FRIDAY 23TH SEPTEMBER 2022

National Peace Committee Meets in Minna, Denounces Vote-buying Candidates to sign two peace Accords As Otedola, Ahmed, Agwai, Momoh, Hassan join group Laleye Dipo in Minna

The National Peace Committee (NPC) met in Minna yesterday where its members vehemently condemned vote-buying and fake news ahead of the 2023 general election.

NPC also appointed Executive Chairman, Geregu Power Plc, Mr. Femi Otedola, and three other eminent personalities as members.

The others who joined NPC as members were former defence minister and ex-Secretary to the

Government of the Federation, Yahale Ahmed; former Chief of Defence Staff, Lt. General Martin Agwai; founder of Channels Television, John Momoh; and Director at the Centre for Democracy and Development (CDD), Miss Idayat Hassan.

The committee also agreed that candidates and their spokespersons would have to sign two peace accords.

A two-page statement made available to newsmen at the end of the NPC meeting held at the Minna residence of

General Abdulsalami Abubakar, reminded Nigerians that the 2023 general election "is more than an election. It is an opportunity to serve Nigeria, to defend Nigeria and to uphold her unity and progress.

"Nigerians should avoid the

spread of fake news and uphold the principles of tolerance, respect, civility and decency in all public and private conversations and engagements about elections and the progress of Nigeria."

Continued on page 5

Sylva: Oil, Gas Industry Operators to Get 10-year Tax Vacation When PIA Takes Off Fully... Page 6 Friday 23 September, 2022 Vol 27. No 10027. Price: N250

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Akeredolu: We’re Buying AK47 to Defend Our People... Page 41

Buhari: Nigeria's Investment in Security Yielding Positive Results Hails military, woos foreign investors Says govt taking bold steps to address revenue underperformance NNPC, US Corporation, Exim Bank seek financing for multi-billion dollar gas project Deji Elumoye in Abuja President Muhammadu Buhari yesterday expressed happiness

that the present administration's investments in improving security were yielding good dividends across the country.

The president said this just as the Nigerian National Petroleum Company Limited (NNPC) said it has opened talks with the United

States Finance Corporation and Exim Bank to seek financing for its multi-billion-dollar gas projects.

Speaking further, Buhari gave

kudos to the Nigerian military and other security agencies for making significant progress in the fight against insecurity and building the

momentum in reducing challenges to its barest minimum.

Continued on page 5

Emmanuel: PDP Crisis Festering Because People Failed to Walk the Talk Confident disagreements not too difficult to resolve Explains party can’t ignore the aggrieved if it intends to win 2023 polls We'll stay back to fight for equity, Wike assures, promises to deliver all elective positions in the state Chuks Okocha in Abuja and Blessing Ibunge in Port Harcourt Akwa Ibom State Governor and Chairman, Peoples Democratic Party (PDP) Presidential Campaign Council, Udom Emmanuel, says the crisis in the party has festered because some people do not act in ways that agree with the things they say. Emmanuel, who stated this during an interactive session on national television, said the time had come for members to talk the talk and walk the walk.

The governor believed the disagreements in the main opposition party were not insoluble. But he insisted that aggrieved members could not be ignored if the party wanted to win next year’s presidential election.

Relatedly, Rivers State Governor Nyesom Wike, whose push back against alleged betrayal by the Continued on page 5

STANDING FOR PEACEFUL POLLS...

L-R: Former Head of State, Gen. Abdulsalami Abubakar; Sultan of Sokoto, Muhammadu Sa'ad Abubakar; President of Dangote Group, Alhaji Aliko Dangote; Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu and Executive Chairman, Geregu Power Plc, Mr. Femi Otedola, after a meeting of the National Peace Committee on the 2023 presidential elections held in Minna, Niger State…yesterday

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Malami Highlights How Buhari is Addressing Crude Oil Theft The Attorney-General of the federation and Minister of Justice, Abubakar Malami has said Nigeria is making concerted efforts in addressing oil theft including spending enormous resources on pipeline surveillance security through the regular Armed Forces budgetary spending and payments to civilian security companies under unique Public Private Partnership (PPP) arrangements.

This was made known by the Special Assistant on Media and Public Relations, Office of the Attorney-General of the Federation and Minister of Justice, Dr. Umar Jibrilu Gwandu, in a statement issued to newsmen.

Malami was quoted to have stated this yesterday, in New York at the Nigeria International Partnership Forum with the theme, ‘Scaling up International Economic Partnerships for Nigeria in a Post Covid - 19 World.’

The forum was organised by the federal government of Nigeria and the African Business Roundtable, an offshoot of the 77th Session of the United Nations General Assembly 2022 where the minister spoke on the topic ‘International Action to Stop Crude Oil Theft: Proposed Measures and the Road Ahead’ According to the minister, the Buhari-led federal government of Nigeria had also taken operational and strategic measures to deal with the challenge through the signing into Law of the Petroleum Industry Act, 2021 (PIA) after

several years of Legislative processing and cycles of review.

According to him, the PIA which seeks to provide legal, governance, regulatory and fiscal framework for the Nigerian Petroleum Industry was one of the most audacious attempts to overhaul the Petroleum sector in Nigeria.

“New specialised entities such as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPR) with clear mandates and statutory powers to handle specific responsibilities in their respective spheres of regulatory influence, were created under the PIA, among other innovations aimed at improving the Nigerian Oil and Gas landscape,” he said.

He added that the Joint Task Force (JTF), comprising Security Officers from all the relevant Security Forces were committed to the eradication of illegal Artisanal Refineries in the Niger-Delta region as criminals involved in illegal refineries were responsible for about 25 per cent of stolen crude.

Malami noted that the Buhari’s administration was seriously cracking down on crude oil theft with a view to lifting investors’ confidence; mitigate attacks on terminals and the country’s territorial waters.

He said while prosecution of suspected criminals used to be a challenge, the Suppression

NATIONAL PEACE COMMITTEE MEETS IN MINNA, DENOUNCES VOTE-BUYING The statement, which had the names of the conveners of the forum, Abdulsalami and Bishop Mathew Hassan Kukah, on the second page, advised all political actors, especially their publicity agents and media advisers, to "shun personal attacks, avoid insults and incitements reject the spread of fake news and commit to issue- based campaigns and political rallies in the upcoming 2023 general election."

NPC called on all political parties, security agencies, the Independent National Electoral Commission (INEC), and all stakeholders to ensure “that Nigeria is placed first above regional and sectional claims".

The statement explained that the first peace accords would be signed on September 29 at the International Conference Centre, Abuja, to commit all presidential candidates and their spokespersons to peaceful political campaigns and rallies devoid of violence, incitement, and personal insults.

According to the document, the second peace accords would come up shortly before the elections. "it is intended to commit candidates to accepting the outcome of the votes as long as it is adjudged to be free, fair, and credible," the statement added.

Chairman of INEC, Professor Mahmood Yakubu, who attended the meeting, assured that the commission would conduct a credible election.

Yakubu explained that INEC had been keeping to its timetable, saying eight out of the plans have been successfully implemented.

Present at the meeting were Abdulsalami; Kukah; Sultan of Sokoto, Alhaji Saad Abubakar; Etsu Nupe, Alhaji Yahaya Abubakar; former Secretary to the Government of the Federation, Alhaji Yayale Ahmed; and Alhaji Aliko Dangote.

NPC is a non-governmental initiative conceptualised in 2014, in response to emerging threats occasioned by the 2015 general election. Since then, the committee has emerged as one of the leading lights and credible organisations in

Nigeria’s democratic journey.

It is an initiative made up of eminent elder statesmen who undertake efforts to support free, fair and credible elections as well as intervene in critical issues of national concern through highlevel mediated and alternative dispute resolution mechanisms.

At inception, NPC had an urgent, broad-based mandate to make modest contributions towards the smooth and peaceful conduct of the 2015 elections, devoid of any breakdown of law and order before, during and after the electioneering process.

Consequently, its core mandate is: to observe and monitor compliance with Abuja Accord signed by the political parties during elections; to provide advice to the governments, both federal and states and INEC on resolution of political disputes and conflicts arising from issues of compliance with the Abuja Accord; to make itself available for national mediation and conciliation in the case of post-electoral disputes or crises; and to ensure peaceful outcome of general elections that is acceptable to the generality of Nigerians and the international community.

Other members of the committee include Okoh Ebitu Ukiwe; Priscilla Kuye; Archbishop Nicholas Okoh; Mr. Brown Ade; Mr. Sam Amuka; Yakubu; Professor Ibrahim Gambari; and John Cardinal Onaiyekan.

Yakubu recently called on NPC to engage actors in the political space early enough, in order to minimise incidences of electoral violence in the 2023 general election.

The INEC chairman had appreciated the contribution of the committee to peaceful elections through the Peace Accord initiative introduced in 2015, adding that “nations are lucky when they have moral voices that their authority does not draw from statutory provisions, it exists purely from moral persuasion, and people listen.

“That is why I think it is a big plus for us as a nation to have a national peace committee and the calibre of people involved in the National Peace Committee.”

of Piracy and Other Maritime Offenses (SPOMO) Act, 2019 provides legal backing for prosecution and punishment of offenders.

The office of Attorney-General of the Federation remains, “committed to effective prosecution of all crude oil Theft and related cases, including High-Profile ones. On a similar note, the Economic and Financial Crimes Commission (EFCC) is equally currently prosecuting

hundreds of cases bordering on oil theft. All these show a serious resolve by the Nigerian Government to punish offenders.

“As recent as 13th August 2022, the NNPC Ltd, launched an Application to check oil theft, called Crude Theft Monitoring Application.’ The NUPRC is also determined to tackle the menace through Technology with the use of Lease Automatic Custody Transfer (LACT) Meters to check flow and pressure rates and to

generally improve measuring capabilities,” he explained.

The statement added that there was also an ongoing multiagency collaboration involving the Central Bank of Nigeria, Nigerian Export Processing Zones Authority, Nigerian National Petroleum Company Limited, NUPRC, NPMDA, Nigerian Ports Authority, Ports Health Authority, Nigerian Immigration Service, Shipment Inspection Units, - all jointly collaborating to put an

end to the menace of oil theft in Nigeria.

The minister noted that it was upon the realisation of the scale of corruption that the government continuously embarked on direct action and creative means of eradicating crimes in Nigeria with all hands being put on deck to ensure the elimination of the crimes by providing security and intelligence officers with sophisticated systems and means to tackle the menace.

EMMANUEL: PDP CRISIS FESTERING BECAUSE PEOPLE FAILED TO WALK THE TALK party’s leadership during its presidential nomination is at the heart of the PDP crisis, said he would not leave PDP on account of his grievances but stay back to fight and demand equity.

Nonetheless, spokesperson of the PDP presidential campaign, Mr Charles Aniagwu, said the party’s presidential candidate, former Vice President Atiku Abubakar, was still open to dialogue with Wike and his group.

Meanwhile, the South-west Forum of PDP Shareholders for Justice, yesterday, said the PDP national chairman, Dr. Iyorchia Ayu, would become the hero of the party’s journey to 2023 if he voluntarily resigned in the collective interest.

Wike and his associates had asked Ayu to resign in order to create some balance of power in the party between the southern

and northern parts of the country.

In another development, the PDP presidential campaign organisation reacted to a statement

by Minister of Information and Culture, Alhaji Lai Mohammed, describing him as a liar, who turns truth on its head.

Speaking during an interaction on national television, Emmanuel maintained that the PDP crisis was “not high mountains that are so difficult to climb”. He said the problem festered because some people could not keep their words.

According to him, Wike and other “dissenting voices” within the party have the right to express their views, which would not be ignored, because “This is a family business.

Emmanuel said, “Nyesom Wike is my brother, you all know that.

“One thing I discovered about politics and life: people should try

to do what they say they will do; that is the cause of some of the problems. If I say I will do B, if A happens, let me keep to that.

If I say I will do B if C happens, let me also keep to that.”

He explained, “It is not about mentioning people’s names; everybody has a right to express his views the way he wants. PDP is a family. I can assure you we will resolve it.”

Emmanuel, who reiterated that Wike’s dissatisfaction would not be ignored, also explained why he was not part of the meeting called by the Rivers State governor and his associates to announce their withdrawal from the party's campaigns.

The Akwa Ibom State governor stated, “Don’t worry about that now. We sensationalise matters a whole lot. What we try to do is that we try to box individuals

into our lifestyle, it cannot work like that. We are all adults. We know what is good for us; we know what is right for us.

“So, allow people to air their views but don’t also ignore people.

We cannot ignore anybody if we must win elections in 2023. We cannot ignore anybody, we need to go back and carry everybody along. We are not going to ignore any dissenting voice.

“You don’t ignore issues and believe the issue will go away.

This is one thing we will not ignore. We will take it head-on and resolve it.”

We'll Stay Back in PDP to Fight for Equity, Wike Assures Continued on page 42

BUHARI: NIGERIA'S INVESTMENT IN SECURITY YIELDING POSITIVE RESULTS Speaking at the Nigeria International Economic Partnership Forum held on the margins of the 77th UN General Assembly in New York, the president pledged that the federal government would do more to improve security, recognising that the sector was another critical element in the flow of investment, and overall economic and infrastructural development.

He explained: ''We will continue to give all necessary support to our security outfits to ensure that they are able to tackle the challenge headlong,'', adding that, ''the advantages and disadvantages of investing in Nigeria far outweigh the challenges.''

Buhari, who was represented at the opening session by his Chief of Staff, Prof. Ibrahim Gambari, also declared that in spite of the global crisis fueled by the Ukraine-Russian war, the COVID-19 pandemic and insurgency in some parts of the country, Nigeria was on course to taking her rightful place in the global economy.

While attributing the country's success story to the implementation of reforms aimed at attracting foreign investments and sustained improvement in governance, he noted that the quarterly GDP growth in Q1 2022, was mostly driven by the non-oil sector, giving credence to the revenue source diversification agenda of government.

The president, however, acknowledged that more still needed to be done to improve private capital flows into Nigeria through foreign direct investments, financing of infrastructure, affirming that the administration was leveraging the Integrated National Financing Strategy to address this.

On growth driven by the non-oil sector, Buhari said: ''The agricultural sector, our most important, has remained resilient in spite of security concerns, low irrigation, limited inputs, and legacy infrastructure challenges, with strong food demand bolstering growth.

“Growth in manufacturing reflected stronger household and business consumption on account of the reopening of economic activities and improvement in supply chains. ''The present growth in our service sector is promising. Further privatisation, foreign investment, globalisation and competition will serve to stimulate growth and competition in the service sector and the economy as a whole.

''On the domestic front, the federal government is taking some bold, decisive and urgent action to address revenue underperformance, and improve our operations to make investment in Nigeria very attractive. ''Overall, the Nigerian economy is ripe for increased investment.

But on the contrary, private capital flows into Nigeria, consisting mainly of foreign direct investment, have slowed, hindering the financing of much-needed infrastructure and natural resource access projects.

Our administration is already working on innovative ways to restore these flows.”

The president told the international forum attended by the President of African Development Bank, Akinwumi Adesina and Florie Liser of the Corporate Council on Africa, among others, that a key strategy being adopted to improve infrastructure financing was the Integrated National Financing Strategy.

He explained that the strategy seeks to identify ways to expand the financing envelope of the Sustainable Development Goals in Nigeria, enhance the sustainable development impact of financing by seeking to integrate and align public and private financial policies, regulatory frameworks, instruments, and business processes with sustainable development.

Buhari added that the private sector would play a significant role in the strategy.

The president also mentioned other efforts by his administration to improve the nation's economic and development outlook, such as Nigeria's National Development Plan (2021 - 2025) and the Presidential Power Initiative.

On Nigeria's National Development Plan, the president stated that it was formulated against the backdrop of several subsisting development challenges in the country and the need to tackle them within the framework of medium and long-term plans.

According to him: ''This all-encompassing plan, aims to generate 21 million full-time jobs and lift 35 million people out of poverty by 2025, thus setting the stage for achieving the government's commitment of lifting 100 million Nigerians out of poverty in 10 years. ''To attain the objectives of the National Development Plan (2021 – 2025), we estimate that we would require an investment commitment

of about N348 trillion. Government capital expenditure during the period will be N49.7 trillion (14.3 percent) while the balance of N298.3 trillion (85.7 percent) is expected from the Private Sector. ''Of the 14.3 percent government contribution, FGN capital expenditure will be N29.6 trillion (8.5 percent) while the Sub-National Governments’ capital expenditure is estimated to be about N20.1 trillion (5.8 percent). ''The successful implementation of this Plan will, therefore, be heavily dependent on strong partnerships between the private and public sector, both within and with Development Partners outside Nigeria.''

Commenting on the nation's power sector, the president noted that his administration had recognised it as a major catalyst for Nigeria’s industrialisation, adding that in July, 2021, the 614-kilometre Ajaokuta-Kaduna-Kano gas pipeline project was launched to enhance energy security. ''Our administration also provided the sovereign guarantee for this vital infrastructure project. When completed, this project will drive industrialisation across the country. ''Furthermore, the first phase of the Presidential Power Initiative will provide over 40 million people with more reliable electricity supply, create 11,000 direct and indirect jobs for Nigerians. ''This will be from power system engineers to electricians and contractors, and this will in turn improve the standard of living while providing homes and businesses with constant, reliable, and affordable electricity supply. '' He recalled that at the commencement of his administration in 2015, N200 billion was paid for stranded power to service existing liabilities.

His words: ''Contract terms in Power Purchase Agreements were changed from 'Take or Pay' to 'Take and Pay.' Similarly, the Distribution Companies were made to use banks for bill collections – prior to this, Transmission Company of Nigeria (TCN) was getting only 50 per cent of proceeds. Now, TCN is financially viable and can invest in its own infrastructure.''

While wishing the forum successful deliberations, Buhari assured the participants that Nigeria was ready to consider the outcome of the deliberations

and recommendations to elevate the Nigeria project to its rightful place of magnitude.

NNPC, US Corporation, Exim Bank Seek Financing for Multibillion Gas Project Meanwhile, the NNPC said it has opened talks with the United States Finance Corporation and Exim Bank to seek financing for its multi-billion-dollar gas projects.

The Group Chief Executive Officer of the NNPC Limited, Mele Kyari, disclosed this at the Nigerian International Economic Partnership held in New York.

Kyari said: “Inclusion (in energy transition) means that we need to be supported. We are already talking to the US DFC, the EXIM so that they can give us financing and funding for our gas projects and this is very critical, so that we can have that flexibility to move forward and at the back of this.

“I’m sure some of you may be aware that today, we are getting a grant to build baseline carbon emission studies in our country by the United States Government and this is very helpful in the sense that Mr. President has also asked that we need to be supported. Currently, the major source of financing we are having is from the African Exim.”

Nigeria’s transition to net zero by 2060 requires enormous investments in gas projects which is the country’s transition fuel.

Kyari however said Nigeria was looking for opportunities to leverage on the enormous gas resources in the country to provide the possibility that is required for the energy transition.

It would cost $410 billion to transit, according to the federal government and huge gas projects like the recently signed Memorandum of Understanding (MoU) between the NNPC, ECOWAS Commission and Morocco to deliver pipelines along the African corridor would gulp billions of dollars.

“We are embarking on massive infrastructure and to see how we can deliver the Morocco gas pipeline which will pass through a number of countries to provide a number of securities including bringing people out of poverty and also an opportunity that are there that we are doing also in the domestic market, increasing more gasses in the domestic market,” he said.

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

PARTNERING INTERNATIONAL INVESTORS TO BOOST ECONOMY...

L-R: Chief Executive Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Engr. Gbenga Komolafe; Chairman, Nigerian Midstream and Downstream Regulatory Authority (NMDRA), Dr. Idare Dagogo, and Minister of State Petroleum Resources Chief Timipre Sylva, at the Nigeria International Economic Partnership Forum, in New York … yesterday

Sylva: Oil, Gas Industry Operators to Get 10-year Tax Vacation When PIA Takes Off Fully FG to inject 10m gas cylinders into circulation by end of 2022 Emmanuel Addeh in Abuja The Minister of State, Petroleum, Chief Timipre Sylva, said yesterday that when the Petroleum Industry Act (PIA) fully takes off, it will provide for a 10-year tax vacation for some oil and gas investors in the industry.

Speaking at the Nigerian International Economic Partnership Forum at the United Nations General Assembly (UNGA) in New York, the minister stressed that the PIA has provided for a smooth fiscal framework for operators in the sector.

Sylva, who spoke on the theme: ”Scaling Up International Economic Partnerships for Nigeria in a Post-Covid World" described the PIA as a watershed moment for the nation.

“The PIA 2021 has established a legal, governance, regulatory, and fiscal framework for the petroleum industry, host

community development, and associated matters.

“It provides fiscal certainty, improves regulations and incentives for investment, including up to 10-year tax vacations, while guaranteeing better take for both government and private investors, thereby balancing rewards with risk,” he noted.

According to the minister, in the past decades, the Nigerian oil and gas industry faced serious policy as well as fiscal and operational challenges, making reformation of the sector a priority of successive administrations.

These challenges, he said led to deferment of core investments, divestments, operational ambiguities, poor infrastructure, inadequate funding, and limited access to financing.

In addition, he explained that the absence of the right framework led to the

lack of funding for project decommissioning and abandonment, including poor environmental stewardship as well as insignificant direct benefits to resource hostcommunities.

Surmounting these challenges, Sylva noted, required strong determination to reform the industry in order to build a robust, thriving and resilient economic backbone for domestic growth in the era of global energy transition.

Sylva argued that Nigeria was already reaping positive results from the enactment of the PIA 2021, stressing that for example, existing and potential investors now have certainty on the regulatory regime, which were not available in the past.

"This has helped to clear one of the major challenges that held back the sanctioning of new projects," he noted.

The minister maintained that government has taken the

necessary steps to sustainably implement and operationalise the PIA 2021 within the timelines stipulated in the Act. To this end, the government, the minister added, has inaugurated the steering committee, which he chairs and is responsible for PIA implementation immediately after the PIA was signed into law.

He added that the law will also aid our energy transition plan through efforts to focus on natural gas, a much less CO2 emitting energy source, to power the country’s energy sufficiency.

“Natural gas remains our transition fuel, a viable and sustainable pathway to a clean energy transition, as it provides the energy needed for our growing population in terms of power generation, transport, feedstock for industries and clean cooking solutions.

“Our reforms focus

Report: Bankers Fleeing Nigeria’s Stagnating Economy as Brain Drain Worsens Emmanuel Addeh in Abuja Several workers in Nigerian banks are exiting the country, worsening the country’s brain drain crisis and raising training costs for Nigeria’s financial institutions, a new report

by Bloomberg has disclosed.

The widespread brain drain from Africa’s most populous country — popularly known as “japa”, which means “to run swiftly out of a bad situation” in the Yoruba language — is having a devastating effect on the financial sector, the report said.

Banks, already suffering from rising interest rates, higher operating expenses and threats of a spike in non-performing loans, are being forced to increase spending on training and recruiting, and in many cases lower their standards for new hires, it stated.

Better schools, higher salaries and more fringe benefits abroad, combined with a lack of local job security, is pushing mid- and early-career employees abroad,

it quoted a report released this month by the Chartered Institute of Bankers of Nigeria (CIBN) as saying.

Africa’s biggest economy has suffered through two recessions in the last six years. Soaring inflation, which hit a 17-year high of 20.5 per cent in August, has eroded household purchasing power and shrunk local currency salaries.

So skilled workers are turning to big western economies, where other Nigerians have built successful lives, particularly Canada, the United States and the United Kingdom, the report stressed.

The number of Nigerians who received UK work visas, Bloomberg said, rose to 15,772 for the year through June, from 3,918 in the year through December 2019, the last full year prior to the pandemic, quoting a report by the UK Home Office released last month.

Last week, Moody’s warned that higher inflation and interest rates could see non-performing loan

rates at Nigerian lenders spike.

But for the banks, the concern over asset quality is currently being overshadowed by employee flight.

“It is a reality and we are just ensuring that we are recruiting more than are leaving,” Chief Executive Officer of Access Bank Plc, Nigeria’s biggest bank by assets, Roosevelt Ogbonna, told Bloomberg by phone, without saying how many employees had left.

In a bid to fill the gaps, bankers are spending more time “training the existing workforce and equipping new graduates,” which may entail lowering the entry standards at some point, said Abubakar Suleiman, Chief Executive at mid-size lender, Sterling Bank Plc. “The opportunity is to hire smarter, train better and make banking more responsive to fill the vacancies,” he added.

The bankers’ union recommended offering remote work and modelling “the work

patterns and the work conditions of their staff against global practices.”

Ogbonna said Access Bank was looking beyond salary to create an environment that is “inclusive and conducive” to retain its workers, without elaborating.

In an interview, Francis Eze, a respondent said he spent nearly a decade at one of Nigeria’s biggest banks working for a salary far lower than the one he’d negotiated in his interview with the financial institution.

As a bachelor and then as a newlywed, he found a way to manage on a tighter budget, he added.

“His wife, a nurse, had long told him about colleagues at her hospital who had been recruited to move abroad but Eze wasn’t interested. Then with private school fees for two children coming due this year, the pair joined the flood of skilled Nigerians leaving the country amid a plummeting naira and a stagnating economy,” the report added.

encompass energy security, economic competitiveness, and a reduction of greenhouse gas emissions. Our abundant natural gas can conveniently meet all three priorities simultaneously.

“With over 200 Trillion Cubic Feet (TCF) of proven gas reserve, and a potential upside of up to 600TCF, the

most extensive in Africa, and among the top 10 globally, natural gas will be a major component of our energy mix for the foreseeable future,” the minister explained.

He emphasised that the ministry of petroleum resources Continued on page 8

Kaigama to Nigerians: Elect Competent, God-fearing President in 2023 Leaders must be accountable, says CAN Onyebuchi Ezigbo in Abuja The Archbishop of the Catholic Archdiocese of Abuja, Most Rev. Ignatius Kaigama has advised Nigerians not make the mistake of electing a mediocre as the next president of the country in the 2023 election.

Rather, he said the electorate should eschew religious or ethnic sentiment and vote for a candidate that is, "genuinely patriotic, experienced, competent and sincerely God-fearing."

Kaigama's advise came just as the President of the Christian Association of Nigeria (CAN), Archbishop Daniel Okoh said the church must begin to encourage persons with Christian values, right character, capacity and competence to participate in politics and take up public offices in the country in order to sanitise the system and guarantee good governance.

While declaring open the third Abuja Catholic Archdiocesan General Assembly at our Lady Queen Of Nigeria Pro-cathedral Garki, Abuja, yesterday, Kaigama said the next political dispensation should be about transparency, accountability and responsibility.

Speaking on the negative impact of religious and ethnic politics pervading the country, Kaigama said: "We must begin to take selfserving considerations off the table when it comes to politics! Merit over mediocrity is the only approach that will save our country, that is, when we elect leaders who are genuinely patriotic, experienced, competent

and sincerely God-fearing," he said.

Kaigama regretted that politics of bitterness, unhealthy personality clashes and manipulation had become deeply entrenched in the country, adding that inability to realise meaningful change in the socio-political and economic environment was as a result of the culture of corruption and very poor governance, coupled with untamed political, religious and ethnic sentiments.

"To reverse this unfortunate trend, there is the need for a complete change in the way we do politics. If the primary purpose of politicking is to win elections, then the justifiable end is to govern well.

"The political parties should, therefore, be forthcoming on how best they are to address the issues bedeviling our polity like insecurity, deteriorating public health and education, the current inflationary trends, resulting in high living conditions," he said.

Okoh who spoke on the theme of the third General Assembly: "Witness in Politics: The Role of the Catholic Faithful," said there was no better time to discuss the topic than now that the 2023 general elections is about five months away.

"In politics, Christians must occupy our space and participate as the light in darkness; resisting all forms of intimidation. In order to keep up with the tide of events, the CAN inaugurated a Political Strategy and Action Committee to encourage Christians to participate in politics amongst several other things.

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TOWARDS ACCELERATING SUSTAINABLE DEVELOPMENT GOAL 7...

L-R: Former US President, Bill Clinton, CEO and Special Representative of the UN Secretary-General for Sustainable Energy for All, Ms. Damilola Ogunbiyi, CEO BlackRock, Larry Fink and CEO of Unilever, Alan Jope at the Opening Plenary of Clinton Global Initiative’s Annual Event themed "Investing in Sustainable Prosperity, Connecting the UN, State Actors, and the Private Sector Towards Accelerating Sustainable Development Goal 7 - Affordable and Sustainable Energy for All" at the on-going 77th Annual United Nations General Assembly in New York...recently

Credit to Private Sector Reached N40trn in August Kayode Tokede The Central Bank of Nigeria (CBN) has put the total value of credit to the private sector as of August 2022 at N40.19 trillion,

which was a new record high.

The latest Money and Credit Statistics obtained on the banking sector regulator’s website revealed that credit to private sector year-to-date has gained

14.24 per cent compared with the N35.18 trillion recorded in January 2022.

So far in 2022, credit to private sector has added N5.01 trillion despite macro-economic

challenges facing the country.

The latest statistics however disclosed that credit to private sector gained 0.85 per cent month-on-month growth from N39.85 trillion in July 2022, to

ABP: CBN Mulls Triggering Global Standing Instruction to Compel Loan Defaulters to Pay Up Maize association rallies members James Emejo in Abuja The Central Bank of Nigeria (CBN) has warned that it may activate the Global Standing Instruction (GSI) against loan defaulters under the Anchor Borrower Programme (ABP).

The central bank explained that the idea became necessary in order to compel farmers who had accessed loans under the programme to offset their indebtedness to the bank after repeated appeals to them appeared to have fallen on deaf ears.

This was disclosed by the CBN Senior Manager, Development Finance Office, Port-Harcourt Branch, Mr. Celsus Agla, during a strategic meeting with maize farmers and stakeholders from the south-south and south-east geo-political zone in Port Harcourt, Rivers State.

Essentially, the GSI, which was introduced by the apex bank in 2020, seeks to among other things, promote a sound financial system in Nigeria, facilitate an improved credit repayment culture, reduce NonPerforming Loans (NPLs) in the banking industry, and watch-list consistent loan defaulters.

According to the CBN, “The GSI shall serve as a last resort by

a creditor bank, without recourse to the borrower, to recover past due obligations (Principal and Accrued Interest only, excluding any Penal Charges) from a defaulting borrower through a direct set-off from deposits/investments held in the borrower’s qualifying bank accounts with participating financial institutions.”

However, speaking while responding to submissions by the national and state leadership of the Maize Association of Nigeria (MAAN), Agla said as a last resort, the central bank may have to deploy the GSI to get the farmers to repay their loans.

The CBN’s position came against the backdrop of accusations that some farmers who accessed loans under the ABP were reluctant to repay their liabilities, and even mistaking the credit facilities for grants despite repeated interventions from the central bank that the intervention fund must be repaid to the bank.

Agla, nonetheless, pointed out that if the defaulters proved stubborn, the, “GSI is a system whereby if you have an account with any bank outside say Unity Bank and there’s money in that account; because your BVN is

attached to these loans if the GSI is triggered, the monies in those accounts can be collected to repay the loan to Unity Bank.”

Meanwhile, the association is currently engaging with maize farmers and stakeholders across the country on the ABP loan recovery initiative.

The dialogue was led by MAAN National President, Dr. Bello Abubakar, along with other officials.

He said the objective of the meeting was to review the impact of the loan on food security, deliberate on loan repayment strategies and the way forward for maize farmers.

Abubakar pointed out that despite the numerous gains so far recorded in the ABP implementation, there had been challenges particularly as some farmers across the country have misconceptions about repayment.

He said some of them mistook the loan for grants, adding that some farmers even acted as if they were surprised when asked about the repayment.

He also listed other challenges as late disbursement of funds, natural disasters namely floods, droughts, COVID-19, insecurity and political factor.

Abubakar said some

politicians created wrong impressions that the loan was from them and that it was free.

He added that these challenges had affected the performance of the loan repayment.

Nonetheless, he said the association would work with the central bank and private finance initiatives to deploy all legal means possible to get defaulters to repay their loans.

He added, “We have to make sure that we have taken all the necessary actions and measures to make the farmers who took these loans pay up” “So, that is why we decided to go round all the 36 states of the country starting with the South-South and South-East to come together and meet with our stakeholders so that we can discuss, deliberate and come up with a very concrete solution to this problem, what way do we go to ensure these farmers pay up these loans.

“We know there are some challenges but a loan is a loan, the loan is not a grant, the loan is not a subsidy, so, therefore, we must follow these farmers to the end and make sure they repay back the loan and that is why we are here.”

SYLVA: OIL, GAS INDUSTRY OPERATORS TO GET 10-YEAR TAX VACATION WHEN PIA TAKES OFF FULLY has launched the National Gas Expansion Programme (NGEP) to expand Nigeria’s domestic utilisation as part of the national gas policy, which includes the National Gas Flare Commercialisation Programme, as well as elevation of LPG as the fuel of choice compared to other competing fuels.

“With this programme, we have established a 20 million Cylinder Injection Scheme; 5-10 million of these are to be introduced in pilot states this year. We have also established an LPG Energy Fund in the order of $50 million, in its first phase, in partnership with

AFREXIMBANK. We have rolled out the autogas scheme with the aim of displacing PMS with CNG and LPG,” he stressed.

He noted that Nigeria has already embarked on an aggressive implementation of the nationwide gas infrastructure blueprint, constructing critical integrated gas pipeline system, including the AKK, across the nation.

“We are currently in partnership with the governments of Morocco and other West African countries, to construct a 7,000km gas pipeline to transport gas

along the Atlantic coast from Nigeria to Morocco, meeting the regional gas demand with plans to extend the pipeline to Europe.

“The plan for a Trans-Sahara pipeline to Algeria through Niger Republic, and eventually to Europe, is also on the horizon.

“Let me conclude by saying that the current state of global energy security affords key opportunities to develop Nigeria’s energy landscape and execute critical infrastructure projects that will position the country as a key global energy supplier,” he said.

PIA 2021, at full

implementation, Sylva noted, will create massive investment opportunities, improve transparency, attract investors, and reposition the Nigerian oil and gas industry for sustainable growth.

According to him, the PIA has set the foundation for a sustainable growth in the sector with the establishment of the Nigerian National Petroleum Company Limited (NNPCL), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

N40.19trillion in August.

However, an analyst at PAC Holdings, Mr. Wole Adeyeye explained to THISDAY that, “The increase in credit to private sector is not expected to create more jobs as businesses are facing the high cost of inputs, mainly driven by high inflation.

“Nigeria's inflation rate at 20.52 per cent in August 2022.

This shows that businesses will have to borrow more to produce (most times, below the maximum production level).

“Demand-pull inflation may create more jobs but unfortunately, Nigeria is witnessing cost-push inflation at the moment.”

On his part, the Vice President, Highcap Securities Limited, Mr. David Adnori, stated that the 0.85 per cent marginal growth in credit to private sector in August demonstrated how doubledigit inflation has affected

nominal demand for Naira by private sector businesses, given continuing rise in input cost and the usual burden of imported inflation.

He added that, “Since this nature of demand for money may not necessarily translate to improved productivity, it follows, therefore, that economy may not also benefit in terms of additional jobs or output growth. This is just evidence of the unstable state of the macroeconomic environment in Nigeria.”

The central bank data also showed that credit to government also appreciated by 40.9 per cent to N21 trillion in August, from N14.91trillion in January.

In addition, the statistics disclosed that currency in circulation dropped by 2.4 per cent YtD to N3.2 trillion in August from N3.29 trillion in January.

Tambuwal Now NGF Interim Chairman, Takes over Oct. 16 Chuks Okocha in Abuja

Chairman of Nigeria Governors’ Forum (NGF) and outgoing Governor of Ekiti State, Dr. John Kayode Fayemi, yesterday, at the National Economic Council (NEC) meeting, held in Aso Rock, Abuja, transferred power of the NGF to the Governor of Sokoto State, Hon Aminu Waziri Tambuwal.

Tambuwal has served as the vice chairman of the forum under Fayemi in the last four years.

Fayemi, who was only a few weeks ago elected the President of the Forum of Regional and State Governments in Saidia in the state of Casablanca, Morrocco, attended the NEC virtually from New York City, where he was currently attending the United Nations General Assembly meeting.

Tambuwal will be holding fort until May next year, when a proper election will be conducted among the governors.

Before making the announcement, Fayemi acknowledged the resultdriven output of the NEC and thanked his colleagues and other members of the council for their support, saying, "Yes, we may be occasionally troublesome, coming from the Forum of Governors, and we

do test your patience, but you have never really expressed any frustration with all our truculent questions and the insistence that the federation must be a true federation.”

The President of FORAF also did not forget to thank the Secretariat of the NEC and through the NEC, thanked the President and Commander in Chief of the armed forces, Muhammadu Buhari, for taking the resolutions of the NEC seriously by implementing them.

In his response, VicePresident Yemi Osinbajo said, the NGF chairman had taken the wind out of their sail, because he was “meant to, on behalf of the NEC, commend the Ekiti Governor and NGF Chairman’s informed and patriotic services to the council in the last four years and that was enhanced by your chairmanship of the NGF, admitting that the NGF has ensured that we move to a true federation, not just in words but in deeds as well.”

Osinbajo prayed that Fayemi’s services, both nationally and globally, to development, and to all of the good, which the nation and the global community deserve, will continue.

Fayemi will formally hand over Tambuwal on the October 16th.

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NEWS

US AMBASSADOR VISITS APC PRESIDENTIAL CANDIDATE...

L-R: US Ambassador to Nigeria, Mary Beth Leonard; APC Presidential Candidate, Bola Ahmed Tinubu, and US Political Counselor, Mr. Rolf Olson, during a courtesy visit to the APC presidential candidate at Abuja...yesterday

Report: African Central Banks Poised for Rate Hikes as Inflation Bites Harder Nigeria, S’Africa, others likely to tighten monetary policy

Emmanuel Addeh in Abuja with agency report Africa’s three biggest economies are poised to raise interest rates this week as well as next week while policy makers in several other countries stake out different approaches to navigate inflation shocks and bring prices under

control, Bloomberg reported yesterday.

The central banks of Nigeria, South Africa and Egypt are among six likely to tighten monetary policy in the days ahead, it said, while another six countries are set to pause as they assess the impact of previous hikes and relief measures to contain prices.

Topping the agenda would be the implications that weaker local currencies would have on the cost of imported goods, as aggressive rate hikes by the Federal Reserve and expectations of more to come boost the dollar.

The repercussions of Russia’s war in Ukraine and an anticipated downturn in Europe and China,

NEC Approves Measures to Mitigate Flooding Nationwide NEMA urges south-south states to relocate from flood-prone communities House seeks end to flood in Jigawa, Kano as scores die from disaster Deji Elumoye and Juliet Akoje in Abuja and Blessing Ibunge in Port Harcourt The National Economic Council (NEC) yesterday rose from its monthly meeting with a call on the 36 states to adopt measures to step up service delivery at the grassroots on how to mitigate flood disasters this season.

This was the highpoint of the NEC meeting presided over by Vice President Yemi Osinbajo at the State House, Abuja.

The media assistant to the Vice President, Laolu Akande, in a statement issued after the meeting said the Council received a briefing on flood management from the ministry of humanitarian affairs and disaster management and the National Emergency Management Agency He said the response strategy adopted by the NEC was the operationalisation of the NEMA call center, identification of equipment and personnel, emergency relief intervention: Food and non-food items to impacted communities, and compiling records of sudden onset disasters nationwide Consequently, the states decided to, “implement measures in the National flood emergency preparedness and response plan.

“Equip NEMA, SEMA, and other response agencies with necessary resources for the emergency response to communities and persons affected by flood “Strengthen states and LGAs institutions for flood preparedness, Mitigation, and Response, etc.

The NCDC also presented to NEC an update on COVID-19 and Monkey Pox.” According to the statement, for Covid-19, the Global caseload was stable, high burden of cases in 2021 is comparable to 2022 so far.

“Test Positivity Rate in Nigeria is 16.9% as at 36th week, No death in the past week, while six States returned no testing at all “Trends show that COVID-19 cases have increased by three per cent across the states & FCT. “It noted that the COVID-19 pandemic is not over."

The NCDC, therefore, urged the states to commit to more testing, including routine testing and frequent testing for health workers while also stressing the need for private health institutions to be encouraged to do more testing.

It stated that the situation report on Monkeypox showed 318 suspected cases in 30 states, and total death standing at seven.

Also, at the NEC meeting, outgoing Governor Kayode Fayemi of Ekiti State and Chairman of the Nigeria Governors’ Forum (NGF), lauded the vice president, saying with Osinbajo as NEC Chairman, the Council has done a lot to ensure that the country is a true federation.

Fayemi, on the occasion, said having served in previous NEC and longer than most current members, he can affirm that the VP's leadership has been outstanding, adding that the Council has never had the kind of leadership that Osinbajo has provided.

Continued online

alongside emerging price pressures from extreme weather events, are also likely to be in the spotlight.

Nigeria’s central bank was expected to step up monetary tightening after inflation hit a fresh 17-year high in August.

It threatens to remain elevated because of floods in its foodproducing regions, a surge in diesel costs and continued currency weakness, the report added.

Bloomberg quoted Central Bank of Nigeria Governor, Godwin Emefiele as saying at the July MPC meeting that policy makers could lean towards additional hikes if inflation continues to be “aggressive.” An increase in the benchmark would take it over 14 per cent for the first time since the rate was adopted in 2006.

The central bank, “may feel there is still some scope to raise rates in order to attract foreign exchange inflows,” said Joachim MacEbong, lead analyst at Lagos-based Acorn and Sage Consulting. “Inflation remains a serious concern,” he added.

In South Africa, worries over unanchored inflation expectations and increased depreciation pressure on the rand will probably see the country’s Reserve Bank raise its key rate for a sixth straight meeting, said Sanisha Packirisamy, an economist at Momentum Investments.

All the economists polled by Bloomberg said they expected the MPC to raise its benchmark to

6.25 per cent from 5.5 per cent, in what would be the first time it hiked rates by 75 basis points at consecutive meetings.

In the same vein, economists surveyed by Bloomberg are divided over what Egypt’s central bank will do at its second meeting since Hassan Abdalla became acting governor after Tarek Amer’s shock resignation.

While a minority of forecasters predict the benchmark deposit rate will stay at 11.25 per cent for a third meeting, most see an increase of 50 to 100 basis points to curb annual inflation that hit its highest level in almost four years.

A hike would also make the North African nation’s assets more attractive after months of quickening price gains turned its rates negative when adjusted for inflation, undercutting the appeal of the country’s domestic bonds and bills to foreign investors. The country has seen some $20 billion in foreign outflows from its local debt market this year.

In Ghana, stabilisation in the cedi since mid-August will probably see policy makers in the country stand pat or stick to existing rates. The currency has plunged 39 per cent against the dollar this year, sending inflation to its highest level in more than two decades At an extraordinary meeting last month, the Bank of Ghana raised its key interest rate by three percentage points, adding to 550

basis points of increases since November. It also announced measures to boost foreignexchange reserves and support the cedi.

In Angola, a downswing in inflation will likely see rate setters in the country, which vies with Nigeria as Africa’s biggest oil producer, cut borrowing costs, making it an outlier at a time of global monetary tightening, Bloomberg said.

Price growth has already dropped below 20 per cent for the first time in more than two years and the central bank forecasts it will slow to less than 18 per cent by the end of the year.

Morocco hasn’t raised interest rates for more than a decade, and it might keep bucking the global trend for monetary tightening, the report said.

With wage hikes for lowerearning households kicking in this month and subsidies due to offset energy costs for consumers, authorities may wait to see the impact on inflation, which is running at its highest since the 1980s.

For Kenya, in the first rate decision since William Ruto was sworn in as president, policy makers will likely look past inflation even though it’s been above the central bank’s 7.5 per cent ceiling since June.

Kenya’s MPC sees price pressures easing, probably allowing it to extend a pause for a second straight meeting.

Tinubu to Bishops: My Intention is to Develop Nigeria, Not Religiosity We're not committed to endorsing anybody, says clerics Adedayo Akinwale in Abuja The presidential candidate of the ruling All Progressives Congress (APC), Mr. Bola Tinubu yesterday told members of the Pentecostal Bishops Forum of Northern Nigeria that his intention was to develop Nigeria, stamp out hunger and not religiosity.

Tinubu stated this in Abuja, while addressing the Bishops, explaining that his choice of running mate was beyond religion.

The presidential hopeful said he has always been a friend of

the Christian community and he should be considered based on his track records, plans and agenda for developing Nigeria.

Tinubu noted that his plans was to improve the fortunes of Nigeria and to also mend fences across religious and ethnic lines in the country.

"How will Nigeria develop?

How do we banish hunger? How do we improve the insecurity and how do we eliminate killing one and other, shedding of blood of innocent citizens? That is what we must take to the office and

not our religion.

"My intention is clear. Not religiosity. My intention is to develop this country, to bring prosperity to our country and I have better qualifications, better track record, better exposure, better vision than any of my mates."

He reiterated that his choice of Senator Kashim Shettima as a running mate was based on competence, capacity and fairness.

Tinubu added: "When the shortlisted names came, I looked at the characters on the list, their

background and everything and here is somebody (Shettima) who is so brilliant, so committed, who, during the crisis in Borno protected Christians."

He then urged all Nigerians to shun religious sentiment and develop intellectual inclusiveness.

In his remarks, the Chairman, Pentecostal Bishops Forum of Northern Nigeria, Archbishop John Praise said the Christian body was not committed to endorsing any candidate ahead of the 2023 elections.

He stated: "We are not

committed to endorsing anybody, but you should ask your conscience and from what you have heard and from the explanation, he (Tinubu) has given to us to make your own judgement of who will better rule and handle the country."

On her part, a chieftain of the ruling party, Senator Grace Brent from Adamawa State expressed optimism that the presidency of Tinubu would usher a new dawn for the body of Christ in the country in general and northern Nigeria in particular.

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NEWS

COURTESY VISIT BY THE TURKISH AMBASSADOR TO THE HEART BEAT OF NIGERIA...

L-R: Edo State Governor, Mr. Godwin Obaseki; Turkish Ambassador to Nigeria, Hidayet Bayraktar, and his wife, Fusun Bayraktar, during the a courtesy visit by the Turkish Ambassador to the Government House in Benin City... yesterday

IGP Condemns Alleged Assault on Female Police Officer, Orders Prosecution of Suspect, Others You are exhibiting nonchalant attitude towards officers’ plight, Senator tackles Police boss Kingsley Nwezeh and Sunday Aborisade in Abuja The Inspector-General of Police (IGP), Usman Baba yesterday strongly condemned the grievous assault of a female police officer, Inspector Teju Moses by her principal, Prof. Zainab Duke Abiola, who is a legal practitioner and human rights activist as well as her domestic staff.

Her staff included her housemaid, one Rebecca Enechido and a male suspect presently at large.

A statement by Force Headquarters stated that Abiola, an Mbaise, Imo State-born activist

allegedly, grievously assaulted her orderly in company of some accomplices on Tuesday 20th September, 2022, at her residence in Garki, Abuja, due to the refusal of the orderly to breach professional ethics by carrying out menial and domestic chores at her house.

It stated the IGP directed the express prosecution of the arrested suspects, who are in police custody as the preliminary investigation showed overwhelming evidence of culpability on the part of the professor and her domestic staff.

The police chief also tasked the investigative team to ensure that the fleeing suspect was arrested

Pay Per View Difficult for Cable TV Operators, MultiChoice, Others Tell Senate TSTV, Startimes say pay per day, possible, profitable Deji Elumoye and Sunday Aborisade, Abuja Stakeholders including a major cable television firm in the country, MutiChoice Nigeria, yesterday told the Senate that the pay per view model being canvassed in some quarters, as against the current monthly billing, was not feasible.

They made their submissions at a one-day public hearing organised by the Senate adhoc Committee investigating Pay-tv hikes and demand for the pay-per view subscription model in Nigeria.

The panel was chaired by the Senate Deputy Whip, Senator Sabi Abdullahi, and have as members, Senators Michael Nnachi, Suleiman Abdul Kwali, and Abba Moro, who moved the motion for the upper chamber to probe the incessant price hike by cable television operators.

In his presentation, the Chief Executive Officer, MultiChoice Nigeria, John Ugbe, said several legal and legislative moves made to compel the firm to operate per view model did not work because it was not feasible.

Ugbe said, "Whilst it may appear to be a noble intent for this Committee to be concerned over the rising cost of subscription services; however, the Pay-Per- View (PPV) model being canvassed by this Committee will not work either to the benefit of the consumer or the industry.

"It would appear that this problem is because of some confusion in understanding the basic definitions and distinctions between some of the existing operational business models in telecommunications and pay-tv broadcasting.

"A pay per view PPV is Not the same, and is Very different from Pay-As-You-Go (PAYG).

"The PPV model allows a subscriber to watch some special one-off events, usually of the high-ticket variety in sports and entertainment, by paying for such events in addition to having an active subscription.

"Pay-As-You-Go, accommodates a metered mode of service, where consumers are billed only for the service they consume and not for a fixed period.

"The desire by this Committee to adopt PPV is further challenged by the nonexistence of any technology that can detect and or determine the viewers are tuned in per time.

"Once it is impossible to have this knowledge, billings based on “per view” become difficult if not almost impossible.

"It is therefore my humble submission to this distinguished committee that due to the nature of content acquisition and technological limitations that PAYG model is not practical for broadcasting and thus is not practiced and basically cannot be implemented anywhere in the world."

and made to face the wrath of the law.

A video clip showing the officer in uniform bleeding, seated on the floor, and asking to be taken to the hospital for medical attention has since gone viral.

"It is pertinent to clarify that the suspect, Prof. Zainab, who name-drops the IGP, his family members, and other officers in the top hierarchy of the force has no acquaintance with the police in any form as erroneously peddled on social media.

"The Inspector-General of Police who similarly ordered the withdrawal of all police personnel attached to the professor, expressed consternation at the fact that an individual who claims to be an advocate for human rights could stoop so low to violate the rights of another individual, a police officer tasked with ensuring

her protection", he said.

Meanwhile, the Vice Chairman, Senate Committee on Customs and Excise, Senator Francis Fadahunsi, has accused the IGP of not showing serious concern to the plight of policemen constantly being assaulted or killed by individuals and gang of criminals in recent time.

Fadahunsi, who is representing Osun East Senatorial District in the National Assembly, stated this in an interview with journalists in Abuja.

He expressed regret that the morale of the policemen across the country is currently low because they knew that the police authorities would not do anything if they sustain injury or die in the course of duty.

He challenged the IGP to wake up to his responsibilities of protecting the personnel under

him.

Fadahunsi said the series of attacks and killings of policemen across the country without any drastic action against the perpetrators.

He said, "The morale of the police personnel is low these days because the authorities are not showing much concern to their welfare.

"Criminals are just killing policemen like chickens all over the place and the Inspector General of Police is not talking or taking drastic actions.

"The danger in this is that if the trend continues, it means that we would consistently rely on the military to maintain internal security.

"We cannot continue like this.

The IGP and his authorities should wake up and make sure that he guarantees adequate protection of

all the policemen in the country."

He added: "The IGP's nonchalant attitudes towards the welfare of the officers and men of the Nigeria Police Force is dampening their morale. That is why they run away whenever they sight the hoodlums armed with pump action guns.

"The Police is the head of the internal security, the IGP should wake up to his responsibilities.

"There is also the need to decentralise the Nigeria Police Force so that there would be efficiency in their activities because crimes are being committed.”

Some policemen who accompanied the convoy of the Senator representing Anambra South, Ifeanyi Ubah, were brutally murdered recently while the police authorities had yet to make any strong pronouncement that could deter similar occurrences in future.

ICPC: Increasing Illicit Financial Flow, Diversion of Public Funds, Cause for Concern Says FG can generate internal revenue to fund budgets Sunday Aborisade and Udora Orizu in Abuja The Chairman of the Independent Corrupt Practices and related offences Commission (ICPC), Prof.

Bolaji Owasanoye yesterday expressed concern over the increasing trend of illicit financial flow, budget padding and diversion of public funds in the country.

Owasanoye, who made this known in Abuja, while presenting his keynote address during a workshop organised by the House of Representatives Committee on Anti-corruption, in collaboration with the Konrad Adenauer Stiftung (KAS) on the theme: "Corruption as Threat Security in Nigeria," stressed the need for corruption to be confronted headlong.

He opined that corruption accentuated political patronage, encouraged sabotage of governance, and that funds appropriated on paper, were never used for the purpose for which they were meant.

He warned that if citizens did not deal with the issues of

corruption, it would further impact negatively on the country.

He, however said Nigeria has enough laws and regulatory frameworks to address the issues of corruption, but that hypocrisy remained the greatest obstacle to the fight against graft.

He noted that the Central Bank of Nigeria, Bureau of Public Procurement and the Federal Competition and Consumer Protection Commission, are all anti-corruption gate keepers.

"We're not in short supply of anti-corruption legislations. There are many laws that many do not recognise as anti-corruption frameworks; that are not ICPC, EFCC, or Police or NAPTIP or NDLEA. “The Bureau of Public Procurement is an anti-corruption gatekeeper, the CBN is an anti-corruption gatekeeper, the Infrastructure Concession and Regulatory Commission, ICRC is an anti-corruption gatekeeper...I could go on, many of them like that, if you aggregate them, you would get like about 50.

"Most regulatory bodies also play anti-corruption role.

Virtually, all professions are regulated and every unethical practice that is carried out by these professionals is already prohibited by their rules, so we are not in short supply of anti-corruption institutions but what we are in short supply of is integrity. We have a generous supply of hypocrisy, and we also deceive ourselves," he said However, Owasanoye has said money to fix Nigeria was within the country. The ICPC boss lamented that the monies were being stolen on daily basis, a development he said, was worsening corruption in the country .

Owasanoye stated this in Abuja as Guest Speaker at a two - day capacity building workshop organised for members of the House of Representatives Committee on Anti - Corruption and Military Officers. The forum was organised, by the National Institute for Legislative and Democratic Studies (NILDS).

The ICPC boss said about N24 trillion electronic transactions took place in the country between January to June this year.

He said the country records electronic transaction of about N50 trillion annually.

He noted with concern that corruption in Nigeria was highly systemic or malignant and that it was being carried out in most of the government owned agencies , particularly the revenue generating ones.

He said the ICPC intercepted N181 million from 19 of such agencies, which was to be diverted or stolen by corrupt public officers between January and June this year.

He said, "If corruption is fought to standstill by all relevant agencies and public officers, it will be discovered that the money to fix Nigeria, is in Nigeria and not elsewhere because we monitored N24 trillion electronic transactions alone among Nigerians within Nigerians from January to June this year, which runs to about N50 trillion yearly.”

Earlier, the Speaker of the House, Hon. Femi Gbajabiamila, who declared the event open, said tackling corruption goes beyond just lawmaking.

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POLITICS

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

Tourism As a Tool for Enriching Ogun’s Economy and Politics Oluwaseun Boye writes on moves by Ogun State government to use tourism for economic as well as political development of the gateway state

T

ourism can be described as the act and process of spending time away from home in pursuit of recreation, relaxation, and pleasure, while making use of the commercial provision of services.

According to Wikipedia, tourism means to travel for pleasure or business; also it is the theory and practice of touring the business of attracting, accommodating, and entertaining tourists, and the business of operating tours.

World tourism organisation on the other hand defines tourism beyond the common perception of tourism as being limited to holiday activity only, it describes it as people “travelling to and staying in places outside their usual environment for not more than one consecutive year for leisure and not less than 24 hours, business and other purposes”.

As such, tourism is a product of modern social arrangements, beginning in Western Europe in the 17th Century, when young nobles from western and northern European countries made what was called the Grand Tour: a trip around Europe (usually covering France, Germany, Italy and Greece) with the main purpose of soaking up history, art and cultural heritage, It was considered a perfect way to be educated.

By the 18th Century, this custom was widespread among wealthier classes and it spread to other parts of the world, such as America. Similarly, religious pilgrimages that were already popular during the Middle Ages continued during this period.

By and large, every 27th of September was earmarked to celebrate World Tourism Day to foster awareness among the international community of the importance of tourism and its social, cultural, political and economic value.

World Tourism Day was designated by the World Tourism Organization (UNWTO) in September 1979, while the commemoration commenced in 1980. This date was chosen to coincide with an important milestone in world tourism: the anniversary of the adoption of the UNWTO Statutes on 27 September 1970.

Every year, the day is set aside to encourage people to travel, as a way to enrich lives, which is crucial for countries’ economy and politics. Tourism is the best way to broaden horizons and expand knowledge of other cultures, encouraging people to be more acceptable and sociable among themselves.

Because of this, World Tourism Day’s aim is also to raise people’s awareness about how travel and tourism need to be made more accessible for everyone.

The theme for this year’s celebration has been tagged “Rethinking Tourism“.

It is geared to inspire discussions around rethinking tourism for development, which includes terms of education and employment, and discussions about the impact of tourism on the sustainability of the planet and various opportunities that can develop sustainably.

The importance of tourism in any economy cannot be overemphasised, it is a vital ingredient for the success of many economies around the world. Apart from the fact that tourism boosts the revenue of the economy, it creates thousands of jobs, develops the infrastructures of a country, and plants a sense of cultural exchange between foreigners and citizens.

The number of jobs created by tourism is highly significant.These jobs are not only a part of the tourism sector but it also include the agricultural, communication, health, and the educational sectors. Many tourists travel to experience the hosting destination’s culture, different traditions, and gastronomy.

This is very profitable to local restaurants, shopping centers and malls.

Today, tourism has become a part of people’s lifestyle especially in the developed countries of the world. It is essential to help fight against stress that leads to some

In Nigeria today, tourism has become a national binding force.

According to the Managing Director/ CEO of the Nigeria Export Processing Zones Authority, (NEPZA) Prof. Adesoji Adesugba, during his presentation at the the fifth edition of the National Tourism, Transportation Summit and Expo held in April, 2022 with the theme: “Strengthening Connectivity Effects and Partnership; Leveraging the African Continental Free Trade Area, AFCFTA” stated that tourism contributed 0.3 percent to two percent of the country’s total Gross Domestic Product, GDP. He said “Over the years, tourism has contributed $1.5 billion to the Nigerian economy, which was scarcely 0.3% of the total GDP. In 2020 this value dropped, largely due to COVID-19 Pandemic. Tourism presents economic, social and technological opportunities for Nigeria. Economically, it serves as a channel for foreign reserves and investment in the economy, which by extension, leads to GDP growth and economic diversification. Socially, tourism serves to promote tolerance.”

In Nigeria, an increase in tourism could be a uniting force.

Technologically, as demand increases, the sector will be forced to evolve the technology it employs. This would enable those who work in tourism to be able to serve more people, reduce human errors and increase efficiency. forms of terminal ailments. According to health experts, people take less vacation, work longer days and retire later in life.

All of these factors combined provide for a perfect “stress” storm. Taking time away from the job can have physical and mental

health benefits. People who take vacations have lower stress, less risk of heart disease, a better outlook on life, and more motivation to achieve goals, so going on vacation or getaways help relieve stress and make people get refreshed from mental stress.

-Boye writes from Abeokuta NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Time for New Approach to Governance in Abia Kevin Oji writes about the urgent need for Abia State indigenes to take interest in turning round the fortune of the state

T

he over two decades rule of Abia State by the People’s Democratic Party (PDP) reads like a parchment of corruption and scroll of iniquities. For a state which produced the legendary M.I. Okpara, JOJ Okezie, Bob Ogbuagu, among other leading lights that illuminated our political landscape with their profound leadership qualities, the current state of affairs in God’s own state is indeed a sad commentary and debasement of selfless service, a triumph of a cotorie of self serving leaders.

In 1999, the Fourth Republic birthed with huge expectations and high hopes that the unfurling of the Abia possibility on the shoulder of the creative and entrepreneurial ingenuity of the Aba commercial hub, the epicentre of commerce in the south east would become a reality and spark in the process, an economic revolution that would propel the eastern region into the commanding heights of our national economy.

As political activities gathered steam during the 1999 electioneering campaigns, various political parties made mouth watering promises on the campaign trail.

Abia State broke for the Peoples Democratic Party (PDP) and has been so ever since.

From 1999 to date, the party has produced all the governors who ruled the state; Senator Orji Uzor Kalu (1999-2007); Senator Theodore Orji (2007-2015) and Dr. Okezie Ikpeazu ( 2015-date).

20 uneventful years down the line, the hope of the emergence of a state with shared prosperity and progress has evaporated. Today, hope has been replaced by despair, frustration and gloom.

Under the PDP, citizens standard of living has been eroded to unacceptable level.

Businesses in Aba and across the state have been ruined by successive state governments who failed to provide the enabling environment for businesses to thrive. As a result of the lack of vision and capacity, businesses have moved to other states.

Unprecedented unemployment has ravaged the population and inflicted poverty and unimaginable hardship on the people.

According to the data released by the National Bureau of Statistics (NBS) in 2019, 40.1% of the Nigerian population were classified as poor.

In practical terms, four out of 10 individuals in Nigeria has real per capita expenditure below 137,430 naira per year for the year under review. This translates to over 82.9million Nigerians classified as poor. This data excluded Borno state, the epicentre of a deadly insurgency.

In 2018, a data released by NBS showed

that Abia state had the fourth highest unemployment rate of 31. 6% in Nigeria with youth unemployment almost double that rate.

The data released in 2020 makes grimmer reading and reveals a further deterioration in the state of affairs in the state.

The NBS data revealed that Imo state had the highest unemployment rate of 56.64% in the entire south east closely followed by Abia state at 50.07% .

This abysmal performance has impacted all facets of life in the state with all development indicators trending on negative territory.

There is no sector in the state that is immune to the misrule of the PDP state admnistration.

At the onset of the present admnistration, Dr. Okezie Ikpeazu promised so much but in actual fact, he has delivered so little.

He stated that his priority was the development of Aba, the economic and industrial hub of the state. More than seven years down the line, his promise is still a pipe dream. Instead of transforming Aba, he has instead supervised the deterioration of critical infrastructure within the metropolis defined by craters on major road arteries; the stench from abandoned refuse has become one of the permanent fixtures of the city’s environment.

Whenever there is a heavy downpour, large portions of the famous Ariaria market is usually submerged by flood.

-Oji, writes from Umuahia NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

19

T H I S D AY ˾ FRIDAY SEPTEMBER 23, 2022

POLITICS

‘Ilaje Communities are in Ondo, not Ogun’

New York Drops Bombs on the Trumps

Ondo State government has clarified that Irokun, Obinehin, Idigbengben and Araromi seaside communities are in Ondo and not Ogun State

Chido Nwangwu writes about the furore generated by the law suit instituted by New York Attorney General, Letitia James, against former US President, Donald Trump, over allegations of fraud

I

t was Carl von Clausewitz, the famous German military theorist, who brought forward his remarkable definition of war as “the continuation of politics by other means.”

At a press conference, Wednesday, Sept. 21, 2022, the New York Attorney General Letitia James, metaphorically, dropped bombs on former president Donald J Trump, Trump Organization and three of Trump’s children.

James and Trump have been fighting this war for a while. This time it was brought probably closer to the attention of Americans and the global business community. It was a press conference for a lawsuit, with more than 200 instances of fraud covering 10 years, and showing investigations and evidences, as claimed.

James’ office details what it says are Trump’s efforts to inflate his personal net worth to attract favorable loan agreements and alleges claim to have many evidences of wrongdoing by Mr. Trump and his cohorts! In a short sentence, it seems, we’re witnessing “the continuation of politics by other means.”

James counts among the most influential public officials in the United States, currently. She does not minimize or hide her ideological banner as an activist liberal.

James, an African-American woman, has become Donald Trump’s lost nightmare! Interestingly whenever she speaks about Donald Trump’s business methods and politics, you can tell she has a severe disdain for almost anything Trump! She is also a politician who goes through election fights.

She insists she’s just following the law and track of investigations into Mr. Trump’s businesses and alleged shenanigans. New York like fighters! Letitia James I have noticed for a number of years has shown that she’s a fighter. Especially for the progressive wing of the Democratic party in New York and parts the United States.

It is basic political positioning and strategy that if you can defeat a major social fugure and political juggernaut such as the bombastic Trump, be it in New York, Saskatchewan or Burundi, it’s a big deal!

Moreso, if she proves her case against the former President of the United States and consequently take down Mr. Trump, in the realistic but twisted ways, a lot of political advantages will come her way.

She’s suing Trump & Co and charging them for large-scale business fraud, including inflated values of its properties in order to use same to seek bank loans or deflated them to pay less in taxes.

James cites, for example, Mar-aLago, the suit alleges was valued at $739m. James’ office said it should have been around $75m, and is sending a criminal referral to the IRS and U.S. prosecutors in Manhattan.

She alleged “With the help of his children and senior executives at the Trump Organization, Donald Trump falsely inflated his net worth by billions of dollars to unjustly enrich himself and cheat the system.”

Trump has also attacked the New York AG-led investigation as a politicized “witch hunt…. She is a fraud who campaigned on a ‘get Trump’ platform, despite the fact that the city is one of the crime and murder disasters of the world under her watch!”

I bombed the key claims of the lawsuits against Donald Trump is that he allegedly “repeatedly and persistently manipulated the value of assets to induce banks to lend money… on more favorable terms than would otherwise have been available to the company.”

Like I stated here, not long ago, it was the incisive American journalist, the late Ambrose Bierce who defined politics as “A strife of interests masquerading as a contest of principles. The conduct of public affairs for private advantage.” I note, as a matter of claim, that Trump has alleged same against Letitia James!

He has gone as far as painting the investigation and allocations against him as self-serving for James! Trump has also called James a “racist.”

New York AG James stated that: “For too long, powerful, wealthy people in this country have operated as if the rules do not apply to them.

Donald Trump stands out as among the most egregious examples. Trump thought he could get away with the art of the steal but today that conduct ends.” But I must say that Trump is a cat with nine lives!

The billion dollar question is whether the master of blustery language, the giddy, former face of New York bring his tattered but artful bag of legal technicalities to outwit New York’s Attorney General.

Or has Trump, finally, come up against a rock, a hardplace and a very tough Black woman? It will be quite ironic and interesting if….

-Nwangwu is Founder & Publisher of the first African-owned, U.Sbased newspaper on the internet, USAfricaonline.com Follow him @Chido247

O

ndo state Commissioner for Information and Orientation, Mrs. Bamidele Ademola-Olateju, has disclosed that Irokun, Obinehin, Idigbengben and Araromi communities are within Ilaje Local Government Area of the state.

She also clarified that these Ilaje seaside communities are not subject of dispute before the National Boundary Commission, adding that the Independent National Electoral Commission (INEC) has always conducted elections there as part of Ondo State.

The Commissioner in a release issued in Akure said:”The press statement issued by Ogun State Government, based on the recent white paper issued by Ondo state, recognizing the traditional institutions of IROKUN , OBINEHIN, IDIGBENGBEN and ARAROMI seaside, has been brought to the attention of the Ondo State Government. The Government has decided to respond as follows in order to set the records straight.

“Irokun, Obinehin, Idigbengben and Araromi seaside are communities within Ilaje Local Government area of Ondo state. These communities have a long history of traditional institutions within

“It is on record that the communities in question have been in a festive mood since the announcement by Ondo state Government to recognize their traditional institutions. There is no threat to peace in these communities. We urge our people to continue to live harmoniously among themselves for the development of our dear sunshine state.”

the state.

“These communities are not in dispute between Ondo State and Ogun State as the people living therein are indigenes of Ondo State. In addition, the landmass occupied by these communities falls within the territory of Ondo State of Nigeria.

“The claim that these communities are in dispute before the National Boundary commission is untrue, as the communities are within Ilaje Local Government of Ondo state. Federal institutions like Independent National Electoral Commission (INEC) regularly conducts elections in these communities and votes cast are recorded for Ilaje Local Government of Ondo state.

“The recognized traditional institutions in these communities are integral parts of traditional institutions in, and of Ilaje Local Government area of Ondo state and the traditional rulers are indigenes of Ondo State.

“Ondo state Government in the recent White paper issued on Justice Ajama Commission, avoided consideration of request for recognition of traditional institutions from communities where there are land disputes and communal conflicting claims, pending the resolution of such disputes.

“It should be noted that the traditional institutions of these communities, submitted memoranda and appeared publicly before Ondo state Hon. Justice C.E.T Ajama commission of Enquiry on Chieftaincy matters, set up by Ondo State as far back as 2015 without any opposition from any quarter, including the Government of Ogun State. It is surprising that the Government of Ogun state is trying to claim ownership, after Ondo state Government has accepted the recommendation of the said Commission.

“While the Government of Ondo state is not averse to discussions on this matter as requested, we however urge our brothers in Ogun State to check their records properly on issues raised in their Press statement.

“It is on record that the communities in question have been in a festive mood since the announcement by Ondo state Government to recognize their traditional institutions. There is no threat to peace in these communities. We urge our people to continue to live harmoniously among themselves for the development of our dear sunshine state.”

20

FRIDAY SEPTEMBER 23, 2022 •T H I S D AY

FRIDAY SEPTEMBER 23, 2022 • T H I S D AY

21

22

FRIDAY SEPTEMBER 23, 2022 •T H I S D AY

T H I S D AY ˾ FRIDAY, SEPTEMBER 23, 2022

23

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

S E P T E M B E R T S & P INDEX

2 2 , 2 0 2 2

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

10.25%

INDEX LEVEL

613.31%

1/4 TO DATE

-0.85%

N416.86/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

9.56%

1-DAY

0.16%

YEAR TO DATE

7.64%

*AS AT LAST FRIDAY

3-MONTH

10.52%

MONTH-TO-DATE

0.44%

In Dire Need of Funds to Import Equipment, Offer Services, Aviation Agencies Move to Stop 25% Annual Remittances to FG Chinedu Eze Worried about the further depreciation of the naira, which is affecting the cost of providing services, training and equipment importation, Aviation agencies are protesting against the 25 per cent annual remittances to the federal government, insisting that such money could address their needs.

The agencies, which comprises of the Nigerian Civil Aviation Authority (NCAA), the Federal Airports Authority of Nigeria (FAAN) and the Nigerian Airspace

Management Agency (NAMA), said they needed the funds, especially now that cost of providing services has increased, adding that the further depreciation of the naira calls for higher demand of funds for the acquisition of equipment from overseas and also for international training.

THISDAY investigation revealed that annually, the agencies pay over N10 billion to the federal government and this became effective since President Muhammadu Buhari’s administration, even though the

policy had been there before, and its implementation overlooked by past governments.

The payment is 25 per cent upfront in lieu of operating surplus, which means that the federal government assumes that the agencies will make surplus revenue and therefore deducts 25 per cent of the revenues that accrue to each of the aforementioned agencies.

“The system is already programmed so that whatever thing you get 25 per cent is deducted from it and it goes to the government from January to December every

year and this varies from year to year because the agencies do not make the same revenue every year,” a senior official of one of the agencies explained to THISDAY. The agencies complained that while government takes the 25 percentage of revenue from them, there are many critical infrastructure that are lacking at the agencies, which they do not have the resources to provide or upgrade existing ones. They said if they were not remitting that huge amount to government yearly, it would help them to acquire such

critical equipment, pay for training and also improve the welfare of their staff.

An official of NAMA told THISDAY that the agency uses its internally generated revenue (IGR) to run the agency, acquire aeronautical and other equipment, buy generators, power them and buy diesel to provide power to all its installations all over the country that operate for 24 hours on a daily basis.

“We provide everything we need from our IGR and also use it to pay salaries. Recently we were able to

improve our communication system at our upper airspace so that over fliers; that is, international flights that cross our airspace to other destinations pay us for using the communication system we provide them. With the improvement in the communication in the upper airspace, there are no more blind spots and we expect to boost our revenue because flights that used to circumvent our airspace because there was no communication, now fly through it and pay us charges.

Continued on page 30

AWARDS OF EXCELLENCE…

L-R: Managing Director, Telegraph Newspaper, Ayo Aminu; Executive Editor, Upshot Media, Mojeed Jamiu; Group Head, Media and External Relations, UBA, Ramon Nasir; Head, External Relations, UBA, Omede Odekina and Business Development Manager, The Nation, Lawrence Olasorun during the celebration of ‘Leadership Award in CSR’ presented to PHOTO: ABIODUN AJALA United Bank for Africa Plc at the Marketing Edge Brands and Advertising Awards of Excellence in Lagos... recently

Agusto & Co: Renewable Energy Will Attract $472bn Investment in 2022 Eromosele Abiodun As the net-zero carbon emissions ambition of world leaders is accelerating the global shift away from hydrocarbon-based energy sources, $472 billion will be invested in renewable energy in 2022, 44 per cent more than the $326 billion in 2017, a report by Agusto & Co has revealed.

According to the International Energy Agency (IEA), renewables will account for about 95 per

cent of the increase in worldwide power capacity by 2026, with solar photovoltaics (PV) alone accounting for more than half of the anticipated expansion.

“Many governments are making sustainable investments a strategic thrust and are using policies and incentives to drive innovation in renewable energy technologies. As a result, Agusto & Co anticipates that the world’s capacity to generate electricity from solar panels, wind turbines, and other renewables will

grow significantly in the next few years, “the report stated.

Nigeria, the report added, is not excluded from this pursuit of carbon neutrality, being one of the 195 nations that are party to the United Nations Paris Agreement – a pact that seeks to combat climate change by reducing greenhouse gas emissions.

“In addition, Nigeria has undertaken to cut its greenhouse gas emissions by 20% between now and 2030 and to attain net-

zero emissions by 2060. However, Agusto & Co is of the opinion that Nigeria’s aspirations are rather lofty considering that the country is still grappling with inadequate electricity supply from the national grid as unmet demand is estimated at approximately 20,000 megawatts (MW). With rapid industrialisation, population and income growth, this supply gap is expected to widen.

“The challenges confronting the Nigerian power sector are well documented, over-laboured and cut

across the industry’s entire value chain. They were summarised by a World Bank study in 2020 where it was revealed that about 47% of Nigerians lack access to grid electricity and those who do have access, face regular power outages, “it stated.

It pointed out that Nigeria’s current energy mix is heavily skewed towards gas, with 23 thermal plants contributing 76 per cent of the total installed generating capacity.

“However, years of

underinvestment in the domestic gas market as a result of price controls, regulatory obstacles and pipeline vandalism have put question marks on the commercial viability of gas supply to the power sector. Agusto & Co estimates that renewable energy sources (such as wind and solar) in Nigeria, which are frequently proposed as alternatives to gas, are still in their infancy and are not commercially viable on a Continued on page 30

M A R K E T D ATA A S AT T H U R S D AY, S E P T E M B E R 2 2 , 2 0 2 2 BILLS

BONDS DESCRIPTION Price ^14.20 14MAR-2024 13.53 23MAR-2025 ^12.50 22JAN-2026 ^16.2884 17MAR-2027 ^13.98 23FEB-2028

Yield

104.23

11.05

101.11

13.00

99.25

12.77

111.56

12.83

103.73

13.00

Change Updated Time (%) September -0.01 16, 2022 September 0.00 16, 2022 September 0.00 16, 2022 September -0.09 16, 2022 September 0.00 16, 2022

MATURITY NTB 13-Oct22 NTB 10Nov-22 NTB 26-Jan23 NTB 9-Feb23 NTB 9-Mar23

Discount 9.00

9.06

3.90

3.92

9.80

10.16

10.00

10.42

Change Updated Time (%) September 16, 0.00 2022 September 16, 0.00 2022 September 16, 0.00 2022 September 16, 0.00 2022

7.82

September 16, -2.74 2022

7.54

Yield

CPS MATURITY NENL CP I 24-OCT-22 FSDH CP VII 27-OCT-22 SIBP CP III 27-OCT-22 DLMG CP IV 11-NOV-22 FDHP CP III 17-MAR-23

Discount Yield 20.68 21.14 14.67 14.92 13.84 14.05 17.20 17.66 11.16 11.81

Change Updated Time (%) 16, 0.03 September 2022 16, 0.02 September 2022 16, 0.01 September 2022 16, -0.01 September 2022 16, -0.07 September 2022

OTC F X F U T U R E S CONTRACT Current TENOR Contract Rate Updated Time ($/₦) (MONTH) NGUS SEP 28 439.60 September 16, 1 2022 2022 September 16, NGUS OCT 26 2 441.81 2022 2022 NGUS NOV 30 444.01 September 16, 3 2022 2022 NGUS DEC 28 446.22 September 16, 4 2022 2022 NGUS JAN 25 448.43 September 16, 5 2023 2022

24 T H I S D AY FRIDAY SEPTEMBER 23, 2022 TR

UT H

& RE A S O

Friday September 23, 2022 Vol 27. No 10027

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opinion@thisdaylive.com

www.thisdaylive.com

PMB’S ADVOCACY FOR DEBT CANCELLATION President Buhari’s submissions at the United Nations constitute a small hit and a huge miss, writes AYO AJANAKU

See page 25 ABACHA LOOT: WHAT MANNER OF COMPULSORY SAVINGS? JOSEF OMOROTIONMWAN argues that the loot belongs to both the federal and state governments

See page 25 EDITORIAL THE LAGOS DRUG BUST

See page 26

1

The procurement of an interlocutory injunction against the Academic Staff Union of Universities by the federal government only postpones the evil day, writes BOLAJI ADEBIYI

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The university lecturers in obedience to the rule of law should go back to work pending the resolution of their appeal to the higher court. That way, they would gain higher moral ground in the court of public opinion and render bare the serial infidelity of the government to the due process of doing things

FDSLWDO FLW\ RI /DJRV 6WDWH WR SURWHVW WKH XQHQGLQJ VWULNH 0DQ\ 1LJHULDQV and their businesses that had nothing to do with the industrial dispute were DGYHUVHO\ DͿ HFWHG ([SHUWV VDLG ELOOLRQV RI QDLUD ZHUH ORVW WR WKRVH IHZ KRXUV RI GLVWXUEDQFH 7KH VWXGHQWV DOVR ZDUQHG RQ Wednesday that they would disrupt the electioneering scheduled to start RQ WKH WK RI 6HSWHPEHU LI WKH VWULNH ZDV QRW DPLFDEO\ UHVROYHG 7KRXJK LW is possible to dismiss this as an empty WKUHDW LWV SRWHQWLDO WR VQRZEDOO LQWR a national security threat cannot be GLVFRXQWHG JLYHQ WKH UHVWLYHQHVV RI WKH \RXQJ SRSXODWLRQ QDWLRQZLGH 7KH VHULRXV LPSOLFDWLRQ RI D ODUJH DUP\ RI LGOH \RXWKV WKDW ZRXOG EH DYDLODEOH IRU SROLWLFDO PLVFKLHI GXULQJ WKH LPSHQGLQJ electioneering should not be lost on the JRYHUQPHQW ,W LV DJDLQVW WKLV EDFNJURXQG WKDW WKH JRYHUQPHQW PXVW VHH WKH LQGXVWULDO FRXUW UXOLQJ QRW DV D YLFWRU\ IRU LWVHOI RU D VHWEDFN IRU $688 EXW DV D SDOOLDWLYH it could use to buy some time to JHQXLQHO\ UHVROYH WKH FULVLV ,WV HͿ RUWV QRZ VKRXOG EH JHDUHG WRZDUG SDFLI\LQJ WKH WHDFKHUV ZLWK ORZ KDQJLQJ IUXLWV WR UHDVVXUH WKHP WKDW KHQFHIRUWK LW ZRXOG DFW LQ JRRG IDLWK DQG ZLWK GLJQLW\ $ À UVW VWHS LV WR SD\ WKH VHYHQ PRQWK VDODU\ DUUHDUV WR WKH XQLYHUVLW\ WHDFKHUV DV D WRNHQ RI JRRG IDLWK WKHQ IROORZ XS ZLWK FRQFUHWH DQG LUUHYRFDEOH WLPHOLQHV IRU WKH LPSOHPHQWDWLRQ RI RXWVWDQGLQJ 0R$V $688 RQ LWV SDUW IRU WKH VDNH RI the peace desired by the nation in WKH HGXFDWLRQ VHFWRU VKRXOG VHH WKH UXOLQJ QRW DV DQ DPEXVK WKDW LW LV EXW DV D VRIW ODQGLQJ IRU LW WR DFFHGH WR WKH SXEOLF TXHVW IRU DW OHDVW D WHPSRUDU\ UHVROXWLRQ RI WKH GLVSXWH $IWHU DOO LW LV KH ZKR À JKWV DQG UXQV DZD\ WKDW OLYHV WR À JKW DQRWKHU GD\ (YHU\ GLVFHUQLQJ 1LJHULDQ NQRZV WKDW WKLV 0XKDPPDGX %XKDUL DGPLQLVWUDWLRQ KDV UXQ RXW RI LGHDV RQ KRZ WR À [ DQ\ RI RXU DLOPHQWV ,W LV WKHUHIRUH RI QR XVH Á RJJLQJ LW OLNH D GHDG KRUVH ,W QR ORQJHU IHHOV DQ\WKLQJ WKH HYLGHQFH LV WKHUH IRU DOO WR VHH 7KH XQLYHUVLW\ OHFWXUHUV LQ REHGLHQFH WR WKH UXOH RI ODZ VKRXOG JR EDFN WR ZRUN SHQGLQJ WKH UHVROXWLRQ RI WKHLU DSSHDO WR WKH KLJKHU FRXUW 7KDW ZD\ WKH\ ZRXOG gain higher moral ground in the court RI SXEOLF RSLQLRQ DQG UHQGHU EDUH WKH VHULDO LQÀ GHOLW\ RI WKH JRYHUQPHQW WR WKH GXH SURFHVV RI GRLQJ WKLQJV Adebiyi, the managing editor of THISDAY Newspapers, writes from bolaji.adebiyi@ thisdaylive.com

T H I S D AY

3 25

FRIDAY SEPTEMBER 23, 2022

President Buhari’s submissions at the United Nations constitute a small hit and a huge miss, writes AYO AJANAKU

PMB’S ADVOCACY FOR DEBT CANCELLATION

In what appeared to be a valedictory speech, President Muhammadu Buhari on Thursday addressed the United Nations General Assembly (UNGA) in New York for the last time and called for debt cancellation for developing countries, noting that it poses “severe challenges” to WKH DͿHFWHG QDWLRQV It’s in public domain that Nigeria’s total public debt rose 3% to USD 103.3 billion in the second quarter of this year, largely GULYHQ E\ ORFDO ERUURZLQJ WR ÀQDQFH WKH EXGJHW GHÀFLW DFFRUGLQJ WR WKH 'HEW 0DQDJHPHQW 2΀FH '02 The federal government’s total debt

(s) portfolio and contingent liabilities KDYH KLW 1 WULOOLRQ HYHQ DV WKH ÀJXUH could balloon to near N65 trillion before the end of the year, as the Buhari-led administration scrambles for any available IXQGV WR VXUYLYH WKH FXUUHQW ÀQDQFLDO squeeze before its expiration in May, next year.

7KH ÀJXUH GRHV QRW LQFOXGH undocumented contingent liabilities to university lecturers, public school teachers and other public employees to whom the government is indebted. It also excludes RWKHU SHQGLQJ ÀQDQFLDO OLDELOLWLHV WR non-lending bilateral and multilateral institutions.

FGN’s debt obligation stood at N35.7 WULOOLRQ DV RI -XQH 7KHVH ÀJXUHV GR not include the Central Bank’s lingering overdrafts estimated at N20.6 trillion at the last count. Besides, the government’s ´FRQWLQJHQW OLDELOLWLHVµ WR GLͿHUHQW institutions and projects stood at N4.6 WULOOLRQ DW WKH FORVH RI ODVW \HDU 7KH ÀJXUH LV projected to reach N4.98 trillion at the end of the year and jump by as much as 50 per cent to N7.52 trillion next year when the FXUUHQW DGPLQLVWUDWLRQ ZLOO OHDYH R΀FH President Buhari is expected to exit the R΀FH RI 3UHVLGHQW DQG & LQ & RI 1LJHULD on May 29 next year when he must have FRPSOHWHG KLV VHFRQG WHQXUH LQ R΀FH DV required by law.

The treatise delivered earlier at the comity of nations by the President didn’t hit the bullseye as regards canvassing for debt relief that’s based on parameters of debt servicing. Nigeria has been through this cycle before during the tenure of former president Olusegun Obasanjo who HQJLQHHUHG WKH SURFHVV WR RͿVHW 1LJHULD·V external debt portfolio via deft debt negotiation manoevures employed by the WKHQ PLQLVWHU RI ÀQDQFH 1JR]L 2NRQMR Iweala and a consortium of external advisers.

Nigeria’s debt relief deal earlier in 2005

was historic. Although the short-term ÀQDQFLDO ZLQGIDOO ZDV PRGHVW WKH UHDO potential impact was for the future. The long-term challenge for Nigeria was to consolidate the gains from the debt deal by pushing forward with economic reform(s) DQG HQVXULQJ WKDW WKH EHQHÀWV IURP GHEW relief were shared with the population.

This was by no means assured, but the debt deal was an important step in the right direction then.

It’s from those enviable heights that 1LJHULD·V GHÀFLW KDV JURZQ WKLV ÀVFDO \HDU due to the high cost of fuel subsidies at a time when oil revenue has fallen due to wanton and industrial scale crude oil theft coupled with the vandalism of pipelines.

Nigeria is unable to meet its OPEC quota of two million barrels per day thanks to these factors that have taken a colossal economic dent on the treasury of Africa’s most populous nation. In plain terms how does any third party rationalize this huge drawback?

Delivering the country’s statement at the 77th General Assembly, the president UHFDOOHG WKDW KH ZRXOG KDYH ÀUVW DGGUHVVHG them in 1984 as military head of state but KDG KLV ÀUVW RSSRUWXQLW\ LQ ZKHQ he became the democratically elected president of Nigeria. He said, “Indeed, the multifaceted challenges facing most developing countries have placed a GHELOLWDWLQJ FKRNHKROG RQ WKHLU ÀVFDO VSDFH “This equally calls for the need to address the burden of unsustainable external debt by a global commitment to the expansion and extension of the Debt Service Suspension Initiative to countries IDFLQJ ÀVFDO DQG OLTXLGLW\ FKDOOHQJHV DV well as outright cancellation for countries facing the most severe challenges.”

Despite groundswell of criticism back in Nigeria over his numerous loan requests in the past few years, President Buhari is on a path of advocating for debt cancellation that looks like a mirage of sorts in the HFRV\VWHP RI LQWHUQDWLRQDO ÀQDQFH The International Monetary Fund (IMF) is the central institution of the international monetary system. It has two main roles.

It exercises a surveillance function by monitoring the economic policies of all the member countries and providing SROLF\ DGYLFH ,W DOVR SURYLGHV ÀQDQFLDO assistance to members faced with balance of payments problems.

These loans are disbursed on the condition that debtor countries adhere to the IMF’s economic advice. It has become a recurring decimal as Bretton Wood’s institutions have advised the helmsmen in Nigeria to remove fuel subsidies that constitute a drain pipe on the resources of nation state that has found itself with the undesirable status of being the poverty capital of the world.

The deductions from the submissions of Nigeria’s number one citizen constitute a small hit and a huge miss, as the only consolation therein was the vow to entrench a process of free, fair, transparent and credible elections through which Nigerians elect leaders of their choice in the forthcoming democratic contest next year.

Ajanaku writes from Lagos

JOSEF OMOROTIONMWAN argues that the loot belongs to both the federal and state governments

ABACHA LOOT: WHAT MANNER OF COMPULSORY SAVINGS? NIGERIA has become like the case of the farmer who in the course of the year eats up the yam tubers as well as the seed yams. Yet, at the beginning of the next farming season, the farmer wonders why he has no seed yams to plant and even the family is hungry.

This country bleeds from the wounds LQÁLFWHG RQ LW E\ VXFFHVVLYH DGPLQLVWUDWLRQV They steal it blind and leave it to bleed.

William Shakespeare (1564-1616) remains relevant: “Sweet are the uses of adversity….”

In a nation where looting is rife, Abacha’s loot easily becomes a compulsory saving of sorts. Had Abacha not stolen the money,

other better organized thieves would have stolen it without trace. For some time now, WKH UHSDWULDWHG ORRW KDV IRUPHG D VLJQLÀFDQW part of federal government revenue for the implementation of its annual appropriations.

Plans have just been concluded for the United States of America to repatriate another tranche of the $23 million of the Abacha loot to Nigeria. We are told that this repatriation will bring to $324 million repatriated from the USA alone.

Abacha’s loot was so much that it did not matter to his handlers whether they were scattered at bus stops all over the world capitals.

Each time we have this repatriation, the federal authorities in Nigeria sound like a cracked record. “We shall apply this money in the Abuja-Kaduna Highway; Lagos-Ibadan Highway; and the Second Niger Bridge”.

This is a direct admission that the administration may have found a euphemism for the re-looting of the fund.

For one thing, the three items on which the federal government constantly devotes the repatriated loot are adequately provided for in our annual appropriations.

The trick here is that the people who repatriated this money will occasionally send LQVSHFWRUV WR JR DQG ÀQG RXW WKH SURJUHVV of work in the projects. Such inspectors will always meet workers on ground, very busy - unknown to them that the people they are meeting on ground are prosecuting the budget allocation.

This means that long after the repatriated loot may have been relooted into private pockets, the impression will remain that the loot is being used as promised.

Again, who begins to spend the money that does not belong to him? That repatriated money does not belong to the federal government. Rather, it belongs to the entire federation. Good book-keeping would require that the net proceeds (amount of loot plus accrued interest minus cost of repatriation) should be standing to the credit of the Federation Account from where it

would be redistributed to the federating units.

We have argued severally that assets UHFRYHUHG IURP FRUUXSW R΀FHUV PXVW be returned to where they were stolen.

For example, recoveries from a State Governor must go straight to the State.

This underscores the need to maintain a proper inventory of recovered assets so that landed property and monies recovered from state functionaries belong to the relevant states.

Rather than adhere to this simple ethical procedure, the federal government has been sitting on the recovered monies to prosecute its annual budgets. This is stealing by trick.

Again, the present devious practice of the federal government may lead to a marginal propensity to encourage looting, knowing very well that the loot when recovered will belong only to the federal government to the exclusion of the other federating units.

7KH FDVH KHUH LV VX΀FLHQWO\ LOOXVWUDWHG in Nigeria’s present predicament. Nigeria is broke to the extent that some subQDWLRQDOV FDQQRW SD\ VWDͿ VDODULHV 7KLV situation arises from the fact that a good part of our crude oil is stolen.

A super tanker laden with 300 million US dollars of stolen product was intercepted by the Equatorial Guinea authorities, awaiting determination of its case.

How will it sound if the product gets ÀQDOO\ VROG DQG WKH IHGHUDO JRYHUQPHQW sits on the proceeds alone? What a warped federalism! And that’s what the federal government has been doing!

Even granting that the repatriated money belongs to the federal government, it must be readmitted into the Consolidated Revenue Fund from where it will be allocated to projects and programs.

Where the money is coming midstream, after the years appropriation has been approved, it is captured in a supplementary appropriation as provided in our constitution. Appropriation is a legislative function - not executive.

The death of our heroes past shall also not be in vain. Abacha’s death has brought many facts to the fore: First, but for Abacha’s death no one would have been talking of his loot, talk more of the repatriation.

Abacha may not have been a clever thief, hence his loot was scattered all over the place.

Contrary to the current practices of our anti-graft agencies, we now know that it is possible to be corrupt at that giddy height of the presidency. This points to the fact that some other people who have travelled that route may have stolen a lot more than $EDFKD GLG 7KH RQO\ GLͿHUHQFH LV WKDW they are alive and Abacha is dead.

With demand that those foreign countries who now claim to be Nigeria’s friends by repatriating Abacha’s loot should complete the circle of friendship by exposing other looters, dead or alive, and within the allowance of international law also repatriate their loot to Nigeria.

Omorotionmwan writes from Canada

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T H I S D AY

FRIDAY SEPTEMBER 23, 2022

EDITORIAL

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

THE LAGOS DRUG BUST The NDLEA needs all the support to do more

L

Drug Use Survey in 2019 which revealed that over 11 ast Sunday, the NDLEA discovered million Nigerians abused it. The drug use prevalence a warehouse in a residential estate in IRU DJHV WR LQ 1LJHULD LV SXW DW DOPRVW WKUHH Ikorodu, Lagos, with 1.8 tonnes of Cocaine, times the global drug prevalence of 5.5 per cent. and a street value of about N194bn. It was $FFRUGLQJ WR WKH 8QLWHG 1DWLRQV 2΀ FH RQ 'UXJ DQG the biggest singular cocaine seizure in Crimes (UNODC) country representative in Nigeria, Nigeria’s history. An immensely happy Oliver Stolpe, 27.7 per cent of the14.4 per cent of those President Muhammadu Buhari who was in New York concerned were youths who ordinarily should face their attending the 77th session of the United Nations General studies and called for change in the narrative to secure Assembly telephoned the Chairman of the National their future. “One in every 10 drug users is a woman; Drug Law and Enforcement Agency, Brig. General WKLV KDV DͿ HFWHG ZRPHQ DQG JLUOV SURSRUWLRQDWHO\ µ (rtd) Buba Marwa and said: “I deeply appreciate the said Stolpe. “Data collected around the globe suggest work that you have put into the eradication of the drug that this has elevated cases of gender-based violence.” menace.” And at a meeting Hard drugs cause serious later with members of his problems for the user delegation, the President Many of the audacious crimes including vicious robberies and murders, and the society at large. added, “Buba Marwa is Statistics are hard to come doing well. Two tonnes of raiding of banks, prisons, and kidnappings, are said to be aided by drugs. by but there is a correlation cocaine, that’s a haul.”

Most experts agree that issues related to drug abuse have increased the between the abuse of drugs The NDLEA under and organised crime. Many the chairmanship of challenges of insecurity in the country of the audacious crimes Marwa deserves all including vicious robberies the commendation. and murders, raiding of The war against illicit drug and abuse in Nigeria is T H I S D AY banks, prisons, and kidnappings, are said to be aided EDITOR SHAKA MOMODU SDUWLFXODUO\ GL΀ FXOW EHFDXVH LW KDV RYHU WKH \HDUV by drugs.

Most experts agree that issues related to drug DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA been compromised on many fronts. The Marwa-led MANAGING DIRECTOR ENIOLA BELLO abuse have increased the challenges of insecurity in the 1'/($ LV PDNLQJ D ELJ GLͿ HUHQFH :LWK PLOOLRQ DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU country. kilogrammes of assorted illicit drugs seized in less CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI %XW EDUHO\ PRQWKV LQ R΀ FH WKH 1'/($ XQGHU WKDQ PRQWKV RYHU DUUHVWV PRUH WKDQ EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN Marwa is more alive to its responsibility. Besides issues MANAGING EDITOR BOLAJI ADEBIYI FRQYLFWHG DQG FRXQVHOOHG DQG UHKDELOLWDWHG WKH THE OMBUDSMAN KAYODE KOMOLAFE RI ZHOIDUH IRU VWDͿ KH KDV VWUHQJWKHQHG WKH FDSDFLW\ latest seizure means the NDLEA must be doing things DQG FDSDELOLW\ RI KLV R΀ FHUV ZLWK JRRG RSHUDWLRQDO right and getting good results.

WRROV ZKLFK KDV HDUQHG WKH WUXVW DQG FRQÀ GHQFH RI The remarkable progress is better appreciated against international partners. The UNODC, European Union, T H I S D AY N E W S PA P E R S L I M I T E D the backdrop of the institutional inadequacy of NDLEA EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA United Kingdom, United States, and others help with as the leading anti-narcotic agency faced with the task GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, technical assistance and equipment. of drug control in a country with an exceptionally ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI The NDLEA is also fostering partnerships with drug high prevalence of drug use. Hard drugs, ranging DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, enforcement agencies in foreign jurisdictions. A wellANTHONY OGEDENGBE from cannabis – often called Indian Hemp - to cocaine, armed and trained strike force is on ground to beef up DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI heroin and amphetamines - are increasingly available SNR. ASSOCIATE DIRECTOR ERIC OJEH the agency’s enforcement capabilities. on the street and abused by both the young and the old ASSOCIATE DIRECTOR PATRICK EIMIUHI :LWK DOO WKLV WKH 1'/($ LV ODXQFKLQJ ZLGHVSUHDG in our country.

CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI operations against drug cartels across the country with 7KH :RUOG 'UXJ 5HSRUWV UHFHQWO\ LGHQWLÀ HG FDQQDELV DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO large harvests. They need all the support to do more.

TO SEND EMAIL: first name.surname@thisdaylive.com as the most abused drug, corroborated by National

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

LETTERS A COUNTRY DROWNING IN DEBT A running joke among Nigerians is that the country is so mired in debt that every Nigerian has a certain amount hanging over their heads. Now, whether or not this is true remains to be seen but that it is even whispered points to Nigeria`s staggering struggles with the creditor. That the country is exhibiting classic signs of a drowning man answers the question ZKHWKHU DQ\ FRXQWU\ FDQ VXUYLYH WKH VXͿ RFDWLRQ WKDW D PRXQ tain of debt certainly translates to.

The alarm about the frail state of Nigeria`s economy has certainly been ringing for a long time now. But like many other such alarms, it has always fallen on deaf ears.

7KH 'HEW 0DQDJHPHQW 2΀ FH UHFHQWO\ GLVFORVHG WKDW 1L JHULDCV WRWDO SXEOLF GHEW VWRFN LQFUHDVHG IURP 1 WQ DV RI March 2022 to N42.84tn as of June of the same year showing an increase of N1.24tn in three months.

According to the DMo, external debt remained the same at 1 WQ EQ IURP 4 WR 4 DGGLQJ WKDW SHU cent of external debts were concessional and semi concessionDO ORDQV IURP PXOWLODWHUDO OHQGHUV VXFK DV WKH :RUOG %DQN WKH International Monetary Fund, Afrexim and African Develop-

ment Bank and bilateral lenders including Germany, China, Japan, India and France.

According to the DMO, domestic debt also rose to 1 WQ EQ DV D UHVXOW RI QHZ ERUURZLQJV E\ WKH JRY HUQPHQW WR SDUW À QDQFH WKH GHÀ FLW LQ WKH $SSURSULDWLRQ 5HSHDO DQG (QDFWPHQW $FW DV ZHOO DV QHZ ERUURZLQJV E\ State Governments and the Federal Capital Territory.

The DMO further noted that the Total Public Debt to GDP DV RI -XQH ZDV SHU FHQW FRPSDUHG WR WKH UDWLR RI SHU FHQW DV RI 0DUFK DGGLQJ WKDW WKH 'HEW 6HU YLFH WR 5HYHQXH UDWLRQ UHPDLQHG KLJK All these may sound like some economics jargon for the uninitiated but the harrowing reality is that the Nigerian economy is on life support.

2QO\ ODVW PRQWK LQÁ DWLRQ URVH WR D UHFRUG \HDU KLJK showing in the process that whatever the current administration has been doing to improve the Nigerian economy is failing badly.

Can a country which has to borrow to keep going ever run a sustainable system that would give its citizens a shot at any-

thing resembling stable, comfortable lives?

For all Nigeria has borrowed over the years and the stigma compulsive borrowing has stamped on the country,to what extent has the country been able to properly utilize resources borrowed in the last few years?

Of course, has it ever happened that anyone successfully VWRUHG ZDWHU LQ D EDVNHW DQ\ZKHUH" :LWK FRUUXSWLRQ DQG FOXH lessness unyielding vices among many of those who have held WKH UHLQV RI SRZHU LQ WKH FRXQWU\ VLQFH LW GRHV QRW WDNH clairvoyance to know that not a small amount of every money Nigeria has borrowed in the last couple of years has disappeared into private pockets, or have been simply consumed by projects that were poorly executed.

1LJHULDCV GHEW SURÀ OH VSHDNV WR D FRXQWU\ VHW XS WR IDLO 1L JHULDCV SRSXODWLRQ LV SURMHFWHG WR KLW PLOOLRQ E\ 1RYHPEHU 2022. For how long will these many people continue to live RͿ GHEWV" $ODV LW DSSHDUV WKDW HYHQ WKH WLPH LV ERUURZHG WLPH Kene Obiezu, Twitter: @kenobiezu

27

FRIDAY, SEPTEMBER 23, 2022 ˾ T H I S D AY

BUSINESSWORLD

AIR WATCH

Expert Harps on Rights-based Approach for Trade, Investments in Africa Emma Okonji An Independent Expert of the United Nations Working Group on Business and Human Rights in Africa, Prof. Damilola Olawuyi (SAN), has called for rights-based approaches to trade, investment, banking and business practices across Africa.

The Frontline energy lawyer and global Vice Chairman of the International Law Association (ILA), stated this while speaking on a new book titled Business and Human Rights Law and Practice in Africa, published by Edward Elgar, United Kingdom, and coedited by Olawuyi and Oyeniyi Abe, a lecturer at the University of Huddersfield, United Kingdom.

According to him, what however remained absent for many years was an in-depth, exhaustive and book length exposition of the application of the UNGPs in African countries.

He added that the book fills

a significant gap in this regard.

“Since the adoption of the United Nations Guiding Principles on Business and Human Rights (UNGPs) in 2011, a vast volume of literature has been generated on its application in Europe, North America, Asia and Latin America amongst others.

“What however remained absent for many years was an in-depth, exhaustive and book length exposition of the application of the UNGPs in African countries.

This book fills a significant gap in this regard,” he said.

He noted that this new book is the very first book-length examination of business and human rights law and practice in Africa.

While describing the book, Olawuyi noted that it unpacks good-fit and home-grown approaches for advancing business and human rights norms across Africa.

The Energy expert added that it explores the latest developments

in law, regulations, policies, and governance structures across the continent, focusing on key legal innovations in response to human rights impacts of business operations and activities.

Olawuyi said he was inspired by his exemplary leadership and achievements in the field, hence they have put together the book to provide a simplified toolkit for lawyers, investors, students, corporations, ministries, arbitrators, courts, and international tribunals, to understand the corporate strategies for managing business and human rights risks when investing in the African continent.

Speaking also, Professor Surya Deva, a professor of law at the Macquarie Law School, Australia and former independent expert of the United Nations Working Group on business and Human Rights, said the volume would provide the much-needed African perspectives on the business and human rights landscape.

A I R WATCH Mixed Reactions Trail FG’s Choice of Ethiopian Airlines

Ethiopian, Geven-SkyTecno Partner for Insulation Blankets Manufacturing Chinedu Eze Ethiopian Airlines and GevenSkyTecno have inaugurated a state-of-the-art facility for the manufacturing of Insulation Blankets for Boeing 737 MAX airplanes as part of agreement between the Boeing Company, Geven-Skytecno and Ethiopian Airlines.

The new joint venture company of Ethiopian Airlines and GevenSkyTecno, named Ethiopian Sky Technologies, is based in Addis Ababa with primary manufacturing facility at Bole Airport.

Ethiopian Airlines holds 51 per cent and SkyTecno 49 per cent of the stake of the newly established company. The parties as per their commitment are jointly manufacturing the products in Italy and Ethiopia as a supplier to The Boeing Company. GevenSkyTecno has been contributing its process technology proficiency, manufacturing know-how as well as being responsible for

speeding up the industrialisation, qualification processes and training skills to the Joint Venture.

Ethiopian Airlines and SkyTecno invested in the state-of-the-art blankets manufacturing equipment to provide unrivalled customer service and product access. The Joint Venture focuses on delivering tailor-made solutions for Boeing 737 MAX airplanes. Products are manufactured in a multicultural environment in synergy between the African and European continent, subject to strict quality control, in order to meet the most demanding expectations of the aircraft industry.

Managing Director of GevenSkyTecno, Alberto Veneruso, said: “We are very pleased to announce this joint venture with Ethiopian Airlines, with whom we are looking forward to working together. Our manufacturing excellence combined with our expertise in process technology, industrial efficiency and worldclass distribution capabilities will

provide our customers with best-in-class insulation solutions.

Furthermore, Geven-SkyTecno provides the JV with a team of highly trained technical engineers with unparalleled experience meeting the demand for similar products from world airlines and OEM’s.”

CEO of Ethiopian Airlines Group, Mr. MesfinTasew, said: “We are glad to unveil a modern manufacturing facility of Ethiopian Sky Technologies at our home base, Addis Ababa. As part of our Vision to develop the Aerospace Manufacturing Industry in Ethiopia, the partnership with GevenSkyTecno takes our capability to the next level. As we have a very well established MRO capability with an excellent track record of providing aircraft maintenance we can leverage this capability and experience to further develop our Aerospace Manufacturing capability and eventually make it one of the key Strategic Business Units of the Airline.”

Women in Aviation Canvass for Young Girls to Join Sector Women In Aviation International (WAI), a Non-Governmental Organisation (NGO) in the aviation industry is canvassing for more females, especially young girls to show more interest in aviation industry by choosing their careers in the sector.

President, WAI Nigeria, Rejoice Ndudinachi, in a statement, said the 2022 edition of the Girls in Aviation Day would be used to encourage ladies’ involvement in the aviation industry.

The statement said that the Nigeria

Chapter of WIA International would be hosting the eighth annual Girls in Aviation Day on September 24, 2022 across the country.

She said the one-day programme would offered to local girls between the ages of eight to 16 years and they would be introduced to the possibilities available in a career in the sector.

Girls in Aviation Day is an event of Women in Aviation International hosted by Women In Aviation Chapters worldwide and more than 120 events are being organised for

over 16,000 attendees.

She said: “We want our local girls to see that there are great careers available to them as pilots, dispatchers, air traffic controllers and dozens of other jobs within the aviation community. We will introduce the girls to role models and educate them in a fun and supportive atmosphere.

“It is an outreach event to ensure the next generation of women in aviation. Chapters all over the world are putting on their own unique programmes.”

Emirates, United Airlines Sign Commercial Partnership Agreement Emirates and United Airlines have announced a historic commercial agreement that would enhance each airline’s network and give their customers easier access to hundreds of new destinations within the United States and around the world.

From November, Emirates customers flying into Chicago, San Francisco, and Houston - three of the biggest business hubs in the US, will be able to easily connect onto United flights to and from nearly 200 cities across the Americas on a single ticket.

President Emirates Airline, Sir Tim Clark, said: “Two of the biggest, and best-known airlines in the world are joining hands to fly people better to more places, at a time when travel demand is rebounding with a vengeance.

“It’s a significant partnership that will unlock tremendous consumer benefit and bring the United Arab Emirates and the United States even closer. We welcome United’s return to Dubai next year, where our hub Dubai essentially becomes a gateway for United to reach Asia, Africa and the Middle East via the combined

network of Emirates and flydubai.

We look forward to developing our partnership with United for the long term.”

CEO of United Airlines, Scott Kirby said: “This agreement unites two iconic, flag carrier airlines who share a common commitment to creating the best customer experience in the skies. United’s new flight to Dubai and our complementary networks will make global travel easier for millions of our customers, helping boost local economies and strengthen cultural ties.

Chinedu Eze Since it became public that the federal government is in talks with Africa’s most profitable carrier, Ethiopian Airlines as its choice of core investor/ technical partner for the planned national carrier, Nigeria Air, industry stakeholders have reacted differently to the report.

Last week, a team from the Ministry of Aviation met with Ethiopian Airlines management in Addis Ababa over its selection as the core investor for the national airline and being the only airline that bided after the Ministry advertised for bidders.

THISDAY learnt that after waiting for some time and no other bidder showed interest, the Ministry of Aviation started talks with Ethiopian Airlines.

From the Ethiopian end, it was learnt that the CEO of Ethiopian Airlines, MesfinTasew confirmed that Ethiopian participated in a bid floated by the Nigerian government inviting airlines interested in partnering with the government in establishing a new national airline.

After evaluating the proposal, the Ministry of Aviation picked Ethiopian as a preferred strategic partner.

“They have sent a letter to us informing us of their decision,” Tasew told local media in Addis Ababa.

In addition to that; THISDAY confirmed that a Nigerian government delegation led by the Minister of Aviation, Mr. HadiSirika went to Addis Ababa and held a meeting with the executive management team of Ethiopian Airlines Group on Monday September 12, 2022.

Although the Ministry of Aviation and Ethiopian Airlines have not signed agreement for the kickoff of the partnership, which the minister who promised to engage the media on the issue stated recently, but talks have been on-going for the birth of the national carrier.

According to Nigerian officials, the proposed national carrier, Nigeria Air, would be driven by the private sector. The Nigerian government would retain 5 per cent stake while Ethiopian will have a 49 per cent stake and 46 per cent of the airline would be owned by Nigerian investors. The Nigerian government anticipates raising 250 million dollars from the private sector.

“We plan to have some stake and work with them to establish a successful national airline,” Tasew was quoted to have said.

Ethiopian Airlines is the largest aviation group in Africa registering a 20-25 per cent annual growth. It is one of the most profitable airlines in the world. In the 2021-2022 budget year the national flag carrier made a net profit of $937 million. The airline generated $5 billion dollars revenue, a whopping 79 per cent growth from the previous year. The airline marked its 76th anniversary last April.

However, a lot of reactions have followed the announced partnership. While many industry stakeholders applauded the plan, others criticised it, saying that Nigeria should have partnered with a carrier outside Africa. The critics talked about Nigerian pride and how Ethiopian Airlines may not provide the support Nigeria Air would need.

Some critics also said that instead of giving Ethiopian 49 percent stake, there could have been better partnership arrangement that would benefit Nigeria more.

The Minister of Aviation, Senator Sirika is expected to speak on the deal to affirm whether government had decided to continue with Ethiopian Airlines.

Reacting to the planned partnership, the Chief Executive Officer, 7Star Global Hangar Limited, Isaac Balami, was reported to have stressed the importance of the national carrier.

Balami reportedly stated that for aviation to deepen its root in Nigeria and develop further, there was the need to have a national carrier, which would help in developing technical personnel through the training of pilots, engineers, marshallers and others; just as it was during the time of the defunct Nigeria Airways Limited (NAL).

“There is no doubt at all on the importance of having a national carrier. Whether the architecture or the variables are components that have to do with a flag carrier, it doesn’t matter. British Airways today is a national carrier but also a flag carrier. It is majority privately owned. American Airlines is privately owned, Delta and United Airlines in the United States are all privately owned but the issue is that the government over the years have put structures in place to ensure these airlines compete and survive.”

He emphasised that the national carrier was another window to achieving private sector participation in aviation, as well as the development of aircraft maintenance facilities and flight simulators, stressing that having a national carrier is beyond just flying an aircraft, but needs aircraft maintenance and training facilities.

Balami said it was not enough to have aviation colleges in Zaria but having advanced courses and simulators, adding that there should be a hybrid model of private and government participation, which he described as the best bet for the development of the aviation industry, saying that all the variables must be looked into to enable the sector to survive and support other players in the industry.

But industry consultant, Marketing and PR Strategist, Sindy Forster, observed that the national carrier without a change in Nigerian Civil Aviation Authority (NCAA) rules would not be able to attempt to gain optimal benefits from BASA (Bilateral Air Service Agreement) for two years.

“We already have flag carriers who need support with BASA, what support have they been given?

What BASA support will existing airlines continue to receive? An airline alone cannot take full advantage of SAATM (Single Air Transport Market), lots will be missing before SAATM can be fully utilised. What ‘competition’ when they are selectively supporting one private foreign airline over the privately owned domestic airlines. This is unfair competition, and market distortion, having three additional aircraft when we may lose more aircraft from unsupported airlines that will not lead to competitive fares.

“Wet lease does not generate Nigerian employment and there is a risk that the Nigerian MRO may never see the light of day. Ethiopian will most likely want to use their MRO as they have with every other JV they have entered into. They use their engineers, etc.

Will they use existing ground handling companies or provide their own?” she queried.

She also observed that so far the “national carrier” has been 100 per cent driven by government officials and contractors paid to do what they are told.

“Why will the government be focused on creating an enabling environment for one airline rather than all? What support will existing airlines receive? How will they compete for BASA routes? Why provide fiscal incentives for a private airline you only own 5 per cent of? They should buy 5 per cent of all for it to be a level playing field,” she added.

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FRIDAY, SEPTEMBER 23, 2022 ˾ T H I S D AY

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AGRICULTURE

Wacot: Pushing the Frontiers of Rice Production, Financial Inclusion The decision of the management of Wacot Rice Limited to deploy Union Bank into the financial inclusion project among rice farmers in Kebbi State underscores the vital role being played by operators in the private sector in national development, writes Festus Akanbi

Wacot Rice Mill

I

t is a season of rising inflation as the Nigerian economy is buffeted on all sides by insecurity, avoidable revenue shortfall, rising debt, huge energy costs and foreign exchange crisis. Worse still, food scarcity looms on the horizon due to a lack of access to funds by smallholder farmers and the inability of farmers to get farm produce to markets across the country.

Given the glaring failure of the government to midwife the desired economic turnaround and knowing that the government cannot do it alone, operators in the organised private sector are set to take the lead in the pursuit of the much-awaited economic revival.

Therefore, as the incumbent administration is busy making plans for its exit after the 2023 general election, many private sector operators are busy making deals not only to deliver superb returns to their investors but also to help tackle the problems of food insecurity, rising unemployment and exclusion of certain classes of people from banking services.

For the management of Wacot Rice Limited, it is time to look inward and exploit what is available for the good of all. Wacot Rice, one of the subsidiaries of Tropical General Investments Group (TGI), is a Nigerian rice processing company operating a state-of-the-art rice mill in Kebbi State.

The mill is one of the largest rice mills in Africa and sources paddy from various rice-producing states across Nigeria.

Wacot Rice also engages in out-grower farming programmes with paddy farmers to boost their yields and guarantees off-take from farmers through a buyback arrangement to ensure farmers get a fair price at the end of the season. The company produces two leading brands of parboiled rice in Nigeria: Big Bull and Patriot.

THE PARTNERSHIP Not long ago, the USAID-funded West Africa Trade & Investment Hub (Trade Hub) was awarded a $1.48 million grant to support Wacot Rice’s Argungu Rice Outgrower Expansion Project. As part of this initiative, the company will onboard an additional 5,143 rice farmers into a programme designed to improve the livelihoods of smallholder farmers in Kebbi State and respond to food security concerns stemming from the COVID-19 pandemic.

Wacot Rice will invest $8.6 million to work with smallholder farmers and maximise every stage of the rice cultivation process. Under this co-investment partnership, Wacot Rice will also help farmers to access financing, provide extension services and ensure high-quality inputs are used to improve yields and quality. Through this support, an additional 20,000 metric tonnes of rice will

be harvested and processed at its facility in Kebbi State. At least 50 per cent of farmers supported under this activity will be women and 70 per cent will be youth.

The company’s efforts received a further boost when it signed another agreement to the tune of $10.5 million (about N4.99 billion) with West Africa Trade and Investment to assist it to raise the bar of rice production in Nigeria. This is also to support the company’s Argungu Rice Outgrower Expansion Project based in Kebbi State.

Wacot Rice Mill is said to be processing 120,000 metric tonnes of paddy, which it procures from over 30,000 farmers in Kebbi State and other paddy-producing states every year. With its new mill nearing completion, the company said it will double its production

by May 2023.

The cost of its old factory is put at $40 million, while the new one is in the range of $55 million.

It has 650 direct staff and it is engaging 6,500 farmers for this season alone under the US programme. The company plans to double its staff strength when the new plant is completed by March 2023.

Currently, the company runs a structured Outgrower programme with tens of thousands of rice farmers every year, with a total paddy procurement outlay of approximately N27 billion per annum.

To further augment supply, WRL runs a structured Outgrower programme with thousands of rice farmers every year who are provided with quality agri-inputs, capacity building and technical support in addition to guaranteed offtake at harvest.

The Chairman of Wacot Rice, Faruk Gumel, who gave this clarification during a facility tour of the company’s imposing mill in Argungu, Kebbi State, on Tuesday, told THISDAY that there was no point in changing the policy of encouraging the farmers to grow paddy as the practice gives the farmers a profound sense of belonging and ownership.

He explained that what Wacot Rice does as a company is to support local farmers with seedlings that can improve their yields.

When THISDAY sought to know why the company had not invested in tractors and other sophisticated farming tools, Gumel said bringing in tractors would render a large number of farmers jobless. He argued that it makes sense to change the technique but not the technology.

Gumel, who is also the Vice-Chairman of TGI said the farmers see Wacot Rice as a

good partner, hence the atmosphere of peace prevailing in the state.

DRIVING FINANCIAL INCLUSION IN KEBBI In a demonstration of its reputation as a company which converts challenges to opportunities, Wacot Rice worked hard to change the narrative of inadequacy in the amount of paddy recovered from farmers at harvest.

The company’s findings from the Annual Yield, Income and Cost survey showed that while yield was significantly up from a baseline of 3MT/ha, Wacot Rice secured less than 1MT from these farmers even with premium rates.

The company realised after multiple stakeholder engagements that the insistence on payments via bank accounts was not acceptable to farmers in remote locations away from the two branches of banks in the area.

Consequently, in December 2021, Wacot Rice pledged to operate a hybrid paddy payment system incorporating both cash and bank payments during the flag-off of the 2021 farming season. Unfortunately, the large volume of cash payments which were sometimes as high as N3 billion made the hybrid payment system unsustainable.

UNION BANK, THE GAME CHANGER However, the recent acquisition of Union Bank Plc by TIG, WRL’s parent company, is said to have presented a unique opportunity to leverage the combined experiences of WRL’s smallholder engagements with UBN’s century-old banking experience.

The development, THISDAY learnt, has helped Wacot Rice to resolve the problem of lack of access to banking services in Kebbi.

Tagged Kebbi Financial Inclusion Drive (KFID), the exercise attracted hundreds of farmers, some of whom were seen going through the process of BVN registration when THISDAY visited the state last week.

As the registration progressed, an excited Gumel observed that financial inclusion for smallholder farmers is central to a long-term transformation of their livelihoods.

According to Gumel, who is also the Chairman of Union Bank Nigeria Plc, the Kebbi Financial Inclusion Drive represents a bold attempt by WRL in collaboration with UBN to financially include at least 6,000 farmers across Argungu, Augie, Suru and Dandi ahead of the upcoming farming cycle.

He explained that the implementation of

the policy is designed to simulate a one-stop shop account-opening platform, especially for smallholders without any formal identification document or requisite support.

He disclosed that 50 mobile banking hubs/ agents will be stationed across farmer communities in the four LGAs to provide primary banking services and engender ease of access to financial services while two smart banking hubs will be established with a wider range of services in selected cities.

“The KFID is centred on a multi-stakeholder alliance across the traditional leadership, the courts, the National Identity Management Commission and most importantly – our farmers.

“Ultimately, the goal is to ensure that farmers can receive payments seamlessly at harvest while being empowered to make crucial financial and investment decisions for their households,” he said.

One of the farmers, Kabiru Musa, who spoke with our correspondent, was excited at the thought of keeping the proceeds of the sale of his produce at the bank.

He said most farmers initially opposed the plan to pay them through banks because of the distance from their farms to the banks. He explained that because most of the farmers are illiterates who could not do the BVN registration without assistance. The handicap had shut them out of the financial inclusion policy, he said.

Musa noted that the KFID initiative will enable him to keep the proceedings of his sale secret since he would be the only one with access to his account detail.

Kebbi State Governor Abubakar Atiku Bagudu, who is the Vice Chairman of the National Food Security Council and also National Champion of Nigeria Rice Revolution, commended WRL for boosting the drive toward food security in Nigeria.

Addressing a delegation of WRL and representatives of the Lagos State Government to the governor’s office, Bagudu said Nigeria has what it takes to handle its food needs. He expressed the hope that the project will improve the lives and livelihoods of smallholder farmers in the region while addressing Nigeria’s food security concerns.

Commenting on the development, the Emir of Argungu, HRH Alhaji Samaila Muhammad Mera, described the WACOT Rice project as timely given the current food challenge in the country.

It is hoped that the exploits of Wacot Rice in Kebbi State will rub off positively on farmers in the state and serve as a formidable template for other stakeholders in Nigeria’s agricultural value chain to emulate.

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AVIATION

Airlines’ Worry over Fleet Depletion Heighten as High Season Approaches The withdrawal and suspension of two airlines, coupled the depletion of aircraft in the fleet of operating carriers will adversely affect flight operation in the high season towards December.

Chinedu Eze writes that increase fares, limited equipment will cripple air transport in Nigeria and frustrate movement of people, as insecurity discourages road transport

T

he major challenge Nigeria airlines are facing now is how to increase the number of aircraft in their fleet to meet passenger demand as high season begins.

From next month there will be increase in passenger demand. Many Nigerians overseas will begin to arrive from October and this will continue till January.

Currently domestic airlines have less than 30 aircraft in operation and there are indications that aircraft previously ferried overseas for maintenance may not return due to the inability of airlines to access forex.

But THISDAY gathered that as existing aircraft fleet is depleting, airlines might go for leasing to boost their fleet. But high passenger growth in the last three months of the year is predicted to stretch the equipment supply of the airlines as returnees into Nigeria during this period will rival existing passenger traffic this year.

Industry experts say that due to high fares, there has been reduction of passenger traffic by about 40 per cent. There is obvious reduction of aircraft movement and shrinking of flight schedule to many destinations.

Economic downturn and increase in fares have taken many air travellers out of the airports, leaving successful businessmen, high net worth individuals, company personnel who travel on company expenses and government officials who also travel on government expenses to still patronise airlines on domestic routes.

IMPACT According to the Chief Operating Officer of Ibom Air, George Uriesi, there are many consequences of limited fleet due to the inability of airlines to source forex to bring their aircraft on maintenance from overseas.

“The consequences are manifold. For one, capacity in the high season will be greatly reduced, which means limited numbers of seats available. That in turn will mean more passengers chasing less seats and therefore more expensive seats. But more than that, the effect of the high levels of uncertainty in the current airline business environment has made it difficult for domestic airlines to offer cheaper capacity up front, like is done every year, where by now people have booked their December flights buying cheaper

seats. As of now, domestic airlines cannot even place December seats on the market because they cannot predict with any measure of reasonable certainty for instance, how much the fuel price will be by then. Not to mention the value of the Naira. So in order to remain safely in business, airlines have to respond to the fast changing and unpredictable environment with much caution.

“The resultant philosophy is you take what you can get today and hope for the best tomorrow. But you cannot plan for tomorrow based on today’s situation because if there’s one thing we’ve seen since the beginning of this year, the situation keeps changing and mostly for the worse. It is not good for the airlines, not good for the passengers, not good for the industry and all the businesses that depend on the airlines and ultimately, not good for the country. But we remain ever positive that things will change post election and we will begin to see light at the end of this tunnel,” he said.

FINANCIAL DISTRESS In July Aero Contractors withdrew its services for non-availability of aircraft and the Nigerian Civil Aviation Authority (NCAA) suspended Dana Air. Azman Air joined the suspension for more than 24 hours but a ‘miracle’ happened than the regulatory authority restored its licence to resume operation. Nigerian airlines are facing the challenge of offsetting their debts owed aviation agencies and NCAA is insisting that the domestic operators must pay these debts.

The airlines are facing financial crunch occasioned by high aviation fuel prices, the depreciation of the naira and high exchange rate and these are beginning to impact on their operations.

PRECARIOUS STATE The airlines, no doubt, are in a precarious financial state. THISDAY learnt that their aircraft fleet is depleting because aircraft that are due for heavy checks may not be taken out of the country due to high cost and scarcity of forex; the airlines may not be able to bring their aircraft

from maintenance for the same reason: lack of forex and they are also finding it difficult to acquire spares. This is because most transactions carried out by Nigerian airlines are denominated in foreign exchange.

A fortnight ago, the Director General of NCAA, Captain Musa Nuhu spoke on airlines safety and financial well-being. He assured the flying public that NCAA would ensure that any aircraft that is in the air is airworthy, while also admitting that airlines are in financial straights; just like their counterparts in other parts of the world, as Coronavirus pandemic asphyxiated that finances of most airlines, which are now struggling to bounce back, while some have suspended their operations.

The Director General said then that the airlines have to undergo the rigorous process of audit to ensure they have the liquidity to operate safely.

“The airlines have challenges; we have sat down with some of them, discussed with them and some of them need some injections of funds.

Like Aero decided to shutdown on its own volition and they are reorganizing, getting more aircraft, expecting some injection of funds so that their financial status would grow. So, we are in discussions with them on this matter.

“Financial distress in aviation if not managed properly could turn out to be a safety issues because we don’t want airlines to start to cut corners. Those with financial difficulties if you notice, they are delaying flights, cancelling flights, but we need to work with them. We are all in this together, except where we have serious concerns in the continued existence of the airlines or serious violation, we will work with them hand on hand so that they will be able to get out of this financial challenges they found themselves,” Nuhu said.

LOW CAPACITY There has been continuous depletion of operating aircraft in the Nigerian domestic airspace. With the suspension of Dana Air and

withdrawal of service by Aero Contractors, at least eight aircraft have withdrawn their operations, and this means less number of seats.

The high season, which will begin next month, will push up the demand. This would be exacerbated by political campaigns towards February general elections, which will trigger higher demand for air travel. Industry experts say that unless more aircraft is made available, the situation would be dire.

The Managing Director of Flight and Logistics Solution Limited, Amos Akpan, told THISDAY that the Federal Airports Authority of Nigeria (FAAN), the Nigerian Airspace Managing Agency (NAMA) and airline operators are usually overwhelmed by the demand of the high season. This is because high passenger traffic stretches the facilities at the airports. Example, last year the conveyor belts at both international and domestic terminals became malfunctioned when they operated endlessly for hours.

At the domestic terminal airlines and passengers were miffed that the conveyor belts could not function optimally.

“FAAN, NAMA and Airline Operators are usually overwhelmed by the demands of the peak season in Nigerian domestic air travels. Navigational aids do not enhance landing and take-off in the season’s dust haze. Airports have limited facilities to accommodate passengers’ volume for the season. FAAN has no transfer infrastructures in Lagos and Abuja airports for international passengers to easily connect with domestic flights on to their final destinations. Fuel companies, handling companies and the airlines would not factor in the extra demands of the peak season in their plans. Consequently, we go through same experience of frustrations and complaints every end of year.

“This end of year’s peak season puts extra strain on the system because domestic airline operators do not have sufficient forex to buy spare parts, to pay for scheduled maintenance, and return aircraft to service.

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

AGUSTO & CO: RENEWABLE ENERGY WILL ATTRACT $472BN INVESTMENT IN 2022 sufficient scale to diversify the country’s energy mix.

“Given its abundant and diverse natural resources, Nigeria is capable of producing

significant amounts of clean and renewable energy (particularly solar energy). The country is located within a high sunshine belt and has significant solar

energy potential as a result.

According to the Nigerian Meteorological Agency (NIMET), the average annual daily sunshine in Africa’s largest

economy is 6.25 hours. Nigeria’s Northern region enjoys average solar radiation of about 25.2MJ/ m2 (megajoule/square meter) per day, with an average of 12.6MJ/

m2 in coastal areas. Wind speeds ranging between 2.5m/s and 6.5m/s in the Northern region of Nigeria, owing to the large expanse of dry land, also present

opportunities to generate wind power, while biomass remains a potential and untapped source of bio-energy given the amount of waste produced, “it added.

IN DIRE NEED OF FUNDS TO IMPORT EQUIPMENT, OFFER SERVICES, AVIATION AGENCIES MOVE TO STOP 25% ANNUAL REMITTANCES TO FG All these we do with our IGR. We will do more if government is not taking 25 per cent from us,” the official said.

Recently the Director General of NCAA, Captain Musa Nuhu complained that airlines were not paying their Ticket Sales Charge (TSC) and Cargo Sales Charge (CSL), insisting that it is from the same money they pay 25 per cent remittances to the federal government despite the fact that NCAA does not make profit but engage in cost recovery

of expenses incurred in provision of service to airlines and others.

Some years ago when the remittances was introduced, the then Director General of NCAA, the late Captain Muhtar Usman, had explained that NCAA as regulating authority does not make profit but operates on cost recovery.

“NCAA is operating based on cost recovery. There is no civil aviation authority in the world that I know of that is supposed to be making money. They all

operate on the principles of cost recovery. Now, because it will be difficult for aviation to be competing with agriculture, security, health, education, when it comes to allocation of national budget, the passengers are called upon to pay 5 per cent to the authority in line with the provision of the Civil Aviation Act. “That money is collected through the airlines and remitted to NCAA, which is shared with other agencies in a formula as prescribed in the Civil Aviation Act 2016. It is shared

among five agencies. For NCAA, it does not collect any money from government, the 5 per cent charge collected and shared is used to pay salaries, pay allowances, training, surveillance and on top of that; we are also now being called upon to pay operating surplus.

For an organisation that is not profit making, it is very difficult to have that surplus. And also with the increase in the number of staff in the organization, it has been very, very difficult managing the situation.

“We wish we could be let off the hook on the surplus revenue payment but unfortunately, there is another Act, the Fiscal Responsibility Act, which erroneously included NCAA as a revenue generating agency. And as I said, our prayer is, if we can get released from that then we will be able to apply whatever proceeds we are able to get and put it in training,” he had said then.

Also FAAN had at various times protested against the payment of the 25 per cent surplus revenue,

saying that the agency faces fiscal challenge of providing critical infrastructure at the airports, so it needs every revenue it generates to maintain the airport facilities.

However, the federal government executes cost-intensive projects in these agencies, like the Total Radar Coverage of Nigeria (TRACON), installation of Instrument Landing System (ILS) and Safe Tower projects in NAMA and the installation of airfield lighting and reconstruction of runways in FAAN, among others.

This

Weekend

FRIDAY, SEPTEMBER 23, 2022

TR

UTH

& R E ASO

N

WEEKLY MAGAZINE

NEWS Three Crowns Mum of the Year Contest Returns with a Bang See page 33

ETRENDS With ‘No Film’ Consensus, Nigeria Misses Out on Oscars Again See page 34

POLSCOPE The Murderous Chinese and His Lover Girl See page 35

BUKOLA LUKAN:

Group Features Editor: CHIEMELIE EZEOBI chiemelie.ezeobi@thisdaylive.com

07010510430

Winning through Affirmations

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T H I S D AY ˾ Ͱͱ˜ ͰͮͰͰ

COVER

Bukola Lukan: Winning through Affirmations ØÏ ÙÐ ÞÒÏ ÌÏÝÞ ÍÜÏËÞÙÜÝ ÙÐ ÚÓÍÞßÜÏ ÛßÙÞÏÝ ÓØ ÞÒÏ áÙÜÖΘ ßÝÒËØÎ ÓäÎÙט ÙØÍÏ ÝËÓÎ ˫ ÙÜÎÝ ËÜÏ ÐÜÏÏ˛ Þ˪Ý ÒÙá ãÙß ßÝÏ ÞÒÏ× ÞÒËÞ ×Ëã ÍÙÝÞ˛ˬ ÒÓÝ ÝË×Ï àÓÏá ÓÝ ÝÒËÜÏÎ Ìã ÐÜÓÍË˪Ý ×ÙÝÞ ÍÜÏËÞÓàÏ ËØÎ ÓØʮßÏØÞÓËÖ ×ÓØÎ ËØÎ ʩÜ×ËÞÓÙØ ßÏÏؘ ßÕÙÖË ßÕËؘ áÒÙ ÝÓØÍÏ ÒÏÜ ßØÓÙÜ ÏÍÙØÎËÜã ÍÒÙÙÖ ÎËãݘ ÒËÝ ÌÏÏØ áÓØØÓØÑ ÞÒÜÙßÑÒ áÙÜÎÝ ÙÐ ËʩÜ×ËÞÓÙØݲ Ø ËØ ÏâÍÖßÝÓàÏ ÓØÞÏÜàÓÏá áÓÞÒ˿Ayodeji Ake˜ ÝÒÏ ÏâÚÜÏÝÝÏÎ ÌÏÖÓÏÐ ÞÒËÞ ËʩÜ×ËÞÓÙØÝ ËÜÏ Ë ÝÓ×ÚÖÏ ÝÙÖßÞÓÙØ ÞÙ ×ÏØÞËÖ ÒÏËÖÞÒ ËØÎ ÒËÜÎÝÒÓÚ˛ Ø ÐËÍÞ˜ ÝÓØÍÏ ͓͓͑͑˜ ÝÒÏ ÒËÝ ÎÓÝÞÜÓÌßÞÏÎ ÙàÏÜ ͖˜͑​͑​͑ ËʩÜ×ËÞÓÙØ ÍËÜÎÝ ÞÙ ÓÑÏÜÓËØÝ áÓÞÒ ÚÙÝÓÞÓàÏ ÞÏÝÞÓ×ÙØÓÏÝ ËØÎ Ìã ͓͔͑͑˜ ÝÒÏ áÓÝÒÏÝ ÞÙ ÒËàÏ ÜÏËÍÒÏÎ ÙßÞ ÞÙ ͔͒ ×ÓÖÖÓÙØ ÐÜÓÍËØÝ ÏàËØÑÏÖÓÝÓØÑ ÞÒÏ ÚÙáÏÜ ÙÐ ËʩÜ×ËÞÓÙØ reality of the seeds I have created. Challenges, I would like to call them the opportunity.

We have had several opportunities in reframing the mind of an adult who has been conditioned in a certain way. It’s been a beautiful journey as we keep unveiling new things from how humans behave and respond to things generally. It is a whole lot we are doing in this world where negativity seems to be the norm in this society, bringing people to a state of reframing their words is a lot but we are breaking all limits gradually.

What does the concept ‘Affirmation’ ideally mean to a layman? ffirmation is every word we speak positively or negatively.

Our affirmations create our reality, and the first thing I say to people is to be careful of what they say if they are not sure they are ready to live in what they are creating with their words.

When we begin to carefully watch what we say knowing how powerful our words give expression to our emotions and determine the outcome of our reality, it is called ‘Positive Affirmations’. When we speak carelessly without putting our outcome into consideration, which is when we are using negative affirmations.

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In the reality of things, in this part of the world where insecurity and economic hardship are big burdens, how does your affirmation concept give succour to Nigerians?

I tell people that we are in this present situation as a result of our Affirmations.

Affirmations are seeds that grow to become fruits as we keep affirming them. Our dear nation is here today due to so many reasons which we know about, but I can also say that our negative seeds of affirmation are a reason we are here today.

If you want a good seed to grow, let us not look at the present situation of the seed to affirm negative words, it is high time we start speaking about where we want to see ourselves in the years to come. A good number wake up every day planting negative affirmation seeds into this nation. Words are powerful, and until we understand that we are only having what we have planted, we will keep seeing the same result.

We need to start creating the world by being intentional about the kind of seeds that you daily plant into it. America is a good example of using positive words, you hear Americans say “God bless America” whether we like it or not, God is indeed blessing America.

It is no more news that mental health has become a growing concern in Nigeria due to the aforementioned. How do we strike a balance addressing mental health through your affirmation concept?

Mental health includes our emotional, psychological, and social well-being. It affects how we think, feel, and act. As I earlier said, our words change our emotions, and our emotions put us into action. When our emotion is affected, our body changes and reacts differently based on what we have sent out to create with our words and this is likely to affect our well-being.

If you want to have stable mental health as it relates to affirmations, be different in what you are constantly affirming irrespective of the happening around you. Stop affirming into creation what you would not like to experience as a person.

How old is your Affirmation concept and so far, how has it impacted Nigerians proximally, directly, and indirectly?

We can boldly say that our Mind & Affirmation is two years now, although I have started since I was in secondary school in Junior Secondary School II, that was when it became a gift I needed to

Share with us some success stories your concept has generated since inception Asides from some transformational stories we receive daily, we have also been able to sell the vision and importance of positivity in this society and its major impact on the younger generation. This vision has helped a lot of children including adults to reframe their beliefs and move into creating their desired life with the use of positive affirmations.

Lukan nurture to serve humanity in seasons such as this, but I remember that I heard God say to me to launch out in 2020 during the COVID-19 pandemic.

I heard God say “Bukola, my people have lost hope in me and themselves due to a lot of uncertainty, I want you to use Positive Affirmations to make them begin to intentionally create the lives they desire to experience while they build faith back in me and their ability to achieve their desires”.

The truth is that it will only take a person who believes in his or her ability to achieve a goal or dream set out.

Within the past two years, we have given out over 5000 copies of Affirmation cards and books to children, teenagers,

“Within the past two years, we have given out over 5000 copies of Affirmation cards and books to children, teenagers, youths, and Adults. Our affirmations cut across all age groups.”

youths, and Adults. Our affirmations cut across all age groups.

We have recorded a lot of testimonials through these concepts, from a small girl who screamed from her sleep and was asked to use our affirmations for kids and she began to smile and gain joy and confidence to go back to sleep, to a man who struggled three years depression and got introduced to our affirmation material without even having any mentorship with me was delivered from the state of depression. A lot of transformational stories I can share if you permit me.

Take us through the journey, how did you get here, and what are the challenges?

It all started when I suddenly realised how important my environment had a great way of influencing my destiny positively or negatively. As a young girl living in a place usually known as “the city of ruffians”, I desired to stand differently irrespective of my environment.

I remember how I usually take a small mirror and say some words to myself like; I am beautiful, I am going places, I can do all things and do them well, I have a figure-eight shape, I am a solution here. I repeated these words every time until I began to act in the

How do you feel as an affirmation coach?

I feel blessed to be known as Africa’s Most Creative and Influential Mind & Affirmation Queen. Transforming the minds of people has led to transforming the lives of several people, seeing people becoming conscious of their words and speaking positively to create the lives they desire to live in gives me the strength to keep going always.

We are partnering organisations to create positive awareness in society today; it’s a win for both our partners and our organisation.

It’s not only the fact that they are giving back or creating a healthy foundation for the young generation, it is also bringing them into a huge space of market awareness to their potential clients across the globe.

We are looking forward to hitting over 13 million children, teenagers, and youths across Africa by 2030 with the partnership of organisations, individuals, foundations, government, and others to build a positive mind-set that creates a positive society that we all desire to live in.

Every child’s foundation is key for us, and we are committed to ensuring that every child is gifted with a healthy foundation.

One of the key ingredients for building the right foundation for any child is the ability to build positive thoughts inside of them, when your thoughts are positive, they will affect your emotions, and when you have a positive emotion, it becomes easier to build the right attitude.

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NEWS

Three Crowns Mum of the Year Contest Returns with a Bang Stories by Mary Nnah It’s going to be Mum-rewards season as Nigeria’s family-centric dairy brand from the stable of FrieslandCampina WAMCO, Three Crowns milk, is set to return with its highly regarded Three Crowns Mum of the Year competition.

The annual ‘Mum of the Year campaign began in 2015 intending to put the spotlight on mothers by recognising the unique role they play in ensuring a healthy nutrition for the family. This year’s edition, as with previous years, will be grand and provide three mothers with an enthralling experience.

Each of the three winners will be rewardedwithanall-expensepaid trip for themselves and two family members to Dubai, plus one year’s supply of Three Crowns milk, while others would win consolation prizes, including cash.

According to the Marketing Manager, Three Crowns Milk, Gloria Jacobs, “Three Crowns is the first-evermilkbrand inNigeria toacknowledgeandcareformothers. Motherhood demands a lot of sacrifices and repaying mums enough may be difficult.

Following the “Mum, we’ve got you” narrative, Three Crowns milk has once again brought back the highly contested ‘Mum of the Year platform for people to show appreciation to their mothers with a universe of ‘Appreciation,’ and a good chance to win a trip to Dubai” Jacobs explained.

“Due to Covid-19 restrictions and lockdowns,” Jacobs added, “The ‘Mum of the Year 2020 and 2021 editions were canceled, which is why we have consolidated on a more robust

2022 edition.

Jacobsalsoexplainedthatfamily and friends only need to follow three simple steps: ‘BUY, WRITE and SUBMIT’ to participate in the competition.

Interested participants are expected to buy Three Crowns of milk worth N2,000, write a short story on why their mums are the best, and why they deserve to be crowned ‘Mum of the Year and submit it.

She highlighted that nominations can be made in person or throughfriendsandfamily,adding that the more you buy and submit, the better your chances of being shortlisted to win.

The write-ups, names, and pictures of nominated mums

alongside empty packs of the Three Crowns milk will be submitted at www.threecrowns.com. ng/mum-of-the-year or in select stores. File sizes must be below 1 MB. Allowed file formats are JPG and PNG. All entries received will be screened while shortlisted contestants will be invited for the grand finale, where they will compete for the top three spots. The finale will be hosted and judged by top Nigerian celebrities and popular fitness coaches.

The three Crowns Mum of the Year campaign debuted in 2015 with Olamide Olaleye as the winner. Nkechi Brayila won in 2016 and Oluwakemi Longe in 2017.

In commemoration of its 30th

anniversary in 2018, Three Crowns raised the bar by awarding the grand prize to three winners: Jennifer OtoGod, Pauline Pambolo Daniel, and Adaobi Okonkwo.

They were each rewarded with an all-expense paid vacation to Dubai with two members of their families and a year’s supply of Three Crowns Milk.

Since 1988, Three Crowns milk has nourished consumers in ways that promote healthy eating habits andactivelifestylessothatmothers and their families remain healthy.

As the heart-friendly milk, Three Crowns milk is the only Nigerian dairy brand endorsed by the Nigerian Heart Foundation as it continues to celebrate every mum as the heart of the home.

Three Crowns Mum Of The Year Contest Returns With a Bang

IBOM ICON Hotel & Golf Resort Offers Exciting Independence Day Experience If you are looking for the ultimate Independence Day experience with loved ones or fellow professionals, look no further than Ibom Icon Hotel & Golf Resort in Uyo, Akwa Ibom. An array of exciting activities, entertainment, and cuisines awaits every guest during the holiday weekend.

One of the major attractions at the hotel is the Independence Day Kids Party taking place on Saturday 1st October 2022 from noon. The poolside party will include fun-filled activities ranging from swimming, bouncy castles, indoor video games, food and drinks. Children who attend will also be treated to PJ Mask gift packs, Iconite Comics, games & prizes, and lots more.

General Manager, IBOM ICON Hotel & Golf Resort, Mr. Charles Muia, stated that kids in attendance can expect an unforgettable experience that captures the joys of being proudly Nigerian.

“We are delighted to welcome every child to celebrate the 62nd anniversary of Nigeria’s independence with national pride in an atmosphere of adventure and excitement at N3,500 per child. Each participant should remember to come dressed in their favourite green and white outfit to mark the special occasion,” he said.

For lovers of nature, the rich palm forest vegetation presents the perfect backdrop for a Picnic Excursion between 11 am and 4 pm daily. For N10,000 per person, you will be treated to a picnic box with a cloth, BBQ chicken drumstick, bread roll, mini sandwich, plantain chips, jollof rice, coleslaw, apple, banana, juice packet, water, condiments, serviette, and plastic cup/cutlery.

Guests can also enjoy the PanAsian Night, an all-you-can-eat Asian buffet at the Vista Restaurant

every Thursday from 6 pm-10 pm.

For an entry fee of N11,000, you can enjoy the irresistible blend of real Asian flavours and aromas by the hotel’s culinary specialists, perfectly complemented by soothing oriental music.

To begin the weekend, guests can expect to be treated to a lavish variety of all-you-can-eat seafood buffets at the Vista Restaurant on Fridays between 6pm and 10pm.

The Seafood Night will be available at N14,000 per person with the kids’ buffet offered at a 50% discount.

In the evening, the Rotunda Bar invites adults for a relaxing

Friday Happy Hour where you get a free cocktail with each one purchased from 6 pm-10 pm as you groove to the soothing live music of Lady Willa & the Band.

The Sunday Family Brunch welcomes you to an all-you-caneat brunch buffet at N11,000 per person as well as a complimentary swimming pass and glass of bubbly.

The kids’ buffet is also available at a 50% discount where the young ones can enjoy indoor and outdoor games. Entertainment for all guests will be provided by Uncle Chico & Crew, DJ Bobo & Lady Willa Band.

How about a romantic evening with your significant other? At N100,000, the hotel will handle your Romantic Private Dining complete with a bottle of bubbly, themed decoration, butler service, water & soft drinks, a complimentary cake, a four-course table d’hôtel menu, live cooking by a personal chef, saxophone serenade, and photography.

IBOM ICON Hotel & Golf Resort welcomes you to discover the beauty and native hospitality of Uyo, Akwa Ibom, where you and your loved ones are bound to create cherished lifelong memories.

NIGERIAN EVENTS PROFESSIONALS TO GO GLOBAL WITH TEIC5.0

APPOEMN, President Mrs. Adefunke Kuyoro

All is set for a global and exceptional industry gathering that will bring together Events Professionals at a conference that will enable them to truly think and see outside the box.

The Event Industry Conference (TEIC) event, a two-day global conference for events professionals, which is in its 5th edition this year, has the theme: Globalisation: See Outside the Box to Think Outside the Box”.

The two-day global conference, scheduled to hold on September 27th to 28th, 2022 at Sheba Centre Mobolaji Bank-Anthony, Ikeja Lagos, and Whitestone Billings Way, Ikeja Lagos respectively will feature among other things, a Master class, after party, CSR and Dinner.

Organised by the Association of Professional Party Organisers and Event Managers of Nigeria (APPOEMN), an association with a mix of seasoned Events Professionals that have been at the forefront of Event Planning and Coordination in Nigeria, for the past 15 years, the event will bring together key professionals from across the country and a spectrum of events service providers, to share experiences, perspectives, insights and latest developments in the events industry.

Speaking on the forthcoming TEIC event, APPOEMN, President Mrs. Adefunke Kuyoro, said, “ We bring to you the best thing this season which is The Event Industry Conference (TEIC). There is no better time for us in this part of the world to go global, so we are encouraging everyone to come on board and let’s go global.”

“Events have always been a part of our culture, but in the recent past, it has received a sudden boost. There is a desire to mix international growing trends with the existing tradition. This is also evidenced by the increase in the coverage received from print and social media, hence the need for an association”, Kuyoro noted further.

TEIC Chairperson/Appoemn Public Relations Director - Bose Abisagboola expressed hope that the conference will provide a conducive atmosphere for the bonding experience and sharing of knowledge in a relaxed environment that enables event professionals maximise their unique skills in a world view to grow together.

Abisagboola also said that during the event, a mindset shift to go global with collaboration and networking as a game-changing strategy will also be imbibed.

“Our core is to educate and develop ethical practices as professionals. TEIC5.0 is geared towards achieving great impact collectively as professionals in the event industry with a global perspective, ensuring that our Nigerian community leverage this capacitybuilding conference to take the necessary steps in building global influential economies in the Events business”, the Public Relations Director added.

The conference is two full days of technical sessions and poster sessions on cutting-edge issues related to the event and hospitality industry will be a Hybrid - of virtual and in-person attendees.

There will also be many opportunities for networking and socialising with colleagues in the industry.

APPOEMN expressed the hope that interested persons, as well as participants, will leverage as well as partner with APPOEMN in the area of building new frontiers for exposure in developing the industry’s expertise.

The group, therefore, implored that interested people should register for TEIC5.0, and sign up their team leads just as they also spread the word concerning the event to create awareness and sensitisation to get colleagues and industry network to join in on these two days of revitalisation to boost productivity for participants on a global scale.

BINSTER Encourages Women to be Goal-setters to Excel Esther Akinsola Be Inspired Nigeria (BINSTER) has encouraged women to be goal-setters so they can be ahead of the pack in whatever they set out to do in life.

The organisation made this call at its 3rd annual conference on the theme, “Woman, You Can Have It All” as seasoned experts featured theoretical and practical lessons in health, personal development and the financial sector.

Addressing the participants who filled the marque to its brim, the CEO and Founder at Masterpiece Resource Development Centre, Mrs Modupe Oyekunle harped on the importance of having a goal and running with it.

She explained: “Life- wheel is a mechanic for identifying the cogent areas of life, planning for it and getting involved in it.”

According to Oyekunle, what is not documented does not exist.

“This implies that the principle of writing the vision is a constant.”

She further encouraged the women to see BINSTER as an ecosystem, one that thrives on relationships.

While showing gratitude to God for her journey so far without undermining her effort to ensure God’s vision for her life came to be, the industrialist appealed to the women and participants to take their relationship with God seriously.

Meanwhile, BINSTER conference celebrated women of exceptional character and rewarded individuals who were ready to leap into their financial break. Others were spurred to catch a vision for life, sustain it and stay healthy.

BINSTER is a not-for-profit organisation established for the sole benefit of touching and impacting lives.

Over the years BINSTER

Cross-section of executive members of BINSTERS at the third annual conference in Lagos State

has organised laudable charity activities across the country such as; giving no-interest loans worth over N500,000 to small

businesses, feed the street kids initiative where they fed over 3,000 kids amongst others.

BINSTER continues to beam

as a frontier charity organisation, its indelible mark on the lives of its members and society remains a reference point.

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E-TRENDS FIREBOY DML REVEALS MORE UPCOMING SONGS WITH REMA

MUSIC SHOWBIZ

…Your weekly entertainment delight

NOLLYWOOD

With ‘No Film’ Consensus, Nigeria Misses Out on Oscars Again StoriesbyVanessaObioha

Fireboy DML, Apple Music

On the latest episode of The Ebro Show on Apple Music 1, Nigerian singer Fireboy DML revealed that there are more songs featuring Mavin star Rema yet to be released. The ‘Peru’ crooner disclosed this in response to the host Ebro Darden’s question on collaborating with Rema.

According to him, it was an intentional move to collaborate rather than to engage in endless fights.

“Myself and Rema are like the two leading artists of our generation, without a doubt. We came together and realized that, ‘Yo, instead of giving these fans what they want, which is beef, let’s collaborate.’ We don’t want to repeat any mistakes from the past, we just want to make money. The fans are still doing their stuff, they’re relentless, but we will continue to show love because that’s the only way. We are too advanced for this stuff, so we came together and we want to really give them the obvious club banger that they want.”

The singer said that there were about five songs that did not make the album because they did not fit into the vision he had for the album. He however did not state specifically when the records will be released.

PERUZZI, DJ XCLUSIVE, YINKA DAVIES, OTHERSTO PERFORM ATFISH FARM THIRD ANNIVERSARY

For the second time since 2020, Nigeria’s chance to be nominated for the Oscars was dashed again. The Nigerian Official Selection Committee (NOSC) for the Academy of Motion Pictures, Arts and Sciences (AMPAS) announced recently that the films submitted for the 2023 Oscars did not meet the voting chart of its members who deliberated in a two-hour session. NOSC recorded a voting chart of 8:5:1:1 from its 15 members - with “No Film is Eligible” taking the lead.

“Nigerian films had, no doubt, improved significantly as the awareness of therequirementshassincegrownamong filmmakers,andpotentiallysoon,wejust might be bringing this award home in succession,” said Chairperson of NOSC, Chineze Anyaene-Abonyi.

Nigeria’s journey to be nominated in the International Feature Film (IFF) category of the Oscars is yet to be a reality starting with the disqualification of Genevieve Nnaji’s ‘Lionheart’ in 2019. Hope was glimpsed when ‘The Milkmaid’ made the Oscars IFF longlist in 2020. Ever since no film has

The Milkmaid made Oscars IFF list in 2020

been found worthy to be submitted for the Oscars.

“Filmmakers need to get more acquainted with Oscars-nominated films in the IFF category so as to

BLK HUT Media Partners with Zuri Health to Promote Healthcare Services on WWTBAM Show

achieve the needed international recognition and put our films in its acclaimed level of creative discourse,” said Anyaene-Abonyi.

The IFF award is presented

‘TICKETTO LIFE’ SHINES MULTICHOICE UNVEILS LIGHT ON SURROGACY ROUND-THE-CLOCK ENTERTAINMENT Precious Ugwuzor

Geshin Salvador of ‘Ticket to Life’

Iyke Bede

Peruzzi

Veteran Afro-Jazz singer Yinka Davies and other top music stars like Peruzzi, and DJ Xclusive are billed to perform at the third anniversary of The Fish Farm Lagos. The five-day event which kicked off on Wednesday, September 21 and will run through to Sunday, September 25 has a series of activities planned for patrons and guests. They include customer loyalty, games, a karaoke session with Afrobeats Guitarist YPick, an anniversary after-party with Peruzzi, Anyidons, DJ Xclusive, Dj Yorgzy, DJ Blinky and more; the bikini car-wash, Club Nite with DJ Humility and DJ Exclusive. The anniversary will culminate in a Sunday Buffet with Davies.

Fish farm, which was established just a few months before the COVID-19 crisis hit in 2020, has been able to weather the storm to become one of the fastest-rising entertainment centres in the city with excellent facilities to cater for its patrons’ lifestyle needs.

The Founder and CEO of Fish Farm Lagos, Mr. Victor Uwas said “our third anniversary extended celebration is a time to appreciate these patrons who had us in mind during the difficult COVID period and came back even more loyal as well as new guests. We want to assure our customers that we will be unrelenting in giving them some of the best entertainment and hospitality to be found around.”

Fish Farm Lagos is located at Ogudu in Lagos.

L-R: Head Marketing and Communications, BLK HUT Media Mercy Ebunuta Abua; MD/CEO BLK HUT Media, Hakeem Condotti; Co-founder Zuri Health, Titilola OlaoluHassan; Chief Finance Officer, Zuri Health, Victor Ilofuan

In a strategic move, BLK HUT Media, the producers of ‘Who Wants To Be A Millionaire?

Nigeria’ show, and a Kenyanbased mobile health company, Zuri Health, are partnering to improve healthcare access in Nigeria.

In a joint statement, the CEO of BLK HUT, Hakeem Condotti and the Co-founder of Zuri Health, Titilola Olaolu-Hassan following the agreement signing event in Lagos, said the partnership aligns with their collective commitment to the social and public good.

“While Zuri Health is a digital healthcare provider that offers endto-end healthcare solutions at your convenience which includes consultations, testing, order medication and aftercare management service, they are also working to provide affordable and accessible healthcare solutions across SubSaharan Africa. BLK HUT Media would lend its extensive media network specifically on the ‘Who Wants To Be A Millionaire? Nigeria’ show to promote its healthcare services.

The growth of Zuri Health in

the last two years, which has extended to at least eight countries within Sub-Saharan Africa, is a major testament to the potential for growth and capacity in the healthcare sector and also for social impact.

Condotti further noted that in forging the partnership, the company was convinced about its social impact outcomes and corporate responsibility.

“We are looking forward to deploying our network and reach, to promote the opportunities and prospects of the partnership for our local, regional and global audience. We are glad to embark on this important journey with Zuri Health, and lend our platform to a social issue that is at the core of our collective humanity.”

Condotti added.

The partnership will among other things include regular promotion of Zuri Health Services through a WhatsApp chatbot on the ‘Who Wants To Be A Millionaire’ and other community and social health benefits that will be rolled out through the partnership.

annually by the Academy to a feature-length motion picture produced outside the United States that contains 50 per cent or more of non-English dialogue.

When director Geshin Salvador set out to work on ‘Ticket to Life’, a film that partly touched on the subject of surrogacy, he chose to toe the minimalist path, quoting the experiences of the average Nigerian as his inspiration.

Eventually, he achieves this goal through a true-to-life expression void of melodrama as evidenced in the private screening which took place recently at the Elite Meeting Room, Allen Avenue, Lagos.

The film relays the story of a couple — played by Christian Ochiagha and Linda Osifo — faced with the sole option of surrogacy to save their fruitless marriage. Challenged with secretly adopting surrogacy, protecting the surrogate mother from a common enemy, and guarding the sanctity of their wedlock, they must race against time to attain their goals.

Although surrogacy is not a commonly practised alternative for childbirth in Nigeria, Salvador explained that “the movie was borne of the need to enlighten people on the possibilities and benefits of surrogacy, especially for a religious people like ours, who view surrogacy in a somewhat negative and ungodly vein.”

He further said: “In service of the story, I decided that my casting would not be based on actors who are star actors or just surface actors, but be based on those types of actors whom I regard as performance artists, so, I went for the actors that fit my artistic specifications.”

Written by Miskeen Anav, and produced by Eugene Enogwe, the film features Sambasa Nzeribe, Debby Emokpaire, and Tina Mba. ‘Ticket to Life’ debuts in cinemas nationwide from September 23, 2022

To thrill its millions of subscribers, especially FIFA supporters and Big Brother fanatics, Multichoice recently announced that they can look forward to round-the-clock access to all 64 of the FIFA World Cup Qatar 2022 matches and the premiere of Big Brother SA & Nigeria: The Titans.

In terms of sports, MultiChoice is making FIFA World Cup Qatar 2022 more accessible to fans than ever before by making all 64 World Cup matches available in different vernacular languages.

Also, GOtv SUPA and SuperSport are expanding their offering for football fans by adding more language options, including Pidgin, Yoruba, Igbo, Hausa, Twi, Swahili, Amharic, and more.

All the fans need to do is to download the self-service DStv or GOtv apps to subscribe or upgrade their current package as soon as possible to catch all the football action coming this year.

Some of the FIFA highlights include the DStv Blue Chair activation, where customers get to take pics on the blue chair, add #HereForEveryFan to their social posts, and access all things FIFA-related via a QR link.

Also is the DStv Football Buzz, a new podcast that covers everything World Cup-related, as shared by prominent sports influencers from across Africa, and SuperPicks, a freeto-play score prediction and fantasy football platform that allows users to create a fantasy team of actual football players for upcoming reallife matches.

Meanwhile, owing to the success of Big Brother Mzansi and Big Brother Naija, MultiChoice will unveil a Big Brother show like no other: a ‘contest’ between housemates from Nigeria and South Africa – in one house.”

With it being one of MultiChoice’s most popular franchises ever, the company is now bringing two nations together in one house.

According to MultiChoice, with a strong focus on Nigerian programming, series, and movies, Africa Magic is the industry leader in providing top-notch telenovelas, dramas, and reality shows with a unique local flavour, along with some of the biggest reality shows on the continent.

Subscribers can therefore look forward to two new series coming to Africa Magic- The Covenant and Lahira.

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POLSCOPE

áÓÞÒ ÎÎã ÎÓàáÜÓ ÏÎÎã˛ÙÎÓàáÜÓ̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙט ͸΀͸ͽ ͻ͸; ΁ͻͽ;

The Murderous Chinese and His Lover Girl

L

ast Friday was a black day for Kano State. It was a day the state lost two of its people (a young man and a young lady) in very bizarre and bloody circumstances. The two were murdered, one by a friend, the other by a lover. While the man, Sadiq Kabiru Gaya, was murdered in Abuja, allegedly by a friend, the lady, Miss Ummu Kulthum, 23, was murdered in Kano by her 47-year-old Chinese lover, Mr Geng Quangrong.

Sadiq is the son of a popular Kano politician, Senator kabiru Gaya, who is representing Kano South senatorial district in the Upper Chamber. Sadiq was said to have been murdered by his friend in an Abuja hotel, after which the sum of N20 million was transferred from his account to the account of his friend, and then the said friend went ahead to dump his body in the pool of the hotel. I am sure the police are digging up everything about that dastardly act.

But unlike the case of Sadiq, Ummu was killed in her own house by her angry lover, Geng.

The story is that the duo had met at Shoprite in Kano, and exchanged telephone numbers.

One thing led to the other and they started dating. The amorous tangle got so hot that it led to marriage promises and plans. Ummu had just her mother and siblings, as her father had passed. The immediate family had come to know Geng, who, as the story went, was a frequent visitor in the girl’s home. But somehow, Ummu got married to some else, as her extended family was said to have disapproved of the marriage between her and the Chinese man, who in anticipation of the marriage, had quickly converted to Islam, as demanded by Ummu and her family.

Another account however said he refused to convert to Islam and that was why the family disapproved of the marriage.

Understandably therefore, Geng was distraught at the marriage of Ummu to another man. But as it happened, the marriage did not last as the man filed for divorce, just

Geng

Ummu

three months after the marriage. The main reason for the divorce was that Ummu was yet chatting with the Chinese lover, with so much affection and adulation. So, when Ummu got back from the marriage, Geng thought they could resume from the marital interlude and continue from where they stopped. But Ummu did not appear happy enough to continue the relationship with Geng and became snubbish, refusing to take Geng’s many calls, to the pain of Geng.

The Chinese man, who also has a 46-yearold wife and a daughter back in China, felt he had been exploited and scammed

by Ummu and her family.

On that fateful Friday, at about 9.30 pm, Geng defied the heavy rain and went to Ummu’s house. The gate was locked. He was desperate and thus climbed the fence and got into the compound. Again, he met a locked door. He began to knock

and knock. Soon, the knocking turned to banging. When the banging continued relentlessly, the mother of the girl, decided to open the door and confront the assailant.

Soon as the door was opened, Geng shoved the woman aside, walked straight to Ummu’s room and began to stab her with a long knife. He stabbed her several times so much that Ummu fell, while the mother was screaming for help. But the noise of the rain would not let neighbours hear the cry of a woman in distress. A passer-by who heard her wailing came in and helped to catch the fleeing Geng, while Ummu kept bleeding. By the time she was rushed to the hospital, she had given up the ghost. It was a sad and abrupt end for a young beautiful girl with so much prospect in life.

Well, in accordance with Islamic rites, the young lady was buried the next day.

But there are matters arising and lessons for the living.

Mr Geng has claimed that he took the action because he had spent huge money on the girl and her family and so denying him the opportunity of marrying Ummu is like a scam and therefore decided to kill her. It is possible Geng contributed hugely or even sponsored the tertiary education of the girl, who was on her NYSC scheme.

But no amount of betrayal or scam would justify the raw murder he committed. As it stands, he has lost his money, his love and now his freedom, if not his life, eventually.

The lesson thereof is to always learn how to manage your anger. Anger is just one small letter “d” short of danger. Assuredly, Geng will have his day in court, and let him go explain to the judge that he was jilted hence he had to kill. The law has a place for such crimes of passion.

The other lesson would be for the likes of Ummu who are still alive. The 24 years’ age gap between the two of them was rather too much to be brushed aside on the banal altar of a so-called fiery love. It is such age disparity that often causes women, especially in the northern part of the country, to resort to heavy doses of kayan mata, a local love potion to boost libido et al, with all the attendant danger.

Ummu fell in love with someone she did not sufficiently understand, perhaps because of the rain of money being showered on her and her family by the Chinese.

And that leads me to the other lesson. Many have blamed Ummu’s mother for tolerating the relationship for so long, apparently because of the monetary benefits she was getting from it. They wanted the man’s money, but did not want a conjugal relationship. As my people would say, what you will not eat, don’t use your teeth to share it.

When she noticed the relationship was getting toxic and threat-filled, the police should have been called in. Now the worst has happened and the scar would remain for a long time, if not eternally. Only the living can learn lessons.

My Ordeal with Ikeja Electric

O

ne of the attractions of the private sector is speed of action and efficient service delivery. The assumption is that the public/ government businesses are usually plagued by endless protocols and annoying red tapism.

But as the Holy books will say, if salt loses its taste, then it is not good for anything, but to be trod down under the feet of men So, when the federal government unbundled the PHCN into several/smaller entities, many had assumed that the ancient problem associated with electricity supply in the country was, at least, half-solved. How wrong we were! As the late Fela Anikulapo-Kuti once described it, the PHCN, which derived from the notorious NEPA, only became Problem Has Changed Name. The issues were still there. And in the last one month, this has become even more real to me in my daily dealings with Ikeja Electric, the parent company (Ikeja Electricity Distribution Company---IKEDC) that is supposed to supply light to my part of Lagos.

The experience has both been nasty and bitter.

I have had two encounters with Ikeja Electric.

None of them has been exciting or soothing.

First, it was (and still is) my house issue at Journalists’ Estate, at Arepo, on the outskirts of Lagos. I should even wonder why it is Ikeja Electric that is servicing the estate and not Ibadan Electricity Distribution Company (IBEDC) which services Ogun State. Arepo community is under Ogun State. But that is not the issue for today.

This is the second year running that we have been going back-and-forth on the electricity Bill in my house at the estate. I had a tenant who moved out since 2019, before the COVID. He said he had written to IE (Ikeja Electric) informing them of vacating the house. The house was serviced by post-paid meter, where the bill is usually by whimsical estimation. Till date, the house has remained unoccupied. But the electricity Bill, until last month, had faithfully kept coming, even when I had written to the company twice saying that the house was unoccupied. The same IE had

once disconnected the house and rolled away the wires connecting the house. Yet, that did not stop the bills from coming.

The result is that as at last month when they eventually suspended the Bills, it had accumulated to N1,039, 478.59. I have visited their Arepo outpost and even the Magodo offices of the IE. But the issues remain unresolved. I have challenged them to physically go and confirm if the house was occupied. They have not. The house remains unoccupied. The huge and fictitious Bill has remained an issue for any prospective tenant. Last August 18, the management of IE called a meeting of customers and stakeholders, in the Magodo office, to discuss arising issues.

We were there. The issues of the arbitrary and continuous Billing were presented with a request that the fictitious Bills be vacated. More than one month after, nothing has been done. The huge Bill is still hanging on the house. Tenants cannot rent the place because of the humongous electricity Bill.

Our request for a pre-paid meter has

remained unattended to.

Then the other case is in my private office, somewhere in Idimu, Lagos. Again, it has to do with the arbitrary Billing from the post-paid meter. Faithfully, the clerks that compute the bills kept adding ten or more thousand Naira, every month, even when the offices do not open.

After so much harassment from the marketers, we eventually paid for a pre-paid meter, midJuly. By August 20, they came to install the pre-paid meter. The three-phase meter came with 100 units. In a few days, the units were exhausted. And for three full weeks now, we have been struggling to recharge the meter to no avail, after they have collected the N20,000 we paid to recharge the meter. They had earlier compelled us to pay N52,000 out of our so-called outstanding bill—the product of the arbitrary bill, before we could recharge. We did.

There is practically nothing we have not done.

My staff have, for five full days, gone to the outpost office in Ponle, near Iyana-Ipaja, gone to another outpost office at Orisumbare to see how we can recharge. But nobody seems to understand what has to be done. Several codes and directives have been given. But nothing

works. Even the IE officials, these ones who wear branded overall outfits, have climbed the meter several times without being able to recharge.

Needless to say, each time they come, we rent a ladder and offer tips. But nothing gets done.

So, for three full weeks, we have remained in perpetual darkness with all the concomitant discomfort and difficulties. We are helpless and despondent. We are back to looking for who knows who in IE to help persuade (and even bribe them) to enable us to recharge. What kind of privatization is this? That even with my own money, I cannot enjoy the service I have paid for?

I have written a few e-mails to the Customer Service department, who would reply after days, with plastic courtesy, and pledge to address the issue soon, after giving you an SR number. But nothing gets addressed.

It is worse than dealing with public/government entities. The experience is even worse when you call the Customer Service line (01-7000250). The recorded voice, after taking you round all forms of silly commands and processes of press-this-press-that, will end up telling you what you are asking for has been sent to you, whereas, nothing, yes, nothing has been sent at all.

Three weeks ago, we yet paid for another pre-paid meter (One phase), for another flank of the office. Ten days ago, they called to ask for the location of my office (as if it’s not in the form I filled). After all the graphic description, we are yet to see any IE official for the installation. And when I called about five days ago, the man on the other end said, “Maybe the meters they have are finished, hence they have not come”. So why did they call for directions if they weren’t ready to come install the meter? It’s been a bunch of mess on all fronts.

Till date, nothing has happened. We are still in darkness. And I begin to think whether there is anger and conspiracy to punish me for migrating from post-paid meter to pre-paid meter, wherein I will no longer be a victim of arbitrary charges. With experiences and acts like this, we can hardly be apostles of the privatization scheme. Truly, the beautiful ones are not yet born!

36

IMAGES

T H I S D AY ˾ DAY Ͱͱ˜ ͰͮͰͰ

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

L-R: Immediate-past President, Ikeja Dynamic Lions Club, Olamide Owoyomi; Elder Bamidele Alo; Cleric, Deaconess Omoyemi Alo; newly-installed President, Ikeja Dynamic Lions Club, Michael Alo; and guest, Mrs. Olufunke Alo, at the fundraising luncheon for humanitarian causes and public presentation in Lagos... recently

L-R: Partner, Punuka Attorneys and Solicitors, Ebelechukwu Enedah; Speaker/Head, Global Disputes Investigations and White Collar Defence, Jones Day, Heather Martin; Chairman, Nigerian Bar Association (NBA), Lagos chapter, Mr. Ikechukwu Uwanna; and Speaker/Special Agent at Arizona Attorney General’s Office, Mr. Roger Geisler, during the opening ceremony of a two-day workshop on ‘The Attorney General Alliance-Africa (AGA -Africa)’ in Victoria Island, Lagos...recently PHOTO: KOLAWOLE ALLI

L-R: Group Chief Executive Officer, SO&U Limited and Chairman of the occasion, Mr. Udeme Ufot, presenting the Marketing Edge Outstanding Sales Director of the Decade to Mr. Uche Unigwe, the sales director, Nigerian Breweries Plc, at the Marketing Edge Brands and Advertising Awards of Excellence held in Lagos…recently

L-R: Beneficiary, Lagos Innovates Talent Development Programme, Abiola Ogunbajo; Head of Startups, Lagos Innovates, Ireayo Oladunjoye; Head, Corporate Services, Honeywell Group, Tomi Otudeko; Chief Executive Officer, Dataleum, Akinbode Roberts; Head, Governance and Sustainability, Honeywell Group, Yewande Giwa; and beneficiary, Lagos Innovates Talent Development Programme, Bamigbola Segun Ayoola, at the opening ceremony of the Lagos Innovates Programme in Lagos…recently

L-R: Director/Principal, Agidingbi Senior Secondary School, Mrs. Adenike Faronbi; Director/Principal, Agidingbi Junior Grammar School, Mr. Olukayode Alo; student, Agidingbi Grammar School, Femi Oguntayo; Head, Planning and Strategy, Mediatek Global Services Limited, Angela Amaechi; student, Agidingbi Junior Grammar School, Angel Nwoju; and Head, Finance/Admin, Mediatek Global Services Limited, Alfred Ajanaku, at the presentation of school materials to Agidingbi Grammar School in Lagos…recently PHOTO: SUNDAY ADIGUN

L-R: Managing Director/CEO, Bank of Industry (BoI), Mr. Olukayode Pitan; and Manager, Sub-Saharan Africa Financial Institutions Group (IFC), Mr. Gökhan Kont, during a courtesy visit to the management of the bank in Lagos...recently

L-R: Chief, Legal and Regulatory Officer/Company Secretary, Airtel Nigeria, Shola Adeyemi; and President/ Chief Executive Officer, Instinct Wave, Akin Naphtal, during the award presentation for outstanding contributions to the telecoms sector to Adeyemi at the Tech Innovation Awards 2022 in Lagos…recently

37

FRIDAY, SEPTEMBER 23, 2022 • T H I S D AY

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

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

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

floor of the Nigerian Stock Exchange.

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

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

GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 21Sept-2022, unless otherwise stated.

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

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

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 188.89 190.04 13.16% Afrinvest Plutus Fund 100.00 100.00 8.55% Nigeria International Debt Fund 313.79 313.79 9.91% Afrinvest Dollar Fund 105.73 106.88 7.16% 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 N/A N/A N/A AIICO Balanced Fund N/A N/A N/A 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 7.01% Anchoria Equity Fund 139.11 140.68 -0.10% Anchoria Fixed Income Fund 1.18 1.18 3.08% info@anchoriaam.com ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 21.06 21.70 3.85% ARM Discovery Balanced Fund 509.00 524.35 12.82% ARM Ethical Fund 42.52 43.81 9.16% ARM Eurobond Fund ($) 1.09 1.09 0.39% ARM Fixed Income Fund 1.06 1.06 4.44% ARM Money Market Fund 1.00 1.00 10.10% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 91.15 91.15 -5.74% AVA GAM Fixed Income Dollar Naira 1,091.30 1,091.30 9.13% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.10 2.10 2.64% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.28 2.33 5.96% CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalfif@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund Name Bid Price Offer Price Yield / T-Rtn Capitaltrust Halal Fixed Income Fund N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.02 1.02 6.13% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 12.28% Paramount Equity Fund 18.24 18.57 9.86% Women's Investment Fund 144.98 146.71 2.13% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund N/A N/A N/A Cordros Milestone Fund N/A N/A N/A Cordros Dollar Fund ($) N/A N/A N/A CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund N/A N/A N/A Emerging Africa Bond Fund N/A N/A N/A Emerging Africa Balanced Diversity Fund N/A N/A N/A Emerging Africa Eurobond Fund N/A N/A N/A FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund 1505.89 1505.89 11.50% FBN Balanced Fund 192.83 194.13 10.03% FBN Halal Fund 123.68 123.68 11.16% FBN Money Market Fund 100.00 100.00 10.37% FBN Dollar Fund (Retail) 126.01 126.01 6.05% FBN Nigeria Smart Beta Equity Fund 157.20 159.30 4.72% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 8.37% Legacy Debt Fund 3.57 3.57 -10.83% Legacy Equity Fund 1.87 1.91 7.61% Legacy USD Bond Fund 1.24 1.24 2.79% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn

Coral Balanced Fund Coral Income Fund Coral Money Market Fund

4,044.10 3,625.88 100.00

4,098.89 3,625.88 100.00

5.24% 6.28% 11.30%

FSDH Dollar Fund 1.12 1.12 4.06% GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund N/A N/A N/A Vantage Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Kedari Investment Fund (KIF) N/A N/A N/A Vantage Equity Income Fund (VEIF) - June Year End N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.62 1.65 13.96% Lotus Halal Fixed Income Fund 1,171.46 1,171.46 6.67% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 11.92 12.01 8.89% Meristem Money Market Fund 10.00 10.00 10.71% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 102.73 102.73 9.69% Norrenberger Money Market Fund (NMMF) 100.00 100.00 11.40% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund N/A N/A N/A PACAM Fixed Income Fund N/A N/A N/A PACAM Money Market Fund N/A N/A N/A PACAM Equity Fund N/A N/A N/A PACAM EuroBond Fund N/A N/A N/A SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 122.52 125.04 0.05% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.07 1.07 10.05% 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 3,511.66 3,545.09 3.67% Stanbic IBTC Bond Fund 241.89 241.89 2.68% Stanbic IBTC Ethical Fund 1.39 1.40 10.71% Stanbic IBTC Guaranteed Investment Fund 326.42 326.43 4.25% Stanbic IBTC Iman Fund 257.21 260.87 10.24% Stanbic IBTC Money Market Fund 1.00 1.00 10.28% Stanbic IBTC Nigerian Equity Fund 11,715.90 11,874.56 7.38% Stanbic IBTC Dollar Fund (USD) 1.34 1.34 3.76% Stanbic IBTC Shariah Fixed Income Fund 119.79 119.79 2.46% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 112.43 112.43 5.69% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 0.95 0.97 7.02% United Capital Balanced Fund 1.34 1.36 2.77% United Capital Wealth for Women Fund 1.14 1.15 10.03% United Capital Sukuk Fund 1.08 1.08 7.21% United Capital Fixed Income Fund 1.92 1.92 6.31% United Capital Eurobond Fund 123.42 123.42 5.79% United Capital Money Market Fund 1.00 1.00 10.96% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.59 13.71 3.03% Zenith ESG Impact Fund 15.51 15.65 6.07% Zenith Income Fund 23.12 23.12 5.31% Zenith Money Market Fund 1.00 1.00 10.24% VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 3.73 3.83 -6.96% Vetiva Consumer Goods Exchange Traded Fund 6.02 6.12 2.96% Vetiva Griffin 30 Exchange Traded Fund 17.86 18.06 1.02% Vetiva Money Market Fund 1.00 1.00 8.86% Vetiva Industrial Goods Exchange Traded Fund 17.81 18.01 -10.83% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 138.25 140.25 -12.29%

REITS NAV Per Share

Yield / T-Rtn

119.29 52.14

5.27% 2.50%

Bid Price

Offer Price

Yield / T-Rtn

14.16 125.45 98.78 16.40 17.10

14.26 128.62 100.93 16.50 17.20

1.26% -1.31% -0.99% -4.16% 13.71%

NAV Per Share

Yield / T-Rtn

107.59

0.00%

Fund Name SFS REIT Union Homes REIT

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

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

38

T H I S D AY ˾ ˜ 23, 2022

BUSINESS/MONEYGUIDE

CIS, ASHON, Seek FG’s Approval of CISI Bill Kayode Tokede Chartered Institute of Stockbrokers (CIS) and Association of Securities Dealing Houses of Nigeria (ASHON), has presented to the National Assembly, the rationale and benefits of passing the Bill that will transform CIS to Chartered Institute for Securities and Investment (CISI).

In a statement, they stressed that the bill, when passed, will ensure the registration of all professionals in the securities business as against the current duplication of roles among different professional bodies.

Similarly, ASHON has proposed inclusion of Stockbrokers on the Board of the Securities and Exchange Commission (SEC) as core operators in the Nigerian Capital Market.

The statement stressed the need to properly define the scope of functions of the Institute and the securities that a Stockbroker can deal in.

“Hence, this CISI Bill seeks to properly define the scope of a Stockbroker, which includes securities dealing, fund and portfolio management, asset management, investment management, corporate finance and other related fields.

“The need for a professional body in the Nigerian capital market empowered by law to regulate the training and certification of core capital market operators cannot be overemphasized. This would prevent the unnecessary proliferation of professional bodies performing similar roles, ensure standardization of training and certification, and check the influx of charlatans and quacks as operators in the Capital Market, which will lead to the continual development of our market. Weak controls in this area had impacted the market negatively and among other factors, resulted in the near collapse of the capital market

a few years ago.

“Currently, there is an existing Chartered Institute of Stockbrokers Act No. 105 of 1992, which recognizes the CIS as the only body of professionals legally empowered to train and certify professionals in Securities and Investments, which is an extension of the functions conferred on Stockbrokers by the Lagos Stock Exchange Act of 1961, which was later renamed The Nigerian Stock Exchange.

“The training received by CIS members sufficiently equips them to operate as professionals in stockbroking, securities and investment, fund and portfolio management, asset management, investment management, and other related fields. Over the years, Stockbrokers have operated in all the segments of the capital market including securities issuance, trading, dealing, custody, and trusteeship, “the statement read.

Capital Group Redeems N3.52bn Commercial Paper Issues Kayode Tokede Capital Group has announced the maturity and successful redemption of its N1.24billion Series 1, N1.01billion Series 2 and N1.27billion Series 3 Commercial Paper (CP) issues under its N20billion Issuance Programme.

The N1.24billion Series 1, N1.01billion Series 2 and N1.27billion Series 3 Commercial Papers which were all issued via and quoted on the FMDQ Securities Exchange; matured on the 31st May 2022, 29th August, 2022, and 12th August 2022

respectively.

In line with best practice, the FMDQ has been informed of these redemptions. With a successful outing, the three Series garnered investments from a variety of investors ranging from Pension Fund Administrators, Asset Managers, Insurance companies and Banks.

Commenting on the successful redemption, the GCEO of DLM Capital Group, Mr. Sonnie Ayere, in a statement said, “We are pleased to have fully repaid all the investors in the Series 1, Series 2 and Series 3 CP

issuances.

“We thank all our investors for their participation and reiterate our commitment to being a counterparty that can be relied on for the long term; we have been around for 13 years, and we will continue to contribute our quota to Nigeria’s development”.

He further added that “these redemptions reflect DLM’s capacity to meet its financial obligations as at when due and we intend to remain an active issuer in the commercial paper market.”

TGI Distri Spreads Love on its 5thYear Anniversary As part of activities to mark its 5th year anniversary, leading food brand distributor, TGI Distri Limited recently paid visits to SOS Children’s Village and Bethesda Home for the Blind in Lagos. The business also visited The Green Pasture Children’s Home Kano to felicitate and spend time with the special people in these homes.

During the visit, the business donated its quality products to the homes as part of its corporate social responsibility.

This is aimed at supporting the growth & development of the special people in these homes by providing nourishment for their wellbeing. Items donated include cartons of Golden Terra Soya Oil, Big Bull Rice and Terra

Seasoning Cubes.

Arriving at the SOS Children’s Village Isolo, the team from TGI Distri Limited was welcomed

by Justinah Ochejeni, Account Officer, Interim Store Coordinator of the orphanage. The team commended the administrators of the Orphanage for the remarkable work being done to restore hope and positively impact on the lives of children resident there.

Same gesture was extended to Bethesda Home for the Blind Mushin, where the team from TGI Distri were treated to a heart-warming musical performance. During interaction with the students, the team learnt of the aspirations of some of

students and encouraged them to go after their dreams against all odds. With smiles on their faces, they thanked TGI Distri Limited for spending time with them and making their day much brighter.

Chioma Ohakwe, the administrator of the Bethesda Home for the Blind expressed delight with the visit by the team from TGI Distri and commended the management of the company for the initiative.

“I am very happy, and you can see the smiles on the faces of these students. It doesn’t happen to us everyday and anytime we see people donate to our organization, we are grateful, ”she said.

FirstBank PartnersVerve International, Makes Customers Millionaires In partnership with FirstBank – Nigeria’s premier and leading financial inclusion services provider – Verve International, Africa’s leading payment technology and card business, has launched its third National Consumer promo designed to reward users of FirstBank verve card with exciting gifts and cash prizes to appreciate their patronage and use of the card to carry-out their electronic banking transactions.

The in a statement said the ongoing 2-month promo will

end on 30 October 2022, “as 20 customers (10 customers per month) with the highest transaction count during the promo will be made millionaires, winning the sum of N1 million each. Also, N20,000 will be won by 25 customers monthly.

“On the other hand, 2620 FirstBank verve cardholders that double their transactions every week, stand a chance to enjoy 10% cashback capped at N2,000 per customer.”

Group Executive, e-Business & Retail Products, Chuma

Ezirim, said, “we appreciate our partnership with Verve Card through the years; a partnership of empowerment and opportunities which include growing the economy, supporting new businesses and preventing unemployment. FirstBank verve card holders are encouraged to keep using their cards as it is a card offering that promotes safe, convenient and rewarding digital banking experience with 20 customers standing a chance to be millionaires at the end of the promo.”

L- R: Trade Marketing Manager, TGI Distri, Okonkwo Chinedu; Account Officer, Interim Store Coordinator, SOS Children’s Village, Justinah Ochejeni; Strategic Business Development Manager, TGI Distri, Tanvi Savara; Head of Media and Communications, TGI Distri, Nnenna Onyenacho and Trade Marketing Manager, TGI Distri, Gabriel Akanuchi during the donation of food items to SOS Children’s Village Isolo as part of activities to celebrate the company’s 5th year anniversary in Lagos...recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JUNE 2022 Money Supply (M3)

48,865,823.53

-- CBN Bills Held by Money Holding Sectors

167,956.2

Money Supply (M2)

48,797,867.32

-- Quasi Money

28,405,330.1

-- Narrow Money (M1)

20,392,537.22

---- Currency Outside Banks

2,722,785.91

---- Demand Deposits

17,669,751.32

Net Foreign Assets (NFA)

6,242,394.29

Net Domestic Assets(NDA)

42,623,429.24

-- Net Domestic Credit (NDC)

57,267,178.05

---- Credit to Government (Net)

17,996,690.06

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

39,270,488

--Other Assets Net

5,566,430

Reserve Money (Base Money

11,320,304

--Currency in Circulation

3,259,269.15

--Banks Reserves --Special Intervention Reserves

11,320,303.72 384,377.56

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

June 2022

Inter-Bank Call Rate

11.10

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

13.00

Treasury Bill Rate

2.45

Savings Deposit Rate

1.38

1 Month Deposit Rate

3.48

3 Months Deposit Rate

4.55

6 Months Deposit Rate

4.97

12 Months Deposit Rate

5.30

Prime Lending rate

12.29

Maximum Lending Rate

27.61

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT THURSDAY, MAY 7

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).

39

T H I S D AY ˾ ˜ Ͱͱ˜ ͰͮͰͰ

Afriland Properties Shareholders Endorse N0.10 Dividend Payout

Kayode Tokede

The shareholders of Afriland Properties Plc have approved N0.10 dividend payout by the management of the company, translating to N137.39million return on investment for 2021 financial year. The company had paid N0.50 kobo per share dividend in 2020 financial year.

At the 9th Annual General Meeting (AGM) of the company in Lagos yesterday, the

shareholders commended the company’s growth in revenue and profit before tax, urging the management to work with the federal government in bridging the housing deficit in the country..

The President of the pragmatic Shareholders Association, Mrs. Bisi Bakare, expressed satisfaction with the company’s strong operational performance in 2021 financial year despite macroeconomy challenges, adding that the expansion drive would enhance profitability and

P R I C E S MAIN BOARD

F O R DEALS

robust dividend to shareholders.

Reviewing its 2021 financials, the Chairman of the company, Emmanuel Nnorom, at the meeting said, “In spite of the challenging business environment, the company recorded strong operating performance in revenue and profit. Revenue grew by eight per cent to N1.99billion as opposed to N1.85billion recorded in 2020 financial year.

“The profit before tax perfor-

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

QUANTITY TRADED

VALUE TRADED ( N )

mance of N1.60billion showed a 58 per cent increase in the year as against N1.01 billion recorded in the prior year. The total assets of the company for the year ended December 31, 2021 was N17.30billion as against N27.10billion recorded in 2020.”

He disclosed that in 2021, the company commenced and completed 22 clients projects while 31 are at various stages of completion across different locations in the country.’

T R A D E D MAIN BOARD

A S

Also, the Chief Executive Officer, Afriland Properties, Uzoamaka Oshogwe stated that the company’s 2021 performance has been nothing but exhilarating and commendable amidst the challenges posed by the uneven recovery in the various sectors across the globe.

She noted that, “During the year under review, we commenced and completed the construction of some clients’ business projects located nation-

O F

wide, while proprietary projects commenced in the year are at various stages of completion.”

According to her, the company is positioned to take advantage of Government’s policy direction and optimize future rental income from proprietary properties and continue with the aggressive development of residential and commercial purposes with a view to maximizing shareholders’ wealth.

2 2 / 0 9 / 2 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

40

T H I S D AY • FRIDAY, SEPTEMBER 23, 2022

NEWSXTRA

ANTI-CORRUPTION WORKSHOP...

L-R: Chairman ICPC, Prof. Bolaji Owasanoye; Member House of Representatives Committee on Anti-Corruption, Hon. Mansur Manu Soro; Chairman of the Committee, Hon. Nicholas Shehu Garba and another Member of the Committee, Hon. Ken Chikere, during Anti-Corruption Workshop for the House Committee on Anti-Corruption in Abuja yesterday.

KINGSLEY ADEBOYE

House Invites Minister of Labour, DG Budget Office, AGF, SGF, Others over ASUU Strike FG: Union not accountable, in violation of Trade Union Act NANS vows to continue protest until strike is called off Onyebuchi Ezigbo in Abuja and Segun Awofadeji in Bauchi The Speaker of the House of Representatives Femi Gbajabiamila has invited the Minister of Labour and Productivity, Senator Chris Ngige; Secretary to the Government of the Federation, Head of Civil Service of the Federation, Accountant General of the Federation, Director General, Salaries, Income and Wages’ Commission, the Director General, Budget Office, among others to appear before the lawmakers next week Thursday.

The Speaker disclosed this yesterday, at the resumed factfinding meeting on strike embarked upon by ASUU. The Director General of National Information Development Agency (NITDA) and his counterpart in National Salaries, Income and Wages Commission and Budget Office are also expected at the meeting.

The lawmakers recently met with ASUU and the Minister of State for Education, with a view to resolve the ongoing strike.

The Director of Information Infrastructure at NITDA, Dr. Usman Abdulahi revealed that the University Transparency Accountability Solution (UTAS) also failed the integrity on three occasions, while IPPIS failed the only test it was subjected to.

“In the first test, the system UTAS failed. The system could not meet the requirement of NITDA’s criteria of assessing network," he said.

Abdulahi further said, "It was communicated to ASUU, a full report was submitted directly to ASUU. The second report was submitted through the office of the Minister. ASUU went back, did the review that NITDA recommended.

“In the assessment, we did in March this year, we spent two weeks carrying out the assessment in the presence of observers.

“At the end of the exercise, UTAS failed the due diligence test. Of course, ASUU agreed to work on the solution and resubmit for assessment,’’ he said.

Not satisfied with the explanation, Gbajabiamila asked if NITDA advised the government to take action on the lapses found on

IPPIS, which has been in operation by government since 2011. But the NITDA official said they were not in a position to do that.

Gbajabiamila also asked if NITDA queried IPPIS platform, to which the official responded in the negative.

The Deputy Speaker Wase also expressed reservations at NITDA's action, saying it ought to have advised government on the appropriate action to take in view of its discovery on IPPIS. Furthermore, the Head of Service, Mrs. Folashade Esan, said IPPIS is not just a payment platform, but also a human resources platform.

She noted that the only reason the system failed the platform was because NITDA only tested the payment component without the human resources component.

The acting Accountant General of the Federation, Mr Okolieaboh Sylva, said if UTAS is better than IPPIS, government would copy some things from UTAS to IPPIS. He, added that though government was interested in local content, it would not hand over its payroll system to any university.

After hours of deliberations, the Speaker suggested that a further follow-up meeting with ASUU officials be held on Thursday next week, which the stakeholders subscribed to. The meeting was, therefore, adjourned to Thursday next week.

FG: ASUU Not Accountable, in Violation of Trade Union Act In the meantime, the federal government has accused the leadership of ASUU of failing to submit the annual audited account of its finances as required by law for the past five years.

Owing to this, he said the union was in violation of the relevant section of the Trade Union Act requiring unions to submit their audited account to the Federal Ministry of Labour and Employment at the office of the Registrar of Trade Unions.

Ngige who disclosed this in Abuja, during a meeting with the Nigerian Association of Medical

and Dental Academics (NAMDA), a new group seeking registration, said ASUU risks losing its certificate of registration.

He said the law requires that the union and other registered trade unions to audit their account at least once every year and to indicate how they utilise the funds accruing from check off dues paid by their members.

However, he said: "ASUU has not responded to the relevant section of Trade Union Creation for submission of audited accounts.

"How do they utilise their money? The money they collect as check off dues, should be accounted for. So, the Trade Union Act says that in June of any given year, unions should produce audited account at the Federal Ministry of Labour and Employment for the Registrar of Trade Unions," he said.

Ngige said that the ministry had

written to ASUU to show cause, why it should not withdraw their certificate of registration.

"They have not responded to the letter. Rather, I learn that they came last Friday with bundles of papers and said they are their audited account. Of course, he rightly told them that ‘I didn't ask you for your audited accounts anymore. I need you to respond to my query on why disciplinary action should not be taken against you.’ If disciplinary action is taken against ASUU now, although I am restraining him, they will say that it is because we are in court.”

The minister said the reason no action had been taken against ASUU was because they would claim that the federal government was victimising them due to strike.

"They will say that we are being victimised because we are on strike. We are being punished.

Whereas, they have been running afoul of the law. Five good years, they have not tendered an audited account of their activities, at least, for the benefit of their members.

For now, you are their members.

They should give you account of how they spent your money. They have not done so, said Ngige.

While clarifying issues on the ASUU strike, Ngige said there was no reason for the prolonged industrial strike by the universities’ lecturers since almost all their demands have been addressed by government.

He said only two issues demand for deployment of the ASUU preferred salary payment platform, the University Transparency and Accountability Solution (UTAS) and negotiation of their conditions of service - were left to be addressed as at February when the union pulled out to commence

indefinite strike.

Meanwhile, following the over seven-month industrial dispute between the federal government and ASUU, the National Association of Nigerian Students (NANS) has vowed that its members would continue to occupy strategic points across the country until the strike action is called off and students return to the classrooms.

This was made by the Assistant Secretary General of NANS Zone E, Amtai Ali Saidu and Mallam Ibrahim Ibrahim the Chairman Gombe State NANS Stakeholders while addressing a press conference yesterday Bauchi.

According to the zonal leadership of the National Association of Nigerian Student NANS Zone E (North-East), NANS has taken the bull by the horns by deciding to halt operations at all international airports in the country

FG Accuses Atiku of Scaremongering, Says PDP’s Candidate Lacks Originality Blames Russia-Ukraine conflicts for inflation, low capital inflow Olawale Ajimotokan in Abuja The federal government has described former Vice-President and the presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar as a scaremonger and somebody that lacks authentic ideas to address the country’s socio-economic challenges.

The Minister of Information and Culture, Alhaji Lai Mohammed, who addressed the media yesterday in Abuja, shredded the main opposition presidential candidate’s economic blueprint that was unveiled in Lagos, describing it as a disingenuous attempt at copying all that the Buhari’s administration had done.

He said no amount of deceit, misrepresentation, distortion of facts or derogation by Atiku could subtract from the visible achievements of the Buhari’s administration.

The minister said across the country, the administration had through a combination of budget increase and innovative infrastructure financing methods constructed 8,352.94 kilometres

of roads, rehabilitated 7,936.05 kilometres of roads, constructed 299 bridges, maintained 312 bridges and created 302,039 jobs in addition to delivering houses in 34 states of the federation under the first phase of the National Housing Project.

Mohammed said contrary to Atiku’s pronouncement that the country’s economic outlook was bleak, the economy has rather exhibited resilience having recovered from two recessions in 2016 and 2020, and recorded 3.54 per cent growth in real terms in the second quarter of 2022 from 3.11 per cent in the first quarter of the year.

“I am not really very surprised that His Excellency the former vice president reeled out in his so-called economic blueprint, what we have been doing in the past seven years plus in infrastructure development, infrastructure financing, poverty reduction, power reform, job creation, relationship with the private sector, debt management and the overall management of the economy.

“That's what you get from someone who leaves the country

after losing an election, only to parachute into town when another election is due,” Mohammed remarked.

He tackled former vice-president for allegedly misrepresentation facts by asserting that the country under the APC-led government had consistently run on budget deficits since it came to power in 2015. According to him, the budget deficits were often above the three per cent threshold permissible under the fiscal responsibility law.

Rather, he noted the country has been running on budget deficits since 2009, even when oil prices were over $100 per barrel, adding the crash of oil prices from mid2014, resulted in the country’s economic recession in 2016.

He said: “The urgency to recover from the recession through an expansionary fiscal policy resulted in the continued budget deficits.

However, in the last three years, the deficit level exceeded the three per cent threshold stipulated in the Fiscal Responsibility Act 2007.

“Again, this is understandable because shortly after the Nigerian economy recovered from recession, it was hit by the effects of the

COVID-19 pandemic. What His Excellency failed to tell his audience is that the Fiscal Responsibility Act, Section 12(2), allows for the budget deficit to exceed the three per cent threshold if, in the opinion of the President, there is a clear and present threat to national security or the sovereignty of the Federal Republic of Nigeria.”

The minister added that although the country had recovered from economic recession, it has been impacted by the RussiaUkraine conflicts, the lingering impact of COVID-19 and elevated inflation in most economies, prompting monetary tightening with the adverse effects on capital inflow to emerging markets economies.

On Atiku’s comment that if elected, he would review the country's debt strategy by focusing on concessional and semi-concessional sources with lower interest rates and relatively long-term maturity, Mohammed also said that was already being done by the administration by maximising concessional borrowing from multilateral and bilateral sources.

41

FRIDAY, SEPTEMBER 23, 2022 • T H I S D AY

NEWSXTRA

9TH ANNUAL GENERAL MEETING...

L-R: Non-Executive Director; Afriland Properties, Ayodeji Adigun; Chief Executive Officer, Uzoamaka Oshogwe; the Chairman, Emmanuel Nnorom; and Company Secretary, Omomene Obanor at the 9th Annual General Meeting held at the Company’s Head Office in Lagos…. yesterday SUNDAY ADIGUN

Akeredolu: We’re Buying AK47 to Defend Our People Fidelis David in Akure Ondo State Governor, Oluwarotimi Akeredolu, SAN, yesterday, said the state under the doctrine of necessity, had decided to fulfil its legal, constitutional and moral duty to the citizens of the state, by acquiring sophisticated weapons, to protect them.

This was contained in a statement personally signed by the governor, where he lampooned the federal government for allegedly playing double standards with the nation’s security.

Akeredolu, in a statement titled: "We Believe in One Nigeria, But We Cannot Have One Country, Two Systems", wondered why Amotekun, a Southwest regional security outfit, could not bear sophisticated weapons despite continuous call for such, but her counterpart in Katsina State, established to tame bandits and terrorists, are bearing AK47.

The statement read: "The video making the rounds showing the equivalent of the Western Nigeria Security Network (Amotekun Corps) in Katsina, obtaining the approval of the federal government to

bear arms is fraught with great dangers. Denying Amotekun the urgently needed rights, to legitimately bear arms is a repudiation of the basis of true federalism, which we have been clamouring for.

"That Katsina was able to arm its state security force, with the display of AK47 means we are pursuing one country, two

systems” solution to the national question. If the Katsina situation conferring advantages on some, in the face of commonly faced existential threats, it means that our unitary policing system, which has failed, is a deliberate method of subjugation, which must be challenged.

"The Independence agreement was based on a democratic

arrangement to have a federal state and devolved internal security mechanics. We must go back to that agreement," Akeredolu stressed.

Akeredolu, who is the chairman of the South West Governors’ Forum, explained that denying Amotekun the right to bear arms, exposed the Southwest to life-threatening

marauders and organised crime, and it was a deliberate destruction of the region's agricultural sector and an existential threat.

"We want to reiterate, that what is sauce for the goose, is sauce for the gander. Ondo State government under the doctrine of necessity has decided to fulfil its legal, constitutional

and moral duty to the citizens of the state, by acquiring arms to protect them.

“This is more so, given that the bandits have an unchecked access to sophisticated weapons.

The state government cannot look on while its citizens are being terrorised and murdered with impunity. We will defend our people," Akeredolu added.

Ex-senate Aspirant to Court: Declare Ekweremadu's Seat Vacant Your demand is satanic, says Ohanaeze youths Gideon Arinze in Enugu A Peoples Democratic Party (PDP) aspirant for the Enugu West Senatorial District in the 2019 general election, Chief Ogochukwu Onyema, has asked a Federal High Court, to declare Senator Ike Ekweremadu’s seat vacant.

Senator Ekweremadu is currently in detention in London, the United Kingdom, over alleged organ harvesting. The senator and his wife are both standing trial over alleged organ harvest for their sick daughter.

In the suit marked FHC/EN/ CS/7/2022 and filed at the Federal

High Court, Enugu, Onyema also sought an order of the court mandating the National Chairman of the PDP, Dr. Iyorchia Ayu and PDP to “select, nominate, and forward” his name to the National Assembly “as a replacement” for Ekweremadu.

Onyeama also prayed the court to mandate the Chairman of the Independent National Electoral Commission (INEC), Prof.

Mahmood Yakubu and INEC to “withdraw or revoke, as the case may be, the Certificate of Return earlier issued to the 3rd defendant (Ekweremadu) and issue a fresh Certificate of Return” to him.

In an originating summons,

Onyema wanted the court to determine, among others, "Whether by virtue of the continuous absence of the 3rd defendant (Ekweremadu) from the Senate since 22nd day of June 2022 or days prior (when he last attended the sitting of the Senate), up till the date of adaptation of this Summons, or any other date thereafter, it could be said that the 3rd defendant is still validly representing the plaintiff (Chief Onyema) and Enugu West Senatorial District, as provided by the Constitution of the Federal Republic of Nigeria, and the Senate Standing Order 2015 as amended, in Nigeria Senate.”

But the youth wing of the apex Igbo socio-cultural organisation Ohanaeze Ndigbo Youth Council, has described Onyema’s action as satanic.

In a statement by its National President, Mazi Okwu Nnabuike, it said it was satanic for anyone to file such a suit against the lawmaker in the face of his current challenges.

“The council finds it agonising that any human being could come up with this kind of satanic and acidic suit against Senator Ike Ekweremadu," Nnabuike said in the statement.

He noted that the demand by Onyeama was even more cruel

coming at a time when it has been revealed that Ekweremadu was facing health challenges in detention.

"One expects any person with conscience to empathize with the lawmaker in the face of these challenges. As an Enugu West man, whom Ekweremadu is representing, he has never shown sympathy since Ekweremadu started going through all these difficulties" Nnabuike explained.

The council, therefore, called on the plaintiff to immediately withdraw the suit for the sake of posterity and human conscience as nobody was immune to health challenges.

Osinbajo: Defunding of Fossil Fuel Projects by Europe Faulty Alleges double standards in continent's return to coal fired power through 2023 Says action in violation of continent's climate commitment NNPC assures JV partners of prompt settlement of Cash-calls Peter Uzoho The Vice President, Prof. Yemi Osinbajo has knocked developed nations of the world, particularly the European countries, for their decision to force their financial institutions to stop funding of gas development projects, describing such decision as faulty.

Osinbajo also described as double standards, the return of European nations to coal fired power generation plants through 2023 and beyond, said that was in violation of the continent's climate commitment.

The vice president made the assertions last night in Lagos, while delivering a keynote speech

on "Nigeria's Transition to Green Energy," at the 60th anniversary of the Oil Producers Trade Section (OPTS), a group under the Lagos Chamber of Commerce and Industry (LCCI).

He said most countries including Nigeria have agreed on the need to reduce global emissions to zero and Nigeria had even fixed its target by 2060.

Noting that Nigeria and Africa were major victims of the effects of climate change, the country had raised a few important issues to the wealthier brother-countries in the global north.

According to him, the first issue countries in the developing world were faced with two rather

one crisis, listing climate change and extreme poverty as the two challenges confronting them.

Osinbajo said the cause and consequence of the two challenges was energy poverty, adding that the lack of access to electricity for millions was a cause of deepening poverty.

He added, "The third is that the defunding of gas projects in order to force gas rich countries like Nigeria to stop using gas and use renewables instead is faulty.

"These proposals to ban the funding of fossil fuel projects make no distinction between upstream oil and coal exploration; and gas power plants for grid balancing. Also no economy in the world has been

known to use renewables, solely, to industrialise.

“Solar power simply does not have the base load capacity yet for industry. Fourthly, stopping the use of gas means that we cannot use LPG for clean cooking stoves to replace the use of kerosene, firewood and charcoal which are dirtier fuels that are widely used for cooking and other domestic purposes particularly in the rural areas.

"The use of firewood means deforestation, cutting down trees and of course desertification and then the loss of our carbon sinks.

“The fifth is the double standards that wealthier countries have adopted on this issue. Today in the wake of the energy crisis, many

European nations have made recent announcements to increase or extend their use of coal fired power generation through 2023, and potentially beyond.

“This is in violation of their climate commitments, and analysis suggests that this will raise power sector emissions of the EU by four per cent - a significant amount, given the high base denominator of EU emissions."

Pointing out that the sixth and most crucial point was that Nigeria must take quick and informed actions in its national interest, he noted that the country must take the threat of no investments in fossil fuels including gas seriously.

He said many European and

other global North countries were setting aggressive targets for use of electric vehicles and the banning of combustion engine vehicles, warning that soon, there may be only a few countries using combustion engines.

"It is also evident that while the Russia invasion of Ukrainian has shown the double standards in not allowing public funding for fossil fuel projects, the wealthier nations are still of the view that this is the correct policy."

Also speaking at the occasion, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mallam Mele Kyari assured the company's joint venture (JV) partners of prompt settlement of their Cash-calls.

42

T H I S D AY • FRIDAY, SEPTEMBER 23, 2022

NEWSXTRA

LAIF AWARDS PRESS CONFERENCE...

L-R: Board member, Lagos Advertising and Ideas Festival (LAIF) Awards, Henry Akpede; Director, Association of Advertising Agencies of Nigeria (AAAN), Kemi Awonusi; President, Steve Babaeko, Chairman, LAIF Awards, Lanre Adisa, and Project Manager, LAIF Awards, , Segun Akinyemiju, at the LAIF Awards press conference held in Lagos.. yesterday

IG: Amotekun, Ebubeagu, Hisbah, Others Have No Role in 2023 Polls Says electoral act assigns them no responsibilities Retired IGs, ex-DIG battle to succeed Smith as PSC chair Kingsley Nwezeh in Abuja The Inspector-General of Police, Usman Baba, yesterday, warned that regional, quasi-security outfits have no role to play in the 2023 general election under the Electoral Act 2022.

The warning came as he ordered Assistant Inspectors-General of Police (AIGs) and the Commissioners of Police in the 36 States and the Federal Capital Territory to ensure adequate security in their areas of responsibility as political campaigns gather momentum.

In a related development, three former Inspectors-General of Police and a retired Deputy InspectorGeneral of Police are presently lobbying to succeed ex-IGP Musiliu Smith as the Chairman of the Police Service Commission (PSC).

However, at a meeting with AIGs and CPs in Abuja to review evolving political programmes released by the Independent National Electoral Commission (INEC), Baba declared that, "All quasi-security outfits established by various state governments and local communities operating under different nomenclatures, structures, and orientations have no legal roles under the Electoral Act and in the electoral process".

He, therefore, directed senior officers to ensure that they were not utilised by political or community actors for any role during the campaigns and other aspects of the electoral process as such would amount to illegality, threat to national security and inimical to the nation’s democracy.

The police chief charged all officers present to boost the security of their commands in order to guarantee a crime-free and enabling environment for political campaigns and other components of the electoral process.

He noted that following the announcement by the INEC for the commencement of electioneering campaigns by all political parties from 28th September, 2022, the national political space would become very active and susceptible to increase in politically-related offences.

He, therefore, directed senior police officers to discharge their duties before, during and after the electioneering process in line with the dictates of the Electoral Act 2022, the Code of Conduct and Rules of Engagement for Security Personnel on Election Duty issued in 2020 by the Inter-Agency Consultative Committee on Election Security (ICCES).

He urged them to work assiduously and engage an all-

inclusive approach by liaising with Resident Electoral Commissioners (RECs), leadership of political parties in their commands and all relevant stakeholders as well as increase intelligence gathering activities and upscale deployments to achieve the goal of re-energising the force to sustain a stable internal security order.

However, on the race for the

chairman ship of the Police Service Commission (PSC), Smith, who assumed office on July 25, 2018, resigned a few weeks ago on medical grounds.

Although some accounts alleged he was forced out of office by members of the board of the commission over his inability to exercise the constitutional mandate of the

commission on police recruitment.

A retired Supreme Court Justice, Clara Ogunbiyi took over from the former police boss.

The commission and the Nigeria Police leadership had been at loggerheads over the recruitment of police constables.

Though the Court of Appeal affirmed the commission's

constitutional authority to recruit constables into the police, the Nigeria Police authorities have continued to conduct the exercise and had appealed the court judgment on recruitment.

A recent move by the commission to conduct the exercise was stopped by the police, which described it as illegal.

You Can't Claim Our Communities, Ondo Tells Ogun Govt Fidelis David in Akure The Ondo State Government, yesterday, told the Ogun State government it could not claim its communities, clarifying that Irokun, Obinehin, Idigbengben and Araromi seaside communities in the Ilaje Local Government Area of the state were not part of Ogun State.

Ogun State government, Wednesday, through a press statement titled, ‘Purported chieftaincies in Irokun , Obinehin, Idigbengbe and Araromi seaside’, raised the alarm over the action by the Ondo State government, over the installation of traditional rulers in the communities, saying it has reported Ondo State Government to the National Boundary Commission.

Both Ondo and Ogun States share borders in the communities.

But the Ondo State Commissioner for Information and Orientation, Mrs Bamidele Ademola-Olateju, in a statement, faulted the claims of Ogun government, saying all the communities had a long history of traditional institutions within the state.

Ademola-Olateju, while clarifying that the coastal communities were not subject to dispute before the National Boundary Commission, stressed that the recognition of traditional institutions in the communities were in order as they remained an integral part of traditional institutions.

According to her, all the four communities had always been recognised by the Independent

National Electoral Commission (INEC) while they always conducted elections in the communities as part of Ondo State.

The statement read: “The press statement issued by Ogun State Government, based on the recent white paper issued

by Ondo State, recognising the traditional institutions of IROKUN, OBINEHIN, IDIGBENGBEN and ARAROMI seaside, has been brought to the attention of the Ondo State Government.

The Government has decided to respond as follows in order to set the records straight.

"That Irokun, Obinehin, Idigbengben and Araromi seaside are communities within Ilaje Local Government area of Ondo state.

These communities have a long

history of traditional institutions within the state. These communities are not in dispute between Ondo State and Ogun State as the people living therein are indigenes of Ondo State. In addition, the landmass occupied by these communities falls within the territory of the Ondo State of Nigeria.

“The claim that these communities are in dispute before the National Boundary commission is untrue, as the communities are within Ilaje Local Government of Ondo state. Federal institutions like Independent National Electoral Commission (INEC) regularly conduct elections in these communities and votes cast are recorded for the Ilaje Local Government of Ondo State", she stressed.

of Rivers State.”

"As a party, we are quite comfortable that in the course of time, these issues will give way for everybody to be on board. Atiku didn't say it’s time to move on because he wants to leave anybody behind; he is asking members of the party that it’s time for them to move on to talk about those issues that affect Nigerians.

"There are a whole lot of issues that affect us in this country and so Atiku said it’s time to move on, meaning that every hand has to be on deck to carry every Nigerian along and to address those many challenges that confront Nigerians in their everyday life today.

"Atiku is not just looking for anybody to come and vote, he is looking forward to unite every member of the party and, by extension, Nigerians so that at the end of the day, he would have been able to carry everybody along. He has asked everybody to come on board and we are quite optimistic that in the course of time, everybody will, indeed, be on board."

EMMANUEL: PDP CRISIS FESTERING BECAUSE PEOPLE FAILED TO WALK THE TALK Wike said no matter the disagreement with the leadership of the party, he would stay back to fight for unity, inclusivity, equity and peace in the PDP. He spoke yesterday at the Rivers State PDP stakeholders’ meeting held at Government House, Port Harcourt.

The governor said as a man of character, his interest was to stay back and preserve the sanity of the party, unlike some members, who could not keep their words and walked out of the party at Eagle Square, Abuja, in 2014.

He stated, “One thing I have always told people is if anybody is thinking, doing anything to think that we will leave PDP, it's never going to happen. We will do the fighting in the party.

We are not like them, when in 2014 they walked out from Eagle Square. They’ve forgotten. They walked out and joined APC. Is it not correct?

“Did they remain to fight inside the party? But we remained, they ran away. Now, there is a fight in the party, we will not run. We

will fight it in this party. Those who run away from fight are weak people. We will not. So, everybody should know this is the state where we are. So, that nobody tells you all kind of stories.”

Wike said ahead of the unveiling of the campaigns next week, "I owe this party in the state, we have 13 House of Reps seats, three senatorial seats, 32 House of Assembly seats and we have governorship post, we are going to take all for the PDP." He insisted that the constitution of the party clearly stated that elective and party offices must be zoned, saying this should be respected.

He wondered why the former PDP BoT chairman, Walid Jubrin, would be pressurised to resign and the PDP national chairman, Senator Iyorchia Ayu, was excusing himself from doing what was right.

According to Wike, “You have taken presidential candidate, you have taken party chairman, you have also taken the DG (director general) of the campaign. We

are talking about party politics.

Decisions are made by the presidential candidate, chairman of the party, and the DG of the campaign.

“They are telling you they told the chairman of the BoT to resign.

So, you know there is a problem.

You said he should go and resign.

You can put pressure on him to resign, when his tenure hasn’t come to an end. But you cannot put pressure on the chairman to resign. You think at our level you will deceive us? You’ll tell us stories.”

The governor recalled how in 2015, the federal government allegedly used the military to invade Rivers State, interfered with and even annulled elections, but was resisted. He also recalled that he made sure the senatorial results for Rivers East were announced, which delivered Senator George Sekibo, and also that of Rivers West that produced Senator Betty Apiafi.

Wike regretted that despite the risk taken to deliver them, the same people were now in Abuja

plotting against him, adding that they would not succeed because God has blessed him.

He also clarified that he never promised anybody the governorship ticket of PDP, despite the pressure some leaders mounted on him or attempts made to divide the House of Assembly. He said though he didn't clinch the PDP presidential ticket, he gave a good account of himself at the primary.

The governor stated that by next week, the Rivers State PDP campaign team would be unveiled and the campaign pattern adopted would be based on each local government’s peculiarity.

He emphasised that all PDP candidates in the state would be returned elected by Rivers people, because they were satisfied with the performance of his administration.

He stated, “We will take all.

We are taking all, because Rivers people are happy with what we have done in this state. We have not only provided infrastructure, we have also defended the interest

Wike: Atiku Still Open to Dialogue, Says Spokesman Spokesperson of the PDP Presidential Campaign Council, Mr Charles Aniagwu, said the party’s presidential candidate, Atiku Abubakar, was still open to dialogue with Wike and his group.

Aniagwu, who spoke on Arise Television Wednesday night, said Atiku's reaction to the alleged boycott of the Presidential Campaign Council by Wike's group was not a foreclosure of further reconciliation with the group and other stakeholders in the party.

He said Atiku's call on the party to move on was a call to focus on the real issues bothering Nigerians and not necessarily meant to leave any stakeholder behind.

Aniagwu stated, “We don't have any faction in the party; just a group with interest, which is allowed, democratically.

FRIDAY SEPTEMBER 23, 2022˾ T H I S D AY

43

NEWS

PROMOTING GOVERNMENT’S SECURITIES…

L-R:Team Leader, Project Unit, Debt Management Office (DMO), Dr. Isiaku Mohammed; Lead, Sales Northern Region, CSL Stockbrokers Limited, Mrs. Foluke Samuel; Assistant Director, Debt Recording and Settlement,DMO, Mrs. Lami Yakwo, and Manager, Yola Branch, First City Monument Bank (FCMB), Mr. Kamaluddeen Bappa, during an awareness programme on Federal Government Securities Issuance organised by DMO and CSL Securities (a subsidiary of FCMB Group) in Yola, Adamawa State

Security Forces Launch Manhunt for Terror Financier, Alhaji Abubakar Troops eliminate 56 insurgents, arrest 88, 368 terrorists, families surrender

Kingsley Nwezeh in Abuja The Defence Headquarters

(DHQ), said yesterday that security forces launched a manhunt for suspected terror

Danbatta Applauds Media for Aiding Telecom Awareness The Executive Vice Chairman of the Nigerian Communications Commission(NCC), Professor Umar Danbatta, has said that the level of awareness of the potential of telecommunications products and services is a credit to the media industry which has partnered with the Commission in the regulatory process.

Danbatta, who was the keynote speaker at the dinner hosted by the Board of Trustees of the Nigeria Media Merit Award, NMMA, to flag off the commemoration of the 30th Anniversary of NMMA as Africa’s foremost media excellence recognition institution, in Lagos on Tuesday, said this is why the telecom regulator holds the media at very high esteem.

At the event where the Director,

Public Affairs of the NCC, Mr. Reuben Muoka, presented the keynote on behalf of Danbatta, the CEO of NCC sought greater collaboration with the media describing the media systems of communication as central to social progress and are thus critical partners the NCC requires to succeed in its determination to consolidate the gains of telecommunication.

Dwelling on the topic, “The NCC New Strategic Vision (Implementation) Plan (SVP) 2021-2025: A Transformation Agenda”, which signposts the direction of the Nigerian telecom industry in the next five years, Danbatta recalled the trajectory of the evolution of telecoms in Nigeria.”

financier identified as Alhaji Abubakar.

This came as it said troops killed 56 terrorists and arrested 88 across all theatres in the past two weeks even as 368 terrorists and their families surrendered to troops in the North-east between 8th and 22nd, September, 2022.

At a media briefing in Abuja, Director, Defence Media Operations (DDMO), Maj Gen Musa Danmadami, said two terrorists were arrested at Access

Bank, PZ Branch in Zaria Local Government Area of Kaduna State while attempting to withdraw N14 million deposited by the said Alhaji Abubakar.

“Troops of Operation Hadarin Daji have continued to intensify offensive actions against terrorists and other criminal elements in their operational environment.

“On September 15, 2022, troops arrested two suspected terrorist collaborators at Access

Bank, PZ Branch in Zaria Local Government Area of Kaduna State while trying to withdraw the sum of 14,000,000.00 deposited into the account of one Alhaji Abubakar a suspected terrorist financier”, he said.

He said two Boko Haram commanders were killed in the North-east, while 12 Islamic State of West African Province (ISWAP), logistics suppliers were also arrested by troops in the North-west theatre within the

period under review.

Speaking on operations in the South-east, he said two notorious gunrunners transporting dangerous weapons from Onitsha, in Anambra State to the Federal Capital Territory (FCT), were intercepted in Okene, Kogi State.

He said troops also conducted operational activities in villages, communities and towns in Sokoto, Zamfara, Katsina and Kaduna States.

2023: Tinubu Has Proven Track Records of Progressive Governance, Says APC Group Adedayo Akinwale in Abuja The All Progressives Congress (APC) Young Stakeholders has called on young Nigerians not to allow their emotions to deny them the chance of rallying round the presidential candidate of APC, Asiwaju Bola Tinubu, who it said has a proven track record of progressive governance.

It said for a very long time,

Nigerian youths have not been given their pride of place in the society especially in governance and public administration, but assured that this would not be the case with Tinubu’s government as he recognises the enormous potential in the Nigerian youth and middle aged needed to build the country that works for everyone.

The Convener of the group,

Mr. Aliyu Audu, stated this yesterday while addressing a press conference in Abuja.

According to him, “We must not let emotions deny us the chance of rallying round the right leader for the tasks ahead based on demonstrated visionary leadership, competence, capacity, character and Content. The nation is ours and it is our responsibility to build it in ways that serve the

interest of the majority of the citizens working with Asiwaju Bola Ahmed Tinubu, a leader with proven track records of progressive governance.

Aliyu also described the appointment of Kogi state Governor, Yahaya Bello as National Youth Coordinator for the APC Presidential Campaign as a call on Nigerian youths to gravitate towards a common goal.

Ugwuanyi Preaches Peace 2023 Polls Vital for Nigeria’s Survival, Nasarawa PDP Leaders, Elders Declare one that cannot be faulted, adding The PDP leaders and elders from did not have their support.

Chuks OkochainAbuja for Devt of Enugu that PDP has always been known Nasarawa State pointed out that According to them, “In the early

Governor Ifeanyi Ugwuanyi of Enugu State, yesterday said that it is his utmost desire for all communities in the state to live in peace and harmony for steady progress and development of the state.

Ugwuanyi stressed that the biggest gift he needs from the people of Enugu State is peace.

The governor made the assertion when the people of Mgbowo Community in Awgu Local Government Area of the state visited him at the Government House, Enugu, to appreciate his good works and peaceful disposition as well as his considerable concern for their well-being and concerted

efforts in addressing myriads of their socio-economic challenges.

The people of Mgbowo, led by the Commissioner for Science and Technology, Sir Obi Kama, visited to declare their unflinching support for the Ugwuanyi-led Peoples Democratic Party (PDP) leadership in Enugu State, the governorship candidate of the PDP in the 2023 general election, Peter Ndubuisi Mbah, his running mate, Ifeanyi Ossai, and the candidates of the party for Enugu West Senatorial District, Aninri/Awgu/Oji-River Federal Constituency and Awgu South Constituency, Engr. Osita Ngwu, Engr. Anayo Onwuegbu and Tony Nwankwo, respectively.

Flood: HYPPADEC to Construct Houses in Catchment Areas

Laleye Dipo in Minna

The Hydro Power Producing Areas Development Commission (HYPPADEC), would construct houses in new settlements for those displaced by the ravaging flood in most riverine communities in Niger, Kogi, Kebbi and Kwara States.

A total of 250 units of houses are to be constructed in the first phase of the resettlement

scheme designed to protect the communities from the incidents of flood annually.

The Managing Director of HYPPADEC, Mr. Abubakar Yelwa, disclosed this in Minna on Wednesday after receiving “the Prestigious Corporate Award of Leadership Achievers Award of Excellence” from the Zonal Chairman of the Campaign for Democracy Human Rights Advocacy, Dr. Abdullahi Jabi.

Leaders and elders of the Peoples Democratic Party (PDP), in Nasarawa State have described the 2023 general election as very vital for the survival of Nigeria, stressing that for any group to pull out of the presidential campaign council of the party is ill-advised.

They pointed out that the need for realignment of party positions is

to take this fact into consideration.

The leaders and elders said this in a statement yesterday signed by Hon. Abdulkarim Usman, a member of House of Representatives, Baba Gbefwi, Senator Sulaiman Adokwe, Hon. Jibril Sabo Keana, Hon. Musa Bako Karshi, Chief Micheal Abdul and Dr. Eng. Kefas D. Kaura in Abuja.

as a democratic party governed by rules and regulations, the desired ends can only be achieved through an orderly process.

They stated, unequivocally, that the decision to withdraw participation in the PDP Presidential Campaign Council taken by this group at the eve of commencement of campaign for the general election

hours of Wednesday, the 21st of September 2022, some leaders of our great party, the PDP, addressed the press declaring their decision to withdraw from the Presidential Campaign Council which our party painstakingly constituted to prosecute the general elections scheduled for February and March 2023.

2023: Oyo Youth Group Backs Re-election of Makinde Kemi Olaitan in Ibadan A youth group, South-west Elite Youths Vanguard, in Ona-Ara Local Government Area of Oyo State, yesterday threw its weight behind the re-election bid of Governor Seyi Makinde.

The Coordinator of

the group, Ayokunnu Ayoade, while speaking at a solidarity rally, held in Ibadan, said the youths are proud of the governor who according to him is a good ambassador of the local government and Oyo State as a whole.

According to him, the

rally became necessary for them to appreciate, mobilise and support Makinde towards the realisation of his 2023 re-election, noting that the governor has good chances of returning in 2023 considering what he has been doing since he became the governor of the state.

Ayoade, however, urged members of the Peoples Democratic Party (PDP) to resolve their differences and embrace one another so that the party can emerge victorious during the 2023 general elections both at the state and national levels.

Pro-Edevbie Group Gears Up for Guber Campaign in Delta

Omon-Julius Onabu in Asaba

As official campaigns for the 2023 general election are about to begin, members of the Peoples Democratic Party (PDP) in Delta State supportive of the governorship ambition of OlorogunDavid Edevbie, under the political support organisation,

Delta Unity Group (DUG), has put in place serious campaign plans towards the realisation of Edevbie’s governorship dream.

More than 1,000 chieftains and members of the PDP and the DUG, who are drawn from the 25 local government areas of the state, on Wednesday converged on Uro in Isoko South Local

Government Area of the state as the DUG inaugurated its operational organs ahead of the campaigns.

Former Chairman of Delta State Association of Chairmen of Local Governments of Nigeria (ALGON), Sir Itiako Ikpokpo, hosted the event including the swearing in of members of the

group’s Board of Trustees (BOT), National Executive Council (NEC) and local government coordinators of the DUG. The group said that while they were strong members of the PDP they also believed in the competence and capacity of Olorogun David Edevbie to lead the state to greater prosperity.

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FRIDAY SEPTEMBER 23, 2022 ˾ T H I S D AY

HAPPY RETIREMENT…

L-R: Former Biology Teacher/Principal, Ansar-Ud-Deen High School, Surulere, Alhaja Wosamot Adegoke; National Chief Missioner, Ansar-Ud-Deen Society of Nigeria, Sheikh AbdulRahaman Ahmad; Board of Trustee (BoT) Chairman, Ansar-Ud-Deen High School Old Boys’ Association (AHOSA), Alhaja Rafiu Adisa Ebiti; AHOSA President, Mr. Rafiu Williams, and member BoT/ Welfare Chairman, AHOSA, Alhaji Waliu Onibon, during a send-off party for the outgoing Principals of the school in Lagos... recently ETOP UKUTT

Envoy: China Not Taking Over Nigeria’s Critical Assets as Debt Repayment Ambassador of the People’s Republic of China to Nigeria, Mr. Cui Jianchun, has said that his country has no intention of taking over Nigeria’s critical

assets as repayment for loan in the event of default.

Jianchun made this known during the visit of the Chinese Special Representative on African

Lagos Assures Residents of Timely Completion of Lekki-Epe Expressway The Lagos State government has reassured residents of the timely completion of the LekkiEpe Expressway with advice to motorists to obey the traffic signs at the construction site.

The Special Adviser on Works and Infrastructure, Mrs. Aramide Adeyoye said this yesterday, after visiting the Awoyaya Axis of the Epe Expressway together with several stakeholders like Craneburg Construction, Lekki Estate Resident Association (LERSA) and others, in response to the complainant about the ongoing construction work on the expressway (from Eleko to Abraham Adesanya).

Speaking during the inspection, Adeyoye said attitudinal change on the part of motorists and commuters would help a great deal in bringing sanity to the road as construction intensifies on the Lekki-Epe Expressway.

Adeyoye said the Lagos State government was aware of commuters and residents’ pains but was set to replicate the feat from 18 kilometres of Phase I of the Lekki -Epe Expressway, from Eleko Junction to Epe, which is 95 percent completed, by delivering one kilometre per month on the 16 kilometres, Phase II of the project, which is from Eleko Junction to Abraham Adesanya.

Affairs, Liu Yuxi to Nigeria’s Minister of State for Foreign Affairs, Zubairu Dada yesterday in Abuja.

According to the News Agency of Nigeria (NAN), the visit of the Chinese Special Representative to Africa is geared at strengthening the already strong bilateral relations between Nigeria and China.

He expressed the willingness of China to work with Nigeria

for the benefit of both countries.

Jianchun said that China and Nigeria are working on the bases of mutual trust and that his country has no intention whatsoever to take over Nigeria’s assets in a situation where Nigeria failed in the repayment of the loan it took from China.

He added that it is not part of the agreement reached between the two countries as insinuated in some quarters.

Yuxi, while expressing the Chinese government’s full commitment to improved bilateral relationships with Nigeria, appreciated Nigeria for upholding the One China Policy.

He said China just like Nigeria will continue to support the policy of Non-interference at the International level.

The special envoy stressed the need for China and Nigeria to

strengthen their collaboration, especially in the area of climate change as he pledged his country’s zeal to continue to support Nigeria in the fight against terrorism through military cooperation.

Yuxi said with the successes recorded in the fight against Covid 19, China will now strengthen its exchange programmes with Nigeria for more knowledge sharing.

Bandits Kill 12 in Benue Communities

George Okoh InMakurdi

Twelve people have been reportedly killed and several other seriously injured following an attack on two communities in Logo Local Government Area of Benue State.

Security agencies also repelled an attack on Ortese and Mkohol areas of Guma Local Government Area, Governor Samuel Ortom home country, where a soldier

slumped and later died at an undisclosed hospital Briefing newsmen yesterday, at Government House, Makurdi, Special Adviser to Governor Samuel Ortom on Security, Col. Paul Hembah (rtd) said the attack occurred simultaneously in Mchia and Mou villages.

He said while 10 persons were killed in Mchia, two persons were killed in Mou.

“I received a distress call from an indigene of the area and quickly informed security agencies, Police, Operation Whirl Stroke(OPWS) and Civil Defence but before they could get there, the damage had already been done and the gun men fled.

“In Guma, the same bandits attempted to attack but were heavily repelled by men of OPWS who laid siege on them

and even killed and injured some of the bandits who in turn burnt down 5 motorcycles belonging to the soldiers.

In another incident, three persons were abducted in Tu Mu and two houses razed as a result of renewed crisis between Iharev(indigenes) and Iparev(settlers) that led to the latter blocking the Makurdi-Gboko Federal Highway.

Buhari Commended for Appointing Ndiomu as Amnesty Programme Administrator Land Dispute: Court Fixes Oct. 11 to Hear BUA Cement, Sokoto Communities Suit Onuminya Innocent in Sokoto

The Sokoto State High Court, which was presided over by Justice Kabiru Muhammad, has fixed October 11 to hear the suit filed by some host communities against the BUA Cement Company and the Sokoto State Government over land disputes.

The Trial Judge, Justice Kabiru Muhammad, made the adjournment when the case came up for hearing to enable the respondents counsel to prepare

their defense in the suit.

At the sitting, Counsel to the State Government, Mr. Abdulrahman Wasahu, was absent and requested was made by the company’s Counsel, for more time to prepare and file his response.

In the statement of claim filed in the court, the Plaintiff Counsel, Mr. Kasimu Sauwa, prayed the court to interprete the alleged attempt by the company to take over land within the communities in line with the Land Use Act.

Govs’Wives, Monarchs, Elumelu, Others Named Patrons of World Peace Organisation The First Lady of Kwara State and the Founder of Ajike People Support Centre, Dr. Olufolake Abdulrazaq, and her counterpart, First Lady of Lagos State, Dr. Claudiana Ibijoke Sanwo-Olu, have been appointed as the North Central and South West Patrons of the World Peace Organisation (WPO) respectively.

The appointments was conveyed in a letter to mark the International Day of Peace also officially known as World Peace

Day, which is a United Nationssanctioned holiday observed annually on September 21 devoted to strengthening the ideals of peace, both within and among all nations and peoples.

The Director-General, Office of the World Peace Organisations’ Committee in Nigeria, Professor Olumuyiwa Babalola, in a statement dedicated the International Day of Peace for peaceful coexistence among the citizens and communities in Nigeria.

Blessing Ibunge in Port Harcourt

Ex-agitators have lauded President Muhammadu Buhari for not allowing any vacuum in the Presidential Amnesty Programme (PAP) and thanked him for the appointment of Major General Barry Ndiomu, as the new Interim Administrator

of the amnesty programme.

This as the group have also declared their support for the new Amnesty boss.

The National Secretary, First Phase Ex-agitators, Pastor Nature Dumale Keighe, in a statement yesterday, in Port Harcourt, Rivers State said they would give Ndiomu a similar support they extended

to his predecessor, Col. Milland Dikio (rtd).

Keighe, who is also the Chairman of PAP’s Strategic Communication Committee (SCC) described Ndiomu as a leader and father. He appealed to him to continue with some ongoing programmes initiated

by PAP that had helped to sustain the peace in the region.

He said the sole responsibility of ex-agitators was to work with him to promote the peace and development of the Niger Delta.

Keighe said: “We want to formally appreciate Mr. President for not allowing any vacuum in PAP. We want to appreciate him for appointing Maj.-Gen. Ndiomu (retd) as the new Interim Administrator, PAP.

Lawmakers Reject Plea to Suspend Bill Establishing Transportation University in Katsina, Others

Udora OrizuinAbuja

Members of the House of Representatives, yesterday, rejected plea to stop bills seeking the creation of more tertiary institutions amidst cash crunch, insisting that they promised their constituents tertiary institutions during campaigns.

At the plenary, the Speaker, Hon. Femi Gbajabiamila, had during the debate on a bill to establish

the University of Transportation, Daura, Katsina State, urged his colleagues to agree to suspending all tertiary education establishment bills in line with the recommendation of the Academic Staff Union of Universities.

Gbajabiamila’s plea followed the contribution of Hon. Ifeanyi Momah, who opposed the establishment of the school. Momah argued that the federal government should instead

upgrade the National Institute of Transportation Technology, Zaria to a federal university.

“I’m just thinking aloud because we have the NITT – Nigeria Institute of Transport Technology – in Zaria. When there is an institute of transport technology, which deals with the science of transportation itself. Why are we now looking at establishing a Federal University of Transportation?

We can amend the enabling law, the Act and upgrade the NITT to a federal university.

“Why I’m saying this is that the constant proliferation of universities in our country is not helping us.

That is the truth! We have so many universities here and there. We have so many university bills and at the end, when they are approved, we will be talking about funding, no funding,” he said

UNICEF Appeals to Kano Assembly to Sign Child Rights Bill Ibrahim Shuaibu in Kano The Kano State Field Office of the United Nations Children Fund (UNICEF) has appealed to the state House of Assembly to pass into law the Child Rights Bill.

The Child Protection Manager for UNICEF, Kano Field Office, Mrs. Emelia Allan, made the

appeal during her presentation at a two-day capacity building workshop for media practitioners held in Kano, expressing happiness that out of 36 states in Nigeria, only four have not been able to sign the Child Right Act. The UNICEF official urged the Kano state Government to, as a matter of urgency, ensure

the passing as well as signing the Child Protection Act into law to further strengthen child rights and protection in the state.

She encouraged Kano, Bauchi, Adamawa and Gombe States to do the needful by signing the Child Right Act so as to ensure the welfare and protection of the child.

Allan also decried that Kano State is registering the birth of only 54.6 percent of under-five children.

She said: “Kano State should wake up in this direction. More children need to be registered.

We know the authorities are doing their best, but we need to do more.”

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FRIDAY SEPTEMBER 23, 2022 ˾ T H I S D AY

NEWS XTRA

Osinbajo Wants Increased Participation of Women in Politics Deji Elumoye in Abuja The Vice President, Prof. Yemi Osinbajo has canvassed for a larger involvement and participation of women in government and politics saying it would have a major impact on the country’s socio-economic future and overall national development.

Osinbajo spoke yesterday, as the Special Guest of Honour at the 2022 Women Directors’ Conference in Abuja.

In a pre-recorded message on the theme of the Conference: Facing Forward - The Evolving Nature of Boards in a Rapidly

Changing World, the Vice President advocated for more female representation in leadership positions in government and across different sectors, “as an economic imperative and not a moral duty of men or mere concession by men.”

His words, “a country that keeps down half of its productive demography is bound to perform sub-optimally. But the issue is not just board representation, it is about representation in politics and government this is where major decisions affecting our lives are made. But perhaps, most importantly, it is about

education of girls.

“The high levels of female illiteracy is dangerous from all possible standpoints. If half your population is uneducated, it means that development and being competitive in a knowledge-driven world will not happen or will happen too slowly to be of much use.”

Commenting on the importance of girl-child education to national development, Osinbajo stressed that “educated women means educated children, and this is the pipeline for women who will become CEOs, legislators, government officials and bureaucrats.

Judge Advises Govt to Invest in Inmates’Rehabilitation A judge of the High Court of Lagos State, Atinuke Oluyemi, has called on governments at all levels to invest in the reformation and rehabilitation of inmates of correctional centres across the country.

She said the step would help the inmates to be better citizens when released from the centres.

Justice Oluyemi made the call in a lecture titled, ‘Inmates entrepreneurial empowerment as a strategy for crime curtailment,’ which she delivered at the matriculation and graduation of Onesimus Project held at Medium Security Prisons in the Kirikiri area of Apapa, Lagos.

The project is a life recovery pre-release empowerment programme of the Prison Fellowship Nigeria in conjunction with its partners, Nigerian Correctional Service, Covenant University as well

CHANGE OF NAME I formerly known and addressed as AMAEFULE CHIJIOKE HOPE, now wish to be known and addressed as ARIWAODO CHIJIOKE HOPE. All former documents remain valid. The general public should please take note.

I formerly known and addressed as OYAKHIRE FRANCES ESIVUEMEH, now wish to be known and addressed as CHINAKWE FRANCES ESIVUEMEH. All former documents remain valid. The general public should please take note.

I formerly known, called and addressed as OSADEBE SHARON DEBORAH, now wish to be known, called and addressed as MARZ SHARON DEBORAH. All former documents remain valid. The general public should please take note.

I formerly known and addressed as COMMANDER GODDAY SELKEGBA, now wish to be known and addressed as COMMANDER GODDAY FAVOUR EBIKEGBA. All former documents remain valid. The general public should please take note.

I formerly known and addressed as OLADEJO OLANIKE KAFILAT, now wish to be known and addressed as BADIRUDEEN OLANIKE KAFILAT. All former documents remain valid. The general public should please take note.

I formerly known and addressed as MBA CHIOMA RITA, now wish to be known and addressed as FABIAN CHIOMA RITA. All former documents remain valid.

The general public should please take note.

I formerly known and addressed as MURITALA ABISOLA ZEENAT, now wish to be known and addressed as AJAYI ABISOLA ZEENAT. All former documents remain valid. The general public should please take note.

Small and Medium Enterprises Development Agency of Nigeria.

The judge made a case for better funding of the nation’s correctional centres, adding that officials must be well enumerated.

She said: “Correctional centres undisputedly are primary

partners with other collaborators (police; ministries of justice and judiciary) in criminal justice administration in the country; and as such deserve to be better funded by the government and configured to rehabilitate inmates; while officials must be well remunerated.

FG Unveils Programme for 62nd Independence Anniversary Olawale Ajimotokan in Abuja The federal government unveiled activities lined up for Nigeria’s 62nd Independence Anniversary billed for October 1.

The Minister of Information and Culture, Alhaji Lai Mohammed, who reeled out the activities yesterday, at a media briefing also attended by the Permanent Secretary Political and Economic Affairs Office, OSGF, Shehu Ibrahim. As part of the activities, he said there would be a church service at the National Christian Centre, Central Business District, on September 25.

That would be followed by a public lecture focused on National Unity on September 29 at the State House Conference Hall from 10 a.m.

Additionally, there would be a Special Jumaat Prayers at the National Mosque, Central Business

District on September 30th 2022, followed by Presidential Broadcast on October 1, at 7 am.

Mohammed said that later on same day, there would be a Military Parade at the Eagle Square starting at 10am.

The minister also announced that the award of National Honours would be held as part of the 62nd Independence Anniversary on October 11th 2022 in Abuja.

He said the Minister of Special Duties and Intergovernmental Affairs, Senator George Akume, would give the full details about the award later

Barrels.ng Retail Centre Opens in Lagos

Barrels.ng, Nigeria’s preferred online store for premium alcoholic beverages will officially open its CHANGE OF NAME Lagos retail experience centre a grand ceremony tagged I formerly known and addressed in ‘Hennessy Night’ today, Friday as RAJI AISAHAT, now wish to be 23rd of September 2022. known and addressed as OLAOThe new posh retail centre, SUN AISHAT ANIKE. All former located on the highbrow Isaac documents remain valid. The gen- John Street in Government eral public should please take note. Reserved Area(GRA) Ikeja, has quickly become the rave I formerly known and addressed as of socialites and foremost oneOKESADE OLUWABUNMI OMO- stop hub of exotic spirits and RINSOLA, now wish to be known wines since it opened its doors and addressed as OKESADE OLU- to customers recently. Now that WABUNMI ESTHER. All former the official grand opening of documents remain valid. The general the centre is here, the owner of Barrels.ng, Mr. Ade Olabode, public should please take note. has expressed his excitement on I formerly known and addressed as the trajectory of a unique idea MIRIAM EGO OZEGBE, now wish that is redefining the customer to be known and addressed as experience in premium liquors MIRIAM EGO EBIGBO. All former supply in Nigeria.

“Since we opened the barrels. documents remain valid. The gen- ng as an online store of premium eral public should please take note. alcoholic beverages a few years I formerly known and addressed ago, we have upped the ante delivery of satisfying value as ASHIRI FAUSTINA CHINASA, in to our numerous customers. now wish to be known and ad- Now, we are opening this new dressed as ASHIRI FAUSTINA experience centre as a retail ANUOLUWA. All former docu- hub where everyone can come ments remain valid. The general in to have extraordinary tasting public should please take note. experiences of their favourite CONFIRMATION OF NAME spirits and wines, buy to take This is to inform the general pub- home or order to be delivered lic that I, OBILONU DONALD, is to them at events.”

“I’m greatly excited as our the same as OBILONU DONALD grand opening promises to be EZE, the EZE was wrongly omitted a statement of service excellence in my name. All other documents and customer-centric indulgence remain valid, the general public like never before, and everyone should please take note. is welcome,” Olabode said.

WORLD OF ISLAM

Edited by: MJO Mustapha Email deji.mustapha@thisdaylive.com

Why We Should Learn the Quran By: Amina Bello/IslamiCity

T

he Qur’an is the holy book of Islam which contains beautiful words of Allah (SWT). The Qur’an was revealed to Prophet Muhammad (SAW) through Angel Jibreel in the cities of Mecca and Madina beginning in 610 and ending with Muhammad’s death in 632 CE. The holy Quran is indeed a blessing sent by Allah (SWT) to guide us to the right path. It represents not only the words of the Almighty, but it illustrates the divine guidance for every Muslim.

Connecting with the Qur’an brings a Muslim closer to the Creator, which is an incredible blessing in this life, and will be a source of big reward in the hereafter.

Learning the Quran is a very important act in Islam that brings invaluable rewards from Allah (SWT). Entirely, it is one of the best things to do to earn good deeds, get closer to Allah (SWT), and enter Jannah (Paradise).

The benefits of learning the Quran are truly unlimited, but the main benefit of it is guidance towards the straight path.

Islam emphasizes the importance of learning, and this is demonstrated in the first Ayah that was revealed to Prophet Muhammad (SAW) in Surah Al-Alaq Ayahs 1-5: “In the Name of your Lord Who has created (all that exists). He created man from a clot (a piece of thick coagulated blood). And your Lord is the Most Generous. Who has taught (the writing) by the pen?

He has taught man that which he knew not” [Quran 96:1-5].

Additionally, it has been narrated by `Uthman that Prophet Muhammad (SAW) said, “The best among you (Muslims) are those who learn the Qur’an and teach it.” (Bukhari).

This Hadith illustrates that the best people are those who are associated with the Quran- by learning it and conveying its beneficial knowledge; thus, emphasizing the importance of learning the Qur’an.

The Qur’an is superior to any other speech. For instance, it has been narrated by Abu Musa Al-Ashari that the Prophet Muhmmad (SAW) said, “The example of him (a believer) who recites the Qur’an is like that of a citron which tastes good and smells good. And he (a believer) who does not recite the Qur’an is like a date which is good in taste but has no smell. And the example of a dissolute wicked person who recites the Qur’an is like the Raihana (sweet basil) which smells good but tastes bitter. And the example of a dissolute wicked person who does not recite the Qur’an is like the colocynth which tastes bitter and has no smell.”

(Bukhari).

There are numerous reasons why you should learn the Quran: 1. Learning Quran guides you to the right path.

The Holy Quran is the words of Almighty Allah and the source of guidance to all mankind. Learning the Quran will help you make the right decisions and follow the right path to succeed in this life & hereafter.

As Allah (SWT) said: “This is the Book (The Quran) about which there is no doubt, a guidance for those conscious of Allah” (Quran 2:2) 2. Learning the Quran gives a better understanding of our purpose of existence.

The Quran gives an insight into how to live with a purpose to serve Almighty Allah and many verses of the Noble Quran speak about the origins of the existence of human beings and this Universe.

In the Holy Quran, Almighty Allah says: “He created death and life to test you as to which of you is best in deed.” (Quran 67:2) 3: Learning the Quran increases your faith (Iman).

There is no doubt that the Quran is a great source of guidance towards Islam.

Almighty Allah says in the Holy Quran: “And when a surah is revealed, some of them ask “which of you did this increase him in Iman?”. As for the ones who believe, it increased them in Iman and they rejoice.” (Quran 9:124).

4: Learning the Quran raises your status in the eyes of Allah.

If you want to be among those who are the best in the eyes of Allah, learn the Quran, excel in it, then teach it to others. This is from the characteristics of the believers who followed the prophet Muhammad (PBUH).

In this regard, the prophet Muhammad (PBUH) said: “The best among you (Muslims) are those who learn the Qur’an and teach it.” (Bukhari).

5: Purification of heart.

When a Muslim recites the Quran, it purifies the heart by cleaning it from all the impurities that stick to it.

Almighty Allah says in the Quran: “O mankind!

There hath come to you an admonition from your Lord and a healing for the (diseases) in your hearts and for those who believe a Guidance and Mercy.”

(Quran 10:57) 6: Quran recitation brings many rewards, benefits, and virtues.

Reciting the Quran brings many rewards and blessings from Allah (SWT). Muslims will earn great rewards for reciting the Quran, especially if it’s recited daily.

In this regard, our beloved Prophet Muhammad

(PBUH) said: “If anyone prays at night reciting regularly ten verses, he will not be recorded among the negligent; if anyone prays at night and recites a hundred verses, he will be recorded among those who are obedient to Allah; and if anyone prays at night reciting one thousand verses, he will be recorded among those who receive huge rewards” (Sunan Abu Dawood).

7: Reading the Quran guards us on the Day of Resurrection.

Abu Umamah (may Allah be pleased with him) narrated that the Prophet Muhammad (peace and blessings be upon him) said: “Recite the Qur’an, for it will come as an intercessor for its reciters on the Day of Resurrection.” (Muslim).

8: Reciting the Quran brings us closer to Allah (SWT).

Praying and reading the Quran are two ways of opening a conversation with the Almighty Allah.

Take reciting Al-Fatihah (the opening chapter of the Quran) as an example. It is not meant to be a monotonous monologue by the believer who recites it, but Allah has made it a warm, loving conversation between him and the worshiper. As the Prophet Muhammad (PBUH) said: “Allah said: ‘I have divided the prayer between Myself and My slave into two halves, and My slave shall have what he has asked for.’

When the slave says: ‘Alhamdulillah rabbil Alameen (All the praise is to Allah, the Lord of all that exists),’ Allah says: ‘My slave has praised Me, and My slave shall have what he has asked for.’

And when he says: ‘Ar-Rahmanir-Rahim (The Most Gracious, the Most Merciful),’ Allah says: ‘My slave has extolled Me, and My slave shall have what he has asked for.’

And when he says: ‘Maliki yawmiddin [The Only Owner (and The Ruling Judge) of the Day of Recompense],’ Allah says: ‘My slave has Glorified Me. This is for Me, and this Verse is between me and My slave in two halves.’

And when he says: ‘ Iyyaka na’budu wa iyyaka nastain [You (Alone) we worship, and You (Alone) we ask for help],’ He says: ‘This is between Me and My slave, and My slave shall have what he has asked for.’ And the end of the Surah is for My slave.’

And when he says: ‘Ihdinas-siratal-mustaqeema, siratal-alldhina an’amta alayhim ghaeril magduubi alayhim wa lad-Dallin [Guide us to the Straight Way, the way of those on whom You have bestowed Your Grace, not (the way) of those who earned Your Anger, nor of those who went astray],’ He says: ‘This is for My slave, and My slave shall have what he has asked for.”

(Sahih Darussalam) 9: Intercessor on the Day of judgment.

The Holy Quran will intercede on the Day of Judgment. Prophet Muhammad (SAW) said that: “Read the Quran, for verily it will come on the Day of Standing as an intercessor for its companions.”

10: Teaching the Quran to bring significant rewards.

Islam assigns great significance to teach Quran to everyone. It is vital for Muslims to ensure that their children learn to recite the Holy Qur’an.

As the Prophet Muhammad (SAW) said: “On the Day of Qiyaamah, a crown of such brilliance will be placed on the heads of the parents of one who learned the Qur’an and practiced its laws, that its glitter will outshine the brilliance of the sun which penetrates your houses. What then do you think will be the position of the one who himself learned the Qur’an and acted following it? [Ahmad and Abu Dawood] 11: Find out about the Hereafter.

This worldly life does not end at death. There is a life after death (hereafter) that will be forever. The Holy Quran will teach you about the hereafter and you can read all about the amazing privileges and beauty of paradise that Allah (SWT) has promised for believers.

12: Learn about the religion of Islam.

We should learn about our Islam from the Holy Quran, as it is pure, the unchanged message from Allah (SWT), nothing has been added, removed, or changed from it. Quran is the words of Allah literally.

In the Holy Quran Allah (SWT) says: “And the word of your Lord has been fulfilled in truth and in justice. None can alter His words, and He is the Hearing, the Knowing.” (Quran 6:115) CONCLUSION: Quran is a refresher of faith for many Muslims, especially during calamity and hardship. The words of the Quran is certainly the best and most outstanding prose and poetry.

The Holy Quran is the only path towards paradise and salvation. The Quran is the holiest book in the history of mankind and directs us to spread peace and kindness, not only to people but animals as well.

Revert towards the Qur’an and apply it in every single part of life. This is your key to succeed in this life & the hereafter.

May Allah Almighty grant us better understanding of the Holy Quran. Amin.

T H I S D AY • FRIDAY, SEPTEMBER 23, 2022

46

BACKPAGE CONTINUATION LET’S RETURN NIGERIAN STUDENTS’ LOANS BOARD it was time for the end of session examination crisis of fee payment broke out. Part one students like me whose parents did not have the means to settle their unpaid fees started an agitation asking the university to allow us take our end of session examinations. We were encouraged to continue by older students who hinted us that the federal government would come to our aid. As the days went by, more senior students joined the agitations also asking for a federal government bail-out to enable all the indigent students, both new and old, to take their end of session exams.

Then one morning, the university Registrar asked all the so-called indigent students to assemble at the University of Lagos quadrangle for an address.

The Registrar broke the good news that the federal government had decided to clear all the school fees owed by all the poor students to enable them take their examinations. There was jubilation and thereafter the students proceeded to complete the necessary documentations.

Unknown to students at the University of Lagos, similar agitations were going on at the University of Ibadan, University of Ife (now Obafemi Awolowo University), Ahmadu Bello University, University of Nigeria, Nsukka and University of Benin. There were only six universities in Nigeria at the time and all owned by the federal government. The federal government reprieve applied equally to all students. The examinations were done and thereafter the long vacation began.

In the course of the vacation, the federal military government promulgated a decree establishing the Nigerian Students Loans Board with headquarters at Alhaji Tokan Street, Surulere – Lagos, then the federal capital city. Students were required to obtain their application forms from their universities and could apply for an annual loan of N300; N400 or N500 depending on whether they were in a 3-year programme or longer. The loan was enough for each beneficiary to pay tuition and accommodation fees, buy meal tickets for use in the university dining halls, buy books and enough to buy a few clothes and transport to and from school all through the year.

The funds were paid direct to the universities and each student only received the residual amount after all the necessary fees had been deducted. No money was embezzled. The students’ ability to pay school fees gave the universities enough money to meet their recurrent cost and staff salaries could be paid. There were qualifying criteria for the student loan and it was only for students whose parents could not pay their fees.

Thousands of students who came from comfortable homes did not need the loans. Many students who were either on state and federal bursaries, or on state and federal scholarships did not qualify for the loans. There was no stigma attached because it was either you had money to pay school fees or you didn’t.

There was no ASUU at the time. Even now, the federal government can decide how to fund education and it does not need ASUU or any other university staff unions to make that decision for it. All the government owes ASUU and other unions are salaries and allowances as well as make provisions for libraries and laboratories and other infrastructure. But is the federal government serious?

Several countries of the world have used the instrumentality of a federally administered loan scheme to address the subject of university funding. With adequate tuition and accommodation fees, universities can fund themselves and leave government to help the students to pay these school fees through loans.

Federal government will continue to deploy resources of TETFUND for the systematic development of universities.

At present students in all state universities pay tuition fees and any university that collects tuition fees from students must not disrupt the education of these children. At Ambrose Alli University, the tuition and acceptance fees paid annually by newly admitted students are in excess of N5.5 billion and a lot can be done once the funds

ASUU President, Prof. Emmanuel Osodeke

are dedicated to the use of the university annually.

When TETFUND assistance in infrastructure is factored into the equation it is obvious that our universities can go places. But prudent management both in collection and deployment of these funds depend on how responsible both Council and university administration are. And if federal and state government officials collude with university management to vandalise the resources of the university the school is doomed except an autonomous Governing Council is in place.

The question of prudent management of university resources on which I can write a book is not the subject of this article. Suffice to say that the present experience is that government officials collude with the Vice-chancellors of respective public universities to raid the resources of the universities. And when a disciplined Governing Council moves to correct such anomalies by stopping the embezzlement the concerned government merely sleep-walks into the dissolution of such councils.

To aid the administration of a federal student loan scheme, the first step is for the university to determine what the tuition fees should be. A regulatory board can determine this based on university classification. A typical public university can survive effectively on a tuition fee of N250,000 per session and an all-in annual loan of N500,000 can take a student through each academic year. At the end of a 4-year programme the student leaves the university with a debt of N2 million repayable over a 20-year period at a fixed interest rate of 1% pa. With funds availability, staff of universities are paid, students will receive lectures and our children can eat, procure books and personal items and pay for accommodation. The present federal government posturing of a free tuition regime is a fraud, a deceit because it serves no purpose. In every university there are huge opportunities for internal revenue generation which need to be

exploited. Give the indigent university students an annual loan and see what beauty our university education will become. The good old days will return.

Nigerian parents send their children to universities in North Africa and Britain every year where they pay a minimum of $40,000 (N17 million) per child and these universities have only been maintained through fees paid by students assisted via a government loan scheme for their citizens. Countries such as Australia, Canada, France, Germany, New Zealand, Thailand, South Korea, United Kingdom, United States of America, Hong Kong, Sweden and Norway operate a federal loan scheme for their poorer citizens.

In the years following the 2nd world war in United Kingdom, local education authorities paid tuition fees and living costs for their citizens and under the 1962 Education Act these local authorities were mandated to give full-time university students loans to cover tuition and living cost repayable over a long period after graduation.

In Canada, a similar scheme came into existence in 1939 and was transformed in 1964 to the Canadian Student Loan Program. Students receive varying amounts for their tuition and living expenses with a long loan repayment period after graduation and while in employment.

Similarly, in the United States of America, the first federal loan programme was created in 1958 called the ‘National Students Loan Scheme’. In its current state, the American scheme has been upgraded to provide different types of student loans. These wealthy and advanced countries have deemed it fit to manage their university funding system through these schemes of assistance to students. With advancement in ICT and widely spread bank branches in Nigeria, a federal student loan scheme can be easily managed and any anomalies in the 1974 federal students’ loan scheme can be readily resolved.

Nigeria has no option but to follow world best practices. A student loan

scheme is the solution to the annual ASUU holidays. The payment of salaries by state or federal government to university lecturers and staff must stop with the inception of the federal students’ loan scheme. Governments may give grants and competitive funding to universities for their infrastructure as is being currently done. ASUU should help in monitoring funds’ mobilisation and deployment by universities as they sit on councils.

The qualifying criteria for eligibility for student loan should be that a student must be admitted into a Nigerian public university; parents or guardians of such students must declare their annual income and grade levels, where necessary and any student whose parents earn above an established threshold should not be eligible for a federal loan. Disbursement of such loans shall be direct to respective public universities while the residual amounts are given to the students. The tuition fees should be reviewed from time to time by the governing council and savings from these fees will be used to improve the infrastructure of the universities.

In the light of current autonomy legislation, the establishment laws of all public universities should be reviewed to empower the councils as the effective final arbiter in university matters subject of course to the laws of the land. The composition of university governing council should include representatives of the original owners of the university, including its chairman, senate of the university, ASUU and congregation, NUC member, President and a member of the Alumni association and representatives of a respected religious body not the spiritual pretenders. The present impasse between ASUU and FGN is a shame as it has no parallel under current realities.

Let us wake up and move forward.

•Chief Omokhodion, former MD/CEO, Liberty Bank Plc, is the immediate past Pro-Chancellor and Chairman, Governing Council, Ambrose Alli University, Ekpoma.

47

FRIDAY, SE ͺͻ˜ ͺ͸ͺͺ ˾ T H I S D AY

FRIDAYSPORTS

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

0811 181 3083 SMS ONLY

Ndidi Injured, Dumps Algeria Friendly Super p Eagles g handlers announced yesterday that Wilfred Ndidi has quit the camp in Constantine, Algeria, and headed back to England after he was injured in training.

The nature of the injury was not disclosed, but it has ruled out the Leicester City midfielder from a series of friendlies against Algeria.

The Super Eagles Will play against a home-based Algerian team tomorrow evening before

they y battle the country’s y main Oran team Tuesday night in Oran.

Last season, Ndidi missed a good part of the campaign on account of a knee injury.

His form has been patchy for Premier League bottom club Leicester City on his return to action this term.

Meanwhile, Coach Jose Peseiro has thrown more light on the nature of Ndidi’s Injury.

g in his “He felt something hamstring he did an MRI (scan), (scan) hamstring, it is not a serious injury but it was better not to take any chances and so he has returned to Leicester for him to recover faster,” he explained. has said under him the Super Eagles will go out to win every match they play including the friendlies against Algeria.

“Every time we want to win because Nigeria are one of the best

teams in Africa and we have to create the habit to win always,” always ” Peseiro said.

“Algeria have a good national team. But we want to improve our team because we want to win the next AFCON.” Peseiro will have a chance to see in action several players he has previously not worked with and he said he will try to give them a run out tomorrow.

Wilfred Ndidi... Injured again, out of Algeria clash on Tuesday

Emeruwa, Mouktar Say Football Must be Run as Big Business Olawale Ajimotokan in Abuja

L-R: Super Eagles coaches and trainers Vitor Hugo, Salisu Yusuf, José Peseiro, Maykel, Ike Shorunmu, Usman Abdallah, Acasio and Eboboritse shortly after training in Constantine, Algeria... yesterday

Amusan: Ratification of My World Record Proof I am Dope Free Ugo Aliogo Women’s world record holder in the 100m hurdles, Tobi Amusan, has described Tuesday’s ratification of the 12.12secs she ran at the 2022 World Championships in Oregon

by World Athletics as vindication of her dope free status.

Amusan erased American Kendra Harrison’s 12.20secs previous world record set in 2016 with the 12.12 secs to pick Nigeria’s first ever gold medal at the World Championships.

Speaking on Wednesday night at a homecoming event organised

by Flutterwave in partnership with THE PLUG, Tobi said she feels like the best woman ever because they have done the work and have been waiting for the approval.

“I am just thankful that my hard work wasn’t debunked,” remarked Amusan in reference to

the ratification of her world record.

She stressed that when she crossed the finish line at the World Championships, winning the gold was a feeling of a great accomplishment.

With many years of near misses at major meets and championships, winning at Oregon 2022 gave her this exhilarating feelings of getting to the top.

On her tears on the podium while collecting the gold, she remarked: “At that moment, it was thoughts of winning the gold medal and becoming the first Nigerian to set a World Record that came flooding. I just felt so elated and was on top of the world.”

Amusan describes her rivalry with Puerto Rico’s Jasmine Camacho- Quinn and United States of America’s Kendra- Harrison, as very competitive, stating that it was always a challenge.

She however insisted on not speaking on the women’s 4x100m relay gold medal from the Commonwealth Games in Birmingham she is likely to lose should Grace Nwokocha ‘s ‘B’ Sample also test positive to dope.

The new World Record holder in the women’s 100m hurdles is not embittered by the snide remarks made by Michael Johnson, a former USA 200m and 400m Olympic and World champion who initially dismissed her feat as fluke.

“I want to say here that I don’t dwell on negativity. I focus on doing my thing because I have been through worse times.

“The goal is to keep working hard, set the standard for myself and build on what I have achieved and keep showing up.

“If you are asking for the update on my doping test, I would like to say that the time for me is

Igali's Election Into World Wrestling Body Excites Diri Olusegun Samuel in Yenagoa Bayelsa State Governor, Senator Douye Diri, has expressed delight over the recent election of the state’s Commissioner for Youth and Sports Development, Daniel Igali, into the United World Wrestling Bureau.

The governor, who was out of the country, spoke on Thursday morningat the Samson Siasia Sports Complex in Yenagoa shortly after the weekly health and fitness exercise tagged Prosperity Walk.

A statement by his Chief Press Secretary, Mr Daniel Alabrah, quoted the governor as saying

that Igali’s victory as the first black to be elected into the global wrestling body has again put Bayelsa prominently on the world map of sports.

Governor Diri described Igali, who is also president of the Nigeria Wrestling Federation (NWF), as a committed professional whose dedication to duty has paid off and urged others to emulate him.

He said the state will always support Bayelsans that aspire to greater heights in different professions.

He remarked that the state was proud of Igali’s achivements,

especially in wrestling, and wished him well in his task as a member of the apex wrestling body.

Governor Diri also praised the St. Jude’s Girls School and their male counterparts from Bishop Dimieri Grammar School for their performance in the ongoing World Schools Basketball Championship holding in Belgrade, Serbia.

The state’s helmsman, who disclosed that he was in touch with the state teams representing Nigeria at the tournament, said he was delighted at both teams victory over Hungary and Turkey in their opening group games.

confidential. It is between me and the officials of the competition and not for the public,” joked the Ogun State-born athlete.

Amusan admitted that she is excited by the Officer of the Order of the Niger national honour bestowed on her along with Ese Brume by President Muhammadu Buhari.

“I will like to say that it is a great feeling to be recognised by the President of the Federal Republic of Nigeria. It is an honour that the government recognised the fact that we made the nation proud,” concludes the athlete now affectionately called “Tobi Express”.

Two of the candidates eyeing the Nigeria Football Federation (NFF) presidency, the Head of Safety and Security, Confederation of African Football (CAF), Dr Christian Emeruwa and FCT Football Association (FCT FA) Chairman, Alhaji Adam Mouktar Mohammed, have said that football administration in Nigeria requires an entirely new direction and must be operated as business as it obtains all over the world.

They made the affirmation in Abuja yesterday during the NFF presidential debate organised by the FCT Chapter of the Sports Writers Association of Nigeria (SWAN) ahead of the at the NFF election billed for Benin on September 30.

Emeruwa said Nigerian football will not develop if those at the helms of football administration keep doing things the same way and expect different results.

He said there should be deliberate community development programme and structures on grounds connected to the grassroots to develop young and upcoming players.

He urged NFF to inculcate bodies like the Nigeria University Games Association (NUGA), Nigeria Polytechnic Games Association (NIPOGA) and other related bodies into its programmes to nurture and raise talents from the nook and cranny of the country.

“As NFF president, I will bring in experts that will develop the capacity

NFF ELECTION of state FA secretaries for proper running of Nigerian football. My experience will be brought to bear in running our football the way it should. I studied sports from first degree to PhD. I have served three Secretary Generals of the NFF at different times. I have been in FIFA since 2015. I understand the problems of Nigerian football and I know to fix it. Nigeria is a country with the largest economy in Africa but that has not been maximised to the benefit of football stakeholders,” Emeruwa said.

On his part, Mouktar described himself as the best man for the NFF presidency. He said football as a business needs heavy and structural investment in terms of facilities and infrastructural development that will not only attract sponsors to Nigerian football but change the course of the game in the 21st century.

"I can say that I am the bestperforming FA chairman in Nigeria and I consider myself as the best man for the job. I see myself as a game changer because football is a big business which I have been involved in in the 21st century. I have developed boys from the grassroots. I have invested my time and money in football and I know what is needed to develop Nigerian football and run it as a business it supposed to be. What we need is infrastructure and facilities to develop our football and attract investors,” he said.

Kigigha Leads the Pack at Gulder/Maltina African Individual Chess Tourney Former Nigerian Champion and FIDE Master, Bomo Kigigha, is the rave of the moment at the on-going African Individual Chess Championship in Lekki after brilliant showing against the pack of top-rated players at the event.

Kigigha, a veteran of several International tournaments, gave Nigerian chess community a lot to cheer at the end of round four.

It was a round that showed that Nigerians are fighting and standing tall among African top masters.

Backed by the strong sponsorship of Gulder and Maltina nourishing drinks, the Nigerian master battled top players to a draw, including Madagascar’s maestro, International

Master Fy Rakotomaharo.

Kigigha struck down his first grandmaster of the tournament in a brilliant fashion.

However, in the West Africa battle for supremacy between the West Africa Chess Champion, International Master Mariano Ortega and Nigeria’s former National Champion, Fide Master Bomo Kigigha, the Nigerian came out on top.

This win puts him in the list of the top three (3) players at the tournament going into the final game before the rest day.

Following up on this victory, 27-year-old Oluwadurotimi Lapite and 20-year-old Emmanuel Joy Idara claimed all-important victories to put themselves in the top ten

(10) list of players after the first four (4) rounds.

Also worthy of note is 20-yearold Denyefa Callistus, who remains unbeaten in the tournament, having faced a Fide Master and International Masters in his first four (4) rounds.

Now, only a point behind the leaders of the tournament, he faces his toughest test against the South African Grandmaster in the 5th round.

In the female section, drawn aback by the Nigerian coach, Rosemary Amadasun, in the 3rd round, Egypt’s Woman Grandmaster Shahenda Wafa bounced back with a roaring victory over South Africa’s Woman International Master Charlize Van,Zyl.

TR

Friday September 23, 2022

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& REASO

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MISSILE Na’abba to Governors

“Since 1999, governors have been the problem of the country. They contributed to the death of democracy within the political parties. And when there is no elections within the parties, then, incompetent leaders will emerge and that will affect the whole political system, and the country’s development too. The governors have caused all these. They will hardly hold primaries, rather they will ask you to go for consensus which is wrong “ –Former Speaker, House of Representatives, Ghali Na’abba, accusing the state governors.

EBENEZERONYEAGWU Banks and the Evolving Digital Payments Landscape GUEST COLUMNIST

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round the globe, payment channels continue to evolve along with changes in digital payment technologies and consumer preferences. In many places, the acceleration of digital payment options has caused brick-and-mortar offices to give way to electronic channels like automated teller machines (ATM), point of sales (PoS) terminals, internet banking, mobile banking, unstructured supplementary service data (USSD), and contactless payments. This tracks the ongoing shift in several economies from cash-based to cashless transactions. As a PricewaterhouseCoopers analysis shows, global cashless payment volumes are set to increase by more than 80 per cent from 2020 to 2025.

This trend intensified during the COVID-19 pandemic as individuals, merchants, payment service providers, Fintechs and banks adjusted to balance the need for convenient, safe and secure transactions with the need to reduce the risk of infections. The pandemic made it pertinent for businesses to digitise or face the bleak prospect of going out of business.

Nigeria mirrored global developments in payments during the period. According to data from Nigeria Interbank Settlement System Plc (NIBSS), the value of e-payment transactions surged by about 33 per cent

Minister of Finance, Zainab Ahmed

from 2019 to 2020, reflecting an increased preference for electronic payment. This builds on the trend that the payments sector has witnessed as the adoption of digital payment options grows while payments via cheque decline.

Given banks’ unique position in the payment system, it is pertinent to explore how they are responding to this tectonic shift in the industry. The most significant point of action for banks, like other key players, is an investment in digital payment infrastructure and increasing technical capabilities.

PricewaterhouseCoopers analysts posit that traditional banks face the challenge of modernising their payment products and software to meet new merchant and consumer needs or risk losing share to payment companies or new market entrants. With the relevant solutions in place, banks will have to do more about convincing customers to go digital while helping them to integrate digital payments into their services.

As incumbents in the financial services ecosystem, another key point of action for banks is defining their relationship with other players like payment processors, card issuers, and Fintechs in an ever-evolving digital payments landscape. As banks develop capacity and become tech companies of sorts with banking licences, they have to deal with the need to compete or collaborate. Many banks are choosing not to see their approach in terms of a binary of two extremes. Instead, they compete when the need arises and collaborate when they see opportunities.

Banks also have to contend with data privacy and cybersecurity risks as digital payment adoption ramps up. According to a PricewaterhouseCoopers global survey, payments generate roughly 90 per cent of banks’ useful customer data — information about who is buying what, how much, and when. This presents significant opportunities for product improvement, enhancement of the customer experience, and creation of new revenue streams. Alignment with data security frameworks such as the General Data Protection Regulation (GDPR) and the Nigerian Data Protection Regulation (NDPR) is one of many steps that banks can take to strengthen data protection efforts while reducing compliance risks.

To address cybersecurity concerns, they have to invest significantly in cyber risk infrastructure, acquire relevant software, and train personnel.

Ultimately, banks have to develop the digital agility needed to seize opportunities and mitigate the risks that pop up in a rapidly changing digital payments environment.

•Ebenezer Onyeagwu is the Group Managing Director/CEO of Zenith Bank Plc. This opinion was first published in the Zenith Economic Quarterly Vol. 18 No. 3 July 2022, in his column “CEO Insight”.

LAWSON A. OMOKHODION Let’s Return Nigerian Students’ Loans Board GUEST COLUMNIST

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he judgment by the National Industrial Court asking the Academic Staff Union of Universities (ASUU) to reopen the universities while the matter between the union and the Federal Government of Nigeria (FGN) is being heard in court is a welcome development. It is still too early in the day to get the reaction of both parties to the ruling. However, the FGN has scored a public relations victory. But this is not the permanent solution to the university funding crisis because nothing has changed. The unfortunate closure of universities is bad for the students and for the public perception of the quality of Nigerian university education. In the year 2020, there was no school because of the combined effect of ASUU strike and Covid-19 pandemic and in 2022 again there is also no school because of the ASUU and FGN funding impasse. Even in years prior to this unpleasant situation, the

quality of university education itself, has been perceived as a mixed bag. University education requires adequate funding because lack of needed funds puts the universities in jeopardy and turns them to mediocre institutions. Most commentators writing on the recent calamity of having undergraduates languishing at home for seven unbroken months have either blamed ASUU or the FGN and others have blamed both. But the problem is not being solved.

As the immediate past Pro-Chancellor and Chairman of Governing Council of Ambrose Alli University, Ekpoma, a 35,000-student strong state government owned university; and as a Nigerian university student in the years 1973 to 1976, I have decided to speak so that the benefits of history are not lost on those who have been tasked to provide a fair, just, adequate and sustainable solution. It will be unfair to come out of this problem and in a few years’ time,

confront a similar problem as has been the case over the years. Both ASUU and FGN must be ready to proffer a solution to avoid the imminent destruction of public university education in Nigeria.

Public universities house the greatest number of undergraduates at any one time in Nigeria. They are the true Nigerian universities.

It is wrong to say that the federal government is not interested in funding education. Because without the federal government operated ‘Tertiary Education Fund (TETFUND)’, most public universities would be no better than primary schools of old. However, the government is incapable of funding universities as a stand alone.

As we speak, three previous laws are important in the attempts to provide a solution. In 1974, the federal military government of General Yakubu Gowon, promulgated the Nigerian Students’ Loans Board decree to provide funding to Nigerian students based on loans

repayable in 20 years after graduation.

In decree No. 50 of 1993, the federal government promulgated another legislation to establish the Nigerian Education Bank. And in the year 2004, the University autonomy bill was passed which vested in the university governing councils the rights of employers of staff of universities. It is now time to activate the essential elements of the three legislations and solve these funding problems once and for all time as most countries have done.

The 1974 legislation is the biggest example of these federal laws because it was actually put into effect and students benefited immensely from the funding relief that resulted from the implementation of the provisions of the decree.

I was a part 1 student in 1973/74 at the University of Lagos and when Continued on page 46

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