Transactions on CBN’s I & E Window Hit $171bn Obinna Chima The cumulative transactions on the Investors and Exporters’ (I&E) foreign exchange window of the Central Bank of Nigeria (CBN) have risen to $171.45 billion since the bank created the market three
years ago. Data obtained from the CBN by THISDAY also revealed that total forex inflows garnered through the forex window since it was established on April 27, 2017, stood at $93.85 billion as of last Friday. However, as Nigeria’s
economy faces a double whammy of the sharp decline in crude oil price and the economic damage caused by the COVID 19, inflows through the I & E window is expected to be impacted negatively. The CBN had introduced the
Nigerian Autonomous Foreign Exchange Fixing Mechanism (NAFEX), commonly known as the I&E window as well as a raft of other measures to improve dollar liquidity in 2017, when the country faced a severe forex crisis. The banking sector regulator
had explained that the purpose of the window was to boost liquidity in the forex market and ensure timely execution and settlement for eligible transactions. The surge in inflows through the window then was attributed to offshore investors’ interest in Nigeria’s
fixed-income securities. The naira exchange rate against the dollar closed at N384.21 to a dollar on Friday. The apex bank had listed eligible transactions under the new window to include Continued on page 10
Murtala Muhammed Foundation Writes Open Letter to Kano State Governor... Page 18 Monday 27 April, 2020 Vol 25. No 9149. Price: N250
www.thisdaylive.com TR
UT H
& RE A S O
N
FG’s Dilemma: Can Lockdown Ease Amidst Rising Deaths and Spread of COVID-19? NCDC in desperate search for RNA extraction kits Cases rise to 1,273 with 239 discharged, 40 deaths NMA issues advisory on containment of pandemic UNILAG shuts medical centre after exposure Suspected killer of Fasoranti’s daughter tests positive BUA commits N3.3bn to fight pandemic Omololu Ogunmade, Onyebuchi Ezigbo in Abuja, Ejiofor Alike, Chiemelie Ezeobi, Peter Uzoho in Lagos, and James Sowole in Akure As the second stanza of the lockdown President Muhammadu Buhari imposed
on the Federal Capital Territory (FCT), Lagos and Ogun States comes to a close tonight, the president faces a dilemma on the way forward in the nation’s fight to defeat the COVID-19 pandemic that has afflicted 1,273 persons, killed 40 and Continued on page 10
Presidency Considers Upward Review of N500bn Intervention Fund Osinbajo committee meets with EAC tomorrow Onyebuchi Ezigbo in Abuja The federal government is considering reviewing upwards the proposed N500 billion economic stimulus package meant to cushion the debilitating impact of the COVID-19 pandemic. Besides, the Vice President Yemi Osinbajo-led Economic
Sustainability Committee is also putting forward another proposal for a gradual relaxation of the current lockdown in the Federal Capital Territory, Lagos and Ogun States in order to ease economic activities grounded by efforts to combat the Continued on page 10
THE QUANDARY... Minister of Health, Dr. Osagie Ehanire (left), and President Muhammadu Buhari, during the minister’s briefing of the president on whether or not to ease the lockdown caused by the spread of COVID-19 in Abuja…yesterday
Kano Medical Workers Decry Lack of Protective Equipment... Page 9
2
MONDAY APRIL 27, 2020 •T H I S D AY
MONDAY APRIL 27, 2020 • T H I S D AY
3
4
MONDAY APRIL 27, 2020 •T H I S D AY
&29,'
9,&725< &+(&./,67 6RFLDO GLVWDQFLQJ 6WD\ DW KRPH
5HGXFH WKH 6SUHDG
6HOI LVRODWH LI \RX IHHO V\PSWRPV &DOO IRU KHOS RQ :DVK \RXU KDQGV ZLWK VRDS
.LOO WKH YLUXV
6DQLWL]H ZLWK DOFRKRO EDVHG FOHDQVHUV 6QHH]H FRXJK LQWR WLVVXH DQG WUDVK LW 6SUHDG DXWKHQWLF LQIR IURP :+2 1&'&
-RLQ WKH FDXVH
'R \RXU SDUW UHGXFH WKH VSUHDG .LOO WKH 9LUXV 'RQDWH YROXQWHHU VHUYLFH HTXLSPHQW RU IXQGV
7KH RQO\ ZD\ ZH ZLOO JHW RXW RI WKLV VWURQJHU DQG EHWWHU LV WKURXJK FRRUGLQDWHG DFWLRQ WRJHWKHU -RLQ XV
&DFRYLGQJ
VXSSRUWFDFRYLG#DFWUXVWIRXQGDWLRQ RUJ
5
MONDAY, ͺͿ˜ ͺͺ ˾ T H I S D AY
NEWS
Group News Editor Ejiofor Alike
Email Ejiofor.Alike@thisdaylive.com, 08066066268
IMF, WTO Urge Caution on Trade Restrictions Ndubuisi Francis in Abuja The International Monetary Fund (IMF) and the World Trade Organisation (WTO) at the weekend warned that export restrictions on medical supplies and food "can be dangerously counterproductive" as countries grapple with the COVID-19 pandemic. In a joint statement urging caution on such restrictions, the two multilateral organisations also said they were concerned by the decline of trade financing needed to ensure that food and medical supply imports get to the countries that need them most. The IMF and WTO said export restrictions "disrupt supply chains, depress production, and misdirect scarce, critical products and workers away from where they are most needed. Other governments counter with their own restrictions." Eighty countries and customs territories so far have introduced export prohibitions or restrictions as a result of the COVID-19 pandemic, according to a new report obtained from the WTO website. The report, which is based on information from official sources and news outlets, draws attention to the current lack of transparency at the multilateral level and long-term risks that export restrictions pose to global supply chains and public welfare. The statement, issued by the IMF Managing Director, Kristalina Georgieva, and WTO Director-General, Roberto Azevêdo, called on governments to refrain from imposing export and other trade restrictions on key medical supplies and food and to quickly lift those put in place since the start of the year.
In response to the COVID-19 pandemic, some governments have adopted measures to facilitate imports of medical products, such as cutting import duties, curbing customs-clearance processes and streamlining licensing and approval requirements, the two agency heads noted. They added that similar attention should be paid to facilitating exports of key items such as drugs, protective gear and ventilators. Both organisations added that while global trade rules allow for temporary export restrictions to prevent or relieve critical shortages, “we urge governments to exercise caution when implementing such measures in the present circumstances. ” Noting that this time is different, they observed that taken collectively, export restrictions can be dangerously counterproductive. "What makes sense in an isolated emergency can be severely damaging in a global crisis. Such measures disrupt supply chains, depress production, and misdirect scarce, critical products, and workers away from where they are most needed. Other governments counter with their own restrictions. "The result is to prolong and exacerbate the health and economic crisis — with the most serious effects likely on the poorer and more vulnerable countries. "To ramp up the production of medical supplies, it is essential to build on existing cross-border production and distribution networks. "What makes sense in an isolated emergency can be severely damaging in a global crisis. Such measures disrupt supply chains, depress production, and misdirect scarce, critical products, and workers away from where they
NJC Seeks Confirmation of Dongban-Mensem as Appeal Court President Recommends 69 other judges for new posts Alex Enumah in Abuja The National Judicial Council (NJC) has recommended Justice Monica Dongban-Mensem to President Muhammadu Buhari for confirmation as President of the Court of Appeal. The NJC at its 91st meeting held online last week also recommended 69 other judges for various appointments. It urged the president and their respective state governors to approve the appointments into various cadres and jurisdictions of courts. The meeting, according to a statement at the weekend by the NJC's spokesman, Mr. Soji Oye, held between April 22 and 23 and was presided over by the Chairman and Chief Justice of Nigeria (CJN), Justice Ibrahim Muhammad. "The National Judicial Council under the chairmanship of the Chief Justice of Nigeria, Justice IT Muhammad, at its 91st meeting held online, considered the list of candidates presented
by its Interview Committee and resolved to recommend the under-listed names of 70 successful candidates to their respective state governors for appointment as heads of courts and other judicial officers in Nigeria," it said. Justice Dongban-Mensem has been acting as President of Court of Appeal since March 6, following the retirement of the former president, Justice Zainab Bulkachuwa, after attaining the compulsory retirement age of 70 years. Apart from the appointment of Justice Dongban-Mensem, the NJC also recommended the appointments of three other heads of court, 64 judges for states and FCT High Courts and two Khadis for the Sharia Court of Appeal. "All recommended candidates are expected to be sworn-in after approval by President Buhari and their respective state governors and confirmation by the respective State House of Assembly," the statement added.
are most needed. “The result is to prolong and exacerbate the health and economic crises — with the most serious effects likely on the poorer and more vulnerable countries,” they warned.
Georgieva and Azevêdo also expressed concern about the decline in the supply of trade finance, which ensures that imports of food and essential medical equipment reach the economies where they are most needed.
In addition, despite strong supply, export curbs on some food items are beginning to appear. “The experience in the global financial crisis showed that food export restrictions multiply rapidly across
countries and lead to ever greater uncertainties and price increases,” they added. The WTO and the Group of 20 offer two fora for global policy coordination on these important matters, the agency heads stated.
INCIDENCE COMMANDER SPEAKS... L-R: Lagos State Deputy Governor, Dr. Obafemi Hamzat; Commissioner for Information and Strategy, Mr. Gbenga Omotoso; Governor Babajide Sanwo-Olu; and Commissioner for Health, Prof. Akin Abayomi, during a media briefing on Covid-19 in Lagos…weekend kola olasupo
Four Killed in Bandits’ Raid on Niger Communities Laleye Dipo in Minna No fewer than four villagers were killed and some others injured when bandits yesterday raided some communities in the Shiroro Local Government Area of Niger State. Among the injured, according to an eyewitness, is the village head of Jabowah, whose name could not be immediately ascertained as at press time. He was reportedly shot on the leg by the bandits. It was gathered that the bandits also rustled about 300 cattle, with 50 of them belonging to a former Chairman of the Local Government Council, Alhaji Audu Yerima, while the head of the fishermen in the area, Malam Talagbe, was said to
have lost 100 cattle in the raid that lasted over four hours. An eyewitness said the bandits, who were over 50, rode on motorcycles and moved from community to community killing and maiming the villagers. The bandits were also said to have taken over the Erena Bridge linking Erena with other parts of the local government area, making exit and entry impossible. The casualty would have been higher according to the eyewitness but for the fact that some of the villagers had migrated to safer grounds, especially Bosso town near Minna where they are taking refuge as a result of previous invasions. It was gathered that the absence of people in the communities attacked angered
the bandits who in turn, torched many houses. Some of the communities attacked include Galadiman Kogo, Yinakpa, kapna, Aleyin, Rafin Senyin, and Amuko and Farindoki. One eyewitness said the bandits had given prior notice of their intention to raid the communities, a piece of information that was allegedly passed to the security agencies. "They operated without any challenge. Like I told you earlier, these bandits moved with their motorcycles like the speed of light. The way they ride the motorcycles is very scaring, even when they are moving the cattle, they are always in a hurry," the eyewitness said. When contacted, the state Police Public Relations Officer,
Mr. Wasiu Abiodun, an Assistant Superintendent of Police (ASP) confirmed the incident, saying two villagers were killed and a village head injured while some cattle were rustled. Abiodun said regular policemen and men of the mobile task force, including local vigilantes, had been deployed in the communities to restore law and order. The Senator representing Niger East senatorial zone, Alhaji Mohammed Sani Musa, had while reacting to last week’s attack, which claimed the lives of seven villagers, urged President Muhammadu Buhari to direct the establishment of a military base in the area as one of the steps to stop frequent attacks and "killing of my people."
LG Councillor Killed as Gunmen Kidnap Commissioner in Ekiti Victor Ogunje in Ado Ekiti A councillor at Ilejemeje Local Government area of Ekiti State was reportedly killed yesterday as unknown gunmen allegedly attacked and abducted the Commissioner for Agriculture in the state, Mr. Folorunso Olabode. Olabode and two others in his vehicle were said to have been attacked along Isan-Iludun road around 7.30p.m. , leading to the death of the councilor. The commissioner was
said to be traveling to his hometown of Iye Ekiti, when the evil men fired a gunshot at their vehicle. Isan Ekiti, is the country home of Governor Kayode Fayemi. The Commissioner of Police, Ekiti Command , Amba Asuquo, confirmed that a team has already been dispatched, and is on the trail of the abductors, with a view to securing the release of the victims. Amba said the commissioner and one other occupant had been
kidnapped by the evil men . "The three persons were in the commissioner's car when they were attacked. One person died on the spot and the other two were kidnapped. "We had visited the scene to get on-the-spot information that can help us and our men are already on ground combing the expansive forest to fish out the evil men and also recover the abductees". The state government also confirmed the abduction of the commissioner by suspected bandits .
A statement by the Information Commissioner, Mr. Muyiwa Olumilua said, "from initial reports, the kidnappers shot one person in his entourage, the driver of the vehicle, a serving Councillor, in the ensuing fracas. "Governor Fayemi has mandated the security agencies in the state to ensure their prompt and safe release, while assuring residents that adequate measures are ongoing to maintain the peace and security of the state".
6
MONDAY APRIL 27, 2020 •T H I S D AY
MONDAY APRIL 27, 2020 • T H I S D AY
Your Safe and Convenient Bank Are you thinking of a safe and convenient way of fulfilling those financial obligations during this lockdown? Then think FirstOnline! Log on today and enjoy an amazing experience Not yet on FirstOnline? Go to https://ibank.firstbanknigeria.com Click on internet banking and select FirstOnline Click on the self-registration Enter your details and confirm the verification code displayed on the page Click continue to get your OTP Enter the OTP into the provided field. Then click “register” and welcome onboard!
7
8
MONDAY APRIL 27, 2020 •T H I S D AY
MONDAY APRIL 27, 2020 • T H I S D AY
25
9
MONDAY, ͺͿ˜ ͺͺ ˾ T H I S D AY
NEWS
Kano Medical Workers Decry Lack of Protective Equipment Attend to patients from afar Say N3m insurance package inadequate Chucks Okocha and Ibrahim Shuaibu in Kano Following the harvest of deaths, in controversial circumstances, in Kano State and the subsequent confirmed cases of COVID-19 in the state, some doctors have not been reporting for work for fear of the unknown while others attend to patients from afar, citing lack of personal protective equipment (PPE), THISDAY has learnt. The National Coordinator of the Presidential Task Force (PTF) on COVID-19, Dr. Sani Aliyu, had said the federal government was investigating the reported strange deaths in the state. At least 11 persons died at the weekend in Kano within 24 hours. Among the dead is the regional manager of a first-generation bank, who was said to have been awaiting his COVID-19 test result. The coordinator of the Kano Technical Response Team for COVID-19, Dr. Tijjani Hussaini, confirmed the deaths. However, he said the deaths could not be linked to COVID-19 until after the completion of investigations. Investigation in most of the hospitals visited by THISDAY revealed that the few doctors available were attending to patients from a far distance. The doctors also described as inadequate the indemnity money of N3 million for a doctor who lost his life in the course of duty. It was gathered that the absenteeism of some doctors at Murtala Muhammed Specialist Hospital, Sir Muhammadu Sanusi Hospital and Muhammad Abdullahi Wase and other government hospitals outside
the metropolitan was due to lack of preventive/protective support from the government. A source at the Murtala Muhammed Specialist Hospital told THISDAY that "some doctors now in most Kano hospitals do not attend to patients closely, but from far and they often assign intern students and nurses to do the work for them, especially in the night." The sources said the healthcare workers, mostly doctors, were afraid to risk their lives amid the plague and this has disrupted medical services at hospitals. However, a source close to an international health organisation working in Kano told THISDAY that a meeting had been held on the matter and that a letter of complaint would soon be forwarded to the government to address the issue. “This government is very much serious about this fight and we are optimistic that they will quickly provide the required working tools for the benefit of the doctors and other health workers,” the source added. A public health consultant confided in THISDAY that the N3 million life insurance for a doctor was too small. He said: “Most of my colleagues are very much scared; they abandoned their families’ for this fight but our welfare are still not catered for. We want the government to review our package including hazard allowances.” The source added that the state government has mobilised most of the doctors who specialised in different fields to the centre for the treatment of COVID-19 patients, while most of those selected to be part of the exercise
Nigeria Ranks 115th on Press Freedom Index
Peter Uzoho
Nigeria has been ranked 115th out of 180 countries in the 2020 World Press Freedom Index compiled by an international non-governmental organisation, Reporters Sans Frontières (Reporters without Borders). The top 10 countries in press freedom are Norway, Finland, Denmark, Sweden, Netherlands, Jamaica, Costa Rica, Switzerland, New Zealand, and Portugal while North Korea was ranked 180th. The index, described Nigeria as a ‘climate of permanent violence.’ It cited the killings of journalists and campaigns of disinformation as some of the efforts deployed by the country to weaken the press. “Nigeria is now one of West Africa’s most dangerous and difficult countries for journalists, who are often spied on, attacked, arbitrarily arrested or even killed. “Two journalists have been shot dead while covering the Islamic Movement in Nigeria protests – one in July 2019 and the other in January 2020 – without any proper investigation with the aim of identifying those responsible. “The campaign for the elections in which President Muhammadu Buhari obtained another term in
February 2019 was marked by an unprecedented level of disinformation, especially on social media, much of it the work of officials within the two main parties,” it stated. It added that the defence of quality journalism in Nigeria and the protection of journalists are “very far” from being government priorities. The report stated further: “With more than 100 independent newspapers, Africa’s most populous nation enjoys real media pluralism but covering stories involving politics, terrorism or financial embezzlement by the powerful is very problematic. Journalists are often denied access to information by government officials, police and sometimes the public itself. “The all-powerful regional governors are often their most determined persecutors and act with complete impunity. In 2018, one governor had part of the premises of a radio station razed after a series of reports criticising his handling of local affairs. “The police also detained a journalist for several days in an attempt to identify his sources. Online freedom is restricted by a 2015 cyber-crime law that is widely used to arrest and prosecute journalists and bloggers in an arbitrary manner.”
decided to stay back for fear of their safety. It was also learnt that doctors attending to patients involved in an accident and other emergency cases at Accident and Emergency Unit of all the hospitals visited were scared to treat patients with symptom of high temperature. According to an investigation, most of the doctors were posted to isolation centres at Kwanar Dawaki, Muhammadu Buhari Specialist Hospital and other designated isolation centres in
the state. The state Governor, Dr. Abdullahi Ganduje, had said on Saturday that Alhaji Aliko Dangote had promised to donate 5,000 Personal Protective Equipments (PPE), ventilators and monitors to the state. The PPE is part of the doctor’s demand for them to carry out their duties and avoid contracting the virus. Ganduje, at the media briefing, commended the frontline health workers for their courage and
determination towards fighting the COVID-19 pandemic.
PDP Demands Investigation, Presidential Visit The PDP in a statement by its National Publicity Secretary, Mr. Kola Ologbondiyan, yesterday expressed dismay that the Buhari administration had failed to address the Kano situation. The party described as
lamentable that Buhari, who promised to lead from the front, and who recently took up the toga of ECOWAS COVID-19 Response Champion had failed to promptly activate any concrete and visible action to investigate and arrest the situation in Kano. The PDP said the situation was yet another of the manifestations of leadership failure and insensitivity of the Buhari-led All Progressives Congress (APC) administration to the plight of Nigerians at critical moments.
ISOLATING THE VIRUS... L-R: Edo State Deputy Governor, Hon. Philip Shaibu; Managing Director, Peculiar Ultimate Concerns, Mr. Adeleke Olarewaju; and Commissioner for Health, Dr. Patrick Okundia, during the official inauguration of the Edo State COVID-19 Infectious Disease Isolation Centre, at Stella Obasanjo Hospital, Benin City...weekend
Hope Dims for Proposed Free Electricity Supply It'll make FG pay for consumption by the rich, says minister Emmanuel Addeh in Abuja The proposed two-month free electricity supply to Nigerians, spearheaded by the Speaker of the House of Representatives, Mr. Femi Gbajabiamila, may have fallen through, according to THISDAY findings. The Ministry of Power, which is supposed to drive the initiative, is unenthusiastic about it as it has expressed concern that it could lead to a situation whereby the federal government would've to pay for electricity consumed by the rich. But the Transmission Company of Nigeria (TCN) yesterday said it would align with any position taken by the Ministry of Power on the matter even as there are divided opinions in the Nigerian Electricity Supply Industry (NESI). Minister of Power, Mr. Saleh Mamman, in a BBC Hausa interview at the weekend doubted the possibility of executing the proposal, which is estimated to cost the federal government between N100 billion and N120 billion for the two months.
According to him, the entire power supply chain is not owned by the federal government, but run as a strictly business concern. He added that if the National Assembly insists on pressing ahead with the plan, its members should come up with fresh ideas on its implementation. He stated that while the government was interested in the supply of stable electricity to Nigerians, the generation, transmission and distribution to various households were being done by private businessmen who would be expecting returns on their investments. The minister explained that if the plan is implemented, the federal government will end up paying for the electricity consumed by the rich who live in highbrow areas like Maitama in Abuja and Victoria Island in Lagos to the detriment of the extremely poor, adding that over 80 million Nigerians do not have access to on-grid electricity. “This free electricity bill will be paid with taxpayers' money and you want to serve the interest of the privileged Nigerians, then the less privileged and the vulnerable what are you
going to do for them? "Every month what we pay as electricity bill, I mean what the distribution companies are paying with the little support from government is a little above N50 billion monthly," he said. Speaking with THISDAY, the General Manager, TCN, Mrs. Ndidi Mba, said the minister spoke for TCN on the matter. “The minister speaks for us. We are a government entity. The minister’s office is the policy-making arm; so we can’t speak against the minister. The minister and the federal government take the decision and whenever they take that decision, it then cascades, and then it is discussed,” she said. Managing Director of TCN, Mr. Usman Mohammed, had earlier dismissed the feasibility of providing free power to Nigerians, saying that the federal government cannot make power free because it does not own it. However, a stakeholder in the Distribution Companies (Discos), who chose to speak on the condition of anonymity, said the initiative came from the National Assembly, which promised to work with the
executive arm, noting that the job of the Discos is just the implementation. The source said as distribution companies, just like beer sellers cannot lay claim to manufacturing the drinks, the Discos could not unilaterally take a decision on the matter without the active participation of other stakeholders in the supply chain. “It has to come from top to bottom. Every stakeholder in the entire chain must be willing to key in and ensure that this plan sees the light of day. Otherwise, nothing will work. But we as Discos can only wait and observe. We are monitoring things closely,” the source said. The Executive Secretary, Association of Power Generation Companies (APGC), Ms. Joy Ogaji, had earlier expressed concern about funding the initiative. “There are a number of issues to be considered. For us to have free power, the gas suppliers have to be engaged. Would they give the Gencos free gas? Apart from free gas, they have O & M cost and other obligations before power is generated.
10
MONDAY, ͺͿ˜ ͺͺ ˾ T H I S D AY
PAGE TEN PRESIDENCY CONSIDERS UPWARD REVIEW OF N500BN INTERVENTION FUND COVID-19 pandemic in the country. President Muhammadu Buhari had locked down FCT, Lagos and Ogun States since March 30, 2020, a decision that is due for review today. Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, had at a meeting with the President of the Senate, Dr. Ahmad Lawan, and the Speaker of the House of Representatives, Hon. Femi Gbajabiamila, had proposed an establishment of a N500 billion COVID-19 Crisis Intervention Fund. The fund, she said, would be sourced from mopping up resources from various special accounts of the federal
government. The minister had also stated that in addition to the identified special accounts from where the money would be drawn as loans, the fund would also be sourced from grants being expected and loans from multilateral institutions. THISDAY investigations, however, revealed that the Osinbajo committee, which came up with the proposals to relax the lockdown and increase the N500 billion fund, is scheduled to hold a teleconference meeting with President Muhammadu Buhari’s Economic Advisory Council to harmonise positions on various aspects of their recommendations before submitting a report to
the president. A source confided in THISDAY that "the committee has received reports from its various sub-committees on finance and stimulus package headed by the Minister of Finance, Ahmed; the one on job creation headed by the Minister of Labour and Employment, Senator Chris Ngige; sub-committee on easing of COVID-19 lockdown headed by the Minister of Works and Housing, Mr. Babatunde Fashola.” On lockdown, the source said the Fashola’s sub-committee had proposed the easing of the present lockdown in some states and the Federal Capital Territory (FCT). “The
committee has recommended that the government should implement a gradual unlocking of movements and activities in the affected areas and to only continue the measures where necessary,” the source said. He said Osinbajo would preside over another meeting of the committee tomorrow where the reports would be deliberated and harmonised with the economic advisory team before the final recommendations would be forwarded to the president. "The recommendation is to dwell on measures to be taken on COVID-19 and post-COVID-19 era. The committee will conclude this with the Presidential Economic
Advisory Council via a teleconference on Tuesday before sending its harmonised report to Mr. President," the source added. On what may form part of the key recommendations by the economic team, the source said: " What they are looking at is that the N500 billion as announced would be expanded. In the interim, the committee will be working with the N500 billion but it has resolved that an increase will be recommended, which will be significantly above N500 billion.” The source explained that although no ceiling had been put on the expanded stimulus package, the committee is pushing for a significant increase
in the amount. "The committee is also working assiduously to stem job losses through so many innovations. The target is to first protect the existing jobs and then find ways to create more jobs to take care of the depleting effect of the post-COVID-19 era," he stated. The Osinbajo committee comprises Ministers of Finance, Budget and Planning; Industry, Trade and Investment; Labour and Employment; Minister of State Petroleum Resources; CBN governor; NNPC Group Managing Director and Permanent Secretary, Cabinet Secretariat, who serves as secretary of the committee.
FG’S DILEMMA: CAN LOCKDOWN EASE AMIDST RISING DEATHS AND SPREAD OF COVID-19? left only 239 off its hook so far across 32 states. The nation recorded 91 new confirmed cases and five deaths yesterday. Four states, Ebonyi, Bayelsa, Kebbi and Taraba got their index cases. The 91 new cases were reported from 16 states, Lagos 43, Sokoto 8, Taraba 6, Gombe 5, Ondo 3, FCT 3, Edo 3, Oyo 3, Rivers 3, Bauchi 3, Osun 2, Akwa Ibom 1, Bayelsa 1, Ebonyi 1, and Kebbi 1. Today the president would have to decide whether to ease the lockdown as requested by the Nigeria Governors’ Forum (NGF) even as the cases are rising and risk an exponential outbreak of the virus; or extend the restriction and imperil an already fragile economy, with possible civil disobedience from a restive citizenry that has been complaining of hunger arising from its inability to earn a living in the last four weeks. Although the president received an update on the lockdown from the Minister of Health, Dr. Osagie Ehanire, and the Director-General of the Nigeria Centre for Disease Control (NCDC), Dr. Chikwe Ihekweazu, yesterday at his residence in Abuja, it is obvious that the options before him are not easy and whichever one he takes would have dire consequences for both the polity and the citizenry. When the president announced the lockdown in a nationwide broadcast on March 29 and signed the COVID-19 Regulations 1, effective from March 30 for 14 days, he said it was necessary to rein in the virus at the three epicenters through testing, tracing and treatment, explaining that the measure would ease the achievement of the three-prong objective. Extending the restrictions on April 14 by another two weeks, he argued that it was necessary to consolidate the gains of the previous weeks. But the outcome has not been cheering. The cases have continued to rise, spreading to more states and creating new epicenters, the latest of which is Kano State. Hamstrung by the global scarcity of testing kits, reagents, and personal protection equipment (PPE), the nation’s testing capacity has remained
low around 1,000 testing per day coming far behind many other African countries, including Ghana and South Africa. Although it has been argued that Nigeria’s molecular testing is more accurate by over 95% while its peers’ rapid testing has 44% accuracy, it’s a much slower method with the attendant effect of undermining the objective of scaling up testing, tracing and treatment. In the meantime, the citizenry, many of which are in the informal sector of the economy, are complaining that left without a livelihood, coupled with the failure of the government’s palliatives, the choice before it is death by COVID-19 or hunger. For the formal sector too, the lockdown has had serious adverse consequences on its businesses and has warned that continued shutdown would hurt the economy badly and it might be difficult to revamp it if it is not reopened immediately. But with the rising cases of infection against the background of a sluggish rise in the capacity for testing, tracing, and treatment, it is obvious that this is hardly a good choice for the president as it could lead to an escalation of the COVID-19, a situation that might restrain the people from coming out for fear of contracting the virus. “This would be counterproductive because the aim of opening the economy by getting back to work might be defeated,” said an economist that spoke to THISDAY last night, explaining: “In any case, it is only a healthy people that would be able to work and push the economy. If they fall sick or are afraid to come to work because of health concerns, how would the economy run?” The other option of extending the lockdown has its downside as it has the potential for worsening the economy with the possibility of sliding into a recession as well as the danger of civil disobedience by the citizenry that is already restive. But the argument for this is that with effective implementation of the restriction, a rapid up-scaling of testing, tracing, and treatment, the virus could be brought under control in a matter of weeks
and then the economy could be reopened. The advantage of this, said another analyst, would be that the nation would have a healthy workforce uninhibited by health concerns that would be productive enough to kick start the economy. “The economic gains of this would be more,” he said. There were no indications of what recommendations the Presidential Task Force on COVID-19 gave to the president yesterday through the Minister of Health beyond Ehanire’s terse comment that the decision was Buhari’s to make. It was also unclear last night if the president would be communicating his decision through a nationwide broadcast or a proclamation.
FG in Desperate Search for RNA Extraction Kits Meanwhile, the federal government yesterday stepped up efforts to expand testing for COVID-19 as it sought to acquire more reagents that would facilitate the determination of people's status. Ihekweazu, in a tweet, sought for assistance to acquire the reagents. He said NCDC needed ribonucleic acid (RNA) kits for the COVID-19 test. RNA is a critical component to identify and test for the presence of a virus. The kits are used for extractions. In a tweet yesterday, Ihekweazu gave specification of the products needed and the manufacturers. “We’re desperately looking for more RNA extraction kits as we expand #COVID19 testing. Product: Total viral RNA extraction kits (preferably spin column and with a lysis buffer). Manufacturers: Qiagen, ThermoFischer, SeeGene, Inqaba, LifeRiver, etc,” he tweeted. Headquartered in Hilden, Germany, Qiagen is listed on both the New York Stock Exchange and the Frankfurt Stock Exchange. While ThermoFisher is based in the United States, Seegene is headquartered in Seoul, South Korea.
Inqaba is headquartered in South Africa, just as LifeRiver is in China. THISDAY gathered that the specialised test kit does not show cross-reactivity with common respiratory tract pathogens and blood stream pathogens and also has both positive and negative internal controls to prevent the reporting of incorrect results. The kit is said to offer unprecedented sensitivity and specificity in the detection of infectious disease. Other common kits are said to be very expensive, large and require a modern laboratory and trained technicians to operate. These have restricted their use in developing countries. The Chinese Academy of Sciences had earlier this month said its biomedical institute in Suzhou, Jiangsu province, had created a nucleic acid test kit that could produce results in just 45 minutes. The kit can be stored and transported at room temperature and it only requires 20 microlitres of nasal swab or mucus samples to produce a result, according to the institute. A single test machine can analyse 60 samples an hour, while patients can be tested with an accuracy rate of over 99 per cent.
Buhari Meets Health Minister, May Address Nation Today Ehanire and Ihekweazu yesterday briefed the president on the ongoing efforts to stop the spread of the virus in the country. The meeting, which held behind closed doors at the president's residence in the State House, was announced by the president's Special Assistant on New Media, Bashir Ahmad, on his twitter handle @Bashir Ahmad. "FLASH: President @MBuhari receives a briefing on Nigeria’s #COVID19 situation, from Minister of Health Dr. Osagie Ehanire and Director-General of the NCDC, Dr. Chikwe Ihekweazu this evening at the Presidential Villa, Abuja," Ahmad tweeted. Ehanire, who later appeared on Channels Television last night,
failed to disclose whether the lockdown in Lagos, Ogun and the FCT would be relaxed or extended. Instead, he said the president would make a proclamation on the situation at the nick of time. "The president will make that announcement in his own time. We have given him the facts. He will consider the facts and make his own announcement using his wisdom," he said. Ehanire also responded to a question on whether it would be right to relax the lockdown now or not, saying in handling a dreadful matter like this, both economic and medical interests have to be balanced to ensure that neither of the two situations is put in jeopardy. According to him, such consideration does not apply to Nigeria alone but to other countries, adding, however, that since the Presidential Task Force has briefed the president on the current situation, the president will weigh the options and make a decision. "Well, what happens is that in every country, we balance the medical and health related benefits from the economicrelated benefits because you have an economy you don’t want to kill and you also have a health sector you don’t want to destroy. "So, it is a very delicate balance, which you need to do and all countries do that. It is not only in our country, even in the United States you have that debate all the time - do we open the economy now or do we not open the economy now? "The decision has to be tailored according to the needs of our country. Every country weighs its own benefits and decides what is best for her. In our case, we have presented the facts to His Excellency, Mr. President. We thought of the pros and cons and then gave him the options and then leave him to use his wisdom to make the choice," he said. The president had on April 13, extended the lockdown he initially announced for 14 days for another two weeks to hasten the containment of COVID-19.
NMA Issues Advisory on Tackling Pandemic
The NMA has urged the federal and state governments to consider a coordinated implementation of policy measures such as lockdown, palliatives, public awareness on hygiene practices, use of face mask and social distancing. In an advisory issued yesterday, the association said the implementation of lockdown should be accompanied by large-scale public enlightenment down to the grassroots. It said such a measure should also be accompanied by the distribution of palliatives to the most affected segments of the population. NMA also advised that the governments should enhance the enforcement of all measures to maintain physical distancing of at least two metres in public spaces and avoidance of public gatherings larger than 20 persons. "The enforcement of the wearing of face masks must be in addition to other mitigation measures like increasing access to clean water and hand washing to provide significant infection and mortality risk reduction," it said. NMA called for massive up-scaling of testing or mass screening using RDT and further confirmation with the PCR method, concentrating mainly in areas with high disease burden. The association explained that it would soon unveil N500 million support programme tagged: “Save Our Private Health Practitioners Initiative” to raise financial and material support for private healthcare practitioners in the containment and management of COVID-19 outbreak.
UNILAG Medical Centre Shut after Exposure The University of Lagos has announced a temporary closure of the UNILAG Medical Centre after being exposed to a COVID-19 patient. A statement yesterday by the university said the temporary closure, which began on Saturday, would last for 14 days. Continued on page 29
TRANSACTIONS ON CBN’S I & E WINDOW HIT $171BN invisible transactions such as loan repayments, loan interest payments, dividends/income remittances, capital repatriation, and management service and consultancy fees. Also, on the eligible list were software subscription fees, technology transfer agreements, personal home remittances and any such other eligible transactions, including ‘miscellaneous payments’ as detailed under Memorandum 15 of the CBN Foreign Exchange Manual. The CBN is a market participant at the window to promote liquidity and professional market conduct.
Nigeria’s external reserves stood at $33.626 billion as of April 22, according to figures obtained from the central bank’s website. CBN Governor, Mr. Godwin Emefiele, had explained that the window was introduced in 2017 as a strategy to further liberalise the market. “It was designed to increase transparency in the market because the market players at that time, particularly our friends-investor community had a lot of doubts about the level of transparency in the market. “And we felt there is the need to establish a market where you will not find the hand of the
CBN; people should be free to bring in foreign exchange into the country and take them out at will, but that the CBN, in line with the foreign exchange management policy can only come in at some points to intervene, either by supplying dollars into the market or buying dollar from the market to keep the price at the level that we think is within acceptable thresholds,” he had explained. But speaking during a recent webinar, the founder, B. Adedipe Associates Limited, Dr. Biodun Adedipe, had said the pandemic had caused a reversal of capital flows from emerging and developing economies.
“That simply explains what Nigeria has been dealing with in terms of capital importation. In fact, if you look at the data, what we have seen was that for 2019, Nigeria experienced a lot more capital inflows than in 2018. “But if you look at the quarterly figures, it has been dropping. But, where we are today is: Every man to himself and God for us. So, nobody is thinking about going to invest anywhere else. Everybody is concerned about survival first and foremost. Of course, income per capita is expected to decline in over 170 nations out of about 220 countries all over the world,”
he had stated. Also, Moody’s Investors Service recently pointed out that risks in the country have been exacerbated by the oil price shock and the financial and economic implications of the COVID-19 outbreak. Their view aligned with the position of other notable rating agencies as well as analysts and economists. And this is expected to result in a slowdown of inflows into the I & E window as well as the Nigerian economy. According to Moody’s, the rapid and widening spread of the outbreak and related price shocks were creating an unprecedented credit shock
across a wide range of regions and markets. “For Nigeria, these shocks amplify existing credit vulnerabilities both over the immediate and longer term. In the near term, the significant drop in oil revenues will reduce an already extremely low tax base, undermining fiscal strength. “Combined with possible capital outflows, pressure on the fragile balance of payments may intensify, threatening external stability. In the longer term, the impact of the coronavirus on growth, particularly in the large informal sector, may weaken economic strength," it had said.
MONDAY APRIL 27, 2020 • T H I S D AY
11
12
MONDAY, ͺͿ˜ ͺͺ ˾ T H I S D AY
COMMENT
Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com
COVID-19 AND LAGOS’MOVES TO STEM HUNGER Lagos State Governor, Babajide Sanwo-Olu is leading from the front, writes T homas Adeoye
Y
ear 2020 is not the kind anyone foresaw. It was not prepared for. And the greatest disruptor thus far – Covid-19, has changed the world as we know it. It’s going to throw further challenges, and one can only speculate the trajectory of the tiny virus before man conquers it. While some medics have said a drug is needed to see the end of the virus and return to normal, Covid-19 has become not only a medical problem. The economy is bucking, relationships are being tested, and governance is facing unprecedented challenge. Globally, there are over 2.8million confirmed infections and 200, 000 deaths. But in Nigeria, with COVID-19 cases at 1,182 by Sunday morning, Lagos is the most hit with more than half the number of cases. This is really not surprising. After all, Lagos is the most densely populated Nigerian state and the most economically active state which also serves as the largest entry point into the country. But also noteworthy is that Lagos has been equal to the challenge COVID-19 has posed - LOCKDOWN - as the virus spread across the world. By the March 31, Lagos, Ogun and Abuja went into lockdown mode. Only food sellers, medicine sellers and workers on essential duty could move around. A lockdown meant a standstill of major commercial activities. That also meant no money. And no money meant no food. Ditto for other needs. In the country where more than 75% of the people live on less than two dollars per day, it was projected that hunger could be of more immediate danger than the dreaded virus. But in the wake of the epidemic, Lagos, under the leadership of Governor Babajide Sanwo-Olu, has displayed responsible leadership. The state government effected measures to ensure food was available. Aside allowing food markets to operate, some primary schools across the state were designated food markets. In alleviating the hunger of vulnerable Lagosians, Sanwo-Olu proposed palliatives in form of foodstuffs. Sadly, some dubious persons tried to sabotage it. It was reported how a party member diverted foodstuffs meant for the palliatives to a neighbouring state. While the state government must be scolded for bungling the food distribution network initially, it finally got its act right. Going back to the drawing board, the Lagos State government reviewed its Food Relief Stimulus Package targeting the aged, vulnerable and physically challenged. It opened food kitchens in all the local government councils, serving 100, 000 youths a meal per day. And buoyed by the gestures of the Lagos State Governor, there has been a flurry of giving across the state. The chairman of the National Union of Road Transport Workers (NURTW), Lagos State council, Musiliu Akinsanya, aka MC Oluomo, distributed foodstuffs like rice, beans, yam, noodles and palm oil to aged and vulnerable residents of Oshodi. He also gave 3, 000 of them N2, 000 each. “I see my governor trying in Lagos,” said MC Oluomo. “Now, I will support my governor. I would support my people in Oshodi. That’s why I provide food and money for 3,000 people.” Also lending support in cash and kind to the state government included the corporate sector and social organisations like the Lagos Chinese community, Eko Club, Inner Wheel Club and others. In a similar vein, religious organisations, political associations, landlord
IN AN EMERGENCY LIKE THIS, IT MUST BE CLEARLY STATED THAT THERE IS NO WAY THE HUNGRY SHOULD EXPECT FIVE -STAR FOOD OR THAT EVEN ANY PALLIATIVE WOULD GO ROUND ALL CITIZENS. HENCE, IT BEHOVES ON CITIZENS WHO DON’T ACTUALLY NEED SUCH PALLIATIVES NOT TO GO FOR THEM
associations, NGOs and well-meaning individuals have toed the same line. It’s easier for them to follow the example set by the state government. Surely, it must be stated that the palliatives cannot go around everyone. Only very few governments in the world can afford to feed all her citizens. But some Lagosians are yet to learn that in order to ensure everyone is okay, all citizens must shun greed. Some videos on social media have shown this ungrateful attitude. In one of the videos, a youth playing football took one of the loaves of bread set aside as palliative and kicked it away, protesting it was ‘too small.’ Another video showed a lady complaining that a food pack given to her by a private citizen had ponmo. Addressing the camera, she had said, “I don’t eat ponmo”, flicking the cow hide off the pack before walking away. One thing is clear from those two videos – they did not really need the food. A hungry man does not throw food away. Ask residents of IDP camps. In an emergency like this, it must be clearly stated that there is no way the hungry should expect five -star food or that even any palliative would go round all citizens. Hence, it behoves on citizens who don’t actually need such palliative not to go for them. They should allow the ‘real’ vulnerable persons receive them with gratitude. Continuing its palliative intervention, the Lagos State government authorised unconditional cash transfer to 250,000 economically challenged persons registered with the Lagos State Residents Registration Agency (LASRRA). Also, the Lagos State governor recognised the need to alleviate the stress of the small and medium scale businesses operating in the state. “All the MSMEs and SMEs that took LSETF loans and got support from other government’s financial incentive programme will enjoy three months moratorium,” Sanwo-Olu said. And knowing a lockdown would not stop people getting ill or needing treatment, the governor announced free treatment during the period. And as at April 14, it was reported that over 18,000 people have enjoyed free medical services at all 67 Grade “A” primary and secondary healthcare centres, with over 600 childbirths recorded since the palliative measures were introduced by the State government. Undoubtedly, Sanwo-Olu has handled the Covid-19 pandemic in Lagos with the swiftness it deserved and he has been receiving commendations from several quarters. On Saturday, the Lagos State branch of the Nigerian Institution of Estate Surveyors & Valuers (NIESV), during a courtesy visit, led by its chairman, Adedotun Bamigbola, said that the visit was to demonstrate support for the Lagos State government and health workers on the frontline in the fight against COVID-19. Watching on CNN how the governor of New York, Andrew Cuomo, has been on top of the Covid-19 pandemic, I can’t help but see a similar vigour demonstrated by Sanwo-Olu in the same battle. Sanwo-Olu’s response during this Covid-19 pandemic seems to have brought out the best in him. Daily, he was on ground, attending to varying issues to contain the virus. He was seen, heard and his presence was even felt by Lagosians as he led from the front. Adeoye wrote from Lagos
NIGERIA AND OIL: LOOKING BEYOND PRICE COLLAPSE Austin Okere’s piece, written four years ago, is still very apt
O
n April 20, 2020 the screaming headlines on CNN was that the price of WTI crude oil had fallen by 306% to $-37.63 per barrel, the first time on record that oil price has hit negative territory. It is surreal how things come around.
I wrote this article on April 20, 2016 after the colossal collapse in oil prices – and surprised how relevant it is even today. What was our experience as a country, what did we learn from it and how is it that we have once again been caught desperately unawares? Below is the first part of the article. The recurrent mistake we keep making as a nation is failing to anticipate and plan for our oil windfalls. There have been many boom opportunities since Nigeria joined the Organisation of Petroleum Exporting Countries (OPEC) in 1971; Oil prices increased by 400% in six short months after the Yom Kippur War following the Arab Oil Embargo. Crude prices doubled from $14 in 1978 to $35 per barrel in 1981 following the Iran/ Iraq war. The price of crude oil spiked in 1990 with the uncertainties associated the Iraqi invasion of Kuwait and the ensuring Gulf War – the so called ‘Gulf War windfall’ under then Head of State Ibrahim Babangida. Data from the U.S. Energy Information Administration shows that the latest windfall happened between February 2011 and August 2014, under the Goodluck Jonathan presidency, when oil prices were much in excess of $100 per barrel. Another golden opportunity was squandered, characterised by organised kleptocracy
of epic proportions as has now come to light. During this same period Saudi Arabia has amassed a whopping $593b in foreign exchange reserves and has recently announced that it is creating a $2 trillion mega-sovereign wealth fund, funded by sales of current petroleum industry assets, to prepare itself for an age when oil no longer dominates the global economy. Coming closer home, Algeria, the second biggest African oil producer, with 1.9mbpd has accumulated foreign reserves of $156b and a sovereign wealth fund of $50b. Nigeria, by far the biggest producer in Africa with 2.5mbpd has only managed foreign reserves of $28b and a sovereign wealth fund of a paltry $2.9b – about 5% that of Algeria. The major difference being that while the Algerians saved for a rainy day during the boom years, Nigeria was busy squandering her wealth, with nothing to show by way of infrastructure or any solid investments. Yet Nigeria was able to balance her budget, pay off her debts and save over $62b in foreign reserves during the Obasanjo presidency from 1999 to 2007, even though the price of crude was mostly under $40 per barrel, except for the two years between 2005 and 2007 when it hovered between $50 and $75 dollars per barrel. It is bothersome that with the same level of oil price, Nigeria today is struggling to balance her budget and has resorted to aggressive borrowing to finance the deficit, inadvertently driving us back to where we were before escaping from the huge burden of sovereign debt and the attendant debilitating impact of debt servicing.
I believe that Nigeria can save as much as $36.5b in the coming year if oil prices recover towards the end of 2016 and through 2017 to the projected $80 per barrel. This assumes we have all agreed that the current crisis is much too painful and too precious to waste. It can actually be a blessing in disguise, affording us the much-needed leverage to deliberately diversify our economy away from the over dependence on oil, and attempt to become self-sufficient in every low hanging opportunity such as feeding ourselves. There is a reason why the Chinese use the same word for challenge and opportunity; behind every challenge is an opportunity. We must seize this golden opportunity with both hands and make the structural changes that will lead us to true prosperity as a nation. Almost every third Nigerian businessman you come across claims to be into Oil and Gas; usually, briefcase contractors who manage to have their ‘papers’ stamped, and proceed to collect money from the treasury of our commonwealth. Yet oil contributed only 6.4% to GDP growth in 2015. An often-overlooked area for rapid economic growth is telecoms, entertainment and media. At a recent event in Lagos, Dr. Doyin Salami, lecturer at Lagos Business School, remarked that ‘The telecommunication sector grew Nigeria’s GDP by 8.7% in 2015, generating spill overs, with uptakes in financial transactions technology and payment systems, e-commerce facilitation and proliferation of transport services, while making the offering of the burgeoning entertainment industry ubiquitous’. Quite simply, if each of the 34 million MSME’s in
Nigeria could be supported with technology to improve their businesses through online presence and seamless bookkeeping to the point of employing one more staff, they would create an additional 34 million jobs, much more than the government can ever provide. I totally agree with Dr. Salami that Nigeria’s economy has systematically and strategically diversified along the lines of technology and other services sector without Nigerians noticing. The services sector today contributes as much as 52% of Nigeria’s GDP. Agriculture is also another sector that could do with special attention. If we strive to produce what we eat, we will not only be saving a whopping $6b from our import bill, but also provide the opportunity for inclusive growth, with the spill over effects down the value chain, from logistics and transportation to light manufacturing. But we need to make the right investments in infrastructure such as roads and rail transport linking farms with their food processors and markets. The change that will make all this happen is not the ‘outsourced variety’ where we believe that we can carry on with business as usual, or sit back and fold our arms while only the President delivers the promised change. All hands must be on deck, and we each have to be the change we desire. The elephant in the room question is; who says oil prices will reach $80 per barrel?
Okere is the Founder of CWG Plc, the largest ICT Company on the Nigerian Stock Exchange & Entrepreneur in Residence at CBS, New York
13 15
T H I S D AY ˾ MONDAY, APRIL 27, 2020
EDITORIAL POLLUTION ON NIGER DELTA SHORELINES What killed the swarm of fish washed up the shorelines? The relevant authorities should investigate the cause
A
s the nation expects test results being conducted by the National Oil Spill and Detection Agency (NOSDRA) to determine the cause(s) of death of a large number of fishes that washed up the shorelines of some communities in Delta, Bayelsa and Rivers States, environmentalists have expressed concern over claims that only a species of fish was affected. This is Croaker, with market/street name of ‘Broke Marriage’. Prejudicing the investigation with untested claim will be dangerous for the health of the people within the affected communities and the nation at large. It is noteworthy that NOSDRA is working in collaboration with other relevant agencies of government that equally have mandates on the nation’s territorial waters, particularly the Nigerian Maritime Administration and Safety Agency (NIMASA), Nigerian Institute of Oceanography and Marine Research (NIOMR), the Federal Institute of Fisheries Research and National Environmental Standards and Regulations Enforcement Agency (NESREA). WE EXPECT THAT We expect that their THEIR REPORT WILL BE report will be released RELEASED EARLY TO early to enable the ENABLE THE AFFECTED affected communities and governors of these COMMUNITIES AND states to take informed GOVERNORS OF THESE health decisions. STATES TO TAKE Meanwhile, NOSINFORMED HEALTH DRA has ruled out DECISIONS pollution of the waters from oil spill activities, after preliminary investigation of the area in Delta State that was first affected by a swarm of dead fish. Also, a pollution expert, Olanike Adeyemo, Professor of Aquatic Epidemiology & Toxicology at the University of Ibadan, said it is unscientific to state that only the Croaker fish species will be affected by pollution rather than all fish forms. Also discussing the issue, a group of marine biologists and environmental pollution scientists,
offered suggestions on how to investigate what killed the fishes, stating that their recommendation was based on the assumption that they may have died as a result of some toxic compound that interfered with their biological activities and that some or all of the toxic compounds could still be present in their flesh.
E T H I S DAY EDITOR BOLAJI ADEBIYI DEPUTY EDITOR YEMI AJAYI, DAVIDSON IRIEKPEN, MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR KAYODE KOMOLAFE CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR JOSEPH USHIGIALE
T H I S DAY 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 BOLAJI ADEBIYI, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTORS PATRICK EIMIUHI, SAHEED ADEYEMO CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO HEAD, COMPUTER DEPARTMENT PATRICIA UBAKA-ADEKOYA
xperts recommend that samples of the dead fishes should undergo specific scientific analysis, and that if they were well-preserved it would show the compounds present in their flesh. They further recommend analysis of the fishes’ species that survived in the same water to compare the compounds present in both, specifically to give an insight of what happened. It is important for this exercise to be done quickly since the affected communities in Rivers State are already probing and, in their preliminary report, stated that they also received verified reports that several communities, along the Atlantic shoreline across the area referred to as the Gulf of Guinea, were affected too. These are Ondo, Delta, Bayelsa, Rivers and Akwa Ibom States. Nigerians in these communities are already concerned about the possible health hazard that may arise, since some people harvested the dead fish and either consumed them or sold them dried or fresh in their markets. Their fear is also driven by some mysterious observations they made which are that the dead fish rots from the tail instead of from the head, turns green in the process of rotting, had boil that oozed pus when pricked, and that they do not dry thoroughly but disintegrate when spread over open fire, unlike other fishes. They have almost concluded that something out there in the ocean is responsible for the death of the fish, given observation by some fishermen that the tide drives the dead fish from the high sea towards the shores. This movement, they said, suggests probably that the cause of the fish’s untimely death maybe out there in the deep sea. As things stand, only a thorough investigation by the relevant authorities can resolve the many speculations about the cause(s) of death of the tonnes of fish washed up the shorelines of the Niger Delta communities.
TO SEND EMAIL: first name.surname@thisdaylive.com
Letters to the Editor
TO OUR READERS Letters in response to specific publications in THISDAY should be brief (150-200 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.
KANO, OUR WEAKEST LINK
A
chain is as strong as the weakest link. This idiom is used to express that a group can only be as successful as its least successful or powerful person. If one person fails, the whole group fails. Kano state recorded its first Covid-19 case just two weeks ago. Prior to this time, there has been concerns over the people of Kano State. Their lifestyle and demographic characteristics wasn’t going to help. There are 13.4 million people well-packed together in Kano, most of them illiterates who believe only what their eyes can see. A recent video in Kano showed a crowd shouting “Mallam ya ce, babu corona” meaning “ our cleric said, there is no corona”. We have seen videos of Kano youths defying safety precautions to drink from their handwash water to prove that the virus doesn’t exist. Some have even organised a “coronavirus” soccer tournament with hundreds of unmasked spectators making mockery of social distancing. Consequently, the spread in Kano has been rapid. The state was coasting to its first hundred before reports of new cases ceased. We hear testing has been put on hold as a significant number of workers at the testing centre have tested positive to the virus. As if that is not enough, almost all the new cases in the border-
ing states are exports from Kano. A particular case of interest is Gombe State which now has over 20 new cases courtesy of Kano. Far away Plateau State also got a taste of the largesse as it recorded its first case a few days ago, also an export of Kano. There are reports of scores of elderly people dying from an illness with flu-like, corona-like symptoms in Kano within the last few days. This is as there has been no report of new cases from Kano in the last few days because of lack of testing. As it stands, nobody knows what is happening in Kano! The state is now a petri dish for coronavirus in Nigeria; a paradise of 13.4 million-packed people as culture medium, incubating new cases for nationwide distribution. The hard work of the Nigeria Centre for Disease Control (NCDC) and governments in Lagos, Ogun, Osun, Cross River, Abuja and the likes will be easily undone by the nonchalance in Kano. At this rate, there will be no respite even with a national lockdown. A chain is only as strong as its weakest link and in this fight against Covid-19, our weakest link is Kano State and this will surely jeopardize the national effort against this virus if not addressed. May God help us. Ushakuma Anenga, uanenga@yahoo.com
NORTHERN GOVERNORS AND COVID-19
O
n behalf of the President of Arewa Youth Council Comr Dogo Shagari and the entire Youths of Arewa community, we commend the efforts of the federal government and all 19 Northern State Governors on the measures they are taking in fighting the spread of Corona virus decisively. We appreciate the sacrifice of our experts in health sector and pray to God to reward them abundantly. The awareness and campaign against the disaster is in good condition by both the media and independent individuals. But the materials to be used for the prevention of the disease are not enough. Government should do more to make materials such as face masks, hand gloves and hand sanitizers free of charge. God created us equal and enrich some of us out of His mercy and blessings. The support of our business moguls among us can play a vital role in fighting the disease for the benefit of humanity on earth. Our petty traders have their own quota to contribute based on their status in our different communities. It is our task to repel Covid-19 through obeying professional advice from health
workers across the country. Staying at home is safety, but questionable to those that cannot feed themselves for a single day. The most vulnerable among us deserves governmental and individuals intervention to cope with staying indoors in order to curtail the spread of the disease. Indeed Covid-19 is a global disruption that can lead to the closure of our state borders in the entire Northern States; we call on the attention of our various governors to act on behalf of its indigenes to make sure prices of food items are in order and Consumer Protection Laws should be emphasized accordingly for the purpose of reducing hardship. The act of our religious leaders is commendable. Locking down of our various mosques and churches in suspected areas does not mean we should cease to pray from our respective homes, rather it has paved way to pray continuously for the benefit of mankind around world. We symphathize with the families of infected personalities and pray for their quick recovery. And also pray for God’s intervention to distance mankind from this disaster worldwide. Comr Bello Shehu Adamu, _National Secretary, Arewa Youth Council
14
T H I S D AY ˾ MONDAY APRIL 27, 2020
Group Politics Editor NSEOBONG OKON-EKONG
POLITICS
Email: nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY
M O N D AY D I S C O U R S E
In Kano, Concern For Unexplained Deaths Override COVID-19 Ibrahim Shuaibu writes that in these grim times of the global COVID-19 pandemic, residents of Kano have an additional emergency of unexplained deaths to cope with
Buhari
K
ano State, the busy commercial city of the Northern Nigeria, which also doubles as the most populous state in the country, has witnessed a spate of unexplained deaths in the past couple days, and the state is under lockdown which is unusual for its busy residents who are always on top of their commercial and other menial jobs to provide a living for themselves. The abnormal death has generated serious in the state, even as the residents are denied the chance to come up together in order to look for a way out of the problem which most of the people attribute to high death to high blood pressure, ulcer and other ailment not related to COVID-19. But the Kano State government, which initially denied that anything was wrong is yet to come up with modalities to arrest the situation. Meanwhile, Governor Abdullahi Ganduje has finally admitted that he needs help, as he cried out to the Federal Government for N15 billion to combat the strange illness that has taken many lives in the state. The situation in Kano was previously kept under the wraps, but the increasing death toll became impossible to hide or explain. People were dying mysteriously without any information of what exactly was killing them, even as a number of guesses were made. However, nothing can be scientifically proven because cultural and religious adherence demand quick interment for the dead, thereby denying a critical examination of the corpse through a post-mortem to verify what the cause of death was. Most of the death has been attributed to high blood pressure, malaria, ulcer and even hunger, while dearth of medical doctors to attend to the patients in hospitals across the state has become situation of worrisome. Residents of the state have been left wondering what may have led to a surge in the number of deaths after the state government imposed a total lockdown on the state as a result of the rising cases of Coronavirus. The spate of deaths has caused palpable fear and confusion among the residents, which prompted the question on why the attention of the government shifted to fighting Coronavirus while people are dying in silence. Some persons even suspect that the people are dying of the Coronavirus without being detected. Demanding an immediate investigation and visit by President Muhammadu Buhari, the Peoples Democratic Party (PDP) also berated Ganduje for abandoning governance. The Peoples Democratic Party (PDP) in a statement by its National Publicity Secretary, Mr. Kola Ologbodiyan demanded an immediate investigation into the disturbing mass death in
Ganduje
Kano state, urging a Presidential visit to the state, where no fewer than 640 citizens had reportedly died under mysterious circumstances in the last one week. Ologbodiyan said the party’s call was predicated on conflicting reports emanating from Kano State on the cause of the sudden deaths particularly at this time that our nation is battling with the spread of COVID-19 pandemic. He said, “The PDP notes with dismay that the Buhari Presidency had failed to take any concrete step on this frightening development, but is, as usual, waiting to be prodded to stand up to the demand of the office and proceed to Kano state to identity with the people, find solution and contain the ugly situation. The party describes as lamentable that President Muhammadu Buhari, who promised to lead from the front, and who recently took up the toga of ECOWAS COVID-19 Response Champion, had rather receded into the safety of Aso Villa and failed to promptly activate any concrete and visible action to investigate and arrest the situation in Kano, where Nigerians are dying in their hundreds. “The PDP described the situation as yet another manifestation of leadership failure and insensitivity of the Buhari-led All Progressives Congress (APC) administration to the plight of Nigerians at critical moments. “Our party holds that the situation in Kano demands an immediate Presidential visit and investigation at the very high level. Those dying in Kano are Nigerians and must not be abandoned. The development deserves an utmost Presidential attention to avoid further escalation. “This is particularly imperative as it is evi-
Secondus
dent that Governor Abdullahi Ganduje and his APC-led administration in Kano State are totally incompetent and have become overwhelmed after failing to take appropriate measures to combat the spread of the coronavirus or whatever medical situation that has taken over the state.” The once busy streets of Kano streets have been deserted without vehicular movement on the streets. Unfortunately, the only gathering of a large number of people these days are people carrying corpses to the cemetery for burial, apart from the security personnel deployed to manage the lockdown order by GovernorAbdullahi Umar Ganduje as part of the government efforts to curtail the spread of Coronavirus pandemic. All the cemeteries in Kano state have become busy places receiving different corpses who are mostly elderly people that died from unexplained ailments. The total lockdown has drawn attention of the public to unusual occurrences in the ancient city of Kano because of the overwhelming way corpses are brought for burial on daily basis. In most of the cemetery in Kano, people used to bury four or five corpses daily under normal circumstances. In the last seven days, however, the number of corpses buried each day have gone up to an average of 15 corpses per day. A resident of Fagge local government area, one of the eight local governments that make the Kano Metropolis, Malam Saminu Bala told THISDAY, “I was at the Abattoir Cemetery along Wamba Quarters attending a burial when they brought five other corpses for burial. Everybody was complaining about the increasing number of death in the city. The undertaker said they have buried over 60 in just two days.”
The once busy streets of Kano streets have been deserted without vehicular movement on the streets. Unfortunately, the only gathering of a large number of people these days are people carrying corpses to the cemetery for burial, apart from the security personnel deployed to manage the lockdown order by Governor Abdullahi Umar Ganduje as part of the government efforts to curtail the spread of Coronavirus pandemic. All the cemeteries in Kano state have become busy places receiving different corpses who are mostly elderly people that died from unexplained ailments
This situation was soon to go viral on the social media with video and audio clips as well as texts doing the round. As the conventional media took an interest, the state government was taken unawares. It issued a statement promising to investigate the cause of the rise in deaths and make it public. The announcement was made through the office of the Commissioner for Health, Dr. Aminu Tsanyawa although days later the state Governor Abdullahi Ganduje later dismissed the reported deaths in Kano as fake news while responding to questions from journalists. Ganduje would later concede that only 13 people have been recorded dead in the state. His statement was seen as political without tracking the actual death of people who died under this circumstance. Reports have it that over 200 people have died within few days since the commencement of the total lockdown in the state. The Governor said, “I can confirm that only 13 people have been reported dead instead of the rumours going round of mass death. I would like to assure the people that it is not true, it is a rumour. We have people at grave side that are giving us information and also recording the records about dead people and the cause of their death. “There were three deaths from Gwale, seven deaths in Kano Municipal, while three others from Kumbotso. So this is the actual figure that our staff at graveyards were able to record.” However, under normal circumstance, Kano people often bear the major burden of disease outbreaks, but this unusual death caused panic, worry and even became a time bomb waiting to explode if government does not take immediate action and look at the causes of the death, according to Auwalu Ali Daurawa, a Kano resident who lives near the Farm Centre Cemetery. The lack of facilities in a densely populated city like Kano which requires all hands on deck to prevent the spread of the novel Coronavirus is alarming and the rampant deaths indeed call for concern. Infections, particularly the ones associated with poor hygiene, are largely linked to poverty. It is the poor who suffer the pains of death and devastations, occasioned by the visit of such scourge. Independent investigations have certainly proved that it is true that the rate of death have risen in the ancient city by at least 200%. This is indeed alarming and calls for serious concern especially in a period where there is an outbreak of a pandemic. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com
MONDAY APRIL 27, 2020 • T H I S D AY
15
16
MONDAY APRIL 27, 2020 •T H I S D AY
MONDAY APRIL 27, 2020 • T H I S D AY
17
MONDAY, ÍşÍżËœ ͺ͸ͺ͸ Ëž T H I S D AY
18
OFFICE OF THE CHIEF EXECUTIVE OFFICER Monday, April 27, 2020 H.E Abdullahi Umar Ganduje Governor of Kano State Governor’s Office, Kano Kano State, Nigeria Your Excellency, OPEN LETTER TO KANO STATE GOVERNOR ON KANO STATE’S COVID 19 PANDEMIC RESPONSE I am constrained to write this letter to you out of deep concern for my brothers and sisters that reside in Kano State. As a citizen of Nigeria and a daughter of Kano, I will be remiss if I do not voice my apprehension on the COVID 19 pandemic as it concerns my kinsmen. We are contending with a novel virus that scientists the world over are still trying to understand. There are many things we do not comprehend about the virus at this time, but what we do know is that it is deadly. More importantly, it does not discriminate on the basis of tribe, religion and socio-economic class in its haul of victims. Governments across the world have only been able to mitigate the grim impact of this crisis with a show of strong leadership and collaborative efforts with all stakeholders in designing and implementing a Pandemic Response Strategy. Kano State cannot afford to be an exception. Unfortunately, news coming out of Kano State corroborated by my findings is worrisome. The Honourable Minister of Health, Dr. Osagie Emmanuel Ehanire was quoted on Sunday to have acknowledged that the recent spike in deaths in Kano required further investigation and, the Deputy Coordinator, Kano State Covid-19 Response, Dr. Sabitu Shuaibu in speaking on Channels TV on Saturday did indicate that the deaths in the state had reached 640 in the last one week. As a Muslim, our Holy Book makes us understand that “No disaster strikes except by permission of Allah. And whoever believes in Allah – He will guide his heart.â€? Though I do not wish that the increase in deaths being reported should cause mass hysteria and panic, but, we cannot adopt a fatalist view of the situation or remain in denial. Beyond the official figures from the NCDC, the evidence indicates clearly that COVID 19 is very much within our borders, as the exponential surge in “mysteriousâ€? deaths provide an accurate picture of the crisis we have on our hands. Kano state already has considerable developmental challenges that threaten to be compounded by this pandemic. We have a huge population, endemic poverty and high rates of illiteracy amongst other indicators that make us extremely vulnerable. This portends horrendous catastrophe for our people if, God forbid, we lose the war against COVID 19. I therefore entreat you to take necessary action to urgently address this predicament and save the people of Kano. Some of the steps I would like to suggest are: r %FDMBSF B 4UBUF PG &NFSHFODZ JO ,BOP 4UBUF XJUI JNNFEJBUF FGGFDU r &YFSDJTF ZPVS QPXFST BT (PWFSOPS UP MPDLEPXO UIF FOUJSF ,BOP 4UBUF BOE XPSL XJUI UIF /JHFSJBO TFDVSJUZ GPSDFT UP FOGPSDF this r &NCBSL PO B DPNNVOJUZ BXBSFOFTT QSPHSBN UP TFOTJUJ[F BMM JOEJHFOFT BOE SFTJEFOUT PG UIF TUBUF UP QSPUPDPMT UIBU IBWF CFFO prescribed by the WHO including: hand washing, social distancing, use of face masks and self-isolation r "EPQU XBSUJNF TUSBUFHJFT UP NJOJNJ[F UIF TQSFBE PG UIF WJSVT XIJDI XPVME JODMVEF DPNNBOEFFSJOH FYJTUJOH JOGSBTUSVDUVSF as isolation centres, in particular repurposing boarding schools and university accommodation as much needed beds for the sick r 1SBDUJDF JOUFOTF USBDJOH DBUFHPSJ[BUJPO BOE NBOBHFNFOU PG DPOUBDUT r 1SPWJEF IFBMUI DBSF XPSLFST PO UIF GSPOUMJOF XJUI BEFRVBUF 11&T r "EPQU /$%$ HVJEFMJOFT JO EFBMJOH XJUI UIPTF XIP IBWF CFFO DPOĂ SNFE JOGFDUFE BT XFMM BT FOGPSDF BEIFSFODF UP HVJEFMJOFT for the burial of the deceased Nigeria and indeed Africa, have been lucky, as our treatment outcomes so far have been remarkable. Therefore, urgent and coordinated action must be taken and the support of all stakeholders must be sought to turn the tide against this aggressive contagion in Kano State, to save us from the dire projected outcomes. Your Excellency, we are looking to you for direction and leadership at this time, and assure you of our support and that of many well-meaning individuals and institutions within and outside the state. Every minute counts! May God help us! Yours sincerely,
Aisha Muhammed-Oyebode Chief Executive Officer, Murtala Muhammed Foundation Murtala Muhammed Foundation 6th Floor, 2a, Foreshore Towers, Osbourne Road, Ikoyi, Lagos +234 807 6567053, +234 812 9575052, +234 816 6851037 | info@mmfng.com | www.mmfng.org
19
T H I S D AY Ëž Í°ÍľËœ 2020
BUSINESSWORLD R A T E S MONEY MARKET OVERNIGHT OBB
A S
REPO 21.08 20.33
CALL 1-MONTH 3-MONTH
20 20 20
A T
Group Business Editor Obinna Chima
Email obinna.chima@thisdaylive.com 08152447875
A P R I L
S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE
488.04 % 0.04% 4.80%
2 4 ,
S & P INDEX 1/4 TO DATE YEAR TO DATE
2 0 2 0
4.80% 1.43%
EXCHANGE RATE N361/1US DOLLAR* *AS AT LAST FRIDAY
Quick Takes Wema Celebrates 75th Anniversary
CSR-IN-ACTION
Chairman, Independent Petroleum Producers Group (IPPG), Mr. Ademola Adeyemi-Bero (left), with Lagos State Governor, Mr Babajide Sanwo-Olu, during the donation and handover of medical consumable and ambulances by IPPG to states in the South-west zone to fight the coronavirus, held in Lagos... recently ETOPUKUT
Put on Human Face in Dealing with Debtors, Unegbu Tells Banks Dike Onwuamaeze and Nume Horsefall The Managing Director of Maxifund Securities Limited, Mr. Okechukwu Unegbu, has advised banks to adopt mediatory process in resolving disputes expected to arise between them and their debtors due to the disruptions by the COVID-19 pandemic. Unegbu, a former President of the Chartered Institute of Banker of Nigeria (CIBN) and a former chief executive of the defunct Progress Bank, said this in a paper he presented at the monthly forum of the Financial Correspondents Association of Nigeria’s (FICAN) webinar titled: “COVID-19 and the Future of Banking,� organised in Lagos at the weekend. He urged banks to put on a human face in dealing with their
ECONOMY respective clients. Unegbu explained: “They must add human face to their operation by sitting down with their debtors to find out how to enable them to bounce back. “Banks should tell their debtors something about their plans on managing the interest rate on facilities they have given to them. They must sit down with them and offer them a lee way that will enable then to bounce back from the impact of COVID-19 on their businesses. “By resorting to the courts or arbitration, it will not be of any help because there are so many issues to look into that will make legality to be of any assistance.� He suggested that banks should grant their clients a moratorium on the principal and as well as
the interest rate on the facilities by 50 per cent in order to avert high incidence of non-performing loans (NPLs). He also predicted that banking in the post COVID-19 era would thrive by training and improving employees’ skills and knowledge on the critical areas of banking operations and services to clients rather than laying all the emphasis on deposit mobilisation. Unegbu, who is also a legal practitioner said Nigeria must do everything possible to avert the occurrence of what he termed, the “W� curve in the management of the pandemic in the country, saying a resurgence of the pandemic would be too devastating to the economy and the financial system, especially the banking sub-sector. He stated that the future of the banking sector would depend on digital platforms, strengthened
cyber security measures, adequate collaboration with fintechs, to be able to offer robust services to their customers and enhance financial inclusion. “The bank of the future should create credit culture in the economy by allowing Nigerians who are working and earning monthly wages to have access to credits. They should create mortgage products that can run for at least 10 years,� Unegbu said. He warned that all effort should be made to ensure the survival of small businesses, which are the largest employers of labour. This, according to him, would reduce the sufferings of households as a result of the aftermath of the COVID-19. “I think it is time for the CBN to go to its drawing table to find
As part of activities to celebrate its 75th anniversary, Wema Bank Plc has introduced an Earn-from-Home scheme. A statement explained that the ďŹ nancial institution has over the years continued to, “to reinvent the narrative in the delivery of ďŹ nancial services and experiential banking to its customers.â€? In this light, the bank announced its launch of the scheme to reward loyal customers with an opportunity to earn extra income.This, it stated, came at a time when the crippling eects of the COVID-19 pandemic was being felt by individuals and corporate organisations locally and globally. “This is in furtherance of the bank’s long history of socially responsible projectsandisbothtimelyandsensitiveasitcreatesanalternativestream of income for its customers at a time when income channels are drying up,â€? the statement added. According to the Head, Retail Banking, Wema Bank, Mr Dotun Ifebogun, “we believe this will empower our transacting customers to eectively leverage on the current lockdown situation and earnwhileathomebyrecommendingtheALATApptoeconomicallyactive family members and friends within their social network.â€? In addition to the, ‘earn from home,’programme, the bank disclosed that it would also host its Hackaholics 2.0, a 2-day hackathon and a tech fair event. “Set up to promote the development of technological solutions for ďŹ nancial and institutional need and other social issues, Hackaholics was postponed for a later date following the coronavirus pandemic. “Themed: ‘Connecting Worlds’, the hackathon will bring developers, designers and creative thinkers together to develop products and discover new technologies.
LASACO Supports Health Workers
AspartofitscontributionstotheďŹ ghtagainstthecoronaviruspandemic, LASACO Assurance Plc, has provided N1 billion free insurance cover to health workers in Osun State. The company, said the cover would take care of 200 frontline health workers involved in the containment of the disease in the state, to the tune of N5 million for each health worker to cover their death, permanent disability and medical expenses. LASACO Assurance Managing Director, Mr Segun Balogun, said, in a statement, that the gesture was to boost their morale and motivate the workers. He emphasised the need for such protection for health workers to enable them focus on their duty and not be overwhelmed by the hazards involved. He commended Nigerians for cooperating with government in the ďŹ ght against the disease so far and advised them to continue to make thenecessarysacriďŹ cebyobservingsocialdistancingandotherpreventive measuresprescribedsoastoquicklyachievetheatteningofthecurveand eventual eradication of the disease. Balogun, promised that the company wouldcontinuetosupportgovernmentinmeetingtheneedsofthepeople.
Togo Joins African Trade Insurance
TheGovernmentofTogohasannouncedthecompletionofthecountry’s membershipintheAfricanTradeInsuranceAgency(ATI),becomingthe18th African sovereign shareholder. According to a statement,Togo’s membership, backed by the European Investment Bank, reects a trend that has seen a record number of West African countries join Africa’s multilateral guaranteeagencywithGhana,NigerandNigeriaallcompletingmembership in the last nine months. This trend was expected to continue as countries seek support to ensure investment and trade ows on the continent. “As we ready ourselves to manage the economic fall-out from the Corona virus, African governments are focused on mitigating the short and long-term impacts. Insurance capacity is an important aspect of our abilitytorebuildandtoensurethatcriticalprojectsreceivethefundingand guaranteesupporttheyrequire. “WeseemembershipinATIasanecessary component in our ability to shore up the economy and to weather this storm,â€?thecountry’sMinisterofEconomyandFinance,Hon.SaniYayasaid. “The membership of Togo pushes ATI one step closer to achieving Continued on page 24 full pan-African membership from countries from coast to coast. The COVID-19 crisis increases the relevance of African development ďŹ nance institutions such as ATI. “As the world struggles to get a handle on this fast moving pandemic, the combined resources of African institutions will be needed to eectively counter this newest threat to Africa’s development,â€? said John Lentaigne, Acting CEO of the African Trade Insurance Agency.
Businesses Urged to Restructure Strategy to Ensure Survival Obinna Chima The founder and Chief Consultant at B. Adedipe Associates Limited, Dr. Biodun Adedipe, has advised businesses to note the irreversible change in consumer behavior due to the disruption caused by the COVID-19 pandemic. Therefore, he stressed the need for businesses to change their operational models. He said this while speaking during a webinar organised
ECONOMY by his firm recently. Adedipe predicted that there would be uncertainty around the business environment due to the economic disruptions created by the pandemic. This, he estimated could continue until around the third and fourth quarter of 2021, “before we can start talking about post COVID-19.� Therefore, he emphasised
that, “this is the time to plan and not after the pandemic has subsided.� “Governments in Nigeria, that is the federal, state and local governments, should be thinking about how to ensure that businesses don’t collapse with the situation we find ourselves,� he said. According to the economist, just like a paper released recently by the Central Bank Governor, every country or company should be talking
about what they can do immediately, what they can do during the second half of 2020 and what can be done in 2021 and beyond. “We talk about projection a lot in banking. In fact, the projection in banking globally was that by 2025, banking all over the world would have changed in such a manner that any bank that is not present on the digital platform; any
“Covid-19 won’t be the end of technoeconomic disruptions or health pandemics even in this decade� Former CBN Governor,
Continued on page 24
Chukwuma Soludo
e g e
es s, o r, of nt t, fa e st
T H I S D AY Ëž Í°ÍľËœ Í°ÍŽÍ°ÍŽ
20
BUSINESSWORLD PUT ON HUMAN FACE IN DEALING WITH DEBTORS, UNEGBU TELLS BANKS
out some of its regulations it would relax because most of these banks, including the micro-finance banks, have been badly hit. This would enable banks to fund small businesses that must have been forced by the lockdown to eat into their capitals. We are in a war situation.� He also advised households to do away with luxuries and concentrate on the essentials, especially foods, children education fees and house rents in order to cope with the post COVID-19 economic difficult terrain. Unegbu also advised state governments to recruit the services of financial experts who are knowledgeable in public finance in order to rejig their budgets in line with the collapsing oil prices. BUSINESSES URGED TO RESTRUCTURE STRATEGY TO ENSURE SURVIVAL
bank that is not considering at this point in time, open banking, will likely no longer be competitive globally. “This is a time also businesses should be pursuing operational and cost efficiency. Companies should be looking at flexible working hours. If you look at the data on the environment all over the world, lock down has brought about cleaner air all over the world, translating to cleaner environment. “What this is talking to is that is there a possibility that after we exit COVID-19, that more companies would change their model in such a way that not everybody working in that organisation would have to report to work in the office daily. If people can work from home and still deliver what is expected from them, why should they be at work? That will lead to improved environment and less vehicles on the road,� Adedipe explained. According to him, the coronavirus is a disease that doesn’t distinguish between the rich and the poor, the big and the small, but affects everybody.
Group Business Editor
Obinna Chima
Capital Market Editor
Goddy Egene
Comms/e-Business Editor
Emma Okonji
Senior Correspondent
Raheem Akingbolu (Advertising) Correspondents
Chinedu Eze (Aviation) Eromosele Abiodun (Maritime) James Emejo (Finance) Ebere Nwoji (Insurance) Chineme Okafor ((Energy) Reporters
Nume Ekeghe (Money Market) Nosa Alekhuogie (ICT)
NEWS
CBN Moves to Quell FX Speculation, Debits Banks N1.47trn As part of effort to manage bank“The central bank doesn’t which hindered positive response of the naira at the FMDQ Securities a total value of $25.4 million. “The prospect of higher oil Exchange (SE) FX Futures Contract ing system liquidity and prevent want them to be playing around in the global oil market. Following this, Brent crude price Market advanced 6.8 per cent prices remains weak due to speculation in foreign exchange with exchange rate, so they want declined 11.6 per cent week-on- ($991.6 million) to $15.6 billion. the impact of COVID-19, thus (FX), the Central Bank of Nigeria liquidity very tight,� he said. In addition, the MAY 2021 we expect sustained exchange (CBN) on Friday debited about 30 Meanwhile, oil price lost for the week, to $24.8 per barrel, while banks a total of N1.47 trillion as third consecutive week on the back the country’s external reserves instrument (contract price: rate pressures. “In the coming additional cash reserve requirement of declining global demand due further moderated 0.1 per cent N391.20) received the highest week, we expect inflows from subscription of $195.9 million OMO maturities worth N30.7 (CRR). to economic lockdown globally, to $33.6 billion. The CBN spot rate closed flat which took total value to $196.8 billion. Also, we envisage that A source disclosed this to according to a report by Afrinvest THISDAY at the weekend. But West Africa Limited. An agreement at N360.50/$1. At the parallel million. On the other hand, the system liquidity will remain the amount would be refunded by major oil producers to reduce market, the naira depreciated N14 JAN 2021 instrument (contract elevated, driving rates lower in price: N390.26) recorded the least the secondary T-Bills market,� to the banks, this week. global output have failed to lift to close at N420/$. The total value of open contracts subscription of $7.1 million with analysts at Afrinvest stated. “The banks were debited on prices amid low storage concerns Friday to manage the amount of liquidity in the system. This is to prevent them having excess liquidity to speculate in FX. So, the idea is not to allow them hold excess liquidity. But the banks would be credited this week,� the source who pleaded to remain anonymous said. The moves come after the central bank’s campaign last year to force lenders to give out more credit by twice increasing the minimum loan-to-deposit ratio. In September, it debited banks’ accounts with N500 billion for falling short of the lending targets, refunding most of the reserves the next month. “The move will drain excess liquidity from the market that could’ve been used to buy foreign exchange, helping to support the naira,� the chief economist of Stears Data, Michael Famoroti, told Bloomberg. It may also pressure bank earnings as the capital could’ve been L-R: Minister of State for Budget and National Planning , Clement Egba ; Minister of State for Petroleum ,Timipre Silva ; Minister of Agriculture , Sabo deployed into other money-making Nanono, and Minister of Industry ,Trade and Investment , Adeniyi Adebayo, during Economic Sustainability Committee Meeting at the Presidential avenues, he added. Villa, Abuja... recently
COMMITTEE MEETING
Terminal Operators: PTT’s Guidelines Will Worsen Apapa Gridlock, Create Congestion Eromosele Abiodun The guidelines rolled out recently by the Presidential Task Team on Apapa gridlock is a recipe for chaos, which will further compound traffic congestion on the port access roads and exacerbate port congestion, the Seaport Terminal Operators Association of Nigeria (STOAN), has said. STOAN, in a statement, signed by its spokesmen, Mr. Bolaji Akinola, said the task team’s vice chairman, Kayode Opeifa, drew up the so-called guidelines without inputs from critical stakeholders especially truck operators, terminal operators and shipping companies and without regards for prevailing cargo backlog at the nation’s seaports. According to STOAN, “It is clear
that this task team has outlived its relevance, and its operations are not in tandem with the realities on ground in Apapa. The federal government deliberately left the ports open so as to keep the flow of essential supplies to Nigerians at this difficult times going, but the task team has come up with guidelines that suppress the timely evacuation of cargo at the port. “Is the task team aware that Apapa is a port city? Why then is Mr. Opeifa creating guidelines that restrict the movement of trucks evacuating cargoes at the port? Is this not contrary to the position of the federal government that the logistics and supply chain should not be interrupted?� STOAN added. The association said it rejects “in totality� the guidelines rolled out by the task team, which restricts
the movement of trucks evacuating cargo from the port only to a certain time of the day. It said the ports operate round the clock, hence, “cargo evacuation must be done round the clock,� including at night in order to avoid congestion. STOAN also said that part of the guidelines allowing port-bound trucks to access the Lagos Port Complex Apapa only via the Wharf Road, while those being used for other purposes have unrestricted use of all other access roads is “ill-advised�. “These guidelines stand logic on its head. How do you ask the port trucks not to work at certain times and not to use certain roads? The roads are for port operations. We kindly urge President Muhammadu Buhari to call Mr. Opeifa to order, as he
has now totally deviated from his brief,� STOAN said. The association also asked the federal government to mandate the Nigerian Ports Authority (NPA) to take over traffic management on the port access roads, “so as to clear the chaos created by the task team�. “NPA has a robust security department that had done a good job of managing the traffic on the port access roads in the past and it is the consensus of stakeholders that they should return to that role,� STOAN said. The association also called on the federal government to investigate allegations of extortion of truck drivers by the task team as well as alleged preferential treatment granted petrol tankers and some truckers, especially some union officials, who are hiding
under the task team. “It has become imperative to note that other truckers and stakeholders have complained severally about this injustice,� STOAN added. When contacted, Opeifa said the claims did not deserve a response, adding that the it did not represent the views of all terminal operators from the evidence available to him. However, he denied the existence of any guidelines, stressing that what they are referring to is the directive on traffic management during Covid-19 lockdown. “There is no new guideline, the NPA is in charge of call up not us. The directive on Covid-19 was drafted with the Nigerian Shippers Council (NSC) and sent to NPA and critical stakeholders for comment, “he stated.
FG Complies with FAO’s Directive on Agro-product Movement Oluchi Chibuzor The federal government has advised security agencies to work within the framework of the Federal COVID-19 Emergency Action Response Plan to ensuring easy movement of foodstuff, livestock and farm inputs. The directive came as farmers and agro-related enterprises across the nation had said the lockdown ordered by President Muhammadu Buhari should have included agribusiness as part of essential services in the
country. This was stated in a communiquĂŠ signed by the Minister of Agricultural and Rural Development, Alhaji Mohammad Sabo Nanono, at the end of a meeting with Ministers of Defence, Interior and Police Affairs on Emergency Response to COVID-19. The minister said Nigeria, like the rest of the world, is currently facing the challenge of the pandemic which necessitated a presidential directive on lockdown, restricting movement within and across states consid-
ered as epicentres of the infection in Nigeria namely Lagos, Ogun and FCT. He said the resolutions had been communicated to the Chairman, Presidential Task Force on COVID-19, Chairman of Governors’ Forum and Chairman of ALGON for information and further action. He, therefore, said there was the need to put in place a strategy to facilitate free movement of food and agricultural inputs nationwide to avoid food shortages and ensure 2020 production season was not hampered. “That the
Federal Ministry of Agriculture and Rural Development working with various farmers’ associations, crop producers’ association, poultry associations, tractor services associations, to design mechanisms of providing special passes to be recognised by the security agencies to facilitate free movement of food stuff, perishables, farm inputs, livestock and fish. “That a Joint Technical Task Team to work with States Commissioners of Police, Commandant of Civil Defence Corps and other
senior Military officials in the States to respond rapidly to any reported logjam involving foodstuffs or livestock. “That this opportunity should not be used to transport contraband items including illicit drugs, arms and ammunition and that the National Union of Road Transport Workers be engaged in the Task force strategy. “That the four Ministers to convene a Periodic Review Meeting to assess the situation and advise the Chairman of the Presidential Task Force on COVID-19,� it stated.
MONDAY APRIL 27, 2020 • T H I S D AY
21
22
T H I S D AY Ëž Í°ÍľËœ Í°ÍŽÍ°ÍŽ
Firm Rolls Out Free Remote Work Solution Emma Okonji Information Technology (IT) solution provider, Tranter IT has rolled out a digital solution that helps companies stay connected while working from their home at no cost. The solution known as Zoho Remotely, enables employees to work remotely by offering a complete suite of web and mobile applications that help them communicate, collaborate and be productive. Since the spread of the coronavirus pandemic, businesses have been on a lockdown enforced by different governments around the world. The solution is expected to help Nigerians work from home to cushion the effect of the lockdown aimed at containing the virus. With the Zoho Remotely, companies can now work from the comfort of their homes without interruptions in their operations. Zoho Remotely suite of apps enables companies to hold their team meetings, customer support calls, or important sales presentations in a seamless manner.
Announcing the solution, the Executive Director, Tranter IT, Melanie Ayoola, said in a statement: “We all know that faceto-face interactions and in-person collaborations are the best ways to work. The next best option is to work remotely. With the right set of apps, you can maintain a close-knit and productive working environment, no matter where your team is based.� According to Ayoola, “As an IT support company we understand that working remotely can be overwhelming for any management, especially as it relates to monitoring and managing teams. 85 percent of our clients have reached out to us to help them strengthen their remote working operations while away from the office and onsite infrastructure,� she said. “We have had great success using these solutions and we decided to share with 5 online tools that we use daily and could not do without. “Remotely will remain free till July 1, 2020 by which time the Coronavirus crisis would have ended.�
Afreximbank Unveils $3m COVID-19 Grant for African Countries Emma Okonji The African Export-Import Bank (Afreximbank) has announced a $3 million grant to complement efforts to combat the COVID-19 pandemic across African countries. Afreximbank President, Prof. Benedict Oramah, who made the announcement in Cairo, recently, said the fund was in response to a request by African heads of state, through the auspices of the African Union Chair Person, Cyril Ramaphosa, President of South Africa, for the mobilisation of resources to address the pandemic. He said a significant proportion of the grant would go to the COVID-19 Special Fund set
up by the African Union (AU) as well as to the African Center for Disease Control (Africa CDC). Oramah said: “We hope that our modest contribution will help to address some of the immediate needs. We encourage other African banks, funds, corporations and charitable organisations to also contribute to the relief effort. “Afreximbank is working with the United Nations Economic Commission for Africa (ECA) and the AU to help mobilise grant funding for the COVID-19 mitigation responses.� Highlighting the need for wide institutional support for the COVID-19 response effort, he said: “No one country or
institution will be able to rise to the challenge of the pandemic on its own.� Afreximbank’s grant support comes in addition to several initiatives the Bank is taking to support the effort in fighting the pandemic, such as the $3 billion Pandemic Trade Impact Mitigation Facility (PATIMFA), which it launched in March, to help African countries deal with the economic and health impacts of the COVID-19 pandemic. The Bank has also set aside an amount of $200 million for use in financing the production of COVID-19 equipment and supplies within Africa. Oramah, said the resource
constraints and urgent nature of interventions on the ground required significant grant financing to ensure timely support for emergency interventions in combating the pandemic. Afreximbank have always supported African countries in times of crisis. For instance, in November 2014, the Bank contributed $1 million to the effort to combat the outbreak of the Ebola virus disease which affected several countries in West Africa. Also, in 2019, Afreximbank donated $1.5 million to countries in Southern Africa to support relief efforts for victims of Tropical Cyclone Idai.
‘Banks to Resume Cheque Clearance after Lockdown’ Deposit money banks in the country are expected to resume clearing of cheques once the lockdown imposed by President Muhammadu Buhari in two states and the Federal Capital Territory (FCT) is either lifted or relaxed. An official of the Central Bank of Nigeria (CBN), who pleaded to remain anonymous, disclosed this in a chat with THISDAY, saying the decision of the President concerning the lockdown in Lagos and Ogun as well as the FCT would determine the resumption of cheque clearance. In view of the initial 14-day lockdown announced by the president, the CBN had suspended until further notice, the clearing of cheques instruments
in the Nigerian Clearing System. The CBN had stated this in a circular that was signed by its Director, Banking Services Department, Mr. Sam Okejere, that was addressed to all banks and the Nigeria Interbank Settlement System, a copy of which was posted on its website. “For the avoidance of doubt, no fresh cheque instrument will be allowed to pass through the clearing system on March 31, 2020. Only returned cheque would be treated to the said date. However, settlement activities for electronic instruments will continue to hold during this period of suspension. Please be guided accordingly,� it had explained.
NPA: None of Our Staff Contracted COVID-19 Eromosele Abiodun The Nigerian Ports Authority (NPA) has refuted reports that a senior member of staff at the agency has been diagnosed with COVID-19. In a statement by its General Manager, Corporate and Strategic Communications, Jatto Adams, the NPA described the report as baseless and unfounded. According to the NPA, “The fact is that a member of staff of one of the terminals at the ports, who has not been at the office since Friday April 17, 2020 had visited his father-in-law and family during the weekend of Friday, April 17, 2020 and Sunday April 19, 2020. “On arrival, he discovered that the medical practitioner father-in- law, his own wife and children had taken ill. “On Monday, April 20, they were all diagnosed with Coronavirus as a result of which he decided to isolate himself and get tested. He wrote to the office to inform them about the situation and his decision to self-isolate. “On Thursday, April 23,2020, he again wrote to inform the company that he had tested positive to coronavirus and
that the entire family was now receiving treatment at one of the isolation centres in Lagos.� The company, NPA added, immediately on the same day, Thursday, April 23,2020, wrote to inform and seek advice from the Coordinator of Health Ports Services in line with guidelines laid down by the National Centre for Disease Control (NCDC) for the report of COVID-19 incidents. The NPA added that the company, in line with advice from Port Health Services, has disinfected the premises adding that all personnel who interacted with the staff have been identified and asked to self-isolate. “The authority wishes to appeal to the media to verify information before going to press in order to avoid raising unnecessary tension. There are laid down procedures for the management of suspicions of COVID-19 incidents at the ports and the Authority will, in collaboration with all other government agencies, follow these processes through whenever the occasions arise. The NPA thanks all stakeholders and Nigerians for their support, “it stated.
FITNESS CHALLENGE
L-R: Fitness Instructor; Mr. Seyi Olusore; Winner, Three Crowns ‘Mum of the Year 2019’, Mrs. Abigail Oluwasegun; CEO, Blueprint360, Femi, Ogunsanwo, and Marketing Manager, Three Crowns, Mrs. Omolara Banjoko, during the ongoing Three Crowns fitness challenge in Lagos... recentl ETOP UKU T
Manchester Business School Donates Medical Equipment to NCDC Emma Okonji Alliance Manchester Business School Alumni Association (AMBSAA) Nigerian Chapter, has donated medical equipment worth over N2 million to the Nigeria Centre for Disease Control (NCDC), in Yaba, Lagos. President, Alliance Manchester Business School, UK (Nigeria Chapter), Mr. Ishmael Nwokocha, who led the group to make the donation recently, said the main motive of the donation was to lend the group’s support to the
fight against COVID – 19. He said the medical and hygienic products, were donated to the NCDC to assist the centre in providing adequate protection to the health workers who are on the frontline in their efforts to combat and contain the spread of the deadly coronavirus that has killed several people globally, including Nigeria. The category of materials donated included face masks, anti-bacteria hand wash, ethyl rubbing spirit, hand gloves hypo bleach, towels, cotton wool, methylated spirit, industrial mob
bucket and clinical dustbin. Nwokocha said the motivation to support the government at this trying moment, should not be compared with the amount spent in purchasing the items. According to him, “In as much as donation to the needy and less privileged is commendable and acceptable, we think it depends on what is donated and the target user. Our donation is made to the government agency coordinating and controlling the fight against this virus because they are made up of medical and
hygienic materials meant for use in the isolation centers and are not consumables. We considered that it will be meaningless to give these items to individuals. “The donation is in line with the objectives of the association which include: to be a network platform with opportunities for the education of members; to boost the image of our mother institution in Nigeria and render support to the institution; to support business ideas and social investments that we in no small measure, have contribute to national development.�
Group Kicks against Planned Relocation of SNEPCo’s Office to Lagos Eromosele Abiodun Youths under the aegis of the Rivers Youth State Federation (RSYF) at the weekend staged a protest at the Logistics Base of Shell Nigeria Exploration and Production Company (SNEPCO) over an alleged plan by the company to relocate its business to Lagos. A similar protest was staged by RSYF and the Onne Youth Council (OYC) in September 2018, The President of Rivers Youth State Federation (RSYF), Saviour Patrick, who led the peaceful
protest, said the fresh move by SNEPCO to move out of Rivers State could lead to significant job loss in the state and render many members of his group idle. A letter delivered to the company by the youths during the protest, and signed by Patrick and RSYF Secretary General, Abhili Tam, reads: “Our attention has been drawn to your recent plan of relocating to Lagos State of Nigeria from Onne Port in spite COVID-19 lockdown without informing your host community in a clear term as to your reason. “It is worthy of note that in
September 2018, your company launched the same bid which we vehemently protested in our great numbers and which took the intervention of the Director of DSS Rivers State Command and HRM Ateke Michael Tom to avert. This development therefore is worrisome. “We wish to refresh your memory that after the intervention by the two aforementioned authorities, certain resolutions were made at the Conference Hall of the DSS Rivers State Command in the presence of your company
representatives, DSS Director, NPA representatives, Oil and Gas Free Zones Authority (OGFZA) representatives and other, we suspended our protest. He added, “We now wonder why you are intentionally violating all the resolutions made on during that meeting and shortly after the protest was halted. “We therefore, in strong terms, condemn the inhuman and inconsiderate move by SNEPCO to leave Onne Port, Rivers State at this critical time when we are all working to combat a common enemy of human existence.
MONDAY APRIL 27, 2020 • T H I S D AY
23
24
MONDAY APRIL 27, 2020 •T H I S D AY
26
T H I S D AY Ëž Ëœ Í°ÍľËœ 2020
BUSINESS/MONEYGUIDE
NACCIMA Calls for Gradual Relaxation of Lockdown Dike Onwuamaeze The Nigerian Association of Chamber of Commerce, Industry, Mines and Agriculture (NACCIMA) has called for a review and gradual relaxation of the lockdown imposed by the federal government as well as some states, to contain the spread of COVID-19 pandemic in Nigeria. A statement at the weekend by the Director General of NACCIMA, Mr. Ayo Olukanni, commended the various governments for their determined efforts to stop the spread of virus through the use of various strategies for almost one month now and noted that it has become necessary to review the lockdown order and replace it with a more strategic approach. According to the association, the total lockdown was taking a toll on businesses
across the country. It stated that the ripple effects on security was becoming alarming; especially as miscreants seize the opportunity to rob citizens and break into business premises. “Consideration should be given to gradual opening of some businesses and other commercial operations. “Steps should therefore be taken to allow some categories of workers to resume work and business operations while keeping to safety protocols such as wearing of face masks, social distancing ban on large gathering etc and increase use of testing to identify those who may have been affected and requiring isolation and treatment. “Certainly, a lockdown order ad-infinitum is not sustainable and many of our members are of the view that this should be reviewed to ease the lockdown
without. This is of course without prejudice to the safety issues which is the duty of all,� he added. Olukanni noted that members of the NACCIMA across the country have made donations in kind and cash across the country to relevant groups and institutions in support of the governments’ efforts to mitigate the spread of the disease. “Our members have also been playing our roles on the committee we are serving such as the Federal Ministry of Industry, Trade and Investments’ committee to ensure uninterrupted supply of essential products and services at this difficult period. “ “This is a reflection of commitment of NACCIMA and its members to play its role in the fight against the deadly virus and its various negative economic and social impacts,� he said.
L-R: Factory Manager, Aquadana, Sekhar Jayaraman; President Lagos Food Bank Initiative, Mr. Micheal Sunbola; Mowo Yacim; Paul Ariyo; Gurvinder Singh; and other Volunteers of Lagos Food Bank Initiative, when the team from Aquadana Premium Drinking Water Factory presented a truck of bottled water to the Lagos Food Bank Initiative as their contribution towards the ďŹ ght against the spread of the COVID-19 pandemic in Lagos...recently
MARKET INDICATORS
Polaris Bank Marks First Year with N27.8bn Profit Polaris Bank Limited has recorded a profit before tax (PBT) of N27.8 billion for the financial year ended December 31, 2019. According to the statement by the bank at the weekend, the performance followed the turn-around initiatives undertaken by its leadership led by the Managing Director/ Chief Executive Officer (MD/ CEO), Mr. Adetokunbo Abiru. In addition, Polaris Bank Limited posted gross earnings figure of N150.8 billion within in the first full year of operations. The bank also closed the 2019 financial year with total assets of N1 trillion and shareholders’ funds of N83 billion, while it ended with capital adequacy ratio of 14 per cent and liquidity ratio of 81 per cent, which it stated were well above regulatory requirements. The bank’s customer deposits stood at N857.9 billion even as it continues to focus on stable,
low-cost deposits and welldiversified portfolio devoid of high concentration. Similarly, loan book stood at N261billion providing the bank with the desired headroom to accommodate required growth in risk assets to support the nation’s economic growth. The bank also recorded a return on equity (ROE) and return on assets (ROA) of 33 per cent and 2.4 per cent respectively. Commenting on the results, Abiru said: “The emergence of Polaris Bank on September 21, 2018, has heralded a new dawn as it laid the foundation for institutional competitiveness and service innovation in the nation’s challenging banking space. “We shall continue to run an ethically governed bank, upholding sound risk management practices and proactively taking measures to mitigate the impact of the adverse business environment while the board
and management continue to guide the bank towards a path of sustainable growth.� According to him, in 2020, despite the challenging macroeconomic environment, the bank remains poised to reap the benefits of its investment in both the capacity of its employees to improve service experience as well as in critical infrastructures that will support the digitalisation of its operations. The bank said it is a futuredetermining bank committed to the delivery of industry-defining products, services, and digital platforms across all the sectors of the Nigerian economy. The Bank is a member of the United Nations Environment Programme Finance Initiative (UNEP FI), which seeks to engage the private sector and the global financial sector to help create a financial sector that serves people and the planet while delivering positive impact.
Leadway Assurance Refunds Premium to Motor Insurance Clients Ebere Nwoji Leadway Assurance Company Limited has announced a refund to holders of its Personal Motor Comprehensive Insurance policy. The company said the move would serve as a palliative to buyers of the aforementioned policy in this period of business lock down due to pandemic. The Managing Director Leadway Assurance, Mr Hassan -Odukale, explained that the give-back pack was the equivalent of two weeks premium, paid by
the policyholders who were constrained to ground their vehicles in strict compliance of the lockdown order by the federal government, in alignment with the World Health Organisation’s social distancing recommendations�. He noted that the gesture became necessary considering the fact that he lockdown has had far reaching effects across the country, challenging both individuals and businesses. “People are watching and will remember how businesses treated them during this crisis. Our deci-
sion to provide the give back to our loyal comprehensive motor insurance policyholders will go a long way to support customers experiencing unforeseen pressure on their finances at this time. This is another way we are thanking our clients for supporting the FG to flatten the curve by staying at home.� He said towards the end of April, the company would credit to eligible customers the value of the airtime, equivalent of 50 per cent of a month’s premium following confirmation of the customers’ details.
FBNQuest Records N4.2bn Profit FBNQuest Merchant Bank Limited has declared a profit before tax (PBT) of N4.15 billion for the year ended 31st December 2019. This represented a 48 per cent increase from the N2.8 billion recorded in the previous year. The Chairman of the Board of Directors of the merchant bank, Mallam Bello Maccido, disclosed this at its fifth Annual General Meeting which held in Lagos, recently. The total assets of the group
also grew to N144.8 billion, from N134.5 billion in 2018. This performance was driven by robust growth in key business lines, especially in fixed income trading, corporate banking and asset management, a statement explained. While gross revenue declined by two per cent due to lower interest income in the period, operating income increased by eight per cent compared to the previous year as the bank ramped
up earnings from non-interest sources. Speaking at the AGM, the Managing Director and Chief Executive Officer of FBNQuest Merchant Bank, Mr. Kayode Akinkugbe said: “As we end our 3-year strategic cycle, we have transformed the business in line with the constantly evolving operating environment in order to achieve our goal of being the leading investment bank and asset management firm in Nigeria.
MONEY AND CREDIT STATISTICS
(MILLION NAIRA)
SEPTEMBER 2019 Money Supply (M3)
35,029,779.72
-- CBN Bills Held by Money Holding Sectors
7,374,356.91
Money Supply (M2)
27,655,422.82
-- Quasi Money
116,533,891.21
-- Narrow Money (M1)
11,121,531.60
---- Currency Outside Banks
1,625,047.69
---- Demand Deposits
9,496,483.91
Net Foreign Assets (NFA)
13,911,335.83
Net Domestic Assets(NDA)
21,118,443.89
-- Net Domestic Credit (NDC)
35,918,179.45
---- Credit to Government (Net)
10,452,199.38
---- Memo: Credit to Govt. (Net) less FMA
11,007,422.79
---- Memo: Fed. and Mirror Accounts (FMA)
25,465,980.07
---- Credit to Private Sector (CPS)
-14,799,735.56
--Other Assets Net
7,000,253.07
Reserve Money (Base Money
2,005,600.83
--Currency in Circulation
4,677,530.81
--Banks Reserves
317,121.43
Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹
Money Market Indicators (in Percentage) Month
March 2018
Inter-Bank Call Rate
15.16
Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)
14.00
Treasury Bill Rate
11.84
Savings Deposit Rate
4.07
1 Month Deposit Rate
8.82
3 Months Deposit Rate
9.72
6 Months Deposit Rate
10.93
12 Months Deposit Rate
10.21
Prime Lending rate
17.35
Maximum Lending Rate
31.55
Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ ÙÖÓĂ?ĂŁ Ă‹ĂžĂ? Ě‹ ͯ͹Ϲ
OPEC DAILY BASKET PRICE Ëœ Í°Íą Í°ÍŽÍ°ÍŽ
The price of OPEC basket of thirteen crudes stood at $15.23 a barrel on Thursday, compared with $12.22 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), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna
27
T H I S D AY Ëž Ëœ Í°ÍľËœ Í°ÍŽÍ°ÍŽ
MARKET NEWS
Access Bank Posts N211bn Earnings, N45bn Profit in First Quarter Goddy Egene Access Bank Plc has recorded gross earnings of N211.12 billion in the first quarter (Q1) ended March 31, 2020. This, represented an increase of 31.85 per cent above the N160.12 billion posted in the corresponding period of 2019. Net interest income rose from N56.838 billion to N72.212 billion, while non-fee and commission income improved from N13.068 billion to N22.998 billion.
However, impairment charges jumped from N3.375 billion to N8.582 billion. The bank recorded an increase in operating expenses from N55.14 billion in Q1 2019, to N90.31 billion due to the rise in AMCON fees and administrative expenses. Profit before tax (PBT) increased by 2.64 per cent from N45.10 billion to N46.29 billion in Q1 2020, while profit after tax settled at N40.92 billion in the period under review, from N41.14 billion in Q1 2019.
P R I C E S MAIN BOARD
F O R DEALS
A further analysis of the results showed that net loans and advances increased by 2.61 per cent to N3.14 trillion from N3.06 trillion in full year (FY) ended 2019, while customer deposits rose by 4.7 per cent to N4.45 trillion from N4.25 trillion in FY 2019. Total assets expanded by 1.87 per cent to N7.28 trillion from N7.14 trillion in FY 2019. Group Managing Director/ Chief Executive Officer of Access Bank Plc, Mr. Herbert Wigwe, had said last month said the
S E C U R I T I E S MARKET PRICE
QUANTITY TRADED
VALUE TRADED ( N )
bank completed the merger and business combination of the erstwhile Diamond Bank making it the biggest bank in Nigeria by total assets and number of customers as well as a significant retail footprint and infrastructure. According to him, the business combination allowed them complement their existing strong wholesale business with Diamond’s extremely developed retail business. He had added that the bank
T R A D E D MAIN BOARD
A S
intended to carry on the positive momentum from 2019 and invest in digital solutions including Artifcial Intelligence and advance analytics. “Our resolve is to ensure that our customers have best in speed, service and security. We projected merger synergies of N153.9 billion (cost and revenue) over three years. Thus far, we have recorded synergies totalling N42.8 million in nine months, of which N28.8 million is recoveries. In 2020, we expect
O F
to realise significant cost synergies, which will substantially cut down our cost and boost profitability. Being a systemically important Nigerian bank, we are aware that sustainable returns can only come from a sustainable and resilient business model. As such, our intent to embed resilience at the core of our financing activity is further strengthened, as we journey together to building a bank that is more than banking,� Wigwe said.
2 4 / 0 4 / 2 0 2 0 DEALS
MARKET PRICE
QUANTITY TRADED
VALUE TRADED ( N)
28
MONDAY APRIL 27, 2020 ˾ T H I S D AY
NEWS
Tension in Kaduna Community as Gunmen Kill Three People John Shiklam in Kaduna Tension has gripped communities in Kajuru Local Government Areas of Kaduna State following renewed attack which led to the killings of three people last Saturday. It was learnt that the gunmen, numbering eight and riding on motorcycles, invaded Chikwari village at the weekend at about 5:00p.m. and opened fire on the villagers, killing three people, and fleeing on their bikes immediately after the attack. The incident was said to have fueled tension and suspicion between the Adara indigenous ethnic group and the Fulani. Sources said the latest incident was one of several attacks on
communities in Kajuru which is barely recovering from bloody communal clashes that ravaged the area in early 2019. Condemning the incident, Kaduna State Commissioner for Internal Security and Home Affairs, Samuel Aruwan, warned communities against resorting to self-help to settle scores. Speaking at a security engagement with the people of the area yesterday in Kajuru, Aruwan urged them to always follow the law to settle grievances and not engage in jungle justice. “If Fulani people come under attack while grazing, they must not take the laws into their hands, rather, they must recourse to the law and
government. “Similarly, should Adara, in the course of farming and other activities come under attack, they must recourse to the law and not engage in jungle justice. This is not a Banana Republic,”
Aruwan said. He warned that “security operatives are working round the clock and will not waver for a second should anyone be found wanting in the unfortunate situation we find ourselves.
“As a government, we will not shy away from confronting threats to peace, law and order. “We will also not shy away from taking hard decisions that will better common good and public interest.”
According to the commissioner, as a “government working for the peace, security, unity and progress of Kaduna State, we will not toy with our constitutional and statutory responsibility.”
House Resumes Plenary Tomorrow Adedayo Akinwale and Udora Orizu The House of Representatives will tomorrow (Tuesday) resume plenary after about five weeks of break occasioned by the outbreak of the COVID-19 pandemic. The Green Chamber went on break on Tuesday, March 24, 2020 to allow members go to their constituencies to educate their constituents on the pandemic. It was however gathered that the leadership of the House decided to resume to consider the review of the 2020 budget as requested by the President and other emergency requests. In a notice to members, the Clerk to the House of Representatives, Mr. Patrick
Giwa directed the members to resume tomorrow. He stated: “This is to inform all members of the House of Representatives that the House will now resume Plenary Session on Tuesday, April 28, 2020 at 10.00 a.m. Members are advised to take note of the new date of resumption, please”. “The Covid-19 Guidelines approved by the federal government and Nigeria Centre for Disease Control (NCDC) and additional Guidelines developed by the House will be sent to members’ pigeon holes for collection on resumption. “Staff and members’ Aides are to work from home and be notified when needed in the office for any special assignment.”
Ogun Police Arrest Father, Son for Alleged Murder of Herdsman Kayode Fasua inAbeokuta A 45-year-old man, Kolese Womiloju, and his 25-year-old son, Taiwo Womiloju of Gbagba Elewure village in Odeda Local Government Area of Ogun State were yesterday arrested by men of the Ogun State Police Command for alleged conspiracy and murder of one Abubakar Sidi Usman, a 32-year-old herdsman. The suspects were arrested following a report by one Usman at Odeda Police Divisional Headquarters that the deceased, who was his younger brother and owner of a cattle settlement
at Gbagba Elewure village, had gone missing. According to a statement by Ogun’s Police Public Relations Officer (PPRO), Mr. Abimbola Oyeyemi, a deputy superintendent of police, a search party was promptly organised for the missing herdsman. His corpse was found in an abandoned well in a bush in the village. The Divisional Police Officer (DPO), Odeda Division, Mr. Ajayi Williams, a chief superintendent of police, reportedly led detectives to the scene, where the victim was found with deep machete cuts all over his body.
WASSCE Not Cancelled, Says WAEC The West African Examinations Council (WAEC) has said it has not cancelled the West African Senior School Certificate Examination (WASSCE) for school candidates 2020 as claimed by some social media posts. The council is also not refunding N22,500 to candidates for cancelling the examination. WAEC’s Head of National Office, Mr. Patrick Areghan, said in a statement yesterday that the council had only postponed the examination because of the COVID-19 pandemic and would reschedule once the public health
scare goes away. “WAEC, as an examining body in the sub-region, has not announced the cancellation of the examination; it only announced a postponement until normalcy is restored.” The HNO also said contrary to the report, the Council charges N13,950 for the examination, not N22,500. “The examination fee is N13,950.00 only, not N22,500.00. It is, therefore, not reasonable to refund candidates an amount higher than what they had paid to register for the examination.
CORPORATE SOCIAL RESPONSIBILITY…
Factory Manager, Nestlé Flowergate Factory, Mr. Ibukun Ipinmoye (left), and Deputy Governor of Ogun State, Mrs. Noimot Salako-Oyedele, during Nestlé’s donation of its products to Ogun State Government, in Abeokuta...weekend
IG Orders Manhunt for Fleeing Killers of Seminarian Kingsley Nwezeh in Abuja The Inspector-General of Police (IG), Mr. Mohammed Adamu, has ordered a manhunt for suspected killers of Catholic seminarian, Mr. Nnadi Michael of the Catholic Good Shepherd Major Seminary at Gonin Gora, Kakau in Chikun Local Government Area of Kaduna State. Three members of the gang, who kidnapped the seminarian, were also arrested by police detectives. The kidnap gang on January 9, 2020, stormed the catholic
seminary and kidnapped four seminarians, murdered one of them in cold blood and released the remaining three on January 31, 2020, having obtained a ransom. The remains of the fourth seminarian were found in a bush abandoned. A statement issued by Force Headquarters in Abuja listed the arrested suspects to include Tukur Usman, a male, 37, father of 7; Shehu Bello ‘m’, 40, father of 5 and Mustapha Mohammed ‘m’, 30, father of one, all from Igabi Local Government Area of Kaduna State. It said they were arrested
after several months of intensive and extensive intelligence-led operations by crack detectives of the Intelligence Response Team (IRT). According to him, “Discreet investigations so far revealed that the arrested suspects are part of a 19-man gang that also carried out the kidnap of Dr. Phillip Ataga’s wife and her two daughters on January 24, 2020, at Juji community in Chikun LGA of Kaduna State. “Mrs. Ataga was killed by the gang following her heroic resistance to the despicable and inhuman attempt by the
leader of the gang to rape her. The suspects, after killing her, released the daughters and corpse of the slain woman to the family after collecting ransom.” The statement signed by the Force Public Relations Officer and Deputy Commissioner of Police, Frank Mba, said further investigations revealed that the same criminal gang is responsible for the kidnap of six students and two teachers of Engravers College, Chikun LGA, Kaduna, from their school premises on October 3, 2019.
IPC, MRA Petition CCB over Violation of Journalists’ Rights in Ebonyi Two Lagos-based media support organisations, Media Rights Agenda (MRA) and the International Press Centre (IPC), have petitioned the Code of Conduct Bureau (CCB) asking it to sanction Ebonyi State Governor, Chief David Umahi for allegedly misconducting himself, breaching his oath of office and the Code of Conduct for Public Officers following his recent attacks on journalists in the state. In a complaint addressed to the Chairman of the Bureau pursuant
to Paragraph 3(e) of Part One to the Third Schedule to the 1999 Constitution, as amended, the organisations contended that Umahi is unfit to continue to hold the office of governor and requested the Bureau to investigate the matter and invoke the provisions of Paragraph 18(2)(a) and (b) of the Code of Conduct for Public Officers contained in the Constitution to secure his removal from office and disqualification from holding any public office in Nigeria for the next 10 years.
Signed by MRA’s Executive Director, Mr. Edetaen Ojo; and the Director of the IPC, Mr. Lanre Arogundade, the petition recounted the April 18 arrest of Mr. Chijioke Agwu, a reporter with the The Sun newspaper, on the instructions of the governor. They also recalled the April 22 state-wide radio and television broadcast by the governor in which he banned for life Agwu and Peter Okutu, a correspondent of the “Vanguard” newspaper, from entering the state Government House or
any other government facility in the state and from covering any government or official functions in the state. The organisations attached an audio recording of the governor’s broadcast to the petition, saying it contained inciting statements against the two journalists whom he banned, thereby putting their lives at risk, as well as threats to other journalists in the state whom he said would face dire consequences should they publish any negative story about his government.
PDP Condemns Distribution of ‘Unhealthy, Expired Rice’ to Nigerians Yinka Kolawole in Osogbo The Peoples Democratic Party (PDP) yesterday accused the All Progressives Congress (APC)-led federal government of allegedly donating contaminated and poisonous rice to Nigerians as COVID-19 palliatives. PDP in a statement issued by its Deputy National Publicity Secretary, Prince Diran Odeyemi, accused the federal government of distributing ‘rotten rice’ seized by the Nigeria Customs Service
(NCS) many years ago instead of using the money donated to Nigerians to buy food items as palliatives for them. The party spokesperson also accused the APC-led government of foul play in the circumstances deployed by the government to rate and determine who is poor in Nigeria. Odeyemi further stated that “it is also lack of initiative and poor judgement if the best method and option deployed by the government is to give financial
succour only to Nigerians with less than N5,000 in their bank account or citizen who are not able to top their mobile phone with more than N100 whereas they know where the poor Nigerians lives when they want their votes.” The PDP made reference to a widely circulated video clips where NCS had declared millions of seized bags of rice as unfit for human consumption going by the chemicals purportedly used by the smugglers in preserving them before bringing them to Nigeria,
and as such, there was no basis for the federal government through the same agency to consider releasing such to Nigerians as palliatives. “It is irreconcilable if in the name of saving the lives of Nigerians against the coronavirus pandemic, the same government is giving Nigerians poisonous rice as palliative; we wonder how a government that claims to value the lives of its people will openly toy with the idea of feeding them with expired food,” he stated.
29
MONDAY APRIL 27, 2020 ˾ T H I S D AY
COVID -19 UPDATE...
COVID -19 UPDATE...
Kano Loses Four Professors, Others in 48 Hours Falana asks Ehanire to publish full report on investigation
Davidson Iriekpen in Lagos and Ibrahim Shuaibu in Kano No fewer than 30 prominent people, including four professors have lost their lives within the last 48 hours in Kano State. Three out of the four Professors are serving members of the academic community of the Bayero University, Kano (BUK). The list includes, Professor Balarabe Maikaba of Faculty of Communication; Prof Sabo Kurawa, Sociology Department,
and Prof. Umar Dikko of Physiology department. A renowned Professor of Economics, Prof. Ibrahim Ayagi, was also among the list of high-profile academics that died within the last 48 hours in Kano. This is coming as a human rights lawyer and Senior Advocate of Nigeria (SAN), Mr. Femi Falana, has asked the Minister of Health, Dr. Osagie Ehanire, to publish the full report of the investigation into the recent deaths in the state.
Prominent among the people that died on Sunday (Yesterday) were Professor Maikaba; Hajia Mairo Ado, Assistant Corp Commander (ACC Admin) FRSC; Alhaji Tasiu Sharifai, Sarkin Kasuwa of Kofar Wambai; Chairman of All Progressives Congress (APC) in
Tarauni Local Government Area, Alhaji Muhammad Idris, and Alhaji Usman Aliyu Shanono , a businessman, residing at Gwale Local Government Area. Late Maikaba was the Former Head of Mass Communication Department, Bayero University Kano, and also Professor of Mass
Communications. In a letter addressed to the minister yesterday on behalf of the ‘Alliance on Surviving COVID-19 Action Programme and Beyond,’ of which he is interim chairman, Falana said the state seems overwhelmed and asked the federal government
to take control of the situation. “In addition, we are compelled to request for a certified true copy of the report of the joint investigation conducted by the Federal and Kano State Ministries of Health into the strange deaths and mass burials taking place in Kano State.”
Fear Grips Maiduguri Residents as Two Patients Flee Michael OlugbodeinMaiduguri Fear has gripped residents of Maiduguri, the Borno State capital as two patients, Abbas Hassan, a 24 year-old male and Hauwa Mohammed, 42-year-old female, have ran away after testing positive for COVID-19 at the University of Maiduguri Teaching Hospital (UMTH). The male patient is said to be residing at Layin Tanki in Gwange II while the woman lives in Shuwari ward, both in Maiduguri. Borno State Commissioner for Health and Secretary to the state’s high-powered response team for the prevention and control of COVID-19, Dr. Salisu Kwaya-Bura alerted the public at the team’s daily media briefing held yesterday. The commissioner said the male patient (Abbas) was in
initial telephone contact with the response team after his sample was collected, but eventually switched off his phone when he learnt he tested positive. He also said a phone number through, which the patient’s mother was in touch with the team was also been switched off. “When samples of patients with contacts to index cases are collected, they are normally advised to go on self-isolation. They give their contacts so that they can be reached when results are out. This is the standard medical procedure. You cannot detain someone with suspected contact. “We do not have the lawful powers to do that. Other patients were also allowed to leave but they came into isolation centres and we have 19 of them in two isolation centres. However, the young man in question chose to go into hiding”.
Ondo Rejects FG’s Expired Rice The Ondo State Government has rejected expired bags of rice from the 1,800 bags sent to the state by the Federal Government. The federal government sent about 1,800 bags of rice and vegetable oil to the state as part of measures to cushion the effect of the COVID-19 lockdown in the country. The state Governor, Mr Rotimi Akeredolu, has ordered the return of some bags of rice sent to the state by the Federal Ministry of Humanitarian Affairs and Disaster Management as they were found to have expired. Speaking on the development, the Secretary of the state palliative committee, Mr. Alex Kalejaiye, confirmed that some of the bags of rice had expired and were no
longer fit for consumption. According to him, the bad rice will be separated from the good ones and the good ones will be taken to the laboratory to ascertain if they were fit for human consumption. He said, “We discovered that some of the bags have expired and not good for consumption at all, so we are separating them from the ones that are still manageable for consumption. After this, we will still take the ones that appear good to the laboratory to test if they are fit for consumption.” It was gathered that when it was discovered that some of the rice had expired, the governor reportedly ordered that they should be rejected.
Nigerian Lawyers Sue China for $200bn A coalition of Nigerian legal experts has filed a class action suit against the Peoples Republic of China over the effects of the coronavirus pandemic effect on Nigerians. They are demanding $200 billion as damages for the “loss of lives, economic strangulation, trauma, hardship, social disorientation, mental torture and disruption of normal daily existence of people in Nigeria.” A statement by the lead counsel, Prof. Epiphany Azinge (SAN), whose firm, Azinge and Azinge, is championing the action, said they had concluded pleadings for the class action against the
Chinese government. Azinge is a former DirectorGeneral of the Nigeria Institute of Legal Studies (NIALS) and a current member of the Commonwealth Arbitral Tribunal London, representing Nigeria and Africa. He said: “The team of legal experts planned a two phase line of action-: first is with the federal high court of Nigeria and secondly to persuade the government of Federal Republic of Nigeria to institute a state action against the Peoples Republic of China at the International Court of Justice at the Hague
DELIVERING THE PALLIATIVES…
L-R: Kwara State Commissioner for Agriculture and Rural Development, Mrs. Harriet Adenike Afolabi-Oshatimehin; Secretary to the State Government, Prof. Mamman Saba Jibril; and Deputy Director in the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development, Dr. Abubakar Suleiman, during the presentation of federal government’s palliatives to the state, in Ilorin...yesterday
BUHARI’S DILEMMA: TO LIFT OR EXTEND COVID-19 LOCKDOWN “The university has made this necessary decision in order to decontaminate the centre following exposure to an outpatient who was seen at the centre on Monday, April 20, 2020, and immediately referred for COVID-19 testing. The medical centre was notified of the results on Friday, April 24, 2020, and immediately sought the guidance of the COVID-19 response team and institutional infectious disease experts,” it said. Lagos Arrests 39 Strippers, 580 Violators of Lockdown The Lagos State Police Command has arrested 620 violators of the lockdown imposed by the federal government to flatten the curve of the COVID-19 pandemic. Among the arrested violators were 39 strippers and club-goers, a cleric who held group prayers, 95 interstate travelers and other random motorists and fitness enthusiasts. Acting on credible intelligence, operatives from Idimu Police Station had arrested 39 suspects in a hotel at Idimu, for clubbing and strip teasing, in violation of the lockdown order and social distancing regulations. The 95 interstate travelers were passengers in seven commercial vehicles who were arrested based on a tip-off to operatives from Denton Police Station. Confirming the arrests, the state police spokesman, Mr. Bala Elkana, a Deputy Superintendent of Police (DSP), said the buses were impounded while the drivers and passengers were charged to a mobile court. Lagos Govt to Distribute 3m Masks The Lagos State government has also said it is producing three
million face masks for distribution to the vulnerable in the state. Governor Babajide Sanwo-Olu in a tweet on his official handle yesterday, said the planned distribution of the face masks was part of the state’s preparations for compulsory wearing of face masks. While restating that face mask protects people from droplets from coughing and sneezing, Sanwo-Olu noted that it should be used in conjunction with social distancing as well as other safety guides to curb the spread of COVID-19. Kaduna Extends Lockdown by 30 Days The Kaduna State government has also extended the lockdown occasioned by the outbreak of the pandemic in the state by 30 days. The government had imposed quarantine orders on the state for one month beginning from March 26. A statement yesterday by the media aide to Governor Nasir El-Rufai, Mr. Muyiwa Adekeye, said the governor’s extension decision followed the recommendation of the State Standing Committee on COVID-19, chaired by the Deputy Governor, Dr. Hadiza Balarabe. It said the increasing record of cases in neighbouring cities, especially Abuja, called for stiffer measures to curb the spread of the pandemic. The government stated that the lockdown extension was effective from yesterday, adding that the two-day window during which the restriction of movement was relaxed on Tuesdays and Wednesdays has been reduced to only one day - Wednesdays.
Suspected Killer of Fasoranti’s Daughter Tests Positive One of the four suspected killers of Mrs. Funke Olakunrin, a daughter of the Leader of Afenifere, Chief Reuben Fasoranti, has been identified as one of the two new confirmed cases of COVID-19 in Ondo State. The suspect, along with three others, were ordered to be remanded at Owo Correctional Centre by the Magistrate, Ms. Victoria Bob-Manuel, after their samples must have been taken for COVID-19 screening to prevent them from infecting other inmates in case they are positive The confirmation of the status of the suspect was later disclosed by the Governor, Mr. Oluwarotimi Akeredolu (SAN), in his Twitter handle. Agbakoba Canvasses Herbal Cure, Kicks against Lockdown A former President of the Nigerian Bar Association (NBA), Mr. Olisa Agbakoba (SAN), has canvassed a review of the nation’s strategy on the fight against the pandemic to include all retired professors of virology and infectious diseases in the country to complement the efforts of the NCDC. Agbakoba, in a telephone interview with THISDAY, also emphasised the need to include traditional herbal medicine in the fight against the pandemic. He urged the federal government to end the lockdown, which has caused more hardship than expected, saying it is not a viable option. The legal luminary also advised the federal government against going to Western nations or the international monetary institutions for financial assistance, saying instead, Nigeria should look
inward to solve its problem. While commending the government on how far it is combating COVID-19, he said the NCDC was being over-stretched and needed to add capacity to assist its Ihekweazu by bringing out all retired professors of virology and infectious diseases to boost its capacity to effectively combat the pandemic. BUA Commits N3.3bn to Fight COVID-19 Meanwhile, BUA Foundation, a philanthropic arm of the BUA Group, has signified its intention to commit N3.3 billion grants to Kano and Lagos States through the Presidential Task Force on COVID-19 to help in the ongoing fight against the pandemic in the two states and the country in general. The Founder of BUA Foundation, Mr. Abdul Samad Rabiu, in a letter addressed to the presidential task force informing it of the proposed grants, said the grant would be made through a working group made up of the presidential task force, the NCDC and other stakeholders. He stated that the fund would be used to equip two permanent facilities in Kano and Lagos States in collaboration with the teaching hospitals in those states. According to Rabiu, two grants of N2 billion would go to the Kano-based intervention and N1 billion for Lagos State while cash of N300 million would be given to the presidential task force to assist it with logistical and operational activities. He explained that the grant was in addition to BUA’s earlier contributions to the private sector-led CACOVID coalition and donations to other states.
ActionAid, Farmers Raise the Alarm over Looming Food Crisis Peter Uzoho Worried by losses recorded by farmers resulting from inability to move their produce to the market due to the lockdown of some states, ActionAid Nigeria and women farmers under the aegis
of Small--Scale Women Farmers Organisation in Nigeria (SWOFON) have called on the federal and state governments to wade in to avoid food crisis in the country. ActionAid and SWOFON made the call during a joint virtual press conference held yesterday
with the topic: “COVID--19 and its Implications on Food and Agriculture; Smallholder Women Farmers and Averting the Looming Food Crisis in Nigeria.” The conference was jointly addressed by the Country Director of ActionAid, Mrs. Ene Obi and
the President of SWOFON, Mrs. Mary Afan. According to a post-conference statement by the two bodies, farmers are experiencing massive post-harvest losses on fruits, vegetables, fresh products and other perishables.
30
MONDAY APRIL 27, 2020 •T H I S D AY
Ëœ ÍşÍżËœ ͺ͸ͺ͸ Ëž T H I S D AY
31
MONDAYSPORTS
Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY
Ebi: Falcons’ Dominance of Female Football in Africa over Femi Solaja with agency report
As the entire world is
grappling with how to combat the COVID-19 pandemic, Super Falcons star player, Onome Ebi, is doubtful
Arsenal to Return to Training Today Starting from today, Arsenal will re-open their London Colney training ground to their players for individual training but the Premier League club will continue to observe social distancing rules amid the coronavirus outbreak, the team announced at the weekend. Soccer in England was suspended indefinitely last month due to the virus and no clubs have been in training. “Players will be permitted access to the Colney grounds this week,� Arsenal said in a statement. “Access will be limited, carefully managed and social distancing will be maintained at all times. All Colney buildings remain closed. “Players will travel alone, do their individual workout and return home,� the club added. Arsenal Manager Mikel Arteta was diagnosed with the novel coronavirus on March 12, which led to the Premier
League postponing the next round of matches and none have been played since. Arsenal spoke to all their players after Alexandre Lacazette, David Luiz, Nicolas Pepe and Granit Xhaka were pictured allegedly breaking social distancing guidelines. Premier League clubs have been working on the basis that the earliest they may be allowed to resume training would be in early May. The British government is expected to review current lockdown restrictions on May 7. Should teams be allowed to train, it is expected they would need two to three weeks to get prepared to play competitive matches, making the earliest possible return in June. But with the ban on mass public gatherings likely to be one of the last restrictions to be lifted, rescheduled games will almost certainly be held behind closed doors.
Sport Minister Congratulates Oby Solaja on African Badminton Award The Youth and Sports Development Minister, Mr. Sunday Dare has heaped praises on Mrs. Oby Solaja following the honour bestowed on her as the recipient of the 2019 African Women in Badminton Award. The award, just days after Naomi Oyinloye broke a 20-year jinx to become the first Nigerian Certificated Umpire of the Badminton Confederation of Africa (BCA). Solaja becomes the second recipient of the award, following that of Gretha Prinsloo of South Africa who received the 2018 award last year during the BCA Annual General Meeting in Nanning China. The honour will be bestowed on her at the BCA Annual General Meeting 2020 at a date to be fixed later due to the current COVID-19 global pandemic. Oby Solaja, a seven-time African women’s champion and 10-time Nigeria national champion in her playing days is one of the pioneers of badminton at the Olympics.
According to the Sports Minister, Dare “I wish to register my profound congratulations to one of Nigeria’s pioneer International Badminton players Mrs. Oby Solaja for her recognition as the winner of the prestigious BCA award. This honour is not only well deserved, but symbolic. Coming at a time when Nigeria has shown commitment to the development of Badminton makes it special. “This award is not just for you, but one that has made every Nigerian proud. This is reward of your commitment, hard work and dedication as a pioneer badminton player, coach and administrator. “Indeed, it an honour well deserved. I urge you not to relent in using your pole position in the game to further develop the sport in our country. This is also a recognition of the sterling leadership of the President of the Badminton President Francis Orbir who has displayed astute leadership.� Dare enthused.
The IOC President, Thomas Bach (left), congratulating Oby Solaja during last year’s international badminton event held in Port Harcourt
about Nigeria’s chances of maintaining her dominance of female football in the continent in the coming years. Falcons struggled to retain their title in a nail-biting shootout victory against South Africa at the last edition of African Women’s Cup of Nations in 2018. The Nigerian side had dominated the continental event severally but lately failed to qualify for the third consecutive women’s Olympic Games after they were knocked
out by Cote d’Ivoire in the final continental qualifying series last year. In an interview with Brilafm. net yesterday, the FC Henan Huishang defender, who will turn 37 in two weeks, admitted that other countries on the continent have closed the gap and that Falcons need to work extra hard to remain the best in Africa. “As we all know, no team is unbeatable these days, it’s not like before when we beat countries 7-0 either home or
away. “It’s really difficult to beat team’s 2-0 lately. If we really want to keep our place as the best in Africa, we really have to work for it. “We have to keep training and playing friendly games to keep that standard. “Nobody is sleeping, every team is training hard, everybody wants to beat Nigeria and be the best in Africa and if we are not ready, someone else will take the title from us,� she pointed out.
In the last continental tournament in 2018, the Super Falcons made a shock losing start in Ghana with a late lone goal loss to Banyana Banyana of South Africa but bounced back to edge Desiree Ellis’ team 4-3 final via a penalty shoot-out. The 2018 triumph marked Ebi’s fourth AWCON title in six appearances, with Nigeria and she later became the first African player to play at five editions of the World Cup in France last year.
Arsenal’s players during a training session at their London Colney training ground in St Albans last February. Now, Manager Mikel Arteta has promised social distancing to be maintained as training resumes today
Tyson’s Marijuana Company Wants Barca’s Camp Nou Naming Rights Mike Tyson’s cannabis company hopes to secure the naming rights to Barcelona’s Camp Nou stadium, the former boxing champion’s business partner announced yesterday. Barcelona announced at the weekend that they will sell the naming rights to Camp Nou for the 2020-21 campaign and donate the proceeds to help in the fight against coronavirus. Many big companies are expected to line up with a bid
to have their name associated with the iconic stadium and prestigious club. However heavyweight champion Tyson is hoping he can fight off the competition and raise the profile of his company, SwissX, which sells a range of CBD and cannabisbased products. “It’s a great stadium,� Tyson’s business partner Alki David told BBC Sport: “It’s something we’ve specifically been looking for to adopt in
our company and it seemed like an amazing idea. “My company is a cannabis company and Spain has a long tradition within the European Union as being a leader or a liberal in the road towards legalisation, so it’s evolved quite naturally.� Asked if a deal with Tyson’s company could harm Barcelona’s reputation, David said: “That remains to be seen. The world is born on ideas.� David, a billionaire who
is involved with several companies, says he is already in talks with the Catalan giants and is optimistic about his chances of securing a deal. “This is an opportunity that I am bullish about. It is an historic moment in the history of sport and it fits well with my current plans,� he said earlier this week. “Contact was opened at the start of the week and I am quietly confident the deal will be secured.�
ZENITH BANK FUTURE EAGLES
NFF Assures COVID-19 Won’t Affect Tourney Nigeria Football Federation (NFF) has reiterated its commitment to conclude the annual NFF/Zenith Bank Future Eagles Championship. Rising from their video conferencing meeting at the weekend, the Executive Committee of the federation revealed that they are going to see to the completion of the competition involving the U-13 and U-15 immediately football resume in the country. It would be recalled that all sporting activities have been
suspended due to the outbreak of the COVID-19 pandemic across the world. In the communiquĂŠ released after the meeting chaired by the President of the NFF, Amaju Pinnick, the board said with the state competitions already concluded before the pandemic, they will try their best to finish up as soon as possible. “The NFF/Zenith Bank Future Eagles Championship, which state competitions have already been concluded (with some zones having also
completed their competitions) will run its full course immediately after the COVID-19 and resumption of football activities,� the communiquÊ read. While appreciating all their partners and sponsors, which includes Zenith Bank, the NFF also plans to meet up with them in coming weeks so as to chart a way forward immediately everything return to normal. Speaking on the development, the CEO of Zenith Bank, Ebenezer
Onyeagwu, said the outfit was very committed to the development of football in the country and sports in general especially from the grassroots. According to him, Zenith Bank has seen the impact of their investment in the Future Eagles, with some of them already playing for the various junior national teams. Onyeagwu however prays that everything return to normal as soon as possible around the world so that sports can return.
Monday April 27, 2020
TR
UT H
& RE A SO
N
Price: N250
MISSILE
Agbakoba to FG “We have retired professors of virology and infectious diseases. There is not a single one of them in this national strategy to combat COVID-19, I think that’s a big error” – Former President of NBA, Mr. Olisa Agbakoba (SAN), calling for the rejigging of the nation’s strategy on the fight against the COVID-19 pandemic.
ALEXOTTI OUTSIDE THE BOX
alex.otti@thisdaylive.com
Coronavirus: The Morning After ȁ ȱę ȱ ȱę ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱę ȱ ȱ¢ ȱ ȱ ȱę ȱ ȱ ȱ ǯȂ - C.S. Lewis
N
ot too long ago, the President of the US, Donald Trump, was engaged in ȱę ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ǰȱ ostensibly over the testing of ȱ ȱ ǯȱ ȱ ȱĚ ¡ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ Ȧ ȱ ȱ ȱ ¢ȱ ȱ ȱ ¡ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ę ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ¢ǯȱ ȱ ȱ ȱ £ ȱ ȱ ȱ ¢ȱ ȱ ¢ ȱ ¢ȱ ȱ ǯȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ǰȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ £ ȱ ǯȱ ¢ǰȱ ȱ ¡ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ę ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ¢ȱ ȱ ǯȱ ȱ ȱ ¢ ȱ everything to stop the spread of Covid 19 and ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱȁ Ȃȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ Ĵ ȱ ȱ ¢ȱ ȱ ȱ ȱ ¢ȱ ȱ Ȃ ȱ ȱ ȱ ȱ ȱ ǯȱ ¢ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ Ĵ ǰȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ Ĝ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ £ ¢ǰȱ ȱ ȱ ȱ ȱ ȱ Ě ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ ȱ ȱ ȱ ȱ ȱ ȱ ¢ ȱ ǯȱ ȱ ǰȱ ǰȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ ȱ ȱ ȱ ȱ ȱ ěȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ ȱ ¢ȱ ȱ ǵȱ ȱ ȱ ȱ ȱ ¢ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ǯȱȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ the emerging post Covid-19 era and the world ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱȃ ȱ ¢ȱ ȱ ȱ ¢ȱ ȱ Ȅǰȱ ȱ ȱ ȱ ȱ ȱ Ȃ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ¢ ǰȱ ȱ ȱ ȱ ȱ ȱ ¢ ȱ ǰȱ ¢ȱ ǰȱ ȱ ȱ ǰȱ Ȭ ȱ ȱ ȱ ę ¢ȱ ȱ ȱ ǯȱ ȱ ę ȱ ȱȱ ǻ ¢ ȱ Ǽȱ ȱ ȱ ȱ ȱ need of man is made up of the rudimentary ȱ ȱ ǰȱ ȱ ȱ ȱ ǰȱ ǰȱ ǰȱ ǰȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ǰȱ ¢ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ǰȱ ȱ ȱ ¢ȱ ǯȱ ȱ ȱ ȱ few months the needs of people around the world ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ ǯȱ ¢ǰȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ę ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ
Buhari ȱ ȱ ȱ ȱ ȱ ȱ ȱ Ȭŗşǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ǯȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ £ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ Ĝ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱŚȱ ȱ ȱ ȱ ǯȱ ȱ ¢ȱ ȱ ¢ȱ ȱ ȱ ǯȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ¢ȱ ¢ȱ ȱ ¢ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ǰȱ ȱ ę ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ǰȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ǰȱ ȱ ȱ ǯȱ ¢ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱę ȱ ȱ ȱ ȱ ǯȱ ȱ ¢ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ě ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱȱ ȱ ȱ ȱ ǰȱ ę ¢ȱ ȱ ȱ Ȭŗşǰȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ǰȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ǯȱ ǰȱ ȱ ȱ ȱ ȱ ¡ ȱ Ȭ ¡ ȱ ȱ ȱŗşǰȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ¢ ǯȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ We had stated many times before that we ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ǯȱ ȱ ȱ ȱ ȱ ¡ ȱ ȱ ȱ ȱ Ȭŗşȱ ǰȱ ȱ ¢ ¢ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ¢ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ę ȱ ȱ ȱ ¢ǯȱ ¢ǰȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ Ȭ ȱ ¢ǯȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ǯȱ ¢ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ¢ȱ
ȱ ¢ȱ ȱ Ȃ ȱ ȱ ȱ ȱ ¢ȱ ¢ ǯȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ¢ȱ ȱ ȱ ¢ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ¢ ȱ ȱ ȱ ȱ ȱ ¡ ȱ ǰȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ Ȃ ȱ ǯȱ ǰȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ǰȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ avoidable importation of foreign goods to meet ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ ȱ ǰȱ ȱ ¢ȱ ȱ ȱ ¢ǯ ȱ ę ȱ ¢ȱ ǰȱ ȱ ȱ ¢ ȱ ȱ ȱ ȱ ȱ ǯȱ Ȭŗşȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ě ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ we had argued that the best way to ensure people ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ¢ȱ ȱ ǰȱ ȱ Ȭŗşǯȱ ȱ ȱ ȱ ¢ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ¢ȱ ȱ ȱ ę ȱ ȱ ¢ǯȱ ȱ ǰȱ ȱ ǰȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ Ȭ ȱ ǯȱ ȱ that the planting season is here, state governors ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ £ ȱ ȱ ȱ ȱ ȱ ¢ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ¢ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ all the energy that it hitherto lavished on oil into ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¡ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ Ȭŗşȱ Ȭ ȱ £ ǯ Ȭŗşȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ Ě¢ȱ ȱ ȱ ȱ ǯȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ǯȱ ȃ ¢ȱ ȱ ¢ ȱ ȱ ȱ ȱ ǰȱ ¢ȱ ȱ ȱ ǰȱ ¢ǰȱ Dubai and Singapore” you would hear some ȱ ¢ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ¢ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ Ȭŗşǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ health system be properly funded and seriously ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ę ȱ Ȭŗşȱ ȱ ȱ ȱ ȱ ȱ Ĵ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱęĴ ȱ ȱ ǰȱ ȱ ȱ Ĵ ȱ ȱ ȱ ǰȱ ȱ ȱǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ǰȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¡ ȱ ȱĚ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ
¡ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ now to plant those greener pastures here and ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ Ě ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ Ĵ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ǯȱ ȱ ¡ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱǻ ǭ Ǽǯȱ ȱ ȱ Ĵ ȱ ¡ ¢ȱ ȱ ȱ ȱ ȱ ȱ that we all agree that we have failed our nation ȱ ǯȱ ȱ ȱ ȱ ȱ Ĵ ȱ ȱę ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ǭ ȱ ȱ ȱ ȱ ȱ ě ȱ ȱę ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ǰȱ ǰȱ ¢ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ě ȱ ǭ ǯȱ ȱ ȱ ¢ȱ ȱ ȱ ¢ȱ ǯȱ ȱ ȱ ¢ȱ ȱ ¢ȱ ȱ ǭ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ǰȱ ȱ Ȭŗşǯȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ǰȱ
ȱ ȱ ě ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ Ĵ ȱ ȱ ȱ ȱ ȱ ȱ ǯ There is no doubt that we will not be able to ȱ ȱ ȱ ȱ ȱŘŖŘŖȱ ȱ ¢ ǯȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱǞŗŖ ȱ ȱ ȱ ȱ ¡ ȱ ȱ ę ǰȱ ȱ ȱ ȱ ȱ ȱ Ǟşś ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ǯȱ ȱ ¢ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¡ ȱ ǯȱ ȱ ȱ ě ȱ ȱ ȱ ȱ ȱ ¡ ȱ ¢ ǯȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ Ĵ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ Ĵ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¡ ¢ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ¡ ȱ ȱ ȱ ǯȱ ȱ ȱ ¡ ǰȱ¢ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ¡ ¢ ǯȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ¢ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ¢ǯȱ ǰȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ǯ ¢ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ǯȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ £ ǯȱ ǰȱ ȱ ȱ ȱ ¢ȱ ȱ ě ǰȱ ¢ȱ ȱ ȱ ȱ ǯȱ Stores, malls and digital platforms would be the ę ǯȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ǯȱ ȱ ȱ ȱ ȱ ȱ ȱ reassess their business model as people would ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ǯȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ǯȱ ȱ ȱ ȱ ȱ £ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ȱ ǰȱ ȱ ȱ ȱ ȱ ȱ ¢ǯȱ ȱ ǰȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ȱ ȱ ¢ȱ ȱ ȱ ȱ ȱ ȱ ¢ ǯȱ ȱ ȱ ȱ Ƿȱ
Printed and Published in Lagos by THISDAY Newspapers Limited. Lagos: 35 Creek Road, Apapa, Lagos. Abuja: Plot 1, Sector Centre B, Jabi Business District, Solomon Lar Way, Jabi North East, Abuja . All Correspondence to POBox 54749, Ikoyi, Lagos. EMAIL: editor@thisdaylive.com, info@thisdaylive.com. TELEPHONE Lagos: 0802 2924721-2, 08022924485. Abuja: Tel: 08155555292, 08155555929 24/7 ADVERTISING HOT LINES: 0811 181 3085 0811 181 3086, 0811 181 3087, 0811 181 3088, 0811 181 3089, 0811 181 3090. ENQUIRIES & BOOKING: adsbooking@thisdaylive.com