MONDAY 31TH MAY 2021 by THISDAY Newspapers Ltd

NNPC Plans N126bn Deduction from June Remittance to FAAC Says negotiations ongoing to acquire 20% stake in Dangote Refinery Obinna Chima in Lagos and Emmanuel Addeh in Abuja The Nigerian National Petroleum Corporation (NNPC) has served notice

to the Federation Account and Allocation Committee (FAAC) that it will deduct about N126 billion from its remittance to the Federation Account at the next meeting

scheduled for June. This is coming as the Group Managing Director of the corporation, Malam Mele Kyari, yesterday clarified that the plan by the corporation to

purchase 20 per cent minority stake in Dangote Refinery has not been concluded. In a report signed by NNPC's Bello Abdullahi, on behalf of the Chief Financial

Officer, a copy of which THISDAY obtained at the weekend, the corporation stated that subsequently, it will begin the subtraction of the balance of an additional

N50 billion, being Joint Venture (JV) cost recovery to sustain crude oil production level. In the document which Continued on page 10

Zenith, UBA Lead as Banks Lend N760bn to Customers... Page 8 Monday 31 May, 2021 Vol 26. No 9548. Price: N250

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M'Belt, Southern Leaders Rally Support for Southern Presidency North-west, South-south, South-east intensify lobby for more states Deji Elumoye and Chuks Okocha in Abuja Leaders from the Middle Belt and the South yesterday joined the crusade for power shift

to the South in 2023, after the expiration of President Muhammadu Buhari’s final tenure in office. They also expressed concerns about the

deteriorating security situation in the country and called on the federal government to impose a state of emergency in the sector. The leaders, under the

auspices of Southern and Forum (SMBLF), rising from a meeting in Abuja, during which they discussed the state of the nation as well as the 2023 general election,

called on all political parties, including the All Progressives Congress (APC) and the Peoples Democratic Party (PDP), to give preference to the South in choosing their

presidential candidates. The leaders said the North would have enjoyed the presidency for the full Continued on page 48

Tension in South-east as Separatist Agitators Follow Boko Haram’s Tactics Police allay fears as residents stockpile food items, others over sit-at-home order Christopher Isiguzo, Gideon Arinze in Enugu, Benjamin Nworie in Abakaliki, Emmanuel Ugwu-Nwogo in Umuahia, David-Chyddy Eleke in Awka Tension has enveloped the five states in the South-east as secessionist agitators ramped up attacks on security facilities and Independent National Electoral Commission (INEC) assets, in a fashion reminiscent of the onset of the Boko Haram insurgency that has now crippled the North-east. The separatist agitations in the South-east is being championed by the Indigenous People of Biafra (IPOB), which police and other security

agencies have accused of waging a terror campaign in the South-east through its paramilitary organisation, the Eastern Security Network (ESN). However, the separatist group has serially disclaimed allegations of being behind the attacks on state institutions in the South-east. Boko Haram, founded in 2002 by Mohammed Yusuf, to campaign against Western education and to seek the imposition of Islamic rule on Nigeria, had transmuted into a terror group about a year after the police killed its leader in July 2009. Continued on page 10

Buhari Mourns Gulak, as Police Say Assassins Killed... Page 5

ALL FOR PEACE IN MALI... President Muhammadu Buhari (left) with President Nana Akufo-Addo of Ghana, at the Extraordinary Session of ECOWAS Leaders on Mali in Accra, Ghana... yesterday

MONDAY MAY 31, 2021 • T H I S D AY

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NEWS

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

Buhari Mourns Gulak, as Police Say Assassins Killed Jonathan, Akeredolu shocked Remains buried in Abuja cemetery

Deji Elumoye, Chuks Okocha in Abuja, James Sowole in Akure, Amby Uneze in Owerri and David-Chyddy Eleke in Awka President Muhammadu Buhari yesterday condemned what he called "the heinous murder" of Adamawa State politician, Hon. Ahmed Gulak, in Owerri, Imo State capital, by yet-to-be identified gunmen yesterday. He vowed that the federal government would spare no efforts in bringing the killers of Gulak, an All Progressives Congress (APC) chieftain, to justice. Hours after the president announced the determination of his administration to fish out the killers, the Imo State Commissioner of Police, Mr. Abutu Yaro, said a combined team of operatives of the command’s Tactical Units, Intelligence Response Team, and Police Mobile Force had killed the suspected killers of Gulak. Former President Goodluck Jonathan, to whom the deceased was a political adviser in his administration, and Ondo State Governor, Mr. Rotimi Akeredolu, expressed shock over the killing. The Imo State Police Command has vowed to arrest the killers of Gulak. Gulak, who was killed on his way to Sam Mbakwe International Airport to catch a flight to Abuja, was said to be a consultant to the Constitution Review Committee whose assignment to Owerri ended last Thursday after a two-day public hearing. His remains, were, however, interred yesterday at the Gudu Cemetery, Abuja, in accordance with Islamic rites. Gulak conducted the last gubernatorial primaries in Imo State where Senator Hope Uzodimma emerged as the candidate of the APC. Uzodimma contested against Mr. Uche Nwosu, a son-in-law of his predecessor, Rochas Okorocha. However, Gulak, who chaired the APC Governorship Primary Election Committee in Imo State, refused to sign an alleged forged primary election result, which declared Nwosu the winner of the APC governorship primary. In the said result sheet, Uzodimma was said to have scored 9, 159 votes; while Nwosu got 455,655 votes. Gulak had secretly returned to Abuja and alleged that he narrowly escaped being kidnapped in Imo State. He told journalists that he and other committee members conducted a peaceful exercise, which produced Uzodimma as the party’s standard bearer for the 2019 governorship election for Imo State. He said Uzodinma won after securing “423,895 votes to defeat eight other aspirants, including Governor Rochas Okorocha’s son in-law, Uche Nwosu.” Gulak alleged that about nine out of the 12-member committee were “kidnapped,” by persons he described as “agents of the governor” who were led by a team of policemen to the hotel where the committee members were lodged. He alleged that he sneaked out of Owerri “under the cover of darkness at about 4:00 a.m” to make his way to Abuja. Confirming the murder of the APC chieftaincy, the police, in a statement, said: “On the 30/5/2021, at about 07:20hours, armed bandits intercepted and attacked a Toyota Camry cab

carrying Ahmed Gulak and two others who were on their way to Sam Mbakwe Airport to catch a flight.” The state Police Public Relations Officer, Mr. Bala Elkana, a Superintendent of Police, said in the statement that Gulak left his room at Protea Hotel without informing the police or sister agencies in view of the fragile security situation in the South-east and Imo State in particular. “He left without any security escorts and while the cab driver took irregular route to the airport, six armed bandits who rode in a Toyota Sienna intercepted, identified and shot at Ahmed Gulak at around Umueze Obiangwu in Ngor-Okpala Local Government Area close to the Airport. “The Commissioner of Police Imo State, CP Abutu Yaro, has directed a discreet investigation into the matter as Tactical and Special Forces have been deployed to cordon the area and arrest perpetrators,” he added. Reacting to the killing, the president, in a statement by his spokesman, Mallam Garba Shehu, said: "I'm repulsed by such premeditated and gruesome murder of Gulak by evil people who are determined to undermine the peace, unity and territorial integrity of our country.” He, however, warned that nobody or group of people who engage in such despicable acts should expect to go free, adding that "we will deploy all resources at our disposal to ensure that such callous and criminal elements are brought to justice.” Buhari expressed his condolences to the family of the deceased, the people and government of Adamawa State as well as his friends and associates all over the country. On his part, Jonathan described Gulak's death as a painful loss, noting that the deceased was a loyal public servant and dedicated patriot. In a statement yesterday by his Special Adviser on Media, Mr. Ikechukwu Eze, Jonathan prayed God to comfort his family and grant his soul eternal rest. He said: "I received with shock the death of Alhaji Ahmed Gulak who died on Sunday, May 30, 2021, in Owerri, Imo State. "Gulak was a loyal public servant and dedicated patriot who gave his all in service to his country. His death is a painful loss to me and many others who worked and interacted with him. "He will be remembered for his modest contributions to the growth of our nation's democracy, especially his memorable days both as a skilful speaker of Adamawa State House of Assembly and political adviser in our administration. "My deepest condolences to his family, the government and the people of Adamawa State, who are bound to feel the loss of this eminent and patriotic Nigerian. "May God grant his family, friends and supporters solace, even as I appeal for calm while law enforcement bodies carry out their investigations." Akeredolu also described the news of the death of Gulak as shocking and disturbing. Akeredolu, in a statement he personnaly signed and made available to journalists in Akure, also described as "unacceptable," the statement credited to the Imo State Police Command that some bandits were responsible for Gulak's murder.

He said: "This is one murder too many. It is senseless and wicked. The perpetrators of this heinous act are enemies of this country. "This contrivance is meant to mislead, confuse and destroy. It bears the unmistakable, despicable imprints of fifth columnists bent on setting the country on the path of conflagration. These criminals must not be allowed to succeed. "We want to use this medium to express our solidarity with our brother Governor of Imo State, Senator Hope Uzodinma. We admonish him and other governors in the South Eastern states to brace up, and confront the current security challenge to put an end to the bloodbath in the land. The enemies of the people always employ the weapon of fear to create disaffection in the polity. "This cowardly act is calculated to instigate Nigerians against each other, particularly Northerners, against the Igbo living outside the South-east."

Suspected Assailants Killed, Say Police The Imo State Police Command also yesterday said its personnel had killed the suspected assassins of Gulak. Elkana, in another statement,

said rifles, pistol and ammunition were recovered from the suspects. He added that the vehicles the slain hoodlums used in killing the former presidential aide were also recovered. He stated that the operatives overpowered the gunmen during the gun duel, adding that the two Armoured Personnel Carriers (APC) used during the operation were riddled with bullets. The statement said: “On 30th May, 2021, following distress received by the command on the gruesome murder of Ahmed Gulak, Police Special Forces, made up of Intelligence Response Team, Police Mobile Force (PMF) and Tactical Units from the command, were deployed in the scene at Obiangwu Junction at Ngorokpala LGA of Imo State. The teams were given a clear instruction to identify and apprehend the perpetrators of the act with a view to bringing them to justice. “Eyewitness account, especially the account given by the driver of the vehicle that was conveying Ahmed Gulak to the airport before the attack, gave a vivid description of the assailants and the vehicles they used in carrying out the attack. “The assailants were said to have used a Toyota Camry 2005 model with silver colour; Toyota Sienna 1998 Model with golden colour; Toyota Hilux with white

colour; and a Lexus RX 330 with golden Colour. (Registration numbers are withheld for security reasons). “Having established the identity of the assailants and the description of the vehicles used in carrying out the attack, the teams further got details of the direction the hoodlums have taken. “With further leads, the team was able to establish the location of suspects. The suspects were rounded up at Afor Enyiogugu junction in Aboh-Mbaise Local Government Area. The hoodlums were met distributing onions to locals from a trailer they confiscated. The trailer was loaded with onions from the Northern region of Nigeria. “On sighting the police, the hoodlums providing security coverage to those sharing the onions opened fire on the police teams. The gallant and battle-ready police officers swiftly returned the fire. The six hoodlums who carried out the killings and four other members of their gang were fatally injured. Three out of the four vehicles used in attacking Gulak were recovered. “Three AK-47 rifles, one pistol, five AK- 47 magazines with ninety two rounds of live ammunition and criminal charms were recovered. During the encounter, two of the police

armoured personnel carriers were riddled with bullets but survived the gun battle."

Gulak buried in Abuja Cemetery The body of Gulak was last night laid to rest at the Gudu Cemetery, Abuja. A chartered flight, which earlier left Abuja for Owerri to airlift his remains as there was no available flight from Owerri, the Imo State capital, brought in the body yesterday evening. His corpse arrived in Abuja from Owerri at about 5.15pm, and was received by Senator Abubakar Gada and Gulak's son. From the airport, the body was moved to the National Mosque, Abuja, for a funeral prayer that lasted about 10 minutes. He was buried at about 7.55 pm.

We Didn’t Kill Gulak, Says IPOB Meanwhile, the Indigenous People of Biafra (IPOB) has denied involvement in the killing of Gulak. Spokesperson of IPOB, Mr. Emma Powerful, said in a statement yesterday that the accusation by security agencies that it killed Gulak was an untenable one.

THANKSGIVING TIME... L-R: Governor of Oyo State, Mr Seyi Makinde; his wife, Tamunominini; Chief of Staﬀ to Oyo State Governor, Chief Bisi Ilaka, and Secretary to the State Government, Mrs. Olubamiwo Adeosun, during a thanksgiving to mark the governor’s second anniversary in oﬃce, in Ibadan...yesterday

Scores of Students Feared Kidnapped in Niger Laleye Dipo in Minna A yet-to-be-estimated number of students of an Islamiyya school located at Tegina in Rafi Local Government Area of Niger State have been abducted. One person was shot dead while another was critically injured after gunmen attacked the school at about 4:30pm yesterday. A resident of the area, Zayyad Mohammed, confirmed the incident to Channels Television in a telephone interview. Mohammed said the Salihu Tanko Islamiyya School, where the incident took place, was built by a retired immigration officer. According to him, the school is not the usual boarding Islamic citadel, but an unconventional

one where parents send their children daily to acquire Islamic education. An eyewitness told THISDAY that the gunmen went to the school, close to the Tegina Police Station, and abducted the children. It was gathered that they separated the smaller children from the older and stronger ones, taking away those in the latter group to an unknown destination. Tegina town is a few kilometres from Kagara the headquarters of Rafi LGA, where 27 school boys were abducted on February 27. Director-General of the Niger State Emergency Management Agency (NSEMA), Alhaji Ibrahim Ahmed Inga, confirmed

the incident when contacted on telephone but said "we don't have the details yet." Niger State Police spokesman, DSP Wasiu Abiodun, a Deputy Superintendent of Police, confirmed that a horde of bandits on motorcycles invaded Tegina town, shooting indiscriminately, during the operation. Abiodun said operatives were yet to ascertain how many children were abducted. He said the command had mobilised all tactical teams, including Operation Puff Adder 2, to rescue the abductees. Abiodun called for calm, saying that the police, in conjunction with other security agencies, will do everything possible to ensure that the children are rescued unhurt.

Similarly, the Secretary to the Niger State Government, Mr. Ahmed Matane, said the state government was in touch with parents in the area to know those whose children were abducted. Matane, who is the chairman of the State Security Committee, added that while the attack in Tegina was going on, there were simultaneous attacks in Lavun LGA and some fringes of Mashegu LGA. He said though the simultaneous attacks were overwhelming for security agencies at the time, the government in collaboration with the security agencies had mobilised troops to the various locations, including local vigilantes.

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NEWS

Zenith, UBA Lead as Banks Lend N760bn to Customers

Goddy Egene

Eight banks gave out loans and advances worth N760 billion in the first quarter (Q1) of 2021 in a bid to stimulate economic growth constrained by numerous headwinds, according to data compiled by THISDAY. The banks are: Access Bank Plc, FBN Holdings Plc, FCMB Holdings Plc, Fidelity Bank Plc, Stanbic IBTC Holdings Plc, United Bank for Africa (UBA) Plc, Wema Bank Plc and Zenith Bank Plc. The lending figures, collated from the unaudited results of the banks, showed that Zenith Bank Plc led with N260 billion, which raised its loans and advances portfolio to customers to N2.841 trillion at the end of Q1, up from N2.581 trillion at the end of December 30, 2020. UBA followed with N178 billion in the three months under review to put its loan portfolio to customers at N2.733 trillion, from N2.555 trillion. Stanbic IBTC gave out N105 billion loans to customers, making its total portfolio as at the end of Q1 to be at N730 billion, up from N625 billion in December. FBN Holdings Plc gave out N82 billion as loans to customers, raising its portfolio from N2.217 trillion to N2.299 trillion, while FCMB lent N63 billion during the review period, thereby bringing the bank’s loan portfolio to N886 billion, up from N823 billion in December. Access Bank Plc accounted for N38 billion to bring its loan portfolio to N3.256 trillion compared to N3.218 trillion, while Wema Bank Plc gave out N8 billion in the Q1 to end with a loan portfolio of N368 billion, from N360 billion. Commenting on the credit to customers by banks, a financial expert and securities dealer, Mr. David Adonri of Highcap Securities Limited, said shortterm credit was required by businesses to finance their working capital. “Banks are the source of this type of finance. As a result of risk management considerations, bankability of requests is a major factor in credit creation. Of course,

banks will usually observe the canons of lending when granting credits. If the economic environment is conducive and prospect is bright, the confidence to grant credit to borrowers will be high because repayment is guaranteed,” he said. According to him, the volume of credit granted in Q1, 2021 by banks rose because of increase in economic activities. “Fund users demanded more credit during the period to ramp up their products and services to cover increased consumer pull. The demand on banks for credit also resulted in increased borrowing by banks from Central Bank of Nigeria (CBN) during the period. "The supply gap in the economy is still huge and this will increase demand for bank credit. As a result, banks will create more credit this year to meet the rising Gross Domestic Product (GDP) growth rate revised from 1.5 per cent to 2.7 per cent,” he added. Another financial market analyst, Abiola Rasaq, said the relatively strong loan growth reflected the minimum loanto-deposit ratio policy of the CBN, attendant punitive cash requirement, moral suasion and renewed appetite of banks to lend to the real sector, as yield on risk-free instruments plunged to near-zero last year. “It is also pertinent to note that the banking sector credit growth was partly funded by the various CBN intervention schemes, including the Real Sector Intervention, Target Credit Facility, Anchor Borrowers Programme and Healthcare Support Intervention amongst others. Interestingly, gross banking sector credit further grew N850 billion or 3.7 per cent to N23.5trillion in the Q1 of the year, reflecting the improved appetite of banks to lend to the real sector,” he stated. Razaq attributed the unprecedented credit expansion, amidst uncertainties that characterised the past 18 months, to both demand and supply factors. “On the credit supply side, the banks had to resort to risk asset creation to protect interest

margins and profitability, as yields on risk-free sovereign instruments plummeted to near-zero, a phenomenon which reinforced the need for banks to search for higher yields in core intermediation business. “More so, banks had to accelerate loan growth to meet the minimum loan-todeposit ratio requirement of the CBN or risk the punitive CRR, which meant CBN sterilising their funds at no interest, a regulatory fiat which encumbered over 40 per cent of some banks’ deposit. Further reinforcing the strong loan supply was the various intervention schemes of the CBN; banks, including microfinance banks, played notable on-lending/ intermediation role in fulfilling the last mile for the CBN intervention schemes,” he said. He added: “On the demandside, corporates sought to take advantage of the historically

low-interest rate environment in expanding their production and service lines. Whilst the macro and social uncertainties may have undermined appetite for business expansion and corporate investments in the period, entrepreneurs and business leaders, with deep understanding of the Nigerian socio-economic environment and long term investment philosophy considered the challenges as a part of the inevitable macro cycles of a developing market, hence reinforcing their appetite to make good use of the unprecedented access to credit at business-friendly interest rates in repositioning their business ahead of economic recovery. "Though, with modest impact, the pandemic also stimulated credit demand and indeed supply to the healthcare sector, including pharmaceuticals, as COVID-19 reinvigorated the need to invest

in the ailing healthcare system.” According to him, loan growth may be relatively tapered, as the sovereign yield curve rises and banks seek new opportunities in this low-risk asset class, thus undermining the appetite for loan growth. He said: “For instance, yields on bonds have “doubled” year-to-date, with the yield on long-term 30-year sovereign bond rising from seven per cent levels in December 2020 to 14.2 per cent as at Friday, 28 May 2021. More so, as banks re-price loans to reflect the higher interest rate environment, the demand for loans may falter, particularly as investment-grade borrowers may have largely expressed their loan appetite through the money and debt capital markets in the past 18 months. "Anecdotally, banks may also be cautious of asset quality and capital positions going forward, thus moderating appetite and headroom for

credit growth. “Even so the banking sector Non-Performing Loan (NPL) ratio moderated 71 basis points year-on-year to 5.89 per cent in April 2021, the nominal value of NPL may be rising, hence putting off the risk-on sentiment of banks, especially as the lagged impact of the weak macros may also season out in the form of higher loan delinquency in the quarters ahead. "Also, inter-bank and overall system liquidity is moderating, hence lowering the pressure in the loan supply taps. In addition, given the notable dollarisation of banks' loan portfolio, the relative weakness of the naira may put further pressure on banking sector's capital adequacy ratio, which stands around 15.8 per cent, though higher than the minimum requirement. Thus, the loan growth in the quarters ahead may moderate to low single-digit.”

HONOURING ONYEMA... L – R: Group Managing Director/Chief Executive Oﬃcer, Nigerian Exchange Group (NGX Group) Plc, Mr. Oscar N. Onyema, and the President, National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Hajia Saratu Iya Aliyu, during the presentation of Excellence Award for Contributions to Capital Market Development to Onyema, at the NACCIMA at 60 Awards, in Abuja...recently

Constitution Review: North-west, South-south, South-east Intensify Lobby for More States Christopher Isiguzo in Enugu, John Shiklam in Kaduna, Amby Uneze in Owerri and Omon-Julius Onabu in Asaba Agitators for the creation of new states in South-east, South-south and the Northwest geopolitical zones at the weekend intensified their lobby of the National Assembly to ensure that their demands sail through, investigations have revealed. THISDAY learnt that the agitators made forceful arguments for new states in

their memoranda submitted to the Senate Committee on Constitutional Review, which concluded its two-day public hearing in the six geopolitical zones of the country last Thursday. Some of the promoters of the new states told THISDAY that even though they submitted their memoranda to the committee at the various venues of the public hearings, they would not rest on their oars until their demands were met. Prior to the two-day public

hearing, the people of the South-east geopolitical zone had sustained an agitation for the creation of an additional state in the zone. Their demand stemmed from the fact that of the six zones in the country, only the South-east has the least number of states, which is five. While the North-west has seven states, each of the other four zones has six states. It was gathered that the quest for equity in the distribution of states among the zones made political leaders

in the zone to sustain their agitation over the years. The agitations had featured prominently in past constitutional reviews and during previous National Political Reforms Conferences. As at the last count, many groups from the South-east had demanded the creation of either Adada State from the present Enugu State, Etiti State from different states in the zone, Orashi State from Imo and Anambra States, Njaba from the present Imo State or the excision of Aba State from

Abia State. However, during last week's public hearing organised by the Senate Committee in Enugu for Enugu, Anambra and Ebonyi State, only the demand for the creation of Adada State featured. At Owerri, the second venue for the hearing in the South-east where Imo and Abia states made submissions, the agitators wanted Aba State to be created. The demand for the creation of Adada State, which is believed to be the collective

agreement of the entire states in the area, was made by the people of Nsukka in Enugu North Senatorial District. A member of the Committee for the Creation of Adada State told THISDAY at the weekend that the creation of Adada would give the people of the zone a sense of belonging. “The zone has suffered long years of neglect. It has the population and resources to sustain it as a state. We are following up Continued on page 48

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PAGE TEN NNPC PLANS N126BN DEDUCTION FROM JUNE REMITTANCE TO FAAC detailed the status of the corporation’s finances during its monthly FAAC meeting, which took place between May 19 and 20, the NNPC also confirmed that it did not make any remittance to the Federation Account during the period. The development may further throw the three tiers of government, federal, states and local governments, into harsher times next month as they may get less from the Federation Account, as a result of the huge payment the NNPC is paying for subsidy on petrol. In April, the corporation had notified the AccountantGeneral of the Federation (AGF), Mr. Ahmed Idris, that it would not be able to remit any funds to the Federation Account in April for distribution in May. NNPC said it posted a value shortfall of N111.966 billion in February 2021, which would ultimately impact on its ability to contribute to the joint account shared among the federal, state and local governments. The corporation attributed the N111.966 billion shortfall to the rising average landing cost of petrol, which jumped to N184 per litre in March as opposed to the existing N128 ex-coastal price. According to the corporation, the N111.966 billion incurred as landing cost would be deducted from April oil and gas proceeds due to the federation in May. However, it was learnt that the impact on the federation was not as far-reaching as expected because the Department of Petroleum

Resources (DPR), which collects royalties and bonuses on behalf of the federal government, came to the rescue with the remittance of about $500 million it received from the marginal fields it recently put up for bids. Minister of State for Petroleum Resources, Chief Timipre Sylva, had confirmed the role played by DPR in augmenting the FAAC allocation for April, which was shared in May. The minister, however, did not disclose how much was paid into the account. But the NNPC had in a reaction to the dust raised by the letter to the accountant general, stated that the corporation wasn’t broke, adding that the zero revenue projection only had to do with the federation revenue stream, which it manages and not a general reflection of its overall financial performance. In the fresh notice raised by the corporation to deduct N126 billion from its remittance in June, it said it was still shouldering the burden of the differentials from the sale of petrol, which it prefers to call “under-recovery”. The FAAC document added: “No remittance to Federation Account in April, 2021 (May, 2021 FAAC) due to recorded value shortfall resulting from difference between landing cost and ex-coastal price of PMS (petrol) recorded in March, 2021. “The sum of N61,966,456,903.74 was deducted out of the total March value shortfall of N111,966,456,903.74. This is to make funds available for

JV cost recovery to sustain the existing production level. The balance $50,000,000,000.00 will be deducted in subsequent months. “In addition, April value shortfall of N126,298,457,944.36 is to be deducted from May federation proceeds in June 2021 FAAC meeting.” The figures further showed that while a net revenue of N90.8 billion was remitted to FAAC in January, N64.1 billion was remitted in February, N41.1 billion was presented in March and zero amount recorded for April. Meanwhile, the corporation has said that it sold total oil and gas valued at $565.4 million or an equivalent of N214.5 billion in April, according to the document. NNPC stated that its overall crude oil lifting for both export and domestic in March 2021, recorded 29 per cent decrease relative to the 10.79Mbbls lifted in February 2021. The national oil company said Nigeria maintained 1.52 million bpd OPEC production cut in the first quarter of 2021, while export crude oil revenue received in April amounted to $1.89 million, equivalent to N723 million. “This represents a 98 per cent decrease compared to March 2021. Domestic gas receipts in the month was N5.13bn,” it added. It stated that feedstock valued at $54.6 million was sold to Nigeria LNG during the period out of which $52.4 million was received during the month, with the difference being Modified Carry Agreement (MCA) obligations, gas reconciliation

and credit notes. MCA is a financing agreement whereby the International Oil Companies (IOCs) advance loans to NNPC to invest in upstream projects. For other receipts, the corporation stated that $1.25 million, being miscellaneous receipts, gas and ullage fees and interest income was received in April 2021. The data also showed that the exchange rate the CBN sold foreign exchange to the NNPC moved from N379 to N383.47, while N15 billion was spent on government priority projects. In the same month, the corporation lost 3.1 million barrels for various reasons, ranging from shut-ins due to repairs, industrial actions, flow line leaks and power failure. On the analysis of receipts due in April, gross revenue from JV crude was N124.3 billion, JV gas was N26.1 billion, while N5.8 billion was received from miscellaneous sources, amounting to N156.3 billion. After deduction of royalty, JV cost recovery, profit before tax and taxes, receipts from JV crude came down to N5.5 billion, while that of JV gas stood at N7.8 billion. Of the March domestic crude oil payable in June by the NNPC, in line with the 90-day payment plan, Chevron Nigeria Limited has roughly 2.89 million barrels valued at N72.6 billion while Eroton’s share is 130,000 barrels valued at N3.1 billion. Also, Mobil Producing has 2.84 million litres, valued at N68 billion, Seplat’s is N3.36 billion, SPDC’s share of the JV

is N33.6 billion while the value of Total’s crude oil payable in June is N3.1 billion, totalling approximately N184.5 billion or equivalent of $487 million. As of March 31, total pre-2016 JV cash call arrears repayment status indicated that JV negotiated debt remained at $4.68 billion, total payment till date is $3.1 billion, while outstanding balance is $1.54 billion, with the exception of Mobil which has been fully paid by the NNPC. In April, N938.9 million was spent on security and maintenance, while strategic holdings of the NNPC gulped N740 million, amounting to N1.679 billion. In all, 37 vessels imported petrol for the month under review, with landing cost ranging from between N169 and N199.90. Also, a total of N1.48 billion litres were imported for the month, 1.99 billion litres were sold, with depot price remaining at N128 and the recorded loss put at N111.9 billion.

NNPC: Negotiations Ongoing to Acquire Stake in Dangote Reﬁnery, The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Malam Mele Kyari, yesterday clarified that the plan by the corporation to purchase 20 per cent minority stake in Dangote has not been concluded. Kyari, in a text message in response to enquiries by THISDAY on the matter, said the terms of the agreement

were being finalised and could be subject of non-disclosure understandings. He added that the NNPC is interested in acquiring a stake in any private refinery with a capacity in excess of 50,000 barrels per day and not just the Dangote Refinery alone. He said: “On the Dangote Refinery acquisition, it’s actually an ongoing negotiations that was disclosed by one of our executives. We haven't concluded; terms are being finalised and may be subject of non-disclosure understandings. “It’s difficult to discuss the details at this point. However, the decision is for NNPC to expand her portfolio as is the common practice amongst national oil companies as matter of energy security considerations and risk management. We will take equity from any refinery that plans to process in excess of 50,000 barrels per day, not just the Dangote.” The 650,000 barrels per day (bpd) integrated Dangote Refinery, expected to process a variety of light and medium grades of crude, including petrol and diesel as well as jet fuel and polypropylene, is owned by Nigeria’s Dangote Group and is worth about $15 billion. It is designed to produce about 50 million litres of petrol and 15 million litres of diesel a day, roughly 10.4 million tonnes of the product, 4.6 million tonnes of diesel, and four million tonnes of jet fuel per year, in addition to having a fertiliser plant, which will utilise the refinery by-products as raw materials.

TENSION IN SOUTH-EAST AS SEPARATIST AGITATORS FOLLOW BOKO HARAM’S TACTICS It started its terror campaign with attacks on soft targets and progressed to assaulting police formations, including the Force Headquarters, Abuja, and the United Nations building, in Abuja. In adopting the Boko Haram strategy, the separatists in the South-east, besides attacking police facilities in the South-east, have widened their targets to include INEC offices and the correctional facilities in the zone. Investigation by THISDAY showed that many police stations and INEC offices and assets have been attacked in the zone in the past few months. In Imo State, two INEC offices in Ahiazu Mbaise and Njaba LGA were attacked this year. The police facilities attacked included the State Command Headquarters, Owerri, Orlu Police Station, Owerri Police Station, Njaba Divisional Headquarters, Okigwe South Area Command Headquarters, Mbaitoli Police Station and Umulowo Police Division in Obowo Local Government Area. In Enugu State, the Separatists have attacked INEC offices, including Udenu LGA head office in Obollo Afor, state headquarters in Enugu and Igbo Eze South LGA headquarters. They also attacked police stations in Ezeagu and Uzo Uwani. Also, INEC offices attacked in Ebonyi State included the ones in Ezza North LGA, Ebonyi LGA and Izzi LGA. The separatists have also attacked police stations such

as CPS Abakaliki, Kpiripkiri Police Station, also in Abakaliki, Ekeabo Police Station, also in Abakakili, Onueke Police Station, Uburu Police Station in Ohaozora, Ezza North, Ebonyi LGA police station, Okposhi Police Station also in Ohaozora, the Police Divisional Headquarters in Isu, Onicha Local Government Area and Iboko Divisional Police Station in Izzi Local Government Area However, the only INEC office burnt in Abia State is in Ohafia. But the separatists have attacked the following police stations: Abayi Divisional police Headquarters in Aba, Bende Divisional Headquarters, Apumiri Ubakala Police Station in Umuahia South, Mike Okiro Police Station, Omoba Police Station in Isiala Ngwa LGA and the state Police Criminal Investigation Department in Umuahia, the state capital, assaulted on Saturday. In Anambra State, gunmen attacked the state headquarters of INEC in Awka, the state capital. They also attacked Ekwulobia Police Station, Nanka; police checkpoint at Neni, Anaocha LGA; Obosi Police Station in Idemili North LGA; B Police Division in Awka; Ozubulu Police Station in Ekwusigo Local Government Area and zonal police headquarters in Ukpor, Dunukofia LGA. Meanwhile, residents of the five states of Anambra, Enugu, Imo, Abia and Ebonyi, at the weekend stockpiled foods and other necessities ahead of today’s

sit-at-home order issued by IPOB in honour of those who died during the Nigeria-Biafra Civil war. THISDAY’s investigation revealed that residents of the five states have been involved in panic-buying for fear of the unknown. IPOB had asked states in the South-east to observe a sit-athome today in remembrance of gallant soldiers and others who lost their lives during the Biafran civil war. In Enugu State, the police, however, have assured residents of the state that there is no cause for alarm as steps have been taken to ensure the protection of lives and property. But the residents in the state over the weekend, trooped to the popular Ogbete market to shop for their various needs ahead of today’s sit-at-home order. When THISDAY visited the market on Friday and Saturday, there was a surge in the number of people who went to shop for food items and other needs. Those who spoke to THISDAY on condition of anonymity, said they were going to comply with the sit-at-home order. However, the Enugu State Police Command has asked residents of the state to disregard the sit-at-home order and to go about their normal business. In a statement given to journalists by the Police Public Relations Officer, Enugu State Command, Mr. Daniel Ndukwe, an Assistant Superintendent of Police, the Commissioner of Police in the state, Mr. Mohammed Ndatsu

Aliyu, enjoined residents to disregard the order. He warned any anybody or group harbouring any sinister intentions to disrupt the peace in the state, to desist forthwith, as such attempt will be resisted. Aliyu assured the residents of the commitment of the police to collaborate with other security agencies to guarantee public security and safety. He called on parents and guardians as well as religious, traditional, town union, market, youth and other leaders to caution their subjects against allowing themselves to be used to cause trouble. He also urged residents to remain law-abiding, vigilant, as they go about their legitimate businesses, and promptly report criminal elements to the nearest police station. Investigation revealed that there may be a compliance with the sit-at-home order in Ebonyi State, following the fear of possible attack on violators. A businessman who spoke to THISDAY that no one would risk his life to go to shop. Majority of residents who spoke on the directive said they would obey it. The Ebonyi State Governor, Mr. David Umahi, has threatened to seize any shop not opened for business in compliance with the sit-athome order. The governor also directed security agencies to protect Ebonyi people against attacks from non-state actors seeking to enforce compliance with the sit-at-home order. Umahi said: "I have been

getting voices from some agitators that tomorrow there will be no movement. This is foolishness. If there is no movement in South-east, will there be no movement in the whole country? "What an Ebonyi man will never accept is to go into second slavery under any guise. We know the Biafra we need, it is to have money so that we can cleanse off the toga of slavery that our brothers and sisters subjected us into. If you love Ebonyi State, bring money, come and put up one construction. "We want to see your investment in Ebonyi State. I want to say there will be free movement throughout today, throughout tomorrow and going forward and I challenge the youths, security agencies, local government chairmen to ensure that nobody is molested.” Residents of Abia State were also in a panic mode yesterday following the weekend attacks on the State Crime Investigation Department(CID) in Umuahia and the sit-at-home order. People barely managed to attend church services yesterday amidst the already tensed situation. They rushed home as soon as church services were over. People were seen drifting to Isi Gate, the only area of the city where they could buy household needs as regular markets and most shops do not usually open on Sundays. "We don't know what tomorrow will bring," said Nazi Uzoma Udoka, a resident of Umuahia as he waited with his family to board a tricycle home after

the church service. He told THISDAY that "every day comes with uncertainties" adding that "these days when people go out in the morning, they find it very difficult to return home at the end of the day as ugly incident would have happened and cause the police to block the roads." "It's in everybody's interest to comply with the stay-athome order because if you venture out the outcome could be unpleasant," he said. Police spokesman, Geoffrey Ogbonna, a Superintendent of Police, did not pick calls when THISDAY telephoned him to find out preparations to protect the people. There was also tension in Continued on page 48

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MONDAY MAY 31, 2021 • T H I S D AY

T H I S D AY • MONDAY, MAY 31, 2021

COMMENT

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

TEMPLATE FOR ROBUST FOOD PRODUCTION Mohammed Kandi writes that the Songhai farm in Minna is doing exceptionally well

uccessive governments in Nigeria have come up with a number of strategies and approaches to address food scarcity. As ambitious as those approaches were, they failed to achieve much, owing to policy inconsistency and complete neglect by succeeding governments. The President Muhammadu Buhari-led government has indeed shown some flashes of seriousness and determination in its resolve to make Nigeria a major food hub in the continent and globally. To achieve this very important feat, the President Buhari administration is reforming and repositioning the agricultural sector to meet the food needs of Nigeria and serve as net exporter of agricultural commodities. The Nigerian government is anchoring its food security drive and initiative which is aimed at tackling food insecurity, hunger and acute poverty on existing and reliable bodies like the River Basin Development Authorities (RBDAs). In a concerted effort made by the federal government to enhance the operations of all the River Basin Development Authorities through its supervisory agency, a recent pronouncement by the Minister of Water Resources, Suleiman Adamu indicated that a lot was being done through the RBDA’s to address issues of food security in Nigeria. The minister was particularly assertive on the volume of work currently being carried out at various RBDAs, sighting possible commercialisation of their activities for increased revenue generation. There are several initiatives aimed at seamless implementation of RBDA’s mandates, one of which is the domestication of Songhai Farm, as a model that would facilitate Nigeria’s expedition to self-sufficiency in food production. The Upper Niger River Basin Development Authority (UNRBDA) under the leadership of Prof. Mohammed Abdulkarim Ali, was rated the best amongst others for its commitment to the implementation of the Songhai farm prototype. As the Managing Director, Prof. Ali’s tenacious drive to proactively change public perception about the authority, especially from his provision of firm leadership to timely execution of multi-billion naira projects within the franchise of the UNRBDA including Niger, Kaduna and the FCT cannot be contested. He has shown leadership, compe-

RESIDENTS FROM COMMUNITIES AROUND THE MODEL FARM IN MINNA HAVE CONTINUED TO THRONG THE SALES UNIT TO PROCURE VARIOUS PRODUCTS OF THEIR CHOICE, EVER SINCE COMMERCIAL ACTIVITIES COMMENCED IN THE FARM. THEY’VE DEVELOPED AN AFFINITY FOR THE FARM FOR A SINGLE REASON - ALL PRODUCTS FROM FARM ARE ORGANICALLY PRODUCED

tence and capacity in the discharge of his responsibilities as well as other adhoc assignments given to him. Already, Nigerians are beginning to reap from the Songhai farm in Minna, the Niger State capital. Whilst the Ouando Centre, the main experimental site of the Songhai Farm in Porto-Novo in Benin Republic currently sits on over 22 hectares of land, the Model Farm Minna, which is one of its prototypes resides on approximately 7.51 hectares (75068 m2) and lies at altitude 310 m above the mean sea level, with a cultivated area of about three hectares within the premises of the UNRBDA headquarters. An integrated system of farming that combines different agricultural activities to increase food production and maximize returns per hectare was enabled in the Minna Farm Model, with the support of some expatriates from Songhai Farm in Benin Republic. Residents from communities around the Model Farm in Minna have continued to throng the sales unit to procure various products of their choice, ever since commercial activities commenced in the farm. They’ve developed an affinity for the model farm for a single reasonall products from farm are organically produced. As products disappeared from the shelves, sooner were products replaced in their troops to meet the daily needs of customers. The constant demand for smoked fish, eggs and processed Gari- mixed with coconut or with pineapple have kept staff at sales point busy all day. Already, the farm management is planning to deploy some state-of-the-art storage facilities for preservation of other perishable crops like pawpaw, cucumber and okro that are often scarce, no thanks to their shorter life span. The MD has repositioned the farm as a model to draw huge revenue from training, entrepreneurship and agricultural needs of Nigerians. Also, there are eight sections in which various agricultural activities are organized into a functional unit to profitably harness resources. These are: agroforestry (orchad), poultry, fishery, market garden (arable farm), ruminant section (livestock), processing, bio-gas production plant and sales point. Various groups mostly women have received trainings in poultry, fish and agroforestry farming. Kandi, is the Special Assistant (Media & Publicity) the MD, Upper Niger River Basin Development Authority.

NSIP: KEEPING HOPE ALIVE The administration is empowering many through a more equitable distribution of resources, writes Danliti Goga

f there is one area of governance that continues to keep hope alive in today’s Nigeria where blood-letting and violent crimes overshadow the lives of citizens and the relevance of government, it is the frequency and variety of ameliorative interventions delivered diligently as government investment in the quality of lives of its poor and vulnerable citizens. The interventions which offer a range of relief-bearing packages, including cash grants and entrepreneurial opportunities, constitute a tangible translation of the elusive “dividend of democracy” into a practical manifestation of benefit of citizenship and inspiration of confidence in a brighter future. As an innovative policy initiative of the Muhammadu Buhari administration that earned priority transformation with the creation of a first-time ministry exclusively dedicated to humanitarian affairs, disaster management and social development, where the rural peasant, the urban poor and other vulnerable citizens, commonly face the greatest hazards, the National Social Investment Programme (NSIP) marks a giant leap in the quest for people-oriented government. At last, there are millions of Nigerians who can now testify to direct federal government contribution to their livelihoods, vindicating the administration’s declared objective of ensuring “a more equitable distribution of resources to vulnerable populations, including children, youth, and women”. One of the most impactful and promising of these interventions is the NPOWER programme that kicked off in 2016 and has now benefitted over one million youths. The Ministry of Humanitarian Affairs, Disaster Management and Social Development under the indefatigable Sa’adiya Umar Farouk, has been enhancing implementation strategies while boosting the intake to one million in two C batches, currently being processed, as approved by President Buhari.

Among the enhancements to make the programme more effective, the National Social Investment Management System (NASIMS) will enable beneficiaries to access a range of content for industry learning experiences and also interact with industry experts for hands on experience. NASIMS also enables them to communicate concerns and promptly receive feedback and experience seamless beneficiary verification process. The continuing impactful implementation of NPOWER has drawn increasing enthusiastic interest of its target age group of between 18 and 35, eager “to acquire and develop life-long skills for becoming change makers in their communities” as the NPOWER policy declares. Additionally, a steady outflow of enviable experiences and life-changing impact from a growing number of successful beneficiaries across Nigeria has greatly lent credence to the feasibility of the lofty goals embedded into the implementation strategies of various branches of NPOWER. No wonder, five million applications for Batch C have been received in a rising trend. For many beneficiaries, the monthly stipend of N30,000 is often least attractive compared to opportunities for life-changing acquisition of professional and entrepreneurial skills. These include the N-Power Volunteer Corps, a paid, two-year programme for young graduates of tertiary education, N-Power Teach programme which helps improve basic education in Nigerian communities, N-Power Health Programme where volunteers provide care with a focus on preventative measures and the most vulnerable, including pregnant women and children and N-Power Agro programme designed to provide services to farmers across the country. Another highly rated component of the intervention programmes under Hajia Sa’adiya Umar Farouk’s ministerial supervision is the Conditional Cash Transfer (CCT) which involves financing safety net transfers to

targeted poor and vulnerable households included in the National Social Register (NSR) through regular and reliable transfers under which over one million households with over six million beneficiaries have been registered in 34 states and 425 local government areas. Available statistics indicate that a total of 748,684 beneficiaries in 24 states received payments as at April/May 2020. Remarkably, over 600,000 beneficiaries were trained on maintaining savings and group mobilization leading to the formation of about 29,000 savings groups and over 10,000 registered cooperative groups having savings of over one million naira! The minister’s oft-repeated pledge to roll out policies and strategies for strengthening, sustaining and scaling up social investment programmes has also been awesomely actualized most recently with the commencement of distribution of 15,750 utensils comprising stainless plates and cutlery sets, 1,000 aprons at LEA Primary School, Jabi, Abuja, completing the 73,060 utensils and 1555 aprons for the acclaimed National Home Grown School Feeding initiative in the North Central Zone. This definitely represents an upgrade of the school feeding programme which started with plastic plates! It achieved sustainability during the COVID lock down when the deployment of take home rations of un-cooked food items brought succour to over 127,000 households of pupils whose school feeding was interrupted by the pandemic in Lagos, FCT and Ogun State. Again, the figures convey the scale and impact of the initiative which is part of the Buhari administration’s policy thrust to lift 100 million Nigerians out of poverty in 10 years, as the minister confidently revealed that nearly 10 million pupils had been fed and over 100,000 farmers and cooks engaged across 54,619 schools nationwide in implementing the school-feeding initiative. The programme aims to improve the enrolment of primary school

children and reduce the drop-out rate due to poverty by addressing the most important basic need of schoolchildren - nutrition needed to engage successfully with their education. In fact the ministry has since gone further in this direction by commencing the process for implementing an Alternate School Programme(ASP), a hybrid education and social protection programme aimed at children who need both in order to gain a benefit from education programmes that many children are not able to access due to socio-economic factors. At the inauguration of a National Steering Committee for the programme recently, Minister Sa’adiya Umar Farouk explained that it was aimed at rapidly reducing the number of out-of-school children by providing them with quality basic education and skills in special settings not addressed in conventional school systems, in line with Sustainable Development Goal (SDG 4) on Qualitative and Inclusive Education for all. The Ministry of Humanitarian Affairs, Disaster Management and Social Development’s unwavering progressive focus on virtually every dimension of the neglected plight of our poverty-stricken population, our teeming army of unemployed graduates, idle and unskilled youth and school drop outs, swarms of begging, homeless and hopeless children of the poor, disabled and other vulnerable citizens coupled with the formulation of intelligent, innovative and impactful policies and diligent implementation of dynamic intervention programmes is truly inspirational. It not only proves that there is ongoing national renaissance powered by forward-looking, committed and patriotic leaders like Sa’adiya Umar Farouk. It empowers multitudes of hitherto hopeless Nigerians to become confident stakeholders in the assured viable capacity of the fatherland to overcome today’s challenges by investing in tomorrow’s capable citizens. So help us God! Goga wrote from Kano

T H I S D AY • MONDAY, MAY 31, 2021

EDITORIAL NIMET AND THE RAGE OF NATURE The authorities should ensure they are prepared for the rains

he seasonal climate prediction by the Nigerian Meteorological Agency (Nimet) for 2021 is a reminder for governments and other stakeholders at all levels to make adequate preparations to avert another disaster that could worsen our woes as a nation. The kennel of the latest prediction announced by the Minister of Aviation, Hadi Sirika, is that some states will experience above normal rainfall pattern, resulting in flash floods. In some parts of the north, the reverse will be the situation as there will be a most severe dry spell. It is noteworthy that floods are among the most frequent and costly natural disasters in terms of human hardship and economic loss, and they have caused untold damage in the last couple of years, especially with prolonged rainfall over several days. We therefore urge the public and the authorities to take advantage of this advisory and begin to prepare so that nobody will be caught unawares. By ignoring early warnings in the past, several NIGERIANS SHOULD BEGIN farms, roads, bridges, TO IMBIBE THE CORRECT and homes have been ATTITUDE TO WASTE submerged with lives DISPOSAL BECAUSE lost. We should do FLOODING IN SOME OF OUR everything to avoid those tragedies. MAJOR CITIES CANNOT BE From desert SOLELY EXPLAINED BY THE encroachment to FACTOR OF NATURE erosions and flooding, Nigeria had in recent years witnessed a steady increase in the number of natural environmental disasters. It is therefore no surprise that in several coastal communities across the country, climate change is creating a situation where too much water comes at an unexpected time, or in unexpected places causing serious problem. With that, densely populated, low-lying cities and towns in our country have also become an environmental nightmare for most of the inhabitants on account of flooding.

Letters to the Editor

Instructively, while Nigeria has many challenges, environment is not often listed as one of them. That only shows our lackadaisical disposition to serious issues. It is time Nigeria became part of the global trend of putting issues of the environment on the front burner while the relevant authorities should be more proactive, especially in the prevention of natural disasters. And when they inevitably occur, governments at all tiers, complemented by private organisations and well-endowed individuals, should come to the aid of the victims as we see in other parts of the world.

B 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 DIRECTOR PATRICK EIMIUHI 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

eyond such intervention both by the government and private sector is the need for Nigerians to begin to imbibe the correct attitude to waste disposal because flooding in some of our major cities cannot be solely explained by the factor of nature. The habit of the people indeed plays a crucial role in what has been happening over the years anytime it rains. Most of the drains are blocked due to the indiscriminate throwing on the roads and drainages disposable cans and pure water nylons, among others. We must not neglect the fact that many of our rivers will overflow their banks and flood plains primarily because of excessive rainfall coupled with the large volume of water received from inlets and other tributaries. This will cause the submergence of many houses leading to the displacement of many people in addition to the loss of lives. Besides, economic activities which are the sources of livelihood of many will be paralysed and bridges which provide intra and intercommunity access for many will be damaged, making it perilous to drive across them. Heavy rains will also wash off many roads while their agricultural yields will be considerably low because many farmlands will be flooded and eroded. The focus should be on prevention and pre-emptive intervention. Nothing is gained when resources that should be put into developmental initiatives are dissipated in dealing with avoidable emergencies and calamities.

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.

RE: TAIWAN’S EXCLUSION FROM WHA UNDERMINES GLOBAL HEALTH

he article written by the U.S ambassador to Nigeria, H.E Mary Berth Leonard with the title, “Taiwan’s Exclusion from WHA undermines Global Health” and published in some newspapers is curious, because the distinguished U.S ambassador certainly knows why “Taiwan remains excluded from international organizations such as the World Health Organization, WHO….” The passionate advocacy of the U.S envoy canvassed in the article with spurious claim that “to prevent Taiwan’s participation in the WHA,” would “leave the world, the World Health Organization, and Nigeria worse off”, does not ring true, especially in the light that over 150 countries, including Nigeria, explicitly support the one China Policy and the fact that the WHO is an international organization of only sovereign countries and Taiwan is not a sovereign country. Since the breakout of the Covid-19 pandemic, United States was among few countries to seriously turn down international cooperation to contain the pandemic and even walked out of the main international institution WHO, whose core mandate includes mobilizing global solidarity in response to the pandemic. The U.S was among the first countries to fly out her citizens out of the former epicenter of the disease, Wuhan and slammed border closure against all others. This early poor, hysterical and politically motivated response to the pandemic made U.S to pay an unnecessarily and obviously unavoidable high price for the rampaging pandemic. Now playing the Taiwan card is an extension of the U.S politically motivated response to the pandemic but this more insidious

and toxic variant, which aims at undermining sovereign and territorial integrity of a key member of the international community is dangerous. Nigeria would certainly not fall for it and this is why. Despite the fact that there is wide room for extending the frontiers of China -Nigeria bilateral cooperation, the relationship between the two countries is currently at its historic best. Nigeria took the firm and responsible position to reaffirm its One China Policy in 2017 when it expressly directed the Taiwan trade office in Abuja, to relocate its office to Nigeria’s commercial hub in Lagos, after it was discovered the trade office was engaging in surreptitious political activities that undermined Nigeria’s one China policy which explicitly recognizes that there is only one China in the world and that Taiwan is an inalienable part of China and that if there is any issue between the central government of the Peoples Republic of China in Beijing and its region of Taiwan, it is the internal affairs of China. Nigeria however, has a trade agreement with Taiwan just as several Nigerian states have subsisting trade agreements with other countries in the world but without an iota of pretense to diplomatic representation. The 24million residents of Taiwan are Chinese and if as a result of history leftovers, there are issues between the central government and the region, that does not mean that both people across the straits are of different nationalities. Nigeria through its well thought out one China policy recognizes that the 1.4 billion on the mainland and the 24 million on the island are of one Chinese nation under the sovereign state of the Peoples Republic of China with its Internationally recognized government in Beijing. However, a clique of extremely ambitious politicians

in the Taiwan region of China seek desperately to undermine the broadly shared sentiments among all Chinese people by canvassing for independent Taiwan. And the article of the U,S. ambassador to Nigeria seeks to lend support to the creation of two Chinas or one China, One Taiwan which offends not only the Chinese people across the straits but also global consensus on the One China principle, which the United States affirmed in the joint Shanghai communique signed on the 27th of February 1972. Nigeria, as General Murtala Mohammed wrote to the U.S President Gerald Ford in 1976 has come of age and can wisely decipher international issues and take a well-informed stand and the One China policy which has subsisted for more than 50 years is a deliberate practice of Nigeria’s foreign policy. If the United States has decided against the trend of contemporary international system, which is essentially cooperation to engage China in a cold war as the body language of Washington indicates and the article of the U.S ambassador to Nigeria suggests, Nigeria should make it known that the country do not intend to become any such theater. To glamourize separatist activities anywhere in the world and even using the Nigeria’s hospitable disposition to advance it, is to demonstrate insensitivity to the country’s current challenges which include separatists’ agitations. Nigeria and China’s pragmatic cooperation for its elaborate practical and tangible outcomes have become part of the crucial fabrics of the respective national life of the two countries and therefore, obviously not available for disruptions. Charles Onunaiju, Abuja

MONDAY MAY 31, 2021 • T H I S D AY

T H I S D AY ˾ MONDAY MAY 31, 2021

Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

Email: nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY

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

What President Buhari’s Last Year Tells Us About His Coming Years

Nseobong Okon-Ekong and Deji Elumoye carry out a critical appraisal of the President Muhammadu Buhari administration in the last one year

Buhari

Osinbajo

Lawan

Gbajabiamila

workers. As at now , a greater number of the populace are yet to get the first jab of the vaccination but there are assurances that more vaccine will be imported to take care of the demands while those who have gotten the first jabs are also waiting in the wings for the second jab. Only about 10 percent pf Nigeria’s population have been vaccinated. At the weekend, President Buhari and Vice President Yemi Osinbajo received the second dose of vaccination. A few states have stated clearly that they cannot continue to bear the cost of vaccination for citizens, therefore the fate of many is hanging in the balance. With this apparent uncertainty in many states of the country, many have criticised the federal and state governments for giving the vaccine free to wealthy Nigerians and politicians who can afford to pay for it, while having no plans for the poor and the vulnerable. The way things are going, the government’s plans to inoculate 40 percent of Nigeria’s 200 million people this year and another 30 percent in 2022 may not be realised. In many parts of the country, life has seemingly returned to normal with little or no observance of COVID-19 protocols. Nigeria is Africa’s most populous and Nigerians have a reputation for travelling widely around the world, marking the country out for close monitoring by global health institutions like the World Health Organisation (WHO).

it was dissolving the unit with immediate effect. The move was widely received as a triumph of the demonstrations. However, it was noted in many quarters that similar announcements had been made in the past years to pacify the public without the unit actually being disbanded, and that the government had merely planned to reassign and review SARS officers to medical centres rather than disband the unit entirely. Protests were thereafter intensified with the Federal Government maintaining a pattern of violent repression including alleged killing of demonstrators. This move resulted in EndSARS protests being intensified at international level in London, Moscow and other cities across the globe. As the protest was hijacked by hoodlums who used the opportunity to steal, destroy and burn public and private property, it resulted into an unfortunate bloody confrontation with security forces The, which allegedly led to loss of lives. SARS personnel were thereafter recalled by the Police High Command to the Force Headquarters in Abuja for proper profiling and redeployment and ever since nothing much has been heard about affected police officers and men. In Lagos, which was the epicentre of the protests, the estimated loss from public buildings alone was put at trillions of Naira. However, the judicial commission of inquiry established in many states have continued to work behind the scene, while unearthing mind boggling atrocities of SARS operatives.

19-day medical trip in March to London, United Kingdom to see his doctors. The President’s overseas medical trip brought to the front burner the need for Nigerian hospitals to be equipped in line with global best practices. It is the believe of medical experts that the high rate of medical tourism by Nigeria’s political leaders was a direct reflection of the policy failure in the country’s health sector. There is therefore the need for the Federal Government to adequately equip the teaching hospitals as well as the federal medical centres so that there would be no need for any public official to embark on medical tourism overseas. Another issue which got tongues wagging during Buhari’s absence from the country was the fact he did not handover the administration to Vice President Yemi Osinbajo. The President’s confidently said he could rule Nigeria from anywhere, but the point that the President exploited was that he did not stay away from the country longer than the constitution permits.

EndSARS Protests The EndSARS protests were a series of mass protests against police brutality in Nigeria with the central protest point at Lekki toll gate in Lagos. Within a few days of renewed protests, on October 11, 2020, the Nigerian Police Force announced that

Buhari’s Medical Trip The COVID-19 pandemic which hit the country in 2020 did not allow the President to travel overseas for his routine medical check up. But as the pandemic lockdown eased in 2021, President Buhari made a

he year 2020 was a year the entire world will not forget very easily. The entire year became identified, to a large extent, with the COVID-19 global pandemic. No country was spares the harrowing experience that took millions of lives around the world and devastated the economies of countries in the world including Nigeria. Although the outbreak of the pandemic was reported by the end of 2019 in China, most countries failed to pay attention to the information with the believe that the pandemic was an Asian medical challenge that will be restricted to that part of the world, not knowing that in a matter of weeks it was going to affect the entire universe. Incidentally, Nigeria was one of the countries that reacted late to the COVID-19 epidemic challenge. It took the first COVID-19 reported case in Lagos in March, 2020 for the Federal Government to actually rise up to the occasion by putting necessary machinery in place to fight the scourge. While the Nigeria Centre for Disease Control (NCDC) has been in charge of Nigeria’s Coronavirus response in the areas of testing, communication, and surveillance, the task of coordinating vaccination rests squarely on the National Primary Health Care Development Agency (NPHCDA). To demonstrate seriousness and commitment to the fight against the disease, the Presidential Task Force on COVID-19 was established by President Muhammadu Buhari on March 9, 2020, to coordinate and oversee Nigeria’s multi-sectoral intergovernmental efforts to contain the spread and mitigate the impact of the COVID-19 pandemic in Nigeria. The Secretary to the Government of the Federation, Mr. Boss Mustapha heads the PTF. Earlier this year, the Federal Government announced that the COVID-19 vaccine will arrive by March, which is exactly one year after the disease was reported in Nigeria.. The Government of Nigeria through the National Primary Health Care Development Agency (NPHCDA) is leading Nigeria’s efforts to access safe, effective and efficacious COVID-19 vaccines. NPHCDA shared a link to a website where citizens were expected to book their vaccination appointments. Despite the outlined phases, it was discovered that there are no restrictions around the vaccination dates available to different population groups or around who is able to register. The registration process also does not provide any means for the government to verify those claiming to be front-line

A few states have stated clearly that they cannot continue to bear the cost of vaccination for citizens, therefore the fate of many is hanging in the balance. With this apparent uncertainty in many states of the country, many have criticised the federal and state governments for giving the vaccine free to wealthy Nigerians and politicians who can afford to pay for it, while having no plans for the poor and the vulnerable. The way things are going, the government’s plans to inoculate 40 percent of Nigeria’s 200 million people this year and another 30 percent in 2022 may not be realised

Review of the 2020 Budget The 2020 Appropriation Act which was assented to by President Buhari in December, 2019 was adversely affected by the COVID-19 pandemic as the global price of oil fell and it affected the revenue being expected from crude oil sales ro the Federal Government. The executive therefore had no choice but to do a review of the already passed budget. In the revised budget, allocations were made to cushion the effect of the pandemic on the citizenry after necessary consultation with the legislative arm of government. In the revised N10.8 trillion budget, N500 billion was earmarked as intervention funds for the fight against COVID-19, while the health sector got N186 billion allocation. The review of the budget was necessitated by the impact of the COVID-19 which adversely affected the oil price and by extension the revenue projections of the government. The passed 2020 revised budget is N300 billion more than the budget plan that was originally submitted by President Buhari. It also increases the projected oil price by $3 per barrel, which is from $25 per barrel to $28 per barrel. Sack of the Service Chiefs and the IGP For the better part of 2020, the rising level of insecurity across the country became a cause of concern to all and sundry with various calls from individuals and groups for the sack of the service chiefs. But de-

T H I S D AY ˾ MONDAY MAY 31, 2021

MONDAY DISCOURSE

Mustapha

spite the mounting security challenges and the calls to sack the service chiefs , the President retained them and never moved against the top military brass until early in 2021, giving room to all kinds of insinuations including thoughts he may have entered a pact with them that ensured that the President was returned for a second tenure in 2019. When they were eventually relieved of their appointments and later appointed as ambassadors of Nigeria to foreign countries those who canvassed the ‘agreement theory ‘ between the President and the service chiefs found a reason to gloat. While the President relieved the Chief of Defence Staff (CDS) and the three service chiefs early in 2021, he allowed Mohammed Adamu to remain as Inspector General of Police. In fact when Adamu’s tenure ended in February, the President extended his tenure by three months to allow for a proper successor but midway into the extension the police boss was removed in March while the President was on medical vacation in the United Kingdom. With the replacement of the service chiefs and IGP, the security architecture of the country is expected to change and the new military helmsmen and IG have pledged to meet the peoples expectation by ensuring that security skirmishes across the country become a thing of the past in shortest possible time. More Loans for the FG The Federal Government has continued to defend its request for foreign loans to keep the economy running. The Minister of Finance, Budget and National Planning, Zainab Ahmed, was always at hand to defend the executive’s move to take loans from World Bank as well as other international finance bodies. Late last year, the executive had presented a $22.7 billion proposal for infrastructure development to the legislative arm for approval In the loan request letter, President Buhari explained that the external borrowing plan targets projects cuts across all sectors with special emphasis on infrastructure, agriculture, health, education, water supply, growth and employment generation. The request was approved in April, 2021 after the consideration of the report of the Senate Committee on Local and Foreign Debts presented by Chairman of the committee, Senator Clifford Ordia, who read the report which recommended that the Senate approve the request. After heated arguments by the Senators, the loan request was approved. The main concern here is the need to ensure that the approved external loans are used for the purpose they are meant. This brings into focus the need for the two chambers of the National Assembly to be alive to their responsibilities especially in the area of oversighting the executive arm in line with the provisions of the 1999 constitution of the Federal Republic of Nigeria (As amended). The APC Caretaker Committee Only the President’s intervention saved the ruling All Progressives Congress (APC) from disintegration when reined in all the contending forces after a court removed Comrade Adams Oshiomhole as the National Chairman of the APC. So far, respect for the President and the

Zainab Ahmed

Irabor

Ita-Giwa

Buhari Milestone

r 5IF 1SFTJEFOUJBM 5BTL 'PSDF PO $07*% was established by President Muhammadu Buhari on March 9, 2020, to coordinate and oversee Nigeria’s multi-sectoral inter-governmental efforts to contain the spread of Coronavirus r "CPVU POF NPOUI BGUFS JUT àSTU SFQPSUFE case in Lagos, President Muhammadu Buhari announces a lockdown of Abuja, Lagos and Ogun on March 30, 2020 in bid to slow the spread of Coronavirus in Africa’s most populous country r 0O .BSDI /JHFSJB SFDFJWFT OFBSMZ GPVS NJMMJPO EPTFT PG UIF $07*% WBDDJOF

solution which he offered in the form of a caretaker/extraordinary convention Committee seems to thinning out as the Governor Mai Mala Buni-led committee has used every ploy to extend its tenure from the initial six months to one year. The APC lost Edo, but retained Ondo state.

TIJQQFE WJB UIF $07"9 'BDJMJUZ B QBSUOFSship between CEPI, Gavi, UNICEF and 8)0 $07"9 TIJQQFE NJMMJPO EPTFT of the AstraZeneca/Oxford vaccine, manufactured by the Serum Institute of India (SII), from Mumbai to Abuja r 1SFTJEFOU .VIBNNBEV #VIBSJ UPHFUIFS with his deputy, Yemi Osinbajo, received first EPTFT PG UIF "TUSB;FOFDB $07*% WBDDJOF on March 6. Both men took the second dose PG UIF 0YGPSE "TUSB;FOFDB $07*% WBDcine at the State House, Abuja last weekend r 0O +VMZ 1SFTJEFOU #VIBSJ TJHOFE UIF Revised 2020 Fiscal Budget into law follow-

Only a few weeks, the party returned its colours to the South-south region of the country with the defection of Governor Ben Ayade of Cross River State from the Peoples Democratic Party (PDP) to the APC.

Despite the mounting security challenges and the calls to sack the service chiefs , the President retained them and never moved against the top military brass until early in 2021, giving room to all kinds of insinuations including thoughts he may have entered a pact with them that ensured that the President was returned for a second tenure in 2019. When they were eventually relieved of their appointments and later appointed as ambassadors of Nigeria to foreign countries those who canvassed the ‘agreement theory ‘ between the President and the service chiefs found a reason to gloat. While the President relieved the Chief of Defence Staff (CDS) and the three service chiefs early in 2021, he allowed Mohammed Adamu to remain as Inspector General of Police. In fact when Adamu’s tenure ended in February, the President extended his tenure by three months to allow for a proper successor but midway into the extension the police boss was removed in March while the President was on medical vacation in the United Kingdom

ing several weeks of deliberations and negotiations with the National Assembly r 0O 0DUPCFS QSPUFTUFST VOEFS UIF CSPBE banner EndSARS mobilise from Lagos against the excesses of a notorious unit of the Nigeria Police known as SARS. The protests quickly spreads to other states of Nigeria. On the third day, the Federal Government agrees to the initial demands to disband SARS and institute a judicial panel of inquiry to hear the ordeal of victims. The protest was later hijacked by hoodlums who looted and destroyed public and private property. This led to a bloody confrontation with security agents on October 20 r /JHFSJB T 1SFTJEFOU .VIBNNBEV #VIBSJ will travel to London for a “routine” medical check-up two days before the country’s doctors go on strike over unpaid salaries. r #VIBSJ MFGU UIF DPVOUSZ UP -POEPO JO late March 2021, two days before Nigerian doctors shutdown public health facilities on an indefinite strike r 5IF CVEHFU BDPOUBJOT B DPNQPOFOU external borrowing plan contained in the 2021 budget which the President refers to when he notifies the National Assembly of his intention to borrow r &BSMZ JO 'FCSVBSZ 1SFTJEFOU .Vhammadu Buhari sacked his army, navy, air force and defence chiefs, a long awaited move r *O MBUF +VOF UIF "MM 1SPHSFTTJWFT Congress appointed a Caretaker/Extraordinary National Convention Planning Committee with the Governor of Yobe State, Mai-Mala Buni as Chairman and Senator Akpan Udoedehe as Secretary

Insecurity Unlimited, Calls for Impeachment, Resignation There is no gain saying that the Buhari administration has lost control of effective security of lives and property of Nigerian citizens. As this report was being written, a prominent politician from Northern Nigeria and member of the APC, Ahmed Gulak was hacked to death in Imo State in the South-east. There were reports that 200 students were kidnapped in Niger State, where Governor had earlier alerted the nation the Boko Haram insurgents were a few kilometres away from Nigeria’s federal capital, Abuja. The remaining students from Greenfield University were freed by abductors after over 40 days and payment of tens of millions of Naira by their parents who said they received no help from government. The Indigenous Peoples pf Biafra (IPOB) ordered a sit-at-home in the South-east states, where a Police CID headquarters was burnt in Abia State. All of these happened in 48 hours. In Akwa Ibom the police has been sacked in Essien Udim local government area. In Rivers State, there is an unending war between security forces and elements of the IPOB. Offices of the Independent National Electoral Commission (INEC) are routinely destroyed around the country. There is no part of the country that is secure and at peace. This worrisome scenario has led to calls for the President’s resignation or impeachment from prominent individuals and organisations including the Northern Elders Forum, who insist that the primary constitutional duty of government is to ensure the live and property of the people. A duty they claim the President has failed.

T H I S D AY ˾ MONDAY MAY 31, 2021

POLITICS

Will Kwara North Get It Right in 2023 Hammed Shittu writes that stakeholders from Kwara North Senatorial District have openly expressed interest in the governorship slot come 2023

AbdulRazaq

Saraki

Mohammed

Gbemi Saraki

state since the return to democracy in 1999. Although, the people of Kwara south senatorial district have also occupied the deputy governorship position of the state for 12 years during different political periods. The Kwara south occupied the deputy governorship position during the administration of late former govenror Muhammed Lawal for four years and another eight years during.the Senator Saraki led administration. However, the prevailing opinion among politicians and other stakeholders from Kwara north senatorial district is that, the zone must be given a chance to lead come 2023 based on fairness, justice and equality. It is on this premise that the stakeholders in the Kwara north senatorial district have been mounting pressures and contacts with the other two senatorial districts on the need to allow the zone to produce the next governor of the state. However, as part of the move and the bid to realise the goal, some politicians and stakeholders from the zone recently converged at Bode Saadu, the headquarters of the senatorial district in Moro local government council area of the state to organise a special prayers to appeal to Almighty Allah to prevail on the other two senatorial districts to them take the slot of the governorship position come 2023. The group called for power shift to the zone in order to allow them produce the next governor of the state based on fairness, justice and equity. The group said that, “enough is enough of playing a second fiddle in the political calculations of the state so as to bring much expected socio- economic benefits to the zone.” Speaker after speaker added that the district had over the years, been marginalized politically, economically and socially. The spokesperson of the group, the Ex Nigerian Ambassador to Japan and a member of Peoples Democratic Party? (PDP) Prof Mohammed Gana Yisa said “the key agenda is that power should shift from Kwara central

to Kwara north come 2023. “This is because Kwara south has had the governorship seat for eight years. As a matter of fact if the current government completes its tenure Kwara central would have occupied the position for 16 years. “So in the spirit of fairness, justice and equity, we Kwara northerners are standing up that it is our turn to produce the next governor. So we are gathered today to pray to God Almighty to help us actualize this our wish in peace and harmony with other senatorial districts in the state.” Former House of Representatives member, Hon Zakari Miohammed in his comment at the event claimed that the area is the least developed in the state. Zakari who was a former chairman, House Committee on Media and Publicity said, “We have vast land and majorly agrarian by nature. It is an understatement to say we are the least developed because we have infrastructural deficit. What we are asking for now is all inclusive governance. “We are saying that we are component part of the state. We should be allowed to produce the next governor. “Since 1999 our.district has had a shot at the governorship seat. We are saying that this is an opportunity and a call for the north to come together so that we can produce the next governor. By the expiration of the current Governor AbdulRahman AbdulRazaq it will be 16 years for the central; the south has had eight years while the north has nil. We also can do it. It is a general call and that exactly what we are saying. “We should allow the spirit of fairness, justice and equity to prevail. This is a step towards realizing it. We do block voting in the north. The history of voting pattern in the state has shown that Kwara north is the game changer. We are co-owners in the Kwara project. We believe that it is long overdue for the long to have its own chance too.

“We will use every legal means to achieve this. We know we cannot do it alone, we need the cooperation of our brothers and sisters from both the Kwara South and Central districts and they are cooperating.They are all here for the prayer session”. Another former member of the House of Reps and ex-transport minister, Hon Bio Ibrahim submitted that the area has been eating the crumbs from the tables of other parts of the state. Hon. Ibrahim who is also a cheiftain of APC said that, “All other senatorial districts have had a fair share of the leadership of the state save for Kwara north. “Since 1999 when we started this political dispensation, the north has been marginalized politically, socially and economically. “Power is not given ala carte. You don’t sleep and expect somebody to wake you up and say take power. We have come to realize that we have been the whipping boys of the state and the earlier we forget political affiliations, tribal and religious differences and come together to seek for what we believe to be fair, justice and equitable. “That is the governorship of the state in 2023.The central so far has had it for 16 years since 1999 from the late Governor Mohammed Lawal till date. “The south had it for eight years. Then in 2019, both APC and PDP out of political convenience decided to field candidates from Kwara central. That incidentally gave birth to the current government in the state. “Kwara belongs to all of us. If you want to live in peace, you must ensure equity, justice and fairness. Anyway there is sign of war, acrimony of disunity is when equity and justice is compromised. We pray that God will niot allow Kwara and leaders of the state to abandon equity and justice. “For example both vulture and eagle are birds that are well known to us. They are common but very distinct. The eagle flies very high and sees very clearly. It sees its pry from up, ditto for the vulture. It flies very high and also sees the carcass of dead animals from afar. God has given it the patience to wait for the animal when it is dying. “In Kwara we have been made the vulture that only waits for carcass to feed on. The other parts of the state are the eagle. They fly high, see their prey and go in for their prey and eat it fresh. This time around we want to fly like eagle and kill the prey as well.” But, two emirs from the Kwara north senatorial district of the state have said that, the people of the zone would support the return bid of governor AbdulRahman AbdulRazaq come 2023 if he declares to seek reelection for second term bid in office. The affected emirs are, emir of Yashikira, Alhaji Umar Sariki Usman and emir of Okuta, Alhaji Abubakar Idris Serobetete II. The duo spoke at their different palaces while receiving govenror AbdulRazaq and his entourage during the 10th year anniversary of the Emir of Yashikira.

he race toAhmadu Bello Government House, the seat of power in the State of Harmony called Kwara come 2023 has commenced in earnest. Various pressure groups from the three senatorial districts of the state have begun underground consultations and meetings to educate and enlighten the members of the public on which zone the power must shift to. The people of like minds with different political backgrounds have set an agenda on how they will work together in order to achieve their goals, knowing fully that two of the three senatorial districts of the state have occupied the governorship position of the state at one time or the other more, creating a longing and agitation for the remaining senatorial district to have a short at the prime office. It will be noted here that, though the incumbent occupant of the House, Governor AbdulRahman AbdulRazaq who is from the Kwara Central Senatorial District has not come out publicly to say he will contest again come 2023 but the past events in the state cum the activities of his foot soldiers political across the three senatorial districts of the state suggest that he will definitely seek a second term in office. Apart from this, his recent perceived hijacking of the ruling All Progressives Congress (APC) from the major groups in the party was a move to show that, the Ilorin born politician may take another shot at Ahmadu Bello Government House in the 2023 polls. Also, the supporters of the governor under the aegis of AbdulRahman AbdulRazaq Support Group have been campaigning for the governor across the three senatorial districts of the state and making use of his achievements in office under the current mid term assesment to canvass for his re election bid come 2023. However, the major political contention around the state ahead of the 2023 polls is the issue of the power shift as it has remained a major issue within the political circle. Prior to the 2019 general election, the people of the Kwara central senatorial district comprising Ilorin east, Ilorin west, Asa, Ilorin south and Moro local government councils of the state have occupied the plum governorship position of the state for 12 years under various political parties. The former govenror , Late Muhammed Alabi Lawal held the position for four years on the platform of All Nigerian Peopes Party between 1999-2003 while the scion of the Saraki dynasty and former governor of the state, Senator Bukola Saraki occupied the office for eight years of two terms between 2003 and 2011. It will be noted further that the current occupant of the position, Governor AbdulRahman AbdulRazaq hails from Kwara central senatorial district and he is on his first term of four years in office which he started from 2019 till date. In the Kwara south senatorial, former governor Abdulfatah Ahmed ruled the state for another eight years and by that, the other zone which is Kwara north senatorial district of the state has been playing a second fiddle in the affairs of the state. The Kwara north senatorial district of the state has occupied the deputy governorship position of the state for eight years and the zone is yet to rule the

As part of the move and the bid to realise the goal, some politicians and stakeholders from the zone recently converged at Bode Saadu, the headquarters of the senatorial district in Moro local government council area of the state to organise a special prayers to appeal to Almighty Allah to prevail on the other two senatorial districts to them take the slot of the governorship position come 2023. The group called for power shift to the zone in order to allow them produce the next governor of the state based on fairness, justice and equity. The group said that, “enough is enough of playing a second fiddle in the political calculations of the state so as to bring much expected socio- economic benefits to the zone

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FEATURES

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

Commemorating the National Day of Mourning In a bid to condemn the level of impunity and frequency of violent killings across the country in recent times, Nigerians on May 28 marked the ‘National Day of Mourning. To commemorate it, protests were held in different parts of the country to condemn the anomaly. Sunday Ehigiator and Oluwabunmi Fache, who monitored the development via the hashtags #NigeriaBleeds and #EnoughIsEnough on Twitter, report that from the North to South, the escalating insecurity has soared to a worrisome peak

Names of people that have been killed in several violent attacks in Southern Kaduna and Benue Communities engraved into Nigerian Map

n recent times, the spate of insecurity has reached a worrisome peak. In fact, about 4,556 killings were recorded in 2020, a significant increase beyond the 2019 figure which was 3188. This year, the figures have soared in the first quarter of the year. More worrisome is the fact that no part of the country is safe- from the North to South. While the North battles with banditry, terrorism, communal attacks, and kidnapping, other vices like cultism, herdsmen attack, pillaging of farmlands, destruction of government parastatals, piracy at sea, militancy and extrajudicial killings reign supreme in the South. National Day of Mourning Perplexed at the spate of insecurity and the seeming helplessness of security agencies, Nigerians have taken to mourn the dead. To do this, a National Day of Mourning was instituted. Aside the mourning, protests are held simultaneously across the country. This year, Benue State and Southern Kaduna, are believed to have been the worst hit in the spate of insecurity in the country, hence the hashtag, #BenueUnderAttack and #SouthernKaduna was also trended on twitter. Action Plans/Demands Although the protests held across the nation, their demands were unified. They had five action plans, which are “demand action from state representatives; share stories of victims across all social media platforms; hold solemn assemblies in clusters of 49 wearing black; call of names of victims in front of state houses of Assembly and the National Assembly;

Five action plans executed on National Day of Mourning

and hold symbolic religious actions now more dangerous than living in Afghanistan.” on May 28 and 30, 2021.” Also speaking popular instagram comedian, Debo Adebayo, a.k.a Mr. Protests This year, to commemorate the sad Macaroni, via his twitter handle @ occasion, Nigerians played their part. mrmacaroni, said, “36 residents of In fact, it was indeed a national day Shikaan Mbagena Kpav in Benue of mourning as Nigerians in different State murdered in cold blood but parts of the country, dressed in black Lai Mohammed said Nigerians are in shirt on black jeans, and armed with safe hands!h The Nigerian government different solidarity inscriptions and isn’t tired of having the blood of placards, marched in cluster of 49 innocent Nigerians on their hands. persons per group, in honour and We have evil and heartless people remembrance of every Nigerians who in power!” Also speaking in a video shared had lost their lives or properties to the worsening insecurity situation on her twitter handle @AishaYesufu, popular Human Right activist, Aisha in the country. The protest, unlike past protest, had Yesufu said, “There is massacre and no specific person or group name as genocide going on in Benue state. mobiliser, but enjoyed the contribu- Lives are being wiped out. It seems tions of the majority of Nigerians as if there is a conspiracy to wipe out on Twitter, including celebrities and the natives that are living in many areas of Benue State, but we cannot popular Human Right activists. afford to look away. We cannot afford to keep seeing these killings going Twitter Reactions For those who lent their voices on and we keep looking away. “Are we waiting until it gets to virtually on different social media platforms, their stance was no less our turn? Are we waiting until it important. Lending his voice, Nigerian gets to our village? Are we waiting Human Right Activist and Lawyer, until they begin to wipe away our Reno Omokri, with his Twitter handle, children, siblings, relatives, and @renoomokri alleged that, “except kinsmen? “What is the federal government Benue gets their own Sunday Igboho, these almost daily attacks that have doing about what is going on in Benue characterised #BenueUnderAttack will state, what is the Commander-in-Chief continue to happen. If Benue people doing about what is going on in clash with cows, General @MBuhari Benue state? What are the people will always side with cows. Benue of Nigeria doing about what is going needs an Igboho that will side with on in Benue state? “What is it? We are tired of the them.” In another tweet, he said, “the way killings, we are tired of the death, things stand now; soldiers can shoot we are tired of the burials and the and kill any man in Southeastern Ni- fact that human lives do not seem geria, and claim he was an Unknown to mean anything in this country. “Benue people have been crying. Gunman. There are no investigations carried out on the veracity of these They are being killed in their sleep, claims. Living in the South-east is killed awake, slaughtered, and enough

is enough. Why is Benue state under attack? Who is there to take over Benue? “A lot of people have been calling us and have been complaining that their lands are being taken away, they are driven away from their villages, they are slaughtered like animals, their properties are destroyed, and new people are coming to take over their lands. “Is it a crime to be a Nigerian, is it a crime to be from Benue state, why is it that lives seem not to matter to the government of the Federal Republic of Nigeria. “The primary responsibility of any government is the protection of life and properties of the citizens, and any government that cannot protect the lives and properties of the citizens is not fit to be called a government. “We are tired of constantly waking up to one bad news or the other. The lives of Benue people must be protected. No Nigerian is more Nigerian than any Nigerian,” she said. Also speaking, a Nigerian, Vince Onyekwelu with the twitter handle @ VinceLink said, “Most ethnic groups of Nigeria need new social champions; Berom need a Sunday Igbohoo. Jukun needs a Sunday Igbohoo. Idoma needs a Sunday Igbohoo. Igala needs a Sunday Igbohoo. Tiv needs a Sunday Igbohoo, same with Niger State, Southern Kaduna, and many more.” Another twitter user with the user name, @Tonitornado_4, said, “I was at the Benue teaching hospital two days back to donate blood for a patient. I saw kids with stitches from head to toe. I cried for the little ones.” Another twitter user with the handle @Kwaffy said, “Fulani Herdsmen Attack on the good people have brazen

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FEATURES

Protesters at the Day of Mourning

National Day of Mourning (NDOM) protest held in Benue State

Toni Tornado (a good Samaritan) donating blood to victims of Benue violent attack

and unprovoked with villages and communities attacked and razed at night leading which can be described as a genocide and you can agree with me we're certainly targeted.” Another twitter user with the handle @jrnaib2 holds the position that “President Buhari must be impeached! Fulani herders are killing people on a daily basis in the name of famers Vs herders clash, but the authorities remain mute. Buhari's nepotism will only set Nigeria ablaze and it will end in tears.” @UwoyeO said, “It can get worse if proper measures are not put in place to contain it, God have mercy on us. Your children must have wronged you, please show mercy on us, we need you now more than ever.” @WendyPrincea said, “Nigeria under Buhari is now a failed state and the worst of it, the mannequin in Aso Rock does not care. Under this government, human life is worthless. Put Benue in your prayers. @capable05 said, “At what point are we going to rise as a nation to fight these terrorist herdsmen. It’s time for community policing, secure your communities.” @JajaPhD said, “The pictures are so gory. It is sad that these vulnerable people were killed in their homeland by invaders. But to see how they were butchered like cattle evokes a deeper emotion. No one should die like this. “Nigeria has a lot of injustice to atone for but on a daily basis, there is even more injustice meted out to those whose only crime is being a combination of poor, innocent and vulnerable. “Everywhere you turn, you see bloodshed. What is the value of a Nigerian life? What is the value of a Nigerian life in Nigeria? How is it business as usual for the Nigerian government while they fail in their duty to secure lives and properties? “ @KatorTarkaa said, “There is ethnic cleansing going on in Benue State, but we are deafeningly silent. Hundreds are being killed, and thousands are

Boy allegedly injured by armed herdsmen in Benue State

compelled to flee their homes! Benue is under attack! “As the killings keep rising and nothing substantial is being done, we all in Benue State and the entire Middle Belt may end up losing our lives, our identity and our land if we fail to rise up now! This is genocide and must be referred to as such!” @ FS_Yusuf, said, “Ortom needs to know that terrorists have opened a war on his people and he has to prepare his people to fight and protect themselves.” @ebelee said, “Nigeria is burning more and more everyday and our government is just going to keep acting without urgency like all is well. How many more people do these herdsmen need to kill before action is taken, hundreds of people in just one night? I’m sick.” @SirWilliam said, “Tired of saying #BenueUnderAttack, it’s exhausting. Killings have been going on for years by one group of people and nobody has been arrested, nobody has been prosecuted. “The solution right now is State Police and arming the citizens, nothing else. Nigeria will not save us if we keep crying about Herdsmen killings. We have active terrorists in power who share the same ideology with the Fulani militia killing people in Benue. Its state police, armed vigilantes or otherwise unknown Gunmen will retaliate.” @Yateghtegh said, “I’m even scared of traveling within some towns in Benue for the safety of my life and others. The governor is trying but for how long shall we live in fear. Today Naka, tomorrow Agatu, next tomorrow Guma and the score continues.” @Oyimzy said, “Don’t say it is happening in Benue and it doesn’t concern you, when they are done with Benue they will have free access to the south. Lend your voice now!” @Uncle_ajala said, “I just saw gory pictures of about 36 persons that were killed yesterday in Benue state. I don’t think our lives and security means anything to President Buhari,

Some residents of Benue Communities ﬂeeing their homes

because how can over 36 people die in Nigeria and the President isn’t addressing the nation?” @lucky_owoicho said, “Benue is the food basket Nigeria and the majority affected by this herdsmen attack are the farmers. So imagine a large number of them being displaced and no means of farming. This affects everyone.” @)07iCharles said, “He failed to become the president of Nigeria after four attempts. Now he has finally become the president with little or nothing to show for it except being shocked and sympathising over every ugly situation. We deserve someone younger come 2023! Enough is enough!!” Protest in Lagos In Lagos State, a coalition of 19 civil society organisations led a march to the state’s House of Assembly, Alausa – Ikeja, where they asked the Speaker of House, Rt. Honourable Mudashiru Obasa, to convene an emergency session of the Assembly on the state of insecurity in Nigeria and particularly in Lagos. The groups also seized the moment to convey the feelings and frustrations of Nigerians on the security situation of the country to President Muhammadu Buhari being the chief security officer of the nation, with a view to coming up with a holistic solution to the problem. Convened by Corporate Accountability and Public Participation Africa (CAPPA) in conjunction with 18 other groups, the march culminated in the delivery of a petition which was received by representatives of the House led by Deputy Speaker, Sanni Eshinloku after an initial refusal to allow the protesters into the pavilion built for the purpose of meeting with the public. In a statement from the Coalition, the Executive Director of CAPPA, Akinbode Oluwafemi, he said the decision of the groups to mark the day of mourning was to “draw the attention of the lawmakers to the

situation and urge them to address the situation urgently". Also contained in the statement, the Vice President of the Joint Action Front (JAF), Achike Chude cautioned that the nation’s drift into anarchy will ultimately consume all-alike and wondered why those at the helm of affairs at state and federal levels “continue to handle the matter with levity and act in nonchalance". The Petition The group also submitted a petition titled ‘Urgent Need to Address Grave Insecurity Situation as Nigerians Mourn’ to the assembly, where they noted that, Nigeria's struggle with inordinate and escalating insecurity rooted in mass atrocities continued unabated with the figures in 2020 reaching about 4,556 killings, a significant increase beyond the 2019 figure which was 3188. The petition read: “The pattern of mass atrocities across the country continues to bear regional nuances, but the lines are increasingly getting blurred. “Insurgency, pillages, and communal attacks characterize the major forms of atrocities in the North, while rival gang attacks, killings from mob actions, extrajudicial killings, politically motivated killings, and mob lynching, so-called unknown gunmen attacks and herdsmen attacks have become the order of the day in the south.” They therefore asked the lawmakers to commence citizens’ engagement including town hall meetings on specific security challenges in their respective constituencies with a view to arriving at workable and inclusive solutions. Some of the groups that signed the petition and engaged in the march are Centre for Children's Health Education, Orientation and Protection (CEE-Hope), Center for Dignity, Centre for Human and Socio-Economic Rights (CHSR), Education Rights Campaign, BudgIT, Global Rights, Nigeria Labour Congress (NLC) and Spaces 4 Change, among others.

MONDAY MAY 31, 2021 • T H I S D AY

T H I S D AY ˾ ͱͯ˜ 2021

BUSINESSWORLD

Group Business Editor Obinna Chima

Email obinna.chima@thisdaylive.com 08152447875

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Quick Takes FirstBank, Linda Ikeji TV Unveil Docuseries

.FAREWELLDOYEN

L-R:GroupManagingDirector,FutureviewGroup,Mrs.ElizabethEbi;President,CharteredInstituteofStockbrokers(CIS),Mr.OlatundeAmolegbe,sonoflaterenownedstockbroker,Mr TosinOdejimi;daughter,Mrs.KemiOparaand FirstVicePresident,CIS,Mr.OluwoleAdeosunduringspecialsessionorganisedbyCIS’CouncilforlateOluOdejimi, inLagos…recently

Insurance Stocks Defy Bearish Trading at Stock Market Goddy Egene Investors in Regency Assurance Plc, Consolidated Hallmark Insurance Plc and Royal Exchange Plc experienced growth in their investments last week despite the domination of trading by the bears at the stock market. Although the Nigerian Exchange Limited’s (NGX) All-Share Index (ASI) declined for the second consecutive week due to bearish trading, the three stocks fetched their holders significant gains. For instance, Regency Assurance Plc led with 44.1 per cent, trailed by CHI Plc with 43.1 per cent. Also, Royal Exchange Plc appreciated by 30.6 per cent. In all, 32 stocks appreciated, while 30 stocks depreciated. At the close trading last week, the

CAPITAL MARKET NGX ASI fell 0.18 per cent to close lower at 38,256.95, while market capitalisation ended at N19.94 trillion. Also, the volume and value of trading declined as investors exchanged 1.037 billion shares worth N9.471 billion in 17,577 deals, compared with 1.048 billion shares valued at N11.543 billion that exchanged hands in 17,233 deals the previous week. However, the Financial Services Industry remained the most active with 687.623 million shares valued at N5.659 billion traded in 9,506deals; thus contributing 66.2 per cent and 59.7 per cent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 106.138million shares worth N545.020million in 1,146 deals, while the third place was ICT Industry occupied the third position with 84.310 million shares worth N350.698 million in 604 deals. Trading in the top three equities namely Zenith Bank Plc, Guaranty Trust Bank Plc and Fidelity Bank Plc accounted for 229.453million shares worth N4.281 billion in 3,634deals. The market has been recording lower patronage recently as foreign investors continue to stay away. This development led to the total value of foreign investors hitting a four-low last month. “We highlight that the total value of foreign involvement in April is the lowest in four years

(April 2017: N22.45 billion), which we believe was induced by rising bond yields in the advanced economies amidst lingering foreign exchange illiquidity in the country. “Meanwhile, the weak domestic participation was driven by a 66.4 per cent month on month (m/m) decline in retail investor’s participation which masked the 20.3 per cent m/m increase in institutional investors’ participation,” analysts at Cordros Securities said. The analysts said they maintained their expectation of weak domestic and foreign investors’ participation on the local bourse in the near term due to sustained rise in yields in the fixed income space and lingering liquidity constraints Continued on page 26

Stakeholders Push for 30% Growth in Cloud Hosting By 2024 Emma Okonji Worried about the low volume of local cloud hosting among the 11 local data centres in the country, industry stakeholders have suggested new measures through which Nigeria could achieve 30 per cent growth in local cloud hosting by 2024. The stakeholders who spoke at the recent cloud technology forum, organised in Lagos by the Nigerian Information Technology Reporters’ Association (NITRA), expressed concern that the economy may continue to loose huge revenue, when organisations and government agencies bypass local cloud data hosting companies, to host their data abroad, despite the fact that such data was generated locally in Nigeria. The President, Institute of Software Practitioners of Nigeria,

ECONOMY Mr. Chinenye Mba-Uzoukwu, who expressed concern over the low patronage of local data hosting companies in Nigeria, said: “Nigeria has 11 data centres that are currently expanding into cloud hosting, yet they are underutilised because of poor patronage.” In his keynote address, the Director-General, National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi, said although the indices for data hosting patronage remained low, Nigeria could still up the game and achieve 30 per cent growth in local cloud hosting by 2024, should the right measures be put in place. Listing measures on how to achieve 30 per cent growth in local cloud hosting by 2024, Abdullahi

said cloud hosting would provide the opportunities for 100 per cent resource utilisation if resources were evenly distributed over several server and cost control and pricing addressed. According to him, “The big data analytics market is set to reach $103 billion by 2023. In 2019, the big data market grew by 20 per cent. In 2020, every persongenerated 1.7 megabytes in just a second and internet users generate about 2.5 quintillion bytes of data each day. NITDA has initiated several policies and programs to ensuring data sovereignty and integrity. “We introduced the Nigeria Data Protection Regulation in 2019. The successes of the regulations are there for all to see. Also, we developed the Nigeria Cloud Computing Policy (NCCP) to promote “Cloud First” as a

proposition to Federal Public Institutions (FPIs) and SMEs as an efficient way of acquiring and deploying computing resources for better and improved quality of digital services.” On his part, the Chairman of the forum, who doubles as the Chief Executive Officer, Internet eXchange Point of Nigeria (IXPN), Mr. Muhammed Rudman, said: “Local hosting is critical for any country that wishes to develop its internet infrastructure and empower its citizens as well as ensure national data sovereignty. “Nigerian government realisation of the cloud localisation brought about the National Cloud Computing Policy by NITDA in 2019, which is aimed at promoting the migration of National Data to local cloud with a goal of

Linda IkejiTV(LITV), a production and broadcasting company in Nigeria is partneringwithFirstBankNigeriaLimitedfortheproductionandbroadcast of the second season of ‘First-class Material.’ A statement from the bank explained that following the successful production and broadcast of the first season of the docuseries, the second season is billed to debut on all LITV and FirstBank digital and social media platforms from July 1, 2021. ItstatedthatFirstClassMaterialisadocumentaryserieswhichshowcases theaccomplishmentsofNigeriansindifferentfieldsofendeavourinspiring the next generation of creators and innovators. “All over the world, Nigerians are accomplishing great feats in different sectorsoftheeconomy,butnotmuchinformationaboutthesephenomenal attainments are in the public domain. “This innovative partnership will spotlight exploits of Nigerians in the arts, science, technology, engineering, mathematics, medicine, politics, academia, etc, and serve as a beacon of inspiration to young people on career pathways,” it added. Speaking on the TV show, Group Head, Marketing & Corporate Communications, First Bank of Nigeria Limited, Folake Ani-Mumuney said: “Spotlighting First Class Material is in line with FirstBank’s commitment to enable and empower Nigerians to contribute to societal development and create positive impact..

Leadway Pensure Organises Health Webinar

LeadwayPensurePFAhasdemonstratedthatthewelfareofitscustomers is of utmost priority, with the just-concluded health and wellness seminar for retirees. The seminar which was held virtual, was tagged: ‘Maintaining Good Health at Retirement,’ and anchored by a medical practitioner at Leadway Health, Dr. Olumuyiwa Odugbesan. He educated the retirees on the beneﬁt of having a meal plan, exercising, mental wellness, and maintaining mental balance. He also spoke on the need for managing and preventing sicknesses associated with advanced age. Odugbesan highlighted the need for mild exercises and simple medical practices that the retirees could practice at home to enhance their health. In her remarks, the Managing Director, Leadway Pensure PFA, Mrs. Ronke Adedeji said customers are Leadway Pensure PFA’s most prized stakeholders, adding that they would continue to push out initiatives that reassure them of this value. This sentiment was emphasised by Tade Gbadebo, Head of Beneﬁts Processingattheorganisationwhomentionedthat,“theLeadwayPensure Brand goes beyond paying pensions to retirees; we are committed to making retirement and living better for them.” “It is important to recall that the organisation recently received an award for customer care excellence and this seems to be an opportunity to reiterate the achievement,” she added.

AUDA-NEPAD Partners Ecobank

The African Union Development Agency NEPAD (AUDA-NEPAD) and the Ecobank Group, its strategic partner on the development of the 100,000 Micro,SmallandMediumEnterprises(MSMEs)Initiativerecentlylaunched the ﬁnancing component. TheAUDA-NEPADlaunchedthe100,000MSMEsProgrammetoaccelerate African economic transformation, provide the needed skills, and build resilience against the economic shock triggered by the global pandemic. The ‘100 000 MSMEs’ initiative seeks to build the capacity of 1,000,000 enterprises in Africa through entrepreneurial and business training to improve access to ﬁnance and new markets while establishing networks for support and incubation to bolster their success. “Across the globe, MSMEs are the biggest and the best engine of innovation, social transformation and economic development and growth. AUDA-NEPAD is deeply convinced that Africa structural transformation will be driven by youth and women led businesses and innovations,” AUDANEPAD, Director of Programme Delivery & Coordination Directorate, Amine Idriss Adoum said. AUDA-NEPAD and the Ecobank Group announced their collaboration in May 2020 and agreed to tackle three main pillars in supporting MSMEs in coming out of the devastating economic impact of COVID-19: namely, MSME Academy, MSME Finance and MSME Marketplace.

Since the inception of this administration, we have done a few other direct social investment-type things aimed at human capital development.After the National HealthAct was passed in 2014, the federal government in 2018 began including the one per cent minimum portion of the Consolidated Revenue Fund” Vice President

Continued on page 26

Yemi Osinbajo

T H I S D AY ˾ ͱͯ˜ ͰͮͰͯ

BUSINESSWORLD INSURANCE STOCKS DEFY BEARISH TRADING AT STOCK MARKET in the foreign exchange (FX) market. Looking at this week, they said they still expect a choppy theme with the bears dominating proceedings in the absence of positive triggers to spur a bullish performance. “Notwithstanding, we advise investors to take positions in only fundamentally justified stocks as the fragility of the macroeconomic environment remains a significant headwind for corporate earnings,” they said. The Central Bank of Nigeria’s Monetary Policy Committee resolved to retain the Monetary Policy Rate (MPR) otherwise known as interest rate at 11.5 per cent. STAKEHOLDERS PUSH FOR 30% GROWTH IN CLOUD HOSTING BY 2024

achieving 30 per cent by the end of 2024.” He said local hosting in Nigeria would reduce the huge capital flight, which would lead to higher quality of service as local hosting enables websites run about three times faster than those hosting overseas because of ultralow latency. Also, MD/CEO, Cloudflex, Mr. Aderemi Adejumoh, said a 30 per cent increase in local hosting would increase Nigeria’s the revenue by between $30 million to $150 million (N15 billion – N75 billion). “Development and advancement in technology and Cloud computing will accelerate Nigerians reginal relevance and more importantly the leadership of Nigeria in the region and Africa at large,” Adejumoh said. The Chairman of NITRA, Mr. Chike Onwuegbuchi, said the forum was designed for stakeholders in the Information and Communications Technology (ICT) sector, to discuss issues that would bring growth and development to the sector. “Cloud computing has been described as the greatest game changer since the creation of the internet and is one of the fastest growing areas of technology today.

Group Business Editor

Obinna Chima

Capital Market Editor

Goddy Egene

Comms/e-Business Editor

Emma Okonji Asst. Editor, Money Market Nume Ekeghe

NEWS

DMO to Focus on Funding Revenue-generating Projects Goddy Egene The Director General of the Debt Management Office (DMO), Ms. Patience Oniha, has said the agency is looking at supporting projects that are revenue generating to service funds raised via Sukuk. The federal government has raised about N362.6 billion through Sukuk issuances which is a Sharia- compliant bond. The proceeds have been used for road projects across the country. Oniha said the Sukuk initiative by DMO Nigeria had been increasingly successful given the strong level of awareness that has been created. “This success can also be attributed to the increased confidence from market participants given that the Sukuk bonds are tied to specific projects that can be tracked. Looking ahead, we recognise the need to upscale issuances to include other standalone projects beyond road infrastructure, but more importantly, we are looking to support projects that are revenue generating to service the Sukuk. “Furthermore, there must be a focus on growing and diversifying the investor base for the Sukuk as well as other investment products,” she stated. The road show with the theme: ‘Systemic restart: Islamic Finance in Nigeria,’ orgasnied by Nigerian Exchange (NGX) Limited in collaboration with REDMoney Group. In his address, the Chief Executive Officer, NGX, Mr. Temi Popoola, who was the keynote

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)

two Islamic banks, four takaful insurance companies and several microfinance banks and managed funds. “Following the issuance of the first Sukuk in Sub-Saharan African - the Osun State N11.4 billion 7-year Ijarah Sukuk in 2013, the increasing demand for ethical investments in Nigeria has further led to three successful Sukuk issuances totalling N362.6 billion by the Debt Management

Office on behalf of the federal government of Nigeria from 2018 till date; all of which were largely oversubscribed and have been listed on NGX,” he said. Popoola expressed NGX’s commitment to building this asset class, saying, the exchange would continue to provide an efficient and liquid market for investors and businesses in Africa, to save and access Shariah-compliant capital and investments.

“Our collaboration with RedMoney in convening the annual IFN Nigeria forum attests to our belief in the potential and importance of Islamic finance in catalysing inclusive economic recovery and a more sustainable global economic growth. “We will collaborate with all market stakeholders to contribute towards the growth of Islamic finance in Nigeria and Africa at large,” he said.

ACCOUNTINGTO SHAREHOLDERS

L-R :Managing Director, Berger Paints Nigeria Plc, Mr. Anjan Sircar; Chairman, Mr. Abi Ayida; Company Secretary and Legal Adviser, Mr. Ayokunle Ayoko; Non Executive Director, Mr. Adekunle Olowokande and Non Executive Director, Chief Musa Danjuma at the 61st Annual General Meeting, Berger Paints in Lagos…recently

AfCFTA: Experts Urge FG to Align with Regional IP Organisations Oluchi Chibuzor Experts in the country have stressed the need for the country to become signatories to African Regional Intellectual Property Organisation (ARIPO) in view of the Africa Continental Free Trade Agreement (AfCFTA). According to them, this would complement efforts of the federal government to lay the foundation for the creative industry in the country to benefit from the

continental pact. They stated this at the 2021 Legal Business Conference held in Lagos, with the theme, ‘Entertainment Law and Business: Issues and Opportunities.’ In her remarks, the founder and convener, Legal Business Network, Ms. Ifeoma Ben, said the nation must improve its infrastructure capabilities to enable stakeholders in the creative industry maximise the country’s signatory to the continental pact.

“We cannot have this conversation without talking about contemporary issues, so AfCFTA is one of the areas that we really need to look at because it will open up our borders, enlarge the market because we are now going to have a liberalisation of markets and so we really need to discuss it. “There are a lot of opportunities under AfCFTA and you may not be able to tap these opportunities unless you understand what the

opportunities are and how you can really go about it. “Apart from creating awareness, the government will also have to look at areas that would help in the implementation of the agreement,” she stressed. On his part, ex-President, Association of Movie Producers, Zik Okafor, said Nigeria must address IP concerns to leverage the liberation of the continental creative market, “with a combine Gross Domestic Product of $2.6 trillion,

now we have the opportunity to extend the frontiers because what we have in Nigerian is just 200 million screens.” In her contribution, a member of the Presidential National Action Committee on Nigeria’s readiness on the implementation of AfCFTA, Mrs. Foluke Akinmola, stressed the need for more awareness creation on AfCFTA, but also encouraged Nigerians to be proactive in conversation surrounding the trade treaty.

Patronise Only CBN-licenced BDCs, Says ABCON The Association of Bureaux De Change Operators of Nigeria (ABCON) has advised foreign exchange users and the general public to patronise only Central Bank of Nigeria’s (CBN)-licenced bureaux de change (BDCs) to get dollars the approved rate. In a statement issued at the weekend, ABCON President, Alhaji Aminu Gwadabe, said only CBN-licenced BDCs operate with regulatory guidelines of sallying dollars at approved rate. Gwadabe advised members of the public to always patronise

CBN license BDCs which are regulatory-complaint and operate within international best practices. He said parallel market activities have for years become major drivers of the exchange rates and control over such transactions have become burdensome. He said forex speculators were capitalising on the state of the foreign exchange market and the naira to sell dollars above CBN approved approved margin. Gwadabe said CBN-licenced BDCs are not selling dollars to end users above the N2 per dollar

margin set by the financial sector regulator in order to protect the naira against foreign exchange speculators and ensure exchange rate stability. The ABCON Executive Council therefore denied report , claiming that the CBN-licenced BDCs bought dollars at N393 to dollar and sold at N494 to dollar, representing N101 margin. The ABCON Executive Council, said it has brought the inaccurate report to the attention of the Nigerian Press Council, urging it to call those responsible for the

misleading report to order. The ABCON said it was constrained to bring to the attention of the Nigerian Press Council to advise those misleading members of the public to, “diligently observe in whatever they publish the professional ethic of accuracy, truthfulness and the right of every individual and organisation to fair hearing.” One of the national dailies had in a report published on Saturday, 29th May, 2021, titled “Naira Devaluation: BDCs Get dollars at N393, Sells for

N494,” attributed a report to an anonymous commercial source. ABCON described the report as, “factually inaccurate assertions as neither do commercial banks fund BDCs nor do BDCs collect dollars from the banks”. The ABCON Executive Council said that while its members comply rigorously with the CBN’s regulatory requirement of a predetermined weekly transaction margin, it has failed to see what informed the newspaper’s spurious claim of an imaginary selling margin.

UNDP Trains 88 Women, Victims of Southern Kaduna Violence in Skills Acquisition Seriki Adinoyi in Jos

Senior Correspondent

Raheem Akingbolu (Advertising)

speaker, said according to the Islamic Finance Development Report 2020, the Islamic finance industry’s assets grew by 14 per cent in 2019 to $2.88 trillion, returning to its long-term pattern of strong growth after the slowdown in 2018. “In Nigeria, the Islamic finance sector continues to grow with increased interests from market participants and a growing number of players including

The United Nations Development Programme (UNDP) has engaged 88 out of 100 women and youths who were victims of Kaduna crisis to undertake a two week re-orientation course as a prelude to undergoing a six-month skill acquisition programme at the National Directorate of Employment

(NDE) in trades of choice. The re-orientation course which held in Jos, Plateau State, was organised by UNDP with the funding assistance from the Norwegian government ahead of the main training at the NDE, Kaduna. Speaking at the closing ceremony of the re-orientation course, UNDP deputy resident representative, Mr. Lealem Dinku

said the women and youths would be positively impacted, and would be made self-reliant at the completion of the six-month skill acquisition training at the NDE. Dinku assured that all arrangements for the successful training including accommodation, training materials and monthly stipend for the period have been made. He said, “UNDP and its

partner, the Norwegian government, will assist all of you with starter packs to establish small businesses after your graduation. I wish to advise that the starter pack is not automatic but conditioned on your performance and behavior during the period of the training. Dinku said, “This includes attendance in class, participation in training practical, level of

discipline and interaction with other trainees, and at least 80 percent grades in the NDE’s final assessment. “The monthly allowance is contingent upon punctuality in classes and regular completion of assignments. Therefore your commitment and dedication to the training is highly encouraged to maximally benefit from the programme.”

T H I S D AY ˾ ͱͯ˜ ͰͮͰͯ

CBN Unveils Regulatory Framework for Non-bank Merchant Acquiring Obinna Chima The Central Bank of Nigeria (CBN) has introduced the regulatory framework for Non-bank merchant acquiring in Nigeria. The banking sector regulatory explained in a circular posted on its website at the weekend, that the move was to promote a sound financial system and facilitate the development of electronic payment system in Nigeria; The framework sets out the procedures for the operation of

Non-bank Merchant Acquiring in Nigeria, including the rights and obligations of the parties involved in the process. It also compels Non-bank Merchant Acquirers to meet the minimum standards of operations, as approved by the central bank. The participants in non-bank acquiring sub-sector includes nonbank acquirer; settlement bank/ sponsor bank; merchant’s deposit money bank; card schemes; other payment schemes; Nigeria Central Switch (NCS).

“Only Licensed Switching and Processing Companies, other than acquiring banks, shall be allowed to process and settle transactions on behalf of merchants in Nigeria. The Bank shall approve non-bank acquirers, as it deems necessary, from time to time. “The role of the settlement/ sponsor bank shall be as prescribed in the Guidelines for the Operations of Electronic Payment Channels in Nigeria and other relevant regulations. “The role of the merchant’s

Firm Restates Commitment to Digital Inclusion Emma Okonji E-Settlement Limited, a financial technology (Fintech) firm has restated its commitment to ensuring that the country’s financial inclusion drive gets to the nooks and crannies of the country, through its massive deployment of agents in rural areas. The firm said it would work with the Central Bank of Nigeria (CBN), to bring innovations, in line with the apex bank’s directives on cashless economy. The Chief Operating Officer of E-Settlement Limited, Lolade Akinsete, who gave the assurance, said the firm had been repositioned to change the way Nigerians transact with a bouquet of world-class products that would make transactions easier, seamless and secured. Speaking on the need to address the financial inclusion challenges in the country, she said: “We are a financial technology company

with solutions tailored to solve financial problems through the use of Information Technology (IT). E-Settlement Limited is an independent, private sector led-limited liability company located in Lagos, with a focus on providing innovative, dependable, easy-to-use, affordable and secure payment solutions to everyday financial problems in Africa.” On the Paycentre solution, Akinsete added that “Paycentre is a financial inclusion solution that provides some banking hall services outside of the brick bank especially in underserved and unbanked communities. Paycentre also aims to be a lifestyle solution with bill payment features ranging from airtime, to cable and also electricity. Paycentre aims to provide everyday needs for funds without you having to visit a bank. The PayCentre Web and Mobile app grants you the freedom to receive and provide banking hall

services by offering you the best agency banking solution in Africa. Our easy-to-use platform grants you total control and insight into your business performance” In the area of deploying other innovative solutions such as PayPad, she described Paypad as a merchant solution and is only card present. “It is your regular POS but ours is mPOS, where the merchant/ shop owner has an application and can input the cost of the item bought on the app and the mPOS serves as a card reader. Interesting fact, Paycentre was born out of the Paypad solution. Paypad is an mPOS solution that enables businesses receive payments via a smart phone. PayPad grants its users access to functions such as e-marketing, smart printing, sales analytics, payment acceptance, seamless integration, multi-location support, invoice and order issuance,” she said.

deposit money bank shall be as prescribed in the Guidelines for the Operations of Electronic Payment Channels in Nigeria and other relevant regulations. The role of the Payment Schemes/ NCS shall be as prescribed in the Guidelines for the Operations of Electronic Payment Channels in Nigeria and other relevant regulations,” it added. It further stated that the nonbank acquirers shall have in place adequate policies for the management of risks associated

with the acquiring services. Furthermore, it stated that necessary agreements shall be executed with parties to the acquiring services, while the non-bank acquirer shall have and implement policies that include minimum standards established by the payments schemes (including card schemes) to mitigate risk to the payment system. “The policies shall be approved by the acquirer’s Board of Directors or as appropriate, an executive management committee.

Upon request, these policies shall be made available to relevant scheme. 4 “The non-bank acquirer shall maintain merchant agreements that meet the respective scheme’s minimum requirements for disclosure, and clearly define obligations of acquirer, merchant and other parties. Furthermore, it shall have appropriate merchant agreement(s) in place with each merchant, prior to provision of transaction acquiring services,” it added.

NCAA, ASI Institute Organise Workshop on Aviation Development Chinedu Eze The Nigerian Civil Aviation Authority (NCAA) in conjunction with the ASI Institute and Egis is organising a workshop on the global megatrends and opportunities in the sector. The workshop with the theme: ‘Global Megatrends and Impact on Aviation Workshop,’ is scheduled to hold virtually on June 2, 2021. The workshop, which is divided into three sessions, tends to focus on the challenges in the global aviation industry at present and also forecasts the critical challenges that the sector may encounter in the next 10 years, especially on climate change and technology development. Session one is an overview of the Global Megatrends and the Uncertainty of the Future; session two focuses on Impacts and Collisions, while session three is on

Planning for a Turbulent Future. The event has critical industry professionals as participants from Nigeria and outside the country. The Director-General of NCAA, Capt. Musa Nuhu, would present the welcome address, while JeanMarc Trottier would introduce the panel of discussants and present a paper on ‘Planning for a Turbulent Future’ – A Panel and Round Table. Pierre Coutu would speak on the ‘Global Megatrends in Aviation’ and Gordon Hamilton would present a paper on ‘Impacts and Collisions Panel’ and Round Table. Nuhu has a deep background in aviation, with Nigeria Airways, the Nigerian Presidential Fleet, Aero Contractors, Petrowest and with the Nigerian Civil Aviation Authority (NCAA). From 2016 to 2019, Nuhu served as Nigeria’s Representative at the International Civil Aviation Organisation (ICAO).

Also, Coutu is the President of Aviation Strategies International (ASI) and Chair, ASI Institute. A specialist in aviation business strategy, he has been the Executive in charge of the Global ACI-ICAO Airport Management. Trottier has more than 50 years of experience in almost every area of airline and airport operations. He is Vice-Chairman Aviation Strategies International (ASI) and Executive Director of the ASI Institute. Hamilton is the Executive Vice President at Aviation Strategies International. His experience in airport development and operations spans more than 30 years and includes aeronautical and commercial revenue development, financial advisory services for airport PPP transactions, master planning for existing and Greenfield airports, terminal planning, and airport operations improvements.

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Emefiele: Why States Must Repay their Loans The Central Bank of Nigeria Governor, Mr. Godwin Emefiele, in this post-Monetary Policy Committee media briefing fielded questions on sundry issues around the Nigerian economy. Excerpts:

hat is your view on the recently released ﬁrst quarter Gross Domestic Product ﬁgures and what actions would the central bank take to ensure that the indices remain positive and the economy continues to expand? I think it is important to say that for us at the CBN, we are not surprised. We are not surprised because Nigeria is just one country that is peculiar for a situation that is out of the ordinary. Out of the ordinary because you find Nigeria among several countries that is challenged by stagflation. Stagflation is a situation whereby inflation is running high, prices are running high and at same time, output growth, in this case the GDP is contracting. If you understand how this works, you will find out that as MPC, your core responsibility is to rein inflation by ensuring that you keep supreme your price and monetary stability mandate. And to do so means that you have to tighten to be able to rein in inflation. On the other hand, the economy is confronted by a contracting output where growth is negative. And the normal way in economics you would want to really recover from a contracting economy is to stimulate the economy with a lot of easing and by injecting liquidity into the system so as to stimulate consumption, investment, increased government expenditure, increased export earnings and possibly see what you can do to reduce imports. That is basically the definition of output growth - Y = C + I + G + (X − M). That is what you need to do. So, you find that in doing this you are seeing a situation where the objective is moving in opposite direction. But what did we do? At MPC, particularly in the last meeting, we said we would try as much as possible to be pro-growth so as to continue to see what can be done to accelerate output and at same time we are going to keep our eyes on whatever can be done to rein inflation. And in doing this, MPC came up at that meeting and said we are going to be adopting a systematic synchronisation of monetary policy variables that would help to rein in inflation and at same time boost output. At the last meeting, MPC encouraged the management to adopt some form of administrative measures to mop up liquidity and control money supply in the system and in the process rein in inflation by reducing the money supply that would help to control inflation. But at same time, on the output side, we agreed to use our development finance tools to boost output by ensuring that liquidity and funding is made available at concessionary rates to employment-generating and output-stimulating sectors of the economy. So, that is what we have done and that is the reason we are saying it is not a surprise to us; but those who do not understand it would be wondering how it happened. I have heard a couple of people say they expected the output to be negative and some even said manufacturing has not seen enough impetus to make the output growth positive. But, let me give you some numbers: When the pandemic struck effectively, we said all CBN facilities would now go at five per cent and what we did was also to extend that in 2021 to March 2022. We asked the banks to restructure some of the facilities of companies and businesses that are being impacted adversely by the pandemic. We provided stimulus by saying we are putting in place initially N100 billion for targeted credit facility, we increased it to N150 billion; at the last meeting it was increased to N300 billion because we saw the positive effect this was having on consumption expenditure. We also went forward to say that for the health sector, we would make available stimulus of N100 billion for some of our pharmaceutical industries that had gone moribund to come back alive or even expand the plants of some of the existing ones. Also to see what can be done to retool our hospitals so that they can provide health facilities. These were all stimulus that were meant to stimulate consumption expenditure and also investments. We are also doing everything possible to ensure that goods that can be produced in the country are produced here so as to constrain imports and make it difficult for people who want to access forex to bring those things that can be produced here. So, for us, it is science to expect that what happened (GDP Growth), took place. On the manufacturing and agric sector where the Lagos Chamber of Commerce and Industry’s Director-General was talking about, we made available N1 trillion and out of that, we have disbursed so far, N856 billion to 77

Emeﬁele manufacturers – 36 in agro-business; 30 in services and 11 in mining. These are targeted interventions to support employment-stimulating and outputgenerating sectors of the economy at the intervention rate of five per cent. So, it is not surprising that we are seeing what we are seeing presently. But what MPC has decided that we should be doing is to see how we can proceed from here? What are those indicators that made us see the positive GDP figures? That is why we decided to hold interest rate and we have decided to continue our administrative measures. On the output side, we were encouraged to continue to use our interventions to agriculture, manufacturing and the targeted credit facilities to make sure we are able to stimulate consumption and investments in order to ultimately yield positive result for growth in the economy. Indeed, out of the targeted credit facility, almost the entire N300 billion has now been disbursed and the MPC has encouraged the management of CBN to increase it to N400 billion. What does that mean? More money would be made available to households, small businesses for then to go back to business, which would ultimately yield employment and grow our economy. So, when people begin to doubt the NBS numbers, I think they are speaking from uninformed position about what is happening in the Nigerian economy. We have always said the CBN processes the data and we have data and we would continue to read the data out for Nigerians to see what we are doing. So, we ask policy analysts to always demand for data, on the basis of which they come up with conclusions and not for them to be making disparaging comments that tend to create problems for the managers of the economy. What is your view concerning insecurity in the country? If there is high level of insecurity that results in the kind of situation we are seeing today, then the economy would suffer; even in the midst of all the efforts we are putting in place to resolve the problem. I heard after the National Security Council meeting last week where the Chief of Defense Staff assured us that everything is being done and he talked about the fact that the military has made some successful inroads into the north central part of the country. Indeed I was reading the newspaper where some people in Niger State and even the State Governor said they have seen some improvements in security in the state; which tends to confirm what the Chief of Defense Staff talked about. He also talked about the fact that in the north-western part of the country, efforts have been made to address some of the security challenges in those areas. Yes, they have not fully completed that assignment, but I can see that we

are making some progress. He also alluded to the fact that efforts would now be targeted at the south-eastern, south-western and north-eastern parts. So, I am optimistic that the security institutions are doing their best to tackle insecurity. And I must say this: Nigerians know that about three years ago the federal government and the United State government signed a pact that resulted in a government-to-government acquisition of military equipment, out of which we are expecting at least 12 tucano aircraft or fighter planes that would help us combat insecurity. Letters of credit were opened through the CBN and funds were remitted to the United States. I am aware that at least six of those aircraft are coming in between July and August and I therefore would like to appeal to our brothers who decided that they would like to live in the bushes and forests that they should please begin to retreat, drop their arms and come and embrace the Anchor Borrowers’ Programme. If they do so, it will help them; but if they choose not to do so, then they would be confronted by security as this battle continues. So, I am optimistic that before the end of the year, the security challenges confronting the country would substantially abate. Last year, February precisely, you announced some stimulus for households and small businesses impacted by COVID-19 and also granted some form of forbearance. But then SMEs are complaining that banks are offering higher interest rates to them and some are even demanding they start repaying their loans, can you speak to us about that? Yes, we said five per cent for CBN’s interventions we have extended it to March next year. The banks are asking for their loans to be paid back. In any case, I must admit that the banks are saying that there have been some improvements in the economy, even though fragile. Crude prices have gone up and business activities are beginning to regain energy and life once more. So, if the banks are asking for the repayment of their facilities, I think it would be justified. You raised the issue of interest rate, that the banks are charging higher rates. We admit at CBN that we are controlling money supply and if we control money and the banks raise interest rates in non-employment generating sectors or non-output generating sectors of the economy, we can’t force them. That is because we have our intervention facilities meant to target agricultural, SMEs and households meant to stimulate employment and output for the economy. Recently, the global economy witnessed ripples from the crypto-currency market which saw some people praising the CBN. Can

you conﬁrm if your stance actually protected Nigerians from that market? It is not about the CBN being vindicated. We had carried out our investigation and we found out that a substantial amount of our people are getting involved in cryptocurrency and that it is not the best for them. Don’t get me wrong; some may be legitimate, and I will corroborate that. Under cryptocurrency or bitcoin, Nigeria comes second; but in the global size of economies, Nigeria comes 27th. So, do you think those countries whose economies are between second and 26th would allow you to grow your cryptocurrency business to second position if what is involved is a big deal that is going to profit everybody? It is not that simple. But we are still analysing data and we would make them available at the appropriate time. Of course, we saw it that the market collapsed. Elon Musk twitted about the time we said our banking and payment infrastructure would no longer be available for crypto-currency transactions that he was going to invest $1.5 billion in that market and the rates went to the roof. And he later twitted again and raised a few concerns and prices plunged. Elon Musk has decided that he would no longer deal on cryptocurrency. I was confronted at the National Assembly by someone who said he deals on $50 million cryptocurrency weekly and I was wondering where did the dollar come in through? Through what bank did the dollar of $50 million per week flow through? And he was looking at me because those dollars didn’t come into the Nigerian economy. If it didn’t come into the Nigerian economy, I have no reason to believe it is a legitimate business. But don’t forget, those who invented crypto said it is encrypted. When they say it is encrypted, it means that whatever is happening between you and I is only known to both of us. So, in case I defraud you, because it is encrypted, you won’t be able to disclose my name and you can’t get your money back. That is not what a responsible central bank would support. I have heard about digital currency; we are working on it, we have set up a committee at the CBN and I can assure everybody that digital currency would come to life in Nigeria. It has been observed that the ofﬁcial exchange rate on the CBN’s website has been replaced with the NAFEX rate, what does that imply and I will like you to speak to the availability of forex in the country? We found out that we were not dealing on the official rate. All transactions are benchmarked against the NAFEX. I had in some places where some said CONTINUED ON PAGE 29

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EMEFIELE: WHY STATES MUST REPAY THEIR LOANS we have depreciated the currency and I came out to say we did not depreciate the currency. Nigeria still operates a managed float regime where the CBN would observe the market and as it deems fit, depending on the direction where it thinks the market would be, would intervene to control exchange rate in the market. And that is what we are doing. So, that NAFEX rate you are seeing at N410 to a dollar today, it might be N409 to a dollar tomorrow, N411 or even N400. That is because we are monitoring the market. So, it is not fixed, we are still managed float system where we are monitoring the market to see what is happening in order for us to ensure that the right things are happening for the good of the Nigerian economy. In terms of availability of forex, $35 billion of external reserves can support almost 10 months of Nigeria’s imports. I don’t know why anybody would worry. But I can only assure you that we are doing everything to ensure that the CBN is able to fund all legitimate domestic import obligations of people who need forex and we are not going to shirk our responsibility in this area. I will like to know if you have commenced the process of recovering the loans granted to the various states in the country?

There are two aspects to this: There are intervention facilities granted by the bank and there are bilateral facilities granted by the deposit money banks to them. They went to deposit money banks, they asked for loans and signed the offer letters with those banks and the gave their Irrevocable Standing Payment Orders (IPSOs) to the Federal Ministry of Finance that on a monthly basis the Minister should deduct from their monies and pay the banks for the loans they had taken. And I am aware that the banks had written to the Finance Minister and they had copied me that they want their money. If it was the bilateral loan, they should pay their loans. On the CBN intervention facilities to the state governments, we are engaging the National Economic Council (NEC) and the CBN is also insisting that its loans must be paid. But depending on the outcome of the discussion between the CBN, Minister of Finance and NEC, we would begin to take back the money we gave them. In any case, it is good for you to be a debtor. When you take a loan, you ensure repayment so that when you go back to the bank, you can get. But if you refuse to pay, you will never smell the doorstep of the banker again. The CBN’s ‘Naira-4-Dollar’ policy ought to have come to an end by May 8th, but it was

recently extended indeﬁnitely. What is your assessment of the programme and what has been its impact? Yes, we extended it indefinitely because we feel that we need to encourage diaspora remittance into Nigeria. I have been reading that the size of remittance in Nigeria is almost $30 billion and the only way I can see such an amount is to encourage more diaspora remittances. So, that is like an incentive of promo and we have decided we are going to do the promo so that we would continue to see the flows come in. We actually have been seeing the trend that it is rising. We did it because we feel other countries are offering same incentives. Pakistan and Bangladesh, on a monthly basis they collect close to $2 billion from remittances and they have similar kinds of incentives that they put for their citizens in diaspora. So, we would continue to do whatever we need to do to encourage diaspora remittance because it is one of the four areas through which we can encourage flows into the country in order for us to meet our obligations. You were in Ekiti recently where you faulted claims of the imbalance in the bank’s intervention scheme, I will like you to throw more light on that?

I have debunked that allegation earlier. Like I said, close to N600 billion had been disbursed to various interventions of the CBN and out of that N300 billion has been disbursed to the southern part of the country. The CBN has adopted various measures such as credit to SMEs that have helped to stimulate output, now that the CBN is attaining its threshold, what does the central bank intends to do? As long as we find that what we are doing is yielding results, particularly boost consumption expenditure and investments, we would continue to do so. That is the reason the MPC has given us the mandate to say we should move further at N400 billion in order to support our households and SMEs for them to begin to do business. We have received positive testimonials about how this has helped. In fact, we are going to begin a television documentary to show those who have benefited from this and how it is helping them to create jobs. So, we would continue to do these things because we believe it will help our economy to grow and the level of insecurity reduced

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EEDC: It’s in Our Interest to Have All Our Customers Metered Hamid Ayodeji The Enugu Electricity Distribution Plc (EEDC) has said it is in the best interest of the company to have all its customers across the South-east metered. But the Disco appealed that the customers should allow the meters to function without tampering with them. This was made known by the Acting Managing Director of the distribution company, Mr. Paul Okeke, during his presentation at the Revised Enugu State Business Agenda Stakeholders’ Conference, organized by the Enugu Coalition of Business and Professional Association (ECOBPA) in Enugu. Okeke, who was represented by the Head Corporate Communications, EEDC, Mr. Emeka Ezeh, was quoted in a statement to have said the company at inception inherited a wide metering gap, which has informed the challenge being faced currently, and has been making efforts towards closing the gap.

He also acknowledged the ongoing National Mass Metering Programme (NMMP), an initiative of the federal government, saying it would go a long way in ensuring that more customers are metered. “We are currently in Phase Zero of the metering programme with 92,300 meters, out of which about 40,000 have been installed” Okeke stated. He expressed concern over the poor payment attitude of customers, pointing it out as one of the challenges the company is grappling with. Okeke emphasised that EEDC is now a private entity and customers are expected to pay their bills, as that is the only way the company can effectively and efficiently function and deliver quality services to its customers. Acknowledging the dilapidated state of the network upon take over, Okeke enumerated efforts being made by EEDC to improve the condition and deliver reliable service to its customers.

Illegal Fishing: Ibom Deep Seaport to Save Nigeria $70m Eromosele Abiodun The Ibom deep seaport located in Ibaka, Mbo local council of Akwa Ibom State would save Nigeria approximately $70 million that would have been allegedly lost to illegal fishing by the Chinese and European trawlers in Nigeria’s territorial waters, Akwa Ibom State Director of National Orientation Agency, (NOA), Mr. Enoh Uyoh has said. Uyoh, disclosed this while addressing a Maritime Business/ International Trade Sensitisation Forum in Uyo. This is just as the Chairman, Technical Committee on Ibom deep seaport Actualisation and Development and former Director General of Nigerian Maritime Administration and Safety Agency

(NIMASA), Mrs. Mfon Usoro, has explained that the federal government decided the location of the port based on recommendations by the consultants, Maritime & Transport Business Solutions (MTBS) in its Outline Business Case (OBC). Usoro, stressed that all evidence confirmed that the federal government located the deep seaport in Ibom based on the fact that approval for location and construction of deep seaports was constitutionally the exclusive preserve of the Federal Government of Nigeria. Citing the critical role of the maritime industry in Nigeria’s economic growth, Uyo explained that the location of the Ibom Deep Seaport is critical to national security.

According to him, “Nigeria loses approximately $70 million to illegal fishing by the Chinese and European trawlers in our territorial waters. The citing of Ibom Deep Seaport at Ibaka in Mbo Local Government will, to a large extent, provide the muchneeded security in the region as much attention will be paid to the security of vessels, and maritime activities by local fishermen will receive a boost.” He added, “Maritime trade has played a key role in Nigeria’s economic development. It accounts for about 95 per cent of the vehicular means of Nigeria’s International Trade.” Uyoh expressed hope that the seaport when operational would provide job opportunities to indigenes.

He called on the host communities to do everything in their power for business to thrive in the area for their benefit and that of the state, and of the nation at large. Usoro who is the immediatepast Secretary General of the Abuja Memorandum of Understanding on Port State Control for West and Central African Region, stressed that all evidence confirm that the federal government located the deep seaport in Ibom as approvals for location and construction of deep seaports is exclusive preserve of the government. She recalled that the Federal Executive Council (FEC) approved the Outline Business Case and Commencement of Procurement Phase of Ibom deep seaport in May 2015.

NAHCO Exports 20m Kg of Agricultural Produce Overseas Chinedu Eze The Nigerian Aviation Handling Company Plc (NAHCOaviance) has confirmed that there is growing demand for Nigerian farm produce overseas, saying it has exported 20 million kilogrammes of agricultural produce in the last four years. NAHCO said there is a growing demand for Nigerian farm produce and even manufactured goods, a new market with huge potential. The company also said it has taken delivery of N2 billion modern Ground Support Equipment (GSE) in the last two years to support its services. These were disclosed at a webinar organised by the Nigerian-British Chambers of Commerce (NBCC) with the theme: ‘Unlocking Trade and Export Opportunities in the Agricultural Sector,’ held in Lagos, at the weekend. The Group Managing Director, Nahcoaviance, Mrs. Olatokunbo Fagbemi, in her presentation said N2 billion worth of equipment acquired by the ground handling company was for facility upgrade across the nation’s airports. She stated that the acquisition of the equipment had further positioned NAHCO as a lead-

ing ground handling company in the sector, stressing that the management would continue to upgrade its equipment in order to meet the demands of its clients. According to her, NAHCO handles directly airlines to over 20 countries, including China and India, while the carriers operate to beyond 51 points beyond across the globe. In a bid to grow the economy, Fagbemi canvassed for the development of the non-oil sector, stressing that with this, development in Nigeria would be accelerated, stressing that more direct jobs would be created. She explained that NAHCO operates from 16 stations nationwide with easy connects to domestic and international airports and cities across the world. She emphasised that NAHCO had five cargo facilities in Lagos, Enugu, Port Harcourt, Kano and Abuja Airports, noting that cargo airlines are able to connect the world through these airports it operates from. She maintained that NAHCO has cordial relationship with the Nigerian Export Promotion Council (NEPC), Nigeria Customs Service (NCS), Quarantine and other organisations in the sector for the exportation of goods out of the country.

FELLOWSHIP CONFERMENT CEREMONY

L-R: Deputy Vice President, Chartered Institute of Taxation of Nigeria (CITN), Mr. Samuel Agbeluyi; President, Gladys Olajumoke Simplice; Senior Special Assistant to the President of Nigeria on Niger Delta Aﬀairs, Sen. Ita Enang; Special Adviser to the Minister of Works and Housing on Policy and Legal Matters, Mr. Lanre Akinsola; and Chairman, Membership and Professional Conduct Committee, CITN, Ben Omonayajo, at the CITN 2021 fellowship conferment ceremony held in Lagos...recently ETOP UKUTT

NIMNConfersFellowshipAwardonOkorafor,Nasir,Ekezie-Ekaidem,Others Oluchi Chibuzor Twenty-seven leading marketing professionals were recently awarded the highest professional title of fellows by the National Institute of Marketing of Nigeria (NIMN). The professionals were awarded with the highest membership grade of the institute during its Annual Marketing Conference and Dinner held in Lagos, recently. Some of those conferred with the award at the elaborate event

‘$500m Investment Underway in Ogun’ Hamid Ayodeji The paper industry in Ogun State is about to get a big boost as the Dahua Paper Company Nigeria Limited, Owiwi in Ewekoro Local Government Area of the State says it is set to invest $500 million on tree plantation for paper production in the state. A working Partner in the company, Prince Bayo Ikujenyo made this known when the State Commissioner for Industry, Trade Investment, Mrs. Kikelomo Longe, and her team visited the company stating that the project which would be a 10,000 hectare tree plantation is segmented into the cultivation of 2,500 hectares of trees annually for four years.

He was quoted in a statement signed by the Press Officers, Ministry of Industry, Trade and Investment, Ogun State, to have said the company had sought the approval of the state government for the 10,000 hectares of land needed adding that with the project, “ a minimum of 5,000 workers would be directly employed and two million indirect jobs would be created.” The working Partner said when the paper production project commences it would help generate foreign exchange, strengthen the naira and enable the exportation of paper to other countries. Ikujenyo also disclosed that

the company was already expanding the capacity of its paper recycling plant from a daily production capacity of 500 tonnes to 1,100 tonnes lauding the present administration “ for providing enabling environment for businesses to flourish in a deliberate manner.” Responding, Longe assured that her Ministry would work with the Ministry of Forestry to “accelerate the processing of the 10,000 heactares of land requested by the company”. She added that the Dapo Abiodun-led administration would continue to create enabling environment through the provision of infrastructure and implementation of business-friendly policies.

included Dr. Obaro Odeghe, Executive Director, Corporate Bank Directorate, Fidelity Bank Plc; Mr Ramon Olanrewaju Nasir, Group Head, Media and External Relations of United Bank for Africa; Mr. Babatunde Olufowora, CEO, Red Ribbon Limited; Mrs Ogochukwu Ekezie-Ekaidem, Chief Brand Marketing Officer at Union Bank; Isaac Okorafor, erstwhile Director of Corporate Communication, Central Bank of Nigeria(CBN); Michelle Nwoga, Head Customer Experience, UBA

and Adedayo Aderugbo, Head of Corporate Affairs, Standard Chartered Bank. Other recipients included Ngozichukwuka Akinyele, Head Strategic Brand Management, Union Bank; Rahman Mustapha, Senior Lecturer, Department of Business, Kwara Stae University; Goke Iyiola, Chief Marketing Officer, &Edge; Hadiza, Abubakar, Senior Lecturer; Kaduna State University and Samson Opaleye; Experienced Market Intelligence Analyst.

The institute also conferred honorary fellowship award on Nnaemeka Ejeh, Group Executive, Retail Banking Group South, First Bank of Nigeria Limited. The outgoing President and Chairman of Council, NIMN, Mr. Tony Agenmonmen, who spoke at the event, urged the new fellows to promote professionalism and propagate the Institute’s mission of creating an enduring, distinctive value for all stakeholders through the development, promotion

‘PVB Bill to Boost R&D in Agric Sector’ Oluchi Chibuzor The National Agricultural Seeds Advocacy Group (NASAG) has said the effective implementation of the Plant Variety Bill (PVB) will enhance research and development in the agribusiness sector. According to them, the law would enable farmers access wide varieties of improved plant varieties that would result from the breeding programmes that would be protected under the law. The group stated this at a virtual meeting held recently in partnership with Sustainable Entrepreneurship and Economic Development Initiative.

Speaking during the meeting, the national coordinator, NASAG, said in the absence of a law protecting the rights of breeders in Nigeria, plant breeders both in the public and private sectors have remained non-committal towards investing in plant breeding as there is no guarantee that their rights will be recognized and respected. The group in statement said the ability of Nigeria’s agricultural systems to sustainably support innovations in the seed sector was not within acceptable bounds, adding that to avert looming food security, there was an urgent need to open up the research and development in the seed sector for improved

agricultural productivity in the country. Okeke maintained that plant breeders that have invested huge resources in developing plant varieties have often had the same varieties duplicated for commercial purposes without their consent, leaving the original breeders with little or no value for their research breakthroughs. According to him, the seed sector is the bedrock of the agricultural sector, stressing that it there cannot be an agricultural sector and, “without continuous research and development in the seed sector, there will continue to be an agricultural sector incapable of supporting our food security aspirations.”

MONDAY MAY 31, 2021 • T H I S D AY

IMAGES

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L-R: Lagos State Governor, Mr. Babajide Sanwo-Olu; Mother of late Brigadier-General Olatunji Olayinka, Mrs Folakunmi Olayinka; and Senator Tokunbo Abiru during a condolence visit to the family of the late General in Surulere, Lagos...recently

Former President Goodluck Jonathan (right) being welcomed by President Muhammadu Buhari to the Presidential Villa, Abuja...recently PHOTO: GODWIN OMOIGUI

Minister of Humanitarian Aﬀairs, Disaster Management and Social Development (FMHA), Hajia Umar Farouq; Permanent Secretary, FMHA, Mr. Bashir Nura Alkali and Director, Human Resources and Management, Mr. Babatunde Jaji, during the sensitization workshop on eﬀective media reporting organized by the ministry of Humanitarian in Abuja...recently PHOTO: ENOCK REUBEN

L-R: Nollywood actress, and a Nigerian radio presenter, Omotunde Adebowale David; Pupils from Edgelane School Ikotun/winners of the 2021 Indomie Fan Club (IFC) Talent Competition, and National Coordinator, IFC, Faith Joshua, during the 2021 Indomie Children Day celebration in Lagos... recently PHOTO: ETOP UKUTT

Minister of State for Environment, Sharon Ikeazor (left), and Lamdo of Gashaka Village in Taraba State, Alhaji Zubairu Hamman Gabdo.during a visit by the minister to Taraba...recently

L-R: Sudan Minister of Foreign Aﬀairs and Heads of Delegation, Mariam El-Sadiq Al-Mahdi and Chief of Staﬀ to the President Prof Ibrahim Gambari, during a meeting at the State House in Abuja...recently PHOTO: STATE HOUSE

Sector Commander, Federal Road Safety Corps (FRSC) in Oyo State, Uche Chukwurah (right) presents gifts to some children at the 2021 Children’s Day celebration organised by FRSC in Ibadan....recently

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L-R: Clerk, House of Representatives Ad-Hoc Committee to Investigate the Governing Lease of Federal Government-Owned Assets, Mr Chukwuemeka Ejimonye; Chairman of the Committee, Rep. Daniel Asuquo; Representative of the Speaker, Rep. Alhassan Ado-Doguwa and a member of the committee, Rep. Musa Adamu, during an investigative hearing, at the National Assembly Complex in Abuja...recently

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L-R: Deputy Governor of Ondo State, Mr Lucky Aiyedatiwa; Oba Adeleke Adegbite; the Owa-Ale of Ikare-Akoko and his wife, after the presentation of instrument of appointment and staﬀ of oﬃce to the Oba, at Ikare-Akoko in Ondo State....recently

National President, Nigeria Airforce Oﬃcers Wives Association (NAFOWA), Mrs Olubunmi Amao (left), presenting medical Equipment to the Commandant, 063 NAF Hospital, Group Capt. Muzzamil Mohammed, during a Medical and Humanitarian Outreach to 063 NAF Hospital and Military Widows to commemorate 2021 NAF Day celebration in Abuja...recently

L-R: Senior Media & Brand PR Manager, Nigerian Breweries Plc., Sandra Amachree; National Key Accounts Manager, Nigerian Breweries Plc., Okwudili Nwakobi; Brand Manager, Star Radler, Onyebuchi Nwangwu; and Senior Brand Manager, Flavoured Beer, Kolawole Akintimehin at the Star Radler Brunch Party in Lagos... recently PHOTO: SUNDAY ADIGUN

L-R: Representative of the Chief of the Air Staﬀ, AVM Remigus Ekeh; wife of one of the seven Nigerian Air Force pilots that died in Abuja, Mrs Olawunmi Anne and Chairperson, Victims Support Fund (VSF), Taskforce on COVID-19, Mrs Toyosi Akerele-Ogunsiji during the presentation of cheque to one of the wives of the victims in Abuja...recently

L- R: Chairman, HEDA resource Center, Mr. Olanrewaju Suraju; Human right lawyer, Mr. Femi Falana SAN; and Chairman of the occasion, Mr. Sheu Abdullahi; during the 24th Anticorruption situation room, organised by HEDA resource center in Abuja.. recently

L-R: Director General, Culture and Communications, German Foreign Oﬃce and Head of the German delegation to Benin, Dr. Andreas Görgen; President of the Prussian Cultural Heritage Foundation; Prof. Dr. Herrmann Parzinger and Deputy Chief of Mission, German Embassy, Helmut Kulitz, during a visit to the National Museum in Benin City...recently

T H I S D AY ˾ ͱͯ˜ ͰͮͰͯ

CITYSTRINGS

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

Tasking the New Army Chief In the past, many Nigerians did not place much emphasis on who becomes the Chief of Army Staff except for those in military cycle. But this is certainly not the case in recent years with the state of insecurity in the country. This is why a lot is expected from Major General Farouk Yahaya as he leads the army in the battle against general insecurity in the country, writes Davidson Iriekpen

fter days of uncertainty, President Muhammadu Buhari, last Thursday, appointed Major General Farouk Yahaya as the new Chief of Army Staff. He succeeded Lt. General Ibrahim Attahiru, who died in a NAF plane crash in Kaduna State along with 10 senior officers and crew members penultimate Friday. Yahaya was born on January 6, 1966 in Sifawa, Bodinga Local Government Area of Sokoto State. He is a member of the 37 Regular Course of the Nigerian Defence Academy (NDA). He started his cadet training on September 27, 1985 and was commissioned into the Nigerian Army Infantry Corps on September 22, 1990. The new Army chief has held several appointments including staff, instructional and command. Notable among the appointments held by the new COAS are Garrison Commander Headquarters Guards Brigade, Directing Staff at the Armed Forces Command and Staff College (AFCSC), Deputy Director Army Headquarters Department of Military Secretary, Deputy Director Army Research and Development and the Chief of Staff, Headquarters Joint Task Force Operation Pulo Shield. He also served as the Principal General Staff Officer (PGSO) to the Minister of Defence, the Commander, Headquarters 4 Brigade and 29 Task Force Brigade (Operation Zaman Lafiya), Director Manpower at the Army Headquarters, Military Secretary, Army Headquarters and General Officer Commanding (GOC) Headquarters 1 Division of the Nigerian Army. Until his appointment, Yahaya was the Theatre Commander Operation HADIN KAI responsible for CounterTerrorism and Counter-Insurgency operations in the North-east. Even though some Nigerians are not happy that President Buhari still picked his Chief of Army Staff from the northern part of the country, from his resume, the new Army chief is certainly qualified for the job and brings to the table, a lot of experience and qualities. Those, who have worked with him in previous positions have described as a man, who has the welfare of the army at heart. They added that he has the experience and all it takes to end insecurity in the country. This is why many observers are advising him to justify the president’s confidence in him by doing everything possible to stem the tide of insecurity. They also asked him to ensure interagency collaboration in resolving the lingering security challenges in the country. A few of the observers, who spoke with THISDAY, urged the new Army chief to consolidate on the successes recorded by the military in tackling all security threats. They equally charged him to be more vigilant, ensure increased cooperation and support by sharing information that can pave the way for faster mopping up the remnants of the insurgents and ending banditry and kidnapping in parts of the country. “This could be achieved and deepened sustainably through increased collaboration among the security services and communities. More vigilance and increased cooperation and support through sharing information can pave way for faster mopping up of the remnants of the insurgents and ending banditry and kidnapping in parts of the country,” one of the observers who

Major General Yahaya pays last respects to deceased predecessor, Ibrahim Attahiru

did not want his name mentioned,said. Besides the high expectations Nigerians have placed on the new Army chief, the people of Sokoto State, which has been experiencing banditry for a long time, expect far more from him. Unlike a former Chief of Army Staff, Lt. General Tukur Baratai, an indigene of Borno State, who could not tackle the Boko Haram menace, which had decimated the state, Yahaya is from Sifawa district of Bodinga Local Government Area of the state and his people expect far more from him to ease their suffering. Apart from attending Sifawa JNI Primary School, Sheikh Abubakar Mahmoud Gummi College of Art and Arabic Studies after which he proceeded to Usman Danfodiyo University for a pre-degree programme before joining the Nigeria Defence Academy (NDA), it is believed that he knows the terrain and how to rescue his people. In the last five months, over 100 lives had been lost in Sokoto State. This is why the state Commissioner for Land and Housing, Alhaji Aminu Bala Bodinga, who is a friend to the new Chief of Army Staff, said he has the experience and all it takes to end insecurity in the country. “He is a well-trained soldier, who also believes in humanitarian services, because there was no community project in Sifawa without his footprint. He has been helping people, sponsoring the education of many children. My prayer for him is to succeed in his new assignment,” he said. The Sarkin Kudun Sifawa, Muhammadu Buhari Tambari, said, “I am short of words to express myself at the moment. Right now, we are at my palace with some prominent sons of Sifawa celebrating and at the same time praying for his success. “We are hoping and praying that his appointment will end banditry and other security challenges in the country,” he said.

The chairman of Goronyo Local Government Area of the state, which has been bedevilled by bandits’ attacks, Abdulwahab Yahya Goronyo, said, “We are expecting him to address our challenges being somebody who is conversant with our areas. We will continue to pray for him and offer useful advice that will help him end the menace.” A Special Adviser to Sabon Birni Local Government Area on Security, Lamiru Umar, expressed optimism that the new army chief would deal decisively with bandits and Boko Haram as well as other criminal elements in the country. Before the appointment of the new Chief of Army Staff, President Buhari, whose prerogative it is to choose any officer of his choice for the job, was advised to jettison ethnicity, and consider superiority, merit and experience of the officer in the theatre of war before appointing anybody. A security expert, Kabiru Adamu, said it was expedient for the president to prove people who are saying he hates the South-east wrong by appointing someone from the region. This, he said, would quell their agitation. Adamu said: “Incidentally, the COPP represents a part of Nigeria that has been crying over the last six years that they are not represented within the security architecture. I think it is a good opportunity for this administration to show clearly that he reflects national character in his appointment. “National character is very important; merit is also absolutely important. Nigeria is very challenged at the moment; some will say we are at war. If we are at war, we need a military leader that can deliver victory to us in the war we are in. “What are the two major issues the military leader, especially, the army should focus. First is terrorism and then banditry. The role of military in these two issues is absolutely

important. “We can also add the third one which is the secessionists’ agitation that have been existing in the South-east which are not cropping up in the South-west. Now, in all these three issues, the army in particular will play a key role, so, it must be somebody who can deliver all these three things. “More importantly, he should be able to work with other security agencies to ensure a coordinated effort in handling these three issues.” In spite of the admonition, the president still went ahead to appoint a northerner. Nevertheless, Nigerians want the new Army chief to go about his new assignment with fairness and justice and to bring his wealth of experience to bear by ensuring that he exterminates insurgency, banditry, kidnapping and other forms of criminalities in the country. They also called on him to ensure that he restores the army to a detribalised and professional status it had attained in the past. Incidentally, he has been described as a man, who has the welfare of the army at heart. Therefore, he has been advised to address all forms of grievances in the Force by ensuring that the welfare of soldiers and officers on the frontline are paid promptly and adequately catered for to boost their morale and confidence. Observers have also advised General Yahaya to address the cases of officers, who were prematurely retired from service without justification under General Buratai. Some of the officers, who are in their 40s and many of whom the courts have ordered to be reinstated, still have a lot to contribute to the service. Most importantly, Yahaya has been advised not to follow the military tradition where members of Regular Course 35, Regular Course 36 and Regular Course 37 who are his senior by date of commission and those who are his coursemates are not compulsorily retired. Investigation revealed that with his appointment, over 40 generals would have to resign. The affected officers are mostly of 35 Regular Course, 36 Regular Course and 37 Regular Course. It was further gathered that the expected retirement of the senior officers in the army may also affect their colleagues in the navy and the air force. Further investigation revealed that the army's Chief of Policy and Plans, Maj. Gen. Ben Ahanotu, and Commander Training and Doctrine Command (TRADOC), Minna, Maj. Gen. Abubakar Maikobi, who were course mates of the late army chief, are certain to go. There is also the possibility that some members of Course 36, who are also senior to Yahaya, might be retired. But sources said their career could be saved through redeployment to the tri-service section of the military or to the Defence Headquarters, under the Chief of Defence Staff, Gen. Lucky Irabor, who is of Course 34. Considering the amount of investments the federal government has expended in training these officers and the fact that they are most needed this period when the military is overstretched, they should be posted to the resettlement centres, defence corporations, and other such military formations to help relief the service of manpower challenges.

MONDAY MAY 31, 2021 • T H I S D AY

T H I S D AY ˾ ͱͯ˜ 2021

BUSINESS/MONEYGUIDE

FX Spot, Forwards, Futures Markets Record $1.252bn Turnover Goddy Egene The foreign exchange (FX) Spot, Forwards and Futures markets on the FMDQ Securities Exchange recorded a total turnover of $1,250.97 million for the week ended May 28, 2021. This represented an increase of 0.72 per cent ($8.97 million) from the $1,242.00 million reported the previous week. The week-on-week increase in turnover, according to the exchange was driven by the 57.35 per cent ($128.13 million) increase in FX Derivatives turnover. According to analysis by FMDQ, the increase in FX Derivatives turnover was driven

by the increase of 299.8 per cent ($142.74 million) in FX Futures turnover, resulting in an increase in FX Derivatives’ contribution to total FX market turnover, by 14.22 percentage points to 28.1 per cent from 13.88 per cent recorded in the previous week. On the Investors’ & Exporters’ (I&E) FX window, the total value of trade was $899.42 million, representing a decrease of 11.7 per cent ($119.17 million) from $1,018.59 million traded in the week-ended May 21, 2021. A further analysis of the turnover on the FMDQ platform showed that the weekly average Nigerian Autonomous Foreign Exchange Fixing (NAFEX) rate depreciated, losing $/N0.07 to close at $/N410.91, compared

to $/N410.84 recorded in the previous. However, on the Bureaude-Change (BDC) market, the naira fell against the United State (US) dollars by $/N7 to close the week at $/N490, representing a 1.45 per cent depreciation when compared to $/N483.00 recorded in the previous week, resulting in a spread of $/N79.09 between the BDC rate and the weekly average NAFEX rate In the FX Futures market, $190.35 million worth of FX Futures contracts were traded in 22 deals, representing an increase of 299.81 per cent ($142.74 million) when compared to $47.61 million traded in five deals the previous week.

ETI to Leverage Technology, Partnerships for Growth Goddy Egene The Chairman of Ecobank Transnational Incorporated (ETI), the parent of the Ecobank Group, Mr. Alain Nkontchou, has said the pan-African bank will continually leverage on technology and partnerships to grow its business, especially in the area of trade, payments, remittances and financial inclusion. Addressing shareholders at the 33rd annual general meeting (AGM), Nkontchou said he became Chairman of the Ecobank Group in June 2020, when our world was dealing with the Covid-19 pandemic. “We offered our support in numerous ways to customers, employees, communities, health

authorities and governments. Through our multiple distribution channels and the substantial investments in technology, we were able to offer a seamless continuity of service. “We are intent on growing our business and will remain at the forefront of trade, payments, remittances and financial inclusion by continually leveraging on technology and appropriate partnerships,” he said. Also speaking, the Chief Executive Officer, Ecobank Group, Ade Ayeyemi, said they had invested and focused significantly on, ‘Building Back Better,’ to position for long-term growth and sustainability. “We will be driving our execution momentum agenda towards

utilising these investments to deliver revenue expansion and the generation of long-term growth and return of capital for the company and its shareholders,” Ayeyemi said. Shareholders applauded the group’s progress in 2020 and how it rose to the challenging environment. Profit for the year at ETI, the holding company, was $201 million compared with $184 million in 2019. For the consolidated Group, net revenues increased four per cent to $1,680 million. The gradual shift from physical to digital channels among consumers accelerated with the pandemic, which has changed the way of working in so many ways.

Kuda Commences $37m Financing Deal for Early Investors’Exit Nume Ekeghe The recently announced $37 million Series A financing round by Kuda, the Africa-focused challenger bank, has given early investors an ideal opportunity to exit their investment via a secondary sale. One investor, SM River, the consortium consisting of Raj Kulasingam, Haresh Aswani, Vishal Agarwal and Alwin Magimay which acted as lead investor of Kuda’s $1.6 million pre-seed round took the opportunity created by the secondary sale to realise a material return on their early investment. SM River was the largest investor in Kuda’s pre-seed round and its stake was bought

by Kuda’s existing investors. Founder & Chief Executive Officer Kuda bank, Mr. Babs Ogundeyi, in a statement made available to THISDAY explained: “It was important to give Kuda’s earliest investors an exit opportunity, and we are delighted that we have been able to repay their early backing of the company with a material return on their investment. “We are particularly grateful for the foresight shown by SM River in recognising the potential in Kuda during the company’s earliest days. “They have been incredible investors and have provided Kuda with so much value beyond money by leveraging their knowledge, reputations and networks to help Kuda

scale and grow. “We would like to thank the consortium for their early participation and contribution towards Kuda’s success. In realising their investment in Kuda, SM River will relinquish their seat on the company’s Board.” Speaking about the exit, Kulasingam on behalf of SM River Consortium said: “When we met Babs and Musty, we saw the huge opportunity for their vision of the creation of Nigeria’s first digital bank and backed them to take advantage of this opportunity. “It’s been an incredible journey of growth and scale and we commend the Kuda team for getting the company to where it is in such a short space of time. “

GTL Disburses N734m in Six Months Nume Ekeghe As part of efforts to support individuals and SMEs, Grand Treasurers Limited (GTL) has disclosed that it has disbursed over N734 million as loans to its growing clientele in six months. GTL said it offers loans at competitive interest rate with minimal documentation to individuals in the private and public sector in agricultural, manufacturing, trade, and general commerce with loans and lease

to boost their business operation. Commenting recently on the milestone, the Managing Director, Mr. Adetunji Tolani, said the firm has always been about delivering value to its customers irrespective of the size of business. Tolani stated: “Despite the important role SMEs play in stimulating growth in the economy and job creation, access to finance has over the years bewildered them – well-meaning businesses with great ideas and plan that would have thrived have died prematurely due to poor access

to finance. “Hence why we are in the business to provide such businesses will a flexible and easy access to funds as well as investment opportunities to bridge the gap.” GTL also offers lease to corporate, retail organisations and to hospitals for the purchase of medical equipment. Other services offered by GTL includes Treasury Services to individuals and corporate firms, Payroll Loans to Civil Servants, Personal Loans to workers, Project loans, local purchase loans amongst others.

MARKET INDICATORS 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 THURSDAY, 27 MAY 2021

The price of OPEC basket of thirteen crudes stood at $67.32 a barrel on Thursday, compared with $67.47 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zaﬁro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), 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

T H I S D AY ˾ ͱͯ˜ ͰͮͰͯ

11 Plc Shareholders Approve N3.1Billion Dividend Payout Goddy Egene Shareholders of 11 Plc (formerly Mobil Oil Nigeria Plc), a foremost downstream oil and gas company have approved the sum of N3. 06 billion for the financial year ended December 31, 2020. The approval was given at the 43rd annual general meeting(AGM) of the company held in Abuja, with the company assuring the shareholders of its commitment to continually

improve the return on their investments. According to the shareholders, the dividend was paid the company performance despite the negative impact of the pandemic and the impact of the acquisition of Lagos Continental Hotel, Lagos through its subsidiary Hospitality Business, 11 Hospitality Limited in the course of the 2020 financial year. One of the shareholders, Alhaji Sanni Yau, hailed the board and management of 11

P R I C E S MAIN BOARD

F O R DEALS

Plc for helping to maintain a strong and healthy balance sheet amidst recession and inflation that had affected businesses and the Nigerian economy in general. In his address, the Chairman of the company, Mr. Ramesh Kansagra, through an executive director, Alhaji Abdulkadir Aminu Mamman, explained that each shareholder would receive a dividend of 850 kobo per share. He noted that the business sustainability and diversification

S E C U R I T I E S MARKET PRICE

QUANTITY TRADED

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strategy being pursued by downstream major provided a solid base for the company to continue to grow and thrive amid challenging business environments. The Managing Director, Mr. Tunji Oyebanji, assured the shareholders of management’s determination to continually improve the company’s fortune drawing from the company’s investment in Liquefied Natural gas plant and the Hospitality

T R A D E D MAIN BOARD

A S

industry. A breakdown of the company’s audited results shows that its profit after Tax (PAT) recorded for the 2020 financial year stood at N6.231 billion, made from a revenue of N163.908 billion. The Company Secretary, Mr. Chris-Olumayowa Meseko was optimistic about the company’s growth despite its voluntary delisting from The Nigeria Exchange Limited (NGX) drawing from the experience of NIPCO Plc,

O F

the parent company of 11 Plc. The company had explained that its delisting would enable it to explore strategic opportunities, alliances and collaborations that can bolster earnings and synergised benefits with little or no regulatory obligations. It added that delisting would lead to greater focus and impact on the performance while it would not have any material changes on its operations, staff and board compositions.

2 8 / 0 5 / 2 0 2 1 DEALS

MARKET PRICE

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MONDAY, ͻ͹˜ ͺ͸ͺ͹ ˾ 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 27May-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 N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A Afrinvest Dollar Fund N/A N/A N/A 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 5.21% AIICO Balanced Fund 3.21 3.26 -11.00% 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 2.12% Anchoria Equity Fund 127.93 129.36 -3.82% Anchoria Fixed Income Fund 1.04 1.04 -21.51% 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 N/A N/A N/A ARM Discovery Balanced Fund N/A N/A N/A ARM Ethical Fund 36.96 38.08 9.65% ARM Eurobond Fund ($) 1.08 1.09 -11.30% ARM Fixed Income Fund 0.95 0.96 -14.64% ARM Money Market Fund 1.00 1.00 3.58% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 104.31 104.31 2.56% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 1.93 1.93 -25.34% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 1.98 2.01 -27.07% mutualfunds@cardinalstone.com CARDINALSTONE ASSET MANAGEMENT LIMITED Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund N/A N/A N/A CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 4.35% Cordros Milestone Fund 2023 115.28 116.03 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 106.56 106.56 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 1.00 1.00 2.60% Coronation Balanced Fund 1.14 1.16 -4.61% Coronation Fixed Income Fund 1.34 1.34 -15.49% 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 2.74% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 2.97% EDC Nigeria Fixed Income Fund 1,158.69 1,166.07 -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 1,369.87 1,369.87 9.86% FBN Balanced Fund 183.62 184.73 -2.16% FBN Halal Fund 109.54 109.54 5.99% FBN Money Market Fund 100.00 100.00 7.01% FBN Nigeria Eurobond (USD) Fund - Retail FBN Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund FSDH ASSET MANAGEMENT LTD Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Coral Growth Fund Coral Income Fund FSDH Treasury Bills Fund

124.87 151.34

124.87 3.27% 153.44 0.10% fcmbamhelpdesk@fcmb.com

Bid Price N/A N/A N/A N/A

Offer Price Yield / T-Rtn N/A N/A N/A N/A N/A N/A N/A N/A coralfunds@fsdhgroup.com

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Offer Price N/A N/A N/A

Yield / T-Rtn 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 3.08% Vantage Balanced Fund 2.73 2.79 18.95% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 148.43 148.85 -4.50% Vantage Equity Income Fund (VEIF) - June Year End 1.19 1.24 26.55% Vantage Dollar Fund (VDF) - June Year End 1.09 1.09 7.04% 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 1.35 1.37 -0.69% Lotus Halal Fixed Income Fund 1,138.74 1,138.74 3.11% 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 10.59 10.66 1.24% Meristem Money Market Fund 10.00 10.00 5.92% 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 1.63 1.65 7.33% PACAM Fixed Income Fund 12.39 12.45 2.12% PACAM Money Market Fund 10.00 10.00 3.66% PACAM Equity Fund 1.57 1.58 -1.02% PACAM EuroBond Fund 110.79 112.37 0.75% 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 129.34 131.67 7.53% 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 2.80% 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 3,109.66 3,134.22 -3.31% Stanbic IBTC Bond Fund 229.65 229.65 2.13% Stanbic IBTC Ethical Fund 1.17 1.18 -0.42% Stanbic IBTC Guaranteed Investment Fund 301.08 301.08 2.18% Stanbic IBTC Iman Fund 213.79 216.45 -2.16% Stanbic IBTC Money Market Fund 100.00 100.00 6.37% Stanbic IBTC Nigerian Equity Fund 10,076.70 10,201.43 -4.07% Stanbic IBTC Dollar Fund (USD) 1.25 1.25 2.24% Stanbic IBTC Shariah Fixed Income Fund 113.70 113.70 2.36% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 101.10 101.10 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 1.36 -2.52% United Capital Bond Fund 1.94 1.94 2.56% United Capital Equity Fund 0.88 0.90 1.85% United Capital Money Market Fund 1.00 1.00 8.79% United Capital Eurobond Fund 120.60 120.60 3.01% United Capital Wealth for Women Fund 1.08 1.09 -0.62% United capital Sukuk Fund 1.05 1.05 5.00% 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 12.08 12.19 1.83% Zenith Ethical Fund 13.56 13.68 11.00% Zenith Income Fund 24.07 24.07 0.39% Zenith Money Market Fund 1.00 1.00 4.78%

REITS NAV Per Share

Yield / T-Rtn

123.38 51.39

2.19% -1.93%

Bid Price

Offer Price

Yield / T-Rtn

12.17 122.41 95.54

12.27 122.41 97.26

-7.90% 0.55% -3.89%

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

3.67 5.56 16.65 1.00 18.39 158.89

3.71 5.64 16.75 1.00 18.59 160.89

-2.84% -2.28% 1.92% 3.66% -10.35% -27.30%

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.

MONDAY MAY 31, 2021 • T H I S D AY

MONDAY, ͻ͹˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

ECOWAS Suspends Mali until Return to Civil Rule Michael Olugbode in Abuja Mali has been suspended from the West African regional bloc, Economic Community of West Africa States (ECOWAS) until the current military dictators vacate office and the country returns to civil rule. The decision was announced yesterday after an emergency meeting of the sub-region's leaders in Accra, Ghana. Ghana's Foreign Affairs Minister, Shirley Ayorko Botchwey, told journalists that the Mali junta's nonadherence to the mediatory role of ECOWAS necessitated the decision of ECOWAS leaders to suspend the country. She added that the West

African leaders gave a few days’ ultimatum to the Colonel Assimi Goitta-led junta to restore a civilian to the post of prime minister, so that the transition agreed to following the ouster of the democratically-elected President Ibrahim Boubacar Keita last August, is followed up to its February 2022 terminal date. ECOWAS envoy, and former Nigerian President, Dr. Goodlluck Jonathan, had briefed the meeting behind closed-doors on his mediatory trips to Mali last week. The communiqué released after the meeting stated that an extraordinary summit was convened to review the prevailing socio-political crisis in Mali following the arrest, detention and

subsequent resignations of the president and the prime minister of the transition on May 26, as well as to determine the next line of action for the transition. The communiqué said after the presentation of the report by Jonathan, the heads of state expressed concerns about the crisis in Mali, which is coming half-way to the end of the agreed transition period, in the context of the security challenges related to incessant terrorist attacks and the COVID-19 pandemic, with its dire socio-economic impacts. The heads of state also demanded the immediate release of the former president and prime minister of the transition who are kept under house arrest.

They also condemned the recent coup, which they described as a violation of the decisions taken at the extraordinary summit held in Aburi, Ghana, on September 15, 2020 and a violation of the Transition Charter. The heads of state, after extensive discussions on the situation in Mali, reaffirmed the importance and necessity of respecting the democratic process for ascending to power, in conformity with the 2001 ECOWAS Protocol on Democracy and Good Governance. They condemned all actions that led to the ongoing instability in Mali and its attendant consequences in the region. They also demanded that a new inclusive government

TENSION IN SOUTH-EAST AS SEPARATIST AGITATORS FOLLOW BOKO HARAM’S TACTICS Anambra State over today’s command has called on the by the support we have Don't Hoist 'Biafra sit-at-home order. people to disregard the order, from the Anambra State Flag' in Delta, Police When THISDAY visited saying it is doing all it can Government, the citizens Warn IPOB Eke Awka market, a major to protect the people. and especially Ndi Anambra. market that serves the Anambra State capital and environs on Saturday, residents were seen making purchases of food items. Many residents were also seen yesterday at the same market in last-minute purchases. In most churches in the state, residents were advised to heed the order, if not for anything, for them to be safe. But the state police

Spokesperson of the command, Toochukwu Ikenga, a Deputy Superintendent of Police, told THISDAY that, “We are not deterred with the speculations but the command is concentrating on our mandate in protecting lives and property. Just like any other day is, we shall continue to maintain law and order. “We (are) also encouraged

We urge them to sustain it. Together we shall police our state effectively." In Owerri, the Imo State capital, the residents observed partial sit-at-home during the weekend due to the worsening insecurity in the state. The state police command had earlier warned IPOB fighters against disturbing the peace of the state.

Asaba, the Delta State capital, which shares boundary with Onitsha, the commercial city of Anambra State, was calm and peaceful yesterday. However, the Delta State Police Command has warned members of IPOB not to hoist the 'Biafran Flag’ in any part of the state. The command, while expressing its preparedness to maintain law and order,

should be formed to proceed with the transition programme, while reaffirming the need to respect the transition period of 18 months decided in Accra. "In this context, the date of February 27, 2022 already announced for the presidential election should be absolutely maintained. A monitoring mechanism will be put in place to this effect," the communiqué stated. The heads of state also reiterated the earlier decisions that the head of the transition, the vice-president and the prime minister of the transition should not, under any circumstances, be candidates in the forthcoming presidential election. They reaffirmed ECOWAS’ support to accompany the

transition process in Mali, and urged all international partners (the African Union, the United Nations, and the European Union) to continue to support Mali towards the successful implementation of the transition process. They, however, congratulated and encouraged the mediator to persevere with his mediation efforts and remain seized of the situation in Mali through the Local Monitoring Committee, while calling for the immediate implementation of all the decisions in conformity with the transition timetable defined. They also asked the mediator to return to Mali within a week to engage stakeholders on these decisions.

warned that its personnel would "deal ruthlessly" with any attempt by the IPOB or similar groups to cause trouble in any part of Delta State. A statement by the Delta Police Command spokesman, Bright Edafe, a Deputy Superintendent of Police, said the state Commissioner of Police, Mr. Ari Muhammed Ali, had ordered police personnel to be "on red alert" because of the IPOB's sit-at-home directive. "The command is aware of the threat of the proscribed

Indigenous people of Biafra (IPOB) and their intention of parading themselves in some parts of the state. "The Commissioner of Police Delta State, who is determined to maintain peace in the state, has urged officers and men of the state command to be on red alert, watchful, and deal decisively with the trouble makers. "The CP, therefore, warns that on no account should anybody be seen carrying or hoisting 'Biafra flag' in whatever guise in the state," it stated.

SMBLF, while condemning the federal government’s stance on the resolutions of Southern governors banning open grazing and restructuring, said cattle rearing remained a private business enterprise. "As such, the federal government should avoid committing state resources to promote any particular business, beyond providing the enabling environment in the

performance of its regulatory roles," the group said. The forum also extended its condolences to the families of the late Chief of Army Staff, Lt. General Ibrahim Attahiru, and 10 other military personnel who died in the military plane crash in Kaduna on May 21. It called on the military authorities to thoroughly investigate the incident to ascertain the actual cause of the crash.

M'BELT, SOUTHERN LEADERS RALLY SUPPORT FOR SOUTHERN PRESIDENCY statutory period of eight years by 2023, hence, the need for the office to return to the South in accordance with the country’s practice of rotational presidency. They also urged the federal government to urgently come up with proactive strategies to restore peace and security to all parts of the country. In a communiqué jointly signed at the end of the two-hour closed-door meeting

by SMBLF leaders, including its National Leader, Chief Edwin Clark; Afenifere Leader, Chief Ayo Adebanjo; President-General, Ohanaeze Ndigbo Worldwide, Prof. George Obiozor; National President, Middle Belt Forum, Dr. Pogu Bitrus and National Chairman, PANDEF, Senator Emmanuel Ibok Essien, the forum warned that the forthcoming general election may not take place if the

recurring issue of banditry is not checked. The leaders stated that if the security situation is not dealt with and banditry stopped or contained, it would not be feasible to have proper elections in 2023. The communiqué called on the federal government to heed the nationwide calls for a transparent national dialogue and take urgent steps towards restructuring and birthing a

new constitution, to bring back equitable harmony to the country. The forum added that it is imperative to immediately restructure the country, considering the precarious prevailing atmosphere, before any further elections. It reaffirmed its commitment to the unity of Nigeria, but stated that it must only be sustained on the principles of equity, fairness and justice.

CONSTITUTION REVIEW: NORTH-WEST, SOUTH-SOUTH, SOUTH-EAST INTENSIFY LOBBY FOR MORE STATES on our demand after the public presentation at the hearing,” the member, who craved anonymity, said. In his presentation to the committee on behalf of the people of Nsukka and Enugu State, former President General of the apex Igbo socio-cultural organisation, Ohanaeze Ndigbo, Chief John Nnia Nwodo, said the demand for the creation of Adada State had come a long way. Nwodo recalled how legislators in the South-east met in 2006 in Imo State to back the creation of Adada State. He said: "No demand is as old as the demand for the creation of an additional state for the people and this shows it can be recommended." He added that the demand is unique because federal and state lawmakers, chairmen of local governments and other citizens supported it. The leader of the Senate team and former Deputy Senate President, Senator Ike Ekweremadu, in his response, agreed with Nwodo that the creation of Adada State was long overdue. This fuelled speculations that three states – Anambra, Enugu and Ebonyi– may have resolved to back Adada State in

order to reduce the acrimony that had trailed the agitation for a long time. At Owerri, the second venue of the public hearing, the people of Aba also made a strong case for the creation of Aba State. A member of the Aba Mass Movement, promoters of Aba State, told THISDAY at the weekend that Ohanaeze Ndigbo was behind their agitations. “This is the only agitation that has the endorsement of Ohanaeze and we are hopeful that the august body will help us to lobby the legislators so that this will materialise for the benefit of Ndi Igbo,” the source said. During the public hearing at Owerri, Chief Theo Okire who represented Aba Mass Movement said an additional state should be created in the South-east, particularly from Abia State. According to him, if Aba State is created in the Southeast, it will address the feelings of marginalisation in the zone. Also, a section of the South-south is clamouring for the creation of at least four additional states. Of the four agitations, the three vocal ones are Anioma State, from present Delta State,

and Torogbene and Oil River States, from Bayelsa, Delta and Rivers States. They said the creation of the states would help "to correct the lopsided federal structure in the country." President of the Ijaw National Congress (INC), Prof. Ben Ogele Okaba, who described the 1999 Constitution as satanic and "the greatest injustice ever done to the Ijaw ethnic nationality" and the people of the region, told the committee that the region demanded additional four states to correct the imbalances because the constitution was allegedly skewed to shortchange the people of the oil-rich region. Prof. Sam Ukala, who represented Delta State, expressed similar views. Only the Edo State delegation, which included the Speaker, Edo State House of Assembly, Hon. Marcus Onobun, appeared silent on the demand for additional states. At the Kaduna venue of the public hearing for North-west, four groups demanded the creation of states. They included the umbrella body for the mainly Christian ethnic minorities in the southern part of Kaduna

State, the Southern Kaduna Peoples Union (SOKAPU), the Kaduna Development Elders Forum, the Movement for the Creation of Bayajida and the Kano Progressive Movement. President of SOKAPU, Mr. Jonathan Asake, revisited the age-long agitation for the creation of Gurara State from Kaduna State. Asake, in the group’s memo, said the creation of Gurara State would end the marginalisation of the Southern Kaduna people and the persistent ethno-religious conflicts in the state. He described Southern Kaduna as comprising 67 ethnic nationalities spread across 13 of the 23 local government areas of Kaduna State. He called for the amendment of Section 8 of the constitution, which according to him, “makes it almost an impossible task for the creation of a new state.” “We have been demanding a state of our own for over 30 years and Gurara State was among the 18 states proposed in the 2014 Confab Report. “We are demanding the creation of the Gurara State after the amendment. This will help in solving the incessant conflicts between

our people and the other divide,” he stated. Aligning itself with the demand of SOKAPU, the northern part of Kaduna State, under the aegis of Kaduna Development Elders Initiatives, whose memo was signed by all elected members from national, state and local levels, demanded the splitting of Kaduna State. Spokesman of the group, Alhaji Abdulkadir Ahmed, said: “We are canvassing the creation of New Kaduna State from the present Kaduna State and we want the Constitution of the Federal Republic of Nigeria amended to make this possible. “Kaduna South has been complaining of marginalisation ever since, even though chiefdoms have been given to them and they occupy 60 per cent of the workforce of Kaduna State. “Let the state be split and if they are asking for Gurara State, let them have it. “This will solve all the crises we have been having in this state.” A top official of SOKAPU told THISDAY at the weekend that all the stakeholders in Kaduna have agreed that the southern part of the state should have a state

of its own, adding that this unity and demonstration of solidarity will boost their cause. “We are speaking with one voice and this will make our case easier. We won’t rest; it did not end with the public hearing; we will pursue the cause to the last-minute,” he added. A group from Katsina State, known as Movement for the Creation of Bayajida, also demanded the creation of the state, to comprise communities from parts of Katsina, Jigawa and Zamfara States. The Secretary of the movement, Mr. Kabir Ado Daura, stated that the agitation for the creation of Bayajida State is out of the people’s growing desire in the three states to be merged together as they belong to the same religious and cultural backgrounds. Also, the Kano Progressives, in its submission, demanded the creation of another state out of Kano State. The group described Kano State as the most populated in the country with 44 local government areas, stressing that it needs to be split to bring rapid development to the people.

MONDAY MAY 31, 2021 ˾ T H I S D AY

NEWSXTRA

Hoodlums Set Ablaze Another INEC Office in Imo Chuks Okocha in Abuja The Independent National Electoral Commission (INEC) yesterday raised the alarm over the burning of its office in Njaba

Local Government Area of Imo State. The commission said so far, the total number of INEC offices attacked nationwide since 2019 has now risen to 42.

Canadian Returnee Kidnapped in Kwara, Kidnapers Demand N100m Ransom

Hammed Shittu in Ilorin

Five persons suspected to be kidnappers at the weekend abducted an Ilorin-born Canadian returnee, Mr. Murtala Adebayo, from his farm located at Pampo village in Asa Local Government Area of Kwara State. Already, the suspected kidnappers have demanded the sum of N100million as ransom from the family of Adebayo for his release. But, when contacted, the state Police Public Relations Officer (PPRO), Ajayi Okasanmi, who confirmed the development to THISDAY yesterday, on said: “We are working to ensure the kidnappers free of Adebayo.” He also called on the people of the state to support the police command in the area of information sharing so as to ensure the freedom of the

victim. An eye witness account, who sought anonymity, confirmed the ugly incident to journalists yesterday in Ilorin, stating that, Adebayo was kidnapped from his farm last Thursday. He said: “We were all at the farm, when suddenly we heard sporadic gunshots, and we all scampered for safety. “Some few minutes later, Adebayo was kidnapped and taken away.” Also, a family source, who sought anonymity, told THISDAY yesterday that the suspected abductors have contacted the family and made a demand of N100million in exchange for his release. He said: “They’ve called us more than four times asking us to ensure we get the money or he will not be returned alive, and we are doing everything humanly possible to secure his release.”

Buhari to Inaugurate Lagos-Ibadan Standard Gauge June 10 President Muhammadu Buhari will inaugurate the Lagos-Ibadan Standard Gauge project on June 10, the Minister of Information and Culture Lai Mohammed has said. Mohammed disclosed this yesterday during a joint inspection of the project with the Minister of Transportation, Mr. Rotimi Amaechi. Mohammed told journalists at the Wole Soyinka Station in Abeokuta, Ogun State capital that the inspection was to ensure that all the T’s are crossed and I’s dotted ahead of the inauguration. He said: “Tentatively, the LagosIbadan standard gauge would be commissioned on June 10. What the Honourable Minister is doing is to ensure that all the I’s are dotted and the T’s are crossed before June 10. “You can see right from Apapa to Agege, Papalanto to this place; you have seen us go down to engage the contractor to ensure that everything is in order because this is one of the flagships of this

administration - one of the landmark achievements of this administration. “Not only this is the first time we are having a dual standard gauge but you can see the passion by which the minister supervises the project.” The minister reiterated the commitment of the administration to improve the lives of the people through the railway modernisation projects across the country, which would significantly cut travel times and make travelling more comfortable. “There is nothing to deflect the attacks on this administration than by showing concrete evidence like this one that this administration is focused, is committed to delivering infrastructures to Nigeria. “With this railway project completed, we are cutting down the travel time between Lagos and Ibadan but more importantly we are creating jobs along the line and it is by far safer than travelling by road. So far we are satisfied with what we are seeing,” he stated.

Gulak’s Killing Barbaric, Says SGF Olawale Ajimotokan in Abuja The Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha, has described the killing of Ahmed Gulak as barbaric and unwarranted. In a statement issued yesterday, the SGF expressed deep shock over the killing of Gulak, an APC chieftain and an indigene of Adamawa State while on his way to Chief Sam Mbakwe

Airport, Owerri, Imo State, early yesterday morning. The SGF called for urgent investigation by appropriate security agency to unravel the motive of such gruesome murder. He expressed his condolences to the APC family, the government and people of Adamawa State, his family and also prays to God to grant the soul of the departed eternal rest.

In a statement issued by the INEC National Commissioner in charge of Publicity and Voter Education, Festus Okoye, the commission said Resident Electoral Commissioner (REC) for Imo State, Professor Francis Ezeonu, reported that INEC office in Njaba LGA was set ablaze on May 30, 2021. He further said although no

life was lost, the building was substantially burnt down along with electoral materials, office equipment and furniture. This latest incident has been reported to the police for investigation, Okoye said. According to him, “This attack is coming exactly a week after our office in Ahiazu Mbaise LGA of the state was vandalised on May

23, 2021. It is also the eighth INEC office to be attacked in Imo State since the 2019 general election. “The total number of INEC offices attacked nationwide since 2019 has now risen to 42. “INEC buildings, infrastructure and equipment are critical national assets that guarantee the continuity of electoral activities throughout the federation. Attacking these

offices is not in the national interest and it has the capacity of compromising electoral activities and the credibility of the democratic process,” Okoye stated. The commission had last week met with security chiefs, who pledged to ensure adequate security for the commission in its electoral activities.

CONGRATULATIONS…

L-R: Minister of Youth and Sports, Mr. Sunday Dare; Executive Director, Business Development, Nigerian Export-Import Bank (NEXIM), Hon. Stella Okotete; and the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, during the presentation of Royal African Young Leadership Award to Okotete at Ile-Ife, Osun State...weekend

Gunmen Kidnap Nasarawa Assembly Lawmaker Igbawase Ukumba in Laﬁa Gunmen last Saturday kidnapped a member of the Nasarawa State House of Assembly, representing Nasarawa Central state constituency, Hon Ismai Danbaba. This is even as the Nasarawa State Police Command yesterday said it has neutralised one suspected armed robber and also arrested a Benue State wanted cultist and serial killer in the state. Danbaba was kidnapped on his way to Jos, Plateau State, to attend a workshop for the Nasarawa

State legislators. The Chairman of the Nasarawa State House of Assembly Committee on Information, Hon. Mohammed Adamu Omadefu, who confirmed this development to THISDAY, said the abduction took place at a forest in Sanga Local Government Area of Kaduna State. He explained that the kidnapped member had passed Andaha town in Akwanga LGA of Nasarawa State heading to the forest area in Sanga, Kaduna State, when the kidnappers ambushed him and whisked him away.

Omadefu, who represents Keana state constituency ,told THISDAY that the kidnappers have made contact with the Assembly, but were yet to demand any ransom. Danbaba was elected into the Assembly last year on the platform of the All Progressives Congress (APC) through a byeelection to represent Nasarawa Central state constituency. Similarly, the state Police Command yesterday said it neutralised one suspected armed robber and arrested a wanted cultist and serial killer in the

state, Oodoo Moro. The command disclosed this in a statement signed by its Police Public Relations Officer (PPRO), ASP Ramhan Nansel, and issued to journalists in Lafia. According to the statement, “On May 30, 2021, at about 0210hrs, a distress call was received by personnel of Police Mobile Force of the Nasarawa State Command on special duty at Kadarko, Keana LGA, that armed robbers had blocked Lafia-Makurdi road and unsuspecting travellers are being dispossessed of their personal belongings.

Fresh Cholera Outbreak Claims Six in Plateau, 33 Others Hospitalised Seriki Adinoyi in Jos Fresh outbreak of Cholera has been reported in five local government areas in Plateau State-Jos South, Jos North, Riyom, Barkin Ladi and Bassa. An official of the state Ministry of Health said: “It is true; there is an outbreak of Cholera in the state.”

He added that about 33 cases have been discovered in the state, while six deaths have also been recorded, urging the residents to be very careful about their sources of water, fruits and other foods, and to report any incident to credible health facilities. “It is important that the people mind what they eat and drink, and should take their personal hygiene very seriously,”

he stated. Confirming the outbreak, the state Commissioner for Health, Dr. Nimkong Lar, tasked health workers to double their efforts to prevent further spread. He said the state has recorded some confirmed cases of the disease, and advised the public to be mindful of their sources of water and ensure that only water

from trusted sources is consumed. Lar also cautioned the public against indiscriminate eating of fruits and vegetables, saying such items must thoroughly be washed first. According to him, “the people should be health-conscious by ensuring that all fruits and vegetables are properly washed before eating.”

UNIABUJA Expels 46 Students over Acts of Misconduct Kuni Tyessi in Abuja The Senate of the University of Abuja has approved the expulsion of 46 students over alleged acts of misconduct and a breach of their pledge, taken during matriculation. According to a statement issued by the institution spokesperson, Dr. Habib Yaquob, yesterday, five other students were rusticated for one semester. He said the expelled students cut across several departments, and while 15 of the students were in their 400 level; 20 were in 300 level; eight in 200 level, and three

in 100 level. Yaquob added that the cases of three others involved in sundry offences would be retried, while seven accused persons were exonerated, discharged and acquitted. He said: “No fewer than 46 students of the University of Abuja have been expelled by the school Senate for their involvement in various acts of misconduct in breach of their sworn matriculation oath. “Five other students were rusticated for one semester, as the cases of three others involved in

sundry offences would be retried, while seven accused persons were exonerated, discharged and acquitted. “The Senate at its 175th regular meeting held on May 27, 2021, considered the report and recommendations of the Students Disciplinary Committee, and after due diligence, approved the expulsion, rustication, retrial and exoneration of the affected students. “The expelled students cut across several departments and levels in the school.

“The affected students have been directed to handover any university property in their possession, including identity card, to their heads of department and unit. They have also been advised to vacate the campus immediately.” The university authorities said they wishes to restate its unwavering determination to protect their values, and have strongly warned students to respect and uphold their matriculation oath as they would be held accountable whenever they breach it.

MONDAY MAY 31, 2021˾ T H I S D AY

NEWSXTRA

ACF Accuses Benue Indigenes, Livestock Guards of Rampant Killings John Shiklam in Kaduna The Arewa Consultative Forum (ACF) has condemned the rampant killings in Benue State, alleging that some indigenes of the state were responsible for the killings. The forum also attributed the killings in the state to the activities of the livestock guards, set up by the state government to enforce the band on open grazing. The livestock guard, according to the ACF, rustled cattle in the

name of violating the law without accounting for the cows when the owners showed up. In a statement issued yesterday, the spokesman of the forum, Mr. Emmanuel Yawe, expressed concern over the rampant loss of lives in the state “and the seeming attempts by the state government to twist the narrative for political reasons.” The forum also accused security agencies in the state of not giving accurate accounts of the security situation in state, “for

reasons that are difficult to see.” Yawe, said the ACF was worried about the number of reported cases of mass killings in the state. The statement noted that, the most recent and gruesome of the attacks was on Thursday last week in which about 40 people were murdered, while many people dislodged from their home at Shikaan village in Mbamena ward, Katsina Ala Local Government Area of the state.

APC Responsible for Bloodletting in Nigeria, PDP Alleges Chuks Okocha in Abuja The Peoples Democratic Party (PDP) yesterday accused the All Progressives Congress (APC) of being responsible for the escalated tension, indignation, violence, mass killing, kidnapping, terrorism and banditry ravaging various parts of the country. The PDP wondered how APC leaders could sleep at night with all the blood in their hands, as their lust for power, body language, divisiveness as well as vindictive policies of their administration have brought acrimony and resentment among citizens, while also encouraging

and emboldening acts of terrorists against Nigerians. In a statement issued by the National Publicity Secretary, Mr. Kola Ologbondiyan, the main opposition party said that Nigerians can recall that the PDP had earlier alerted that the APC had come to power with a Janjaweed agenda, to foist a reign of terror, balkanise, destabilise and raze down the country for their selfish gains. According to the PDP, “since APC assumed office in 2015, our nation has not known peace. At every turn and on daily basis, one is confronted with gory tales of killings, bloodbath, misery and destitution, with thousands of

compatriots killed and many more injured and displaced in various parts of the country. “From Kano to Cross River, Lagos to Borno, Kaduna to Imo, Kogi to Ebonyi and indeed all parts of the nation, the APC is erecting altars of violence and pushing life to Hobbes state of nature; short and brutish,” the PDP said. The PDP said that the APC has practically balkanised the nation along all fault lines with their, hateful, ruthless and vengeful actions, resulting in dissonances and pushing compatriots to take actions in anger, in some cases, leading to death and devastations.

MONDAY MAY 31, 2021, ˾ T H I S D AY

NEWSXTRA

Nigeria Sliding into a Failed State, Says Ishaku Wole Ayodele in Jalingo The Governor of Taraba State, Mr. Darius Ishaku, has raised an alarm that Nigeria is sliding very fast into a failed state. Ishaku raised the alarm in Jalingo on Saturday during an interactive session with journalists to mark his sixth year in office. He said that the increasing

spate of insecurity across the country and the inability of the military and other security agencies to address the situation were indications of anarchy. The governor described the inability of the Nigerian military to flush out insurgency, particularly in the North East of the country, as a national disgrace, Ishaku stated: “Nigeria is

sliding to a failed state, yes of cause Nigeria is sliding. “If Nigerian Army can go to other countries and flush out insurgencies, why not Nigeria, especially in the North-east?” he queried. He noted that all hands must be on deck for the country to overcome the current challenges by reviewing the country’s security architecture.

Gunmen Abduct TarabaVarsity Lecturer Wole Ayodele in Jalingo A Former Dean of Student Affairs of the Taraba State University, Jalingo, Dr. Buba Umar, has been abducted by gunmen. Umar was abducted from his residence in the University’s staff quarters at about 1.58 a.m. on yesterday and was taken through the bush path that bordered the institution and the College of

Agriculture. An eyewitness, who craved anonymity, told THISDAY that the assailants successfully abducted the former dean without firing any gunshot despite the presence of two policemen guarding the school’s guest house, which is a stone throw to his residence. Besides the two policemen, there were two personnel of the Nigeria Security and Civil Defence Corps

(NSCDC) guarding the staff quarters in addition to the University’s internal security staff. THISDAY gathered that the NSCDC’s personnel put up some form of resistance by shooting sporadically into the air and later sought the support of the policemen who declined to join them in confronting the gunmen on the grounds that they were in the school to guard only the guest house. At the boundary with the School of Agriculture, the gunmen were said to have shot sporadically ostensibly to ward off any attempt to apprehend them or rescue their victim. The university has witnessed series of robbery attacks and abductions in the past. The institution’s Deputy Registrar in charge of Public Relations and Protocol, Mr. Sanusi M. Sa’ad, was abducted from his residence in the school quarters in April 2019 and was released after spending six days in captivity.

He specifically stated that the constitution must be reviewed to create room for the establishment of state and local government police as it is practiced in USA where Nigeria copied its presidential system of government. “I’ve been in the forefront of the agitation for the creation of state police. America where Nigeria copied its system of

government from has federal, state and local police. The American Army is never involved in internal security as it is in Nigeria today,” Ishaku said. He reiterated that he would not hesitate to establish local government police in his state immediately the establishment of state police is ratified. The governor, however, maintained that he is not in

support of the establishment of regional security outfit for the North East region as was done in the South West and South Eastern regions. He also expressed happiness that the curve of insecurity in the state is dropping unlike it was in 2016, adding that his administration has done a lot to restore peace to troubled areas in the state.

15 CSOs Raise the Alarm over Nigeria’s Slide to Anarchy Seek release of 107 youths arrested in Owerri, halt to indiscriminate arrests Kingsley Nwezeh in Abuja A coalition of Civil Society Organisations (CSOs) has raised the alarm over the dangerous slide to anarchy in the country and government’s disconnection with the plight of the people. A statement that was issued by the coalition yesterday titled “Nigeria on the Brink; Nigerians Must Rally to Rescue It,” expressed serious concern about the country’s speedy slide into anarchy, government’s total disconnection from the people and its glaring incompetence in the face of ravaging insecurity that has enveloped the land. The statement, which was jointly signed by the Executive Director for Rule of Law and Advocacy Center (RULAAC),

Mr. Okechukwu Nwangwuma, African Centre for Media and Information Literacy (AFRICMIL), Mr. Chido Onuma, Centre for Community Empowerment and Poverty Eradication (CCEPE), Mr. Abdulrahman Akindele Ayuba, and Public Enlightenment Projects (PEP), Ms. Lilian Ezenwa, among others, said that terrorist groups, bandits and armed herders have taken over the land and enjoying a free reign in virtually every state as they kidnap, commit rape, attack communities, kill people and destroy farm lands without any serious opposition from government or its securities outfits. It listed challenges afflicting the nation, which included rising insecurity erosion of value system, economic mismanagement,

growing inequalities and inefficient public infrastructure. Others include poor conflict resolution, lack of mitigation strategies, violent repressive tactics by state security agents fueling an atmosphere of fear and human rights violations and abuses The group stated that “based on the Acting IGP’s reckless and dangerous utterances and directives to police officers to disregard the code of conduct and rules of engagement, we hereby convey our opposition to his confirmation as substantive IGP. “We call on the police council and the senate to muster the courage to decline the confirmation of Acting Inspector General of Police, Mr. Usman Alkali Baba as substantive IGP.

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South-east N’Assembly Caucus Condemns Attacks, Killings in the Zone Deji Elumoye in Abuja The South East Caucus in the National Assembly (NASS) has condemned the recent wanton attacks on police formations, courts, the Independent National Electoral Commission’s (INEC) offices as well as killings of individuals in the geo-political zone.

The caucus, in a press release that was signed yesterday by five senators and five House of Representatives members from the five states that make up the zone, tasked the Acting Inspector General of Police (Ac. IGP) Mr. Usman Alkali Baba, to properly investigate the killings and attacks with a view to bringing

the perpetrators to book. The release was issued by former Deputy President of the Senate, Senator Ike Ekweremadu (Enugu State); Senate Minority Leader, Senator Enyinnaya Abaribe (Abia State); Senator Sam Egwu (Ebonyi State); Senator Frank Ibezim (Imo State); Senator Stella Odua (Anambra State); Hon. Toby Okechukwu (Enugu State):

Hon. Nkiruka Onyejiocha (Abia State); Hon. Lynda Chuba Ikpeazu (Anambra State); Hon. Jerry Alagboso (Imo State) and Hon. Sylvester Ogbaga Ebonyi State. The caucus condemned in its totality the attack on the security personnel and their formations, particularly on the police, the INEC, courts and correctional facilities adding that it is unacceptable and

must never for whatever reason be condoned. The legislators, therefore, called on the IGP to dig deep in his investigations to unravel the actual identities of these unknown gunmen determined to create a state of anarchy in the South-east. “The investigation has become necessary in the circumstance because of the magnitude of the

attacks. Moreover, as the region had not witnessed such in the past. “We advise the security agencies to continue to show restraint in the discharge of its mission to restore peace in the South-east. Security operatives must remember, at all times, that the majority of Igbos is opposed to any form of violence in furtherance of any cause,” the caucus said.

Gulak: House Suspends Owerri Zonal Public Hearing on Constitution Review Udora Orizu in Abuja

The House of Representatives has suspended zonal public hearing on constitution review scheduled that was scheduled to hold tomorrow and Wednesday in Owerri for Imo and Abia States. The Chairman of the Special Committee and the Deputy Speaker of the House, Hon. Ahmed Idris Wase, said the suspension is until further notice. Even though the deputy speaker did not give any reason for the suspension of the public hearing, there were insinuations that the suspension was not

unconnected with the killing of former Presidential Adviser and Chieftain of the ruling All Progressives Congress (APC), Mr. Ahmed Gulak in Owerri yesterday’s morning. Wase said: ‘’The House of Representatives Special Committee on Constitution Review Zonal Public Hearing scheduled to take place in Owerri Centre (Imo and Abia States) on Tuesday, 1st and Wednesday, 2nd June, 2021, has been suspended until further notice. The Committee regrets any inconveniences this might cause our esteemed invited guests, stakeholders and the general public.’’

PDP Govs Congratulate Selves at SecondYear Anniversary Chuks Okocha in Abuja The state governors elected on the platform of the Peoples Democratic Party (PDP) yesterday congratulated themselves for a successful second year in office. The Chairman of the PDP Governors’ Forum, Aminu Waziri Tambawul, in a message issued by the Director-General of the Forum, Cyril Maduabum, congratulated all PDP governors on the anniversary of their ascension to office on May 29. Tambawul said the PDP governors have demonstrated through impactful projects, policies, programmes and populist measures in their various states on what good governance should be in Nigeria. The statement noted that the Governor of Abia State, Dr. Okezie Ikpeazu; Akwa

Ibom State, Emmanuel Udom; Delta State, Dr. Ifeanyi Okowa; Adamawa State, Umaru Fintri; Bauchi State, Bala Mohammed; Bayelsa State, Senator Diri Duoye, Benue State, Samuel Ortom; Edo State, Godwin Obaseki; Enugu State, Hon. Ifeanyi Ugwuanyi; Rivers State, Nyesom Wike; Taraba State, Darious Ishaku; Sokoto State, Tambuwal, and Zamfara State, Bello Matawalle, have all performed exceptionally well. According to it, “Your performance in office has laid the foundation for a democratic, people -centred, progressive, enlightened, patriotic, nationalistic, robust and problem-solving government at the centre in 2023 in a united, secure, educated, healthy, economically and technologically strong, and socially and politically stable Nigeria under God.

Masari MournsVictims of Kebbi Boat Mishap Francis Sardauna in Katsina Governor of Katsina State, Aminu Bello Masari, has described the Kebbi State fatal boat incident, in which over 150 people lost their lives, as a national tragedy. Masari, according to a statement issued by his Director-General Media, made the observation at the Government House, in Birnin Kebbi, Kbbi State, yesterday when he paid a condolence visit on his Kebbi State counterpart, Senator Abubakar Atiku Bagudu. The impact of the tragedy, according to the Katsina State governor, is not limited to Kebbi State, but across the country and beyond, in view of the fact that most of those who died were traders on their way to the market to sell and or buy goods.

He said tthe magnitude of the tragedy was such that thousands of Nigerians within and outside Kebbi State must be negatively affected in one way or another, as such, “there is the need for compatriots across the country to sympathise and condole with the government and people of the state as well as the immediate families of the deceased.” Masari prayed for Allah’s forgiveness for the deceased, and the courage and fortitude to bear the loss for the bereaved. In his response, Kebbi State Governor, Bagudu, while expressing appreciation to Masari for the condolence visit, said out of the 170 people suspected to be involved, only 25 were rescued, and 82 bodies were recovered and buried.

ALL EYES ON HIGHER RETURNS…

L-R: Chairperson, NASCON Allied Industries Plc, Yemisi Ayeni; Director, Olakunle Alake; Executive Director, Commercial, Fatima AlikoDangote, and Managing Director, Paul Farrer, at the NASCON Allied Industries Plc’s Annual General Meeting (AGM) in Lagos…weekend

Osodeke Succeeds Ogunyemi as New ASUU President Kuni Tyessi in Abuja The Academic Staff Union of Universities (ASUU) yesterday elected a new leadership led by Prof. Victor Emmanuel Osodeke, to pilot its affairs for the next two years. This was determined at the national delegates’ conference of

ASUU held in Awka, Anambra State. While Prof. Osodeke of the Michael Okpara University of Agriculture, Umudike, in Abia State was elected the president, Chris Piwuna, a consultant psychiatrist and Associate Professor in the College of Medicine, University of Jos, was

elected vice president. Others are Prof. Siji Sowande (Treasurer); Prof. Ade Adejumo (Financial Secretary); Dr. Austen Sado (Investment Secretary); Dr. Adamu Babayo (Internal Auditor), and Dr. Stella-Maris Okey (Welfare Secretary). While Osodeke was former vice president to Prof. Biodun

Ogunyemi, the outgone president, Piwuna, before his election, was the Internal Auditor of ASUU and its former chairman in UNIJOS. The executive council of ASUU would however spend a maximum of four years as enshrined in the union’s guidelines.

Kano Won’t Witness Banditry, Insurgency, Ethnic Clashes, Says Ganduje Ibrahim Shuaibu in Kano Governor of Kano State, Abdullahi Umar Ganduje, has declared that his state will not witness banditry, armed robbery and ethnic clashes. Speaking at a Town Hall meeting/presentations of progress reports on his sixth anniversary in power, held in Kano last Saturday, Ganduje said his administration would continue towards achieving lasting peace and stability in the

state. According to him, “As many ethnic groups found harbor in Kano State, that means the state has become a mini Nigeria,” pledging that his administration would continue to uphold the principle of “oneness of Nigeria.” “We promise that everybody is an indigene of Kano State. No discrimination, no segregation. In the state, we’re enjoying relative peace. It is peaceful. We will

continue towards sustaining this peace in a way that there will be no armed robbery, no ethnic clashes, no banditry or insurgency. “Nigeria is one and in Kano State, we will maintain this principle of oneness of Nigeria, because the state is a mini-Nigeria where everybody is recognised as an indigene,” he said. Speaking briefly after some of his commissioners presented their reports, Ganduje said his administration

has done “extremely well” in the development of education in the state, promising that his administration would continue with the free, compulsory basic and secondary education policy. He maintained that education in the state is free and compulsory from primary to secondary level, adding that the most important thing is the political will which has been demonstrated.

Amotekun Operatives to Patrol South-west Borders Chairman of Council of Amotekun Commanders in the South-west region, Chief Adetunji Adeyeye, has said operatives of the Amotekun corps will engage in inter-state border patrol in the South-west to ensure synergy in crime fighting. Adeyeye, who is the Corps Commander of Ondo Amotekun, said the synergy expected among the South-west states would be enhanced so

that a criminal that escaped from Ondo to Ekiti State could be easily apprehended Adeyeye, who spoke in Akure, said the destruction of farmlands by herders in Ondo State has greatly reduced owing to enforcement of the ban on open grazing. He said herders now offer money to farmers whose crops were destroyed unlike previously when they would

walk away. His words: “Being Chairman of the Council of Amotekun Commanders is a greater call to service. The Commanders of the various states in the Southwest region met to deliberate on the way forward and they picked me as the Chairman. “A fallout of the meeting is that we agreed on inter border patrol of major highway and all the routes in our

various states. We intend to reduce armed robbery and kidnappings on highway. “We noticed kidnappings take place on bad spots on the road where motorists are expected to slow down. “We are to enforce the ban on open grazing. We apprehend herders on a daily basis. There is reduction in the destruction of farmlands by herders in Ondo State.

Blueprint Newspapers Holds 10th Anniversary Blueprint Newspapers Limited has announced Thursday, June 3, 2021 as the date for its annual lecture and Impact Series/Awards ceremony scheduled to hold in Abuja. The lecture and award ceremony, according to a statement issued by

the Chief Operating Officer (COO) of the company, Malam Salisu Umar, is part of activities lined up to mark the 10th anniversary of the newspaper group. Blueprint debuted on May 2, 2011 as a weekly publication and progressed to a daily production

four months later. The company later added Blueprint Weekend and Manhaja, a weekly Hausa tabloid, at different times. Listed for the awards at the event are former President Goodluck Ebele Jonathan, state governors,

ministers and some heads of government agencies who have proved their worth in specific areas of governance such as education, urban renewal and rural infrastructure and the ease of doing business, among others.

MONDAY MAY 31, 2021 ˾ T H I S D AY

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119 Passengers from High-risk Countries Refuse Isolation, Lagos Alleges Segun James The Lagos State Commissioner for Health, Prof. Akin Abayomi, has raised the alarm that 119 passengers from high-risk countries

have refused to be isolated after coming back into the country. In a statement he issued yesterday, the commissioner appealed to the families of those who refused to be isolated to

New Salt Refinery to Boost NASCON Allied Industries’ Revenue, as Firm Pays N1.06bn Dividend The NASCON Allied Industries Plc ended the 2020 financial year on a positive note based on the expected revenue increase from its new state-of-art salt refinery. Rising from its 2020 Annual General Meeting that was held at the Civic Centre in Lagos during the weekend, the company announced an improved turnover of N28.01 billion, which represented two per cent increase from the 2019 performance of N27.49 billion despite the economic headwinds generated by the COVID-19 pandemic. Its 2020 Annual Report with the theme ‘Protecting Our Core’ showed that NASCON recorded N2.69bn in Profit After Tax (PAT), for the financial year ended on December 31, 2020. It also recorded a 46 per cent increase for the year, compared to N1.85billion in 2019. Earnings per share also increased to N1.02

in 2020 compared to N0.70 in 2019. The Board of NASCON Allied Industries, at the meeting convened by the Chairperson, Mrs. ‘Yemisi Ayeni, also recommended a dividend payment of N0.40 per 50 kobo share, totalling N1.06bn, which was put to vote and passed by the shareholders and proxies. The chairperson noted that “during 2020, many manufacturing businesses faced numerous challenges associated with COVID-19 and the resulting economic downturn. While I strongly believe that these are short to medium term, we have taken decisive measures to ensure stakeholder expectations are continually satisfied. We are confident that our business model will enable us to successfully navigate global changes while seizing opportunities to continually create value for our stakeholders.

South-west Safest Part of Nigeria, Says Shehu Senior Special Assistant to the President on Media and Publicity, Mallam Garba Shehu, yesterday disclosed that the South-west geopolitical zone is the safest part of the country. Shehu, who spoke while featuring on Channels Television’s ‘Sunday Politics’ programme, also said Nigeria is now safer than it was in 2015 when his principal, President Muhammadu Buhari took over power, noting that “Boko Haram is now on the fringes of Lake Chad”. Responding to a question, the presidential aide said, “As far as Boko Haram terrorism is concerned, Nigeria is a safer place today than it was when we took over power. “New challenges have come up, farmers-herders clashes, killings in the central sections of the country, much of these have

been subdued. The problem of sabotage of oil installations in the South-South has been managed up to this point. “Challenges of banditry, kidnappings have arisen in so many parts of the country, including the South-west. “Today, South-West is perhaps the safest part of this country. “The challenges are epicentred around parts of Kebbi, Sokoto, Zamfara, Katsina and Kaduna States. Much of it (insecurity) has been rid of in Kaduna. Katsina is a lot safer today than it was two years. Zamfara is dealing with problems –kinetic and non-kinetic. “The point is that the problems as they arise are being confronted head-on by the competent administration of a military that is loyal, a police (force) that is loyal, intelligence agencies that are efficient.”

HealthPlus Partners Skin Specialist on Services HealthPlus Group company, CasaBella has partnered BARE, a specialist skin care tech platform, to provide innovative solutions for quality skin care, particularly for black men and women, through virtual consultations and accurate product matching to skin type and conditions. Together, CasaBella and BARE will enable seamless analysis and diagnosis of skin conditions. The partnership will focus on providing unrivalled service by leveraging Artificial Intelligence and Virtual Consultations in order to provide truly personalized skin care. Chief Transformation Officer of HealthPlus Group, Chidi Okoro

said, ‘We will build customised profiles to help our beauty advisors accurately navigate skin types, products, and plans for any skin condition. This service will help customers take better care of their skin in a scientific and pocket-friendly manner’. CEO of BARE, AbimbolaKofoworola Oladeji said, “I am excited about this opportunity to provide our customers with the right skincare solutions quickly and at competitive prices. The recommendation and fulfillment service will kick off in Lagos, but we look forward to increasing capacity across the country, in a short period of time.”

return them for testing. He said, “Since the commencement of the new guidelines and the ban on nonNigerians travelling from three countries (India, Brazil and Turkey) into Nigeria, Lagos State has recorded 568 in-bound passengers, who have been permitted to enter Nigeria from these three countries. We have isolated 433 passengers in our various accredited hotels and facilities; 262 are in isolation and 154 passengers have been

discharged with a negative COVID-19 test. Nine have tested positive to COVID-19 and successfully isolated to prevent community transmission. Of the remaining 135 passengers, 119 have refused isolation and 16 are unaccounted for. “The families of those that have refused to be isolated should appeal to their loved ones to return for testing and isolation.” The Commissioner added that all passengers that had been

confirmed absconders would have their passports deactivated for a minimum of one year if Nigerian; and if foreign, would have their resident permits cancelled and deported as stated by the Presidential Steering Committee on COVID-19. Abayomi also disclosed the state government’s intention to partner the private sector and Federal Government in ramping up vaccination in the state. “On May 28, 2021, we

commenced the administration of the second dose of the OxfordAstraZeneca COVID vaccine. Given the requirement for achieving herd immunity, Lagos State still needs to vaccinate about 14 million people to reach this target. “Therefore, the government is considering several channels, including discussions with the Federal Government and the private sector, to ramp up the vaccination numbers,” he explained.

RECOGNITION OF EXCELLENCE…

L-R: Former President, Pharmaceutical Society of Nigeria (PSN), Mr. Olumide Akintayo; Chairman of the occasion, Mr. Clifford Esomonu; Chairman, PSN, Lagos State Branch, Mr. Gbolagade Iyiola; and the President, PSN, Mazi Sam Ohuabunwa, at the PSN 2021 Annual Luncheon and Investiture of Merit Award Winners and fund raising, at Ikeja in Lagos…weekend SUNDAY ADIGUN

Fire RazesVehicle Spare Parts’ Shops in Lagos Market Peter Uzoho A storey building, containing shops of motor spare parts was yesterday gutted by fire at the Alapeju section of the Ladipo Market, Mushin, Lagos State. However, no casualty was recorded as emergency responders prevented the fire from spreading to adjoining buildings.

Confirming the incident on its Twitter handle, @lagosrescue, the Lagos State Fire and Rescue Services tweeted, “We are currently attending to Fire emergency at spare parts sales line, Alapeju section of Ladipo Market, Mushin-Lagos, after quelling a residential fire at 36, Abeokuta Expressway, Cement, Dopemu, Lagos.”

Commenting on the incident, the Director-General, Lagos State Emergency Management Agency, Olufemi Oke-Osanyintolu, narrated how the fire was curtailed. “Upon arrival at the scene, agency responders discovered that a single storey building used for commercial purposes/ sale of motor parts was engulfed in flames.

“The cause of the inferno has not been determined yet. A combined team comprising of the LRT, LRU fire, Lagos State and federal fire services have made efforts to subdue the inferno and prevent it from spreading to the surrounding buildings. “It has been curtailed and damping down is now ongoing.”

Cyber Market is Nigeria’s Immediate Future Beyond Oil, Says Olawepo-Hashim Iyobosa Uwugiaren and Chuks Okocha in Abuja Global energy executive and former presidential candidate in 2019, Mr.Gbenga Olawepo-Hashim, has stressed the importance of cyber security in the Nigeria’s competitive cyber market, insisting that the country could play a more strategic

role in the cyber space within the next 10 years. In a keynote address he delivered during a book launch titled: ‘Nigeria: Cyberpower and National Security’, written by Professor Dare Ogunlana of the University of Texas, United States of America, at the weekend, Olawepo-Hashim said the book would not have come at a better

time than now, as Nigeria faces multifarious problems of insecurity. According to him, “I am delighted to present the keynote address at the presentation of this very important book titled: ‘Nigeria: Cyberpower and National Security’. “Nigeria may have quietly emerged as a cyber-power unsung, unknown and unnoticed by many.”

He explained that the country is now home to the sixth largest users of the internet in the world. The energy executive said: “According to some verified data from the Nigerian Communication Commission (NCC), Nigeria internet users rose to 104.4million in 2021. 19million users were added between 2020 and 2021 alone.”

Dangote Cement Increases Capacity, Promises More Supply The Dangote Cement Plc has announced that it has deeply invested in enlightening consumers on the different applications and the best optimal use of the product in furtherance to the measures put in place for more supply of cement to the market. The Group Sales Marketing

Director, Dangote Cement, Rabiu Umar, stated this at an interactive session with ‘Building and Industry Professionals’ in Kano at the weekend. He said prices of Dangote cement have not increased at factory level, but the forces of demand and supply are driving the prices up.

Umar assured Nigerians that appropriate measures have been taken and in about 90 days from now, more products would be pushed into the market to make the prices bearable for consumers. “Significantly, new lines have been created to increase supply and impact the market favorably-

by churning 15,000 tons per day or averagely 450,000 tons per month resulting from the Gboko cement back to operation process. “The new Obajana line awaiting start up is also for additional capacity, as well as the Okpella cement that will soon commence operation.

NEITI, DPR to Collaborate on Contract Transparency, Beneficial Ownership EmmanuelAddehinAbuja The Nigeria Extractive Industries Transparency Initiative (NEITI) and the Department of Petroleum Resources (DPR) have agreed to work together to deepen Nigeria’s implementation of contract transparency and beneficial

ownership disclosures in the country. NEITI said the commitments will enable Nigeria to meet the compliance standards required in the implementation of beneficial ownership disclosure, contract transparency, environmental reporting, gender mainstreaming and the

implementation of recommendations in the its audit reports as it concerns the DPR. Thetwoagenciesmadethecommitment in Lagos at a strategic meeting between the Executive Secretary of NEITI, Dr. Orji OgbonnayaOrji,andthemanagementof the DPR led by the Director of the

agency, Mr. Sarki Auwalu. Astatement inAbuja by the Head, Communications and Advocacy, NEITI, Mrs Obiageli Onuorah, yesterday quoted Orji as describing the meeting as productive and encouraging in building inter-agency confidence and trust.

MONDAY, ͻ͹˜ ͺ͸ͺ͸ ˾ THISDAY

NEWS

NDLEA Arrests 10 Suspected Online Drug Traffickers, Seizes 11 Motorcycles Michael Olugbode in Abuja The National Drug Law Enforcement Agency (NDLEA) has arrested 10 suspected online drug traffickers with 107 kilogrammes of cocaine in Abuja. This is coming as the Chairman of NDLEA, Brig. Gen. Buba Marwa (rtd) has ordered a stop-and-search of dispatch motorcycles around the nation’s capital. In a statement issued yesterday by the NDLEA spokesman, Mr. Femi Babafemi, the agency said the arrest followed fresh raids in the nation’s capital, adding that a young lady and her boyfriend as well as eight others were apprehended, while assorted drugs were recovered from them. The first suspect, 28-yearold Ese Patrick, said to be

selling her illicit substances through Instagram account; Ese’sOvenSecret, was tracked and arrested with some pieces of brownies ordered online by NDLEA’s undercover agents, on May 2 and delivered by herself and her boyfriend in a Mercedes Benz car. “A follow-up operation at her residence led to the seizure of 400 grammes of Arizona weed, which she uses in baking the brownies,” the statement partly read. “Further investigation led to the arrest of one Iyama Patrick, with 450 grammes of Arizona weed. He supplies Ese the cannabis she uses.” Similarly, a motorcycle belonging to a courier company, Sky Port was abandoned by a despatch rider in Wuse Zone 4 upon sighting NDLEA’s outpost in the area.

According to the NDLEA spokesman, the motorcycle was later found to contain several pinches of cocaine and some envelopes of Arizona meant for delivery. In another raid, an online drug trafficker, Peter Nkejika was nabbed on May 24 following an arrest of a dispatch rider with some quantity of Loud, a highly psychoactive variant of cannabis. Each portion of Loud costs N30, 000 and the rider was caught with 17 portions for delivery. NDLEA operatives had also on Tuesday intercepted two online drug transactions and arrested two dispatch riders with some quantities of cocaine and Loud already packaged for delivery recovered from them. In all, five dispatch riders and a lady, Dolapo Benjamin

who owns motorcycles involved in door-to-door distribution of drugs and drug based edibles; cakes and brownies were arrested while six dispatch motorcycles involved in door-to-door drug distribution were seized. Also seized from them were assorted drugs; Cocaine, Crack /Challie, Molly/ Ecstasy, Skunk, Brownies and Loud, which is the most expensive psychoactive variant of cannabis in town. “In a related development, on the 27th May 2021, operatives intercepted 30 compressed parcels of cannabis, heading to Ningi, Bauchi state, as well as Rohypnol and Tramadol meant for the FCT,” the statement added. “The drugs weighing 105.5 kilogrammes were seized along Gwagwalada- Abuja

road, in a luxury bus. Three persons were arrested in connection with the exhibits, while two more dispatch motorcycles were seized with some quantities of cocaine and cannabis on Saturday, May 29 as the raids across the FCT intensify. “Meanwhile, operatives of the Directorate of Operations and General Investigations (DOGI) of the agency have intercepted 445 grammes of Methamphetamine going to New Zealand and concealed inside USB chargers and hair attachments, with another 450 grammes of cannabis sativa going to UAE and concealed inside local soap containers at a courier company in Lagos. “In the same vein, 125 grammes of heroin concealed inside academic thesis books was seized at another firm while 2kg of cannabis sativa

hidden inside tractor’s balloon was intercepted at another courier company also in Lagos.” While reacting to the arrests, NDLEA Chairman/ Chief Executive, Brig. General Mohamed Buba Marwa (rtd) directed the FCT Command of the Agency to immediately embark on stop-and-search of commercial dispatch riders across the nation’s capital city to curb the online drug trafficking trend in the FCT. He also commended the FCT Commander of the agency, Mohammed Malami Sokoto, his officers and men for the recent successes and sustaining the offensive against the latest trend in illicit drug trafficking in the nation’s seat of power. The NDLEA boss also praised officers and men of DOGI for their vigilance and commitment to work.

FAILURE OF INTELLIGENCE? NOT QUITE called for a review of the national security architecture. But what do they, individually and collectively, mean by the term? They are all now aboard the ferry boat of those repeating what they have heard others say, on the mistaken assumption that they are thereby contributing to national discourse and helping proffer solutions to a serious national problem. The bubble goes burst when you ask any one what he understands, or means, by “security architecture.” This includes governors, some of whom are actually remiss in the simple matter of holding regular security meetings. It does not occur to them that the Security Architecture of a nation refers to the network of policies, institutions, personnel, activities and processes that work together to secure and safeguard good governance and the environment. This includes, and primarily revolves around, everything put in place to ensure a stable polity - including traditional rulers and local government chairmen. A nation’s security architecture is not just the police, the military, the intelligence services and paramilitary organisations. These agencies have their statutory functions and also leverage each other’s capacities and work in concert. But the security architecture encompasses whatever is done, or left undone, by the state to ensure that there are no breaches that could impact negatively on the safety of life and property of citizens is involved. That is why “food security” is a key issue in all international conversations about national security today. Defence, and strategies for Defence in times of war, is not security architecture. Several stories emerged concerning the initial shooting expedition around Owerri, which reportedly lasted for hours unchallenged. Because a nearby military formation was accused of complicity, being that it did not intervene while it all lasted, the rumour gained currency that the shooting was all orchestrated from Abuja. When I personally contacted the late Chief of Army Staff, Lt. Gen. Ibrahim Attahiru on the matter, and he agreed to a no-holds-barred meeting in his office, I was sure the truth would come out. He was forthright in his answers and explained how and why the defaulting officer was swiftly removed within hours of the incident and investigated; up to the point of being issued with a Letter of Displeasure by the High command. A still mildly enraged Attahiru said during our meeting: “How can anyone allow such a thing to even start, not to think of it

Yusuf Magaji Bichi , DSS DG going on for hours, on the professionally shameful claim that his perimeter was not under threat? The reason you are there in the first place is to protect the civilian population and maintain law and order, for goodness sake!” Attahiru’s assertions rang true in every way, but I still sought and obtained further confirmation. Yes, everything he said was true. The steps taken with regard to the officer in particular went even much further than what he told me in his office. That raised a problem he also expressed concern about, namely, that we should be worried

about something dangerous going on in the South-east and all over the country and which may claim a lot of lives if state governors and local communities do not show greater seriousness in security matters - and in their own survival. It is confirmed that the governor of Imo State, for instance, got ample intelligence reports before the first shooting incident. Stakeholders were also alerted and briefed by security agencies that members of IPOB had concluded plans to attack offices of the INEC in Akwa-Ibom, Enugu, Imo and Abia states. The Intel included such details as the fact that it

should be expected between late hours of May 14 and the early hours of May 15, 2021. The attack was said to be in continuation of series of steps evolved by IPOB to ensure electoral activities would not take place in the “Old Eastern Region.” Details of other locations targeted for various forms of disruptive activities included Igbanke, Auchi, Ibillo, Ekpoma, Uruekpe, Uromi, Ubiaja, Okpella, Ewohim, among others. It is also on record that the Abia State Government confirmed that it uncovered plots by yet to be identified hoodlums to carry out an attack in the state. So, we are not talking about failure of intelligence as such. Failure to act (and/or act decisively in the right way and to the right degree) based on available intelligence is the issue. Is it true that the recent wave of violent attacks on security buildings and personnel in the South East and parts of the South-south is show that it is not? IPOB recently accused the South-east governors, Ohanaeze Ndigbo and some traditional rulers in the zone of compiling the names of those they perceive as dissidents for arrest and incarceration by the federal government. True or not, this narrative has created division and mistrust. Public perception of the Igbo political leadership as saboteurs is growing among a growing population that has no capacity for strategic engagement at the leadership level. The attacks targeting security facilities and personnel in places like Rivers, Akwa Ibom and Cross River States, especially in the Bakassi area, suggest a deliberate ploy to ensure untrammeled access to the southern part of Cameroon – and to the sea. Has the same thing not been happening in 5he north, for years now? The question of what we actually do with the Intel provided by the nation’s intelligence services remains unaddressed. There was ample intelligence before the kidnap of the Chibok girls. The recent events in Niger State, and in many other states of the federation, have not been purely due to lack of intelligence. We were getting “repentant” Boko Haram members for years, but we got no indication of where to find Shekau, their leader. We cannot keep calling for peace without admitting that the IPOB narrative, like the narrative of radicalization in the north, finds resonance with a deprived population. The talk about “failure of intelligence” is now threadbare, even as our military and paramilitary agencies are yet to be equipped and primed to perform optimally. The lives of committed officers and men matter.

PULLING NIGERIA OUT OF THE CORRUPTION HOLE strong. When that hole yawned open when I was 13, we stood at around 80-million. Today, we have more than 200-million people mired down there, and in 30 years’ time there will be over 400-million in number. Would that not be the very definition of Hell? These are the things I dwell upon, the fears that I have for my beloved Nigeria.

But then, I look to the examples of other countries that have climbed out of their own holes of poor performance and, instead of basket cases, have become success stories: countries such as Malaysia, Indonesia and China. Surely, if they can, we can, too? That is the story that I want for my nation. I certainly don’t presume to have

all the answers – indeed, I might not have many – but I have resolved to employ the resources I have (financial and otherwise) to do my utmost to change Nigeria’s sad narrative. It’s an investment in a brighter future for my country and all who live in it – and it’s certainly well worth making.

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MONDAY MAY 31, 2021 ˾ THISDAY

MONDAYSPORTS

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

Ese Brume Ends Ajunwa’s 25-year Reign as African Long Jump Record Holder Duro Ikhazuagbe

Ese Brume yesterday erased Chioma Ajunwa’s African Women’s Long Jump record set in winning the event’s gold medal at the Atlanta 1996 Olympic Games. The Delta-born athlete who was barely eight months old baby back in 1996 when Ajunwa conjured that feat to win Nigeria’s first and only individual Olympic gold medal, early hours of yesterday at the Chula Vista Field Festival in the city of

Chula Vista, Southern California, replaced the flying policewoman’s 7.12m with a new 7.17m African record. With less than 60 days to the start of the Tokyo 2020 Olympic Games, global focus has now shifted to Brume as sure candidate for podium placement in Japan. Her 7.17m has moved her to become the world leader in the event and world all-time listing at 22nd. Ajunwa is 32nd with Brume’s mentor, Blessing Okagbare 70th. After Ajunwa’s

gold feat in Atlanta, Okagbare followed up with a bronze at the Beijing Games 2008. That bronze was nine years later upgraded to a silver after the International Olympic Committee (IOC) stripped Russia’s Tatiana Lebedeva of the silver medal in the women’s

Long Jump event for dope infraction. Prior to the meeting in Southern California early hours of Sunday, Brume did not serve any notice of another 7m+ jump so soon after becoming the third Nigerian woman to hit the magical 7m mark in August 2019 in Bursa,

Turkey as four days earlier at the USTAF Invitational meeting in Prairie View, Texas, she leapt to a 6.61m personal season’s best in the event. With gold medals from Commonwealth Games (Glasgow 2014), All Africa Games (Morocco 2019) and

African Championships, bronze at the last World Athletics Championships (Doha 2019) and a fifth place finish at the last Olympic Games in Rio de Janeiro, Brazil, Brume appears set to emulate Ajunwa as the countdown to Tokyo 2020 begins.

Chelsea Old Boy, Mikel, Celebrates Latest UCL Triumph John Obi Mikel has joined in congratulating his former club Chelsea for winning the 2020/2021 UEFA Champions League. Chelsea stopped fellow Premier League rivals Manchester City 1-0 in Porto Saturday night to record their second Champions League triumph. Mikel was an integral part of ‘The Blues’ when they first won Europe’s foremost club competition in the 2011/2012 season. “Well done boys. We are the blues,” he congratulated the latest European champions on his Instagram page yesterday. Several Nigerian celebrities like music stars Peter and Paul Okoye, once of the P-Square fame, also joined in the Chelsea victory party as fans of the London club. One of the Okoye twins swore at rival fans after last night’s victory on Twitter as part of his own celebration. Chelsea won the Champions League for the second time with a fully deserved victory over Manchester City in an all-Premier League confrontation in Porto. Thomas Tuchel got the better of his Manchester City counterpart Pep

Ese Brume...erases Chioma Ajunwa’s African long jump record John Obi Mikel...celebrates The Blues second Champions League win

Guardiola for the third time since succeeding sacked Frank Lampard in January to bring European club football’s biggest prize back to Stamford Bridge for the first time since 2012. Kai Havertz, blossoming after a slow start to his Chelsea career, got the winner three minutes before half-time when he collected a defence-splitting pass from Mason Mount to round City goalkeeper Ederson and score. It leaves City still searching for the Champions League, the trophy that has always eluded them, and Guardiola cannot escape scrutiny for his part in this defeat after taking a tactical gamble which backfired.

Imeh, Oyinlomo Retain CBN Senior Tennis Championships Titles The defending champion of the men’s singles title of the Central Bank of Nigeria Senior Tennis Open Tournament, Imeh Joseph, over the weekend survived an early scare to come from a set down to beat hard-fighting Oparaoji Uche, 3-6, 7-6, 6-4 to retain the title he won last year. Imeh’s triumph in the final of the 43rd edition of the championship decided at the Package ‘B’ of the Moshood Abiola Stadium in Abuja last Saturday, was the talking points of tennis circles at the weekend. He carted home the giant trophy plus the N1million star

L-R: Head of Marketing MultiChoice Nigeria, Tope Osunkeye; Executive Head of Corporate Affairs, MultiChoice Nigeria, Caroline Oghuma; Chief Customer Officer, MultiChoice Nigeria, Martin Mabutho; Public Relations Manager, GOtv Nigeria, Jennifer Ukoh; and Senior Marketing Manager, MultiChoice Nigeria, Adetunji Beyioku, at the Euro 2020 Media Briefing in Lagos... last Saturday

and Adeusi Jesutoyosi to make it a double victory. The men’s doubles title went to the duo of Adehi Oche and Musa Mohammed who forced the pair of Abamu Matthew and Michael Chima to retire at 5-0in the first set. In the wheelchair category, Alex Adewale defeated Wasiu Yusuf 6-3 7-5 to win the men’s singles title while Nwaozuzu Chituru came from a set down to dispatch Khafayat Omisore, 2-6, 6-4, 7-6. Declaring the championship closed, the Governor of Central Bank of Nigeria, Mr. Godwin

Emefiele, who was represented by the Ag Director, Corporate Communications of the apex financial institution, Mr. Osita Nwanisobi, charged Nigerian youths to shun violence and make good use of the oppportunities provided by the CBN to keep themselves actively engaged in useful ventures including sporting activities. He promised the continuous sponsorship of the annual CBN Junior, Senior and wheelchair championship and assured sports stakeholders that the 43rd edition will not be the last.

Nigeria Invites 60 Players for Africa Mini-football Nations Cup Olawale Ajimotokanin Abuja

All SET FOR EURO 2020...

prize at stake. In the women’s singles final, 2019 and 2020 back-to-back reigning champion, Oyinlomo Quadri, wasted no time in dispatching America-based little Marylove Edwards, 6-1, 6-0 to retain her crown and win the giant trophy for keeps. Besides the giant trophy, the junior tennis sensation, Oyinlomo Quadri, was also rewarded with N1million as the women’s singles star prize. She also paired Asogba Toyin to lift the women’s doubles title following their 6-1, 6-0 victory over the duo of Salami Khadijat

The Nigeria Mini-football Association will today at the Ilaji Sports Resorts, Ibadan commence the screening of 60 players invited for the second edition of the Africa Mini-football Cup of Nations billed to commence in July. The screening exercise out of which the 20 players that will represent the country will be selected, according to NMA Organising Secretary, David Adewoye, will end on June 6, 2021.

The invited players are expected to report to the Ilaji camp with their training kits. “The successful players would be groomed to represent the country at the Africa Cup of Nations, which we are hosting from July 8to 17 at the Ilaji Sports Resorts. The facilities for the hosting have been given pass mark after the inspection tour by the visiting Africa Mini-football Confederation officials”, Adewoye said. He noted that the delegation from the Africa

Mini-football Confederation found every facility made available for the competition suitable for the hosting of the second edition of African Mini-football Cup of Nations. Adewoye also stated that the selected 20 players would constitute the country’s standing team for future engagements. “After the Nation’s Cup, we would be engaged in friendly matches; especially with the North African countries where league

matches are already existing. Soon after the tournament, the discussion about starting the league in the country would be on the table. “We will aspire to be a force to be reckoned with in the continent. Since without any knowledge about the game, we went to Libya for the maiden edition in 2018 and finished in the fifth position out of nine countries that participated, that speaks a volume of our team,” the secretary concluded.

Monday May 31, 2021

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Tompolo to FG “I wish to call on Mr. President, members of the National Assembly and security agencies to work towards the constitution of the substantive board of the NDDC within a few days to avert a total breakdown of law and order that will equally aﬀect crude oil exploration.” – Former Niger Delta warlord Government Ekpemupolo, alias Tompolo, issuing ultimatum on board NDDC inauguration.

OKEYIKECHUKWU

EDIFYING ELUCIDATIONS

okey.ikechukwu@thisdaylive.com

Failure of Intelligence? Not Quite

et us suppose that the Department of State Services (DSS), or the Defence Intelligence Agency (DIA), for instance, uncovers plans by some individuals to commit a crime against the Nigerian State; like smuggling one million guns into the country. The spook agency will share such Intel with the relevant sister agencies, for them to play their statutory roles. It is then for the sister agencies to swing into action with the intelligence provided, lay ambush where necessary and apprehend the criminals concerned. But some of the sister military, security and paramilitary agencies may find themselves unable to act. This may be because of lack of equipment/personnel or logistics, or even other operational challenges; including some personnel of the agency(ies) working out an “accommodation plan” with the criminals, which may not serve the national interest. The problem would then not be “failure of intelligence;” but failure (or inability) to act on intelligence. As observed on this page on February 8, 2021, with the title ‘To Help the New Service Chiefs’ “If you give a man a job, you must also give him the tools and enabling

environment to perform the job. It is only then that you can reasonably demand, and expect, good results. An expert without tools, and who also does not have the enabling environment to perform, will only have his hard-earned reputation ruined. Thus, when an expert is given a task he would have ordinarily performed very well, but is not given what he needs for the job, he will achieve nothing commendable. Also, for an expert to succeed, whatever he needs must be given to him on time, in the right measure and to the degree required. For instance, the most brilliant and experienced car mechanic or Maintenance Officer will not be able to change a single spark plug in a car if you just announce his appointment, read out his resume and then send him into the workshop without a tool kit. He will be a disaster. The same thing will happen if you send a great war general to the battlefield with nothing but his reputation as a great war general. Modern warfare is not traditional wrestling.” This singular fact is often lost on many people who express rather strong views on national security issues these days. We have more than ample reports of political office holders describing failure to use available

intelligence wrongly. And since no security agency that finds its offerings not being properly utilized by other arms of the nation’s security architecture can go public on the matter, we are muddying national discourse by uninformed commentary. To announce that intelligence is not being utilised is to subvert wider national interests and; advertise national vulnerabilities. The cascade of calamities confronting the nation on various fronts today is more due to the progressive incapacitating of the state’s instruments of coercion and defence, than unavailability of actionable intelligence. These problems are far more pronounced in the Northern parts of the country, where wide expanses of land are under the relentless attack of bandits, rampaging insurgents and cold-blooded terrorists. Communities and neighbourhoods are being laid waste on a regular basis, even as kidnappers are cheerfully patrolling the length and breadth of the country. Information about all of this, which can aid preemptive action, is often available. But the police is ill-equipped and the soldiers are now spread too thin. This has created a thriving industry of ransom takers, with criminal herdsmen; who are actually armed smugglers from outside the

country. These criminals are the ones giving generations of Nigerian herders, who have lived peacefully within and around many host communities for decades, a bad name. The IPOB situation in the South-east is moving up its octave every week. There is continued decimation of police personnel, police stations and the torching of offices of the Independent National Election Commission (INEC). It is not getting any better, in terms of genuine stability of community life in most of the troubled areas in the country. And it is against the background of all of this that you find the oft-glibly mouthed claim that the solution is to change the nation’s security architecture, “in order to remedy” the failure of intelligence. Utter bunkum! Concerning the question of security architecture, there is probably no subject on which greater nonsense has been uttered in the last few years. Yes, there are security challenges of various kinds. Yes, our soldiers, both officers and men, have sometimes been worsted by better equipped insurgents and other opportunistic miscreants. Yes, many political office holders have stridently Continued on page 54

AIGBOJEAIG-IMOUKHUEDE GUEST COLUMNIST

Pulling Nigeria Out of the Corruption Hole

was 13 years old in 1979, when Nigeria began to slip into a dark, frightening hole that seemed to have appeared overnight, and from which it has yet to emerge: corruption. Until that point, I had walked with a particular adolescent swagger – that of a young citizen of a newly independent nation that really mattered on the world stage; of a country whose voice carried loud and clear in the community of nations. To me, Nigeria was a country that produced wonderful writers, excellent athletes and brilliant leaders. It was the most populous African nation, one where English was spoken well and whose national IQ was one of the highest in the world. Life in Nigeria, while of course not perfect, was in so many respects really good. And it was getting better. My secondary school, looking back, provided a reflection of what was happening in Nigeria. In 1977 I was fortunate to attend an elite state-run secondary school, where by any African standard I had access to first-class teachers, academic resources and sporting facilities. Then that hole emerged seemingly from nowhere, and into its bowels vanished so much of what was good about Nigeria. Suddenly, my school was no longer a centre of excellence, but an underfunded,

Abdulrasheed Bawa , EFCC Chairman overcrowded relic of past glory where standards had plummeted overnight. It was a microcosm of the insidious power of the corruption gripping Nigeria, where good was sucked into that forbidding hole and turned into bad. A nation that had up to that point embraced merit in most things, at least those things my childish mind

grasped, had done an abrupt about-turn and chosen instead to pursue mediocrity. At that time, in 1979, Nigeria had just emerged from military rule, the only system of governance I had known since birth in 1966. Power was again handed to civilian authority – but it was not to last long before the military once again seized power in 1983 (and effectively held it again until the turn of the millennium). In 1982, a year before the military seized power from our civilian government for the second time, I began my four years of university studies. Not much changed; certainly, things weren’t getting any better. Indeed, if I thought that it was the civilians who couldn’t manage our country properly, what followed when we returned to military rule proved that any civilian government is better than a military one. Dictatorship was not only bad socially and economically, but from a global point of view Nigeria was a pariah nation unable to get its act together, and on its way to joining the club of failed African states. Our military administrations from 1983 on are reckoned by some to have been the most corrupt of all, but perhaps Nigeria was so corrupted already that no one really noticed. Perhaps the hole was now so deep already that it no longer really mattered if it got deeper.

Then the miraculous happened, and in 1999 Nigeria returned again to civilian rule. For the next eight years, because we had once again embraced meritocracy, our country experienced a renaissance. Nigeria made more progress in that short period than it had in the preceding 25 years. We began to climb out of that terrible hole, the one we had dug for ourselves. But then, just as we got our heads above the ground, we lost our footing and we started slipping back down again. Today, I believe, we are almost in the same position we found ourselves in 1999; we have wasted many of the opportunities and outcomes our eight-year renaissance had afforded us. By Now Our Country Should Be Flying! Consequently, I have found myself asking: does our apparent inability to climb out of the hole we are in mean that we Nigerians have accepted that we cannot do any better? That our lot in life, despite the fact that we can compete intellectually with any nation on Earth, is much worse than we had dreamed it would be? That our children are consigned to being third-class citizens of the world (unless they emigrate and find opportunity elsewhere)? Here’s another question to ponder. When I was a small boy, our nation was 60-million Continued on page 54

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