MONDAY 4TH MAY 2020

Fidelity Bank Reports N6.6bn Q1 Profit, Reassures Stakeholders The Economist Ranks Nigeria High on Financial Strength Nume Ekeghe Fidelity Bank has reported N6.6bn Q1 profit, and has reassured its stakeholders that it will continue to take

measures to ensure the safety of customers, staff, and others during the COVID-19 pandemic. This is just as The Economist has ranked Nigeria high on

financial strength. Speaking at the bank’s 32nd Annual General Meeting (AGM) in Lagos on Thursday, Chairman, Board of Directors of Fidelity Bank, Mr. Ernest

Ebi, said the bank “remains committed to building a sustainable business, even in the midst of the challenges associated with the COVID-19 pandemic.”

Ebi, who was a former Deputy Governor of the Central Bank of Nigeria (CBN), explained that the board, in line with its oversight responsibilities, had been

meeting virtually, to strategise on new opportunity areas to cushion the impact of the pandemic and to sustain the Continued on page 10

CBN, Bankers' Committee Suspend Lay-offs in Banks... Page 5 Monday 4 May, 2020 Vol 25. No 9156. Price: N250

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FG Targets October Deadline for Oronsaye Report Implementation EFCC, ICPC, CCB to survive merger plan Fiscal Responsibility Commission, NAPEP, others to go Obinna Chima and Dike Onwuamaeze Barring unforeseen circumstances, the federal government wants to conclude

the process for implementation of the Stephen Oronsaye committee report by October, THISDAY has learnt. A reliable source in the Presidency disclosed the

move to THISDAY at the weekend while shedding light on a recent interview by the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, with a

national television station. The Presidential Committee on Restructuring and Rationalisation of Federal Government Parastatals, Commissions and Agencies

had submitted its report in 2012 during the former President Goodluck Jonathan administration. Better known as the Oronsaye report, the 660-page report had

recommended a reduction in the number of government agencies and parastatals by consolidating some and the Continued on page 10

Presidential Task Force Links Kano Deaths to COVID-19 170 new cases move tally to 2,558 with 400 discharged, 87 dead NCDC seeks access to Remdesivir for treatment of patients Speaks with NAFDAC to facilitate approval for use Cautions against use of Hydroxychloroquine Cloth masks can offer 80% protection, says US study Handlers of Abba Kyari’s body test negative Dangote Foundation sponsors 400 tests per day laboratory in Kano Ejiofor Alike, Segun James, Chinedu Eze in Lagos, Olawale Ajimotokan in Abuja and Ibrahim Shuaibu in Kano The Head of the Presidential Task Force on COVID-19 sent to investigate the high incidence of deaths in Kano State, Dr. Nasiru Gwarzo, yesterday linked the deaths to COVID-19, saying the results of 80 per cent of the tests conducted were positive for the disease. His report came on the day the Nigeria Centre for Disease Control (NCDC) said the tally for confirmed cases of the virus had climbed to 2,558 with 400 discharged and 87 dead.

It said there were 170 fresh cases yesterday spread across 12 states, including Lagos 39, Kano 29, Ogun 24, Bauchi 18, Kaduna 15, Sokoto 12, Katsina eight, Borno seven, Nasarawa three, Adamawa two, and Oyo one. Its Director-General, Dr. Chikwe Ihekweazu, however, brought good news, saying the agency was excited by the emerging successful clinical trials of Remdesivir in the United States of America and that efforts were being made to access it for the treatment of COVID-19 patients in Nigeria. But in Kano, Gwarzo said Continued on page 10

Aisha Abba Kyari Pays Tribute to Her Father... Back Page

ENHANCING THE FIGHT AGAINST COVID-19... Kano State Governor, Mr. Abdullahi Ganduje (left); and Managing Director/Chief Executive Officer of Aliko Dangote Foundation, Ms. Zouera Youssoufou, during the hand-over of COVID-19 testing laboratory donated by the foundation in Kano…yesterday

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Group News Editor Ejiofor Alike

Email Ejiofor.Alike@thisdaylive.com, 08066066268

CBN, Bankers’ Committee Suspend Lay-offs in Banks Downsizing to be approved by apex bank Again, Tinubu seeks interest rate reduction Obinna Chima The Central Bank of Nigeria (CBN) and Bankers’ Committee have agreed that commercial banks should not disengage their workers as a result of the disruptions emanating from the COVID-19 pandemic. The central bank, in a statement yesterday by its Director, Corporate Communications, Mr. Isaac Okorafor, said the decision was made at the end of a special meeting of the Bankers’ Committee held at the weekend. Also yesterday, the National Leader of the All Progressives Congress (APC), Senator Bola Tinubu, reiterated his call for the apex bank to slash interest rates so as to stimulate activities. The Bankers’ Committee meeting was to further review the implications of the COVID-19 pandemic on the banking industry. “The committee particularly deliberated on the issue of the operating costs of banks in view of the disruptions emanating from the global economic difficulties and decided as follows: In order to help minimise and mitigate the negative impact of the COVID-19 pandemic on families and livelihoods, no bank in Nigeria shall retrench or lay-off any staff of any cadre (including full-time and part-time). “To give effect to the above measure, the express approval of the Central Bank of Nigeria shall be required in the event that it becomes absolutely necessary to lay-off any such staff. The Central Bank of Nigeria solicits the support of all in our collective effort to weather through the economic

challenges occasioned by the COVID-19 pandemic,� the CBN said.

Again, Tinubu Seeks Interest Rate Reduction Tinubu yesterday reiterated his call for the apex bank to slash interest rates so as to stimulate activities. Tinubu, in a paper he wrote titled: “The Case against High Interest Rates in Time of Contagion,� and obtained yesterday, said keeping interest rate high would remain a fundamental drag on economic growth. He explained that lower rates would spur domestic investment and production, which would result in job and wealth creation. The former Lagos State governor, however, noted that lower rates would have some negative short-term impact on inflation and the exchange rate. “However, in a twist of irony, the economic dislocations caused by the coronavirus serve to mitigate those temporary negative consequences. If there is a time to reduce interest rates, that time is now,� Tinubu said. According to him, the economic fallout from the pandemic may present the best, most pressing case for revising the CBN’s high interest rate policy. He added that undue rates penalise domestic investment and consumer borrowing. This, he stated, reduced both aggregate domestic supply and, to a lesser degree, aggregate domestic demand. “The chronic gap between domestic supply and demand has been filled by bloated levels of imports and encouraged an

Kano Loses another Professor, Others to Apparent COVID-19 Ibrahim Shuaibu in Kano Barely 12 hours after the Emir of Rano in Kano State, Alhaji Tafida Abubakar Ila, died, the state yesterday lost Professor Isa Hashim, the traditional title holder of Jarman of Kano and two other prominent citizens. Hashim was one of the closest title holders to the Kano Emirate, which he represented in most of the government community engagements, especially on health issues. The late 86-year-old Jarman Kano died at his home, after a brief illness thought to be complications from COVID-19. At this day, the policy is to treat all unexplained deaths in Kano as COVID-19 related until proven otherwise, given the widespread positive cases of coronavirus in Kano State. He was a retired professor of political science, administrator and author. Also, a former member of the House of Representatives, Hon. Ubale Jakada Kiru, died yesterday. A former Commissioner for Education under the administration of Senator Kabiru Gaya, Malam Haruna Shanono, has also reportedly died. Haruna was the former Chairman of Shanono Local Government Area and a

chieftain of the All Progressives Congress (APC). The Emir of Rano, Abubakar Ila II, died on Saturday at a hospital in Kano at the age of 74. The late emir has been buried at the emirate. He is survived by two wives and 17 children. The deceased was earlier rushed to Aminu Kano Teaching Hospital (AKTH) last Friday. He was said to have been referred to Nasarawa Specialist Hospital owing to the absence of oxygen at the hospital. The late monarch was said to have been critically ill as of the time he was brought to the hospital. Reacting to speculations that the monarch may have contracted COVID-19, the Emirate Council, on its official twitter handle, had earlier dismissed the claim, saying the illness was not related to COVID-19. The tweet reads: “We are informing the public that there is a report going round on social media on the sickness of His Royal Highness, the Emir of Rano. “No doubt that His Royal Highness is sick, but glory be to Allah. At the moment he is recuperating and the sickness is not related to COVID-19 as reported in some quarters.�

overvalued exchange rate that the high interests have helped produce. “In normal times, the high interest rates also attract significant foreign financial speculation, the ever-ominous hot money. While in the shortterm, the foreign speculation boosts financial inflows. “Over time, as compound interest payments become due on these foreign investments, the nation will lose an everincreasing amount of money to satisfy foreign debt obligations,� he said. Tinubu explained that in the

short run, high rates would seem to attract foreign capital and spur the economy while giving it discipline against inflation. But he argued that this would, in the longer-term, be untrue as high rates would give the worst of both worlds. “They stifle domestic investment and incomes while pushing up inflation and exposing an ever-increasing share of our financial system to foreign manipulation and dependence,� he said. He, however, said the CBN had continued to

demonstrate its financial agility by establishing a growing number of special financing programmes for various industries and sectors. According to him, while such programmes look good at first glance, they also expose important contradictions in the CBN’s position. He said: “The special schemes are an implicit admission that normal rates stifle investment borrowing and thus suppress the economy. The extraordinary schemes would not be required if the general interest rate was at a proper level.

“By establishing the special programmes, the CBN attempts the impossible. On one hand, it defends the general rate as prudent. On the other, it proliferates special exceptions in order to spur investment borrowing that the general rate has heretofore stifled. “This complex CBN rearguard action does not serve the greater purpose. It merely prolongs the inevitable: We must retreat from high interest rates if we want investment borrowing to attain levels that actually increase private-sector growth and job creation.�

THE OLD AND THE NEW... Former Rivers State governor, Dr. Peter Odili (left), and Governor Nyesom Wike during the presentation of COVID-19 test equipment and reagents donated by PAMO Hospitals and Clinics to the Rivers State University Teaching Hospital, Port Harcourt...weekend

Edo, PDP Demand Arrest, Quarantine of Oshiomhole's Loyalists over Political Gathering Chuks Okocha in Abuja The Edo Progressives Movement (EPM), a faction of the All Progressives Congress (APC) loyal to the National Chairman of the party, Mr. Adams Oshiomhole, came under criticisms at the weekend for organising a mock governorship primary election last Wednesday. The state government and the Peoples Democratic Party (PDP) condemned the EPM for holding the primary, at the residence of former deputy governor of the state, Chief Lucky Imasuen, despite the restriction on social gathering ordered by the federal government to curb the spread of COVID-19. They called on the police as well as the federal and state governments to arrest and quarantine those who attended the political gathering. The state government, in a statement jointly signed by the Special Adviser to the Governor on Media and Communication Strategy, Mr. Crusoe Osagie, and the Commissioner for Communication and Orientation, Hon. Paul Ohonbamu, accused Oshiomhole of serial violations of directives to halt the spread of COVID-19 and cause crisis in the state by organising political gatherings through his group. The main opposition party and a group, the Governors' Mandate Network, also called

on the Inspector-General of Police, Mr. Mohammed Adamu, and the Presidential Task Force on COVID-19 to arrest those who took part in the primary. The Edo State chapter of the party also berated the Oshiomhole-led faction in the state for endangering public health in its desperation to replace the Governor, Mr. Godwin Obaseki, in the forthcoming election in the state. The PDP berated the Obaseki administration for lacking the courage to bring the associates of the national chairman to book for breaching safety measures to combat the virus. However, in condemning the primary, the state government said the illegal meeting termed ‘APC faction mock primary,' did not only go against the directives of the federal and state governments, but also jeopardised efforts to contain COVID-19, thereby endangering the lives of Edo people. The statement by the state government described the former governor’s actions as not only reprehensible but callous and selfish. It accused Oshiomhole of continuing in his alleged quest to cause a crisis in the state and destabilise the state’s chapter of the APC amid COVID-19 pandemic. “It is not surprising that Comrade Adams Oshiomhole has continued his doom-fated attempt to destabilise the Edo

State chapter of the APC. But what is most unconscionable is that he is propagating this move at the expense of the safety and wellbeing of Edo people. “By organising the supposed mock primary on April 30, 2020, with more than 50 persons in attendance, he is undermining efforts of different stakeholders in containing the spread of the virus and also dishonouring all those who have died from this virus. Those who organised the political gathering initially held at Lucky Imasuen's residence in Benin City later moved to different locations to continue their inglorious show of shame, in the perpetuation of the wishes of their puppet master. “The antics of Oshiomhole are well-known, but it bears repeating that he is on a mission to re-enact what happened in Rivers, Zamfara and Bayelsa in Edo State. He has continued to perpetuate the factionalising of the party in the state, with an intent to cause the party to lose its opportunity to participate in the forthcoming gubernatorial election,� it stated. The state government urged the presidency and the leadership of the APC at the national level to call Oshiomhole to order. In another statement, the Secretary to the State Government, Mr. Osarodion

Ogie, said it was despicable of Oshiomhole to organise such an event at a time the world was reeling from the havoc of COVID-19. Ogie noted that Oshiomhole’s actions are tantamount to spitting on the grave of the dead and endangering the lives of many others. Also reacting to the conduct of the primary, the Governors' Mandate called on Obaseki and the Nigeria Centre for Disease Control (NCDC) to prosecute Imasuen, Pastor Ize Iyamu, Odubu, and other loyalists who gathered at Imasuen's house to conduct the mock primary in violation of the social distancing rules. It urged Obaseki to ensure that about 200 persons, who were at the venue of the mock primary, were quarantined. The group, in a statement by its Chairman, Mr. Osaro Onaiwu, said information available to it suggested that some of the people at the venue of the mock primary were already on the run. "While some, it was gathered, are already in Abuja, some others have gone into hiding to avoid been quarantined as demanded by the mandate," it stated. It called on the IG and the COVID-19 task force not only to prosecute any of the members, who were at the venue, but to also declare them wanted to face the law and also be quarantined.

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Osinbajo Committee Asks EAC for Input into Reports Onyebuchi Ezigbo in Abuja The Economic Sustainability Committee (ESC), chaired by Vice President Yemi Osinbajo, has asked the Presidential Economic Advisory Council (PEAC) for input into its report on how best to approach the current economic challenges facing the country, THISDAY has learnt. It was gathered that the development followed a teleconference meeting held last Thursday between the committee and President Muhammadu Buhari’s economic advisory council to harmonise positions on various aspects of the former’s recommendations before submitting its final report to the president. It was learnt that during the teleconference, the presidential advisory team was provided with copies of reports of various subcommittees of the committee on proposals being made to fortify the economy and create

more jobs. THISDAY gathered that the presidential advisory council is expected to revert to the Osinbajo committee next week. The two economic teams had earlier had their first interactive meeting where both sides highlighted their concerns and observations. A member of the presidential advisory council told THISDAY at the weekend that the Osinbajo committee also gave some of the reports of its subcommittees to the presidential advisory members for their perusal and input. “The various sub-committees whose reports were received include the sub-committee on finance and stimulus package headed by the Minister of Finance, Mrs. Zainab Ahmed; the one on job creation headed by the Minister of Labour and Employment, Senator Chris Ngige; and the sub-committee on easing of COVID-19 lockdown

headed by the Minister of Works and Housing, Mr. Babatunde Fashola. “Fashola’s committee report on easing of lockdown is being implemented in line with the president’s broadcast but there are other aspects of the recommendations that need the input and advice of the presidential council before they are forwarded to Mr. President,� he explained. According to him, the presidential advisory team is expected to consider the reports by the various sub-committees on job creation, economic

diversification and mopping up of revenue sources in the country and reverting to Osinbajo’s team next week. "Both sides will meet again to fine-tune the report before presenting it to President Muhammadu Buhari. The idea is to enable the economic advisory team to make professional inputs into the report and possibly suggest ways of realising the set goals," he said. One of the major recommendations of the Osinbajo committee is the upward review of the proposed N500 billion economic stimulus package

meant to cushion the debilitating impact of the COVID-19 pandemic. In addition, THISDAY gathered that as part of the efforts to create more sources of revenue and reduce the current huge unemployment burden, the Osinbajo committee is proposing a new inter-ministerial initiative to scale up development of the agricultural sector. To this end, four federal ministries - Agriculture; Labour and Employment; Youths and Sports and Women Affairs are to synergise and also coopt states that are interested in the

implementation of the multisectoral agricultural venture. Apart from promoting massive investment in farming, the main intention of the new drive is to promote industrialisation using agriculture as the cornerstone. THISDAY gathered that the affected ministers will be meeting to draw an action plan towards achieving the objectives. Also, an inter-ministerial team is to be sent on advocacy visits to states to secure governors' support in the implementation of the agricultural initiative tailored to generate millions of jobs for Nigerians.

TCN, Discos’ Fight May Worsen Power Supply Woes Emmanuel Addeh in Abuja The frosty relationship between the Transmission Company of Nigeria (TCN) and Distribution Companies (Discos) is taking its toll on the supply of electricity to Nigerians, THISDAY gathered yesterday. Although the Nigerian Electricity Regulatory Commission (NERC) at the weekend waded into the crisis between both critical stakeholders in the Nigerian Electricity Supply Industry (NESI), THISDAY gathered that many of the issues tabled during the meeting remained unresolved. However, NERC, the sector’s regulatory agency, it was learnt, has decided to meet with the entire 11 distribution companies to sort out the rift between the transmission company, whollyowned by the federal government and Discos. A source privy to the weekend meeting, which followed the escalation of the altercation between the TCN and the Abuja Electricity Distribution Company (AEDC), told THISDAY that the continuous infighting within the industry had continued to worsen the electricity supply situation since there’s no synergy in the value chain. The source who preferred to be anonymous because he wasn’t mandated to speak on the outcome of the meeting, noted that the cold relationship between the two organisations had continued to fester because the “TCN still behaves like the defunct National Electric Power Authority (NEPA) by trying to lord it over other stakeholders.� It was gathered that many issues affecting supply lines in the country are left unresolved as power consumers are left to suffer because there is currently no coordination between the TCN and the Discos as a result of the blurring lines of communication. The TCN, in a public outburst last week, called for the capitalisation of Discos to be able to carry out their functions, adding that if the authorities did not act fast and grow the capacity of the Discos, the entire power supply system might collapse soon. But during the meeting

with the regulatory agency, the Chairman of NERC, Prof. James Momoh, was said to have warned against the infighting in the sector and called upon both parties to find common grounds so as not to compound the problems in the industry. On the decisions arrived at during the meeting, the source said: “It was basically to resolve the issues that both parties paraded in the public space, but NERC also said they are going beyond the AEDC as a Disco but will create a template for the 11 Discos. They are also going to investigate. The main report may come out after NERC has listened to other distribution companies. “A couple of issues cropped up, including coordination, the fact that feeders also trip at the TCN and are left for a long time and also the replacement of materials. “If transmission has lost a transformer - may be, a 100MVA transformer, that’s a big one to lose because it serves a lot of people. It goes off in flames; it means our customers are out of supply. So, there seems to be a blame game going on. But it also has to do with the structure of the industry.� The source added that though the power sector has been privatised , it is still being treated as a 'special MDA', with the “TCN still behaving like an overlord over other stakeholders�. He explained that though the sector is supposed to be in the hands of the private sector, there’s still so much government control, even to the extent that no board meetings can form a quorum without a government representative in attendance. According to him, the tight control of the power providers' supply chain is so strangulating that there is even a cap on what the distribution companies, for an example can spend on capital and operating expenditures. “What is happening with the TCN is that it is still behaving like the old PHCN or NEPA and wants to be controlling everybody. That’s why the TCN can come out and say Discos need to capitalise as if that’s the only solution to the problem of the power sector.

CORPORATE ASSISTANCE... L-R: Ekiti State Commissioner for Public Utilities, Mr. Bamidele Faparusi; Chief State Head, Ekiti State, BEDC Electricity Plc, Mrs. Kunbi Labiyi; and a member COVID-19 Committee, Ekiti State, Mrs. Margret Faboyo, during the presentation of COVID-19 donations by BEDC management to Ekiti State government in Ado-Ekiti‌recently

Analysts Explain Rising Banks’ Impairment Charges Goddy Egene The deteriorating macroeconomic environment and falling crude oil prices have made more banks to increase their provisions for loan losses in their first quarter (Q1) ended March 2020, THISDAY investigation has revealed. Improved risk management and recovery strategies adopted by banks have led to a significant decline in the provision for loan losses last year. However, out of the six banks that have released their Q1 results so far, four recorded a spike in their impairment charges, while two witnessed a decline. Access Bank Plc, GTBank Plc, Stanbic IBTC Holdings Plc and United Bank for Africa Plc recorded higher impairment charges, while FBN Holdings Plc and Ecobank Transnational Incorporated recorded lower charges. For instance, Access Bank booked impairment charges of N8.582 billion in Q1 of 2020, up by 154 per cent from N3.375 billion in the corresponding period of 2019. UBA recorded impairment charges of N2.642 billion in

2020, up by 54 per cent from N1.714 billion in 2019, while GTBank that made a provision of N651 million in Q1 of 2029 had to increase it by 87 per cent to N1.223 billion in 2020. Stanbic IBTC had witnessed a write-back of N1.391 billion in Q1 of 2019 but has to make a provision of N1.967 billion in Q1 of 2020. But ETI reported a decline of 27 per cent in impairment charges in 2020, which stood at N21.196 billion, down from N29.156 billion, while FBN Holdings’ impairment charges declined by 30 per cent from N13.847 billion to N9.7 billion. Although the huge impairment charges do not mean outright losses, investment and financial research analysts said the banks were raising the provisioning in line with the dictates of the current challenging economic environment. Analysts at United Capital Plc, said they were not surprised considering the realities of the COVID-19 pandemic, which has disrupted economic activities globally. “We observed an increase in impairment charges recorded across most banks. Notably, Stanbic IBTC recorded an

impairment loss in Q1-2020b as opposed to a write-back in the previous year. Access Bank also recorded a 154.3 per cent increase in impairment loss while UBA recorded a 54.1 per cent increase in impairment loss and GTBank recorded an 87.8 per cent growth in impairment loss. “The spike in impairment losses is unsurprising considering the realities of the COVID-19 pandemic, which has disrupted economic activities globally. Specifically, companies in the oil and gas sector have had tough months given the current state of the global oil market,� they said. They explained that operators in the aviation, hospitality, transport among others, are not left out from the economic hardship, saying that these developments started materialising around February and would impact the ability of these businesses to fulfill their loan obligations. “Accordingly, in line with the guideline prescribed by IFRS 9, which introduces a forward-looking “expected loss� impairment standard that requires banks to provide more timely recognition of expected credit losses (ECL), based on

future expectations, in place of the “incurred loss� model. As such, what is happening is that banks are taking impairment losses as a reflection of a weaker macroeconomic realities in 2020 as we know it,� they stated. Senior Equity Research Analyst at Cordros Securities, Mr. Mustapha Wahab, said the impairment charges were getting higher because the loan portfolio of most banks was tilted towards the oil and gas sector. “The rising impairment charges are largely because of the loan portfolio of most Tier-1 banks are heavily weighted to the oil and gas sector and given the rapid pace of the descent in crude oil prices over the last month, it is not surprising that banks raised their provisioning across the sector, given increasing risk of defaults,� Wahab said. In his comments, Head of Equity Research, FBNQuest, Mr. Tunde Abidoye, said apart from the above factors, the Central Bank of Nigeria(CBN)’s policy of loan-to-deposit ratio (LDR) made many banks to increase their loans to customers, noting that as the economy witnesses challenges, there would be an increase in impairment charges.

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PAGE TEN FG TARGETS OCTOBER DEADLINE FOR ORONSAYE REPORT IMPLEMENTATION outright scrapping of about 102 of such organisations. In a reaction to the green light given by the finance minister to implement the report, the Nigeria Employers’ Consultative Association (NECA) commended the federal government’s move, with Director-General of NECA, Dr. Timothy Olawale, calling it a “bold step.� The decision to implement the report, THISDAY gathered, is part of the cost-saving measures being adopted by the federal government by slashing spending to cushion the effects of the COVID-19 pandemic on the economy. Oronsaye, who was Head of Service (HOS) during the Jonathan administration, had chaired the committee set up 2011, which in 2012 submitted its report. Following its submission, a “White Paper on the Report of the Presidential Committee on Restructuring and Rationalisation of Federal Government Parastatals, Commissions and Agencies� was submitted to the administration in 2014. However, with the 2015 elections looming at the time of the White Paper’s submission, the recommendations of the committee were never implemented and were confined to gather dust in the presidency. Since President Muhammadu Buhari assumed office in 2015, there has been a clamour for his administration to implement the report. This was premised on Buhari’s election promise to run a lean government and eliminate wastages in government. Nevertheless, for the federal government to effectively implement the policy, the legislature will need to amend or repeal some of the laws establishing some of the parastatals that have either been recommended for consolidation with other like agencies or outright abolition. More so, some specific observations made by officials of the Jonathan administration on each of the recommendations in the White Paper may influence the implementation of the policy by the Buhari administration. Precisely, the then government in the White Paper rejected,

noted or accepted the recommendations. Speaking in a recent interview, Ahmed revealed that the president had approved the implementation of the report. The minister said, “The Oronsaye report is a report that has reviewed the whole size of government and has made significant recommendations in terms of trimming and that is reducing the numbers of agencies and that would mean merging some agencies together. “This is a report that has been in place for a long time but hasn’t been implemented. But the president has approved that it should be implemented and we have conveyed Mr. President’s approval to the arms of government responsible for this, and that will be the Office of Secretary to the Government of the Federation and the Office of the Head of Service.� Providing further insight, the presidency source who pleaded anonymity, stressed that the federal government had outlined a plan to ensure that the process for implementation of the report is finalised by October. He said the government was focused on ensuring that the outcome is reflected in the overhead costs of the affected ministries, departments, and agencies (MDAs) in the 2021 fiscal plan. The source explained, “The plan is to conclude it and the overheads to be reflected in the 2021 fiscal plan. The minister wants it concluded by October latest. “We have some new agencies that have been established since 2014. We also need to take a second look at them and decide what to do. But really, the bulk of the job has been done in that Oronsaye report and so we would be pushing for its implementation.� He stated that part of the plan was to merge the Federal Radio Corporation of Nigeria (FRCN), News Agency of Nigeria (NAN), Voice of Nigeria (VON), and Nigerian Television Authority (NTA) into a single entity to be called “the National Media and Broadcast Commission, with Executive Directors heading each of them.� He added: “As we all know,

the total funding government makes available to these agencies as single entities run into billions and half of that are mismanaged.� But the government White Paper rejected the recommendation for the merger of the media organisations. Another presidency source also expressed hope that the Offices of Secretary to the Government of the Federation and Head of Service would expedite action on the report’s implementation. “The SGF and HOS will have to move quickly on this to reduce the cost of governance at a time like this when revenue shortfall is growing by the minute,� the source stated, adding, “They have to act quickly on the directive, otherwise, there won’t be much progress.� The Oronsaye report had made far-reaching recommendations that were expected to abolish 38 agencies, consolidate 52 agencies, reverse 14 agencies to departments in the relevant ministries, and discontinue government funding of professional bodies/ councils. The policy was to, among others, help to avoid duplication in governance structures, ensure effective implementation of decisions, help the federal government to save cost across all sectors, derive valuable contributions from board members, restrict membership of boards of parastatals to a moderate size of seven – except where a framework had been predetermined – and base appointment of members on competency and proven integrity. Part of the recommendations in the White Paper was that the Federal Character Commission should be abolished and the constitution should be amended to reflect the abolition. But this recommendation was rejected by the Jonathan administration and it had directed instead that the Federal Character Commission should be strengthened to perform its constitutional roles and functions. The report also recommended that the Fiscal Responsibility Commission (FRC) should be abolished, as the Revenue Mobilisation, Allocation and

Fiscal Commission (RMAFC) was already empowered by the constitution to carry out its functions. This recommendation was accepted and the government in the White Paper directed that the Attorney General of the Federation and Minister of Justice should initiate the abolition of the FRC. The committee also recommended that the Economic and Financial Crimes Commission, the Independent Corrupt Practices Commission (ICPC), and the Code of Conduct Bureau should be consolidated into a single agency, which was rejected by the federal government. In addition, the committee recommended that the Infrastructure Concessionary and Regulatory Commission (ICRC) should be subsumed in the Bureau of Public Enterprises (BPE), but the recommendation was rejected by the government. Also, the committee had recommended that the Nigerian Atomic Energy Commission (NAEC) should be “properly located as a parastatal in the Ministry of Power, considering the immense need for the advancement of atomic energy in the country,� which the government also rejected. The Oronsaye report further recommended that the Nigerian Investment Promotion Commission (NIPC), currently domiciled in the presidency, should be relocated to the Ministry of Trade and Investment and merged with the Nigerian Export Promotion Council (NEPC) to synergise for management and utilisation of resources. The federal government in the White Paper noted the recommendation. Under the Ministry of Foreign Affairs, the report recommended that the Nigerian Institute of International Affairs (NIIA) should take over the functions of the Institute for Peace and Conflict Resolution, while the law establishing the Institute for Peace and Conflict Resolution should be repealed. The government noted both recommendations in the Ministry of Foreign Affairs. Also, it stated that the Directorate of Technical Cooperation in Africa (DTCA) should be abolished and its functions, along with those

of the Technical Aids Corps, transferred to an appropriate department in the ministry. This recommendation was accepted by the government. For the Ministry of Health, part of the committee’s recommendations was that all the Federal Medical Centres should no longer be administered by governing boards, as the centres do not have enabling laws. It said each Federal Medical Centre should be administered through a strengthened, competent, professionalised management team, which will take over the responsibilities of the governing board. The recommendation was noted by the government. Furthermore, it recommended the abolition of the Public Complaints Commission as well as the scrapping of the National Salaries, Incomes and Wages Commission (NSIWC) and the transfer of its functions to the RMAFC. Both recommendations were also rejected by the government at the time. The report recommended that the National Bureau of Statistics, Centre for Management Development, and Nigerian Institute of Social and Economic Research should be harmonised and there should be coordination of all data collection agencies for national development. This recommendation was noted by the government in the White Paper. The committee recommended that the National Poverty Eradication Programme (NAPEP) should be scrapped and its functions transferred to a new body that would emerge from the consolidation of the NDE and SMEDAN. In its comment, the government stated that it accepted the recommendation to scrap NAPEP only, but rejected the idea of merging NDE and SMEDAN. It stated that the Utilities Charges Commission (UCC) should be abolished and its enabling law repealed, while its staff should be deployed to the Office of Head of the Civil Service of the Federation; and that the National Economic Intelligence Committee should be scrapped. This recommendation was welcomed by the government.

reasons to say that the mass death recorded in Kano is associated with coronavirus.� He listed them as the age of the deceased persons, the concentration of the people in one place and “test we have constructed which have an element of COVID-19.�

Meanwhile, the NCDC has endorsed the use of Remdesivir for the treatment of COVID-19 patients, saying that the result of the clinical trial has revealed that it is of immense benefits. Ihekweazu, while featuring yesterday on a programme on Channels Television, said the result of the clinical trial of the drug had shown that it was effective in treating COVID-19 patients. The experimental drug was

at the weekend authorised by the United States regulators for emergency use against COVID-19. The agency also explained that Nigeria could not adopt the method of testing used in Ghana as there was a price to pay for testing at top speed. Giving details on the use of Remdesivir, Ihekweazu said it held hope for the treatment of the virus, stressing that he was

Solidarity Association, Chief Timothy Adesiyan, commended the improvement particularly in interest income, non-performing loans (NPLs), liquidity ratio, and profit after tax and gross earnings. While lauding the bank for its digitalisation programme, he expressed optimism that the bank would be positioned to take advantage of new and emergent opportunities based on its comprehensive upgrade of its technology architecture. Meanwhile, Fidelity Bank has begun the 2020 financial year on a positive note with

the announcement of its unaudited results for the three months ended March 31, 2020. Gross earnings for the first quarter of the year grew by 5.7 per cent to N51.2 billion from N48.4 billion in the previous year, while profit before tax (PBT) stood at N6.6 billion, representing a marginal drop from the N6.7 billion recorded in the first quarter of 2019. Shareholders’ funds also grew by 3.6 per cent from N234 billion in 2019, to N242 billion in the first quarter of 2020.

NECA Commends Move The NECA director-general applauded the government’s decision to implement the report, saying, “It is indeed commendable that President Muhammadu Buhari has taken the bold step of approving the implementation of the Oronsaye report, about eight years after its submission to the last administration. “Over the past years, we have reiterated that the implementation of the report is fundamental to the institutionalisation of operational efficiency and reduction of government expenditure in the long term. It is worrisome that with over 250 institutions, parastatals and agencies of government, the average cost of governance in Nigeria remains among the highest globally.� Olawale advised that the report should not suffer the fate of the Ahmed Joda Panel Report and the Allison Ayida Report of 1995, which also made bold recommendations on the rationalisation of government agencies and parastatals but suffered a fatal fate due to lack of political will on the part of the government. He stated, “All efforts must be made to see to a logical conclusion in the implementation of the Oronsaye report as directed by the president. The recent global economic downturn has proved that the country cannot afford the burden of wasted billions of naira and over-lapping roles of some of the ministries, departments and agencies that in reality hinder the ease of doing business.� Olawale also advised the federal government to go beyond the implementation of the Oronsaye report to deliberately reduce other leakages, including those arising from too many aides of political office holders, which make no contribution to national development. He called on the government to fast track the deregulation of the downstream oil sector, and pursue more vigorously the diversification of the economy, saying, “Herein lies our path to national economic and social renaissance.�

PRESIDENTIAL TASK FORCE LINKS KANO DEATHS TO COVID-19 the virus was the cause of the multiple deaths that had ravaged the ancient city since its first index case last month. Although the state Governor, Mr. Abdullahi Ganduje, had denied that the deaths were linked to the pandemic, Gwarzo was emphatic that the virus was the culprit. “Let me inform us that most of the deaths recorded of recent and test carried out

showed that coronavirus was the cause,� the task force head said, adding: “So, before the final report, which would be ready in the next one week or few days, it is necessary for people of Kano to wake up from their slumber that this is a serious issue.� Gwarzo, who spoke to the BBC Hausa Service, and later during the official presentation and handing over of the mobile testing laboratory the Aliko Dangote

Foundation donated to Kano State government, added: “We need to know what is happening, we are successful in identifying what the problems are and secondly we are happy on the level of cooperation between the private sector and other stakeholders. Many people have come out to support the state we cannot expand our investigation until we are certain. “We have five cogent

NCDC Seeks Access to Remdesivir for Treatment of Patients

Continued on page 26

FIDELITY BANK REPORTS N6.6BN Q1 PROFIT, REASSURES STAKEHOLDERS growth trajectory of the bank. These views were also affirmed by Fidelity Bank CEO, Mr. Nnamdi Okonkwo, who said the bank’s greatest strength was its ability to adapt to change. According to him, the bank will explore new prospects that are opening up in the retail market, continue to focus on customer-centricity, innovation and digitalisation while keeping its eye on governance, risk and liquidity. “We place a high premium on risk management and will continue to review our risk

acceptance criteria in reaction to new market realities,� he added. The meeting, which was held by proxy, in compliance with the Corporate Affairs Commission's (CAC) issued guidelines on AGMs within the period, had in attendance very few shareholders, on account of social distancing and restriction of movement in Lagos as a result of COVID-19 preventive and precautionary measures. Others joined remotely via live streaming. The shareholders, who spoke on the occasion, gave kudos

to the board and management for 2019 performance, which saw the bank delivering double-digit growth across key performance indices. Gross earnings grew by 14 per cent to N215.5 billion, driven by a 15.8 per cent growth in interest and similar income. The bank’s profit before tax (PBT) rose by 21 per cent from N25.1 billion in 2018 to N30.4 billion in 2019. The shareholders unanimously endorsed the payment of a cash dividend of 20 kobo per share, which

translated to N5.793 billion for the year ended December 31, 2019. The National Coordinator, Progressive Shareholders Association of Nigeria, Mr. Boniface Okezie, applauded the dividend growth from 11 kobo paid in 2018 to 20 kobo in 2019. “From all the indices, this is a superlative performance. The achievement of over N30 billion in profits is indeed worthy of commendation," Okezie stated. Also, the President of the Nigerian Shareholders’

MONDAY MAY 4, 2020 • T H I S D AY

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T H I S D AY Ëž Ëœ Í˛Ëœ 2020

COMMENT

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

I BEAT THEVIRUS

Israel Ayegba Ebije, a Covid-19 survivor, writes that easing the lockdown is premature

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he class of 2020 refers to those who are alive and well regardless of age, class, race or creed to savor infection and the fear associated with Covid-19, the “apocalypse� virus. The human family has been humbled by the ravaging Coronavirus pandemic as many believe it will destroy the world. I am a grateful student of life who took the coronavirus exam and lived to tell the story. The experience of going through with the shallow stinging coughing sessions, the loss of smell, stuffed and painful lungs, difficulty in breathing, loss of appetite, fever, evil dreams and news of deaths across the globe will make 2020 a year I will not forget in a hurry. For those clamoring for ease of lockdown, are you prepared for the consequence of badly managed lockdown? Do you want to have the virus to confirm how deadly it is? The human family now live in fear as the dreaded pandemic has no cure, with geometric death rates. To survive the menace of the virus, you must have the Grace of God, and a good immune system. The best alternative therefore, is to distance yourself socially from other humans. Sadly, Nigerians and indeed Africans think social distancing or lockdowns are a way the government wants to oppress them or deny them of their fundamental rights to associate or do business. Granted that so many Nigerians live by the day - meaning, they must feed from their daily jobs, or sales they make on daily basis, granted that the Nigerian system is run without unified data requisite for patriotic distribution of palliatives does not obliterate the fact that caution must be applied when lockdown is eased. Yes Nigerians have suffered in terms of hunger during the lockdown. Yes many have died silently as a result of hunger garnished with stress but the death toll will go geometrical if Nigerians throw caution to the wind. Nigerians need financial intervention not ease of lockdown. Let me go back briefly to my very unpleasant experience with Covid19 virus. I woke up one morning feeling pangs of pain in my stomach. I recognized the discomfort as ulcer. Having suffered several years from the condition, I always have drugs for first aid. I tried everything I could and the drugs were not able to give me relief. I met a pharmacist who prescribed Omeprazole for me. It was the best he could offer. The symptom grew from bad to worse. I wondered what was really wrong with me. I ran back to the same pharmacist to step up with the prescription. He refused and instead asked me to go see a doctor. He told me my intestine may have burst, adding that I could die anytime soon. To cut to the chase, I was diagnosed of coronavirus when I got to the hospital in Montreal, Canada. The news was handed to me like a death sentence. Within seconds I remembered how I refused to wear a face mask, how I refused social distancing, how I believed the virus will have nothing to do with a Blackman like me. Suddenly, my entire life flashed before my eyes. I was busy with the “ulcer� pain, I did not notice I was wheezing, having a painful cough with loaded and infected lungs. I was placed on azithromycin for the lung infection for five days. I however found a way to steam with garlic, ginger and lime four times daily (10

WE MUST BE GUIDED THAT PEOPLE CELEBRATED EASE OF LOCKDOWN OF THE SPANISH FLU AND OVER 4500 INFECTIONS WERE RECORDED WITHIN 72 HOURS IN A SMALL GEOGRAPHICAL AREA

minutes per session). I got enough relief after five days in isolation. The nagging fever disappeared, my nasal function got better, at least everything from food to toiletries smelled the same. My very bitter tongue was able to distinguish taste of food. The healing process was in phases and slow - it took 14 days before I could bounce back. Now I am as healthy as a bull, free of the virus. Sadly, not many are as lucky as I am. Let me keep my survival story aside and focus on the future of Nigerians as many are eager to get out there and look for money. I know the government did not offer financial safety net to cushion the negative effect of the lockdown, that’s not enough reason to hit the streets carelessly as cases are on the rise every day. Remember that I was once in doubt of the virus. I was once careless, thinking I was a Black dude who was impervious to the virus. It slammed me and I hit rock bottom within a few days. Government will save more lives and money if they can get financial assistance across to Nigerians instead of letting them go out to die! If government has however concluded plans not to help its citizens at this breaking point with feeding money, they should at least embark on sensitization using mobile public address systems to draw the attention of Nigerians on safety rules, provide PPEs like face masks, hand gloves and hand sanitizers as they prepare to hit the street. This is the time for the public and private media to engage in sustained sensitization programs. The world is at war with an invisible enemy. Average Nigerians on their part must see the ease of the lockdown from a sober perspective. They should apply caution just the way they would if they were to walk past a sleeping hungry lion. It does not call for celebration - some wicked people are going to make sure they infect the careless ones on the street. We must be guided that people celebrated ease of lockdown of the Spanish flu and over 4500 infections were recorded within 72 hours in a small geographical area. Already Ghana Covid-19 infection rate has risen by 60 percent a week after government eased their lockdown. I commend federal, state governments and our frontline health workers in managing victims of the dreaded virus. It is however pertinent to note that only about 12,000 out of over 200 million Nigerians have been tested in four weeks and a constantly rising case of infected people against a projected 21,000 in four weeks. Releasing people to the street is a potential disaster waiting to happen. The level of sensitization, literacy and capacity to manage a ravaging pandemic will be too much of a job once this blows out of proportion. Government should give out palliatives using BVN instead of going the temporary cheap route of easing lockdown for Nigerians to fend for themselves. Also getting Nigerian traditional medicine practitioners to go to work on finding a cure or linking up with Madagascar on their herbal remedy for Covid-19 is better than nothing. The consequence of playing politics with Covid-19 will hit the rich and the poor negatively. I survived, many have died, do you want to die? Ebije can be reached via, ebijeo5@gmail.com

MAKING THE FIGHT AGAINST COVID-19 TOTAL

To ensure that the war on the pandemic is successful, there is an urgent need to increase awareness in the rural areas, writes Adewale Kupoluyi

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ince the outbreak of the coronavirus disease (COVID-19) worldwide, a series of efforts have been made to educate, inform, and sensitise everyone on nature, preventive, and developments as they unfold. The use of traditional and social media has been useful in the last few weeks in taming the novel virus that has struck mankind like the thunder. The pandemic has caught everybody and health institutions unaware to the extent that nobody can give specific assurance or antidote on how to curtail the virus, whose real origin is controversial. COVID-19 remains a nightmare that respects no race, tribe, religion, status, gender, or age. The severity of the problem at hand continues to drive the respective governments, international and local health institutions to update all on the dos and don’ts on the pandemic. There is the likelihood for the elites to think that there is an information overload in the social, print, and electronic media. The contrary appears to be the case regarding the people living in villages and rural communities. There is hardly anything they enjoy from the state in terms of social security and basic amenities. They are usually on their own. No regular electricity supply, bad roads everywhere, no potable water, and poor healthcare. For them to charge their mobile phones, they would have to congregate at a local shop and pay. The cable channel is completely unaffordable and sheer luxury for them while access to newspapers, electronic and social media is also a mirage. According to the United States of America’s Human Rights Watch, Nigeria’s informal sector include more than 80 percent of a wide range of occupations from street traders, taxi drivers, farmers,

tradesmen, artisans, food vendors, barbers, and hairdressers. To ascertain the level of awareness of the rural populace on COVID-19, an interview was conducted through the telephone on some respondents that were randomly selected in some states across the geo-political zones of Nigeria. The respondents comprise uneducated persons living in cities, villages, and rural communities. Findings showed that almost all the respondents gave similar responses suggesting that they were ill-informed on the pandemic. For instance, they do not know the correct name of the disease. Various names were given such as ‘corovirus’, ‘corolla virus’, ‘coroba vilus’, and ‘cofid virus’, among others. The implication of this is that they are either completely ignorant or have a faint idea of the deadly disease. The respondents ascribed the disease to only the rich and affluent in society. They held the belief that the sin of man was responsible for the pandemic and were also of the opinion that they can never be afflicted by the virus because they are poor. The consequence of the wrong perception among our rural dwellers and uneducated citizenry makes them continue to live their normal lives as if nothing worrisome is happening by violating social distancing, maintaining low personal hygiene, and failing to disclose strange health conditions to relevant authorities. They are also angry and showing apathy that relief items and palliatives distributed mainly in the towns and cities are not sent to them due to their perceived discrimination and corruption in the management of the commodities. With this kind of mindset and disposition by a critical segment of the Nigerian populace, there is an urgent need to re-strategise how to reach out to these people

immediately, educate them appropriately, and cater for their needs. Failure to do so could cause monumental disasters and rubbish the success story recorded by the Nigeria Centre for Disease Control (NCDC), Federal Ministry of Health, Presidential Task Force on COVID-19, and other stakeholders across the country. This reach-out call became imperative considering the current community infection stage of the coronavirus in the nation because if the rural communities are not well protected, there is likely to be an explosion and more casualties, as most of the villagers are ill-informed and have no access to good medical facilities. This makes the rural dwellers and community-based residents vulnerable to the virus. Ordinarily, information easily gets to the grassroots through churches, mosques, market/trader groups, and residents associations. Unfortunately, the lockdown directives in the states have made it almost impossible for the people to congregate and obtain life-saving updates at this period. This vacuum and communication gap has been largely responsible for why a lot of people are ill-informed about the viral disease in the country. To ensure that the war on the pandemic is successful, there is an urgent need to focus on implementing programmes that can increase awareness among the villagers. These would entail meeting with the traditional rulers to deploy the use of town criers and street-to-street campaigns using the mobile public address system without staying together in a place. Those communicating the message should be adequately equipped with key information, be fluent in local/native languages, and familiar with the culture of the people. In carrying out this task, there should be room for feedback on how

the communication channel can be opened and sustained with the possibility of groundbreaking and the discovery of an effective local treatment for coronavirus disease in Nigeria. This time around, consumables, protective kits, sanitisers, and hand-washing facilities should be provided for the rural people free of charge. It is rather unfortunate that the National Orientation Agency (NOA) appears not active enough in enlightening the rural populace on COVID-19. It should be appreciated that about 70 percent of Nigeria’s population lives in rural areas and are responsible for about 75 per cent of the country’s food production. During this pandemic when there is hunger in the land, we should be concerned about the need for farmers to safely plant and harvest in the rainy season to ensure adequate food supply and transportation from rural production areas to industrial processing zones and consumption locations. This is a clarion call on individuals and corporate donors to accord priority to the local communities by directly touching their lives. Family heads should ensure that health disseminated permeates their entire household. With the support of the local councils, it is not too late to make a redress by reaching out to the rural dwellers, villagers, and uneducated fellow citizens living in slums and rural cities on the importance of constant hand washing, physical distancing, wearing of face masks in public, avoidance of non-essential movement, avoidance of large gatherings and getting tested. The fight against COVID-19 should not be one-sided; it should be all-embracing, comprehensive, and total. Kupoluyi wrote from Federal University of Agriculture, Abeokuta

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T H I S D AY ˾ MONDAY, MAY 4, 2020

EDITORIAL LUTH MEDICAL FEAT AND ART ETHICS Fertility clinics should be strictly regulated

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n 18th April, the Lagos University Teaching Hospital (LUTH), Idi-Araba announced a successful delivery of a set of twins following an Assisted Reproductive Technology (ART). The mother is a 68 years old woman who had undergone fertility treatment in another hospital which enabled the pregnancy. Although the feat by LUTH drew wide commendation from several people and organisations, especially since it was the first time a Nigerian and African hospital would successfully nurse a woman of such age to delivery with the twin babies in good health, there are contending issues. In particular, the pregnancy has raised serious ethical concerns among health experts. We are delighted that the woman and her babies are well, but she walked a thin line between life and death for that to happen. If the pregnancy had gone wrong, she would have been among the eighth in every 10 women of her age who unfortunately were unable to complete the rigour of the reproductive process without damage to THE HEALTH OF COUPLES themselves or/and SEEKING FERTILITY their child. This is the SHOULD BE A PRIORITY risk that dissuades BEFORE ANY OTHER fertility centres from accepting IVF adCONSIDERATIONS vances from women above 58 years. That explains why the Association for Fertility and Reproductive Health (AFRH) was quick to call into question the ethical decision of the IVF centre which facilitated the pregnancy process for the 68-year-old woman. A statement by AFRH President, Dr. Wada Ibrahim said offering ART treatment for women over the age of 54 years violates its well-publicised practice guidelines. It added: “The key issues are: the risk that pregnancies pose to the health and well-being of women aged above 54 years; and the well-being of the children born to women over the age of 54 years, especially in terms of nurturing the children to adulthood. The AFRH

has painstakingly put together a set of self-regulation rules aimed at ensuring good clinical, laboratory and ethical practice of ART in Nigeria. The Lagos State Government has accepted these Practice Guidelines and has gone on to set up an ART Monitoring Committee consisting of both Health Facility Monitoring and Accreditation Agency (HEFAMAA) officials and AFRH representatives.”

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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

ccording to the World Health Organisation (WHO) guidelines, pregnancies above recommended age are prone to gestational diabetes, low or high birth weight, hypertension, abortion, possibility of the placenta partially or fully blocking the neck of the uterus, high possibility of caesarian delivery, as well as increased bleeding for the woman after delivery. In some other cases, it leads to the death of the mother or/and baby. Another ethical concern is on the side of the children. Apart from the possibility of the woman not being able to provide active care required of a mother at an advanced age, a research done by the University of Alberta in Canada shows that children born to older mothers may have more heart risks later in life, especially for male babies. Despite these obvious risks associated with the practice, some fertility clinics in Nigeria are more interested in the income the reproductive technology will bring into their pockets as against advising older women of alternatives available to them which include adoption or surrogacy, among others. There is possibility the successful delivery by the 68-year-old woman was known because everything went well. What happens to so many other women who may have lost their lives or had life-threatening complications because their fertility doctors insisted on providing assisted pregnancies for them even when their ages pose health challenge? It is therefore time such fertility hospitals were strictly regulated so they do not put mothers and babies into preventable health risks. The health of couples seeking fertility should be a priority before any other considerations.

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The Pandemic And The Country’s Future

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s we strive to “balance the need to protect health while also preserving livelihoods”, can we safely say that the worst of the pandemic that has unleashed more than 2,388 cases and over-80 deaths on the country is over? If we take a chance when the pandemic is still ravaging our land, how safe are we? If we are not safe, where then lies the sunshine in dark times? With porous borders and a compromised security system littering Nigeria’s geopolitical landscape, how far can the closure of interstate borders go in repurposing our lives towards the sought-after reprieve? What type of sustainable national strategy and national framework are being put in place for the economy to bounce back, especially, after lots of pains for the people? What type of conversations are our leaders having- even, with those working at their pleasure - on decisions with life and death consequences? Are there modalities in place to cushion the effects of job losses and unpaid salaries as a result of COVID-19? The world is ghastly, dangerously sick. Nobody can deny that! Coronavirus is threatening her very foundation even as Nigerians are confused as to who among our fathers have sinned that we are now bearing the consequences of their iniquities. But, instead of just following the rabble, we must admit that the lockdown has offered us an opportunity to interrogate the fundamental platform of our predicament. Basically, instituted social lockdown is a time of slowing down, which in turn provides a unique opportunity for the critical assessment of social systems and a dispassionate self-appraisal of extant public institutions. By common consent,

individual families should be able to look at the family and debate what they can do better immediately this lockdown is done with. It should give us an opportunity to sit down and critically reason with people who can think to fashion a way forward for dear country. In other words, every sector of Nigeria’s socioeconomiccum-political sphere should not go back to the old normal. Instead, it should saddle us with a new normal; a new world that is durable, more enduring and able to withstand whatever adversity that may befall the country in the next foreseeable future. We cannot afford to miss out on this golden opportunity of an induced leap from the known to the unknown within the spectrum of available alternative models of development! That we are where we are finds space in lack of preparedness on the part of the government, as well as lack of vision for leadership. Instead of facing the reality, we are just perambulating! The same problem that was identified before the civil war in Nigeria is still here with us today, decades after the war. Nothing has changed! Year in, year out, the same set of people are contesting and winning elections. Eventually, our elected representatives are cocooned in monstrous buildings as official or personal quarters, with state-of-the-art cars, each costing Nigerian taxpayers’ tens of millions of naira, to boot. Before long, they will start displaying wealth in manners not too far from showing to the world how foolish the people have been for electing them. Then, what hope is left for the common man? Nothing! They flaunt the wealth. They flaunt the power. They flaunt the affluence, while the common man just keeps looking, mesmerized and blaming the gods for his

predicament! Nigeria can be likened to a poor man who sees himself as a proud owner of a horse in a dream. Unarguably, he is bound to realize the folly of dreams immediately he wakes up. There and then, he will close his eyes without wanting to wake up again! Take for instance a governor, who, instead of making robust preparations for a looming disaster, was busy running after Sanusi Lamido Sanusi as if deposing the 14th Emir of Kano was the tonic Ibrahim Ganduje needed to earn respect. Elsewhere in Oyo, Governor Seyi Makinde is so content with ‘tales-by-moonlight’ politics that he has forgotten that one infected person is what a slipshod ‘Pacesetter’ state needs to spoil the show for an infection-free, ‘Land of Virtue’ Osun; even trouble the Israel of the country! Truth be told: Nigeria is in trouble, whether the government admits it or not! Federal government’s efforts at raising palpable denial, or, deliberately feigning ignorance of the subject matter notwithstanding, trouble is trouble; and it is financial! Close to 100 years after Nigeria has been mouthing development plans, nothing really has developed. What type of country is it that continues to run, de columnis autem post, unsure of where to source succour? With no foreign currency coming from anywhere, how do we now survive? In saner climes, somebody ought to have come up with a proposal to solve the puzzle long before now! His grave shortcomings apart, Adolf Hitler did it for Germany and the country is better for it today. Incidentally, COVID-19 is here with us and an essential part of its assignment is to teach us to think. Abiodun Komolafe, Ijebu-Jesa, Osun State

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T H I S D AY ˾ MONDAY MAY 4, 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

Bent Over by a Burden of Debts Nseobong Okon-Ekong and Udora Orizu write that harder times await the average Nigerian with the recent accelerated approval by the Senate of N850 billion loan request by President Muhammadu Buhari and other loans from the World Bank, the IMF, AfDB and the Islamic Development Bank

Buhari

Lawan

Zainab Ahmed

Basiru

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15

T H I S D AY ˾ MONDAY MAY 4, 2020

MONDAY DISCOURSE

Benson

Kalu

Nwawuba

Ologbondiyan

seek the Senate’s approval to raise the N850 billion of new external borrowing in Naira from the domestic capital market instead of from the international capital market. “However, it remains our intention to access the international capital market when conditions improve to refinance this N850 billion of new borrowing and epitomize the benefits inherent in external borrowing. Presently, the conditions in the domestic capital market are favourable in terms of availability of funds and relatively low interest rates. This cause of action is deemed prudent given our current realities.” The President noted that he has directed the Minister of Finance, Budget and National Planning to make herself available to provide any additional information or clarification which the lawmakers may require. As concerns were raised by the citizenry on the need for the loan, some federal lawmakers voiced their views to THISDAY, clarifying the loan approval by the Senate. The Chairman of the Senate Committee on Media and Public Affairs, Senator Ajibola Basiru, told THISDAY that no fresh N850 billion loan was approved by the Senate last Tuesday for the executive. According to him, the resolution passed by the Senate was an amendment to the earlier resolution as to the source of the initial N850 billion loan that had been approved to be part of what should be used to fund the 2020 Appropriation Act. He said, “You will recall that the Senate had actually approved the loan of N850 billion but to be sourced from external sources. However, because of the COVID-19 pandemic and of the challenge in the international oil market with the attendant challenges of raising the approved loan externally, the President requested that the approved loan should rather be raised through the domestic capital market. It was the above request on the sourcing of the earlier approved external borrowing of N850 billion from domestic capital market that was approved by the Senate.” In the Green Chamber, the Chairman, House Committee on Defence, Hon. Babajimi Benson, (APC, Lagos), said the loan is desirous and necessary to sustain the implementation of the 2020 budget and will enable government to adequately finance projects contained in the budget. He further said the loan will help to sustain the current efforts in fighting the coronavirus pandemics and ensure the crisis does not degenerate and cause more devastating problems for the government and its people. On the concern that the N850bn borrowing programme will drive up interest rates, he said it is pertinent to note that, while this was likely, it will not be much. He noted, “The maximum increase may be about 3% and this is because there are maturities from Open Market Operations (OMO) that are far more than the N850bn and these maturities will be seeking for outlets to invest. The FG borrowing programme will meet such demand. The funds will be used to finance critical projects and programmes in the 2020 budget. These projects, if they are largely capital projects, will help to boost the economy and put it back on the recovery track after the COVID-19 pandemic. As you are aware, financing is key to any project and programme implementation and this is what the government aims to achieve with the loan. Funds targeted at critical projects including in the health sector will strengthen the health

sector to address the outbreak and prepare it for future health challenges.” “Though borrowing from the international market is usually seen as attractive, the COVID-19 pandemic and falling oil prices has reversed this attraction. Therefore, the N850bn loan will be sourced domestically from the local capital market. This is a win-win situation for both the government and the financial institutions. While the government will benefit from the prevailing favourable conditions in the domestic capital market in terms of availability of funds and relatively low interest rates, the domestic financial institutions will be further strengthened as they will be able to shore up their capital strength. It is a case of making the money remain within the domestic economy.” “It is important to note that the N850bn loan is not a new borrowing. It is only a conversion of external to domestic borrowing. It is an amendment of the source of borrowing from external to domestic. Also, it does not alter the total domestic borrowing under the 2020 Appropriation Act which is about N1.595 trillion.” “There is also no fear for the private sector being unable to access bank facilities. In the first place, commercial financial institutions in Nigeria have over N7trillion in savings with the CBN. Moreover, in addition to banks, most institutions that will invest in the borrowing programme will be Pension Funds, Local Institutional Investors, Asset Management Companies, etc. Most importantly, borrowing from domestic financial institutions will allow private investors to leverage on the opportunities provided by other FG interventions like the BOI, N50b CBN facility and others.” “Having outlined the benefits of the loan facility, it is important to mention that the National Assembly, and particularly the House of Representatives will strengthen its oversight of the entire process and eventual disbursement and implementation of projects under it. Furthermore, the House will transparently work with relevant CSOs and other stakeholders to ensure that details of the loan facility are in the public domain.” Another lawmaker, Hon. Henry Nwawuba (PDP, Imo) said there is actually nothing wrong with borrowing but not arbitrarily. He noted that the 2020 budget was passed with an agreed component for borrowing to fund it even before the global economies plummeted. He however called for equity, fairness,

transparency and even distribution of capital projects, this he said is to ensure the executive will leave no political zone shortchanged as was seen in the recent attempt to borrow $23 billion dollars, and also the lopsided implementation of the Federal Governments Social Intervention Programme. “The House of Representatives is yet to consider the request from the executive but we know from the crash of the price of crude that the 2020 budget is endangered. The price has crashed even below the downward review of the oil benchmark to $30 per barrel by the National Assembly. We are left with basically two options as a country. To run through 2020 without any capital implementation or fund through borrowings.” “We also need to urgently begin to consider and implement strategies for a sustainable post-COVID 19 economy. Scientists believe that this pandemic will likely stick around until a proven vaccine is gotten. We cannot therefore continue with a business as usual mentality. We must prepare for a marathon and not a 100 meters sprint. What I will like to see is a line-by-line scrutiny of the details attached to this borrowing. Without seeing and knowing what the details are any opinion is like winking in the dark; pointless,” Nwawuba said On his part, Hon. Benjamin Okezie Kalu (APC, Abia) said the N850 billion loan is not a fresh loan and was already envisaged and provided for in the 2020 Appropriation Act. He explained that the only new thing regarding the borrowing is that the President considers it more prudent to borrow that amount from the domestic capital market as against borrowing same from the international capital market. According to Kalu, “Would I call that a fresh loan? I am really not settled with that. What is new is that Mr. President considers it more prudent to borrow that amount from the domestic capital market as against borrowing same from the international capital market, as of this time and considering the impact and effect of covid-19 on the international capital market.” “The Senate may wish to recall that the 2020 Appropriation Act provided for N1,594,986,700,544 of new domestic borrowing and N850 billion of new external borrowing. These borrowings were to part finance the 2020 budget deficit of N2,175,197,885,232 only.” “Take a look at the 2020 budget deficit and the proposal to finance the deficit with new domestic borrowing and new external borrow-

ing. Mr. President’s request is simply saying that it will be more expensive to borrow from the international market at this time. He intends to borrow from the domestic market and possibly from the international market to refinance the loan, when the situation improves.” But this is not the only cause of concern to Nigerians. Last Tuesday, the Executive Board of the IMF approved Nigeria’s request for emergency financial assistance of US$ 3.4 billion (N1.224 trillion) under the Rapid Financing Instrument (RFI) to cover financial emergencies created by the COVID-19 pandemic. In order to get this particular loan, the Nigerian government made a prior promise to implement certain policies as a guarantee that it the loan will be paid in full in 2025, less than five years away. According to Ahmed, other loans to which Nigeria is committed are $2.5 billion from World Bank and $1 billion from AfDB. However, she kept mum on monies obtained from Islamic Development Bank and other multilateral financial agencies. To convince the IMF, Ahmed announced a 10-point parameter through which the government hopes to pursue and realize policies consistent with macroeconomic stability and good governance. These include a fiscal policy that will ensure increase of revenue to 15 percent of the GDP through further VAT reforms, rise in excises, and removal of tax exemptions— once the crisis passes. Implementation of an automatic fuel price formula will ensure fuel subsidies, which have been eliminated, do not reemerge. Another critical area is the power sector reforms, where government is seeking technical assistance and financial support from the World Bank—including through capping electricity tariff shortfalls this year to N380 billion and moving to full cost-reflective tariffs in 2021. Voicing its concern for the immediate and long-term effect of these loans on Nigerians, the major opposition political party, the Peoples Democratic Party (PDP), said through its National Publicity Secretary, Kola Ologbodiyan, that Nigerians were alarmed at the Buhari administration over dependence on loans, noting that the practice was wrecking the economy while amassing huge problems for the future generation, apparently resonating the Bible that, “The rich rules over the poor, and the borrower is the slave of the lender.” According to Ologbodiyan, “It is even more worrisome that the loans are not transparently managed as most of them are being trailed by allegations of mismanagement and embezzlement. The PDP holds that instead of constantly resorting to borrowing, the Federal Government should articulate innovative ways to create wealth and plug wastes. What is expected at a time like this is for the Buhari Presidency to immediately cut on luxury, slash the number of Presidential appointees, cut down huge allowances that gulp billions of naira and maintain a lean budget that will center on health, research and growth of our economy among other critical needs.” The PDP, therefore, charged the Senate presiding officers to note that in approving this loan, the nation holds them responsible to ensure strict oversight monitoring of the handling of the money. “The Senate must ensure judicious use of the funds as well as prompt repayment. This is because our nation cannot afford any default, as such is capable of crippling the capital market and worsening the economic hardship already being faced by Nigerians.”

As at March 2020, the Senate put the Nigeria’s total debt profile at N33 trillion after its approval of $22.7 billion foreign loan for the Federal Government penultimate week. Figures emerging from the DMO indicate that as of December 2019, the Federal Government’s domestic debt stood at N14.2 trillion, while external debt was $27,676.14 (N10 trillion). DMO said in addition that between January and December 2019, the Federal Government paid N480.4 billion on servicing external debts

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MONDAY MAY 4, 2020 •T H I S D AY

MONDAY MAY 4, 2020 • T H I S D AY

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T H I S D AY Ëž Í˛Ëœ Í°ÍŽÍ°ÍŽ

FEATURES

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 08038901925

Odili Steps up COVID-19 Fight in Rivers Former Rivers State Governor, Dr. Peter Odili, last week stepped forward to heed the clarion call by the state government with a donation of key equipment to enhance its fight against the COVID-19 pandemic, writes Davidson Iriekpen

Former Rivers State Governor, Dr. Peter Odili (left), and Governor Nyesom Wike during the presentation of Reverse Transcriptase-Polymerase Chain Reaction, Reagents and Busters for RT-PCR COVID-19 Test donated by PAMO Hospitals and Clinics to the Rivers State University Teaching Hospital, Port Harcourt

T

hat the present times are a difficult one for governments across the world, including Nigeria, is no longer news. Developed countries which Nigerians used to look up to for their health challenges are struggling to cope with the ravaging COVID-19 pandemic. With dwindling revenue and poor infrastructure to cope with the spread of the deadly virus in Nigeria, at no time is the clichĂŠ, “government cannot do it aloneâ€? most appropriate than now. This is why individuals and businesses are pitching in to help in little, but important ways to limit the spread of the virus. Even though some individuals and organisations had taken proactive measures to limit the spread of COVID-19 before the country began to witness an increase in confirmed cases and lockdown, more still need to be done because the situation looks bleak. These individuals and organisations are identifying gaps in the healthcare system and anticipating needs. They have offered everything from newly built isolation centres and hospital kits and equipment, to funds, solar power for health centres, and access to a professional courier system that can move items to every part the country. In Rivers State, former Governor Peter Odili last week stepped forward to heed the

clarion call by Governor Nyesom Wike for privileged indigenes of the state contribute to the fight against pandemic by donating a Reverse Transcriptase-Polymerase Chain Reaction, Reagents and Busters for RT-PCR COVID-19 Test, to the state government for use at the Rivers State University Teaching Hospital, Port Harcourt. The former governor announced that the donation of PCR Test Machine and three thousand test kits and reagents by Pamo Clinics and Hospitals is to enhance the fight against coronavirus. He thanked Governor Wike for reviving and equipping the State Teaching Hospital into a world class hospital. He also lauded the governor for the statewide distribution of palliatives, saying that the people of the state appreciate his benevolence. On the fight against COVID-19, Odili said the entire world is at war, saying that the virus has declared war on humanity, while there are no safe havens. He prayed God to protect Wike as he works to protect Rivers people. He said: "It is a new thing that calls for response. And the governor’s response has been proper. The closure of the borders was a step in the right direction." Odili, who is medical doctor by profession,

and has been running a private specialist hospital in the state since the 1980s and recently adding a medical university to it, certainly knows the importance of tests to combating diseases. While receiving the equipment on behalf of the state, Governor Wike urged privileged people of the state to contribute to the fight against COVID-19, adding that the equipment were critical to combat the deadly pandemic in the state. He stressed that this is not a time for endless criticism, but a time for all privileged Rivers people to make their contributions to ensure that the deadly virus is defeated in the state. Wike said: "This is a presentation of PCR, reagents and necessary test kits. This is not a time to criticise. This is not a time to give reasons, but a time to support. This should be a collective effort to curtail the spread of this pandemic." The governor called on all wealthy Rivers indigenes to use their resources to invest in supporting the state, adding that ignoring the less privileged at this period will not be helpful. He also reiterated that it is unfortunate that Rivers State does not have a federal government testing centre despite its economic position in the country. Wike, who was full of praises for Odili, thanked him for always working to promote

the interest of the state, adding that history will always be kind to him for all his contributions and for choosing to partner the government to stem the pandemic. He said: "To protect lives is very important to you. That is what we have done today. You have shown that humanity is important to you. I thank you so much. With what you have done, those Rivers people who have been sleeping in Lagos and Abuja will be encouraged to work for the state." In his remarks, the state Commissioner for Health, Professor Chike Princewill, said with the PCR Machines and the necessary reagents, the state government can complete coronavirus tests in the state. On his part, the Chief Medical Director of Rivers State University Teaching Hospital, Dr. Aaron Friday, urged the state government to sustain the fight to check the spread of the deadly virus, adding that the donations by Odili would go a long in helping the state government combat the virus. No doubt, Odili's donation is a challenge to all privileged Rivers' sons and daughters, especially those in different tiers of government, no matter the political party, the private sector, whether retired and still in service, to support the state government in combating the deadly virus in the state.

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Quick Takes Work-from-Home Survey Launched

HC Bonum, in partnership with Digital Jewels, AT3 Resources and DB Consulting,aconsortiumofleadingconsultantsintheareaofperformance management,ITgovernance,dataanalytics,strategiccommunicationsand human capacity building have joined forces to unveil a Work-from-home survey for Nigerian professionals. The ďŹ rms disclosed this in a statement at the weekend. Thesurvey,theďŹ rstofitskindsincetheCOVID-19pandemicthataltered the way of work, was expected to assist business leaders understand the beneďŹ ts and challenges they face as they adopt and adapt to working from home due to the pandemic. Accordingtothestatement,theimpactofthepandemicraisesconcerns ofsustainabilityinbusiness,healthandwellness,socialinteraction,working remotely, whilst parenting amongst many other factors which are likely going to have a profound eect on the wellbeing, productivity and outlook of all employees. “Against this backdrop all working professionals are invited to participate to enable us make meaningful comparisons and insightful analysis that can guide organisations as they emerge from the current realities,â€? the statement added. According to the Managing Director, HC Bonum, performancemanagementconsultants,LanreOnasanya,“theWFHSurvey is our contribution to the workplace ecosystem, to support leaders in decision making, professionals in adapting to the new world order and the economy in recovering from the eects of Covid-19.â€?

PROMOTING GLOBAL TRADE

Germany’s Federal Minister for Foreign Affairs, H.E. Mr. Heiko Maas (left), with the Director General, World Trade Organisation, Roberto Azevêdo, during a meeting at the WTO head office in Geneva‌recently

Expert Urges States to Float Pandemic Bonds Ndubuisi Francis in Abuja As the COVID-19 pandemic exerts enormous strain on the Nigerian economy, a former Imo State Commissioner for Finance and Nigeria’s first professor of capital market, Prof. Uche Uwaleke has advised state governments to, among others, consider issuing a ‘pandemic bond’ to help finance economic recovery and growth efforts. In an interview with THISDAY, Uwaleke who is also the President of the Association of Capital Market Academics of Nigeria, and a former Head of the Department of Banking and Finance, Nasarawa State University, stated that in response to the impact of COVID-19 on revenue, the federal government had scaled down the 2020 Budget, slashing the benchmark for crude oil prices from $57 per barrel to

ECONOMY $30 as well as production volume, consistent with the Organisation of Petroleum Exporting Countries (OPEC) production cut agreement. “The consequence is a reduction in spending plan likely to affect the execution of critical capital projects. The twin shock is that the pandemic is also increasing spending in an unprecedented way capable of widening the country’s fiscal deficit and raising the public debt burden,� he said, noting that state governments would be worst-hit, being heavily dependent on federation account allocation. The financial expert said: “Sub-national governments will be worst-hit since they depend so much on federation account allocation. Even the VAT revenue from which states and local governments get 85 per cent

of collectible revenue will shrink due to reduced consumption from lockdowns in Lagos and Abuja, the country’s economic powerhouse and major sources of VAT. “The internally generated revenue of most states will plummet due to movement restrictions constraining the activities of the ubiquitous informal sector. “So, in many ways, the tragedy of our situation is that as the epicentre of the disease gradually shifts from Lagos to Kano and other big cities in Nigeria, the human and economic costs will keep mounting leaving in its wake rising unemployment and inflation rates.� He advocated a number of steps for the states to weather the storm, including cost-cutting measures, prudent application of limited resources, availing themselves of financial sources, such as the capital market, among others.

“These states can approach the Stock Exchange with a view to issuing COVID-19 or pandemic bonds that should be deployed to expand medical facilities and adequately prepare against any future pandemic. “This also puts the state in good stead for a public-private partnership arrangement that can boost medical tourism in the state including establishing a world class medical city. In this regard, the Securities and Exchange Commission may consider relaxing some of the conditions to enable interested states do so,� Uwaleke said. He commended the capital market regulators, adding that they have been quite proactive and consistent with the guidance provided by the International Organisation of Securities Com-

CAFEi Harps on Cashless Policy

The Consumer Awareness and Financial Enlightenment Initiative (CAFEi), has called on the Central Bank of Nigeria (CBN) to mop-up dirty notes in circulation to avoid further spread of the COVID-19. According to a statement signed by the President of CAFEi, Mrs. Debola Osibogun, recent reports indicated that the virus could survive on surfaces for as long as 72 hours. With this, she said experts believe it could be transmitted through currency exchange, adding that, “this belief has prompted organisations in other countries including China to begin disinfecting cash with ultraviolet heat treatment.â€? Osibogun in the statement further noted that given the high rate of cash transactions in the country, there was has a higher vulnerability for spread of the virus through cash. The CAFEi President added: “This move should be bundled with the aggressive promotion of the cashless policy of the apex bank consistent with its policy of ďŹ nancial inclusion. “This two-pronged approach will ensure the spread of the virus is minimised in our day-to-day ďŹ nancial transactions and the use of alternative channels becomes an integral part of our existence. “While government is emphasising good hygiene and social distancing, it is important they also create more awareness about the need for people to disinfect their hands immediately after touching cash, cards, POS Machines and ATMs.â€?

‘ALAT’ Marks Third Anniversary

The digital bank, ALAT by Wema Bank has celebrated its three years of existence. A statement explained that to mark this feat, the bank at the weekend hosted an online party on its Instagram Live. It stated that the banking platform has strategically positioned itself as a fast, reliable and convenient banking solution and would continue to align itself with evolving user habits and preferences, especially when users are quickly adjusting to a world where speed, eďŹƒciency and multiplicity will be the new normal. “Known for reinventing the narrative in the delivery of ďŹ nancial services and experiential banking in Africa, ALATwill continue to model the future of banking by empowering users with requisite ďŹ nancial information and capabilities to transact at the push of a button,â€? it added. Commenting on the anniversary, Deputy Managing Director, Moruf Oseni, said: “Pioneering Africa’s ďŹ rst fully digital bank was a feat which Continued on page 24 remains fresh in our minds. We are very grateful to all our investors and partners for the critical role they played, their uninching support, and unwavering trust in the brand. “Three years on, we remain dedicated to optimising users’ experiences, and delivering user-centred and personalised ďŹ nancial services; inspired by our core principles of innovation and resilience. from neglected sources. “Those areas that have been neglected before would give us a direction on how to finance Nigeria going forward,â€? Okeke added. “Even before the He pointed out that agriculture, COVID-19 outbreak, effective tax administration and Nigeria’s economy exploitation of the numerous non-oil minerals would be the was facing headwinds major drivers of the Nigerian from rising external economy. vulnerabilities and falling He emphasise the need to per capita GDP levelsâ€? restructure the economy with constitutional amendment done where necessary, to free

FG Advised to Deepen Economic Diversification Dike Onwuamaeze and Nume Ekeghe

ECONOMY

The federal government has been advised to utilise the challenges posed by the current outbreak of COVID-19 pandemic to transit to an economy that is not highly dependent on oil revenue. This call was made by the Chief Executive Officer of Mascot Consults Limited, Mr. Marcel Okeke, when he spoke on: “Nigeria Without Oil,� at a Webinar organised by the Finance Correspondents Association of Nigeria’s (FICAN) in Lagos, at the weekend.

Okeke, a former chief economist of Zenith Bank Plc explained: “Let me mention briefly that the issue of COVID-19 has wreaked havoc on all economies, especially oil dependent ones like Nigeria and rendered economic development a mirage. “In fact, recession is starring us (Nigeria) in the face. It is a question of how big it will be and anything contrary to that would look like magic.� He noted that oil revenue had been the mainstay of the

Nigerian economy over the years, yet scarcity of funds has been a major challenge of government at all levels. Therefore, now that the mainstay of funding for the economy, which is oil, is practically gone, there is an urgent need for an alternative economy which is a Nigeria without oil, he said. “And this means that dependence on oil as the major revenue earner has come to an end. So other sources must be urgently explored and exploited. This points to an urgent restructuring of the economy of the country such that substantial revenue must come

DMD, IMF, Continued on page 24

Mitsuhiro Furusawa

T H I S D AY Ëž Í˛Ëœ 2020

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BUSINESSWORLD EXPERT URGES STATES TO FLOAT PANDEMIC BONDS missions and International Federation of Exchanges to maintain market integrity. He noted: “For example, I am aware that SEC, as part of its COVID-19 response efforts adopted an electronic filing approach for capital market operators and stakeholders and also approved a sixty-day extension for public companies and capital market operators to file their 2019 annual reports and their first quarter 2020 reports. “I am also privy to the fact that the Nigerian Stock Exchange activated its business continuity plan by providing remote trading access for dealing member firms which has ensured continued trading during normal hours, a development that could encourage direct transactions by investors which will be positive for the market.� FG URGED DEEPEN ECONOMIC DIVERSIFICATION

the country’s three tiers of governments from the monthly oil revenue sharing habit. “There is an urgent need for fresh legislation to disentangle the three tiers of government from oil money sharing culture. In a situation where you now have Nigeria without oil, this culture will disappear. “So, there has to be a genuine amendment of the Nigerian constitution to reflect the new economy that no longer depends on oil,� he said. Okeke, also advocated for a new emphasis on gas exploration and exploitation, the refocusing of the Nigerian banks to support the real sector of the Nigerian economy, the elimination of rent- seeking activities that inhibits productive investments and the repackaging and marketing of the country as an attractive investment’s destination. He added that emphasis should be laid on internally generated revenue by subnational governments. He also recommended that Nigerian banks should be refocused toward industrialisation and real sector growth and be made to desist from current activities like dealing on treasury bills and government bonds,

NEWS

Prioritise Dangote Refinery, Expert Tells FG Dike Onwuamaeze The Chief Executive Officer of the New Horizon Systems Solution, Mr. Tim Akano, has advised the federal government to prioritise funding of the Dangote Refinery, as part of its strategy to reflate the economy. Akano, gave the advice in a paper he presented during the ‘THISDAY Life Lessons Policy Dialogue titled “Which Way Forward for Nigeria after COVID-19 Lockdow?� held through an online platform. Akano also stated that Nigeria needs the help of God, the support of the global community and sound judgment by its leaders to be able to come out of the disruptions created by the COVID-19 pandemic. He explained: “The federal government, Central Bank of Nigeria (CBN) and Lagos State should prioritise the Dangote Refinery as a critical national security asset backed up by Executive Order. The refinery should be accorded 101 per cent support to ensure it is commissioned by year end. Why? Dangote’s Refinery is to Nigeria what Huawei is to China, or Samsung is to South Korea or Toyota is to Japan. “About 70 per cent of our foreign exchange is used in importation of petroleum products. If we can begin to save even 50 per cent of that from the first quarter of 2021, the naira will ‘smile again’ and swell in value while Nigeria foreign reserves will stand erect.� He maintained that the way forward for Nigeria after COVID-19 pandemic would require sound economic package to stabilise most of the micro, small and medium scale enterprises (MSMEs), reflate

the economy, minimise job loss and business bankruptcy. “I strongly believe it is possible for Nigeria to emerge stronger from this experience, if common sense and good judgment prevail. The economic team should call for a national debate and be humble enough to listen to and review both wise and stupid suggestions. What have been unveiled so far by CBN are mere palliatives which are inadequate to stop the looming mass business failure,� maintained. Akano also called for a 90-day amnesty for those who looted the national treasury from October 1, 1960 to April 30, 2020, to enable them to bring them out as fixed deposit in Nigerian banks within the stated grace period. “I have a hunch Nigeria will

raise more than $100 billion from this exercise. The owner gets one per cent interest on fixed deposit, the MSMEs borrow the money at five per cent interest rate. This is a win-win game between Nigeria and the ‘’owners’’ of the money. “Right now it is lose-lose game as the owners cannot access the money for fear of EFCC and it is equally not useful for Nigeria’s economic development,� he said, adding that, “anyone who is caught looting the national treasure after April 2020 can face life imprisonment or capital punishment.� He also recommended that Nigeria should raise $50 billion from Africa Diaspora Investment Fund (ADIF) at three per cent interest rate through the African

Development Bank, reduce salaries, allowances and perks of all politicians by 50 per cent with effect from April 2020, and provide a one-off student bursary of N50, 000 each to every student in secondary and tertiary institutions across Nigeria to stabilise the education sector, which is one of the country’s biggest employers of labour. Akano also called on Nigeria National Petroleum Corporation (NNPC) to reduce its cost structure by 30 per cent to save about $5billion yearly for government to spend. He called on the federal government to do a comprehensive audit of dormant accounts, including those belonging to dead Nigerians, in the country’s banking system as well as unclaimed

billions of naira whose owners have refused to supply their BVN for fear of EFCC and use them as stimulus package for MSMEs. Other measures enunciated by Akano to cure the country’s ailing economy included granting Nigerian businesses that are five years old and above a maximum of 20 per cent of their three-year average yearly turnover as loan at five per cent interest rate with one-year moratorium. He said this should be done within seven days after the lockdown has been lifted, using their businesses as collateral. “When China became serious on transformation, Chinese businesses get cheap loans five per cent within 72 hours of submitting their loan applications,� he said

CSR IN ACTION

L-R: Executive Director, Property World Africa Network (PWAN) Lekki, Nnadi Daniel; Managing Director, Odusanya Mukaila Odutola; Managing Director PWAN Advantage, Chinedu Ezenwa; Group Executive Director PWAN Group/ Managing Director PWAN Legend, Afam Okonkwo; Managing Director PWAN Plus, Julius Oyedemi; Managing Director PWAN Heaven, Dr. Fred Okpaje; and General Manager PWAN Homes, Olusegun Joseph at the PWAN COVID-19 palliative/food distribution in Lagos... recently

Transcorp CEO Commits to Improved Performance Goddy Egene The President/Group CEO of Transcorp, Mrs. Owen Omogiafo, has stated her commitment to safeguard shareholders’ interests by ensuring improved performance and returns on investment. Omogiafo, who was recently appointed the Group CEO with a team of subsidiary CEOs, stated that the new management team was dedicated to delivering and exceeding the strategic objectives of the company,

rooted in its founding vision and expressed in its corporate purpose of ‘Improving Lives, Transforming Nigeria. The CEO, who gave the commitment at the annual general meeting (AGM) added: “In hospitality, we will deepen and expand our market share by deploying an asset light strategy, leveraging best in class technology and continuously drive the highest service standards. “In power, we target completing the ongoing transaction for the 100 per cent acquisition of

another power plant in the gas rich Niger Delta Region of Nigeria – Afam Genco, this year. “This will enhance our play in the power space, with increased generation capacity, revenue and profitability. Our drive to diversify our energy mix will also continue, with a focus on renewable energy and off grid solutions. “We will continue to monitor developments in the oil and gas space, while making the best decisions in the interest of the company and its shareholders

regarding the development of our oil and gas asset, OPL 281. According to her, working with the MD/CEO of Transcorp Hotels Plc, Dupe Olusola and the MD/CEO, Transcorp Power Ltd, Chris Ezeafulukwe, and all their staff and partners, they are well positioned as a group to continue to deliver great value for our shareholders. In his address to the shareholders, the Chairman, Transcorp Plc, Mr. Tony Elumelu, commended efforts of the government in combating the pandemic and

reiterated the importance of synergy between the private sector and government, in stemming the spread of the global pandemic. “I have often said our commitment to improving lives and transforming Nigeria is a lifelong one. Those words are truer today than ever, as we partner with State and Federal authorities to stem the tide of the COVID-19 pandemic, while our businesses seek to cushion its impact for Nigerians in their course of operation,� Elumelu added.

Interswitch Group, Employees Raise N305m Response Fund Emma Okonji 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)

The Interswitch Group has raised a total of N305 million towards the organisation’s COVID-19 response effort. Employees of the organisation contributed a total of N75 million and the company augmented their efforts with the sum of N230 million. This was part of a coordinated effort to complement ongoing public and private sector initiatives to address the spread and mitigate the negative impact of the coronavirus pandemic in Nigeria. Announcing the fund and how it will be deployed, the Founder and Group Chief Executive Officer at Interswitch, Mr. Mitchell Elegbe, said the

fund from Interswitch Group and its employees would be deployed to support the setting up and equipping of isolation centres, purchase of COVID-19 Test kits, provision of Personal Protective Equipment (PPE) and related support to frontline heath workers, as well as the operation of foodbanks to cater to under-privileged communities in Lagos. According to Elegbe, Interswitch’s Verve Brand sealed a partnership with the Lagos State Feeding Programme to provide raw food items for poor and vulnerable communities in Lagos. The Group also supported ‘The Young President’s Association and the Lagos State government in setting up the already

functional Eti-Osa Isolation centre in Lagos. The fund provided the Delta State Government with tropicalised ultra-low temperature (ULT) laboratory refrigerators that would be used for the storage of reagents and other laboratory consumables and COVID-19 test samples, pending when they will be transported to the designated COVID-19 Testing Laboratory in Irrua, Edo State. In addition, Interswitch said it is finalising discussions with Edo, Enugu, Kaduna, Ogun and Oyo states in the area of providing test kits and personal protective equipment (PPE) for frontline health workers, Elegbe said. Leveraging on its core responsibilities as a technology company and systems integrator, Elegbe

added that Interswitch would be providing free technology for the use of governments and healthcare authorities. Through its healthcare subsidiary, eClat Healthcare, Interswitch is also building a user-friendly, locally-nuanced software application for members of the public as a first-line intervention for the assessment of risk and pre-disposition to the novel Coronavirus infection. The software platform analyses users’ information provided from answers to a series of questions around risk factors, recent exposure, observed symptoms, health and travel history. The initiative essentially serves to provide guided and up-to-date information on COVID-19, reduce

panic, lower gross footfall to medical facilities, being a first-line checkpoint and ultimately reduce risk of exposure to health workers on the frontlines of fighting the pandemic. Designed with an interactive interface, the solution facilitates further virtual consultation for infected persons, meaning infected persons can stay in their homes and access consultation as to whether their symptoms give cause for alarm or not. The eClat Health-tech solution supporting State Governments’ response to COVID-19 has already been implemented in 20 states across the country. It is currently in use in Lagos State’s Eti-Osa Isolation centre, and in Edo, Ogun and Oyo States.

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BUSINESSWORLD

INTERVIEW

Eke: Financial Services Sector Key to Economic Diversification The Group Managing Director/CEO of FBN Holdings, Mr. UK Eke, in this interview speaks on the performance of the holding company, its contribution to the fight against the COVID-19 pandemic as well as towards Nigeria’s push for economic diversification. Goddy Egene brings the excerpts: How will you assess the performance of the institution in the first quarter of 2020? FBN Holdings had an excellent Q1 2020. Notwithstanding the difficult environment that has characterised the 2020 financial year and the likelihood of global economic slowdown, FBN Holdings has demonstrated, with the results, its capacity to reinvent itself and deliver on its promises to the market. The financial results for Q1 2020 have further demonstrated the resilience of the Group and its ability to generate income as evidenced by the 14.5 per cent growth in gross income over the prior period. Across all key financial metrics, we have seen significant growth and consistent upward trends, building on the 2019 performance. The Group posted a profit before tax (PBT) of N28.7 billion, an impressive 61.5 per cent growth over the prior period. From an efficiency standpoint, return on average equity has grown from 12.4 per cent at year-end to close the period at 15.5 per cent. Similarly, the cost-to-income ratio has trended downward at 65.1 per cent, buttressing our commitment to the market to rein-in cost and leverage technology as a key lever to our cost containment strategy. Quite frankly, the performance is a carry-forward of the momentum we picked in Q3 and Q4 2019. Over the last five years, we have embarked on the journey to reposition the Group and reclaim our market leadership by strengthening the process, retooling our workforce, and leveraging technology to drive efficiency. We have to take the learnings from the challenges the Group faced with its legacy loan book and have put in place a robust framework to forestall these performance challenges in the future. Secondly, the non-interest income, particularly, e-business contribution was very impressive, justifying our increasing investment in digital innovation. Specifically, the e-business contribution to non-interest income is about 30.2 per cent. Clearly, our flagship, the commercial bank remains the dominant player in e-banking. We are delighted that the tools provided have fired up the workforce, leading to motivation to challenge for an increased share of customers’ wallets. Having said that, I hasten to add that there are significant headwinds from the macroeconomic standpoint and disruptions in global trade occasioned by COVID-19 and commodity prices, particularly crude oil prices. Consequently, we expect these macroeconomic challenges to reflect in the full-year performance of companies in nearly all markets. Having tackled your legacy issues, how are you ensuring that they do not reoccur going forward? I am glad you are paying attention to the numbers. At the start of the 3-year planning cycle which ended in 2019, we committed to the market to reduce our non-performing loan(NPL) ratio from a level north of 25 per cent to a single digit by the end of the cycle. I am glad to report that we achieved this at the end of the 2019 financial year when the Group posted an NPL ratio of 9.9 per cent. This single-digit NPL ratio for 2019 tells half of the story. The more commendable achievement and by far more important to the Group is the fact that the NPL ratio of our vintage loan book, new loans created in the last three years, is below one per cent. This is a leading indicator and a testament to the extent of work done by the Group to overhaul our risk management architecture. We strengthened the three pillars of risk management – people, process, and technology. Accountability has improved, the processes for risk management are a lot more robust and technology including analytics underpins the process end-to-end. Now that we have decisively addressed the legacy NPL issues, we are focused on cautiously expanding our loan book and ensuring that all lending entities are able to grow their top-line without compromising risk management. Going forward, we are now a lot more deliberate on the choice of borrowing clients, meaning quality at origin and also even more selective in sectors of preference We are currently faced with the COVID-19 pandemic with its expected debilitating impact on businesses and the economy at large, how is FBN Holdings handling this situation? COVID-19 pandemic is a global phenomenon. Even though these are early days, we have begun to see the devastating impact of the pandemic across the entire globe. There is a growing consensus

How is FBN Holding contributing to the deepening of the financial inclusion policy of the federal government? This question ties into my last response and on this front, we have led the market. Today, we have grown our agency network from zero to over 53,000 agents in the last three years, covering 772 LGAs out of the 774 local governments in Nigeria. Similarly, we also maintain the most extensive branch network in Nigeria. In nearly all alternative networks and switching platforms, we continue to lead the market and provide access to financial services for Nigerians in remote locations through our *894# and other platforms. The commercial bank currently has 2,970 ATMs and controls 33 per cent of the transaction volume carried out on the domestic dominant switch and 22 per cent share of Nigerian Inter-Bank Settlement System (NIBSS) traffic. The bank crossed the 10 million, active card in issue in 2019, leading the West African market in this regard. We have received several commendations and awards in this regard including the Emerging Markets and Middle East (EMEA) award for the best mobile app in Nigeria banking industry.

Eke that we may have entered a global recession and this position is reinforced by recent economic data including labor data in the US as well as other economies. In Nigeria, we expect data for Q2, 2020 to show what we already know given that the price of crude oil has suffered a significant drop since the turn of the year. This has already informed a reduction of the 2020 budget by N1.5 trillion and a revision of the crude oil benchmark price from $56 to $30. This development poses a significant challenge to the finances of government and by extension, the entire economy considering the importance of crude oil prices to the finances of the government. It remains to be seen if the $30 per barrel will stand given current glut in the market. This is a double whammy that calls for a decisive response by all stakeholders. The financial services sector is not ring-fenced from this challenge and by implication, we will see significant implications of this pandemic reflect in our end of the year results. However, it is important to highlight the fact that we have triggered our robust business continuity plans to ensure the impact is minimised. It is also noteworthy to highlight that our investment in technology has strengthened our business to take advantage of the social distancing and remote working model. Today, a huge chunk of our revenue comes from non-interest income which is largely transactions done via alternative channels. We have successfully enhanced our transaction mix to an 85:15 ratio in favor of alternative channels. Interpreted differently, 85 per cent of all customer-initiated transactions are consummated through alternative channels. In a nutshell, even though expectations for 2020 full year numbers have been dampened across sectors, regions, and markets, we are fully committed to ensuring this impact is minimized. Recently it was disclosed that FBN Holdings is in the process of divesting its 65 percent in its insurance subsidiary, what informed this decision, and what are the implications for the Group? First, let me emphasise that this is an ongoing process. We are in discussion with the Sanlam Group, a South African part-owner of the business, for the potential acquisition of our 65 per cent equity interest in FBN Insurance Limited. Consistent with a merger and acquisition (M&A) process, there are a few more hurdles to scale before a deal of this nature is concluded including regulatory approvals. For FBH Holdings Plc, this is a business decision and in line with our periodic portfolio review. The Group runs a 3-year planning cycle and the new cycle kicked-off at the beginning of 2020 financial year. This planning process allows us to carry out a comprehensive review of our portfolio for optimising capital and ensuring that businesses within our investment portfolio are consistent with our long-term aspirations. The proposed divestment

of our stake in the insurance business is in the normal business of the holding company which operates as a corporate center and responsible for ensuring capital is effectively deployed to ensure optimal return to our shareholders. Despite the fact that FBN Holdings is a leading financial services group, its share price on the Nigerian Stock Exchange (NSE) is still very low, why do you think this is so and what are you doing to make investors see the value in the stock? Our engagement with the market is robust and our philosophy is to speak to the market through our performance. As business managers, our remit is to deliver top-notch performance and where we have challenges, resolve them, and put in place processes to forestall future challenges just like we did with resolving the NPL issues. In the long-run, the market has been proven, time and again, to have the power to fairly value assets. We believe that our share price has not fully pricedin the robust fundamentals of our business and we are convinced that there exists a significant upside to buying our stock. Post the release of the FY2019 financial results, all research houses had our stock on the ‘buy’ rating, indicating a significant difference between the intrinsic value of the business and the share price. Our Q1 2020 numbers are indicative of a Group that has completed a turn-around, ready to regain market leadership in the near term There have been complaints in some quarters, especially, among the SMEs, that the financial institutions are not doing enough to grow the economy, do you agree with these complaints? This reinforces the fact that there are gaps in the system concerning credit penetration. The Central Bank of Nigeria (CBN) has done an incredible job of ensuring credit is directed to the deficit units in the system and increase the SME space. Regulation such as LDR and various SME intervention funds are tailored-solutions to addressing credit flow to the SMEs. The numbers show that this is improving and I fully understand the need to do more. Make no mistake, across the aisle, there is a broad consensus that credit to the SMEs is crucial to growing the economy as SME is the engine of any economy. We also have an agreement that there are structural challenges to providing credit to the SME segment of the markets, but these are being dealt with by the regulators with the introduction of BVN and the passing of the Nigerian Collateral Registry Act among other steps. With the spread in 772 local government areas (LGAs) and over 53,000 agents, we have the touch-points to support MSMEs. Indeed, over the years, we have enhanced our lending into this sector and you will see more of this during the current planning cycle.

The advent of FinTech companies is changing the face of the financial services sector, does this pose any challenge to FBN Holding given the fact FirstBank is a leading retail banking institution that has used its wide network to generate significant income over the years? At FBN Holdings, what we see are limitless opportunities to collaborate to increase our market and driving efficiency. Our vision is to lead the market in innovation. Consequently, we opened the FBN Digital Lab in 2018 at the heart of Yaba, the epicenter of innovation in Nigeria, in pursuit of this aspiration. That lab today is the melting pot for young entrepreneurs and a center for incubation of novel ideas in the financial services sector. Our extensive platforms, large customer base, name recognition, and scale of services make the Group a partner of choice for Fintechs who are naturally inclined to partner with institutions with the right network for growth. Our role is to support the building of a robust and extensive yet efficient ecosystem that will give confidence to the users of financial services in the economy. We have begun to see the benefits given the increasing share of our revenue mix from fee and income from alternative channels. FBN Holdings has commenced the implementation of a new strategic plan, how will this plan position the group in the coming years? We currently run a three-year strategic planning cycle and the last cycle ended in 2019. We have commenced a new cycle that runs from 2020 – 2022. The strategic focus for the next three years is to reposition the Group to reclaim its leadership across key metrics and in all the markets we serve. This involves collaboration across the Group to enhance several enablers that are key to our business – risk management, people, processes, and capital. Technology cuts across all of these key growth drivers and remains a major consideration for the Group. As you are aware, we have made a significant investment in technology, and in the next three years, we will be working to harness the benefits of this investment. Similarly, we will be harnessing the huge amount of data to drive our businesses to stay ahead of the curve. Collaboration and synergy are also key components of our medium to long-term strategy as we take steps to up the ante in our plan to increase the share of customer wallets through product bundling and analytics. M&A is one of those developments that will shape the industry in the short to medium term. Our approach is to fully optimise investment in our African businesses and then evaluate opportunities to expand our regional footprints. We believe there will be opportunities for big bets and M&A activities and we will be looking to be part of the conversations. We have evolved into a transaction-led Bank against a credit-led institution and we continue to entrench our mantra of ‘putting the customer First’ in how we serve our various markets. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

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Total Health Trust Provides Covid-19 Relief Materials The Total Health Trust Limited (THT), a member of the Liberty Group, has collaborated with healthcare providers in the country to ensure that the country wins the war against the COVID-19 pandemic. According to a statement, to this end, the THT has created a COVID-19 relief initiative for its network of healthcare providers to ensure that Nigerians continue to have access to the healthcare they need during this challenging time. Through this initiative, the THT said it would be supporting healthcare providers to mitigate the impact of the epidemic by covering the cost of protective disposable equipment, such as masks and gloves, for consultations, as well as technical support for exposure to COVID-19 related cases. In a statement by the health maintenance organisation, its CEO, Kieran Godden, applauded the intensive efforts of healthcare professionals in curtailing the spread of the virus. “We at Total Health Trust, and indeed the whole country, remain very thankful to our health professionals, the NCDC and the State Ministries of Health for the immense and co-ordinated role

they continue to play in ensuring that the country records ongoing success in the fight against this pandemic� he added. “At Total Health Trust, we are concerned about the well-being of healthcare providers and the risks they face to ensure a healthier Nigeria. We understand their concerns in managing their own exposure to suspected Covid-19 cases, while providing medical care to citizens. As such, we are focusing our efforts on providing the necessary protection in the fight against COVID-19.� “Furthermore, our commitment to delivering the highest level of support to our network of healthcare providers continues, especially at a time when their operations and needs are quickly changing “As a responsible corporate organisation, with a purpose to make Nigeria healthier, we are contributing to the fight against the virus by empowering our healthcare centres across Nigeria to continue delivering essential health and wellbeing services. We urge other corporate organisations and sector leaders to play their part as we overcome this disease together as a nation,� Godden said.

Wapic Insurance Offers Health Workers 15% Premium Rebates Hamid Ayodeji Following its recent announcement giving premium refunds to customers with active motor vehicle policies during the lockdown period, Wapic Insurance, one of Nigeria’s leading underwriters, has gone further to offer health workers across Nigeria a 15 per cent discount on new policies taken up in 2020. The initiative is to help cushion financial hardship associated with the COVID-19 pandemic.

A statement from the insurer explained that the rebate to health workers cover personal accident, householder insurance and motor insurance and it would be for the tenor of the policies. In line with regulation discounts do not apply on renewal, it stressed. According to the Managing Director, Mrs Adeyinka Adekoya, “This corporate gesture is in appreciation of the noble effort of our health workers, who are in the frontline of the battle against the Covid-19 pandemic�. Recently, the insurer announced

a pioneering initiative costing millions of naira in premium revenue that would give refunds to its motor insurance policy holders. The offer from Wapic Insurance ensures that customers with active policies are automatically credited with refunds based on the lockdown period. Since the outbreak of the pandemic in Nigeria, Wapic Insurance has been at the forefront of Insurance sector contributions towards the fight against the Covid-19 virus. The company has contributed N40 million to

the federal government’s Covid-19 response effort, Wapic is also one of the insurance companies underwriting free health cover for Nigeria’s 5000 health workers. Most importantly the company is demonstrating its commitment to sustainable business practices by fighting the pandemic through its core underwriting products and services Wapic Insurance is committed to rolling out more socially responsible and development focused initiatives using its capital, products and services during these challenging times.

Ecobank Pledges Customer Satisfaction Goddy Egene The Group Chief Executive Officer of Ecobank Bank Transnational Incorporated, Mr. Ade Ayeyemi, has said the focus of the bank is on making sure that it meets the needs of customers despite the pandemic, while also ensuring their wellbeing and safety as well as those of its employees. Ayeyemi stated this why commenting on the performance of the financial institution in the first quarter ended March 31, 2020. He said the quarterly performance was resilient, again reflecting the strength of our diversified business model. “We delivered $90 million in pre-tax profits, an increase of 27 per cent if adjusted for currency translation effects, and a return on tangible shareholders’ equity of 17.1 per cent. We are managing impairment losses prudently, and as a result, our cost-of-risk increased to 1.5 per cent, versus 0.5 per cent in the prior-year quarter,� he said. He explained that all their countries have successfully activated their business continuity plan in line with the needs of each local environment. According to him, the number and value of transactions on bank’s digital/online channels across our businesses grew by eight per cent and 15 per cent to four million and $6.1 billion, respectively, on Ecobank Omni+, Corporate and Investment Bank’s corporate clients’ online banking platform in Q1 of 2020. Ayeyemi said Ecobank Pay, its payments platform saw a 61 per cent increase in merchant acquisition numbers to 195,000 merchants. “Registered customers increased by 3,000 to 9,000

year-on-year on our Africa RapidTransfer App, which facilitates low-cost money transfer across 33 African countries. The number of XpressPoints (our physical agency network) grew by approximately 4,000 agents to 43,700, with the value of transactions reaching $445 million,� he added. He said the OmniLite, Commercial Bank’s online banking platform designed specifically to meet the unique financial needs of SMEs increased number of transactions by 40,000 to 126,000, which amounted to $435 million. The GCEO noted that through investment in technology over the years, working from home has been seamless and indeed a pretext to a possible new normal post COVID-19. As the leading pan-African bank. “ Ecobank embraced the call to duty with a sense of urgency. With our knowledge of Africa and its intricacies in the fight against the spread of COVID-19, we have contributed about $3 million in the form of cash, healthcare equipment and supplies, in addition to mounting sustained and robust awareness campaigns, while we are also using our digital banking platforms to provide money to some of the most vulnerable members in our communities,� he said. Ayeyemi noted that in recognition of the effects of the pandemic on a significant sector of African businesses, MSMEs, the bank is further co-leading, with the African Union-NEPAD, and is actively committed to an initiative to support MSMEs with technical knowledge, mentoring, knowledge sharing and financial support, thus playing a vital role in helping their businesses survive the pandemic.

FIGHTING COVID-19

Chairman, Association of LicensedTelecoms Operators of Nigeria (ALTON), Mr. Gbenga Adebayo (left) and Head of ALTON Secretariat, Mr. Gbolahan Awonuga, during an emergency meeting organised by ALTON in Lagos...recently

Tolaram Group Supports COVID-19 Fight with N1bn Raheem Akingbolu The Tolaram Group, promoters of Indomie Noodles, Power Oil, Hypo bleach, Kellogg’s, Dano, Colgate, and many more household brands in Nigeria, has announced a donation of N1 billion worth of cash and products to the Nigerian government. The donation was to combat the spread of COVID-19 as well as for the treatment of diagnosed individuals in Nigeria. Speaking on the donations, Managing Director, Tolaram Group, Haresh Aswani, said: “We believe that no amount of support is too much during this trying global challenge. We also believe our contribution will go a long way to expand the health capabilities on the ground, espe-

cially testing, isolation, provision of treatment facilities, and the humanitarian palliative measures which are essential to curb the spread of the virus and support Nigerians in its aftermath.� He commended government’s effort so far and stated that the company would continue to explore other areas of intervention to support the cause. “It is a difficult moment for any government globally, but so far, our government has done remarkably well in her fight against COVID-19 and must be commended. “Tolaram will continue to collaborate with the government and all relevant agencies at both the federal and state levels to jointly combat the effects of the virus,� he added.

Aswani further stressed that the Group in collaboration with Nigeria Centre for Disease Control (NCDC) has also embarked on an enlightenment and awareness campaign to educate Nigerians on COVID-19 through various media channels, based on World Health Organisation’s (WHO) guidelines for safety at this period. The managing director further lauded the sacrifice and effort of medical personnel who risk their lives daily caring for infected people and helping curb the spread of the virus. He urges Nigerians to continue to abide by the advice prescribed by the WHO, NCDC, and Federal and State Health Agencies, so that the spread of the virus can be halted. This donation, he said, was in addition to the thousands of

cartons of food products and Hypo disinfectant previously donated to multiple state governments, NCDC and Federal Airports Authority of Nigeria (FAAN). The Group has also been involved in the feeding of internally displaced persons, police professionals, and providing product support to medical personnel in Lagos and Abuja along with setting up of disinfectant tunnel in 20 major markets across Lagos to prevent the spread of the virus. Furthermore, the Group, in collaboration with other private sector companies, has contributed to setting up a 110-bed intensive care centre, fully equipped with all necessary world-class medical equipment including ventilators, for the treatment of infected and recovering people.

Group Rolls Out Palliatives to Lagos Community Etop Ukutt Residents of Sangotedo in Eti-Osa local government area of Lagos State recently heaved a sigh of relief, when the PWAN Group, a real estate marketing company donated food stuffs to 1,000 families. THISDAY findings showed that each beneficiary went home with rice, noodles, vegetable oil, tomato paste, among other items. Also, over 1,000 pieces of face masks were also given out even as the residents were encouraged to embrace safety measures by government and medical experts to check the spread of COVID-19

pandemic. The Chairman of PWAN Group, Dr. Augustine Onwumere, said he was deeply touched seeing that the stay-at-home order, which ordinarily was a positive move by government to arrest the spread of the virus in the country, had subjected many families to hunger and serious economic challenges. “As a responsible corporate organisation, we could not just sit back and watch residents of our host community languish in extreme hunger, without making efforts to cushion their sufferings. “Lockdown without food is

a knock down; that is why we took necessary steps to ensure that everyone benefited from our food distribution exercise,� Onwmere explained. The Managing Director of PWAN Plus, an affiliate company, Julius Oyedemy, added: “The essence is to support the federal government. As an organisation, we are targeting to reaching out to over 1000 families and suffering masses who cannot afford food at this critical time of COVID-19 pandemic.� Oyedemi explained that, the exercised, which began on April 25 in Sangotedo, would be replicated in over 15 communi-

ties in Eti-Osa, Ibeju-Lekki, Epe local government areas where PWAN Group is located. To achieve quality distribution as well as ensure social distancing, the Group collaborated with EtiOsa local government officials, the police and community heads. “What we are doing is also our corporate social responsibility to the communities, to touch lives at this point in time where people are hungry. “We have rice, cartons of noodles, vegetable oil, tin tomatoes to share for people to feed during these trying times,� the Group Executive Managing Director, Afam Okonkwo, said.

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BACK PAGE CONTINUATION

NGE Seeks Special Protection for Journalists Peter Uzoho In commemoration of this year's edition of the World Press Freedom Day, the Nigerian Guild of Editors (NGE) has called on owners of media organisations to provide special protective equipment for journalists covering the novel COVID-19 pandemic to prevent them from contracting the disease. The NGE also demanded for the immediate release of all detained journalists in Nigeria and all over the world. While congratulating journalists in Nigeria and across the world on this year's event themed: "Journalism Without Fear or Favour", the NGE, however commiserated with families and friends

of their departed. The guild in a statement issued yesterday jointly signed by its President, Mr. Mustapher Isah and its Social and Publicity Secretary, Mr. Ken Ogbeche, said the special day acted as a reminder to governments, of the need to respect their commitment to Press Freedom while also providing an opportunity for media professionals to reflect on, and renew their commitment to best journalism practice and ethics. NGE said: "The Guild urges media owners to provide special protective equipment for these journalists, in order for them not to be infected. "World Press Freedom Day was proclaimed by the UN General Assembly in December 1993,

ALL ABOARD‌! STEERING NIGERIA’S COVID-19 ACTION TRAIN despite these past few weeks of CNN onslaught. This is the unfortunate reality of many of the countries of the West, who, before this pandemic, would have had their healthcare systems described as robust. Our very fortunate position is not the triumph of preparedness on our part for COVID-19, and it is important that we not deceive ourselves. It is the absence of an onslaught. Those who choose to hide their aÄ?iction, as if an airborne disease should be a source of shame, by checking into uncertiÄ™ed private hospitals, can still do so because the hospitals are not overwhelmed; and those who scowl at the rich for carrying on like spoiled brats and choosing self-care over dedicated public health infrastructure do so because the IDH still has beds that we would like to see the rich occupy. We do not have pandemic-level infection rates in Nigeria. If we did, we would curse the rich for daring to monopolise the few beds that would oÄ›er ordinary people a chance at survival. Our infection rates are not high;not yet. This is not to say, that eÄ›orts are not being made to get at least some idea of the numbers of infected people, outside of those who have self-reported or presented with symptoms. Let us not sell our public health oÄœcials short. Lagos State has, since mid March, focused on expanding the testing dragnet to include contact tracing, and randomized sample testing in the various local governments. The same is true in Edo, Ogun, FCT and aduna. The results from these eÄ›orts will give us some sense, if we extrapolate, of the likely transmission and infection rates of the virus. Will it ever be enough to develop accurate projections? No, it will not. But let’s not get carried away by the global clamour for testing. In the here and now, the resources don’t exist for universal testing in Nigeria, or indeed anywhere. There aren’t enough tests in the world, and they cannot be produced quickly enough. Even if they were available, all the cash donations of the elite and corporates put together would not cover the cost of universal testing here. What we can do, rather than fantasize, is examine the stats that we do have, and track other moderate to severe disease indicators like symptomatic presentation at primary care centres, hospitalisations and deaths – even if they are lagging indicators – that do not lend themselves as easily to obfuscation, and reach an educated conclusion. We do not have a pandemic, yet. I emphatically use the word “yetâ€? to qualify our COVID-19 situation, and have probably done so enough times in the course of this write-up to beg the question: “This man, are you praying for Corona to come?â€? It cannot, after all, be a coincidence that this lockdown occurred at the cusp of the Christian Lenten period, and the Holy Month of Ramadan. Yes. As a praying person myself, I need no convincing of the power and mercy of od in the aÄ›airs of men. I am, however, unconvinced that we are the only ones who pray, or that in this one thing, God is partial to Nigeria and Nigerians because the commiÄ´ed Christians and faithful Muslims in the rest of the world are somehow less worthy than we are. If God shows us mercy, and we never experience a full COVID-19 pandemic in Nigeria, let it be because when the window to act was given to us – which others may not have had, mainly because of the virus’s migration paÄ´ern – we chose to act wisely, and use the information we have today that others did not at this stage in their own journey to alter the course of its trajectory in our nation. It is probably useful that we also examine another important aspect of our COVID-19 proÄ™le. When I describe us as not yet having a pandemic, it is important that we not read that to mean the expectation of a “second waveâ€?.Frankly, that is much further ahead of where we are than any of us can venture to posit on. The number of cases, while low, has neither peaked nor begun to decline in Nigeria. We are, to be clear, easing the lockdown while still on the ascending end of the curve, much earlier in the course of the disease’s trajectory than the countries of the West. We can take this calculated risk because our numbers are low relative to population size, and frankly because we must strike that delicate balance between lives and livelihoods. We cannot aÄ›ord to stay closed longer, so we have taken the upfront pain of a month-long clamp down, in the hope that this initial containment will improve our chances of long-term management. That is the strategy. We have not peaked, we have not plateaued. Our numbers remain on the rise. The Ä™rst wave is still on course but our numbers are

suĜciently low to enable a cautious restarting of our economy to ensure survival. Already, we are dealing with a collapse in oil prices. Most of our people inhabit a daily economy. Continued closure may not be an option. As we prepare to continue our COVID-19 Action train journey, we must consider what we know about this virus, and the possible alternatives ahead of us. It is possible that the infection rate in Nigeria will remain manageably low; because our tropical climate may be a deterrent, or/and because those of us in the developing world have more active immune systems and are less likely to develop severe disease, or/and because we are successful in adapting to a “new normal�. It is also possible that we will experience an aggressive steepening of the curve, because we are not special, or/and because that is the likely outcome if we fail to adapt to an enemy that is already within, or/and because this virus has a continental sweep paĴern, will travel when we eventually open up our borders, and be carried along or arrested by whatever behaviors we begin to implement now. Even with heat, and without migration, this virus has shown that it will spread here. So, we must continue on this journey knowing that thisrelatively “managed� situation of ours can, spiral out of control very quickly, given our lean resources, if we do not make signięcant changes as we ease the lockdown. We have been able to slow the spread thus far, but as we begin to move around again, those who have been exposed to the new cases we are recording today, will also start to move about and shed the virus in their droplets – as they speak, cough, sneeze and touch surfaces and currency notes everywhere they go. This is not a prediction of doom; it is an acknowledgement of science, and the realities of how this virus has behaved even on our own shores. Are we prepared to play the game of odds with nearly 200 million lives at close quarters? Another thing to bear in mind, is that in the absence of a treatment or vaccine, COVID-19 will remain with us across the globe for the foreseeable future. Even the best-case-scenarios for vaccines and treatments put us at least a year to 18 months away. Having a formulation that works is one thing. As we have seen with testing, making enough of it to cover the world is another. We are probably some 2 to 5 years away from being able to treat this virus universally.This is a best-case scenario. This virus is not going away any time soon. It may travel in waves, peak and trough, but in the absence of a vaccine, the outbreaks are here to stay. Quite possibly, by the time a vaccine reaches us, herd immunity will likely have set in. After all, we know that about 60 %to 70% of people who become infected will have mild or no symptoms. That even of those who develop moderate to severe disease, 65% to 75%will live. COVID-19 is not a death sentence, but it spreads easily and rapidly, and disease progression in the vulnerable, moves with a speed that makes the simultaneous treatment of many patients, literally a losing race against time. So the beĴer we get at reducing the number of people who are infected at any one time, the more likely we are to be able to reduce the number of deaths in Nigeria; and the more likely we are to beneęt from the greater body of knowledge and treatment protocols that are being developed worldwide. We now know, for example, that the ventilators should be a last resort, as only approximately 20% of people who are put on them will likely make it oě. Slowing down the spread also improves our chances of access to drugs. The more we are able to reduce the number of people with severe disease, the more likely we are to have enough medication to go round. As we transition from fully sheltering-in place to restricted interstate travel and reduced intrastate movement, my purpose in writing this article is to warn, like the town criers of old, that our next stop on the COVID-19 Action Train must be Redesign, not an express ride to SelfCongratulation. This is not over, not by any means! And we cannot allow ourselves to be lulled into a false and dangerous belief that post-lockdown means post-COVID-19. This is the time for all of us – leaders in the public and private sector, private citizens, parents, educators, all thinking and suĜciently educated people – to consider the information we have available about this virus, its behavior and management, and prepare as much as we can for the altered reality ahead of us. Our ONLY chance is to actively change the

following the recommendation of UNESCO's General Conference. "This special day acts as a reminder to governments, of the need to respect their commitment to Press Freedom. Besides, it also provides an opportunity for media professionals to reflect on, and renew their commitment to the best practices that promote professionalism, ethical reporting and public-spirited advocacy. "Journalists across the world have had to face daunting challenges and dangers in the discharge of their duties with some having to pay the supreme price, while others have been harassed and jailed. "For instance, the Press Emblem Campaign (PEC), a non-governmental organisation, says

55 journalists across 23 countries have died from COVID-19 infection between March and April, 2020. This is aside the six journalists killed by state actors this year alone across the globe, and about 250 more languishing in different prisons and detention centres. "The body of editors therefore, demands the immediate release of all detained journalists in Nigeria and all over the world". It advised journalists to adhere to the COVID-19 preventive measures stipulated by the World Health Organisation (WHO) In addition to observing these protocols and use their various media platforms to enlighten the publics on the need to observe these protocols and any other precautionary measures.

ways in which we live and work, to reduce the spread of this disease. The rest of the world has its hands full; nobody is leaving their own country to come and save us. I had wriĴen early last year about the 12 Giant Evils that plague our country. In COVID-19, a powerful cocktail of those – Disease, Squalor, Want and Ignorance – is what we are up against. Itwill likely proliferate the already-present evil of Idleness,and spill over into every aspect of our lives, if those who are, by fortune, not already Nigeria’s victims, do not act NOW to bridge the gap. Just as the private sector and private individuals acted swiftly to ensure that emergency facilities were putup, we must continue to act jointly and decisively - hand in hand with government (ahead of government, even) and with one another - to steer our COVID-19 Action train to a desirable destination. I have heard manytalk about hoping/praying for the best, and preparing for the worst. We need to go further,and take proactive and extraordinary steps toRedesign our lives and economy for the best because, honestly, the worst will decimate Nigeria. We must do what we can to avert it; it simply cannot be planned for. We must review the facilities and supplies we have acquired thus far,and start to move from emergency interventions to sustainable ones. We ought to apply the monies received from the EU, and IMF for COVID-19 interventions, to implementing a near to medium term healthcare overhaul. Temporary structures need to give way to permanent treatment facilities, with protocols that can be stepped up or down depending on what disease we are managing. Reinventing the wheel is unnecessary; we can start with re-tooling the teaching hospitals. We need to purchase equipment - ventilators are the most talked about -but we also need life support systems, telemedicine facilities to facilitate knowledge sharing. We live in the tropics. COVID-19 or not, we need more infectious disease treatment capabilities. We must not take our eyes oě lassa fever, cholera, and the other diseases that were with us before COVID-19 came along, because they have not gone away. We need to train and adequately incentivise our health workers, and we need to bring a level of health awareness to our population. All of these things can be fast-tracked, not by building new white elephant healthcare projects, but by judiciously applying our limited resources to making whole the abandoned or incomplete facilities located in high-density areas where they will be utilized, COVID-19 or not. We can continue to upgrade the knowledge of hospital staě, and teach them to recognize disease presentation. We can inject funding into the pharmaceutical and medical equipment industries and start to produce more frequently used drugs/items locally. God knows, we need the jobs, Beyond healthcare infrastructure and supplies, we need to ensure that we are able to prioritise steady power to hospitals and these healthcare manufacturers, particularly during healthcare crises. We must have state and national health emergency protocols and triggers. We must plan for the possibility of another, maybe more than one, lockdown. We must keep the conversation with citizens going, so that they are carried along and cooperative, if we need to return to sheltering in place down the line. We must let them know that their behaviour as we return to daytime activity will determine whether or not we can continue to service the economy, and live. We must learn lessons from this ęrst ęredrill and avert, not prepare for worse. Ideally, we should have a healthcare reform budget and implementation tracker, alongside our COVID-19 tracker – in plain sight, for all to see. It would be best if we could account for funds received and utilized sums, openly and transparently. It would be great if the public could see in real time, what the designated projects are, and cheer along as they are completed. It would be good if the private sector can see what can be done to bridge funding gaps through cash and in-kind donations. We are told that the funds received in the ęrst round of COVID -19donations will be eligible for tax credits. It would be good if a Healthcare Infrastructure and Refurbishment Investment Tax Credit Scheme could be considered, as an extension of this. But let’s not let the best become the enemy of the good. It would be suĜcient if we started simply by upgrading a few of the teaching hospitals and taking over their uncompleted projects.

While Healthcare reform addressestreatment,prevention is beÄ´er, and it is a communal responsibility. We must take what we know about how the disease spreads, and modify the way we live with and in spite of it. Communication campaigns, as fervent as those we see during elections, and as star-studded as the ones we have seen in the last few weeks,are required now for an even nobler purpose. We must help everyday people understand that each of us holds the other’s health in our hands. We have told employers that work can resume, we must also provide clear industry guidelines on how that work should proceed. The guidelines must be practical and pragmatic. They cannot crush the cost structures of the businesses they are designed to protect, but they cannot be so discretionary, that business-owners’ short-cuts lead to workplace outbreaks. We have asked citizens to mask up, we must tell them the masks need to be washed daily, or risk the onslaught of other diseases. We will eventually ask children to return to school; how will we manage disease spread in already crowded classrooms. Masks are uncomfortable, how do we get children to keep them on? What will we do about our dirty cash problem, that was here long before COVID-19? What will our “merrymaking nationâ€? lives look like without parties? How will we ensure that they don’t move indoors, go “underground,â€? and crowd homes rather than event centers? We must also come to terms with some of the deeper implications of this “redesignedâ€? life. Other than large corporates, most businesses cannot aÄ›ord to pay staÄ› when they are not earning money. Many will not survive. In some cases, the month-long shutdown has already sealed their fates, others will limp along for a liÄ´le while longer. For traders, dependent on regular aviation traÄœc to receive goods, their supply chains, lead time, buying costs, everything, will shift. Others have business models that simply cannot survive a “mask and distanceâ€? or curfew regime – restaurants, bars, hotels. What will happen to them? What happens to our event centers: will they be re-purposed and converted to other uses? What about the entire economy that is built around our merry-making: catering, cakes, clothing, makeup, musicians, photography, money-changers, parking “aÄ´endantsâ€?, what adjustments will they need to make? Are these restrictions here to stay? We must assume that they are, and prepare our people for signiÄ™cant disruptions and adjustments. Because human behavior is elastic, the Ä™rst hurdle ahead will be geÄ´ing people to recognize and heed the need to shift. We can expect that people will Ä™rst aÄ´empt to return to the status quo ante, or some variant thereof, and only retreat if they are unsuccessful or suÄ›er harm. We can shrug; afterall, the problems will touch everyone. Why should some of us take Panadol for everybody’s headache? The answer is “because we canâ€?. Because we can put these newly unemployed people to work in a redesigned economy. Because we can invest in local production, and decrease our dependency on imports. Because we can do the unfashionable thing and Ä™nally shut our doors to anything but progress, without looking like fascists. Because we can Ä™nd and weave together the silver linings in this haze of dark clouds into the fabric of a new society. Because we can ride the COVID Action Train to a diÄ›erent, beÄ´er Nigeria. Because portfolio investors parading as FDI will Äšee, but if we, the owners of the economy, do the right things now, a path can be created towards welcoming real growth capital when the world is restored. And, frankly, because the alternative will engulf us all. Because if working parents lose their livelihoods, children will be pulled out of school, and ignorance will increase. Because this delicate balance of lives vs. livelihoods can only be managed if those who can join hands to create safe livelihoods for those whose ability to eek out an existence must be sacriÄ™ced for us all to live. Because hungry people will eventually take to the streets (the threat of this was palpable over the course of this lockdown), when opportunities to make an honest living suddenly disappeared. And because, in the new “balaclava nationâ€? that we will occupy when we all “mask up,â€? faces will be obscured and only eyes – desperate eyes – will be last thing we see before the curtains fall. God forbid we let it come to that. ČŠ Â˜Â•ÂŠČą Â?ÂŽÂ˜Â•ÂŠÇ°Čą Dzȹ –—’ǯȹ ‘Š’›–Š—ǰȹ Čą ˜ž—Â?ŠÂ?Â’Â˜Â—Čą ˜˜›Â?’—ŠÂ?Â˜Â›Ç°Čą Čą ‘’•Š—Â?Â‘Â›Â˜Â™Â˘Čą ˜Š•’Â?Â’Â˜Â—ČąÂ?Â˜Â›Čą ČŹĹ—Ĺ&#x;ÇŻ

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NEWS XTRA PRESIDENTIAL TASK FORCE LINKS KANO DEATHS TO COVID-19 happy about the clinical trials of the drug because it could be used for emergency treatment of the virus. He stated that NCDC would discuss with regulatory authorities, particularly the National Agency for Food, Drug Administration and Control (NAFDAC), to speed up the regulatory process for Nigerians to access the drugs. He said: “Remdesivir is the first drug that has shown efficacy. It was tried and it did produce benefits. This one has raised hope. We have to be careful about drugs because many of them have side effects, but I am happy that the clinical trial of Remdesivir is showing a positive result. “What we now need to do is to gain access to these drugs. It is a difficult process at the moment but we have started the conversation to enable access to Nigerians. We will speak with NAFDAC to speed up the regulatory process so that we can make these drugs available and accessible to Nigerians. So, it is the first step. That is how science works. "Sometimes, it is slower than we want it to be and we will like it to be. It is the same for vaccines and the same for drugs.� Also commenting on the use of Hydroxychloroquine to treat patients, he said there was no evidence that the drug was effective in treating COVID-19 patients. Reacting to criticisms that South Africa and Ghana with smaller populations have carried out more tests than Nigeria, the NCDC boss said Nigeria could not adopt Ghana’s method because it did not suit the country’s circumstances. “It is not right for us to adopt Ghana’s style because it does not suit our circumstances. It has a price to pay. There is a price to pay for being at top speed,� he added. On the situation in South Africa, he said he had worked in that country for three years before relocating to Nigeria and he knew what South Africa had invested in the past 50 years.

He stated that Nigeria’s target was to carry out two million tests in the next three months. According to him, NCDC has been building testing capacity daily. Speaking on the reported breakthrough with herbal cure in Madagascar, Ihekweazu said he did not have the details of the breakthrough and would not recommend such an herbal cure. “I do think there is a role for traditional medicine but I need to understand what works and what does not work before recommending for anyone to use. In my position, I have to be careful what I recommend because it is not a personal opinion but an institutional position,� he added. Also commenting on Nigeria’s efforts to get a vaccine for the pandemic, he described vaccine development for new disease as a long term venture, adding that Nigeria is “part of a global solidarity trial.� “We are part of the global efforts in different research objectives. They are long term objectives,� he said. Speaking on the Infectious Diseases Bill before the House of Representatives, Ihekweazu said such a bill was long overdue but it should not be enacted in the middle of a crisis. “The middle of a crisis is not the best time to enact a bill. Public health is very broad and is largely implemented by states and local governments. So, there is a need for broader consultation. We were not part of the consultation,� he added. Cloth Masks Can Offer 80% Protection, Says US Study A new study has revealed that masks made from a combination of different fabrics such as cotton, silk, chiffon, flannel can provide 80 per cent protection against infections. The new study obtained by an online newspaper, TheCable, shows that type of fabric and its arrangement can help improve protection against viruses,

MY DADDY, MY BEST FRIEND

I was always in awe of his intellect, his moral compass, his sense of integrity, his dedication to duty, and his honesty. My dad was a walking encyclopedia and a thesaurus. Countless times I would say to people in the middle of debates: “Hold on let me call my dad, he would know�. And I would conędently put him on the speakerphone because HE ALWAYS KNEW. My dad’s aĴention to detail was next to none. I would often read texts and emails to him twice or three times over before sending them because he would ęrst respond with corrections to any typographical or grammatical errors before responding to the actual message itself. I have always seen myself as an extension of my father. I was his right-hand man (yes! I said man because my father raised me just as he would have if I was a man). I was the person he called when he was angry at someone, I was his PA and his friend, and he was my everything. Most of my life, just by how much I looked like him, people would see me in random places and ask if I was Abba Kyari’s daughter. As a liĴle girl I hated it so much. I saw my mum as the most beautiful woman in the world and I desperately wanted to look like her and not him. Now, as much as I have many of her excellent aĴributes, I could not be more proud to look like my dad. In spite of my dad’s busy schedule while we were growing up, he always tried to make time for family holidays. He would pick a new country for us to visit every year and even if he could only join us for just a few days, he would make sure he was there. He literally showed us the world. His favourite place to visit was

the Maldives where he went with my mum for a week annually for six years. Just 10 days before they were to take their annual trip to the Maldives in 2015, he was appointed as Chief of StaÄ› to the President. He kept postponing the trip and was never able to Ä™nd the time. His time was no longer his. My siblings and I often asked my dad what he planned to do when he was no longer Chief of StaÄ› and without hesitation, he would say: “I’m going to Bora Bora with a suitcase full of books.â€? He really looked forward to that. We would often try to convince him to take a two-week break from work and just go to Bora Bora and not wait until he was no longer Chief of StaÄ› but we were never successful, and he never took the trip. They say Bora Bora is paradise on earth. Daddy, Insha Allah you are now in the most genuine of paradises! My dad was Ä™rst-class material. He had a Sociology degree from the University of Warwick and a Law Degree and Masters from the University of Cambridge. He later aÄ´ended International Institute For Management Development in Lausanne, SwiÄľerland and Harvard Business School’s Program for Leadership Development but he didn’t Äšaunt them as many others do. He began his career as a journalist before moving on to a career in banking where he reached the top as the MD/ CEO of United Bank For Africa (UBA). He was a thoroughbred professional and gave his best at whatever he engaged in. Most people don’t know that he had retired for ten years before taking up his appointment as Chief of StaÄ› to the President. He saw

including the novel coronavirus. The research team in America’s Argonne National Laboratory found that cotton, natural silk, and chiffon provides above 50 per cent protection against viral particles in aerosols, provided they have a tight weave. Tightly weaved layers of cotton, the most widely used material for cloth masks, “could provide over 79 per cent depending on particle size while a combination of different fabrics such as cotton silk, chiffon, flannel can provide 80 per cent filtration coverage.� The report, titled: “Aerosol Filtration Efficiency of Common Fabrics Used in Respiratory Cloth Masks� has been published by the American Chemical Society. The report added that cotton quilt laced with batting provides the best protection at 96 per cent because of the “fibrous nature of the batting aids in the superior performance at small particle sizes.� Earlier, researchers at Netherland’s National Institute for Public Health and the Environment and Public Health England (PHE) had found that in the event of surgical mask shortage, these masks are better than no mask at all. “Any type of general mask use is likely to decrease viral exposure and infection risk on a population level,� the Netherland report had said.

officials also attended the burial ceremony at Gudu Cemetery, Abuja on April 19 where all guidelines on social distancing were violated. Lagos Discharges 22 More Patients The Lagos State government yesterday announced the discharge of 22 COVID-19 patients while three others died. The state Ministry of Health, via its Twitter handle, @LSMOH, said the state had now recorded a total of 28 COVID-19 deaths and discharged 247 patients who had recovered from the infection. Lagos Issues Guidelines on Easing of Lockdown

alternate days between the hours of 9 am and 3 pm. Markets and stores selling food items will open on Tuesdays, Thursdays and Saturdays, while markets and stores selling all other items, excluding food, will open on Mondays, Wednesdays and Fridays," he stated. According to him, all civil servants on levels 15 and above living in Ogun State should adhere to the order of Ogun State Governor, Prince Dapo Abiodun, restricting their movements within Ogun State till May 9. He said the goal was to enable the state to achieve a balance between the protection of lives and the sustenance of livelihoods. The governor said: "We have been able to take advantage of the lockdown to significantly boost our capacity to contain the threat of this pandemic and to roll out a robust package of palliative measures to you the good people of Lagos State. "We opened new isolation facilities in Oniru and Gbagada, adding 120 beds to our capacity. We also opened a new testing facility at the Lagos State Bio-bank, while also scaling up our active community case search by opening sample collection centres across the state. "The success of our efforts at ramping up testing is the reason why we are seeing an escalation in the number of cases in Lagos State."

The FCT Administration has said the individuals exposed during the burial of the late Chief of Staff to the President, Malam Abba Kyari, have tested negative for COVID-19 and have reunited with their families. The Acting Secretary, Human and Health Services Secretariat, FCTA, Dr. Mohammed Kawu, in a statement yesterday, said tests carried out on the individuals for the virus after their 14 days of isolation all came back negative. Some highly placed government

Lagos State Governor, Mr. Babajide Sanwo-Olu, yesterday issued guidelines on the resumption of movements in the state after the lockdown. Sanwo-Olu said all movements in and out of the state were prohibited, except for people carrying out essential services or transporting essential products such as agro products, petroleum products, relief items, construction materials and registered courier services. "All public servants in the entire Lagos State public service are to remain at home tomorrow, May 4, 2020. "From Tuesday, May 5, 2020, only critical staff on Grade Levels 15 and above, and who have also been specifically adjudged as critical staff by their accounting officers will be expected to go to work," he added. He explained that all frontline workers across all levels are, however, expected to continue working. "In the same vein, all staff of the local government and local council development area offices in the state are expected to remain at home at this time, unless directed by their LGA or LCDA chairmen. "All open markets and stores will be allowed to operate on

The Aliko Dangote Foundation (ADF) has contracted 54Gene, a molecular diagnostics company specialising in research and diagnostics, to immediately set up a 400 test/day capacity laboratory in Kano State. 54Gene is accredited by the NCDC and has already set up laboratories in Lagos and Ogun States. The laboratory, which was inaugurated yesterday in Kano, will start with a testing capacity

it as his patriotic duty. Not many people reach the top of their career in the private sector, take a ten-year break and return at the top of the public sector in one lifetime. He was preĴy fortunate and spectacular. Was he, really? This may sound odd but my beloved daddy couldn’t drive a car! He never learnt how to drive for a day in his entire life. My dad was highly principled: for nearly ęve years as Chief of Staě, he was ęrst to arrive and last to leave the oĜce - seven days a week; and demanded the same from his staě. He had impeccable moral authority and the capacity to always focus on the greater public good over individual gain. Businessmen and politicians have been known to leave his oĜce in shame or tears after having had their bribes refused. He was passionate about protecting poor Nigerians. He would say “any policy that does not beneęt the vast majority of Nigerians - many of whom are poor - should not be considered a policy of government.� For example, when increases in electricity tariěs were suggested, he sat through planning meetings - weekend after weekend - to ensure tariě increases were segregated and that the poorest Nigerians were protected. My dad was terribly misunderstood and arguably mischievously misrepresented. Even his age was never goĴen right from the day he became Chief of staě till the day he died. My dad died at the age of 67. He was often mistaken for the late Brigadier Abba Kyari who was indeed in his 80’s. At this time of mourning, I should be holding things together for my family as I know my dad would expect me to, but I have

instead found myself having to defend his memory against vile and malicious comments that have left me questioning the very humanity that should unite us all in diĜcult times. One of the books I found on his bookshelf by Author Chris Whipple is ‘The Gatekeepers: How the White House Chiefs of Staě Deęne Every Presidency.� Like a huge part of Nigeria’s 1999 constitutional democracy, the concept of the “oĜce of the Chief of Staě to the President,� was also copied from the oĜce of the President of the United States. A central theme of that book is that Chiefs of Staě are mostly never liked for numerous reasons: mainly due to access granted to the President and the lack of it. James A. Baker III, President Ronald Reagan’s long-serving Chief of Staě said: ‘The chief of staě usually walks around with a target painted on his front and on his back. Your job literally is to catch the javelins that are intended for the old man.’ True to that statement, my dad as Chief of Staě was an accomplished javelin catcher. But he was also much more than that. He was also a lightning conductor, bomb-proof and bullet-proof vest combined. For many Nigerians, if waves from the Atlantic Ocean claimed an inch of Victoria Island, they were sent by Abba Kyari or if a child fell oě his bicycle, it was Abba Kyari! My dad was ęercely loyal to his boss and refused to entertain “business as usual.� He wanted to do the right thing. This meant he stepped on the toes of several people and in their ęghtback would smear his name in the media in the hopes that he would be pushed out of their way! Clearly, they had no knowledge

or any understanding of the man. He usually knew exactly from whom the aĴacks came but that never got in his way of pursuing what he considered to be the right path. Like many others, I tried unsuccessfully to get him to respond to the more preposterous and spurious allegations but he never did. He refused to take on the character assassins. The only time he came close to responding was when I got personally aĴacked and he felt the need to defend me. You could aĴack him but not his family! He was ready to ęght! For clarity, my dad was more than capable of defending himself. The reason he didn’t is that it would have distracted him from his primary assignment of serving his principal and by extension, his country. His passion was to help his principal modernise Nigeria’s infrastructure and grow the agricultural sector. In his oĜce, hanging on the wall, are large framed renderings of the Second Niger Bridge, Abuja-Kano and Lagos-Ibadan Expressways; after decades of these projects being under development, he wanted to have them ęnally completed. With the President’s backing, he successfully fought to revive and build 34 existing and new fertiliser blending plants all across Nigeria – except in the northeast, where he was from, due to concerns of urea (a component of fertiliser) being supplied to terrorists to be used as bombs. My dad was a Shuwa-Arab man from Borno State and he saw far beyond religious and tribal divides. Most of his best friends were not even from the Northern part of the country nor were they Muslims. He

FCTA Declares Abba Kyari Body Handlers COVID-19 Negative

Aliko Dangote Foundation Sponsors Test Laboratory in Kano

of 400 tests a day, increasing to 1,000 tests daily by May 10. The laboratory will be set up at Muhammadu Buhari Hospital in Kano, where an isolation centre is currently operational. The President/Chief Executive of Dangote Group, Alhaji Aliko Dangote, said the foundation was supporting the federal government’s COVID-19 containment efforts in Kano State. According to him, the new investment in support of increasing nationwide testing comes in addition to ADF’s support through the Private Sector Coalition Against COVID-19 (CACOVID). “CACOVID is already setting up a 310- bed isolation centre at Sani Abacha Stadium in Kano. We are extending that capacity by another 150 beds at the Abubakar Imam Urology Centre in Kano, which is being converted into an isolation centre now. These two centres will be operational pending the final validation by the infection prevention and control team, which we expect will be completed in the coming days,â€? he said. Dangote pledged the foundation's commitment to reduce the number of lives lost to diseases such as COVID-19, Ebola and other deadly viruses in the state. He said the foundation would not relent in using its investments in health, education and economic empowerment to help lift people out of sickness and poverty. Zamfara Emir Dies While in Isolation The Emir of Kaura-Namoda in Zamfara State, Alhaji Mohammed Asha, died yesterday in isolation. He was said to have died of suspected COVID-19-related complications. The Publicity Secretary for the Control and Prevention of COVID-19 in the state, Mr. Mustafa Jafaru, said the late traditional ruler had been in isolation at Yariman Bakura Specialist Hospital, Gusau. had friends from all parts of the world and from diÄ›erent walks of life. His network was vast and wide; the tributes wriÄ´en since his passing can aÄ´est to that. He always dreamed and truly believed in one Nigeria. In his tribute, President Muhammadu Buhari said “Mallam Abba Kyari was the very best of usâ€? and he truly was. GeoÄ›rey Onyema, one of my dad’s best friends said in his tribute “Nigerians will look back in years to come and see that he was truly the Best Manâ€?. No lies there, he truly was THE BEST MAN! When all is said and done, Daddy has only gone to meet his maker at the appointed time as we all shall. In the last two weeks, people have told me to be strong but it certainly feels like my source of strength is gone. Losing a father is hard, but having it happen on the world stage with everybody having a say and oÄ›ering their opinion(some kind, others not) has been a completely diÄ›erent emotional rollercoaster. But I guess, he didn’t just belong to us his family. He belonged to Nigeria as well. This is something he often apologised for. Now to my dearest daddy, although you have gone the way of all Äšesh ahead of the rest of us, please take this message: Ammui, Nurudeen, Ibrahim, Zainab and I will do everything in our power to live by your example and carry on your legacy for as long as we live. I love you and miss you with every atom of my being. May Allah grant you the highest station in Jannah. ČŠ Â’ÂœÂ‘ÂŠČąÂ’ÂœČąÂ?‘ŽȹŽ•Â?ÂŽÂœÂ?ČąÂŒÂ‘Â’Â•Â?ČąÂ˜Â?ČąÂ?‘Žȹ •ŠÂ?ÂŽČą Š••Š–ȹ ‹‹Šȹ ¢Š›’

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NEWS XTRA

Nasarawa Shuts down Assembly as Pandemic Kills Member Igbawase Ukumba in Lafia Following the killing of a member of the Nasarawa State House of Assembly, Hon. Adamu Suleiman, by COVID-19, the state Governor, Abdullahi Sule, has ordered the shutdown of the Assembly complex. Suleiman was until his death last Thursday, represented Nasarawa Central state constituency. The governor gave the shutdown order at the Presidential Lodge in Lafia during a press briefing, even as he directed all the state

lawmakers to go into quarantine while they await results of their status. Sule also disclosed that the state has recorded nine confirmed cases of the pandemic with one death, adding that 11 of the persons, who had had contact with the index case, have all tested negative. Similarly, the governor also evacuated about 788 Almajiris back to their home states in order to contain the spread of COVID-19 across the state. Consequently, he was at the Government Science School, Lafia,

where he bided the Almajiris a farewell as they were embarking on their journey by buses. Speaking during the farewell visit, the governor said provision has been provided for the feeding of the Almajiris during their journey to their home states. Giving a breakdown of the 788 Almajiris evacuated, the state Commissioner for Women Affairs and Social Development, Hajiya Halima Jabiru, said the Almajiris would be returned to Plateau, Gombe, Kaduna, Taraba and Jigawa States

50 Almajiri from Kano Test Positive in Kaduna Kaduna State Governor, Mallam Nasir Ahmad el-Rufai, has disclosed that repatriated Almajiri children from Kano State account for 50 of the 59 active COVID-19 cases in Kaduna. El-Rufai disclosed this on his accredited Twitter handle yesterday. Kaduna State has 66 confirmed

cases of the virus, according to the Nigeria Centre for Disease Control (NCDC). Giving the details yesterday, Governor El-Rufai posted on Twitter that, “COVID-19 Update: The Kaduna State Ministry of Health this evening confirmed receipt of 16 more positive results, 15 of them

from almajiris. The state has now recorded 50 cases from repatriated almajiris. Active cases have risen to 59.” The state is still under 24hours quarantine, while the Government has since blocked all the major entries into the State to prevent further inter-state travel

Polo Applauds Journalists on Efforts against Fake News Nigeria’s foremost luxury and lifestyle company, Polo Limited, as part of its multi-level intervention in providing succour for segments of the society affected by the COVID-19 lockdown recently visited the press corps of the Lagos State Government. In charting a different path from

the norm of donations so far, the company delegation led by the Managing Director, John Obayuwana and Executive Director, Jennifer Obayuwana visited members of the fourth estate attached to the Governor’s office at the Bagauda Kaltho Press Centre Alausa Ikeja, Lagos.

The Chief Press Secretary to the State Governor Mr Gboyega Akosile welcoming the delegation appreciated the visit and gesture in glowing terms adding that it takes a really thoughtful company to think of donating items to journalists working in a war situation.

Osun Arrests 27 Illegal Miners The Osun State Joint Task Force (JTF), recently inaugurated by Governor Adegboyega Oyetola, has apprehended 27 illegal miners, comprising 17 Chinese nationals and 10 locals, including a local traditional chief (Baale). They were arrested following a coordinated sting operation around Ilesa and Ife axis of the State.

Speaking on the development, the Deputy Chief of Staff to the State Governor, Abdullahi Binuyo, noted that no responsible government will fold its arms and watch its land being degraded by unauthorised persons. He noted that aside the economic leakages, the illegal

miners had also polluted the Osun River with poisonous metals, thereby making it unsafe for human consumption and irrigation. Binuyo was, however, quick to add that apart from ensuring that those arrested are prosecuted, they will also be made to pay compensation.

Anambra Community Asks Senate to Reject Nominee for FCC David-Chyddy Eleke in Awka Some leaders in the Oba community in Idemili South Local Government Area of Anambra State have rejected President Muhammadu Buhari’s appointment of one of their indigenes, Uche Ibeabuchi, as a member of the Federal Character Commission (FCC). Buhari had in a letter to the Senate last Tuesday sought the confirmation of the chairman and 37 members of the FCC.

But the community leaders, including men, women and youth wing, have also petitioned the Senate President, Dr. Ahmad Lawan, requesting that he should stop the proposed confirmation of Ibeabuchi, as they alleged that he was not fit and a proper person to represent the state or the community at the commission. Copies of the petitions sent to the Senate president, which was and signed by the presidents and secretaries of the various groups,

and made available to THISDAY in Awka claimed that the nominee had several allegations hanging on his neck that would impede his performance at the commission. One of the letters from the leadership of Okuzu village in Oba, where Ibeabuchi hails from, which was signed by members of the village traditional council, including Chief Edwin Obiabumuo, Chief Basil Okeke and Chief Obi Anachuna, described the nominee as being high-handed.

Alumni Holds Polls to Elect New Exco Peter Uzoho The Old Boys Association of St John’s Grammar School Ile-Ife, has elected its new executive council using an electronic polls system. The e-polling system used by the association for the election was necessitated by the lockdown and

social restriction put in place by governments to contain the spread of the COVID-19 pandemic. The election which enabled members of the association in over 20 locations in four continents to vote eventually produced Dr Festus Osoba as its president; Olajide Makinde --First Vice President; and Jibola

Awoseyi--Second Vice President. OthersareIkeDiaku--ThirdVicePresident; Prince Debo Adefisan--General Secretary; Obafemi Obadare--Assistant General Secretary; Kehinde Bamigbetan--Publicity Secretary; Temitope Elusogbon--Social Secretary; Taiwo Adedire--Financial Secretary; Olaolu Omifare--Treasurer; and Adedapo Adeyeba--Auditor.

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MONDAY MAY 4, 2020 ˾ T H I S D AY

NEWS

The Economist Ranks Nigeria High on Financial Strength Dike Onwuamaeze The Economist has given Nigeria a favourable ranking in an assessment of the performance of 66 emerging economies in

terms of their respective financial strength. The international weekly magazine rated the countries based on their public debt, foreign debt, cost of borrowing

World Press Freedom Day: Jonathan, Lawan, Others Hail Journalists Deji Elumoye, Alex Enumah, Udora Orizu in Abuja The Goodluck Jonathan Foundation (GJF); Senate President, Dr. Ahmad Lawan; Speaker of House of Representatives, Hon. Femi Gbajabiamila and Attorney General of the Federation and Minister of Justice, Mr. Abubakar Malami, have hailed journalists on the occasion of the World Press Freedom Day, which was observed yesterday. In its message issued by its Communications Officer, Wealth Dickson Ominabo, GJF called on governments and citizens to respect the rights of journalists and ensure their safety as the world marks this year’s world press freedom day. The Foundation in the statement to commemorate the day, stated that journalists play a key role in democratic sustainability and nation-building, therefore

should be treated with dignity and honour by all. “ On World Press Freedom Day 2020, we encourage governments and citizens to appreciate the contributions of journalists to global peace and development, respect their rights and ensure their safety, especially now that they find themselves on the frontlines of battling the novel coronavirus disease,” the statement explained. On his part, Lawan lauded the contribution of Nigerian journalists to struggle for justice in the country. Lawan noted that the day is specially set aside to highlight the heroic contributions of journalists to human struggle for justice, peace and development. According to him, Nigerian journalists in particular should be proud of their frontline roles they play in nation-building and entrenchment of democracy in Nigeria.

and reserve cover. Nigeria, which featured as number 14, was adjudged to be strong in term of public debt; it also got a favourable rating in terms of foreign debt, but a weak rating in terms of cost of borrowing. From the ranking, the country was adjudged to be fine in terms of reserve cover. “Our ranking examines 66 economies across four potential sources of peril. These include public debt, foreign debt (both public and private) and borrowing costs (proxied

where possible by the yield on a government’s dollar bonds). We also calculate their likely foreign payments this year (their current-account deficit plus their foreign debt payments) and compare this with their stock of foreign-exchange reserves. “A country’s rank on each of these indicators is then averaged to determine its overall standing. The strongest countries, such as South Korea and Taiwan, are overqualified for the role of emerging markets. Many bigger economies, including Russia and China, also appear

robust. Most of the countries that score badly across our indicators tend to be small. The bottom 30 account for only 11 per cent of the group’s GDP, and less than a quarter of both its foreign and its public debt. “The ranking also reveals the vast differences in the source and scale of potential weaknesses. Countries like Angola, Bahrain and Iraq have public debt that some reckon will exceed 100 per cent of GDP this year. But about half of the economies we examine have debts below 60 per cent of GDP, the threshold

that euro-zone members are supposed to meet (and which few do),” it noted. According to the Londonbased magazine, Covid-19 hurts emerging economies in at least three ways: by locking down their populations, damaging their export earnings and deterring foreign capital. It noted that even if the pandemic fades in the second half of the year, GDP in developing countries, measured at purchasingpower parity, would be 6.6 per cent smaller in 2020 than the IMF had forecast in October.

INTERNATIONAL SUPPORT...

L-R: European Union’s Political Officer, Mr. Paulo Barrosso; Head of Delegation to the EU in Nigeria, Ambassador Ketil Karlsen; and Delegation’s Head of Cooperation, Mr. Kurt Cornelius, during the distribution of food items and equipment to vulnerable households in Abuja...weekend

Buhari Asks Police to Fish Out IG Kicks as Woman Slaps DCO, Bites Police Officers Killers of Uniport Students Says 27 personnel attacked Omololu Ogunmade in Abuja

President Muhammadu Buhari last night asked the police to fish out all the killers of the three University of Port Harcourt students reportedly murdered by their kidnappers in April. Senior Special Assistant to the President on Media and Publicity, Malam Garba Shehu, in a statement, in Abuja, said the president who noted that the Nigerian Police Anti-Kidnapping Unit had apprehended one of the suspects, also directed the police authorities to search out the remaining suspects and accordingly bring them to justice. He said Buhari also commiserated with families of

the victims, whose remains, he said, were buried in a shallow grave and also condoled with the university authorities and Rivers State Government over the unfortunate incident. The statement added that the president described the tragic episode as “sad and heinous,” regretting that the “evil perpetrators have cut short the prospectively bright journey of these youths.” It further said the president prayed God to comfort all who mourn the young students, and grant their souls eternal rest. Shehu also quoted the president as saying, “this administration will continue to equip the law enforcement and security agencies to bring to an end the evil activities of kidnappers in the country.”

Senate Reverses Self, Resumes Plenary Tuesday Deji Elumoye in Abuja The Senate, which adjourned indefinitely last Tuesday after sitting for one day following the return of the lawmakers from a five-week COVID-19-induced recess, is to resume plenary like the House of Representatives on Tuesday (tomorrow). President of the Senate, Dr. Ahmad Lawan, had last Tuesday adjourned Senate plenary indefinitely after the Red Chamber had sat for over five hours. The Senate, however, reversed its decision at the weekend as it issued a circular directing all Senators to be present at Tuesday plenary scheduled for 10a.m. Clerk of the Senate, Mr. Nelson Ayewoh, in a one-

page undated circular entitled “Resumption of Plenary Session,” informed all Senators of the Federal Republic of Nigeria that the Senate will resume in plenary on Tuesday, May 5, 2020. The circular stated inter alia: “Distinguished Senators are by this notice expected to sit in Plenary on Tuesday, May 5, 2020 at 10a.m. prompt. “Staff and Senators’ aides are to work from home and they will be notified when needed in the office for any special assignment”. The Clerk of the National Assembly, Mohammed SaniOmolori, had last week revealed that the two chambers of the Assembly will only be sitting once a week - every Tuesday until the COVID-19 pandemic abates.

Kingsley Nwezeh in Abuja The Inspector General of Police (IG), Mr. Mohammed Adamu, has commended the Divisional Crime Office II, Eruwa Police Division, Oyo State, ASP Adeyemo Ogunyemi, for his uncommon restraint and professionalism in the face of unprovoked attack as shown in a viral video, where a woman, identified as Kehinde Afolake, was seen assaulting him unchallenged and without retaliation, while he was carrying out the COVID-19 enforcement duties at Gbolagunte, Okeola area of Eruwa, Ibarapa, Oyo State on May 1, 2020.

The Force Public Relations Officer, Deputy Commissioner of Police (DCP) Frank Mba, said the officer, “like a lamb being led to the slaughter, did not fight back but rather, maintained absolute calm, patience and decorum even as the woman rough handled him and slapped him severally”. The said woman also assaulted two female police officers, Inspector Ojola Abiola and Inspector Queen Eguaoje, and bit one of them on May 2, 2020 during an attempt to invite her to the police station for the earlier incident of serious assault on the DCO. Mba said: The Eruwa incident

thus is a classic example of unprovoked, unwarranted and unnecessary attacks faced by police officers in the course of performing their legitimate duties. The IG therefore warns that this trend will no longer be tolerated by the Force. “The IG notes that since the commencement of the COVID-19 enforcement duties, a total of 27 police personnel have suffered series of attacks and assaults from members of the public at different times and different locations. Many of these officers, he reiterates are still in hospitals receiving treatment from the injuries sustained during

such attacks. These include a female police officer, PC Ngozi Nkem, in Agbor, Delta State who was seriously assaulted when a police team was dispersing a group of persons holding a birthday party in clear disobedience to the social restrictions and distancing orders. Apart from the attack on the person of police officers, some of these citizens have equally carried out attacks on police assets and facilities. For example, two police stations and police quarters were attacked and burnt down in Katsina and Abia States while fifteen (15) police vehicles/motorcycles were also damaged.”

NMA strongly reject any salary cut for doctors and other health care workers. “This is because doctors in Kogi State have just been getting along on half salary before now, occasioned by the non-implementation of corrected CONMESS (Consolidated Medical Salary Structure), the new minimum wage of N30,000 and its consequential adjustment, skipping

and relativity, promotion and annual step increment. ”Hence, the average doctor working with the Kogi Civil Service is already at a serious financial disadvantage compared to his or her counterpart working with the Federal Civil Service or other states in the face, where these salary adjustment have been implemented.”

Kogi Doctors Reject Pay Cut Ibrahim Oyewale in Lokoja The Nigerian Medical Association (NMA) Kogi State chapter has rejected the proposed percentage salary payment to its members by the State Government. The state NMA Chairman, Dr. Kabiru Zubair, in a statement, yesterday in Lokoja, said the body strongly rejected any salary cut

for doctors and other healthcare workers (HCWs). It reads: “The attention of the NMA Kogi State chapter has been drawn by her affiliate bodies in the state to the proposed wage cut by the Kogi State Government. “The NMA is not unaware of the ongoing global pandemic of COVID-19 and the consequent economic downturn. But, the

PDP Faults APC’s Assessment of Obasanjo, Atiku’s Tenure Chuks Okocha in Abuja The Peoples Democratic Party (PDP) yesterday tackled the All Progressives Congress (APC) over its attack following the suggestions by former Vice President and PDP’s candidate in the 2019 presidential election, Alhaji Atiku Abubakar, on how to revamp the ailing economy. The PDP said that while it did not want to be distracted by the APC, it cannot keep quiet and

allow those who had reversed all the national gains in a space of five years, to continue to engage in distortions, outright lies and appropriation of projects executed by the PDP to continually spit on the memories of Nigerians. The PDP in a statement by the National Publicity Secretary, Mr. Kola Ologbondiyan said that it is sad that a patriotic and nonpartisan rescue effort by Atiku was met with insults, animus and aspersions by an administration

under which Nigeria is collapsing economically, just because it lacks the required competence and brilliance for modern governance. PDP said that APC government , Nigeria has become the poverty capital of the world; the foreign debts have quadrupled from $7 billion in 2015 to $30 billion today; the once highly rated banking sector is now shedding its workforce; the service sector has collapsed, with the health sector now begging Elon Musk

for medical supplies on Twitter. “This is an administration under which our currency is listed as the fourth worst performing currency on earth, and has been devalued 112 per cent from its 2015 value; a government that is now footing its basic bills via foreign borrowings with corruption festering so much that our agencies had literally become Automated Teller Machine (ATM) for its officials and cabals.

Ëœ ÍźËœ ͺ͸ͺ͸ Ëž T H I S D AY

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MONDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

Oshoala’s Chances of Retaining African Title Threatened As Spanish football authorities mull cancelling season due to Covid-19

Femi Solaja with agency report One of Nigeria’s best football exports and current African Woman Footballer of the Year, Asisat Oshoala’s chances of retaining the CAF crown may suffer a blow following the proposal by Spanish football authorities to cancel the topflight female football season amid the Covid-19 pandemic. The Super Falcons captain and her Femini Barcelona teammates are in comfortable lead on the log and Oshoala with 20 goals tally is the second highest goal scorer of the season so far. According to Catalunya Radio reports yesterday, Barcelona Femeni won’t be proclaimed champions in case the season is cancelled. This would be a complete rip-off as the Catalans have had an amazing season and are leading by nine points with nine matches to go.

Mathematically, secondplaced Atletico Madrid still can win the title ahead of Blaugrana. However, the regional radio station noted that it will amount to injustice if Oshoala and her teammates are denied the chance to retain the trophy considering how they had dominated the rest in the season under consideration. THISDAY noted that Oshoala and the rest of the squad have not lost any match and have won 19 of the encounters and drew just two games. With goals scored and conceded just six goals to have a staggering goal difference of 86 is astonishing. Four-time African best footballer, Oshoala, with 20 goals is only second best to Jennifer Hermoso with 23 to her credit. However, should the Spanish season be declared inconclusive, the decision may rob on the Nigeria’s bragging right for a stake at the African title

Stan Okoye Targets Olympics, 2022 Afrobasket Glory with D’Tigers As one of the senior members of the current D’Tigers set up, Spainbased Stanley Okoye has set his target at a possible podium finish at next year ’s Olympic Games in Tokyo, Japan. The member of the 2015 team that won Nigeria’s first ever Afrobasket title in Tunisia said with the current talents in the team, being one of the best teams in the world is achievable. He revealed that the current bunch of players in the team are determined to take Nigerian basketball to where it truly deserves. “For us, we have always talked about it. We want a medal. We have to look forward to the Olympics. We want to stay on the podium.� Reminiscing on the 2019

FIBA World Cup in China, the Herbalife Gran Canaria of Spain small forward who missed out of the 2019 Afrobasket co-hosted by Tunisia and Senegal believes the team would have done incredibly well if they had advanced from their group. “At the 2019 World Cup, I felt like we had the opportunity if we had gotten out of the group stage, we would have had a decent run to get a medal,� he recalled. Currently ranked 23rd in the world and first in Africa, the 29-year-old is certain that D’Tigers can win their second ever Afrobasket gold. “They know we are the best in Africa, so we have to get gold every time. If we don’t, then we have fallen short,� Okoye concluded.

again since there is no international engagement

so far this year. The African Women Nations

Cup earlier scheduled to be hosted by Nigeria has

also been shifted due to the ongoing pandemic.

Oshoala (left) and teammates celebrating one of their victories before the lockdown in Spain

Ndidi, Iheanacho, Others May Complete Premier League Season in Australia Amid concerns about restarting the season in England, Australia has emerged as a viable solution as the hunt had been on to find a neutral venue as the Covid-19 pandemic continues to ravage United Kingdom. Professional soccer has been suspended since mid-March due to the Covid-19 pandemic which has infected over 182 000 people in the United Kingdom, killing more than 28 000 at the time this article was published. According to Fox Sports, Nigeria’s legions including

Wilfred Ndidi and Kelechi Iheanacho of Leicester City and Alex Iwobi of Everton and the rest of big names in the Premier League could complete their season in Australia. English agent, Gary Williams, has gotten the backing of a Perth senator and is currently in talks with the Australian government and Ministry of Sport regarding the proposal. Several top-flight clubs would reportedly be “happy to oblige� if this becomes a reality, the report added.

Perth has four stadiums Optus Stadium (with 65,000 capacity), Perth Oval (20,500), cricket’s WACA (24,500) and Joondalup Arena (16,000) - could be utilized if this decision goes through. Australia has only had four new cases over the last 10 days, with the government lifting numerous restrictions. In fact, people can now gather in groups of 10 while public beaches have also been opened. This might open an interesting window of opportunity for La

Liga too, who could also try and turn to one of the countries less affected by the novel virus to play the remaining match-days. The Premier League set a goal to resume the season in June, La Liga is also looking for mid-June as a deadline for the football return. At the moment, the priority is to have all the players tested for the coronavirus. The first tests are set to be conducted today for all the players in the topflight.

H E AV Y W E I G H T U N I F I C AT I O N B L O C K B U S T E R

Anthony Joshua vs Tyson Fury Clash Nudging Closer to Reality

A blockbuster showdown between Anthony Joshua and Tyson Fury appears to be nudging closer to reality after talks between the two heavyweight’s management companies officially began. The boxing world is desperate to see the two British stars face off in the ring, following Fury’s dismantling of Deontay Wilder in February.

According to UK’s Sportsmail, both men have expressed a desire to do battle, and now Joshua’s promoter Eddie Hearn has admitted the first steps have been made to secure a mega-fight to be arranged in the aftermath of the coronavirus pandemic. “We’re talking to MTK about where that fight would take place,� Hearn revealed to ESPN. “At the moment, the

main focus for everybody (is) the contractual situations. “The conversations between myself and MTK are that we’ve had the approach. “We’ve had a number of approaches from territories to stage that fight. So the only discussions at the moment are where this fight takes place - and we don’t even know when this fight could take place,’ he added.

Hearn has conceded, however, that a lucrative fight between the pair would be more likely to gather pace quicker next year, given that boxing expects to be short on finances after taking a hit from coronavirus. “We’re certainly open to have discussions about the possibility of this happening this year or in the next fight,� he added.

Italian Govt Gives All-clear for Serie A Clubs to Resume Training Today

Stanley Okoye is aiming for podium ďŹ nish with D’Tigers at the Olympic Games next year in Tokyo, Japan

The Italian government has given the green light for football clubs to return to their training grounds after a number of Serie A sides announced their intention to come back next week. Sassuolo were the first top-flight club in Italy to confirm a return to training before Bologna, Parma and Roma followed suit. The government had originally decreed that athletes in team sports were different from those involved in individual disciplines, such as tennis or athletics, even if their training exercises were identical. This meant the public could

go for a run in local parks from Monday next week but team sports remained banned until May 18. But with some regional assemblies deciding to re-open all sports facilities from Monday rather than waiting until May 18, the government conceded it was pointless to limit some areas while others had the go-ahead. The Serie A clubs and the Italian players’ association successfully argued that it is far safer to train inside a training ground where social distancing can be guaranteedrather than in a local park.

But despite the planned return to training, there are no guarantees the Serie A season will actually restart despite all 20 clubs voting that they wish to complete the 2019-20 campaign. Players have admitted to being sceptical of the decision to return to training and Sportsmail understands there is a 60/40 split as to whether the season should continue or be cancelled. Discussions over the medical protocol for restarting the season will continue this week with a potential resumption in mid-June one option on the table.

Monday May 4, 2020

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Price: N250

MISSILE

Akintola to Makinde “Governor Seyi Makinde has no management team for COVID-19. Until the management team is put in place, I will not release my cheque for COVID-19 donation to the state’s COVID-19 account” –Senior lawyer, Chief Niyi Akintola (SAN), expressing shock that the Oyo State Government has not inaugurated a team to enhance governance in the state.

FOLA ADEOLA GUEST COLUMNIST

All Aboard…! Steering Nigeria’s COVID-19 Action Train

T

he ęrst case of COVID-19 was conęrmed in Nigeria on the 27th of February 2020. Just a liĴle over two months ago and, yet, it feels like a lifetime has elapsed. The world we lived in then, is so much diěerent from the one we are about to be released into, as the lockdown restrictions are lifted. When the lockdown was announced by President Muhammadu Buhari on the 27th of March, there were 65 conęrmed cases in the country and the President’s Chief of Staě had just tested positive for the virus. Today, we have conęrmed over 2000 cases, and many of our beloved fellow citizens (more than 50)are no longer with us, having fallen in the wake of this novel coronavirus. May the souls of the departed rest in peace, and to those of us who remain on the journey of life, may God grant wisdom. We need it, desperately, at this time to navigate the complexities ahead. The month we spent sheltering in place was, without question, challenging;but in our isolation there was an odd sort of togetherness, a shared helplessness with the rest of the world. Literally, everybody was hunkered down, numbering their aĝicted, and counting their dead. The world went from an insignięcant number ofconęrmed cases and an even more insignięcantnumber of COVID-19 deaths on March 27th, to about three and a half

million aĝicted, and about a quarter of a million deathsas at last count. Some countries have had it worse than others. With the US recording over 60,000 deaths, and Italy, Spain and theUK each recording between 25,000 and 30,000 deaths, our own ęfty-something fallen, in a population of almost 200 million, barely registers on the Richter scale of devastation in which the world has become engulfed. But it is not a competition. God knows we are not equipped to deal with what the countries of the West are going through. The sojourn ahead, the path to a “new normal” on the COVID Action Train that each country has been forced to navigate will be less unięed, more particular to each nation’s circumstances and challenges than the shared humanity of sickness and loss. Each nation is tasked withthe burden of its re-emergence. so let us turn our minds to our own COVID Action Train journey. Perhaps a good departure point for us is a review of where we are, as a precursor to where we ought to be headed. When we began this journey in March, we had barely any infrastructure in place for the containment of this virus. But, somehow, with the borders closed and the elite locked in, nobody needed to tell Nigeria’s aĝuent that the country’s ęrst line of defense rested with them. The private sector – corporations, foundations, and

individuals – took the lead. Within a few weeks, isolation centers, ICUs and treatment centers had sprung up in diěerent parts of the country – particularly in Lagos. Over 30 Billion Naira was donated, and additional in-kind contributions of food and healthcare products were and continue to be made. These donations made it possible for government, at the national and subnational levels, to make available cash stipends and “survival packs” to the more vulnerable populations in locked-down states. Everyday citizens, also, extended themselves to feed the disadvantaged in their neighborhoods, and displayed basic human charity. SeĴing aside some of the controversy around the quantum and eĜciency of palliative relief, and the self-protection inherent in some of the charitable giving, it is impossible to deny that Nigerians stepped up. Even those with a penchant for looking gift horses in the mouth, must stop to at least acknowledgethat this one time, with the fates of the rich and the poor “locked in,” Nigerians, particularly the elite, demonstrated a capacity to think beyond themselves that must – even for the most cynical of us - oěer hope, at a time of such global devastation, that when push comes to shove, we will do for ourselves and one another. That maybe, just maybe, our self-loathing is not so entire as to obscure our collective desire to triumph over disease and death. That maybe, just

maybe, the candle of enlightened self interest may have embered,and maybe, just maybe, it can be fanned into a Ěame that will light our path out of the valley of the shadow of COVID-19. Perhapsdz It is probably also worthwhile to examine our COVID statistics and acknowledge a few things. Neither our conęrmed cases, nor the number of recorded deaths is particularly high;not yet. And to those who would argue that the numbers are inaccurate, and cannot form the basis of sound decision making, I can only say that while that is true, the same is probably true of most countries around the world. We have not tested enough. I agree. I am, however, strongly of the view that we cannot and will not, for the foreseeable future, be able to aěord the level of universal testing that would give us tangible path-lighting information. There are, however, more basic indicators, even if imprecise, that we can examine. Our hospitals are not yet overburdened, our emergency COVID-19centers are not at full capacity, our morgues are not spilling over, we are not modifying refrigerated containers to hold the dead, and we are not constrained to dig mass graves. The imagery is stark, and I apologize to those whose sensibilities may still be penetrable, Continued on page 24

AISHA ABBA KYARI GUEST COLUMNIST

My Daddy, My Best Friend O

n 17th April, 2020, my world came crashing down and my heart shaĴered into a billion pieces. Upon receiving the news of my father’s passing, I immediately felt the most excruciating pain - a pain I would not wish on my worst enemy. My biggest fear in the world had materialised. Most people knew my dad as the Chief of Staě to President Muhammadu Buhari. As it is with many public servants, there was much more to him than the signature white kaftan and red cap by which he came to be recognised. He was a most remarkable husband to my mother (HauwaKulu), and father to myself and my three younger siblings (Nurudeen, Ibrahim, and Zainab). Completely irreplaceable. Growing up, my dad doted over us. He was extremely protective and his role in raising us with my mother was as complimentary as it was distinct. His main focus was our education, and my mother’s was etiqueĴe and religion! He was stern, and Ammui (as we call her) was playful. It was a perfect balance. He was always working. My dad reminded us he worked hard so that he could give us all that we needed to excel at whatever we chose to do. And as far as I remember, my siblings and I lacked nothing; we had all we asked and more. That said, the asking part was hard! It often would come with a lecture and many questions as to why we would even ask for things. In the end, we would get what we wanted as long as a compelling case could be made for it. He had a hard exterior but a heart of gold and a quirky sense of humour. He had zero tolerance for mediocrity: A no-nonsense man in every sense of the word. He expected excellence at all times and when it came to time, my father was Swiss-German – for him, arriving on time was arriving late. To this day, my friends always tease me about how and why I get to airport hours before a Ěight. It is what my daddy instilled in me. Daddy’s biggest obsession was education. He truly invested in us the best education. In 1996, I recall as a nine-year-old when he told me that he and I would

Abba Kyari, the family man be leaving for London the next day. He didn’t say why we were going. For the ęrst three days, he took me to three diěerent schools to take entrance exams. I remember being so lost as to why anyone would have to go all the way to England just to take exams. I passed all three and he picked his favourite school of the three. The day my dad dropped me oě at the school dormitory, all the other students and their parents were hugging, smiling, and geĴing seĴled in. My case was diěerent, in true daddy style, he said: “Well Ammi, you are here to study and not play. The rules in this country are diěerent, if you fail a single class test or school exam, they will revoke your visa and send you back to igeria and as you know, I don’t have space for failures in my house.” He then paĴed me on the back and left. As a liĴle girl in a foreign country, I panicked but

also believed him. My mum called the school the next day to check up on me and I cried and told her what he said. It didn’t help maĴers that I hadn’t understood what they taught me in class that day because I couldn’t understand my teachers’ accents. She reassured me that what he said was not true. Thank God for mothers! My dad never missed a single parent-teacher meeting. Even when he had daunting schedules as chief executive of a bank, he would take the ęrst Ěight out of Lagos to arrive in London for those meetings. Upon arrival, he would go to the hall to meet with my teachers. Typical of kids, we would peep into the hall to see which teachers our parents were talking to at the time and whether they looked angry or not. My friends would always ask “Aisha why is your

dad taking notes?” I really had no idea. All I know is that I was always embarrassed. He would come out, take me to a corner and run through his notes and tell me what every teacher said about me and places I needed to improve, and then he would make sure I was okay and happy. He would get in the car and drive straight back to the airport to catch a Ěight back to Lagos. As busy as he was, his family was always his top priority. He made these exact eěorts with my mother and every one of my siblings. That is the kind of man my dad was! Whenever we visited relatives, my dad would call their homes several times a day to ask how we were. Many of them took oěence to that as it suggested that he didn’t trust them with his children but that never stopped him from calling. For as long as I can recall, my dad and I spoke every day of my life until the very end. No maĴer where anyone of us was in the world, we spoke every day. My friends would often tease me after every call: “I can’t get over how often you and your dad speak, you’re such a daddy’s girl”. This was something I heard all my life and I was proud to be my daddy’s girl. Even with his very busy schedule as ȽChief of Staě, he would make sure he came home and have dinner with us and discuss our days even if it meant him going back to the oĜce afterward. On days that he couldn’t make it back on time, he would ALWAYS call and say, “don’t wait for me.” My dad had almost everything that most people yearned for. Professional success, ęnancial security - his needs were basic - and towards the end, political inĚuence albeit nowhere near as much as many Nigerians think. But the true measure of a man particularly in the eyes of God is in his kindness, selĚessness, loyalty, generosity, and humility. And with all these virtues as yardsticks, he truly was immeasurable. Continued on page 26

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