WEDNESDAY 1ST SEPTEMBER 2021 by THISDAY Newspapers Ltd

How Bitt Emerged CBN’s Technical Partner on Digital Currency Came out tops among evaluated five

Obinna Chima Fresh facts have emerged about the process leading to the Central Bank of Nigeria’s (CBN) formal engagement of global fintech company, Bitt Inc. as its technical

partner for its proposed digital currency, also known as e-Naira. THISDAY learnt yesterday that the CBN went through a rigorous vendor selection process in line with the Public Procurement Act, conducted by seven departmental

directors and a Deputy Governor whereby 10 companies were evaluated. The evaluation was based on the following criteria: technology ownership and control; implementation timeline; efficiency, ease of

adoption; support for anti-money laundering and combating the financing of terrorism (AML/CFT); platform security; interoperability; implementation experience. According to a document seen by THISDAY, Bitt came tops with

an average score of 82.3 per cent. The scores for the top five bidders were: Bitt- 82.3 per cent; InterStellar - 76.9 per cent; Zimbali- 76.4 per cent; G+D - 76.3 per cent; and EmTech -66.4 It also revealed that a sandbox

evaluation followed the selection process to have a hands on experience with Bitt and G+D being the two companies among the top five who had either gone live or Continued on page 10

PIA: NNPC Will No Longer Render Free Service to Government, Says Kyari... Page 6 Wednesday 1 September, 2021 Vol 26. No 9640. Price: N250

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Buhari Unveils Job Creation Initiative, to Employ 20,000 Graduates Annually Says policy consistency responsible for 5% jump in economic growth in Q2

Deji Elumoye in Abuja The federal government yesterday announced the creation of the Nigeria Jubilee Fellows Programme aimed at employing, annually, 20,000 graduates, who recently concluded the mandatory one-year National Youth Service Corps (NYSC). The job scheme came as government said the 5.01 per cent growth the economy recorded in

the second quarter of 2021 was due to the present administration's policy consistency and innovation. Speaking while launching the programme, supported by the United Nations Development Programme and the European Union, at the State House, Abuja, President Muhammadu Buhari said it would also provide opportunity for mentors. He said Continued on page 10

Dangote: Only a Third of NNPC's Investment in Refinery Will Be Paid in Cash

Says it has capacity to meet Nigeria’s entire petrol, diesel, jet fuel needs Project will save country scarce forex, says Emefiele Emmanuel Addeh in Abuja Africa’s richest man and the President of the Dangote Group, Alhaji Aliko Dangote, yesterday disclosed that the 20 per cent equity taken by the Nigerian National Petroleum Corporation (NNPC) in his much-awaited refinery will not

be paid in a single cash transaction. Speaking during a documentary aired on Arise News Channel, THISDAY’s broadcast arm, the renowned philanthropist noted that while a third of the $2.7 billion deal would be paid in cash, the second Continued on page 10

Kale: How We Transformed NBS in 10 Years ... Page 8

SANWO-OLU MEETS BUHARI... President Muhammadu Buhari (left) with the Lagos State Governor, Mr. Babajide Sanwo-Olu, during a meeting at the Presidential Villa, Abuja ...yesterday

WEDNESDAY SEPTEMBER 1, 2021 • T H I S D AY

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

NEWS

NATIONAL FORUM ON THE GIRL CHILD... L-R: President, Women Arise Group, Dr. Joe Odumakin; Minister of Women Aﬀairs, Dame Pauline Tallen; Vice President Yemi Osinbajo, SAN and the Executive Director, Africa Child Policy Forum, Dr. Joan Nyanyuki, at the National Dialogue Forum on the Girl Child, which held at Sheraton Hotel, Abuja.... yesterday. PHOTO: STATE HOUSE

CBN Moves against Violators of New FX Policy Directs banks to publish names, BVN of fraudulent customers James Emejo in Abuja The Central Bank of Nigeria (CBN) yesterday directed all banks to henceforth publish on their websites the names and Bank Verification Numbers (BVN) of unscrupulous customers who indulged in sharp practices to circumvent its new foreign exchange (FX) policy. The CBN said it was concerned that some customers had taken undue advantage of the policy on sale of FX for overseas personal and business travels, using fake visas as well as cancelling air tickets after purchase of Personal Travel Allowance/Business Travel Allowance. The apex bank stated these in a circular to all banks dated August 30, and signed by the CBN Director, Banking Supervision Department, Mr. Haruna Mustafa. It said the trend, if not curbed, presented a risk to the integrity and stability of the FX market. CBN, therefore, directed banks to publish on their websites within two weeks the names and BVN of defaulting customers who presented fake travel documents or cancelled their tickets and failed to return the purchased PTA/ BTA, as stipulated in the customer declaration form signed by them. The CBN had in July resolved to discontinue FX sale to Bureau De Change (BDC) operators in the country. CBN Governor, Mr. Godwin Emefiele, directed all commercial banks to immediately create designated branches for the sale and disposal of FX to customers who deserved it for legitimate purposes. He said the CBN would no longer process or issue new licences for BDC operations in the country, adding that all licences being currently processed, regardless of the stage, had been suspended. Following the development, the apex bank had announced that it will commence the immediate refund of capital deposits and licensing fees, where applicable, to BDC promoters who had pending

license applications with the bank. It said in arriving at the decision to suspend FX sale to BDC, it had advised banks to ensure that no customer was turned back or refused FX, provided that documentation and all other requirements were met. The apex bank further warned against undue delays, rationing and diversion of FX, and it directed the banks to establish electronic application and alert systems to update customers on the status of their FX requests. The CBN further reminded banks that a toll-free line had been set up at the apex bank to enable bank customers to escalate unresolved complaints relating to their FX requests.

The bank added that it would continue to closely monitor banks’ conduct and compliance with the directive in order to ensure an efficient FX market for all legitimate users, adding that any breach of the directive would be severely sanctioned. Emefiele had said regarding the BDC operators, “They have turned themselves away from their objectives. They are now agents that facilitate graft and corruption in the country. We cannot continue with the bad practices that are happening at the BDC market.” He added that there was evidence of prevailing ownership of several BDCs by the same promoters to procure multiple

FX from the apex bank. He said, “Several international organisations, embassies, patronise BDC through illegal forex dealers to fund their institutions. We will deal ruthlessly with Nigerian banks that deal with illegal BDCs and we will report foreign organisations patronising them.” Emefiele had added, “The public should note that once a customer provides basic documentation to purchase FX, all banks must immediately meet that on demand or within a stipulated timeframe sell foreign exchange to the customer. “Any customer who doesn’t receive FX along these lines must report this to their banks and where they are unsatisfied

with the resolution, they are required to contact the CBN on out toll free line 07002255226 or email cbd@cbn.ng to lodge the complaints with details of the bank transaction.” Shedding more light on the reasons for the stoppage of FX sales to BDCs, Emefiele had explained that the CBN sold over $20,000 to more than 5,500 BDCs per day, adding that the amounts translated to about $110 million per week and $5.72 billion per year. “The CBN and the government cannot continue to allow this unwholesome practice to continue in Nigeria,” he said. According to him, “In total disregard for the policies that

the CBN introduced to meet its mandate of safeguarding the value of the naira, we have continued to observe that stakeholders in some sectors have not been helpful in this direction. “In particular, we have noted with disappointment and great concern that our BDC operators have abandoned the original objectives of their establishment, which was to serve retail end users who need $5,000 or less. “Instead, they have become wholesale dealers dealing in forex to the tune of millions of dollars per transaction. Despite the fact that Nigeria is the only country in the world today where a central bank sells dollar directly to BDC operators.”

Nigeria is Not Only Country with Human Rights Challenges, Says UN Michael Olugbode in Abuja The United Nations (UN) has said Nigeria is not the only country facing myriad human rights challenges. Speaking yesterday in Abuja at a programme, titled, “UN and Partners Dialogue on Human Rights Priorities in Nigeria,” the UN Resident and Humanitarian Coordinator, Edward Kallon said, “Like other countries, Nigeria faces myriad human rights challenges. As Nigeria strives towards a nation that acknowledges the rights of all human beings with strong and effective national protection systems, UN instruments and the mechanisms they have established as well as the Constitution of the Federal Republic of Nigeria, 1999 sets the agenda for much of the work.” The programme, the first of its kind, is an initiative of the United Nations Country Team (UNCT) in collaboration with the National Human Rights Commission, Office of the UN High Commissioner for Human Rights and UN Women. Kallon, who was represented by United Nations Children’s

Fund (UNICEF) Representative in Nigeria, Peter Hawkins, said, “Through this consultation, we aim to reach a common understanding between the Government, human rights partners, civil society, and the UN on human rights priorities in Nigeria.” As part of efforts made by Nigeria to ensure respect of human rights, Kalli said, “Nigeria has ratified the nine core UN human rights treaties, including other regional instruments. The Nigerian Constitution has elaborate provisions on the protection of human rights. “In the last five years, Nigeria has been reviewed by three treaties bodies, namely, the Human Rights Committee, Committee on the Elimination of All Forms of Discrimination Against Women, and the Committee of the Protection of the Rights of All Migrant Workers and Members of Their Families. “Since 2014, the country has hosted eight special procedures mandate holders. Nigeria has been reviewed thrice under the Universal Periodic Review of the Human Rights Council (UPR) namely in 2009, 2013

and 2018. During its third UPR process, Nigeria received 290 recommendations out of which it supported 240. “The supported recommendations relate to legal and general framework of implementation, universal and cross-cutting issues, civil and political rights, economic, social, and cultural rights, women's rights, and rights of other vulnerable groups and persons.” He also revealed that most of the 290 recommendations related to SDG 16 (peace, justice and strong institutions), SDG 5 (gender equality), SDG 10 (reduced inequalities), SDG 1 (no poverty) and SDG 4 (quality education). Kallon said to effectively address protracted human rights crises around the world, the Call to Action must move beyond words and be expeditiously implemented, noting, “This initiative today, is a step towards realising, in Nigeria, the dreams captured in the Call to Action for human rights.” He added that already several UN agencies, funds and programmes are supporting various human rights initiatives in the

country, while stressing, “This consultation with Government and national partners will aim to streamline these efforts and achieve coherence, building the necessary momentum for results.” In his remarks, Executive Secretary, National Human Rights Commission, Tony Ojukwu, said, “This kind of dialogue, though long overdue, could not have come at a better time. This is because the country continues to face numerous human rights challenges in the face of activities of both state and non-state actors and we must, as a people, think outside the box for viable solutions out of this conundrum.” He said it was important for all of stakeholders to reflect deeply on the human rights situation in Nigeria with a view to drawing up a priority plan that could effectively engage the human rights challenges of the country. Ojukwu said, “As a necessary stakeholders, the UN, MDAs and CSOs should be very interested in a priority plan that could result from a dialogue like this.” He recalled that the Vienna Declaration and Programme of

Action adopted at the World Conference on Human Rights in Vienna, Austria in 1993 requested that, “Each State considers the desirability of drawing up a national action plan identifying steps whereby the State would improve the protection and promotion of human rights.” Ojukwu added, “On its own part, the Commission has developed a strategic work plan to effectively and successfully discharge its mandate for promotion and protection of human rights of Nigerians. It has established offices across all 36 states to increase access to Nigerians. “Addressing human rights issues for a huge country like Nigeria requires collaborative approach. The Commission has also coordinated the development of the current draft NAP Document on human rights. “The Commission has fully collaborated with all CSOs and Development partners who have extended the hand of partnership to it. I am happy to say that the participants across this room are all key partners of the Commission and we cherish our partnerships with you all.”

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NEWS

TUCANO FIGHTERS SET FOR ACTION... L-R: Chief of Army Staff, Lt. Gen. Faruk Yahaya; Chief of the Air Staff, Air Marshal Oladayo Amao; Commander, US Air Forces in Europe and Africa, Gen. Jeffrey Harrigian; Minister of Defence, Maj. Gen. Bashir Magashi (rtd.); US Ambassador to Nigeria, Mary Beth Leonard and Chief of Defence Staff, Gen. Leo Irabor, during the induction of the six A-29 Super Tucano fighter jets recently delivered by the US to Nigeria at the Nnamdi Azikiwe International Airport, Abuja...yesterday

PIA: NNPC Will No Longer Render Free Service to Govt, Says Kyari Emmanuel Addeh in Abuja

When the Nigerian National Petroleum Corporation (NNPC) is fully commercialised in the next few months, the corporation will no longer render free service to the federal government, the national oil company’s Group Managing Director, Mallam Mele Kyari, said yesterday. Kyari, who spoke on a national television programme, noted that from then, all services rendered to the government by the NNPC limited or its subsidiaries will come at a cost to government,

including the remittance of federation crude account funds to the planned upstream commission. He stated that the NNPC was on course towards its final incorporation, explaining that it will no longer have access to government funding, but would survive based on its internal resilience and efficiency. President Muhammadu Buhari recently signed the Petroleum Industry Act (PIA), to pave way for the full incorporation of the national oil company as a publicly quoted company, going forward.

“First of all, the PIA is very clear that within six months, we must incorporate the NNPC as a company that is bound by the Company and Allied Matters Act (CAMA). The meaning of this is that you must be fully commercial, you must be profitable. “It means that you will have no access to any other results, other than from your own production and your own productivity. So, that means that NNPC will be the different company that it has to be. “Even when you render service

to anyone, including the institutions of government, it must be at a fee and the PIA is very clear that even when we render service to the state, it would be at a fee. So, it’s going to be a different game,” he stated. He stressed that although today NNPC is in a good stead, having recently declared N287 billion profit, with the assets available to it, the company can be turned into a multi-trillion naira business organisation. Kyari said that when NNPC becomes a limited liability

FCT, Ogun, Imo, Others Secure $520m SAPZ Grant Olawale Ajimotokan in Abuja The Africa Development Bank (AfDB) and three other partners are to provide $520 million as grant to the Federal Capital Territory and other beneficiary states. The states include Kaduna, Kwara, Kano, Imo, Cross River, Ogun and Oyo and the grant is for the development of the first phase of Special Agro-industrial Processing Zones (SAPZs) in the country. The other project developmental partners are the International Fund for Agricultural Development (IFAD), the Islamic Development Bank (IsDB) and Africa Growing Together Fund (AGTF).

The Senior Special Advisor to the President of the Africa Development Bank on industrialisation, Prof. Banji Oyeyinka, revealed that the AfDB had committed the sum of $160 million, while AGTF made $50 million, IsDB $150 million, and IFAD $160 million available for the project in Nigeria. He said the SAPZ project would be flagged off before the end of 2021. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, who spoke during the virtual discussions on SAPZ, disclosed that the FCT and the states were chosen based on an assessment of their state of readiness. She said other states

would be selected for participation in subsequent phases. "This project aligns with Mr. President's diversification agenda, which has the practicality of improving economic growth. The effectiveness of the SAPZ has become essential considering the impact of the COVID-19 across the world, including its impact in Nigeria," she said. The FCT Minister of State, Dr. Ramatu Tijjani Aliyu, said the FCT Administration was fully committed to the success of the project, adding that the project would facilitate the development of satellite towns and rural communities, create jobs and employment, enhance the security of lives and properties,

generate wealth, and improve governance outcomes. She equally stated that the FCT Administration has since February 2020, submitted the SLPZ as a flagship project to the Federal Executive Council (FEC) as part of the mandatory Performance Delivery Report towards empowering 100 million Nigerians by June 2029. The minister said the Paikon-Kore grazing reserve in Gwagwalada area council has been earmarked to host the hub while associated transformation centres are to be sited in Karshi and Karu grazing reserves in AMAC and Bwari Area Council, respectively, and the Abuja Technology Village.

Abia's $56m W’Bank Loan Not Misappropriated, Projects Ongoing, Says Government Emmanuel Ugwu-Nwogo in Umuahia The Abia State government yesterday said the World Bank has not abandoned its intervention projects in the state including the Ndiegoro flood mediation project which would free the commercial city from perennial flooding. It also pointed out that the $56 million loan facility provided by the World Bank was meant for selected projects across the state and not only for projects located in Aba South State constituency. The State Commissioner for Information, Chief John Okiyi Kalu, made the clarification during a media briefing in Aba, following the controversy generated by the project implementation.

A member of the State House of Assembly, Hon Obinna Ichita, who represents Aba South state constituency had alleged that the World Bank loan was misappropriated and the projects abandoned. But Okiyi faulted such claims, saying that the projects are ongoing and that World Bank has an impeccable method of monitoring the appropriation of its loan facilities and the projects attached to it. "It is mischievous for anybody to insinuate, no matter how highly or lowly placed, that Governor Okezie Ikpeazu has misappropriated the World Bank loan. "It is malicious politics and unconscionable for anybody to say that Governor Ikpeazu collected $56 million and squandered it," he said.

The commissioner further explained that the Ndiegoro flood mediation project was still on course, adding that the money meant for it was safely kept in the project account which Abia government, "cannot independently access" without approval from World Bank based on work done. He further said the contract for the Ndiegoro flood channel project was signed in April 2020 while contractors were selected and handed over the project on June 6, 2020. According to him, work could not commence on the project as expected due to the impact of the COVID-19 pandemic, adding that the EndSARS protest in October 2020 further pushed back the commencement of the project.

Okiyi stated that the international procurement process has equally affected the project as it has not been possible to procure the tunnel boring machine(TBM) which a Dubai firm was to use in digging underground channel without pulling down buildings. However, he stated that with the difficulty being encountered in the procurement of TBM the stakeholders have agreed to adopt surface tunneling for the Ndiegoro project, adding that the 36 months contract time line would be met. The commissioner also said the six-lane Port Harcourt road with bus terminals fully funded by the state government would be completed alongside the road components of the Ndiegoro flood mediation project.

company, it will operate in a competitive environment, with the sole aim of making profits. The GMD pointed out that the NNPC decided to be more transparent in its operations because of the perception of Nigerians that the company operates in a very opaque environment, explaining that even for its lenders, the condition of accountability remains sacrosanct. “We know for sure, that historically many people have doubts about what NNPC does. Our shareholders think that we're an opaque company, that we're not representing them well, and that we don't know what we're doing and I'm sure many times you see us in the media, in the public space, in very many forums, everybody thinks that nobody knows what NNPC is doing. “We know that trust is very essential for our business. We also know that our partners, you know, financial institutions, even commercial partners would like to see and know what we are

doing, so that they can invest in our company. “So we know that making transparency and accountability, a primary focus of our activities will serve the best interests and will also enable our partners to see what we are doing, so borrowing became easier for us,” he added. On Nigeria’s gas expansion programme, he stated that the country hadn’t done enough investing in it, adding that COVID-19 had actually proven that gas can be more resilient than oil. With the assent to the PIA, he explained that gas monetisation, both domestically and for export and massive investment in gas infrastructure will take the front burner to create prosperity and jobs for Nigerians. Kyari stressed that the plan is to develop what he described as the “white structure” for gas delivery in the country, to ensures that all parts of the country under 200 km max from the trunk line, is fully hooked to the gas system.

Sanwo-Olu,USConsular-GeneraltoSpeak at USGEAA 4th Anniversary Webinar The Lagos State Governor, Babajide Sanwo-Olu will on Friday deliver an address at the fourth anniversary of the United States Government Exchanges Alumni Association (USGEAA). A statement yesterday explained that the governor would feature as the Special Guest of Honour, while the Acting Consular General of the US Consulate, Lagos, Mr. Stephen Ibelli, will be the keynote speaker. The theme of the virtual meeting is: ‘Creating Opportunities for Youth Participation in Social and Economic Activities in Lagos State.’ President of the association, Dr. Jude Ememe, explained that the anniversary webinar was specifically designed, “to address issues, affecting Nigerian youths, because they represent the strength and future of society.” “The youths represent the energy and aspirations of the nation. Therefore it is imperative for leaders at all levels to harness and manage the potential and resources of young citizens, for the social and economic advancement of the society,” he added. According to Ememe, challenges facing youths would continue to attract members of the public and

media attention, “because they represent over 60 per cent of the Nigerian population, with serious implications for Lagos State, as the social and commercial epicentre of the country.” The statement issued by the Head of USGEAA Media Committee and Fellow of the prestigious Hubert Humphrey Fellowship, Mrs Adeze Ojukwu, “The webinar would provide the opportunity for the governor to share perspectives on programmes and opportunities being provided by the Lagos State Government to promote youth participation in social and economic activities in his administration.” The programme would be moderated by foremost broadcaster and Fellow of International Visitors' Leadership Program(IVLP), Mr. Soni Irabor.’ “The webinar promises to be highly engaging, stimulating and resourceful, with a wide array of distinguished participants from Nigeria, US and other parts of the world,” it added. The association is an umbrella group comprising over 20 programmes, sponsored by the US government to promote educational and cultural co-operation of both countries.

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NEWS

NACCIMA DIPLOMATIC LUNCHEON… L-R: Deputy High Commissioner, British High Commission in Nigeria, Mrs. Grill Atkinson; Executive Director, Nigerian Export Promotion Council, Mr. Segun Awolowo; National President, NACCIMA, Mr. PHOTO: KINGSLEY ADEBOYE John Udeagbla and Deputy Head of Mission, Pakistan Embassy in Nigeria, Mr. Aamu Abbass, during the NACCIMA Diplomatic Luncheon in Abuja ...yesterday

Kale: How We Transformed NBS in 10 Years Says he wasn’t deterred by political attacks Emmanuel Addeh in Abuja The immediate past Statistician General of the Federal (SGF) and Chief Executive Officer of the National Bureau of Statistics (NBS), Dr. Yemi Kale, yesterday gave an account of his stewardship at the agency in the last 10 years. Kale spoke on Arise News Channel, THISDAY’s broadcast

Gunmen Raid Hospital in Bayelsa, Cart Away Cash, Valuables Olusegun Samuel in Yenagoa Unknown gunmen in the early hours of Tuesday raided the Diete Koki Memorial Hospital,Opolo, Yenagoa, the Bayelsa State capital, carting away cash and valuables belonging to patients and staff of the hospital. The incident, which reportedly occurred about three o' clock in the morning saw the armed men entering the hospital through the perimeter fence at the back of the building. One of the doctors on call, Okeleghel Awudumapu, who narrated his ordeal to our correspondent, said the two-man gang took him unawares while returning from his call room. Doctor Awudumapu, said his belongings and that of patients from the labour ward and their family members were all carted away. Reacting to the incident, the Medical Director, Dr Emmanuel Fetepigi, described the act as barbaric, adding that management would collaborate with the Ministry of Health to ensure measures were put in place to forestall future occurrence. Meanwhile, a security man at the hospital, Mr James Benini, noted that it was the second time burglars invaded the hospital premises. Spokesman of the Bayelsa Police Command, said he was yet to be briefed about the incident by the Divisional Police Office (DPO) in charge of the area.

arm. He explained that when he took over as the NBS helmsman, only scanty data were being published, which was not even significantly used by policymakers, businesses and other data users. In addition, he stated that then, there was very poor funding, coupled with the fact that the data collection process was archaic. Kale, who served two terms under both former President Goodluck Jonathan and the current President Muhammadu Buhari’s government, left service after a 10-year double tenure. He said he met a demoralised workforce when he assumed office. He said, “We had a situation where the staff motivation for doing their work was very low. Some of them had told me that in

the past they used to be ashamed to say where they work. But that has changed because they believe that the work that the NBS does today is being given lots of respect.” While highlighting the support of the supervising ministers of the NBS during his two terms, Kale noted that he was not ready to keep his job by doing the wrong things, especially when they were not supported by data. He stated, “I didn't particularly care about any political attacks or any opinions that were not ideal. What I did was to ensure that we followed the correct methodology. Before the report came out I will ensure that things were done properly. “In terms of political interference, I don't think it's is new to Nigeria, I wasn't fazed by

different comments made by different people that did not agree with our work. We are not supposed to publish data that is agreed by anybody. “We are supposed to publish data that is correct and accurate in line with what comes out on the field and that's exactly what we focused on. But I think the most important thing was ensuring that my mind was focused on the mandate of the office which was to produce reliable, accurate data.” Although he said there had been some improvement in funding, which went from a paltry N100 million to about N1 billion over the years, Kale described it as still appalling compared to countries, such as Kenya whose statistical agency had a budget five times larger than Nigeria’s

and South Africa, which was almost 20 times larger. Kale stated that although the NBS had thought about selling data, in his opinion, statistics remained a public good that people should be free to use to evaluate the performance of elected officials. Generally, he stated that Nigerians liked to take decisions based on gut feeling, adding that there are still a number of policymakers within the system who accept figures, whether it favours them or not. Responding to a question on the recently released 5.01 per cent Gross Domestic Product (GDP) recorded in the second quarter of 2021, Kale said some reactions to the number were surprising. He explained that it was a base year effect, especially given that

economic activities were very low last year. According to him, “What we are doing is comparing the situation in Nigeria today to the quarter in the previous years. If you check other countries in the world, theirs were even as high as 20 per cent, countries that have never grown by 20 per cent in 20 to 30 years, but because they are compared to a period of the pandemic that’s why had those figures. “The methodologies we use for GDP are similar to what is used in every country in the world. System of national accounts is what is used to determine GDP growth in every sector and we follow those principles religiously and we use the most updated ones prescribed by the UN commission.”

Port Congestion: Lawmakers Say NPA, Customs, Others Frustrating Ease of Doing Business Port Authority accuses security agencies of multiple extortion at check points Udora Orizu in Abuja The House of Representatives Committee on Customs yesterday tackled the Nigeria Customs Service (NCS), the Nigerian Ports Authority (NPA) and other agencies over congestion of ports across the country, which is frustrating ease of doing business. This is just as the NPA has accused police and naval officers of being responsible for the persistent gridlock at the port access road at Apapa, Lagos, due to multiple checkpoints they set up to extort motorists. The lawmakers at an interactive session aimed at proffering solutions to the traffic congestions within the ports and make them economically competitive, said the country could no longer wait for the future because in the long run their might not be any functional Port. The Chairman of the Committee, Hon. Leke Abejide, listing various issues facing the ports, decried the long cargo clearing processes at the ports, saying the faster the Customs processes, the

more revenue they would generate for the nation and the agency. He said, "Bonded containers that are supposed to be dropped at sea side by the shipping lines are not being allocated to another bonded terminals together with other containers for the said bonded terminals to take the whole vessel loads to its terminal first on the cost of the importers before the bonded terminal which is the final destination pick the container to their terminal. “Apart from the cost which is abnormal and triple, there is time consumption which lead to delays make nonsense of the federal government policy of Ease of Doing Business. "Shippers’ Council in today's meeting should tell us what it is doing to monitor the excesses of all the shipping lines in trying to kill the export business by leaving containers at the ports.” In his presentation, the Acting Managing Director of the NPA, Mohammed Bello Koko, while highlighting some of the challenges faced by the agency alleged that the Police and other

security agents were fronting some area boys who extort motorists on their behalf. He said, "There’s the issue of extortion, there are multiple checkpoints at the ports extorting people. And these checkpoints are manned by police officers. “At times you find men in naval or military uniform, extorting vehicles illegally and Lagos state government has been very cooperative in terms of enforcement of the SOP as it relates to the truck call up system. “We held a meeting recently with Federal Road Safety Commission, LASTMA and other officers in the police force, and we decided that let them identify checkpoints and the essence of the checkpoints is let it not interfere with traffic. "The essence of the check point is to verify that these trucks are allowed to come in.” When asked to adopt automated terminal delivery where anyone without a ticket cannot come in or have their trucks found impounded, Koko alleged that the people to implement same were

the ones involved in extortion. He also said currently there are over 5000 old containers across the ports, occupying space for containers imported. According to him, the Customs has not auctioned any containers in recent times, which is a big challenge for them. On the delay in the movement of cargoes, he said that it's because sometimes, you find wrong documentation by the importers and illegal items combined with items that are allowed by government which they bring in. He also said there is improper understanding of Customs processes and procedures for clearing of goods create prolonged processes when people who import goods wants to take them out. Koko further attributed the non-functionality of Eastern ports to insecurity in the region. "All the ports are working, but the Eastern ports have geographical limitations. They have the longest channels that exist in Nigeria because they are near the ocean. So, because of

that location and the insecurity in that area, it makes it difficult for shipping companies to use those ports. “We have also given concessions to shipping companies and we are hoping that it will encourage more activities on those ports. We are encouraging the use of flat vessels in those areas. But the NPA cannot determine for importer where to take his cargo. Studies have shown that between 60 to 70 percent of cargoes imported is used in the southern part of the country. So, you don't expect an importer who wants to use his raw materials in a factory in Lagos or Ibadan to take his cargoes to the Eastern part of the country.” On its part, the Nigerian Customs Service, represented by the Deputy Comptroller, Tariff and Trade, Mrs. Talatu Isah, called for stakeholders’ input to stem corruption in the sector. In his ruling, the Chairman, Abejide gave Customs two weeks to reduce its long cargo clearing stages to four so as to decongest ports in the country.

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Obaseki, Makinde, Ikpeazu Flag off PDP e-registration Exercise in Anambra Confident of party’s victory at gubernatorial poll The Edo State Governor, Mr. Godwin Obaseki and his counterparts in Oyo and Abia States, Engr. Seyi Makinde and Dr. Okezie Ikpeazu yesterday flagged off the e-registration and Continuous Voter Registration (CVR) exercise in Anambra State, ahead of the November 6, 2021 date for the

state’s gubernatorial poll. Obaseki, who is also the Chairman of Peoples Democratic Party (PDP) e-Registration Committee, expressed confidence that the PDP would emerge victorious in the forthcoming election. According to him, "Anambra State is the first state that we are

launching the e-registration and CVR exercise as we were charged, as the committee on e-registration, to commence the exercise following the forthcoming election on November 6, 2021. "As far as I am concerned and have seen, PDP is the only party in Nigeria. Other parties are Special

Purpose Vehicles (SPV) for elections. Our party’s strength rests on the ward. It’s the base of the party and the e-registration launch today will be driven by the leadership of the 326 wards in Anambra State.” "With the exercise, we can register you in our portal as PDP members and also register you with the

Independent National Electoral Commission (INEC) if you are not a voter. The process is very simple,” a statement quoted him to have noted. Stating the importance of the exercise in the nation’s electoral process, Obaseki noted that eregistration would make it impos-

DANGOTE: ONLY A THIRD OF NNPC'S INVESTMENT IN REFINERY WILL BE PAID IN CASH would be through crude sales and the third would be through profits made by the corporation. He noted that there’s a lot of misconceptions around the planned 20 per cent equity holding by the national oil company, explaining that the deal also involves all the products to be churned out by the $19 billion facility, including petrochemicals. Revealing that he got the inspiration to build the refinery from India, given what he described as the painful situation whereby Nigeria, a country of over 200 million people importing all petroleum products needed for consumption. He pointed out that the project currently employs 29,000 Nigerians and 11, 000 foreigners with plans to ramp up the number to 57,000 in the coming months. The 650,000 barrels per day refinery, located in Lagos is expected to start operation in the first half of next year, with the NNPC in the process of buying 20 per cent of the refinery. Stressing that the refinery is capable of meeting the country’s entire petrol, diesel and jet fuel needs, Dangote posited that as it stands, the country expends about 25 per cent of all its import bills on bringing in petrol products into the country. The businessmen lamented that Nigeria lost between $50 billion to $60 in investments to the delayed passage of the Petroleum Industry Act (PIA), but explained that with the recent presidential assent, investors who had been sitting on the fence are now expected to move into the country. “So, these are the things that people don't really understand and I want to really clarify it. When they talk about the $2.7 billion, you know, they (NNPC) are paying one third of the money.

“Another one third of the money, again, will actually be paid through supply of crude, with the deduction of maximum of about $2 and some cents. And then the one third of it, which is another $850 to $900 million will be paid from the profit they are going to make from the business. “So it's not a cash transaction where they are paying all cash. You can see that if we don't have confidence in what we are doing, we would have asked them to pay all cash,” he stated. Dangote mentioned that one of the benefits of the refinery to Nigeria would be to stabilise the country’s currency, because as of today, about 25 per cent of the country’s foreign exchange goes to importation of petroleum products. He noted that if the country was to spend $8 billion to $9 billion for imports, for instance, that money would be saved because the refinery has the full capacity to meet every energy need of the country, whether petrol, diesel or aviation fuel, with a lot left to export, thereby generating a lot of foreign exchange for the country. “So you can see the difference, even our own balance of trade will change, it will strengthen also the naira because we're not going to have this massive avalanche of dollars going out for importing finished products of our own raw material. “This refinery that we built is very important and is going to help transform not only the oil sector in Nigeria, no, it will transform the entire economy of Nigeria, it will put millions of people directly or indirectly at work. “This will massively transform the economy and by transforming the economy, government will have more money to devote in terms of education, in terms of health

and in terms of infrastructure,” he opined. Dangote added: “It makes me feel terrible to see a country as big as Nigeria, as resourceful as Nigeria and with this sort of population that we have 200 million plus, we're importing all our petroleum products. I mean, it is very painful. “So with that, I thought in my mind, and I said that somebody has to address this issue. We tried before, in 2007 like what I said earlier on, but the government of that day changed their minds, and then we jettisoned the idea and returned them. “But right now, we came back with the support of the government to make sure that yes, we help in addressing this issue of not only Nigeria. Because I'm a Nigerian and I've benefited quite a lot from Nigeria and if there are issues to be sorted out, I should be one of those who will bring solutions to our national problems.” According to Dangote, the refinery project remains the biggest in Africa today and one of the biggest in the world, adding that a lot of Nigerians were getting massive training as a way to build in-country capacity. With the expected operationalisation of the Petroleum Industry Act (PIA), Dangote expressed confidence that investors would be attracted to the country, because before now, there was no incentive. “Before, there was no clarity, people were not really very ready and willing to put in their money. If you look at it, in the last couple of years, there has not been investment. We have lost more than $50 billion to $60 billion worth of investment,” he noted. On reasons for accepting NNPC’s 20 per cent equity, he explained that it wasn’t possible for the government to sit back

when a massive project like the refinery is ongoing because of the need for energy security, assuring that in three or maximum four years, NNPC will recoup its investment. “People keep talking about the refinery, they didn't buy only the refinery, they bought refinery with petrochemicals. I could have actually decided to do like some of my my mates here in Nigeria and just keep my money in the bank or keep the money abroad. “But you know I'm very, very passionate about Nigeria and making Nigeria great. If it’s just Dangote group making money, I would have just kept that money and participate in capital markets abroad where my money is in dollars and I am making money, but no. “We know as a country we have challenges, how do we address these issues. The only way for me is not to sit and be criticising, no, I should be part of the problem solvers and part of the change. My prayer is that I will give most of my wealth when I am alive,” he said. Also, the Governor of the Central Bank of Nigeria (CBN) Mr. Godwin Emefiele, who spoke in the documentary explained that with the coming of the refinery, Nigeria would save a lot of its foreign exchange that’s currently being used in importing refined products. He said: “Ordinarily, setting up a 650, 000 barrels per day refinery, is usually a project that is set up by sovereign countries, not by individuals, no matter how big you are, no matter how big the company is. “Our own selfish interest is that this will help to achieve our import substitution objectives and on this, you're talking about goods that are currently being imported

BUHARI UNVEILS JOB CREATION INITIATIVE, TO EMPLOY 20,000 GRADUATES ANNUALLY those who were already engaged in various industries, gained relevant experience, and built capacity over the years would have the opportunity to provide mentorship and support for young Nigerians. According to Buhari, “Beyond the skills and work experience, we will be building a new culture of mentorship and guidance that can chart a new course for skills development and work experience in our country. “We believe that as this programme creates new opportunities for 20,000 recent graduates annually, the beneficiaries will use the opportunities presented to them and maximise their 12 months of engagement.” The president added that the programme would provide a pathway for young Nigerians to gain work experience in top-tier organisations, gain relevant skills, and build the right networks for the future in various sectors, including information and communications technology, financial services, trade, manufacturing, agriculture, and agro-processing. “Other sectors include mining, telecommunications, creative industries and technology, education, health, research and development, and public sector institutions,” he stated, adding, “We believe that building the right skills and experiences across these sectors are important to sustain the economic growth we are experiencing.”

He said the programme would build on other efforts of the government to support young Nigerians, such as the N75 billion youth fund in the Ministry of Youth and Sports Development, which was created to support young Nigerians in business or with business ideas, with N25 billion released annually for three years. Buhari urged eligible Nigerians to apply for the jubilee programme, and called on the private sector to support the scheme by providing work placement opportunities, mentorship, and funding. “I would like to say thank you to the United Nations Development Programme and the European Union for their support on this vital initiative. And I hereby declare the program open,” he added. The president also explained the growth recorded in the second quarter of 2021, and said it was due to his administration's consistency in policy and innovation, as well as its focus on job creation. He stressed that the economic growth rate was the highest since his government came on board in 2015, and assured that Nigeria's Jubilee Fellows Programme would further consolidate on the success recorded. According to him, some of the key drivers of economic growth and diversification in the second quarter include telecommunications, transportation, electricity, agriculture, and manufacturing.

Buhari stated, “Tuesday, 22nd June, 2021, I set-up the National Poverty Reduction with Growth Strategy (NPRGS) steering committee to coordinate our work to fulfil my promise to lift 100 million Nigerians out of poverty in 10 years. “This is building on the positive results from the Economic Recovery and Growth Plan and the targeted response to the effects of the COVID-19 pandemic with the Economic Sustainability Plan. “These efforts have yielded results with Nigeria recording its biggest economic growth in six years with a GDP growth of five per cent in the second quarter of 2021. The sectors that drove this growth are trade, telecommunications, transportation, electricity, agriculture, and manufacturing. Each of these sectors showed significant improvement and, thus, created more jobs for our populace.” He also said, “An important part of our policies and strategies is the focus on employment and creating opportunities for our people. When this government was elected in 2015, we committed to increasing job opportunities for Nigerians and as part of our social investments programme we recruited 500,000 graduates into our N-power programme." Buhari noted that in 2019, he had directed that the number of graduates under the programme be increased to one million. He said, “These graduates

are recruited to work in agricultural, health and education institutions across the country. The N-power programme also has a non-graduate component that provides skills to tens of thousands of Nigerians in areas, such as technology, masonry, auto repairs, and carpentry." Earlier in his remarks, Minister of Industry, Trade and Investment, Mr. Adeniyi Adebayo, said the government remained appreciative of the role of the private sector in transforming economies by creating employment and employment opportunities and investments. Adebayo disclosed that startups, largely driven by young Nigerians, attracted 170 million dollars in the past year, which was the highest on the African continent. He said the Nigeria Jubilee Fellows Programme was to celebrate the country's 60th anniversary. Adebayo noted the role of Vice President Yemi Osinbajo in driving the initiative to fruition and the support of UNDP. The Resident Representative of UNDP, Mohammed Yahya, assured that the United Nations would continually support Nigeria to develop human capacity across the country. Yahya said, “Each day, young Nigerians continue to break barriers with their capacity and ingenuity. Young Nigerians have produced outstanding innovations. There is no shortage of talents in Nigeria.”

into the country with scarce foreign exchange, that we will now begin to produce them locally, thereby saving foreign exchange that the central bank would have spent importing or funding the importation of these items. “At every opportunity that I have visited that project site, I get encouraged and I seize the opportunity of those visits to encourage even other Nigerians or other businesses, whether local or foreign, that Nigeria has a lot of potential and as long as people can contemplate this kind of projects, they will receive the needed support from the CBN for the importation of plants and equipment.”

sible and difficult to rig the election as against the former practice of writing result in collation centers. He urged PDP members to take the e-registration exercise seriously to boost membership as it will create room for the party to win the election, adding, "We must join the PDP to stop the hardship in the country; like high cost of food, the killings and havoc from herdsmen, bandits and robbers. Our e-registration is the right planning for the party as the exercise will further showcase the greatness of our party.” On his part, Makinde noted: “I am from the South-West. Obaseki is from the South-South, and Ikpeazu came from the South-East; you have the full support of the Southern part of Nigeria. “If I can win election with just one member in the Oyo State House of Assembly, you can also do the same. Don't be discouraged. With the e-registration, it will be difficult to write results. They couldn't rig the Edo election; they can't also do it here. We will all rejoice come November 6, 2021 after the governorship election.”

HOW BITT EMERGED CBN’S TECHNICAL PARTNER ON DIGITAL CURRENCY had deployed a pilot. Bitt is a leader in the Central Bank Digital Currency (CBDC) industry, with subject matter experts at the intersection of technology and policy. The company deployed its flagship product in regulated, collaborative, multi-stakeholder environments, including a live CBDC in four Caribbean countries, and digital currency deployments in Barbados and Latin America. THISDAY findings also revealed that the Bitt DCMS for Eastern Caribbean Central Bank was vetted by the International Monetary Fund (IMF) and World Bank. Also, the deployment in the Caribbean countries was driven by social impact, including financial inclusion, through special features for the unbanked, on/off-ramp through an accessible agency network, and the implementation of zero-cost mobile transactions. The systems has patent-pending offline transaction capabilities, and the ability to integrate with other CBDC networks for cross-currency exchange. Overstock, which has majority stake in the company, is a more than 20 year old publicly traded company (Nasdaq: OSTK) with over $200M invested in blockchain technology related businesses. Pelion Ventures, a 35+ year old VC firm, manages OSTK investments. In addition, Bitt was the first company to digitise a national currency on a blockchain, thus creating the first synthetic CBDC, with the support of the Central Bank of Barbados Governor and the Minister of Finance. “That system is still in operation today, and is integrated with the largest bill payment processor in the country and both major telcos. “The Government of Barbados uses it to collect payments online. mMoney has grown to service thousands of merchants andmany more individuals within Barbados. It is clearly not a closed payment system. “The main product, the Digital Currency Management System, licenced to CBN is not a closed payment system. The DCMS provides the Suite of applications for the monetary authority, commercial banks, merchants, and consumers (both, banked and unbanked),” it added. A separate report also revealed that in March this year, ‘DCash’, was designed and developed by the international fintech company, Bitt, in partnership with the Eastern Caribbean Central Bank (ECCB) and it became the world’s first retail central bank digital currency

(CBDC) to be publicly issued within a formal currency union. The historic transaction was the climax of over two years of extensive research, consultations, planning, software development, operational training, merchant acquisition, customer service, and marketing achieved through collaboration with the ECCB, Bitt and multiple external stakeholders. Speaking at the virtual launch, Bitt’s CEO, Brian Popelka, had said, “CBDCs are truly transforming the way that financial transactions are conducted around the world. This change brings significant benefits especially to emerging economies.” CBN Governor, Mr. Godwin Emefiele had said the CBDC, otherwise known as the e-Naira, would bring about increased crossborder trade, accelerate financial inclusion, and lead to cheaper and faster remittance inflow. He had said the digital money would lead to easier targeted social interventions, as well as improvement in monetary policy effectiveness, payment systems efficiency, and tax collection. CBN’s Director, Corporate Communications Department, Mr. Osita Nwanisobi, explained, in a statement, that the e-Naira project had been a long and thorough process for the apex bank following its resolve in 2017 to digitise the local currency after extensive research and exploration. Nwanisobi said CBN’s decision was in line with an unmistakable global trend in which over 85 per cent of central banks were considering adopting digital currencies in their countries. The CBN pointed out that the selection of Bitt Inc. from among highly competitive bidders was based on the company’s technical competence, efficiency, platform security, interoperability, and implementation experience. The statement said, “In choosing Bitt Inc. the CBN will rely on the company’s tested and proven digital currency experience, which is already in circulation in several Eastern Caribbean countries. “Bitt Inc. was key to the development and successful launch of the Central Bank Digital Currency (CBDC) pilot of the Eastern Caribbean Central Bank (ECCB) in April 2021.” Emefiele had recently hinted that a national digital currency would be launched in October. The apex bank had also said the digital currency would be treated as a critical national infrastructure to protect it from operational and cyber-security risks.

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WEDNESDAY, ͹˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

UBAH GETS THE PRESIDENTIAL SEAL... L-R: Imo State Governor, Hope Uzodinma; Chairman, APC Caretaker Committee and Yobe State Governor, Mai Mala Buni; President Muhammadu Buhari; candidate for the Anambra governorship election, Senator Andy Ubah and Kogi PHOTO: GODWIN OMOIGUI State Governor, Yahaya Bello, during the presentation of APC ﬂag to Ubah at the Presidential Villa, Abuja...yesterday

'PIA, Water Bill Tantamount to Internal Colonisation of N’Delta'

Omon-Julius Onabu in Asaba

A coalition of Niger Delta Groups under the canopy of Forum for Ethnic Nationalities of Niger Delta (FENND) has described as outrageous the institution of certain obnoxious laws by the Nigerian state that are slanted against the Niger Delta. Citing as ridiculous three per cent allocation to the host communities in the Petroleum Industry Act (PIA), the group claimed it was a recipe for a resurgence of crisis in the oil-rich region. FENND stated that the vexatious and undemocratic provisions of the PIA, together with the Water Resources Bill, left no one in doubt that somebody was hell-bent on foisting internal colonisation on the Niger Delta region. The Convener, Dortimi Kester Tawari, noted that the constant strangulation of the region by the federal government through

administrative manipulation, did not portray the government as one genuinely concerned with the best interest of a country seeking peaceful coexistence amongst its ethnic nationalities. According to him, FENND at the end of its summit held on Saturday, August 14, 2021 in Yenagoa, Bayelsa State, reviewed the situation in the country and in particular, issues having direct impact on the Niger Delta and her people, on their environment and on the prosperity of their future generations. Addressing newsmen in Asaba, FENND vowed to initiate legal processes and pushback against identified repressive and oppressive pieces of legislation as well as sectionally motivated tendencies against the people of the Niger Delta region, as exemplified in the Petroleum Industry Act and the Water Resources Bill still before the National Assembly,

because they were clearly skewed against the region that bears the burden of the negative effects of oil exploration and exploitation especially, by multi-national oil companies such as environmental degradation. FENND said, "The question is, why the arbitrary three per cent that is neither a product of negotiation nor objective valuation of costs to the people and their environment nor compensation

for products of their land to which they have universal understanding of natural rights of claim to proceeds. The rights of claim of the nation is through the rights of claim of the Niger-Delta people." The group also took a swipe at the proponents of the Water Resources Bill presently before the National Assembly, saying it is synonymous with the notorious RUGA proposed by the Buhari administration designed to further

subjugate the largely impoverished people of the region, whose lives were intricately tied to the water resources. FENND observed, "On Water Resources Bill, we agreed and do declare that water being essential to the lives of all living things including human beings is of existential value to the people and ecosystem of the Niger Delta. The terrain of the Niger Delta compels total dependence

Wike: Our Cancer Center Will Reduce Death Rate in Nigeria Blessing Ibunge in Port Harcourt Governor of Rivers State, Nyesom Wike, has disclosed that the Dr. Peter Odili Cancer and Cardiovascular Disease Diagnostic and Treatment Centre under construction in the state would reduce death rate in the

state and Nigeria at large, when completed. Speaking shortly after inspecting the progress of work done at the health facility at Rumuokwuta Town and the sand-filled area located in Ogbum-Nu-Abali Town, the governor said the project was conceived to save life of Rivers people and Nigerians.

He explained how sad it was to see many people dying, because they did not know they hadcancer or heart-related diseases, and could not also afford the cost of going abroad to seek adequate medical attention. "Most of our people have died as a result of heart diseases, not being able to diagnose it on time.

Benue Killings: Investigate Akume, PDP Tells DSS Chuks Okocha in Abuja The Peoples Democratic Party (PDP) has asked the Department of State Services (DSS) to invite the Minister of Special Duties and Inter-Governmental Affairs and former Governor of Benue State, Senator George Akume, for questioning over his alleged role in the killings in Benue. In a statement, the National Publicity Secretary of the party, Kola Ologbondiyan, said the PDP’s position was predicated on Akume’s recent attempt at rationalising the killings and acts of violence in Benue as well as his attack on the governor of Benue state, Mr. Samuel Ortom. The PDP also asked the former Benue Governor to come clean in his alleged role in the violence ravaging the state. In the same vein, the party has asked the Economic and Financial Crimes Commission (EFCC) to immediately commence investigation into the alleged siphoning of billions of naira under Akume’s watch as governor, especially, given public apprehensions on the source of funds being used by terrorist elements to prosecute their assault on Benue state. According to the PDP. "This attack on Governor Ortom is an unpardonable assault on the generality of Benue people, particularly, the victims of the bloody attacks in the state."

The PDP described Akume’s call for a state of emergency in Benue as thoughtless, reckless and absolutely reprehensible. The party noted that the call exposed Akume’s desperation to destabilise the state having become frustrated that despite the travails they face, the people of Benue had remained united and refused to break their ranks under Governor Ortom. The PDP added: “Such sinister call can only come from an individual who is desperate to perpetuate and draw political capital from the bloodletting in the state, as a means to further subjugate and erode the constitutionally guaranteed rights of the Benue people." The PDP urged Nigerians to note that despite the killings, bloodletting and wanton destruction of property, in which eminent citizens of the state have lost their lives, Akume has never condemned the killings or sought any form of redress or succour for the people. “Instead, he is seeking ways to further subjugate the people and foist a siege mentality on them with his call for a state of emergency, at the time other leaders in the state and across Nigerians are seeking for solutions,” it added. By his action, the PDP stated, "Senator Akume has spat on the graves of the victims of the killings as well as dealt a huge slap on the

of several communities on our waters. “We observe that the Water Resources Bill is premised on Decree 101 of 1993 promulgated by the Military regime of General Ibrahim Babangida, which abrogated the Federal System of Water Governance, wherein individual states of the Federal Republic of Nigeria had jurisdiction over regulation, management and development of their water resources.

sensibilities of the Benue people and history will always remember him on this score. "Our party, standing with the people of Benue State, demands that Senator Akume should be made to come clean as his schemes have been further validated by

his unwarranted vicious attack on Governor Ortom. "If Akume meant well for Benue state, he would have been on the side of Governor Ortom and the people of the state in asking President Muhammadu Buhari to address the pall of insecurity

and put an end to the killings and acts of violence instead of seeking to further trample on the rights of the people", the PDP stated. The party also charged Ortom not to be deterred, but to remain focused in standing for his people at this critical time.

And you ask yourself, how many people have money to travel overseas. Even by the time it’s diagnosed, having the money to travel overseas becomes a problem," he said. The governor said with such health facility in Rivers State, those who suspect they have cancer or heart-related diseases could diagnose it on time. According to Wike, experts in such field will also be attracted to the centre to support the staff strength to offer the best medial attention to Rivers people and Nigerians. "So, to us, it will act as a medical tourism. It will earn foreign currency for us. People will come from outside Nigeria. Just like we travel overseas all the time.

FG Disburses N56.84bn to MSMEs Under Survival Fund Scheme James Emejo in Abuja

The Minister of State for Industry, Trade and Investment, Mrs. Mariam Katagum, yesterday said over N56.84 billion has so far been disbursement to over 1.8 million Nigerians under the federal government's MSME Survival Fund Scheme. The N75 billion scheme is a core part of the N2.3 trillion Nigeria Economic Sustainability Plan (NESP) currently being implemented by the President Muhammadu Buhari-led administration to help cushion the impact of the pandemic with a view to boosting the economy by saving existing jobs and creating new job opportunities. The minister said the implementation of the scheme across the initial four tracks, namely payroll support scheme, artisan and transport scheme, formalisation support scheme as well as the general MSME grants had all, "yielded positive results that are verifiable and measurable and the impact is huge."

Speaking at the flag-off of the Guaranteed Off-take Scheme (GOS) which is the last track of the intervention programme, Katagum who doubles as the Chairperson of the Steering Committee of the MSME Survival Fund, explained that the 500,000 beneficiaries were initially targeted under the payroll scheme adding that 459,334 successful beneficiaries had been reached across the 36 States and the Federal Capital Territory (FCT). "Out of this number, we have recorded 43 per cent female-owned businesses and three per cent special needs," she added. The Artisan and Transport Scheme had an initial target of 333,000 Artisan and Transport beneficiaries. Also 293,336 successful beneficiaries had also accessed funding under the artisan and transport scheme across the country while 244,162 small and growing enterprises had also been successfully registered free of charge. She added that, the General

MSME Grants Scheme had provided of grants to a total of 82,491 till date. Katagum said: "To date we have successfully disbursed the sum of N56, 842,780,000.00 to 1,079,323 including those registered under CAC)." She, however, explained that the purpose of GOS was to stimulate direct local production by enabling 100,000 MSMEs in the production sector with funds to produce post COVID lockdown’ off-take products. She listed the products to include face masks, hand sanitizers, liquid soap, disinfectants and processed foods including as garri, palm oil, groundnut oil, and spices. The minister said the items procured would be handed over to the state governments for onward distribution to schools, hospitals, NGOs as well as other public and private institutions which the states may wish to consider as beneficiaries. She added: "The balance of funds from GOS will be

re-purposed and applied to other tracks where there are high numbers of applicants on the waiting list. Again, this will be applied in a very equitable manner among the states." She said: "Building on the successes recorded in the implementation of the other tracks of the scheme and in line with the plan to fully rejuvenate the economy, especially MSMEs, in the manufacturing sector, the federal government is set to roll out the last component of the survival fund known as the Guaranteed Off-take Scheme (GOS). "As you all know, the COVID-19 pandemic caused a drop in demand for corporate and household products and commodities in Nigeria just like it did in other parts of the world. "It is in response to this that the Guaranteed Off-take scheme was conceived as part of the federal government’s interventions to assist small and growing businesses that were negatively affected by the pandemic."

WEDNESDAY SEPTEMBER 1, 2021 • T H I S D AY

T H I S D AY • WEDNESDAY, SEPTEMBER 1, 2021

COMMENT

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

WHY THERE SHOULD BE NO PARTY ELECTIONS Francis E. Ogbimi canvasses the mobilisation of Nigerians for learning

ill Powell (Newsweek Magazine, June 21, 1999) described a failed nation as one that possesses the following among other features: One, it is unable to pay the salaries of workers. Two, it is a nation that is unable to collect taxes. Three, it is overwhelmed by corruption, decadence and decay; and four, it is a nation unable to guarantee the security of life and property. We can add that a failed nation cannot guarantee the well-being of its citizens. A failed nation is a retrogressing economic system. A failed nation is confronted by inter- and intra-ethnic strife. A failed nation is unable to solve any problem. A failed nation is highly indebted. There were great hopes when Nigeria and others African nations gained political independence in the late 1950s and early 1960s. Nigeria is virtually a failed nation today. Yet, it can be worse. It can come to a state when each Nigerian has no life outside his/her house and premises; no community life. It can come to be that there shall be no free movement outside our premises, no contact address, no light, no public water system, no refuse disposal system, no radio, no television, no markets, no functioning educational systems, each Nigerian man/ woman would be against every other Nigerian man/woman. Many of us would then be living in refugee camps not knowing whether the other members of the family are dead or alive. We would all be living in fear. I hear many millions of Nigerians say, God forbid! I too, say, God forbid! This demands that every Nigerian should work very hard to ensure that Nigeria does not fail and break up. The effort must not be left to any single individual or group. I laughed when I read that President Muhammadu Buhari (PMB) said he would not allow anything like ENDSARS to happen again. PMB knows about the situation in some Arab nations, including Afghanistan now. Let him send his staff to find out for him what happened in the English revolution 1640-1688, French revolution 1789-1799, Russian revolution 1905-1917, Sudan, Ethiopia, USSR, etc. The state of Hawaii of the USA is 4,400 km (2,800 miles) in the sea from continental USA. That demonstrates that it is not force that keeps a people together in a nation but the pride of belonging to a great nation. This article is part of my contribution. I am Emeritus Professor of Technology Management. I commenced a curiosity-driven research in 1986 to establish the scientific basis of the present global distribution of wealth and power and how nations develop. The research has been blessed abundantly. I have summarized the highlights of the results in a seven-book series. The eighth book is in the press. I believe that the results of our research constitute a special God’s gift-package to mankind. Why do I think that there should not be party-election in Nigeria in year 2023? First, Nigeria does not have political parties. President Dwight Eisenhower of the United States, reflecting on the issue of political parties, said, a political party deserves the approbation of American, only as it represents the ideals, the aspirations and the hopes of Americans. If it is anything less, it is merely a conspiracy to seize power. About 20 years later, Daniel Boorstin, American historian, again reflecting on the issue of political parties, said, a political party is organized for a purpose larger than its own survival; a political machine exists for its own sake, its primary purpose is survival. I agree with President Eisenhower and Boorstin. Political groups in Nigeria do not represent the ideals, the aspirations

A NATION THAT CANNOT PROMOTE ECONOMIC GROWTH IN TERMS OF INCREASED EMPLOYMENT AND WEALTH CREATION CANNOT PROMOTE PEACE AND SECURITY. INCREASED EMPLOYMENT PROMOTES ORDERLINESS BUT MASS UNEMPLOYMENT AND POVERTY COEXIST WITH INSECURITY

and hopes of Nigerians; they exist for their members. Six decades after political independence, more than 70 per cent of Nigerians are very poor today; 31 per cent of Nigerians were poor in 1960. It is clear Nigerian politicians either have no plan to develop Nigeria or do not know how to develop Nigeria. The second reason is that a nation that cannot promote economic growth in terms of increased employment and wealth creation cannot promote peace and security. Increased employment promotes orderliness but mass unemployment and poverty coexist with insecurity. The third reason Nigeria should not organize party-based election in 2023 is that history shows the political route to growth and development of a nation is usually very long, uncertain, prone to violence, risky, etc. The Europeans and Asian nations drifted about 2000-3000 years with various forms of governments before the people acquired scientific knowledge, skills and capabilities and transformed all aspects of life including politics. There is no sense continuing to emphasize a route we know is risky, very long, prone to violence and more likely not to achieve the goals and aspiration of all Nigerians. A fourth reason for my suggestion is that party-based politics in 2023 cannot be less of a do-or-die affair than that of 2019. PMB said he was afraid of 2019 elections in 2017 or so. Nigeria is much worse in all aspects now than before 2019. If PMB were honest he should say today that he is very, very, very afraid of 2023 elections. What is the alternative? There are two main aspects. First, is the political change. Election should be organized on community basis. The present geo-political zones, our largest communities should be made a federating (learning) level. Nigeria should adopt five federating(learning)-levels federation: Central, geo-political zones, state, local government and city (mayoral) governments, for more learning experiences and better coordination. Zonal leaders should be elected in the zones (communities). The election should be a simple one about the individual within the geo-political zones. The six zonal leaders so elected for the central government will come together to form the executive arm of the federal/central government. Each zonal leader would head the central government for two years. The federal government will organize election once in 12 years. Similar elections should be held in all other federating levels. The second main part of the alternative is the management of the economy; this should become the top-priority. Our research showed that learning (education, training, employment and research, integrated) is the primary basis of achieving sustainable economic growth and industrialisation. The higher the intensity of learning, the sooner the learning person or nation achieves a desired target. The highest learning rate a nation can achieve is to mobilize all her citizens for learning. Nigeria should mobilize all her citizens for learning. In the learning-nation, no one is left idle. The Nigerian economy would be transformed in a few decades. The learning-nation will create wealth rapidly, developing simultaneously all she needs to crush any divisive force. Japan mobilized all her citizens 1886-1905 and achieved industrialization. China mobilized all her citizens for learning in 1949 and achieved industrialization early 1980s. Let us demand this saving opportunity from the government of today for the benefit of the present and future generations. Prof Ogbimi,fogbimi@yahoo.com

MENACE OF LAGOS MISCREANTS AND OPEN DEFECATION Toilets should be provided in public places to stem open defecation, writes Kayode Ojewale

ery common in Lagos are street urchins positioned virtually everywhere on major roads. Immediately a vehicle breaks down, some unscrupulous and suspicious elements surround the broken -down car owner who might be busy trying to fix it or making attempts to get a repairman. One will see these hooligans appearing one by one until they form a ‘team’ with uniform mission and target. These thugs shamelessly and confidently demand money from the vehicle owner. The unsuspecting car owner may be dispossessed of his belongings once these touts see he is not ready to give them money for the space his broken-down car occupies. They claim they are entitled to it for securing the area as ‘area fathers’. These area thugs may number up to 10 and the longer one stays, the higher the risk of being attacked. For a smart and wise person, the side windows of his car should be wound up, his phones and other personal belongings must be kept in a safe place as long as these miscreants are around. It is these hoodlums who are always on standby to take advantage of any disagreement between two parties at open places. They are always looking forward to conflict situations to cause pandemonium. They would hijack any potentially-explosive misunderstanding between different tribes, religions, parties or interest groups to make it degenerate into chaos. These hoodlums are always busy causing riot in order to loot shops and steal from innocent people. They have made some areas in Lagos to be

labelled notorious and unsafe at night. Not too long ago, Lagos Governor, Mr Babajide Sanwo-Olu, through his convoy, arrested some highway robbers who specialize in criminal activities in traffic. They were nabbed at Ojota area of Lagos and later arraigned before a Magistrate court to serve as deterrent to others who indulge in such acts. These criminals make travel experience woeful. It is just a question of time: Lagos would be safe haven for all, only if every resident remains law-abiding and cooperates with security agencies. Everyone would have their mind at rest when they are in busy areas at night or during the day as the city becomes more secure and peaceful when criminals are fully dealt with. What may also call for worry and concern to many Lagosians is the outbreak of a disease that appears to have killed more people in Nigeria than COVID-19. Some states in Nigeria are already grappling with the outbreak of cholera. With hundreds dead and many infected, we cannot afford to lose guard when it comes to hygiene and sanitation given the nature of the disease. Cholera is a water-borne disease and can be contracted from polluted water that may result from open defecation. Why should preventable diseases be allowed to wreak havoc? We may all be playing the ostrich if we fold arms doing nothing about open defecation and just wishing cholera, a preventable disease, away. Defecating openly has health, economic and social impacts on the defecator and others because the diseases that result from such act are capable of infecting those who inhale the stench that oozes out of the excreta. Even in this era, where mobile toilets

are seen virtually at busy bus stops in Lagos, it becomes worrisome and disturbing that people still defecate openly. One major cause of open defecation in Lagos is absence of toilets in some houses, shopping complexes, places of worship, fuel stations, restaurants and markets. Other public places where buying, selling and many essential services are being rendered which do not have functional toilets also contribute to open defecation. In fact, most toilets around major places are not clean or ready for use. Only few toilets are clean and functional in most busy non-residential areas. The recently created Lagos State special task force, Anti-Open Defecation Gang, has a lot to do in arresting and prosecuting defaulters who defecate openly to serve as deterrent to others. Other concerned agencies under the purview of Ministry of Environment and Water Resources are also not left out in the fight against this shameful and unhealthy act. A strict panacea for nipping open defecation in the bud is to prosecute owners of private, corporate or public buildings without toilets and water facilities. Government should also not approve any plan for building, whether private or business, without toilet facilities, as this will serve as another good measure to combat open defecation. Those who operate public places with toilet facilities that are not properly maintained should be sanctioned appropriately. Same sanction should apply to private or public building owners with toilets but no running water. An ideal and proper place for defecation should be hygienic and well covered.

Maintaining a good sanitation lifestyle should be one of the attitudinal changes we all must imbibe to be free from the risk of contracting infectious diseases. Continuous awareness and sensitization on dangers of open defecation should be intensified on all media platforms. Seeing faeces in and around uncompleted or abandoned buildings located on major roadside or even on the streets isn’t new because passersby easily make themselves comfortable urinating or defecating there. Uncompleted buildings and abandoned structures, with pending court cases over ownership tussle must be quickly resolved. The judicial arm of the government should see to expediting delivery of judgments on those cases. These abandoned buildings do not only serve as easy places for defecation, they are hideouts for street urchins to carry out their criminal activities. Another major reason most open places in residential areas are littered with human faeces is lack of water occasioned mainly by irregular power supply in those neighborhoods. Residents of those areas resort to defecating in open places once they have tissue paper with them. Open defecation is not only prominently dominant in areas and places heavily occupied by markets and shops, but also at car parks and garages where loading of passengers take place. Some garages have toilets but they are not fit for use because users mess them up and no one does the cleaning regularly. Ojewale is of the Public Affairs and Enlightenment Department of LASTMA

T H I S D AY • WEDNESDAY, SEPTEMBER 1, 2021

EDITORIAL

CONCESSION OF THE ‘JUICY’ AIRPORTS Concession may be good if government abides with agreements

rom all indication, the federal government may be at advanced stage to concession some major airports in the country. Those marked for the exercise include the Murtala Muhammed International Airport, Lagos; the Nnamdi Azikiwe International Airport, Abuja; the Mallam Aminu Kano International Airport, Kano, and the Port Harcourt International Airport, Omagwa. Already, the federal government has advertised the process that will culminate in the concession of the terminals and related services located at these four airports. But whatever may be the merit of the idea, we enjoin the authorities to make haste slowly on the issue. The rationale behind the proposition, according to the Ministry of Aviation, is to develop Nigeria’s four major commercial airports and surrounding communities into efficient, profitable, self-sustaining commercial hubs, which will create more jobs and develop local industries through a Public-Private Partnership (PPP) arrangement. The THERE IS NO DOUBT execution of this idea THAT IF TRANSPARENTLY under the Aviation Sector Roadmap, the CARRIED OUT, CONCESSION OF AIRPORT federal government has explained, is FACILITIES WILL HAVE meant to achieve IMMENSE BENEFITS the objective of air transport value chain growth by developing and profitably managing customer-centric airport facilities for safe, secure, and efficient carriage of passengers and goods at worldclass standards. On the surface, this seems well-intended and is the way to go, under the prevailing circumstances. But while the idea appears noble, industry stakeholders are not optimistic that the concession will be successful because of past experiences. Besides, the concession plan is not transparent. So far stakeholders are only told what is being done and not involved in the process. So, the whole enterprise seems to be no more than the personal project of the Minister of Aviation,

Letters to the Editor

Hadi Sirika. There are also labour-related issues that are being glossed over. The 3,000 workers of Federal Airports Authority of Nigeria (FAAN) do not share Sirika’s optimism. In fact, they believe they will be shortchanged and lose their beneﬁts in the concession plan as it happened to the workers of the defunct Nigeria Airways Limited.

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

T H I S DAY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGED ENGBE 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

oncession in the aviation industry has been fraught with litigations because of lack of transparency and the tendency of government to renege on agreements. The well-known case is the one concerning FAAN and Bi-Courtney Aviation Services Limited (BASL), where the latter accused the federal government of taking over and managing the General Aviation Terminal (GAT) located at Lagos airport, which was part of the facility it inherited when it won the bid to build and operate the domestic terminal, the Murtala Muhammed Airport 2 (MMA2). BASL has won several cases against FAAN on the matter, including at the Supreme Court, but the federal government has failed to abide by the court judgements. There are other issues that the aviation minister is yet to address. For instance, the four airports government wants to concession are the main revenue earners for FAAN. In fact, earnings from the Murtala Muhammed International Airport, Lagos alone is more than that of all the other airports put together. How those 22 others scattered across the country will be sustained is a question that has remained unanswered since the government started the process to concession four of the 26 federal airports in the country. There is no doubt that if transparently carried out, concession of airport facilities will have immense beneﬁts. But the fear that existing and future litigations could hamper any such exercise is real, given the way the federal government reneges on agreements. There is therefore an urgent need to address not only the issue of what happens to the other airports but also the transparency of the process leading to the concession of the only four airports in the country that are proﬁtable.

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

A COUNTRY AT A CROSSROADS

ave the period when Nigeria was embroiled in a bloody civil war between 1967 and 1970, it has never been troubled at any other time as it is troubled now. Nigeria’s many persistent but endless ills, which range from dire economic problem to security challenges, and from corruption to technological backwardness, have caused many a Nigerian to rue the ascendance of Muhammadu Buhari to the summit of political power in the Lugardian contraption called Nigeria. Before he became President of Nigeria in 2015, after he had tried unsuccessfully on some occasions, millions of Nigerians believed him to be the political messiah who will save the country from her economic woes, and set her on path of unity and rapid national development. But before our eyes, President Buhari’s personality has unravelled, and his mystique of incorruptibility, ascetism, and fairness of mind demystified. So, then, we came to the bitter realisation that President Buhari is not the political Messiah we thought him to be. For example, it took him a considerable length of time to cobble an executive for the leadership of Nigeria. His tardiness and sloppiness in that regard boldly underlines his unpreparedness to govern the country. Elsewhere, political leaders, who are prepared for political leadership, have programmes of action ready before they’ll assume the mantle of leadership. And they

would hit the ground running as soon as they receive the baton of leadership. President Buhari’s tardiness in constituting an executive cabinet partly caused Nigeria’s economy to slip into recession; however, it slipped out of it, soon after. But has the APC-led government made efforts to diversify and shore up the economy so as to curb the high rate of unemployment and improve the living conditions of millions of Nigerians? That millions of Nigerians live below the breadline is a testament to the fact that our economy is troubled. More so, the depreciation in value of our national currency (naira) is an indictment of the federal government for its sloppy and ineffective handling of the naira. But it is not only in the area of economic development that this government has scored an abysmal low mark. President Buhari has not been able to unite the people of Nigeria. Rather, his use of double standards in handling issues involving Nigerians from diverse ethnic groups and his recruitment of people into national security outfits in utter disregard of the Federal Character principles have deepened our ethnic and religious fissures. He has not hidden his intention regarding the enthronement of the Fulani political hegemony in Nigeria. Has his lenience on his murderous Fulani compatriots not emboldened them to continue perpetrating the crime

of homicide, destruction of other people’s farmlands, and rape? And the irrepressible Boko Haram insurgents have not let up in their abduction of school pupils and students for ransom. Surprisingly, the Boko Haram insurgents, who blighted the educational prospects of teenage girls by putting them in the family way, are being considered for pardon on the grounds that the insurgents have become repentant. Is that proposition not preposterous? However, the APC-led government is using strong-arm tactics to squelch voices of dissent in the polity. And it has clamped down on such secessionists as Sunday Adeyemo (Igboho) and Nnamdi Kanu for their clamouring for the creation of the sovereign states of Oduduwa and Biafra. The treatment of Igbo and Yoruba people vis-a-vis the Hausa/Fulani people by President Buhari has lent credence to the theory that islamization of Nigeria is afoot. So, the vituperations and outrage of Gov. Samuel Ortom against the inaction of President Buhari on the Fulani herders and farmers’ clash are understandable. It is doubtless that Fulani cattle herders, who live peripatetic lifestyle, have embarked on an expansionist move to take over the ancestral land of the natives in Plateau, Nasarawa, and Benue States. Benue state, for example, has become a river of blood. No day passes without gunmen ransacking villages and killing people in the state. Chiedu Okoye, writerlyadichie@gmail.com

WEDNESDAY, ͹˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

Seven Southern States Fail to Meet Sept. 1 Deadline to Outlaw Open Grazing Akeredolusignsbillintolaw Propositionstilltrappedinmanystates’assemblies NoneinLagos,Edo,Anambra Obinna Chima in Lagos, James Sowole in Akure and David-Chuddy Eleke in Awka Seven states in the southern part of the country, have failed to meet the deadline set for today, September 1, 2021, to ban open grazing in the region, THISDAY findings have shown. But the Ondo State Governor, Mr. Oluwarotimi Akeredolu, SAN, beat the deadline yesterday, when he signed into law, the Anti-Open Grazing Bill passed by the State House of Assembly. THISDAY checks showed that the legislation was still stuck in the Houses of Assembly of some of the states, including Enugu, Delta Akwa Ibom and Osun States. On the other hand, Lagos, Anambra and Edo States were yet to send any bill related to the matter to their respective lawmaking arm, further findings have revealed. However, Ondo, Rivers, Ekiti, Bayelsa, Cross River, Ogun, Abia, Oyo, Ebonyi and Imo States have all enacted the anti-open grazing law. But in some of the states that had enacted the law, it has yet to be fully operational which has

raised concerns about the willing to implement the law in those states. A source at the Anambra State House of Assembly, yesterday, said they were yet to receive any bill to outlaw open grazing in the state. THISDAY also learnt from the clerk of the Anambra State House of Assembly, Mr. Pius Udoh that, “So far, there is no law yet, but the Assembly may be thinking in the direction. "I have been away for some time, but if there has been a law, I will know. As at today, there is no law yet, but you know the way this thing works. Once an action has been initiated, the law can be actualised in a short while," he said. In Lagos, a source also told THISDAY that the bill was still being prepared by the Ministry of Justice. Also, it was gathered that the Edo State government was still consulting with stakeholders on the matter. In order to put an end to the killing of farmers and destruction of farmlands by herdsmen in the region, the 17 governors in the southern region had fixed a

September 1, 2021, target to enact the legislation. The 17 southern governors, had in a meeting held in Lagos on July 5, 2021, urged states in the region to ensure that the legislation against open grazing of cattle was put in place on or before September 1. Following the governors’ resolution, most of the states sent the bills to their respective assemblies. But before the resolution of the governors, the anti-open grazing law was already operational in Ogun, Abia, Oyo, Ekiti, and Ebonyi States. However, from Ondo, the Commissioner for Information and Orientation, Donald Ojogo, disclosed the signing of the bill by Akeredolu in a statement, adding that the ceremony took place at the governor’s office. Akeredolu, while signing the law said, "The move is in line with the resolution of the Southern Governors' Forum at its last meeting in Lagos, where September 1st was set as the deadline for governors in Southern Nigeria to sign the Anti-Open Grazing Bill into law.

"This is worthwhile and a very laudable development aimed at stemming needless instances of skirmishes, conflicts as well as infractions on the enviably peaceful disposition of the good people of Ondo State. "It is very pertinent to aver and indeed, reiterate that the law shall rather, engender a more cordial, mutually benefiting relationship amongst residents of the state irrespective of ethnicity, religion or creed. For emphasis, no particular group of persons is the target. "While it is the hope of government that all residents

would take an ample advantage of this Law to enhance our socioeconomic well-being in Ondo State, compliance of same shall be given the utmost attention. Government shall pursue with vigour, through lawful means, to ensure strict compliance. "In this regard, details of the new law shall be made available to the public for proper information, more depth of understanding on contents as well as other relevant areas." In a related development, the Enugu State House of Assembly, yesterday, held a public hearing on the bill.

This was just as the Miyetti Cattle Breeders Association (MACBAN) in the state has asked for three months to study the bill. In attendance at the session held at the Assembly complex were community leaders and traditional rulers, clerics, youths, farmers, opinion leaders, political leaders, cattle rearers and other stakeholders. The session was chaired by the Deputy Speaker, who pointed out that the bill had passed the Second Reading and that it was aimed at ushering in peaceful coexistence between native farmers and the itinerant herdsmen.

Fayemi Restores Suspended Workers' Consequential Adjustment Says no worker'll be sacked

Victor Ogunje in Ado Ekiti The Governor of Ekiti State, Dr. Kayode Fayemi, has ordered immediate restoration of the suspended consequential adjustment of workers on grade Levels seven and eight in the state civil

FAREWELL VISIT... The outgoing Ambassador of Republic of Tunisia, Mr. Jalel Trabeisi (left), receiving a souvenir from President Muhammadu Buhari, during a PHOTO: GODWIN OMOIGUI farewell visit to the Presidential Villa, Abuja...yesterday

service. Fayemi also assured that no worker would be sacked as a result of shortfall in the allocation to Ekiti State from the federation account. The consequential adjustment was suspended in July after a meeting of the government and the organised labour, which was caused by economic downturn and reduction in allocation to Ekiti from the federal coffers. In a statement in Ado Ekiti on Tuesday by the Commissioner for Information, Hon. Akin Omole, Fayemi said the stakeholders' meeting was an update on the ongoing economic measures adopted to mitigate the impact of COVID-19 pandemic on the state’s finances, the shortfall in Federation Accounts Allocation Committee (FAAC) and internally-generated revenue (IGR). He said: "The Government of Ekiti State wishes to inform the general public about some far-reaching decisions that were taken at the August edition of the Economic Review Committee meeting. "Sequel to the agreement with the leadership of the Organised Labour in June 2021, an Economic Review Committee (ERC) was designed to meet monthly, five days after Federation Accounts Allocation Committee release and keep Labour abreast of the financial position of the state and actions to be taken. "The analysis showed that due to other obligations such as payment of Counterpart Fund

for water projects, payment of outstanding judgement debts, and other urgent commitments of government, which require over N400 million only, the net received from FAAC could not accommodate the state’s proposed expenditure for the month of August 2021. "After exhaustive deliberations at the meeting, the state government reached agreement on restoration of the Consequential Adjustment of the Minimum Wage for officers on grade levels 7 and 8, which was hitherto put on hold due to shortfall in revenue from FAAC occasioned by the Covid-19 pandemic to be implemented in August, while the arrears will be paid in September, 2021. "Restoration of Consequential Adjustment of the Minimum Wage of officers on Grade levels 9 to 12 which was hitherto put on hold due to shortfall in revenue from FAAC occasioned by the Covid-19 pandemic to be implemented in the month of September, 2021; Payment of 100% Subvention to Ekiti State University Teaching Hospital has been restored. "Subvention to Ekiti State University, Ado-Ekiti (EKSU) and Bamidele Olumilua University of Education, Science and Technology, Ikere-Ekiti (BOUESTI) has increased from 50% to 60% and will be reviewed upwards in the month of September 2021; 25% reduction in the salary of all political office holders, including Permanent Secretaries and Executive Secretaries is still in place".

Passenger Traffic Remains at 40% One Year after Nigeria Reopened Airspace Aviation industry coming alive again, experts say Chinedu Eze Almost one year after the federal government reopened Nigeria’s airspace to international travel after the COVID-19 lockdown, air travel has remained at 40 per cent of 2019 levels, data gathered by THISDAY have revealed. The government reopened the airspace on September 5, 2020 to international flights. Data obtained from the Federal Airports Authority of Nigeria (FAAN) indicated that in the last quarter of 2019, Nnamdi Azikiwe International Airport, Abuja, recorded 1, 031, 977 international passenger movement. But in the same period in 2020, passenger movement declined to 440, 275 and further decreased to 157, 689 between January and June 2021. At the Murtala Muhammed International Airport, Lagos, FAAN

recorded 307, 906 arrivals and 338, 607 departures, bringing it to a total of 646, 513 passengers from January to June 2021. Conversely, in the same period in 2019, FAAN recorded 713, 707 arrivals and 773,502 departures, making it a total of 1, 487, 209, from the Lagos International Airport. Further review of the data revealed that international passenger movement at the Murtala Muhammed International Airport, Lagos, in 2020 was 1, 046, 568 as against the 3, 202, 837 recorded in 2019. At the end of 2019, the Murtala Muhammed International Airport recorded total passenger movement of 17, 761, 455, comprising domestic and international, as against 9, 426, 297 recorded in 2020, reflecting the devastating effect of the COVID-19 pandemic

on air transport. Reacting to the development, experts explained that despite the reopening of the Nigerian airspace for international flights in September last year, there were still countries not allowing in-bound travel due to COVID-19. “Nigeria opened its airspace, but there were restrictions in many countries, which were not allowing non-citizens into their airspace and the few that allowed foreigners had stringent conditions that were not easy to meet,” said travel expert and organiser of Akwaaba African Travel Market, Ikechi Ukoh. Ukoh also explained that leisure travel, such as Nigerians going on holiday and visiting relations accounted for most traffic out of the country, while others were for business. He said leisure travel accounted for about 70 per cent of

all outbound travel from Nigeria in 2019, stating that in 2020 to 2021, leisure travel was not opened in many countries. Ukoh said Johannesburg, which is popular destination for Nigerians, was also partially closed last year. He pointed out that hiccups in the processing of passport and the high cost of the product, followed by the suspension of passport production also affected international travel from Nigeria. He said many Nigerians who arrived the country and wanted to renew their passports and travel back to their countries of residence became stranded because of the delays in the production of passports. According to Ukoh, “We reopened our airspace in September, but did we really reopen? How many places could Nigerians travel

to? So those who travelled were those who had compelling need to travel. “Most traffic out of Nigeria was leisure. About 60 to 70 per cent of outbound passenger traffic in 2019 comprised those who travelled for leisure and religious obligation. In 2020 and 2021, these destinations were not open to Nigerians, so those who wanted to travel did not travel. “London is another major destination to Nigerians. UK was partially open and the US was also not easy to access, especially with visa issues, as it became difficult to book appointment for visa.” However, Managing Director of Finchglow Travels and immediate past President of the National Association of Nigeria Travel Agencies (NANTA), Bankole Bernard, told THISDAY that despite the slow progress compared to 2019,

air travel was beginning to pick up gradually. Bernard said the aviation industry was coming alive again. He said, “Although with numerous challenges, like devaluation of the Naira that has made the cost of ticket to go up, restriction in most countries due to health risks, and countries taking comparative advantage over others are factors affecting air travel at this time,”. Meanwhile, the International Air Transport Association (IATA) said Nigeria and other African countries lost $7.7 billion in 2020 to restrictions put in place by governments to combat the spread of COVID-19. IATA's regional vice president for Africa and the Middle East, Kamil Alawadi, disclosed that seven million employees suffered as a result, while eight airlines went bankrupt in Africa.

WEDNESDAY SEPTEMBER 1, 2021 • T H I S D AY

T H I S D AY ˾ WEDNESDAY SEPTEMBER 1, 2021

MIDWEEKPOLITICS

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

Commodore Olawunmi: Putting FG on the Spot Following the revealing interview by a former intelligence agent, Commodore Kunle Olawunmi (Rtd), the sanctity of the Nigerian intelligence agencies as well as the oath of oﬃce taken by President Buhari Buhari has been put to question, writes Emameh Gabriel

Buharii

here is no better time for the government to address the litany of speculations in the public space to douse down the fear and suspicious among Nigerians that there are identified and profiled Boko Haram sponsors within the government circle than now. The allegations is becoming one too many that most Nigerians think sweeping such declassified information under the carpet could amount to complicity and indictment on the part of the government. Last week, Nigerians were stunned by a 50-minute interview on a live television show in which a former intelligence agent confidently raised the alarm that powerful forces within the government, including governors and staff in the presidency are sponsors of Boko Haram. He also alleged that there is a sinister move by certain individuals he said he would not want to name on air to Islamise Nigeria. The interview came on the heels of the attack at the Nigerian Defense Academy (NDA), Kaduna where two officials were killed and one other kidnapped. The Nigerian government has been battling with insurgency in some parts of the north, one last one decade, a situation that has continued to take a huge chunk of the country’s annual budget with thousands of lives already lost to the war and million others displaced. In the revealing interview, Commodore Kunle Olawunmi, (Rtd) who some analysts said was not only audacious but was possessed by righteous anger, was emotional following the incident at the NDA, a place he said he knew the in and out of its daily activities. Kunle Akiwunmi who is also a Professor of Global Security Studies had in the interview alleged among others that some governors, ministers and senators are sponsors of Boko Haram and the government knows them. He said there is delibrate security breach in all government institutions every Friday when they are opened for Jumat prayers. He said, “They come on Friday for worship. Later they become members of the mess who will later spy on the institution and plan their attack.” Commodore Kunle Olawunmi (Rtd) who served as a naval intelligence agent also said he interrogated a retired senior officer but the said officer escaped sanctions because of his ethnicity, also claimed that the fight against insurgency in the country has been widely politicised by people in government.

Olawunmi He said: “Of course the government knows sponsors of Boko Haram. In April this year, the government said they have arrested 400 BDC sponsors of Boko Haram. And Abu Dhabi also helped us arrest few Nigerians. Try them, we know them. If not that they are part of the Sharia that is going on, why can’t they bring those people out for trial? Olawunmi recounted how every attempt to nip the dreaded Boko Haram sect was frustrated in 2012 by interested persons. “You remember this Boko Haram issues started since 2012 and I was in the military intelligence then. We arrested those people. It was my organization that actually conducted interrogation and interview. And they mentioned names. I can’t come on air and start mentioning names of people that are presently in this government that I know. “The boys that were arrested mentioned some names. Some of them are governors, some of them are in the Senate. Some of them are in Aso Rock.” Commodore Olawunmi also claimed that The Department of State Service (DSS) knows those involved in the dastardly act. Asked if the Defence headquarters should share in the blame, Olawunmi explained that “the defence headquarters cannot conduct any operation that is not sanctioned by the President, no matter how little it is.” According to him, if President Buhari is not politicising insecurity, why not tow the line of late president Umar Musa Yar’Adua, “When the Yar’adua government decided to put an end to the Niger Delta militancy in 2007, what he did was simple. He called all the security chiefs

and all the intelligence chiefs and asked them to come up with a solution. Then the problem was Niger Delta and the President was Yar’adua. He was dispationate and he wanted to solve the problem.” “Within six months, we solved the problem. I remembered I had to go to Angola to bring Henry Okah. Nobody in Nigeria knew what we did, all we know is that since we conducted that operation, Niger Delta issues has remained manageable.” He accused Buhari’s government of lack of will to solve the insecurity problem, rather the government is escalating it because of tribal and religious sentiment, adding that buying of military hardware is not the solution to security problem that is premised not only on ideology but socio-cultural issues. “When you have a problem at policy level, operational level, what you need to do is to identify the centre of gravity of that problem and attack it. What they are doing, is not attacking the centre of gravity of that problem on Boko Haram and insurgency. If the President is buying super tucano, he is changing service chiefs, that is not the solution. We are looking at the wrong side. It’s not kinetic, is politics. What they should look out for is the sponsors of Boko Haram and bandits.” He wondered why suspected Boko Haram sponsors who have been profiled by DSS are still allowed to walk freely or even contest elective position or appointed into public offices. “When I worked with the DSS in 2007, when Yar’adua approved the operational order that we did, he asked us to work

The DSS would not do a thing except the Commanderin- Chief body’s language shows that this is the direction I want to go. By the time in 2023 when somebody else takes over and wants to undo some of the evil you see in this country today, you would be surprised by the names the DSS will bring out

together as a team, I was surprised at the tremendous amount of information available to the DSS. I was shocked. I was in Defense Intelligence. When they (DSS) were forced to bring out the files, I was shocked. They have so much information at the DSS. But you see, if a fish is going to get spoilt, it is going to start from the head. “The DSS would not do a thing except the Commander-in- Chief body’s language shows that this is the direction I want to go. By the time in 2023 when somebody else takes over and wants to undo some of the evil you see in this country today, you would be surprised by the names the DSS will bring out. “They have the information. The Defense Headquarters has the solution. I am not going to come here to advise them. It has to do with politics. The sponsors, people that feel that this country should be Islamised. “The end game for them is to turn the country like a Taliban type of country. It’s a mindset and anything goes. In other words, 10 percent, 20 percent casualties is allowed in trying to Islamise this country. “It’s not about the terrorists or bandits, it is about the sponsors. I have told you and I will repeat on this channel. The sponsors of Boko Haram and bandits are the problem and the Naval Headquarters, Army Headquarters, Defence Headquarters and Police Headquarters cannot do anything about that. Buhari has to do something about that. “The Interpol has the list of those that are sponsoring Boko Haram. I worked with Interpol. If they don’t know, they should ask. The government of Dubai has the list of those people during the trial of those people that were caught, “ Akiwunmi noted. He said if the government was sincere about its fight against Boko Haram, why has it not begun the trial of 400 hundred BDC operators and Boko Haram sponsors claimed to have been arrested since May this year. “Names were mentioned. They have the list. The Government also told us that they have arrested 400 sponsors of Boko Haram. Why should a government not try those people and bring peace and harmony to this nation. On the attack on NDA, he said that there must be insider collaboration in NDA. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ WEDNESDAY SEPTEMBER 1, 2021

POLITICS

2023: Contextualising the Zoning Algorithm Ahead of the 2023 presidential election, the issue of zoning/power rotation is taking the centerstage with often self-serving logic and contrived conceptual fog being generated to befuddle the conversation. Louis Achi situates the debate in the appropriate contexts

Buni

n a more familiar political sense but perhaps more fundamental philosophical reading, Nigeria has entered a transition period: a crucial leadership transition phase. This is sparking a frenzy which cannot be decoupled from the nation’s peculiar political history. As it were, in a period of disruption, nations live or die by their ability to envision new order, manage and adapt to change. In Nigeria’s case today, disruption, change/diversity management and transition are unquestionably central, dominant themes. With INEC’s scheduling of February 18, 2023 as the presidential Election Day, multi-party jostling - both overt and covert - of who and from which zone President Muhammadu Buhari’s successor will emerge from eventually is gaining momentum. Nigerians watch. Significantly, rising from their recent Lagos meeting, Southern governors proclaimed a multi-partisan resolve that the South should produce the President in 2023. But they did not finger any particular political party or zone that would produce such candidate - heightening both expectancy and some tension. This bold proclamation, perhaps understandably, drew some strident, if patchy pushback from their Northern counterparts. The zoning formula was envisaged to enable both Northern and Southern Nigeria have equal opportunity of producing the president during an eight-year presidential cycle. The zoning formula was first adopted by the Second Republic administration of Alhaji Shehu Shagari and Dr. Alex Ekwueme in 1979, under the dispensation of the National Party of Nigeria (NPN). During the first quarter of President Shagari’s second term, the military led by General Muhammadu Buhari truncated the administration, thereby derailing the South’s opportunity then to experience the plan. According to elder statesman Tanko Yakassai, “Everybody was joint owner of National Party of Nigeria. It is because of that that NPN thought of developing the concept and to assure every member and every segment of Nigeria that the exotic office of the president would one day come to their area or zone. “And this is the reason in all the political conferences that took place after NPN, the idea of zoning kept coming up in such conferences and have been adopted by some conferences as a provision in the Nigerian Constitution. Under General Sani Abacha’s 1994/1995 constitutional conference, it was recommended and the military accepted that zoning should be incorporated into the Nigerian constitution. But in a way that

Tambuwal

Abubakar

will form the basis of registration criteria for every political party. Unfortunately, Abacha died and the reforms died with him.” Power rotation or zoning is enshrined in the PDP Constitution. Article 7.2 (c) of the PDP constitution states: “In pursuance of the principle of equity, justice and fairness, the party shall adhere to the policy of rotation and zoning of party and public elective offices and it shall be enforced by the appropriate executive committee at all levels”. The constitution of the APC provides nuanced backing for zoning, though this is usually denied. It states that “without prejudice to Article 20(2)(iii) of this constitution, the National Working Committee shall, subject to approval of the National Working Committee, make rules and regulations for the nomination of candidates through primary elections. “All such rules, regulations and guidelines shall take into consideration and uphold the principle of federal character, gender balance, geo-political spread and rotation of offices, to as much as possible, ensure balance within the constituency covered.” But in Nigeria, political commitments remain something shifting quicksand.

in Party-B need not be forced on Party-A. For instance, President Muhammadu Buhari who shortly wraps up two tenures in office is in APC and from the North. Equity, justice and fairness - the current mantra in vogue - would obviously require that in APC, power should be zoned South. Significantly, at press time, the party has not taken a clear stand. For the major opposition PDP, presidential power has resided with its ramparts for 16 years. Out of this princely 16 years, the South was on the saddle for 13 and the North - 3; though it was not the fault of the South. More, the last president the PDP had was from the South in the person of Dr. Goodluck Jonathan. In this instance, if the justice/fairness/equity mantra was enlisted, then then power should go to the North in the PDP. In effect, each party should localise their transition politics within their own peculiarities and this should not be a blanket potion for every entity. The political reality and defining internal tendencies available to each party should determine their position on this crucial matter of zoning. It may be illogical to hold that because the South is looking for presidency then they should impose it on the PDP.

Defogging 2023: While the zoning proponents are indisputably pushing a legitimate quest even captured in constitution of the two major parties, their project does not necessarily delegitimize stakeholders espousing merit as a template for choosing a presidential candidate. Beyond this scenario, the emerging consensus is that if zoning must be king, it should be party-specific and not an imposition on other parties. In effect, let individual parties decide - so that what is applicable

Southern Dishonesty: Curiously, Southern Nigeria is perceived as not being honest with itself as the countdown to 2023 presidential election ticks down. The reputedly astute North has developed the manipulative political skill-sets to exploit this Achilles heel. If the South (and country probably) genuinely believe that a post-Buhari presidential power should come to their region, then the South on their own shouldn’t hesitate picking South-East which

Another dimension in this zoning algorithm is that if Yar’Adua’s three years were added to Buhari’s eighth years, it will come up to 11 years – almost at par with the years the South had enjoyed power in the Fourth Republic. This could equally spur the argument a rough balance between North and South has been achieved to-date. This will tip the argument Southwards

Tinubu

deserves the privilege. This is because, if the South is not thinking that it should go the SouthEast, then pretty few will give a hoot to which zone the coveted power goes to. Many believe that the South-East is being very unfairly treated within the larger polity - as if the zone does not matter in the political equation and yet they are singing fairness/justice/ equity from the rooftops. The question being asked with increasing and valid frequency is - is the South even fair with the big Southern equation? The realities should determine what is obtainable. PDP: Core North or North Central? If the argument is fielded that the North stands short-changed by the 13-year (South) Vs 3-year (North) presidential stint within its 16-year PDP reign, it makes logical sense then that the party should look North-wards for its presidential flag-bearer come 2023. The flip side of this calculation is that as the core North had cornered the three-year stint that came to the region under PDP, in 2023, the party then needs to look away from core North and focus on the Liberal North or North Central zone for instance. If this scenario was to play out, many believe that Southerners may not mind because they know the power is not going to the core north where it had been stubbornly resident. But then another dimension in this zoning algorithm is that if Yar ’Adua’s three years were added to Buhari’s eighth years, it will come up to 11 years – almost at par with the years the South had enjoyed power in the Fourth Republic. This could equally spur the argument a rough balance between North and South has been achieved to-date. This will tip the argument Southwards. It cannot be quickly forgotten that President Buhari, ascended the presidential throne riding piggy-back on the pungent emotive agitation for zoning to the North in post-Yar ’Adua period. Rightly or wrongly, many believe that former President Goodluck Jonathan was defeated because his party desecrated the rotational arrangement enshrined in its constitution. A conclusion derivable from this is that power shift in 2015 was, essentially a fall-out of zoning to the North. According to renowned AustrianAmerican management sage Peter Drucker, “The greatest danger in times of turbulence is not the turbulence - it is to act with yesterday’s logic.” As it were, in a period of disruption, nations live or die by their ability to envision new order, manage and adapt to change. The choice is Nigerians’ to make.

WEDNESDAY SEPTEMBER 1, 2021 • T H I S D AY

T H I S D AY ˾ WEDNESDAY SEPTEMBER 1, 2021

FEATURES

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

Abductions: How Bandits Are Fuelling Rise in North-west Out-of-School Children Francis Sardauna writes that mass abductions of schoolchildren are endangering education in North-west and, if left unchecked, will increase the number of out-of-school children in the region

he nefarious activities of armed bandits have turned the country's North-west region into a theatre of war considering the audacious fresh onslaughts on educational institutions, villages, and communities in Katsina, Zamfara, Kaduna, Kebbi, and Sokoto. It is more disturbing that the massive killings, abductions, and other heinous crimes orchestrated by the marauding bandits have become so bad that no part of the region is free from the grip of the hoodlums. The bandits' devilish acts appear to be threatening education and socio-economic activities of the agritourism region of Africa's most populous nation. The motorcycle-riding bandits have been actively involved in cattle rustling as a trade, while the kidnapping of students, teachers, farmers, and other innocent citizens for ransom, raping for 'pleasure' and engaging in mass murder as a means of reprisal attacks, sometimes against security forces in the most daring and worrisome manner. In North-West, the bad education system has taken a turn for the worse. Many schools, particularly primary and secondary schools, have been shut down due to the prevailing attacks and abduction of innocent schoolchildren in their various schools, which should be a haven for them. Schoolchildren have become both soft and primary targets of bandits. Thus, when students risk losing their lives or freedom going to school, the leaders of tomorrow are under attack. Going to school in the North-West is synonymous with charging into battle amid a swarm of flying bullets and rockets, and as of today, going to school has become a forbidden fruit in several parts of the region. Schoolchildren languish at home as the illequipped government cannot deploy alternative means of educating the students via available technologies. For instance, on December 11, 2020, bandits, armed with sophisticated weapons, stormed Government Science Secondary School Kankara in Katsina, abducting 344 male students. The hoodlums reportedly trekked with the innocent boys for about 82.5 kilometres into a forest in Zamfara State. The abduction of the schoolboys forced the state government to close its 38 boarding schools, including the science school, to forestall the future occurrence of the brutal attacks on learning facilities across the 34 local government areas of the state. The students were later released (December 17, 2020) by the hoodlums after spending six days in captivity in dehumanising conditions. Few days after their release, the bandits abducted 80 pupils of Hizburrahim Islamiyya School in Mahuta, Dandume Local Government Area of the state. The Islamic school pupils, kidnapped while returning from the Maulud celebration at Alkasim village in the same council, were freed the same day after a gunfight between security personnel and their abductors. On August 17, 2021, the bandits abducted nine pupils of an Islamiyya School in Sakkai village of Faskari Local Government Area. The whereabouts of the children are still unknown as of the time of filing this report. In Zamfara State, the hoodlums invaded Government Girls Secondary School Jangebe in Talata Mafara local government area on February 26, 2021, and abducted no fewer than 317 girls. They were later released. Federal College of Forestry Mechanisation, Afaka, Kaduna, also had its fair share of schoolchildren abduction when 39 students were kidnapped on the midnight of March 11, 2021. Nine days later, another set of bandits whisked away 23 students of Greenfield University, Kaduna. On July 5, 2021, bandits attacked Bethel Baptist School, a private college located in Kaduna's Maraban Rido area. The criminals reportedly overpowered the school security

A three-classroom block at Government Science Secondary School Kankara after the December 11 attack guards kidnapped more than 140 students and a class teacher. Pained by the attack, the Kaduna government ordered the immediate closure of 13 schools in areas identified as vulnerable to attacks by bandits. The affected schools include Faith Academy, along Kachia Road adjacent to Jakaranda; Deeper Life Academy, Maraban Rido; Ecwa Secondary school, Ungwar Maje and Bethel Baptist High School, Damishi. Others are St. Peters Minor Seminary, Katari; Prelude Secondary School, Kujama; Ibiso Secondary school, Tashar Iche; Tulip International (Boys) School, Tulip International (Girls) School, Goodnews Secondary School, St. Augustine, Kujama; Comprehensive Development Institution (CDI), Tudun Mare and Adventist College, Kujama. In Sokoto, the government closed 16 boarding schools along border towns. Jigawa and Kebbi also shut down some boarding schools near bandits-ravaged states to prevent students from being kidnapped. Not a few schools have become a no-go area.

Nine months after the release of the students of Government Science Secondary School Kankara, the school has become overgrown with grasses, having some military and mobile police officers guarding it. Governor Aminu Bello Masari is not keen on reopening the school because all the students have been moved to Government Day Secondary School Kankara, located within the Kankara metropolis. When THISDAY visited Government Day Secondary School, where the freed students are, it was observed that the school is densely populated. A classroom for 50 students now houses 150 to 170 with fewer chairs and other instructional materials. "Each class in this school (Government Day) has 150 to 200 students, and learning facilities here are inadequate. So, effective and efficient learning cannot take place with such a population," said Mustapha Aliyu, a student at the school. Aliyu, 14, among the 344 students abducted by bandits at Government Science Secondary School Kankara, wants

Going to school in the North-west is synonymous with charging into battle amid a swarm of flying bullets and rockets, and as of today, going to school has become a forbidden fruit in several parts of the region. Schoolchildren languish at home as the illequipped government cannot deploy alternative means of educating the students via available technologies

the government to convert his former boarding school to a day school and provide security to enable them to return to the school. The SSS 1 student, who walked through the valley of the shadow of death and lived to tell the story of his escape, added: "Our school has been under lock and key for the past nine months after the sad incident that befell us last year. Last December, some armed men attacked our school and kidnapped many of us. We spent six days with them before they released us. Lack of security personnel in the school was responsible for our abduction." Continuing his experience, he stated, "Few weeks after we regained freedom, we were moved to Government Day Secondary School Kankara to continue our education. But all the school classes are overcrowded. Government should convert our former school today and provide adequate security personnel to enable us to continue our science education." However, the continued closure of Aliyu's former school and other schools in the NorthWest will further depress the educational standards in the region. Therefore, there is an urgent need for state governments and education authorities to review security arrangements and procedures at all schools, particularly boarding schools in the region, to reopen them for academic activities. Security agencies should redeploy forces to the smaller villages, communities, and towns that are often more vulnerable to bandits' attacks rather than operating in state capitals. On its part, the federal government should probe the inadequate implementation of its Safe School Initiative (SSI). The federal ministry of finance and relevant state agencies should identify the 500 schools that reportedly received funding under the initiative and account for the funds provided.

T H I S D AY ˾ WEDNESDAY SEPTEMBER 1, 2021

REVIEW

Dr. Nadine Siegert: Uncovering a New Dawn for Nigerian Art Scene The new Director, Goethe-Institut Nigeria, Dr. Nadine Siegert, is a writer, researcher, curator and publisher who is committed to channelling her energy into a series of cultural and creative engagements in Nigeria as she reveals in an encounter with Yinka Olatunbosun

r. Nadine Siegert approached her seat with a warm smile covered with a mask. After it was mutually agreed upon to see each other ’s face briefly, the masks went up again but her roll-up-your-sleeves-attitude could not be masked as she revealed her plans for her tenure as director of the German cultural institution. Siegert had applied for the role while she was the Head of Culture and Development at Goethe-Institut in South Africa. She has the added advantage of being familiar with some of Nigerian artists and their works; hence she was taking her career strides from one big cultural hub to another. “I had asked my Regional Director in Johannesburg if I should apply and he said ‘yes.’ The reason is that I just joined the Goethe-Institut in 2019 and my first position was in Johannesburg. And usually, we are supposed to stay at least three years on a position and not change too often. And I was only there for one and half years when I saw the call for Lagos,’ she recounted. She became successful and subsequently received her confirmation letter. The elated Siegert saw this as an opportunity to rekindle her previous working relationship with Nigerian artists. “I won’t say it is a homecoming, that will be too much. Nigeria is a place that has meaning for me and matters to me,’’ she said. For more than a decade, she had worked at a German University, the University of Bayreuth, which housed the famous Iwalewahaus, founded by Ulli Beier- one of the co-founders of the Mbari Club in Ibadan. A non-academic intellectual, Beier lived and worked in Nigeria for about 20 years in the 50s and 60s. Upon his return to Germany in 1981, he founded Iwalewahaus where Siegert worked before she joined the Goethe-Institut. “Iwalewahaus has a big collection of paintings, sculptures, graphic works and I would say that more than 50% of these are from Nigeria. Artists like Uche Okeke, Muraina Oyelami, Bruce Onabrakpeya are part of the generation that were really important for the Nigerian art history. I was glad to work with the art collection of that institution for more than ten years,’’ she said. But beyond working with the older generation of artists from Nigeria, she had actively engaged with younger generation of artists. She was in charge of a residency which hosted Uche Uzorka, Ndidi Dike and others. “One of the former directors of Goethe-Institut here in Nigeria, Ronald Rupprecht, was working here in the early 80s and then he went to Iwalewahaus. It is the right moment to be here and I hope that I can stay long and do some work,’’ she revealed. Incidentally, Siegert had visited Nigeria three times before this new appointment by Goethe-Institut. In 2014, she was in Nsukka to attend an academic conference in honour of Obiora Udechukwu and El Anatsui. The second visit was in Lagos, 2018 where she attended a workshop at CCA called ‘Women on Aeroplanes’ and her third visit to Nigeria was in 2019 where she visited Asele Institute in Anambra state which is the legacy of Uche Okeke, run by his family. “I am in close contact with the daughters. So, I was visited the place to have a look at the archives,’’ she said. In spite of being a new resident in

Dr. Siegert

Lagos, she is still discovering the pulsating city that she had heard and read so much about. “I have some feelings already and that could change in two months, if you ask me. I find it quite lively. I don’t feel it is threatening or violent. I think Nigerians are straight-forward but still polite and appreciate you. I have some issues with the climate I have to say because I get to move around spaces that are very cold inside and

very hot outside. I am not used to air conditioners and yes, I got a little cold at the weekend but I feel much better now,’’ she said. On her hands lay the task of rebuilding the Goethe-Institut after the vandalism in October 2021. The institute was attacked and destroyed in the aftermath of the EndSARS protests but was offered a temporary accommodation first by the Alliance Francais; and then another at Victoria Island. Right

Siegert is very keen on projects that deal with sustainability and equality, publishing. Hence, she would be working with writers and journalists on the art of writing and publishing. Inspired by the Pan-African online resource platform called the House of African Feminisms of which she is a part, she plans to curate a two-year project that would boost the book eco-system

now, there are efforts towards securing a permanent office for the institute in order to set in motion all the planned activities for the season. “We are now ordering books and media for the library. We want the library to become a place where people could come and not just read German literature but also African literature. I am very interested in supporting my colleagues in the language department to make the German classes further accessible in particular now where we teach digitally. Maybe next year, we would work even more with hybrid forms, depending on the needs and interest of our clients,’’ she said. Due to the Covid-19 restriction and lack of space in the temporary office, the capacity for offering exams had reduced drastically. In the meantime, there are other programmes lined up this year in addition to the programmes already established by the previous directors. “For instance, I inherited a wonderful residency programme with institutions in Berlin, SAVVY Contemporary and the ZK/U. This year, still three artists will come from Berlin to Lagos. This is a beautiful residency project. Also, one Nigerian artist, namely Jere Ikongio, would go to Berlin in September and spend two months there to work on a project,’’ she said. Siegert is very keen on projects that deal with sustainability and equality, publishing. Hence, she would be working with writers and journalists on the art of writing and publishing. Inspired by the Pan-African online resource platform called the House of African Feminisms of which she is a part, she plans to curate a two-year project that would boost the book eco-system. “One project that I am bringing is called “We Make Books”, a networking and capacity building project for independent publishing houses. I plan to first collaborate here with Kenya and South Africa. We would also like to work with established book festivals. We’d continue to have our Support and Connect- small grant project that artists can apply for in 2022 with their projects in music, performing and fine arts. We also look forward to connecting with British Council, Alliance Francais and others,’’ she revealed. The current cultural restitution, museum discourse and digital archiving are of interest to Siegert and she hopes that through workshops and laboratories, positive outcomes can emerge. “I would love to visit Jos and the film archive there. Archives and museum collections are another strong interest of mine, and how to support them through digitalization. I want to see how GoetheInstitut can support institutions with panel discussions and artist residencies on restitution- in view of the returning Benin bronzes. It is not only important to do archiving and digitization but at the same moment, we need to think of its accessibility because archivists can also be gatekeepers. They are the ones who do not allow people in. But what then is the worth of an archive if it is not accessible? We should look at the possibilities of making archives accessible so that all these treasures and legacies become seen and known,’’ she argued. 2022 marks the 60th anniversary of Goethe-Institut Nigeria and it was on this mouth-watering anticipation of celebration with the community of creatives and cultural practitioners that the hour-long conversation with Siegert was a wrap.

WEDNESDAY SEPTEMBER 1, 2021 • T H I S D AY

T H I S D AY ˾ WEDNESDAY SEPTEMBER 1, 2021

BUSINESSWORLD R A T E S MONEY MARKET

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Liquidity Crunch Takes Toll as Banks’ Borrowing from CBN Hit N10.38tn in Eight Months

Darasimi Adebisi Deposit Money Banks (DMBs) and merchant banks in the country have made more borrowings than placements in the Standing Facilities Window of the Central Bank of Nigeria (CBN) in the first eight months of 2021, investigation by THISDAY has revealed. The financial data released by the CBN revealed that in the eight months of 2021, DMBs and merchant banks borrowed a total of N10.38 trillion compared to N5.09 trillion in eight months of 2020. The financial data also revealed that, placements with CBN by DMBs and merchant

banks dropped by 46 per cent to N2.23 trillion in eight months of 20201 from N4.18 trillion in eight months of 2020. DBMs and merchant banks through the Standing Deposit Facility (SDF) on daily basis deposit excess fund and accessed Standing Lending Facility (SLF) to borrow funds from the apex bank. In the last eight months however, the trend showed that banks borrowed more than they deposited at the window, due to the liquidity condition in the banking system, with applicable rates for the SLF and SDF at 12.5 per cent and 4.5 per cent, respectively. Competence source hinted to

THISDAY that most weak Tier-2 and Tier-3 banks often accessed the SLF to carry out their daily business transaction, stressing that without these funds, most of them might have collapsed. Analysts attributed the increasing DMBs and merchant banks borrowing from the CBN to liquidity crunch in the system, maintaining that the Friday’s Cash Reserve Deposit (CRR) deduction is forcing an aggressive borrowing. For instance, analysts at Agusto & Co. Limited noted that the CBN’s 27.5 per cent CRR is one of the highest in the banking reserve requirement in sub-Saharan Africa. South Africa, Kenya and Ghana all

have CRR’s of below 10 per cent. Agusto & Co. in its banking sector report stated that: “We believe the elevated CRR level moderated the Industry’s performance and liquidity position during the year under review. Assuming the sterile CRR were invested in treasury securities at five per cent, N482 billion would have been added to the Industry’s profit before taxation. This would have increased the Industry’s return on average equity (ROE) by 11 per cent to 31.6 per cent in the financial year ended 31 December 2020.” Commenting on aggressive borrowing by DMBs and merchant banks, Head, Financial

institutions, Agusto & Co, Mr. Ayokunle Olubunmi, in a phone chat with THISDAY said the hike in DBMs and merchant banks borrowing from CBN showed the impact of CRR deduction policy of the apex bank. He explained: “A lot of banks are under liquidity pressure following the consistent CRR debit by CBN. The weekly debit by CBN puts banks in a very difficult situation since they don’t know how much they will debit.” On deposits by DMBs and merchant banks, he said: “banks deposit with CBN depends on factor of demand and supply. When banks have access to

enough to liquidty, that is when they take to CBN and when they don’t have enough liquidity, that is when they reduced their deposit.Also notice that there is a correlation between that window and FAAC. When FG releases FAAC, there is a lot of money in circulation and they deposit the excess funds with CBN.” The Managing Director, Highcap Securities Limited, Mr. David Adnori expressed that growing demands by DBMs and merchant banks responsible for hike in borrowing from CBN to sustain their daily business Continued on page 26

Fulfilling its Development Finance Mandate, DBN Disburses N400bn to SMEs in Four Years Ndubuisi Francis in Abuja The Development Bank of Nigeria Plc disbursed a total of N400 billion to Small and Medium Enterprises (SMEs) in the country in the past four years, its Chief Executive Officer (CEO), Mr. Tony Okpanachi disclosed on yesterday. His revelation came as the African Export-Import Bank (Afreximbank) stated that 62 per cent of women-led SMEs have been adversely impacted

by the COVID-19 pandemic, while between 27 per cent and 30 per cent of SMEs owned by men were affected. Okpanachi, who spoke at a virtual second annual lecture series of the DBN, themed, “Resilient Innovation: MSMEs’ adaptability in Uncertain Times,” said the DBN had fulfilled its mandate by championing the provision of funds for the SMEs. He stated: “As a bank, we have championed this cause through all our three

mandates of providing long term financing, capacity building and partial credit guarantees over the years. “Since commencing operations in 2017, we have disbursed over N400 billion in loans to over 150,000 Nigerian SMEs out of which 27 per cent are women-owned and 26 per cent new owned businesses respectively. This has led to the creation of over 130,000 jobs.” He stressed that in 2020 alone, the sum of N190

billion was disbursed through 19 participating financial institutions (PFIs) out of which N9.8 billion was to 6,935 firsttime borrowers, N5.7 billion to 9,066 youths, and N11.8 billion to 25,171 women-owned businesses. Cumulatively, he said, 83 per cent reported an increase in their sales after obtaining the loan, while 48 per cent were able to increase their staff strength after receiving the facility. Additionally, 125 MSMEs were also trained as part of

the bank’s capacity-building initiative through the DBN Entrepreneurship Training Programme, which was held in Abuja and Lagos, he added Okpanachi disclosed that the 2021 DBN training programme has commenced and is financed by the bank under the platform of Enterprise Development Centre, Pan-Atlantic University, Google and Wider Perspectives Limited. On why the bank shows interest in SMEs, he explained that this was because “big things

have small beginnings.” The DBN boss said: “It is at times like this that our mandate at the Development Bank of Nigeria Plc has captured in our vision which is to facilitate sustainable socio-economic development through the provision of finance to Nigerians on sound SMEs through eligible financial intermediaries.” In his remarks, the Chairman of the Board of the DBN, Shehu Yahaya, said over the years, the Continued on page 26

M A R K E T D ATA A S AT T U E S D AY, A U G U S T 3 1 , 2 0 2 1 FGN BONDS DESCRIPTION 11.150 FGNSB 11-SEP-2021 12.364 FGNSB 12-SEP-2021 12.175 FGNSB 10-OCT-2021 11.244 FGNSB 16-OCT-2021 10.296 FGNSB 13-NOV-2021

Price

Yield

BILLS Change (%)

MATURITY

OTC FX F U T U R E S

Discount Yield Change (%)

100.25

2.79

-0.50

NTB 9-Sep-21

2.76

2.76 -0.04

100.31

2.79

-0.49

NTB 16-Sep-21

2.81

2.81 -0.15

100.99

3.00

-0.31

NTB 30-Sep-21

2.90

2.91 -0.37

101.02

3.04

-0.28

NTB 14-Oct-21

2.99

101.41

3.24

-0.11

NTB 28-Oct-21

3.09

CONTRACT TENOR (MONTH) 1

Contract

Current Rate ($/₦)

NGUS SEP 29 2021 420.93

NGUS OCT 27 2021 422.38

NGUS NOV 24 2021 423.83

3.00 -0.60

NGUS DEC 29 2021 425.28

3.10 -0.82

NGUS JAN 26 2022 426.73

C Ps MATURITY

Discount Yield

Change (%)

SIBP CP I 2-SEP21 NBRP CP XIII 2-SEP-21 DUFL CP III 3-SEP-21 UNCP CP IV 6-SEP-21 CMBL CP XIII 7-SEP-21

3.72

-0.55

4.40

-0.55

5.25

5.26

-0.55

5.70

5.71

-0.53

3.75

3.76

-0.52

WEDNESDAY SEPTEMBER 1, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS

FULFILLING ITS DEVELOPMENT FINANCE MANDATE, DBN DISBURSES N400BN TO SMES IN FOUR YEARS

bank has focused on avenues to make SMEs thrive. He alluded to DBN’s fiveyear strategic plan, which includes expanding its reach, advocating for MSMEs and

expanding its capacity among others, adding this has become more crucial in the face of difficulties in the country. Also speaking, the President and Chairman, Board of

Directors, African Export– Import Bank, Prof. Benedict Oramah, said the impact of the COVID-19 pandemic on SMEs called for more concentration on SME fundings.

Oramah, who was represented Afreximbank’s Executive Vice President, Finance, Administration and Banking Services, Denys Denya said 62 per cent of women-led

small businesses have been strongly impacted by the pandemic, while between 27 per cent and 30 per cent of SMEs owned by men were impacted.

He regretted that African SMEs are largely suffering digital gap, adding that this led to huge obstruction in the continent’s supply chain during the lockdown.

OPEC+ Sees Tighter Oil Market Until May 2022 Emmanuel Addeh in Abuja with agency report The Organisation of Petroleum Exporting Countries (OPEC) and its allies expect the oil market to be in deficit at least until the end of 2021 and stocks to stay relatively low until May 2022, sources told Reuters yesterday. OPEC+ led by Russia meets today to set policy, during which it is likely to roll over existing policies despite pressure from the United States to pump

more oil. Still, the forecast for a tighter market strengthens the case for a speedier output increases by OPEC+ as benchmark Brent oil prices traded close to $73 per barrel – not far off their multi-year highs on Tuesday. The comments from sources came as experts from the OPEC+ Joint Technical Committee (JTC) presented an updated report on the state of the oil markets in 2021-2022. According to the sources, the

report, which has not been made public, forecasts a 0.9 million barrel per day (bpd) deficit this year as global demand recovers from the coronavirus pandemic while OPEC+ gradually brings back production. Initially, the report had seen a surplus of 2.5 million bpd building in 2022 but it was later revised to a smaller surplus of 1.6 million bpd, according to the sources. As a result, commercial oil inventories will remain below

their 2015-2019 average until May 2022 as apposed to the initial forecast for January 2022, the JTC presentation showed, according to the sources. The JTC had expected global oil demand to grow by 5.95 million bpd this year and by 3.28 million bpd next year. It was not clear if those figures have been revised up in the latest report. The JTC meeting on Tuesday took stock of the oil market and made recommendation to the

ministerial meeting scheduled for Wednesday afternoon. The ministers of the OPEC+ group are set to discuss market developments and possibly consider whether the planned monthly increases in production by 400,000 bpd are warranted, in light of signs that global oil demand recovery could falter with the spike in the Delta variant coronavirus cases. Most analysts, as well as OPEC+ sources, signal that the group will decide on

Wednesday to proceed with the easing of the cuts. OPEC also sees growing demand despite the COVID resurgence, according to its latest Monthly Oil Market Report (MOMR). Global oil demand is expected to average 96.6 million bpd this year and exceed 100 million bpd in the second half of 2022, OPEC said in the report on August 12, keeping its estimates from a month ago unchanged despite the COVID resurgence in major economies.

BUA, Firm Sign Agreement to Construct 2,000tons/d Gypsum Powder Manufacturing Plant BUA Group has announced that it is set to commence the construction of a 2,000tons/ day Plaster of Paris (Gypsum Powder) production plant. The company made the known during the signing of

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

an agreement between BUA and MMM Erba Makina of Turkey – one of the world’s leading equipment suppliers for plaster production, to supply the equipment for the plant. Upon completion in 2022, BUA’s P.O.P (gypsum powder) production plant will be Nigeria’s largest plaster (gypsum powder) production facility.

Speaking at the signing ceremony, Chairman of BUA, Abdul Samad Rabiu said the MOU marked another milestone in BUA’s journey to becoming Africa’s leading manufacturing and infrastructure company. He said, “We are pleased to sign this agreement with a world leader in Plaster manufacturing machinery, MMM Erba

Makina, to build our 2,000tons per day P.O.P. gypsum powder manufacturing plant which we expect to be completed in 2022. We are confident in their expertise, quality of equipment and capacity to deliver on schedule. On completion, this plant will further deepen our involvement in the entire housing infrastructure value chain in Nigeria and the West

African region.” In his comments, Melih Baran Kilic, Chairman of MMM Erba expressed excitement at the opportunity to work in Nigeria with BUA Group. “We intend to bring our wealth of experience in delivering some of the world’s best plaster plants to bring this project to completion on schedule.”, he added.

BUA is one of Africa’s largest manufacturing, mining, foods, and infrastructure conglomerates with its headquarters in Lagos, Nigeria. Established in 1988 by industrialist, Abdul Samad Rabiu, BUA currently has significant assets and business interests in Cement Manufacturing, Construction, Real Estate, Quarrying & Mining amongst other.

LIQUIDITY CRUNCH TAKES TOLL AS BANKS’ BORROWING FROM CBN HIT N10.38TN IN EIGHT MONTHS activites. He said: “the opening of the nation’s economy this year aided growth in banks’ borrowing from CBN. The demand for banks loans increased tremendously.When demand on bank’s loans increase significantly and banks don’t have depositors’ money to lend, they visit CBN to borrow from the SLF.The deposit by bank’s customers are insufficient to meet loans application by customers- reason why banks and merchant banks to access more funds.” Analyst at PAC Holdings, Mr. Wole Adeyeye expressed that banks and merchant banks have no other option than to borrow from the CBN to lend to real sector.

In his words: “Since the ease of the lockdown, CBN was working with banks to improve lending to real sector.Banks are actually giving out these funds to meet their daily obligation of lending to real sector. The aim of the CBN and banks is to enable people have access to credit facility. It is indirectly CBN’s giving banks this SLF to the people. “It is like CBN improving productivity in the nation’s economy.When banks and merchant banks have excess liquidity, they take it to CBN. When they have enough liquidity, they reduced deposit with CBN.” The central bank in its January 2021 economy report disclosed that DMBs and

merchant banks made more deposit than borrowings in the standing facilities window. The CBN in its report said: “Total request for the SLF and granted from January 1–31, 2021 was N492.50 billion, made up of N68.30 billion direct SLF and N424.20 Intraday Lending Facilities (ILF) converted to overnight repo. Daily average was N35.18 billion in 14 transaction days from January 1–31, 2021 with a total interest of N0.29 billion. “Total SDF granted, during the review period, was N528.33 billion with a daily average of N26.42 billion in 20 transaction days from January 1-31, 2021. Daily request ranged from N4.70 billion to N42.59 billion. Cost incurred on SDF in the month stood at N0.08 billion.”

T H I S D AY ˾ WEDNESDAY SEPTEMBER 1, 2021

BUSINESSWORLD

MONEY

The Economics of Digital Currency As the country braces up for the introduction of the proposed digital currency by the Central Bank of Nigeria, later in the year, James Emejo examines its benefits to the economy as well as likely concerns

arlier in May this year, the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele hinted that the possibility of operating a digital currency or eNaira will soon become a reality in the country, adding that the central bank had already set up a committee, which was working on the project. The digital currency or electronic money refers to any currency, money, or money-like asset that is primarily managed, stored or exchanged on digital computer systems, especially over the Internet. The CBN’s move has so far elicited conversations around the subject matter especially in terms of the impact on monetary policy as well as the economy in general. One of the aspects of debate had been the impact of electronic money on currency management functions of the CBN particularly the cost implications on currency printing. No doubt billion of naira are committed on annual basis by the monetary authority to manage the country’s currency programme. Apart from printing and design, it costs the CBN a whole lot to also destroy old and worn out currencies as well as commit enormous resources to check counterfeiting and other forms of abuses. According to the Currency Operations Department (COD) of the CBN, the cost of printing banknotes increased by 17.93 per cent in 2019. The total cost incurred on printing of banknotes amounted to N75.52 billion in 2019, compared with N64.04 billion in 2018, indicating an increase of N11.48 billion. Also, the sum of N5.91 billion was incurred on currency distribution in the period under review, compared to N5.73 billion in 2018. According to the COD, the 3.13 per cent increase in cost was attributed to the upward review of transportation cost per kilometer and nautical miles in the period. The CBN also spent N814.60 billion on currency disposal in 2019 compared to N915.08 billion in 2018. Also, currency indent approved for 2019 was valued at about N1.34 trillion compared to N1.45 trillion in the preceding year. Also, the sum of N647.82 million was incurred on currency disposal and processing activities in 2019, compared with N662.21 million incurred in 2018. The CBN had identified high level of human intervention in currency handling processes at the branches, sale of new naira banknotes and increasing incidences of counterfeiting, poor handling habits of banknotes by the public and high cost of currency management ad the challenges facing currency management in this country. The apex bank had further in the COD 2019 annual report proffered possible solutions to the currency management challenges including collaboration with security agencies to curb the sale of naira banknotes, through sting operations and other activities and automation of currency operations in the branches to enhance efficiency and reduce manual intervention in cash handling among other measures.

ANALYSTS VIEW

However, analysts who spoke to THISDAY pointed out that the advent of digital currency could save the apex bank billions of naira from currency management

operations. Chairman, Chartered Institute of Bankers of Nigeria (CIBN), Abuja Branch, Prof. Uche Uwaleke, said cost of handling cash by commercial banks would reduce as some deposits get converted to digital currency. He said this would also weigh in on cost of currency management, which includes the huge cost incurred by the CBN in destruction of old and worn-out notes. Uwaleke said,”The plan to introduce digital currency by the CBN is a welcome development. Its expected benefits include enhancing financial Inclusion in the long run, lowering operational costs of handling physical cash as well as enhancing the efficiency of our payments system. Also, Managing Director/Chief Executive, Dignity Finance and Investment Limited, Dr. Chijioke Ekechukwu, said digital currency will eliminate restrictions on accessibility to foreign currencies and thereby enhance foreign payments and trade. He said the eNaira will reduce pressure on demand for foreign currency and external reserves adding that the value of Naira will improve significantly while the forces of demand and supply will hardly affect exchange rate. Ekechukwu added, “This is a welcome development. CBN wants a digital currency that can be regulated by them, unlike the Cryptocurrency. I think it is a good initiative.” On his part, Managing Director/Chief Executive, Credent Investment Managers Limited, Mr. Ibrahim Shelleng, “It will certainly reduce the cost of currency. Aside from the obvious design and printing costs, there are also costs of destroying old and worn notes. Counterfeiting prevention costs will also reduce. “Costs of securing and transferring notes will also drastically reduce.” Managing Director/Chief Executive, SD&D Capital Management Limited, Mr. Idakolo Gbolade, said digital currency remained a good initiative that would help to regulate the digital currency space and ensure safety in investment of their funds. He said, “This measure will increase liquidity in the economy because more funds will be channelled to the economy knowing fully well that it is being regulated and monitored by the CBN. “This will also edge inflation because of more inflow of FDIs that will increase CBN capacity to intervene adequately in the economy and reduce pressure on the Naira. This will also cause increase in investors confidence in Nigeria.”

ASSOCIATED RISKS

Uwaleke however warned of associated risks to the digital money. He said, “But there are associated concerns regarding the likely impact on monetary policy transmission, financial stability, inflation as well as the role of financial institutions. “These concerns and the level of our economic development make the suggested time frame unrealistic. Even the central banks of developed economies such as the US Fed Reserve and the European Central Bank are still researching the implications of introducing a CBDC.

“Therefore, while welcoming the idea, I expect the CBN not to be in a hurry and to commit resources to research in the area of digital currencies including possible mechanisms for controlling private virtual currencies such as crypto currencies.” Emefiele had recently hinted that a national digital currency will be launched in October. The apex bank also said that the digital currency will be treated as a critical national infrastructure to protect it from operational and cybersecurity risks. Further clarifying on the eNaira project, the CBN governor said, “You have some naira in your account and you chose to convert part of your naira into a digital wallet by way of a digital currency. We will support that. “If for instance, you have N10 million in your account. Of course, when this starts, the CBN will move some of the balances of banks with CBN to those banks in digital currency. So, you go to your bank, you have N10 million and you sat you want to N2 million out of your N10 million into a digital currency. They’ll debit your account and move it to your wallet of N2 million digital currency which you can spend across countries.” He added, “So we think that this is a noble idea and we are not the first...many other central banks are at advanced stages if revealing their own digital currency. “And our own digital currency which is tagged eNaira will certainly come into operation by the special grace of God by October and we are working very hard for this.” Emefiele added, “We believe that transactions will be cheaper and more efficient as there’ll be less...to complete. On digital economy, the Nigerian economy just like the rest of the world is going digital and cash cannot play in that space. “Therefore, eNaira which will represent the digital equivalent of cash will be used as the fiat currency to effect transactions. And in terms of financial inclusion we believe that with over 30 per cent of bankable adults still outside the financial system, the ability to have offline payment through our eNaira initiative will bring most of them into the formal financial sector.” According to him, “The use of cash is declining everywhere in the world just as in Nigeria and with the advent of digital commerce which is booming in the country, more and more people are adopting the use of electronic money to facilitate digital commerce. “So our eNaira is a digital representation of cash which means as a fiat currency, it is a fiat currency that will be just as acceptable as the physical or analogue naira. We recognize the need for wide stakeholder engagement and education to be able to create awareness for the use of eNaira as alternative to cash to further drive towards a cashless society.”

DIGITAL CURRENCY

The CBN had also said that the proposed digital currency known as eNaira will be treated as a national critical infrastructure to protect it from

operational and cybersecurity risks. The apex bank in a document obtained by THISDAY, which offered more insights into the digital money regime, especially the potential risks and mitigation in the planned adoption, also stated that there will be coexistence of traditional payment system and the CBN’s digital currency (CBDC) to address interoperability risks which may be associated with the implementation. The CBN said it will apply regulatory framework and compliance mechanisms to prevent disruptive competition for the electronic money. On the associated cost and risk of deploying/onboarding a new payment platform, it explained that medium to long- term pay-off in increased efficiency of operations is expected to offset initial outlay. The CBN added that any risk of disintermediation will be addressed by the introduction of limits on the eNaira holdings. The document further stated that the introduction of the CBDC will among other things usher new approaches to processing payments as well as bring about new bank and non- bank players in the financial system. The digital currency regime will also introduce a new range of banking services as well as integration with new systems, providing new possibilities for the payments architecture. According to the apex bank, the two-tiered model for CBDC will enable public-private partnership whereby the CBN designs the eNaira and distributes through regulated financial institutions, while the latter will in turn provide the digital cash to individuals and businesses. Essentially, under the eNaira regime, individuals and businesses will be able to transfer value in real time through existing and future payment channels. An individual will also be able to transfer value in real time while offline to other individuals and businesses. According to the apex bank, eNaira will among other things lower the cost of operations and reduced cost of cash management as well as improved visibility and insight of transaction date for financial institutions. It will also improve opportunities in the financial system, creating new business opportunities arising from emerging business models, financial products and services. The CBN further pointed out that the Central Bank Digital Currency (CBDC) will bring about increased cross-border trade, accelerate financial inclusion, cheaper and faster remittance inflows. He also said the digital money will lead to easier targeted social interventions, as well as improvements in monetary policy effectiveness, payment systems efficiency, and tax collection. CBN Director, Corporate Communications Department, Mr. Osita Nwanisobi, in a statement said the eNaira project had been a long and thorough process for the CBN with the bank’s resolve to digitise the local currency in 2017, following extensive research and explorations. He said given the significant explosion in the use of digital payments and the rise in the digital economy, the CBN’s decision followed an unmistakable global trend in which over 85 per cent of central banks are now considering adopting digital currencies in their countries.

WEDNESDAY SEPTEMBER 1, 2021 ˾ T H I S D AY

BUSINESSWORLD

INSURANCE

Investment Opportunities in Insurance Sector As delegates from within and outside Africa converge in Lagos this weekend for the 47th African Insurance Organisation (AIO) Conference, Ebere Nwoji looks at the opportunities Nigeria stands to derive from hosting the conference

he African Insurance Organisation (AIO), in search of ways of meeting its two main objectives of developing a healthy insurance and reinsurance industry across the African region and promoting interAfrican cooperation in insurance business, has found a solace in its annual AIO Conference and General Assembly. The organisation, this year, chose Nigeria as the venue of its forth coming 47th edition of the conference scheduled between September 4th to 8th, 2021 at the Eko Hotels and Suites, Victoria Island, Lagos. Industry analysts said the conference will present a vintage platform to showcase the immense opportunities in the Nigerian insurance sector to the world for investment and business partnerships. The AIO has through the previous editions of the conference championed the cause of promoting inter African cooperation and developing a healthy insurance industry since its inception in 1972. The AIO authorities said the Annual Conference and General Assembly would bring together global insurance professionals to discuss relevant topics and enhance good business practices in the insurance industry. In addition, the conference would provide the delegates the opportunity to exchange ideas and network, with exhibitions and tourism as part of the package. The main target is to promote foreign direct investments and solve the inherent problem of low insurance penetration in most countries on the continent and match global competition. Industry observers said with current choice of Nigeria as the venue of the conference this year, the regional body is no doubt focused on lifting Nigeria from the current poor position of ranking least among other countries of Africa in terms of insurance penetration, premium generation and contribution to the GDP of the country. The latest Sigma report from Swiss Reinsurance ranks Nigeria fifth among nine insurance markets in Africa in terms of premiums in 2020 but came last in terms of insurance penetration. Insurance penetration in Nigeria is at 0.5 percent while contribution to the GDP is abysmal. According to analysts, this falls much below global emerging market average insurance penetration which is currently over 2.7% while Africa’s share of the global insurance market is over 1.1% for non-life and 1.8% for life, a demonstration of the enormous growth potential within the African insurance industry, and an indicator that the insurance market is still widely untapped. Through the annual conference, AIO said

it does not only strive to lift various member countries up from their abysmal performance in terms of low penetration and poor contribution to their economies, but also connects with the outside world whom it also attracts to the conference for cross fertilisation of ideas and bilateral relationships. As Nigeria sets to receive participants from African and non African countries already trooping into the country for the conference, insurers are optimistic that hosting the conference at this time will be beneficial to the insurance sector and the economy in general. With the theme “Rebuilding Africa’s Economy: An Insurance Perspective,” insurers said their target is to portray the promising future of Nigeria and Africa to the world, intending to build the confidence of foreign investors and promote the continent’s strength in respect to its human and natural resources. The Chairman, Nigerian Insurers Association, (NIA), Mr Ganiyu Musa, speaking at a press briefing to announce the conference, said beside showcasing the Nigeria insurance industry to the outside world, hosting the conference will have multiplier effect around other service providers in the country. He said aside the theme of the conference, four other subtopics regarding contemporary issues affecting the insurance industry will be discussed. These, according to him, include Harnessing the Potential for Growth and Development in the Nigerian Insurance Market; AfCFTA and the African Insurer: Prospects and Opportunities. According to Musa, several other sub-

“Apart from the opportunity to showcase our rich culture and hospitality, it will also be a great opportunity to correct some of the misconceptions about Nigeria and her people.”

sectors like the support services and the hospitality industry will also be featured at the conference. The NIA Chairman said Nigeria stands to gain a lot as visitors are already booking hotels, which will boost the country’s hospitality industry and economy. Also speaking, the incoming AIO President, Mr Tope Smart, who is also the Managing Director of NEM Insurance Plc and immediate past chairman of the Nigeria Insurers Association, said the conference, will be attended by 48 member countries of AIO and 10 non-African countries. He said his target as the incoming president of the regional organisation and target of the local organising committee is to create awareness among people that Nigeria is a good country with good people; that Nigeria is hospitable; that the country has a very rich cultural heritage. “We want to use the event to make people who are coming to see that Nigeria is a peaceful country as against their negative perceptions about Nigeria”, Smart said. He said President Muhammadu Buhari, the Minister of Finance, Mrs. Zainab Ahmed, the Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Mr. Olorundare Sunday Thomas, including other key stakeholders in the Nigerian economy are expected to be at the AIO event. “We have invited all the key stakeholders in Nigeria. We have invited the President of the country. We have invited the Minister of Finance who supervises the finance sector. We have invited the Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission” (NAICOM). At a virtual press briefing to this effect, the Chairman, Local Organising Committee of theconference (LOC), Mrs Ebelechukwu Nwachukwu, said the conference will enable Nigeria insurers have bilateral discussions with their counterparts from other African countries and beyond. She said the conference would showcase Nigerian culture and attract patronage and opportunities for different businesses in the country. She said among those that would benefit immensely from the conference were those into hospitality business, IT business operators among others. She said because of the impact of the COVID 19, the conference has been planned to accommodate only 600 physical participants while others will participate virtually.

“There is no doubt that COVID-19 pandemic had left in its trail very debilitating effects on many economies and there are efforts at addressing these challenges. According to her, this informed the decision of the LOC to use the opportunity of the 47th AIO conference to contribute to discussions around how insurance can contribute to ongoing efforts at rebuilding economies seriously impacted by the pandemic. According to the LOC Chairman, the committee is working in cohort with the AIO Secretariat and has assembled a strong faculty to deliver the different papers from the main conference theme to the sub-topics. She said the resource persons include Jakkie Cilliers of the Institute of Security Studies, South Africa; Belhassen Tanat of Munich Re.; Yinka Sanni of Standard Bank Group and Tawiah Ben-Ahmed of Metropolitan Life Insurance, Ghana. She maintained that the AIO conference will also include the Life Seminar and all related activities, stressing that the hosting of the conference is significant to insurers. “Apart from the opportunity to showcase our rich culture and hospitality, it will also be a great opportunity to correct some of the misconceptions about Nigeria and her people,” she added. She said the hybrid event, is expected to attract dignitaries from government circle, insurance sector; foreign and local investment world; Information and Communication Technology (ICT); media amongst others. The 46th edition of the conference was held at Johannesburg, South Africa between June 9th to 12th, 2019 and had the theme Insurance Penetration in Africa: Insuring the Uninsured.” Ghana hosted the 45th edition at the Labadi Beach Hotel Accra with the theme Innovation, Risk, and Future of Insurance in Emerging Markets” between May 6th to 9th 2018 . According to AIO Authorities, the 45th edition witnessed the highest number of participants with over 1,100 delegates in attendance. The 44th edition was held in Kampala, Uganda between May 21, and 24th 2014,with the theme “Furthering the Financial Inclusion Agenda of African Nations through Insurance” With these various editions of the conference and their themes, the AIO has been making efforts to ensure steady and consolidated growth of the regional insurance sector. In industry observers said with this 47th edition and its theme, the organisation is set to fill up the port holes and obstacles created by the COVID19 pandemic to the insurance sector and the economy in general.

T H I S D AY ˾ WEDNESDAY SEPTEMBER 1, 2021

BUSINESSWORLD

INTERVIEW

Chidoka: Policy Consistency Important Key to Attracting FDI In this interview, the Managing Director/Chief Executive Officer, Kairos Capital Limited, Mr. Sam Chidoka, speaks on how to reverse capital flight from Nigeria, recent policies that affect the economy and other pertinent issues. Nume Ekeghe presents the excerpts Ngeria just recorded 5.01 per cent growth in GDP in the second quarter of the year, can you elaborate on what steered this growth and where do you think Nigeria’s GDP would settle in Q3 and Q4? With the GDP figures, I think what we are having is the base-year effect because we are looking at year-on-year GDP. Q2 2020, we were at negative 6 per cent, that was the first negative and in Q3 we were at negative again and then we went into recession. So, if you compare where we were then and where we are now, you see why we have 5 per cent positive. It is not because the economy has grown by 5 per cent, but is because the base was very low. It was the first time we had a lockdown. So, there was basically no activity, but now there is no more lockdown, everywhere is open. Comparatively, if you look at the GDP numbers, all you have to do is to look at the real GDP numbers and naira terms. In Q2 2020, we were at N16 trillion or thereabout, still we are about the same place now. So, give or take, all we have done now is we’ve recovered to where we were pre-COVID. But it’s not like we’ve had 5 per cent growth. Then if you dig deep into the numbers, the different industries and what’s causing the growth, I think one of the things that should worry us in Q2 is that agriculture has not quite done as well as it’s all done in other quarters. And it’s very simple, for agriculture, people cannot go to the farms when there is insecurity,

when there are herdsmen or bandits, terrorists or whatever name you choose to call them, preventing people from going to their farms. So, you’re going to have agriculture not growing as much as it ought to grow. Agriculture has been a major contributor to GDP. The service industry is the highest, followed by agriculture, while oil and gas is just 8 per cent of GDP. We need to look at the next quarter and ensure that we solve these security problems so that agriculture can come back to is pride of place in our GDP growth. For our next quarter, I think it’s too good to be positive, maybe somewhere around 3 per cent, but it will still be a base-year effect. The Fintech space has been regarded as the new oil for Nigeria. However, in recent times there has been a lot of regulation and limitations placed on them. What’s your take on all this and what do you think should be done to actually encourage development of that sector? With technology as a whole, we have a goldmine in technology and it is not farfetched. If you look at India that provides call center services to many countries in the world, they have a billion people. All they have done is to use their population to their advantage. With 200 million people we can use our population to our advantage. I read a report of a boy that was making drones and some school from Finland has taken him away. So, anything technology we have to enhance support, and

we have to make it work, especially FinTech. Yes, there is a talk around regulation, yes, there is talk around people who are trading in the cryptocurrencies, they were putting pressure on the Naira because they were demanding for Dollar. And that demand for Dollar also was putting pressure on CBN dollar availability. But, I do not think that the easy solution of banning things will not work. What I think should work is putting the right regulation, and finding a way to collaborate with all of these firms. And if you look closely, they are young people doing this, people below the age of 30. And we have one of the youngest populations in the world. So you’ve got to make regulation, find a way to work with them and not work against them. FinTech has come to stay. The funny thing is that the big banks, the traditional banks, are switching to FinTech. I was watching the chairman of Fidelity Bank in an interview on Arise News where he said, they’re asking CBN to give them permission to close their branches because the branches are just there, nobody’s walking into the branches, everybody’s going through digital channels. All the banks are providing digital channels, and it will continue. So, whether it is a big bank, whether it is Flutterwave, whether it is Piggyvest, whoever it is, just find regulation. But they must continue to grow because when you’re dealing with 33 per cent unemployment, you’ve got to find a way to keep people employed.

What is your take on the recent developments with foreign exchange policies? We have a supply side problem as far as USD is concerned, and we need to try and solve that problem. We do not have enough supply to meet demand. But of course, the CBN is also bothered because there is a lot of arbitrage happening and there are a lot of people who are taking advantage. And it is clear why they’re taking advantage; the CBN rates and the black market rates has a big gap. If you can get dollar at this rate, and use at this rate and sell at this rate, you make money. Once you have arbitrage, people will do it. So what else is CBN has been trying to narrow the rates and the different platforms. They need to continue in that direction or continue to narrow that arbitrage. So, even if you ban the BDCs and turn it over to banks, banks are fewer and easier to regulate. There were 5,000 plus BDCs, over 3800 operational and now you have 24 banks, so they’re easier to regulate right. At the end of the day, I’m not sure it’s just so much about regulation than it is more about just not having enough FX. We need to solve our supply side challenge. How do we solve that? We need to encourage more exports; we need to export everything we can, including human capital, because the diaspora Nigerians bring in a lot of money into the country. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

WEDNESDAY SEPTEMBER 1, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS

SGF Applauds Passage of Oil, Gas Industry Act Olawale Ajimotokan in Abuja The Secretary to the Government of the Federation, Boss Mustapha, has applauded the reforms being undertaken by the federal government in the oil and gas industry. He said the initiative would place the country on the trajectory of sustainable economic development.

The SGF disclosed this yesterday when SecretaryGeneral of the Organisation of the Petroleum Exporting Countries (OPEC), Muhammad Sanusi Barkindo, paid him a courtesy visit in his office. He said the Federal Government under the leadership of President Muhammadu Buhari has achieved a milestone in the passage of the Petroleum

AIICO Pioneers Virtual Assistant in Insurance Business Ebere Nwoji

AIICO Insurance Plc said it is taking its service delivery to a new level, with the launch of a new service solution tagged ELLA. AIICO said ELLA is a dedicated instant messaging service with built-in features that helps customers make instant purchase or renew their policies, claims reporting, product and service enquiries via WhatsApp, Facebook Messenger and Telegram. AIICO is the first insurance company in Nigeria to deploy an AI-powered (Artificial Intelligence) service via the WhatsApp platform. According to AIICO, Ella is a 24-hour working solution with interactive Chabot that enhances user experience as it takes on the personality of a young, intelligent, and efficient Customer Experience Manager. It said the solution helps to reduce the time required for customers to purchase or access customer support service to a maximum of five minutes. The company, also said the platform empowers both existing and prospective customers to chat with AIICO for instant responses any time of the day, adding that the service offers simple, secure, and reliable messaging at zero cost. Commenting on the launch, AIICO MD/CEO, Mr. Babatunde

Fajemirokun said, “Our customer centric approach essentially drives the launch of Ella and deployment on WhatsApp. “With over 2 billion WhatsApp users globally and its increasing viral adoption locally, we believe it is an appropriate channel by which we can bring service closer to our customers”. The AIICO boss said his company understands how technology is transforming the world today and its impact on the lifestyle of customers. He said therefore, AIICO would continue to invest in the best technology solution to provide its customers with a great experience. He said in the heat of the 2020 pandemic and global lockdown, the Company mitigated the impact by deploying technologyenabled solutions for business continuity. “The great feedback from our customers and the marketplace is why we are laser-focused on quality service delivery irrespective of daunting challenges”, he added. AIICO Insurance is a composite insurer in Nigeria, with over 50 years of delivering quality insurance products and services. AIICO provides life and health insurance, general insurance and investment management services to create and protect wealth for individuals, families, and corporate customers.

NLNG Denies Alleged Complicit As Cooking Gas Price Hike Escalates

Peter Uzoho

As the rise in price of Liquefied Natural Gas (LPG) commonly known as cooking gas continues to escalate and some fingers being pointed towards the Nigeria Liquefied Natural Gas (NLNG) Limited as part of the cause, the company has denied the allegation. NLNG said it was erroneous that it contributed to the supply shortfall of cooking gas in Nigeria and consequent hike in the price of the product in Nigeria. The continuous rise in the price of cooking gas has plunged many users of the product, particularly the low income earners and rural residents into using firewood and charcoal to cook. THISDAY’s check revealed that currently, a 12.5 kilogram (kg) of LPG now costs between N6,000 to N7,000 to fill in some locations in the county while it now costs marketers an average of N8 million to import 20 million tons of the product into Nigeria as against between N6.8 to N7.2 million it was a few months ago. NLNG in a statement issued yesterday and signed by its General Manager, External Relations

and Sustainable Development, Mrs Eyono Fatayi-Williams, in response to a publication (not in THISDAY) said the price of LPG in the domestic market was dependent on several market factors, including the forces of demand and supply. The company maintained that on the supply side, it plays a pivotal role in the Nigerian domestic LPG market in line with the commitment it made to help deepen the market. It revealed that it had recently increased the volume of its annual commitment to the market from 350,000 to 450,000 metric tons, saying that was about 100 per cent of its Butane production. According to the statement, in 2020 alone, NLNG supplied over 80 per cent of its LPG sales (Butane/cooking gas) to the Nigerian market. “It is also erroneous, to say the least, that NLNG contributes to the supply shortfall of cooking gas in Nigeria and consequent price hike. The price of LPG in the domestic market is dependent on several market factors, including the forces of demand and supply.

Industry Act (PIA), describing it as a dream hitherto unfulfilled despite various unsuccessful attempts to enact the law in the sector. “We have shared this afternoon some of the great feats that Nigeria has achieved particularly dealing with the oil and gas industry. He commended the government for its ability to have the PIA signed into law. “The last time we had this exercise was in 1969- from 1969 to date nothing has happened dramatically in the oi and gas industry. The Act has brought to

fore the liberalization of the oil and gas industry. I believe with the time limit of one year from its implementation, we would be able to see the accruable benefits to the Nigerians”. Mustapha said. He said that despite the challenges posed by the outbreak of the Covid-19 pandemic, the federal government was able record modest achievements by constituting the Presidential Task Force on Covid-19, which metamorphosed into the Presidential Steering Committee on Covid-19 and thus provided

the roadmap for the Economic Sustainability Plan. The SGF noted that the policy has helped Nigeria to exit recession in a record time with more than five per cent growth in the economy. He further asserted that Nigeria would collaborate with OPEC so as to get the necessary support and guidance in the implementation of the Act for economic sustainability and growth. Speaking earlier, the Secretary-General of the Organisation of the Petroleum Exporting Countries (OPC),

Muhammad Sanusi Barkindo, congratulated Nigeria for exiting recession thus guaranteeing steady growth in economic development. He commended the efforts of the chairman of PSC on Covid-19 for providing purposeful leadership in the containment of the pandemic in the country through adopting appropriate strategies in line with international best practices. He noted that the passage of Petroleum Industry Act which would open a new vista for the oil and gas sector of the Nigerian economy.

PRODUCT LAUNCH…

L-R: Head Retail Sales, ipNX, Akintunde Taiwo; Divisional CEO, Retail Division, Kene Eneh; Head of Engineering Chris Oputteh; and Head, Product Management, Retail Division, Najite Ikutegbe, at the company’s launching ceremony of PHOTO: ABAYOMI AKINYELE first 1000Mbps in Nigeria called “Xtreme 1000mpbs” in Lagos... recently

Humanitarian Affairs Ministry Unveils Revamped N-Power, GEEP Schemes The Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development has expanded and restructured two of its flagship poverty alleviation and youth empowerment schemes –Government Enterprise Empowerment Programme (GEEP) and NPOWER- under the National Social Investment Programme (NSIP). Highlights of the repackaged schemes include raising the number of N-Power beneficiaries to 1 million beginning with the resumption of the previously stalled N-Power Batch C, now in two streams CI and C2, the first of which

was flagged off with 450,000 graduate and 60,000 nongraduate components and refocusing of the three arms of the GEEP-TraderMoni, MarketMoni and FarmerMoni to exclusively target marginalized youth, vulnerable women and rural farmers respectively as GEEP 2.0. GEEP 2.0 has been expanded to provide soft loans and skills to an additional one million beneficiaries with emphasis on small holder farmers in the 2020/2021 year as well as unbanked poor and vulnerable but skilled citizenry usually left out of credit delivery programmes. Its implementation model accommodates representation

at federal, state and local government levels. The loan portfolio for TraderMoni and MarketMoni have been increased from N10,000 to N50,000 while FarmerMoni will now attract N300,000 with provision for value chain and creation of digital market place for beneficiaries to sell their produce. Humanitarian Affairs Minister Sadiya Umar Faruk who presided over the on-boarding of the beneficiaries of the schemes also revealed other innovations such as the National Social Investments Management System (NASIMS), partnerships with key MDAs including NYSC, NOA,UBEC and NPHCDA on

which the ministry would be leveraging for effective implementation of its programmes and the introduction of a USSD short-code *45665# to address communication challenges by providing required connectivity and technical support for provision of information services to beneficiaries. The National Social Investment Programme (NSIP) comprises N-Power, GEEP2.0, Conditional Cash Transfer (CCT) National Home-Grown School Feeding Programme (NHGSFP), which have impacted over 12 million households in the country and are expanding their scope, according to the Minister.

NAICOM Commends Mutual Beneﬁt for Insurance Penetration Drive Ebere Nwoji Insurance industry regulator, National Insurance Commission (NAICOM), has commended Mutual Benefits Assurance Plc, for its vigorous pursuit of insurance penetration through promotion of retail insurance business nationwide. NAICOM said retail insurance is the only way to go in the struggle to deepen insurance penetration as he described the retail market segment as the sustainable power of insurance business. The Commissioner for Insurance, Sunday Thomas, who gave the commendations in Lagos when he visited one of the retail outlets of the underwriting firm

located at Challenge Bus Stop, Mushin, Lagos, noted that the underwriting firm has chosen the right path as retail remains the sustaining force for insurance. “I am very excited with what I am seeing here. This is because retail business is what will sustain insurance business. It is amazing seeing what you have here,” he stated. He noted that President Muhammadu Buhari, was desirous of pulling over 100 million Nigerians out of poverty, adding that the insurance industry would lead the way through firms like Mutual Benefits Assurance that have given many people opportunities to better their lives. Thomas, implored employees of the firm who were all delighted

to see him, to sustain their contributions to the insurance sector and by extension the economy, stressing that the people is what makes Mutual Benefits Assurance unique, and not the offices and buildings. Managing Director, Mutual Benefits Assurance Plc, Femi Asenuga, who was excited for the visit, appreciated the Commissioner for his leadership style, which he said has brought relative peace to the industry. He noted that with the structures being put in place by the commissioner, Mutual Benefits Assurance and other underwriters are better equipped to thrive and soar to lofty heights. He said the company has a motivated workforce, adding

that with the commitments being exhibited by the employees, the company has gained national popularity as it is well received in every parts of the country. Asenuga, maintained that the firm would continue to sustain its leadership role in retail marketing, adding that the firm would continue to open new grounds for insurance growth in the country. Managing Director/Chief Executive Officer! Mutual Benefits Life Assurance Limited, Ademola Ifagbayi, said the visit of the commissioner heralds a new beginning in the company, adding that the endorsement received from the commissioner acts as a moral booster to the management and staff who are ever prepared to do more.

T H I S D AY ˾ WEDNESDAY SEPTEMBER 1, 2021

BUSINESSWORLD

FEATURE

‘Financial Institutions Should Develop Understanding of Emerging Regulatory Scope’ Isah Aminu Buhari is the Vice President, Compliance Institute, Nigeria(CIN) and Co-Chair, Association of Certified Anti -Money Laundering Specialists (ACAMS). He speaks with Adedayo Adejobi on why financial institutions should seek to develop an understanding of the emerging regulatory scope, including the new risk environment

mongst the committee of nations, Nigeria’s Competency framework has been brought to the fore, especially in the areas of regulatory compliance. One organisation saddled with the task of enforcing and championing compliance amongst corporate organisations across various spheres of influence is the Compliance Institute Nigeria. And by virtue of it’s roots being from the Association of Chief Compliance Officers of Banks in Nigeria (ACCOBIN), and its recent recognition by the IFCA, Nigeria and its compliance industry, have been a major focus on the global stage, as the world focuses on its crucial role in entrenching optimal regulatory compliance philosophy among financial institutions. Speaking to THISDAY on the unique essence of the institute since its inception, Isah Aminu Buhari, Vice President, Compliance Institute, Nigeria (CIN) and Co-Chair, Association of Certified Anti -Money Laundering Specialists (ACAMS), said, ‘‘The Compliance Institute for Banks and Other Financial Institutions in Nigeria Ltd/GTE, also known as “Compliance Institute, Nigeria” (CIN) was registered in January 2015. The Institute was established to encourage, promote and revive the consciousness for regulatory compliance within and outside the financial industry in the country. The Institute seeks to build a body of professionals and corporate organisations that would be recognised for integrity, professionalism, and strict adherence to regulatory and non-regulatory standards in and outside the business environment. The Compliance Institute Nigeria, which draws membership

from employees and directors within the financial industry while it’s equally open to interested members of the Nigerian public, has come a long way since inception, receiving generous acceptance from stakeholders. Highly recognised not only by the financial institutions but also by the regulatory authorities such as the CBN, NDIC, SEC, NAICOM, and Law Enforcement Agencies (LEAs) such as the EFCC. Today, membership of the Institute is considered a pre-requisite for working in the compliance department of any financial institution in Nigeria. The Institute is, therefore, a generally recognised body for compliance professionals within the financial industry in Nigeria. Hinting on the institute’s plans to entrench optimal regulatory compliance philosophy, Aminu disclosed that, ‘‘To strengthen and enhance the acceptability of CIN, the Institute is currently engaging the CBN with a view to incorporating CIN certifications into the CBN competency Framework Policy. Regarding the potential impact of the alliance between the Compliance Institute, Nigeria (CIN) and the regulatory authorities, I can say with confidence that by virtue of its mandate and the strategic relationship with regulatory authorities, the Institute would play a crucial role in entrenching optimal regulatory compliance philosophy among financial institutions for a mutually beneficial relationship. ‘’ A major area of its strength is striking purposeful alliances across global

institutions like the Centre for National American Security. Speaking on the import of Nigeria’s participation in the second IFCA ICC, Global conference, Isah Aminu Buhari was quick to note that ‘‘As part of Compliance Institute, Nigeria’s (CIN) international partnership drive, the Institute engaged and obtained membership of the International Federation of Compliance Associations (IFCA). IFCA was formed in Dublin on November 23, 2010. It is the umbrella organisation for professional bodies that specialise in the practice of compliance. Membership is open only to not-for-profit associations and professional bodies, such as Compliance Institute, Nigeria (CIN), that have a primary focus to promote compliance, ethics, and the career progression of their respective members. So, in effect, membership comprises national compliance bodies from around the world that have been established for the benefit of the compliance profession and its members. In a nutshell, the purpose of IFCA is to be the global voice of the Compliance Profession. As you might be aware, the CIN became a full member of IFCA on September 22, 2020. By becoming a member of IFCA, the CIN gained access to a global platform amongst other Compliance professionals and other stakeholders. It means the CIN certifications will have global recognition. It also means the Compliance Institute, Nigeria (CIN) will on an ongoing basis, have access to international professional networks and best practices.’’ Disclosing plans on efforts made at

being chartered, he said, ‘‘the Compliance Institute, Nigeria has engaged a consultant to facilitate the achievement of this objective. The Institute intends to engage the Central Bank of Nigeria to sponsor a Bill for a charter at the National Assembly. This will no doubt lend more credibility to the process and as you know there is a nexus between enhanced regulatory compliance and the promotion of a sound financial system which is a core mandate of the Central Bank of Nigeria. We are committed to the course we have chosen for our great Institute and our dream is to become chartered by the end of 2021.’’ Although not a profit-making institution, it has been able to achieve the profit of improved knowledge of Compliance in Nigeria?, Aminu enthused in these words, ‘‘As you are aware, the Compliance Institute, is guaranteed by trustees and as such it is not a profit-making body. Right from inception, the Compliance Institute, Nigeria Board Of Trustees directors have been working on pro-bono. As the Institute’s membership base increased over the years, revenue acquired largely from membership fees are used to fund the institute’s activities. Additionally, most of the institute’s operations are carried out virtually and this has further reduced overhead costs over the years. The institute has since achieved break-even and is already self-sustaining. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

WEDNESDAY SEPTEMBER 1, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS

NNPC, Kaduna Govt Sign MoU on Gas Utilisation, Expansion Emmanuel Addeh in Abuja The Nigerian National Petroleum Corporation (NNPC) and the Kaduna State Government have signed a Memorandum of Understanding (MoU) for utilisation and expansion of gas supply in the state. Speaking at the MoU Execution Ceremony, the Group Managing Director of NNPC, Mallam Mele Kyari, described the moment as yet another watershed in the federal

government’s “Decade of Gas” initiative, which is aimed at utilising the nation’s abundant gas resources to power the nation’s economy. A statement by the Spokesman of the corporation, Mr Garba Muhammad, in Abuja said that this will be achieved through a number of strategic gas expansion projects such as the ongoing OB3 and Ajaokuta-Kaduna-Kano Gas Pipeline Projects. The event, which was facili-

tated by the Gas Aggregation Company of Nigeria (GACN) would ensure long-term involvement and support of Kaduna State Government and key gas sector players such as the Nigerian Gas Company (NGC), the Nigerian Gas Marketing Company (NGMC) and virtual pipeline companies to provide gas supply assurance to industries within the state on competitive terms. “We all know that Kaduna used to be a hub when it comes

to industries. It is our hope that this MoU signing will help provide the gas needed for some of those industries to come back to life,” Kyari stated. He said the corporation was committed to the commercialisation of Nigeria’s abundant natural gas resources to support balanced economic growth and job creation across the country, stressing that as the world transits to low carbon energy, the nation’s gas resources would continue to be

an important source of clean energy for today and the future. “There is no better way of making cheaper and cleaner energy than delivering gas into the domestic market,” he declared. The NNPC helmsman further stated that the corporation would continue to engage with stakeholders and partners to secure early market and ensure that the economic benefits of the AKK gas pipeline are maximised. “NNPC is leading this

coordinated effort with State Governments and private sector investors to develop demand framework for immediate and long-term gas supply solutions ahead of the completion of the AKK gas pipeline project,” he noted. The GMD also expressed gratitude to the Kaduna government for hosting NNPC’s facilities such as the Refinery complex, the Depot, the ongoing AKK gas pipeline and Independent Power Plant Projects (IPPs).

Zee OIL Gets DPR’s Permits to Deepen Oil, Gas Services Peter Uzoho Zee Oil and Gas has been granted permits by the Department of Petroleum Resources (DPR) to extend its oil and gas service footprints. The oil and gas operator was recently granted five major permits by the industry apex regulatory body to offer key services across vital segments of the local oil and gas market. The permits position Zee Oil and Gas as one of the foremost operational and technical servicing firms in the most valuable market in Africa’s largest economy. The firm’s new market position is further strengthened by its proven expertise and undisputed operational testimonials as it was put through regulatory scrutiny before the permits were granted. The latest permits grant the company authorization to undertake engineering services, carry out electrical installation and maintenance work, supply equipment and material services which comprise valves, nozzles, flanges, seals, ‘O’ rings, bolts

and nuts. The permit also allows the oil firm to run Personal Protective Equipment (PPE) and chemical supply (general purpose and Analar grade), as well as deliver goods, materials and petroleum products road haulage in the oil and gas industry. Speaking on the importance of the DPR’s permits granted to the firm, the Chief Executive Officer of Zee Innovative Developments Limited, Mr. Ekene Ugbebor, said, “We continue to demonstrate an apt understanding of the oil and gas industry. “This unrivalled market depth serves as a key success factor in all servicing and consulting engagements for our clients as we have consistently delivered efficient, cost-effective oil and gas support programs that keep delighting our clients. “The combo of permits granted to our firm by the Department of Petroleum Resources serves as a fresh lever for extending our impact across the industry network as we gear up to stimulate further efficiency in the market”.

HoS Lauds 50 Civil Servants on Oxford Leadership Programme Shortlist Olawale Ajimotokan in Abuja The Head of Service of the Civil Service of the Federation, Dr. Folasade Yemi-Esan, has commended the 50 officers of the Nigerian public service for their selection to participate in Africa Initiative for Governance (AIG), Public Leaders Programme (PLP), organised in partnership with the Blavatnik School of Government, University of Oxford, following a rigorous and competitive process. Yemi-Esan gave the commendation in a statement in Abuja yesterday. The HoS described the emergence of the 50 public servants as a welcome development, while expressing optimism that their participation in the AIG Public Leaders Programme would be of immense benefit to the service as the officers would be exposed to best practices in contemporary public sector leadership from world-renowned scholars and outstanding practitioners. She also appreciated the Aigboje Aig-Imoukhuede Foundation for investing in

building the proficiencies of the officers, noting that the candidates will receive academic scholarships from the Foundation to enable them participate in the programme. “The public sector is a key driver of a nation’s economic development, and by offering this world class executive education programme to public servants, the Aigboje Aig-Imoukhuede Foundation has shown a commendable commitment to the development of the nation. I congratulate all programme participants and urge them to take advantage of this unique opportunity to gain new knowledge that will help them be more effective in their roles,” she said. The AIG Public Leaders Programme is a unique executive training programme designed to equip future public sector leaders with the skills and knowledge they need to run their organisations effectively. Among other skills, the officers will learn how to lead effectively in a complex operating environment, foster collaboration within and across agencies and spearhead innovation throughout government.

LET THERE BE LIGHT…

L-R: Executive Director, Commercial, Mr. Abu Ejoor; Managing Director/CEO, Mrs. Funke Osibodu and Chief State Head, Edo State, Mr. Abel Enechaziam all of BEDC Electricity Plc (BEDC) at the Media Parley held last Thursday at the Head Office in Benin, Edo State… recently

SGF Applauds Passage of Oil and Gas Industry Act Olawale Ajimotokan in Abuja The Secretary to the Government of the Federation, Boss Mustapha, has applauded the the reforms being undertaken by the federal government in the oil and gas industry. He said the initiative would placed the country on the trajectory of sustainable economic development. The SGF disclosed this yesterday when Secretary-General of the Organisation of the Petroleum Exporting Countries (OPEC), Muhammad Sanusi Barkindo, paid him a courtesy visit in his office. He said the Federal Government under the leadership of President Muhammadu Buhari

has achieved a milestone in the passage of the Petroleum Industry Act (PIA), describing it as a dream hitherto unfulfilled despite various unsuccessful attempts to enact the law in the sector. “We have shared this afternoon some of the great feats that Nigeria has achieved particularly dealing with the oil and gas industry. He commended the government for its ability to have the PIA signed into law. “The last time we had this exercise was in 1969- from 1969 to date nothing has happened dramatically in the oi and gas industry. The Act has brought to fore the liberalization of the oil and gas industry. I believe with

the time limit of one year from its implementation, we would be able to see the accruable benefits to the Nigerians”. Mustapha said. He said that despite the challenges posed by the outbreak of the Covid-19 pandemic, the federal government was able record modest achievements by constituting the Presidential Task Force on Covid-19, which metamorphosed into the Presidential Steering Committee on Covid-19 and thus provided the roadmap for the Economic Sustainability Plan. The SGF noted that the policy has helped Nigeria to exit recession in a record time with more than five per cent growth in the economy. He further asserted that

Nigeria would collaborate with OPEC so as to get the necessary support and guidance in the implementation of the Act for economic sustainability and growth. Speaking earlier, the SecretaryGeneral of the Organisation of the Petroleum Exporting Countries (OPC), Muhammad Sanusi Barkindo, congratulated Nigeria for exiting recession thus guaranteeing steady growth in economic development. He commended the efforts of the chairman of PSC on Covid-19 for providing purposeful leadership in the containment of the pandemic in the country through adopting appropriate strategies in line with international best practices.

Dangote Charges Journalists on Professionalism, Ethical Standard Kemi Olaitan in Ibadan President of the Dangote Group, Aliko Dangote, has charged media practitioners on professionalism and high ethical standard in the discharge of their duties as the watchdog of the society. He gave the charge in Abeokuta, during a three-day training sponsored by the Pan-African conglomerate, for journalists from across the South-West geo-political zone in the country. Dangote while speaking through the Senior General Manager, Branding and Communication, Dangote Industries Limited, Mr. Sunday Esan, said the role of journalists is very critical as both the governed and the government rely solely

on the media for information to better the society. According to him, media practitioners could not afford to be less professional and ethical to meet the yearnings of the society, pointing out that was the reason for sponsoring the training which aimed at fine tuning the journalists for modern day expectation in view of the evolution of the social media. Meanwhile, case has been made for the journalists of today to cultivate entrepreneurial spirit and skills in the use of new technology in order to remain relevant in the media and communication. The media practitioners were also told to always look at the business side of the practice while discharging their duties.

Speaking one after another during the training themed, “The Convergence Journalism” organized by Folio Media & Creative Academy, the resource persons, said though the ethics of the profession of journalism remain sacrosanct, the practitioners must not lose sight of the marketing side of their job. A Communication and Brand Management expert, Dr. Victor Ogwezzy, said marketing in the media is everybody’s business without which no media organization would survive, stating that media practitioners should be mindful of their own personal survival and that of the organizations in which they are working and take marketing seriously. He mentioned some newspa-

pers which bothered less about marketing side of the business, but which today are now off newsstand and thus throwing their workers into the unemployment market. Besides, Ogwezzy, who is the Chief Responsibility Officer of B2B Matrix Ltd., said journalists also have the responsibility to ensure contents in their newspapers, radio and television are good enough to attract quality readership and audience which will translate to income through advertisement. He explained that gone were the days were the business of marketing was left purely for the business development executives in the media organizations and that journalists equally has roles to play in marketing.

WEDNESDAY SEPTEMBER 1, 2021 • T H I S D AY

T H I S D AY ˾ WEDNESDAY SEPTEMBER 1, 2021

CITYSTRINGS

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

Fresh Approach to Tackling Poverty Remi Adebayo

resident Muhammadu Buhari, like most Nigerians, is excited by the rise in the Gross Domestic Product in the second quarter of last year which posted 5.01 per cent jump in the figures from the National Bureau of Statistics. While economic indices are for planners, the pangs of inflation, unemployment and poverty are seen and felt by the ordinary citizens. On the streets, joblessness coupled with rising food prices and rising cost of living, have redefined living standards, even among the middle class. The youths account for the nation’s main productive age grade and no serious nation should boast of enjoying a massive population of young, educated citizens without proportionally providing to meet their economic and social needs. Government must urgently think beyond the norm to check youth restiveness, minimise crime and criminality by finding tasks for the idle hands and giving hope to the seemingly despondent! The gaps created by the shortfalls in job creation and provision of funds to engender economic activities have motivated many young people to embrace fraud, kidnapping or outright banditry as means of survival. So, should the status quo be retained for further destruction of the values, economy and the safety of our people, or will there be any succour coming from anywhere to address this distressing trend and channel the strength of this important segment of the society for productive purposes? The Federal Government seems to have an answer in the National Social Investment Programme, NSIP, already described by many as an innovative policy designed to directly reach the seemingly forgotten and neglected segment of the society. The cardinal objective is to address their economic insufficiencies, revive their hope for productive living while adding value to the nation’s economy. Of particular interest is the recently re-jigged Government Enterprise Empowerment Programme tagged GEEP 2.0, designed for entrepreneurial investments and domiciled in the Ministry of Humanitarian Affairs, Disaster Management and Social Development. GEEP is not new to those who have benefitted from it. It has components that have become like an anthem in the mouths of Nigerians but then, many have asked that regardless of its laudable conception, it should be expanded and better reformed to give more financial powers and skills to its beneficiaries. This is exactly what the Ministry has accomplished. While launching the GEEP 2.0 at the International Conference Centre, Abuja, recently, the Minister, Hajiya Sadiya Umar Farouq disclosed that President Buhari has approved that the captive net be widened to provide higher loans to additional one million beneficiaries and that the direction of the project should better target small holder farmers in the current farming season. Does this feel like a drop in the ocean when the Buhari Administration has promised to pull 100 million citizens out of poverty before 2023? Indeed, there are other initiatives running concurrently to complement this; one being the Central Bank of Nigeria-funded Anchor Borrower Programme where over three million have been supported to add to the local food production and the COVID-19 support to households, farmers and to SMEs. The NSIP has four components, namely N-Power, Conditional Cash Transfer, Home Grown School Feeding Program and GEEP. “The focus is on the poor. If we don’t provide them inclusiveness we would have failed in our duty to take them

President Buhari

Sadiya Farouk

out of poverty,” Vice President, Prof Yemi Osinbajo said at the unveiling of GEEP 2.0. Represented by the Special Adviser to the President on Political Matters, Senator Babafemi Ojudu, the Vice President, under whose watch the initiative was birthed in 2016, further explained that “by reducing poverty, we are reducing diseases, we are banishing banditry, we would have succeeded in taking millions of our youths out of the reach of the recruiters for terrorism, we would have attacked ignorance, we would have reduced child mortality. We would unleash the creativity of our people as well as their enterprise which Nigerians are known for all over the world.” Hajia Umar Farouq disclosed that “the new strategies include an increase in the loan portfolio of TraderMoni and MarketMoni from N10,000 to N50,000, while the FarmerMoni is now N300,000 along with the provision of value chain and creation of digital marketplace (E-platform) for beneficiaries to sell their products.” Not a few policy makers have lauded the initiative of scaling up accessible loans to beneficiaries. It is indeed being the masterstroke in the deal with the people to negotiate new start-ups for beneficiaries who can leverage on these interventions to redirect their course, if well utilised. These amounts might appear meagre, but not really so. “For many of us who live in the cities we may not know what impact this programme is having on our people. Many are in the villages whose annual income are not up to N10,000, so reaching out to them and extending a hand of fellowship is a major contribution to reducing poverty in our country,” said the Vice President. Good enough, the era of N10,000 loan has gone with about 400 per

cent increment to the three GEEP components, all thanks to the approval granted by the President. The Secretary to the Government of the Federation, Boss Mustapha is not oblivious of the impact of micro-credit on the rural poor and more especially the energetic young people. “As of today Nigeria stands as a very youthful nation with 60 per cent of our population below the age of 35. Studies have shown that an average 90 per cent of MSMEs are youth owned and in dire need of interventions such as this for poverty alleviation and growth sustainability,” Mustapha observed in a message sent to the event. He said the consideration given by GEEP 2.0 to farmers, youth and women, leveraging on the three loan products – the popular MarketMoni, TraderMoni and FarmerMoni – to support small and medium-sized businesses, is one of the greatest ways to maximum desired effects in the shortest space of time. “I must applaud the GEEP 2.0 TraderMoni’s youth based focus giving special attention to empowering under-privileged and marginalized youth who lack access to education, orphans, disabled and abandoned out-of-school children. The GEEP 2.0 FarmerMoni which promotes agro-entrepreneurship by supporting farmers engaged in crop cultivation, livestock, poultry and fisheries. “The President Muhammadu Buhari-led administration remains committed to lifting 100 million Nigerians out of poverty by 2023 and we can only do this through collective efforts and ensuring we do not waste resources by duplicating programmes,” the SGF noted. Critics have taken on the government, challenging the feasibility of this audacious ambition by President Buhari, especially when juxtaposed with the current shortage of energy

By reducing poverty, we are reducing diseases, we are banishing banditry, we would have succeeded in taking millions of our youths out of the reach of the recruiters for terrorism, we would have attacked ignorance, we would have reduced child mortality. We would unleash the creativity of our people as well as their enterprise which Nigerians are known for all over the world

and insecurity in the land. But no one can fault the magnitude, coverage and impact of the administration’s social investment programme when compared with similar interventions in the past. “May I say that the GEEP 2.0 is well coordinated and has an implementation model that accommodates representation at the Federal, State and Local Government levels,” Hajia Umar Farouq had stated as if reading the minds of pessimists and genuinely concerned citizens about the implementation and ability to recover the loans. She went further to explain that “a digital integration and coordination platform along with a strong and centralized monitoring and evaluation system aimed at enhancing loans recovery” has been established to safeguard the implementation towards making it to deliver and impact as envisioned. The Minister said the NSIP and by extension, the GEEP currently remains the main driving force behind poverty reduction in Nigeria and appealed to other ministers and all the stakeholders, including local and international organizations, which have partnered with the ministry and have directly or indirectly contributed towards the successful implementation of the NSIP to keep faith with her ministry. National Coordinator of NSIP, Dr. Umar Bindir said his team has embraced evidence-based approach in fighting poverty after an extensive research on previous poverty-alleviation schemes in the country. He said the scourge of out-of-school children now estimated at 14 million is best tackled by reducing rural poverty and fighting drug abuse, especially among young people. The Managing Director, Access Bank, Mr. Herbert Wigwe, who was represented at the occasion, expressed the bank’s readiness to deliver on the GEEP scheme by reflecting it in its services. A critical link in delivering the benefits envisioned by government is the cooperation and diligence of officers saddled with the task of execution. For GEEP 2.0, field officers are sufficiently energized and motivated to ensure its success. The Abia State Focal Person of NSIP, Mr. Chinenye Nwaogu expressed satisfaction with the GEEP 2.0 innovation, now re-packaged to boost entrepreneurship by cushioning the financial challenges of micro and small businesses. “This is perhaps the first time that government support is designed to reach the real beneficiaries directly,” he said. That enthusiasm is not misplaced considering the safety valves employed by the ministry to uphold transparency and strict accountability in implementing the GEEP 2.0. The Community Orientation and Mobilization Officers, COMOs, who will administer the scheme across the country, are required under oath, to give an undertaking on probity and honesty. They have been trained by officers of the National Orientation Agency who will also supervise them as desk officers in all the 774 local government areas across the 36 states and the FCT. The desk officers will sensitize communities on the GEEP programme; register interested beneficiaries, collect and collate necessary data for the programme; provide necessary feedback to the programme coordinator, uphold the mandate of the programme and are expected to lead with honesty and fairness to all beneficiaries. The ministry is collaborating with state and local governments where state government officials will serve as focal persons while the COMOs will represent the GEEP Local Government desk office “in order to create a valuechain of supervision, institutionalization, coordination and facilitating the successful implementation of the programme.” -Adebayo wrote via proedgecomng@ gmail.com

T H I S D AY ˾ WEDNESDAY SEPTEMBER 1, 2021

CRIME&SECURITY

Lagos Police Charge Citizens on Security rAs RCCG LP 44 donates equipment to police

CRIME SITUATION REPORTS

COMPLIMENTARY SECURITIES: HOW EFFECTIVE IN FACE OF EMERGING SECURITY CHALLENGES AND WAY FORWARD (PART 1) Gbolahan Samuel Moronfolu

L-R: Ajibola Opeoluwa-Calebs; ACP in charge of Area C Command Lagos, Tijani Fatai; Ahmed Kontagora; Emovon and Assistant Pastor (Admin), Joseph Ekhator at the event Mary Nnah

he Lagos State Police Command has charged citizens to be security conscious and report any suspicious movements or actions capable of threatening the safety of Lagos people to enable it to arrest such situations. Commissioner of Police (CP), Hakeem Odumosu, who was represented by the Deputy Commissioner of Police (DCP) in charge of Operations, Ahmed Kontagora, stated this during the presentation of security equipment to 10 police formations by the Lagos Province 44 of the Redeemed Christian Church of God at the Area C Command Headquarters in Surulere, recently. Commending the RCCG for the gesture, he said the equipment, which comprised Crowd Control gadgets, Walkie-Talkie, Body Camera and other devices, would assist the police to effectively check crime and arrest security breaches in the state. “The donated items will be judiciously used for the purpose they were given. For the Police to sustain the security of life and property of Lagos people, we will require collaborations of this nature, especially in the area of intelligence gathering and provision of information to the police”, he said. Speaking further, the CP said: “When you see something, say something, so that the police can do something through provision of genuine intelligence and information by members of the public.” The Pastor in charge of Lagos Province 44, Amos Emovon, who spoke in company of the Assistant Pastor in charge of Province (CSR), Ajibola Opeoluwa-Calebs, explained that the General Overseer of the

church, Pastor Enoch Adeboye, instituted the CSR department several years ago to enable the mission to impact the communities where their churches are located. Police stations and formations that benefited from the donation are the State Police Command, Ikeja; Area C Command, Ojuelegba; Area D Police Command, Mushin; Rapid Response Squad (RRS) Command, Ikeja; and Iponri Police Station. Others are Aguda Police Station, Surulere Police Station, Bode Thomas Police Station, Itire Police Station and Ijesha Police Station. “We have watched the Lagos security situation very keenly and decided to intervene through the provision of the equipment with a view to making the Police work easier. “We are aware that the government alone cannot effectively take care of security of life and property, especially with rising insecurity across the country,” Emovon said. He explained that besides its intervention in the security sector, the church had embarked on other CSR activities in the area of health by donating life-saving equipment to the Lagos University Teaching Hospital. Emovon disclosed that the church’s CSR initiative also extended to the education sector, in which it provided educational materials and a free feeding programme for public schools in Lagos, among other interventions. Senior police officers, who received the items on behalf of their commands, commended the RCCG for the gesture and pleaded with the church to extend the initiative to other parts of the country within available resources to effectively fight insecurity.

"The donated items will be judiciously used for the purpose they were given. For the police to sustain the security of life and property of Lagos people, we will require collaborations of this nature, especially in the area of intelligence gathering and provision of information to the police"

There is no gainsaying that Nigeria and indeed the global world is confronted with hydra facet security challenges, affecting socio economic activities negatively. However, this divergent security challenges come in different forms depending on the peculiarity of each region. The writer of this article helps to enlighten the readers and dissect extensively on the contributions of various complementary security systems to tackle the issues of insecurity bedeviling our country and threatening the world peace, their weaknesses and way forward. Judging from different perceptions, the traditional realist scholars with a western notion of security believe that, “security is the absence of threats or challenges to social safety, comfort and stability”. And that insecurity is a product of threats or challenges arising from acts or omissions from the wickedness and lawlessness of man that leads to or generate fear that acquired core values will be attacked in the society; as such, some believed that security is better achieved from the use of force through suppression and control whether force is use as a defensive, deterrent, compellant or swaggering means in societal management. On the other hand, the idealists emerged without disputing insecurity as being the sacrilege to core values position but with a contrary view that, whichever way security is defined, it is better fostered through equal treatment of actors using negotiation, bargaining and consensus. The idealist expositors completely reject the use of force in the maintenance of security. It is generally upheld that “Violence in whatever form is a threat to security and promotes insecurity regardless of who perpetrates it.” In the same vein, the modernists endeavor to reconcile the intellectual positions of the idealist and realist expositors by balancing the two on a single pedestal, thus maintaining that it is a combination of the two enclaves in a constructive engagement fashion that remains the synergy of a healthy security complex of any human system, thereby fostering and maintaining security in every sphere of societal life. Marxists came up with a view that, “State and its institution as being made up of a coalition of exploiters who are the direct and indirect sources of the numerous fiery security threats in the society etc. The concept of security has divers’ perceptions of what constitutes security; this variation also influences the position of strategists on how to provide and maintain social security amidst varying notions. The viewpoint of a traditional realist Walter Lipman, western notion of security posited that “Security is about a state’s level of military capability sufficient enough to avert the dangers of having to sacrifice its core values in strategic wishes to avoid war if challenges and ability to maintain victory and preserve such values in conflict or warlike situations (Lipman 1943 cited in Arnold Wolfers 1952:484). The above explains that “a nation is secured, if it has acquired military might and is not in danger of having to sacrifice its core values. Since security of any sector of the international system anchors on the preservation of its core values which is only achieved through sufficiency of weapons and military capability and insecurity is described as a state whereby, pervading security problems that can have short, medium or long-term solutions are allowed to sacrifice the core values of a system, threatening the entity/s peace and social comfort. In view of the above concepts of security, it is paramount to note that security is everyone’s responsibility. However, for the purpose of accountability, certain agencies of government have been created and saddled with the responsibility of ensuring security of lives and properties. Some of which includes: 1. The Armed Forces, comprising (i). The Nigeria Army (ii) The Nigeria Air Force (iii) The Nigeria Navy. 2. The Nigeria Police and 3.Other Para-

Military services. These security agencies mentioned have their respective areas of responsibilities, professional skills and equipment and do not work in isolation, but complement and synergise with each other in their respective operations. Yet, complimentary contract/private security outfits were established due to the conventional public security sector inability to meet the many security needs of the society, as a result of two major identifiable factors namely: (i) Inadequate manpower/numerical strength which falls short of United Nations recommendation of Police to citizen ratio in a country as well as other logistic inadequacies. (ii) The public security already have more than enough responsibilities to handle (wider areas of responsibility), some of which include: criminal prosecution of cases, suppression of riotous assembly, maintenance of general public order, tackling political agitations, defence of territorial integrity of the Nation and lots more. This therefore brought about the advent of complimentary security outfits and other security systems to compliment security services and attend to securities of various corporate/ private institutions, such as churches, event centers, amusement parks, residential security and lots more, in an expanding society with multi social and economic growth. Some of the complimentary contract securities are as itemized: (1) Contract/Private Security Guards (2) Vigilantes/Neighborhood guards (3) Gateman (4) Security Dogs (5) CCTV cameras (6) Drones Security Technology etc. Below is a highlight of the roles, merits and demerit of some of the existing security systems, their impact in the scheme of things, and the way forward, thus: 1.CONTRACT SECURITY: Is the use of an outside contractual agency to provide a substantial measure of security for the contracting company. Connected with the conditions of a legal, written agreement; agreed in a contract. The contractual agency provides this service through security officers and investigators who are hired, trained, supervised and managed by the contracting company. TERMS OF CONTRACT: When a security firm is contracted, they are to provide and deploy security operatives to render such security services to clients after payments of required security fees to cover wages, training, overtime requirements, leave grants, payroll taxes, uniforms, benefits, etc. ENABLING ACT (PGC ACT) 1. Private guard companies to be licensed As from the commencement of this Act, no organisation shall perform the service of watching, guarding, patrolling or carrying of money for the purpose of providing protection against crime unless the organisation concerned: Is registered as a company under or pursuant to the Companies and Allied Matters Act; and [Cap. C20.] as applied for and has been granted a license by the Minister in accordance with the provisions of this Act. 2.Nature and effect of license to operate A license granted by the Minister under the provisions of section 3 shall be valid and operative for two years from the date of issue. Any such license shall specify the number of offices, branches or other places of business which the company is permitted to maintain. A license may be suspended or revoked by the Minister at any time if he is satisfied that the company holding the license is unsuitable to continue to hold such license. A license may be suspended or revoked by the Minister at any time where in his opinion the ownership or control of, or any controlling interest in the company to which the license relates has passed to any other company or organization which is generally unsuitable to be considered for the grant of such license. -Moronfolu is a seasoned security consultant with many years of security and policing experience. FELLOW, Fourth Estate Professional Society (FFPS), he has also partaken in peace keeping operations within and outside the country and has flair for general security education.

T H I S D AY ˾ WEDNESDAY SEPTEMBER 1, 2021

EDUCATION Revisiting Kundiri Legacies, Succour to Wukari Community Ayodeji Ake highlights the efforts of Prof. Abubakar Kundiri’s rapid transformation agenda, which has transformed young and ‘obscure’ Federal University, Wukari, Taraba into a globally recognised citadel, boosting business activities in the Wukari community

Some of the completed projects adorning the university

n addressing the problem of access to quality tertiary education, the Federal Ministry of Education decided to implement educational development policy across Nigeria. Subsequently, the establishment of federal tertiary institutions in every state where they did not exist. The Federal University Wukari was formerly the Wukari campus of the Taraba State Polytechnic, housing the school of administration and business studies until it was donated to the federal government for the take-off of the university initiative under ex-President Goodluck Jonathan’s administration. In 2011, Federal University, Wukari (FUWUKARI), was established. In 2016, President Muhammadu Buhari appointed Prof. Abubakar Kundiri as the university’s vice-chancellor. Since that time, Kundiri’s name has been written in gold for spurring academic and infrastructural development. The Federal University, Wukari Prof. Kundiri Met In 2016, when Kundiri assumed office as the vice-chancellor, the institution could not boast of accredited academic programmes. For the almost six years that followed its founding, the university could only boast two faculty buildings, ICT centre, library and central administrative building. Residents of Wukari and neighbouring communities were not keen on sending their youngsters to the university. “It was just like a glorified secondary school with many of its courses not accredited, so our young people were still going to other places in search of higher education,” a resident Yunus Akwana said. Kundiri told the story better. “When I took over the university, there were no real physical infrastructures that qualify it to be called a university. However, one infrastructure that stood tall was a good road network. The vice-chancellor that I succeeded actually invested mainly in the construction of roads but did not pay attention to building the real physical infrastructures that make up or characterise a university,” disclosed Kundiri. There are other problems. The university’s vice-chancellor further revealed there was no “form of accreditation, whether interim or full, for all the courses that were offered in the university; violation of due process and lack of observance of appointment,” including promotion rules and guidelines of universities. “Largely, when I assumed office, the Federal University, Wukari, had experienced stunted growth compared to the other federal universities established at the same time,” he pointed out. “I did not dwell much on the situation but sought to reverse the challenges that were responsible for the problem.” FUWAKURI’s Transformation Armed with a blueprint to change the university’s fortunes to a citadel of quality education for not only Taraba youths but

Professor Abubakar Kundiri for all Nigerians, Kundiri was not for a moment mistaken about what he needed to do. “I came to the university to ensure that it should strive to attain the objectives for which it was established. To do this, there must be strategic planning,” explained Kundiri. “This was why the first thing I did as vice-chancellor was developing a strategic plan to support a coordinated approach to attaining our goals. This plan helped us to identify our goals, assign responsibilities and the timeline for achieving them.” Today, FUWUKARI is among the best and finest tertiary institutions Nigeria can boast of, with increased and accredited academic programmes in serene and conducive lecturing theatres for applaudable academic performances of the students. The institution now boasts of faculties like Agriculture and Life Sciences, Humanities, Management and Social Sciences, and Pure and Applied Sciences. The Faculties of Education, Engineering and Technology, Law and College of Medical Sciences were established, and a School of Postgraduate Studies. The university currently has 25 academic departments offering 27 undergraduate degree programmes under Kundiri’s watch. “Infrastructure is key to the university attaining the objective of being first-rate in the country. For this reason, we have transformed the campus from a small entity featuring buildings inherited from Taraba State Polytechnic to a vast expanse of edifices housing the various faculties of the institution,” the VC stated. “There are also lecture theatres and classrooms of varying sizes. We have completed the new Library and Information Centre, ICT Centre; two computer-based testing facilities,

a convocation square and professorial offices. There are also new students’ hostels for males and females.” In addition, Kundiri’s administration constructed several kilometres of roads linking different parts of the university, set up water generation and supply systems, and install electricity supply facilities, including alternative power systems. “Accommodation has also been provided for all principal officers of the institution encompassing both academic and non-academic staff at all levels including professional, technical and junior staff,” he added. “Another key area is the development of human resources, which led to the training of academic staff to the doctoral levels as well as capacity development of all cadres’ academic staff. We have also been being doing well in forging partnerships with relevant agencies and institutions as a strategy to develop the university.” This has attracted a lot of support in terms of physical and material development. Furthermore, the institution has been engaging in community development and outreach activities, reducing tension in the community and preparing local students for entry into higher education. Recounting lessons learnt from his experience, Kundiri stated, “To always have an open and objective mindset and be committed. These have helped me throughout my personal and professional careers.” Kundiri highlighted the importance of human resources management, explaining how he could harness human resources to yield positive results. “It is necessary to note that in leading people and working to maximise their capacities, adequate attention must be paid to identifying strengths as well as supporting the transformation of weaknesses to strengths,” the university honcho mentioned. “There is also the challenge of those that may not, no matter how you try, share your approaches to making progress. In situations like this, you have to ensure that their approaches do not disrupt the objectives sought for the wider good.” He paid attention to addressing the challenges. One of the issues dealt with was ensuring that all staff “are properly placed” according to their capacities. “To do this, Kundiri and his team had to develop, “using the expertise of diverse professionals within Nigeria,” the necessary documents to serve as a guide to placement of staff, both academic and non-academic. Following that, the university management set about correctly placing all staff in their merited positions. This entailed that many had their levels reviewed upwards, while others had theirs reviewed downwards. “Coupled with this was the timely assessment,” explained Kundiri, “of all staff so that they were promoted as and when due. What all these did was to bring about

increased productivity, and when you have productive staff, it supports the growth of the institution.” University autonomy is meant to grow Nigeria’s universities, allowing the institutions to search and identify the best hand to provide leadership according to their requirements, said Kundiri. He added, “This is opposed to the old system whereby a number of considerations outside the university system were allowed to interfere with the processes. I would say that the principles of autonomy in the university system are still a work in progress. As such, each university, through its governing council, should continue to strive to bring about the best for their respective institutions.” With an increasing student population of over 7,000, the Federal University Wukari recently won the Joint Admissions and Matriculation Board’s (JAMB) National Tertiary Admissions’ Performance-Merit Award (NATAP-M Award) as the most improved institution in gender balance across the country. “I naturally felt good and proud for us all in the institution. It is not only recognition of our commitment to excellence but also the drive to enhance equitable access to higher education. Equity or gender balance is essential to the development objectives of Nigeria. Be it the Sustainable Development Goals (SDGs), or other global commitments to development, and gender balance is key,” the VC noted. “Our university is working to put this at the front burner because it will help in ensuring that every section of the citizenry has the opportunity to contribute to national development.” Bringing Glory to Wukari Kundiri’s impact has been felt within and beyond the walls of the institution. First, the increasing population has been a blessing for business owners in the host community, with many saying the university under his leadership brought glory to Wukari and environs. The Aku Uka of Wukari and Chairman, Taraba State Council of Traditional Rulers, Dr Shekarau Angyu Masa Ibi II, while presenting an award of excellence to Kundiri recently, commended him for transforming the university. “Today, we are all proud of what you have done at the federal university. You brought glory to Wukari Land because of how you transformed the university from a glorified secondary school to a worldstandard institution of higher learning,” said Ibi. “The university is fast becoming a force to be reckoned with in the northeast, placing the community on a global map. We are always proud of you and grateful for your contribution to the development of the university.” Also, the Vice-Chairman of Wukari local government, Tijani Sale, said: “Aside from our yams that attract people from all over the country, the Federal University Wukari has added glory to us. The university now comfortably competes with other institutions anywhere in the country.”

T H I S D AY ˾ WEDNESDAY SEPTEMBER 1, 2021

EDUCATION

AbdulRazaq’s Fresh Moves to Boost Education in Kwara Hammed Shittu ÓØ ÖÙÜÓØ

The relevance of education to the well-being, economic and political growth of society cannot be over-emphasised. No wonder the government at all levels work round the clock setting aside budgetary allocation to ensure quality education is provided. On this premise, Governor AbdulRahman AbdulRazaq has been fashioning out strategies to boost the quality of education in Kwara in primary, secondary, and tertiary institutions. As education remains one of the main thrusts of his administration, AbdulRazaq took a cursory look into the state of education upon assumption of office. He designed a policy framework that would change the face of education to match up with the world standard operations and to comply with the United Nations Educational Scientific and Cultural Organisation (UNESCO). Some of the problems he met

in the education sector when he assumed office in 2019 included insufficient funding, irregular promotion of teachers, inadequate infrastructure, shortage of instructional materials, absence of operational vehicles, unequal distributions of teaching staff, and unfavourable learning conditions others. The government, therefore, embarked on the rehabilitation of dilapidated public school buildings. At least over 600 public schools are now undergoing renovation to provide a conducive learning environment. Apart from this, the administration provided exercise books and other working tools for the students aside from the prompt payment of teachers’ salaries. Also, the governor recently convened an education summit to garner more ideas towards moving education forward in the state. The summit, held at the Banquet Hall of the Government House, Ilorin, was organised to

fashion out a new education policy that would address the challenges associated with the educational development of the state. The move would also assist the government in defining an agenda and programme of interventions to make quality education available and accessible for all. Speaking at the summit, AbdulRazaq said his administration had moved basic education from the near-collapse state in 2019 with investments in infrastructure, recruitment of good teachers, and reinvigoration of the monitoring system in the schools. “Two years down the road, my team and I are proud to report that the situation has changed. We have restored our relationship with key partners after years of a blacklist. “We have reshaped public perception about teaching by engaging the best minds into the system,” said the governor. He added that his goal is to

make public schools the first choice for all. “As a show of our commitment to education, we have recently surpassed the UNESCO budgetary threshold of 26 per cent. Even so, it is clear that the government cannot do this alone,” noted the Kwara governor. “Huge gaps still exist. For instance, our recent school census across four local government areas shows that 41 per cent of our teachers are absent at their duty posts.” He added, “No single teacher was seen in 54 of the 368 schools sampled, while 23 per cent of students on head teachers’ record were not in school during the census. Only 15 per cent of the schools sampled were rated as needing no repair, implying that 85 per cent of our classrooms require various forms of rehabilitation.” He further explained that “the picture is bleaker when you consider” availability or adoption of technology in schools. The governor admitted that the gender parity index

for the ratio of girls to boys in “our school is another source of worry.” While calling for stakeholders’ support, he noted the state is already building a legal framework to support its efforts. “We now have a bill for a law to establish Kwara State Education Trust Fund. When passed, this fund will supplement the sector’s finance, promote technologies and leapfrog the sector’s development through our Kwara Education Transformation Agenda (KWETA) plan,” the governor disclosed. In his remarks, World Bank Senior Education Specialist, Dr Tunde Adekola, commended the government for the initiative and for allocating more than 25 per cent of its budget to education. He said the state must invest in technology, train and re-train teachers, create a regime of incentives for good performance, and involve communities in its drive to transform education. “Kwara state has the highest number of basic schools in the whole of north-central. Kwara has the least number of out of school children in the north-central zone of Nigeria,” explained Adekola. “Kwara state is one of those states that is coming up from behind in accessing all the fundings in UBEC and is now investing

in infrastructure and learning materials. All these things do not come by accident.” Adekola further pointed out: “That is what is called leadership. That is what we need at all levels in the state. That is why the governor brought all of us here to share knowledge and information, to see how we can make things better.” The Special Adviser to the President on Social Investments, Mariam Uwais, called for collaborative efforts among traditional rulers, civil society organisations, governments, and religious scholars to address out-of-school children’s issues through facilities in agriculture, sports, and creative sectors. On his part, the Senior Special Assistant to the President on Education Intervention, Fela Bank-Olemoh, called on the state government to improve investment in human capital development and create a model that supports and allows the private sector to solve problems in education. He also harped on technical education and the digital economy, saying, “Kwara must re-work its primary and secondary education system to make it impossible for any student to come out of our schools without acquiring basic technical, vocational education and training (TVET) skills.”

Provost Advocates Degree-awarding Status for Colleges of Education Funmi Ogundare

L-R: Governor AbdulRahman AbdulRazaq; Deputy Speaker, Kwara State House of Assembly, Hon. Raphael Adetiba; Head of Service, Susan Modupe Oluwole; Commissioner for Education and Human Capital Development, Hajia Saadatu Modibbo Kawu; and Commissioner for Tertiary Education, Ibrahim Sulyman, during the Kwara Education Futures Summit, in Ilorin... recently

Webometric Ranking: Stakeholders Commend Sanwo-Olu as LASPOTECH Emerges Third Best Poly Stakeholders in the education sector have commended Governor Babajide Sanwo-Olu for his administration’s commitment to delivering quality education across the state as Lagos State Polytechnic emerged as the third-best polytechnic. The 2021 Webometric latest ranking for polytechnics and colleges of technologies in Nigeria announced the polytechnic’s position in a recently released ranking by Cybermetrics Lab. Cybermetrics Lab is a research group belonging to the Consejo Superior de Investigaciones Cientificas (CSIC), Spain’s largest public research body. Yaba College of Technology emerged as the best polytechnic in Nigeria, and the Federal Polytechnic, Ilaro and Lagos State Polytechnic, Ikorodu were rated second and third among the 50

ranked institutions in the country. The organisation’s management stated four ranking criteria were used, including openness, impact, presence and excellence rank. The Special Adviser to the Governor on Education, Tokunbo Wahab, expressed excitement that LASPOTECH is bouncing back to its rightful place, adding that the state government’s general reform of the education sector is beginning to yield a positive result. Wahab recalled that the Lagos State University (LASU) was last year rated as the second-best university in Nigeria and one of the best 100 universities in the world. “The governor had given a marching order to ensure that LASU is repositioned to become the university of the first choice in Africa in

terms of quality researches and academic excellence,” stated Wahab. “My office would do its best to ensure that the vision is realised in record time.” Wahab, who hinted at plans by the state to establish two new universities, said LASU alone could not meet the demand for university admission in Lagos, with an estimated population of over 22 million people. The Oba of Igbogbo Kingdom, Oba Semiudeen Orimadegun Kasali, also commended the government’s efforts in transforming education to make it rank among the best in the world. The monarch commended Sanwo-Olu for prioritising youth development and empowerment in his administration’s T.H.E.M.E.S development agenda. He added that the proposed upgrade of the Lagos State

Polytechnic, Ikorodu to a university of science and technology and converting two colleges of education to a university of education were a testament to Sanwo-Olu’s commitment to quality education, research development and technological innovations. He assured the governor of supporting the state’s traditional institutions on the proposed institutions while commending the House of Assembly’s leadership to support the executives’ reforms agenda with quality legislation. The Permanent Secretary, Office of the Special Adviser on Education, Adeniran Kasali, said the emergence of LASPOTECH as the third-best polytechnic in the country was in line with the Sanwo-Olu administration’s third pillar of the state’s development agenda, which is education and technology.

The Provost, Federal College of Education (Technical), Akoka, Lagos, Dr Ademola Azeez, has called on the federal government to allow education colleges to award NCE and degrees. Azeez made the appeal recently at the college’s 2020/2021 matriculation ceremony, where a total of 727 candidates were admitted into its various programmes. He said colleges of education should be allowed to run degree programmes to the PhD level. “For instance, for those who want to do teacher education, they could do a three-year programme and bag NCE certificate, and for their degree programmes, they will spend two years,” explained Azeez. “As a college of education, we are not given the autonomy to award degree, but it is already being tackled by the amendment act that established colleges of education. In the act, we have proposed that we should be allowed to run dual-mode, which means we will run both NCE and degree programmes. We have what it takes as a college.” The provost added that “we have presented our case” to the federal ministry of education. “It is a disservice to the nation to allow colleges of education of our type established in 1967 to be affiliated to the University of Benin and nothing else,” he argued. “We have enough PhD holders here just like in the university. We also have the best facilities here. We discovered that most private

universities that the federal government registered do not have such facilities that we have.” Azeez also decried the institution’s low student enrollment rate, saying that many admission seekers will consider universities before colleges of education. “It is when they are unable to secure such that they now think of coming into colleges of education. It has been an annual problem being faced by most colleges of education in Nigeria,” added th college provost. “The admission now is getting very competitive, and many institutions; federal and private, are springing up.” He said many education colleges in Nigeria wee sourcing students from the same society, adding that his college is not a conventional one where courses like English, Yoruba, Islamic and Religious Studies are run. “The same requirement needed in the universities to run science, technology and engineering is also used for colleges of education. That is what is affecting the intake,” Azeez pointed out. He admonished the students to exhibit discipline, loyalty, honesty and good character at all times during their stay in the college. “It is therefore advised that you combine both academic and moral excellence throughout your stay as a student in the college,” said the provost. “You should refrain from acts contrary to rules and regulations of the college in order not to jeopardise the realisation of your life ambitions.”

T H I S D AY ˾ WEDNESDAY SEPTEMBER 1, 2021

EDUCATION

FCET Umunze Makes ICT Skills Compulsory for Students Uchechukwu Nnaike

The Provost, Federal College of Education (Technical) Umunze, Dr Tessy Okoli, has announced a compulsory ICT training programme for all students to gain a competitive edge upon graduation. She said the students needed to be equipped and become ICT compliant to become relevant in a world driven by ICT innovations. The provost stated this at the recent 32nd/10th joint matriculation ceremony for students of Nigeria Certificate in Education (NCE), degree and Professional Diploma in Education (PDE) programmes, held at the main campus in Anambra. The matriculation was also attended by the institution’s governing council members, led by its chairman, Sekav Iyortyom, among others. Okoli explained the college would continue to emphasise entrepreneurship,

ICT, technical and vocational skills that will equip students with employable skills upon graduation. “Our college has made the acquisition of ICT skills compulsory for all students. With two gigantic ICT buildings constructed by TETFund, hundreds of computers have been provided for effective teaching and learning,” she disclosed. “The Teachers’ Registration Council of Nigeria (TRCN), at its recent induction of over 900 graduates in our college, rated this institution high in ICT compliance.” According to her, the college introduced an ICT academy to train students on various computer applications and programmes, just as she announced an ongoing effort to introduce digital classrooms in the institution for improved teaching and learning. The provost advised the

students to leverage the high academic rating of the college and strive towards excellence. She urged them to desist from cultism, examination malpractice and other indecent acts. “We do not condone harassment or exploitation of students. We will continue to protect our reputation as an institution of choice, a fertile ground for academic honesty and a school for future champions,” she said. The provost added that the college made 75 per cent class attendance compulsory and encouraged new and old students to form study groups. She also encouraged the new students to live in college hostels rather than private lodges, saying that hostels guarantee closer supervision and security for them, who might be leaving their homes for the first time. From the affiliate institution, the Vice-

Chancellor of the Nnamdi Azikiwe University, Awka, Prof. Charles Esimone, congratulated the new students, saying that the ceremony marked their formal admittance into the academic programme of the university, domiciled in FCE(T) Umunze. He stated that those admitted under the affiliation status enjoy the privilege of studying for a university degree in programmes domiciled at the FCE (Technical) Umunze, but whose curricula and other requirements meet the university’s academic standards. Esimone, represented by the Deputy Vice-Chancellor (Academics), Prof. Frederick Odibo, assured the students that most of the programmes of the university, including those into which they have been admitted, were accredited by the National Universities Commission (NUC).

The Chairman, Governing Council, Federal College of Education (Technical) Umunze, Hon. Sekav Iyortyom and the Provost, Dr. Tessy Okoli, during the matriculation ceremony of the college... recently

FCT UBEB, Lagos SUBEB meet to Boost Education Funmi Ogundare For four days, the acting Chairman of the FCT Universal Basic Education Board, Dr Sule Al-Hassan, recently led other top functionaries of the board on a knowledge/experience sharing and peer review visit to Lagos State Universal Basic Education Board (LSUBEB). It was also designed for the boards to compare notes and exchange ideas to achieve

greater outcomes in providing national basic education services. In his remarks, the LSUBEB chairman Wahab Alawiye-King said the state “has the capacity in terms of building human and material resources.” A LSUBEB member Sherifat Adedoyin noted that the board was focused on the psychomotor of children and ensure that children are developed mentally. “We develop our pupils

mentally. Children love to play, and we ensure that the environment is conducive for them to play. In Lagos state, we leave no child behind, and we see to their affairs from time to time. We also monitor the environment in which they learn,” Adedoyin stated. A permanent board member, Bayo Adefuye, disclosed that the board could monitor everything about the teachers, even the computer tablets, to make their

work easier. As part of the activities, Alawiye-King, other board members and the delegates of UBEB visited some state and federal government intervention projects. During the tour, the UBEB team commended the LSUBEB with Al-Hassan, saying his administration will ensure that every child gets a quality education and builds teachers’ capacity.

TFN Inducts 269 Fellows to Teach in Underserved Schools Oluchi Chibuzor Teach For Nigeria (TFN), a non-profit organisation, has inducted 269 fellows/teacherleaders as the fifth cohort of its fellowship programme at the 2021 Pre-service Summer Training Institute. The Teach For Nigeria Fellowship is a leadership development programme

that equips fellows with transferable leadership skills to effect change in classrooms. Speaking at the closing ceremony of the in-person training, the CEO of TFN, Folawe Omikunle, disclosed that the organisation recruits Nigeria’s most promising graduates every year, engaging them in an intensive pre-service training

institute and placed them in underserved schools. According to her, a faculty of seasoned educators and experts had trained the fellows. On her part, co-founder and board member of TFN, Alero Ayida-Otobo, compared their two-year fellowship with the analogy of a butterfly, expecting them to positively

transform the children in their communities. In his keynote address, TFN ambassador Bankole Wellington advised the fellows to invest in themselves and be intentional about being a part of the success stories of all the children they would be working with over the next two years of their fellowship.

Teacher’s DIARY KEHINDE OMORU

www.kayomoru.com

JUST DO IT

eachers and lots of people jostle through their day in activity-packed muddles and end them with excruciating headaches, no achievements or under-achievement.Conversely many people‘sit-out’ their days sedentarily and end them with throbbing headaches that arise from disorganisation, poor-circulation and regret-laced mental convolution. So what then makes a day rewardingly lived? To my mind, in my 50 odd years of living, the answer is this across the board is what I’d like to call, PRIORITISED-PURPOSE. Purpose’ for the purpose of this writing refers to the: intentions; chores; requirements; tasks; enterprise; jobs; duties; responsibilities; assignments; study, trainings, qualifications, commitments or obligations, that you and I need to complete in a day, or within a space of time. Note that I have used the word‘need’ as lots of people: acquire, earn and wade about with tasks and obligations they say, and are convinced, that they are obligated to complete. The following five tips gathered along life’s journey and by comparing ‘notes’ with family, friends and colleagues will help you sort out your day in the most rewarding ways: Limit your impulsiveness and spontaneity to absolute minimum levels. Banish chaotic thoughts and reactions. Rather, get into the habit of listing out your intended tasks, duties, plans, targets and obligations. Next organise each into essential and desirable tasks. Take a critical look at your list and triage the tasks in both groups in an order of priorities. Break each task into a simple timeline that has taken cognisance of the realistic time to its completion. Other variables to then factor in, include resources such as: people, skills, money, implements, tools and fuel necessary to complete the job. r"QQSBJTF ZPVS FOFSHZ BOE LFFOOFTT MFWFMT :PV NJHIU OFFE to critic the need to embark on a task at all, or to finish it within the timespan you’ve allocated to it. Let wisdom reign. If it’s to earn a living, further a course or save lives, then you know the task needs to be done! Some things may need to be delayed until clarity in their need is achieved. So your honest appraisal allows you pace out yourself so as not to wear yourself out on the one hand, or invite failure on the other. r 8JMM ZPVSTFMG UP TUBSU +645 %0 *5 $PNNJU UP UIF UBTL and get on with the job. Be a person of integrity; a man or woman of your words. A famous cultural maxim entreats us to, “suffer now and enjoy later”. There is often good rewards for those who wait behind after working hours to toil or work unsocial hours to meet a deadline. To add more value to their work or study, you must commit and be consistently committed to your purpose. Consistency is an invaluable ingredient for your target’s pot of soup! r&WPMWF B XBZ UP BTTFTT IPX ZPV BSF EPJOH PO ZPVS XPSL This could be by way of self-assessment or inviting others to evaluate your work. People’s varied evaluations are good in the way that, if honest and constructive, they can be invaluable for your progress. Accept that some people would be negative or give damning criticisms of your efforts. Learn how to guard your heart and maintain your momentum of progress towards your purpose. Tracking your progress this way enables you to judge how far you have moved towards your target. r(P UP ZPVS TUVEZ PS UBTL UJNFMJOF BOE EFUFSNJOF UIF QPJOUT you would be celebrating each progress. As you reach each point, celebrate the milestone you’ve achieved. Celebrations could range from buying yourself a drink, hanging out with a friend or two to allowing yourself a treat. However, keep level-headed to sustain your commitment to purpose. Celebrations over, recharge or regroup and will yourself to SFTUBSU UIF UBTL +645 %0 *5 Omoru is a freelance writer, education, health and social care advocate

Will yourself to start. JUST DO IT! Commit to the task and get on with the job. Be a person of integrity; a man or woman of your words. A famous cultural maxim entreats us to,“suffer now and enjoy later”. There is often good rewards for those who wait behind after working hours to toil or work unsocial hours to meet a deadline

WEDNESDAY, ͹˜ ͺ͸ͺ͹ ˾ T H I S D AY

T H I S D AY ˾ ˜ SEPTEMBER 1, 2021

BUSINESS/MONEYGUIDE

United Capital Quotes N19.72bn Series CPs on FMDQ Exchange Darasimi Adebisi FMDQ Exchange has approved the quotation of the United Capital Plc N19.72billion Series 5, 6 & 7 Commercial Papers (CP) on its platform. The Exchange approved the quotation of the United Capital N1.56 billion Series 5, N13.99 billion Series 6 and N4.17 billion Series 7 CPs under its N50 billion CP Issuance Programme on the Exchange. As corporate institutions continue to tap the CP market

to meet their short-term funding needs and liquidity requirements, FMDQ Securities Exchange has remained relentless in taking the necessary steps towards promoting transparency, governance, integrity and efficiency in the Nigerian CP market and overall debt capital market (DCM). The statement FMDQ stated proceeds from the quotation of these CPs, which are cosponsored by FSDH Capital Limited and UCML Capital Plc – Registration Member (Quotations) of FMDQ Exchange,

will enable the United Capital to provide a wider range of wholesale financing solutions to its clients as well as complement its funding base and support the growth of the overall business. According to the statement: “In keeping with its commitment to develop the DCM, FMDQ Exchange shall sustain its efforts in supporting issuers with tailored financing options to enable them achieve their strategic objectives, deepen and effectively position the Nigerian DCM for growth.”

AirSmat Launches Technology to Boost Farmers’Productivity Dike Onwuamaeze AirSmat has launched product and services that would ensure food security in Nigeria and the African continent by helping farmers and farm owners to have access to useful intelligence that would help them to take proactive steps in solving problems on their farms before harvest season. This bid by the AirSmat to boost the productivity and profitability of Nigerian farmers by enhancing precision agriculture through the use of technology and artificial intelligence recorded another progress with the inclusion of the HighHill Group among its customers’ base. The Chief Commercial Officer, AirSmat, Mr. Olasunkanmi Alabi, expressed delight that the company has successfully added HighHill Group to the list of customers benefiting from the services being offered to farmers across Nigeria. Alabi said: “The AirSmat is focused on helping businesses

harness power of drone, satellite and soil level data. Our approach in capturing data, ingesting data to our platform and processing same in an intelligent way and its ability to digest large amounts of data and draw precise conclusions will help farmers gain insight into their day-to-day farm operations. “With this, we are sure of maximum yield for farmers, increased profitability, and cascaded effect of food security for Nigerians and everyone on the continent. AirSmat empowers farmers to perform better, act faster, and make smarter decisions. “Starting with, SmatSTAR service, we are glad to have this partnership that will see us work with the Group throughout the planting season for the cultivation of hot pepper (Habernaro), which has a huge demand in the local and international market.” “With SmatSTAR service, we help our customers to get detailed test and analysis of the soil in addition to recommendations that help farmers know with

precision the fertilizer type for specific crops. We will deploy our artificial intelligence application capabilities to help HighHill Farms achieve guaranteed bountiful yields.” Also speaking on the partnership, the Chairman, HighHill Group, and Founder of Gogreenafrica Initiative, Ambassador Sola Bunmi Adeniyi, lauded the technological initiative of the AirSmat to assist farmers achieve desired guaranteed bountiful yields. Adeniyi said: “Our partnership with the AirSmat is to have a seamless knowledge of the farm features and activities which may not be visible to the eyes but with their artificial intelligence software, we will be able to identify the soil components and more details that will guide us on the crops to plant and where to apply fertilizers. This will help us to eliminate guess work thereby increasing our yields to enjoy good Return on investment (ROI).”

VFD Group Unveils Process for 2021 Graduate Trainee Program The VFD Group, a proprietary investment company, has started to receive applications from interested candidates that desired to participate in its 2021 Graduate Trainee Program (GTP). The programme, which is in its 4th edition, would equip fresh graduates with requisite training, development, and emotional intelligence that would enable them to function in their chosen professional careers. The application for the programme opened on Friday, August 27, 2021, and would end on Friday, September 3, 2021, and

interested candidates are enjoined to apply for the training through the VFD’s website. The Group Head, Human Resources, VFD Group, Damola Andah, explained that the group’s objective is to use the programme to build and sustain skill development that would contribute significantly to the nation’s economy in terms of output and employment. Andah said: “Building positive and socially conscious ecosystems that provide innovative solutions to everyday citizen and entrepreneurs are at the core of what we do at VFD Group, which we

have achieved through the collaborative efforts of a dedicated, hardworking, and talented pool of individuals. “We believe in the power of having a great team, and we would ensure they grow, remain fulfilled, and achieve their growth potential with us.” At the end of the training program, young graduates with curious and innovative minds would be selected to work alongside the brightest minds in the industry on projects that are changing the world and thus help them become future leaders.

Insight’s Parent Company Overtakes WPP in Market Capitalisation Mary Nnah Publicis Groupe, one of oldest and largest marketing and communications companies in the world by revenue, and parent company to West Africa’s largest marketing communications group, Insight Redefini, has now overtaken WPP, in market capitalisation, for the first time. Commenting on Publicis Groupe’s big win to advertising publication, Brand Equity, advertising legend, Martin Sorrell, said, “Over the last four years,

WPP’s market value has fallen by about 4 billion pounds. The market has spoken. They are often described as being the largest advertising services company. I don’t think that is the case. I think Publicis has actually managed to beat WPP from a market capitalisation point of view, certainly, for the first time, few days ago.” Publicise Group owns a 25 per cent stake in Insight Redefini, West Africa’s largest integrated marketing network. The partnership has strengthened

the value provided to clients, ensuring deployment of global best practice, in creatives and advisory, for brands. The group’s recent win of global accounts, Burger King and Wahed, in Nigeria, in addition to its already vast portfolio of brands, are testament of the benefits of the strategic partnership. We expect to see this translated further in Insight Redefini, strengthening the group’s stake in the Nigerian integrated marketing communications industry and expanding across the region.

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT TUESDAY,31 AUGUST 2021

The price of OPEC basket of thirteen crudes stood at $71.88 a barrel on Monday, compared with $71.48 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zaﬁro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

T H I S D AY ˾ ˜ ͯ˜ ͰͮͰͯ

Oando Reiterates Commitment Towards Creating Value for Shareholders Darasimi Adebisi The Group Chief Executive, Oando Plc, Mr. Adewale Tinubu yesterday reiterated that company’s commitment towards creating value for shareholders and protecting their interest going forward. Speaking to shareholders at the company’s virtual 42th Annual General Meeting (AGM) in Lagos, he noted that teamwork; respect, integrity, passion and profes-

sionalism are core values the management of the indigenous oil company take seriously. The company’s first-ever hybrid AGM comes in the wake of an out-of-court settlement with the Securities and Exchange Commission (SEC) who hitherto, suspended the company’s AGM in 2019. He appreciated shareholders; among others that played an active role in enabling the company reached a decisive

P R I C E S MAIN BOARD

F O R DEALS

resolution with the SEC. He, however, said: “Our ethos as a corporation has been driven by these values, and the company has evolved and succeeded year after year. The ultimate test of our capacity to be sustainable is having challenges. We’re ready to face them and deal with them when they come; ready to ensure that we apply these same principles and maxims in dispute resolution. In line with COVID-19 restric-

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

tions on large gatherings, proxies represented shareholders’ from their various associations at the meeting. The shareholders groups representatives, which included: Patrick Ajudua, Kabiru Tambari and Boniface Okezie, were united in their support for the company and applauded the management team for resolving its dispute with the regulator, thereby enabling them gain oversight into the company’s activities.

T R A D E D MAIN BOARD

A S

The shareholders further encouraged management to keep up the good work and focus on creating value for shareholders. Speaking, Ajudua said: “I thank the management of Oando for remaining resilient during the trying period. They worked tirelessly to see us through these issues. It is in light of this that we, the shareholders, are delighted and supportive of the management.” Elated to be at the AGM, another shareholder, Tambari

O F

said: “Today is a historical day for us shareholders. I thank the management and board of the company and I congratulate my fellow shareholders for this achievement. This is the only way we can benefit from the company through capital appreciation because, without AGM, there will be no talks of dividends. One topic that resonated with all shareholders at the meeting was the need for dividends in the near future.

3 1 / 0 8 / 2 0 2 1 DEALS

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WEDNESDAY SEPTEMBER 1, 2021• T H I S DAY

MARKET NEWS A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return. An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 30Aug-2021, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS

MUTUAL FUNDS / UNIT TRUSTS

AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 155.59 156.94 -3.88% Afrinvest Plutus Fund 100.00 100.00 5.01% Nigeria International Debt Fund 323.70 323.70 15.94% Afrinvest Dollar Fund 110.59 110.59 -1.33% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund N/A N/A N/A ACAP Income Funds N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 5.69% AIICO Balanced Fund 3.30 3.47 -2.78% info@anchoriaam.com ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 7.75% Anchoria Equity Fund 139.24 140.92 4.68% Anchoria Fixed Income Fund 1.14 1.14 -13.92% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 19.57 20.16 7.91% ARM Discovery Balanced Fund 431.62 444.63 7.81% ARM Ethical Fund 38.11 39.26 13.04% ARM Eurobond Fund ($) 1.09 1.10 -0.79% ARM Fixed Income Fund 0.97 0.98 -7.19% ARM Money Market Fund 1.00 1.00 8.21% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 105.95 105.95 4.17% AVA GAM Fixed Income Naira Fund 1,030.12 1,030.12 3.01% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund N/A N/A N/A Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.01 1.01 2.72% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 8.03% Paramount Equity Fund 16.47 16.78 3.00% Women's Investment Fund 136.25 137.82 2.38% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 8.02% Cordros Milestone Fund 2023 118.42 119.18 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 108.04 108.04 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 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 FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,408.49 1,408.49 11.22% FBN Balanced Fund 192.45 193.79 2.54% FBN Halal Fund 112.18 112.18 8.37% FBN Money Market Fund 100.00 100.00 9.86% FBN Nigeria Eurobond (USD) Fund - Retail FBN Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund FSDH ASSET MANAGEMENT LTD Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Coral Balanced Fund Coral Income Fund Coral Money Market Fund

126.95 158.34

126.95 3.54% 160.56 4.74% fcmbamhelpdesk@fcmb.com

Bid Price 1.00 3.97 1.59 1.19

Offer Price Yield / T-Rtn 1.00 5.79% 3.97 2.51% 1.62 4.41% 1.19 4.38% coralfunds@fsdhgroup.com

Bid Price N/A N/A N/A

Offer Price N/A N/A N/A

Yield / T-Rtn N/A N/A N/A

GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund N/A N/A N/A Nigeria Entertainment Fund N/A N/A N/A GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 7.80% Vantage Balanced Fund 2.69 2.75 -5.88% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 152.71 152.98 -1.80% Vantage Equity Income Fund (VEIF) - June Year End 1.28 1.32 1.68% Vantage Dollar Fund (VDF) - June Year End 1.10 1.10 0.96% 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 1.42 1.44 4.17% Lotus Halal Fixed Income Fund 1,147.53 1,147.53 5.67% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 11.68 11.71 9.48% Meristem Money Market Fund 10.00 10.00 9.30% 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 1.67 1.69 7.14% PACAM Fixed Income Fund 11.56 11.55 -4.98% PACAM Money Market Fund 10.00 10.00 6.10% PACAM Equity Fund 1.64 1.65 3.74% PACAM EuroBond Fund 112.97 114.86 2.86% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 131.60 134.17 8.84% 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 1.05 1.05 10.02% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,294.68 3,329.52 2.58% Stanbic IBTC Bond Fund 232.57 232.57 3.43% Stanbic IBTC Ethical Fund 1.22 1.24 4.24% Stanbic IBTC Guaranteed Investment Fund 306.51 306.51 4.02% Stanbic IBTC Iman Fund 226.50 229.85 3.78% Stanbic IBTC Money Market Fund 100.00 100.00 7.65% Stanbic IBTC Nigerian Equity Fund 10,454.21 10,601.72 -0.39% Stanbic IBTC Dollar Fund (USD) 1.27 1.27 3.62% Stanbic IBTC Shariah Fixed Income Fund 115.44 115.44 3.93% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 103.36 103.36 UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.31 1.33 2.52% United Capital Bond Fund 1.91 1.91 4.41% United Capital Equity Fund 0.87 0.89 9.75% United Capital Money Market Fund 1.00 1.00 8.93% United Capital Eurobond Fund 120.01 120.01 4.85% United Capital Wealth for Women Fund 1.06 1.08 3.99% United capital Sukuk Fund 1.06 1.06 6.09% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 12.87 12.98 8.44% Zenith Ethical Fund 14.28 14.42 16.95% Zenith Income Fund 24.32 24.32 1.41% Zenith Money Market Fund 1.00 1.00 4.97%

REITS NAV Per Share

Yield / T-Rtn

125.54 51.92

11.09% 2.90%

Bid Price

Offer Price

Yield / T-Rtn

13.30

13.40

0.61%

121.62 96.74 17.38 18.30

124.65 98.85 17.48 18.40

1.15% -2.50%

Fund Name SFS REIT Union Homes REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund

SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund MERGROWTH ETF MERVALUE ETF

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.90 5.59 17.42 1.00 19.39 157.57

3.94 5.67 17.52 1.00 19.59 159.57

3.41% -1.73% 7.35% 6.13% -5.50% -28.34%

NAV Per Share

Yield / T-Rtn

107.40

13.11%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

WEDNESDAY SEPTEMBER 1, 2021 ˾ T H I S D AY

NEWS

Insecurity: US in Talks with Nigeria to Contain Terror Funding Voted $2.2bn for security, humanitarian aid since 2015 Kingsley Nwezeh in Abuja The United States government said it had commenced bi-lateral talks with Nigeria in a renewed bid to identify and contain sponsors of terrorism in Nigeria. The move was also designed to disrupt illicit financial flows channelled towards funding terror networks. That was as US Defence officials attended an induction ceremony for the Super Tucano fighter jets, hosted by the Minister of Defence, Maj. Gen. Bashir Magashi, and the Nigerian Air Force. But newsmen detailed to cover the induction ceremony for the six newly acquired A-29 Super Tucano aircraft into the Nigerian Air Force (NAF) Order of Battle, were barred from gaining access to the Presidential Air Fleet Apron of the Nnamdi Azikiwe International Airport, Abuja. Armed security operatives, who were stationed at the venue of the ceremony and other strategic locations at the airport, told newsmen that the event was postponed. On the contrary, an official of the United States Embassy insisted that the induction

was neither cancelled nor postponed, as claimed by the security agents. He said the ceremony was rather low-key. The bi-lateral engagement came at a time the US

government had ramped up military ties with Nigeria in the area of provision of military hardware, including the A-29 Super Tucano fighter jets, intelligence support, and

technical assistance, bordering on maintenance of the aircraft and training of pilots. The US government said it had also spent over $2.2 billion in security and humanitarian

assistance in the North-east since 2015. Speaking at a joint media briefing in Abuja on Monday, the United States envoy to Nigeria, Mary Beth Leonard,

and the Commander of the US Air Forces in Europe and Africa, Gen Jeffrey Harrigian, said the United States held bi-lateral talks with Nigeria aimed at containing terror financing.

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L-R: Executive Technical Assistant to the Managing Director/CEO, Fidelity Bank Plc, Mr. Adebayo Adeyinka;MD/CEO, Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe; Governor of Ogun State, Prince Dapo Abiodun; Executive Director, Lagos & South-West Directorate, Fidelity Bank Plc, Dr. Ken Opara; and Branch Leader, Abeokuta Branch, Fidelity Bank Plc , Mrs. Titilola Odede, during a visit to the governor to commiserate with him on the demise of his father in Abeokuta...recently

Dogara: Any System Alleged Fraud: Court Freezes Ganiyu Rufai’s that Exploits the Poor, Accounts, Seizes Lekki Home a Recipe for Disaster Wale Igbintade

Adedayo Akinwale in Abuja The former Speaker of the House of Representatives, Hon. Yakubu Dogara, has warned that any system of government that exploits the poor but reward and extols those that have accumulated wealth is a recipe for disaster. Dogara stated this yesterday in Abuja when he received the delegation from Tikau Emirate. The delegation was led by the Galadima Tikau, Mr. Muhammed Sarki, who presented the letter of conferment of traditional title on Dogara from the traditional ruler, Mai Tikau, HRH Alhaji Muhammadu Abubakar. Dogara noted that considering what is happening in Europe and some traditional democracies, all leadership, all modes of

government in the world would have to adjust whether they like it or not. He stated: “And again that is a message to all of us. When a system where people who exceedingly accumulated capital (money) are exalted and rewarded, while les less privileged are left to be exploited, will no longer work. “That means we will have to do more for people who are less privileged. When you have a system that promotes the exploitation of the poor, where only very few, insignificant part of the population who are privileged and rich swim across the ocean of prosperity, where the poor and the vulnerable are left off to drown the the vast ocean of poverty it is just a recipe for disaster,” he warned.

ActionAid Condemns Planned Increase of Electricity Tariff Michael Olugbode inAbuja ActionAid Nigeria, a nongovernmental organisation, has condemned the alleged planned increase of electricity tariff, saying such action may further erode the purchasing power of Nigerians and add to their already impoverishment. The organisation in a statement signed yesterday by its Communications Coordinator in Nigeria, Lola Ayanda, said the alleged resolution by the Nigerian Electricity Regulatory Commission (NERC) directing the 11 electricity distribution companies (Discos) to increase their tariffs from September 1, 2021 (today) will further erode the purchasing power of Nigerian

workers in formal and informal sectors and further impoverish more Nigerians. Ayanda quoted the Country Director of the organisation, Ene Obi, to have said in Abuja that: “The increase in electricity tariff is not only ill-timed but insensitive to the precarious plight of Nigerians whose lean disposable incomes are already decapitated. “ActionAid’s position is hinged on the premise that previous hike in electricity tariffs had not translated to effective and regulatory strategies to manage the impact of such hikes on macro-economic indices affecting end-users who are currently economically crippled and trapped.”

A Federal High Court sitting in Lagos yesterday ordered the interim forfeiture of funds and properties traced to Mr. Abidemi Ganiyu Rufai, the suspended Special Assistant to Ogun State Governor, Dapo Abiodun facing internet fraud charges in the United States(US) of America.

Justice Tijjani Ringim made the order following an ex-parte motion filed and argued by a counsel to the Economic and Financial Crimes (EFCC), Ebuka Okongwu. The order covers Rufai’s property located at House 11. Omodayo Awotuga Street, Bera Estate, Chevy View, Lekki, Lagos, and funds in his accounts

domiciled in Sterling Bank Plc and Zenith Bank Plc. The anti-graft agency also joined Rufai, his firm, Omo Mayodele Global Investment and Sterling Bank Plc as first, second and third respondents in the suit. Okongwu informed the judge that it was essential for the court to grant the interim

forfeiture to preserve the res and prevent further dissipation of the defendants’ funds in his Sterling Bank account. He furnished the court with an affidavit sworn to by an EFCC investigator, Usman Abdulhamid, detailing the agency’s investigation of Rufai in collaboration with the Federal Bureau of Investigation (FBI).

24 Persons Arrested in Lagos for Reclaiming Wetland

Segun James

Twenty four persons have been arrested while trying to reclaim a government dedicated wetland in Lagos. The State Ministry of the Environment and Water Resources in a statement said that the men were arrested while engaging in reclamation of a wetland at

Mosafejo Mowo in Badagry. This is as the government has sealed the premises of a firm of private developer that was constructing on the wetland. The ministry in a statement signed by Mr. Kunle Adeshina, said the raid by security agents and officials from the department of Conservation and Ecology followed the non compliance

of the company with several stop-work notices served on them. The statement added that officials of the ministry observed the series of encroachment during routine monitoring of wetland in the state and on the March 1, 2021, a stop work order was served on the company followed by a renewal on two different occasions.

“A stop-work order dated June 29, 2021, was issued and served, but due to the failure of the company to present required approved documents and its refusal to stop work at the site, another stop-work order was served on April 8, 2021, and this was followed with messages forwarded to the representatives of the company,” the statement said.

Borno Confirms 43 Killed by Suspected Cholera Outbreak

Michael Olugbode in Maiduguri

Borno State Government yesterday confirmed the death of 43 persons as a result of suspected cholera outbreak in the state. Addressing a press conference in Maiduguri, the state Commissioner for Health, Mrs. Juliana Bitrus, said 559 suspected

cases have been recorded as at August 30, with 57 admissions in seven local government areas of the state. According to her, the affected local government areas include Gwoza, Kaga, Hawul, Magumeri, Damboa, Maiduguri Metropolitan and Jere. She revealed that Gwoza LGA has the highest figure with 354

suspected cases and 18 deaths, while Maiduguri metropolis has the least cases of four cases and no death. The commissioner, while observing that the state has not recorded any cholera case in the last two years, attributed the latest outbreak to open defecation, poor sanitation and hygiene as well as high

population density in IDP camps. She revealed that the state government has activated primary healthcare emergency operation centres, established disease rapid response teams at local government level and strengthen the surveillance system from community to local government to detect suspected cases.

PDP Has Not Zoned Presidency to North, Says former National Legal Adviser The Peoples Democratic Party (PDP) has not zoned its presidential ticket to the Northern part of the country, a former national legal adviser of the party, Mark Jacob has said. Jacob, who is also a former Attorney General and Commissioner of Justice in Kaduna State disclosed this when he appeared on ARISE

News Channel, the broadcast arm of THISDAY Newspapers on Monday. “Nobody has discussed anything on zoning in our party. We have not zoned our party’s presidential ticket to the North. In fact, the feeling among members is that it should be zoned to the Southern part of the country”, he said. According to him, though it

is democracy and every member has the right to their opinion while the party would not take unpopular opinion from any of its members. A national newspaper recently reported that there is a high likelihood that the PDP would pick its presidential candidate for the 2023 elections from the northern part of the country.

The paper also said the party’s stakeholders were set to zone the chairmanship position of the party to the South. But during its 92nd National Executive Committee (NEC) meeting at the weekend, the party had announced that it would arrive at a zoning formula for the National Working Committee (NWC) at a meeting billed for September 9.

WEDNESDAY SEPTEMBER 1, 2021 ˾ T H I S D AY

NEWS XTRA

N20bn Bailout: Court Freezes Kogi’s Account Wale Igbintade The Federal High Court, Lagos, yesterday froze the Kogi State Salary Bailout Account number 0073572696, which is domiciled in second tier bank over a loan of N20 billion obtained from the bank. Justice Tijjani Garba Ringim ordered the freezing of the account pending the conclusion of investigation or possible prosecution by the chairman of the Economic and Financial Crimes Commission (EFCC). The EFCC had approached the court for the order in an ex-parte application brought pursuant to section 44(2) of the Constitution and section 34(1) of the EFCC Act and under the inherent jurisdiction of the court. The Counsel for the EFCC, A. O. Muhammed, informed the court that the order was necessary to preserve the res and abate further dissipation of the funds in the account. Muhammed told the court that the N20 billion loan was meant to augment the salary payment and running cost of the state government was kept in an interest yielding account with Sterling Bank. He added that instead of using the money for the purpose it was meant for, Sterling Bank Plc acting on the instruction of the Kogi State Government, transferred the money from the loan account and placed same in a fixed

deposit account. He stated that the Sterling Bank Plc is yet to present any credible evidence to show that the facility is well secured. Granting the application, Justice Ringim ordered the EFCC to publish the order in a national newspaper and

The residents of Imo State have urged the state Governor, Hope Uzodinma, to strengthen the cleanliness, security, and safety of lives and property of the people of the state by calling officials of Owerri Capital Development Authority (OCDA) and the Imo State Waste Management Agency (ISWAMA) to order. They noted that the activities of these agencies have continued to threaten the peace, health and security of the people of the state, as they have allegedly deviated from their original responsibilities. Describing the action of the government workers as condemnable and totally unacceptable, the residents, who

The Ekiti State Governor and Chairman of the Nigeria Governors’ Forum (NGF), Dr. Kayode Fayemi, would deliver a lecture at the Obafemi Awolowo University, Ife-Ife, on Thursday, September 2. The lecture would take place at a conference organised by the Astute Debaters’ Club, Obafemi Awolowo University with the theme: “Arresting Nigeria’s Drift Towards the Precipice” and debate topic: “Nigeria at Crossroads: Disintegration or Indivisibility.” Fayemi would speak on issues bordering on Nigeria’s national unity and stability. A statement signed by

suspected to be proceeds of unlawful activities warehoused in account No. 0073572696 domiciled in Sterling Bank, Plc with the name Kogi State Salary Bailout Account He said the commission acted on the said intelligence

and assigned same to the chairman of the monitoring unit, where it was discovered that on the April 1, 2019, the management of Sterling Bank Plc approved an offer of N20 billion bailout loan facilities for Kogi State Government.

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spoke to journalists, called on the governor to immediately intervene to remedy the ugly situation. Aside from the allegations of harassment and extortion of businesses and shop owners leveled against the staff of the OCDA, the residents alleged that the taskforce activities might pose severe security and safety challenges to women, children and the entire Imolites. They also complained that ISWAMA, which was created from the disbanded Environmental Transformation Commission (ENTRACO), has allegedly reneged on its duties of keeping the state clean and free from debris, thereby allowing residents suffocate with refuse stench, amid the COVID-19 pandemic.

Fayemi to Speak at OAU Discourse Emmanuel Addeh in Abuja

originating summons deposed to by a member of a team of investigators attached to the chairman of the EFCC’s Monitoring Unit, Lagos, stated that the commission received a credible and direct intelligence which led to the tracing of funds reasonably

The Guest Speaker and Founder, FCMB Group Plc, Otunba Olasubomi Balogun(left), receiving a plaque from the Bishop, Diocese of Lagos West, Church of Nigeria (Anglican Communion), Rt. Reverend James Odedeji, during the God In My Life Series organised by Archbishop Vining Memorial Church Cathedral in Lagos…recently

Imo Residents Task Governor on Waste Mgt, Security Sunday Okobi

made quarterly report to the court on the progress of its investigation. The judge consequently adjourned the matter till December 1, for the report of investigation. The EFCC in its 13-paragraph affidavit in support of the ex-parte

President of the Group, Mr. Azeezat Adekanye, said that the discourse would proffer solutions to challenges bedeviling the South-west region and Nigeria at large, as well as empower students to generate ideas for equitable development for all citizens. Adeyinka said: “We aim to bring university students from across the South-west to engage in a competitive debate that will enhance their critical thinking skills and foster leadership capability. “This is as we expect to help generate and promote progressive ideas that will positively shape public opinion and ultimately influence public policy,” the statement noted.

Olu of Warri Dissolves Traditional Council, Others Sunday Okobi

The Olu of Warri, Ogiame Atuwatse III, has announced the dissolution of all traditional councils, committees, subcommittees, and revalidation/ confirmation of chieftaincy titles in Warri kingdom. In a statement he personally signed yesterday, the Warri monarch noted that in pursuant to the Itsekiri custom and tradition regarding the powers conferred

on him as the Olu of Warri and by the virtue of the provisions of Section 25 of the Delta State Traditional Rulers, Council and Chiefs Law, CAP T. 2 Laws of Delta State of Nigeria, 2008, “I, Ogiame Atuwatse III, the Olu of Warri, hereby announce, for the information of the public, the Delta State Government and particularly, the traditional rulers and chiefs committee; the dissolution of all traditional councils, committees, sub-committees and the scheduled

exercise of revalidation/ confirmation of chieftaincy titles effective from September 2, 2021.” The statement read further: “For the avoidance of doubts, the Warri Council of Chiefs, the Olu Advisory Council (Ojoye Ojisan), the Olu in-Council, all standing, ad-hoc, and sub-committees are also dissolved forthwith; the mandatory revalidation/ confirmation of chieftaincy titles shall commence on September 2, 2021.”

The statement restated that the timetable for the revalidation and confirmation exercise shall be made available at the Palace Secretariat from September 1, 2021, and the process of registration of all chieftaincy titles with the prescribed authority in accordance with the provisions of Section 25 of the Delta State Traditional Rulers, Council and Chiefs Law, (supra) shall follow immediately after the revalidation and confirmation exercise.”

FG Reviewing Revenue Allocation Formula to Correct Imbalances, Says RMAFC

Victor Ogunje in Ado Ekiti

The officials of the Revenue Mobilisation Allocation and Fiscal Commission (RMFAC) have arrived Ekiti State, as part of its nationwide sensitisation programme on the review of the current revenue allocation formula

that would correct perceived imbalances in the existing formula. Speaking while flagging off the programme in Ado-Ekiti yesterday, the Ekiti State Representative at the RMAFC, Mr. Philips Amujo, explained that the review exercise was informed by the fact that the

political structures of the country had since changed with the creation of additional states and local governments. Other reasons for the review include the inability of current vertical formula to adequately address the apparent mismatch between statutorily assigned functions

and tax powers to each of the three levels of government. Amujo assured that at the end of the exercise the current vertical revenue sharing arrangement would be reviewed to produce a fair template that could assuage every stratum of the Nigerian society.

NACCIMA Seeks Improved Partnership with Diplomatic Community The Nigerian Association of Chambers of Commerce Industry, Mines and Agriculture (NACCIMA) has sought the collaborations of the business and diplomatic communities in Nigeria in order to increase foreign direct investments. At a business meeting held in Abuja yesterday, the National President, NACCIMA, Sir Ide John Udeagbala urged them to look beyond the country’s challenges

and focus on its strength by making representations on their behalf to the private sector of their various countries. Udeagbala added that his administration would deepen and expand its collaboration with the private sector of their countries through available platforms and expressed readiness to facilitate opportunities for companies seeking partnerships. Chairman of the occasion,

the Minister of Trade, Industry and Investment, Otunba Niyi Adebayo urged the diplomatic community to maintain confidence in both cross border and wider international trade and investment platforms which are critical to economic recovery amidst the pandemic. He commended the association for playing pivotal roles in expanding the frontiers of business in the country and urged them

to continue in attracting more investments. The Chief Executive Officer of Nigerian Export Promotion Council NEPC, Mr. Olusegun Awolowo, who was also recognised for his agency’s collaboration with NACCIMA, called for a renewed focus on non-oil exports as a critical way of diversifying the national economy in line with the vision of President Muhammadu Buhari.

Buhari Commiserates with Shehu of Borno over Brother’s Demise Deji Elumoye in Abuja President Muhammadu Buhari has commiserated with the Shehu of Borno, Abubakar El-Kanemi, over the death of his elder brother, Abba Garbau

According to a release issued yesterday by his spokesman, Garba Shehu, the President said the El-Kanemi family “is steeped in rich history and renowned for knowledge and scholarship.

“Your older brother, Alhaji Abba Fari Shehu Umar Garbai, until his death, the District Head of Munguno, was a great man in his own right. He was a man of character and remarkable integrity. He lived

his entire life in the service of his people. His valuable advice will be greatly missed. May Allah forgive his gentle soul and reward his noble deeds with paradise,” President Buhari stated.

WEDNESDAY SEPTEMBER 1, 2021 ˾ T H I S D AY

NEWS XTRA

Court Stops Obaseki from Enforcing Compulsory COVID-19 Vaccine Directive Wale Igbintade, Segun James, Adibe Emenyonu in Benin City and Blessing Ibunge in Port Harcourt A Federal High Court in Rivers State has granted an order restraining Edo State Governor, Godwin Obaseki and Edo government from enforcing a directive that all residents who have not taken COVID-19 vaccines will be prevented from accessing churches, mosques, banks, event centres and other public places from the middle of September. Arguing the motions for the order in a suit marked FHC/ PH/FHR/266/2021 filed by Charles Osaretin, against the Governor and five others, the applicant’s counsel, Echezona Etiaba, (SAN) leading R. C. Keneboth and F. E. Obiosio, urged the court to order parties to maintain status quo pending the hearing and determination of the motion on notice, for the enforcement of the applicant’s fundamental human rights. The applicant also prayed for leave of court to serve the respondents by publishing the court’s processes in a national daily newspaper circulating in Nigeria. Justice Stephen Dalyop Pam granted the orders as prayed.

The court subsequently adjourned till September 10 for a hearing of the substantive motion. Obaseki had ordered that from the second week of September 2021, large gatherings

will only be accessed by those who have at least taken one dose/jab of the vaccine. “From the second week of September 2021, people will not be allowed into worship centres (churches and

mosques), event centres, and receptions without showing proof of the vaccination cards. “From the middle of September 2021, you can no longer access the banking services, if you have not been

vaccinated”. Meanwhile, the Nigerian COVID Response Alliance (NCRA), a coalition of over 70 medical, scientific and faith based Civil Society Organisations has

told Obaseki that has no powers under the law to disallow Edo people from entering churches and mosques without proof of vaccination against the COVID-19 pandemic.

ALL FOR HUMAN RIGHTS…

L-R: United Nations International Children’s Emergency Fund (UNICEF), Country Representative, Mr. Peter Hawkins; Commissioner, National Commission for Migrants and Internally Displaced Persons, Mrs. Imaan Sulaiman; Minister of Women Aﬀairs and Social Development, Mrs. Pauline Tallen; United Nations Women Representative, Nigeria, Mrs. Comfort Lampte; and United Nations Residence Director, Nigeria, Dr. Martins Ejidike, during the UN and partners dialogue on human rights priorities in Nigeria in Abuja…yesterday ENOCK RUEBEN

Visitation Panel Chides UTME: You’re at Liberty to Decide Cut-off Versities for Prioritising IGR Marks, JAMB Tells Institutions invested, and still investing in Kuni Tyessi in Abuja The Presidential Visitation Panel has observed with dismay that tertiary institutions in Nigeria are giving priority to Internally Generated Revenue (IGR) at the expense of quality education. The Chairman of the panel, Mr. Bukar Aji, who spoke on behalf of chairmen of visitation panels of 88 institutions, disclosed this in Abuja yesterday. For example, he said after interaction with faculty heads, unions and other bodies to get to the root of the problems in an institution like the University of Abuja, only about 45 per cent of the 11 terms and recommendations were implemented, which he added may not be a pass mark. Aji, therefore, noted that the federal government had

tertiary institutions, calling for an improved quality to justify the government’s expenditure on institutions. He added that at the inauguration of the panels, the committees took upon themselves to address all 11 terms of reference given to them. “We painstakingly took time to X-ray the entire university management and did our forensic work to come up with the report. “We took time as panel to see the extent of the white paper of the last visitation panel and we observed areas of disappointment. From approval of the last white paper at the University of Abuja, only about 45 per cent of the recommendations were implemented which may not be a pass mark.

Kuni Tyessi in Abuja and Funmi Ogundare

The Joint Admissions and Matriculation Board (JAMB) yesterday cancelled general cut-off marks for admission into tertiary institutions, and gave freedom to

respective institutions to set their individual minimum benchmark for admission. The Board took the decision at the 2021 policy meeting, which was held virtually and chaired by the Minister of Education, Malam Adamu Adamu.

Speaking during the meeting, the Registrar of JAMB, Prof. Is-haq Oloyede, said some universities, such as University of Maiduguri, proposed 150 cut-off mark; Usman Dan Fodio University Sokoto proposed 140; Pan Atlantic University proposed 210; University

of Lagos, 200; Lagos State University, 190; Covenant University, 190; and Bayero University, Kano, 180. The stakeholders also approved October 29, 2021, as deadline for the closure of amendments for 2021 admissions.

Channels Interview: Retired Naval Commodore Honours Defence Intelligence Agency’s Invitation Kingsley Nwezeh in Abuja A former Navy Commodore, Kunle Olawunmi, yesterday honoured an invitation by the Defence Intelligence Agency (DIA) over an interview he granted Channels Television’s breakfast programme, ‘Sunrise Daily’, last Wednesday. The retired senior officer

visited the DIA headquarters in Abuja with his counsel, Femi Falana (SAN), who confirmed the visit. Defence Headquarters had, in recent statement, claimed that the retired military officer, “who is on the military reserve list, was only invited via SMS by DIA authorities to further

furnish the Armed Forces of Nigeria with pressing security information which he may be opportune to have knowledge about as now a professor of global security studies”. It said the proposed meeting between DIA and the retired senior Navy officer was intended to get credible security tips to add value on

the fight against terrorism/ insurgency, banditry and sundry crimes. Falana said the chat with DIA by his client was a friendly chat. “It was a friendly chat. I confirm that it was a friendly chat between Commodore Kunle Olawunmi and his colleagues.

Atiku, Govs, Others in Ibadan Banditry: Katsina, Niger Enforce Fresh Security Measures to Unveil Sports Complex immediate closure of Kankara- has unveiled new measures also directing filling stations to be Francis Sardauna in Katsina Kemi Olaitan in Ibadan Former Vice-President Abubakar Atiku, Chairman of the Southwest Governors’ Forum, Arakunrin Rotimi Akeredolu and his Edo State counterpart, Governor Godwin Obaseki as well as the President of the Nigeria Football Federation, Amaju Pinnick, will join the Governor of Oyo State, ‘Seyi Makinde, to officially unveil the remodelled Lekan Salami Sports Complex, Adamasingba, Ibadan today. Other notable Nigerians expected at the event are a former Military Administrator of Oyo State during whose regime the stadium was initiated, General David Jemibewon (rtd), former governor of the state and the Osi Olubadan of Ibadanland, High Chief Rashidi Ladoja and

a former Super Eagles Coach, Chief Adegboye Onigbinde. A statement by the Chief Press Secretary to the Governor, Mr. Taiwo Adisa, said the event would feature a novelty match between ex-Shooting Stars players 94/98 set and former Super Eagles players 94/96 set as well as a friendly match between the Shooting Stars Sports Club (3SC) and NK Tabor Sezana, a top Slovenian league side. The statement maintained that Teni, Taye Currency and QDot will perform live at the unveiling ceremony, adding that the remodelled Lekan Salami Stadium is coming to life exactly one year after it was awarded to Peculiar Ultimate Concerns Limited through the Alternative Project Funding Approach (APFA).

As the nefarious activities of bandits continue to ravage some parts of Katsina State, the state Governor, Aminu Bello Masari, has ordered the immediate and total closure of Jibia-Gurbin Baure road to all motorists until further notice. The governor also ordered the

Sheme road to all commercial vehicles as he re-enforced the ban on the operation of commercial tricycles and motorcycles from 10p.m. to 6a.m. in the state capital of Katsina, and 6p.m. to 6a.m. in frontline local government areas. While this is happening in Katsina, Niger State Government

aimed at curbing banditry and other criminalities that have pervaded the state in recent months. Part of the measures adopted is the ban on sale of petrol in Jerry cans and directive on fuel outlets not to sell more than N10,000 worth of petrol to motorists at a given time and

wary of vehicles and motorcycles coming for repeat purchases Masari said the closure of the roads and other measures in Katsina were in the exercise of the powers conferred upon him by sub-Section (2) of Section 176 of the Constitution of the Federal Republic of Nigeria as amended.

Enugu Delegation Meets with Visually Impaired Boxing Gold Medalist A delegation of the Enugu State government yesterday met with the visually challenged Commonwealth Boxing Gold Medalist from Nomeh in Nkanu East Local Government Area of the state, Mr. Steve Ogboh, in Enugu. The meeting, according to a statement by the Commissioner for

Information, Nnanyelugo Chidi Aroh, was sequel to the directive of of Governor Ifeanyi Ugwuanyi. The statement added that the Information Commissioner and the Chairman of Nkanu East LGA, Mr. Abel Uchenna Nwobodo, led the government’s discussions with the visually impaired boxer,

who is also a National Sports Festival Gold Medalist, with a view to finding the best ways to assist him overcome his challenges. Mr. Ogboh, who is currently blind, in a video that went viral, identified himself as an indigene of Nomeh in Nkanu East LGA of Enugu State, adding that he won a gold

medal for Nigeria in boxing at the 1974 Commonwealth Games in New Zealand. The gold medalist appealed to government at any level to assist him with a smart walking stick and also help him to resolve the communal issues he is having with some people in his community over his identity.

WEDNESDAY, ͹˜ ͺ͸ͺ͹ ˾ T H I S D AY

WEDNESDAYSPORTS

Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com

0811 181 3083 SMS ONLY

D’Tigers Bow out of 2021 Afrobasket, Lose 68-80 to Uganda To play Uganda, Mali, Cape Verde in FIBA Femi Solaja with agency report D’Tigers will no longer be playing any part at the ongoing 2021 FIBA Afrobasket following Nigeria’s 68-80pts loss to Uganda yesterday evening in Kigali, Rwanda. All hopes were centred around a D’Tigers win against Uganda for a guaranteed spot in the quarterfinals after failing to top their group and gain an automatic quarter final place on the back of a loss to Côte d’Ivoire. The number one team in Africa started on the back foot very early in the quarter final playoff clash as they failed to close down rampaging Uganda who shot the lights out from the three point line to open a 12 point advantage heading to the second quarter. Uganda started where they left off in the second quarter as they once again dominated Nigeria to head into half time 44-31pts while Nigeria continued to grapple with the reality on ground. The team failed to deal with Robinson Opong who scored 6 treys from 10 attempts to close out the game with 19pts, 4 rebounds and 2 assists. A disappointed Mike Brown said it was an honour to

have contributed his quota to basketball development in Africa through Nigeria. He regretted the inability of his wards to go farther in the competition while blaming FIBA Africa for putting the team in a tight spot with their decision to go ahead with the competition just immediately after the Olympics. Meanwhile, Nigeria will battle Uganda, Mali and Cape Verde as the team eyes a back to back FIBA World Cup appearance. The draws conducted at the Federation of International Basketball Associations headquarters in Mies, Switzerland on Tuesday saw Nigeria seeded in Pot One alongside Tunisia. According to the schedule already released by FIBA Africa, Nigeria will be in action during the first window. Their first game will be against Cape Verde on Friday, 26th, November, 2021. The Mike Brown led team will be taking on a familiar foe, Mali on the 27th after they met earlier in the run up to the 2019 edition held in China and recently at the 2021 Afrobasket. All eyes will be on the clash against Uganda on the 28th after the latest Afrobasket loss to the east Africans.

Team Nigeria to Play Australia Today in Table Tennis S’final PA R A LY M P I C GA M E S The pair of Tajudeen Agunbiade and Olufemi Alabi, yesterday at the Tokyo Metropolitan Gymnasium moved up to the semi final stage of the men's Class 9-10 table tennis team event of the Tokyo 2020 Paralympic Games. The Nigerian pair defeated their USA opponents two sets to one in the Round of 16 and handed Montenegro 3-0 to progress to the semis to play Australia today. Agunbiade lost to USA's Leibovitz Tahl 3-0 (7-11; 5-11; 8-11) in their engagement, Olufemi Alabi tied back Nigeria's

chance with a 3-1 defeat of Ian Seindenfeld I (7-11; 11-7; 11-9; 11-6) before the Nigerians proceeded to win the doubles in two straight sets. In the quarter finals, Agunbiade went hard against Bakic Luka with a 3-nil set victory while Radovic Filip shied away from Olufemi Alabi. The doubles was to be hard fought but the Nigerians prevailed with first set handicap to finish at 3-2 sets win (8-11; 11-6; 1-11; 11-8; 11-8). Australia’s pair of Joel Coughlan and Ma Lin got the semi final ticket with 3-0 defeat of France.

Thompson Usiyen is Dead Former Green Eagles mercurial forward, Thompson Usiyen is dead. He was reported to have died on Tuesday morning from colon cancer aged 65 years. A source from the Nigerian community in California confirmed the ex international died at his Lamest, Redonda Beach home in California, United States. Usiyen, a former Midwest Academical intermediate wonder striker, shot into the limelight when he helped his regional team defeat their Western region counterparts in Lagos in 1973. The former Hussey College Warri star made his international

debut for Nigeria as an Asaba Textile Mills FC player in 1976. It was a scoring debut as he grabbed the equalizer against Kenya in that 1-1 draw. While Nigeria was preparing for the 1976 Africa Cup of Nations in Ethiopia, Usiyen scored in Nigeria’s 2-1 defeat of Zambia in a friendly game. With Nigeria depending on his scoring exploits, it was a rude shock when he abandoned the team for academic pursuit in the United States . He made his final outing for Nigeria in the first leg of the final qualifiers for Spain ‘82 World Cup when Nigeria lost 2-0 to Algeria in Lagos.

Nigeria’s senior men’s basketball team, D’Tigers yesterday crashed out of the 2021 Afrobasket in Kigali, Rwanda

Super Eagles to Train Behind Closed Doors Today Players, officials to take ECG and COVID-19 tests Twenty-five Super Eagles players are now in camp ahead of the 2022 World Cup qualifier against Lone Star of Liberia on Friday in Lagos. Apart from Zaidu Sanusi, Chidozie Awaziem, Joe Aribo and Paul Onuachu who were yet to arrive the team’s Eko Hotel and Suites camp in Lagos, 24 players trained at the Teslim Balogun Stadium in the evening. According to the Media Officer of the team, Babafemi Raji, Goalkeeper Maduka Okoye did not join the team at the stadium as he was asked to finish his gym rounds instead just like the two other goalkeepers. He confirmed that Eagles training today will not be open to the public. “On Wednesday as we approach the business end of our preparations for the match against Liberia, the team's training sessions will be fully behind closed doors.” The media officer pleaded with sports journalists and fans of the team to bear with the technical crew as it was necessary to take some parts of Nigeria’s preparations away from prying eyes of spectators. “Arrangements are already being concluded to have a

good pre-match conference on Thursday at 2.30pm. It will be virtual,” concludes Raji. Meanwhile, all the players in camp are to take the mandatory

ECG and blood tests to ensure all players taking part in the qualifiers are free from any ailment. “All the players and officials

Gernot Rohr...Super Eagles Head Coach

will today take the mandatory tests as stipulated by FIFA. These comprise of ECG and blood tests to ensure no covid-19 and other infectious diseases.

WEDNESDAY, ͹˜ ͺ͸ͺ͹ ˾ T H I S D AY

SPORTS

Lookman Joins Leicester on Loan TRANSFER NEWS Leicester have confirmed the signing of winger Ademola Lookman from RB Leipzig on a season-long loan. Lookman, 23, joined Leipzig from Everton in 2019 after an initial loan spell. He spent last season at Fulham, scoring four goals in 35 appearances, but was unable to save them from relegation. Foxes boss Brendan Rodgers has been keen to improve his squad, which has finished fifth for the last two seasons. Lookman was part of the England Under-20 squad that won the World Cup in 2017.

Emerson Royal switches from Barcelona to Spurs

Spurs Grab Emerson for £26m from Barca Ademola Lookman (left) joins Leicester City on season-long loan deal

Tottenham are in the final phase to sign Brazil defender Emerson Royal from Barcelona after agreeing a 30m euro (£25.8m) fee. The 22-year-old has spent the past two seasons at Betis, scoring five goals in 79 games. Emerson, who joined Barca from Brazilian side Atletico Mineiro in 2019, featured in Brazil's run to the Copa America final this summer. He is expected to compete

for the right-back slot at Spurs with Japhet Tanganga and Matt Doherty. The Premier League leaders are looking to offload full-back Serge Aurier. Emerson played more minutes than any other Betis player last season as they finished sixth in La Liga to qualify for the Europa League. He has won four caps for Brazil since making his debut in 2019.

Kienka Faces Emerhem at Zenith Bank Tennis Tourney The annual Zenith Bank Tennis competition, which started on Monday at the Ikoyi Club was full of fun with some top level performances from the players. The competition continues today with defending champion of the men's singles, Godwin Kienka, taking on Ebenezer Emerhem who defeated Stephen Ezeagu in the first round on Monday. Kienka emerged the champion

Edinson Cavani (left) May concede the number 7 to returnee Cristiano Ronaldo

Cavani Concedes United’s No.7 Jersey to Ronaldo Manchester United are working amicably with Edinson Cavani to make him drop shirt number 7 for returnee, Cristiano Ronaldo. The Portuguese looked to be heading to Manchester City but following a phone call with his former boss, Sir Alex Ferguson opted to rejoin the club that launched his career at just 18. Ronaldo was handed the Number 7 shirt at United when he put pen to paper the first time round in 2003. He went on to wear the same number at Real Madrid and finally Juventus, and is known around the world for his CR7 brand. But it is looking like the Portugal international forward may not get to wear his iconic shirt number upon his return to Manchester United, as it has already been assigned to Edinson Cavani. United would no doubt rather Ronaldo wear the number 7 due to the immense marketing potential.

And there may be a way the Red Devils can hand the 36-year-old his desired number this season, although it requires them asking the Premier League for special dispensation. Whether the Premier League would agree to the swap

remains to be seen, but it seems United already have the perfect solution in place to ensure Cavani isn’t left with a number he doesn’t want. The current owner of the number 21 shirt at Manchester United is Dan James, who

completed a permanent £30million switch to Leeds yesterday. Cavani wears the same number for Uruguay so could in theory swap to the number 21 and hand Ronaldo the 7 shirt once James says

his goodbyes at Old Trafford. Of course, as aforementioned, the Premier League will have the final say on any last-minute switches. But if the audacious plan falls into place then everyone is happy at Man United.

Enugu Govt Delegation Meets with Visually Impaired Former Amateur Boxer A delegation of the Enugu State government on Tuesday met with a visually challenged former amateur boxer, Mr Steve Ogboh who claimed to have won gold medal at the 1974 Commonwealth Games in New Zealand. Ogboh Hails from Nomeh in Nkanu East Local Government Area of Enugu State. According to a statement issued by the state’s Commissioner for Information, Nnanyelugo Chidi Aroh, the meeting was sequel to “the directive of the ever-caring and compassionate Governor, His Excellency, Rt. Hon. Ifeanyi

Ugwuanyi”. The statement added that Aroh and the Chairman of Nkanu East LGA, Engr. Abel Uchenna Nwobodo, led the government's discussions with the visually impaired boxer, who is also a National Sports Festival gold medalist, with a view to finding the best ways to assist him overcome his challenges. Mr. Ogboh, who is currently blind, in a video that went viral, identified himself as an indigene of Nomeh in Nkanu East LGA of Enugu State, adding that he won the gold medal in boxing in 1974 Commonwealth Game

in New Zealand. The visually impaired appealed to government at any level to assist him with a smart walking stick and also resolve the communal issues he is having with some people in his community over his identity. Although the former boxer claimed in the video to have won the gold in Australia when in fact the Games held in Christchurch, New Zealand. Again, THISDAY checks from archives showed that there was no Ogboh amongst the two Nigerian boxers that won the countries two boxing

gold medals at the 1974 Games. Edward 'Eddie' Ndukwu (57 kg) and Obisia Nwankpa (63.5 kg) won the two boxing gold medals while Modupe Oshikoya won Nigeria’s third gold medal at the Games from the women’s long jump event. The 10 boxers that represented Nigeria at the 1974 Games in New Zealand include; (1) Salisbury Ishola; (2) Christopher Emenogu; (3) Edward (Eddie) Ndukwu; (4) Kayin Amah; (5) Obisia Nwankpa; (6) Isaac Siloko; (7) Fidelis Olayiwola; (8) Kingsley Idani; (9) Isaac Ikhuoria and (10) Fatai Ayinla.

in the last edition staged in 2019. 2020 edition failed to hold due to the outbreak of the novel COVID-19 Pandemic across the world. In the Super Veterian Singles 70s, Innocent Ihebuzor will be up against Kenny Sobamowo while Fso Ugboma plays Chris Akpunohi. In the Ladies Singles, it will be a battle of supremacy between Areje Adegoke and Effiong Ejehi while Eniora Oshiga play against Florence Mandela. Tournament Director, Mr Ekene Nwaokolo says over 90 players are taking part in the competition which is in its sixth edition. Nwaokolo says that all arrangements are in place by the club to guarantee smooth tournament. The smashers will be competing for honours in the Men's Singles A, Men's Singles B, Ladies Singles, Men's Veterans Singles for 60+, Men's Super vets for 70+ and the Team Events. The return of the competition is a delight to the sponsors as the GMD, Mr Ebenezer Onyeagwu, noted that tennis at club level was fun and interesting.

Ikwuemesi Joins Austrian Club SK Vorwarts

Austrian side, SK Vorwarts Steyr, yesterday signed Nigerian Under-20 striker, Charles Ikwuemesi, 20, on a year's deal with an option to buy from Giant Brillars.

Wednesday, September 1, 2021

UT H

& RE A SO

Price: N250

MISSILE

PDP to APC “The situation as presented by Amaechi shows that quiet stealing is a policy of the APC administration. This explains why the administration is heavy on propaganda and has failed to prosecute its oﬃcials and the APC leaders openly indicted for corruption, but only resort to ‘easing out’ such thieves with a pat on the wrist” ---PDP National Publicity Secretary, Kola Ologbondiyan, mocking APC over Amaechi’s alleged looting confession.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

The Sultan Example

any disappointed patriots often sum up their reading of the national horizon by saying that Nigeria has never been so divided. To worsen matters, insecurity is also a severe test of nation - building at this time. The defenders of President Muhammadu Buhari, who may legitimately disagree with this view of things, should at least concede that those who hold the opposite view are actually speaking for not a few of their compatriots. The political leadership has grossly mismanaged the country’s diversity. Not enough sensitivity has been shown in tackling the fault lines. The net effect is that hardly is anyone speaking for Nigeria anymore. The subjective factor of a sense of belonging is, perhaps, the most important one for national unity. That crucial factor in nation-building is being steadily eroded under Buhari’s watch. It is, therefore, a false assumption to think that national cohesion could be taken for granted in the circumstance. Putting it in the mildest form, it is worrisome that Buhari is not paying adequate attention to this intangible factor in his policy steps. The President’s publicists correctly point to the tangible fact of infrastructure being built; but they have little or nothing to say about Buhari’s efforts at nation-building. It would be a great thing for the health of the polity if before the end of his tenure Buhari could be sold to the public as a unity President. To achieve that the President’s approach to nation-building should change now. Little surprise that the socio-political space is practically left for ethnic and regional champions as the strident voices of their people. Positions are progressively getting hardened. The advocacy for the restructuring of the Nigerian federation to make it more workable and acceptable to all parts of the country has been hijacked by separatists. It should worry those strategising for the Buhari administration that these are not mere agitations by rabble rousers. In various parts of the country, embittered and serious-minded intellectuals and other elements of the middle and upper classes are deeply (albeit remotely) involved in the agitations. Movements are springing up for the creation of all manners of republics. Driving the centrifugal pull is a deep sense of alienation from the centre. When the intellectuals of the ethnic and regional movements talk of “self-determination,” with a good measure of justification, it would be difficult for the government and its agents to dismiss, much less criminalise that approach. What with the fault lines becoming increasingly conspicuous, the situation calls for influential voices that could resonate across the lines. It is in this context that of the voice of the Sultan of Sokoto, Alhaji Muhammadu Sa’ad Abubakar III, is noteworthy in some respects. A refrain of the ethnic and regional leaders in their criticism of the President is that of “Islamisation and Fulanisation.” Now, the Sultan is a Fulani Muslim like Buhari. In fact, both of them are Muhammadu. Beyond Buhari, some of the critics from other ethnic groups and religions often insinuate that the Fulani Muslims of the Sultan’s class are also culprits of the alleged agenda of Islamisation and Fulanisation. Talking about identity politics many years ago, the late Kogi technocrat turned politician and Aro of Mopa, Chief Sunday Awoniyi, famously said “you cannot be more Christian than a Sunday just as you cannot be more Yoruba than an Awoniyi.” In fact, as he correctly added semantically, Awoniyi is a synonym of Awolowo. Awoniyi was responding to his Yoruba critics who accused him of identifying with the north in his politics. Similarly, it could be said of the Sultan that you cannot be more Fulani than a direct descendant of

Alhaji Sa’ad Abubakar III, The Sultan of Sokoto Shehu Uthman Dan Fodio just as you cannot be more Muslim than the President of the Supreme Council for Islamic Affairs. The Sultan has both identities. Yet, the Sultan has never been impulsively defensive against the charges of Islamisation and Fulanisation. The whole of the Fulani ethnic group has been unjustifiably profiled as a result of the activities some Fulani elements perpetrating crimes such as killings, kidnappings and rapes. As the traditional ruler of the Sokoto Caliphate, the Sultan has never denied or

rationalised this trend in criminality. Instead he has openly denounced criminality regardless of the ethnic origins of the criminals even while not neglecting the material context of poverty and social exclusion that breeds the criminals. He has called for justice to be done. Similarly, he has maintained for years that the Boko Haram terrorists are not fighting for the cause of Islam. He should know what he is saying on these issues. Imagine on the contrary if from his vantage position as a leading light of the Fulani ethnic group and the religion of Islam, the Sultan had opted to respond to the profiling of the Fulani and the allegations of turning Nigeria into an Islamic theocracy with vitriolic attacks and incendiary rhetoric. Instead of this dangerous step he has devoted his energy, time and resources to promoting inter-religious dialogue. For instance, both the Sultan and the Catholic Bishop of Sokoto, Bishop Mathew Hassan Kukah, have publicly demonstrated mutual respect and goodwill towards each other as leaders of their respective faiths. They both work for inter-faith dialogue. More pointedly, the Sultan’s interventions on the state of insecurity have been consistently honest and responsible. As a retired brigadier- general of the Nigerian Army, the Sultan has made constructive criticisms of the government’s approach while offering concrete solutions. For instance, at a security summit in Abuja four months ago, the Sultan said among other things: “Let us not deceive ourselves that things are alright, things are not alright… We know it and we see it.” The Sultan has accused security agencies of not being pro-active enough. Below is his response a week ago to a viral video of an Islamic cleric calling for reprisals after the killings of 22 travellers in Jos, Plateau state : “What are our security agencies doing that they cannot invite those making these videos and saying nasty and bad things that raise

tensions? Nobody should be above the law, whether you are a Christian or Muslim. You cannot incite people to kill innocent people.” On the perennial claims of security agencies that “unknown gunmen” are responsible for the killings, the Sultan responded as follows: “How can people, who do these things, be unknown? Where are our intelligence agencies? Don’t we have a proactive intelligence agency that will think ahead of the bandits? “In eastern Sokoto alone, there was a day we buried 76 persons, who were killed in cold blood by criminals who came from ‘nowhere’. There was another day we buried 48 persons in the same Sokoto, but you didn’t hear about it. “All the people committing such atrocities must be identified. The security agencies must up their game, find them and take action on this kind of carnage. If we start doing so, all this carnage we see in this country will stop.” The Sultan has also called for a national dialogue to resolve the crisis. Believing that dialogue and not violence would solve the problem, he asked:“What is so difficult in the Presidency leading a national dialogue?” It is one of the dispiriting contradictions of the present situation that identity politics is at the fore when class struggle should be more intense in view of the burgeoning poverty and misery that unite the overwhelming majority of the people. As former President Olusegun Obasanjo rightly said recently, it would be costlier for Nigeria to break up than to be united. Leaders at various levels should be conscious of this undeniable reality. Those who are in position to wield influence on the different sides of the fault lines should, therefore, be measured, constructive and sensitive of others in their statements and activities. On this note, the example of the Sultan of Sokoto is worthy of emulation by other leaders.

Monuments of Impunity The absolute contempt for accountability in the public sector was unmasked recently by a federal legislator. It is a sordid story of the chronic violation of rules by Ministries, Departments and Agencies (MDAs). The MDAs simply shun the queries from the Office of the Auditor - General (OAuGF) of the Federation with impunity. The occasion was a workshop organised by the Public Affairs Committee (PAC) of the House of Representatives on the following theme: “Auditor - General’s Queries – the ABC of Responses and PAC Technology Innovation and MDAs Compliance.” According to PAC chairman Hon. Oluwole Oke, the accounts of “12 MDAs (were) never audited from 1993 to 2010; 65 agencies have never been audited since they were created (and) 956 MDAs did not submit their reports to the OAuGF between 2011 and 2016.” An administration that permits 1,033 MDAs not to submit reports to the auditor can hardly be rated high on any scale of accountability. A retired civil servant, who served in the first republic, once said that perhaps there would be no need for anti-corruption agencies if only the old General Orders (GO) that governed the public service in the days of yore were scrupulously obeyed. Doubtless, a lot of corrupt acts could have been prevented if the routine auditing of

the accounts of the MDAs and other processes had taken place, as a matter of public service culture. In such a culture, the enormous costs of investigations and trials of suspects would be avoided. And the system would be more efficiently run. The retired civil servant referred to in the foregoing was, of course, talking of the golden age of the Nigerian civil service. That was long before the Murtala/Obasanjo regime destroyed with the jackboot rash of reforms in the mid-1970s the ethos of the public sector which provided the moral fibre for the service. The scandalous figures of impunity are certainly not a good advertisement for an administration that makes the fight against corruption a cardinal programme. Whatever happened to the war against corruption when management of trillions of naira by these MDAs could escape the definitive audit process? As the Chief Executive Officer (CEO) of the state, President Muhammadu Buhari should frown at the fact that this fragrant disregard for rules has not become history six years after he came to power. More often than not, the focus is on the impunity by officialdom which have political and civic consequences in the society. Attention should also be paid to acts of impunity which impair the efficient and effective delivery of public

goods. That is the impunity with socio-economic effects. An efficient and prudent management of limited resources is a sine qua non for the MDAs to deliver public goods - public education, healthcare, social housing, sanitation, potable water, agricultural incentives, infrastructure development etc. That’s why the public must take interest in this pernicious trend in the public sector and kick against it vigorously. The legitimate advocacy for the proper funding of MDAs to perform their functions in the public interest should be matched with a push to make them fully accountable for the funds. Otherwise, the purpose of common good would not be judiciously served. The centrality of an accountable system to the development process cannot be denied. The office of the auditor-general of the federal government (wrongly called the office of the auditor-general of the federation) should be strengthened to perform its duty of accountability. The fact is that the auditor-general issuing queries to federal MDAs cannot be that of the whole federation because the ugly picture painted above does not include the situation in the states. It would be interesting for the public to also know the audit stories in the states. By failing to answer audit queries, the MDAs are erecting monuments of impunity. These monuments should not endure.

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