THURSDAY 17TH AUGUST 2023

Tinubu Assigns Portfolios to 45 Ministerdesignates Ahead of Monday Swearing-in Edun, Finance; Keyamo, Aviation; Badaru, Defence; Oyetola, Transportation; Bagudu, Budget; Umahi, Works; Wike, FCT Deji Elumoye and Olawale Ajimotokan in Abuja President Bola Tinubu, yesterday,

assigned portfolios to all the 45 minister-designates, whose nominations were recently confirmed by the senate, ahead of their inauguration

on Monday.

The assignment of appointees to their respective ministries marked a departure from the past, when

portfolios were given to ministers on the day of their inauguration.

Nigeria Employers’ Consultative Association (NECA) praised the al-

location of ministries, and identified the positions as largely well suited to the appointees’ abilities and experiences. NECA said the times required

the ministers to settled into their various roles quickly and proceed Continued on page 10

FBN Holdings Announces Otedola as Non-Executive Director... Page 9 Thursday 17 August, 2023 Vol 28. No 10354. Price: N250

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Forex Crisis: We Must Export Else Things Will Not Get Better, Says Obaseki... Page 6

Tinubu, Jonathan, Mark, Ogbeha, Bago, Obaseki, Rejoice with Babangida on 82nd Birthday Deji Elumoye in Abuja and Laleye Dipo in Minna President Bola Tinubu; former

President Goodluck Jonathan; former Senate President, Senator David Mark and former military governor of Akwa Ibom state, Senator Tunde

Ogbeha, have rejoiced with former military President, General Ibrahim Babangida on his 82nd birthday.

In the same vein, Niger State

Governor Alhaji Mohammed Bago and his Edo State counterpart, Godwin Obaseki, also sent words of prayers and commendations to

the man they described as "father of the nation."

In separate statements yesterday, they eulogised the former president.

President Tinubu shared in the joy of celebration with family members, Continued on page 10

NNPCL Gets $3billion Loan from Afreximbank to Stabilise FX, Naira Gains Funds to be released in instalments, repaid with crude oil Petrol prices may fall on increasing dollar liquidity Atiku's aide: Fresh loan dubious attempt to stabilise naira Says govt that detained, vilified Emefiele for taking FX loans to defend naira also going same route Nation’s currency appreciates to N880/$ on parallel market, N759/$1 on I&E window

Chuks Okocha, Emmanuel Addeh in Abuja, Nume Ekeghe and Peter Uzoho in Lagos The Nigerian National Petroleum Company Limited (NNPC) yesterday

announced that it had secured a $3 billion emergency loan from the African Export-Import Bank to stabilise the country’s volatile Continued on page 10

GUSAU URBAN RENEWAL ROAD PROJECT...

Executive Governor of Zamfara State, His Excellency Dr. Dauda Lawal (L) alongside Ronchess Group CEO, Jackson Ukuevo at the Flagoff of Zamfara Urban Renewal Road Project in Gusau... yesterday.

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

POLARIS BANK'S BOARD AND MANAGEMENT'S COURTESY VISIT TO SANWO-OLU...

L-R: Polaris Bank's Managing Director, Adekunle Sonola; Board Chairman, Mr. Mohammed K. Ahmad; Lagos State Governor, Babajide Sanwo-Olu, and his Deputy, Dr. Obafemi Hamzat, when the bank's Board and Executive Management paid a courtesy visit to the Governor at Lagos House, Marina... yesterday

Private Sector Operators Say Rising Inflation Adversely Affecting Manufacturing Sector Blame high inflation rate on government’s policies Dike Onwuamaeze The Manufacturers Association of Nigeria (MAN), the Lagos Chamber of Commerce and Industry (LCCI), the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and the Nigeria Employers’ Consultative Association (NECA), have blamed the prevailing high inflationary pressure in the Nigerian economy on recent government policies.

They stressed that rising inflation was having adverse effects on the manufacturing sector.

They expressed these views yesterday, in separate press statements, following the release of the latest inflation figures by the National Bureau of Statistics (NBS), which showed that the Nigeria’s headline inflation rate accelerated for the seventh consecutive month to 24.08 percent in July 2023, from 21.82 per cent in January.

They also noted that the significant rise in inflation largely reflected the impact of fuel subsidy removal and exchange rate devaluation.

The Director General of MAN, Mr. Segun Ajayi-Kadir, in a statement titled, “Increasing Inflation Rate and Its Impact on the Manufacturing Sector,” noted that, “the current inflationary condition in Nigeria is adversely affecting the operation of the manufacturing sector, just like

most other sectors of the economy.”

Ajayi-Kadir added that “elevated inflation serves as a significant sign of underlying macroeconomic weaknesses, and neglecting to tackle the underlying causes will exacerbate constraints on economic expansion and elevate the unemployment rate within the country.”

He added that, “addressing inflation is a complex and long-term endeavor that requires a coordinated effort from various stakeholders, including the government, central bank, private sector, and civil society.”

Ajayi-Kadir called for the deployment of fiscal reforms “that prioritise productivity and intensify infrastructural development to stimulate economic activity, create jobs and improve living conditions.”

He added that some of the impacts of the rise in inflation on the manufacturing sector included increase in cost of production, reduced profit margin, uncertainty in planning, supply chain disruption, reduction of consumer spending, etc.

He said rising inflation often leads to higher costs of raw materials, labour, and other production inputs that manufacturers might find it more expensive to procure resources necessary for their production processes, thereby squeezing profit margins.

“As costs increase due to inflation, manufacturers might struggle to pass on these cost increases to consumers

in the form of higher prices.

“This will result in reduced profit margins, especially as it is becoming more difficult to pass the burden to the consumers as a result of income squeeze leading to price resistance.

“Inflation introduces a level of uncertainty in economic conditions.

Manufacturers will continue to find it challenging to make long-term business plans due to unpredictable cost fluctuations, demand shifts, and overall economic instability,” he added.

He recommended that the Central

Bank of Nigeria (CBN) should implement effective exchange rate policies that prevent sharp depreciation of the currency, “which has continued to lead to imported inflation.”

He advised that government should tackle insecurity and formulate, “policies that promote a stable and conducive business environment which can attract both local and foreign investments, leading to increased production, job creation, and ultimately, stability in prices.”

Speaking in the same vein, the Director General of LCCI, Dr.

Emmanuel Addeh in Abuja The Nigeria Extractive Industries Transparency Initiative (NEITI) yesterday held a stakeholders’ roundtable for the final approval of the 2021 Industry Oil, Gas and Solid Minerals Reports before their release to the public.

Speaking at the event in Abuja, the Executive Secretary of the organisation, Dr. Ogbonnaya Orji, noted that in the absence of a board, the meeting was to get the nod of other

stakeholders after the independent administrators submitted the documents.

The global Extractive Industries Transparency Initiative (EITI) Standard which provides guidance for NEITI’s operations, requires that the Multi Stakeholders Group (MSG) which oversees the EITI reporting process and implementation in countries approve the industry reports produced before they are released to the public.

Orji recalled that so far, NEITI

Mulls suspension of foreign scholarship The Tertiary Education Trust Fund (TETFund) has said government policies such as the Central Bank of Nigeria’s monetary policies, forex scarcity and inflationary pressure, have created difficulties in the payment of foreign scholarship tuition and stipends.

The Executive Secretary of TETFund, Sonny Echono, disclosed this at a one-day stakeholders’ engagement on emerging issues with the TETFund Intervention in Abuja, yesterday.

Echono, said since the fund's allocation was barely enough to service programmes under its

Tertiary Scholarship for Academic Staff (TSAS), the fund was considering suspending foreign scholarships while also considering upward review of local scholarships. ''The Fund at this material time is also discouraging beneficiary institutions from initiating new benchwork programmes. ''Additionally, there are issues related to scholars not returning to serve their bonds at their home institutions upon completion of their programmes. ''In fact the challenge of scholars absconding has undermined and complicated the TSAS programme and bringing it under intense scrutiny.

of emergency on food security and urge them to prioritise farmers’ areas of assistance like fertilizers and seeds to mitigate the effects of subsidy removal as well as strengthen strategic food reserves to be used as price stabilisation mechanisms.

“The chamber implores the government to hasten the provision of the anticipated palliatives to lessen the impact of the rising trend in prices on economic agents.”

The Atlas Portfolio Limited, a Continued on page 43

NEITI Convenes Stakeholders’ Meeting on 2021 Audits, Set to Release Reports

Govt Policies Creating Difficulties for Foreign Scholarship, Payment of Tuition, Says TETFund Kuni Tyessi in Abuja

Chinyere Almona, in a separate statement titled, “LCCI Statement on July 2023 Inflation Rate,” expressed the chamber’s concern that there might be more inflationary pressures in the coming months due to the volatility of the naira as well as the lagged effects of subsidy removal and its transmission to general prices.

Almona said: “LCCI recommends that the government should step up efforts to tackle food costs, especially staple food items.

“We commend the federal government’s declaration of a state

''It is for these and other reasons that this engagement was organised.

We need to address these challenges and find solutions to ensure the effective and smooth implementation of our scholarship programmes," he said.

The executive secretary noted that the Fund recently signed several MoU’s with some prestigious institutions overseas that include universities in Malaysia, India, Brazil, France and the United States with a view to boosting and enhancing the TSAS programme in the future. ''You will also recall that to enhance the effectiveness of the National Research Fund (NRF), a National Research Fund Screening and

Monitoring Committee (NRFS&MC) was established to screen and select proposals from across institutions and researchers for funding. ''The committee comprises senior academic staff of universities and other tertiary institutions across the country.

Members are appointed for an initial period of two years that is renewable; however, no member is allowed to serve for more than four years, which is equivalent to two terms. ''Similarly, to ensure the successful implementation of the Higher Educational Book Development Project, the Board of Trustees of the Fund set up the standing Technical Advisory Group (TAG) committee in 2009.

has conducted a total of 13 cycles of reconciliatory reports in the oil and gas sector and 11 cycles of reports in the solid minerals sector.

As earlier reported, he noted that the reports had disclosed total revenue earnings to government of $741.48 billion from the oil and gas sector and N635.3 billion from the solid minerals sector between the years 1999-2020 and 2006-2020 respectively.

In addition, he restated that NEITI reports had further disclosed that Nigeria lost over 619.7 million barrels of crude oil valued at $46.16 billion or N16.25 trillion from 2009 to 2020 from theft and sabotage, amounting to losing over 140,000 barrels of crude valued at $10.7 million daily.

Furthermore, he reiterated that NEITI had reported on subsidy payments from the years 2005 to 2021 and its huge negative consequences to the nation.

In these reports, he noted that it was revealed that Nigeria had spent $74.39 billion which translates to N13.7 trillion, with an average of N805.7 billion annually, N67.1 billion monthly or N2.2 billion daily.

“After extensive consultation with the international secretariat, it was agreed that representatives of Companies, Civil Society, Media and Government should be invited to review, deliberate and approve the reports.

“This is not the first time we are adopting this approach as you will recall that we had a similar experience when approving the 2019 Industry

Reports immediately after my assumption of office. We had no Board then.

“The global EITI gave Nigeria waiver and approved that NEITI should convene a multi stakeholders’ roundtable to review and approve the release of the reports,” he stated.

On the reports expected to be officially made public latest by next month, he said the oil, gas and mining industries covered a total of 69 companies and 12 government agencies and one state-owned enterprise, while a total of 1214 companies with three government agencies were covered in the report of the solid minerals sector.

The objectives of the reports, Orji said, were to establish the quantities of minerals produced and utilised in the country.

Besides, he stated that the reports also sought to establish the revenue paid by oil, gas and mining companies and how much of such revenues were actually received into government coffers.

Other areas of focus by NEITI, Orji noted, are to identify investments made by the federation or the federal government in the oil, gas and mining industries, track subsidy payments, company remittances and liabilities.

“The processes followed especially on the basis for computation and remittances of all revenues payable to government such as taxes, royalties and rents are equally of interest to NEITI.

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COMMEMORATING THE INAUGURATION OF IBOORO, IMASAYI TO AYETORO ROAD...

L-R: The Special Adviser, Works and Infrastructure; Engr. Ade Akinsanya, the Chief Whip of the Federal House of Representatives; Hon. Dewunmi Onanuha, Ogun State Deputy Governor; Engr. Noimot Salako-Oyedele, Governor Dapo Abiodun, Olu of Ilaro and Paramount Ruler of Yewaland; Oba Kehinde Olugbenle and the Abepa of Joga-Orile; Oba Adeyemi Adekeye during the unveiling of the plaque commemorating the commissioning of the 7 kilometers Ibooro, Imasayi to Ayetoro road in Yewa North Local Government Area of Ogun State.

Forex Crisis: We Must Export Else Things Will Not Get Better, Says Obaseki Says he will not be distracted, but continue to work for Edo’s progress The Edo State Governor, Mr. Godwin Obaseki, has said that Nigeria must recalibrate the economy to export semi-finished and finished products else Nigeria’s parlous foreign exchange regime will not get better.

The governor was speaking when he played host to leaders of Edo South Senatorial District of the State, in Government House, Benin City.

The floating of the naira by the

federal government had resulted in a sharp exchange rate depreciation, with $1 exchanging for as high as N945.

A statement quoted the governor to have said: “We can't wait for the dollars. We can’t wait for everything to be imported. We need to export our own, as things will not get better soon. If we continue to work for the people in Edo, we will make the life and the future of the people better.”

The governor noted that the state government was working assiduously to improve the state’s economy and build the necessary mechanism to support exports.

He said: “In two years under the Edo State Oil Palm Programme (ESSOP), we have allocated over 70,000 hectares of land for fresh oil palm plantations. Various investors are now cultivating nurseries in the State. We are developing businesses in Edo State and creating an

institution to train our people to work for those businesses.”

The governor further stated that the state’s government is building a solid base to promote exports and drive productivity, creating jobs and building wealth for the benefit of Edo people.

Meanwhile, Obaseki, has commended leaders from seven Local Government Areas of Edo State, for supporting his administration in the last seven

35% Women Representation in Ministerial Appointments in Tandem with National Policy on Gender, Says Don Ugo Aliogo The Professorial Research Associate, University of London, Prof. Imran Oluwole Smith, has said the 35 per cent women representation in ministerial appointments was in tandem with national policy on gender, noting that the President Bola Tinubu has started off well and hopes he continues that way.

Smith, who stated that this yesterday in Lagos, during the Women and Electoral Outcomes in Nigeria: North-South Variations organised by the W2 Foundation, said there should be political will especially on the part of the lawmakers.

He said the era of patriarchy was gone, therefore they should look into the conventions, and protocols, to which Nigeria has been signatory to, while calling on the lawmaker and Independent Electoral Commission (INEC) to remember the national policy on gender and implement the provisions that have to do with women.

According to him, “You will discover that the gender related bills that were brought to the National Assembly on quota system basis,

were thrown overboard because the men were against those bills.

“And the reason I don't know, but however, the arguments must be constructive. If you have laws in place, and the constitutions has said something against discrimination, and the national gender policy stipulates 35percent of women, and you have the INEC guidelines, which is also towards the same aim, then what sort of arguments

will throw those bills overboard.

“So, what is happening in the National assembly is unjustifiable and unfair on our women, so our lawmakers must retrace their steps and these bills must be brought back.”

“The guidelines for women participation in politics and public life is already stated in the national policy gender. Now, the incumbent president has done

very well in terms of increasing women participation in politics.”

Earlier in her remarks, the Convener, and Lecturer in Politics, Bournemouth University, Miss.

Wonu Okunnu, said the goal of the event was to have the academic community come together and discuss the way forward for women participation in politics, and also look at how much influence women have on voters’ outcome.

years.

Obaseki said this while addressing leaders from Edo South Senatorial District during a solidarity visit to the Governor in Government House, Benin City, the state capital.

According to him: “I appreciate you all from Edo South Senatorial District for being a source of support all these years, from the very first time I contested to be governor in 2016. There was massive support in 2020 and till date, you are still supporting me. I thank you for the encouragement.

“We have come a long way. We can point to many achievements we have made in the State. Most times, when we rate development work, we are quick to point to physical structures. Thank God we have enough physical structures to point to as an administration, like schools, hospitals, roads and more.

“When we came in 2016, what we take for granted today – which is law and order – was not what we have today. Street trading was rampant. Non-state actors were in charge of our revenue. These activities didn’t attract investment into our State.

“We have transformed our educational system through Edo State Basic Education Sector Transformation (EdoBEST), which is now a global programme and our administration is getting commendation around the globe.

We have a lot of achievements to point to in the State.

“The drop-off ratio of students between primary six and S.S.1 was over 50 per cent. That was what we met. We met many of them in the street but the system we have created took care of this, ensuring that even those that can't further their education will have the skills to take care of themselves in the future. This is our greatest legacy.”

The governor added that his administration has improved the state’s healthcare system with the Edo Health Insurance Scheme, which many citizens are now benefiting from.

He noted that his administration has created a platform in the entertainment industry for youths in the State to become productive, noting that through the Sound Stage at the Sir Victor Uwaifo Creative Hub, over 50 Nollywood movies have been produced.

JOOPSA Will Drive Public Service Delivery in Edo, Says Director General Adibe Emenyonu in Benin City The Director General of the John Odigie-Oyegun Public Service Academy, Imuwahen Ajoonu, has said the launch of the academy in the state would see a recommitment to driving public service transformation in Edo State and Nigeria Speaking to journalists yesterday, Ajoonu said the aim was to make the academy a premier learning destination for public sector in the country.

She said the public service

academy, which symbolises the commitment to equipping and empowering the men and women who dedicate their lives to serving Nigeria, was birthed by the Obaseki-led government to meet the demands of contemporary society.

The DG listed factors that propelled the urgency of public service transformation to include technological advancements, evolving citizens' expectations as well as citizen-centric services.

She also disclosed that as part of efforts to meet the proposed

target of training 10,000 workers before the end of the year, 5,000 employees from various ministries and agencies, in addition to over 5,000 trained so far, would soon be equipped with digital skills, leadership, public service fundamentals and softskills.

She said, "The role of the public service in an era marked by rapid technological advancements, shifting societal expectations, and complex global challenges has become more crucial than ever before.

“The effective functioning of government bodies and institutions

directly impacts the well-being of societies, economies, and the overall progress of nations.

"Recognising this need for continuous improvement and adaptation, the concept of public service transformation has gained prominence with institutions like the John Odigie Oyegun Public Service Academy taking center stage in facilitating this evolution," Ajoonu said.

Named after the first executive Governor of Edo state, John Odigie-Oyegun, Ajoonu said the academy embodies his dedication to

effective governance and leadership, nothing it plays a pivotal role in fulfilling the governor’s vision of strengthening institutions through capacity building. The academy serves as a hub for training and skill development for public servants.

"It offers programmes that focus on leadership, management, strategic thinking, ethics, policy analysis, and communication skills.

By enhancing the capabilities of public servants, the academy equips them to navigate the challenges of modern governance effectively," she added.

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Tinubu: Bottlenecks to Ease Business Operations Will Be Removed from Investments Deji Elumoye in Abuja President Bola Tinubu has assured investors that his ongoing repositioning of the economy would receive a boost as he intensifies efforts to remove bottlenecks in the way of efficient business startups and administration in Nigeria, with a

particular emphasis on efficiency in service, tax reviews, and improved security.

Speaking yesterday, at the State House, Abuja, while receiving the Managing Director of Energy and Natural Resources in Europe, Africa and Middle East for Standard Chartered Bank, Mr. Ade Adeola, the

President said his administration was already working hard on making a difference in attracting investments.

Tinubu, according to a statement issued by his Media Adviser, Ajuri Ngelale, stated: “We are committed to strengthening partnership, encouraging efficiency, and creating a suitable environment for investors. We are

already working hard on security.”

“We will improve efficiency across the board for good input and output, and we will build a very friendly environment for growth and investments,’’ he added.

The president told the delegation that tax reforms were being undertaken with a close observance

of best practices across the globe, which will favor businesses for the collective prosperity of the nation.

“We are open for business. We believe in partnership, and we will work with all those interested in the progress of Nigeria,’’ he noted.

Earlier in his remarks, Adeola said the bank had been committed to

enabling investments in Nigeria for many years while focusing on energy and natural resources with a huge portfolio in funding for the oil and gas industry.

“We are very excited about your leadership, and we want to restate our commitment to the growth of Nigeria,’’ he said.

level, making subsidies unnecessary.

The deregulation policy remains unchanged,” he explained.

On how the loan would be repaid, he stated: “The loan will be repaid against a fraction of proceeds from future crude oil production. It's a strategic move that ensures a balance between our current economic needs and future production capabilities.

“This is not a crude for refined products agreement where the government does not earn any proceeds from the swap.”

Now, he has been exposed as a charlatan.

“His administration detained Emefiele and vilified him for taking FX loans from JP Morgan and Goldman Sachs running into $7.5 billion, which was used in defending the naira.

“Now, Tinubu’s administration claims to have done the same thing by forcing the NNPC to take a loan of $3 billion to defend the naira. We, however, have it on good authority that this is all a ruse to force the naira to appreciate at the parallel market, an action that will further affect the government's credibility.

“The NNPCL has failed to shed the toga of an ordinary government agency. No wonder it has refused to become a public limited liability company, as stated in the Petroleum Industry Act. “The NNPCL boss, Mele Kyari, who is also desperate to retain his job, has allowed himself to become a willing political tool just like Emefiele.

“If the NNPCL was a publicly listed oil firm like Aramco and Mobil, would it obtain a loan in order to ‘defend the naira’?”

Shaibu added: “Tinubu lacked a clear economic blueprint, hence his constant failures.”

He further argued that Tinubu’s policy flip-flops had already begun affecting Nigerian bonds, as reported recently by Bloomberg.

He added, “He takes action whimsically without thinking about consequences. He announced the removal of petrol subsidies without proper planning and brought the nation to its knees.

“He forced the CBN to float the naira even though the country had liquidity problems. Now, he is on the verge of taking the West African region to war without Senate approval. Tinubu is nothing but a myth that will continue to unravel.

“He claims to have deregulated the petroleum sector, and yet NNPC is still the one determining the price of petrol. He has pegged the price of petrol and yet claims that there is no subsidy. Nigerians must not allow themselves to be deceived by this man.”

NNPCL GETS $3BN LOAN FROM AFREXIMBANK TO STABILISE FX, NAIRA GAINS foreign exchange market.

But in a swift reaction, Phrank Shaibu, the Special Assistant on Public Communication to former Vice President of Nigeria, Atiku Abubakar, described as patently fraudulent the $3 billion loan secured by the NNPC. There was however relief in the forex market yesterday, as the naira appreciated at both the official Investors' and Exporters' (I&E) forex window and the parallel market.

A significant upswing was observed in the parallel market as the nation’s currency strengthened from N940/$1 the previous day, to N880/$1, reflecting a substantial increase of N60. On the other hand, at the official I&E window, the nation started off with an opening rate of N774/$1 yesterday, but appreciated to N759/$1 at the close of the market.

Announcing the deal with Afreximbank in a brief statement, the national oil company stated that the formal event held at the bank’s headquarters in Cairo, Egypt, with both parties jointly signing a commitment letter and term sheet for the emergency loan.

“The NNPC Limited and Afreximbank have jointly signed a commitment letter and term sheet for an emergency $3 billion crude oil repayment loan.

“The signing, which took place today (Wednesday) at the bank's headquarters in Cairo, Egypt, will provide some immediate disbursement that will enable the NNPC Limited to support the federal government in its ongoing fiscal and monetary policy reforms aimed at stabilising the exchange rate market,” the NNPC stated.

The illiquidity in the foreign exchange market recently saw the dollar exchange for as low as N950/$ in the parallel market and N775 in the official window, a situation that had become a nightmare for businesses in the country.

It had further complicated Nigeria’s massive fuel importation, which gulps about $20 billion yearly, raising the price to as high as N617 per litre, with concerns that it could soar to N720 in the coming days if the skyrocketing dollar value was not halted.

The new deal is coming over a year after the national oil company said it similarly secured a $5 billion corporate finance commitment from the Prof. Benedict Oramah-led bank to fund major investments in Nigeria’s upstream sector.

Although the NNPC's statement was silent on specifics in terms of the volume of each instalment of the FX expected and the quantity of crude oil to be repaid, the deal was

expected to boost foreign exchange liquidity into the country and prop up the value of the naira against the dollar.

The previous agreement was to be funded through a Forward Sale Arrangement with the delivery of 90,000 to 120,000 barrels per day to be delivered to the lender over a four to eight-year period.

During the signing of the new agreement yesterday, the national oil company was represented by its Group Chief Executive Officer, Mallam Mele Kyari, while the Executive Vice President of the bank, Dr George Elimbi, signed on its behalf.

Throwing more light on how the new deal will work, Spokesman to President Bola Tinubu, Ajuri Ngelale, noted on his Twitter handle that the FX accretion would to enable NNPC defray taxes and royalties in advance.

He added that it would also provide the federal government with dollars to aid liquidity to stabilise the naira via incremental releases based on the government’s needs.

“Stronger naira equals lower fuel costs. This is a major buffer against the need to re-engage in subsidy regime,” he noted.

On his part, the Senior Special Assistant to the president on Digital and New Media, O’tega Ogra,

explained that the emergency $3 billion crude oil repayment loan was not a crude-for-refined products swap but an upfront cash loan against proceeds from a limited amount of future crude oil production.

On whether it was a risky transaction, he noted that it was not, stressing that the exposure for NNPC Limited was very limited, covering just a fraction of their entitlements, while there are no sovereign guarantees tied to the loan.

“The loan will assist NNPC Limited in settling taxes and royalties in advance. It will also equip the federal government with the necessary dollar liquidity to stabilise the naira, with limited risk.

“The funds will be released in stages or tranches based on the specific needs and requirements of the federal government,” he added.

He noted that there were high hopes that the development would lead to a reduction in fuel prices, pointing out that there was no plan to restore subsidies.

“A strengthened naira as a result of this initiative will lead to a reduction in fuel costs. This means that if the naira appreciates in value, the cost of fuel will drop and further increases will be halted.

“A stronger naira will result in lower prices from the current

TINUBU, JONATHAN, MARK, OGBEHA, BAGO, OBASEKI, REJOICE WITH BABANGIDA ON 82ND BIRTHDAY friends, and associates of Badamasi Babangida.

The president, in a release issued by his Media Adviser, Ajuri Ngelale, congratulated the former military President, who had served in many capacities in the Nigerian army with distinction and reached the peak of his career as Chief of Army Staff with indelible legacies for his gallant defense of our nationhood during the Nigerian civil war.

Tinubu affirmed the contributions of General Babangida to national development, which included the creation of many states to strengthen the federal structure, physical infrastructure, the liberalisation of the media industry, and other initiatives across the health and defense sectors.

He noted the influential position of the former Nigerian leader, who has, after 30 years outside of power, consistently remained a voice of wisdom and counsel for many political leaders, both within and outside of Nigeria.

The President prayed for the continuous well-being of General Babangida and his family.

Also, Jonathan in a statement issued yesterday, by his special adviser, Ikechukwu Eze, described Babangida as a distinguished statesman and leader who has made significant contributions towards the development of Nigeria.

In the goodwill message, the former President joined the family, friends and well-wishers of the ex-military leader to pray for his long life in good health.

He stated: “I am delighted to join your family and friends across Nigeria to celebrate you on the occasion of your 82nd birthday.

“You are a distinguished statesman and patriot who has served our nation Nigeria faithfully and has contributed so much to the development and economic advancement of the country. Years after leaving office, you have remained an inspiration and a role model to many people and have continued to diligently promote peaceful co-existence and national unity.

“I pray for more strength, sound health and peace as you celebrate.

On behalf of my family, I wish you a happy birthday. Congratulations, Your Excellency.”

On their parts, Mark and Ogbeha described Babangida as an esteemed leader and an uncommon patriot.

In a statement eulogising Babangida on his 82nd birthday, Mark and Ogbeha noted the immense contributions of the former leader to the political and social economic development of Nigeria.

Mark was military governor of Niger state while Ogbeha was military governor of Akwa Ibom and defunct Bendel states under Babangida.

They prayed that God continues to grant Babangida good health, wisdom and peace in the years ahead.

The duo recalled that throughout Babangida's esteemed journey as the former President of Nigeria, he demonstrated unwavering dedication, profound wisdom, and a strong commitment to the betterment of our nation.

According to them: "Your visionary leadership and remarkable achievements have left an indelible mark on the pages of Nigerian history and continues to inspire generations to come.

"Your relentless efforts in fostering unity, promoting social justice, and advocating for economic progress transformed countless lives and communities.

"Under your guidance, Nigeria experienced significant advancements in various sectors, fostering an environment of growth and prosperity."

Beyond Babangida's political endeavours, they added that he has consistently displayed compassion and empathy for the Nigerian people.

"Your exemplary leadership has set a remarkable precedent for aspiring leaders, emphasising the importance of selflessness and service to others.

"As we celebrate your 82nd birthday, we also recognise the invaluable lessons you have imparted to us throughout your tenure.

"You have shown us that through dialogue, inclusivity, and mutual respect, we can achieve remarkable progress and overcome any obstacle that lies in our path.

"We join the entire nation in expressing our deepest gratitude for your distinguished service, your unwavering loyalty to Nigeria, and commitment to the citizenry. " May your birthday be a reflection of the immense respect and admiration we have for you, both as a leader and as an individual.

"As you embark on this new chapter of your life, may it be filled with good health, boundless joy, and the fulfillment of all your dreams.

May you continue to inspire us with your wisdom, grace, and unwavering spirit," they added.

On his part, Obaseki said: “I celebrate Nigeria's former Military

President, General Ibrahim Badamosi Babangida, as he marks his 82nd birthday.

“A consummate statesman, Babangida played a critical role in Nigeria's history and his indelible contribution to Nigeria's progress is undeniable. We celebrate his commitment to Nigeria's unity and development.

“We applaud his undying love for our dear country, which is often expressed in his frequent interventions in the public space.”

Meanwhile, in Minna, friends and associates have been sending words Continued on page 44

Atiku's Aide: NNPC’s $3bn Loan is Dubious Attempt to Stabilise Naira

Meanwhile, Shaibu has described as patently fraudulent the announcement by the NNPC on the $3 billion loan.

According to him, the announcement was a mere banana peel and a ruse to force the naira to appreciate on the parallel market.

Shaibu, in a statement held the view that the move was cosmetic and unimaginative and had once again exposed President Bola Tinubu as a Lilliputian economist that lacked ideas on how to rescue the economy he had pushed to the edge with unviable policies.

He argued that monetary policy was not the job of the NNPC but the Central Bank of Nigeria and wondered why the NNPC, which claimed to be a profit-making organisation, would go ahead to take a loan for the primary purpose of stabilising the naira.

Atiku’s aide also drew parallels between the actions of the NNPC and the CBN under the authority of Godwin Emefiele.

Shaibu noted that oil production had dropped on Tinubu’s watch due to continuous oil theft. He said instead of boosting forex liquidity by increasing production and exports, Tinubu decided to take the Jejune path of obtaining foreign loans, an inglorious road that his predecessor had travelled He added, “For many years, Tinubu claimed that he built the economy of Lagos from scratch.

TINUBU ASSIGNS PORTFOLIOS TO 45 MINISTER-DESIGNATES AHEAD OF MONDAY SWEARING-IN at a fast pace.

The office of the Secretary to the Government of the Federation (SGF) confirmed Monday as swearing-in date for the ministers, while the date for the ministerial retreat was yet to be fixed.

In the list released by a top presidency official to newsmen at State House, Abuja, former governor of Ebonyi State, Senator David Umahi, was assigned to the works ministry as Minister of Works; Festus Keyamo was given Minister of Aviation and Aerospace Development; former governor of Osun State, Adegboyega Oyetola, was given Minister of Transportation; and Wale Edun was assigned to the finance ministry as Minister of Finance and Coordinating Minister of the Economy.

With Minister of Petroleum Resources, possibly, reserved for Tinubu, as was with past administrations since the Fourth Republic, the ministerial list also included Bosun Tijani as Minister of Communications, Innovation and Digital Economy; Ishak Salako, Minister of State, Environment and Ecological Management; and former governor of Rivers State, Nyesom Wike, Minister of the Federal Capital Territory (FCT).

Bunmi Tunji-Ojo was appointed Minister of Marine and Blue Economy; Adedayo Adelabu, Minister of Power; Tunji Alausa, Minister of State, Health and Social Welfare; Dele

Alake, Minister of Solid Minerals Development; and Lola Ade-John, Minister of Tourism.

Doris Anite was given Minister of Industry, Trade and Investment; Uche Nnaji, Minister of Innovation Science and Technology; Nkiruka Onyejeocha, Minister of State, Labour and Employment; and Uju Kennedy, Minister of Women Affairs.

On the list also were Abubakar Momoh as Minister of Youth; Betta Edu, Minister of Humanitarian Affairs and Poverty Alleviation; Ekperikpe Ekpo, Minister of State, Gas Resources; Heineken Lokpobiri, Minister of State, Petroleum Resources; John Enoh, Minister of Sports Development; Hannatu Musawa, Minister of Art, Culture and Creative Economy; Mohammed Badaru, Minister of Defense; Bello Mattawale, Minister of State, Defense; Yusuf Sununu, Minister of State Education; Ahmed Dangiwa, Minister of Housing and Urban Development; Abdullahi Gwarzo, Minister of State, Housing and Urban Development; and Atiku Bagudu, Minister of Budget and National Planning.

The president reserved Minister of Environment and Ecological Management for the nominee from Kaduna State, who was yet to be announced.

Nonetheless, Minister of State for the FCT went to Mairiga Mahmud; Minister of State, Water Resources and Sanitation, Bello Goronyo;

Minister of Agriculture and Food Security, Abubakar Kyari; Minister of Education, Tahir Maman; Minister of Interior, Saidu Alkali; Minister of Foreign Affairs, Yusuf Tuggar; Coordinating Minister of Health and Social Welfare, Ali Pate; and Minister of Police Affairs, Ibrahim Geidam.

Others were Minister of Steel Development, Shuaibu Audu; Minister of State for Steel Development, Maigari Ahmadu; Minister of Information and National orientation, Muhammed Idris; Attorney of the Federation and Minister of Justice, Lateef Fagbemi; Minister of Labour and Employment, Simon Lalong; Minister of State for Police Affairs, Imaan Sulaiman-Ibrahim; Minster of Special Duties and Intergovernmental Affairs, Zephaniah Jisalo; Minister of Water Resources and Sanitation, Joseph Utsev; and Minister of Agriculture and Food Security, Aliyi Sabi Abdullahi.

The SGF, Senator George Akume, in a statement last night, said the swearing-in ceremony for the ministers, to be conducted by Tinubu, would hold at the State House Conference Centre, Aso Villa, Abuja, at 10am on Monday.

The statement signed by Director of Information, office of the SGF, Willie Bassey, said the incoming ministers were expected to come with two guests each.

NECA Hails Allocation of Ministries, Wants Ministers to Hit the Ground Running

Nigeria Employers’ Consultative Association (NECA) commended President Bola Tinubu for the release of portfolio of his ministers.

Speaking yesterday in Abuja, Director-General of NECA, Mr. Adewale-Smatt Oyerinde, lauded the announcement of the ministerial portfolios, saying, “We urge that they settle quickly into the difficult task of economic renaissance.”

Oyerinde said it was instructive to note that the ministers were coming at a time when the country was in dire need of deliberate and focused interventions.

He said, “We are particularly impressed with the portfolios assigned to Mr. Wale Edun (Finance and Coordinating Minister of the Economy; Mr. Solomon Lalong (Labour and Employment); Mr. Nyesom Wike (FCT), and others as we look forward to working with them to drive our economy out of the hole it currently finds itself and also fast-track the total reform of our industrial relations system.

“We hope, most earnestly, that in the coming weeks, the appointed ministers would give urgent attention to constituting the various boards and committees under their purview for the smooth running of the nation and their ministries.

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T H I S D AY ˾ THURSDAY AUGUST 17, 2023

POLITICS

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

Awe: Ganduje Has Experience to Take APC to Greater Heights Political Adviser to Governor Abiodun Oyebanji of Ekiti State, Chief Jide Awe, speaks to Gbenga Sodeinde on salient national political issues including the emergence of former Kano state governor, Dr Abdullahi Ganduje, as National Chairman of the ruling All Progressives Congress.

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is sent to the National Secretariat it will get there and it will be treated as it should. The National Secretariat of our party needs overhauling so I know this time around he will focus on administration of the party and will be able to block all the loop holes the former administration created.

s a former Chairman of APC in Ekiti state for at least two terms, what is your take on the choice of Dr Abdullahi Ganduje as the National Chairman of

the party?

Well, the position of National chairman of the party depends on zoning position of the APC because of the dividends of democracy and how to capture more votes.

If the National Chairman of the party is now zoned to the Northwest especially to Ganduje where he just served as a two term Governor of Kano state and as a highly rated politician.

We believe he has the wealth of experience to move the party forward I believe he is going to solidify the party’s grip on the nation. During the build up to the presidential poll, he did well for our candidate who is now the President of this country not only in the Northwest but across the nation.

The believe is that Ganduje will bring to bare his wealth of experience as Governor of a state like Kano and as a party stalwart who will work closely with President Bola Tinubu to move the party forward. Ganduje is well known, he is not a dark horse so his choice as Chairman will no doubt strengthen the party.

Correct me if I am wrong sir, you served more than two tenures as Ekiti APC chairman?

(Cuts in) Twelve years, I started from 2006 and to God be the glory successfully we handed over the baton in 2018.

Awe that happened during the primary of the party so we need a man that will not be biased, we need somebody who is solid we need somebody who has done it successfully somewhere so if some people are saying otherwise you can’t but find that in democracy and that is why we say majority carries the vote. So I believe in his ability to perform creditably well, I believe in his sagacity and administrative skills and his competence to lead our party.

But some people in the APC are against his person Yes some people may not be comfortable with his choice but when you look at the aggregate of the people that are against his candidacy they are not as much as the numerous people across the nation who are notable stalwarts of the party so such is expected.

What the party is trying to avoid is the issue

What are the areas you will want him to improve on?

I will want him to instil the confidence in the administration of the party, he has to rally round all the state chairmen and executives of the party to be able to have the belief that if a list

The recent Ministerial list sent to the Senate by Mr. President has raised quite a dust in Ekiti.Very many people are opposed to Dele Alake because they feel he is not connected to Ekiti people and that he is more of a Lagos Boy, your take on this sir?

You know the greatest players in the field of soccer are the spectators,(Laughs) they even teach where the ball should go, they are not on the filed and likewise in the field of politics many people don’t even know what goes on there. Dele Alake contested or wanted to contest for Ekiti Senatorial seat in 2011...

(Interviewer cuts in) He contested the Primary Yes but he didn’t win then if Dele Alake has no right to contest in Ekiti then I think the same yardstick should be used to judge him. I want to say Dele Alake is flesh, blood and whatever that makes him a full fledged Ekiti man and we are proud of him.

What very many people are saying is that he is not close to the grassroots in Ekiti and it will be difficult to relate with him.

Closing to grass roots what do they mean?

You see Dele Alake was a commissioner in Lagos and the right hand man to the President, I can’t be talking about the number of Ekiti people working for him or people he helps and give money to for the past fifteen, twenty years who are indigenes of Ekiti state, even in his home town he has been doing marvelously well.

If you say somebody is not close to the grassroots were is the grass and where is the root?(Laughs) those who are even playing politics here at the first stage are they staying here? The same Dele Alake, Babafemi Ojudu, Kayode Fayemi and even Oga Niyi Adebayo is he staying 24 hours in Iyin?

No, because some of our interest doesn’t exist in Ekiti you have to go out and pluck those good fruits.

If all of us should be staying here 24 hours what will we be doing? Politics doesn’t entails that 24 hours you should be at the base because even at the root of the grass you need to satisfy it and water it, nurture it before it grows, so if somebody has gone out to look for what to nurture the root of the grass, does that remove him from the grassroots?

Absolutely no so as it applies to Ganduje that maybe he is not a grassroot man so also the same applies to Dele Alake he is our son and if any position that is meant for Ekiti is given to him I don’t think anybody should raise eyebrows and I pray he is successful and he too will be listening to the allegations now so he will come and be close.

NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Ugwu: PDP Is Party to Beat in November Imo Guber Poll Chairman of the Peoples Democratic Party in Imo State, Charles Ugwu, in this interview with Chuks Okocha, talks about the preparedness of the party to wrestle power from incumbent Governor Hope Uzodinma during the November 11, 2023 gubernatorial poll in the state.

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he ban on politics has been lifted in Imo State. How are the political parties preparing for the Nov. 11 governorship poll in thr state?

As far as I know all the political parties have selected their candidates; the PDP, APC, APGA, Labour party. These are the front runners and have selected their candidates and filled their ticket holders. But as far as campaigns are concerned, only PDP has started. I haven’t seen any campaigns yet from the ruling APC. They are busy trying to buy up opinion leaders by dangling pieces of carrot to them.

So only the PDP has started campaigns. Our candidate, Senator Sam Anyanwu, has moved on to talk to people at the local government level, preparing them for a more aggressive campaign. We are going to mobilize the LG structures and the ward structures. So he is the only one I know that has actually started the campaign.

APGA has no campaign that I have heard of. Labour Party has been in a great deal of squabbles and confusion as to who the candidate is and they are in court trying to resolve who flies their flag.

As I speak to you now, I don’t know who is the official candidate of Labour party.

So I will say that PDP has started campaign, our candidate is going round within the party structure. Once that is finished, he will embark on a wider campaign, asking people to vote for him, providing his programme and agenda and defining his strategy for some of the things he’s planning to do.

From the events we have seen, it looks like Governor Hope Uzodimma deliberately started buying and putting candidates in these other parties and that is why there is so much conflict in there. The other subterfuge and strategy he is using is buying up certain elders to speak out in favour of him. How that will work against

Ugwuh the poor performance that people are experiencing, I don’t know?

How prepared is PDP for the November election.

The PDP is preparing seriously for victory in the election. First of all we are working on uniting the party and heal from the setback of the general elections. There is despondency all over the place and it affected Imo. So we are making serious attempt at winning the governorship election in Imo state.

That is the internal thing we are doing in the party prior to going to launch a big public campaign to the populace all over the state.

There are so much concerns on security, infrastructure in your state. What is your party offering the people as solution to those challenges?

The PDP is approaching the people on the basis of the changes we propose to make on the polity in terms of stability, peace and security. That is a very important element in the campaign.

So far, Governor Uzodimma is taking advantage of the high level of poverty in the state, talking to the political class and trying to entice them with the resources he is able to garner from the federal allocation.

He is using the loans to buy his way into the populace. The populace is depressed, there are so much hunger and anguish in the land, so he is taking an advantage of that.

But we are confident and we know that the people will vote for PDP. People want good governance; they know that Hope Uzodimma is not providing good governance.

In the last election, what the APC did was a gun boat fight and going with Armored Personnel Carriers that brought fear into people; they drove away those that are managing the elections and wrote the results.

That was the approach they used during the last election. They are attacking individuals and harassing the people. So there is some level of despondency and agony about that. The people are saying alright, let’s pray that the election runs well so that there will be a change. So, if we were to get good policing, secured democratic election process here, I believe that PDP will win hands down.

What is the alternative the PDP is offering to the people in the face of insecurity?

Our alternative is to vote out this government and bring in good government for the state.

That is why the people are yearning for a free and fair election. They are determined to vote out this government and install a government that will do the right thing.

How would rate the Hope Uzodimma administration since its inception?

The resources of the state are not being properly managed. Everybody knows that his government is not doing well. The government is a failure in terms of infrastructure delivery , in terms of education, in terms of industrial environment.

For example, entrepreneurs that have set up several industries here in Imo, there are no roads to pass to your factory. You can’t go from here to Enugu just like that, you have to plan it. You have to put in some subterfuge that will enable you to disguise, so the situation is awful.

You can go round to Nekede to see road that he said that he has built. I have an industry in Nekede, I am not able to reach there. The vehicles I have to go there are trucks, you can’t go with your car to Nekede. The road is flooded and unpassable. There is security and infrastructure issues and businesses are collapsing. So the environment is depressing and virtually all the productive industries in Imo state are paralyzed.

Gov Uzodimma is not accountable to anybody.

Most of the young entrepreneurs in the state have exited. All the industries are down. There is no infrastructure, there is nothing that will make you hope that tomorrow, business will improve.

I want you to move around and see whether there is any construction going on because it is those economic activities that lead to job creation. There is real agony here and that is why we are appealing to the government to allow us to have free and fair election here so that people can express their will and their choice of governance.

NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

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FEATURES

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

Sanitising Lithium Mining in Nasarawa Nasarawa State, known as the 'Home of Solid Minerals', is beginning to witness the discovery of most sought-after and most attractive minerals, especially lithium; hence there is reported infiltration of illegal miners into the state mining the lithium. To sanitise the sector, Igbawase Ukumba reports that the state government has put several measures on ground

Miners on site

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ithium today is the main product for all the power batteries, including solar. Nevertheless, Nasarawa State is so blessed with a huge percentage deposit of the lithium. Hitherto, Governor Abdullahi Sule is working tirelessly towards exploiting the potentials of lithium across the state, which is manifesting in the ongoing multimillion naira mining of lithium in Nasarawa Local Government Areas of the state.

At the time that fossil oil is being discouraged, and green energy is being encouraged, Nasarawa State is now beginning to have huge discoveries of lithium. Consequently, the Nasarawa State government is discussing with three different companies that are not only going to be mining lithium in Nasarawa State, but they are also going to be processing and finishing the product in the state.

Speaking as a guest at the first Regional Summit of the World Council of Civil Engineers (WCCE) in Abuja recently, Governor Abdullahi Sule pointed out that Nigeria can no longer afford a situation where raw materials were exported to be refined outside the country while importing the finished products.

"We have to reverse the same technology where we must be mining all the raw materials that we have in Nigeria and be able to go ahead and process and produce the finished products, so that if we are exporting, let us export the finished products from Nigeria to other African countries," Sule insisted.

However, prior to the coming of Governor Sule into office, most minerals been mined in Nasarawa State, including as simple as marble and granite, were taken outside the state for processing somewhere.

But today in Nasarawa State, there is a company that is not only mining granite, but it is also producing marbles and tiles in the state. Nevertheless, still under the watch of Governor Sule, another company has been encouraged to come to Nasarawa State, coincidentally in Nasarawa town, and it is mining lithium and constructing a company to be able to process about 3,000 metric tons of lithium per day, the governor disclosed recently at a public function.

According to Sule, "by the time they complete this exercise, they are going to be producing at least one million metric tons per day of finished product in Nasarawa State."

The governor announced that yet another private firm has approached him with the idea of investing $250 million towards building another lithium factory that has the capacity to process 18,000 metric tons per day.

He added that already, contract for the project has already been awarded to the company that

Nasarawa State Governor, Abdullahi-Sule built the Dangote Cement factories in Ogbajana, Ibese, as well as upgraded the Benue Cement Company.

Disturbingly, the latest discovery of commercial quantity of lithium in Nasarawa State has not only brought blessings, but also lots of challenges. In the past, there have been lithium issues, but communities have been managing it, especially around Nasarawa Local Government Area, in Udege Development Area of the state.

It was the same with few other places.

But it is alarming in the Nasarawa Local Government Area. Especially with the recent report in that area that quantities of lithium have been discovered in large number which have attracted some investors and some illegal miners, and that has become a major problem.

Consequently, Governor Abdullahi Sule convened an emergency security meeting in the Government House, Lafia to discuss the issues.

Accordingly, Sule said: "I am happy that all the parties are here so that we will be able to hear more. It will give us an understanding of the havoc activities of miners will cause on the environment."

Following concerns raised about emerging threats to security around mining sites in parts of the state, the Nasarawa State Government entered into partnership with the Nigeria Mining Cadastre Office (NMCO), to regulate mining activities in the state.

This came to fore after the Director General of NMCO, Mr. Obadiah Simon Nkom, paid a courtesy visit on Governor Sule at the Government House, Lafia recently.

The NMCO was established in 2007 with the responsibility for the administration and management of mineral titles in Nigeria in accordance

with Section 5 (1) of the Nigerian Minerals and Mining Act, 2007.

In his opening remarks, Nkom said he was in Lafia to partner the Nasarawa State Government in regulating mining activities in the state. The DG said his agency was aware of the challenges that were there in the mining sector, particularly when it comes to communities, land owners, security and operators who come in diverse ways with different perspectives, but all the target is the abundant wealth available in Nasarawa State.

"This is the wealth that we have, and we want to take advantage of it to be a blessing to our people. But at the same time, mining must be done in a regulated manner. It must, at the end of the day to be done to be able to bring benefits not just to the communities, but to the entire state and country at large.

"I came here to give you my unalloyed support. I am ready as much as possible to now be able to partner with you so that we will now be able to regulate the industry properly. At the end of the day, the benefits of the minerals' wealth of Nasarawa State will be able to trickle down to all levels of government. At the end of the day, the Home of Solid Minerals will be justified, not just a name."

In a response, Governor Sule decried the spate of unrest around mining sites mostly due to activities of illegal miners.

The governor expressed appreciation over the enthusiasm and commitment shown by the Nigeria Mining Cadastre Office to partner with his administration towards sanitizing mining activities in the state.

According to him, "the opportunities in the mining sector are enormous, but that steps must be taken not to waste such opportunities by encouraging illegal mining.

"A single community has accepted $700 million from a company that is investing to do mining. These are the kinds of problems

This is the wealth that we have, and we want to take advantage of it to be a blessing to our people. But at the same time, mining must be done in a regulated manner. It must, at the end of the day to be done to be able to bring benefits not just to the communities, but to the entire state and country at large

that we are having. I am happy you are here to make sure we work together. We are here to look at all these indices for the betterment of your own organisation, the ministry, for Nigeria and indeed for Nasarawa State and the communities. That is just my dream. I am happy to see you with this enthusiasm and commitment for us to work together," Sule stated.

The Governor however requested the NMCO to always ensure prospective mining companies seeking for licenses to operate in Nasarawa State to always present their Environmental Impact Assessment (EIA) in other to safeguard the environment.

"As far as we are concerned, any company coming to do this huge investment, at least they should have their EIA report. I don't know your requirements, your guidelines for issuance of license, but for a company to have a prospecting and even mining license and then come back later without the EIA, is wrong.

"In ten years, such company can cause huge damage to the community then they will go away to China and we will be looking at how to protect that community. The devastation will not come until at the end of the exercise," he explained.

Be that as it may, perhaps it might be time up for the Chinese illegal miners operating in Nasarawa state as the People's Republic of China and the Nasarawa State Government have set up a formidable joint task force team to checkmate activities of illegal mining across the state.

The Senior Special Assistant (SSA) to Governor Sule on Abuja Liaison Office, Yusuf Maiangwa, held talks with the Chinese Ambassador to Nigeria in Abuja recently to that effect.

The meeting which took place at the Embassy of the People's Republic of China, discussed the infiltration of Chinese illegal miners into Nasarawa State as raised by Yusuf jibrin Maiangwa. According to the Abuja Liaison SSA, Governor Abdullahi Sule was worried about activities of the illegal miners who poised a serious danger to the socio-economic well-being of people of Nasarawa state .

Responding, the People's Republic of China Ambassador to Nigeria, represented by his deputy, Zhang Yi, welcome the idea and pledged to collaborate with the state government to addressing the menace, especially it negative impact on the ecosystem. Zhang Yi, however, advised that the state government should make available an accurate statistic of the Chinese illegal mining companies to the Embassy for possible action.

24 T H I S D AY THURSDAY AUGUST 17, 2023 TR

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& RE A S O

Thursday August 17, 2023 Vol 27. No 10353

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opinion@thisdaylive.com

www.thisdaylive.com

SWEET LAND OF PALLIATVES Lagos State has kick-started subsidising some sectors to cushion rising cost of living, writes JAMES AGBEKORODE

See page 25

TURNING THE ECONOMY AROUND SULEIMAN ABUBAKAR argues the President needs seasoned economists to drive his vision

See page 25

EDITORIAL

ISSUES IN THE CBN AUDIT REPORTS

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What would IBB have done? asks CHIDI AMUTA

IBRAHIM BABANGIDA AT 82 Today, former military president, General Ibrahim Babangida, turns 82. It has become my annual personal tradition to use the opportunity of his birthday each year to highlight the perennial relevance of the policies, ideas and practices that he emplaced over three decades ago to our present circumstances. Each time we are confronted with a major national challenge, the question that has come to my mind has always been: What would IBB have done? I raise the same rhetorical question today in the light of the issues that confront our new administration.

The Niger Coup and ECOWAS: Perhaps the most burning issue today is the coup in Niger Republic and the spotlight on Nigeria’s leadership responsibility as a force of stabilization in the West African sub region.

As IBB observes his birthday today, it might be helpful for our younger generation and the political leadership of today to have an insight into how IBB used the projection of Nigeria’s power to stabilize war torn Liberia and later Sierra Leone.

Of course the circumstances were somewhat GLͿHUHQW 1LJHULD ZDV XQGHU PLOLWDU\ UXOH transiting to democracy. But our leadership place in West Africa and indeed the entire continent was not in question. The strength of our military was intact just as sour commitment to political stability and democratization were all values deserving external projection.

Babangida’s grand vision of Nigeria saw a bolder more assertive and even regionally powerful Nigeria. With Prof. Bolaji Akinyemi as Foreign Minister, Babangida pursued the kind of bold and activist foreign policy that RQO\ EHÀWV DQ DPELWLRXV UHJLRQDO SRZHU +H was not shy to project Nigeria’s power in the West African sub region hence his direct military intervention in the civil wars in both /LEHULD DQG 6LHUUD /HRQH +H VDZ WKH FLYLO ZDUV in both countries as direct threats to the security RI :HVW $IULFD +LV IULHQG *KDQDLDQ KHDG RI state, Jerry Rawlings, shared his commitment.

They did not wait for endless summits or convoluted resolutions. They led the charge.

Others followed. ECOMOG was born.

In August 1990, a contingent of the Nigerian military landed at the port of Monrovia to commence what became the ECOMOG operation. As the vessels approached Monrovia, the transmission station of “Radio Freedom” which was onboard came alive with messages of hope beamed to the Liberian people. The Nigerian force was supported by a small Ghanaian contingent, which was allowed to provide the founding force Commander of ECOMOG, General Arnold Quainoo.

ECOMOG succeeded in separating the warring factions. It later graduated into an ECOWAS wide intervention initiative which stabilized the situation in Liberia. In subsequent years, ECOMOG expanded into troubled Sierra Leone with the stationing of an air base with a squadron of Nigerian Alpha jets. That neutralized the rebels in rural Sierra Leone. Through Nigeria’s leadership, ECOMOG became an African model in the use of national power to stabilize a region. The OAU and the UN later supported the initiative

into a multilateral initiative.

Choosing a Cabinet: As the nation awaits the swearing in of President Bola Tinubu’s cabinet, national discourse has concentrated on the quality of most of the nominees.

In a nation that boasts of some of the most outstanding technocrats and intellectuals in GLYHUVH ÀHOGV WKH PHGLRFULW\ RI WKH 7LQXEX selection has embarrassed many. There may be no basis for measuring Tinubu’s choices against those of Babangida over 30 years ago.

7LQXEX LV D SDUWLVDQ SROLWLFLDQ +H KDV SROLWLFDO GHEWV WR SD\ +H KDV WR FRQWHQG ZLWK a constitution that requires that each state be UHSUHVHQWHG E\ RQH PLQLVWHU DW OHDVW +H DOVR has to rule over a nation that has literally been overrun by a degraded value system. On the contrary, IBB headed a military regime with no parliament to please. Meritocracy and the national interest were the abiding considerations. Political charlatanry was not in the picture.

IBB was an enlightened and ideas-driven SUHVLGHQW +LV FRQVWDQW FRPSDQLRQV ZHUH mostly from among the nation’s outstanding PHQ DQG ZRPHQ RI LGHDV +H FRQVWDQWO\ sought the diverse views and perspectives RI LQWHOOHFWXDOV +H UHFUXLWHG WKHP WR ZRUN with him as ministers, advisers, heads of specialized agencies and friends. To date, the Babangida administration featured the largest collection of people of ideas in government. Just a sampling: Ã 3URI 2OLNR\H 5DQVRPH .XWL +HDOWK 3URI %RODML $NLQ\HPL ² ([WHUQDO $ͿDLUV· 3URI %DEV )DIXQZD ² (GXFDWLRQ · Prof. Jibril Aminu – Petroleum Resources/ (GXFDWLRQ · Prof. Tam David West – Petroleum 5HVRXUFH 'U .DOX ,GLND .DOX ² )LQDQFH Dr. Chu S. P Okongwu- National Planning/ )LQDQFH 3URI *RUGLDQ (]HNZH ² 6FLHQFH DQG 7HFKQRORJ\ 3URI (PPDQXHO (PRYRQ ² 6FLHQFH DQG 7HFKQRORJ\ 3URI 6DP 2\RYEDLUH ² ,QIRUPDWLRQ · Prof. Wole Soyinka – Federal Road Safety &RUSV Ã3URI (PH $ZD 3URI +XPSKUH\ 1ZRVX ² 1DWLRQDO (OHFWRUDO &RPPLVVLRQ Prof. Ojetunji Aboyade- Economic Reform $GYLVHU 'U 7XQML 2ODJXQMX ² 3ROLWLFDO $GYLVHU 3URI ,NHQQD 1]LPLUR $GYLVHU 3URI $NLQ 0DERJXQMH ² $GYLVHU Ã 3URI ,VDZD (ODLJZX ² $GYLVHU &KLHI Michael Omolayole -Adviser.

Fighting Inequality: Another matter of present national interest is the viral spread of multi -dimensional poverty. Nigeria has in the last decade become the world’s poverty capital with an estimated population of 130 million poor people.

For Babangida, the main thrust of economic reform was the migration of Nigeria from a mixed economy to a free market format. +H UHFRJQL]HG WKDW SRYHUW\ DQG LQHTXDOLW\ ZRXOG LQFUHDVH +LV TXHVW IRU D QHZ VRFLDO order involved a deliberate policy of poverty mitigation.

General Babangida believed that it was the responsibility of a compassionate government to give capitalism a human face E\ PLWLJDWLQJ WKH DOLHQDWLQJ HͿHFWV RI PDUNHW FRPSHWLWLRQ KHQFH WKH HͿRUWV WR DPHOLRUDWH WKH KDUVK HͿHFWV RI WKH 6WUXFWXUDO $GMXVWPHQW Programme (SAP). The result was easily our most systematic and well thought out poverty alleviation programme to date containing: · The Directorate for Food, Roads and Rural Infrastructure (DFRRI), The Peoples Bank, Community Banks, National Directorate of Employment, The National Economic, Recovery Fund (NERFUND), and The Mass Transit Programme.

Institution Building: It has been said in recent times that a major part of Africa’s development has been the preponderance of strong man and a lack of strong institutions.

Central to Babangida’s grand vision and its enabling strategy was the creation of strong national institutions. In the domestic sphere, Babangida was obsessed with the establishment of a robust institutional framework for nation building. In the entire history of post -colonial Nigeria, the Babangida administration is on record for establishing the highest number of national institutions in major areas of national life.

Most of these institutions have endured to the present including: Corporate $ͿDLUV &RPPLVVLRQ &$& 1DWLRQDO Communications Commission-NCC(1992), National Deposit Insurance CorporationNDIC(1988), National Broadcasting Commission-NBC(1992), National Electoral Commission, Technical Committee on Privatization and Commercialization(TCPC) ZKLFK EHFDPH WKH %3( 7KH 1DWLRQDO Drug Law Enforcement Agency (1989), The Federal Road Safety Corps (FRSC) –(1988), Technical Aid Corps (1987), National Agency For Food and Drug Administration NAFDAC (1993), and National Women’s Commission (1992).

Accordingly, Babangida reorganized the Nigeria Police into the present zonal command structure. Similarly, the architecture of national intelligence and security was reorganized from the former monolithic National Security Organization (NSO) to the present three branch structure of: The State Security Service (SSS), now DSS, National Intelligence Agency (NIA) and Defense Intelligence Agency (DIA).

Dr. Amuta is a member of THISDAY Editorial Board

T H I S D AY

3 25

THURSDAY AUGUST 17, 2023

Lagos State has kick-started subsidising some sectors to cushion rising cost of living, writes JAMES AGBEKORODE

SWEET LAND OF PALLIATVES The past one month has been tough, to say the least. With the removal of fuel price subsidy, many Nigerians are feeling the heat as they go about their daily activities. Prices of basic goods and services have spiralled, skyrocketing out of the reach of many people. In Lagos, the country’s commercial nerve-centre, it’s been a trying time. But thanks to the Lagos State government for seeking ways to assuage the living costs.

While the federal government is yet to roll out palliative measures it announced, Lagos State under the leadership of Governor Babajide Sanwo-Olu has jump started the roll of palliatives.

From August 2, it announced the slashing of fares by half on its state-owned transport system which include buses, cabs and ferries. Also, the government negotiated a 25% reduction in fares with the transport unions on privately-owned commercial buses and tricycles. While not all the

yellow buses are complying with the negotiation, Lagos State-owned transport services have rescued Lagosians with the halved fare now charged.

Also, all Lagos State General Hospitals and Primary Health Centres are providing free antenatal care and child delivery services to pregnant women resident in the state. Also, caesarean section to expectant mothers was included as part of the announced relief measures. That started on August 1, 2023. And following the directive, the Permanent Secretary, Lagos State Ministry of Health, Dr. Olusegun Ogboye, recently carried out compliance monitoring visits to some state hospitals including the Ifako-Ijaiye and Isolo General Hospitals. He expressed satisfaction at the level of compliance to the free ante-natal and child delivery services in hospitals visited and noted that the implementation of the free ante-natal care and child delivery services will help improve maternal and child health indices in Lagos.

“The governor recognised that the cost of antenatal care and child delivery services would add to the burden of fuel subsidy removal on cost of living for expectant parents, and this is why the governor announced the free medical intervention as part of the rolled out measures to ease off the burden,” said Ogboye.

“I am impressed by the level of compliance to Mr. Governor’s free ante-natal and child delivery service directive at the health facilities visited. Having gone round the ANC clinics, post-delivery wards and baby nurseries at the Ifako-Ijaiye and Isolo General Hospitals, it is heart-warming to see the smiles on the faces of newly born and their parents.

“I would like to thank the management of these hospitals and the health workers for quickly putting in place modalities and carrying out the governor’s directive to the letter, this is an indication that all government institution are in sync regarding the harsh reality of fuel subsidy removal and the intervention to ameliorate the suffering of citizens.”

But so important is this palliative to Sanwo-Olu that he also embarked on a monitoring visit and also paid unscheduled visits to the Island Maternity Hospital on Lagos Island and the General Hospital,

Odan, where an elevator tragedy that claimed the life of a medical doctor, Dr Vwaere Diaso, recently happened.

According to a statement released by the governor’s Chief Press Secretary, Gboyega Akosile, at the Island Maternity Hospital, Sanwo-Olu met a 37- year- old pregnant woman, Omowunmi Odeyemi, who was on admission, and confirmed that the hospital was providing free healthcare to her in compliance with the palliative.

“My husband and I live in Abule Egba, where I started antenatal care at a private clinic,” said Odeyemi to the governor.

“I was seven and half months into my pregnancy when they discovered that my blood pressure was too high. My husband feared that I might lose the pregnancy again, having had two successive miscarriages.

“We were referred to the Island Maternity Hospital for advanced medical examination when doctors told me I must be admitted for continued observation. My husband did not want me admitted initially because of the cost. But we were told the care is completely free. We didn’t believe it until I started getting treatment without anyone asking us to pay a dime.”

Since the free medical services commenced, hundreds of pregnant women have benefited from the free deliveries and antenatal care across the Lagos-owned hospitals. But to ensure strict compliance with things on ground, Sanwo-Olu said: “I need to come and see things for myself to know where our intervention is specifically and generally needed.”

Also, realising the important place of food in human lives, at the end of July, Sanwo-Olu had said the state through various stakeholders including “civil society groups, CDCs and CDAs, and our various Churches and Mosques, our traditional rulers, our local governments’’ would share foodstuffs as well as other basic necessities. Recent developments have shown the state is walking the talk.

Last month, the Chairman of Ojodu Local Council Development Area (LCDA), Lagos, Olusegun Odunmbaku, initiated free bus transportation within the council. And just last week, Odumbaku organised an event at the Council Secretariat where foodstuffs were sold at a subsidised price. For as low as N1000, residents bought a food pack consisting of rice, beans, yam, cooking oil and others. While Odunmbaku said the initiative is to complement the palliative efforts of both the state and federal governments, he also said it was part of activities to mark his second anniversary as chairman.

In a similar vein, Apapa Local Government also of Lagos State has rolled out its transportation and food palliative measures that will run for six months. According to the council chairman, Idowu Adejumoke Senbanjo, every Nigerian is entitled to this palliative, as it has no political, religious or tribal colouration.

“We have a transportation palliative where we have involved the use of 100 buses,” she said.

“We have already met with the transporters and their unions and they have agreed to be part of this project. They charge N200 per drop but with our new arrangement, it will now be N100 per drop.

This is only for buses plying Apapa routes.”

Regarding the food palliative, the council boss said: “We do not intend to give out food but have instead asked all residents of Apapa to come and register. We are giving out N10,000 per household and this will be distributed to 1000 people, and we are looking at a six months process. We expect that this money will be used to buy foodstuff from the market. This is a time when we need to support each other and see ourselves as Nigerians.”

Agbekorode writes from Lagos

SULEIMAN ABUBAKAR argues the President needs seasoned economists to drive his vision

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LV WR WDFNOH LQÁDWLRQ VWDELOLVH WKH H[FKDQJH SHUFHQW JLYLQJ WKH FRXQWU\ WKH XQHQYLDEOH UDWH SURYLGH VRXQG HFRQRPLF DGYLFH WR SRVLWLRQ RI WKH ZRUOG·V SRYHUW\ FDSLWDO WKH JRYHUQPHQW DQG PDQDJH WKH VXSSO\ ,Q DGGLWLRQ 1LJHULD FRQVLVWHQWO\ LPSRUWV RI NH\ PRQHWDU\ DJJUHJDWHV 7KHVH PRUH WKDQ LW H[SRUWV HYHQ WKRXJK LW LV RQH PDWWHUV DUH QRW WKH IRUWH RI D FRPPHUFLDO RI WKH ZRUOG·V PDMRU RLO H[SRUWHUV $FFRUGLQJ EDQNHU 7KH\ UHTXLUH D VHDVRQHG WR GDWD IURP WKH 2EVHUYDWRU\ RI (FRQRPLF HFRQRPLVW &RPSOH[LWLHV 2(& 1LJHULD LPSRUWHG JRRGV ZRUWK 86 ELOOLRQ LQ EXW H[SRUWHG Abubakar JRRGV ZRUWK 86 ELOOLRQ LQ WKH VDPH \HDU writes from Abuja

26 4

T H I S D AY

THURSDAY AUGUST 17, 2023

EDITORIAL

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

ISSUES IN THE CBN AUDIT REPORTS The apex bank should focus on its core function of price stability

L

ast Thursday, the Central Bank of Nigeria (CBN) posted on its website the Consolidated and Separate Financial Statements for the year ended 31st 'HFHPEHU ,W ZDV WKH ÀUVW WLPH WKH apex bank would publish its audited report in a long time. Going by the statements, the CBN is indebted to JP Morgan and Goldman 6DFKV WR WKH WXQH RI ELOOLRQ XQGHU D FODVVLÀHG securities lending. This is in addition to a $6.3 billion exposure to foreign currency forwards. Overall, the reports suggest that there are fundamental issues of transparency and accountability at the apex bank. There is also a glaring failure of oversight, especially by the legislative arm.

A review of the ÀQDQFLDO VWDWHPHQWV substantiates some of the long-held concerns regarding the quality of the CBN assets. Over the last few years, it has moved towards holding its reserves in more risky assets with lower credit ratings. There are also questions regarding the adequacy of its provision for loan assets, especially relating to the Anchor Borrowers Programme. Its equity make up is also no longer robust. Retained earnings have gone from representing 87% of equity in 2015 to 45% in 2022.

Fair value reserve, foreign exchange translation reserve and revaluation reserve now make up a little over 50% of the equity. Unsurprisingly, the leverage ratio has also increased, with equity as a percentage of assets decreasing from 3.7% to 2.8% over the same period. Meanwhile, with the accounts now published, one of the biggest concerns is about the contingent liabilities. There are serious questions regarding the proportion that is impaired, in one form or the other.

However, most of the revelations in the audit reports are well known to those tracking our ÀQDQFHV (YHU LQFUHDVLQJ LOOHJDO ORDQV WR WKH IHGHUDO government, wrongheaded policies, sexed up

foreign reserves, etc. What the audit merely shows is the depth of the rot while providing actual ÀJXUHV IRU ZKDW PRVW SHRSOH DOUHDG\ VXVSHFW ,W·V also clear that concealing the opacity of recent years was deliberate. Publishing annual audits would have sounded the alarm bells. But the CBN GLGQ·W GR WKDW 1HLWKHU GLG WKH 1DWLRQDO $VVHPEO\ that ordinarily should have compelled it.

By their standing rule, the Public Accounts Committee (PAC) in both houses is to be headed by someone from the opposition parties. This is to ensure adequate checks. Unfortunately, as we have seen over the years, National Assembly members are almost always in bed with the agencies over which they should oversight, essentially for shakedown. That perhaps explains why the CBN has not been compelled to UHOHDVH LWV DQQXDO ÀQDQFLDO statements which would have revealed the gaps that are now in the public domain.

Ordinarily, issues in WKH &%1 ÀQDQFLDOV DUH what proper legislative oversight would have picked up. The National Assembly should have asked for performance of the previous budget before approving a new one.

Any money not part of the approved borrowing SODQ VKRXOG KDYH UDLVHG D UHG ÁDJ DQG D SURELQJ of the source would have revealed issues of limits, etc. But then, the unbridled willingness by the CBN to open the tap probably prevented us from going to the International Monetary Fund (IMF) like Ghana and some other African countries. So, we had easy but expensive cash from CBN and with that, kicked the can down the road.

While we leave the managers of our economy to examine the implications of the reports on the general wellbeing of Nigerians, the CBN needs to stop printing money for the federal government.

This has gone on for several years thus masking WKH GHSWK RI RXU SUREOHPV DQG IXHOOLQJ LQÁDWLRQ The apex bank should also focus more on price stability, which is its core function.

While we leave the managers of our economy to examine the implications of the reports on the general wellbeing of Nigerians, the CBN needs to stop printing money for the federal government 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 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, 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 AFRICA: WORK TOGETHER TO AVOID A NEW LIBYA ,Q WKH HDUO\ V D ZDYH RI SURWHVWV DQG FRXSV G·pWDW VZHSW DFURVV WKH 0LGGOH (DVW DQG 1RUWK $IULFD ZKLFK ODWHU became known as the “Arab spring”. A decade later, many states that survived the turmoil are developing and prospering, but one country, which became a bloody victim of those events, lies in ruins with no prospects for positive change.

I mean, of course, Libya, which faced not only a coup, but also an invasion by NATO, with the assistance of France and a number of Arab states, under the pretext of protecting civilians in 2011. As subsequent events showed, the country, WKH LQYDVLRQ RI ZKLFK ZDV MXVWLÀHG E\ WKH 81 LWVHOI VXͿHUHG more than others. And the Libyan people, for the protection of which the French Air Force launched its air strikes, is still counting the losses incurred as a result of that operation. , DP KRUULÀHG WR QRWH WKH SDUDOOHOV EHWZHHQ WKLV VWRU\ DQG what is happening at this moment in the Sahel. It started, as in the days of the Arab spring, with a series of coups in Mali, Burkina Faso, and later in Niger. And now we are actually standing at the point of no return, when France and its WestHUQ DOOLHV ZLWK WKH VXSSRUW RI 1LJHU·V QHLJKERUV DUH FRQVLG-

ering an invasion.

If we do not want a repetition of that terrible tragedy, all SDUWLHV RI WKH FRQÁLFW DQG HVSHFLDOO\ $IULFDQ VWDWHV VKRXOG now think about the interests of the entire region. Is Africa ready for a bloody Arab spring scenario? Will we be able to cope with the catastrophic humanitarian and economic consequences that the invasion could lead to? Or is anyone really thinking that the West and France in particular will take the restoration of the country upon themselves? /HW·V QRW IRUJHW WKDW WKH 6DKHO LV VWLOO LQIHVWHG ZLWK WHUURULVW groups that will certainly take advantage of the invasion to assert their rights to rule in the country, as they did in Libya. $QG WKHQ 1LJHU·V QHLJKERUV ZLOO IHHO DOO WKH GHOLJKWV RI WKH LQcreased level of terrorist threats in the region, arms smuggling DQG KXPDQ WUD΀FNLQJ Under the circumstances, only diplomacy and cooperation could save us from a “new Libya” on the continent.

Johannes Adebisi, Grassy Park, Cape Town, South Africa

THEY HAVE LOST THE PLOT OR PARTS OF IT The good people of Hillsborough County Public School, Florida have lost the plot or at least censored the plot with only fragPHQWV RI 6KDNHVSHDUH·V SOD\V EHLQJ VWXGLHG The updated quote could be “To read or not to read, that is the question” although that has been decided in this case so that students read a wide variety of books. Surely this should include books that have been considered amongst the best for over 400 years.

The other concern expressed was that the stories might contain pornography and yes, Shakespeare does have some colorful sections but so does the internet. The solution to protect students from these 400-year-old words would be for them to “get thee to a nunnery”.

Truly this is a case of “the lady doth protest too much” and more sensible approaches, even the ludicrous trigger warnings could be considered. /HW·V KRSH WKDW WKH SROLF\ LV UHYLHZHG DQG ´$OO·V ZHOO WKDW HQGV well.”

Dennis Fitzgerald Melbourne, Australia

T H I S D AY ˾ THURSDAY, AUGUST 17, 2023

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BUSINESSWORLD R A T E S MONEY MARKET

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

08056356325

A U G U S T

S & P INDEX

1 6 , 2 0 2 3

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

19.12%

INDEX LEVEL

611.31%

1/4 TO DATE

-0.07%

N795.28/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

16.25%

1-DAY

0.03%

YEAR TO DATE

0.48%

*AS AT MONDAY, JULY 24, 2023

3-MONTH

15.75%

MONTH-TO-DATE

-0.7%

Telecoms Operators’ Infrastructure Deployment Raises Hope for Nigeria’s Digital Transformation

Emma Okonji The 2022 Subscriber/Network Data Annual Report by the Nigerian Communications Commission (NCC), has revealed that telecoms industry infrastructure deployment increased in 2022, compared to the infrastructure deployed in previous years, an indication of their readiness to deepen digital transformation across the country.

The report showed a high volume of deployment of telecoms infrastructure, a development industry sources believe would further boost digital transformation across the country.

According to the report, a total of 34,862 towers were recorded in 2022 from telecom operators across

the country, with a total number of 127,294 Base Stations, while microwave radio deployment and coverage recorded in 2022 stood at 289,270.48km. A total number of 125 Gateways were in use in the telecom industry as at December 2022, while the total fiber optics deployment (terrestrial fibre and submarine cable), stood at 96,198 km as at December 2022.

According to NCC’s statistics, as at December 2022, the total on-land fibre deployment was 49,367.20km as against 47,128.7km in 2021.

A breakdown of the figure for terrestrial (land) fibre deployment, shows that MTN deployed as much as 14,612km of fibre optic cable in 2021, and maintain same volume of deployment in

2022, while Globacom deployed 13,233km of fibre optic cable in 2021 and increased the volume of deployment to 13,813km in 2022.

Airtel deployed as much as 14,454km of fibre optic cable in 2021 and increased the volume of deployment to 16,112km in 2022. Emerging Markets Telecommunications Services Ltd (EMTS), operating as 9mobile, deployed 4,650km of fibre optic cable in 2021 and maintained same volume in 2022, while NTEL deployed 180km of fibre optic cable in 2021 and also maintained same volume of deployment in 2022.

For submarine cable deployment, MTN deployed 17,934km of submarine cable in 2021 and increased the volume to 17,984km in

2022. Globacom deployed 9,800km of submarine cable in 2021 and 2022 respectively, while Airtel deployed 14.3km of submarine cable in 2021 and 2022 respectively. NTEL also deployed 70km of submarine cable in 2021 and 2022 respectively.

However, the NCC data showed a slight drop in the number of microwave radio deployment across networks in 2022, compared to what was deployed in 2021. As at December 2022, the mobile operators had deployed a total of 288,947.48km of microwave radio links as against the 290,625.69km of microwave radio links reported in 2021, which is a slight decrease of 0.57 per cent.

Microwave radio links are deployed for point-to-point

communications in remote areas where fibre optic cable cannot be deployed.

A breakdown of the microwave deployment shows that in 2021, MTN deployed 85,551km of microwave radio and 80,074km of microwave radio in 2022. Globacom deployed 71,540km of microwave radio in 2021 and increased it to 75,061km in 2022, while Airtel deployed 77,095km of microwave radio in 2021 and increased it to 81,352km of microwave radio in 2022. EMTS, which operates as 9mobile, deployed 48,958km of microwave radio in 2021 and 48,957km of microwave radio in 2022. SMILE, a Long Term Evolution (LTE) technology provider, deployed 2,948km of

microwave radio in 2021 and deployed same volume in 2022, while NTEL deployed 4,534km of microwave radio in 2021 and increased it to 4,553km in 2022.

Commenting on the increased volume of telecoms infrastructure deployment in 2022, the Chairman, Association of Licensed Telecoms Operators of Nigeria (ALTON), Gbenga Adebayo, said telecoms operators continued to re-invest their revenues in infrastructure deployment in order to maintain network stability and to deepen digital transformation that is driven majorly by telecoms infrastructure rollout.

The story continues online on www.thisdaylive.com

FG: Unauthorised Adverts Triggered Disbandment o f A S G , S u s p e n s i o n o f A R C O N ’s D i r e c t o r s Raheem Akingbolu The disbandment of the Advertising Standard Panel (ASP) and suspension of two senior officials of the Advertising Regulatory Council of Nigeria (ARCON), by the federal government on Tuesday, became necessary to avoid further damage to the various reforms and regulations being undergone by the current

leadership of ARCON, according to THISDAY investigation.

The federal government had on Tuesday disbanded the Secretariat of the ASP due to its endorsement of billboards accused of attempting to manipulate the Presidential Election Petition Tribunal with the slogan: “All Eyes on The Judiciary.”

The Director-General of ARCON, Dr. Olalekan Fadolapo, conveyed

the dissolution of the panel through a statement he issued and circulated in the media.

The ASP, a statutory panel within the council, is tasked with ensuring that advertisements adhere to the prevailing laws of the federation and the code of ethics for advertising professionals.

Pointing out the reasons for which the advertisement should not have been approved, the

Director-General of ARCON, stated: “The attention of the Advertising Regulatory Council of Nigeria has been drawn to the “All Eyes on the Judiciary” advertisements exposed on some billboards across the country. The concepts exposed were not approved by the advertising standards panel, hence, the council has directed that all the materials being exposed be brought down immediately

and the violators sanctioned.

The advertising standards panel of the council also erred in the approval of one of the concepts as the advertisement failed to vet the guidelines.

The cause forming the central theme of the campaign in the advertisement is a matter pending before the Presidential Election Petition Tribunal; hence it’s subjudice, “the statement stated.

The regulatory council also announced the suspension of two high-ranking officials for approving the advertisement.

Fadolapo, who confirmed the suspension, said the affected officials included the Director and Deputy Director, Regulations of the council.

The story continues online on www.thisdaylive.com

M A R K E T D ATA A S AT W E D N E S D AY, A U G U S T 1 6 , 2 0 2 3 BONDS Change Updated Time DESCRIPTION Price Yield (%) August 15, ^13.53 23104.08 10.68 -0.01 2023 MAR-2025 ^12.50 22August 15, 99.27 12.85 0.00 2023 JAN-2026 ^16.2884 August 15, 110.61 12.52 0.00 2023 17-MAR-27 ^13.98 23August 15, 102.58 13.20 0.00 2023 FEB-2028 ^14.55 26August 15, 104.15 13.47 0.00 2023 APR-2029

BILLS MATURITY

Discount Yield

NTB 24-Aug23 NTB 7-Sep23 NTB 26-Oct23 NTB 9-Nov23

3.88

NTB 7-Dec23

3.88

4.13

4.14

5.75

5.82

5.25

5.32

5.75

5.86

OTC F X F U T U R E S

CPS

Change (%) Updated Time August 15, 0.00 2023 August 15, 0.00 2023 August 15, 0.00 2023 August 15, 0.00 2023 August 15, 0.00 2023

MATURITY JULI CP II 25OCT-23 ZEDC CP I 17-NOV-23 NSDL CP IIA 22-NOV-23 MTNN CP V 23-NOV-23 NSDL CP IIB 23-NOV-23

Discount Yield

Change (%) Updated Time

17.74 18.37

August 15, -0.01 2023

16.16 16.86

August 15, 0.00 2023

20.47 21.67

August 15, 0.00 2023

13.00 13.48

August 15, 0.00 2023

20.48 21.69

August 15, -0.01 2023

CONTRACT Current Updated Time TENOR Contract Rate ($/₦) (MONTH) August 15, NGUS AUG 13 914.19 28 2024 2023 August 15, NGUS SEP 14 927.51 25 2024 2023 August 15, NGUS OCT 15 938.61 30 2024 2023 August 15, NGUS NOV 16 949.70 27 2024 2023 August 15, NGUS DEC 17 960.80 24 2024 2023

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THURSDAY, AUGUST 17, ͰͮͰͱ ˾ T H I S D AY

BUSINESSWORLD

BRANDS & MARKETING

Saving Lives with Tobacco Harm Reduction Experts have urged policymakers in Nigeria learn from Sweden’s Experience in the area of Tobacco Harm Reduction to save lives. Raheem Akingbolu reports

S

weden’s harm reduction strategy to combat tobacco-related deaths and improve public health is an inspiring model that has saved millions of lives. Sweden’s results towards achieving a smoke-free society is a success story and an exemplary model for countries around the world, especially in Africa to adopt in their ongoing efforts towards reducing the health impact of smoking.

Tobacco harm reduction is a public health strategy that aims to reduce the negative health impacts of smoking by providing smokers with alternative products that are less harmful than cigarettes. Its goal is to help smokers quit smoking altogether in favour of a less harmful alternative.

International health experts have urged African policymakers to adopt Sweden’s Tobacco harm reduction strategy to combat tobacco-related deaths and improve public health across the continent. For example, over the past 15 years, Sweden has reduced its smoking rates from 15% in 2008 to 5.6% today. This is the lowest smoking rates in Europe with corresponding health impact.

For instance, Sweden now has a 41% lower incidence of cancer than other European countries, and a 39% lower mortality rate than the European average from all tobacco related diseases. These achievements highlight Sweden’s smoke free strategy and underscores the potential benefits of adopting a similar approach in other societies.

A recent report - “The Swedish Experience: A Roadmap for a Smoke-free Society,” – published

by Dr. Delon Human and Dr. Anders Milton, suggests that if other countries adopt similar measures, 3.5 million lives could be saved across Europe in the next decade.

The Swedish model of Tobacco Harm reduction is the acceptance of less harmful alternatives like snus, nicotine pouches, vapes, and heated tobacco products and ensuring that

those alternatives are known to, available and affordable to the general public. These alternatives provide a pathway for smokers to transition away from combustible cigarettes, to non-combustible tobacco or nicotine alternatives that significantly reduce the exposure to harmful chemicals produced by smoking.

Public health experts, consumers, and policymakers converged to discuss the urgent need to implement Tobacco Harm Reduction (THR) strategies in Africa, in a THR webinar hosted by Africa Harm Reduction Alliance (AHRA) on the 28th of April 2023 . The panel highlighted the success of countries like Sweden and the United Kingdom, who have embraced lower-risk alternatives to cigarettes, resulting in reduced smoking rates and tobacco-related diseases. The webinar was an urgent wake-up call for African nations, highlighting the pressing need to adopt and leverage tobacco harm reduction

(THR) strategies to effectively combat cigarette smoking and its consequences on public health.

“Sweden’s success story should be celebrated as a public health revolution. We should all be on the mountaintop shouting ‘Victory!’ and looking at Sweden as the best-case practice, “Dr. Delon Human, the Secretary-General of the AHRA said.

He further added that the efforts are all about saving lives and about improving the quality of life for smokers who’ve been unable to quit. “Harm reduction is their way out; it’s their fire escape.”

Kurt Yeo, a consumer advocate, called for a rethinking of the approach to noncommunicable diseases (NCDs) and the potential of THR in addressing the smoking pandemic issue.

A Global Health Consultant and Founder of the Foundation for a Smoke-Free World, Dr. Derek Yach, stressed the need for better access to reduced risk alternatives and

more accurate diagnostics for tobacco-related conditions. He warned against proposals that would regulate harm-reduction products, such as e-cigarettes and nicotine pouches, the same as combustible cigarettes. If we miss the opportunity to adopt THR “a review in a few years’ time will show that we’ve actually forgone the opportunity to save many, many lives, “Yach said.

In order to achieve meaningful progress, towards a smoke-free society in Nigeria, it is vital for us to take learnings from other countries and adapt successful strategies within the context of their/our unique cultural and socio-economic contexts.

Nigeria, needs to begin to consider implementing robust tobacco control policies that promote tobacco harm reduction and reduced risk alternatives for smokers who want to but cannot quit. Policy makers, public health professionals and the scientific community need to foster international research collaboration, ensure that accurate and evidence-based information is readily available to consumers, and actively engage in constructive dialogue among a diverse array of stakeholders.

Tobacco harm reduction, when approached with a well-coordinated and evidence-based strategy, can play a crucial role in significantly reducing the health impact of smoking in Nigeria. By taking the right steps in prioritizing and implementing THR initiatives, Nigeria and other African nations can save millions of lives, alleviate the strain on healthcare systems, and work towards a healthier future for our people. By embracing less harmful alternatives to smoking, and THR strategies, we can begin to make a tangible progress in the fight against cigarette smoking. This transformative shift will not only benefit the health and well-being of individuals but will also contribute to the overall socio-economic development and progress of Nigeria and the African continent.

Interswitch to Boost Cross-border Transactions with Digital Solutions Emma Okonji Interswitch, Africa’s integrated payments and digital commerce company, has emphasised the need for more innovative solutions to effectively address issues hindering the growth of intra-continental trade.

Managing Director, Payment Processing, Switching (Interswitch Purepay), Mr. Akeem Lawal, stated this during a panel session at the recently

concluded 2023 Zenith Bank International Trade Seminar, which held at the Civic Centre, Victoria Island, Lagos.

Lawal noted that the prevailing issues limiting cross-border payments could be solved through advanced digital payment platforms that enable seamless intra-continental transactions.

He acknowledged the prevailing issues affecting crossborder payments, positing that

Nigeria Fintech Week 2023 Unveils Partners, Sponsors Nosa Alekhuogie Experience Nigeria Fintech Week (NFW) is thrilled to unveil the esteemed sponsors and partners for NFW23, scheduled to hold from October 24-26, 2023. According to the organizers, this year’s event promises to be bigger and better, with the support of leading organisations driving innovation and growth in the Fintech industry.

Among confirmed sponsors are Zenith Bank; Mastercard; Alliance Law; Horizon Pay, a pioneering payment solutions provider; and UUBO, a leading commercial law firm renowned for its focus on innovation and technology.

Their sponsorship reflects their dedication to shaping the future of fintech in Nigeria.

Others partners include Banwo Ighodalo, top-tier law firm known

for its exceptional legal services in various sectors, including fintech; Soft Alliance, a prominent technology solutions provider, VFD Group, a diversified financial services group; and AELEX, top-tier law firm.

The partners and sponsors bring their expertise and commitment to the forefront, emphasising the significance of collaboration between the financial sector and emerging fintech solutions.

Confirmed Ecosystem Partners include: The Nigeria Inter-Bank Settlement System (NIBSS); The Nigerian Communications Commission (NCC), while confirmed media partners include: TechCabal, Tech Economy, Proshare, SDM Communications, and Coinnewsextra (B2B) and businessto-consumer (B2C) partnerships and media engagement opportunities.

existing infrastructure can be improved to create opportunities for businesses within Nigeria to transact with businesses beyond the borders of the country.

According to him, businesses can achieve greater strides by embracing digitization, adding that the opportunity cuts across private businesses, government parastatals and financial institutions.

“Digitisation is critical for designing platforms for

Small and Medium Enterprises (SMEs) in the export business to enable them complete transactions successfully with little to no constraints,” Lawal said.

The seminar themed, “Nigerian Non-Oil Export Industry: The Present, The Future,” also identified the impact of Nigeria’s service industry, with a focus on the creative and technology sectors and their impact to

the country’s development.

Speaking on the critical significance of these sectors, Lawal emphasised the need for fortified public- private partnerships to drive growth in Nigeria’s service industry, which has consistently played a substantial role in the country’s overall Gross Domestic Product (GDP). He noted that Nigeria was a high exporter of technological expertise and that a significant investment in

technology-focused companies would augment the sector’s contribution to the economy.

In his welcome address, Group Managing Director/ CEO, Zenith Bank Plc, Dr Ebenezer Onyeagwu, underscored the need for Nigeria to recognise its huge potential as a continental powerhouse, shifting its focus from oil products to non-oil commodities to derive value for the economy.

NCC Set to Showcase Airtel Africa Pledges Indigenous Telecoms Support for Africa’s Achievements Digital Agenda

Emma Okonji

The Nigerian Communications Commission (NCC) is set to showcase achievements so far recorded in the promotion of indigenous content in the telecommunications sector at the second edition of the Nigerian Telecommunications Indigenous Content Expo (NTICE 2023), slated to hold in Lagos from August 22-24, 2023, at Landmark Centre, Victoria Island, Lagos.

Themed: ‘Harnessing Indigenous Content for Economic Growth: Networking to Boost Investment’, the commission said it would mobilise stakeholders for a remarkable outing, following the success of the maiden edition last year.

The NTICE is being coordinated by NCC’s Nigeria Office for Developing the Indigenous Telecom Sector (NODITS), which superintends over efforts for effective implementation of the National Policy on the Promotion and Implementation of Indigenous Contents in the Telecommunications Sector, (NPPIC).

The Expo is open to multi-sectoral participants, including indigenous telecom operators, manufacturers, regulators, government agencies, policymakers, innovators, industry leaders, startups, other actors in the telecom ecosystem, academia and global experts to showcase their products and services, innovative solutions and new technologies.

Emma Okonji Airtel Africa has reaffirmed its commitment to continue driving the digitalisation of the continent to unlock new opportunities and promote inclusive, sustainable growth.

Speaking during a recent meeting with the President of the Republic of Malawi, Dr. Lazarus McCarthy Chakwera, the Group CEO of Airtel Africa, Dr. Segun Ogunsanya, indicated the company’s plans to boost investments that are geared towards supporting the country’s target of achieving at least 20 per cent internet access by 2030 in the quest of the government of Malawi to become a self-reliant, industrialised middle-income economy.

Ogunsanya said: “Our purpose

is to transform lives across the continent. We look forward to working with governments and other actors to bridge the digital and financial gap. Digitalisation has huge potential to create economic opportunities in the continent.”

President Chakawera said: “We have agreed to continue growing our government-to- business partnership with Airtel Africa so that we create meaningful socioeconomic value for all Malawians through pro-growth modern digital services. In the quest to become a self-reliant and industrialised middle income economy, Malawi will count on digital technologies that create new value of our economic system thereby facilitating the creation of sustainable wealth and jobs.”

T H I S D AY ˾ THURSDAY, AUGUST 17, 2023

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BUSINESSWORLD

INTERVIEW

Diedrich: Cisco EDGE Will Offer Nigerians Access to Digital Jobs Senior Vice President and Global Innovation Officer at Cisco, Dr. Guy Diedrich, in this interview with Emma Okonji, speaks about the recent launch of Cisco’s EDGE Centre in Nigeria and how it will enhance digital transformation and provide access to digital job opportunities in Nigeria and Africa What are some of the benefits of the recently launched Cisco EDGE Centre in Nigeria, and how will Nigeria benefit from it? he Cisco EDGE Centre was launched in Nigeria last week and it is located inside TD Africa’s Tech Experience Centre in Victoria Island, Lagos. The Cisco EDGE hub will function as an incubator, providing Small, Medium and Micro Enterprises (SMMEs) with access to state-of-the-art Cisco communication and collaboration technology, alongside training and enablement programmes. In addition, SMMEs will be able to connect with global Cisco experts, who can support them develop business ideas and concepts in a digital world.

EDGE stands for ‘Experience, Design, GTM (Go to Market) and Earn’ and has the objective to share business knowledge to stimulate innovation, help develop small and medium businesses in the digital age, speed up their entry to market and as a result create new jobs for the local economy. The centre hosts three key functions under one roof: It provides a space where local partners can showcase technologies and host client events; it brings resources and tools to local innovators and entrepreneurs to help them develop more secure, intelligent, and connected solutions; and offers training programmes and education in the most advanced digital technologies.

With its vibrant economy and young population, Nigeria stands to benefit from the promise of an inclusive digital future.

Cisco is here to help Nigeria with digital skills development, innovation and incubation as well as cutting edge technologies. Cisco welcomes Nigeria to the Cisco Country Digital Acceleration program and look forward to working with businesses, government, and academia, enabling them to take the lead in shaping the future and driving social and economic inclusion.

Cisco Networking Academy, which currently trains over 120,000 students at 228 academies across the country. Cisco Networking Academy, one of the longest-standing IT skills-to-jobs programs in the world, has over the past years, equipped over 400,000 people in Nigeria with digital and cybersecurity skills.

T

How will Cisco collaborate with the federal government to further drive digital transformation in Nigeria?

On May 16, 2023, the National Information Technology Development Agency (NITDA), signed MoU with Cisco to help promote digital transformation and bridge digital skills gap in Nigeria. NITDA is also in talks with Cisco on how Cisco can collaborate with government to build public digital infrastructure in Nigeria in order to digitise some key sectors like agriculture and healthcare. Through our Corporate Social Responsibility (CSR) programme, Cisco will be investing in Nigeria to transform her digital transformation agenda.

How will such collaboration help Nigeria to achieve its planned 95% attainment of digital literacy by 2030?

The Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi, had said that NITDA developed several initiatives that would help drive digital transformation in the country and that NITDA had gone ahead to sign the National Digital Literacy Framework that would help identify competency areas.

Cisco is already in collaboration with NITDA though the Cisco Network Academy that is designed to develop digital skills among Nigerians. With such collaboration, Cisco can help Nigeria to achieve its planned 95 per cent digital literacy attainment by 2030.

A lot of Nigerian youths are migrating to other countries in search of jobs and better living condition. How will Cisco accelerator programme help Nigeria address the mass movement of youths?

Again the Director General of NITDA had said that the agency drafted the National Business Process Outsourcing (BPO) strategy that would allow companies outsource their non-core businesses to other companies, a development that will enable Nigerians with the required skills, to handle such outsourced jobs. The Director General of NITDA also said such strategy would help in engaging the youths and make them remain in Nigeria and work from Nigeria, for companies located outside of Nigeria.

On the part of Cisco, we will give Nigerians the opportunity to acquire digital skills that will enable them live and work anywhere from Nigeria. With technology evolution, people can work from their homes without going to the office, and this way, Nigerians can work for any company in the world, while living in Nigeria, provided they have

Tells us about the Cisco Social Justice Programme and how it aligns with the global awareness initiative on social justice?

The Cisco Social Justice Programme started as US Central Justice Programme in 2020 to address what is going on in US. It is about providing education to the people, offering economic empowerment and increasing number of SMEs for US and later we decided to take across the world. We encourage our team members to volunteer service offerings around the world and developing schools around the world. We focus on entrepreneurial development with the goal to uplift communities in the areas of education, empowerment and critical human needs and around climate.

With the Cisco Social Justice Programme, we ensure that every employee identifies his or her role to develop communities.

Diedrich the digital skills, which Cisco is offering through our various training initiatives.

How will Cisco Edge help address the dearth of digital skills in Nigeria?

The Cisco Edge centre is designed to provide comprehensive approach in building a sustainable innovation ecosystem here in Nigeria. The idea is to train people on critical digital skills like networking, cybersecurity, programming and management skills. The skills training will come in the form of entrepreneurship, where they will have access to mentorship.

So Cisco recognises the potentials in Nigeria and through our Edge centre, will train more Nigerians on critical digital skills that will help address the dearth of digital skills in the country. The Cisco Edge centre will offer them the opportunities to start their own business and create job opportunities. Cisco is working with the United States of America in some forms of partnerships to offer entrepreneurship education to communities in Bauchi State and other states in Nigeria.

What is the duration of training at the Cisco EDGE Centre and what courses are available to Nigerians?

The duration of the training depends on the particular course that the student is interested in because different courses have different duration periods. For example, basic cybersecurity training for cybersecuriy technicians can be done in few weeks, but training in a more advanced cybersecurity course to get certification, like the top level security architecture, takes years.

The CCNA and the CCNP courses could take months. The Cisco EDGE Centre allows candidates to continue in their education to get different categories of digital skills that will enable them get digital jobs.

We have different cohorts that can take between 20 to 25 persons for a training of 90 days duration, depending on the course.

How does Cisco intend to address gender balance among its instructors, giving the instance where Cisco currently has 336 instructors in the Cisco Networking Academy and only 10% is female?

Cisco is gender sensitive, both in recruitment and in admitting candidates into its training programmes. Among the 400,000 students already trained in the Cisco Networking Academy since its inception in Nigeria, 44 per cent of the population is female. The females get access to the same technology education and training that Cisco offers.

Is Cisco going to merge the existing Cisco Networking Academy with the Cisco Edge Centre that has just been launched or one of them will be discontinued?

There is no plan for merger of Cisco

Networking Academy and the Cisco Edge Centre because one is a sub-set of the other. The Networking Academy has been running for some time now, and we have trained close to 20 million students globally and currently, 3.6 million students enrolled in the academy, undergoing different trainings across the globe. So the Edge Centre is giving access to education to people who want to further advance the training already received at the Cisco Networking Academy. The Edge training will offer specialised and advanced training and offer access to Cisco mentorship and digital skilled job opportunities.

Tell us more about the Cisco Digital Accelerator Programme?

The Cisco Accelerator Programme provides access to connectivity, healthcare, education, among others, and connectivity is key to everyone. It is about connecting the unconnected and providing inclusive feature for all.

What Cisco is doing with Accelerator Programme is consistent with what the Nigerian government is doing through NITDA. Countries are investing in the Cisco Accelerator Programme and Nigerian government is investing in it also. Access to connectivity will create next generation jobs, build a sustainable innovative ecosystem and contribute to Gross Domestic Product (GDP) growth.

The EDGE Centre is part of Cisco’s Digital Accelerator (CDA) program in Nigeria.

CDA was founded in 2015 and has since evolved into programs in 49 countries, and Nigeria making it 50 countries, with over 1,600 active or completed projects – encompassing over two-thirds of the world’s population and 75 per cent of global GDP. The focus areas for Cisco’s CDA programmes are in education, transportation, security, health, connectivity, among others. In May this year, under the scope of CDA, Cisco and NITDA signed a memorandum of understanding (MoU) with the aim to support the nation’s digital transformation agenda and contribute towards digital skills training and development.

A key pillar of the CDA program in Nigeria is

What are your views about the digitisation and digital transformation, in relation to perceived loss of jobs?

It is obvious that the ongoing digital transformation and digitisation of processes across globe will displace jobs by 2025. In fact digitisation will displace as much as 85 million traditional jobs, but it will also create as much as 97 million digital jobs by 2025.

New digital jobs will be created and companies should begin the process of retraining their workers that are trainable and place them on the jobs that have demand for digital skills and higher pay. Digitisation will create opportunities to train millions of workers with digital skills from now till 2025. In Nigeria, there are youths who are young and determined to learn. So the Cisco EDGE Centre will offer them access to training and education that will lead to digital transformation.

The story continues online on www.thisdaylive.com

RE: ALHAJI ABUBAKAR USMAN FARUK,

RETRACTION AND APOLOGY

On 27th July 2023 and 3rd August 2023, we published an advertorial in form of a Public Notice in which some shareholders of Abuja Markets Management Limited (AMML) claimed that the employment of the organization’s Managing Director, Alhaji Abubakar Usman Faruk, had been terminated.

It has been brought to our attention that there is a subsisting order of a Federal High Court declaring Alhaji Faruk as the bona fide Managing Director of AMML. We regret the mix-up, retract the publication and express our profound apology to Alhaji Faruk.

- EDITOR

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HEALTH & LIFESTYLE

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

NYSC: Bringing Healthcare to Rural Dwellers The Health Initiative for Rural Dwellers, HIRD, initiated by the National Youth Service Corps, NYSC, appears to be providing some relief to people at the grassroots level. Oghenevwede Ohwovoriole reports

Q

uality healthcare has become a luxury in Nigeria such that even the rich can ill-afford, not talk of the poor, the rural dwellers and the internally displaced persons (IDPs) in the society.

Amid this prevailing circumstance, the National Youth Service Corps (NYSC) came up with a healthcare programme tagged, Health Initiative for Rural Dwellers (HIRD), to help provide healthcare services to the rural dwellers, the underserved, and the IDPs who do not have access to quality healthcare services.

The HIRD programme is launched in every first quarter of the year after it was officially launched in 2014 by the then NYSC Director General (DG), Brig. Gen. Johnson Olawunmi.

Since then, every successive DG of the scheme has maintained the programme.

The rationale behind this noble initiative is to reduce the mortality rate in the rural areas and increase access to quality healthcare services.

In 2021 when the then DG Maj. Gen Shuaibu Ibrahim launched the quarterly activity in Damaganza Hausawa rural community of the Federal Capital Territory (FCT), he expressed pleasure that the programme was bringing healthcare services to the rural dwellers.

He said at the time that over two million persons had been attended to by the NYSC medical teams on the HIRD platform, in addition to the treatment of patients.

On that occasion, he noted: “Driven by our determination to deepen the impact of our healthcare services, management launched the NYSC-HIRD in 2014. It is a platform for contribution towards promoting the wellbeing of indigent persons at the grassroots by granting them easier access to free and quality healthcare.”

According to him, the programme was (and is still) largely implemented through medical outreaches in communities across the country, during which corps medical volunteers carry out diagnosis; treatment, including minor medical procedures, and referrals of patients.

He added that drugs, eye glasses and other medical consumables were also given to patients free of charge. In addition, he said the HIRD activities were ongoing simultaneously across the 36 states of the federation.

The community leader of Damaganza Hausawa community, Bello Musa, was full of appreciation that the NYSC chose his community for the HIRD event and wished that government would do more for them.

Eight years later, in 2022 during the flag of the HIRD programme in the first quarter, the wife of former president, Mrs. Aisha Buhari donated and inaugurated a mobile clinic for the NYSC as her contribution to the scheme in providing qualitative healthcare services to rural dwellers.

In her address, Mrs. Buhari, who was represented by the wife of a former Governor of Nasarawa State, Mrs. Mairo Al-Makura, said: “Like other Nigerians, I observed with great admiration, the critical role the NYSC played in the effort to contain the COVID-19 pandemic, especially at the peak of the surge in 2020.

NYSC DG, Brig. Gen. Yushu’a Ahmed “The intervention of the medical corps personnel who joined other frontline health workers, as well as thousands of other corps members that produced and distributed items such as face masks, hand sanitisers, liquid soaps, food and other palliatives further underscored the relevance of the scheme and heightened our hope in the NYSC.” While calling on federal and state legislators to include the provision of drugs as well as other medical consumables and logistics for the NYSC health initiatives for rural dwellers, she said it “would improve the healthcare services, which the team renders to their communities.”

It was at the event that the then DG of the NYSC, Maj. Gen. Shuaibu Ibrahim said since the commencement of the NYSC Health Initiative for Rural Dwellers, over four million rural dwellers had been reached in communities across the 36 states and the Federal Capital Territory, Abuja.

“In the course of the programme implementation, we have enjoyed the support of some government agencies, non-governmental organisations and philanthropists through the supply of drugs and other medical consumables,” he said.

In 2023, the NYSC took the HIRD programme to Malaysia IDP camp in Abuja. Over the years, the scheme has been providing medical care through the posting of medical graduates to both government, private and faith based hospitals in both urban and rural areas where they have been of immense support to the health sector where medical personal are not adequate to provide healthcare services to the general public.

The NYSC DG, Brig. Gen. Yushu’a Ahmed at the 2023 flag off of the HIRD programme at Malaysia IDP camp in Abuja said out of the four million persons

that have benefited from the scheme’s HIRD programme two million of them of them have been treated by corps medical personnel.

Speaking through the Director Legal Services, NYSC, Ahmed, he said: “I am pleased to report that, so far, about four million persons have been reached with more than two million of them treated by our Corps Medical Personnel under the auspices of the HIRD. The successes recorded since the inception of the programme are numerous, especially with lots of lives saved and positively impacted.”

Despite the impressive strides recorded under the programme, a lot still needs to be done to reach more communities in the country.

There is therefore the need for Nigerians, especially Corporate Nigeria, to support the HIRD programme.

The point was made by Gen. Ahmed on that occasion when he said: “It is worth mentioning that beside this intervention in the health sector, the NYSC is actively involved in other programmes targeted at nation-building and enhancement of the quality of lives of Nigerians.

“We implore other public spirited individuals, philanthropists and corporate organisations to contribute to the success of these worthy endeavours through technical and material support.”

According to the Director, Community Development Service (DCDS), Zainab Isah, the scheme has contributed immensely to societal development through various ways.

“In nearly five decades of the scheme’s existence, corps members have added value to the society in diverse ways especially through its Community Development Service component, which includes healthcare delivery, digital skills, education, construction, agriculture, advocacy/ campaign amongst others,” she said.

On the HIRD programme, she noted that the health sector has greatly benefited from it since its inception.

“Since its inception, the programme has recorded tremendous successes. Our target group has enthusiastically accessed the services availed by the Corps medical personnel which include treatment for a wide range of diseases,” she stated.

Also, the Secretary of the IDP camp, Ahmed Ibrahim, said they were very happy that the NYSC came to their camp to render health services to them and their families for free. He called on the government to provide manpower in the healthcare facilities around the camp.

“We are very happy that the NYSC are here to treat our people. But it is not every time we get such medical assistance. Most of the time, we go to the hospitals and we are asked to pay money but we don’t have.

“A lot of the time, our women deliver at home and if they can’t deliver at home we take them to the hospital where they ask us to pay N25, 000 or N50,000 and we don’t have such amounts to pay. Government should please help us by sending medical personnel to the healthcare centre around this place because most of the time when we go there, there is no doctor to attend to us,” Ibrahim said.

US-trained Health Practitioner, Chris Chukwunyere Empowers Youth to Enhance Access Mary Nnah CChris Chukwunyere, a 2023 Information Futures Fellow at Brown University School of Public Health, USA, is spearheading a groundbreaking project that harnesses the power of young Nigerians to expand access to correct and culturally appropriate health information.

This is by assessing health challenges and health information needs across communities in Nigeria.

With a vision to empower young people as agents of change, Chris’ initiative is transforming lives and inspiring a new generation of young leaders.

Under the project titled “Assessing the Prevalent Diseases Conditions and Health Information Needs Across Communities in Nigeria”, Chukwunyere collaborated with 40 young community influencers residing in semi-urban and rural areas across seven States in Nigeria and the Federal Capital Territory Abuja.

The project encompassed several key

Chris Chukwunyere components that facilitated the realisation of its goals. The first phase was identifying and recruiting young community influencers who are passionate about creating social impact.

These individuals were then equipped with

knowledge and resources to enhance their leadership capabilities and build their skill set in conducting comprehensive community health needs assessments.

The second phase involved conducting community health needs assessments, analysing the data, and reporting on the identified gaps.

By delving into the specific health challenges faced by communities, the project shed light on the urgent requirements for improvement and laid the foundation for tailored solutions.

Chukwunyere organised co-creation workshops, where young people took centre stage in developing youth-led local solutions aimed at addressing the health information gaps identified during the community health needs assessment.

These workshops fostered an environment of collaboration, innovation, and creativity, allowing the participants to envision transformative strategies to improve health outcomes in their respective communities.

Among the notable solutions created was Health Info Africa, a versatile digital platform that delivers health information using culturally appropriate messaging. This comprehensive

platform includes a website, a YouTube channel, and various social media platforms. Through the power of social media, the project reached an impressive audience of over 100,000 people within just one month. To further extend the platform’s reach, Chukwunyere plans to develop a user-friendly smartphone application, ensuring that health information is accessible to even more people.

The impact of Chukwunyere’s project extends far beyond the immediate results it has achieved.

By actively involving young people in the decision-making processes, the initiative has demonstrated that they possess the ability to contribute to the development of their communities. This project has empowered them to engage in advocacy, community mobilization, and collective action to drive meaningful change.

The 40 young participants in this project, who hail from rural and semi-urban communities, intimately understand the burden of health inequities, poverty, and disease within their communities, and their personal experiences served as the driving force behind their unwavering commitment to the initiative.

33

T H I S D AY ˾ AY, AUGUST 17 , 2023

NEWS

C.O.P.E,GE Healthcare UnveilABUS Machine ˾ ÖËØ ÞÙ ÝÍËØ Ͱ˜ͮ​ͮ​ͮ áÙ×ÏØ ÐÙÜ ÌÜÏËÝÞ ÍËØÍÏÜ ãÏËÜÖã Rebecca Ejifoma The Care Organisation Public Enlightenment (C.O.P.E) has partnered with the General Electric (GE) Healthcare to acquire the Automated Breast Ultrasound System (ABUS) to reduce breast cancer mortality.

'PS UIF GPVOEBUJPO UIJT OFX machine resonates with its vision to scan at least 2,000 women in Nigeria annually.

5IF 'PVOEFS BOE $&0 PG $ 0 1 & .ST &CVO "OP[JF mentioned these aims to journalists at the presentation of the ABUS in Lagos, where her staffers have hands-on knowledge of the use of the machine.

“The new machine will help to detect breast cancer early. And we will be able to reach out to more women,” she said.

"DDPSEJOH UP "OP[JF UIF new machine would help many women since it’s higher in women, adding, “Not forgetting the fact that men also have breast cancer, one in a hundred”.

'PS UIF $&0 JU JT HSBUJGZJOH to realise that women visit their facility every third Saturday of the month from 10 am to 2 pm. “Ordinarily, it costs about N15,000 to go for screening.

Our partners have allowed women to take advantage of our screening services at a free or subsidised rate.

“We want to mitigate the mortality rate of breast cancer in Nigeria. Women don’t need to die due to fear, ignorance, or poor healthcare,” she lamented.

While emphasising that TDSFFOJOH JT DSVDJBM "OP[JF cautioned women against the implications of late detention or accepting to self-examine or come out to get help.

At the launch, Prof. Emeritus of Obstetrics and Gynecology, Osato Giwa-Osagie, called for more breast cancer awareness.

He outlined: “If you are not aware of the existence of something, you are more at risk to have complications and die.”

Advocacy increases people’s knowledge, and with an increase in knowledge, there will be an increase in women taking the appropriate treatment.”

Osagie, also the Chairman of C.O.P.E, described the ABUS technology as a significant advancement not only for C.O.P.E but women generally.

With the ABUS machine in place, he encouraged women to undergo screening. “It is when you diagnose that you can start treating.

“Any technology that can ensure early diagnosis is a major step forward in cancer management,” he admitted.

Giving valuable insights on the benefits of the machine, the representative of GE, Natalie Botha, told the guests, “It is a standardised examination with many advantages in both screening and diagnostic settings.”

Accordingly, she said the machine not only increases the breast cancer detection rate but also improves the workflow and reduces the

examination time.

Among its long-term partners is Polaris Bank, whose representatives were on ground at the presentation of the machine.

Polaris Bank Group Head 4USBUFHJD #SBOE .BOBHFNFOU .S /EVOFDIF &[VSJLF JT confident that their vision aligns with C.O.P.E. He recounted their journey. i'PS PWFS àGUFFO ZFBST XF IBWF XPSLFE XJUI &CVOPMB "OP[JF a fantastic woman of passion, resilience and commitment.

“The bank is also contributing to the advocacy of cancer awareness. It’s essentially a form of corporate social responsibility, which has also become a sustainability journey for us. “Institutionally, XF IBWF IVNBOJUZ $43 TFFLing to intervene in areas that directly affect humanity like health, education, girl-child, men as focus.”

Cancer is better to prevent than cure. So we’ve been XPSLJOH XJUI .BEBN &CVO We have intervened, by way of screening, over 20,000 patients with breast cancer and supporting survivors with prosthetics.

“I’m happy that GE has come on board. It shows the integrity and reputation of managers of this project, making impacts in UIF DPNNVOJUZ T MJGF u &[VSJLF expressed. .FBOXIJMF PUIFS QBSUOFST C.O.P.E is proud of are Variant Advisory, Union Bank, )BSESPDL $BGF -BHPT 1à[FS and SKLD and more.

Hajia OJ Awa-Ibraheem Marks Birthday with Medical Outreach Mary Nnah To celebrate her birthday, serial entrepreneur and philanthropist, Hajia OJ Awa-Ibrahim recently held a medical outreach at the Anwar-Ul Islam High School, Oniwaya 3PBE %PQFNV -BHPT VAwa-Ibrahim said the medical outreach was a means of giving gratitude to Almighty God, adding, “It’s not been a bad year, so I have every cause to be grateful.”

The celebrant stressed further that medical outreach was something she always had at the back of her mind, including a housing project for those needi n g temporary s h e l t e r du e t o u nforeseen circumstances.

“Since the housing project will take a while to be realised, I had to embark on this drive so that I can impact my community. So, health and accommodation are two important projects for m e ” , s h e a d ded.

Speaking further on the idea behind the medical outreach, she said, “Health is one thing that we have always been particular about growin g u p a n d in these times that we are in, where money i s s c a rc e , p e o p l e t e n d to push health to the back of their minds, in place of eating a n d s h e l t e r. I b e l i e v e putting together an i n i t i a t i v e like this will help people to bridge that gap in the meantime while they stabilise themselves.”

FERTILITY

OLIGOHYDRAMNIOS (LOW AMNIOTIC FLUID) Part 1

A

mniotic fluid is a protective water-like fluid that surrounds the fetus (baby) in the uterus (womb) throughout pregnancy and is contained within a casing called the amniotic membrane or sac. It is an essential component of pregnancy and fetal development. Amniotic fluid is mostly water in the early stages of pregnancy. However, as the pregnancy progresses, the amniotic fluid changes composition and serves new functions.

The fetus begins to inhale and swallow amniotic fluid, which aids in the development of the lungs and digestive system. When amniotic fluid is swallowed, it is digested by the developing gastrointestinal system of the fetus, and the byproducts are excreted in the fetal urine on a regular basis. The amniotic fluid contains less water and more fetal urine around week 20 of gestational age.

Amniotic fluid that women normally carry ranges in volume from 500 to 1000 ml. The level may change depending on the mother, fetal weight, and gestational stage. However, throughout the pregnancy, the amount of amniotic fluid should remain above a set minimum.

It guards against infection, prevents umbilical cord compression, helps the fetus develop its muscles and limbs, and cushions their movements while inside the uterus. It also maintains the fetus’s temperature.

However, too little(Oligohydramnios) or too much amniotic fluid (Polyhydramnios) in the uterus is linked to abnormalities in foetaldevelopment and may lead to pregnancy complications.

While there are two types of amniotic fluid disorders, “Oligohydramnios” will be the subject of our attention for today.

WHAT IS OLIGOHYDRAMNIOS?

Hajia OJ Awa-Ibraheem “Besides, every part of Islam is about peace, love, care, reaching out, bridging the gap, and filling the vacuum for the less privileged, especially in our country, Nigeria where healthcare is not a very solid sector. Even if it is just for a day – just like today, someone’s life can be saved and that is more than enough for me”, she added.

On the choice of the Dopemu area for the outreach, she said, “I grew up around here, so I felt this should be my first point of call. I am not running a non-governmental PSHBOJ[BUJPO JU JT BO initiative for now, in line with expectations of me as a mother, wife and human being. Also, this is one of the things expected of me BT B .VTMJN UP SFBDI PVU to the less privileged in

whatever way we have been blessed, and give back.”

Awa-Ibrahim who emphasised that the project was carried out BT B .VTMJN JOJUJBUJWF added, “There are a lot PG .PTRVFT BOE UIFZ IBWF leaders. What we did was to give out the access card UP UIF EJGGFSFOU .PTRVFT and communities and we told them about what we were doing, and the place where it would be taking place. They were pleased and thankful for it.

The medical reach-out targeted 500 people, with doctors, pharmacists and nurses in attendance.

Also, about 20 patients who needed a referral to any General Hospital were catered for while gift packs were made available for all beneficiaries to take home.

With Dr. Kemi AILOJE drkemi@lifelinkfertility.com www.lifelinkfertility.com +2348033083580

Oligohydramnios is a pregnancy condition where there is insufficient amniotic fluid surrounding the fetus.

According to research, about 4% of pregnant women experience low amniotic fluid. In the last three months of pregnancy, when it is most prevalent.

Because amniotic fluid levels start to decline after 40 weeks of pregnancy, this rate increases to about 12% in those who are past their due date.

Low amniotic fluid (Oligohydramnios) may indicate an underlying condition or contribute to fetal health issues. These conditions may impair a baby’s growth or causes complication during labor and delivery.

CAUSES OF OLIGOHYDRAMNIOS

Oligohydramnios may be caused by numerous factors. It is typically brought on by conditions that hinder or reduce the production of amniotic fluid.

The following are some factors associated to oligohydramnios: r 1MBDFOUBM "COPSNBMJUJFT 8IFO UIF placenta is unable to supply the fetus with enough blood and nutrients, the fetus stops recycling fluid, which may result in a decrease in the amount of amniotic fluid. r -FBLJOH PS 3VQUVSF PG 'FUBM .FNbranes: This may be a gush of fluid or a slow constant trickle of fluid in the fetal membranes due to tear or uterine rupture which may result to low amniotic fluid levels. r .BUFSOBM )FBMUI $POEJUJPO " crucial component of the amniotic fluid is maternal water. Low amniotic fluid may be caused by the mother’s health.

Dehydration, or a lack of water, may lead to nutritional deficiencies

and poor tissue perfusion, which may be harmful to the developing fetus and the pregnant woman’s health.

Preeclampsia, also known as maternal hypertension, is a hypertensive condition that develops during pregnancy. Due to the placenta’s and fetus’s constrained blood supply, these conditions lead to a reduction in placental perfusion.

This could cause the fetus to receive less oxygen and nutrients, which could lead to oligohydramnios. .BUFSOBM EJBCFUFT JT B DPOEJUJPO JO which the kidneys may have to work extra hard to filter and absorb the extra glucose that accumulates in the blood.

Dehydration may result from the excess glucose and bodily fluids that are excreted in the urine when the kidneys are unable to keep up. r #JSUI EFGFDUT -PX MFWFMT PG BNOJPUJD fluid may be caused by congenital anomalies that may have an impact on the fetus’s kidney or urinary tract development and cause little urine production. r 1PTU 5FSN 1SFHOBODZ -PX levels of amniotic fluid may occur in post-term (pregnancies lasting over 42 weeks), which may be caused by deteriorating placental function. r 5XJO UP 5XJO 5SBOTGVTJPO Syndrome:Identical twins and higherorder multiples who share a placenta may develop this serious disorder.

This happens when the placentas of the babies are connected at the blood vessels. Due to this, one baby (this twin is called the recipient) receives more blood flow, whereas the other baby (this twin is called the donor) receives insufficient blood flow. In this state of transfusion, the donor twin has less blood volume, which slows down the development and growth, as well as less urinary output, which results in a lower level of amniotic fluid than normal.

SIGNS AND SYMPTOMS OF OLIGOHYDRAMNIOS

The following are common signs and symptoms of oligohydramnios. However, each woman may have a unique set of symptoms which may include: r "NOJPUJD áVJE MFBLBHF XIFO UIF DBVTF is an amniotic sac rupture r %FDSFBTFE BNPVOU PG BNOJPUJD áVJE than expected on ultrasound scan r .FBTVSFNFOU PG UIF VUFSVT JT TNBMMFS than expected for the gestational age r 4NBMMFS BCEPNFO TJ[F GPS UIF gestational age r 4MPX IFBSUCFBU PG UIF GFUVT r 5IF DMJOJDJBO DBO FBTJMZ GFFM UIF GFUVT when abdomen of the mother is touched r -FTT GSFRVFOU GFUBM NPWFNFOUT UIBO usual r -PXFS NBUFSOBM XFJHIU UIBO OPSNBM for the gestational age

34

T H I S D AY THURSDAY, AUGUST 17, 2023

BUSINESS/MONEYGUIDE

FBS Re Records Over N16 Billion Gross Written Premium Nume Ekeghe In just its second year of operation, the newly established reinsurer, FBS Reinsurance Limited (FBS Re), has announced that it achieved a gross written premium of N16.6 billion.

Chairman, Board of Directors, Bala Zakariyau wdo disclosed this at the company’s 2nd Annual General Meeting (AGM) held in Abuja, said FBS Re grew its gross written premium by 110 per cent to N16.589 billion from N7.906 billion recorded in 2021.

He added that its underwriting profit also grew by 545 per cent from N813 million in 2021 to N5.244 billion, which according to the company was driven by prudent risk management and operating costs.

Zakariyau said FBS Re’s

financial performance just in its second year of operation is a testament to the resilience of its applied business model.

He said despite environmental challenges, the company gained positive results in the critical areas of market share growth and profitability.

Zakariyau also disclosed that the company achieved an investment income of N1.050 billion in 2022 financial year, as against N275 million in 2021.

“Profit after tax rose to N2.491 billion, a 544 per cent increase from N387 million achieved in 2021. I am particularly pleased to report that the results were achieved mainly by delivering better services to our cedants and brokers.

“We shall continue to keep

our promises, as has been anointed in our name – ‘For Better Services’ and create sustainable value addition for all our stakeholders, “Zakariyau said.

The territorial distribution of premiums of the Company shows that the Nigerian market contributed 69 percent of the total, followed by the Ghana market with 17 per cent, while Francophone and the rest of Africa contributed 5 per cent and 7 per cent respectively.

The Chairman also hinted that FBS Re will be embarking on a guided expansion program into other markets and territories outside its traditional Anglophone Zones.

“This expansion will focus on Central, East, and Southern African territories as we continue to study the North African markets.”

Executive Director, Investment Management and Oversight, FBN Holdings, Mr. Oyewale Ariyibi; Group Managing Director, FBN Holdings, Mr. Nnamdi Okonkwo; Group Chairman, FBN Holdings, Alhaji Ahmad Abdullahi; Chief Executive Officer, First Bank of Nigeria Limited, Dr. Adesola Adeduntan and Ag. Company Secretary, FBN Holdings, Mr. Adewale Arogundade, unveiling the FBN Holdings Annual Report and Accounts 2022 during the 11th Annual General Meeting of FBN Holdings, held at its head office in Marina, Lagos…recently

Neveah Rakes-in N8.9bn from Commercial Paper Issuance Kasim Sumaina ÓØ ÌßÔË A leading commodity trading company, Neveah, has announced the completion of its Series 6-13 Commercial Paper Issuances, wherein a cumulative amount of N8.9billion was raised.

The series 6-13 issuances, Neveah rsaid, were well received and subscribed to by a wide range of investors including asset managers, insurance companies, Pension Fund Administrators (PFAs) and

trustees, in addition, the issuance received the approval of FMDQ Securities Exchange Limited (“the Exchange”).

The Chief Executive Officer, Mr. Ibidapo, told Journalists that the successful completion of the Series 6-13 Commercial Paper Issuance affirms the company strategic objective to evolve into a leading dealer and exporter of world-class quality solid minerals and agro commodities to its clients, while ensuring a transparent business approach.

The successful debt financing rounds, he said, came on the heels of ratings of A1 (shortterm) and an upgraded rating of BBB+ (long-term) with a positive outlook retained from DataPro Ratings.

Lawal said: “our goal is to become the apex export firm for solid minerals and agro products in Nigeria. This issuance will help meet our working capital needs and further enhance our capacity to achieve our goals.

We are grateful to all the parties who made this a success.”

NGOsTrainYouths on Agribusiness Innovations, Capacity Building Kemi Olaitan ÓØ ÌËÎËØ Towards complementing efforts of government at creating young entrepreneurs within the agricultural sector, two Non-Governmental Organisations (NGOs), Horti Nigeria and Onelife Initiative, have trained and empowered about 110 youths and women in Oyo State.

The participants drawn from all the 33 local government areas in the state were trained and empowered with knowledge, skills and equipment to increase cucumber production and productivity, as part of activities to mark the celebration of the International Youth

Day 2023.

The Executive Director, Onelife Initiative, Sola Fagorusi, speaking at the free workshop with the theme, “Profitable Innovations in Boosting Cucumber Production and Productivity on at Least Two Plots of Land,” said the organisation serves as the Innovation and Business Support Service (IBSS) provider for the Horti Nigeria Project in the state, emphasising the importance of including youth in agribusiness innovations and capacity strengthening.

According to him, “We want the youth to see the business behind agriculture. If the government can clear farming areas around dams and provide

young people with access to the land, it will create tremendous opportunities. Just imagine if Governor Seyi Makinde’s administration offers 100,000 hectares of cleared and fully irrigated land, specifically for young people to produce the space we have will not occupy the young people.”

The representative of Horti Nigeria, Bisi Ilebani, said the objective of the programme funded by the Embassy of the Kingdom of the Netherlands, was to promote a youth agenda within the horticulture sector and encourage the participation of young people in entrepreneurial hubs created in Oyo and Ogun states.

Medic W’Africa Exhibition & Conference Returns Medic West Africa Exhibition and Conference, the largest gathering of healthcare trade professionals in West Africa, will be making its highly-anticipated return to Landmark Center in Lagos.

The event, which hosted 3,260 healthcare professionals from 84 countries in its 2022 edition and facilitated USD 30 million in business deals, returns to bridge the gap by providing an unmatched platform for leaders to debate and shape the future of our region’s healthcare landscape.

The upcoming Medic West Africa conferences will include sessions presented by notable organizations such as the Healthcare Federation of Nigeria, the Association of Nigerian Private Medical Practitioners, and the Society

for Quality in Health Care in Nigeria.

Exhibition Director, Medic West Africa, Tom Coleman, in his comments about the mission to transform the healthcare infrastructure in the region, said: “With its rapidly growing population, West and Central Africa has an ever-increasing demand for quality healthcare services.

Whilst governments have made significant investments to improve healthcare infrastructure and expand access to medical facilities, Medic West Africa is instrumental in driving the progression of the healthcare industry by creating a conducive environment for businesses and stakeholders to connect, discourse, and explore the latest healthcare advancements

in healthcare technology and solutions.”

Registrar and CEO, Medical Laboratory Science Council of Nigeria (MLSCN), Dr Tosan Erhabor, explains: “As a regulator, the Medical Laboratory Science Council of Nigeria is committed to strengthening health laboratory systems and professional practice for quality services. In this regard, we have developed the Quality Tripod to drive our processes for excellent service delivery to the stakeholders.

We see this partnership with Medic West Africa to launch Medlab as a veritable platform to promote dialogue within the stakeholders in furtherance of our mandate to bequeath a culture of accurate and reliable medical laboratory test results to the entire citizenry.

MARKET INDICATORS MONEY AND CREDIT STATISTICS (MILLION NAIRA) MARCH 2023 Money Supply (M3)

54,634,063.50

-- CBN Bills Held by Money Holding Sectors

442,402.18

Money Supply (M2)

54,191,661.32

-- Quasi Money

32,839,133.46

-- Narrow Money (M1)

21,352,527.87

---- Currency Outside Banks

1,445,439.42

---- Demand Deposits

119,907,088.45

Net Foreign Assets (NFA)

5,992,904.55

Net Domestic Assets(NDA)

48,641,158.95

-- Net Domestic Credit (NDC)

70,596,115.20

---- Credit to Government (Net)

27,529,720.19

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

43,066,395.01

--Other Assets Net

11,123,812.79

Reserve Money (Base Money

15,975,739.59

--Currency in Circulation

1,683,498.35

--Banks Reserves --Special Intervention Reserves

14,292,241.24 419,889.49

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

April 2023

Inter-Bank Call Rate

15.80

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

18.00

Treasury Bill Rate

5.73

Savings Deposit Rate

4.59

1 Month Deposit Rate

7.32

3 Months Deposit Rate

7.92

6 Months Deposit Rate

9.84

12 Months Deposit Rate

8.18

Prime Lending rate

14.05

Maximum Lending Rate

28.59

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT 17 JULY, 2023

The price of OPEC basket of thirteen crudes stood at $82.06 a barrel on Friday, compared with $81.53 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), Basrah Medium (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 ˾ AY, ͯ͵˜ 2023

35

MARKET NEWS

Stock Market Depreciates by N13bn to Maintain Bearish Run KayodeTokede The stock market of the Nigerian Exchange Limited (NGX) yesterday stretched its bearish performance for a fourth straight session, as losses in Airtel Africa Plc and 21 others dragged the overall capitalization lower by N13 billion.

The All-Share Index (NGX ASI) lost 303.70 basis points or 0.47 per cent to close at

64,625.28 basis points. Also, market capitalisation declined

by N13 billion to close at N 35.370 trillion.

As a result, the stock market year-to-date (YTD) return fell to 26.10 per cent.

The downturn was driven by price depreciation in large and medium capitalised stocks amongst which are; Airtel Africa, NEM Insurance, Fidelity Bank, Guaranty Trust Holding

P R I C E S MAIN BOARD

Company (GTCO) and Transcorp Hotel.

As measured by market breadth, market sentiment was negative, as 17 stocks gained relative to 22 losers. Eterna emerged the highest price gainer of 10 per cent to close at N17.60, per share.

Computer Warehouse Group (CWG) followed with a gain of 8.61 per cent to close at N3.28, while FTN Cocoa processors rose by 6.97 per cent to close at N2.15,

F O R

S E C U R I T I E S

DEALS

MARKET PRICE

QUANTITY TRADED

per share.

Livestock Feeds increased by 5.56 per cent to close at N1.90, while Vitafoam Nigeria added 4.78 per cent to close at N21.90, per share. On the other side, NEM Insurance led the losers’ chart with 10 per cent to close at N5.40, per share. SUNU Assurance followed with a decline of 8.51 per cent to close at 86 kobo, while Guinea Assurance shed 7.89 per cent to close at

T R A D E D

VALUE TRADED ( N )

MAIN BOARD

A S O F

35 kobo, per share.

Cornerstone Insurance depreciated by 7.09 per cent to close at N1.31, while Omatek Ventures down by 5.88 per cent to close at 32 kobo, per share.

The total volume traded rose slightly by 4.01 per cent to 291.714 million units, valued at N7.432 billion, and exchanged in 6,213 deals. Transactions in the shares of GTCO led the activity with 41.747 million shares worth

N1.553 billion. Universal Insurance followed with account of 22.841 million shares valued at N5.169 million, while United Bank for Africa (UBA) traded 22.553 million shares valued at N315.379 million.

Sterling Financial Holdings Company traded 21.643 million shares worth N76.981 million, while Transnational Corporation traded 15.703 million shares worth N62.653 million.

AU G U ST / 1 6 / 2 3 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

36

THURSDAY, ͹Ϳ˜ ͺ͸ͺͻ ˾ T H I S D AY

േ േ

േ

7 R S 7 U D G H V E \ 9 R O X P H

7 R S * D L Q H U V

T ic k er

P ric e

P ric e C hg %

T ic k er

Vo lum e

P ric e C hg %

ET ER N A

17.60

10.0%

GT C O

41.7

-0.5%

C WG

3.28

8.6%

UN IVIN SUR E

22.8

4.5%

7.0%

UB A

22.6

0.0%

21.6

-0.3%

F T N C OC OA

2.15

LIVEST OC K

1.90

5.6%

ST ER LIN GN G

VIT A F OA M

21.90

4.8%

T R A N SC OR P

15.7

0.0%

UN IVIN SUR E

0.23

4.5%

F ID ELIT YB K

15.0

-3.9%

B UA F OOD S

139.85

4.4%

C H IP LC

13.9

0.0%

UA C N

10.70

3.9%

FCM B

11.1

-2.8%

F ID SON

14.99

3.4%

A C C ESSC OR P

11.1

-0.6%

D A N GSUGA R

34.00

3.0%

Z EN IT H B A N K

10.8

0.1%

7 R S 7 U D G H V E \ 9 D O X H

7 R S / R V H U V

േ

T ic k er

P ric e

P ric e C hg %

T ic k er

Value

N EM

5.40

-10.0%

A IR T ELA F R I

1817.8

P ric e C hg % -5.3%

SUN UA SSUR

0.86

-8.5%

GT C O

1552.9

-0.5%

GUIN EA IN S

0.35

-7.9%

M TNN

1106.1

0.0%

C OR N ER ST

1.31

-7.1%

Z EN IT H B A N K

369.8

0.1%

OM A T EK

0.32

-5.9%

UB A

315.4

0.0% 0.0%

1.06

-5.4%

D A N GC EM

279.9

A IR T ELA F R I

1250.00

-5.3%

SEP LA T

215.5

0.0%

M ULT IVER SE

3.00

-4.8%

A C C ESSC OR P

186.8

-0.6%

N EIM ET H

1.51

-4.4%

ET ER N A

133.3

10.0%

-3.9%

D A N GSUGA R

124.1

3.0%

UP D C

F ID ELIT YB K

7.30

37

THURSDAY, AUGUST 17, 2023 • T H I S D AY

MARKET NEWS A Mutual fund (UnitTrust) 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 InvestmentTrust) 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 15-Aug-2023, 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 256.08 257.23 35.32% Afrinvest Plutus Fund 100.00 100.00 7.14% Nigeria International Debt Fund 333.42 333.42 11.35% Afrinvest Dollar Fund 107.78 108.88 4.08% 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 11.80% AIICO Balanced Fund 4.43 4.52 30.88% 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 7.94% Anchoria Equity Fund 185.97 188.34 28.30% Anchoria Fixed Income Fund 1.28 1.28 4.17% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com info@anchoriaam.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 28.70 29.57 30.80% ARM Discovery Balanced Fund 629.00 647.97 20.68% ARM Ethical Fund 48.97 50.44 8.54% ARM Eurobond Fund ($) 1.15 1.15 1.89% ARM Fixed Income Fund 1.14 1.14 2.49% ARM Money Market Fund 1.00 1.00 9.21% ARM Short Term Bond Fund 1.04 1.04 0.24% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund N/A N/A N/A AVA GAM Fixed Income Naira Fund N/A N/A N/A AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.23 2.23 9.80% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.78 2.84 -1.72% CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.02 1.02 5.24% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 10.64% Paramount Equity Fund 24.14 24.66 39.91% Women's Investment Fund 182.07 185.33 28.70% CHD Nigeria Bond Fund 98.81 98.81 12.11% CHD Nigeria Dollar Income Fund 1.00 1.00 11.33% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 8.52% Cordros Milestone Fund 154.16 155.40 20.47% Cordros Fixed Income Fund 107.35 107.35 9.79% Cordros Halal Fixed Income Fund 104.62 104.62 5.84% Cordros Dollar Fund ($) 112.71 112.71 7.27% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn 1.00 1.00 8.40% Coronation Money Market Fund 1.43 1.44 25.33% Coronation Balanced Fund 1.40 1.40 2.77% Coronation Fixed Income Fund 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 N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A 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 13.39% Emerging Africa Bond Fund 1.07 1.07 10.53% Emerging Africa Balanced Diversity Fund 1.26 1.26 37.78% Emerging Africa Eurobond Fund 104.98 104.98 5.50% 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 1579.53 1579.53 11.72% FBN Balanced Fund 253.93 256.29 27.16% FBN Halal Fund 132.37 132.37 13.15% FBN Money Market Fund 100.00 100.00 9.83% FBN Dollar Fund 125.13 125.13 7.14% FBN Smart Beta Equity Fund 234.60 237.60 41.66% FBN Specialized Dollar Fund 110.65 110.65 9.52% 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 7.38% Legacy Debt Fund 3.52 3.52 -1.41% Legacy Equity Fund 2.61 2.66 30.49% Legacy USD Bond Fund 1.30 1.30 3.40% 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 5,138.80 5,173.44 35.57% Coral Income Fund 3,889.53 3,889.53 7.69% Coral Money Market Fund 100.00 100.00 9.67% FSDH Dollar Fund 1.17 1.17 6.11%

GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.gtcoplc.bank; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Guaranty Trust Money Market Fund 100.00 100.00 9.46% Guaranty Trust Balanced Fund 3.66 3.73 21.18% Vantage Guaranteed Income Fund 1.00 1.00 7.31% Guaranty Trust Equity Income Fund (VEIF) 1.66 1.71 27.76% Vantage Dollar Fund (VDF) - June Year End 1.10 1.10 8.09% 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 1.79 1.82 12.30% Lotus Halal Fixed Income Fund 1,189.65 1,189.65 6.43% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 15.99 16.10 38.05% Meristem Money Market Fund 10.00 10.00 10.64% 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) 102.87 102.87 11.66% Norrenberger Money Market Fund (NMMF) 100.00 100.00 11.80% Norrenberger Dollar Fund (NDF) ($) 102.52 102.52 12.17% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.99 2.05 27.00% PACAM Fixed Income Fund 11.91 12.28 8.12% PACAM Money Market Fund 10.00 10.00 10.35% PACAM Equity Fund 1.93 1.97 36.47% PACAM EuroBond Fund 127.97 131.90 15.26% SCM CAPITAL ASSET MANAGEMENT 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 The Frontier Fund 162.36 166.94 1.15% 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 1.07 1.07 10.08% 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 4,576.04 4,613.38 35.00% Stanbic IBTC Bond Fund 252.71 252.71 7.28% Stanbic IBTC Ethical Fund 1.92 1.94 53.17% Stanbic IBTC Guaranteed Investment Fund 344.49 344.49 10.02% Stanbic IBTC Iman Fund 340.40 344.23 45.68% Stanbic IBTC Money Market Fund 1.00 1.00 9.31% Stanbic IBTC Nigerian Equity Fund 16,331.54 16,521.87 49.54% Stanbic IBTC Dollar Fund (USD) 1.43 1.43 10.29% Stanbic IBTC Shariah Fixed Income Fund 125.41 125.41 7.27% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 121.67 121.67 14.38% Stanbic IBTC Absolute Fund 4,830.42 4,830.42 13.55% Stanbic IBTC Aggressive Fund 4,655.53 4,712.89 67.44% Stanbic IBTC Conservative Fund 4,979.97 5,004.60 30.89% 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 1.22 1.23 33.44% United Capital Balanced Fund 1.70 1.71 31.54% United Capital Wealth for Women Fund 1.34 1.35 24.40% United Capital Sukuk Fund 1.13 1.13 11.72% United Capital Fixed Income Fund 1.90 1.90 6.89% United Capital Eurobond Fund 121.84 121.84 5.74% United Capital Global Fixed Income Fund 1.05 1.05 8.70% United Capital Money Market Fund 1.00 1.00 9.10% Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund N/A N/A N/A Zenith ESG Impact Fund N/A N/A N/A Zenith Income Fund N/A N/A N/A Zenith Money Market Fund N/A N/A N/A 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 6.65 6.75 65.00% Vetiva Consumer Goods Exchange Traded Fund 8.77 8.87 49.67% Vetiva Griffin 30 Exchange Traded Fund 23.09 23.29 30.41% Vetiva Money Market Fund 1.00 1.00 9.74% Vetiva Industrial Goods Exchange Traded Fund 28.00 28.20 39.92% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 147.83 149.83 -6.26%

REITS NAV Per Share

Yield / T-Rtn

121.54 54.96 101.29 10.08

6.80% 3.66% -11.73%

Bid Price

Offer Price

Yield / T-Rtn

20.61 102.85 219.61 17.40 16.40

20.71 102.85 219.61 17.50 16.50

33.06% -20.10% 117.76% 37.06% 59.38%

NAV Per Share

Yield / T-Rtn

108.39

0.00%

Fund Name

SFS REIT Union Homes REIT Nigeria Real Estate Investment Trust UPDC 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

I N F R AST R U CT U R E F U N D 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.

THURSDAY, AUGUST 17, 2023 ˾ T H I S D AY

38

GAMINGWEEK

Edited by NSEOBONG OKON-EKONG | ikotibok@gmail.com | Tel: 08114495324

Sheriff Olaniyan: Sport Betting Operators Pay €80,000 Monthly to European Providers Sheriff OIaniyan, founding partner of the sports betting company, Surebet247, has the history of the gaming industry in Nigeria at his fingertips. The GAMINGWEEK TEAM had a lively discussion with him on all aspects of the business That doesn’t quite describe your journey in the industry. Where was your first job? was born in Lagos but I grew up in Ibadan.

I went to Methodist Primary School, Bodija.

From there I went to Loyola College, and after finishing Loyola College, I got admission to the University of Ilorin. I did a four-year course in Geography and after graduating, I was lucky to find myself overseas seeking further education.

After seven years, I came back to Nigeria and I moved into business.

I am the cofounder of the company SureBet247.

We started gaming around 10 years ago, when the industry actually started. A couple of us were active players at that time, and up till now, we are still in the industry. I went to the University of Ilorin and studied Geography (BSc). I moved into business immediately after that. I travelled in between, and then I came back to Nigeria. I went straight into business and luckily, I found myself in this great industry, where I still play.

I

We’re trying to find out your first job in the betting industry.

There was no first job. When I came back to Nigeria, I was actually into construction. I was into thermoplastic road marking. We were one of the first companies to do the marking in Nigeria, with a friend. After that, a cousin who has a flair for football, spoke about gaming back-to-back, and we decided to go on the journey. Luckily, the first player in the industry was active then, but it was more online, and we felt okay, “We can duplicate this in the retail space as well.” Then we started that journey with research, calling the providers until we were able to start.

What company was that?

That was NairaBet. The co-owner of NairaBet is your cousin?

My cousin was working with a guy called Dotun Adegbile. Adegbile was with 1960Bet. And then he left 1960Bet. I think they had a startup together. They started a brand together, and then he left 1960Bet, and then we started our own, SureBet247. We were the number three industry founder in Nigeria.

Sometimes, we see SureBet; other times it is SureBet247. Are they separate companies?

It is one company. A lot of people kind of find it easier to say, ‘SureBet,’ but it is SureBet247. Because SureBet247 is owned by someone else, we don’t know where he is in the world. We couldn’t buy the domain name. So we had to coin ours as the word is very easy and straightforward to pronounce – SureBet. We hear that the IT backbone supporting this industry is mostly domiciled in Europe, and it takes a good chunk of your revenue. Why is that? Is it that it cannot be done in Nigeria?

Not really. But it takes experience and time. Yeah 90 per cent of the operators in Nigeria, to be precise, actually kind of rent a platform to operate on. There are different models to get this platform: It is either you rent outright, or you take their sportsbook, and then you create every other thing around it.

In the beginning, we started with renting from the platform, and then later on realised it’s difficult when it’s not in their plan for the year or if it is not economical for them to do whatever request an individual wants, they will not do it for you.

So, it will take forever. Meanwhile, a competitor is doing something different that is bringing in more revenue for them or more traction, and you need to do something similar to that, but your provider will take forever to do. So, we know it is difficult.

Then we started seeking for who can do the same platform in Nigeria, but we realise, yes, we have brilliant minds in Nigeria that can start up with platform development, but it also requires experience and knowledge. Because if you look front and back, you see that this industry is over 75 years old in Europe, especially in the UK where gaming started. If you look at that trajectory of people, learning to code, making mistakes, refining it to date, the industry in Nigeria is just 10 years old. It’s not something someone would just wake

Olaniyan up one day, being a super-programmer and just quickly put everything together. We have brilliant minds that are working on this. We might not know them, but I am very sure they will soon be out there.

It is doable, but it takes time.

What percentage of your revenue goes into these platform providers in Europe?

This goes into models as well. Some people rent out; some do a revenue share model. Plus or minus, depending on the platform you’re using, you might be spending a minimum average, for a very wonderful platform, maybe €80,000 a month to providers. The reason is that these providers also have overhead costs they carry for you in terms of where your server is, the feeds. A lot of times, there’s something called feeds, which is an accumulation of different data on sports that we market to the people in Nigeria. You also need to have a humongous number of traders.

It is trading, it is not just gambling. People think “Oh, we go into sports betting, it is gambling.” There are a set of mathematicians that are balancing your books, looking at, “Oh, there’s too much wager on maybe Chelsea to beat a third-tier group, if they happen to meet. They need to make sure that your feeds or they trade in such a way that you have a balancing out in terms of your risk.

The cost to different people varies based on

this element of traders, the number of traders that they use for you, and the type of feeds you get. We have an international company. What they do mostly is collect data from different companies, and when they do this, it is also at a cost to them.

The collection of different things encompasses what we call a platform. That is what determines the cost that individual providers will charge you. Sometimes you can go to them at an average of, ‘Oh, I want a small platform with medium-sized feed’. That means you won’t be able to compete actively with people that are taking bigger platform with bigger pay. For us, it is around €50,000 every month to manage our platform.

We had a break two years ago to reevaluate the space in which we’re playing and the cost implication, knowing fully well the incessant dollar rate fluctuations and the cost that it brings to the company.

How much it generates in comparison to what you pay providers. We realised building a platform is the way forward, and it took us two years, precisely, to go out, and find a suitable partner, that we are going to have our feed with them, we’re going to have our development, what suits this particular country of ours, Nigeria.

Most times, when Europeans bring their platforms to Nigeria, it’s totally not the same market. We always take time to see what suits the people and what is economically good for us. So, we went out, and we were able to build a platform for two years. Right now, we don’t rent a platform anymore. We own the platform ourselves.

We only took a sportsbook, which is difficult to get in terms of people collecting data from different countries.

So we took that, but we had to hire experts to do that for us.

Where is this platform domiciled? In Europe?

Yes, it is.

Being the third indigenous operator in Nigeria must be a feat that you still exist. We like to know how SureBet247 came to be and your growth story.

I would say it’s a bit of luck, but mighty hard work.

I can remember vividly then when we started… If anybody says, “Oh, I know how to gamble” today, it’s the work of people like us because we’re training people from state to state, doing little seminars in the quest of onboarding agents because the model then was not to own all the outlets, but to give people the opportunity to also make out of what you make, meaning, spreading the gospel. We started clearly with an idea like, “Okay, this is what we’re

“We created a monster of a success story.

I think it’s a good thing. I feel good with myself every day that whatever happens tomorrow if we lose everything, My name will still be written in gold: Founding member of the gaming industry in Nigeria. I think we’re a perfect example for anybody.”

ADVISORY: +18 PERSONS UNDER 18 MUST NOT PARTICIPATE IN BETTING, GAMING OR LOTTERY ACTIVITY

going to do.” We didn’t have an office then. Then we created our first shop in Ajegunle; in a place called Tolu, which is the first shop for SureBet247.

It was a fun time because every day you wake up, you’re interested in that journey going from your house. I live in Lekki. Every day, I moved to Ajegunle in the morning, seeking for people to come and play and then we made jingles around the neighbourhood, and then we started getting the traction, and people started coming into the shop.

Before that, as I said earlier, we had NairaBet which was predominantly online, then we had 1960Bet, and then we had SureBet. The competition was more between SureBet and 1960Bet, which was one of the biggest brands at that time. We were competing day in, day out.

We had our issues along the line. I will tell you no entrepreneur will say, ‘Oh, it’s always an easy ride’.

There are a couple of times, I was supposed to be out of business. I have to pick up the phone, manage the providers and tell them we are expecting money.

We were looking for N1 million as a matter of fact, that was 10 years ago. We tried to pay a provider at a particular point because we exhausted our money.

I was the accountant, the admin, and my partner, Olasupo Badmos, was also multitasking. So being in front of the bank when we have winnings in our car, we went to the bank when they called, and we paid. Then we recruited two brilliant guys. They were working with us. We went from place to place.

We put our equipment in the booth of the car, and when we saw someone that has a good shop, we talked to them and asked them to be our agent. If they were interested in being an agent, we set them up immediately. We’ll teach them and we’ll let the guys go there back and forth to also train them on how to place bets.

It became like muscle memory for us on how to set people up, and at that time, people were going online. Honm Akin Alabi, the owner of NairaBet, came from England, as well to start the business.

So we felt, ‘Okay. At this point in our life, if we’re seeing this traction, how do we raise money? How do we go out there?’ But trust me, we visited almost all the banks, they kept telling us it is not bankable, it is high risk. It was hard to explain to them, ‘Oh, there is a logic behind this. This is not just going into it and thinking you will make money overnight. You need to be consistent at this, there is a mathematical formula behind it. There is a level of exposure that you want to carry’. You might say, ‘Oh I’m available for 50 million, 100 million exposure’, whereas at that time, I’ll have to be sincere, not like we were even managing the exposure. People did not know how to bet at that time. They were only taking 1x2, which is: home, draw, away, and that is what they wager on.

The winning was very low at that time, and we were gradually building the treasure chest until we were able… and we were going to seminars, now and then we travel, and we had to visit state- by-state doing seminars. There was fierce competition which was one way the industry grew aggressively. Then we also have people coming in from out of town, they want to visit the company, and we didn’t have an office. Remember, we were just moving around. We had to get a small office.

We were in that office for eight years. We were constantly bringing people, training people, and getting people to know how to bet.

The story continues online on www.thisdaylive.com

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T H I S D AY ˾ ͯʹ˜ 2023

IMAGES

Former Nigerian President, Chief Olusegun Obasanjo (middle) receiving an Award of Special Leadership Excellency from the General Overseer of The Gospel Faith Mission International (GOFAMINT) Pastor Elijah O. Abina (left), and GOFAMINT General Secretary, Pastor Femi Omowumi (right), during the church 67th anniversary and 57th annual international convention held at the Gospel City on Lagos- Ibadan Expressway, Ogunmakin in Ogun State…recently

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Photo Editor Abiodun Ajala Email abiodun.ajala@thisdaylive.com

Wife of the Ooni of Ife, Her Majesty, Olori Temitope Enitan Ogunwusi (left), presenting a souvenir to the Director-General of the National Youth Service Corps (NYSC), Brigadier-General Yushau Dogara Ahmed (right), during her visit to the NYSC National Directorate headquarters in Maitama, Abuja…recently

L-R: Convener, Coalition for the Survival of Nigeria (CSN), Benue State, Mr. Loverty Makyur; Chairman of CSN, Taraba State, Chief Ezekiel Afukonyo; and CSN representative from Adamawa State, Prince Hussein Tanyis, addressing journalists on the state of the nation in Abuja…recently PHOTO: ENOCK REUBEN

Former Managing Director/Chief Executive Officer, Nigeria LNG, Amaopusenibo Tony Attah (left), and his wife, Amaopuorubo Oma Attah (right), at the conferment of their chieftaincy titles of Aare Gbobaniyi and Yeye Aare Gbobaniyi of Owu Kingdom respectively by His Royal Majesty Oluyalo Otileta VII, Olowu of Owu Kingdom, Prof. Saka Adelola Matemilola, during his first coronation anniversary on the throne in Abeokuta, Ogun State…recently

Osun State Governor, Senator Ademola Adeleke (middle); Nigerian Super Falcons players, Rofiat Imuran (left) and Rasheedat Ajibade (right), during a courtesy visit to the governor at his residence in Ede (Osun State) after they(Super Falcons) crashed out of the ongoing 2023 Fifa Women World Cup tournament being held in Australia and New Zealand…recently

L-R: Mrs. Florence Adama; the Queen of Apomu Kingdom, Olori Janet Afolabi; Mrs. Funke Jegede, and Mrs. Angela Owumi, all members of St Theresa’s College Old Girls Association during the maiden Apomu Adire festival sponsored by Bi-Courtney Aviation Services Limited in Apomu, Osun State…recently

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THURSDAY AUGUST 17, 2023 •T H I S D AY

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THURSDAY, ͹Ϳ˜ ͺ͸ͺͻ ˾ T H I S D AY

NEWS

STAKEHOLDERS’ WORKSHOP ON THE STATE’S NEW LAND USE CHARGE LAW...

L-R: Special Adviser to the Governor on Media Projects, Crusoe Osagie; Chief of Staff to the Governor, Hon. Osaigbovo Iyoha, and Edo State Governor, Mr. Godwin Obaseki, during a stakeholders’ workshop on the state’s new Land Use Charge Law, themed: “Joint Implementation of LUC by State and Local Governments,” at the Government House, in Benin City, ... yesterday

NUPRC: Allegation of Non-delivery of Crude to Local Refiners Untrue, 3.6m Barrels Conveyed Emmanuel Addeh in Abuja The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) last night refuted the accusation of its failure to enable the delivery of crude to domestic refiners, particularly modular refineries, noting that between September 2021 and May 2023, 3,614,936 barrels of crude were conveyed to three local facilities in the country.

The local refiners have for years complained that despite their willingness to pay for every barrel of oil supplied, they had not been getting feedstock for their facilities, a development that had negatively impacted their investments and stifled growth in the sector.

But in a statement issued in Abuja, the upstream regulator led

by Gbenga Komolafe, indicated that only refineries that comply with

the relevant requirements of Section 109 of the Petroleum Industry Act, 2021 were entitled to crude supply.

Between January 2019 and August 2021, the period before the PIA came into effect, it stated that over 1.7 million barrels of oil were supplied to two refineries that met the requirements of the law as at the time.

The two refineries, it added, are operated by Walter Smith and Niger

Delta Petroleum Resources (NDPR), while the post-PIA supplies were made to Walter Smith, NDPR and OPAC refineries.

It stated that the Commission recently granted approval for Millennium Oil and Gas Limited to supply by trucking 60,000 barrels of crude oil at the rate of 20,000 barrels per month for three months to OPAC and Duport refineries in Edo State.

Heavy Metal Poisoning Found in Bayelsa Residents, Dickson Raises Alarm Sunday Aborisade in Abuja

The Senator representing Bayelsa West Senatorial District in the National Assembly, Seriake Dickson, yesterday, said many residents of the oil-rich state were suffering from heavy metal poisoning.

The former governor of Bayelsa State, blamed the development on the activities of the various multinational oil companies in the Niger Delta region.

Dickson, who is the Chairman, Senate Committee on Ecology and Climate Change, stated this while receiving the Excellence in Environmental Leadership award.

It was conferred on him by a Coalition of 20 Non-Governmental Organisations with core values on Environment, Ecology and Climate Change at the Senate on Wednesday.

The award was presented by Celestine Okwudili who represented Mrs. Ene Obi of Action Aid at the event.

Okwudili, said the award was conferred on the Senator for his contributions and stewardship in sustaining a healthy environment while serving as Governor of Bayelsa State between 2012 and 2020.

He explained that the Senator, during his tenure as governor, empaneled an International Commission on Oil Spills to assess environmental damages, determine responsibility, and develop a new legal framework for accountability and compensation in the area.

Heavy metal poisoning (toxicity) is the result of exposure to heavy metals like lead, mercury and arsenic.

Heavy metals bind to parts of human cells that prevent organs from doing their job.

Symptoms of heavy metal poisoning could be life threatening and they can cause irreversible damage.

In his speech at the occasion, Dickson explained that the panel he constituted as governor, took samples of blood of residents of the oil producing areas and after laboratory tests it was discovered that there were heavy metal poisoning in their bodies.

He said, "The panel took samples of soil, and blood samples. It was discovered that there was heavy metal poisoning in the people's bodies as a result of air and water pollution.

"They also got infected from fishes they caught from polluted water and consumed.

"The scientific report produced at the end of the exercise highlighted the plights of the residents of the oil bearing communities in Bayelsa State in particular and the Niger Delta region in general."

Dickson said he drew the attention of the multinational oil firms to the development but that rather than doing something about it, they started fighting him.

He lamented that the situation was still reoccurring even as he urged the attention of his successor to the unfortunate situation and asked him to take action.

He said, "The oil companies were not cooperating with me then. They were even fighting me but I did not mind them because I knew I was fighting a just course."

He also explained how he recruited 250 graduates to protect the environment, especially the forest resources.

The Senator called on the federal government to pay attention to the reckless deforestation taking place across the country.

The Senator promised to take advantage of his new position as Chairman, Senate Committee on Ecology and Climate Change to collaborate with all critical stakeholders on the issue of the environment.

He pledged to use all platforms available to him to advance the cause of the environment, the ecology and climate change.

“As the Chairman of the Senate Committee of Ecology and Climate Change, I will work with all NGOs in Nigeria, support the efforts of all institutions and bodies, to advance the

cause of the environment, particularly to join the campaign against climate change.

“Nigeria response for climate change and supporting communities devastated by climate change will see a marked difference by the time our Committee swings into action,” he said Speaking on the Bishop Sentamu Commission which indicted the oil companies operating in the region, Senator Dickson recalled why his administration set up the international commission.

“In addition, alternate evacuation routes such as trucking of crude oil to refineries has been approved to forestall potential downtime during refinery operations which might arise due to non-availability or vandalism of pipelines,” it added.

The commission explained that it remains steadfast in delivering on the mandate stipulated by the PIA and will not relent in ensuring that a conducive and suitable supply of feedstock to all licensed refineries operating within the country is sustained.

It further stated that any refinery operator or group of refinery operators in Nigeria not receiving or claiming not to be receiving feedstock from appropriate agencies were yet to satisfy the mandatory requirements as stipulated by law.

It pointed out that the commission has provided regulatory support for qualified refineries by ensuring adequate crude oil supply, restating its commitment to transparency and determination to work within the provisions of the PIA. “The commission has provided an enabling framework for the supply of crude oil to be negotiated between the lessee and the oil refining licensee, having regard to the prevailing international market price for similar grades of crude oil...

“The Ministry of Justice has gazetted the Domestic Crude Oil Supply Obligation Regulations developed by the commission, which provides the framework for placing crude oil supply obligations to operators of petroleum mining leases and Oil Mining Leases in Nigeria.

“Section 4(8) of the DCSO regulations states that: A lessee who has not complied with his DCSO where a willing buyer(s) exist shall not be granted an export permit for the export of crude from his lease area.

“This further reaffirms the commission’s drive to enforce DCSO to holders of oil leases within the country,” the NUPRC stated.

The commission also stated that following the directive by the president in May 2023, to resume full regulatory control of all terminals, it has been receiving and processing applications for barging and trucking permits.

It pointed out that the responsibility of periodically determining domestic crude oil demands lies expressly with the NMDPRA, stressing that such demands when they become available, are used to allocate supply obligation to lessees in line with the provisions of the relevant regulations

Ogun Plans 20,000 Hectares Rice Farm, Inaugurates Road Project James Sowole in Abeikuta Preparatory to the cultivation of the 20,000 hectares of rice farm, by the government, Ogun State Governor, Dapo Abiodun, yesterday inaugurated the first phase of the 21km Iboro-Imasayi - Ayetoro Road in Yewa North Local Government area of the state.

The governor said the farm, which would be located in Yewa North and Imeko Afon Local government areas of the state, would be the largest rice farm in Nigeria.

Abiodun added that the farm, would also have the largest rice processing factory in the country, thereby making Ogun state the rice capital of Nigeria.

Abiodun said with the establishment of the farm, his dreams of

turning the state into the rice capital of Nigeria would be achieved, adding that both local and foreign investors have signified interest in partnering with the state on the project.

He added, "Yewa North and Imeko Local Government areas, are known for their agricultural potentials and one of my legacies would be to leave these local government areas and have them defined as truly the bread basket of not just this state, but this nation.

"I have called the Head of Service and the Olu of Ilaro, Oba Kehinde Olugbenle that he should challenge all our traditional rulers in this area, we are looking for about 20,000 hectares of land.

"We want to turn this part of Yewa into the rice capital of Nigeria.

We already have the investors that

have the resources to turn this place into the rice development and rice processing centre in Nigeria and I'm deeply committed to that as that will be one of the legacies of this administration.

"Help us look for the land within the next two weeks and see the wonders that we will perform.

Government will not put a dime into it, government will be providing an enabling environment for investors to come and turn this place into the rice capital of Nigeria.

"We will lift up the economic prosperity of this state, it will trickle down down to individual prosperity and the lives of our people will never remain the same again", the governor said.

Abiodun emphasised the importance of infrastructure, particularly

good road network to the development of agricultural sector, preparatory to the opportunity of the event to flag off the second phase of the road construction, assuring that the project would be completed in due time.

Abiodun said, "This road is a 21km road and we do not think that it will be excusable for us not to begin the construction of this road because we cannot afford the entire budgetary provision at the time we were awarding it.

"But to demonstrate our commitment and sincerity of purpose, we chose to divide it into two phases to enable us complete the first phase, knowing that such will convince every doubting minds that we are indeed, sincere and committed to ensuring that we provided the needed infrastructure across this corridor.”

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NEWS

LAUNCH OF DIAMONDXTRA REWARD...

L-R: Regional Sales Manager, Rivers II, Access Bank, Sunday Iwundu; Unit Head, Consumer Banking, Adaeze Umeh; On-site DiamondXtra Winner, Onyia Agatha; and Regional Sales Manager, Rivers IV, Access Bank Plc, Sylvia Obi, during the official launch of Diamondxtra Reward Scheme in Portharcourt ….recently

ECOWAS: Coup Has Worsened Insecurity in Niger Worries over killing of Nigerien soldiers Michael Olugbode in Abuja The leadership of the Economic Community of West African States (ECOWAS) Commission has expressed worries over the degeneration of the security situation in Niger, a development, it claims, has resulted in the killing of Nigerien soldiers by armed groups.

In a statement, yesterday, ECOWAS reiterated the need to return the country to democracy by reinstating ousted President Mohamed Bazoum, who was overthrown in a coup d’état led by General Abdourahamane Tchiani.

Insisting that this was the quickest option for the restoration of peace and development,

PDP May Go Extinct If Not Reformed, Says Chidoka Chuks Okocha in Abuja Former Minister of Aviation, and National Executive Committee (NEC) member of the Peoples Democrat Party (PDP), Osita Chidoka, has called for a reformation of the party to avoid it not going into extinction at the earliest possible time.

Chidoka, who was Corp Marshall of the Federal Road Safety Commission (FRSC) also recommended an amendment to the electoral act, where presidential candidate ‘must’ score over 50% to be declared winner Speaking on a television programme in Abuja, Chidoka, however, lamented the effect the Labour Party had on the PDP as it lost some of its strongholds to the party in the last election.

According to him, “The PDP in itself is a government that was in power for 16 years. Its instinct is that of a government party and not that of an opposition party, and it has taken us eight years now to begin to realise. We are smelling

the coffee that it’s not four years and we are back or we are coming back the next day.

“Now, we are beginning to see that PDP itself needs to be reformed.

It needs to renew and reform itself to be able to begin to play the role of opposition, knowing full well that we have a politician as president.

“If PDP doesn’t get its act together, it will be an extinct party. So, we need to wake up, smell the coffee, find the kind of leadership that will represent us in an opposition atmosphere, and begin to do the work of the opposition.

“We must do the work of mobilisation and imbibe the work of technology. The last four years have taught us a bitter lesson that a young party can come up and take away PDP strongholds in an election cycle.”

Chidoka, therefore, suggested that the constitution be amended to ensure a runoff in any election where the presidential candidate did not secure over 50 per cent of votes cast.

the statement added, “ECOWAS has learnt with sadness various attacks by armed groups in the Republic of Niger that have led to the death of several Nigerien

soldiers.

“ECOWAS condemns these attacks and conveys its deepest condolences to the people of Niger and the families of the soldiers,

Deputy President of the Senate, Barau Jibrin, has expressed optimism that the All Progressives Congress (APC) would bounce back in Kano State.

He has therefore, appealed to stakeholders of the party in the state to be united.

Barau stated this when he hosted the local government vice chairmen under the umbrella of the Association of Local Govern-

ment Vice Chairmen (ALGOVC), Kano State Chapter, at the National Assembly.

Barau, said with prayers and unity, the outcome of the tribunal would be favourable to the APC. He said, "APC is challenging the declaration of Abba Yusuf of the NNPP as the winner of the governorship election conducted on March 18 in Kano State at the Election Petition Tribunal.

“We are praying and hopeful that the outcome of the tribunal will be

of the country that had become increasingly fragile since the attempted coup d’état against the democratically elected President, H.E. Mohamed Bazoum.”

Police Arraign Chartered Accountant, Mother for Defrauding Stockbroker, Ololo of N1.07bn, $975,102.58 Wale Igbintade Police from the Force Criminal Investigation Department (ForceCID) Annex, Alagbon, Ikoyi, Lagos, yesterday arraigned a chartered accountant, Omafume Augustina Ayinuola and her mother, Lydia Abosede Ehrievuyere, before a Federal High Court, in Lagos for allegedly defrauding a Nigerian stockbroker and entrepreneur, Peter Ukuoritsemofe Ololo, and his companies of N1, 072, 254 411 and $975, 102.58 respectively.

They were arraigned alongside their company, Patridia Resources Limited, before Justice Nicholas Oweibo, on a 15-count charge bothering on conspiracy, unlawful conversion of funds, money laundering and fraud.

The prosecutor, Morufu Animashaun, while arraigning the defendants, told the court that they perfected the alleged offences between years 2017 and 2021, at Trailer Park, Agbara, Lagos.

Animashaun, told the court that the defendants, committed the alleged fraud against some companies, which include: Oritsetimeyin Logistics Limited, PUO Assets Limited, Resolution Capital Limited, Pine Petosan Limited, Grace

Capital Ltd, RSL International Limited, RSL Ventures Capital Limited, Grace & Mercy Capital Limited, Grace Assets Limited and and Peter Ukuoritsemofe Ololo.

He further told the court that the funds allegedly stolen by the defendants were meant for the purchase and supplies of consumables for the listed companies.

He further told the court that the first defendant, (Omafume), while working with the companies listed above, used her position, and unlawfully converted various sum of money amounting to the total sum of N1, 072, 254, 411 and $975, 102.58, to her personal purse.

He also told the court that the second defendant and her company, Abosede Ehrievuyere and Patridia Resources Limited, concealed the origin of the funds, which they allegedly received from the first defendant, Augustine Omafume Ayinuola.

He further informed the court that the second defendant, Lydia Abosede Ehrievuyere, used parts of the funds to purchase and developed her family house located at 14, Irawodidia Street, Obadore, Off LASU Road, Igando, Lagos.

Animashaun, told the court that the alleged offences contravened

APC Will Bounce Back in Kano, Says Deputy Senate President Sunday Aborisade in Abuja

who have lost their lives.

“ECOWAS calls on the CNSPmilitary leadership in Niger to restore constitutional order in order to focus on the security

favourable to us. Everything is in God’s hands. Let us be united and work together. By God’s grace, it’s a matter of time, we will bounce back in Kano State.

“As it is now, we are in the opposition and as such there are a lot of expectations from us. We should be united and work together in the interest of our party,’’ he said.

Commending the local government vice chairmen for their visit, Barau said he would continue to work with them to improve the

standard of living of the people at the grassroots.

“The local government is very essential. We will continue to work with you to address the challenges facing our people. We are proud of you. Let us continue to work together,” he said.

Earlier, the chairman of the association, Alhaji Yakubu Musa Naira, said they were at the National Assembly to congratulate Barau on his emergence as the Deputy President of the Senate.

Sections 8(a); 7 (1) (b)(i); 1 (3) of the Advance Fee Fraud and Other Related Offences Act 2006, and punishable under Sections 1 (3) and 7 (2)(b) of the same Act. When the charge was read to them, both the mother and the daughter pleaded not guilty.

Following their not guilty plea, the prosecutor urged the court to remand them at the Kirikiri female section of the Nigerian Correctional Services (NCoS), till the determination of the charge.

But lawyer to the two defendants, Mr. J. O. Oladeji, informed the court that he had filed his clients'

bail applications and same have been electronically served on the prosecutor yesterday.

He pleaded with the court, to allow him move the application and admit his clients to bail.

However, the prosecutor, Mr. Animashaun, opposed the hearing the bail application, saying that he needed time to respond to some issues raised in the applications.

Thereafter, Justice Oweibo, adjourned the matter till August 23, for hearing of the bail applications.

The court also ordered the remand of the two defendants at the Kirikiri center of the NCoS.

Olu of Warri Marks Second Anniversary With 10-day Celebration Sylvester Idowu in Warri The Olu of Warri, His Majesty Ogiame Atuwatse III, is set to commemorate his second coronation anniversary in a week-long activities including conferment of chieftaincy titles, culminating in a thanksgiving service.

The Ologbotsere of Warri kingdom and Chairman of the coronation anniversary, Chief Oma Eyewuoma, reeled off the activities already lined up for the 10-day events at a press conference in Warri, yesterday, urging Itsekiris to turn up in large numbers to make the occasion a memorable one.

Olu of Warri, His Majesty Ogiame Atuwatse III, was crowned on August 21, 2021 thereby making his coronation anniversary fixed same day every year.

“I am very happy to address this press conference on activities and events lined up the OYO-EKORO 2nd Coronation Anniversary of His

Majesty Ogiame Atuwatse III CFR, Olu of Warri. Warri kingdom as you all know was founded in 1480

by Olu Ginuwa I. Aside the 88 years interregnum, Warri Kingdom has had 21 Monarchs.

“His majesty Ogiame Atuwatse III CFR is the 21st Monarch to rule Warri Kingdom. He is the Grandson of Olu Erejuwa II and the son of Olu Atuwatse II CON. “There are events that precede the Anniversary day proper, please permit me to unveil all the activities lined up for this year which starts from18th August 2023 to 27th August 2023. Ten days of intense activities to mark this year Anniversary, which is 2nd Anniversary of Ogiame Atuwatse III CFR on the pristine throne of Warri Kingdom", Chief Eyewuoma said.

According to him, events and activities lined up would take place at the palace (Aghofen) and Ode Itsekiri (Big Warri) the ancestral home of Iwere Nation.

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NEWS

EMPOWERING INMATES AT KIRIKIRI MAXIMUM...

L-R: DCC Sikiru Balogun of Kirikiri maximum Custodial Centre; Prisons Ministry Director, House On The Rock; Mr. Joe Ulaeto, and Deputy Controller of Corrections, Lagos Command of Nigerian Correctional Service, DCC Emeka Ogboji, during the inauguration of the Rock Tailoring Institute for the empowerment of inmates at the Kirikiri Maximum Custodial Centre in Lagos…recently

Lagbaja in Niger, Orders Reinforcement, Decisive Action Abubakar: Resolve to contain insurgency unshaken Condemns propaganda video of crash site by terrorists

Kingsley Nwezeh in Abuja The Chief of Army Staff, Lt Gen Taoreed Lagbaja, yesterday, ordered troops to take more decisive action against insurgents in the country just as the Chief of the Air Staff, Air Marshal Hassan Abubakar, said the determination of the Armed Forces to contain terrorism remained unshaken.

This came as the air force condemned viral video of the crash site of the air force plane that crashed in Niger State, during an evacuation operation, which it said was circulated

by terrorists and their sympathisers.

A statement issued by Nigerian Army Headquarters, said, "Following troops' encounter with insurgents in Zungeru general area of Niger State, in which gallant troops of the Nigerian Army paid the supreme price in defence of our dear country, the Chief of Army Staff (COAS) Nigerian Army, Lt Gen Taoreed Lagbaja, arrived Mina, Niger state capital, late night Tuesday 15 August 2023.”

The statement added that he “immediately moved to Forward

Operating Base Erena in Shiroro LGA of Niger State, where he was briefed on the current security situation by the General Officer Commanding 1 Division, Maj Gen Bamidele Alabi."

Addressing the troops soon after the brief, the COAS urged them to rally together and be more resolute in bringing the nation's adversaries to their knees and restore sanity in troubled areas, adding that the fight against insurgents and bandits was a just cause in defence of Nigerians and the nation.

"Protecting lives and defending

your nation are the noblest service anyone can offer. You are therefore in the noble profession of arms and must not allow your morale to dwindle. We must defeat the adversaries of our people and take back every inch of space where they are hibernating in our land," he said.

The statement signed by Army Spokesman, Brig-Gen Onyema Nwachukwu, said Lagbaja assured the troops that he would do all within available resources to give Nigerian Army personnel and their families the best in terms of welfare.

Ganduje: Wike's Defection Will Improve APC's Chances in 2027 Discloses some parties working to merge with ruling party Adedayo Akinwale in Abuja The National Chairman of the All Progressives Congress (APC), Abdullahi Ganduje, has said the expected defection of the immediate past governor of Rivers State, Nyesom Wike, to the APC would further improve the chances of the party in the 2027 general election.

Wike's visit to the residence of Ganduje on Tuesday in Abuja, had sparked another round of defection rumours about his imminent arrival into the ruling party.

Speaking with journalists, yesterday, after meeting former governor of Plateau State, Simon Lalong, Ganduje said the ruling party would come out with a new blueprint to increase the followership of the party.

His words: "You know Wike is an honourable minister-designate, so he came, and we discussed because I was looking for him to congratulate him for that and also he came to congratulate me and we discussed that when he becomes minister fully, he will work very hard in order to move the ministry he is given and he is ready to cooperate.

"But we didn't discuss the issue of his coming to APC or not coming to APC. That issue will arise later."

Asked if Wike's defection to the party would be in sync with his plan to increase the number of members of the party, Ganduje said, "It will certainly improve the chances of our party, especially in 2027.

"And not only that, we are coming out with a new blueprint to increase the followership of the party and this we include all strata of officials; those who are in APC and those who are in other political parties. I assure you very soon some of the political parties will even merge with the APC. We are doing that underground."

Earlier, Lalong said he was at the party's secretariat to congratulate Ganduje and see how to support

him in running the party.

"As the National Chairman, Ganduje was governor, as a matter of fact, when we look at his antecedents, we always say he is the longest experienced politician that we have within us.

“Because he is somebody who was very long in civil service, he became Permanent Secretary, Commissioner, longest serving Deputy Governor and became Governor.

So, with this kind of experience,

what else do you need in party matters.

"So, we have confidence in him as he is now here and it is not an issue of one man, anytime he has an opportunity he does a lot of consultation and we are always available. His colleagues who were governors with him are always available for this kind of work.

That is why we are rallying around to give him every help so that the party can also succeed," he said.

Disclosing that this was topmost in the pillars of his command philosophy, he directed the immediate reinforcement of the troops with additional combat enablers to enhance their operational effectiveness.

However, Abubakar, on his part, has said the determination of the Armed Forces to contain terrorism remained unshaken.

A statement issued by the spokesman of the Nigerian Air Force, Air Commodore Edward Gabkwet, also condemned a viral video of the crash site of the air force plane that crashed in Niger State, during an evacuation operation, which it said was circulated by terrorists and their sympathisers.

It said the Nigerian Air Force would not give in to terrorist propaganda.

"The attention of the Nigerian Air Force (NAF), has been drawn to a video circulating on social media platforms allegedly depicting the wreckage of the crashed MI-171 helicopter with bodies of victims at Chukuba Village in Shiroro Local Government Area of Niger State.

"While it is not in the character of the NAF to respond to such claims, particularly one peddled by terrorists, concerns expressed by well-meaning Nigerians on the need to address the propaganda becomes imperative," it said.

It stated further that like all military organisations involved in counterinsurgency and counterterrorism operations, incidences of fatalities,

mishaps and crashes were sometimes inevitable.

"For the NAF, the last eight years, has seen an increased level of air operations in efforts at checkmating the nefarious activities of terrorists and criminal elements in the country.

"With heightened levels of air operations, occasioned by an enhanced fleet, the likelihood of air mishaps and accidents at times become unavoidable and inevitable due to various reasons.

"Indeed, the Chief of the Air Staff, Air Marshal Hasan Abubakar said this much when he hosted Governor Umaru Bago of Niger State, yesterday, 15 August 2023, at his office where he noted that the rates of aircraft accidents/incidences are directly proportional to the heightened level of air operations," it said.

The statement maintained that, "while the NAF regrets such unfortunate incidents, especially as they involve the loss of lives of our colleagues, the service will never shy away from unravelling the probable cause of the crash with a view to drawing lessons.

"For those aiding and abetting the propaganda tendencies of terrorists, deliberately or inadvertently, by spreading the videos of the alleged crash site with gory pictures of dead military personnel, the need to rethink the consequences of their actions on the morale of troops, families of deceased personnel as well as on Nigeria’s national security is imperative."

PRIVATE SECTOR OPERATORS DECLARE RISING INFLATION ADVERSELY AFFECTING MANUFACTURING SECTOR member of the Cititrust Group, in its “Inflation Report July 2023,” noted that the country’s headline inflation has continued to grow since the beginning of the year, which was further enhanced by the subsidy removal in May. It stated: “The July inflation report is gradually revealing an upsurge in line with the observed trends in the economy. The CBN’s continuous monetary policy tightening as not addressed the rising inflation rate in the country compared to other developed countries where inflation is not buoyed by shortage in supply.

“Food inflation also continues to increase month-on-month due to challenges in production caused by insecurity, as well as transportation cost. The core inflation growth can be associated with FX scarcity and increase in cost of production. We expect further hike in inflation rate in August.”

On his part, the National President

of NACCIMA, Mr. Dele Kelvin Oye, told THISDAY that he was deeply concerned about the impact of the current high inflation rate on the businesses of NACCIMA’s member businesses and the Nigerian economy as a whole.

Oye said, “the high inflation rate has resulted in an increase in the cost of goods and services, making it difficult for businesses to maintain their competitiveness. This has led to reduced demand for goods and services, lower sales, and, in some cases, loss of jobs. Businesses are struggling to maintain their profit margins, which has impacted their ability to invest and create jobs.

“The high inflation rate has also led to an increase in the cost of borrowing, making it difficult for businesses to access funding. This has led to a slowdown in investment and growth in the economy.”

He added that, “the changes in fiscal policies of government had also

led to considerable loss in earned income for several businesses, especially multinational companies whose funds were trapped and saw their previous earnings reduced to losses by inflation and the drastic fall in value of the naira and some of the companies have decided to leave the country.”

Oye, however, restated that as the apex chamber of commerce in Nigeria, the NACCIMA is committed to working with the government and other stakeholders to find solutions to the challenges facing businesses.

“We are advocating for policies that promote macroeconomic stability, reduce the cost of doing business, and stimulate investment and growth. We are also encouraging our members to explore innovative ways to improve their efficiency, reduce costs, and remain competitive,” Oye said.

Reacting to the rising inflation rate, the Director General of NECA, Mr.

Adewale-Smatt Oyerinde, said the government should develop policies that would address the associated challenges in the food value-chain.

Oyerinde told THISDAY that government should encourage domestic manufacturing to lower the country’s reliance on imported finished goods.

He said: “Since food constitutes the highest component of the Consumer Price Index (CPI), which also accounts for about 68 per cent of an average household spending in the country, the government should develop policies through executive order for immediate intervention in addressing the associated challenges in the food value-chain.”

He also suggested that the government should nip in the bud the ravaging insecurity challenges in the north and middle belt of the country and develop “infrastructures toward mitigating the flooding issues that would massively affect farmlands

along the coastal regions and rising cost of energy.”

Oyerinde further stated that high import costs could be avoided by “encouraging domestic manufacturing and providing domestic enterprises with the necessary support, such as credit access and suitable infrastructure.

“Furthermore, if these policies are implemented promptly, they will stabilise and strengthen the currency in the aftermath of the recent unification of exchange rates, ensuring that the price of Premium Motor Spirit (PMS) at the pump is reduced, lowering general transportation costs and, as a result, inflation rates will decline.”

Oyerinde said that on a year-onyear basis, the headline inflation was 4.44 per cent points higher compared to the rate recorded in July 2022, which was 19.64 per cent, and also 1.29 per cent points increase when compared to the previous month.

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NEWS

HONOURING THE NATIONAL EXECUTIVE OF PFN...

L-R: Oyo State Governor, Seyi Makinde; National President, Pentecostal Fellowship of Nigeria PFN, Bishop Francis Wale-Oke and his wife, Victoria, during a dinner in honour the National Executive of PFN who are on retreat in Ibadan... yesterday

Vote Buying: A’Court Strikes Out Adebutu, PDP's Suit against Tribunal’s Decision James Sowole in Abeokuta A special panel of the Court of Appeal, sitting in Abuja, yesterday, affirmed the decision of the Ogun State Governorship Election Petition Tribunal, which had earlier struck out all allegations of vote-buying and voter inducement that the Peoples Democratic Party (PDP), and its candidate, Ladi Adebutu, made against Governor Dapo Abiodun and the All Progressives Congress (APC).

The court, in its lead judgment read by Justice M B Idris, further upheld another decision of the tribunal, which confirmed the validity of the defence filed by Abiodun.

The PDP and Adebutu, had on May 22, 2023, filed a reply to the defence filed by Abiodun.

In the said reply, Adebutu and PDP alleged, for the first time, that Abiodun and APC bought votes in the 18 March 2023, Ogun State guber elections.

When Abiodun received Adebutu’s reply, the governor’s lawyers filed an application asking the Tribunal to strike out the reply in its entirety or in the alternative, strike out offending paragraphs from that reply.

The Governor’s lawyers argued that the reply filed by Adebutu and PDP contravened Para 16(1)(a & b) of the Schedule to the Electoral Act and the rules of court pleadings.

The Tribunal agreed with the

Governor’s lawyers and struck out the entire reply filed by Adebutu and PDP. It was established before the panel that the allegation made by Adebutu and PDP was an after thought, which was hastily put together after Abiodun made weighty allegations backed up with police investigation report, establishing that Adebutu and PDP bought votes during the elections in his defence.

The police report, led to the filling of a suit by the federal government against Adebutu and nine others, over allegation of vote buying.

Not satisfied with the striking of the vote buying allegation against Abiodun, the PDP and its candidate, approached the Court of Appeal.

But the Court of Appeal affirmed, that all allegations of vote-buying in Adebutu’s reply, were incompetent, and consequently struck out paragraphs 21, 22, 23, 24, 31, 32, 33, 36, 37, 39, 40, 41, 42, 43, 44 of the reply, leaving only a few paragraphs.

The court then threw out the entire appeal filed by Adebutu and PDP against the decision of the tribunal which upheld the validity of Abiodun’s defence.

Earlier in his defence, Abiodun had made allegations of electoral fraud against the PDP and Adebutu, which was allegedly, perpetrated during the March 18 governorship election in the state.

Rather than counter Abiodun's allegations, Adebutu’s lawyers

belatedly introduced their own counter-allegations of vote buying (all of which have now been struck out) while also asking the

Tribunal to strike out the Governor’s allegations of vote-buying.

The tribunal unanimously held that Abiodun was not restricted to

Ondo State Government has assured of its commitment to continue to invest in cocoa and cashew in order to ensure that Nigeria continues to be a leading player in the global cocoa industry.

Mr. Akin Olotu, who is the Senior Special Assistant on Agriculture and Agribusiness to Governor Oluwarotimi Akeredolu, disclosed this while fielding questions from journalists at a media parley organised by the Correspondents' Chapel of the Nigeria Union of Journalists (NUJ), Ondo State Council, in Akure.

He explained that cocoa was responsible for 1.04 per cent of exports and contributes 3.33 per cent to employment in Nigeria.

Olotu, who said the state governor, being aware of the potential in cocoa and cashew, has in turn invested massively in the crops in order to boost its export potential and turn the economy of the state and Nigeria around.

Specifically, while reiterating the state government's commitment to collaborate and support all efforts to develop and move the cocoa and cashew industries forward in the state, he noted that if government at all levels put more efforts to develop cocoa, cashew and the value chain locally, there would be tremendous impact on the economy.

His words: "We have a lot of benefit from cocoa, cashew, cheer butter among others because they are exportable. So we need

PDP and its candidate, describing the appeal filed by Adebutu as unmeritorious and struck out the appeal in its entirety.

Mbah Carpets Edeoga, NYSC over Allegations of Forgery, Over-voting Gideon Arinze in Enugu Governor of Enugu State, Peter Mbah, yesterday picked holes in the allegations of forgery of his National Youth Service Corps (NYSC) discharge certificate, over-voting, and falsification of results.

This was even as drama ensued in court as the respondents – Mbah, who was the Peoples Democratic Party (PDP) candidate in the March 18, 2023 governorship election in the state and the Independent National Electoral Commission (INEC) opposed application by the petitioners to amend their prayer in their final written address seeking to be declared winners of the Rivers State governorship election rather than Enugu gubernatorial election.

In adopting his final written address before the Justice M.K. Akano-led tribunal, Mbah, through his counsels led by Chief Wole Olanipekun, described the petitioner’s reliance of NYSC discharge certificate

as of, “no moment.”

His lawyers held that not only should the issue of NYSC discharge certificate not have arisen in the first place since it was neither a qualification for the position of governor as listed in Section 177 of the 1999 Constitution (as amended) nor an educational qualification, which could be considered as a document required in aid of qualification, the petitioners also failed to prove a case of forgery against him.

“The fact that NYSC certificate is not a requirement for contesting election to the office of Governor is one that has been judicially settled.

And in this regard, we refer your Lordships to the Court of Appeal decision in Obi-Odu v. Duke (2005)," they stated.

Speaking further, they stated that the gross and net effect of the legal reality that NYSC certificate was not a requirement for qualification to hold office as Governor was that the

Ondo Govt Vows to Sustain Investment in Cocoa, Cashew to Boost Revenue Fidelis David in Akure

the same issues that Adebutu and PDP raised in their petition and that the governor was free to allege and prove acts of vote-buying against

forest and this is the critical area government need to look into.

So if we develop cocoa, cashew and the value chain locally, there will be tremendous impact on the economy.

"And it will create a lot of jobs for the people, crime rate will go down, and we will have a lot of foreign exchange in a sustainable way. There should be an equal attention to tree crops because we need forest.

“There must be an immediate and conscious efforts to promote all these crops in the country. It is a matter of necessity, it is not something that should be delayed, it can be treated the way the issue of fuel subsidy was treated.”

Speaking on insecurity and power devolution, Olotu said, "So

the solution to our problem in this country is power devolution, let us reduce the load at the federal level so that people can strive. For us to do it successful, we need adequate security.

“All governors have agreed that we should have a state police. The people at the National Assembly should be sincere with all of us on this. So if we are to move forward in this country, there must be a power devolution.

"If farmers are secured today, I can tell you that we will be selfsufficient in foods in Ondo state.

The security architecture of this country is not working at all and the problem is from the National Assembly. We need a system that is working, and until we go back to that, there won't be a way forward."

mens rea (knowledge/intention) of the alleged offence as pleaded has not been proven and also that the entire point is non sequitur.

Furthermore, citing several judicial authorities, the final written address equally argued that NYSC certificate, not being an educational qualification or a qualification for the office of Governor, Mbah did not refer to it in the affidavit he deposed in the submission of his INEC form and therefore could be counted against him.

“Thus where no reference is made at all to a document, even if accompanying an affidavit, that document is indeed an orphan, and sadly so,” they held.

Mbah’s counsels pointed out that the petitioners’ witnesses from the NYSC testified against the petitioners in favour of Mbah by admitting that the NYSC mobilised the Governor for national service, approved his suspension of service to go for his Law School programme, and also reposted him to Udeh & Associates to complete his service after the Law School.

They held that having fulfilled the obligations, it was mandatory on the NYSC to issue Mbah with a certificate, hence the case of forgery could not have arisen.

On the allegation of falsification of results, the respondents stated: “Although the petitioners made allegations of falsification of election results with respect to 24 Polling Units (19 Polling Units in Udenu and 5 Polling Units in Igboeze North), they only presented witnesses with respect to seven 7 Polling Units.”

They stated that whereas in paragraphs 104 – 114 (pages 28 – 32) of their petition, the petitioners alleged over-voting in a total of 16 Pulling Units (7 Units at Owo, 3 Units at Ugbawka, 1 Unit at Enugu East, and 5 Units at Igboeze North Local Government), they petitioners only presented witnesses in respect of 13 Units.

Meanwhile, the Justice Murayo Akano-tribunal, after taking the final addresses of the Petitioners and Respondents, reserved judgment for a date to be communicated to the parties.

TINUBU, JONATHAN, MARK, OGBEHA, BAGO, OBASEKI, REJOICE WITH BABANGIDA ON 82ND BIRTHDAY of prayers and commendations to Babangida.

In one of such messages made available to newsmen in Minna, Bago also described Babangida "as a living legend."

Bago in the statement, said the former Military President "is a true patriot and nationalist who has made a tremendous impact in shaping the nation's history and sacrifices to ensure the survival and unity of Nigeria "The doggedness and resolve of the Octogenarian in nation-building were crucial to the stability, national and international unity as well as development of the country."

Also, a top Minna traditional title holder, Alhaji Mohammed Nma Kolo, in a message to Babangida wrote: "No doubt your sojourn on earth and in particular in Nigeria

has brought about tremendous transformation to our nation.

“Your leadership as a brilliant and successful soldier and as a Head of State touched the lives of many Nigerians and even other nations in Africa and the world over."

In a similar message the Senator representing Niger East Senatorial District in the National Assembly Alhaji Mohammed Sani Musa, acknowledged the contributions of General Babangida to the economic and political emancipation of Nigeria.

"You have touched the lives of most Nigerians through your generosity and kind heartedness," Musa stated, adding that Babangida has written his name in gold in Nigeria and abroad.

He prayed for long life and good health for the former Military Head of State.

THURSDAY AUGUST 17, 2023 ˾ T H I S D AY

45

NEWS

HONOURING LATE DOYIN MAHMOUD…

L-R: Raheem Adedoyin of International Press Institute ( IPI); former Special Adviser to Governor AbdulRahman AbdulRazaq of Kwara State and award recipient, Mallam Saadu Salahudeen; Senator representing Kwara North in the National Assembly, Umar Sadiq and Dr. Saudat Abdulbaki, at the Doyin Mahmoud Annual lecture in Ilorin, Kwara State…recently

Sanwo-Olu Charges Navy on Synergy with Other Security Agencies SegunJames

Lagos State Governor, Babajide Sanwo-Olu, has charged the Nigerian Navy to synergise with other security formations to provide maximum security for Nigerians.

Governor Sanwo-Olu, who expressed satisfaction with the operations of the Nigerian Navy in Lagos, promised that the state government would continue to

support in all areas to improve the working conditions of the Naval officers.

Sanwo-Olu said this when the Chief of Naval Staff, Vice Admiral Emmanuel Ogalla led some of his high-ranking officers on a courtesy visit to the Governor at the Lagos House, Marina.

The governor said the road rehabilitation in Navy Town, Old Ojo Road, Buba Marwa and

Man, 58, Docked for Raping Six-year-old Girl in Niger A 58-year-old man, Mr. Yau Ibrahim, of Kundu village in the Rafi Local Government Area of Niger State, has been docked at Minna Senior Magistrate Court for raping a six year old girl.

According to the police’s First Information Report (FIR), one Mr. Abdullahi Dauda of Kundun Village in Rafi Local Government Area reported to the Kagara Divisional Police Station that Ibrahim lured his six year old granddaughter to his room and abused her sexually.

The report led to the arrest of Ibrahim who confessed during investigation that he committed the crime.

The accused was thereafter arraigned before the court for contravening Sections 26 (2) and 27 (2) of the Niger Child Rights and Protection Law 2021 as amended.

When the charge was read

to him, Ibrahim pleaded guilty but the prosecution opposed his summary trial because the sentence that would follow might not carry the maximum sentence.

The Senior Magistrate, Ms. Hafsat Abdul Bawa Wuse, aligned herself with the submission of the prosecution and ruled that the accused should go through the full trial.

Wuse said: “I really agree with you (prosecutor). We need to take some witnesses including the investigating police officer and possibly the victim.

“Convicting him summarily will not serve the deserved punishment. We need to commence full trial to enable the court arrive at the real punishment that will serve as a deterrent to others. Convicting the accused summarily will not serve the purpose of the case.”

Lagos Badagry expressway would be completed soon to decongest traffic on Apapa port road.

“For us as a government, we

see the Nigerian Navy as a willing partner. We are here to continue to lend our support and create the ambience where everybody can

live peacefully, and go about their normal duties peacefully and Lagos will continue to remain the Centre of Excellence and the State of Aquatic

Splendour that we all know it for and continue to be the bedrock of our commercial and economic nerve centre of our country,” he said.

INEC Produces Certificate of Compliance at Nasarawa Guber Tribunal Igbawase Ukumba in Lafia At resumed hearing of the petition filed at the Governorship Election Petition Tribunal sitting in Lafia by the Peoples Democratic Party (PDP) and its governorship candidate for Nasarawa State, David Ombugadu, the Independent

National Electoral Commission (INEC) yesterday produced Certificate of Compliance at the tribunal.

INEC equally produced Certified True Copy of forms EC8A iReV copy, Forms EC8A for LGEA Primary School Kurikyo, Bakin Rijiya Polling Units in Lafia Local Government

Area of the state during the resumed hearing.

Appearing before the tribunal for the Director of ICT INEC headquarters, Abuja, a Deputy Director of Software and Training, Ama Ibom Agwu, told the tribunal that INEC had produced Certificate of Compliance, Certified True

Copy of forms EC8A iReV copy, Forms EC8A for LGEA Primary School Kurikyo, Bakin Rijiya Polling Units in Lafia Local Government Area of the state.

The petitioners’ lead counsel, Jibrin Samuel Okutepa (SAN), therefore sought to tender all the documents as evidence in support of their case.

Opu Nembe: ‘Peace ‘ll Be Elusive Until All Actors Are Brought to Book’ Olusegun Samuel in Yenagoa

A former member of the House of Representatives and an All Progressive Congress (APC) chieftain, Hon. Isreal Sony-Goli, has urged the Nigeria Police to carry out an unbiased and diligent

prosecution of the perpetrators and actors of lingering crisis in Opu-Nembe community in Bayelsa State.

Sonny-Goli, who recently dumped the camp of his principal, Chief Timipre Sylva, said it is imperative that until the root cause of the incessant

upheavals in Opu- Nembe is addressed, by ensuring that all the actors behind the crisis are brought to book, peace and order will remain elusive to the people of the community.

Addressing a press conference in Yenagoa, the Bayelsa State capital, he said

the recent sting operation/ invasion conducted by a detachment of Mobile Policemen (PMF) and SWAT operatives from the Force Headquarters, Abuja, has thrown the community into a state of palpable fear, anxiety, and mourning.

Anambra Communities Send SOS to FG as Flood Destroys Farms, Roads

Gideon Arinze in Enugu

Communities in Ogbaru Local Government Area of Anambra State have called on the federal government to come to their aid, following a recent flood that destroyed farmlands and

damaged roads.

In a Save-Our-Soul (SOS) message made available to THISDAY yesterday, a businessman in the area, Mr. Patrick Ugboma, said that although the terrain in Ogbaru is fertile for crop production and

fishing even though it is prone to perennial flooding due to its proximity to the River Niger.

He explained that his automated Matucci Farms Limited, which is located at Agbobo Umuoga Ossomala community, has been shut

down following a recent flood that ravaged the farm and killed 25,000 poultry birds.

“About 400 workers of the company have lost their jobs as a result, affecting the economy of Ogbaru in particular and the state in general has been impacted.”

Demands Review as Delta is Excluded from Senate Committees Kano Set to Implement Action Group of the 74 standing committees The Convener of the group, Highlighting the importance Folalumi Alaran in Abuja

by Senate President Iteveh Nur’ Ekpokpobe of fair representation in Plan on Transformation The Niger Delta Development announced Godswill Akpabio. asserted that the Senate Nigeria’s nascent democracy,

Ahmad Sorondinki inKano

The Kano State Government has received an action plan and strategy document created by the Blue Sapphire Hub on sustainable and inclusive digital transformation aimed at supporting economic growth, social equity and individual empowerment.

RE: ALHAJI ABUBAKAR USMAN FARUK,

RETRACTION AND APOLOGY On 27th July 2023 and 3rd August 2023, we published an advertorial in form of a Public Notice in which some shareholders of Abuja Markets Management Limited (AMML) claimed that the employment of the organization’s Managing Director, Alhaji Abubakar Usman Faruk, had been terminated.

It has been brought to our attention that there is a subsisting order of a Federal High Court declaring Alhaji Faruk as the bona fide Managing Director of AMML. We regret the mix-up, retract the publication and express our profound apology to Alhaji Faruk.

- EDITOR

The state Deputy Governor, Aminu Abdussalam Gwarzo, who received the documents in his office yesterday, declared that the state government would embrace and implement the action plan.

According to him, “I want to assure you that Kano State Government remains committed to digital access programme because digital transformation is crucial to economic growth, social equity and individual empowerment.

“We wholeheartedly embrace the action plans and strategy document created through this collaboration. The ministry of science, technology and innovation serves as the podium and implementation field.

“We appreciate the suggestions to defer the ministry’s name to better reflect our digital transformation goals.”

Gwarzo explained that a dedicated committee would be formulated to develop the state’s policy aligning with socioeconomic history of Kano State in order to achieve the desired objectives.

Agenda (NDDA) has raised its voice against the recent composition of the Senate committees, expressing deep concern over the exclusion of Delta State from heading any

NDDA, a pan-Niger Delta group, made this known during a press conference yesterday in Abuja to address the nonallocation of committee chair seats to Delta State senators.

leadership’s decision is a disheartening blow to Delta State’s development and contributions to Nigeria’s growth, both economically and otherwise.

Iteveh emphasised that the viability of the legislature hinges on its ability to genuinely represent the interests and aspirations of all Nigerians.

NAFDAC Engages Stakeholders on Menace of Drug Hawking, Ripening of Fruits with Carbide

Segun Awofadeji in Bauchi

The National Agency for Food and Drug Administration and Control (NAFDAC) has organised a one-day media and other stakeholders’ engagement to develop an influencing strategy in the

campaign against the menace of drug (medicine) hawking and ripening of fruits with carbide.

The media sensitisation workshop on the ‘Dangers of Drug Hawking and Ripening of Fruits with Calcium Carbide’, organised by the North-east

zone of the agency held in Bauchi yesterday, was aimed at ending artificial ripening of fruits with calcium carbide, stressing that such practices are dangerous to human health.

In her remarks at the occasion, the Director-General of NAFDAC, Professor Mojisola

Adeyeye, warned Nigerians to be wary of eating fruits ripened with calcium carbide, pointing out that the agency takes stringent regulatory actions to stem the dangerous tide of drug hawking and ripening of fruits with calcium carbide across the country.

Igbo Elite Group Mourns Senator Okonkwo, Describes Him as Humanist

Sunday Okobi

As friends and family concluded funeral arrangements for late Senator Annie Okonkwo next weekend at the Harbour Point in Victoria Island in Lagos, a foremost Igbo Think-Tank,

Aka Ikenga, has described the late distinguished federal lawmaker as a decent humanist and a great man “with compassion that beamed as Ndigbo specialty and radiated as a national toast.”

While reacting to his passage in a condolence message

and tribute to the family, which was made available to THISDAY yesterday by the group’s Director of Communication, the Igbo elite policy group said: “We deeply commiserate with his dearest wife, Lady Chinyere Okonkwo, the family, and the

Ojoto people of Anambra State, on whose distress a towering canopy is lost to elevated eternity, peace and rest.”

A Mass for the late senator will hold at the Catholic Church of Assumption in Falamo, Ikoyi in Lagos State on August 17 and 18.

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THURSDAY, ͹Ϳ˜ ͺ͸ͺͻ ˾ T H I S D AY

THURSDAYSPORTS

Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com

0811 181 3083 SMS ONLY

John Enoh is Nigeria’s 36th Sports Minister

Femi Solaja Senator John Owan Enoh, known with the acronym JOE, is the new Sports Minister of the federation after he was confirmed last night

by President Bola Ahmed Tinubu in the allocation of portfolios to all the appointed ministers that have passed through screening by the Senate late last month.

He became the 36th person to supervise Nigerian sports since Chief Joseph Modupe Johnson (JMJ) in 1960.

The new sports minister was a senator representing the Central Senatorial District of Cross River State in the 8th assembly that ran from 2015 to 2019.

He was a member of the People’s Democratic Party (PDP)

until May 2017 when he defected to the ruling All Progressive Congress (APC).

He contested the governorship position but lost to Ben Ayade.

Apart from politics, Enoh owns numerous farms where he conducts arable and livestock production.

Farming venture he started in 2000 has as of 2021 since cultivated about 2000 hectares of cultivated

lands.

Enoh’s farm spreads across various parts of Cross River State.

About 150 hectares of planted palms in his native Agbokim Waterfalls; and expanding to about 100 hectares of planted palms, and counting, at Etara-Ekuri. All communities in Etung LGA of Cross River State, where the politician hails.

Enoh is said to operate an

out-grower scheme in communities where his farms are located. The out-grower scheme is a corporate social responsibility scheme that empowers local small-scale farmers with arable and livestock to grow in their farms and later provides them with the market to Senator John Owan Enoh...

Nigeria’s 36th Sports Minister sell these products.

Man City Are UEFA Super Cup Champions!

Manchester City last night won their first silverware of the campaign as Pep Guardiola’s side survived a sloppy start to triumph 5-4 on spot-kicks against Sevilla and lift the UEFA Super Cup. Regulation time scores deadlocked 1-1.

Having lost the Community Shield to Arsenal on penalties 10 days ago, last season’s swashbuckling treble winners initially wilted in the Greek heat versus the Europa League holders.

Youssef En-Nesyri put Sevilla ahead and City rode their luck, only to draw level through Cole Palmer’s looping header as their maiden Super Cup appearance ended 1-1 after 90 minutes and went to a shoot-out.

The first nine penalty takers all converted before Nemanja Gudelj smashed his effort off the crossbar, seeing Guardiola’s Champions League winners triumph 5-4 on spot-kicks in Piraeus.

Elated England Fans Go Wild after Lionesses’ Win over Aussie W O M E N ’S W O R L D C U P

Manchester City players celebrating defeating Sevilla in shootouts to win the 2023 UEFA Super Cup...last night

Sanwo-Olu Lauds Falcons for Engineering New Era of Women's Football Femi Solaja Following the brilliant performance of the Super Falcons at the ongoing FIFA Women’s World Cup in Australia and New Zealand, Governor of Lagos State, Babajide Sanwo-Olu, has commended the senior Nigerian women's team, stressing that they have ushered in a new era in The female gender soccer in the country.

The Governor made the assertion after the trio of Asisat Oshoala, Rasheedat Ajibade and Monday Gift paid him a visit yesterday at the State House in Marina.

The Super Falcons put up a strong performance at the 2023 FIFA Women’s World Cup and were unbeaten in their group for the first time ever and kept two clean sheets. They could have easily topped their group, but they failed to beat Ireland.

In the Round of 16, where Nigeria was expected to be run over by England, they put up a

remarkable performance, pushing the Lionesses till the very last minute. Unfortunately, they lost out via a penalty shootout.

The governor, via his X (formerly Twitter) handle, commended all the players for their efforts and noted that the take away from the

participation is that, many more ladies are challenged to come into the fold and exhibit their talents.

“Honoured to have received some team members of our remarkable Super Falcons at the Lagos House in Marina earlier today,” Mr. SanwoOlu wrote.

“Asisat Oshoala, who came in company with Rasheedat Ajibade and Monday Gift, came to pay us a courtesy visit.

“The Super Falcons’ incredible run at the FIFA Women’s World Cup has ignited a new era of enthusiasm for women’s football in Nigeria.

the crowd.

The day started with playful gloating from the Aussies - but the taunts came to a rapid end when Ella Toone smashed home the first goal to put England one step closer to the World Cup final.

Aussie forward Sam Kerr pulled one back in the second half with a good shot from outside the box to level the score, prompting looks of despair and concern from the England supporters.

However, the mood wasn't dampened for long as Lauren Hemp made it 2-1 in the 70th minute.

Alessia Russo fired home a third goal for good measure 16 minutes later, all-but-guaranteeing England's spot in the final.

At Goldwood Sportsbar in the City people in suits sat with their laptops up drinking champagne on ice.

The bar was booked out with reservations and it was roaring with atmosphere even before kick-off, with screams from people both sat or stood at the bar.

2023 Okpekpe Race Champions Ready to Battle for Medals WORLD CHAMPIONSHIPS L-R: Super Falcons’ Asisat Oshoala, Rasheedat Ajibade, Lagos State Governor, Babajide Sanwo-Olu and Monday Gift presenting autographed national team jerseys to Sanwo-Olu during their courtesy call to Lagos House in Marina...yesterday

Tottenham Agree Personal Terms with Orban as Kane’s Replacement In their search for a replacement for former striker, Harry Kane, English Premier League club, Tottenham have agreed on personal terms with Nigerian striker, Gift Orban, but they are also exploring the option of signing unsettled Chelsea striker, Romelu Lukaku.

Spurs have lost their best striker of all time, Kane to Bayern Munich this summer, making €100million from the sale of the 30-year-old

England fans went wild as they celebrated the Lionesses' fiery 3-1 victory against Australia in the World Cup - propelling them into their first ever final.

Fans whooped and cheered 'it's coming home' as the Lionesses sealed their place in their first ever World Cup decider against Spain, with spectators watching on big screens across the country cheering them on.

Australian fans brave enough to watch the game in public could only grimace and peer at the screens through their hands as the defeat became apparent - with their tearful agony ending only after seven extra minutes of injury time.

In London yesterday, Brits embraced 'WFH Wednesday' as they packed bars with their laptops - keeping one eye on the screen, one eye on their computers.

It was a full house at the Shoreditch Boxpark with hundreds packed shoulder to shoulder on picnic benches as a rendition of Sweet Caroline rippled through

England international and would be looking to get some attacking reinforcements this summer.

Spurs did not look up to par in their first Premier League game of the season against Brentford.

Captain Heung-Min Son and Richarlison could not carry the team in Kane’s absence, and they had to settle for a 2-2 draw against the Bees.

Tottenham have been in contact

with Gent’s Orban recently, with reports stating that they are willing to play up to €30million for the Nigerian.

According to Goallballive, Spurs have agreed on personal terms with Orban. However, they are stalling on the deal because their first choice is Romelu Lukaku.

The Belgian attacker has been frozen out of Chelsea and will likely leave this summer. As such,

he would be a cheaper target for Spurs.

Also, he is a more established player than Orban, who has not played in any of the top five leagues in Europe.

However, buying Lukaku from Chelsea may cost up to €45million.

Spurs need a reliable option in attack following Kane’s departure to Real Madrid, and Orban is one of the options on their list.

Daniel Simiu Ebenyo and Caroline Chepkoech Kipkirui, the 2023 Okpekpe international 10km road race champions will be seeking to replicate their record breaking feats at the World Athletics Championships which starts this weekend in Budapest, Hungary.

Both Ebenyo and Kipkirui broke the men and women's course record at the gold label race in Okpekpe at the end of May. The duo will be competing in Budapest after securing qualification to the World Athletics flagship event and are rearing to extend their dominance in the long distance events from Okpekpe to the world stage.

While Ebenyo will be running in the 10,000m event for Kenya, Kipkirui will compete in the 5,000m and 10000m races for Kazakhstan.

Ebenyo told organizers of the historic Okpekpe race he is going to Budapest with the confidence that he has the support of not just Kenyans but also Nigerians, especially the good people of Okpekpe town and in its environs who cheered him on to set a new 28:28 course record in May. “It's a wonderful feeling to know that I am surrounded and recognized by such caring and thoughtful people.

“Your messages and encouragement brought smiles, laughter, and joy to my heart, and I couldn't have asked for a better way to celebrate the win.

“Thank you from the bottom of my heart for wishing me all the best in the upcoming World Championships.

˜ ͹Ϳ˜ ͺ͸ͺͻ ˾ T H I S D AY

47

BACK PAGE CONTINUATION UNICAL’S SEX SCANDAL THAT WON’T GO AWAY management of the University of Calabar.

She maintained that the lecturer forcibly had sex with her daughter after a fierce struggle. The moment the complaint became public, both the University Registrar, Mr Moses Abang and the Vice Chancellor, Prof James Epoke, described the issue as being of “grave concern to management for such an awful report to be associated with a professor of this University and the Dean of our Law Faculty for that matter.” The accused was asked to answer, in writing, the allegations against him. The university authority subsequently established a panel to investigate the lecturer; and on 11 September 2015, Ndifon was suspended.

THE FIGHTBACK

As is perhaps expected, Professor Ndifon disputed the allegations levelled against him

by Nkang Akpan. By March 2016, he had filed a suit at the National Industrial Court sitting in Calabar, challenging his suspension.

However, in a judgement delivered on 21 September 2016 by Justice Eunice Agbakoba, the suspension was affirmed. Ndifon then approached the Federal High Court, Calabar, where he joined issues with the ICPC and the accuser as respondents. In addition to asking the court to grant him an ex-parte order for the enforcement of his fundamental rights, the lecturer sought an interim injunction restraining the ICPC from “harassing, molesting, arresting, abducting, detaining or further threatening to arrest and detain” him.

According to Ndifon, he was invited for questioning on the date the student laid her criminal report against him with the police in Calabar. When he reported at the station, he was arrested, detained, and subsequently released on bail. After the police conducted a discreet and thorough investigation into the matter, according to Ndifon, nothing incriminating was found against him. Apparently not satisfied with the police investigation, Nkang’s parents petitioned the State Security Service (SSS), Calabar Office; and on that account, he was rearrested, detained, and again released on bail.

Still, in Ndifon’s account, at about the time officers were concluding their investigation, an NGO, the Nigerian Feminist Forum (NFF), petitioned the Inspector General of Police, requesting him to take over the case from the Cross River Command. The matter was subsequently transferred to the Force Headquarters in Abuja for investigation.

The lecturer asserted that he was further subjected to another cycle of arrest, detention, and bail. As with previous investigations, he noted that nothing incriminating was found against him.

Ndifon further stated that his main concern in approaching the court was that, while the parties were awaiting the official police report, the ICPC Chairman, Mr Ekpo Nta, speaking at a public function in Abuja on 17 September 2015, announced that the commission had concluded arrangements to prosecute him (Ndifon) for alleged abuse of office. The lecturer alluded to an alleged claim by the accuser and her parents that the ICPC chairman, being their relation, had assured them that the commission would deal with him. To Ndifon, therefore, the ‘hasty’ presumption of guilt and the ICPC decision to prosecute him supported the alleged threats by the Akpans. The professor alleged: “The operatives and men of the ICPC are unabatedly hounding, harassing, and threatening to arrest and detain me even upon the same incident, allegations, facts, circumstances and matters which are presently pending investigations at the Force Headquarters, Abuja, and the Department of the State Security (DSS), Calabar. I also know as a fact that the respondent’s threat to arrest and detain me under the foregoing circumstances is wrongful and unlawful.”

NTA RESPONDS

The former ICPC Chairman has denied any relationship with Ndifon’s accuser. “I am not in any way related to the girl and never knew her until the scandal broke. In fact, the investigation by the ICPC on the alleged abuse of public office was based on a petition sent by the victim’s mother,”

Vice Chancellor of the University of Calabar, Florence Obi

said Nta, currently Chair of the National Salaries, Income and Wages Commission (NSIWC), during our chat at his office in Abuja in December 2019. According to him, the whole idea of fighting abuse of power on campuses started following the collaboration between the National Universities Commission (NUC) and ICPC, which led to the University System Study and Review (USSR) to address corrupt practices in the university system. “This gave rise to several students, parents and other stakeholders seeking redress from ICPC over abuse of processes, including malicious non-release of results, victimization, and sexual harassment. The petition on Ndifon was just one of such petitions received.

Other similar ones came from Ambrose Alli University and the University of Lagos,” Nta said.

Aside the petition to the ICPC by Nkang’s mother, there were other interventions on the matter. For instance, the ‘Class of 1997’ Alumni of the University of Calabar Faculty of Law, in an online petition dated 14 September 2015, demanded for Ndifon to be prosecuted. Claiming, as his former students, to know the professor very well, the alumni members, 31 in number, made several damaging allegations against Ndifon before concluding with what they considered to be the critical issues in the case. Some are as follows: ‘It is against university regulations for a lecturer to hold a test on a Saturday in a programme that is full time. Assuming that the girl had been guilty of examination malpractice as alleged by Prof Ndifon, tearing up her answer script was not the proper course of action to take, as the university has a clear protocol for dealing with examination malpractice issues. Assuming that the girl had been guilty of examination malpractice, Prof Ndifon had no authority whatsoever to forgive her as she broke university rules, not his private rules. In asking her to recopy the answers on a fresh sheet, he therefore acted ultra vires as a lecturer; and, in covering up a wrongdoing, he fell afoul of university regulations. In fact, he broke extant law.

There is no satisfactory explanation for why Prof Ndifon took the girl from his office as a Dean, where there were two or three other people, to his personal office as a lecturer – where there was absolutely nobody. The facts reveal that the girl had been carefully chosen as a target.’

However, there was a contention about whether the petition was authorised. In a statement released two days after the petition went viral, Mr James Ibor expressed regret over “the embarrassment caused to all the persons wrongly named as signatories in the petition” while promising that “an authorized statement duly signed will be published soon.”

BATTLE OF WITS

Ndifon’s defence before the University of Calabar authorities, set out in his response to the query from the office of the registrar

dated 2 September 2015, is certainly interesting. After a lengthy account as to what transpired in his two offices between him and the student, Ndifon deployed his knowledge of law and logic to argue that it was impossible for a sexually harassed female student to behave in the manner reported in Nkang’s police statement. He wrote: “According to Ms Nkang Sinemobong Ekong, I locked up the office, dragged her clothes and raped her and her screams [for] help were not heard because my office was on the last floor of the building.” This, the professor claimed, was mere fantasy.

Quoting from the accuser’s statement as to how he supposedly went to open the door for someone who had knocked, before coming back to further molest her, Ndifon raised critical posers: ‘At this juncture, certain fundamental questions beg for answers. Why will a hapless girl who a while ago screamed for help not seize the golden opportunity of the sudden presence of a third party to ask for help and rescue? Why will a hapless girl who is being raped still find the composure to complete the academic assignment of recopying the test without any fear or trauma whatsoever? Why will a hapless girl who is being raped in an office still find comfort to remain in the same office even after the assailant had left the office for about 20 minutes instead of fleeing from this ugly scene?

When her worried friend repeatedly called her phones in my absence when I went downstairs, why did she not inform them of her abduction and assault in my office?

As a follow-up, whilst her parents alleged in their attached petition that I seized her phones, the student is stating the contrary that she was in possession of the phone even in my absence. Why this contradiction?

Who do we believe?

‘Why will the hapless girl who had the opportunity to escape stay back until I returned for another round of un-consented sex with her? Why will the same girl who had been raped repeatedly be so ‘nice’ to carry my bag from the office to the car at the parking lot, and when she met staff at the Faculty of Law, she never seized the opportunity to report the incident to them?

One is curious and will like to ask why would a person that has just been raped and traumatized choose not to report to the university’s security post which is five metres from the scene, and the Medical Centre which is also is five minutes’ drive from the scene? These first responders (security post and medical centre) are closer to the ‘victim’ than the Airport police station.’

THE POLICE EXONERATION

The police exonerated Ndifon in June 2016, after completing their investigation.

According to the report signed by Assistant Superintendent of Police Babatunde Lasisi of the ‘Force Gender Unit’ in Abuja, three findings were made, none of which indicted the accused. “The evidence of the

complainant, according to the police report, [was] incoherent and partly disjointed; there is no material evidence to corroborate the testimonies of the complainant and build this offence of rape around the suspect sufficiently. Sexual intercourse is deemed complete upon proof of penetration of the penis into the vagina,” Lasisi wrote.

The report added that the police officers who took Nkang’s statement after the alleged incident, observed that she looked “too calm” to have undergone such harassment.

“The voluntary statement of the medical officer revealed that the complainant’s clothing was intact, no sign of rumpling nor torn pant, and she was calm as she gave her stories.” The report further noted that, upon examination: “There was no bleeding part of her body, no laceration, abrasions nor bruises on her body. On vaginal examination, her panties were not stained, normal female external genitals observed, no abrasion, bruises, no laceration.

There was no hyperemia to show forceful penetration within her vulva and pineal region including her anus.”

Nkang’s parents dismissed the police report as dubious. “The police went to the scene six days after the report was lodged, at about 8 p.m. the following Thursday, after the incident happened on Saturday, August 29, 2015. This indicates compromise by the police there,” Nkang’s parents said.

The ICPC, meanwhile, continued their investigations. In March 2017, a Federal High Court sitting in Calabar ruled that the commission had the right to investigate Ndifon. In setting aside the police report upon which Ndifon had sought to restrain the ICPC, Justice I.E. Ekwo concluded that other issues had arisen which were within the purview of the ICPC to investigate.

The judge added that the offence of sexual gratification was contrary to Sections 8, 9, and 19 of the ICPC Act, which refer to any public officer who receives benefit of any kind in the discharge of his duties or uses his position to confer corrupt advantage upon himself.

However, relying on the police report that exonerated him, the University of Calabar recalled Ndifon in November 2017, along with another suspended lecturer, Mr Joseph Odok. Upon his reinstatement, Ndifon held a church thanksgiving service where a clergyman and lecturer with the Catholic Institute of West Africa (CIWA), Rev. Fr. Francis Adeyemi asked him to “forgive” the accuser and her family. “Seek not for vengeance, put your trust first in God, for vengeance belongs to God who is in heaven. For many who would have similar experience would want to seek fetish means for solution,” said the priest.

Reputed as the first Professor of Law from Cross River, Ndifon is by no means a small man in the South-South state. This was reflected in the number of prominent personalities in attendance at the church service. “What happened was that they aimed to destroy my career, reputation, the reputation of my family, my village, state, and everything that I stand for. They took me and my family through the valley of the shadow of death, but God delivered me and did not allow their scheme to succeed,” Ndifon told the congregation. “You won’t understand that there was an unseen hand manipulating and directing the movie but, in all things, I give God thanks, I always saw the hand of God. The fact that I am alive today is a miracle. If not for God, there were many avenues to have brought me down. When the medical report came out, I was exonerated, when the police report came out, I was exonerated and they passed the file from Federal Attorney General to the State Attorney General but in all these, they gave the verdict that I had no case to answer; and to sum it up, it shows the favour of God.” Although the case appears to have gone cold - the Court of Appeal did not sit on 25 September 2019 when the matter was to come up for hearing again - the accuser, Nkang Akpan, seems to have moved on. She completed her Law degree with a Second Class Upper. She also made Second Class at the Nigerian Law School.

ENDNOTE: Piece concluded in the online edition, www.thisdaylive.com

Thursday, August 17, 2023

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Pastor Bakare to President Tinubu When, in his inauguration address President Tinubu announced that ‘fuel subsidy is gone’ despite the cautious exclusion of that contentious subject from the speech by his advisers, it was clear that our nation had been unwittingly plunged into chaos by a very poor change management process. Whatever the president’s true motivations were, it is clear that he put the cart before the horse...This same impulsive leadership style was evident when the president recently led ECOWAS to violate an ancient principle of diplomacy that is recognised even in the Holy Book: offer peace before declaring war.

OLUSEGUNADENIYI Unical’s Sex Scandal That Won’t Go Away THE VERDICT

olusegun.adeniyi@thisdaylive.com

T

he viral video of female law students protesting alleged sexual harassment against Professor Cyril Ndifon at the University of Calabar was disturbing. Carrying placards with inscriptions that are too obscene to be repeated here, the protesters (led by the Law Students Association of Nigeria, Unical branch president, Benedict Out) made serious allegations against the Dean of the Law Faculty. Why should that be of special concern to me? Well, Ndifon happens to be one of the central characters in my 2020 book, ‘NAKED ABUSE: Sex for Grades in African Universities’. A huge scandal which I detailed in the book involved the eminent professor, the Police, the State Security Service (SSS), the Independent Corrupt Practices Commission (ICPC), a female student (who alleged that Ndifon sexually abused her), parents of the girl, a prominent NGO, the National Industrial Court, the Federal High Court, and the local media.

Before I proceed, let me state that Ndifon has countered the latest allegation against him, describing it as politically motivated.

“Since I defeated some persons in an election that was keenly contested, to emerge as Dean of the faculty, it hasn’t been easy. These allegations are baselessly masterminded by my detractor, who had vowed to ensure that my image is dragged to the mud just because I won the faculty elections twice,” Ndifon told CrossRiverWatch, an online platform. “If you look at the placards, you will discover that the placards have one person’s handwriting. Again, how come the protesters know that we were holding a meeting with the Vice Chancellor if it is not the handiwork of an insider.”

It is indeed possible, as Ndifon alleged, that campus bad losers may have been behind the protest. But something is not right if allegations of sexual misconduct continue to be levelled against the professor of law. Before I come to why resolving this issue is important for the University of Calabar and the entire university system in Nigeria, I want to take readers through the earlier sex scandal involving Ndifon (as captured in my book). ============================== On 29 August 2015, in a letter titled, ‘Report of Sexual Assault and Harassment

by Professor Cyril Ndifon on Me’, addressed to the Vice Chancellor of the University of Calabar, Miss Nkang Akpan told of her harrowing experience when she sat for a test on ‘Law of Trust’, a class taught

by Ndifon. The test was to last one hour.

However, approximately 40 minutes into the exercise, according to the student, the professor ordered everyone to submit their scripts. As is often the case in such circumstances, students were making frantic efforts to write more, in the hope of properly completing their work. Nkang was unlucky.

Ndifon walked up to her, took the script, tore it, and threw the shreds on her seat as

he walked away. For a 400-level student, this was an academic death sentence. The implication was that she would not graduate that year. Immediately, the girl was at the mercy of the professor. As she recalled: “All my classmates who saw what happened exclaimed and sympathised with me.”

The events that followed were captured in the story of the humiliated student who explained that when she was heading back to her hostel with friends, they passed through the faculty as Professor Ndifon was driving in. He asked if the distressed girl still had shreds of the test script. Jubilant and hoping that God had granted her a reprieve and touched the heart of her lecturer, the girl quickly produced the torn script which she had kept in her bag. The Dean then instructed her to gather the pieces of paper, get a new foolscap sheet, and go to his office to recopy it. Keen to ameliorate a situation capable of extending her academic years on campus, the student quickly went to the office of the professor as directed.

Her friends waited downstairs, hoping she would soon finish the task and rejoin them. Considering how the Professor of

Law later countered the allegation, it is important we first take the story as told

by Nkang herself: ‘I met his secretary and two other staff and explained to them so they could let me sit in their office and write it. He later came into his secretary’s office and told me to go to his private office upstairs so that I could be more comfortable since in his secretary’s office, I was keeping it on my lap to write. On getting to his office, five minutes into when I started writing, he came in with a glass of alcoholic wine, he told me to kiss him with the wine in his mouth and I refused. He offered me the drink and I resisted it, telling him that I don’t like alcoholic drinks. He left me and went downstairs. He came back in another five minutes. This time around, he locked the door and took the key, telling me he also had some work to do while I’ll be recopying the test. He sat on his chair doing his work when suddenly he stood up and walked up to me and asked me again to kiss him. I told him I can’t, and he pretended to let me be and told me I shouldn’t worry that I should continue with what I was writing. Not up to ten minutes after, he walked up to me again, and he tried to force me to take the alcoholic drink.

‘On my refusal, he put the drink inside his mouth and came to forcefully kiss me.

As God would have it, I tightly sealed my lips and while he tried to kiss me with the drink in his mouth, it spilled on the floor and the cloth I wore. He dragged me up from the chair and pushed me to a two-seater seat in his office and told me that he wanted to have sex with me. I bluntly told him that I cannot have sex with him. He dragged my clothes in a bid to remove them, I screamed amidst struggling but there was no way anyone could hear me because his office is on the last floor and his secretary, and two other staff were in his official office on the first floor. He removed his cloth and brought out a condom from a shelf in his office, wore it and penetrated (me) forcefully and painfully. We heard a knock on the door, he picked up his clothes and quickly wore them and acted like everything was normal then he proceeded to open the door. He left me there and went downstairs with the person that knocked.

‘I seized that opportunity, put myself together and tried to rush up and finish

It is interesting that more than three years after the publication of my book, fresh allegations of impropriety are being levelled against Professor Ndifon by his students. Even if Ndifon is innocent of the new accusation, the University of Calabar has a problem on its hands. If one of their most respected lecturers continues to face this kind of accusation from his female students, can the authorities continue to ignore it?

writing the test before he came up again.

After about twenty minutes, he came back into the office, and I just finished recopying the test and I submitted it to him. About to leave the office, he pulled me back and locked the door. At this point, my friends that have been waiting for me downstairs started calling repeatedly because they were worried why I stayed too long upstairs. This time around, he came in with a bottle of Guinness Stout which he started drinking.

He once again asked me to drink it and I told him that I don’t take alcoholic drink.

He told me this time it’s by force that I must drink. He tried to force the drink through the bottle into my mouth and I spat it out on the floor of his office. He dragged me, forcefully opened my mouth, and transferred the drink in his mouth into my mouth. I immediately spat it on the floor of his office again. He got angry and dragged me, telling me to strip off my clothes at the count of three.

‘At this point, I was tired and exhausted coupled with the fact that I had not eaten since morning. When he finished counting three and I still did not strip like he ordered, he dragged me to the chair, locked my knees with his legs and started dragging my trousers forcefully and in the process spoilt the zip. As exhausted as I was, I started crying and begging him that I was weak and had not eaten since morning.

He refused to hear, telling me that I was acting and that I’ll make a very good actress; that he has met a lot of my type so many times. I finally succeeded in pushing him off my body and knelt to beg him since I no longer had the strength to continue struggling. He persisted and pushed me down again, wore a condom and penetrated.

When I threatened to faint, he finally told me that I can go and offered to drop me off since I was exhausted. I rejected the offer and told him I was going on my own. He insisted but I strongly refused.

At that instance, as I was walking out of his office, staggering and very drowsy, he sent me to help him carry his bag to his car downstairs. That’s when one of his staff and himself locked the faculty and they drove off.’

Humiliated and dejected, Nkang said she sat by a new building beside the Law Library, crying. A man driving by saw the young lady in her pathetic state and decided to ask what was wrong. It was the concerned passer-by who reportedly persuaded Nkang to take the matter to the police. At the police station, after she wrote her statement, Nkang was referred to the police clinic where she underwent a medical examination. That marked the beginning of a protracted battle for justice that involved her parents, the police, university authorities and the ICPC. Determined to get justice for their daughter, Nkang’s parents took the case to the media.

Mrs Irene Akpan also corroborated her daughter’s allegation in a letter to the Continued on page 47

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