MONDAY 17TH MAY 2021

NNPC Selects 26 Firms to Lift Nigeria’s Crude Oil 12 countries also beneficiaries Emmanuel Addeh in Abuja The Nigerian National Petroleum Corporation (NNPC) has picked 26 foreign and local companies as well

as 12 countries to lift the country's crude oil for the next two years.

The crude term contracts, expected to run from 2021 through 2023, would see the

firms and the selected nations, which would operate on a Government-to-Government (G2G) basis to purchase the commodity from the national oil company.

The deal is coming less than a week after the corporation chose 16 oil and gas consortia for its new crude-for-fuel swap contracts for one year starting in August.

The contracts, known as Direct Sale, Direct Purchase (DSDP) are high-stakes agreements used to supply nearly all of Nigeria's petrol needs as well as cover some

of its diesel and jet fuel consumption.

However, in the fresh crude oil term agreements, it was Continued on page 10

Apapa Traffic Gridlock May Hurt AfCFTA’s Gains, Operators Warn... Page 8 Monday 17 May, 2021 Vol 26. No 9534. Price: N250

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Many Boko Haram Commanders Willing to Surrender, Says Gumi... Page 5

Eight Southern States Set to Enact Anti-Open Grazing Law Ekiti, Abia, Ebonyi, Oyo, Bayelsa face implementation challenges Southern speakers, Ohanaeze back 17 govs’ resolutions Our Reporters Following the resolution of the 17 governors of the Southern states banning open grazing of cattle in the three geopolitical zones in the South, no fewer than eight states are now set to enact anti-open grazing law to give legislative backing to the governors’ pronouncement, THISDAY’s investigation has

revealed.

Some of these states include: Akwa Ibom, Ondo, Enugu, Edo, Imo, Ogun, Delta and Anambra, This is coming as the apex Igbo sociopolitical organisation, Ohanaeze Ndigbo and the southern states’ legislatures have declared their support Continued on page 10

Averting Third Wave of COVID-19 Beyond Travel Advisory, NMA, Tomori Tell FG Onyebuchi Ezigbo in Abuja As Nigeria grapples with the challenge of a looming threat of third wave of COVID-19 hitting the country, the Nigerian Medical Association (NMA) and a renowned professor of Virology and infectious disease control, Prof.

Olawale Tomori, have cautioned the federal government not to allow

complacency to stall measures being taken to check the outbreak of a third wave of COVID-19 pandemic, stressing that averting the scourge goes beyond just issuing travel advisory.

They noted that the most important steps would be the enforcement and implementation of the Continued on page 16

HOMAGE TO THE GOVERNOR...

Emir of Bichi, Alhaji Nasiru Ado Bayero (left), and Kano State Governor, Dr. Abdullahi Ganduje, during the emir’s visit to the governor in Kano…yesterday

Clark Cautions against Agitation for Nigeria’s Break-up...Page 5

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Group News Editor Ejiofor Alike Email Ejiofor.Alike@thisdaylive.com, 08066066268

Clark Cautions against Agitation for Nigeria’s Break-up

Chuks Okocha in Abuja An elder statesman and former Minister of Information, Chief Edwin Clark, has cautioned against calls for secession in some parts of the country.

Clark told journalists in Abuja yesterday that the calls for secession in some quarters are not the solution to the country’s problems.

The South-south leader explained that he did not believe in Nigeria’s break-up in spite of rising insecurity and economic challenges in the country.

Clark argued that instead of breaking up Nigeria and beating war drums, efforts should be made to develop workable strategies to solve the problem of insecurity and other challenges making lives unbearable for Nigerians.

“Nigeria will remain one.

Some of us do not believe in the call for secession. Where do we go to? Who are we leaving the country for? Who owns it?

“We cannot flee? Where do we go? Though I am seeing this danger but I do not believe that Nigeria will split.

“Recently 17 Southern governors met and they also agreed that Nigeria will remain one. They are not just PDP but also APC governors.

“Even during the civil war in 1967, we never believed Nigeria would break up and the war eventually ended in 1970.

“That was the nearest we got to breaking up but Nigeria did not break up,” he said.

The elder statesman called for restructuring rather than call for break-up.

He referred to reports of the 2014 National Conference

and the committee headed

by Kaduna State Governor, Malam Nasir el-Rufai, saying the recommendations would go a long way.

“All we are saying is that we should restructure the country.

Let us devolve power to the states. They should be the federating units.

“We should refer to the 2014 National Conference report of over 600 recommendations. We do not need to convoke another confab.

“The confab report in addition to what APC produced under Governor Nasir El-rufai’s Committee is enough to create a true federal system of government in Nigeria,” he added.

Clark stressed that unless Nigeria returned to a federal system of government, as obtained in 1963, the restructuring process would not be complete.

“Let us have a federal system of government as we had in 1963. Once that is done, there will be peace in Nigeria. With that, every region will have a State Police.

“So, the only cure to the problem of insecurity in Nigeria is to return to the 1963 Constitution with a few amendments.”

He further said, “I have been in politics for about 70 years in this country and I have seen it all.

“In 1960, there was the Independent Constitution, drawn up in Britain by the Whites and Nigerians.

“They agreed that this country has more than 250 ethnic nationalities, therefore a unitary form of government

will not work and that there should be a federation which we had.

“The 1960 constitution made it that every region had its own constitution and develop at its own pace and keep half of what is developed in their area.

“That was why Obafemi Awolowo was able to develop the West because we had the cocoa boom at the time. The price of cocoa was very high in the international market.

“So, he was able to introduce

free primary education which other regions could not do at the time.”

He blamed the military for the present economic and security challenges faced by Nigerians, saying the military changed into a unitary form of government.

“Aguiyi Ironsi changed this country into a unitary government.

“It continued until the Army handed over in 1999 and they left behind a unitary form of

constitution.

“That is why we are facing so many problems as a nation and that is why we are calling for restructuring,” he said.

On attacks on schools, Clark called for provision of security in and around schools through the building of fences and adequate surveillance.

He said that it might not be possible to guard all schools with the few number of security men in the country.

He advised that vigilantes

could be employed to provide the Police with necessary information in the case of attempted attacks.

He, however, kicked against mounting surveillance cameras in schools, saying, “it will not work unless the people are ready to prevent kidnapping and other forms of attacks in schools. “Even if we mount CCTVs they will be compromised as has happened on different occasions in some parts of the country,” he added.

FIFTY HEARTY CHEERS...

L-R: Former President Goodluck Jonathan; the celebrant, Pastor Charles Osazuwa; his wife, Deborah; and Delta State Governor, Senator Ifeanyi Okowa, during Osazuwa’s 50th birthday thanksgiving service in Benin City...yesterday

Many Boko Haram Commanders Willing to Surrender, Says Gumi John Shiklam in Kaduna Kaduna-based Islamic cleric, Sheikh Ahmad Gumi, has revealed that several Boko Haram commanders are willing to surrender and urged the federal government to use proper engagement to negotiate with the group.

Gumi, who spoke to ARISE NEWS Channel, the broadcast arm of THISDAY Newspapers, in Kaduna yesterday after hosting the released students of the Federal College of Forestry Mechanisation, Afaka, Kaduna also reiterated his call on the government to negotiate with bandits.

The cleric noted that information at his disposal revealed that many Boko Haram commanders were willing to surrender and be integrated into society.

He further disclosed that the bandits were also putting pressure on him to assist them with amnesty.

“But with Boko Haram - although we have reliable information from some contacts too that many of their commanders want to surrender; So, I think that with serious

engagement and government involvement in these issues on a serious note, I think we will overcome. You see, in Nigeria, we are a tribal society. So, every group has elders that they listen to,” Gumi explained.

Gumi also disclosed that he had reached out to 80 per cent of the bandits’ leaders and they were willing to surrender, adding that the remaining 20 per cent were the ones still causing havoc.

He also argued that the government should engage the bandits and provide them with schools and amnesty so that they could live a normal life.

According to him, the bandits are not more than 100,000, adding that government should be able to provide for their needs.

The cleric revealed that the bandits that kidnapped the Kaduna Greenfield University students have also suspended their initial plan to kill the students and expressed the hope that they will also regain their freedom.

On whether ransom was paid for the release of the school of forestry students, Gumi said his team did not

pay any ransom.

He, however, added that some parents, who were impatient, went behind his team to tell the bandits that they were willing to pay.

Gumi pointed out that he did not know if those parents paid ransom or not.

Reacting to the issue of whether the students were molested sexually or not, Gumi disclosed that a notorious bandit who wanted to take away a female student to unknown location to molest her was killed by his colleagues to prove the point that they were not irresponsible but were just agitating for better welfare.

According to him, the bandits are different from the Indigenous People of Biafra (IPOB) and the other groups agitating in the South because they believe in the government of Nigeria and other constituted authorities.

Speaking earlier at the reception he held for the released Afaka students, Gumi asked them to put the ugly past behind them and pursue their education.

“My appeal to government is to engage with the bandits so

that the bandits can abandon their ways.

“They are already showing signs that they are ready. They have grievances, which I think if we come together we can cure this menace in a very short time,” he said.

He called for the cooperation of governments at all levels to resolve the security challenges.

“We want the cooperation of federal, state and local governments; the clergy and other well-meaning Nigerians should all come together to sit down and talk,” he said.

Asked how he secured the release of the students, Gumi said: “You don't negotiate with your friend, you negotiate with your enemy. The first thing you do is to try and break the ice and break the barrier between you and the person you are negotiating with and also build confidence by demonstrating that you are not going to cheat them or deceive them.

“If there is that level of communication, then negotiation comes in the third phase.

“These are people who have been involved in this kind of criminality for a long time, we

have to use psychology on them because it is not possible over night to just consent.

“But preaching to them, admonishing them and showing them the way out of their problems helped a lot in getting them to understand and release these children.”

Also in his remarks former President Olusegun Obasanjo, who was represented by Mr. Vitalis Ortese, congratulated everyone for making it possible for the release of the students and expressed the hope that “this will lead to the release of other persons in captivity.”

Speaking on behalf of the parents, Mr. Friday Sani, expressed gratitude to Gumi and Obasanjo for their roles in ensuring the release of the students.

He said: “We are here to appreciate the emancipating team led by Sheikh Gumi. He stood by us to the end. We are happy that our children are back to us.

“The leaders of tomorrow who will make this country proud. We want to give God the glory for what He has done for us.

“We are praying that God

will help them to overcome the trauma they went through.

“Some of us have been going in and out of hospitals for them to receive proper treatment.

“We need the support of the government to rehabilitate these children so that they will be fit enough to return to school.

Today is a happy day for us.”

Meanwhile, the parents have dismissed speculations that the students were sexually molested while in captivity.

In a statement on Sunday in Kaduna, spokesman of the parents, Mr. Abdullahi Usman, said the speculations being circulated online that the students were sexually molested is not true.

Usman said while the parents were basking in the joy of having reunited with their children who were released unharmed.

“On behalf of the parents, we wish to set the records straight and hope that this will end the circulation of the fabrication of the stories. We state in unequivocal terms that none of the 37 kidnapped (now freed) Afaka students were sexually or homosexually molested by the bandits,” he said.

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Apapa Traffic Gridlock May Hurt AfCFTA’s Gains, Operators Warn Dike Onwuamaeze Some members of the organised private sector (OPS) have decried the lack of political will to address the perennial traffic congestion around the Apapa ports, saying the gridlock could hurt the expected gains from the African Continental Free Trade Area (AfCFTA) agreement.

Speaking in separate interviews with THISDAY, they stressed that the challenges associated with moving cargoes in and outside the ports could defeat the federal government’s desire to diversify the economy and affect the expected benefits from Nigeria’s participation in the AfCFTA agreement.

Traffic has worsened in Apapa and its environs in the past few weeks following the disruption of the electronic call-up system (ETO) introduced about two months ago by the Nigerian Ports Authority (NPA) with the support of the Lagos State Government to ensure free flow of vehicular movements.

THISDAY’s investigation had revealed that security agents, who were said to have frustrated all efforts to restore sanity to the port city, were cashing in on the situation to extort articulated vehicles’ drivers.

Even the efforts of a presidential task team failed.

But the Director-General of the Lagos Chamber of Commerce and Industry (LCCI), Dr. Muda Yusuf, told THISDAY yesterday that, “if the Apapa traffic gridlock continues, our international trade process stands the risk of being completely paralysed.

“The Apapa corridor accounts for an estimated 70 per cent of international merchandise trade- imports and exports. Therefore, this portends disturbing signals for the outlook for Nigeria's participation in the AFCFTA. It is impossible to undertake any meaningful trade without an efficient maritime logistics chain.”

The LCCI added that

the burdensome processes and traffic jam at the Apapa ports have continued to stifle productivity of the real sector of the economy and have, “worsened the plight of many importers, exporters, traders, and manufacturer, as movement in and out of the ports remain a challenge and escalating haulage fees.”

Speaking in the same vein, the Director General of the Nigeria-America Chamber of Commerce (NACC), Mr. Sola Obadimu, told THISDAY that the economic effects of the traffic gridlock in Apapa axis is multi-dimensional and wondered why “there is no political will to confront it.”

Obadimu stated that Nigeria’s participation in the AfCFTA would not make sense if the country could not ensure effective port processes and services for export of its manufactured goods at efficient cost.

He said: “Nigeria can never be competitive under the AfCFTA by having its functioning ports in Lagos alone. The question is why struggle with the ports in Lagos when we have a coast line that stretches from Badagry to Calabar and could have developed at least five standard ports that can take any vessel if they are well dredged.

“The basic principle is that we need to earn foreign exchange by exporting more.

But with the situation as it is, the country will be losing opportunity to earn foreign exchange and by so doing the Naira will be losing value; inflation will be going up and the economy will be crumbling. Moreover, the intention to diversify the economy will remain a lip service.”

The Director General of the Nigeria Employers' Consultative Association (NECA), Mr. Timothy Olawale, also told THISDAY that the telling consequences of the Apapa traffic gridlock on businesses could only be imagined, especially for those involved in the importation of sensitive raw materials for manufacture of finished products.

Olawale said: “We note that when these goods and raw materials are finally retrieved, they may have been destroyed due to temperature excursions and assuming that they are not destroyed, the long exposure to the elements raised serious quality challenges on those imported raw materials and finished products.”

He urged government to give the problem the serious attention it deserved, adding that the initial euphoria that greeted the introduction of the e-call-up system to solve the logjam quickly fizzled out and the gridlock appeared to be worsening by the day.

The NECA urged government “to consider train services within Apapa axis and from Apapa to other parts of the country because of its positive economic implications.”

Speaking in the same vein, the Director General

of the Nigerian Economic Summit Group (NESG), Mr. Laoye Jaiyesola, stated that as long as the Apapa traffic jam remained, Nigerian made goods would never be competitive in both the domestic and foreign markets.

Jaiyesola said: “For us we have been pleading that it should be resolved. It is very sad that it has remained the way it is and in fact has gotten worse. We never had it so bad.

“But the solution is to develop other ports. Apart from Lagos there is Onne Port, there is Warri Port.

Why will these ports not become operational so that Lagos would be decongested?

Secondly, what is holding back linking these ports with rail services?”

For the Director General of Institute of Directors (IoD) Nigeria, Mr. Dele Alani, the gridlock at Apapa seemed

to be a problem that has defied all solutions that were proffered by previous and current administrations.

Alani said: “What is not in doubt is that the gridlock in Apapa has adversely affected businesses.

Incidentally, for an import dependent economy like Nigeria, the effect of the Apapa gridlock is felt by virtually all sectors of the economy.”

He called for the identification of the root causes of the problem to avoid proffering and applying cosmetic solutions and suggested the resuscitation of ports located outside Lagos State as the most effective solution.

Similarly, The Director General of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Ambassador Ayo Olukanni, noted that “the impact of current

situation on the economy is crippling. And as the voice of business in Nigeria, we call on governments to find an enduring solution to this problem because of its negative impact on the economy,” adding that “it is sad that government allowed the traffic gridlock in Apapa area to last this long.”

Olukanni proposed regular roundtable by heads of freight forwarders, maritime transport union, customs and Federal Road Safety Commission to discuss issues as they arise and ensure that truck drivers obey the laws.

He also requested that the rail system, which is now coming up, should be expedited to help in moving cargo in and out of ports and that trucks without the Terminal Delivery Order should not be allowed into the port while “other sea ports in the country should be utilised,” he said.

FIGHT AGAINST CANCER...

L-R: Managing Director, Marcelle Ruth Cancer Centre and Specialist Hospital, Dr. Modupe Elebute-Odunsi; Chairman, Nigerians in Diaspora Commission, Hon. Abike Dabiri-Erewa; and member, Lagos State Health Service Commission, Mrs. Kemi Ogunyemi, during a visit by Dabiri-Erewa to the hospital in Lagos...recently

PDP Govs Meet in Ibadan Today over Insecurity Chuks Okocha in Ibadan The governors elected on the platform of the Peoples Democratic Party (PDP) will today meet in Ibadan, Oyo State capital to further discuss the worsening state of insecurity in Nigeria.

THISDAY also gathered that the PDP governors will further discuss and revalidate the communique of the 17 southern governors that met last week in Asaba, Delta State where they banned open grazing and called for the restructuring of the country.

Apart from the sliding security in the country, the

PDP governors will also discuss the forthcoming national convention of the party slated for November or December this year.

According to a party source, who spoke to THISDAY, the meeting of the governors of the PDP will further reinforce the communique of the 17 southern governors.

“The meeting of the 17 southern states governors, which was bi-partisan will be reviewed and adopted by the PDP governors.

"It is not only in the southern part of Nigeria that there is worsening state of insecurity. There are several

issues of insecurity as it affect some PDP states like Sokoto, Zamfara, Benue , Taraba, Adamawa and other states.

"The meeting will deliberate on these issues of insecurity and affirm and revalidate the communique of the 17 southern governors," the source stated.

The source added that the governors were worried that "the ravaging issues of insecurity in Benue State is gradually getting out of hand."

The PDP governors, it was learnt, will also reaffirm that the party “remains committed to the unity of Nigeria on the basis of justice, fairness,

equity and oneness and peaceful co-existence between and among its peoples with a focus on the attainment of shared goals for economic development and prosperity.”

According to the source, the PDP governors will reaffirm that they are against incursion of armed herders, criminals, and bandits into Nigeria and stress that it has presented a severe security challenge such that citizens are no longer able to live their normal lives.

THISDAY gathered that apart from the issue of insecurity as it affects Nigeria, the PDP governors will discuss how to stabilise

the party as the national convention draws nearer.

According to the source, "the wards, local governments, zonal and states' congresses have been concluded, except in the North-west zone. The governors will look at issues that stalled election of the north-west zonal congress in Kaduna”.

"With the completion of these wards to states and zonal congresses, we will look at the way forward.

We don't sit down and wait till the national convention is at hand before discussing it. Now is the time,” the source added.

The Director General of the PDP Governors Forum, Hon. Cyril Maduabum also confirmed the meeting in a statement.

"The meeting will be presided over by the Forum Chairman, Hon Aminu Waziri Tambuwal and attended by all 15 governors elected on the platform of the PDP. "The meeting will further review the current State of the nation especially issues of national security and the economy, and also fine-tune strategies to support PDP as a viable and necessary alternative to the disastrous APC administration,” the statement explained.

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PAGE TEN EIGHT SOUTHERN STATES SET TO ENACT ANTI-OPEN GRAZING LAW for the resolutions of the 17 southern governors on open grazing and restructuring.

THISDAY, however, gathered that states that already have the anti-open grazing law in place are facing challenges of implementation due to lack of commitment of the Police to enforce the law.

The affected states include: Ekiti, Abia, Ebonyi, Oyo and Bayelsa.

In Ekiti State, the antigrazing law was passed under the acronym : "Prohibition of Cattle and Other Ruminants Grazing Law 2016".

But the Speaker of the State House of Assembly, Hon. Funminiyi Afuye, told THISDAY that the federal government's recalcitrant posture on the creation of State police was stalling the enforcement of the state's Anti-Open Grazing Law. Afuye said the law, passed in 2016 under the former Governor Ayodele Fayose, with the present Kayode Fayemi-led government strengthening the law further, could have been better implemented, but for unitary nature of the Nigerian Police.

Afuye appealed to the National Assembly to accede to the request for the creation of State Police in the impending Constitutionl Review to be undertaken by the 9th National Assembly.

"The police seem to be firmly under the control of the federal even when the governors are the chief security officers. This is an aberration under a federation.

"But if all the states have their own police that can be controlled by the governors, a law like this promulgated by states can be enforced easily.

"But we have the Amotekun Corps that has been trying to checkmate some of these suspected herders destroying our farms and causing food scarcity.”

In Abia State, the antiopen grazing law has been in existence for nearly three years.

THISDAY gathered that the Control of Nomadic Cattle Rearing and Prohibition of Grazing Routes/Reserves Bill 2016 was passed into law by the State House of Assembly in June 2018.

The law provides that the entry of trade cattle into the state shall be by rail or by road haulage.

It further stipulates that movement of trade cattle to major towns in the state shall be by truck, trailers/vehicles

or pick-up vans.

It provides that defaulters, if convicted, shall be punished with a fine of N200,000 or six months imprisonment or both.

However, the anti-open grazing law has been largely ignored by the police and other federal security agencies.

Governor Okezie Ikpeazu had publicly expressed his frustration with the security agencies’ failure or even outright refusal to enforce the anti-open grazing law.

The state Commissioner for Information, Chief John Okiyi Kalu told THISDAY that the attitude of federal- controlled security agencies to take orders only from federal authorities has further reinforced the clamour for the establishment of state police.

In Oyo State, the state House of Assembly in October 2019 passed a bill titled: 'Oyo State Open Rearing and Grazing Regulation Law', which has been signed into law by Governor Seyi Makinde,.

The law states, among others, that anyone who engages in open rearing or grazing of livestock is guilty of an offence and liable on conviction to imprisonment for five years or a fine of N500,000 or both.

Subsequent offenders shall upon conviction be liable to 10-year imprisonment or a fine of N2 million or both.

Speaking on the challenges facing its implementation in the state, the Chief Press Secretary (CPS) to the Governor, Mr. Taiwo Adisa, told THISDAY that the state has not been able to implement the law because the security agencies with the power to enforce it are under the control of the federal government.

He said the challenge was due to the fact that the country is not practising federalism.

"While the anti-open grazing law has become fully operational in the state, however there is no doubt that there is problem in its implementation with the state not in control of the security agencies who have the force of law to enforce it.

Indeed, the implementation is been hampered by the slow response by the police to enforce the law," he added.

Also despite the enactment of the anti-open grazing law by the Bayelsa State Government to keep cattle within the Bayelsa Oil Palm Estate, Elebele near Yenagoa, farmers in the state have continued to complain that

herdsmen still moved their cattle around and encroached on farmlands.

Investigation revealed that the police in the state were not committed to the enforcement of the law.

But the Commissioner for Information, Mr. Ayiba Fuba, told THISDAY that the state government would view seriously any case of herders of cattle in the state flouting the law.

Ebonyi State government had also enacted law on Anti-open grazing in 2018.

But since legislation: "Law No. 010 of 2018: Ebonyi State Miscellaneous Offences Law, 2018," was assented to by the Governor David Umahi, the law has become dormant due to non-implementation even with the constant clashes between herders and farmers in the state .

A top official of the state government told THISDAY at the weekend that the state government has no means of enforcing the law in the state.

"The anti-open grazing law has been passed. But you know that it is not part of the rules of engagement of the federal police or any other security agencies to enforce. So, it's hopeful that with the formation of Ebube Agu security outfit, they can begin to enforce the law in the state,” he said

Eight Southern States Set to Enact Law Despite the challenges in the implementation of the law by the states that had enacted it, no fewer than eight states are now set to enact anti-open grazing law following the pronouncement of the 17 southern governors.

In Ondo State, the antiopen grazing law has passed through the public hearing stage at the Ondo State House of Assembly.

The Chairman, House of Assembly Committee on Information, Hon. Gbenga Omole, told THISDAY at the weekend that the proposed law, was committed for public hearing after it had passed through the First and Second Reading.

He said the proposed law had been committed to committee level and would have been passed if not for the strike by Parliamentary Staff Association of Nigeria (PASAN).

The lawmaker said the proposed law, when passed

would replace the former Western State Forestry Law, that is no longer useful for the current situation concerning grazing.

In Enugu State, the state lawmakers said they were eagerly awaiting the Executive Bill expected to herald the anti-grazing law in the state.

Chairman of the House of Assembly Committee on Information, Hon. Jeff Mba told THISDAY that the 24 members of the assembly were ready to support any move to protect the lives and property of the people.

He explained that since it would be an executive bill, the legislators were eagerly expecting the executive arm of government to do the needful.

In Edo State, the state House of Assembly said it already had a private bill against open grazing, which was kept in abeyance because of its sensitive nature.

The lawmakers said they were waiting for Governor Godwin Obaseki’s Executive Bill against open grazing to fine-tune it.

"The private bill was Kept in View (KIV) because we want to conduct a public hearing", Edo State Speaker, Hon. Marcus Onobu, told THISDAY on Friday.

Onobu however, added that with the outcome and resolution of the Southern Governors' Forum in Asaba, Delta State, the assembly was more determined to work on the anti-open grazing bill by passing it into law as soon as possible.

Osun State Commissioner for Information and Orientation, Mrs. Funke Egbemode told THISDAY that the state had already put a law in place, which places duty on owners of livestock to take proper care of their livestock and keep them in check within perimeter fencing to prevent them from roaming and disturbing other people's properties or damaging crops .

She further disclosed that the state government is ready to review the law to accommodate other current realities if the need arises.

“According to Section 27(4) of the Law, any person who violates the provision of the law is guilty of a misdemeanour and liable to a fine or imprisonment or both," she explained.

She disclosed that Osun State has always been supportive of stakeholders in agribusiness and farmers , whether those in crop farming

or livestock farming know this.

"The existing law discourages open-grazing. To further ensure peaceful coexistence in our agribusiness sector, the state also has a committee in place where herders and crop farmers relate and resolve issues before they spiral out of control. We have been able to manage the sector because Governor Oyetola is particularly interested in growing agriculture as a business."

However the commissioner stressed that "if there is a need to review the existing Livestock Roaming Law to accommodate new sections or current realities, you can be rest assured that our response will be swift. We are all about safety and security of citizens of Osun, livestock farmers, crop farmers, everybody counts in Osun" Also in his own submission the Speaker of the State House of Assembly, Hon Timothy Owoeye who spoke through to THISDAY through the lawmakers’ image maker, Hon. Kunle Alabi confirmed that the state has a law that prohibits open grazing of livestocks.

The Cross River State Government is also planning to enact the anti-open grazing law.

THISDAY gathered that the state lawmakers had through a resolution urged the state government to reject open grazing by cattle and other animals because it was against an established environmental law of the state.

The Speaker of the House, Hon. Eteng Jonah William, told THISDAY that "the resolution subsists and the lawmakers remain opposed to open grazing."

According to him, the resolution of the Southern governors’ forum was just an affirmation of the position held by the lawmakers.

Though the Cross River State Government was not represented at the Southern Governors’ meeting in Asaba, Delta State, where open grazing was banned, the Special Adviser on Media and Chief Press Secretary to Governor Ben Ayade, Mr. Christian Nta, told THISDAY that the state was part of the decision, and would wait for modalities to be worked out before enacting any law.

Ayade had introduced the cultivation of special specie of grass known as "King Grass," to be exported to other parts of the country to feed livestocks.

foreign companies must demonstrate a minimum annual turnover of $500 million or the naira equivalent and a net worth of not less than $250 million or the naira equivalent for the previous financial year.

For indigenous firms, they are required to have a minimum turnover of $200 million or the naira equivalent and a net worth of $100 million for the preceding financial year ending.

Bidders are also to show their ability to handle supplies of crude and must list facilities and products processed or sold over the last three years, in addition to disclosing links to NNPC or the Bureau of Public Procurement (BPE) and confirming that directors have not been convicted of fraud or financial impropriety.

As with all Nigerian tenders,

NNPC also highlights that the local content law must be strictly adhered to in terms of, among others, the use of Nigerian shipping companies, insurance and banks where possible.

In the past, Civil Society Organisations (CSOs) in the country’s oil and gas space had argued that G2G contracts with smaller, non-refining countries have high governance risks and low policy benefits for Nigeria.

For instance the Nigeria Natural Resource Charter (NNRC) has asked that term contracts should be carried out through a transparent and competitive tender process that includes robust pre-qualification standards and an end of sales to smaller non-refining countries unless NNPC can publicly explain the deals’ policy benefits.

In Anambra State, there is no law banning open grazing of cattle but a member of the Anambra State House of Assembly, who spoke to THISDAY said the lawmakers were awaiting executive bill on the issue to curb the frequent clashes between herders and farmers.

Imo State Commissioner for Information and Strategy, Mr. Declan Emelumba referred THISDAY to the state house of Assembly, noting that it was the house of Assembly that has right to talk on the subject matter.

A member of the House of Assembly told THISDAY that the lawmakers will initiate the bill as soon as the security challenges in the state are resolved.

Southern Speakers, Ohanaeze Back 17 govs’ Resolutions Meanwhile, the apex Igbo sociopolitical organisation, Ohanaeze Ndigbo and the southern states’ legislatures have declared their support for the resolutions of the 17 southern governors on open grazing and restructuring.

National Publicity Secretary of Ohanaeze Ndigbo, Mr. Alex Ogbonnia told journalists in Enugu at the weekend that the move would go a long way in dealing with the prolonged clashes between herdsmen and farmers.

He regretted that the herdsmen have been allowed to carry guns over the years which has often given them the courage to always attack communities that do not allow them to destroy their farms.

“Everything they talked about during the meeting is in line with the position of Ohanaeze and we are very comfortable with it because open grazing has been the source of the problem,” he said.

On reactions by some northern elements over the ban, he said “it is normal for people to protest against moves, whether good or bad.

Change comes with a level of resistance. But we hope they will come to realize the importance of the ban and queue in because it is something that has to be done”.

On their part, the speakers commended the Southern Continued on page 16

NNPC SELECTS 26 FIRMS TO LIFT NIGERIA'S CRUDE OIL observed that the names of majority of the companies involved in the DSDP deal also appeared in the list of those picked by the national oil company for the crude term contracts.

The list sighted by THISDAY showed that the preferred companies included Sahara Energy Resources Limited, Oando, Duke oil (an NNPC subsidiary), Petrogas, AA Rano, MRS, Mercuria and Vitol.

Other oil and gas concerns which scaled the NNPC selection hurdle were Oceanbed Trading Limited, Levene Energy, Bono Energy , Mocoh Energy, BP Oil, West Africa Gas Limited, Litasco SA, Emadeb, Hyde, Matrix and Brittania-U. Other names listed by the NNPC as having qualified for the contracts included Masters, AMG, Casiva, Barbedos,

Trafigura, Hindustan and Patermina.

NNPC has its own equity share of crude oil from its Joint Ventures (JVs), usually shared on a 60 to 40 basis and thereafter appoints companies and issues licences to lift its share of the oil on a Free on Board (FOB) basis.

The companies and countries nominate ships that transport the crude which is sold in the international market. Sometimes, the NNPC also awards contracts to governments to carry out the business.

In the document approving the qualified countries, China, Niger, Cote D'voire, Ghana, India, Togo, South Africa came tops, while Sierra Leone, Liberia, Turkey, Senegal, and Fujaira also made the cut.

Typically, entities qualified to take part in the contract bid are

divided into four categories, namely a bonafide end user who owns a refinery and or retail outlets that can process Nigerian crude oil grades.

For the government to government contracts, or what is termed “bilateral relationships”, with what the corporation terms “high energy consuming nations”, bidding nations must provide proof that the entity is wholly owned by the relevant country or provide evidence of a bilateral agreement with the designated nation.

The third category is the internationally established and globally recognised large volume crude oil traders, while the fourth classification are indigenous companies engaged in Nigeria oil and gas downstream business activities.

In addition, qualifying

TOP GAINERS ETERNA REGENCYASSURE NEMINSURE CHI PLC ABCTRANS TOP LOSERS ACADEMY LINKAGEASSURE JAPAULGOLD

NGN NGN 0.60 6.60 0.03 0.34 0.18 2.08 0.04 0.49 0.03 0.37 NGN 0.04 0.36 0.06 0.69 0.04 0.55 CHAMS PLC 0.01 0.20 COURTVILLE 0.01 0.20 HPE Nestle Nig Plc ₦1,420.00 Volume: 219.549 million shares Value: N2.918 billion Deals: 4,107 As at Friday 14/5/2021 See details on Page 37

% 10 9.6 9.4 8.8 8.8 % 10 8.0 6.7 4.7 4.7

MONDAY MAY 17, 2021 • T H I S D AY

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MONDAY MAY 17, 2021 • T H I S D AY

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T H I S D AY • MONDAY, MAY 17, 2021

COMMENT

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

ANTI-GRAFT WAR: THE WAY FORWARD

Iliyasu Gashinbaki canvasses the need to pass into law the bill for the establishment of chartered institute of forensics and certified fraud examiners

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he Bill for the Establishment of Chartered Institute of Forensics and Certified Fraud Examiners of Nigeria scaled second reading at the House of Representatives on Thursday, March 29, 2021. The significance of this in the fight against corruption, fraud and criminality in Nigeria is far reaching. Promoted by Association of National Accountants of Nigeria (ANAN), it is a multi-disciplinary bill crafted to fire from all cylinders the hydra-headed monster that corruption has become in the country. Promoters of the bill have noted with concern the rising state of failure of cases in court and determined to reverse the trend. They believe 100% conviction of fraudsters is possible in courts if the cases are diligently prosecuted backed by hard core evidence using scientific methods of forensics and fraud examination.

The general public usually thinks that accountants are either fraud examiners or forensic experts. That is not true. As accountants, we are mandated to keep and maintain records in true and fair manner that is reliable. The fraud examiner or forensic accountant on the other hand, looks for the minute details of fraud not just accounts but the diverse ramification of fraud with the aim to ultimately find the evidence that will stand the test of time and nail the suspect.

Both the Association of National Accountants of Nigeria (ANAN) and Institute of Chartered Accountants of Nigeria (ICAN) train accountants. These are two major bodies and the extent of their scope of work is to maintain records of account that ensure reliability and accuracy for all the stakeholders. But maintaining accurate records is not enough in detecting fraud as criminals are always ahead of regulators or any system put in place. That is why you need the special skill of a forensic expert to unravel fraud and corruption. Being an accountant gives one an advantage in investigating fraud but other disciplines like law, economics, sociology, psychology and so on are also incorporated into the fraud examination exercise. Forensics is also diverse. While Forensic accounting is deployed to dig out evidence that will stand the test of trial, forensic science is also used to get evidence that is used in convicting criminals. Undoubtedly, the Chartered Institute of Forensics and Fraud Examiners of Nigeria which combines the two broad areas of scientific investigation will significantly reduce the quantum of fraud both in the public and private sector in Nigeria.

Regulators and even the people in the forefront of the fight against corruption have not been able to understand that we need to build capacity. For instance, if you notice, by legislation, we have the EFCC, ICPC, and even the police with the prosecuting powers associated with anything that has to do with corruption but we do not have a single professional body in Nigeria that is chartered and, dedicated for the purposes for fraud examination and forensic accounting. What we have on the other hand is so much money going into prosecution but what about the training and capacity building of professionals that is independent to service both the public and private sector in ensuring that we root out fraud and criminality? That is where the Institute comes in.

THE INSTITUTE WILL ENSURE SPEEDY ACTION FOR THE RETURN OF LOOTED MONEY WITH THE COMMITMENT THAT THE MONEY WILL BE DIRECTED TOWARDS THE SDGS

The Chartered Institute of Forensics and Certified Fraud Examiners of Nigeria will uniquely put on the table something different. It is different from any other law ever passed in this country because there is no law passed to build capacity of law enforcement agencies in the area of forensics and fraud examination.

Secondly, ANAN has the Nigerian College of Accountancy and that college has been upgraded into a university. The next necessary step will be to create the Nigerian Forensic Academy and once the bill becomes law, the Academy will be affiliated to the university to build capacity of the tertiary institutions. The idea is to upgrade it to a regional university in Africa in forensics and fraud examination. The multidisciplinary nature of the institute makes it a platform for diverse professionals in forensic architecture, criminology, law, sociology, medicine and so on to deal with various ramification of fraud. This way, the institute will have the scope and competence to deal with the broad diversity of our economy and growing complexities of fraud.

The bill, when passed into law, will deal with banking, insurance, capital market, judiciary and even legislative fraud. Let it be clear: EFCC and ICPC are investigations and prosecuting agencies. They have prosecuting powers. The Chartered Institute is not a government agency and it is not going to be funded by government’s money. It is going to be funded by subscriptions and activities it will generate from its members.

Interestingly, with Nigeria joining the African Continental Free Trade Area (AfCFTA), the implication is that money laundering, tax evasion, trade malpractices and all sorts of inter- jurisdictional fraud and organised crime will double because of the huge market and so many things being liberalised. So if there is anytime Nigeria should take leadership so that it will become the epicenter that will incubate professionals in forensics and fraud examination not only for the country, but export them as intellectual capital, this is the time. And Nigeria can do that through this Institute. This is because Nigeria is one of the biggest victims of fraud. So this institute is uniquely different from any other body you have currently or any legislation that is being contemplated in the National Assembly.

Another aspect where the institute will play a key role is the area of recovered loot. The institute will ensure that recovered loot will be properly accounted for. And not just accounted for, but will not be re-looted and reapplied. Working with this institute, Nigeria can also ensure the speedy recovery of stolen money still trapped abroad with so many technicalities to delay their return to African countries. The institute will ensure speedy action for the return of looted money with the commitment that the money will be directed towards the SDGs. The importance of the institute to the three arms and tiers of government is so germane that we believe passage of the bill into law will perhaps be the greatest gift the ninth assembly will give to this country.

Dr. Gashinbaki is President and Chairman of Council, Chartered Institute of Forensics and Certified Fraud Examiners of Nigeria

LAWAN, SOUTHERN GOVERNORS AND RESTRUCTURING There should be limits to politicking, writes Paul John

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read with great displeasure the reactions and comments credited to Senators Ahmed Lawan, Ali Ndume and Rt. Hon. Femi Gbajabiamila to the clarion calls by the southern governors for restructuring of the country and for Mr President to address the nation along with the ban of open grazing in the south. I am aware that these national legislators are from Mr President’s party hence should defend him at all costs even if the country is boiling.

The Senate President said that the worsening security situation in the country is due to lack of a functional local government system. This is fallacious and misleading. Is it the local government system that controls the security agencies and our National Intelligence agencies? Who appoints the service chiefs, the local government chairman or the president of the country? Who is the commanderin-chief of the armed forces of the Federal Republic of Nigeria, the local government chairman or the president of the Federal Republic of Nigerian? In case Senator Lawan has forgotten, Section 5 of the Nigerian constitution vested executive powers of the federation on the president and not on the local government chairmen or the state governors. I know when the issue of state policing was deliberated by the Nigeria Governors’ Forum, it was rejected by most northern governors on the ground that they did not have the financial clout to finance such project. Today, the federal police will post a police officer who does not know the terrain of an area or the culture of a people to go and police the area.

On the call by the Southern Governors Forum for the restructuring of the country, Lawan said, “I believe that as leaders, especially those of us who are elected into office should not be at the forefront of calling for this kind of thing. Because, even if you are a governor, you are supposed to be working hard in your state to ensure that this restructuring

you are calling for at the federal level, you have done it in your state as well.” My people say that the oppressor will never see anything wrong in his act of oppression and I do not expect Senator Lawan to say the contrary.

I need not remind Senator Lawan that the 1999 constitution imposed on us by the military does not represent the wishes of the people of Nigeria. It is both absurd and abusive referring to the governors as the chief security officers in their states when they do not have any control on the police, army, DSS or any other security agencies in their respective states. Recently an online video showed where the governor of Akwa Ibom State was accusing the commissioner of police in his state for causing mayhem in the state. If Governor Udom Gabriel Emmanuel had control over the commissioner of police in his state would he not have transferred such commissioner of police out of his state or sack him? To me, it is derogatory referring to a state governor as the chief security officer of his state when he has no control over any of the security agencies. All the security agencies in the state are controlled from Abuja.

In the same vein, the Speaker of the Federal House of Representatives, Rt. Hon. Femi Gbajabiamila has argued that the agitation for restructuring may be genuine but elected leaders and state governors should not be the ones to champion the movement for restructuring without first replicating the idea at the state level. I want to remind Hon. Femi that the governors were voted in by the people hence they should represent their people at all times. What the governors said was exactly the wish of their subjects.

We run a representative system of government and the governors are representing their people.

On the other hand, the Chairman, Senate Committee on Army, Ali Ndume, has said Southern governors in the country won’t get the solution

to the various problems confronting the region by playing to the gallery. I believe that Senator Ndume should have another meaning to the idiomatic expression of ‘’ playing to the gallery’’ because there is no way somebody would regard the decisions reached by the southern governors as playing to the gallery.

Senator Ndume again faulted the decision of the Southern governors to ban open grazing in the states, adding that open grazing was not the problem but insecurity. This is preposterous as our people say that to separate a fight one must first stop the opponents from coming together. I want to remind Senator Ndume that southern governors are not acting alone in this, as Justice Adewale Thompson banned open grazing on 17th April 1969 and warned of unprovoked killings by Fulani herdsmen. So there is a judicial precedent on this matter before the southern governors did the needful. Senator Ndume may verify this from Suit no AB/26/66.

In his judgment on the suit, the presiding judge, Justice Adewale Thompson, had this to say : “I do not accept the contention of Defendants that a custom exists which imposes an obligation on the owner of farm to fence his farm whilst the owner of cattle allows his cattle to wander like pests and cause damage. Such a custom if it exists is unreasonable and I hold that it is repugnant to natural justice, equity and good conscience and therefore unenforceable…in that it is highly unreasonable to impose the burden of fencing a farm on the farmer without the corresponding obligation on the cattle owner to fence in his cattle.” Sequence to that I banned open grazing for it is inimical to peace and tranquility and the cattle owners must fence or ranch their animals for peace to reign in these communities.”

I still want to put it to Senator Ndume that trespass is both civil and criminal offence in Nigeria hence it is senseless defending herdsmen who take

their cattle to another person’s property to destroy the person’s crops. Section 342 of the penal code is clear on what constitutes a criminal trespass and section 348 of th e same code clearly outlines the punishment for criminal trespass. It may also interest Senator Ndume to know that the Supreme Court has gone further to state the ingredients of a criminal trespass as follows: Unlawful entry into or upon a property in the possession of another or unlawful remaining there; an intention to commit an offence or intimidate, insult or annoy the person in possession of the property.

It needs to be noted that trespassing can have both civil and criminal consequences. A property owner may be able to sue someone who enters their land without permission. Meanwhile, the trespasser also may face criminal charges. The prosecutor would need to prove that the defendant intentionally entered someone else’s property without permission, or remained there after being told to leave. This charge usually arises in the context of private property, but it can also arise if someone enters a store or other business, or even a city or state park, when they are not permitted to be there. I intentionally cited penal code that is applicable to northern part of the country which is where Senator Ndume hails from because I don’t want to bore him with similar provisions of the criminal code.

I put it to Senator Ndume that these two ingredients of criminal trespass are being executed by the herdsmen who unlawfully access somebody’s farm, intimidate, maim, rape or even kill the farmer if the farmer raises an eyebrow. I laughed when I read where Ndume said that: “They (the southern governors) have unfettered access to Mr President who is the Commander-In-Chief and they themselves being the chief security officers of their states have the national security council.’’

Dr John wrote from Port Harcourt, Rivers State

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T H I S D AY • MONDAY, MAY 17, 2021

EDITORIAL FBN CRISIS AND THE FINANCIAL SECTOR CBN should be vigilant and take prompt actions to prevent financial risks

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he recent boardroom crisis in the 127-year-old First Bank of Nigeria Ltd (FBN) which culminated in the intervention of the Central Bank of Nigeria (CBN) has again raised corporate governance concerns in the financial sector. The country is replete with relics of failed institutions both in the public and private sectors, occasioned by sundry ills, such as poor corporate governance, mind-boggling corruption, gross negligence, incompetence and insider abuses, among others. It is not a road we should travel again.

Trouble started when the CBN dissolved and reconstituted the boards of FBN and those of its parent company, FBN Holdings Plc. The FBN Managing Director earlier removed by the former board was reinstated by the apex bank. With what has played out in the last few weeks, the issues at stake are clearly in the public domain and need not be over-flogged. The place of the FBN in the financial sector cannot be overstressed. CBN Governor, Godwin Emefiele put it rather succinctly: “By our last assessment, First Bank has over 31 million customers, WHAT MEASURES ARE with a deposit base of BEING CONSIDERED TO N4.2 trillion, shareENSURE THAT THE LEVEL OF holders’ funds of N618 ALLEGED INSIDER ABUSES billion and NIBSS IN FBN ARE STAMPED OUT IN instant payment (NIP) processing THE FINANCIAL SECTOR? capacity of 22 per cent of the industry.”

Available records indicate that the FBN maintained healthy operations until the 2016 financial year when the CBN’s target examination revealed that the bank was in grave financial condition with its capital adequacy ratio (CAR) and non-performing loans ratio (NPLs) substantially breaching acceptable prudential standards. The problems at the bank were attributed to bad credit decisions, significant and non-performing insider loans and poor corporate governance practices.

The bank would probably have been in serious trouble were it not for CBN regulatory forbearance, a financial

Letters to the Editor

term for softening some of the strict rules that banks must comply with if they are to avoid being taken over by the regulator.

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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 TO SEND EMAIL: first name.surname@thisdaylive.com

ncidentally, the financial sector has had more than its fair share of this malaise. Between 1989 and December 2019, the Nigeria Deposit Insurance Corporation NDIC) had liquidated 425 financial institutions, including 51 Deposit Money Banks (DMBs), 325 Micro Finance Banks (MFBs), and 51 Primary Mortgage Banks (PMBs) largely due to the above ills. Bank failures come with a lot of ripple effects on the economy, including job losses and loss of depositors’ funds, among others. Which is why efforts by the CBN to ensure that FBN does not only recover from the rather unsavoury corporate governance misdemeanours and insider abuses that characterised its operations in the last couple of years, are commendable.

With the level of CAR at the FBN, recapitalisation has become the only option to return the banking giant on a sound footing. Everything should be done to secure investor confidence as the bank now needs to raise fresh capital and also decide, quite urgently, where to raise it from. Fortunately, the recent boardroom crisis and the ensuing disclosures have not triggered a run on the bank. But beyond the fate of one bank, pertinent questions that arise include: At what point did the CBN uncover FBN investments in Honeywell and Bharti Airtel? What measures are being considered to ensure that the level of alleged insider abuses in FBN are stamped out in the financial sector? Has the CBN consistently adhered to its circular which requires that insider-related facilities must not exceed 10 per cent of paid-up share capital?

We urge the CBN to take cognisance of the International Monetary Fund (IMF) recommendations of December 2020. The Fund had urged vigilance and corrective actions to prevent an increase in financial stability risks arising from increasing NPLs. In this connection, it noted that debt relief measures should remain time-bound and limited to clients with good pre-crisis fundamentals, in line with existing regulations.

TO OUR READERS Letters in response to specific publications in THISDAY should be brief (150-200 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

ON SANWO-OLU’S POVERTY ALLEVIATION INITIATIVES

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n view of the harsh reality of the havoc that poverty, if allowed to flourish, could unleash on the world, Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu, has made poverty eradication a foremost goal of his administration’s ‘Greater Lagos’ blueprint.

Lagos, being the country’s economic, industrial and commercial hub, could experience untoward social-economic consequences if Nigeria’s poverty and unemployment situation is not frontally addressed.

Since Lagos State is home to about 21million Nigerians, it is safe to affirm that the state, which is the fifth largest economy in Africa, feels the brunt of the menace of youth employment the most. That Lagos alone accounts for over 70% of national industrial investments makes it attractive to job seekers from all across the country.

It is in realisation of this that the Sanwo-Olu administration made ‘Making Lagos a 21st Century Economy’ a leading part of its T.H.E.M.E.S (acronyms for Traffic Management and Transportation, Health and Environment, Education and Technology, Making Lagos a 21ST Economy, Entertainment and Tourism and Governance and Security) Developmental Agenda.

An integral part of this is the evolution of several initiatives aimed at empowering the residents. The various initiatives are conceived, coordinated and implemented by agencies such as the Ministries of Women Affairs and Poverty Alleviation (WAPA), Wealth Creation and Employment, Education, Agriculture, Youth and Social Development, Commerce, Industry and Cooperatives, Office of Civic Engagement, Office of Sustainable Development Goals (SDGs), Lagos State Employment Trust Fund (LSETF) among others.

In the last two years, about 48,000 households have been rescued from poverty through WAPA’s various social intervention programmes under which women got cash transfers and acquired skills. Some 1,050 rural women received intensive training in boosting outputs in agricultural production and giving the beneficiaries equal access to markets.

Largely, the government has prioritised intervention programmes that support women in achieving gender equality, self-reliance, skill balance, inclusion in social security systems and stable means of livelihood.

The government supported 2,704 Lagos residents whose means of livelihood had been disrupted by the Coronavirus (COVID-19) pandemic. Some 500 women were also assisted with N20,000 each through the Federal Ministry of Humanitarian Affairs’ Rural Women Grants from.

Series of programmes and activities aimed at improving the status of women in Lagos and making them economically independent were also organised by the government. Also, in order to increase the total GDP for income generation, financial growth and stability, the government embarked on supporting women through direct cash intervention and capacity building.

Over 48,000 women, from different households, have directly benefited from the government’s mega empowerment project. Over 1,050 women have also profited from the state’s agricultural training for rural women on cultivation of vegetables, cassava planting and cultivation, garri processing and other arable crops. Similarly, 250 women were empowered through an empowerment workshop on intercrop of maize and cassava with demonstration plots for practical knowledge.

The state’s empowerment strategy also has a skill acquisition

dimension for those who want to acquire vocations such as textile design, hair dressing, barbing, cosmetology, photography, shoe and leatherworks, fashion design, tiling, interior decoration, and Ankara craft, among others.

This is done in the state’s over 28 skill acquisition centres, where over 25,000 Lagosians have acquired diverse skills. In 2019, Mr. Governor supported 18 outstanding students with N100,000 each to boost their morale. In the heat of the COVID-19 pandemic, students across the skill acquisition centres produced 500,000 face masks for public use.

Efforts are constantly made to develop the skills of graduates of the Centres. Recently, 2,000 tradesmen and artisans were reskilled through the re-skilling programme developed to equip them towards becoming 21st-century compliant.

In order to sustain the momentum, eight vocational centres are at their completion stages, including skill acquisition, gari processing, cold room, market stall and community hall in Ibeshe Town, Amuwo Odofin, and a home for survivors of domestic violence.

Widows and other vulnerable women are equally not left out in the state’s empowerment scheme, as they have been empowered with working tools such as sewing machines, hairdryers and clippers, pepper grinding machines, generators and popcorn making machines.

Similarly, 200 household heads for orphans and vulnerable children were empowered with 76 grinding machines, 69 sewing machines, 10 tools, 10 deep freezers, 15 hair-drying machines, 10 braving equipment and 7 ovens among others.

Mobolaji Adebayo, Ministry of Information & Strategy, Secretariat, Alausa, Lagos

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MONDAY, ͹Ϳ˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

Uncertainty Trails APC Convention Scheduled for June Adedayo Akinwale in Abuja There is uncertainty over the national convention of the All Progressives Congress (APC) scheduled for June as the tenure of the Caretaker/ Extraordinary Convention Planning Committee of the party will expire next month without any timetable for the exercise.

The committee was constituted in June 2020 to conduct an elective national convention in December last year, but it sought a six-month extension, which was granted by the National Executive Committee (NEC) in December 2020.

After the committee's tenure was extended, rather than put plans in place and issue timetable for the conduct of congresses and convention, it embarked on the membership registration and revalidation exercise.

While the membership registration exercise was going on, the committee constituted an eight-man committee to review the party’s constitution, which initially stoked a fresh crisis amongst the power blocks within the party.

Even though the ongoing membership, revalidation and registration exercise has been largely successful, it remained inconclusive.

However, following a report at the weekend that the leadership of the party will release the timetable for the convention this week, sources in the party were unable to confirm the development.

Despite the fact that there were no strong indications that the party would conduct the convention next month as scheduled, the National Secretary of the party, Senator John Akpanudoedehe told THISDAY that the committee was committed to conduct the national convention.

He said, "I have told you before; we will do it."

However, he declined to disclose whether the

convention will hold next month or not.

A chieftain of the party also told THISDAY that the party leadership would hold a meeting soon to decide when the NEC meeting of the party will hold.

THISDAY further gathered that the conduct of the party's convention in June is not certain, stressing that the committee should have released the timetable for congresses which would culminate to the conduct of the party's convention next month.

A party source also hinted that it would be unlikely for the leadership of the party to release the timetable for the

convention this week since the congresses have not been conducted.

On the conduct of the party's convention next month, the source said: "Everything is still dicey as regards the convention because there is a possibility that the tenure of Caretaker Committee may not be extended.

"But now it remains a month for the tenure of the committee to elapse, the revalidation exercise remains inconclusive, while the congresses have not been conducted. So, how will they do convention without congresses?

"Ward congress has not been conducted; same as

Local government congress and State congress and these are the people that will mop up delegates to the National Convention."

Asked when the committee will call for the NEC meeting of the party to seek for another extension, he added: "What the committee is after now is the extension of their tenure. So, before December they can organise convention after the congresses.

"At the moment, there is no confirmation about the NEC meeting; maybe after the Salah break. They will have to convince the President because they must follow the rule of the law."

Herdsmen Attack, Tribal Clash Claim 16 Lives in Taraba Gunmen attack Delta police station, kill DPO, two others Omon-Julius Onabu in Asaba Attack by suspected herdsmen and a clash between Fulani herdsmen and Tivs farmers have claimed 16 lives in Taraba State.

While at least 10 persons were confirmed killed by suspected herdsmen in Bornon Kurkur community, Bali Local Government Area of the state, six persons were found dead between Jatau Kungana and Gazabu communities of the local government area.

This is coming as a divisional police officer (DPO) and two other policemen were reportedly killed following an early morning attack on the police divisional headquarters in Nsukwa, Aniocha South

Local Government Area of Delta State by unidentified gunmen.

Taraba State Police Public Relations Officer, David Misal, said the attack by the suspected herdsmen occurred yesterday, adding however that the situation has been brought under control.

According to him, the Commissioner of Police in the state, Ahmed Azare, has ordered for deployment of more personnel to comb the area as well as protect the victims.

In a separate incident, six persons have been found dead between Jatau Kungana and Gazabu communities of the Bali LGA of the state.

The Chairman of the local government, Mahmud Musa, said the fracas started in Katsina-Ala

Local Government Area of Benue State which shares a boundary with Taraba State.

He said some Fulani herdsmen, who were chased from the axis, ran into Bali LGA where they were partially resisted and the fight escalated which led to the death of six persons in the axis.

Musa added that he has summoned the leadership of both Fulani herdsmen and the Tivs tribe to talk to their subjects and put the situation under control.

He insisted that calm has been restored and security agencies are manning the nooks and crannies of the local government to avert any uprising and asked those using the opportunity to destroy or steal from houses to desist from such act.

Meanwhile, a DPO and two other policemen were reportedly killed following an early morning attack on the police divisional headquarters in Nsukwa, Aniocha South Local Government Area of Delta State by unidentified gunmen.

The police station was also set ablaze by the unknown gunmen who invaded the quiet town of Nsukwa yesterday morning.

THISDAY learnt that the deceased DPO and two sergeants were also set ablaze by the daredevil criminals.

The gunmen were said to have stormed the station at about 2am shooting sporadically apparently to ward off any possible challenge.

Although, some residents near the police station were

said to have woken up from sleep by the sounds of gunshots, the hoodlums carried out their evil mission without any opposition.

The agrarian community was practically enveloped in fear following the strange development.

"Everybody was afraid following the shooting and no one could challenge them because nobody knew who and how many they were. It was later we heard that the police station was attacked,” a resident in the agrarian community said.

The perpetrators and purpose of the attack remained a mystery.

The Delta State Command was yet to react to the incident as at the time of filing this report last night.

The state police

commissioner, Ari Muhammed Ali did not respond to calls put across to him while the phone of the state police command spokesman, Mr. Bright Edafe, a deputy superintendent of police (DSP) was unusually 'switched off" when THISDAY called his number several times.

However, senior officers of the Nigeria Police Force led by the Assistant InspectorGeneral (AIG) of Police in charge of Zone 5, Isaac Akinmoyede, accompanied by the Commissioner of Police in Delta, Ari Muhammad, were said to have have visited the scene to ascertain the level of destruction done.

Journalists were, however, barred from entering the premises of the attacked station.

government to maintain non-pharmaceutical protocols.

He said: "We do not have the third wave yet. but it may come. Government has done the right thing by this selective targeting of activities likely to contribute to the spread of the disease. It is now in our hands to make sure we do not allow the virus to spread.

"Through our carelessness and disregard of nonpharmaceutucal interventions, we got the second wave. If we continue, the third wave is sure to come".

While assessing the measures rolled out by the federal government, Tomori

said the steps were good but needed to be embraced by all the citizens for it to be more effective in checking the spread of COVID-19.

"For now, the measures are okay. The need for additional measures depends on whether we, the citizens collaborate with government in adhering to the guidelines or not. We should get involved and play an active role by encouraging and ensuring the participation of every citizen.

"The government has already suspended flights from some countries. I am sure the situation is being monitored by the government,” he added.

AVERTING THIRD WAVE OF COVID-19 BEYOND TRAVEL ADVISORY, NMA, TOMORI TELL FG measures put in place.

They however commended the Presidential Steering Committee (PSC) on COVID-19 on the recently issued international travel advisory and the re-introduction of restrictions, all aimed at averting the third wave of the infection.

NMA's President, Prof.

Innocent Ujah told THISDAY at the weekend that the federal government should ensure adequate enforcement and monitoring of the measures it recently announced to check the importation of a more deadly variant of COVID-19 virus from other countries.

"I want to say that NMA is very happy and we commend federal government for taken proactive steps to respond to the threat of a third wave of COVID-19 pandemic, by issuing timely health advisory regarding those passengers coming from Turkey, India and Brazil.

"This is a very commendable effort because this is what we had advocated for early in 2020 shortly before COVID-19 came in, that we should close our borders so that we don't have any importation of the virus, but unfortunately before they did that, it was late and therefore many of our people got infected. However, this time , the advisory note issued by the federal government is very important and NMA commends it," he said..

The NMA boss spoke on the

aspect of the travel restrictions contained in the government's COVID-19 health advisory, describing it as good decision.

He, however pointed out that the authorities should not stop at that but should ensure that the recommended health protocols be strictly enforced to make the response effective.

"What we need is strict enforcement and monitoring so that anybody coming into the country must be made to go through a protocol and then be quarantined and if tested positive, kept in isolation centre.

"This requires strict monitoring because science monitoring. When they monitor and discover that many people coming in, test positive then they can effect a travel ban to those countries.

On the suggestion that government should go further to impose outright travel ban on countries proven to be witnessing resurgent spread of COVID-19 pandemic, Ujah said NMA would go for a systematic approach that would be based on correct analysis of the present situation.

"We need to systematically follow the issue because COVID-19 has socio-economic consequences. So, I think we should be very careful and be able to enforce the health protocols - for instance, ensuring that people take precautionary measures such as putting on facemasks and

observing social distancing”.

When asked about the prospect of revamping the vaccine production factory in Nigeria, Ujah said it was a good plan.

He expressed optimism that with the setting up of the joint venture facility between May and Baker and Bio-vaccine, NMA believed the country was on verge of establishing the local vaccine manufacturing facility.

"It is important for the federal government to do something to revamp the vaccine production company in Yaba, Lagos State so that Nigeria can be able to produce vaccines locally.

"Nigerians are talented and hard-working and all they need is encouragement," Ujah said.

While reacting to the delay in actualising the resuscitation of the vaccine factory, Ujah said that the problem may be due to lack of confidence by foreign partners and the security situation in the country.

"We need to build confidence.

Nigerian government should be able to provide a conducive environment; the security situation must improve because nobody wants to invest in a country where there is violence, kidnapping, maiming, Boko Haram, and armed robbery.

These are some of the things that probably may be making other countries to be hesitant

to come and partner with us .

But you see, partnership and collaboration is what we need if we are to reestablish and reactivate vaccine production in Nigeria," he said .

While supporting NMA's position, Tomori said the problem with the country's efforts to check the spread of COVID-19 virus were that of poor compliance and poor enforcement of the health advisory.

Tomori told THISDAY that whether the country would relapse into another wave of COVID-19 pandemic or not would depend on how the people cooperate with

EIGHT SOUTHERN STATES SET TO ENACT ANTI-OPEN GRAZING LAW Governors "for coming together to speak with one voice", saying the resolutions of the Southern Governors were pathways to resolving the plethora of problems facing the country, including insecurity.

They said that the issues that prompted the resolutions reached by the governors in the recent meeting in Asaba were too well known to all Nigerians, that all that was required was for the federal government to take appropriate steps urgently to address the issues canvassed by the southern governors.

In a statement made available to journalists, the lawmakers vowed to use their position to give the resolutions by the governors the needed

legislative backing or support.

The Speakers in a statement made available to THISDAY in Asaba, said: "We the Speakers of State Legislatures in Southern Nigeria commend the Governors of the Southern States for their patriotism and firm belief in the unity of the country.

"We adopt all the positions in the communique and reiterate the call for the ban on open grazing of cattle in the South.

"We support the call for the restructuring of the country to enthrone true federalism and therefore the convocation of a National Dialogue is inevitable,” the statement added.

"We also urge the Governors to send bills to the (respective)

Legislature, where necessary, to address some of the issues in the communiqué”.

They hailed the Governor of Delta State, Dr. Ifeanyi Okowa, for providing the platform for the meeting of the governors.

The speakers' resolution was signed by Chief Sheriff F.O Oborevwori, Deputy National Chairman, Conference of Speakers of State Legislatures of Nigeria; Mr Aniekan Bassey, Vice-Chairman South-South, Conference of Speakers of State Legislatures of Nigeria; Francis O.Nwifuru, Vice-Chairman South East, Conference of Speakers of State Legislatures of Nigeria; and, Prince Olakunle Taiwo Oluomo, Vice-Chairman South-West, Conference of Speakers of State Legislatures of Nigeria.

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T H I S D AY ˾ MONDAY MAY 17, 2021

POLITICS

Group Politics Editor NSEOBONG OKON-EKONG Email: nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY

M O N D AY D I S C O U R S E

Controversial Conciliator or Provocateur in-Chief?

For the better part of his enduring tenure as Minister of Labour and Employment, Dr. Chris Ngige has been under siege by sundry labour activists, often putting him under pressure to redeem the blemished image of the Muhammadu Buhari administration, but he has managed every expectation with some degree of competence, writes Onyebuchi Ezigbo

M

inistry of Labour and Employment is not one of those ministries regatded as an attractive portfolio or in the Nigerian political parlance, one of the juicy ministries. Just as it’s name implies - labour implies, the ministry deals with very tasking issues that, most often ,has to do with intractable industrial disputes. It is considered a dumping ground of all manner of industrial disputes and workers strike.

Only few ministers can say that they really enjoyed their stay in the ministry and are able to contain the torrent of attacks, jeers and mudslinging thrown at them by angry workers and their union leaders. Nobody expected that as a former governor of Anambra State and a federal legislator, Senator Chris Ngige will come to the office with such a disarming humility, wealth of experience, and hard work. The first baptism of fire that greeted Ngige shortly after his appointment was a looming national strike precipitated by the increase in the pump price of Premium Motor Spirit (PMS). Organised labour was threatening to unleash a nationwide strike that would have crippled the new All Progressives Congress-led (APC) administration but Ngige proceeded to tackle the highly volatile issue with unprecedented tact notwithstanding the resoluteness of organised labour to take on the new administration over what they considered as outrageous hike in fuel price, Ngige was able to persuade and negotiate with the leadership of the workers not to embark on a national strike.. Another issue that threatened industrial peace in the country was the dispute over minimum wage. After a very long and tuturous negotiation, Ngige and other members of the government team were able to resolve the knotty issues to arrive at an acceptable N30,000 new minimum wage. The then Permanent Secretary, of the Ministry of Labour and Employment, along with the Chairman of National Income and Wages Commission also played a very key role in achieving this milestone.

The ministry successfully led the government team which included federal and state governments in the Tripartite National Minimum Wage Committee that produced the National Minimum Wage Act 2019. The negotiation was tripartite plus in nature, tortuous, rigorous but reached the land mark N30,000.00 minimum wage for the least paid Nigerian worker. It was not an easy task as the Minister was made to wear the twin cap of a Conciliator and an Employer at the same time, a situation that exposed him to buffeting by both sides but at the same time made him the harbinger of the good news for all Nigerian workers in the public and private sector at the end of the day. Remarkably, this time, a National Minimum Wage Act through the cooperation of the National Assembly that worked on the Bill and Mr. President who signed the Bill into a new law known as the National Minimum Wage Act 2019 was born.

One of the basic principles of the International Labour Organization (ILO) which Ngige so much believes in is the principle of collective bargaining. It’s like a magic wand. Once there

Nigerian workers at a protest rally

is an industrial dispute, the minister will first remind the union about the basic tenets of collective bargaining and the fact that all negotiations must respect the sanctity of that noble principle for it to yield positive results and be implementable. As part of his strategy, the Minister will first court the affected union and get them to trust his neutrality and authority in moderating negotiations between then and their employees. He will start by emphasizing that in all labour agitations, especially when it concerns demand for welfare and better pay package, that the guiding principle for resolving it and reaching acceptable agreement should be based on collective bargaining. In pushing for this, Ngige is always ready to go the whole hug with the unions, including cracking jokes and exchanging banters at each

other during negotiations. In the end, the minister brings out the best in his negotiation skills and uses it to soften whatever hardline position that the unions may present.

Some of the factors that makes his work easy as a minister include the authority he exercises, sure-footedness, the brilliance, clout, conviviality, wits and pun he takes to negotiations.

Also President Muhammadu Buhari has demonstrated a clear understanding of Ngige’s position as the competent authority and accords him confidence.

It is a verifiable fact that the Minister has hardly spoken in vain in all negotiations with labour unions as the Federal Government usually gives full backing to every accompanying agreement or pronouncement.

A case in point was during the clash with the Nigeria Labour Congress

Despite ASUU’s defiant posture, Ngige also advised government to set aside the “No Work, No pay” policy as contained in Sec. 43 of the Trade Dispute Act, Cap T8, Laws of the Federation of Nigeria( LFN )2004 to pay the salaries of university teachers who refused to teach for nine months. Such benevolent disposition of government later helped in softening the position of the university lecturers and to the eventual resolution of the protracted strike. Most of the labour unions like NARD, SAANU, NASU and JOHESU at one forum or the other acknowledged the Minister’s commitment to industrial peace . For instance, the President of NARD recently apologised to the Minster for some of their actions and ill-informed comments during September 9, 2020 strike. He expresed satisfaction at the efforts and fatherly disposition Ngige showed during their negotiations. The union went ahead to honour Ngige with the Chief Conciliator Award in 2020

(NLC) over the board chairmanship of the Nigeria Social Insurance Trust Fund (NSITF). Ngige was firm and resolute in his determination to push through the position of government on the issue. The tough and witty nature of the man who once survived politically masterminded plot to kidnap and remove him from office as governor of Anambra state was brought to bear when the NLC blocked the entrance to his private residence in Asokoro, Abuja.

The intention was to embarass Ngige and possibly prevent him from going to office and more importantly attending that day’s Federal Executive Council meeting but somehow, the minister was able to beat the blockade and left his house to attend to his official functions.

Notwithstanding, NLC’s spearheaded a campaign against the composition of the NSITF Board, the Minister had his way and secured the president’s approval for the new board.

The minister also seems to have a way of bending backwards to reach out to agreived labour unions to the extent that he was able resolve issues with them amicably.

This has brought enormous credibility to negotiations. For example, the ease with which the two labour centres NLC and the Trade Union Congress(TUC) called off what would have been the mother of all strikes on September 28, 2020 over the increase in pump price of fuel and electricity tariff is a clear example. It was a master stroke, preemptive conciliation that denied mischief makers the opportunity of angst which was later violently expresed during the “EndSARS” protests.

To make sure that every negotiation has the full weight of government participation , the Minister ensures that parties to talks are represented by officers not below the position of a director. He frowns each time ministers, permanent secretaries and chief executives of MDAs relevant to conciliations are not fully represented. In August 2017, for instance , the Minister had told a

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MONDAY DISCOURSE

Buhari

deputy director who came to represent a director in the office of the Accountant General of the Federation to leave a negotiation meeting. The Minister was also said to have berated the lackadaisical attitude of the Office of the Accountant General of the Federation over the release of funds approved by the Federal Government for specific purposes. He also told all the agencies that had a role to play in implementing the Memorandum of Action (MoA) with Academic Staff Union of Universities (ASUU) to be faithful to such role. He went further to institute a model where all the stakeholders in the MoA with ASUU must be conversant with such agreement and promptly assigned roles.

He further warned that, “the era when agreements entered into is left to gather dust in the shelf is over. According to Ngige, “Everybody must strictly play the assigned role and faithfully too.” Sources at the ASUU negotiations said the brilliance, clout, conviviality, candour, wits and literary-pun Ngige takes to negotiations prove a hold on the ego of these intellectuals who would relentlessly assert vaunting airs at meetings. Instructively, in five years of serial thorny negotiations ASUU has neither walked out on Ngige nor did negotiation snowball into presidential intervention . A source at their meetings said that Ngige once asked ASUU leadership if there is any promise he made to them that failed. The response was a deafening silence in the conference room. The source said ASUU may also not easily forget its experience at one of the negotiations in February this year when Ngige momentarily yielded floor to a younger member of the government team to moderate negotiations. The situation became so tense was that the ASUU team almost left in fury but for Ngige’s intervention. That was how the famous phrase, “young Turks” came into the recent history of FG/ASUU negotiation according to the source.

Ngige bends backwards to ensure negotiations are successful. In the midst of COVID-19 last year for instance , he defied fear and protocol to summon meetings with the National Association Resident Doctors (NARD) and Joint Health Sector Unions (JOHESU) in his personal house to end an unfortunate strike they embarked on. He went ahead to push for government’s approval and release of N32 billion COVID-19 allowance for frontline health workers.

Despite ASUU’s defiant posture, Ngige also advised government to set aside the “No Work, No pay” policy as contained in Sec. 43 of the Trade Dispute Act, Cap T8, Laws of the Federation of Nigeria( LFN )2004 to pay the salaries of university teachers who refused to teach for nine months. Such benevolent disposition of government later helped in softening the position of the university lecturers and to the eventual resolution of the protracted strike.

Most of the labour unions like NARD, SAANU, NASU and JOHESU at one forum or the other acknowledged the Minister ’s commitment to industrial peace . For instance, the President of NARD recently apologised to the

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Dr. Chris Nwabueze Ngige r .JOJTUFS PG -BCPVS BOE &NQMPZNFOU (2015 to date) and member of the All Progressives Congress (APC) r )PMEFS PG UIF /BUJPOBM )POPVS 0EFS PG the Niger (OON) r .FEJDBM 1SBDUJUJPOFS ZFBST GSPN "MPS Anambra State r &MFDUFE 4FOBUPS GPS "OBNCSB $FOUSBM (2011-2015) r (PWFSOPS PG "OBNCSB 4UBUF .BZ .BSDI VOEFS UIF 1FPQMFT %FNocratic Party (PDP) r "CEVDUFE BOE IFME BHBJOTU IJT XJMM PO July 10, 2003, allegedly on the orders of his political godfather, Chief Chris Uba r 3FNPWFE GSPN PGàDF U CZ UIF $PVSU PG Appeal sitting in Enugu, which declared Peter Obi of All Progressive Grand Alliance party (APGA) winner r .FEJDBM 0GàDFS /BUJPOBM "TTFNCMZ $MJOic (1980-1982) r 1IZTJDJBO UP UIF 4FOBUF 1SFTJEFOU r 'PVOEFS "MPS (SPVQ PG $PNQBOJFT Minster for some of their actions and illinformed comments during September 9, 2020 strike. He expresed satisfaction at the efforts and fatherly disposition Ngige showed during their negotiations. The union went ahead to honour Ngige with the Chief Conciliator Award in 2020. After the resolution of the latest strike which NARD embarked on, they wrote the Minister to commend him on the swift manner he negotiated an end to the strike.

In an effort to preempt last month’s strike by the National Association Resident Doctors (NARD), Ngige held a meeting with the remuneration committee of the Nigeria Medical Association (NMA) on the review of hazard allowance for health workers.

Same goes for the TUC that announced him as the Best Labour Minister Award in 2019.

The recent resucitation of the National Labour Advisory CounciL (NLAC) after many years that it was abandoned is seen as the outcome of the Minister ’s dogged spirit. The Council is a tripartite council of government, labour and employers advocated in the ILO statute to help social dialogue and pave way all the time for industrial peace and harmony. Attempts were made to create budget lines in 2017 and 2018 for the re-establishment of this Council which has not been alive in the last seven years but it didn’t materialize due to national revenue shortfalls. The non functioning of the Council has been

Nobody expected that as a former governor of Anambra State and a federal legislator, Senator Chris Ngige will come to the office with such a disarming humility, wealth of experience, and hard work. The first baptism of fire that greeted Ngige shortly after his appointment was a looming national strike precipitated by the increase in the pump price of Premium Motor Spirit (PMS). Organised labour was threatening to unleash a nationwide strike that would have crippled the new All Progressives Congress-led (APC) administration but Ngige proceeded to tackle the highly volatile issue with unprecedented tact notwithstanding the resoluteness of organised labour to take on the new administration over what they considered as outrageous hike in fuel price, Ngige was able to persuade and negotiate with the leadership of the workers not to embark on a national strike

responsible for delays in addressing worker’s welfare issues and other complaints until they metamorphose into a major industrial dispute. However, the Minister was able to reconstitute the Labour Advisory CounciL and get it back to function once again in March this year. Although some of his critics said he has been more defensive of government’s positions during negotiations, the Minister ’s commitment to upholding agreements reached with unions and keeping to implementation timelines cannot be faulted. Ngige has ensured that industrial disputes are promptly managed and that strikes that would have shut down the economy and operations of governance were nipped in the bud or quickly “apprehended” as he would say. It is surprising that the ministry is able to maintain relative industrial peace despite the harsh economic environment and many unfulfilled commitments to the workers.

There is no doubt that the ministry has been able to contribute it’s quota to keeping the ship of state afloat inspite of serious challenges confronting the country. It was not surprising when the presidency recently expresed it’s appreciation of the minister s efforts through the Senior Special Assistant to the President on Niger Delta Affairs, Senator Eta Enang.

Senator Enang stated during the meeting with the leadership of the striking Judiciary and Legislative workers in Abuja that Ngige has been very sincere and passionate in seeking for lasting solution to the face-off between the governors and judiciary and legislative arms of government.

Enang said, “the minister has shown great dexterity in the handling of negotiations and I thank him for bringing the best of his skills to bear on the talks.”

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POLITICS

Discordant Tunes Trail Southern Governors Call for Restructuring Udora Orizu writes that the recent call by 17 Southern Governors for restructuring of the country is attracting diverse views among stakeholders

Akeredolu

Okowa

Umahi

Obiano

O

to foster cooperation among the Southern states and the nation at large.

Their conclusion: “We affirm that the peoples of Southern Nigeria remain committed to the unity of Nigeria on the basis of justice, fairness, equity and oneness, and peaceful co-existence between and among its peoples with a focus on the attainment of shared goals for economic development and prosperity.”

Observing that the incursion of armed herders, criminals, and bandits into the Southern part of the country has presented a severe security challenge such that citizens are not able to live their normal lives, including pursuing various productive activities leading to a threat to food supply and general security, the governors said open grazing has to stop.

“Consequently, the meeting resolved that open grazing of cattle be banned across Southern Nigeria,” they said, noting that development and population growth has put pressure on available land and increased the prospects of conflict between migrating herders and local populations in the South.

Given this scenario, they said, it has become imperative to enforce the ban on open grazing in the South, including cattle movement to the South by foot.

The governors also recommended that the Federal Government should support willing states to develop alternative and modern livestock management systems.

They added that the progress of the nation requires that urgent and bold steps be taken to restructure the Nigerian federation leading to the evolution of state police, review of revenue allocation formula in favour of the sub-national governments and creation of other institutions

which legitimately advance the commitment to and practice of true federalism.

Besides Akeredolu, other governors at the meeting were Dr. Okezie Ikpeazu of Abia State;; Chief Willie Obiano of Anambra State; Senator Duoye Diri of Bayelsa State; Chief Dave Umahi of Ebonyi State; Mr. Godwin Obaseki of Edo State; Dr. Kayode Fayemi of Ekiti State; Hon. Ifeanyi Ugwuanyi of Enugu State; and Mr. Babajide Sanwo-Olu of Lagos State.

Others are: Prince Dapo Abiodun of Ogun State; Mr. Seyi Makinde of Oyo State; and Chief Nyesom Wike of Rivers State. However, Prof. Ben Ayade of Cross River State and Mr. Adegboyega Oyetola of Osun State were absent, while Mr Udom. Emmanuel (Akwa Ibom) and Senator Hope Uzodimma (Imo State) were represented by their deputies.

management if we agree to sit down round the table. Everything will not be solved with brute force, some can be solved through social and economic intervention and diplomacy.’’

The Southern Senators Forum also encouraged the governors to swiftly follow up on their resolutions by immediately approaching the leadership of the National Assembly with a view to working with the two arms of the parliament to ensure that their well-articulated positions on the state of the nation, especially as related to restructuring, State policing and the jettisoning of archaic traditional grazing methods, are thoroughly addressed through the ongoing constitutional review exercise.

The Forum consisting of ruling All Progressives Congress (APC) Senators as well as their counterparts in the opposition Peoples Democratic Party (PDP) and Young People’s Party (YPP), commended the governors from the region for outrightly taking a firm position on burning national issues, including call for the restructuring of the nation and ban on open grazing of cattle.

A statement issued and jointly signed by the SSF Chairman, Opeyemi Bamidele (Ekiti); Secretary General, Matthew Urhoghide (Edo) and Publicity Secretary, Chukwuka Utazi (Enugu), hailed the governors for ruminating on the expediency and the need for speedy restructuring of the highly lopsided Nigerian nation.

Also, the platform of Southern members in the House of Representatives threw its weight behind the clamour for the entrenchment of true federalism in the country. The lawmakers drawn from the 17 southern states argued that the measure would lead to the devolution of power, creation of state police, review of resource control and revenue allocation formula, as well as strict adherence to federal character principle in federal appointments in the shared interests of the federating states.

The group, led by the House Minority Leader, Hon. Ndudi Elumelu, affirmed that measure remains the only guaranteed way to ensure fairness, justice, equity to engender national stability, productivity and peaceful coexistence in the country.

The members of the Minority Caucus from the North in the House of Representatives also declared their support for the Southern Governors’ resolutions.

The caucus called on President Muhammadu Buhari to heed the genuine advice of governors from the South and immediately address the nation to assuage frayed nerves.

The caucus said it was happy that the Southern governors has finally come to terms with the negative effects of open grazing, which states in the North Central and other parts of the North have been battling with for decades.

In a statement issued and jointly signed

by Hon. Amos Gwamna (Kaduna), Hon. Solomon Maren (Plateau), Hon. Rimande Shawulu (Taraba),Hon. Mark Gbillah (Benue), Hon. Tajudeen Yusuf (Kogi) and Hon. Usman Sokodabo (FCT), the caucus stressed that the decision of the governors was apt.

ver the years, the clamour for restructuring has been on the front burner of national discourse.

Public office holders including former presidents, vice president and serving and former governors; civil societies organizations, professionals and religious leaders have all made their contributions to this national issue.

For some months, restructuring has again been dominating the political landscape with political and non political actors pushing forward their ideas. This creates an impression that people are now awake to the myriad of problems currently confronting the country and are determined to find possible ways of tackling them.

Presently, stakeholders are currently placing emphasis on entrenchment of fiscal federalism, resource control, state police amongst others. The issue became topical, following the worsening insecurity and the ongoing constitution review.

The various stakeholders clamouring for restructuring and devolution of powers are of the view that it will certainly not provide all the answers to our developmental challenges; but will help to reposition mindset as citizens generate new ideas and initiatives that would make the union worthwhile. The calls to have the country restructured means that Nigerians have agreed on our unity in diversity; but that we should strengthen our structures to make the union more functional based on our comparative advantages. Leaders from the southern part of the country and some from the north believe that what can save the country from disintegration is restructuring. They are of the view that the unity of Nigeria and harmonious co-existence of the various ethnic nationalities will be strengthened by fiscal federalism and restructuring of the polity.

The current debate on the need for restructuring has generated criticisms and divergent views from various quarters. The 9th Senate and House of Representatives on resumption of office June 11, 2019 promised to review the constitution to meet the current needs of the citizens. However it was a surprise to many when last week, the Senate President, Ahmed Lawan faulted the Southern governors’ call for restructuring, asking them to first start the restructuring in their respective states.

The Call Governors of the 17 southern states under the aegis of the Southern Governors Forum on May 11 called on the Federal Government to restructure the country and end open grazing in the Southern parts of the country to curb the excesses of armed herders.

The governors also called on the Federal Government to convoke a national dialogue as a matter of urgency.

This was contained in a communique issued at the end of their meeting in Asaba, Delta State capital. In the 12-point communiqué, the governors reviewed the situation in the country and deliberated on the current security situation, agitations, restructuring, prospect for inter-state collaboration and partnerships.

They said in the communiqué, read by the Chairman of the forum and Ondo State Governor, Mr. Oluwarotimi Akeredolu, that they resolved

Support from the House, Southern, Northern Minority Caucuses of the National Assembly Following the governors declaration, the Spokesperson of the House of Representatives, Hon. Benjamin Kalu said the parliament supports the call by Southern governors for restructuring.

Kalu in chat with THISDAY said the House supports it as it will ensure efficient delivery of service to the people.

He said, ‘’We are also supporting the idea of devolution of powers from the centre to the federating units, for efficient delivery of service to our people. We believe that if the federating units are made to be very strong there will be job opportunities, unity, national loyalty and so many other benefits. I’m proud of the governors who were able to come together to dialogue. The truth remains that we will achieve a lot in conflict

Chairman of the forum and Ondo State Governor, Mr. Oluwarotimi Akeredolu, that they resolved to foster cooperation among the Southern states and the nation at large. Their conclusion: “We affirm that the peoples of Southern Nigeria remain committed to the unity of Nigeria on the basis of justice, fairness, equity and oneness, and peaceful co-existence between and among its peoples with a focus on the attainment of shared goals for economic development and prosperity. Observing that the incursion of armed herders, criminals, and bandits into the Southern part of the country has presented a severe security challenge such that citizens are not able to live their normal lives, including pursuing various productive activities leading to a threat to food supply and general security, the governors said open grazing has to stop. Consequently, the meeting resolved that open grazing of cattle be banned across Southern Nigeria,” they said, noting that development and population growth has put pressure on available land and increased the prospects of conflict between migrating herders and local populations in the South. Given this scenario, they said, it has become imperative to enforce the ban on open grazing in the South, including cattle movement to the South by foot

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ANNUAL GENERAL MEETING

L-R: NationalTreasurer, Chartered Institute of Bankers of Nigeria (CIBN),Mr. Dele Alabi; FirstVice President, Dr. Ken Opara; President/ Chairman of Council, Dr. Bayo Olugbemi; Chief ExecutiveOfficer,Mr.SeyeAwojobi;andSecondVicePresident,Prof.PiusOlanrewaju,atthe2021CIBNannualgeneralmeetingheldinLagos...recently

Agusto & Co Forecasts $22bn Diaspora Remittances for Nigeria in 2021 Obinna Chima Pan-African credit rating agency, Agusto & Co has projected that Nigeria’s diaspora remittances will reach $22 billion by 2021, representing a year-on-year (y-o-y) rise of five per cent.

The Lagos-based firm stated this in its “2021 Nigeria Diaspora Remittance Report & Survey,” presented to members of the public.

The report anticipated a further y-o-y rise of two per cent in remittances inflow to $22.5 billion by 2022.

According to the report, Nigeria’s diaspora remittances dropped by 12 per cent to $21 billion in 2020, from about $23.8 billion the prior year.

Head of Research at Agusto Consulting, Mr. Jimi Ogbobine, while speaking during a webinar on the report, explained that the Nigerian diaspora remittances is still an under-researched subject despite its strong bankability credentials.

He said there have been very few target-market studies on

ECONOMY diaspora remittances in Nigeria, adding that Agusto Consulting adopted a strategy by initiating research on bankable markets with poor research coverage.

Remittances are funds transferred from migrants to their home country. They represent household income from foreign economies arising mainly from the temporary or permanent movement of people to those economies. Remittances play important roles in the economy, helping to meet the basic needs of recipients, fund cash and non-cash investments, finance education, foster new businesses, service debts and drive economic growth.

“Previous studies have also shown that about 70 per cent of remittances are used for consumption purposes, while 30% of remittance funds go to investment-related use,” Ogbobine explained.

He pointed out that Africa’s estimated migrant remittances of

$78.3 billion in 2020 represented a modest 12 per cent of the global migrant remittances.

“However, only two states within the continent represent about three-fifths of the continent’s entire migrant remittances.

Egypt’s diaspora remittances of $24.4 billion in 2020 is not only the largest in Africa but also represents about a third (31.1%) of the continent’s entire migrant remittance.

“Nigeria ranks behind Egypt with $21 billion which represents about a quarter of the continent’s global remittances. Morocco driven by its large French diaspora represents about eight per cent of the continent‘s remittance inflows with $6.3 billion.

Zimbabwe continues to suffer the effects of the dysfunction in its forex regime,” it added.

According to the report, all of Africa’s top seven diaspora recipients experienced dips in remittance inflows in 2020, barring Kenya alone which grew by 2.8 per cent.

It revealed that Nigeria recorded the worst contractions

amongst Africa’s top seven in 2020 of about 11.9 per cent.

“Nigeria’s domestic policy conundrum on foreign exchange creating as much challenges to the wider macro contractions caused by the pandemic.

Outside Nigeria and Kenya, the other states within the top seven bracket experienced varying degrees of contraction in diaspora remittances of between five per cent to 9.4 per cent in 2020,” it added.

Diaspora remittances to Africa declined by an estimated 12.5 per cent in 2020 to $42 billion, almost entirely due to a 27.7 per cent decline to Nigeria, which accounts for over 40 per cent of such flows to the region, the World Bank recently disclosed.

The Bank, in its latest Migration and Development Brief, revealed that excluding Nigeria, remittance flows to Africa increased by 2.3 per cent with a 37 per cent growth reported in Zambia, Mozambique (16 per cent), Kenya (9 per cent) and Ghana Continued on page 26

Expert Seeks End to Destruction of Public Infrastructure Chinedu Eze The President of Aircraft Owners and Pilots Association of Nigeria and Managing Director, CEO of Smile Air, Alex Nwuba has reacted to the recent vadalisation of parts of the Itakpe-Warri rail line.

He condemned the destruction of the rail line, noting that many citizens do not feel a sense of justice and partnership in the Nigerian project; hence they are detached from government and its policies.

Therefore, said governments at all levels must give the citizens a feeling of ownership by making host communities of

ECONOMY public infrastructure responsible for the protection of such facilities in their area.

Nwuba explained that majority of Nigerian citizens are alienated so they do not have a feeling of government presence in their lives; rather, they see government as a distant creation and fail to realise that infrastructural facilities such as rail, road, hospitals, schools and others are meant for their benefits.

He also recommended that governments at the federal, state and local councils should

reconnect with the people so that they will have a sense citizenship and patriotism and see government projects as their projects, which they have the duty to protect.

The Managing Director of Smile Air wondered what would have happened if the vandals were not seen and train inadvertently moved through the broken rails, remarking that it would have derailed and ended in tragic accident.

He explained: “This moment captures for me the condition of a country called Nigeria, a place where the government has invested heavily in infrastructure and nothing in justice.

“The track thieves tell the entire story, you can build great infrastructure, but of what value is that if the people that ride on it will ultimately die because some people steal the tracks?

It is telling that disaster was averted by the police before the train came; the country itself is on the same track; how do we prevent a crash?”

He noted that government has invested heavily in infrastructure including the rail system, saying it appears no investment in justice without which the track thieves operate with impunity.

Ecobank Nigeria Limited and Vanguard Economic Forum Series have announced that they are convening an MSME virtual summit to promote and encourage lending support for micro, small and medium enterprises (MSMEs) in the face of changing operating environment in the country.

The virtual summit with the theme: ‘Unlocking Credit Growth in a Changing MSME Lending Landscape,’will be broadcast and streamed live via zoom platform scheduled for May 21st.

The conference in strategic partnership with Nigerian Association of Small & Medium Enterprises (NASME) and Small & Medium Enterprises DevelopmentAgencyofNigeria(SMEDAN)willconvenekeynotespeakers and panelist from regulatory agencies of government, policy decision makers, non-governmental organisations (NGOs), business and industry thought leaders. The speakers and panelists carefully drawn from the banking, trade associations and other key sectors of the economy are subject matter experts in MSMEs and lending.

Confirmed speakers include Managing Director/Chief Executive, Bank of Industry (BoI), Mr Olukayode Pitan; Director General, Small and Medium Enterprise Development Agency (SMEDAN), Dr. Dikko Rada; Executive Director,FateFoundation,AdenikeAdeyemi;ExecutiveSecretary,Nigerian Association of Small & Medium Enterprises (NASME), Eke Ubiji, and a representative of Central Bank of Nigeria (CBN), amongst others.

The Guest Of Honour will be the Special Adviser to the President on Ease of Doing Business, Jumoke Oduwole, while Patrick Akinwuntan, Managing Director of Ecobank Nigeria will be the Chief Host.

Announcing the conference in a statement, Country Head, SME Ecobank Nigeria Limited, Emeka Agada, said the summit as a thought leadership content platform would deeply dialogue on the critical role of MSMEs as the economic engine room of any prosperous nation and the need to support the sub sector with capital, including examination of key issues and ways of achieving the objective through digital financial inclusion for the MSMEs.

Nigerian Breweries Appoints Essaadi MD

The Board of Directors of Nigerian Breweries Plc has announced the appointment of Mr. Hans Essaadi as the new Managing Director of the company with effect from July 31, 2021.

He replaces the current MD/CEO, Jordi Borrut Bel, who has completed his assignment in Nigeria and has been appointed as MD/CEO for Heineken South Africa. In a statement to the Nigerian Exchange Limited, the board expressed gratitude to Bel, who it stated, “successfully cemented the company’spositionasmarketleaderinachallengingoperatingenvironment,” and also steered the company through a turbulent period, caused by the negative impact of the COVID-19 pandemic in Nigeria.

TheincomingMDisthecurrentManagingDirectorofAlHaramBeverages, the Heineken Operating Company in Egypt. He joined the Heineken Group as a Sales representative in 1991 and rose through the ranks, assuming various senior roles within the Group in Sales, Export and Marketing.

He commenced his international career with Heineken Puerto Rico as the CountryManager,andthereafterbecametheGeneralManager,BrauUnion International (Austria). Before his current role in Egypt, he was General Manager, Siroco (the Heineken Joint Venture with the Emirates in Dubai) and Managing Director, Heineken Malaysia Berhad, a listed Company in Malaysia.

CHI Celebrates ‘Hollandia Day

Nigeria’s dairy brand, Hollandia, is set to hold the maiden edition of its HollandiaDairyDay.TheeventwhichwillbecelebratedonMay18,2021,will provide a veritable platform to drive national discourse on the unrivaled health and nutrition benefits of dairy consumption to people of all ages.

Set to be hosted as a conference, the theme of this year’s event is, “Dairy Nourishment to Support Healthy Living,” and it focuses on the vital role dairy consumption plays in everyday nourishment, its benefit to overall health, and why dairy products should be included in diets every day.

According to a statement, the conference which was designed as a hybrid of physical and virtual event, would feature presentations, interviews and panel discussions from health experts and nutritionists as they provide insights and share perspectives to guide informed decisions about dairy consumption as part of a daily balanced diet.

“We have identifiedAfrica to be a vast pool of opportunities with over 370 million unbanked adults, $9.2 billion in remittances and cross border payments, 89 cities of over 1.3 billion inhabitants by 2025 and the overallAfrican financial ecosystem” GMD/CEO, Access Bank,

Continued on page 26

Herbert Wigwe

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BUSINESSWORLD AGUSTO & CO FORECASTS $22BN DIASPORA REMITTANCES FOR NIGERIA IN 2021 (5 per cent).

It stated: “Remittances to Sub-Saharan Africa declined by an estimated 12.5 per cent in 2020 to $42 billion. The decline was almost entirely due to a 27.7 percent decline in remittance flows to Nigeria, which alone accounted for over 40 per cent of remittance flows to the region. “Excluding Nigeria, remittance flows to SubSaharan African increased by 2.3 percent. Remittance growth was reported in Zambia (37 percent), Mozambique (16 per cent), Kenya (9 per cent) and Ghana (5 per cent).”

In 2021, remittance flows to the region are projected to rise by 2.6 per cent, supported by improving prospects for growth in high-income countries. The report noted that data on remittance flows to Sub-Saharan Africa are sparse and of uneven quality, with some countries still using the outdated Fourth IMF Balance of Payments Manual rather than the Sixth, while several other countries do not report data at all.

Giving further insight, the report said: “High-frequency phone surveys in some countries reported decreases in remittances for a large percentage of households even while recorded remittances reported by official sources report increases in flows.

EXPERT SEEKS END TO DESTRUCTION OF PUBLIC INFRASTRUCTURE

“Nigeria operates with laws in the books that appear to be made for some and not for others, the government has a special class of citizens that must be protected, no matter their crimes and others that should be pilloried; even if they committed no crime.

“Injustice is nothing more than doing what is not morally right or fair both of which are often at the pleasure of the actor. The consequence is that those that have nothing to lose have everything to gain by misdeed and all feel the consequence,” Nwuba said.

NEWS

Stakeholders Bemoans Bala-Usman’s Suspension Eromosele Abiodun Stakeholders in the nation’s maritime sector have lamented the alleged lack of adherence to due process in the suspension of the embattled Managing Director of the Nigerian Ports Authority (NPA), Hadiza Bala-Usman.

The stakeholders who spoke in separate interviews said the suspension was unjustified, describing it as a setback for women inclusion in the maritime sector.

The suspension, they added, could slow down the reforms made so far in the industry.

The stakeholders also opined that the suspended MD should have been giving fair hearing urging that she should not be rubbished out of office for individual political interest.

Speaking with maritime with newsmen in Lagos, the immediate past President of Women’s International Shipping & Trading Association (WISTA), Mary Hamman explained that due process ought to have been followed in the suspension of Bala-Usman as Managing Director of the Nigerian Ports Authority.

According to the former WISTA President, “The Minister of Transportation, Rotimi Amaechi said he is not aware of what is going on in the NPA since 2016, and that’s why he set up that 11-man panel. To me, it’s good for the suspended Managing Director because if her hands are clean, she will be exonerated. If otherwise, then she will face the music.”

She added, “The only aspect I frown at is her not being queried before getting suspended. I am

Obinna Chima

Capital Market Editor

Goddy Egene

Comms/e-Business Editor

Emma Okonji Asst. Editor, Money Market Nume Ekeghe

Goddy Egene The stock market gained N147.6 billion as the bulls regained control of trading last week.

Although trading was for only three days in the week under review, due the public holidays on Wednesday and Thursday, buying interests in banking stocks made the market to close higher.

Specifically, the market capitalisation rose from N20.432 trillion to

Correspondents

Chinedu Eze (Aviation) Eromosele Abiodun (Maritime) James Emejo (Finance) Ebere Nwoji (Insurance) Chineme Okafor (Energy) Emmanuel Addeh (Energy) Reporters

Nosa Alekhuogie (ICT) Peter Uzoho (Energy)

the allegations has not been substantiated.

“If an allegation is made, you should allow the person to defend herself rather than suspending her.

This suspension is to ridicule the whole maritime sector. “For me, it’s a very unfortunate situation.

We were thinking that NPA has arrived taking cognizance of what the woman is putting in place.

She has been the one making moves to reform the industry.

“A lot of things that were not done before now were now being done, take for example, the automation and seamless

operations of the NPA. If they just push her out like that, I see a setback to the reforms. Despite several intimidations, she has continued with her work. Even during the EndSars protest, she did not relent, only for her to be rewarded this way, ”he bemoaned.

Also speaking, the President of the National Association of Government Approved Freight Forwarders (NAGAFF), Increase Uche, said Bala-Usman’s removal was a setback to campaign for women inclusion in government and the maritime industry in particular.

COURTESYVISIT

L-R:GroupHead,BusinessBanking/SMEs,FirstCityMonumentBank(FCMB),Mr.GeorgeOgbonnaya;CompanySecretary/GeneralCounsel,Mrs.Funmi Adedibu;FirstLadyofOgunState,Mrs.BamideleAbiodun,ActingManagingDirectorofFCMB,Mrs.YemisiEdun;Headofthebank’sSheVentures,Ms.Yetunde MoitoandRegionalHead,South-west,Mr.EmmanuelComla,duringacourtesyvisittothemanagementofFCMBbytheFirstLadyofOgunStateatthebank’s headofficeinLagos...recently

N20.579 trillion while the Nigerian Exchange Limited (NGX) All-Share Index (ASI) rose by 0.72 per cent to close at 39,481.89.

However, market analysts said the positive trend might not be sustained this week, predicting that profit taking would set in.

“In the week ahead, we do not think the bulls will repeat the flawless victory that ensued this week as the bears are likely to book profit across most counters.

Consequently, we see more of a “choppy theme” as cautious trading takes centre stage ahead of a critical MPC meeting scheduled later in the month.

“Notwithstanding, we advise investors to take positions in only fundamentally justified stocks as the weak macro story remains a significant headwind for corporate earnings,” analysts at Cordros Securities said.

However, market turnover for

last week was 840.334 million shares worth N9.561billion in 13,239 deals, down from 1.419 billion shares valued at N15.918 billion that exchanged hands in 18,459 deals the previous week.

The Financial Services Industry remained the most traded with 541.015 million shares valued at N5.493 billion traded in 7,824 deals, thus contributing 64.38 per cent and 57.45 per cent to the total equity turnover volume and value

respectively. The ICT Industry followed with 90.382 million shares worth N571.642 million in 500 deals. The third place was occupied by the Conglomerates Industry, with a turnover of 84.792 million shares worth N512.775 million in 551deals.Trading in the top three equities, Access Bank Plc, Zenith Bank Plc and Etranzact International Plc, accounted for 284.924 million shares worth N3.470 billion in 2,533 deals.

PMG Highlights Impact of Technology on Postal Services Consumers The Postmaster General (PMG) of the federation, Dr. Ismail Adebayo Adewusi, has assured consumers of postal services in local communities across the country that post offices have become veritable channels through which social, financial, economic and digital opportunities could be extended to them. He reassured local communities of the overall

impact of technology on consumers of postal services through the array of products and services that have been created by the recent unbundling of the Nigerian Postal Service (NIPOST) into three different companies, specialising in various core areas of services.

The Postmaster General said this at the weekend, while delivering a keynote address during the unveiling of Eredo Post Office in Eredo Local Council Development

Area (LCDA) in Eredo community, Ilara, Lagos State.

Adewusi who was represented by the Zonal Manager, NIPOST Lagos Zone, Mrs. Toyin Egbesola, said the unbundling of NIPOST into NIPOST Property and Development Company, NIPOST Transport and Logistics Company and NIPOST Microfinance Bank, would leverage technology to serve consumers of postal services in various communities across the

country.

“With our array of products and services, the overall impact of technology on consumers of postal services cannot be overemphasised.

The people of Eredo community will therefore in no distant future, begin to enjoy the dividend of post office in their community,” Adewusi said.

He urged the community to begin with the patronage of the post office by acquiring post office

boxes (P.O. Boxes) and Private Mail Bags (PMBs) for organisations, as a first step to consolidating the partnership between NIPOST and Eredo community.

Chairman of Eredo LCDA, Adeniyi Rasaq Saliu, who performed the unveiling ceremony, commended the royal fathers and chiefs of Eredo LCDA for their support in ensuring the establishment of a post office in Eredo community.

Customs Engages Smugglers in Botched Officer’s Abduction Eromosele Abiodun

Senior Correspondent

Raheem Akingbolu (Advertising)

process.”

Also speaking on the development, the Coordinator, Save Nigeria Freight Forwarders, Dr. Osita Chukwu described the suspension as unjustified.

He said the suspension was a ridicule on the nation’s maritime sector especially now that Nigeria is recording gains among comity of nations due to her reform processes.

Osited posited that Bala-Usman has been making steady progress in the sector and does not deserve such treatment from the Nigerian government, especially when

Equities Market Gains N148bn as Bulls Regains Control

Emma Okonji

Group Business Editor

a retired civil servant and think that in line with civil service rules, she should have been queried first, and allowed to respond to the query before any action will then be taken on her situation.

“They should have followed due process because before you say somebody should go on suspension, she ought to have first being queried and allowed to respond to the query. Her tenure has just being renewed, so without allowing her to know what she has done wrong and even given the opportunity to respond before suspension shows a lack of due

The Nigeria Customs Service (NCS), Federal Operations Unit (FOU), Zone A, Ikeja has said that it neutralised three smugglers who planned to abduct an officer who was on duty in Oyo State.

In a statement by the Command’s Public Relations Officer (PRO), Theophilus Duniya, the unit said the smugglers were on

the verge of abducting an injured Officer after seizing his rifles during interception of smuggled rice in Oyo. The assailants, he said, had taken the injured officer with his rifle before his team members acted in self-defense to rescue their injured colleague. According to him, “At about 1500 hours of Thursday, 13th May, 2021, some dare devil smugglers mobilised

themselves with the help of some thugs; attacked a patrol team serving with Federal Operations Unit Zone A, who were on lawful duty at Iseyin. “The officers who were on routine patrol intercepted two Nissan Pathfinder SUV vehicles fully loaded with smuggled foreign parboiled rice at Iseyin. Sequels to the interception, the officers were attacked by a mob that was mobilized by the smugglers. “The mob attacked the

officers with dangerous weapons which led to the infliction of serious injuries on two officers. In an attempt to abduct one of the officers that was brutally attacked; that sustained deep cuts on his head and other parts of his body.

“The assailants had taken the injured officer with his rifle before his team members whom acted in self-defense, shot at his suspected abductors leading to the death of

three of them before he was rescued and taken for immediate medical attention. The officers were able to successfully evacuate the intercepted smuggled rice, while the injured officers are currently receiving treatment, “he said.

He lamented the criminality of obstructing and attacking officers on lawful duty, describing it as a venture that yields no good for all including the Service.

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NIMN Sets up Disciplinary Tribunal to Deepen Marketing Practice Raheem Akingbolu The National Institute of Marketing of Nigeria (NIMN) has inaugurated a Disciplinary Tribunal and Investigating panel as dictated by the NIMN Act 25 of 2003. The move is expected to help develop a strong and

professional marketing institute.

Speaking at the swearing-in ceremony of panel members in Lagos, the President and Chairman of the Council, Tony Agenmonmen, said the Tribunal has full status of a court except that it can only try marketing practitioners for infamous conduct relating to

breaches of the provisions of the NIMN Act and the NIMN Code of Professional Marketing Panels.

Agenmonmen noted that appeals relating to directions of the Tribunal can only be lodged at the Federal Court of Appeal.

In the same development, the President announced the institute’s

plans and readiness to hold its 2021 annual marketing conference, Annual General Meeting (AGM), as well as 2021 Council elections.

Agenmonmen disclosed that this year’s event would hold physically on May 27th and 28th in Lagos State, with protocols of the COVID-19 be-

ing strictly observed. He stated that this year’s annual marketing conference with the theme: “SMEs in Post-Covid -19 World,” was prompted by the knowledge that SMEs play indispensable roles in the economic and social lives of the nation, in the creation of employment, alleviation of pov-

erty, and immense contribution to the nation’s gross domestic product (GDP). Stressing further, the president said: “It is therefore important to bring to the fore, the challenges being faced by these SMEs in the country which has been exacerbated by the Covid-19 pandemic.”

Unicane Industries Completes Plant Expansion Foremost ethanol producer, Unicane Industries Limited has announced the completion of the second phase of its plant expansion in Lokoja, Kogi State.

The feat according to a statement from the company has made it the largest ethanol producer in Africa, whilst boosting national sufficiency and export of Extra Neutral Alcohol (ENA) in Nigeria.

“The plant expansion which was completed on schedule by second quarter of last year amidst

the heavy impact of the COVID-19 pandemic and ensuing economic lockdown, has seen Unicane Industries Limited, producing about 420,000 litres of ENA per day and translating to its achieving a production height of nearly an annual capacity of 140 million litres that compares with the highest international standards,” it added.

The statement from Unicane Industries Limited Executive Director, Mr. Uzor Kalu, noted that by the feat, the total national ENA

capacity has now far exceeded national consumption when added to the production from other locally based manufacturers, thus eliminating the need for ethanol imports and making Nigeria rather an exporter to other African countries.

The Executive Director stated that it was, “indisputable that the Unicane group has continuously led and defined the ethanol industry in the country through the investing of tens of billions

of naira in plant and machinery as well as built capacity,” adding that in its 100 years of existence and active engagements in the country’s manufacturing and export activities, the group has evolved from import reprocessing to upstream integration of local sourcing of raw materials of cassava, cashew apples and sugar cane molasses.

Kalu explained that Unicane Industries Limited acquired an expanse of land in Jamata, a fringe

village to Lokoja in Kogi State and set up a state-of-the-art local cassava fermentation-to-distillation 420,000 LPD capacity plant of ENA from 100 per cent locally sourced raw materials.

This achievement, he noted, “has revolutionised cassava farming in Nigeria, turning cassava from a mere subsistence crop to a lucrative cash crop that is economically empowering the farmers, which attainment, resonates highly with the federal

government’s policy drive to deepen the agricultural sector for improved national economic gains.”

Kalu, further stated that following the plant completion, Unicane aims to grow value addition by drumming for local and export sales, and process downstream into derivatives and sub-products of ethanol, adding that already, the company has notably made sanitizer production in Nigeria import-independent.

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Orji: NSIA Won’t Allow Innovations Go to Waste The Managing Director/Chief Executive Officer of the Nigeria Sovereign Investment Authority, Mr. Uche Orji, in this interview with journalists spoke about activities of the authority in 2020, as well as its plans for the future. Obinna Chima brings the excerpts: What is the feedback on your investment in healthcare; are the facilities being accessed by those who really need them and what commitment have you made towards gas industrialisation and the power sector?

In healthcare, the feedback has been good.

Some people I know have been there and didn’t know that it was owned by the NSIA. But when they found out they called me and said that is a great. A former Minister during the first Buhari administration went there recently and he went public with his comments. So, the feedback has been good, especially in Kano. Somebody called me from there, one of the Emirs in Jigawa, who had been there, without knowing that it was owned by the NSIA, when he found out, he was so complimentary.

Some people who have been to the Lagos University Teaching Hospital (LUTH) cancer centre were surprised about how relatively inexpensive it is compared to Ghana. Ghana for the same cost of treatment, I dare say our treatment is superior, will cost you five times as much as what is obtained at LUTH. This is not even compared to going to Dubai or to Europe. I hope that nobody has to use it, but if you do have to use it, it is there. We have some of the most sophisticated equipment in terms of cancer treatment for both chemotherapy and radiography. For gas, the OCP ammonia project and Diammonium Phosphate is a gas industrialisation project, which is $1.4 billion. We have selected the site and Akwa Ibom state and the NSIA signed an agreement in Morocco in March. We are hoping to break ground some time later this year to commence that project. We have looked at gas flare reduction and we keep looking at projects. The first project we spent a lot of time on wasn’t successful, luckily we did not spend much money on it. But we are still hopeful that we would get the gas flare reduction projects going. It is a very key part of Nigeria’s management of climate change issues.

Now for power, many of you know that the NSIA is building the single largest solar power plant in Nigeria today and it is in Kano, with 10 megawatts capacity and we are setting up a platform with international Development Finance Institutions (DFIs) to now distribute it across various parts of the country. So, these are the things we are doing so far. There are many things happening in power that I believe 2021 will be a good year for us in power. We haven’t been very active in power; many of you also know that NSIA is an investor through a gas fund into Accugas, which is a major supplier of gas across the country. It was a debt instrument that we invested. So, we have been very active in this area. But I think 2021 will be a very interesting year for us in terms of gas investment.

What is the update on the N15 trillion infraco which the NSIA is part of?

The NSIA has been invited as an investor and I am sitting on the board of it. But the NSIA is an investor, this is a programme championed largely by the Central Bank of Nigeria, so I would rather not like to speak about it.

With your investment in fertilizer, rural farmers still find it difficult to access the product, how are you monitoring the situation?

The fundamental premise of the presidential fertilizer initiative is to get large amount of fertilizer on time at appropriate price to the farmers. With the restructuring of the NSIA, our participation is limited to upstream component which essentially means that we buy inputs from suppliers and sell to the blenders who essentially are responsible for transporting to the blending plants for blending as well as selling to the farmers. We are working very closely with the association and the Presidency to ensure

it 375 kilometers. So if you do it cost per kilometer per lane, from what I did, it is actually around N525 million per lane, per kilometer. When we took over Lagos-Ibadan expressway, the dash was about N530 million per lane per kilometer. So, simplistically, they are similar and that is being sincere with the facts. So, the propaganda of the most expensive road in the world is just not correct. And I think want to speak to that, think per lane per kilometer. I don’t think many people have spoken about how many lanes are there, or the length of the road. So, I think it’s important to clarify that and the rest of the details around this.

Like I said, the scope has just been revised by the Ministry of Works. I believe that they are going to have a town hall, where they will explain everything around the cost to members of the public because I think it is important. From what I have seen. The lane per kilometer is not different from what we have on Lagos-Ibadan expressway. I think it is important that we make that point.

orji that all of the inputs that are purchased by blenders from us are actually utilised for the purposes of conversion into finished goods. So that work is ongoing, and we would ensure that as much as possible by working with association and the Presidency, that blenders actually utilise the inputs for what it has been committed to which is to convert those inputs into finished goods.

What is the total equity and debt that will be raised for the Nigeria Innovation Fund this year?

The first round of equity injection by the board of the NSIA is up to $50 million into the innovation fund. We are not going to raise debt, we are going to raise co-investments.

So, we are going to create opportunity for other people to partner with us. But our strategy will be to invest equity in the first few key projects and then open it up for people to partner with us. We have had a lot of interests; we have had interests from big and small firms as well who want to play a role in the Nigeria innovation sector. Fintech is something a lot of people are excited about, but there is a lot more innovation than fintech.

One of the most interesting investments we made at NSIA is in a company called Healthcare Royalty Partners in the United States and what they do is that they go to universities and buy patents for healthcare; they fund it, finish it up and then sell those patents to pharmaceutical companies. So wherever they use them for drugs, they get paid. So, it has been a very successful strategy and one of the things I am hoping we can do in innovation, beyond technology, is actually

to create such a thing where we actually would not allow innovations in Nigeria to go to waste. There things in data networking, the quality of the internet have been terrible today for many people. Watch that space because you are going to see us play active role in that space. Data centres, for instance, are fantastic opportunities that we would be looking to invest in; Software services among others. So, there is a lot going on but I think many of them at this stage, we will use our own equity first and then bring in other investors.

The NSIA is making huge impact in agriculture and healthcare, would you in any time soon think of investing in the revival of the Ajaokuta steel company?

There are all kinds of programmes being done by the Ministry of Solid minerals to revive Ajaokuta; if we are invited to help and we see a scope to join, absolutely, we are very interested in that because it is also a very important sector that we need as a country to industrialise.

There has been comments about the cost of Abuja- Kano road, why is it about the most expensive road in the world?

It is not the most expensive road in the world and that statement is wrong. When you look at the cost of the road, the basic mathematics is cost per kilometer per lane.

I saw some of the headlines, but this is an explanation I believe the Minister of Works should be giving because it is his project.

But let me just help with the maths a bit, ask yourself, what is the length of the road and how many lanes? It is two lanes, one lane going and one lane coming and

Do you have fears about the safety of your Nasarawa farm in view of the ongoing security crisis especially the farmers-herdsmen crisis and secondly, Nigeria’s Dr. Ngozi Okonjo-Iweala recently assumed the position of the WTO Director General, do you see a window of opportunity for the NSIA in this appointment?

In terms of Nasarawa, I think my bigger fear is that if we don’t have food we will all starve. So, security issue or no security issue, we still have to go and grow crops.

Because if all of us decide not to grow anything because of security challenges, we will have a bigger problem, which is starvation. So, we have done all we can to protect the farm, I have no guarantees, but it is not going to deter us from making an effort and will continue to do more in Kaduna, Edo and in all places that we have commitment in agriculture. In terms of WTO, first of all, let me use this forum like everybody to congratulate Dr. Ngozi Okonjo-Iweala. We are all very proud of her and we are very proud of the challenge she has undertaken. WTO needs her energy, her zeal and passion and her vision. And I also believe the WTO should be fair to Africa and I am hoping that she will make that as a key part of her agenda. If it is fair to Africa, then we will be in a very good position at the NSIA. The key area where I see opportunity is industrialisation.

Many of you have heard me talk about Industrialisation Fund, and one day I will make that fund real. But I am hoping that when we do, we don’t have unfair trade practices that will stop our goods from making in-road into other parts of the world. So that I think will be very important, but we need to prepare ourselves first and be industrially ready to trade. The second area where I believe WTO will help is also in drawing attention to fairness around what people pay for our commodities. This I think the WTO should address and we must make sure that what is taken out of Africa has a fair price. It is something I believe should be generally addressed.

So there opportunities, but particularly, I think she is taking us to the world stage and we are very, very proud of her.

Last year, you talked about plans by the NSIA to embark on the fundraising drive this year, when are we expecting that to happen?

I believe we will be coming to the market this year and most likely we would be coming to the market via a Sukuk; probably something for the road project. So, watch this space.

We are in preparation for raising a Sukuk fund to help us conclude the road project.

How much perhaps you are looking to raise?

It won’t be small, let me put it that way.

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T H I S D AY ˾ ͯ͵˜ ͰͮͰͯ

Wema Bank Unveils Hackaholic Bootcamp Winners Nosa Alekhuogie Wema Bank’s Hackaholics 2.0, an acceleration aimed at helping startups scale and gain entrance into the market, has announced winners of its bootcamp competition, held in Lagos recently.

With the theme: “Connecting Worlds,” the Acceleration Programme was a two-day virtual pitch which ran from October 30 - 31, 2020, for 20 participants across five industry pillars Fintech, Agritech, Edutech, Gaming, and Healthtech, who qualified from a pool of over 100 entries received.

The bank presented

four startups comprising two people each with N2,187,500.00 startup fund. The winners emerged across each industry after a four-week Bootcamp under the supervision of a best-in-class acceleration curriculum delivered by seasoned faculty and tech specialists from GreenHouse Capital, official partners of the event.

The Managing Director/CEO, Wema Bank, Ademola Adebise, congratulated the winners and expressed satisfaction with the quality of competition and the entire process.

“We are happy to see the winners emerge and are

positive that you guys will be the unicorns of tech solutions in the next couple of years. For us at Wema Bank, we will continue to support innovations and innovative ideas, support our youths, and support our women to thrive. We believe that is the way to go and significantly grow and support the economy,” Adebise said.

For the Fintech category, Oladayo Awotukunbo of Plumpter, won. It is a Fintech brand that created a marketplace for secure payments to foreign parties and quick banking.

For Gaming/Betting category, Ernest Akinlola

and Obayemi Okubajo of My Lotto Hub, won. It is a digital startup pioneering the aggregation of lottery operators and enabling lottery punters to manage all their operations in a single platform.

Aderinola Amole and Olamide Oyinlola of FarmSquare, won in the Agritech category. Their brand focuses on using the e-commerce model to simplify the demand and supply of Agricultural inputs in Nigeria. Uche Udekwe and Joy Chioma of Natal Cares, won in the Healthtech category, which is a startup with a product that optimises the

healthcare value chain to reduce the high mortality rate for pregnant women and children.

Speaking at the event, Chief Financial Officer, Wema Bank, Tunde Mabawonku, reinforced the internal and external growth integration stance of the bank saying. According t9 him, “We realized very early that financial service delivery has moved beyond bricks and mortar physical interactions, hence, at Wema Bank we repositioned internally, invested strategically and heavily in technology to drive Digital Optimization of our services.”

Chief Digital Officer, Wema Bank, Segun Adeniyi, emphasised the importance of the bank’s sustainability footprints. “We aim this initiative at deepening the impact of innovation in the ecosystem and create an opportunity to drive that ecosystem. There is a plethora of start-ups and innovators out there who don’t have the right environment to upscale those ideas into commercial value,” Adeniyi said.

All the winning startups expressed gratitude to Wema Bank for the seed fund and commended the bank for the initiative.

SOLAD Connects 10,000th Business to Affordable Power Raheem Akingbolu The Solad Power Group said it has connected its 10,000th small business to affordable and reliable power across its portfolio of mini-grids in Nigeria, marking a significant milestone in its growth and development.

Solad is a participant in Nigeria’s Rural Electrification Agency (REA) Mini-Grid component under the Nigeria Electrification Project (NEP). The company is a

core investor in the Sura shopping complex, the Sabon Gari Market and a joint venture partner in the Virtus portfolio of decentralised energy projects across the country.

Collectively, Solad is an investor in, or operator of, 12 mini-grids across Nigeria, each of which provides clean, affordable and reliable power to market traders.

Solad focuses on underserved segments of the energy market, prioritising

support for the millions of small businesses who struggle with access to unreliable or prohibitively expensive energy solutions.

To accelerate access, Solad has expanded the scope of its operations to include the provision of solar technology solutions for individual businesses, which will be rolled out alongside its integrated mini-grids.

An order for the first

systems has been placed, with the roll out expected to begin in June 2021. The company was approved as a Solar Home Systems (SHS) supplier by the Rural Electrification Agency (REA) in December 2020 and is now eligible for the Output Based Grant available under the Nigerian Electrification Project (NEP).

Under the grant system, SHS suppliers are refunded 20 per cent for every system installed, as an

incentive to support the programme’s target of powering one million households and 90,000 SMEs. The individual solar systems will be rolled out in markets that SOLAD has identified as part of its expansion programme and will enable businesses to access power immediately.

Interested businesses are encouraged to register on the solad website.

Commenting on the agreement, Solad Power

Group’s Chief Operating Officer and Chief Executive Officer for Nigeria, Yewande Olagbende said connecting 10,000 small business was an achievement the company was proud of, adding that it was a clear validation of the unmet demand for affordable and reliable power amongst Nigeria’s millions of small businesses.

He however pointed out that this current development is just the beginning of a journey.

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Bala-Usman: Perils of Championing Reforms, Fighting Corruption in Nigeria John Ikyaave

T

aking a stand against corruption and in defense of the national interest is a tough and risky call. Patriotic technocrats and principled Nigerians who head critical public institutions and chose to uphold the tenets of transparency, accountability, while leading historic reforms to make a difference put their lives, families, and reputations at great risk.

This is because corruption is not only entrenched but also pretty skilled at fighting back. More so, vested interests and their agents - in high and low places – that seek to plunder the commonwealth in pursuit of selfish agendas possess such a fierce capacity and willingness to use all means necessary to destroy those who stand in their way.

Consider the recent trials of one of the stars of the Buhari administration, Ms. Hadiza Bala-Usman, and the high-caliber schemes to remove her as the MD/CEO of the Nigeria Ports Authority (NPA) on the back of trumped-up charges that are not only weak but keep changing like a chameleon.

It’s Not about Performance or Accountability This unfortunate move is coming after close to five years of her “not business as usual” leadership of the NPA, during which time, she dared to step on big toes as she championed bold reforms that should qualify her, unarguably, as the most consequential head of the institution in recent history.

This includes a prudent and transparent management style of the NPA that saw the agency build and sustain an impressive trajectory of revenue growth from N173 billion in 2015 to N300 billion as of 2019 (the first time in NPA’s history); an uncompromising and patriotic stand against dodgy contracts that in-subordinated the national interest which led to the cancellation/restructuring of many agreements that defrauded the country including INTELS’ monopoly on oil and gas cargo, JV with Calabar Channel Management and Niger Global, cancelation of the Secure Anchorage Area amongst several others.

She pursued a vigorous dredging and facilities upgrade campaign that helped to open up the South Eastern Ports including Warri and Onne Ports in River State that had been close to dead and the actualization of the Lekki Deep Seaport in Lagos. As a result, the NPA in 2020 made history by successfully berthing one of the biggest gearless Maersk line – 300 meters length, 48 meters wide, vessels at Onne in Rivers State, the biggest ever container vessel to arrive at any Nigerian ports.

Additionally, she never shied away from “necessary” confrontations to protect the national interest and insisted that operators carry out their contractual obligations, pay their due without cutting corners as was the practice in the past. Bala-Usman’s tough stance against corruption helped to save Nigeria billions of naira, improved NPA’s contribution to the national purse, introduced efficiencies in the operations of NPA by blocking points of revenue leakages, stopping cronyism amongst several other radical changes that are designed to reform the NPA. Is Corruption Fighting Back?

So, if positive change, a record of sterling performance and ability to lead institutional reforms, that Bala-Usman has demonstrated so eloquently at the NPA, are the key objectives of leadership, especially at this time of declining national revenues that require prudent management of available resources, why would anyone, who genuinely cares about the progress of this country, want her out of the NPA? Whose interest would be served by removing her from NPA? Clearly, given the value that she added, her departure would not be in pursuit of the national good. One would expect that the patriotic thing to do would be to encourage her to use the remaining time in office to consolidate the reforms and complete the turnaround of the NPA, an important institution that is a key revenue driver for the country.

This leaves one possibility: That the hurried attempt to take her out of NPA is simply a classic case of vicious corruption fighting back so NPA can revert to, “business as usual” and a free rein for looters of our commonwealth. It is not about the lack of accountability, transparency or positive change or any wrongdoing by Bala-Usman, but rather a hostile takeover of the NPA that would reverse the gains made in the past four years of reforming the institution and possibly weaken its contribution to the national purse while fattening

Bala-Usman those of vested interests and their acolytes. This should concern all well-meaning Nigerians and the government.

The Shifty Terms of Reference It is clear from the shifty nature of the case laid against her that those who want her out of NPA, do not have substantial basis for their actions, but have rather ignored laid down procedures, engaged in executive overreach while shopping for any available reason to indict her as evidenced in subsequent actions taken by the Ministry of Transportation. This is wrong and Nigerians must not be taken for a ride.

The initial case against her in a letter to Mr. President in March was built on a Budget Office report which alleged a shortfall in NPA operating remittance to the federal government coffers totaling about N165 billion for the period 2016 to 2020.

First, according to laid down procedures, a simple query to the NPA MD requesting for an explanation of the alleged disparities in the Budget report would have been the ideal thing for the Minister to do. That is, if ensuring financial probity and accountability were the actual goal. However, by hurriedly escalating the issue to the President and requesting for an investigative panel to be set up without exploring due process of handling such matters as stipulated, the action betrayed the Minister of Transportation’s malicious intent to advance a hideous and unpatriotic agenda.

In her robust and detailed response dated May 5, 2021, to the Chief of Staff, Bala-Usman explained that the alleged shortfall was as a result of an error from the Budget Office. Apparently, the Budget Office had wrongly made the calculation of what NPA was supposed to remit based on budgetary provision instead of the actual amounts derived following the statutory audit of NPA’s financial accounts. What her response proved was that NPA under her leadership had remitted in full all that it was supposed to. Her response sucked the life out of the allegation that was used to procure Mr. President’s approval for her suspension and investigation.

Next, on May 11th, the Minister went on to set up an investigative panel of inquiry with a radically expanded terms of reference. While the initial approval anchored on investigating the shortfall in NPA remittances, the panel has now been given a

wide-ranging scope of a total audit of Bala-Usman’s tenure in the NPA, a move that is akin to a wild fishing expedition. This includes examining and investigating the administrative policies, strategies adopted by the MD, investigating issues regarding termination of pilotage, contracts, communication channels, procurement of contracts and any other matter that may be necessary in the course of the assignment.

This blank cheque audit is, clearly, nothing but a witch-hunt that is designed to rubbish the hardworking reformer. But Nigerians are smarter and should not be deceived by the well-orchestrated charade to discredit an outstanding technocrat.

Questions must be asked, and the focus must be on ensuring that NPA does not return to the old days when it was just a cash cow for political patronage and cronyism.

The first question that Nigerians should ask is with Bala-Usman now suspended, is the NPA in better hands under Mohammed Koko, who was the Zenith Bank accounts officer to River’s state government when Amaechi was governor and whom the Minister specifically nominated and now back to act as MD NPA? What is his pedigree, and why is the Minister so particular about him?

Another question is why has the panel singled out Bala-Usman, when the whole management team should be the logical subjects for such an expansive investigation? Managing Directors do not act alone, and it is unlikely that she did anything without the knowledge of her management team, the Board and even the Ministry. The same Koko was the Executive Director, Finance of NPA, so, why is he and other members of the management not persons of interest in the audit?

Moreover, in terms of principles and the capacity to shake down vested interests, there is little in the history of Koko to suggest that he would come close to staring down all corrupt interests that have hampered the growth of NPA over the years and prevented the reform of the important agency.

Another question is why is the Permanent Secretary of the Ministry of Transportation Mrs. Magdalene Ajani suddenly issuing sub-judicial incriminating statements against the NPA MD? Is the action intended to influence the outcome of the administrative panel?

A key point of conflict between Bala-Usman and Amaechi has been around INTELS, a ports

logistics company, which had until she came on board, allegedly monopolised the highly lucrative oil and gas cargo, and has had a running battle with the NPA for failure to remit revenue that is due to government. It is reported that recently, Amaechi allegedly asked the NPA to drop all matters relating to INTELS including a court case but Bala-Usman drew the attention of the president to the fact that there were no existing contracts between INTELS and NPA that were terminated, following which the approval granted to the Minister of Transportation

by Mr. President was withdrawn. However, on the expiration of one of the contracts, the NPA insisted on following due process instead of automatically reinstating the expired contracts, a process in which INTELS participated in.

A Big Loss for Nigeria All these worrisome posers point to one thing: that the target has always been Bala-Usman, who is seen as a roadblock to doing “business as usual”.

It must be understood that those who want her out are not doing so to make NPA better. The crass approach, disdain for laid down procedures all but show a resort to muscular tactics to run a lady who has championed the historic reform of NPA out of office. Bala-Usman’s travails are, indeed, a sad commentary on the country and the anti-corruption crusade.

For Nigeria to build strong and robust institutions that foster sustainable development, outstanding leaders who demonstrate the unique ability to uphold and prioritise national interest, champion positive change and a new way of doing things as well as add value to the country must be protected from the devious schemes of these unpatriotic elements. This would enable them to serve out their tenures, deliver change and build impressive track records as exemplary figures for others to follow. Doing otherwise amounts to a surrender to retrogressive forces. Surely, time will vindicate Hadiza. However, the country has lost a rare gem and a chance to sustain reforms at the NPA. Continuous witch-hunt and destruction of persons genuinely willing and interested in changing the sad trajectory of the Nigerian Narrative, will only alienate quality Nigerian citizens from aspiring to hold public office. t*LZBBWF JT B QVCMJD QPMJDZ BOBMZTU CBTFE JO "CVKB

T H I S D AY ˾ ͯ͵˜ ͰͮͰͯ

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CFM Pledges Customer Satisfaction Hamid Ayodeji Crown Flour Mill Limited (CFM), a subsidiary of Olam Nigeria, has reiterated its promise to continue to collaborate with other stakeholders within the wheat value chain in order to sustain value proposition in the sector.

Managing Director, CFM, Ashish Pande, who was represented

by Corporate Affairs Manager, Olam Nigeria, Damilola Adeniyi, pointed out that the rising consumption of wheat derivative foods in the country has stimulated further job opportunities at the production, processing, distribution, warehousing and retailing levels of the wheat value chain.

This, the organisation revealed during a courtesy visit to the Minister of Labour and Employment, Dr. Chris Ngige, in Abuja, recently Pande, explained that flour millers continue to take bold steps through scaled investments in critical areas, including seed trial and research, training of smallholder wheat farmers and funding of the various farming research institutes in the country to ensure that the current local production level of the wheat crop improves significantly.

Pande said, “Presently, the wheat value chain accounts for over 10.5 million jobs generated annually in Nigeria. This of course has placed the wheat value chain at the centre of the various economic development agenda of the federal government of Nigeria.

“While these efforts have ensured that we keep providing

affordable and quality food for the growing Nigerian population, they have also helped to increase the number of jobs being created for the active segment of the population.

“Overall, the investment efforts, which extend to capacity building initiatives for bakers, are beginning to yield positive results.”

Speaking further on the importance of the local wheat value chain, he noted that while prices of other major national staple foods such as rice, garri, yam and beans have risen sharply by 3.2 per cent, six per cent, 5.3 per cent, and 13.4 per cent, respectively, in the past months, the prices of wheat derivative foods have been largely cushioned from the inflationary trend by local millers and bakers who continuously absorb the extra cost of production to keep feeding the population.

The CFM boss also solicited the backing of the Minister of Labour and Employment to ensure that millers continue to deliver on their employment generating potential.

“If the current wheat value chain developmental drive is sustained, it would help secure the jobs of many Nigerians while ensuring that more homes continue to gain access to affordable quality wheat derivative foods such as semolina, bread, noodles and pasta,” he added.

On his part, Ngige, said, “The Ministry of Labour and Employment is committed to supporting efforts that are geared towards providing good jobs for Nigerians and ultimately growing the economy.

Branch Offers Free Money Transfers Nosa Alekhuogie The Branch Finance Company is offering free unlimited money transfers and a 20 per cent per annum investment returns for Nigerians, through its specialised app, called Branch.

Branch is licenced by the Central Bank of Nigeria (CBN) as a finance company and authorised to provide services such as credit and fund management.

With over 23 million downloads, Branch has become one of the most popular lending apps in the world, offering two specialised services: Unlimited free money transfer (unmatched amongst today’s finance apps) and 20 per cent per annum investment returns, which is amongst Nigeria’s highest.

The new offerings complement instant loans up to N500,000, free bill pay, airtime top ups, and other existing services found within the app. Taken together, customers can now enjoy a single app to manage their money with unmatched value.

Speaking on the initiative, the Managing Director of Branch Nigeria, Dayo Ademola, said: “Finding the best deal when it comes to your money can be overwhelming. We have made it simple. Compare our 20 per cent returns and free money transfers to see how Branch is better than your bank.”

The app is another innovation from the fintech industry,

designed to enhance financial transactions across platforms.

According to Ademola, Branch’s unlimited free transfers to recipient bank accounts have no hidden fees or restrictions.

Most financial apps today charge a transfer fee or cap the number of free transfers.

“Unlike other investment platforms where the money is locked for a fixed period, our customers can withdraw their investments after a 24hour period. Branch’s 20 per cent per annum return is paid weekly. Investments through the Branch app are channeled into low risk financial instruments with capital preservation as the ultimate goal. Branch also forfeits its commissions to customers in order to provide returns that are amongst Nigeria’s highest,” Ademola added.

To further encourage new customer trials, Ademola said Branch would be offering a limited time additional incentive, such that for each deposit of N300 or more using the wallet, customers receive a N50 bonus - up to N6,000 in bonuses per year.

Branch is backed by some of the world’s biggest investors, including Andreessen Horowitz (early backers of Facebook and Twitter) and Visa. Since 2018, Branch has provided over three million loans to Nigerians and is now expanding to offer 20 per cent investments and free money transfers.

Vandals Throw 50 Enugu, Ebonyi Communities into Darkness Oluchi Chibuzor Over 50 communities in Enugu State have been thrown into darkness following the damage of Amechi – Awgu 33KV mainline, property of the Enugu Electricity Distribution PLC (EEDC), which supplies electricity to the affected communities.

A statement from the EEDC explained that the act which occurred at Nenwe Junction down to the World University in Aninri Local Government Area involved the removal of about 40 spans of aluminum conductors on the line as well as the collapse and damage of 15 High Tension poles.

The development was made

known by the Head, Corporate Communications, EEDC, Emeka Ezeh.

Ezeh regrettably stated that the part of the network has been under attack by vandals since January this year, saying the present incident reoccurred barely two weeks after the company had spent millions of Naira in replacing the vandalised items.

“This portion of the network was attacked in January, February, and twice in April, which has led to the present darkness experienced by electricity customers in these affected communities, as about 130 distribution substations (transformers) are affected and cannot supply electricity to customers,” he added.

According to EEDC’s spokesman, the entire communities in Aninri Local Government Area, over 50 per cent of the communities in Awgu Local Government Area and Akaeze and Ishiagu under Ivo Local Government Area of Ebonyi Atate were affected by the ugly incident.

Some of the affected communities included Mgbowo, Ugwuleshi Awgu, Ogwuofia Awgu, Obodo Asaa Awgu, Ogwumabiri Awgu, Obeagu, Nmaku, Mgbidi, Ihe, Okpanku, Mpu, among others.

“As a business, we are concerned about the inconveniences our customers in the affected communities are subjected to, its

effect on their various businesses and the revenue losses we are recording as a service provider” Ezeh added.

“Vandalism of power installations within the EEDC’s network has remained a cog in the wheel of progress. No day passes without an incident of vandalism in one or two locations within the network.

“Transformer vandalism is more rampant, but these days, we have cases where some spans of the network are vandalised, keeping hundreds of thousands of customers in darkness,” he said.

Ezeh appealed to all electricity customers and the public, especially neighbourhood vigilantes to help in safeguarding the power installations serving them.

CAPACITY BUILDING

Best graduating students in Events and Experiential marketing, Ifunanya Olisaemeka (left), receiving her certificate from the GMD, Republicom Group, Mr. Tunji Adeyinka, at the strategic training programme and presentation ceremony for the marketing professionals at the ExperientialNG Academy in Lagos...recently ABAYOMI AKINYELE

Obiano Targets Diaspora Investments to Industrialise State David-Chyddy Eleke in Awka Anambra State Governor, Chief Willie Obiano has disclosed that his target is to industrialise the state by getting indigenes in the diaspora to bring back at least 10 per cent of their investment to the state.

Obiano said this during the unveiling of the Anambra International Ultra-modern Market in Ishiagu, Awka South Local Government Area.

The governor who was represented by the Secretary to the State Government, Prof. Solo Chukwulobelu, said the governor’s target was to industrialise the state, adding that this was stated early in his administration, where he said his mission was to

make Anambra the first choice investment destination in the country. “When the governor came aboard seven years ago he had a clear vision of making Anambra socially stable and the hub of industrial development.

“It is the private sector that drives the state and the private sector can only thrive through a focused public sector administration.

“Both (private and public sector) have been working well here, and the number of investment attracted here is a testimony.

“We are happy that JC Micheals Limited, the financiers of the market project are here to invest.

We are working to ensure that our people with huge investment in other parts of the country will

accept to relocate just 10percent of their investment home, so we can industrialise our state.”

Also speaking, the Commissioner for Trade and Commerce, Mr. Uchenna Okafor said the establishment of the Anambra International Ultra-modern Market, would give businessmen from the state, who are doing business in other states the opportunity to relocate part of their investments.

“When I was appointed Commissioner for Trade and Commerce, I went round to know what we needed to do to make trade and commerce work in the state.

“I went to markets in Lagos, Kano, China, Dubai and several other places to know what we

can adopt, and found out our strength lies outside. Most of the businesses in the places I mentioned are owned by our people.

What we are targeting is that if we can speak to well-meaning Anambra son to bring back 10 percent of their investment home, we can industrialise the state.

“In China, I noticed we had great potential across the globe.

That is why even today, you see a school in China teaching students Igbo Language, just so they will be able to connect with us, because they want to understudy who the Igbos are because of their strength in business. The Chinese didn’t believe the Igbo are from Nigeria but spread across everywhere in the world.

Ibom ICON Hotel to Connect Golf Course to International Calender The Management of Ibom ICON Hotel Resorts has assured customers of the hotel that activities in Ibom Golf Course will soon be given adequate attention. Arrangements have been concluded to revive golf by the management so as to connect Ibom Golf Course to the international golf calendar.

General Manager, Ibom ICON Hotel Resorts, Mr. Charles Muia disclosed this recently stating that the hotel’s target was to

boost the golf course for regular competitions.

“The Ibom Icon Golf course is a world-class edifice with lush greens fields and 18-hole golf points which creates the right atmosphere, for the most challenging, memorable golfing experience.

“Our objective in the coming months and years is to connect the Golf Course to international almanac and also host international tournaments,” a statement

quoted him to have said.

Explaining the importance of golf, the General Manager believed that with regular golf tournaments, visitors within and outside the country will come to the state and patronise the Ibom Icon Hotel & Golf Resorts.

Muia added that the hotel is currently training its staff across all departments to further raise the standard of quality service at the hotel. He also said that the new management are experienced

and qualified personnel, stressing that with the quality of service, more customers will be attracted to the hotel.

He noted that the new management wants to be very specific when it comes to environmental conservation, culture and issues of the community noting that delivering quality services is their core objectives. This is evident as the hotel is currently recording good business activity which is increasing by the day.

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MONDAY MAY 17, 2021 • T H I S D AY

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MONDAY, MAY 17, 2021 ˾ T H I S D AY

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

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

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

floor of the Nigerian Stock Exchange.

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

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

GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 11May-2021, unless otherwise stated.

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

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

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 153.65 155.16 -5.03% Afrinvest Plutus Fund 100.00 100.00 3.59% Nigeria International Debt Fund 299.98 299.98 -24.46% Afrinvest Dollar Fund 110.98 110.98 -0.99% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund N/A N/A N/A ACAP Income Funds N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 5.16% AIICO Balanced Fund 3.35 3.51 -5.53% info@anchoriaam.com ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 1.31% Anchoria Equity Fund 127.74 129.22 -3.96% Anchoria Fixed Income Fund 1.05 1.05 -21.25% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 19.01 19.59 4.83% ARM Discovery Balanced Fund 414.30 426.79 3.48% ARM Ethical Fund 36.92 38.03 9.52% ARM Eurobond Fund ($) 1.08 1.09 -11.49% ARM Fixed Income Fund 0.96 0.96 -14.51% ARM Money Market Fund 1.00 1.00 2.97% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 104.08 104.08 2.33% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 1.95 1.95 -26.71% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.17 2.21 -8.57% mutualfunds@cardinalstone.com CARDINALSTONE ASSET MANAGEMENT LIMITED Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund N/A N/A N/A CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 3.36% Paramount Equity Fund 15.84 16.12 -0.99% Women's Investment Fund 131.62 133.00 -1.15% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 3.93% Cordros Milestone Fund 2023 113.96 114.66 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 106.37 106.37 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 3.19% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 2.80% EDC Nigeria Fixed Income Fund 1,159.11 1,165.65 -3.26% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund N/A N/A N/A FBN Balanced Fund 185.02 186.29 -1.42% FBN Halal Fund 109.28 109.28 4.01% FBN Money Market Fund 100.00 100.00 5.26% FBN Nigeria Eurobond (USD) Fund - Retail 124.63 124.63 3.26% FBN Smart Beta Equity Fund 152.10 154.25 0.61% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 2.50% Legacy Debt Fund 3.93 3.93 1.65% Legacy Equity Fund 1.56 1.59 2.57% Legacy USD Bond Fund 1.16 1.16 1.78% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund N/A N/A N/A Coral Income Fund N/A N/A N/A FSDH Treasury Bills Fund N/A N/A N/A

GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund N/A N/A N/A Nigeria Entertainment Fund N/A N/A N/A GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 3.84% Vantage Balanced Fund 2.76 2.82 20.42% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 148.27 148.70 -4.60% Vantage Equity Income Fund (VEIF) - June Year End 1.21 1.25 28.48% Vantage Dollar Fund (VDF) - June Year End 1.08 1.08 6.01% LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.36 1.38 0.00% Lotus Halal Fixed Income Fund 1,135.19 1,135.19 2.80% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 10.66 10.73 1.89% Meristem Money Market Fund 10.00 10.00 4.93% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.62 1.64 7.36% PACAM Fixed Income Fund 12.39 12.45 2.13% PACAM Money Market Fund 10.00 10.00 2.22% PACAM Equity Fund 1.58 1.59 -0.45% PACAM EuroBond Fund 110.52 112.03 0.47% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 129.31 131.51 5.43% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.01 1.01 2.60% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,142.90 3,167.90 -2.27% Stanbic IBTC Bond Fund 229.13 229.13 1.90% Stanbic IBTC Ethical Fund 1.18 1.20 0.85% Stanbic IBTC Guaranteed Investment Fund 300.33 300.33 1.92% Stanbic IBTC Iman Fund 216.89 219.56 -0.75% Stanbic IBTC Money Market Fund 100.00 100.00 4.29% Stanbic IBTC Nigerian Equity Fund 10,233.92 10,362.83 -2.56% Stanbic IBTC Dollar Fund (USD) 1.25 1.25 2.03% Stanbic IBTC Shariah Fixed Income Fund 113.50 113.50 2.18% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 100.87 100.87 UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.34 1.37 -1.70% United Capital Bond Fund 1.93 1.93 2.25% United Capital Equity Fund 0.89 0.92 3.18% United Capital Money Market Fund 1.00 1.00 6.90% United Capital Eurobond Fund 120.24 120.24 2.70% United Capital Wealth for Women Fund 1.08 1.10 -0.18% United capital Sukuk Fund 1.04 1.04 4.22% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 12.10 12.21 1.99% Zenith Ethical Fund 13.50 13.62 10.50% Zenith Income Fund 24.33 24.33 1.43% Zenith Money Market Fund 1.00 1.00 3.01%

REITS NAV Per Share

Yield / T-Rtn

123.02 51.29

1.89% -2.12%

Bid Price

Offer Price

Yield / T-Rtn

12.52 123.40 97.15

12.62 123.40 98.91

-5.27% 1.36% -2.26%

Fund Name SFS REIT Union Homes REIT

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

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.75 5.56 16.97 1.00 19.22 158.89

3.79 5.64 17.07 1.00 19.42 160.89

-0.69% -2.24% 3.80% 2.67% -6.33% -27.31%

NAV Per Share

Yield / T-Rtn

107.52

13.11%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

34

T H I S D AY ˾ ͯ͵˜ ͰͮͰͯ

CITYSTRINGS

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

Show of Love for Humanity To mark his 51st birthday, the Aare Onakakanfo of Yorubaland, Iba Gani Ige Adams, recently showed love to humanity by spending the day with orphans at the SOS Children Home, Isolo and old people at Regina Mudi Elders Home, Mushin, Lagos. Chiamaka Ozulumba reports that he also gave cash donations to four indigent students from four different universities in the South-west to encourage them take the Yoruba language serious

Adams with some of the students receiving their cheques

Adams, Alaafin and Oloris

F

or over two decades now, Aare Onakakanfo of Yorubaland, Iba Gani Abiodun Ige Adams, has been celebrating his birthday with pomp and ceremonies.

On each of the previous occasions, families, friends,colleagues and well-wishers would gather at an expansive venue to rejoice and share in the joy of the moment with the Yoruba Generalissimo .

For the O'odua Peoples Congress (OPC) leader and also global convener of the OPU, the birthday celebration has been an annual tradition, where he often showcases the glory of God in his life and that of his family.

But this year, the event was actually a bit different from the usual party and merriment.

It was one event that will for a very long time linger on in the memory of all and sundry.

Iba Adams had intended to use the birthday anniversary to achieve two lofty objectives.First, to impact the lives of as many people as it is possible and also appreciate God for the grace to witness yet another year, which according to him, was a milestone in his life.

Secondly, the party, he said was also to roll out the drums and sincerely appreciate his numerous guests, that have come from far and near to be part of his success story. Interestingly, Aare Gani Adams achieved both with great joy and excitements. He also did extra by spreading his hands of generousity to orphans and the aged ones in Lagos.

So, on April 30, which actually was the symbol of the day he was born 51 years ago, the Aareonakakanfo of Yorubaland left his 'comfort zone' to have a special day with the orphans at the motherless babies and old people's homes in Lagos.

He and his team visited Regina Mudi Elders Home, Mushin, and SOS Children Home Isolo, Lagos. At the various facilities, he showed generousity as he gave various gifts, including cash donations, beverages, food stuffs, household commodities, detergents, toiletries and different clothes to the needy.

The Yoruba generalisimo used that singular act to demonstrate his love for humanity. The following day was on Saturday May 1,which actually was on a public holiday.But in spite of that, Berger bus stop, and its environs were shut down as all roads literally led to Cannanland Event Centre, Lagos,where the OPC leader played host to prominent guests, including monarchs,political bigwigs,leaders of socio-political groups, culture enthusiasts, activists,among others.

The Alaafin of Oyo, His imperial Majesty,Oba Lamidi Adeyemi III was the royal father of the event. The first-class monarch, who had earlier visited Iba Gani Adams at his Omole Phase 2 residence, led over 50 monarchs in southwest and beyond to the venue to bless Adams' new age with prayers and words of wisdom.

In his remarks, Oba Adeyemi, never hid his feelings and excitements as he revealed the secrets of how fate had favoured Adams, using the gods to seal his appointment for the prestigious position of the Aareonakakanfo of Yorubaland.

Adams and his wife The Oyo monarch also expressed displeasure at the security situation in the South-west, adding that with the spate of insecurity in the country, it is obvious that bandits and kidnappers have the monopoly of violence,explaining also that the position of the Aareonakakanfo of Yorubaland symbolises that of a warrior that has the capacity to protect the entire South-west.

He pointed out that the dimension insecurity has taken in Nigeria has thrown the country into a huge tailspin, even as he insisted that monopoly of violence is supposed to be concentrated in government but regrettably that was not the case.

The first-class monarch, however, charged the federal government to be proactive in ensuring that the South-west is safe for residents "The monopoly of violence must be concentrated in government but regrettably,we are not having that now. Bandits and kidnappers now have monopoly of violence than the government which is the reason why we are in this current situation."

Oba Adeyemi also commended the Aare Onakakanfo of Yorubaland, Iba Gani Adams for his courage, steadfastness and doggedness in the struggle for the liberation of Yoruba race, adding that Adams has truly proved the gods right that his appointment was divine.

"Aare Gani Adams' appointment is divine and based on merit.It took me over five years to consult widely and seek the support of the gods in the spiritual realms before he was appointed.

He didn't contest for it neither did he struggled for it. He was divinely appointed and my prayer is that he will lead Yoruba race for a longer time," the Alaafin enthused.

Meanwhile,the Onifegunwa of Ifegunwa in Ile-Ife, Oba Adewole Adedire, who stood in for the Ooni of Ife, His Imperial Majesty Oba Adeyeye Enitan Ogunwusi, extolled the virtues of the Aareonakakanfo of Yorubaland, saying the Obas and all those that matter most in the traditional institution in South-west will always

support Aare Gani Adams in ensuring that the South-west is safe.

In his speech, Iba Gani Adams, expressed appreciation to all the guests and dignitaries that graced the occasion. He admitted also that the ravaging COVID-19 pandemic didn't allow him to have an elaborated celebration last year when he turned 50, but today he is happy to celebrate his 51st birthday anniversary in a grand style.

"Last year, we only managed to do the special thanksgiving programme, but today, I give glory to almighty God for His grace to celebrate my new age. In commemoration of my 51st birthday.

I am very happy and fulfilled to spread joy on the faces of indigent students in four of our tertiary institutions in South-west. Therefore, today Aare Onakakanfo Foundation will give cash donations and scholarship to four indigent students from four different universities, namely, University of Lagos, University of Ife, University of Ibadan and Lagos State University. The cash donation is to encourage the students to take the Yoruba language serious so that it will not go into extinction."

Adams, however, urged the Federal Government to make sure that the southwest is safe for people,adding that the FG has the capacity to improve the quality of education across the country by initiating programmes that can help brilliant and indigent students across the country.

"As far as I am concerned, this is just the beginning, Aareonakakanfo Foundation will continue to support the students.We will also extend this laudable gesture to other universities", he said.

The event climaxed with the presentation of cash donation and awards to the indigent students. Beneficiaries of the donations include Miss Alabi Monsurat, from University of Lagos; Oritoke, Ayinde Kafayat Adenike,from University of Ibadan; Okegbemi Taiwo from Lagos State

University and Nurudeen Abass Adesinmi from Obafemi Awolowo University, Ile Ife. One of the beneficiaries, Ayinde Kafayat Adenike, who spoke on behalf of other students, applauded Aare Gani Adams' gesture, adding that the donations would definitely spur them on to do more especially, in their respective disciplines.

"I want to appreciate our father for counting us worthy of this award. It is not easy to emerge the best students in our various universities and departments, however, it is a reward for determination,hard work and dedication, and I think the award is also to encourage us to be more determined and focused in our studies.

"To our daddy, the Aareonakakanfo of Yorubaland, it is wonderful to be part of your annual success story and I want to assure you that we will not disappoint you, and we will go out there to promote those values and ideals that you believe in and epitomise as a leader and role model of our race," she noted.

The birthday party had a long list of prominent guests,including royal fathers from Lagos, Ogun, Oyo, Osun Ondo and Ekiti states. Deputy Governor of Kogi State, Comrade Lawrence Onoja; Special Adviser to the Ekiti State Governor on Arts and Tourism, Mr.Wale Ojo Lanre; his Oyo State counterpart, Hon.Akeem Ige; white-cap chiefs representing the Lagos Monarch, Oba Rilwan Akiolu, Oba Dipo Olaitan, the Alago of Kajola Ijesha, Deputy leader of Afenifere, some members of the Aareonakakanfo - chiefs- in Council, members of the Oodua Peoples Congress, and the Oodua Progressive Union (OPU) from all over the world were in attendance.

Also in attendance were Prof.Derin Ologbenla; Lagos State Chairman of National Union of Road Transport Workers (NURTW) Musiliu Akinsanya(MC Oluomo); fuji music maestros, Alhaji Kollington Ayinla, and Wasiu Alabi Pasuma; Apala music crooner, Musiliu Ishola; Oba Akeem Agbaosi, Saibu-the Alaguda of Aguda land, Babatunde Akanbi Ogunronbi, Oba of Shasha, Oba Sunday Olaniyi, President Roofing Association,Mr. Callistus Agaoma; Baba Ewe of Isolo, Alhaji Rasheed Agunbiade; Mr. Tunde Faduola, Baale of Allen-Ikeja High Chief Bolaji Thomas Jaji; Aare Onikoyi of Yorubaland, Chief Tomori Williams, Calabar Community Group and Igbo- speaking community in Lagos among others.

With sumptuous and assorted foods and drinks for the guests to eat and drink, Aare Gani Adams and his wife, Ayinba Mojisola Adams later took to the stage to dance as popular gospel and Hip-hop musicians, Lanre Teriba Atorise and Fakoya Qudus popularly known as Q.Dot thrilled the guests with great music.

Iba Gani Adams on Friday, May 7, observed a special Jumat Thanksgiving Service at the Omole Central Mosque, Omole Phase II,Ikeja, Lagos. And on Sunday, May 9, he observed a special Thanksgiving Service at the Saviour's Ministry C&S worldwide, Obafemi Awolowo Way, Alausa ,Ikeja, Lagos. The two events were to express gratitude to God on his 51st birthday anniversary.

MONDAY MAY 17, 2021 • T H I S D AY

35

36

T H I S D AY ˾ ͯ͵˜ 2021

BUSINESS/MONEYGUIDE

FMDQ Admits MTN, Coronation Merchant Bank’s Commercial Papers Goddy Egene FMDQ Securities Exchange Limited has approved the quotation of the MTN Nigeria Communications Plc N19.77 billion Series 3 and N53.74 billion Series 4 Commercial Papers (CPs) under its N200 billion CP Issuance Programme.

The exchange also approved the quotation of the Coronation Merchant Bank Limited N0.71 billion Series 13 and N14.13 billion Series 14 Commercial Papers (CPs) in March 2021, and the N1.41 billion Series 15 and N20.19 billion Series 16 CPs in May 2021, under its N100 billion CP Programme.

Commenting on the development, the Chief Financial Officer, MTN Nigeria, Mr. Modupe Kadiri, said: “MTN Nigeria is very pleased with the success of our series 3 and Series 4 CP issuances, which further diversify our funding sources, help to

optimise our finance cost and strengthen the Nigerian financial markets. The issuance was well received by the market, with strong participation from a diverse group of investors, signifying the market’s continued confidence in our business.

“By quoting these CPs on FMDQ Exchange, we are able to provide investors with a strong platform for liquidity and price discovery. Proceeds from the issuance will be deployed towards the company’s working capital and general corporate purposes.”

Also commenting on the completion of the CP quotation, the Managing Director/ CEO, Coronation Merchant Bank Limited, Banjo Adegbohungbe, said: “we are delighted at the successful issuance and subsequent quotation of the Bank’s N0.71 billion Series 13 and N14.13 billion Series 14 CPs. This transaction further underscores the confidence of investors in

our brand and entrenches our continuous leadership in the use of market instruments to create shared prosperity for all stakeholders.”

FMDQ said the timely admission of the CP issues, and in general, all securities on the exchange was a testament of the efficiency of the exchange’s securities quotation process.

“As is tradition for FMDQ Exchange, the Coronation Merchant Bank CPs, which were sponsored on the Exchange by Chapel Hill Denham Advisory Limited, a Registration Member (Quotation) of FMDQ Exchange, shall be availed global visibility through the Exchange’s website and systems, governance and continuous information disclosure to protect investors’ interest, credible price formation, amongst other benefits derived from the FMDQ Exchange platform,” it said.

MARKET INDICATORS

Unity Bank to Extend Funding to 120,000 Maize Farmers Unity Bank Plc said it will provide additional funding to no fewer than 120,000 smallholder maize farmers in Nigeria in the 2021 wet season farming.

The Managing Director/Chief Executive Officer of Unity Bank Plc, Mrs. Tomi Somefun disclosed this while delivering a goodwill message at the unveiling of the first National Maize Pyramids and flag-off of wet season farming programmes held in Katsina, recently.

As a major stakeholder in the roll out of the CBN’s Anchor Borrowers Programme (ABP), Unity Bank Plc was invited to participate in the events marking the unveiling by the Maize Association of Nigeria (MAAN).

Represented by Head, Agribusiness, Unity Bank Plc, Mrs. Patricia Chinwe Ahunanya, Somefun was

quoted in a statement to have said the additional funding for 2021 wet season farming was “in furtherance to the bank’s commitment towards supporting maize farmers” in the country.

She stated that the strategic partnership with the Maize Association of Nigeria commenced in 2019 with the financing of about 37,182 smallholder farmers, with the Bank increasing its financing tally to 70,604 smallholder farmers in 2020.

Commenting on the maize pyramid, Somefun stated that, “The maize Pyramids will go down in history as the first maize pyramid in Nigeria which demonstrates not only the resilience of our farmers but also the commendable vision of the Federal Government of Nigeria through the implementing partners. This

should be replicated in all states with a focus on the crops that have comparative advantage.”

She noted that with agriculture contributing over 26 per cent to Nigeria’s Gross Domestic Product, and employing about 50 per cent of Nigeria’s working population in the rural areas, the bank will continue to make strategic investments into the sector in line with the federal government’s quest to attain food sufficiency, diversify the economy away from oil, create jobs for the youth and reduce poverty.

She added: “Unity Bank is fully committed to its partnership with MAAN and this commitment will ensure the attainment of FGN/CBN target to meeting selfsufficiency in Maize production through the association.”

PenOp Partners AVCA on Private Equity Investments Ebere Nwoji The Pension Fund Operators Association of Nigeria (PenOp) has gone into partnership with the African Private Equity and Venture Capital Association (AVCA) to empower local investors and develop private equity (PE) as an asset class in Nigeria.

Speaking about the partnership, PenOp Chief Executive, Oguche Agudah, said pension funds operators have realised that they need to diversify into alternative investments.

He said they view private equity as one of such opportunities.

He maintained that domestic capital plays a vital role in accelerating economic growth in Nigeria and across the continent, adding that over the past five to ten years, the value of Nigerian pension funds has grown remarkably to peak at over $25 billion in December 2020, of which 0.03 per cent has been allocated to private equity.

He said the partnership between PenOp and AVCA, would focus on training and networking, including an introduction to development finance institutions (DFIs), fund managers and other stakeholders within the global private equity ecosystem,

to ensure the growth of private equity in Nigeria, especially for pension operators.

He stated that as part of the collaboration, PenOp would also support AVCA’s research and advocacy by providing insight into pension fund investments in PE and their impact.

He said during the African Institutional Investor Roundtable hosted at AVCA’s annual conference in April, there was a discussion about ways to encourage pension funds in the continent, in order to increase their allocations to private equity.

Lagos Pays N1bn to Retirees in April Ebere Nwoji The Director-General, Lagos State Pension Commission, Mr. Babalola Obilana, has said the state government paid over N1 billion to its retirees in April.

Obilana, disclosed this while speaking at the retirement bond certificates presentation ceremony to the 84th batch of the Contributory Pension Scheme (CPS) retirees in Lagos.

“In the hall today, we have

a total number of 358 retirees whose pension rights of N1.006 billion have been credited into the Retirement Savings Accounts,” he said. He said Lagos State has been consistent with its leadership role in the implementation of the CPS in line with the provisions of the Lagos State Pension Reform Law of March 19, 2007 now amended.

The director-general commended the state governor over the efficient and effective administration of the CPS in

the state.

According to him, one of the outcomes is the regular issuance of retirement bond certificates to retirees of the state public service.

He also appreciated the support of the commissioner of establishment, training and pensions, the state-approved Pension Fund Administrators and the efforts of the insurance companies at ensuring that all its retirees had unrestrained access to their pension benefits.

MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT MONDAY, 10 MAY 2021

The price of OPEC basket of thirteen crudes stood at $67.10 a barrel on Monday, compared with $66.57 the previous Friday, according to OPEC Secretariat calculations.

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

SOURCE: OPEC headquarters, Vienna

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Investors Advised to Embrace Seven Key Rules of Investing Goddy Egene Equities investors have been advised to embrace the seven key rules of saving and investing wisely.

The Global Head, Wealth Management at Standard Chartered Bank Limited, Marc Van de Walle, gave the advice in a report titled: ’Riding the bull wisely.’

According to him, investors should prepare an investment

plan based on their financial goals, risk tolerance and time horizon and set aside funds for short-term exigencies in cash.

“Invest most of the remaining funds(say 80 per cent) in a core portfolio broadly diversified across asset classes, geographical regions and industry sectors.

This will help limit the downside from unexpected events (because they will happen over our lifetime!).

“Stay invested through market

P R I C E S MAIN BOARD

F O R DEALS

cycles, since time and the miracle of compounding returns is your friend. Rebalance the portfolio at regular intervals (say twice a year) to bring it back to your risk tolerance,” he said.

Walle, explained that investors should use the remaining funds (at most 20 per cent), for short-term trading (for those who want the thrill).

“Make sure this is based on sound research and not the latest fad, and done with

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

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a cool head - not be too greedy at the top and panicky at the bottom (using stop-losses would help remove personal biases and limit downside risks for this part of the portfolio) and finally, follow the investment plan,” he said.

According to him, for some investors, putting all funds to work immediately could be psychologically challenging.

“For this group, setting up a pre-determined regular

T R A D E D MAIN BOARD

A S

investment plan would remove any personal biases.

This so- called dollar-cost averaging strategy would help the investor to automatically benefit from any market upside, while allowing the investor buy cheaper if the market pulls back along the away. This strategy could include pre-determined rules to accelerate purchases in the event of larger-than-expected market draw downs,” he added.

O F

Walle noted that based on decades of market history, it is hard to make a case for an equity bear market without an accompanying economic recession.

“Therefore, the risk of trying to time when to exit the market before any short-term correction and re-enter at the bottom are greater than staying invested (since the investor could lose some of the best days in the market by staying out),” he said.

1 4 / 0 5 / 2 0 2 1 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

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MONDAY MAY 17, 2021 ˾ T H I S D AY

NEWSXTRA

Herdsmen Kill Catechist, Six Others in Benue, Nasarawa Igbawase Ukumba in Lafia and George Okoh in Makurdi Suspected herdsmen at the weekend killed new fewer than seven persons in Benue and Nasarawa states.

In Nasarawa State, the armed herders killed the Catechist of St. Mathew’s Catholic Parish in Obi, Nasarawa State, Sydney Shirsha.

Four people were also on Saturday killed when herdsmen attacked Yelwata community of

ACF Expresses Worry over FG’s Silence on Helicopter Distributing Weapons to Bandits The Arewa Consultative Forum (ACF) has expressed worry over the alarming state of insecurity in the country, saying the government’s silence in these circumstances was nothing short of conspiracy and betrayal of public trust.

ACF’s National Publicity Secretary, Mr. Emmanuel Yawe, said in a statement yesterday that Nigerians needed to be assured by the government that their security is the government’s primary concern.

According to the Forum, “we issued a statement about a week ago calling for an open, immediate and transparent investigation into the wild and wide allegations that a helicopter was distributing weapons, foodstuffs and other daily needs of the bandits, particularly in Niger State.

“Since our call we have not received any reaction from the government or relevant security agencies despite the fact our call received wide media publicity. We wish to remind the government and her security agencies that this is not a matter that can be swept under the carpet if we are serious about fighting insecurity in Nigeria.’

“Niger State which is said to be to the area of operation of the helicopter shares a boundary with the Federal Capital Territory and has been invaded and terrorised and is on the verge of being overrun by bandits of late.’

“Our citizens need to be assured by the government that their security is the government’s primary concern.

“Silence in these circumstances is nothing short of conspiracy and betrayal of public trust.

Group Urges Jonathan to Contest 2023 Presidential Election Chuks Okocha and Adedayo Akinwale in Abuja A group, under the auspices Youths Earnestly Demand for Goodluck Jonathan 2023 (YED 4 GEJ 2023), has called on the former president to contest the 2023 presidential election, adding that its (the group) has resolved to fund his political campaign.

The group in a statement issued yesterday by its National Chairman, Mr. Teddy Omiloli, and National Director of Operations, Mr. Douye Daniel, said the country is urgently in need of a national builder, a unifier that can save the country from its current state.

The group said: “We are demanding Dr. Goodluck Jonathan to return to power as president in 2023, and we have also resolved to

fund his electioneering should he accept the call to return to power in 2023.”

It noted that Jonathan met a Nigeria with a faulty constitution; saw the need to restructure Nigeria and conveyed a national confab in 2014, but was unable to implement its recommendations because he was voted out of office in 2015.

The group said most Nigerians, including the youths, were too blind then to see that Nigeria’s problem was the inability of Nigerians as a people to renegotiate the country’s unity.

It added: “We call on every Nigerian to lend a voice to the demand for the return of Jonathan in 2023, as he has no other choice but to accept the call to render service to humanity in the capacity of the president of Nigeria.

Buhari Leaves for France to Attend African Economic Summit Deji Elumoye in Abuja President Muhammadu Buhari yesterday departed the Nnamdi Azikiwe International Airport, Abuja for Paris, capital of France, on a four-day official visit to attend African Finance Summit which would be focused on reviewing African economy, following shocks from COVID-19 pandemic, and getting relief, especially from increased debt burden on countries.

The Summit, being hosted by French President, Mr. Emmanuel Macron, will draw major stakeholders in the global finance institutions and some Heads of Government, who will, collectively, discuss external funding and debt

treatment for Africa, and private sector reforms.

During the visit, President Buhari will meet with the French President to discuss growing security threats in Sahel and Lake Chad region, political relations, economic ties, climate change and partnership in buoying the health sector, particularly in checking spread of Covid-19, with more research and vaccines.

Before returning to Nigeria, President Buhari will receive some key players in the oil and gas sector, engineering and telecommunications, European Council and European Union Representative for Foreign and Security Policy and Commission, and members of the Nigerian community.

Guma Local Government Area of Benue State.

However, the fourth victim was said to have been killed when a security agent accidentally fired live bullet at angry youths protesting the killing of their three kinsmen by the herders.

Shirsha was murdered in his Amudu village in Giza Chiefdom of Keana LGA of the state with two other members of the village.

An eyewitness account said the

killers, armed with sophisticated weapons, invaded Amudu, a Tiv village in Giza Development Area of the state, killing the Catechist and two others in a midnight attack.

It was gathered that the attack left several others with various degrees of gunshot injuries, just as the incident has led to the displacement of over 20,000 Tiv farmers from various villages in and outside the Keana LGA.

President of Tiv Development Association (TIDA) in the state, Mr. Peter Ahemba, confirmed the ugly development to journalists in Lafia, the state capital.

He regretted that the Tiv people in the state have remained under sustained attacks by armed herders for no reason.

According to him, “the killing and displacement of the Tiv people of the state in the coordinated attacks have

continued unabated since the first attack on Ajimaka community of Doma LGA, which led to the gruesome murder of nine persons about a month ago.

“We call on the state Governor, Abdullahi Sule, to save our soul. We are being chased out of Nasarawa State, and we are appealing to the governor not to allow the seemingly planned elimination of the Tiv community succeed under his watch.”

MILITARY COOPERATION…

L-R: Chief of Defence Staff, Ghana Armed Forces, Vice Admiral Seth Amoama; Acting Head of Mission, Nigerian High Commission in Ghana, Mr. Hamza Gambo; and Commanding Officer, NNS LANA, Captain Abdullateef Mahmud, during the visit of a delegation of Ghana Armed Forces and the Nigerian High Commission to NNS LANA ship in Tema-Ghana...weekend

17 Southern Govs to Meet Buhari North won’t participate in any dialogue, says CNG Chuks Okocha and Adedayo Akinwale in Abuja Barring any unforeseen circumstance, the 17 southern governors will meet with President Muhammadu Buhari as soon as the president returns from his trip to France to discuss their last Tuesday’s resolutions in Asaba, Delta State.

This is coming as the Coalition of Northern Groups (CNG) has declared that the North would not be part of any national dialogue that may emerge now or in the future.

The 17 governors had banned open grazing of cattle and called for the restructuring of the country, urging Buhari to also convoke a

national dialogue.

The Chairman of the Southern Governors’ Forum and Ondo State Governor, Mr. Rotimi Akeredolu, had earlier stated that the governors would meet Buhari, adding that the president would not ignore the resolutions of 17 governors.

It is expected that the meeting will be held as soon as Buhari returns from France.

However, CNG has argued that the North would no longer be disposed to remain in one country with “the ‘Igbo Biafran agitators’ who have held the entire country to ransom for more than 60 years.”

In a statement issued yesterday by its spokesman, Mr. AbdulAzeez Suleiman, the group

said it had taken note of the southern governors’ decision to ban open cattle grazing, their renewed interest in the clamour for restructuring, “and other sentiments which tend to create tensions around the co-existence as a nation.”

It noted that as its tradition, it has restrained from the flow of idle and unproductive engagements, which trailed the Asaba declaration to a point when it became obvious “that northern governors and most of those that call themselves northern leaders today have lost the necessary courage to defend the rights and privileges of all northerners.”

The CNG said it observed that the southern governors

had “unfairly profiled the entire business community of herders as the sole cause of the security challenges in the region, while deliberately leaving out IPOB, Eastern Security Network (ESN) in the South-east, violent gangs led by the likes of Sunday Ighoho in the Southwest, and the assortment of militant groups in the South-south region.”

The CNG stated: “We categorically state that the North shall never be part of any national dialogue that may emerge now or in the future, which would not include a final discussion on the actualisation of Biafra and the settlement of any other pending secessionist or self-determination issue.”

Babangida Urges FG to Equip Military with Modern Weapons to Tackle Insecurity Former military President, Gen. Ibrahim Badamasi Babangida (rtd) has called on the federal government to equip troops with modern weapons to help them fight insecurity.

Speaking yesterday with the BBC Hausa, Babangida also asked Nigerians to support the security agencies in restoring peace in the country.

Babangida said troops must be made to understand that they

have nowhere else to go other than Nigeria.

“Provide them with all they require and let them know this is their country. They have no other better than this,” he said.

“They also need to be trained on how to use the modern weapons, not to get weapons and just hand them over to them. They should be trained.”

The retired general also said he usually advises the government on

the way forward for the country, and will continue to do so.

“We give advice as we can but we don’t make noise about it. We don’t announce that this is what we say,” he said.

“We should unite, we should support those in power, we are all working towards achieving the same goal. Between the leaders and citizens, we need peace and a harmonious relationship.

“I remember how we fought the

civil war for three years, the people supported the government, the government did its best, bought what was necessary, those who fought were made to understand that this country is the best for them.

“It is not only in Nigeria; many countries encountered this kind of problem, some had it for ten years but through concerted effort, they are out of it. I believe we can get out of this problem.”

NSCDC Arrests Six Suspected Cultists in Kwara Hammed Shittu in Ilorin Operatives of the Nigeria Security and Civil Defence Corps (NSCDC), Kwara State Command, at the weekend arrested six suspected members of two rival cult groups in Ilorin, the state capital.

The suspected cultists alleged to belong to ‘Abata’ and ‘Aye’ cult groups were about to strike at Dada area, Okelele in Ilorin when

the NSCDC operatives swooped in on them and arrested them.

The suspects are Raheem Jamiu, 18; Abdullahi Azeez, 20; Sulaimon Folawiyo, 18; Saheed Samad, 18; Sanni Samsudeen, 16, and Jamiu Isa, 19.

Five of the suspects are from Kwara State while Saheed Samad is an indigene of Oyo State.

THISDAY checks revealed that the suspected members of Aye

cult group were on a vengeance mission as two of their colleagues were said to have been injured following a misunderstanding between them and members of Abata group during the just concluded Ramadan fasting.

The spokesman of NSCDC in the state, Mr. Babawale Afolabi, who confirmed the arrest of the suspects, said: “It was a serious battle, but only six of them were

arrested in the end.

The Operation Harmony and Anti-vandal Squad of the NSCDC, Kwara State Command, swung into action on May 15, 2021, after our intelligence report from our Ilorin South Division indicated that two cult groups, Abata and Aye, will strike at Dada area of Okelele in Ilorin. It was a serious battle but only six of them were apprehended.

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Atiku Urges Govs to Convene Unity Summit, Says Nigeria Drifting Chuks Okocha in Abuja Former Vice President Atiku Abubakar yesterday raised the alarm that Nigeria was drifting and called on Nigerian governors to stop waiting on Abuja to make changes.

He urged the 36 states’ chief executives to convene a National Unity Summit of all Nigerian governors to iron out the thorny issues affecting the destiny of the nation until they figure out a way to resolve them.

“Forget about your party. Forget about your tribe. Respect your religion and allow it to bring out the better part of you. Meet together. Talk together. Come up with the solutions to all our collective challenges.

“And then go back to your states, and consult with your federal and state legislators, with a view to getting them to work with their colleagues to implement the solutions you came up with.

“That is how to save Nigeria.

To keep waiting for this Federal Government to take the lead,

and effect the changes that Nigeria needs to stop drifting, is to keep waiting for Godot. And that is a luxury we cannot afford.

In a statement he signed, Atiku said, “we are not just drifting politically and economically. We are also drifting apart from each other.

“I have often said that the difference between us is not North and South, but between good and bad. Therefore, those who are good should come together to show those who are bad that we are in the overwhelming majority.

“I have repeatedly said that I am a Nigerian. Full stop. That is my identity. And now more than ever, we must ask ourselves this question: what does it mean to be a Nigerian?” he said.

Atiku said that a Nigerian is one who is committed to the idea of the indivisibility of Nigeria and who respects the right of others to co-exist with him irrespective of religious, regional or ethnic differences.

“That is what being a Nigerian means to me. And that is why I believe that all those who believe

in Nigeria should stand up to be counted.

“It is ‘un-Nigerian’ to terrorise your fellow citizens. Up until about a decade ago, we did not have this. It is un-Nigerian to abduct people. And this is undoubtedly a new menace that has low historical precedence in Nigeria.

“The truth is that if at a National level, we address these ‘un-Nigerian’ tendencies immediately and dispassionately, we would not

the posting of the ambassadors.

The workers accused the ministry of not accounting for the money it received in the last three years when no ambassadorial posting was made.

They gave the ministry seven days to address the resolutions contained in their communiqué.

The resolutions, which were titled, ‘communiqué issued by the Joint Negotiating Council sequel to the congress held at the rotunda of the Ministry of Foreign Affairs, Abuja,’ were signed by the JNC Chairman, Mr. Ali Saidu and the Secretary-General, Mr. Charles Chimaroke.

Emmanuel Addeh in Abuja The Transmission Company of Nigeria (TCN) yesterday confirmed the shutting down of its operations in Kaduna state, throwing the north central state into total darkness.

The federal government-owned company noted that it was compelled to comply with the warning strike action called by the Nigeria Labour Congress (NLC)

Following this development, the ministry officials would on Tuesday meet the workers to avert any strike they could paralyse the country’s foreign missions.

The workers in their communiqué, alleged that N4.7 billion out of the N5.2 billion released to the ministry for staff postings in the last three years had not been accounted for.

The workers’ Joint Negotiating Council argued that the ministry had not carried out postings of staff in the past three years despite receiving N5.2billion from the Ministry of Finance.

Delta Police Arrest Five Suspected Pipeline Vandals Sylvester Idowu in Warri Five persons alleged to be specialists in vandalising pipelines have been arrested by the personnel of Delta State Police Command.

The suspects, namely Lukeman Jimoh, Shola Bimigo, Yahaya Ikane, Ebi Yeregha and Lawal Aliyu, were apprehended last Saturday while conveying 170 pieces of pipelines in a lorry, which were suspected to be stolen.

The Delta State Police Public Relations Officer (PPRO), DSP.

Edafe Bright, disclosed yesterday that the suspects were intercepted at about 5.45 p.m. by policemen from “A” Division, Warri.

Bright said: “On May 8, 2021, at about 5:45 p.m., the Anti-Crime Patrol of ‘A’ Division, Warri, while on routine patrol, intercepted a lorry with registration number BDG358YA with five suspects on board.

“On searching, the lorry was loaded with 170 pieces of 6 inches pipes already cut to various sizes. The suspects are alleged experts in the act

of vandalising pipeline at Ogulagha. They were arrested while the lorry was impounded.’’

He also confirmed the death of three suspected kidnappers in the state, who were identified as Onome Efetobore, Collins (surname unknown) and Glory Reuben. They were reportedly beaten to death by an angry mob after a failed kidnapped attempt.

Bright said the incident occurred last Sunday at Oghara in Ethiope West Local Government Area of the state.

Ikpeazu Calls for Decentralisation of Security Architecture Ndubuisi Francis in Abuja The Abia State Governor, Dr. Okezie Ikpeazu, has called for the decentralisation of the nation’s security architecture and the creation of state police that would enable state governments to address peculiar security challenges in their domain.

Ikpeazu also disclosed that the five South-east states had one form of security arrangement or the other in place for their respective states before they unveiled the

“Ebubeagu” as the joint security outfit for the entire geopolitical zone.

He stated that the launch of the “Ebubeagu” was designed to ensure a collaborative and effective synergy between the states in the zone to avoid criminals committing crime in one state and taking refuge in another state.

The governor described the issue of security as a very dynamic and naughty problem during a virtual interactive session with the

necessity of their meeting and the wisdom of their decisions. But no matter how much you try to clap with one hand, the vibrations will not be the same as when you clap with two hands.”

According to Atiku, “we have a national challenge and as Albert Einstein said, “we cannot solve our problems with the same thinking we used when we created them.”

“These problems were created by those with a regional mindset,

and will not be solved by those with a similar mindset.

“For too long, we have erroneously thought that the power to make effective changes lies at Aso Rock. But without the states, nobody can get to Aso Rock. That is why for anyone to emerge as President of Nigeria, he or she must secure enough votes in two-thirds of the states that make up the Nigerian federation,” Atiku stated.

Kaduna Thrown into Darkness as NLC Begins Strike

Foreign Affairs Ministry Workers Allege Fraud in Envoys Postings Workers in the Federal Ministry of Foreign Affairs have alleged fraud in the funding of the postings of the ambassadors who were recently appointed by President Muhammadu Buhari Buhari had appointed 95 career and non-career ambassadors after getting the approval of the National Assembly.

In a communiqué dated May 7, 2021 and issued under the aegis of the Joint Negotiating Council, the workers alleged that the Permanent Secretary in the ministry, Mr. Gabriel Aduda, had written a letter to Buhari, requesting N8.1billion to fund

have Nigerians congregating at a regional or sub-regional level to address these issues,”Atiku stated.

He said what the present challenges therefore called for is not fragmentation but concentration, adding that, “we must concentrate and focus our national will power and resolve towards fighting these ‘un-Nigerian’ tendencies.”

He said some governors representing some states had met “and I completely understand the

Abia Media Forum (AMF), an assemblage of senior journalists from the state.

He said: “I want to thank God that the South-east governors were able to come up with that platform called “Ebubeagu.” But I want to provide a background to it. The background is that before the announcement of “Ebubeagu,” all the states in the South-east had gone ahead to launch and roll out their respective security outfits.

after an analysis of apparent threats to its power assets in the state.

A statement by the General Manager, Public Affairs of the company, Mrs Ndidi Mbah, made available in Abuja yesterday, while apologising for the blackout, noted that the TCN had turned down earlier demands for a shutdown, but noted that it later caved in to protect its assets from being compromised which will affect nationwide power supply.

Earlier, aviation workers had declared withdrawal of services from the Kaduna International Airport (KIA) effective Sunday midnight in solidarity with the striking workers.

The workers, under the aegis of the National Union

of Air Transport Employees (NUATE), Association of Nigeria Aviation Professionals (ANAP) and National Association of Aircraft Pilots and Engineers (NAAPE), said the airport would remain shut for the period of the warning strike.

The NLC, Kaduna State Council, recently declared a five-day warning strike starting from midnight of yesterday, May 16, 2021, to protest the sack of over 4,000 workers by the state government.

Chairman of the labour union in the state, Ayuba Suleiman, maintained that due process was not observed in the disengagement of the workers from the local government service, State Universal Basic

Education Board (SUBEB) and the primary health care agency.

On the implication of the shutdown, TCN stated that the action caused by the ongoing industrial action resulted in the interruption of bulk electricity supply within the state early in the morning.

“TCN had resisted intense pressure from the union yesterday, demanding that all 33kV feeders radiating from our substations within Kaduna State be switched off. Regrettably, the union’s functionaries returned today (Sunday) with similar demands amid palpable threats that could escalate and jeopardise national grid security.

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MONDAY MAY 17, 2021, ˾ T H I S D AY

NEWSXTRA

Jonathan: I Don’t Believe in Using Political Power to Punish People Faults southern, northern govs’ separate meetings

Former President Goodluck Jonathan yesterday declared that he never believed in the use of temporary political office to punish people.

Delivering an address in Benin City, Edo State capital, at the 50th birthday celebration of President of the Rock of Ages Christian Assembly, Apostle Charles Osazuwa, the former president stressed that people would always be remembered for the legacies they left behind.

“My belief, particularly when I joined politics is not to use a temporary privilege, a temporary position God has given to me to punish people,’’ he said.

“Some of the things I did while in office to which people still make reference was based on the conviction not to use my

position to cause the death of anybody.

“Any position I have occupied by divine providence should not be used to create hardship for other people,” he said.

“Just at 50 years, you have impacted significantly on many lives,’’ he told the cleric.

He backed the Nigeria Governors’ Forum, noting that the platform remains the best to discuss issues affecting the country.

He said the argument between the Southern Governors’ Forum and the NorthernGovernors’Forumfollowing the former’s inaugural meeting held in Asaba last Tuesday, was uncalled for.

He said, “The governors should continuetomeet;Idon’tloveasituation where the Northern governors will meet, then the Southern governors will cry foul and vice versa. This

Address Food Insecurity Now, PDP Tells APC, Buhari Chuks Okocha in Abuja The Peoples Democratic Party (PDP) yesterday called on President Muhammadu Buhari and the All Progressives Congress (APC)-led federal government to take urgent steps to address the worsening food insecurity and the attendant hunger and starvation across the nation.

The PDP lamented that under Buhari, over 82.9 million Nigerians can no longer afford their daily meals due to the failure of the administration to take practical steps to grow and protect the food sector, thereby leading to severe food scarcity with prices soaring beyond the reach of Nigerians.

In a statement by the National Publicity Secretary of PDP, Mr. Kola Ologbondiyan, the party said that due to the misrule of the APC government, the country now ranks as 98 out of 107 in Global Hunger Index, with an agonising food shortage, collapsed purchasing power; alarming 33.3 per cent unemployment and 22.95 per cent food inflation rates as well as increased morbidity and

mortality rates.

“Today, under the APC, a bag of rice which sold for N8,000 under the PDP now sells for N30,000, a measure of garri and beans which sold for N150 and N250 now sell for N500 and N800 respectively; a measure of maize and guinea corn which sold for about N150 now sells for N400 while a kilo of meat which sold for about N800 now sells for about N2,300.

“Our party notes that the current food crisis is occasioned by the failure of the APC administration to recalibrate our agricultural sector as well as to take decisive steps to address the violence, terrorism and banditry in food production areas,” the main opposition party said According to the PDP, “Nigerians recall how the APC administration had remain insensitive to calls by our party and well-meaning Nigerians asking it to address the escalated violent attacks and killing of farmers as well as livestock producers, by bandits, terrorists and criminal herders resulting in desertion of farms in various parts of our country.

Catholic Archbishop Commends Southern Govs’ Wake-up Call Amby Uneze in Owerri The Catholic Archbishop of Owerri Archdiocese, Most Rev. Anthony Obinna, has commended the decision of the 17 Southern governors who met last week in Asaba, Delta State, to collectively ban open cattle grazing and sent a strong message to the federal government on restructuring.

Obinna also flayed the authorities for the mass movement of soldiers and police from the northern part of the country to South-east region without a clear mission of their movement.

He accused them of ulterior motives, even as the people of the Southeast are being subjected to series of dehumanisation, including killings of innocent people, especially youths by the security agencies.

The cleric, who spoke in his sermon at the Assumpta Catholic Cathedral, Owerri, during the Holy Mass marking the celebration of 2021 World Communication Day yesterday, emphasised that Nigeria has not changed from the colour of military regime since the current administration took power, adding that the people still suffer as if democracy does not exist in the country.

Obinna stressed that democracy seemed not to be working in Nigeria “because the leaders have failed the people. However, I commend the Southern governors for waking up from their slumber to now speak what the people want. In the past, they had failed the people by doing only what Abuja wants, but what they did this past week is a wakeup call to redress the anomaly by

will not help our country.

“The governors through the governors’ forum should meet,

they are the people who run this country, the President is just one person in Abuja.”

In his address, Edo State Governor Godwin Obaseki lauded Apostle Osazuwa for using the

word of God to address current realities and challenges facing the country.

WELL-DESERVED HONOUR…

Deputy Governor of Kwara State, Mr. Kayode Alabi (left) and Oloriewe of Oro Kingdom, Oloye Raheem Adedoyin at the Fidau for Adedoyin’s mother in Ijomu Oro, Kwara State …recently

Lottery Commission to Introduce General Monitoring System, Says Gbajabiamila Determined to make lottery a major source of revenue for the country, the National Lottery Regulatory Commission is set to introduce a central monitoring system that would ensure that all earnings due to government on lottery are collected with precision.

The Director-General of the commission, Mr. Lanre Gbajabiamila, who made the disclosure in Abuja yesterday,

said with the new system, all the loopholes and drains in the lottery business would be blocked so that the entire taxes and revenues payable to the government are fully collected and remitted to government coffers.

Gbajabiamila in a statement issued in Abuja yesterday explained that with all the measures being put in place by the commission, lottery would

soon be contributing significantly to the federal treasury, as it is being done in advanced countries like America, United Kingdom and Spain.

The lottery commission boss affirmed that both the management and staff members of the commission are being prepped with training and enhanced welfare package for effective take off of the novel system.

The director general assured Nigerians that in addition to the recently approved peculiar allowance for members of staff of the commission, the enhanced salary structure permitted for them since 2015 would become implementable after the realisation of the new monitoring system, as the commission would then have sufficient funds to meet its obligations.

Kidnappers Making Millions of Naira in Ogun Communities, OPC Alleges Kayode FasuainAbeokuta A frontline Yoruba militia group, Oodua Peoples Congress (OPC), yesterday indicated that close to N200 million might have been made within two months by armed Fulani herdsmen, who have occupied many Ogun State communities, kidnapping for ransom.

In a statement made available to THISDAY by the state Coordinator

of OPC, Chief Adesina Jimoh, the group said it was now clear that the security agents could no longer handle the situation.

Jimoh stated that the OPC was set to serve as an alternative platform to secure lives and property in the state, and would from now on repel the headers “fire for fire, and violence for violence.”

He quoted a report in the media that the killer herders “collected

the sum of N34.5 million in three separate operations carried out in one week in Ogun State.”

The OPC leader also cited another publication which stated: “The kidnappers suspected to be herdsmen reportedly collected over N30 million from the eight victims in three separate operations carried out in different parts of the state.

“Recall also that around the second week of March 2021, two

female students of Olabisi Onabanjo University (OOU), Aiyetoro campus, were kidnapped and paid the sum of N50 million.”

He added that a female teacher, a female nurse and her guests were also recently kidnapped at the Ijebu Igbo axis of the state, in which several millions of naira were paid as ransom to secure their release.

Kwara’s Dep Gov, Others Honour Adedoyin’s Mother at Fidau Ijomu-Oro in Irepodun Local Government Area of Kwara State recently witnessed a huge gathering of prominent leaders, monarchs, elders and other Nigerians, who were in the Igbomina town to honour one of their own and former Commissioner for Information in the state and Oloriewe of Oro Kingdom, Chief Raheem Adedoyin.

Adedoyin hosted a Fidau prayer to mark the eighth day of the demise of his mother,Princess

Awawu Ajibike Adedoyin.

The late Madam Adedoyin transited on Friday, May 7, 2021 and was buried at Ijomu-Oro on the same day in accordance with Islamic practices.

At the Fidau prayer were the Deputy Governor of Kwara State, Mr. Kayode Alabi; the deputy speaker, kwara State House of Assembly, Hon. Raphael Adetiba; a former member of the House of Representatives, Hon.

Moshood Mustapha; Chairman, LUBCON, Alhaji Jani Ibrahim and All Progressives Congress (APC) stalwart, Senator Suleiman Makanjuola Ajadi.

The Oloro of Oro Kingdom, Oba AbdulRafiu Ajiboye Oyelaran1 led other monarchs and traditional chiefs to the well-attended occasion.

Other high-profile personalities in attendance at the eight days Fidau prayer which took place at the market square of Ijomu-Oro

included Mallam Saliu Mustapha, Hon. Saliu Mustapha; Chief Wole Oke; Hon. Yinka Aluko, SA to Kwara State Governor on Special Duties; Alhaji Tajudeen Adigun; member of the Kwara State House of Assembly, Hon. Felix Omotayo Awodiji; representatives of Kwara APC, Lagos State branch and members of Omo Ibile Igbomina led by its National President, Mr. Timothy Adebayo.

Okonkwo Calls for Implementation of Southern Govs’ Resolutions Iyobosa Uwugiaren in Abuja The top contender for the Anambra State governorship position on the platform of the Peoples Democratic Party (PDP), Dr. Obiora Okonkwo, has called for quick implementation of resolutions reached by the Southern governors at their recent summit in Asaba, Delta State.

Speaking at a radio programme, Okonkwo, who lauded the governors for their courage, said more needed to be done.

According to him, the resolutions need not end as a mere talk, but to be followed with action.

“What we need now is action.

We need to see the governors go beyond the resolutions and begin

their implementation. We need to go beyond rhetoric to action.

“I have read the communique.

I commend them for the show of courage, but this is the time for action. We need to see action in the communique.

“My expectation is that they should go back to their individual states and put the resolutions into action. If they

require laws or funding, they should do the needful and begin to act on those resolutions,” he said.

Okonkwo also urged cattle farmers in the country to heed the call for the ranching of their animals, saying the continued open grazing of cattle has bred so much animosity in the country.

47

˜ ͹Ϳ˜ ͺ͸ͺ͹ ˾ T H I S D AY

MONDAYSPORTS

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

Ahmed Musa Lights up NPFL as Kano Pillars Win in Kaduna Akwa Utd Maintain Grip at the top

Duro Ikhazuagbe Akwa United retained the top spot in the Nigeria Professional Football League (NPFL) Matchday 21 fixture after a 2-0 win over local rivals Dakkada, but Kano Pillars stayed in touch with the Promise Keepers courtesy of a 1-0 win against Adamawa United with Super Eagles skipper, Ahmed Musa, outstanding on his debut.

Musa who recently returned to the Nigerian topflight to stay in form after quitting the Saudi Arabian premier league, was outstanding in the Sai Masu Gida clash with Adamawa at Ahmadu Bello Stadium in Kaduna.

The former Leicester City winger set up Rabiu Ali for the winning goal 10 minutes from time.

Kano Pillars maintain second position on the table with 40 points from 21 matches.

In Ilorin, Kwara United returned

to winning ways courtesy of a 2-0 home win against Plateau United.

Jide Fatokun put the home team ahead four minutes after the break, while Stephen Jude added the second 10 minutes from time.

Kwara United occupy third position with 39 points from 21 matches.

At the Ozoro Stadium in Delta State, Mountain of Fire and Miracles FC completed the double over Warri Wolves, courtesy of a goal each from Onyebuchi Ifeanyi and Clement Ogwu.

The Olukoya Boys claimed their sixth away point of the season in the 21 week old NPFL, as they overpowered their hosts with an outstanding performance to complete the double following a 2-1 victory earlier in the first fixture in Lagos.

The hosts began the exciting match with good attacking display and created few chances in the

early minutes of the match, but they could not break the Lagos-based team solid defense.

After 24 minutes of action Onyebuchi Ifeanyi put MFM FC in front with a powerful header when he connected a well taken corner kick from Adeyinka Najeem.

Clement Ogwu doubled the lead for the Olukoya Boys in the

40th minute of match with an audacious strike.

Rivers United kept the pressure on the top three teams on the table edging out Rangers 1-0 at the Nnamdi Azikwe Stadium, Enugu.

Former Rangers player Godwin Aguda netted the winner on eight minutes.

At the Abubakar Tafawa

Balewa Stadium, Bauchi, Wikki Tourists lost 2-1 to Nasarawa United.

Manu Garba gave Wikki the lead on 22 minutes but the visitors rallied back with goals from Anas Yusuf and Silas Nwankwo.

Heartland continued their impressive form handing down a 2-0 defeat to Katsina United at the Okigwe Township Stadium.

MATCH-DAY 21 Kano Pillars 1-0 Adamawa Heartland 2-0 Katsina Utd Wikki 1-2 Nasarawa Kwara Utd 2-0 Plateau Utd Rangers 0-1 Rivers Utd Dakkada 0-2 Akwa United Sunshine 0-0 Jigawa GS Lobi Stars 2-0 Ifeanyiubah Warri Wolves 0-2 MFM

C O N F E D E R AT I O N C U P

Enyimba Walk Tight Role after 4-1 Defeat in Cairo Femi Solaja withagencyreport Egyptian club, Pyramids FC dealt Enyimba’s dream of a continental silverware this season a big blow yesterday with a 4-1 defeat of the Nigerianteaminthefirst-legquarterfinal game played in Cairo.

VictorMbaomafiredEnyimbainto the early lead within a minute when he stole the ball from goalkeeper Sherif Ekramy.

Butthehostsralliedbackwithgoals from Ramadan Robhi andAbdallah El Said in the first half.

Ibrahim Adel compounded the visitors woes with two more goals in the second half.

The reverse fixture will take place next week Sunday with Enyimba needing to score three goals without conceding to advance into the semi-finals.

No Nigerian club have won the Confederation Cup since it was founded in 2004.

Elsewhere, Contonsport needed an 89th minute winner from Lambert Ariana to edge past ASC Jaraaf 1-0 in Garoua.

The visitors were reduced to 10 men in the opening half of the match and almost held on for a draw, but Ariana volleyed home superbly on the cusp of full-time.

In Soweto, Raja Casablanca, who were so dominant in the group stages, came from behind to hold Orlando Pirates to a 1-1 draw.

The GreenEaglesnettedavaluable away goal through Ben Malango on the hour mark following Vincent Pule’s opener at Orlando Stadium.

Record three-time Confederation Cup champions CS Sfaxien suffered a shock 1-0 loss at home to JS Kabylie.

Rida Bensayah scored the only goal of the game for the Algerian visitors.

The second-leg fixtures are set to take place next Sunday, 23rd of May.

Lobi Stars Senior Official Quits

A senior official of Lobi Stars of Makurdi, Divine Ogbonnaya, has resigned his appointment with the former NPFL champions.

In a statement yesterday, Ogbonnaya, who until his resignation was the Management consultant to the team said he’s calling it quit because the environment was no longer conducive for him to work.

“I’ve served Lobi Stars for almost eight years and it’s time for me to move on. I’m leaving the team with lots of experience having worked

with different managers in my stint with the team.

“Sadly, I’ve to move on because the atmosphere was no longer conducive for me to achieve the aim I joined the team,” he said.

Ogbonnaya thanked the Benue State government, the management of Lobi Stars and the people of Benue State for the opportunity to serve and promised to make himself available in future if the right environment is provided.

Rabiu Ali (Number 10) handing over the Captain’s band to Ahmed Musa during the NPFL Match-day 21 game with Adamawa United at the Ahmadu Bello Stadium in Kaduna on Sunday evening

WOMEN’S CHAMPIONS LEAGUE

Oshoala Denied Last-gasp Goal as Barca Femeni Crush Chelsea to Lift Cup Asisat Oshoala’s last-gasp goal was yesterday ruled out for offside to deny the Super Falcons’ captain a place in the scorers sheet as Barcelona Femeni overwhelmed Chelsea ladies 4-0 to claim their first Women’s Champions League title.

Chelsea conceded four goals in the first 36 minutes as Barcelona blew them away to win their first Women’s Champions League title in Gothenburg.

Chelsea trailed 33 seconds in when an attempted clearance hit Melanie Leupolz and went in for an own goal, and Alexia Putellas’ penalty made it 2-0.

Aitiana Bonmati finished an intricate move and Caroline Graham Hansen tapped in to put a rampant Barca out of sight.

Despite a spirited second-half display there was no way back

for the Blues.

Barcelona become the first club to clinch both the men’s and women’s Champions League title, while this was the biggest ever winning margin in a women’s final.

Emma Hayes’ Chelsea side had hoped to add a European crown to their Women’s Super League and League Cup triumphs this season, as they looked to become only the second English side in history, after Arsenal in 2007, to complete the quadruple.

It was Chelsea’s first Champions League final - and the first time an English side had reached the showpiece since Arsenal lifted the trophy in 2007 - and it showed with a nervous start, and failure to turn the tide once things began to unravel.

In the first attack of the game Lieke Martens struck the bar for the Spanish champions from outside the box and from a subsequent cross Fran Kirby’s attempted clearance rebounded off team-mate Leupolz and freakishly looped in over goalkeeper Ann-Katrin Berger.

Chelsea’s Pernille Harder missed a golden chance to level when she shot over when unmarked from Jess Carter’s deep cross, and they were punished as Leupolz caught Jennifer Hermoso with her trailing leg in the box and Putellas calmly sent Berger the wrong way from the spot.

It was a second Champions League final for Barcelona and the lessons learned from their previous experience proved invaluable this time round.

Against seven-time winners

Lyon in 2019 they found themselves 3-0 down inside 20 minutes before going on to lose 4-1.

Two years later and it was they who were handing out that punishment, showing that ruthless edge that Chelsea do not yet have on the highest European stage.

Barca knocked out Chelsea’s biggest domestic rivals Manchester City in the quarterfinals and while the WSL now seems to be attracting the highest revenues and biggest names in Europe, this shows the level of its top clubs is still that bit below the leading one or two teams on the continent.

The Spanish side’s triumph brings an end to Lyon’s run of five Champions League titles in a row.

Nigeria’s Bolaji Wins Historic Gold at Spanish Para-badminton Championship Nigeria’s Eniola Bolaji made history as the first African to qualify for the final and win gold at a major para-badminton international championship.

She achieved the feat by beating Ukraine’s Oksana Kozyna 18-21, 21-14, 21-18 at the 2021 Spanish Para-Badminton International Championships which ended in Cartegena yesterday.

Competing in the Female Standing 3 (SL3) category, the Nigerian lost the first game 18-21. However, she won the last two games 21-14, 21-18

to claim the historic gold medal.

With the victory, she has also qualified for the World Parabadminton Championship coming up in Japan in October.

During the medal presentation ceremony, a minute of applause was held to remember coach/player, Bello Oyebanji who died in a car accident while trying to secure visa for the tournament.

The late Oyebanji discovered, trained and mentored the new Spanish international champion before he met his untimely death.

According to the President of the Badminton Federation of Nigeria, Frank Orbih, Bolaji’s victory is just a test of the great prospect of para-badminton in Nigeria if given total support and attention.

Orbih said: “History was made today (on Sunday) in African and Nigerian para badminton with this record setting performance

by Eniola Bolaji. She has become the first Nigerian nay African to get to the finals and go on to win a gold medal in any para-badminton event in any

international championship.

“It is a huge consolation for the badminton family that Coach Bello Oyebanji did not die in vain. It is a very emotional one for us. It shows that with consistence and resilience the results will always come.

“She played in an international tournaments for the first time with a great and amazing performance of winning gold in the single SL3 event and qualifying for the World para Badminton championship in Japan come October,” Orbih concluded.

Eniola Bolaji (second left) with other winners on the podium...yesterday

Monday May 17, 2021

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MISSILE

El-Rufai to NLC “Fathers of all hypocrites: Kaduna will wait for you all – the invisible PDP & affiliates like the hypocritical NLC that is yet to implement the National Minimum Wage Act, 2019 for its own employees” – Kaduna State Governor, Nasir el-Rufai, daring the Nigeria Labour Congress to shut down Kaduna today.

OKEYIKECHUKWU

EDIFYING ELUCIDATIONS

okey.ikechukwu@thisdaylive.com

Northern Governors, Listen to Ganduje, Masari

H

e first made the call to his fellow northerners. But he was ignored.

Then he tried, via Third Parties with media reach, to persuade herders to stop taking their cattle to the Middle Belt and the more southerly parts of the country for grazing. The conversation did not even begin. Then years rolled by. Today, more than four years since Governor Ganduje of Kano State began his campaign for sanity in livestock management in Nigeria, events are coming to a head. He had explained, back then, that his state had enough room and water resources to carter for the needs of all herders in Nigeria. He repeated this appeal some two years ago, detailing the availability of ideal natural resources for animal husbandry, and giving good reasons why this should be taken advantage of. Still, no one paid attention. Then, a few weeks back, he took great pains to draw national attention to three things, namely: (1) The steady, and frightening, flow of herders into our country, which he suggested should take up at the level of ECOWAS and stopped; (2) The fact that the presumed herders some northern governors are busy defending are also now more of gun smugglers and bandits than herdsmen and (3) The unwisdom of continued movement of cattle from the north southwards, especially because of its negative impact on the herds, the herders and farmers; in addition to the fact that it now posed a major threat to national security. But no one seems to have been paying attention to Ganduje’s objective and patriotic submissions.

The resolute deafness of Ganduje’s fellow governors from the north, who now routinely chorus a questionable defence of their cattle herding “brothers” whenever the latter seem to have issues with host communities anywhere in the country, is baffling at best. These governors were quick to protest the sacking of herders from a government forest reserves in a South Western state, which the latter occupied in defiance of the law. It certainly did not occur to the northern governors, while they were defending the deviant herders, that they were thereby actually supporting criminality. It also did not occur to them that they are also simultaneously suggesting that Fulani herders are criminals. Are they? We all know that no law-abiding Fulani person, anywhere in the country, has been evicted, harassed, insulted in any way since all this drama began. Should this not make people think? To create the impression that herders, and especially Fulani herders, are by definition not law abiding is both unfair and unreasonable. It is really sad, no doubly tragic, that the very people elected to defend the people are engaged in a clearly unintended, stigmatization of Fulani herders as criminals in Nigeria today. Why, if not for the wretched politics of leaders who are perhaps reading their brief wrongly.

Now that events are finally coming to a head, with the southern governors banning open grazing, the possibility of a quiet resolution is beginning to look distant. Would the southern governors have contemplated this, if the insensitivity of the Presidency and the impunity of Myetti Allah had sought limits in their triumphalism? Some have asked why the southern governors did not consult prominent Fulani people among them before taking their decision. They forgot to ask whether northern governors consulted anyone, including their

Masari own people, before they took their position against the EndSARS riots. Did they consult some prominent southerners among them when they introduced sharia law and Hisbah police? Most important of all, the northern governors have not stopped to ask themselves how many of the herders they are defending are actually Nigerians.

Yes, those who are screaming from the rooftop about decimation of the Fulani have forgotten to ask themselves whether it is not these same Fulani “brothers” that are wiping out the north, either as bandits, herders or insurgents. This singular fact is the most compelling reason for us to stop fooling ourselves, across all geopolitical divides. Let us pause, think and then recalibrate our actions and choice of words. Why should herders come from all over West Africa, wreck whatever they meet in the north, as they match southwards, and still be defended by northern governors? Why? Homes, communities, livelihoods and values have been demolished all over northern Nigeria by the marauding bands. What, for instance, Bauchi State in particular got to celebrate for its governor’s continued defence of rampaging herders? How has the north, or any Village Head in the north who has had his livestock

rustled, gained anything?

Initially, some could venture the view that herders were constrained to defend themselves against armed attacks by cattle rustlers. What now? Is that still the case? Ask those elected to lead their respective peoples and hold the place together for us to build one nation what they are really doing today. Impressive grandstanding, with little attention paid to the damage we are doing to national cohesion, is not leadership. It is alright to hold series of security meetings, all gearing towards getting the president to declare a state of emergency on national security. But this is not the solution many people think it is.

Governor Masari of Katsina State has already put paid to the folly of assuming that declaration of a state of emergency by the president will end insecurity, or insurgency; or remove the fact that our military and security personnel are already overstretched. Unprocured military hardware will not fall from the sky, just because the president made a speech, declaring a state of emergency. Endangered communities that have worked out a symbiotic relationship with the insurgents will not suddenly start cooperating with the military and security agencies because the president made a speech in Abuja. That is why the northern governors should listen to their Katsina State counterpart, who is speaking from a realistic perspective on this particular issue. Masari’s point is very important here, because several members of the National Assembly have also started mouthing the state of emergency lingo, obviously under the mistaken impression that they are thereby making serious suggestions about how to tackle the burgeoning national security impasse. Let’s get real!

Truth be told, the current national crisis under a Buhari Presidency is not entirely surprising. At least not to some of us. In an article which appeared on this page two months before the 2015 elections that brought in Buhari as president, I narrated how a total stranger who was a supporter of the Buhari candidacy sought me out. In the course of a long discussion about Nigeria’s future and the 2015 elections, he shot out without warning: “Please tell me, Dr Ikechukwu, if you don’t mind, what is your personal opinion of Gen. Muhammadu Buhari’? I replied that I considered him a serious-minded soldier who means well for the country. I added that I believe he had

That is why the northern governors should listen to their Katsina State counterpart, who is speaking from a realistic perspective on this particular issue. Masari’s point is very important here, because several members of the National Assembly have also started mouthing the state of emergency lingo, obviously under the mistaken impression that they are thereby making serious suggestions about how to tackle the burgeoning national security impasse. Let’s get real!

chosen the wrong path in his presidential aspiration. Then the man asked again: “So what would you advise him to do, if you were in a position to do so?” I replied that I would ask him to work with other senior retired and respected officers, in an effort to save and re-professionalise our armed forces.

Alternatively, that is if he must go into politics, he should “be part of a team of principled elders who would screen those seeking office in his chosen party, in order to play a custodian role in propagating certain leadership values.

Continuing, I said: “...the position of some of us on Buhari is not shaped by current events.

For instance when, in 1999, I wrote an article in The Guardian titled “The Mutant Called PTF”, the objective was to remind Nigerians that the PTF should be wound up after the elections ushering in a democratic dispensation… to allow the regular institutions of state the free space to rise to their statutory responsibilities under the emerging democratic order.” My position was that “A Fund that was set up as a temporary bridge intervention … could not possibly be allowed to continue in its capacity at the time, under the newly elected President Obasanjo. …Statutory agencies should regain their strength and be allowed to do their duties, to eliminate double budgeting and the antics of agencies that hide behind interventions initiatives to shirk some aspects of their statutory responsibilities – or even wreak havoc on the common till.”

Are we not going back today to variants of the sharing of “essential commodities” in the form of all manner of cash transfers, as the main business of government? Also, looking at appointments and distribution of national resources, as happened under the PTF, “…the figures and records of the performance” show “…frightening cases of avoidable inequities, questionable administrative processes and, possibly, procedural irregularities….” I said in 2015: “Then as now, the suspicion is that Buhari does not seem to easily see the full picture when it comes to the workings of a modern polity, under a process-driven template. He never saw that outsourcing of statutory state functions and also doing parallel funding of government services undermined the accounting system and created a dysfunctional service delivery environment.”

I concluded the pre-2015 election article with these words: “Gen. Buhari would long since have made a lot of difference since he left active service if he had focused on helping develop his chosen profession. Today, chances are that his current sponsors only want to use him to secure new berths and expanses. The sings are emerging by the hour.” Sadly true, I am inclined to think and say.

The real tragedy today is that no one seems to be taking inventory of what we are spending on, or where we are headed.

What is the state of our hospitals and the health sector generally, after one year into the Covid-19 pandemic and after spending a few trillions of Naira? Where are we on food supply, after tonnes of cash on agric loans?

Why has the poverty index not shown any positive signs after the trillions of Naira thrown at it for six years now? Is education faring any better, especially as insecurity is shutting down schools in an already disadvantaged northern Nigeria? This is the time to listen to reason – for all governors.

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