MONDAY 3RD APRIL 2023

Reuters Survey: At About 1.6mbpd, Nigeria’s Oil Production Was OPEC's Biggest Increase in March Expert urges next govt to emplace independent, powerful regulator for oil, gas industry Say regulator in mode of CBN, NCC needed to strengthen oil sector activities for increased FX earnings

Emmanuel Addeh and Peter Uzoho with agency report

Nigeria’s crude oil production for March 2023 edged up to about 1.6 million barrels per day (mbpd), with

the country recording the biggest Organisation of Petroleum Exporting Countries’ (OPEC) biggest increase

last month, a survey by Reuters has revealed.

At about 1.6 million, the country

was able to meet the federal government's target for the first quarter of 2023, the survey conducted

by Reuters for March disclosed.

Continued on page 5

Buhari, Abiodun, Dabiri- Erewa Hail Anthony Joshua's Defeat of Franklin...

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Monday 3 April, 2023 Vol 28. No 10218. Price: N250

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Wike’s Police Arrested APC Lawyers Filing Petitions in Rivers, Cole Alleges...

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Falana: President Can’t Withhold Assent to Constitution Alteration Bills No, president must sign, Justice Okeke ruled in 2010

Gboyega Akinsanmi A fortnight after President Muhammadu Buhari withheld

assent to 16 of the 35 Constitution Alteration Bills, a human rights lawyer, Mr. Femi Falana, SAN, yesterday, said the decision by the

president to withhold assent on some of the alteration bills to the constitution contravened Section 9 of the 1999 Constitution as amended.

But Justice Okechukwu Okeke of the Federal High Court, Lagos, had ruled in November 2010 that the president must assent to bills

before they become law.

In other words, what this means in essence is that, if the bills compulsorily required the assent

of the president, then, the president also withholds the right to decline Continued on page 5

Tinubu Begins Team Building, Considers Gbajabiamila Chief of Staff Wale Edun, Bagudu also in high consideration for key roles Soyinka advises president-elect to either restructure Nigeria or fail Insists nation won’t cease demanding change Emmanuel Addeh in Abuja Ahead of his takeover on May 29 as the 16th President of Nigeria, the President-elect, Bola Tinubu, has already begun team building, with Speaker of the House of Representatives, Femi Gbajabiamila, said to have been penciled in as his Chief of Staff.

Also believed to being considered for some serious roles in the coming administration are his former Commissioner for Finance, Wale Edun and the Kebbi State Governor, Atiku Bagudu, among other familiar

faces currently being identified for different roles.

This is as a renowned playwright and popular Nobel Laureate, Prof.

Wole Soyinka, has warned Tinubu against failing to restructure the country, saying it was the only way out of the current national ordeal.

Soyinka, who spoke in some of the snippets released of his exclusive interview with Channels Television, further maintained that Nigerians would never stop demanding restructuring, hence, it was the Continued on page 5

New Breakthrough Drug, Dostarlimab COURTESY VISIT TO THE OLU OF WARRI...

Delta State Governor-elect, Sheriff Oborevwori; His Majesty Olu of Warri Kingdom, Ogiame Atuwatse III, and PDP Gubernatorial Emerges for Cancer Treatment... Page 42 L-R: Candidate for Jigawa State, Mustapha Lamido, during a courtesy visit to the Olu of Warri in Delta state...yesterday

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Buhari, Abiodun, Dabiri-Erewa Hail Anthony Joshua's Defeat of Franklin Deji Elumoye and Michael Olugbode in Abuja President Muhammadu Buhari and Ogun State governor, Dapo Abiodun have celebrated the victory of Nigerian-born boxer, Anthony Joshua, over Jermaine Franklin, commending the triumph of the gifted pugilist over a formidable opponent.

Also, the Chairman/CEO, Nigerians in Diaspora Commission, (NIDCOM), Hon Abike DabiriErewa, congratulated British-Nigerian former World heavyweight champion for getting his mojo back.

Buhari, extolled the mentality of Joshua, who did not allow personal setbacks and obstacles to dent his resilient spirit.

The president, in a statement yesterday, by his Media Adviser, Femi Adesina, said the former

three-time world heavyweight champion have demonstrated that by hard work, patience, dedication, persistence and humility, those who dare do win.

Buhari lauded Joshua for his courage and discipline, on and off the ring, and prayed that this success will be a stepping stone to one of the greatest comebacks in boxing history.

The president believed that the accomplishments of Joshua on the world stage would continue to inspire many upcoming professionals, particularly sportsmen and women, not to be discouraged by temporary defeats and setbacks.

He wished Joshua a bright future and fulfilling career.

On his part, Abiodun hailed the Nigerian-born British heavyweight boxer for out-punching Franklin, in a bout on Saturday.

Abiodun, who described the victory of the Ogun state indigene and former international boxing champion as a great comeback and heart-warming, noted that Joshua, with his latest feat, has made Nigeria and Ogun proud once again.

In a statement by his Chief Press Secretary, Kunle Somorin, Abiodun pointed out that Joshua did not allow his past defeat to dampen his spirit, rather, he rose from the setback and proved to the world that the champion in him never dies.

While calling on Joshua to use his latest triumph in the ring as a spring for a superb comeback, the governor urged him not to relent, but continue to work hard in order to regain his pride of place in the world of boxing.

TINUBU BEGINS TEAM BUILDING, CONSIDERS GBAJABIAMILA CHIEF OF STAFF way to go.

However, in readiness for his administration’s take-off next month, THISDAY gathered that Gbajabiamila, has already begun to discharge the duties of the chief of staff to Tinubu, having unofficially resumed with him in France, with a view to working out processes and plans, including calendarising his activities.

“He has technically resumed with him in Paris, and they are trying to work out process and plans,” an insider told THISDAY, adding

that the president-elect was already looking at building national security and economic team.

According to the source, Tinubu has appointed Edu and Bagudu into his economic team, which he considered a critical sector requiring attention immediately he assumes office.

The source hinted thus: “Wale is supposed to be the coordinator of the economy, either as Finance Minister or the CBN governor. It is not clear yet what his plans are for Bagudu.

But he has also been penciled in

and is going to be operating at a very high and serious level in the administration.”

Meanwhile, Soyinka, has insisted that if Tinubu wanted to succeed as president and given the state of the country, then, there would be no alternative to restructuring, an idea Tinubu also pushed as opposition and progressive before his party gained power.

For years, there have been several calls for restructuring in Africa’s most populous nation, including the demand for the establishment of

FALANA: PRESIDENT CAN’T WITHHOLD ASSENT TO CONSTITUTION ALTERATION BILLS his assent if he so wishes.

Yet, Falana, a former President of West African Bar Association, further argued that the 16 constitution amendment bills, which the president refused to sign on March 17, would automatically become effective because their enactment had duly satisfied the requirements of the Constitution.

He made these claims in a response to a THISDAY inquiry, pointed out that even though his assent “is required, there is no provision for the president to withhold assent to the constitution alteration bills,” adding, however, that both the state and federal legislatures were authorised by Section 9 of the constitution to make laws.

Buhari had signed 16 Constitution Alteration Bills, 2023 into law out of the amendments bills to the 1999 Constitution presented to him by the National Assembly while he withheld assent to 16 other bills The president’s assent to 16 constitution alteration bills had authorised the states to generate, transmit and distribute electricity.

It equally empowered them to undertake railway projects with any interference from the federal government, among others.

In his statement, Falana claimed that Buhari lacked the power “to reject the constitutional amendment bills passed by the required majority in the National Assembly and 27 out of the 36 houses of Assembly of the states.”

The senior lawyer explained that the president's power to withhold his assent “is limited to bills passed by the National Assembly pursuant to section 58 of the Constitution.”

Section 58 (1-2) of the 1999 Constitution states: “The power of the National Assembly to make laws

shall be exercised by bills passed by both the Senate and the House of Representatives and, except as otherwise provided by subsection (5) of this section, assented to by the President.

“A bill may originate in either the Senate or the House of Representatives and shall not become law unless it has been passed and, except as otherwise provided by this section and section 59 of this Constitution, assented to in accordance with the provisions of this section.”

Under Section 58(5), specifically, the Constitution states: “Where the President withholds his assent and the bill is again passed by each House by two-thirds majority, the bill shall become law and the assent of the President shall not be required.”

Falana argued that Section 58 of the 1999 Constitution “does not include the power of the president to withhold assent after the National Assembly and 36 Houses of Assembly have duly altered some sections of the Constitution."

Even though a court of competent jurisdiction had declared that assent of the president "is required after the constitutional amendment," Falana argued that the president lacked the power to withhold assent once constitutional requirements were met, arguing that it was Section 9 of the 1999 Constitution that provided for the process of amending the constitution contrary to Section 58 that the president relied on to withhold assent to the 19 amendment bills.

Section 9(1-3) of the 1999 Constitution states: “The National Assembly may, subject to the provision of this section, alter any of the provisions of this Constitution.

“An Act of the National Assembly for the alteration of this Constitution,

He described the heavyweight boxer as a shinning star of the state and great model to the youth, saying his administration would continue to put in place world-class sports facilities, to ensure more Joshuas evolve from Ogun.

not being an Act to which section 8 of this Constitution applies, shall not be passed in either House of the National Assembly unless the proposal is supported by the votes of not less than two-thirds majority of all the members of that House and approved by resolution of the Houses of Assembly of not less than two-thirds of all the States.

“An Act of the National Assembly for the purpose of altering the provisions of this section, section 8 or Chapter IV of this Constitution shall not be passed by either House of the National Assembly unless the proposal is approved by the votes of not less than four-fifths majority of all the members of each House, and also approved by resolution of the House of Assembly of not less than two-third of all States.”

Consistent with these provisions, the senior lawyer explained how the National Assembly voted and passed 44 constitutional amendment bills and forwarded them to the houses of Assembly of the 36 states.

Out of the 44 bills, Falana claimed that 27 houses of assembly “passed 35 amendment bills to the 1999 Constitution. The number of state houses of assembly that passed the 35 bills were more than the 24 states required by section 9 of the 1999 Constitution.

“Thereafter, the National Assembly sent the 35 bills to the President for his assent. The President was reported to have assented to only 16 out of the 35 bills. In this respect, the President lacks the power to reject the constitutional amendment bills passed by the required majority in the National Assembly and 27 out of the 36 houses of Assembly of the states.”

Okeke, in his ruling, contended that, the amendment to the 1999

Constitution carried out by the then National Assembly could not become operational without the assent of President Goodluck Jonathan.

Okeke, also ruled that the purported amendment to the Constitution remained inchoate until it was presented to the president for his assent and approval, adding that the the 2010 Constitution Amendment Act was null and void.

Justice Okeke came to the conclusion while delivering judgment in a suit filed by the former President of the Nigerian Bar Association (NBA), Olisa Agbakoba, challenging the refusal of the federal lawmakers to forward the amended Constitution to the President for his assent.

Agbakoba had sued the National Assembly and the Attorney General and Minister of justice, Mohammed Bello Adoke, challenging the legality of the claim by the lawmakers that President Jonathan's assent was not required before the amendment to the Constitution can become operational.

In the same vein, Second Republic National Secretary of the National Party of Nigeria (NPN), Chief Richard Akinjide told Saturday Vanguard in his reaction to the development that the amended constitution required the assent of the President because that is the law.

“The National Assembly cannot bypass the President . It is unlawful.

If the President does not assent those amendments, they will not be valid.What they have done is an amendment to some sections of the constitution. It is not a wholesale review of the entire constitution.

“The National Assembly described it as an Act. You cannot pass an Act without the assent of the President.

That is clear when you look at the interpretation of an Act and the provision of our constitution.”

In his opinion, too, Felix Ayanruoh Esq, said “The arguments that Presidential assent is not required in the amendment of the Nigerian Constitution is erroneous, specious, and without sound basis in law.

There is no case law or statutory provision that backs these assertions.

We don’t need the United States law or other country’s law as a precedent when our own laws are clear on the issue.

“The Nigerian Constitution is very clear on this issue and any statutory or case law that is inconsistent to the provision of the Constitution is to the extent of its inconsistencies void.It should be noted that unlike the Nigeria Constitution the amendment of the US constitution can emanate from either Congress or the States to call for a new Constitutional Convention to make the amendments.

“Also the states have two ways of ratifying an amendment. Either ¾ of the state legislature may approve an amendment; or each state can have a convention to approve the amendment. 27 amendments have been ratified and become part of the United States Constitution. All but one of the proposals became an amendment by passing State Legislature. The amendment provisions of both constitutions are different and should not be interpreted as same.

“Suffice to state that the intentions of the drafters of the Nigerian constitution are not in doubt, when they refer to the proposed amendment as an Act. An Act of the National Assembly can only become law after presidential assent as clearly stated in our laws. The language of Section 9(2) does not in any way obviate the President from the amendment process.”

multi-level policing to curb Nigeria’s rising crime rate.

Last year, Nigerians in the Diaspora Organisation, Americas (NIDOA), argued that by restructuring the nation, Nigeria’s diversity in religion and culture would be leveraged as a positive force for development.

The group maintained that the 1999 constitution was enacted by a decree of a former military head of state, Abdulsalami Abubakar, without recourse to the Nigerian people.

Among top Nigerians that have also urged the government to restructure included former President Olusegun Obasanjo, nonagenarian, Ayo Adebanjo, leader of Afenifere, the Peoples Democratic Party (PDP) presidential candidate, Abubakar Atiku and Governor of Kaduna State, Mallam Nasir el-Rufai.

But, in what appeared a major step forward last week, Buhari appended his signature to the decentralisation of the country’s electricity grid as well as the prisons service. Also included for decentralisation in the new law is the country’s railway service.

However, speaking during an interview on Roadmap 2023, a Channels Television’s programme that highlights election issues and tracks personalities, Soyinka said the government of Tinubu must place a renewed focus on the persistent calls for restructuring the Nigerian federation, a position the president-elect had long embraced when he was in the opposition and projecting progressivism.

He explained that otherwise, Tinubu’s programmes and policies would face serious challenges if his advice was not heeded.

“Whomever it is, must understand that the people of this country will not cease demanding a restructuring of this nation. New voices are being heard and they are more powerful than before. They are not just whining voices, they are voices based on actualities.

“We have failed in so many directions and they are saying, ‘let us try in this direction’ and you cannot ignore it. Otherwise, even your economic policies will fail, your infrastructure and transformation will fail. We will just go back threading the same old spur,” he stated.

Soyinka further noted that a mould had been broken during the just concluded elections.

REUTERS SURVEY: AT ABOUT 1.6MBPD, NIGERIA’S OIL PRODUCTION WAS OPEC'S BIGGEST INCREASE IN MARCH The latest production performance contributed significantly to the 28.90 mbpd pumped by OPEC. Minister of Finance, Budget, and National Planning, Mrs. Zainab Ahmed had in December 2022, said at the World Bank’s Nigeria Development Update and Country Economic Memorandum in Abuja, that the government set its sight on Nigeria's crude oil production reaching 1.6mbpd by the first quarter of 2023.

Ahmed hinged the government's expectation on efforts made by stakeholders to improve oil production infrastructure and reduce oil theft.

Nigeria’s oil output as published by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) was 1.25mbpd in January and 1.3mbpd in February, but the volume produced for March came close to 1.6mbp.

The Nigerian National Petroleum Company Limited (NNPC) had

on several occasions disclosed that Nigeria's oil production had climbed to 1.6mbpd, with the first of such disclosures coming early December 2022 from the Chief Investment Officer of the NNPC Upstream Investment Management Services (NUIMS), Mr. Bala Wunti, at an industry event in Uyo, Akwa Ibom State.

Also in February, at a meeting of stakeholders in the oil and gas industry in Abuja, the Group Chief Executive Officer of NNPC, Mallam Mele Kyari, had confirmed that the country’s oil production had risen to 1.67 million barrels per day, some millions short of the 1.8 million bpd quota allocated to Nigeria by OPEC. Kyari had said the ‘rectangular’ security approach employed by the company was already working, adding that implementation of the ‘Detect, Deter, Destroy’ and Recover (3D strategy) has been a game changer in the fight against crude oil theft and vandalism.

The Reuters survey tracked supply to the market based on shipping data provided by external sources, Refinitiv Eikon flows data, information from companies that track flows such as Petro-Logistics and Kpler, and information provided by sources at oil companies, OPEC, and consultants.

The survey established that the increased output level by Nigeria, Africa's largest oil and gas producer was recorded, despite a 70,000 bpd drop in the OPEC oil output in March, which was attributed to oilfield maintenance in Angola and a halt in some of Iraq’s exports.

Further revelation showed that OPEC’s output was down more than 700,000 bpd from September, and 70,000 bpd from February 2023 output level.

The largest drop of 100,000 bpd was in Angola and was due to a small export programme and field maintenance on the Dalia stream, resulting to exports hitting a multi-

month low on some estimates.

The second-biggest drop came from Iraq, where companies have reduced output in the northern Kurdistan region following a halt to the export pipeline penultimate weekend.

Higher exports from southern Iraq limited the decline, the survey found, adding that OPEC’s output was significantly undershooting the targeted amount by 930,000 bpd because many producers – notably Nigeria and Angola – lack the capacity to pump at the agreed levels.

OPEC’s Gulf producers, Saudi Arabia, Kuwait and the United Arab Emirates maintained high compliance with their targets under the OPEC+ agreement, the survey revealed.

Meanwhile, a petroleum expert and Publisher of Oil+Gas Report, Mr. Toyin Akinosho has advised the incoming administration to as a matter of priority emplace an independent and powerful regulator for the Nigerian oil and gas industry,

especially the upstream subsector in order to ensure compliance to operational rules as well as to increase foreign exchange earnings to the country.

Akinosho added that such regulator whether it is the NUPRC or the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) should be made to possess the same kind of powers and independence like the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) to be able to regulate the oil sector well without undue interference by external forces.

In an exclusive chat with THISDAY, Akinosho explained that robust regulation was needed in the oil and gas industry to ensure that operating companies operate in accordance with the rules.

He said such regulator must be able to take decisions without undue influence from the minister as obtained in the CBN and the NCC

in their running of the banking and telecoms sectors, respectively.

"For me, it's just that one word that we say every time -regulation, we need an independent regulator who does not look behind his back.

Just regulate all these companies properly, let people operate how they should, let there be openness. In everything that they do, let it be fair.

"Once you get a regulator that works, every other thing will follow accordingly. The thing is, if the regulator is weak, which the defunct Department of Petroleum Resources (DPR) was, because the DPR was some kind of an agent of the minister and when a certain DPR regulator had the powers to do a bid round, you saw what he did," Akinosho said.

He maintained that regulator was very key, pointing out that all the evacuation issues Nigeria had that led to rampant crude oil theft was a function of regulation and the kind of regulator in place.

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NEWS

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

SIGNING CEREMONY FOR LAGOS FREE ZONE COMPANY 20 YEARS SERIES 111BOND… L - R: Chief Executive, Stanbic IBTC Capital, Funso Akere; Chief Executive Officer, InfraCredit, Chinua Azubike; Chief Executive Officer, Lagos Free Zone Company (LFZC, Dinesh Rathi; Head, Debt Capital Markets, Stanbic IBTC Capital, ’Tokunbo Aturamu; Chief Financial Officer, LFZC, Mr. Ashish Khemka; at the signing ceremony of the LFZC Funding SPV PLC ₦17.5 billion 15.25% 20-year Series 3 bond issuance under its upscaled ₦61 billion bond issuance programme held in Lagos…yesterday

Governors Meet EFCC, CBN, ICPC, Others over Management of Security Votes Chuks Okocha in Abuja The 36 state governors in the country are expected to meet with economic and financial

agencies in the country tomorrow, over the management of their states’ security votes.

The agencies expected at the meeting include the

Nami Renews Plea for Fair International Tax Practices

James Emejo in Abuja

The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami, yesterday challenged the global tax community to forge an inclusive, equitable, fair and universally beneficial international tax system towards the attainment of the 2030 Sustainable Development Goals (SDGs).

Making the call on behalf of the country, Mr. Muhammad Nami, the Executive Chairman of the Federal Inland Revenue Service (FIRS) stated this while speaking at the Economic and Social Council (ECOSOC) Special Meeting on International Cooperation in Tax Matters at the UN United Headquarters, New York.

He expressed concerns of the Nigerian delegation about the global minimum tax as put forward by the OECD - Inclusive Framework.

The FIRS boss expressed reservations over the low rate and the way the framework was negotiated to benefit the home countries of multinationals.

He said, “My delegation is concerned about the global minimum tax because of its low rate and the way it was negotiated to benefit the home countries of multinationals, which are mostly in developed countries.

He recommended a UN instrument on tax cooperation to build on that work that had already been done in a way that guarantees fairness and equity.

He further stressed the need for an, “enforcement mechanisms for a binding multilateral tax convention, noting the challenges that developing and developed countries have experienced with investment treaty arbitration.”

Nami also pointed out that the capacity of countries to attain the 2030 Sustainable Development Goals were hinged on having the requisite funding in delivering critical public

services towards the SDGs. He harped on the importance of enhancing domestic resource mobilisation among member states to address their economic challenges.

Nami said, “The promotion of inclusive international tax cooperation remains a critical subject in the attainment of the 2030 Sustainable Development Goals (SDGs).

“Today a global taxation regime under the UN is urgently needed to enable states effectively mobilise domestic revenues to address the multiple economic and other crises impacting our efforts in the achievement of the 2030 SDGs." In a statement issued by his Special Assistant on Media and Communication, Johannes Oluwatobi Wojuola, Nami said, “Domestic public resource mobilisation is critical to this effort because of its vital role in delivering critical public services and advancing even progress towards the sustainable development agenda.

“Developing countries are taking seriously the challenge of financing sustainable development.

My delegation underscores the importance of enhancing domestic resource mobilisation, good governance and investment in our common African goal embodied in the Agenda 2063, and in the global goals spelled out in the 2030 Agenda."

He, however, commended African countries for strengthening their participation in international tax cooperation efforts, as well as the strides they have made in closing loopholes and countering base erosion and profit shifting.

Nonetheless, he noted that while much good work had been done, much more remained to be accomplished towards a fully inclusive process, both domestically and internationally and ensuring that all taxpayers are making their fair contributions.

Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and other related offences Commission (ICPC), the Federal Inland Revenue Service(FIRS) and the Central Bank of Nigeria (CBN).

Security vote is a monthly allocation given to state governments for improved security.

The Director, Media and Public Affairs, Nigeria Governors Forum (NGF), Abdulrazaque Bello-Barkindo, disclosed this in a statement.

He said the meeting was, "with a view to ironing out

thorny issues surrounding their states’ security votes, towards establishing a better option of managing the funds."

The meeting, according to an invitation issued by the Director General of the Nigeria Governors’ Forum, Mr. Asishana Bayo Okauru, would be virtual, to ensure full attendance by all the relevant officers in the matter.

The NGF stated that the meeting would also consider deepening the management and expansion of the cashless policy which took effect from the time of the redesigning of the naira last year, to further the financial inclusion of all citizens

in the ensuing scheme of things, going forward.

He said the meeting was called at the instance of the Nigeria Financial Intelligence Unit (NFIU), in its letter of March 30, which was addressed to the Chairman of the NGF and signed by the NFIU Director, Modibbo Hamman Tukur.

He explained that the letter stated that apart from the facilities for national financial inclusion, “it is also putting on the table the uniform development and cooperation on the national addressing and post code project, which will put Nigeria on the same pedestal as all advanced

countries across the globe.”

Also on the agenda, “is a consensus on harmonising and updating the national tax collection and business entry standards and its requirements to help respond to the FATF and the EU grey listing in which Nigeria appeared.”

The statement noted that all governors had been advised to prioritise the meeting, “as its contents had been discussed at the NGF emergency meeting of Thursday 30th March, where it was unanimously agreed that a meeting with the afore-mentioned agencies was imperative.”

Kale: Nigerians Must Give Accurate Information to Aid Govt Planning Oluchi Chibuzor The former Chief Executive Officer of the National Bureau of Statistics (NBS), Dr. Yemi Kale, has stressed the need for Nigerians to always give accurate information to government data gathering agencies.

This, he said was key in government planning, adding that it would aid national development.

Kale who stated this recently, while speaking at ‘Experiencing HR,’ annual conference 2023 event in Lagos, that was organised by the Nigerian Women in Public Relations, said when it comes to data, accuracy and professionalism remains sacrosanct.

Also commenting on educating the public on the need to give accurate information, Kale who is presently the Chief Economist at KPMG Nigeria, noted that openness by the public towards data collecting agencies was very important.

According to him, “Whatever you tell me, I will take and there is no way I can tell you are telling the truth or not; but when you give the wrong information it affects the data I give to the government and the government

will now plan policies based on the data you gave them.

“So, I think it is best to give honest information, accurate and transparent information and to cooperate with data collecting agencies because the objective of what they are doing is to get information that can assist members of the public."

The newly appointed KPMG Partner, while narrating how he was able to transform the NBS from a low morale institution to a leading data bank government agency spanning 11 years, acknowledged that understanding public perception and reputation were crucial to data gathering.

As the lead speaker of the event with the theme, “Beyond Crisis: PR for Perception Management in Business and Public Affairs", he said the NBS under his watch was able to improve public perception of the bureau through technology.

“In getting good data, you are going to step on toes. Whether we like it or not, Nigeria is a developing country. Majority of the data could be negative that is why we are developing. And if you insist that you are not going to doctor any information

you are going to step on toes.

But the perception has changed so strongly that it was difficult for those that are angry to do anything about it, they felt we had strong public support.

“When you adopt technology, it is very difficult for errors to be made and that is exactly what we did with the NBS using computer-assisted internet devices that capture the coordinates of where a data is collected so that nobody can sit down under a mango tree and start making up something.

“I think the best way to improve data accuracy, whether it is population census or socioeconomic data, is technology.

Once technology is involved it is very difficult to manipulate.

But when it is manually done, where people are just writing and doing things, then it becomes very easy for people to tamper with it. It is a peculiar situation concerning our country.”

However, commenting on the enormous amount the country would be spending on the forthcoming census and its difficult terrain, Kale, said “When I started I had N100 million to gather data for the entire Nigeria,

but I think today they are probably N4 billion and it is because they were seeing that the image of the office was changing."

He stressed that data gathering was expensive, saying, “in Nigeria, the terrain is very difficult. Until we have a proper system where there is an automatic register of all Nigerians so that you don't have to be going to them all the time it will curtail expenses."

Declaring the event open, the Convener, Nigerian Women in PR, Tolulope Olorundero, said the event was a historical moment for the development of PR in Nigeria, and the elevation of the practice in Nigeria in the global industry.

“It is humbling to conceptualise an event of this magnitude, articulate it and get the nod from our esteemed speakers, share the information publicly and have 150+ physical participants and 300+ virtual delegates," Olorundero added.

Commenting on the need for organisations to have a good reputation, the Corporate Affairs and Legal Director, International Breweries, Temitope Oguntokun, said positive perception always leads to improved outcomes.

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UGWUANYI CELEBRATED FOR ENTRENCHING PEACE, SECURITY IN ENUGU… L-R: Chairman of Udi Local Government Area, Hon. Philip Okoh; Auxiliary Bishop of Catholic Diocese of Enugu, Most Rev. Dr. Ernest Obodo; Deputy Governor of Enugu State, Mrs. Cecilia Ezeilo; Governor Ifeanyi Ugwuanyi; Victor Ogakwu; former Deputy Governor of the State, Hon. Sunday Onyebuchi, and Commissioner for Chieftaincy Affairs, Dr. Charles Egumgbe, when leaders of Agbaja celebrated Ugwuanyi for entrenching peace, security, good governance and unity in the state, at Udi Town…yesterday

Moghalu Advocates New Approaches in Resolving Bank Failures in Nigeria Following the recent failures of Silicon Valley Bank and Signature Bank in the United States of America, a former Deputy Governor of the Central Bank of Nigeria (CBN), Prof. Kingsley Moghalu, has recommended the adoption of the living wills concept in resolving bank failures in Nigeria.

Another approach proposed

by Moghalu was that the regulators should encourage bigger and more successful banks to buy up weak banks as a first or second line of response to bank failures, without prejudice to the roles of the CBN/Nigeria Deposit Insurance Corporation (NDIC).

A living will for a bank

or other financial institution denotes a contingency plan that is on the shelf in case that entity becomes insolvent and needs to be closed.

In a series of Tweets, the presidential aspirant of the African Democratic Congress (ADC) in 2022, noted that the recent failures of Silicon Valley Bank and Signature Bank in the

United States, and the jitters over possible banking contagion they had generated took his mind back to the work they did under the Lamido Sanusiled CBN to establish financial stability in Nigeria after the global financial crisis.

“We should deploy more the concept of "living wills" by banks.

This is a plan for how a bank

Olu of Warri Lauds Sahara Group for Ajoki’s 24-hour Power Supply The Olu of Warri, His Majesty, Ogiame Atuwatse III has commended energy and infrastructure conglomerate, Sahara Group for accelerating sustainable development in Ajoki community in Edo State through the delivery of 24-hour power supply.

Speaking while receiving a Sahara Group delegation in his palace, the Olu, was quoted in a statement obtained yesterday, said Sahara’s track record showed the organisation has consistently displayed exemplary community relations and implemented many projects with outstanding social impact across the Niger Delta.

“It is heartwarming to see the opportunities that are now available as a result of constant power in Ajoki. Sahara Group deserves to be commended for this feat and for leading by example working harmoniously with host communities of oil and gas companies. I am pleased that this is 24 hours of clean power to the community,” he noted.

The Olu added: “This is something that must be lauded and celebrated. This kingdom is more gas-rich than oil-rich, and if we're able take to this Gasto-Power to strategic locations across this kingdom, I believe this kingdom will become the new centre for commerce and industry.”

Chief Operating Officer, Asharami Energy, a Sahara Group Upstream Company,

Henry Menkiti, told the Olu that the courtesy visit to the palace was to provide updates on its operations and pay homage to the Olu for the support of the good people of the kingdom.

“It is quite an honour for us to be here today to formally express our appreciation to the Palace and to share the good news of our latest project in Ajoki.

Delivering uninterrupted, clean power to Ajoki is an outstanding achievement for Sahara which is already transforming the lives of the people,” he said.

Menkiti said Sahara Group was also working with local contractors from the Ajoki community to improve their competence and capacity to be globally competitive.

“Beyond hiring the contractors from the community, we've also provided training programs where they are taught how to make bids professionally using best practices and computer software,” he added.

Speaking on the Ajoki electrification project, Director Governance and Sustainability Sahara Group, Ejiro Gray said it would serve as a template for the energy conglomerate as it continues to seek ways of enhancing sustainable development in its host communities.

“We’re essentially taking a resource that is available in the community and using it to transform the community with attendant endless possibilities. As

foremost promoters of access to clean energy in Africa, we are delighted with this achievement and remain grateful to our host communities for the opportunity to serve and make a difference,” she said.

Babatomiwa Adesida, Head Stakeholder Relations at Asharami Energy said the Gasto-Power project has the potential to generate 1MW of constant clean energy for the people of Ajoki, directly impacting tens of thousands of beneficiaries and unleashing more prospects

for socio-economic growth in Ajoki and its environs.

He also mentioned that Sahara has built schools, teachers quarters and awarded scholarship to deserving students in the communities.”

The construction of a 17.5km road by Sahara and other partners is ongoing from Ikpako to Ajoki. When completed, it will serve as a backbone for tourism, trade, and accelerated development in Ajoki, Ikpako and neighbouring communities,” he added.

can be decently buried if it fails, designed by the bank itself and approved by CBN as the banking regulator. Another approach is that we should encourage bigger and more successful banks to buy up weak banks as a first or second line of response to bank failures, without prejudice to the roles of CBN/NDIC,” he wrote.

He pointed out that as Deputy Governor in charge of Financial Stability, it was his task to supervise the execution of many successful reforms.

Moghalu explained: “We took the position that no bank would fail, and no depositor would lose one kobo of their deposits.

The CBN injected more than $4 billion to stabilise about eight failing banks, sacked and replaced their managements, and midwifed the creation of the Asset Management Corporation of Nigeria (AMCON) to buy up the toxic assets of these banks and recapitalise them.

“All of this was good for the time, and the apex bank has since followed the principle of not allowing bank failures.

But I'm wondering if, going forward, we might not want to think of an approach to financial stability that does not place the responsibility for resolving bank

failures solely on the CBN, the NDIC and AMCON through bailouts, creation bridge banks and recapitalisation. Banks are businesses created and run for profit by individuals. Must we in Nigeria continue to privatise their profits but socialise their losses? I don't think so.”

“The bottom line is to protect depositors of course. America's Signature Bank (no connection to the bank of the same name in Nigeria) was bought out by New York Community Bancorp which acquired its $34 billion of deposits. SVB was acquired

by First Citizens Bank three weeks after it was shut down

by America's banking regulators.

“The CBN recently sold Polaris Bank (former Skye Bank) to private investors. But this was about 4 years after the bank's failure. This is too long. Compare that with three weeks. We should be able to do such a sale within three to six months maximum.

“We need to avoid a framework that leads commercial operators to believe the central bank and its associated agencies are an ever-present Father Christmas.

This is called moral hazard. It encourages risky behaviour by economic actors.”

Swiss Prosecutor Probes Credit Suisse Takeover Switzerland's Federal Prosecutor has opened an investigation into the state-backed takeover of Credit Suisse by UBS Group, the office of the attorney general said yesterday.

The prosecutor, based in the Swiss capital Bern, is looking into potential breaches of the country's criminal law by government officials, regulators and executives at the two banks, which agreed on an emergency merger last month to avoid a meltdown in the country's financial system, according to Reuters.

There were "numerous aspects of events around Credit Suisse" that warranted investigation and which needed to be analysed to "identify any criminal offences that could fall within the competence of the (prosecutor),"

it said in a statement.

"The Office of the Attorney General wants to proactively fulfil its mandate and responsibility to contribute to a clean Swiss financial centre and has set up a monitoring system so that it can take action immediately on any issues that fall within its area of responsibility," it added.

It gave no indication of any specific aspects of the merger agreement it might look into or how long the investigation might last.

Both UBS and Credit Suisse declined to comment.

"It's astonishing that the prosecutor would comment," said Mark Pieth, professor emeritus of the University of Basel, where he has taught criminal law and criminology.

But the rescue "is so out of the ordinary that they had to say something."

Pieth said the prosecutor could be probing breaches of secrecy provisions by officials, or the trading on inside information, adding that the wiping out of some bondholders as planned under the deal is also problematic.

In the deal announced on March 19, and orchestrated by the Swiss government, the central bank and market regulator, UBS would acquire rival Credit Suisse for 3 billion Swiss francs ($3.3 billion).

The bank is trying to close the deal by as soon as the end of April, sources have told Reuters.

The Swiss public and politicians have voiced concerns about the level of state support,

with nearly 260 billion Swiss francs in liquidity and guarantees offered by the government and Swiss National Bank.

A poll of Swiss economists found that nearly half think the takeover of Credit Suisse was not the best solution, and warned that the situation had dented Switzerland's reputation as a banking centre.

The takeover, which was also designed to help secure financial stability globally during a period of turmoil, has sparked concern among critics about the size of the merged bank, with $1.6 trillion in assets and more than 120,000 staff worldwide.

Up to 30 per cent of staff could lose their jobs due to the takeover, according to an unnamed senior UBS manager quoted in Swiss media.

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MONDAY APRIL 3, 2023 • T H I S D AY

T H I S D AY ˾ MONDAY APRIL 3, 2023

19 Acting Group Politics Editor DEJI ELUMOYE

POLITICS

Email: deji.elumoye@thisdaylive.com 08033025611 SMS ONLY

M O N D AY D I S C O U R S E Much Ado About 10th Assembly’s Senate Presidency The delay in the release of zoning arrangements for the various leadership positions in the 10th Senate by the All Progressives Congress is creating tension as aspirants battle allegations of corruption, bribery and religious sentiments. Sunday Aborisade reports.

Jibrin

R

anking Senators eyeing the office of the Senate President ahead of the inauguration of the 10th National Assembly in June, 2023, have kick started their campaign activities.

Three of them namely Orji Uzor Kalu (South East), Barau Jibrin (North-West), Sani Musa (North Central) and Senator-elect, Dave Umahi (South-East) have formally declared their interest.

Other aspirants who had yet to formally declare their interest are Senators-elect Abdulaziz Yari (North-West), Godswill Akpabio (South-South), and Adams Oshiomhole (South-South).

There is also unconfirmed report that the President of the Senate, Ahmad Lawan (NorthEast) is aspiring to lead the 10th Senate with an understanding that he would stabilise the polity with his same-page policy he is currently adopting in the 9th Senate.

The National Chairman of the APC, Senator Abdullahi Adamu, promised penultimate week that the National Working Committee of the party would release the zoning arrangements for the leadership positions in the federal parliament after the Governorship and House of Assembly elections.

However, sources at the party’s national secretariat have hinted that the zoning arrangements would not be done until the President-Elect, Asiwaju Bola Tinubu, return from his current trip abroad.

Pending the decision of the APC leadership on the matter, allegations of financial impropriety and bribery have continued to trail some of the aspirants.

For instance, a non-governmental organisation, the Patriots for the Advancement of Peace and Social Development (PAPS), has urged the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC), to reopen the corruption cases already established against Yari, a former governor of Zamfara State. Chairman of PAPS, Dr. Sani Abdulahi Shinkafi, who made the call in a statement he issued in Abuja at the weekend said series of corruption cases established against Yari were mind-blowing and should not be swept under the carpet because he is one of the aspirants for the position of the Senate President in the 10th National Assembly.

The group alleged that series of funds allegedly misappropriated by the former governor who had been elected into the 10th Senate, amounted to about N288.4 billion which belonged to Zamfara State.

PAPS further alleged that Yari, who is also aspiring to be Senate President, left Zamfara State with huge indebtedness.

The statement read, “A Federal High Court in Abuja, which had ordered the final forfeiture of various amounts estimated at about N700million linked to Yari has vindicated our group’s calls for the arrest and prosecution of the former Governor.

“The ICPC had claimed that the funds were kept in accounts in two new generation banks

by Yari, using his two companies – Kayatawa

Akpabio

Nigeria Limited and B.T. Oil and Gas Nigeria Limited” Similarly, the EFCC has also summoned the immediate past Minister of Niger Delta Affairs, Senator Godswill Akpabio, for alleged corruption.

Though the details of the corruption allegations were not made public, it was learnt that Akpabio has been under the investigation of the antigraft agency for some time.

In 2020, the EFCC said it was investigating corruption allegations against Akpabio as Minister of Niger Delta Affairs.

There had also been allegations of N40 billion fraud perpetrated in the Niger Delta Development Commission, an agency under the ministry once headed by Akpabio.

The Senate and the House of Representatives in 2020 resolved to probe the alleged N40 billion financial recklessness of the Interim Management Committee (IMC) of the NDDC in the previous three months.

Also, there were allegations of over N86 billion contract scam involving the senator-elect and the former Acting Managing Director of the NDDC, Prof.

Kemebradikumo Pondei, which the EFCC is currently investigating.

The anti-graft agency had in the past, arrested Akpabio over alleged misappropriation of N108.1billion Akwa Ibom funds.

Another dangerous development among the aspirants is the bribery allegation involving one of them from the North West geopolitical zone who was said to have shared dollars to both newly elected Senators and the ranking ones.

A civil rights group in Nigeria, the Campaign for Democracy (CD), had

Musa

Kalu

last week, urged the EFCC and the ICPC to beam their searchlights on the National Assembly members.

The CD, in a statement by its Secretary General, Pastor Ifeanyi Odili, specifically asked the antigraft agencies to thoroughly probe the alleged bribery scandal involving a Senator-elect and 70 newly elected Senators for the 10th Senate.

The media had penultimate week, reported a meeting between the Senator-elect and elected Senators when the sum of $10,000 was allegedly shared to each of the 70 senators-elect in attendance.

The CD said: “We have it through our impeccable source that some ranking Senators have started using their ill-gotten wealth to woo the returning Senators and the new members who have just received their certificates of return from the Independent National Electoral Commission (INEC) last week with dollars and other hard currencies in order to win their votes when electing principal officers of the National Assembly.”

Despite the outcry by the civil rights group, the same Senator - elect was also said to have shared $20,000 each to both new and returning senators last week.

It was gathered that a newly elected Senator and another ranking one, both from the North-West geo-political zone, handled the latest sharing.

However, the current speeches of the aspirants revealed that there could be a repeat of the Eighth Senate experience when Senator Bukola Saraki ignored the zoning arrangements put in place by the APC leadership to contest the Senate Presidency and won.

For instance, the Chief Whip of the Senate, Kalu while addressing journalists penultimate week, said he was in the race on the understanding that the leadership of the party would be magnanimous enough to zone the office of the Senate President not only to the South-East geopolitical zone, but to his Igbere, home town.

The two-term governor of Abia State also

said he deserved to be Senate President being a Christian because the President-Elect and the Vice President -Elect are Muslims.

Kalu told reporters that it was his turn to become Senate President being the only ranking APC lawmaker from the South East geopolitical zone.

He said, “If I’m elected Senate President, I will be team Nigeria. I’m going to work for every corner of Nigeria. I schooled in Maiduguri, Borno State. I started my business in Lagos and spread it across all state capitals. My first name will be team Nigeria, my last name will be team Nigeria.

Kalu said he would not be comfortable having a Muslim as a Senate President in the 10th National Assembly.

His words: “I will not be comfortable with a Muslim Senate President because this is a secular state.”

However, aspirants from the North have countered Kalu and warned him against introducing religion into the parliament.

They argued that the parliament rules which guides the election of its presiding officers and other legislative activities of lawmakers, only recognises ranking.

The current Chairman, Senate Committee on Appropriation, Jibrin, had boasted that he was the most qualified for the position being the most ranking and experienced among other senators contesting the position with him.

Jibrin has been in the National Assembly since 1999 and in the Senate since 2015.

The Senator said, “I intend to seek to be the President of the 10th Senate. In the next few days, I will start my campaign and make a formal declaration”.

He noted that the position of the Senate president is that of experience and competence, not sentiments.

According to him, “Legislature is a distinct arm of government that doesn’t work based on sentiments, it works on your ability to get the job done. It is the tradition all over the world and it is also stated there in our rule book and the rules are drafted from our constitutions.”

He explained that the Senate rule gives credence to seniority and experience above sentiments.

His words: “It is stated there in our standing rules that aspirations of elections for the seat of the Senate Presidency shall be in accordance with ranking.

“Among those who are running for the seat of the Senate Presidency, I am the most ranked senator.

“So, it’s constitutional and among those who are showing their intentions to run for the Senate Presidency, I am the most experienced.

“The issue is that of competence. You need to be grounded, in the residue of the legislature before you become the Senate Presidency. Do you now play against competence based on sentiments.

Bamidele, who is the Chairman, Senate Committee on Judiciary, Human Rights and Legal Matters, said as the inauguration of the members of the National Assembly draws close the criteria for the emergence of the principal officers should be based on competence and experience rather than on religious or regional sentiments.

According to him: “These are the days that should be more important as we try to see those who could lead the 10th National Assembly rather than these issues being presented more as tribal or religious right of individuals or communities than the country. This is in trying to help stabilise and in trying to help reposition the debate so that the real issues are not lost.”

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

20

T H I S D AY ˾ DAY APRIL 3, 2023

FEATURES

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

In Women's Month, Nasarawa Women March for Freedom Igbawase Ukumba writes whilst the world commemorated Women's Month in March, hundreds of women staged a seven-day march in major towns across Nasarawa State to peacefully protest the results of the recently held governorship election in the state

Nasarawa women during their march and protest

L

ess than 24 hours after the Returning Officer for the Nasarawa State Governorship Election, Professor Tanko Ishaya, returned the incumbent Governor Abdullahi Sule, than hundreds of women across the state staged a peaceful protest, demanding for justice on the declaration of the governor as winner of the March 18, 2013 Gubernatorial election.

The women, who came out in their numbers and dressed in black attires, while some preferred nudity, were seen carrying placards with various inscriptions such as: "INEC Should Give Us Back Our Mandate." "Let Our Votes Count.

Ombugadu Won." "We Say No To Election Manipulation; Ombugadu Won." Among many other inscriptions.

Leader of the women group, Mrs. Stella Oboshi, while speaking on behalf of the other women during the peaceful protest at the Lafia office of the Independent National Electoral Commission (INEC), said the purpose of the protest was to channel their grievances over the election results declared by Prof. Tanko Ishaya, the Vice Chancellor of the University of Jos. According to Mrs. Oboshi, "INEC should know that we are suffering in this country, especially in Nasarawa State. We are not here on political ground, but we want justice to prevail. Leadership comes from God. He gives to a person at a time he wishes. But some people don't want to wait on God, they want to do otherwise."

She further alleged that INEC had gone ahead to announce a winner of the state governorship election, despite that there was bone of contention in the results that emanated from Gayam and Ciroma electoral wards of Lafia Local Government Area of the state.

"The governorship election and that of the state House of Assembly were conducted same day, same time and with same election materials.

But the governorship election was announced; and that of the House of Assembly has not been announced up till this moment, because it was declared inconclusive.

"If Gayam and Ciroma electoral wards results from Lafia LGA were included in the results that INEC announced for the governorship election, but the Assembly elections were inconclusive in the same electoral wards, then INEC should also declare the governorship election inconclusive so that we can start afresh," she insisted.

In Akwanga, the Local Goverment of the state governor, Abdullahi Sule, hundreds of women also thronged out and protested the outcome of the governorship election.

In the same vein, women in Karu, The gateway to the Federal Capital Territory (FCT), took over the federal highways causing gridlock to motorists plying the route. The women were seen nude marching along the highways.

Meantime, checks by THISDAY learnt that on March 20, 2023, the INEC declared Governor Abdullahi Sule as winner of the March 18 governorship election in Nasarawa State. This was even as the incumbent governor and his deputy, Emmanuel Akabe, had both lost their Akwanga and Doma Local Government Areas respectively to the opposition Peoples Democratic Party (PDP).

However, Governor Sule won in seven of the 13 Local Government Areas; scoring a total of 347,209 votes. Whereas, his closest rival, Dr. David Ombugadu of the PDP, scored 283,016 votes during the state gubernatorial poll. The winning margin between Abdullahi Sule of the APC and David Ombugadu of the PDP was 33,608 votes.

Consequently, the incumbent Governor Sule was declared re-elected by the State Returning Officer and Vice Chancellor of the University

Gov Sule

of Jos, Professor Tanko Ishaya.

Sule won in Keana, Awe, Lafia, Wamba, Keffi, Nasarawa and Toto Local Government Areas in the results declared by the INEC Returning Officer. His closest competitor, Dr. David Ombugadu of the PDP won in six Local Government Areas of Akwanga, Doma, Obi, Nasarawa Eggon, Kokona and Karu.

But, the hundreds of women went on wild protest across the state accusing the Returning Officer, Prof.

Tanko Ishaya, of shortchanging the real winner.

Consequently, the peaceful protest spread to Akwanga and Karu municipal areas where nude aged women led the protest match. They stormed the streets of Akwanga, headquarters of Governor Abdullahi Sule's council area, protesting the outcome of the state governorship poll.

In the same vein, the women in Karu, the gateway to the Federal Capital Territory (FCT), took over the federal highways causing gridlock to motorists. The aged women were seen partly nude marching along highway.

In Karu, a group - Ombugadu Support Coalition commenced a seven-day peaceful protest. The protesters, who went round New Nyanya axis of Karu metropolis community, had placards with various inscriptions such as: "We Say No to Election Manipulation". "INEC Has Compromised The Electoral Process.

Restore Our Democracy." "Save our democracy in Nasarawa State." among others.

Ban by Police Barely few hours after the Karu Ombugadu Support Coalition declared a seven-day peaceful protests against the outcome of the Governorship election in the state, that authorities of the Nasarawa State Police Command placed ban on all forms of protest in the state.

The police command, however, justified that it has taken the ban decision in order to prevent breakdown of law and order and as well to sustain the peace currently being enjoyed in the state; as it said the intelligent report on security could no longer sustain any form of protest in the state.

The Nasarawa State Commissioner of Police, Maiyaki Baba, announced the ban in a statement issued by the state Police Command Public Relations Officer, DSP Ramhan Nansel.

"The Nasarawa State Police Command wishes to inform the general public that all forms of protest have been banned throughout the state. Therefore, all proposed protests under any guise are hereby prohibited. The police command took this decision in order to prevent the breakdown of law and order and to sustain the peace currently being enjoyed in the state; as the intelligent report on security can no longer sustain any form of protest in the state," the statement said.

Consequently, parents and guardians were advised by the Police to ensure that their children and wards did not violate the order, as anyone caught shall be arrested and prosecuted accordingly.

Defiance However, hundreds of same aged women from across the 13 Local Government Areas of the state defied the police order banning protest of all forms and staged a peaceful protest again in Lafia, the state capital. They were insisting on review of the recently conducted governorship election in the state.

INEC should know that we are suffering in this country, especially in Nasarawa State. We are not here on political ground, but we want justice to prevail. Leadership comes from God. He gives to a person at a time he wishes. But some people don't want to wait on God, they want to do otherwise

THISDAY monitored the peaceful protest and observed that the women were partly nude again, as they sang emotional songs in Hausa language and carried with them leaves while protesting.

In a chat with THISDAY during the protest which was held at the Nasarawa PDP secretariat in Lafia, the Women Leader, Mrs. Stella Oboshi, claimed that the PDP's governorship candidate, David Ombugadu, won the state governorship poll. She insisted that it wasn't the incumbent Governor Abdullahi Sule, as announced by the Independent National Electoral Commission (INEC).

While calling on INEC to do the needful by reviewing the election results and announce the actual winner of the election, she stated that the aggrieved women will continue to peacefully demonstrate if their demands were not met.

Oboshi said: "The reason of our being here is that we are protesting the election that was rigged. They rigged us in the election, and as women in the state, we are not happy with what has happened in Nasarawa State. Peaceful demonstration in politics is allowed because there is freedom of speech. As you can see, since Tuesday when we started protesting, we have not harmed, insulted or destroyed anyone or property."

"Our demand is that INEC should review the results collated from across the state and announce the actual winner of the governorship election," she concluded.

Contrary Opinion Nevertheless, a League of Concerned Professionals in Plateau State has exonerated the Returning Officer for the 2023 general elections in Nasarawa State, Prof. Ishaya Tanko, of all allegations leveled against him in Nasarawa State.

At a press briefing in Jos, the Plateau State capital, the league under the leadership of Barr.

Chesil Drenkat, described the allegations as baseless, noting that Prof. Tanko is a man of integrity, patriotic, forthright, God fearing and a perfect gentleman that cannot be bought to rig election as claimed in some quarters.

The group, therefore, explained that the role played by the Professor as a Returning Officer was to await the final result collated and certified at Unit Level in form EC8a, at Ward Level in form EC8b, at L.G.A Level in form EC8c, before finally getting to him for final collation in form EC8d.

This was even as the professionals maintained that they were mindful of the fact that losers always have inflammable tendencies of misdirecting reason(s) for their losses and more often transfer of their aggression.

Hitherto, they stated categorically that blaming Prof. Ishaya over such unfounded and unsubstantiated claims of inducement and corrupt practices on the outcome of the Nassarawa State Gubernatorial Election was one of such misguided, misdirected claims by very bad losers in an election that was particularly adjudged to be very competitive.

Nevertheless, the professionals advised the aggrieved persons to find areas of electoral infractions/fraud, none conformity to the Electoral Act, 2022/Guidelines that will substantiate and proof their claims at Election Petition Tribunals, instead of seeking to find fault in the role assigned to Prof. Tanko Ishaya as the Nasarawa State Returning Officer.

“We challenge any person, party or candidate to fault the role played by Prof. Tanko in this regard. In all the foregoing, the political parties had their agents who were bound to be vigilant and alive to their responsibilities at all stages of the collations," the group maintained.

T H I S D AY • MONDAY, APRIL 3, 2023

21

This Week In Tech 08097710984

nosakhare.alekhuogie@thisdaylive.com

Nosa

Alekhuogie

Arikawe: More Players Needed in Fast-growing Agritech Space In this interview with Nosa Alekhuogie, the cofounder and Chief Technology Officer, ThriveAgric, Ayodeji Arikawe sheds light on how agriculture is leveraging technology and their journey so far Can you tell us how ThriveAgric works? hriveAgric leverages technology to collaborate with smallholder farmers to ensure that Africa can feed itself and the world. In doing this, we facilitate access to financing, data-driven farming best practices, as well as access to premium markets upon harvest. We work with various funding institutions and premium offtakers in the value chain to ensure a seamless flow of this process and that there’s always food for all.

inputs to farmers. Inputs like seeds, fertilizers and crop protection products help them scale their production.

T

What are some of the biggest challenges ThriveAgric has faced so far, and how did it overcome them?

One of the biggest challenges we have been faced with is hiring the right talents to own different ends of the value chain. Also, getting the right financing for smallholder farmers is another major challenge, getting financial institutions to be willing to leverage our platform to provide loans to these farmers who contribute over 80 per cent of the food production in Africa. Significantly, the pandemic also posed a huge challenge to our operations. Food processors, who are our offtakers, reduced production as a safety mechanism to protect their staff and products during the pandemic. The effect of this decreased their demand size drastically, and our business operation was hampered. There was also reduced access to our farms due to logistics issues caused by the lockdown.

However, we were able to put together the right structures and brought on some new members to join our team, like our CFO and head of risk, both with supply chain experience, secured more institutional investors, and in less than six months, we had settled all obligations, built a stronger team and almost 5x our revenue.

What are your agric tech solution’s unique features or advantages compared to others?

Our Agriculture Operating System (AOS) is designed with an adequate credit scoring feature by which farmers are organised into clusters to guarantee themselves and monitor their progress. We can conduct a know-your-customer (KYC) and disburse loans to the farmers without any glitch whatsoever. The AOS works completely offline, which aids seamless use in underserved areas. Using this feature, we can conveniently map out their fields, collect geo-information on farmland, and provide data-driven advisory based on the information collected. This way, they are assured of better yield at the end of the farming season.

Also, through this technology, we ensure a smooth collection of loan repayment while the farmers can sell their farm produce to end users as well.

How do you collaborate with farmers, organisations, or communities to ensure the scalability and sustainability of your business?

We work with over 2,000 field extension agents who work directly with over 500,000 farmers in our network across various states in Nigeria. Using our flagship technology, they monitor all farming

What kind of technology and innovations does ThriveAgric use in its farming practices?

As I mentioned earlier, our technology solution is designed to work fully offline, and this is why we can access farmers and aid their work in remote areas with little or no internet connection. With that, farmers’ KYC are conducted for proper loan disbursement, mapping of farmers’ fields and the provision of the right advisory services based on their need. The innovation also provides a link between farmers and premium offtakers to purchase their farm produce upon harvest.

You were able to raise $56.4 million in seed funding in 2022. What have you been able to achieve with it so far?

With the $56.4 million debt funding in 2022, we were able to scale our operations across the twenty-six states where we have our presence in Nigeria, built our network of farmers to over 500,000 farmers and are still scaling to other African territories.

A ri kawe

“In over four years, ThriveAgric has built a network of 500,000 farmers and helped them scale their production of local foods. Our aim is to scale up to 1,000,000 farmers by the end of this year and 10 million farmers by 2027.

To achieve this, we have plans in place to expand to other territories in Africa and build a dedicated team of players in the ecosystem. stages to ensure adequate yield at the end of each farming season.

We also work with offtakers/FMCGs who buy these grains at premium prices, and this translates into better income and livelihood for the farmers.

In addition, we also provide adequate warehouse facilities in these various communities where grains are stored to ensure continuous supply to different food processing companies.

It is important to also mention that the agritech space is fast growing and more players need to come in to also drive this so we can mitigate the rising food shortage in Nigeria and Africa at large through local food production.

How do you plan to scale your business in the coming years, and what strategies do you have to achieve your goals?

In over four years, ThriveAgric has built a network of 500,000 farmers and helped them scale their production of local foods. Our aim is to scale up to 1,000,000 farmers by the end of this year and 10 million farmers by 2027. To achieve this, we have plans in place to expand to other territories in Africa and build a dedicated team of players in the ecosystem.

What do you think are the biggest opportunities and potential for agritech businesses in Nigeria?

Despite having over thirty million smallholder farmers, Africa spends hundreds of billions of dollars importing food. This is because these farmers lack adequate financing, tailored farming best practices and the right markets for their produce. ThriveAgric is therefore using technology to drive these areas and ensure that smallholder farmers What kind of financial support are adequately empowered to be able does ThriveAgric provide for to scale their yield to meet the food farmers in Nigeria? demand on the continent.

We provide loans in the form of

There is a hike in food prices. What are you doing in that regard?

ThriveAgric is building an Africa that feeds itself and the world by enabling farmers, through its proprietary technology, Agriculture Operating System (AOS) to access finance, data-driven advisory services, and premium market upon harvest. We are now working with over 500,000 farmers who have accessed over $150 million in credit and grow about 5 per cent of the grains consumed in Nigeria today.

With this support, they now have more yield. Take Nuhu Usman, one of our maize farmers in Kaduna state, Nigeria, for example - he has literally doubled his yield from 20 bags to 40 bags of top-quality fertilizer per hectare since he started working with us. More yield, more grains, as this increases production.

How does ThriveAgric support smallholder farmers in Nigeria?

We support smallholder farmers in Nigeria by solving three major challenges, which are access to finance, where we connect farmers with adequate input financing in the form of seeds, fertilisers and crop protection products to enable them to get the best yield. We also help in the aspect of getting access to a datadriven advisory. Aside from providing input, we also equip these farmers with best practices - insights into climate-smart agriculture, agronomy tips, etc.

Access to premium markets is also one of the biggest challenges farmers face, where there is a lack of adequate value for their yield. We connect them to offtakers who buy these grains at premium prices, thereby improving their lives. Our farmers have been able to give their children a better education and support their families with the aid we provide.

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opinion@thisdaylive.com

www.thisdaylive.com

For Nigeria to have a credible census, the infrastructure of a systemic population control must be on ground, writes ABIODUN KOMOLAFE

FUELLING HEALTHY RIVALRY AMONG THE STATES Jumoke Oduwole says PEBEC is creating an enabling business environment in Nigeria, writes BASHIR IBRAHIM HASSAN

See page 27

RACE FOR THE SENATE PRESIDENCY Godswill Akpabio is the best candidate for the position, reckons SULEIMAN ABUBAKAR

See page 27 EDITORIAL

THE OUTBREAK OF MENINGITIS

28

1

IS THE 2023 CENSUS NECESSARY? Nigeria is preparing for another round of population census rendezvous. Thanks be to God! But, if, at least, we must learn from past experiences, then, the primary question is: is the 2023 Census necessary?

If one may also ask, when was the last time 1LJHULD KHOG D FHQVXV DQG KRZ HͿHFWLYH have previous exercises been? Or, must we IXOÀO WKH ULWXDO RI SRSXODWLRQ KHDG FRXQW in Nigeria just for its sake?

From the look of things, one may safely conclude that the National Population Commission (NPC), the body saddled with conducting censuses in Nigeria, has become an association created for political considerations. Needless to repeat that LWV FHQVXV ÀJXUHV DUH XQUHOLDEOH EHFDXVH ZKDWHYHU ÀJXUHV ZH JHW DUH SROLWLFLVHG Since there are no other means of YDOLGDWLQJ WKH ÀJXUHV WKH\ DUH MXVW OHIW there. Not only that, since nobody uses WKH ÀJXUHV LW·V DOZD\V DQ H[HUFLVH LQ futility! Still, a huge sum of public funds is spent on the exercise with little or no EHQHÀWV 1RQHWKHOHVV HDFK WLPH D QDWLRQDO census is about to commence, those who are involved in it know vividly why they are into it; and they are always very enthusiastic about it. More often than not, it is for pecuniary conveniences, not because they love Nigeria or because the YHUDFLW\ RI WKH KHDGFRXQW ÀJXUHV PDWWHUV but, at least, the exercise will provide an avenue for some people to make money.

A credible demography deals with the geographical spread of the sample population. As of today, Nigeria hides the reality of the demographic structure of her population under mischievous headings. Sad that, whenever our university professors want to carry out research works, they rely on foreign LQVWLWXWLRQV WKRVH WKDW FRXOG DFWXDOO\ SD\ IRU LQIRUPHG ÀJXUHV DERXW 1LJHULD·V population; certainly not statistics sourced E\ 1LJHULDQV IRU UHOLDEOH VWDWLVWLFV 6R IDU so disheartening! The only constant and HDVLO\ UDWLÀHG WKLQJ DERXW FHQVXV LQ 1LJHULD is the estimated budget cost, not in any way about the accuracy or reliability of the FHQVXV ÀJXUHV RU WKH JHQHUDO DFFHSWDELOLW\ of the outcome of the exercise.

Arguably so, Nigeria is calling for a new census primarily because she has nothing LQ LWV GDWDEDVH WKDW·V FORVH WR DQ DFFHSWDEOH SRSXODWLRQ ÀJXUH $VN D FHQVXV WDNHU WKH EHQHÀWV RI FHQVXV WR QDWLRQ EXLOGLQJ DQG excuses will saturate the demographic VSDFH ,Q WKH ÀUVW LQVWDQFH SUHYLRXV censuses have never been credible. There were always the invisible hands of politics; ÀJXUHV ZHUH LPDJLQDU\ DQG WKH SURFHVVHV ZHUH DOZD\V SUREOHPDWLF 1R HͿHFWLYH SODQQLQJ QRWKLQJ YHULÀDEOH ,Q HDFK /RFDO Government and/or District, there are no HͿHFWLYH %LUWK DQG 'HDWK &RQWURO 5HJLVWHUV DQG WKDW·V D PDMRU VHWEDFN )RU XV WR KDYH

a credible census, the infrastructure of a systemic population control must be on JURXQG DQG PXVW EH H΀FLHQW 7KH ULJKW orientation must also be provided and corruption must be checkmated.

In the United Kingdom, for example, when a young man or woman turns 18, he RU VKH LV ÀW WR DSSURDFK WKH &LW\ &RXQFLO for his or her own apartment. Of course, this followed a survey in which it was discovered that children even up to 21 years of age were still living with their parents. As fate would have it, the UK also has programmes which encourage a child of 18 years and above to start taking UHVSRQVLELOLWLHV :HOO WKDW·V WKH 8. ZKHUH God works wonders! Only God knows where yours sincerely was at age 18! Even now … still struggling! All these have shown how badly degraded our society has become!

Whenever issues about governance are raised in Nigeria, there lies the intriguing phenomenon: policy inexactitude. How do I mean? The approach of the NPC is akin to a man drawing water from the ocean with a basket full of holes. On the one hand, it is to enumerate the population. On the other hand, it has no means of accounting for accurate records of births and deaths in the society, among others. But the dangerous WUXWK LV WKDW SHRSOH GRQ·W YROXQWDULO\ reveal death details of family members or relations to government agencies for sociocultural and religious reasons. Even when it is in the hospital, the corpse is just taken away for burial without any room for post mortem. For some other people, it is not even part of their orientation to UHFRUG ELUWKV DQG GHDWKV 6R XQWLO WKHUH·V a national law that says every birth and death must be reported, people will prefer to bury their dead without formal permits or imposed broadcasts. ,Q RXU FOLPH ZKHQ SHRSOH GLH LW·V known only to their families. When new babies are born, it is also known only to the families and some friends. People even worry more about naming ceremonies for the new born babies, where partaking of

¶EUHDG DQG WHD· LV WKH QRUP 7R WKRVH SHRSOH WKH FHQVXV LV RI QR XVH (YHQ WKH /RFDO Government will not know that a child has just been born within its jurisdiction. At burial also, wads of cash exchange hands between the clerics and the congregants.

There will be calls for prayers for all categories of imaginary relationships. And WKDW·V DIWHU WKH FOHULFV PXVW KDYH IRXJKW for who should lead the prayers because, at the end of the programme, the leader goes home with the fattest portion of the ODUJHVVH 2I FRXUVH WKDW·V ZKHQ WKH SDVWRU ZLOO UHPHPEHU WKH FKXUFK ZDOO WKDW·V about to fall down, which the children of WKH GHDG PXVW FRQWULEXWH PRQH\ WR À[ QRW even minding whether or not the dead is already a candidate for hell!

Sad that the conscious understanding RI WKH HVVHQFH RI WKH NQRZQ ÀJXUH RI WKH population of a particular country has eluded Nigeria! So, how do we care for WKH DJHG ZKHQ ZH GRQ·W NQRZ KRZ PDQ\ they are? How do we prepare for the kids RI VFKRRO DJH ZKHQ ZH GRQ·W NQRZ WKHLU ÀJXUH" +RZ GR ZH HVWDEOLVK KRVSLWDOV ZKHQ ZH GRQ·W NQRZ ZKR WR EH FDWHUHG for? The General Hospitals are no longer ¶JHQHUDO· LQ WKHLU GHOLYHU\ RI TXDOLW\ service while the Teaching Hospitals have become comfort zones for brain drain.

6LQFH QRERG\ KDV WKH ÀJXUH WR SODQ ZLWK Nigeria has become one sorry story of an unrepentant embracer of aimlessly drifting policies, one after the other. ,Q WKH QRW VR GLVWDQW SDVW SHRSOH ORRNHG up to academia to provide a pragmatic plan for an incoming government. This is no longer the case! Even the academics are now overwhelmed and can no longer think of a novel and better approach to confront an insensitive government than the usual, ROG ¶ZH QR JR JUHH· 0LFKDHO ,PRXGX HUD industrial action. And, as if the gods were DQJU\ 1LJHULD·V XQLYHUVLWLHV ZHUH FORVHG for the better part of the Year 2022; yet, the country continued as if nothing serious happened. The question is: can a nation grow beyond its intellectual capacity?

3RSXODWLRQ FHQVXV LV QRW D RQH RͿ ,W·V an ongoing project. The more reason there must be a set standard for the coming exercise so that, by the time we are through with its rhyme and rhythm, Nigerians will EH DEOH WR PHDVXUH WKH RXWFRPH YLV j YLV WKH VHW VWDQGDUG ,I ZH GRQ·W KDYH D VHW VWDQGDUG WKHQ LW·V D VFKHPH WKDW KDV IDLOHG HYHQ EHIRUH WDNH RͿ /HW·V QRW EH GHFHLYHG WKHUH·V QR ZD\ D SRSXODWLRQ FHQVXV ZLOO EH VDLG WR KDYH DFKLHYHG LWV SXUSRVH LI LW·V MXVW a ritual. If it has no expectations and no JRDOV WR IXOÀO WKHQ LW·V MXVW D ZDVWH RI WLPH and resources. It is like national wealth squandered, as usual!

Komolafe writes from Ijebu-Jesa, Osun State

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Jumoke Oduwole says PEBEC is creating an enabling business environment in Nigeria, writes BASHIR IBRAHIM HASSAN

Godswill Akpabio is the best candidate for the position, reckons SULEIMAN ABUBAKAR

FUELLING HEALTHY RIVALRY AMONG THE STATES

RACE FOR THE SENATE PRESIDENCY

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KLV H[SHULHQFH DQG DUP RI JRYHUQPHQW WR EH DOLYH WR LWV NQRZOHGJH LQ VWDWHFUDIW $NSDELR LV QRW \RXU VWDWXWRU\ UHVSRQVLELOLW\ 7KH WK 6HQDWH HYHU\GD\ HJR GHIHQVLYH LGHRORJXH DQG ZLWK ZKLFK $NSDELR LV OLNHO\ WR SUHVLGH LV RQH XQEULGOHG DUURJDQFH OLNH PRVW SROLWLFLDQV RI RI D PL[HG JULOO RI GLͿHUHQW VKDGHV RI KLV VWDWXV DUH ZRQW WR EHKDYH KH·V GRZQ WR RSLQLRQV DQG LGHRORJLHV FDSWXUHG LQ WKH HDUWK DQG HDVLO\ DFFHVVLEOH E\ KLV OLHXWHQDQWV YLVLRQ RI WKH IRXU GRPLQDQW SDUWLHV RI DQG IULHQGV $3& 3'3 /3 DQG 1133 $VLGH IURP EHLQJ DQ HQJDJLQJ SHUVRQDOLW\ $NSDELR NQRZV KRZ WR FXOWLYDWH IULHQGVKLS Abubakar EXW RIWHQ WLPHV KH FRPHV IDFH WR IDFH ZLWK writes from Kaduna and can be reached on EHWUD\DO DQG KH·V QHYHU EXJJHG GRZQ ZLWK suleimanabubakar@yahoo.com.

28 4

T H I S D AY

MONDAY APRIL 3, 2023

EDITORIAL

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

THE OUTBREAK OF MENINGITIS The authorities need to do more to stem the disease

D

espite the recent emergency meeting in Jigawa by the Nigeria Centre for Disease Control and Prevention (NCDC) over the meningitis outbreak in the state, available reports indicate that the disease is spreading across the country with the number of fatalities growing. “An increasing number of Diphtheria, a serious bacterial infection that DͿHFWV WKH QRVH WKURDW DQG VRPHWLPHV VNLQ RI DQ individual, has been observed in the country with attendant mortalities,” NCDC disclosed recently.

Unfortunately, we have not seen any concerted HͿRUWV HVSHFLDOO\ LQ WKH DͿHFWHG VWDWHV WR FRPEDW the dangerous seasonal disease that has claimed the lives of thousands of Nigerians in the past few decades.

Meningitis is an DFXWH LQÁDPPDWLRQ RI the protective organs and membranes with layers surrounding the brain and spinal cord.

Symptoms include KHDGDFKH YRPLWLQJ VWLͿQHVV RI WKH QHFN ORVV RI consciousness and fever. In most cases, Meningitis becomes intense and widespread during heat period and in areas where there is no ventilation.

The number of deaths and cases recorded so far remain unclear but there are indications of growing fatalities in many rural communities, especially in the North. Yet, this is a recurring health challenge for which there should have been containment measures.

The Minister of Health, Osagie Ehanire, once ODPHQWHG WKDW 1LJHULD VXͿHUV PHQLQJLWLV ´ZKHQ GU\ VHDVRQ LV WXUQLQJ WR UDLQLQJ VHDVRQ LQ WKH PHQLQJLWLV belt that ranges all the way from Senegal down to Ethiopia, Eritrea. And the prevailing germ was the Meningococcus A”. The challenge, according to Ehinare, is that there is currently no cross immunisation for the disease. “If you are immune to Type A, it doesn’t make you immune to Type C.

And because Type C was very rare, the availability of vaccines has been very meagre relatively,” Ehinare said while explaining the challenge of the health authorities. To make matters worse, the entire West African sub-region has since been declared Meningitis belt, as the disease sweeps across Niger, Togo, Chad, Burkina Faso, Nigeria, and Cameroun.

It is unfortunate that for decades, a preventable disease like meningitis has been a recurring epidemic in Nigeria and has led to the death of thousands of our people, especially children. The spread becomes worse when the environment is not clean, and sanitation is not taken seriously. And that is partly because relevant authorities are not alive to their responsibilities. One, with the precautionary warning by the National Meteorological Agency (NiMET), the federal government should have expedited collaborative actions with vulnerable states for preventive measures. Two, we believe that the issue of hygiene ought to have been taken more seriously. And on that score, there is an urgent need for a public enlightenment campaign.

As has been explained, the disease is fatal and thrives more in areas where hygiene is lacking or is low. We therefore expect a more robust campaign on hygienic environment in view of the dangers of Meningitis. The current problem arose basically because these steps and strategies were not followed or adhered to. :KLOH ZH FRPPHQG WKH HͿRUWV SXW VR IDU LQ curtailing the disease, health authorities in Abuja and the 36 states still need to do more. We call on WKHP WR GHSOR\ PRUH RI WKHLU ÀHOG R΀FHUV DQG VWDͿ to the states where the disease is high. We also urge the government to do the needful in providing IXQGV IRU YDFFLQHV ZLWKRXW GHOD\ (YHQ DV HͿRUWV DUH being made to stop further spread of this disease, the strategy to prevent outbreak of epidemics should be strengthened.

The spread becomes worse when the environment is not clean, and sanitation is not taken seriously. And that is partly because relevant authorities are not alive to their responsibilities T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI THE OMBUDSMAN KAYODE KOMOLAFE

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

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

LETTERS INTERIM GOV’T NOT FOR NIGERIANS The Department of State Services (DSS), last week raised the alarm of clandestine move by some cabal to stop the swearing in of President-elect, Bola Tinubu, on 29 May. Peter Afunanya, DSS spokesman, stated that some persons have weighed various options, which include foisting an interim government after obtaining frivolous court injunctions to forestall the inauguration of new administrations at the Federal and State levels. Afunanya said such persons were also considering sponsoring endless violent mass protests in major cities to warrant a declaration of state of emergency. The Service considers the plot, being pursued by these entrenched interests as not only an aberration but a “mischievous way to set aside the constitution and undermine civil rule as well as plunge the country into an avoidable crisis.” The state security department warned civil society organizations, the media and court to be vigilant so as not to play into the hands of these plotters.

Even before the press release by the DSS, one recalls, at the peak of the naira redesign policy crisis, Governor

Nasir El- Rufai of Kaduna State, raised similar alarm. He stated that some cabal in the Villa are behind the currency redesign policy in other to make his party lose the election. El Rufai also accused the cabal of plotting an interim government if APC eventually wins the presidential election. There is no section in our constitution that provides for “interim government” after elections have been conducted and winners declared. Nigerians knew about “interim government” during the dark days of military rule. The annulment of 1993 presidential election which was adjudged as free and fair, in which late Bashorun Moshood Abiola of SDP won, led to the foisting of an interim government by the IBB military regime.

The then military president, Ibrahim Babangida, had to quit the stage due to the pressure from NADECO and other democrats.

In other to calm the looming crisis that stared the nation, IBB cleverly appointed Ernest Shonekan as the interim head of state. This was to pave way for the emergence of General Sani Abacha as the next president. Shonekan’s

interim government did not last long. If interim government could be foisted on the country during military era, we are now in constitutional democracy in which leaders emerge through democratic ways i.e. free and fair elections. So, if those who contested and lost the elections DUH GLVVDWLVÀHG ZLWK WKH UHVXOWV WKH\ FDQ VHHN UHGUHVV LQ election tribunal. Thank God, the major contenders have taken the right channel to challenge the victory of Bola Tinubu in court. Both Atiku Abubakar of PDP and Peter Obi of Labour Party have approached the tribunal to declare them winner. This is the beauty of democracy.

While Nigerian democracy is over two decades, the threat of interim government bandied by DSS and other key stakeholders should not be treated with kid’s gloves.

There is the need for the Sate Security Services to go after these evil forces and arrest them. Nigeria is bigger than individual interest.

Ibrahim Mustapha, Pambegua, Kaduna State

T H I S D AY ˾ MONDAY, APRIL 3, 2023

29

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

M A R C H

S & P INDEX

3 1 , 2 0 2 3

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

10.55%

INDEX LEVEL

612.93%

1/4 TO DATE

-0.22%

N461.46/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

10.80%

1-DAY

0.30%

YEAR TO DATE

0.22%

*AS AT LAST FRIDAY

3-MONTH

11.65%

MONTH-TO-DATE

1.44%

Stock Market Depreciated by N857bn in March Amid Political Tension

Kayode Tokede The market capitalisation of the Nigerian Exchange (NGX) depreciated by N857billion in March 2023 amid political tension, inflationary pressure and scarcity of local currency in the domestic economy.

Nigerians on February 25 and March 18, 2023 went to the polls to decide the leadership of their country, leading to foreign investors exit in some fundamental stocks on the Exchange.

Also, inflation rate, according to National Bureau of Statistics (NBS) increased to 21.91 per cent in February 2023 from 21.82 per cent reported in January and it impacted on investors return on investment in the stock market Although the stock market in first quarter gained N2.44 trillion in market capitalisation to close on March 31, 2023 at N29.544 trillion from N27.915 trillion at which it opened for trading activities on January 3, 2023, its performance in March dropped by N857billion

from N30.401trillion to N29.544trillion it closed for trading.

The overall market performance measure NGX All-Share Index, which tracks the general market movement of all listed equities on the Exchange, rose by 5.11 per cent to close at 54,232.34 basis points in Q1 2023 from 51,595.66 basis points it closed on December 30, 2022.

NGX ASI in the month of March dropped by 2.82 per cent to 54,232.34 basis points from 55,806.26basis points.

The decline was influenced

by investors profit-taking in Airtel Africa Plc, MTN Nigeria Communications Plc, and Dangote Cement Plc. The stock price of Airtel Africa dropped to N1,479.00 per share, a decline of 8.7 per cent from N1,620.00 per share it opened for trading in March while Dangote Cement show its stock price closing March at N270 per share, representing a decline of 2.9 per cent from N278 per share it opened for trading.

The stock price of MTN Nigeria

Communication moved to N240.00 per share in March from N245.00 per share it closed in February 2023, representing a decline of 2.04 per cent.

Amid controversies, the stock price of Seplat Petroleum dropped by 13.2 per cent to N1,150.00per share in March from N1,325.00 it closed for trading in February 2023.

However, the sector performance in Q1 2023 was bullish as most indices closed the period on uptrend as at March 31, 2023. NGX Consumer Goods index appreciated the most

by 19.32 per cent. NGX Premium Board index followed with a gain of 11.97 per cent, while NGX Oil & Gas index rose by 10.45 per cent.

Others are NGX Lotus II index, NGX Banking index, NGX Pension index, NGX 30, NGX Industrial Goods index and NGX Insurance went up by 8.79 per cent, 8.50 per cent, 6.35 per cent, 4.93 per cent, 2.21 per cent and 1.81 per cent in that order.

The story continues online on www.thisdaylive.com

Leadway Becomes First Insurance Coy to Cross N104.4bn in Total Premium

Kayode Tokede

Leadway has emerged the first insurance company in Nigeria to cross 3-digit billion mark with total premium collection of N104.4 billion of which Gross Written Premium is N92.5 billion, Savings & Investment is N10.8 billion and another N1.1 billion from its Ivorien Insurance subsidiary.

Also, Leadway remains the leader in claims payment with N57.5 billion, making it the largest claim payer in the industry consistently in the last seven years, thereby showcasing the benefits of insurance as an intervening tool in preventing financial losses.

The company also consolidated its financial strength in the year under

review having recorded an increase in its total asset base from N502 billion in 2021 to N535 billion in 2022, while Risk Premium significantly rose from N71 billion in the previous year to N93 billion in the year under review. Consequently, the group recorded a 26 per cent increase in total premium from N83 billion in 2021 to N104.4 billion in 2022 with

the growth attributed to the business’s ability to acquire new businesses for Group Life and its capacity to renew existing businesses.

Speaking at the company’s 51st Annual General Meeting (AGM) held in Lagos, the Managing Director/Chief Executive Officer, Mr. Tunde Hassan-Odukale, emphasised the company’s resolute

commitment to prompt claims payment to its esteemed policyholders despite the uncertainties and complexities surrounding the economic realities in the country and across the world.

“We are delighted in the company’s 2022 financial performance that saw us record yet another industry milestone of improved claims payout

to policyholders, despite the prevailing economic conditions and the debilitating doubledigit inflationary pressures.

This is duly attributable to our attractiveness to new customers and the confidence of existing ones to renew their policy contracts, affording us the headroom Continued on page 31

M A R K E T D ATA A S AT F R I D AY, M A R C H 3 1 , 2 0 2 3 BONDS DESCRIPTION Price ^14.20 14MAR-2024 ^13.53 23MAR-2025 ^12.50 22JAN-2026 ^16.2884 17MAR-2027 ^13.98 23FEB-2028

10.335, 00 10.339, 00 10.129, 00 11.289, 00 10.543, 00

Change Updated Time (%) 11.02 -0.01 January 13, 2023 January 11.71 0.11 13, 2023 January 11.98 -0.01 13, 2023 January 12.24 0.00 13, 2023 January 12.50 0.00 13, 2023

Yield

BILLS MATURITY

Discount

NTB 26-Jan23 NTB 9-Feb23 NTB 9-Mar23 NTB 27-Apr23

1.53

NTB 11May-23

2.70

1.54 1.83 2.43

Change Updated Time (%) January 1.53 0.00 13, 2023 January 0.00 13, 1.54 2023 January 1.84 0.01 13, 2023 2.44 -0.31 January 13, 2023

Yield

2.72

January -0.54 13, 2023

OTC F X F U T U R E S

CPS MATURITY FDHP CP III 17-MAR-23 VHPL CP III 1-APR-23 MREP CP VI 11-APR-23

Change Updated Time (%) January 8.08 8.20 -0.24 13, 2023 January 13.12 13.50 -0.33 13, 2023 January 9.52 9.74 -0.39 13, 2023

Discount Yield

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.

.

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.

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CONTRACT Current TENOR Contract Rate Updated Time ($/₦) (MONTH) NGUS JAN 25 469.87 January 1 2023 13, 2023 January NGUS FEB 22 2 472.05 2023 13, 2023 NGUS MAR 29 474.23 January 3 2023 13, 2023 NGUS APR 26 476.42 January 4 2023 13, 2023 NGUS MAY 31 478.60 January 5 2023 13, 2023

30

MONDAY, APRIL 3, 2023 ˾ T H I S D AY

BUSINESSWORLD

NEWS

NEPC Moves to Deepen Nigeria’s Non-oil Exports to China Gilbert Ekugbe The Nigerian Export Promotion Council (NEPC) has announced plans to deepen the volume of non-oil export trade to China.

Indeed, the council stated that with the help of its Market Access Department (MAD), Nigerian exporters would be equipped and enlightened on how to leverage the General Administration of Chinese Customs (GACC), a new clearing system introduced by the Chinese government in 2021 to boost non-oil export trade to China.

The Executive Director and Chief Executive Officer, NEPC, Dr. Ezra Yakusak, at the sensitisation exercise on GACC in Lagos, said the implication of the new policy is that no agricultural products from Nigeria are allowed into China without prior registration of the Companies and their products under the scheme with competent Authority He added that GACC is a policy that requires all overseas food

manufacturers, processors and storage facilities to register under the GACC and ensure compliance with Chinese import policies before they can export to China.

Represented by the Director of the International Export Office, NEPC, Mr. Babatunde Faleke, he said prior to now, the National Agency for Food and Drug Administration and Control (NAFDAC) and the Nigerian Agricultural Quarantine Services (NAQS) were registered by the Chinese Authority as facilitators for Nigerian Products under the new programme, but however, stated that in order to fast track the clearance of exports from Nigeria, the Nigeria Regional Investments and Trade Office (RITO) in Shanghai, China requested for the accreditation of the Nigerian Export Promotion Council (NEPC) to further enhance the processes.

“Consequently, the NEPC was appointed the competent authority in Nigeria for the GACC in November, 2022.

This was in recognition of the Council’s pivotal role in the export of Made-in-Nigeria products,” he said.

He said the importance of the sensitisation workshop was to enlighten Nigerian exporters on the Chinese import requirements, ensuring the quality of Made-inNigeria products to be exported to China to avoid rejection, create awareness on the existence and operations of GACC system to the Nigerian exporting public, to increase the value and volume of Nigerian trade with China and to maintain a database of Nigerian companies under the GACC scheme He bemoaned that the Council has in recent times been inundated with complaints of cargoes arriving China and could not be cleared or released, expressing hopes that after the sensitisation exercise, the issues would be addressed and exporters will be properly guided before shipping their products to China.

Heifer Facilitates Access to Finance, Others for Smallholder Tomato Farmers in Badagry Heifer International Nigeria has said that it facilitated access to innovative finance, guaranteed fair market and insurance for smallholder tomato farmers in Dadi Louis and Topo communities in Badagry, Lagos State, Nigeria.

The incentives to the farmers are being achieved through linkages with private sector partners offering innovative finance and premium markets and implemented through off-take and loan agreements.

The multi-partners initiative would enable the tomato farmers to operate at higher capacity and improve their

livelihood by increasing their profit margins and closing their income gaps.

At an agreement signing ceremony, participating smallholder tomato farmers under Itesiwaju Farmers’ Cooperative Society based in Louis Community, Badagry signed an agreement with Cosmic Roots Concepts Limited (CRCL) that will make accessible finance available to farmers with drastic reduction in transaction cost from the current 50% to a 9% interest rate per season starting with a reduction from 50% to 15% during the pilot. The three-way

agreement will also involves Soupah Farm-en-Market Limited (SFEM) who will off-take from the farmers at a fair market price.

The Country Director, Heifer Nigeria, Rufus Idris, explained that, “Supporting smallholder farmers to overcome access to capital and market challenges involves building collaboration with a wide range of stakeholders including investors and financiers, input distributors, insurance companies, business development service providers, agricultural research institutions, the donor community and government agencies”.

SON Vows to Combat Quacks in Management System Practice Gilbert Ekugbe The Standards Organisation of Nigeria (SON) has announced plans to eradicate quacks involved in management system practice in the country.

The move according to SON is to put an end to unscrupulous individuals who shortchange companies and individuals, noting that most of the practitioners in the system management practice are not competent and lacked the required competency to operate in theg management system space.

The Director General, SON, Mallam Farouk Salim, during a one

day stakeholders’ engagement for the National Register for Conformity Assessment Practitioners (NRCAP) in Lagos, stated that the stakeholders’ engagement forum is important to reiterate that conformity assessment practice is very central to the sustenance of commercial success and continuity in all sectors, pointing out that the role of management systems practitioners is vital to ensuring that practices carried out by the industries are in alignment with international best practice in terms of the expectations of existing conformity assessment standards.

In his words: “In view of the importance of the authenticity

and traceability of products and services, adjudged to have met the requirements of relevant Nigerian Industrial Standards and other approved specifications, SON seeks to pursue the implementation of, Part II, Section 4(d) and Part III, Section 5 of the SON Act No.14 of 2015, via the operation of the NRCAP scheme, in order to establish a directory of verified and registered Conformity Assessment Practitioners in Nigeria for all laboratories, Management system Consultants, Training Service Providers, Certification bodies, inspection bodies, inspectors, auditors and assessors.”

Moruf Oseni Takes Over as MD/CEO of Wema Bank Wema Bank Plc has announced the appointment of Moruf Oseni as the substantive Managing Director and Chief Executive Officer effective April 1, 2023.

“After serving in acting capacity since January 1, 2023, Oseni will be succeeding Ademola Adebise, following approval by the Central Bank of Nigeria (CBN), “the bank said in a statement.

“Oseni’s journey with Wema Bank began in 2012 when he joined as an Executive Director. Before his appointment as MD/CEO, he served as Deputy Managing Director for the last four years, a role where he demonstrated the capacity to lead the bank to even

greater heights as it continues to evolve into a financial powerhouse.

“With over 25 years of experience, including more than 16 years at senior to executive management levels, Oseni was the MD/CEO of MG Ineso, a principal investment and financial advisory firm. He had also served as Vice President at Renaissance Capital and was an Associate at Schroder Salomon Smith Barney/Citigroup Global Markets in London.

“Oseni’s credentials speak for themselves, with an MBA from the Institut European d’Administration des Affaires (INSEAD) in France, a Master’s in Finance (MIF) from the London Business School, and

a B.Sc. in Computer Engineering from Obafemi Awolowo University (OAU). He is also an alumnus of the Advanced Management Program (AMP) of the Harvard Business School and King’s College, Lagos.

“In addition to Oseni’s appointment, the CBN also approved the appointments of Wole Akinleye as Deputy Managing Director, and Tunde Mabawonku as Executive Director. Wole Akinleye previously served as the Executive Director in charge of Corporate Banking and the South-West Business, while Tunde Mabawonku served as the Bank’s Chief Finance Officer, “it added.

How Additional Retirement Benefits can Boost Pension for Employees The Contributory Pension Scheme (CPS) is a sustainable pension system that provides a stable, timely, predictable and adequate source of retirement income for employees in the public and private sectors. The CPS was the outcome of reforms in the pension sector initiated by the Federal Government of Nigeria (FGN) in 2004. The reform initiative culminated in the enactment of the Pension Reform Act of 2004 (PRA 2004). Ten years later, the PRA 2004 was repealed and replaced with the Pension Reform Act 2014 (PRA 2014).

Stakeholders have adjudged the implementation of the CPS in Nigeria a success. However, there are complaints PENCOM DG, Aisha Dahir-Umar about low pensions, especially from retirees FGN did not provide funds to pay pension in the public sector, because of the relatively low pay relative to increases for eligible retirees under the CPS. the private sector. It is vital to state that the FGN employees who were employed before CPS provides a comprehensive framework that June 2004 are entitled to Accrued Pension allows employers and employees to plan and Rights. Accrued Pension Rights refer to the save towards pensions. Accordingly, employers retirement benefits earned by FGN employees of labour can use any of the following ways under the Defined Benefits Pension Scheme recognised by the PRA 2014 to increase the before the introduction of the CPS in 2004.

It follows, therefore, that every time pensions of their retired employees: pensions are increased for FGN retirees under the DBS, the pensions of retirees under the UPWARD REVIEW CPS that have accrued rights should also be OF EMPLOYER’S 10% increased. Implementing pension increases CONTRIBUTION The PRA 2014 provides a minimum of 18 would substantially address the issue of low percent of the employee’s monthly emolument pensions for FGN retirees under the CPS to be deducted and paid by the employer to who have accrued rights. the Retirement Savings Account (RSA) opened by the employee. The 18% Contribution Rate INSTITUTION OF OTHER stipulated under Section 4(1) of the PRA SOCIAL SECURITY BENEFITS The absence of other social security benefits 2014 is only a legal minimum and is shared between the employer and the employee in in Nigeria is partly responsible for the clamour the ratio of 10% and 8% ratio, respectively. The by the retirees for exemption from the CPS. two parties can increase the rate of pension Nigeria needs to institute Zero Pillar Pensions contributions through a Collective Agreement in the form of a social security benefit, which between them, which will improve employees’ is recognised and provided for under Section 16(2)(d) of the Constitution of the Federal pensions when they retire.

Furthermore, an employer may elect to bear Republic of Nigeria 1999 (as amended). A the entire burden of pension contributions for social security benefits system would go a its employees, and in doing so, the employer long way to alleviate the sufferings of all is not limited to the statutory minimum of Nigerians, irrespective of whether or not they had formal employment. It will also augment 10 per cent. earnings from occupational pensions.

Exempting a group or an organisation from PAYMENT OF ADDITIONAL the CPS will not address the issue of inadequate BENEFITS TO EMPLOYEES The PRA 2014 provides that notwithstanding pensions. On the contrary, it will put the whole the pension contributions made by the employer system in jeopardy. The finances of the FGN and employee into the employee’s RSA, are stretched against competing needs, and “an employer may agree on the payment one has to only look at the budget deficit for of additional benefits to the employee upon 2023 of N10.78 trillion to appreciate the fact. retirement”. Accordingly, any employer may Accordingly, the pension sector reform must wish to provide additional benefits in the form be kept on track and expanded through the of gratuity to its employees upon retirement. diligent implementation of the CPS. As highlighted above, various options Employers, especially those in the public sector, can take advantage of the above are available to employers and employees provision in the law to enhance their employees’ to improve the adequacy of pensions for retirees, especially those in public service retirement benefits. who are disproportionately affected by low pay. Providing additional retirement benefits IMPLEMENTATION OF can have several benefits for both employers PENSION INCREASES FOR and employees. It can attract and retain talent, CPS PARTICIPANTS The FGN had released funds for the enhance employee morale and loyalty and settlement of pension increases to retirees improve an organisation’s reputation.

PenCom remains committed to the effective under the Defined Benefits Scheme (DBS) for 2007 (15 percent), 2010 (33 percent) and 2019 regulation and supervision of the pension (consequential adjustment). Meanwhile, the industry.

T H I S D AY ˾ MONDAY, APRIL 3, 2023

31

BUSINESSWORLD

STATUS REPORT

Revenue, Other Income Boost BUA Foods’ Profit Kayode Tokede

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UA Foods Plc’s 2022 audited result and accounts showed an impressive performance driven by strong revenue and other income amid challenging operating environment.

The growth in revenue impacted on profit and dividend payout to shareholders.

BUA Foods announced N418.35billion revenue in 2022, an increase of 26 per cent from N333.27billion in 2021 and declared profit after tax of about N91.34billion in 2022 from N69.77billion reported in 2021.

The group’s Earning per Share (EPS) stood at N5.07 in 2022 from N4.22 in the corresponding period.

With the increase in profit after tax, the board of directors recommended for the approval of shareholders a payment of N4.50k dividend per 1 ordinary share of 50 kobo each, out of the profits declared in 2022 (2021: N3.50k dividend per 1 ordinary share of 50 kobo each).

From the profit & loss figures, the growth in BUA Foods’s sugar revenue was driven by price adjustments and export sales within the period.

Revenue from Sugar (Non-fortified) closed 2022 at N145.16billion, representing an increase of 83per cent from N79.15billion in 2021, while revenue from Sugar (Fortified) stood at N129.24billion in 2022, a decline of 0.45 per cent from N129.84billion reported in 2021.

Revenue from molasses, thus, increased by 69.25 per cent to N743.03million in 2022 from N439.02million in 2021.

For the Flour division, Bakery Flour revenue stood at N79.68billion in 2022 from N64.19billion in 2021, as Pasta reached N57.24billon in revenue from N54.4billion reported in 2021.

In addition to BUA Foods revenue, sales from Wheat Bran hit N6.26billion in 2022, an increase of 19.4per cent from N5.24billion in 2021.

Nigeria is the Group’s major geographical segment as 86per cent of the Group’s revenue is earned from sales in Nigeria as against 100 per cent it was in 2021.

BUA Foods announced 23 per cent growth in cost of sales to N285.56billion in full year under review as against N230.3billion in prior period, driven by 23 per cent increase in raw materials cost to N260.18billion in 2022 from N211.21billion reported in 2021.

Cost of raw materials amounted for

91.11per cent cost of sales in 2022 against 91.7 per cent in 2021.

The high input cost environment and further devaluation of the Naira against the Dollar weighed heavily on prices for raw materials in nine months of 2022 and it resulted in higher cost of production.

The group closed the 12 months of 2022 with about 58 per cent increase in gross profit to N132.79billion from N102.96billiion to positioned its gross profit at 31.74 per cent from 30.9 per cent in 2021.

Selling and distribution expenses rise to N14.19 billion in 2022 from N10.14billion in 2021 due to huge increase in cost of diesel within the period as administrative expenses closed 2022 at N18.13billion from N14.63billion in 2021.

The Group’s total operating expenses increased by 33per cent to N32.92 billion in 2022 from N24.76billion in 2021 over increase in selling and distribution cost along the supply chain to customers.

Operating profit grew by 47per cent to N117.49 billion in 2022 from N79.89 billion in 2021, benefitting from top line growth coupled with lower administrative expenses.

Finance charges increase by 72.7

LEADWAY BECOMES FIRST INSURANCE COY TO CROSS N104.4BN IN TOTAL PREMIUM

L-R: Company Secretary, Mr. Olumide Hanson; Managing Director/CEO, Mr. Tunde Hassan-Odukale; Non Executive Director, Mr. Hadiza Aliko-Mohammed; Non Executive Director, Dr. Ademola Odeyemi; Non Executive Director, Mrs. Adebisi Lamikanra and Non Executive Director, Mr. Odein Ajumogobia all of Leadway Assurance at the 51st Annual General Meeting of Leadway Assurance held in Lagos… recently for growth and enabling our unwavering commitment to our policyholders.

“We remain well-positioned, strengthened and financially secured to continuously deliver our mandate of outstanding risk management and wealth creation to our policyholders.

We continue to sustain value creation to our stakeholders and as market leaders, bolster

customers’ confidence in the industry. This performance further amplifies our quest to deepen insurance penetration in Nigeria and on the continent, “Hassan-Odukale stated.

In his remarks, the Chairman of the Board of Directors, General Martin Luther Agwai (Rtd) stated, “As a flexible and marketsensitive Company, we remain

resilient and resolute in the execution of our business strategy as well as our engagement with stakeholders across the value chain. We remain firmly committed to intensifying and amplifying our group synergy towards enhancing our business reach and replicating successes achieved in Nigeria across other regions in Africa.”

per cent to N8.72 billion in 2022 as against N5.05 billion reported in 2021, due to efficient funding mix along business transaction.

In addition, Profit before tax increased by 38.4per cent to N107.23 billion in 2022 from N77.47billion in 2021, as profit before tax margin increased by 25.6 in 2022 from 23.24 per cent in 2021 due to increase in revenue.

Total assets increased by 2.32per cent to N607.22billion in 2022 audited results from N593.46billion reported in 2021 full financial year, driven largely by growth in trade and other receivables (+128per cent; 20 per cent of total assets).

Total equity increased by 15per cent to N230.96 billion in 2022 (FY 2021: N200.7 billion).

The company in a statement said the recent environmental disruptions such as flooding impacting on logistics efficiencies, energy cost, rising input cost, coupled with rising foreign exchange concerns and tightening stance of the Central Bank of Nigeria (CBN) which further interest rate to 16.5per cent are all core mitigating areas for BUA Foods.

The company added that, “We expect optimizing our supply value chain as we strive to increase market share across market regions.

“Furthermore, our rice division recommencement is on course as we continue to nourish lives and increase market reach.

“Our retail strategy remains a priority for us in the near term, while we drive to sustain the upward momentum of our export market strategy. We remain committed to reducing Africa insecurity issues while nourishing lives.”

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MONDAY, APRIL 3, 2023 ˾ T H I S D AY

BUSINESSSPECIAL

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

Sanda: Eko Disco Exploring All Options to Deliver Quality Power Supply to Consumers

Managing Director/Chief Executive Officer of Eko Electricity Distribution Company, Dr Tinuade Sanda, marked her one year in charge of one of Nigeria’s largest multi-billion-naira power distribution companies with many milestone achievements recorded within the year. In this interview with THISDAY, she reeled out her plans for the company for the next five years, which includes the plan to explore both on-grid and off-grid options to further deliver quality power service to all consumers of Eko Disco and ensure the close out of the company’s metering gap. Sanda also expresses optimism that president-elect will efficiently coordinate all efforts necessary to steady the supply of power in Nigeria, given his enviable credentials particularly, his remarkable interest in the power sector. Excerpts: What are your expectations for the power sector from the president-elect? irst, it is reassuring to know that Power is a key component of the President elect’s Renewed Hope Agenda. The incoming administration recognises the current challenges and constraints hindering generation, transmission, and distribution of power in Nigeria. I therefore expect the incoming administration to bring to life their commitment to seeing to improved power supply, and improve on what the outgoing administration had done because as we know, power is the bedrock of any economy.

We recognise that power is a significant component of production or operating expense in any business, it is therefore important that we continue to improve the Sector by addressing the current gas issues, addressing the issues that have been affecting the sector in terms of liquidity, infrastructural upgrade and rehabilitation, increased capital injection, friendly and attractive regulatory framework to promote cost reflective tariff, investments in the different chains of the Sector including metering and infrastructure maintenance. there will be improved standard of living and better GDP. I am optimistic that the president-elect will efficiently coordinate all efforts necessary to steady the supply of power in Nigeria, given his enviable credentials particularly, his remarkable interest in the power sector.

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President Muhammadu Buhari has signed into law the power sector decentralisation bill. What is your take and expectation from this new legislation?

In my opinion, I feel the signing into law of the bill is in the right direction for the power sector. However, I know it might have huge impacts on the current structure that has provided some degree and comfort to investors. But I think it would also help to bring effectiveness, efficiency, and some level of possibly healthy competition to the power sector. However, I want to urge the state governments to work and collaborate with the investors that have invested in the power sector because, we don’t want it to be construed that the terms and conditions of the privatisation are not being adhered to, to avoid a situation where foreign investors would be concerned about arbitrary government policy changes.

But I personally feel that if implemented properly, given the capital intensive nature of the Sector, the constitutional amendment will attract necessary investment required within the sector, including the replacement, rehabilitation and upgrade of dilapidated infrastructure. it is also expected to bring about more strategic partnerships, business alliances, more equity investments and improved liquidity to the sector. So for us in Eko Disco, we look forward to collaborating with the Lagos and Ogun State governments and seeing how we can improve the experience of our consumers in our network areas in that regard.

How far would you say the power sector has fared nine years after privatisation?

When privatisation was going to start in 2013, it was with high hopes that we would be able to do away with the era of erratic power supply and that there would be a lot of significant improvement in the power sector. However, in the last nine years, different government policies had affected the sector both positively and negatively. But I would say that from where we are coming from in 2013, there has been significant improvement in the power sector.

Government has invested quite a lot in the Transmission Company of Nigeria, ensuring that the bottlenecks and challenges that we have been having from being able to wheel power to the Discos are being addressed to a large extent, though, still a work in progress. With the Siemens contract that government entered into, we know that a number of power transformers have been imported and they are being connected in different parts of the country.

However, for us in Eko, we’ve invested quite a lot within our network area. In recent time and in the last one year, I would say that we’ve invested about N14 billion to address some capital projects, to rehabilitate the network, to ensure that we meter our customers, to ensure that we improve our consumers’ experience. So our own focus is to distribute more power notwithstanding what is happening with the grid. We also looked into collaborative relationships

Sanda where we could get more power from IPPs. There are a couple of IPPs we’ve signed contracts and are working with within Eko network area. There are also some other Gencos that we have gone ahead to have bilateral relationships with, just because we want to serve our consumers better and be able to provide power to them.

We’ve seen that just relying on the grid is not sufficient, and, the regime of the power regulators that we have now have been very collaborative. They are forward-thinking and they look for innovative ideas that would help improve the sector’s liquidity, and address the challenges the sector is facing. One of the major challenges we are facing is metering. You keep hearing consumers shouting estimated bill, it’s real and it’s a concern even for us as Discos. I also want to sell my energy and be able to bill accurately what consumers have utilised. But what you have today is that we are not able to attract necessary funding that is required because of the issues the sector is plagued with. Lending from the banking sector in Nigeria is short to medium term, none of them is ready for the long term funding which is what the sector needs.

So what NERC has done is to introduce a meter acquisition fund, where a tariff component of 75 kobo for every kilowatt hour is dedicated to the Fund on a recurring basis. The Fund is dedicated to DisCos to provide credit towards meter acquisition. Also, this year at Eko, one of our plans is to ensure that we are able to meter about 30 per cent of the unmetered consumers within our network area. So, I’ve prepared the metering plan for the next three years which focuses on aggressively closing the metering gap year on year. Further, as we know that Meters have their useful life term, and some within the network have outlived this term which means that they need to be replaced.

What I intend to do is to immediately focus on replacing these obsolete meters at the end of the three-year term after we must have considerably closed the current gap. But as the sector keeps evolving, Eko on its own will keep addressing infrastructure challenges because if we don’t address the network, when power generation improves, we will not be able to evacuate and distribute.

So we on our own are also planning and have our own expansion programme. We want to expand towards Ibeju-Lekki axis. Today, Ibeju keeps evolving and we find the population increasing tremendously, so we are also planning to keep up with the growth and power needs of

the area and other areas experiencing increasing population and development growth within the State. We also continue to closely monitor the Lagos and Ogun State government’s plans on growing the businesses and undertaking developments within their respective States.So we are also planning ahead and alongside these States to ensure that we continue to keep up with the power needs of the citizens within our franchise areas in the Southern parts of Lagos and Agbara in Ogun State. .

What has been your experience managing one of the largest Discos in Nigeria in the past one year as CEO? Since 2013, I’ve been part of the executive management in Eko Disco and started off as the Chief Accounts Officer overseeing the finances of the Company. . So I quite understood the company very well and the challenges we’re facing as a sector. I have overtime come to understand the quick wins and the low hanging fruits that we should quickly take onboard, what needs to be done, risks and mitigating measures, etc. This has prepared me for the position even way ahead of my appointment as the MD/CEO. At least in the last year, we have successfully driven down the Company’s ATC &C losses, and are currently working towards breaking even. The first thing I did upon my appointment was to map out strategies with my team, to help address our infrastructure issues, metering challenges, inefficient collections and most of all, improve customer and workforce experience.

I mentioned earlier that one of the challenges we had was the old dilapidated infrastructure.

We have prevalent faults recorded day in day out.

When it rains, we have to take more precaution including putting out some of our infrastructure, for safety reasons not just the safety of our workforce, but also, of our customers within our network area. This in particular affects our services to our esteemed customers and negatively impacts on our revenue. So I understand that one of the quick wins for us is to look at how we can improve our services to make our customers happy, increase our revenue, look at how to drive down our operational expenditure and ensure that we also meet our obligations to the market because when you don’t meet up your obligations to the market, you create another liquidity problem within the sector. If I’m taking energy and I can’t pay for the energy, Gencos too cannot pay the gas companies, then we’re back to square one, because most of the problems

we have in the sector is because of the illiquidity. So one of the things we did was to look at our customer base, we looked at the way we distributed energy, then re-strategised and started distributing energy more efficiently. We looked at the metering issues, drew up a plan to address the metering problems including the introduction of a 72-hour Metering Programme to improve the metering process, with the launch of mobile MAP at each District. We got customers to come to apply for meter at the district offices and within 72 hours, we ensured the commencement of the installation process. So what that helped to do was to encourage the consumers to personally come forward to apply for meters and spread the word that if you apply and get your KYC done, you get metered within 72 hours. We also used that opportunity to enlighten our consumers that you don’t need to give bribe to anyone to get metered.

If any of our employees was asking anyone for gratification, we have whistle blowing lines, email addresses that could be used to report such and through that, we were able to take disciplinary actions against erring staff. What we also did was to do a lot of customer engagements and enlightenment.

We started giving notices out on when we have preventive maintenance or a planned routine work that needs to be done. We reduced the way we were also granting outages for connections and now have specific dates and hours for that. We changed it to Wednesdays and Fridays and, our consumers know that if power is not available within 10am to 12 noon or 10am to 1pm, this is the reason, unlike before where we were just arbitrarily granting outages. We also started streamlining and optimizing our processes, we introduced a lot of automation to our work processes. And we have also introduced 24 hours shift for some parts of the network areas for now, with the hope to gradually attain full implementation across our network. What that means is that, if for example there is any fault within the Island District area today, there is a dedicated team that is available to immediately clear or rectify the fault after all the HSE checks.

In the course of the year, we also bought transformers; over150 transformers in order to address the issue of transformer overloads that we had in our network areas this in particular reduced outages in some areas and improved reliability Other customer experience measures taken included the creation of additional contact centres that our consumers can reach different touch points closer to them and make their complaints, establishment of a robust contact centre platform that we now use for consumers to reach us at any time of the day, whether public holidays or weekends, they can log in their complaints, track their complaints to monitor the progress.

In the course of the year, we have developed measures to improve our collection efficiency which have resulted in record-breaking achievements.

I also recognise the important place of our workforce, the workplace satisfaction and career progression as I believe the employees are the strong pillars of our organisation and the successes we have achieved thus far. In that light, my team and I developed sustainable ways to improve the morale of staff by increasing staff salaries by 25 per cent and promoting over 1000 employees in October 2022.

So for this year, we are going on another trajectory. e We have identified quick wins and broken down our goals into immediate, medium and long-term goals. The team is focused, we are energised, and we are willing to drive these goals and attain more ground-breaking achievements.

What is your current metering position in relation to the number of customers metered as against your customer base?

Today, I can proudly tell you that we’ve metered over 60 per cent of our customer base. The remaining 40 per cent plus the meter replacement have been addressed in our next three years’ metering plan as I stated earlier. Although, we want to under-promise with the hope to over deliver, but our target is to meter everybody within the next three years.

NOTE: The story continue online on www.thisdaylive.com

T H I S D AY ˾ MONDAY, APRIL 3, 2023

33

BUSINESS SPECIAL

ANALYSIS

As NSIA Beats Market Expectations Kayode Tokede writes on the Nigeria Sovereign Investment Authority recently released audited results for 2022 which showed that the organisation recorded profit consecutively for 10 straight years

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ince 2022, the global economic uncertainty has remained elevated due to the cost-ofliving crisis and the Russia-Ukraine war.

The shocks have shaken the global economy in recent years and introduced a new normal of turbulence, driven in some cases by political fragmentation between countries and affected negatively returns on investments.

The uncertainty saw multilateral institutions such as the International Monetary Fund (IMF) and World Bank cut their projections for 2023.

Despite the gloomy economic projection and slowdown in economic activities in Nigeria, the Nigeria Sovereign Investment Authority (NSIA), manager of Nigeria’s sovereign wealth fund, recently announced its audited results for the 2022 financial year, beating market expectations.

The financial performance underscored the resilience of the NSIA’s investment strategy, and the quality of its earnings given the challenging macroeconomic environment.

The financial results showed that the Authority recorded its 10th year of continuous positive earnings in spite of volatility and headwinds across markets. Its total assets grew by 10.5 per cent to N1.02 trillion in 2022, up from the N919.73 billion recorded in 2021.

Also, its non-volatile revenue such as interest income, revenue from infrastructure business, and management fees earned from fiduciary activities, increased by 34.5 per cent (N15.7 billion) yearover-year, while its total comprehensive income of N96 billion in 2022 represented a decline of 34 per cent relative to 147 billion in 2021, due largely to strong macroeconomic headwinds.

Nonetheless, the agency was able to outperform most global investment benchmark and indices to deliver a respectable performance.

To deliver its development objectives, the NSIA either sponsors or invests in projects and programmes which afford long-term socio-economic benefits to the nation and invests in high-priority developments to drive Nigeria’s economic goals.

Commenting on the results, Managing Director and Chief Executive Officer, Mr. Aminu Umar-Sadiq, said the performance was recorded despite the challenges in the operating environment.

He said, “Against market expectations and internal forecast, NSIA closed the 2022 financial year with a respectable performance. This result underscores the robustness of our diversified portfolio, and the excellent commitment of the team.

“As we look to the future, NSIA is resolute in its commitment to delivering increased investments in critical sectors of the economy, driving growth across its funds, and attracting third-party capital into Nigeria’s infrastructure sector.

“In 2023, we will be resourcing our various platforms targeted at emerging sectors – renewable energy, sustainability, innovation, and healthcare – which will ensure the Authority achieves its dual objectives of delivering financial returns and impactful social outcomes.”

The earnings of the NSIA Group at the end of 2022 was N96.96 billion, which was 34 per cent less than the N146.98 billion recorded in 2021. This decline was primarily attributable to the performance of our Future Generations and Stabilization portfolios that are invested in emerging and developed financial market instruments.

NSIA’s a well-diversified portfolio continues to provide the resilience to withstand market challenges as evidenced by the results.

In 2022, the pioneer MD & CEO, Mr. Uche Orji, completed his second and final tenure on September 30, 2022, and a new Executive Management team led by Umar-Sadiq was appointed by President Muhammadu Buhari in October of 2022. Two other Executive Directors, Kola Owodunni and Olubisi Makoju were appointed to the Board of NSIA. This internal sourcing of the new executives underscores the depth of the succession plan and the bench strength of NSIA. The NSIA Funds The NSIA has three funds which includes the Nigeria Infrastructure Fund (NIF), the Stabilisation Fund and the Future Generation Fund.

The NIF is one of three distinct and ring-fenced funds managed by the Authority. It focuses entirely on domestic investments in certain sectors of the Nigerian economy, some of which include motorways, healthcare, power and agriculture.

NIF focuses on domestic infrastructure investments that meet the following four criteria: alignment with national priority; potential to attractive commercial and social returns; the ability to attract both domestic and foreign private sector participation, availability of conducive regulatory and legislative environment.

In 2022, NSIA reached a significant milestone

are depleted. In 2022, for the Future Generations Fund, the NSIA’s stated that its approach was centered on generating healthy risk-adjusted returns, cautiously increasing market exposure, and growing the tactical allocation portfolio (ETFs) within the year. Overall, the Authority’s portfolio delivered a return of 1.87 per cent (in US$ terms) for the year ended 2022. The Future Generations Fund outperformed its sovereign wealth funds peers by 10% on average, with Private Equity being the top-performing sector. Developed Equity, Hedge Funds, and Emerging Long Only Equity posted a decline in the year due to prevailing macroeconomic market conditions.

NSIA PRIZE FOR INNOVATION

Umar Sadiq in implementing its infrastructure strategy by delivering key projects. These projects cut across our core sectors of focus and the implementation of specialized federal government initiatives: Under the Presidential Fertiliser Initiative (PFI), as of year-end 2022, 72 blending plants had been included in the programme starting from 11 in 2017. In 2021, NSIA divested its interest in NAIC-NPK (now PFI-NPK), ceding its interest to the Ministry of Finance Incorporated (MOFI) while the management of the programme remains with the Authority.

The PFI-NPK reported a profit in 2022, the second year in a row, signaling a departure from prior import substitution programmes for fertiliser.

Also, in the year under review, Pandagric Novum, Pandagric Novum farm, a joint venture between NSIA and Signature Agri Investment, was commissioned in September of 2022 by His Excellency, the Vice President of Nigeria, Prof. Yemi Osinbajo.

The fully operational, integrated farm is cited on 3,500 ha of land for the cultivation of maize and soybeans and connected to a 147,000 metric tons per annum capacity poultry feed mill. It has 75,000 tons of storage infrastructure consisting of two silos and six bunkers, as well as 35,000 tons of raw material and finished goods storage.

“Under its gas industrialisation initiative, the Authority and its partner OCP Group of Morocco, made significant progress in the development of the 1.5MMT Ammonia and Di-Ammonium Phosphate production plants due to be cited in Akwa Ibom State. The development of the project has reached an advanced stage, with all preliminary studies concluded.

“The Gas Supply and Aggregation Agreement is being finalised with relevant parties, and financing is largely in place to ensure the delivery of the project.

“In the 2022 financial year, NSIA continued its development of various projects under the Presidential Infrastructure Development Fund (PIDF), namely the Lagos-Ibadan Expressway (LIE), Second Niger Bridge (2NB) and AbujaKaduna-Kano (AKR) Highway.

“These projects have reached advanced stages of construction, building on the successes of the 2021 financial year. The initial scope of the AKR was completed, and significant progress was achieved on the 2NB and LIE. “NSIA has kicked off the roll-out of phase 2 of its healthcare projects on the successes of the LUTH Cancer Centre and its two diagnostic

centres in Kano and Umuahia. During the year, the Authority secured approval and began developing 23 new modern medical diagnostic centers of excellence which will span across all six geopolitical zones in the country. Presently, two Oncology centres to be located in Enugu and Kaduna states, and six Cath Labs have advanced to the project execution stage,” the Authority disclosed.

In addition, the NSIA has incorporated an equipment leasing company, Equilease. This was in fulfilment of NSIA’s commitment to bridge notable voids in the domestic healthcare value chain. Equilease was conceived to stimulate the proliferation of high-quality medical infrastructure in Nigeria by providing alternative financing options for acquiring critical medical equipment via equipment leasing.

The NSIA also completed the 10MW Haske solar power plant in Kano in 2022 as its flagship renewable energy sector project. The power plant was developed on behalf of the Federal government and its subnational co-investors to provide off-grid electricity in the Kumbotso Local Government of Kano State.

On the other hand, the Stabilisation Fund (SF) is the smallest of the three NSIA pools of capital, with a 20 per cent allocation of Funds under management. The purpose of the SF is to act as a buffer against short-term macro-economic instability associated with considerable government revenues derived from hydrocarbon exports. The Stabilisation Fund is intended to act as a buffer against short-term macroeconomic instability. The SF’s assets are therefore to be invested conservatively, striking a balance between generating a modest positive return and preserving capital in nominal terms.

For the Stabilisation Fund, in 2022, the Authority stated that it largely invested in the United State’s sovereign debt instruments and Investment Grade Corporate Credit. It noted that at the end of December 2022, approximately 30 per cent of the fund was invested in a portfolio of U.S. treasury bonds tracking the Bloomberg Barclays U.S. Treasury bond 1–3-year index. The fund returned 4.08% (in US$ terms) for the year.

Also, the Future Generations Fund is to preserve and grow the value of assets transferred into it – by investing in a diversified portfolio of appropriate growth investments – in order to provide future generations of Nigerians with a solid savings base for such a time as the country’s hydrocarbon reserves

Also, during the year, NSIA introduced the NSIA Prize for Innovation (NPI) as a measure to stimulate the ingenuity of Nigerian innovators and technopreneurs to develop solutions that address real-world challenges with global application.

The NPI program is a business enhancement initiative to support early-stage, growth-driven tech solutions through education, mentorship, and financing. The program aims to catalyse the growth of the Nigerian technology ecosystem by identifying budding innovators, enhancing their capabilities, and providing a platform to scale their solutions globally.

Umar-Sadiq, said the intention of the programme was to assist the Authority to establish direct access to the Nigerian technology sector.

He pointed out that for centuries, prizes in various fields of human endeavour have served both as a reward and tool of encouragement for ideas that solve critical challenges for the human race.

He noted that in modern times, such innovation programmes have helped to nurture novel ideas and ingenious innovation in science, technology, and many other fields.

He said the NPIP was the NSIA’s rationale for choosing to leverage innovation as a tool to stimulate developments in Nigeria’s fast-growing digital ecosystem.

The new NSIA CEO said, “Some may ask, ‘why an Innovation Prize?’ Our answer is simple. ‘Why not?’ We have over the past decade explored various strategies to deliver our vision, which has seen us play an everincreasing role in promoting investments for Nigeria’s economic development.

“We see the innovation prize as another vertical under our strategy. We have explored the route of sponsor, co-developer, and financial investor on a number of projects.

“The prize approach is a different but equally potent path. With this, we aim to serve as not just a catalyst for the fast-growing domestic technology and innovation industry but also as a deliberate enabler across the various tiers of the ecosystem.

“Our Board is convinced that this approach will mobilise participants and capital, spread the burden of risk, set a problem-solving agenda, and serve as an effective accelerator for viable projects.”

Umar -Sadiq explained further that the Prize for Innovation programme was designed for national coverage.

He added that the NSIA was committed to working assiduously as it has always done to deliver a programme that is inclusive, transparent and outcome-driven, covering the entirety of Nigeria’s digital hubs.

Through this, he added that the Authority would identify and elevate early-stage projects with transformative economic potential.

“We will commence the programme by opening the innovation prize application portal in short order. Once opened, we expect to receive a flurry of high-quality entries reflective of Nigerian ingenuity.

Looking forward, the authority said it remains committed to managing Nigeria’s sovereign wealth fund in a transparent, accountable, and competent manner. The authority’s solid foundation, seasoned staff and diverse portfolio will enable it to overcome any obstacles and provide long-term value to its stakeholders.

It stated that 2023 would be an equally challenging investment period due to the lingering effects of the Russia-Ukraine conflict, the activities of central banks of developed economies in curtailing inflation, and de-globalisation challenges. It added that the focus on ESG, Sustainability and Climate finance would play a vital role in its investment approach and strategy going forward.

The NSIA also said it would continue to drive direct investments in its core areas of healthcare, toll roads, gas industrialisation, technology, ESG, Financial markets infrastructure, toll-roads, power and agriculture.

34

MONDAY, APRIL 3, 2023˾ T H I S D AY

BUSINESS/MONEYGUIDE

Afreximbank Provides $10m Trade Line Facility to Parallex Bank

Nume Ekeghe

African Export-Import Bank (Afreximbank) has provided a $10 million trade finance facility to Nigeria’s Parallex Bank Limited.

Parallex Bank in a statement said the financing is deployed under Afreximbank’s Trade Facilitation Programme (AfTRAF), which is part of the Bank’s strategy to assist African banks to enhance and complement existing trade finance lines.

“The $10 million financing facility will be used by Parallex Bank to facilitate, through onlending, access to cross-border trade finance for small and medium-sized enterprises (SME), and to create lines of credit for

businesses operating in the agriculture, export industry, health, education and renewable energy sectors. The funds will also support other pan-African business opportunities for Parallex Bank’s growing SME segment, as well as for emerging commercial and corporate banking businesses, “it said.

President and Chairman of the Board of Directors of Afreximbank, Prof. Benedict Oramah, commented: “We are pleased to continue to expand the AfTRAF programme across Africa. This financing facility provided to Parallex Bank comes in addition to other trade facilities already in use by our other partner banks in Nigeria and throughout the continent to help bridge the financing gap created by the

withdrawal of international correspondent banks.”

MD/CEO of Parallex Bank, Mr. Olufemi Bakre said: “This facility underscores the confidence that Afreximbank has in Parallex Bank. It helps us to materialise our strategy of building ecosystem partnerships to support critical sectors of Nigeria’s economy for growth and development. We will engage in product-based collaborations to increase transaction mileage in specific and strategic segments, such as the creative industry, women-owned and managed businesses, among others. Parallex Bank remains committed to promoting business growth in Africa and contributing to the development of the continent.”

Experts Explore 25 Tomato, Pepper Seed Varieties In Nigeria Agricultural experts at Prime Agro Seed in collaboration with Netherland-based agro solutions firm, PROFYTA, have commenced trial of 25 tomato and pepper seed varieties as part of measures to boost production.

Speaking at a seed exhibition event in Benin City, Edo State, they advised farmers in Nigeria to explore research

for productivity, quality and quantity.

According to Chief Executive Officer, PROFYTA, Ewout Schurink, the outcome of tomato and pepper seed research is based on soil and climate, adding that the result varies from region to region.

Explaining further at the event held at Wells Hosa Green House Farm and attended

by key stakeholders, Chief Operating Officer of Prime Agro Seed, Meka . Nwabuko emphasized the need for farmers to have access to quality seed and ultimately quality production.

The Managing Director, Edo State Investment Promotion Office, Kelvin Uwaibi said the initiative is capable of boosting the activities of smallholder farmers in the state.

WACT Commissions 16 New Terminal Trucks at Onne Port The West Africa Container Terminal (WACT) has said that it has moved a step further to realising its vision of becoming the gateway to East Nigeria and beyond with the commissioning of 16 brand new terminal trucks to boost efficiency and cargo handling operation at the Onne Port, Rivers State.

The additional container handling equipment, it said, will further improve the already quick turnaround time for vessels calling WACT. With the acquisition and commissioning of the new terminal trucks, WACT now boasts of 36 terminal trucks deployed into its operations.

Speaking at the commissioning ceremony of the new trucks, the Country Managing Director of APM Terminals Nigeria, Frederik Klinke, commended WACT for acquiring and deploying the new trucks.

“This is truly an amazing

story in a terminal that has essentially renewed itself on an existing ground, and now stands as a fully modern and fully equipped terminal.

These trucks will enhance the capacity of WACT and enable it to handle more volume,” Klinke said.

The Managing Director of WACT, Naved Zafar, said the trucks were acquired as part of a fresh investment of USD112 million by APM Terminals to upgrade and expand the terminal.

“This brand new fleet is part of our ongoing Onne terminal upgrade; an expansion project as you all know, which has been going strong since last two years. We are coming closer to complete the major part of that expansion project,” he said.

Also speaking, the Customs Area Controller, Port Harcourt Area 2 Command, Comptroller Bola Imam, who was represented at the event

by Deputy Comptroller Acho Ojike, while acknowledging WACT’s commitment to trade facilitation and revenue generation said, “WACT’s operations have supported the Nigeria Customs Service (NCS) immensely in generating revenue and meeting their targets. NCS is all about the revenue collection but this cannot be achieved without WACT. WACT has shown wonderful commitment towards this course, and we remain thankful to them.”

Speaking on behalf of Nigerian Ports Authority (NPA), the Port Manager of Onne Port, Stanley Magaji Yitnoe, also commended WACT for acquiring the new trucks, which he said would aid efficiency, improve productivity and ensure quick turnaround of vessels at the port in line with the Federal Government’s policy on the Ease of Doing Business.

Okomu Oil Task Communities On Project Maintenance Okomu Oil Palm Company Plc has trained executive members of neighbouring communities on how to manage projects situated in their respective communities effectively.

The Acting Managing Director of the Company, Mr Leo Shagi, while declaring the training opened urge participants to make good use of the knowledge and ensure projects cited in their communities are sustained for the benefit of all and in order to justify the cost of the projects.

According to the company’s communication officer, Fidelis Olise, this year’s training was designed to maximize the gains of the projects executed in the communities under the Corporate Social Responsibility programme.

Olise explained that it is one thing to execute a project in a

community and it is another thing to effectively manage these projects, sustainably, for the benefit of all.

He noted that if the projects were not effectively managed, they became a liability to both the company and the communities.

He noted further that over the past years, the company has executed over one hundred and sixty (160) meaningful projects in the communities which included but were not limited to schools, health centres, town halls, boreholes and the like.

The Okomu Oil Palm Company PLC with three (3) concessions in Edo State was established in 1975 as a pilot scheme for oil palm development.

Over the years, the company has grown to have four lines

of oil palm production and producing 135 tons of oil per hour at full capacity and is currently the biggest Agricultural company on the Nigerian Stock exchange and consistently gives investors good returns.

As a responsible agricultural company, Okomu Oil Palm Company has received numerous certifications which include Round Table on Sustainable Palm Oil (RSPO), ISO 14001, 90001 and 45001 as well as Halal Speaking at the end of the training session, the participants thanked the company, not only for bringing projects and development to their communities but going further to inculcate in them, knowledge and skills that will help community members to effectively utilize and manage these projects sustainably in future.

L-R: Deputy Comptroller of Customs, Port Harcourt Area 2 Command, Acho Ojike; Managing Director, West Africa Container Terminal (WACT), Naved Zafar; Country Managing Director, APM Terminals Nigeria, Frederik Klinke and Port Manager, Onne Port Complex, Stanley Magaji Yitnoe during the commissioning ceremony of 16 new terminal trucks acquired by WACT at the Onne Port Complex, Onne, Rivers State, recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS (MILLION NAIRA) AUGUST 2022 Money Supply (M3)

49,356,443.6

-- CBN Bills Held by Money Holding Sectors

50,601.36

Money Supply (M2)

49,305,842.3

-- Quasi Money

27,869,678.3

-- Narrow Money (M1)

21,436,164

---- Currency Outside Banks

2,680,236.81

---- Demand Deposits

18,755,927.2

Net Foreign Assets (NFA)

5,074,909.92

Net Domestic Assets(NDA)

27,869,678.3

-- Net Domestic Credit (NDC)

61,195,142.4

---- Credit to Government (Net)

21,001,401.5

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

40,193,740.9

--Other Assets Net

6,785,979.22

Reserve Money (Base Money

14,040,351.9

--Currency in Circulation

3,210,664.98

--Banks Reserves --Special Intervention Reserves

10,829,686.9 390,557.8

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

July 2022

Inter-Bank Call Rate

13.00

Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)

14.00

Treasury Bill Rate

2.76

Savings Deposit Rate

1.42

1 Month Deposit Rate

3.64

3 Months Deposit Rate

4.96

6 Months Deposit Rate

5.87

12 Months Deposit Rate

5.76

Prime Lending rate

12.10

Maximum Lending Rate

27.61

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT 8 MARCH, 2023

The price of OPEC basket of thirteen crudes stood at $84.37 a barrel on Tuesday, compared with $84.59 the previous day, according to OPEC Secretariat calculations.

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

35

T H I S D AY ˾MONDAY, APRIL 3, 2023

MARKET NEWS

International Breweries, UAC, 12 Others Declare N38.77bn Loss in 2022 Kayode Tokede Amid a challenging business environment, International Breweries Plc, UAC of Nigeria Plc, Ikeja Hotel Plc and 11 other companies listed on the Nigerian Exchange Limited (NGX) have declared a sum of N38.77billion loss in 2022 financial year as against N16.03billion loss declared

in 2021 financial year.

Findings by THISDAY revealed that weak revenue generation, higher energy prices, foreign exchange illiquidity, commodity cost headwinds, severe weather, and overall inflationary pressures were key challenges that plunge these companies’ loss before tax In the year under review.

Seven out of the 14

P R I C E S MAIN BOARD

DEALS

F O R MARKET PRICE

companies in 2021 reported impressive profit before tax.

Capital market analysts, thus, expressed that these companies anytime soon may not declare dividend payout, stressing that their stock prices have depreciated lately over poor corporate earnings.

So far, International Breweries, followed

by UAC of Nigeria Plc reported the highest losses in 2022 as both companies battled high costs of operation, interest expense on bank loans and foreign exchange loss.

The breakdown revealed that International Breweries in 2022 financial year declared a loss before tax of N26.84billion as against N19.84billion loss before

S E C U R I T I E S

T R A D E D

QUANTITY TRADED

VALUE TRADED ( N )

MAIN BOARD

tax in 2021, while UAC of Nigeria announced N4.37 billion loss before tax in 2022 as against N4.11billion reported in 2021.

From profit & loss figures, International Breweries announced N218.65 billion revenue in 2022 from N182.3 billion in 2021 but the beer maker witnessed 29 per cent per cent increase in its cost of

AS O F

sales and N10.68billion finance cost in 2022 from N4.8billion in 2021 that eventually plunge its loss before tax to N26.84billion.

The reported revenue by the beer maker is the highest in 10 years, while loss before tax is the second highest since 2020 when the company announced N28.59billion loss before tax.

3 1 / 0 3 / 2 3 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

36

MONDAY APRIL 3, 2023 • T H I S D AY

37

MONDAY, APRIL 3, 2023 • T H I S D AY

MARKET NEWS A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange.

A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg.

Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 30Mar-2023, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 199.60 200.75 5.54% Afrinvest Plutus Fund 100.00 100.00 9.66% Nigeria International Debt Fund 331.83 331.83 7.28% Afrinvest Dollar Fund 107.29 108.39 1.76% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund N/A N/A N/A AIICO Balanced Fund N/A N/A N/A ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 5.97% Anchoria Equity Fund 155.63 157.24 7.37% Anchoria Fixed Income Fund 1.25 1.25 1.71% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com info@anchoriaam.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 23.43 24.14 6.77% ARM Discovery Balanced Fund 547.27 563.77 5.00% ARM Ethical Fund 47.36 48.79 4.98% ARM Eurobond Fund ($) 1.14 1.14 1.30% ARM Fixed Income Fund 1.13 1.13 1.69% ARM Money Market Fund 1.00 1.00 10.34% ARM Short Term Bond Fund 1.05 1.05 1.52% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 96.31 96.31 1.27% AVA GAM Fixed Income Naira Fund 1,128.50 1,128.50 0.18% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.16 2.16 4.22% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.41 2.46 8.70% CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalfif@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund Name Bid Price Offer Price Yield / T-Rtn Capitaltrust Halal Fixed Income Fund N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.02 1.02 2.09% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 11.40% Paramount Equity Fund 20.01 20.38 4.41% Women's Investment Fund 153.41 155.62 4.67% CHD Nigeria Bond Fund 102.27 102.27 12.12% CHD Nigeria Dollar Income Fund 1.00 1.00 10.49% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund N/A N/A N/A Cordros Milestone Fund N/A N/A N/A Cordros Fixed Income Fund N/A N/A N/A Cordros Halal Fixed Income Fund N/A N/A N/A Cordros Dollar Fund ($) N/A N/A N/A CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn 1.00 1.00 9.62% Coronation Money Market Fund 1.24 1.25 3.37% Coronation Balanced Fund 1.39 1.39 -1.36% Coronation Fixed Income Fund EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund N/A N/A N/A Emerging Africa Bond Fund N/A N/A N/A Emerging Africa Balanced Diversity Fund N/A N/A N/A Emerging Africa Eurobond Fund N/A N/A N/A FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund 1512.92 1512.92 11.97% FBN Balanced Fund 210.07 211.61 5.20% FBN Halal Fund 126.51 126.51 12.52% FBN Money Market Fund 100.00 100.00 10.99% FBN Dollar Fund 122.30 122.30 6.97% FBN Smart Beta Equity Fund 175.83 178.16 6.17% FBN Specialized Dollar Fund 106.56 106.56 9.43% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 7.43% Legacy Debt Fund 3.53 3.53 -11.83% Legacy Equity Fund 2.10 2.15 20.99% Legacy USD Bond Fund 1.28 1.28 6.10% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1

Fund Name Coral Balanced Fund Coral Income Fund Coral Money Market Fund

Bid Price 4,411.73 3,781.31 100.00

Offer Price 4,439.91 3,781.31 100.00

Yield / T-Rtn 19.86% 7.65% 11.57%

FSDH Dollar Fund 1.15 1.15 5.66% GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.gtcoplc.bank; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund N/A N/A N/A Vantage Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Kedari Investment Fund (KIF) N/A N/A N/A Vantage Equity Income Fund (VEIF) - June Year End N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.80 1.83 3.31% Lotus Halal Fixed Income Fund 1,183.60 1,183.60 1.99% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 13.00 13.07 5.59% Meristem Money Market Fund 10.00 10.00 11.85% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 102.95 102.95 9.98% Norrenberger Money Market Fund (NMMF) 100.00 100.00 11.50% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund N/A N/A N/A PACAM Fixed Income Fund N/A N/A N/A PACAM Money Market Fund N/A N/A N/A PACAM Equity Fund N/A N/A N/A PACAM EuroBond Fund N/A N/A N/A SCM CAPITAL ASSET MANAGEMENT LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital The Frontier Fund 131.26 134.36 4.41% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.02 1.02 11.02% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,844.13 3,870.91 13.34% Stanbic IBTC Bond Fund 247.52 247.52 5.07% Stanbic IBTC Ethical Fund 1.51 1.53 20.63% Stanbic IBTC Guaranteed Investment Fund 337.49 337.49 7.78% Stanbic IBTC Iman Fund 277.71 280.54 18.79% Stanbic IBTC Money Market Fund 1.00 1.00 8.99% Stanbic IBTC Nigerian Equity Fund 12,961.13 13,115.54 18.70% Stanbic IBTC Dollar Fund (USD) 1.39 1.39 7.39% Stanbic IBTC Shariah Fixed Income Fund 122.82 122.82 5.06% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 117.44 117.44 10.40% Stanbic IBTC Absolute Fund 4,668.32 4,668.32 9.74% Stanbic IBTC Aggressive Fund 3,448.32 3,490.03 24.01% Stanbic IBTC Conservative Fund 4,396.27 4,412.67 15.48% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 1.04 1.07 9.48% United Capital Balanced Fund 1.57 1.60 14.50% United Capital Wealth for Women Fund 1.27 1.29 9.50% United Capital Sukuk Fund 1.13 1.13 9.94% United Capital Fixed Income Fund 1.99 1.99 7.25% United Capital Eurobond Fund 127.17 127.17 6.03% United Capital Money Market Fund 1.00 1.00 9.51% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 14.60 14.74 5.30% Zenith ESG Impact Fund 16.58 16.75 4.90% Zenith Income Fund 23.96 23.96 1.70% Zenith Money Market Fund 1.00 1.00 9.75% VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 4.45 4.55 10.87% Vetiva Consumer Goods Exchange Traded Fund 6.97 7.07 19.08% Vetiva Griffin 30 Exchange Traded Fund 19.69 19.89 11.30% Vetiva Money Market Fund 1.00 1.00 10.09% Vetiva Industrial Goods Exchange Traded Fund 25.38 25.58 26.87% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 142.31 144.31 -9.73% REITS NAV Per Share

Yield / T-Rtn

115.40 53.52 101.31 9.94

1.31% 4.74% -12.96%

Bid Price

Offer Price

Yield / T-Rtn

16.75 139.01 110.92 17.40 16.40

16.85 141.42 112.84 17.50 16.50

8.21% 8.93% 10.94% -5.76% -2.79%

NAV Per Share

Yield / T-Rtn

106.75

0.00%

Fund Name

SFS REIT Union Homes REIT Nigeria Real Estate Investment Trust UPDC REIT

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

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

38

MONDAY APRIL 3, 2023 • T H I S D AY

MONDAY APRIL 3, 2023 • T H I S D AY

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MONDAY, APRIL 3, 2023 • T H I S D AY

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AT THE FIFA WOMEN’S WORLD CUP TROPHY TOURTM IN PARTNERSHIP WITH VISA… L-R: Director Corporate Communications Visa West Africa, Mr. Adebiyi Niyi; Regional Director, Branch Banking, Access Bank, Abuja, Neka Adogu; Visa Marketing Director, Seun Adaramola; Vice President and Head, Visa West Africa (English Speaking) Cluster, Mr. Andrew Uaboi, and Head, Debit Products Access Bank, Tolulope Adesomoju, at the FIFA Women’s World Cup Trophy TourTM in partnership with Visa at Abuja… recently

Agora Report: Nigeria's Anti-corruption Measures Not Yielding Desired Results Calls for strengthening of office of AuGF Seeks public disclosure of assets declared by public servants Emmanuel Addeh in Abuja A new report by Agora Policy, an Abuja-based think tank, has indicated that Nigeria’s impressive array of transparency and accountability measures were yet to yield the desired result on governance and development in the country, due to subsisting gaps in legislation, capacity, values and resourcing.

The report titled: “Imperative of Strengthening Nigeria’s Transparency and Accountability Measures,” while making a strong case for bridging the gaps, called for measures to make the anti-graft measures more effective tools for deepening good governance, service delivery, shared prosperity and democracy in the country.

“Whether now or in the future, Nigeria needs more transparency and accountability, not less,” stated the report released in Abuja and

produced with the support of MacArthur Foundation.

“As Nigeria prepares for a new government, a stocktaking of the transparency and accountability measures is desirable to ensure that the zeal for anticorruption is sustained and that the prevailing measures are fit for purpose, and further strengthened and institutionalised,” the report added.

Put together by a group of experts, the report stated that it examined 16 transparency and accountability mechanisms within four clusters: norms and values, public financial management, open disclosure, and sanctions.

Some of the measures assessed, Agora stated included asset declaration, freedom of information, public procurement, whistle-blower policy, annual and routine audits, government’s e-payment platforms (such as IPPIS and GIFMIS), publication of subnational transfers,

NCC Accelerates Broadband Penetration to Business Owners The Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, has reiterated the Commission’s commitment to continually drive initiatives that accelerate broadband deployment to increase penetration and make internet connection readily available to telecom consumers.

A statement quoted the EVC to have said this at the 10th edition of Business 360 Clinics organised by Abuja Enterprises Agency (AEA) in Abuja.

Speaking on the theme of the event, “Technology Utilisation and Innovation: Effects on SME Profitability and Productivity” in the context of the regulatory activities of the Commission, the EVC, who was represented by Assistant Director, Digital Economy, NCC Paul Okeke, noted that the NCC had been at the heart of providing the digital drive for transforming businesses and sustaining socio-economic activities in Nigeria.

During the panel session titled “Technology Adoption: A must for MSMEs Sustainability and Competitiveness (Challenges and Ease of Use),” Okeke highlighted

the Commission’s commitment towards technological and digital transformation in a manner that makes entrepreneurship seamless.

While addressing the issue of challenges on digital literacy, Okeke informed the audience that the Commission has strategic partnerships with various organisations including Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) which birthed initiatives such as Digital Economy Academy where business owners learn about security risks and online threats in a 12-course programme for 3 months.

Okeke charged entrepreneurs to leverage technology to harness the benefits of these initiatives to sustain their businesses.

“As a regulator of Telecommunication, the Commission is in active collaboration with other agencies in the Ministry of Communications and Digital Economy, as well as with other public sector institutions such as the Economic and Financial Crimes Commission (EFCC), Office of the National Security Adviser (ONSA) to ensure that policies become effective in curtailing cyber-attacks and threats on businesses,” Okeke stated.

disclosure of extractive sector revenues and beneficial ownership to prosecution and asset recovery.

“Most of the interventions have been made since the return to civil rule in 1999, and some of them have yielded some results and milestones.

Despite the achievements, the problem of transparency and accountability remains.

“The assumption that transparency and accountability automatically lead to good governance did not take into account attendant challenges such as social behaviours in the forms of resistance and sabotage,” stated the report.

The report also examined the rationales, histories, achievements and challenges of the selected transparency and accountability initiatives and made recommendations for improvements.

Some of the key recommendations included: the need to enhance legal backing for some of the initiatives, faithful enforcement or implementation of existing laws, improvement in capacity and funding for some of the implementing agencies, enhancement of collaboration across tiers of government, and implementation of a sustained and strategic campaign on value reorientation.

Agora further recommended the strengthening of the Office of the Auditor General of the Federation through improved staffing and better remuneration of the staff of the agency, and prompt presidential assent to the newly passed audit bill.

“While the Auditor-General of the Federation (AuGF) has a responsibility to eradicate corruption from Nigeria’s public finance system, this responsibility is limited to the extent that the country’s audit law permits,” stated the report.

“Nigeria needs a fresh law that guarantees independence and powers to sanction for the AuGF in line with established standard of the International Organisation of Supreme Audit Institutions (INTOSAI). Without the powers to sanction, the AuGF is more or less a toothless bulldog,” it added.

Agora urged President Muhammadu Buhari to sign the Federal Audit Service Bill into law before he leaves office, explaining that the bill, which was passed by the National Assembly on 29 March 2023, repeals the Audit Ordinance of 1956.

“The bill strengthens the operations and independence of the Office of the Auditor General of the Federation (OAuGF). It aligns with the present times and

with global best practices and it enhances the utility of auditing as a powerful transparency and accountability mechanism.

“President Buhari refused assent to an earlier version of the bill passed by the 8th National Assembly. He should quickly assent to the 2023 version once he receives a clean copy from the 9th National Assembly. Whatever misgivings the president may have can be accommodated in subsequent amendments. Buhari should see the law as one of his parting gifts to the country,” the think-tank stated.

The report also called for the amendment of Paragraph 3 (c) of the Third Schedule of the 1999 Constitution to ensure that assets disclosed by public officials can be made public by the Code of Conduct Bureau (CCB). It also argued for improved funding for CCB for the agency to be better positioned to discharge its important mandate, including the verification of assets declared by millions of public servants across the three tiers of government.

It also called for the passage of laws to back up the whistle-blower policy and the Open Treasury Portal so as to address grey areas and make them more binding and effective.

It advocated for greater investment in capacity building

and technology across the board in the fight against corruption in Nigeria.

“Technology remains the greatest enabler of transparency and accountability,” said the report.

“Thus, rather than contemplate the idea of going back on technologydriven platforms such as GIFMIS, IPPIS and the rest, the focus should be on how to improve them,” it stressed.

It added: “Capacity development should be prioritised as crosscutting. Capacity building to bridge gaps in technical knowledge and skills in anti-corruption agencies will go a long way to enhance the effectiveness of the relevant personnel in these institutions and, ultimately, strengthen transparency and accountability,” Agora noted.

The report noted the allegations of sharp practices even within some anti-corruption and oversight institutions and argued that such practices gravely undermine the mandate and the effectiveness of the institutions.

To address the disturbing development, the report recommended for government to undertake rigorous background checks on the boards, leaderships and staff of institutions with anticorruption mandates and institute adequate safeguards on the exercise of oversight powers.

PTI Graduates 48 NLNG Trainees Sylvester Idowu in Warri

The Petroleum Training Institute (PTI), Effurun, in Uvwie Local Government area of Delta State has graduated 48 Nigerian Liquefied and Natural Gas (NLNG) technical trainees.

NLNG had in 2021 entered into a contractually agreement with the PTI for specilalised training of its staff.

Speaking at the graduation ceremony of the 48 technical trainees over the weekend, at the campus of the institute, the Principal/Chief Executive Officer of PTI, Dr. Henry Adimula, said the agreement with NLNG was part of the mandate to provide competent technology manpower through quality training, consultancy and research for the petroleum and

allied industries.

He disclosed that the Nigeria NLG had doubts, just like other industry players, in the programme by the institute, adding that delivering the specialised training against all odds showed once again, the resilience of the management of the school in achieving set targets.

"We have never doubted our capability to deliver world class training despite the doubts of the industry players. Nigeria LNG also had some doubts which were very evident in the number of times their officials visited and held countless meetings with us before signing the agreement.

“Today PTl is proud to say we have delivered on a very technical training comparable with what can't be obtainable anywhere in the world," Adimula said.

The Principal and CEO of PTI commended the NLNG for opting for local training of its staff which he said would have cost the company huge sums of money running into millions of British pounds, "if converted into naira amounts to hundreds of millions, if not billions of naira."

He therefore appealed to the management of NLNG and other industry stakeholders to donate equipment to enable the institute embark on more technical trainings.

Adimula challenged the oil and gas and allied industry to patronise the institute for their technical training need inclusive of required certification and, "watch us deliver in our tradition of excellence."

The Managing Director PTI Consultancy Services Limited Dr. Oriri Omorodion, said the

graduation of the technical trainees of NLNG marked a significant milestone in the human capital development for Nigeria’s local content for the oil and gas and allied industries.

"This journey started in 2021 with an enquiry by Nigeria LNG Limited as to the readiness and capability of PTl to mount a specialised training for the company followed by visits to inspect our facilities and several meetings,” he added.

Omorodion disclosed that at the end of the training, the graduate trainees were awarded the following certifications: PTI Proficiency Certificate. IL NEBOSH International General Certificate (IGC). City & Guilds Level 2 Certificate in Leadership and Team Skills. And National Skills Qualification (NSQ)

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CELEBRATING WOMANHOOD ART GALA...

L-R: Ambassador of the Republic of Colombia, Ms. Maricel Romero Cantillo; Kebbi State First Lady/CEO, Medicaid Cancer Foundation, Dr. Zainab Shinkafi Bagudu; Managing Director, Nigeria Health Watch, Vivianne Ihekweazu, and Director, ProHealth International, Dr. Iko Ibanga, at the Nigerian Health Watch’s, ‘2023 Celebrating Womanhood Art Gala’ held in Abuja… recently

Minister Reiterates Plan to Demolish Privatelyowned Hangars to Expand New Terminal at MMIA Chinedu Eze The Minister of Aviation, Senator Hadi Sirika has reiterated his determination to demolish two private terminal facilities - Evergreen Apple Nigeria and Dominion Hangar - in the next few weeks to create space for the expansion of the apron of the new international terminal at the Murtala Muhammed Airport, Lagos.

The state-of-the-art terminal was unveiled early last year, but since then it has not been fully

utilised due to limited aircraft maneuvering space because of the small apron that cannot accommodate wide-body aircraft like Boeing B777 and others.

The minister made this known in Lagos at the weekend at the unveiling of new fire fighting vehicles, adding that it was necessary that the apron of the new terminal was expanded so that the facility would be fully utilised.

He noted that the practice of moving passengers to the old terminal after checking

them in at the new facility was cumbersome and time consuming.

"We are not operating Lagos airport at full capacity. We have some obstructions that will be removed within the next one or two weeks to expand the apron so that Lagos will have full use 100 per cent of the new terminal.

“We are going to demolish Dominion Hangar and Evergreen Apple Nigeria hangar to make way for the new apron and that would be in a few weeks,” he

said.

On the acquisition of new fire tenders, Sirika said the absence of fire cover at any aerod airport or inadequate fire cover was enough to either shutdown or downgrade the facility.

He recalled that the Sosoliso crash, which took place at the Port Harcourt International Airport, Omagwa on December 10, 2005, and killed 108 out of 110 on board, was tragically devastating because the fire could have been put off if there were adequate fire-fighting

EKSU: Oyebanji Promises Intervention through Collaboration with Stakeholders Gbenga Sodeinde in Ado Ekiti Ekiti State Governor, Mr. Biodun Oyebanji has said his administration would reposition Ekiti State University, Ado- Ekiti, as a centre of academic excellence with strategic collaboration with the university’s Council, management, unions, students body, parents and other stakeholders.

The governor stated this at the weekend, while receiving a delegation of the National Association of Nigeria Students (NANS) led by its Vice President, Mr. Akinteye Babatunde in his office.

He said he had to constitute the university council after rigorous but careful consultation and came up with people he believed could add value to the institution and help solve the myriad of problems bedeviling it.

He assured that his government would do what was administratively possible to return EKSU to its pride of place and save it from total collapse as he would not want to be seen as usurping the power and responsibility of the university council and that of management.

On their part, the NANS leadership sought the intervention of the governor in the tuition fee issue in the university.

Oyebanji, who is also the Visitor to the University identified what he called, “politicisation of school fees” by some political leaders as one of the sources of crises in the university.

He said a situation where school fees were reduced for political

reasons without recourse to or consultation with council and management in order to arrive at a realistic fees chargeable would always lead to crisis.

He stressed the need for all the stakeholders of the institution to have a meeting where the development and repositioning of the institution would be discussed so as to bring an end to all challenges once and for all.

Oyebanji, who noted that the institution was without electricity supply for more than 10 years, promised to restore electricity supply to the institution through the state owned Independent Power Project (IPP) as well as the timely completion of the 12kilometer road from Ado-Ekiti through the university gate to Iworoko, Ekiti, to make the campus more conducive for academic work.

He commended the maturity displayed by all unions in the institution thanking them for their perseverance, sacrifice and for having interest of the state and the students at heart.

“I’m obligated to EKSU, EKSU produced me and I’m proud of it. So, I plead with you to show patience and see what we are going to do, because I have confidence in the ability of the newly appointed council members to bring to bear their wealth of experience in ensuring that we have a university that works, university that gives you pride and which guarantee a stable educational system.

“As a government, we are working so hard to ensure that

we get electricity to that place, we are constructing the road to Iworoko. Part of the reason why we are doing that is to ensure that you have thoroughfare to campus and we’ve spent billions of Naira on that road just to make life easy for you.

“EKSU is sick, extremely sick and it’s in ICU and we have a choice to either live it to die and close it down or we attempt a revival of that institution.

“One thing I can assure you is that we can’t be emotional about the problem in EKSU, students complain that they don’t graduate on time, workers are not being paid regularly. You spoke about subvention.

“We have a choice either to push for a 21st century institution or a glorified secondary school, I went to the same university and I knew how it was then compared to now with respect to quality of education not minding the physical structures.

“I don’t know if you are aware, Mr. Vice President, that for the past 10 years, EKSU has no electricity despite having students studying Engineering and Computer Science, last week I demanded for what it will cost government to extend that state’s IPP to the university and they said it will cost N500 million, I will rather do that than ask the university to bear the cost.

vehicles.

He remembered the Loyola Jesuit students who died in the crash and said lack of fire cover guaranteed the death of the children who even survived the crash because they were later roasted alive by the fire.

The federal government acquired 10 Volkan Lion 6×6 fire fighting vehicles, which were delivered to the Federal Airports Authority of Nigeria (FAAN) Aeronautical Rescue and Fire Fighting Services (ARFFS) worth over N12 billion.

According to the Minister, the importance of the safety equipment could not be emphasised enough because they were key to safety, security and efficient take off and landinging of flights.

"To non- aviators and onlookers, you see fire-fighting equipment, but the importance and relevance is not brought onto focus, especially for people watching from afar whose only concern is to board aircraft and use air conditioned terminals.

“Well for us, that is important too, but most important is to keep you safe. You all remember our children that left Abuja for Port Harcourt in the Sosoliso crash? We couldn't save those children because even though the plane landed, crashed; they were still alive but the airport did not have adequate fire cover to save those ones and parents were seeing their children burnt alive, children they sent to school. That is so sad.

“For 15 years, no fire tender has been supplied to us, we just cannibalise two or three to make one. And the absence of fire cover is the number one reason to shut down airports and even if you dont have enough, you downgrade the airport to a lower category," he said Speaking earlier, in his opening remark, the Managing Director of FAAN, Captain Rabiu Hamisu Yadudu, said the 10 super-structure, ultra-modern major firefighting vehicles were to be deployed to MMA Lagos, Nnamdi Azikiwe International Airport (NAIA), Abuja, and Mallam Aminu Kano International Airport, Kano (MAKIA); disclosing that FAAN was processing additional vehicles for Port-Harcourt and Enugu airports.

Giving a breakdown of the capabilities of the equipment, Yadudu said," Each vehicle not only carries 14,000 litres of water; 1,700 litres of foam and 250kg powder capacity; it also monitors the discharge rate of between 6,000Litres to 10,000 Litres per minute. Acceleration rate is from 0 to 80km/hr in 30 seconds.

"The truck can discharge while in motion (professional pump and roll operation) and is equipped with under chassis nozzles to tackle running fuel fire. These vehicles would be deployed to MMA Lagos, NAIA Abuja and MAKIA Kano while we are also processing for additional vehicles for PortHarcourt and Enugu."

Senate Presidency: Don't Support Aspirants with Corruption Cases, Group Tells Tinubu Adedayo Akinwale in Abuja A group, Policy Advocacy and Integrity Network Nigeria has urged the president-elect, Mr. Bola Tinubu not to support any aspirant who has a corruption case for the office of the Senate Presidency.

It said this was to ensure that his administration does not take off with the blight of putting alleged corrupt personalities in high offices.

The group in a statement

issued yesterday, by its Executive Director, Josh Mesele, said the advice became necessary in view of the invitation letter allegedly extended to one of the aspirants by the Economic and Financial Crimes Commission (EFCC).

The anti-graft agency had last week summoned the former Minister of Niger Delta, Senator Godswill Akpabio to appear before it on March 29, 2023.

But, Akpabio through his lawyers had written back

pleading for more time to be able to be able to attend to his health abroad.

But the group insisted that Tinubu must be wary of who he supports for the positions of Senate President and Speaker of the House of Representatives.

It said: "We at Policy Advocacy and Integrity Network Nigeria think it expedient to advise the president-elect, Bola Ahmed Tinubu to be wary of who to support for the position of the Presidency of the Senate

or even the Speakership of House of Representatives.

“This is to ensure that his administration does not take off with the blight of putting corrupt personalities in those high offices.

"If an aspirant is being invited here and there by the anticorruption agencies, the onus is on such an aspirant to get himself or herself exonerated before throwing hats into the ring. That is the correct moral step to take," it added.

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UNVEILING AERODROMES RESCUE AND FIRE FIGHTING VEHICLES… L-R: Country Manager, Gulf of Africa International Ltd., Mr. Mohammad Javeef; Managing Director, Federal Airport Authority of Nigeria (FAAN), Capt. Rabiu Yedudu; Minister of Aviation, Capt. Hadi Sirika; Director, Airport Operations, Capt. Muktar Muye; General Manager, Aerodrome Rescue and Fire Fighting Services, (FAAN), Mr. John Ekpe; and Director General, Nigeria Safety Investigation Bureau,( NSIB), Engr. Akin Olateru at the inauguration of Aerodromes Rescue and Fire Fighting Vehicles at the department of Fire Service, FAAN, Murtala Muhammed Airport, Ikeja, Lagos...at weekend

New Breakthrough Drug, Dostarlimab Emerges for Cancer Treatment Onyebuchi Ezigbo in Abuja The world is on the verge of attaining a massive breakthrough in the development of drug for the treatment of the dreaded cancer disease.

Dostarlimab drug approved by the United States Food and Drug Regulatory Authority is a monoclonal antibody used as an anti-cancer medication for the treatment of cancer.

The drug regulatory authority also approved the trial test

conducted in Dostarlimab on at least 300 patients with various cancer diseases.

Although the confirmation of the efficacy of the drug was still at its preliminary states, scientists said such a success rate had never been recorded in the history of cancer treatment Doctors and medical experts in the United States said when administered to patients during drug trials, the cancer disease vanished completely.

A report on the medical breakthrough stated that

the development for cancer treatment has left doctors stunned. In the drug trial exercise conducted in the United States, 18 patients with rectal cancer were administered with Dostarlimab.

According to the report, doctors said it was like a miracle when they achieved a 100 per cent success rate as the cancer vanished completely all the 18 patients.

It said each of the patients’ tumor disappeared entirely within the six months of

treatment after post trial test.

The United States, dostarlimab was indicated for the treatment of adults with mismatch repair deficient (dMMR) recurrent or advanced endometrial cancer, as determined by an FDA-approved test, that has progressed on or following prior treatment with a platinumcontaining regimen. Platinumbased agents such as cisplatin, carboplatin and oxaliplatin were mainstays of treatment when it comes to cancer chemotherapy

SERAP Urges Buhari to Obey ECOWAS Judgments, End Prosecution for Cyberstalking Seeks reversal of N5m fine imposed on channels TV

Udora Orizu in Abuja

The Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to use his leadership position to immediately enforce the judgment by the ECOWAS Court of Justice prohibiting prosecutions of anyone on the grounds of ‘insulting’ or ‘stalking’ public officials online.

SERAP also urged him to enforce and implement the ECOWAS Court judgment compelling your government to respect, protect and promote freedom of expression, access to information and media freedom.

The organisation further urged the president to instruct Minister of Information and Culture Lai Mohammed and the National Broadcasting Commission (NBC) to reverse the arbitrary and unlawful fine of N5 million imposed on Channels TV for allegedly violating

the NBC code in a programme with the Labour Party vice-presidential candidate, Datti Baba-Ahmed.

In a letter dated 1 April, 2023 and signed by SERAP’s Deputy Director, Kolawole Oluwadare, the organisation expressed concerns about the shrinking civic space in the country as some state governors and government institutions were reportedly using the section 24 of the Cybercrime Act and other repressive laws to crackdown on anyone seeking to assert their human rights, and media freedom.

SERAP urged the president to send an executive bill to the National Assembly to repeal the provisions of Section 24 of the Cybercrime Act on the offence of ‘insulting or stalking public officials online’ by ensuring the deletion of the provisions from the Act, as ordered by the ECOWAS Court.

The letter read in part: “These

disturbing trends show the failure by your government to effectively comply with the country’s international obligations and the ECOWAS Court judgments on the Cybercrime Act and Twitter ban.

“If the two judgments are not immediately enforced and implemented, SERAP will consider seeking a Writ of Execution from the ECOWAS Court, and asking the ECOWAS Authority of Heads of State and Government to impose sanctions on your government for non-compliance with these judgments.

“By implementing the judgment, your government will be demonstrating Nigeria’s leadership within the ECOWAS sub-region, and sending a powerful message to other countries to embrace the rule of law and human rights.

“The processes for the sanctions are provided for under the 2015 Supplementary Protocol, the 2012 Supplementary Act on Sanctions

and the 1993 ECOWAS Revised Treaties. The sanctions may include judicial, economic and political sanctions.

“Some of the troubling trends showing restrictions on freedom of expression, access to information and media freedom include the recent arbitrary detention of journalist Agba Jalingo for allegedly publishing an article that was deemed ‘insulting’ to Elizabeth Ayade, the sister-in-law of Cross River Governor, Ben Ayade.

“Another case involves Ekene Obinali of Umucheke, a traditional ruler in Imo State who was reportedly arrested for allegedly sharing a post on a WhatsApp platform which was said to be critical of Governor Hope Uzodinma. Nnamdi Chude, a social media influencer, was also reportedly arrested for cyberstalking allegedly over a tweet he posted on electoral violence in Anambra State.”

treatment. It is also indicated for the treatment of solid tumors.

In the European Union, dostarlimab is indicated as monotherapy for the treatment of adults with mismatch repair deficient (dMMR)/ microsatellite instability-high (MSI H) recurrent or advanced endometrial cancer (EC) that has progressed on or following prior treatment with a platinum-

containing regimen.

In August 2021, the US Food and Drug Administration (FDA) granted accelerated approval to dostarlimab for adults with mismatch repair deficient (dMMR) recurrent or advanced solid tumors, as determined by an FDA-approved test, that have progressed on or following prior treatment and who have no satisfactory alternative treatment options.

LP Fingers APC in Leaked Audio, Says It’s Doctored, Aimed at Promoting Religious Tension Emameh Gabriel in Abuja The Labour Party has accused the ruling All Progressives Congress (APC) of doctoring a viral audio online, where its presidential candidate, Peter Obi, was heard in a phone call,soliciting help from Bishop David Oyedepo to speak with the christian community in some parts of the country on the eve of the February 25 presidential and national assembly elections.

The party, therefore, described the audio as one that was capable of instigating religious tension in the country, pointing that it was one of APC’s antics to shift public attention away from the party after allegedly grabbing power through the backdoor.

In the controversial audio also heard by THISDAY, Obi called Oyedepo of Living Faith Church (Winners’ Chapel) on the eve of the election and beckoned on him to pass messages to Christians across the Southeest and also to those in central states like Kwara, Kogi and Niger, saying the election was a 'religious war'.

“Daddy, I need you to speak to your people in the South-West

and Kwara, the Christians in the South-West and Kwara,” Mr Obi said in the audio, which is now trending online, adding: “This is a religious war.”

Responding, Oyedepo said, “I believe that, I believe that, I believe that.”

In his reply, Obi added: “Like I keep saying, if this works, you people will never regret the support.”

Replying again, Oyedepo said, “We look forward to God’s intervention,” and promised to circulate more messages to Christians on Obi’s behalf.

Reacting in statement, the Head Media, Obi-Datti Media Office, Diran Obifade, said APC's desperation to grab and retain power by foul means has refused to leave the party a month after the controversial presidential election.

He contended that, it was worrisome to note that while the Labour Party was toeing the constitutional path to retrieve its mandate, "those who have truncated the wishes of the majority of Nigerians have resorted to mischief and endless subterfuge to continue to hold on to what they know does not belong to them.

Edo Has Enough Gas to Supply Benin Republic Power for 100 Years, Says Duport Energy Park MD The Managing Director and Chief Executive Officer of Duport Midstream Company Limited, Dr. Akintoye Akindele, has said its Energy Park in Edo State has the capacity to supply Benin Republic gas to meet its energy needs for the next 100 years.

Akindele said this during a visit by a delegation from Benin

Republic, which comprised the Technical Assistant to the Minister of Energy, Republic of Benin, Badarou Raoufou; Marcus Fabrice; Dahome Edouard and Tokoudasba Eneric and other officials of government, in Egbokor, Orhionmwon Local Government Area of Edo State.

The MD expressed appreciation

to the Governor Godwin Obaseki-led state government for supporting the project and creating the right environment for businesses to thrive in the state, which informed the company’s decision to invest in the state.

He added that apart from gas and refining, the company generates power and could store

and restore data.

He noted that the facility in Orhionmwon has access to multiple gas fields that could be linked with pipelines for backup and scalability.

On his part, the Edo State Commissioner for Mining and Energy, Engr. Ethan Uzamere, said aside from gas and oil, Edo

State was blessed with abundant mineral resources, adding that the development of the Benin River Port and the Edo Inland Dry Port would accelerate the movement of minerals and other commodities from the state to other countries in Africa and beyond.

According to Uzamere, “As you may be aware, Edo State is also

big in mining. We have a high supply of bitumen just to mention a few. Because we are a logistic hub, that is why we are developing the Benin River Port which will help in the transportation of minerals and other commodities. So, we are looking forward to seeing you doing business in Edo State apart from the gas you came for.”

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FREE NIGERIA MOVEMENT...

L-R: Member, Free Nigeria Movement, (FNM) Maazi Ezeoke; member, FNM, Mrs. Ndidi Mbagwe; Coordinator, National Youth League for Defence of Democracy, Anngu Onigu, and National Leader, FNM, Moses Paul, during a press conference calling for the immediate removal of the Chairman, Independent National Electoral Commission (INEC), Professor Mahmood Yakubu, over the irregularities in the 2023 presidential elections, in Abuja... recently ENOCK REUBEN

Wike’s Police Arrested APC Lawyers Filing Petitions in Rivers, Cole Alleges Police deny allegation Blessing Ibunge in Port Harcourt Governorship candidate of the All Progressives Congress (APC) at the March 18 election in Rivers State, Mr Tonye Cole, has alleged that police personnel working for Governor Nyesom Wike of the state had arrested the party's lawyers filing evidence for election tribunal.

But the Commissioner of Police in the state, Mr Okon Effiong, has denied that his men detained the three APC Lawyers filing petition ahead of the election tribunal.

The APC gubernatorial candidate made the allegation yesterday, during their visit at the State Criminal Investigation Department (SCID), in Port Harcourt, to demand for release of the sensitive materials

seized from the party lawyers.

Speaking to journalists, after meeting with the police administrators at the SCID, Cole stated that the arrest of the lawyers preparing petition ahead of the election in the state, was a traumatic experience for democratic process.

He said almost two days after the arrest, the police allegedly delayed release of the sensitive materials and other personal documents seized from the lawyers as presented by the party's agents.

"It has been a very traumatic process for our democratic process.

It started with the arrest of our lawyers that are preparing for the tribunal. All evidence, their draft and written space was seized. That was too dangerous, leaving those

NASR Partners Augie-Kuta to Tackle Abdominal Obesity James Emejo in Abuja The National Action on Sugar Reduction (NASR), has partnered with celebrity photographer, Aisha Augie-Kuta to launch the “#BigBelleFitKillPerson” campaign aimed at creating awareness and addressing abdominal obesity affecting 47 million Nigerians.

NASR is Nigeria’s leading advocacy group for the reduction of sugary drinks.

The campaign featured striking visuals aimed at highlighting the health risks of abdominal obesity – a major risk factor for non-communicable diseases (NCDs) like type 2 diabetes and heart disease.

Increased consumption of sugar-sweetened beverages (SSBs) is one of the major causes of obesity in Nigeria.

According to the group, “Many Nigerians associate obesity with simply being chubby or fat and do not recognise that a build-up of abdominal fat, or a potbelly amounts to obesity. This feeds into the common misconception that people with pot bellies are only living the good life.”

Essentially, it noted that the campaign “dispels this myth by highlighting the health risks of abdominal obesity and its link to the consumption of sugary drinks.

“Large amounts of belly fat can raise the risk of heart disease,

hypertension, stroke, and type 2 diabetes.”

In a statement, Secretary of NASR, Omei Bongos-Ikwue, pointed out that research had shown that almost six million Nigerians suffer from hypertension due to obesity.

Bongos added that the campaign would help change public perception about what it means to be obese as most Nigerians do not recognise that they may be at risk due to excess belly fat.

The campaign also signalled NASR’s continued commitment to reducing sugary drinks consumption in Nigeria while promoting overall health awareness among its citizens.

Meanwhile, Augie-Kuta’s striking images portray the real meaning of obesity for women and men. According to science, obesity amounts to a waist circumference that exceeds 88 cm in women and 102 cm in men.

NASR is committed to reducing sugary drinks consumption in the country through policy advocacy and behavioural campaigns.

Since its inception, NASR has been involved in several initiatives aimed at promoting healthy lifestyles through education campaigns and policy changes.

The group was responsible for the introduction of Nigeria’s sugar-sweetened beverages tax in 2021.

things in the hands of unknown persons, because that carries the base of our case and so we have to start putting pressure on the police.

"Yesterday, we got all the lawyers released on self record, the assistant ad hoc staff that was working with them was released on bail and the party chairman stood in for them.

What we had to make sure were released of all the evidence, the EC8A, EC8B, and most people know that these are the agents copy, evidence that we had an election, if those things disappear, it means that APC was not in the field at all and we couldn't allow that.

"We stayed back and we have collected our copies back. INEC sent persons to come and verify the documents, the ICT person came to verify whether the EC8A

and EC8B copies were authentic agent copies.

"I remember speaking to the REC this morning asking him if ICT person need to come and verify a document and why they were not sending some from legal and he assured me that they have authorisation to verify their documents, we accepted it since its INEC sending them.

"The move was a calculated attempt to stop us from going to the tribunal, the people that arrested us is a group called Wike police and Wike police station.

This must stop. We cannot have two separate groups of police in a state.

"This group is the same one used in hijacking election materials, used for arresting all our people, arrested candidates. This must stop,

we cannot have a group of police force and another group of police in the state. It was the ones from the surveillance and intelligence unit," Cole said.

However, the police commissioner, who spoke on Channels Live yesterday evening, said although the lawyers were arrested on suspicion of electoral fraud, both the lawyers and materials were released after the authenticity of the EC8A materials were confirmed.

Effiong also dismissed the allegation that the police in the state were political and aiding the governor and as such frustrating efforts of other political parties.

"The police do not have the technical confidence to verify the authenticity of the documents.

We discovered that the documents

seized from the APC were not fake and we immediately released it.

There was no point we detained the lawyers.

"It was never against APC and others. The command structure is totally intact. Several times party structures raised false alarm but the Police Force remains intact, apolitical."

While assuring people of the safety of the election tribunal in the state, Effiong said, "Check the records of what we have in election in Rivers and now, it is in record that this year's election is the best in the past 10 years. Rivers State is peaceful. From the beginning, I gave a commitment that there will be a free and fair election in Rivers State. And I am also assuring them that the election tribunal in Rivers will be safe."

Delta APC Suspends NDDC Chairperson, Lauretta Onochie Five leaders also in Offa LGA National ex-officio, Sirajo Dada, expelled in Bauchi Segun Awofadeji in Bauchi, Hammed Shittu in Ilorin and Sylvester Idowu in Warri The Chairperson of the Niger Delta Development Commission (NDDC), Lauretta Onochie, has been suspended by the Delta State All Progressives Congress (APC) over alleged anti-party activities.

Also, the gale of suspensions has also extended to Kwara State as the party leadership in Offa Local Government Area, weekend, announced the suspension of five of its leaders from the party over an alleged anti-party activities.

At the same time, a National Ex-offico of the party from Bauchi State, Alhaji Sirajo Dada, has been expelled by the party in Gamawa Local Government Ares of the state.

However, the party in Delta, after a review of Onochie’s conduct during the just concluded general election, approved her suspension from the party.

The executive members of APC in Onicha-Olona, Ward 4 in Aniocha North local government area of the state accused her of campaigning for candidates of opposition parties, especially the Peoples Democratic Party (PDP).

According to her suspension letter, her allies and supporters were said to have also worked

for the PDP making the party to lose in her polling unit and other places.

A loss of confidence issued on her, included that she has never met her financial obligations to the party neither has she attended Ward, LGA meetings or any of the party’s engagements. The suspension letter signed by 27 Ward Executives.

In offa, those suspended by the party leadership included, Mr. Lateef Afolayan, Mr. Bashir Olaoti, Mrs. Folake Shittu, Mr. Yusuf Abdulkadir and Mr. Bashir Oyeyemi.

A statement jointly issued by the APC chairman in Offa local government, Hon. Kunle Adegboye and Secretary, Hon. Banwo Rasheed, said that, the decision to suspend the erring members was reached at the end of an enlarged meeting of party members which had all the twelve wards chairmen, local, senatorial and state executives of APC in attendance.

According to the statement, those suspended were found culpable of some unwholesome political activities in the February 25th general elections, saying the suspended members of the party had taken the party to court despite several attempts to persuade them not to engage

in such acts.

Meanwhile, the APC leadership in Share wards 1, 2 and 5 in Ifelodun LGA of the state, had last Friday announced the suspensions of a former Senator representing Kwara South senatorial district, Senator Suleiman Makanjuola Ajadi; a Special Assistant to Governor Abdulrahman Abdulrazaq on Youth Matters, Hon. Rasaq Apaguntan and 10 others for allegedly working against the APC during the last general elections in the state.

But the state chairman of the party, Mr. Sunday Fagbemi, urged the organs of the party across the 16 local government areas of the state to shelve punitive measures against any member and instead embrace peace and reconciliation.

Nevertheless, a statement issued in Ilorin yesterday and signed personally by Fagbemi expressed concerns over reports of suspension of some party members at their ward levels in the state.

While the party agreed that no organisation survives without discipline and respect for leadership, the chairman said, "It is also important to build group cohesion through conciliation and consensus building.".

From Bauchi, the decision to

expel Dada, was said to have been taken at the end of an emergency meeting of the Executive Council of the APC in Gamawa LGA following what was described as anti-party activities.

While making the announcement at the APC Secretariat in Gamawa on Saturday, Chairman of the APC in Gamawa LGA, Ahmed Saleh Super, said, though it was a difficult decision to take, the EXCO had no option but to be hard in order to instill discipline in the party.

The APC LGA Chairman added that, "Sirajo Dada really worked against the success of the APC in the LGA during the 2023 general election. He was caught going round decampaigning the candidates of the APC. Sirajo Dada went against the stance of the APC, he campaigned for the candidate of the PRP for the House of Representatives seat.

He was accosted by leadership of the APC but he glaringly refused to listen.

"Having refused to be remorseful about what he did, the EXCO met and came to this decision. He is hereby expelled from being a member of the APC in Gamawa LGA. We have served him with the letter to that effect and copied the State EXCO through the State Chairman."

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NEWS

KADUNA GOVERNORSHIP ELECTION IN FOCUS...

L-R: Team Leader, Centre for Strategic Conflict Resolution, Dr. Isaac Iduma; National Coordinator, Coalition of INEC Accredited Observer Group for Credible Election in Nigeria, Romanos Azubike; National Coordinator, Society for Social Value and Early Childhood Development, Ajiya Mariam Aba and Secretary, Intercontinental Leadership Initiative, Godbless Ify, during a Press conference by the groups on governorship election in Kaduna held in Abuja recently ENOCK REUBEN

Nnamani: Obi Introduced Religious, Ethnic Politics into Nigeria's Democracy Says he practised Roman Catholic dominant politics in Anambra Sunday Aborisade in Abuja A former Governor of Enugu State, Senator Chimaroke Nnamani, has insisted that

the presidential candidate of the Labour Party (LP), Peter Obi, introduced religious and ethnic politics into Nigeria's democracy.

Ayade on Cross River Govelect: We Went for the Best Cross River State Governor, Professor Ben Ayade, has described the state's governorelect, Senator Bassey Otu, as the best material for the state.

The governor spoke at the State Executive Council Chamber of the Governor's Office in Calabar while receiving Otu, his deputy, Hon Peter Odey, the National and state Assembly members-elect of the APC, who came to show him their certificates to return.

According to Ayade, "In traditional Nigerian politics, you install your boy, a puppet so that you can control him afterwards. But, here in Cross River, we went for the best; our governor-elect, Senator Bassey Otu is the best.”

The governor insisted that credit for the success of Otu at the governorship election should go to God, "because all praise belongs to Him on this victory.

Let us give God the praise. I give my gratitude to God for being able to have a successor, not just a successor but a successor from the Southern Senatorial district.

"We came out victorious even when people stood against our Back to South agenda," adding his fervent wish and prayer for the incoming governor was for him to outperform and outshine him in office.

"I know Bassey Otu has a good heart. I know he has a spirit of enterprise, the power of innovation, so l encourage him to be a super shining star so that Ayade would just look like a joke where you are.

"I believe that we have got a very good man in Senator Bassey Otu. Otu is the finisher, the polisher of the solid foundation we have laid; he has the understanding of the gargantuan master plan of Cross River State. It is my wish to see you do much more than I have, while l sit back to provide any kind of support you so wish.

Earlier, Otu said he and other elected politicians on the platform of the APC "are here to thank you for standing by us. For all you have done, Your Excellency, may God continue to bless you"

Nnamani made the allegation yesterday in a statement personally signed, saying he was reviewing the just concluded elections, Nnamani, the Chairman, Senate Committee on Cooperation and Integration in Africa and representing Enugu East in the Senate, further alleged that, "Peter Obi deflowered the virgin innocence of political patriotism and nationalism in Nigeria."

"Obi fed our people with the sacred apple and Nigeria may never be the same again. What was in whispers and hushed, hushed tones, Peter proclaimed loud in decibels in Cathedrals and Holy Sepulchers.

"The Roman Catholic dominant politics Peter mastered and foisted on Anambra people, when he was a governor was a prelude to his nationwide campaigns.

"The Roman Catholic Family Trinity of Mary,

Joseph and Jesus, was what Peter spread ecumenically across the faith landscape as the Labour Party Symbol of Father, Mother and Child.

"Peter's religious war in garbs of Labour Party politics were nationalised and universalised for all Christian dominations amongst Nigerians home and abroad.

"For his ethnic war, he spread across Igbo domiciled areas across Nigeria, specifically markets and

shopping malls. He picked out Christian minority areas for his campaigns in northern and central Nigeria. His dual opium of tribalism and religious bigotry have made national landing to depart no more".

Nnamani, however, recalled that an Enugu Catholic Priest Rev. Fr. Ejike Mbaka of the Adoration crusade had publicly apologised for the partisan role the church played during the elections.

Kano Govt Constitutes 17-member Transition Committee Ibrahim Shuaibu in Kano The Kano State Executive Council, has approved the formation of a 17-member Transition Committee for the proper handing of leadership to the incoming administration in the state.

The council also approved a 100-member sub-committee, which constitution would be drawn from various Ministries, Departments and Agencies (MDAs).

Commissioner for Information and Internal Affairs, Malam Muhammad Garba, who dropped the hint while addressing newsmen on the outcome of the council’s weekly meeting, yesterday, said the governor-elect was expected to give three representatives for the main

committee.

He said the committee, which was under the chairmanship of the Secretary to the State Government, Alhaji Usman Alhaji, has the following as members: Head of Civil Service, Attorney General/Commissioner of Justice, Commissioner for Information, Commissioner of Environment, Commissioner of Commerce, Industry and Cooperatives.

Others were Commissioner for Planning and Budget, Commissioner for Local Government, Commissioner of Works and Infrastructure, Commissioner of Finance, Commissioner for Education, Director-General, Bureau for Land Management, Director-General, Research and Documentation,

Managing Director, Urban Planning and Development Agency, while Permanent Secretary, Research Evaluation and Political Affairs, REPA would serve as secretary of the committee.

Garba stated that the main committee would, among other things, work in harmony with a view to assiduously writing and submitting a final transition/handing over report within three weeks.

The commissioner revealed that the main Transition Committee has been mandated to commence the process of transition programme and also document the achievements recorded within the two tenures of the administration of Governor Abdullahi Umar Ganduje.

He said the committee would

also obtain and analyse reports from MDAs in terms of major accomplishments, including ongoing projects/programme in relation to level of execution/ fiscal profile, problems, constraints etc from May 25 to date.

Garba further pointed out that the committee was tasked to coordinate and facilitate activities of the sub-committee on transition, collate and compile their report as well as write and submit a Final Transition and hand-over report for the incoming administration within four weeks after inauguration.

The committee, he added, would be inaugurated by Ganduje on Tuesday by 2pm at the Africa House, Government House, Kano.

NNPP National Chairman, Alkali, Resigns Juliet Akoje in Abuja.

The National Chairman of the New Nigeria People's Party (NNPP), Prof Rufai Ahmed Alkali, has resigned as the head of the party.

In a statement personally signed and dated March 31, he stated that his decision to step

aside was to give room for fresh hands to take over and build upon and improve on his modest contributions.

The statement further read: "Following keenly the events before, during and after the recent general election held on 25th February and 18th March 2023, it is my humble view that

our party, the NNPP, has a great future and potential to emerge as the leading political force that is capable of winning the presidential and all other elections in 2027.

"To achieve this, we must think ahead and plan ahead. And the time is now. Our great party, the New Nigeria People's Party will

require major and fundamental structural and systemic changes and reorganisation at all levels of the party in order to strengthen its base, improve its operational capabilities and generally enhance its competitive advantage over and above all the other 17 political parties on the INEC nominal roll.

"Since, we as a party, all

believe in and aspire to bring in a better Nigeria through the astute leadership of our Leader, His Excellency, Senator Rabiu Musa Kwankwaso, I believe, no sacrifice is too much from each and every one of us.

"I wish to inform our National Leader and Presidential Candidate, His Excellency,

Senator Rabiu Musa Kwankwaso, members of the National Working Committee (NWC) and our entire members nationwide that I am still and will remain a bonafide member of our party and I pledge to serve and offer support to our party at all levels to ensure the continued progress and advancement of our party.”

MONDAY APRIL 3, 2023˾ T H I S D AY

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NEWS

AXXELA MANAGEMENT VISITS PETROLEUM SECTOR REGULATOR…

L-R: Head, Business Stakeholder Management, Axxela Babatunde Baba-Agba; Senior Technical Assistant to the Chief Executive, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Ayuba Zakka; Chief Strategy & Services Officer, Axxela, Olufisayo Duduyemi; Chief Executive, NMDPRA, Farouk Ahmed; Chief Executive Officer, Axxela, Bolaji Osunsanya; and Head, Regulatory Liaison, Axxela, Henry Sanyaolu, during a courtesy visit to the NMDPRA office in Abuja…recently

DHQ: Troops Vanquish 11 Terrorists, Intercept Small Arms, Ammunition in Kaduna Terrorists storm federal varsity, Gusau, kidnap two female students KingsleyNwezehinAbuja The military high command, weekend, confirmed the killing of 11 terrorists in five villages in Birnin Gwari Local Government Area of Kaduna State.

In a statement issued in Abuja, the Director, Defence Media Operations (DDMO), Maj Gen

Musa Danmadami, said troops of Operation Whirl Punch, in conjunction with Defence Headquaters Special Forces, yesterday conducted clearance operations in terrorists’ enclaves at Bagoma Rema, Bilugai, Dagara Sabon Layi, Gagumi Katakaki and Randagi villages all in Birnin Gwari Local Government Area of Kaduna State.

Also, there was pandemonium at the Federal University, Gusau, Zamfara State, Saturday night, as heavily armed terrorists stormed Sabon Gida village location of off- campus students’ hostels and kidnapped two female students of the university.

Musa said troops made contact with terrorists at Kakangi and Katakaki villages and engaged the terrorist with superior fire power.

Troops exploited the general area and recovered two AK 47 rifles, two AK 47 magazines, 57 rounds of 7.62 mm special ammunition, seven machetes

and six motorcycles among other sundry items.

Defence Headquarters “commended troops of Operation Whirl Punch and encourages the general public to avail troops with credible and timely information on criminal activities”, the statement said.

Meanwhile, there was pandemonium at the Federal University, Gusau, Zamfara State Sunday night, as heavily armed terrorists stormed Sabon Gida village at the Federal University, Gusau off-campus hostels and kidnapped some female students.

NDLEA Declares Prophetess, Celebrity Imo LP Assembly Candidates Blame Couple Wanted over Seized Illicit Drugs REC for Rigging March 18 Poll Michael Olugbode in Abuja

Amby Uneze in Owerri The Imo State Labour Party(LP) State Assembly candidates in the March 18 election have blamed the State Resident Electoral Commissioner (REC) of the Independent National Electoral Commission (INEC), Prof. Sylvia Agu, for supervising the massive rigging of the State House of Assembly election in the State.

The candidates, who addressed a press conference in Owerri, decried the activities

of the REC and other staff of INEC for working closely with the State government to rob Imo people of their legitimate votes to their preferred candidates.

In a communique read by the LP candidate of Orlu State Constituency, Mr. Precious Nwadike, on behalf of other 26 candidates of the party, however, called for the sack, investigate and prosecution of the REC for allegedly manipulating the entire process of a election.

NASU- NACETEM Cautions Minister against DG Appointment

YinkaKolawoleinOsogbo

The Non- Academic Staff Union of Educational and Associated Institutions (NASU) of the National Center for Technology Management (NACETEM), Ile-Ife, Osun State, at the weekend cautioned the Minister of State, Federal Ministry of Science Technology and Innovation, Mr. Ikechukwu Ikoh to be guided on the appointment of Director General for NACETEM. This was disclosed in a statement signed by the NASU-NACETEM

Branch Chairman: Olumide Fadakinte; NASU-NACETEM Secretary: Taiwo Adesiyan and the Treasurer, Ayodele Odu over the weekend.

According to the statement, stakeholders were not pleased with how Ikoh sidelined the due process established for the appointment of the agency’s Director General.

It frowned at the parallel committee formed by Ikoh to allegedly destabilise the already established and recommended process.

The National Drug Law Enforcement Agency (NDLEA), has declared a Port Harcourt, Rivers State-based popular prophetess and founder of Christ Power Adoration Ministries, Faith Ugochi and a celebrity couple

- Igho Ubiribo and Danielle Allen - who were arrowheads of an international syndicate operating from Los Angeles, United States of America wanted for recruiting teenage girls into drug trafficking.

A statement yesterday, by the spokesman of the anti-narcotics

agency, Femi Babafemi, stated that the lid was blown off the cartel when NDLEA operatives at the NAHCO import shed of the Murtala Muhammed International Airport, Lagos intercepted a consignment of 32.7 kilogrammes of Loud, a strong variant of cannabis concealed in

cartons of used wears on 16th November 2022.

A freight agent, Ukoh Oguguo, was subsequently arrested while further investigations that led to the arrest of four more suspects Chikodi Favour; Obiyom Shalom; Nnochiri Promise and Edward Omatseye (aka Montana).

Ogun Guber Poll: APC Youths Advocate Suspension of Daniel over Anti-Party Roles James Sowolein Abeokuta The All Progressives Congress (APC) National Youth League, Ogun State Coordinate, has called on the national leadership of the party, to immediately suspend a former governor of the state and Senator-elect for Ogun East Senatorial District, Gbenga Daniel, for allegedly working

against the party in the March 18, governorship and House of Assembly election in the state.

The APC Youth League, which equally urged the party leadership to strip Daniel of every privilege of being a member of the ruling parry, also demanded that the former governor should be compelled to refund the money he allegedly got from

the APC to prosecute his own election.

These calls were contained in a letter entitled, ‘Need to Sanction Otunba Gbenga Daniel, SenatorElect, Ogun East Senatorial District of Ogun State’, dated March 31, and jointly signed

by Fayomi Yunus and Abbas Olanrewaju Ismail, the State coordinator and state secretary

of the League, respectively.

According to the letter addressed to the National Chairman of the APC, the former governor was found out to have vehemently worked against the interest of the APC during the elections in the state, a situation which almost scuttled chances of victory of the party at the poll.

97 Lagos Deceased Workers’ Families Get N190m Insurance Benefits Segun James

Lasaco Assurance Plc has presented over N190 million death benefits to families of 97 deceased staff of both Lagos State Universal Basic Education and Local Government and Community Affairs.

In the public presentation

chaired by the Special Assistant to the Lagos State Governor on Local Government and Community Affairs, Mr. Kayode Robert, appreciated Lasaco for consistency in handling the Group Life Scheme over the years.

The Managing Director of Lasaco Assurance, Mr Razzaq

Abiodun, traced the genesis of the group life scheme for the civil and public servants in Lagos State to the administration of former Lagos State Governor who is now the president-elect of Nigeria.

He confirmed that Lasaco had paid almost N3 billion as death benefits to the beneficiaries

of 1,356 deceased staff since 2017, that they began public presentation of death benefits on the particular scheme.

Abiodun, used the opportunity to praise the state government for prompt payment of premiums, noting that there were few state governments committed to insurance on a consistency basis.

Katsina NNPP Assembly Candidate Demands Review of Election Results of ballot papers used for the Barkiya wards of Kurfi local But Iliyasu, in a petition letter

Church to Unveil Education Francis Sardauna in Katsina March 18 elections. government of the state. signed by Gachi and submitted Iliyasu, who petitioned the Kurfi is among the three to INEC, expressed dissatisfaction The candidate of the New Empowerment Programme Nigeria Peoples Party (NNPP) INEC in Katsina through his local governments in Katsina with the results declared by the Yetunde Bello The Christ Ambassador’s Fellowship has announced its readiness to unveil education empowerment programme for indigent students who are gifted.

This is being done under the Christ Ambassador’s Education Endowment Fund (CAEEF) based in Lagos.

The church made this known via a press release signed by Mrs. Adeoti Adejuyigbe. The education

empowerment programme with the theme:”Project Unveil”, according to the statement, will hold on Saturday, April 8 at 3pm at Radisson Blu, Ikeja.

The statement further explained that the current economic difficulties the country is facing requires an intervention like this, which is to help smart, intelligent and purposeful children from less privileged homes, as a way to make them utilise their talent.

for Kurfi State Constituency in Katsina state, Shuaibu Iliyasu, has petitioned the Independent National Electoral Commission (INEC) and demanded a recount

lawyer, B.S. Gachi, is asking the electoral umpire to review the election results by recounting the ballot papers used for the exercise in Wurma A, B and

State where the state Assembly election was declared inconclusive by INEC over purported cases of violence and over-voting.

returning officers of the affected electoral wards, and urged the INEC to review the election by recounting the ballot papers used for the exercise.

Group Urges APC to Cede Senate Presidency to North-west Ibrahim Shuaibu in Kano

The National Alliance for Legislation and Good Governance, (NALGG) has called on the All Progressives Congress (APC), the president-elect and

other stakeholders to shift the leadership of the 10th National Assembly to North-west and micro-zone it to Kano state.

This was contained in a statement that was jointly signed and issued to THISDAY

by the Convener of the group, Comrade Muhammad Auwal and the group’s Secretary, Dr. Mujitapha Bello.

The body of experts, which includes academics, social commentators, journalists and

other professionals based the demand on the premise that It is no doubt, APC’s victory at the just concluded elections, especially the National Assembly, was a collective task across the country.

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MONDAY APRIL 3, 2023 ˾ T H I S D AY

NEWS XTRA

CAMPAIGN AGAINST ALCOHOL ABUSE…

L-R: Deputy Director, Public Affairs, National Agency for Food and Drug Administration and Control (NAFDAC) , Mrs. Christiana Obiazikwor; Executive Secretary, Distillers and Blenders Association of Nigeria (DIBAN),Mr. John Ichue; representative of the Minister of Health, Mrs Olubunmi Aribeana; Advocacy Lead, DIBAN, Mobolaji Alalade, during the launch of the third phase of campaign against underage drinking and excessive consumption of alcohol in Lagos... recently ETOP UKUTT

Gunmen Kill One, Kidnap Pastor, Four Others in Benue

George Okoh In Makurdi

Armed gunmen invaded the Christians Pentecostal Church located at Akenawe, Tswarev in Ukemberagya/Tswarev, Logo local government area of Benue state, killed one man and kidnapped four others.

According to a local source, the gunmen had at about 11am, opened fire on the Christians while Sunday morning healing mass was ongoing.

Confirming the incident, a community leader and President, Gaambe-Tiev Youths Association (GYA), Dr. Hemen

Terkimbi, disclosed that one person was killed in the process of the attack, five people injured while four other worshippers including the resident pastor, Rev. Pst. Gwadue Kwaghtyo were captured and taken to an unknown destination.

He stated that those who sustained severe injuries including Ag. Kindered Head of Akemkpa, Zaki Tyokase Ingyutu, who was wounded on the head, are currently receiving treatment at different hospitals in Ugba and Anyiim areas of

Logo Local Government Area.

Terkimbi described the attack as barbaric, which must be condemned in strong terms.

He said it was unfortunate that innocent defenseless worshippers could be attacked by heartless persons while

worshipping God on such a Holy day.

Terkimbi called on security personnel to comb all the nooks and crannies of the affected areas to ensure that the attackers were arrested and made to face the wrath of the law.

Family Cries out Over Fugar Royal Family Petitions IG over Murder of 35-Year-Old Daughter Missing Bolt Driver Adibe Emenyonu in Benin City

SundayEhigiator

The family of one Aiyu Eromosele Thomas, a commercial driver with Bolt Rider Company in Lagos, who has been missing for approximately two months, has called on members of the public and the Nigerian Police Force to speedily come to their rescue.

Speaking with THISDAY, yesterday, the elder brother, Aiyu Etiose Godwin, said his brother left home at exactly 7:30 am on February 1, 2023, for his daily business and has not been seen since then.

According to him, “My brother Aiyu Eromosele Thomas, 34 years old, resides at number 70 Imole Avenue, Ajasa command, Lagos.

He left his house for commercial driving activities at about 7:30 am on February 1, 2023.

“He drives a Grey Toyota Corolla, with registration number GGE583GX, which he registered with Bolt Rider company for the taxi activity.

“When he did not return and his phone numbers did not go through, my mother, who was staying in his house at the time, raised the alarm.

‘C’River People Have Confidence in Otu’ Bassey Inyang inCalabar The Managing Director/Chief Executive Officer of SEMED NIGERIA, Mr. Emeng Anthony, has described the election of Senator Bassey Otu for the position of governor of Cross River State as a clear demonstration of the people’s confidence, and collective resolve to enthrone a “season of sweetness” in the state.

Anthony, an Abuja based business mogul, made the assertion in Calabar while reacting to Sen. Bassey Otu’s victory during the March 18 gubernatorial election.

He told journalists that the

tenure of Otu as governor from May 29 would usher in a season of sweetness for every Crossriverian.

The managing director said that the people of the state should be optimistic that Otu’s administration would give them a new lease of life, and would meet their earnest dreams, aspirations and expectations.

“Without any doubts, a peopleneeds-driven government inspired by a people-first agenda will birth massive human, infrastructural, and economic transformation across the state while calibrating our wheels of progress and development,” he said.

The Inspector-General of Police (IG), Usman Alkali Baba, has been petitioned by members of Ivhigbanakhu Royal Family of Fugar in Etsako Central Local Government Area of Edo State to set up another team to re-investigate the murder of their daughter, Mrs. Semira Uwaya,

35, mother of two-year-old girl.

The family, through their lawyer, Joshua Igumah, yesterday in Benin, accused Semira’s husband, Promise Uwaya, of Sabbo Iyakpi in Etsako West LGA of Edo State, now in police custody, of being behind her agonising murder, in view of his activities few days to the incident.

They said the young woman

was okay, prior to hearing of her death in the afternoon of March 4, 2023, and that the way the deceased’s husband handled the matter created suspicion, hence the need to report the horrifying death to the police at Sabbo Iyakpi, rather than for members of the family to take the law into their own hands.

Semira’s husband, according to

the police, claimed that his wife died around 2 a.m. on March 4 this year, and that while feeling ill, he asked his brother, Sunny Nwaya, to take him to Hope Clinic, Jattu in Etsako West LGA at 6 a.m. on the same day, demanding that he be admitted, while leaving his wife’s body at home, without informing her family members.

Panel Investigating Alleged Infractions by Anambra Police Officers Submits Report

David-ChyddyElekeinAwka

The panel investigating allegations of killings, extortion and sales of human parts, against some senior police officers in Anambra State has submitted its report.

An anonymous blogger, Gistlover, raised the alarm in February over the atrocious activities of three police

officers serving in Anambra State Police Command, which also included the forceful acquisition of properties owned by arrested victims.

Recall that following the allegations by the blogger, the Force Headquarters had set up a panel to investigate them, after inviting the officers involved to Abuja, and

subsequently freeing them.

Also, the Anambra State Police Command had in connection to this declared a corps member, Mr. Daniel Nnamdi Emeh, wanted for impersonation, possession of firearm and money laundry.

Emeh, 26, is said to be an IT expert, working with the command, and was alleged to have leaked

information to the blogger.

The police officers involved in the allegations included CSP Patrick Agbazue, Commander Rapid Response Squad (RRS) in Anambra; SP Nkeiru Nwode, Zonal Public Relations Officer, Zone 13, Ukpo, and Inspector HarrisonAkama, who is said to be used by Agbazue for many nefarious activities.

Youth Group Sues for Peace, Pledges to Hold President-elect Accountable on Campaign Promises

Oluchi Chibuzor

The Tinubu and Shettima Youth Movement (TSM) has called on Nigerian youths to embrace peace and join hands with the president-elect in building a youth inclusive government in line with his manifesto promises

to the nation.

The gathering, which attracted both partisan and non-partisan youths, saw its leaders pledging on behalf of over 75 million Nigerians to hold the presidentelect accountable on its campaign promises concerning the youth.

This they noted is because

having followed him across the federation at campaign grounds, they would continue to remind him of those promises he made to Nigerian youth.

However, speaking at an event the co-convener of TSM and the vice-president, Nigerian youths in politics, Olufowobi Olarenwaju, said

with the president-elect being a man that knows how to hunt talents will not renege on his promises.

He explained how Nigerian youth sacrificed their lives to vote for him and traversing the country to educate, defend and explain his manifesto, they believed his personality will deliver.

FAAN to Deploy New Firefighting Vehicles across Three Major Airports

litres of foam, 250kg powder capacity statement in Abuja, hinted that, Ministry of Aviation, headed by the Logistics Company Razed in KasimSumainainAbuja each, and monitors the discharge rate “with an acceleration rate of 0-80km Minister of Aviation, Hadi Sirika, the Federal Airports Authority of of between 6,000 litres to 10,000 litres per hour in 30 seconds, each of the Managing Director of the Authority, Lagos Early Morning Inferno The Nigeria (FAAN) has inaugurated 10 per minute would be deployed to truck possesses limitless capacity to Captain Rabiu Hamisu Yadudu, Rebecca Ejifoma

A warehouse that is into importation of drinks, Flux Logistics, yesterday, was gutted by fire at Second Gate bus stop, Oba Akran Way, Ikeja.

The incident, which happened at 8.30 am, was said to have started from a warehouse and spread to the entire company which imported drinks and foreign materials.

According to the South-west Zonal Coordinator for the National Emergency Management Agency (NEMA), Ibrahim Farinloye, the Berger Paints Fire Service worked

assiduously to prevent the fire from spreading to SKG Pharmaceutical Company.

“The Berger Paints mobilised their resources from about 500 metres to carry out the intervention.

The SKG Pharmaceutical Company Fire Hydrants in their premises could have assisted greatly but guards on duty could not access or operate the hydrant,” he added.

NEMA is, hereby, urging all Nigerians to be cautious of the delicate season that can lead to immense losses as a result of negligence or unsafe practices.

brand new, high capacity fire-fighting vehicles to improve safety of flight operations at the nation’s airports.

The Lion Volkan 6x6 Brand, Major Aerodrome Rescue and Fire Fighting Vehicles (MFFV), which carries 14,000 litres of water, 1,700

the Murtala Muhammed Airport, Lagos, NnamdiAzikiwe International Airport, Abuja, and Mallam Aminu Kano International Airport, Kano.

The acting General Manager, Corporate Affair, FAAN, Mrs. Faithful A. Hope-Ivbaze in a

discharge while in motion, they are also equipped with under chassis nozzles to tackle running fuel fire.”

While expressing the Authority’s profound appreciation to the President Muhammadu Buhariled administration, through the

noted that in fostering safety and security of flight operations, the federal government has focused on the tripod of rehabilitation/ upgrade of infrastructure, capacity building, and training/manpower development.

Bauchi Microfinance Agency Promotes Digital Financial Inclusion for Rural Dwellers Segun Awofadeji in Bauchi The Bauchi State Agency for Sustainable Micro-Finance (BSASMF) has unveiled measures to forestall any perceived hardships that might arise as a result of the challenges associated

with Central Bank of Nigeria’s (CBN) cashless policy as it affects financial transactions of Village Saving and Loans Associations (VSLAs).

The Director General of the BSASMF, Mr. Nura Muhammad Danmadami (Danmadamin

Katagum) disclosed this to newsmen in his office during the weekend, saying that the move has become imperative for the sustainability of the VSLAs in the state.

Danmadami said that currently the VSLAs deals with cash, where

they save cash and also collect loans in cash to engage in their petty trading, but that with the renewed cashless policy, the VSLA members found themselves stranded with no cash and any means of making financial transactions.

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MONDAY, ͻ˜ ͺ͸ͺͻ ˾ T H I S D AY

MONDAYSPORTS Berlusconi Sad Osimhen Missed Milan Victory at Napoli, Declares Him World-class Player

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

0811 181 3083 SMS ONLY

Duro Ikhazuagbe Former AC Milan President, Silvio Berlusconi insisted at the weekend that Nigeria and Napoli forward, Victor Osimhen is so good that he can fit into any team in the world.

Berlusconi, 86, who is also a former Prime Minister of Italy said he is so particularly impressed with Osimhen and his strike teammate, Kvicha Kvaratskhelia, as their combination has led to Napoli reaping 47 goal contributions from the duo in the Serie A so far this season.

“Players like Kvaratskhelia or Osimhen would go well in any team in the world,” Berlusconi side in an interview published in Italian news outlet Gazzetta dello Sport yesterday.

Berlusconiwas however sad that Osimhen missed Napoli’s home defeat to AC Milan yesterday evening which Luciano Spalletti’s men lost by a whooping 4-0.

“In this sense, Osimhen’s injury is truly a shame: it takes away an element of great charm from the match against Milan,” observed the

former AC Milan President.

Osimhen is the current top marksman in the Italian topflight currently on 21 goals.

This blazing form of the Nigerian international has drawn suitors from several top European clubs with Manchester United, Chelsea and Arsenal as the top runners for his signature.

Despite the injury copped by the Napoli forward which many believe could sideline him for upward of two weeks, Osimhen at the weekend declared himself fit to return to action in the Partenopei’s UEFA Champions League quarter final clash with AC Milan first leg at San Siro on April 12, then the decider at home on April 18th.

“It is nothing serious, but I want to take these 10-12 days to rest and recover,” Osimhen confirmed to TG5com.

He said further that “I hope to be there, but I have also been told and I am convinced that I will be on the pitch against Milan,” concludes the former U17 World Cup winner with the Golden Eaglets in Chile in 2015.

Buhari Celebrates Anthony Joshua's Defeat of Jermaine Franklin Dabiri-Erewa hails AJ, describes the victory as long awaited Deji Elumoye and Michael Olugbode in Abuja President Muhammadu Buhari has celebrated the victory of Nigerian-born boxer, Anthony Joshua, over Jermaine Franklin, commending the triumph of the gifted pugilist over a formidable opponent.

Extolling the mentality of Joshua, who did not allow personal setbacks and obstacles to dent his resilient spirit, the President, in a release issued on Sunday by his Media Adviser, Femi Adesina, said the former three-time world heavyweight champion has demonstrated that by hard work, patience, dedication, persistence and humility, those who dare do win.

President Buhari lauded Joshua for his courage and discipline, on and off the ring, and prayed that this success will be a stepping stone to one of the greatest comebacks in boxing history.

The President believed that the accomplishments of Joshua on the world stage will continue to inspire many upcoming professionals, particularly sportsmen and women, not to be discouraged by temporary defeats and setbacks.

He wished Joshua a bright future and fulfilling career.

Also speaking on Anthony Joshua’s victory, Chairman/CEO, Nigerians in Diaspora Commission, (NIDCOM), Hon Abike DabiriErewa, congratulated Anthony Joshua for getting his mojo back by defeating American after three defeats.

Dabiri-Erewa, in a signed statement on Sunday by one of the officials of the Media, Public Relations and Protocol Unit of NIDCOM, Gabriel Odu, expressed joy over the boxing exploits of the two-time World heavyweight champion as he made a victorious comeback to the global boxing books by defeating the American.

NPFL: Insurance Hold Plateau Utd to Maintain Winning Streak The Nigeria Premier Football League (NPFL) leaders, Bendel Insurance, maintained their unbeaten streak to 12 games yesterday in Jos after they held their hosts Plateau United to a 1-1 draw at the New Jos Stadium.

The hosts shot to the front through Izuchukwu Chimezie in the 43rd minute of the highly explosive game.

But Bendel Insurance fought back with Echeta Deputy scoring the equaliser 18 minutes from regulation time.

However, Akwa United sustained their pressure on Insurance in the Group A of the NPFL with a 1-0 win against Enyimba in Uyo to narrow the Benin Arsenal lead to just four points.

Uche Collins nodded home James Ajako’s cross from a corner-kick in the 13th minutes for the only goal of the game..

Shooting Stars recorded the only away win of the day, courtesy of a 1-0 victory against Kwara United at the Ondo State Sports Complex.

Joshua Akpan fired home the decisive goal four minutes into stoppage time.

RESULTS NPFL Akwa Utd 1-0 Enyimba Kwara Utd 0-1 Shooting Plateau Utd 1-1 Insurance Rangers 1-1 Lobi Stars Bayelsa Utd 5-1 Abia War Doma 2-1 Tornadoes Wikki 3-1 Dakkada

EPL West Ham 1-0 Southampton Newcastle 2-0 Man Utd

LALIGA R’Madrid 6-0 Valladolid Villarreal 2-0 Sociedad Atletico 1-0 Real Betis

SERIE A Bologna 3-0 Udinese Monza 2-0 Lazio Spezia 1-1 Salernitana Roma 3-0 Sampdoria Napoli 0-4 AC Milan

Victor Osimhen Gets thumb up from Silvio Berlusconi, a former AC Milan president

Cricket: Nigeria Wins 3rd NCF Women’s Invitational Nigeria yesterday won the third edition of the Nigeria Cricket Federation (NCF) Women’s T20i Invitational tournament after defeating Rwanda by nine runs at the Tafawa Balewa Cricket Oval in Lagos.

The match, which was a repeat of the final game at last year’s edition, pitched Nigeria against arch-rival Rwanda, who were also the defending champion of the title.

Nigeria won the toss and elected to bat, which led to a hard-fought first inning with 99 runs on board.

Usual suspects Salome Sunday 48(58) and Piety Lucky 11(17) led with the bat as they were the top batting performers for the hosts as they raced through the inning for the loss of four wickets in 20 overs.

The second innings meant Nigeria had to defend the total with a good fielding strategy.

Rwanda came on to bat with Gisele Ishimwe 31(48) and captain Diane Biemenyimana 15(19) contributing to the score of the side.

Nigeria’s Peity Lucky and Racheal Samson did the most damage to the Central African team, claiming three wickets each.

The defending champions had to manage 90 runs for the loss of 9 wickets.

President of the Nigeria Cricket Federation, Uyi Akpata, was elated with the win and said the victory is a welcome development and good feedback on the investments of the

Federation into cricket development.

“First of all, this win is not for the team; it is a win for all. The effort being put in by passionate cricketers to support the board, the dedication of the players, the encouragement from the Honorable minister, and most of all, the sponsors that are

keying into our vision. This is a win for all.”

The Nigeria Cricket Federation (NCF) Women’s T20i Invitational tournament is an annual on the NCF Calendar, and this year’s edition featured; Ghana, Cameroon, Sierra Leone, Rwanda, and host Nigeria.

Nigeria’s Women’s team defeated Rwanda yesterday to win the Four-nation Invitational Women’s T20i Tournament at the Tafawa Balewa Cricket Oval in Lagos

Chelsea Sack Potter, Rodgers Quits Leicester Chelsea have sacked manager Graham Potter after less than seven months in charge following Saturday's 2-0 home defeat by Aston Villa.

It was the Englishman's 11th defeat in 31 games since replacing Thomas Tuchel at Stamford Bridge on 8 September.

Chelsea, who have spent more than £550m on new players, are searching for their third manager of the season.

The Blues are in the bottom half

of the Premier League after their latest loss - and 12 points off the top four.

Chelsea say Potter "has agreed to collaborate with the club to facilitate a smooth transition" and that Bruno Saltor will take charge of the team as interim head coach.

In a statement, co-controlling owners Todd Boehly and Behdad Eghbali said: "We have the highest degree of respect for Graham as a coach and as a person.

"He has always conducted himself with professionalism and integrity and we are all disappointed in this outcome."

Chelsea host Liverpool in the Premier League on Tuesday and face Real Madrid in the first leg of their Champions League quarter-final on 12 April.

Elsewhere, Nigeria’s duo of Kelechi Iheanacho and Wilfred Ndidi, will have to make do with another man in-charge for the rest

of the season as Leicester City announced its decision to part way with manager Brendan Rodgers after Saturday's 2-1 loss to Crystal Palace with the club's board "compelled to take alternative action" to stay in the Premier League.

The Super Eagles duo had enjoyed a tremendous playing time with the former coach but the on-going season has been very poor as the former English champions are neck deep in relegation zone.

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MISSILE Akinnola to Bayo Onanuga “I hope you are now happy and satisfied that NBC has sanctioned Channels with a N5million fine, following your petition over Datti Ahmed’s interview on Channels TV. I’m still trying to wrap my head around your sudden 360 degrees against all you fought for under the military. You are yet to be in government and you have started exhibiting intolerance against the independent media...Take notice that we would fight this your planned ‘insurrection ‘ against the independent media”– Journalist and Rights Activist, Richard Akinnola, berating Onanuga, for his sudden change against the media.

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MAHMUDJEGA VIEW FROM THE GALLERY

Two Chiefs in One Village A nyone who expected the period of transition to new administrations in the country on May 29 to be tranquil has got another thing coming. Far from being a period of rest, introspection and forward planning after the tumultuous campaign and election period, the drama has now shifted to press conferences, radio and television interviews, Eze’s palaces, street demonstrations, leaked audio tapes of a religious war and even in aircraft cabins.

And that is before the courts move in.

Many of the things that are happening today, had a precedent in contemporary Nigerian history. Salvoes are coming not only from the election losers, but from election winners as well. Kano State Governorelect Abba Kabir Yusuf, popularly known as Gida Gida, fired a “public advisory” last week “to all individuals, groups and other organisations that have ongoing construction in public places. You are advised to discontinue any construction work on public land” within and around schools, religious and cultural sites, hospitals, graveyards and along the city walls of Kano. A day later, Gida Gida warned any bank that lends money to the state government between now and May 29 that he will not repay it.

Governor Ganduje quickly responded and said Gida Gida should “desist from making official pronouncements in order to avoid confusion.” He said “The action of the governor-elect amounts to jumping the gun” and that Ganduje “remains the governor with executive powers until May 29 and reserves the right to carry out his functions in public interest, even on the eve of his exit.” He also said some of the plots were allocated by the Kwankwaso administration in which Abba Yusuf was Housing Commissioner.

This exchange reminds me of two episodes. In September 1979, when schools reopened for a new session, Lagos State Governor-elect Lateef Jakande, still three weeks away from his swearing-in, issued a statement saying principals of governmentowned schools should not collect school fees from students in line with the incoming UPN government’s free education program.

The Military Administrator, Ebitu Ukiwe, immediately warned LKJ to keep off, since he was not yet the governor. LKJ then slightly backtracked and said principals should keep proper records of the fees they collected because they will be made to refund them.

More sedate on this score was Olusegun Obasanjo. In April 1999 when he was President-elect, a reporter asked him a question about a certain issue of governance.

Obasanjo replied that he will not comment on it since there was a [military] government

Abba Kabir Yusuf

in place and that in Africa, “there cannot be two chiefs in one village.” Never mind that Obasanjo did not always live by that wisdom.

Another interesting episode from Kano last week was a pledge by the Governor-elect’s godfather, Rabi’u Kwankwaso, that he will not interfere in his son-in-law’s incoming administration. He will only offer advice if he is asked, Kwankwaso said. Insofar as Gida Gida rode to the governorship almost entirely on Kwankwaso’s political wings, this promise will be hard to keep.

It however reminds me of a story that the late Kebbi politician Alhaji Garba Dandiga once told me. I apologise in advance to Oga Bukola Saraki for not telling him this story earlier. Dandiga said in late 2003, he and some colleagues were in Ilorin to attend Dr. Olusola Saraki’s turbanning as Waziri of Ilorin while his son, Governor Bukola Saraki, succeeded him as Turaki of Ilorin. He said one Kebbi politician approached Saraki and said, “Oloye, we are very happy for you! You have been anointing governors in this Kwara State and they have been betraying you! Now Allah has helped you and your son is the governor!”

He said Baba Saraki stole a glance at Governor Bukola, who sat a few meters away. When he saw that Bukola was not listening, he whispered, “All those ones you said, are better than this one! When I gave them list of commissioners, they took half but this one, he didn’t take any.

And I cannot talk because people will say this old man is troublesome, he is fighting his own son!”

Zamfara State Governor Bello Mutawalle

also raised dust last week. He said that he lost his re-election bid to PDP’s Dauda Lawal Dare because the federal government sent 300 truckloads of soldiers to ensure that he lost in order to punish him for challenging its new naira policy in court.

Mutawalle and two other APC governors first filed the suit at the Supreme Court to challenge the policy, though many other state governments later joined the suit.

According to the governor, 50 soldiers were sent to each strategic polling unit to intimidate voters against voting for APC. He said “They (soldiers) were even straight about it, that those voting for APC would not be allowed to vote.”

In this election cycle, even PDP and LP restricted themselves to accusing INEC of alleged misdeeds but Mutawalle directly accused the Presidency of using soldiers to rig elections against him. Assuming the Presidency has 50 soldiers to post to every polling unit in Zamfara [which adds up to more than the total number of soldiers in the Nigerian Army], how feasible was it to instruct soldiers to isolate APC voters and drive them away from the polling booths? And why didn’t the Presidency do the same in Kaduna, which has a whole Army Division, an Airforce base and several elite military academies in residence, and whose governor went much further than Mutawalle in opposing the cashless policy?

Then there was LP presidential running mate Yusuf Datti Baba-Ahmed’s sensational interview, which has even attracted a N5million fine that National Broadcasting Commission slapped on Channels TV. He said democracy will end in Nigeria on May 29 if Bola Ahmed Tinubu is sworn-in as President because he did not satisfy the legal requirements for election. Datti’s main contention was that Tinubu did not win a quarter of the votes in Abuja. But senior lawyer Kayode Ajulo said the Supreme Court ruled twenty years ago that FCT is like any other state for this purpose. Which makes sense; are we saying that FCT residents are superior to other Nigerians and can veto a man’s election victory even if he wins a quarter of the votes in all 36 states? Datti warned the Chief Justice of Nigeria not to swear in Tinubu. Pray, what is CJN’s own in this matter as long as a man brings a valid certificate of return?

Throughout the period of the Second Republic, the late Tai Solarin, in his column in Nigerian Tribune, kept referring to President Shehu Shagari’s mandate as “the stolen presidency,” a term borrowed from a 19th century American episode.

Hot on the heels of Datti’s claim, some people organized a march to Defence Headquarters in Abuja. Although they

only called for the election’s cancellation, the thinly veiled message was for the military to intervene and seize power.

After 24 years in the barracks, Nigerian soldiers may no longer be that power hungry. The late Marafan Sokoto Alhaji Umaru Shinkafi once told me a story. That on October 1, 1979, as General Obasanjo was dressing to go to the parade ground and hand over power to civilians, some of the Head of State’s orderlies stood in the doorway and repeatedly said, “Dis your handover sef!”

Then there was this man who erupted in a scheduled Abuja to Lagos Ibom Air flight last Friday, saying he was an LP supporter and shouting that Tinubu should not be sworn-in as President. One bad practice begets another. In September 1993, during Chief Ernest Shonekan’s Interim Government, three men hijacked a Nigeria Airways plane to Niger Republic. Those ones wanted Chief MKO Abiola to be sworn-in as President; Mr. Obiajulu Uja is saying Tinubu must not be sworn in. Whether we want someone to be sworn-in or not to be sworn-in, must we hijack planes and endanger passengers’ lives? Where did the Constitution say that swearing-in can be stopped because someone shouted obscenities in a plane?

Mr. Uja’s lawyer now says that his client, who will be arraigned in court today, is of unsound mind, had earlier been thrown out of an Abuja hotel and had bought three different air tickets for the same trip to Lagos. Maybe the lawyer is trying to save his client from a sticky situation because unruly behaviour in a plane these days, post 911 and post shoe bomber, could count as terrorism.

Nor is there a lot of peace in the political parties with the [temporary] removal of Dr. Iorchia Ayu as PDP chairman and suspension of NDDC chairperson Lauretta Onochie by her APC ward, both for alleged anti-party activities, and the sudden resignation of NNPP national chairman Prof Rufa’i Alkali, who said he wanted someone else to have a go at restructuring the party. Then there is Eze Igbo of Ajao Estate, Lagos, Fredrick Nwajagu, now cooling his heels in DSS cells for threatening to invite IPOB militants to Lagos in order to protect Igbo lives and property from attacks.

Of all the drama of last week however, possibly the most damaging was the audio leak in which LP presidential candidate Peter Obi told General Overseer of Living Faith Church David Oyedepo that the 2023 election is a religious war and he should wade in with a message. LP spokesman Kenneth Okonkwo said the audio is authentic but was taken out of context.

Ok, tell us the real context of using the phrase religious war.

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