerable segment of the society will be channeled through the National Primary Healthcare Development Agency (NPHCDA) and National Health Insurance Authority (NHIA).

the Ministry of Health.

"Secondly, we approved the disbursement of N25 billion through the PHCPF channels to the states of the federation through the gateways - the NPHCDA and NHIA gateways.

"This is to provide them directly with facility financing as well as resources to be able to satisfy their own workforce and for the NHIA to be able to provide financial protection for vulnerable population".

Speaking to journalists shortly after inaugurating seven technical working committees, the Coordinating Minister of Health and Social Welfare, Prof Muhammad Ali Pate, said: "We met with health sector agencies, state commissioners of health and development partners and we took a few decisions that are important in advancing our aspirations to expand the primary health care and social outcomes. One them is to inaugurate seven technical working groups on various thematic areas that affect what we do in

While giving more insights on the purpose of the fund, the Executive Secretary of the Primary Healthcare Development Agency (NPHCDA), Dr. Muyi Aina, said that part of the N25.8 billion will be subsequently disbursed to the states so that they can use it to provide facilities at the primary health care centres.

According to him, the fund will be disbursed through centralized financing mechanism and will focus on areas of special needs to provide health services.

He also said that the funds will be disbursed to the National Health Insurance Agency for the protection of vulnerable population. Basic Healthcare Fund:

Eko Disco: Momoh Remains Acting CEO, Management’s Change Stands, Says Otubu

Sanda accepts removal, pledges assistance to new boss

Peter Uzoho

In an attempt to douse tension amongst staff following a recent change of management at the Eko Electricity Distribution Company (EKEDC), the company's board, yesterday, stated that its position on the leadership change remained.

Chairman of Eko Disco, Mr. Dere Otubu, stated this in a message addressed to the Acting Chief Executive Officer of EKEDC, Mrs Rekhiat Momoh, and members of staff of the utility firm.

The chairman's message came just as the ousted Chief Executive Officer of Eko Disco, Dr Tinuade Sanda, has accepted her removal and expressed readiness to support the new CEO.

Of recent, Eko Disco has been grappling with internal crisis following the boardroom politics and power play rocking the company, and which eventually led to the termination of appointment of Sanda as the CEO alongside some other senior officers of the company.

In the message to the CEO and members of staff, Otubu said it

had become necessary to send out the message in view of the misinformation being disseminated to the public.

He said nothing has changed since the last message he sent to the staff and the public, adding that no staff of WPG has been returned to Eko Disco and that the Nigerian Electricity Regulatory Commission (NERC) has not nullified any of the actions taken by the Board of Eko Disco.

He said all staff in acting roles following the withdrawal of WPG secondees including the Acting CEO, Momoh were to continue doing their work.

"Following my earlier message to you in respect of the above, it has become necessary to send out this message in view of the misinformation being disseminated to the public.

"Kindly note that nothing has changed since the last message to you. No staff of WPG has been returned to Eko Disco. NERC has not nullified any of the actions taken by the Board of Eko Disco.

"All staff in acting roles following the withdrawal of WPG secondees

including our Acting CEO Mrs Rekhiat Momoh are to continue doing their work."

For greater clarity, Otubu said the reason for the withdrawal of the WPG seconded staff was to allow for the process of employment of any qualified staff directly in Eko Disco.

He explained that the decision of the board was that all staff members of Eko Disco would have the same conditions of service and be under the same payroll structure.

"There'll therefore be the harmonisation of the salary structure so that there will be no further earnings dichotomy. This process is still ongoing and you will be informed when it is completed.

"Kindly continue to do your work without any concern or hindrance as what is being planted in the papers is only intended to cause mischief.

"The Board of Directors of Eko Disco remains the highest organ of governance of the Disco. Therefore, only statements from the Chairman acting on behalf of the Board should be countenanced.

"We have great confidence in all of you to perform your roles effectively and take the company to greater heights. We, therefore, urge everyone to keep doing their duties diligently," the chairman added.

In another statement, the Otubu-led Eko Disco disclaimed what it described as 'Unapproved Publication' by the the Director, Chairman Legal & Regulatory Committee of EKEDC, Mr. Babor Egeregor.

Egeregor had in a recent statement rebuffed the termination of Sanda's appointment as the company's CEO.

He accused Otubu of launching a vengeful revenge against Sanda for escalating the alleged fraud and issuing queries against one of his protégés, whom he has desperately swore to protect by all means.

Egeregor, however, insisted that Sanda remained the CEO of Eko Disco.

But in response to the statement, the board in a statement dated March 13, 2024, said it did not and had not authorised Egeregor to issue any statement or press release on its behalf.

Former

ONE YEAR IN OFFICE...

Catholic Bishops: Nigerians Celebrating Easter in Atmosphere of Uncertainty

Barau preaches unity, tolerance, perseverance NSCDC Deploys 35,000 personnel

Michael Olugbode, Onyebuchi

Ezigbo, Sunday Aborisade in Abuja Catholic bishops in Nigeria, yesterday, lamented that a majority of Nigerians would be celebrating this year’s easterin an atmosphere beclouded by uncertainty, tension, and pessimism.

They, therefore, urged every Nigerian to remain hopeful of better days ahead, away from the present predicament.

Also, the Deputy President of the Senate, Senator Jibrin Barau, has rejoiced with Christians in the country as they celebrate Easter, preaching unity, tolerance and perseverance

This was as no fewer than 35,000 personnel had been deployed by Commandant General of the Nigeria Security and Civil Defence Corps (NSCDC), Dr. Ahmed Audi, to protect lives and property including critical national assets and infrastructure

(CNAI) during the Easter celebration.

In their Easter message, the bishops said just as Christians shared a strong belief that Jesus Christ would rise after crucifixion to liberate them, God would not allow injustice, oppression and death to triumph for ever in the country.

The clergymen said in seeking to foster national unity and cohesion, all must choose the pathway to peace by shunning injustice, discrimination, bigotry and fanaticism, which cause discord, disaffection and disunity.

In the Easter message by Most Rev. Lucius Iwejuru Ugorji, Archbishop of Owerri and President of the Catholic Bishops’ Conference of Nigeria (CBCN), the bishops lamented that Nigerians would be celebrating this year's Easter in an atmosphere of uncertainty, tension, and pessimism.

Apart from the economic difficulties that have made life almost unbearable with the price

Nigeria’s Kemi Omotosho Appointed MultiChoice Southern Africa Regional Director

MultiChoice Group has appointed Nigeria’s Kemi Omotosho as the Regional Director of its Southern Africa operations. The promotion was part of the recent strategic management changes made by the company.

Commenting on the promotion, the Chief Executive Officer of West Africa, MultiChoice, Mr. John Ugbe, said it reflects the equal career growth opportunity for people across different markets in the MultiChoice Group.

“MultiChoice operates an inclusive workplace that provides equal opportunities to staff irrespective of their gender and nationality, as evidenced by the recent appointments within the group.

“Omotosho rose through the ranks in the West Africa region of the business, and her appointment attests to active diversity within the group,” he said.

Omotosho started at MultiChoice Nigeria in 2014 as the Head of Retention, where she was responsible for delivering business objectives on

subscriber growth and delivering strategies to optimize customer value management. She was promoted to Executive Head of Customer Value Management in 2018.

In 2019, Omotosho rose to the post of Group Executive Head of Customer Value Management (CVM), where she led the strategic planning, budgets, decision-making, resource allocation, and operational execution of all CVM initiatives in Africa, the position she held till her new appointment.

Her proficiency in customer value management, according to a statement from the organisation, propelled her ascent within MultiChoice and is evident in her significant contributions to strategic goals in subscriber growth and retention.

As part of her contribution to the profitability of the business, Omotosho, it said, played a pivotal role in the launch of the group’s popular “Step Up Campaign” and also led the FIFA 2023 World Cup CVM plans.

of basic commodities going beyond the reach of the poor and vulnerable, the bishops said insecurity and kidnapping had heightened across the country, especially in the Northern part of the country.

On his part, Barau, in a statement by his Special Adviser on Media and Publicity, Ismail Mudashir, congratulated Christians for the successful completion of the Lenten season, a period of 40 days of fasting and prayer that culminated in the Easter celebration.

He enjoined Christians to imbibe the teachings of Jesus Christ and the

lessons of Easter which emphasise peace, love, perseverance and forgiveness.

He also called on all Nigerians to reflect on the state of the nation and rededicate themselves in prayers and sacrifice even as he said the country’s challenges were surmountable if the people unite, love one another and pray for the country and its leadership to move the nation forward.

Meanwhile, Audi has directed zonal commanders and state commandants to ensure mass deployment of personnel across

all the zonal, state commands and Federal Capital Territory as part of measures to ensure a hitch-free Easter celebration.

The statement read that within the period of the celebration, the Corps was to protect CNAI as well as the security of lives and safety of property in line with its mandate whether private or public in synergy with other security agencies.

It said the CG has tasked operatives in the Anti-vandal Unit, Special Intelligence Squad (CG's SIS), Transport and Mining Marshals, Special Female Squad, Special

Force, Special Weapon and Tactics (SWAT), Directorate of Intelligence and Investigation (DII), Crack Squad and Rapid Response Squad (RRS) amongst others to ensure round the clock surveillance as contained in the Operational Order.

While the deployment was to yield the desired result of maximum security through overt and covert operations, the CG reiterated that oil installations, Railway tracks, power and telecommunications, schools as well as recreational facilities should be adequately protected through surveillance.

Alleged Fraud: FCT Court Discharges, Acquits Adoke in OPL 245 Trial

Davidson Iriekpen

Justice Abubakar Kutigi of the Federal Capital Territory (FCT) High Court yesterday dismissed the charges of fraud, bribery and conspiracy filed against a former Attorney-General of the Federation (AGF) and Minister of Justice, Mohammed Bello Adoke, by the Economic and Financial Crimes Commission (EFCC).

The court reprimanded the EFCC for filing “frivolous” charges against the AGF.

At the court session yesterday, Justice Kutigi upheld the no-case submission filed by Adoke and s the charges of fraud, bribery and conspiracy against the former minister on the grounds that the EFCC failed to adduce credible evidence to prove the allegations contained in the charge.

Although the judge commended the

prosecution for conceding that it did not have sufficient evidence to oppose the no-case application by Adoke, he criticised the anti-graft agency for wasting four years prosecuting the case.

The judge added that the defendants ought not to have been charged in the first instance.

He said the allegation of illegal tax waivers granted to Shell and Eni was not corroborated by the Federal Inland Revenue Service (FIRS) or any authority.

Justice Kutigi said the EFCC failed to prove its charges of fraud, bribery and money laundering and ruled that the defendant has no case to answer, adding that the EFCC did not provide the necessary evidence to prove that the alleged N300 million bribe said to have been given to Adoke by Aliyu Abubakar.

The judge further noted that a

charge must not be filed just for the purpose of filing, adding that a frivolous charge does damage to the judicial system.

“It is argued that people can be arrested circumstantially,” the judge said.

“But every trial, more so, a criminal trial is a different ball game which must be undertaken with utmost care and attention to details, particularly, the quality of the evidence and availability of witnesses.

“It cannot be right or fair, that in this case, for example, nearly about 30 counts in the case involving forgery, the documents subject to these counts were not presented in evidence and material evidence led to situate the elements of forgery.

“If as stated by the lead investigator, PW10, that they demanded for about 37 documents from the CAC but only

a few were made available, this then begs the question, why a charge will be filed involving those documents the prosecution does not have access to?

“I must therefore make the point that the whole trial process whatever its inherent imperfection is entirely evidence driven, evidence which requires quality and probative value.

“This is so whether it is at this stage of situating a prima facie, as in the present situation, or at the point of determining guilt, or otherwise of the defendants.

“Without evidence in either of the two situations, it is self evident that such a case stands compromised ab initio.

“On the whole, the prosecution has failed to prove the essential elements of the offences for which the defendants were charged and accordingly, the no case submission has considerable merit and must be sustained.

First Lady Seeks Renewed Commitment in Nation's Fight against Tuberculosis

Deji Elumoye and Onyebuchi Ezigbo in Abuja

The First Lady, Senator Oluremi Tinubu, has advocated a renewed commitment, especially at the state level, in the fight against Tuberculosis in Nigeria.

Speaking yesterday during her investiture as the Global and National Stop TB Champion at the State House Abuja, sheapplauded the role of the Federal Ministry of Health and Social Welfare in raising awareness, which has

led to a significant improvement in case finding and treatment coverage of the disease.

“Let me acknowledge the efforts of all stakeholders at the national, regional, and global levels towards addressing the TB epidemic, following the adoption of the Political Declaration at the United Nations High-Level Meeting held in New York in September, 2023.

"Building on this commitment, President Bola Tinubu, is fully committed to the fight against tuberculosis and achieving the

goals set forth in the Political Declaration, alongside other national goals towards ensuring a healthier and more prosperous Nigeria.”

She also charged the wives of the governors, whom she decorated as TB Champions for their respective states to raise the awareness further to ensure that the disease, which is treatable was brought to the barest minimum.

“This designation is not just a title, but carries with it, the power to make a difference. I

kindly appeal that you all use your exalted positions to amplify awareness about Tuberculosis, to end the stigma associated with it, and to help patients in your respective States access the available treatments and support,” she said.

To further drive home her commitment to fight the scourge, the newly decorated Global and national Champion through the Renewed Hope Initiative (RHI) made a donation of N1 billion to the cause.

LUTH CMD INAUGURATES NEW MEDICAL WARDS TO MARK

L-R: Chairman, Medical Advisory Committee, LUTH, Dr Ayodeji Oluwole ; Chief Medical Director LUTH, Prof Wasiu Adeyemo; acting Director of Administration, Ms Omolola Fakeye; Consultant Paediatrician, Prof. Chris Bode and Deputy, CMAC, Dr.Tijani Bello during the commissioning of wards E4, E6, E8, K-Block and LUTH Laboratory to mark one year anniversary of Prof.Wasiu Adeyemo as the CMD of LUTH at ldi-Araba...recently ABIODUN AJALA

L-R: Discussant

Afenifere Suggests Ways to End Insecurity, Attacks on Security Personnel in the Country

Ndume hails Tinubu for honouring fallen soldiers

Sunday Aborisade in Abuja

A pan-Yoruba socio-cultural and political organisation, Afenifere, yesterday, expressed concerns on the fatal attacks on police officers barely 11 days after a similar fatal attack on military personnel in Delta State.

The apex Yoruba organisation has also lauded President Bola Tinubu on how he made the country to appreciate the sacrifice of the gallant soldiers, who were dastardly murdered.

In a press release by the organisation’s National Publicity

House C'ttee Queries Payment of N15bn to Remita without Contractual Agreement

Juliet Akoje in Abuja.

The House of Representatives Public Accounts Committee (PAC), has queried the payment of N15 billion to Remita, from the Office of the Accountant General for the Federation (OAGF).

The committee at the resumed investigative hearing, yesterday, accused the Central Bank of Nigeria (CBN) and Commercial Banks of complicity in the sharing of the N15 billion remittance.

Chairman of the Committee, Hon. Bamidele Salam, said the payment of N15 billion to Remita from the OAGF from 2016 to 2018 was questionable, adding that the OAGF paid the money without agreement or contract.

Remita is a payment solution that helps individuals and business make and receive payment, pay bills and manage their finances.

The lawmaker, while describing the payment as illegal, said, "The money is an illegal payment; there was no budget provision, so where did they source the money from?

"The CBN also shared in the money. The money is an illegal

payment. There was no budget provision, so, where did they source the money from?

"For instance, if someone pays N150,00 as a remitter, you will now pay 7.5 per cent Value-Added Tax (VAT) in addition to it. Ordinarily, that whole sum of VAT ought to go to the Federal Inland Revenue Service (FIRS), but what they are doing in this transaction is that they will now add that VAT to the N150,00"

"They will add it up, gather the money together, and take it to the CBN. System Spec and Remitta, both collecting revenue for the federal government, will share 50 percent, while the banks and the CBN will also have their share.

“By the time the Committee finished its reconciliation, I am very sure that hundreds of billions of naira will be the VAT component that was not remitted to FIRS. Each bank ought to take the money and directly remit it to FIRS.

"Now, Remita is saying that each of those collecting the money will come and calculate the money that has been shared into shreds.

Now, how do we track this kind of money?"

Secretary, Jare Ajayi, in Abuja, Afenifere congratulated Tinubu, elders in the North, security agencies and the governors of Kaduna and Zamfara States for the safe retrieval of Kuriga and Sokoto kidnapped students.

Afenifere spoke following the latest abductions in the North, the killing of 17 soldiers and six policemen in Delta State, including the missing of another six policemen in the same Delta State within two weeks.

The group, while stressing the need to take a deeper look at the modus operandi of security agencies, recalled the reports coming from the fields of operation including

the disclosures by army chiefs.

Afenifere noted that the army commander said soldiers could not immediately deter bandits, who attacked Benue communities on the eve of Christmas last year because the former were not accustomed to the topography as much as the bandits.

The Yoruba apex body added that the Chief of Defence Staff, General Chris Musa, Monday, March 25, 2024, told Reuters news agency, that the military found it difficult to be ahead of bandits because of the advantages the bandits usually have once they get into the forests with their victims.

This, it said, normally occurred

partly due to the misinformation given by the people and also because kidnappers knew the terrain more.

It said the fact that Nigeria's vast northern borders not adequately patrolled made the situation worse. Afenifere, therefore, called on the government to pay attention to issues implied in the disclosure by the Chief of Defence Staff. The group stressed the need to increase the numerical strength of security personnel so that they would be able to sufficiently and efficiently man all areas deserving to be manned, including the need to have necessary equipment.

Meanwhile, the Chief Whip of the Senate, Ali Ndume, has hailed

Tinubu for conferring posthumous awards on soldiers slain by yet-to-be identified assailants in Okuama, Delta State.

Ndume, who gave the commendation in a statement said, “Each man now belongs to the hallowed list of servicemen and women, who defended our country and protected their fellow Nigerians, not minding the risk to their own lives,” he said.

Hailing Tinubu for the gesture, he said for attending the funeral, the President has demonstrated that he is patriotic, and called on political leaders and Nigerians to put their differences aside and unite in honouring the fallen heroes.

137 Rescued Kaduna School Children Return Home To enjoy free education up to tertiary level

John Shiklam in Kaduna

The 137 rescued Kuriga schoolchildren, yesterday, returned to their homes respectively.

Kaduna State Governor, Senator Uba Sani, has also granted scholarship to all of them.

On March 7, bandits invaded the LEA Primary School and Government Secondary School, Kuriga, Chikun Local Government Area of Kaduna and abducted the children, including one of their teachers, who died in captivity.

On Sunday, March 24, the children were rescued by the military in collaboration with local authorities in the Dansadau forest in Zamfara State.

The children were handed over to the governor by the Nigerian Army

on March 25, at the Government House, Kaduna.

Addressing the children yesterday at the Government House, Kaduna, before their departure to Kuriga, Sani also announced a donation of N10million to the family of the teacher, Abubakar, who died in captivity.

He said the state government would sponsor the education of his children up to university level.

One of late teacher's children was among the abducted children.

Sani said after the children were handed over by the military, they under went on a three-day psychosocial therapy at the Kaduna Women and Children Shelter.

He also promised to support the education of the children up to tertiary level in his private capacity through

the Uba Sani Foundation.

"We saw the need to keep the children for this long because when they came on Sunday, it was observed that some of them needed some psychological support. So, we had to engage the service of psychologists and medical doctors to attend to them.

“Now, they have been given adequate psychosocial counseling and therapy. I am happy today that all the children are happy and they are in high spirit.

"You are going back home to meet with your parents and other families members, who are eager to see you. But, I want to assure you that all of you remain my children.

“As a result of this, I will be using Uba Sani Foundation, which has been in existence for the past 16 years to look after the education

of all the 137 of you.

“Our government will also be carrying out a lot of rehabilitation works both in the Kuriga community and the school. I have already given directive to that effect. This is because Kuriga community is one of the most peaceful communities in Kaduna State.

“Also, the Kaduna State Government has taken a collective decision to support the family of Malam Abubakar, the teacher who died in captivity with N10million.

"Because he has a very young family, the Kaduna State Government will be giving scholarship to his children until they finish secondary school and university,” the governor said, even as he promised to visit the children from time to time to monitor their progress.

Zenith Bank to Seek Shareholders’ Approval for Holding Company

Kayode Tokede

The shareholders of Zenith Bank Plc, Nigeria’s largest bank by profit will on April 26, 2024 at a CourtOrdered Meeting vote for or against the financial institution’s proposed corporate reorganisation which will result in a new non-operating Holding Company (HoldCo) to be called Zenith Bank Holding Company Plc.

The Scheme of Arrangement dated March 28, 2024 posted on the Nigerian Exchange Limited (NGX) seeks shareholders approval for a 31,396,493,787 ordinary shares of 50

kobo each in the issued and paid up share capital of the Bank held by shareholders are transferred to Zenith Bank Holding Company Plc in exchange for the allotment of 31,396,493,787 ordinary shares of 50 kobo each in the share capital of the Holdco to the shareholders in the same proportion to their shareholding in the Bank credited as fully paid without any further act or deed.

Other part of the Scheme of Arrangement revealed that, “In accordance with the Scheme, all of the shares held by nominees of the Bank inn Zenpay Limited,

together with all rights and liabilities attached to such shares, shall be transferred to Holdco. Zenpay Limited will be direct subsidiary of HoldCo, subject to CBN approval.

“In accordance with the Scheme and pursuant to the prospectus issued by the HoldCo, each existing GDR Hold receive, as consideration for each Existing GDR held, one new HoldCo GDR.

“The shares of the Bank be delisted from the official list of the Nigerian Exchange; the board of director of the Bank be and is hereby authorized to take all necessary actions to delist the shares of the

Bank from the official list of the Nigerian Exchange

“The Board of Directors of the Bank be and is hereby authorised to take all necessary actions to cancel and delist the Existing

that the Central Bank of Nigeria, the Securities and Exchange Commission, the Federal High Court or any other regulatory authority may thing fit to approve or impose; and

“the company secretary be and is hereby authorized to mark the consequential filings at the Corporate Affairs Commission.”

The court order appointed Mr Jim Ovia as the Chairman of the meeting or failing him, Mr. Ebenezer Onyeagwu, or failing both of them, any other director so appointed in their stead, to act as Chairman of the said meeting and has directed that a report of the Meeting be provided to the Court Voting at the Meeting will be by poll.

It added that, “the said Scheme will be subject to the subsequent sanction of the Court and delivery of a certified true copy of the order of the Court sanctioning the Scheme to the Corporate Affairs Commission.

at the occasion, Aare Oladotun Hassan (Esq); former House of Rep. Member, Hajiya Amina Aliyu; Commandant, Army War College Nigeria, Maj. Gen. Ishaya Maina; former Military Governor of Bauchi State, Maj. Gen. Chris Garuba (Rtd); and Author of the book, Prof. Benedicta Egbo, during the annual lecture and launch of a book 'Education and Sustainable Development in 21st Century Nigeria in Abuja ...recently ENOCK REUBEN

COURTESY VISIT...

Founder of TEXEM,

INEC: We Do Not Recognise Labour Party’s National Convention Held in Anambra State

Says frequent changes in venue marred requisite 21 days notice Party leadership denies existence of

Chuks Okocha, Adedayo Akinwale in Abuja and Adibe Emenyonu in Benin City

The Independent National Electoral Commission (INEC), yesterday, disassociated itself from the Labour Party (LP)’s National Convention held in Nnewi, Anambra State on Wednesday.

The commission claimed that the frequent changes in choice of venue affected the observation of the requisite 21 days notice to monitor the exercise.

This, nonetheless, the party leadership has dismissed the news of takeover of the party by the Board of Trustees, stating it had no information or knowledge of such body.

It described SOZ Ejiofor as a paid agent of the President of the Nigeria Labour Congress (NLC), Joe Ajaero.

THISDAY gathered that the party had notified INEC of its convention holding in Benin, and later to Umuahia before moving to Nnewi.

The commission was therefore unable to monitor the convention due to to frequent changes of the venue of the conventional.

A source at INEC claim that the commission was not involved in the convention hence, could not acknowledge it.

But the embattled national chairman of the party, Julius Abure, was re-elected as chairman of the party during the Nnewi convention.

Speaking to newsmen before the convention, the LP National Legal Adviser, Kehinde Edun, claimed the party’s executive had duly informed INEC about the change in venue and date.

But the commission faulted the claim due to frequent shift in venue and non adherence to the 21 days notice.

When asked of the actual venue of the convention, Edun said, “No, it is holding in Anambra. Nnewi to be precise, not Umuahia in Abia State again. In fact, Umuahia was not even the first venue we chose.

“Benin was the first choice before we changed to Umuahia and now Nnewi. So, we are at liberty to pick any venue of our choice. We only need to inform INEC about the change in venue and the time.”

Section 82(1) of the Electoral Act, 2022 states that political parties shall give INEC at least 21 days notice of convention, congress, conference

or meeting.

"This includes the convention or meeting convened for the purpose of ‘merger’ and electing members of its executive committees, and other governing bodies or nominating candidates," he said.

Meanwhile, the Abure-led party, in a statement by its National Publicity Secretary, Obiora Ifoh, has said, "Despite this huge success, It came to the leadership of the party as a huge surprise of a statement trending in the social media purportedly from one Comrade SOZ Ejiofor on behalf

of the Board of Trustees of the party claiming that he has taken over the leadership of the party.

"Amusing as that will sound, but with the greatest respect to the former leader of the party, we sympathise with the Comrade, who has since left the political scene more than a decade ago only to be energised, briefed and drafted into this unnecessary tussle by the disgruntled elements in the Nigerian Labour Congress, NLC.

"First, ever since Ejiofor stepped down as the first National chairman of the Labour Party over two decades

ago, he has neither attended any meeting or played any noticeable role as a member of the party.

“He is not even known in his ward and has not paid a single dime as membership dues which qualifies him as a member. It is surprising therefore that after he was ‘visited’ by some leaders of NLC, he suddenly woke up from his slumber.

"The point here is that the Labour Party is not aware of the existence of any Board of Trustees. Recall that NLC has continued to propose for the reconstitution of the BoT as well

as the convocation of the National Convention.

“Over 90 percent of persons being suggested to form membership of the proposed BoT have since left the party to join other political parties, some even contested various political positions on the platform of other political parties while some others featured prominently in the presidential campaigns of the other political parties even when Labour Party equally featured a candidate in the 2023 general election.

"This is what desperation in the

ranks of the NLC can cause. Why not let the man enjoy his retirement, why drag him into your mess. Let Comrade Ejiofor show evidence of one meeting he convened in the last one decade of his so-called BoT.

"Enough of all these political muscle flexing, Barrister Julius Abure has just been elected by the convention for the first time as the National Chairman of the Labour Party, we urge our detractors to please sheathe the sword and join us to salvage the nation," he explained.

Secondus, PDP Stakeholders Declare Support for Tinubu, Fubara Govts

Blessing Ibunge in Port Harcourt

A former National Chairman of the Peoples Democratic Party (PDP), Uche Secondus, and other prominent stakeholders of the party in Rivers State, have declared their support for President Bola Tinubu and Governor Siminalayi Fubara of the state, despite the political crisis ongoing in Rivers.

The stakeholders under the platform of the former Rivers State PDP Presidential Campaign Council, said they would obey the verdict of the Supreme Court that validated the positions of both the president and the governor.

Speaking at a press conference, yesterday, in Port Harcourt, the stakeholders led by their former Director General, Dr Abiye Sekibo, a former Minister of Transportation and Chairman, Senator Lee Maeba pledged support for Tinubu for the success and benefit of all Nigerians.

They said the president's efforts at strengthening the economy, promoting peace and harmony in the country was a good development.

Also, the stakeholders stated that they would support Fubara for the progress of the state, urging the governor and president to work together for the good of Rivers people.

"We have just risen from a meeting of the leadership of

the former Rivers State PDP Presidential Campaign Council and members of the PDP in Rivers State, who stood by the party after the National Convention of our party produced our Presidential Candidate, His Excellency Atiku Abubakar, Vice President, Federal Republic of Nigeria (1999-2007), Wazirin Adamawa.

"The elections are since over and the Supreme Court has ruled on the finality of that contest, pronounced His Excellency Senator Bola Tinubu, as the duly elected President of Nigeria. We stand by that verdict.

for the benefit of all Nigerians.

"As law-abiding citizens, and responsible leaders of our party in Rivers State, we recognise the elected president of our country and pledge our full support for the success of his administration

“In effect, we subscribe to the Renewed Hope Agenda and the President's efforts at strengthening our economy, promoting peace and harmony in our dear country, Nigeria.

"In the same vein, His Excellency, Sir Siminalayi Fubara was elected democratically as Governor of Rivers State, and also confirmed by the Supreme Court. As indigenes of Rivers State, we have no choice but to give our dear Governor our total loyalty and support for the progress of our State.

“In that same vein, we urge our governor and Mr President to work together for the good of Rivers people. With the elections over, now is the time for real governance for the progress of our nation."

Sanwo-Olu Seeks More Partnership Between NASS, FG, State Govts

Lagos State Governor, Mr. Babajide Sanwo-Olu, has called for concerted efforts on the part of all arms of government and the citizens to create a livable country that everyone would be proud of.

Sanwo-Olu spoke yesterday during a courtesy visit by the National Assembly Joint Committee on Works at the Lagos House, Marina.

The Joint Committee comprised members of the Senate and House of Representatives Committees on Works, led by Senator Barinada Mpigi and Hon. Akin Alabi, respectively.

Sanwo-Olu noted that there were challenges even with the huge opportunities in Lagos. He

stressed the need to build more infrastructure, maintain existing ones, and make funding available to keep them in proper shape to serve the people of Lagos better.

He said, "We want to thank President Bola Tinubu for his great vision in ensuring that different parts of the country have meaningful, impactful, and purposeful governance, and he is showing it in all of his various interventions. The latest being the Renewed Hope Infrastructure Fund that the government is trying to put together.

"Lagos deserves, desires, and requires some of the infrastructure that you have gone around to inspect because it is important for us to

build additional infrastructure, but more importantly, it is important to maintain and preserve existing infrastructure because these are assets that belong to all of us, the Nigerian people.

"For us as a government, we see ourselves as partners with the National Assembly and the federal government, because indeed, what we see at the end of the day is that our people get service. It is about the Nigerian conversation. It is about building our economy, nation, and country. "We are excited that those investments are being made, and we want to assure you that this investment will be put to good use, preserved, and maintained properly. We will ensure that it brings about economic development for our people."

Earlier, the leader of the team, Mpigi, said they were in Lagos as part of their oversight function to see firsthand some of the federal government’s major projects ongoing in Lagos and its environs, which included the 700-km Lagos-Calabar Coastal Road, repair works on the 3rd Mainland Bridge, and the Carter Bridge, amongst others. The Senate Committee Chairman on Works commended the efforts of Governor Sanwo-Olu's administration in complementing the Federal Government's infrastructural drive in the commercial nerve centre of the country.

UK, Dr Alim Abubakre (left), and CEO of CAC, Hussaini Ishaq Magaji SAN, during a courtesy visit to Mogaji in Abuja... recently

COURTESY VISIT TO EDUCATION MINISTER…

L-R: Chairman/CEO, Nigerians in Diaspora Commission (NiDCOM), Hon. Abike Dabiri-Erewa; Minister of Education, Prof.Tahir Mamman, and CEO, Chiplab, Mr. Ola Fadiran, during a courtesy visit to the minister in Abuja…recently

Hoodlums Attack Anambra LG Secretariat, Burn Police Station

Police arrest 22 armed robbers, declare 30 wanted

David-Chyddy Eleke in Awka and Ahmad Sorondinki in Kano

Hoodlums numbering about 30 yesterday morning burnt a part of Anaocha Local Government Area headquarters secretariat in Neni, Anambra State.

However, in Kano, operatives of state Police Command have arrested 22 armed robbers and declared 30 wanted in connection with the recent attack on the innocent indigents of Dorayi Quarters Gwale Local

Six Labour Party Assembly Members Defect to PDP in Enugu

Gideon Arinze in Enugu

Six members of the Labour Party (LP) in the Enugu State House of Assembly have defected to the Peoples Democratic Party (PDP).

The LP members made their defection known yesterday in Enugu via a letter read by the Speaker of the Assembly, Uche Ugwu, during plenary.

With the defection, the PDP now has the majority in the Assembly with a total of 17 members while the LP has six members.

Among the defectors were the Chief Whip, member representing

Igbo-Eze North constituency 1 in the Assembly, Hon Ejike Ezeh; and member representing Nsukka East.

Others were Pius Onyekachi Ezugwu, deputy chief whip, member representing Enugu South Rural; Princess Obiajulu Ugwu, member representing Oji River; Osita Eze, member representing Igbo-Etiti West; William Amuka, and member representing Enugu North Urban, Johnson Ani.

In the letters, the LP members cited the irreconcilable division and incessant crisis within the party at the national level and across all the state chapters as the reason for their deflection.

Benue University Performs IVF on 25 Women

GeorgeOkohinMakurdi

The Chief Medical Director (CMD), Benue State University Teaching Hospital (BSUTH), Makurdi, Dr. Stephen Hwande, has said the university will be performing Invitro fertilisation (IVF) on 25 women in the hospital.

Hwande, who disclosed this yesterday while briefing journalists on recent achievements at the hospital, said the hospital has recruited neurosurgeons, pediatric surgeons, plastic surgeons, dermatologists, doctors and nurses as well as other staffers.

The CMD revealed that one of the first things he did when he assumed office was to take stock of the manpower needs of the hospital.

He said the human resources to drive the hospital in key areas was not there.

The CMD said: “We needed to have neurosurgeons and now we have two neurosurgeons, we needed pediatric surgeons, plastic surgeons among others, and because we have got a pediatric surgeon, we successfully operated a child with tongue tumors on March 26, 2024.

In the past, such cases were referred to Jos or Abuja.

Sokoto to Reconstitute OGP Steering, Technical Committees

Onuminya Innocent in Sokoto

Plans have reached advance stage to reconstitute and re-inaugurate the Open Government Partnership (OGP), Steering and Technical Committee in line with the new administration in Sokoto State.

This is part of the major outcome of a two-day quarter two progress reviews of OGP State Action Plan (SAP), implementation in Sokoto State, organised by USAID State2State.

The OGP is a global partnership with over one hundred countries where Sokoto State, enlisted as one

of the two hundred sub-nationals in February 2022.

Sokoto State Commissioner for Justice, Mr. Nasiru Mohammed Binji, co-chair of OGP in the state assured that “Sokoto State will provide needed funds and support for the OGP State Action Plan, SAP, implementation and the secretariat.”

Non-State Actors Co-Chair, Dr. Auwal Ahmed Musa, presented the status, achievements of OGP implementation in Sokoto State since 2022, and plans for initiating the first SAP annual report for Sokoto State to the meeting.

Government area of Kano state.

The hoodlums, in Anambra, who were said to be heavily armed, also set ablaze the Neni Police Station in the same local

government area. It was gathered that the attack occurred between 3a.m. and 4a.m. yesterday. A source in the area said the hoodlums

were shouting: “DPO must go. He has overstayed. He has stayed in Anaocha for over 15 years.”

The source said the hoodlums

alleged that Anaocha Police Station had become another SARS station, where many despicable things were happening.

Redouble Efforts to Build Nigeria, Ex-Fed Lawmaker Urges Tinubu

Blessing Ibunge in Port Harcourt Former federal lawmaker from Rivers State, Dr. Dagogo Farah, has advised the federal government led by President Bola Tinubu to redouble its efforts in making Nigeria

better in order to ameliorate the sufferings of the people.

Farah, who gave the advice in his Easter message yesterday, said there is no gain denying the fact that the country is at its lowest ebb, stressing that: “As an incorrigible and infinite believer

that Nigeria can and will truly prosper”, the difficulties and challenges will not spell doom if the right policies are pursued.

He expressed that Jesus Christ, as the saviour of mankind, made the ultimate sacrifice for the good of mankind, and as

such, encourages all leaders in position of authority in the country, irrespective of religious creed, to emulate his invaluable lessons and sacrifices and be ready to inconvenience themselves to better the lives of the citizenry.

Pay Contractors to Complete Abandoned Projects in Abia, Otti Tells Niger Delta Ministry, NDDC

Emmanuel Ugwu-Nwogo in Umuahia

The high number of projects left uncompleted by the Niger Delta Development Commission (NDDC) across Abia State has continued to generate much

concerns in the state.

The state Governor, Alex Otti, expressed the general sentiment when he received the Minister of Niger Delta Affairs, Abubakar Momoh, and his team who came to Abia State for inspection of

projects by the ministry and NDDC.

He attributed the plethora of abandoned NDDC projects to the indebtedness of the commission to its contractors thereby compelling them to quit the project sites.

According to a statement issued by the Chief Press Secretary to the Governor, Kazie Uko, Otti appealed to the Niger Delta Minister to reverse the trend by assisting in ensuring that contractors are paid their outstanding debts.

Alleged Harassment: Court Orders IG, Lagos CP, Others to Maintain Status Quo

Wale Igbintade

Justice Abimbola Awogboro of the Federal High Court, Lagos, has ordered the Inspection-General of Police (IGP) and seven others to maintain status quo, suspend and hold all actions, complaints in abeyance, pending the hearing and determination of the suits filed against them by a property developer, Gbadebo Aina Odunusi.

Justice Awogboro also ordered that all the processes in the suit, including originating motion on notice dated February 22, 2024, particularly motion on notice for interlocutory injunction

dated March 18, 2024 and all subsequent processes, meant for second to fifth respondents, (that is, Commissioner Of Police, State Criminal Investigation, Lagos State Police Command; Deputy Commissioner Of Police State Criminal Investigation Department; ACP Kassim Saheed; Supol

Omololu Oni (O/C D18 Section) State Criminal Investigation, Lagos State be served on the Head of the Legal Department, Officer, Yetunde Cardoso, or any other officer in charge of Head of Legal Department of the Nigeria Police Force, State CID, Musiliu Smith Street, Panti-Yaba, Lagos State.

Hundreds of Inmates on Death Row Apply for Pardon in Kano

Ahmad Sorondinki in Kano

The Controller of Correctional Services, Kano State Command, Suleiman Inuwa, has presented a list of inmates who have formally applied for clemency to the Kano State Committee of Prerogative of Mercy.

The presentation took place during a visit by the Chairperson of the Committee, Hajiya Azumi Namadi Bebeji, to the Maximum Security Custodial Centre, Janguzu, Kano. A statement signed by the Public Relations Officer of the Service, Musbahu

Kofar Nassarawa, said the chairperson received the list of Inmates on Death Row (IDR), those serving life imprisonment, as well as those serving long sentences. He said others were inmates with serious medical challenges, elderly inmates, and other classes of inmates in the state who also made the list.

The chairperson assured the inmates that the government would look into their conditions based on the attestation of good conduct and industry while in custody to be made by the Correctional Service.

Ex-THISDAY Editor Bags National Excellence Certificate in PR

Hammed Shittu in Ilorin

A former Group News Editor with THISDAY Newspapers, Lagos, and now the Director of Corporate Affairs, University of Ilorin, Mr. Kunle Akogun, has been conferred with the prestigious Certificate of Excellence in Public Relations, Corporate Governance Category, by the Nigerian Institute of Public Relations (NIPR).

The award was presented to Akogun at this year’s edition of the National Spokespersons’ Award in Abuja. The event climaxed the maiden edition of the National Spokespersons’ Summit held at the International Conference Centre, Abuja, between March 25 and March 27, 2024.

Akogun, who joined the services of the University of Ilorin in 2012, was one of the finalists shortlisted from all over the country for the fourth National Spokespersons’ Award. His nomination, according to the organisers, was based on the recognition of his outstanding contributions towards the polishing of the good image of the university over the years.

In an interview with journalists in Ilorin yesterday on the sideline of the ceremony, Akogun expressed gratitude to Almighty Allah for making it possible.

Sule Delighted as Lafia Council Chairman, Maifata, Emerges ALGON President

Igbawase Ukumba in Lafia

Nasarawa State Governor, Abdullahi A. Sule, yesterday expressed profound joy at the election of the Chairman of Lafia Local Government Area,

Aminu Muazu Maifata, as the national president of the Association of Local Government of Nigeria (ALGON).

The governor expressed delight over Maifata’s election

in a statement issued by his Chief Press Secretary, Ibrahim Addra.

A letter written to Maifata, which was contained in the statement, read in part: “Your elevation to the position of National President of ALGON is well deserved and a classic case of whom the cap fits. Your humility, calm disposition, hard work and unwavering loyalty have remained constant.”

DIA Planned Covet Execution of Abducted Journalist, Olatunji, Allege IPI, NUJ, NGE

Olawale Ajimotokan in Abuja

The International Press Institute (IPI), the Nigerian Guild of Editors (NGE), and the Nigeria Union of Journalists (NUJ) have accused the Defence Intelligence Agency (DIA) headed by Major Gen Emmanuel Undiandeye of secretly planning to elimination the Editor of FirstNews, Mr. Segun Olatunji, who was released yesterday after spending 12 days in DIA cell.

At a press briefing addressed yesterday in Abuja by the President

of NUJ, Chris Isiguzo; Secretary of NGE, Iyobosa Uwugiaren, and President, IPI Nigeria, Musikilu Mojeed, they said DIA’s action made them suspicious that they planned to secretly eliminate Olatunji so that members of the public could attribute his disappearance to suspected gunmen.

They described DIA action as vicious, uncivilized, unlawful, criminal, unacceptable and alien to Nigeria’s democratic space, saying it was now clear that there were some officers in the military

who were still finding it difficult to subject themselves to civil authority 24 years after the country returned to representative governance.

According to them, “We do not think this kind of attitude should be condoned by President Bola Tinubu, particularly, and Nigerians in general.

If officers in a military institution like DIA could hack a journalist’s telephone, mishandle his wife, abduct him, detain him secretly for 12 days and disobey senior officials of the federal government, then our democracy cannot be said to be safe.

Hunger, Insecurity: Group Begs Tinubu to Reinstate Betta Edu

Sunday Okobi

WORLD OF ISLAM

Edited by: MJO Mustapha Email deji.mustapha@thisdaylive.com

Don’t Miss the Last Ten Days of Ramadan!

Salman Al-Oadah/OnIslam/IslamiCity

Observing a retreat in the mosque (or home during a pandemic) is of the best things we can do during the last ten nights of Ramadan. The last ten nights of Ramadan are very special.

The first of these nights occurs on the eve of the 21st day of Ramadan. In other words, it is the night that commences after the completion of the 20th day of fasting.

Sometimes there are only nine nights, whenever the month of Ramadan lasts for only 29 days. Nevertheless, they are still traditionally referred to as “the last ten nights”.

during the last ten nights of Ramadan.” (Al Bukhari & Muslim)

It is most likely one of the last seven odd nights. Ibn Umar relates that Prophet Muhammad (pbuh) said:

“Look for it in the last ten nights. If one of you falls weak or unable to do so, then he should at least try on the seven remaining nights.” (Muslim)

A Muslim should seek out this special night by spending the last ten nights of Ramadan engaged in various acts of worship.

A group known, Youths Vanguard for Democracy and Good Governance, has called on President Bola Tinubu to reinstate the suspended Minister of Humanitarian Affairs and Social Welfare, Dr. Betta Edu. The group plea was on the heel of pervasive hunger in the country, most especially as it affects the less-privileged.

I, formerly known and addressed as OGBONNAYA FRANCISCA ONOME now wish to be known and addressed as ONAIBRE FRANCISCA ONOME. All former documents remain valid, general public take note.

I, formerly known and addressed as BABALOLA KABIRAT ABOSEDE now wish to be known and addressed as BABALOLA RHACHEL OMOLAYO OMOWUNMI. All former documents remain valid, general public take note.

I, formerly known and addressed as FATIMA MUSA IBRAHIM now wish to be known and addressed as FATIMA IBRAHIM MUSA. All former documents remain valid, general public take note.

I, formerly known and addressed as Dr. UGOWE IRIAGBONSE MONICA, now wish to be known and addressed as DR. IJIE IRIAGBONSE MONICA. All former documents remain valid. MDCN and the general public should please

In an open letter to the President Tinubu yesterday, the group pleaded with him to end

I, formerly known and addressed as ROSEMARY EHIGIATOR now wish to be known and addressed as VIVIAN EHIS. All documents remain valid. General public should please take note.

I, formerly known and addressed as SHITTU TEMITOPE SOCIAL ARINKE now wish to be known and addressed as ELETU TEMITOPE SOFIAT. All documents remain valid. General public should please take note.

I, formerly known and addressed as OGUNLEKE IBRAHIM JUNIOR now wish to be known and addressed as RASHEED IBRAHIM OLUWAFEMI. All documents remain valid. General public should please take note.

I Formerly known and addressed as MISS. RUTH IMAOBONG AYARA, now wish to be known and addressed as MRS. RUTH IMAOBONG ABIAMOWEI. All former documents remain valid. The general public should please take note.

the media trial against Edu by making public the EFCC report.

The group expressed worry that 11 weeks after the suspension of the embattled minister, the National Social Investment Programmes and Humanitarian Response are still shutdown in Nigeria, despite the nerveracking hardship, insecurity and humanitarian crises faced by a vast majority of Nigerians.

The statement signed by the National President and National Secretary, Abdulkadir Abubakar and Adelola Poju respectively, said one of the major spinoffs and accelerants to the many humanitarian issues bedeviling the country remains the subsisting suspension of the Minister for Humanitarian Affairs, Betta Edu.

Ramadan: Make Life Better for Nigerians, Cleric Tells Political Leaders

Kemi Olaitan inIbadan

A cleric, Sheikh Jamiu Ajadi Sanusi, has said political office holders owe it a duty to use their positions to serve the people and make life better for all Nigerians.

He made the call in Iseyin, Iseyin Local Government Area of Oyo State, at the Ramadan lecture organised by a former member of the House of Representatives, Hon. Shina Peller.

Sheikh Sanusi, who challenged Nigerians to come together and be faithful to the country, maintained that every Nigerian needs to change his or her attitude towards the country and must put God first in what they do.“In the spirit of Ramadan, I want to enjoin all our leaders to have the love of the people at heart, this is because they are holding their positions in trust for the people whom they must do all to make their lives better.

“For me all hands must be on deck for us all to help each other, to share the goodness, faithfulness, love and truthfulness, if we can share all these within ourselves, hopefully everything will be fine for all of us either you are a Muslim or Christian.”

Peller, who represented Iseyin/ Itesiwaju/Iwajowa/Kajola Federal Constituency, between 2019 and 2023, in his remarks at the event, called on Muslim faithful to positively impact people in their localities during and after the Ramadan fasting, urging them to continue to worship God and always seek His grace in uniting the nation.

“What we are doing here today is part of our responsibility because Ramadan is a time of maintenance of body and soul and if you understand impact; impact is making sure that people around you are well taken care of and that is what we are doing here today because we will be judge according to our actions and according to what we say and that is why it is important for us to listen to the word of Allah during Ramadan period and from what we heard, we can impact ourselves and also to make sure we share foods and give to the needy.

The last ten nights of Ramadan are very special. These are the nights that the Prophet Muhammad (pbuh) would spend in constant worship. Among these nights is Laylat al-Qadr (the Night of Power) - a night more blessed than a thousand months.

The Prophet (pbuh) used to single these nights out for worship and the performance of good deeds. He would exert himself in worship during these ten nights more than any other nights of the year.

Aisha (ra) tells us: “During the last ten nights of Ramadan, the Prophet (pbuh) would tighten his waist belt and spend the night in worship. He would also wake up his family.” (Al Bukhari)

Aisha also says: “I had never known Allah’s Messenger (pbuh) to read the entire Quran in a single night, or to spend the whole night in prayer up until the morning, or to spend a whole month in fasting - except in Ramadan.”

(An-Nasai’ & Ibn Majah)

When we say that the Prophet Muhammad (pbuh) spent the whole night in worship, we should qualify it. This is because he would spend some time eating dinner, partaking of his pre-dawn meal, and other similar activities. However, he would spend most of the night in worship.

Waking Up the Family

During the last ten nights of Ramadan, Prophet Muhammad would wake up his wives to pray for a much longer portion of the night...

Aisha (ra) informs us that the Prophet (pbuh) used to wake up his family during the last ten nights of Ramadan. Indeed, he used to wake up his wives for prayer throughout the year, but that was so that they could pray for a small fraction of the night.

We know this, because Umm Salamah (ra), the Prophet’s wife, relates that the Prophet (pbuh) woke her up one night and said:

“Glory be to Allah. What has been sent down of trials during this night? What has been sent down of treasures, so that the denizens of the bedchambers will be awakened? O Lord! To be clothed in this world by naked in the Hereafter.”

(Al Bukhari)

During the last ten nights of Ramadan, Prophet Muhammad (pbuh) would wake up his wives to pray for a much longer portion of the night than during the rest of the year.

Exerting Oneself in Worship

Aisha (ra) tells us: “The Prophet would exert himself in worship during the last ten nights more than at any other time of the year.” (Muslim)

The great jurist, Al-Shafi’i, declares: “It is Sunnah for one to exert greater efforts in worship during the last ten nights of Ramadan.”

When Aisha tells us that Prophet Muhammad (pbuh) would “tighten his waist belt”, she is speaking figuratively. The phrase means to set about to devote oneself fully and wholeheartedly to the task at hand.

Seeking Out Laylat al-Qadr (Night of Power)

One of the greatest distinctions of these ten special nights is that one of them is Laylat al-Qadr. This is the greatest night of the year - better than a thousand months. This means that a Muslim can earn more rewards on the Night of Power than he would if - excluding this special night - he were to worship his Lord for eighty-four years straight. This is one of the immense favors that Allah has bestowed upon the Muslim community.

Imam Ibrahim Al-Nakha`i says: “Good works performed on this night are better than those performed consistently for a thousand months.”

Abu Hurayrah relates that the Prophet (pbuh) said:

“Whoever spends Laylat al-Qadr in prayer, believing in Allah and seeking His reward, will be forgiven all of his past sins.” (Al Bukhari& Muslim)

“Believing in Allah”, in this hadith, means not only to believe in Allah, but to believe in the reward that we are promised for observing prayer on this night.

Laylat al-Qadr (the Night of Power) is on one of the odd nights. Aisha relates that Prophet Muhammad (pbuh) said:

“Seek out Laylat al-Qadr in the odd nights

The most likely candidate for Laylat al-Qadr is the 27th night of Ramadan. This is indicated by the statement of Ubayy ibn Ka`b: “I swear by Allah that I know which night it is. It is the night in which Allah’s Messenger (peace be upon him) ordered us to observe in prayer. It is the night on the eve of the 27th of Ramadan. Its sign is that the sun will rise in the morning of that day white without exuding any rays.” (Muslim)

A Muslim should seek out this special night by spending the last ten nights of Ramadan engaged in various acts of worship. These include reciting the remembrances of Allah, reading the Quran, and begging Allah’s forgiveness.

It is best for us to strive hard on all ten nights, because the Prophet Muhammad (pbuh) said: “The way we “look for” Laylat al-Qadr is by engaging in extra worship.”

When the Prophet (pbuh) said: “Look for it in the last ten nights” he did not mean that we should literally “look for” signs and indications that distinguish Laylat al-Qadr from other nights. The things that distinguish this night from other nights are part of the Unseen.

Allah (swt) says: “{Surely, We revealed it on a blessed night. Surely We ever wish to warn (against evil) - On this night, every wise matter is made distinct.}” (Ad-Dukhan 44: 3-4)

Allah (swt) says in the Quran: {Laylat alQadr is better than a thousand months. The angels and the Spirit descend therein, by the permission of their Lord, with every decree. (This night is) peace, until the rising of the dawn.} (Al-Qadr 97: 3-5)

These are the ways in which Laylat al-Qadr is special. They are not things that we can see with our eyes. No one after the Prophet can see the angels.

Observing a Retreat in the Mosque (I`tikaf)

Observing a retreat in the mosque is of the best things we can do during the last ten nights of Ramadan. Aisha tells us: “The Prophet (pbuh) used to observe a retreat in the mosque during the last ten nights of Ramadan up until he died. His wives continued to observe this practice after his death.” (Al Bukhari & Muslim)

The practice of i`tikaf is a strongly recommended act. It is defined as remaining in retreat in the mosque for the express purpose of worship. The purpose of doing so is to devote one’s heart exclusively to Allah (swt). The person engaging in i`tikaf keeps this intention close to mind and seeks Allah’s blessings. He should not forget the reason why he is observing this retreat. A person observing i`tikaf does not leave the mosque except for what is absolutely necessary (like going to the bathroom). While in the mosque, he should busy himself with the remembrance of Allah (swt). He should make sure to offer the remembrances of the morning and evening and the prescribed remembrances for the five daily prayers. He should perform all of the Sunnah prayers. He should read as much of the Quran as he can.

He should spend less time eating and sleeping as little as possible. He should avoid unnecessary talk. However, he should engage in advising his fellow Muslims and in enjoining them to truth and to patience.

Generosity

It is encouraged for us to be extra generous during the last ten nights of Ramadan, without being extravagant or ostentatious in our giving. Ibn `Abbas relates that: “Allah’s Messenger (peace be upon him) was the most generous of all people in doing good, and he was at his most generous during the month of Ramadan. Gabriel used to meet with him every year throughout the month of Ramadan, so the Prophet could recite the Quran to him. Whenever Gabriel met with him, he became more generous than a beneficial breeze.” (Al Bukhari & Muslim) Al-Nawawi, the Muslim scholar, states: “Generosity and open-handedness are strongly encouraged in Ramadan, especially during the last ten nights. By doing so, we emulate the example of Allah’s Messenger (peace be upon him) as well as of our Pious Predecessors. Also, this month is noble, and good works carried out in this month are more blessed than they are at any other time. Also, during this month, people are preoccupied with fasting and worship, and this distracts them from their livelihood, so they might need some assistance during this time.”

South Africa Coach, Hugo Broos, Dares Super Eagles

Arsenal in Talks with Napoli over £77m Osimhen Deal

injured, while Eddie Nketiah has lost his place as the Brazilian's backup, with Kai Havertz preferred in attack.

A striker is said to be high on the agenda for Arsenal this summer, and it seems as if Arteta is looking to shop at the very top table, with Osimhen tracked by a number of elite European sides.

According to report fromII Mattinoin Italy, Arsenal have opened

talks over a move for the Napoli hitman and are at the front of the queue to sign him, following club President Aurelio De Laurentiis's confirmation earlier this season that his No.9 will leave this summer.

It has been claimed all season that this will be Osimhen's final year in Italy, having clinched the Scudetto last season, with the north Londoners one of the primary suitors to sign the Nigerian.

Italian outlet CalcioNapoli, have previously relayed that Arsenal have established contact with Osimhen, with a fee of £77m, which is much lower than the previously stated release clause –touted as enough to secure the star. Osimhen may well have agreed terms on a move himself – but the real test for Arsenal will be negotiating with De Laurentiis, who drives a hard bargain.

WORLD CUP QUALIFIERS

Femi Solaja

Ahead of their 2026 World Cup qualifying clash with Nigeria on June 10, South Africa Coach, Hugo Broos, has dared Super Eagles, insisting that his team is not afraid of any African team.

The Bafana Bafana have improved since 2021, when Broos took over as head coach. The Belgian has built the team around home-based players, and they have achieved a good level of success as a result.

In the last Africa Cup of Nations, they perform well, finishing third after losing to Nigeria in the semi-final. They even beat 2022 World Cup finalists Morocco in the run-up to their bronze-medal finish.

During this international break, the Bafana Bafana returned to action for the first time since the AFCON third-place game against DR Congo, and they had games against Andorra and Algeria. In the first game against Andorra, in which Broos used majorly new players, they drew 1-1. And in the second game against Algeria on Tuesday, most of their stars returned to the starting lineup, and the game eventually ended 3-3.

The two friendly games

were the last games for South Africa before their World Cup qualifying fixture against Nigeria in June, and Broos is currently satisfied with the level that his team is playing at. He believes that with the results they have gotten from their previous games, there is no need to fear any African opposition.

“We played against a very strong team, but I do not think there was much difference between the quality of our game and the quality of the game in Algeria,” Broos told local media in South Africa.

“That means we have progressed in the last few months. We already showed that in the AFCON, and we did it again against Algeria. So, I don’t think we have to be afraid anymore of playing against any team in Africa.”

Meanwhile, the Super Eagles are still trying to find their feet after Jose Peseiro left the coaching position at the end of February. Finidi George, the interim coach, led Nigeria to a win against Ghana and a loss to Mali, and no one knows who will lead the team against South Africa as the Nigerian football federation is busy searching for suitable replacement for Peseiro.

Club Football Returns with Must-Win Matchups on DStv

The highlight of the Easter club football fiesta is the must-win clash between Manchester City and rivals Arsenal at the Etihad Stadium on Sunday, March 31st at 4:30 pm.

For Arsenal, this match is crucial as a win could reignite their hopes of clinching the league title — a feat they haven’t been able to replicate in over two decades. With the possibility of winning all their remaining matches to secure the championship, every point is vital for Arsenal.

Additionally, Alexis Mac Allister returns to where it began as Liverpool faces Brighton in an Easter Sunday doubleheader at 2 pm, while Saturday features a double-header with Aston Villa vs Wolves at 5:30 pm and Brentford vs Man Utd at 8 pm.

Elsewhere, Barcelona, ambitious in their pursuit of the title,

takes on Las Palmas on March 30th, aiming to close the 8-point gap separating them from table-topping Madrid. Real Madrid, meanwhile, battles the Inaki brothers-led Athletic Bilbao on March 31st.

In Serie A, Inter Milan remains the undisputed leader, boasting 76 points and a comfortable lead over their arch-rivals AC Milan.

Two Nigerian stars — Ademola Lookman and Victor Osimhen — square off on March 30th as Atalanta receives defending champions Napoli in a highstakes battle for a top-four finish. With other exciting games scheduled, football enthusiasts can anticipate a weekend brimming with thrilling plays, surprising outcomes, and compelling sporting drama. To catch all the action, tune in to SuperSport on DStv or catch the action on DStv Stream for on-the-go viewing at no extra cost.

Lagos SWAN, WCFL Sign Grassroots Football Devt

The Lagos State chapter of the Sports Writers Association of Nigeria (SWAN) has signed a one-year agreement with the White-Collar Football League (WCFL), marking the beginning of a collaborative effort in recognition of the immense potential of sports as a multi-billion-dollar industry and the role of the Nigerian media in its development.

During a brief ceremony attended by the management of WCFL, Lagos SWAN executives and members, Debo Oshundun, Chairman, Lagos SWAN, said

the partnership will catalyze community development.

He described WCFL as a platform for sustainable development, poverty alleviation and economy booster.

“We acknowledge that we cannot single-handedly solve all Nigeria's challenges. We firmly believe in the power of collective action. Just as little drops make the mighty ocean, our collective efforts, no matter how small, can contribute to significant changes.

''We firmly believe that the changes we aspire to see in our

communities must start with us,” Oshundun said.

For the CEO of White-Collar Football League, Dave Jones, the partnership is enshrined in the transformation of lives and communities in Lagos state.

He said leveraging the platform of corporate football to raise funds for high-impact charitable initiatives will provide a pathway for the youth of Ajegunle, where the pilot programme starts from an opportunity to realise their potential.

“Today, as we forge a strategic alliance with Lagos SWAN, we

reaffirm our commitment to transparency, accountability, and progress. Together, we will keep our stakeholders informed and engaged, ensuring that our collective efforts yield meaningful results.”

The creative idea of combining football and community development was lauded by His Royal Majesty, Oba Moroof Oyekunle Amodu-Tijani Oluwa, Olu of Iwa and Apapa Kingdom. The Chairman of the board of Trustees of the White-Collar Football League said there is a need for more creative ideas in

addressing peculiar challenges in our communities.

He thanked the Lagos State Government through the Lagos State Football Association (LSFA) and the Chairman Ajeromi-Ifelodun Local Government Area for their support.

The Executive Chairman of Ajeromi-Ifelodun LGA, Honourable Fatai Ayoola, expressed his excitement over the partnership between Lagos SWAN and WCFL.

He said the event will change the face of corporate sporting excellence in Ajegunle.

Deal

Oba Oluwa thanked the WCFL board for their commitment to constructing a state-of-the-art tech- hub for talent development and an ultra-modern medical centre for affordable healthcare services.

The WCFL is a 5-aside football championship for corporate industry workers from across Nigeria. The tournament not only displays the skills within the corporate community but also fosters camaraderie and spirited competition among participants, contributing to a brighter future for Nigeria.

Super Eagles players...primed to player South Africa in June

PRESIDENT TINUBU AT 72: LEADERSHIP IN CHALLENGING TIMES

“Illuminations” on March 16, Segun Ayobolu, surmised that it would appear that President Tinubu thrives more when confronted with crises that compel him to draw on his inner psychological, spiritual and strategic political resources to navigate treacherous terrain and come out triumphantly again and again. “For instance at the end, in 2007, of his eight-year tenure as governor in Lagos State, the mega city had evolved into a bastion of security of lives and property, rapid infrastructural transformation, and provision of social services especially to the vulnerable segments of the population.”

Perhaps the trajectory of the Tinubu administration in the unfolding Nigerian story in the Fourth Republic is following that route. The initial seemingly gloomy situation is gradually giving way. Indeed, light is not only assured at the end of the tunnel, it is presently beginning to shine brighter and brighter through the tunnel. There is plenty evidence for this as I previously indicated.

For instance, naira has continued its streak of rebound and steady appreciation. The Nigerian currency had gained considerably against the dollar with the exchange rate standing around N1, 200 to $1 on Wednesday as I was rounding off this piece. The Green Back is expected to fall even further following the decision of the Central Bank of Nigeria, through a circular on Monday, to offer $10,000 to each eligible Bureau De Change operators at N1, 251/$1 with a directive that they sell to eligible end users at a spread of not more than 1.5% above the purchase price. This is likely to impact the prices of many products.

And to further tighten liquidity in the country and shore up the value of the Naira,

the CBN Monetary Policy Committee, at the end of its second meeting in 2024, raised the monetary policy rate by 200 basis points from 22.75% to 24.75%. The Cash Reserve Ratio, CRR, and Liquidity ratio were retained at 45% and 30% respectively.

There are other developments and unprecedented data on the economic front indicating the country is turning the corner. One is the marked improvement in the value of capital importation into the country, which NBS put at 66%, while the recent clearance of the backlog of foreign exchange by the CBN, demonstrating a new regime of trust and confidence at the apex bank, which should help push down high air transport fares in the country, is another.

Additionally, the country’s external reserves increased by $347.53 million to $34.11billion as at March 7, 2024 from $33.016 billion it was on January 2, 2024, recording a 2.83% year-to-date accretion following inflows from foreign capital and remittances.

Perhaps more remarkable is the courage, political will and personal commitment to effecting a change and improving the quality of life of the people in line with his Renewed Hope Agenda that President Tinubu has brought to the fore. This shone brilliantly in his handling of hydra-headed problems. This determination and taking bold decisions, in my view, are contributory factors in the changing Tinubu governance narrative.

Take for instance the recent abduction of 137 schoolchildren from a school in Kuriga, Kaduna State. The President categorically ruled out paying ransom for the release of the children from the hold of the bandits. Mercifully, they were released through the collaborative efforts of the Federal and State

THE LONG ROAD FROM ROME

the reasons their prescriptions do not work is attributable to the nugatory effect of rampant public sector corruption and impunity. If they know then what are they doing about it?

How does building a fifteen million dollars Vice Presidential Lodge rise to the bar of IMF “responsible spending”. Where is the responsible spending in funding the opulence and conspicuous consumption of a few in a situation in which Nigeria is rated the poverty capital of the World?. After the damage has been done, they will then turn around to blame the country for what was foreseeable right from the beginning.

It is a behaviour that hacks back to colonialism. The colonial powers would couple together a disparate group of nationalities to form a country, in the full knowledge that the potential to fail far exceeds the probability of success. After the ‘country’ has duly fulfilled the potential to fall, they will then assume the posture of condescending detachment as if they were not the authors of the failure in the first place. As Anthony Kirk Green remorsefully noted “the tragedy of 1967 is that many of its seeds were not, as is often claimed, sown in October or even July 1966, but in the 1950s or, as some see it, in 1914 or maybe in 1900 itself.”

In its 2022 tracking report, the Independent Corrupt Practices Commission, ICPC, published its investigations into how the Constituency projects budget item of the Nigerian national assembly are utilised. It reads like a compendium of the escapades of a 419 syndicate. Owing to space constraints, I can only scratch the top of the iceberg.

‘Records have it that at least N2 trillion has been spent on constituency projects from 2003 to date, even as Sunday Vanguard gathered that N95 billion and N100 billion had been allocated to the projects every year and shared among the 109 senators and 360 members of the House of Representatives’

“In addition to the N100 billion appropriated annually for constituency projects, the National Assembly embedded additional projects into mandate budgets of MDAs. This is done to increase the project portfolios of concerned legislators and their influence on MDAs. The value of the insertion was in billions. Meanwhile, many of the awarded constituency projects across Nigeria have not started, been abandoned or named but are not in existence”.

In all of this contemporary perversion, the most unique individual is the Senate President, Godswill Akpabio. One of the

Governments and their security agencies. Paying ransom is akin to giving ammunition to the bandits to acquire more sophisticated weapons for their evil activities.

To speedily effect changes in the country’s security architecture to enhance safety of lives and property, the President, working in collaboration with the state governments, has set up a high powered committee to draw up modalities for the introduction of state police. Last week, Vice President Kashim Shettima asked states which are still dragging their feet on the issue to urgently submit their proposals so that necessary legislation could be forwarded to the National Assembly towards this objective.

There is also the Pulaku initiative, a nonkinetic effort aimed at addressing the root causes of farmer-herder conflicts and fostering national unity. President Tinubu quickly ordered the release of N50billion as operational fund for its immediate take off. The initiative, expected to revitalise the communities through the construction of residences, roads, schools, and essential facilities, will initially focus on seven states that have been disproportionately affected by farmer-herder conflicts. They are Sokoto, Kebbi, Benue, Katsina, Zamfara, Niger, and Kaduna States.

In this regard, shortly after the removal of the fuel subsidy, the Tinubu administration released a first tranche of N2 billion each to the 36 state governments and the Federal Capital Territory to provide palliatives to ease the pains of their people as a result of the economic reforms. The President also recently urged state governments to seize the opportunity of increased Naira revenues from the Federation Account to issue and pay salary awards to their workers just as the Federal Government has

most negatively predictable public official in Nigeria, his public career has been a study in the utility of public corruption for upward mobility in the ladder of political leadership in Nigeria.

A few years back, of all the potential choices former President Muhammadu Buhari could make as Minister of Niger Delta Affairs, it was Akpabio he headhunted for the position-with predictable consequences. ‘Barely a month after his appointment, Akpabio clashed with the acting managing director of the Niger Delta Development Commission, Joy Nunieh. Ms Nunieh, who was subsequently relieved of her position, accused Akpabio of graft and sexual harassment. Five months after he exited office in 2015, Nigeria’s anti-graft agency, the EFCC, arrested Akpabio over an alleged theft of N108bn ($227m) belonging to Akwa Ibom State’.

Given the conspicuous stench that was bound to emanate from his election to the office

been doing through its N35,000 wage award to federal public servants. Indeed, many state governments have recently stepped up the introduction of palliative measures to provide succour for their people in critical areas including agriculture and food affordability, education and healthcare among others. There are many more. An executive order to further boost investment, create jobs and business opportunities in the oil and gas sector is in place while the Federal Government in collaboration with states again are engaging in mechanized agriculture. It is also noteworthy to state that, though the prices of goods may be high, the claim in some quarters that Nigeria is facing food crisis is not supported by facts. Those insinuating this are merely playing politics. President Tinubu had since ordered the release of 42,000 metric tonnes of grains to the states from the National Grain Reserves. And with what I witnessed last week, along with the National Communication Team led by Information Minister Idris Mohammed Malagi, in respect of massive planting of wheat and maize in Jigawa State, even in dry season, the state is set to meet this year’s target in respect of domestic consumption of the two commodities and exports.

The Tinubu government is thinking and working frantically to ensure all of that and more so that governance remains impactful and enduring. It has become compelling that as citizens, we must continue to play our part. The example of Lawyer and Businessman Allen Onyeama’s Air Peace and its gallant intervention, which helped to crash the airfares on the lucrative Lagos-London route, is there for all of us to emulate.

-Rahman is a Senior Presidential Aide

all well and good to run for the Presidency and Senate at one and the same time. That having lost the pursuit of the former, you are simultaneously entitled to go after the other.

In diabolical humour, former Governor of Imo state Rochas Okorocha who equally contested for the Presidency, wondered aloud “I was there in the field with you running for President, I never knew how you were able to meander, leaving some of us. Next time you must teach me how to do that.”. The combination of Akpabio and the Nigerian Senate has proven to be a marriage made in heaven. No deed is too profane nor outrageous for the Senate to contemplate. In anticipation of the debt Nigeria is about to incur, their first order of duty was to self-allocate seventy billion naira on the purchase of choice SUVs to “support their working conditions”.

Senator Abdul Ningi is not, by any stretch of the imagination, a reform minded public official. His outing was one of those instances in which thieves could find no honour among themselves. Regardless of the motive, the more of such resultant whistle blow, the better for the Nigerian public. He alleged “For the first time in Nigerian history, today we are operating two different budgets. One budget was approved by the National Assembly and signed by President Bola Tinubu, and the one was implemented by the presidency. The one approved by us is N25tn while the one operated by the Federal Government is N28tn.”

of Senate President, I offered the unsolicited counsel that it was non-strategic of President Bola Ahmed Tinubu to sponsor Akpabio for the position. It turned out I was shooting blind concerning the ulterior motive behind his adoption as Senate President.

I have been subsequently schooled that “the charges from seven years ago could now become a tool in the hands of the executive branch. Some political analysts, including Olanrewaju Suraju, chairman of the Civil Society Network Against Corruption, suggest that the executive could use these graft charges to push through policies, effectively compromising the legislative process”.

In the account of institutional perversion in Nigeria, the story of how Akpabio turned and twisted his way to the Senate is in a class all by itself. In what must go down in history as a lowliest turn of the Supreme Court, he suborned the highest Court in the land to sanction the proposition that it was

There are a few loose ends here. First is that Senator Abdul Ningi cannot just wake up one morning and cook this up, no matter the motives. If he did, then he is a good candidate for Aro mental hospital in Abeokuta. Neither does this corruption prone Senate deserve to be given the benefit of doubt. Where the honesty and probity of these lawmakers are concerned, you bet on them at your utmost peril. Certainly, not when, Senator Jarigbe Agom Jarigbe (at the same session) gave us a heads up. “if we want to go into those issues, all of us are culpable. Some senators here, so-called senior senators, got N500 million each. I am a ranking senator, I didn’t get?”

If terror keeps escalating in Nigeria, it is simply following the logic that corruption and terrorism coexist in a mutually reinforcing relationship. Speaking directly to the Nigerian dilemma, Sarah Chayes argues ‘Governments that ostensibly fight terror, may actually generate more dire security crises than they curb as a result of corrupt governance practices’.

Senate President, Godswill Akpabio

NNPCL to Rumour Mongers

“NNPC Limited wishes to clarify rumours suggesting a price adjustment for Premium Motor Spirits (PMS and Automotive Gas Oil (Diesel)at its retail stations nationwide. The company asserts that these reports are false and urges Nigerians to disregard them entirely” –NNPC Chief Corporate Communications Officer, Olufemi Soneye, denies the price adjustment rumours.

TUNDERAHMAN

GUEST COLUMNIST

President Tinubu at 72: Leadership in Challenging Times

Today is President Bola Tinubu’s 72nd birthday. Instead of rolling out the drums to celebrate the day, the President directed there should be no celebration of any kind, including placing newspaper, radio or television advertorials in his honour. He urged anyone wishing to do such for him to donate the money to charity organisations. The decision was taken in deference to the present challenging times.

It is a mark of good leadership for a leader worthy of that name to have compassion for the people, identify with them and demonstrate he shares in their pain. Showing empathy for the people and the emotional intelligence of identifying with the weak and vulnerable are in President Tinubu’s DNA. This character trait has become a remarkable feature of his birthdays over time.

In March 2020, on the cusp of his 68th birthday, he cancelled his birthday colloquium over the outbreak of coronavirus, explaining that the decision was important amid the overriding public concern over the pandemic.

What happened in respect of his 70th birthday on March 29, 2022 was even more touching. He called off an impressive birthday colloquium, right in the middle of the event at Eko Hotel & Suites, Lagos with all the dignitaries in attendance, to honour

victims of Abuja-Kaduna train attack. And last year, even after he had convincingly won the February 25, 2023 election, President Tinubu did not celebrate his birthday, saying he would devote the moment for reflection on the huge task ahead.

This year’s birthday is the first by President Tinubu on the saddle. His administration

DIALOGUE WITH NIGERIA

is in its 10th month. This period, therefore, offers a veritable opportunity to interrogate his personae, character and administration thus far. There is little doubt that the time we are in is a challenging one indeed.

On assumption of office, the President was greeted by a dire economic situation; the economy almost prostrate. The bold reforms the President instituted, notably the removal of the ruinous fuel subsidy and the unification of the multiple, even dubious foreign exchange rates, though bold and necessary decisions applauded by economic experts, did not immediately produce salutary outcomes with a sudden rise in foreign exchange rates, and the consequential serious impact on other sectors. The cost of petroleum products particularly Premium Motor Spirit and diesel went up with its attendant effects on transport fares. Prices of goods and services particularly staple food items also skyrocketed including prices of other items not dependent on foreign exchange. Inflation rose, hitting 31.70% in February from 29.90% recorded in January 2024, according to the National Bureau of Statistics.

However, it’s no longer a depressing story. A combination of courage and determination to change the tide on the part of the President, the employment of the right calibre of economic managers who deployed the right fiscal and

monetary policies and perhaps a dose of good fortune helped to gradually change the downward economic curve. As President Tinubu would now say, the headwinds are already giving way and there is light at the end of the tunnel. This heartwarming development is evident enough, but I will soon return to elaborate on the issue.

It is important and relevant to point out that President Tinubu is no stranger to this kind of trajectory in his chequered political career. As Governor of Lagos State (1999-2007), his administration was off to a bumpy start with security issues rearing their ugly heads, roads littered with potholes and heaps of refuse taking over the Lagos landscape, amid poor revenue. There was also the protracted crisis between his administration that inherited a practically insolvent economy and the trade unions as a result of the initial inability to pay the then new National Minimum wage of N7,500. The Tinubu administration confronted all of that and many more crises headlong, successfully altered the situation and left behind important milestones at the end of his tenure.

Writing in his insightful column

Continued on page 39

akinosuntokun@thisdaylive.com

The Long Road from Rome AKIN OSUNTOKUN

“Corruption in the Senate of Rome was a prevalent issue throughout the history of the Roman Republic and the Roman Empire. Senators would often accept bribes from wealthy individuals, foreign ambassadors, or even other senators to influence their decision-making. Senators would use their influence to secure positions of power or prestigious appointments for their family members, regardless of qualifications or merit”.

“Moreover, the Senate was also known for its lavish lifestyles and extravagant spending. Senators often embezzled public funds for personal gain, enriching themselves at the expense of the Roman people”. The widespread bribery, nepotism, political manipulation, and financial misconduct undermined the integrity and effectiveness of the Senate as a governing body. These corrupt practices played a role in the decline and eventual

fall of the Roman Empire”.

The behavioural pattern sketched above was typical of the Senate of Rome over two thousand years ago. Yet were I not to reveal this information, it can be mistakenly assumed that it is all about the primitive behaviour of the 10th Senate of Nigeria. In the wake of the 2023 general elections, we have witnessed the iconic personification of corruption by the three organs of government, especially the Judiciary and the National Assembly. I have always argued that it is impossible to have a corrupt executive without a corrupt Parliament and a corrupt Judiciary and vice-versa. It is a systemic crisis in which they are all implicated.

Thanks to the principle of Separation of Powers and Checks and Balances. Notionally and in the anticipation of any of them going rogue, the three organs are separate and intended to serve as checks against any tendentious deviant behaviour of one another. A dysfunctional society ensues where all of them have gone rogue and a vicious cycle of

degenerate behaviour rules the nest. A corrupt Executive cannot call a corrupt Judiciary to order. Neither can a corrupt Judiciary call a corrupt Parliament to order.

This is the interpretation of the persistently high ranking of Nigeria on the ladder of worldwide corruption by the Transparency International, TI. The peculiar dimension of corruption in Nigeria today is that it is not the revenue generated by Nigeria that is being plundered, it is the money borrowed internally and from the international community.

The Nigerian debt abyss is summed up in the excerpts that follows. “The ICIR shows that as of June 30 2023, Nigeria owes the World Bank $14.5 billion, according to data from the Debt Management Office. Nigeria’s debt to China increased from $3.93bn as of June 30, 2022, to $4.73bn as of June 30, 2023, showing an increase of $800m in one year. Nigeria’s total public debt reached N87. 91 trillion by the end of the third quarter of 2023”.

This then begs the question, what is the

opinion of the lending agencies and countries to Nigeria, (World Bank, IMF, China) on the routine evidence of the way and manner Nigerian public officials spend the money we borrow from them?

Does it not amount to double jeopardy to the low income earners who fare far worse under the ‘IMF’ regime and bear no responsibility for bringing Nigeria to this sorry pass? Worst of all is the regular advertisement of the self-enriching criminal abuse of the loans in the public glare.

Since the pipers dictate the tune, why have these pipers (loaners) fail to exercise their right of first refusal and insist that their money should (for instance) not be used to buy exorbitant state of the art SUVS for the pleasure of four hundred and sixty Nigerians? How does the claim by the IMF that it “works with governments to ensure responsible spending” square up with this kind of spending? Do they not know that

President Tinubu