TUESDAY 21TH JUNE 2022 by THISDAY Newspapers Ltd

Fuel Scarcity: IPMAN Faults PPMC, Says Sale of PMS at N165 No Longer Sustainable Gilbert Ekugbe The Independent Petroleum Marketers Association of Nigeria (IPMAN) yesterday faulted the Pipelines and Product Marketing

Company (PPMC) for the recent scarcity of premium motor spirit (PMS) in the country. The Chairman, IPMAN, Lagos Satellite Depot, Mr. Akin Akinrinade, at a media briefing in

Lagos, stated that since December 2021, not a litre of PMS had been lifted at the Nigerian National Petroleum Corporation's (NNPC) Satellite depots at Ejigbo, leaving independent marketers to the hands

of private depots who he said have increased their ex- depot price to a level no longer sustainable to sell PMS at N165. "Our members are registered to load with PPMC, but since

December last year, not a litre has been lifted at the NNPC's Satellite depots in Ejigbo. We have tickets that have been paid for amounting to over a billion naira as far back as October last year and as we speak,

these tickets have not been loaded meaning that PPMC is holding on to our money," he said. He added: "These are funds we Continued on page 10

Nigeria, Others Move to Revive $13bn Trans-Saharan Gas Pipeline as Demand Pressure Mounts... Page 5 Tuesday 21 June, 2022 Vol 27. No 9933. Price: N250

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COVID-19: 19% Eligible Nigerians Vaccinated, Says FG... Page 6

State Govts Not Subservient to FG, Says Body of Attorneys-General Vows to resist $418m London/Paris Club Consultancy Fee Wale Igbintade The Body of Attorneys-General of 36 States of the Federation (BOAG) has condemned what it called constant

and destabilising threats by federal government agencies to the states, asserting that state governments are equal and not subservient to the federal government

The Federal Inland Revenue Service (FIRS) had in a public notice warned that most states and local governments have failed to remit to the Service Withholding

Tax (WHT) and Value Added Tax (VAT) deductions from payments made by them to contractors and service providers as required by law. However, the Body of Attorneys-

General in a communique issued at the end of it's meeting in Lagos, a copy of which was obtained yesterday, frowned at the FIRS threat to recover unremitted tax

deductions by states and local governments. Also, the conference vowed to Continued on page 10

Tinubu: If My VP Nominee Decides to Step Down Within Timeframe,That’ll Be No Breach

Says consultation with Buhari, others ongoing Place holder a Nigerian invention with no foothold in law, INEC clears Insists presidential candidates already submitted names of running mates Commission holds concert to mobilise voters for registration Chuks Okocha in Abuja Presidential candidate of the All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu, last night, cleared the air about the status of his choice running mate, a former National Welfare Secretary of the APC, Kabiru Ibrahim

Masari, whom he insisted was duly nominated, but could choose to step down within stipulated time, and would not have breached any known laws, rules or regulations. Tinubu, who maintained that Masari remained his choice as Continued on page 10

Akeredolu Begs Global Community to Support Fight Against Insurgency... Page36

GANDUJE AND WIFE BECOME CHIEFS OF IBADAN LAND... L-R: Emir of Kano, Alhaji Aminu Ado Bayero; Governor of Kano State and the Aare Fiwajoye of Ibadan Land, Dr. Abdullahi Umar Ganduje; Presidential Candidate of All Progressives Congress (APC), Alhaji Ahmed Bola Tinubu and First Lady of Kano State and the Yeye Aare Fiwajoye of Ibadan Land, Prof. Hafsat Abdullahi Ganduje, during the conferment of chieftaincy tittles on them in Ibadan by the Olubadan at Ibadan…recently

TUESDAY JUNE 21, 2022 • T H I S D AY

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Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 0809 7777 322, 0807 401 0580

NEWS

HERE IS OUR GOVERNOR-ELECT... L-R: Ekiti State Governor-elect, Biodun Oyebanji; President Muhammadu Buhari and Ekiti State Governor, Dr. Kayode Fayemi, during the visit of the Ekiti State Governor-elect to the State House PHOTO: SUNDAY AGHAEZE. Abuja...yesterday,

Nigeria, Others Move to Revive $13bn TransSaharan Gas Pipeline as Demand Pressure Mounts Emmanuel Addeh in Abuja Nigeria, Algeria and Niger Republic yesterday moved to reactivate the $13 billion Trans- Saharan Natural Gas Pipeline (TNGP) project as demand pressure continues to mount from within the continent and Europe. A planned natural gas pipeline from Nigeria to Algeria, the idea of the trans-Saharan pipeline was first proposed in the 1970s and the project was first seen as an opportunity to diversify the European Union's gas supplies. In 2002, the Nigerian National

Petroleum Company (NNPC) Ltd., and the Algerian national oil and gas company, Sonatrach signed a Memorandum of Understanding (MoU) while the feasibility study was completed in September 2006. The pipeline, of which the Nigerian section has been named the Ajaokuta-Kaduna-Kano, starts from Warri and runs north through Niger to Hassi R'Mel in Algeria where it will connect the existing TransMediterranean, Maghreb–Europe, Medgaz and Galsi pipelines. With an approximate length of 4,128 kilometres, including 1,037 kilometres in Nigeria, 841 kilometres

in Niger, and 2,310 kilometres in Algeria, the annual capacity of the pipeline is estimated to be up to 30 billion cubic meters of natural gas. Speaking during a meeting with ministers of energy of participating nations on the revamping of the project in Abuja, Minister of State, Petroleum, Mr Timipre Sylva, noted that the completion of the project was long overdue. He stated that the project which has been on the drawing board for years, needed to be actualised, especially given that gas prices have skyrocketed. He added that with pressure

from Europe to ramp up supply to the continent against the backdrop of the Russia-Ukraine war, given that gas has become a weapon of international war, has become critical. More than ever before, Sylva noted that the project needed to be fast-tracked, stressing that on the side of Nigeria, the AKK was already in full swing. “We as Africans should show the world that we can come together and build major infrastructure like the TNGP to signal that Africa has come of age because this kind of regional integration project is the

Buhari Tasks Organised Private Sector on Job Creation Onyebuchi Ezigbo in Abuja President Muhammadu Buhari yesterday urged members of the organised private sector to do more in the area of creation as well as to ensure retention of jobs. Buhari made the appeal in a goodwill message to the Nigeria Employers' Consultative Association (NECA) at the maiden edition of the Nigeria Employers' Summit in Abuja. The president who was represented by the Minister of Labour and Employment, Senator Chris Ngige, noted that the private sector could become the engine of growth in Nigeria by creating jobs, paying requisite taxes, as well as providing funds for execution of works and services. He also enjoined the private sector to give justifiable consideration to decent work agenda and maintain social protection floor by adopting redundancy as the last option in personnel management, bearing in mind the policy of the federal government against retrenchment. The president described the theme of the summit, "The Private Sector: An Engine for National Development," as very apt, considering the challenges facing the country in terms of job creation and empowerment. According to him, in attaining the goal of development, the private sector in tune with the theme of this summit could become the engine of growth in Nigeria in many ways. He said, "While the government works with the trade unions to ensure sustainability of the enterprise by building and protecting a sound National Industrial Relations System, on the other hand, businesses are also protected and

enabled to succeed. "They are consequently expected to drive growth, create jobs and pay the requisite taxes that would boost investments, finance works and services to improve the social welfare of the people in the field of education, provision of basic facilities, portable water, transportation, care of the aged and other forms of horizontal and vertical social protection/social security that includes but not limited to the empowerment of the less privileged and the vulnerable in the society. "In this regard, I am glad that the National Labour Advisory Council (NLAC), of which NECA is a member, has commenced the consideration of International Labour Organisation (ILO) Convention No. 102 on Social Security (Minimum Standards), encompassing nine thematic areas or branches for ratification by Nigeria, though being considered in stages due to the enormity of coverage provided by the Convention. When this feat is accomplished, the role of the private sector in national development, would be

highlighted." Buhari said government expects more partnership both with (NECA) as an umbrella employer-body and companies, including multinationals in their individual rights and capacities. According to him, such partnerships would enable and create more opportunities for corporate social responsibility (CSR) by those companies in tune with the principles contained in the ILO instrument, "Tripartite Declaration of Principles Concerning Multinational Enterprises and Social Policy." He said the instrument provides direct guidance to enterprises on social policy and inclusive responsible as well as sustainable workplace practices. "We hope to walk and work in the footpath of our words as we deliberate on the private sector as the engine of national development. The advent of COVID-19 and its aftermath have given rise to areas of global socio-economic interventions and models of development. "As we review the principles of just transition and the outcome of deliberations by the recently

concluded International Labour Conference in Geneva on Decent Work and the Social and Solidarity Economy, let us step this terminologies down to our basics and derive the best from them for our people." The Country Director of the ILO Office for Nigeria, Ghana, Liberia and Sierra Leone, Vanessa Phala, said she anticipated that, "the summit will contribute to further advancing the decent work Agenda (of ILO) with concrete steps towards an improved business environment for the Nigerian private sector." Earlier in a welcome address, the President and Chairman of Council, NECA, Taiwo Adeniyi said though the private sector has an important role in the realisation of national development plan, they were inhibited by challenges such as policy inconsistency, overbearing regulatory frameworks, multiplicity of taxes, inadequate infrastructure and insecurity. Adeniyi said it was gratifying to note that businesses had exhibited resilience and doggedness in keeping the wheel of the economy rolling.

kind that the world wants to see,” he noted. Sylva stressed that a lot of financing organisations were interested in the project, describing it as a very viable one with Nigeria's proven reserve of roughly 206 TCF and an upside of 600TCF. According to him, when the gas from Niger, Algeria and Niger are properly harnessed, it will add significantly to world supply and put the continent on the world map. “This is the beginning and we would like to see this as the last mile of this project so that we can actualise the project as soon as possible,” the minister stated. In his comments, the Algerian Minister of Energy and Mines, Mohamed Arkab, noted that the TSGP will have a significant and positive impact on the socioeconomic development of African countries. He explained that the reactivation of the project would help achieve carbon neutrality in the short term, but added that a global and efficient energy transition cannot take place without the contribution of hydrocarbons. “The TSGP project is in line with our national objectives and our international commitments in reducing the carbon footprint and securing the supply of natural gas to markets. “The TSGP presents itself as a new source of supply for markets whose demand is constantly growing, given the place that natural gas will occupy in the future energy mix. “Counting on the know-how of our countries in production, transport and marketing fields, it is obvious that the TSGP project, with the advantages it can provide, will further strengthen our production capacities and enhance our capabilities to play a major role in

the international markets,” he said. Among others, he said the advantages of the development that the project will bring to the local populations and to the various transit regions are a route crossing three countries and which able to interconnect other countries. He invited all the parties and teams to participate actively in the realisation of the important project, within the required deadlines, to ensure the supply of the markets and make sure of a a better positioning of African countries in the chessboard world of energy transition and sustainable development. Also in his remarks, the Group Executive Director, Gas and Power, Mr Abdulkabir Ahmed, who represented the Group Managing Director of the NNPC, Mallam Mele Kyari, pledged Nigeria’s commitment to seeing the project to a logical conclusion. He said that the NNPC will ensure that the resources needed to make the project a success will be made available, pointing out that the gas that will flow into the pipelines will be made available in due time. “The only way to commercialise this gas is to provide it for the market and you cannot find a market if you don’t get it in the pipelines. Therefore, the TNGP is important and we also want to put it on record that funding remains important to the success of this project. “ This project will curtail desertification, grow domestic economies,” he assured, adding that the ministers wills decide whether the MoU earlier entered still holds. Also speaking, Niger’s SONIDEP head, Ibrahim Mamane, stressed that the country was ready to operate in the upstream sector, adding that Niger has a very huge potential in the sector.

Gbemisola Saraki Backs NPA on Reconstruction of TinCan Port’s Quay Wall The Minister of State for Transportation, Senator Gbemisola Saraki has reaffirmed the position of the Nigerian Ports Authority (NPA) on the total reconstruction of Quay walls of the TinCan Island Port Complex which have become weak due to age. Speaking during her tour of the Lagos port complex yesterday, the minister was quoted in a statement to have said: “We cannot build on a weak foundation, it is vital that we get these two very important ports modernised and ready to berth modern vessels. The state of the

ports show decades of neglect but it's better late than never." He comment was in harmony with that of the Managing Director, NPA, Mohammed Bello Koko who had allayed fears of the imminent collapse of the Tincan Island Island port complex as the Authority was already at conclusive stages on funding options. This includes talks with competent multilateral funding institutions and the possibility of the Authority using a percentage of the revenue or transfers to CRF to fund the reconstruction .

Koko on several interactions with the media drawn attention to the fact that, "although the NPA had over the years been undertaking remedial works on the quays, the time has come for a holistic reconstruction and the Authority is working with the Federal Ministry of Transportation on the most prudent funding option." Koko said: “We are on the verge of concluding discussions with multilateral funding agencies to fund the reconstruction. The other option is to go to the government

to request that the NPA be allowed to use a certain percentage of its revenue which is transferred to the consolidated revenue fund (CRF) on yearly basis to fund the reconstruction. “We transfer about N60 billion a year and we can use about 50 percent of that to repair Tin-Can. Another option is to do hybrid funding where NPA funds part and multilateral agencies fund the rest.” He said the final option was for the terminal operators to fund the reconstruction but the issue is that

not all the terminal operators have the same financial capacity or will be able to source funds at the same time. To him, the NPA does not want a haphazard reconstruction because starting Terminal A without Funding for reconstruction of terminal B may affect the safety and integrity of the berths neighbouring, adding that the process would be properly coordinated working with the Federal Ministry of Transportation to make a decision that would be taken at the right time and properly.

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NEWS

EDO SECURITY COUNCIL MEETS... L-R: Edo State Deputy Governor, Philip Shaibu; Commander, 4 Brigade, W. Diriyai; Edo State Governor, Mr. Godwin Obaseki; Edo Commissioner of Police, Abutu Yaro, and Director of State Security Service, after the state’s Security Council Meeting, at the Government House, Benin City...yesterday

COVID-19: 19% Eligible Nigerians Vaccinated, Says FG Onyebuchi Ezigbo in Abuja The federal government yesterday said the country has been able to fully vaccinate 21,236,404 of its eligible population with COVID-19 vaccine. Speaking at a ministerial press briefing organised by the Federal Ministry of Health in Abuja, yesterday, the Executive Director of the National Primary HealthCare Development Agency (NPHCDA), Dr. Faisal Shuaib said: "As at 10pm yesterday, the 19th of June 202, of the 111,776,503 eligible Nigerian residents target for the entire vaccination cycle, a total of 21,236,404 people were fully vaccinated with different mix of COVID-19 vaccines while 28,426,564 people were partially vaccinated, indicating 19.05 per cent and 25.4 per cent respectively." Shuaib who was represented by Dr. Abdullahi Bulama Garba, said from the above statistics, it was clear that Nigeria was still far in achieving its set target of vaccinating 70 per cent of her eligible population. He said more aggressive actions needed to be taken to fast-track the process to achieve herd immunity against COVID-19 infection in Nigeria Shuaib said one the major strategies being adopted by the agency to achieve the objective was the introduction of the concept of mass vaccination exercise across the country. This concept, he said, had been

further reinforced with concept of service integration where COVID-19 vaccines are given along with other high impact health interventions like routine immunisation, among others. He also said another major strategy was, "the expansion of the vaccination sites to include all the publicly owned PHC, secondary and tertiary health facilities, public, private corporate bodies and selected private health facilities. We have also created mass vaccinations sites in stadium, shopping malls, markets, religious houses, motor packs and in careful selected/trained pharmaceutical stores." The Director General of Nigeria Centre for Disease Control (NCDC) Dr. Ifedayo Adetifa, who presented an update on the state of affairs with epidemics in the country, said the centre was making efforts to keep the various infectious disease outbreaks at bay. While giving updates on Monkeypox infection in the country, the NCDC DG said as of June 19, 2022, 41 confirmed Monkeypox cases and one death had been reported. He said among the 41 cases reported in 2022 so far, "there has been no evidence of any new or unusual transmission of the virus (such as spreading among the MSM group), nor changes in its clinical manifestation documented in Nigeria (including symptoms, profile and virulence) as compared

to other countries in the global north reporting cases." He said globally, between the January 1 and June 15, 2022, a cumulative total of 2,103 laboratory confirmed cases, one probable case, and one death were reported to WHO from 42 countries in five WHO Regions. He said with the commencement of the Hajj Pilgrimage on June 9, the NCDC supported the Port Health Services to ensure pilgrims met the

health protocol requirements. "We continue to strengthen diagnostic capacity by adding new laboratories to the COVID-19 network. We continue to engage with states to ensure regular reporting and response continuity. "We have ensured continued working with NYSC camps for safe reopening to minimise infection risk," he said. Adetifa said the NCDC has been part of many conversations in recent

weeks on monkeypox and was pushing for the de-stigmatisation of the disease and renaming. "Global reports report the disease in men aged 0 - 65 with a median age of 37; most self-identify as men who have sex with men,” he added. According to him, NCDC in collaboration with the National Veterinary Research Institute, Vom (NVRI), and the Federal Ministry of Agriculture and Rural Development (FMARD), have conducted

animal surveillance in Adamawa State to investigate the possible role of rodents in the transmission of the virus. The Director of the Department of Family Health, Dr. Salmat Ibrahim gave update on the present challenges posed by female genital mutilation in the country. She said about two million Nigerians were still at risk of female genital mutilation, while 200 million persons face similar risk globally.

Obaseki Assures Improved Security, Insists Ban on Motorcycles in City Centre Still in Force The Edo State Governor, Mr. Godwin Obaseki, has pledged to sustain partnership with security agencies in the state to ensure improved security of lives and property of citizens of the state. The governor, while reviewing the state’s security situation for the month of May, said the ban on motorcycles in the Benin metropolis is still in force. The review came after a joint security meeting with representatives of various security agencies in the state. Obaseki said, “The ban on motorcycles in the main city is still in force. We only allowed tricycles in and around semi-urban areas. Motorcycles can still be used in rural areas where the road network is not

as good as that of the city and that is the position in the state today. "The bulk of the accidents that we are seeing is not from the city. We are witnessing them on the federal roads, particularly the Ovia axis and around Agbede and Ewu area. Those are the main areas where we experienced accidents because those roads are not quite motorable. “I am glad to inform you that the security situation in Edo State continues to be stable. This month we saw a slight increase in the number of security incidents reported from about 118 in April to about 125 in May.” He continued: “But this increase is not attributable to very serious crimes. We did this analysis for the

month of May and saw a significant increase in vehicular accidents. These accidents are mainly attributed to bad federal roads, particularly in the Ovia axis of the state, and in the Agbede axis where we recorded a number of losses of lives. "We also noticed that there was a slight increase in reported drug cases. Kidnapping cases were stable for the month. We also witnessed a slight increase in armed robbery, which was not totally unconnected with political activities during the period.” “The security situation in the

presentation titled, ‘MIA and Nigeria Market Overview', the Commissioner, Second District, Miami-Dade County, Jean Monestime, said the trade mission enabled them to interact with government officials to boost trade between both countries. According to him, part of what they would be looking at would be how to establish a direct flight to their state, rather than connecting Nigeria through Morocco and also tourism and seaport development. “Also to use our airports and seaport to transform your commercial and cargo routes and also as a way to get your trades to Latin America and North America. If you are a government agency to establish or reestablish agreement or MoU with your counterpart in our county. “We would like to ask that a business-to-government and government-to- government delegation be led to Miami-Dade County

be organised and we invite you as an invitation to lead government and business delegation to our County. “That is when you will be able to share your ideas of how you want to improve and what we can do to assist; whether you are looking for funding for public-private partnership, like to go into our education system with people in our County, we will facilitate whatever you need. “These are the reasons we are here and again is an open invitation to government officials here and to come to Miami in response to what we are doing here today. It is all about relationships, we come here and we invite you to come and we come back and we start business in the near future.” However, Organisation of Women in International Trade (OIWIT) Nigeria and African Women's Entrepreneurship Programme (AWEP) urged the delegates to also facilitate trade for Nigeria women.

Sylvester Idowu in Warri

state is fair. The cooperation level amongst the security agencies in the state continues to be very good and that is why we've been able to control the situation within the state,” he added On his part, the Edo State Commissioner of Police, Mr. Abutu Yaro, said “Edo is now very, very safe under the watch of the governor of the state. It’s ready for business and ready for leisure, and at all times, the synergy of the security architecture of the state is second to none. You are all reassured that the best is yet to come.”

2023: Orubebe Quits PDP, Says Party Not Ready to Return to Power FAAN, Miami-Dade County Seek Partnership on Airport Devt Chuks I have communicated to the ChairOkocha in Abuja and

Oluchi Chibuzor The Federal Airport Authority of Nigeria (FAAN) and the Miami-Dade County have agreed to align their common goals to facilitate bilateral trade relationships in aviation as well as explore investment around seaport and tourism. In view of this, the county is seeking to establish a direct access flight between Miami and Nigeria under the preferential treatment received through the then African Growth and Opportunity Act (AGOA). Speaking in Lagos, yesterday, at a business development mission organised by FAAN for a trade delegation from Miami-Dade county, the Managing Director/CEO, FAAN, Rabiu Yadudu, expressed gratitude to the delegates for coming to Nigeria. Yadudu, who was represented by the Director, Finance and Accounts, FAAN, Nike Aboderin, said, FAAN has in a number of ways explored

non-aeronautical modes of revenue generation and was consistently seeking new avenues for expansion. According to him, “It is on this premise that we have in this gathering distinguished ladies and gentlemen from various sectors of the Nigerian Economy who have come to exchange business ideas and explore prospects of expansion as well as seek ways of collaboration in the course of this business meeting with our delegates from Miami-Dade County. “It is not out of place that FAAN whose core business is to develop and profitably manage customercentric airport facilities for safe, secure and efficient carriage of passengers and goods at world-class standards of quality. Despite recent challenges the Authority has been striving to fulfill its mandate.” Commending FAAN for giving them the opportunity to interact with business community through their

A former minister of Niger Delta Affairs in the Goodluck Jonathan administration, Elder God’sday Orubebe, has announced his resignation from the Peoples Democratic Party (PDP), saying the party was not ready to return to power in 2023. Orubebe made his resignation from the PDP known yesterday in a letter dated June 20, 2022,personally signed and forwarded to the PDP National Chairman, Iyorchia Ayu, a copy of which was made available to newsmen. The former minister stated that the reason for his resignation was because of the emergence of a northern presidential candidate in the party. The letter read: “I write to formally inform you of my resignation from the PDP. This

man of Burutu Ward 3, Burutu Local Government Area, Delta State, effective 20th June, 2022. “Consequently, I am by this letter intimating you of my total withdrawal from all activities at the Ward, Local, State and National levels of the PDP. “I am highly honoured and privileged to have been part of a political party that successfully transformed a pariah nation to one that commanded respect in the comity of nations," he stated. Orubebe, however, expressed satisfaction with Governor Nyesom Wike of Rivers State for pursuing his presidential ambition vigorously in the just concluded PDP presidential primary election. He also queried the moves by the northern region to superimpose themselves in leadership against other regions in the country.

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NEWS

MINISTERIAL TOUR OF LAGOS PORTS ... L-R: Executive Director, Marine and Operations, NPA, Hon. Onari Brown; Executive Director, Finance and Admin, Ms. Aderenle Susanna Adesina; Managing Director, Nigerian Railway Corporation, Fidet Okhiria; Honourable Minister of State for Transportation, Senator Gbemisola Saraki, and the Port Manager, Lagos Port Complex, Mrs Funmilayo Olotu, during the ministerial tour of Lagos Ports...yesterday

NDLEA: 17,647 Drug Offenders, 10 Barons Arrested in 17 Months The Chairman/Chief Executive of the National Drug Law Enforcement Agency (NDLEA), Brig. Gen. Mohamed Buba Marwa (Retd) has revealed that a total of 17, 647 drug offenders and 10 barons have been arrested in the past 17 months with over 2,369 convicted and jailed while more than 11,000 drug users were counselled and treated within the same period. Marwa disclosed this at a press briefing in Abuja yesterday, to kick-start activities to mark this year’s UN day against drug abuse and illicit drug trafficking with the theme: “Addressing Drug Challenges in Health and Humanitarian Crises.”

The grand finale holds on June 27, 2022. According to him, “For us at the agency, we are abreast of time and trends as shown by the priority accorded treatment and care. In 2021, about 8,000 drug users were counselled and rehabilitated, in most cases through brief interventions. “We continued the effort in the first five months of 2022, whereby an additional 3,523 were also counselled and treated in NDLEA facilities. “Simultaneously, we have continued to shut the tap of illicit flow of drugs with the arrest of over 17,647 offenders including 10 drug barons between January 2021

and May 2022; more than 2,369 convicted and jailed within the same period while 154,667.339kg drugs have been seized in the first five months of this year alone.” The NDLEA boss said changing dynamics have forced a paradigm shift that encompasses a balanced approach to tackling the drug problem in the country. “That has brought to the fore the imperative of looking at the drug problem through the lens of public health and also tackling such as a broader social problem rather than through the conventional, narrow, criminal matter approach. “It has, therefore, also become prudent to initiate mechanisms

and measures that are proactively extenuating. In our case, the National Drug Control Master Plan (NDCMP) 2021-2025, launched last November, has incorporated components that tend to the health concerns of drug abuse. “Some of the activities lined up for this week are reflective of the realignments in our approach to the illicit substance problem,” he stated. While stating that the Agency’s Drug Demand Reduction Department had been galvanised and working non-stop to ensure that the health aspect of the drug abuse calculus is getting adequate attention, Marwa said a number

Report: Tobacco Industry Exploiting Social Media to Promote Product Adedayo Akinwale in Abuja

The tobacco industry in Nigeria is allegedly exploiting social networking platforms to promote and market its products in contravention of provisions of the National Tobacco Control Act 2015 and its regulations, a new report has revealed. The report launched yesterday in Abuja, by the Corporate Accountability and Public Participation Africa (CAPPA) also revealed how the tobacco industry captured the virtual space in Nigeria to market its products. The Executive Director of CAPPA, Mr. Akinbode Oluwafemi during the public presentation of the report decried how the tobacco industry was making use of social media platforms to aggressively promote sales of tobacco products and a smoking culture. He said the research was supported by a grant from the International Union Against Tuberculosis and Lung Disease (The Union) on behalf of STOP, a global tobacco industry watchdog, researched popular social networking platforms between 2016 and 2021 and flagged 226 activities involving tobacco companies and their allies in Nigeria. The report documented how tobacco companies while embarking on their corporate social responsibility (CSR) activities deploy different strategies to gain the affection of policymakers, reflect partnerships and collaboration with

state institutions and organisations that ultimately help them build good public ratings. The report further exposed growing cases of tobacco industry vendors such as Smoke Box Ng and Da Smoke Hub, allegedly flouting the ban on advertising, promotion, and sponsorships by using their social media platforms to flagrantly market tobacco products. The report added: "As the title suggests, the report documents how the tobacco industry in Nigeria craftily uses social networking sites to burnish their image and foster partnerships with state actors and institutions in contravention of provisions of the National Tobacco Control Act 2015 and its Regulations. "The report examined Facebook, Twitter, Instagram, Linkedln, and a host of other social networking platforms used by over 100 million Nigerians for the period between 2016 and 2021 and found that British American Tobacco Nigeria (BATN), through its charity arm, British American Tobacco Nigeria Foundation (BATNF), Philip Morris International Nigeria Limited (PMINL) and others operate unchecked in the virtual space and use it to gain favourable public rating while mentioning nothing about the harms of their products. "CAPPA found that tobacco vendors and distributors such as Smokehubng and Dasmokehub, use their social media platforms

to aggressively promote sales of tobacco products and a smoking culture which relies largely on promoting content showing Nigerian music icons smoking profusely." The report noted that the documented visibility activities of the tobacco industry were mostly in the agriculture, education and entertainment sectors of the Nigerian economy which is subtly targeted at fostering engagement and collaboration with stakeholders in the sectors. Some key findings of the report also revealed that the tobacco industry most preferred and exploited digital and internet channels were: Facebook which was estimated at 40 per cent; Twitter – 36 per cent and Youtube – 14 per cent in the period under review; Instagram – five per cent; Blog/Website – three per cent, and Linkedin – two per cent. The report therefore blamed existing gaps in the National Tobacco Control Act 2015 and the National Tobacco Control Regulations 2019, as it pertains to enforcing the ban and endorsement of tobacco industry CSR activities by state actors and institutions for the manipulation of the space by the tobacco industry. It recommended that the federal government should enforce penalties for Tobacco Advertising Promotion and Sponsorship (TAPS) and tobacco control violations in compliance and accordance with national tobacco control and policy.

It also urged the government to revoke all Ministries, Departments and Agencies’ (MDAs’) collaboration with the tobacco industry and their front groups.

of other measures are being taken to strengthen the process. According to him, “the agency’s policy of Drug Integrity Test is predicated on getting help to drug users suffering in silence because they cannot seek the needed health treatment due to social stigma and discrimination. “This is why in a short while from now, we’ll be unveiling the NDLEA Call Centre that will be manned by professionals and experts in counselling, psychotherapy, psychology, psychiatry and more to offer help to drug users who will make use of our toll-free lines to seek counselling 24/7. “This will also enable those afraid of stigmitisation to be able to seek help without necessarily being seen or identified by anyone. “Even as we rev up our drug supply reduction offensive, it is certain that we are not relenting on getting help to those suffering from drug use disorder. “The forthcoming sensitisation training on Drug Prevention, Treatment and Care (DPTC) for Governors’ Wives will bolster the effort to ensure that the consequences

of drug abuse are nipped in the bud and prevented from snowballing into a public health problem that would overwhelm our society in the long run. “This year’s theme will go a long way in directing our attention to an area that requires collective effort to stave off future catastrophes.” While appreciating President Muhammadu Buhari for the support so far given to the Agency to fulfill its mandate, Marwa also recognised immense contributions from international partners such as EU, UNODC and other stakeholders in the fight against the drug menace. In his remarks, Country Representative of UNODC, Mr. Oliver Stolpe urged governments at all levels in Nigeria, candidates for political offices and international partners not to lose sight of the public health crisis caused by drug use in the country. His words, “based on the 2017/2018 data, we estimated that close to six million persons in Nigeria could be living with a drug use dependency. This creates a massive public health challenge.”

Buhari Salutes First Bank MD, Adeduntan on Cranfield University Honour Lauds Afe Babalola, ABUAD over favourable global ranking Deji Elumoye in Abuja President Muhammadu Buhari has rejoiced with the Group Managing Director/Chief Executive Officer of First Bank Nigeria Plc, Dr. Adesola Adeduntan on his recognition by Cranfield University, one of the most prestigious citadels of learning in Europe. Adeduntan would tomorrow be conferred with Doctor of Science, Honoris Causa and he is to deliver a short address to the graduating class of the university, a development the President in a statement by his Special Adviser (Media and Publicity), Femi Adesina, yesterday, described as, “another testament to the fact that Nigeria is blessed with the brightest and the best in all areas of human endeavor.” Buhari lauded Adeduntan for being a role model to the younger generation, showing that hard work pays, and with resourcefulness and doggedness, great heights

are achievable. The First Bank MD holds Doctor of Veterinary Medicine from the University of Ibadan, Master’s in Business Administration from Cranfield University, and is Fellow of Institute of Chartered Accountants of Nigeria (ICAN), as well as Chartered Institute of Bankers of Nigeria (CIBN). The president, “sends best wishes to Dr Adeduntan and family as he hoists Nigeria’s flag proudly to receive an honor Cranfield University says is being given ‘in recognition of your outstanding contribution to business.” Meanwhile, Buhari has congratulated the Afe Babalola University, Ado-Ekiti, Ekiti State, for emerging the best university in Nigeria and one of the best 400 universities globally. The president was reacting to the Times Higher Education World Ranking on the school’s institutionalised qualitative and

functional education. In a release issued yesterday, by Adesina, the president also hailed the Chancellor of the institution, Afe Babalola, for the feat achieved by ABUAD, noting that the visionary and scholarly leadership style of the school resulted in the global recognition. While appreciating the respect and honour the latest ranking had brought to the country, Buhari, however, charged the management, lecturers and students of the institution to sustain the doggedness and hard work so that it would get to be ranked among the best 50 globally. The release stated: "President Muhammadu Buhari joins Founder and Chancellor of Afe Babalola University, Ado-Ekiti, Ekiti State, management and members of staff in celebrating the favorable rankings, which placed the institution as the Best in Nigeria, and 400th in the world.

TUESDAY JUNE 21, 2022 • T H I S D AY

TUESDAY, ͺ͹˜ ͺ͸ͺͺ ˾ T H I S D AY

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Stakeholders Advocate Stronger Bargain for Nigeria's Bi-lateral Trade Agreements Kingsley Nwezeh in Abuja The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Prof. Bolaji Owasanoye yesterday called for better negotiation skills in dealing with expiring international trade agreements as well as in establishing new ones. He spoke at a two-day workshop on mitigating illicit financial flows with the theme: “Capacity Building for Nigeria’s Negotiators for Improved Terms of Engagement with the Rest of the World,” which kicked off at the commission’s headquarters in Abuja. In his paper titled "From Gunboat Diplomacy to the Negotiation Table," Owasanoye stated that globalisation made interactions with diverse global communities inevitable. He, however, noted that the rules of engagement were more often than not unfavorable to poor economies of the global south, who lack the development and technological advancements of the global north. “This has often led to poorly constructed trade agreements which have ultimately been disadvantageous to the growth of the country and also opened loopholes to encourage illicit

financial flow”, he said. Furthermore, Owasanoye illustrated the archaic practice of European super powers using their military might to cohesively reach one-sided agreement with economic minions. This “Gunboat diplomacy” as he referred to it, eventually forced nations without capacity to depend on imperialists for raw materials and overseas markets. “This inimical approach was eventually countered by the Hague Convention (No 2) Respecting the Limitation of the Employment of Force for the Recovery of Contract Debts of 1907 and then replaced by diplomatic protection whereby states exchanged notes on how investors should be treated by other governments,” he said. The ICPC boss enumerated several reasons why there was need to focus on capacity building to improve negotiation skills especially in the trade and investment sector. “Nigeria requires trade and investment to grow the economy. To attain this desire, we must have the potential to harness capital and technology in a manner that is not inimical to development,” he said. He further pointed out that the pillars of international trade agreements were erected years

ago and they tended to confer undue advantage to colonialists while Africa - itself largely under colonial rule - had little to no say and thus at a disadvantage. These pillars, he said, do no not work for Nigeria. The Chairman stated that Nigeria must align with one of the ideals expressed recently by President

Thabo Mbeki which champions the need to ‘build capacity to combat illicit financial flows at national and continental levels. Owasanoye stated that participants for the workshop were drawn from middle level officers in public sector agencies that undertake negotiations due to the diverse range and complexity

of issues under consideration in the workshop. He acknowledged the invaluable support of Ford Foundation as regards the project and said that, “the foundation continues to demonstrate unquestionable commitment to the development of Nigeria through support for the civil society and selected government institutions.”

In the same vein, the Chairman Inter-Agency Committee on Stopping Illicit Financial Flows (IFFs) from Nigeria, Dr. Adeyemi Dipeolu, lauded the initiative of the Commission in organising the workshop stating that negotiations happen in various day to day activities from the most mundane to the extremely significant occurrences.

House Threatens to Sanction Ministry Officials for Auctioning 12 River Basins Juliet Akoje in Abuja The House of Representatives' public account Committee, has threatened to sanction officials of the Ministry of environment for allegedly auctioning 12 River Basins, even though the Minister for Water Resources, Suleiman Adamu, admitted that the Ministry under his command erred in law, when it ordered the auctioning of government property within the confines of the 12 River Basin Development Authorities across the country. Chairman of the Committee, Hon Oluwole Oke (PDP, Osun), while reviewing the Minister’s appearance

before the Committee on Thursday, June 16, 2022, said yesterday that the minister claimed that he was not aware of the provisions of section 55 of the Public Procurement Act, which vested the power on the agencies. The Ministry had, through four Auctioneers, auctioned several billions naira worth of assets at a total sum of N137,235,746.50, a figure which is a far cry from the valuation of the Office of the Auditor General for the Federation. Oke, who sought to know whether the Management of four of the River Basin Development Authorities that appeared before the committee willingly auctioned the property

of the agencies, informed that it was a crime in the eye of the law for them to allow another person to perform their duties without recourse to the law. “Your minister was here last week and admitted that he actually raped the law. He apologised and said he did not know that this law actually existed. How can you just carry auctioneers, give them government property to auction. “Is the Minister for Water Resources the same as Upper Niger Basin Development Authority? They went to Abeokuta and carried the property belonging to Nigerians and they admitted that we have 12 River

Basin Development Authorities. “The Auctioneers are here and we asked them how they knew that the items will be auctioned. Where is the advertisement you responded to. How many auctioneers do we have in Nigeria and why is it just four that were selected to do the auction? Your colleague from Abeokuta was rushing to defend the Ministry. “They carried out the auction without recourse to the provisions of the law. It is this same law that sent Bode George and his co-travelers at NPA to jail. It is the same law that earned Ngilari that we wrote the law together in 2003, a sentence in Adamawa.

TINUBU: IF MY VP NOMINEE DECIDES TO STEP DOWN WITHIN TIMEFRAME, THAT’LL BE NO BREACH running mate and also denied sending his name in as a place holder, however, said consultations with President Muhammadu Buhari and other stakeholders of the ruling APC were still ongoing. This is as the Independent National Electoral Commission (INEC), yesterday, fired warning shots at politicians, saying their new invention – the use of place holder – to sidestep its deadline was not only unknown to law, but alien to democratic practice. It warned that there were no forms or space in its forms for Place Holders, stating categorically that as far as it was concerned, the parties fielding candidates for next year’s presidential election, have submitted the names of their running mates as at the July 17 deadline as contained in the schedule of activities by the commission. Responding to comments by INEC’s National Commissioner of Information and Chairman, Voter Education, Festus Okoye, while on ARISE TV, Tinubu’s Media Aide, Tunde Rahman, maintained that Masari was his principal’s choice of vice-presidential candidate for 2023 general election and the situation remained so, despite ongoing consultations.

He said: “Without taking issues with the INEC National Commissioner, I just like to state the situation as it relates to the presidential candidate of the APC, Asíwájú Bola Ahmed Tinubu. “And it is that Asíwájú Tinubu has duly completed his nomination forms, including giving the particulars of his running mate. He has returned the completed nomination forms to INEC. He even returned the forms two days ahead of schedule. “I don’t know about a placeholder. This is the coinage of the media. I know he has picked a running mate.” He, however, reiterated that consultations were still ongoing between President Muhammadu Buhari, Tinubu, his running mate, Masari and the APC national leadership. Conversely, Rahman hinted that, if Masari, on his own volition, decides to step down as vice presidential candidate within the stipulated time frame given by INEC, no provisions of the constitution and the electoral laws could be viewed to have been observed in the breach. He said, “I must add, however, that there are ongoing consultations

involving President Buhari, the party’s governors and the APC leadership with Asíwájú Tinubu and his running mate. If following these consultations, the running mate decides, for instance, that he wants to stand down in the interest of the party and the country, I think it’s only fair and appropriate to allow him deal with that as long as it is done within the spheres of the electoral law and the timeframe for that, given by INEC. “I think it’s within the prerogative of the running mate to take his own decision and to say, for instance, that he would like to stand down because he feels doing so will serve the candidate and the party better than he remaining on the ticket. And that this is done in line with the provision of the law and INEC guidelines and timetable. This is the way it is.” INEC had yesterday said the idea of ‘Place Holder’ was a Nigerian invention, which had no place in the constitution or any legal foothold, adding also that there was no provision for such option in the forms submitted by the parties. This nonetheless, INEC has commenced a five-day musical concert from yesterday, June 20 to Saturday, June 25, with the

sole objective of enhancing and mobilising more registration of voters in the ongoing exercise. Speaking on the ARISE Television Morning Show, Okoye, hinted at how political parties could substitute its vice-presidential candidates, a process not as easy as it was originally made it seem by the parties. Some of the presidential candidates had submitted to INEC, what they referred to as space or place holders. Deadline for all the 18 political parties to submit the names of their presidential candidates and running mates had elapsed on June 17 2022. Thus, with the use of place holder, it presupposes that such vice-presidential candidates would be substituted later as they were only put in to beat the deadline provided by the Electoral Act. But, while the presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, beat the deadline and submitted the name of Delta State Governor, Ifeanyi Okowa, as his running mate, the likes of Labour Party (LP) and the APC are yet to pick their running mates. In a desperate bid to beat deadline, therefore, Tinubu, submitted

STATE GOVTS NOT SUBSERVIENT TO FG, SAYS BODY OF ATTORNEYS-GENERAL send a written response to the FIRS, highlighting the agency’s erroneous position and that it lacks the power to impose any penalty on the states. The communique was jointly signed by BOAG's Chairman and Secretary, the Attorney-General and Commissioner for Justice, Lagos State, Mr. Moyosore Onigbanjo and his Nasarawa State counterpart, Dr. Abdulkarim Kana. Regarding the federal government’s attempt to deduct States’ funds to offset a purported consultancy fee of $418 million arising from the London/Paris Club Loan refunds, the conference resolved to continue to resist, through all legal means, the wrongful deductions of their funds under any guise. The BOAG maintained that the Federal Ministry of Justice, the Central Bank of Nigeria, and other relevant agencies should cease all further action on the matter pending the final resolution of an appeal filed on behalf of the States. On the ongoing court action concerning the right of states to collect Value Added Tax (VAT) and the subsisting judgment to that effect, the conference resolved that given its absence from the

1999 Constitution, VAT remains a residual matter that falls within the exclusive legislative competence of each federating state. While the conference maintained that, the judgment of the Rivers Division of the Federal High Court supports the constitutional position that VAT is a residual matter, it added that it was not opposed to a political resolution of the dispute to balance fiscal federalism with equity. The communique read: "Regarding the FIRS’ threat to recover unremitted tax deductions by states and local governments, the conference stresses that state governments are equal and not subservient to the federal government. "BOAG condemns the constant and destabilising threats by federal government agencies to the federating states. To that end, BOAG will send a written response to the FIRS, highlighting the agency’s erroneous position and that it lacks the power to impose any penalty on the states. "Regarding current developments in the Administration of Justice across the 36 States/Inter-State Collaboration and the activities of the Lagos State Domestic and

Sexual Violence Agency, BOAG encouraged the States to continue to share experiences on critical matters and areas of commonality in the administration of justice. "BOAG encouraged all states on the use of technology in court proceedings. It also commended inter-state collaboration in facilitating virtual hearings for police officers and witnesses outside the jurisdiction of the adjudicating court.” On the issue of stamp duties, BOAG resolved to send its position paper opposing the proposed amendments to the Chairmen of the appropriate Senate and House of Representatives committees in the National Assembly. "BOAG will write to the Senate President and Speaker of the House stating its opposition to proposed amendments to the Stamp Duties Act. BOAG will publicly announce its opposition to the federal government's proposed amendments to the Stamp Duties Act. "BOAG will sensitise the governors of the various states concerning the detrimental effects of the federal government's proposed amendments to the Stamp Duties

Act. The consultant should present a position paper to BOAG outlining the appropriate steps to take on the matter,” the statement added. The conference also resolved to send a delegation to the National Assembly to make representations on the proposed amendment at the public hearing of the Amendment Bill adding that if the Bill crystallised into an Act, all 36 State AttorneysGeneral will file an action to declare the enactment null and void. On the payment of pensions and gratuity for retired State Judges, the Conference resolved that responsibility falls to the National Judicial Council under Sections 80, 81(3)(c), 84(1), (2), (4) and (7); 2nd Schedule, Part 1, Item 44; 3rd Schedule, Part 1, Paragraph 21(e); and 3rd Schedule Part 2, Paragraph C of the Constitution. Therefore, those provisions must be fully obeyed and implemented. On the ongoing proposed amendments to the 1999 Constitution of the Federal Republic of Nigeria, the Conference resolved to advocate the continued devolution of powers from the Federal to State Governments and the reduction of items on the Exclusive Legislative List.

the name of Masari, while Peter Obi gave INEC the name of his Campaign Director-General, Doyin Okupe. Okoye, who stated the running mates could only be substituted by writing to the commission, and attaching a sworn affidavit, said, “The law says that as a presidential candidate, you must nominate an associate to run with you and as far as the Independent National Electoral Commission is concerned, the presidential candidates have submitted their associates to run with them in the presidential election. “As far as we are concerned, there’s no form submitted by the presidential candidates, where they said, ‘we’re submitting this person’s name as a place or space holder’. The issue of space or place holder is a unique Nigerian invention, that has no place in our constitutional and legal framework. “Politically, parties’ candidates have submitted names of associates to run with them and that is the position of the law as at today and nothing has changed. For there to be

a substitution of candidate, the vicepresidential candidate must write to INEC, with a sworn affidavit, stating that he is withdrawing from the race within the time frame provided by the law. That’s the only way there can be a substitution of candidates.” Okoye also told THISDAY that though the commission was not aware of any court order on extension for registration, INEC would do everything within the law to mobilise more voter registration within the period under the view, adding that the musical mobilisation was to enhance more Nigerians to register between June 25 and June 25 . "The commission will, towards the end of June, meet to review the voter registration exercise and determine the way forward. As the INEC chairman said during the musical concert in Lagos, the Abuja musical concert is aimed at mobilising all prospective Nigerians, who have come of age to go and register." The musical mobilisation concert, Okoye, added, was expected to last five working days.

FUEL SCARCITY: IPMAN FAULTS PPMC, SAYS SALE OF PMS AT N165 NO LONGER SUSTAINABLE are supposed to use to run our businesses. We are businessmen, we take bank loans and now we are paying for money that we are not using." He stated that the prevailing scarcity of petrol was due to its members' inability to replenish their stock based on the current price of loading PMS from private depots. He recommended that based on current economic realities, the sustainable price to sell PMS should be pegged at N180 per litre. "As I am talking to you today, no private depot is selling below N162 per litre ex depot. We still need to add cost of transportation which is between N6 to N8 depending on the distance within Lagos and if it is outside Lagos, it is more than that and if you add the transportation cost to N162, it is already N170 and do not forget that this product is regulated by the federal government. “We have not even added other charges at the depots and the running cost of our stations. Our members can no longer sell at N165 and in fact, there is no reasonable businessman that can sell below N180 per litre," he lamented. According to him, most of its members have shut down their stations not because they are on

strike, but because the operating environment was no longer sustainable to do business under the current price of PMS. He pointed out that the immediate challenge to its members was the inability to load from NNPC depots, saying the only option was to depend on private depots along Apapa, Abule Ado and the Lekki Free Trade zones who he said have increased their ex- depot price to a level no longer sustainable for its members to sell at N165 per litre. He, however, stated that Nigeria was not immune to the effect of the Russian-Ukraine war, saying that Nigeria's dependence on foreign import of PMS is impacting negatively on the economy. "The war has jacked up the price everywhere across the globe, so it is not as if our members are trying to sabotage the federal government it is just that we can no longer sustain the price they are giving us. So unless the government intervenes by bringing the products to our depots for us to buy at N148.17 as against the N162. How do we breakeven? We want Nigerians to know that we are patriotic and corporate Nigerians and we want the government to do what needs to be done to address this challenge," he averred.

TUESDAY JUNE 21, 2022 • T H I S D AY

T H I S D AY ˾ TUESDAY JUNE 21, 2022

POLITICS

Acting Group Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com (08033025611 SMS ONLY)

House Moves to Override Buhari’s Veto on Party’s Statutory Delegates Udora Orizu writes that following the defeat of most lawmakers in the 9th National Assembly at the just concluded party primaries, the House of Representatives is set to override President Buhari’s veto on party’s statutory delegates

Buhari

he House of Representatives at the plenary last week resolved to file a motion for overriding President Muhammadu Buhari for failing to assent to Clause 84(8) of the Electoral Act (Amendment) Bill, 2022, which provides for Statutory Delegates. This move, came on the heels of mass failure of majority of lawmakers currently serving in the Senate and House of Representatives to secure their return tickets at the political parties primaries held last month. Following unsuccessful attempts to amend the Electoral Act in previous assemblies, lawmakers in the 9th National Assembly successfully amended the act, though they also had an initial setback over the decision to make the direct mode of primary compulsory for political parties in 2021. President Muhammadu Buhari, however, withheld his assent, citing the cost of conducting direct primary elections, security challenges, others issues and therefore insisted on direct, indirect and consensus as modes for selection of candidates for elective positions by political parties. The House thereafter re-amended the law to include the direct the options while the Senate included direct, indirect, and consensus modes. President Buhari signed eventually signed the Bill into law on February 25, amid outcry over his delayed assent to the legislation. While political parties were close to conducting primaries to elect candidates for the 2023 general elections, the lawmakers realized that the Act did not provide for members elected into public offices and executives of the parties, known as statutory delegates, to participate and vote in the conventions, congresses or meetings of parties. This means that without the provision by the law, President Buhari; Vice-President Yemi Osinbajo, members of the National Assembly, governors and their deputies, members of the State Houses of Assembly, chairmen of local government areas, councillors, executives of political parties, amongst others, would have been disenfranchised. Convening for a special session on May, 10 and 11, both chambers re-amended the law to recognize statutory delegates at primaries, congresses, and conventions of political parties. However, after National Assembly, on May 13, transmitted the bill to the President for assent, Buhari had yet to sign the amendment bill into law. With the President’s refusal to assent to the Bill, the party primaries were held by May end with statutory delegates not allowed to vote. As the primary elections took place nationwide, many lawmakers in both chambers of the National Assembly totalling over 200 in number lost the opportunity to return and vice versa. However, while some of didn’t seek reelection or withdrew from the race, there are also those who won’t be returning because they won their tickets to pursue their governorship ambition in their respective states.

Gbajabiamila

In the upper chamber, three members which includes Senate President Ahmad Lawan, Deputy Whip Ajayi Boroffice and Senator Ibikunle Amosun won’t be returning as they chose to contest for presidency, they however lost the ticket to former Lagos Governor Bola Ahmed Tinubu. Those that won governorship tickets include: Deputy Senate President Ovie Omo-Agege (APC, Delta Central); Uba Sani (APC, Kaduna State); Teslim Folarin (APC, Oyo Central) and Senator Sandy Onor (PDP, Cross River State); Aishatu Dahiru Ahmed (APC – Adamawa Central) and Emmanuel Bwacha (APC, Taraba South). Those who withdrew from the governorship race in their states are: Senate Minority Leader Enyinnaya Abaribe (PDP, Abia State); George Sekibo (PDP, Rivers East); Gershom Bassey (PDP, Cross River South); Senate Leader Yahaya Abdullahi (APC, Kebbi North); Yusuf Yusuf (APC, Taraba Central); James Manager (PDP, Delta South); and Senator Ike Ekweremadu (Enugu West). Abaribe withdrew from the race, resigned as the Senate minority leader and subsequently dumped the PDP for the All Progressive Grand Alliance to contest again for Senate. Those that are not seeking reelection include: Senators Oluremi Tinubu (APC, Lagos Central), Chukwuka Utazi (PDP, Enugu North), Emmanuel Orker-Jev (PDP, Benue North West), Oseni Yakubu (APC, Kogi Central) and Theodore Orji (PDP, Abia Central), among others. For the lower chamber, three out

Okechukwu

Igbakpa

of the 10 principal officers will not be part of the 10th assembly when it’s inaugurated next year. They include Chief Whip, Hon. Mohammed Tahir Monguno (APC, Borno), Deputy Minority Leader, Hon. Toby Okechukwu (PDP, Enugu) and Deputy Minority Whip, Hon. Adekoya Abdul-Mojeed (PDP, Ogun). Monguno decided to leave the House and contest for Senate, following the emergence of Senator Abubakar Kyari as the Deputy National Chairman of the APC. He won unopposed for one of the three senatorial seats in Borno state. Deputy Minority Leader, Hon. Toby Okechukwu’s defeat is one of the most shocking outcomes of the PDP primaries. Okechukwu who represents Aninri/Agwu/Oji River Federal Constituency in Enugu State lost the party’s ticket to Anayo Onwuegbu, with Okechukwu condemning and rejecting the process. As expected from every pre-election cycle, disputes, grievances, blames and so on always arise.

in. Those of our colleagues who have recorded successes, we wish them more successes in the general elections. Those of who have not succeeded as much, we are hopeful that between now and then, the situation may be better.” On his part, House Speaker faulted the way political parties conducted primaries leading to the failure of some members of the National Assembly to get tickets of their respective parties to seek re-election in the 2023 general elections. Gbajabiamila specifically frowned at the failure of the parties to allow statutory delegates to vote for candidates at the primaries, as the National Assembly proposed in the amendment to Section 84(8) of the Electoral Act 2022, which the President Muhammadu Buhari has yet to assent to. He opined that his colleagues who lost out at the primaries did not lose because they were rejected by their constituents, but because of the process (delegate system) which members of the House of Representatives foresaw. This delegate system, he lamented, made many lawmakers to lose out because they were not given a fair shot, as the process is not what it’s supposed to be. He however enjoined his colleagues to set aside their feelings about recent electoral experiences and focus on serving the mandate they still have. Gbajabiamila said, “The past two months have been dominated by political pursuits across the country as political parties carry out various activities to nominate their candidates for the forthcoming general elections. All of us, members of the House of Representatives, have not been exempt from this process. Unfortunately, as is always the case in electoral contests, some of us who sought the nomination of our parties to return to legislature have not gotten it. Others who sought nomination to contest other positions have also fallen short in that quest. It is rather unfortunate that the process went the way it went. I make bold to say here that the legislature has once again suffered losses. “I am aware that many of our members who are probably not coming back because of this same process. The loss really is not for members who lost, it is a loss to democracy, to the institution and to the country. When we fought for direct primaries in this house, we knew exactly what we were saying. It pains me very deeply, that the process has gone the way it has gone. I have experienced political loss. And I can speak to the feelings of loss and disappointment that arise as a result. From that experience, I wish to share with you the everlasting truth that none of us is defined by the outcome of any election at any one time. It is necessary to note that the process by which the Electoral Act became law has highlighted valuable lessons we will do well to take cognisance of. These lessons should inform and motivate us to improve the National Assembly’s law-making process.”

Lawan Urges Political Commitment, Gbajabiamila Faults Delegate System Resuming plenary on June 14 after the conclusion of primary elections, the principal officers of the National Assembly, Senator Ahmed Lawan and Speaker Femi Gbajabiamila aired their views on the outcome. President of the Senate in his remarks called on lawmakers to stay committed to the political system of their respective parties not minding the outcome of the just concluded primaries. According to him, the electoral process in the just concluded primaries have thrown up issues that must be critically looked at by the National Assembly. He said: “Some of us participated in the congresses for their Senatorial Districts, some of our colleagues went for Governorship of their states, and four of us went for the Presidency of our great country. We have recorded different results from those activities, but as politicians, it is never over until it is over. We should continue to support the political system that we believe

Two members of the Peoples Democratic Party namely the Deputy Minority Leader, Hon Toby Okechukwu and Hon Ben Igbakpa who failed to get tickets for re-election, had protested on the ﬂoor of the House last Wednesday. Igbakpa representing Ethiope federal constituency of Delta State raised a constitutional point of order, citing section 58 (8) of the 1999 constitution which empowered the National Assembly to enact laws and also override the President with two third majority of the members’ vote. He urged his colleagues to rise up and take the pen, collect signatures and override Mr. President and give Nigerians the enabling electoral law.

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T H I S D AY ˾ TUESDAY JUNE 21, 2022

POLITICS

Comprehending the Tinubu Phenomenon Segun James writes that following Sunday’s hoodlums attack in Lagos on a bus carrying journalists in the convoy of APC presidential candidate, Asiwaju Bola Tinubu, it appears that his presidential ambition is causing much stir in the polity

ince Asiwaju Bola Ahmed Tinubu, a national leader of the All Progressives Congress (APC) announced that he would contest the February 2023 presidential election, all hell let loose as the Former Lagos Governor has become the dominant figure in the political landscape. When the convoy of Tinubu was attacked Sunday at Ebute-Ero area of Lagos Island, it was not only unexpected but unprecedented. Tinubu has been a political enigma in Lagos state who calls the shot and determines the political direction of the state. If this rare action was a determinant of the new political order of the people of the Southwest, it is yet to be known, but journalists and medical personnel on the convoy of the former Governor and presidential candidate of the All Progressives Congress (APC) bore the brunt of the wrath of the hoodlums as they sustained injuries from broken glasses and suffered personal losses of their working tools. It has been a long time since Lagos residents line the streets to herald the coming of anyone to the state. If there is one man Lagosians would troop out in their numbers to welcome every time, it is Tinubu. As this is what happened when 10 days after winning the APC presidential ticket, hundreds of thousands of Lagos residents lined up the streets to welcome him back home. From Oshodi to Anthony Village to Gbagada and into the heart of Lagos in Isele-Eko, the people trooped out to welcome him. It was a carnival of some sort until the attack on the journalists and media personnel assigned to cover Tinubu’s return to base. Confidence in political leaders is at a record low in the country, but not in Lagos where one man continues to hold the ace. Sustainability suffers an image problem, yet, the Lagos voters continue to accept whatever this man throws at them. Welcome to the world of Asiwaju Bola Ahmed Tinubu. Reverence is a dirty word at the altar of politics, but this is how Tinubu is held not only in the polity but also by the voters in Lagos. The most important change in Nigeria in the last 23 years has been the successful change from one government and party to another. The first time such activity will take place in the almost 60 years of its chequered political history as a nation. But the most significant event that will take place soon is the 2023 election. It will be the deciding factor that will determine the fate of the nation as a democracy. It is fashionable to lament the rapidity and short-termism of the Nigerian political system; but without it, it is argued, Nigeria would have gone the ways of many an African country with one man ruling for as long as he wanted. Nigeria brims with colorful politicians whose showmanship cannot be equated. But none of them has matched that of Bola Ahmed Tinubu, the famed national leader of the APC. Tinubu’s first taste of power was as a Senator during the ill-fated Third Republic between 1992 and 1993. He became famous during the time of NADECO as one of its leaders in exile. But his true worth became visible when he became the governor of Lagos state. From that position, he projected himself to the leadership of the Yoruba nation, much to the chagrin of his enemies. But it is his sagacity that has kept him in political relevance since. To a lot of Nigerians, both friends and foes, Tinubu is one man who must be respected or knocked down, depending on the political divide you belong to. And if the truth be told, he is set to play another big role in 2023, but from all indications, it will surely be at a cost.

Tinubu

With a soft voice, he held Lagos tightly with an iron fist. As Governor, he survived the onslaught of Chief Olusegun Obasanjo who, as President, greatly decimated Tinubu’s party then, the Alliance for Democracy (AD), leaving him the only governor standing in 2003 out of six from South West zone In the midst of these, Tinubu pursued his own economic and political agenda and strategy, keeping Lagos from being dependent on allocations coming from the federal purse to the chagrin of Obasanjo who had vowed that winning Lagos was a “do-or-die” battle. Under his watch, Lagos prospered from generating a paltry N600 million as Internally Generated Revenue (IGR) monthly at the time he took over to making over N11 billion monthly by the time he handed over to his successor in 2007.

He frustrated Obasanjo so much that he called the presidential bluff when President Obasanjo refused to release local government councils’ funds to the state over the creation of new council areas by the state government. In his words, nothing was more important than seeing off Obasanjo, which in turn could only be achieved by the unyielding exercise of financial prudent engineering. This view was not in itself unusual, but what made it remarkable and formidable, were the clarity, elegance, intellectual power, and street sense with which it was carried out. Hence, he weathers the storm created by Obasanjo for which the President never forgave him to date. By May 29, 2023, Tinubu will be 71 years old. He would not be the oldest Nigerian to contest the presidency, but he will be one of the strings of old men that have been ruling Nigeria recently, assuming he becomes president. Although the strident call-in in recent times has been for a much younger man as president which prompted a challenge by Vice President Yemi Osinbajo during the recent primaries of the APC. In a deft political move, Tinubu defeated the Vice President, three serving governors, three

Tinubu’s ﬁrst taste of power was as a Senator during the ill-fated Third Republic between 1992 and 1993. He became famous during the time of NADECO as one of its leaders in exile. But his true worth became visible when he became the governor of Lagos state. From that position, he projected himself to the leadership of the Yoruba nation, much to the chagrin of his enemies. But it is his sagacity that has kept him in political relevance since. To a lot of Nigerians, both friends and foes, Tinubu is one man who must be respected or knocked down, depending on the political divide you belong to. And if the truth be told, he is set to play another big role in 2023, but from all indications, it will surely be at a cost.

former governors, and the President of the Senate. Today, the opposition to him is growing and some people are determined to ensure that he is not elected. These people are many and formidable themselves. To his enemies, nothing is more important than seeing off Tinubu from the political field, which in turn could be achieved only by the unyielding exercise of brute strength. This view was not in itself unusual. What makes it reasonable and formidable were the intellectual power with which they are fighting, but they have met a match in Tinubu. The first law of diplomacy according to a diplomat, is that “it is not the other side you need to worry about, but your own.” This saying is not lost on Tinubu as he finds some of his supposedly loyal lieutenants, blinded by ambition, now betraying him. Hence, he has purged his political machinery, disbanding every group and its associates. It was a clean sweep. The move by Tinubu has led to the removal of the Minister of the Interior, Rauf Aregbesola as the leader in Alimosho, the most populated local government area in the country. Also removed from the position of influence around the leader is the Minister of Information, Lai Mohammed whose son also lost his re-election bid for the Lagos State House of Assembly. If nicknames mark the measure of a man, then, Tinubu would be a giant. Over the years, he has been called Jagaban, Yoruba leader, APC national leader, the unelected but still continually ruling governor of Lagos state, and most endearingly, the Asiwaju. This multitude of names reflects something of the controversy that has long surrounded the populist radical, who is suddenly the one person that must not be allowed to take power. In the Nigerian political field, the gulf between sentiment and reality is thin, very thin indeed. In politics, culture splits weirdly. Politics encourages one another to move across the political divide without emotion. You can go and come back as you please. What matters is your interest at any given time. Examples abound, since 2007, former Vice President Atiku Abubakar has traversed many political parties and returned, all in the bid to actualize his greatest desire of ruling Nigeria. In the 2023 election, Atiku, a friend of Tinubu will be his main opposition. But who between the duo will win the election? That’s the question that will be answered by February 2023 when the presidential election will hold in the country. To the followers of Tinubu, the nation is facing a crisis, a crisis of effective leadership. Today, decisions are being made based, sadly, on political dogma. The guiding principles, they insist, that can make a country great like competence, capacity, and capability, which will foster innovation, create jobs, and provide more economic opportunities for the people have been overtaken by mindless tribalism. Policies are based on ethnic and religious considerations and unrealistic beliefs while the nation’s competitiveness in the community of nations weakens. This, they reiterated is what Tinubu is determined to change. This is what he represents. In politics goes a proverb: “politics is a game riddled with a circle of men holding a gun to each other’s head, ready to pull the trigger at the first opportunity.” For Tinubu, this scenario is all too familiar; and not surprisingly, he survived it when some of his former political soul mates challenged him to a duel in the quest for the presidency. He has survived many political adversaries, prosecutions, and betrayals in the past, more especially in the few weeks leaving pundits to wonder, how does he do it?

TUESDAY JUNE 21, 2022 • T H I S D AY

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T H I S D AY TUESDAY JUNE June 21, 2022 Tuesday 21, 2022 Vol 27. No 9935 TR

WAS LAWAN A STRANGER TO NIGERIANS BEFORE HIS EMERGENCE AS SENATE PRESIDENT?

See page 20 NIGERIA’S PRESIDENTIAL STANDARD BEARERS AND THE ROAD TO 2023 ABIODUN KOMOLAFE writes that the incoming government must urgently address the prevailing economic hardship in the country See page 20 OSAGIE IZE-IYAMU AT 60 KINGSLEY OSADOLOR pays tribute to Ize-Iyamu, pastor, politician and administrator See page 21 NIGERIA AND KENYA ELECTIONS WITHOUT DATA Research and data give rare insights on roads to development, contends OKELLO OCULI See page 21 EDITORIAL THE PENSION OF RETIRED WORKERS

See page 22

& RE A S O

opinion@thisdaylive.com

www.thisdaylive.com

He was not, argues OLA AWONIYI

UT H

Politicians should be more creative in engaging the citizens, argues PAUL NWABUIKWU

THE KINGSLEY AND DUMEBI SHOW A few days ago, I caught Dumebi Kachikwu, the newly minted presidential candidate of the African Democratic Congress (ADC) on Channels TV responding to the recent controversy around his emergence as WKH SDUW\·V ÁDJEHDUHU It will be recalled that soon after the announcement of his victory at the party’s convention, the process was denounced as corrupt by his main rival, former deputy governor of the Central Bank Professor .LQJVOH\ 0RJKDOX DQG RWKHU DVSLUDQWV 0U .DFKLNZX ZDV DFFXVHG RI EX\LQJ RͿ GHOHJDWHV 0RJKDOX IROORZHG XS KLV FULWLFLVP – “I won’t endorse obscene corruption” - by resigning his membership of the party in SURWHVW +LV UHDFWLRQ LV XQGHUVWDQGDEOH .DFKLNZX·V election was not just a surprise; it was VKRFNLQJ $JDLQVW H[SHFWDWLRQV KH KDQGLO\ defeated Moghalu, the party’s most-high SURÀOH PHPEHU E\ WR YRWHV ,Q RWKHU words, Kachikwu got almost triple the number RI YRWHV WKDW 0RJKDOX REWDLQHG ,W ZDV E\ DQ\ GHÀQLWLRQ D WURXQFLQJ 5HPDUNDEO\ PRVW Nigerians were not even aware that the victor was a member of the party before he blew the Professor of International Business and Public 3ROLF\ DZD\ DW WKH SDUW\·V FRQYHQWLRQ ([SHFWHGO\ .DFKLNZX \RXQJHU EURWKHU RI IRUPHU 0LQLVWHU RI 6WDWH 3HWUROHXP 5HVRXUFHV Emmanuel Ibe Kachikwu disagreed with his DFFXVHUV GXULQJ WKH WHOHYLVLRQ DSSHDUDQFH He declared that his victory was the product of his robust wooing of delegates with his great ideas and dynamic vision for the party DQG FRXQWU\ QRWKLQJ HOVH +H DOVR FODLPHG that he told the delegates the night before the elections that he had no intention of paying IRU WKHLU YRWHV 6RPH RI WKH GHOHJDWHV KH claimed, wept when he gave them the bad QHZV If his colourful tale is true, the tears of the ADC delegates were no doubt inspired by the dollar bazaars that held the nation spellbound and sent the Naira on a downward spiral GXULQJ WKH UHFHQW 3'3 DQG $3& FRQYHQWLRQV The reality of getting so close to paradise and coming out with nothing must have been a bit too much for the hardworking ADC delegates ZKHQ WKHLU KRSHV ZHUH GDVKHG But Kachikwu, a smooth, glib talker was QRW GRQH \HW $IWHU UHIXWLQJ WKH DFFXVDWLRQV KH WULHG WR WXUQ WKH WDEOHV RQ KLV PDLQ ULYDO It was actually Moghalu, he said, who bribed delegates throughout the process and continued sending them monetary LQGXFHPHQW XQWLO WKH ÀQDO KRXUV EHIRUH WKH YRWLQJ 7KH SURRI WKH GHOHJDWHV ZKR 0RJKDOX DOOHJHGO\ SDLG RͿ KDG VKDUHG WKH HYLGHQFH ZLWK KLP .DFKLNZX ´, KDYH WKH HYLGHQFH KHUH LQ P\ SKRQH I can show you,” he told the bemused interviewer, Seun Okunbaloye who didn’t VHHP WRR XQLPSUHVVHG 6LJQLÀFDQWO\ .DFKLNZX GLG QRW FODULI\ LI the honest or remorseful delegates sent back

the bribe before or after telling him about the ZLFNHG HͿRUWV WR FRUUXSW WKHP Kachikwu’s story sounds a bit “too sweet”, DV ZH VD\ LQ WKHVH SDUWV ,Q WKH FRXUVH RI WKH interview, he had let slip that he hosted the delegates the night before the voting at an event where, presumably, only food was VKDUHG +H DOVR DGPLWWHG WKDW KH DORQJ with other aspirants, paid for the delegates DFFRPPRGDWLRQ 7KHVH UHYHODWLRQV GLGQ·W TXLWH ÀW LQ ZLWK KLV PXVFXODU SURFODPDWLRQV RI LPSHFFDEOH LQWHJULW\ $V 6KDNHVSHDUH would have said, the gentleman doth protest D ELW WRR PXFK It’s too early to say if the Kingsley and Dumebi show will go beyond these initial skirmishes or, more likely, peter out like other 1LJHULDQ SVHXGR FRQWURYHUVLHV 0RJKDOX also hasn’t said much since his resignation from ADC, although his campaign website, 0RJKDOX QLJHULD RUJ UHPDLQV DFWLYH 6R IDU KH KDV NHSW DQ\ IXWXUH SODQV FORVH WR KLV FKHVW Yesterday, he tweeted a photo of himself VLWWLQJ UHOD[HG LQ D UHG WKURQH OLNH FKDLU DQ assortment of newspapers in his lap with WKH FDSWLRQ ´+DSS\ ZHHNHQG &KLOO 5HOD[ µ 7KH PHVVDJH LV FOHDU ´/LIH JRHV RQ ,·P QRW ERWKHUHG ,·YH SXW WKH XQKDSS\ HYHQWV RI WKH UHFHQW SDVW EHKLQG PH µ One hopes that the professor who holds the traditional title of Ifekaego (more valuable than money) of Nnewi has not given up on SROLWLFV :KLOH LW ODVWHG KLV FDPSDLJQ IRU president captured the imagination of a small but passionate number of supporters and fans who bought into his vision of a reformed, restructured and productive Nigerian economy which works for all citizens, not MXVW D IHZ IDFW FDWV 0RJKDOX ZKR ÀUVW FDPH RXW WR VHHN WKH SUHVLGHQF\ ÀYH \HDUV DJR under the banner of his previous party, Young Progressives Party had attracted positive reviews and even endorsements by his former ERVV DW WKH &%1 H[ (PLU RI .DQR 6DQXVL /DPLGR 6DQXVL 1REHO /DXUHDWH 3URIHVVRU :ROH 6R\LQND DQG WKH 2RQL RI ,IH $GH\H\H (QLWDQ 2JXQZXVL DPRQJ RWKHUV Now that the Moghalu political momentum has been halted, hopefully the opportunity to test the electoral relevance of his ideas has QRW EHHQ ORVW IRUHYHU 3HUVRQDOO\ HYHQ EHIRUH his defeat, I had doubts about his ability to translate his somewhat elitist campaign into HOHFWRUDO FDSLWDO DQG XOWLPDWH YLFWRU\ 7KHUH LV QRWKLQJ ZURQJ ZLWK VHULRXV LGHDV , KDYH D IHZ P\VHOI 1LJHULD QHHGV VHULRXV ULJRURXV people in key leadership positions to confront WKH PDQ\ VHULRXV H[LVWHQWLDO WKUHDWV WR WKH FRXQWU\·V SROLWLFDO DQG HFRQRPLF VXUYLYDO The challenge is to translate these ideas

Barack Obama taught at Harvard but he is much better known for ‘Yes, we can!’

into relatable messages that resonate with the SXEOLF LQ D SRRU DQG SRRUO\ HGXFDWHG FRXQWU\ 0RJKDOX KDV VR IDU QRW DFKLHYHG WKLV +LV professorial achievements and intellect, not WKH VROXWLRQV KH RͿHUV ZDON LQWR WKH URRP EHIRUH KH GRHV 7KH ZKLͿ RI WKH LYRU\ WRZHU and that sense of detachment and distance WKDW JR ZLWK LW GRJV KLV HͿRUWV The easy answer is to blame the Nigerian public for lack of discernment, for its failure to DSSUHFLDWH WKH YLUWXHV RI ´VHULRXV FDQGLGDWHVµ :K\ GRQ·W 1LJHULDQV OLVWHQ WR FDQGLGDWHV OLNH Moghalu the same way they swoon over Big Brother and the latest music and antics RI %XUQD %R\ 'DYLGR :L]NLG DQG )ODYRXU" But the question, however logical, is quite ZURQJKHDGHG ,W·V WKH MRE RI SROLWLFLDQV WR ÀQG FUHGLEOH DQG FUHDWLYH ZD\V RI UHDFKLQJ engaging and persuading a critical mass of WKH FLWL]HQV WKH\ ZLVK WR VHUYH 7KH FLWL]HQV DUH the customers who are, of course, kings and TXHHQV 3ROLWLFLDQV KRZHYHU DFFRPSOLVKHG must distil policy priorities into relatable and easy to absorb messages, then reach down to engage the citizens and persuade them to support the vision and ideas with votes on HOHFWLRQ GD\ $ JRRG H[DPSOH RI HͿHFWLYH PHVVDJLQJ comes from communism, an intellectually dense ideology that an inspired propagandist transformed into a revolutionary charge that VKRRN WKH ZRUOG ´:RUNHUV RI WKH ZRUOG XQLWH <RX KDYH QRWKLQJ WR ORVH EXW \RXU FKDLQVµ And it is not only in poor societies that distilled, relatable political messaging and VW\OH DUH QHHGHG (YHQ LQ WKH ULFK ZHVW politicians on the stump do away with suits and ties in favour of rolled up sleeves, press WKH ÁHVK LQ VWDGLXPV DQG IDFWRULHV DQG DGRSW \RXWK IULHQGO\ SRSXODU VORJDQV 7KH\ DOVR play down academic accomplishments and ODQJXDJH ZKLFK YRWHUV PLJKW ÀQG XQGXO\ ´VXSHULRU· DQG RͿ SXWWLQJ $ JRRG H[DPSOH LV IRUPHU *HUPDQ Chancellor Angela Merkel obtained a GRFWRUDWH LQ TXDQWXP FKHPLVWU\ LQ ZKLFK PRVW RI WKH ZRUOG LV QRW DZDUH RI Barack Obama taught at Harvard but he is PXFK EHWWHU NQRZQ IRU ´<HV ZH FDQ µ 7KH strange thing about intellectual and academic achievements is that people might respect you for “big grammar” in a general sense but may not want you as a leader because you remain fundamentally an unknown, XQUHODWDEOH TXDQWLW\ One hopes that Moghalu hasn’t given up on Nigerian politics and that he will make some much needed changes in communicating his XVHIXO ULJRURXV LGHDV DV KH SRQGHUV KLV QH[W VWHSV 1LJHULD QHHGV DOO WKH VHULRXV SROLWLFLDQV LW FDQ ÀQG HYHQ LI WKH\ PLJKW QHHG WR EH D little less serious and a bit more creative in engaging and persuading an angry, cynical DQG SRRUO\ HGXFDWHG SXEOLF Nwabuikwu is a member of THISDAY Editorial Board

2 20

T H I S D AY

He was not, argues OLA AWONIYI

WAS LAWAN A STRANGER TO NIGERIANS BEFORE HIS EMERGENCE AS SENATE PRESIDENT? I might have titled this piece: “Re: Once again, most legislators will not return to National Assembly,” because it was prompted by an article under that title written by the highly respected academic, rights activist and columnist, Prof. Jibrin Ibrahim, and published by some media RXWÀWV RQ )ULGD\ WK -XQH +RZHYHU I decided otherwise because Prof. Ibrahim’s commentary, as usual, made many points that I consider valid and thus have no issue with. But an aspect of the article is capable of leaving the reader with a wrong impression, and that is what I have set out here to

correct. Which means this piece is actually not a rejoinder, in the full sense of that word, to the article by the good Professor. Just an amendment to it, as they would have GHVFULEHG WKLV HͿRUW RI PLQH LQ 3DUOLDPHQW The focus of Prof. Ibrahim’s article was the stranglehold of state governors on their political parties in their states and how this FRQWLQXHV WR UHÁHFW LQ WKH KLJK WXUQRYHU of lawmakers, especially in the National Assembly. The writer mentioned the Senate President, Ahmad Lawan, as one of a few lawmakers who have had long tenures in the National Assembly, despite the harsh political atmosphere he observed. His misstep was in how he explained Lawan’s survival. Prof. Ibrahim wrote: “The Senate President, Ahmad Lawan, is the most spectacular exception that breaks the rule. He has been in the National Assembly since ÀUVW LQ WKH +RXVH RI 5HSUHVHQWDWLYHV and subsequently in the Senate. For some reason, successive governors of Yobe State have always given him the green light to stay on. I wonder why? Could it be linked to his style and record of being unobtrusive and inconspicuous as a legislator who did nothing and was therefore perceived as non-threatening? What is clear is that until he became the Senate president, hardly anyone noticed him. He was discovered when he became Senate president three years ago and then broke the Richter scale of political ‘arrivism’ when the APC chairman announced him to be the ‘presidential’ choice of President Buhari.” I would have ignored it if those assertions were made by an undistinguished writer. But they are hard to overlook in the wellread column of a Professor of Political Science who is universally respected for the fairness and profundity of his opinions. It is atypical of the columnist to claim that Lawan was unknown prior to his emergence

as the 14th President of the Senate in 2019, because that claim is not true. And it is not fair to say Lawan was “an unobtrusive and inconspicuous legislator” as of 2019. Those claims left me curious because, more than most people, Prof. Ibrahim is in a position to know better. He knew Lawan was the choice of his party, the APC, for election as Senate President in 2015, based RQ KLV UHSXWDWLRQ DV RQH RI WKH PRVW HͿHFWLYH and better known opposition lawmakers in the Fourth Republic by then. Of course, Prof. Ibrahim would remember that Lawan was the Senate Leader before his emergence as Senate President. So, how can the Senate Leader be “unobtrusive and inconspicuous”? Even if a person was randomly appointed to the position, the role would haul him out of obscurity. $VLGH IURP WKH SUHVLGLQJ R΀FHU WKH QH[W most visible in parliament is the Majority Leader, who leads in championing the cause of their party’s government. The Majority Leader harnesses support for executive bills and government policies in parliament. Parties hardly assign such a critical role to a greenhorn, talkless of an “unobtrusive and inconspicuous” member of parliament. And Lawan did not step into that position from darkness. Before his election to the Senate, he had spent two terms of eight years in the House of Representatives, ZKHUH DW GLͿHUHQW WLPHV KH ZDV SULYLOHJHG to chair critical committees like Agriculture DQG (GXFDWLRQ despite the fact that he was in the opposition at those times. Such committees are usually chaired by members of the majority party in 3DUOLDPHQW VR LW LV D UHÁHFWLRQ RI ZKDW KLV colleagues thought of him to have accorded him those privileges. $W WKH 6HQDWH WR ZKLFK KH ZDV ÀUVW HOHFWHG LQ /DZDQ KHOG WKH YHU\ LPSRUWDQW chair of the Public Accounts Committee IRU HLJKW \HDUV DQG WKH 'HIHQFH &RPPLWWHH IRU WZR \HDUV $OO those were before he became the Senate /HDGHU 'RHV WKDW SURÀOH ÀW WKH GHVFULSWLRQ of the “unorbtrusive and inconspicuous”? I cannot understand why Prof. Ibrahim tried to serve his readers the impression that a man with such resume and history in Parliament was unknown before his emergence as the President of the Senate and Chairman of the National Assembly. 'LG KH IRUJHW /DZDQ·V SROLWLFDO MRXUQH\ RXW of familiarity? Lawan spent 10 years in the academic and acquired a doctorate in Remote Sensing and Geographic Information System before he ventured into politics in 1998. That year, he was elected the pioneer vice chairman of the defunct All People’s Party (APP) in Yobe State and in 1999, was the Secretary of the Electoral Committee of the APP National Convention which held in Abuja. As I was quick to say at the start, I have no quarrel whatsoever with the focus RI 3URI ,EUDKLP·V VDLG DUWLFOH RI -XQH which addressed two phenomena that have become a malaise that needs to be checked for the growth of democracy in Nigeria. Awoniyi is Special Adviser on Media to Senate President

TUESDAY JUNE 21, 2022

ABIODUN KOMOLAFE writes that the incoming government must urgently address the prevailing economic hardship in the country

NIGERIA’S PRESIDENTIAL STANDARD BEARERS AND THE ROAD TO 2023 The Independent National Electoral Commission (INEC)-monitored party presidential primary elections have come and gone and, as the saying goes, the rest is history. With various candidates pushing private agenda, diverse groups’ interests EHLQJ DUWLFXODWHG DQG GLͿHULQJ LQVWLWXWLRQDO preferences already being canvassed, all eyes are now on the 2023 General Election. In all, interesting times await Nigerians! That said, it is no longer news that, no PDWWHU KRZ GL΀FXOW LW LV WR PHDVXUH WKH LPSDFW of religion or religious beliefs in politics in Nigeria, it remains contestable in the public domain. However, the interesting thing is that the candidates of the two foremost political parties are Muslims. As things stand, adherents of traditional and other religions may have to re-evaluate their options, and settle for a compromise. Well, it once happened in Nigeria, with an all-Muslim ticket of MKO Abiola and Babagana Kingibe in the June 12, 1993 presidential election. Except we are being economical with the truth, most of the current presidential contenders have pockets deep enough to prosecute a presidential election of Nigeria’s ‘standard’. Most of them are also popular in their respective domains. So, between now and the election, what is left is for the contestants to test their national appeal and sell their visions to the electorate. Right now, long-term policy statements are redundant with the people. Rather, Nigerians will most probably embrace H[HFXWLYH SURQRXQFHPHQWV WKDW DUH HͿHFWLYH and feasible for all to see. Gone are the days when the intelligentsia would want to pin down a political party, based on ideology. The word, ‘ideology’, is no longer marketable in Nigeria’s political lexicon. As a matter of fact, some political scientists have argued that the concept is dead and buried! But, again, it’s been argued that ideologies don’t die; they may have lost their currency; yet, they still exist - maybe, in their latent forms – to help shape ideas of political parties’ manifestos. Remember Edwin Madunagu and fellow comrades in the early days of the introduction of the Marxian dialectics into the academia in Nigeria. For some of these academics, as it was with their colleagues in other parts of the world, the understanding of extant ‘political ideology’ of a state determines the social development trajectory and its pace in any given society. In the national dailies, Madunagu would clinically subject government policies to the critical analysis and scrutiny eye of the postulates of ‘dialectical materialism’ of Karl Marx. Thus, he would domesticate the Marxian theory and use it to examine the social condition of living of the average Nigerian. Arguably, political manifestos and government policies were adjudged good or bad, based upon the outcome of the review of these academics, irrespective of the type or mode of government: military or civilian. Unfortunately, the trend in public administration has shifted towards market economy; and emphasis on political ideology has waned overtime. When Ibrahim Babangida came, the situation gravitated toward “a little to the left and a little to the right”, with the centre becoming totally disoriented and confused. By a twist of fate, Nigerians don’t even remember the meaning of ideologies or what they are all

about again. The sad side is that political parties don’t even feel compelled to come with ideology-laden manifestos again! As at today, the Nigerian society has ebbed to the point of a home-grown anomie; and the only way to arrest it is to truthfully arrest it. By that, we mean a total overhaul, which starts even from the family. Impliedly, whoever wants to rule Nigeria must have a concrete, benchmarked blueprint that must be executable in four years; and must hit the ground running! We have had enough of ‘we shall’, ‘we will’ DQG VLPLODU VWXͿV ZKLFK QHYHU FDPH WR fruition. So, let whoever wins not come up with the present style which thrives mostly on feigned promises. A paradigmatic shift in public administration approach is inevitable. Take for instance, Nigerians will want to know what a Bola Tinubu-led government will do to improve the security situation in WKH ÀUVW WKUHH PRQWKV RI KLV SUHVLGHQF\ ,I not, his presidency will be in trouble. To avoid that, all measures that will make terrorists, bandits, kidnappers, even common thieves come to terms with the IDFW WKDW WKHUH LV D QHZ VKHULͿ LQ WRZQ PXVW be explored. If he wants to “lead from the front”, let him put on the uniform and lead his troops against the enemies of our land. If Sambisa Forest is harbouring our enemies, let him put on his armour and reclaim it. If he is going to hire foreign Cosmopolitan police, or mercenaries from Sudan, let him go ahead and get them to do the job. If he is going to bring the Sunday Igbohos of this world back to Nigeria and engage them against the murderous Fulanis and killer herdsmen, let him know that there is no time to waste again. Needless to repeat that the long overdue improvement in terms of security can no longer wait! No doubt about it, Nigeria is wounded DQG 1LJHULDQV DUH VXͿHULQJ ,Q DQ enveloping ecology of poverty, where food insecurity is highly pronounced, citizens are dying young, courtesy of preventable diseases. So, it behoves the incoming government to address the economic hardship currently driving Nigerians mad. The frightening truth is that, if the number of the children of school age currently out RI VFKRRO LV QRW UHGXFHG ZLWKLQ WKH ÀUVW three months of such a presidency, nobody will say that the government is doing anything. A time like this in the life of Nigeria does not call for external borrowings that are not tied to feasible projects. Besides, the day our leaders realize that all they need to do to have headway is managing debts, not surpluses that will end up in some people’s pockets, the better for the system. But if we continue in our old ways, then, Nigerians have a long way to go! One of the greatest problems confronting Nigerians is that our youths are not only unemployed but also unemployable because they lack relevant skills. It is even unfortunate that ability to read and write among Nigerian graduates can no longer be taken for granted. And that’s a big shame! Komolafe writes from Ijebu-Jesa, Osun State

321

T H I S D AY TUESDAY JUNE 21, 2022

KINGSLEY OSADOLOR pays tribute to Ize-Iyamu, pastor, politician and administrator

OSAGIE IZE-IYAMU AT 60 , UHMRLFH ZLWK D WUXH IULHQG EURWKHU DQG LQGRPLWDEOH SHUVRQDOLW\ 3DVWRU 2VDJLH ,]H ,\DPX 32, RQ WKH MR\RXV RFFDVLRQ RI KLV WK ELUWKGD\ $WWDLQLQJ WKH 'LDPRQG $JH LW LV RIWHQ VDLG PDUNV WKH IRUPDO DGPLWWDQFH LQWR WKH (OGHUV· &OXE <HW IRU \HDUV 2VDJLH has displayed wisdom and acts of leadership that should have earned him a vantage seat DPRQJ WKH HOGHUV +H GHPRQVWUDWHV ÀGHOLW\ WR IDLWK IDPLO\ DQG IULHQGV ,QGHHG KH KDV D

JLIW IRU ZLQQLQJ DQG NHHSLQJ IULHQGV D KDELW XQGHUSLQQHG E\ OR\DOW\ 32, HDVLO\ VSRWV WKH talent in others and does not hesitate to tap into such pool of capacity. 2VDJLH DQG , VHUYHG LQ WKH VDPH government at a time of high political tension arising from the factionalisation of the then UXOLQJ 3HRSOH·V 'HPRFUDWLF 3DUW\ 3'3 LQ (GR 6WDWH +H ZDV 6HFUHWDU\ WR WKH 6WDWH *RYHUQPHQW ZKLOH , ZDV &RPPLVVLRQHU IRU ,QIRUPDWLRQ DQG 2ULHQWDWLRQ :H KDG PXWXDO UHVSHFW IRU HDFK RWKHU D KHDOWK\ ZRUNLQJ UHODWLRQVKLS DQG GHYHORSHG D friendship that has not waned. He had an H[FHOOHQW JUDVS RI JRYHUQPHQWDO DͿDLUV ZLWK ODWLWXGH WR IXQFWLRQ DV DQ HͿHFWLYH

He demonstrates ﬁdelity to faith, family, and friends. Indeed, he has a gift for winning and keeping friends, a habit underpinned by loyalty clearing house and Cabinet Secretary. The latitude derived from the trust and FRQÀGHQFH UHSRVHG LQ KLP E\ WKH *RYHUQRU $PRQJ WKH PDQ\ LVVXHV ZH KDQGOHG I recall how his timely and wise counsel VWHHUHG D VWUDWHJ\ FRPPLWWHH RͿ D proposed course of action that might have complicated matters during the 2005 ,JXHEHQ /RFDO &RXQFLO FULVLV IROORZLQJ the forceful takeover of the secretariat by a suspended Chairman. I should also add WKDW RQH RI WKH UHPDUNDEOH SURMHFWV ZH ZRUNHG MRLQWO\ RQ ZDV WKH FUHDWLRQ RI WKH (GR 6WDWH 2LO DQG *DV 3URGXFLQJ $UHDV 'HYHORSPHQW &RPPLVVLRQ ('623$'(& +H FKDLUHG WKH FRPPLWWHH RI ZKLFK , ZDV D PHPEHU WKDW UHVHDUFKHG LQWR DQG SUHSDUHG WKH IUDPHZRUN RI WKH %LOO WKDW OHG WR WKH HVWDEOLVKPHQW RI ('623$'(& LQ WKH twilight of the administration.

It is instructive to contemplate how 3DVWRU 2VDJLH FRPELQHV KLJK JUDGH ZRUN LQ *RG·V YLQH\DUG ZLWK SROLWLFV DQG EXVLQHVV He is a relentless political organiser with SHQHWUDWLQJ LQVLJKWV LQWR HOHFWLRQ PHFKDQLFV and his two unsuccessful attempts at becoming Governor point less to his statewide popularity than the overwhelming LQÁXHQFH RI H[WUD WHUULWRULDO SROLWLFDO IRUFHV RQ WKH RQH KDQG DQG WR WUHDFKHU\ LQ WKH

usually slippery terrain of partisan politics. His understated lifestyle speaks to a lack of extravagance that is at variance with the ÁDPER\DQFH RI VRPH FRQWHPSRUDULHV LQ similar circumstances. :KHQHYHU WKH QHHG DULVHV 2VDJLH LV JHQHURXV RI KLV WLPH H[SHULHQFH DQG LQÁXHQFH LQ DLG RI KLV IULHQGV DQG DVVRFLDWHV $ERXW D GHFDGH DJR , KDG D UXQ LQ ZLWK some land grabbers over an unencumbered ODQGHG SURSHUW\ LQ %HQLQ , FDOOHG 32, and briefed him about the location of the property and the identity of the threatening trespassers who were youths in the area. 2VDJLH VXPPRQHG D VLW GRZQ DW KLV UHVLGHQFH , ÁHZ LQWR WRZQ 7KH PHHWLQJ LQYROYHG P\VHOI 9HQHUDEOH ,JKRGDUR DQG some of the youth leaders. The matter was UHVROYHG ZLWK WKH ÀUP XQGHUVWDQGLQJ WKDW the trespassers should steer clear—and that has not been violated ever since. An assessment of Nigeria’s Fourth Republic since 1999 cannot fail to note the rampant lack of internal party democracy and the concomitant rise of godfatherism with its signature arbitrariness and imposition of candidates whether at congresses or during general elections. At JUHDW SHUVRQDO ULVN DQG GLVFRPIRUW 2VDJLH spearheaded the audacious challenge to JRGIDWKHULVP LQ (GR SROLWLFV +LV *UDFH Group morphed into a vanguard of political mobilisers that gave verve and meaning to the group’s slogan: “No Man Is God.” The legacy of that struggle endures as a constant UHPLQGHU RI WKH LPSHUDWLYH RI HͿHFWLYH political party management. The road ahead is far and pregnant with SRVVLELOLWLHV 6R KHUH·V ZLVKLQJ 3DVWRU 2VDJLH PRUH JUDFH DQG EOHVVLQJV IURP WKH $OPLJKW\ WR LQFUHDVH 2VDJLH·V PLOHDJH LQ DQ HYHQWIXO MRXUQH\ WKURXJK OLIH +DSS\ WK %LUWKGD\³DQG PDQ\ PRUH SOHDVDQW returns. Osadolor, Esq., Good Morning Nigeria, Nigerian Television Authority

Research and data give rare insights on roads to development, contends OKELLO OCULI

NIGERIA AND KENYA ELECTIONS WITHOUT DATA David Apter once attributed Kwame Nkrumah’s huge popularity among ‘’small people’’ Ghanaians to what he called ‘’CHARISMA’’. The term meant that special steam which rises out of certain individuals and generates excitement in masses of people. This special appeal was said to be transitory as a source of legitimacy for a government led by such a leader. Apter was silent about impacts of decades of colonial taxes without people’s consent; quantities of cocoa and gold exported out from the labour and lands of the people while WKHLU EHQHÀWV ZHUH HQMR\HG E\ %ULWLVK EXVLQHVV LQGXVWULHV ZRUNHUV DQG WKH JHQHUDO HFRQRP\ Cocoa growers had refused to sell their cocoa seeds because the low prices paid by %ULWLVK FRPSDQLHV GLG QRW PDWFK WKH HQHUJLHV WKH\ ZHUH VSHQGLQJ LQ JURZLQJ KDUYHVWLQJ and processing pods and seeds. To the Ashanti people the humiliation of WKHLU .,1* WKH 6$17(+(1( VWDQN WR WKH highest heavens in hearts and minds. Wars between communities with guns VXSSOLHG E\ (XURSHDQ PHUFKDQWV IRU WKH capture and sale of victims for shipment into VODYHU\ KDG DOVR OHIW GHHS VFDUV SRSXODWLRQV stagnation and decline. It was for all these that Nkrumah’s call IRU ¶·)5(('20 12:·· DURXVHG ¶VOHHSLQJ warriors’ in people. Unlike educated lawyers ZKR VSRNH (QJOLVK ¶·WKURXJK WKHLU QRVHV·· Ghana’s market women recognised true PDQKRRG LQ .ZDPH 1NUXPDK ZKR VSRNH WR them in FANTI and GA languages. He was the Real Man they secretly longed for to save them from oppression by foreign rulers. Kwame Nkrumah and his political SDUW\ WKH &RQYHQWLRQ 3HRSOHV 3DUW\ &33 won the election even while he was in prison for calling on people to hate colonial

Doyin Okupe, a key staﬀ for Peter Obi, the presidential candidate of Labour Party, is among those who assert that mass frustrations over unemployment, killings by ‘’Unknown Gunmen’’ and Islamists, rising cost of food, have cumulatively been blamed on older generation politicians

dictatorship. $PLOFDU &DEUDO WKH OHDGHU RI WKH ZDU DJDLQVW 3RUWXJXHVH RSSUHVVLRQ E\ SHRSOHV RI *XLQHD %LVVDX DQG &DSH 9HUGH WDXJKW WKH OHVVRQ RI doing research about living conditions of the people to learn and tap what will appeal to WKHP $V DQ $JURQRPLVW WRXUV DURXQG WKH country enabled him to hear views and see daily experiences of various classes of people. /HRSROG 6HGDU 6HQJKRU LQ 6HQHJDO 0DOODP Aminu Kano in Nigeria and Julius Kambarage Nyerere in Tanganyika also travelled to village communities; ate and slept among host villagers under moonlight during Harmattan seasons. These experiences won support and gave them rare insights about roads to development.

In the campaign for Kenya’s August SUHVLGHQWLDO HOHFWLRQV 9LFH 3UHVLGHQW William Ruto has presented the contest as that between ‘’Sons of the Aristocracy’’ and WKH FKLOGUHQ RI ¶·7KH :UHWFKHG RI WKH (DUWK· 8KXUX .HQ\DWWD WKH 3UHVLGHQW DQG VRQ RI

-RPR .HQ\DWWD .HQ\D·V ÀUVW LQGHSHQGHQFH OHDGHU LV RSHQO\ VXSSRUWLQJ 5DLOD 2GLQJD the son of Jomo Kenyatta’s opposition SROLWLFLDQ -DUDPRJL 2JLQJD 2GLQJD 'HSLFWLQJ 5DLOD 2GLQJD DV D VRQ RI DQ ‘’aristocrat’’ is not plausible. His father led demands for the release of Jomo Kenyatta from a detention based on the false accusation that he was the leader of the Mau Mau ZDU DJDLQVW %ULWLVK LPPLJUDQWV RFFXS\LQJ KIKUYU land. Kenyatta rewarded him by dismissing him IURP WKH 9LFH 3UHVLGHQF\ DQG EDQQLQJ KLP into political silence. Ruto has been accused of owning over 10 commercial properties. He is charged of post-2007 election violence targeting Gikuyu ZKR SXUFKDVHG ODQG HYDFXDWHG E\ (XURSHDQ LPPLJUDQWV +LV .$/(1-,1 SHRSOH YHQWHG their bitterness by killing Kikuyu farmers and burning down crops and other properties. Data from this historical drama is in the election campaign. 8QGHU $UDS 0RL·V SUHVLGHQF\ .$/(1-,1 HOLWHV SUDFWLFHG WKH FRUUXSWLRQ RI ¶·,7 ,6 285 7851 72 ($7·· V\QGURPH -RPR .HQ\DWWD·V DOOLHV LQKHULWHG LW IURP WKH %ULWLVK 5XWR DQG Uhuru Kenyatta are sons of an ‘Aristocracy of Corruption’’. Critics allege that this Ruto and Kenyatta WUDLW LV VKDUHG E\ %ROD 7LQXEX DQG $WLNX Abubakar. Wide opposition to this political record fuelled the horrendous post-election violence in Kenya from December 2007 to )HEUXDU\ 2YHU RQH WKRXVDQG SHRSOH were killed. Similar frustration fuelled the YLROHQFH LQ WKH ¶·(1' 6$56·· SURWHVWV arson and killings across Nigeria. 'U 'R\LQ 2NXSH D NH\ VWDͿ IRU 3HWHU 2EL WKH SUHVLGHQWLDO FDQGLGDWH RI /DERXU 3DUW\ LV DPRQJ WKRVH ZKR DVVHUW WKDW PDVV IUXVWUDWLRQV RYHU XQHPSOR\PHQW NLOOLQJV E\ ¶·8QNQRZQ *XQPHQ·· DQG ,VODPLVWV ULVLQJ FRVW RI IRRG KDYH FXPXODWLYHO\ EHHQ EODPHG on older generation politicians. :LWKRXW LQWHQVLYHO\ UHVHDUFKHG GDWD LW LV FODLPHG WKDW WKH 3HRSOHV 'HPRFUDWLF 3DUW\ 3'3 DQG $OO 3URJUHVVLYHV &RQJUHVV $3& KDYH ORVW SRSXODU VXSSRUW DQG 3HWHU 2EL LV the new ‘’Redeemer’’.

Prof Oculi writes from Abuja

4 22

T H I S D AY

TUESDAY JUNE 21, 2022

EDITORIAL

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

THE PENSION OF RETIRED WORKERS PenCom should apply stricter measures to enforce compliance with the act

major attraction of working in both the private and public sectors in any country LV WKH EHQHÀW RI UHFHLYLQJ SHQVLRQ DIWHU retirement. But over the years, such prospect has become not only problematic but also uncertain in Nigeria. In the public sector, for instance, the failure of government to meet the pension expectation of retirees has shattered the plans of many as well as inducing economic trauma, which in some cases have led to fatalities. Stories abound of senior citizens who had collapsed and died while on queues while waiting for their pensions. It was in a bid to address this problem that the Pension Reforms Act of 2004 was enacted. The Act covers both public and private sector employees. The Contributory Pension Scheme (CPS) was introduced to replace WKH 'HÀQHG %HQHÀW 6FKHPH '%6 8QGHU WKH QHZ regime, both the government/companies and the workers themselves are to save up a given amount of their earnings towards building up an accumulated funds reserve which the worker could fall back on after retirement. Sadly, 18 years after the CPS was launched, only four states (Lagos, Osun, Kaduna, and Delta) and the Federal Capital Territory (FCT) are paying pensions under the scheme. Meanwhile, only six states (Lagos, Osun, Ondo, Edo, Ekiti and Kaduna) also had valid group life and sinking funds for their workers as of March this year, in clear breach of the Act. Figures from the private sector are even more depressing. In its latest quarterly report on Issuance of Pension &OHDUDQFH &HUWLÀFDWHV 3&&V WKH 1DWLRQDO 3HQVLRQ Commission (PenCom) reported that as at the end RI 0DUFK WKLV \HDU RQO\ ÀUPV FRPSOLHG with the enabling laws and had been cleared to do business with government. Yet, section 4(5) of the Pension Reform Act 2014 provides that, “Every employer must maintain a group life insurance

policy in favour of each employee for a minimum of three times the annual total emolument of the employee and premium must be paid not later than the date of commencement of the cover.” Section 2(2) of the Act provides that in the case of the private sector, the pension scheme applies to organisations in which there are 15 or more HPSOR\HHV 7KDW RQO\ ÀUPV KDG FRPSOLHG with the country’s statutory laws on pension and insurance covers and have been cleared to do business with government speaks volumes. While the 2004 Pension Act and the 2014 Pension Reform Act which heralded the CPS were designed to address the pitfalls of the ROG RUGHU XQGHU 'HÀQHG %HQHÀWV LW LV UHJUHWWDEOH that pensioners are still passing through harrowing times after retirement. As regulator, PenCom appears not to be on top of its game thus leaving retirees at the mercy of employers who fail to adhere to the provisions of the Pension Reform Act 2014. While many obstacles have stood in the way of pensioners to DFFHVV WKHLU UHWLUHPHQW EHQHÀWV WKH 3HQVLRQ )XQG Administrators (PFAs) have been the ultimate EHQHÀFLDULHV RI WKH JURZLQJ SHQVLRQ DVVHWV ZKLFK currently stand at about N13.6 trillion. It is time for PenCom to rise to the occasion to make the pension VFKHPH WUXO\ EHQHÀFLDO WR WKH JUHDWHVW QXPEHU RI pensioners by whipping errant employers into line. We urge the federal and state governments to keep faith with their obligations to pensioners. We also call on PenCom to apply stricter measures in enforcing compliance with the provisions of the Pension Reforms Act by the PFAs. Indeed, we believe and demand that it is only fair and just to allow pension to sooth the nerves of retired persons, especially after the workers have been faithful in making appropriate contributions to the scheme while in active service.

We urge the federal and state governments to keep faith with their obligations to pensioners

T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI THE OMBUDSMAN KAYODE KOMOLAFE

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

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

LETTERS VOTE SELLING: WHY BLAME THE POOR? Vote commercialization is the result of a strategic programme by politicians to inject poverty in the electorate at every point in time leaving them with no other option than to sell their votes to the highest bidder on the day of election. Why do you think that most government programmes don’t always alleviate, but always elevate the problems of the poor? When politicians openly say “Dibo ko sebe”, you should capture the pun in the fun. Don’t let us deceive ourselves by thinking that any censure of the hawkers can achieve any constructive dissuasion-- at least, not for now. Vote buying and vote hawking have formed a synergic partnership in our political culture because the buyers know that there will always be sellers on election day since the sellers are creations of their “penurious programmes”. On the other hand, the sellers know that there will always be buyers on election day because that is the only day and avHQXH WKH\ FDQ SURÀWHHU WKH GHVSHUDWLRQ RI WKH YRWH EX\HUV ,W is good to sermonize to both the buyer and the seller on the destructive tendency of such heinous practice on our political system but will they change? When a voter sells his/her vote

for as low as N3000, does that not show irredeemable poverty? After engaging a vote seller in a two-hour homily on the implication of his action to the future of his children, and, at the end of the preachment, you couldn’t console him with just N2000 for “wasting” his time, when he gets to the polling ERRWK DQG ÀQGV D YRWH EX\HU ZKR LV UHDG\ WR VROYH KLV LPPHdiate need with N3000, he will not only sell the vote, he will even complement the sale with elaborate display of gratitude to the buyer. Let’s be realistic, as much as we desire idealism, it will be elusive for as long as we all indulge in sophism that discountenances realism. As elite, our self-righteousness is responsible for our incesVDQW SRQWLÀFDWLRQV DQG WKH XQMXVWLÀHG FRQWHPSW ZH KDYH IRU the poor. Yes, we can laugh at a man selling his vote. Yes, we can condemn him for even selling it for as low as N3000. We can mock his poverty. We can deride his condition. But who are the people responsible for his sorry state? The rulers. Who are these rulers? The politicians. Who are the politicians? The elite. Who are the elite? You and I. When you mock a man who sells his vote so that he can “sebe”(cook),

you should know that we, the so-called elite, have failed the crowd thronging in the paradise of hell. Why are we lambasting the weak for selling their votes when most of us are friends to those buying the votes? Who should we talk to? Let us even concede without admitting, that we should talk to both. Where should we start from? Is it not pharisaical to start from the poor with intemperate desires and exploitable vulnerability? We meet and see our friends regularly. They are the ones tempting the poor. They are the ones buying the votes. So, why FDQ·W ZH VWDUW IURP WKHUH" 6LPSOH ZH GR QRW ZDQW WR RͿHQG our friends or put our relationship with them in jeopardy beFDXVH WKHUH LV HYHU\ SRVVLELOLW\ WKDW ZH DUH JRLQJ WR EH EHQHÀciaries of the “purchased electoral victory”. We will gallivant the streets as “friends to the governor”. We will submit CVs for political appointments. We will lobby for contracts. This is the truth. But what do we want from the poor? Nothing. The SRRU KDYH QRWKLQJ WR RͿHU XV 7KHUHIRUH ZH FDQ ODPEDVW WKHP We can chastise them. Dapo Thomas, Lagos

TUESDAY, ͺ͹˜ ͺ͸ͺͺ ˾ T H I S D AY

THE ALTERNATIVE

with RenoOmokri

Nigeria Needs Pacesetters, Not Placeholders O n January 10, 2022, the former Governor of Lagos state, and now the Presidential candidate of the All Progressives Congress, Bola Ahmed Tinubu, visited President Muhammadu Buhari at the Aso Rock Presidential Villa. After that meeting, he informed the waiting press that he had intimidated Buhari of his “lifelong ambition” to be President of Nigeria. Bola Tinubu claims to be 70 years old. So, if his statement that he has a ‘lifelong ambition’ to be President is true, then he must have been planning for at least 40 years. Was it not Brian Tracy who said, “Every minute you spend in planning saves 10 minutes in execution; this gives you a 1,000% Return on Energy”? So where is Bola Tinubu’s return on investment on his planning? How can you be planning to be President for years, and when you finally get your party’s ticket, you are not able to choose a deputy? It shows indecision and unpreparedness. Even before you won, you should have known who you wanted to choose. Nigeria needs a leader, not a fiddler! If Tinubu says he has a lifelong ambition to be President, then it says a lot about his ability to plan, and the planning ability of those other Presidential candidates, who are still relying on placeholders to fill their tickets. How can you plan for a lifetime only to go for a placeholder? Having a placeholder shows that you are not ready. Not ready to contest. Not ready to win. And certainly not ready to govern. We have been once bitten by Buhari. Therefore we should be twice shy with Tinubu, and any other Presidential candidate who has problem deciding on a substantive running mate. It is only that we are a very forgetful people. What led to the first recession under Buhari? The fact that 6 months after being sworn in as President, he had not named a cabinet. Indecision in a leader has repercussions. If you can’t pick a deputy on time, you can’t lead Nigeria on track All parties were furnished with the INEC timetable. They knew the deadlines. Any party that could not organise itself in an orderly manner to produce a Presidential candidate and his deputy within the allotted time, has shown its unpreparedness to govern! Nigeria needs a leader who can take decisions. Someone who can work and decide under pressure. If Nigerians are attacked, we need a leader who can respond in a timely manner. People who cannot choose their running mates within the allotted time cannot be decisive leaders. No matter what you think about the PDP, the fact is that as a party, they have demonstrated decisiveness. They picked their candidate within time. And their candidate picked his running mate with dispatch. What this should tell Nigerians is that the PDP is READY to govern!

Tinubu

Kwankwaso

At this time, Nigeria does not need placeholders. We need pacesetters. Bola Tinubu calls himself Asiwaju. The literal meaning of Asiwaju is someone who opens up the front. A leader. A pacesetter. What kind of Asiwaju cannot make up his mind who his running mate should be? We should not tolerate a situation where it is easier for political parties to pick presidential candidates than it is for them to pick vice presidential candidates. That kind of foot-dragging and pussyfooting is a red flag that signals unpreparedness to govern. When you are not organised enough to give the public your genuine vice presidential candidate within the time allotted, you are invariably proving that you are not in fact a political party. You are merely a group of people conspiring to take power for your own interests! And to add salt to injury, the All Progressives Congress officially came out with a position that Nigerians should stop “mounting pressure” on Tinubu over his inability to choose his running mate. They prove my point. If choosing his vice presidential nominee is too much pressure for Tinubu, then he is obviously not up to the higher pressure of being President. If a party is giving you a dummy candidate to be

withdrawn later, what is to stop them from giving you dummy promises to be withdrawn later? Is that not what Buhari did with All Promises Cancelled? This is a warning to Nigerians. Slaveholders use placeholders to pull the wool over our eyes! It is not just Bola Tinubu who would have an issue with the placeholder theory. For months, many people have been arguing against another Fulani President, and I counselled them against such identity politics. Now, Kwankwaso is their new darling. How are they going to explain their new-found love for a Fulani man? How will they eat their words, seeing as Kwankwaso self identifies as a Fulani? What are they going to say? Especially as Kwankwaso, in his June 18, 2022 BBC Hausa interview, clearly stated that the expectation is that the older man (him) should be the presidential candidate, while the younger man should content himself with the vice presidential slot? If they accept Kwankwaso’s suggestion, it means that their problem is not with the Fulani. Their problem is power and they will do what it takes to get it! I am just watching the unfolding drama of this set of people whose main political strategy is to insult and threaten. What have they not called me? Fulani slave. Fulani boy-boy. Reno OmoFulani. These things

they said in writing. Many of such insults even went viral. But today, they now see value in the same Fulani that they dehumanised. I laugh in Fufulde! Why do I laugh? Because I lived with pure Fulani in old Sokoto state. They have one trait, which serves them well. They do not react emotionally, so when you hurt them, you may think that they did not notice, or remember. However, they are uber-observant, and have the memory of an elephant. And this is one reason why I commend Bola Tinubu’s supporters. I don’t like Tinubu. I believe he lacks the qualities needed for a good leader. But he has good followers. They do not insult or threaten. They are very goal oriented. Marketing their candidate with persuasion rather than intimidation. In conclusion, the bottom line is that the All Progressives Congress and the other placeholder parties are ill-equipped and ill-prepared to govern. When we say Atiku is the unifier, some throw tantrums. Look at our ticket. Fully balanced. Northern-Southern, Muslim-Christian, Fulani, Delta Igbo. Can you honestly say that any party has a better combination? Do you want Muslim-Muslim, or Christian-Christian that is even Southern-Southern? The PDP is ready. If the election is tomorrow, they are ready. They are ready to win and to govern. Nigerians just face the facts. Whether you love him or hate him, the fact remains that no other candidate is as prepared for the job of President as Atiku Abubakar. You want Nigerians to vote you in as a party, yet you can’t decide who is your running mate? If you have an inconclusive ticket, how can you have a decisive government? If you can’t meet INEC’s deadline, how can you meet your own promises? Let us face facts! Others say they are working on a merger with Kwankwaso. Kwamkwaso has already said he will NEVER be a VP candidate. So in essence, what are they telling Nigerians? As of today, the only party that is ready for the election is the PDP. You can hate facts, but you can’t dismiss them!

Reno’s Nuggets Coca Cola only sold 25 bottles of Coke in their first year of operation. Today, they sell 1.9 billion every day. So don’t be afraid to take a loss to be the boss. Give yourself time, that business WILL succeed. Progress has a process. It comes over time, not overnight! And persist even if you encounter a rough patch. Put things into perspective. You are having a bad day. You are not having a bad life. You are broke. You are not poor. You are angry with a client. You do not hate them. Someone broke your heart. They did not break your life. Perspective is effective and supportive! #RenosNuggets #FreeLeahSharibu

Fraud: Rivers Govt to Prosecute Amaechi, Cole, Others Rivers State government has filed a legal action against a former governor of the state, Mr. Rotimi Amaechi; governorship candidate of the All Progressives Congress (APC), Tonye Cole, and five other defendants at a High Court in the state for allegedly conspiring to steal the sum of $274, 563, 599.59 accruable from the sale of the state’s assets. Other defendants on Charge No. PHC/1818/CR/2022, included: Chamberlain Peterside, Augustine Wokocha, Sahara Energy Resources Limited, NG Powers-HIPS Limited and Cenpropsaroten Hotel Management Limited. The document made available to journalists in Port Harcourt, stated that the defendants faced nine-count charge bordering on conspiracy, stealing and cheating. Count one bordered on conspiracy and the defendants were accused of, "stealing the sum of $274, 563, 599.59, being proceeds from the sale of 70 per cent equity held by the Rivers State government in the power generation assets at Omoku Gas Turbine, Trans-Amadi Gas Turbine, Eleme Gas Turbine and Afam Gas Turbine Phase I to NG Powers-HPS Limited."

The offence which the state government alleged was committed between 2011-2012 in Port Harcourt, it further stated was contrary to Section 516A (a) of the Criminal Code Law, Cap. 37, Volume 2, Laws of Rivers State of Nigeria, 1999. Also, on count two which was on stealing, the accused persons, “committed the crime

contrary to section 383 and punishable under section 390 (9) of the Criminal Code Law, Cap. 37, Vol. 2 Law of Rivers State of Nigeria, 1999.” Similarly, on count three, the fourth, fifth and seventh defendants, between 2011-2012, within Port Harcourt Judicial Division, were accused of intent to cheat, "agreed to purchase

from Rivers State government 70 percent equity held by the state in the power generation assets at Omoku Gas Turbine, Trans-Amadi Gas Turbine, Eleme Gas Turbine and Afam Gas Turbine Phase I the sum of $302, 960,000.00 USD." On counts four and five, “conspiracy to defraud, the offence allegedly committed

by the defendants, was said to be contrary to section 422 of the Criminal Code Law, Cap. 37, Vol. 2, Laws of Rivers State.” The prosecution (State) on proofs of evidence has a list of five witnesses for the case. The inventory documents to be relied upon by the prosecution include: Shares sale and Purchase Agreement

between the state government and Rivers State Ministry of Finance Incorporated and First Independent Power Limited and NG Power-HPS Limited. Another inventory the prosecution would rely upon would be Access Bank Statement, Bank Road, Port Harcourt, January 1, 2013 - August 22, 2015 and others.

Keyamo: Nigerian Youths Must Be Protected from Despair, Hopelessness Adibe Emenyonu in Benin City The Minister of State for Labour and Employment, Festus Keyamo has stated that Nigerian youths must be protected from despair, disillusionment and hopelessness, saying they represent the most active and valuable sector of the nation's demography, economically and socially. He also noted that Nigerian youths were energetic, innovative and desire so much for legitimate and decent job opportunities or conducive environment to operate productive ventures. Keyamo stated this yesterday in Benin City, Edo State, in his keynote address at the inaugural retreat and meeting of members

of the newly-inaugurated board of the National Directorate of Employment (NDE). The senior lawyer, who is the chairman of the board of NDE and the supervising minister of the agency, also declared that the right of Nigerian youths, women and other vulnerable groups to decent job opportunities, selfreliance and self actualisation was non-negotiable in the administration of President Muhammadu Buhari. According to him, "The current population of Nigeria is about 215,325,205, based on projection of the United Nations data. By the projection of the National Bureau of Statistics (NBS), 60 per cent of the total population

are estimated between 15 and 35 years. "Without decent job opportunities or conducive clime by the youths to operate productive ventures, frustration, disillusionment, hate, anger and even vengeance set in. "More worst, some unpatriotic persons cash on the predicament and frustration among the youths and recruit them as ready tools for kidnapping, terrorism, political thuggery and other unwholesome activities that are inimical to our thriving democracy and development as a nation. We have a task to strengthen the directorate as an agency that will tackle the menace head on."

The minister also reiterated that President Buhari and the All Progressives Congress (APC) government were desirous of lifting 100 million Nigerians out of poverty, with NDE to be made impactful on delivering the laudable national quest. Keyamo described himself as an advocate for good governance, right attitude to public funds, efficient and effective service delivery to Nigerians, especially the teeming unemployed youths, women and other vulnerable groups. The Director-General of NDE, Mallam Abubakar Fikpo, earlier in his welcome address, urged members of the agency's board to explore possible means of

attracting external funding for the directorate. He said attracting external funding for NDE was very critical, considering the fact that the agency had been receiving almost the same budgetary allocations and battling with insufficient release of funds since 2004, in spite of the geometric increase in the rate of unemployed persons, with its attendant socio-economic implications. Fikpo further revealed that the management of NDE had made efforts for collaboration with government, non-governmental agencies and other relevant stakeholders, as a way of attracting support for employment-creation initiatives.

TUESDAY, JUNE 21, 2022 • 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 17June-2022, 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 194.79 195.94 16.68% Afrinvest Plutus Fund 100.00 100.00 6.18% Nigeria International Debt Fund 319.38 319.38 4.67% Afrinvest Dollar Fund 105.86 107.01 7.29% 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 8.10% AIICO Balanced Fund 3.68 3.74 3.76% 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 3.73% Anchoria Equity Fund 147.52 149.18 5.94% Anchoria Fixed Income Fund 1.20 1.20 4.86% info@anchoriaam.com 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 21.94 22.60 8.16% ARM Discovery Balanced Fund 510.83 526.24 13.23% ARM Ethical Fund 43.43 44.74 11.49% ARM Eurobond Fund ($) 1.06 1.07 -1.64% ARM Fixed Income Fund 1.04 1.05 2.88% ARM Money Market Fund 1.00 1.00 6.37% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 105.78 105.78 8.64% AVA GAM Fixed Income Dollar Naira 1,116.20 1,116.20 11.62% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.12 2.12 7.56% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.38 2.44 20.69% CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalﬁf@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund Name Bid Price Offer Price Yield / T-Rtn Capitaltrust Halal Fixed Income Fund N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.05 1.05 4.03% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 7.11% Paramount Equity Fund 19.87 20.22 13.89% Women's Investment Fund 150.28 152.16 5.84% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 6.96% Cordros Milestone Fund 133.91 134.77 7.47% Cordros Dollar Fund ($) 109.86 109.86 5.04% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 4.56% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 5.74% EDC Nigeria Fixed Income Fund 1,161.37 1,174.70 -0.27% EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 8.19% Emerging Africa Bond Fund 1.05 1.05 8.40% Emerging Africa Balanced Diversity Fund 1.06 1.06 16.20% Emerging Africa Eurobond Fund 101.51 101.51 3.45% FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund 1465.31 1465.31 10.54% FBN Balanced Fund 194.54 195.91 11.00% FBN Halal Fund 120.55 120.55 10.11% FBN Money Market Fund 100.00 100.00 6.31% FBN Dollar Fund (Retail) 124.22 124.22 5.68% FBN Nigeria Smart Beta Equity Fund 165.55 167.69 9.00% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 4.74% Legacy Debt Fund 3.96 3.96 -1.11% Legacy Equity Fund 1.95 1.99 12.11% Legacy USD Bond Fund 1.23 1.23 1.85% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn

Coral Balanced Fund Coral Income Fund Coral Money Market Fund

4,212.33 3,568.39 100.00

4,274.04 3,568.39 100.00

17.86% 6.27% 6.25%

FSDH Dollar Fund 1.10 1.10 3.87% 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 N/A N/A N/A Vantage Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Kedari Investment Fund (KIF) N/A N/A N/A Vantage Equity Income Fund (VEIF) - June Year End N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A LOTUS CAPITAL LTD ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.58 1.60 11.08% Lotus Halal Fixed Income Fund 1,171.93 1,171.93 4.53% 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 12.29 12.35 12.57% Meristem Money Market Fund 10.00 10.00 8.12% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 102.36 102.36 7.78% Norrenberger Money Market Fund (NMMF) 100.00 100.00 8.05% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund N/A N/A N/A PACAM Fixed Income Fund N/A N/A N/A PACAM Money Market Fund N/A N/A N/A PACAM Equity Fund N/A N/A N/A PACAM EuroBond Fund N/A N/A N/A SCM CAPITAL 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 128.59 131.45 8.68% 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 1.04 1.04 8.53% 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 3,670.75 3,712.31 -2.71% Stanbic IBTC Bond Fund 239.27 239.27 0.17% Stanbic IBTC Ethical Fund 1.46 1.49 -2.32% Stanbic IBTC Guaranteed Investment Fund 321.18 321.18 0.27% Stanbic IBTC Iman Fund 272.99 276.61 -1.31% Stanbic IBTC Money Market Fund 1.00 1.00 3.67% Stanbic IBTC Nigerian Equity Fund 12,429.11 12,599.98 -1.77% Stanbic IBTC Dollar Fund (USD) 1.32 1.32 0.28% Stanbic IBTC Shariah Fixed Income Fund 118.66 118.66 0.15% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 109.89 109.89 0.38% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 1.01 1.04 14.15% United Capital Balanced Fund 1.44 1.46 9.71% United Capital Wealth for Women Fund 1.15 1.17 11.66% United Capital Sukuk Fund 1.06 1.06 3.36% United Capital Fixed Income Fund 1.89 1.89 3.03% United Capital Eurobond Fund 121.45 121.45 2.55% United Capital Money Market Fund 1.00 1.00 6.63% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.91 14.04 5.47% Zenith ESG Impact Fund 16.22 16.40 11.03% Zenith Income Fund 22.71 22.71 3.43% Zenith Money Market Fund 1.00 1.00 5.54% VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 3.89 3.99 -3.04% Vetiva Consumer Goods Exchange Traded Fund 6.34 6.44 8.50% Vetiva Grifﬁn 30 Exchange Traded Fund 19.04 19.24 7.65% Vetiva Money Market Fund 1.00 1.00 4.26% Vetiva Industrial Goods Exchange Traded Fund 21.87 22.07 9.41% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 153.08 155.08 -2.95%

REITS NAV Per Share

Yield / T-Rtn

117.02 51.68

3.38% 1.63%

Bid Price

Offer Price

Yield / T-Rtn

15.04 144.55 114.09 17.10 16.40

15.14 148.05 116.53 17.20 16.50

7.52% -4.30% -4.04% 21.26% 6.40%

NAV Per Share

Yield / T-Rtn

107.55

12.10%

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 MERGROWTH ETF MERVALUE ETF

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

LAWYER TUESDAY, JUNE 21, 2022

UT H

& RE A S O

WEEKLY PULLOUT

UT H

& RE A S O

AYODELE AKINTUNDE, SAN

‘ECNBA Will Deliver a Credible Election for Nigerian Lawyers’

TUESDAY, JUNE 21, 2022 ˾ T H I S D AY

IN THIS EDITION

Deﬁnition of Parties Under the Doctrine of Estoppel Per Rem Judicatam Page IV

"Close Shop and Go Home, if You Can't Protect Us", Akeredolu tells Police

QUOTABLE

Page V

‘…. I’m aware that many of our members did not lose their primaries, because they were rejected by their constituents. No, far from it…..They lost because of the process; the process which we foresaw in the House of Representatives - the Delegate system, which is unfortunately not what a delegate system should be.’ - Rt. Honourable Olufemi Gbajabiamila, Lawyer, Speaker of the House of Representatives, 9th National Assembly, Federal Republic of Nigeria

Why Victory High School has Produced Many Lawyers, Says Former Teacher Page V

LAWYER

ONIKEPO BRAITHWAITE: EDITOR, JUDE IGBANOI: DEPUTY EDITOR, PETER TAIWO, STEVE AYA: REPORTERS

III THE ADVOCATE

T H I S D AY ˾ TUESDAY, JUNE 21, 2022

Running Mate, Dummy Mate Heartfelt Condolences to my Chairman I express my heartfelt condolences to my Chairman, ‘Duke’, Prince Nduka Obaigbena, (Publisher), whose beloved mother, Princess Margaret Obaigbena joined the saints triumphant last Friday, June 17, 2022 at the age of 87. Eternal rest grant unto her, o Lord, and let your light perpetual shine upon her. Amen. Take heart Publisher, Mama has gone to be with the Lord. May God comfort the Obaigbena and Usifoh families. Amen. Nomination of Vice Presidential Candidates Finally, the two major political parties, APC and PDP (and indeed, the others too), have revealed their Vice Presidential candidates (albeit that some may be ‘dummy candidates’), and we see that making the choices of the Vice Presidential Candidates for either party has been unnecessarily dramatic. Section 142(1) of the 1999 Constitution of the Federal Republic of Nigeria (as amended)(the Constitution) clearly provides that the Presidential candidate nominates his running mate from the same political party. Chapter VIII of the PDP Constitution provides for the nomination of candidates for election into public office; Article 20 of the APC Constitution provides for elections into elective positions and appointments. In a Channels TV interview last Friday, a PDP member, Mr Kassim Afegbua, stated that when the issue of the Vice Presidential candidate was put to a vote in their party, the nominee who scored the highest number of votes was Governor Nyesom Wike - he allegedly scored 13 votes; Governor Ifeanyi Okowa allegedly scored 3 votes, and was still selected as the Vice Presidential candidate. In short, that in this our own home grown democracy, ‘majority no dey carry vote!’. Though Section 50(10)(b) of the PDP Constitution makes the National Executive Committee through the National Working Committee, the deciding authority for most elective offices, including that of the Vice President, this provision in the PDP Constitution is obviously subject to the Constitution which is supreme, and in this case of the nomination of a Vice Presidential candidate, subject to Section 142(1) of the Constitution. Of course, there are arguments for both sides - on one side, that the Presidential candidate should be the one to choose the person he feels is best suited to him; on the other side, that it is the political party sponsoring the candidates, and therefore, the popular decision of the party should stand, as this is the essence of democracy. Then we have APC, which seems to be having a huge problem in nominating a Vice Presidential candidate, possibly because of religion. In the case of APC, the public has been hearing that a "dummy" running mate candidate/place holder was put forward, in order to meet the INEC deadline of June 16, 2022 to present the Party candidates for the various elective

Dr Ifeanyi Okowa

ONIKEPO BRAITHWAITE onikepo.braithwaite@thisdaylive. com onikepob@yahoo.com

The

Advocate “To be clear, the Constitution and Electoral Act, do not provide for a dummy candidate or place holder. It is unknown to law” positions. Ditto for Peter Obi’s Labour Party. “Dummy” Candidate/Place Holder To be clear, the Constitution and Electoral Act, do not provide for a dummy candidate or place holder. It is unknown to law. However, as we are all aware, most Nigerian politicians are more adept and astute at sharp practices than good governance, and have found a way to be able to have their way by manipulating the law. Section 31 of the Electoral Act 2022 (EA) allows a candidate to withdraw his/her nomination in writing, and such withdrawal must be communicated to INEC by the political party not later than 90 days to the election. Section 33 of the EA then allows the political party to submit the name of a fresh substitute candidate within 14 days of the withdrawal of the former candidate by conducting fresh primaries, or in the case of a Vice Presidential candidate or Deputy Governor, by selection. By ensuring that the so-called dummy candidate signs an undated letter of withdrawal in advance, when APC and Labour Party then finally decide on their ‘actual’ Vice Presidential candidates, the provisions of Sections 31 & 33 of the EA can be set in motion as late as about November 25, 2022, 90 days to the Presidential election on February 25, 2023. Were Sections 31 & 33 included in the EA for genuine reasons, or was this indecisiveness/ internal party wrangling which may occur in the choice of candidates, also envisaged? APC Yobe North

Ibrahim Kabir Masari

But, in the case of the Senatorial seat of Yobe North, it hasn’t quite worked out as smoothly. Was the Senate President so confident that he would be successfully foisted on APC as the party's flag-bearer, that he just failed or neglected to tie up all loose ends properly? Because had he obtained an advance letter of withdrawal from Mr Machina, the APC sole Senatorial candidate from Yobe North (the seat which the Senate President presently occupies) from the beginning of the process, Senator Lawan would not be in the quandary that he now finds himself in. Having lost out on the Presidential ticket, Mr Machina has refused to relinquish the APC Yobe North Senatorial ticket to Senator Lawan! And, it seems that the powers that be in the APC, are trying to wrestle the ticket forcibly from Mr Machina, so much so that a copy of a Senate Primary Election Report, which listed Senator Ahmad Lawan as the APC Yobe North Senatorial Candidate, has been circulating. This is yet another example of majority not carrying the vote, as Mr Machina claimed to have been the sole candidate and scored 289 votes in the primaries, while Senator Lawan did not participate therein. Surely, these facts should be easily verifiable by INEC, since it monitored the primaries. If not, Senator Lawan and Mr Machina’s matter may be a prime case for preelection litigation, by virtue of Section 285(14)(a) of the Constitution. See A.P.C. v LERE 2020 1 N.W.L.R. Part 1705 Page 254 at 279 per Rhodes-Vivour J.S.C. But, Mr Machina must file his matter within 14 days of the purported substitution of the Senate President’s

Dr Doyin Okupe

name to INEC. See also Section 285(9) of the Constitution and GARBA v APC 2020 2 N.W.L.R. Part 1708 Page 345 at 360. If truly, APC has sought to replace Mr Machina’s name with that of Senator Lawan, the substitution has been done crudely and clumsily, not even in accordance to Sections 31 & 33 of the EA. Like I mentioned before, the law requires Mr Machina to withdraw his candidature in writing, his withdrawal must then be communicated by APC to INEC, and a new primary election conducted within 14 days of his withdrawal. Senator Lawan’s name cannot simply be written, to replace that of Mr Machina. Secondly, the question then arises, if Senator Lawan’s name is inserted onto the list of APC Candidates without due process - how did he emerge as APC Senatorial candidate from the Senatorial primaries held before that of the Presidential Primaries of June 8, win the ticket, hold on to the ticket, and subsequently, being the APC Senatorial candidate for Yobe North, then also run as a Party aspirant for the office of the President as well? To the best of my knowledge, the EA does not permit candidates to run for more than one elective position at a time. Section 30 of the EA provides inter alia that a ‘candidate for an election’ shall be nominated in writing by registered voters in the constituency, the operating word here being “election”, not elections. How can someone have been a nominee simultaneously for two different elective positions, that is Senatorial and Presidential? Can the Senate President eat his cake and have it? I think not. This seems like an unlawful attempt by APC to further perpetuate the Senate President as a Senator, by rubbishing and making a complete mockery of our already heavily tainted democratic process. It is even more disheartening and distasteful when the Chief Law Maker of the country, may be turning out to be the chief law breaker! Conclusion As the race for 2023 continues, Nigerians watch the unfolding dramas and displays of desperate politicians trying to perpetuate themselves in office by hook or by crook. Meanwhile, governance seems to have ground to a complete halt, while the lot of Nigerians is not improving. No one seems to be concerned about the ASUU Strike which has entered its fourth month, with no end in sight, and the fact that thousands of our children are being denied their constitutionally guaranteed right to education (see Section 18 of the Constitution); or how, on June 5, about 32 villagers (and counting) were allegedly killed in what some call a mysterious land and aerial attack in Kaduna State, yet another scary example of the insecurity Nigeria is facing (see Sections 14(2)(b) of the Constitution). Does governance have to wait until the new administration resumes on May 29, 2023?

Bashir Machina

IV LAW REPORT

TUESDAY, JUNE 21, 2022 ˾ T H I S D AY

Definition of Parties Under the Doctrine of Estoppel Per Rem Judicatam Facts The 1st Appellant obtained a loan from the 2nd Respondent, for the purchase of a ship named M.V. Adalma. They entered into a loan agreement, and pursuant to this, the 2nd Respondent in its capacity as a banker, opened a loan account no. 1671 in favour of the 1st Appellant. The 2nd Respondent solely funded the account. Additionally, the 1st Appellant and the 2nd Respondent executed Deed of Mortgage and Deed of Conveyance. The Appellants defaulted on all of their obligations under the Deeds. In exercise of its power of seizure under the Deeds, the 2nd Respondent seized the ship, and advertised it for sale. Following the seizure of the ship, the 1st Appellant sued the 2nd Respondent together with its staff, at the Federal High Court in Suit No. FHC/CA/3/85. The 2nd Respondent counter-claimed for an order of foreclosure of the ship, or in the alternative, an order for payment of the sum of the loan and the interest that had accrued on it. The trial court delivered judgement in favour of the 1st Appellant, and non-suited the 2nd Respondent’s Counter-claim. Dissatisfied, the 2nd Respondent appealed to the Court of Appeal in Appeal No. CA/E/80/88. The Court of Appeal allowed the appeal, and granted the 2nd Respondent’s Counter-claim for an order of foreclosure. Aggrieved, the 1st Appellant filed an appeal before the Supreme Court in Appeal No. SC/46/1993. The Appeal was abandoned by the 1st Appellant, thereby leading to its dismissal by the Apex Court on 22nd February, 1995. However, prior to this and immediately after the 1st Appellant obtained judgement in Suit No. FHC/CA/3/85, the Appellants filed another action in Suit No. FHC/CA/4/87 against the 2nd Respondent and others at the Federal High Court. They sought inter alia, a declaration that the 2nd Respondent wrongly took over and operated the 1st Appellant’s loan account No. 1671 with the 2nd Respondent without the Appellants’ consent, and without allowing the Appellants to operate the account. They sought orders directing the 2nd Respondent to refund several sums transferred from the account. In the course of proceedings, the Appellants applied to join the 1st and 3rd Respondent as parties to the suit. They sought an order of substituted service of the originating processes on them, through delivery at their respective head offices by DHL Courier Service. The trial court granted the application for substituted service through DHL Courier Service. The Appellants however, purported to serve the 1st Respondent through another company called Crown Courier Service. Suit No. FHC/CA/4/87 eventually proceeded to trial in 1996, in the absence of any representation for the 1st Respondent. The trial court delivered judgement in favour of the Appellant. Thereafter, the Appellants took steps to enforce the judgement. It was at this stage that the 1st Respondent became aware of the suit, and the Respondents filed applications to set aside the judgement based on the judgement of the Court of Appeal in Appeal No. CA/E/80/88, which they pleaded as res judicata. The trial court dismissed the Respondents’ applications. Aggrieved, the 1st to 3rd Respondent appealed to the Court of Appeal which allowed their appeal and held that the proceedings in the suit ought to have abated immediately judgement in Appeal No. CA/E/80/88 was delivered on 4th May, 1990, and especially when the appeal against it to the Supreme Court in Appeal No. SC/46/1993 had been abandoned and dismissed. The Court of Appeal also held that the trial court denied the 1st Respondent the right to fair hearing, when it conducted the trial in its absence. Consequently, the Court of Appeal set aside the proceedings and judgement in the suit for being incompetent, on the ground of res judicata. Dissatisfied, the Appellants lodged an appeal before the Supreme Court. Issues for Determination The Supreme Court determined the appeal on the following issues: 1. Whether the Court of Appeal was right in holding that the failure of the Appellants to comply

Honourable Mary Ukaego Peter-Odili, JSC

In the Supreme Court of Nigeria Holden at Abuja On Friday, the 18th day of February, 2022 Before Their Lordships Mary Ukaego Peter-Odili Ejembi Eko Mohammed Lawal Garba Ibrahim Mohammed Musa Saulawa Tijjani Abubakar Justices, Supreme Court SC.205/2010 Between 1. 2.

ADALMA TANKERS & BUNKERING SERVICES LTD MIKE SAMBO ESSIEN

APPELLANTS

And 1. 2. 3. 4.

CENTRAL BANK OF NIGERIA MERCANTILE BANK OF NIGERIA PLC (IN LIQUIDATION) NIGERIA DEPOSIT INSURANCE CORPORATION CHIEF J. L. E. DUKE

RESPONDENTS

(Lead Judgement delivered by Honourable Mary Ukaego Peter-Odili, JSC)

with the court-ordered mode of service of the originating processes on the 1st Respondent culminated in lack of service or due service on the 1st Respondent, and thus, robbed the trial court of the jurisdiction to entertain their claim against the 1st Respondent. 2. Whether the Court of Appeal was right in holding that the case of the Appellants, was caught up by res judicata. Arguments On the first issue, counsel for the Appellants contended that it was evidently clear from the court’s records that every legal method permissible was employed, to ensure the appearance of the Respondents. He submitted that the Court of Appeal erred when it interfered with the findings of the trial court, by holding that the trial court conducted its trial in secrecy. Counsel for the Respondents, on the other hand, argued that the failure by the Appellants to comply with the mode specified by the court in its order of substituted service, was fatal to the proceedings and the Appellants’ case against the 1st Respondent. They argued further

“…..parties are deﬁned not only in terms of those on record, but also as including privies to the parties on record, those who may be interested in the outcome of the case, and those who ought to have been made parties to an action, but were not joined”

that the entire trial was conducted in breach of the 1st Respondent’s right to fair hearing, as the 1st Respondent had been consistently absent and had never been served with the Amended or Further Amended Statement of Claim or Hearing Notice. On the 2nd issue, Counsel for the Appellants argued that the Appellants’ claim at the trial court in Suit No. FHC/CA/4/87 that emanated into the instant appeal, is totally different from that in Appeal No. CA/E/80/88. He submitted that the lower court held erroneously that the Appellants’ case was caught by estoppel per rem judicata, especially when the Respondents at the trial and lower courts neither pleaded res judicata nor proffered evidence in support. Conversely, counsel for the Respondents argued that the Appellants’ case is caught by res judicata, in light of the subsisting judgement of the Court of Appeal in Appeal No. CA/E/80/88 in respect of the operation of the Appellants’ Account No. 1671. They argued further that the trial court was wrong to have failed to consider the defence of res judicata, which was in fact specifically pleaded by the 1st Respondent. Court’s Judgement and Rationale Deciding the first issue, the court relied on its decision in DR HARRY v O.C. MENAKAYA (2017) LPELR – 42363 (SC) that once an order for substituted service is sought and obtained, in the absence of a subsequent

order varying the earlier one, neither the Applicant nor the Bailiff of the court has the discretion to effect service in any other manner or on any other person, than as stated in the order. Service of any process subsequent to the grant of an order of substituted service, must be effected in strict compliance with the order. Guided by the decision above, the court held that the Appellants’ purported service of the originating processes on the 1st Respondent through Crown Courier Services rather than DHL as specifically ordered by the court, apart from being a disobedience to the orders of court, amounted to no service at all. The Court of Appeal was thus right, to hold that the 1st Respondent was not served with the originating processes, so as to confer jurisdiction on the trial court to entertain any claim against it. On the second issue, the court relied on its decision in ODUTOLA v ODERINDE & ORS (2004) 12 NWLR (Pt. 888) 574, (2004) LPELR – 2258 (SC) at 10, to hold that to sustain a plea of res judicata, the party pleading it must satisfy the following conditionalities, to wit – (1) The parties (or their privies as the case may be) are the same in the present case as in the previous case; (2) That the issue and subject-matter are the same in the previous suit, as in the present suit; (3) That the adjudication in the previous case, must have been given by a court of competent jurisdiction; and (4) That the previous decision must have finally decided the issues between the parties. The court held further that for the purpose of the application of the doctrine of estoppel per rem judicatam, this court consistently held that parties are defined not only in terms of those on record, but also as including privies to the parties on record, those who may be interested in the outcome of the case, and those who ought to have been made parties to an action, but were not joined. The court referred to its earlier decisions in AYENI v ELEPO (2007) All FWLR (Pt. 383) 71 and MUSA IYAJI v SULE EYI GEBE (1987) LPELR -1577 SC 1 at 22-23 G-A. In demonstrating the applicability of the constitutive ingredients to the instant appeal, the Supreme Court held that the parties in Appeal No. CA/E/80/88 are the same as those in Suit No. FHC/CA/4/87. Both the Appellant and the Respondent in the said appeal were parties in the suit, and are still parties in the instant appeal as 1st Appellant and 2nd Respondent. The community interest between the 1st Respondent which bought over the 2nd Respondent for the purpose of restructuring, and thus. became its successor-in- title, the 3rd Respondent which is 2nd Respondent’s official liquidator, and 4th Respondent who was the Managing Director of the 2nd Respondent when it was still a going concern, clearly made them privies of the 2nd Respondent. The court held further that Suit No. FHC/ CA /3/85 which was set aside in Appeal No. CA/E/80/88 and Suit No. FHC/CA/4/87 resolved both the broad subject-matter of alleged seizure of the M.V. Adalma, and the narrow issue of the alleged wrongful takeover and operation of the 1st Appellant’s account No. 1671 with the 2nd Respondent. The subject-matter are thus the same. Furthermore, the subsisting judgement in Appeal No. CA/E/80/88 was given by a court of competent jurisdiction, and the Court of Appeal in its decision finally decided the issue in controversy between the parties regarding the maintenance and operation of the 1st Appellant’s account with the 2nd Respondent. All the constitutive ingredients for the applicability of the doctrine of res judicata which had been specifically pleaded in the 2nd Respondent’s Amended Statement of Defence were thus satisfied, and the Court of Appeal rightly applied same. Appeal Dismissed. Representation Ademola Abimbola with others for the Appellants. Okogbuje Odion for the 1st Respondent. Edidiong Usungurua with others for the 2nd and 3rd Respondents. 4th Respondent absent and unrepresented though served. Reported by Optimum Publishers Limited, Publishers of the Nigerian Monthly Law Reports (NMLR)(An afﬁliate of Babalakin & Co.)

TUESDAY, JUNE 21, 2022 ˾ T H I S D AY

NEWS

L-R: Richard Oma Ahonaruogho, SAN; Lagos State Commissioner for Education, Hon. Folashade Adeﬁsayo; Engineer Olatunji Oluseyi Olorunyomi and Alhaji Ariyo Olushekun at a Seminar in honour of the Founder of Victory High School, late Chief Christian Francis Ipoola Olaniyan JP

Governor of Ondo State, Rotimi Akeredolu, SAN

"Close Shop and Go Home, if You Can't Protect Us", Akeredolu tells Police Stories by Steve Aya Governor Rotimi Akeredolu of Ondo State, has asked the Nigeria Police to "close shop", if the Federal Government cannot meet its equipment needs. Arakunrin Akeredolu, SAN who is also the Chairman of Southern Governor's Forum, further noted that the central Police command was ineffective to keep Nigerians safe. He said this while delivering the Keynote Address at the meeting of Attorney-Generals of the 36 States in Lagos. He said State policing and restructuring of the country, were imperative. “The current spate of insecurity in the country, leaves us with no room for equivocation on the right of the States to maintain law and order through the establishment of State Police”, he said. The Governor said: "We will

carry arms very soon. Oga Malami. There is no other way". The Governor further challenged States to restructure the country by, among others, setting up their Anti-Graft Agencies or Anti-Corruption Commission. He argued that the Economic and Financial Crimes Commission, EFCC, was a creation of and for the Federal Government of Nigeria only, and not for the Federation of 36 States. “If you have not done it (set up State Anti-Graft Agencies) in your State, go and do it. Let the EFCC run after those who have infractions with the Federal Government, not States. We now use the EFCC to start pursuing even Governors, and you want to stay as if you are holier than everyone. You now use Federal Government agencies, to oppress people in the States. “So, go and promulgate your laws, establish your anti-graft

Lagos State High Court to go on Vacation on July 25 Lagos State High Court will be commencing this year’s vacation from July 25 to September 16, 2022. This was contained in a Notice of vacation made available to Judiciary Correspondents by the Assistant Director, Public Affairs, Lagos State Judiciary, Mrs Ololade Ige. According to the Notice signed by acting Chief Registrar, Tajudeen Elias, the State Chief Judge, Justice Kazeem Alogba, approved the annual vacation pursuant to Order 49 Rule 4(D) of the High Court of Lagos Civil Procedure Rules 2019. The Chief Judge noted that arrangements have been made, to entertain matters of urgency during the long vacation period. Four Judges have each been assigned to adjudicate on proceedings at the Ikeja Division and the Lagos Division, while two Judges have each been assigned at Badagry, Epe and Ikorodu Divisions of the High Courts during the duration of the vacation. At the Ikeja Division, Justice O. A. Taiwo will be sitting from July 25 to August 5; Justice O. A. Okunuga, from August 8 to

August 19; Justice A.O Adeyemi, from August 22 to September 2 and Justice Y. R. Pinheiro from September 5 to September 16. At the Lagos Division, Justice O. F. Aigbokhaevbo will sit from July 25 to August 5; Justice O. O. Martins, from August 8 to August 19; Justice O. O. Oshin, from August 22 to September 2 and Justice A. M. IpayeNwachukwu from September 5 to September 16. The Badagry Division will have Justice M.O. Dawodu sit from August 8 to August 19 and Justice B.O. Kalaro from August 22 to September 2. The Epe Division will have Justice A.O. Idowu sit from August 8 to August 19 and Justice I.O. Ojelu from August 22 and September 2. While at the Ikorodu Division, Justice O.A. Odusanya from August 8 to August 19 and Justice M.I. Oshodi from August 22 to September 2. According to the Notice, the 2022/2023 session commences on September 19, and the new legal year services will hold on September 26, 2022.

agencies. We have done ours in Ondo State. Or else EFCC will continue to pursue you. Is it only in States that they steal? I'm not saying you should be stealing”, Akeredolu said. Responding, Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN accused Governors of greed by coveting local government revenue. He questioned the Governors'

moral ground for their agitation for restructuring and State Police, in the face of this “compromise". The AGF wondered whether “a State Governor that colonised the resources of a local government, that renders a local government inefficient and ineffective in the performance of its duties, security and otherwise, have a moral standing to now clamour and crave for restructuring against the backdrop of

the inherent abuse associated with this conduct, with particular regard to the corporate existence of a State? “A further question is whether a State Governor that undermines the democratic process, that refuses to inaugurate members of the State House of Assembly that were elected, equally stands a moral ground to clamour for restructuring against the backdrop of the fact that he does not believe in allowing the

system to effectively and efficiently operate?” He also advised the AGs of respective States, to perish the idea of establishing a body known as the ‘Body of Attorneys-General of the Federation’. Malami said the name runs contrary to Section 150(1) of the 1999 Constitution (as amended), which established his office as the only AGF.

Olanipekun Calls for Review of NJC and FJSC Membership Chief Wole Olanipekun, SAN, has called for a review of the composition of the National Judicial Council (NJC) and the Federal Judicial Service Commission (FJSC). Olanipekun who is also the Chairman of the Body of Benchers, stated this in a paper titled, "The Allegation of Corruption in the Legal Profession: Who is to Blame" delivered at the 2022 Annual Alao Aka-Bashorun Memorial Lecture organised by the Nigerian Bar Association (NBA), Ikeja Branch held at Marriot Hotel, GRA, Ikeja. Speaking further the respected Silk said: "My sincere position is that with what we have been experiencing in recent years, their compositions should be completely rejigged, readjusted, retooled, recast and overhauled, to bring in independent people to perform the functions now vested in the two bodies, regarding recruitment,

appointment, discipline and welfare of Judges and judicial officers. This is what operates, in other climes". Chief Olanipekun spoke against the background of the May 3 valedictory speech of a recently retired Justice of the Supreme Court, Justice Ejembi Eko, who suggested that budgetary allocation of the Judiciary be subjected to investigation by the anti-graft agencies. The Learned Silk made further reference to Justice Eko who also quoted the Director of Budget, Federal Ministry of Finance, to have stated recently at the memorial lecture in honour of the late Abdullahi Ibrahim, SAN, at the Shehu Yar'Adua Centre, Abuja that: "it is baffling that the welfare of Judges remains in an abject state, in spite of the increase of the budgetary allocation to the Judiciary under this regime.

Why? The said Director of Budget suggested that the panacea to the often touted underfunding of the Judiciary would be for "the Judiciary to allow its books to be opened" by the relevant authorities. "This clearly is an allusion, albeit an indictment, pointing to the internal fraud attending to the management of the budgetary resources of the Judiciary. Nothing stops the office of the AuditorGeneral of the Federation, the Independent Corrupt Practices Commission (ICPC), and other investigatory agencies from "opening the books of the Judiciary", to expose the corruption in the management of their budgetary resources. "That does not compromise the Independence of the Judiciary. Rather, it promotes accountability." One of the discussants, Yemi Candide-Johnson, SAN, said the function of the legal system

cannot be achieved, if practitioners continue to destroy it with lies. He remarked that if the system is corrupted with money, it would be difficult to get justice. He regretted that some Justices of the Apex Court have failed in the description of the character of an upright Judge. "When you take oath as a Judge, it is not a game. If you can't do it, leave it." A Life Bencher, Dele Adesina, SAN, said Lawyers should be courageous enough to reject forum shopping from clients. He stressed the need for the Disciplinary Committee of the NBA, to be able to sanction members as appropriate. Dr Muiz Banire, SAN, remarked that Lawyers themselves are the cause of the problems in the Judiciary, saying, "If we don't regulate ourselves now, it will give room for an external body to regulate us".

Why Victory High School has Produced Many Lawyers, Says Former Teacher A former Teacher at Victory High School has disclosed that the reason why the school produced lots of Lawyers in its early days, was that the school had a student court that sat every Saturday to handle cases of indiscipline amongst its students, adding that the court operated just like a normal or regular court in session. The Teacher, Rev. Dr Titus Aderemi disclosed that setting up the court became important because both the Founder of the School Chief Christian Francis Ipoola Olaniyan, and the founding teachers believed that discipline

must be maintained in the school. "We believe in discipline and law, and the result is the large number of Lawyers and Judges that we have produced". He also discussed that the School also produced a former President of Nigeria, in the person of the late President Umaru Musa Yar'adua, who according to him came to the school to retake his final secondary school examination between 1974-76. Dr Aderemi was speaking during a seminar titled, “The Private Sector Contribution to Educational Development in Nigeria”, put together by Vic-

tory High School and Victory College Old Students Association in celebration of the life and times of the Founder of the School, Chief Christian Francis Ipoola Olaniyan. In his Keynote Address, the Guest Speaker, Dr Kunle Leo Labinjo, traced the coming of private schools in Nigeria to the activities of religious organisations, and concluded that the private sector's contribution to education is huge, and it will continue to be so until the Government improves on its contribution. Also speaking at the event, the Special Guest of Honour and

the Lagos State Commissioner of Education, Hon. Mrs Folashade Adefisayo spoke glowingly about the late Founder of the School. She also stated that the Lagos State Government has improved its education budget, and it is investing heavily in the construction of new schools, particularly with the second legacy school located in Agege which will soon be commissioned by the State Governor. Victory High School/ College Ikeja was founded in 1968 by the late Chief Christian Francis Ipoola Olaniyan who died recently, at the age of 92.

#upjudicialsalaries “I have practised in all the levels of courts, in Nigeria. I know that poor pay for judicial officers, is seriously affecting the quality of judgements and rulings those officers are delivering, and the discharge of other functions associated with their offices.” - Sebastine Hon, SAN

VI “Terrorism works better as a tactic for dictatorships, or for would-be dictators, than for revolutionaries.” – Christopher Hitchens “The hallmark of an authoritarian idiot, is yelling Terrorist-Lover! at anyone questioning the definition of Terrorist.” – Glenn Greenwald The complaint over the emergence of terrorists flying in military helicopters to rain down bullets on poor and undefended local villagers in Nigeria, didn't start today. These helicopter terrorists have been seen somewhere in the deep forests of Delta State, by some natives. The helicopter flying terrorists appeared somewhere not far away from the restive but rustic town of Kafanchan, the heart of the Christian dominated Southern Kaduna State in the North West of Nigeria. By the way, in Zamfara State just approximately some few metres to Katsina State, armed bandits as they were then known, but since declared terrorists by the Federal High Court, Abuja division, shot down a military jet leading to the emergency ejection of the fighter Pilot who could have been killed, but for the swift intervention of villagers in Zamfara State. That military jet worth several millions of dollars bought from public treasury, was devastated and destroyed by the armed bandits, but President Muhammadu Buhari simply made a drab Press statement through the noisy Garba Shehu ranting, that the terrorists would be taught a lesson. Weeks turned into months, and months have almost evolved into a year, since these Fulani terror gangsters of the North West shot down the military jet, but the Armed Forces of Nigeria have yet to take them on, apparently waiting for final order from their Commander-in-Chief, President Muhammadu Buhari who hails from Daura in Katsina State, one of the frontline terrorised States in the North of Nigeria. Recent Attack in Kaduna State Sensing the lethargic and poor approach adopted by the Government against their daredevil activities, the armed Fulani terrorists have graduated to ownership of fighter helicopters which they now deploy to attack many soft targets, and Southern Kaduna is Kajuru Local Council in Southern Kaduna, have narrated how a helicopter shelled their villages while they were fighting the invaders. They narrated their ordeal when they visited the President of Southern Kaduna Peoples Union (SOKAPU), Jonathan Asake, at the Union’s National Secretariat in Kaduna. The villagers, led by Rev. Denis Sani of First Evangelical Church Winning All (ECWA), Maikori, said they were at SOKAPU Secretariat to seek assistance for the starving communities, and to brief the President on the tragedy that befell the villages in Kajuru. “It was around noon on June 5, while we were in the church, that we got information that armed Fulani herdsmen were attacking Dangoma and nearby villages. We hastily rounded off our prayers and came out. We then heard that they were in large numbers and heading towards Maikori”, he told the SOKAPU President. “We called for reinforcements, and all the youths came out and we laid ambush for them. We evacuated our women, children and elderly into hiding. In no time, we saw them. They were in large number on scores of motorcycles, each carrying three turbaned herdsmen who all had AK-47 rifles.” According to him, when the herdsmen were getting close to them, they fired their Dane guns at the invaders. “Upon hearing our gunshots, the leader of the armed herdsmen raised his left hand, and came to an abrupt halt. The rest also stopped”, he said. Rev. Sani further remarked that, the killer herders dismounted from the motorcycles and started responding. But, since the villagers were already undercover, they had an upper hand, and the killer herdsmen started retreating, the Guardian learnt. “Eventually, we saw a helicopter coming towards Maikori, and we were happy that help had come”, Sani said. He pointed out that they were shocked to discover that the white helicopter started firing in their direction, even when the motorcycles of the assailants, their positions and mode of dressing, marked them out clearly. “I saw my people running for dear lives, and some were falling. I also ran. It was not possible to face the armed Fulani and the bullets from the helicopter, so we ran for dear lives”, he noted. While they escaped, the herdsmen reportedly entered Maikori, and started burning homes. His words: “As they were burning houses, the helicopter was hovering over the village to defend them from our returning. They took three good hours burning every structure in Maikori, except three or four houses that do not have any valuables. “My church, First ECWA in Maikori, was burnt to ashes. My house and everything I ever worked for, went with the flames. I only came out with what I am wearing. As of now, I cannot tell you exactly how many people were killed from that

TUESDAY, JUNE 21, 2022 ˾ T H I S D AY

Helicopter Terrorists Amidst Docile Citizenry This article by Emmanuel Onwubiko discusses the issue of alleged attacks on innocent Nigerians by terrorists ﬂying in helicopters and raining down bullets on hapless citizens, particularly the recent incident in Southern Kaduna which has been a subject of controversy between the Kaduna State Government and the victims of the alleged attacks. He stresses that it is time for Government to be up and doing, to annihilate these helicopter terrorists as a matter of urgency, to avert dire consequences for Nigeria attack, because we are still picking bodies in the bushes. But, 32 persons have been buried. Other villages that were attacked earlier that day by the same killers are Sabon Gida, Unguwan Sarki and Dogon Noma.” But, in what has become a recurring decimal in Kaduna State's Government circles, the terrorists' tolerant administration in Kaduna rolled out the propaganda machines to tackle the victims of these latest terrorist shelling from the air, just as the Government in a very ridiculous and ludicrous fashion, turned logic on its head by asserting that the helicopter which the victims alluded to that attacked them, was actually a jet belonging to the Airforce which came to the rescue of those same victims and not as the victims claimed. What can be more unbelievable than that? It's like telling a man attacked with hot water, that it was ice cold water that was poured on him. So, how many of the terrorists were killed? Not one of those terrorists were killed. Why are the Kaduna State Government officials so shameless, and can very easily tell barefaced, but illiterate lies? This is because, adults who were attacked, shelled, injured and some killed, the survivors who are lucky to have emerged unscathed are telling their own story, and the Government which failed to do its primary constitutional duty of protecting the people and their hard earned property, was rather busy defending terrorists only because the terrorists share same ethnicity and faith affiliations with the Governor of Kaduna State. How long will these shenanigans and dancing naked in the sun by Kaduna State Government officials, continue? Is there no limit to wickedness? Who wants the Christian community in the North destroyed? Is this why they don't want a Christian Northerner to be nominated as running mate to the Presidential candidate of the All Progressives Congress? The only reason that has emboldened the Kaduna State Government to behave like State sponsors of terrorists, is because the Nigerian public are silenced and shut up by Governmentimposed impoverishment and the weaponisation of hunger by the President Muhammadu Buhari’s

“Burying these cases of sophisticated terrorism under the carpet is not only the institutionalisation of impunity, but it signposts a nation whose populace have long gone to sleep, and are in a deep coma of docility”

administration since coming on board≠≠ more than seven years ago, through cocktails of criminally hatched and poorly delivered economic policies including the policy of donating millions of United States Dollars to Niger Republic. Accountability & Responsibility: Rt. Reverend Samuel Uche’s Experience Anyway, the focus here is that, Nigerians have still not demanded accountability from their elected government public officials, on the credible claims that terrorists have started flying helicopters to attack communities in Southern Kaduna, Owo in Ondo State, and a part of Delta State deep in the Niger Delta crude oil rich region. Any wonder that it is not out of place, as was said by the Prelate of the Methodist Church of Nigeria Rt. Reverend Samuel Uche, that Government is responsible for insecurity across Nigeria. The clergyman had just survived a violent kidnapping by armed Fulani terrorists, and came out alive after payment of N100 million in ransom. Asked to narrate his experience just after it emerged that he was kidnapped by armed Fulani herdsmen, aided by soldiers. He said that what the terrorists did, has nothing to do with IPOB. It was clear kidnapping by Fulani herdsmen because their cattle were very close there, manned by some people. Asked by an eagle eyed media practitioner about who should be blamed for the insecurity in Nigeria, these were his words from his heart: “I don’t blame any government, but I blame the leadership in government, the Bible says that when the righteous are in authority the people will rejoice, but when the unrighteous are in authority the people groan. Are we not groaning? Are you eating well? Do you have all the money you made? Are you paid all the salaries? What is happening with ASUU? What is happening with NASU? What is happening with Labour? That means unrighteous administration”. The Prelate spoke up further: “Some of them are stark illiterates, only one was communicating fluently; and I guess that the way he spoke, maybe he went to a level above secondary school, and that was the one that claimed he was born in Umuahia. He said he was born at Amazukwu, Ibeku. You can’t look at their knives or guns. When they went to collect the ransom, they brought in more people, who were hidden somewhere with more guns. People saw one boy at the

front of the military checkpoint, so our man wanted to harass him, what are you doing here, who are you? The military man said no, no, leave him, he is our boy, and he came to drop something for us. And, it is the same military that says to people, if you cross this line, I will fire you, don’t go to the bush. So, why are they shielding the people? Why are they shielding them? Some people have a plan to do something in this county, there is a plan, they are planning, but only God will foil it”. St. Francis Xavier Catholic Church, Owo, Ondo State Few days after these earth shaking revelations by Prelate of the Nigerian Methodist Church, in which he established a nexus between Fulani terrorists and Army saboteurs aiding and abetting terrorists, the attack in which helicopter was used to drop foodstuffs to armed Fulani terrorists in Owo Forests in Ondo State happened in a packed Saint Francis Xavier Catholic Church in Owo, Ondo State in which many worshippers, including children, were killed by armed Fulani terrorists. Just when Nigerians have hardly removed their mourning clothes, another set of helicopter flying terrorists struck in Southern Kaduna as aforementioned. So, why does anyone doubt, when victims of terror attacks come out to state clearly that helicopter shooters attacked them in Kajuru? What gain is there for them to say they saw terrorists flying in a helicopter and unleashing torrents of bullets in their direction? Assuming the helicopter was that of the Air Force as stated by the Kaduna State Government officials, since there is no credible fact about the terrorists killed by the Air Force helicopter and the poor villagers have now said the helicopter actually shot at them, does this then mean there’s an active partnership between the Air Force of Nigeria and Fulani terrorists? Because shortly after the helicopter attacked the victims of terrorist attack, these same attackers still proceeded to burn down houses and Churches without the helicopter, and succeeded in forcing them to retreat. This is a clear justification of the attestation made by these victims, unless credible evidence is made otherwise available. Chief Gani Adams’ Perspective If the Southern Kaduna victims of terror attacks are deluded, maybe they haven't seen a helicopter before (which isn't the case anyway, because thousands of Southern Kaduna indigenes were educated in Western civilisations), can we also say that Yorubas connived with Northerners in Southern Kaduna to say helicopter flying terrorists aided the terrorists that bombed the innocent Roman Catholic worshippers in Owo, Ondo State recently? The Aare Onakakanfo cont'd on page VII

VII

TUESDAY, JUNE 21, 2022 ˾ T H I S D AY

INSIGHT ABUBAKAR D. SANI

FAPS2001@YAHOO.COM

Rivers State: Who can Prosecute ‘theft’ of a Company’s Equity?

hort answer: it depends on the property allegedly stolen. If it is money or a negotiable instrument, it appears that it is the EFCC, that is, the Economic and Financial Crimes Commission (the EFCC). In any other case, then any number of other agencies (the regular Police, State and Federal Attorney-Generals, etc). However, in the context of the directive recently given by the Rivers State Governor, Nyesom Wike, to the State AttorneyGeneral to prosecute his predecessor, Rt. Hon. Rotimi Amaechi, and others, including the erstwhile CEO of Sahara Energy, Mr Tonye Cole, allegedly for diverting the value of 70% of the equity held by the State in a power generating company, (the First Independent Power Ltd.), the poser assumes a critical dimension.

State or Federal Crime? Without getting into the apparent politics behind the directive (it is an open secret that there is no love lost between the former Governor and the incumbent), it is worth interrogating the legality - or even constitutionality - of the said directive vis-à-vis extant laws. To start with, it is clear that theft, embezzlement or criminal misappropriation, are ordinarily State – and, not Federal – crimes. This general principle is, however, Former Governor of Rivers State, Rt. Hon. Rotimi Amaechi CON tempered by the exclusive power which the Constitu- Governor of Rivers State, Nyesom Wike CON tion gives to the National Assembly (under Sections State - Attorney-General, can prosecute Federal a State Attorney-General. This is because, Section I believe the definition of that phrase (that is, 4(3) and 15(5) and Item 68 of the Exclusive crimes. The said provisions are as follows:7(2)(f) of the EFCC Act provides, inter alia, “economic and financial crimes”) in Section 46 of Legislative List, as well as Paragraph 2(a) of Part Section 221 (1) (a): that: “the Commission shall be the co-ordinating the EFCC puts the issue beyond conjecture. It defines III of the 2nd Schedule) thereof, respectively, to “The Attorney-General of a State shall have agency for the enforcement of the provisions of . . them as “the non-violent criminal and illicit activity abolish corrupt practices/abuse of power and to enact power to institute and undertake criminal proceed- . any other law or regulation relating to economic committed with the objective of earning wealth illegally, criminal legislation in respect of the 67-odd matters ings against any person before any court of law and financial crimes, including the Criminal Code either individually or in a group or organised manner, in the Exclusive Legislative List of the Constitution thereby violating existing legislation, the economic in Nigeria other than a court-marital in respect and the Penal Code”. over which the National Assembly exercises exclusive of any offence created by or under any law of Furthermore, Section 13(2)(a) of the EFCC activities of government and its administration, and legislative authority. the State House of Assembly”. Act gives the Commission the power to prosecute includes any form of fraud, narcotic drug trafficking, One of such matters is contained in Item 32, Section 174 (1) (a): economic and financial crimes (as defined in Section money laundering, embezzlement, bribery, looting namely, the incorporation and regulation of bodies “The Attorney-General of the Federation shall 46 of the Act), including “fraud, embezzlement, and any form of corrupt malpractices, illegal arms corporate, other than those directly established by have power to institute and undertake criminal looting and any form of corrupt practices”. These deal, smuggling, human trafficking and child labour, any law enacted a State House of Assembly. If (as it proceedings against any person before any court (collectively referred to as “theft” in the title of illegal oil bunkering and illegal mining, tax evasion, appears is the case) the First Independent Power Ltd., of law in Nigeria, other than a court-marital, in this piece), it appears, are what Governor Wike foreign exchange malpractices including counterfeiting was incorporated under the erstwhile Companies respect of any offence created by or under any believes art. Hon. Amaechi and others perpetrated of currency, theft of intellectual property and piracy, and Allied Matters Act of 1990, this, to my mind, Act of the National Assembly”. in relation to the sale and disbursement of the open market abuse, dumping of toxic wastes and brings the alleged diversion, misappropriation or sale However, any attempt at resolving the proceeds thereof of the State’s equity in the First prohibited goods, etc.”. of the value of its equity within the purview of the I submit that this definition is wide enough to capture poser presented in the title of this piece would Independent Power Ltd. The specific provisions National Assembly. However, the broader question be incomplete without referring to, at least, the of the Rivers State Criminal Law which might the conduct alleged against Rt. Hon. Amaechi, et al, is whether, at all events, such a crime was created by following laws: the Rivers State Criminal Law possibly have been breached in this regard, in my which Governor Wike has directed the Rivers State a law enacted by either the National and/or a State (the Criminal Code in force in Rivers State), the opinion, include Sections 419, 421, 422 and Attorney-General to prosecute. Can he do that under (in this, case, Rivers) House of Assembly?. State Procurement Act, the Companies and 423 of the Criminal Code. They all prohibit the law, as it stood at all material times? I doubt it. I Is alleged embezzlement or outright theft by public Allied Matters Act, the Economic and Financial fraud and obtaining property by false pretences... believe that a dispassionate analysis of the relevant officials and others of the proceeds of the sale of the Crimes Commission Act and, perhaps, the It can be seen that, whilst the aforesaid provisions provisions will show that, when it comes to economic equity held by a State in an electric power generating/ Independent Corrupt Practices Commission of the EFCC Act are specific, those of the Criminal and financial crimes, the final say, in terms of their distributing company registered under a Federal law Act. While the first two were enacted by the Code (and, thus of the State Attorney-General prosecution, lies with the Economic and Financial (as the First Independent Power Ltd. apparently was, Rivers State House of Assembly, the last three are to prosecute crimes), are general. It is trite law Crimes Commission, either acting independently or at at all material times) a Federal and/or a State crime? Federal laws - enacted by the National Assembly. that in such a situation, the specific provisions the behest of the Attorney-General of the Federation. That is the question. If the former is the case (that is, One of these laws, in particular (the Economic prevail over the general ones: specilibus generalia it was a federal crime, created by a federal law), the and Financial Crimes Act), appears to support the derogant: SCHROEDER v MAJOR & CO. Conclusion implication, in my view, is that the said directive issued view that theft, misappropriation or embezzlement (1989) 2 NWLR pt. 101 pg. 1, S.C. If Governor Wike is serious about prosecuting by Governor to his State Attorney-General to prosecute of the value of a State-owned company’s equity As to the relationship between the Attorney- anyone (not just Rotimi Amaechi) for any alleged Rt.Hon. Amaechi and others might be misplaced. is a Federal and, not a State, crime and, therefore, General of the Federation and the EFCC, economic or financial crime within the definition This is because, by virtue of relevant provisions of is under the prosecutorial powers of the EFCC/ Section 43 of the EFCC Act provides that of Section 46 of the EFCC Act, either in connection the Constitution, only the Federal – as opposed to a the Attorney-General of the Federation, and not “the Attorney-General of the Federation may with the disbursement of the proceeds of the sale make rules or regulations with respect to the of the State’s equity in the First Independent Power exercise of any of the duties, functions or powers Ltd. (its four gas turbines), or otherwise, he should of the Commission under this Act”. One such do so through the EFCC. Regulation - made by the immediate past The Rivers State Attorney-General is legally and Attorney-General of the Federation, in 2011 - is constitutionally incompetent, to execute that mandate. still in force. To my mind, the implication of this The latter’s power to initiate or undertake criminal is that, as between a State Attorney-General and prosecutions, is limited to non-economic or non-financial a Federal Attorney-General, the latter occupies crimes created by any law made by the State House a position of pre-eminence over the former vis- of Assembly – such as the Criminal Code or the State à-vis the prosecution of economic and financial Procurement Act. Anything beyond that, would be crimes in Nigeria. ultra vires and invalid.

“….. the said directive issued by Governor to his State Attorney-General to prosecute Rt. Hon. Amaechi and others might be misplaced.This is because, by virtue of relevant provisions of the Constitution, only the Federal – as opposed to a State - Attorney-General, can prosecute Federal crimes”

Helicopter Terrorists Amidst Docile Citizenry cont'd from page VI

of Yoruba land, Chief Gani Adams, provided empirical evidence when he said that, the terrorists who attacked the St. Francis Catholic Church members camped in a secret forest, and were being fed by food supplied by a helicopter. Adams revealed that the South-West Security Stakeholders Group (SSSG) had five weeks ago, raised an alarm that some terrorists had invaded the South-West, but the South-West Governors ignored it. Adams made the disclosure in his reaction to the St. Francis Catholic Church massacre, according to Nigerian Tribune. According to him, he also suspected that the heinous attack was carried out by an international organisation as, “It was a highly coordinated attack”. “This is the first time we are witnessing this type of attack in Yoruba land. We have seen different attacks perpetrated by Fulani herdsmen, however, the Owo

Church attack sounded unusual. “The information at our disposal indicated that the attackers were about seven in number, and they came with explosives that were allegedly planted under the altar of the Church. “And immediately the bomb exploded, it was a horror as worshippers were scampering for their lives, and at the same time, the attackers were shooting sporadically. “So far, according to the State Government, 38 people were killed while about 64 others were still at the hospital. We pray not to have more casualties. “This attack is highly condemnable. Any right-thinking person will condemn it totally. “However, on the Owo Church attack, the SSSG raised the alarm about five weeks ago, that some terrorists have invaded the South-West, but unfortunately none of the State Governors really

addressed the issues. So, what led to the Owo attack was premeditated. “The information we had earlier, was that some terrorists have invaded a very close forest in Owo. “These terrorists, according to our information, have their food being supplied to them via helicopter, and the Olowo, who is the traditional ruler of the ancient town, even the State Government, could not flush them out of the thick forest “So, that tells you that they have occupied the bush to perpetrate their calculated killings”, he added. Conclusion There is the urgency of the now, for Nigerians to shake off their perennial delusional docility,

and actively make demands of accountability from their elected government officials, and there is the need for thoroughness on the part of leaders to institute commission of investigators on these recurring cases of helicopters being deployed by terrorists to attack citizens. Burying these cases of sophisticated terrorism under the carpet is not only the institutionalisation of impunity, but it signposts a nation whose populace have long gone to sleep, and are in a deep coma of docility. This lethargic and conspiratorial silence by President Muhammadu Buhari’s administration, on all these huge cases of the sophisticated upgrade by Fulani terrorists, is heart-rending. We must destroy these helicopter terrorists, or the helicopter terrorists will bury Nigeria. Emmanuel Onwubiko, Head, Human Rights Writers Association of Nigeria ; former National Commissioner, National Human Rights Commission of Nigeria

VIII

TUESDAY, JUNE 21, 2022 ˾ T H I S D AY

COVER

Ayodele Akintunde, SAN

‘ECNBA Will Deliver a Credible Election for Nigerian Lawyers’ Again, Nigerian Lawyers gear up for the biennial elections, to usher in a new Exco of the Nigerian Bar Association (NBA). The previous elections had come with peculiar challenges, especially with hitches and glitches associated with e-voting. The Chairman of the 2023 Election Committee of the Nigerian Bar Association (ECNBA), Ayodele Akintunde, SAN assures Nigerian Lawyers that his Committee will deliver a free, fair, credible and controversy-free election next month, when they go polls to elect new their leaders. He also told Onikepo Braithwaite and Jude Igbanoi in a down-to-earth chat, that his Committee won’t hesitate to wield the big-stick, if any of the contestants break the rules

ou are saddled with the unenviable task of midwiﬁng the national elections of the Nigerian Bar Association (NBA) this year. Given the controversies and crisis that have trailed NBA elections since the introduction of electronic voting system, how do you intend to address these concerns by Nigerian Lawyers in this election? Thank you very much for your question. While many see my task of midwifing the national elections of the Nigerian Bar Association (NBA) as an

unenviable task, I consider it as a privilege and honour to serve the NBA in this capacity. I was privileged in 2020, to be appointed by the President of the Nigerian Bar Association, Mr Olumide Akpata, to Chair the NBA Electoral Audit and Reform Committee which was charged with the responsibility of auditing the 2016, 2018 and 2020 elections of the NBA which were conducted by electronic voting. The Committee’s work afforded me the opportunity to understand first-hand, the various challenges that plagued previous elections conducted by

“All hands are on deck to deliver a controversy-free election for Nigerian Lawyers, and we have put everything in place to address concerns about pre-election issues, election day issues and post-election issues”

electronic voting. The NBA Electoral Audit and Reform Committee made several recommendations, to address the challenges of electronic voting in these previous elections. Some of the recommendations were accepted by the NBA, and incorporated in the amended Constitution of the NBA 2015 (as amended in 2021). While some may describe my task “unenviable task”, I see it as a challenge and an opportunity to change the narrative about controversial elections, and deliver to Nigerian Lawyers a transparent, controversy-free, fair and credible election by electronic voting this year. My Committee members and I, see this task as an opportunity for Nigerian Lawyers to redeem our image, and show the whole world that the largest body of Lawyers in Africa can conduct free, fair and credible elections of our national officers successfully using technology. All hands are on deck to deliver a controversy free election for Nigerian Lawyers, and we have put everything in place to address concerns about pre-election issues, election day issues and post-election

issues. The ECNBA is zeroed in to address all the past challenges, and give Nigerian Lawyers a transparent and rancour free election. It’s just a few short weeks to the election, yet the IT company to administer the server and voting portal is yet to be made known. Is this intentional, given the fact that previous elections raised issues of fraud and compromise. In fact, some cases are still pending in court. Who is the IT provider for this election? The IT provider plays a very key role in the success of the election, as such, we will leave no stone unturned to make sure we choose the right provider whose technology platform is very secure, robust and has the capacity to handle the number of anticipated voters in this election. The ECNBA received proposals from eminently qualified IT providers with distinct e-voting solutions; hence, we are undertaking a rigorous selection process, which is well advanced, and we will be making the announcement once we finalise the process. There has been a lot of advancement in technology over the years, and we are ensuring that the IT provider can leverage these

IX COVER

TUESDAY, JUNE 21, 2022 ˾ T H I S D AY

‘ECNBA Will Deliver a Credible Election for Nigerian Lawyers’ cont'd from page VIII

improvements to deliver a world class election that will be the envy of other associations, and a reference point for elections by electronic voting in Nigeria. What would you say are your biggest challenges in this crucial assignment, before and after the elections? There are several big challenges in this crucial assignment, but none of them are insurmountable. One of the big challenges is the trust deficit in electronic voting by a few Nigerian Lawyers. They have been disappointed several times, by the controversial outcomes. As Chairman of the ECNBA, I am working with a committed team of well-respected members of the Bar, dedicated to leaving no stone unturned to deliver a controversy-free, rancour free, transparent, credible, free and fair election by electronic voting. We recognise that there will be challenges at every step, and we are dealing with them. We will continue to work assiduously to build the voters confidence from this election, going forward. I want to assure Nigerian Lawyers that, by God’s grace, we will deliver on our promise of a credible electoral process. Another big challenge, is accurate data of Nigerian Lawyers who are qualified to vote. It is one thing to qualify to vote having paid your Bar practising fees as and when due, another thing is being able to exercise your vote. To be able to exercise your vote, your records with the NBA must be up to date, that is, your phone number and email address. Your Supreme Court Number must also be accurate. These unique credentials must be correct, to enable you get your ballot on election day and vote. The ECNBA has been sensitising members of the NBA on the need to visit the NBA portal to confirm their emails and phone numbers, or where applicable, update them to ensure that their records are up to date. Every Nigerian Lawyer who is qualified to vote, has a responsibility to help the ECNBA in this regard. The ECNBA is committed to doing all that is humanly possible to ensure that on election day, all qualified voters can vote. In offices, ministries and organisations, where Bar Practising Fees were paid in bulk on behalf of other Lawyers, you all need to promptly go to the NBA portal to check that your telephone numbers and email addresses are correct. Another big challenge, is losers refusing to accept defeat after the announcement of election results. In any election, there will always be a winner and a loser. I remember the first time the NBA Lagos Branch conducted elections by electronic voting, I was the Chairman of the Branch’s Election Committee. Within minutes of the announcement of the results, the losing candidates

Ayodele Akintunde, SAN

congratulated the winning candidates because the election process was transparent, free, fair and credible. I hope that at the end of the 2022 elections of National Officers of the NBA, losers will congratulate winners, and together with their supporters work together for the growth and development of the Nigerian Bar Association. Your Committee was inundated with petitions relating to the noncompliance with some sections of the NBA Constitution on rotation of the ofﬁce of President. There were other petitions against some of the candidates on qualiﬁcation, based on how long they had been in a particular Branch. Also, allegations of professional misconduct. How did your Committee resolve these knotty issues, if it has? The ECNBA received several petitions against several candidates, and we have dealt with all the petitions. The petitions were sent to the respective candidates for their responses and after receipt of the responses, we met as a Committee and deliberated extensively on the petitions and their responses, before rendering our deci-

“To be able to exercise your vote, your records with the NBA must be up to date, that is, your phone number and email address. Your Supreme Court Number must also be accurate”

sions. We painstakingly applied the provisions of the NBA Constitution in our decision-making process. Some of the petitions were clearly asking the ECNBA to decide matters which were already pending in court or before the Legal Practitioners Disciplinary Committee, or for which the ECNBA had no requisite powers to deal with. All our decisions on each of the petitions were unanimous, and we communicated our decisions to the petitioners in writing. One election rule which many candidates have consistently broken, is that of visiting Branches and donating money to Branches. We have noticed this trend, even in this election. Why hasn’t the ECNBA wielded the big stick so far? The relevant sections of the NBA Constitution on this point are Part IV (12), (13) (14), (15) and Part V (8), (9), (10) & (11). These provisions do not prohibit visits to Branches by candidates. What the NBA Constitution prohibits are publications, printing, distribution of any campaign materials, donations and philanthropic gestures, gifts, or any form of souvenirs whatsoever by a candidate or his/ her supporters. Also, branches, sections, & Fora are prohibited from soliciting contributions, donations, or sponsorship from candidates, and any form of financial inducement including paying annual practising fees or Branch dues for Lawyers to curry favour from voters, or for any reason whatsoever by candidates and their supporters are prohibited.

The ECNBA does not act on speculations, nor does the ECNBA prowl around Branches, Sections, and fora in search of candidates who have violated campaign guidelines. If you are aware of any candidate that has violated these provisions, please, come forward with their names, evidence of donations made or other violations, the name of the Branches, sections or fora involved and the ECNBA will look into the matter. So far, we have received a few petitions to disqualify candidates for breach of campaign guidelines. We will follow due process in the resolution of the petitions, and publish our decision soon. We continue to urge all candidates to comply with the campaign guidelines as stipulated in the Constitution, and not exploit any perceived loopholes. Rest assured that, the ECNBA will not hesitate to wield the big stick to sanction campaign violations. The issue of debate amongst candidates is one that most Lawyers look forward to, despite the fact that in previous elections ECNBA never properly organised these debates. When and how will your Committee have this debate, which many Lawyers see as the crucial part of the campaign? We have just published an Electronic Magazine on the NBA and ECNBA websites, to enable Nigerian Lawyers see the Curriculum Vitae, Manifestoes and Campaign materials of all the candidates and the offices that they are vying for. The next stage is to organise debates, and we will soon roll out our timetable and schedule for the debates. We recognise that debates are crucial parts of campaigns; and rest assured that the debates will be robust, well organised and well publicised.

TUESDAY, JUNE 21, 2022 ˾ T H I S D AY

TALKING CONSTITUTIONAL DEMOCRACY DR. MIKE OZEKHOME, SAN

0809 889 8888 SMS ONLY

Introduction his column has since 2018, week after week, discussed constitutionalism, democracy, human rights, rule of law and good governance. They are all inter-wined. It is nigh impossible to discuss good governance, without discussing those components that energise good governance. One of the attributes of good governance is the provision of infrastructure, social and economic amenities. One of such amenities that is critical to democracy, is electricity. Does Nigeria have accessible and affordable electricity, like South Africa, for example? I think not. We shall from today, discuss this critical amenity whose absence has stunted Nigeria’s growth, and besmeared her democratic credentials with the paint brush of shame, odium and obloquy.

PHCN or NEPA The Power Holding Company of Nigeria (PHCN), formerly known as National Electric Power Authority (NEPA), is an organisation in charge of electricity in Nigeria. The electricity sector in Nigeria currently generates, transmits and distributes megawatts of electric power, that is significantly lower than Nigeria’s required household and industrial needs. In 2012, the industry had laboured to distribute a mere 5,000 megawatts, very much less than the 40,000 megawatts needed to sustain the basic needs of the population. How Much Electricity Do We Have? Nigeria is endowed with large oil, gas, hydro and solar resources, and it has the potential to generate 12,522 MW of electric power from existing plants. This is the estimated quantum of electricity that Nigeria ought to be producing daily with all our numerous endowments. Unfortunately, on most days, we are only able to dispatch approximately 4,000 MW , which is insufficient for a country of over 215 million people (by UN projection), a country that boasts of numerous businesses and infrastructure. Many Sources of Power in Nigeria In Nigeria, there are four major sources through which power is provided: coal, hydro, oil (petroleum) and natural gas. Among these, the whole energy sector is dependent only on petroleum, a factor that slows down the production of electricity and development in alternative forms of energy. 45% of the Nigerian population, is currently connected to the energy National grid. However, the grid only supplies energy about 85% of the time; and is virtually nonexistent in many parts of Nigeria. After the privatisation of electricity in Nigeria, the transmission and supply of power in Nigeria were divided amongst several companies with different functions. The Generating Companies (GenCos) are those in charge of the actual generation of the electricity; transmission and distribution are left to the Transmission Company of Nigeria (TCN), and the Distribution Companies (DisCos), respectively. The GenCos are tasked with transforming hydro and gas power, into electricity power. History of Electricity Generation in Nigeria Electricity was first generated in Nigeria in 1866, when two generating sets were installed in the Colony of Lagos. However, the first electric utility company in Nigeria known as the Nigerian Electricity Supply Company (NESC), was established in 1929. In 1951, the Nigerian Government by an Act of Parliament, established the Electricity Corporation of Nigeria (ECN), to regulate and operate power supply in Nigeria. The Evolution and Revolution As part of the evolution in the Power Industry in Nigeria, the Federal Government by Decree No. 24 of 1972, created the National Electric Power Authority (NEPA). This was consequent upon the merger of the Electricity Corporation of Nigeria and Niger Dams Authority (NDA). In September, 1990, the partial commercialisation came into being, with the appointment of a Managing Director/Chief Executive to superintend over the Corporation. Also, the Authority was divided into four autonomous divisions, namely: Generation and Transmission; Distribution and Sales; Engineering; Finance and Administration. Each division was headed by an Executive Director. By the year 2000, a state-owned monopoly, the National Electric Power Authority (NEPA), was put in charge of the generation, transmission and distribution of electric power in Nigeria. NEPA operated as a vertical integrated utility company, and had a total generation capacity of about 6,200 MW from 2 hydro and 4 thermal power plants. This ended up becoming a

The NEPA in PHCN: How Nigerians Pay for Darkness (Part 1) problem, as there was unstable and unreliable electric power supply situation in the country, with consumers frequently exposed to power cuts and long period of power outages. It was an industry characterised by lack of maintenance of power infrastructure, outdated power plants, low revenues, high losses, power theft and non-cost reflective tariffs. In 2001, the reform of the electricity sector began with the promulgation of the National Electric Power Policy which had as its goal, the establishment of an efficient electricity market in Nigeria. It had the overall objective of transferring the ownership and management of the infrastructure and assets of the electricity industry to the private sector, with the consequent creation of all the necessary structures required to forming and sustaining an electricity market in Nigeria. The Federal Government of Nigeria (FGN) thus, took further steps towards the Restructuring of the Nigerian Power Sector to establish an electricity supply that is efficient, reliable and cost-effective throughout the country, and which will attract private investment. Subsequently, another Power Sector Reform Act was enacted in 2005, transferring the public monopoly of NEPA to Power Holding Company of Nigeria (PHCN) which was unbundled into 18 Business Units (BU); vis 11 Distribution companies; six Generation companies and one Transmission company. The Transmission Company of Nigeria (TCN) is one of the successors of the unbundled PHCN, and is currently an asset held under the custodianship of the Federal Ministry of Power. It will initially remain publicly owned. TCN has the responsibility for the management of operation, maintenance and expansion of the 132kV and 330kV transmission system. The Bureau of Public Enterprise (BPE) recently appointed a Management Contractor, Manitoba Hydro International (MHI) for TCN which took over the functions of Transmission Service Provider, System Operator and Market Operator to undertake the overall management of TCN. System Operations (SO) function was established as a sector within the defunct Power Holding Company of Nigeria under the Transmission sector. The SO has now evolved into a semi-autonomous sector under TCN, and upon acquiring its licence, will operate as an independent company in future. The main responsibility of the System Operator is to operate the transmission system and the connected installed generation, in a safe and

“Nigeria, known to have Africa’s largest economy, has one of the world’s worst power sectors, producing an average of 5,000 megawatts of electricity for a population of about 215 million…..”

reliable manner. SO is also responsible for the overall security and reliability of the grid system, economic dispatch of available generation resources and maintaining system stability. SO has seven functional departments namely; Operations/ Control, System Planning, SCADA, Communications, Technical Services, Transitional Electricity Market and System Performance. SO is headed by the Executive Director (System Operation). The operational control hierarchy is as follows: r /BUJPOBM $POUSPM $FOUSF /$$ 0TPHCP r 5ISFF 3FHJPOBM $POUSPM $FOUSFT 3$$T BU Shiroro, Ikeja West and Benin. With proposed control centres at Kano, Alaoji and Gombe r &JHIU 3FHJPOBM 0QFSBUJPOT $PPSEJOBUJOH VOJUT (ROCs) at Benin, Enugu, Port-Harcourt, Bauchi, Kaduna, Shiroro, Osogbo and Lagos – several Area Control Centres covering 330kV and 132kV substations, which fall under the supervision of the ROCs. The mission statement was exercising grid control to maintain an efficient, coordinated and economic supply of electricity in accordance with the grid code and operational procedures. The vision was to operate the grid system efficiently, to ensure open access, safe, reliable and economic electricity supply In 2005, the Electric Power Sector Reform (EPSR) Act was enacted and the Nigerian Electricity Regulatory Commission (NERC) was established as an independent regulatory body for the electricity industry in Nigeria. In addition, the Power Holding Company of Nigeria (PHCN) was formed as a transitional corporation that comprises of the 18 successor companies (6 generating companies, 11 distribution companies and transmission company), all created from NEPA. In 2O10, the Nigerian Bulk Electricity Trading Plc (NBET) was established as a credible off-taker of electric power from generation companies. By November 2013, the privatisation of all generation and 10 distribution companies was completed, with the Federal Government retaining the ownership of the transmission company. The privatisation of the 11th distribution company, was completed in November 2014. Nigeria, known to have Africa’s largest economy, has one of the world’s worst power sectors, producing an average of 5,000 megawatts of electricity for a population of about 215 million since the establishment of its electricity institutions. According to World Bank Report, over 80 million people do not have access to the national grid; and power shortages cost the country $29 billion per annum. By comparison, South Africa, the continent’s second biggest economy, generates about 55,000 megawatts for a population of only about 58 million. Successive governments have tried, but failed to reform Nigeria’s energy sector. The main problems are decaying infrastructure, low investment, debts, and poor management. There are also “operational inefficiencies”, so said PricewaterhouseCoopers (PwC), in a 2020 report. The Operation of the Power Sector

Transmission The Transmission Company of Nigeria (TCN), manages the electricity transmission network in the country. It is one of the 18 companies that was unbundled from the defunct Power Holding Company of Nigeria (PHCN) in April 2004, and is a product of a merger of the transmission and system operations parts of PHCN. It was incorporated in November 2005, and issued a transmission licence on July 1, 2006. The TCN is presently fully owned and operated by the Government, and as part of the reform programme of the Government, it is to be reorganised and restructured to improve its reliability and expand its capacity. TCN’s licensed activities include electricity transmission, system operation and electricity trading. It is responsible for evacuating electric power generated by the electricity generating companies (GenCos) and wheeling it to distribution companies (DisCos). It provides the vital transmission infrastructure between the GenCos and the DisCos’ Feeder Sub-stations. TCN consists of three operational departments: 1. Transmission Service Provider (TSP) The TSP oversees the development and maintenance of the transmission infrastructure. It is responsible for the national inter-connected transmission system of substations and power lines, and providing open access transmission services. Its role is to maintain the physical infrastructure that make up the transmission grid, and expand it to new areas. 2. System Operations (SO) The SO manages the flow of electricity throughout the power system, from generation to distribution companies. It operates the Grid Code for the Nigerian Electricity Supply Industry (NESI). The SO has the responsibility for ensuring that the transmission grid lines are reliable, and maintaining the technical stability of the grid through its operations of planning, dispatch, and control of the electricity on the grid. 3. Market Operations (MO) The MO administers the market rules of the NESI. It is responsible for the administration of the Electricity Market, and promoting efficiency in the market. Specifically, the roles of MO include implementing and administering the Nigerian Electricity Market Rules; drafting and implementing the Market Procedures; administration of the Commercial Metering System, by ensuring that each trading point has adequate metering systems in place; administration of the Market Settlement System; Administration of the Payment System and commercial arrangement of the energy market, including Ancillary Services; supervising Electricity Market Participants’ compliance with and enforcing the Market Rules and the Grid Code. The functions also encompass periodic reporting on the implementation of the Market Rules; capacity building of market of Participants on the Market Rules and Procedures and Trading Arrangements, finally, at the long-term stage of the electricity market, of the MO is to ensuring and promoted competition among market participants. THOUGHT FOR THE WEEK “I believe the processes of good governance, have gone astray. Specifically, there is an erosion of transparency, independence and accountability”. (Tan Cheng Bock)

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TUESDAY, JUNE 21, 2022 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

Russian Journalist Sells Nobel Prize for Ukrainian Children What’s the price of peace? That question could be partially answered Monday night when Russian journalist Dmitry Muratov auctions off his Nobel Peace Prize medal. The proceeds will go directly to UNICEF in its efforts to help children displaced by the war in Ukraine. Muratov, awarded the gold medal in October 2021, helped found the independent Russian newspaper Novaya Gazeta and was the publication’s editor-in-chief when it shut down in March amid the Kremlin’s clampdown on journalists and public dissent in the wake of Russia’s invasion of Ukraine. It was Muratov’s idea to auction off his prize, having already announced he was donating the accompanying $500,000 cash award to charity. The idea of the donation, he said, “is to give the children refugees a chance for a future.” In an interview with The Associated Press, Muratov said he was particularly concerned about children who have been orphaned because of the conflict in Ukraine. “We want to return their future,” he said. He added that it’s important international sanctions levied against Russia do not prevent humanitarian aid, such as medicine for rare diseases and bone marrow transplants, from reaching those in need. “It has to become a beginning of a flash mob as an example to follow, so people auction their valuable possessions to help Ukrainians,” Muratov said in a video released by Heritage Auctions, handling the sale but not taking any share of the proceeds. Muratov shared the Nobel Peace Prize last year with journalist Maria Ressa of the Philippines.

Zelensky Expects Increase in Russian Hostility Ahead of EU Vote

Ukrainian President Volodymyr Zelensky said “we should expect greater hostile activity from Russia” this week as European Union leaders consider whether to support candidate status for Ukraine in the EU. “And not only against Ukraine, but also against other European countries. We are preparing. We are ready. We are warning partners,” Zelensky said in his nightly address Sunday. The European Commission recommended last week that Ukraine receive candidate status. The 27 member states will discuss the issue and give their votes during a summit Thursday and Friday. If Ukraine does advance to candidate status, the process for joining the EU in full could take several years. Zelensky said, “fierce fighting continues in Donbas,” the eastern region of Ukraine that has been the focus of Russian efforts in recent months. Meanwhile, US Treasury Secretary Janet Yellen and Canadian Finance Minister Chrystia Freeland are set to discuss sanctions and other ways to boost economic pressure against Russia in a meeting Monday in Toronto.

Israel to Dissolve Government, Hold New Elections

Israeli Prime Minister Naftali Bennett’s office announced the country’s coalition government would be disbanded, triggering a new election. Bennett and his main coalition partner, Yair Lapid, will dissolve parliament in the coming days, Bennett’s office said. Lapid will serve as caretaker prime minister until a new government can be formed. Bennett’s government had been fragile since it came to power a year ago — a coalition of eight diverse parties that included right-wing, liberal and Muslim Arab parties. The grouping started to fracture after several members of Bennett’s party abandoned it, saying they felt Bennett was making too many compromises to his coalition partners. The new election could give longtime Prime Minister Benjamin Netanyahu a chance to return to power. Netanyahu is currently the opposition leader after 12 years in power. He said Friday that parliament’s dissolution would be “great tidings” for millions of Israelis and predicted his Likud Party would lead the new government. Bennett formed the eight-party coalition last year after four successive inconclusive elections. The next election will be Israel’s fifth in three years. Israeli Defence Minister Benny Gantz said in a tweet Monday that the government would “continue to work ... even during the transition period.” The change in government comes just weeks ahead of a planned visit to Israel by US President Joe Biden.

Syria Says Attack on Bus Kills 13

Syrian state media said Monday an attack on a bus in northern Syria killed 13 people, including 11 government troops. The state-run SANA news agency said the attack happened in the Jabal al-Bishri area of Raqqa province. The report did not specify how the attack occurred, and there was no immediate claim

of responsibility. The Islamic State group once controlled the province, with the militants claiming its main city of Raqqa as the de-facto capital of their self-declared caliphate encompassing parts of Syria and Iraq.

Afghan Taliban Free 5 British Nationals from Custody

Afghanistan’s Taliban confirmed Monday they had freed several British men after holding them for about six months. The confirmation came shortly after British officials announced that five of their citizens had been released from detention in Afghanistan. In a Twitter post, Taliban government spokesman Zabihullah Mujahid said that the men were detained for breaching Afghan laws and traditions. He said they were handed over to the United Kingdom on Sunday following a series of meetings between the Taliban and the UK government. “They pledged to adhere to the laws of Afghanistan, the traditions and the culture of the people, and not to violate them again,” Mujahid added. The British Foreign Office welcomed the release and noted the five men had travelled to the South Asian nation against the advice of the UK government. “This was a mistake,” the statement quoted a representative as saying. “On behalf of the families of the British nationals, we express their apologies for any breach of Afghan culture, customs or laws and offer their assurance of future good conduct. The UK government regrets this episode.” British Foreign Secretary Elizabeth Truss wrote on Twitter that the freed prisoners “will soon be reunited with their families” and thanked British diplomats for their role in securing their release.

IMF in Sri Lanka for Bailout Talks Amid Terrible Economic Crisis

A team from the International Monetary Fund is in Sri Lanka for crucial bailout negotiations with the crisis-ridden country that is left with virtually no foreign exchange to import food, fuel and medicines. The talks began on Monday as schools and government offices shut down for two weeks and switched to working online to conserve fast-depleting fuel supplies. “We reaffirm our commitment to support Sri Lanka at this difficult time, in line with the IMF’s policies,” the lender said in a statement. The nine-member team has met Prime Minister Ranil Wickremesinghe and will be in the country for 10 days. Economists say talks with the IMF are critical for the country as it faces virtual bankruptcy. Wickremesinghe told parliament earlier this month that Sri Lanka needs at least $5 billion to meet essential imports for the rest of the year. Earlier, the government had suspended

its repayment of foreign debt. The economic situation has been exacerbated by a political crisis that has led to months of protests demanding President Gotabaya Rajapaksa step down. The meltdown is blamed on mismanagement by the Rajapaksa family, which held many crucial positions in the government and the COVID-19 pandemic that ended crucial tourism earnings.

Japan Court: Ban on Same-Sex Marriage Constitutional

A Japanese court ruled Monday that the country’s ban on same-sex marriage does not violate the constitution and rejected demands for compensation by three couples who said their right to free union and equality had been violated. The Osaka District Court ruling is the second decision on the issue and disagrees with a ruling last year by a Sapporo court that found the ban on same-sex marriages unconstitutional. It underscores how divisive the issue remains in Japan, the only member of the Group of Seven major industrialised nations that does not recognise same-sex unions. In its ruling, the Osaka court rejected the plaintiffs’ demand for 1 million yen ($7,400) in damages per couple for the discrimination they faced. The plaintiffs — two male and one female — were among 14 same-sex couples who filed lawsuits against the government in five major cities — Sapporo, Tokyo, Nagoya, Fukuoka and Osaka — in 2019 for violating the rights to free union and equality. They argued that they had been illegally discriminated against by being deprived of the same economic and legal benefits that heterosexual couples enjoy through marriage. Support for sexual diversity has grown slowly in Japan, but legal protections are still lacking for lesbian, gay, bisexual and transgender people. LGBTQ people often face discrimination at school, work and at home, causing many to hide their sexual identities. Rights groups had pushed for passage of an equality act ahead of last summer’s Tokyo Olympics when international attention was focused on Japan, but the conservative governing party quashed the bill.

Belgium Returns Lumumba’s Remains to Family

The tooth of assassinated Patrice Lumumba, Congo’s first democratically elected leader, is scheduled to be handed over to his family Monday. The Belgium government will hand over the tooth to Lumumba’s family in an official ceremony in Brussels. Lumumba was Congo’s first democratically elected prime minister in 1960 and was hugely

popular with his countrymen and largely unpopular with European and American powers. The Congo had been a Belgium colony. At his inauguration ceremony in 1960, Lumumba spoke in graphic detail about the atrocities the Congolese people had suffered under their Belgium colonizer, angering Belgian King Baudouin, who was present. Lumumba was in office for less than a year when Col Joseph Mobutu seized power in a coup. Shortly after the coup, the young prime minister faced a firing squad. Belgian police officer Gerard Soete and his brother took charge of the grizzly details of dismembering and dissolving Lumumba’s body, according to Belgian writer Ludo De Witte, the author of the book “The Assassination of Lumumba.” Decades later, in 1999, Soete came forward and acknowledged that he had Lumumba’s gold crowned tooth.

Britain Set for Biggest Rail Strike in Decades

This week, Britain’s railway network faces its biggest strike action in more than three decades over pay as soaring inflation erodes earnings. Rail union, the RMT, has said that more than 50,000 workers will participate in a three-day national strike, coinciding with major events, including the Glastonbury music festival. Schools are warning that thousands of teenagers taking national exams will also be affected. The RMT argues that the strikes are necessary as wages have failed to keep pace with inflation, which has hit a 40-year high. Jobs are also at risk with passenger traffic yet to fully recover after the lifting of coronavirus pandemic lockdowns. Countries worldwide are being hit by decades-high inflation as the Ukraine war and the easing of COVIA restrictions fuel energy and food price hikes. The strikes are planned for Tuesday, Thursday and Saturday in the biggest dispute on Britain’s railway network since 1989, according to the RMT. The union has also announced a 24-hour walkout of its members on the Tube, London’s underground railway network, planned for Tuesday. Rail operators, however, warn of disruption throughout the week -- with lines not affected by strike action nevertheless reducing services. “Talks have not progressed as far as I had hoped and so we must prepare for a needless national rail strike and the damaging impact it will have,” said Andrew Haines, chief executive of Network Rail, which looks after the country’s rail tracks. “We, and our train operating colleagues, are gearing up to run the best service we can for passengers and freight users next week despite the actions of the RMT.”

T H I S D AY ˾ TUESDAY JUNE 21, 2022

FEATURES

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

Obasanjo's Philanthropy as Building Blocks of Sustainable Development To mark the 85th birthday of one of Africa's foremost statesman and Nigeria’s former president, Olusegun Obasanjo, 85 beneficiaries became owners of tricycles through their participation in 'OBJ @85 Free Keke Programme’. James Sowole in Abeokuta reports that this act of philanthropy went a long way in empowering the winners

rofessor Jeffrey D. Sachs, worldrenowned economist, likens development as a ladder, and on this ladder, individuals climb each rung one step at a time. In his illustration in his book, The End of Poverty: Economic Possibilities of our Time, he declares that the basic steps in ending extreme poverty is to get the poor to put their feet unto the ladder of development. Every other action in the development process would involve actions aimed at keeping such persons stayed on that ladder. He argues that this development ladder hovers above the heads of the poor while they are stuck beneath it, principally because they lack access to the basic capital they need to get a foothold on the ladder. He classifies this capital that the poor lack into six categories: human capital; business capital; infrastructure, natural capital, public administration, and knowledge capital. The lack of these forms of capital or their existence in very low quantities per person leads to what Sachs, the Director of Earth Institute at Columbia University, New York, calls the trap of poverty. This explains why the poor can be stuck at very low levels of development over long periods of time because they lack the lever that can lift them from one level of activity to the other. Or, on the analogy of the ladder, they are not able to lift their legs to the first rung of the ladder. “They lack the minimum amount of capital necessary to get a foothold, and therefore need a boost up to the first rung,” Sachs wrote in his book. Every little addition of capital to the production process, whether business capital, human capital, natural capital or knowledge capital is an elixir to the individual that lifts him or her to the next rung. It is through such incremental accumulation of capital that individuals, and therefore the society collectively climbs on the path of sustainable development. This is the process by which nations’ capital stocks grow and by that, the productive capacity grows. The result of that process is usually the attainment of stable development that can stand the fluctuations that economies often go through. This is what happened with 85 “lucky” Nigerians recently. Each of them became the owner of brand new tricycles (known as keke in local parlance) has become part of the rhythm and colour of most of Nigerian cities where they facilitate the movement of people, goods and services. They became the owners of the Kekes through their participation in the “Obasanjo @85” event, ‘OBJ @85 Free Keke Programme’ The event took place on Saturday, June 11, 2022, at the Olusegun Obasanjo Presidential Library, Abeokuta to mark the 85th birthday of one a foremost African statesman and Nigeria’s former president, Olusegun Obasanjo. Each of the beneficiaries participated in a transparent online competition that invited Nigerian youths from across the 36 states and the Federal Capital Territory to apply for the tricycles. Since its introduction into the Nigerian transportation scene in the 1990s by BrigadierGeneral Buba Marwa (hence the name, Keke Marwa), who was the Military Administrator of Lagos State then, Keke has become synonymous with the people’s city wagon, giving Nigerians at the base of the economic pyramid a shot at economic empowerment. Across the nation, Kekes have become a platform that empowers individuals to climb unto the first rung of the development ladder, bidding poverty goodbye. Possession of one Keke can thus set an individual on the path of economic and financial independence, if it is operated well and professionally.

Former President Olusegun Obasanjo with some beneﬁciaries at the distribution of tricycles to empower some youths as part of activities for his 85th Birthday of the former president

Former President Olusegun Obasanjo presenting key of one of the tricycles to Bashir Alli Modu

Some of the 85 empowerment tricycles The OBJ@85 Free Keke Programme will work with beneficiaries to avail them platforms for receiving health, safety and financial advisory. Beneficiaries include men and women in line with encouraging diversity and inclusion, ideals that remain entrenched in President Obasanjo's life philosophy. In addition to generating income

to meet immediate needs, with good planning, beneficiaries can save part of the income for future investments. By facilitating the transportation of goods and people, this little automobile has become an enabler to businesses, both big and small. Its small size is an advantage since it can reach many places with ease. Each of the winners has a robust plan on how to deploy this piece of capital into

It is not the opportunity that matters most; it is the use that you make of the opportunity,” the former president told the beneficiaries

an already existing business or a new one entirely, in anticipation of generating revenue and possibly multiplying it. One of the beneficiaries, Bashir Ali Modu, from Borno State is a 29-year-old final year student of pure and applied chemistry in the University of Maiduguri. “I am excited about this award,” he said at the award-giving ceremony in Abeokuta. “I will use this Keke to make more profit. I will not sell it. I will help people and possibly buy more to boost my Keke business,” said Modu. His plan is in sync with the words of the Nigerian statesman, OBJ, as he has come to be known. Like the Biblical talents, what matters is what a beneficiary does with the Keke. “It is not the opportunity that matters most; it is the use that you make of the opportunity,” the former president told the beneficiaries. Modu said he sees big opportunities for his Keke business back home in Borno State where the government has banned the operation of motorcycles popularly known as Okada. For Kusimo Omotoyosi, a 20-year-old female factory attendant at a water bottling company in Abeokuta, winning the tricycle has opened a new vista for her life. Her emergence as a winner is peculiar in the sense that she won hers at the venue of the ceremony. Kusimo said she will initially drive it and later employ a driver, when she gains admission into a university to study Banking and Finance. "The Keke will reduce her stress from walking," she said. With such plans already being nursed by the recipient, it’s clear that they may be on their way out of poverty, by taking one step at a time.

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T H I S D AY ˾ TUESDAY JUNE 21, 2022

PROPERTY & ENVIRONMENT Lagos, Private Sector to Collaborate on Climate Change Action Bennett Oghifo

he Lagos State Government has said it is poised to implement the Climate Action Plan it launched last year, in collaboration with the private sector. The Climate Change Action Plan is designed to achieve a sustainable low-carbon and climate-resilient socio-economic development. It is a renewed effort to address the ravaging effects of climate change on humanity and the ecosystem generally. The fresh commitment was made last Wednesday at the First Lagos State Climate Change Business Meeting organised by the Ministry of Environment and

Water Resources, and attended by representatives of Dangote Cement, BUA Group, Flour Mills of Nigeria, Oando, Total, Sahara Group, Nestle, MTN, IHS Towers, Microsoft, Rites Food, Ikeja Electric, Mikano, Cummins, Julius Berger, Revolution Plus, and Food and Beverage Recycling Alliance (FBRA), among others. Speaking at the business meeting, which theme was, ‘Integrating Climate Action in Lagos State Development’, Lagos State Commissioner for Environment and Water Resources, Mr. Tunji Bello, said it was an understatement to say that climate change posed serious challenges to the environment, economy and livelihood, hence the need to scale up publicprivate sector collaboration to

mitigate the impact. He noted that the collaboration would be a win-win for all if the Organised Private Sector cooperated with the state government in the implementation of the Climate Action Plan developed as part of efforts to mitigate the negative impact of climate change on the state. “In as much as we are aware of the threat climate change poses to the environment, economy and livelihood, we also need to begin to view climate change from prism of opportunities it presents in the area of job creation, attraction of direct investment, healthcare improvement, waste to energy initiative, sustainable infrastructure development and renewable energy investment,” Bello said.

L-R: General Manager, Lagos State Environmental Protection Agency, Dr. Dolapo Fasawe; Director, Sustainability and Corporate Communications, IHS Towers, Cima Sholotan; Head, Sustainability, Dangote Cement Plc, Dr. Igazeuma Okoroba; Permanent Secretary, Oﬃce of Environmental Services, Lagos State Ministry of the Environment and Water Resources, Dr. Omobolaji Gaji; General Manager, Lagos State Parks and Gardens Agency Adetoun Popoola, and Managing Director, Lagos Waste Management Authority, Ibrahim Odumboni during the First Lagos State Climate Change Business Meeting in Lagos… recently

Salawudeen: Why’s Mortgage in Nigeria Over 11%, Dubai 2% Prof Ahmed Olaniyi Salawudeen, a chartered insurance practitioner and property investment advisor. He is the chairman, Signature Group of Companies. Salawudeen, who has been in business for over 40 years with his company headquartered in Dubai wondered why mortgage is so high in Nigeria at over 11% while it is 2% maximum in Dubai. He discusses this and other issues with journalists on the sideline of the launch of their iconic project in Dubai at a special event in Lagos, recently. Bennett Oghifo reports What’s the bait investors get in Dubai that is missing in Nigeria? In Nigeria you want to give a mortgage, you are asking for 11%/15%. Why? In Dubai it’s 1.9/2%

L-R: COO of Signature Global, Hisham Hashim; President Nigerian-Indonesian Chamber of Commerce & Industry, Mr. Ishmael Balogun; Group CEO Signature Global Realty Ltd, Prof. Ahmad Bin Salaudeen; former Deputy Governor, Lagos State, Otunba Olufemi Pedro; and Sales Director of Sobha Realty Dubai, Alli Ashgar, during a real estate roadshow in Lagos… recently

Give us a background of your company and projects We have been successful in our business. Standard Insurance Company Limited (SICL) came into being on May 30, 1980. In Nigeria, we started with Rural and City Link Property Limited in 2005. We are part of the Sig-

nature Group of Companies. We try to metaphors into other businesses like real estate business. Insurance business is an intermediary business. Real estate business is also an intermediary business. But the difference is that one is invisible while the other is visible. Insurance is an invincible business, whereas real estate business is a business you can see. Signature Real Estate is headquartered in Dubai. Many people will ask, “Why Dubai?” From Dubai, we moved to Nigeria. This is our first time coming to

Nigeria for a road show. Our country Nigeria is a great country. I love Nigeria and looking at it, apart from the political situation, Nigeria is the best country in the world if we get the right people to manage it. Unfortunately, we are not yet there. But we will be there In sha Allau. At the moment our office is at 904 Oxford Tower, Business Bay Dubai. And by God’s grace, by October 1, 2022, Signature Global will be moving to one of the iconic win Tower in Dubai Business Financial District.We welcome you to

come to this place. What are your ties in the UAE? We have partnership with financially secure developers such as Sobha. They are one of the iconic developers, as of today, in the United Arab Emirate (UAE). Therefore our partnership with them has been very remarkable. For Signature, we have made a number of sales in 2021. We have managed many units of property for both local and international places. And we want to make sure that we add Nigeria to the schedule.

From e-commerce to Omnichannel, Consumers Drive Retail’s Digital Transformation in MEA Ola Williams The pandemic left little room for error when it came to adapting to the new normal. For retail this meant e-commerce experienced a renaissance, “omnichannel” received a lot of attention and customer experience was no longer an after-thought but a

necessity. Meanwhile, it’s the customer that lies at the heart of these new trends and will ensure their staying power. Globally, retail is a $25 trillion market with e-commerce accounting for a sizeable $9 trillion. In the Middle East and Africa (MEA), Microsoft retail customers reported that online sales brought

in between two and five percent of revenues before the pandemic. Today, this has reached around 20 percent of top line profits. This is an extraordinary amount of growth that took place in just two years, and according to Mastercard’s Economy 2022 report, this shift is expected to stay.

The Federal government recently said the current ecommerce spending in Nigeria has grown to $13billion per annum and is expected to hit $75billion in revenue per annum by 2025. With an increase of 30%, the Nigerian eCommerce market contributed to the worldwide growth rate of 29% in 2021.

The place of e-commerce in the Nigerian economy is being boosted by gradual transition of informal retailers into the online shopping community. While this move to online shopping is a gamechanger for many retailers, it does not mean this is the end of brickand-mortar stores. In fact, we are seeing omnichannel retail

becoming a key approach for brands as they look to navigate a post-COVID-19 landscape. As lockdowns eased, consumers returned to their favourite stores, but were now more likely to have looked up the desired item online beforehand or research a product while perusing the shelves in person.

ATCO Homes’ CEO Earns Double Economic Contribution Honours

NCF Partners Pernod Ricard Nigeria on Sustainability, Responsibility

Fadekemi Ajakaiye

The Chief Executive Officer (CEO) of ATCO Homes, a top real estate firm with sprawling properties in the Lekki axis of Lagos, Bartholomew Egbochie, has been recognised by two leading media houses for a robust contribution to the nation’s economy in the past two years. Bartholomew Egbochie was announced this week as one of Vanguard newspaper’s most impactful CEOS who contributed to Nigeria’s GDP growth in 2021. The award came on the heel of a similar recognition

by Guardian Newspaper which ranked Egbochie as one of the 50 Most Impactful and Awardwinning CEOs that ensured the economy maintained an appreciable level of productivity with a strong impact on household incomes and investors’ confidence during a lull occasioned by the global health crisis. The criteria for selecting the recipients for the economic contributory honours include robust outputs in the years under review, sustained workforce strength, evidenced delivery of returns for investors, impressive customer satisfaction rate, and consistency

in meeting staff remuneration obligations between the years 2020 and 2021.

Egbochie

In a bid to further the objective of Green Recovery Nigeria (GRN) initiative, a reforestation programme instituted by the Nigerian Conservation Foundation (NCF), the Pernod Ricard Nigeria partners NCF on tree planting across the South-west of Nigeria. As part of its Sustainability & Responsibility (S&R) agenda for the year 2022, Pernod Ricard Nigeria in collaboration with NCF plants 2000 tree seedlings at Old Oyo National Park, Sapateri, Oyo State;

Pan-Atlantic University, IbejuLekki; Omo Forest Reserve, J4, Ogun State; Lagos Business School, Lekki and round it up at Lekki Conservation Centre, Lagos. The role of forests in supporting the energy requirements of mankind is as old as creation itself. Mankind evolved from firewood gathering to large-scale forest despoliation to supply both domestic and international energy demands. The importance of having the forests with us has been highly stressed even now than it was before due to the roles performed in

stabilizing national security, creation of job opportunities, sources of livelihood and the natural health care center for the average rural poor. These opportunities are rapidly being eroded due to threats from competing land uses, unsustainable agriculture practice, over exploitation of our forest reserves (this includes unregulated activities of both timber and charcoal merchants), and poaching. If we as people commit ourselves now to restoring the environment, preserve it for future, proffer solutions and deliberately pay attention to reforestation and restoration

T H I S D AY ˾ TUESDAY, JUNE 21, 2022

BUSINESSWORLD R A T E S MONEY MARKET

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

08056356325

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Amid Record Low Production, Nigeria’s Oil Rigs Count Remains Unchanged in May

Emmanuel Addeh in Abuja For the second month running, the number of active oil rigs in the country remained unchanged in May, amid a record low production of 1.024 million barrels per day (bpd) for the month. Still struggling with production challenges, a THISDAY check showed that the only time in recent history that Nigeria experienced such abysmally low drilling activities was

in the heat of the Niger Delta crisis circa 2016. Latest figures from the Organisation of Petroleum Exporting Countries (OPEC) indicated that like the case in April, the country was able to report 11 oil rigs as active throughout the month. In recent months, the country’s active rigs have progressively decreased, but was made worse after Nigeria began shutting down many of its offshore platforms as

oil prices took a downward slope and the producers’ group embarked on production curbs to stabilise the market in 2020. Historic rig count figures earlier obtained by THISDAY showed that for instance after the OPEC directive for production curbs in April 2020, in the heat of the pandemic, the following month of May, 2020, the country’s producing oil rigs fell from 16 to eight and two months later, in July, it fell further to six.

In January 2021, only six rigs produced while in February, it was seven; in March, it fell to six again, while in April 2021, total rig count was just five. In the oil industry, the rig count is a major index for measuring activities in the upstream sector. Also recently, a THISDAY review showed that Nigeria is producing far less oil than it did 25 years ago when the estimated population was lesser than what it is today

and government spending was far below what it is in 2022. A comparison of the country’s average oil production per day in 1997, as indicated in the NNPC yearly statistical bulletin, showed that while Nigeria pumped 2.344 million barrels per day, plus condensates over two and a half decades ago, this figure was halved last month. Furthermore, while 26 rigs were in operation, on both onshore and offshore terrains, in 1997, Nigeria as

at January this year had just about 12 active oil rigs, with about half of them not in use, and fell to 11 last months. But still in the oil upstream activities for the month, Algeria, another African oil-producing country, increased its rigs by six to hit 34, at six, Angola’s was unchanged, Iraq added two to hit 48 while Saudi Arabia increased Continued on page 27

African Refiners Alert on Impending Impact of Funding Withdrawal for Oil Projects Emmanuel Addeh in Abuja Oil and gas operators under the African Refiners and Distributors Association (ARDA), have said that unless a far-reaching decision on the future funding of major projects in Africa is arrived at soonest, the industry may face serious challenges. The group stated that the impact of Environmental, Social and Governance (ESG) issues on

financing for oil and gas projects has become disruptive, insisting that unless borrowers like Nigeria and other African oil producers quickly adapt, securing necessary funding for the sector may remain very difficult. Executive Secretary of ARDA, Anibor Kragha, speaking on: “Implications of ESG Standards on Global Oil & Gas Project Financing”, at the ARDA Work Group Workshop Series on HSE & Quality, which held virtually, said attracting funding

may become tougher without consideration for emissions reduction, social development and governance. According to Kragha, with the oil and gas sector in a state of transition, forcing closure of traditional sources of capital, especially from the World Bank and other national and international development finance institutions (DFIs), alternatives will have to be found. He noted that the impact of the transition will mean that projects

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N23,000–N25,000

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50KG

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N22,000-N25,000

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N23,500-N25,000

50KG

KWARA N24,000–N27,000

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N17,000–N20,000

seeking funding must account for enhanced health, safety and environment standards with due diligence and reporting requirements. In addition, the expert noted that investors must now demonstrate how their HSE and Corporate Social Responsibility (CSR) practices contribute to return on investment and business performance. He urged professionals, especially in the HSE segment to assist the sector in complying with global

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ESG best practices, particularly in the area of environmental issues. He said: “Covid-19 and the war in Ukraine have more than ever highlighted the need for refining of petroleum products in Africa. We can’t expand our capacity without finance. For us to get sustainable finance we must prioritize HSE.” Kragha insisted that operational excellence remained critical to success in downstream oil industry, leading to productivity, risk and

cost. Also speaking at the event, Executive Chairman of Energy & Natural Resource Security, Inc. (ENRS), Derek Campbell, said Nigeria and other countries have more to worry about on the security of energy infrastructure. In his remarks on: “Energy Security: The Protection of Critical Energy Infrastructure and Natural Continued on page 26

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N730,000 – N750,000

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N720,000 – N740,000

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N8,500

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N8,500

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N23,000

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N17,000

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CROSS RIVER

N700,000 – N720,000

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N23,000

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N730,000 — N755,000

TUESDAY, JUNE 21, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

ENSURING PORT EFFICIENCY…

R-L: Executive Director Marine&Operations Nigerian Ports Authority (NPA), Hon. Onari Brown; Executive Director Finance & Admin, Ms. Adenrele Susanna Adesina; MD Nigerian Railway Corporation, Fidet Okhiria; Minister of State for Transportation, Senator Gbemisola Saraki and the Port Manager, Lagos Port Complex, Mrs Funmilayo Olotu, during the Ministerial Tour of Lagos Ports… recently

Wreck Removal: NIMASA to Conduct Post Impact Assessment on Badagry Creek The Nigerian Maritime Administration and Safety Agency (NIMASA) has commenced preparatory works to deploy high-resolution magnetometer to validate the on going wreck removal exercise of all identified wrecks listed for removal along the Badagry Creek in Lagos. Director General of NIMASA, Dr Bashir Jamoh who disclosed this during a review session of the ongoing wreck removal exercise by the agency stated that the impact of the entire exercise on the marine environment is being assessed by the agency. According to him, “We shall also conduct a full bottom sweeping operation by deploying sonar imagery system with a view to establishing any existing natural or artificial obstacles lying on the seabed within the area of survey for this phase of the wreck removal exercise. NIMASA is also taking into consideration, the impact of the entire operations on the marine environment with a

view to ensuring safety of marine lives. We are monitoring the entire exercise closely to guarantee total removal of all identified wrecks. “Amongst those already removed include a completely submerged Barge, which was lying over 10 meters deep along the Badagry channel on coordinates 711006.1

Easting and 535294.9 Northing. The Agency has also successfully removed two other completely submerged barges beneath the water at 530924.9 Northing and 710608.3 Easting. Another completely submerged Barge, which has been lying dangerously along the channels on 711617.5 Easting

and 533601.6 Northing has also been successfully removed and taken to the dumpsite located in Kirikiri Lagos. These are amongst the identified wrecks removed along the creek from Tin-Can Island to Navy Town.” NIMASA, he added, worked with the Hydrography Department of

the Nigerian Navy to identify the wrecks. “We worked closely with the Hydrography Unit of the Nigerian Navy in charting the waters and establishing these wrecks as critical for immediate removal. Some are completely submerged while others are partially submerged. This

Badagry creek is a commercial route with passenger vessels plying and we place a premium on safety of lives and properties. We are confident that on completion, operations of the Navy in patrolling our waters will also be enhanced as the routes will be free of wrecks”. He said.

All Eyes on OPEC+ as Output Cuts Expire in August Emmanuel Addeh in Abuja with agency report All eyes are now on the Organisation of Petroleum Exporting Countries (OPEC) as the production cuts it embarked upon in 2020 is set to expire in August, amid pressure from the United States to ramp up supply. By then the full quantity would have been rolled back and delegates from the 23-nation OPEC+ coalition say they

are now grappling with what comes next. President Joe Biden is likely during his visit to Saudi Arabia, OPEC’s de facto leader in July, press on the oil producer to move beyond their August production levels and announce further increases to help cool oil prices that are above $110 a barrel, Bloomberg reported. Saudi Arabia has been walking a fine line between heeding the requests from its long-time but somewhat

and the UAE will have roughly another 2.2 million daily barrels of unused output to deploy, data from the International Energy Agency in Paris show. That’s about 2 per cent of global supply, and with soaring prices threatening to tip the global economy into recession, plus sanctions on OPEC+ member Russia stoking further turmoil, consumers will welcome any relief they can get. “There might be some Saudi nod in the direction of releas-

estranged American ally, and the joint architect of the alliance that rescued oil prices from their worst slump in history - Russia. In theory, the accelerated timetable for OPEC+ increases adds up to 648,000 barrels a day in each of those months. But the figure is largely symbolic, with most members of the group unable to increase production further. Once they reach the targets specified for August by the current agreement, the Saudis

ing more oil, but there’s the realisation that there’s a limit now to what they can do,” said Bill Farren-Price, a director at Enverus Intelligence Research. However, THISDAY can report that the decision to extend or halt the micromanagement of supply may no longer be under the headship of Nigeria’s Sanusi Barkindo, who is expected to step down from the position at the end of July, having spent tow terms.

FG Inaugurates 33-Kilometre Road Linking Jigawa-Yobe States Emmanuel Addeh in Abuja

Group Business Editor Eromosele Abiodun Deputy Business Editor Chinedu Eze Comms/e-Business Editor Emma Okonji Asst. Editor, Money Market Nume Ekeghe Senior Correspondent Raheem Akingbolu (Advertising) Correspondents Emmanuel Addeh (Energy) KayodeTokede(CapitalMarkets) James Emejo (Finance) Ebere Nwoji (Insurance) Reporters Nosa Alekhuogie (ICT) Peter Uzoho (Energy) Ugo Aliogo (Development)

The federal government at the weekend inaugurated the completed phase 2 (Kirikasama-Nguru) of the Hadejia- Nguru-Gashua road linking Jigawa and Yobe States. The commissioning of the completed section took place in Birniwa town, Birniwa local government headquarters

in Jigawa State and was performed by the Minister of Water Resources, Suleiman Adamu. He expressed the determination of government to improve the ease of doing business, create jobs, wealth and prosperity in order to lift citizens from poverty He described the over 33-kilometre road, as a very

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Resource Assets,” Campbell decried persistent vandalism of infrastructure in the Niger Delta. He stated that cases of security attacks, including drone attacks on oil facilities in Saudi Arabia, the METCALF Power Station sniper attack as well as the ransomware attack on Sonangol in 2019 cost the sector huge loses, noting that there was lack of “domain awareness”

PRICE

25CL LAGOS N20,000-N25000 25CL

in the sector. According to him, the energy must now prioritise physical and cyber risk mitigation solutions for critical energy infrastructure and natural resource assets. Campbell pointed out that Energy Security Risk & Resiliency Assessments (ESRRAs) should emerge as a practice that countries must now prioritise to

N21,000 – 24,000

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25CL

IMO

N21,000–N24,500

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N17,000–N20,000 N19500- N25000

avert growing dangers to critical energy infrastructure. Also speaking, Offering Manager for Honeywell UOP’s thermal oxidizers business, Janet Ruettiger, stated that new technology will help the refining sector achieve emission specifications more efficiently and more economically with less environmental impact. Ruettiger said organisations

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N5,000

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N18,000

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of the road. “Now that we have this new and well-built road, we owe it as a duty to ourselves and to other road users to protect these facilities. One of those duties is to ensure that we drive in accordance with the law as stipulated in the Road Highway Code, “ he said. In his remarks, the Minister of Works and Housing, Baba-

tunde Raji Fashola, said that the road project was among the other projects lined up for commissioning in the second phase of projects inauguration. The minister who was represented by the Zonal Director Highway (Construction & Rehabilitation) North West, Wasiu Taiwo, said the projects represent major investment in road transport infrastructure.

AFRICAN REFINERS ALERT ON IMPENDING IMPACT OF FUNDING WITHDRAWAL FOR OIL PROJECTS

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important road that connects agrarian and trading communities, which to a large extent will ease the movement of their farm produce . According to him, the road has become a critical component of national road network for linking communities together, pointing out that the travel time has now reduced with the completion

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could rethink the way waste management is approached across refineries, stressing that it enables waste management to be integrated with the design of the process units. With refining, storage and supply deficits, experts say over $15.7 billion is needed to upgrade the existing refineries on the African continent alone to produce cleaner,

AFRI-6 fuels fuels. In addition, over $160 billion projects are said to be currently under funding threat in Nigeria’s upstream oil sector amid a recent disclosure by the Organisation of Petroleum Exporting Countries (OPEC) that oil nations might find it difficult to raise over $12.6 trillion needed for oil and gas investment before 2045.

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ONIONS

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N25,000

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N10,000

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N27,000

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N12,000

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N21,000

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N25,000

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N15,000

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T H I S D AY ˾ TUESDAY, JUNE 21, 2022

BUSINESSWORLD

INDUSTRY

Opportunity Cost of Nigeria’s Trade, Industrial Protectionist Policies The World Bank in its latest report on Nigeria Development Update argued that the country’s protectionist trade policy is counterproductive, writes Dike Onwuamaeze

igeria’s trade protectionist policy, ostensibly conceived to protect Nigerian local manufacturing industry, is counterproductive. This is the verdict of the World Bank in its latest report titled, “Nigeria Development Update June 2022.” The report said that Nigeria’s trade policy is costing the country more public revenue and pushing its citizens into poverty. The World Bank report made some bold and unequivocal assertions. One, the country’s trade policy since the inception of President Muhammadu Buhari’s administration in 2015 has been remarkably moving further in a protectionist direction and yielding several unintended consequences, including high levels of tariff evasion accounting for the loss of $1.8 billion annually in public revenue. This is estimated to be 0.4 percent of GDP. The report also asserted that the country’s increasing trade protectionist stance is constraining the efficiency and competitiveness of its domestic firms. The third assertion made in the report is that import restrictions are pushing millions of Nigerians into poverty as “distortionary trade policies can decrease overall purchasing power and, in turn, increase poverty.”

UNPREDICTABLE TRADE POLICIES

The report further asserted that Nigeria’s restrictive and unpredictable trade policies are increasing smuggling, diminish revenues, hurt consumers, and raise production costs. It added that Nigeria’s weak trade performance in recent years has been exacerbated by its highly restrictive trade regime. Moreover, import restrictions are pushing millions of Nigerians into poverty, encourage smuggling and reduce revenues. The report said that fully liberalised trade would increase household income; and called for trade policy reforms that could reduce production costs for firms while preserving revenues. It argued that higher production costs in turn make it difficult for Nigerian firms to compete against producers based in countries that levy lower tariffs on inputs. It also pointed out that increasing and diversifying exports and FDI is central to advancing Nigeria’s industrialisation and development objectives. The World Bank said that Nigeria’s “government could reform its tariffs to reduce production costs, while still preserving fiscal revenue.” It averred that, “full liberalisation of trade will increase household income on average by 3.8 percent and reduce the share of people living in poverty by 2.3 percentage points. “This is because liberalising trade will lower prices, and the resulting gains in purchasing power would outweigh any income losses for households producing the goods that end up being cheaper.” The report also said that trade policy reforms could reduce production costs for firms while preserving revenues. In addition, Part Three, Spotlight One of the World Bank’s NDU report captioned “The Unintended Consequences of Nigeria’s Trade Policies” affirmed that trade and investment have been key drivers of global growth and poverty reduction over the past 30 years for countries that embraced trade liberalisation.

INCREASED PARTICIPATION

It also added that increased participation of firms from developing countries in regional and global value chains has contributed significantly to job and wealth creation. However, the World Bank noted that Nigeria is being denied these benefits due to the prevalence of trade restrictive policies and widespread skepticism, which cast doubts about the benefits of export-led growth and increased integration. The effect of this widespread skepticism, according to the bank, is that the long-standing policy aim of respective Nigeria’s governments to achieve economic diversification have largely remained unsuccessful and foreign direct investment has not reached its potential and has been in fact declining in recent years. According to the report, “Nigeria’s trade policy has moved in a heavily protectionist direction, with an escalation of import restrictions through higher tariffs and levies, import bans, foreign exchange

limitations, and border closures. Although these measures were intended to support the country’s industrialisation and security goals, they have had numerous unintended consequences. For one, import restrictions result in high levels of tariff evasion, and thus a loss in revenue estimated at 0.4 percent of GDP, or $1.8 billion annually. “Secondly, these policies also adversely affect poverty by raising consumer prices. Finally, they inhibit the efficiency of domestic firms by raising the cost of their production inputs, thereby constraining their competitiveness and limiting their potential to export to regional and global markets.” The World Bank, therefore, highlighted the urgent need for a change in Nigeria’s trade policy and approach that would focus on reviewing trade policy to safeguard revenues, reduce poverty and support domestic firms; and reducing domestic and international trade and transport costs. The bank also harped on the need to realign Nigeria’s trade orientation toward the creation of appropriate policy and institutional infrastructure that would support Nigeria’s trade and industrialisation priorities.

EXPORT PERFORMANCE

It said: “This spotlight provides an overview of Nigeria’s recent export performance and focuses on some of its key underlying features. It also examines the role of import restrictions that shield some incumbents from competition while hurting consumers and most firms, and constraining government revenues. These policies have been central to the country’s limited success in diversifying the economy and furthering the growth of the manufacturing sector. Nigeria has ample room to harness the development potential of increased trade and investment. “This is especially apparent when considering five dimensions of Nigeria’s recent trade performance: Nigeria remains one of the world’s least diversified countries. Although experiences differ globally, countries that achieved greater diversification over the past decades grew more quickly and had more consistent growth overall. “In Nigeria, however, most exports are concentrated in oil, while remaining exports are mostly basic agricultural goods that add little value. “Nigeria exports relatively little to the rest of Africa, as oil exports are primarily directed outside the continent. Nigeria’s formal intraregional exports make up less than 10 percent of its total exports, while almost one quarter of South Africa’s exports go to the African region. “Nigeria’s share of intraregional trade within ECOWAS has also remained low—approximately

two to four per cent of Nigeria’s total recorded exports between 2019 and 2021. However, the ECOWAS region accounts for a far greater share of Nigeria’s non-oil exports—close to 10 percent in recent years. This shows the potential for Nigerian industries from greater continental integration, for example through the African Continental Free Trade Area, if the productivity of exporting firms can be strengthened and trade costs reduced.”

NIGERIA’S EXPERIENCE

The report referred to a recent International Monetary Fund (IMF) analysis in 2021 that contrasted Nigeria’s experience with that of three Asian countries, namely Indonesia, India and Malaysia that had a similar focus on import substitution during the second half of the 20th century but were able to diversify. All these three countries, said the report, trailed Nigeria in GDP per capita in 1980 but now far exceed it. Key drivers of change in these three countries included: economic crises that created a window of opportunity for reform, which entailed a focus on education and knowledge accumulation; and the gradual reduction of trade and investment barriers. The World Bank report noted that Nigeria’s share of the FDI, especially in extractives, has been declining both as a share of GDP and relative to comparator countries. FDI, which goes hand-in-hand with trade, is a critical ingredient to economic growth, contributing to increased productivity, innovation, and technology transfer. FDI supports the diversification of the economy and helps domestic firms export more. “Nigeria’s FDI inflows as a share of GDP have dropped from over 2.0 per cent a decade ago to less than 1.0 per cent in recent years. But some comparator countries, such as Ghana, have consistently seen FDI inflows in excess of 6.0 per cent of GDP. “The decline in FDI in Nigeria has been driven by the weak performance of the mining and oil and gas sectors. The services sector, on the other hand, has attracted the largest share of Nigeria’s FDI, potentially indicating greater diversification away from extractives. Between 2009 and 2019, FDI in services made up 50.3 per cent of all inflows, followed by manufacturing sector’s 28.4 per cent and extractive ibdustries 21 per cent,” the report said.

FINDING THE RIGHT BALANCE:

The bank emphasised that industrial and trade policy could contribute to Nigeria’s

development aims. It said that increased openness to trade could help Nigeria achieve longstanding policy goals of economic diversification and industrial development. This is important as Nigeria is embarking on an ambitious course towards greater integration and policy reform. This is most evident through its active participation in African Continental Free Trade Area (AfCFTA) negotiations and its efforts to develop a domestic implementation plan. But the AfCFTA’s implementation would require substantial preparation and engagement across the federal and state governments, the private sector and other stakeholders, but holds significant potential for the country to use regional integration in support of private sector-led growth. “Nigeria has also developed a new National Investment Policy and is preparing a new Trade Strategy. Moreover, at the sub-national level, state governments across the country are implementing ambitious business environment reforms. “Further continental integration can help enhance the competitiveness of Nigeria’s manufacturing sector. By making manufacturing more competitive, Nigeria could leverage regional market integration to achieve economies of scale, lower costs, and increase its broader international competitiveness. “Regional value chains can, in turn, offer a stepping stone toward global value chains. Increased competitiveness from regional integration can lead to greater diversification of export products and markets and incentivise domestic producers to compete with foreign firms. The vibrant entrepreneurial ecosystem in Nigeria would benefit from being connected to technological and process innovations, know-how, diaspora mentorship, research and development. This could include supporting existing networks of research and development institutions to foster innovation,” the report said. It added that “trade offers a vital, but often untapped pathway to poverty reduction. Through its effects on investment, technology transfer, and competition, trade can help growth—boosting job creation, increasing domestic value added, and reducing the price of goods that Nigerians buy. All such effects may contribute to reducing poverty. “Yet, the benefits from trade are not automatic. There is a need for careful sequencing, broad consultation, and finding a way to maximise the gains from trade while taking proactive measures to support the adjustment process. “This includes understanding how to facilitate labor mobility, as well as the importance of complementary policies such as business environment reforms and supporting skills development. The following policy options provide an overview of the way forward.”

AMID RECORD LOW PRODUCTION, NIGERIA’S OIL RIGS COUNT REMAINS UNCHANGED IN MAY its own rigs by eight to sustain its leadership at 78 rigs. For non-OPEC countries, the United States had 719 oil rigs in May, a hike of 25 rigs while Canada and Mexico had 93 and 43 active rigs respectively. In all, with the latest figure released by the OPEC, it means that Nigeria’s underperformance was as high as 700,000 barrels per day for the month, although the cartel’s total allocation to Nigeria exceeded 1.75 million bpd for the May. The 1.024 million bpd production was about 195,000 bpd less produc-

tion when compared with April’s total of 1.219 million bpd. Despite assurances by the various government agencies, what the OPEC figures imply is that rather than improve, the country’s oil production has actually deteriorated in the past months. Fingering massive theft as one of the reasons for its inability to meet its quota, the federal government had also months ago, deployed heavy military presence in the Niger Delta to curb the menace. But the OPEC data has now confirmed that the action has not

made any difference, as nothing appears to have changed since the rejigging of the security arrangement in the region. There seems to be no respite in sight with the current waning investment as rich countries and renewables-minded investors continue to pile pressure on multinational oil companies to stop the funding new oil activities abroad. For years, Africa’s biggest oil producer, has not markedly expanded its capacity despite promises that “we are doing everything” to ramp up production.

With over 37 billion barrels of crude oil in reserves and roughly 2 per cent annual production as well as an estimated 50-year total life, if there are no new discoveries, Nigeria remains one of the most significant oil producers globally at 15th position. Of the 1,735 rigs existing count globally, according to OPEC, 1,379 are oil, 328 are for gas while 28 are classified as others. OPEC has 13 members of which at least two are not currently being rated due to political problems in their countries. Generally, in the oil industry,

higher oil prices, like what currently obtains, mean higher rig counts, which also mean higher production. In the opposite direction, lower prices mean less rigs and falling production. However, Nigeria currently lacks capacity to ramp up production. Aside the positive correlation between number of rigs and oil production, there are also many jobs attached to rigs when they are operational, meaning less rigs, less jobs in the oil sector. A recent document released by the upstream commission showed that although Nigeria’s rigs could

be as many as 53, less than 20 per cent of that number has been near active in the last few months, while 25 are on standby and 16 have been “stacked” (may or may not be operable). In terms of terrain, of the 53 rigs, 33 are onshore, 11 are offshore while nine are found in the swamps. With big oil companies planning to embrace renewables, the challenge of getting the needed investment in a country like Nigeria which is rated low on its business friendliness may become even more difficult coming years, THISDAY recently reported.

TUESDAY, JUNE 21, 2022 ˾ T H I S D AY

BUSINESSWORLD

ANALYSIS

Championing Due Process,Value Optimisation in Upstream Oil Sector In consonance with the provisions of the Petroleum Industry Act 2021, the Nigerian Upstream Petroleum Regulatory Commission is engendering adherence to due process and transparency in its processes, writes Peter Uzoho

ne of the pressing tasks before the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), created by the Petroleum Industry Act (PIA 2021) in place of the defunct Department of Petroleum Resources (DPR), is the closing out on the 2020 marginal oilfield award process. This has placed the regulator in a somewhat precarious position, as it has to contend with several interests involved in the award of the assets including the interests of the government, the awardees, the Nigerian public as well as other competing vested interests. In the past, there have been cases where the regulator was either alleged to have given approvals without recourse to extant rules and laws guiding the sector to the dissatisfaction of some parties and eventually landing in law courts. There were also instances were the regulator was blackmailed and pressured to give approvals when it refused to act in violation of the law. With the foregoing in mind, however, NUPRC, which is yet to clock one year of operation, has insisted on ensuring strict adherence to the rules guiding approvals and issuance of licenses in the upstream sector. The commission believes that optimising the value of the Nigerian oil resources can only be achieved when it does its work diligently and in line with the rule of law that guarantees increased competition, opportunities and value creation.

RIOT ACT TO BRIEFCASE INVESTORS

The commission’s Chief Executive Officer, Mr. Gbenga Komolafe, had in a recent session, warned that no marginal field operator would be allowed to “trade” in papers issued by the organisation. It is no longer news that several fraudulent elements parading themselves as oil and gas investors had in the past deceived or blackmailed the regulator to issue them approval papers which they later used to access funds without carrying out the project they presented. In March, oil workers under the aegis of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) called on President Muhammadu Buhari, who is the country’s Minister of Petroleum to take steps to check the presence and activities of portfolio and briefcase investors in the oil and gas sector whose sole aim it claimed was to milk the country without adding value. In a statement jointly signed by its President, Festus Osifo and the General Secretary, Lumumba Okugbawa, the association stated that it would not fold its arms and allow mediocre persons to take hold of national assets and ruin the fortunes of future generations for immediate gains. Displaying good knowledge of such malfeasance in the sector, Komolafe stood his ground in ensuring that due process was followed in every of the commission’s dealings, especially as it concerns the award of the 57 marginal field. Although some companies which are unable to meet up with the requirements for award of the marginal fields have been running campaigns

against the commission to force it to give its approvals to them, the regulator has maintained its position that approval papers would only be given to those that merit it. Komolafe expounded the need for the regulator to ensure that law and due process were followed in the award of licences to operators, stating that under his leadership, no marginal field operator would be allowed to “trade” in papers issued by the organisation. He stated that the rule of law would be strictly followed in the issuance of final licences to the winners, saying that no amount of pressure would make the commission award final documents without due process. Stating that the NUPRC “won’t be arbitrary”, Komolafe stressed that some of the 119 companies that had fully paid their bonuses were insisting that they could not raise funds without collecting the licences. He said: “In many cases, the moment people get a letter of award, they write to say they want to assign. Assign what? There’s a phrase in law, frequently rendered in Latin: ‘Nemo dat quod non habet’. “It means ‘You can’t give what you don’t have’. For you to get an award, you have to show the proof that you can pay the signature bonus and you can finance the field development. “You get it only because you’ve met the requirements. Your award would have been consummated before you can talk of assignment. We shouldn’t be encouraging people making money by trading papers. “It is better you have a regulator that abides by the rule of law than to have a genius as a regulator. If you have a judge in court and he decides to rule on the basis of his ingenuity, then, it becomes a ground for appeal.” Komolafe further said: “If you have such a judge, he is a problem judge; he would be abusing discretion. I am going to ensure that our rules and processes give effect to the law. Awards of acreages will be carried out on the basis of fairness, transparency and competitiveness.” He insisted that until the process was completed, no licences would be issued, stating that all decisions would be taken based on strict adherence to the rules. Assuring the impartiality of the commission under his watch, Komolafe stated that “Anyone whose licence is revoked during my tenure will not have a space to challenge, adding that “We will take a decision such that everyone challenging it will be standing on very weak ground” According to him: “Now, some of the 119 companies, who have fully paid their bonuses, have formed the required Special Purpose Vehicles (SPVs) to operate the assets. “They are asking for their licences, without which, some say, they are neither able to raise the funds for their work programmes, nor start

working relationship discussions with the oil majors, who operate the leases from which the marginal fields were ring fenced.” On the revocation of Addax Petroleum’s license, Komolafe explained that: “If you were granted an award, it is guided by the law of contract. If you don’t meet the terms, the award reverts to the original owner. It is now the obligation of the Nigerian National Petroleum Company (NNPC) to find a viable partner to operate the asset.”

GAS FLARE COMMERCIALISATION BID ROUND

Another programme which the commission is also saddled with is the National Gas Flare Commercialisation Programme (NGFCP). In February 2020, the federal government, had identified 45 out of 178 gas flaring sites to be awarded to successful bidders among the 200 bidders at the time, in the first phase of the programme. The NGFCP was launched in December 2016 by the then Minister of State for Petroleum Resources, Dr. Ibe Kachukwu, to offer gas for sale by the federal government through a transparent and competitive bidding process, with a structure devised to provide project bankability for the flare gas buyers. The government through the Programme Manager, NGFCP, Mr. Justice Derefaka, had disclosed that the programme would save the country some $800 million losses it suffers annually due to gas flare. He had put the volume of gas flared in the country at over 700 to 800 million cubic feet of gas per day, adding that Nigeria flared about 289 billion standard cubic feet of gas annually. The programme was aimed at commercialising and monetising the nation’s huge gas resources that is being flared on daily basis and also part of the government’s move to achieve environmental safety by achieving gas flare-out. Although not much has been heard about the update of the programme, Komolafe assured that the process would be wrapped up before the end of the second quarter of 2022. Just like in the marginal field award, he said the commission would ensure fairness, transparency and competitiveness in awarding the flare sites to bidders. According to him, “In finalising the round, we will ensure fairness, transparency and competitiveness. We are going to ensure very effective regulation that will give effect to the finest spirit of competition.”

POST PIA REGULATIONS

As part of efforts to increase stakeholders’ understanding and adherence to the Act, the commission is currently in the process of developing regulations for the activation of the PIA in order to give the law effect by regulations. The Commission’s CEO stated: “There will be public hearings of the regulator, just as you have public hearings for the law making, you

must also have public hearings for the regulations of the law. You must have the stakeholders’ hearings.” He, however, explained that the PIA provided robustly for abandonment, host community and award of acreages, arguing that it could not be given effect until the entire process was consummated. Komolafe said he had all that was needed to tackle the challenges, adding, “I came with a revolutionary mind-set. I am a unique person in the industry, going by my background. I intend to do things differently in terms of adhering to processes.”

TACKLING FUNDING CHALLENGE

Also, in response to the funding challenge in the oil and gas industry, exacerbated by energy transition, NURPC is currently collaborating with indigenous operators on the platform of Independent Petroleum Producers Group (IPPG) to look at alternative ways of getting funds to accelerate hydrocarbon exploration and production in the country. In one of his engagement’s with members of IPPG in Lagos, Komolafe, who said he understood the challenges faced by the indigenous operators, noted that the industry generally, was facing a critical challenge including access to finance. He warned that the energy transition campaign would impact financing in oil and gas industry negatively, hence the need for the commission and the indigenous operators to think outside the box on funding. He, however, said despite the energy transition threats, Nigeria would not abandon its God-given hydrocarbon resources, urging the IPPG to work with the commission to pursue international financing groups that would commit to funding critical upstream projects in the industry. Komolafe said: “We will not abandon hydrocarbon- our God-given resources, because of energy transition. “We really need to think out of the box. And as you depart, I want us to come back to the table, let us see how we can actually get, maybe, international financing group to commit to financing critical projects in our upstream. “So, I want us to look at this. Because I understand that financing is a critical issue posed by the energy transition. But I know that if we sit down and think together, we will overcome.” He stressed that the PIA has not only made the commission a conventional technical regulator, but now a commercial regulator and business enabler. Komolafe promised that the commission would operate with a different regulatory culture as prescribed by the PIA, reiterating that the law has made the commission both a technical and commercial regulator. In that wise, he said the commission would equally be concerned about how it facilitates financing for members of IPPG. He maintained that ideas coming out of such collaboration could lead to getting finance that would empower the indigenous firms to be able to leverage the divestment of the international oil companies (IOCs) and enhance their capacity in the onshore and shallow water operations.

Agriculture Devt: Mastercard Foundation, IITA Targets Increased Youth Participation Gilbert Ekugbe Expressing concerns over the ageing farming population, Mastercard Foundation and the International Institute of Tropical Agriculture (IITA) have announced plans to increase youth participation in the agricultural sector. The move according to both organisations is aimed at addressing all the bottlenecks hindering active youth participation in the nation’s agriculture industry. The Country Head, Nigeria, Mastercard Foundation, Chidinma Lawanson, at the Agribusiness investors network organised by the Innovative Youth in Agriculture (I-Youth), said the foundation has identified agriculture, creative and digital sectors to achieve the feat.

“Agriculture is at the core of what we do, but for the other countries, their main focus is agriculture. We work with strategic partners to carry out strategies. Agriculture is a strong focus for us in Nigeria because it leads to the federal government’s implementation strategies in the medium and long term approach and it ensures that we have food security and a space that can create employment opportunities for the teeming unemployed youths,” she added. She stated that the challenge of agriculture for the youths is that they only think in terms of drudgery, saying that they are automatically attracted to the creative sector and not automatically attracted to agriculture. She however stated that the foundation has plans to

create at least 30 million work opportunities for 30 million young Africans by 2030. “Come 2030, we want to create at least 30 million work opportunities for 30 million young Africans. We have already started to implement this in seven countries. We are in Kenya, Uganda, Rwanda, Ethiopia, Ghana, Senegal and Nigeria. We started in 2029 in Nigeria to say how do we become a part of this strategy. Out of this 30 million, the KPS for Nigeria is 10 million,” she said. According to her: “Youth employment is very key for us because Africa has vast population and we can harness their capacities to create that employment or entrepreneurship opportunities. In Nigeria we have identified three sectors that we should

play in. 70 per cent of our work is in agriculture, so we have to create seven million work opportunities by 2030, 20 per cent in the creative industry and 10 per cent in the digital economy space.” “For the 30 million work opportunities, we are targeting 70 per cent of women. There are women who drop off due to child birth, they do not go up the ladder in the entrepreneurship world and there are so many cultural and religious barriers that stops them from being their best and removing them from the shackles of poverty,” she said. Earlier, the Deputy Director General, Corporate Services, International Institute of Tropical Agriculture (IITA), Ms. Hilde Koper, said for the last 10 years in IITA, they have put a lot of efforts in

trying to make innovations and technologies available to the market. “We have also put a lot of efforts in attracting youths back into agriculture. We want to commend the Mastercard Foundation for the role they played by funding a project for young Nigerians to get access to agribusiness training,” she said. She said IITA sees young agripreneurs as the future for agriculture development in Nigeria. “As a research institute, we cannot do the scaling all by ourselves. We need the private sectors and other actors to come in and that is why we are here. Young agripreneurs have the training, knowledge, skills, drive and energy, but often do not have the necessary funding to start

agribusinesses. Young people can do a lot, but they need help in investing in their ideas and set up agribusinesses,” she said. She added that investing in agriculture in this proven times is crucial, saying that it is important to understand the impact of food imports on African economy, climate change and welfare. She stated that the Covid 19 and the current RussiaUkraine conflict have shown the importance to have the agricultural sector locally developed and the disadvantage of relying on food imports. She pointed out that in today’s world and the not so easy future, she said IITA is the future of Nigeria using its vast land, young population

T H I S D AY ˾ TUESDAY, JUNE 21, 2022

BUSINESSWORLD

NEWS

L-R: Managing Director TotalEnergies Marketing Nigeria Plc, Samba Seye; Chairman Managing Director TotalEnergies Marketing Nigeria Plc, Mr. Jean-Phillipe Torres; Company Secretary TotalEnergies Marketing Nigeria Plc, Mrs.Olubunmi Popoola-Mordi, FCIS; Non Executive Director TotalEnergies Marketing Nigeria Plc, Prince (Dr.) Jeff Nnamani during PHOTO: SUNDAY ADIGUN the TotalEnergies Marketing Nigeria Plc Annual General Meeting (AGM) 2022. Lagos… yesterday

FG Reaffirms NPA’s Position on Tincan F I T C L a u n c h e s Island Port Quay Reconstruction B a n k i n g S u r v e y Eromosele Abiodun The Honourable Minister of State for Transportation, Senator Gbemisola Saraki has reaffirmed the position of the Nigerian Ports Authority (NPA) for the total reconstruction of Quay walls of the TinCan Island Port Complex, which have become weak due to age. Speaking during her tour of the Lagos Port Complexes yesterday, the Minister stressed the need to modernize the ports to meet global standards. According to her, “We cannot build on a weak foundation, it is vital that we get these two very important ports modernized and ready to berth modern vessels. The state of the Ports shows decades of neglect but it’s better late than never.” The minister’s position is very

much in harmony with that of the Managing Director of the NPA, Mohammed Bello Koko who had allayed fears of the imminent collapse of the TinCan Island Island Port Complex. He said the Authority is already at conclusive stages concluding funding options, which includes talks with competent multilateral funding institutions and the possibility of the NPA using a percentage of the revenue or transfers to CRF to fund the reconstruction. Koko had on several interactions with the media drawn attention to the fact that although the NPA had over the years been undertaking remedial works on the quays, “the time has come for a wholistic reconstruction and the Authority is working with the Federal Ministry of Transportation on the

most prudent funding option.” Bello Koko said, “We are on the verge of concluding discussions with multilateral funding agencies to fund the reconstruction. The other option is to go to the government to request that the NPA be allowed to use a certain percentage of its revenue, which is transferred to the consolidated revenue fund on yearly basis to fund the reconstruction. “We transfer about N60 billion a year and we can use about 50 per cent of that to repair Tin-Can. Another option is to do hybrid funding where NPA funds part and multilateral agencies fund the res.” He said the final option is for the terminal operators to fund the reconstruction but the issue is that not all the terminal operators have the same financial capacity or will be able to source funds

at the same time. To him, the NPA does not want a haphazard reconstruction, “because starting Terminal A without Funding for reconstruction of terminal B may affect the safety and integrity of the berths neighbouring berth, adding that the process will be properly coordinated working with the Federal Ministry of Transportation to make a decision that would be taken at the right time and properly.” “Cognizant of the urgency of the situation on ground we might soon be seeking for Federal Executive Council for approvals. We have started working on securing a wholistic interim and conceptual design for the port, and we will eventually get the final design on move unto the Procurement process, ”he added.

WFP Conference to Combat Looming Global Food Crisis Gilbert Ekugbe The UN World Food Programme in partnership with the German, Norway, Niger and Lebanese governments have initiated a Global Alliance for Food Security (GAFS) to address the looming global food crisis. In an online press briefing yesterday, the coalition stated the need for a coordinated and strong international response to the looming global food crisis.

Indeed, the world is witnessing an unprecedented food crisis caused by the convergence of COVID-19, conflict, rising costs, the climate crisis, and now the ripple effect of the conflict in Ukraine. There is an urgent need to respond not only to immediate humanitarian needs but also to invest in longer term solutions that will prevent the next crisis. The event was attended by the WFP Assistant Executive Director for Partnerships

and Advocacy Ute Klamert; Federal Minister for Economic Cooperation and Development of Germany, Her Excellency Svenja Schulze; Minister of International Development of Norway; Her Excellency Anne Beathe Tvinnereim; Minister of Humanitarian Action and Disaster Management of Niger, His Excellency Laouan Magagi and Minister of Economy and Trade of Lebanon His Excellency Amin Salam. The GAFS is expected to bring together key donor

countries and the most vulnerable and most affected countries, with key stakeholders from the United Nations system, philanthropists and civil society. The United Nations World Food Programme is the world’s largest humanitarian organisation, saving lives in emergencies and using food assistance to build a pathway to peace, stability and prosperity for people recovering from conflict, disasters and the impact of climate change.

Eterna Plans Expansion into Aviation Fuel, LPG Marketing Peter Uzoho Nigerian downstream oil and gas company, Eterna Plc, has rolled out its future plans which include expanding its retail footprints to the marketing of Aviation Turbine Kerosene (ATK) otherwise known as aviation fuel, and Liquefied Petroleum Gas (LPG) popularly called cooking gas. The Chairman of the company, Dr Gabriel Ogbechie, disclosed this in Lagos in his chairman’s statement during Eterna’s 2022 annual general meeting (AGM). Ogbeche added that the company would continue to grow its retail footprints and add to the number of its retail

outlets in the country, which stood at 61 as at December 2021. He said while continuing the trajectory of the company’s five-year strategic plan, the marketing firm has attracted investment interests, explaining that in the fourth quarter of 2021, a new investor, Preline Limited, acquired 60.98 per cent stake in Eterna, making it the largest and majority shareholder. He maintained that with the addition of the new investor, the prospects had continued to look up for Eterna, considering the track record, resolute commitment to shareholder value addition and the industry experience

the new investor brings. According to him, the investment demonstrates the belief in the potential of the company. Ogbechie stated: “We will begin to incrementally improve our involvement in the aviation space with the retail of aviation turbine kerosene. We will invest in liquefied petroleum gas and incrementally set up necessary infrastructure for market penetration. “We have also introduced various initiatives targeted at enhancing market presence, growing volumes and local brand equity for our lubricants. In relation to new businesses, we have commenced

discussions with some potential strategic partners with a view to exploring opportunities in identified growth areas within the energy space.” Commenting on the industry outlook, he observed that the Russia-Ukraine conflict has impacted oil prices and created an opportunity for gas producing nation’s like Nigeria to leverage. According to him, heightened tension between the United States and Russia and the continuous imposition of sanctions on Russia have further stirred a deterioration in the fragile relationship between Russia and its European neighbours.

Report on Financial Habits of Millenials FITC, the innovation-led and technology-driven knowledge institution, has launched a first of its kind Millennial and Gen Z Banking Survey Report. In a statement, FITC said the publication aligns with its commitment to continuously provide cutting-edge knowledge solutions to the financial services sector and provides vital consumer data on a demographic that is fast becoming a significant consumer segment globally. The publication, the statement added, was designed to provide crucial data on the Millennials and Gen Z market segment and support decision making by key stakeholders within the financial services sector. Addressing the relevance of the report, the Managing Director/CEO, FITC, Chizor Malize, said the survey was conducted and published by the Insights and Policy Advocacy unit of the FITC. She disclosed that the unit provides support to businesses through industry analysis, to enable them to strengthen their customer relationships and make better business decisions, driven by accurate data. In addition to the Millennials and Gen-Z report, the Insights and Policy Advocacy unit consistently publishes reports that provide actionable insights to the financial services sector. Malize described the publication as a vital tool for innovators and disruptors planning to design products and services for the Millennials and Gen Z demography. “Millennials and Gen Zs are set to become the most important customer group for most banks, neo banks and the financial technology (FinTech) companies. Combined, they currently form the largest adult generation globally with the largest economic impact. Their wealth more than doubled to over $9 trillion since the pandemic began. They are over two billion strong with spending power in excess of $1 trillion. However, “banks” have largely left cutting-edge research on millennial banking habits out of the design processes for product design and marketing strategies development. Financial institutions can no

longer afford to neglect this huge group’’ Malize said. “FITC is committed to equipping and supporting the financial services sector and indeed, players and stakeholders across all sectors of the Nigerian economy with the requisite skills and knowledge to succeed. One of several ways by which we accomplish this, is through research-backed insights and accurate data, to aid sound decision making.” Speaking further, Malize noted that the Millennials and Gen Zs are the most digitally savvy market segment within the financial services sector. The MD/CEO, Wema Bank, Mr Ademola Adebise, who delivered the keynote address noted that of the interesting highlights in the report, is the discovery that millennials generally prefer digital platforms, while the Gen Z preference skews towards physical branches. Represented by the Chief Digital Officer, Mr. Segun Adeniyi. Adeniyi, he said this emphasizes the need for banks and financial institutions to create user-centered product experiences, tailored to the unique preferences of this market segment. Adeniyi attested that insights, driven by behavioral data such as this report, are necessary tools for designing new products, and improving existing ones within the financial services sector. The Deputy Governor, Financial Systems Stability, Central Bank of Nigeria (CBN) and Chairman, FITC Board, Mrs. Aishah Ahmad, who unveiled the report, said the financial services sector needs it for effective decision making on new product development. “Recent changes in the business environment, and more particularly the banking industry across the globe, makes it imperative for periodic research to be conducted on emerging trends and developments. This provides data for better understanding of issues, as well as informed decision making for organizational success and business sustainability. The Millennials and Gen Z Survey Report is therefore very apt and highly commendable.” She stated.

TUESDAY, JUNE 21, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

L-R: Consultant Endocrinologist, UPTH, Prof. Sunny Chinenye; Consultant Endocrinologist, UATH, Prof Felicia Anumah; Deputy National Coordinator, Non-communicable Disease and Seat Officer, Federal Ministry of Health, Dr Alayo Sopetan; President Society for Paediatrics and Adolescent Endocrinology of Nigeria ((SPAEN), Prof. Abiola Oduwole; and Business Unit Head English West Africa, Novo Nordisk Mr. Jude Abonu,, at the Novo Nordisk iCARE stakeholders session held in Abuja… Friday

F AO U n v e i l s 9 Ye a r S t r a t e g i c Google Celebrates Framework to Combat Climate Change Small Businesses in Africa with Scholarships

Gilbert Ekugbe

The Council of the Food and Agriculture Organisation of the United Nations (FAO) has unleashed a nine year strategic framework to combat climate change on science, technology and innovation over the next decade. The FAO strategic framework 2022-31 is expected to steer FAO’s efforts to transform agrifood systems and promote a food secure world for all, as envisioned by the 2030 Agenda on Sustainable Development. The strategic documents were endorsed in Rome by the 170th session of FAO’s executive body, at a time of rising hunger numbers and growing threats to global food security. “These two strategies are the extraordinary result of our collective efforts,” FAO DirectorGeneral QU Dongyu told the Council. In his words: “The Strategy on Climate Change will guide FAO in providing strengthened support to Members in their ambitions to address climate change in agrifood systems, and in the implementation of the Paris Agreement.’ According to him: “The Strategy on Science and Innovation will benefit the billions of small-scale producers and their families who are urgently in need of the best available science, technologies and innovation to play their part in transforming our agrifood systems.” The two thematic strategies deal with the entire global agrifood system, which covers the journey of food from farm to table – including when it is

grown, fished, harvested, processed, packaged, transported, distributed, traded, bought, prepared, eaten and disposed of. Agrifood systems also encompass non-food products, such as forestry and aquaculture, including the sustainable management and conservation of related ecosystems, as well as all the activities, investments and choices that play a part in getting us these food and agricultural products we need. On climate change, FAO said resilient and productive land and aquatic ecosystems are the foundations of sustainable agrifood systems. FAO stressed that the latest scientific evidence from the UN’s Intergovernmental Panel on Climate Change (IPCC) confirms the unequivocal and unprecedented climate risks that the planet is facing from intensifying heatwaves, heavy precipitation and droughts, fires and tropical cyclones. Increasing weather and climate extreme events have already caused economic damages and exposed millions of people to acute food insecurity and reduced water security. Small Island Developing States (SIDS) are at particular risk due to warming ocean temperatures, ocean acidification and rising sea levels. Given the already tangible impact of extreme weather events on food security, nutrition and poverty, “the urgency to address climate change has significantly increased,” the Council was told. Global agrifood systems are responsible for about a third of total greenhouse gas emissions and are one of the major victims of climate change. The FAO

Strategy on Climate Change 2022-2031 presents them as part of the solution. Agrifood systems are envisioned to be sustainable, inclusive, resilient, and adaptive to climate change and its impacts, contributing to lowemission economies while providing sufficient, safe and nutritious foods for healthy diets, as well as other agricultural products and services, for present and future generations, leaving no one behind. The strategy aims to address a broad range of interlinked challenges, including the loss of biodiversity, desertification, land and environmental degradation, the need for accessible, renewable energy, and food and water security. It is organized under three Pillars: i) Global and regional levels (strengthening global and regional climate policy and governance); ii) Country level (developing countries’ capacities for climate action); iii) Local level (scaling up climate action on the ground). Its guiding principles include empowering and engaging farmers, livestock keepers, fishers, aquaculturists, Indigenous Peoples and forest-dependent people, embracing both traditional good practices and innovations, and building on science-based evidence. The Strategy is informed by science, prioritizes innovative solutions and inclusiveness, and recognizes the importance of scaling up both finance and investment. The report also added that FAO sees science and innovation as a powerful engine to transform agrifood systems and end hunger and malnutrition, but stated the need for it to be accompanied by strong institutions, good

governance, political will, enabling regulatory frameworks, and effective measures to promote equity among its actors. Important strides have been made in a range of scientific and technological fields, including in biotechnology, data analytics and nuclear techniques in food and agriculture. Public-private partnerships are on the rise in research and development. At the same time, market concentration has heightened concerns about unequal access to resources and knowledge, both between countries and within social groups. The challenges in harnessing science and innovation for agrifood systems range from underinvestment in research, to gaps in using science and evidence for decision-making. The FAO Science and Innovation Strategy focuses on three Pillars: i) Strengthening science and evidence-based decision-making; ii) Supporting innovation and technology at regional and country level; iii) Serving Members better by reinforcing FAO’s capacities. Achieving the strategy’s vision means that all countries have access to the science and innovation they need to overcome the complex social, economic and environmental challenges facing their agrifood systems. Achieving this vision in a globally equitable, inclusive and sustainable manner requires the active involvement of underrepresented stakeholders – such as women and youth. The two thematic strategies will be operationalized through Action Plans and are due to receive a mid-term review by the Council five years after their adoption.

EKO Disco Pledges Improved Service Delivery as Customers Lament Poor Power Supply Peter Uzoho The Eko Electricity Distribution Company (EKEDC) has responded to the complaints by its customers in Surulere over poor power supply and other operational lapses, saying it is working hard to ensure improved service delivery to all electricity consumers under its network. The Managing Director and Chief Executive Officer of EKEDC, Dr Tinuade Sanda, said the company’s management was keen on establishing a closer relationship with customers across its network with a view to understanding their challenges

and addressing them. Sanda gave the assurances at an engagement forum with the Distribution Company’s (Disco) customers in Surulere, saying the company would perform better in meeting their expectations. Represented at the forum by the Chief Finance Officer, EKEDC, Mr. Joseph Esenwa, Sanda explained to the customers that the Nigerian electricity industry was going through numerous challenges that were even beyond the capacity of the Discos. She noted that those challenges were causing setbacks in achieving improved power supply to consumers across the country.

“As the face of the power industry to the consumers, it is essential for us to actively engage our customers on platforms such as this to identify their problems and provide solutions,” Sanda said. She further explained that inadequate gas supply, low power generation, system collapse, and vandalism have contributed to the drop in power supply, and that the problems were not peculiar to only EKEDC. Sanda stated that the company was currently working with other industry stakeholders to ensure the challenges were reduced to the barest minimum. She pointed out that the

company was upgrading the distribution infrastructure across its network with a loan from the Central Bank of Nigeria (CBN) and that the work will soon get to all customers’ areas. In the area of metering, Sanda urged the customers to embrace the Meter Asset Provider (MAP) scheme provided by the government in closing the metering gap before the commencement of Phase 1 of the National Mass Metering Programme (NMMP). She announced the existence of a mobile metering exercise by Eko Disco to ensure customers get metered within 72 hours of payment confirmation.

Emma Okonji Google has announced new initiatives to support small retail businesses in Africa as part of a month-long commemoration of International Micro, Small, and Medium-sized Businesses (SMB) Day in June. This includes a one-hour virtual training event, Shopping Small Business Summit, aimed at helping SMB owners develop skills and tools to compete online. Speaking about the initiative, Google’s Country Director for West Africa, Juliet Ehimuan, said: “E-commerce presents an opportunity for small businesses in Africa to reach new customers and grow. Through the digital marketing

& e-commerce career certificates and specialised training and 1000 scholarships, we want to be able to assist small businesses in Africa gain the expertise to connect online, expand their customer base and scale up.” E-commerce markets in Kenya and Nigeria increased by 40 per cent and 30 per cent, respectively, in 2021, while online sales in South Africa increased by 66 per cent from 2019 to 2020, reaching more than $1.8 billion. “As more consumers on the continent continue to search for goods and services online, it is critical that small retail businesses learn how to better harness online tools for growth,” Ehimuan further said.

Champion Breweries Posts N1.73bn Profit a s R eve n u e S o a r s Champion Breweries Plc has released its financial results for the 2021 financial year ended on March 31st 2022 in which it achieved N1.73 billion profit before tax and gross revenue of N3.5 billion. The company achieved these milestones despite the challenging macroeconomic environment. In his speech during the company’s 46th Annual General Meeting held in Lagos, Chairman, Champion Breweries Plc, Dr. Elijah Akpan said last year’s performance stood out as a testimony of better times ahead. The company, he added, sustained its path in attaining profitability within the reporting year. “Revenue increased with N3.5 billion compared to last year while operating profit rose significantly to N1.74 billion. Profit before Tax increased to N1.73 billion, “he said. He recalled that Champion Breweries Plc as a company had gone through tough times in the past and with the co-operation of stakeholders is now in profitable territory. He noted that the impressive result posted this year is the reward of the combination of several factors including rebranding Champion Beer and Champ Malt as well as a formidable sales force to drive product sales.

“Our energy cost has also reduced with the building of a gas plant to power the brewery. This is in addition to our beneficial partnership with Raysun Nigeria Limited (Heineken) that has enabled us source raw materials and spare parts at competitive prices. We must also thank the Akwa Ibom State Government for the impressive road network that has ensured our trucks move in favourable road conditions across the state” he stated He assured shareholders that the Board and Management remains focused on maintaining the positive trajectory of results and shall continue to implement the right strategies to attain sustainable growth. To achieve this in the new financial year, he noted that the company intends to launch new products into the market, expand sales territory to other regions, introduce new distribution vehicles and importantly maintain the signature of quality that the brand is known and loved for. He disclosed that in 2021, the Securities & Exchange Commission (SEC) approved the mandatory takeover by Raysun Nigeria Limited to acquire up to 1,196,799,164 ordinary shares from the other shareholders of the Company. These statutory obligations are duly fulfilled leading to Raysun’s increase in her shareholding to 84.72 per cent.

TUESDAY, ͺ͹˜ ͺ͸ͺͺ ˾ T H I S D AY

Tuesday, June 21, 2022

dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ^ŚĞĚ ϴϭďƉƐ dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ĨĞůů ďǇ ϭϰďƉƐ dŚĞ dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ĚĞĐůŝŶĞĚ ďǇ ϭϰďƉƐ ƚŽ ƐĞƩůĞ dŚĞ dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ ŝŶĚĞǆ ƐŚĞĚ ϴϭďƉƐ ƚŽ

THISDAY AFRINVEST 40 INDEX

Ăƚ ϭ͕ϲϳϰ͘ϴϵ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ƐĞůůͲƉƌĞƐƐƵƌĞ ŽŶ E/d, ;ͲϬ͘ϲйͿ͕ Ϯ͕ϰϭϴ͘ϭϮ ŝŶĚĞǆ ƉŽŝŶƚƐ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƐĞůůŽīƐ ŝŶ t W K ;Ͳϭ͘ϯйͿ͕ ĂŶĚ h ;ͲϬ͘ϳйͿ͘ dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂͲ

'd K ;ͲϬ͘ϮйͿ͕ E' D ;ͲϭϬ͘ϬйͿ͕ ĂŶĚ & E, ;Ͳ

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ƟǀĞůǇ ĂĐĐŽƵŶƚ ĨŽƌ ϭϯ͘Ϯй͘

ϳ͘ϮйͿ͘ ƵŵƵůĂƟǀĞůǇ͕ ƚŚĞƐĞ ƐƚŽĐŬƐ ĂĐĐŽƵŶƚ ĨŽƌ

Current Price

Ticker

ϭϭ͘ϭй ŽĨ ƚŚĞ ŝŶĚĞǆ͘ ^/ ƵƉ ϭϭďƉƐ ĂƐ E' D 'ĂŝŶƐ ϯ͘ϯй

THISDAY AFRINVEST 40

WƌĞǀŝŽƵƐ ĚĂǇ͕ ƉƌŝĐĞ ƵƉƟĐŬ ŝŶ ,KEz&>KhZ ĞĂƌƐ KƉĞŶ dƌĂĚŝŶŐ tĞĞŬ͘͘͘ ^/ ĚŝƉƐ Ϯ͘Ϭй ;нϵ͘ϴйͿ͕ E' D ;нϯ͘ϯйͿ͕ ĂŶĚ & E, ;нϬ͘ϳйͿ ďŽůͲ

zĞƐƚĞƌĚĂǇ͕ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĞǆƚĞŶĚĞĚ ŝƚƐ ďĞĂƌŝƐŚ ƐƚĞƌĞĚ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽŶ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĂƐ ƚŚĞ ůůͲ

ƌƵŶ ĨŽůůŽǁŝŶŐ ƐĞůůŽīƐ ŝŶ E' D ;ͲϭϬ͘ϬйͿ͕ ^ŚĂƌĞ

ŝŶĚĞǆ

ƌŽƐĞ

ďǇ

& E, ;Ͳϳ͘ϮйͿ͕ ĂŶĚ t W K ;Ͳϰ͘ϳйͿ͘ ŽŶƐĞƋƵĞŶƚͲ ϭϭďƉƐ ƚŽ ϯϵ͕ϱϱϬ͘ϯϲ ƉŽŝŶƚƐ͘ ŽŶƐĞƋƵĞŶƚůǇ͕ zd ůŽƐƐ ŝŵͲ ůǇ͕ ƚŚĞ ďĞŶĐŚŵĂƌŬ ŝŶĚĞǆ ĨĞůů ďǇ Ϯ͘Ϭй ƚŽ ϱϬ͕ϳϱϲ͘ϳϰ ƉƌŽǀĞĚ ƚŽ Ͳϭ͘ϴй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ ďǇ േϮϯ͘ϰďŶ ƚŽ േϮϬ͘ϲƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚǇ ǁĂƐ ŵŝǆĞĚ ĂƐ ǀŽůƵŵĞ ƉŽŝŶƚƐ ʹ ƚŚĞ ďŝŐŐĞƐƚ ĚĂŝůǇ ůŽƐƐ ƐŝŶĐĞ :ƵŶĞ ϮϮŶĚ͕

5 Zenith Bank PLC 6 Dangote Cement PLC 7 Nestle Nigeria PLC

15 Ecobank Transnational Inc 16 International Brew eries PLC

;ƉƌĞǀŝŽƵƐůǇ͗ Ϯϭ͘ϮйͿ ĂŶĚ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ďǇ ǀŽůƵŵĞ ǁĞƌĞ dZ E^ KZW ;ϭϭ͘ϵŵ ƵŶŝƚƐͿ͕ & E, ;ϭϭ͘ϭŵ

ĚŝƉƉĞĚ േϱϱϬ͘ϲďŶ ƚŽ േϮϳ͘ϰƚŶ͘ DĂƌŬĞƚ ĂĐƟǀŝƚǇ ĂůƐŽ ƵŶŝƚƐͿ͕ ĂŶĚ K E K ;ϳ͘ϯŵ ƵŶŝƚƐͿ ǁŚŝůĞ E ^d> ;േϮ͘ϮďŶͿ͕ ĚĂŵƉĞŶĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ĨĞůů ϭϴ͘ϲй E' D ;േϭϰϱ͘ϬŵͿ͕ ĂŶĚ 'd K ;േϭϯϰ͘ϴŵͿ ůĞĚ ďǇ ǀĂůƵĞ͘

ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

4.9x

Divindend Earnings Yield Yield

P/BV

21.6%

5.6%

82.7%

18.2%

6.2%

221.00

0.0%

7.6%

12.2%

105.6%

13.9%

14.0x

17.2x

6.0%

74.25

0.0%

6.3%

10.7%

23.3%

12.1%

27.9x

6.3x

3.9%

3.6%

21.00

-0.2%

4.4%

-19.2%

19.8%

3.2%

3.5x

0.7x

14.3%

28.9%

0.8x

6.4%

18.5%

36.1%

1.2% 7.2%

22.00

2.8%

4.3%

-12.5%

20.6%

2.6%

2.8x

0.5x

14.3%

249.30

-10.0%

3.5%

-3.0%

37.7%

16.4%

11.3x

4.1x

8.0%

8.9%

1,400.00

0.0%

2.6%

-10.1%

112.8%

16.1%

24.3x

28.3x

3.6%

4.1%

9.00

-7.2%

2.2%

-21.1%

20.1%

1.9%

1.9x

0.4x

3.9%

51.5%

26.60

-4.7%

3.0%

11.1%

15.5%

11.1%

7.2x

1.1x

7.5%

13.9%

9.40

1.1%

2.3%

1.1%

17.9%

1.6%

2.1x

0.3x

7.5%

48.7%

7.50

0.0%

1.7%

-6.8%

15.6%

1.4%

2.2x

0.3x

13.3%

46.5%

33.55

0.0%

1.3%

-6.8%

15.6%

2.1%

7.1x

1.1x

8.9%

14.1%

63.50

0.0%

1.7%

27.0%

10.5%

3.9%

27.3x

2.7x

2.7%

3.7%

1,289.50

0.0%

2.6%

98.4%

7.5%

3.6%

13.2x

1.0x

3.2%

7.6%

10.10

0.0%

1.3%

16.1%

18.4%

1.0%

2.2x

0.4x

6.6%

46.4%

17 Okomu Oil Palm PLC 18 Flour Mills of Nigeria PLC 19 Fidelity Bank PLC 20 AXA Mansard Insurance PLC 21 Dangote Sugar Refinery PLC 22 FCMB Group Plc 23 United Capital PLC 24 Guinness Nigeria PLC

ĂŶĚ ϯϭ͘ϳй ƚŽ ϭϵϲ͘ϯŵ ƵŶŝƚƐ ĂŶĚ േϮ͘ϱďŶ͘

P/E

46.4%

11 United Bank for Africa PLC 12 Stanbic IBTC Holdings PLC

ƚƌĂĚĞĚ ƌŽƐĞ ďǇ ϴϴ͘ϱй ƚŽ േϯ͘ϭďŶ͘ dŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ

30.4% 141.8%

ROA

0.0%

8 FBN Holdings Plc 9 Lafarge Africa PLC 10 Access Holdings PLC

ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ďǇ Ϯϭ͘ϲй ƚŽ ϭϭϬ͘ϴŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ

-0.81%

ROE

1,745.00

3 BUA Cement Plc 4 Guaranty Trust Holding Co PLC

13 Nigerian Brew eries PLC 14 SEPLAT Energy PLC

ϮϬϮϭ͘ >ŝŬĞǁŝƐĞ͕ zd ƌĞƚƵƌŶ ĨĞůů ƚŽ ϭϴ͘ϴй

2418.12

1 Airtel Africa PLC 2 MTN Nigeria Communications PLC

Price Previous Price Current Change Price Change Weighting Index to Change YTD Date

5.65

-9.6%

1.1%

14.1%

-9.9%

-3.4%

193.50

0.0%

1.2%

36.3%

43.6%

25.5%

10.1x

4.2x

4.1%

9.9%

32.00

-8.6%

0.9%

12.9%

15.9%

4.5%

4.9x

0.7x

6.7%

20.4% 39.3%

1.1x

-9.5%

3.35

-0.6%

0.7%

31.4%

13.3%

1.2%

2.5x

0.3x

10.4%

2.04

-1.4%

0.4%

-12.1%

2.9%

0.9%

19.5x

0.6x

12.3%

5.1%

16.00

0.0%

0.4%

-8.0%

16.7%

6.6%

8.6x

1.4x

6.2%

11.6%

10.7%

1.1%

3.50

0.0%

0.4%

17.1%

12.85

-1.2%

0.4%

29.8%

90.50

0.0%

0.7%

132.1%

1.25

-1.6%

0.4%

30.2%

17.8%

8.1%

13.5x

0.3x

6.0%

3.2x

11.7%

2.2x

0.5%

0.5x

1.6%

7.4%

ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

25 Transnational Corp of Nigeria 26 Presco PLC

166.80

0.0%

0.5%

90.0%

7.8x

4.7x

4.1%

12.8%

ĐƌŽƐƐ ŽƵƌ ĐŽǀĞƌĂŐĞ ƐĞĐƚŽƌƐ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ

27 NASCON Allied Industries PLC 28 AIICO Insurance PLC

12.85

0.0%

0.2%

-2.7%

18.5%

5.7%

12.9x

2.3x

3.2%

7.7%

0.65

0.0%

0.2%

-7.1%

21.1%

3.6%

26.4x

0.6x

3.1%

3.8%

ďĞĂƌŝƐŚ ĂƐ ϰ ŝŶĚŝĐĞƐ ůŽƐƚ͕ ϭ ŐĂŝŶĞĚ ǁŚŝůĞ ƚŚĞ &ZͲ ŝŶĚĞǆ ƌĞŵĂŝŶĞĚ ŇĂƚ͘ dŽƉƉŝŶŐ ƚŚĞ ůĂŐŐĂƌĚƐ ĂƌĞ ƚŚĞ ŽŶƐƵŵͲ

29 TotalEnergies Marketing Nigeri 30 Custodian and Allied Insurance

234.50

0.0%

0.2%

5.7%

1.7x

8.2%

7.00

0.0%

0.2%

-11.4%

19.5%

5.5%

4.1x

0.8x

7.1%

24.3%

Ğƌ 'ŽŽĚƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ͕ ĚŽǁŶ ϰ͘ϲй ŝŶĚĞǆ ĂŶĚ / d ŝŶĚĞǆ ĐůŽƐĞĚ ŇĂƚ͘ dŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ

31 Vitafoam Nigeria PLC 32 Unilever Nigeria PLC

22.50

0.0%

0.2%

0.0%

50.3%

19.0%

4.2x

2.1x

6.8%

23.9%

14.80

-1.3%

0.1%

2.1%

8.8%

5.4%

28.9x

1.3x

3.4%

3.5%

ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůǇ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŽĮƚͲƚĂŬŝŶŐ ŝŶ E ^d> ;Ͳ ůĞĚ ƚŚĞ ůĂŐŐĂƌĚƐ͕ ĚŽǁŶ ϱ͘ϯй ĚƵĞ ƚŽ ůŽƐƐĞƐ ŝŶ

33 Julius Berger Nigeria PLC 34 Union Bank of Nigeria PLC

26.90

0.0%

0.2%

20.4%

18.1%

2.3%

6.0x

0.8x

9.3%

16.7%

5.40

-10.0%

0.1%

-8.5%

6.1%

0.7%

8.5x

0.6x

11.8%

5.50

-1.8%

0.1%

24.4%

14.5%

2.6%

2.4x

0.3x

42.2%

ĐƌŽƐƐ ƐĞĐƚŽƌƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ďĞĂƌŝƐŚ ĂƐ ϰ ŝŶĚŝĐĞƐ ůŽƐƚ͕ ϭ ŝŶĚĞǆ ŐĂŝŶĞĚ ǁŚŝůĞ ƚŚĞ &ZͲ/ d

ϵ͘ϭйͿ͕

hE/> s Z

;Ͳϯ͘ϱйͿ͕

>/E< ^^hZ

;Ͳϲ͘ϰйͿ͕

E' D ;ͲϭϬ͘ϬйͿ ĂŶĚ t W K ;Ͳϰ͘ϳйͿ͘ dƌĂŝůŝŶŐ͕

35 Oando PLC 36 Wema Bank PLC

ƚŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ ůŽƐƚ

37 NEM Insurance PLC 38 Sterling Bank PLC

ϭ͘Ϯй ĂŶĚ Ϭ͘ϵй ƌĞƐƉĞĐƟǀĞůǇ ŽŶ ĂĐĐŽƵŶƚ ŽĨ ƉƌŝĐĞ ŽīƐ ŝŶ K E K ;ͲϬ͘ϴйͿ͕ E/d, ;ͲϬ͘ϮйͿ͕ ĂŶĚ 'd K ;ͲϬ͘ϮйͿ͘

39 Notore Chemical Industries Ltd 40 Transcorp Hotels Plc

ĂŶĚ D E^ Z ;ͲϮ͘ϮйͿ͘ ^ŝŵŝůĂƌůǇ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ĂŶŬͲ

ŝŶŐ ŝŶĚŝĐĞƐ ĨĞůů ďǇ Ϭ͘Ϯй ĂŶĚ ϮďƉƐ ƌĞƐƉĞĐƟǀĞůǇ ĚƵĞ ƚŽ ƐĞůůͲ

ŽŶǀĞƌƐĞůǇ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞǆ ǁĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶͲ ĚĞƉƌĞĐŝĂƟŽŶ ŝŶ /Ed Z t ;Ͳϵ͘ϲйͿ͕ &>KhZD/>> ;Ͳ Ğƌ͕ ƵƉ KZE Z^d ϭ͘ϴй ĚƌŝǀĞŶ ďǇ ĂŶĚ ƉƌŝĐĞ E D ĂƉƉƌĞĐŝĂͲ;Ͳ ϴ͘ϲйͿ͕ ;Ͳϯ͘ϮйͿ͕

ƟŽŶ ŝŶ E' D ;нϯ͘ϯйͿ͘

3.17

0.0%

340.3%

15.6%

0.9%

11.7x

1.7x

7.7%

8.5%

3.64

-1.6%

0.1%

-19.1%

22.3%

12.9%

3.8x

0.7x

6.1%

26.6%

1.9x

0.3x

6.5%

51.6%

1.56

0.6%

0.1%

3.3%

9.9%

0.9%

62.50

0.0%

0.1%

0.0%

-17.7%

-4.1%

6.25

0.0%

16.2%

P ric e

-9.5%

1.0x

1.1%

T o p 10 T r a d e s b y V o l u m e

T o p 10 G a in e r s T ic k er

1.8x

P ric e C hg %

T ic k er

Vo lum e

P ric e C hg %

J A IZ B A N K

0.99

5.3%

UB A

29.5

0.0%

R EGA LIN S

0.28

3.7%

FCM B

28.9

0.0%

ĚƌŽǀĞ Ă Ϭ͘Ϯй ĚĞĐůŝŶĞ ŝŶ ƚŚĞ Kŝů Θ 'ĂƐ ŝŶĚĞǆ͘ ŽŶͲ

J A P A ULGOLD

0.31

3.3%

A C C ESSC OR P

22.0

1.1%

Z EN IT H B A N K

22.00

2.8%

FB NH

12.6

-7.2%

ǀĞƌƐĞůǇ͕ ƚŚĞ ĂŶŬŝŶŐ ŝŶĚĞǆ ǁĂƐ ƚŚĞ ƐŽůĞ ŐĂŝŶĞƌ

NA HCO

7.80

2.6%

T R A N SC OR P

11.6

-1.6%

A C C ESSC OR P

9.40

1.1%

GT C O

11.3

-0.2%

ST ER LN B A N K

1.56

0.6%

Z EN IT H B A N K

7.8

2.8%

T R A N SC OH OT

6.25

0.0%

A IIC O

6.2

0.0%

A R D OVA

13.50

0.0%

ST ER LN B A N K

6.0

0.6%

J B ER GER

26.90

0.0%

LIVEST OC K

5.3

-9.8%

ϭ͘ϲйͿ͘ ^ŝŵŝůĂƌůǇ͕ ƐĞůů ƉƌĞƐƐƵƌĞ ŽŶ K E K ;Ͳϭ͘ϴйͿ

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ

/ŶǀĞƐƚŽƌƐ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ

;нϬ͘ϯйͿ ĐŽƵƌƚĞƐǇ ŽĨ ƉƌŝĐĞ ƵƉƟĐŬ ŝŶ E/d, ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ƐƚƌĞŶŐƚŚĞŶĞĚ͕ ƐĞƩůŝŶŐ Ăƚ ϭ͘ϲǆ

;нϮ͘ϴйͿ ĂŶĚ ^d Z>E ;нϬ͘ϳйͿ͘ ĨƌŽŵ ϭ͘ϯǆ ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ůĂƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ Ϯϰ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ ǁŚŝůĞ ϭϱ ƐƚŽĐŬƐ ĚĞĐůŝŶĞĚ͘ DZ^ ;нϵ͘ϵйͿ͕ D zͲ

KƵƚůŽŽŬ < Z ;нϵ͘ϴйͿ͕ ĂŶĚ ,KEz&>KhZ ;нϵ͘ϴйͿ ůĞĚ ŐĂŝŶĞƌƐ /ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ > ^ K ŵĞĂƐƵƌĞĚ ďǇ ĂŶĚ ŵĂƌŬĞƚ ǁŚŝůĞ dZ E^ ;Ͳϴ͘ϯйͿ͕ ;Ͳϲ͘ϳйͿ͕ >/s Ͳ ^dK < ;Ͳϰ͘ϴйͿ ůĞĚ ůŽƐĞƌƐ͘ ǁĞ ͲϬ͘ϭϴ ĞǆƉĞĐƚ ĂƐ ƚŚĞ ďƌĞĂĚƚŚ͕ ǁĞĂŬĞŶĞĚ ƚŽ WƌĞǀŝŽƵƐ ͲϬ͘ϯϭǆ ĚĂǇ͕ ĨƌŽŵ ϳ ŵĂƌŬĞƚ ƐĞŶƟŵĞŶƚ ƚŽ ƌĞŵĂŝŶ ŵŝǆĞĚ͕ ĂƐ ĞĂƌŶŝŶŐƐ ƐĞĂƐŽŶ

ƐƚŽĐŬƐ ŐĂŝŶĞĚ͕ ϯϭ ůŽƐƚ ǁŚŝůĞ ϳϳ ĐůŽƐĞĚ ŇĂƚ͘ /Ŷ ƚŚĞ ŐƌĂĚƵĂůůǇ ǁŝŶĚƐ ƵƉ͘

ŶĞǆƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ͕ ǁĞ ĂŶƟĐŝƉĂƚĞ ŵŝůĚ ŐĂŝŶƐ ƚŽ

ďĞ ĚƌŝǀĞŶ ďǇ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ ŽƉƉŽƌƚƵŶŝƟĞƐ͘

T o p 10 T r a d e s b y V a l u e

T o p 10 L o s e r s T ic k er UB N

P ric e 5.40

P ric e C hg %

T ic k er

Value

P ric e C hg %

-10.0%

N EST LE

592.1

0.0%

GT C O

239.0

-0.2% 0.0%

D A N GC EM

249.30

-10.0%

LIVEST OC K

1.20

-9.8%

UB A

221.2

-9.6%

A C C ESSC OR P

206.4

1.1%

199.9

0.0%

IN T B R EW

5.65

F LOUR M ILL

32.00

-8.6%

M TNN

F T N C OC OA

0.32

-8.6%

Z EN IT H B A N K

171.1

2.8%

115.3

-10.0% -7.2%

SOVR EN IN S

0.25

-7.4%

D A N GC EM

FB NH

9.00

-7.2%

FB NH

114.0

-6.7%

FCM B

100.8

0.0%

-4.7%

A IR T ELA F R I

84.5

0.0%

F ID SON WA P C O

11.20 26.60

T H I S D AY ˾ ˜ JUNE 21, 2022

BUSINESS/MONEYGUIDE

Skymark Partners Redeems N339m Debut Commercial Paper Oluchi Chibuzor Skymark Partners Limited, has announced the maturity and successful redemption of its debut Series 1 Commercial Paper under its N5 billion Commercial Paper Programme. The N339 million 91-day Series 1 Commercial Paper which was issued and quoted earlier this year on the FMDQ Securities Exchange, matured on the 16th of June. In line with best practice, the Exchange has been informed of the repayment. Commenting on the successful redemption, Chairman of Skymark Partners Limited,

Egie Akpata FCCA, said, “We are pleased to have fully repaid all the investors in the Series 1 issuance. We thank all the institutional investors for their participation and reiterate our commitment to be a counterparty that can be counted on for the long term.” Furthermore, he stated, “This redemption reflects Skymark’s capacity to meet its financial obligations as at when due and we intend to remain an active issuer in the commercial paper market.” Following the release of the company’s audited FY 2021 financials, Skymark renewed

its credit rating. The continued growth trend of revenue and profits resulted in DataPro affirming Skymark’s long term rating of A and short-term rating of A1.The rating remains valid till June2023. Skymark Partners is a principal investment company with interests in financial services, technology, and real estate amongst others. Skymark Partners was incorporated in 2009 and is based in Lagos. Skymark Partners is a private investment company focused on investing and creating wealth in critical growth sectors of the Nigerian economy.

SEC Reiterates Commitment to Financial Inclusion Drive Kayode Tokede The Securities and Exchange Commission (SEC), has reiterated its commitment to ensure every segment of the society is covered in the ongoing financial inclusion initiative of the Federal Government. The Director General, SEC, Lamido Yuguda who stated this at the inaugural conference of Oriental News Nigeria with theme: “Engaging with critical groups to develop effective financial inclusion initiative” which held in Lagos, assured that the Commission is committed to ensuring that more Nigerians are captured in the digitalisation of the economy through the financial inclusion policy.

Represented at the conference by Sa’adatu Faruk, Head Financial Inclusion Division, Market Development Department SEC, Yuguda said Financial Inclusion is achieved when individuals and businesses have access to useful and affordable financial products and services. The products and services he stated, must meet the needs of individuals and businesses and must be delivered sustainably and responsibly According to him, “Achieving Financial inclusion involves the coming together of multiple stakeholders, from Federal Government, policymakers, regulators to private industries , including employers, educational systems, communities and individuals. There is a global recognition and

acceptance for the achievement of financial inclusion through a focus on digital technology. “In order to reach the 95per cent financial inclusion target, we must first and foremost recognise the imperative for prioritizing financial literacy at all levels, the importance of innovation and the need to create an enabling environment to promote financial inclusion.” The SEC Boss assured that with the help of the fast growing Fintech penetration in the economy and financial systems, more Nigerians will be captured and be more protected to effectively navigate the nation’s financial systems, through the enabling channels, including the capital market, insurance and savings.

CardinalStone Securities Executes Largest Block Deal in Nigerian Capital Market CardinalStone Securities Limited has announced its recent execution of the sale of 27,336,952,296 ordinary shares of Union Bank of Nigeria Plc at N7 per share by Atlas Mara Limited and Union Global Partners Limited to Titan Trust Bank Limited. A statement explained that the sale, which represented a 93.4 per cent equity stake in Union Bank was for a total value of N191 billion ($461 million). It revealed that CardinalStone Securities Limited in the deal acted as stockbrokers to Atlas Mara Limited and Union Global Partners Limited as well as Titan Trust Bank Limited, the new core investors in Union Bank. “This landmark transaction is the largest divestment/acquisition deal executed in the Nigerian capital market. With a trade value of N191 billion ($461 million), the

deal surpasses the divestment of c.3.2 per cent of Dangote Cement Plc by Dangote Industries Limited (transaction value - N125 billion, $346 million), Crown Flour Mill’s acquisition of Dangote Flour Mills Plc (Transaction value N120 billion, $333 million), Access Bank Plc’s acquisition of Diamond Bank Plc (Transaction value: N72.5 billion, $236 million), NIPCO’s acquisition of Mobil Nigeria Plc (Transaction value: N91 billion, $282 million).” Speaking on the transaction, the Group Managing Director/Chief Executive Officer of CardinalStone Partners Limited, Mr. Michael Nzewi stated: ‘’We are pleased to have played a key part in such a remarkable transaction in Nigeria’s capital market and the banking industry, bringing together Union Bank of Nigeria Plc, Nigeria’s second

oldest bank, and Titan Trust Bank Limited, a technology-focused new generation bank. We heartily congratulate both parties on the successful closure of the transaction and applaud other professional parties involved in the transaction.” In addition, the Managing Director of CardinalStone Securities Limited, Mrs. Elile Olutimayin, commented on the milestone attained by CardinalStone as the executing stockbroker on the largest deal in the local bourse, saying, “CardinalStone Securities remains the first point of call for both local and foreign investors seeking to execute strategic transactions in Nigeria’s capital market. We remain committed to deepening the capital market and appreciate the parties for entrusting CardinalStone with such an important transaction.’’

NIMN Inducts Exposé Marketing Solutions MD as Fellow Managing Director, Exposé Marketing Solutions Limited, Abayomi Ayoola, has been inducted as an honorary Fellow of the Nigerian Institute of Marketing of Nigeria (NIMN), in recognition of his contribution to the growth of the marketing industry. Ayoola as a seasoned marketing expert has over 12 years of cumulative experience in core banking operations, media, entertainment, hospitality, logistics and experiential marketing. Ifeanyi Konwea, head of Brand Management of the company while speaking on the induction on behalf of Team Exposé said

that Ayoola’s induction as a fellow of the National Institute of Marketing of Nigeria, a prestigious institution, is nothing short of commendable as this goes to show the impact of his work and contribution to the marketing world. Konwea describes Ayoola as a thought leader with skills in developing talents with keen eyes for executing tasks in detail, adding that he has been featured in communication prints like Marketing-Edge magazine and Brand Communicator in special reports on emerging game-changers in the marketing industry.

According to him, to say this is much deserved would not do justice to all he has done and achieved. He has time and again done the impossible, proven himself to be a visionary and an exceptional leader. Abayomi Ayoola as a marketing communication professional with product development, client management, and key accounts experience has worked on both local and global brands like Heineken, Amstel Malta, Chivas Regal, Martell Cognac, Airtel, Huawei, Dangote, Goldberg, Star beer, Redbull, G.H Mumm Champagne, Alat by Wema, and Jameson amongst others.

L-R; Executive Director, Technical Anchor Insurance Company Ltd. Mr. Adebisi Ikuomola; Company Secretary/Legal Adviser, Ime Umoh; the Managing Director/CEO, Mr. Ebose Augustine Osegha; Head Management Accounts, Mrs.Linda Okoh; and the Group Head, Business Development, Mr. Valentine Afegbai at the Media Lunch of Anchor Insurance new Local Passengers Flight Welfare SUNDAY ADIGUN Scheme, held in Lagos... yesterday

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 ͱͮ˜ ͰͮͰͰ

The price of OPEC basket of thirteen crudes stood at $118.84 a barrel on Friday, compared with $116.50 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).

T H I S D AY ˾ ˜ Ͱͯ˜ ͰͮͰͰ

Stock Market Down N550.62bn on Profit-taking in Dangote Cement, 30 Others Kayode Tokede Investors’ profit-taking in Dangote Cement Plc and 30 others stocks on the Nigerian Exchange Limited (NGX) depreciated market capitalisation by N550.62billion in first day trading this week. The market capitalisation of the NGX that opened for trading at N27.914 trillion dropped by 1.92per cent or N550.62billion to close trading yesterday at

N27.363trillion. Consequently, the NGX All Share Index (ASI) decreased by 1,021.34 basis points or 1.97 per cent to close at 50,756.74 basis points from 51,778.08 basis points when the stock market opened for trading. The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Dangote Cement, Flour Mills of Nigeria, Lafarge Africa, Fidson

P R I C E S MAIN BOARD

F O R DEALS

Healthcare and FBN Holdings (FBNH). However, sector performances were negative as the Industrial index depreciated by 5.27per cent, Consumer Goods Index down by 1.16 per cent and Oil and Gas Index also fell by 0.23 per cent, while the Banking Index gained 0.35 per cent to close in green zone. Market breadth closed negative, with 31 losers versus seven gain-

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

QUANTITY TRADED

VALUE TRADED ( N )

ers. Jaiz Bank recorded the highest price gain of 5.32 per cent, to close at 99 kobo, per share. Regency Alliance Insurance followed with a gain of 3.70 per cent to close at 28 kobo, while Japaul Gold and Ventures appreciated by 3.33 per cent to close at 31 kobo, per share. Zenith Bank went up by 2.80 per cent to close at N22.00, while Nigerian Aviation Handling Company (NAHCO) appreciated by 2.63 per cent to close

T R A D E D MAIN BOARD

A S

at N7.80, per share. On the other hand, Dangote Cement and Union Bank of Nigeria (UBN) led the losers’ chart by 10.00 per cent each to close at N249.30 and N5.40 respectively, while Livestock Feeds followed with a decline of 9.77 per cent to close at N1.20, per share. International Breweries lost 9.60 per cent to close at N5.65, while Flour Mills of Nigeria shed 8.57 per cent to close at N32.00, per share.

O F

However, the total volume traded rose 43.04 per cent to 345.005 million shares, worth N3.073 billion, and traded in 5,075 deals. Transactions in the shares of FCMB Group topped the activity chart with 177.592 million shares valued at N668.970 million. United Bank for Africa (UBA) followed with 29.499 million shares worth N221.187 million, while Access Holdings traded 21.965 million shares valued at N206.365 million.

2 0 / 0 6 / 2 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

TUESDAY, ͺ͹˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

REACTIVATION OF THE TRANS-SAHARAN GAS PIPELINE PROJECT...

L-R: Algerian Minister of Energy and Mines, Mohamed Arkab; Minister of State Petroleum Resources, Chief Timipre Sylva and Nigerien Minister of Petroleum, Mohamane Mahamadou, at a meeting of the reactivation of the Trans-Saharan Gas Pipeline project, in Abuja, ...yesterday

Court Restrains INEC from Ending Voter Registration Labour Party urges commission to deploy more officials to improve registration Alex Enumah, Udora Orizu and Emameh Gabriel in Abuja Justice Mobolaji Olajuwon of a Federal High Court in Abuja, has issued a restraining order against the Independent National Electoral Commission (INEC) from ending the registration of eligible voters for election on the June 30, 2022. The restraining order was issued yesterday, while delivering ruling in an ex parte application brought to that effect by the Socio-Economic Rights and Accountability Project (SERAP). The order was to last pending the hearing and determination of the suit the plaintiffs brought against INEC over its decision to close its voter registration exercise in preparation of the 2023 general elections by the end of June. SERAP and 185 concerned Nigerians had early this month dragged INEC to court, asking the court to, “declare unconstitutional, illegal, and incompatible with international standards the failure of the electoral body to extend the deadline for voter registration to allow eligible Nigerians to exercise their rights.” Specifically, the plaintiffs in the suit, asked the court for, “an order restraining INEC, its agents, privies, assigns, or any other

person(s) claiming through it from discontinuing the continuous voters’ registration exercise from June 30, 2022 or any other date pending the hearing and determination of the motion on notice.” The plaintiffs had claimed that unless the court intervenes a lot of eligible voters who have not registered would be denied the opportunity to perform their civic duty. However, in a short ruling, the court granted the prayers of the plaintiffs and adjourned to June 29, 2022, for the hearing of the Motion on Notice for interlocutory injunction. The plaintiffs had instituted the legal action following the decision by INEC to extend the deadline for the conduct of primaries by political parties by six days, from June 3 to June 9, but refused to extend the online pre-registration which ended May 30, 2022 and the Continuous Voter Registration (CVR) ending June 30, 2022. In the suit marked: FHC/L/ CS/1034/2022, filed at the Federal High Court, Lagos, and transferred to Abuja, SERAP asked the court to determine, “whether the failure of INEC to extend the deadline for voter registration is not a violation of the Nigerian Constitution, the Electoral Act, and international

standards.” SERAP is asking the court for “a declaration that the failure of INEC to extend the deadline for voter registration is a violation of eligible Nigerians’ rights to participate freely in their own government, equality and equal protection.” SERAP is also asking the court for “an order of mandamus to direct and compel INEC to extend voter registration by a minimum of three months and take effective measures to ensure that eligible Nigerians are able to register to exercise their right to vote in the 2023 general elections.” The plaintiffs stated that while, "One of the people’s most sacred rights is the right to vote, the commission has a constitutional and

statutory responsibility to ensure the effective exercise of the right of all eligible voters to participate in their own government.” They argued that, "Extending the deadline for party primaries without providing adequate time and opportunity for eligible voters to register and participate in the 2023 general elections would amount to an unfair and discriminatory treatment of Nigerian voters, and violate other human rights.” According to them, extending the voter registration deadline would provide more time for eligible voters, including young people, the elderly, people living with disability, as well as those resident in states facing security challenges and living in IDP camps

The United Nations High Commissioner for Refugees (UNHCR) has disclosed that Nigeria currently has 3.2 million internally displaced persons (IDPs) and 84,000 refugees. The UN Refugee Agency while revealing that its global trend report released recently showed that 89.3 million people were forcibly displaced at the end of 2021 worldwide, with 27.1 million being refugees, 53.2 million IDPs, and 4.6 million asylum seekers, noted that most of the refugees in Nigeria come predominately from the south-west and north-west regions of Cameroon affected by the conflict between the government and activists calling for separation of Anglophone regions. The UNHCR in a statement yesterday marking the World Refugee by its Representative in Nigeria, Ms. Chansa Kapaya, said

the 77,000 Cameroonians are hosted mainly in four states. She noted: “In Cross River, Taraba, Benue and Akwa Ibom they began arriving as of 2017 to date. Nigeria also hosts an additional 6,900 refugees and asylum seekers from other countries, but predominately from Syria, Niger, DRC, Turkey CAR, Lebanon mainly settled in urban cities in Nigeria, like Lagos, Abuja, Kano, Ogun.” She added: “Nigeria is party to the 1951 United Nations Convention relating to the status of refugees and its 1967 protocol as well as the 1969 OAU Convention and other regional instruments which mandate signatories to provide protection to a person who seeks refuge(asylum) owing to a well-founded fear for his life and to seek durable solutions to their problems. “Nigeria has fulfilled her international obligations and has also reaffirmed her commitment

Labour Party Tasks INEC to Deploy More Ofﬁcials to Improve Voters' Registration

Meanwhile, the National Chairman of Labour Party, Julius Abure has advised INEC to deploy more officials to improve on and expedite the process of registering more Nigerian voters to make them eligible for the 2023 general elections. Abure made the appeal yesterday, during a telephone interview with THISDAY, noting that a lot of Nigerians who had been eager to register in the last few weeks have not been able to do so. He said giving the pressure on the Commission by Nigerians, there

was need to improve on continuous voters’ registration, "because a lot of young people who wanted to register have not been able to do so in the past two weeks across the country." "You know registration is the Commission's pre- condition for people to have their PVCs and then to be able to participate in the election. "We want to appeal to INEC that they should deploy more officials to the field to continue with the registration of prospective voters,” he added. Abure also expressed confidence that INEC would not be overwhelmed by the pressure from perspective voters and it preparation for next year's general elections.

CJN Expresses Concern over Rise in Sexual Violence Wants judges, investigators, prosecutors to rise up to the challenge Alex Enumah in Abuja The Chief Justice of Nigeria (CJN), Justice Ibrahim Tanko Muhammad has expressed concern over the rising cases of sexual violence against vulnerable members of the society, especially women and children.

To this end, Justice Muhammad challenged judges including all stakeholders in the administration of criminal justice to play the roles individually and collectively to checkmate the menace. The CJN, who noted that sexual offences and violence against person

Nigeria Has 3.2 Million IDPs, 84,000 Refugees, UNHCR Reveals Michael Olugbode in Abuja

to participate in the 2023 elections.

and exceptional solidarity with refugees by her commitment to the Global Compact on Refugees (GCR) principles of refugee inclusion and responsibility sharing.” Kapaya said with this year’s world refugee day theme: “The Right to Seek Safety,” as individuals, “we all share the responsibility to protect people seeking safety. whoever they are, wherever they come from, and whenever they are forced to flee.” “But reaching safety is only just the beginning, people fleeing war or other forms of violence or abuse need opportunities to heal, learn, work, and thrive. This is in line with the refugee convention and the Global Compact on Refugees. “They also need solutions, such as an opportunity to return home when the situation permits in safety and dignity, or to integrate locally wherever they have found safety and have rebuilt their lives,

or for the most vulnerable cases opportunities to be resettled to a third country. “We can all make a difference, in the lives of refugees, we can play a part, no one is a refugee by choice, but we have the choice whether to help or not, whoever, wherever, whenever. Everyone has the right to seek safety. Seeking asylum is human right and protecting refugees is a collective global responsibility!” In his message on the day, the High Commissioner for Refugees, Filippo Grandi asked world leaders to shun war and embrace peaceful resolution of crisis. “Yet this year we are again reminded of the work we have ahead of us as world leaders remain unable or unwilling to resolve conflicts. We at UNHCR recently announced the seemingly unimaginable: 100 million people have now been forced to flee their homes.

have been in a steady increase, said strict application of the law by relevant stakeholders could help reduce the social menace in the country. Muhammad stated this while declaring open a two-day capacity building workshop for female judges. The workshop organised by the National Association of Women Judges of Nigeria (NAWJN) in Collaboration with the National Judicial Institute (NJI) had as its theme: “Inclusive and Access to Justice: Sustaining Public Confidence in the Judiciary.” According to the CJN, there are many laws, "which include the Violence Against Persons (Prohibition) (VAPP) Act, 2015 provide legislative and legal framework for prevention of all forms of violence against vulnerable persons, especially women and children," which he said judges should strictly enforce in the course of their adjudicatory duties. "This would help curtail violence at the home front and indeed the larger society, which is fast becoming a trend in the recent day Nigeria," he added. While commending the organisers for the workshop, he noted that the theme could not have come at a better time than now in view of the prevalence of sexual offences and other related crimes against women and children in the country. Outside the judges, Justice

Muhammad similarly called on investigators and prosecutors to always ensure that due diligence was done in prosecuting cases involving sexual violence and other related offences. He therefore enjoined participants to take full advantage of the workshop to improve access to justice and sustain public confidence in the judiciary. Earlier, the Administrator of the National Judicial Institute, Justice Salisu Abdullahi (Rtd), the NJI's administrator, decried the rise in the number of cases of violence against women in Nigeria that are reported daily. Justice Abdullahi, remarked that the inhumane offence of sexual violence against women often undermines the victim's sense of self-worth and self-esteem. He therefore charged all stakeholders in administration of criminal Justice to be alive to their responsibilities in securing conviction against offenders. On her part, the National Association of Women Judges (NAWJN), Justice Jummai Sankey, noted that for effective adjudication on sexual based violence all stakeholders must be involved. The NAWJN' s president however, described the police, who for instance appears to be at the bottom of the adjudication pyramid, as very essentially element for the success of the trial in cases of sexual assault.

TUESDAY, ͺ͹˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

2022 WORLD DRUG DAY... L-R: Secretary, National Drug Law Enforcement Agency (NDLEA), Shadrach Haruna; Chairman, Gen. Buba Marwa (rtd); Country Director, United Nations Oﬃce on Drugs and Crime (UNODC), Mr. Oliver PHOTO: ENOCK REUBEN Stolpe and Former Director General, NDLEA, Lanre Ipinmiso, during the World Press conference on the 2022 World Drug Day by NDLEA in Abuja... yesterday

Buhari: With Oyebanji’s Victory, Things Are Getting Better in APC Says all ruling party governors mobilised for his election I didn't buy vote to win Ekiti governorship, declares gov-elect Deji Elumoye in Abuja and Victor Ogunje in Ado Ekiti President Muhammadu Buhari, yesterday, said with the victory of the All Progressives Congress (APC) at Saturday’s governorship election, in Ekiti State, things had begun to lookup for the ruling party. Buhari who spoke while receiving Ekiti State governor-elect, Biodun Oyebanji, in his office at the State House, Abuja, added that his assertions were even more evident, given how APC’s 22 governors

mobilised for the party’s victory on Saturday in Ekiti. Oyebanji, who was accompanied to the Villa by the National Chairman of the APC, Senator Abdulahi Adamu, Governors Kayode Fayemi (Ekiti), Abubakar Badaru (Jigawa) and Atiku Bagudu (Kebbi) as well as a former Ekiti State governor, Niyi Adebayo, also dismissed speculations that he bought the votes that earned him victory. According to Buhari, “I loved how the APC governors mobilised, and supported you. I think the party is very lucky, and things

are getting better. I congratulate the chairman, and I pray you sustain it.” The president hinted that he keenly followed the polls and was delighted with the orderly conduct, and way the electorate as well as security agencies comported themselves. The governor-elect, on his part, appreciated the president, and said the election was a referendum on the party, “and a clear, positive signal to the election in Osun, and the national one next year. APC is still the party of choice.”

Oyebanji further hailed the president “for the leadership and the level playing field you provided,” adding that, he would be magnanimous in victory, as earlier advised by Buhari. Speaking with newsmen after meeting with the President, Oyebanji said neither he nor his party was involved in the widespread vote-buying alleged to have taken place during the election that he won. "I did not witness any votebuying in the polling unit where I voted," he said, adding that, he won

NUT Vows to Resist Teachers’ Sack By Kaduna State Government Insists competency test lacks merit

John Shiklam in Kaduna The Kaduna State Chapter of the Nigerian Union of Teachers (NUT) has vowed to resist the sacking of 2,357 of its members, including the National President of the union. They were sacked by the Kaduna state government for failing a competency test conducted in December 2021. The Kaduna State Universal Basic Education (KASUBEB) had in a statement on Sunday in Kaduna, disclosed that 2,192 primary school teachers failed the test conducted for over 30,000 teachers in December last year. The statement issued by Hauwa Mohammed, an official of the board, said 165 were sacked for poor performances while others were sacked for failing to write the test. However, the state chapter of the NUT, said the test lacked merit, maintaining that it was put together to deliberately sack teachers. Speaking in a telephone interview yesterday, the chairman of the union, Ibrahim Dalhatu, vowed that the NUT would resist the injustice against its members. He said there was a pending suit against conducting the test, arguing that KADSUBEB ought to have maintained the statuesque pending the decision of the court. Dalhatu said the NUT took the decision that its members should not participate in the test after

approaching the court. He alleged that some people were recruited by KADSUBEB to write the test for some teachers. Dalhatu also faulted the result of the test, alleging that names of some teachers who had retired two years ago were included among those who passed the test. He said, from the beginning, KADSUBEB did not carry stakeholders along in the conduct of the test. “From the initial stage when the state government wanted to conduct another competency test, stakeholders were not carried along. We only heard about it in the media, so we wrote a letter to SUBEB to find out whether what we read in the media was true. “They confirmed that it was true and we asked them to involve the NUT in the conduct of the test, but the SUBEB Chairman and his management did not open up to us “We took a position after consulting with the National Secretariat of the NUT not to participate in the competency test”, he said. According to him, “The state government was interested in sacking teachers and we told them that if they want to sack teachers, they should do so without hiding under the pretext of competency text. “We told them that they should do so without tarnishing the image of teachers. “They insisted on conducting

the test and we went to court to challenge it. They were served with the court process in November 2021, but they went ahead to conduct the test in December 2021. “We told our members not to participate in the exercise and most of them did not participate. “SUBEB hired some people to write the test for some teachers. That was how the test was conducted. “So we don’t know those who

wrote the test and those who did not write.” The NUT chairman alleged further that, “After they released the result of the test, we saw that there are names of people who have retired two years ago whose names were among those who passed the test.” He said the NUT held an emergency meeting yesterday on the matter, reiterating that the test was illegal and unacceptable.

the poll based on the performance of the outgoing administration in the state in which he played a prominent role. The former Secretary to the Ekiti State Government (SSG), said he canvased for votes using the record of performance of the present administration and what he had to offer the people going forward. Specifically responding to allegation of vote-buying, Oyebanji said, "Well, where I voted, I did not witness anything like that. You know, but people are entitled to their opinion. But not to their facts. "Well, I will speak for myself. I canvassed for votes. I had a manifesto that I unveiled to Ekiti people. And I canvassed based on that manifesto. And I'm a part of a government that has done so well. "Last time I was here, I said if performance will be an indicator for electoral success that we have nothing to fear. So, as far as we are concerned, APC, we did not involve in vote buying but we have done so well and we have a manifesto that pleases our people." Earlier, APC National Chairman, Senator Abdullahi Adamu, ascribed the election glory to God, and pledged that same would be replicated in Osun State next month.

Adamu said the allegation of vote-buying was raised by elements who were losing at the poll. "I just want to add a word or two in the response of our governor-elect on the issue of vote buying. As a patriotic Nigerian that is privileged to lead the ruling party in this country, today, I want to only appeal to the media. Please, don't partake in portraying negative attitudes in our processes. If you do so, you are compromising. I'm sorry to say so. You're compromising the integrity of our process as a country. "I would have preferred if the person who asked that question to say, ‘Look, in America, this is what they do in a democracy in respect to the subject matter. In the United Kingdom or France, this is what they do. This is what you are doing differently’. And please let us not be too much in the space of speculation. "I have noticed that over the last maybe four or five general elections in this country, this issue of vote buying has taken a center stage. One can only evidence what he saw. And I'm sure his excellency the governor-elect, responded in very good faith. "Some of you who asking Continued on page 36

Baraje: Okowa's Vice Presidency will Assist Atiku in Fixing Nigeria's Challenges Hammed Shittu in Ilorin Former Acting National Chairman of the Peoples Democratic Party(PDP), Alhaji Abubakar Kawu Baraje has said the party's presidential running mate and Governor of Delta State, Senator Ifeanyi Okowa will support the presidential candidate, Alhaji Atiku Abubakar to address the insecurity and economic challenges facing the country if elected in the 2023 election. Baraje who spoke with reporters in Ilorin, Kwara State, yesterday, on the justification of the PDP's choice of Okowa as Atiku's running mate said, “Governor Okowa isn't an inconsequential personality. He is going to be a performing vice

president, somebody that will give full support to the president; he is going to be a highly complementary vice president to Atiku Abubakar. “Okowa had been a two- term Commissioner and was very supportive to his boss. He had been Secretary to the government of Delta State, he was highly complementary. "That was why he was invited by his people as a serving Senator to come and be the governor of the state and we could see what his performances are." Baraje expressed optimism that the electorate in the South would still vote for the PDP because of the vibrancy of the vice-presidential candidate and because, "the region is most assured of presidency with

the party come 2027." He added: “Despite that the presidential candidates of the APC and Labour Party emerged from the south, the electorate will still go for the PDP candidate, Because of reach, vibrancy and political dexterity of the PDP's candidate and his running mate. “Also because of the assurance that in 2027, the presidency will shift to the south and not only to the south, but to the south-east, where we know there has been a lot of agitation and all these are parts of the criteria that PDP put into permutations before they come out with Okowa." Baraje however posited that the battle for supremacy at the polls won't be decisive at either south

or north, rather at the central. He predicted that series of cross party movements would swing the pendulum in favour of the PDP. “The battle is not in the south, there are some states that actually create some swings and Delta is one of them; Rivers and Lagos are parts of them. Coming to look at where is the battle, the battle is in the central part of the country, and I know definitely some of us coming from the central are loyalists of the PDP. “We are sure that a lot of swings will take place in the central zone that will give PDP a positive advantage in winning the election in 2023. As far as I'm concerned, the south belongs to the PDP," Baraje stated.

TUESDAY, ͺ͹˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

MEMORIAL LECTURE... L-R: Guest Lecture and Founder/Chairman, FATE Foundation, Mr. Fola Adeola; Former CBN Governor, Mr. Joseph Oladele Sanusi; his wife, Mrs. Abigail Sanusi, and Prince Julius Adeluyi-Adelusi, at the PHOTO: MUBO PETERS. 10th year Memorial Lecture in Memory of Late HRM Oba Oladele Olashore held in Lagos... yesterday

Tinubu: No Lagosian Has Gone So Far Despite Contributing to Nation’s Development Says his victory at APC presidential primary not easy, alleges gang-up Segun James Presidential candidate of the All Progressives Congress (APC), Senator Bola Ahmed Tinubu, has said no Lagos indigene has had the opportunity to become President of Nigeria, despite the contribution of the state to national stability and progress. Tinubu, who recalled that his victory at the party’s presidential primary on June 8, at the Eagles Square, Abuja, did not come easy, saying he not fought a hard battle to clinch the ticket, but battled gang-up against him. Speaking at the palace of the Oba of Lagos, Oba Rilwan Akiolu said, the former Lagos State governor, said, “The highest position attained by any Lagosian in national leadership is the position of Chief Judge of the Federation. “I took up the fight to break this jinx. The battle to secure the APC ticket was hard. When I was almost fed up, I resorted to prayers. I also poured out my mind when I felt there was a gang-up against my person. Thank God that I have brought home the presidential ticket. “The task ahead is to galvanise our people to get their voters’ cards and vote to enable us realise this ambition. Getting our people to vote is the most important task for all of

us. We need to take this message to our people across communities and sensitise them on the need to vote in the general election.” Akiolu, who was elated at the victory, described Tinubu as his “stubborn son” and said it was time for political leaders in the Southwest region to close ranks and work for his victory in the 2023 presidential election, saying politicians in the region must complement the massive support received byTinubu across the country. His words: “Your emergence as the presidential candidate of your party is the beginning of another journey in your political career. All Yoruba ancestors shall be with you on this journey to make our fatherland a better place.” Tinubu left the palace to his house on Bourdillon Road in Ikoyi, where the APC governors, led by the chairman of the Progressives Governors Forum, Atiku Bagudu, were waiting to receive him. Other dignitaries, who received Tinubu at his Bourdillon home included Jigawa State Governor, Muhammed Abubakar Badaru; Kwara State Governor, AbdulRahman AbdulRazaq; Nasarawa State Governor, Abdullahi Sule; Yobe State Governor, Mai Mala Buni; Ogun State Governor, Dapo Abiodun; and former Governor

Gbenga Daniel, among others. Tinubu, who returned to Lagos for the first time after clinching the APC presidential ticket, arrived in

company with notable APC leaders. Various groups of artisans, women, and youth joined thousands of APC faithful in Lagos

to welcome Tinubu back to his base, even as there were various cultural troupes and musical bands, entertaining the massive crowd.

Akeredolu Begs Global Community to Support Fight Against Insurgency Terrorists demand N100m to release 36 abducted worshipers in Kaduna community John Shiklam in Kaduna and Fidelis David in Akure Ondo State Governor, Mr Oluwarotimi Akeredolu (SAN), yesterday, appealed to the international community to help Nigeria in the fight against terrorism, adding that the state needed if Nigeria did not. Akeredolu, who explained that the June 5th attack in Owo, which claimed 40 lives with many others injured, was perpetrated by terrorists, noted that the country must now accept that it was dealing with terrorism, especially that they were in almost every forest. This is as terrorists, who attacked Maranatha Baptist Church and St Moses Catholic Church in Rubu community, Kajuru Local Government Area of Kaduna

State on Sunday, had demanded N100 million for the release of their victims. However, Akeredolu, who spoke while receiving members of Council of the All Saints Church, Jericho, Ibadan, led by chairman, Dr. Onnuola Adewunmi, who came on a condolence visit, said:” We have terrorists in Nigeria. “We need the world to assist Nigeria. If Nigeria doesn’t want it, Ondo State wants it. They still attacked somewhere in Ogun State recently. There are terrorists lurking in our forests.” Akeredolu, who also disclosed that the time was ripe for the people to be trained on basic civildefence, reiterated that the people must, therefore, be prepared. He also harped on the need for Churches to install CCTV as part

of the security measures to prevent reoccurrence of the Owo terror attack. He thanked members of his Church for deeming it fit to pay the state a condolence visit all the way from Ibadan. “I belong to a church that I am very proud of. And that church deemed it fit at this time in our state to pay a condolence visit. I thank you", the Governor said. Earlier, Chairman of Council, Dr. Onnuola Adewunmi, who commiserated with the governor and the poeple of the state in general over the Owo massacre, assured the governor that the church would intensify prayers for the state. "Sir, you could trust that your church has always been praying for you. You could trust that your church has always supported you in prayers on numerous occasions.

BUHARI: WITH OYEBANJI’S VICTORY, THINGS ARE GETTING BETTER IN APC this particular question did not go to Ekiti. You were not there. Somebody, who is losing the election flied a kite; 'Oh no, they are buying votes and all the kind of money they have we don't have, that's why I'm losing,' and you are helping to market that opinion. "I'm only appealing to you as a fellow Nigerian and somebody, who has been in this your trade before today. Please, let us help build this country positively." On the dangers of APC’s ‘place holder’ for the presidential running mate not relinquishing the post, he said there is nothing to worry about. His words: "We are not in the speculative world. We are governed by the laws of the land. There's nothing our presidential candidate has done with regards to returning his forms that is not within the

confines of the law of the land. “Everything we've done so far we have done very carefully with legal consultation and we are cocksure. We’re not going to have the kind of speculation that you are professing at this point in time. We're very comfortable with what we have done. It is still pessimism. However, we are not in that school of thought yet. We don't have to be there." Also, in his capacity as Chairman of the Campaign Council for Ekiti, Governor Bagudu Badaru of Kebbi State, congratulated President Buhari on the successful outing, saying, “Your unending effort to reposition the party is paying off. “If we combine the votes of the candidates that came second and third, our candidate still beat them by a wide margin. APC is being daily endeared to Nigerians.

Lagos State Governor, Babajide Sanwo-Olu, with his Deputy, Dr. Obafemi Hamzat, received Tinubu and his entourage.

Our gratitude goes to you, Mr President.”

Senator, APC Leader Urge Oyebanji Not to Disappoint Ekiti

The Chairman, Senate Committee on Judiciary, Human Rights and Legal Matters, Senator Michael Opeyemi Bamidele, has congratulated the governorship candidate of the APC in Ekiti State, Mr. Biodun Abayomi Oyebanji, for his victory at the just concluded governorship poll. Describing Oyebanji's victory as well-deserved, the federal Lawmaker said both the All Progressives Congress (APC) and its governorship candidate were worthy of the massive votes of the electorate in the state. Bamidele explained that, "going

by the unmatched performance of the APC-led Fayemi administration in Ekiti State, the giant strides of the Buhari administration in the areas of infrastructure growth, diversification of the economy, the consistent crusade against corruption, the enduring fight against insecurity coupled with the wide acceptability and popularity of Biodun Abayomi Oyebanji among Ekiti people, APC's victory in the just concluded poll is very much expected." While thanking Ekiti people for coming out en masse to vote for APC and its candidate, Bamidele urged them to continue to stand by the party to enable it consolidate on its progressive strides and to further take the state to greater heights. He, therefore, assured the Ekiti people that they should

not entertain any fear, saying with Oyebanji as governor, Ekiti people were in safe hands, because he had known Oyebanji over the years as a well-focussed, dedicated and reliable patriot with listening ears. Also, another APC chieftain, Dr Olusegun Osinkolu, has rejoiced with the governor-elect on his victory at the Ekiti governorship poll. Osinkolu said the victory should further rededicate the APC and the governor-elect for more rewarding democracy dividends to Ekiti voters, for deeming the ruling party worthy of being voted for to rule the state beyond Governor Kayode Fayemi's tenure. The former Buhari/Osinbajo Chief campaigner in Ekiti said this in his congratulatory message issued in Ado Ekiti, yesterday, felicitating Oyebanji on his victory in the keenly contested electoral battle.

This one really overwhelmed us, that such a heinous crime could be committed in our land," he added. On the terrorists, who attacked Maranatha Baptist Church and St Moses Catholic Church in Rubu community, Kajuru Local Government Area of Kaduna State, the village head, Mr. Elisha Mari, who was among those abducted disclosed this to journalists in an interview yesterday, when heads of security agencies and officials of the Kaduna government visited the area to assess the situation. He confirmed that 36 worshipers were abducted during the attack. Sources had said that on Sunday, some 30 people were abducted with several others missing. Mari said, the terrorists freed him as the traditional leader of the community and asked him to go and bring N100 million to secure the release of other victims. The traditional ruler said the terrorists, who were riding on 30 motorcycles invaded his community on Sunday in broad daylight, shooting sporadically, adding that the three people that were killed during the attack, attempted to fight the bandits. He said it took them two hours to reach the hideout of the terrorists in the forest. Meanwhile the abductors of 14 other people on Saturday in Mararaban Kajuru, also in Kajuru LGA, were yet to make any demand. Sources in the area said the terrorists were yet to make any contact with the community. “We have been waiting expecting their call since the attack on Saturday but we have not heard from them,” he said.

TUESDAY JUNE 21, 2022 ˾ T H I S D AY

NEWS

Foiled Robbery: Police Arrest Bank Staff, Four Others in Ibadan Kemi Olaitan in Ibadan The Police in Oyo State yesterday said they foiled what could have been a bloody bank robbery in Ibadan, the state capital. The robbery allegedly planned against a new generation bank was to be executed last Tuesday but for the disruption by the security operatives. The prompt effort of the Police resulted in the arrest of five members of the robbery gang. The state Police Public Relations Officer (PPRO), Adewale Osifeso, a Superintendent of Police, who confirmed the development in a statement, said the officers acted on intelligence, stating that the effort led to the identification, tracking and arrest of the robbery suspects who specialized in carrying out well-coordinated robbery attacks on banks. According to him, the suspects which included a 29-year-old contract staff/marketer of a new generation bank, Mayowa Kehinde, were arrested at their Agara Odo-Ona hideout along Akala Expressway, Ibadan, on June 13, at about 9 pm after concluding plans to execute the

bank robbery attack on another new generation bank within the metropolis at the early hours of Tuesday, June 14. He gave the names of other arrested members of the gang to include, Abass Azeez ‘m’

42years; Rildwan Eniola ‘m’ 33years; Mistura Akinade ‘f’ 33years, Abass Aderoju ‘m’ 41years and Akeem Adeniyi ‘m’ 37years. The Oyo Command Police spokesperson also said

all the suspects confessed their various involvements in the foiled criminal operation which include arms procurement and clandestine intelligence gathering ahead of the proposed date of

perpetrating the dastardly act. The statement read in part: “In a conscious effort to rid Oyo State of unscrupulous and sinister minded elements, the Oyo State Police Command in

an intelligence led and purposeful driven operation has identified, tracked and apprehended members of a criminal gang specialized in carrying out well-coordinated robbery attacks on banks.

COURTESY VISIT TO ICAN……

L-R: Regional Vice President, Chartered Institute of Management Accountants, (CIMA), Africa, Tariro Mutizwa; Associate Director, CIMA, Nigeria, Ijeoma Anadozie; past President, Institute of Chartered Accountants of Nigeria (ICAN), Kabir Muhammad; President of CIMA, United Kingdom, Paul Ash; past President, ICAN, Abdul Owoyemi; President of ICAN, Tijjani Isa, and the Registrar/Chief Executive, ICAN, Ahmad Kumshe, during a courtesy visit of the CIMA team to ICAN in Lagos...recently

People with Disabilities Tinubu’s Visit: Sanwo-Olu Orders Call for Inclusiveness Probe of Attack on Journalists’ Bus People living with disabilities have called for inclusiveness in all spheres of life, for them to have a sense of belonging. The call was made by the Kwara Women Leader for Joint National Association of People with Disabilities (JONAPED), Mrs Joy Bolarin, in an interview with the News Agency of Nigeria (NAN) in Ilorin yesterday. She said people with disabilities could use their talents to contribute meaningfully to the society, adding that “our disability doesn’t mean liability. “We can be what we want to be if given an enabling environment to thrive by

using our talents to contribute meaningfully to the society. “The way we can be given a voice is through inclusiveness. Any activity or programme in the society, people with disabilities should be included. “We should be given a voice so that whenever decisions are taken, we will be able to give our inputs. “We should be given equal opportunities in education, marriage, job opportunities and leadership; we need representation everywhere. “We should be allowed to speak because he who wears the shoe, knows where it pinches.”

Igboho, Others Advised to Have a Rethink on O’odua Nation

The Yoruba Council Worldwide has said it is important for Chief Sunday Adeyemo a.k.a. Igboho, and other promoters of a separate country known as Oduduwa nation to rethink their clamour for self-determination. President of the Council, Aare Omoluabi Oladotun Hassan, who made the appeal at a briefing in Abuja yesterday , also asked President Muhammadu Buhari to convoke national dialogue, as a matter of urgency, to address all internal conflicts before the 2023 general election.

He said: “We advise our brother, Chief Sunday Igboho, and all other leaders across board to step down their agitations for a separate country in order not to overheat the polity ahead of the 2023 general elections. We should not be misled to throw away the baby with the bath water. “Our appeal is for the president to, as a matter of national importance, take up the responsibility to call for a national peace talk to address all internal conflicts in the country.

2023: Pull-Up Naija Urges Youths to Participate in Election Rebecca Ejifoma A non-governmental organisation, Pull-Up Naija Group, has mobilized the youth across the country to get their permanent voters’ cards (PVCs) and actively participate in the forthcoming elections for better leadership. Held at Freedom Park in Lagos Island, the group in synergy with the Independent National Electoral Commission (INEC), got participants to secure their PVCs during the

launch of the platform. While educating the youth including the performing artistes on making the right choice this time, veteran actor, Ronke Oshodi charged them to sit up.“We have to sit and think very well before we vote. If you don’t think very well, we’ll suffer for eight years,” she said. The poåpular in Nollywood Yoruba reminded everyone that leaders across the country today complete eight years in office before handing over.

Segun James

Lagos State Governor Babajide Sanwo-Olu has ordered an immediate investigation into the attack on a bus conveying journalists covering the arrival of All Progressives Congress (APC) presidential candidate, Senator Bola Ahmed Tinubu to Lagos on Sunday. The governor gave the order when he paid an unscheduled visit to the Bagauda Kalto Press Centre in Alausa, Ikeja

to show his compassion over the unfortunate incident. Sanwo-Olu, who was in the company with his Chief of Staff, Mr. Tayo Ayinde and some members of his cabinet, expressed sadness over the incident, saying it was a big shock for such a deadly attack perpetrated on journalists to have taken place. A statement signed by the State Commissioner for Information and Strategy, Mr. Gbenga Omotoso, said that

Sanwo-Olu has directed that those involved in the dastardly must be fished out and brought to book, even as he said that the government would pick up the hospital bills of those injured in the incident. “Lagos State Government condemns the incident. We hold the media in high esteem and the government has always ensured that they have a conducive environment to perform their duties. Nobody or group will be allowed to

destroy our cordial relationship with the media. Lagos has no room for hooligans,” he said. Tragedy was averted on Sunday as Sanwo-Olu’s press crew was attacked by the hoodlum who were armed with machetes and stones which they hauled at the bus. The attack was carried out by thugs between Ebute- Ero and Adeniji, Iga- Iduganran axis on Lagos Island, leaving some journalists seriously wounded.

My Sister was Treated Like an Animal by Her Husband, Osinachi’s Sister Alleges

The sister of the late gospel singer, Osinachi, Favour Madu, yesterday told a Federal Capital Territory High Court, that her sister was treated like an animal by her husband, Peter Nwachukwu. Madu, 44, a data processing officer with the National Human Rights Commission (NHRC), Enugu, testified as a second witness for prosecution in the alleged culpable homicide case brought against Nwachukwu by the Attorney-general’s office.

When Madu was asked by the prosecution counsel, Aderonke Imana what happened that she wanted justice, she said: “Her husband never treated her well. He treated her like an animal, beats her anyhow, never made her happy and never allowed her to associate with her family. Madu in addition also told the court that her sister got married in 2008 and had four children. She said the oldest was 12 while the last girl was 7.

The witness further stated that, they referred to Nwachukwu as ‘Manager’ because he had control of everything including her money, and the fear she had of him, made her not to relate well with her family. ” There was a time she went for ministration and when she asked for stage fee, she was told that N2 million had been paid into her husband’s account. ”He was responsible for booking events, collect money

and only tells her to go and minister without giving pocket money. “When my father was ill, he wanted to come to Abuja for treatment but the defendant refused and he eventually died. ”While traveling for our father’s burial, the defendant slapped her because she complained of how rough he was driving. “My sister developed ulcer as a result of starvation because Nwachukwu never provided for his family.

Remember God’s Judgment, Retiring Judge Charges Serving Colleagues Segun Awofadeji in Gombe A retiring Federal High Court Judge, Justice Musa Haruna Kurya, has reminded serving judges and lawyers that they will one day give account of their service before the Judge of all Judges. He gave the admonition during a valedictory court session held in his honour at the Federal High Court, Gombe.

Quoting from the Holy Bible, where a valedictory message by Prophet Samuel declared his faithfulness and sincerity in his service as the judge for the children of Israel for 40 years which ended without blemish, Justice Kurya said his guiding principle during his years in service had been the fear of dying and facing God, to give an account of his stewardship in the judiciary.

Taking Prophet Samuel’s quote from the Holy Bible, Justice Kurya said: “I have become a judge over you for the past 40 years, Oh Israel, if there is anyone that I have collected his goat, I have collected his sheep, I have collected his donkey, let that person complain now so that I will pay him.” Justice Kurya therefore, prayed that the serving judges would equally end with praises of clean

record in their credit. Chief Judge of the Federal High Court, Justice John Tehemba Tsoho, who was represented by Justice Binta Nyako, congratulated Justice Kurya for gracefully retiring from active judicial service, despite turbulent times associated with the job. She described him as a complete gentleman who is well known for his profound friendly, quiet but revered life style.

Kidnapping: Police Arrest 87 Suspects, Rescue 20 Victims in Adamawa The Police have arrested 87 suspected kidnappers and rescued 20 victims in Adamawa in the past three months. The Commissioner of Police, Mr Sikiru Akande disclosed this at a news conference yesterday in Yola. He said operatives of the Command arrested the suspects

during various operations at different locations from March to date He said the ring leader of the syndicate along side 12 others had been apprehended in connection with different crimes such as kidnapping and illegal possession of fire arms, among others.

The police, he said, recovered one AK47 Rifle, two locally double barrel pistols, two Dane guns, 24 rounds of AK47 live ammunitions, one leg chain as well as key and pad lock. Other items recovered included military uniforms, three motorcycles and N358,500. The CP lauded Gov. Ahmadu

Fintiri, community leaders, hunters and residents of the state for their support to the police. While reiterating commitment of the Command to protect lives and property, Akande urged the people to provide credible information to the police that would promote peace and security.

TUESDAY JUNE 21, 2022 ˾ T H I S D AY

NEWSXTRA

Gunmen Abduct Village Head, Son in Bauchi, Kidnapper Killed in Edo Gunmen have abducted the village head of Zira, Yahaya Saleh, and his son, Habibu Saleh, in Toro Local Government Area of Bauchi State. The abduction of the village head was confirmed by the Bauchi State Police Public Relations Officer, Ahmed Wakili. However, In Edo State, Police said Police in Edo State killed a suspected kidnapper during an exchange of fire along the Benin-Lagos Expressway. The Bauchi State PPRO explained that the gunmen attacked Zira village which shares a border with Plateau State on Saturday night and carried out the act. Wakili added that the Commissioner of Police in the state, Umar Sanda, has dispatched a team of detectives and other operatives to the area while the Divisional Police Officer (DPO) has since been directed to begin the search and rescue of abductees. He said: “Presently, our men are combing the bush in search of abductees and residents should be assured that the victims will be rescued alive.” The command is also appealing to residents to provide the police with useful information and urged the public to remain

calm. Saturday’s attack has further heightened tension in the area. Residents are troubled by the increasing spate of kidnappings in Toro and they are calling on the authorities to take appropriate measures to curb the spread.

The latest abduction is coming five days after bandits killed four people and injured three others in Alkaleri Local Government Area. Meanwhile, in Edo State, Police said they killed a suspected kidnapper during

an exchange of fire with the police along the Benin-Lagos Expressway. According to a news bulletin by Edo Police Public Relations Officer, (PPRO), Chidi Nwabuzor, the incident occurred at Utekon Community, Benin City axis of

the expressway. According to the PPRO, other members of the criminal gang escaped with their weapons, adding that bush combing operation had commenced to apprehend the fleeing members. The statement reads: “On

20/06/2022 at About 0400Hrs, the operatives of Egba Police Divisional Headquarters, Benin City while acting on a distressed call, that a gang of kidnappers/ armed robbers blocked BeninLagos Expressway By Utekon Community, Benin City.

SUPPORTING SMALL BUSINESSES……

L-R: Director, Marketing Communications, 9mobile, Saidat Lawal-Mohammed; Facilitator, Tricia Olufemi-Olumide; Director of Strategy, 9mobile, Karn Gulati, and Lead, Public Relations, 9mobile, Chineze Amanfo, at The Hack, a networking and business mentorship programme organised by 9mobile for Small and medium enterprises in Lagos....yesterday SUNDAY ADIGUN

Military Personnel Kills Wealthy Nigerians Urged to Strive for Selfless Public Service at the 10th year memorial into question. it strong enough to follow an Ogundare and Ugo Fuel Attendant in Niger Funmi lecture of HRM Oba Oladele “There can be no doubt inner voice in the direction of Aliogo A military personnel has shot to death a fuel attendant of AYM Shafa filling station along Bosso road of Chanchaga Local Government Area in Minna, Niger State. According to reports, the incident occurred around 1:30 pm yesterday when crisis erupted between the military official who came into the station with a Hilux vehicle to buy fuel after the attendant had stopped selling. It was gathered that Yusuf Sa’ad, the fuel attendant who was killed, confronted the military officers when their manager was being harassed to give them fuel from their military reserve. It was revealed that the

deceased attempted to stop one of the military personnel for harassing the manager hence he was shot and was confirmed dead before reaching the general hospital, Minna. A fuel attendant in the station Aliyu Umar confirmed the incident to Channels Television. When contacted, the Niger State Police Public Relations Officer, DSP Wasiu Abiodun, confirmed the incident on telephone and said investigation into the unfortunate incident has commenced while tactical teams have been deployed to the area to ensure normalcy.

The Founder and Chairman of FATE Foundation, Mr. Fola Adeola, yesterday tasked wellmeaning Nigerians to strive to render public service to the society in order to make the country better. Adeola was the guest lecturer

Olashore, titled, “Public Service as the Best Form of Service: The Example of Oba Oladele Olashore.” According to him, “there certainly is no dearth of need in our society. To deny this, is to be so disturbingly detached that our humanity must be called

either, there is capacity in our midst. “Between our human capabilities and the pockets of affluence, even amidst the staggering poverty in our society, surely, capacities exits. The question for all of us, therefore, is, is there the will and how strong is that will? Is

an identified need? Is it strong enough to lead, where no clear solution currently exists?” He said that public service is for all who have the means, the sincerity of purpose and grace to truly commit themselves to a path to immortality that death has no power to erode.

Women Lawyers Seek Special Court for Gender Related Cases Victor Ogunje in Ado Ekiti International Federation of Women Lawyers (FIDA) has appealed to the Chief Judge of Ekiti State, Justice John Adeyeye, to establish a special court to handle gender related cases. FIDA made the request yesterday while paying courtesy visit to the state Chief Judge in his office in Ado Ekiti.

Addressing the Chief Judge, Ekiti State FIDA Chairperson, Mrs. Oyinade Olatunbosun, said: “We humbly request for the establishment of a special court to attend to gender-based issues. “This request is as stipulated by Section 370 of the Genderbased Violence Prohibition Law of Ekiti State as amended.” She congratulated the Chief

Judge for his giant strides aimed at shooting the state judiciary to limelight, especially the remote court hearing recently put to test, saying that further affirmed the readiness of the Jurist to fortify the temple of justice. The FIDA boss added: “This type of visit became necessary to introduce the current executives of the organisation who assumed office in December 2021 to the

Chief Judge and to discuss with him some of the challenges facing FIDA. “We have the challenges of funds in paying filing fees in courts, as all cases ranging from matrimonial issues, child abuse, rape, defilement, genderbased violence among others were being handled pro bono in all courts up to the Appeal Court level.”

Democratic Party (PDP), Oyo State chapter, the Oyo PDPVisionaries, has described a report in which some loyalists of the deputy governor, Rauf Olaniyan, blamed Governor Seyi Makinde for not developing Oorelope Local Government, Igboho, as baseless and self-serving.

contrary to the false narrative being pushed by Olaniyan and his sympathisers, Governor Makinde’s developmental strides has no left no area untouched, with the administration recording many achievements in Oorelope Local Government and other council areas in Oke Ogun.

group, Qudus Olayide, in a statement yesterday said despite the disloyalty, inordinate ambition and self-conceited tendencies demonstrated by the deputy governor, it was untrue that the Makinde administration neglected Oorelope Local Government.

though the deputy governor deliberately deprived his council of greater development as a result of his pettiness and obsession with disparaging the governor, the Governor Makinde-led administration made huge marks on Oorelope LG like all others across the state.

‘Christians Should Obtain their Didn’t Neglect Your LG, PDP Group Tells Oyo Deputy Gov PVCs, Vote in All Elections’ AMakinde group within the Peoples According to the group, The Lead Visioner of the The statement added that

Laleye Dipo in Minna

The immediate past Chairman of the Niger State chapter of the Christian Association of Nigeria (CAN), Reverend Mathias Echioda, has tasked Nigerian Christians to ensure they obtain their Permanent Voters Card (PVCs) and also cast their ballots for candidates of the political party of their choice in all next general election. Echioda gave the admonition in Minna, the state capital, last Sunday while exchanging views with journalists after delivering the sermon at the Special Service organised by the Cherubim and Seraphim Movement Church headquarters to mark this year Father’s Day celebration. Echioda said Christians should stop the idea of showing nonchalant attitude to elections, but only to complain of bad governance

later. According to him, “Your PVC is the power to install any type of government you want, because without the PVC, you cannot vote.” The clergyman argued that Christianity does not stop adherents of the religion from either participating in politics or voting, saying the only thing is that Christians should not partake in doing unreligious and illegal things. The former CAN chairman also spoke against the rise in youth restiveness in some parts of Minna, and called on the state government to nip the trend in the bud before it escalates. According to him, “Youth gangs now take control of parts of Minna on a daily basis, wreaking havoc and threatening the lives of innocent members of the public,” saying the time to put the issue under check is now.

You Can’t Succeed without Campaigning, Says Rivers Accord Party Blessing Ibunge in Port Harcourt

The Governorship Candidate of the Accord Party (AP) in Rivers State, Mr. Dumo Lulu-Briggs, has insisted that no gubernatorial candidate in the state could win the seat

without effective campaign. The oil mogul, who spoke in Port Harcourt yesterday during interaction with representatives of the business community and professional bodies in the state, stated that to become the next governor of Rivers a candidate

must be talking in order to get things right. Lulu-Briggs stressed that the success of previous administrations in the 1990s was because the leaders engaged the people and related their programmes and policies.

Lulu-Briggs said: “The governor must be an engaging governor. He will engage with Rivers indigenes for them to know where they are and their feelings. Programmes of government will be communicated to the people. Transparency shall be the watchword.

Kasim Afegbua Quits PDP for Abandoning Zoning Emameh Gabriel in Abuja Former Edo Commissioner for Information, Kasim Afegbua, yesterday resigned his membership from the opposition Peoples Democratic Party (PDP).

Afegbua, who was one of the staunch advocates of power rotation in the PDP, said he left the PDP due to what he described as hypocritical and manipulative process that produced Atiku Abubakar and his running mate, Governor

Ifeanyi Okowa of Delta State, as standard-bearers of the party for the 2023 presidential election. In a letter addressed to the chairman of his ward, titled: ‘Resignation from the Peoples’ Democratic Party, Afegbua disclosed that he has ceased

to be a member of the party consequent upon his resignation. The letter read in part: “Let me use this medium to convey to you, my resignation from being a member of the Peoples’ Democratic Party, Ward 5, Awuyemi, Okpella.

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NFF Election: FG Warns Against Tenure Elongation Duro Ikhazuagbe With the tenure of the current board of the Nigeria Football Federation (NFF) expected to terminate in September, the Federal Government has directed the leadership of the federation to ensure that elective congress holds in line with its statute. Until yesterday, there have been speculations in football circles in the country that the elections may not hold in September due to a pending matter in a Federal High Court in Yenagoa, Bayelsa State. But in a letter addressed to the NFF President, Amaju Pinnick and the board of the

federation by Sports Minister, Chief Sunday Dare, said President Muhammadu Buhari has directed the NFF to immediately commence the process that will lead to holding new elections into its Executive Committee at the expiration of the current administration in September. President Buhari also directed that the instrument of football administration in the country, the NFF Statutes be amended to include other stakeholders, who had hitherto been disenfranchised, or denied equal representation in the Federation’s congress. The letter reinforced the Federal Government's support for football development in the

country, urging the leadership of the NFF to ensure that the amended statute reflects national yearnings, aspirations and peculiarities of Nigeria as a sovereign nation whilst aligning with the principles and objectives of football as set by the world soccer governing body, FIFA. In what is generally seen as moves to ensure that the congress holds in September, a group which described itself as Concerned Congress Members of the Nigeria Football Federation and the Professional Football Players Association of Nigeria PFAN/ Project 2022 Task Force met yesterday at the Reno Hotel in Abuja to deliberate on how to

vacate the Suit No. FHC/YNG/ CS/133/2021 filed Seigha Obiene. Obiene had in the suit insisted that five members of the Congress that participated in the NFF elections in Katsina that gave Amaju Pinnick a second tenure in office as President in 2018 did so illegally and so the result of that election be declared null and void. In the unsigned Communique issued after the meeting in Abuja, the Concerned Congress Members and the players union, revealed that the plaintiff has agreed to withdraw the suit from court to pave way for the elective congress in September. It however gave as part of the

conditions to withdraw the suit, the leadership of the federation must immediately convene the emergency General Assembly of the NFF. “The AGA in which the Congress will discuss the way forward for Nigeria football in compliance with the statutes and for the sake of the good order.” Just last weekend, the NFF was ordered by the government to expand its statute to accommodate more members. 28 states FA chairmen had sent notice to the NFF secretariat asking it to vacate the ex-parte order stopping the federation from holding the congress in September.

Amaju Pinnick...NFF President

Nigeria Customs Crowned Winners of 2022 Mark D’Ball Men's Championship Nigeria Customs on Sunday night emerged the champions of the 2022 Mark D’Ball Men's Basketball Tournament, after inflicting a 61-55 defeat on new Abuja franchaise Mo Heat. The Border men strolled to the Title in the final of the Elite 8 Tournament played at the Indoor Sports Hall of the MKO Abiola National Stadium in Abuja. D'Tigers player, Ibe Agu, who captained Customs, contributed 17 points, two fewer than his team mate Michael Daramola whose 19 points were matched by Mo Heat's top scorer, Bright Akhuetie. Owen Michael shot 13 points for the Mo Heat who literarily lost their way in the last quarter. Going into the finalé watched by a capacity crowd and graced by eminent personalities, Mo Heat were unbeaten and were favourites to take the title, having already

edged the Customs side in the build of to the final. The first quarter ended 15-15, with both teams fighting hard in the second quarter and even at the end of the 3rd quarter, it was still a tight game at 47 baskets apiece. Nigeria Customs however started the last quarter with more zeal and purpose and pulled away despite a late challenge mounted by Mo Heats to win the final by clear six points. The victory ensured that they emulated their ladies’ folks, who also won the women's tournament played towards the end of 2021. The defeat was for Mo Heat, their very first and only crash in the 32-team tournament. Kanyinsola Odufuwa was top scorer with 25 points while Wisdom Anyaoha had 17 dunks with Gombe Bulls winning the Third Placed game that preceded

N’Forest Target Awoniyi with £17.5m Club Transfer Record Femi Solaja with agency report Super Eagles’ fringe player and Union Berlin forward, Taiwo Awoniyi, could be heading back to English Premiership, following the interests from newly promoted Nottingham Forest. The new Premier League club, according to UK’sDaily Mailyesterday, reported that they are closing in on the club-record signing of Awoniyi from the significant transfer funds earmarked for this summer. Awoniyi, who was part of Super Eagles’ second round exit at the last AFCON tournament in Cameroon had scored 15 goals to help Union Berlin punch above their weight in the Bundesliga last season and is thought to have set his heart on a move to the Premier League, despite interest from RB Leipzig. He is expected to cost about £17.5million. Awoniyi, 24, joined Liverpool in 2015 and had loan spells at six different clubs without making the breakthrough at Anfield. There have been suggestions that Liverpool are entitled to a percentage of any transfer fee, as part of his move to Union for nearly £6m last summer. Forest are thought to have at least £70m available to strengthen the squad this summer to help Steve Cooper establish them in the top flight, as they prepare to compete in the Premier League for the first

time this century. They are still haggling with another Bundesliga club, Mainz, over the price for Moussa Niakhate, with Mainz chasing at least £13million for the defender. Forest are looking at other reinforcements in defence and are thought to have registered an interest in Argentina international Nicolas Tagliafico, who is set to leave Ajax this summer. Tagliafico, 29, has two years left on his contract in Holland. With the future of Brice Samba unclear – the French goalkeeper is wanted by Lens – Forest have also registered an interest in Dean Henderson, who is available on loan from Manchester United.

Taiwo Awoniyi...Nottingham Forest almost a done deal

the final. They won by beating Kano Pillars 67-62 to take the bronze medal and N1 million prize money. The Bulls had also prevailed 63-57 against the Sai Masu Gida when both sides met earlier in the final 8. Their undoing was over-relying on veteran captain, Abubakar Usman whose 14 points and 2 assists fell short of unsettling the Bulls from Gombe. Bulls triumphed despite not having their head coach on the bench. The Winners, Nigeria Customs got a N2 million cheque as top Prize Money while the losing finalist, Mo Heat, received N1.5 million. Meanwhile, Senator Dino Melaye donated additional N300,000 to the winners with the runners up also smiling home with N200,000 from the former Kogi State lawmaker. Melaye rated the championships as topnotch and the best basketball competition in Sub-Sahara Africa. The other four teams that contested for honours in the final-8 include; HotCoal Ballers of Abuja, FCT HardRockers, Kwara Falcons of Ilorin and Delta Force of Asaba.

Initiator of the Mark D’ Ball Championships and factional President of NBBF, Igoche Mark (right), presenting the winners trophy to Nigeria Customs at the end of the Final of the Elite 8 tournament in Abuja...on Sunday night

2022 MILO Secondary Schools’ Basketball Finals Holds June 30 Kunle Adewale The final games of the 2022 MILO Secondary Schools’ Basketball Championships in both the girls and boys’ categories have been slated for June 30, at the Indoor Sports Hall of the National Stadium in Surulere, Lagos. This was made known yesterday at the Nestlé corporate office, at Ilupeju in which the draw to determine the pattern of play at the finals also held. Twelve teams will play in the finals: six each in the male and female categories. The finalists include Government Secondary School, Numan, Adamawa State; Akpur College, Gboko, Benue State; St. Jude’s Girls Secondary School, Amarata, Bayelsa State; David Hall College, Obalende, Ikoyi, Lagos State; Government Girls Secondary School, Bukavu, Kano State; and Queen Amina College, Sabon-Tasha, Kaduna State in the girls’ category. In the boy’s category are Dutse Model International Secondary School, Jigawa State; Government Secondary School, Karu, FCT; King Amachree Academy, Port

Harcourt, Rivers State; Topfield College, Ajegunle, Apapa, Lagos; Victorroti Private Secondary School, Idi-Aba, Abeokuta, Ogun State and Bishop Dimieari Grammar School, Obom, Bayelsa State. The Championship started this year with over 10,000 teams participating at the state preliminaries. The winners from the first stage went on to the Regional Conference stage where the finalists who will play in the national finale emerged.

The Managing Director and Chief Executive Officer of Nestlé Nigeria PLC, Mr. Wassim El-Husseini said: “For over two decades now, Nestlé has been at the forefront of grassroots sports development in Nigeria through the Nestlé MILO Secondary Schools’ Basketball Championship. We continue to do our utmost to help shape a healthier and happier generation of Nigerians by encouraging them to participate in

sporting activities. MILO Basketball Championship also provides a platform to help children imbibe values that set the right foundation for their future. They learn grit - perseverance through hardship, courage to overcome fear, ability to work in a team, self-belief, respect, and leadership.” The draws grouped the six teams in the girls and boys’ categories each into groups ‘A’ and ‘B’.

Eto'o Pleads Guilty to Tax Fraud to Avoid Prison Former Cameroon football star Samuel Eto'o has struck a deal with Spanish prosecutors to avoid going to jail for tax fraud he committed while playing for Barcelona, a court in the city announced yesterday. Eto'o, who played for Barcelona from 2004 to 2009, received a fine and a 22-month suspended sentence but will not serve any time, as is customary in Spain for prison terms of under two years for non-violent crimes. Reports in Spain claim Eto'o, 41, will pay a fine of 1.8 million euros ($1.9 million). The record four-time African

footballer of the year and Jose Maria Mesalles -- his former representative, who for his part was sentenced to 12 months and a fine -- must reimburse Spanish tax authorities for the amount defrauded, around 3.9 million euros. Prosecutors accused Eto'o of failing to declare income from the transfer of image rights between 2006 and 2009. According to them, Eto'o transferred his image rights to a company based in Hungary which declared his earnings in that country, where the tax rate is one of the "lowest in Europe".

A second Spanish company declared them in Spain at the corporate tax rate, less than the income tax that should have been paid. Eto'o was the "real holder of the image rights", maintained the prosecution, according to whom the transfer was fraudulent and only designed to pay less tax. Eto'o, who last year was elected head of the Cameroonian football federation, is one of a number of football stars to have a run-in with Spanish tax authorities, following the likes of Cristiano Ronaldo, Lionel Messi and Neymar.

Tuesday, June 21, 2022

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Ayo Teriba to FG

“Nigeria should issue debt based on assets. Tax is not a viable way forward in an economy where recession, COVID-19 and devaluation have ruined people’s income base. Other countries are giving tax holidays right now. Many other countries are even borrowing to pay subsidies. When other countries are subsidizing their people, we cannot tax our people” --- CEO of Economic Associates, Ayo Teriba, faulting FG’s plan to borrow to fund its recurrent expenditure.

TUESDAY WITH REUBENABATI abati1990@gmail.com

Rebellion At the Apex Court “W

ahala be like bicycle” is an expression that most people familiar with Nigerian street lingo would easily identify with. It refers the unusual, the dramatic, a shocking development in the course of normal business. “Wahala” is actually a Hausa word, in terms of its linguistic origin, since incorporated into the normal run of Nigerian expressions. The phrase has also since been turned into music by UZBOI featuring TEESWAG (January 2021). It would one day get into the Oxford Dictionary of Modern English. This is of course not the same thing as that recent bicycle event of 79-year-old US President Joe Biden getting his feet hooked in the pedal of his bicycle in Delaware, and falling down. Biden stood up and did some small jumping up and down to show that all was well and his doctors confirmed same to be true. The “Wahala” that this piece discusses is of a problematic kind: enormous “walaha” and crisis in the Supreme Court of the Federal Republic of Nigeria. The Supreme Court, here or elsewhere is the apex court of the land. It is, in defining its character, not an infallible court, but it is final because its decisions are final; per Oputa JSC in Adegoke Motors vs Adesanya (1989). The only recourse beyond the Supreme Court is God, not even the West African Court of Appeal can overturn this apex court. Only the Supreme Court can rehearse its own decisions and reverse itself. Its word, so to speak, is law. It is indeed for this reason that the Justices of the Supreme Court and the entire judiciary, deriving their locus and powers under Section 6 of the 1999 Nigerian Constitution, and the doctrine of the separation of powers as articulated for eternal relevance and coherence by Baron de Montesquieu in 1748, constitute a major pillar of the balance of powers in society and the protection of the rule of law. It is not for nothing that the Supreme Court has been celebrated as the last hope of the common man, that final temple of justice where the law lords define the law, give the law and interpret the law to modulate and to ensure social justice. Years ago, I had the great pleasure of writing a long Man-of-the-Year-Essay in The Guardian newspaper of Nigeria, in which the Editorial Board of the newspaper chose the Nigerian judiciary as the most impactful defender of the people’s rights and the rule of law. It was my job to write the essay. I waxed lyrical. It is therefore sad that the same Nigerian judiciary is now being spoken about by the same Nigerians and the same country that once looked up to it, as a victim of the proverbial Nigerian factor, a shadow of its former self, and at best a parody. The condition of the Supreme Court today, is particularly pathetic. The kind of abuse, humiliation and ridicule that the Nigerian courts have been subjected to, especially the Supreme Court of Nigeria and its justices, has very few precedents elsewhere, except may be notably, India and Pakistan. A compromised judicial system and a divided, disoriented Supreme Court is of no use to the advancement of the rule of law or the democratic process. The judex are expected to be above board and to be impartial unto death. Their code of conduct forbids them from jumping into the arena of partisan politics. They are required to be independent, utterly without bias and guided strictly by the law, and their oath of office to interpret the law and deliver justice without fear or favour. With regard to these principles and their value in Nigeria, there is cause for worry. And it is indicated in the following shape. Yesterday, 14 Justices of the Supreme Court of Nigeria, wrote a letter now in circulation, and addressed to their boss, the Chief Justice of Nigeria, Tanko Abdullahi (CJN), titled: “The State of Affairs in the Supreme Court of Nigeria and Demand by Justices of the Court.” It is a blistering, sucker-punch, indictment of the sitting CJN. It is important to reproduce some of the stated concerns. Their Lordships, 14 of

Chief Justice of Nigeria, Ibrahim Tanko Muhammad them, wrote as follows: “My Lord The Honourable Justice of Nigeria, we, the Justices of the Supreme Court of Nigeria, carefully reviewed the state of affairs in this Court, and unanimously resolved to write formally and draw the attention of Your Lordship to our demands. As a Preamble, let it be clearly understood that the resolution to write Your Lordship was reached with sense of responsibility. We are serving this country diligently and to the best of our ability. We resolve disputes between the Executive and the Legislature including all manner of disagreements, between governments and individuals. We are responsible citizens of this country. It would be a tragedy if the Nigerian public were to know that we are unable to resolve our problems internally without going public. The decision to write you formally must be seen by Your Lordship as an effort on our part to preserve the dignity of the Judiciary and the respect accorded to us by Governments and the people of Nigeria. God forbid the day that our internal issues become a matter of National discourse.” My take: Sorry, Mi’Lords, that day has passed. The rot in the Nigerian judiciary has since been a matter of enduring concern. The harassment of judges by the Economic and Financial Crimes Commission (EFCC), the abuse of ex parte applications by judges and lawyers, the blatant violation of rules of procedure and practice directions, and the utter disrespect for the Bench by both lawyers and litigants, with spoken and unspoken allegations of corruption, compromise and sheer abuse had served the signal that all has not been well with the Nigerian judiciary. Now that there is turmoil even at the level of the Apex Court, the country’s court of last resort, there is cause for anxiety, if not outrage. Their Lordships talk about not going public, again sorry, the matter is now public and it is a proper subject for national discourse. Whoever leaked the letter to the CJN for public consumption and attention has done so intentionally. It is however, good that we are allowed to know that the Supreme Court of the land has internal problems. Really?: The CJN has completely ignored the report to that effect since March 24? Justices of the Supreme Court claim further, that they have no access to the internet. They also do not have enough complement of vehicles, and even the ones that they have are “either refurbished or substandard”. Justices cannot go for trainings either but the CJN travels with his own “spouse, children and personal staff.”

They even suggest corruption: “We demand to know what has become of our training funds, have they been diverted, or is it a plain denial? Your Lordship may also remember that the National Assembly has increased the budgetary allocation of the Judiciary. We find it strange that in spite of the upward review of our budgetary allocation, the Court cannot cater for our legitimate entitlements. This is unacceptable!” I cringed reading the foregoing lines. But the letter is even far more damning with serious additional complaints about lack of medical care for judges, decadence of the courts, and “the implication that this arm of Government is potentially shut down”. The other day, magistrates in Cross Rivers State carried placards and went to the streets in protest. The emerging Supreme Court debacle is very much after the same fashion. What exactly is left of the rule of law and the justice administration system if justices of the land’s apex court begin to carry placards about their conditions of service? I have searched in vain so far for a denial of the contents of the letter in question, to protect myself, from the error of contempt ex facie curiae involving the apex court of the land, but I have not seen any statement by any of learned Justices disowning the damning statement that has been in the public domain so far. What rings in my head, and is beginning to give me headache, is their threat to the CJN: “It is either you quickly and swiftly take responsibility and address these burning issues or we will be compelled to (take) further steps immediately. May this day never come.” What further steps? Would the Justices of the Supreme Court of Nigeria stop sitting? That indeed would be the day! The fact that a statement such as the one above, hat I have quoted in extenso regarding the Supreme Court in Nigeria, is in circulation is an indication of the rot within the Nigerian system. It simply means that no section of Nigeria is immune from violation. Nigeria, it is commonly said happens to people, classic euphemism for failure and collapse. If Nigeria happens to the common man’s last bastion of hope, routinely identified as the Supreme Court, then everything is lost. A deprived Supreme Court and judiciary as described can of course, be easily compromised. In an election season, that would be a prescription for anarchy. Those who condemn the Nigerian judiciary already observe for example, that basic civil cases are piling up at the Supreme Court while political cases are treated with the speed of light! This is all things considered, a sad development. There are critics of the Nigerian judiciary who consistently posit that the golden days of the Nigerian Supreme Court are long gone. Shockingly, it has been more than 30 years since the Supreme Court of Nigeria was considered golden. Once upon a time in this same country, and notably, under military rule, this was the same Court on which Bench sat legends of the law like Kayode Eso, Chukwudifu Oputa, Andrews Otutu Obaseki, Ayo Irikefe, Chukwuenike Idigbe, Augustine Nnamani, Mohammed Bello, Adolphus Karibi-Whyte, Ephraim Akpata, Bola Babalakin, Anthony Aniagolu and others. On both the Supreme and Appellate Courts, these justices gave Nigeria an image of the role of the law as an instrument for nation-building. For more than a decade they spoke the law to power. They were fearless, independent, firm and robustly intelligent. They were leaders of an incorruptible court, dramatized for posterity in D. Olu Adegoke’s play, The Incorruptible Judge (Evans Publishers, 1962). The men we remember were first class jurists, with background in law and the humanities – Classics, Philosophy, Literature. Some of them could speak Latin, they could quote Shakespeare, and deploy wit, depth and wisdom in an effortless manner. They used the law as an instrument of value and as a social modulator, for the benefit of humanity. They were judicial activists whose heroism could be seen in the manner in which they stood for the rule of law and against

military and civilian potentates who sought to violate the people’s rights as seen in such cases as Federal Civil Service Commission vs. Laoye; Ojukwu vs. FG; AG Bendel vs AG Federation; AG Ogun State vs. Federation; Garba vs. University of Maiduguri; Gani Fawehinmi vs. NBA. Their story has been told in a more nuanced manner in Professor Itse Sagay’s Book, A Legacy for Posterity: The Works of the Supreme Court, 1980 – 1988. I had a more personal and direct intimation of the heroism of this class of Justices during a conversation recently with Dr. Wale Babalakin, SAN, son of the legendary Justice Bola Babalakin. I was waiting at an elite lounge of the Murtala Muhammed International Airport for a private jet, to take me to Abuja, when Babalakin walked in and asked me if I would join him, since he was leaving immediately. Don’t ask me what a journalist was doing in a private jet lounge. Na today? Nigerians like to abuse and insult journalists, wrongly and stupidly. Some useless people in fact, just recently attacked my colleagues who had gone to cover the arrival of Asiwaju Bola Ahmed Tinubu, Presidential candidate of the ruling party, the APC, from Abuja to Lagos, and I hope those guys will be identified and punished. The whole drama was pointless anyway. Peter Obi, Presidential candidate of the Labour Party went all the way to the Land of the Pharaohs, in far-away Egypt and came back, there was peace, nobody’s skull was cracked. Asiwaju Tinubu went to common Abuja that everyone goes to, and Lagos would not rest. He was the one, not Peter Obi, that brought back a pyramid of chaos. My friend, Gbenga Omotoso, Lagos Commissioner for Information and Strategy says it is all lies. But let me go back: Here was an opportunity, the other day, for me to get to Abuja early, and Babalakin is a good guy, so off I went with him. In the course of our hour-long trip to Abuja, we ended up discussing this and that, and the state of the nation’s judiciary was our main topic, not knowing that there would be a bombshell coming from that direction in a matter of days. He was restrained. He did not want to make comments about serving Justices. But he was ready to talk about his Dad - what he learnt from Justice Bola Babalakin and also from Chief Rotimi Williams, the first Nigerian to become an SAN, the legendary Timi the Law - who for more than five decades dominated the Nigerian litigation landscape like a colossus, and who took him under his wings. It was not yet Father’s Day, which was celebrated only a few days ago, but Babalakin could well have been singing Luther Vandross’s classic song, “Dance with My Father” (2003) before Father’s Day. Justice Bolarinwa Oyegoke Babalakin, JSC, CON, CFR, certainly made a great impression on his son. He spoke about him from Lagos to Abuja. It was a story of responsible leadership at home, in the community, and the country, a man who held his own on all fronts at home and in the outside community, a jurist who remained a shining light and reference point till the end of his life. I could feel the chemistry between father and son, even if one was dead and the other is the inheritor of a distinguished legacy. I thought Wale Babalakin, SAN, sounded like he would love to be like his Dad but the times are different. His Dad, from his own account was a simple, modest man, who shunned the glitter and just wanted to serve humanity. Generations of jurists trooped to Gbongan, a quiet, rural community to drink from the fountain of Justice Babalakin’s wisdom. It is sad that the same supreme Court that he and his contemporaries and immediate successors helped to build into a great institution is now the same place where, if care is not taken, would be dragged ridiculously on social media and trashed unapologetically by politicians who would not allow any cheap opportunity to pass. We need to rescue the Nigerian judiciary from the pedals of “wahala.”

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